Cass Information Systems (CASS) posts Q1 2026 EPS growth, boosts margin and cuts non-performing loans
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Cass Information Systems, Inc. reported strong first quarter 2026 results with net income of $8.8 million and diluted EPS of $0.67. Adjusted net income from continuing operations was $8.7 million and adjusted diluted EPS was $0.66, up 23.7% and 26.9% from the prior-year quarter.
Net interest margin expanded to 3.95% from 3.75%, supported by higher yields on loans and securities and a lower average cost of deposits. Asset quality remained strong with no loan charge-offs, an allowance for credit losses to loans ratio of 1.27%, and non-performing loans reduced by $3.9 million, or 55.1%, since December 31, 2025.
Transportation and facility dollar volumes grew, while transaction counts declined, reflecting higher freight rates and energy prices. The company kept personnel expenses flat year over year through automation and consolidation, and repurchased 64,802 shares at an average price of $44.34. The board declared a quarterly dividend of $0.32 per share and elected John J. Drabik to the board as three long-serving directors retired.
Positive
- Strong earnings growth and margin expansion: Adjusted net income from continuing operations rose 23.7% and adjusted diluted EPS increased 26.9% year over year, supported by a 20 basis point rise in net interest margin to 3.95% and higher average interest-earning assets.
- Solid asset quality and capital returns: Non-performing loans fell by $3.9 million, or 55.1%, since December 31, 2025 with no loan charge-offs, while Cass returned capital via a $0.32 per share dividend and repurchase of 64,802 shares.
Negative
- None.
Insights
Cass delivered double-digit adjusted earnings growth with expanding margins and solid credit quality.
Cass Information Systems posted Q1 2026 adjusted net income from continuing operations of $8.7M and adjusted diluted EPS of $0.66, up 23.7% and 26.9% versus Q1 2025. Total revenues were $49.1M, while net income reached $8.8M and diluted EPS was $0.67.
Profitability benefited from a higher net interest margin of 3.95% compared with 3.75% a year earlier, driven by better yields on loans and securities and a lower average cost of total deposits. At the same time, personnel expenses were flat year over year as average full-time equivalent employees declined 7.9%, reflecting automation and facilities consolidation.
Credit metrics were favorable, with no loan charge-offs, an allowance for credit losses to loans ratio of 1.27%, and non-performing loans down $3.9M, or 55.1%, since December 31, 2025. Capital deployment included a quarterly dividend of $0.32 per share and repurchases of 64,802 shares for $2.9M, alongside a Tier 1 leverage ratio around 10.05%. Future performance will depend on sustaining loan growth in the targeted 6–8% range for 2026 and maintaining asset quality as volumes and funding balances evolve.
8-K Event Classification
5 items: 2.02, 5.02, 5.07, 8.01, 9.01
5 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net income: $8.8M
Diluted EPS: $0.67
Adjusted diluted EPS (cont. ops): $0.66
+5 more
8 metrics
Net income
$8.8M
Q1 2026 consolidated net income
Diluted EPS
$0.67
Q1 2026 diluted earnings per share
Adjusted diluted EPS (cont. ops)
$0.66
Q1 2026, up 26.9% vs Q1 2025
Total revenues
$49.1M
Q1 2026 total revenues from continuing operations
Net interest margin
3.95%
Q1 2026 tax-equivalent net interest margin; 3.75% in Q1 2025
Non-performing loans
$3.1M
Balance at March 31, 2026 after $3.9M reduction since Dec. 31, 2025
Quarterly dividend
$0.32/share
Second quarter 2026 dividend payable June 15, 2026
Share repurchases
64,802 shares
Q1 2026 buybacks at $44.34 average price
Key Terms
net interest margin, allowance for credit losses, non-performing loans, discontinued operations, +2 more
6 terms
net interest margin financial
"Increase in net interest margin to 3.95%, compared to 3.75% in the prior year quarter."
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
allowance for credit losses financial
"an allowance for credit losses to loans ratio of 1.27%."
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
non-performing loans financial
"reduced non-performing loans by $3.9 million, or 55.1% as compared to December 31, 2025."
Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.
discontinued operations financial
"The Company has applied discontinued operations accounting in accordance with FASB Accounting Standards Codification."
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
Tier 1 leverage ratio financial
"Tier 1 leverage ratio at 3/31/26 10.05%."
Tier 1 leverage ratio measures a bank’s core capital — the money that can absorb losses — as a share of its total assets, showing how much of its balance sheet is funded by real loss-absorbing capital rather than borrowed money. Investors use it like a safety gauge: a higher ratio means a bigger cushion against shocks and lower risk of insolvency, similar to how a thicker spare tire reduces the chance of being stranded.
non-GAAP financial measures financial
"Certain of the financial measures and ratios the Company presents ... are non-GAAP financial measures."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Total revenues: $49.1M
Q1 2026
Total revenues
$49.1M
Net income
$8.8M
Diluted EPS
$0.67
Adjusted net income (cont. ops)
$8.7M
+23.7% YoY
Adjusted diluted EPS (cont. ops)
$0.66
+26.9% YoY
Net interest margin
3.95%
from 3.75% in Q1 2025
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 8-K
______________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): April 21, 2026
______________________
(Exact name of registrant as specified in its charter)
______________________
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | ||||
(314 ) 506-5500
(Registrant’s telephone number, including area code)
______________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act. | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act. | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On April 23, 2026, Cass Information Systems, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter of fiscal 2026. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Also on April 23, 2026, the Company made available on the Investors section of the Company’s website at www.cassinfo.com, an investor presentation and an earnings supplement that includes information about the Company’s business and developments and certain financial information relating to the first quarter of fiscal 2026. The information contained in these presentations is summary information that is intended to be considered in the context of the Company’s Securities and Exchange Commission filings and other public announcements that the Company may make, by press release or otherwise, from time to time. A copy of the investor presentation is attached hereto as Exhibit 99.2 and incorporated herein by reference. A copy of the earnings supplement is attached hereto as Exhibit 99.3 and incorporated herein by reference.
The Company has used, and intends to continue using, the Investors portion of its website to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, investors are encouraged to monitor the Company’s website in addition to following press releases, SEC filings, and public conference calls and webcasts.
The information reported under this Item 2.02 of Form 8-K, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 21, 2026, Ralph W. Clermont, James L. Lindemann, and Sally H. Roth retired from the Company’s Board of Directors after not standing for re-election at the 2026 Annual Meeting of Shareholders (the “Annual Meeting”). Their decisions not to stand for re-election are not the result of any dispute or disagreement with the Company on any matter relating to the operations, policies or practices of the Company.
On April 22, 2026, the Company issued a press release announcing the election of Mr. Drabik as a director and the retirements of Mr. Clermont, Mr. Lindemann and Ms. Roth, respectively. A copy of this press release is filed as Exhibit 99.4 to this Current Report on Form 8-K and incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
On April 21, 2026, the Company held its 2026 Annual Meeting. The following is a summary of the matters voted on at the Annual Meeting:
(a) Election of seven directors to serve a one-year term ending in 2027, as follows:
| Nominee | Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||||
| Eric H. Brunngraber | 8,637,669 | 89,737 | 65,045 | 1,836,269 | ||||||||||
| John J. Drabik | 8,711,926 | 16,556 | 63,969 | 1,836,269 | ||||||||||
| Benjamin F. Edwards IV | 8,493,630 | 229,398 | 69,423 | 1,836,269 | ||||||||||
| Wendy J. Henry | 8,700,246 | 16,166 | 76,039 | 1,836,269 | ||||||||||
| Ann W. Marr | 8,665,332 | 51,447 | 75,672 | 1,836,269 | ||||||||||
| Martin H. Resch | 8,676,113 | 47,802 | 68,536 | 1,836,269 | ||||||||||
| Joseph D. Rupp | 8,704,448 | 22,009 | 65,994 | 1,836,269 | ||||||||||
All director nominees were elected.
2
Accordingly, on April 21, 2026, John J. Drabik was elected as a member of the Company’s Board of Directors. As a member of the Board, Mr. Drabik has been appointed to serve on the Company’s Audit and Risk Committee.
