Third Quarter 2022 Results
(All comparisons refer to the third quarter of 2021, except as noted)
- Earned record quarterly net income and diluted earnings per share.
- Increase in diluted earnings per share of 33.3%, to $.64 from $.48.
- Increase in net income of 29.3%, to $8.8 million from $6.8 million.
- Increase in return on average equity to 16.84% from 10.83%.
- Processed record quarterly transportation dollar volumes of $11.5 billion, a 21.1% increase.
- Increase in financial fees of $2.6 million, or 30.5%.
- Increase in average payments in advance of funding of $63.8 million, or 29.8%.
- Increase in average loans, excluding PPP loans, of $147.3 million, or 17.6%.
- Increase in net interest margin to 2.90% from 2.32%
- Maintained exceptional credit quality.
ST. LOUIS--(BUSINESS WIRE)--Oct. 13, 2022-- Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported third quarter
2022 earnings of $.64 per diluted share, an increase of 33.3% from the $.48 per diluted share it earned in the third quarter of 2021. Net income for the
period was $8.8 million, an increase of 29.3% from the $6.8 million earned in the same period in 2021. Diluted earnings per share and net income also
increased 3.2% and 2.8%, respectively as compared to the second quarter of 2022.