Peoples State Bank Selects Jack Henry Banking(TM) to Provide Enterprise-Wide Automation
January 12 2010 - 8:00AM
PR Newswire (US)
- $600 Million Bank to Implement the SilverLake System(R) through
Jack Henry Banking's Outsourced Offering - MONETT, Mo., Jan. 12
/PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc.
(NASDAQ:JKHY), a leading provider of integrated technology
solutions and data processing services for financial institutions,
today announced that Wausau, Wisconsin-based Peoples State Bank has
selected Jack Henry Banking's SilverLake core processing system to
provide enterprise-wide automation. This bank, which has
approximately $600 million in assets, will implement SilverLake
through Jack Henry Banking's outsourced offering. According to
Peter Knitt, president and CEO of Peoples State Bank, "We consider
technology as one of the key components of our bank's ability to
meet our business goals and provide an exceptional customer
experience. After thoroughly evaluating our current in-house
system, we began investigating the leading technology providers and
platforms to enhance our capabilities. We narrowed our search to
two vendors and participated in multiple product presentations,
contacted a long list of references, and visited banks using the
respective technology solutions and the companies' headquarters.
Jack Henry differentiated itself throughout the evaluation, and the
banks utilizing their technology validated the company's product
and service claims." Leif Christianson, vice president and chief
information officer for Peoples State Bank, commented, "We are
confident Jack Henry provides the functionality, the scalability,
and the integrated add-on products and services to streamline many
day-to-day functions. We are excited about establishing a
technology partnership with a company driven by a commitment to
provide outstanding customer service, and the opportunity to focus
exclusively on the business of banking by outsourcing our
information and transaction processing to Jack Henry. Jack Henry's
organizational culture was a great fit with Peoples State Bank and
their approach to service truly embodies the spirit of community
banking." Stan Viner, general manager of sales for Jack Henry &
Associates, said, "SilverLake is a best-of-breed core system that
maximizes banks' operating flexibility and long-term technology
investments with customizable core functionality, integration with
more than 100 complementary solutions, open architecture, the
ability to support both in-house and outsourced operating
environments, and the scalable IBM® Power(TM) hardware platform.
Our OutLink Data Centers(TM) enable banks to eliminate the capital
expenditures required for in-house systems and the resources they
need to operate in-house data centers, while providing ongoing
access to advancing technology and our technology and security
experts. We are confident that the move to a SilverLake-based,
outsourced operation will enable Peoples State Bank to more
effectively execute its business strategy and capitalize on the
trends that are shaping the financial services industry, to better
serve its customers, and to maximize operating efficiencies." In
addition to SilverLake, Peoples State Bank will initially implement
an array of Jack Henry Banking's complementary solutions including
the ArgoKeys® DepositKeys account opening and administration
solution, the Vertex Teller Automation System(TM), the Synapsys®
sales force automation solution, NetTeller Online Banking(TM),
NetTeller Cash Management(TM), the NetTeller Bill Pay electronic
bill payment solution, the goDough® mobile banking solution, the
Electronic Statements-Interactive solution, the InTouch Voice
Response® telephone banking solution, the Cognos® 8 BI report
generation solution, the Yellow Hammer(TM) BSA compliance and risk
mitigation solution, the Bounce Protection® overdraft privilege
solution, the 4|sight(TM) Item Imaging platform, components of the
modular Synergy(TM) Enterprise Content Management (ECM) solution,
the jhaPassPort ATM and debit card solutions, the Intellix
Consulting operational assessment service, and the ECS Document
Capture Service which provides turnkey back file document scanning.
About Peoples State Bank PSB Holdings, Inc. (OTC:PSBQ) (BULLETIN
BOARD: PSBQ) is the parent company of Peoples State Bank,
headquartered in Wausau, Wisconsin. Peoples has served central and
northern Wisconsin residents and locally owned businesses with
traditional retail and commercial banking products since 1962.
Peoples operates eight full-service Wisconsin locations in
Marathon, Oneida, and Vilas counties, providing community banking
services to approximately 14,000 households and businesses. To meet
the needs of growing small- to medium-sized locally owned
businesses, Peoples offers commercial credit and treasury
management services that are tailored to this key company growth
area. As a leading home lender in its markets, Peoples' fixed rate
secondary market loan origination and servicing provides the
foundation for the company's retail banking products. In addition,
Peoples Wealth Management expands the bank's services to provide
retail investment products and insurance annuities along with
retirement planning and advisory services through Commonwealth
Financial Network, a Registered Investment Advisor. PSB Holdings,
Inc. common stock is traded over the counter on the Bulletin Board
exchange under the ticker PSBQ Holdings, Inc. Further information
regarding PSB can be found at http://www.psbholdingsinc.com/. About
Jack Henry Banking Jack Henry Banking, a division of Jack Henry
& Associates, Inc., is a leading provider of integrated
computer systems for banks ranging from de novo to mid-tier
institutions. Jack Henry Banking currently serves more than 1,500
banks as a single source for integrated, enterprise-wide
automation; and as a single point of contact and support.
Additional information is available at
http://www.jackhenrybanking.com/. About Jack Henry &
Associates, Inc. Jack Henry & Associates, Inc. (NASDAQ:JKHY) is
a leading provider of computer systems and ATM/debit card/ACH
transaction processing services primarily for financial services
organizations. Its technology solutions serve more than 11,300
customers nationwide, and are marketed and supported through three
primary brands. Jack Henry Banking supports banks ranging from de
novo to mid-tier institutions with information processing
solutions. Symitar(TM) is the 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 http://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. DATASOURCE: Jack
Henry & Associates, Inc. CONTACT: Analysts, Kevin D. Williams,
Chief Financial Officer, or IR, Jon Seegert, Director of Investor
Relations, both of Jack Henry & Associates, Inc.,
+1-417-235-6652 Web Site: http://www.jackhenry.com/
http://www.psbholdingsinc.com/
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