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Cass Information Systems, Inc. Reports Record 1st Quarter Earnings

Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services reported record first quarter 2010 earnings of $.50 per fully diluted share, a 19% increase compared to the $.42 per fully diluted share it earned in the first quarter of 2009. Net income for the period was $4.7 million, compared to $3.9 million in 2009.

2010 1st Quarter Recap

    March 31, 2010   March 31, 2009   % Change
Transportation Dollar Volume $3.8 billion $3.4 billion

11%

Utility Dollar Volume $2.6 billion $2.5 billion

5%

Revenues $22.8 million $21.7 million

5%

Net Income $4.7 million $3.9 million

21%

Diluted Earnings per Share $.50 $.42

19%

Payment and processing fees increased $801,000, or 7%, compared to the year earlier period. Transportation transaction volume was up 12% and transportation dollar volume rose 11% due to new business and improved activity from existing customers.

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