---
schema_version: "secwatch.filing_event.v1"
accession: "0000708781-24-000072"
form_type: "8-K"
ticker: "CASS"
cik: "0000708781"
company_name: "CASS INFORMATION SYSTEMS INC"
filed_at: "2024-07-18T23:59:59+00:00"
generated_at: "2026-05-31T19:57:26.604426+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cass Q2 EPS $0.32 vs $0.52 YoY; net income $4.5M; client cyber event, $3.4M one-time expenses

## Summary
- Net income $4.5M ($0.32 EPS) vs $7.1M ($0.52) in Q2 2023; revenue impacted by drop in transportation volumes and loss of $100M client funding.
- Facility transaction volumes grew 25.1% YoY; transportation dollar volumes fell 6.5% due to freight recession.
- One-time expenses of $3.4M: $2.1M reserves on receivables and $1.3M late fees from check processing delay tied to client cyber event; permanent loss of ~$100M non-interest bearing funding.
- Board declared Q3 dividend $0.30/share, payable Sept 13, 2024 to holders of record Sept 3, 2024.
- Pension plan termination approved; expects ~$5.0M one-time expense in Q4 2024/Q1 2025, annual savings ~$1.0M.

## SEC filing metadata
- accession: 0000708781-24-000072
- form_type: 8-K
- ticker: CASS
- cik: 0000708781
- company_name: CASS INFORMATION SYSTEMS INC
- filed_at: 2024-07-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/708781/000070878124000072/0000708781-24-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/708781/000070878124000072/cass-20240718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000708781-24-000072
- JSON: https://secwatch.observer/filing/0000708781-24-000072.json
- Plain text: https://secwatch.observer/filing/0000708781-24-000072.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.