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Mercantile Bank Selects Jack Henry for Focus on Innovation and Growth

1. Mercantile Bank selected Jack Henry for technology upgrade. 2. Jack Henry's systems will enhance Mercantile's operational efficiency. 3. The deal signals trust in Jack Henry's scalable technology. 4. Mercantile aims to expand in Michigan markets with Jack Henry's support. 5. Jack Henry empowers over 7,400 clients with innovative solutions.

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Why Bullish?

This partnership with a substantial banking client can lead to revenue growth. Historical collaborations often result in increased stock performance, as seen with other fintech partnerships.

How important is it?

Mercantile Bank's choice reflects confidence in JKHY, indicating potential industry reputation boosts. The increasing trend of banks opting for fintech solutions highlights market demand for JKHY's services.

Why Long Term?

The engagement involves a long-term technology setup, thus benefiting JKHY's revenues over years. Similar historical integrations have shown consistent growth in contracts and client retention.

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MBWM
$6.2 billion bank updates technology to better serve businesses and consumers across their footprint , /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that Mercantile Bank, Michigan's largest community bank, has selected Jack Henry to evolve its technology infrastructure, streamline operations, and support its long-term growth strategy. Founded in 1997 by a group of entrepreneurial bankers in Grand Rapids, Mercantile is a leading full-service bank with nearly 50 locations statewide and over $6 billion in assets. The bank provides a wide range of commercial, consumer, municipal, nonprofit, and agricultural banking services, fueled by both organic growth and strategic acquisitions. Today, Mercantile continues to deepen its presence across Michigan, with growing momentum in markets including Detroit, Eastern Michigan, and the Lakeshore. To better serve existing customers and support growth, Mercantile chose Jack Henry's highly configurable core processing platform to advance operations, automate manual processes, and improve system integration. This will be supported by Jack Henry's Enterprise Workflow solution to help the bank increase efficiency, accuracy, and timeliness. "Following a rigorous two-year evaluation process involving over 60 stakeholders, we selected Jack Henry as our technology provider for their open, scalable technology, and culture," said Scott Setlock, Chief Operating Officer at Mercantile Bank. "Their expertise and commitment to delivering results gives us confidence that they will fully support our long-term growth plans – namely continuing our organic growth, expanding into new markets, and pursuing acquisitions that are the right strategic fit for our bank." Mercantile Bank was drawn to Jack Henry's commitment to client success. "Jack Henry's approach mirrors the way we treat our customers," Setlock added. "We share Midwestern values and a mission-driven mindset, which makes Jack Henry an ideal fit for Mercantile to help our customers achieve their financial goals." "Mercantile Bank is a forward-thinking bank with deep roots in Michigan communities," said Jonathan Baltzell, President of Bank Solutions at Jack Henry. "I am confident that Jack Henry is positioned to help Michigan's largest community bank continue to differentiate with the service and modern technology they need to build financial health and loyalty in their communities." About Jack Henry & Associates, Inc.® Jack Henry® (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For nearly 50 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,400 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at jackhenry.com. About Mercantile BankMercantile Bank is a wholly owned subsidiary of Mercantile Bank Corporation. Mercantile provides financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units. Distinguished by exceptional service, knowledgeable staff, and a commitment to the communities it serves, Mercantile is one of the largest Michigan-based banks with assets of approximately $6.2 billion. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM." For more information about Mercantile, visit www.mercbank.com, and follow us on Facebook, Instagram, X (formerly Twitter) @MercBank, and LinkedIn @merc-bank. SOURCE Jack Henry & Associates, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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