Cass Information Systems Inc (CASS, Financial) filed Quarterly Report for the period ended 2009-03-31.
Cass is a leading provider of payables services and information support systems to companies throughout North America. Cass Information Systems Inc has a market cap of $283.7 million; its shares were traded at around $30.78 with a P/E ratio of 15.3 and P/S ratio of 3.1. The dividend yield of Cass Information Systems Inc stocks is 1.7%. Cass Information Systems Inc had an annual average earning growth of 23% over the past 5 years.
March 31, 2009 December 31, 2008
=
Gross Carrying Accumulated Gross Carrying Accumulated
(In thousands) Amount Amortization Amount Amortization
=
Assets eligible for amortization:
Software $ 862 $ (790) $ 862 $ (747)
Customer List 750 (295) 750 (268)
-
Total 1,612 (1,085) 1,612 (1,015)
-
Unamortized intangible assets:
Goodwill 7,698 (227)* 7,698 (227)*
-
Total unamortized intangibles 7,698 (227) 7,698 (227)
-
Total intangible assets $ 9,310 $ (1,312) $ 9,310 $ (1,242)
-
*Amortization through December 31, 2001 prior to adoption of SFAS No. 142.
Corporate,
Information Banking Eliminations
(In thousands) Services Services and Other Total
=
Quarter Ended March 31, 2009
Total Revenues:
Revenue from customers $ 17,383 $ 4,321 $ - $ 21,704
Intersegment revenue 1,615 357 (1,972) -
Net income 2,834 1,089 - 3,923
Total assets 556,709 419,592 (89,031) 887,270
Goodwill 7,335 136 - 7,471
Other intangible assets, net 527 - - 527
Amount of Commitment Expiration per Period
=
Less than 1-3 3-5 Over 5
(In thousands) Total 1 Year Years Years Years
=
Operating lease commitments $ 3,607 $ 862 $ 1,280 $ 742 $ 723
Time deposits 109,328 100,546 7,534 1,248 -
Convertible subordinated debentures* 2,991 - - - 2,991
-
Total $ 115,926 $ 101,408 $ 8,814 $ 1,990 $ 3,714
=
* Includes principal payments only.
Weighted- Average Aggregate
Average Remaining Intrinsic
Exercise Contractual Value
Shares Price Term Years (In thousands)
=
Outstanding at January 1, 2009 69,536 $ 15.24
Granted - -
Exercised (12,300) 19.75
Forfeited or expired - -
- -
Outstanding at March 31, 2009 57,236 15.79 2.5 $ 952,000
=
Exercisable at March 31, 2009 29,649 $ 13.39 1.9 $ 564,000
=
Weighted- Average Aggregate
Average Remaining Intrinsic
Exercise Contractual Value
Shares Price Term Years (In thousands)
=
Outstanding at January 1, 2009 109,755 $ 28.41
Granted 121,943 25.77
Exercised - -
Forfeited or expired - -
- -
Outstanding at March 31, 2009 231,698 27.02 9.3 $ 1,253,000
=
Exercisable at March 31, 2009 36,579 $ 28.41 8.8 $ 147,000
=
Estimated Actual
(In thousands) 2009 2008
=
Service cost - benefits earned during the year $ 1,578 $ 1,523
Interest cost on projected benefit obligation 2,099 1,947
Expected return on plan assets (1,882) (2,108)
Net amortization 888 66
-
Net periodic pension cost $ 2,683 $ 1,428
-
Read the The complete Report
Cass is a leading provider of payables services and information support systems to companies throughout North America. Cass Information Systems Inc has a market cap of $283.7 million; its shares were traded at around $30.78 with a P/E ratio of 15.3 and P/S ratio of 3.1. The dividend yield of Cass Information Systems Inc stocks is 1.7%. Cass Information Systems Inc had an annual average earning growth of 23% over the past 5 years.
Highlight of Business Operations:
March 31, 2009 December 31, 2008
=
Gross Carrying Accumulated Gross Carrying Accumulated
(In thousands) Amount Amortization Amount Amortization
=
Assets eligible for amortization:
Software $ 862 $ (790) $ 862 $ (747)
Customer List 750 (295) 750 (268)
-
Total 1,612 (1,085) 1,612 (1,015)
-
Unamortized intangible assets:
Goodwill 7,698 (227)* 7,698 (227)*
-
Total unamortized intangibles 7,698 (227) 7,698 (227)
-
Total intangible assets $ 9,310 $ (1,312) $ 9,310 $ (1,242)
-
*Amortization through December 31, 2001 prior to adoption of SFAS No. 142.
Corporate,
Information Banking Eliminations
(In thousands) Services Services and Other Total
=
Quarter Ended March 31, 2009
Total Revenues:
Revenue from customers $ 17,383 $ 4,321 $ - $ 21,704
Intersegment revenue 1,615 357 (1,972) -
Net income 2,834 1,089 - 3,923
Total assets 556,709 419,592 (89,031) 887,270
Goodwill 7,335 136 - 7,471
Other intangible assets, net 527 - - 527
Amount of Commitment Expiration per Period
=
Less than 1-3 3-5 Over 5
(In thousands) Total 1 Year Years Years Years
=
Operating lease commitments $ 3,607 $ 862 $ 1,280 $ 742 $ 723
Time deposits 109,328 100,546 7,534 1,248 -
Convertible subordinated debentures* 2,991 - - - 2,991
-
Total $ 115,926 $ 101,408 $ 8,814 $ 1,990 $ 3,714
=
* Includes principal payments only.
Weighted- Average Aggregate
Average Remaining Intrinsic
Exercise Contractual Value
Shares Price Term Years (In thousands)
=
Outstanding at January 1, 2009 69,536 $ 15.24
Granted - -
Exercised (12,300) 19.75
Forfeited or expired - -
- -
Outstanding at March 31, 2009 57,236 15.79 2.5 $ 952,000
=
Exercisable at March 31, 2009 29,649 $ 13.39 1.9 $ 564,000
=
Weighted- Average Aggregate
Average Remaining Intrinsic
Exercise Contractual Value
Shares Price Term Years (In thousands)
=
Outstanding at January 1, 2009 109,755 $ 28.41
Granted 121,943 25.77
Exercised - -
Forfeited or expired - -
- -
Outstanding at March 31, 2009 231,698 27.02 9.3 $ 1,253,000
=
Exercisable at March 31, 2009 36,579 $ 28.41 8.8 $ 147,000
=
Estimated Actual
(In thousands) 2009 2008
=
Service cost - benefits earned during the year $ 1,578 $ 1,523
Interest cost on projected benefit obligation 2,099 1,947
Expected return on plan assets (1,882) (2,108)
Net amortization 888 66
-
Net periodic pension cost $ 2,683 $ 1,428
-
Read the The complete Report
