First Quarter Results
(All comparisons refer to the first quarter of 2022, except as noted)
- Net income of $7.1 million, or $0.51 per diluted common share.
- Increase in total revenues of $7.2 million, or 17.2%.
- Return on average equity of 13.76%.
- Increase in net interest margin to 3.23% from 2.36%.
- Increase in facility expense transactions and dollar volumes of 5.3% and 14.4%, respectively.
- Maintained strong overall liquidity with short-term investments at March 31, 2023, of $210.5 million. There were no borrowings outstanding at March 31, 2023.
- Maintained exceptional credit quality.
- Continued to make progress on technology initiatives to increase operational efficiency.
ST. LOUIS - (BUSINESS WIRE) - Apr. 17, 2023 - Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported first quarter 2023 earnings of $0.51 per diluted share, a decrease of 15.0% from the $0.60 per diluted share it earned in the first quarter of 2022. Net income for the period was $7.1 million, a decrease of 13.8% from the $8.3 million earned in the same period in 2022.