Cass Information Systems Reports Second Quarter 2023 Results

Second Quarter Results
(All comparisons refer to the second quarter of 2022, except as noted)

• Net income of $7.1 million, or $0.52 per diluted common share.
• Increase in total revenues of $4.0 million, or 9.0%.
• Return on average equity of 13.37%.
• Increase in net interest margin to 3.25% from 2.54%.
• Increase in facility expense transaction volume of 8.8%.
• Maintained exceptional credit quality.
• Continued to make progress on technology initiatives to increase operational efficiency.
• Repurchased 63,305 shares of Company stock.

ST. LOUIS - (BUSINESS WIRE) - Jul. 20, 2023-- Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported second quarter 2023 earnings of $0.52 per diluted share, as compared to $0.62 in the second quarter of 2022 and $0.51 in the first quarter of 2023. Net income for the period was $7.1 million, a decrease of 16.6% from $8.6 million in the same period in 2022 and a slight increase of $21,000 as compared to the first quarter of 2023.

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