Cass Information Systems, Inc. Reports 1st Quarter Earnings

ST. LOUIS--(Business Wire)--
Cass Information Systems, Inc. (NASDAQ: CASS),the nation's leading provider of
transportation, utility and telecom invoice payment and information services
reported first quarter 2009 earnings of $.42 per fully diluted share, a 2%
decrease compared to $.43 per fully diluted share it earned in the first quarter
of 2008. Net income for the period was $3.9 million, compared to $4.0 million in
2008.

2009 1st Quarter Recap

3/31/09 3/31/08 %

Change
Transportation Dollar Volume $3.4 billion $3.9 billion (12)%
Utility Dollar Volume $2.5 billion $2.2 billion 12%
Revenues $21.7 million $21.9 million (1)%
Net Income $3.9 million $4.0 million (2)%
Diluted Earnings per Share $.42 $.43 (2)%

New transportation customer implementations helped off-set a 21% decline in base
customer volumes as the global economic slowdown impacted the transportation
industry. As a result, freight invoice volume was down 10% and dollar volume was
down 12%. Utility transaction volume and dollar volume were up 12% primarily due
to new business, partially offsetting the lower volumes in the freight business.
The net effect was overall payment and processing fees decreased less than 1%
compared to the year-earlier period.

Net investment income decreased $211,000 or 2% primarily due to the overall
decline in interest rates.

Overall operating expenses were down 0.4%, or $70,000, as the company
implemented cost control measures in this difficult economic environment,
despite a $313,000 increase in pension expense.

"Given the current economic environment, we are pleased with the company`s
overall performance during the first quarter," said Eric H. Brunngraber, Cass
president and chief executive officer. "Our utility invoice processing operation
and our bank subsidiary, Cass Commercial Bank, turned in solid performances and
helped overcome most of the challenges presented by the world-wide economic
contraction. We are optimistic that Cass will return to its recent growth
trajectory as the global economy recovers."

The company has no exposure to sub-prime mortgage loans, mortgage-backed
securities or residential development loans of any kind. Hence, the issues that
are causing significant detrimental effects on the financial community are not
affecting Cass in such a manner.

About Cass Information Systems

Cass Information Systems, Inc. is the leading provider of transportation,
utility and telecom invoice payment and information services. The company, which
has been involved in the payables services and information support business
since 1956, disburses over $26 billion annually on behalf of customers from
processing centers in St. Louis, Mo., Columbus, Ohio, Boston, Mass., Greenville,
S.C. and Wellington, Kansas. The support of Cass Commercial Bank, founded in
1906, makes Cass Information Systems unique in the industry. Cass is part of the
Russell 2000 Index.

Note to Investors

Certain matters set forth in this news release may contain forward-looking
statements that are provided to assist in the understanding of anticipated
future financial performance.However, such performance involves risks and
uncertainties that may cause actual results to differ materially from those in
such statements.For a discussion of certain factors that may cause such
forward-looking statements to differ materially from the company`s actual
results, see the company`s reports filed from time to time with the Securities
and Exchange Commission including the company`s annual report on Form 10-K for
the year ended December 31, 2008.

Selected Consolidated Financial Data

The following table presents selected unaudited consolidated financial data (in
thousands, except per share data) for the periods ended March 31, 2009 and
2008:

Quarter Quarter
Ended Ended

3/31/09
3/31/08
Transportation Invoice Volume 5,395 5,972
Transportation Dollar Volume $ 3,386,740 $ 3,857,573
Utility Transaction Volume 2,830 2,532
Utility Dollar Volume $ 2,495,697 $ 2,235,890

Payment and Processing Fees $ 11,944 $ 12,047
Net Investment Income 9,102 9,313
Gains on Sales of Securities 119 -
Other 539 564
Total Revenues $ 21,704 $ 21,924
Salaries and Benefits $ 12,449 $ 12,437
Occupancy 615 540
Equipment 841 824
Other 2,385 2,559
Total Operating Expenses $ 16,290 $ 16,360
Income from Operations before Income Taxes $ 5,414 $ 5,564
Income Tax Expense 1,491 1,545
Net Income $ 3,923 $ 4,019
Basic Earnings per Share $ .43 $ .44
Diluted Earnings per Share $ .42 $ .43

Average Earning Assets $ 803,943 $ 800,191
Net Interest Margin 5.31 % 5.37 %
Allowance for Loan Losses to Loans 1.10 % 1.15 %
Non-performing Loans to Total Loans .15 % .45 %
Net Loan Charge-offs to Loans .04 % .09 %
Provision for Loan Losses $ 400 $ 450

Casey Communications, Inc.
Kenn Entringer, 314-721-2828
kentringer@caseycomm.com
http://www.cassinfo.com

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