Fourth Quarter Results
(All comparisons refer to the fourth quarter of 2023, except as noted)
- Net income of $4.6 million, or $0.33 per diluted common share.
- Successfully terminated defined benefit pension plan resulting in one-time expense of $3.5 million.
- Increase in net interest margin to 3.55% from 3.30%.
- Increase in facility expense transaction volumes of 20.3%.
- Completed acquisition of AcuAudit from Acuitive Solutions LLC.
- Maintained exceptional credit quality, with no non-performing loans or charge-offs.
- Repurchased 79,713 shares of Company stock at weighted average price of $44.02.
ST. LOUIS--(BUSINESS WIRE)--Jan. 23, 2025 - Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported fourth quarter 2024 earnings of $0.33 per diluted share, as compared to $0.61 in the fourth quarter of 2023 and $0.21 in the third quarter of 2024. Net income for the period was $4.6 million, a decrease of 45.4% from $8.4 million in the same period in 2023 and an increase of $2.9 million, or 56.4%, as compared to the third quarter of 2024. For the year ended December 31, 2024, the Company reported net income and earnings per diluted share of $19.2 million and $1.39, respectively, as compared to $30.1 million and $2.18, respectively, for the year ended December 31, 2023.
