Cass Information Systems (NASDAQ:CASS) capped off a historic 2025 with record annual net income, as the St. Louis-based payment processor successfully leveraged higher interest rates to offset a persistent slump in the transportation sector.
The company reported fourth-quarter net income of $8.2 million, or $0.62 per diluted share.
On an adjusted basis, which accounts for one-time items, earnings reached $0.68 per share—a nearly 39% increase compared to the prior-year period.
Total revenue for the quarter stood at $49.9 million.
For the full year, Cass delivered a record $35.1 million in profit, or $2.61 per share, on total revenue of $190.8 million.
The year was defined by a 19.8% surge in net interest income, which reached $13.5 million as the company’s banking segment benefited from an improved net interest margin of 3.93% in the final quarter.
The company's dual-model—combining complex payment processing with a commercial bank—showed its resilience in 2025.
While transportation invoice volumes remained under pressure from a broader freight recession and the impact of trade tariffs, facility-related dollar volumes jumped 14.7% for the year as Cass onboarded new enterprise clients.