Guaranty Bancshares, Inc. Invests with JAM FINTOP Banktech Fund
September 10 2021 - 7:00AM
Business Wire
Accelerating Technology Adoption at
Community Banks
Guaranty Bancshares, Inc., (NASDAQ: GNTY), the parent company of
Guaranty Bank & Trust, N.A., today announced that it is an
investor in JAM FINTOP Banktech, L.P., an investment fund designed
to help develop and accelerate technology adoption at community
banks across the United States. Uniquely, all 66 of the fund’s
limited partners, of which Guaranty is one, are community banks.
The fund was created through a partnership with JAM Special
Opportunity Venture (JSOV), an affiliate of Jacobs Asset Management
(JAM), and FINTOP Capital.
The fund brings together seasoned fintech entrepreneurs and bank
experts to invest in the next generation of companies changing the
way financial institutions and their customers move, track and
interact with money and other financial services. Areas of focus
include: digital account opening and servicing, loan origination
systems, digital loan collections, retail point of sale and
payments, automated cash flow management, cybersecurity, fraud
identification and workflow automation. “Our path towards digital
transformation is based on leveraging the best technologies as well
as the right partners. The JAM FINTOP Banktech Fund brings both to
the table, facilitating a solution-oriented and forward looking
approach to partnering with fintechs that create a competitive edge
for our bank,” said Joel Johnson, Guaranty’s Chief Digital
Officer.
In conjunction with our investment, Guaranty participates in the
fund’s Community Banking advisory committee, which provides an
avenue for extensive dialogue and interaction with fintech
companies and fund leaders, as well as other community bank
investors, for the purpose of establishing broad areas of focus for
the fund and exposing our bank leadership to emerging
technologies.
“The value that community banks deliver is immeasurable, but
they have to innovate to compete. Through our partnership with
FINTOP we can support banks as they map out their technology
strategy,” said Adam Aspes, a General Partner at JSOV. FINTOP’s
Managing Partner, Joe Maxwell, added, “With JAM, we’re helping
community banks find solutions that make them more competitive and
cost-efficient. We believe community banks can prosper if they
embrace the right technology and we see JAM FINTOP Banktech helping
them achieve that goal.”
Ty Abston, CEO of Guaranty stated, “We are proud to be a part of
this unique investment dedicated to innovative strategies that will
help community banks compete with the largest banks out there.
Participating in this fund will increase our exposure to emerging
technologies that will allow our bank to quickly adapt to changing
consumer behaviors and the increased desire to complete banking
transactions digitally.”
ABOUT GUARANTY BANCSHARES, INC. and GUARANTY BANK &
TRUST
Guaranty Bancshares, Inc. is a bank holding company that
conducts commercial banking activities through its wholly-owned
subsidiary, Guaranty Bank & Trust, N.A. As one of the oldest
regional community banks in Texas, Guaranty Bank & Trust
provides its customers with a full array of relationship-driven
commercial and consumer banking products and services, as well as
mortgage, trust, and wealth management services. Guaranty Bank
& Trust has 31 banking locations across 24 Texas communities
located within the East Texas, Dallas/Fort Worth, greater Houston
and Central Texas regions of the state. As of June 30, 2021,
Guaranty Bancshares, Inc. had total assets of $2.93 billion, total
loans of $1.89 billion and total deposits of $2.53 billion. Visit
www.gnty.com for more information.
ABOUT JAM FINTOP
JAM FINTOP is a joint venture between JAM Special Opportunity
Ventures (“JSOV”) and FINTOP Capital. The partnership brings
together bank experts and seasoned fintech entrepreneurs to invest
in companies changing the way financial institutions and their
customers move, track, and interact with money. Jacobs Asset
Management, an affiliate of JSOV, has a 26-year history investing
in public and private community banks, and FINTOP Capital is a
leading fintech investor with over 140 years of collective
experience.
JAM FINTOP Banktech raised $150 million in April 2021 to help
accelerate technology adoption at community banks across the United
States. Uniquely, all 66 of the fund’s limited partners are
community banks. The $600+ billion of combined assets of the fund’s
limited partners would rank as the fifth largest bank in the
nation. JAM FINTOP’s second fund, JAM FINTOP Blockchain, will make
investments in blockchain infrastructure, on-ramps and businesses
and is currently being marketed to Qualified Purchasers. For more
information visit www.jamfintop.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210910005038/en/
Guaranty Contact Cappy Payne Senior Executive Vice
President & CFO Guaranty Bancshares, Inc. 1-888-572-9881
investors@gnty.com JAM FINTOP Contact Matt Kelley Director,
JAM FINTOP Bank Network 1-646-831-6842 matt@jampartners.com
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