BROADWAY & SEYMOUR TO ACQUIRE BANCCORP SYSTEMS.CHARLOTTE, N.C.--(BUSINESS WIRE)--December 22, 1994--William W. Neal, chairman and chief executive officer of Broadway & Seymour, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BSIS BSIS Bureau of Security and Investigative Services (California, USA) BSIS Battlefield Strategic Information System ), and Phillip E. Sorrell, president of BancCorp Systems, announced today that Broadway & Seymour has signed a Letter of Intent to acquire BancCorp Systems. BancCorp Systems, headquartered in Amarillo, Texas “Amarillo” redirects here. For other uses, see Amarillo (disambiguation). Amarillo is the 14th-largest city in the U.S. state of Texas and the seat of Potter County. , is one of the nation's premier providers of trust accounting systems to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. market. Management anticipates the transaction will be completed by Feb. 1, 1995. Neal commented: "Since our acquisition of Trust Systems, Inc. in 1991, Broadway & Seymour has become the leading supplier of in-house trust systems to the nation's 100 largest banks. Users of our AMtrust system include Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Chemical Bank, NationsBank and PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank. Around this product and expertise we have built an extensive practice of trust and asset management solutions. As we have expanded our presence in the top tier of banks, we have recognized the opportunity to expand our solutions to meet the similar needs of our 500 community banks. "In talking with our community banks, we found that a number of them were already using BancCorp systems and were quite pleased with their products and services. With this additional product suite and the new and innovative ways we are providing our larger scale AMtrust product, Broadway & Seymour is further demonstrating its commitment to providing asset management solutions to financial institutions of all sizes," added Neal. Sorrell commented, "Having provided quality trust solutions since 1983 to over 400 community banks, non-profit organizations A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. and institutions managing multi-currency assets, we look forward to being an active part of Broadway and Seymour's expanding role in the trust industry." -0- Broadway & Seymour is a provider of client-based information technology solutions to the financial marketplace and the professionals who serve that market. It offers products, software development and support, and systems integration outsourcing. CONTACT: Broadway & Seymour, Charlotte
David L. Durham, 704/372-4281
OR
Ludgate Communications, New York
Kristin M. Anderson, 212/688-5144
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