NewzIntel.com

Category: Americas

  • MIL-OSI USA: Pingree Leads Bipartisan, Bicameral Push to Protect Drinking Water as Communities Face Rising Contamination Threats

    Source: United States House of Representatives – Congresswoman Chellie Pingree (1st District of Maine)

    As drinking water contamination from toxic “forever chemicals,” also known as per- and polyfluoroalkyl substances (PFAS), increasingly threatens communities in Maine and across the country, U.S. Representatives Chellie Pingree (D-Maine) and David Rouzer (R-N.C.) have reintroduced the bipartisan Healthy Drinking Water Affordability Act, or the Healthy H2O Act. The legislation, introduced in the Senate by Tammy Baldwin (D-Wisc.) and Susan Collins (R-Maine), provides grants for water testing and treatment technology directly to individuals and nonprofits in rural communities. Systems that improve water quality—whether installed at the faucet or within a building—can provide immediate and ongoing protections from known and emerging water contaminants, including PFAS, lead, and nitrates. 

    “The Healthy H2O Act will help make water testing and treatment technology more accessible here in Maine, and in rural communities across the country, especially for families on private wells who are too often left to navigate contamination risks on their own,” said Pingree. “As national protections face delays and uncertainty, local communities can’t afford to wait. This bipartisan bill gives them the tools to identify and address harmful chemicals like PFAS and lead at the tap—so they can be confident the water they’re drinking is safe.”

    “The Healthy H2O Act helps rural residents in the Cape Fear Valley gain access to safe, clean drinking water—free from harmful contaminants like GenX, PFAS, and PFOS,” said Rouzer. “As city and county water systems continue upgrading to address these pollutants, this legislation ensures rural communities aren’t left behind by supporting testing and the installation of effective filtration systems to remove these ‘forever chemicals.’”

    “All Wisconsin families, businesses, and communities should trust that the water coming out of their faucets is safe to drink, but across our state, rural communities are struggling to identify and treat chemicals like PFAs that endanger our health, especially for children,” said Senator Baldwin. “My bipartisan legislation ensures our small and rural communities aren’t left behind and makes sure they have what they need to find and get rid of dangerous chemicals and keep our families healthy.”

    “Maintaining and upgrading water and wastewater systems is vital to ensuring the economic and environmental health of our communities,” said Senator Collins. “This bipartisan legislation will help reduce health-based contaminants like PFAS in drinking water, increase consumer confidence, and protect public health.”

    The Healthy H2O Act would provide funding for point-of-use water treatment systems, such as under-sink filters, that can deliver immediate protections. Nearly 43 million U.S. households— primarily in rural areas—depend on private wells that are not regularly monitored under federal or state drinking water programs, leaving many communities vulnerable to contamination.

    The Healthy H2O Act is supported by:

    • Water Quality Association 
    • American Supply Association 
    • Plumbing Manufacturers International (PMI) 
    • Rural Community Assistance Partnership (RCAP) 
    • National Groundwater Association (NGWA) 
    • High Performance Building Coalition 
    • NSF International 
    • Water Systems Council 
    • Water Well Trust 
    • The Groundwater Foundation 
    • International Association of Plumbing and Mechanical Officials (IAPMO) 
    • International Code Council (ICC) 
    • DigDeep 
    • California Ground Water Association 
    • Eastern Water Quality Association (EWQA) 
    • Florida Groundwater Association 
    • Florida Water Quality Association (FWQA) 
    • Illinois Association of Groundwater Professionals 
    • Iowa Water Quality Association 
    • Kentucky Groundwater Association 
    • Michigan Ground Water Association 
    • Minnesota WQA (MWQA) 
    • Minnesota Water Well Association 
    • Montana Water Well Drillers Association 
    • Nebraska On-Site Wastewater Association 
    • Nebraska State Irrigation Association 
    • Nebraska Water Leaders Academy 
    • Nebraska Well Drillers Association 
    • Ohio Water Quality Association (OWQA) 
    • Ohio Water Well Association 
    • Pacific Water Quality Association (PWQA) 
    • Pennsylvania Groundwater Association 
    • Texas Water Quality Association (TWQA) 
    • Virginia Water Well Association 
    • Water Council of Milwaukee 
    • Water Quality Association of Wisconsin 
    • Well Drillers Association of Wisconsin

    “We applaud Representatives Pingree and Rouzer for introducing the Healthy H2O Act that will increase access to safer drinking water in rural communities,” said Pauli Undesser, Executive Director of the Water Quality Association. “This grant program will help Americans who are most vulnerable to contaminants in their water supply – children, the elderly, and households that rely on private wells. By increasing access to testing and water filtration products, we can support the health and safety of these communities.”

    “Too often, rural communities across the country face barriers to accessing clean, safe drinking water,” said National Ground Water Association President Eric Macias. “The Healthy H2O Act is a real step forward, delivering resources to help families test and treat their water. This legislation reflects the kind of commonsense investment that can truly improve lives, and we commend Congresswoman Pingree for her leadership on this important issue.”

    Pingree, who serves on the House Agriculture Committee, has long championed PFAS clean-up and clean drinking water legislation. She proudly supported the Infrastructure Investment and Jobs Act, which included a $55 billion investment to replace lead service lines, $10 billion to address PFAS chemicals, and investments in water infrastructure across America, including in Tribal Nations and underserved communities that need it most.

    As Chair of the Interior Appropriations Subcommittee, which oversees funding for the EPA, in the 117th Congress and as Ranking Member in the 118th and 119th Congresses, Pingree has championed funding to clean up PFAS contamination. In the Fiscal Year 2024 government funding bill signed by President Biden, Pingree secured $8 million for the EPA to work with the U.S. Department of Agriculture to further research on PFAS contamination in agriculture, as well as $5 million to assist farmers whose land has been contaminated by PFAS.

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    MIL OSI USA News –

  • MIL-OSI USA: Representatives Massie and Pingree Introduce Bipartisan PRIME Act to Empower Local Livestock Farmers, Meet Consumer Demand

    Source: United States House of Representatives – Congressman Thomas Massie (4th District of Kentucky)

    For Immediate Release

    Contact:

    John Kennedy, 202-225-3465 (Massie)
    Gabrielle Mannino, 207-509-5904 (Pingree)


    Washington, D.C    .- Representative Thomas Massie (R-KY) and Representative Chellie Pingree (D-ME) announce the re-introduction of the PRIME (Processing Revival and Intrastate Meat Exemption) Act to make it easier for small farms and ranches to serve consumers. The PRIME Act (H.R. 4700) would give individual states freedom to permit intrastate distribution of custom-slaughtered meat such as beef, pork, or lamb to consumers, restaurants, hotels, boarding houses, and grocery stores. 

    “Consumers want to know where their food comes from, what it contains, and how it’s processed. Yet federal inspection requirements make it difficult to purchase food from trusted, local farmers,” said Rep. Thomas Massie. “It is time to open our markets to give producers the freedom to succeed and consumers the freedom to choose.”

     “Consumers at the grocery store increasingly want quality, locally-grown food, but existing regulations and supply chain vulnerabilities don’t make it easy for them to access. In rural states like Maine, farmers often have to drive hundreds of miles just to get their livestock processed. We can and must do more to bolster our local food systems,” said Rep. Chellie Pingree. “The PRIME Act is a commonsense, bipartisan solution that strengthens infrastructure for local meat processing, supports family farms, and gives consumers easier access to locally raised food—along with greater transparency about where that food comes from.”

    Current law exempts custom slaughter of animals from federal inspection regulations, but only if the meat is slaughtered for personal, household, guest, and employee use (21 U.S.C. § 623(a)). This means that in order to sell individual cuts of locally raised meats to consumers, farmers and ranchers must first send their animals to one of a limited number of USDA-inspected slaughterhouses. These USDA-inspected slaughterhouses are sometimes hundreds of miles away from farms and ranches, adding substantial transportation costs and increasing the chances of locally raised meat co-mingling with industrially produced meat. The PRIME Act would expand the current custom exemption and allow small farms, ranches, and slaughterhouses to thrive.

    Original co-sponsors of the PRIME Act include: Rep. Jodey Arrington (R-TX), Rep. Michael Baumgartner (R-WA), Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), Rep. Josh Brecheen (R-OK), Rep. Tim Burchett (R-TN), Rep. Eric Burlison (R-MO), Rep. John Carter (R-TX), Rep. Ben Cline (R-VA), Rep. Michael Cloud (R-TX), Rep. Andrew Clyde (R-GA), Rep. Warren Davidson (R-OH), Rep. Byron Donalds (R-FL), Rep. Brandon Gill (R-TX), Rep. Jared Golden (D-ME), Rep. Paul Gosar (R-AZ), Rep. Marjorie Taylor Greene (R-GA), Rep. Glenn Grothman (R-WI), Rep. Harriet Hageman (R-WY), Rep. Diana Harshbarger (R-TN), Rep. Jared Huffman (D-CA), Rep. Laurel Lee (R-FL), Rep. Teresa Leger Fernandez (D-NM), Rep. Nancy Mace (R-SC), Rep. Celeste Maloy (R-UT), Rep. Tom McClintock (R-CA), Rep. Mary Miller (R-IL), Rep. Cory Mills (R-FL), Rep. Blake Moore (R-UT), Rep. Troy Nehls (R-TX), Rep. Andy Ogles (R-TN), Rep. Burgess Owens (R-UT), Rep. Scott Perry (R-PA), Rep. Chip Roy (R-TX), Rep. Maria Salazar (R-FL), Rep. Keith Self (R-TX), Rep. Lloyd Smucker (R-PA), Rep. Victoria Spartz (R-IN), Rep. Tom Tiffany (R-WI), Rep. Jill Tokuda (D-HI), and Rep. David Valadao (R-CA). 

    Companion legislation, S.2409, has been introduced in the United States Senate by Senators Angus King (I-ME) and Rand Paul (R-KY).

    Massie raises cattle on his off-the-grid farm in northeast Kentucky. Pingree raises grass-fed beef and chickens on her island farm in North Haven, Maine.

    The text of the PRIME Act is available at this link. 

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    MIL OSI USA News –

  • MIL-OSI USA: Representatives Massie and Pingree Introduce Bipartisan PRIME Act to Empower Local Livestock Farmers, Meet Consumer Demand

    Source: United States House of Representatives – Congressman Thomas Massie (4th District of Kentucky)

    For Immediate Release

    Contact:

    John Kennedy, 202-225-3465 (Massie)
    Gabrielle Mannino, 207-509-5904 (Pingree)


    Washington, D.C    .- Representative Thomas Massie (R-KY) and Representative Chellie Pingree (D-ME) announce the re-introduction of the PRIME (Processing Revival and Intrastate Meat Exemption) Act to make it easier for small farms and ranches to serve consumers. The PRIME Act (H.R. 4700) would give individual states freedom to permit intrastate distribution of custom-slaughtered meat such as beef, pork, or lamb to consumers, restaurants, hotels, boarding houses, and grocery stores. 

    “Consumers want to know where their food comes from, what it contains, and how it’s processed. Yet federal inspection requirements make it difficult to purchase food from trusted, local farmers,” said Rep. Thomas Massie. “It is time to open our markets to give producers the freedom to succeed and consumers the freedom to choose.”

     “Consumers at the grocery store increasingly want quality, locally-grown food, but existing regulations and supply chain vulnerabilities don’t make it easy for them to access. In rural states like Maine, farmers often have to drive hundreds of miles just to get their livestock processed. We can and must do more to bolster our local food systems,” said Rep. Chellie Pingree. “The PRIME Act is a commonsense, bipartisan solution that strengthens infrastructure for local meat processing, supports family farms, and gives consumers easier access to locally raised food—along with greater transparency about where that food comes from.”

    Current law exempts custom slaughter of animals from federal inspection regulations, but only if the meat is slaughtered for personal, household, guest, and employee use (21 U.S.C. § 623(a)). This means that in order to sell individual cuts of locally raised meats to consumers, farmers and ranchers must first send their animals to one of a limited number of USDA-inspected slaughterhouses. These USDA-inspected slaughterhouses are sometimes hundreds of miles away from farms and ranches, adding substantial transportation costs and increasing the chances of locally raised meat co-mingling with industrially produced meat. The PRIME Act would expand the current custom exemption and allow small farms, ranches, and slaughterhouses to thrive.

    Original co-sponsors of the PRIME Act include: Rep. Jodey Arrington (R-TX), Rep. Michael Baumgartner (R-WA), Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), Rep. Josh Brecheen (R-OK), Rep. Tim Burchett (R-TN), Rep. Eric Burlison (R-MO), Rep. John Carter (R-TX), Rep. Ben Cline (R-VA), Rep. Michael Cloud (R-TX), Rep. Andrew Clyde (R-GA), Rep. Warren Davidson (R-OH), Rep. Byron Donalds (R-FL), Rep. Brandon Gill (R-TX), Rep. Jared Golden (D-ME), Rep. Paul Gosar (R-AZ), Rep. Marjorie Taylor Greene (R-GA), Rep. Glenn Grothman (R-WI), Rep. Harriet Hageman (R-WY), Rep. Diana Harshbarger (R-TN), Rep. Jared Huffman (D-CA), Rep. Laurel Lee (R-FL), Rep. Teresa Leger Fernandez (D-NM), Rep. Nancy Mace (R-SC), Rep. Celeste Maloy (R-UT), Rep. Tom McClintock (R-CA), Rep. Mary Miller (R-IL), Rep. Cory Mills (R-FL), Rep. Blake Moore (R-UT), Rep. Troy Nehls (R-TX), Rep. Andy Ogles (R-TN), Rep. Burgess Owens (R-UT), Rep. Scott Perry (R-PA), Rep. Chip Roy (R-TX), Rep. Maria Salazar (R-FL), Rep. Keith Self (R-TX), Rep. Lloyd Smucker (R-PA), Rep. Victoria Spartz (R-IN), Rep. Tom Tiffany (R-WI), Rep. Jill Tokuda (D-HI), and Rep. David Valadao (R-CA). 

    Companion legislation, S.2409, has been introduced in the United States Senate by Senators Angus King (I-ME) and Rand Paul (R-KY).

    Massie raises cattle on his off-the-grid farm in northeast Kentucky. Pingree raises grass-fed beef and chickens on her island farm in North Haven, Maine.

    The text of the PRIME Act is available at this link. 

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    MIL OSI USA News –

  • MIL-OSI USA: Chairman Cotton to Hegseth: Current DoD Agreements and Practices Fail to Account for Threat of China

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton
    FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353July 24, 2025
    Chairman Cotton to Hegseth: Current DoD Agreements and Practices Fail to Account for Threat of China
    Washington, D.C. — Senator Tom Cotton (R-Arkansas), Chairman of the Senate Select Committee on Intelligence, today sent a letter to Secretary of Defense Pete Hegseth requesting additional information about agreements and practices that currently fail to account for the growing threat of Communist China. This letter follows one sent by Senator Cotton last week about reports of China-based contractors for Microsoft potentially having access to sensitive military data.
    In part, Senator Cotton wrote:
    “While I applaud your actions, I am concerned that the Department is hampered by agreements and practices unwisely adopted by your predecessors, including contracts and oversight processes that fail to account for the growing Chinese threat.”
    Full text of the letter may be found here and below.
    The Honorable Pete HegsethSecretary of DefenseU.S. Department of Defense1000 Defense PentagonWashington, DC 20301
    Dear Secretary Hegseth:
    I write to commend the Department’s prompt response to last week’s inquiry about Microsoft’s use of Chinese engineers to provide services for Department of Defense (DoD) systems. Your vow that “China will no longer have any involvement in our cloud services, effective immediately” and plans for a two-week review of current cloud contracts underscore the urgency required to address this security risk.
    While I applaud your actions, I am concerned that the Department is hampered by agreements and practices unwisely adopted by your predecessors, including contracts and oversight processes that fail to account for the growing Chinese threat. As we learn more about these “digital escorts” and other unwise—and outrageous—practices used by some DoD partners, it is clear the Department and Congress will need to take further action. We must put in place the protocols and processes to adopt innovative technology quickly, effectively, and safely.
    To inform Congress as we work with you to close the vulnerabilities in the DoD supply chain, I respectfully request the following information by August 15, 2025.
    The results of the two-week review, including but not limited to:
    Details on what services Chinese engineers provided
    What information or data was shared with Chinese engineers
    Mechanisms Chinese engineers used to access, maintain, or service DoD systems, such as screen sharing, remote management, or instructions to run scripts
    What information, if any, was recorded or documented by DoD when Chinese engineers were working with DoD systems
    How often Microsoft or other providers that utilized this digital escort model conducted self-audits and the results of all such self-audits
    Any discovery of potential security incidents or malicious events that have already occurred or are likely to occur

    All security classification guides provided to Microsoft or other contractors under the Joint Warfighting Cloud Capability (JWCC) program
    Any plans to implement a DoD-wide review of contracting practices and DoD guidance to prevent a contractor from leveraging loopholes that place DoD systems at risk
    I look forward to working with you on this important matter.
    Sincerely,
    Tom Cotton
    United States Senator
     

    MIL OSI USA News –

  • MIL-OSI USA: Lee Bills Ban D.C. Council’s Secret Meetings, Close “Emergency” Loophole

    US Senate News:

    Source: United States Senator for Utah Mike Lee
    WASHINGTON – U.S. Senator Mike Lee (R-UT) introduced legislation today overturning a recent move by the City Council of the District of Columbia (DC) to hold secret planning meetings in retaliation against President Trump’s recent executive order to improve the city’s crime rates and cleanliness. The legislation includes a Joint Resolution outlawing the City Council’s secret meetings and a bill to close an “emergency” loophole used to evade Congressional oversight and public input. U.S. Representative Harriet Hageman (R-WY) led companion legislation in the House of Representatives.
    “D.C.’s corrupt City Council is taking out its hatred for President Trump on the nation’s capital by holding secret meetings, breaking with longstanding rules,” said Senator Mike Lee. “Americans deserve transparency from Washington – not petty corruption and secret political vendettas. My legislation will ban the Council’s shady meetings and remove the loophole they’ve exploited to keep their citizens in the dark.”
    “The American people deserve transparency, not backroom deals and political scheming,” said Congresswoman Harriet Hageman. “The Council of the District of Columbia and Mayor attempting to eliminate and bypass open meeting laws is nothing more than a partisan tactic to hide their agenda and undermine President Trump’s efforts to restore safety and order in our nation’s capital. It is Congress’ duty to oversee D.C., and I will not sit back while D.C. officials plot in secret to defy federal authority and destroy public trust. This bill ensures D.C. officials are accountable to the public and Congress and can no longer hide behind closed-door meetings.”
    Background
    The Constitution of the United States and standing D.C. law both require the D.C. City Council be subject to congressional checks and balances. Article I, Section 8 of the Constitution requires Congress “to exercise exclusive legislation in all cases whatsoever” related to D.C. governance. But in retaliation against President Trump’s efforts to clean up the city, the City Council has stripped itself of the transparency it owes the American public in favor of secret planning meetings.
    The Council has exploited emergency loopholes to insulate itself from congressional disapproval and plot against the President’s agenda to improve the city’s safety and cleanliness. While actions by D.C.’s City Council are normally mutable by a vote of disapproval from Congress, current law allows immunity from this oversight in the case of emergency actions. The Council has wrongfully categorized its vendetta against President Trump an “emergency” in a politically-motivated move that even the American Civil Liberties Union (ACLU) of D.C. dubbed a slippery slope, as “it is undisputed that public access to government meetings is a cornerstone of our democracy.”
    Senator Lee’s Joint Resolution will overturn the City Council’s move to hold secret meetings, and the corresponding bill will close the “emergency” loophole currently allowing the Council to evade Congressional oversight and hide from the American people.
    Read exclusive coverage from The Washington Post here.

    MIL OSI USA News –

  • MIL-OSI United Nations: Deep-sea must not turn into ‘Wild West’ of rare minerals exploitation, agency head says

    Source: United Nations 2

    Marking its 30th anniversary, ISA is the world’s authority on the deep-sea beyond national jurisdiction. Washington may have passed an order on deep-sea licensing in international waters earlier this year, but the authority’s chief Leticia Carvalho said the United States, which is not an ISA member, “is going at it alone”.

    “The rest of the world is united and cohesive and all behind of the rule of the law and the International Seabed Authority,” Ms. Carvalho told UN News. “ISA is a super power. We have all the knowledge, we have the ability given by the law, we have the mandate.”

    Indeed, under international law, the deep seabed beyond national jurisdiction belongs to no single nation, Ms. Carvalho said, inviting the United States to join ISA.

    To address these concerns, ISA has been drafting a mining code as a way to ensure that the deep-sea remains protected and does not turn into the “Wild West” of exploitation, she said.

    Read our explainer on ISA and why it matters now here.

    Costly search for rare minerals

    Rare minerals needed to satiate demands for producing tech items from batteries to solar panels have driven interest in the deep-sea and what it offers. From cobalt to zinc, a plethora of rare earth minerals have been observed by explorations of the ocean floor.

    ISA has issued 31 contracts for mineral exploration to 21 firms from 20 countries as of 2024, according to the UN’s World Economic Situation and Report 2025. While commercial mining in international waters has not yet commenced, pending the finalisation of an international code for deep-sea mining by the ISA, right now, countries can pursue deep-sea mining within their own territorial waters or “exclusive economic zones”.

    Even after the international code is in place, those engaged in deep-sea mining will continue to face major challenges due to high capital requirements and operational costs relative to conventional mining and the enormous technical uncertainties associated with the unique problems surrounding mining on the ocean floor, according to the UN report.

    ‘One of our last frontiers’

    UN Secretary-General António Guterres said the international seabed is “the common heritage of humankind, a principle enshrined in the UN Convention on the Law of the Sea, which must continue to guide us”.

    “We must bring together our global efforts in climate action, biodiversity preservation and marine protection,” he said in a message marking ISA’s anniversary, commending its commitment to finding balanced and effective solutions. “The deep ocean remains one of our last frontiers. It holds great promise, but also requires great caution.”

    For 30 years, the authority has helped protect this shared realm through peaceful, sustainable and inclusive governance, and today, it is navigating complex challenges with care and clarity, he said, emphasising that “as we mark this milestone, let us advance cooperation grounded in science, and keep working together to safeguard the ocean for the benefit of all people, everywhere.”

    The deep-sea contains a plethora of life and rare earth minerals.

    Mining code and more

    In addition to achieving progress on a draft mining code at its ongoing annual session at headquarters in Kingston, Jamaica, ISA launched its Deep-Sea Biobank last month in a bid to preserve and share knowledge.

    The initiative aims to collect and preserve samples from the ocean floor that will benefit all nations, especially developing countries, Ms. Carvalho said, adding that the goal is to study the minerals, exploration and exploitation potential, but also to preserve and to study biodiversity and genetics.

    “The future that I see is we need to really take care, cherish [and] nurture the deep-sea,” Ms. Carvalho said. “The future of ISA is stronger, enhanced, wider and wiser. We will know much more than we know now.”

    Learn more about ISA here.

    MIL OSI United Nations News –

  • MIL-OSI Canada: Parliamentary Secretary Rochefort to announce Government of Canada investment in innovative and sustainable economic development

    Source: Government of Canada News

    Temiskaming Shores, ON, July 24, 2025 — Pauline Rochefort, Parliamentary Secretary to the Secretary of State (Rural Development), and Member of Parliament for Nipissing-Timiskaming, will announce funding in support of local and regional economic development across Northern Ontario. The announcement will be made on behalf of the Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for FedNor.

    PS Rochefort and event participants will be available for questions from the media following the announcement.

    Funding Announcement

    Date:               Friday, July 25, 2025

    Time:               1:30 p.m.

    Location:        City of Temiskaming Shores City Hall
                              325 Farr Dr.
                              Haileybury, Ontario

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Honorary King’s Counsel nominations: deadline 19 September 2025

    Source: United Kingdom – Executive Government & Departments

    News story

    Honorary King’s Counsel nominations: deadline 19 September 2025

    The Ministry of Justice is inviting nominations for the award of King’s Counsel Honoris Causa. Please submit nominations via the digital form below, before the deadline of 19 September 2025.

    The Ministry of Justice (MOJ) is inviting nominations for the award of King’s Counsel Honoris Causa.

    Nomination forms must be completed and returned to MOJ by 23:55 on Friday 19 September 2025. To make a nomination, please complete and submit a nomination form via this link..

    KC HONORIS CAUSA – HONORARY KC

    This is an honorary award unique to the legal profession. It is a dedicated opportunity, made by royal prerogative, to recognise those in the profession who have made a major contribution to, and impact on, the legal sector and the law of England and Wales outside the courtroom.

    The award is not a working rank and is separate to substantive KC appointments administered by King’s Counsel Appointments. Where someone is eligible to apply for substantive KC in their role, we would not normally consider them for an Honorary KC award.

    Please note that anyone nominated may be subject to criminal record checks with the ACRO Criminal Records Office.

    What is the award for?

    The award is for:

    A significant, positive impact either on the shape of the law of England and Wales, or on the legal profession. This is for work outside the courtroom.

    This criterion can be interpreted broadly, either as:

    • a major contribution to the development of the law of England and Wales (for example, by dedicated research, influencing case law/ legislation and promoting initiatives),
    • to how it is advanced (for example, by positively impacting the shape of the profession)

    What is most important is that nominations clearly evidence the significant, positive impact an individual’s efforts have had.

    It is not a long-service award. Honours may be awarded for a significant impact over a long period of time, but they may equally be awarded for such an impact over a shorter period – it is the scale of impact that is important.

    We are keen to recognise diversity within the profession, with awards that reflect the range of different legal careers and different backgrounds that make up the profession. You can see examples of previous successful nominees by viewing their biographies via this link.

    Examples of what these different contributions may look like

    Influencing legislation

    • Making an impact on the law by influencing legislation or case law (e.g. through outcome of research, creating awareness or campaigning, pro bono work or other advocacy outside the courtroom).

    Social mobility and diversity

    • Making a considerable impact on the legal profession (e.g. through initiatives that have an impact on social mobility or diversity and increase the competitiveness of the sector).

    Innovation

    • Making an impact through a standout achievement or through innovation (e.g. by breaking through into new territory, such as making an impact through work on Lawtech, innovation in legal education, or on promoting UK legal services overseas).

    Academic work

    • Making an impact through outstanding academic work that makes a positive contribution to the law and/or legal system.

    Who is eligible?

    • To be eligible for the award, the individual must be a qualified lawyer or legal academic.
    • The nomination must be for achievement outside practice in the courts. In other words, an award would be made for non-advocacy work.
    • The award is open to foreign qualified professionals. There is no residency requirement.

    Examples of those eligible may include (but are not limited to):

    • Solicitors without higher rights of audience
    • Legal executives
    • In-house lawyers, including Counsel
    • Non-practising lawyers
    • Legal academics

    Holding a fee-paid judicial office in addition to practice would not exclude lawyers who meet the eligibility criteria above.

    How are awards made?

    The process is administered by the MOJ. Nominations are considered against the criterion by a panel of representatives from the legal profession, civil service, judiciary, and academia, which is chaired by an MOJ official.

    The panel of representatives provide the Lord Chancellor with recommendations of appointable nominees. The Lord Chancellor will then consider and decide the final recommendations. The recommendations are then referred to the King, who grants the awards under the royal prerogative.

