Jack Henry signs $1.5B-asset bank

Jack Henry & Associates Inc. (Nasdaq: JKHY) this week announced it signed a $1.5 billion-asset bank as a client for core processing services.

Sioux Falls, S.D.-based First Premier Bank selected the company’s SilverLake processing system, according to a news release.

“Jack Henry Banking's SilverLake System will provide a more holistic view of each customer from a single screen, enabling our team to better understand the entire relationship,” First Premier Bank Executive Vice President and Chief Financial Officer Darrell Schmith said in the release. “That knowledge will directly translate to us optimizing each customer interaction to ensure it's meaningful for us and for the customer."

First Premier will utilize SilverLake to outsource its core systems, including capacity planning, hardware updates, product delivery and integrations.

The company joins over 1,200 banks on the Monett-based financial industry software firm’s client roster, according to the release.

Jack Henry, which improved its fiscal first-quarter earnings by roughly 11 percent to $51.4 million for the three months ended Sept. 30, serves nearly 11,000 customers nationwide.

JKHY shares were trading at $77.31 as of 10:45 a.m., compared to a 52-week range of $59.99 to $79.92.