NewzIntel.com

Blog

  • MIL-OSI USA: Sen. Markey, Reps. Tonko, Fitzpatrick, Bacon, Introduce Community Mental Wellness & Resilience Act

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Bipartisan legislation bolsters mental wellness & resilience to traumas caused by climate disasters
    Washington (July 24, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee and co-Chair of the Environmental Justice Caucus, along with Representatives Paul D. Tonko (D-NY), Brian Fitzpatrick (R-PA), and Don Bacon (R-NE), today introduced the Community Mental Wellness and Resilience Act, a bipartisan bill that tackles the nation’s mental health crisis by addressing the extensive community trauma caused by climate disasters. This innovative legislation will empower communities through a new federal grant program to craft their own locally specific responses to the mental health problems caused by disasters and toxic stresses.
    “Communities are struggling to meet the current need for mental health services, and as the climate crisis worsens, unprecedented disasters will only cause more unprecedented harm to our physical and mental health,” said Senator Markey. “Heat waves, flash floods, wildfires, and droughts leave devastation and trauma in their wake. My Community Mental Wellness and Resilience Act would give communities the help they need to protect residents’ mental health, especially those in rural and underserved communities that are getting hit first and worst by disasters and have the fewest resources to deal with them.”
    “Extreme weather disasters don’t just wreak havoc on our homes, economies, and infrastructure — they inflict lasting trauma and mental harm for those both directly impacted and far beyond the affected area,” Congressman Tonko said. “We need to provide compassionate, evidence-informed solutions to support our communities. That’s why I’m leading this bipartisan legislation in partnership with my colleagues. We’ll continue working to further mental wellness and equip our communities with the resources they need to meet and overcome these traumas.”
    “For too long, our disaster response has focused solely on physical recovery, while the mental and emotional toll has gone unaddressed. This bipartisan legislation corrects that imbalance by treating mental health as a core component of our public health and emergency preparedness strategy. By investing in evidence-based, community-driven solutions, we’re not just helping communities rebuild—we’re helping them heal,” said Congressman Brian Fitzpatrick.
    “The mental health crisis affecting our communities is one of the most serious challenges of our time. We need comprehensive, community-driven solutions that empower local leaders to develop and implement programs that work for their specific needs,”?said Congressman Don Bacon.?“The bipartisan Community Mental Wellness and Resilience Act puts the power back in the hands of our communities to create meaningful, lasting change in mental health care.”
    In 2024, Mental Health America reported that nearly 23 percent of U.S. adults (~60 million people) experienced a diagnosed mental illness, with more than 5 percent facing severe conditions. Climate disasters only exacerbate the problem. Consequently, the number of people who experience a mental health problem as a result of a natural disaster often outweigh those with physical injuries by 40 to 1.
    The Community Mental Wellness and Resilience Act will:
    Establish a competitive grant program at the Department of Health and Human Services (HHS) to create, operate, or expand community-based programs that use a public health approach to build mental wellness and resilience
    Utilize these programs to enhance the capacity of all residents for mental wellness and resilience to prevent and heal mental health problems generated by disasters and toxic stresses
    Incorporating a set-aside to help address rural mental health disparities
    Help community initiatives build their own strategies to enhance and sustain population-level mental wellness and resilience, with specific attention to high-risk individuals
    More than 110 organizations support the legislation, including: Alliance of Nurses for Healthy Environments, American Foundation for Suicide Prevention, American Lung Association, American Psychiatric Association, American Public Health Association, International Transformational Resilience Coalition, Mental Health America, Moms Clean Air Force, National Association of Pediatric Nurse Practitioners, National Association of Social Workers, National League for Nursing, Rural Opportunity Institute, The Kennedy Forum, and YMCA of the USA.
    A fact sheet on the legislation can be found HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Markey Introduces Legislation to Increase Wages Nationwide for Paraprofessionals and Education Support Staff

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Bill Text (PDF)
    Washington (July 24, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Health, Education, Labor and Pensions Committee, today introduced the Pay Paraprofessionals and Education Support Staff Act, legislation that would set a minimum wage for school staff of $45,000 per year, or $30 per hour.
    “Paraprofessionals and education support staff make our schools safe, healthy places where all students can learn, grow, and thrive. They are a critical part of our education infrastructure, and we must invest in them the way they invest in our students, their families, and their communities,” said Senator Markey, who earlier today participated in a town hall at the U.S. Capitol with more than 100 educators and educational leaders to discuss the educator pay crisis. “As Trump and Republicans work to cut public education and attack educators across the country, I am proud to introduce this legislation, which will uplift paraprofessionals and education support staff and give them the support and resources they need to succeed.”
    Several educational leaders voiced their support for the Pay Paraprofessionals and Education Support Staff Act. 
    “Every day, we fight for our paraprofessionals and school-related personnel who are not paid enough; they work under tough conditions, and many are subject to violence during the workday. Too many must work multiple jobs just to make ends meet. Given the crucial role that PSRPs play in classrooms and the invaluable support they give to the students they serve, securing commensurate compensation and respect is critical. We are grateful to Sen. Markey for his commitment to paraprofessionals, bus drivers, custodians, school office staff, school food service workers and all the school staff who make our schools run. Do you think teachers and principals could do their jobs without PSRPs? The answer is ‘no.’ Sen. Markey’s bill, the Pay Paraprofessionals and Education Support Staff Act, would guarantee that the more than 370,000 members who make up the AFT’s PSRP division would have access to a family-sustaining wage. We look forward to moving this bill forward in Congress,” said Randi Weingarten, President of the American Federation of Teachers.
    “Paraprofessionals play an invaluable role in our classrooms and are at the heart of our public school — helping students learn, grow, and meet their basic needs,” said Jessica Tang, President of the American Federation of Teachers Massachusetts. “Outside of the classroom, they’re important members of the community, many have kids and grandkids in the schools and live in the communities they serve. For far too long, paraprofessionals have been forced to work multiple jobs, or rely on public assistance, just to make ends meet. One job should be enough. It’s time our paraprofessionals receive the fair wages, benefits, and respect that reflects the important work they do every day.”
    “Education Support Professionals strengthen our schools and communities by making sure our students are safe, healthy and ready to learn every day. But too many of these educators are forced to work two or three jobs to support their families, when one job should be enough. By passing the Pay Paraprofessionals and Education Support Staff Act, Congress will show they recognize and appreciate the invaluable contributions of our ESPs – both inside and outside the classroom. We want to thank Senator Ed Markey for introducing this legislation, and we urge Congress to act swiftly in passing it to demonstrate to our Education Support Professionals that, as a nation, we respect and value all they do for our students,” said Becky Pringle, President of the National Education Association. “As the Trump administration continues to take a wrecking ball to public education and the futures of the 50 million students in rural, suburban, and urban communities across America, this legislation is more important than ever to ensure our students get the support they need.”
    “An Education Support Professional told us how one of her students had an after-school job at a fast-food restaurant that paid more per hour than this district was paying veteran ESPs. This is shameful. ESPs play an increasingly vital role in our public schools, yet in too many districts across Massachusetts they do not earn a living wage. We have heard countless stories from ESPs who love working with their students but cannot afford to keep their school jobs. Senator Markey’s bill is a sensible and responsible approach to correcting a serious injustice in our public schools. By establishing a floor upon which to build a real living wage, this legislation will improve learning conditions – especially for our most vulnerable students – by stabilizing the education workforce,” said Max Page, President, and Deb McCarthy, Vice President of the Massachusetts Teachers Association.
    The bill is cosponsored by Senators Alex Padilla (D-Calif.), Mazie Hirono (D-Hawaii.), Bernie Sanders (I-Vt.), Kirsten Gillibrand (D-N.Y.), Peter Welch (D-Vt.), and Elizabeth Warren (D-Mass.).
    The bill is endorsed by the National Education Association, SEIU, American Federation of Teachers, AFSCME, Council for Exceptional Children, EdTrust, and National Women’s Law Center.
    On July 17, 2025, Senator Markey reintroduced the Preparing and Retaining All (PARA) Educators Act, legislation that would establish higher wages, career pipelines, and professional development opportunities for school paraeducators. In April 2025, Senator Markey and Representative Jahana Hayes (CT-05) introduced the Paraprofessionals and Education Support Staff Bill of Rights.
    On March 20, Senator Markey slammed Trump’s Executive Order to dismantle the Department of Education. On March 11, Senator Markey delivered remarks on the Senate Floor to spotlight Trump’s plan to gut the Department. On February 27, Senator Markey introduced the No Cuts to Public Schools Act, which would prevent any cuts to federal education formula funding during the Trump administration. On February 10, Senator Markey held a press conference in Boston with Massachusetts educators and teachers’ unions on Trump’s vow to dismantle the Department, and the impact on Massachusetts students, educators, and communities.
    On February 6, 2025, Senator Markey, members of the Massachusetts congressional delegation, along with the Massachusetts Teachers Association, American Federation of Teachers Massachusetts, Massachusetts Association of School Committees, and Massachusetts Association of School Superintendents, released a joint statement after President Trump vowed to dismantle the Department of Education.
    In September 2023, Senator Markey introduced the Green New Deal for Public Schools Act, legislation that would invest $1.6 trillion over the next decade in public and Bureau of Indian Education schools to upgrade every public school building in the country; reduce hazardous pollution; give schools the resources to hire hundreds of thousands of educators, paraprofessionals, and counselors; invest in schools serving low-income students; and fully fund education for students with disabilities.
    Senator Markey first introduced the Paraprofessional and Education Support Staff Bill of Rights in November 2023.

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn, Graham Call for Special Counsel to Investigate Obama Administration’s Role in Russia Collusion Hoax

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    WASHINGTON – U.S. Senators John Cornyn (R-TX) and Lindsey Graham (R-SC), both senior members of the Senate Judiciary Committee, today called on U.S. Attorney General Pam Bondi to appoint a special counsel to investigate the Obama administration’s involvement in the Russia collusion hoax:
    “For the good of the country, we urge Attorney General Bondi to appoint a special counsel to investigate the extent to which former President Obama, his staff, and administration officials manipulated the U.S. national security apparatus for a political outcome.
    “As we have supported in the past, appointing an independent special counsel would do the country a tremendous service in this case. 
    “With every piece of information that gets released, it becomes more evident that the entire Russia collusion hoax was created by the Obama Administration to subvert the will of the American people.
    “Democrats and the liberal media have been out to get President Trump since 2016. There must be an immediate investigation of what we believe to be an unprecedented and clear abuse of power by a U.S. presidential administration.”
    Background:
    Last week, Director of National Intelligence (DNI) Tulsi Gabbard released evidence demonstrating that former President Barack Obama and his national security staff manipulated information from the intelligence community in order to insinuate that Russia was attempting to help then-candidate Donald Trump win the 2016 presidential election, including:
    In the months leading up to the November 2016 election, the Intelligence Community (IC) assessed that Russia is “probably not trying … to influence the election by using cyber means.”
    On December 7, 2016, after the election, talking points were prepared for DNI James Clapper stating, “Foreign adversaries did not use cyberattacks on election infrastructure to alter the US Presidential election outcome.”
    A declassified copy of the Presidential Daily Brief, which was prepared using intelligence from the CIA, Defense Intelligence Agency, FBI, National Security Agency, Department of Homeland Security, State Department, and open sources, for Obama on December 8, 2016, assessed that “Russian and criminal actors did not impact recent US election results by conducting malicious cyber activities against election infrastructure.”
    That Presidential Daily Brief was scheduled to be published on December 9, 2016, but communications revealed that DNI Clapper’s office stopped its publication “based on some new guidance.”
    On December 9, 2016, Obama gathered top National Security Council Principals for a meeting in the Situation Room that included James Clapper, John Brennan, Susan Rice, John Kerry, Loretta Lynch, Andrew McCabe and others, to discuss Russia.
    After the meeting, DNI Clapper’s Executive Assistant sent an email to IC leaders tasking them with creating a new IC assessment “per the President’s request” that details the “tools Moscow used and actions it took to influence the 2016 election.” It went on to say, “ODNI will lead this effort with participation from CIA, FBI, NSA, and DHS.”
    Obama officials leaked false statements to media outlets, including The Washington Post and The New York Times, claiming, “Russia has attempted through cyber means to interfere in, if not actively influence, the outcome of an election.”
    On January 6, 2017, a new Intelligence Community Assessment was released.

    MIL OSI USA News –

  • MIL-OSI USA: RELEASE: Mullin Calls for Immediate Release of all Information Related to Epstein Case, Blasts Dem Absence Last Four Years

    US Senate News:

    Source: United States Senator MarkWayne Mullin (R-Oklahoma)

    RELEASE: Mullin Calls for Immediate Release of all Information Related to Epstein Case, Blasts Dem Absence Last Four Years

    Washington, D.C. – Today,U.S. Senator Markwayne Mullin (R-OK), introduced a resolution calling on federal and state courts to immediately unseal all materials related to any criminal investigation or prosecution of Jeffrey Epstein or Ms. Ghislaine Maxwell—subject only to redactions to protect victims.
    In his remarks, Senator Mullin previewed his resolution, addressed the Democrats’ absence on this issue for the last four years, and the need for transparency. Highlights below.

    Sen. Mullin’s full remarks can be found here.
    On the Democrats’ political theater performance:
    “As we hear my colleague from Arizona use very liberal truths to what he was saying by not giving all the facts. I’d also propose a question, where was all this outrage over the last four years when Director Wray was over the FBI and Attorney General Garland was over the DOJ? He knows, I know, and all the Democrats know that if there was anything to do with President Trump, they would have happily released it.”
    “My Lord, you went after him for everything else you could possibly think of, why wouldn’t you possibly go after this? Well, it’s because this is nothing but political theater. We know that… All of us want transparency… Why now? Is it because of their hatred towards President Trump? Because they want to do anything they can possibly do to distract what they might be hiding. Why wasn’t this done the previous four years? What happened? They had the same files. This case wasn’t new.”
    On Sen. Mullin’s resolution calling for the immediate release of the Epstein files:
    “We all want transparency and for credible information on the Epstein case to be made public so that the American people can decide. The Trump administration has already said they are committed to releasing all available files. Last week, President Trump directed AG Bondi to produce any and all pertinent grand jury testimony in the Epstein case.
    “My resolution would echo the seriousness of the directive from the President and the DOJ to the courts and calls to immediately unseal all materials. When combined with what our House colleagues have done, this resolution moves forward providing justice to the victims and transparency to the American people. Mr. President, as I said before, we want transparency.”
    On Sen. Gallego objecting to Sen. Mullin’s Resolution:
    “It’s interesting that my colleague wants to continue talking about the elites, but the elites were the ones that actually covered up the last four years of the Biden administration. I mean, think about what happened during the Biden administration. They covered up one, for his cognitive behavior. Two, they covered up the Hunter Biden laptop. Three, they covered up the Russian gate, and continue to cover up the Russian gate. And four, they covered up the fact that an autopen signed every, well, every one of his papers except one.”
    On the silence from the Democrats the last four years:
    “But yet, my colleague from Arizona is saying that we’re covering up for the elites? Let’s be honest. We know these files have been out there forever. I don’t remember a single time the Biden Administration called on these things to be released. And I definitely don’t remember my colleague from Arizona calling on these files to be released.
    Full text of Senator Mullin’s resolution can be found here.
    To read more about Senator Mullin’s resolution in Fox News, click here.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI—Hagerty Joins The Bottom Line on Fox Business to Discuss Trump’s Policy Agenda, Nominee Confirmations, Market Structure Legislation

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    WASHINGTON—Yesterday, United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations and Banking Committees and former U.S. Ambassador to Japan, joined The Bottom Line on Fox Businessto discuss the Senate’s work on President Donald Trump’s legislative priorities, efforts to confirm key nominees, and the next phase of cryptocurrency market structure legislation following the passage of the GENIUS Act.
    *Click the photo above or here to watch*Partial Transcript
    Hagerty on the August recess and public support for the Big Beautiful Bill: “I’m certainly here ready to work through the weekends, ready to work into the recess that we have scheduled. We do have a communication challenge ahead because the Democrats and their liberal media partisan allies have been out telling a story that’s not true about this bill. The elements of this bill are very popular with the United States of America– extending the tax cuts, no tax on tips, and no tax on overtime. If you think about beefing up the military and securing our border, these are all things that the American public not only wants, but they voted for. There’s a lot of good to talk about, and we need to get back to talk about it. But I appreciate the opportunity to do that here. And right now, the American public is already seeing the benefit. The stock market is at an all-time high. We’re seeing great concessions being made by countries all over the world to do more business with America, more investments taking place in America, and blue-collar wages are back on the rise again. On a real and inflation-adjusted basis, blue-collar wages are up again, like they were back when President Trump was in office before. That certainly was not the case when Joe Biden was in office. We have a lot of good news to sell.”
    Hagerty on staying in Washington to work on nominee confirmations: “I think we’re going to stay here and work. That’s what the President wants us to do. This would not be necessary— and I want to be clear about this— were it not for the maximum resistance campaign that the Democrats have put in place. This is unprecedented in terms of the number of procedural hoops they have forced us to step through, because their overarching objective is to keep President Trump from seeding his cabinet, from putting his team on the ground. Despite all of their efforts, President Trump keeps winning time and time again. Our border is secure, our economy is moving in the right direction, trade deals are coming in— we’re still winning. It would be even better if we could get our team on the ground. The Democrats are trying to stop us, and we’re just going to have to keep plowing right through. So I’m here to work, through the weekends, whatever it takes to get the team on the field.”
    Hagerty on his market structure bill: “I take a great deal of pride in my legislation, the GENIUS Act. The stablecoin bill will actually open the market for digital currencies here in the United States. It puts us and our payment system into the 21st century. It brings dollar dominance into the digital arena, so that the dollar will dominate. That’s what we have to do to make certain that we stay ahead as a nation. That opens the door then for market structure, which broadens the web and allows us to reach into this innovative market. Innovation needs to take place here in the United States, and additional market structure legislation is necessary. We put a discussion draft out this week that gives a broad outline of how we want to approach it, how we’re going to define the various types of cryptocurrencies, and whether securities and or commodities should be regulated by banks, the SEC [Securities and Exchange Commission], or the CFTC [Commodity Futures Trading Commission].”
    Hagerty on efficiency and market benefits of blockchain: “We’re requesting more input from the industry, and I expect to get a tremendous amount of input here. We’re looking to move this along as quickly as possible. I’m looking at the end of September as a target deadline to get this done. This creates the opportunity to drive down costs and improve efficiency. When thinking about the speed of transactions on the blockchain, the efficiency here is enormous. It takes out counterparty risk, reduces float in the system, removes friction, and delivers great economies of scale as it unfolds.”

