State First National Bank of Texarkana, Ark., will use data processing software from Peerless Systems Inc., at the bank's service bureau, which is run by Electronic Data Systems Corp.
The $375 million-asset unit of State First Financial Corp. will offer the services to its 11 correspondent banks in southwest Arkansas and northeast Texas.
Electronic Data Systems will provide full data processing services, including account, automated clearing house, and exception item processing, as well as item capture and print services.
EDS will also provide bond, personal trust, payroll, and accounts payable processing, in addition to automated teller machine processing.
Peerless, based in Richardson, Tex., was a division of EDS until 1989, when management executed a buyout.
