Jack Henry snags billion-dollar client

Alabama-based Bank Independent, a $1.2 billion asset company, has selected Jack Henry & Associates Inc. to provide systemwide automation services.

The Monett technology firm (Nasdaq: JKHY) will implement its SilverLake System throughout Bank Independent, which comprises 27 branches across north Alabama, according to a news release.

"After a very thorough, year-long evaluation of core processing system providers, Bank Independent's team selected Jack Henry's SilverLake platform as the best fit for the needs of our growing bank," Bank Independent President Macke Mauldin said in the release. "We believe that Jack Henry's core system and complementary products will help us provide our customers with the most efficient banking experience and cutting-edge services for years to come."

Jack Henry, which counts more than 11,900 customers nationwide, is scheduled to release its third-quarter earnings statement on May 1, according to the release.

JKHY shares were trading at $45.27 as of 10:02 a.m., compared to a 52-week range of $32.17 to $46.31.