    MIL OSI USA News –

  • MIL-OSI USA: Booker, Lee, McIver Introduce Bill to Expand Legal Representation for Tenants Facing Eviction

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker
    WASHINGTON, D.C. – Today, U.S. Senator Cory Booker (D-NJ) along with U.S. Representatives Summer L. Lee (D-PA-12) and LaMonica McIver (D-NJ-10), reintroduced the Eviction Right to Counsel Act, a bold effort to combat the growing eviction crisis by ensuring that low-income tenants facing eviction have access to free legal representation.
    The Eviction Right to Counsel Act would establish a federal grant program through the Department of Housing and Urban Development (HUD) to support state, local, and Tribal governments that pass legislation guaranteeing a right to counsel in eviction proceedings. The bill prioritizes funding for jurisdictions that also implement additional tenant protections like just cause eviction laws, longer notice periods, emergency rental assistance, and eviction diversion programs—creating a comprehensive strategy to prevent displacement and housing instability.
    “Millions of Americans are living paycheck to paycheck while facing rapidly increasing rent prices,” said Senator Booker. “Renters facing eviction are often left defenseless without an attorney to represent them. By creating a grant program to support communities that offer a right to counsel for those facing eviction, we will make our housing system more equitable and provide substantial cost savings to both local governments and overburdened housing services across the country.”
    “Right now, in eviction courtrooms across America, 90% of landlords have lawyers while most tenants have none. And it’s no coincidence that Black families, women, and parents are bearing the brunt of it. No one should lose their home simply because they couldn’t afford a lawyer,” said Representative Lee. “In Western Pennsylvania and across PA-12, families are being crushed by rising rents, stagnant wages, and eviction threats. This bill is about supporting working people and ensuring they have a fighting chance—and that starts with legal representation. I am proud to partner with Senator Booker and Rep. McIver on this bill to help keep people in their homes.”
    “No one should lose their home because they can’t afford to hire a lawyer to take on their case,” said Representative McIver. “The Eviction Right to Counsel Act gives people a fair shot—a chance to fight their cases in court and keep families from falling into the spiral of poverty. Housing is a human right, and this bill takes a critical step toward making sure that right is a reality that people feel.”
    “Not only is housing a basic human need, but loss of housing can lead to a cascade of harms to other needs such as health, safety, and liberty. This bill would support states and cities enacting a right to counsel for tenants facing eviction, an evidence-based approach to increasing housing stability and reducing homelessness that has been adopted by cities and states across the country,” said John Pollock, Coordinator of the National Coalition for a Civil Right to Counsel.
    “For years, NLIHC has called for a national right to counsel fund to help renters stay in their homes and mitigate harm when eviction is avoidable,” said Renee Willis, NLIHC president and CEO. “I applaud Senator Booker for introducing the Eviction Right to Counsel Act to ensure low-income tenants have legal representation when their housing is most at risk. Eviction defense attorneys can make the difference between a renter staying in safe, stable housing or homelessness, and the right to counsel helps tenants know their rights and find support in navigating the complicated eviction process.”
    “We applaud Senator Booker’s leadership on this issue and very glad to see this legislation introduced today. Eviction is a policy failure and the federal government must support mechanisms that keep people safely and stably housed. We look forward to working with the Senator to see this legislation enacted,” said Arnold Cohen, Senior Policy Advisor, Housing and Community Development Network of New Jersey.
    The legislation comes amid skyrocketing rents and surging eviction filings. Nearly half of all renters in America are considered cost-burdened, spending more than 30 percent of their income on rent. Since the pandemic, rents have risen over 12 percent year-over-year, while the protections that temporarily shielded tenants from eviction have largely expired. The imbalance of legal power in eviction proceedings leaves many tenants—particularly Black renters and families with children—vulnerable to homelessness, economic instability, and trauma.
    Studies show that providing tenants with legal representation dramatically improves outcomes, often preventing eviction altogether and saving local governments millions in emergency shelter, health care, and social services costs. Cities that have invested in right to counsel programs have seen estimated cost savings of more than three times their annual investment.
    The Eviction Right to Counsel Act of 2025:
    Authorizes the Secretary of Housing and Urban Development to create a grant program for state, local, and Tribal governments that enact right to counsel legislation.
    Defines “covered individuals” as tenants with income at or below 200 percent of the federal poverty line.
    Covers civil legal actions in court or administrative forums related to:
    Eviction: Forcible removal from a tenant’s primary residence.
    Termination of Housing Subsidy: Loss of subsidies that help tenants afford their homes, which often functions as a de facto eviction.
    Requires jurisdictions receiving funding to provide full legal representation at no cost to covered individuals in these proceedings.
    Prioritizes funding for jurisdictions that have enacted additional tenant protections, including just cause eviction laws, extended notice periods, and eviction diversion programs.
    Allows grantees to use funds for implementation costs such as attorney training and legal resources.
    Authorizes $100 million in federal funding annually for five years.
    The bill is endorsed by: the National Low-Income Housing Coalition, National Coalition for a Civil Right to Counsel, National Housing Law Project, and the Housing and Community Development Network of New Jersey.
    The bill is co-sponsored by U.S. Senators Ron Wyden (D-OR), Chris Van Hollen (D-MD), Bernie Sanders (I-VT), and Richard Blumenthal (D-CT).
    To read the full text of the bill, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Booker Hosts Virtual Town Hall with African American Chamber of Commerce of New Jersey Members, Discusses Trump’s Disastrous Effects on Local Businesses

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker
    Washington, D.C.– This afternoon, Senator Cory Booker (D-NJ) hosted a virtual town hall event with members of the African American Chamber of Commerce of New Jersey (AACCNJ). Among the top concerns from business leaders were the Trump administration and congressional Republicans’ damaging effects on local and Black businesses.
    “Seeking to placate the Trump administration at every turn, congressional Republicans–even those in our own delegation–have undermined New Jersey’s local businesses. That’s especially true for Black small business owners across the state,” said Senator Booker. “Throughout this afternoon’s town hall with AACCNJ members, it was made clear that the economic environment under Trump is one of great uncertainty for our state’s Black business community. It’s stifling innovation, hindering opportunities for our entrepreneurs and workers, and constricting local economies up and down New Jersey. I will continue to fight alongside AACCNJ to ensure New Jersey remains a place where Black businesses can flourish.”
    Under President Trump, local businesses have struggled to navigate the severe and unpredictable nature of the administration’s trade policy. These challenges are particularly acute for small businesses which largely rely on imports, leaving them especially vulnerable to Trump’s tariff disputes. At the same time, President Trump has completely undermined the Small Business Administration and the federal government’s efforts to foster more diverse and equitable practices, including in its contract and service procurement processes.
    “The African American Chamber of Commerce of New Jersey (AACCNJ) thanks Senator Booker for the opportunity to discuss the current landscape of Black businesses in New Jersey and the broader U.S. economy. We believe this conversation to be particularly timely given the recent policy changes and the upcoming gubernatorial election in New Jersey,” said Dr. John E. Harmon, Sr., Founder, President & CEO, AACCNJ.
    During the town hall, AACCNJ members asked the Senator about federal initiatives and legislation to support state and local businesses and outlined the issues specifically affecting Black businesses.

    MIL OSI USA News –

  • MIL-OSI USA: McConnell Praises President Trump’s Selection of Paducah as Future Home of AI Infrastructure

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell
    WASHINGTON, D.C. – U.S. Senator Mitch McConnell (R-KY) today praised the Trump Administration’s selection of the Department of Energy’s Paducah Site, home of the Paducah Gaseous Diffusion Plant (PGDP), as one of four locations for cutting-edge artificial intelligence (AI) data centers and energy generation projects: 
    “This is great news for the Paducah community, and I want to thank President Trump for selecting the Paducah Site to host new AI infrastructure. The site at the Paducah Gaseous Diffusion Plant has long held a critical role in advancing U.S. national security, and is poised, yet again, to be a national leader in an emerging and important technology. I am proud of the Paducah community and its workforce and know they are prepared to continue working closely with the Department of Energy to further instill PGDP’s role in national security while helping facilitate greater U.S. leadership in AI.” 
    NOTE: Earlier this year, Senator McConnell contacted U.S. Department of Energy Secretary Chris Wright on behalf of the community in support of Paducah’s submission for the nationwide search for the highly competitive Artificial Intelligence Infrastructure on DOE Lands program. 

    MIL OSI USA News –

  • MIL-OSI USA: NEWS: Sanders Introduces Legislation to Address America’s Teacher Pay Crisis, Holds Town Hall with Public School Educators

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders
    WASHINGTON, July 24 — Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today introduced the Pay Teachers Act after hearing from more than 200 teachers and educational leaders from across the country during a town hall at the U.S. Capitol. At a time when school districts nationwide report serious staffing shortages — largely due to unprecedented levels of stress, burnout and low pay — this legislation begins to address the teacher pay crisis in America and ensure that all public school teachers earn a livable and competitive wage that is at least $60,000 a year and increases over the course of their career.
    In addition to Sanders, Sens. Ed Markey (D-Mass.), Mazie Hirono (D-Hawaii), Ben Ray Lujan (D-N.M.), Peter Welch (D-Vt.), John Fetterman (D-Pa.), Jeff Merkley (D-Ore.), Elizabeth Warren (D-Mass.) and Alex Padilla (D-Calif.) also cosponsored this legislation. Joining Sanders at the town hall today were Markey; Randi Weingarten, president of the American Federation of Teachers (AFT); Princess Moss, vice president of the National Education Association (NEA); and educators from across the country.
    “If we are serious about the need for a bright and hopeful future for America, we must understand that there is no more important job in our country than educating our young people. And yet, public school teachers in America have one of the toughest, one of the most demanding and one of the most under-appreciated jobs in America,” Sanders said. “The situation has become so absurd that just four hedge fund managers on Wall Street make more money in a single year than every kindergarten teacher in America combined – over 120,000 teachers. Far too many of our nation’s public schools are under-funded, under-resourced and in major need of repair. Far too many of our public school teachers are under-paid, under-appreciated and overwhelmed. And, as a result of the so-called ‘Big Beautiful Bill’ that Trump signed into law a few weeks ago, a bad situation is about to get even worse. If we are going to have the best public school system in the world, we have got to radically change our attitude toward education and make sure that every teacher in America receives the compensation that they deserve for the enormously important and difficult work that they do. No public school teacher in America should make less than $60,000 a year.”
    Today in America, nearly one in eight teaching jobs is vacant or filled by a teacher who is not fully certified. Approximately one-third of all public school teachers make less than $60,000 a year — including more than 90% of starting teachers. Hundreds of thousands of teachers have to work two or three jobs during the school year to make ends meet. Meanwhile, the average weekly wage for public school teachers has decreased by 5% over the past 30 years, adjusted for inflation. Today, 44% of public school teachers quit the profession within five years.
    The pandemic only made things worse for educators, with the historic staffing shortages disproportionately affecting schools primarily serving students of color and students from low-income backgrounds. Recent studies show that, of all workers, K-12 public school teachers were the most likely to report higher levels of anxiety, stress and burnout during the pandemic. Further, as badly as public school teachers are paid, our school custodians, food service workers and paraprofessionals earn even less. In America today, nearly 35% of paraprofessionals and school staff earn less than $25,000 a year.
    Unacceptably, the Republican reconciliation bill recently signed into law is disastrous for public education and for public school teachers. While it provides a $900 billion tax cut to large, profitable corporations and a $1 trillion tax cut to the top 1%, it cuts over $300 billion in education funding for millions of students and educators throughout America and provides over $50 billion a year for private school vouchers.
    “If we are going to attract the best and brightest young people into teaching, if we are going to encourage teachers to teach in underserved communities, if we are going to improve teacher retention and morale, and if we are going to improve student academic outcomes, then we need to pay teachers in America decent wages and decent benefits,” Sanders continued. “We need to make it clear that high-quality public education is a major priority. That is why I am introducing the Pay Teachers Act. Because if we can provide over a trillion dollars in tax breaks to the top 1% and large corporations, please don’t tell me that we cannot afford to make sure that every teacher in America is paid at least $60,000 a year. I look forward to working with teachers and schools all across the country — some of whom I had the pleasure of hearing from today — to make that happen.”
    The bill would also provide all teachers with at least $1,000 annually for classroom supply expenses and help schools create well-paid career ladders that allow teachers to advance without leaving the classroom. Additionally, it includes Markey’s Pay Paraprofessionals and Education Support Staff Act, which would raise pay for paraprofessionals and education support personnel to at least $45,000 a year or $30 an hour. In addition to requiring that states establish a minimum teacher’s salary of $60,000 a year and pay all teachers a livable and competitive salary that increases as experience and responsibilities grow, the Pay Teachers Act would significantly increase federal investments in teachers and public schools, including tripling Title I-A funding and funding for rural education programs, diversifying and expanding the teacher pipeline, and strengthening leadership and advancement opportunities for educators.
    “Sen. Sanders’s bill, the Pay Teachers Act, will help close the pay gap by significantly increasing federal investments in public schools and raising annual teacher salaries to at least $60,000—as well as providing increases throughout teachers’ careers—to help ensure they are paid a livable and competitive salary,” said AFT President Randi Weingarten. “It would also invest in the teacher pipeline and leadership opportunities. This is a crucial federal investment to help sustain the teaching profession, which will directly help us provide greater opportunities to our students. At a time when others are abandoning public schools and our students, Sen. Sanders is proposing a necessary strategic remedy that will help attract teachers to the profession and retain them.”
    “Across the country, most of us across race, place and background want the same thing – strong public schools where every student can thrive and strong communities that support them. In order to attract and retain the passionate, qualified educators that inspire our students, give them the one-on-one support, and do everything in their power to help each student succeed, we need to pay teachers like the professionals they are. America’s educators applaud Sen. Bernie Sanders for introducing the Pay Teachers Act, which takes steps to ensure that our nation’s committed public school educators and educator support personnel receive professional recognition, including appropriate pay while also augmenting the current federal programs that support the educator pipeline. We urge Senators to support educators and cosponsor this common-sense legislation that invests in our students, educators, and public schools,” said NEA Vice President Princess Moss.
    The reintroduction of the Pay Teachers Act comes as the Trump administration continues to illegally withhold nearly $5.5 billion in critical funding for public education that was appropriated by Congress, including funds that states use to provide professional development for teachers and to pay teacher salaries. Sanders and his colleagues have repeatedly pushed for the administration to immediately release these funds.
    More than 30 organizations endorsed the Teacher Pay Act, including American Federation of Teachers, National Education Association, National PTA and The Education Trust.
    Read the bill text here.
    Read a summary of the bill here.

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: Ricketts Preserves the Good Life

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)
    WASHINGTON, D.C. – Yesterday, during his weekly press call with Nebraska media, U.S. Senator Pete Ricketts (R-NE) discussed the One Big Beautiful Bill and his work to deliver results that matter for Nebraska families.
    Watch the video here.
    “Nebraska is what America is supposed to be,” said Ricketts.  “We believe in hard work.  We provide for our families and take care of our communities.  We defend our freedom.  The One Big Beautiful Bill reflects those values and delivers results where they matter most.”
    TRANSCRIPT:
    Senator Ricketts: “Nebraska is what America is supposed to be. 
    “We believe in hard work. 
    “We provide for our families and take care of our communities. 
    “We defend our freedom. 
    “The One Big Beautiful Bill reflects those values and delivers results where they matter most.  
    “Nebraska workers were under pressure after years of inflation, overregulation, and rising costs as a result of the Biden administration. 
    “This bill fights back with historic tax relief and educational opportunities. 
    “It helps Nebraskans keep more of what they earn and protects Nebraska values.   
    “President Trump and Congressional Republicans are determined to put money back into Americans’ pockets. 
    “The most essential relief helps workers making less than $50,000 a year. 
    “The One Big Beautiful Bill eliminates federal tax on tips up to $25,000 per year. 
    “The no tax on overtime provision provides a deduction of up to $12,500. 
    “Just last week, I was flying out from Nebraska to D.C. when a TSA officer stopped me and thanked me for no tax on overtime.
    “In fact, he even asked if we could make that permanent. 
    “But the no tax on overtime isn’t just for the TSA—it’s for nurses, factory workers, police officers, and servers. 
    “It’s for all of the jobs that keep Nebraska and this country safe and running.   
    “This tax cut is for all jobs that sometimes require workers to give a little more and work a little harder.  
    “We are rewarding their sacrifice. 
    “Without this bill, the average Nebraska family would have seen a hike of $2,400 in taxes.
    “That’s $2,400 that Nebraskans can continue to spend on groceries, utilities, or saving toward a family vacation. 
    “The Biden administration punished hard-working Americans with inflation and wasted taxpayer dollars. 
    “The One Big Beautiful Bill helps Americans save taxes and lays the groundwork for decades of economic growth. 
    “It preserves the good life.  
    “The bill is a win for Nebraska families. 
    “The Child Tax Credit was increased to $2,200. 
    “The child and dependent care tax credit increases the maximum credit rate from 35% to 50%.
    “It’s combined with enhancement of the dependent care assistance program, which excludes up to $7,500 of dependent care assistance expenses from income each year.   
    “That is up from a previous limit of $5,000. 
    “Finding affordable and reliable childcare can be a challenge all across our state for working parents. 
    “With this bill, employers can now offer families more support without raising their workers’ costs. 
    “The employer-provided childcare credit was expanded from $150,000 to $500,000 and a new $600,000 childcare credit was created for small businesses. 
    “This will encourage more businesses to invest in childcare for their workers. 
    “The One Big Beautiful Bill gives families educational freedom and fixes how students are paying for higher education. 
    “American families now have the opportunity to choose the education that fits their children best. 
    “The bill creates a new tax credit of up to $1,700 for donations to scholarship-granting organizations that help K through 12 students access better educational opportunities. 
    “One of my priorities in this bill is the extension of Pell Grant eligibility to short-term, high-quality job training programs. 
    “This is a proven Nebraska solution I led when I was Governor. 
    “When I was Governor, we supported programs like the Nebraska Youth Registered Apprenticeship Program. 
    “We encouraged students to join the Registered Apprenticeship program and increased participation. 
    “We also started the Developing Youth Talent Initiative to connect young Nebraskans with learning opportunities in their schools about what careers they may want to choose in the future.
    “These give young people the opportunity to combine academic and technical experience with work experience.  
    “This gave Nebraska youth the foundation to choose from several pathways—to enroll in college, begin full-time employment, or combine work with training.   
    “Now, a young Nebraskan in Scottsbluff interested in welding or mechanics can qualify for federal financial aid and go to work, for example, at Aulick Industries. 
    “The bill also provides exemptions for agriculture-related assets, like farmland and combines, from FAFSA calculations. 
    “This means that farm families across the state, from Dawson to Dawes counties, aren’t going to be penalized when seeking financial aid for higher education. 
    “The bill simplifies repayment plans and caps runaway borrowing. 
    “It holds colleges accountable for leaving students with burdensome debt. 
    “Federal loans can no longer fund programs where graduates are earning less than someone with a high school diploma. 
    “Now that is common sense education policy.    
    “The One Big Beautiful Bill defends Nebraska’s values. 
    “It supports families. 
    “It encourages hard work and smart education. 
    “These are wins we promised and wins we delivered. 
    “This is how we fight for Nebraska. 
    “This is how we preserve the good life.” 

    MIL OSI USA News –

  • MIL-OSI Security: Security News: Arizona Woman Sentenced for $17M Information Technology Worker Fraud Scheme that Generated Revenue for North Korea

    Source: United States Department of Justice

    An Arizona woman was sentenced today to 102 months in prison for her role in a fraudulent scheme that assisted North Korean Information Technology (IT) workers posing as U.S. citizens and residents with obtaining remote IT positions at more than 300 U.S. companies. The scheme generated more than $17 million in illicit revenue for Chapman and for the Democratic People’s Republic of Korea (DPRK or North Korea).

    Christina Marie Chapman, 50, of Litchfield Park, Arizona, pleaded guilty on Feb. 11 in the District of Columbia to conspiracy to commit wire fraud, aggravated identity theft, and conspiracy to launder monetary instruments. In addition to the 102-month prison term, U.S. District Court Judge Randolph D. Moss ordered Chapman to serve three years of supervised release, to forfeit $284,555.92 that was to be paid to the North Koreans, and to pay a judgment of $176,850.

    “Christina Chapman perpetrated a years’ long scheme that resulted in millions of dollars raised for the DPRK regime, exploited more than 300 American companies and government agencies, and stole dozens of identities of American citizens,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Chapman made the wrong calculation: short term personal gains that inflict harm on our citizens and support a foreign adversary will have severe long term consequences.  I encourage companies to remain vigilant of these cyber threats, and warn individuals who may be tempted by similar schemes to take heed of today’s sentence.”

    “North Korea is not just a threat to the homeland from afar. It is an enemy within. It is perpetrating fraud on American citizens, American companies, and American banks. It is a threat to Main Street in every sense of the word,” said U.S. Attorney Jeanine Ferris Pirro for the District of Columbia. “The call is coming from inside the house. If this happened to these big banks, to these Fortune 500, brand name, quintessential American companies, it can or is happening at your company. Corporations failing to verify virtual employees pose a security risk for all. You are the first line of defense against the North Korean threat.”

    “The North Korean regime has generated millions of dollars for its nuclear weapons program by victimizing American citizens, businesses, and financial institutions,” said Assistant Director Rozhavsky of the FBI’s Counterintelligence Division. “However, even an adversary as sophisticated as the North Korean government can’t succeed without the assistance of willing U.S. citizens like Christina Chapman, who was sentenced today for her role in an elaborate scheme to defraud more than 300 American companies by helping North Korean IT workers gain virtual employment and launder the money they earned. Today’s sentencing demonstrates that the FBI will work tirelessly with our partners to defend the homeland and hold those accountable who aid our adversaries.”

