Cass Information Systems, Inc. (CASS) SEC Filings & Earnings Calls
EquiReason read 12 Cass Information Systems, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-22 — Q3 2026 net income +16.1% YoY, EPS +19.1% to $0.81; net interest margin expanded to 4.02% from 3.87%; dividend raised $0.02 to $0.34; transportation dollar volumes +14.5%; strong g.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 702.2M
- P/E TTM
- 19.7
- Dividend yield
- 2.3%
- 52-week
- —
- Next earnings
- 20 Jan, in 88 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
22 Oct 20268-K · 2.02, 8.01Q3 2026 net income +16.1% YoY, EPS +19.1% to $0.81; net interest margin expanded to 4.02% from 3.87%; dividend raised $0.02 to $0.34; transportation dollar volumes +14.5%; strong growth across all lines.earningsopen
Figures in the filing · each found in the filing text
| Net income · Q3-2026 | $11M | +16% y/y |
| Diluted EPS · Q3-2026 | $0.81 | +19% y/y |
| Net interest margin · Q3-2026 | 4.0% | |
| Net interest income · Q3-2026 | $2M | +9% y/y |
| Financial fees · Q3-2026 | $1M | +12% y/y |
| Total revenues · Q3-2026 | $3M | +5% y/y |
| Transportation dollar volumes · Transportation · Q3-2026 | 14.5% | |
| Average deposits · Q3-2026 | $79M | +8% y/y |
| Return on average equity · Q3-2026 | 17.5% | |
| Return on average assets · Q3-2026 | 1.6% |
Guidance
CEO expressed positive outlook for continued growth in assets, net interest income and financial fees in coming quarters, supported by client wins and higher volumes.
Risks flagged
Processing fees declined 4.6% due to lower invoice volumes, indicating potential structural shift in payment processing mix.
“Processing fees decreased $763,000, or 4.6%, due to lower transportation and facility invoice volumes.” · word for word
8 Oct 20268-K · 5.02CEO retirement transition: independent contractor agreement for consulting services, vesting of RSUs, non-compete covenants.open
Risks flagged
Key person risk from CEO departure, mitigated by consulting arrangement.
“Departure of CEO Dwight Erdbruegger; consulting agreement through Dec 31, 2026.”
5 Aug 202610-QCass Information Systems reported strong Q2 2026 results with net income from continuing operations up 104.9% YoY, driven by net interest margin expansion and higher financial fees.earningsopen
Figures in the filing · each found in the filing text
| Total Net Revenue · Q2-2026 | $50M | +12% y/y |
| Total Net Revenue · H1-2026 | $99M | +9% y/y |
| Net Income from Continuing Operations · Q2-2026 | $11M | +105% y/y |
| Net Income from Continuing Operations · H1-2026 | $19M | +41% y/y |
| Diluted EPS from Continuing Operations · Q2-2026 | $0.81 | +113% y/y |
| Diluted EPS from Continuing Operations · H1-2026 | $1.47 | +46% y/y |
| Net Interest Income · Q2-2026 | $22M | +11% y/y |
| Net Interest Income · H1-2026 | $43M | +10% y/y |
| Net Interest Margin (Tax-Equivalent) · Q2-2026 | 4.0% | |
| Net Interest Margin (Tax-Equivalent) · H1-2026 | 4.0% |
Risks flagged
Credit Loss Provision Spike
“Provision for credit losses 531 25 2024.0%” · word for word
Commercial Real Estate Loan Risk
“The provision for credit losses in the second quarter of 2026 was driven by a specific reserve on a nonperforming commercial real estate loan” · word for word
Processing Volume Decline
“Transportation invoice volume 8,670 8,837 (1.9)%” · word for word
Deposit Outflow
“Total deposits at June 30, 2026 were $1.12 billion, a decrease of $83.5 million, or 7.0%, from December 31, 2025.” · word for word
Loan Portfolio Contraction
“Average loans decreased $35.1 million, or 3.1%, to $1.09 billion.” · word for word
23 Jul 20268-K · 2.02, 8.01Cass Information Systems declares Q3 dividend of $0.32 per share; also reports record Q2 earnings with NIM expansion to 4.00% and transportation dollar volumes up 7.4%.open
Figures in the filing · each found in the filing text
| Net income from continuing operations · Q2-2026 | $11M | +105% y/y |
| Diluted earnings per share from continuing operations · Q2-2026 | $0.81 | +113% y/y |
| Net interest margin · Q2-2026 | 4.0% | |
| Transportation dollar volumes · Transportation · Q2-2026 | $10.10B | +7% y/y |
| Transportation invoice volumes · Transportation · Q2-2026 | 8,700,000 | -2% y/y |
| Average dollars per invoice (transportation) · Transportation · Q2-2026 | $1161.00 | +10% y/y |
| Facility expense dollar volumes · Facility · Q2-2026 | $5.70B | +3% y/y |
| Facility expense invoice volumes · Facility · Q2-2026 | 4,000,000 | -3% y/y |
| Return on average equity · Q2-2026 | 17.7% | |
| Return on average assets · Q2-2026 | 1.7% |
Risks flagged
Declining transportation invoice volumes (-1.9%) may indicate softening in underlying shipment activity.
