Great Western Bank Exceeds Aggressive ROE Objectives with ProfitStars' BusinessManager

MONETT, Mo., Aug. 22, 2013 /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 ProfitStars^® division today announced that $9.1 billion Great Western Bank expanded the BusinessManager^® program from a single market to four regions. In one year, the South Dakota-based bank serving seven states has more than doubled its number of BusinessManager customers, nearly tripled its outstandings to $35 million, and generated twice the program's revenue compared to the year prior.

Great Western Bank initially deployed ProfitStars' accounts receivables financing solution to Omaha-area businesses more than 10 years ago. The bank runs a tight return on equity (ROE) model, and 15 percent of its loans must achieve a high ROE rating. In re-evaluating growth measures, it saw BusinessManager's ability to attract a wealth of commercial customers and maintain high ROE thresholds. Great Western initiated an aggressive campaign in May 2012 to broaden the program into some of its additional geographic markets. BusinessManager has now become an integral part of the scorecard to reach the bank's ROE goal.

Kevin Petoske, business product manager of Great Western Bank, said, "BusinessManager has proven effective for both new businesses needing early, consistent cash infusion and veteran companies looking to expand. It has become an invaluable customer acquisition tool to the entire bank, and critical to the strength of our lending portfolio. Our once single-market, equipment financing program is now a multi-region revenue driver accommodating the cash flow needs of diverse businesses."

BusinessManager provides financial institutions with a proven method for offering initial and ongoing cash to creditworthy businesses secured by their accounts receivables. Financial institutions have significant opportunity to tap into the needs of targeted markets such as healthcare, oil and gas, and trucking.

David Foss, president of ProfitStars, said, "BusinessManager has afforded many of our clients the ability to reach previously untapped, seemingly unattainable high-growth businesses and then derive real value from those relationships. It provides a minimal risk, low cost of entry to asset-based lending for any size financial institution, from banks with the reach of Great Western to community institutions. Beyond additional fee income and core deposit potential, it creates lasting, more effective relationships with area businesses."

About ProfitStars

As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in five performance-boosting solution groups – financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.com. 

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc.^® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions 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 community to mid-tier institutions with information processing solutions. Symitar^® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars^® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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.

SOURCE Jack Henry & Associates, Inc.