    How is the information about nominees used?

    To assess each nominee’s suitability for the award and support the selection process, we use the information provided to carry out:

    • Cross-Whitehall checks to confirm whether the individual or their work may be known by, or of interest to, another government department
    • Checks against nominees on the main honours system as per the eligibility criteria
    • Evaluation by the selection panel of the individual’s legal qualifications and evidence of their contribution and impact on the law of England and Wales
    • Shortlisted nominees will undergo a criminal record check

    For more information on how we use and protect personal data, please refer to our privacy notice.

    Where someone from outside the legal profession has made a significant impact on the law of England and Wales, or how it is advanced, they would not qualify for this award. We would welcome those nominations as part of the main honours system.

    Scotland and Northern Ireland

    There is a separate Honorary King’s Counsel award in Scotland. There is no exact equivalent in Northern Ireland. However, this does not mean that achievements of a similar nature cannot be recognised. If you would like to nominate someone for an honour whose work is in Northern Ireland, you can contact the Honours Secretariat for Northern Ireland.

    Nominees and recipients of national honours

    Someone who has been honoured in the official UK honours system within the last two years, or who has been nominated for such an honour this year, would not be eligible to receive an Honorary KC award. Where someone was awarded an honour more than two years ago, the panel will consider the individual’s contribution to and impact on the law since that honour was awarded.

    How to make a nomination

    Please submit your nomination form using our digital form via this link.

    Please note that we will only accept nominations made via the digital form.

    If you are unable to use our digital form, or have any other questions, please contact HonoraryKC@justice.gov.uk.

    Frequently Asked Questions (FAQs)

    1. What is the process and timelines?

    • July: Nominations open
    • September: Nominations close
    • November: Panel meet and shortlist nominees
    • November: ACRO Criminal checks are conducted
    • December: Lord Chancellor makes final recommendations to the King
    • January: Successful nominees are announced
    • March: Ceremony

    These dates are provisional and subject to change

    2.Who can make a nomination?

    Anyone can make a nomination. You do not need to have a legal background or reside in the UK.

    3.Do I need to be a practising barrister or solicitor to be nominated?

    No. You do not need to be practising, although you do need to be a qualified lawyer or legal academic to be eligible. The award is for achievements outside the courtroom.

    4.Can I make more than one nomination?

    Yes. You may nominate as many people as you like, but please ensure that you submit separate nomination forms.

    5.Is there a limit to the number of nominations for an individual?

    No. An individual can be nominated by multiple people.

    6.Can I nominate a foreign national?

    Yes. There are no nationality or residence requirements for the award.

    7.In order to be considered for the award, do I need multiple nominations?

    No. The scoring is not based on how many nominations an individual has received.

    8.Can I attach letters or statements in support of a nomination?

    No. Letters or statements of support will not be accepted. If others wish to endorse the nomination, you can list their name(s) in the relevant section of the form.

    9.What happens if I miss the deadline to apply?

    Unfortunately, we cannot consider any nomination past the deadline. We encourage you to submit your application when the next round of nominations open.

    Updates to this page

    Published 24 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Congressman Keith Self and Congresswoman Andrea Salinas Introduce Bipartisan Resolution Recognizing National Moon Landing Day

    Source:

    Congressman Keith Self (TX-03) and Congresswoman Andrea Salinas (OR-06) introduced a bipartisan resolution designating July 20, 2025, as “National Moon Landing Day,” commemorating the anniversary of the Apollo 11 mission—the first crewed lunar landing in history. 

    “Fifty-six years ago, America did what the world thought was impossible and sent mankind to the Moon, proving that America doesn’t follow—we lead,” Congressman Self said. “Our dedication to space exploration reflects who we are as Americans—pioneers, problem-solvers, and patriots. As a member of the House Science, Space, and Technology Committee, I am proud to introduce this resolution with Congresswoman Salinas, honoring the bravery of our astronauts, the ingenuity of our engineers, and the enduring spirit of American exploration.” 

    “In celebration of one of our country’s greatest scientific achievements, we honor the scientists, engineers, and astronauts who made it possible,” Congresswoman Salinas said. “As a proud member of the House Science, Space, and Technology Committee, I introduced the resolution to establish National Moon Landing Day because this anniversary deserves recognition. National Moon Landing Day isn’t just about looking back—it’s about inspiring the next generation to dream big, explore boldly, and ensure the United States continues to lead the world in science and innovation.”

    The resolution encourages Americans to celebrate the legacy of NASA’s human spaceflight programs.  By honoring the astronauts of the Mercury, Gemini, and Apollo missions, as well as the thousands of workers and craftspeople, we recognize the innovation and dedication that made human space exploration possible.  

    This legislation encourages the public to remember those fallen astronauts who gave their lives in pursuit of discovery. It encourages Americans to educate each other about the economic, societal, and health benefits of space exploration. Furthermore, the resolution will inspire the next generation to pursue careers in science, technology, engineering, and mathematics (STEM), while also recognizing America’s continued leadership in space through the Artemis missions and the Moon to Mars Program. 

    ###

    MIL OSI USA News –

  • MIL-OSI: Mark Cuban Foundation and Who We Play For Bring Free AI Bootcamp to Melbourne Teens

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Fla., July 24, 2025 (GLOBE NEWSWIRE) — High school students in Melbourne have the chance to get hands-on experience with artificial intelligence through a free AI Bootcamp launched by the Mark Cuban Foundation, in partnership with Who We Play For and Groundswell Startups. Applications close September 30.

    This event brings the only artificial intelligence (AI) camp of its kind, free of charge, to the Space Coast. With a custom and highly-relevant curriculum focused on teaching students about the latest developments in the world of AI and Generative AI, the camp will provide the tools to make these technologies work for them and promises to educate, inspire and fuel the next generation of AI professionals.

    The program aims to provide students with a foundational understanding of artificial intelligence and its applications to future careers. Students can select from six tracks: healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. Driven by the belief that fostering interest in AI at a young age is crucial for preparing the next generation for their future, the AI Bootcamps are introductory and accessible to students in 9-12 grade with an interest in technology. Students do not need any familiarity with computer science or programming to attend.

    This free AI Bootcamp is hosted for underserved high school students with a transparent focus on recruiting girls, students of color, first generation college students, and those from low to moderate income households. The AI Bootcamp Program provides students with lunch and a snack, transportation assistance, and technology equipment during bootcamp.

    “As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” said Mark Cuban, founder. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with Who We Play For and Groundswell Startups, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

    This year’s bootcamp, taking place in Melbourne on November 1st, 8th, and 15th is hosted and staffed by Groundswell Startups and Who We Play For, two organizations dedicated to fostering innovation, growth, and opportunity on the Space Coast.

    Who We Play For, a nonprofit organization committed to preventing sudden cardiac death in young people by providing affordable and accessible heart screenings. Founded in memory of Rafe Maccarone, a local student-athlete who lost his life to sudden cardiac arrest in 2007, the organization works tirelessly to ensure that no family, team, or community has to experience a similar loss. Through partnerships with schools, sports clubs, and community organizations, Who We Play For brings non-invasive heart screenings to youth across the country while raising awareness about the importance of early detection and advocating for increased access to life-saving resources.

    Groundswell Startups, founded in 2016, is a non-profit incubator and coworking space bringing concepts to life and accelerating scalability for businesses ranging from tech to manufacturing in Florida’s Space Coast and around the Southeast region.

    “This partnership reflects what Groundswell was built to do,” said Groundswell Co-Founder Bud Deffebach. “Events like these empower the next generation of tech innovators to understand and utilize AI. We are proud to join with the Mark Cuban Foundation in providing this experience to local students.”

    This partnership is one of more than 25 selected to host camps across the U.S. and the only event hosted in Florida.

    “We are thrilled to partner with the Mark Cuban Foundation and Groundswell Startups to share insights on artificial intelligence and the importance of early exposure to emerging technologies. This partnership is a great opportunity to showcase how AI is driving meaningful impact in our work here at Who We Play For, and we are proud to bring the AI Bootcamp to our hometown,” said Who We Play For Technical Director, Klynton Holmes.

    There are just 9 weeks left until the September 30 deadline. Do not miss your chance—submit your application now, as spaces are limited.

    Apply for the bootcamp at: markcubanai.org.

    Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

    To learn more, visit markcubanai.org.

    This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

    About Mark Cuban Foundation’s AI Bootcamp Initiative
    The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays underserved 9th – 12th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

    About Who We Play For

    WWPF represents every young person who lost their life to sudden cardiac arrest (SCA). Our fight is to ensure that other families, teams, and communities will never know that pain.

    On our mission to eliminate preventable sudden cardiac death in the young through affordable heart screenings, WWPF has screened over 450,000 youth across more than 500 communities throughout the United States. As a result of WWPF’s screening program, more than 450 youth with life threatening heart conditions have received immediate, life-saving medical intervention and thousands more are now aware of cardiac abnormalities that may increase their risk for SCA later in life.

    Alongside the world’s leaders in pediatric cardiology, our vision is to elevate the standard of care for ALL youth, no matter their level of athletics, socio-economic status or geographical location.

    About Groundswell Startups

    Groundswell, a nonprofit high-tech incubator in Florida’s Space Coast, serves as a hub that unites founders, mentors, investors, and trusted support services. Our mission is simple yet powerful: to envelop entrepreneurs in a supportive ecosystem abundant with resources. We pave the way for company building, industry disruption, and scalable growth. At Groundswell, we believe in empowering startups with the essential network and resources to thrive in the heart of the Space Coast’s innovation landscape. Learn more or find support for your startup idea at www.swellstartups.com.

    The MIL Network –

  • MIL-OSI: Drones Dominating the Skies with Increased Production Presenting a Rare Opportunity to Capitalize on Exponential Growth

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 24, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – A recent release from the Department of Defense (DOD) said that: “The Pentagon to Increase Low-Cost Drone Production in U.S. It said that the Defense Department, with help from industry, will ramp up production and fielding of drones to maintain battlefield superiority. Recently at the Pentagon, 18 American-made drone prototypes were on display. Defense Secretary Pete Hegseth, who toured the displays, said the drones that are manufactured using off-the-shelf components for rapid production are examples of disruptive thinking. Emil Michael, undersecretary of defense for research and engineering, said the prototypes on display went from concept to development in just an average of 18 months, a process that normally takes up to six years. The department will continue to rapidly innovate and scale up production of drones and other systems using cost, resilience, firepower and range as driving factors, which are areas DOD wants to improve upon,” Michael said. Hegseth said in a July 10, 2025, memorandum that he’s rescinding restrictive policies that hindered drone production. “Drones are the biggest battlefield innovation in a generation, accounting for most of this year’s casualties in Ukraine. Our adversaries collectively produce millions of cheap drones each year,” he said, noting the U.S. military is lacking needed quantities of lethal small drones.  Active Companies in the drone industries include ZenaTech, Inc. (NASDAQ: ZENA), Mercury Systems, Inc. (NASDAQ: MRCY), Safe Pro Group Inc. (NASDAQ: SPAI), RTX Corporation (NYSE: RTX), AIRO Group Holdings, Inc. (NASDAQ: AIRO).

    The DOD release added: “The secretary said there are three goals: Prioritizing the purchase of American-made drones and parts with help from industry’s private capital; Arming combat units with low-cost drones made by America’s world-leading engineers and artificial intelligence experts; and Training with drones in realistic battlefield scenarios, led by leaders who are not risk averse.” The report concluded: “President Donald J. Trump signed a June 6, 2025, executive order to speed up U.S. drone production using the latest innovative industry technologies. The president said he supports reducing regulatory uncertainty and streamlining approval and certification processes for safe and secure drone production. Also, the Federal Aviation Administration and DOD will coordinate to streamline the approval processes to expand access to airspace for conducting drone training, Trump said.”

    ZenaTech (NASDAQ:ZENA) ZenaDrone Partners with Eagle Point Funding to Win US Defense Customers – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a business technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, today announces that its subsidiary ZenaDrone has signed a strategic partnership agreement with Eagle Point Funding, a specialized consultancy for technology and defense-focused companies, to help win US defense contracts. By leveraging Eagle Point’s deep expertise in R&D grant program opportunities, the company will gain structured support in identifying and preparing competitive proposals, and in establishing and expanding relationships within key US defense and government agencies.

    “Our collaboration with Eagle Point Funding will accelerate testing, pilot deployments, and enable long-term procurement discussions—helping ZenaDrone to advance as a key provider of American-made drone solutions,” said Shaun Passley, Ph.D., ZenaTech CEO. “Their expertise in navigating federal R&D funding programs such as SBIR and Department of Defense solicitations (DoD BAA), gives us a powerful advantage as we develop next-generation drone technologies aligned with US defense priorities. This partnership enhances our ability to accelerate product development, expand defense agency relationships, and unlock new growth without equity dilution.”

    Eagle Point Funding helps technology companies secure non-dilutive federal R&D grants and contracts from agencies such as the DoD, Air Force, Navy, and others. They specialize in programs such as the Small Business Innovation Research (SBIR), Air Force Works (AFWERX), and the Defense Advanced Research Projects Agency (DARPA), guiding clients through the application process to win contracts.

    ZenaDrone has previously completed paid trials with the US Air Force and Navy Reserve, demonstrating its ability to deliver solutions including delivery of critical supplies such as blood in the field. The companies’ suite of drones for military use includes the ZenaDrone 1000, the IQ Nano and the IQ Square drone that are designed for a variety of applications including inspections, surveillance, reconnaissance, and indoor inventory management for warehouses and armories. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the drone industries include:

    Mercury Systems, Inc. (NASDAQ: MRCY), a technology company that delivers mission-critical processing to the edge, recently announced it signed two agreements with a European defense prime contractor to expand and accelerate production of processing subsystems and components for radar and electronic warfare missions.

    In June, Mercury extended this decades-long customer relationship with a five-year agreement that will enable faster, higher-volume production of sensor processing subsystems powered by Mercury’s HDS6605 6U OpenVPX multiprocessing boards for airborne, land-based, and sea-based radar systems.

    Safe Pro Group Inc. (NASDAQ: SPAI), a leader in artificial intelligence (AI)-powered defense and security solutions, recently announced the successful integration of its patented AI object detection models with drone platforms selected for the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record. Safe Pro is seeking to provide the U.S. Army’s future fleet of drones with enhanced explosive threat detection, force protection and essential intelligence, surveillance, and reconnaissance (ISR) capabilities utilizing the Company’s AI-powered computer vision technologies.

    This integration supports the U.S. Army’s evolving need for real-time threat detection and ISR capabilities across its next-generation drone fleet. Safe Pro’s proprietary computer vision technology enhances these drones with battlefield-proven AI models capable of rapidly identifying explosive threats and other hazards in complex environments.

    RTX Corporation (NYSE: RTX) recently reported second quarter 2025 results. “We continued our momentum in the second quarter with organic sales and profit growth* across all three segments, including 16 percent commercial aftermarket growth,” said RTX Chairman and CEO Chris Calio. “Our backlog grew to $236 billion, up 15 percent versus prior year, and we secured major awards for our geared turbofan engines and integrated air and missile defense capabilities in the quarter.”

    “Our updated outlook reflects strong operational performance in the first half and incorporates our current assessment of the impact of tariffs. We are focused on delivering on the strong growth in our commercial and defense end markets and remain well positioned to drive long term profitable growth.”

    AIRO Group Holdings, Inc (NASDAQ: AIRO), a global leader in advanced aerospace and defense technologies, recently announced at EAA AirVenture 2025 in Oshkosh, WI, the development of its new middle-mile, medium-lift cargo drone and the expansion of its operations into the YMX Innovation Zone in Mirabel, Quebec. The initiative is led by its Electric Air Mobility segment, Jaunt Air Mobility, and its Canadian subsidiary, Jaunt Air Mobility Canada.

    Jaunt’s presence in this hub for Advanced Air Mobility (AAM) innovation strengthens its collaboration with Vertiko Mobilité, a Canadian leader in AAM operations and ground infrastructure development, and benefits from the support of Aéroports de Montréal (ADM).

    The new cargo drone is designed to carry 250–500 lbs. over distances of 200+ miles, aiming to provide an efficient, low-emission alternative to traditional middle-mile freight solutions such as box trucks and tractor-trailers.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated fifty one hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)486-1799

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Silvaco Strengthens Leadership Team with Three Industry Veterans to Drive Innovation and Growth

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., July 24, 2025 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (“Silvaco”) (NASDAQ: SVCO), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced the addition of three seasoned industry veterans to its leadership team: Andrew Wright as Senior Vice President and General Manager of the Semiconductor IP Business Unit, Jasvinder Singh as Senior Vice President and General Manager of the EDA Business Unit, and John Berg as Vice President of Business Development. Collectively, they bring decades of experience in semiconductor design and software development to Silvaco and will play pivotal roles in accelerating innovation and operational excellence.

    “Adding these accomplished leaders strengthens our ability to innovate and scale Silvaco’s organic growth,” said Babak Taheri, CEO of Silvaco. “Their insights and proven track records will help advance and accelerate the next phase of our growth. With their expertise, we are well-positioned to broaden our market presence and deliver even greater value to our customers worldwide.”

    Andrew Wright leads Silvaco’s Semiconductor IP Business Unit. Most recently, he served as Senior Vice President of R&D and New Product Introduction at Efabless. He previously served as Executive Vice President of New Product Development at Cypress Semiconductor where he led the company’s chip and IP design methodologies and oversaw the development of all Cypress IP and new products. He has also held executive roles at UltraSense and Waterbit.

    Jasvinder Singh leads Silvaco’s EDA Business Unit. With over 20 years of leadership experience in EDA, AI, semiconductor and autonomous systems. Jasvinder has built and scaled global R&D teams and driven product, platform and engineering growth for multi-billion-dollar organizations. He has held senior roles at Synopsys, SiClarity, and Cadence, where he led innovations across AI, verification and cloud-enabled design platforms.

    John Berg leads business development across all of Silvaco’s product lines. He brings over two decades of leadership experience in quantum computing, semiconductor electronics, and photonics. John has a track record of productizing transformative hardware technologies and solving complex operational challenges. Most recently, he served as Vice President of Supply Chain at PsiQuantum. He has held senior leadership roles at American Semiconductor, Nantero, and Cypress Semiconductor.

    About Silvaco Group, Inc.
    Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan. Learn more at silvaco.com.

    Contacts
    Media Relations:
    Tiffany Behany, press@silvaco.com

    Investor Relations:
    Greg McNiff, investors@silvaco.com

    The MIL Network –

  • MIL-OSI: Trader AI: This Trader AI App Sets New Standard in AI-Driven Trading with Unmatched Security and User Approval

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 24, 2025 (GLOBE NEWSWIRE) — Trader AI, a pioneering fintech platform specializing in AI-powered cryptocurrency trading, today announces the launch of its fully integrated trading robot tailored specifically for Canadian investors. Building on extensive development and rigorous testing, Trader AI delivers a secure, compliant, and highly automated solution designed to help both novice and experienced traders optimize returns while effectively managing risk.

    By seamlessly combining advanced machine learning algorithms, real-time market analysis, and regulatory compliance, Trader AI establishes itself as a frontrunner in the emerging landscape of AI-driven crypto trading. With the cryptocurrency market expanding rapidly—exceeding USD 50 billion in annual trading volume—investors are seeking innovative tools that simplify trading processes without compromising on security or transparency. Trader AI’s newly announced features and localized support address these needs directly, empowering Canadians to participate confidently in digital asset markets.

    Key Highlights:

    • AI-Powered Signal Generation: Proprietary machine learning models continuously scan global crypto markets to identify high-probability trade setups across major coins—including Bitcoin (BTC), Ethereum (ETH), and top altcoins—enabling swift, data-driven decision-making.
    • Fully Automated Execution: Direct API integrations with FINTRAC-registered Canadian brokerages ensure that algorithmic signals translate instantly into live orders, minimizing latency and slippage.
    • User-Centric Interface: A clean, intuitive dashboard guides users from registration to live trading in under 20 minutes, supported by a built-in demo mode for risk-free practice and an optional manual trading toggle for advanced traders.
    • Robust Risk Management: Dynamic stop-loss and take-profit mechanisms adjust automatically to real-time volatility metrics, while customizable position-sizing algorithms safeguard capital with preset risk thresholds.
    • Transparent Fee Structure: Trader AI requires a minimum deposit of USD 250 and operates commission-free—fees are embedded solely within market-standard spreads, ensuring full cost transparency.
    • Canadian-Focused Compliance: With partnerships in Ontario and British Columbia, Trader AI operates alongside regulated broker-dealers, maintains PIPEDA-aligned data practices, and offers optional KYC verification for withdrawals exceeding CAD 2,000 per month.
    • Localized Support & Education: 24/7 live chat, toll-free phone lines, region-specific webinars on taxation and compliance, and a bilingual knowledge base demonstrate Trader AI’s commitment to serving Canada’s diverse trading community.

    Visit Here to Register on the Trader AI – Select Your Country Here!!!

    Trader AI’s Mission: Democratizing Crypto Trading 

    In recent years, the cryptocurrency sector has witnessed explosive growth—often accompanied by elevated volatility, regulatory uncertainty, and a steep learning curve for newcomers. Recognizing these challenges, Trader AI was conceived to bridge the gap between sophisticated algorithmic trading and accessibility for everyday Canadians. By leveraging artificial intelligence, the platform aims to automate labor-intensive tasks such as trend analysis, technical indicator computation, and real-time order generation, freeing users from the need to monitor markets around the clock.

    How Trader AI Works: A Technical Overview

    According to official website, Trader AI’s core engine is anchored in a multi-layered AI architecture that integrates supervised learning, deep neural networks, and real-time data aggregation. Below is an outline of the platform’s operational framework:

    1. Comprehensive Market Data Aggregation
      • Trader AI continuously ingests live order book data, trade histories, volume indicators, and social sentiment inputs from over 20 global exchanges.
      • All incoming data undergoes cleaning and normalization, ensuring consistency for downstream machine learning modules.
    2. Machine Learning and Pattern Recognition
      • A combination of supervised models—trained on historical price movements from January 2017 to December 2024—and unsupervised clustering algorithms identify characteristic market patterns, such as sudden volume surges, technical divergence, and on-chain network activity that historically precedes price shifts.
      • Periodic model retraining occurs every four weeks, incorporating the most recent market data to adapt to evolving conditions.
    3. Signal Generation and Scoring
      • When the AI identifies a pattern that meets predefined confidence thresholds (typically 70–85% probability), it issues a trade signal complete with suggested entry price, stop-loss, take-profit levels, and ideal position size relative to account equity.
      • Each signal is assigned a Signal Quality Score (SQS)—a proprietary metric ranging from 0 to 100—that reflects confidence based on factors such as liquidity depth, volatility, and historical win rate for similar setups.
    4. Automated Order Execution
      • Upon user authorization (via the “Auto-Trade” toggle), signals are dispatched instantly through secure API connections to partnered Canadian brokerages and select international exchanges.
      • In live conditions, orders are executed with an average round-trip latency of under 150 milliseconds, minimizing the risk of slippage during periods of heightened volatility.
    5. Dynamic Risk Management
      • Stop-loss and take-profit parameters adjust in real-time based on Average True Range (ATR) and Bollinger Band expansions. For example, if an asset’s 24-hour volatility spikes above 8%, the AI narrows stop-loss bands by 10–15% to limit drawdown.
      • The platform’s Position Sizing Algorithm (PSA) calculates optimal trade size by referencing account balance, risk tolerance (e.g., 1–3% per trade), and portfolio diversification targets. Any deviation beyond preset risk thresholds triggers an automated alert or halts new allocations.

    Registration and Onboarding: Getting Started in Minutes

    Trader AI’s streamlined registration process has been optimized for speed, transparency, and regulatory compliance—ensuring that Canadian clients can begin trading quickly without unnecessary hurdles. The following steps outline the typical user journey from initial sign-up to live trading:

    1. Account Creation
      • Visit official website homepage, click “Sign Up,” and complete the registration form with basic information:
        • Full legal name
        • Email address
        • Country of residence (preselected as based on IP detection)
        • Phone number (for 2FA and important notifications)
      • Users must acknowledge the platform’s Terms of Service and Privacy Policy, both of which include specific disclosures regarding data handling under PIPEDA regulations.
    2. Email and Phone Verification
      • An email containing a verification link is sent immediately; clicking the link confirms the email address.
      • A one-time code (OTP) is dispatched to the registered phone number. Entering this code completes the two-step verification process.
    3. Demo Account Activation
      • Without any deposit requirement, new users receive CAD 10,000 in virtual funds to explore the platform’s features and test AI-generated signals.
      • The demo environment simulates real market conditions, including bid-ask spreads and execution latencies, enabling risk-free practice trades.
    4. Minimum Deposit and Funding Options
      • To transition from demo to live trading, a minimum deposit of USD 250 is required.
      • Canadian users may fund accounts via:
        • Interac e-Transfer: Funds clear within 1–2 business hours.
        • Credit/Debit Card (Visa/Mastercard): Instant funding up to CAD 5,000 per day for non-verified accounts.
        • Wire Transfer: Larger deposit limits (up to CAD 50,000 daily) with a 1–2 business day processing time.
      • Immediately after deposit confirmation, live trading features unlock—allowing users to choose between fully automated or manual signal execution.
    5. Optional KYC Verification
      • For withdrawals exceeding CAD 2,000 per month, users are prompted to complete Know Your Customer (KYC) verification by uploading:
        • A government-issued photo ID (e.g., driver’s license, passport)
        • Proof of address (e.g., utility bill, bank statement dated within the last 90 days)
      • KYC checks typically finalize within 24–48 hours, though urgent requests may be expedited upon user inquiry.
    6. Live Trading Activation
      • With funds deposited and (if necessary) KYC cleared, users can configure initial risk parameters—such as daily drawdown limits, maximum open trades, and preferred asset baskets.
      • The AI engine is now primed to generate signals. Traders can elect “Auto-Trade” to allow fully automated execution or opt to review and manually approve each AI recommendation.

    Core Features and Functionalities

    As per official website, Trader AI’s feature set has been refined to balance sophistication with usability—addressing the distinct needs of Canada’s diverse trading population. The following sections highlight the platform’s most compelling capabilities:

    1. AI-Powered Trade Signals

    • Proprietary Algorithms: Trader AI’s AI suite includes recurrent neural networks (RNNs) and convolutional neural networks (CNNs), which process time-series price data, order flow imbalances, and macroeconomic indicators to forecast short-term price movements.
    • Cross-Asset Analysis: Signals are not isolated to single-asset momentum. The system examines correlations between Bitcoin, major equities indices, and global macro events—such as central bank announcements—to adjust trading thresholds.
    • Signal Quality Score (SQS): Each trade recommendation includes an SQS metric (0–100) reflecting confidence based on factors like market depth, recent volatility shifts, and historical win rates for analogous setups. Users can filter signals by minimum SQS thresholds (e.g., ≥ 70) to ensure high-probability engagement.

