Jack Henry contracts $6B Fla. credit union

Jack Henry & Associates Inc. (Nasdaq: JKHY) announced today it penned a deal for a Florida-based credit union client with $6.1 billion in assets.

Tampa, Fla.-based Suncoast Credit Union will utilize Jack Henry Symitar’s Episys system for core processing to serve its 641,000 members in 17 counties, according to a news release.

"A driving force behind Suncoast's success is our dedication to meeting members' financial needs through favorable products and services,” Suncoast Executive Vice President and Chief Information Officer Kevin Johnson said in the release.

Episys, which processes data, is used by nearly 40 percent of U.S. credit unions with assets of at least $1 billion. Over 600 credit unions use it, according to Symitar.com.

Suncoast plans to use the platform to support in-house services created internally, such as its online banking app, according to the release.

Monett-based Jack Henry, which counts 11,300 customers in the U.S., reported a net income increase of 19 percent to $50.7 million for its most recent quarter ended March 31.

JKHY shares were trading at $65.66 as of 11 a.m., compared to a 52-week range of $51.86 to $70.25.