CASS INFORMATION SYSTEMS INC

Listed Company

CASSCIK 0000708781NasdaqAcceleratedServices-Business Services, NecMissouriFY ends Dec 31

Period

FY 2025

Revenue

$190.75M

Net Income

$35.12M

Total Assets

$2.61B

Equity

$243.00M

Shares Out

12.90M

Op. Cash Flow

$37.44M

Business

Cass Information Systems Inc provides payment and information processing services to large manufacturing, distribution and retail enterprises across the United States. It offers freight invoice rating, payment processing, auditing, accounting and transportation information, utility, waste and telecom expense management, an integrated B2B payment platform (CassPay), and church management and online generosity software. Key business segments include Transportation Information Services, Utility and Waste Expense Management, Telecom Information Services, TouchPoint, CassPay and its bank subsidiary, Cass Commercial Bank. The company distributes services nationwide via proprietary internet delivery systems, electronic banking channels and partnerships with service providers.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fee revenues	108	110	106	122	109
Total fee revenue and other income	110	114	110	125	110
Interest and fees on loans	62	55	51	39	35
Taxable	17	13	14	10	3
Exempt from federal income taxes	4	4	4	6	7
Interest on federal funds sold and other short-term investments	14	16	14	6	726,000
Total interest income	98	88	83	62	45
Interest on deposits	16	20	16	3	1
Interest on short-term borrowings	8,000	0	116,000	0	0
Interest Expense, Operating	16	20	16	3	—
Net interest income	81	68	66	59	44
Provision for (release of) credit losses	348,000	447,000	−550,000	1	−130,000
Net interest income after provision for (release of) credit losses	81	67	67	57	44
Total net revenue	191	181	177	182	154
Total personnel expenses	110	109	104	106	92
Occupancy	3	3	3	4	4
Equipment	10	8	7	7	7
Amortization of intangible assets	1	692,000	692,000	680,000	859,000
Other operating expense	30	29	28	22	17
Total operating expense	152	158	143	140	120
Income from continuing operations, before income tax expense	39	23	34	43	34
Income tax expense	8	5	7	8	5
Net income from continuing operations	31	19	28	—	—
Basic Earnings Per Share (in dollars per share)	2.66	1.42	2.22	2.58	2.03
Diluted Earnings Per Share (in dollars per share)	2.61	1.39	2.18	2.53	2
Bad debt expense	−2	8	0	0	—
Salaries and commissions	81	80	76	85	—
Share-based compensation expense	4	3	4	7	—
Profit Sharing Expense	6	4	6	—	—
Net periodic pension cost	0	4	878,000	−2	—
Other benefits	19	17	18	17	—
Gain (Loss) on Sale of Investments	−4	−45,000	−173,000	—	—
Revenue Not from Contract with Customer, Other	7	5	5	—	946,000
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	4	610,000	2	—	—
Net income	35	19	30	35	29
Income (Loss) from Continuing Operations, Per Basic Share	2.36	1.37	2.06	—	—
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.3	0.05	0.16	—	—
Income (Loss) from Continuing Operations, Per Diluted Share	2.31	1.35	2.02	—	—
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.3	0.04	0.16	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	26	19	21	21	12
Short-term investments	366	330	352	180	503
Cash and cash equivalents	392	350	372	201	515
Investment securities available-for-sale, at fair value	771	528	627	754	673
Loans	1,061	1,082	1,014	1,083	961
Less allowance for credit losses	14	13	13	14	12
Loans, net	1,048	1,069	1,001	1,069	949
Payments in advance of funding	165	209	199	294	291
Premises and equipment, net	29	31	30	20	18
Investments in bank-owned life insurance	52	50	49	48	43
Goodwill	16	16	12	17	14
Other intangible assets, net	4	5	3	4	3
Accounts and drafts receivable from customers	69	56	111	96	5
