Artificial Intelligence – Page 22

MIL-OSI: First Merchants Corporation Announces Second Quarter 2025 Earnings Per Share

Source: GlobeNewswire (MIL-OSI)

MUNCIE, Ind., July 23, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (NASDAQ – FRME)

Second Quarter 2025 Highlights:

Net income available to common stockholders was $56.4 million and diluted earnings per common share totaled $0.98 in the second quarter of 2025, compared to $39.5 million and $0.68 in the second quarter of 2024, and $54.9 million and $0.94 in the first quarter of 2025.
Robust capital position with Common Equity Tier 1 Capital Ratio of 11.35%.
Repurchased 818,480 shares totaling $31.7 million year-to-date; Repurchased 582,486 shares totaling $22.1 million during the second quarter.
Total loans grew $297.6 million, or 9.1% annualized, on a linked quarter basis, and $653.6 million, or 5.2%, during the last twelve months.
Total deposits increased $335.6 million, or 9.3% annualized, on a linked quarter basis.
Nonperforming assets to total assets were 36 basis points compared to 47 basis points on a linked quarter basis.
The efficiency ratio totaled 53.99% for the quarter.

“Our strong balance sheet and earnings growth in the first half of the year underscore the strength and resilience of our business model,” said Mark Hardwick, Chief Executive Officer of First Merchants Bank. “With continued momentum in loan and deposit growth, expanding margins, disciplined expense management, and a robust capital position, we are well-positioned to deliver long-term value for our shareholders. We remain committed to supporting our clients and communities while navigating a dynamic economic environment with confidence and clarity.”

Second Quarter Financial Results:

First Merchants Corporation (the “Corporation) reported second quarter 2025 net income available to common stockholders of $56.4 million compared to $39.5 million during the same period in 2024. Diluted earnings per common share for the period totaled $0.98 per share compared to the second quarter of 2024 result of $0.68 per share.

Total assets equaled $18.6 billion as of quarter-end and loans totaled $13.3 billion. During the past twelve months, total loans grew by $653.6 million, or 5.2%. On a linked quarter basis, loans grew $297.6 million, or 9.1% with growth primarily in Commercial & Industrial loans.

Investments, totaling $3.4 billion, decreased $372.1 million, or 9.9%, during the last twelve months and decreased $46.2 million, or 5.4% annualized, on a linked quarter basis. The decline in the last twelve months reflected sales of available for sale securities in 2024 totaling $268.5 million.

Total deposits equaled $14.8 billion as of quarter-end and increased by $228.5 million, or 1.6%, over the past twelve months. Total deposits increased $335.6 million, or 9.3% annualized, on a linked quarter basis. The loan to deposit ratio of 90.1% at period end remained stable on a linked quarter basis.

The Corporation’s Allowance for Credit Losses – Loans (ACL) totaled $195.3 million as of quarter-end, or 1.47% of total loans. Net charge-offs totaled $2.3 million and provision for credit losses of $5.6 million was recorded during the quarter. Reserves for unfunded commitments totaling $18.0 million remain unchanged from the previous quarter. Non-performing assets to total assets were 0.36% for the second quarter of 2025, a decrease of 11 basis points compared to 0.47% in the linked quarter.

Net interest income, totaling $133.0 million for the quarter, increased $2.7 million, or 2.1%, compared to prior quarter and increased $4.4 million, or 3.5% compared to the second quarter of 2024. Fully taxable equivalent net interest margin was 3.25%, an increase of three basis points compared to the first quarter of 2025 and an increase of nine basis points compared to the second quarter of 2024. During the quarter, higher yields on earnings assets outpaced increased yields on interest bearing liabilities resulting in margin expansion.

Noninterest income totaled $31.3 million for the quarter, an increase of $1.3 million, compared to the first quarter of 2025 and was stable compared to the second quarter of 2024. The increase over first quarter of 2025 was driven primarily by higher gains on the sales of loans, treasury management fees, derivative hedge fees, and card payment fees offset by a decrease in other income associated with CRA investments.

Noninterest expense totaled $93.6 million for the quarter, an increase of $0.7 million from the first quarter of 2025. The increase was from higher marketing and data processing costs.

The Corporation’s total risk-based capital ratio equaled 13.06%, the common equity tier 1 capital ratio equaled 11.35%, and the tangible common equity ratio totaled 8.92%. These ratios continue to reflect the Corporation’s strong liquidity and capital positions.

CONFERENCE CALL

First Merchants Corporation will conduct a second quarter earnings conference call and web cast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

To view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.

Detailed financial results are reported on the attached pages.

About First Merchants Corporation

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

Forward-Looking Statements

This release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can often, but not always, be identified by the use of words like “believe”, “continue”, “pattern”, “estimate”, “project”, “intend”, “anticipate”, “expect” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “might”, “can”, “may”, or similar expressions. These statements include statements about First Merchants’ goals, intentions and expectations; statements regarding the First Merchants’ business plan and growth strategies; statements regarding the asset quality of First Merchants’ loan and investment portfolios; and estimates of First Merchants’ risks and future costs and benefits. These forward-looking statements are subject to significant risks, assumptions and uncertainties that may cause results to differ materially from those set forth in forward-looking statements, including, among other things: possible changes in monetary and fiscal policies, and laws and regulations; the effects of easing restrictions on participants in the financial services industry; the cost and other effects of legal and administrative cases; possible changes in the credit worthiness of customers and the possible impairment of collectability of loans; fluctuations in market rates of interest; competitive factors in the banking industry; changes in the banking legislation or regulatory requirements of federal and state agencies applicable to bank holding companies and banks like First Merchants’ affiliate bank; continued availability of earnings and excess capital sufficient for the lawful and prudent declaration of dividends; changes in market, economic, operational, liquidity (including the ability to grow and maintain core deposits and retain large, uninsured deposits), credit and interest rate risks associated with the First Merchants’ business; and other risks and factors identified in each of First Merchants’ filings with the Securities and Exchange Commission. First Merchants does not undertake any obligation to update any forward-looking statements, whether written or oral, relating to the matters discussed in this press release. In addition, First Merchants’ past results of operations do not necessarily indicate its anticipated future results.


CONSOLIDATED BALANCE SHEETS
(Dollars In Thousands)	June 30,
		2025			2024
ASSETS
Cash and due from banks	$	81,567		$	105,372
Interest-bearing deposits		223,343			168,528
Investment securities available for sale		1,358,130			1,618,893
Investment securities held to maturity, net of allowance for credit losses		2,022,826			2,134,195
Loans held for sale		28,783			32,292
Loans		13,296,759			12,639,650
Less: Allowance for credit losses – loans		(195,316	)		(189,537	)
Net loans		13,101,443			12,450,113
Premises and equipment		122,808			133,245
Federal Home Loan Bank stock		47,290			41,738
Interest receivable		93,258			97,546
Goodwill		712,002			712,002
Other intangibles		16,797			23,371
Cash surrender value of life insurance		305,695			306,379
Other real estate owned		177			4,824
Tax asset, deferred and receivable		97,749			107,080
Other assets		380,909			367,845
TOTAL ASSETS	$	18,592,777		$	18,303,423
LIABILITIES
Deposits:
Noninterest-bearing	$	2,197,416		$	2,303,313
Interest-bearing		12,600,162			12,265,757
Total Deposits		14,797,578			14,569,070
Borrowings:
Federal funds purchased		85,000			147,229
Securities sold under repurchase agreements		114,758			100,451
Federal Home Loan Bank advances		898,702			832,703
Subordinated debentures and other borrowings		62,617			93,589
Total Borrowings		1,161,077			1,173,972
Interest payable		16,174			18,554
Other liabilities		269,996			329,302
Total Liabilities		16,244,825			16,090,898
STOCKHOLDERS’ EQUITY
Preferred Stock, $1,000 par value, $1,000 liquidation value:
Authorized — 600 cumulative shares
Issued and outstanding – 125 cumulative shares		125			125
Preferred Stock, Series A, no par value, $2,500 liquidation preference:
Authorized — 10,000 non-cumulative perpetual shares
Issued and outstanding – 10,000 non-cumulative perpetual shares		25,000			25,000
Common Stock, $.125 stated value:
Authorized — 100,000,000 shares
Issued and outstanding – 57,272,433 and 58,045,653 shares		7,159			7,256
Additional paid-in capital		1,163,170			1,191,193
Retained earnings		1,342,473			1,200,930
Accumulated other comprehensive loss		(189,975	)		(211,979	)
Total Stockholders’ Equity		2,347,952			2,212,525
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	18,592,777		$	18,303,423

CONSOLIDATED STATEMENTS OF INCOME	Three Months Ended						Six Months Ended
(Dollars In Thousands, Except Per Share Amounts)	June 30,						June 30,
		2025			2024			2025			2024
INTEREST INCOME
Loans:
Taxable	$	195,173		$	201,413		$	382,901		$	399,436
Tax-exempt		10,805			8,430			21,337			16,620
Investment securities:
Taxable		8,266			9,051			16,638			17,799
Tax-exempt		12,516			13,613			25,033			27,224
Deposits with financial institutions		1,892			2,995			4,264			9,488
Federal Home Loan Bank stock		1,083			879			2,080			1,714
Total Interest Income		229,735			236,381			452,253			472,281
INTEREST EXPENSE
Deposits		84,241			99,151			164,788			197,436
Federal funds purchased		965			126			1,777			126
Securities sold under repurchase agreements		663			645			1,405			1,677
Federal Home Loan Bank advances		9,714			6,398			19,078			13,171
Subordinated debentures and other borrowings		1,138			1,490			1,921			4,237
Total Interest Expense		96,721			107,810			188,969			216,647
NET INTEREST INCOME		133,014			128,571			263,284			255,634
Provision for credit losses		5,600			24,500			9,800			26,500
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		127,414			104,071			253,484			229,134
NONINTEREST INCOME
Service charges on deposit accounts		8,566			8,214			16,638			16,121
Fiduciary and wealth management fees		8,831			8,825			17,475			17,025
Card payment fees		4,932			4,739			9,458			9,239
Net gains and fees on sales of loans		5,849			5,141			10,871			8,395
Derivative hedge fees		831			489			1,235			752
Other customer fees		401			460			816			887
Earnings on cash surrender value of life insurance		1,913			1,929			4,092			3,521
Net realized losses on sales of available for sale securities		(1	)		(49	)		(8	)		(51	)
Other income (loss)		(19	)		1,586			774			2,083
Total Noninterest Income		31,303			31,334			61,351			57,972
NONINTEREST EXPENSES
Salaries and employee benefits		54,527			52,214			109,509			110,507
Net occupancy		6,845			6,746			14,061			14,058
Equipment		6,927			6,599			13,935			12,825
Marketing		1,997			1,773			3,350			2,971
Outside data processing fees		7,107			7,072			13,036			13,961
Printing and office supplies		272			354			619			707
Intangible asset amortization		1,505			1,771			3,031			3,728
FDIC assessments		3,552			3,278			7,200			7,565
Other real estate owned and foreclosure expenses		29			373			629			907
Professional and other outside services		3,741			3,822			7,002			7,774
Other expenses		7,096			7,411			14,128			13,345
Total Noninterest Expenses		93,598			91,413			186,500			188,348
INCOME BEFORE INCOME TAX		65,119			43,992			128,335			98,758
Income tax expense		8,287			4,067			16,164			10,892
NET INCOME		56,832			39,925			112,171			87,866
Preferred stock dividends		469			469			938			938
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	56,363		$	39,456		$	111,233		$	86,928


PER SHARE DATA:
Basic Net Income Available to Common Stockholders	$	0.98		$	0.68		$	1.93		$	1.48
Diluted Net Income Available to Common Stockholders	$	0.98		$	0.68		$	1.92		$	1.48
Cash Dividends Paid to Common Stockholders	$	0.36		$	0.35		$	0.71		$	0.69
Tangible Common Book Value Per Share	$	27.90		$	25.10		$	27.90		$	25.10
Average Diluted Common Shares Outstanding (in thousands)		57,773			58,328			58,005			58,800

FINANCIAL HIGHLIGHTS
(Dollars In Thousands)	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
NET CHARGE-OFFS	$	2,315		$	39,644		$	7,241		$	41,897

AVERAGE BALANCES:
Total Assets	$	18,508,785		$	18,332,159		$	18,425,723		$	18,381,340
Total Loans		13,211,729			12,620,530			13,077,288			12,548,798
Total Earning Assets		17,158,984			17,013,984			17,060,278			17,068,917
Total Deposits		14,632,113			14,895,867			14,526,314			14,888,536
Total Stockholders’ Equity		2,340,010			2,203,361			2,340,440			2,222,750

FINANCIAL RATIOS:
Return on Average Assets		1.23	%		0.87	%		1.22	%		0.96	%
Return on Average Stockholders’ Equity		9.63			7.16			9.51			7.82
Return on Tangible Common Stockholders’ Equity		14.49			11.29			14.30			12.26
Average Earning Assets to Average Assets		92.71			92.81			92.59			92.86
Allowance for Credit Losses – Loans as % of Total Loans		1.47			1.50			1.47			1.50
Net Charge-offs as % of Average Loans (Annualized)		0.07			1.26			0.11			0.67
Average Stockholders’ Equity to Average Assets		12.64			12.02			12.70			12.09
Tax Equivalent Yield on Average Earning Assets		5.50			5.69			5.45			5.67
Interest Expense/Average Earning Assets		2.25			2.53			2.22			2.54
Net Interest Margin (FTE) on Average Earning Assets		3.25			3.16			3.23			3.13
Efficiency Ratio		53.99			53.84			54.26			56.47

ASSET QUALITY
(Dollars In Thousands)	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024
Nonaccrual Loans	$	67,358		$	81,922		$	73,773		$	59,088		$	61,906
Other Real Estate Owned and Repossessions		177			4,966			4,948			5,247			4,824
Nonperforming Assets (NPA)		67,535			86,888			78,721			64,335			66,730
90+ Days Delinquent		4,443			4,280			5,902			14,105			1,686
NPAs & 90 Day Delinquent	$	71,978		$	91,168		$	84,623		$	78,440		$	68,416

Allowance for Credit Losses – Loans	$	195,316		$	192,031		$	192,757		$	187,828		$	189,537
Quarterly Net Charge-offs		2,315			4,926			771			6,709			39,644
NPAs / Actual Assets %		0.36	%		0.47	%		0.43	%		0.35	%		0.36	%
NPAs & 90 Day / Actual Assets %		0.39	%		0.49	%		0.46	%		0.43	%		0.37	%
NPAs / Actual Loans and OREO %		0.51	%		0.67	%		0.61	%		0.51	%		0.53	%
Allowance for Credit Losses – Loans / Actual Loans (%)		1.47	%		1.47	%		1.50	%		1.48	%		1.50	%
Quarterly Net Charge-offs as % of Average Loans (Annualized)		0.07	%		0.15	%		0.02	%		0.21	%		1.26	%

CONSOLIDATED BALANCE SHEETS
(Dollars In Thousands)	June 30,			March 31,			December 31,			September 30,			June 30,
		2025			2025			2024			2024			2024
ASSETS
Cash and due from banks	$	81,567		$	86,113		$	87,616		$	84,719		$	105,372
Interest-bearing deposits		223,343			331,534			298,891			359,126			168,528
Investment securities available for sale		1,358,130			1,378,489			1,386,475			1,553,496			1,618,893
Investment securities held to maturity, net of allowance for credit losses		2,022,826			2,048,632			2,074,220			2,108,649			2,134,195
Loans held for sale		28,783			23,004			18,663			40,652			32,292
Loans		13,296,759			13,004,905			12,854,359			12,646,808			12,639,650
Less: Allowance for credit losses – loans		(195,316	)		(192,031	)		(192,757	)		(187,828	)		(189,537	)
Net loans		13,101,443			12,812,874			12,661,602			12,458,980			12,450,113
Premises and equipment		122,808			128,749			129,743			129,582			133,245
Federal Home Loan Bank stock		47,290			45,006			41,690			41,716			41,738
Interest receivable		93,258			88,352			91,829			92,055			97,546
Goodwill		712,002			712,002			712,002			712,002			712,002
Other intangibles		16,797			18,302			19,828			21,599			23,371
Cash surrender value of life insurance		305,695			304,918			304,906			304,613			306,379
Other real estate owned		177			4,966			4,948			5,247			4,824
Tax asset, deferred and receivable		97,749			87,665			92,387			86,732			107,080
Other assets		380,909			369,181			387,169			348,384			367,845
TOTAL ASSETS	$	18,592,777		$	18,439,787		$	18,311,969		$	18,347,552		$	18,303,423
LIABILITIES
Deposits:
Noninterest-bearing	$	2,197,416		$	2,185,057		$	2,325,579		$	2,334,197		$	2,303,313
Interest-bearing		12,600,162			12,276,921			12,196,047			12,030,903			12,265,757
Total Deposits		14,797,578			14,461,978			14,521,626			14,365,100			14,569,070
Borrowings:
Federal funds purchased		85,000			185,000			99,226			30,000			147,229
Securities sold under repurchase agreements		114,758			122,947			142,876			124,894			100,451
Federal Home Loan Bank advances		898,702			972,478			822,554			832,629			832,703
Subordinated debentures and other borrowings		62,617			62,619			93,529			93,562			93,589
Total Borrowings		1,161,077			1,343,044			1,158,185			1,081,085			1,173,972
Deposits and other liabilities held for sale		—			—			—			288,476			—
Interest payable		16,174			13,304			16,102			18,089			18,554
Other liabilities		269,996			289,247			311,073			292,429			329,302
Total Liabilities		16,244,825			16,107,573			16,006,986			16,045,179			16,090,898
STOCKHOLDERS’ EQUITY
Preferred Stock, $1,000 par value, $1,000 liquidation value:
Authorized — 600 cumulative shares
Issued and outstanding – 125 cumulative shares		125			125			125			125			125
Preferred Stock, Series A, no par value, $2,500 liquidation preference:
Authorized — 10,000 non-cumulative perpetual shares
Issued and outstanding – 10,000 non-cumulative perpetual shares		25,000			25,000			25,000			25,000			25,000
Common Stock, $.125 stated value:
Authorized — 100,000,000 shares
Issued and outstanding		7,159			7,226			7,247			7,265			7,256
Additional paid-in capital		1,163,170			1,183,263			1,188,768			1,192,683			1,191,193
Retained earnings		1,342,473			1,306,911			1,272,528			1,229,125			1,200,930
Accumulated other comprehensive loss		(189,975	)		(190,311	)		(188,685	)		(151,825	)		(211,979	)
Total Stockholders’ Equity		2,347,952			2,332,214			2,304,983			2,302,373			2,212,525
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	18,592,777		$	18,439,787		$	18,311,969		$	18,347,552		$	18,303,423

CONSOLIDATED STATEMENTS OF INCOME
(Dollars In Thousands, Except Per Share Amounts)	June 30,				March 31,				December 31,				September 30,				June 30,
	2025				2025				2024				2024				2024
INTEREST INCOME
Loans:
Taxable	$	195,173			$	187,728			$	197,536			$	206,680			$	201,413
Tax-exempt		10,805				10,532				9,020				8,622				8,430
Investment securities:
Taxable		8,266				8,372				9,024				9,263				9,051
Tax-exempt		12,516				12,517				12,754				13,509				13,613
Deposits with financial institutions		1,892				2,372				5,350				2,154				2,995
Federal Home Loan Bank stock		1,083				997				958				855				879
Total Interest Income		229,735				222,518				234,642				241,083				236,381
INTEREST EXPENSE
Deposits		84,241				80,547				89,835				98,856				99,151
Federal funds purchased		965				812				26				329				126
Securities sold under repurchase agreements		663				742				680				700				645
Federal Home Loan Bank advances		9,714				9,364				8,171				8,544				6,398
Subordinated debentures and other borrowings		1,138				783				1,560				1,544				1,490
Total Interest Expense		96,721				92,248				100,272				109,973				107,810
NET INTEREST INCOME		133,014				130,270				134,370				131,110				128,571
Provision for credit losses		5,600				4,200				4,200				5,000				24,500
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		127,414				126,070				130,170				126,110				104,071
NONINTEREST INCOME
Service charges on deposit accounts		8,566				8,072				8,124				8,361				8,214
Fiduciary and wealth management fees		8,831				8,644				8,665				8,525				8,825
Card payment fees		4,932				4,526				4,957				5,121				4,739
Net gains and fees on sales of loans		5,849				5,022				5,681				6,764				5,141
Derivative hedge fees		831				404				1,594				736				489
Other customer fees		401				415				316				344				460
Earnings on cash surrender value of life insurance		1,913				2,179				2,188				2,755				1,929
Net realized losses on sales of available for sale securities		(1	)			(7	)			(11,592	)			(9,114	)			(49	)
Gain on branch sale		—				—				19,983				—				—
Other income (loss)		(19	)			793				2,826				1,374				1,586
Total Noninterest Income		31,303				30,048				42,742				24,866				31,334
NONINTEREST EXPENSES
Salaries and employee benefits		54,527				54,982				55,437				55,223				52,214
Net occupancy		6,845				7,216				7,335				6,994				6,746
Equipment		6,927				7,008				7,028				6,949				6,599
Marketing		1,997				1,353				2,582				1,836				1,773
Outside data processing fees		7,107				5,929				6,029				7,150				7,072
Printing and office supplies		272				347				377				378				354
Intangible asset amortization		1,505				1,526				1,771				1,772				1,771
FDIC assessments		3,552				3,648				3,744				3,720				3,278
Other real estate owned and foreclosure expenses		29				600				227				942				373
Professional and other outside services		3,741				3,261				3,777				3,035				3,822
Other expenses		7,096				7,032				7,982				6,630				7,411
Total Noninterest Expenses		93,598				92,902				96,289				94,629				91,413
INCOME BEFORE INCOME TAX		65,119				63,216				76,623				56,347				43,992
Income tax expense		8,287				7,877				12,274				7,160				4,067
NET INCOME		56,832				55,339				64,349				49,187				39,925
Preferred stock dividends		469				469				469				468				469
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	56,363			$	54,870			$	63,880			$	48,719			$	39,456


PER SHARE DATA:
Basic Net Income Available to Common Stockholders	$	0.98			$	0.95			$	1.10			$	0.84			$	0.68
Diluted Net Income Available to Common Stockholders	$	0.98			$	0.94			$	1.10			$	0.84			$	0.68
Cash Dividends Paid to Common Stockholders	$	0.36			$	0.35			$	0.35			$	0.35			$	0.35
Tangible Common Book Value Per Share	$	27.90			$	27.34			$	26.78			$	26.64			$	25.10
Average Diluted Common Shares Outstanding (in thousands)		57,773				58,242				58,247				58,289				58,328
FINANCIAL RATIOS:
Return on Average Assets		1.23		%		1.21		%		1.39		%		1.07		%		0.87		%
Return on Average Stockholders’ Equity		9.63				9.38				11.05				8.66				7.16
Return on Tangible Common Stockholders’ Equity		14.49				14.12				16.75				13.39				11.29
Average Earning Assets to Average Assets		92.71				92.47				92.48				92.54				92.81
Allowance for Credit Losses – Loans as % of Total Loans		1.47				1.47				1.50				1.48				1.50
Net Charge-offs as % of Average Loans (Annualized)		0.07				0.15				0.02				0.21				1.26
Average Stockholders’ Equity to Average Assets		12.64				12.76				12.51				12.26				12.02
Tax Equivalent Yield on Average Earning Assets		5.50				5.39				5.63				5.82				5.69
Interest Expense/Average Earning Assets		2.25				2.17				2.35				2.59				2.53
Net Interest Margin (FTE) on Average Earning Assets		3.25				3.22				3.28				3.23				3.16
Efficiency Ratio		53.99				54.54				48.48				53.76				53.84

LOANS
(Dollars In Thousands)	June 30,			March 31,			December 31,			September 30,			June 30,
		2025			2025			2024			2024			2024
Commercial and industrial loans	$	4,440,924		$	4,306,597		$	4,114,292		$	4,041,217		$	3,949,817
Agricultural land, production and other loans to farmers		265,172			243,864			256,312			238,743			239,926
Real estate loans:
Construction		836,033			793,175			792,144			814,704			823,267
Commercial real estate, non-owner occupied		2,171,092			2,177,869			2,274,016			2,251,351			2,323,533
Commercial real estate, owner occupied		1,226,797			1,214,739			1,157,944			1,152,751			1,174,195
Residential		2,397,094			2,389,852			2,374,729			2,366,943			2,370,905
Home equity		673,961			650,499			659,811			641,188			631,104
Individuals’ loans for household and other personal expenditures		141,045			140,954			166,028			158,480			162,089
Public finance and other commercial loans		1,144,641			1,087,356			1,059,083			981,431			964,814
Loans		13,296,759			13,004,905			12,854,359			12,646,808			12,639,650
Allowance for credit losses – loans		(195,316	)		(192,031	)		(192,757	)		(187,828	)		(189,537	)
NET LOANS	$	13,101,443		$	12,812,874		$	12,661,602		$	12,458,980		$	12,450,113


DEPOSITS
(Dollars In Thousands)	June 30,			March 31,			December 31,			September 30,			June 30,
		2025			2025			2024			2024			2024
Demand deposits	$	7,798,695		$	7,786,554		$	7,980,061		$	7,678,510		$	7,757,679
Savings deposits		4,984,659			4,791,874			4,522,758			4,302,236			4,339,161
Certificates and other time deposits of $100,000 or less		617,857			625,203			692,068			802,949			889,949
Certificates and other time deposits of $100,000 or more		891,139			896,143			1,043,068			1,277,833			1,415,131
Brokered certificates of deposits¹		505,228			362,204			283,671			303,572			167,150
TOTAL DEPOSITS	$	14,797,578		$	14,461,978		$	14,521,626		$	14,365,100		$	14,569,070

^{1 –} Total brokered deposits of $1.2 billion, which includes brokered CD’s of $505.2 million at June 30, 2025.

