Cass Information Systems, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 20, 2023 at 08:30 am
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Cass Information Systems, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 48.21 million compared to USD 44.22 million a year ago. Net income was USD 7.14 million compared to USD 8.56 million a year ago. Basic earnings per share from continuing operations was USD 0.53 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 0.62 a year ago.
For the six months, revenue was USD 97.55 million compared to USD 86.33 million a year ago. Net income was USD 14.26 million compared to USD 16.82 million a year ago. Basic earnings per share from continuing operations was USD 1.05 compared to USD 1.24 a year ago. Diluted earnings per share from continuing operations was USD 1.03 compared to USD 1.22 a year ago.
Cass Information Systems, Inc. is a provider of integrated information and payment management solutions. The Company enables enterprises to control their supply chains, communications networks, facilities and other operations. Its segments include Information Services and Banking Services. The Information Services segment provides transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations. In addition, this segment provides church management software and on-line generosity services primarily for faith-based ministries. The Banking Services segment provides banking services primarily to privately held businesses, franchise restaurants and faith-based ministries, as well as supporting the banking needs of the Information Services segment. The Company's bank subsidiary, Cass Commercial Bank, supports its payment operations. The Company offers various loans, including Commercial Real Estate (CRE) and Faith-based CRE.
CASS INFORMATION SYSTEMS, INC. 
