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Jack Henry expands board with new member

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Monett-based banking software firm Jack Henry & Associates Inc. (Nasdaq: JKHY) expanded its board of directors to eight members with the appointment of a California credit union executive.

Orange County's Credit Union President and CEO Shruti Miyashiro was named an independent director yesterday, according to a news release.

The Santa Ana, Calif.-based credit union holds $1.2 billion in assets, serves over 90,000 members and paid Jack Henry $311,751 for its software services during fiscal 2014.

In its fiscal year ended June 30, 2014, Jack Henry compensated nonemployee directors with a retainer of $40,000 per year, plus $3,500 for each meeting attended in person and $1,500 for each telephone board meeting. Directors also received 2,381 restricted shares during the fiscal year and were paid additional funding for committee meetings attended.

Miyashiro was not named to any committees, according to the release.

In fiscal 2014, the company’s highest paid director was Matthew Flanigan, who made $259,852, according to the company’s latest proxy statement with the U.S. Securities and Exchange Commission. Flanigan is executive vice president and chief financial officer for Carthage-based manufacturer Leggett & Platt Inc.

Other directors are Jack Henry Chairman and CEO Jack Prim; California Coast Credit Union CEO Marla Shepard; DecisionPoint Advisors LLC managing partner Tom Wilson Jr.; Prosperity Bank’s central Oklahoma region Chairman Jacque Fiegel; Wimsett & Co. Chairman and managing partner Thomas Wimsett; and The Dun & Bradstreet Corp. Senior Vice President and Chief Product Officer Laura Kelly, according to Jack Henry’s investor relations website.

Jack Henry posted $59 million earnings in its second quarter of fiscal 2015, representing a 7.5 percent increase from the same quarter a year earlier.

JKHY shares were trading at $66.08 as of 8:45 a.m., compared to a 52-week range of $51.86 to $67.43.[[In-content Ad]]

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