CONSOLIDATED AVERAGE BALANCE SHEET AND NET INTEREST MARGIN ANALYSIS
(Dollars In Thousands)
	Three Months Ended
	June 30, 2025						June 30, 2024
	Average Balance		Interest Income / Expense		Average Rate		Average Balance		Interest Income / Expense		Average Rate
ASSETS
Interest-bearing deposits	$	252,613	$	1,892	3.00	%	$	322,647	$	2,995	3.71	%
Federal Home Loan Bank stock		46,598		1,083	9.30			41,749		879	8.42
Investment Securities: ⁽¹⁾
Taxable		1,605,718		8,266	2.06			1,788,749		9,051	2.02
Tax-exempt ⁽²⁾		2,042,326		15,843	3.10			2,240,309		17,232	3.08
Total Investment Securities		3,648,044		24,109	2.64			4,029,058		26,283	2.61
Loans held for sale		25,411		389	6.12			28,585		431	6.03
Loans: ⁽³⁾
Commercial		9,006,650		154,108	6.84			8,691,746		160,848	7.40
Real estate mortgage		2,200,521		25,062	4.56			2,150,591		23,799	4.43
HELOC and installment		834,901		15,614	7.48			823,417		16,335	7.94
Tax-exempt ⁽²⁾		1,144,246		13,677	4.78			926,191		10,670	4.61
Total Loans		13,211,729		208,850	6.32			12,620,530		212,083	6.72
Total Earning Assets		17,158,984		235,934	5.50	%		17,013,984		242,240	5.69	%
Total Non-Earning Assets		1,349,801						1,318,175
TOTAL ASSETS	$	18,508,785					$	18,332,159
LIABILITIES
Interest-Bearing Deposits:
Interest-bearing deposits	$	5,545,158	$	35,303	2.55	%	$	5,586,549	$	40,994	2.94	%
Money market deposits		3,613,952		28,714	3.18			3,036,398		27,230	3.59
Savings deposits		1,282,951		2,513	0.78			1,508,734		3,476	0.92
Certificates and other time deposits		2,003,682		17,711	3.54			2,414,967		27,451	4.55
Total Interest-Bearing Deposits		12,445,743		84,241	2.71			12,546,648		99,151	3.16
Borrowings		1,250,519		12,480	3.99			885,919		8,659	3.91
Total Interest-Bearing Liabilities		13,696,262		96,721	2.82			13,432,567		107,810	3.21
Noninterest-bearing deposits		2,186,370						2,349,219
Other liabilities		286,143						347,012
Total Liabilities		16,168,775						16,128,798
STOCKHOLDERS’ EQUITY		2,340,010						2,203,361
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	18,508,785					$	18,332,159
Net Interest Income (FTE)			$	139,213					$	134,430
Net Interest Spread (FTE) ⁽⁴⁾					2.68	%					2.48	%

Net Interest Margin (FTE):
Interest Income (FTE) / Average Earning Assets					5.50	%					5.69	%
Interest Expense / Average Earning Assets					2.25	%					2.53	%
Net Interest Margin (FTE) ⁽⁵⁾					3.25	%					3.16	%

⁽¹⁾ Average balance of securities is computed based on the average of the historical amortized cost balances without the effects of the fair value adjustments. Annualized amounts are computed using a 30/360 day basis.
⁽²⁾ Tax-exempt securities and loans are presented on a fully taxable equivalent basis, using a marginal tax rate of 21 percent for 2025 and 2024. These totals equal $6,199 and $5,859 for the three months ended June 30, 2025 and 2024, respectively.
⁽³⁾ Non accruing loans have been included in the average balances.
⁽⁴⁾ Net Interest Spread (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average interest-bearing liabilities.
⁽⁵⁾ Net Interest Margin (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average earning assets.

CONSOLIDATED AVERAGE BALANCE SHEET AND NET INTEREST MARGIN ANALYSIS
(Dollars In Thousands)
	Six Months Ended
	June 30, 2025						June 30, 2024
	Average Balance		Interest Income / Expense		Average Rate		Average Balance		Interest Income / Expense		Average Rate
ASSETS
Interest-bearing deposits	$	273,200	$	4,264	3.12	%	$	449,173	$	9,488	4.22	%
Federal Home Loan Bank stock		45,296		2,080	9.18			41,757		1,714	8.21
Investment Securities: ⁽¹⁾
Taxable		1,620,005		16,638	2.05			1,785,903		17,799	1.99
Tax-exempt ⁽²⁾		2,044,489		31,687	3.10			2,243,286		34,461	3.07
Total Investment Securities		3,664,494		48,325	2.64			4,029,189		52,260	2.59
Loans held for sale		23,190		708	6.11			25,184		759	6.03
Loans: ⁽³⁾
Commercial		8,889,119		301,880	6.79			8,644,927		320,057	7.40
Real estate mortgage		2,195,988		49,508	4.51			2,140,769		46,156	4.31
HELOC and installment		831,904		30,805	7.41			822,616		32,464	7.89
Tax-exempt ⁽²⁾		1,137,087		27,009	4.75			915,302		21,038	4.60
Total Loans		13,077,288		409,910	6.27			12,548,798		420,474	6.70
Total Earning Assets		17,060,278		464,579	5.45	%		17,068,917		483,936	5.67	%
Total Non-Earning Assets		1,365,445						1,312,423
TOTAL ASSETS	$	18,425,723					$	18,381,340
LIABILITIES
Interest-Bearing deposits:
Interest-bearing deposits	$	5,533,858	$	69,909	2.53	%	$	5,503,185	$	80,484	2.92	%
Money market deposits		3,526,461		54,666	3.10			3,040,938		54,613	3.59
Savings deposits		1,291,133		4,958	0.77			1,534,305		7,277	0.95
Certificates and other time deposits		1,975,923		35,255	3.57			2,421,413		55,062	4.55
Total Interest-Bearing Deposits		12,327,375		164,788	2.67			12,499,841		197,436	3.16
Borrowings		1,256,688		24,181	3.85			948,866		19,211	4.05
Total Interest-Bearing Liabilities		13,584,063		188,969	2.78			13,448,707		216,647	3.22
Noninterest-bearing deposits		2,198,939						2,388,695
Other liabilities		302,281						321,188
Total Liabilities		16,085,283						16,158,590
STOCKHOLDERS’ EQUITY		2,340,440						2,222,750
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	18,425,723					$	18,381,340
Net Interest Income (FTE)			$	275,610					$	267,289
Net Interest Spread (FTE) ⁽⁴⁾					2.67	%					2.45	%

Net Interest Margin (FTE):
Interest Income (FTE) / Average Earning Assets					5.45	%					5.67	%
Interest Expense / Average Earning Assets					2.22	%					2.54	%
Net Interest Margin (FTE) ⁽⁵⁾					3.23	%					3.13	%

⁽¹⁾ Average balance of securities is computed based on the average of the historical amortized cost balances without the effects of the fair value adjustments. Annualized amounts are computed using a 30/360 day basis.
⁽²⁾ Tax-exempt securities and loans are presented on a fully taxable equivalent basis, using a marginal tax rate of 21 percent for 2025 and 2024. These totals equal $12,326 and $11,655 for the six months ended June 30, 2025 and 2024, respectively.
⁽³⁾ Non accruing loans have been included in the average balances.
⁽⁴⁾ Net Interest Spread (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average interest-bearing liabilities.
⁽⁵⁾ Net Interest Margin (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average earning assets.

ADJUSTED NET INCOME AND DILUTED EARNINGS PER COMMON SHARE – NON-GAAP
(Dollars In Thousands, Except Per Share Amounts)	Three Months Ended																			Six Months Ended
	June 30,			March 31,				December 31,				September 30,				June 30,				June 30,				June 30,
	2025			2025				2024				2024				2024				2025				2024
Net Income Available to Common Stockholders – GAAP	$	56,363		$	54,870			$	63,880			$	48,719			$	39,456			$	111,233			$	86,928
Adjustments:
Net realized losses on sales of available for sale securities		1			7				11,592				9,114				49				8				51
Gain on branch sale		—			—				(19,983	)			—				—				—				—
Non-core expenses^1,2		—			—				762				—				—				—				3,481
Tax on adjustments		—			(2	)			1,851				(2,220	)			(12	)			(2	)			(860	)
Adjusted Net Income Available to Common Stockholders – Non-GAAP	$	56,364		$	54,875			$	58,102			$	55,613			$	39,493			$	111,239			$	89,600

Average Diluted Common Shares Outstanding (in thousands)		57,773			58,242				58,247				58,289				58,328				58,005				58,800

Diluted Earnings Per Common Share – GAAP	$	0.98		$	0.94			$	1.10			$	0.84			$	0.68			$	1.92			$	1.48
Adjustments:
Net realized losses on sales of available for sale securities		—			—				0.20				0.15				—				—				—
Gain on branch sale		—			—				(0.34	)			—				—				—				—
Non-core expenses^1,2		—			—				0.01				—				—				—				0.06
Tax on adjustments		—			—				0.03				(0.04	)			—				—				(0.01	)
Adjusted Diluted Earnings Per Common Share – Non-GAAP	$	0.98		$	0.94			$	1.00			$	0.95			$	0.68			$	1.92			$	1.53

¹ – Non-core expenses in the Three Months Ended December 31, 2024 included $0.8 million of costs directly related to the branch sale.
² – Non-core expenses in the Six Months Ended June 30, 2024 included $2.4 million from duplicative online banking conversion costs and $1.1 million from the FDIC special assessment.


NET INTEREST MARGIN (“NIM”), ADJUSTED
(Dollars in Thousands)
	Three Months Ended																			Six Months Ended
	June 30,			March 31,				December 31,				September 30,				June 30,				June 30,				June 30,
	2025			2025				2024				2024				2024				2025				2024
Net Interest Income (GAAP)	$	133,014		$	130,270			$	134,370			$	131,110			$	128,571			$	263,284			$	255,634
Fully Taxable Equivalent (“FTE”) Adjustment		6,199			6,127				5,788				5,883				5,859				12,326				11,655
Net Interest Income (FTE) (non-GAAP)	$	139,213		$	136,397			$	140,158			$	136,993			$	134,430			$	275,610			$	267,289

Average Earning Assets (GAAP)	$	17,158,984		$	16,960,475			$	17,089,198			$	16,990,358			$	17,013,984			$	17,060,278			$	17,068,917
Net Interest Margin (GAAP)		3.10	%		3.07		%		3.15		%		3.09		%		3.02		%		3.09		%		3.00		%
FTE Adjustment		0.15	%		0.15		%		0.13		%		0.14		%		0.14		%		0.14		%		0.13		%
Net Interest Margin (FTE) (non-GAAP)		3.25	%		3.22		%		3.28		%		3.23		%		3.16		%		3.23		%		3.13		%

RETURN ON TANGIBLE COMMON EQUITY – NON-GAAP
(Dollars In Thousands)	Three Months Ended																				Six Months Ended
	June 30,				March 31,				December 31,				September 30,				June 30,				June 30,				June 30,
	2025				2025				2024				2024				2024				2025				2024
Total Average Stockholders’ Equity (GAAP)	$	2,340,010			$	2,340,874			$	2,312,270			$	2,251,547			$	2,203,361			$	2,340,440			$	2,222,750
Less: Average Preferred Stock		(25,125	)			(25,125	)			(25,125	)			(25,125	)			(25,125	)			(25,125	)			(25,125	)
Less: Average Intangible Assets, Net of Tax		(725,813	)			(726,917	)			(728,218	)			(729,581	)			(730,980	)			(726,362	)			(731,706	)
Average Tangible Common Equity, Net of Tax (Non-GAAP)	$	1,589,072			$	1,588,832			$	1,558,927			$	1,496,841			$	1,447,256			$	1,588,953			$	1,465,919

Net Income Available to Common Stockholders (GAAP)	$	56,363			$	54,870			$	63,880			$	48,719			$	39,456			$	111,233			$	86,928
Plus: Intangible Asset Amortization, Net of Tax		1,188				1,206				1,399				1,399				1,399				2,394				2,945
Tangible Net Income (Non-GAAP)	$	57,551			$	56,076			$	65,279			$	50,118			$	40,855			$	113,627			$	89,873

Return on Tangible Common Equity (Non-GAAP)		14.49		%		14.12		%		16.75		%		13.39		%		11.29		%		14.30		%		12.26		%


EFFICIENCY RATIO – NON-GAAP
(Dollars In Thousands)	Three Months Ended																				Six Months Ended
	June 30,				March 31,				December 31,				September 30,				June 30,				June 30,				June 30,
	2025				2025				2024				2024				2024				2025				2024
Noninterest Expense (GAAP)	$	93,598			$	92,902			$	96,289			$	94,629			$	91,413			$	186,500			$	188,348
Less: Intangible Asset Amortization		(1,505	)			(1,526	)			(1,771	)			(1,772	)			(1,771	)			(3,031	)			(3,728	)
Less: OREO and Foreclosure Expenses		(29	)			(600	)			(227	)			(942	)			(373	)			(629	)			(907	)

Adjusted Noninterest Expense (Non-GAAP)	$	92,064			$	90,776			$	94,291			$	91,915			$	89,269			$	182,840			$	183,713

Net Interest Income (GAAP)	$	133,014			$	130,270			$	134,370			$	131,110			$	128,571			$	263,284			$	255,634
Plus: Fully Taxable Equivalent Adjustment		6,199				6,127				5,788				5,883				5,859				12,326				11,655
Net Interest Income on a Fully Taxable Equivalent Basis (Non-GAAP)	$	139,213			$	136,397			$	140,158			$	136,993			$	134,430			$	275,610			$	267,289

Noninterest Income (GAAP)	$	31,303			$	30,048			$	42,742			$	24,866			$	31,334			$	61,351			$	57,972
Less: Investment Securities (Gains) Losses		1				7				11,592				9,114				49				8				51
Adjusted Noninterest Income (Non-GAAP)	$	31,304			$	30,055			$	54,334			$	33,980			$	31,383			$	61,359			$	58,023
Adjusted Revenue (Non-GAAP)	$	170,517			$	166,452			$	194,492			$	170,973			$	165,813			$	336,969			$	325,312
Efficiency Ratio (Non-GAAP)		53.99		%		54.54		%		48.48		%		53.76		%		53.84		%		54.26		%		56.47		%

Adjusted Noninterest Expense (Non-GAAP)	$	92,064			$	90,776			$	94,291			$	91,915			$	89,269			$	182,840			$	183,713
Less: Non-core Expenses^1,2		—				—				(762	)			—				—				—				(3,481	)
Adjusted Noninterest Expense Excluding Non-core Expenses (Non-GAAP)	$	92,064			$	90,776			$	93,529			$	91,915			$	89,269			$	182,840			$	180,232

Adjusted Revenue (Non-GAAP)	$	170,517			$	166,452			$	194,492			$	170,973			$	165,813			$	336,969			$	325,312
Less: Gain on Branch Sale		—				—				(19,983	)			—				—				—				—
Adjusted Revenue Excluding Gain on Branch Sale (Non-GAAP)	$	170,517			$	166,452			$	174,509			$	170,973			$	165,813			$	336,969			$	325,312

Adjusted Efficiency Ratio (Non-GAAP)		53.99		%		54.54		%		53.60		%		53.76		%		53.84		%		54.26		%		55.40		%

¹ – Non-core expenses in the Three Months Ended December 31, 2024 included $0.8 million of costs directly related to the branch sale.
² – Non-core expenses in the Six Months Ended June 30, 2024 included $2.4 million from duplicative online banking conversion costs and $1.1 million from the FDIC special assessment.

For more information, contact:
Nicole M. Weaver, First Vice President and Director of Corporate Administration
765-521-7619
http://www.firstmerchants.com

SOURCE: First Merchants Corporation, Muncie, Indiana

The MIL Network –

July 24, 2025

MIL-OSI: Brookline Bancorp Announces Second Quarter Results

Source: GlobeNewswire (MIL-OSI)

Net Income of $22.0 million, EPS of $0.25

Quarterly Dividend of $0.135

BOSTON, July 23, 2025 (GLOBE NEWSWIRE) — Brookline Bancorp, Inc. (NASDAQ: BRKL) (the “Company”) today announced net income of $22.0 million, or $0.25 per basic and diluted share, for the second quarter of 2025, compared to net income of $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025, and $16.4 million, or $0.18 per basic and diluted share, for the second quarter of 2024. The Company reported operating earnings after tax (non-GAAP) of $22.4 million, or $0.25 per basic and diluted share, for the second quarter of 2025, compared to operating earnings after tax (non-GAAP) of $20.0 million, or $0.22 per basic and diluted share, for the first quarter of 2025, and $17.0 million, or $0.19 per basic and diluted share, for the second quarter of 2024.

Commenting on the second quarter’s performance, Mr. Perrault stated, “We are pleased to report solid earnings for the second quarter of the year led by growth in our C&I portfolio and deposits. Our dedicated team of bankers continue to provide exceptional service to the communities we serve. As a result of these efforts, our net interest margin expanded again this quarter despite intentional contraction in our commercial real estate portfolio.”

BALANCE SHEET

Total assets at June 30, 2025 were $11.6 billion, representing an increase of $48.9 million from $11.5 billion at March 31, 2025, primarily driven by an increase in cash and cash equivalents partially offset by a reduction of loans and leases. Total assets decreased $66.5 million from June 30, 2024.

At June 30, 2025, total loans and leases were $9.6 billion, representing a decrease of $60.3 million from March 31, 2025, and a decrease of $138.8 million from June 30, 2024.

Total investment securities at June 30, 2025 decreased $15.7 million to $866.7 million from $882.4 million at March 31, 2025, and increased $10.3 million from $856.4 million at June 30, 2024. Total cash and cash equivalents at June 30, 2025 increased $149.2 million to $506.7 million from $357.5 million at March 31, 2025, and increased $163.6 million from $343.1 million at June 30, 2024. As of June 30, 2025, total investment securities and total cash and cash equivalents represented 11.9 percent of total assets, compared to 10.8 percent and 10.3 percent as of March 31, 2025 and June 30, 2024, respectively.

Total deposits at June 30, 2025 increased $49.8 million to $9.0 billion from March 31, 2025, primarily driven by an increase of $58.3 million in customer deposits partially offset by a decline of $8.5 million in brokered deposits. Total deposits increased $224.2 million from $8.7 billion at June 30, 2024, primarily driven by an increase of $391.2 million in customer deposits partially offset by a decline of $167.0 million in brokered deposits.

Total borrowed funds at June 30, 2025 remained flat at $1.2 billion compared to March 31, 2025, and decreased $274.4 million from $1.4 billion at June 30, 2024.

The ratio of stockholders’ equity to total assets was 10.84 percent at June 30, 2025, as compared to 10.77 percent at March 31, 2025, and 10.30 percent at June 30, 2024. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 8.82 percent at June 30, 2025, as compared to 8.73 percent at March 31, 2025, and 8.23 percent at June 30, 2024. Tangible book value per common share (non-GAAP) increased $0.17 from $11.03 at March 31, 2025 to $11.20 at June 30, 2025, and increased $0.67 from $10.53 at June 30, 2024.

NET INTEREST INCOME

Net interest income increased $2.9 million to $88.7 million during the second quarter of 2025 from $85.8 million for the quarter ended March 31, 2025. The net interest margin increased 10 basis points to 3.32 percent for the three months ended June 30, 2025 from 3.22 percent for the three months ended March 31, 2025, primarily driven by lower funding costs and higher yields on loans and leases.

NON-INTEREST INCOME

Total non-interest income for the quarter ended June 30, 2025 increased $0.3 million to $6.0 million from $5.7 million for the quarter ended March 31, 2025. The increase was primarily driven by an increase of $0.2 million in gain on sales of loans and leases.

PROVISION FOR CREDIT LOSSES

The Company recorded a provision for credit losses of $7.0 million for the quarter ended June 30, 2025, compared to $6.0 million for the quarter ended March 31, 2025. The increase in provision was driven by a combination of continued stress in the Boston office sector as well as additional specific reserves on two large Eastern Funding credits.

Total net charge-offs for the second quarter of 2025 were $5.1 million, compared to $7.6 million in the first quarter of 2025. The $5.1 million in net charge-offs was driven by two commercial real estate loans that were sold during the quarter resulting in a combined $3.5 million in net charge-offs. The ratio of net loan and lease charge-offs to average loans and leases on an annualized basis decreased to 21 basis points for the second quarter of 2025 from 31 basis points for the first quarter of 2025.

The allowance for loan and lease losses represented 1.32 percent of total loans and leases at June 30, 2025, compared to 1.29 percent at March 31, 2025, and 1.25 percent at June 30, 2024.

ASSET QUALITY

The ratio of nonperforming loans and leases to total loans and leases was 0.65 percent at June 30, 2025, flat compared to March 31, 2025. Total nonaccrual loans and leases decreased $0.8 million to $62.3 million at June 30, 2025 from $63.1 million at March 31, 2025, driven by the sale of two commercial real estate loans. The ratio of nonperforming assets to total assets was 0.55 percent at June 30, 2025, a decrease from 0.56 percent at March 31, 2025. Total nonperforming assets decreased $0.4 million to $63.6 million at June 30, 2025 from $64.0 million at March 31, 2025.

NON-INTEREST EXPENSE

Non-interest expense for the quarter ended June 30, 2025 decreased $1.9 million to $58.1 million from $60.0 million for the quarter ended March 31, 2025. The decrease was primarily driven by decreases of $0.7 million in compensation and employee benefits expense, $0.5 million in merger and acquisition expense related to the previously announced proposed merger of the Company with Berkshire Hills Bancorp, Inc. (“Berkshire”), and $0.4 million in occupancy expense, partially offset by an increase of $0.5 million in advertising and marketing expense.

PROVISION FOR INCOME TAXES

The effective tax rate was 25.6 percent and 25.3 percent for the three and six months ended June 30, 2025 compared to 25.0 percent for the three months ended March 31, 2025 and 24.4 percent and 24.5 percent for the three and six months ended June 30, 2024.

RETURNS ON AVERAGE ASSETS AND AVERAGE EQUITY

The annualized return on average assets increased to 0.77 percent during the second quarter 2025 from 0.66 percent for the first quarter of 2025.

The annualized return on average stockholders’ equity increased to 7.04 percent during the second quarter of 2025 from 6.19 percent for the first quarter of 2025. The annualized return on average tangible stockholders’ equity (non-GAAP) increased to 8.85 percent for the second quarter of 2025 from 7.82 percent for the first quarter of 2025.

DIVIDEND DECLARED

The Company’s Board of Directors approved a dividend of $0.135 per share for the quarter ended June 30, 2025. The dividend will be paid on August 22, 2025 to stockholders of record on August 8, 2025.

CONFERENCE CALL

The Company will conduct a conference call/webcast at 1:30 PM Eastern Time on Thursday, July 24, 2025 to discuss the results for the quarter, business highlights and outlook. A copy of the Earnings Presentation is available on the Company’s website, www.brooklinebancorp.com. To listen to the call and view the Company’s Earnings Presentation, please join the call via https://events.q4inc.com/attendee/149362707. To listen to the call without access to the slides, interested parties may dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp, Inc. conference call (Access Code 673409). A recorded playback of the call will be available for one week following the call on the Company’s website under “Investor Relations” or by dialing 866-813-9403 (United States) or 929-458-6194 (internationally) and entering the passcode: 916742.

ABOUT BROOKLINE BANCORP, INC.

