Two Midwest Banks to Use Core Processing from Jack Henry

Two community banks have selected Jack Henry & Associates (JKHY) to provide enterprise-wide automation.

Libertyville Savings Bank in Fairfield, Iowa, and Farmers State Bank in Underwood, Minn., will use the core processing platform from the banking division of Jack Henry. Both will implement Core Director through the company's outsourced offering, Jack Henry said Tuesday.

Core Director is a Windows-based product that provides customizable core functionality that is integrated with roughly 110 complementary products and services, Jack Henry said. It provides a point-and-click operation and has a flexible browser user interface that can be customized to support unique user preferences and requirements. It also an open architecture and connectivity to third-party products.

The $195 million-asset Libertyville has four branches in three counties in the southeastern part of Iowa. The $46 million-asset Farmers has two branches.

"We believe that moving to Core Director and outsourcing after decades of in-house processing will be important milestones for these forward-thinking banks," Stan Viner, general manager of sales for Jack Henry Banking, said in a news release.