As a member of the Board, Mr. Drabik will be entitled to receive the same compensation provided to the Company’s other non-employee directors, which includes a cash retainer and an annual grant of restricted stock valued at $80,000. Restricted stock awards are issued under the Company’s 2023 Omnibus Stock and Performance Compensation Plan. The shares carry voting and dividend rights and vest in one year on the first anniversary date of the award or, if elected by the director, vest at retirement from the Board.
With respect to the election of Mr. Drabik, there are no transactions and no proposed transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K, no arrangements or understandings with any other person required to be disclosed pursuant to Item 5.02(d) of Form 8-K and 401(b) of Regulation S-K, and no family relationships required to be disclosed pursuant to Item 401(d) of Regulation S-K.
On April 22, 2026, the Company issued a press release announcing the retirements of Mr. Clermont, Mr. Lindemann and Ms. Roth, described above and the election of Mr. Drabik as a director. A copy of this press release is filed as Exhibit 99.4 to this Current Report on Form 8-K and incorporated herein by reference.
(b) Advisory approval of the Company’s executive compensation:
| Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||
| 8,612,297 | 138,937 | 41,217 | 1,836,269 | ||||||||
The Company’s executive compensation was approved by advisory vote.
(c) Ratification of the selection of KPMG LLP as the Company’s independent registered public accounting firm
for 2026:
| Votes For | Votes Against | Abstentions | ||||||
| 10,525,001 | 89,838 | 13,881 | ||||||
The selection of KPMG LLP to serve as the Company’s independent registered public accounting firm for 2026 was ratified.
Item 8.01. Other Events.
On April 21, 2026, the Company’s Board of Directors declared a second quarter dividend of $0.32 per share payable on June 15, 2026 to shareholders of record on June 5, 2026.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |||||||
| 99.1 | Press release issued by Cass Information Systems, Inc. dated April 23, 2026. | |||||||
| 99.2 | Investor presentation made available on the Investors section of the Company’s website. | |||||||
| 99.3 | Earnings supplement made available on the Investors section of the Company’s website. | |||||||
| 99.4 | Press release issued by Cass Information Systems, Inc. dated April 22, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 23, 2026
| CASS INFORMATION SYSTEMS, INC. | ||||||||
| By: | /s/ Martin H. Resch | |||||||
| Name: | Martin H. Resch | |||||||
| Title: | President and Chief Executive Officer | |||||||
| By: | /s/ Michael J. Normile | |||||||
| Name: | Michael J. Normile | |||||||
| Title: | Executive Vice President and Chief Financial Officer | |||||||
2
Exhibit 99.1
Contact: Cass Investor Relations
ir@cassinfo.com
April 23, 2026
Cass Information Systems reports First Quarter 2026 Results
Reports another quarter of strong EPS growth
Continued net interest margin expansion
Strong expense control
ST. LOUIS – Cass Information Systems, Inc. (Nasdaq: CASS) (the Company or Cass) today reported its first quarter 2026 earnings.
First Quarter Financial Highlights
•Net income and diluted earnings per share of $8.8 million and $0.67, respectively.
•Adjusted net income and adjusted diluted earnings per share from continuing operations of $8.7 million and $0.66, respectively, increases of 23.7% and 26.9%, respectively, compared to the prior year quarter.
•Increase in net interest margin to 3.95%, compared to 3.75% in the prior year quarter.
•Increase in facility dollar volumes of 7.4% compared to the prior year quarter.
•Personnel expense levels flat compared to the prior year quarter as a result of ongoing automation and efficiency initiatives.
•Continued strong asset quality with no loan charge-offs and an allowance for credit losses to loans ratio of 1.27%. In addition, reduced non-performing loans by $3.9 million, or 55.1% as compared to December 31, 2025.
•Repurchased 64,802 shares of Company stock at a weighted average price of $44.34.
Martin Resch, the Company’s President and Chief Executive Officer, noted, “The management team is proud of how we have started the year. We continue to drive revenue growth while keeping core expenses relatively flat compared to prior periods.” Resch added, “Going forward in 2026, we see opportunities to grow net interest income driven by rising funding balances and the deployment of those funds into loans and investment securities, as well as increasing financial fees from higher demand for advances through Amplify and other quick pay solutions. The ability to combine revenue growth with expense control, primarily due to automation and the ongoing consolidation within our Facilities division, offers very compelling earnings momentum for us in coming periods."
Earnings for the first quarter of 2026 are summarized as follows:
($ in thousands, except per share data) | Three Months Ended | ||||||||||||||||||||||||||||
3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Net income from continuing operations | $ | 8,739 | $ | 8,189 | $ | 9,212 | $ | 5,160 | $ | 8,551 | |||||||||||||||||||
| Net income | $ | 8,832 | $ | 8,189 | $ | 9,106 | $ | 8,855 | $ | 8,966 | |||||||||||||||||||
| Diluted earnings per share from continuing operations | $ | 0.66 | $ | 0.62 | $ | 0.69 | $ | 0.38 | $ | 0.63 | |||||||||||||||||||
| Diluted earnings per share | $ | 0.67 | $ | 0.62 | $ | 0.68 | $ | 0.66 | $ | 0.66 | |||||||||||||||||||
| Return on average equity | 14.63% | 13.45% | 15.29% | 15.35% | 15.91% | ||||||||||||||||||||||||
| Return on average assets | 1.42% | 1.28% | 1.44% | 1.48% | 1.51% | ||||||||||||||||||||||||
| Net interest margin | 3.95% | 3.93% | 3.87% | 3.78% | 3.75% | ||||||||||||||||||||||||
($ in thousands, except per share data) | Three Months Ended | ||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Net income from continuing operations (GAAP) | $ | 8,739 | $ | 8,189 | $ | 9,212 | $ | 5,160 | $ | 8,551 | |||||||||||||||||||
Net income adjustments(1) | (4) | 821 | (3) | 2,674 | (1,489) | ||||||||||||||||||||||||
Adjusted net income from continuing operations (Non-GAAP) (1) | $ | 8,735 | $ | 9,010 | $ | 9,209 | $ | 7,834 | $ | 7,062 | |||||||||||||||||||
| Diluted earnings per share from continuing operations (GAAP) | $ | 0.66 | $ | 0.62 | $ | 0.69 | $ | 0.38 | $ | 0.63 | |||||||||||||||||||
Adjusted diluted earnings per share from continuing operations (Non-GAAP) (1) | $ | 0.66 | $ | 0.68 | $ | 0.69 | $ | 0.58 | $ | 0.52 | |||||||||||||||||||
(1)Refer to explanation of use of non-GAAP financial measures and reconciliation of adjusted net income from continuing operations and adjusted diluted earnings per share from continuing operations as presented later in this earnings release.
First Quarter 2026 Financial Commentary
(All comparisons refer to the first quarter of 2025, except as noted)
Transportation Invoice and Dollar Volumes – Transportation invoice volumes of 8.1 million decreased 3.1% as compared to the first quarter of 2025. Transportation dollar volumes of $9.0 billion increased 4.5% as compared to the first quarter of 2025. The average dollars per invoice were $1,115 in the first quarter of 2026, compared to $1,093 in the fourth quarter of 2025 and $1,034 in the first quarter of 2025. Invoice volumes remain lower than prior periods primarily due to the ongoing freight recession. Dollars per invoice increased as compared to the first quarter of 2025 due to an increase in overall freight rates, as well as the impact of tariffs. A more detailed analysis of Cass Freight Index® changes can be found at www.cassinfo.com.
Facility Expense Invoice and Dollar Volumes – Facility expense invoice volumes of 4.0 million decreased 4.4% as compared to the first quarter of 2025. Facility expense dollar volumes totaled $6.3 billion, an increase of 7.4% as compared to the first quarter of 2025. The increase in facility dollar volumes was primarily driven by rising energy prices.
Processing Fees – Processing fees decreased $741,000, or 4.5% over the same period in the prior year due to lower transportation and facility transaction volumes.
Financial Fees – Financial fees, earned on a transactional level basis for invoice payment services when making customer payments, increased $470,000, or 4.7%. The increase in financial fees was primarily due to an increase in average payments in advance of funding of 2.0%. The Company has recently seen increased demand for its quick pay solutions and continues to focus on the rollout of its Amplify working capital solution as well as other opportunities to increase payments in advance of funding and resulting financial fees in future quarters.
