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Cass Cass Information Systems , Inc. Cass Information Systems , Inc. Reports 30 % Increase in Second Quarter Diluted EPS 07/22/21 ST . LOUIS -- ( BUSINESS WIRE ) -- Jul . 22 , 2021-- Cass Information Systems , Inc. ( Nasdaq : CASS ) , the leading provider of transportation , energy , telecom and waste invoice payment and information services , reported second quarter 2021 earnings of $ .48 per diluted share , an increase of 30 % from the $ .37 per diluted share it earned in the second quarter of 2020. Net income for the period was $ 7.0 million , an increase of 29 % from the $ 5.4 million earned in the same period in 2020 . 2nd Quarter YTD 2021 2020 % Change 2021 2020 % Change Transportation Invoice Volume 9.5 million 7.3 million 29.7 18.2 million 15.6 million 17.2 Transportation Dollar Volume $ 8.9 billion $ 5.7 billion 56.9 $ 16.8 billion $ 12.2 billion 38.5 Facility - related Transaction Volume * 6.8 million 6.7 million 1.8 13.8 million 13.2 million 4.6 Facility - related Dollar Volume * $ 3.7 billion $ 3.1 billion 19.4 $ 7.4 billion $ 6.5 billion 13.1 Revenues Net Income Diluted Earnings per Share * Includes Energy , Telecom and Waste 2021 2nd Quarter Recap $ 38.4 million $ 33.9 million 13.2 $ 75.5 million $ 72.1 million 4.8 $ 7.0 million $ 5.4 million 29.2 $ 14.1 million $ 13.0 million 8.6 $ .48 $ .37 29.7 $ .97 $ .89 9.0 Second quarter revenue and net income increased 13 % and 29 % , respectively , compared to the second quarter of 2020 when the negative economic impact of the pandemic was most pronounced on Cass and its customers . Transportation volumes for invoices and dollars rose 30 % and 57 % , respectively . The increases were driven by the stronger performance of the manufacturing sector plus new customer wins . A factor contributing to the dramatic increase in dollar volume was scarcity in carrier supply , which drove prices higher . Facility - related ( electricity , gas , waste and telecom expense management ) invoice and dollar volume grew 2 % and 19 % , respectively , with the increases attributable in part to new business wins in the telecom division . Dollar volumes also improved due to significantly fewer pandemic - related restrictions in the restaurant , retail and hospitality sectors , creating higher utility usage . Revenues increased 13 % due to the aforementioned increase in invoice and dollar volumes and a positive change in the provision for credit losses of $ 1.0 million reflecting excellent credit quality and improved economic conditions , partially offset by the negative impact of the prevailing market interest rate environment which has led to the decline in our net interest margin from 2.88 % to 2.30 % . Consolidated operating expenses were $ 2.4 million ( 9 % ) higher as personnel expense increased due to the increases in transportation and facility- related transaction volumes . " While we continue to contend with historically low interest rates which suppress our ability to earn interest income on record dollar volumes in transportation , it is exciting to see transaction and dollar volumes rise throughout our business , " noted Eric H. Brunngraber , Cass chairman and chief executive officer . " While the volume increases are somewhat tied to a recovering economy , they also reflect our ability to generate new customer wins and expand our revenue base through strategic investments in payment platforms . " 2021 First Half Recap For the six - month period ended June 30 , 2021 , Cass earned $ .97 per diluted share , an increase of 9 % from the $ .89 per diluted share it earned in the same period in 2020. Net income also increased 9 % to $ 14.1 million , compared to $ 13.0 million in 2020. Revenues rose to $ 75.5 million , 5 % higher than the $ 72.1 million produced in 2020 .