Second Quarter 2022 Results
(All comparisons refer to the second quarter of 2021, except as noted)
- Earned record quarterly net income and diluted earnings per share.
- Increase in diluted earnings per share of 29.2%, to $.62 from $.48.
- Increase in net income of 21.9%, to $8.6 million from $7.0 million.
- Increase in return on average equity to 16.53% from 10.83%.
- Processed record quarterly transportation dollar volumes of $11.4 billion, a 27.7% increase.
- Increase in financial fees of $3.1 million, or 41.6%.
- Increase in average payments in advance of funding of $95.3 million, or 48.2%.
- Increase in average loans, excluding PPP loans, of $174.4 million, or 21.8%.
- Maintained exceptional credit quality.
ST. LOUIS--(BUSINESS WIRE)--Jul. 14, 2022-- Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported second quarter 2022 earnings of $.62 per diluted share, an increase of 29.2% from the $.48 per diluted share it earned in the second quarter of 2021. Net income for the period was $8.6 million, an increase of 21.9% from the $7.0 million earned in the same period in 2021. Diluted earnings per share and net income also increased 3.3% and 3.7%, respectively as compared to the first quarter of 2022.