Net Interest Income – Net interest income increased $1.9 million, or 10.1%. The increase in net interest income was attributable to the net interest margin improving to 3.95% as compared to 3.75% in the same period last year, in addition to an increase in average interest-earning assets of $110.2 million, or 5.2%.
The Company’s net interest margin improvement was driven by increases in the average yield on loans and investment securities of 20 and 83 basis points, respectively, combined with a decrease in the average cost of total deposits of 15 basis points, partially offset by a decrease in the yield on short-term investments of 73 basis points. The increase in loan yield
was driven by the continued maturity and subsequent re-pricing of fixed rate loans originated in the years 2021 and 2022 to current market interest rates as well as the payoff of a non-performing loan which increased the loan yield by seven basis points. The increase in the investment securities yield was driven by the partial repositioning of the portfolio at the end of the second quarter of 2025 as well as purchases of investments at current market rates. The decline in the cost of total deposits and yield on short-term investments was driven by the reduction in the federal funds rate.
The Company would expect continued expansion in its net interest margin in future quarters to the extent 3-5 year U.S. Treasury interest rates stay relatively consistent or increase as compared to current levels.
Provision for Credit Losses - The Company recorded a provision for credit losses of $61,000 during the first quarter of 2026 as compared to $905,000 in the first quarter of 2025. The provision for credit losses for the first quarter of 2026 was largely driven by loan growth.
Personnel Expenses - Personnel expenses were flat as compared to the first quarter of 2025. Salaries and commissions decreased $395,000, or 2.0%, as a result of the decrease in average full-time equivalent employees (“FTEs”) of 7.9% due to automation and the ongoing consolidation within our Facilities division, partially offset by merit increases. Share-based compensation and employee profit sharing increased $198,000 and $132,000, respectively, due to the improvement in net income from continuing operations. Other benefits increased $65,000, or 1.3%, due to higher health insurance costs, partially offset by the decrease in average FTEs.
The Company continues to expect a gradual decline in its FTEs in future quarters as a result of the continued focus on AI-enabled systems and other operational efficiency opportunities.
Equipment Expense - Equipment expense increased $138,000 as compared to the first quarter of 2025 primarily due to an increase in depreciation and licensing and maintenance expense on software related to recently completed technology initiatives.
Other Expense - Other expense increased $590,000, or 8.5%, as compared to the first quarter of 2025. The increase is primarily due to higher business development, postage and professional fees.
Loans - When compared to December 31, 2025, loans increased $27.5 million, or 2.6%. Other commercial and industrial loans increased $22.7 million during the first quarter of 2026. The Company expects loan growth of 6-8% for full year 2026.
Payments in Advance of Funding – Average payments in advance of funding increased $3.4 million, or 2.0%, as compared to the first quarter of 2025, primarily due to a 4.5% increase in transportation dollar volumes. The ending balance of payments in advance of funding increased $96.1 million, or 58.4%, as compared to December 31, 2025. The increase is due to a recent higher level of demand for the Company’s quick pay solutions as well as timing of quarter end advances.
Deposits – Average deposits increased $36.6 million, or 3.5%, when compared to the first quarter of 2025.
Accounts and Drafts Payable - Average accounts and drafts payable increased $100.1 million, or 9.3%, as compared to the first quarter of 2025. The increase in these balances, which are non-interest bearing, are primarily reflective of the increase in transportation and facility dollar volumes of 4.5% and 7.4%, respectively.
Short-term Borrowings - The Company had outstanding borrowings of $145.0 million on its lines of credit at March 31, 2026 primarily in order to fund a $96.1 million increase in payments in advance of funding as compared to December 31, 2025.
Shareholders’ Equity - Total shareholders’ equity decreased $1.2 million as compared to December 31, 2025 as a result of the repurchase of Company stock of $2.9 million, dividends of $4.1 million, and an increase in accumulated other comprehensive loss of $3.4 million, partially offset by net income of $8.8 million.
Dividend - On April 21, 2026, the Company’s Board of Directors approved a quarterly dividend of $0.32 per share with the dividend payable on June 15, 2026 to shareholders of record on June 5, 2026.
Repurchase of Common Stock - The Company repurchased 64,802 shares of common stock during the current quarter. The Company anticipates further repurchases in coming quarters with an overall objective of maintaining a leverage ratio of approximately 10.00%. Future levels of repurchases will depend on market conditions, earnings, balance sheet growth and potential acquisition opportunities.
Asset Quality - Non-performing loans totaled $3.1 million at March 31, 2026, a decrease of $3.9 million as compared to December 31, 2025. The Company received a full payoff on one of its three non-performing loans during the first quarter of 2026 and does not believe there is more than nominal loss exposure on the remaining two loans based on collateral position.
About Cass Information Systems
Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing over $94 billion annually on behalf of clients, and with total assets of $2.5 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Commercial Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000®. More information is available at www.cassinfo.com.
On April 7, 2025, the Company signed an Asset Purchase Agreement providing for the sale of its Telecom Expense Management & Managed Mobility Services (“TEM”) business to Asignet USA Inc. The sale closed on June 30, 2025. The Company has applied discontinued operations accounting in accordance with FASB Accounting Standards Codification (“ASC”), Topic 205-20, “Presentation of Financial Statements – Discontinued Operations,” to the assets and liabilities sold related to the Company's TEM Business Unit as of and for the periods ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, as applicable. All financial information in this earnings release is reported on a continuing operations basis, unless otherwise noted.
About Non-GAAP Financial Measures
Certain of the financial measures and ratios the Company presents, including “adjusted net income from continuing operations,” and “adjusted diluted earnings per share from continuing operations,” are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). The Company refers to these financial measures and ratios as “non-GAAP financial measures.” The Company considers the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding certain revenue and expense items that the Company believes are not indicative of its primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. The Company believes that management and investors benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning, forecasting, analyzing and comparing past, present and future periods.
These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and you should not rely on non-GAAP financial measures alone as measures of the Company’s performance. The non-GAAP financial measures the Company presents may differ from non-GAAP financial measures used by the Company’s peers or other companies. The Company compensates for these differences by providing the equivalent GAAP measures whenever the Company presents the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing the Company’s performance. A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.
Forward Looking Information
All statements other than statements of historical fact included in this release, including without limitation the Company’s future prospects and performance, the business strategy and the plans and objectives of the Company's management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “estimate,” “could,” “should,” “would,” “likely,” “may,” “will,” “plan,” “intend,” “believes,” “expects,” “anticipates,” “projected,” and variations of these terms and similar expressions. Although
the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Actual results or business conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors including, but not limited to, those described below and in Part I, Item 1A, “Risk Factors” of our most recent Annual Report.
Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to general economic, market or business conditions unrelated to the Company’s operating performance, including inflation, changes in interest rates, changes in energy prices, supply chain disruptions, financial institution disruptions, geopolitical conflicts, public health emergencies and declines in consumer confidence and discretionary spending; the Company’s ability to compete with its competitors and increase market share; the Company’s ability to maintain compliance with rules and regulations applicable to our business operations and industry; increased regulatory examination scrutiny or new regulatory requirements; whether the Company’s customers continue to utilize its payment processing and related services; unfavorable developments concerning customer credit quality; risk associated with lending concentrations including, but not limited to, faith-based ministries and franchise restaurants; liquidity risk; and risks associated with cyber-attacks and data breaches.
Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
Consolidated Statements of Income (unaudited)
($ and numbers in thousands, except per share data)
| Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Processing fees | $ | 15,728 | $ | 16,304 | $ | 16,655 | $ | 16,700 | $ | 16,469 | |||||||||||||||||||
| Financial fees | 10,431 | 9,860 | 10,416 | 10,161 | 9,961 | ||||||||||||||||||||||||
| Total fee revenue | $ | 26,159 | $ | 26,164 | $ | 27,071 | $ | 26,861 | $ | 26,430 | |||||||||||||||||||
| Interest and fees on loans | 15,277 | 15,521 | 15,632 | 15,837 | 15,350 | ||||||||||||||||||||||||
| Interest and dividends on investment securities | 6,995 | 6,767 | 5,679 | 4,799 | 4,147 | ||||||||||||||||||||||||
| Interest on short-term investments | 2,832 | 3,078 | 3,860 | 3,003 | 3,893 | ||||||||||||||||||||||||
| Total interest income | $ | 25,104 | $ | 25,366 | $ | 25,171 | $ | 23,639 | $ | 23,390 | |||||||||||||||||||
| Interest expense | 3,888 | 3,895 | 4,151 | 4,164 | 4,116 | ||||||||||||||||||||||||
| Net interest income | $ | 21,216 | $ | 21,471 | $ | 21,020 | $ | 19,475 | $ | 19,274 | |||||||||||||||||||
| (Provision for) release of credit losses | (61) | 389 | 193 | (25) | (905) | ||||||||||||||||||||||||
| Gain (loss) on sale of investment securities | 5 | 38 | 4 | (3,558) | (18) | ||||||||||||||||||||||||
| Other | 1,782 | 1,827 | 1,768 | 1,645 | 1,626 | ||||||||||||||||||||||||
| Total revenues | $ | 49,101 | $ | 49,889 | $ | 50,056 | $ | 44,398 | $ | 46,407 | |||||||||||||||||||
| Salaries and commissions | 19,268 | 20,304 | 20,105 | 20,638 | 19,663 | ||||||||||||||||||||||||
| Share-based compensation | 1,439 | 1,009 | 1,018 | 918 | 1,241 | ||||||||||||||||||||||||
| Employee profit sharing | 1,634 | 1,514 | 1,685 | 1,583 | 1,502 | ||||||||||||||||||||||||
| Other benefits | 4,938 | 4,602 | 4,798 | 4,613 | 4,873 | ||||||||||||||||||||||||
| Total personnel expenses | $ | 27,279 | $ | 27,429 | $ | 27,606 | $ | 27,752 | $ | 27,279 | |||||||||||||||||||
| Occupancy | 681 | 643 | 734 | 669 | 721 | ||||||||||||||||||||||||
| Equipment | 2,432 | 2,548 | 2,513 | 2,562 | 2,294 | ||||||||||||||||||||||||
| Amortization of intangible assets | 293 | 293 | 293 | 293 | 293 | ||||||||||||||||||||||||
| Bad debt recovery | — | — | — | — | (2,000) | ||||||||||||||||||||||||
| Other | 7,533 | 8,988 | 7,295 | 6,843 | 6,943 | ||||||||||||||||||||||||
| Total operating expenses | $ | 38,218 | $ | 39,901 | $ | 38,441 | $ | 38,119 | $ | 35,530 | |||||||||||||||||||
| Income from continuing operations, before income tax expense | $ | 10,883 | $ | 9,988 | $ | 11,615 | $ | 6,279 | $ | 10,877 | |||||||||||||||||||
| Income tax expense | 2,144 | 1,799 | 2,403 | 1,119 | 2,326 | ||||||||||||||||||||||||
| Net income from continuing operations | $ | 8,739 | $ | 8,189 | $ | 9,212 | $ | 5,160 | $ | 8,551 | |||||||||||||||||||
| Income (loss) from discontinued operations, net of tax | 93 | — | (106) | 3,695 | 415 | ||||||||||||||||||||||||
| Net income | $ | 8,832 | $ | 8,189 | $ | 9,106 | $ | 8,855 | $ | 8,966 | |||||||||||||||||||
| Basic earnings per share from continuing operations | $ | .68 | $ | .63 | $ | .70 | $ | .39 | $ | .64 | |||||||||||||||||||
| Basic earnings (loss) per share from discontinued operations | .01 | — | (.01) | .28 | .03 | ||||||||||||||||||||||||
| Basic earnings per share | $ | .69 | $ | .63 | $ | .69 | $ | .67 | $ | .67 | |||||||||||||||||||
| Diluted earnings per share from continuing operations | $ | .66 | $ | .62 | $ | .69 | $ | .38 | $ | .63 | |||||||||||||||||||
| Diluted earnings (loss) per share from discontinued operations | .01 | — | (.01) | .28 | .03 | ||||||||||||||||||||||||
| Diluted earnings per share | $ | .67 | $ | .62 | $ | .68 | $ | .66 | $ | .66 | |||||||||||||||||||
Consolidated Balance Sheets (unaudited)
($ in thousands)
| As of | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 244,343 | $ | 392,268 | $ | 258,634 | $ | 218,165 | $ | 220,674 | |||||||||||||||||||
| Investment securities available-for-sale, at fair value | 785,343 | 770,772 | 717,369 | 599,541 | 576,510 | ||||||||||||||||||||||||
| Loans | 1,088,730 | 1,061,217 | 1,088,347 | 1,117,004 | 1,141,874 | ||||||||||||||||||||||||
| Less: Allowance for credit losses | (13,861) | (13,597) | (14,066) | (14,296) | (14,286) | ||||||||||||||||||||||||
| Loans, net | $ | 1,074,869 | $ | 1,047,620 | $ | 1,074,281 | $ | 1,102,708 | $ | 1,127,588 | |||||||||||||||||||
| Payments in advance of funding | 260,624 | 164,514 | 188,040 | 177,601 | 175,326 | ||||||||||||||||||||||||
| Premises and equipment, net | 29,903 | 29,449 | 30,287 | 30,700 | 31,748 | ||||||||||||||||||||||||
| Investments in bank-owned life insurance | 52,670 | 52,195 | 51,700 | 51,224 | 50,767 | ||||||||||||||||||||||||
| Goodwill and other intangible assets | 19,599 | 19,892 | 20,200 | 20,493 | 20,786 | ||||||||||||||||||||||||
| Accounts and drafts receivable from customers | 4,950 | 69,425 | 49,798 | 60,276 | 40,465 | ||||||||||||||||||||||||
| Other assets | 61,490 | 59,889 | 63,313 | 55,310 | 60,536 | ||||||||||||||||||||||||
| Assets of discontinued operations | — | — | — | — | 14,057 | ||||||||||||||||||||||||
| Total assets | $ | 2,533,791 | $ | 2,606,024 | $ | 2,453,622 | $ | 2,316,018 | $ | 2,318,457 | |||||||||||||||||||
| Liabilities and shareholders’ equity: | |||||||||||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||
| Non-interest bearing | $ | 406,113 | $ | 513,434 | $ | 407,169 | $ | 370,606 | $ | 363,798 | |||||||||||||||||||
| Interest-bearing | 699,570 | 686,599 | 627,491 | 633,189 | 636,277 | ||||||||||||||||||||||||
| Total deposits | $ | 1,105,683 | $ | 1,200,033 | $ | 1,034,660 | $ | 1,003,795 | $ | 1,000,075 | |||||||||||||||||||
| Accounts and drafts payable | 1,000,154 | 1,124,858 | 1,130,371 | 1,036,795 | 1,016,324 | ||||||||||||||||||||||||
| Short-term borrowings | 145,000 | — | — | — | — | ||||||||||||||||||||||||
| Other liabilities | 41,162 | 38,135 | 45,142 | 34,606 | 48,823 | ||||||||||||||||||||||||
| Liabilities of discontinued operations | — | — | — | — | 18,988 | ||||||||||||||||||||||||
| Total liabilities | $ | 2,291,999 | $ | 2,363,026 | $ | 2,210,173 | $ | 2,075,196 | $ | 2,084,210 | |||||||||||||||||||
| Shareholders’ equity: | |||||||||||||||||||||||||||||
| Common stock | $ | 7,753 | $ | 7,753 | $ | 7,753 | $ | 7,753 | $ | 7,753 | |||||||||||||||||||
| Additional paid-in capital | 206,807 | 207,052 | 205,925 | 204,842 | 203,755 | ||||||||||||||||||||||||
| Retained earnings | 171,797 | 167,092 | 163,038 | 158,005 | 153,278 | ||||||||||||||||||||||||
| Common shares in treasury, at cost | (114,366) | (112,148) | (103,835) | (97,103) | (91,025) | ||||||||||||||||||||||||
| Accumulated other comprehensive loss | (30,199) | (26,751) | (29,432) | (32,675) | (39,514) | ||||||||||||||||||||||||
| Total shareholders’ equity | $ | 241,792 | $ | 242,998 | $ | 243,449 | $ | 240,822 | $ | 234,247 | |||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 2,533,791 | $ | 2,606,024 | $ | 2,453,622 | $ | 2,316,018 | $ | 2,318,457 | |||||||||||||||||||
Consolidated Financial Summary (unaudited)
($ in thousands)
| As of or for Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| LOAN PORTFOLIO | |||||||||||||||||||||||||||||
| Commercial & Industrial: | |||||||||||||||||||||||||||||
| Franchise | $ | 233,088 | $ | 235,718 | $ | 249,855 | $ | 260,283 | $ | 258,539 | |||||||||||||||||||
| Leases | 123,914 | 119,186 | 123,601 | 111,657 | 124,290 | ||||||||||||||||||||||||
| Other | 220,863 | 198,194 | 196,273 | 211,629 | 229,514 | ||||||||||||||||||||||||