    2. Automated Trade Execution

    • API Integrations: Trader AI maintains secure API connections with FINTRAC-registered Canadian brokerages—such as Maple Brokerage and Aurora Digital Assets—and renowned international exchanges. This reduces counterparty risk by routing orders through regulated entities rather than holding funds internally.
    • Low-Latency Order Routing: By co-locating servers near major exchange matching engines, Trader AI achieves average order round-trip times under 150 ms. This is critical during rapid price fluctuations when even small delays can erode profit margins.
    • Slippage Control: Users may elect “Maximum Slippage Tolerance” parameters (e.g., 0.1%–0.5% of trade size) to prevent orders from executing at disadvantageous prices. If slippage exceeds the user-defined threshold, orders are canceled automatically.

    3. Customizable Strategy Settings

    • Risk Tolerance Profiles: “Conservative,” “Moderate,” and “Aggressive” presets allow users to quickly adopt risk frameworks aligned with their goals. Conservative settings limit daily drawdown to 2% of account equity and cap leverage at 2x; moderate settings permit up to 4% drawdown and 5x leverage; aggressive settings enable up to 6% drawdown and 10x leverage (subject to brokerage approvals).
    • Asset Basket Creation: User-defined “Smart Baskets” group multiple cryptocurrencies—such as “Top 5 by Market Cap,” “Emerging DeFi Tokens,” or “Stablecoin Arbitrage.” The platform rebalances these baskets weekly based on performance, market capitalization changes, and liquidity metrics.
    • Volatility-Adaptive Stop-Loss: Stop-loss percentages are not static. Instead, they adjust proportionally to the 14-day Average True Range (ATR) and Bollinger Band expansions. For example, if the ATR for Bitcoin spikes from 2% to 4%, the stop-loss widens by 10–15% to avoid premature exit during heightened volatility.

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    4. Portfolio Diversification Engine

    • Balanced Allocation Recommendations: The AI provides suggested allocation percentages across multiple asset classes—e.g., 40% BTC, 25% ETH, 15% top-10 altcoins, and 20% stablecoins—based on risk-adjusted performance data and user-defined risk tolerance.
    • Correlated Asset Mitigation: By monitoring correlation coefficients between assets (e.g., BTC vs. ETH correlation of 0.85), the platform can reduce overweight positions to minimize systemic exposure. When correlation exceeds 0.9, the AI recommends temporary reallocation to lower-correlation assets.
    • Automated Rebalancing: Weekly portfolio rebalancing ensures that no single asset exceeds preset maximum exposure (e.g., 25% of total equity). If an asset’s value grows beyond this cap, the system executes partial sell orders and redistributes proceeds to underweighted categories.

    5. Comprehensive Reporting and Analytics

    • Real-Time Dashboard: The homepage features live P&L, open trade positions, daily profit percentages, and drawdown statistics. A customizable graph displays historical performance, including monthly ROI comparisons against benchmark indices like the S&P 500 and TSX Composite.
    • Sharpe Ratio & Sortino Ratio: Users can view risk-adjusted performance metrics to gauge risk efficiency. A Sharpe Ratio above 1.5 is highlighted in green, indicating favorable risk-adjusted returns. Sortino Ratio (which penalizes downside volatility) is also displayed for more precise risk assessment.
    • Trade History: A searchable log details each executed trade (entry price, exit price, timestamp, P&L, SQS). Users can filter by asset, date range, or trade outcome (win/loss). CSV export functionality enables further analysis in external tools.

    6. Security and Data Protection

    • SSL Encryption & Data Integrity: All data in transit is encrypted via AES 256-bit SSL/TLS protocols. Sensitive user information—such as login credentials and payment details—resides in encrypted databases with advanced hashing (bcrypt) and tokenization methods.
    • Two-Factor Authentication (2FA): Upon login, users must input their password followed by a one-time code generated through an authenticator app (e.g., Google Authenticator) or delivered via SMS. This two-tier verification effectively prevents unauthorized access, even if credentials are compromised.
    • Third-Party Security Audits: Leading cybersecurity firms—such as CanSecWest Security—conduct quarterly penetration tests and codebase reviews. Summary reports are shared with the Canadian Office of the Privacy Commissioner to demonstrate ongoing compliance with PIPEDA.
    • Data Residency: All Canadian user data is stored on servers located within Canada, ensuring compliance with provincial data sovereignty regulations. Backups occur daily and are encrypted with unique user-specific keys.

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    7. Transparent Fee Structure

    • No Subscription Fees: Trader AI does not charge recurring platform fees—traders benefit from a zero-cost software model.
    • Embedded Spread-Only Costs: All trading costs are embedded in exchange spreads. For example:
      • BTC–USD: Typical spread between 0.10% and 0.20%.
      • ETH–USD: Typical spread between 0.12% and 0.22%.
      • Top Altcoins (e.g., LINK, DOT): Spreads between 0.20% and 0.40%.
    • Withdrawal Fees:
      • Interac e-Transfer (≤ CAD 1,000): Flat CAD 20 fee.
      • Interac e-Transfer (> CAD 1,000): No fee.
      • Wire Transfers: CAD 30 processing fee (waivable for account balances > CAD 10,000).
    • Currency Conversion Markup: For trades executed in USD or other foreign currencies, a transparent 0.25% conversion margin is applied—visibly displayed on the funding page prior to transaction confirmation.

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    Localized Support and Educational Initiatives

    Trader AI’s success in Canada is rooted in its investment in region-specific support and educational resources. Recognizing that regulatory requirements and tax implications for cryptocurrencies vary significantly from country to country, the platform has implemented multiple initiatives to guide Canadian users.

    1. Multi-Channel Customer Support

    • 24/7 Live Chat: Available directly on the website, live chat is staffed around the clock by bilingual (English/French) agents trained in both technical troubleshooting and Canadian regulatory guidelines.
    • Toll-Free Canadian Phone Lines: Operating daily from 8 AM to 8 PM ET, dedicated support lines (1-800-IMPATH1) ensure prompt resolution of urgent issues—ranging from account access difficulties to withdrawal queries.
    • Email Ticketing System: For non-urgent matters, users can submit support tickets via support@immediate-path.com. Average response time is 4–6 hours on weekdays; weekend requests are addressed within 12 hours.

    2. Dedicated Compliance Resources

    • Regulatory Updates Section: A rotating banner on the Trader AI homepage alerts users to any changes in Canadian crypto regulations—such as new FINTRAC reporting guidelines or provincial licensing requirements.
    • Tax Reporting Guides: Downloadable PDFs explain:
      • How to classify various transactions (spot trading, staking rewards, airdrops) for CRA reporting.
      • Strategies for netting gains and losses across multiple wallets and platforms—ensuring accurate portfolio-wide tax calculations.
    • AML & KYC Policy Disclosure: Users can review Trader AI’s anti-money-laundering protocols, including suspicious transaction reporting criteria and process flows for large withdrawals requiring enhanced due diligence.

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    Safety and Security

    As crypto regulatory framework continues to evolve, Trader AI remains committed to exceeding compliance standards and upholding the highest levels of security—minimizing risk for users and partners alike.

    1. Data Privacy and PIPEDA Compliance

    • PIPEDA-Aligned Privacy Policy: Trader AI’s privacy policy explicitly references the Personal Information Protection and Electronic Documents Act (PIPEDA), ensuring that Canadian user data is collected, processed, and stored in accordance with federal requirements.
    • Data Residency: All Canadian user data is housed on servers located within Canadian jurisdiction (Toronto and Montreal data centers), offering additional protection under provincial data sovereignty regulations (e.g., Ontario’s provincial data residency requirements).
    • User Rights: Canadians retain full control over personal information—users can request access, correction, or deletion of their data at any time by contacting privacy@immediate-path.com.

    2. Encryption and Infrastructure Security

    • End-to-End SSL/TLS Encryption: All data transmitted between user browsers and Trader AI’s servers is encrypted via AES 256-bit SSL/TLS protocols, preventing interception or tampering.
    • Hashed Password Storage: User passwords are stored using bcrypt with a work factor of 12, making brute-force compromises computationally infeasible.
    • Intrusion Detection & Multi-Tenant Segmentation: Network traffic is continuously scanned by an Intrusion Detection System (IDS). Each user’s trading environment resides within an isolated container, preventing cross-account data leaks or unauthorized lateral movement by attackers.

    Comparative Performance: Backtesting and Live Results

    Trader AI’s performance results—both in backtesting and real-world conditions—underscore its capability to navigate dynamic crypto landscape:

    Backtesting Overview (January 2020–December 2024)

    • Annualized Return (Conservative Settings): 45%
      • Parameters: Maximum daily drawdown capped at 2%, trades limited to 07:00–16:00 EST (peak liquidity hours), leverage ≤ 2x.
      • Historical drawdown: 12% during March 2020 “Corona Crash.”
    • Annualized Return (Moderate Settings): 70%
      • Parameters: Daily drawdown ≤ 4%, 24/7 trading, leverage ≤ 5x.
      • Historical drawdown: 18% during May 2021 “Altseason Correction.”
    • Annualized Return (Aggressive Settings): 95%
      • Parameters: Daily drawdown ≤ 6%, leverage ≤ 10x, full asset basket allocation including high-volatility DeFi tokens.
      • Historical drawdown: 25% during November 2021 “Crypto Winter II.”

    Metrics

    • Average Win Rate: 62%
    • Average Risk/Reward Ratio: 1:1.8
    • Maximum Drawdown (Conservative): 12%
    • Maximum Drawdown (Aggressive): 25%

    Asset Coverage and Diversification Strategies

    Trader AI supports a broad spectrum of digital assets, enabling traders to construct diversified portfolios that mitigate risk and capture growth across multiple sectors:

    1. Major Cryptocurrencies
      • Bitcoin (BTC): The flagship asset, receiving the highest allocation in most conservative and moderate baskets.
      • Ethereum (ETH): Backbone of decentralized finance (DeFi) and smart contracts, featured prominently.
      • Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Cardano (ADA): Liquid, established altcoins available for core portfolio building.
    2. Emerging DeFi and Layer-1 Tokens
      • Polkadot (DOT), Solana (SOL), Avalanche (AVAX): Rapidly scaling networks with robust ecosystems—suitable for moderate-risk allocations.
      • Chainlink (LINK), Aave (AAVE), Uniswap (UNI): Leading DeFi and oracle solutions that often exhibit high volatility paired with substantial upside potential.
    3. Metaverse and NFT-Related Tokens
      • Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND): Assets tied to virtual real estate and blockchain gaming—ideal for investors seeking exposure to Web3 trends.
    4. Stablecoin Pairs and Hedging Options
      • Tether (USDT), USD Coin (USDC), Dai (DAI): Trader AI’s AI can automatically rotate capital into these stablecoins when market volatility exceeds user-defined thresholds (e.g., 10% 24-hour price swing), preserving equity during short-term drawdowns.
    5. Sector-Specific Baskets
      • “Layer 1 Champions”: Allocation across BTC, ETH, DOT, SOL, AVAX.
      • “DeFi Innovators”: Allocation across LINK, AAVE, UNI, SUSHI, COMP.
      • “Metaverse Mavericks”: Allocation across MANA, AXS, SAND, FLOW.

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    Payments, Fees, and Account Funding

    Trader AI’s commitment to transparency extends to its straightforward funding and fee model. Canadian users benefit from local payment options, minimal entry capital requirements, and no hidden subscription charges.

    1. Minimum Deposit Requirement

    • Base Capital: USD 250 (equivalent to approximately CAD 330 at current exchange rates).
    • Deposit Methods for Canadians:
      • Interac e-Transfer: Typical processing time of 1–2 business hours; no fees for deposits over CAD 1,000; flat CAD 20 fee for deposits ≤ CAD 1,000.
      • Credit/Debit Card (Visa, Mastercard): Instant processing with a daily limit of CAD 5,000 for non-verified accounts.
      • Wire Transfer: For larger capital needs (up to CAD 50,000 per transaction), processed in 1–2 business days; CAD 30 fee applies (waivable for initial deposits > CAD 10,000).
    • Currency Conversion: For trades executed on non-CAD pairs, an automatic 0.25% conversion margin is applied. Real-time mid-market exchange rates are displayed prior to transaction.

    2. Fee Structure

    • Software Access: No subscription or platform fees—Trader AI’s model is “software-free,” with all platform maintenance costs absorbed by the company.
    • Trading Costs (Embedded Spreads):
      • BTC–USD/CAD: Spreads between 0.10% and 0.20%.
      • ETH–USD/CAD: Spreads between 0.12% and 0.22%.
      • Major Altcoins: Spreads ranging from 0.20% to 0.40%.
      • Spread rates adjust dynamically based on overall market liquidity—tightening during high-liquidity periods and widening slightly during low-liquidity windows (e.g., weekends, public holidays).
    • Withdrawal Fees:
      • Interac e-Transfer (≤ CAD 1,000): Flat CAD 20.
      • Interac e-Transfer (> CAD 1,000): No fee.
      • Wire Transfer: CAD 30 (waived if account balance exceeds CAD 10,000 at time of withdrawal).
      • Credit/Debit Card Refunds: If a user funded via card and requests a refund to the same card, a 2% processing fee applies to cover issuer charges.
    • Overnight Funding Fees: If a user employs leverage (up to 10x for aggressive strategies), an overnight interest rate of 0.03% per day is applied—transparent line-item in the trade ticket before order execution.

    About Trader AI

    Trader AI Inc. is a AI-driven cryptocurrency trading solutions. Founded in 2023 by a team of quantitative analysts, data scientists, and seasoned software engineers, Trader AI’s mission is to democratize algorithmic trading—making advanced, data-driven strategies accessible to investors of all experience levels.

    Key Facts:

    • Established: 2023
    • Core Product: AI-powered crypto trading robot with automated and manual trading modes
    • Target Market: Crypto investors, ranging from first-time traders to institutional participants
    • Regulatory Partners: Maple Brokerage (Ontario), Victory Crypto (British Columbia)—both FINTRAC-registered

    Company Vision: Trader AI seeks to empower Canadians by providing state-of-the-art AI trading tools under a fully compliant, transparent framework. By combining deep learning, robust risk management, and localized support, Trader AI aims to elevate Canada as a global hub for safe, responsible cryptocurrency trading.

    Conclusion

    Trader AI stands at the forefront of AI-driven cryptocurrency trading, combining cutting-edge machine learning, rigorous risk management, and a deep commitment to regulatory compliance. For both newcomers and seasoned traders, the platform offers a streamlined onboarding process, transparent fee structures, and a robust suite of tools designed to optimize performance while safeguarding capital. All users benefit from local payment integrations, bilingual support, and educational resources that demystify tax reporting and compliance requirements.

    Whether you’re aiming to augment your existing strategy or take your first steps into automated crypto trading, Trader AI delivers an accessible, secure, and high-performing environment. With a proven track record of consistent returns—backed by both backtesting data and real-world results—this platform has quickly become a trusted choice for Canadian investors seeking to navigate volatile markets with confidence.

    Ready to experience the power of AI-driven trading for yourself? Sign up for a free demo account and explore Trader AI’s features with CAD 10,000 in virtual funds. When you’re ready to trade live, a minimum deposit of USD 250 (approximately CAD 330) unlocks full access to all automated and manual trading modes. Discover why thousands of Canadians are turning to Trader AI to harness smarter strategies and take control of their crypto portfolios.

    Forward-Looking Statements

    This press release contains forward-looking statements that reflect Trader AI Inc.’s expectations regarding future events, including anticipated performance, product enhancements, and regulatory developments. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Trader AI Inc. assumes no obligation to update or revise these statements except as required by applicable law.

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    Media Contact

    Trader AI 

    50 W 4th St,
    New York, NY 10012, USA
    Email: info@traderai.ai
    Phone
    AU +61284889800
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    Website – https://traderai.ai

    General Disclaimer:
    The content provided in this article is for informational and educational purposes only. It does not constitute financial, legal, or professional advice. Readers are advised to consult a certified financial advisor, licensed loan officer, or legal professional before making any financial decisions. The information presented may not apply to every individual circumstance and is not intended to substitute professional judgment or regulatory guidance. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. We does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
    Trading Disclaimer:
    Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO’s, IEO’s, STO’s and any other form of offering will not guarantee a return on your investment.
    HIGH RISK WARNING: Dealing or Trading FX, CFDs and Cryptocurrencies is highly speculative, carries a level of non-negligible risk and may not be suitable for all investors. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. Please refer to the risk disclosure below. Trader AI does not gain or lose profits based on your activity and operates as a services company. Trader AI is not a financial services firm and is not eligible of providing financial advice. Therefore, Trader AI shall not be liable for any losses occurred via or in relation to this informational website.
    SITE RISK DISCLOSURE: Trader AI does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of and seek professional advice for the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in FX, CFDs and Cryptocurrencies may not be suitable for all investors. Trader AI doesn’t retain responsibility for any trading losses you might face as a result of using or inferring from the data hosted on this site.
    LEGAL RESTRICTIONS: Without limiting the above mentioned provisions, you understand that laws regarding financial activities vary throughout the world, and it is your responsibility to make sure you properly comply with any law, regulation or guideline in your country of residence regarding the use of the Site. To avoid any doubt, the ability to access our Site does not necessarily mean that our Services and/or your activities through the Site are legal under the laws, regulations or directives relevant to your country of residence. It is against the law to solicit US individuals to buy and sell commodity options, even if they are called “prediction” contracts, unless they are listed for trading and traded on a CFTC-registered exchange unless legally exempt. The UK Financial Conduct Authority has issued a policy statement PS20/10, which prohibits the sale, promotion, and distribution of CFD on Crypto assets. It prohibits the dissemination of marketing materials relating to distribution of CFDs and other financial products based on
    Cryptocurrencies that addressed to UK residents. The provision of trading services involving any MiFID II financial instruments is prohibited in the EU, unless when authorized/licensed by the applicable authorities and/or regulator(s). Please note that we may receive advertising fees for users opted to open an account with our partner advertisers via advertisers websites. We have placed cookies on your computer to help improve your experience when visiting this website. You can change cookie settings on your computer at any time. Use of this website indicates your acceptance of this website. Please be advised that the names depicted on our website, including but not limited to Trader AI, are strictly for marketing and illustrative purposes. These names do not represent or imply the existence of specific entities, service providers, or any real-life individuals. Furthermore, the pictures and/or videos presented on our website are purely promotional in nature and feature professional actors. These actors are not actual users, clients, or traders, and their depictions should not be interpreted as endorsements or representations of real-life experiences. All content is intended solely for illustrative purposes and should not be construed as factual or as forming any legally binding relationship
    RISKS ASSOCIATED WITH FUTURES TRADING
    Futures transactions involve high risk. The amount of the initial margin is low compared to the value of the futures contract, so that transactions are “leveraged” or “geared”. A relatively small market movement has a proportionately larger impact on the funds that you have deposited or have to pay: this can work both for you and against you. You may experience the total loss of the initial margin funds as well as any additional funds deposited in the system. If the market develops in a way that is contrary to your position or if margins are increased, you may be asked to pay significant additional funds at short notice to maintain your position. In this case it may also happen that your broker account is in the red and you thus have to make payments beyond the initial investment.
    RISKS ASSOCIATED WITH ELECTRONIC TRADING
    Before you begin carrying out transactions with an electronic system, you should carefully review the rules and provisions of the stock exchange offering the system, or of the financial instruments listed that you intend to trade, as well as your broker’s conditions. Online trading has inherent risks due to system responses/reaction times and access times that may vary due to market conditions, system performance and other factors, and on which you have no influence. You should be aware of these additional risks in electronic trading before you carry out investment transactions.
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    All information included in this article is presented in good faith and believed to be accurate at the time of writing. However, no representations or warranties are made regarding the completeness, accuracy, reliability, or timeliness of any information presented. Any reliance placed on such information is strictly at the reader’s own risk. The publisher does not accept responsibility for typographical errors, outdated information, or changes to products, terms, or policies after publication.
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    Syndication Partner Use:
    This content may be republished or syndicated by authorized partners under existing licensing or distribution arrangements. All syndication partners are free from liability regarding the editorial stance, financial suggestions, or any user outcome resulting from the reading or application of this content.

    Attachment

    The MIL Network –

  • MIL-OSI Analysis: Cubic zirconia only forms under extreme temperatures, like those produced when an asteroid impacts Earth

    Source: The Conversation – Canada – By Neeraja Chinchalkar, PhD student, Earth and Planetary Science and Exploration, Western University

    A satellite image of the Clearwater Lakes, the site of two large asteroid impacts that struck Earth about 290 million years ago (NASA Earth Observatory)

    When high-velocity asteroids land on the Earth, they can form a meteor impact crater. Such collisions have occurred throughout Earth’s history and still occur on other planetary bodies today.

    While most asteroid impacts on Earth happened millions of years ago, their remnants are still preserved across the Earth’s surface. Impact-affected rocks experience intense heat and pressure during the impact.

    One such ancient impact site, known as West Clearwater Lake, is located in Québec, on the Canadian Shield near Hudson Bay. This crater, now filled with water, was formed when an asteroid struck Earth approximately 285 million years ago.

    A natural thermometer

    Zircon is a mineral commonly found in a variety of rock types on Earth and in some rocks on the moon and other planets. It is an incredibly durable, naturally occurring mineral that has been around since as long as the Earth itself. The physical resilience of zircon makes it a useful tool to study natural geological phenomena.

    Zircon, when heated enough, begins to break down into its components: zirconia (ZrO₂) and silica (SiO₂). Zirconia has different forms depending on how hot it gets, called polymorphs — these are minerals with the same chemical make up but different crystal structures that adapt to changing physical conditions. One of the polymorphs of zirconia is cubic zirconia, named for its cubic structure.

    Finding cubic zirconia in nature is incredibly rare because of the specific conditions it requires to remain structurally stable. Cubic zirconia forms only under extreme conditions where temperatures reach above 2,370 C. On the Earth’s surface, such naturally hot temperatures have only been known to exist during impact crater formation.

    At West Clearwater Lake, we found evidence of this natural cubic zirconia preserved in natural glass — a remnant of the intense heat from the ancient asteroid impact. For comparison, active volcanoes such as those in Hawaii reach temperatures in the range of 800 to 1,200 C.

    In nature, zirconia exists in several forms, depending on the temperature and pressure it’s exposed to. The three main polymorphs are: monoclinic, tetragonal and cubic.

    Monoclinic zirconia is stable at lower temperatures and is the most common form of zirconia found in nature. Tetragonal zirconia exists at moderately high temperatures and is unstable at low temperatures. Cubic zirconia is only stable at extremely high temperatures above 2,370 C, and is also unstable at lower temperatures.

    A backscattered electron image of a zircon grain decomposing into zirconia.
    (N. Chinchalkar , G. Osinski, T. Erickson & C. Cayron), CC BY

    A hot piece of history

    How, exactly, did cubic zirconia end up in these rocks?

    When the asteroid hit the West Clearwater Lake region millions of years ago, it generated temperatures hot enough to melt and vaporize some of the surface rock. As the molten rock cooled and solidified, microscopic crystals of zircon, originally present within target material, got caught up in the hot melt and began to transform.

    At temperatures above 2,370 C, these zircon crystals started to break down, and some of them turned into cubic zirconia. This provided evidence of the extreme heat, which our research team discovered in our recent study.

    This fascinating evidence gives us insights into how hot it can get during a meteorite impact, something that’s hard to measure millions of years after the fact.

    Artificial production

    Synthetic cubic zirconia is produced artificially by heating zirconium oxide to high temperatures, then cooling it in a controlled environment; the zirconia then forms crystals that resemble diamonds. Synthetic cubic zirconia is a popular substitute for diamonds in jewelry because it is cheap to produce but still sparkles like diamonds.

    Synthetic cubic zirconia contains high amounts of stabilizing agents, like the element yttrium, that prevent it from becoming unstable and help it maintain its brilliance over time.

    Without the additives used in synthetic cubic zirconia, natural zirconia is much more likely to transform into other forms as it cools down. That’s why finding natural cubic zirconia is so rare — it exists only in places where temperatures were once unimaginably high.

    Synthetic cubic zirconia is a popular substitute for diamonds in jewelry because it is cheap to produce but still sparkles like diamonds.
    (James St. John/Flickr), CC BY

    Asteroid impacts

    Apart from being a fascinating geological discovery, finding evidence of cubic zirconia in an impact structure gives scientists a better understanding of the conditions created during asteroid impacts. These ancient events weren’t just violent — they fundamentally changed the Earth’s surface in ways that we’re still learning about.

    While the discovery of cubic zirconia in West Clearwater Lake is exciting, it’s just one piece of the puzzle. Impact craters are not unique to Earth — they are found on most rocky objects in our solar system. For example, cubic zirconia has been found in moon rocks brought back by astronauts of the Apollo missions.

    Meteorite craters like the West Clearwater Lake are only a small part of a larger story of Earth’s history. During its nascent years, Earth was regularly bombarded by asteroids that were remnants of the debris from the formation of the solar system, and these collisions helped shape the planet’s surface. In fact, there is compelling evidence that asteroid impacts may have played a role in the origin of life by creating environments where complex chemicals could form.

    Neeraja Chinchalkar is affiliated with the Lunar and Planetary Institute

    Gordon Osinski receives funding from the Natural Sciences and Engineering Research Council of Canada and the Canadian Space Agency.