Brookline Bancorp, Inc., a bank holding company with $11.6 billion in assets and branch locations in Massachusetts, Rhode Island, and the Lower Hudson Valley of New York State, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and PCSB Bank (the “banks”). The Company provides commercial and retail banking services, cash management and investment services to customers throughout Central New England and the Lower Hudson Valley of New York State. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebank.com, www.bankri.com and www.pcsb.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission (“SEC”), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company’s control. These include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of the Company or Berkshire to terminate the merger agreement; the outcome of any legal proceedings that may be instituted against Berkshire or Company; delays in completing the proposed transaction with Berkshire; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction), or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all, including the ability of Berkshire and the Company to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the impact of certain restrictions during the pendency of the proposed transaction on the parties’ ability to pursue certain business opportunities and strategic transactions; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; changes in interest rates; general economic conditions (including the impact of actual or threatened tariffs imposed by the U.S. and foreign governments, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates; ongoing turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company’s investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

BASIS OF PRESENTATION

The Company’s consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) as set forth by the Financial Accounting Standards Board in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period’s presentation.

NON-GAAP FINANCIAL MEASURES

The Company uses certain non-GAAP financial measures, such as operating earnings after tax, operating earnings per common share, operating return on average assets, operating return on average tangible assets, operating return on average stockholders’ equity, operating return on average tangible stockholders’ equity, tangible book value per common share, tangible stockholders’ equity to tangible assets, return on average tangible assets (annualized) and return on average tangible stockholders’ equity (annualized). These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company’s GAAP to the non-GAAP measures is attached.

INVESTOR RELATIONS:

Contact:	Carl M. Carlson
	Brookline Bancorp, Inc.
	Co-President and Chief Financial and Strategy Officer
	(617) 425-5331
	carl.carlson@brkl.com

BROOKLINE BANCORP, INC AND SUBSIDIARIES
Selected Financial Highlights (Unaudited)
	At and for the Three Months Ended
	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands Except per Share Data)
Earnings Data:
Net interest income	$	88,685		$	85,830		$	84,988		$	83,008		$	80,001
Provision for credit losses on loans	6,997			5,974			4,141			4,832			5,607
Provision (recovery) of credit losses on investments	3			12			(104)			(172)			(39)
Non-interest income	5,970			5,660			6,587			6,348			6,396
Non-interest expense	58,061			60,022			63,719			57,948			59,184
Income before provision for income taxes	29,594			25,482			23,819			26,748			21,645
Net income	22,026			19,100			17,536			20,142			16,372

Performance Ratios:
Net interest margin (1)	3.32		%	3.22		%	3.12		%	3.07		%	3.00		%
Interest-rate spread (1)	2.57		%	2.38		%	2.35		%	2.26		%	2.14		%
Return on average assets (annualized)	0.77		%	0.66		%	0.61		%	0.70		%	0.57		%
Return on average tangible assets (annualized) (non-GAAP)	0.79		%	0.68		%	0.62		%	0.72		%	0.59		%
Return on average stockholders’ equity (annualized)	7.04		%	6.19		%	5.69		%	6.63		%	5.49		%
Return on average tangible stockholders’ equity (annualized) (non-GAAP)	8.85		%	7.82		%	7.21		%	8.44		%	7.04		%
Efficiency ratio (2)	61.34		%	65.60		%	69.58		%	64.85		%	68.50		%

Per Common Share Data:
Net income — Basic	$	0.25		$	0.21		$	0.20		$	0.23		$	0.18
Net income — Diluted	0.25			0.21			0.20			0.23			0.18
Cash dividends declared	0.135			0.135			0.135			0.135			0.135
Book value per share (end of period)	14.08			13.92			13.71			13.81			13.48
Tangible book value per share (end of period) (non-GAAP)	11.20			11.03			10.81			10.89			10.53
Stock price (end of period)	10.55			10.90			11.80			10.09			8.35

Balance Sheet:
Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
Total loans and leases	9,582,374			9,642,722			9,779,288			9,755,236			9,721,137
Total deposits	8,961,202			8,911,452			8,901,644			8,732,271			8,737,036
Total stockholders’ equity	1,254,171			1,240,182			1,221,939			1,230,362			1,198,480

Asset Quality:
Nonperforming assets	$	63,596		$	64,021		$	70,452		$	72,821		$	62,683
Nonperforming assets as a percentage of total assets	0.55		%	0.56		%	0.59		%	0.62		%	0.54		%
Allowance for loan and lease losses	$	126,725		$	124,145		$	125,083		$	127,316		$	121,750
Allowance for loan and lease losses as a percentage of total loans and leases	1.32		%	1.29		%	1.28		%	1.31		%	1.25		%
Net loan and lease charge-offs	$	5,127		$	7,597		$	7,252		$	3,808		$	8,387
Net loan and lease charge-offs as a percentage of average loans and leases (annualized)	0.21		%	0.31		%	0.30		%	0.16		%	0.35		%

Capital Ratios:
Stockholders’ equity to total assets	10.84		%	10.77		%	10.26		%	10.54		%	10.30		%
Tangible stockholders’ equity to tangible assets (non-GAAP)	8.82		%	8.73		%	8.27		%	8.50		%	8.23		%

(1) Calculated on a fully tax-equivalent basis.
(2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Balance Sheets (Unaudited)

	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
ASSETS	(In Thousands Except Share Data)
Cash and due from banks	$	87,386		$	78,741		$	64,673		$	82,168		$	60,067
Short-term investments		419,362			278,805			478,997			325,721			283,017
Total cash and cash equivalents		506,748			357,546			543,670			407,889			343,084
Investment securities available-for-sale		866,684			882,353			895,034			855,391			856,439
Total investment securities		866,684			882,353			895,034			855,391			856,439
Allowance for investment security losses		(97	)		(94	)		(82	)		(186	)		(359	)
Net investment securities		866,587			882,259			894,952			855,205			856,080
Loans and leases:
Commercial real estate loans		5,485,546			5,580,982			5,716,114			5,779,290			5,782,111
Commercial loans and leases		2,520,347			2,512,912			2,506,664			2,453,038			2,443,530
Consumer loans		1,576,481			1,548,828			1,556,510			1,522,908			1,495,496
Total loans and leases		9,582,374			9,642,722			9,779,288			9,755,236			9,721,137
Allowance for loan and lease losses		(126,725	)		(124,145	)		(125,083	)		(127,316	)		(121,750	)
Net loans and leases		9,455,649			9,518,577			9,654,205			9,627,920			9,599,387
Restricted equity securities		66,481			67,537			83,155			82,675			78,963
Premises and equipment, net of accumulated depreciation		83,963			84,439			86,781			86,925			88,378
Right-of-use asset operating leases		42,415			44,144			43,527			41,934			35,691
Deferred tax asset		52,325			52,176			56,620			50,827			60,032
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net of accumulated amortization		14,600			16,030			17,461			19,162			20,830
Other real estate owned and repossessed assets		1,288			917			1,103			1,579			1,974
Other assets		237,467			255,022			282,630			261,383			309,651
Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Demand checking accounts	$	1,726,933		$	1,664,629		$	1,692,394		$	1,681,858		$	1,638,378
NOW accounts		650,707			625,492			617,246			637,374			647,370
Savings accounts		1,795,761			1,793,852			1,721,247			1,736,989			1,735,857
Money market accounts		2,153,709			2,183,855			2,116,360			2,041,185			2,073,557
Certificate of deposit accounts		1,877,661			1,878,665			1,885,444			1,819,353			1,718,414
Brokered deposit accounts		756,431			764,959			868,953			815,512			923,460
Total deposits		8,961,202			8,911,452			8,901,644			8,732,271			8,737,036
Borrowed funds:
Advances from the FHLB		934,669			957,848			1,355,926			1,345,003			1,265,079
Subordinated debentures and notes		84,397			84,362			84,328			84,293			84,258
Other borrowed funds		135,985			113,617			79,592			68,251			80,125
Total borrowed funds		1,155,051			1,155,827			1,519,846			1,497,547			1,429,462
Operating lease liabilities		43,528			45,330			44,785			43,266			37,102
Mortgagors’ escrow accounts		15,289			15,264			15,875			14,456			17,117
Reserve for unfunded credits		4,586			5,296			5,981			6,859			11,400
Accrued expenses and other liabilities		134,918			146,518			195,256			151,960			204,695
Total liabilities		10,314,574			10,279,687			10,683,387			10,446,359			10,436,812
Stockholders’ equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, and 96,998,075 shares issued, respectively		970			970			970			970			970
Additional paid-in capital		904,697			903,696			902,584			901,562			904,775
Retained earnings		475,781			465,898			458,943			453,555			445,560
Accumulated other comprehensive income		(39,378	)		(42,498	)		(52,882	)		(38,081	)		(61,693	)
Treasury stock, at cost;
7,039,136, 7,037,610, 7,019,384, 7,015,843, and 7,373,009 shares, respectively		(87,899	)		(87,884	)		(87,676	)		(87,644	)		(91,132	)
Total stockholders’ equity		1,254,171			1,240,182			1,221,939			1,230,362			1,198,480
Total liabilities and stockholders’ equity	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Statements of Income (Unaudited)
	Three Months Ended
	June 30, 2025			March 31, 2025		December 31, 2024			September 30, 2024			June 30, 2024
	(In Thousands Except Share Data)
Interest and dividend income:
Loans and leases	$	143,933		$	143,309	$	147,436		$	149,643		$	145,585
Debt securities		6,691			6,765		6,421			6,473			6,480
Restricted equity securities		1,062			1,203		1,460			1,458			1,376
Short-term investments		2,386			2,451		2,830			1,986			1,914
Total interest and dividend income		154,072			153,728		158,147			159,560			155,355
Interest expense:
Deposits		52,682			53,478		56,562			59,796			59,721
Borrowed funds		12,705			14,420		16,597			16,756			15,633
Total interest expense		65,387			67,898		73,159			76,552			75,354
Net interest income		88,685			85,830		84,988			83,008			80,001
Provision for credit losses on loans		6,997			5,974		4,141			4,832			5,607
Provision (recovery) of credit losses on investments		3			12		(104	)		(172	)		(39	)
Net interest income after provision for credit losses		81,685			79,844		80,951			78,348			74,433
Non-interest income:
Deposit fees		2,472			2,361		2,297			2,353			3,001
Loan fees		472			393		439			464			702
Loan level derivative income (loss)		(4	)		70		1,115			—			106
Gain on sales of loans and leases held-for-sale		264			24		406			415			130
Other		2,766			2,812		2,330			3,116			2,457
Total non-interest income		5,970			5,660		6,587			6,348			6,396
Non-interest expense:
Compensation and employee benefits		35,147			35,853		37,202			35,130			34,762
Occupancy		5,349			5,721		5,393			5,343			5,551
Equipment and data processing		6,841			7,012		6,780			6,831			6,732
Professional services		1,471			1,726		1,345			2,143			1,745
FDIC insurance		1,880			2,037		2,017			2,118			2,025
Advertising and marketing		1,371			868		1,303			859			1,504
Amortization of identified intangible assets		1,431			1,430		1,701			1,668			1,669
Merger and restructuring expense		439			971		3,378			—			823
Other		4,132			4,404		4,600			3,856			4,373
Total non-interest expense		58,061			60,022		63,719			57,948			59,184
Income before provision for income taxes		29,594			25,482		23,819			26,748			21,645
Provision for income taxes		7,568			6,382		6,283			6,606			5,273
Net income	$	22,026		$	19,100	$	17,536		$	20,142		$	16,372
Earnings per common share:
Basic	$	0.25		$	0.21	$	0.20		$	0.23		$	0.18
Diluted	$	0.25		$	0.21	$	0.20		$	0.23		$	0.18
Weighted average common shares outstanding during the period:
Basic		89,104,605			89,103,510		89,098,443			89,033,463			88,904,692
Diluted		89,612,781			89,567,747		89,483,964			89,319,611			89,222,315
Dividends paid per common share	$	0.135		$	0.135	$	0.135		$	0.135		$	0.135

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Statements of Income (Unaudited)

	Six Months Ended June 30,
		2025		2024
	(In Thousands Except Share Data)
Interest and dividend income:
Loans and leases	$	287,242	$	290,850
Debt securities		13,456		13,358
Restricted equity securities		2,265		2,868
Short-term investments		4,837		3,738
Total interest and dividend income		307,800		310,814
Interest expense:
Deposits		106,160		116,605
Borrowed funds		27,125		32,620
Total interest expense		133,285		149,225
Net interest income		174,515		161,589
Provision for credit losses on loans		12,971		13,030
Provision (credit) for credit losses on investments		15		(83	)
Net interest income after provision for credit losses		161,529		148,642
Non-interest income:
Deposit Fees		4,833		5,898
Loan Fees		865		1,491
Loan level derivative income, net		66		543
Gain on sales of loans and leases held-for-sale		288		130
Other		5,578		4,618
Total non-interest income		11,630		12,680
Non-interest expense:
Compensation and employee benefits		71,000		71,391
Occupancy		11,070		11,320
Equipment and data processing		13,853		13,763
Professional services		3,197		3,645
FDIC insurance		3,917		3,909
Advertising and marketing		2,239		3,078
Amortization of identified intangible assets		2,861		3,377
Merger and restructuring expense		1,410		823
Other		8,536		8,892
Total non-interest expense		118,083		120,198
Income before provision for income taxes		55,076		41,124
Provision for income taxes		13,950		10,087
Net income	$	41,126	$	31,037
Earnings per common share:
Basic	$	0.46	$	0.35
Diluted	$	0.46	$	0.35
Weighted average common shares outstanding during the period:
Basic		89,104,060		88,899,635
Diluted		89,590,267		89,201,912
Dividends paid per common share	$	0.270	$	0.270

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Asset Quality Analysis (Unaudited)
	At and for the Three Months Ended
		June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands)
NONPERFORMING ASSETS:
Loans and leases accounted for on a nonaccrual basis:
Commercial real estate mortgage	$	987		$	10,842		$	11,525		$	11,595		$	11,659
Multi-family mortgage		1,433			6,576			6,596			1,751			—
Total commercial real estate loans		2,420			17,418			18,121			13,346			11,659

Commercial		8,687			7,415			14,676			15,734			16,636
Equipment financing		46,067			32,975			31,509			37,223			27,128
Total commercial loans and leases		54,754			40,390			46,185			52,957			43,764

Residential mortgage		3,572			3,962			3,999			3,862			4,495
Home equity		1,561			1,333			1,043			1,076			790
Other consumer		1			1			1			1			1
Total consumer loans		5,134			5,296			5,043			4,939			5,286

Total nonaccrual loans and leases		62,308			63,104			69,349			71,242			60,709

Other real estate owned		700			700			700			780			780
Other repossessed assets		588			217			403			799			1,194
Total nonperforming assets	$	63,596		$	64,021		$	70,452		$	72,821		$	62,683

Loans and leases past due greater than 90 days and still accruing	$	24,899		$	3,009		$	811		$	16,091		$	4,994

Nonperforming loans and leases as a percentage of total loans and leases		0.65	%		0.65	%		0.71	%		0.73	%		0.62	%
Nonperforming assets as a percentage of total assets		0.55	%		0.56	%		0.59	%		0.62	%		0.54	%

PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:
Allowance for loan and lease losses at beginning of period	$	124,145		$	125,083		$	127,316		$	121,750		$	120,124
Charge-offs		(5,601	)		(9,073	)		(8,414	)		(4,183	)		(8,823	)
Recoveries		474			1,476			1,162			375			436
Net charge-offs		(5,127	)		(7,597	)		(7,252	)		(3,808	)		(8,387	)
Provision for loan and lease losses excluding unfunded commitments *		7,707			6,659			5,019			9,374			10,013
Allowance for loan and lease losses at end of period	$	126,725		$	124,145		$	125,083		$	127,316		$	121,750

Allowance for loan and lease losses as a percentage of total loans and leases		1.32	%		1.29	%		1.28	%		1.31	%		1.25	%

NET CHARGE-OFFS:
Commercial real estate loans	$	3,524		$	—		$	—		$	—		$	3,819
Commercial loans and leases		1,640			7,647			7,257			3,797			4,571
Consumer loans		(37	)		(50	)		(5	)		11			(3	)
Total net charge-offs	$	5,127		$	7,597		$	7,252		$	3,808		$	8,387

Net loan and lease charge-offs as a percentage of average loans and leases (annualized)		0.21	%		0.31	%		0.30	%		0.16	%		0.35	%

*Provision for loan and lease losses does not include (credit) provision of $(0.7 million), $(0.7 million), $(0.9 million), $(4.5 million), and $(4.4 million) for credit losses on unfunded commitments during the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Average Yields / Costs (Unaudited)
	Three Months Ended
	June 30, 2025							March 31, 2025							June 30, 2024
	Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost
	(Dollars in Thousands)
Assets:
Interest-earning assets:
Investments:
Debt securities (2)	$	874,212	$	6,752		3.09	%	$	888,913	$	6,814		3.07	%	$	846,469	$	6,510		3.08	%
Restricted equity securities (2)		65,724		1,062		6.46	%		69,784		1,204		6.90	%		71,696		1,375		7.67	%
Short-term investments		215,982		2,386		4.42	%		202,953		2,451		4.83	%		143,800		1,914		5.33	%
Total investments		1,155,918		10,200		3.53	%		1,161,650		10,469		3.60	%		1,061,965		9,799		3.69	%
Loans and Leases:
Commercial real estate loans (3)		5,533,208		77,136		5.51	%		5,651,390		77,243		5.47	%		5,754,901		81,565		5.61	%
Commercial loans (3)		1,286,908		20,757		6.38	%		1,237,078		19,698		6.37	%		1,069,154		17,672		6.54	%
Equipment financing (3)		1,240,128		25,069		8.09	%		1,281,425		25,965		8.11	%		1,374,217		26,255		7.64	%
Consumer loans (3)		1,556,254		21,437		5.51	%		1,548,973		20,861		5.41	%		1,488,587		20,291		5.46	%
Total loans and leases		9,616,498		144,399		6.01	%		9,718,866		143,767		5.92	%		9,686,859		145,783		6.02	%
Total interest-earning assets		10,772,416		154,599		5.74	%		10,880,516		154,236		5.67	%		10,748,824		155,582		5.79	%
Non-interest-earning assets		630,518							662,814							704,570
Total assets	$	11,402,934						$	11,543,330						$	11,453,394

Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Deposits:
NOW accounts	$	637,786		1,034		0.65	%	$	628,346		1,005		0.65	%	$	659,351		1,111		0.68	%
Savings accounts		1,780,838		10,692		2.41	%		1,743,688		10,173		2.37	%		1,731,388		11,874		2.76	%
Money market accounts		2,189,373		13,990		2.56	%		2,187,581		13,587		2.52	%		2,026,780		15,520		3.08	%
Certificates of deposit		1,879,749		18,437		3.93	%		1,886,386		19,593		4.21	%		1,699,510		18,717		4.43	%
Brokered deposit accounts		748,205		8,529		4.57	%		767,275		9,120		4.82	%		958,146		12,499		5.25	%
Total interest-bearing deposits		7,235,951		52,682		2.92	%		7,213,276		53,478		3.01	%		7,075,175		59,721		3.39	%
Borrowings
Advances from the FHLB		904,399		10,422		4.56	%		1,007,508		11,847		4.70	%		1,049,609		12,894		4.86	%
Subordinated debentures and notes		84,380		1,718		8.14	%		84,345		1,701		8.07	%		84,241		1,375		6.53	%
Other borrowed funds		46,086		565		4.93	%		71,462		872		4.95	%		103,753		1,364		5.29	%
Total borrowings		1,034,865		12,705		4.86	%		1,163,315		14,420		4.96	%		1,237,603		15,633		5.00	%
Total interest-bearing liabilities		8,270,816		65,387		3.17	%		8,376,591		67,898		3.29	%		8,312,778		75,354		3.65	%
Non-interest-bearing liabilities:
Demand checking accounts		1,654,594							1,680,527							1,646,869
Other non-interest-bearing liabilities		225,469							251,011							300,362
Total liabilities		10,150,879							10,308,129							10,260,009
Stockholders’ equity		1,252,055							1,235,201							1,193,385
Total liabilities and equity	$	11,402,934						$	11,543,330						$	11,453,394
Net interest income (tax-equivalent basis) /Interest-rate spread (4)				89,212		2.57	%				86,338		2.38	%				80,228		2.14	%
Less adjustment of tax-exempt income				527							508							227
Net interest income			$	88,685						$	85,830						$	80,001
Net interest margin (5)						3.32	%						3.22	%						3.00	%

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
(3) Loans on nonaccrual status are included in the average balances.
(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Average Yields / Costs (Unaudited)
	Six Months Ended
	June 30, 2025							June 30, 2024
	Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost
	(Dollars in Thousands)
Assets:
Interest-earning assets:
Investments:
Debt securities (2)	$	881,522	$	13,566		3.08	%	$	869,848	$	13,437		3.09	%
Restricted equity securities (2)		67,743		2,266		6.69	%		74,015		2,868		7.75	%
Short-term investments		209,503		4,837		4.62	%		137,284		3,738		5.45	%
Total investments		1,158,768		20,669		3.57	%		1,081,147		20,043		3.71	%
Loans and Leases:
Commercial real estate loans (3)		5,591,973		154,379		5.49	%		5,758,318		162,614		5.59	%
Commercial loans (3)		1,262,130		40,455		6.38	%		1,047,810		35,179		6.64	%
Equipment financing (3)		1,260,663		51,034		8.10	%		1,374,322		53,150		7.73	%
Consumer loans (3)		1,552,633		42,298		5.46	%		1,485,702		40,269		5.43	%
Total loans and leases		9,667,399		288,166		5.96	%		9,666,152		291,212		6.03	%
Total interest-earning assets		10,826,167		308,835		5.71	%		10,747,299		311,255		5.79	%
Non-interest-earning assets		646,577							684,343
Total assets	$	11,472,744						$	11,431,642

Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Deposits:
NOW accounts	$	633,092		2,039		0.65	%	$	665,632		2,372		0.72	%
Savings accounts		1,762,366		20,865		2.39	%		1,712,804		23,226		2.73	%
Money market accounts		2,188,482		27,577		2.54	%		2,051,542		31,474		3.09	%
Certificates of deposit		1,883,049		38,030		4.07	%		1,661,814		35,389		4.28	%
Brokered deposit accounts		757,687		17,649		4.70	%		927,465		24,144		5.23	%
Total interest-bearing deposits		7,224,676		106,160		2.96	%		7,019,257		116,605		3.34	%
Borrowings
Advances from the FHLB		955,669		22,269		4.63	%		1,107,071		27,527		4.92	%
Subordinated debentures and notes		84,363		3,419		8.11	%		84,223		2,752		6.54	%
Other borrowed funds		58,704		1,437		4.94	%		98,406		2,341		4.78	%
Total borrowings		1,098,736		27,125		4.91	%		1,289,700		32,620		5.00	%
Total interest-bearing liabilities		8,323,412		133,285		3.23	%		8,308,957		149,225		3.61	%
Non-interest-bearing liabilities:
Demand checking accounts		1,667,489							1,635,690
Other non-interest-bearing liabilities		238,169							289,351
Total liabilities		10,229,070							10,233,998
Stockholders’ equity		1,243,674							1,197,644
Total liabilities and equity	$	11,472,744						$	11,431,642
Net interest income (tax-equivalent basis) /Interest-rate spread (4)				175,550		2.48	%				162,030		2.18	%
Less adjustment of tax-exempt income				1,035							441
Net interest income			$	174,515						$	161,589
Net interest margin (5)						3.27	%						3.03	%

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
(3) Loans on nonaccrual status are included in the average balances.
(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Non-GAAP Financial Information (Unaudited)
	At and for the Three Months Ended March 31,						At and for the Six Months Ended June 30,
		2025			2024			2025			2024
Reconciliation Table – Non-GAAP Financial Information	(Dollars in Thousands Except Share Data)						(Dollars in Thousands Except Share Data)

Reported Pretax Income	$	29,594		$	21,645		$	55,076		$	41,124
Add:
Merger and restructuring expense		439			823			1,410			823
Operating Pretax Income	$	30,033		$	22,468		$	56,486		$	41,947
Effective tax rate		25.3	%		24.4	%		24.8	%		24.5	%
Provision for income taxes		7,590			5,473			14,008			10,289
Operating earnings after tax	$	22,443		$	16,995		$	42,478		$	31,658

Operating earnings per common share:
Basic	$	0.25		$	0.19		$	0.48		$	0.36
Diluted	$	0.25		$	0.19		$	0.47		$	0.35

Weighted average common shares outstanding during the period:
Basic		89,104,605			88,904,692			89,104,060			88,899,635
Diluted		89,612,781			89,222,315			89,590,267			89,201,912

Return on average assets *		0.77	%		0.57	%		0.72	%		0.54	%
Add:
Merger and restructuring expense (after-tax) *		0.01	%		0.02	%		0.02	%		0.01	%
Operating return on average assets *		0.78	%		0.59	%		0.74	%		0.55	%

Return on average tangible assets *		0.79	%		0.59	%		0.73	%		0.56	%
Add:
Merger and restructuring expense (after-tax) *		0.01	%		0.02	%		0.02	%		0.01	%
Operating return on average tangible assets *		0.80	%		0.61	%		0.75	%		0.57	%


Return on average stockholders’ equity *		7.04	%		5.49	%		6.61	%		5.18	%
Add:
Merger and restructuring expense (after-tax) *		0.10	%		0.21	%		0.17	%		0.10	%
Operating return on average stockholders’ equity *		7.14	%		5.70	%		6.78	%		5.28	%


Return on average tangible stockholders’ equity *		8.85	%		7.04	%		8.34	%		6.65	%
Add:
Merger and restructuring expense (after-tax) *		0.13	%		0.27	%		0.21	%		0.13	%
Operating return on average tangible stockholders’ equity *		8.98	%		7.31	%		8.55	%		6.78	%

* Ratios at and for the three months and six months ended are annualized.

