Cass Information Systems Inc - CASS STOCK NEWS

Cass Information Systems announced the appointment of Todd Wills as the new senior vice president and general manager of its utilities business, effective April 18, 2022. He replaces Gary Langfitt, who will retire at the year's end after 23 years of leadership. Wills brings over 20 years of experience in data, analytics, and technology, previously serving as managing director at CAS and holding roles at Emerson Electric. Cass, which disburses over $80 billion annually and has total assets exceeding $2.5 billion, is included in the Russell 2000.

Cass Information Systems reported record first quarter 2022 results with a net income of $8.3 million, up 16.8% from the previous year. Diluted earnings per share rose by 22.4% to $0.60. The company processed transportation dollar volumes of $10.9 billion, marking a 37.3% increase, while financial fees increased 50.5%. Average loans (excluding PPP) grew by 24.6%. Operating expenses increased by 11.6%, driven by higher wages and technology investments. The company maintained strong credit quality with no charge-offs.

Cass Information Systems (NASDAQ: CASS) has promoted Martin Resch to president, adding to his current role as COO. Eric Brunngraber continues as chairman and CEO. Resch, who joined in November 2020, has demonstrated strategic execution in the invoice payment and information services sector. His expanded role aims to enhance responsibilities in technology and revenue sources. Cass, founded in 1906, manages over $80 billion in disbursements annually and has total assets exceeding $2.5 billion, supported by Cass Commercial Bank.

Cass Information Systems reported a robust financial performance for Q4 2021, with earnings per share rising 25% to $0.55 and net income up 20% to $7.7 million compared to Q4 2020. Transportation invoice and dollar volumes surged by 2.8% and 38.7%, respectively, driven by supply chain disruptions and increasing fuel surcharges. For the full year, EPS increased 16% to $2.00, with revenues reaching $154.1 million. The board declared a quarterly dividend of $0.28 and highlighted ongoing stock repurchases of 278,919 shares in Q4, reflecting the company's strong capital position.

Cass Information Systems (NASDAQ: CASS) has appointed Wendy Henry to its board of directors. Henry, a retired certified public accountant, brings extensive experience in financial and accounting issues, having previously served as Managing Partner at BKD, LLP in St. Louis. She is recognized for her leadership in managing audits for various organizations. Cass, which disburses over $80 billion annually and has total assets exceeding $2.5 billion, aims to leverage Henry's expertise to enhance its services and governance.

Cass Information Systems reported a 20% increase in third-quarter earnings per diluted share, reaching $.48, up from $.40 in 2020. Net income rose 18% to $6.8 million.

Revenue grew 8.2% to $38.7 million, driven by transportation volume increases of 40%. Despite a decline in net interest margin from 2.59% to 2.32%, the company declared a 4% dividend increase and plans to repurchase up to 750,000 shares.

Cass Information Systems reported Q2 2021 earnings of $.48 per share, a 30% increase year-over-year. Net income rose to $7.0 million, up 29% from $5.4 million in Q2 2020. Key metrics showed a 29.7% increase in Transportation Invoice Volume and a 56.9% rise in Transportation Dollar Volume. Revenues reached $38.4 million, a 13.2% increase from the previous year, driven by new customer wins and economic recovery. The company declared a Q3 dividend of $.27 per share, reflecting its solid operating performance.

Cass Information Systems has appointed Teresa D. Meares as vice president and general manager of its waste and sustainability management business in Jacksonville, Florida. With over 25 years of experience, Meares aims to identify new partnership opportunities, expand offerings, and drive growth in this critical market. Gary Langfitt, the president of expense management services, expressed enthusiasm for her leadership qualities that align with the company's sustainability focus. Cass Information Systems is a leading provider of integrated information and payment management solutions.

Cass Information Systems, Inc. (Nasdaq: CASS) has introduced Cass FreightClaim360, a cloud-based freight claims management application designed for carriers and logistical service providers. This application automates the claims lifecycle, offering carriers enhanced visibility and built-in workflows. It aims to replace the manual and inefficient processes currently used by many in the industry. Developed by TranSolutions, a subsidiary of MercuryGate, FreightClaim360 is integrated with an existing claims application for shippers, enhancing communication between carriers and shippers. Cass continues to expand its product offerings in 2021.