About Cass Information Systems

Cass Information Systems is the leading provider of transportation, utility, telecom and environmental invoice payment and information services. The company, which has been involved in the payables services and information support business since 1956, disburses $32 billion annually on behalf of customers from locations in St. Louis, Mo., Columbus, Ohio, Boston, Mass., Greenville, S.C., Wellington, Kansas and Jacksonville, Fla. The support of Cass Commercial Bank, founded in 1906, makes Cass Information Systems unique in the industry. Cass is part of the Russell 2000® Index .

Note to Investors

Certain matters set forth in this news release may contain forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. For a discussion of certain factors that may cause such forward-looking statements to differ materially from the company’s actual results, see the company’s reports filed from time to time with the Securities and Exchange Commission including the company’s annual report on Form 10-K for the year ended December 31, 2010.

       
 

Selected Consolidated Financial Data
 

 The following table presents selected unaudited consolidated financial data (in thousands, except per share data) for the periods ended December 31, 2011 and 2010.
 

Quarter Ended 12/31/11

Quarter Ended 12/31/10

Year Ended 12/31/11

Year Ended 12/31/10

 

 

 

 

 

Transportation Invoice Volume
7,197 6,668 29,025 26,287
Transportation Dollar Volume $ 5,326,457 $ 4,468,924 $ 20,599,503 $ 16,966,003
Utility Transaction Volume 3,333 3,086 13,441 12,247
Utility Dollar Volume $ 2,517,495 $ 2,521,812 $ 10,702,242 $ 10,460,333
 
Payment and Processing Fees $ 15,316 $ 14,010 $ 60,688 $ 54,183
Net Investment Income 10,759 10,447 43,711 40,071
Gain (Loss) on Sale of Securities

(5

)

43

Other 451     542     2,093     1,963  
Total Revenues $ 26,521   $ 24,999   $ 106,535   $ 96,217  
Salaries and Benefits $ 14,296 $ 13,169 $ 56,573 $ 51,368
Occupancy 532 644 2,318 2,485
Equipment 944 860 3,525 3,561
Other 3,575     3,466     12,613     10,870  
Total Operating Expenses $ 19,347   $ 18,139   $ 75,029   $ 68,284  
Income from Operations before Income Taxes

$

7,174

$

6,860

$

31,506

$

27,933
Income Tax Expense 1,683     1,779     8,497     7,623  
Net Income $ 5,491   $ 5,081   $ 23,009   $ 20,310  
Basic Earnings per Share $ .53   $ .50   $ 2.23   $ 1.98  
Diluted Earnings per Share $ .53   $ .48   $ 2.21   $ 1.95  
 
Average Earning Assets $ 1,236,331 $ 1,135,125 $ 1,188,283 $ 1,060,559
Net Interest Margin 3.99 % 4.47 % 4.31 % 4.61 %
Allowance for Loan Losses to Loans 1.93 % 1.68 % 1.93 % 1.68 %
Non-performing Loans to Total Loans .26 % .08 % .26 % .08 %
Net Loan Charge-offs to Loans .05 %

.16

%
.07 %
Provision for Loan Losses $ 300 $ 1,100 $ 2,150 $ 4,100
 

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