| Commercial Real Estate: | |||||||||||||||||||||||||||||
| Faith-Based | 396,758 | 397,608 | 407,074 | 410,917 | 403,525 | ||||||||||||||||||||||||
| Other | 114,107 | 110,511 | 111,544 | 122,518 | 126,006 | ||||||||||||||||||||||||
| Total loans | $ | 1,088,730 | $ | 1,061,217 | $ | 1,088,347 | $ | 1,117,004 | $ | 1,141,874 | |||||||||||||||||||
| AVERAGE BALANCES | |||||||||||||||||||||||||||||
| Interest-earning assets | $ | 2,214,838 | $ | 2,207,672 | $ | 2,189,384 | $ | 2,090,366 | $ | 2,104,603 | |||||||||||||||||||
| Loans | 1,066,371 | 1,081,819 | 1,095,412 | 1,125,899 | 1,109,526 | ||||||||||||||||||||||||
| Investment securities | 777,777 | 755,004 | 667,271 | 613,782 | 554,905 | ||||||||||||||||||||||||
| Short-term investments | 339,667 | 334,824 | 382,250 | 298,875 | 383,836 | ||||||||||||||||||||||||
| Payments in advance of funding | 176,987 | 175,009 | 175,705 | 176,191 | 173,590 | ||||||||||||||||||||||||
| Assets | 2,523,860 | 2,529,068 | 2,499,914 | 2,402,508 | 2,408,406 | ||||||||||||||||||||||||
| Non-interest bearing deposits | 421,702 | 421,548 | 406,241 | 393,054 | 405,183 | ||||||||||||||||||||||||
| Interest-bearing deposits | 648,261 | 614,165 | 610,403 | 615,921 | 628,214 | ||||||||||||||||||||||||
| Accounts and drafts payable | 1,172,102 | 1,214,865 | 1,209,416 | 1,122,739 | 1,072,013 | ||||||||||||||||||||||||
| Shareholders’ equity | $ | 244,850 | $ | 241,525 | $ | 236,208 | $ | 231,414 | $ | 228,615 | |||||||||||||||||||
YIELDS (tax equivalent)1 | |||||||||||||||||||||||||||||
| Net interest margin | 3.95% | 3.93% | 3.87% | 3.78% | 3.75% | ||||||||||||||||||||||||
| Interest-earning assets | 4.67% | 4.63% | 4.62% | 4.58% | 4.54% | ||||||||||||||||||||||||
| Loans | 5.81% | 5.69% | 5.66% | 5.64% | 5.61% | ||||||||||||||||||||||||
| Investment securities | 3.69% | 3.59% | 3.34% | 3.02% | 2.86% | ||||||||||||||||||||||||
| Short-term investments | 3.38% | 3.65% | 4.01% | 4.03% | 4.11% | ||||||||||||||||||||||||
| Total deposits | 1.47% | 1.49% | 1.62% | 1.66% | 1.62% | ||||||||||||||||||||||||
| Interest-bearing deposits | 2.43% | 2.52% | 2.70% | 2.71% | 2.66% | ||||||||||||||||||||||||
| ASSET QUALITY | |||||||||||||||||||||||||||||
| Allowance for credit losses to loans | 1.27% | 1.28% | 1.29% | 1.28% | 1.25% | ||||||||||||||||||||||||
| Non-performing loans | $ | 3,139 | $ | 6,992 | $ | 7,074 | $ | 3,380 | $ | — | |||||||||||||||||||
| Non-performing loans to total loans | 0.29% | 0.66% | 0.65% | 0.30% | —% | ||||||||||||||||||||||||
| Net loan charge-offs to loans | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
1 Yields are presented on a tax-equivalent basis assuming a tax rate of 21%.
Consolidated Financial Summary (unaudited) (continued)
($ and numbers in thousands, except average full-time equivalent employees)
| As of or for Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| SHARE DATA | |||||||||||||||||||||||||||||
| Weighted average common shares outstanding | 12,875 | 12,939 | 13,116 | 13,269 | 13,398 | ||||||||||||||||||||||||
| Weighted average common shares outstanding assuming dilution | 13,152 | 13,219 | 13,399 | 13,562 | 13,653 | ||||||||||||||||||||||||
| Period end common shares outstanding | 12,843 | 12,871 | 13,073 | 13,233 | 13,351 | ||||||||||||||||||||||||
| CAPITAL | |||||||||||||||||||||||||||||
| Common equity tier 1 ratio | 14.80% | 15.10% | 15.04% | 14.82% | 14.11% | ||||||||||||||||||||||||
| Total risk-based capital ratio | 15.63% | 15.95% | 15.90% | 15.67% | 14.94% | ||||||||||||||||||||||||
| Leverage ratio | 10.05% | 9.91% | 10.17% | 10.62% | 10.39% | ||||||||||||||||||||||||
| OTHER INFORMATION | |||||||||||||||||||||||||||||
| Transportation invoice volume | 8,098 | 8,376 | 8,884 | 8,837 | 8,355 | ||||||||||||||||||||||||
| Transportation dollar volume | $ | 9,032,515 | $ | 9,156,077 | $ | 9,277,722 | $ | 9,370,535 | $ | 8,643,138 | |||||||||||||||||||
| Facility expense invoice volume | 4,038 | 4,058 | 4,084 | 4,141 | 4,225 | ||||||||||||||||||||||||
| Facility expense dollar volume | $ | 6,253,208 | $ | 5,686,642 | $ | 6,233,369 | $ | 5,513,143 | $ | 5,822,935 | |||||||||||||||||||
| Average full-time equivalent employees | 923 | 939 | 958 | 985 | 1,002 | ||||||||||||||||||||||||
Assets and Liabilities of Discontinued Operations (unaudited)
($ in thousands)
| As of | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||
| Premises and equipment, net | $ | — | $ | — | $ | — | $ | — | $ | 3,605 | |||||||||||||||||||
| Goodwill and other intangible assets, net | — | — | — | — | 5,102 | ||||||||||||||||||||||||
| Other assets | — | — | — | — | 5,350 | ||||||||||||||||||||||||
| Assets of discontinued operations | $ | — | $ | — | $ | — | $ | — | $ | 14,057 | |||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||||||||
| Accounts and drafts payable | $ | — | $ | — | $ | — | $ | — | $ | 16,465 | |||||||||||||||||||
| Other liabilities | — | — | — | — | 2,523 | ||||||||||||||||||||||||
| Liabilities of discontinued operations | $ | — | $ | — | $ | — | $ | — | $ | 18,988 | |||||||||||||||||||
Income from Discontinued Operations (unaudited)
($ in thousands)
| Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Revenue: | |||||||||||||||||||||||||||||
| Processing fees | $ | — | $ | — | $ | — | $ | 3,807 | $ | 3,823 | |||||||||||||||||||
| Financial fees | — | — | — | 475 | 413 | ||||||||||||||||||||||||
| Other fees | 733 | 794 | 772 | 1,454 | 382 | ||||||||||||||||||||||||
| Gain on sale of TEM business | — | — | — | 3,550 | — | ||||||||||||||||||||||||
| Total revenue | $ | 733 | $ | 794 | $ | 772 | $ | 9,286 | $ | 4,618 | |||||||||||||||||||
| Operating expense: | |||||||||||||||||||||||||||||
| Salaries and commissions | 433 | 487 | 536 | 2,858 | 2,756 | ||||||||||||||||||||||||
| Share-based compensation | — | — | — | (16) | 43 | ||||||||||||||||||||||||
| Other benefits | 72 | 90 | 183 | 525 | 616 | ||||||||||||||||||||||||
| Total personnel expenses | $ | 505 | $ | 577 | $ | 719 | $ | 3,367 | $ | 3,415 | |||||||||||||||||||
| Occupancy | 23 | 24 | 23 | 180 | 181 | ||||||||||||||||||||||||
| Equipment | — | 9 | 1 | 49 | 51 | ||||||||||||||||||||||||
| Amortization of intangible assets | — | — | — | 9 | 9 | ||||||||||||||||||||||||
| Other | 81 | 184 | 170 | 754 | 434 | ||||||||||||||||||||||||
| Total operating expense | $ | 609 | $ | 794 | $ | 913 | $ | 4,359 | $ | 4,090 | |||||||||||||||||||
| Income (loss) from discontinued operations, before income tax expense (benefit) | $ | 124 | $ | — | $ | (141) | $ | 4,927 | $ | 528 | |||||||||||||||||||
| Income tax expense (benefit) | 31 | — | (35) | 1,232 | 113 | ||||||||||||||||||||||||
| Net income (loss) from discontinued operations | $ | 93 | $ | — | $ | (106) | $ | 3,695 | $ | 415 | |||||||||||||||||||
Other Information from Discontinued Operations (unaudited)
($ and numbers in thousands, except average full-time equivalent employees)
| Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Facility expense invoice volume | — | — | — | 126 | 133 | ||||||||||||||||||||||||
| Facility expense dollar volume | $ | — | $ | — | $ | — | $ | 244,782 | $ | 256,844 | |||||||||||||||||||
| Average full-time equivalent employees | 23 | 26 | 27 | 120 | 135 | ||||||||||||||||||||||||
Reconciliation of GAAP to Non-GAAP Financial Information (unaudited)
($ in thousands, except per share data)
| Three Months Ended | |||||||||||||||||||||||||||||
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | 3/31/25 | |||||||||||||||||||||||||
| Net income from continuing operations (GAAP) | $ | 8,739 | $ | 8,189 | $ | 9,212 | $ | 5,160 | $ | 8,551 | |||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||||||
