Pacific National Bank Selects Jack Henry Banking to Improve Efficiency, Compliance

MONETT, Mo., Sept. 9, 2015 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking® division announced today that Pacific National Bank (PNB) selected and successfully converted to the SilverLake System® to improve efficiencies in its digital and branch banking. The $409 million, Miami-based bank elected to install the core processing system through JHA OutLink Processing Services™ (JHA OPS), Jack Henry Banking's outsourced offering.

Established in 1982, PNB was formed as an Ecuadorian-owned bank focused on the U.S. and International markets. In 1985, the bank increased its domestic focus and obtained its license for a U.S. bank charter. The community bank operates in a highly competitive market and its original core system, installed in 1985, was largely dependent on homegrown work-arounds that presented issues. PNB needed a highly integrated, flexible system with a proven track record that could meet its needs quickly and efficiently. The bank initiated a rigorous selection process, which included managers from every operational area.

According to Pamela Wendel, senior vice president and chief operations manager at PNB, "We needed to convert our core in less than three months, including the peripheral systems. Thanks to Jack Henry Banking's full integration capabilities and our experience, we were successful. If they would not have perfectly aligned with our mission, understanding our needs and believing in us, we would not have experienced the same outcome. The commitment that Jack Henry Banking demonstrated is admirable. That partnership, combined with our closely aligned core values, positions us for a superior relationship."

Outsourcing the core processing system through JHA OPS resulted in significant cost savings for PNB. The SilverLake System also improved efficiency and integration, and enabled the bank to enhance the service it provides its domestic and international customers without requiring a lot of add-on solutions.

Carlos Fernandez-Guzman, president and CEO of PNB commented, "To remain profitable and competitive in today's dynamic banking environment you must seek to become hyper-efficient. Working with Jack Henry Banking, we are able to do so without sacrificing the branch or digital customer experience. We recognize the customer wants to do business with us on their terms, and the Jack Henry platforms allow us to meet or exceed those expectations."

Stacey Zengel, president of Jack Henry Banking, said, "Institutions that operate in a highly competitive marketplace like PNB are constantly balancing the demanding regulatory environment and consumer demand for seamless, sophisticated technology. It is important that these banks can rely on a trusted partner like Jack Henry Banking to manage their technology and relieve many of the regulatory and IT pressures. Now, PNB can focus on its customers and expanding its business; the bank is positioned for success."

About Jack Henry BankingJack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion dollar institutions. Jack Henry Banking currently serves more than 1,300 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.

About Jack Henry & Associates, Inc.Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve almost 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information.  Actual results may differ materially from those projected in any forward-looking information.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information.  Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

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SOURCE Jack Henry & Associates, Inc.