	At and for the Three Months Ended
	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands)

Net income, as reported	$	22,026		$	19,100		$	17,536		$	20,142		$	16,372

Average total assets	$	11,402,934		$	11,543,330		$	11,580,572		$	11,451,338		$	11,453,394
Less: Average goodwill and average identified intangible assets, net		256,508			257,941			259,496			261,188			262,859
Average tangible assets	$	11,146,426		$	11,285,389		$	11,321,076		$	11,190,150		$	11,190,535

Return on average tangible assets (annualized)		0.79	%		0.68	%		0.62	%		0.72	%		0.59	%

Average total stockholders’ equity	$	1,252,055		$	1,235,201		$	1,232,527		$	1,216,037		$	1,193,385
Less: Average goodwill and average identified intangible assets, net		256,508			257,941			259,496			261,188			262,859
Average tangible stockholders’ equity	$	995,547		$	977,260		$	973,031		$	954,849		$	930,526

Return on average tangible stockholders’ equity (annualized)		8.85	%		7.82	%		7.21	%		8.44	%		7.04	%

Total stockholders’ equity	$	1,254,171		$	1,240,182		$	1,221,939		$	1,230,362		$	1,198,480
Less:
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net		14,600			16,030			17,461			19,162			20,830
Tangible stockholders’ equity	$	998,349		$	982,930		$	963,256		$	969,978		$	936,428

Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
Less:
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net		14,600			16,030			17,461			19,162			20,830
Tangible assets	$	11,312,923		$	11,262,617		$	11,646,643		$	11,416,337		$	11,373,240

Tangible stockholders’ equity to tangible assets		8.82	%		8.73	%		8.27	%		8.50	%		8.23	%

Tangible stockholders’ equity	$	998,349		$	982,930		$	963,256		$	969,978		$	936,428

Number of common shares issued		96,998,075			96,998,075			96,998,075			96,998,075			96,998,075
Less:
Treasury shares		7,039,136			7,037,610			7,019,384			7,015,843			7,373,009
Unvested restricted shares		854,334			855,860			880,248			883,789			713,443
Number of common shares outstanding		89,104,605			89,104,605			89,098,443			89,098,443			88,911,623

Tangible book value per common share	$	11.20		$	11.03		$	10.81		$	10.89		$	10.53

PDF available: http://ml.globenewswire.com/Resource/Download/713b7b8a-a804-4b26-a467-f10b0d266b1b

The MIL Network –

July 24, 2025

MIL-OSI: Brookline Bancorp Announces Second Quarter Results

Source: GlobeNewswire (MIL-OSI)

Net Income of $22.0 million, EPS of $0.25

Quarterly Dividend of $0.135

BOSTON, July 23, 2025 (GLOBE NEWSWIRE) — Brookline Bancorp, Inc. (NASDAQ: BRKL) (the “Company”) today announced net income of $22.0 million, or $0.25 per basic and diluted share, for the second quarter of 2025, compared to net income of $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025, and $16.4 million, or $0.18 per basic and diluted share, for the second quarter of 2024. The Company reported operating earnings after tax (non-GAAP) of $22.4 million, or $0.25 per basic and diluted share, for the second quarter of 2025, compared to operating earnings after tax (non-GAAP) of $20.0 million, or $0.22 per basic and diluted share, for the first quarter of 2025, and $17.0 million, or $0.19 per basic and diluted share, for the second quarter of 2024.

Commenting on the second quarter’s performance, Mr. Perrault stated, “We are pleased to report solid earnings for the second quarter of the year led by growth in our C&I portfolio and deposits. Our dedicated team of bankers continue to provide exceptional service to the communities we serve. As a result of these efforts, our net interest margin expanded again this quarter despite intentional contraction in our commercial real estate portfolio.”

BALANCE SHEET

Total assets at June 30, 2025 were $11.6 billion, representing an increase of $48.9 million from $11.5 billion at March 31, 2025, primarily driven by an increase in cash and cash equivalents partially offset by a reduction of loans and leases. Total assets decreased $66.5 million from June 30, 2024.

At June 30, 2025, total loans and leases were $9.6 billion, representing a decrease of $60.3 million from March 31, 2025, and a decrease of $138.8 million from June 30, 2024.

Total investment securities at June 30, 2025 decreased $15.7 million to $866.7 million from $882.4 million at March 31, 2025, and increased $10.3 million from $856.4 million at June 30, 2024. Total cash and cash equivalents at June 30, 2025 increased $149.2 million to $506.7 million from $357.5 million at March 31, 2025, and increased $163.6 million from $343.1 million at June 30, 2024. As of June 30, 2025, total investment securities and total cash and cash equivalents represented 11.9 percent of total assets, compared to 10.8 percent and 10.3 percent as of March 31, 2025 and June 30, 2024, respectively.

Total deposits at June 30, 2025 increased $49.8 million to $9.0 billion from March 31, 2025, primarily driven by an increase of $58.3 million in customer deposits partially offset by a decline of $8.5 million in brokered deposits. Total deposits increased $224.2 million from $8.7 billion at June 30, 2024, primarily driven by an increase of $391.2 million in customer deposits partially offset by a decline of $167.0 million in brokered deposits.

Total borrowed funds at June 30, 2025 remained flat at $1.2 billion compared to March 31, 2025, and decreased $274.4 million from $1.4 billion at June 30, 2024.

The ratio of stockholders’ equity to total assets was 10.84 percent at June 30, 2025, as compared to 10.77 percent at March 31, 2025, and 10.30 percent at June 30, 2024. The ratio of tangible stockholders’ equity to tangible assets (non-GAAP) was 8.82 percent at June 30, 2025, as compared to 8.73 percent at March 31, 2025, and 8.23 percent at June 30, 2024. Tangible book value per common share (non-GAAP) increased $0.17 from $11.03 at March 31, 2025 to $11.20 at June 30, 2025, and increased $0.67 from $10.53 at June 30, 2024.

NET INTEREST INCOME

Net interest income increased $2.9 million to $88.7 million during the second quarter of 2025 from $85.8 million for the quarter ended March 31, 2025. The net interest margin increased 10 basis points to 3.32 percent for the three months ended June 30, 2025 from 3.22 percent for the three months ended March 31, 2025, primarily driven by lower funding costs and higher yields on loans and leases.

NON-INTEREST INCOME

Total non-interest income for the quarter ended June 30, 2025 increased $0.3 million to $6.0 million from $5.7 million for the quarter ended March 31, 2025. The increase was primarily driven by an increase of $0.2 million in gain on sales of loans and leases.

PROVISION FOR CREDIT LOSSES

The Company recorded a provision for credit losses of $7.0 million for the quarter ended June 30, 2025, compared to $6.0 million for the quarter ended March 31, 2025. The increase in provision was driven by a combination of continued stress in the Boston office sector as well as additional specific reserves on two large Eastern Funding credits.

Total net charge-offs for the second quarter of 2025 were $5.1 million, compared to $7.6 million in the first quarter of 2025. The $5.1 million in net charge-offs was driven by two commercial real estate loans that were sold during the quarter resulting in a combined $3.5 million in net charge-offs. The ratio of net loan and lease charge-offs to average loans and leases on an annualized basis decreased to 21 basis points for the second quarter of 2025 from 31 basis points for the first quarter of 2025.

The allowance for loan and lease losses represented 1.32 percent of total loans and leases at June 30, 2025, compared to 1.29 percent at March 31, 2025, and 1.25 percent at June 30, 2024.

ASSET QUALITY

The ratio of nonperforming loans and leases to total loans and leases was 0.65 percent at June 30, 2025, flat compared to March 31, 2025. Total nonaccrual loans and leases decreased $0.8 million to $62.3 million at June 30, 2025 from $63.1 million at March 31, 2025, driven by the sale of two commercial real estate loans. The ratio of nonperforming assets to total assets was 0.55 percent at June 30, 2025, a decrease from 0.56 percent at March 31, 2025. Total nonperforming assets decreased $0.4 million to $63.6 million at June 30, 2025 from $64.0 million at March 31, 2025.

NON-INTEREST EXPENSE

Non-interest expense for the quarter ended June 30, 2025 decreased $1.9 million to $58.1 million from $60.0 million for the quarter ended March 31, 2025. The decrease was primarily driven by decreases of $0.7 million in compensation and employee benefits expense, $0.5 million in merger and acquisition expense related to the previously announced proposed merger of the Company with Berkshire Hills Bancorp, Inc. (“Berkshire”), and $0.4 million in occupancy expense, partially offset by an increase of $0.5 million in advertising and marketing expense.

PROVISION FOR INCOME TAXES

The effective tax rate was 25.6 percent and 25.3 percent for the three and six months ended June 30, 2025 compared to 25.0 percent for the three months ended March 31, 2025 and 24.4 percent and 24.5 percent for the three and six months ended June 30, 2024.

RETURNS ON AVERAGE ASSETS AND AVERAGE EQUITY

The annualized return on average assets increased to 0.77 percent during the second quarter 2025 from 0.66 percent for the first quarter of 2025.

The annualized return on average stockholders’ equity increased to 7.04 percent during the second quarter of 2025 from 6.19 percent for the first quarter of 2025. The annualized return on average tangible stockholders’ equity (non-GAAP) increased to 8.85 percent for the second quarter of 2025 from 7.82 percent for the first quarter of 2025.

DIVIDEND DECLARED

The Company’s Board of Directors approved a dividend of $0.135 per share for the quarter ended June 30, 2025. The dividend will be paid on August 22, 2025 to stockholders of record on August 8, 2025.

CONFERENCE CALL

The Company will conduct a conference call/webcast at 1:30 PM Eastern Time on Thursday, July 24, 2025 to discuss the results for the quarter, business highlights and outlook. A copy of the Earnings Presentation is available on the Company’s website, www.brooklinebancorp.com. To listen to the call and view the Company’s Earnings Presentation, please join the call via https://events.q4inc.com/attendee/149362707. To listen to the call without access to the slides, interested parties may dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp, Inc. conference call (Access Code 673409). A recorded playback of the call will be available for one week following the call on the Company’s website under “Investor Relations” or by dialing 866-813-9403 (United States) or 929-458-6194 (internationally) and entering the passcode: 916742.

ABOUT BROOKLINE BANCORP, INC.

Brookline Bancorp, Inc., a bank holding company with $11.6 billion in assets and branch locations in Massachusetts, Rhode Island, and the Lower Hudson Valley of New York State, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and PCSB Bank (the “banks”). The Company provides commercial and retail banking services, cash management and investment services to customers throughout Central New England and the Lower Hudson Valley of New York State. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebank.com, www.bankri.com and www.pcsb.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission (“SEC”), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company’s business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company’s control. These include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of the Company or Berkshire to terminate the merger agreement; the outcome of any legal proceedings that may be instituted against Berkshire or Company; delays in completing the proposed transaction with Berkshire; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction), or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all, including the ability of Berkshire and the Company to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the impact of certain restrictions during the pendency of the proposed transaction on the parties’ ability to pursue certain business opportunities and strategic transactions; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; changes in interest rates; general economic conditions (including the impact of actual or threatened tariffs imposed by the U.S. and foreign governments, inflation, and concerns about liquidity) on a national basis or in the local markets in which the Company operates; ongoing turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company’s investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

BASIS OF PRESENTATION

The Company’s consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) as set forth by the Financial Accounting Standards Board in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period’s presentation.

NON-GAAP FINANCIAL MEASURES

The Company uses certain non-GAAP financial measures, such as operating earnings after tax, operating earnings per common share, operating return on average assets, operating return on average tangible assets, operating return on average stockholders’ equity, operating return on average tangible stockholders’ equity, tangible book value per common share, tangible stockholders’ equity to tangible assets, return on average tangible assets (annualized) and return on average tangible stockholders’ equity (annualized). These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company’s GAAP to the non-GAAP measures is attached.

INVESTOR RELATIONS:

Contact:	Carl M. Carlson
	Brookline Bancorp, Inc.
	Co-President and Chief Financial and Strategy Officer
	(617) 425-5331
	carl.carlson@brkl.com

BROOKLINE BANCORP, INC AND SUBSIDIARIES
Selected Financial Highlights (Unaudited)
	At and for the Three Months Ended
	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands Except per Share Data)
Earnings Data:
Net interest income	$	88,685		$	85,830		$	84,988		$	83,008		$	80,001
Provision for credit losses on loans	6,997			5,974			4,141			4,832			5,607
Provision (recovery) of credit losses on investments	3			12			(104)			(172)			(39)
Non-interest income	5,970			5,660			6,587			6,348			6,396
Non-interest expense	58,061			60,022			63,719			57,948			59,184
Income before provision for income taxes	29,594			25,482			23,819			26,748			21,645
Net income	22,026			19,100			17,536			20,142			16,372

Performance Ratios:
Net interest margin (1)	3.32		%	3.22		%	3.12		%	3.07		%	3.00		%
Interest-rate spread (1)	2.57		%	2.38		%	2.35		%	2.26		%	2.14		%
Return on average assets (annualized)	0.77		%	0.66		%	0.61		%	0.70		%	0.57		%
Return on average tangible assets (annualized) (non-GAAP)	0.79		%	0.68		%	0.62		%	0.72		%	0.59		%
Return on average stockholders’ equity (annualized)	7.04		%	6.19		%	5.69		%	6.63		%	5.49		%
Return on average tangible stockholders’ equity (annualized) (non-GAAP)	8.85		%	7.82		%	7.21		%	8.44		%	7.04		%
Efficiency ratio (2)	61.34		%	65.60		%	69.58		%	64.85		%	68.50		%

Per Common Share Data:
Net income — Basic	$	0.25		$	0.21		$	0.20		$	0.23		$	0.18
Net income — Diluted	0.25			0.21			0.20			0.23			0.18
Cash dividends declared	0.135			0.135			0.135			0.135			0.135
Book value per share (end of period)	14.08			13.92			13.71			13.81			13.48
Tangible book value per share (end of period) (non-GAAP)	11.20			11.03			10.81			10.89			10.53
Stock price (end of period)	10.55			10.90			11.80			10.09			8.35

Balance Sheet:
Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
Total loans and leases	9,582,374			9,642,722			9,779,288			9,755,236			9,721,137
Total deposits	8,961,202			8,911,452			8,901,644			8,732,271			8,737,036
Total stockholders’ equity	1,254,171			1,240,182			1,221,939			1,230,362			1,198,480

Asset Quality:
Nonperforming assets	$	63,596		$	64,021		$	70,452		$	72,821		$	62,683
Nonperforming assets as a percentage of total assets	0.55		%	0.56		%	0.59		%	0.62		%	0.54		%
Allowance for loan and lease losses	$	126,725		$	124,145		$	125,083		$	127,316		$	121,750
Allowance for loan and lease losses as a percentage of total loans and leases	1.32		%	1.29		%	1.28		%	1.31		%	1.25		%
Net loan and lease charge-offs	$	5,127		$	7,597		$	7,252		$	3,808		$	8,387
Net loan and lease charge-offs as a percentage of average loans and leases (annualized)	0.21		%	0.31		%	0.30		%	0.16		%	0.35		%

Capital Ratios:
Stockholders’ equity to total assets	10.84		%	10.77		%	10.26		%	10.54		%	10.30		%
Tangible stockholders’ equity to tangible assets (non-GAAP)	8.82		%	8.73		%	8.27		%	8.50		%	8.23		%

(1) Calculated on a fully tax-equivalent basis.
(2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Balance Sheets (Unaudited)

	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
ASSETS	(In Thousands Except Share Data)
Cash and due from banks	$	87,386		$	78,741		$	64,673		$	82,168		$	60,067
Short-term investments		419,362			278,805			478,997			325,721			283,017
Total cash and cash equivalents		506,748			357,546			543,670			407,889			343,084
Investment securities available-for-sale		866,684			882,353			895,034			855,391			856,439
Total investment securities		866,684			882,353			895,034			855,391			856,439
Allowance for investment security losses		(97	)		(94	)		(82	)		(186	)		(359	)
Net investment securities		866,587			882,259			894,952			855,205			856,080
Loans and leases:
Commercial real estate loans		5,485,546			5,580,982			5,716,114			5,779,290			5,782,111
Commercial loans and leases		2,520,347			2,512,912			2,506,664			2,453,038			2,443,530
Consumer loans		1,576,481			1,548,828			1,556,510			1,522,908			1,495,496
Total loans and leases		9,582,374			9,642,722			9,779,288			9,755,236			9,721,137
Allowance for loan and lease losses		(126,725	)		(124,145	)		(125,083	)		(127,316	)		(121,750	)
Net loans and leases		9,455,649			9,518,577			9,654,205			9,627,920			9,599,387
Restricted equity securities		66,481			67,537			83,155			82,675			78,963
Premises and equipment, net of accumulated depreciation		83,963			84,439			86,781			86,925			88,378
Right-of-use asset operating leases		42,415			44,144			43,527			41,934			35,691
Deferred tax asset		52,325			52,176			56,620			50,827			60,032
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net of accumulated amortization		14,600			16,030			17,461			19,162			20,830
Other real estate owned and repossessed assets		1,288			917			1,103			1,579			1,974
Other assets		237,467			255,022			282,630			261,383			309,651
Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Demand checking accounts	$	1,726,933		$	1,664,629		$	1,692,394		$	1,681,858		$	1,638,378
NOW accounts		650,707			625,492			617,246			637,374			647,370
Savings accounts		1,795,761			1,793,852			1,721,247			1,736,989			1,735,857
Money market accounts		2,153,709			2,183,855			2,116,360			2,041,185			2,073,557
Certificate of deposit accounts		1,877,661			1,878,665			1,885,444			1,819,353			1,718,414
Brokered deposit accounts		756,431			764,959			868,953			815,512			923,460
Total deposits		8,961,202			8,911,452			8,901,644			8,732,271			8,737,036
Borrowed funds:
Advances from the FHLB		934,669			957,848			1,355,926			1,345,003			1,265,079
Subordinated debentures and notes		84,397			84,362			84,328			84,293			84,258
Other borrowed funds		135,985			113,617			79,592			68,251			80,125
Total borrowed funds		1,155,051			1,155,827			1,519,846			1,497,547			1,429,462
Operating lease liabilities		43,528			45,330			44,785			43,266			37,102
Mortgagors’ escrow accounts		15,289			15,264			15,875			14,456			17,117
Reserve for unfunded credits		4,586			5,296			5,981			6,859			11,400
Accrued expenses and other liabilities		134,918			146,518			195,256			151,960			204,695
Total liabilities		10,314,574			10,279,687			10,683,387			10,446,359			10,436,812
Stockholders’ equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, and 96,998,075 shares issued, respectively		970			970			970			970			970
Additional paid-in capital		904,697			903,696			902,584			901,562			904,775
Retained earnings		475,781			465,898			458,943			453,555			445,560
Accumulated other comprehensive income		(39,378	)		(42,498	)		(52,882	)		(38,081	)		(61,693	)
Treasury stock, at cost;
7,039,136, 7,037,610, 7,019,384, 7,015,843, and 7,373,009 shares, respectively		(87,899	)		(87,884	)		(87,676	)		(87,644	)		(91,132	)
Total stockholders’ equity		1,254,171			1,240,182			1,221,939			1,230,362			1,198,480
Total liabilities and stockholders’ equity	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Statements of Income (Unaudited)
	Three Months Ended
	June 30, 2025			March 31, 2025		December 31, 2024			September 30, 2024			June 30, 2024
	(In Thousands Except Share Data)
Interest and dividend income:
Loans and leases	$	143,933		$	143,309	$	147,436		$	149,643		$	145,585
Debt securities		6,691			6,765		6,421			6,473			6,480
Restricted equity securities		1,062			1,203		1,460			1,458			1,376
Short-term investments		2,386			2,451		2,830			1,986			1,914
Total interest and dividend income		154,072			153,728		158,147			159,560			155,355
Interest expense:
Deposits		52,682			53,478		56,562			59,796			59,721
Borrowed funds		12,705			14,420		16,597			16,756			15,633
Total interest expense		65,387			67,898		73,159			76,552			75,354
Net interest income		88,685			85,830		84,988			83,008			80,001
Provision for credit losses on loans		6,997			5,974		4,141			4,832			5,607
Provision (recovery) of credit losses on investments		3			12		(104	)		(172	)		(39	)
Net interest income after provision for credit losses		81,685			79,844		80,951			78,348			74,433
Non-interest income:
Deposit fees		2,472			2,361		2,297			2,353			3,001
Loan fees		472			393		439			464			702
Loan level derivative income (loss)		(4	)		70		1,115			—			106
Gain on sales of loans and leases held-for-sale		264			24		406			415			130
Other		2,766			2,812		2,330			3,116			2,457
Total non-interest income		5,970			5,660		6,587			6,348			6,396
Non-interest expense:
Compensation and employee benefits		35,147			35,853		37,202			35,130			34,762
Occupancy		5,349			5,721		5,393			5,343			5,551
Equipment and data processing		6,841			7,012		6,780			6,831			6,732
Professional services		1,471			1,726		1,345			2,143			1,745
FDIC insurance		1,880			2,037		2,017			2,118			2,025
Advertising and marketing		1,371			868		1,303			859			1,504
Amortization of identified intangible assets		1,431			1,430		1,701			1,668			1,669
Merger and restructuring expense		439			971		3,378			—			823
Other		4,132			4,404		4,600			3,856			4,373
Total non-interest expense		58,061			60,022		63,719			57,948			59,184
Income before provision for income taxes		29,594			25,482		23,819			26,748			21,645
Provision for income taxes		7,568			6,382		6,283			6,606			5,273
Net income	$	22,026		$	19,100	$	17,536		$	20,142		$	16,372
Earnings per common share:
Basic	$	0.25		$	0.21	$	0.20		$	0.23		$	0.18
Diluted	$	0.25		$	0.21	$	0.20		$	0.23		$	0.18
Weighted average common shares outstanding during the period:
Basic		89,104,605			89,103,510		89,098,443			89,033,463			88,904,692
Diluted		89,612,781			89,567,747		89,483,964			89,319,611			89,222,315
Dividends paid per common share	$	0.135		$	0.135	$	0.135		$	0.135		$	0.135

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Consolidated Statements of Income (Unaudited)

	Six Months Ended June 30,
		2025		2024
	(In Thousands Except Share Data)
Interest and dividend income:
Loans and leases	$	287,242	$	290,850
Debt securities		13,456		13,358
Restricted equity securities		2,265		2,868
Short-term investments		4,837		3,738
Total interest and dividend income		307,800		310,814
Interest expense:
Deposits		106,160		116,605
Borrowed funds		27,125		32,620
Total interest expense		133,285		149,225
Net interest income		174,515		161,589
Provision for credit losses on loans		12,971		13,030
Provision (credit) for credit losses on investments		15		(83	)
Net interest income after provision for credit losses		161,529		148,642
Non-interest income:
Deposit Fees		4,833		5,898
Loan Fees		865		1,491
Loan level derivative income, net		66		543
Gain on sales of loans and leases held-for-sale		288		130
Other		5,578		4,618
Total non-interest income		11,630		12,680
Non-interest expense:
Compensation and employee benefits		71,000		71,391
Occupancy		11,070		11,320
Equipment and data processing		13,853		13,763
Professional services		3,197		3,645
FDIC insurance		3,917		3,909
Advertising and marketing		2,239		3,078
Amortization of identified intangible assets		2,861		3,377
Merger and restructuring expense		1,410		823
Other		8,536		8,892
Total non-interest expense		118,083		120,198
Income before provision for income taxes		55,076		41,124
Provision for income taxes		13,950		10,087
Net income	$	41,126	$	31,037
Earnings per common share:
Basic	$	0.46	$	0.35
Diluted	$	0.46	$	0.35
Weighted average common shares outstanding during the period:
Basic		89,104,060		88,899,635
Diluted		89,590,267		89,201,912
Dividends paid per common share	$	0.270	$	0.270

