MONETT, Mo. - (04/21/05) -- Credit union outsourcer Jack Henry& Associates said Thursday several corporate acquisitionshelped boost its fiscal third quarter earnings by 19%, to $19.4million, or 21 cents a share. Third quarter revenue advanced 12% to$134.4 million. For the first three quarters of its fiscal yearJack Henry reported a 16% rise in revenues to $394.4 million, and a20% increase in net income to $53.8 million, or 58 cents a share.Over the past year Jack Henry has gone on an acquisition binge,with deals for TWS Systems; the SERsynergy division of SERSolutions; Optinfo; Verinex Technologies; Select PaymentProcessing; and Banc Insurance Services.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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