O V E R T H E PA S T 1 0 0 Y E A R S ,
Cass has grown from a small neighborhood bank
serving the needs of area residents into
a leading provider of payment and
management information solutions
for major corporations nationwide.
1906 - 1940
1906: The founders of Cass Avenue Bank were a group of businessmen representing a
wide variety of enterprises – pie making and baking, electrical contracting,
furniture manufacturing, cigar making, hauling, real estate,
feed and milling, house furnishings and even a mortuary.
1906: Cass Avenue Bank opens for business and issues its first commercial loan –
a $16,000 real estate loan for two buildings and a stable.
On the first day bank deposits totaled $51,000 by the close of business.
1915: Building on its success, Cass is ready to expand after nine years in business and
moves into its own newly constructed building.
1920: Cass Avenue Bank joins the
newly created Federal Reserve System,
which was only six years old at the time.
1925: “‘Safety for Savings’ is the Bank’s motto and during 20 years of business
it has steadily grown in prestige as well as financial strength.”
– Who’s Who in North St. Louis, 1925
1927: Cass moves into a newly constructed building at 13th and Cass where it
continues operations until 1974. Later, the company donates the building
to the city, and it now serves as the bus terminal.
1929: Reflecting its increasing stability and growth, the bank is transformed into
a trust company – Cass Bank & Trust Company.
1929-1941: Even through the Great Depression, Cass remains
one of the stronger banks in St. Louis.
1930s: Recognizing the strong Irish heritage in the surrounding neighborhood, the Bank
begins holding annual St. Patrick's Day parties (Kerry Patch parties) for business clients and
prospective customers.
Catered by the Missouri Athletic Club's kitchen these parties are large and popular affairs.
The Kerry Patch parties continued to the mid 1950’s.
1941: Attuned to changing consumer needs, Cass is one of the first
St. Louis area banks to offer free parking for its customers.
1 9 5 0 - 1 9 7 0’s
1950s: As the surrounding neighborhood changed from residential to commercial in the
1950s, Cass began to shift its focus in order to better meet the needs of privately held
companies in metropolitan St. Louis.
1956: A telegram cake celebrating Cass’ 50th anniversary was presented to Cass
Chairman Harry Hartkopf. The cake reads: “Our best wishes to everyone at the bank
in celebration of 50 golden years, 1906 – 1956.”
1956: Nearly surrounded by truck terminals, service garages and transfer points, Cass
responds by developing a service to simplify the payment of freight bills in under what was
then called the “Freight Payment Plan.”
1957: Cass begins offering
its freight payment services
to non-bank customers. This
fundamental change sparks growth in
this service area,
laying the foundation for the
formation and success of
Cass Information Services.
1957: To make banking more convenient, Cass offers walk-up and
drive-up windows for customers, one of the first in the area.
1967: Cass is among the first banks in the country to begin using electronic computers to
process payroll checks – and in 1967 processes its 1 millionth check for an employee of
Central Hardware through its “Automated Payroll Plan,” serving more than 350 companies.
1967: Cass begins marketing its
freight payment services as
FreightPay® to major corporations
across the United States.
1973: To enhance its image as a commercial rather than neighborhood bank,
Cass opens a new headquarter location in downtown St. Louis –
and keeps the 13th and Cass location as a branch facility.
1973: With its move downtown, Cass continues to focus on meeting
the banking needs of business customers using the slogan:
“Regardless of your needs, come to Cass ... when you want to talk business.”
Growth continues to total assets of $100,204,125 in 1978, an increase of 52% since 1973.
1978: Under the leadership of Harry Krieg, Cass installs a new computer-based system for
freight payment services – providing a complete integrated processing system tailored to the
specialized needs of the shipper community. The response was excellent and during the
following 12 months, the bank experienced the largest influx of new business in its history.
1979: Cass Transportation
Services becomes the first in the
industry to offer online duplicate
payment protection.
1980 - 1999
1982: Cass Transportation Services achieves its first $1+ billion per year freight payments
processed. Cass is recognized as one of the leaders in the industry.
1983: Cass Commercial Corporation is
incorporated as a holding company for
Cass Bank and its Freight Payment Services,
now known as Cass Information Systems –
this enables Cass to focus on the strengths of
both companies, while reinforcing its
position to remain an independent
organization.
1987: Cass strengthens its business and adds operations in Columbus, Ohio
and Chicago, Illinois with the acquisition of Comtrac –
a major freight payment and information services competitor from First Chicago Bank.
1987: With the acquisition of Comtrac’s Ratemaker® rating software, Cass begins
providing its premier Ratemaker Software to shippers and carriers across North America.
1990’s: As many banks offering
basic freight payment services
determine they cannot compete with
the sophisticated needs of the
shipping industry, Cass expands its
customer base with the acquisition of
accounts from banks such as
Citizen’s & Southern Bank of
Atlanta, NationsBank, Bank of
America, AmSouth, National Bank
of Detroit, Marine Midland Bank
and Bank One.
1993: To keep up with the growth of its information services and to house increasing
operations, Cass Information Systems moves to a new building in Bridgeton, Missouri.
1994: Cass acquires the Bank
of Boston’s freight payment
business – which, along with
Cass, was among the first banks
to pioneer this service in the
mid-1950s.
1996: Cass introduces www.cassinfo.com and the following year debuts Internet invoice
inquiry – the first of many online services offered to customers.
1996-1997: Based on the continued growth of Cass Information Systems, the
Bridgeton, Missouri location is expanded and it also becomes Cass Bank’s
centralized headquarters.
1997: Cass establishes the Church and Ministries division to serve
the unique banking needs of this group.
1998: To meet the
growing demand for its services,
Cass forms a separate utility
payment and information services
business unit.
2000 - 2006
2000: Cass adopts a new corporate name – Cass Information Systems, Inc. – a change
reflecting that the majority of company revenue is derived from its payment and information
processing services. Cass Commercial Bank becomes a subsidiary of the new entity.
2000: Cass begins offering its Ratemaker software solely as an Internet-based service.
2001: Cass purchases Insite Services,
a utility payment and information services
provider – significantly increasing its
presence in the marketplace.
2004: Cass acquires ProfitLab’s Telecom Services –
creating the company’s Telecom Information Services business unit.
2005: Cass opens a bank branch in Orange County, California to service its fastgrowing West Coast church lending program.
2005: Cass Commercial Bank records
average loan balances of $513 million
for the year, an increase of $36 million
over 2004.
2006: Cass celebrates its first 100 years in business.