| (Gain) loss on sale of investment securities | (5) | (38) | (4) | 3,558 | 18 | ||||||||||||||||||||||||
| Bad debt recovery | — | — | — | — | (2,000) | ||||||||||||||||||||||||
| Restructuring expense | — | 1,131 | — | — | — | ||||||||||||||||||||||||
Tax effect1 | 1 | (272) | 1 | (884) | 493 | ||||||||||||||||||||||||
| Adjusted net income from continuing operations (Non-GAAP) | $ | 8,735 | $ | 9,010 | $ | 9,209 | $ | 7,834 | $ | 7,062 | |||||||||||||||||||
| Diluted earnings per share from continuing operations (GAAP) | $ | 0.66 | $ | 0.62 | $ | 0.69 | $ | 0.38 | $ | 0.63 | |||||||||||||||||||
| Adjusted diluted earnings per share from continuing operations (Non-GAAP) | $ | 0.66 | $ | 0.68 | $ | 0.69 | $ | 0.58 | $ | 0.52 | |||||||||||||||||||
1 The tax effect is calculated using the Company’s effective statutory rate of 21% plus the state tax effect.
www.cassinfo.com | ©2026 Cass Information Systems | Earnings Supplement First Quarter 2026
www.cassinfo.com | ©2026 Cass Information Systems | Forward-Looking Information All statements other than statements of historical fact included in this release, including without limitation the Company’s future prospects and performance, the business strategy and the plans and objectives of the Company's management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “estimate,” “could,” “should,” “would,” “likely,” “may,” “will,” “plan,” “intend,” “believes,” “expects,” “anticipates,” “projected,” and variations of these terms and similar expressions. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Actual results or business conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors including, but not limited to, those described below and in Part I, Item 1A, “Risk Factors” of our most recent Annual Report. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to general economic, market or business conditions unrelated to the Company’s operating performance, including inflation, changes in interest rates, changes in energy prices, supply chain disruptions, financial institution disruptions, geopolitical conflicts, public health emergencies and declines in consumer confidence and discretionary spending; the Company’s ability to compete with its competitors and increase market share; the Company’s ability to maintain compliance with rules and regulations applicable to our business operations and industry; increased regulatory examination scrutiny or new regulatory requirements; whether the Company’s customers continue to utilize its payment processing and related services; unfavorable developments concerning customer credit quality; risk associated with lending concentrations including, but not limited to, faith- based ministries and franchise restaurants; liquidity risk; and risks associated with cyber-attacks and data breaches. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements. 2
www.cassinfo.com | ©2026 Cass Information Systems | • Net income and diluted earnings per share of $8.8 million and $0.67, respectively. • Adjusted net income and adjusted diluted earnings per share from continuing operations of $8.7 million and $0.66, increases of 23.7% and 26.9% compared to 1Q2025. • Increase in net interest margin to 3.95%, compared to 3.75% in 1Q2025 • Increase in facility dollar volumes of 7.4%, compared to 1Q2025. • Personnel expense levels flat compared to 1Q2025 as a result of ongoing automation and efficiency initiatives. • Continued strong asset quality with no loan charge-offs and an allowance for credit losses to loans ratio of 1.27%. In addition, reduced nonperforming loans by $3.9 million, or 55.1%, compared to December 31, 2025. • Repurchased 64,802 shares of Company stock at a weighted average price of $44.34. Q1 2026 Financial Highlights 3
www.cassinfo.com | ©2026 Cass Information Systems | Core Earnings Metrics $7.1M $8.7M Q1'25 Q1'26 $0.52 $0.66 Q1'25 Q1'26 ADJUSTED NET INCOME FROM CONTINUING OPERATIONS (1) ADJUSTED DILUTED EPS FROM CONTINUING OPERATIONS (1) (1) Refer to explanation of use of non-GAAP financial measures and reconciliation of adjusted net income from continuing operations and adjusted diluted earnings per share from continuing operations as presented later in this presentation. $9.0M $8.8M Q1'25 Q1'26 NET INCOME $0.66 $0.67 Q1'25 Q1'26 DILUTED EPS 4
www.cassinfo.com | ©2026 Cass Information Systems | The change in processing fees quarter to quarter is generally correlated to transportation and facility invoice volumes. Processing fees declined 4.5% as compared to 1Q 2025 due to lower transportation and facility transaction volumes. Transportation volumes remain lower as detailed in the Cass Freight Index®. The Company expects facility invoice volumes to increase over prior year quarters in 4Q 2026 as new clients are onboarded. 8.36M 8.10M Q1'25 Q1'26 4.23M 4.04M Q1'25 Q1'26 $16.5M $15.7M Q1'25 Q1'26 Processing Fees and Transaction Volumes TRANSPORTATION INVOICE VOLUMES FACILITY INVOICE VOLUMES PROCESSING FEES 5
www.cassinfo.com | ©2026 Cass Information Systems | $1.07B $1.17B Q1'25 Q1'26 Transportation dollar volumes increased 4.5% over 1Q 2025, due to the average dollars per transaction increasing 7.8%, partially offset by transaction volumes declining 3.1%. The average dollars per transaction increased due to increasing freight rates, as well as the impact of tariffs. Facility dollar volumes increased 7.4% over 1Q 2025 due to the average dollars per transaction increasing 12.4%, partially offset by transaction volumes declining 4.4%. The average dollars per transaction increased primarily due to rising energy prices. As a result of rising freight rates and energy prices, average accounts and drafts payable increased $100.1 million, or 9.3%, as compared to 1Q 2025, which positively impacts interest income as these funds are invested in cash and investment securities. Dollar Volumes and Accounts and Drafts Payable $8.64B $9.03B $1,034 $1,115 900 1000 1100 1200 1300 1400 1500 Q1'25 Q1'26 $5.82B $6.25B $1,378 $1,549 900 1100 1300 1500 1700 1900 Q1'25 Q1'26 TRANSPORTATION DOLLAR VOLUMES & $/INVOICE FACILITY DOLLAR VOLUMES & $/INVOICE 6 AVERAGE ACCOUNTS & DRAFTS PAYABLE
www.cassinfo.com | ©2026 Cass Information Systems | Financial fees increased $470,000, or 4.7%, from 1Q 2025. The Company experienced an increase in demand for its quick solutions to freight carriers during the quarter and continues to focus on strategies intended to increase overall adoption of its Amplify solution to carriers. Average payments in advance of funding increased $3.4 million, or 2.0% from 1Q 2025. The increase was primarily driven by the 4.5% increase in transportation dollar volumes. The percentage of transportation paid dollars advanced to freight carriers increased 46 basis points from 1Q 2025. The increase was driven by a recent higher level of demand for the Company's quick pay solutions due to adoption strategies and market conditions. Financial Fees and Payments in Advance of Funding $173.6M $177.0M Q1'25 Q1'26 $10.0M $10.4M Q1'25 Q1'26 AVERAGE PAYMENTS IN ADVANCE OF FUNDINGFINANCIAL FEES 7 6.68% 7.14% Q1'25 Q1'26 PERCENTAGE OF TRANSPORTATION PAID DOLLARS ADVANCED
