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Jun 30, 2020
Cass Q2 2020 Earnings Report
Cass Information Systems reported a decrease in earnings due to the impact of COVID-19 and lower interest rates.
Key Takeaways
Cass Information Systems reported a decrease in second quarter earnings, with revenue down 14% and net income down 29%. The declines were attributed to the impact of COVID-19 on the company's customers and lower interest rates.
Second quarter revenue decreased 14% with net income down 29%.
Transportation invoice and dollar volumes declined 21% and 20%, respectively.
Facility-related invoice and dollar volume declined 3% and 18%, respectively.
Company processed nearly 350 applications for Paycheck Protection Program loans of approximately $170 million.
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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