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.
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