www.cassinfo.com | ©2026 Cass Information Systems | Net interest income increased $1.9 million, or 10.1%, from 1Q 2025 driven by a higher net interest margin (NIM) and an increase in average interest-earning assets of $110.2 million, or 5.2%. The NIM improved 20 basis points from 1Q 2025 to 3.95% largely driven by increases in the average yield on loans and investment securities of 20 and 83 basis points, respectively, combined with a decline in the average cost of total deposits of 15 basis points. The Company generally benefits from a higher interest rate environment due to a large percentage of its funding sources being non-interest bearing. Net Interest Income / Margin NET INTEREST INCOME AVERAGE INTEREST-EARNING ASSETS NET INTEREST MARGIN $19.3M $21.2M Q1'25 Q1'26 $2.10B $2.21B Q1'25 Q1'26 3.75% 3.95% Q1'25 Q1'26 8
www.cassinfo.com | ©2026 Cass Information Systems | Loans increased $27.5 million, or 2.6%, as compared to December 31, 2025, driven by increases in C&I and equipment leases. The Company expects to achieve overall loan growth of 6-8% during full year 2026. The Company’s loan yield improved to 5.81% during 1Q 2026 as compared to 5.61% during 1Q 2025. The loan yield for 1Q 2026 was positively impacted by 7 basis points as a result of the full payoff of a non-performing loan. Loans and Loan Yield 9 Portfolio Composition 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 Franchise $258.5 $260.3 $249.9 $235.7 $233.1 Faith-Based 403.5 410.9 407.1 397.6 396.8 Leases 124.3 111.7 123.6 119.2 123.9 Other C&I 229.5 211.6 196.3 198.2 220.9 Other CRE 126.0 122.5 111.5 110.5 114.1 Ending Loans $1,141.8 $1,117.0 $1,088.3 $1,061.2 $1,088.7 Loan Yield 5.61% 5.64% 5.66% 5.69% 5.81% ACL/Loans 1.25% 1.28% 1.29% 1.28% 1.27% Net Charge-Offs - - - - - Non-Performing Loans/Loans - 0.30% 0.65% 0.66% 0.29% Franchise 21% Faith-Based 37% Leases 11% Other C&I 20% Other CRE 11% PORTFOLIO COMPOSITION (3/31/26) ($$ in millions)
www.cassinfo.com | ©2026 Cass Information Systems | Average deposits increased $36.6 million, or 3.5% as compared to 1Q 2025. Average total deposit cost declined 15 basis points to 1.47% during 1Q2026 driven by the reduction in short-term interest rates when comparing the periods. The Company is primarily focused on strategies to achieve high single digit growth in CassPay deposits on an annual basis. Deposits and Deposit Cost 10 AVERAGE DEPOSITS AVERAGE TOTAL DEPOSIT COST $1.03B $1.07B Q1'25 Q1'26 1.62% 1.47% Q1'25 Q1'26 AVERAGE DEPOSITS (3/31/26) Faith-Based 30% CassPay 26% Other 44%
www.cassinfo.com | ©2026 Cass Information Systems | Loans & Securities (book value) Repricing or Maturity 11 1 Year > 1 to 3 >3 to 5 > 5 Floating Fixed or Less Years Years Years Total Rate Rate Commercial and Industrial: Franchise 20,601 28,915 12,604 170,968 233,088 20,592 212,496 Leases 3,547 49,789 49,934 21,161 124,431 - 124,431 Other 106,278 39,457 57,723 16,896 220,354 84,587 135,767 Total C&I 130,426 118,161 120,261 209,025 577,873 105,179 472,694 Real Estate: Faith-based CRE 117,342 98,563 109,229 71,616 396,750 29,210 367,540 Commercial 47,208 36,225 26,732 1,926 112,091 30,163 81,928 Other - 51 - 1,965 2,016 - 2,016 Total real estate 164,550 134,839 135,961 75,507 510,857 59,373 451,484 Total loans 294,976 253,000 256,222 284,532 1,088,730 164,552 924,178 % of total 27% 23% 24% 26% 100% 15% 85% Weighted-average coupon rate 5.66% 5.20% 5.79% 5.75% 1 Year > 1 to 3 >3 to 5 > 5 Floating Fixed or Less Years Years Years Total Rate Rate Mortgage-backed 73,292 125,635 96,152 240,413 535,492 - 535,492 State and political 36,774 15,465 66,225 117,934 236,398 - 236,398 Corporate 3,000 6,240 21,591 - 30,831 5,950 24,881 Asset-backed 3,658 6,083 4,538 8,035 22,314 22,314 - Total investment securities 116,724 153,423 188,506 366,382 825,035 28,264 796,771 % of total 14% 19% 23% 44% 100% 3% 97% Total Loans at March 31, 2026 Repricing or Maturity Term Rate Structure Total Investment Securities (Book Value) at March 31, 2026 Maturity and Projected Principal Cash Flow Rate Structure
www.cassinfo.com | ©2026 Cass Information Systems | $27.3M $27.8M $27.6M $27.4M $27.3M Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 $35.5M $38.2M Q1'25 Q1'26 $37.5M $38.2M Q1'25 Q1'26 Total operating expenses were $38.2 million as compared to $35.5 million in 1Q2025. Operating expense for 1Q2025 includes a $2.0 million recovery of bad debt. Excluding the impact of this item, adjusted total operating expense was up 1.8% as compared to $37.5 million during 1Q2025. Personnel expenses were flat as compared to 1Q 2025. The Company’s consolidation within its Facilities division and continued expanded utilization of AI-enabled systems resulted in a 7.9% decline in average FTEs from 1Q2025 to 1Q2026. The Company believes it can keep adjusted total operating expense levels to 2.0% or less for the remaining quarters in 2026. Expenses PERSONNEL EXPENSES 12 ADJUSTED OPERATING EXPENSES(1)TOTAL OPERATING EXPENSES (1) Refer to explanation of use of non-GAAP financial measures and reconciliation of adjusted net income from continuing operations and adjusted diluted earnings per share from continuing operations as presented later in this presentation. AVERAGE FTEs 1,002 985 958 939 923 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Y/Y CHANGE IN FTEs
www.cassinfo.com | ©2026 Cass Information Systems | Prudent Stewards of Capital SHAREHOLDER RETURNS The company remains a consistent dividend payer and grower, paying regularly scheduled cash dividends since 1934. In addition, the Company repurchased 64,802 shares of common stock during the current quarter, resulting in a total cash return to shareholders of $7.0 million. The Company anticipates further repurchases in coming quarters with an overall objective of maintaining a leverage ratio of approximately 10%. Future levels of repurchases will depend on market conditions, earnings, balance sheet growth and potential acquisition opportunities. 13 $4.2M $4.1M $4.1M $4.1M $4.1M $5.1M $5.9M $6.7M $8.3M $2.9M Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1'26 Dividends Share Buybacks Tier 1 leverage ratio at 3/31/26 10.05% Common equity tier 1 risk-based ratio at 3/31/26 14.80% Tier 1 risk-based ratio at 3/31/26 14.80% Total risk-based ratio at 3/31/26 15.63% $12.4M $10.8M $10.0M $9.3M $7.0M
www.cassinfo.com | ©2026 Cass Information Systems | Compelling Opportunities for Future Value Creation Driving efficiency and improved results in data ingestion and client relations functions through AI Net interest income and margin growth as freight rates and energy prices rise and fixed rate interest-earning assets reprice in higher interest rate environment Opportunity to grow payment float and processing fees on Facility side given compelling value proposition to large companies Development of full product suite in Transportation with respect to freight audit and payment and supply chain finance provides a competitive advantage Highly efficient Bank with growth opportunities in all niche business lines Strong capital levels support growth initiatives and/or return to shareholders 14
www.cassinfo.com | ©2026 Cass Information Systems | Appendix 15
www.cassinfo.com | ©2026 Cass Information Systems | Use of Non-GAAP Financial Measures Certain of the financial measures and ratios the Company presents, including “adjusted net income from continuing operations,” “adjusted diluted earnings per share from continuing operations,” and “adjusted total operating expense from continuing operations,” are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). The Company refers to these financial measures and ratios as “non-GAAP financial measures.” The Company considers the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain expenditures or assets that the Company believes are not indicative of our primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. The Company believes that management and investors benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning, forecasting, analyzing and comparing past, present and future periods. These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and you should not rely on non-GAAP financial measures alone as measures of the Company’s performance. The non-GAAP financial measures the Company presents may differ from non-GAAP financial measures used by the Company’s peers or other companies. The Company compensates for these differences by providing the equivalent GAAP measures whenever the Company presents the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing the Company’s performance. A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables. 16
