Cass Information Systems posts record Q1 net income of $8.3M; EPS $0.60, up 22.4%

CASS INFORMATION SYSTEMS INC

2022-Q1 EPS reported $0.60 revenue$42,103,000

Net income of $8.3M ($0.60 diluted EPS), up 16.8% and 22.4% YoY respectively.
Transportation dollar volumes hit record $10.9B, up 37.3% due to inflation, supply chain issues.
Financial fees rose 50.5% (+$3.5M) on higher payments in advance of funding (+57.6%).
Average loans ex-PPP up 24.6% ($189M); repurchased 124,874 shares for $5.1M.
Net interest margin expanded to 2.36% from 2.32%; company positioned for rising rates.

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