Great Plains Bank funds local community resurgence with Jack Henry

Incumbent bank boosts post-Covid economy, supporting continued financial health with business cash flow tool

MONET, Mo., May 18, 2022 /PRNewswire/ — Jack Henry & Associates, Inc. (NASDAQ: JKHY) today announced that $1 billion-the assets that the Great Plains National Bank put to good use at Jack Henry accounts receivable (A/R) financing program, BusinessManager®in order to create additional income opportunities for local businesses and contribute to post-pandemic recovery.

BusinessManager helps financial institutions provide daily working capital to businesses in exchange for their accounts receivable. OklahomaGreat Plains Bank, based in London, has used the program for over 20 years. The bank has financed local businesses that operate in the oil and gas, trucking, manufacturing, staffing and IT sectors with over $1.7 billion in the financing of working capital and currently supports 70 companies ranging from $25,000 at $25 million in size.

BusinessManager helps these businesses mature with strong financial support. For example, a local start-up with two employees applied for a $150,000 working capital line of credit in 2011 to build a construction pipeline company. With Jack Henry, by 2022 the company had increased its funding to $5 million and today employs more than 300 people. To better serve its community, Great Plains Bank has also decided to help IT and recruitment companies that have experienced cash constraints due to unpredictable business demands since the start of the pandemic. For example, the bank financed a company that provides temporary clinical staff to health facilities with more than $5.5 million, helping them absorb the increase in demand for health personnel and continue to grow while meeting the demand for health care from the community in a difficult situation. Great Plains Bank recently acquired a bank in Texas continue to support strong demand for IT and staff.

Mandell GretemanChairman of Great Plains Bank’s Strategic Lending Department, said: “at Jack Henry modern and flexible technology is extremely valuable to our bank and the local community. Together, we have helped hundreds of companies realize their dreams. This boosts the economy of our community and allows us to build strong, long-term relationships with our customers – in some cases, we have supported multiple generations of business owners. The platform also allows us to cross-sell and diversify our customer portfolio, thereby strengthening our balance sheet. Great Plains Bank’s management team is very committed to Jack Henry and we’re excited to continue to accomplish great things together.”

Gary LewisManaging Director of Jack Henry Lending, said: “The pandemic has forced many small and medium-sized businesses to spend money, leaving them vulnerable and in need of reliable financing. BusinessManager has a proven track record of helping community banks like Great Plains Bank infuse support into their local businesses, fostering a healthy and vibrant economy. »

About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider of technology solutions primarily for the financial services industry. We are an S&P 500 company serving approximately 8,000 clients nationwide through three divisions: Jack Henry Bank® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of all asset sizes, as well as various corporate entities outside of the financial services industry. With a legacy of openness, partnership and user-centricity spanning over 40 years, we are well positioned as a market driving force in future-ready digital solutions and payment processing services. . We provide our clients and consumers with human-centric, cutting-edge, knowledge-driven solutions that will take them where they want to go. Are you ready for the future? Additional information is available at www.jackhenry.com.

Statements made in this press release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in the 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 about these and other factors that could affect the Company’s financial results is included in its filings with the Securities and Exchange Commission (SEC) on Form 10-K, and prospective investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s filings with the SEC that may cause actual results to differ materially from any forward-looking information.

THE SOURCE Jack Henry & Associates, Inc.