Other assets	60	68	68	69	43
Total assets	2,606	2,395	2,479	2,573	2,555
Noninterest-bearing	513	251	524	643	583
Interest-bearing	687	717	616	614	639
Total deposits	1,200	968	1,141	1,257	1,222
Accounts and drafts payable	1,125	1,130	1,071	1,068	1,050
Other liabilities	38	46	37	42	37
Total liabilities	2,363	2,166	2,249	2,367	2,309
Preferred stock, par value $0.50 per share; 2,000,000 shares authorized and no shares issued	0	0	0	0	0
Common stock, par value $0.50 per share; 40,000,000 shares authorized; 15,505,772 shares issued at December 31, 2025 and 2024; 12,917,637 and 13,504,104 shares outstanding at December 31, 2025 and 2024, respectively.	8	8	8	8	8
Additional paid-in capital	207	206	208	207	204
Retained earnings	167	148	146	132	112
Common shares in treasury, at cost (2,588,135 shares at December 31, 2025 and 2,001,668 shares at December 31, 2024, respectively)	−112	−88	−84	−81	−79
Accumulated other comprehensive loss	−27	−45	−47	−59	453,000
Total shareholders equity	243	229	230	206	246
Total liabilities and shareholders equity	2,606	2,395	2,479	2,573	2,555
Disposal Group, Including Discontinued Operation, Assets	0	14	—	—	—
Disposal Group, Including Discontinued Operation, Liabilities	0	22	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net amortization of premium/discount on investment securities	974,000	4	4	6	7
Depreciation	6	5	4	4	4
Loss on sales of securities	4	45,000	173,000	−15,000	−51,000
Investments in bank-owned life insurance	2	1	1	—	—
Increase (decrease) in current income tax liability	4	−192,000	−2	724,000	206,000
ASC 715 pension adjustment, net of tax	0	5	806,000	2	−2
Increase in accounts receivable	−322,000	−4	−3	−3	−602,000
Other operating activities, net	−11	5	−49,000	−884,000	−6
Proceeds from sales of securities available-for-sale	130	60	112	4	64
Proceeds from maturities of securities available-for-sale	83	153	39	61	97
Purchases of securities available-for-sale	−435	−120	−15	−232	−494
Net decrease (increase) in loans	21	−68	69	−122	−69
Decrease (increase) in payments in advance of funding	44	−10	95	−2	−97
Purchases of premises and equipment, net	−6	−9	−12	−6	−4
Asset acquisition	0	−3	0	−5	0
Net increase (decrease) in noninterest-bearing demand deposits	262	−273	−118	60	89
Net (decrease) increase in interest-bearing demand and savings deposits	−46	95	−34	−18	90
Net increase in time deposits	16	5	36	−7	−9
Net (increase) decrease in accounts and drafts receivable from customers	−14	55	−15	−91	6,000
Net (decrease) increase in accounts and drafts payable	−5	76	5	17	215
Cash dividends paid	−17	−16	−16	−15	−15
Purchase of common shares for treasury	−26	−7	−6	−5	−31
Other financing activities, net	−1	−2	−834,000	−594,000	−850,000
Net cash provided by (used in) financing activities	150	−66	−150	−59	338
Net increase (decrease) in cash and cash equivalents	43	−23	172	−314	−156
Cash paid for interest	16	20	16	3	1
Cash paid for income taxes	5	6	9	8	6
Asset Acquisition, Consideration Transferred, Contingent Consideration	0	4	0	0	—
Net cash provided by operating activities	37	39	37	52	35
Cash Provided by (Used in) Operating Activities, Discontinued Operations	−1	2	2	—	—
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	39	37	35	—	—
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	−145	5	287	—	—
Cash Provided by (Used in) Investing Activities, Discontinued Operations	−99,000	−817,000	−2	—	—
Net cash (used in) provided by investing activities	−145	4	285	−306	−529
Proceeds from Divestiture of Businesses	18	0	0	—	—
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	170	−67	−148	—	—
Cash Provided by (Used in) Financing Activities, Discontinued Operations	−20	2	−2	—	—

Filings

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