    “The sentencing today demonstrates the great lengths to which the North Korean government will go in its efforts and resources to fund its illicit activities. The FBI continues to pursue these threat actors to disrupt their network and hold those accountable wherever they may be,” said Special Agent in Charge Heith Janke of the FBI Phoenix Field Office.

    “Today’s sentencing brings justice to the victims whose identities were stolen for this international fraud scheme,” said Special Agent in Charge Carissa Messick of the IRS Criminal Investigation (IRS-CI) Phoenix Field Office. “The scheme was elaborate. If this sentencing proves anything, it’s that no amount of obfuscation will prevent IRS-CI and our law enforcement partners from tracking down those that wish to steal the identities of U.S. nationals, launder money, or engage in criminality that jeopardizes national security.”

    The case involved one of the largest North Korean IT worker fraud schemes charged by the Department of Justice, with 68 identities stolen from victims in the United States and 309 U.S. businesses and two international businesses defrauded.

    According to court documents, North Korea has deployed thousands of highly skilled IT workers around the world, including to the United States, to obtain remote employment using false, stolen, or borrowed identities of U.S. persons. To circumvent controls employed by U.S. companies to prevent the hiring of illicit overseas IT workers, the North Korean IT workers obtain assistance from U.S.-based collaborators.

    Chapman helped North Korean IT workers obtain jobs at 309 U.S. companies, including Fortune 500 corporations. The impacted companies included a top-five major television network, a Silicon Valley technology company, an aerospace manufacturer, an American car maker, a luxury retail store, and a U.S media and entertainment company. Some of the companies were targeted by the IT workers, who maintained a repository of postings for companies that they wanted to employ them. The IT workers also attempted to obtain employment at two different U.S. government agencies, although these efforts were generally unsuccessful.

    Chapman operated a “laptop farm” where she received and hosted computers from the U.S. companies at her home, deceiving the companies into believing that the work was being performed in the United States. Chapman also shipped 49 laptops and other devices supplied by U.S. companies to locations overseas, including multiple shipments to a city in China on the border with North Korea. More than 90 laptops were seized from Chapman’s home following the execution of a search warrant in October 2023.

    Christina Chapman organized and stored U.S. company laptops in her home, and included notes identifying the U.S. company and identity associated with each laptop.

    Much of the millions of dollars in income generated by the scheme was falsely reported to the IRS and Social Security Administration in the names of actual U.S. individuals whose identities had been stolen or borrowed. Additionally, Chapman received and forged payroll checks in the names of the stolen identities used by the IT workers and received IT workers’ wages through direct deposit from U.S. companies into her U.S. financial accounts. Chapman further transferred the proceeds from the scheme to individuals overseas.

    This case was investigated by the FBI Phoenix Field Office, and the IRS-CI Phoenix Field Office. Assistance was provided by the FBI Chicago Field Office.

    Trial Attorney Ashley R. Pungello of the Criminal Division’s Computer Crime and Intellectual Property Section and Assistant U.S. Attorney Karen P. Seifert for the District of Columbia prosecuted the case, with assistance from Paralegal Specialist Jorge Casillas. Assistant U.S. Attorney Joshua Rothstein for the District of Columbia, the Victim Witness Unit, the U.S. Attorney’s Office for the District of Arizona, and the National Security Division’s National Security Cyber Section also provided assistance.

    ***

    In a coordinated effort, FBI Phoenix also issued guidance for HR professionals on detecting North Korean IT workers, and the Department of State issued guidance on the North Korean IT worker threat.

    Prior guidance was issued by the FBI, State Department, and the Department of the Treasury on this threat in a May 2022 advisory, and by the United States and the Republic of Korea (South Korea) in October 2023. The FBI issued updated guidance in May 2024 regarding the use of U.S. persons acting as facilitators by providing a U.S.-based location for U.S. companies to send devices and a U.S.-based internet connection for access to U.S. company networks and in January 2025 concerning the extortion and theft of sensitive company data by North Korean IT workers, along with recommended mitigations.

    MIL Security OSI –

  • MIL-OSI Security: Defense News in Brief: Navy Aims to Harness Innovation, Modernize Fleet Capabilities

    Source: United States Department of Defense

    Years of shrinking fleet size, diminished shipbuilding capacity and on-time repair delivery are persistent challenges for the Navy and the nation, said Navy Adm. Daryl L. Caudle, who spoke at a Senate Armed Services Committee nomination hearing in Washington.

    MIL Security OSI –

  • MIL-OSI USA: Issa, Stefanik Introduce the Modern Firearm Safety Act

    Source: United States House of Representatives – Congressman Darrell Issa (CA-50)

    WASHINGTON, D.C. – Today, Congressman Darrell Issa (CA-48) and Congresswoman Elise Stefanik (NY-21) reintroduced legislation to eliminate unconstitutional handgun rosters that prevent law-abiding citizens in California and New York from freely purchasing modern handgun models.   

    “For decades, the clear Constitutional rights of law-abiding gun owners have been targeted for elimination, and handgun rosters are only one of the cynical schemes used to undermine the Second Amendment through the pretense of firearm safety,” said Rep. Issa. “These rosters impose excessive and unnecessary requirements that actually restrict access to firearms equipped with the most up-to-date safety features, and that’s why I’m proud to partner with my friend Rep. Stefanik to defend sacred rights and end these unjust restrictions.”

    The Modern Firearm Safety Act prohibits all states from requiring gun manufacturers to adopt costly and unnecessary features – including loaded chamber indicators, magazine disconnect mechanisms, and microstamping – to sell firearms nationwide.  

    “I am proud to re-introduce the Modern Firearm Safety Act to end the unconstitutional gun-grabbing agenda thrust on law-abiding New York residents by Far-Left Democrats like Kathy Hochul. This legislation would ban Albany Democrats from imposing illegal handgun roster requirements meant to deter gun ownership. I will always protect American citizens’ Second Amendment rights and provide a critical check to any entity attempting to encroach on their liberties,” said Chairwoman Stefanik. 

    “Liberal states use handgun rosters to violate the Second Amendment rights of law-abiding citizens. The Modern Firearm Safety Act will put a stop to these unconstitutional rosters and uphold Americans’ right to bear arms,” said Rep. Gooden. 

    “Gun control governors are far too ready and willing to sign into law antigun policies sent to their desks by legislatures that do not respect the Second Amendment rights of law-abiding Americans. That includes policies passed under the guise of ‘gun safety,’ that penalize responsible and lawful gun owners while doing nothing to improve community safety or hold criminals accountable,” said Lawrence G. Keane, NSSF Senior Vice President for Government and Public Affairs. “The Modern Firearm Safety Act, sponsored by Congressman Darrell Issa (R-CA) and House Republican Leadership Chairwoman Elise Stefanik (R-NY), would ban states from enacting laws mandating unproven and unconstitutional infringements and would instead protect the Constitutional rights of law-abiding citizens and the highly regulated, lawful businesses that provide the means necessary for citizens to exercise their right to keep and bear arms. NSSF thanks Congressman Issa and Chairwoman Stefanik for their leadership on this effort.”

    “By eliminating outdated, burdensome, and unnecessary restrictions, the Modern Firearm Safety Act ensures access to safer, more advanced firearms for law-abiding citizens,” said Brian R. Marvel, President of the Peace Officers Research Association of California (PORAC). “We appreciate Representative Issa’s leadership on this critical legislation that upholds constitutional rights while ensuring peace officers and responsible citizens have access to modern, safe firearms essential for their duties and personal safety.”

    For too long, states like California and New York have attempted to end-run the rights of law-abiding Americans by requiring them to select from a limited, pre-approved “handgun roster,” solely designed to restrict the sale of new semi-automatic handguns. These rosters mandate unwanted and unnecessary features that go beyond the industry standard, driving up costs while limiting the ability to purchase a safe and reliable firearm best suited for that individual’s situation,” said John Commerford, Executive Director of NRA-ILA. “The NRA thanks Representatives Darrell Issa and Elise Stefanik for their leadership on this issue and applauds the introduction of this vital legislation that would ensure the ability of NRA members and lawful firearm owners everywhere to exercise their Second Amendment rights as they see fit.”

    Cosponsors include: Congresswoman Claudia Tenney (NY-24), Congressman Mike Collins (GA-10), Congressman Lance Gooden (TX-05), Congressman Andy Biggs (AZ-05), Congressman Pat Fallon (TX-04), Congressman Cory Mills (FL-07), and Congressman Chuck Fleischmann (TN-03). 

    The bill text can be found here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Senator Baldwin Statement on Governor Evers’ Retirement

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI) released the following statement on Governor Tony Evers’ announcement that he will not seek reelection in 2026:

    “Wisconsin is lucky to have had Tony Evers leading our state. He has always put Wisconsin – and Wisconsin’s children – first, and we will continue to see those benefits for generations to come. The Governor’s commitment to every kid’s education, our teachers, and public schools will undoubtedly shape our future for the better and be a cornerstone of his legacy. His steady hand led us through a once-in-a-generation pandemic, and Wisconsin came out the other side with a strong economy, record low unemployment, and a strong sense of community that bonds us all.

    “Tony embodies the best of the Wisconsin way – he knows what is right and is willing to fight for it, but is level-headed, Midwestern nice, and always willing to bridge divides if it’s right for our state. The Governor faced tough headwinds to progress, but it never stopped him. I am grateful to call Tony a friend and am ‘jazzed as hell’ to see what comes next for him and Kathy. Thank you for all you have done for Wisconsin, Tony.”
     

    MIL OSI USA News –

  • MIL-OSI USA: Padilla Rejects Lifetime Judicial Appointment of Unfit Trump Loyalist Emil Bove

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.), a member of the Senate Judiciary Committee, issued the following statement after voting against advancing the nomination of Third Circuit Court of Appeals nominee Emil Bove, one of Trump’s personal lawyers with an extensive track record of spreading misinformation and enacting political retribution:

    “With their votes today, Republicans turned a blind eye to Emil Bove’s lies, vindictiveness, and abuse of power to rubber-stamp one of President Trump’s most dangerous judicial nominees.

    “This is a man who dropped the charges against New York Mayor Eric Adams in exchange for his cooperation with the President’s cruel anti-immigrant agenda. A man who fired the investigators and prosecutors uncovering the truth about the January 6 insurrection. A man who has vowed to ignore courts’ lawful orders when they keep the President from doing what he wants.

    “President Trump’s litmus test for selecting his nominees is not experience or dedication to our country, or commitment to the truth or the rule of law — it’s only loyalty to him and his extreme agenda. Bove has made it clear that he won’t let the law prevent him from satisfying the President’s whims. My colleagues have one last chance to uphold their advice and consent responsibilities and reject Bove’s final confirmation.”

    Last week, Padilla and Senate Judiciary Committee Democrats boycotted Bove’s markup vote in response to Republicans’ flagrant violation of Committee rules to jam the nominees through without debate. Padilla also joined CNN’s “The Lead with Jake Tapper” to speak out against Bove’s extensive track record of unethical and unprofessional conduct and political retaliation.

    During Bove’s Senate Judiciary Committee nomination hearing, Padilla slammed him for his role in firing dozens of Department of Justice (DOJ) prosecutors who worked on January 6 cases and the DOJ’s decision to drop the corruption charges against New York Mayor Eric Adams in exchange for assistance with President Trump’s mass deportations. Last week, Padilla joined Senate Judiciary Committee Democrats in calling for Chairman Chuck Grassley (R-Iowa) to schedule a hearing to collect testimony from Mr. Erez Reuveni, former Acting Deputy Director for the Office of Immigration Litigation at the Department of Justice, who disclosed allegations of misconduct and documentation regarding Bove. Previously, Padilla joined Senate Judiciary Democrats in requesting personnel records relevant to Bove from Interim U.S. Attorney for the Southern District of New York Jay Clayton. Padilla and Senate Judiciary Democrats also filed a professional misconduct complaint against Bove with the New York State Bar, citing reported misconduct in moving to dismiss charges against Mayor Adams.

    MIL OSI USA News –

  • MIL-OSI USA: Padilla, Gallego, Salinas, Barragán Introduce Mental Health for Latinos Act

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    WASHINGTON, D.C. — As the nation observes Minority Mental Health Awareness Month, U.S. Senators Alex Padilla (D-Calif.) and Ruben Gallego (D-Ariz.), along with Representatives Andrea Salinas (D-Ore.-02) and Nanette Barragán (D-Calif.-44), introduced the Mental Health for Latinos Act, legislation to improve mental health outcomes among Latino and Hispanic communities. 

    Barriers to mental health care within Latino communities cause far too many individuals to suffer in silence. Only 47.4 percent of Hispanic adults ages 18 or older with any mental illness received services in 2023. Between 2010 and 2020, the suicide rate among male Hispanic adults (ages 20 to 64) increased by 35.7 percent, and the rate among women specifically increased by 40.6 percent. Even those who can access services rarely receive the effective, culturally competent care they need.

    “No one should suffer in silence,” said Senator Padilla. “We need to break down the barriers that keep Latinos from getting the mental health care they need, when stigma and language access can make it even harder to ask for help. The Mental Health for Latinos Act would improve mental health outcomes by reducing stigma in the Latino community and encouraging people to reach out for help. As we tackle the rise in mental health challenges, it’s critical that we acknowledge the distinct needs of our diverse communities and develop solutions that meet people where they are.”

    “Too many Latinos, especially men, shy away from seeking help because they’re afraid of being judged, and that only makes the problem worse. This issue is personal to me. This bill would help break the stigma around mental health and make it easier to get care from people who actually understand our community. I want everyone to know that they’re not alone and that getting help is not a weakness,” said Senator Gallego.

    “As Co-Chair of the bipartisan Mental Health Caucus and a proud Latina, I know how crucial it is to end the stigma around mental health care and improve outcomes and access to care among Latino communities,” said Representative Salinas. “I’ve been on the other end of a phone call with someone who is having a mental health crisis. I see how important it is for people not only to have access to mental health care, but also to be able to get the culturally competent care that meets them where they are.”

    “This legislation is a first step to breaking down the unique barriers that prevent our Latino communities from receiving the help they need. Mental health is a challenge that many Americans bear silently — but they shouldn’t have to,” said Representative Barragán. “Ensuring that our communities in need receive specialized resources and outreach will help break down cultural stigmas and language barriers that prevent Americans from accessing mental health care that is essential to their overall health and well-being.”

    Informed and culturally competent resources, education materials, and outreach programs are vital to addressing the mental health crisis. The Mental Health for Latinos Act recognizes the unique mental health challenges of the Latino community, aiming to reduce cultural stigma and rectify health care disparities that prevent people from receiving lifesaving mental health services. As our nation confronts a worsening mental health crisis, this critical legislation reinforces the message that there is zero shame in asking for help and that seeking support is a sign of strength.

    Specifically, the bill would:

    • Require the Substance Abuse and Mental Health Services Administration (SAMHSA) to develop and implement an outreach and education strategy to promote behavioral and mental health among the Latino and Hispanic populations that:
      • Meets diverse cultural and language needs and is developmentally and age-appropriate,
      • Increases awareness of symptoms of mental illnesses,
      • Provides information on evidence-based, culturally and linguistically appropriate adapted interventions and treatments,
      • Ensures full participation of community members, and
      • Uses a comprehensive public health approach to promoting behavioral health by focusing on the intersection between behavioral and physical health.
    • Require SAMHSA to report annually to Congress on the extent to which the strategy improved behavioral and mental health outcomes among these populations.

    The legislation is cosponsored by U.S. Senators Martin Heinrich (D-N.M.) and Mazie Hirono (D-Hawaii).

    The Mental Health for Latinos Act is endorsed by organizations including American Foundation for Suicide Prevention, National Alliance on Mental Illness, UnidosUS, American Mental Health Counselors Association, Inseparable, American Association for Psychoanalysis in Clinical Social Work, Psychotherapy Action Network (PsiAN), Global Alliance for Behavioral Health & Social Justice, American Association of Psychiatric Pharmacists (AAPP), American Group Psychotherapy Association, Epilepsy Foundation of America, National Council for Mental Wellbeing, the International Society for Psychiatric-Mental Health Nurses (ISPN), the International OCD Foundation (IOCDF), and Fountain House.

    Senator Padilla is a leading advocate for expanding mental health care access, especially for underserved communities. In 2023, Padilla launched the bipartisan Senate Mental Health Caucus to serve as a forum for Senators to collaborate on and promote bipartisan legislation and solutions, hold events to raise awareness of critical mental health issues, and destigmatize mental health. Earlier this year, Padilla condemned the Trump Administration’s proposed dissolution of SAMHSA as part of the Department of Health and Human Services’ (HHS) restructuring plan and the White House Office of Management and Budget’s HHS budget proposal. Padilla also led 12 Democratic Senators in warning HHS Secretary Kennedy that additional staffing cuts at SAMHSA would have disastrous ramifications for millions of Americans struggling with mental and behavioral health challenges. Previously, Padilla applauded the Federal Communications Commission for making critical improvements to the 9-8-8 Suicide and Crisis Lifeline by adopting the main provisions of his Local 9-8-8 Response Act of 2023. Additionally, Padilla introduced bipartisan legislation earlier this year to combat the growing youth mental health crisis in America through early intervention and prevention services. Padilla previously introduced bills to address the unique mental health needs of military children and farm workers.

    A one-pager on the bill is available here.

    Full text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Takes Action to End Crime and Disorder on America’s Streets

    Source: US Whitehouse

    ENDING VAGRANCY AND RESTORING ORDER: Today, President Donald J. Trump signed an Executive Order to restore order to American cities and remove vagrant individuals from our streets, redirecting federal resources toward programs that tackle substance abuse and returning to the acute necessity of civil commitment.

    • The Order directs the Attorney General to reverse judicial precedents and end consent decrees that limit State and local governments’ ability to commit individuals on the streets who are a risk to themselves or others.  
    • The Order requires the Attorney General to work with the Secretary of Health and Human Services, Secretary of Housing and Urban Development, and the Secretary of Transportation to prioritize grants for states and municipalities that enforce prohibitions on open illicit drug use, urban camping and loitering, and urban squatting, and track the location of sex offenders.
    • The Order redirects funding to ensure that individuals camping on streets and causing public disorder and that are suffering from serious mental illness or addiction are moved into treatment centers, assisted outpatient treatment, or other facilities.
    • The Order ensures discretionary grants for substance use disorder prevention, treatment, and recovery do not fund drug injection sites or illicit drug use.
    • The Order stops sex offenders who receive homelessness assistance from being housed with children, and allows programs to exclusively house women and children.

    ENSURING AMERICANS FEEL SAFE IN THEIR OWN CITIES AND TOWNS: President Trump is taking a new approach focused on protecting public safety because surrendering our cities and citizens to disorder and fear is neither compassionate to the homeless nor to other citizens. 

    • The number of individuals living on the streets in the United States on a single night during the last year of the Biden administration—274,224 —was the highest ever recorded.
    • The overwhelming majority of these individuals are addicted to drugs, have a mental health disorder, or both.
    • Federal and state governments have spent tens of billions of dollars on failed programs that address homelessness but not its root causes, leaving other citizens vulnerable to public safety threats.
    • Shifting these individuals into long-term institutional settings for humane treatment is the most proven way to restore public order. 

    MAKING AMERICA SAFE AGAIN: President Trump is committed to ending homelessness across America. 

    • In 2023, President Trump said: “We will use every tool, lever, and authority to get the homeless off our streets. We want to take care of them, but they have to be off our streets.”
    • In March 2025, President Trump signed an Executive Order to beautify Washington D.C., directing the National Park Service to clear all homeless encampments and graffiti on Federal lands.
    • In May 2025, President Trump signed an Executive Order establishing the National Center for Warrior Independence, a place where homeless veterans can go to receive the care, benefits, and services to which they are entitled.
    • As part of First Lady Melania Trump’s BE BEST Initiative, the Department of Housing and Urban Development announced a $1.8 million dollar investment to prevent homelessness among young Americans aging out of the foster care system.