“transportation invoice volumes of 8.7 million decreasing 1.9%” · word for word
Facility expense invoice volumes declining (-3.0%) could signal reduced client activity.
“Facility expense invoice volumes of 4.0 million decreased 3.0%” · word for word
5 May 202610-QProcessing fees $16M (-4% y/y); Financial fees $10M (+5% y/y); Net interest income $21M (+10% y/y); Guidance: Capex guided $4.0M-$6.0M for 2026open
Figures in the filing · each found in the filing text
| Processing fees · Q1-2026 | $16M | -5% y/y |
| Financial fees · Q1-2026 | $10M | +5% y/y |
| Net interest income · Q1-2026 | $21M | +10% y/y |
| Total net revenue · Q1-2026 | $49M | +6% y/y |
| Net income from continuing operations · Q1-2026 | $9M | +2% y/y |
| Diluted earnings per share from continuing operations · Q1-2026 | $0.66 | +5% y/y |
| Transportation invoice volume · Transportation · Q1-2026 | 8,098,000 | -3% y/y |
| Transportation invoice dollar volume · Transportation · Q1-2026 | $9.03B | +5% y/y |
| Facility-related transaction volume · Facility · Q1-2026 | 4,038,000 | -4% y/y |
| Facility-related dollar volume · Facility · Q1-2026 | $6.25B | +7% y/y |
Guidance
Capex guided $4.0M-$6.0M for 2026
Management expects sufficient liquidity to fund operations and capex of $4-6M in 2026.
Risks flagged
Transportation volume decline
“Transportation invoice volume 8,098 (3.1)%”
Operating expense growth outpacing revenue growth
“Operating expense increased 7.6% compared to the first quarter of 2025” · word for word
23 Apr 20268-K · 2.02, 5.02, 5.07, 8.01Dividend per share $0.32earningsopen
Figures in the filing · each found in the filing text
| Dividend per share · Q2-2026 | $0.32 |
30 Mar 20268-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Minimal risk; internal succession suggests continuity.
“Internal appointment of Eric T. Giering as President of Cass Commercial Bank.”
