Cass Information Systems Q2 Profit Doubles

(RTTNews) - Cass Information Systems, Inc. (CASS), a financial holding company, on Thursday announced that net income increased in the second quarter compared to the previous year.

For the second quarter, net income surged to $8.86 million from $4.49 million in the prior year. Earnings per share were $0.66 versus $0.32 last year.

Net interest income jumped to $19.48 million from $15.93 million in the previous year.

Interest income increased to $23.64 million from $21.24 million in the prior year.

Net loans were $1.102 billion, up from $1.07 billion in the prior year.

Deposits increased to 1.003 billion from $967.92 million last year.

Revenue were down at $44.39 million, compared to $43.98 million last year.

On Wednesday, Cass Information Systems closed trading 1% higher at 44.61 on the Nasdaq.