This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cass Information Systems, Inc. Reports Record 3rd Quarter 2011 Earnings With 8.5% Increase Over Q3 2010

Net investment income increased $.6 million, or 6%, primarily due to an increase in average earning assets.

Operating expenses were up 11%, or $1.8 million, as Cass increased staff to support the growth in business volume.

Nine-Month 2011 Recap

For the nine-month period ended September 30, 2011, the company earned $1.85 per diluted share, a 15% increase over the $1.61 per diluted share earned in the comparable period of 2010. Net income grew to $17.5 million, 15% higher than the $15.2 million earned in 2010. Revenues rose more than 12%, from $71.2 million in 2010 to $80.0 million in 2011.

Operating expenses were up 11%, or $5.5 million, as Cass increased personnel to support volume growth.

“As our record results attest, Cass Information Systems continues its steady growth despite the faltering national economic recovery,” said Eric H. Brunngraber , Cass president and chief executive officer. “We believe the company’s performance provides a solid base for continued growth in 2012 and beyond.”

10% Stock Dividend Declared With Increase in Cash Dividend

On October 17, 2011, the company’s board of directors declared a 10% stock dividend payable December 15, 2011 to shareholders of record December 5, 2011.

Shareholders will receive one additional share of Cass stock for each 10 shares owned. No fractional shares will be issued. Shareholders will receive cash for any fractional shares owned based on the share price reported by NASDAQ at the close of trading December 5, 2011.

In addition, the company’s board declared a fourth quarter cash dividend of $.17 per share payable December 15, 2011 to shareholders of record December 5, 2011. That is a one cent increase from the previous dividend per share. The upcoming cash payout will apply to all shares held after the 10% stock dividend is completed, effectively increasing the fourth quarter dividend by nearly 17%. “These actions by the board reflect the company’s solid capital base, its strong performance and the board’s optimism about our future,” said Brunngraber. Cass has continuously paid regularly scheduled cash dividends since 1934.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs