(RTTNews) - Cass Information Systems (CASS) reported third quarter net income of $2.9 million compared to $7.4 million in the third quarter of 2023. Earnings was $0.21 per share compared to $0.54. The company noted that its net income and earnings per share were negatively impacted by $6.6 million of bad debt expense taken on a funding receivable related to a facility client.
Total fee revenue was $31.23 million compared to $31.54 million, last year. Total revenues increased to $50.55 million from $49.22 million.
The Board of Directors approved an increase in the quarterly dividend from $0.30 to $0.31 per share.
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