Texas Bank Licenses Core Banking System from Jack Henry

Published: June 6, 2006

by Alex Woodie

Texas-based based First National Bank, which has approximately $3 billion in assets and more than 50 branches that serve most major markets in the state, has purchased a license for the OS/400-based Silverlake core banking system from Jack Henry & Associates, the software and services provider announced last month.

First National had considered an out-sourced banking solution, but ultimately decided that running its own system was the best solution, according to Cynthia Myers, senior information officer with the Edinburg, Texas, bank.

First National had considered an out-sourced banking solution, but ultimately decided that running its own system was the best solution, according to Cynthia Myers, senior information officer with the Edinburg, Texas, bank.

There are about 400 banks and credit unions like First National that rely on Silverlake, according to Jack Henry. In fact, SilverLake provides the core processing requirements of about 15 percent of the domestic banks with assets ranging from $1 billion to $30 billion, according to Tony Wormington, Jack Henry's president.