    MIL OSI USA News –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Saves College Sports

    Source: US Whitehouse

    SAVING COLLEGE SPORTS: Today, President Donald J. Trump signed an Executive Order to protect student-athletes and collegiate athletic scholarships and opportunities, including in Olympic and non-revenue programs, and the unique American institution of college sports.

    • The Order requires the preservation and, where possible, expansion of opportunities for scholarships and collegiate athletic competition in women’s and non-revenue sports.
    • The Order prohibits third-party, pay-for-play payments to collegiate athletes.  This does not apply to legitimate, fair-market-value compensation that a third party provides to an athlete, such as for a brand endorsement.
    • The Order provides that any revenue-sharing permitted between universities and collegiate athletes should be implemented in a manner that protects women’s and non-revenue sports.
    • The Order directs the Secretary of Labor and the National Labor Relations Board to clarify the status of student-athletes in order to preserve non-revenue sports and the irreplaceable educational and developmental opportunities that college sports provide.
    • The Order directs the Attorney General and the Federal Trade Commission to take appropriate actions to protect student-athletes’ rights and safeguard the long-term stability of college athletics from endless, debilitating antitrust and other legal challenges.
    • The Order directs the Assistant to the President for Domestic Policy and the Director of the White House Office of Public Liaison to consult with the U.S. Olympic and Paralympic Teams and other organizations to protect the role of college athletics in developing world-class American athletes.

    RECOGNIZING THE IMPORTANCE OF COLLEGE SPORTS: President Trump recognizes the critical role of college sports in fostering leadership, education, and community pride, the need to address urgent threats to its future, including endless litigation seeking to eliminate the basic rules of college sports, escalating private-donor pay-for-play payments in football and basketball that divert resources from other sports and reduce competitive balance, and the commonsense reality that college sports are different than professional sports.

    • College sports, a uniquely American institution, support over 500,000 student-athletes with nearly $4 billion in scholarships annually, forging America’s future leaders, driving local economies and shaping national culture.
    • The collegiate athletic system produced 75% of the 2024 U.S. Olympic Team and has yielded countless business and civic leaders.
    • Recent litigation, including a 2021 Supreme court ruling on name, image, and likeness (NIL) payments and subsequent cases dismantling NCAA transfer and recruiting rules, has created a chaotic environment that threatens the financial and structural viability of college athletics.
      • Ongoing lawsuits seek to tear down the foundational elements of college sports that distinguish it from professional sports and protect non-revenue sports, such as that student-athletes are different than professional employees and that there are limits on how many seasons student-athletes can play.
    • The lack of enforceable rules has turned what were supposed to be legitimate, third-party NIL opportunities for players into pay-for-play bidding wars amongst university boosters, with some universities and their outside supporters reportedly spending more than $50 million per year on fielding rosters, mostly for the revenue-generating sports like football.  Football players on one team will receive $35-40 million in 2025 alone. 
    • Given these enormous, escalating demands on resources to compete in the revenue-generating sports, there are serious concerns regarding the future of non-revenue sports, women’s sports, and Olympic sports, as private-donor money is increasingly concentrated in these third-party, pay-for-play deals.  This dynamic also reduces competition and parity by creating an oligarchy of teams that can buy the best players—including the best players from less-wealthy programs at the end of each season, given the lack of restrictions on transferring teams each year.
    • Over 30 states have passed conflicting NIL laws, leading to a race-to-the-bottom that risks exploiting student-athletes and creating competitive imbalances among universities.
    • Without Federal action to restore order, ongoing lawsuits and a patchwork of state NIL laws risk exploiting student-athletes and eroding the opportunities provided by collegiate sports.

    PROMOTING A LEGACY OF ATHLETIC EXCELLENCE: This Executive Order builds on President Trump’s longstanding commitment to showcasing American greatness through sports and recognition of its value in forging American leaders and culture.

    • President Trump signed an Executive Order to keep men out of women’s sports, ensuring equal opportunities for women in sports.
    • President Trump played a pivotal role in securing the United States’ bid for the 2028 Summer Olympics in Los Angeles and the United States’ bid for the 2026 FIFA World Cup.
    • President Trump has attended countless sporting events and hosted numerous teams at the White House.

    MIL OSI USA News –

  • MIL-OSI Australia: Backing Australia’s tourism, hospitality and travel sectors

    Source: Australian Attorney General’s Agencies

    Australia’s Tourism, Hospitality and Travel industries have a powerful new tool to attract, retain and train workers with the launch of eeger.

    The Albanese Labor Government, working in partnership with Accommodation Australia, is proud to launch this government-funded, industry-led national careers and training platform.

    Australia’s Tourism, Hospitality and Travel industries help put Australia on the map, with the workforce that make up the industry becoming the public face of our world class experiences, accommodation and food offerings.

    With workforce demand in the industry expected to grow by nearly 150,000 by 2033, eeger will go a long way to ensuring the future sustainability of Australia’s tourism, hospitality and travel sectors.

    The visitor economy is vital to Australia. It supports over 706,000 jobs – that’s one in every 23 jobs across the nation. It underpins more than 360,000 businesses, from hotels to tour operators, cafes to cultural centres – these are businesses that keep our communities vibrant and connected.

    eeger brings together job vacancies, training programs and career development resources into one, easy-to-use, digital platform, connecting jobseekers, employers and educators across these rapidly growing sectors.

    This groundbreaking initiative will tackle long-standing workforce challenges for the sector, helping to build a stronger, more resilient visitor economy.

    eeger was made possible by a $10 million grant from the Albanese Labor Government to strengthen the country’s visitor economy and secure the skilled workforce it needs for the future.

    eeger isn’t just a job board. It brings together job opportunities, training programs and career development in one place, making it easier for Australians to enter and grow within these vital industries.

    Quotes attributable to the Minister for Trade and Tourism Don Farrell:

    “The launch of eeger marks a pivotal moment for the industry, offering a national perspective for tourism, travel and hospitality job seekers to find the right opportunities and for employers to access the skilled workforce they need.

    “The Albanese Labor Government is proud to support this innovative platform, which will help rebuild and future-proof Australia’s visitor economy.

    “My first job was in tourism, and I know firsthand how magnificent this industry is to be a part of. I encourage businesses and jobseekers to sign up and make the most of this innovative platform and join this vibrant and important sector.”

    General Manager of eeger, Emilie Howe:

    “eeger is more than a job platform – it’s built by industry, for industry. It’s a unique solution that centralises career, job and training information for our workforce needs – the first of its kind on a national scale.

    “We encourage all businesses in Tourism, Hospitality and Travel, no matter the size, to sign up and take advantage of the free eeger platform.”

    Quotes attributable to Accommodation Australia CEO, James Goodwin:

    “We’re proud to have worked with so many sectors to develop such an innovative platform that responds exactly to what the industry needs.”

    MIL OSI News –

  • MIL-OSI: Provident Financial Services, Inc. Declares Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    ISELIN, N.J., July 24, 2025 (GLOBE NEWSWIRE) — Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) Board of Directors declared a quarterly cash dividend of $0.24 per common share payable on August 29, 2025 to stockholders of record as of the close of business on August 15, 2025.

    About the Company

    Provident Financial Services, Inc. is the holding company for Provident Bank, a community-oriented bank offering “Commitment you can count on” since 1839. Provident Bank provides a comprehensive array of financial products and services through its network of branches throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc.

    SOURCE: Provident Financial Services, Inc.
    CONTACT: Investor Relations, 1-732-590-9300
    Web Site: http://www.Provident.Bank

    The MIL Network –

  • MIL-OSI: eSignatureGuarantee.com, An Online Medallion Guarantee Verification Platform, Acquired by Entrepreneur Jess Heron

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — via IBN — eSignature Guarantee, a trusted online medallion stamp verification solution platform that simplified a traditionally complex financial process, has been acquired by entrepreneur and operator Jess Heron.

    Since its launch, eSignatureGuarantee.com has been a valued resource for tens of thousands of shareholders and investors across the country who need a compliant and more convenient way to get things done. As banks pulled back from branch-based services, the platform filled the gap with a digital approach that made things faster, easier, and accessible from anywhere.

    For co-founder Seth Farbman, this was more than another exit: “One of the most important things I look for when selling a company is identifying someone who sees the value in what has already been built and who is ready to carry it forward with the same care. There is a certain connection to an idea when you take it from seed to sale. The goal is always to make sure it reaches its full potential and that the client audience is taken care of going forward. Jess Heron is the right person for this next chapter.”

    Jess Heron brings deep experience in scaling platforms and building customer-first technology. He said: “We see incredible upside and opportunity to extend the solution across new use cases, while continuing to serve shareholders, trusts, funds and corporate holders who depends on a trusted digital medallion verification experience. I am excited for what comes next.”

    Yoel Goldfeder added: “We are proud that eSignature Guarantee succeeded by integrating legal integrity and securities compliance with practical utility, offering a solution that met the standards of the industry while simplifying the experience for those it served.”

    With this acquisition, the eSignatureGuarantee.com platform will continue to operate without interruption, while the new leadership team explores new integrations and expanded service offerings to further simplify the medallion guarantee process. Financial terms of the deal were not disclosed.

    For those looking to use the service, feel free to visit www.eSignatureGuarantee.com.

    About eSignature Guarantee

    eSignatureGuarantee.com is a secure, online platform that offers Medallion Signature Guarantees for individual and institutional shareholders. Since its founding, the platform has served thousands of users who required fast, compliant, and remote solutions for financial transactions that traditionally required in-person banking services.

    Contact:

    info@esignatureguarantee.com

    Wire Service Contact:
    IBN
    Austin, Texas
    www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network –

  • MIL-OSI: Credit Acceptance Announces Timing of Second Quarter 2025 Earnings Release and Webcast

    Source: GlobeNewswire (MIL-OSI)

    Southfield, Michigan, July 24, 2025 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our second quarter 2025 earnings on Thursday, July 31, 2025, after the market closes. A webcast is scheduled for Thursday, July 31, 2025, at 5:00 p.m. Eastern Time to discuss second quarter 2025 earnings.  

    Conference Call and Webcast Information:
    Date: Thursday, July 31, 2025
    Time: 5:00 p.m. Eastern Time

    Telephone Access: 

    Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by telephone, you must pre-register using the following link:

    https://register.vevent.com/register/BIdf2e1302737241fd92014eec2b76a62f

    or through the link posted on the “Investor Relations” section of our website at ir.creditacceptance.com. Upon registering you will be provided with the dial-in number and a unique PIN to access the webcast by telephone.

    Webcast Access:
    The webcast can also be accessed live by visiting the “Investor Relations” section of our website at ir.creditacceptance.com.

    Additionally, a replay and transcript of the webcast will be archived in the “Investor Relations” section of our website.

    Description of Credit Acceptance Corporation

    We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing.

    Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit creditacceptance.com.

    The MIL Network –

  • MIL-OSI: Teads to Release Second Quarter 2025 Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Teads Holding Co. (NASDAQ: TEAD), announced today that the company will release its second quarter 2025 results before the market opens on Thursday, August 7, 2025, followed by a conference call at 8:30 a.m. (Eastern Time) that same day to discuss the company’s results and business outlook.

    The conference call can be accessed live over the phone by dialing 1-888-437-3179 or for international callers, 1-862-298-0702. A replay will be available two hours after the call and can be accessed by dialing 1-877-660-6853, or for international callers, 1-201-612-7415. The passcode for the live call and replay is 13754497. The replay will be available until August 21, 2025.

    Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company’s website at https://investors.teads.com/. The online replay will be available for a limited time shortly following the call.

    About Teads

    Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes for branding and performance objectives, Teads ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 30+ countries

    Media Contact

    press@teads.com

    Investor Relations Contact

    IR@teads.com

    (332) 205-8999

    The MIL Network –

  • MIL-OSI: Definitive Healthcare Announces Timing of Its Second Quarter 2025 Financial Results Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    FRAMINGHAM, Mass., July 24, 2025 (GLOBE NEWSWIRE) — Definitive Healthcare Corp. (“Definitive Healthcare”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced that it will report financial results for its second quarter ended June 30, 2025, on Thursday, August 7, 2025 after market close. The company will host a conference call and webcast at 5:00 PM (ET) / 2:00 PM (PT) to discuss the company’s financial results.

    A live audio webcast of the event will be available on the Definitive Healthcare’s Investor Relations website at https://ir.definitivehc.com/.

    A live dial-in will be available at 877-358-7298 (domestic) or +1-848-488-9244 (international). Shortly after the conclusion of the call, a replay of this conference call will be available through September 6, 2025 at 800-645-7964 or 757-849-6722. The replay passcode is 1765#.

    About Definitive Healthcare
    At Definitive Healthcare, our mission is to transform data, analytics, and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities, and people, so they can shape tomorrow’s healthcare industry. Our SaaS products and solutions create new paths to commercial success in the healthcare market, so companies can identify where to go next. Learn more at definitivehc.com.

    Media Contact:
    Bethany Swackhamer
    bswackhamer@definitivehc.com

    Investor Relations Contact:
    Brian Denyeau
    ICR for Definitive Healthcare
    brian.denyeau@icrinc.com

    Source: Definitive Healthcare Corp.

    The MIL Network –

  • MIL-OSI: ACM Research Announces Major Upgrades to Its Ultra C wb Wet Bench Cleaning Tool for Advanced Chip Manufacturing

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 24, 2025 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications, today announced major upgrades to its Ultra C wb cleaning tool. These new enhancements are designed to meet the demanding technical requirements of advanced-node manufacturing processes.

    The upgraded Ultra C wb features a patent-pending nitrogen (N2) bubbling technology to solve poor wet etching uniformity and by-product regrowth. These issues frequently appear in conventional wet bench processes of phosphoric acid in high aspect ratio trenches and via structures in advanced-node processes. ACM’s patent-pending N2 bubbling technique enhances the transport efficiency of phosphoric acid and promotes the uniformity of temperature, concentration and flow velocity in wet etching bath. The improved mass transfer efficiency of the wet etching process avoids by-product accumulation in wafer micro-structures to prevent regrowth. This technology holds significant application potential in the wet etching process for manufacturing 3D DRAM, 3D logic and 500+ layer 3D NAND devices​​.

    “With performance a top priority, ACM has enhanced its Ultra C wb tool to deliver improved results by integrating the N2 bubbling technique,” said ACM’s President and Chief Executive Officer, Dr. David Wang. “Batch processing remains a vital component of the wet processing market, offering advantages such as cost-effectiveness, increased efficiency, and lower chemical consumption compared to single-wafer wet cleaning.”

    New Features and Benefits of the Upgraded Ultra C wb Tool:

    • Enhanced Etching Uniformity: Compared to conventional batch processes for wet cleaning, the Ultra C wb platform is equipped with the N2 bubbling technique, improving within-wafer and wafer-to-wafer wet etching uniformity by more than 50%.
    • Enhanced Particle Removal Performance: The Ultra C wb platform’s advanced cleaning capabilities have been proven in organic residue removal of special phosphoric acid additives in advanced-node processes.
    • Expanded Process Capabilities: The upgraded bench module is qualified for three layers of advanced-node processes, including: stack silicon nitride removal, channel hole polysilicon etch back and gate line tungsten recess. It is compatible with a variety of chemical solutions, such as phosphoric acid, H4 etchant (a mixed acid solution typically used for metal film etching), tetramethylammonium hydroxide (TMAH), standard clean 1 (SC1) and silicon-germanium (SiGe) etching solution, etc. Additional layers and applications are currently in development at the customer site.
    • Proprietary Design: The nitrogen bubbling technology designs in the patent application generate large-size bubbles with good uniformity, while the bubble density can be precisely controlled. The N₂ bubbling core technology can be applied to ACM’s Ultra C Tahoe (single-wafer and bench combined cleaning tool) platform, effectively addressing customers’ future process requirements.

    Forward-Looking Statements

    Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

    About ACM Research, Inc.

    ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

    © ACM Research, Inc. ULTRA C and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean ACM will not assert, to the fullest extent under applicable law, its rights to such trademarks. All other trademarks are the property of their respective owners.

       
    Media Contact: Company Contacts:
    Alyssa Lundeen USA
    Kiterocket Robert Metter
    +1 218.398.0776 +1 503.367.9753
    alundeen@kiterocket.com  
      China
      Xi Wang
      ACM Research (Shanghai), Inc.
      +86 21 50808868
       
      Korea
      ACM Research (Korea), Inc.
      +82 70-41006699
       
      Taiwan
      David Chang
      +886 921999884
       
      Singapore
      Adrian Ong
      +65 8813-1107
       

    The MIL Network –

  • MIL-OSI: Lake Shore Bancorp, Inc. Declares Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUNKIRK, N.Y., July 24, 2025 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (“Lake Shore Bancorp”) (NASDAQ: LSBK), the holding company for Lake Shore Bank (the “Bank”), announced today that the Board of Directors declared a cash dividend of $0.09 per share on its outstanding common stock on July 23, 2025. The dividend is expected to be paid on August 13, 2025 to stockholders of record as of August 4, 2025.

    About Lake Shore

    Lake Shore Bancorp is the holding company of Lake Shore Bank, a New York chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. Lake Shore Bancorp’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about Lake Shore Bancorp is available at www.mylsbank.com.

    Safe-Harbor

    This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about Lake Shore Federal Bancorp’s, Lake Shore Bancorp, Inc.’s (collectively, the “Company”) and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, tariffs, unanticipated changes in our liquidity position, climate change, geopolitical conflicts, public health issues, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, dividend policy changes and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.

    Source: Lake Shore Bancorp, Inc.
    Category: Financial

    Investor Relations/Media Contact
    Kim C. Liddell
    President, CEO, and Director
    Lake Shore Bancorp, Inc.
    31 East Fourth Street
    Dunkirk, New York 14048
    (716) 366-4070 ext. 1012

    The MIL Network –

  • MIL-OSI: Gouverneur Bancorp, Inc. Approves Second Stock Repurchase Program

    Source: GlobeNewswire (MIL-OSI)

    GOUVERNEUR, N.Y., July 24, 2025 (GLOBE NEWSWIRE) — Gouverneur Bancorp, Inc. (OTCQB Marketplace: GOVB) (the “Company”), the holding company for Gouverneur Savings and Loan Association, announced today that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to 52,778 shares, or 5%, of the Company’s outstanding common stock. Stock repurchases will be conducted through open market purchases, which will include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time depending on market conditions and other factors. The Company’s new stock repurchase program will terminate upon the completion of the purchase of 52,778 shares or on July 24, 2026 if not all shares have been purchased by that date.

    On December 11, 2024, the Company announced its first stock repurchase program, which authorized the purchase of up to 55,356 shares. Under this previously announced program, 51,569 shares of common stock have been repurchased at a cost of $634,000, or $12.29 per share. As of July 23, 2025, there are 3,787 shares remaining to be repurchased under this existing program.

    About Gouverneur Bancorp, Inc.

    Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, which is a New York chartered savings and loan association founded in 1892 that offers deposit and loan services for businesses, families and individuals. At June 30, 2025, the Company had total assets of $196.7 million, total deposits of $159.4 million and total stockholders’ equity of $31.4 million.

    Forward-Looking Statements

    This press release may contain forward-looking statements, which can be identified by the use of words such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, among others, the following: changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows and our ability to effectively manage liquidity; competition; demand for financial services in our market area; changes in real estate market values in our market area; changes in relevant accounting principles and guidelines; our ability to attract and retain key employees; our ability to maintain the security of our data processing and information technology systems; and that the Company may not be successful in the implementation of its business strategy. Additionally, other risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the year ended September 30, 2024 and other reports the Company files with the SEC, which are available through the SEC’s EDGAR website located at www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected.

    Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

    CONTACT: Charles C. Van Vleet, Jr.
      Interim President and Chief Executive Officer
      (315) 287-2600

    The MIL Network –

  • MIL-OSI: Gouverneur Bancorp, Inc. Approves Second Stock Repurchase Program

    Source: GlobeNewswire (MIL-OSI)

    GOUVERNEUR, N.Y., July 24, 2025 (GLOBE NEWSWIRE) — Gouverneur Bancorp, Inc. (OTCQB Marketplace: GOVB) (the “Company”), the holding company for Gouverneur Savings and Loan Association, announced today that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to 52,778 shares, or 5%, of the Company’s outstanding common stock. Stock repurchases will be conducted through open market purchases, which will include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time depending on market conditions and other factors. The Company’s new stock repurchase program will terminate upon the completion of the purchase of 52,778 shares or on July 24, 2026 if not all shares have been purchased by that date.