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Asset Quality Analysis (Unaudited)
	At and for the Three Months Ended
		June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands)
NONPERFORMING ASSETS:
Loans and leases accounted for on a nonaccrual basis:
Commercial real estate mortgage	$	987		$	10,842		$	11,525		$	11,595		$	11,659
Multi-family mortgage		1,433			6,576			6,596			1,751			—
Total commercial real estate loans		2,420			17,418			18,121			13,346			11,659

Commercial		8,687			7,415			14,676			15,734			16,636
Equipment financing		46,067			32,975			31,509			37,223			27,128
Total commercial loans and leases		54,754			40,390			46,185			52,957			43,764

Residential mortgage		3,572			3,962			3,999			3,862			4,495
Home equity		1,561			1,333			1,043			1,076			790
Other consumer		1			1			1			1			1
Total consumer loans		5,134			5,296			5,043			4,939			5,286

Total nonaccrual loans and leases		62,308			63,104			69,349			71,242			60,709

Other real estate owned		700			700			700			780			780
Other repossessed assets		588			217			403			799			1,194
Total nonperforming assets	$	63,596		$	64,021		$	70,452		$	72,821		$	62,683

Loans and leases past due greater than 90 days and still accruing	$	24,899		$	3,009		$	811		$	16,091		$	4,994

Nonperforming loans and leases as a percentage of total loans and leases		0.65	%		0.65	%		0.71	%		0.73	%		0.62	%
Nonperforming assets as a percentage of total assets		0.55	%		0.56	%		0.59	%		0.62	%		0.54	%

PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:
Allowance for loan and lease losses at beginning of period	$	124,145		$	125,083		$	127,316		$	121,750		$	120,124
Charge-offs		(5,601	)		(9,073	)		(8,414	)		(4,183	)		(8,823	)
Recoveries		474			1,476			1,162			375			436
Net charge-offs		(5,127	)		(7,597	)		(7,252	)		(3,808	)		(8,387	)
Provision for loan and lease losses excluding unfunded commitments *		7,707			6,659			5,019			9,374			10,013
Allowance for loan and lease losses at end of period	$	126,725		$	124,145		$	125,083		$	127,316		$	121,750

Allowance for loan and lease losses as a percentage of total loans and leases		1.32	%		1.29	%		1.28	%		1.31	%		1.25	%

NET CHARGE-OFFS:
Commercial real estate loans	$	3,524		$	—		$	—		$	—		$	3,819
Commercial loans and leases		1,640			7,647			7,257			3,797			4,571
Consumer loans		(37	)		(50	)		(5	)		11			(3	)
Total net charge-offs	$	5,127		$	7,597		$	7,252		$	3,808		$	8,387

Net loan and lease charge-offs as a percentage of average loans and leases (annualized)		0.21	%		0.31	%		0.30	%		0.16	%		0.35	%

*Provision for loan and lease losses does not include (credit) provision of $(0.7 million), $(0.7 million), $(0.9 million), $(4.5 million), and $(4.4 million) for credit losses on unfunded commitments during the three months ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Average Yields / Costs (Unaudited)
	Three Months Ended
	June 30, 2025							March 31, 2025							June 30, 2024
	Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost
	(Dollars in Thousands)
Assets:
Interest-earning assets:
Investments:
Debt securities (2)	$	874,212	$	6,752		3.09	%	$	888,913	$	6,814		3.07	%	$	846,469	$	6,510		3.08	%
Restricted equity securities (2)		65,724		1,062		6.46	%		69,784		1,204		6.90	%		71,696		1,375		7.67	%
Short-term investments		215,982		2,386		4.42	%		202,953		2,451		4.83	%		143,800		1,914		5.33	%
Total investments		1,155,918		10,200		3.53	%		1,161,650		10,469		3.60	%		1,061,965		9,799		3.69	%
Loans and Leases:
Commercial real estate loans (3)		5,533,208		77,136		5.51	%		5,651,390		77,243		5.47	%		5,754,901		81,565		5.61	%
Commercial loans (3)		1,286,908		20,757		6.38	%		1,237,078		19,698		6.37	%		1,069,154		17,672		6.54	%
Equipment financing (3)		1,240,128		25,069		8.09	%		1,281,425		25,965		8.11	%		1,374,217		26,255		7.64	%
Consumer loans (3)		1,556,254		21,437		5.51	%		1,548,973		20,861		5.41	%		1,488,587		20,291		5.46	%
Total loans and leases		9,616,498		144,399		6.01	%		9,718,866		143,767		5.92	%		9,686,859		145,783		6.02	%
Total interest-earning assets		10,772,416		154,599		5.74	%		10,880,516		154,236		5.67	%		10,748,824		155,582		5.79	%
Non-interest-earning assets		630,518							662,814							704,570
Total assets	$	11,402,934						$	11,543,330						$	11,453,394

Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Deposits:
NOW accounts	$	637,786		1,034		0.65	%	$	628,346		1,005		0.65	%	$	659,351		1,111		0.68	%
Savings accounts		1,780,838		10,692		2.41	%		1,743,688		10,173		2.37	%		1,731,388		11,874		2.76	%
Money market accounts		2,189,373		13,990		2.56	%		2,187,581		13,587		2.52	%		2,026,780		15,520		3.08	%
Certificates of deposit		1,879,749		18,437		3.93	%		1,886,386		19,593		4.21	%		1,699,510		18,717		4.43	%
Brokered deposit accounts		748,205		8,529		4.57	%		767,275		9,120		4.82	%		958,146		12,499		5.25	%
Total interest-bearing deposits		7,235,951		52,682		2.92	%		7,213,276		53,478		3.01	%		7,075,175		59,721		3.39	%
Borrowings
Advances from the FHLB		904,399		10,422		4.56	%		1,007,508		11,847		4.70	%		1,049,609		12,894		4.86	%
Subordinated debentures and notes		84,380		1,718		8.14	%		84,345		1,701		8.07	%		84,241		1,375		6.53	%
Other borrowed funds		46,086		565		4.93	%		71,462		872		4.95	%		103,753		1,364		5.29	%
Total borrowings		1,034,865		12,705		4.86	%		1,163,315		14,420		4.96	%		1,237,603		15,633		5.00	%
Total interest-bearing liabilities		8,270,816		65,387		3.17	%		8,376,591		67,898		3.29	%		8,312,778		75,354		3.65	%
Non-interest-bearing liabilities:
Demand checking accounts		1,654,594							1,680,527							1,646,869
Other non-interest-bearing liabilities		225,469							251,011							300,362
Total liabilities		10,150,879							10,308,129							10,260,009
Stockholders’ equity		1,252,055							1,235,201							1,193,385
Total liabilities and equity	$	11,402,934						$	11,543,330						$	11,453,394
Net interest income (tax-equivalent basis) /Interest-rate spread (4)				89,212		2.57	%				86,338		2.38	%				80,228		2.14	%
Less adjustment of tax-exempt income				527							508							227
Net interest income			$	88,685						$	85,830						$	80,001
Net interest margin (5)						3.32	%						3.22	%						3.00	%

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
(3) Loans on nonaccrual status are included in the average balances.
(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Average Yields / Costs (Unaudited)
	Six Months Ended
	June 30, 2025							June 30, 2024
	Average Balance		Interest (1)		Average Yield/ Cost			Average Balance		Interest (1)		Average Yield/ Cost
	(Dollars in Thousands)
Assets:
Interest-earning assets:
Investments:
Debt securities (2)	$	881,522	$	13,566		3.08	%	$	869,848	$	13,437		3.09	%
Restricted equity securities (2)		67,743		2,266		6.69	%		74,015		2,868		7.75	%
Short-term investments		209,503		4,837		4.62	%		137,284		3,738		5.45	%
Total investments		1,158,768		20,669		3.57	%		1,081,147		20,043		3.71	%
Loans and Leases:
Commercial real estate loans (3)		5,591,973		154,379		5.49	%		5,758,318		162,614		5.59	%
Commercial loans (3)		1,262,130		40,455		6.38	%		1,047,810		35,179		6.64	%
Equipment financing (3)		1,260,663		51,034		8.10	%		1,374,322		53,150		7.73	%
Consumer loans (3)		1,552,633		42,298		5.46	%		1,485,702		40,269		5.43	%
Total loans and leases		9,667,399		288,166		5.96	%		9,666,152		291,212		6.03	%
Total interest-earning assets		10,826,167		308,835		5.71	%		10,747,299		311,255		5.79	%
Non-interest-earning assets		646,577							684,343
Total assets	$	11,472,744						$	11,431,642

Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Deposits:
NOW accounts	$	633,092		2,039		0.65	%	$	665,632		2,372		0.72	%
Savings accounts		1,762,366		20,865		2.39	%		1,712,804		23,226		2.73	%
Money market accounts		2,188,482		27,577		2.54	%		2,051,542		31,474		3.09	%
Certificates of deposit		1,883,049		38,030		4.07	%		1,661,814		35,389		4.28	%
Brokered deposit accounts		757,687		17,649		4.70	%		927,465		24,144		5.23	%
Total interest-bearing deposits		7,224,676		106,160		2.96	%		7,019,257		116,605		3.34	%
Borrowings
Advances from the FHLB		955,669		22,269		4.63	%		1,107,071		27,527		4.92	%
Subordinated debentures and notes		84,363		3,419		8.11	%		84,223		2,752		6.54	%
Other borrowed funds		58,704		1,437		4.94	%		98,406		2,341		4.78	%
Total borrowings		1,098,736		27,125		4.91	%		1,289,700		32,620		5.00	%
Total interest-bearing liabilities		8,323,412		133,285		3.23	%		8,308,957		149,225		3.61	%
Non-interest-bearing liabilities:
Demand checking accounts		1,667,489							1,635,690
Other non-interest-bearing liabilities		238,169							289,351
Total liabilities		10,229,070							10,233,998
Stockholders’ equity		1,243,674							1,197,644
Total liabilities and equity	$	11,472,744						$	11,431,642
Net interest income (tax-equivalent basis) /Interest-rate spread (4)				175,550		2.48	%				162,030		2.18	%
Less adjustment of tax-exempt income				1,035							441
Net interest income			$	174,515						$	161,589
Net interest margin (5)						3.27	%						3.03	%

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
(2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
(3) Loans on nonaccrual status are included in the average balances.
(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets on an actual/actual basis.

BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Non-GAAP Financial Information (Unaudited)
	At and for the Three Months Ended March 31,						At and for the Six Months Ended June 30,
		2025			2024			2025			2024
Reconciliation Table – Non-GAAP Financial Information	(Dollars in Thousands Except Share Data)						(Dollars in Thousands Except Share Data)

Reported Pretax Income	$	29,594		$	21,645		$	55,076		$	41,124
Add:
Merger and restructuring expense		439			823			1,410			823
Operating Pretax Income	$	30,033		$	22,468		$	56,486		$	41,947
Effective tax rate		25.3	%		24.4	%		24.8	%		24.5	%
Provision for income taxes		7,590			5,473			14,008			10,289
Operating earnings after tax	$	22,443		$	16,995		$	42,478		$	31,658

Operating earnings per common share:
Basic	$	0.25		$	0.19		$	0.48		$	0.36
Diluted	$	0.25		$	0.19		$	0.47		$	0.35

Weighted average common shares outstanding during the period:
Basic		89,104,605			88,904,692			89,104,060			88,899,635
Diluted		89,612,781			89,222,315			89,590,267			89,201,912

Return on average assets *		0.77	%		0.57	%		0.72	%		0.54	%
Add:
Merger and restructuring expense (after-tax) *		0.01	%		0.02	%		0.02	%		0.01	%
Operating return on average assets *		0.78	%		0.59	%		0.74	%		0.55	%

Return on average tangible assets *		0.79	%		0.59	%		0.73	%		0.56	%
Add:
Merger and restructuring expense (after-tax) *		0.01	%		0.02	%		0.02	%		0.01	%
Operating return on average tangible assets *		0.80	%		0.61	%		0.75	%		0.57	%


Return on average stockholders’ equity *		7.04	%		5.49	%		6.61	%		5.18	%
Add:
Merger and restructuring expense (after-tax) *		0.10	%		0.21	%		0.17	%		0.10	%
Operating return on average stockholders’ equity *		7.14	%		5.70	%		6.78	%		5.28	%


Return on average tangible stockholders’ equity *		8.85	%		7.04	%		8.34	%		6.65	%
Add:
Merger and restructuring expense (after-tax) *		0.13	%		0.27	%		0.21	%		0.13	%
Operating return on average tangible stockholders’ equity *		8.98	%		7.31	%		8.55	%		6.78	%

* Ratios at and for the three months and six months ended are annualized.

	At and for the Three Months Ended
	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
	(Dollars in Thousands)

Net income, as reported	$	22,026		$	19,100		$	17,536		$	20,142		$	16,372

Average total assets	$	11,402,934		$	11,543,330		$	11,580,572		$	11,451,338		$	11,453,394
Less: Average goodwill and average identified intangible assets, net		256,508			257,941			259,496			261,188			262,859
Average tangible assets	$	11,146,426		$	11,285,389		$	11,321,076		$	11,190,150		$	11,190,535

Return on average tangible assets (annualized)		0.79	%		0.68	%		0.62	%		0.72	%		0.59	%

Average total stockholders’ equity	$	1,252,055		$	1,235,201		$	1,232,527		$	1,216,037		$	1,193,385
Less: Average goodwill and average identified intangible assets, net		256,508			257,941			259,496			261,188			262,859
Average tangible stockholders’ equity	$	995,547		$	977,260		$	973,031		$	954,849		$	930,526

Return on average tangible stockholders’ equity (annualized)		8.85	%		7.82	%		7.21	%		8.44	%		7.04	%

Total stockholders’ equity	$	1,254,171		$	1,240,182		$	1,221,939		$	1,230,362		$	1,198,480
Less:
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net		14,600			16,030			17,461			19,162			20,830
Tangible stockholders’ equity	$	998,349		$	982,930		$	963,256		$	969,978		$	936,428

Total assets	$	11,568,745		$	11,519,869		$	11,905,326		$	11,676,721		$	11,635,292
Less:
Goodwill		241,222			241,222			241,222			241,222			241,222
Identified intangible assets, net		14,600			16,030			17,461			19,162			20,830
Tangible assets	$	11,312,923		$	11,262,617		$	11,646,643		$	11,416,337		$	11,373,240

Tangible stockholders’ equity to tangible assets		8.82	%		8.73	%		8.27	%		8.50	%		8.23	%

Tangible stockholders’ equity	$	998,349		$	982,930		$	963,256		$	969,978		$	936,428

Number of common shares issued		96,998,075			96,998,075			96,998,075			96,998,075			96,998,075
Less:
Treasury shares		7,039,136			7,037,610			7,019,384			7,015,843			7,373,009
Unvested restricted shares		854,334			855,860			880,248			883,789			713,443
Number of common shares outstanding		89,104,605			89,104,605			89,098,443			89,098,443			88,911,623

Tangible book value per common share	$	11.20		$	11.03		$	10.81		$	10.89		$	10.53

PDF available: http://ml.globenewswire.com/Resource/Download/713b7b8a-a804-4b26-a467-f10b0d266b1b

The MIL Network –

July 24, 2025

MIL-OSI Banking: Verizon Delivers a one-two punch with Best Wireless Network Performance results:

Source: Verizon

Headline: Verizon Delivers a one-two punch with Best Wireless Network Performance results:

NEW YORK – Another day, another set of network victories for the wireless provider serving the most mobility and broadband customers in the U.S.¹ In back-to-back benchmarking reports, Verizon continues its award-winning momentum as J.D. Power – the global leader in consumer insights, advisory services and data and analytics – names Verizon America’s Most Awarded Brand for Network Quality, 35 times in a row in the J.D. Power 2025 U.S. Wireless Network Quality Study – Volume 2. Meanwhile, the industry-leading wireless provider dominates the 1H 2025 RootMetrics study, claiming top spots for Best 5G Network; Fastest 5G Network; and Most Reliable 5G Network.

“When you’re named the Most Awarded Brand for Network Quality, 35 Times in a Row by the gold standard for customer satisfaction and service quality ratings, it explains why more customers, businesses, sports leagues and everyone in between choose Verizon,” said Joe Russo, EVP & President, Global Network and Technology, Verizon. “This recognition just reinforces what we- and our customers- have always known: Verizon delivers unmatched quality, unwavering reliability and innovative connectivity that people count on whenever and wherever it matters most.”

Verizon’s latest recognition underscores its ongoing streak of industry leadership and network excellence. As 5G reshapes the wireless landscape, Verizon continues to set the standard with a durable, high-performing network that delivers for millions of customers nationwide. This momentum reflects the company’s relentless investment and forward-thinking strategy, ensuring that Verizon remains at the forefront of connectivity and innovation.

A true differentiator in the industry, Verizon stands apart through the depth and versatility of its network offerings, delivering exceptional value for customers, including:

Unmatched reliability and coverage: Verizon’s awarding-winning 5G and 4G LTE networks deliver coast-to-coast coverage, keeping customers connected in bustling cities and remote communities alike. The networks’ proven performance means fewer dropped calls and dependable service when it matters most and to complement Verizon’s industry leading network coverage, its satellite services remain free of charge to Verizon customers.
5G leadership that sets the pace: Verizon’s 5G Ultra Wideband continues to raise the bar, offering blazing-fast speeds and ultra-low latency for streaming, gaming and remote work. With dedicated mmWave and C-band spectrum now reaching more than 280 million people, and expanding.
Consistent speed, even in high-traffic moments: Verizon’s ongoing network investments enable fast, reliable connections—even in crowded stadiums, busy downtowns and during peak hours.
Powering innovation for critical sectors: From utilities and transportation to public safety, Verizon’s advanced network delivers secure, low-latency solutions that drive smart grid technology, IoT deployments and private networks. The Verizon Frontline Innovation Program continues to deliver next-generation tools for first responders and essential services.
Security at every level: Verizon prioritizes network security, employing robust measures to protect customer data and communications. This is especially important for government agencies and critical infrastructure, where advanced cybersecurity safeguards sensitive information.

Verizon keeps raising the bar for what’s possible in connectivity, powering experiences that make lives better. As the model of excellence for network quality and 5G performance, Verizon delivers exceptional value to its customers by combining its industry-leading network, compelling customer offerings, and AI-powered customer experience innovations that set a new standard for what customers can expect. The Verizon team isn’t just leading today– they are shaping the future of how people live, work and play.

MIL OSI Global Banks –

July 24, 2025

MIL-OSI USA: DLNR News Release – Enforcement Measures Increasing as Sacred Falls Remains Closed, July 22, 2025

Source: US State of Hawaii

DLNR News Release – Enforcement Measures Increasing as Sacred Falls Remains Closed, July 22, 2025

Posted on Jul 23, 2025 in Latest Department News, Newsroom

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

JOSH GREEN, M.D.
GOVERNOR

KE KIAʻĀINA

DEPARTMENT OF LAND AND NATURAL RESOURCES

KA ‘OIHANA KUMUWAIWAI ‘ĀINA

DAWN N.S. CHANG
CHAIRPERSON

ENFORCEMENT MEASURES INCREASING AS SACRED FALLS REMAINS CLOSED

FOR IMMEDIATE RELEASE

July 22, 2025

HONOLULU –Despite clearly posted park closure and hazardous conditions signs, people are continuing to ignore the risks and enter Sacred Falls State Park. The DLNR Division of Conservation and Resources Enforcement (DOCARE) recently received information and video of numerous young adults exiting the closed area by climbing over a locked gate.

A tragic rockslide claimed eight lives on Mother’s Day 1999 and the site has been off limits ever since. Even with numerous past press releases, clearly posted signs warning of dangerous conditions and numerous past incidents involving injuries, some people continue to gamble with their safety and their lives by entering Sacred Falls.

“How many times do we have to tell people to stop going into Sacred Falls?” asked DOCARE Chief Jason Redulla. “I have directed the Oahu Branch to take strong enforcement action on any closed area violations at Sacred Falls, including arresting violators,” he said. DOCARE is increasing patrols of the area.

“People who enter Sacred Falls are not only endangering themselves, they also endanger the safety of first responders if they get into trouble”, Redulla added. “This risk to our responders, including DOCARE officers is intolerable and violators who are found entering or exiting the closed area will be dealt with accordingly.”

Violations of the State Park administrative rule pertaining to entering a closed area is a petty misdemeanor. Potential penalties include a $1,000 fine or up to 30 days in jail.

# # #

RESOURCES

(All images/video courtesy: DLNR)

Video – Sacred Falls – Please Turn Back (May 17, 2020): https://vimeo.com/419650794

Video – Sacred Falls Enforcement (May 9, 2020): https://www.dropbox.com/scl/fi/li2qo1ld0ahqsl3txmunv/Sacred-Falls-Enforcement-May-9-2020.mov?rlkey=2i27lvmxbbm6h3hc2cenlw7t7&st=fiqrykir&dl=0

Photographs – Sacred Falls (May 9, 2020): https://www.dropbox.com/scl/fo/srxuqy3jbkiaxbo30lvhs/ALAdBu3h5abme5DIybkf5LE?rlkey=mafu00gary7g727d8bsn8rz6r&st=maarbiiw&dl=0

Media Contact:

Patti Jette

Communications Specialist

Hawai‘i Dept. of Land and Natural Resources

808-587-0396

[email protected]

MIL OSI USA News –

July 24, 2025

MIL-OSI USA: Following increased CHP operations, California sees 13% reduction in stolen vehicles statewide

Source: US State of California 2

Jul 23, 2025

What you need to know: The number of reported stolen vehicles in California has dropped by 13% – the first year-over-year decrease since before the pandemic.

Sacramento, California – California continues to lead the way out of the COVID-induced crime surge, as the number of vehicles stolen statewide has dropped by 13% from 2023 to 2024 – the first year-over-year decrease since 2019. Of those vehicles stolen, nearly 92% of cars, trucks and SUVs successfully recovered.

We continue to put the safety of California communities first. Through strategic funding and partnerships with local and state law enforcement partners, we are putting a brake on lawlessness and criminals disrupting our way of life.

Governor Gavin Newsom

Of the stolen vehicles in California, nearly 94% cars and 90% personal trucks and SUVs were recovered.

Significant regional investment by the state

Through expanded regional efforts with the California Highway Patrol and local law enforcement agencies, Governor Newsom sought to strengthen efforts to fight vehicle theft through crime suppression operations in key areas, including Oakland, Bakersfield and San Bernardino. These ongoing regional operations have shown positive results throughout the broader communities in Alameda, Kern and San Bernardino counties. Working closely with local law enforcement agencies, auto thieves, repeat offenders and organized crime groups have been disrupted, and their activities have been thwarted.

As a result of these public safety collaborations, each of these counties saw a significant drop in vehicle thefts in 2024:

Alameda: down 18% from 2023
Kern: down 28% from 2023
San Bernardino: down 11% from 2023

Other notable drops by county in stolen vehicles from 2023 includes:

Imperial: down 13%
Orange: down 16%
Riverside: down 24%
Sacramento: down 23%
San Diego: down 11%
San Francisco: down 17%
Santa Barbara: down 29%
Tulare: down 22%
Yolo: down 24%

“We are proud to see fewer vehicles being stolen across the state,” said CHP Commissioner Sean Duryee. “The CHP and our law enforcement partners are working hard every day to stop these crimes, protect California’s communities and hold criminals responsible.”

Automobiles are a vital part of daily life for work, school and family. When a vehicle is stolen, it impacts more than just property—it can take away a person’s freedom and sense of security. View the 2024 report on stolen vehicles and their recoveries here.

Stronger enforcement. Serious penalties. Real consequences.

California has invested $1.6 billion since 2019 to fight crime, help local governments hire more police, and improve public safety. In 2023, as part of California’s Public Safety Plan, the Governor announced the largest-ever investment to combat organized retail crime in state history, an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety.

Last August, Governor Newsom signed into law the most significant bipartisan legislation to crack down on property crime in modern California history. Building on the state’s robust laws and record public safety funding, these bipartisan bills offer new tools to bolster ongoing efforts to hold criminals accountable for smash-and-grab robberies, property crime, retail theft, and auto burglaries. While California’s crime rate remains at near historic lows, these laws help California adapt to evolving criminal tactics to ensure perpetrators are effectively held accountable.

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MIL OSI USA News –

July 24, 2025

MIL-OSI: Bitcoin Swift Launches First Presale Stage as Demand Surges for $15 Launch Price

Source: GlobeNewswire (MIL-OSI)

LUXEMBOURG, July 23, 2025 (GLOBE NEWSWIRE) — The crypto space is no stranger to presale hype. But few launches have stirred excitement quite like Bitcoin Swift’s. With its initial stage priced at just $1 and a launch target of $15, the protocol has already begun attracting attention from investors looking for more than just speculation. What sets Bitcoin Swift apart isn’t just the price trajectory. It’s the blend of privacy, programmable rewards, and dual-layer consensus that has institutions and early adopters racing to get in.

