ADDED
As of February 27, 2026, the Registrant had 12,901,080 shares outstanding of common stock.
Cass also processes and pays facility-related invoices, which include electricity and gas as well as waste and telecommunications expenses.
On April 7, 2025, the Company signed an Asset Purchase Agreement providing for the sale of its telecom expense management and managed mobility solutions business unit ("TEM Business Unit") to Asignet USA Inc ("Asignet") for a purchase price of $18.0 million.
The Company also signed a Transition Services Agreement with Asignet to provide certain information technology, data ingestion, and payment processing services for a period of time not to exceed 18 months after closing.
Through its numerous methods of obtaining streams and pieces of raw data, including those supported by artificial intelligence ("AI"), Cass is able to assemble vital data into centralized data management systems and warehouses, thus producing an engine to create the power of information for managing critical corporate functions and processing systems.
Marketing, Customers and Competition The Company, through its Transportation Information Services business unit, is one of the largest firms in the transportation bill processing and payment industry in the United States based on the total dollars of transportation bills paid and items processed.
Employees and Human Capital Resources The Company and its subsidiaries had 860 full-time and 156 part-time employees as of February 27, 2026, exclusive of discontinued operations.
Of these employees, the Bank had 68 full-time and no part-time employees.
Source of Strength Doctrine FRB and other regulations require bank holding companies to act as a source of financial and managerial strength to their subsidiary banks.
The FDIC established a plan on September 15, 2020 to restore the DIF reserve ratio to meet or exceed the statutory minimum of 1.35% within eight years.
REMOVED
As of February 21, 2025, the Registrant had 13,503,248 shares outstanding of common stock.
Cass also processes and pays facility-related invoices, which include electricity and gas as well as waste and telecommunications expenses, and is a provider of telecom expense management solutions.
Through its numerous methods of obtaining streams and pieces of raw data, Cass is able to assemble vital data into centralized data management systems and warehouses, thus producing an engine to create the power of information for managing critical corporate functions and processing systems.
Cass core competencies allow it to perform the highest volumes of transaction processing in an integrated, efficient and systematic approach.
The Company, through its Telecom Information Services business unit, is a leader in the growing telecom expense management market and competes with other companies located throughout the United States in this market.
The Company, through its Waste Expense Management business, is one of the largest providers of waste invoice management solutions and competes against small expense management companies along with large national account programs of major haulers.
Employees and Human Capital Resources The Company and its subsidiaries had 1,027 full-time and 221 part-time employees as of February 21, 2025.
Of these employees, the Bank had 64 full-time and no part-time employees.
The Company recognizes the benefits of building a corporate culture that promotes diversity and fosters unique ideas and ways of thinking.
Among other things, Cass focuses on cultivating an environment that encourages collaboration, flexibility and fairness to enable all employees to contribute to their full potential.