    On December 11, 2024, the Company announced its first stock repurchase program, which authorized the purchase of up to 55,356 shares. Under this previously announced program, 51,569 shares of common stock have been repurchased at a cost of $634,000, or $12.29 per share. As of July 23, 2025, there are 3,787 shares remaining to be repurchased under this existing program.

    About Gouverneur Bancorp, Inc.

    Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, which is a New York chartered savings and loan association founded in 1892 that offers deposit and loan services for businesses, families and individuals. At June 30, 2025, the Company had total assets of $196.7 million, total deposits of $159.4 million and total stockholders’ equity of $31.4 million.

    Forward-Looking Statements

    This press release may contain forward-looking statements, which can be identified by the use of words such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, among others, the following: changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows and our ability to effectively manage liquidity; competition; demand for financial services in our market area; changes in real estate market values in our market area; changes in relevant accounting principles and guidelines; our ability to attract and retain key employees; our ability to maintain the security of our data processing and information technology systems; and that the Company may not be successful in the implementation of its business strategy. Additionally, other risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the year ended September 30, 2024 and other reports the Company files with the SEC, which are available through the SEC’s EDGAR website located at www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected.

    Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

    CONTACT: Charles C. Van Vleet, Jr.
      Interim President and Chief Executive Officer
      (315) 287-2600

    The MIL Network –

  • MIL-OSI: Financial Institutions, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., July 24, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company,” “we” or “us”), parent company of Five Star Bank (the “Bank”) and Courier Capital, LLC (“Courier Capital”), today reported financial and operational results for the second quarter ended June 30, 2025.

    The Company reported net income of $17.5 million in the second quarter of 2025, compared to $16.9 million in the first quarter of 2025 and $25.6 million in the second quarter of 2024. After preferred dividends, net income available to common shareholders was $17.2 million, or $0.85 per diluted share, in the second quarter of 2025, compared to $16.5 million, or $0.81 per diluted share, in the first quarter of 2025, and $25.3 million, or $1.62 per diluted share, in the second quarter of 2024. The Company recorded a provision for credit losses of $2.6 million in the current quarter, compared to $2.9 million in the linked quarter and $2.0 million in the prior year quarter.

    Second Quarter 2025 Highlights:

    • Net interest margin of 3.49% for second quarter of 2025 was up 14 and 62 basis points from the linked and year-ago quarters, respectively, while net interest income of $49.1 million for second quarter of 2025 increased $2.3 million, or 4.8%, from the first quarter of 2025 and $7.9 million, or 19.2%, from the second quarter of 2024.
    • Noninterest income was $10.6 million in the second quarter of 2025, compared to $10.4 million in the linked quarter and $24.0 million in the year-ago quarter, when results benefited from a $13.5 million pre-tax gain associated with the sale of the Company’s insurance business.
    • Total loans were $4.54 billion at June 30, 2025, reflecting a decrease of $17.3 million, or 0.4%, from March 31, 2025, driven by a decrease in our consumer indirect lending portfolio as pay-downs exceeded originations, and an increase of $74.5 million, or 1.7%, from one year prior.
    • Total deposits were $5.16 billion at June 30, 2025, down $216.9 million, or 4.0%, from March 31, 2025, driven by both seasonal public deposit outflows and the previously announced wind-down of the Company’s Banking-as-a-Service, or BaaS, offering, and relatively flat compared to one year prior.
    • Nonperforming assets to total assets were 0.53% at June 30, 2025, down from 0.63% at the linked quarter-end and up from 0.41% one year prior.

    “Second quarter 2025 financial results were highlighted by continued margin expansion, increased net interest income and durable noninterest revenues, which allowed us to deliver 4% growth in net income available to common shareholders from the linked first quarter,” said President and Chief Executive Officer Martin K. Birmingham. “Profitability continues to be a paramount focus, and we were pleased to maintain an efficiency ratio below 60% and report solid annualized return on average assets and return on average equity of 1.13% and 11.78%, respectively, for the most recent quarter.

    “Deposit balances reflect typical seasonality within our public deposit portfolio and total loans were relatively flat with the end of the first quarter, as commercial business lending growth was more than offset by a reduction in consumer indirect balances. Given our strong first quarter loan production and existing pipelines, we continue to expect low single-digit full year loan growth that aligns with our credit-disciplined philosophy.”

    Chief Financial Officer and Treasurer W. Jack Plants II added, “Our results continue to benefit from our team’s focus on prudent balance sheet stewardship through redeployment of cash flows into higher yielding assets, active investment portfolio management and our ability to effectively reprice deposits, supporting a six basis point reduction in our overall cost of funds. Expenses in the second quarter were somewhat elevated, in part reflecting timing of certain expenses and some higher costs that we expect to be nonrecurring, and we will remain intently focused on expense management through the coming quarters to support positive operating leverage in 2025.”

    Net Interest Income and Net Interest Margin

    Net interest income was $49.1 million for the second quarter of 2025, an increase of $2.3 million from the first quarter of 2025, and an increase of $7.9 million from the second quarter of 2024.

    Average interest-earning assets for the current quarter of $5.65 billion were flat with the first quarter of 2025, as a $46.9 million increase in average loans was offset by a $32.7 million decrease in the average balance of Federal Reserve interest-earning cash and a $14.0 million decrease in the average balance of investment securities. Average interest-earning assets decreased $114.5 million from the second quarter of 2024, as a $123.2 million decrease in the average balance of investment securities and a $95.1 million decrease in the average balance of Federal Reserve interest-earning cash were partially offset by a $103.8 million increase in average loans.

    Average interest-bearing liabilities for the current quarter were $4.52 billion, reflecting an increase of $11.6 million from the linked quarter and a decrease of $29.8 million from the year-ago quarter. The increase from the first quarter of 2025 was primarily due to a $66.4 million increase in average time deposits that was partially offset by a $23.1 million decrease in average savings and money market deposits, a $14.2 million decrease in average interest-bearing demand deposits, a $9.1 million decrease in average short-term borrowings, and an $8.4 million decrease in average long-term borrowings. The year-over-year decrease was due to an $83.4 million decrease in average savings and money market deposits, a $54.0 million decrease in average short-term borrowings, a $10.0 million decrease in average interest-bearing demand deposits, and an $8.2 million decrease in average long-term borrowings, partially offset by a $125.7 million increase in average time deposits. The continued outflow of BaaS-related deposits, following the Company’s September 2024 announcement that it would wind-down its BaaS platform, was the primary driver of the reduction in average savings and money market deposits from the linked and year-ago periods.

    Net interest margin was 3.49% in the current quarter as compared to 3.35% in the first quarter of 2025, and 2.87% in the second quarter of 2024. Expansion from the linked quarter was due to increases in the average yields of both investment securities and loans, as well as lower average cost of interest-bearing liabilities, reflecting repricing of non-public and reciprocal deposits. Year-over-year margin expansion was driven by an increase in the average yield on investment securities, following the previously disclosed restructuring of the available-for-sale securities portfolio in December 2024, which supported an increase in the average yield on interest-earning assets.

    Noninterest Income

    The Company reported noninterest income of $10.6 million for the second quarter of 2025, compared to $10.4 million in the first quarter of 2025 and $24.0 million in the second quarter of 2024.

    • The Company’s sale of its former insurance subsidiary generated a net gain of $13.5 million in the second quarter of 2024.
    • Investment advisory income of $2.9 million was $148 thousand higher than the first quarter of 2025 and up $106 thousand from the second quarter of 2024.
    • Income from company-owned life insurance (“COLI”) of $3.0 million was $188 thousand higher than the first quarter of 2025 and $1.6 million higher than the second quarter of 2024, due to the previously disclosed restructuring of a portion of the Company’s COLI portfolio into higher-yielding separate account policies in January 2025.
    • Income from investments in limited partnerships of $307 thousand was $108 thousand lower than the first quarter of 2025 and $496 thousand lower than the second quarter of 2024. The Company has made several investments in limited partnerships, primarily small business investment companies, and accounts for these investments under the equity method. Income from these investments fluctuates based on the maturity and performance of the underlying investments.
    • Other noninterest income of $1.3 million was $292 thousand lower than the linked quarter and $227 thousand lower than the year-ago quarter.

    Noninterest Expense

    Noninterest expense was $35.7 million in the second quarter of 2025, compared to $33.7 million in the first quarter of 2025, and $33.0 million in the second quarter of 2024.

    • Salaries and employee benefits expense of $18.1 million was $1.2 million higher than the first quarter of 2025 and $2.3 million higher than the second quarter of 2024, reflecting an increase in health insurance benefits due to higher medical claims than in the linked quarter, while the increase from the prior year quarter was primarily due to annual merit increases.
    • Occupancy and equipment expense of $4.0 million reflects increases of $392 thousand and $534 thousand from the linked and year-ago quarters, respectively. The linked quarter increase was due in part to timing given a change in facilities maintenance service vendors, as well as costs associated with an ongoing ATM conversion, while the year-over-year variance was due in part to the ATM conversion and upgrade project.
    • Professional services expenses of $1.5 million were $240 thousand lower than the first quarter of 2025 and $343 thousand lower than the second quarter of 2024. The linked quarter variance was primarily due to the timing of audit related expenses, while the year-over-year variance was primarily attributable to legal expenses incurred in the second quarter of 2024 related to the Company’s previously disclosed deposit-related fraud event.
    • Computer and data processing expense of $5.9 million was $392 thousand higher than the first quarter of 2025 and $537 thousand higher than the second quarter of 2024. Both the linked quarter and year-over-year increases were driven by the timing of expenses for in-process technology enhancement and upgrade initiatives.
    • The Company recorded deposit-related charged-off items of $233 thousand for the current quarter, compared to charged-off recoveries of $294 thousand in the first quarter of 2025 and charged-off items of $398 thousand in the second quarter of 2024, with the linked quarter variance primarily driven by insurance proceeds received in the first quarter of 2025 related to a past commercial deposit charged-off item.
    • Other expense of $3.6 million was down $179 thousand from the linked quarter and down $381 thousand from the year-ago quarter, with the year-over-year variance primarily due to higher interest rate swap collateral charges in the second quarter of 2024.

    Income Taxes

    Income tax expense was $4.0 million for the second quarter of 2025, compared to $3.7 million in the first quarter of 2025 and $4.5 million in the second quarter of 2024. The Company also recognized federal and state tax benefits related to tax credit investments placed in service and/or amortized during the second quarter of 2025, first quarter of 2025, and second quarter of 2024, resulting in income tax expense reductions of $1.1 million, $1.1 million, and $1.3 million, respectively.

    The effective tax rate was 18.4% for the second quarter of 2025, 18.2% for the first quarter of 2025, and 15.0% for the second quarter of 2024. The effective tax rate fluctuates on a quarterly basis primarily due to the level of pre-tax earnings and may differ from statutory rates because of interest income from tax-exempt securities, earnings on COLI, the tax impact of the COLI repositioning, and the impact of tax credit investments.

    Balance Sheet and Capital Management

    Total assets were $6.14 billion at June 30, 2025, down $196.7 million from March 31, 2025, and flat with June 30, 2024.

    Investment securities were $1.01 billion at June 30, 2025, down $31.8 million from March 31, 2025, and flat with June 30, 2024.

    Total loans were $4.54 billion at June 30, 2025, a decrease of $17.3 million, or 0.4%, from March 31, 2025, and an increase of $74.5 million, or 1.7%, from June 30, 2024.

    • Commercial business loans totaled $726.2 million, up $17.1 million, or 2.4%, from March 31, 2025, and up $12.3 million, or 1.7%, from June 30, 2024.
    • Commercial mortgage loans totaled $2.22 billion, a decline of $13.1 million, or 0.6%, from March 31, 2025, and an increase of $129.3 million, or 6.2%, from June 30, 2024.
    • Residential real estate loans totaled $647.2 million, up $3.2 million, or 0.5%, from March 31, 2025, and down $470 thousand, or 0.1%, from June 30, 2024.
    • Consumer indirect loans totaled $833.5 million, down $19.7 million, or 2.3%, from March 31, 2025, and down $61.1 million, or 6.8%, from June 30, 2024.

    Total deposits were $5.16 billion at June 30, 2025, down $216.9 million, or 4.0%, from March 31, 2025, and up $22.7 million, or 0.4%, from June 30, 2024. The decrease from March 31, 2025 was primarily due to seasonally lower public deposit balances in addition to the outflow of BaaS-related deposits. The modest increase from June 30, 2024 reflected a higher level of brokered deposits, which were utilized to offset the anticipated reduction in BaaS-related deposits, as well as lower reciprocal deposit balances. The Company had approximately $7 million in BaaS-related deposits at June 30, 2025, compared to approximately $55 million at March 31, 2025 and approximately $108 million at June 30, 2024. Public deposit balances represented 21% of total deposits at June 30, 2025, 24% at March 31, 2025, and 20% at June 30, 2024.

    Short-term borrowings were $101.0 million at June 30, 2025, compared to $55.0 million at March 31, 2025, and $202.0 million at June 30, 2024. Short-term borrowings and brokered deposits have historically been utilized to manage the seasonality of public deposits.

    Shareholders’ equity was $601.7 million at June 30, 2025, compared to $589.9 million at March 31, 2025, and $467.7 million at June 30, 2024. The linked quarter period-end increase was due to net income, net of dividends, retained, while the year-over-year period end increase was primarily driven by additional paid-in-capital resulting from the common stock capital raise executed in the fourth quarter of 2024 and a decrease in accumulated other comprehensive loss between period ends following the investment securities restructuring in the fourth quarter of 2024.

    Common book value per share was $29.03 at June 30, 2025, an increase of $0.55, or 1.9%, from $28.48 at March 31, 2025, and a decrease of $0.08, or 0.3%, from $29.11 at June 30, 2024. Tangible common book value per share(1) was $26.02 at June 30, 2025, an increase of $0.56, or 2.2%, from $25.46 at March 31, 2025, and an increase of $0.85, or 3.4%, from $25.17 at June 30, 2024. The common equity to assets ratio was 9.51% at June 30, 2025, compared to 9.03% at March 31, 2025, and 7.34% at June 30, 2024. Tangible common equity to tangible assets(1), or the TCE ratio, was 8.61%, 8.15% and 6.41% at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. The year-over-year increases in both ratios were attributable to the additional capital raised in the fourth quarter of 2024 and the decrease in accumulated other comprehensive loss as a result of the investment securities restructuring in the fourth quarter of 2024.

    During the second quarter of 2025, the Company declared a common stock dividend of $0.31 per common share, consistent with the linked quarter and reflecting an increase of $0.01, or 3.3%, over the year-ago quarter. The dividend returned more than 36% of second quarter net income to common shareholders.

    The Company’s regulatory capital ratios at June 30, 2025 continued to exceed all regulatory capital requirements to be considered well capitalized.

    • Leverage Ratio was 9.45% compared to 9.24% and 8.61% at March 31, 2025, and June 30, 2024, respectively.
    • Common Equity Tier 1 Capital Ratio was 10.84% compared to 10.38% and 10.03% at March 31, 2025, and June 30, 2024, respectively.
    • Tier 1 Capital Ratio was 11.17% compared to 10.71% and 10.36% at March 31, 2025, and June 30, 2024, respectively.
    • Total Risk-Based Capital Ratio was 13.27% compared to 13.09% and 12.65% at March 31, 2025, and June 30, 2024, respectively.

    As previously disclosed, in April 2025, the Company called $10.0 million of its $40.0 million of fixed-to-floating subordinated debt that was originally issued in April 2015. These notes initially bore interest at a fixed rate of 6.00% and began repricing on a quarterly basis at a rate equal to the then-current three-month term SOFR plus 4.20561% after the April 2025 call date. The Company currently expects to retain the remaining $30.0 million of April 2015 notes, as well as the separate $35.0 million of fixed-to-floating rate subordinated notes that were issued in October 2020, which currently bear interest at a fixed rate of 4.375%, and are set to reprice at a rate of the then-current three-month term SOFR plus 4.265% beginning in October 2025. The April 2015 notes are callable on a quarterly basis going forward and the October 2020 notes become callable beginning in October 2025. The Company will continue to evaluate options relative to its outstanding subordinated debt, which may include redemption in part or in full, as well as replacing or refinancing the facilities.

    Credit Quality

    Non-performing loans were $32.4 million, or 0.72% of total loans, at June 30, 2025, as compared to $40.0 million, or 0.88% of total loans, at March 31, 2025, and $25.2 million, or 0.57% of total loans, at June 30, 2024. The decrease from March 31, 2025 reflects a reduction of approximately $3.7 million in non-performing loans associated with the foreclosure of a participated loan secured by real estate, as well as a $1.9 million partial charge-off of a credit facility for which a specific reserve was in place. Both the aforementioned foreclosed participated loan and the partially charged-off credit facility relate to a previously disclosed commercial business relationship that was placed on nonaccrual status in the fourth quarter of 2023. The increase in non-performing loans from June 30, 2024 was primarily driven by one commercial loan relationship that was placed on nonaccrual status during the third quarter of 2024. Net charge-offs were $4.1 million, representing 0.36% of average loans on an annualized basis, for the current quarter, as compared to $2.4 million, or an annualized 0.21% of average loans, in the first quarter of 2025 and $1.1 million, or an annualized 0.10%, in the second quarter of 2024.

    At June 30, 2025, the allowance for credit losses on loans to total loans ratio was 1.04%, compared to 1.08% at March 31, 2025 and 0.99% at June 30, 2024.

    Provision for credit losses was $2.6 million in the current quarter, compared to $2.9 million in the linked quarter and $2.0 million in the prior year quarter. Provision for credit losses on loans was $2.4 million in the current quarter, compared to $3.3 million in the first quarter of 2025, and $2.0 million in the second quarter of 2024. The allowance for unfunded commitments, also included in provision for credit losses as required by the current expected credit loss standard (“CECL”), totaled $179 thousand in the second quarter of 2025, $364 thousand in the first quarter of 2025, and $43 thousand in the second quarter of 2024. The provision for credit losses for the second quarter of 2025 was driven by a combination of factors, including improvement in the forecasted loss rate for pooled loans and a reduction in specific reserves, partly offset by higher net charge-offs.

    The Company has remained strategically focused on the importance of credit discipline, allocating resources to credit and risk management functions as the loan portfolio has grown. The ratio of allowance for credit losses on loans to non-performing loans was 146% at June 30, 2025, 122% at March 31, 2025, and 174% at June 30, 2024, with the improvement from the end of the linked quarter reflective of the decrease in nonperforming loans reported at June 30, 2025.

    Subsequent Events

    The Company is required, under generally accepted accounting principles (“GAAP”), to evaluate subsequent events through the filing of its consolidated financial statements for the quarter ended June 30, 2025, on Form 10-Q. As a result, the Company will continue to evaluate the impact of any subsequent events on critical accounting assumptions and estimates made as of June 30, 2025, and will adjust amounts preliminarily reported, if necessary.

    Conference Call

    The Company will host an earnings conference call and audio webcast on July 25, 2025 at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. The live webcast will be available in listen-only mode on the Company’s website at www.FISI-investors.com. Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 652423. The webcast replay will be available on the Company’s website for at least 30 days.

    About Financial Institutions, Inc.

    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.1 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    Non-GAAP Financial Information

    In addition to results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to GAAP measures is included in Appendix A to this document.

    The Company believes that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, performance trends and financial position. Our management uses these measures for internal planning and forecasting purposes and we believe that our presentation and discussion, together with the accompanying reconciliations, allows investors, security analysts and other interested parties to view our performance and the factors and trends affecting our business in a manner similar to management. These non-GAAP measures should not be considered a substitute for GAAP measures, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure to evaluate the Company. Non-GAAP financial measures have inherent limitations, are not uniformly applied and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Safe Harbor Statement

    This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “may,” “plan,” “preliminary,” “should,” “target” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; inflation; tariffs; changes in deposit flows and the cost and availability of funds; fraudulent deposit activity; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC, could adversely affect us and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

    (1) See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.