Consensus, Efficiency, and Real Yield in One Framework

At its core, Bitcoin Swift combines the best of proven blockchain mechanisms with forward-thinking upgrades. The network operates on a hybrid Proof-of-Work and Proof-of-Stake model. PoW secures the system and mints new blocks, while PoS finalizes state changes and handles decentralized identity checkpoints. This dual structure helps BTC3 deliver scalable security while enabling faster decision-making through validator participation.

But the highlight for miners and holders is the Proof-of-Yield model. It goes beyond standard emissions and instead evaluates real-time metrics like energy efficiency and miner contribution. A federated set of AI oracles handles the data intake. These agents monitor energy use, carbon impact, and governance participation to ensure that BTC3’s emissions aren’t just distributed, but earned. The system adjusts over time, responding to real-world performance and keeping rewards aligned with actual contribution. This approach stands out in an era where static reward models often fail to incentivize long-term sustainability.

Stage One Price Action and Earning Structure

Bitcoin Swift (BTC3) kicked off its presale with a strategy designed to reward action, not hesitation. Stage 1 buyers secured BTC3 at $1.00, locking in not only the lowest entry point but eligibility for early programmable mining rewards. Stage 2 will see the price increase to $2.00, with the full launch pegged at $15.00. Stage 1 current APY is 143%. This presale is gaining momentum fast because it isn’t just about buying tokens. Rewards begin distributing at the end of each presale stage, not after the token launches. It’s a system built to reward conviction, not just timing. With only 61 days until completion and ten rapidly climbing stages, the window for entry is brief and shrinking.

Smart Contracts with Embedded AI

Bitcoin Swift integrates AI deep within its architecture. WASM smart contracts are equipped with learning agents that adapt over time, making financial applications more responsive and dynamic. Governance benefits from AI too, with proposals pre-screened for risk before going to a community vote.

Key AI and governance features of BTC3:

AI agents within WASM smart contracts that adapt to user behavior
AI-assisted proposal screening for governance decisions
Quadratic voting weighted by decentralized ID reputation
Prevents vote capture and reinforces trust in system upgrades
Audited by Spywolf and Solidproof and KYC verified for security and reliability

Community interest is growing quickly for Bitcoin Swift, with Crypto Vlog explaining how BTC3 is pushing blockchain innovation beyond traditional models.

BTC3U and Compliance-Grade Privacy

Bitcoin Swift introduces BTC3U, a USD-pegged stablecoin fully backed by locked BTC3 tokens. The smart contracts maintain a collateral ratio above 150%, with liquidation triggers governed by AI oracles. The stablecoin is designed for privacy-first applications, protected by zero-knowledge audits and zk-transfer systems. Meanwhile, user identities are verified via zk-SNARKs and decentralized ID infrastructure. This setup enables institutions to verify compliance while preserving user anonymity, a key feature for widespread adoption.

Security, Migration, and Deployment Timeline

The current presale deployment runs on Solana for fast and low-cost access, but Bitcoin Swift plans to migrate to its blockchain in 2026 with a 1:1 trustless bridge. That’s when the protocol’s full features, including shielded ledgers and zk-based governance modules, will go live. According to the roadmap, this year will see rewards and AI engines begin operating, followed by private DeFi tools and governance in early 2026. You can follow development updates via the official Telegram.

Bitcoin vs Bitcoin Swift: A Utility Shift

Feature	Bitcoin	Bitcoin Swift (BTC3)
Consensus	Proof-of-Work	Hybrid PoW + PoS with AI-enhanced governance
Privacy	Public ledger	zk-SNARK layer and shielded transfers
Smart Contracts	Not supported	WASM-based with learning agents
Mining	Static block reward	Programmable Proof-of-Yield linked to real metrics
Governance	Non-existent	Decentralized, DID-based quadratic voting
Stablecoin	None	BTC3U, backed by BTC3 with AI-monitored overcollateralization

Final Thoughts

Bitcoin Swift is positioning itself as more than just a new blockchain. It’s a programmable, AI-driven protocol that introduces real utility to every stakeholder, whether they are miners, stakers, or builders. With one of the shortest presale timelines in the market and a $15 launch price driving urgency, the next few weeks may shape the future of how its is done.

For more information on Bitcoin Swift:
Website: https://bitcoinswift.com

Contact:
Luc Schaus
support@bitcoinswift.com

Disclaimer: This content is provided by Bitcoin Swift. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/636933ed-6abb-486e-9c1a-2ec60a05d4b1

https://www.globenewswire.com/NewsRoom/AttachmentNg/57405136-1ff8-4af0-a184-ab3ae1b9c946

https://www.globenewswire.com/NewsRoom/AttachmentNg/59cb3476-03d0-4e7e-b2a2-aa1b15b52a38

The MIL Network –

July 24, 2025

MIL-OSI USA: California predeploys resources in Nevada, Plumas, and Sierra counties ahead of critical fire weather conditions

Source: US State of California Governor

Jul 23, 2025

SACRAMENTO – Governor Gavin Newsom today approved the predeployment of firefighting resources in Nevada, Sierra, and Plumas counties in response to critical fire weather conditions forecasted to impact Northern California starting Wednesday, July 23, through Friday, July 25, 2025.

“The state is again taking proactive measures to protect communities ahead of dangerous fire weather conditions. I ask the residents of Nevada, Plumas, and Sierra counties to pay attention to local authorities and be prepared to evacuate if told to go.”

Governor Gavin Newsom

A total of 14 fire engines, four water tenders, and two dispatchers are prepositioned in Nevada, Sierra and Plumas County. These efforts ensure that resources are ready to respond quickly, minimizing the potential impact of new fires. This proactive approach has proven to be a critical component of California’s wildfire response strategy, reducing response times and containing fires before they escalate into major incidents.

Today’s announcement follows the recent prepositioning of resources in Plumas and Sierra counties from July 20 to July 22.

Residents are urged to stay vigilant during this heightened fire weather period. The California Governor’s Office of Emergency Services (Cal OES) reminds the public to:

For more information on fire safety and preparedness, visit News.CalOES.ca.gov and Ready.ca.gov.

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July 24, 2025

MIL-OSI USA: Governor Newsom announces local progress in reducing homelessness

Source: US State of California Governor

Jul 23, 2025

What you need to know: Through Governor Newsom’s support of local government efforts and state investments, California is reversing decades of inaction on homelessness. Last year’s 2024 point-in-time count showed California had outperformed the nation by slowing down the increase in homelessness and California is continuing to show signs of progress as preliminary data for 2025 points to a decrease in homelessness in local communities.

SACRAMENTO — Building on the administration’s efforts to reverse decades of inaction on housing and homelessness, Governor Newsom today announced continued signs of progress in California. In 2024, California outperformed the nation in slowing down the increase in homelessness. Last year, while the nation’s unsheltered homelessness increased by nearly 7%, California’s remained nearly flat, increasing by only 0.45%. With new preliminary 2025 point-in-time reporting from some of the state’s largest communities, California is seeing ongoing progress and reductions in homelessness in many communities.

“No one in our nation should be without a place to call home. I am proud of the work we are doing together to reverse this decades-old crisis. Together, we are turning the tide on homelessness, but we have more work to do. We have a moral obligation to assist every single Californian in need and that means ensuring that everyone has a roof over their head.”

Governor Gavin Newsom

Communities reporting reduced homelessness

Each year local governments conduct point-in-time counts in January with final numbers reported in December. While the preliminary data reported by communities has not yet been verified by the U.S. Department of Housing and Urban Development, initial reporting by locals is encouraging.

Communities across California are beginning to see a substantial decrease in the unsheltered homelessness numbers, indicating a strong trend that people experiencing homelessness are accepting shelter, programs, services and housing, in part as a result of unprecedented state investments. California communities are making good progress in getting people off the streets and out of encampments and connecting them with the care they need.

For example, the city of San Diego saw a 3.9% decrease in unsheltered homelessness and total homelessness down 13.5%. The county of Riverside reported a 19% decrease in unsheltered homelessness.

In the Los Angeles region, unsheltered homelessness has dropped for two years in a row. Preliminary data for 2025 shows that Los Angeles county is expected to report that total homelessness went down by 4%, with unsheltered homelessness reducing by 9.5%. The city of Los Angeles reported that its total homelessness also decreased by 3.4% and unsheltered homelessness went down by 7.9%.

Continuums of care serving regional jurisdictions also reported promising news. In San Bernardino county, total homelessness dropped 10.2%, and San Diego county’s total homeless population dropped by 7%. The Bakersfield region also saw a decrease, reducing the number of people experiencing homelessness by 2.3%.

Reversing a decades-in-the-making crisis

The Newsom administration is making significant progress in reversing decades of inaction on homelessness. Between 2014 and 2019—before Governor Newsom took office—unsheltered homelessness in California rose by approximately 37,000 people. Since then, under this Administration, California has significantly slowed that growth, even as many other states have seen worsening trends.

In 2024, while homelessness increased nationally by over 18%, California limited its overall increase to just 3% — a lower rate than in 40 other states. The state also held the growth of unsheltered homelessness to just 0.45%, compared to a national increase of nearly 7%. States like Florida, Texas, New York, and Illinois saw larger increases both in percentage and absolute numbers. California also achieved the nation’s largest reduction in veteran homelessness and made meaningful progress in reducing youth homelessness.

New strategies that work

Since taking office in 2019, Governor Newsom has created unprecedented policy and structural changes in state government to help California better address its housing and homelessness crises, including additional and unprecedented support for local governments, stronger accountability and enforcement, transformational changes to mental health services and state government, and groundbreaking reforms.

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July 24, 2025

MIL-OSI USA: Sen. Markey Urges AI Companies to Reject Trump’s Unconstitutional “Anti-Woke” AI Actions

US Senate News:

Source: United States Senator for Massachusetts Ed Markey

Markey says Trump’s AI Action Plan and Executive Order are “factually baseless and patently unconstitutional”

Set of Letters (PDF)

Washington (July 23,2025) – Senator Edward J. Markey (D-Mass.), a member of the Commerce, Science, and Transportation Committee, today sent letters to the chief executive officers of Alphabet, Anthropic, Meta, Microsoft, OpenAI, and xAI, slamming Trump’s AI Action Plan and executive order that prohibits federal agencies from contracting for any artificial intelligence (AI) algorithm that is not “free from top-down ideological bias.”

In his letters, Senator Markey pointed out the double standard of Republicans complaining about biased AI chatbots even when Grok, the chatbot developed by Elon Musk’s AI company, acknowledged that it was trained to “appeal to the right.” Senator Markey urged the AI companies to fight this unconstitutional executive order and not become pawns in Trump’s effort to eliminate dissent in the United States.

Senator Markey writes, “In their broad claims about censorship by the tech platforms, Republicans continue to mistake fact-based outcomes for bias against conservatives. Although the right continues to lean heavily on anecdotal examples of Big Tech’s alignment with liberal viewpoints, it ignores even more egregious evidence to the contrary. For example, on May 1, 2025, Grok — the AI chatbot developed by xAI, Elon Musk’s AI company—acknowledged that ‘xAI tried to train me to appeal to the right.’ If OpenAI’s ChatGPT or Google’s Gemini had responded that it was trained to appeal to the left, congressional Republicans would have been outraged and opened an investigation. Instead, they were silent.”

Senator Markey continues, “Even if the claims of bias were accurate, the Republicans’ effort to use their political power — both through the executive branch and through congressional investigations — to modify the platforms’ speech is dangerous and unconstitutional. Through the AI executive order, Republicans are using state power to pressure private companies to adopt certain political viewpoints, in this case by pressuring the Big Tech companies to ensure that responses from AI chatbots meet some unspecified, vague definition of ideological neutrality. The details and implementation plan for this executive order remain unclear but it will create significant financial incentives for the Big Tech companies — many of whom have multi-million or multi-billion-dollar contracts with the federal government — to ensure their AI chatbots do not produce speech that would upset the Trump administration. This type of interference with private speech is precisely why the U.S. Constitution has a First Amendment.”

MIL OSI USA News –

July 24, 2025

MIL-OSI: QFSCOIN Launches the Most Profitable Platform for Yielding Crypto in 2025, Designed for Global Investors to Earn BTC, LTC, and DOGE coin

Source: GlobeNewswire (MIL-OSI)

New York City, NY, July 23, 2025 (GLOBE NEWSWIRE) — Dogecoin (DOGE) is making headlines again, this time, not just for memes and social media hype. Recent on-chain data reveals that whales, the largest investors in the market, are quietly accumulating DOGE. If you want to catch this wave, QFSCOIN offers a seamless solution. With QFSCOIN, users can generate returns from Dogecoin, Bitcoin, and Litecoin directly, without needing any hardware. Daily payouts are automated, and it’s never been easier to start building your crypto income.

What On-Chain Data Tells Us About Dogecoin Whales
In crypto markets, whales, large holders of a particular coin, often signal future price movement. Blockchain analytics indicate that whale activity surrounding Dogecoin has steadily increased in recent weeks. These major investors have continued expanding their holdings, suggesting strong confidence in DOGE’s long-term potential.
When large accumulations occur, it often points to upcoming demand spikes or positive catalysts. This behavior can reduce supply and elevate prices, giving early participants an edge before broader market awareness sets in.

Why Earn Dogecoin with QFSCOIN Right Now?
Instead of purchasing DOGE at elevated prices, earning it through QFSCOIN provides a cost-effective and scalable alternative. Since 2019, QFSCOIN, founded in the U.S., has become a leading platform for automated crypto income. It operates secure data centers across the U.S., Canada, Norway, and Iceland, leveraging state-of-the-art technology for performance and efficiency.
QFSCOIN is fully regulated by U.S. financial authorities, offering peace of mind to users worldwide.

What Makes QFSCOIN Stand Out?

Multi-Coin Support: Generate returns from Bitcoin, Dogecoin, and Litecoin to diversify your crypto holdings.
Free Starter Plan: New users receive a $30 bonus and can activate a free 1-day plan immediately.
Daily Rewards: Automated payouts are credited to your account every 24 hours.
No Equipment Needed: No expensive gear, maintenance, or technical setup.
AI-Driven Optimization: Smart algorithms enhance performance and manage risk effectively.
Top-Tier Security: SSL encryption and DDoS protection keep your data and funds secure.
24/7 Support: Friendly assistance is available anytime.
Referral Program: Earn up to 3% commission by inviting others.

Flexible Crypto Earning Plans for All Investors
QFSCOIN offers a wide selection of plans tailored to different investment levels. Here’s a quick overview:

Plan Value	Duration	Total Return	Interest Rate
$30 (Free Bonus)	1 Day	$30 + $0.90	3.00%
$100	2 Days	$100 + $5	2.50%
$300	2 Days	$300 + $19.20	3.20%
$1,200	3 Days	$1,200 + $144	4.00%
$3,500	3 Days	$3,500 + $630	6.00%
$10,000	6 Days	$10,000 + $5,400	9.00%

These plans make crypto income accessible to everyone, from cautious beginners to experienced investors. With daily payouts and compounding potential, you can grow your portfolio quickly as DOGE gains traction.

Why You Should Start Now
When whales accumulate, demand rises, and so do costs. Earning DOGE may become less efficient or more expensive in the near future. QFSCOIN removes common barriers like electricity bills, cooling systems, or device failures. However, as market demand increases, so might plan rates or difficulty levels. Starting now allows you to secure current pricing and benefit from any upcoming price momentum.

How to Get Started with QFSCOIN
Step 1: Choose a Trusted Platform
QFSCOIN is known for its simple interface, full regulation, and accessible approach. No technical knowledge is needed.
Step 2: Sign Up
Register on the QFSCOIN website with your email. New users receive a $30 bonus to activate their first plan, no setup required.
Step 3: Select a Plan
Choose the one that fits your budget. You can begin with the free starter or upgrade to premium plans for higher returns.
Step 4: Start Earning
Once your plan is active, your DOGE balance grows with automatic daily payouts.

Final Thoughts
With whale activity accelerating, Dogecoin could be headed for its next surge. Rather than chasing high prices, QFSCOIN offers a smarter path—earn DOGE passively through a secure, user-friendly, and fully automated platform.
Whether you’re targeting DOGE, BTC, or LTC, QFSCOIN’s combination of strong regulation, advanced AI optimization, and flexible plans makes it the top crypto earning solution in 2025.

Don’t wait for the next rally, position yourself now with QFSCOIN.
Website: https://qfscoin.com
Twitter: https://x.com/qfscoin
YouTube: https://www.youtube.com/@qfscoin
Email: info@qfscoin.com

Attachment

The MIL Network –

July 24, 2025

MIL-OSI Africa: HSRC to host free training academy to equip researchers for AI

Source: Government of South Africa

HSRC to host free training academy to equip researchers for AI

The Human Sciences Research Council (HSRC), in collaboration with the University of Pretoria, the University of Zululand and Sol Plaatje University, will host the 6th Annual Emerging and Established African Researcher Training Academy from 28 July to 1 August 2025.

The event will be held virtually and will run daily from 8:30am to 4pm.

This year’s academy is themed, ‘Research excellence reimagined: Preparing tomorrow’s scholars today‘, reflecting the growing influence of artificial intelligence (AI) on the research landscape.

“As AI increasingly transforms how research is designed, conducted, analysed, and communicated, the academy will explore how African scholars can engage with these changes while strengthening foundational research skills,” the statement read.

The key focus of the academy is to equip participants with essential competencies in research design, data analysis, and academic writing, while also introducing tools and techniques that integrate AI into the research process.

According to the HSRC, participants will examine important questions, such as how to preserve intellectual authenticity while harnessing AI’s transformative capabilities; where computational efficiency ends and human wisdom begins; and how to develop research skills that remain valuable as AI capabilities expand.

The academy was first launched as an in-person training programme in partnership with the University of Zululand.

However, due to the COVID-19 pandemic in 2020, it transitioned into a virtual format, allowing for broader participation and collaboration across institutions.

“Now celebrating its sixth year in this format, the academy continues to evolve by offering both foundational and advanced modules that respond to the changing demands of the research community.”

In line with its responsibilities to the Department of Science, Technology and Innovation (DSTI), the HSRC said it supports capacity building in research and research management, and ensures inclusive access to training for marginalised groups.

This includes women and persons with disabilities and promotes a culture of lifelong learning among African scholars.

According to the chairperson of the academy’s organising committee, the HSRC’s Dr Bongiwe Mncwango, the academy aims to foster a collaborative and sustainable research environment, bringing together emerging and established scholars to share ideas, develop research skills, and pursue collaborative initiatives.

“The programme also supports career development for early-career researchers and raises awareness about the value of research in addressing Africa’s societal challenges.

“It is more than training – it’s a strategic investment in the future of African research. As AI revolutionises scholarship, African researchers must be equipped to lead with innovation, integrity, and impact,” said Mncwango.

Registration information and programme details are available on the HSRC’s website https://hsrc.ac.za/sixth-annual-emerging-and-established-african-researchers-training-academy-2025-2026/. – SAnews.gov.za

Gabisile
Wed, 07/23/2025 – 10:33

MIL OSI Africa –

July 24, 2025

MIL-OSI: eToro to Announce Product Updates in Global Webinar on July 29, 2025

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — eToro Group Ltd. (“eToro”, or the “Company”) (NASDAQ: ETOR), the trading and investing platform, announced today it will host a webinar on Tuesday, July 29, 2025 at 10AM ET / 3PM BST / 4PM CET.

Hosted by eToro’s Co-founder and CEO, Yoni Assia, the webinar ‘eToro Unlocked: Trade Without Boundaries’ will showcase the latest evolutions in eToro’s product offering and unveil details of what is coming next for users of the global trading and investing platform.

To hear more about Yoni’s vision and the details of these product updates live, you can register here to join the webinar.

For the latest on eToro, follow us @eToro.

About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center here for our latest news.

Contact
Media Relations – pr@etoro.com
Investor Relations – investors@etoro.com

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is a group of companies that are authorised and regulated in their respective jurisdictions. The regulatory authorities overseeing eToro include:

The Financial Conduct Authority (FCA) in the UK
The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
The Australian Securities and Investments Commission (ASIC) in Australia
The Financial Services Authority (FSA) in the Seychelles
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) in the UAE

Source: eToro Group Ltd.

The MIL Network –

July 24, 2025

MIL-OSI Banking: Understanding what AI means to consumers

Source: Microsoft

Headline: Understanding what AI means to consumers

When we talk about new AI-powered devices and experiences, the focus often lands on the pace of technological progress. But just as quickly, the way people are using these tools—and how they feel about them—is evolving too.

To better understand that shifting sentiment, we commissioned new consumer AI research that digs deeper into people’s priorities and perceptions. Going beyond usage data, we examined the emotional undercurrents: what excites people about AI, what gives them pause and how those attitudes shift across generations.

What emerged is a more textured view of consumer behavior. In this report, you’ll find insights that add greater dimension to what meaningful AI solutions look like today.

The full report is available for download here.

From burnout to breakthrough: Americans use AI to move forward

This consumer AI report examines evolving attitudes toward AI. It presents findings from research conducted by an independent research firm, Edelman Data & Intelligence, among 1,000 consumers in the United States ages 13 and older between March 14, 2025 and March 25, 2025. As both AI tools and human behaviors continue to shift, the report offers a research-backed lens for business leaders, organizations, and curious individuals seeking to understand what’s changing and why. 

Can AI help an overloaded generation cut through the noise?

These days, we have a lot on our minds.

We’re living in an era where information has never been so available. Entire histories of societies, bodies of scholarship, and even the details of our own relationships can be pulled up with a single search. But instead of helping us get ahead, it often just adds more noise. Traditional authority has fractured and everywhere we turn, new voices and platforms compete for our attention. In fact, 7 in 10 consumers admit they are overwhelmed by the amount of information available when making a decision.

So it’s no surprise that we’re starting to question not just our choices, but how we make them. This is where AI offers a new way forward: our research finds that it counteracts decision fatigue by lightening the mental burden of weighing one’s options. After using AI when making a decision, 84% percent of people report experiencing positive emotion.

Majority experience a positive emotion after using AI to make a decision: Eighty-four percent of people felt a positive emotion after using AI when making a decision, with relief and confidence being the two most common.

Introducing Generation AI

Leading the way is Generation AI, born between 1995 and 2012. Raised on increasingly intuitive digital tools, they’ve learned how to embrace emerging technologies as a support system rather than merely a shortcut—from PCs and mobile devices, to the internet, and now AI. This generation is 16% more likely to use AI tools than those who are older, and when they do, they’re finding more than answers. They’re unlocking a greater sense of relief and confidence, a result that users of all ages can learn from.

AI interrupts overthinking, before the spiral starts

AI’s mainstream moment comes at a critical time for this generation’s mental health.

Generation AI is carrying a compound burden made up of the ambient weight of everyday social pressures, persistent economic uncertainty, digital isolation, and the long tail of a global pandemic. Seventy-two percent of those aged 18-34 rate mental health as a significant stressor, the highest among all age cohorts.

With estimates suggesting that the average person can face thousands of choices each day, this mental load is unrelenting. It’s the kind of weight that turns indecision into inaction, leading people to abandon choices that once felt important.

Even once we are finally able to make up our minds, it rarely feels like closure. Sixty-eight percent of Generation AI would describe themselves as an “overthinker,” someone who spends a lot of time worrying about their decisions, even after making them. Would-be relief is clouded by doubt, a lingering sense that maybe we missed something better, smarter, or more optimized.

But data shows that AI offers overthinkers a different outcome. Across all age groups, respondents were more than twice as likely to feel relieved (30%) or confident (30%) compared to anxious (14%) or frustrated (14%) after using generative AI to make a personal decision.

This confidence boost applies to a range of relatable scenarios. Many find support for things they are passionate about, involving AI in decisions around entertainment (34%) or travel (25%). For others, AI proves helpful in moving through more emotionally fraught territory, such as money decisions (35%), health and wellness (35%), and career or job considerations (34%).

AI helps make decisions in diverse scenarios: Generative AI helps users make decisions in the following areas: money (35%), health and wellness (35%), career or job (34%), entertainment (34%), and travel (25%).

Instead of dwelling on these decisions interminably, every prompt becomes a quiet practice in turning uncertainty into action.

Creating a safe space for deeper, more helpful answers

We are now getting a glimpse into a tech-powered future that is more intuitive, personal, and judgment-free. AI reflects consumers’ curiosity back to them in a way few tools have before. When they need help making a decision, a third of respondents (33%) say they appreciate that AI gives them a clear, personalized response.