    Timmons Erickson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Cubic zirconia only forms under extreme temperatures, like those produced when an asteroid impacts Earth – https://theconversation.com/cubic-zirconia-only-forms-under-extreme-temperatures-like-those-produced-when-an-asteroid-impacts-earth-238267

    MIL OSI Analysis –

  • MIL-OSI USA: Welch Leads Bipartisan Legislation to Exempt Small Businesses from Trump Tariffs on Canada 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. – Today, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, led Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senators Jeanne Shaheen (D-N.H.), Lisa Murkowski (R-Alaska), Tim Kaine (D-Va.), Susan Collins (R-Maine), Ed Markey (D-Mass.), and Ron Wyden (D-Ore.) in introducing the Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, legislation that would exempt United States-owned small businesses from tariffs imposed on Canada.  
    “Small businesses are the beating heart of Vermont’s economy, and they operate on the thinnest of margins. There’s no way small businesses can be expected to absorb the costs of President Trump’s tariffs. That’s especially true for smaller businesses across our state that rely on strong partnerships with Canada,” said Senator Welch. “This commonsense bill protects America’s Main Street businesses from Trump’s reckless trade war with Canada, and in turn helps Main Street customers.  
    “Instead of lowering costs for families, Trump’s destructive tariffs are raising prices and hurting American small businesses, from small manufacturers to Main Street shops, hotels, and restaurants that sustain thousands of local jobs. Trump’s chaotic trade war is burning bridges and ruining relationships with our closest ally and key trade partner, Canada, while driving away tourists and costing local economies billions. This bill would help restore our cherished relationship with our next-door neighbor and major economic partner, and bring relief to our communities and small businesses,” said Leader Schumer.  
    “President Trump’s tariffs are increasing prices on everyday goods and making it harder for businesses and working families to get by,” said Senator Shaheen. “Canada is New Hampshire’s northern neighbor and largest trading partner, meaning Granite State small businesses are especially hard hit by these blanket tariffs. By shielding small businesses from rising costs incurred by the President’s trade war, our legislation would give Main Street some much-needed relief and certainty to plan for the future and keep their businesses afloat.” 
    “I’ve heard loud and clear from small businesses in Alaska: tariffs are forcing prices to rise and making it difficult to plan long-term,” said Senator Murkowski. “We’re not just neighbors with Canada, we’re partners in everything from trade, tourism, defense, and fishing. I’m hopeful this legislation sends a clear message to the administration that we want to continue this strong partnership by alleviating the effects of these tariffs on our small businesses.” 
    “President Trump’s broad-based tariffs are causing economic chaos, uncertainty, and higher costs for families and businesses,” said Senator Kaine. “I’ve heard from small businesses across Virginia about how Trump’s trade wars have forced them to make tough decisions about how they’ll continue to operate. I’m proud to introduce this bipartisan bill with my colleagues to exempt small businesses from Trump’s tariffs on Canada, one of our closest allies and top trading partners.” 
    “Imposing tariffs on Canada, Maine’s closest trading partner, threatens jobs, drives up costs, and hurts small businesses that have long relied on cross-border cooperation and exchange,” said Senator Collins. “This bipartisan legislation would shield small businesses throughout the country from unnecessary economic harm while preserving the vital trade ties that support so many Maine communities.” 
    “Donald Trump is hell-bent on turning Main Street into Pain Street for America’s small businesses. Trump’s tariffs threaten to supercharge costs in New England and Massachusetts, a region and a state that relies on trade with Canada to meet the bottom line,” said Senator Markey. “Blanket tariffs will only lead to layoffs, closures, and economic pain. That’s not putting America first. I’m proud to join my colleagues to protect small businesses in the Bay State and all of New England from this disastrous trade war.”  
    “Trump’s Canada tariffs don’t make sense for ANYONE, but especially not for American small businesses. Taxes on products from Canada means small businesses in America will pay more for the inputs they use to make things here in the United States – meaning prices will go up, jobs will be lost and small companies will shut down. This is a commonsense bill to exempt small businesses from Trump trade taxes and cushion some of the blow of his senseless trade war with Canada,” said Senator Wyden. 
    President Trump has changed or modified his tariff proposals and policies 28 times in his second term. These tariffs have been difficult to navigate for small businesses across the United States—especially in Vermont, where Canada is the state’s largest trading partner. Tariffs lead to supply chain disruptions, increased costs of goods and materials, smaller profits and higher costs for consumers.  
    The CANADA Act is supported by Main Street Alliance and Small Business Majority. 
    “The relationship between Canada and the United States is a critical one for farmers, small business owners, and Main Streets across the US, but especially in the border states. It is essential for this relationship that US trade policy is predictable, purposeful, and designed to benefit both countries. The erratic, fact-devoid tariff emergencies put into effect by President Trump are making it harder for US businesses to start and operate while not even achieving the goals they claim to have in the first place. The Senate passing the CANADA Act by Sen. Peter Welch is a step in the right direction, with more to do to restore US global leadership and rebuild trust that’s been unfortunately damaged over the past 7 months,” said Shawn Phetteplace, National Campaigns Director, Main Street Alliance. 
    “The constantly shifting tariff policy landscape has left small businesses struggling to plan ahead. Any amount of clarity lawmakers can offer right now, including an exemption for small businesses importing goods from a specific country, would help by giving entrepreneurs some degree of certainty in a chaotic time. If nothing is done soon to help protect small businesses from tariffs, we expect inflation, uncertainty and chaos will crush many small firms, damage America’s economy and cause the loss of countless jobs,” said John Arensmeyer, Founder and CEO, Small Business Majority. 
    In 2024 alone, trade with Canada accounted for 35% of Vermont’s exports, 67% of its imports, and 56% of its total trade. One in four businesses in Vermont relies on trade with Canada. Vermont buys more goods from Canada than the next nine largest foreign markets combined. In 2023, Vermont exported $150 million just in food and agricultural products to Canada.  
    Vermont boasts nearly 82,000 small businesses, which represent 99% of all businesses in the state, and employ over 62% of Vermont’s overall workforce—higher than the national average. Small businesses in Vermont also employ a diverse workforce, with 43.8% of small businesses in the state owned by women and 6% owned by veterans. 
    Senator Welch has blasted Trump’s tariffs and trade war and shared stories from Vermonters about how President Trump’s economic policies have impacted their businesses, farms, and communities. In May, Senator Welch joined a bipartisan delegation and traveled to Ottawa to meet with Canadian dignitaries, including Prime Minister Mark Carney, to discuss bipartisan support for a U.S.-Canada partnership and their commitment to a strong trading relationship between the United States and Canada. The Senator has hosted roundtables in Stowe, Newport, St. Albans, Manchester, and virtually to hear concerns and first-hand stories from Vermont and Canadian leaders impacted by the trade war. 
    Read and download the full text of the bill. 

    MIL OSI USA News –

  • MIL-OSI: McCuddy’s Marine Insurance Partners with Applied to Promote Agency Growth

    Source: GlobeNewswire (MIL-OSI)

    Chicago, IL., July 24, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced that McCuddy’s Marine Insurance has selected Applied Epic as its foundational agency management system to standardize their business operations to drive efficiencies of scale. The newly founded agency will leverage Applied Epic’s automated workflows to make day-to-day policy management tasks consistent and faster, allowing all staff a consistent experience from day one and an easy system to onboard and train as they grow their operations in the future.

    “As a young agency managing an influx of new clients, I needed a management system that would meet my current needs so I can get off the ground quickly, while still giving me room for growth as I looked towards the future of my business,” said Max McCuddy, chief executive officer, McCuddy’s Marine Insurance. “Applied Epic’s automated capabilities will enable me to create consistent, streamlined policy management and renewals processes that save time for my small staff now and make it easy to onboard new producers and account managers joining the team in the future.”

    Applied Epic and its Digital Agency technologies deliver the most technologically advanced suite of software applications to independent insurance agencies to enable faster and more profitable growth. Applied’s suite of applications provides essential capabilities for each stakeholder within an agency to manage client relationships, sales opportunities, market appetite search, quoting, financial accounting, and policy and benefits administration more effectively across all lines of business. Built on leading cloud technology, Applied Epic offers a comprehensive view of client and prospect information and delivers internal workflows through a modern user experience, enabling users to drive greater efficiencies and business value across the entire enterprise.

    “It’s important that new businesses not get bogged down in inefficient, disconnected paper-driven processes that take time away from higher-value tasks,” said Anupam Gupta, chief product officer, Applied Systems. “Using Applied Epic as its foundational management system, staff at McCuddy’s Marine Insurance will be able to run back-end processes smoothly and optimize their time to focus on new growth opportunities.”

    # # #

    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    About McCuddy’s Marine Insurance Partners
    Max McCuddy, founder and chief executive officer of McCuddy’s Marine Insurance, grew up in the marine industry. His grandfather started McCuddy’s Marina in the 1950s, which now operates as one of the largest privately owned marinas in the Pacific Northwest. Having always been entrepreneurial, Max decided to get into the insurance industry after personally experiencing a lack of local insurance agents who specialized in marine risks. Max’s mission is to become the go-to marine insurance agency in the Pacific Northwest, with a long-term vision of becoming the #1 marine insurance agency in the country.

    The MIL Network –

  • MIL-OSI: Middlefield Global Dividend Growers ETF Distributions

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 24, 2025 (GLOBE NEWSWIRE) — Middlefield Global Dividend Growers ETF (TSX: MDIV) (the “Fund”) is pleased to announce that distributions for the third quarter of 2025 will be payable to unitholders of Middlefield Global Dividend Growers ETF as follows:

    Record Date Payable Date Distribution Per
    Trust Unit
    July 31, 2025 August 15, 2025 $0.06
    August 31, 2025 September 15, 2025 $0.06
    September 30, 2025 October 15, 2025 $0.06
         

    The trust units trade on the Toronto Stock Exchange under the symbol MDIV.

    The Fund offers a distribution reinvestment plan (“DRIP”) for unitholders which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor.

    Middlefield

    Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

    The MIL Network –

  • MIL-OSI Submissions: Yellowstone has been a ‘sacred wonderland’ of spiritual power and religious activity for centuries – and for different faith groups

    Source: The Conversation – USA (3) – By Thomas S. Bremer, Professor Emeritus of Religious Studies, Rhodes College

    Beehive Geyser, in the Upper Geyser Basin of Yellowstone National Park. Thomas S. Bremer

    Nearly 5 million travelers come to Wyoming to visit Yellowstone National Park each year, most in the summer months. They come for the geysers, wildlife, scenery and recreational activities such as hiking, fishing and photography.

    However, few realize that religion has been part of Yellowstone’s appeal throughout the park’s history. My 2025 book “Sacred Wonderland” documents how people have long found holiness in Yellowstone: how a landscape once sacred to Native Americans later inspired Christians and New Age communities alike.

    Native reverence – and removal

    Long before European Americans “discovered” the Yellowstone region in the 19th century, numerous Indigenous peoples were aware of its unique landscape – particularly geysers, hot springs and other hydrothermal wonders. Several tribal groups engaged in devotional practices long before it became a park. These included the Tukudika, or Sheep Eaters, a band of mountain Shoshone. They lived year-round within the boundaries of what would become the national park.

    Anthropologists know relatively little about the specific beliefs that Native Americans held about Yellowstone during this era. However, it’s clear most of the Indigenous groups who frequented Yellowstone considered it, as historian Paul Schullery concludes, “a place of spiritual power, of communion with natural forces, a place that inspired reverence.”

    Lower Falls of the Yellowstone River, Yellowstone National Park.
    Thomas S. Bremer

    After the Civil War, more Euro-Americans entered the region. In 1872, the U.S. government created Yellowstone as the first national park, setting a precedent for others in the United States and around the world.

    Yellowstone and other U.S. national parks established in the 19th century were products of manifest destiny: the Christian idea that Americans had a divinely ordained right to expand their country across the continent. The nation’s westward expansion included turning supposedly wild, “uncivilized” areas into parks.

    The park system’s creation, though, came at the cost of Indigenous communities. In Yellowstone, the Tukudika were forcibly removed in the 1870s to two reservations in Idaho and Wyoming, as anthropologists Peter Nabokov and Lawrence Loendorf discuss in their book “Restoring a Presence.”

    Christian ministry

    In addition to the concept of manifest destiny, Christians brought their own religious practices to Yellowstone National Park.

    The U.S. Army was responsible for protecting and managing the park from 1886 to 1918. It operated from Fort Yellowstone at Mammoth Hot Springs in the northern part of the park. The last building it erected at the fort was a chapel, which has been in continuous use as a worship space – mostly for Christian groups – since its completion in 1913.

    The Yellowstone National Park Chapel at Mammoth Hot Springs, finished in 1913, was the last building constructed by the U.S. Army at Fort Yellowstone.
    Thomas S. Bremer

    One group that has used the chapel consistently since the 1950s is ACMNP, A Christian Ministry in the National Parks, an evangelical Protestant parachurch ministry founded in Yellowstone. Its volunteers conduct worship services and proselytize among employees and visitors.

    ACMNP began as the brainchild of Presbyterian minister Warren Ost, who had worked as a bellhop at the Old Faithful Inn during summer breaks in seminary. Upon graduation, he formed the ministry, hoping to capitalize on the awe people experience in the parks to affirm believers’ faith and bring new souls to Christ.

    ACMNP’s mission involves placing seminarians and other students in national parks as “worker-witnesses.” They work as paid employees in secular jobs and conduct religious activities after their regular working hours. Additionally, they are encouraged to talk about religion with their fellow workers on the job.

    ACMNP experienced rapid growth in the 1950s and 1960s, boosted by support from National Park Service leadership. Cooperation included reduced-cost housing for their volunteers, and in some parks the superintendents or other high-level officials served on local ACMNP committees.

    At its peak in the 1970s, ACMNP had nearly 300 volunteers working in over 50 locations. However, a federal lawsuit in the 1990s challenged its relationship with the government on the grounds of church-state separation and ended some of the privileges ACMNP had enjoyed. Not long after the legal action, Ost announced his retirement.

    Although the organization has scaled back operations, the ministry in Yellowstone has experienced few changes. ACMNP volunteers continue to offer religious services to park employees and visitors throughout the summer.

    Spiritual fortress

    Another religious group has a very different interpretation of Yellowstone. The Church Universal and Triumphant, which had several thousand members at its height, was founded by Elizabeth Clare Prophet in the 1970s, based on the teachings of her late husband, Mark Prophet.

    The Church Universal and Triumphant is an heir to the “I AM” movement, which flourished in the U.S. during the 1930s. Most prominent among I AM’s influences were theosophy, which promotes esoteric knowledge gleaned from Asian religious traditions as a universal wisdom underlying all religions; new thought, which advocates a mind-over-matter spirituality; and spiritualism, which involves communicating with spirits.

    In the 1980s, Prophet’s followers relocated from California to Montana, where they purchased a large ranch adjacent to Yellowstone National Park’s northwest boundary. With them, they brought an eclectic New Age theology that combines elements of Christianity, Buddhism and Hinduism with belief in “ascended masters,” spiritual beings who guide the church. The group’s tradition teaches that beneath Yellowstone are two underground caverns, hidden from human view, that contain a cache of sacred stones with spiritual powers.

    The Church Universal and Triumphant gained attention in the ‘90s when its believers in Montana built underground bunkers. Members believed that their ascended masters had predicted a nuclear war and had instructed the community to prepare to survive underground. When the prophecy of a nuclear attack did not materialize, many members became disillusioned.

    The group struggled to rebuild its reputation and establish goodwill with Montana neighbors, including the National Park Service. Elizabeth Clare Prophet retired in 1999, and since then the church has concentrated more on its publishing and educational enterprises. However, a core community of the faithful still live and worship on their Royal Teton Ranch adjacent to Yellowstone.

    The main church sanctuary at Church Universal and Triumphant headquarters, just outside Yellowstone National Park.
    Thomas S. Bremer

    Although the community teaches that its Montana ranch is a sacred location of the ascended masters, followers’ holiest place in the Western Hemisphere is roughly 35 miles south of Yellowstone, in Grand Teton National Park. They believe humanity began at Grand Teton Mountain and that the faithful will find their destiny there.

    Accordingly, members believe that Yellowstone and Grand Teton national parks are brimming with spiritual powers, sacred sources of light and energy for the entire world.

    In my conversations with people in the park, I found that very few knew anything about Yellowstone’s religious history at all – especially Native American practices. The ongoing practices of religious communities in the park remain invisible to nearly all visitors. Still, many vacationers interpret Yellowstone’s wonders as evidence of God’s handiwork.

    Thomas S. Bremer received funding in the past to conduct historical research for the National Park Service at Lincoln Home National Historic Site in Springfield, Illinois.

    – ref. Yellowstone has been a ‘sacred wonderland’ of spiritual power and religious activity for centuries – and for different faith groups – https://theconversation.com/yellowstone-has-been-a-sacred-wonderland-of-spiritual-power-and-religious-activity-for-centuries-and-for-different-faith-groups-261045

    MIL OSI –

  • MIL-OSI Submissions: As Mexico’s LGBTQ+ community battles for inclusion, two drag performers have become internet stars – with more than 2 million TikTok followers

    Source: The Conversation – USA (2) – By Francisco Tijerina, PhD Candidate in Hispanic Studies, Washington University in St. Louis

    Turbulence Queen, left, and Burrita Burrona perform at the Mexico City Pride Parade in June 2024. Jaime Nogales/Medios y Media via Getty Images News

    In January 2022, Erick Martínez, also known as Turbulence Queen, introduced a guest on his YouTube channel: Ivan “Momo” Guzmán, with the stage name Burrita Burrona, a drag performer wearing a cartoonish donkey costume topped by a wig.

    During their interview, Turbulence and Burrita shared stories, gossiped and threw shade at Mexican actors, newscasters and performers. Soon after, their careers took off.

    Before Burrita’s first appearance, Turbulence’s YouTube channel had fewer than 5,000 subscribers. Now, after the rebranding of the show to include Burrita’s name, their channel has about 375,000. More than 2 million subscribe to them on TikTok – Turbulence, with 600,000 followers and 16 million likes; Burrita with 1.5 million followers and 28 million likes. Their “El Podcast del Momento” has more than 225,000 subscribers.

    The two proved so popular that corporate sponsors started getting in on the action. Soriana, a large supermarket chain in Mexico, splashed their images on a line of cakes. Netflix Latin America had them hosting a series of videos promoting its new South Korean dramas. The media giant Televisa included Turbulence and Burrita as part of their comedic coverage of the 2024 Paris Olympics.

    Over the past 3 ½ years, the YouTube show has added some new characters, including Burrita’s mom and an on-and-off love interest, a butch lesbian wolf. Along with the interviews, the characters do comedic cooking segments and sketches. Even in today’s fragmented and cluttered media environment, the program regularly gets around 250,000 views, with some episodes reaching more than 1 million.

    While drag performers are not new in Mexico, Burrita is something of a novelty: a drag mascot. Although long a part of Mexico’s commercial culture – mascots promote everything from soccer teams to pharmacies and are a staple at children’s birthday parties – Burrita is the first to do it in drag.

    A clip from an episode of ‘El Podcast del Momento.’

    Discrimination and violence

    As a Mexican scholar who specializes in the study of gender and sexuality, I’m struck by how these LGBTQ+ characters have become enormously popular in what I consider a relatively conservative and deeply religious country. However, that too is changing: Today’s Mexico is sometimes called a conservative country with liberal laws. Still, in a country where about 5% of the population self-identify as LGBTQ+, the battle for inclusion – and more diverse representation of gender and sexuality – is far from over.

    In 2023, conservative groups pressured the International Book Fair of Monterrey to cancel a public short-story reading by drag queens. In 2024, a social media influencer’s misogynistic, homophobic and transphobic remarks ran live on national television. Also in 2024, San Nicolás de los Garza, a city of more than 400,000 people, banned public performances by drag queens. Ironically, San Nicolás is in the state of Nuevo Leon, which has one of the largest LGBTQ+ populations in Mexico.

    Indeed, national policies protecting the LGBTQ+ community don’t always apply equally; some states are more restrictive than others. For example, although Mexico’s Supreme Court legalized same-sex marriage in 2015, three states have yet to ratify it in their state constitutions.

    Turbulence Queen is interviewed on local TV at a 2023 red carpet event in Mexico.
    Jaime Nogales/Medios y Media via Getty Images Entertainment

    In May 2025, Mexico’s National Institute of Statistics and Geography reported these findings: 60% of the LGBTQ+ community say they’ve been subjected to some form of violence. Nearly 30% have had suicidal thoughts or have attempted suicide. Just over 37% say they experienced some form of discrimination during the past year. From 2020 to 2025, 25% said they were denied access to health care, education or social support. Hate crimes are on the rise, with 672 reported over a five-year period, including 141 in 2024, a significant jump from the 92 reported in 2023. The 2024 statistic includes 55 murders of transgender women.

    Taking off the mask

    Turbulence and Burrita’s swift success is impressive, but not all LGBTQ+ citizens in Mexico enjoy the same level of recognition and privilege. And as the fight for equal treatment continues, the country’s politics over the past decade has shifted. In 2018, leftist Andrés Manuel López Obrador was elected president. His successor, Claudia Sheinbaum, a climate scientist and a close ally of López Obrador’s, was elected in 2024.

    But although both López Obrador and Sheinbaum are more progressive than previous administrations, neither has been particularly vocal about their support for the LGBTQ+ community. For instance: Although Sheinbaum, Mexico’s first female and Jewish president, mentioned her support for the LGBTQ+ community during her campaign, she has largely ignored LGBTQ+ issues since taking office.

    Until recently, there were few openly LGBTQ+ people pitching products or appearing on television. But Guzmán, who’s the first mascot to perform in drag, is not hiding his sexuality, despite the costume. Rather, he can be read as a symbol of Mexico’s ongoing pursuit of equality. And perhaps his character’s visibility will allow more in the community to be able to shed their masks and come out.

    Francisco Tijerina does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. As Mexico’s LGBTQ+ community battles for inclusion, two drag performers have become internet stars – with more than 2 million TikTok followers – https://theconversation.com/as-mexicos-lgbtq-community-battles-for-inclusion-two-drag-performers-have-become-internet-stars-with-more-than-2-million-tiktok-followers-241552

    MIL OSI –

  • MIL-OSI Submissions: Why 2025 became the summer of flash flooding in America

    Source: The Conversation – USA (2) – By Jeffrey Basara, Professor of Meteorology, UMass Lowell

    Rescuers searched for survivors after a flash flood in Texas Hill Country on July 4, 2025, that killed more than 130 people. Jim Vondruska/Getty Images

    The National Weather Service has already issued more than 3,600 flash flood warnings across the United States in 2025, and that number is increasing as torrential downpours continue in late July. There’s a good chance the U.S. will exceed its yearly average of around 4,000 flash flood warnings soon.

    For communities in Texas, New Mexico, West Virginia and New Jersey, the floods have been deadly. And many more states have seen flash flood damage in recent weeks, including New York, Oklahoma, Kansas, Vermont and Iowa.

    What’s causing so much extreme rain and flooding?

    Much of the central and eastern U.S. has had above-normal precipitation over the three months from April 23 through July 24, 2025. Blues are 150% to 200% of normal. Purples are even higher.
    NOAA National Water Prediction Service

    I study extreme precipitation events along with the complex processes that lead to the devastating damage they cause.

    Both the atmosphere and surface conditions play important roles in when and where flash floods occur and how destructive they become, and 2025 has seen some extremes, with large parts of the country east of the Rockies received at least 50% more precipitation than normal from mid-April through mid-July.

    Excess water vapor, weaker jet stream

    Flash floods are caused by excessive precipitation over short periods of time. When rain accumulates too fast for the local environment to absorb or reroute it, flooding ensues, and conditions can get dangerous fast.

    Flooding from heavy rain in the Boston area on July 10, 2025, shut down an interstate and filled streets and garages with water.
    John Tlumacki/The Boston Globe via Getty Images

    During the warm season, intrusions of tropical air with excessive water vapor are common in the U.S., and they can result in intense downpours.

    In addition, the jet stream and westerly winds – which move storm systems from west to east across the U.S. – tend to weaken during summer. As a result, the overall movement of thunderstorms and other precipitation-producing systems slows during the summer months, and storm systems can remain almost stationary over a location.

    The combination of intense rainfall rates and extended precipitation increases the likelihood of flash flooding.

    The surface rain falls on makes a difference, too

    Local surface characteristics also play important roles in how flash floods develop and evolve.

    When intense precipitation is combined with saturated soils, steep slopes, urban areas and sparse vegetation, runoff can quickly overwhelm local streams, rivers and drainage systems, leading to the rapid rise of water levels.

    When the remnants of Hurricane Helene hit the mountains of North Carolina in October 2024, the intense rainfall on steep slopes quickly filled streams and then rivers that washed away homes in their narrow valleys.
    Sean Rayford/Getty Images

    Because the characteristics of the surface can vary significantly along a stream or river, the timing and location of a heavy downpour pose unique risks for each local area.

    What’s driving flash floods in 2025?

    During the horrific flooding in Texas Hill Country on July 4, 2025, that killed more than 135 people, atmospheric water vapor in the region was at or near historic levels. The storm hit at the headwaters of the Guadalupe River, over streams that converge in the river valley.

    As thunderstorms developed and remained nearly stationary over the region, they were fueled by the excessive atmospheric water vapor. That led to high rainfall rates. Hours of heavy rainfall early that morning sent the river rising quickly at a summer camp near Hunt, Texas, where more than two dozen girls and staff members died. Downstream at Kerrville, the river rose even faster, gaining more than 30 feet in 45 minutes.

    Overall, a persistent atmospheric pattern in late spring and summer 2025 has included a shift of the jet stream farther to the south than normal and, along with lower atmospheric pressures, has supported excessive rainfall across the central and eastern U.S.

    While the West Coast has experienced dry conditions in early summer 2025 due to a ridge of high pressure, the U.S. east of the Rockies has seen an active storm track with frontal boundaries and disturbances that produced thunderstorms and intense downpours across the region.

    Warmer-than-normal ocean water can also boost rainfall. The Caribbean and the Atlantic Ocean are source regions for atmospheric water vapor in the central and eastern U.S. In summer 2025, that water vapor has created extremely humid conditions, which have produced very high rainfall rates when storms develop.

    The result has been flash floods in several states producing catastrophic destruction and loss of life.

    Looking to the future

    The U.S. has seen devastating flash floods throughout its history, but rising global temperatures today are increasing the risk of flooding.

    As ocean and air temperatures rise, atmospheric water vapor increases. Higher ocean temperatures can produce more atmospheric water vapor through evaporation, and a warmer atmosphere can hold more moisture, fueling downpours. In some high-risk areas, meteorologists, aware of the risks, say they are becoming more proactive about warnings.

    Currently, evidence shows that atmospheric water vapor is increasing in the overall global climate system as temperatures rise.

    Jeffrey Basara receives funding from the National Science Foundation, NASA, and NOAA.

    – ref. Why 2025 became the summer of flash flooding in America – https://theconversation.com/why-2025-became-the-summer-of-flash-flooding-in-america-261650

    MIL OSI –

  • MIL-OSI Submissions: Why do MAGA faithful support Trump if his ‘big beautiful bill’ will likely hurt many of them?

    Source: The Conversation – USA – By Alex Hinton, Distinguished Professor of Anthropology; Director, Center for the Study of Genocide and Human Rights, Rutgers University – Newark

    Supporters of President Donald Trump demonstrate near his Mar-a-Lago home in Palm Beach, Fla., on July 17, 2025. Joe Raedle/Getty Images

    President Donald Trump signed the wide-ranging One Big Beautiful Bill Act into law on July 4, 2025. It focuses on cutting taxes, mainly for households that earn US$217,000 or more each year, as well as increasing funding for military and border security and revamping social programs.

    Republicans tout it as providing “an economic lifeline for working families” and “laying a key cornerstone of America’s new golden age.”

    Democrat lawmakers argue that, in reality, Trump’s act “steals from the poor to give to the ultra-rich.”

    The act is estimated to increase the country’s debt by more than US$3 trillion over 10 years, while knocking more than 10 million people off Medicaid.

    About 41.4 million adults in the U.S. receive Medicaid. And 49% of Medicaid recipients who voted in the 2024 election backed Trump.

    While 94% of Democrats and Democratic-leaning independents said in a May 2025 survey that they are worried Medicaid cuts will lead to more adults and children losing their health insurance, 44% of Republicans and Republican-leaning independents expressed concern about this, according to the KFF Health Tracking Poll.

    Why, then, do Trump’s Make America Great Again supporters – especially those who will be hit hard by cuts to food assistance programs and health care, including hospitals – continue to support him even as he enacts policies that some think go against their interests? Indeed, over 78% of Republicans or Republican-leaning voters say they support the measure Trump signed.

    As an anthropologist who studies MAGA and American political culture, I understand that many of the MAGA faithful believe that Trump is a once-in-a-lifetime leader who is catapulting the U.S. into a new golden age.

    Sure, their reasoning goes, bumps in the road are expected. But they think that most of the criticism of Trump and this latest bill is ultimately fake news spread by radical leftists who have what some call Trump Derangement Syndrome, meaning anti-Trump hysteria.

    President Donald Trump holds up the One Big Beautiful Bill Act that he signed into law on July 4, 2025, at the White House.
    Alex Brandon − Pool/Getty Images

    Trump alone can fix it

    In the eyes of the MAGA faithful, Trump is no ordinary politician. To them, he is a savior who can help ward off the threat of radical left socialism. They believe Trump’s proclamation: “I alone can fix it.”

