Cass Commercial Bank Ranks 12th in its Class
ST. LOUIS--(BUSINESS WIRE)—July 10, 2009 -- Cass Information Systems, Inc. (NASDAQ: CASS), a bank holding company, has been ranked the 12th best performing bank in its class, according to US Banker. The rankings are based on average return on equity for the last three years.
US Banker’s annual list of Top 200 Community Banks and Thrifts includes banks and thrifts with less than $2 billion in assets that are publicly traded.
Cass Information System’s three-year average return on equity is 19.01%. Cass Information Systems operates Cass Commercial Bank as a subsidiary. The bank subsidiary provides sophisticated financial exchange services to the parent organization, a business process outsourcer that disburses $27 billion annually on behalf of its payment services clients, such as Caterpillar Inc., Ford Motor Company, Emerson, Whirlpool Corporation and many others.
The real estate collapse has sent many previously top-ranked banks tumbling from the top. Cass attributes its strong performance to its business model and to Cass Commercial Bank’s lending practices, which have excluded consumer finance and the residential mortgage sector. “Our strong performance right now is a testament to our traditional lending practices as well as the thriving business model of our parent organization,” commented Bob Mathias, president of Cass Commercial Bank.
About Cass Commercial Bank
Founded in 1906 as Cass Avenue Bank, Cass Commercial Bank has five locations in the St. Louis metropolitan area and one in Southern California. Cass serves privately held businesses in St. Louis and churches and ministries nationwide.
About Cass Information Systems, Inc.
Cass Information Systems, Inc. (NASDAQ: CASS) is the leading provider of transportation, utility and telecom expense management and related business intelligence services, disbursing $27 billion annually on behalf of its clients. With total assets approaching $1 billion, Cass is a thriving business process outsourcer focused on invoice processing, auditing and payment services. Cass is uniquely supported by Cass Commercial Bank, founded in 1906. Today, Cass Commercial Bank is a wholly owned subsidiary. More information is available at http://www.cassinfo.com.
