MONETT, Mo., Feb. 22, 2012 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking™ division announced today that First Community Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Virginia-based bank, which has more than $2.1 billion in assets, is in the process of installing SilverLake in-house.
According to Steve Lilly, executive vice president, chief operating officer, and chief information systems officer for First Community Bank, "Our bank is known for its unique ability to combine the best attributes of big banks and community banks to offer a wide variety of highly competitive financial products and services, exceptional personal service, and the resources to support our business and growth goals. Looking forward, we plan to grow both organically and through acquisition. We knew we needed a highly integrated system to optimize operating efficiencies, offer true relationship banking by consolidating customer information from our affiliates, and provide the technology to improve the customer experience and consistently exceed our customers' expectations. We also wanted a technology platform that would enable us to expedite our speed-to-market with flexible new products and services, and that would further differentiate us from our competition. After an extensive due diligence process, SilverLake emerged as the best solution for First Community Bank. SilverLake provides the integration, functionality, and flexibility we were looking for and Jack Henry Banking's success with mid-tier commercial banks and the satisfaction levels among those banks convinced us this is a long-term technology partnership. Moving to SilverLake is good for our bank, our bankers, and our customers."
Stan Viner, general manager of sales for Jack Henry Banking, said, "This bank's thorough evaluation included an extremely detailed operational assessment performed by a specialized team of our associates. The fundamental goal of the assessment was to determine the cost savings the bank could generate with a fully integrated operating environment. The inherent efficiency improvements and cost savings our team identified justified the bank's decision to convert to SilverLake. First Community Bank has a 138-year history of focused, balanced, and steady growth and we welcome the opportunity to support the next chapter in this progressive bank's history with our technology."
In addition to SilverLake, First Community Bank will initially implement an array of Jack Henry Banking's complementary solutions including Vertex Teller Automation System™; NetTeller Online Banking™; InTouch Voice Response®; the jhaPassPort™ ATM and debit card transaction processing platform; the jhaKnow™ data warehousing, analysis, and reporting solution; the Smart GL™ general ledger reconciliation and compliance solution; Relationship Profitability Management™ (RPM); components of the Synergy™ Enterprise Content Management (ECM) solution; Yellow Hammer Fraud Detective™; Yellow Hammer BSA™; and jXchange™ for open connectivity with third-party products.
About First Community Bank
First Community Bancshares, Inc., headquartered in Bluefield, Virginia, is a $2.16 billion financial holding company and is the parent company of First Community Bank. First Community Bank operates through fifty-one locations in the four states of Virginia, West Virginia, North Carolina, and Tennessee.
First Community Bank offers wealth management and investment services through its Trust & Financial Services Division and First Community Wealth Management, a registered investment advisory firm. The Company's Trust and Wealth Management Divisions managed assets with a market value of $873 million at December 31, 2011. The Company is also the parent company of Greenpoint Insurance Group, Inc., a full-service insurance agency headquartered in High Point, North Carolina, that operates six offices. The Company's common stock is traded on the NASDAQ Global Select Market under the symbol, "FCBC." Additional investor information can be found on the Internet at www.fcbinc.com.
About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to mid-tier institutions. Jack Henry Banking currently serves approximately 1,500 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its technology solutions serve more than 11,900 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.
