First State Bank Selects Jack Henry to Meet Local Needs

MONETT, Mo., April 3, 2024

MONETT, Mo., April 3, 2024 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that First State Bank has selected Jack Henry to deliver a more holistic banking experience for both retail and commercial customers and drive growth.

First State Bank, established in 1933 in New London, Wisconsin, is in the midst of a major strategic shift. A wave of bank consolidation in Northeastern Wisconsin has left a void for a true community bank in the area. First State Bank's leadership team saw an opportunity to strengthen its deep community roots and expand its customer base by offering competitive services with the care and personalization for which they are known. To meet these community needs, the bank plans to invest in talent and new technology for increased efficiencies and to deliver an improved banking experience.

Jack Henry's modern and highly customizable core processing solution will help the $550 million-asset bank automate processes and boost efficiencies, while consumer-facing products like the Banno Digital Platform™ will drive the delivery of a more seamless, user-friendly, and cohesive banking experience.

"After an in-depth competitive analysis, we gravitated towards Jack Henry because of their innovative solutions and future direction, which will help us deliver a more holistic, guidance-based banking experience, as opposed to a transactional one," said Matthew Lemke, President and CEO at First State Bank. "The final deciding factor was our cultural alignment. Jack Henry's top-down culture of transparency and round-the-clock support for both employees and customers fit with what we are trying to build within our organization."

First State Bank will have access to over 950 API-integrated, third-party fintechs within Jack Henry's open ecosystem, a network which will help them further differentiate themselves in their current and future markets. Lemke explains, "Jack Henry's openness and the option to seamlessly integrate with third-party vendors of our choice will give us a competitive advantage. It also shows that Jack Henry truly understands the community banking space and recognizes our desire to evolve."