    Some see Trump’s survival of an assassination attempt on July 13, 2024, as evidence he is divinely chosen to lead the country. Trump himself claimed during his second inaugural address, “I was saved by God to make America great again.”

    As I have repeatedly observed firsthand at Trump rallies and MAGA gatherings and heard in my conversations with Trump supporters, many Trump supporters – even those whom Democrats contend will be hurt by the bill – see the bill as a key step to making America great again. Doing so will not be easy and may cause some pain.

    But as Trump himself has noted about policies such as tariffs, “sometimes you have to take medicine to fix something.”

    ‘Fake news!’

    Even if the bill may cause some short-term pain, MAGA stalwarts contend, the apocalyptic claims of critics of massive health cuts are hoaxes spread by the radical left media. White House National Economic Council director Kevin Hassett, for example, dubbed the Medicare cut claims “a big fake news story.”

    This view, based on my research and observations, is unsurprising. Trump has been pushing the “fake news conspiracy” theory, which holds that the media is part of the deep state, since his first term. He even dubbed the press “the enemy of the people.”

    Trump’s fake news rhetorical strategy has been successful in helping him maintain support. Trump supporters take it for granted that negative news coverage of the president is most likely fake news.

    The Trump administration frequently invokes this conspiracy theory, including statements with headlines like “100 Days of HOAXES: Cutting Through the Fake News.”

    The White House is taking the same approach with the new legislation. In June 2025, the Trump administration issued a statement stating “Myth vs. Fact: The One Big Beautiful Bill” and “MYTHBUSTER: The One Big Beautiful Bill Cuts Spending, Deficit – and That’s a Fact.”

    There is already evidence that this depiction is resonating in places such as rural Nebraska, where many residents do not blame Trump for a health clinic that claims it is shutting down due to Medicaid cuts. “Anyone who’s saying that Medicaid cuts is why they’re closing is a liar,” said one woman of the clinic’s closure.

    President Donald Trump holds a rally in July 2024 in Harrisburg, Pa.
    Spencer Platt/Getty Images

    ‘Crushing it’ in the Golden Age

    More broadly, the MAGA faithful contend, the bill’s critics miss the bigger picture. For the most part, Trump has been “crushing it” while putting “‘W’ after ‘W’ on the board.”

    From their perspective, Trump has assembled an all-star Cabinet team that is implementing key pillars of the MAGA agenda, such as restricting immigration, blocking unfair trade and avoiding drawn-out wars.

    Trump supporters underscore the president’s accomplishments on immigration. Attempted unauthorized border crossings of migrants have plummeted in 2025, amid a rise in arrests of immigrants.

    “Our message is clear,” stated Department of Homeland Security Assistant Secretary Tricia McLaughlin, “criminal illegal aliens are not welcome in the United States.”

    Gas prices are also down. Trump has followed through on his pledge to supporters to purge what he calls the deep state, by downsizing or gutting entire government departments and agencies.

    Trump has clamped down on woke universities that brainwash students, as MAGA supporters see it.

    He withheld funding from the University of Pennsylvania until it agreed to ban transgender women from playing on women’s sports teams. Trump also cut $400 million in funding for Columbia University because the administration said it did not sufficiently protect Jewish students from harassment during Palestinian rights protests.

    And Israeli Prime Minister Benjamin Netanyahu even nominated Trump for the Nobel Peace Prize in July for his diplomatic work in the Middle East.

    Recounting Trump’s foreign policy achievements, one conservative commentator gushed that Trump “promised we would win so much we’d get tired of winning. Instead, the wins keep coming – and America isn’t tired at all.”

    Trumpism = Trump

    Yet, Trump faces challenges.

    A June 2025 KFF Health Tracking Poll found that support for the new legislation decreased when people were informed about its negative health care impact, for example.

    Republicans could also face backlash in 2028 after the full impact of the act takes effect and people lose health insurance and other public benefits.

    Regardless, I believe MAGA faithful will likely continue to support Trump.

    They may argue over parts of his bill, the airstrikes on Iran or the release of the Jeffrey Epstein files.

    But, in the end, they will circle the wagons around Trump for a simple reason. Trump created the MAGA movement. He dominates the Republican Party. And there is no Trumpism without Trump.

    Alex Hinton receives receives funding from the Rutgers-Newark Sheila Y. Oliver Center for Politics and Race in America, Rutgers Research Council, and Henry Frank Guggenheim Foundation.

    – ref. Why do MAGA faithful support Trump if his ‘big beautiful bill’ will likely hurt many of them? – https://theconversation.com/why-do-maga-faithful-support-trump-if-his-big-beautiful-bill-will-likely-hurt-many-of-them-260766

    MIL OSI –

  • MIL-OSI Europe: EU sends firefighting planes to Cyprus

    Source: European Union 2

    The EU has mobilised 2 Canadair airplanes from the EU’s joint firefighting fleet in response to a request for assistance from Cyprus, following a major fire in its Limassol district. The EU has already responded to several wildfire emergencies in Albania and North Macedonia this summer.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Business leaders welcome the UK-India Free Trade Agreement

    Source: United Kingdom – Executive Government & Departments

    Press release

    Business leaders welcome the UK-India Free Trade Agreement

    Business leaders have strongly welcomed the signing of the UK-India Free Trade Agreement.

    Business leaders have strongly welcomed the signing of the UK-India Free Trade Agreement, as Business and Trade Secretary, Jonathan Reynolds and India’s Commerce and Industry Minister, Piyush Goyal, signed the landmark trade deal.

    The £4.8bn trade deal will unlock economic growth for each region and nation of the UK, and is widely backed by large and small businesses across aerospace, financial and professional services, food and drink, and the automotive sector.

    Business Groups  

    Rain Newton-Smith, CEO, CBI said: 

    In an era of rising protectionism, today’s announcement sends a powerful signal that the UK is open for business and remains resolute in its commitment to free and fair trade.  

    A trade agreement with India – one of the world’s fastest-growing economies – is a springboard for long-term partnership and prosperity. UK firms can take advantage of this new platform to scale, diversify and compete on the global stage.  

    The CBI looks forward to working closely alongside the Confederation of Indian Industry to turn ambition into action and negotiation into real-world impact. Ensuring this agreement delivers tangible benefits for businesses on both sides will be critical to meeting the UK’s growth ambitions.

    William Bain, Head of Trade Policy at the BCC, said: 

    The signing of this agreement is a clear signal of the UK’s continuing commitment to free and fair trade. It will open a new era for our businesses and boost investment between two of the world’s largest economies.    

    Currently around 16,000 UK companies are trading goods with Indian companies, and there is high interest in our Chamber Network to grow that.  This deal will create new opportunities in the transport, travel, creative and business support sectors alongside traditional strengths in finance and professional services.

    Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said: 

    India is the fourth largest economy in the world, and today’s trade deal provides exciting growth potential for UK small businesses. 

    Already one-in-seven (14%) of our members who export have India among their overseas markets, and this deal opens the way for that number to grow. It’s welcome that the agreement includes a specific small business chapter. 

    Encouraging more small firms to trade internationally, and making it easier for those who already do to increase their international trade, is an important flank in the quest for economic growth. Reducing barriers is key to achieving that.

    Richard Heald OBE, Chair, UK-India Business Council, said:  

    The UK-India FTA marks a historic milestone in the bilateral relationship.

    Businesses across both countries have long called for an agreement that reduces barriers, enhances market access, and creates a clear framework for long-term, sustainable growth. We congratulate both governments for their commitment and ambition in bringing this complex negotiation to fruition. Success in the FTA will support further economic growth for the world’s 5th and 6th largest economies. It will catalyse collaboration into other areas too.

    Aerospace  

    Tufan Erginbiligic, Rolls-Royce CEO, said: 

    India is an important market for our business, with over 90 years of partnership with Indian industry and the Indian Government.

    We welcome the provisions in this Free Trade Agreement, including those that bring closer alignment with international standards for trade in civil aerospace.

    These agreements will benefit Rolls-Royce and our customers, paving the way for future aerospace growth in India.

    Financial and professional services 

    Ian Stuart, CEO of HSBC UK, said: 

    Today’s signing of the UK-India Free Trade Agreement marks an important milestone for both countries.

    This is a vibrant and fast-growing corridor and will bring huge opportunities for both British and Indian businesses as they seek to grow internationally.  

    As the world’s largest trade bank with deep roots in both countries, we look forward to supporting our clients to take advantage of the full benefits of this historic agreement. 

    Bill Winters CBE, Group Chief Executive of Standard Chartered and Co-Chair of the UK-India Financial Partnership, said: 

    This landmark agreement between the UK and India – two of the world’s largest and most dynamic economies – is a tremendous achievement.

    It will drive greater innovation, unlock growth, and build prosperity across this long-established corridor of trade, capital and investment.

    As one of the largest and oldest international banks in India, we welcome the certainty the FTA provides for UK services and the meaningful opportunities that lower tariffs will create for businesses large and small in both markets.

    Rohan Malik, EY EMEIA and UK & Ireland Government & Public Sector Managing Partner, said:   

    Over the past decade, total trade value between the UK and India has more than doubled from £16.6bn to £40bn and this agreement will further strengthen the flourishing economic relationship between the two countries. 

    Enhanced access to one of the world’s largest markets should offer considerable advantages for financial and professional services businesses, unlocking commercial opportunities and supporting growth across two strategically significant sectors of the UK economy.

    Adam Gagen, Global Head of Government Affairs at Revolut, said:  

    As a UK fintech with significant business in India, we welcome the announcement of this UK-India FTA.

    It is an important partnership to bring these two vital economies closer together and to foster improved trade links, better investment flows and more jobs.

    Revolut looks forward to working with the UK Government to maximise the value of this FTA and we strongly congratulate the hard work of DBT for getting this over the line.

    Nicola Watkinson, Managing Director for International, TheCityUK, said:  

    India is a market with huge growth potential and a strong FTA between our two markets will open up valuable new trade and investment opportunities for UK businesses.

    The UK financial and related professional services industry is well placed to support India’s growth ambitions through the provision of services in areas such as green finance, risk management and capital market development, as well as benefit from India’s digital innovations.

    We welcome the formal signing of the FTA and look forward to continuing to build on its foundations to forge a strong and lasting partnership with India.

    Automotives  

    Mike Hawes, SMMT Chief Executive, said:  

    The UK-India trade agreement represents a significant achievement, partially liberalising the Indian automotive market for the first time.

    While the highly complex deal confirms some compromises, its entry into force will provide commercial opportunities for UK manufacturers who will be able to access vastly reduced tariffs on internal combustion vehicles from day one, and on electrified vehicles and parts in the longer term.

    To ensure maximum and timely benefit, we now need rapid ratification and renewed efforts to agree fair and workable solutions on tariff-rate-quotas administration.

    A JLR spokesperson said:  

    We welcome this free trade agreement between the UK and India, which over time will deliver reduced tariff access to the Indian car market for JLR’s luxury vehicles.

    India is an important market for our British built products and represents significant future growth opportunities.

    Food and drink 

    Nik Jhangiani, Interim Chief Executive, Diageo, said: 

    This agreement marks a great moment for both Scotch and Scotland, and we’ll be raising a glass of Johnnie Walker to all those who have worked so hard to get it secured. 

    Jean-Etienne Gourgues, Chivas Brothers Chairman and CEO, said: 

    Signature of the UK-India FTA is a sign of hope in challenging times for the spirits industry. 

    India is the world’s biggest whisky market by volume and greater access will be an eventual game changer for the export of our Scotch whisky brands, such as Chivas Regal and Ballantine’s.

    The deal will support long term investment and jobs in our distilleries in Speyside and our bottling plant at Kilmalid and help deliver growth in both Scotland and India over the next decade.

    Let’s hope that both governments will move quickly to ratification so business can get to work implementing the deal!

    Mark Kent, Chief Executive of the SWA said:  

    The Scotch Whisky industry has long championed a free trade agreement between the UK and India.

    The signing of the FTA is an historic moment and is an important milestone to reducing tariffs on Scotch Whisky in a growing market.

    This will contribute to the government’s growth objective, by laying the foundations for further investment and jobs.

    George Hyde, Head of Trade, The Food and Drink Federation: 

    We’re pleased to see the details of the new Free Trade Agreement with India, with tariffs for iconic British products, including chocolate, breakfast cereals and biscuits set to be phased out over the next decade.

    We also welcome that this agreement protects the UK’s sugar and rice milling sectors, reflecting the vital role these industries play in boosting local economies. 

    With exports of UK food and drink to India already worth nearly £300 million annually, improved access to this growing market will help strengthen the competitiveness of our sector and help future-proof the nation’s food security.

    We look forward to working with government to help businesses make the most of this opportunity.

    Nick Spencer, Export and Travel Retail Manager at Southwestern Distillery Ltd, said: 

    There are tremendous hurdles for UK spirits producers in terms of entering and succeeding in the Indian market.

    The extremely high import tariffs are probably the most significant barrier to entry we have experienced anywhere internationally.

    The FTA is a fabulous step forward. Since its announcement, we have already received significant new interest from Indian importers and the prospect of success in the Indian market now looks much brighter.

    Stephen Davies, Chief Executive of Penderyn Distillery, said:  

    We are developing our business and brand awareness in both domestic and travel retail sectors in India. It’s an exciting and developing market for us.

    The agreement to reduce tariffs will provide a better platform for us and our industry to develop links and build business over the next five years.

    These are exciting times. 

    Medtech  

    Gordon Sanghera, CEO of Oxford Nanopore Technologies, said:  

    The UK-India Free Trade Agreement is more than a policy document it’s a foundation for action. 

    India’s deep scientific talent, clear ambition and growing global influence make it one of the most exciting places in the world to build long-term partnerships in science and healthcare.

    And this moment, with the FTA in place, gives companies like ours the confidence to invest, to scale and to co-create in ways that weren’t possible before.

    Deepak Nath, Chief Executive Officer, Smith+Nephew, said: 

    Given the size of the Indian economy and its healthcare system, India is an important location for Smith+Nephew. The Free Trade Agreement offers the potential to build trading links in the healthcare sector. 

    We hope that the Free Trade Agreement will enable Smith+Nephew’s innovative medical technologies to support more healthcare professionals to return their patients to health and mobility.

    Philip McKee, Sales Manager at Biopanda, a Belfast-based medtech manufacturer which exports in vitro test kits for clinical laboratories, veterinary practice, and food safety laboratories, said:   

    Biopanda have been supplying a range of diagnostic products to the Indian market throughout the past ten years. We value the business we have done already throughout India and with the introduction of the UK-India FTA this should benefit in increased trade with the removal of export barriers.  

    This will hopefully increase the market access, allowing our distributors throughout India to provide a larger range of our highly accurate clinical diagnostic products at a lower price to the consumer. 

    Manufacturing 

    Graeme Macdonald, JCB Chief Executive, said:  

    India is a great country in which to do business. JCB has been manufacturing machines there since 1979. So, we know India very well and the opportunity for British businesses in that huge market is significant.  

    It’s the fifth largest economy in the world and is tipped to become the third largest by 2028. This Free Trade Agreement should give British businesses the confidence they need to enter the market, trade more easily and benefit from the massive opportunity.

    Professor Carl Stephen Patrick Hunter OBE, Chairman Coltraco Ultrasonics Limited & Director-General The Durham Institute of Research, Development & Invention, said: 

    Coltraco Ultrasonics is strongly supportive of the India FTA Trade Agreement and proud to have modestly contributed to and advising the British negotiating team on various chapters. 

    The UK private sector can now, because of the India FTA, the Windsor Framework CPTPP, and a variety of other UK FTAs, look out to the world, balancing our exporting and investment opportunities between the USA, the EU and Asia Pacific. 

    It is a tremendous success and we thank British and Indian Civil Servants for their public service in the UK-India FTA.

    Mark Ridgway OBE DL, CEO of Rhodes Group, said: 

    As a manufacturer of advanced metalforming machinery used in the forming and lightweighting of aircraft, India is a strong market for Group Rhodes and offers significant growth potential. The recent UK-India trade deal not only sets the scene for reduced tariffs on machinery but also serves to both enhance our competitiveness as a UK exporter and reduce the complexity of trade with this fast-growing market. 

    Importantly, the UK-India FTA recognises UK origin content of at least 20% as qualification as a ‘local supplier’ in India. This provides equal treatment in the Indian government procurement process and the opportunity for Group Rhodes to build on its existence reference sites within the Indian aerospace sector.

    Idir Boudaoud, Founder and CEO at Sensoteq, said: 

    India is a key growth market for Sensoteq — its vast and rapidly evolving manufacturing sector aligns perfectly with our mission to improve machine reliability through smarter monitoring. This trade deal is a real breakthrough for us. 

    Simplified and transparent customs procedures, modernised rules of origin, and stronger IP protections mean we can enter the market with greater speed, confidence, and security. 

    This agreement gives businesses like ours the access and assurance needed to thrive in one of the world’s most important industrial markets.

    William Crawford, Director of Concrete Canvas Ltd, said:  

    India is a dynamic and vibrant economy and an increasingly important market for Concrete Canvas products. A UK-India FTA will help to accelerate our plans for growth by reducing trade barriers and making us more competitive. 

    This is welcome news for both UK and Indian businesses!

    Creative Industries 

    Richard Masters, Premier League Chief Executive, said: 

    India continues to be incredibly important to the Premier League and our clubs. It is a vibrant country that presents exciting opportunities and significant potential. The opening of our office in Mumbai earlier this year was a significant milestone for the Premier League, demonstrating our commitment to build on longstanding work to engage local fans, develop grassroots and elite football and further promote the game in India.   

    The continued growth of the Premier League and UK businesses in India will have a positive impact on our domestic economy. We welcome the signing of this new trade deal which will support UK businesses operating in India.

    Richard Pring, Co-Founder at Wales Interactive, said: 

    The UK-India Free Trade Agreement has the potential to strengthen creative partnerships and streamline production across borders. With India’s vast film and television industry, it creates new opportunities for studios like ours to collaborate with international talent and share our interactive stories and games with even wider audiences. 

    Digital and Tech 

    Simon Hansford, Chief Commercial Officer at Civo, a cloud provider founded in Hertfordshire, said:  

    The UK-India trade deal is a game-changer for UK businesses. Significant tariff reductions on our exports will mean our products can be more competitive and accessible in India’s rapidly growing market. Guaranteed access to India’s public procurement market and simplified customs processes could be transformational for many.  

    This deal offers substantial benefits, boosting confidence and creating new avenues for growth in areas that were previously challenging to navigate, making it easier for UK SMEs to trade and thrive internationally.

    Clean Energy  

    Neil Spann, CEO of Power Roll, said: 

    As a UK clean energy company committed to fostering global impact, the UK-India trade agreement marks a significant milestone for us.  It lowers barriers to entry and enhances our ability to collaborate with Indian partners in one of the world’s most dynamic renewable energy markets. India’s ambitious solar targets and drive for domestic innovation align perfectly with our flexible solar technology and long-term growth strategy.  

    As one of the world’s fastest-growing economies and a key player in the global renewable energy transition, India presents a major opportunity for UK clean energy technology. This trade deal enables us to position UK flexible solar as a key solution to India’s energy goals. We are excited to continue to build upon our existing relationships with valued collaborators by expanding our presence in India following a successful visit earlier this year.

    Transport 

    Chris Woodroofe, Manchester Airport Managing Director, said:  

    We are proud this new route with IndiGo will deliver growth here in the North, and for the UK as a whole. 

    Boosted by the new UK-India FTA, the direct connectivity it provides will unlock opportunities for the region’s businesses to trade with India and will facilitate investment into the UK. 

    That will help turbo charge the Government’s Industrial Strategy by boosting innovation and productivity in the sectors that will sit at the heart of the country’s future prosperity.

    Textiles  

    Bill Leach, Global Sales Director, John Smedley Ltd, said: 

    India is one of the fastest growing luxury markets in the world, and we are very excited about the UK- India Free Trade Agreement coming to fruition. 

    John Smedley knitwear is already sold in over 50 countries around the world, and now that the FTA has been signed, we shall very much look forward to ensuring that an ever-increasing number of discerning luxury consumers in India will enjoy greater access to The World’s Finest Knitwear. 

    We are thankful to DBT for their significant efforts in bringing this FTA to successful conclusion.

    Cosmetics 

    Dr Emma Meredith OBE, Director-General, CTPA (Cosmetic, Toiletry and Perfumery Association), said:  

    The UK-India Free Trade Agreement (FTA) represents a significant opportunity for the cosmetics and personal care industry.  Tariff reduction and the commitments to ongoing cooperation will enhance market access and create new opportunities for growth for UK brands and manufacturers.  CTPA welcomes the strengthening of the bilateral ties through the negotiation process, a great first step in the delivery of substantial benefits for our sector.

    Updates to this page

    Published 24 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Minister Hajdu represents Canada at the UN High-Level Political Forum on Sustainable Development

    Source: Government of Canada News

    July 24, 2025                    New York City, New York                  Employment and Social Development Canada

    The Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario, concluded a series of engagements at the United Nations High-Level Political Forum on Sustainable Development in New York City from July 21 to 23, 2025. The Forum is an opportunity for UN countries to gather and discuss progress made toward the 17 Sustainable Development Goals (SDGs). These goals are a collective call to action to end poverty, protect the planet, and build a just, peaceful and inclusive world for all. 

    Minister Hajdu presented Canada’s National Statement on the SDGs, reaffirming our country’s work towards international collaboration and in advancing the 2030 Agenda. Minister Hajdu emphasized our collective duty to work with national and international partners to drive meaningful change and build a more peaceful, inclusive and prosperous world, for the next generations. 

    On July 22, Minister Hajdu participated in the High-Level Dialogue on Adequate Housing for All, alongside Bob Rae, Canada’s Permanent Representative to the United Nations in New York, in his capacity as President of the UN Economic and Social Council. This session highlighted Canada’s focus on housing as a key strategy for reducing poverty, promoting equity, and fostering an inclusive society.

    On the Forum’s final day, Minister Hajdu hosted Canada’s official side event on inclusive and sustainable jobs. This event brought together diverse stakeholders to explore how digital education, disability inclusion, and private sector engagement can help build more inclusive economies. 

    While at the UN, Minister Hajdu and Alexei Buzu, Minister of Labour and Social Protection for the Republic of Moldova, also signed a Declaration of Intent to establish a Canada-Moldova Social Security Agreement. This marks a key step in strengthening bilateral ties and advancing shared goals of inclusion, equity and resilience.

    Canada is focused on advancing the 2030 Agenda both domestically and internationally. While the Government of Canada leads this initiative, partnerships with other orders of government, stakeholders, Indigenous Peoples, and the public are crucial for our collective success.   

    MIL OSI Canada News –

  • MIL-OSI: Bread Financial Announces Modified Dutch Auction Cash Tender Offers for 9.750% Senior Notes Due 2029 and/or 8.375% Fixed-Rate Subordinated Notes due 2035

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, July 24, 2025 (GLOBE NEWSWIRE) — Bread Financial Holdings, Inc. (NYSE: BFH) (“Bread Financial” or the “Company”) today announced it has commenced cash tender offers (the “Tender Offers” and each, a “Tender Offer”) to purchase up to $150.0 million (subject to increase, the “Aggregate Tender Cap”) aggregate principal amount of its 9.750% Senior Notes maturing March 2029 (the “2029 Notes”) and/or its 8.375% Fixed-Rate Reset Subordinated Notes due 2035, maturing June 2035 (the “2035 Notes” and, together with the 2029 Notes, the “Notes”) subject to (i) the aggregate principal amount of all 2029 Notes accepted for purchase not exceeding $100.0 million (the “2029 Notes Sublimit”) and (ii) the aggregate principal amount of all 2035 Notes accepted for purchase not exceeding $50.0 million (the “2035 Notes Sublimit” and, together with the 2029 Notes Sublimit, the “Sublimits” and each, respectively, a “Sublimit”). The Tender Offers are being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated July 24, 2025 (as it may be amended or supplemented, the “Offer to Purchase”).

    The Tender Offers will expire at 5:00 p.m., New York City time, on August 21, 2025, unless extended or earlier terminated as described in the Offer to Purchase (such date and time, as they may be extended, the “Expiration Time”), with an early participation deadline of 5:00 p.m., New York City time, on August 6, 2025 (the “Early Participation Date”), unless extended or earlier terminated.

    The total consideration payable for each $1,000 principal amount of each series of Notes will be determined based on a modified “Dutch Auction” procedure for each series. Holders of the Notes (“Holders”) who validly tender (and do not validly withdraw) their Notes before 5:00 p.m., New York City time, on the Early Participation Date, and whose Notes are accepted for purchase by the Company, will be eligible to receive the “Total Consideration,” which includes an “Early Participation Amount” of $50.00 for each $1,000 principal amount of the Notes validly tendered. The Company may, but is not obligated to, following the Early Participation Date and prior to the Expiration Time, elect to accept the Notes validly tendered by Holders on or prior to the Early Participation Date, for settlement on such date or promptly thereafter (the “Early Payment Date”) in one or both Tender Offers. If the Company elects to have an Early Payment Date for one or both Tender Offers, it is currently expected to be August 11, 2025, though it will issue a press release announcing the date selected as such Early Payment Date. Holders who validly tender their Notes after the Early Participation Date and on or prior to the Expiration Time, and who have their Notes accepted for purchase by the Company, will not be eligible to receive the Early Participation Amount and will only receive the Total Consideration minus the Early Participation Amount (the “Tender Offer Consideration”) on the final payment date (the “Final Payment Date”). The Final Payment Date is currently expected to occur on August 26, 2025. Holders that hold both 2029 Notes and 2035 Notes may participate in one, both or neither of the Tender Offers.

    Holders electing to participate may specify the minimum applicable Total Consideration (the “Bid Price”) they would be willing to receive in exchange for each $1,000 principal amount of each series of Notes they choose to tender in the Tender Offers. The Bid Price that Holders specify for each $1,000 principal amount of each series of Notes must be within the applicable range set forth in the table below and must be in increments of $1.25. The following table sets forth certain terms of the Tender Offers:

        
    Series of Notes
    		   CUSIP / ISIN   Aggregate
    Principal Amount
    Outstanding    		   Sublimit (3)   Total Consideration
    (Acceptable Bid
    Range)(1)(2)    		   Early Participation
    Amount(1)
    9.750% Senior Notes maturing March 2029   144A: 018581AP3 / US018581AP34
    Reg S: U0179AK2 / USU01797AK20
    Reg S: U01797AL0 / USU01797AL03    		   $750,012,000   $100,000,000   $1,040 — $1,070   $50.00
    8.375% Fixed-Rate Reset Subordinated Notes maturing June 2035   144A: 018581AQ1 / US018581AQ17
    Reg S: U01797AM8 / USU01797AM85    		   $400,000,000   $50,000,000   $995 — $1,025   $50.00
         
    (1)    Per $1,000 principal amount of Notes that are accepted for purchase by the Company.
    (2)    Includes the $50.00 Early Participation Amount.
    (3)    Subject to Aggregate Tender Cap.
     