    For additional information contact:
    Kate Croft
    Director of Investor Relations and Corporate Communications
    (716) 817-5159
    klcroft@five-starbank.com

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

      2025     2024  
    SELECTED BALANCE SHEET DATA: June 30,     March 31,     December 31,     September 30,     June 30,  
    Cash and cash equivalents $ 93,034     $ 167,352     $ 87,321     $ 249,569     $ 146,347  
    Investment securities:                            
    Available for sale   916,149       926,992       911,105       886,816       871,635  
    Held-to-maturity, net   92,121       113,105       116,001       121,279       128,271  
    Total investment securities   1,008,270       1,040,097       1,027,106       1,008,095       999,906  
    Loans held for sale   2,356       387       2,280       2,495       2,099  
    Loans:                            
    Commercial business   726,218       709,101       665,321       654,519       713,947  
    Commercial mortgage–construction   536,552       566,359       582,619       533,506       518,013  
    Commercial mortgage–multifamily   496,223       475,867       470,954       467,527       463,171  
    Commercial mortgage–non-owner occupied   873,207       899,679       857,987       814,392       814,953  
    Commercial mortgage–owner occupied   309,171       286,391       288,036       290,216       289,733  
    Residential real estate loans   647,205       643,983       650,206       648,241       647,675  
    Residential real estate lines   75,675       74,769       75,552       76,203       75,510  
    Consumer indirect   833,452       853,176       845,772       874,651       894,596  
    Other consumer   38,299       43,953       42,757       43,734       43,870  
    Total loans   4,536,002       4,553,278       4,479,204       4,402,989       4,461,468  
    Allowance for credit losses – loans   47,291       48,964       48,041       44,678       43,952  
    Total loans, net   4,488,711       4,504,314       4,431,163       4,358,311       4,417,516  
    Total interest-earning assets   5,614,008       5,733,743       5,602,570       5,666,972       5,709,148  
    Goodwill and other intangible assets, net   60,564       60,651       60,758       60,867       60,979  
    Total assets   6,143,766       6,340,492       6,117,085       6,156,317       6,131,772  
    Deposits:                            
    Noninterest-bearing demand   940,341       945,182       950,351       978,660       939,346  
    Interest-bearing demand   704,871       773,475       705,195       793,996       711,580  
    Savings and money market   1,898,302       2,033,323       1,904,013       2,027,181       2,007,256  
    Time deposits   1,612,500       1,620,930       1,545,172       1,506,764       1,475,139  
    Total deposits   5,156,014       5,372,910       5,104,731       5,306,601       5,133,321  
    Short-term borrowings   101,000       55,000       99,000       55,000       202,000  
    Long-term borrowings, net   114,960       124,917       124,842       124,765       124,687  
    Total interest-bearing liabilities   4,431,633       4,607,645       4,405,912       4,507,706       4,520,662  
    Shareholders’ equity   601,668       589,928       568,984       500,342       467,667  
    Common shareholders’ equity   584,383       572,643       551,699       483,050       450,375  
    Tangible common equity(1)   523,838       511,992       490,941       422,183       389,396  
    Accumulated other comprehensive loss $ (42,214 )   $ (41,995 )   $ (52,604 )   $ (102,029 )   $ (125,774 )
                                 
    Common shares outstanding   20,128       20,110       20,077       15,474       15,472  
    Treasury shares   572       590       623       625       627  
    CAPITAL RATIOS AND PER SHARE DATA:                            
    Leverage ratio   9.45 %     9.24 %     9.15 %     8.98 %     8.61 %
    Common equity Tier 1 capital ratio   10.84 %     10.38 %     10.54 %     10.28 %     10.03 %
    Tier 1 capital ratio   11.17 %     10.71 %     10.87 %     10.62 %     10.36 %
    Total risk-based capital ratio   13.27 %     13.09 %     13.25 %     12.95 %     12.65 %
    Common equity to assets   9.51 %     9.03 %     9.02 %     7.85 %     7.34 %
    Tangible common equity to tangible assets(1)   8.61 %     8.15 %     8.11 %     6.93 %     6.41 %
                                 
    Common book value per share $ 29.03     $ 28.48     $ 27.48     $ 31.22     $ 29.11  
    Tangible common book value per share(1) $ 26.02     $ 25.46     $ 24.45     $ 27.28     $ 25.17  
                                           
    1. See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    SELECTED STATEMENT OF OPERATIONS DATA: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Interest income $ 163,918     $ 157,201     $ 82,867     $ 81,051     $ 78,119     $ 77,911     $ 78,788  
    Interest expense   67,932       75,926       33,745       34,187       36,486       37,230       37,595  
    Net interest income   95,986       81,275       49,122       46,864       41,633       40,681       41,193  
    Provision (benefit) for credit losses   5,490       (3,415 )     2,562       2,928       6,461       3,104       2,041  
    Net interest income after provision (benefit) for credit losses   90,496       84,690       46,560       43,936       35,172       37,577       39,152  
    Noninterest income:                                        
    Service charges on deposits   2,141       2,056       1,089       1,052       1,074       1,103       979  
    Insurance income   6       2,138       3       3       3       3       4  
    Card interchange income   3,777       3,910       1,937       1,840       2,045       1,900       2,008  
    Investment advisory   5,622       5,361       2,885       2,737       2,555       2,797       2,779  
    Company owned life insurance   5,742       2,658       2,965       2,777       1,425       1,404       1,360  
    Investments in limited partnerships   722       1,145       307       415       837       400       803  
    Loan servicing   303       333       180       123       295       88       158  
    Income (loss) from derivative instruments, net   589       551       339       250       (37 )     212       377  
    Net gain on sale of loans held for sale   257       212       140       117       186       220       124  
    Net loss on investment securities   3       –       3       –       (100,055 )     –       –  
    Net gain (loss) on the sale of other assets   –       13,495       –       –       (19 )     138       13,508  
    Net (loss) gain on tax credit investments   (1,026 )     31       (512 )     (514 )     (636 )     (170 )     406  
    Other   2,854       3,025       1,281       1,573       1,291       1,345       1,508  
    Total noninterest income (loss)   20,990       34,915       10,617       10,373       (91,036 )     9,440       24,014  
    Noninterest expense:                                        
    Salaries and employee benefits   34,968       33,088       18,070       16,898       17,159       15,879       15,748  
    Occupancy and equipment   7,572       7,200       3,982       3,590       3,791       3,370       3,448  
    Professional services   3,142       4,166       1,451       1,691       1,571       1,965       1,794  
    Computer and data processing   11,366       10,728       5,879       5,487       6,608       5,353       5,342  
    Supplies and postage   1,081       912       503       578       504       519       437  
    FDIC assessments   2,859       2,641       1,392       1,467       1,551       1,092       1,346  
    Advertising and promotions   837       737       495       342       465       371       440  
    Amortization of intangibles   212       331       105       107       109       112       114  
    Provision for litigation settlement   –       –       –       –       23,022       –       –  
    Deposit-related charged-off items (recoveries) expense   (61 )     19,577       233       (294 )     354       410       398  
    Restructuring charges   68       –       –       68       35       –       –  
    Other   7,323       7,653       3,572       3,751       4,235       3,398       3,953  
    Total noninterest expense   69,367       87,033       35,682       33,685       59,404       32,469       33,020  
    Income (loss) before income taxes   42,119       32,572       21,495       20,624       (115,268 )     14,548       30,146  
    Income tax expense (benefit)   7,709       4,873       3,963       3,746       (32,457 )     1,082       4,517  
    Net income (loss)   34,410       27,699       17,532       16,878       (82,811 )     13,466       25,629  
    Preferred stock dividends   729       729       364       365       365       365       364  
    Net income (loss) available to common shareholders $ 33,681     $ 26,970     $ 17,168     $ 16,513     $ (83,176 )   $ 13,101     $ 25,265  
    FINANCIAL RATIOS:                                        
    Earnings (loss) per share – basic $ 1.68     $ 1.75     $ 0.85     $ 0.82     $ (5.07 )   $ 0.85     $ 1.64  
    Earnings (loss) per share – diluted $ 1.66     $ 1.73     $ 0.85     $ 0.81     $ (5.07 )   $ 0.84     $ 1.62  
    Cash dividends declared on common stock $ 0.62     $ 0.60     $ 0.31     $ 0.31     $ 0.30     $ 0.30     $ 0.30  
    Common dividend payout ratio   36.90 %     34.29 %     36.47 %     37.80 %     -5.92 %     35.29 %     18.29 %
    Dividend yield (annualized)   4.87 %     6.25 %     4.86 %     5.05 %     4.37 %     4.69 %     6.25 %
    Return on average assets (annualized)   1.12 %     0.90 %     1.13 %     1.10 %     -5.38 %     0.89 %     1.68 %
    Return on average equity (annualized)   11.80 %     12.32 %     11.78 %     11.82 %     -63.70 %     11.08 %     22.93 %
    Return on average common equity (annualized)   11.90 %     12.47 %     11.88 %     11.92 %     -66.19 %     11.18 %     23.51 %
    Return on average tangible common equity (annualized)(1)   13.31 %     14.77 %     13.27 %     13.36 %     -75.36 %     12.87 %     27.51 %
    Efficiency ratio(2)   59.24 %     74.80 %     59.68 %     58.79 %     117.13 %     64.70 %     50.58 %
    Effective tax rate   18.3 %     15.0 %     18.4 %     18.2 %     28.2 %     7.4 %     15.0 %
                                                           
    1. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    2. The efficiency ratio is calculated by dividing noninterest expense by net revenue, i.e., the sum of net interest income (fully taxable equivalent) and noninterest income before net gains on investment securities. This is a banking industry measure not required by GAAP.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    SELECTED AVERAGE BALANCES: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Federal funds sold and interest-earning deposits $ 55,306     $ 146,099     $ 39,027     $ 71,767     $ 121,530     $ 49,476     $ 134,123  
    Investment securities(1)   1,078,600       1,188,901       1,071,628       1,085,649       1,159,863       1,147,052       1,194,808  
    Loans:                                        
    Commercial business   699,141       713,496       720,347       677,700       658,038       673,830       704,272  
    Commercial mortgage   2,212,786       2,044,612       2,221,576       2,203,899       2,148,427       2,092,905       2,059,382  
    Residential real estate loans   646,001       648,510       645,007       647,005       649,549       647,844       648,099  
    Residential real estate lines   74,860       75,986       75,010       74,709       76,164       75,671       75,575  
    Consumer indirect   843,763       919,718       839,294       848,282       858,854       881,133       905,056  
    Other consumer   40,850       48,043       39,485       42,230       43,333       43,789       44,552  
    Total loans   4,517,401       4,450,365       4,540,719       4,493,825       4,434,365       4,415,172       4,436,936  
    Total interest-earning assets   5,651,307       5,785,365       5,651,374       5,651,241       5,715,758       5,611,700       5,765,867  
    Goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Total assets   6,218,412       6,189,594       6,216,657       6,220,187       6,121,449       6,018,390       6,153,429  
    Interest-bearing liabilities:                                        
    Interest-bearing demand   738,055       745,259       730,979       745,210       757,221       691,412       741,006  
    Savings and money market   1,964,884       2,059,294       1,953,412       1,976,483       1,992,059       1,938,935       2,036,772  
    Time deposits   1,598,381       1,492,399       1,631,407       1,564,987       1,545,071       1,515,745       1,505,665  
    Short-term borrowings   90,636       159,929       86,099       95,223       56,513       129,130       140,110  
    Long-term borrowings, net   120,648       124,601       116,473       124,871       124,795       124,717       124,640  
    Total interest-bearing liabilities   4,512,604       4,581,482       4,518,370       4,506,774       4,475,659       4,399,939       4,548,193  
    Noninterest-bearing demand deposits   925,043       956,670       923,409       926,696       947,428       952,970       950,819  
    Total deposits   5,226,363       5,253,622       5,239,207       5,213,376       5,241,779       5,099,062       5,234,262  
    Total liabilities   5,630,349       5,737,327       5,619,834       5,640,981       5,604,249       5,535,112       5,703,929  
    Shareholders’ equity   588,063       452,267       596,823       579,206       517,200       483,278       449,500  
    Common equity   570,778       434,975       579,538       561,921       499,910       465,986       432,208  
    Tangible common equity(2)   510,115       367,324       518,928       501,204       439,086       405,050       369,315  
    Common shares outstanding:                                        
    Basic   20,090       15,424       20,107       20,073       16,415       15,464       15,444  
    Diluted   20,291       15,551       20,294       20,285       16,415       15,636       15,556  
    SELECTED AVERAGE YIELDS:
    (Tax equivalent basis)    		                                        
    Investment securities(3)   4.30 %     2.13 %     4.34 %     4.25 %     2.38 %     2.14 %     2.17 %
    Loans   6.23 %     6.37 %     6.26 %     6.20 %     6.28 %     6.42 %     6.40 %
    Total interest-earning assets   5.84 %     5.47 %     5.88 %     5.80 %     5.45 %     5.53 %     5.50 %
    Interest-bearing demand   1.18 %     1.15 %     1.21 %     1.15 %     1.34 %     1.05 %     1.18 %
    Savings and money market   2.71 %     3.04 %     2.67 %     2.75 %     2.94 %     3.07 %     3.01 %
    Time deposits   4.19 %     4.70 %     4.08 %     4.31 %     4.53 %     4.72 %     4.72 %
    Short-term borrowings   1.95 %     3.13 %     1.80 %     2.09 %     0.15 %     2.64 %     2.75 %
    Long-term borrowings, net   5.17 %     5.02 %     5.35 %     5.00 %     5.03 %     5.03 %     5.02 %
    Total interest-bearing liabilities   3.03 %     3.33 %     3.00 %     3.07 %     3.24 %     3.37 %     3.32 %
    Net interest rate spread   2.81 %     2.14 %     2.88 %     2.73 %     2.21 %     2.16 %     2.18 %
    Net interest margin   3.42 %     2.83 %     3.49 %     3.35 %     2.91 %     2.89 %     2.87 %
                                                           
    1. Includes investment securities at adjusted amortized cost.
    2. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    3. The interest on tax-exempt securities is calculated on a tax-equivalent basis assuming a Federal income tax rate of 21%.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    ASSET QUALITY DATA: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Allowance for Credit Losses – Loans                                        
    Beginning balance $ 48,041     $ 51,082     $ 48,964     $ 48,041     $ 44,678     $ 43,952     $ 43,075  
    Net loan charge-offs (recoveries):                                        
    Commercial business   1,960       (30 )     1,903       57       131       (3 )     7  
    Commercial mortgage–construction   –       –       –       –       –       –       –  
    Commercial mortgage–multifamily         –       –       –       –       13       –  
    Commercial mortgage–non-owner occupied   595       (2 )     596       (1 )     (5 )     (1 )     (1 )
    Commercial mortgage–owner occupied   (2 )     (2 )     (1 )     (1 )     (1 )     (2 )     (2 )
    Residential real estate loans   133       100       92       41       (4 )     (1 )     96  
    Residential real estate lines   27       –       27       –       –       –       –  
    Consumer indirect   3,091       3,817       942       2,149       2,557       1,553       844  
    Other consumer   615       360       491       124       100       106       178  
    Total net charge-offs (recoveries)   6,419       4,243       4,050       2,369       2,778       1,665       1,122  
    Provision (benefit) for credit losses – loans   5,669       (2,887 )     2,377       3,292       6,141       2,391       1,999  
    Ending balance $ 47,291     $ 43,952     $ 47,291     $ 48,964     $ 48,041     $ 44,678     $ 43,952  
                                             
    Net charge-offs (recoveries) to average loans (annualized):                                        
    Commercial business   0.57 %     -0.01 %     1.06 %     0.03 %     0.80 %     0.00 %     0.00 %
    Commercial mortgage–construction   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–multifamily   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.01 %     0.00 %
    Commercial mortgage–non-owner occupied   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–owner occupied   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Residential real estate loans   0.04 %     0.03 %     0.06 %     0.03 %     0.00 %     0.00 %     0.06 %
    Residential real estate lines   0.07 %     0.00 %     0.14 %     0.00 %     0.00 %     0.00 %     0.00 %
    Consumer indirect   0.74 %     0.83 %     0.45 %     1.03 %     1.18 %     0.70 %     0.38 %
    Other consumer   3.04 %     1.51 %     4.99 %     1.19 %     0.91 %     0.95 %     1.62 %
    Total loans   0.29 %     0.19 %     0.36 %     0.21 %     0.25 %     0.15 %     0.10 %
                                             
    Supplemental information (1)                                        
    Non-performing loans:                                        
    Commercial business $ 3,671     $ 5,680     $ 3,671     $ 5,672     $ 5,609     $ 5,752     $ 5,680  
    Commercial mortgage–construction   19,621       4,970       19,621       19,684       20,280       20,280       4,970  
    Commercial mortgage–multifamily   –       183       –       –       –       71       183  
    Commercial mortgage–non-owner occupied   164       4,919       164       4,766       4,773       4,903       4,919  
    Commercial mortgage–owner occupied   –       380       –       349       354       366       380  
    Residential real estate loans   5,885       5,961       5,885       6,035       6,918       5,790       5,961  
    Residential real estate lines   299       183       299       316       253       232       183  
    Consumer indirect   2,571       2,897       2,571       2,917       3,157       3,291       2,897  
    Other consumer   225       36       225       279       62       57       36  
    Total non-performing loans   32,436       25,209       32,436       40,018       41,406       40,742       25,209  
    Foreclosed assets   142       63       142       196       60       109       63  
    Total non-performing assets $ 32,578     $ 25,272     $ 32,578     $ 40,214     $ 41,466     $ 40,851     $ 25,272  
                                             
    Total non-performing loans to total loans   0.72 %     0.57 %     0.72 %     0.88 %     0.92 %     0.93 %     0.57 %
    Total non-performing assets to total assets   0.53 %     0.41 %     0.53 %     0.63 %     0.68 %     0.66 %     0.41 %
    Allowance for credit losses – loans to total loans   1.04 %     0.99 %     1.04 %     1.08 %     1.07 %     1.01 %     0.99 %
    Allowance for credit losses – loans to non-performing loans   146 %     174 %     146 %     122 %     116 %     110 %     174 %
                                                           
    1. At period end.

    FINANCIAL INSTITUTIONS, INC.
    Appendix A — Reconciliation to Non-GAAP Financial Measures (Unaudited)
    (In thousands, except per share amounts)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
      2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Ending tangible assets:                                        
    Total assets             $ 6,143,766     $ 6,340,492     $ 6,117,085     $ 6,156,317     $ 6,131,772  
    Less: Goodwill and other intangible assets, net               60,564       60,651       60,758       60,867       60,979  
    Tangible assets             $ 6,083,202     $ 6,279,841     $ 6,056,327     $ 6,095,450     $ 6,070,793  
                                             
    Ending tangible common equity:                                        
    Common shareholders’ equity             $ 584,383     $ 572,643     $ 551,699     $ 483,050     $ 450,375  
    Less: Goodwill and other intangible assets, net               60,564       60,651       60,758       60,867       60,979  
    Tangible common equity             $ 523,819     $ 511,992     $ 490,941     $ 422,183     $ 389,396  
                                             
    Tangible common equity to tangible assets(1)               8.61 %     8.15 %     8.11 %     6.93 %     6.41 %
                                             
    Common shares outstanding               20,128       20,110       20,077       15,474       15,472  
    Tangible common book value per share(2)             $ 26.02     $ 25.46     $ 24.45     $ 27.28     $ 25.17  
                                             
    Average tangible assets:                                        
    Average assets $ 6,218,412     $ 6,189,594     $ 6,216,657     $ 6,220,187     $ 6,121,449     $ 6,018,390     $ 6,153,429  
    Less: Average goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Average tangible assets $ 6,157,749     $ 6,121,943     $ 6,156,047     $ 6,159,470     $ 6,060,625     $ 5,957,454     $ 6,090,536  
                                             
    Average tangible common equity:                                        
    Average common equity $ 570,778     $ 434,975     $ 579,538     $ 561,921     $ 499,910     $ 465,986     $ 432,208  
    Less: Average goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Average tangible common equity $ 510,115     $ 367,324     $ 518,928     $ 501,204     $ 439,086     $ 405,050     $ 369,315  
                                             
    Net income (loss) available to common shareholders $ 33,681     $ 26,970     $ 17,168     $ 16,513     $ (83,176 )   $ 13,101     $ 25,265  
    Return on average tangible common equity(3)   13.31 %     14.77 %     13.27 %     13.36 %     -75.36 %     12.87 %     27.51 %
                                             
    1. Tangible common equity divided by tangible assets.
    2. Tangible common equity divided by common shares outstanding.
    3. Net income available to common shareholders (annualized) divided by average tangible common equity.

