Cass Q3 net income falls 16% to $7.4M; dividend raised, $0.30/share; new buyback authorization

CASS INFORMATION SYSTEMS INC

2023-Q3 EPS reported $1.56 revenue$146,775,000

Net income $7.4M ($0.54 diluted EPS), down 16% YoY from $0.64; total revenues up 4.3%.
Net interest margin expanded to 3.24% from 2.90%; no non-performing loans or charge-offs.
Transportation dollar volumes down 19.8% on lower freight rates; facility volumes down 7.1%.
Quarterly dividend increased to $0.30/share (payable Dec 15, record Dec 5); board authorized repurchase of up to 500,000 shares.
New large facility clients expected to boost volumes 30-40% over Q3 levels, fully onboarded by Q1 2024.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CASS INFORMATION SYSTEMS INC reported third quarter of fiscal 2023 results: net income $7.4 million, EPS $0.54 per diluted common share.

Period: third quarter of fiscal 2023
Net income: $7.4 million
EPS: $0.54 per diluted common share
Result: reported results

Exact text from the filing

Cass Information Systems Reports Third Quarter 2023 Results

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Source: SEC EDGAR

accession 0000708781-23-000037

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