    As more fully described in the Offer to Purchase, the Total Consideration for each $1,000 principal amount of each series of Notes validly tendered by Holders (and not validly withdrawn) pursuant to the respective Tender Offer on or prior to the Early Participation Date and accepted for purchase by the Company (subject to proration, if applicable) will be equal to the sum of: (1) the “Base Price” for that series of Notes, which also is equal to the minimum Bid Price, and (2) the “Clearing Premium” for that series of Notes, which will be determined by consideration of the bid premiums of all validly tendered (and not validly withdrawn) Notes of such series on or prior to the Early Participation Date, in order of lowest to highest bid premiums. If the aggregate amount of the Notes of a series validly tendered (and not validly withdrawn) in a Tender Offer at or below the Clearing Premium for such series would cause the Company to accept an aggregate principal amount of Notes of such series in excess of the applicable Sublimit for such series under the applicable Tender Offer, then Holders of Notes of such series tendered at the applicable Clearing Premium will be subject to proration as described in the Offer to Purchase.

    Tendered Notes may be withdrawn any time on or prior to 5:00 p.m., New York City time, on August 6, 2025, unless extended by the Company (such date and time, as the same may be extended or earlier terminated, the “Withdrawal Date”). Notes validly tendered after the Withdrawal Date may not be withdrawn or revoked, unless otherwise required by law. The Tender Offers are subject to the satisfaction or waiver of a number of conditions as set forth in the Offer to Purchase. The Company may amend, extend or terminate the Tender Offers in its sole discretion and subject to applicable law.

    The Company reserves the right, subject to applicable law, to (a) extend the Early Participation Date, the Withdrawal Date or the Expiration Time, in each case, to a later date and time; (b) increase the Aggregate Tender Cap, the 2029 Notes Sublimit and/or the 2035 Notes Sublimit; (c) waive in whole or in part any or all conditions to either Tender Offer; (d) delay the acceptance for purchase of any Notes or delay the purchase of any Notes; (e) increase the maximum bid price (as described in the Offer to Purchase) for one or both series of Notes; (f) decrease the minimum bid price or the maximum bid price (each as described in the Offer to Purchase), in each case, for one or both series of Notes; or (g) otherwise modify or terminate the Tender Offers. The Company does not intend to extend the Early Participation Date, the Withdrawal Date or the Expiration Time unless required by law or otherwise in its sole discretion.

    J.P. Morgan Securities LLC is acting as the sole lead dealer manager and BMO Capital Markets Corp., CIBC World Markets Corp., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., Truist Securities, Inc., Fifth Third Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are acting as co-dealer managers for the Tender Offers. D.F. King, Inc. is serving as the information agent and tender agent. Copies of the Offer to Purchase and related tender offering materials are available by contacting the information agent at (212) 448-4476 (banks and brokers) and at (866) 340-7108 or by email at bread@dfking.com. Questions regarding the Tender Offer should be directed to J.P. Morgan at (866) 834-4666 (toll free) or (212) 834-7489 (collect).

    None of the Company, the sole lead dealer manager, the co-dealer managers, the information agent and tender agent or the trustee for the Notes makes any recommendation as to whether Holders should tender any Notes in response to the Tender Offers. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amount of Notes and the Bid Price or Bid Prices at which to tender. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The Tender Offers are being made solely by means of the Offer to Purchase. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of the Company by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.

    Cautionary Statement on Forward-Looking Language
    This news release may contain forward-looking statements, including, but not limited to, our financing plans and the details thereof, including the proposed tender offer of the Notes and the other expected effects of such transaction. Forward-looking statements may generally be identified by the use of the words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

    We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts and natural disasters; future credit performance of the Company’s customers, including the level of future delinquency and write-off rates; loss of, or reduction in demand for services from, significant brand partners or customers in the highly competitive markets in which the Company competes; the concentration of the Company’s business in U.S. consumer credit; increases or volatility in the Allowance for credit losses that may result from the application of the current expected credit loss (CECL) model; inaccuracies in the models and estimates on which the Company relies, including the amount of its Allowance for credit losses and our credit risk management models; increases in fraudulent activity; failure to identify, complete or successfully integrate or disaggregate business acquisitions, divestitures and other strategic initiatives, including, with respect to divested businesses, any associated guarantees, indemnities or other liabilities; the extent to which the Company’s results are dependent upon its brand partners, including its brand partners’ financial performance and reputation, as well as the effective promotion and support of the Company’s products by brand partners; increases in the cost of doing business, including market interest rates; the Company’s level of indebtedness and inability to access financial or capital markets, including asset-backed securitization funding or deposits markets; restrictions that limit the ability of Comenity Bank and Comenity Capital Bank (the “Banks”) to pay dividends to the Company; pending and future litigation; pending and future federal, state, local and foreign legislation, regulation, supervisory guidance and regulatory and legal actions including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; increases in regulatory capital requirements or other support for the Banks; impacts arising from or relating to the transition of the Company’s credit card processing services to third party service providers that it completed in 2022; failures or breaches in the Company’s operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects, failure of its information security controls or otherwise; loss of consumer information or other data due to compromised physical or cyber security, including disruptive attacks from financially motivated bad actors and third party supply chain issues; and any tax or other liability or adverse impacts arising out of or related to the spinoff of the Company’s former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. and certain of its subsidiaries and subsequent litigation or other disputes. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and the Company undertakes no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

    About Bread Financial
    Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.

    Contacts
    Brian Vereb – Investor Relations
    Brian.Vereb@BreadFinancial.com

    Susan Haugen – Investor Relations
    Susan.Haugen@BreadFinancial.com

    Rachel Stultz – Media
    Rachel.Stultz@BreadFinancial.com

    The MIL Network –

  • MIL-OSI: First Northwest Bancorp Reports Second Quarter 2025 Improved Profitability

    Source: GlobeNewswire (MIL-OSI)

    PORT ANGELES, Wash., July 24, 2025 (GLOBE NEWSWIRE) — First Northwest Bancorp (Nasdaq: FNWB) (“First Northwest” or the “Company”), the holding company for First Fed Bank (“First Fed” or the “Bank”), today reported net income of $3.7 million for the second quarter of 2025, compared to a net loss of $9.0 million for the first quarter of 2025 and a net loss of $2.2 million for the second quarter of 2024. Basic and diluted income per share were $0.42 for the second quarter of 2025, compared to basic and diluted loss per share of $1.03 for the first quarter of 2025 and basic and diluted loss per share of $0.25 for the second quarter of 2024. 

    In the second quarter of 2025, the Company recorded Adjusted Pre-Tax, Pre-Provision Net Revenue (“PPNR”)(1) of $2.1 million, compared to $1.5 million for the preceding quarter and $530,000 for the second quarter of 2024.

    The Board of Directors of First Northwest has elected not to declare a dividend for this quarter as part of a prudent approach to capital management. The Company remains committed to maintaining a strong balance sheet and will continue to evaluate future dividend decisions in light of the Company’s long-term strategic objectives.

    Quote from Cindy Finnie, First Northwest Board Chair:
    “As previously disclosed, the Board has begun a search process for the next full time Chief Executive Officer. We also continue to strongly dispute the allegations contained in the legal proceedings disclosed in our June 13, 2025, 8-K and intend to vigorously defend against them. Despite the volatility of the past few quarters, the Board remains focused on the strategic objectives of the Bank, building on the positive core trends from the past few quarters.”

    Quote from Geraldine Bullard, First Northwest Interim CEO:
    “Our second quarter included continued modest improvement in several important performance measures, including seven basis points of net interest margin expansion and our fifth consecutive quarter of growing Adjusted PPNR. Commercial business loan recoveries totaling $1.1 million drove a modest provision release during the quarter. The Bank continues to show core customer growth, with loans growing 3% annualized compared to the preceding quarter and total deposits only down modestly despite a $31.0 million reduction in brokered time deposits during the quarter.”

    Key Points for the Second Quarter

    Positive Trends:

    • Return on average assets increased to 0.68% for the current quarter from -1.69% in the preceding quarter.
    • Net interest margin increased to 2.83% for the current quarter compared to 2.76% in the first quarter of 2025, as a result of an increase in the yield on interest-earning assets and a decrease in the rate paid on interest-bearing liabilities.
    • Efficiency ratio improved to 78.0% for the current quarter from 113.5% in the preceding quarter due to the recognition of a payroll tax credit in the current quarter while the preceding quarter included higher expenses related to the legal reserve recorded.
    • Customer deposits increased $19.6 million to $1.55 billion at June 30, 2025 from $1.53 billion at March 31, 2025.
    • Recorded a $296,000 recapture of provision for credit losses on loans in the second quarter of 2025, compared to provisions for credit losses on loans of $7.8 million for the preceding quarter and $8.7 million for the second quarter of 2024.

    Other significant events:

    • In the second quarter of 2025, the statute of limitations expired on employee retention credit (“ERC”) payments received for the first and second quarters of 2021. As a result, the Bank recorded $2.6 million as a reduction to compensation and benefits. A related contingent ERC consulting expense of $528,000 was recorded in professional fees, partially offsetting the credit. The Bank anticipates recording the remaining reserved ERC of $2.0 million in 2028.
    • During the second quarter of 2025, the Bank consolidated the operations of its Bellevue and Fremont business centers into a new location, the Seattle business center. This consolidation resulted in a one-time increase to other expense of $599,000 for the early termination of the Bellevue business center lease and write-off of remaining leasehold improvements. No additional costs were incurred for closing the Fremont business center. The Bank estimates the consolidation will reduce annual rent expense by $130,000 going forward.
    • The Company disclosed in its Current Report on Form 8-K filed on July 21, 2025, that a settlement agreement was reached in the previously disclosed legal matter discussed in Part II, Item 1 of the Company’s Form 10-Q for the quarter ended March 31, 2025. The Bank continues to vigorously defend itself in the separate legal proceedings disclosed in the Company’s Current Report on Form 8-K filed on June 13, 2025.

    (1)  See reconciliation of Non-GAAP Financial Measures later in this release.

    Selected Quarterly Financial Ratios:

        As of or For the Quarter Ended     As of or For the Six Months
    Ended June 30,    		  
        June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     2025     2024  
    Performance ratios: (1)                                                        
    Return on average assets     0.68 %     -1.69 %     -0.51 %     -0.36 %     -0.40 %     -0.50 %     -0.17 %
    Adjusted PPNR return on average assets (2)     0.39       0.27       0.26       0.17       0.10       0.33       0.16  
    Return on average equity     10.00       -23.42       -6.92       -4.91       -5.47       -7.15       -2.26  
    Net interest margin (3)     2.83       2.76       2.73       2.70       2.76       2.80       2.76  
    Efficiency ratio (4)     78.0       113.5       92.2       100.3       72.3       96.40       79.35  
    Equity to total assets     6.82       6.75       6.89       7.13       7.17       6.82       7.17  
    Book value per common share   $ 15.85     $ 15.52     $ 16.45     $ 17.17     $ 16.81     $ 15.85     $ 16.81  
    Tangible performance ratios: (1)                                                        
    Tangible common equity to tangible assets (2)     6.76 %     6.68 %     6.83 %     7.06 %     7.10 %     6.76 %     7.10 %
    Return on average tangible common equity (2)     10.10       -23.65       -6.99       -4.96       -5.53       -7.22       -2.28  
    Tangible book value per common share (2)   $ 15.70     $ 15.36     $ 16.29     $ 17.00     $ 16.64     $ 15.70     $ 16.64  
    Capital ratios (First Fed): (5)                                                        
    Tier 1 leverage     9.2 %     9.0 %     9.4 %     9.4 %     9.4 %     9.2 %     9.4 %
    Common equity Tier 1     12.1       12.1       12.4       12.2       12.4       12.1       12.4  
    Total risk-based     13.1       13.4       13.6       13.4       13.5       13.1       13.5  
    (1 ) Performance ratios are annualized, where appropriate.
    (2 ) See reconciliation of Non-GAAP Financial Measures later in this release.
    (3 ) Net interest income divided by average interest-earning assets.
    (4 ) Total noninterest expense as a percentage of net interest income and total other noninterest income.
    (5 ) Current period capital ratios are preliminary and subject to finalization of the FDIC Call Report.
         

    Adjusted Pre-tax, Pre-Provision Net Revenue (1)

    Adjusted PPNR for the second quarter of 2025 increased $616,000 to $2.1 million, compared to $1.5 million for the preceding quarter, and increased $1.6 million from $530,000 in the second quarter one year ago.

        For the Quarter Ended     For the Six Months Ended  
    (Dollars in thousands)   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
    Net interest income (GAAP)   $ 14,193     $ 13,847     $ 14,137     $ 14,020     $ 14,235     $ 28,040     $ 28,163  
    Total noninterest income (GAAP)     2,170       3,777       1,300       1,779       7,347       5,947       9,535  
    Total revenue (GAAP)     16,363       17,624       15,437       15,799       21,582       33,987       37,698  
    Total noninterest expense (GAAP)     12,765       20,000       14,233       15,848       15,609       32,765       29,912  
    PPNR (Non-GAAP) (1)     3,598       (2,376 )     1,204       (49 )     5,973       1,222       7,786  
    Less selected nonrecurring adjustments to PPNR (Non-GAAP):                                                        
    Employee retention credit (“ERC”) included in compensation and benefits     2,640       —       —       —       —       2,640       —  
    ERC consulting expense included in professional fees     (528 )     —       —       —       —       (528 )     —  
    Costs associated with early termination of Bellevue Business Center lease included in other expense     (599 )     —       —       —       —       (599 )     —  
    Bank-owned life insurance (“BOLI”) death benefit     —       1,059       1,536       —       —       1,059       —  
    Gain on extinguishment of subordinated debt included in other income     —       846       —       —       —       846       —  
    Legal reserve     —       (5,750 )     —       —       —       (5,750 )     —  
    Equity investment repricing adjustment     —       —       (1,762 )     —       —       —       651  
    One-time compensation payouts related to reduction in force     —       —       —       (996 )     —       —       —  
    Net gain on sale of premises and equipment     —       —       —       —       7,919       —       7,919  
    Sale leaseback taxes and assessments included in occupancy and equipment     —       —       —       —       (359 )     —       (359 )
    Net loss on sale of investment securities     —       —       —       —       (2,117 )     —       (2,117 )
    Adjusted PPNR (Non-GAAP) (1)   $ 2,085     $ 1,469     $ 1,430     $ 947     $ 530     $ 3,554     $ 1,692  

    (1)  See reconciliation of Non-GAAP Financial Measures later in this release.

    • Total interest income increased $308,000 to $27.1 million for the second quarter of 2025, compared to $26.8 million for the preceding quarter, and decreased $1.5 million compared to $28.6 million in the second quarter of 2024. Interest income increased in the second quarter of 2025 primarily due to an increase in the yields earned on loans receivable, partially offset by a decrease in both the yield earned and average volume of investment securities. Average real estate and commercial business loan balances decreased while average consumer loan balances increased over the preceding quarter.
    • Total interest expense decreased $38,000 to $12.9 million for the second quarter of 2025, compared to $13.0 million for the preceding quarter, and decreased $1.4 million compared to $14.4 million in the second quarter of 2024. Interest expense decreased in the second quarter of 2025 primarily due to a reduced volume of brokered certificates of deposit (“CDs”) and decreases in interest paid on customer CDs, brokered CDs and demand deposits. These decreases were partially offset by increases in the volume and interest paid on money market and savings accounts and an increase in the rate paid on advances during the current quarter.
    • The net interest margin increased to 2.83% for the second quarter of 2025, from 2.76% for both the preceding quarter and the second quarter of 2024.
    • Noninterest income decreased $1.6 million to $2.2 million for the second quarter of 2025, from $3.8 million for the preceding quarter. The first quarter of 2025 was higher due to nonrecurring income items including a $1.1 million BOLI death benefit payment received due to the passing of a former employee and a $846,000 gain on extinguishment of debt.
    • Noninterest expense decreased $7.2 million to $12.8 million for the second quarter of 2025, compared to $20.0 million for the preceding quarter. Compensation and benefits was lower primarily due to the ERC recorded during the current quarter. Other expense for the preceding quarter included the previously disclosed $5.8 million legal reserve.

    Allowance for Credit Losses on Loans (“ACLL”) and Credit Quality

    The allowance for credit losses on loans (“ACLL”) decreased $2.2 million to $18.4 million at June 30, 2025, from $20.6 million at March 31, 2025. The ACLL as a percentage of total loans was 1.10% at June 30, 2025, a decrease from 1.24% at March 31, 2025, and from 1.14% one year earlier. A release of $2.6 million reserves on individually evaluated loans, partially offset by net loan charge-offs totaling $1.9 million and a small increase to the pooled loan reserve, resulted in a recapture of provision expense of $296,000 for the quarter ended June 30, 2025.

    Nonperforming loans totaled $20.4 million at both June 30, 2025 and March 31, 2025. Current quarter activity included an increase due to a $4.1 million commercial real estate loan transitioning into nonperforming status, large principal payments received totaling $3.6 million and charged-off balances totaling $1.3 million. ACLL to nonperforming loans decreased to 90% at June 30, 2025, from 101% at March 31, 2025, and increased from 82% at June 30, 2024. This ratio increased in the first quarter of 2025 with decreases in balances due to principal payments and charge-offs on loans with appropriate reserves.

    Classified loans decreased $663,000 to $30.9 million at June 30, 2025, from $31.6 million at March 31, 2025, primarily due to payments received of $3.2 million and commercial business loan net charge-offs totaling $1.5 million, partially offset by the downgrade of a $4.1 million commercial real estate loan that was adversely impacted by reduced cross-border traffic during the second quarter. Four collateral dependent loans totaling $23.8 million account for 77% of the classified loan balance at June 30, 2025. The Bank has exercised legal remedies, including the appointment of a third-party receiver and foreclosure actions, to liquidate the underlying collateral to satisfy the real estate loans in the largest of these four collateral-dependent relationships. The Bank is also closely monitoring a group of commercial business loans that have similar collateral, with 11 loans totaling $562,000 included in classified loans at June 30, 2025, and four additional loans totaling $686,000 included in the special mention risk grading category.

        For the Quarter Ended  
    ACLL ($ in thousands)   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		  
                                             
    Balance at beginning of period   $ 20,569     $ 20,449     $ 21,970     $ 19,343     $ 17,958  
    Charge-offs:                                        
    Commercial real estate     (15 )     (5,571 )     —       —       —  
    Construction and land     —       (374 )     (411 )     —       (3,978 )
    Auto and other consumer     (273 )     (243 )     (364 )     (492 )     (832 )
    Commercial business     (2,823 )     (1,513 )     (4,596 )     (24 )     (2,643 )
    Total charge-offs     (3,111 )     (7,701 )     (5,371 )     (516 )     (7,453 )
    Recoveries:                                        
    One-to-four family     —       —       —       42       —  
    Commercial real estate     20       6       2       —       —  
    Construction and land     5       —       —       —       —  
    Auto and other consumer     74       43       52       24       198  
    Commercial business     1,084       2       36       —       —  
    Total recoveries     1,183       51       90       66       198  
    Net loan charge-offs     (1,928 )     (7,650 )     (5,281 )     (450 )     (7,255 )
    (Recapture of) provision for credit losses     (296 )     7,770       3,760       3,077       8,640  
    Balance at end of period   $ 18,345     $ 20,569     $ 20,449     $ 21,970     $ 19,343  
                                             
    Average total loans   $ 1,658,723     $ 1,662,164     $ 1,708,232     $ 1,718,402     $ 1,717,830  
    Annualized net charge-offs to average outstanding loans     0.47 %     1.87 %     1.23 %     0.10 %     1.70 %
    Asset Quality ($ in thousands)   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		  
    Nonaccrual loans:                                        
    One-to-four family   $ 2,274     $ 1,404     $ 1,477     $ 1,631     $ 1,750  
    Multi-family     —       —       —       —       708  
    Commercial real estate     4,095       4       5,598       5,634       14  
    Construction and land     13,063       15,280       19,544       19,382       19,292  
    Home equity     10       54       55       116       118  
    Auto and other consumer     410       710       700       894       746  
    Commercial business     514       2,903       3,141       2,719       1,003  
    Total nonaccrual loans     20,366       20,355       30,515       30,376       23,631  
    Other real estate owned     1,297       —       —       —       —  
    Total nonperforming assets   $ 21,663     $ 20,355     $ 30,515     $ 30,376     $ 23,631  
                                             
    Nonaccrual loans as a % of total loans (1)     1.22 %     1.23 %     1.80 %     1.75 %     1.39 %
    Nonperforming assets as a % of total assets (2)     0.99       0.94       1.37       1.35       1.07  
    ACLL as a % of total loans     1.10       1.24       1.21       1.27       1.14  
    ACLL as a % of nonaccrual loans     90.08       101.05       67.01       72.33       81.85  
    Total past due loans to total loans     1.17       1.36       1.98       1.92       1.45  
    (1 ) Nonperforming loans consists of nonaccruing loans and accruing loans more than 90 days past due.
    (2 ) Nonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), real estate owned and repossessed assets.
         

    Financial Condition and Capital

    Investment securities decreased $11.9 million, or 3.8%, to $303.5 million at June 30, 2025, compared to $315.4 million three months earlier, and decreased $3.2 million compared to $306.7 million at June 30, 2024. Maturities totaling $11.8 million and regular principal payments totaling $5.7 million were partially offset by purchases totaling $5.5 million during the current quarter. Net unrealized losses were flat for the second quarter of 2025. The estimated average life of the securities portfolio was approximately 7.6 years at June 30, 2025, 6.9 years at the preceding quarter end and 7.8 years at the end of the second quarter of 2024. The effective duration of the portfolio was approximately 4.9 years at June 30, 2025, compared to 4.3 years at the preceding quarter end and 4.3 years at the end of the second quarter of 2024.

    Investment Securities ($ in thousands)     June 30,
    2025    		       March 31,
    2025    		       June 30,
    2024    		       Three Month
    % Change    		       One Year %
    Change    		  
    Available for Sale at Fair Value                                        
    Municipal bonds   $ 77,324     $ 78,295     $ 78,825       -1.2 %     -1.9 %
    U.S. government agency issued asset-backed securities (ABS agency)     12,298       12,643       13,982       -2.7       -12.0  
    Corporate issued asset-backed securities (ABS corporate)     13,105       15,671       16,483       -16.4       -20.5  
    Corporate issued debt securities (Corporate debt)     55,760       55,067       52,892       1.3       5.4  
    U.S. Small Business Administration securities (SBA)     7,504       8,061       9,772       -6.9       -23.2  
    Mortgage-backed securities:                                        
    U.S. government agency issued mortgage-backed securities (MBS agency)     96,014       96,642       77,301       -0.6       24.2  
    Non-agency issued mortgage-backed securities (MBS non-agency)     41,510       49,054       57,459       -15.4       -27.8  
    Total securities available for sale   $ 303,515     $ 315,433     $ 306,714       -3.8       -1.0  

    Net loans, excluding loans held for sale, increased $9.6 million, or 0.6%, to $1.65 billion at June 30, 2025, from $1.64 billion at March 31, 2025, and decreased $30.6 million, or 1.8%, from $1.68 billion one year prior. Construction loans that converted into fully amortizing loans during the quarter totaled $6.0 million. New loan funding totaling $47.2 million and draws on existing loans totaling $23.9 million outpaced loan payoffs of $34.1 million, regular payments of $28.4 million and charge-offs totaling $2.4 million.

    Loans ($ in thousands)     June 30,
    2025    		       March 31,
    2025    		       June 30,
    2024    		       Three Month
    % Change    		       One Year %
    Change    		  
    Real Estate:                                        
    One-to-four family   $ 387,459     $ 394,428     $ 389,934       -1.8 %     -0.6 %
    Multi-family     329,696       338,147       350,076       -2.5       -5.8  
    Commercial real estate     391,362       387,312       375,511       1.0       4.2  
    Construction and land     72,538       64,877       107,273       11.8       -32.4  
    Total real estate loans     1,181,055       1,184,764       1,222,794       -0.3       -3.4  
    Consumer:                                        
    Home equity     84,927       79,151       72,613       7.3       17.0  
    Auto and other consumer     280,877       273,878       285,623       2.6       -1.7  
    Total consumer loans     365,804       353,029       358,236       3.6       2.1  
    Commercial business     117,843       119,783       117,094       -1.6       0.6  
    Total loans receivable     1,664,702       1,657,576       1,698,124       0.4       -2.0  
    Less:                                        
    Derivative basis adjustment     (860 )     (566 )     1,017       -51.9       -184.6  
    Allowance for credit losses on loans     18,345       20,569       19,343       -10.8       -5.2  
    Total loans receivable, net   $ 1,647,217     $ 1,637,573     $ 1,677,764       0.6       -1.8  

    The Bank invested $9.1 million into a new bank-owned life insurance policy in the second quarter of 2025 to replace a policy surrendered in the preceding quarter. The Bank received the return of the surrendered funds early in the third quarter of 2025.

    Total deposits decreased $11.4 million to $1.65 billion at June 30, 2025, compared to $1.67 billion at March 31, 2025, and decreased $53.7 million compared to $1.71 billion one year prior. During the second quarter of 2025, total customer deposit balances increased $19.6 million and brokered deposit balances decreased $31.0 million. Overall, the current rate environment continues to contribute to competition for deposits leading to increased volumes and higher rates paid on money market and savings accounts during the current quarter. The deposit mix compared to June 30, 2024, also reflects a shift in volume to money market and customer CD accounts while the volume and rate paid on brokered CDs decreased.

    Deposits ($ in thousands)     June 30,
    2025    		       March 31,
    2025    		       June 30,
    2024    		       Three Month
    % Change    		       One Year %
    Change    		  
    Noninterest-bearing demand deposits   $ 240,051     $ 247,890     $ 276,543       -3.2 %     -13.2 %
    Interest-bearing demand deposits     144,409       169,912       162,201       -15.0       -11.0  
    Money market accounts     484,787       424,469       423,047       14.2       14.6  
    Savings accounts     227,968       235,188       224,631       -3.1       1.5  
    Certificates of deposit, customer     450,494       450,663       398,161       0.0       13.1  
    Certificates of deposit, brokered     106,927       137,946       223,705       -22.5       -52.2  
    Total deposits   $ 1,654,636     $ 1,666,068     $ 1,708,288       -0.7       -3.1  

    Total shareholders’ equity increased to $149.7 million at June 30, 2025, compared to $146.5 million three months earlier, due to net income of $3.7 million and an increase in the after-tax fair market values of the available-for-sale investment securities portfolio of $128,000, partially offset by dividends declared of $661,000 and a decrease in the after-tax fair market values of derivatives of $197,000.

    Capital levels for both the Company and the Bank remain in excess of applicable regulatory requirements and the Bank was categorized as “well-capitalized” at June 30, 2025. Preliminary calculations of Common Equity Tier 1 and Total Risk-Based Capital Ratios at June 30, 2025, were 12.1% and 13.1%, respectively.

    First Northwest continued to provide a return on capital to our shareholders through cash dividends during the second quarter of 2025. The Company paid cash dividends totaling $650,000 in the second quarter of 2025. No shares of common stock were repurchased under the Company’s April 2024 Stock Repurchase Plan (the “Repurchase Plan”) during the quarter ended June 30, 2025. There are 846,123 shares that remain available for repurchase under the Repurchase Plan.

