Jack Henry nabs two multimillion-dollar clients

Jack Henry & Associates Inc. (Nasdaq: JKHY) has landed multimillion-dollar clients in Florida and Tennessee.

Tampa, Fla.-based NorthStar Bank, a company with roughly $192 million in assets, and $284 million Athens Federal Community Bank, based in Athens, Tenn., have signed on to install the Monett technology company's automation software, according to an Oct. 29 news release from Jack Henry.

The companies both selected Jack Henry Banking's SilverLake System to provide automation to their customers.

"Attracting, serving, and retaining commercial customers in our competitive marketplace is a key component of our bank's growth and business strategy," NorthStar Bank CEO Monty Wiegel said in the release. "We made the decision to replace our legacy core system with one that provides sophisticated commercial functionality and that would enable us to expedite our speed to market with new commercial products and services."

According to Jack Henry Banking General Manager of Sales Stan Viner, roughly 425 banks have installed the SilverLake system.

Jack Henry, which posted profits of $477 million during its fiscal year ended June 30, is scheduled to release its first-quarter financial results for its fiscal 2014 year on Nov. 6.

JKHY shares were trading at $54.90 as of 10:16 a.m., compared to a 52-week range of $37.12 to $55.42.[[In-content Ad]]