6 Mar 2026DEF 14ARevenue from continuing operations $191M (+5% y/y); Net income $35M (+83% y/y); Diluted earnings per share $2.61 (+88% y/y)open
Figures in the filing · each found in the filing text
| Revenue from continuing operations · FY2025 | $191M | +5% y/y |
| Net income · FY2025 | $35M | +83% y/y |
| Diluted earnings per share · FY2025 | $2.61 | +88% y/y |
| Return on average equity · FY2025 | 15.0% | |
| Return on average assets · FY2025 | 1.4% | |
| Common equity Tier 1 capital ratio · 2025-12-31 | 15.1% | |
| Non-performing loans to total loans · 2025-12-31 | 0.7% | |
| Dividends and share repurchases · FY2025 | $43M |
6 Mar 202610-KNet income from continuing operations $31M (+68% y/y); Total loans $1.06B (-2% y/y); Allowance for credit losses $14M (+2% y/y)open
Figures in the filing · each found in the filing text
| Net income from continuing operations · FY2025 | $31M | +68% y/y |
| Total loans · FY2025 | $1.06B | -2% y/y |
| Allowance for credit losses · FY2025 | $14M | +2% y/y |
| Total capital ratio · FY2025 | 15.9% | |
| Investment securities fair value · FY2025 | $771M | +46% y/y |
| Interest expense on deposits · FY2025 | $16M | -20% y/y |
| Weighted average interest rate on deposits · FY2025 | 1.7% | |
| Shares repurchased · FY2025 | 617,415 | |
| Diluted EPS from continuing operations · FY2025 | $2.31 | +71% y/y |
Risks flagged
Credit loss risk from loan portfolio
“The Company had three loans evaluated for expected credit losses on an individual basis as of December 31, 2025 and no loans evaluated for expected credit losses on an individual basis as of December 31, 2024.” · word for word
Interest rate risk from investment securities
“The unrealized losses at December 31, 2025 were primarily attributable to changes in market interest rates after the investment securities were purchased.” · word for word
Regulatory capital compliance risk
“As of December 31, 2025, the most recent notification from the regulatory agencies categorized the Company and the Bank as well-capitalized.” · word for word
22 Jan 20268-K · 2.02, 8.01Net income $35M (+83% y/y); Diluted earnings per share $2.61 (+88% y/y); Net interest margin 3.93; Guidance: Revenue tailwinds from new clients, interest-earning asset growth, and NIM expansion expected in 2026earningsopen
Figures in the filing · each found in the filing text
| Net income · FY2025 | $35M | +83% y/y |
| Diluted earnings per share · FY2025 | $2.61 | +88% y/y |
| Net interest margin · Q4-2025 | 3.9% | |
| Adjusted diluted earnings per share from continuing operations · Q4-2025 | $0.68 | +39% y/y |
| Facility dollar volumes · Facility · Q4-2025 | $5.70B | +13% y/y |
| Transportation dollar volumes · Transportation · Q4-2025 | $9.20B | +2% y/y |
| Return on average equity · FY2025 | 15.0% |
Guidance
Revenue tailwinds from new clients, interest-earning asset growth, and NIM expansion expected in 2026
Management expressed strong optimism for 2026 with multiple growth drivers.
Risks flagged
Transportation invoice volumes declined 6.1% YoY due to ongoing freight recession, tariffs, and weather.
“Transportation invoice volumes of 8.4 million decreased 6.1% as compared to the fourth quarter of 2024. Invoice volumes remain lower than prior periods primarily due to the ongoing freight recession, the impact of tariffs, and weather conditions.” · word for word
10 Nov 20258-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Share repurchase may reduce liquidity; no obligation to repurchase specific number of shares.
“Repurchase authorization does not obligate company to acquire any specific number of shares.”
4 Nov 202510-QCass Information Systems reported strong Q3 2025 earnings with net income +204% YoY driven by NIM expansion and lower bad debt expense.earningsopen
Figures in the filing · each found in the filing text
| Total net revenue · Q3-2025 | $50M | +8% y/y |
| Net income from continuing operations · Q3-2025 | $9M | +204% y/y |
| Diluted EPS from continuing operations · Q3-2025 | $0.69 | +214% y/y |
| Net interest margin · Q3-2025 | 3.9% | |
| Processing fees · Q3-2025 | $17M | -0% y/y |
| Financial fees · Q3-2025 | $10M | -6% y/y |
Risks flagged
Freight volume decline
“Transportation invoice volume 8,884 vs 9,160 (-3.0%)”
Deposit attrition
“The Company has experienced deposit attrition due to a decrease in the overall level of some larger commercial deposits due to client funding needs for acquisitions and other purposes.” · word for word
Nonperforming loans increase
“There were $7.1 million of nonperforming loans outstanding at September 30, 2025 and $0 at December 31, 2024.” · word for word
Cass Information Systems, Inc. — questions
- What did Cass Information Systems, Inc. file recently?
- 12 SEC filings in the last 12 months. Latest: 8-K on 2026-10-22 — Q3 2026 net income +16.1% YoY, EPS +19.1% to $0.81; net interest margin expanded to 4.02% from 3.87%; dividend raised $0.02 to $0.34; transportation dollar volumes +14.5%; strong growth across all lines.
Every figure on this page comes from Cass Information Systems, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.