    The MIL Network –

  • MIL-OSI: Financial Institutions, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., July 24, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company,” “we” or “us”), parent company of Five Star Bank (the “Bank”) and Courier Capital, LLC (“Courier Capital”), today reported financial and operational results for the second quarter ended June 30, 2025.

    The Company reported net income of $17.5 million in the second quarter of 2025, compared to $16.9 million in the first quarter of 2025 and $25.6 million in the second quarter of 2024. After preferred dividends, net income available to common shareholders was $17.2 million, or $0.85 per diluted share, in the second quarter of 2025, compared to $16.5 million, or $0.81 per diluted share, in the first quarter of 2025, and $25.3 million, or $1.62 per diluted share, in the second quarter of 2024. The Company recorded a provision for credit losses of $2.6 million in the current quarter, compared to $2.9 million in the linked quarter and $2.0 million in the prior year quarter.

    Second Quarter 2025 Highlights:

    • Net interest margin of 3.49% for second quarter of 2025 was up 14 and 62 basis points from the linked and year-ago quarters, respectively, while net interest income of $49.1 million for second quarter of 2025 increased $2.3 million, or 4.8%, from the first quarter of 2025 and $7.9 million, or 19.2%, from the second quarter of 2024.
    • Noninterest income was $10.6 million in the second quarter of 2025, compared to $10.4 million in the linked quarter and $24.0 million in the year-ago quarter, when results benefited from a $13.5 million pre-tax gain associated with the sale of the Company’s insurance business.
    • Total loans were $4.54 billion at June 30, 2025, reflecting a decrease of $17.3 million, or 0.4%, from March 31, 2025, driven by a decrease in our consumer indirect lending portfolio as pay-downs exceeded originations, and an increase of $74.5 million, or 1.7%, from one year prior.
    • Total deposits were $5.16 billion at June 30, 2025, down $216.9 million, or 4.0%, from March 31, 2025, driven by both seasonal public deposit outflows and the previously announced wind-down of the Company’s Banking-as-a-Service, or BaaS, offering, and relatively flat compared to one year prior.
    • Nonperforming assets to total assets were 0.53% at June 30, 2025, down from 0.63% at the linked quarter-end and up from 0.41% one year prior.

    “Second quarter 2025 financial results were highlighted by continued margin expansion, increased net interest income and durable noninterest revenues, which allowed us to deliver 4% growth in net income available to common shareholders from the linked first quarter,” said President and Chief Executive Officer Martin K. Birmingham. “Profitability continues to be a paramount focus, and we were pleased to maintain an efficiency ratio below 60% and report solid annualized return on average assets and return on average equity of 1.13% and 11.78%, respectively, for the most recent quarter.

    “Deposit balances reflect typical seasonality within our public deposit portfolio and total loans were relatively flat with the end of the first quarter, as commercial business lending growth was more than offset by a reduction in consumer indirect balances. Given our strong first quarter loan production and existing pipelines, we continue to expect low single-digit full year loan growth that aligns with our credit-disciplined philosophy.”

    Chief Financial Officer and Treasurer W. Jack Plants II added, “Our results continue to benefit from our team’s focus on prudent balance sheet stewardship through redeployment of cash flows into higher yielding assets, active investment portfolio management and our ability to effectively reprice deposits, supporting a six basis point reduction in our overall cost of funds. Expenses in the second quarter were somewhat elevated, in part reflecting timing of certain expenses and some higher costs that we expect to be nonrecurring, and we will remain intently focused on expense management through the coming quarters to support positive operating leverage in 2025.”

    Net Interest Income and Net Interest Margin

    Net interest income was $49.1 million for the second quarter of 2025, an increase of $2.3 million from the first quarter of 2025, and an increase of $7.9 million from the second quarter of 2024.

    Average interest-earning assets for the current quarter of $5.65 billion were flat with the first quarter of 2025, as a $46.9 million increase in average loans was offset by a $32.7 million decrease in the average balance of Federal Reserve interest-earning cash and a $14.0 million decrease in the average balance of investment securities. Average interest-earning assets decreased $114.5 million from the second quarter of 2024, as a $123.2 million decrease in the average balance of investment securities and a $95.1 million decrease in the average balance of Federal Reserve interest-earning cash were partially offset by a $103.8 million increase in average loans.

    Average interest-bearing liabilities for the current quarter were $4.52 billion, reflecting an increase of $11.6 million from the linked quarter and a decrease of $29.8 million from the year-ago quarter. The increase from the first quarter of 2025 was primarily due to a $66.4 million increase in average time deposits that was partially offset by a $23.1 million decrease in average savings and money market deposits, a $14.2 million decrease in average interest-bearing demand deposits, a $9.1 million decrease in average short-term borrowings, and an $8.4 million decrease in average long-term borrowings. The year-over-year decrease was due to an $83.4 million decrease in average savings and money market deposits, a $54.0 million decrease in average short-term borrowings, a $10.0 million decrease in average interest-bearing demand deposits, and an $8.2 million decrease in average long-term borrowings, partially offset by a $125.7 million increase in average time deposits. The continued outflow of BaaS-related deposits, following the Company’s September 2024 announcement that it would wind-down its BaaS platform, was the primary driver of the reduction in average savings and money market deposits from the linked and year-ago periods.

    Net interest margin was 3.49% in the current quarter as compared to 3.35% in the first quarter of 2025, and 2.87% in the second quarter of 2024. Expansion from the linked quarter was due to increases in the average yields of both investment securities and loans, as well as lower average cost of interest-bearing liabilities, reflecting repricing of non-public and reciprocal deposits. Year-over-year margin expansion was driven by an increase in the average yield on investment securities, following the previously disclosed restructuring of the available-for-sale securities portfolio in December 2024, which supported an increase in the average yield on interest-earning assets.

    Noninterest Income

    The Company reported noninterest income of $10.6 million for the second quarter of 2025, compared to $10.4 million in the first quarter of 2025 and $24.0 million in the second quarter of 2024.

    • The Company’s sale of its former insurance subsidiary generated a net gain of $13.5 million in the second quarter of 2024.
    • Investment advisory income of $2.9 million was $148 thousand higher than the first quarter of 2025 and up $106 thousand from the second quarter of 2024.
    • Income from company-owned life insurance (“COLI”) of $3.0 million was $188 thousand higher than the first quarter of 2025 and $1.6 million higher than the second quarter of 2024, due to the previously disclosed restructuring of a portion of the Company’s COLI portfolio into higher-yielding separate account policies in January 2025.
    • Income from investments in limited partnerships of $307 thousand was $108 thousand lower than the first quarter of 2025 and $496 thousand lower than the second quarter of 2024. The Company has made several investments in limited partnerships, primarily small business investment companies, and accounts for these investments under the equity method. Income from these investments fluctuates based on the maturity and performance of the underlying investments.
    • Other noninterest income of $1.3 million was $292 thousand lower than the linked quarter and $227 thousand lower than the year-ago quarter.

    Noninterest Expense

    Noninterest expense was $35.7 million in the second quarter of 2025, compared to $33.7 million in the first quarter of 2025, and $33.0 million in the second quarter of 2024.

    • Salaries and employee benefits expense of $18.1 million was $1.2 million higher than the first quarter of 2025 and $2.3 million higher than the second quarter of 2024, reflecting an increase in health insurance benefits due to higher medical claims than in the linked quarter, while the increase from the prior year quarter was primarily due to annual merit increases.
    • Occupancy and equipment expense of $4.0 million reflects increases of $392 thousand and $534 thousand from the linked and year-ago quarters, respectively. The linked quarter increase was due in part to timing given a change in facilities maintenance service vendors, as well as costs associated with an ongoing ATM conversion, while the year-over-year variance was due in part to the ATM conversion and upgrade project.
    • Professional services expenses of $1.5 million were $240 thousand lower than the first quarter of 2025 and $343 thousand lower than the second quarter of 2024. The linked quarter variance was primarily due to the timing of audit related expenses, while the year-over-year variance was primarily attributable to legal expenses incurred in the second quarter of 2024 related to the Company’s previously disclosed deposit-related fraud event.
    • Computer and data processing expense of $5.9 million was $392 thousand higher than the first quarter of 2025 and $537 thousand higher than the second quarter of 2024. Both the linked quarter and year-over-year increases were driven by the timing of expenses for in-process technology enhancement and upgrade initiatives.
    • The Company recorded deposit-related charged-off items of $233 thousand for the current quarter, compared to charged-off recoveries of $294 thousand in the first quarter of 2025 and charged-off items of $398 thousand in the second quarter of 2024, with the linked quarter variance primarily driven by insurance proceeds received in the first quarter of 2025 related to a past commercial deposit charged-off item.
    • Other expense of $3.6 million was down $179 thousand from the linked quarter and down $381 thousand from the year-ago quarter, with the year-over-year variance primarily due to higher interest rate swap collateral charges in the second quarter of 2024.

    Income Taxes

    Income tax expense was $4.0 million for the second quarter of 2025, compared to $3.7 million in the first quarter of 2025 and $4.5 million in the second quarter of 2024. The Company also recognized federal and state tax benefits related to tax credit investments placed in service and/or amortized during the second quarter of 2025, first quarter of 2025, and second quarter of 2024, resulting in income tax expense reductions of $1.1 million, $1.1 million, and $1.3 million, respectively.

    The effective tax rate was 18.4% for the second quarter of 2025, 18.2% for the first quarter of 2025, and 15.0% for the second quarter of 2024. The effective tax rate fluctuates on a quarterly basis primarily due to the level of pre-tax earnings and may differ from statutory rates because of interest income from tax-exempt securities, earnings on COLI, the tax impact of the COLI repositioning, and the impact of tax credit investments.

    Balance Sheet and Capital Management

    Total assets were $6.14 billion at June 30, 2025, down $196.7 million from March 31, 2025, and flat with June 30, 2024.

    Investment securities were $1.01 billion at June 30, 2025, down $31.8 million from March 31, 2025, and flat with June 30, 2024.

    Total loans were $4.54 billion at June 30, 2025, a decrease of $17.3 million, or 0.4%, from March 31, 2025, and an increase of $74.5 million, or 1.7%, from June 30, 2024.

    • Commercial business loans totaled $726.2 million, up $17.1 million, or 2.4%, from March 31, 2025, and up $12.3 million, or 1.7%, from June 30, 2024.
    • Commercial mortgage loans totaled $2.22 billion, a decline of $13.1 million, or 0.6%, from March 31, 2025, and an increase of $129.3 million, or 6.2%, from June 30, 2024.
    • Residential real estate loans totaled $647.2 million, up $3.2 million, or 0.5%, from March 31, 2025, and down $470 thousand, or 0.1%, from June 30, 2024.
    • Consumer indirect loans totaled $833.5 million, down $19.7 million, or 2.3%, from March 31, 2025, and down $61.1 million, or 6.8%, from June 30, 2024.

    Total deposits were $5.16 billion at June 30, 2025, down $216.9 million, or 4.0%, from March 31, 2025, and up $22.7 million, or 0.4%, from June 30, 2024. The decrease from March 31, 2025 was primarily due to seasonally lower public deposit balances in addition to the outflow of BaaS-related deposits. The modest increase from June 30, 2024 reflected a higher level of brokered deposits, which were utilized to offset the anticipated reduction in BaaS-related deposits, as well as lower reciprocal deposit balances. The Company had approximately $7 million in BaaS-related deposits at June 30, 2025, compared to approximately $55 million at March 31, 2025 and approximately $108 million at June 30, 2024. Public deposit balances represented 21% of total deposits at June 30, 2025, 24% at March 31, 2025, and 20% at June 30, 2024.

    Short-term borrowings were $101.0 million at June 30, 2025, compared to $55.0 million at March 31, 2025, and $202.0 million at June 30, 2024. Short-term borrowings and brokered deposits have historically been utilized to manage the seasonality of public deposits.

    Shareholders’ equity was $601.7 million at June 30, 2025, compared to $589.9 million at March 31, 2025, and $467.7 million at June 30, 2024. The linked quarter period-end increase was due to net income, net of dividends, retained, while the year-over-year period end increase was primarily driven by additional paid-in-capital resulting from the common stock capital raise executed in the fourth quarter of 2024 and a decrease in accumulated other comprehensive loss between period ends following the investment securities restructuring in the fourth quarter of 2024.

    Common book value per share was $29.03 at June 30, 2025, an increase of $0.55, or 1.9%, from $28.48 at March 31, 2025, and a decrease of $0.08, or 0.3%, from $29.11 at June 30, 2024. Tangible common book value per share(1) was $26.02 at June 30, 2025, an increase of $0.56, or 2.2%, from $25.46 at March 31, 2025, and an increase of $0.85, or 3.4%, from $25.17 at June 30, 2024. The common equity to assets ratio was 9.51% at June 30, 2025, compared to 9.03% at March 31, 2025, and 7.34% at June 30, 2024. Tangible common equity to tangible assets(1), or the TCE ratio, was 8.61%, 8.15% and 6.41% at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. The year-over-year increases in both ratios were attributable to the additional capital raised in the fourth quarter of 2024 and the decrease in accumulated other comprehensive loss as a result of the investment securities restructuring in the fourth quarter of 2024.

    During the second quarter of 2025, the Company declared a common stock dividend of $0.31 per common share, consistent with the linked quarter and reflecting an increase of $0.01, or 3.3%, over the year-ago quarter. The dividend returned more than 36% of second quarter net income to common shareholders.

    The Company’s regulatory capital ratios at June 30, 2025 continued to exceed all regulatory capital requirements to be considered well capitalized.

    • Leverage Ratio was 9.45% compared to 9.24% and 8.61% at March 31, 2025, and June 30, 2024, respectively.
    • Common Equity Tier 1 Capital Ratio was 10.84% compared to 10.38% and 10.03% at March 31, 2025, and June 30, 2024, respectively.
    • Tier 1 Capital Ratio was 11.17% compared to 10.71% and 10.36% at March 31, 2025, and June 30, 2024, respectively.
    • Total Risk-Based Capital Ratio was 13.27% compared to 13.09% and 12.65% at March 31, 2025, and June 30, 2024, respectively.

    As previously disclosed, in April 2025, the Company called $10.0 million of its $40.0 million of fixed-to-floating subordinated debt that was originally issued in April 2015. These notes initially bore interest at a fixed rate of 6.00% and began repricing on a quarterly basis at a rate equal to the then-current three-month term SOFR plus 4.20561% after the April 2025 call date. The Company currently expects to retain the remaining $30.0 million of April 2015 notes, as well as the separate $35.0 million of fixed-to-floating rate subordinated notes that were issued in October 2020, which currently bear interest at a fixed rate of 4.375%, and are set to reprice at a rate of the then-current three-month term SOFR plus 4.265% beginning in October 2025. The April 2015 notes are callable on a quarterly basis going forward and the October 2020 notes become callable beginning in October 2025. The Company will continue to evaluate options relative to its outstanding subordinated debt, which may include redemption in part or in full, as well as replacing or refinancing the facilities.

    Credit Quality

    Non-performing loans were $32.4 million, or 0.72% of total loans, at June 30, 2025, as compared to $40.0 million, or 0.88% of total loans, at March 31, 2025, and $25.2 million, or 0.57% of total loans, at June 30, 2024. The decrease from March 31, 2025 reflects a reduction of approximately $3.7 million in non-performing loans associated with the foreclosure of a participated loan secured by real estate, as well as a $1.9 million partial charge-off of a credit facility for which a specific reserve was in place. Both the aforementioned foreclosed participated loan and the partially charged-off credit facility relate to a previously disclosed commercial business relationship that was placed on nonaccrual status in the fourth quarter of 2023. The increase in non-performing loans from June 30, 2024 was primarily driven by one commercial loan relationship that was placed on nonaccrual status during the third quarter of 2024. Net charge-offs were $4.1 million, representing 0.36% of average loans on an annualized basis, for the current quarter, as compared to $2.4 million, or an annualized 0.21% of average loans, in the first quarter of 2025 and $1.1 million, or an annualized 0.10%, in the second quarter of 2024.

    At June 30, 2025, the allowance for credit losses on loans to total loans ratio was 1.04%, compared to 1.08% at March 31, 2025 and 0.99% at June 30, 2024.

    Provision for credit losses was $2.6 million in the current quarter, compared to $2.9 million in the linked quarter and $2.0 million in the prior year quarter. Provision for credit losses on loans was $2.4 million in the current quarter, compared to $3.3 million in the first quarter of 2025, and $2.0 million in the second quarter of 2024. The allowance for unfunded commitments, also included in provision for credit losses as required by the current expected credit loss standard (“CECL”), totaled $179 thousand in the second quarter of 2025, $364 thousand in the first quarter of 2025, and $43 thousand in the second quarter of 2024. The provision for credit losses for the second quarter of 2025 was driven by a combination of factors, including improvement in the forecasted loss rate for pooled loans and a reduction in specific reserves, partly offset by higher net charge-offs.

    The Company has remained strategically focused on the importance of credit discipline, allocating resources to credit and risk management functions as the loan portfolio has grown. The ratio of allowance for credit losses on loans to non-performing loans was 146% at June 30, 2025, 122% at March 31, 2025, and 174% at June 30, 2024, with the improvement from the end of the linked quarter reflective of the decrease in nonperforming loans reported at June 30, 2025.

    Subsequent Events

    The Company is required, under generally accepted accounting principles (“GAAP”), to evaluate subsequent events through the filing of its consolidated financial statements for the quarter ended June 30, 2025, on Form 10-Q. As a result, the Company will continue to evaluate the impact of any subsequent events on critical accounting assumptions and estimates made as of June 30, 2025, and will adjust amounts preliminarily reported, if necessary.

    Conference Call

    The Company will host an earnings conference call and audio webcast on July 25, 2025 at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. The live webcast will be available in listen-only mode on the Company’s website at www.FISI-investors.com. Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 652423. The webcast replay will be available on the Company’s website for at least 30 days.

    About Financial Institutions, Inc.

    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.1 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    Non-GAAP Financial Information

    In addition to results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to GAAP measures is included in Appendix A to this document.

    The Company believes that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, performance trends and financial position. Our management uses these measures for internal planning and forecasting purposes and we believe that our presentation and discussion, together with the accompanying reconciliations, allows investors, security analysts and other interested parties to view our performance and the factors and trends affecting our business in a manner similar to management. These non-GAAP measures should not be considered a substitute for GAAP measures, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure to evaluate the Company. Non-GAAP financial measures have inherent limitations, are not uniformly applied and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Safe Harbor Statement

    This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “may,” “plan,” “preliminary,” “should,” “target” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; inflation; tariffs; changes in deposit flows and the cost and availability of funds; fraudulent deposit activity; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC, could adversely affect us and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

    (1) See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.