    2025 Awards/Recognition
    Forbes Best-in-State Banks
                     


    About the Company
    First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 17 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. The Company is headquartered in Port Angeles, Washington.

    Forward-Looking Statements
    Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance and execution on certain strategies, perceived opportunities in the market, potential future credit experience, including our ability to collect, the outcome of litigation and statements regarding our mission and vision, and include, but are not limited to, statements about our plans, objectives, expectations and intentions that are not historical facts, and other statements often identified by words such as “believes,” “expects,” “anticipates,” “estimates,” or similar expressions. These forward-looking statements are based upon current management beliefs and expectations and may, therefore, involve risks and uncertainties, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; pressures on liquidity, including as a result of withdrawals of deposits or declines in the value of our investment portfolio; changes in general economic conditions and conditions within the securities markets, including potential recessionary and other unfavorable conditions and trends relating to housing markets, costs of living, unemployment levels, interest rates, supply chain difficulties and inflationary pressures, among other things; legislative, regulatory, and policy changes; legal proceedings regulatory investigations and their resolutions; and other factors described in the Company’s latest Annual Report on Form 10-K under the section entitled “Risk Factors,” and other filings with the Securities and Exchange Commission (“SEC”),which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

    Any of the forward-looking statements that we make in this press release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company’s operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for 2025 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.

    For More Information Contact:
    Geraldine Bullard, Interim Chief Executive Officer, Chief Operating Officer and EVP
    Phyllis Nomura, Chief Financial Officer and EVP
    IRGroup@ourfirstfed.com
    360-457-0461

       
    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands, except share data) (Unaudited)    		  
       
        June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		  
    ASSETS                                        
    Cash and due from banks   $ 18,487     $ 18,911     $ 16,811     $ 17,953     $ 19,184  
    Interest-earning deposits in banks     69,376       51,412       55,637       64,769       63,995  
    Investment securities available for sale, at fair value (amortized cost at each period end of $336,206, $348,249, $376,265, $341,011 and $344,941)     303,515       315,433       340,344       310,860       306,714  
    Loans held for sale     1,557       2,940       472       378       1,086  
    Loans receivable (net of allowance for credit losses on loans at each period end of $18,345, $20,569, $20,449, $21,970, and $19,343)     1,647,217       1,637,573       1,675,186       1,714,416       1,677,764  
    Federal Home Loan Bank (FHLB) stock, at cost     14,906       13,106       14,435       14,435       13,086  
    Accrued interest receivable     8,305       8,319       8,159       8,939       9,466  
    Premises and equipment, net     8,999       9,870       10,129       10,436       10,714  
    Servicing rights on sold loans, at fair value     3,220       3,301       3,281       3,584       3,740  
    Bank-owned life insurance (“BOLI”), net     41,380       31,786       41,150       41,429       41,113  
    Equity and partnership investments     14,811       15,026       13,229       14,912       15,085  
    Goodwill and other intangible assets, net     1,081       1,082       1,082       1,083       1,084  
    Deferred tax asset, net     14,266       14,304       13,738       10,802       12,216  
    Right-of-use (“ROU”) asset, net     15,772       16,687       17,001       17,315       17,627  
    Prepaid expenses and other assets     32,471       31,680       21,352       24,175       23,088  
    Total assets   $ 2,195,363     $ 2,171,430     $ 2,232,006     $ 2,255,486     $ 2,215,962  
                                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY                                        
    Deposits   $ 1,654,636     $ 1,666,068     $ 1,688,026     $ 1,711,641     $ 1,708,288  
    Borrowings     344,108       307,091       336,014       334,994       302,575  
    Accrued interest payable     1,514       2,163       3,295       2,153       3,143  
    Lease liability, net     16,257       17,266       17,535       17,799       18,054  
    Accrued expenses and other liabilities     27,790       29,767       31,770       25,625       23,717  
    Advances from borrowers for taxes and insurance     1,325       2,583       1,484       2,485       1,304  
    Total liabilities     2,045,630       2,024,938       2,078,124       2,094,697       2,057,081  
                                             
    Shareholders’ Equity                                        
    Preferred stock, $0.01 par value, authorized 5,000,000 shares, no shares issued or outstanding     —       —       —       —       —  
    Common stock, $0.01 par value, 75,000,000 shares authorized; issued and outstanding at each period end: 9,444,963; 9,440,618; 9,353,348; 9,365,979; and 9,453,247     94       94       93       94       94  
    Additional paid-in capital     93,595       93,450       93,357       93,218       93,985  
    Retained earnings     90,506       87,506       97,198       100,660       103,322  
    Accumulated other comprehensive loss, net of tax     (28,198 )     (28,129 )     (30,172 )     (26,424 )     (31,597 )
    Unearned employee stock ownership plan (ESOP) shares     (6,264 )     (6,429 )     (6,594 )     (6,759 )     (6,923 )
    Total shareholders’ equity     149,733       146,492       153,882       160,789       158,881  
    Total liabilities and shareholders’ equity   $ 2,195,363     $ 2,171,430     $ 2,232,006     $ 2,255,486     $ 2,215,962  
       
    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Dollars in thousands, except per share data) (Unaudited)    		  
       
        For the Quarter Ended     For the Six Months Ended  
        June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
    INTEREST INCOME                                                        
    Interest and fees on loans receivable   $ 22,814     $ 22,231     $ 23,716     $ 23,536     $ 23,733     $ 45,045     $ 46,500  
    Interest on investment securities     3,466       3,803       3,658       3,786       3,949       7,269       7,581  
    Interest on deposits in banks     520       482       550       582       571       1,002       1,216  
    FHLB dividends     331       307       273       302       358       638       640  
    Total interest income     27,131       26,823       28,197       28,206       28,611       53,954       55,937  
    INTEREST EXPENSE                                                        
    Deposits     9,552       9,737       11,175       10,960       10,180       19,289       20,292  
    Borrowings     3,386       3,239       2,885       3,226       4,196       6,625       7,482  
    Total interest expense     12,938       12,976       14,060       14,186       14,376       25,914       27,774  
    Net interest income     14,193       13,847       14,137       14,020       14,235       28,040       28,163  
    PROVISION FOR CREDIT LOSSES                                                        
    (Recapture of) provision for credit losses on loans     (296 )     7,770       3,760       3,077       8,640       7,474       9,879  
    (Recapture of) provision for credit losses on unfunded commitments     (64 )     15       (105 )     57       99       (49 )     (170 )
    (Recapture of) provision for credit losses     (360 )     7,785       3,655       3,134       8,739       7,425       9,709  
    Net interest income after (recapture of) provision for credit losses     14,553       6,062       10,482       10,886       5,496       20,615       18,454  
    NONINTEREST INCOME                                                        
    Loan and deposit service fees     1,095       1,106       1,054       1,059       1,076       2,201       2,178  
    Sold loan servicing fees and servicing rights mark-to-market     92       195       (115 )     10       74       287       293  
    Net gain on sale of loans     44       11       52       58       150       55       202  
    Net loss on sale of investment securities     —       —       —       —       (2,117 )     —       (2,117 )
    Net gain on sale of premises and equipment     —       —       —       —       7,919       —       7,919  
    Increase in BOLI cash surrender value     485       372       328       315       293       857       536  
    Income from BOLI death benefit, net     —       1,059       1,536       —       —       1,059       —  
    Other income (loss)     454       1,034       (1,555 )     337       (48 )     1,488       524  
    Total noninterest income     2,170       3,777       1,300       1,779       7,347       5,947       9,535  
    NONINTEREST EXPENSE                                                        
    Compensation and benefits     4,698       7,715       7,367       8,582       8,588       12,413       16,716  
    Data processing     1,926       2,011       2,065       2,085       2,008       3,937       3,952  
    Occupancy and equipment     1,507       1,592       1,559       1,553       1,799       3,099       3,039  
    Supplies, postage, and telephone     346       298       296       360       317       644       610  
    Regulatory assessments and state taxes     501       479       460       548       457       980       970  
    Advertising     299       265       362       409       377       564       686  
    Professional fees     1,449       777       813       698       684       2,226       1,594  
    FDIC insurance premium     463       434       491       533       473       897       859  
    Other expense     1,576       6,429       820       1,080       906       8,005       1,486  
    Total noninterest expense     12,765       20,000       14,233       15,848       15,609       32,765       29,912  
    Income (loss) before provision (benefit) for income taxes     3,958       (10,161 )     (2,451 )     (3,183 )     (2,766 )     (6,203 )     (1,923 )
    Provision (benefit) for income taxes     297       (1,125 )     359       (1,203 )     (547 )     (828 )     (100 )
    Net income (loss)   $ 3,661     $ (9,036 )   $ (2,810 )   $ (1,980 )   $ (2,219 )   $ (5,375 )   $ (1,823 )
                                                             
    Basic and diluted earnings (loss) per common share   $ 0.42     $ (1.03 )   $ (0.32 )   $ (0.23 )   $ (0.25 )   $ (0.61 )   $ (0.21 )
       
    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)    		  
       
    Selected Loan Detail   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		  
    Construction and land loans breakout                                        
    1-4 Family construction   $ 39,040     $ 42,371     $ 39,319     $ 43,125     $ 56,514  
    Multifamily construction     14,728       9,223       15,407       29,109       43,341  
    Nonresidential construction     12,832       7,229       16,857       17,500       1,015  
    Land and development     5,938       6,054       6,527       5,975       6,403  
    Total construction and land loans   $ 72,538     $ 64,877     $ 78,110     $ 95,709     $ 107,273  
                                             
    Auto and other consumer loans breakout                                        
    Triad Manufactured Home loans   $ 135,537     $ 134,740     $ 128,231     $ 129,600     $ 110,510  
    Woodside auto loans     127,828       118,972       117,968       126,129       131,151  
    First Help auto loans     11,221       13,012       14,283       15,971       17,427  
    Other auto loans     1,016       1,313       1,647       2,064       2,690  
    Other consumer loans     5,275       5,841       6,747       7,434       23,845  
    Total auto and other consumer loans   $ 280,877     $ 273,878     $ 268,876     $ 281,198     $ 285,623  
                                             
    Commercial business loans breakout                                        
    Northpointe Bank MPP   $ –     $ –     $ 36,230     $ 38,155     $ 9,150  
    Secured lines of credit     41,043       39,986       35,701       37,686       28,862  
    Unsecured lines of credit     2,551       2,030       1,717       1,571       1,133  
    SBA loans     6,618       6,889       7,044       7,219       7,146  
    Other commercial business loans     67,631       70,878       70,801       70,696       70,803  
    Total commercial business loans   $ 117,843     $ 119,783     $ 151,493     $ 155,327     $ 117,094  
    Loans by Collateral and Unfunded Commitments   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		  
                                             
    One-to-four family construction   $ 40,509     $ 38,221     $ 44,468     $ 51,607     $ 49,440  
    All other construction and land     36,129       30,947       34,290       45,166       58,346  
    One-to-four family first mortgage     420,847       428,081       466,046       469,053       434,840  
    One-to-four family junior liens     20,116       15,155       15,090       14,701       13,706  
    One-to-four family revolving open-end     57,502       51,832       51,481       48,459       44,803  
    Commercial real estate, owner occupied:                                        
    Health care     29,091       29,386       29,129       29,407       29,678  
    Office     19,116       19,363       17,756       17,901       19,215  
    Warehouse     7,432       9,272       14,948       11,645       14,613  
    Other     74,364       74,915       78,170       64,535       56,292  
    Commercial real estate, non-owner occupied:                                        
    Office     42,198       41,885       49,417       49,770       50,158  
    Retail     51,708       50,737       49,591       49,717       50,101  
    Hospitality     64,308       62,226       61,919       62,282       62,628  
    Other     93,505       93,549       81,640       82,573       84,428  
    Multi-family residential     330,784       339,217       333,419       354,118       350,382  
    Commercial business loans     73,403       75,628       77,381       86,904       79,055  
    Commercial agriculture and fishing loans     22,443       22,914       21,833       15,369       14,411  
    State and political subdivision obligations     369       369       369       404       405  
    Consumer automobile loans     139,992       133,209       133,789       144,036       151,121  
    Consumer loans secured by other assets     138,378       137,619       131,429       132,749       129,293  
    Consumer loans unsecured     2,508       3,051       3,658       4,411       5,209  
    Total loans   $ 1,664,702     $ 1,657,576     $ 1,695,823     $ 1,734,807     $ 1,698,124  
                                             
    Unfunded commitments under lines of credit or existing loans   $ 166,589     $ 175,100     $ 163,827     $ 166,446     $ 155,005  
       
    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    NET INTEREST MARGIN ANALYSIS
    (Dollars in thousands) (Unaudited)    		  
       
        Three Months Ended June 30,  
        2025     2024  
        Average     Interest             Average     Interest          
        Balance     Earned/     Yield/     Balance     Earned/     Yield/  
        Outstanding     Paid     Rate     Outstanding     Paid     Rate  
        (Dollars in thousands)  
    Interest-earning assets:                                                
    Loans receivable, net (1) (2)   $ 1,639,236     $ 22,814       5.58 %   $ 1,698,777     $ 23,733       5.62 %
    Total investment securities     311,078       3,466       4.47       316,878       3,949       5.01  
    FHLB dividends     13,313       331       9.97       15,175       358       9.49  
    Interest-earning deposits in banks     46,807       520       4.46       41,450       571       5.54  
    Total interest-earning assets (3)     2,010,434       27,131       5.41       2,072,280       28,611       5.55  
    Noninterest-earning assets     154,145                       147,090                  
    Total average assets   $ 2,164,579                     $ 2,219,370                  
    Interest-bearing liabilities:                                                
    Interest-bearing demand deposits   $ 164,475     $ 240       0.59     $ 165,212     $ 193       0.47  
    Money market accounts     444,135       2,660       2.40       405,393       2,420       2.40  
    Savings accounts     228,901       884       1.55       227,650       915       1.62  
    Certificates of deposit, customer     451,712       4,396       3.90       400,197       4,079       4.10  
    Certificates of deposit, brokered     124,383       1,372       4.42       209,566       2,573       4.94  
    Total interest-bearing deposits (4)     1,413,606       9,552       2.71       1,408,018       10,180       2.91  
    Advances     275,176       3,041       4.43       315,375       3,801       4.85  
    Subordinated debt     34,600       345       4.00       39,465       395       4.03  
    Total interest-bearing liabilities     1,723,382       12,938       3.01       1,762,858       14,376       3.28  
    Noninterest-bearing deposits (4)     243,655                       251,442                  
    Other noninterest-bearing liabilities     50,685                       41,991                  
    Total average liabilities     2,017,722                       2,056,291                  
    Average equity     146,857                       163,079                  
    Total average liabilities and equity   $ 2,164,579                     $ 2,219,370                  
                                                     
    Net interest income           $ 14,193                     $ 14,235          
    Net interest rate spread                     2.40                       2.27  
    Net earning assets   $ 287,052                     $ 309,422                  
    Net interest margin (5)                     2.83                       2.76  
    Average interest-earning assets to average interest-bearing liabilities     116.7 %                     117.6 %                
    (1) The average loans receivable, net balances include nonaccrual loans.
    (2) Interest earned on loans receivable includes net deferred (costs) fees of ($148,000) and $34,000 for the three months ended June 30, 2025 and 2024, respectively.
    (3) Includes interest-earning deposits (cash) at other financial institutions.
    (4) Cost of all deposits, including noninterest-bearing demand deposits, was 2.31% and 2.47% for the three months ended June 30, 2025 and 2024, respectively.
    (5) Net interest income divided by average interest-earning assets.
       

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)

    Non-GAAP Financial Measures
    This press release contains financial measures that are not in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Non-GAAP measures are presented where management believes the information will help investors understand the Company’s results of operations or financial position and assess trends. Where non-GAAP financial measures are used, the comparable GAAP financial measure is also provided. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP performance measures that may be presented by other companies. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons. Reconciliations of the GAAP and non-GAAP measures are presented below.

    Calculations Based on PPNR and Adjusted PPNR:

        For the Quarter Ended     For the Six Months Ended  
    (Dollars in thousands)   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
                                                             
    Net income (loss) (GAAP)   $ 3,661     $ (9,036 )   $ (2,810 )   $ (1,980 )   $ (2,219 )   $ (5,375 )   $ (1,823 )
    Plus: (recapture of) provision for credit losses (GAAP)     (360 )     7,785       3,655       3,134       8,739       7,425       9,709  
    Provision (benefit) for income taxes (GAAP)     297       (1,125 )     359       (1,203 )     (547 )     (828 )     (100 )
    PPNR (Non-GAAP) (1)     3,598       (2,376 )     1,204       (49 )     5,973       1,222       7,786  
    Less selected nonrecurring adjustments to PPNR (Non-GAAP):                                                        
    Employee retention credit (“ERC”) included in compensation and benefits     2,640       —       —       —       —       2,640       —  
    ERC consulting expense included in professional fees     (528 )     —       —       —       —       (528 )     —  
    Costs associated with early termination of Bellevue Business Center lease included in other expense     (599 )     —       —       —       —       (599 )     —  
    Bank-owned life insurance (“BOLI”) death benefit     —       1,059       1,536       —       —       1,059       —  
    Gain on extinguishment of subordinated debt included in other income     —       846       —       —       —       846       —  
    Legal reserve     —       (5,750 )     —       —       —       (5,750 )     —  
    Equity investment repricing adjustment     —       —       (1,762 )     —       —       —       651  
    One-time compensation payouts related to reduction in force     —       —       —       (996 )     —       —       —  
    Net gain on sale of premises and equipment     —       —       —       —       7,919       —       7,919  
    Sale leaseback taxes and assessments included in occupancy and equipment     —       —       —       —       (359 )     —       (359 )
    Net loss on sale of investment securities     —       —       —       —       (2,117 )     —       (2,117 )
    Adjusted PPNR (Non-GAAP) (1)   $ 2,085     $ 1,469     $ 1,430     $ 947     $ 530     $ 3,554     $ 1,692  
                                                             
    Average total assets (GAAP)   $ 2,164,579     $ 2,174,748     $ 2,205,502     $ 2,209,333     $ 2,219,370     $ 2,169,621     $ 2,192,779  
    GAAP Ratio:                                                        
    Return on average assets (GAAP)     0.68 %     -1.69 %     -0.51 %     -0.36 %     -0.40 %     -0.50 %     -0.17 %
    Non-GAAP Ratios:                                                        
    PPNR return on average assets (Non-GAAP) (1)     0.67 %     -0.44 %     0.22 %     -0.01 %     1.08 %     0.11 %     0.71 %
    Adjusted PPNR return on average assets (Non-GAAP) (1)     0.39 %     0.27 %     0.26 %     0.17 %     0.10 %     0.33 %     0.16 %
    (1) PPNR removes the provisions for credit loss and income tax from net income. This removes potentially volatile estimates, providing a comparative amount limited to income and expense recorded during the period. Adjusted PPNR further removes large nonrecurring transactions recorded during the period. We believe these metrics provide comparative amounts for a better review of recurring net revenue.
       
    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)    		  
       
    Calculations Based on Tangible Common Equity:  
            
        For the Quarter Ended     For the Six Months Ended  
    (Dollars in thousands, except per share data)   June 30,
    2025    		     March 31,
    2025    		     December 31,
    2024    		     September 30,
    2024    		     June 30,
    2024    		     June 30,
    2025    		     June 30,
    2024    		  
                                                             
    Total shareholders’ equity   $ 149,733     $ 146,492     $ 153,882     $ 160,789     $ 158,881     $ 149,733     $ 158,881  
    Less: Goodwill and other intangible assets     1,081       1,082       1,082       1,083       1,084       1,081       1,084  
    Disallowed non-mortgage loan servicing rights     372       415       423       489       517       372       517  
    Total tangible common equity   $ 148,280     $ 144,995     $ 152,377     $ 159,217     $ 157,280     $ 148,280     $ 157,280  
                                                             
    Total assets   $ 2,195,363     $ 2,171,430     $ 2,232,006     $ 2,255,486     $ 2,215,962     $ 2,195,363     $ 2,215,962  
    Less: Goodwill and other intangible assets     1,081       1,082       1,082       1,083       1,084       1,081       1,084  
    Disallowed non-mortgage loan servicing rights     372       415       423       489       517       372       517  
    Total tangible assets   $ 2,193,910     $ 2,169,933     $ 2,230,501     $ 2,253,914     $ 2,214,361     $ 2,193,910     $ 2,214,361  
                                                             
    Average shareholders’ equity   $ 146,857     $ 156,470     $ 161,560     $ 160,479     $ 163,079     $ 151,620     $ 162,473  
    Less: Average goodwill and other intangible assets     1,081       1,082       1,083       1,084       1,085       1,082       1,085  
    Average disallowed non-mortgage loan servicing rights     415       423       489       517       489       419       485  
    Total average tangible common equity   $ 145,361     $ 154,965     $ 159,988     $ 158,878     $ 161,505     $ 150,119     $ 160,903  
                                                             
    Net income (loss)   $ 3,661     $ (9,036 )   $ (2,810 )   $ (1,980 )   $ (2,219 )   $ (5,375 )   $ (1,823 )
    Common shares outstanding     9,444,963       9,440,618       9,353,348       9,365,979       9,453,247       9,444,963       9,453,247  
    GAAP Ratios:                                                        
    Equity to total assets     6.82 %     6.75 %     6.89 %     7.13 %     7.17 %     6.82 %     7.17 %
    Return on average equity     10.00 %     -23.42 %     -6.92 %     -4.91 %     -5.47 %     -7.15 %     -2.26 %
    Book value per common share   $ 15.85     $ 15.52     $ 16.45     $ 17.17     $ 16.81     $ 15.85     $ 16.81  
    Non-GAAP Ratios:                                                        
    Tangible common equity to tangible assets (1)     6.76 %     6.68 %     6.83 %     7.06 %     7.10 %     6.76 %     7.10 %
    Return on average tangible common equity (1)     10.10 %     -23.65 %     -6.99 %     -4.96 %     -5.53 %     -7.22 %     -2.28 %
    Tangible book value per common share (1)   $ 15.70     $ 15.36     $ 16.29     $ 17.00     $ 16.64     $ 15.70     $ 16.64  
    (1 ) We believe that the use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles.
         

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c85e4dc5-66aa-4a20-9353-c1b9da5ac869

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e8d326aa-0fde-4c3c-954f-bb809e7c276c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f24035e8-5a6e-4f39-a0db-93ca11dc39d5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c29167d1-36df-44c1-9e51-889b5be4fb96

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ae6ceb7f-9f7a-4a77-b835-146a0638be30

    https://www.globenewswire.com/NewsRoom/AttachmentNg/5ba4f507-769e-4e54-acdb-4aed9253c967

    https://www.globenewswire.com/NewsRoom/AttachmentNg/66e51144-1d2d-4c3f-ae91-2192cc90a887

    The MIL Network –

  • MIL-OSI: Donegal Group Inc. Announces Second Quarter and First Half 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    MARIETTA, Pa., July 24, 2025 (GLOBE NEWSWIRE) — Donegal Group Inc. (NASDAQ: DGICA) and (NASDAQ: DGICB) today reported its financial results for the second quarter and first half of 2025.

    Significant Items for Second Quarter of 2025 (all comparisons to second quarter of 2024):

    • Net premiums earned decreased 1.1% to $231.8 million
    • Combined ratio of 97.7%, compared to 103.0%
    • Net income of $16.9 million, or 46 cents per diluted Class A share, compared to $4.2 million, or 13 cents per diluted Class A share
    • Net investment gains (after tax) of $1.2 million, or 3 cents per diluted Class A share, compared to $0.6 million, or 2 cents per diluted Class A share, are included in net income
    • Annualized return on average equity of 11.3%, compared to 3.4%
    • Book value per share of $16.62 at June 30, 2025, compared to $14.48 at June 30, 2024

    Financial Summary

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands, except per share amounts)
                           
    Income Statement Data                      
    Net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
    Investment income, net   12,540       11,068       13.3       24,524       22,041       11.3  
    Net investment gains   1,544       737       109.5       1,073       2,850       -62.4  
    Total revenues   247,148       246,773       0.2       491,953       487,913       0.8  
    Net income   16,866       4,153       306.1       42,071       10,108       316.2  
    Non-GAAP operating income1   15,647       3,571       338.2       41,224       7,857       424.7  
    Annualized return on average equity   11.3 %     3.4 %   7.9 pts     14.6 %     4.2 %   10.4 pts
                           
    Per Share Data                      
    Net income – Class A (diluted) $ 0.46     $ 0.13       253.8 %   $ 1.17     $ 0.31       277.4 %
    Net income – Class B   0.43       0.11       290.9       1.08       0.28       285.7  
    Non-GAAP operating income – Class A (diluted)   0.43       0.11       290.9       1.14       0.24       375.0  
    Non-GAAP operating income – Class B   0.40       0.10       300.0       1.06       0.22       381.8  
    Book value   16.62       14.48       14.8       16.62       14.48       14.8  
                           
                           

    1The “Definitions of Non-GAAP Financial Measures” section of this release defines and reconciles data that we prepare on an accounting basis other than U.S. generally accepted accounting principles (“GAAP”).

    Management Commentary

    Kevin G. Burke, President and Chief Executive Officer of Donegal Group Inc., stated, “We are pleased with the progress we have made and the results we delivered for both the second quarter and first half of 2025, which we believe reflect the strength of our strategic execution and underwriting discipline. A meaningful improvement in our core loss ratio for both periods underscores our commitment to disciplined risk management and sustainable profitability. As expected, net premiums written1 declined this quarter, as lower new business writings and planned attrition modestly outpaced ongoing premium rate increases and solid retention levels. As a proactive measure, we intentionally slowed new business writings in our personal lines of business to protect underwriting margins and ensure we remain focused on profitable growth opportunities. We continue to identify and pursue profitable new business opportunities in states and classes that match our objectives.

    “We reached a significant milestone in our multi-year systems modernization project with the successful deployment of our final major commercial lines systems release. During the second half of 2025, we will begin to roll out this enhanced platform on a state-by-state basis, enabling us to more effectively target and win key middle market accounts. When the rollout is completed in the first half of 2026, we will be operating on a single modern technology platform for all of our middle market and small business commercial product offerings.

    “As we look ahead, we remain focused on disciplined execution, organizational alignment and operational excellence to further strengthen our long-term competitive position and enhance value for our stockholders.”

    Insurance Operations

    Donegal Group is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in three Mid-Atlantic states (Delaware, Maryland and Pennsylvania), five Southern states (Georgia, North Carolina, South Carolina, Tennessee and Virginia), eight Midwestern states (Illinois, Indiana, Iowa, Michigan, Nebraska, Ohio, South Dakota and Wisconsin) and five Southwestern states (Arizona, Colorado, New Mexico, Texas and Utah). Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group conduct business together as the Donegal Insurance Group.

