Cass Information Systems reports Q2 EPS 66c vs. 32c last year

Reports Q2 revenue $44.4M vs. $46.41M last year. In announcing these results, Martin Resch, the company’s president and CEO, noted, “We continue to see year over year improvement in our quarterly results. The growth in interest-earning assets, combined with the continued improvement in net interest margin, is driving significant net interest income gains. This revenue improvement, combined with ongoing efficiency initiatives, led to the profitability growth reported.” Resch added, “The upward momentum in freight rates, the addition of enhanced freight product offerings and onboarding of new clients should provide support to fees. In addition, the successful closing of our TEM business sale will enable us to concentrate on our strengths in financial exchange and information processing and provide capital for other purposes.”