www.cassinfo.com | ©2026 Cass Information Systems | Reconciliation of GAAP to Non-GAAP Financial Information 17 03/31/26 12/31/25 09/30/25 06/30/25 03/31/25 Net income from continuing operations (GAAP) $ 8,739 $ 8,189 $ 9,212 $ 5,160 $ 8,551 Adjustments: (Gain) loss on sale of investment securities (5) (38) (4) 3,558 18 Bad debt (recovery) expense - - - - (2,000) Restructuring expense - 1,131 - - - Tax effect 1 (272) 1 (884) 493 Adjusted net income from continuing operations (Non- GAAP) $ 8,735 $ 9,010 $ 9,209 $ 7,834 $ 7,062 Diluted earnings per share from continuing operations (GAAP) $ 0.66 $ 0.62 $ 0.69 $ 0.38 $ 0.63 Adjusted diluted earnings per share from continuing operations (Non-GAAP) $ 0.66 $ 0.68 $ 0.69 $ 0.58 $ 0.52 Three Months Ended
www.cassinfo.com | ©2026 Cass Information Systems | Reconciliation of GAAP to Non-GAAP Financial Information (continued) 18 03/31/26 12/31/25 09/30/25 06/30/25 03/31/25 Total operating expense from continuing operations (GAAP) $ 38,218 $ 39,901 $ 38,441 $ 38,119 $ 35,530 Adjustments: Bad debt recovery - - - - 2,000 Restructuring expense - (1,131) - - - Adjusted total operating expense from continuing operations (Non-GAAP) $ 38,218 $ 38,770 $ 38,441 $ 38,119 $ 37,530 Three Months Ended
Cass Information Systems, Inc. Announces Appointment of John Drabik to Board of Directors and Retirements of Sally Roth, Ralph Clermont and Jim Lindemann April 22, 2026 ST. LOUIS, April 22, 2026 (GLOBE NEWSWIRE) -- Cass Information Systems, Inc. (NASDAQ: CASS) (the “Company”), a leading provider of payment processing and information solutions, today announced changes to its Board of Directors, effective April 21, 2026. John J. Drabik was elected as a member of the Board and also appointed to serve on the Company’s Audit and Risk Committee. Mr. Drabik is Executive Vice President and Chief Financial Officer of Energizer Holdings, Inc., where he oversees global finance, accounting, investor relations and information technology. He has been with Energizer and its predecessor organization since 2001 and has held senior leadership roles across corporate development, treasury, and accounting, including playing a key role in the company’s spin-off and its growth as a stand-alone public company. Prior to Energizer, Mr. Drabik began his career in public accounting at Arthur Andersen and later worked in the import/export division of May Department Stores. He holds a Bachelor of Science in Accountancy from the University of Missouri and an MBA from Washington University in St. Louis. “John brings deep financial expertise and public company leadership experience that will strengthen our Board,” said Martin Resch, President and Chief Executive Officer of Cass Information Systems, Inc. “We are pleased to welcome him to Cass.” The Company also announced that Sally H. Roth, James J. Lindemann, and Ralph W. Clermont retired from the Board of Directors after not standing for re-election at the Annual Meeting of Shareholders. Sally H. Roth (Sally) served as a director since 2019. Sally’s extensive career in banking has added substantial value to the Company, not only to the Board and its’ Nominating and Corporate Governance Committee, but also through her tenure on the Executive Loan Committee of Cass Commercial Bank. Ralph W. Clermont (Ralph) served as a director since 2015. Ralph has served the Company in a variety of committee memberships since his Board appointment, including as Chairman of the Audit and Risk Committee and member of the Nominating and Corporate Governance Committee. Ralph’s strategic guidance has been invaluable to the Company during his directorship. James L. Lindemann (Jim) served as a director since 2007. Jim’s distinguished career at Emerson Electric allowed him to bring valuable perspective to the Company from both strategic and governance standpoints. Jim served as Chairman of the Company’s Compensation Committee, providing valuable guidance on the compensation plans, policies and overall programs of the Company. “We are grateful for the many contributions and years of service Sally, Ralph, and Jim have made to Cass,” said Eric H. Brunngraber, Chairman of the Board. “Their contributions have meaningfully influenced the Company, and we are grateful for their leadership and commitment.” About Cass Information Systems Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control, and efficiency across their supply chains, communications networks, facilities, and other operations. Disbursing over $94 billion annually on behalf of its clients, and with total assets of $2.5 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Commercial Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000®. More information is available at www.cassinfo.com. Contact Michael Normile, EVP and CFO ir@cassinfo.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6728d529- bc18-4769-ba17-157f126557c2
John Drabik John Drabik, Director Cass Information Systems Cass Information Systems
FAQ
How did Cass Information Systems (CASS) perform in Q1 2026?
Cass reported net income of $8.8 million and diluted EPS of $0.67 for Q1 2026. Adjusted net income from continuing operations was $8.7 million and adjusted diluted EPS was $0.66, representing 23.7% and 26.9% growth versus the prior-year quarter.
What happened to Cass Information Systems’ net interest margin in Q1 2026?
Cass’s net interest margin improved to 3.95% in Q1 2026 from 3.75% a year earlier. The expansion was driven by higher average yields on loans and investment securities and a lower average cost of total deposits, alongside a 5.2% increase in average interest-earning assets.
How strong was asset quality for Cass Information Systems (CASS) in Q1 2026?
Asset quality remained strong, with no loan charge-offs in Q1 2026 and an allowance for credit losses to loans ratio of 1.27%. Non-performing loans totaled $3.1 million, down $3.9 million or 55.1% compared with December 31, 2025.
Did Cass Information Systems declare a dividend for Q2 2026?
Yes. The board declared a $0.32 per share second quarter dividend on April 21, 2026. The dividend is payable on June 15, 2026 to shareholders of record as of June 5, 2026, continuing Cass’s long history of regular cash dividends.
What board changes did Cass Information Systems (CASS) announce in April 2026?
Effective April 21, 2026, Cass elected John J. Drabik, Executive Vice President and CFO of Energizer Holdings, to its board and Audit and Risk Committee. Directors Sally H. Roth, James L. Lindemann, and Ralph W. Clermont retired after not standing for re-election.
How did Cass Information Systems’ transaction volumes and dollar volumes trend in Q1 2026?
Transportation invoice volumes fell to 8.1 million, down 3.1% year over year, but transportation dollar volumes rose 4.5% to $9.0 billion. Facility invoice volumes declined 4.4%, while facility dollar volumes increased 7.4% to $6.3 billion, reflecting higher freight and energy costs.