Brentwood, Tennessee – (The Hosting News) – March 22, 2007 – Financial institution web hosting and design technology solutions firm, Goldleaf Financial Solutions, Inc., has acquired Dallas-based, Check 21 solutions, image import, and cash letter creation firm, Community Banking Systems (CBS).
CBS specializes in helping community financial institutions streamline processes to enhance productivity, in order to acquire more business and compete against larger financial institutions. Its product line takes a progressive approach to check imaging, as one of the first companies to market a fully integrated, browser-based check and document imaging system.
Lynn Boggs, CEO of Goldleaf Financial Solutions remarked, â€œThe CBS acquisition enables Goldleaf to continue its mission to be a valuable partner and single source provider for community financial institutions. CBSâ€™s product line strengthens and complements Goldleafâ€™s current offerings, brings over 100 new customer relationships to our organization and uniquely positions Goldleaf to advance its strategy to leverage its payments expertise. Combining CBSâ€™s solutions with Goldleafâ€™s existing capabilities creates one of the most comprehensive community bank payment processing solutions available in the market today.â€
CBS will become a business unit of Goldleaf Financial Solutions, and its executive management team, including President Sean Pennock and Jeremy Cockrill, chief software architect, will join Goldleaf and continue to provide leadership to the image delivery business unit, based in Dallas, Texas.
Sean Pennock, President of CBS offered, â€œTo date, CBS has committed to delivering the most advanced back-office imaging applications specifically designed for the community banker. With this transaction, we will continue to deliver consistent, high-quality solutions coupled with outstanding client service. Using our collective knowledge, expertise and market-leading solutions, Goldleaf will accelerate our leadership position in the payments sector.â€
Boggs continued, â€œWith all our acquisitions, we seek key strategic alliances that allow us to meet our long-term goals; complement our organic growth; blend with our corporate culture; and exceed the expectations of our clients. We saw a cultural fit in CBS, particularly within its employees and management and in its commitment to the community bank marketplace.â€
Goldleaf Financial Solutions, Inc. (GFSI) offers a product suite that provides core data processing, item processing and check imaging, ACH origination and processing, remote check capture and deposit processing, accounts receivable financing solutions, a teller automation system, turn-key leasing solutions, financial institution website design and hosting and retail inventory management services. Goldleaf believes its suite of products and services allows financial institutions and small to medium-sized business customers to compete more effectively in today’s aggressive financial services marketplace, to grow trusted financial relationships and to enhance profitability through the efficient use of technology and an expanded community presence.
To learn more about Goldleaf Financial Solutions, please visit: www.goldleaf.com.