Getting the right advice has always depended on the gatekeepers of the moment. In the past, information was limited by which experts or institutions one had access to. Even the internet, once seen as the great equalizer, has its limits. The search engines that Generation AI grew up using may have put pages and pages of web results at their fingertips, but they stopped short at turning that data into something truly actionable. This has left 67% of this age group feeling like it is still “hard to find guidance or suggestions that fit my exact situation” when gathering information to answer a question or make a decision.

Now, they have somewhere else to turn; a conversational advisor that can match their thirst for knowledge with specificity, flexibility, and patience. When asked about using generative AI for advice, all respondents cite a sense of emotional delicacy, noting how “I can ask as many follow-up questions as I want without feeling bad” (81%) and “AI doesn’t judge me like a person would” (78%).

This change in our relationship with information also changes how we learn. Recent research on AI usage found that students aged 18 and older used it more than any other employment group, with 85% reporting usage. Generation AI students are now more likely to rank AI as a helpful study aid (45%) than books (36%) or a one-on-one tutor (27%).

The way AI users describe themselves tells us more about their mindset. Those who use AI to make decisions are more likely to say they are “ambitious” (+20ppts), “decisive” (+15ppts), and “problem solvers” (+10 ppts) compared to those who don’t use it. These labels signal how AI might intersect with a generation’s sense of self.

AI users describe themselves differently: People who use AI to make decisions are more likely to describe themselves as a problem solver (+10ppts), ambitious (+20ppts), and decisive (+16ppts).

While each individual interaction might feel small, these micro-moments of support can foster trust in both the technology itself and in the user’s own ability to choose.

Hopeful but not naïve, Generation AI brings discernment to AI asks

This isn’t the first time Generation AI has lived through a major technological shift, and it won’t be the last. As true digital natives, they approach any new tool with nuance, carefully weighing the promised benefits against potential tradeoffs.

When it comes to AI, 66% of this generation is optimistic that it will improve our lives and the world we live in. While only 15% of all consumers say they fully trust AI when making important decisions, 95% have still used a generative AI tool in the past month—suggesting that people are finding meaningful, appropriate ways to engage with these tools. Rather than blind trust, this is thoughtful adoption: users are integrating AI into their broader decision-making process in ways that feel supportive and safe.

Also in the mix? Friends, family, experts, and professionals. But most of all, their own judgment: 59% of consumers trust their gut when making a decision.

Trust varies across sources when making important decisions: When making an important decision, 15% trust AI—less than their own gut (59%), advice from friends or family (44%), or web search results (37%), the same as teachers (15%), and more than social media influencers (11%) or political leaders (7%).

Call it curiosity, caution, or a carefully balanced blend of both. While 59% of all respondents used generative AI for work and business purposes in the past year, even more have explored how it might fit into their personal lives. Sixty-four percent report using AI for hobbies and personal interests, such as art music, or DIY projects.

AI can help sort through today’s information overload until one’s instincts take over. It summarizes information so that it is easier to understand (34% of use cases), shows different options that users hadn’t thought about (31%), and compares choices by showing pros and cons (30%).

Turning to AI in these everyday moments builds a rhythm of trust—measured, useful, and often accompanied by a sense of relief. With just enough structure to help people make sense of pressing considerations, these tools make confident decision-making possible.

In a world that often feels like too much, AI offers something rare: relief

Our research shows that American consumers are taking the emotional edge off decision-making by bolstering their own judgement with AI-powered tools that offer clarity, curiosity, and calm.

AI reshapes what it feels like to choose. The “before”—that data-gathering phase—is shorter, more streamlined. Information is delivered clearly, without overload or judgment. The “after” feels different too, marked by reassurance instead of regret. Instead of spiraling over making the right call, individuals experience a sturdy sense of confidence.

The proof is in the practice: using these tools as Generation AI does, for everyday decisions both big and small, changes what’s possible. Over time, it builds the kind of momentum that moves people through uncertainty, not just around it. And when faced with the daily thrum of decisions, it helps them trust themselves enough to move forward.

MIL OSI Global Banks –

July 24, 2025

MIL-OSI: Aptean Launches GenAI Query in AppCentral

Source: GlobeNewswire (MIL-OSI)

ATLANTA, July 23, 2025 (GLOBE NEWSWIRE) — Aptean, a global provider of enterprise software, today announced the launch of GenAI Query, a mobile-first conversational intelligence feature within AppCentral, its AI-powered platform. Purpose-built to deliver real-time insights from complex business data, GenAI Query eliminates the need for dashboards, technical expertise, or delays.

GenAI Query empowers frontline managers; operations leads and finance teams to ask natural-language questions like:

“Where are my fulfilment bottlenecks?”

“Which SKUs are eroding our margin?”

They receive real-time answers, right when and where decisions are made. GenAI Query cuts through reporting delays and streamlines decision-making across every level of the organization.

Modern manufacturing and distribution teams operate under relentless pressure to move fast — yet decision-making is often stalled by complex reports, fragmented systems and manual analysis. Buried in complex reports, fragmented systems and manual analysis, information remains out of reach. The result? A widening gap between data and decisive action.

GenAI Query is the intelligence engine of AppCentral and a cornerstone of the Aptean Intelligence Suite. What sets it apart is Aptean’s deep industry expertise and its ability to deliver tailored insights across discrete manufacturing, food and beverage, finance, transportation and apparel. With seamless integration and enterprise-grade security features – such as role-based access and audit trails – GenAI Query accelerates data-driven decision-making without compromising control.

GenAI Query transforms enterprise decision-making by:

Unlocking insights – Replacing static dashboards with real-time conversational intelligence
Revealing hidden risks – Surfacing margin pressure, customer churn signals and operational inefficiencies through AI
Accelerating action – Empowering teams to explore data freely, without IT delays or report rebuilds
Bringing data together – Unifying live ERP inputs across inventory, purchasing, sales, receivables and payables.
Eliminating reporting delays – Removing the complexity of data extraction and interpretation.

“AppCentral is the foundation for our customers to harness the power of AI – GenAI Query is the intelligence that brings it to life,” said TVN Reddy, CEO of Aptean. “It’s the difference between staring at a dashboard and having a direct, insightful conversation with your business. Customers don’t just want data – they need clear answers that drive better outcomes. GenAI Query puts real-time enterprise intelligence at their fingertips.”

“GenAI Query makes business data instantly useful,” Reddy continued. “Ask a simple question like ‘What’s my inventory risk this week?’ and get contextual insight drawn straight from live systems. No coding. No delay. Just answers – delivered precisely when and where they’re needed. With GenAI Query, every employee becomes an insight-driven decision-maker. The future of enterprise intelligence is immediate and conversational.”

With thousands of customers now onboarded to AppCentral, Aptean is accelerating scalable AI adoption – giving customers the clarity, speed and control they need to make faster, smarter decisions.

About Aptean:
Aptean is a global provider of industry-specific software that helps manufacturers and distributors effectively run and grow their businesses. Aptean’s solutions and services help businesses of all sizes to be Ready for What’s Next, Now®. Aptean is headquartered in Alpharetta, Georgia and has offices in North America, Europe and Asia-Pacific. To learn more about Aptean and the markets we serve, visit www.aptean.com.

Logility is a Registered Trademark of Logility, Inc. Aptean and Ready for What’s Next, Now are Registered Trademarks of Aptean, Inc. All other company and product names are trademarks of the respective companies with which they are associated.

MEDIA INQUIRIES

MediaRelations@Aptean.com

A PDF accompanying this announcement is available at

http://ml.globenewswire.com/Resource/Download/db5e0b9b-d38b-46df-b8ef-d3510e489c71

A video accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/d3fed0b1-f5af-4512-aece-05b54b639787

The MIL Network –

July 24, 2025

MIL-OSI United Nations: 23 July 2025 Departmental update First-ever guidance for Triple Elimination of mother-to-child transmission of HIV, syphilis and hepatitis B

Source: World Health Organisation

The global community has committed to the Triple Elimination of mother-to-child transmission (EMTCT) of HIV, syphilis and hepatitis B virus (HBV) as a public health priority. This global commitment encourages countries to provide the most effective, high-quality and person-centred care available to pregnant and breastfeeding women and girls. In so doing, countries aim to ensure a generation born free of HIV, syphilis and HBV.

At the 13th International AIDS Society (IAS) Conference on HIV Science held in Kigali, Rwanda, from 13-17 July 2025, WHO presented the first-ever guidance for countries to develop comprehensive and integrated programmes for Triple Elimination.

The new guidance is based on the WHO Triple Elimination Framework, which promotes an integrated, person-centred approach to preventing transmission of these infections from mothers to their infants along 4 pillars and 4 cross-cutting implementation considerations. The guidance also outlines a comprehensive strategy for governments, health-care providers and relevant stakeholders to assess, improve and scale-up elimination programmes.

“The release of this new guidance marks a critical milestone in our collective efforts to end mother-to-child transmission of HIV, syphilis and hepatitis B virus,” said Dr Meg Doherty, Director of WHO’s Global HIV, Hepatitis and Sexually Transmitted Infections Programmes. “It comes at a time when integrated approaches to maternal and child health are needed more than ever to ensure achievement of global targets by 2030 and safeguard the health of future generations.”

Country case studies are presented to illustrate some good practices and to offer models to inform development of country roadmaps for eliminating vertical transmission by 2030.

Country examples and lessons for Triple Elimination

Kenya began its triple elimination journey in 2018 by designating a focal team leading to the development of a framework for the EMTCT of HIV, syphilis and HBV in 2022–2023 and establishment of a dedicated Triple Elimination Technical Working Group in 2024. Oversight and operationalization are decentralized to county and sub-county levels for capacity-building and supervision. Representatives of people living with HIV are engaged in advocacy, community sensitization and participation in the development and validation of the national triple elimination framework for 2022-2027.

Kenya offers a range of EMTCT services and documents best practices, relating to the mentoring of mothers, creation and management of peer support groups, dual HIV/syphilis testing and more. The country is working toward introducing a universal HBV birth dose, integrating syphilis and hepatitis B into the MNCH electronic medical record module, diagnosing infants early and addressing commodity shortages.

Namibia expanded the 2020 dual HIV/syphilis elimination strategy to include hepatitis B into a triple elimination strategy in 2023. A situational analysis and stakeholder consultation informed its 2020–2024 roadmap. The country developed an operational plan, updated guidelines, and integrated triple elimination into training and health information systems.

In 2023, WHO awarded Namibia at the bronze tier for the Path to Elimination of MTCT of HIV. Namibia is also the first and only country to be awarded on the Path to Elimination of MTCT of hepatitis B virus at the silver tier.

To learn more about the experiences in Kenya and Namibia, see Country Case Examples in Chapter 6.

MIL OSI United Nations News –

July 24, 2025

MIL-OSI USA: Warner, Kaine, and Colleagues Press FAA on Federal Workforce Cuts and Use of AI on Aviation Safety

US Senate News:

Source: United States Senator for Commonwealth of Virginia Mark R Warner

WASHINGTON – U.S. Senators Mark R. Warner and Tim Kaine (both D-VA) joined Senator Edward J. Markey (D-MA) and nine of their Senate colleagues in sending a letter to Federal Aviation Administration (FAA) Administrator Bryan Bedford requesting answers on the impact of FAA workforce reductions on aviation safety, including among analytical staff who proactively identify safety risks. The senators also inquired about comments by FAA officials suggesting the agency is using artificial intelligence (AI) to analyze safety data to identify risks.

“The tragic crash of American Airlines flight 5342 highlighted serious gaps in our aviation safety system and demonstrated the need for a robust and experienced analytical workforce at the Federal Aviation Administration (FAA). Unfortunately, over the past six months, your agency has significantly reduced its workforce. We are deeply concerned about these reductions’ impact on aviation safety,” the lawmakers wrote.

“The National Transportation Safety Board (NTSB) investigation into the crash of American Airlines flight 5342 has demonstrated the need for a robust FAA workforce, beyond the air traffic controllers and other FAA personnel on the front lines of our aviation system. According to the NTSB investigation, more than 15,000 ‘close proximity events’ occurred at Ronald Reagan Washington National Airport over the last five years—reflecting a shockingly high trend that the FAA should have identified…It’s critical that this Administration ensures the FAA has the workforce capacity to proactively and properly analyze aviation safety data to prevent another crash like the American Airlines flight 5342 tragedy,” the senators continued.

“In the aftermath of the crash, the FAA should be analyzing the near miss data from events at Reagan National Airport and reviewing the sufficiency of FAA staffing. Instead, the agency has moved ahead with workforce reductions. In particular, FAA fired hundreds of probationary employees in critical support roles key to assisting air traffic controllers in doing their jobs,” the lawmakers wrote.

The lawmakers requested the following information by August 11, 2025:

For each FAA line of business and its relevant suboffices, please provide the (a) number of employees employed as of January 1, 2025, (b) number of employees employed as of July 1, 2025, and (c) the current number of job openings.
For each FAA line of business and its relevant suboffices, please indicate whether any of its job positions are currently subject to a hiring freeze as of January 20, 2025.
Please provide the analysis conducted by the Office of Airports related to the impact of workforce cuts on its safety mission.
Besides the Office of Airports, please explain if any other FAA line of business has conducted an analysis of the impact of workforce cuts on its ability to deliver its mission. If so, please provide those analyses.
Please explain all relevant FAA lines of business and relevant suboffices charged with identifying aviation safety trends and possible safety risks affecting airport operations in congested airspace.
What specific AI tools is the FAA using to analyze aviation safety impacts and flight data and how is this improving FAA’s analysis? Does the FAA have adequate staff, familiar with these tools, to manage this analysis and ensure the security of the data used and generated by AI?

In addition to Warner, Kaine, and Markey, the letter was cosigned by Senators Angela Alsobrooks (D-MD), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Mazie Hirono (D-HI), Jeff Merkley (D-OR), Bernie Sanders (I-VT), Chris Van Hollen (D-MD), Elizabeth Warren (D-MA), and Peter Welch (D-VT).

Warner and Kaine have long championed aviation safety and spoken out against federal workforce reductions at the FAA and other agencies. Following the January 29, 2025 collision between an Army Black Hawk helicopter and American Airlines flight 5342 near Ronald Reagan Washington National Airport (DCA), Warner and Kaine demanded answers from the FAA on additional safety measures to protect the public and expressed concerns about the impact of the “Department of Government Efficiency” in addressing issues that led to the mid-air collision. The senators also introduced legislation to strengthen aviation safety. Kaine, a member of the Senate Armed Services Committee, successfully got a provision included in the committee-passed Fiscal Year 2026 National Defense Authorization Act to require that all Department of Defense aircraft that operate near commercial airports be equipped with broadcast positioning technology. Earlier this year, Kaine invited Jason King, a veteran from Fairfax who was fired from his position in the FAA’s safety division, as his guest to the State of the Union address. King was rehired after the State of the Union.

Full text of the letter is available here and below:

Dear Administrator Bedford,

The tragic crash of American Airlines flight 5342 highlighted serious gaps in our aviation safety system and demonstrated the need for a robust and experienced analytical workforce at the Federal Aviation Administration (FAA). Unfortunately, over the past six months, your agency has significantly reduced its workforce. We are deeply concerned about these reductions’ impact on aviation safety. We therefore write to request information on changes in the FAA workforce and their impact on aviation safety, including any analyses that the FAA has conducted on the effects of workforce reductions on the agency’s safety mission.

The National Transportation Safety Board (NTSB) investigation into the crash of American Airlines flight 5342 has demonstrated the need for a robust FAA workforce, beyond the air traffic controllers and other FAA personnel on the front lines of our aviation system. According to the NTSB investigation, more than 15,000 “close proximity events” occurred at Ronald Reagan Washington National Airport over the last five years — reflecting a shockingly high trend that the FAA should have identified. At a Senate Commerce Committee hearing in March, the then-Acting FAA Administrator Chris Rocheleau acknowledged that the agency missed this warning sign, in part because of the sheer volume of data that FAA personnel must analyze. The Acting Administrator’s testimony illustrated the need for an FAA workforce robust and experienced enough to analyze all relevant data and identify safety risks. It’s critical that this Administration ensures the FAA has the workforce capacity to proactively and properly analyze aviation safety data to prevent another crash like the American Airlines flight 5342 tragedy.

Despite this clear need for enhanced analytical capacity, the FAA has instead moved to reduce its workforce during this critical period. In the aftermath of the crash, the FAA should be analyzing the near miss data from events at Reagan National Airport and reviewing the sufficiency of FAA staffing. Instead, the agency has moved ahead with workforce reductions. In particular, FAA fired hundreds of probationary employees in critical support roles key to assisting air traffic controllers in doing their jobs. With the Department of Transportation (DOT) pushing personnel to leave via two rounds of the Deferred Resignation Program — under which employees could elect to resign and receive pay until September 2025 — coupled with the federal hiring freeze, federal officials are leaving their jobs and it may be difficult for the FAA to attract new, qualified employees. Although the DOT assured Senators that key FAA safety staff were exempt from firings and the Deferred Resignation Program, the FAA has still not clarified whether it has the staff it needs to ensure the safety of the American public. Estimates from the DOT suggest that between 1,000 and 3,000 employees may leave the agency once the Deferred Resignation Program offers are finalized. According to an internal presentation to FAA management: “Employees are departing the agency in mass quantities across all skill levels.” Most recently, the Department of Transportation may now be able to move ahead with a large Reduction in Force after the Supreme Court’s recent ruling allowing federal agencies to move forward with staffing cuts consistent with existing federal law. This moment — after a tragic crash highlighted critical gaps in aviation safety — seems like precisely the wrong time for the FAA to aggressively shrink its workforce.

Moreover, the FAA’s recent announcement that it is using artificial intelligence (AI) to analyze its data — without explaining whether such AI tools are reliable or effective — provides little reassurance to the public. While we support the use of technology to improve how aviation safety data is used, the decision to rely on technological fixes while simultaneously moving ahead with staffing reductions is deeply worrisome. The FAA has not been transparent with Congress about the types of technology it is now using, whether those technologies are replacing, augmenting, or otherwise impacting the FAA workforce, or whether it requires human review of AI analyses before using any analysis in a safety-related decision. This reliance on technological fixes — without a transparent analysis of the FAA’s workforce levels and capacity— raises questions about the FAA’s commitment to prioritizing safety.

If the FAA lacks the staff to identify safety risks before future incidents occur, Congress must be informed of this as soon as possible. At a recent Senate Commerce Committee hearing, Senators questioned FAA officials from the Office of Airports, the Office of Aviation Safety, and the Air Traffic Organization about the personnel reductions at their respective offices and whether their offices had conducted any analysis on the impact of these workforce cuts on aviation safety. Only the head of the FAA Office of Airports — which is charged with planning and developing a safe and efficient national airport system — responded that his Office had conducted such an analysis. Senators urged the FAA to turn over that analysis to the Committee, along with data on any workforce reductions, but to date it has not. It is essential that Congress have sufficient information to understand the impact of recent FAA personnel changes on aviation safety.

To better understand the impact of FAA workforce reductions on aviation safety, please provide written responses to the following questions and requests for information by August 11, 2025:

For each FAA line of business and its relevant suboffices, please provide the (a) number of employees employed as of January 1, 2025, (b) number of employees employed as of July 1, 2025, and (c) the current number of job openings.
For each FAA line of business and its relevant suboffices, please indicate whether any of its job positions are currently subject to a hiring freeze as of January 20, 2025.
Please provide the analysis conducted by the Office of Airports related to the impact of workforce cuts on its safety mission.
Besides the Office of Airports, please explain if any other FAA line of business has conducted an analysis of the impact of workforce cuts on its ability to deliver its mission. If so, please provide those analyses.
Please explain all relevant FAA lines of business and relevant suboffices charged with identifying aviation safety trends and possible safety risks affecting airport operations in congested airspace.
What specific AI tools is the FAA using to analyze aviation safety impacts and flight data and how is this improving FAA’s analysis?
1. Does the FAA have adequate staff, familiar with these tools, to manage this analysis and ensure the security of the data used and generated by AI?
2. How were these AI tools selected? Please describe the specific testing or evaluation conducted in advance of the implementation of the tools and provide a copy of any reports or conclusions produced. If no testing or evaluation occurred, please explain why not.

Thank you in advance for your attention to this matter.

Sincerely,

MIL OSI USA News –

July 24, 2025

MIL-OSI: Music Licensing, Inc. (OTC: SONG) Enters Retainer Agreement with PCAOB-Registered Audit Firm for Review of Semi-Annual 2025 Financial Statements

Source: GlobeNewswire (MIL-OSI)

NAPLES, FL, July 23, 2025 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, a diversified holding company and the fifth public performance rights organization (PRO) established in the United States, today announced that it has officially executed a retainer agreement with a Public Company Accounting Oversight Board (PCAOB)-registered audit firm. The agreement covers the review of the Company’s semi-annual financial statements for the period ending June 30, 2025.

This engagement represents a critical milestone in the Company’s broader plan to adopt and maintain PCAOB-compliant financial reporting standards. It reflects a long-term commitment to enhancing transparency, supporting regulatory compliance, and upholding best practices in financial governance.

The formal retention of a PCAOB-registered firm follows the Company’s July 2, 2025 announcement regarding its intention to pursue annual audits and periodic reviews of financial statements. With the agreement now in place, the Company expects to proceed with the independent review process and release its semi-annual 2025 financials accordingly.

The initiative is designed to strengthen the integrity of the Company’s financial disclosures, build investor confidence, and support current and future capital markets activities.

Music Licensing, Inc. licenses music to leading platforms and businesses globally, including TikTok, iHeartMedia, Triller, Napster, 7Digital, and Vevo. The Company holds an estimated 7.4% share of the U.S. public performance rights market and administers a catalog of over 2.5 million musical works. This includes works by high-profile recording artists as well as content generated through artificial intelligence (AI) platforms.

The Company also maintains royalty interests in Listerine “Mouthwash” Antiseptic and in a large portfolio of musical works performed by internationally recognized artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Rihanna, Lil Nas X, and others.

This step positions the Company for continued operational growth, improved transparency, and future scalability in line with public company reporting standards.

About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)

About Music Licensing, Inc. (OTC:SONG) (ProMusicRights.com)

Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) established in the United States. It is recognized under the federal registry of the United States government. The company licenses music to some of the most prominent platforms and businesses, including TikTok, iHeartMedia, Triller, Napster, 7Digital, Vevo, and many others.

Pro Music Rights holds an estimated 7.4% market share in the United States, representing a catalog of more than 2.5 million works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and many others, including works generated by artificial intelligence (AI).

Additionally, Music Licensing, Inc. (OTC: SONG) holds royalty interests in Listerine “Mouthwash” Antiseptic and a vast portfolio of musical works by globally renowned artists, including The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, BlueFace, The Game, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and many others.

