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Cass Information Systems, Inc. - $CASS STOCK NEWS

Welcome to our dedicated page for Cass Information Systems news (Ticker: $CASS), a resource for investors and traders seeking the latest updates and insights on Cass Information Systems stock.

Cass Information Systems Inc (NASDAQ: CASS) is a leading provider of integrated information and payment management solutions. The company disburses an impressive $38 billion annually on behalf of its clients across North America and Europe. Cass offers customized solutions in three primary areas: Freight Payment, Telecom Expense Management, and Utility/Facilities-Related Expense Management. Additionally, Cass serves as a behind-the-scenes provider for other companies’ branded B2B payment processing and commerce solutions.

What sets Cass apart in the industry is its affiliation with Cass Commercial Bank, which was founded in 1906. This connection provides a unique level of financial support and credibility. Cass Information Systems operates through two main segments: Information Services and Banking Services. The Information Services segment, which includes transportation invoice rating, payment processing, auditing, accounting, and transportation information, is the company's primary revenue generator. The Banking Services segment complements these offerings with financial services.

Cass excels in processing and paying energy invoices for numerous utilities, including electricity, gas, and waste management services. Their robust payment solutions are tailored for large manufacturing, distribution, and retail enterprises, ensuring efficient and accurate expense management. The company is a member of the Russell 2000® Index, reflecting its stability and standing in the stock market.

Recent achievements include the continued expansion of their client base and advancements in their technological platforms, ensuring high levels of accuracy and efficiency. Ongoing projects focus on enhancing their digital payment solutions and expanding their service offerings to meet the evolving needs of large enterprises.

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Cass Information Systems and FreightWaves SONAR have announced a strategic partnership aimed at enhancing supply chain intelligence for the freight and logistics industry.

Cass, a leader in freight audit and payment solutions, will serve as a critical channel partner for the SONAR Supply Chain Intelligence (SCI) tool, allowing its customers to access industry rate information and benchmark their data effectively.

The partnership will enable Cass customers to integrate their data within the SCI platform, thereby streamlining processes, improving cost and service dynamics benchmarking, assessing financial risk, and evaluating Scope 3 carbon emissions.

Cass President Tony Urban and FreightWaves SONAR COO & CFO Spencer Piland emphasize that this partnership will optimize transportation costs and enhance supply chain planning for their mutual clients.

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Cass Commercial Bank celebrates its 118th anniversary, highlighting a legacy of financial excellence and community service since its founding in 1906. President Dwight Erdbruegger emphasized the dedication of the bank's team and the loyalty of its customers as key contributors to its success. Over the years, Cass Commercial Bank has evolved from Cass Bank and Trust Company to meet changing customer needs while maintaining core principles of integrity and reliability. The anniversary celebration included a breakfast event with customers and community members. Cass Commercial Bank, headquartered in St. Louis, Missouri, focuses on personalized service and innovative solutions to help businesses achieve their financial goals.

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Cass Information Systems, Inc. (Nasdaq: CASS) has launched Amplify by Cass™, an addition to the Cass Financial Suite® aimed at improving working capital levels for enterprises and their freight carriers. This solution bridges the gap between shippers' efficiency and carriers' need for timely payments, promoting a healthier financial ecosystem within the supply chain.

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Cass Information Systems, Inc. (Nasdaq: CASS) reported first quarter 2024 earnings of $0.52 per diluted share, with net income of $7.2 million. The company maintained exceptional credit quality, with no non-performing loans or charge-offs. Despite a freight recession impacting revenue and profitability, Cass onboarded new facility clients successfully. Transportation dollar volumes decreased, but processing fees and facility expense dollar volumes increased. The company saw growth in loans, but a decrease in average deposits and accounts payable.
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Cass Commercial Bank introduces Equipment Finance Division to provide tailored leasing solutions for businesses, offering cost-effective access to capital assets. President Dwight Erdbruegger emphasizes the flexibility and expertise of the new division, ensuring quick approvals and efficient solutions.
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Cass Information Systems, Inc. (Nasdaq: CASS) reported a net income of $8.4 million, or $0.61 per diluted common share, for the fourth quarter of 2023. The return on average equity was 16.06%, and there was an increase in net interest margin to 3.30% from 3.15%. The company maintained exceptional credit quality with no non-performing loans or charge-offs. Despite the decrease in transportation dollar volumes, there was a 9.7% increase in facility expense transaction volumes. The company also reported a decrease in net income compared to the same period in 2022, but an increase compared to the third quarter of 2023. Transportation dollar volumes and facility expense dollar volumes experienced fluctuations during the fourth quarter of 2023. Processing fees and financial fees increased, while net interest income decreased. The company also recorded a release of credit losses and an increase in personnel and non-personnel expenses. Despite these fluctuations, total shareholders' equity has increased since December 31, 2022.
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Cass Information Systems, Inc. (Nasdaq: CASS) has been recognized as a 2024 FedEx Certified Freight Bill Audit and Pay (FBAP) Provider. The company processes $44 billion in transportation services, supporting global companies such as PepsiCo, BASF, Caterpillar, and Toyota. Cass enhances its clients' relationships with more than 14,000 carriers and processed over 167 million packages in 2022 through its advanced parcel spend management solution.
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Cass Information Systems reports third-quarter 2023 earnings of $0.54 per diluted share, a decrease from the previous year. Net income for the period was $7.4 million, a decrease of 16.0% from the same period in 2022. The company's financial results have been impacted by a decrease in payment float and deposit balances. However, the company anticipates an improvement in profitability in future quarters.
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FAQ

What services does Cass Information Systems Inc provide?

Cass offers integrated payment and information management solutions, including freight payment, telecom expense management, and utility/facilities-related expense management.

How much does Cass Information Systems disburse annually?

Cass disburses approximately $38 billion annually on behalf of its clients in North America and Europe.

What makes Cass Information Systems unique in the industry?

The support of Cass Commercial Bank, founded in 1906, gives Cass Information Systems a unique position in the market by providing a solid financial backing.

Which segments does Cass Information Systems operate in?

Cass operates in two segments: Information Services, which generates the majority of the revenue, and Banking Services.

What type of invoices does Cass Information Systems process?

Cass processes various invoices including transportation, telecom, and energy invoices such as electricity, gas, and waste management.

What is the primary revenue segment for Cass Information Systems?

The Information Services segment, encompassing transportation invoice rating, payment processing, and accounting, is the primary revenue generator for Cass.

Is Cass Information Systems part of any stock index?

Yes, Cass Information Systems is part of the Russell 2000® Index.

What recent advancements has Cass Information Systems made?

Cass has expanded its client base and enhanced its technological platforms for better accuracy and efficiency in payment processing.

What industries does Cass Information Systems serve?

Cass serves large manufacturing, distribution, and retail enterprises across the United States.

What ongoing projects is Cass Information Systems currently focusing on?

Cass is focusing on enhancing its digital payment solutions and expanding service offerings to meet evolving enterprise needs.

Cass Information Systems, Inc.

Nasdaq:CASS

CASS Rankings

CASS Stock Data

551.61M
12.21M
10.56%
60.22%
1.38%
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