    For additional information contact:
    Kate Croft
    Director of Investor Relations and Corporate Communications
    (716) 817-5159
    klcroft@five-starbank.com

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

      2025     2024  
    SELECTED BALANCE SHEET DATA: June 30,     March 31,     December 31,     September 30,     June 30,  
    Cash and cash equivalents $ 93,034     $ 167,352     $ 87,321     $ 249,569     $ 146,347  
    Investment securities:                            
    Available for sale   916,149       926,992       911,105       886,816       871,635  
    Held-to-maturity, net   92,121       113,105       116,001       121,279       128,271  
    Total investment securities   1,008,270       1,040,097       1,027,106       1,008,095       999,906  
    Loans held for sale   2,356       387       2,280       2,495       2,099  
    Loans:                            
    Commercial business   726,218       709,101       665,321       654,519       713,947  
    Commercial mortgage–construction   536,552       566,359       582,619       533,506       518,013  
    Commercial mortgage–multifamily   496,223       475,867       470,954       467,527       463,171  
    Commercial mortgage–non-owner occupied   873,207       899,679       857,987       814,392       814,953  
    Commercial mortgage–owner occupied   309,171       286,391       288,036       290,216       289,733  
    Residential real estate loans   647,205       643,983       650,206       648,241       647,675  
    Residential real estate lines   75,675       74,769       75,552       76,203       75,510  
    Consumer indirect   833,452       853,176       845,772       874,651       894,596  
    Other consumer   38,299       43,953       42,757       43,734       43,870  
    Total loans   4,536,002       4,553,278       4,479,204       4,402,989       4,461,468  
    Allowance for credit losses – loans   47,291       48,964       48,041       44,678       43,952  
    Total loans, net   4,488,711       4,504,314       4,431,163       4,358,311       4,417,516  
    Total interest-earning assets   5,614,008       5,733,743       5,602,570       5,666,972       5,709,148  
    Goodwill and other intangible assets, net   60,564       60,651       60,758       60,867       60,979  
    Total assets   6,143,766       6,340,492       6,117,085       6,156,317       6,131,772  
    Deposits:                            
    Noninterest-bearing demand   940,341       945,182       950,351       978,660       939,346  
    Interest-bearing demand   704,871       773,475       705,195       793,996       711,580  
    Savings and money market   1,898,302       2,033,323       1,904,013       2,027,181       2,007,256  
    Time deposits   1,612,500       1,620,930       1,545,172       1,506,764       1,475,139  
    Total deposits   5,156,014       5,372,910       5,104,731       5,306,601       5,133,321  
    Short-term borrowings   101,000       55,000       99,000       55,000       202,000  
    Long-term borrowings, net   114,960       124,917       124,842       124,765       124,687  
    Total interest-bearing liabilities   4,431,633       4,607,645       4,405,912       4,507,706       4,520,662  
    Shareholders’ equity   601,668       589,928       568,984       500,342       467,667  
    Common shareholders’ equity   584,383       572,643       551,699       483,050       450,375  
    Tangible common equity(1)   523,838       511,992       490,941       422,183       389,396  
    Accumulated other comprehensive loss $ (42,214 )   $ (41,995 )   $ (52,604 )   $ (102,029 )   $ (125,774 )
                                 
    Common shares outstanding   20,128       20,110       20,077       15,474       15,472  
    Treasury shares   572       590       623       625       627  
    CAPITAL RATIOS AND PER SHARE DATA:                            
    Leverage ratio   9.45 %     9.24 %     9.15 %     8.98 %     8.61 %
    Common equity Tier 1 capital ratio   10.84 %     10.38 %     10.54 %     10.28 %     10.03 %
    Tier 1 capital ratio   11.17 %     10.71 %     10.87 %     10.62 %     10.36 %
    Total risk-based capital ratio   13.27 %     13.09 %     13.25 %     12.95 %     12.65 %
    Common equity to assets   9.51 %     9.03 %     9.02 %     7.85 %     7.34 %
    Tangible common equity to tangible assets(1)   8.61 %     8.15 %     8.11 %     6.93 %     6.41 %
                                 
    Common book value per share $ 29.03     $ 28.48     $ 27.48     $ 31.22     $ 29.11  
    Tangible common book value per share(1) $ 26.02     $ 25.46     $ 24.45     $ 27.28     $ 25.17  
                                           
    1. See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    SELECTED STATEMENT OF OPERATIONS DATA: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Interest income $ 163,918     $ 157,201     $ 82,867     $ 81,051     $ 78,119     $ 77,911     $ 78,788  
    Interest expense   67,932       75,926       33,745       34,187       36,486       37,230       37,595  
    Net interest income   95,986       81,275       49,122       46,864       41,633       40,681       41,193  
    Provision (benefit) for credit losses   5,490       (3,415 )     2,562       2,928       6,461       3,104       2,041  
    Net interest income after provision (benefit) for credit losses   90,496       84,690       46,560       43,936       35,172       37,577       39,152  
    Noninterest income:                                        
    Service charges on deposits   2,141       2,056       1,089       1,052       1,074       1,103       979  
    Insurance income   6       2,138       3       3       3       3       4  
    Card interchange income   3,777       3,910       1,937       1,840       2,045       1,900       2,008  
    Investment advisory   5,622       5,361       2,885       2,737       2,555       2,797       2,779  
    Company owned life insurance   5,742       2,658       2,965       2,777       1,425       1,404       1,360  
    Investments in limited partnerships   722       1,145       307       415       837       400       803  
    Loan servicing   303       333       180       123       295       88       158  
    Income (loss) from derivative instruments, net   589       551       339       250       (37 )     212       377  
    Net gain on sale of loans held for sale   257       212       140       117       186       220       124  
    Net loss on investment securities   3       –       3       –       (100,055 )     –       –  
    Net gain (loss) on the sale of other assets   –       13,495       –       –       (19 )     138       13,508  
    Net (loss) gain on tax credit investments   (1,026 )     31       (512 )     (514 )     (636 )     (170 )     406  
    Other   2,854       3,025       1,281       1,573       1,291       1,345       1,508  
    Total noninterest income (loss)   20,990       34,915       10,617       10,373       (91,036 )     9,440       24,014  
    Noninterest expense:                                        
    Salaries and employee benefits   34,968       33,088       18,070       16,898       17,159       15,879       15,748  
    Occupancy and equipment   7,572       7,200       3,982       3,590       3,791       3,370       3,448  
    Professional services   3,142       4,166       1,451       1,691       1,571       1,965       1,794  
    Computer and data processing   11,366       10,728       5,879       5,487       6,608       5,353       5,342  
    Supplies and postage   1,081       912       503       578       504       519       437  
    FDIC assessments   2,859       2,641       1,392       1,467       1,551       1,092       1,346  
    Advertising and promotions   837       737       495       342       465       371       440  
    Amortization of intangibles   212       331       105       107       109       112       114  
    Provision for litigation settlement   –       –       –       –       23,022       –       –  
    Deposit-related charged-off items (recoveries) expense   (61 )     19,577       233       (294 )     354       410       398  
    Restructuring charges   68       –       –       68       35       –       –  
    Other   7,323       7,653       3,572       3,751       4,235       3,398       3,953  
    Total noninterest expense   69,367       87,033       35,682       33,685       59,404       32,469       33,020  
    Income (loss) before income taxes   42,119       32,572       21,495       20,624       (115,268 )     14,548       30,146  
    Income tax expense (benefit)   7,709       4,873       3,963       3,746       (32,457 )     1,082       4,517  
    Net income (loss)   34,410       27,699       17,532       16,878       (82,811 )     13,466       25,629  
    Preferred stock dividends   729       729       364       365       365       365       364  
    Net income (loss) available to common shareholders $ 33,681     $ 26,970     $ 17,168     $ 16,513     $ (83,176 )   $ 13,101     $ 25,265  
    FINANCIAL RATIOS:                                        
    Earnings (loss) per share – basic $ 1.68     $ 1.75     $ 0.85     $ 0.82     $ (5.07 )   $ 0.85     $ 1.64  
    Earnings (loss) per share – diluted $ 1.66     $ 1.73     $ 0.85     $ 0.81     $ (5.07 )   $ 0.84     $ 1.62  
    Cash dividends declared on common stock $ 0.62     $ 0.60     $ 0.31     $ 0.31     $ 0.30     $ 0.30     $ 0.30  
    Common dividend payout ratio   36.90 %     34.29 %     36.47 %     37.80 %     -5.92 %     35.29 %     18.29 %
    Dividend yield (annualized)   4.87 %     6.25 %     4.86 %     5.05 %     4.37 %     4.69 %     6.25 %
    Return on average assets (annualized)   1.12 %     0.90 %     1.13 %     1.10 %     -5.38 %     0.89 %     1.68 %
    Return on average equity (annualized)   11.80 %     12.32 %     11.78 %     11.82 %     -63.70 %     11.08 %     22.93 %
    Return on average common equity (annualized)   11.90 %     12.47 %     11.88 %     11.92 %     -66.19 %     11.18 %     23.51 %
    Return on average tangible common equity (annualized)(1)   13.31 %     14.77 %     13.27 %     13.36 %     -75.36 %     12.87 %     27.51 %
    Efficiency ratio(2)   59.24 %     74.80 %     59.68 %     58.79 %     117.13 %     64.70 %     50.58 %
    Effective tax rate   18.3 %     15.0 %     18.4 %     18.2 %     28.2 %     7.4 %     15.0 %
                                                           
    1. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    2. The efficiency ratio is calculated by dividing noninterest expense by net revenue, i.e., the sum of net interest income (fully taxable equivalent) and noninterest income before net gains on investment securities. This is a banking industry measure not required by GAAP.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    SELECTED AVERAGE BALANCES: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Federal funds sold and interest-earning deposits $ 55,306     $ 146,099     $ 39,027     $ 71,767     $ 121,530     $ 49,476     $ 134,123  
    Investment securities(1)   1,078,600       1,188,901       1,071,628       1,085,649       1,159,863       1,147,052       1,194,808  
    Loans:                                        
    Commercial business   699,141       713,496       720,347       677,700       658,038       673,830       704,272  
    Commercial mortgage   2,212,786       2,044,612       2,221,576       2,203,899       2,148,427       2,092,905       2,059,382  
    Residential real estate loans   646,001       648,510       645,007       647,005       649,549       647,844       648,099  
    Residential real estate lines   74,860       75,986       75,010       74,709       76,164       75,671       75,575  
    Consumer indirect   843,763       919,718       839,294       848,282       858,854       881,133       905,056  
    Other consumer   40,850       48,043       39,485       42,230       43,333       43,789       44,552  
    Total loans   4,517,401       4,450,365       4,540,719       4,493,825       4,434,365       4,415,172       4,436,936  
    Total interest-earning assets   5,651,307       5,785,365       5,651,374       5,651,241       5,715,758       5,611,700       5,765,867  
    Goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Total assets   6,218,412       6,189,594       6,216,657       6,220,187       6,121,449       6,018,390       6,153,429  
    Interest-bearing liabilities:                                        
    Interest-bearing demand   738,055       745,259       730,979       745,210       757,221       691,412       741,006  
    Savings and money market   1,964,884       2,059,294       1,953,412       1,976,483       1,992,059       1,938,935       2,036,772  
    Time deposits   1,598,381       1,492,399       1,631,407       1,564,987       1,545,071       1,515,745       1,505,665  
    Short-term borrowings   90,636       159,929       86,099       95,223       56,513       129,130       140,110  
    Long-term borrowings, net   120,648       124,601       116,473       124,871       124,795       124,717       124,640  
    Total interest-bearing liabilities   4,512,604       4,581,482       4,518,370       4,506,774       4,475,659       4,399,939       4,548,193  
    Noninterest-bearing demand deposits   925,043       956,670       923,409       926,696       947,428       952,970       950,819  
    Total deposits   5,226,363       5,253,622       5,239,207       5,213,376       5,241,779       5,099,062       5,234,262  
    Total liabilities   5,630,349       5,737,327       5,619,834       5,640,981       5,604,249       5,535,112       5,703,929  
    Shareholders’ equity   588,063       452,267       596,823       579,206       517,200       483,278       449,500  
    Common equity   570,778       434,975       579,538       561,921       499,910       465,986       432,208  
    Tangible common equity(2)   510,115       367,324       518,928       501,204       439,086       405,050       369,315  
    Common shares outstanding:                                        
    Basic   20,090       15,424       20,107       20,073       16,415       15,464       15,444  
    Diluted   20,291       15,551       20,294       20,285       16,415       15,636       15,556  
    SELECTED AVERAGE YIELDS:
    (Tax equivalent basis)    		                                        
    Investment securities(3)   4.30 %     2.13 %     4.34 %     4.25 %     2.38 %     2.14 %     2.17 %
    Loans   6.23 %     6.37 %     6.26 %     6.20 %     6.28 %     6.42 %     6.40 %
    Total interest-earning assets   5.84 %     5.47 %     5.88 %     5.80 %     5.45 %     5.53 %     5.50 %
    Interest-bearing demand   1.18 %     1.15 %     1.21 %     1.15 %     1.34 %     1.05 %     1.18 %
    Savings and money market   2.71 %     3.04 %     2.67 %     2.75 %     2.94 %     3.07 %     3.01 %
    Time deposits   4.19 %     4.70 %     4.08 %     4.31 %     4.53 %     4.72 %     4.72 %
    Short-term borrowings   1.95 %     3.13 %     1.80 %     2.09 %     0.15 %     2.64 %     2.75 %
    Long-term borrowings, net   5.17 %     5.02 %     5.35 %     5.00 %     5.03 %     5.03 %     5.02 %
    Total interest-bearing liabilities   3.03 %     3.33 %     3.00 %     3.07 %     3.24 %     3.37 %     3.32 %
    Net interest rate spread   2.81 %     2.14 %     2.88 %     2.73 %     2.21 %     2.16 %     2.18 %
    Net interest margin   3.42 %     2.83 %     3.49 %     3.35 %     2.91 %     2.89 %     2.87 %
                                                           
    1. Includes investment securities at adjusted amortized cost.
    2. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    3. The interest on tax-exempt securities is calculated on a tax-equivalent basis assuming a Federal income tax rate of 21%.

    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
    ASSET QUALITY DATA: 2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Allowance for Credit Losses – Loans                                        
    Beginning balance $ 48,041     $ 51,082     $ 48,964     $ 48,041     $ 44,678     $ 43,952     $ 43,075  
    Net loan charge-offs (recoveries):                                        
    Commercial business   1,960       (30 )     1,903       57       131       (3 )     7  
    Commercial mortgage–construction   –       –       –       –       –       –       –  
    Commercial mortgage–multifamily         –       –       –       –       13       –  
    Commercial mortgage–non-owner occupied   595       (2 )     596       (1 )     (5 )     (1 )     (1 )
    Commercial mortgage–owner occupied   (2 )     (2 )     (1 )     (1 )     (1 )     (2 )     (2 )
    Residential real estate loans   133       100       92       41       (4 )     (1 )     96  
    Residential real estate lines   27       –       27       –       –       –       –  
    Consumer indirect   3,091       3,817       942       2,149       2,557       1,553       844  
    Other consumer   615       360       491       124       100       106       178  
    Total net charge-offs (recoveries)   6,419       4,243       4,050       2,369       2,778       1,665       1,122  
    Provision (benefit) for credit losses – loans   5,669       (2,887 )     2,377       3,292       6,141       2,391       1,999  
    Ending balance $ 47,291     $ 43,952     $ 47,291     $ 48,964     $ 48,041     $ 44,678     $ 43,952  
                                             
    Net charge-offs (recoveries) to average loans (annualized):                                        
    Commercial business   0.57 %     -0.01 %     1.06 %     0.03 %     0.80 %     0.00 %     0.00 %
    Commercial mortgage–construction   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–multifamily   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.01 %     0.00 %
    Commercial mortgage–non-owner occupied   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–owner occupied   0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Residential real estate loans   0.04 %     0.03 %     0.06 %     0.03 %     0.00 %     0.00 %     0.06 %
    Residential real estate lines   0.07 %     0.00 %     0.14 %     0.00 %     0.00 %     0.00 %     0.00 %
    Consumer indirect   0.74 %     0.83 %     0.45 %     1.03 %     1.18 %     0.70 %     0.38 %
    Other consumer   3.04 %     1.51 %     4.99 %     1.19 %     0.91 %     0.95 %     1.62 %
    Total loans   0.29 %     0.19 %     0.36 %     0.21 %     0.25 %     0.15 %     0.10 %
                                             
    Supplemental information (1)                                        
    Non-performing loans:                                        
    Commercial business $ 3,671     $ 5,680     $ 3,671     $ 5,672     $ 5,609     $ 5,752     $ 5,680  
    Commercial mortgage–construction   19,621       4,970       19,621       19,684       20,280       20,280       4,970  
    Commercial mortgage–multifamily   –       183       –       –       –       71       183  
    Commercial mortgage–non-owner occupied   164       4,919       164       4,766       4,773       4,903       4,919  
    Commercial mortgage–owner occupied   –       380       –       349       354       366       380  
    Residential real estate loans   5,885       5,961       5,885       6,035       6,918       5,790       5,961  
    Residential real estate lines   299       183       299       316       253       232       183  
    Consumer indirect   2,571       2,897       2,571       2,917       3,157       3,291       2,897  
    Other consumer   225       36       225       279       62       57       36  
    Total non-performing loans   32,436       25,209       32,436       40,018       41,406       40,742       25,209  
    Foreclosed assets   142       63       142       196       60       109       63  
    Total non-performing assets $ 32,578     $ 25,272     $ 32,578     $ 40,214     $ 41,466     $ 40,851     $ 25,272  
                                             
    Total non-performing loans to total loans   0.72 %     0.57 %     0.72 %     0.88 %     0.92 %     0.93 %     0.57 %
    Total non-performing assets to total assets   0.53 %     0.41 %     0.53 %     0.63 %     0.68 %     0.66 %     0.41 %
    Allowance for credit losses – loans to total loans   1.04 %     0.99 %     1.04 %     1.08 %     1.07 %     1.01 %     0.99 %
    Allowance for credit losses – loans to non-performing loans   146 %     174 %     146 %     122 %     116 %     110 %     174 %
                                                           
    1. At period end.

    FINANCIAL INSTITUTIONS, INC.
    Appendix A — Reconciliation to Non-GAAP Financial Measures (Unaudited)
    (In thousands, except per share amounts)

      Six Months Ended     2025     2024  
      June 30,     Second     First     Fourth     Third     Second  
      2025     2024     Quarter     Quarter     Quarter     Quarter     Quarter  
    Ending tangible assets:                                        
    Total assets             $ 6,143,766     $ 6,340,492     $ 6,117,085     $ 6,156,317     $ 6,131,772  
    Less: Goodwill and other intangible assets, net               60,564       60,651       60,758       60,867       60,979  
    Tangible assets             $ 6,083,202     $ 6,279,841     $ 6,056,327     $ 6,095,450     $ 6,070,793  
                                             
    Ending tangible common equity:                                        
    Common shareholders’ equity             $ 584,383     $ 572,643     $ 551,699     $ 483,050     $ 450,375  
    Less: Goodwill and other intangible assets, net               60,564       60,651       60,758       60,867       60,979  
    Tangible common equity             $ 523,819     $ 511,992     $ 490,941     $ 422,183     $ 389,396  
                                             
    Tangible common equity to tangible assets(1)               8.61 %     8.15 %     8.11 %     6.93 %     6.41 %
                                             
    Common shares outstanding               20,128       20,110       20,077       15,474       15,472  
    Tangible common book value per share(2)             $ 26.02     $ 25.46     $ 24.45     $ 27.28     $ 25.17  
                                             
    Average tangible assets:                                        
    Average assets $ 6,218,412     $ 6,189,594     $ 6,216,657     $ 6,220,187     $ 6,121,449     $ 6,018,390     $ 6,153,429  
    Less: Average goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Average tangible assets $ 6,157,749     $ 6,121,943     $ 6,156,047     $ 6,159,470     $ 6,060,625     $ 5,957,454     $ 6,090,536  
                                             
    Average tangible common equity:                                        
    Average common equity $ 570,778     $ 434,975     $ 579,538     $ 561,921     $ 499,910     $ 465,986     $ 432,208  
    Less: Average goodwill and other intangible assets, net   60,663       67,651       60,610       60,717       60,824       60,936       62,893  
    Average tangible common equity $ 510,115     $ 367,324     $ 518,928     $ 501,204     $ 439,086     $ 405,050     $ 369,315  
                                             
    Net income (loss) available to common shareholders $ 33,681     $ 26,970     $ 17,168     $ 16,513     $ (83,176 )   $ 13,101     $ 25,265  
    Return on average tangible common equity(3)   13.31 %     14.77 %     13.27 %     13.36 %     -75.36 %     12.87 %     27.51 %
                                             
    1. Tangible common equity divided by tangible assets.
    2. Tangible common equity divided by common shares outstanding.
    3. Net income available to common shareholders (annualized) divided by average tangible common equity.

    The MIL Network –