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands)
                           
    Net Premiums Earned                      
    Commercial lines $ 138,527     $ 134,489       3.0 %   $ 274,743     $ 266,581       3.1 %
    Personal lines   93,248       99,822       -6.6       189,733       195,479       -2.9  
    Total net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
                           
    Net Premiums Written                      
    Commercial lines:                      
    Automobile $ 50,584     $ 47,089       7.4 %   $ 107,109     $ 100,603       6.5 %
    Workers’ compensation   24,243       27,591       -12.1       52,997       58,665       -9.7  
    Commercial multi-peril   56,478       55,870       1.1       117,268       113,373       3.4  
    Other   13,609       11,698       16.3       28,158       25,101       12.2  
    Total commercial lines   144,914       142,248       1.9       305,532       297,742       2.6  
    Personal lines:                      
    Automobile   52,741       62,427       -15.5       107,933       123,808       -12.8  
    Homeowners   33,590       39,608       -15.2       62,378       71,367       -12.6  
    Other   2,568       2,906       -11.6       5,062       5,714       -11.4  
    Total personal lines   88,899       104,941       -15.3       175,373       200,889       -12.7  
    Total net premiums written $ 233,813     $ 247,189       -5.4 %   $ 480,905     $ 498,631       -3.6 %
                           
                           

    Net Premiums Written

    The 5.4% decrease in net premiums written for the second quarter of 2025 compared to the second quarter of 2024, as shown in the table above, represents the net combination of a 1.9% increase in commercial lines net premiums written and a 15.3% decrease in personal lines net premiums written. The $13.3 million decrease in net premiums written for the second quarter of 2025 compared to the second quarter of 2024 included:

    • Commercial Lines: $2.7 million increase that we attribute primarily to solid retention and a continuation of renewal premium increases in lines other than workers’ compensation, offset partially by lower new business writings.
    • Personal Lines: $16.0 million decrease that we attribute primarily to planned attrition due to lower new business writings and non-renewal actions, offset partially by a continuation of renewal premium rate increases and solid retention.

    Underwriting Performance

    We evaluate the performance of our commercial lines and personal lines segments primarily based upon the underwriting results of our insurance subsidiaries as determined under statutory accounting practices. The following table presents comparative details with respect to the GAAP and statutory combined ratios1 for the three and six months ended June 30, 2025 and 2024:

      Three Months Ended   Six Months Ended
      June 30   June 30
        2025       2024       2025       2024  
                   
    GAAP Combined Ratios (Total Lines)              
    Loss ratio – core losses   50.1 %     55.0 %     52.1 %     56.8 %
    Loss ratio – weather-related losses   11.1       10.6       7.4       7.7  
    Loss ratio – large fire losses   5.2       5.3       4.3       5.9  
    Loss ratio – net prior-year reserve development   -1.3       -0.3       -2.9       -2.0  
    Loss ratio   65.1       70.6       60.9       68.4  
    Expense ratio   32.2       31.9       33.4       33.8  
    Dividend ratio   0.4       0.5       0.3       0.5  
    Combined ratio   97.7 %     103.0 %     94.6 %     102.7 %
                   
    Statutory Combined Ratios              
    Commercial lines:              
    Automobile   97.7 %     93.5 %     94.6 %     96.6 %
    Workers’ compensation   104.9       117.0       111.3       114.2  
    Commercial multi-peril   97.5       110.6       93.9       106.7  
    Other   119.8       94.3       100.6       88.3  
    Total commercial lines   101.0       104.9       97.8       103.3  
    Personal lines:              
    Automobile   79.3       95.6       82.2       97.7  
    Homeowners   115.1       103.1       99.0       102.7  
    Other   55.2       104.7       55.9       94.8  
    Total personal lines   91.7       98.6       87.5       99.4  
    Total lines   97.4 %     102.2 %     93.9 %     101.7 %
                   
                   

    Loss Ratio

    For the second quarter of 2025, the loss ratio decreased to 65.1%, compared to 70.6% for the second quarter of 2024. For the commercial lines segment, the core loss ratio, which excludes weather-related losses, large fire losses and net development of reserves for losses incurred in prior accident years, of 54.5% for the second quarter of 2025 decreased modestly from 54.8% for the second quarter of 2024. For the personal lines segment, the core loss ratio of 43.3% for the second quarter of 2025 decreased from 55.3% for the second quarter of 2024, due largely to the favorable impact of premium rate increases on net premiums earned for that segment.

    Weather-related losses were $25.8 million, or 11.1 percentage points of the loss ratio, for the second quarter of 2025, compared to $24.7 million, or 10.6 percentage points of the loss ratio, for the second quarter of 2024. Weather-related loss activity for the second quarter of 2025 was higher than our previous five-year average of $18.9 million, or 9.2 percentage points of the loss ratio, for second-quarter weather-related losses. Atlantic States Insurance Company, our largest insurance subsidiary, incurred $3.0 million in net losses from a catastrophic wind and hail loss event in April 2025, with Donegal Mutual assuming losses that subsidiary incurred from the event in excess of its retention under an intercompany catastrophe reinsurance agreement.

    Large fire losses, which we define as individual fire losses in excess of $50,000, for the second quarter of 2025 were $12.1 million, or 5.2 percentage points of the loss ratio. That amount was comparable to the large fire losses of $12.5 million, or 5.3 percentage points of the loss ratio, for the second quarter of 2024. We experienced a modest decrease in commercial property fire losses that was partially offset by a modest increase in homeowners fire losses compared to the prior-year quarter.

    Net favorable development of reserves for losses incurred in prior accident years reduced the loss ratio by 1.3 percentage points for the second quarter of 2025 and had virtually no impact for the second quarter of 2024. Our insurance subsidiaries experienced favorable development primarily in the personal automobile and homeowners lines of business, partially offset by adverse development in other commercial lines that we primarily attribute to higher-than-anticipated case reserve development.

    Expense Ratio

    The expense ratio was 32.2% for the second quarter of 2025, compared to 31.9% for the second quarter of 2024. The increase in the expense ratio primarily reflected higher underwriting-based incentive costs for agents and employees, partially offset by the favorable impact of ongoing expense management initiatives. The impact from costs that Donegal Mutual Insurance Company allocated to our insurance subsidiaries related to its ongoing systems modernization project peaked at approximately 1.3 percentage points of the full year 2024 expense ratio, and we expect that impact to subside gradually over the next several years. Allocated costs related to that project represented approximately 1.0 percentage point of the expense ratio for the second quarter of 2025, and we expect the full year 2025 expense ratio impact will also be approximately 1.0 percentage point.

    Investment Operations

    Donegal Group’s investment strategy is to generate an appropriate amount of after-tax income on its invested assets while minimizing credit risk through investment in high-quality securities. As a result, we had invested 95.4% of our consolidated investment portfolio in diversified, highly rated and marketable fixed-maturity securities at June 30, 2025.

      June 30, 2025   December 31, 2024
      Amount   %   Amount   %
      (dollars in thousands)
    Fixed maturities, at carrying value:              
    U.S. Treasury securities and obligations of U.S.            
    government corporations and agencies $ 145,585       10.2 %   $ 170,423       12.3 %
    Obligations of states and political subdivisions   424,010       29.7       409,560       29.6  
    Corporate securities   441,603       30.9       440,552       31.8  
    Mortgage-backed securities   353,639       24.7       304,459       22.0  
    Allowance for expected credit losses   (1,374 )     -0.1       (1,388 )     -0.1  
    Total fixed maturities   1,363,463       95.4       1,323,606       95.6  
    Equity securities, at fair value   41,007       2.9       36,808       2.6  
    Short-term investments, at cost   24,764       1.7       24,558       1.8  
    Total investments $ 1,429,234       100.0 %   $ 1,384,972   100.0 %
                   
    Average investment yield   3.5 %         3.3 %    
    Average tax-equivalent investment yield   3.6 %         3.4 %    
    Average fixed-maturity duration (years)   5.2           5.2      
                   
                   

    Net investment income of $12.5 million for the second quarter of 2025 increased 13.3% compared to $11.1 million for the second quarter of 2024. The increase in net investment income primarily reflected an increase in average investment yield relative to the prior-year second quarter.

    Net investment gains of $1.5 million for the second quarter of 2025 were primarily related to unrealized gains in the fair value of equity securities held at June 30, 2025, offset partially by net realized investment losses on the sale of available-for-sale fixed-maturity securities. Net investment gains of $0.7 million for the second quarter of 2024 were primarily related to unrealized gains in the fair value of equity securities held at June 30, 2024.

    Our book value per share was $16.62 at June 30, 2025, compared to $15.36 at December 31, 2024, with the increase related to net income as well as $10.7 million of after-tax unrealized gains within our available-for-sale fixed-maturity portfolio during 2025 that increased our book value by $0.31 per share, offset partially by cash dividends declared.

    Definitions of Non-GAAP Financial Measures

    We prepare our consolidated financial statements on the basis of GAAP. Our insurance subsidiaries also prepare financial statements based on statutory accounting principles state insurance regulators prescribe or permit (“SAP”). In addition to using GAAP-based performance measurements, we also utilize certain non-GAAP financial measures that we believe provide value in managing our business and for comparison to the financial results of our peers. These non-GAAP measures are net premiums written, operating income or loss and statutory combined ratio.

    Net premiums written and operating income or loss are non-GAAP financial measures investors in insurance companies commonly use. We define net premiums written as the amount of full-term premiums our insurance subsidiaries record for policies effective within a given period less premiums our insurance subsidiaries cede to reinsurers. We define operating income or loss as net income or loss excluding after-tax net investment gains or losses, after-tax restructuring charges and other significant non-recurring items. Because our calculation of operating income or loss may differ from similar measures other companies use, investors should exercise caution when comparing our measure of operating income or loss to the measure of other companies.

    The following table provides a reconciliation of net premiums earned to net premiums written for the periods indicated:

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands)
                           
    Reconciliation of Net Premiums                      
    Earned to Net Premiums Written                      
    Net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
    Change in net unearned premiums   2,038       12,878       -84.2       16,429       36,571       -55.1  
    Net premiums written $ 233,813     $ 247,189       -5.4 %   $ 480,905     $ 498,631       -3.6 %
                           
                           

    The following table provides a reconciliation of net income to operating income for the periods indicated:

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands, except per share amounts)
                           
    Reconciliation of Net Income                      
    to Non-GAAP Operating Income                      
    Net income $ 16,866     $ 4,153       306.1 %   $ 42,071     $ 10,108       316.2 %
    Investment gains (after tax)   (1,219 )     (582 )     109.5       (847 )     (2,251 )     -62.4  
    Non-GAAP operating income $ 15,647     $ 3,571       338.2 %   $ 41,224     $ 7,857       424.7 %
                           
    Per Share Reconciliation of Net Income                      
    to Non-GAAP Operating Income                      
    Net income – Class A (diluted) $ 0.46     $ 0.13       253.8 %   $ 1.17     $ 0.31       277.4 %
    Investment gains (after tax)   (0.03 )     (0.02 )     50.0       (0.03 )     (0.07 )     -57.1  
    Non-GAAP operating income – Class A $ 0.43     $ 0.11       290.9 %   $ 1.14     $ 0.24       375.0 %
                           
    Net income – Class B $ 0.43     $ 0.11       290.9 %   $ 1.08     $ 0.28       285.7 %
    Investment gains (after tax)   (0.03 )     (0.01 )     200.0       (0.02 )     (0.06 )     -66.7  
    Non-GAAP operating income – Class B $ 0.40     $ 0.10       300.0 %   $ 1.06     $ 0.22       381.8 %
                           
                           

    The statutory combined ratio is a non-GAAP standard measurement of underwriting profitability that is based upon amounts determined under SAP. The statutory combined ratio is the sum of:

    • the statutory loss ratio, which is the ratio of calendar-year incurred losses and loss expenses, excluding anticipated salvage and subrogation recoveries, to premiums earned;
    • the statutory expense ratio, which is the ratio of expenses incurred for net commissions, premium taxes and underwriting expenses to premiums written; and
      • the statutory dividend ratio, which is the ratio of dividends to holders of workers’ compensation policies to premiums earned.

    The statutory combined ratio does not reflect investment income, federal income taxes or other non-operating income or expense. A statutory combined ratio of less than 100% generally indicates underwriting profitability.

    Dividend Information

    On July 17, 2025, we declared a regular quarterly cash dividend of $0.1825 per share for our Class A common stock and $0.165 per share for our Class B common stock, which are payable on August 15, 2025 to stockholders of record as of the close of business on August 1, 2025.

    Pre-Recorded Webcast

    At approximately 8:30 am ET on Thursday, July 24, 2025, we will make available in the Investors section of our website a pre-recorded audio webcast featuring management commentary on our quarterly results and general business updates. You may listen to the pre-recorded webcast by accessing the link on our website at http://investors.donegalgroup.com. A supplemental investor presentation is also available via our website.

    About the Company

    Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in certain Mid-Atlantic, Midwestern, Southern and Southwestern states. Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc. conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).

    The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. We are focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing our operations and processes to transform our business, capitalizing on opportunities to grow profitably and providing superior experiences to our agents, policyholders and employees.

    Safe Harbor

    We base all statements contained in this release that are not historic facts on our current expectations. Such statements are forward-looking in nature (as defined in the Private Securities Litigation Reform Act of 1995) and necessarily involve risks and uncertainties. Forward-looking statements we make may be identified by our use of words such as “will,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “seek,” “estimate” and similar expressions. Our actual results could vary materially from our forward-looking statements. The factors that could cause our actual results to vary materially from the forward-looking statements we have previously made include, but are not limited to, adverse litigation and other trends that could increase our loss costs (including social inflation, labor shortages and escalating medical, automobile and property repair costs, including due to tariffs), adverse and catastrophic weather events (including from changing climate conditions), our ability to maintain profitable operations (including our ability to underwrite risks effectively and charge adequate premium rates), the adequacy of the loss and loss expense reserves of our insurance subsidiaries, the availability and successful operation of the information technology systems our insurance subsidiaries utilize, the successful development of new information technology systems to allow our insurance subsidiaries to compete effectively, business and economic conditions in the areas in which we and our insurance subsidiaries operate, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, legal and judicial developments, changes in regulatory requirements, our ability to attract and retain independent insurance agents, changes in our A.M. Best rating and the other risks that we describe from time to time in our filings with the Securities and Exchange Commission. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    Investor Relations Contacts

    Karin Daly, Vice President, The Equity Group Inc.

    Phone: (212) 836-9623
    E-mail: kdaly@theequitygroup.com

    Jeffrey D. Miller, Executive Vice President & Chief Financial Officer
    Phone: (717) 426-1931
    E-mail: investors@donegalgroup.com

    Financial Supplement

    Donegal Group Inc.
    Consolidated Statements of Income
    (unaudited; in thousands, except share data)
           
      Quarter Ended June 30,
        2025       2024  
           
    Net premiums earned $ 231,775     $ 234,311  
    Investment income, net of expenses   12,540       11,068  
    Net investment gains   1,544       737  
    Lease income   76       78  
    Installment payment fees   844       579  
    Other income, net   369       –  
    Total revenues   247,148       246,773  
           
    Net losses and loss expenses   150,917       165,360  
    Amortization of deferred acquisition costs   39,501       40,656  
    Other underwriting expenses   35,150       34,037  
    Policyholder dividends   819       1,187  
    Interest   337       155  
    Other expenses, net   –       365  
    Total expenses   226,724       241,760  
           
    Income before income tax expense   20,424       5,013  
    Income tax expense   3,558       860  
           
    Net income $ 16,866     $ 4,153  
           
    Net income per common share:      
    Class A – basic $ 0.47     $ 0.13  
    Class A – diluted $ 0.46     $ 0.13  
    Class B – basic and diluted $ 0.43     $ 0.11  
           
    Supplementary Financial Analysts’ Data      
           
    Weighted-average number of shares      
    outstanding:      
    Class A – basic   30,678,158       27,844,811  
    Class A – diluted   31,336,862       27,844,903  
    Class B – basic and diluted   5,576,775       5,576,775  
           
    Net premiums written $ 233,813     $ 247,189  
           
    Book value per common share      
    at end of period $ 16.62     $ 14.48  
           
    Annualized operating return on average equity   11.3 %     3.4 %
    Donegal Group Inc.
    Consolidated Statements of Income
    (unaudited; in thousands, except share data)
           
      Six Months Ended June 30,
        2025       2024  
           
    Net premiums earned $ 464,476     $ 462,060  
    Investment income, net of expenses   24,524       22,041  
    Net investment gains   1,073       2,850  
    Lease income   153       159  
    Installment payment fees   1,727       803  
    Total revenues   491,953       487,913  
           
    Net losses and loss expenses   282,950       316,257  
    Amortization of deferred acquisition costs   78,732       80,258  
    Other underwriting expenses   76,345       75,777  
    Policyholder dividends   1,578       2,241  
    Interest   670       309  
    Other expenses, net   93       810  
    Total expenses   440,368       475,652  
           
    Income before income tax expense   51,585       12,261  
    Income tax expense   9,514       2,153  
           
    Net income $ 42,071     $ 10,108  
           
    Net income per common share:      
    Class A – basic $ 1.19     $ 0.31  
    Class A – diluted $ 1.17     $ 0.31  
    Class B – basic and diluted $ 1.08     $ 0.28  
           
    Supplementary Financial Analysts’ Data      
           
    Weighted-average number of shares      
    outstanding:      
    Class A – basic   30,400,944       27,828,062  
    Class A – diluted   30,884,992       27,845,608  
    Class B – basic and diluted   5,576,775       5,576,775  
           
    Net premiums written $ 480,905     $ 498,631  
           
    Book value per common share      
    at end of period $ 16.62     $ 14.48  
           
    Annualized operating return on average equity   14.6 %     4.2 %
    Donegal Group Inc.
    Consolidated Balance Sheets
    (in thousands)
           
      June 30,   December 31,
        2025       2024  
      (unaudited)    
           
    ASSETS
    Investments:      
    Fixed maturities:      
    Held to maturity, at amortized cost $ 737,356     $ 705,714  
    Available for sale, at fair value   626,107       617,892  
    Equity securities, at fair value   41,007       36,808  
    Short-term investments, at cost   24,764       24,558  
    Total investments   1,429,234       1,384,972  
        57,437       52,926  
    Premiums receivable   198,885       181,107  
    Reinsurance receivable   411,125       420,742  
    Deferred policy acquisition costs   76,620       73,347  
    Prepaid reinsurance premiums   182,795       176,162  
    Other assets   51,739       46,776  
    Total assets $ 2,407,835     $ 2,336,032  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY
    Liabilities:      
    Losses and loss expenses $ 1,117,010     $ 1,120,985  
    Unearned premiums   635,538       612,476  
    Borrowings under lines of credit   35,000       35,000  
    Other liabilities   14,618       21,795  
    Total liabilities   1,802,166       1,790,256  
    Stockholders’ equity:      
    Class A common stock   339       329  
    Class B common stock   56       56  
    Additional paid-in capital   383,546       369,680  
    Accumulated other comprehensive loss   (17,517 )     (28,200 )
    Retained earnings   280,471       245,137  
    Treasury stock   (41,226 )     (41,226 )
    Total stockholders’ equity   605,669       545,776  
    Total liabilities and stockholders’ equity $ 2,407,835     $ 2,336,032  

    The MIL Network –

  • MIL-OSI USA: NASA Launches Mission to Study Earth’s Magnetic Shield

    Source: NASA

    NASA’s newest mission, TRACERS, soon will begin studying how Earth’s magnetic shield protects our planet from the effects of space weather. Short for Tandem Reconnection and Cusp Electrodynamics Reconnaissance Satellites, the twin TRACERS spacecraft lifted off at 11:13 a.m. PDT (2:13 p.m. EDT) Wednesday aboard a SpaceX Falcon 9 rocket from Space Launch Complex 4 East at Vandenberg Space Force Base in California.
    “NASA is proud to launch TRACERS to demonstrate and expand American preeminence in space science research and technology,” said acting NASA Administrator Sean Duffy. “The TRACERS satellites will move us forward in decoding space weather and further our understanding of the connection between Earth and the Sun. This mission will yield breakthroughs that will advance our pursuit of the Moon, and subsequently, Mars.”
    The twin satellites will fly one behind the other – following as closely as 10 seconds apart over the same location – and will take a record-breaking 3,000 measurements in one year to build a step-by-step picture of how magnetic reconnection changes over time.
    Riding along with TRACERS aboard the Falcon 9 were NASA’s Athena EPIC (Economical Payload Integration Cost), PExT (Polylingual Experimental Terminal), and REAL (Relativistic Electron Atmospheric Loss) missions – three small satellites to demonstrate new technologies and gather scientific data. These three missions were successfully deployed, and mission controllers will work to contact them over the coming hours and days.
    Ground controllers for the TRACERS mission established communications with the second of the two spacecraft at 3:43 p.m. PDT (6:43 p.m. EDT), about 3 hours after it separated from the rocket. During the next four weeks, TRACERS will undergo a commissioning period during which mission controllers will check out their instruments and systems.
    Once cleared, the twin satellites will begin their 12-month prime mission to study a process called magnetic reconnection, answering key questions about how it shapes the impacts of the Sun and space weather on our daily lives.
    “NASA’s heliophysics fleet helps to safeguard humanity’s home in space and understand the influence of our closest star, the Sun,” said Joe Westlake, heliophysics division director at NASA Headquarters in Washington. “By adding TRACERS to that fleet, we will gain a better understanding of those impacts right here at Earth.”
    The two TRACERS spacecraft will orbit through an open region in Earth’s magnetic field near the North Pole, called the polar cusp. Here, TRACERS will investigate explosive magnetic events that happen when the Sun’s magnetic field – carried through space in a stream of solar material called the solar wind – collides with Earth’s magnetic field. This collision creates a buildup of energy that causes magnetic reconnection, when magnetic field lines snap and explosively realign, flinging away nearby particles at high speeds.
    Flying through the polar cusp allows the TRACERS satellites to study the results of these magnetic explosions, measuring charged particles that race down into Earth’s atmosphere and collide with atmospheric gases – giving scientist the tools to reconstruct exactly how changes in the incoming solar wind affect how, and how quickly, energy and particles are coupled into near-Earth space.
    “The successful launch of TRACERS is a tribute to many years of work by an excellent team,” said David Miles, TRACERS principal investigator at the University of Iowa. “TRACERS is set to transform our understanding of Earth’s magnetosphere. We’re excited to explore the dynamic processes driving space weather.”
    Small Satellites Along for Ride
    Athena EPIC is a pathfinder mission that will demonstrate NASA’s use of an innovative and configurable commercial SmallSat architecture to improve flexibility of payload designs, reduce launch schedule, and reduce overall costs in future missions, as well as the benefits of working collaboratively with federal partners. In addition to this demonstration for NASA, once the Athena EPIC satellite completes its two-week commissioning period, the mission will spend the next 12 months taking measurements of outgoing longwave radiation from Earth.
    The PExT demonstration will test interoperability between commercial and government communication networks for the first time by demonstrating a wideband polylingual terminal in low Earth orbit. This terminal will use software-defined radios to jump between government and commercial networks, similar to cell phones roaming between providers on Earth. These terminals could allow future missions to switch seamlessly between networks and access new commercial services throughout its lifecycle in space.
    The REAL mission is a CubeSat that will investigate how energetic electrons are scattered out of the Van Allen radiation belts and into Earth’s atmosphere. Shaped like concentric rings high above Earth’s equator, the Van Allen belts are composed of a mix of high-energy electrons and protons that are trapped in place by Earth’s magnetic field. Studying electrons and their interactions, REAL aims to improve our understanding of these energetic particles that can damage spacecraft and imperil astronauts who pass through them. 
    The TRACERS mission is led by David Miles at the University of Iowa with support from the Southwest Research Institute in San Antonio, Texas. NASA’s Heliophysics Explorers Program Office at the agency’s Goddard Space Flight Center in Greenbelt, Maryland, manages the mission for the Heliophysics Division at NASA Headquarters in Washington. The University of Iowa, Southwest Research Institute, University of California, Los Angeles, and the University of California, Berkeley, all lead instruments on TRACERS.
    The Athena EPIC mission is led by NASA’s Langley Research Center in Hampton, Virginia, and is a partnership between National Oceanic and Atmospheric Administration, U.S. Space Force, and NovaWurks. Athena EPIC’s launch is supported by launch integrator SEOPS. The PExT demonstration is managed by NASA’s SCaN (Space Communications and Navigation) program in partnership with Johns Hopkins Applied Physics Laboratory, with launch support by York Space Systems. The REAL project is led by Dartmouth College in Hanover, New Hampshire, and is a partnership between Johns Hopkins Applied Physics Laboratory, Montana State University, and Boston University. Sponsored by NASA’s Heliophysics Division and CubeSat Launch Initiative, it was included through launch integrator Maverick Space Systems.
    NASA’s Launch Services Program, based at the agency’s Kennedy Space Center in Florida, manages the VADR (Venture-class Acquisition of Dedicated and Rideshare) contract.
    To learn more about TRACERS, visit:
    https://nasa.gov/tracers
    -end-
    Abbey Interrante / Karen FoxHeadquarters, Washington301-201-0124 / 202-358-1600abbey.a.interrante@nasa.gov / karen.c.fox@nasa.gov
    Sarah FrazierGoddard Space Flight Center, Greenbelt, Maryland202-853-7191sarah.frazier@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: President Donald J. Trump Approves Major Disaster Declaration for Michigan

    Source: US Federal Emergency Management Agency

    Headline: President Donald J

    Trump Approves Major Disaster Declaration for Michigan

    President Donald J

    Trump Approves Major Disaster Declaration for Michigan

    WASHINGTON – FEMA announced that federal disaster assistance is available to the state of Michigan to supplement recovery efforts in the areas affected by the severe winter storm from March 28-30, 2025

    Public Assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair and replacement of eligible facilities damaged by the severe winter storm in Alcona, Alpena, Antrim, Charlevoix, Cheboygan, Crawford, Emmet, Kalkaska, Mackinac, Montmorency, Oscoda, Otsego and Presque Isle counties and the Little Traverse Bay Bands of Odawa Indians

    Darrin Ricketts has been named as the Federal Coordinating Officer for federal recovery operations in the affected area

    Additional designations may be made at a later date if requested by the state and warranted by the results of further damage assessments

     
    amy

    ashbridge
    Wed, 07/23/2025 – 19:59

    MIL OSI USA News –

  • MIL-OSI USA: President Donald J. Trump Approves Major Disaster Declaration for Indiana

    Source: US Federal Emergency Management Agency

    Headline: President Donald J

    Trump Approves Major Disaster Declaration for Indiana

    President Donald J

    Trump Approves Major Disaster Declaration for Indiana

    WASHINGTON — FEMA announced that federal disaster assistance is available to the state of Indiana to supplement recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes and flooding from March 30 – April 9, 2025

    Public Assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair and replacement of facilities damaged by the severe storms, straight-line winds, tornadoes and flooding in Bartholomew, Brown, Clark, Crawford, Decatur, Floyd, Franklin, Greene, Harrison, Jefferson, Lawrence, Madison, Marshall, Martin, Montgomery, Morgan, Orange, Owen, Perry, Switzerland, Vanderburgh, Warrick and Washington counties

    Joseph P

    Cirone has been named as the Federal Coordinating Officer for federal recovery operations in the affected area

    Additional designations may be made at a later date if requested by the state and warranted by the results of further damage assessments

     
    erika

    suzuki
    Wed, 07/23/2025 – 20:01

    MIL OSI USA News –