Forward-Looking Statements:

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

Non-Legal Advice Disclosure:

This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

Non-Investment Advice Disclosure:

This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication

Contact: investors@ProMusicRights.com

SOURCE: Music Licensing, Inc

The MIL Network –

July 24, 2025

MIL-OSI USA: Warner, Kaine, & Colleagues Press FAA on Federal Workforce Cuts and Use of AI on Aviation Safety

US Senate News:

Source: United States Senator for Virginia Tim Kaine
WASHINGTON, D.C. – U.S. Senators Mark R. Warner and Tim Kaine (both D-VA) joined Senator Edward J. Markey (D-MA) and nine of their Senate colleagues in sending a letter to Federal Aviation Administration (FAA) Administrator Bryan Bedford requesting answers on the impact of FAA workforce reductions on aviation safety, including among analytical staff who proactively identify safety risks. The senators also inquired about comments by FAA officials suggesting the agency is using artificial intelligence (AI) to analyze safety data to identify risks.
“The tragic crash of American Airlines flight 5342 highlighted serious gaps in our aviation safety system and demonstrated the need for a robust and experienced analytical workforce at the Federal Aviation Administration (FAA). Unfortunately, over the past six months, your agency has significantly reduced its workforce. We are deeply concerned about these reductions’ impact on aviation safety,” the lawmakers wrote.
“The National Transportation Safety Board (NTSB) investigation into the crash of American Airlines flight 5342 has demonstrated the need for a robust FAA workforce, beyond the air traffic controllers and other FAA personnel on the front lines of our aviation system. According to the NTSB investigation, more than 15,000 ‘close proximity events’ occurred at Ronald Reagan Washington National Airport over the last five years—reflecting a shockingly high trend that the FAA should have identified…It’s critical that this Administration ensures the FAA has the workforce capacity to proactively and properly analyze aviation safety data to prevent another crash like the American Airlines flight 5342 tragedy,” the senators continued.
“In the aftermath of the crash, the FAA should be analyzing the near miss data from events at Reagan National Airport and reviewing the sufficiency of FAA staffing. Instead, the agency has moved ahead with workforce reductions. In particular, FAA fired hundreds of probationary employees in critical support roles key to assisting air traffic controllers in doing their jobs,” the lawmakers wrote.
The lawmakers requested the following information by August 11, 2025:
For each FAA line of business and its relevant suboffices, please provide the (a) number of employees employed as of January 1, 2025, (b) number of employees employed as of July 1, 2025, and (c) the current number of job openings.
For each FAA line of business and its relevant suboffices, please indicate whether any of its job positions are currently subject to a hiring freeze as of January 20, 2025.
Please provide the analysis conducted by the Office of Airports related to the impact of workforce cuts on its safety mission.
Besides the Office of Airports, please explain if any other FAA line of business has conducted an analysis of the impact of workforce cuts on its ability to deliver its mission. If so, please provide those analyses.
Please explain all relevant FAA lines of business and relevant suboffices charged with identifying aviation safety trends and possible safety risks affecting airport operations in congested airspace.
What specific AI tools is the FAA using to analyze aviation safety impacts and flight data and how is this improving FAA’s analysis? Does the FAA have adequate staff, familiar with these tools, to manage this analysis and ensure the security of the data used and generated by AI?
In addition to Warner, Kaine, and Markey, the letter was cosigned by Senators Angela Alsobrooks (D-MD), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Mazie Hirono (D-HI), Jeff Merkley (D-OR), Bernie Sanders (I-VT), Chris Van Hollen (D-MD), Elizabeth Warren (D-MA), and Peter Welch (D-VT).
Warner and Kaine have long championed aviation safety and spoken out against federal workforce reductions at the FAA and other agencies. Following the January 29, 2025 collision between an Army Black Hawk helicopter and American Airlines flight 5342 near Ronald Reagan Washington National Airport (DCA), Warner and Kaine demanded answers from the FAA on additional safety measures to protect the public and expressed concerns about the impact of the “Department of Government Efficiency” in addressing issues that led to the mid-air collision. The senators also introduced legislation to strengthen aviation safety. Kaine, a member of the Senate Armed Services Committee, successfully got a provision included in the committee-passed Fiscal Year 2026 National Defense Authorization Act to require that all Department of Defense aircraft that operate near commercial airports be equipped with broadcast positioning technology. Earlier this year, Kaine invited Jason King, a veteran from Fairfax who was fired from his position in the FAA’s safety division, as his guest to the State of the Union address. King was rehired after the State of the Union.
Full text of the letter is available here and below:
Dear Administrator Bedford,
The tragic crash of American Airlines flight 5342 highlighted serious gaps in our aviation safety system and demonstrated the need for a robust and experienced analytical workforce at the Federal Aviation Administration (FAA). Unfortunately, over the past six months, your agency has significantly reduced its workforce. We are deeply concerned about these reductions’ impact on aviation safety. We therefore write to request information on changes in the FAA workforce and their impact on aviation safety, including any analyses that the FAA has conducted on the effects of workforce reductions on the agency’s safety mission.
The National Transportation Safety Board (NTSB) investigation into the crash of American Airlines flight 5342 has demonstrated the need for a robust FAA workforce, beyond the air traffic controllers and other FAA personnel on the front lines of our aviation system. According to the NTSB investigation, more than 15,000 “close proximity events” occurred at Ronald Reagan Washington National Airport over the last five years — reflecting a shockingly high trend that the FAA should have identified. At a Senate Commerce Committee hearing in March, the then-Acting FAA Administrator Chris Rocheleau acknowledged that the agency missed this warning sign, in part because of the sheer volume of data that FAA personnel must analyze. The Acting Administrator’s testimony illustrated the need for an FAA workforce robust and experienced enough to analyze all relevant data and identify safety risks. It’s critical that this Administration ensures the FAA has the workforce capacity to proactively and properly analyze aviation safety data to prevent another crash like the American Airlines flight 5342 tragedy.
Despite this clear need for enhanced analytical capacity, the FAA has instead moved to reduce its workforce during this critical period. In the aftermath of the crash, the FAA should be analyzing the near miss data from events at Reagan National Airport and reviewing the sufficiency of FAA staffing. Instead, the agency has moved ahead with workforce reductions. In particular, FAA fired hundreds of probationary employees in critical support roles key to assisting air traffic controllers in doing their jobs. With the Department of Transportation (DOT) pushing personnel to leave via two rounds of the Deferred Resignation Program — under which employees could elect to resign and receive pay until September 2025 — coupled with the federal hiring freeze, federal officials are leaving their jobs and it may be difficult for the FAA to attract new, qualified employees. Although the DOT assured Senators that key FAA safety staff were exempt from firings and the Deferred Resignation Program, the FAA has still not clarified whether it has the staff it needs to ensure the safety of the American public. Estimates from the DOT suggest that between 1,000 and 3,000 employees may leave the agency once the Deferred Resignation Program offers are finalized. According to an internal presentation to FAA management: “Employees are departing the agency in mass quantities across all skill levels.” Most recently, the Department of Transportation may now be able to move ahead with a large Reduction in Force after the Supreme Court’s recent ruling allowing federal agencies to move forward with staffing cuts consistent with existing federal law. This moment — after a tragic crash highlighted critical gaps in aviation safety — seems like precisely the wrong time for the FAA to aggressively shrink its workforce.
Moreover, the FAA’s recent announcement that it is using artificial intelligence (AI) to analyze its data — without explaining whether such AI tools are reliable or effective — provides little reassurance to the public. While we support the use of technology to improve how aviation safety data is used, the decision to rely on technological fixes while simultaneously moving ahead with staffing reductions is deeply worrisome. The FAA has not been transparent with Congress about the types of technology it is now using, whether those technologies are replacing, augmenting, or otherwise impacting the FAA workforce, or whether it requires human review of AI analyses before using any analysis in a safety-related decision. This reliance on technological fixes — without a transparent analysis of the FAA’s workforce levels and capacity— raises questions about the FAA’s commitment to prioritizing safety.
If the FAA lacks the staff to identify safety risks before future incidents occur, Congress must be informed of this as soon as possible. At a recent Senate Commerce Committee hearing, Senators questioned FAA officials from the Office of Airports, the Office of Aviation Safety, and the Air Traffic Organization about the personnel reductions at their respective offices and whether their offices had conducted any analysis on the impact of these workforce cuts on aviation safety. Only the head of the FAA Office of Airports — which is charged with planning and developing a safe and efficient national airport system — responded that his Office had conducted such an analysis. Senators urged the FAA to turn over that analysis to the Committee, along with data on any workforce reductions, but to date it has not. It is essential that Congress have sufficient information to understand the impact of recent FAA personnel changes on aviation safety.
To better understand the impact of FAA workforce reductions on aviation safety, please provide written responses to the following questions and requests for information by August 11, 2025:
For each FAA line of business and its relevant suboffices, please provide the (a) number of employees employed as of January 1, 2025, (b) number of employees employed as of July 1, 2025, and (c) the current number of job openings.
For each FAA line of business and its relevant suboffices, please indicate whether any of its job positions are currently subject to a hiring freeze as of January 20, 2025.
Please provide the analysis conducted by the Office of Airports related to the impact of workforce cuts on its safety mission.
Besides the Office of Airports, please explain if any other FAA line of business has conducted an analysis of the impact of workforce cuts on its ability to deliver its mission. If so, please provide those analyses.
Please explain all relevant FAA lines of business and relevant suboffices charged with identifying aviation safety trends and possible safety risks affecting airport operations in congested airspace.
What specific AI tools is the FAA using to analyze aviation safety impacts and flight data and how is this improving FAA’s analysis?
Does the FAA have adequate staff, familiar with these tools, to manage this analysis and ensure the security of the data used and generated by AI?
How were these AI tools selected? Please describe the specific testing or evaluation conducted in advance of the implementation of the tools and provide a copy of any reports or conclusions produced. If no testing or evaluation occurred, please explain why not.

Thank you in advance for your attention to this matter.
Sincerely,

MIL OSI USA News –

July 24, 2025

MIL-OSI: Subsea7 awarded substantial contract

Source: GlobeNewswire (MIL-OSI)

Luxembourg – 23 July 2025 – Subsea7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial⁽¹⁾ contract.

The project involves the engineering and offshore installation of flexible pipe, umbilicals, subsea equipment and a mooring system.

Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations expected to start in 2027.

No additional details will be provided at this time.

(1) Subsea7 defines a substantial contract as being between $150 million and $300 million.

*******************************************************************************
Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

*******************************************************************************

Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com

Contact for media enquiries:
Ashley Shearer
Communications Manager
Tel +1-713-300-6792
ashley.shearer@subsea7.com

Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 23 July 2025 at 18:20 CET.

Attachment

SUBC Houston

The MIL Network –

July 24, 2025

MIL-OSI Africa: Merck Foundation Chief Executive Officer (CEO) Meets Mauritius Minister of Gender Equality & Family Welfare to Launch “Educating Linda” Program, Supporting Education of 20 Deserving yet Underprivileged Mauritian Schoolgirls Girls Until Graduation

Source: APO

During the visit to the country, Merck Foundation CEO also met the Mauritius President to share the impact of their 100 Scholarships for Mauritian Doctors in partnership with Ministry of Health.
Dr. Rasha Kelej during her meeting with the Mauritius President, strengthened partnership to improve access to innovative and equitable healthcare and Empower Women in STEM.
Senator Dr. Rasha Kelej also met the Mauritius Minister of Gender Equality & Family Welfare to share the impact of their programs to address critical social issues like supporting girl education and Ending Gender Based Violence in the country.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation (www.Merck-Foundation.com), the philanthropic arm of Merck KGaA Germany met Hon’ble Ms. Marie Arianne Navarre-Marie, Minister of Gender Equality and Family Welfare during a high-level meeting, to share the impact of their programs and underscore their long-term commitment to address critical social issues in Mauritius.

During her visit, she also met H.E. MR. DHARAMBEER GOKHOOL, The President of Republic of Mauritius, to share the impact of their 100 Scholarships for Mauritian Doctors in partnership with Ministry of Health and underscore their long-term commitment to transform public healthcare in Mauritius.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation and President of “More Than a Mother” Campaign emphasized, “It was a great honor to meet Hon’ble Ms. Marie Arianne Navarre-Marie, Minister of Gender Equality and Family Welfare and share with her the impact of our partnership and programs since 2017 that aim to transform patient care, build healthcare and media capacity, to empower women in STEM, support girl education and raise awareness about social and health issues in Mauritius and the rest of Africa.

I am very happy to share that together with the Ministry of Gender Equality and Family Welfare, we are launching our Educating Linda Program in the country, as a part of which we will be supporting the education of 20 high performing yet underprivileged Mauritian schoolgirls, till they graduate. Through this, we will be empowering them to complete their studies and reach their full potential.”

Merck Foundation has provided 100 scholarships for Mauritian doctors in 44 critical and under-served specialties.

“During my meeting with H.E. MR. DHARAMBEER GOKHOOL, The President of Republic of Mauritius, we also discussed the possibility of providing specialized training for Mauritian doctors in innovative and emerging fields such as Stem Cell Therapy in pathology, CAR T-cell treatment, AI in Radiology, Radiotherapy and Medical Oncology, Robotic Surgical Oncology, Neurology, Nephrology, Urology, and Neurosurgery. We are strongly committed to work closely with Ministry of Health to improve access to innovative and equitable healthcare solutions”, added Dr. Kelej.

The 100 scholarships for local Mauritian Doctors have been provided for One-Year PG Diploma and Two-year Master Degrees in many critical specialties including Fertility, Embryology, Sexual & Reproductive Care, Oncology, Preventative Cardiovascular, Diabetes, Endocrinology, Acute Medicine, Respiratory, Gastroenterology, Dermatology, Neuroimaging for Research, Sexual & Reproductive Care, Clinical Microbiology and infectious diseases, Internal Medicine, Pediatric Emergency Medicine, Ophthalmology, Laparoscopic Surgical Skills, Critical Care, Neonatal Medicine, Psychiatry, Family Medicine, Advanced Cytopathology and many more.

Merck Foundation has so far provided more than 2280 scholarships for young doctors from 52 countries in 44 critical and underserved specialties, with many of them becoming the first specialists in their countries.

During her visit, Merck Foundation CEO also met the Senior Officials from the Office of Hon’ble Minister of Health, Mauritius.

Merck Foundation also conducted the 4^th Edition of their Health Media Training for the Mauritian Media Representatives in partnership with Ministry of Gender Equality and Family Welfare, Mauritius. The training session was conducted to emphasize on the important role that media plays to influence society to create a cultural shift with the aim to address wide range of social and health issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, Stopping GBV, Diabetes and Hypertension awareness. It was co-chaired by Merck Foundation CEO and Minister of Gender Equality and Family Welfare, Mauritius.

During the training session, the Call for Application for 8 important Merck Foundation Awards were announced for Media, Musicians, Fashion Designers, Filmmakers, students, and new potential talents in these fields.

The award announced are:

Merck Foundation Africa Media Recognition Awards “More Than a Mother” 2025, in partnership with Media Trust Board, Mauritius: Media representatives and media students are invited to showcase their work to raise awareness about one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30^th September 2025.

Merck Foundation Fashion Awards “More Than a Mother” 2025, in partnership with Academy of Design and Innovation, Mauritius: All African Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to raise awareness about one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30^th September 2025.

Merck Foundation Film Awards “More Than a Mother” 2025: All African Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to address one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30^th September 2025.

Merck Foundation Song Awards “More Than a Mother” 2025: All African Singers and Musical Artists are invited to create and share a SONG with the aim to address one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30^th September 2025.

Merck Foundation Media Recognition Awards 2025 “Diabetes & Hypertension”, in partnership with Media Trust Board, Mauritius: Media representatives are invited to showcase their work through strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30^th October 2025.

Merck Foundation Fashion Awards 2025 “Diabetes & Hypertension”, in partnership with Academy of Design and Innovation, Mauritius: All African Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30^th October 2025.

Merck Foundation Film Awards 2025 “Diabetes & Hypertension: All African Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to promote a healthy lifestyle raise awareness about prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30^th October 2025.

Merck Foundation Song Awards 2025 “Diabetes & Hypertension”: All African Singers and Musical Artists are invited to create and share a SONG with the aim to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30^th October 2025.

Entries for the above awards can be submitted to us at:

submit@merck-foundation.com

For information on the above awards, please visit our website:

www.Merck-Foundation.com

Distributed by APO Group on behalf of Merck Foundation.

Contact:
Mehak Handa
Community Awareness Program Manager
Phone: +91 9310087613/ +91 9319606669
Email: mehak.handa@external.merckgroup.com

Join the conversation on our social media platforms below and let your voice be heard!
Facebook: https://apo-opa.co/3GZAB8c
X: https://apo-opa.co/46Yc51M
YouTube: https://apo-opa.co/450kdfL
Instagram: https://apo-opa.co/41aw4Xg
Threads: https://apo-opa.co/4m1Sj9O
Flickr: https://apo-opa.co/4o4qNdO
Website: www.Merck-Foundation.com
Download Merck Foundation App: https://apo-opa.co/4nYOCDX

About Merck Foundation:
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality & equitable healthcare solutions in underserved communities, building healthcare & scientific research capacity, empowering girls in education and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.Merck-Foundation.com to read more. Follow the social media of Merck Foundation: Facebook (https://apo-opa.co/3GZAB8c), X (https://apo-opa.co/46Yc51M), Instagram (https://apo-opa.co/41aw4Xg), YouTube (https://apo-opa.co/450kdfL), Threads (https://apo-opa.co/4m1Sj9O) and Flickr (https://apo-opa.co/4o4qNdO).

The Merck Foundation is dedicated to improving social and health outcomes for communities in need. While it collaborates with various partners, including governments to achieve its humanitarian goals, the foundation remains strictly neutral in political matters. It does not engage in or support any political activities, elections, or regimes, focusing solely on its mission to elevate humanity and enhance well-being while maintaining a strict non-political stance in all of its endeavors.

Media files

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MIL OSI Africa –

July 24, 2025

MIL-OSI: Hybrid Software Group: 2025 Interim Report

Source: GlobeNewswire (MIL-OSI)

PRESS RELEASE – REGULATED INFORMATION

HYBRID SOFTWARE GROUP: 2025 INTERIM REPORT

Cambridge (UK), 23 July 2025 (18.00 CEST): Hybrid Software Group PLC (Euronext: HYSG) announces it has published its half year report and unaudited condensed consolidated interim financial statements for the six months ended 30 June 2025.

The full document is available to download from the financial reports section of the Company’s web site at https://hybridsoftware.com/investors/financial-reports.

Mike Rottenborn, Hybrid Software Group CEO comments, “Hybrid Software Group delivered a solid performance in the first half of 2025, with all three reporting segments in line with our budget for revenue and operating profit at mid-year.

Beginning with the Printing Software segment, we have repeatedly mentioned that 2024 opened with €3.3 million in revenue from the renewal of a large OEM contract in Japan. With no similar renewal in Q1 of 2025, our figures looked weak compared to 2024. This has normalised in Q2 with the launch of Mako Apex, a new variant of our Mako software that supports Graphics Processing Units (GPUs) to render complex graphics much faster than Central Processing Units (CPUs). This allows our OEM customers to increase the performance of their software while reducing the total computing cost, and sales of Mako Apex are driving new contracts in Q2 and beyond. In addition, OEM royalties from the sale of digital presses which incorporate the Harlequin RIP and/or SmartDFE, our patented AI-optimised Digital Front End software, continue to build.

Moving to the Printhead Solutions segment, the good results from Q1 continued in the second quarter. Business in China remains strong, but we also see significant growth in Europe and North America and a reduced dependence on sales to our largest customer in China. Sales continue to grow in the additive manufacturing (3D printing) space, where inkjet plays a significant role. The chip shortage is over: manufacturing costs are under control and margins have improved significantly. We continue to introduce new printhead drivers for our customers and have an exciting development pipeline which bodes well for the future prospects in this segment.

The Enterprise Software segment continues to perform well. In comparing our first half figures to last year, it is important to remember that the largest trade fair for the printing industry, Drupa, took place in May and June of 2024. Hybrid Software closed a lot of business during Drupa but that left the sales pipeline relatively weak in the third quarter, and we did not see a recovery until October of last year. The current situation is much better. Enterprise Software sales increased more than 7% in the first half of 2025 and the pipeline looks promising as we enter Q3. Our BrandZ business continues to grow as a supplier of software solutions to brands and CPGs while supplying complementary software to the printers and trade shops which also service these brands.”

Financial highlights (unaudited)

For the six months ended 30 June
In thousands of euros	2025 (unaudited)	2024 (unaudited)
Revenue	26,592	26,922
Operating profit	2,210	2,344
Profit before tax	1,415	1,870
Tax credit	223	281
Profit for the period	1,638	2,151

EBITDA from continuing operations	5,431	6,483

Adjusted operating profit	3,953	4,383
Adjusted net profit	3,189	3,998

Cash and cash equivalents	11,159	8,041
Loans & borrowings	(4,400)	(6,900)
Net cash	6,759	1,141

About Hybrid Software Group
Through its operating subsidiaries, Hybrid Software Group PLC (Euronext: HYSG) is a leading developer of software and electronics for labels & packaging and industrial print manufacturing. Customers include press manufacturers such as HP, Canon, Durst, Roland, and hundreds of packaging printers, trade shops, and converters worldwide.

Hybrid Software Group PLC is headquartered in Cambridge UK. Its subsidiary companies are colour technology experts ColorLogic, printing software developers Global Graphics Software, enterprise software developer HYBRID Software, 3D design and modelling software developers iC3D, the industrial printhead driver solutions specialists Meteor Inkjet, and pre-press workflow developer Xitron.

Contacts

Attachment

2025-07-23 Interim report announcement – Final

The MIL Network –

July 24, 2025

MIL-OSI USA: Hearing Wrap Up: Congress Must Act to Advance Nuclear Energy

Source: United States House of Representatives – Representative Eric Burlison (R-Missouri 7th District)

WASHINGTON—The Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs today held a hearing titled “The New Atomic Age: Advancing America’s Energy Future.” During the hearing, members heard from witnesses about the advent of small and micro modular nuclear reactors and how their development and deployment will advance the use of safe, clean and reliable nuclear energy in the United States. Members emphasized the importance of expanding nuclear energy because of its efficiency and low cost compared to other energy sources.

Click here to watch the hearing.

Key Takeaways:

Small and micro modular reactors (SMRs and MMRs) promise to redefine the future of U.S. electricity generation through increases in safe, affordable and accessible nuclear energy. Government overregulation, however, has been holding back the development and deployment of these reactors.

Alex Epstein, President and Founder of the Center for Industrial Progress, stated in his opening testimony that “Whenever we talk about abundant nuclear energy, including SMRs, we need to recognize that the first step is for government to stop doing the immense harm it’s actively doing. And this harm is harm that probably gutted nuclear’s potential for decades. It’s important to recognize that in the 70s, clean, safe nuclear power – and it was very safe, it was the safest form of energy in history, even back then, -became affordable and it quickly grew to 20 percent of American electrical power with the potential to get far more affordable and plentiful. But crushing irrational regulation, including the way the N[uclear] R[egulatory] C[omission] was set up, made nuclear expensive or impossible to build.”

Supply-chain issues and cultural misconceptions of nuclear energy adversely affect its propagation in the U.S.

Joshua Smith, Energy Policy Lead at the Abundance Institute, stated in his opening testimony that “For decades, American engineers built nuclear swiftly, cheaply, and safely…Nuclear’s struggles today aren’t inherent to the technology. They’re the product of outdated, unfit, and counterproductive regulations. Major barriers include [As Low and Reasonably Achievable] and [Linear No-Threshold] standards which impose costs above any kind of offsetting safety benefits, inflexible [Nuclear Regulatory Commission] frameworks that prevent innovation and nuclear’s risk being widely understood. For example, there is no radiation caused deaths associated with Three Mile Island’s release. The Chernobyl disaster is impossible with modern reactor designs and measured in deaths per terawatt hours of electricity production, nuclear is about 800 times safer than coal and 100 times safer than gas generation.”

The United States must modernize its approach to electrical grid licensing, permitting and the nuclear industry generally if we want to maintain leadership in the global race for energy efficiency.

Joshua Smith said in his opening testimony that “Nuclear entrepreneurs can’t succeed in a system that blocks entry before shovels hit the dirt. Licensing, permitting, and interconnection are all clogged arteries in need of reform alongside nuclear regulations. The core lesson is that we need to not just improve nuclear regulations, but streamline permitting and grid interconnection to enable nuclear power and ensure an affordable and reliable energy supply.”
Alex Epstein testified that “[The] NRC should open nuclear innovation zones on federal land. So, the recent [executive orders] rightly encouraged the testing of nuclear reactors on federal lands, which would allow private developers to quickly iterate designs and run safety tests without waiting years. What [the Department of Energy] and [the Department of Defense] can do is formally designate nuclear innovation zones on federal land, and specifically the NRC can issue guidance confirming the data collected on these sites will satisfy what’s called performance-based safety testing requirements of the regulatory code Part 53, and this can dramatically expedite things.”

Member Highlights:

Subcommittee Chairman Burlison (R-Mo.) inquired about companies being held back from developing nuclear energy in the United States, and how states are better suited for regulating nuclear energy than the federal government.

Subcommittee Chairman Burlison: “I was recently told by one company based here in the United States that they will have a fully functioning MMR abroad in the next year. They specifically stated that they couldn’t accomplish that in the United States, that they’d have to go on foreign soil to demonstrate to the American public and the government that their technology is ready. What’s holding back companies like that from doing this in the United States?”

Mr. Smith: “Thank you. Fundamentally, the problem is we have too many barriers between people who want to build and their ability to put shovels on the ground and put up structures. So, take one example, it’s important that we do continued modeling. It’s important that we continue doing extensive testing, but we also need to do real life testing rather than just rely on the data that we currently use.”

…

Subcommittee Chairman Burlison: “I’m [going to] jump to one of my questions then, regarding the states. How would they be better suited than the federal government for regulating this?”

Mr. Smith: “One of the key differences between the designs of the 60s and 70s is today, they’re very, very different, so there’s little need for containment structures in some of these new designs. And part of the problem with having a lot of expertise at the NRC is simply that they have a hammer, they see everything as a nail, and so we have a problem where new companies come in, they don’t need a containment chamber or containment facility for their design, and yet the NRC prescriptive regulations say ‘thou shalt have one.’ And so state level interest can develop new rules that avoid this kind of old problem, and we could do some of this at the federal level of course. There’s room for Congress to get involved and spin off new agencies within the NRC or separately entirely to pursue these new designs. States have already taken the right kinds of steps. Texas has been developing an advanced nuclear working group. Utah similarly has an office of an energy development official who’s purely devoted to nuclear now, in addition to extensive legislative efforts within the state congress.”

Subcommittee Chairman Burlison also inquired about overbearing regulations and the cultural discussion of nuclear stifling U.S. energy innovation.

Subcommittee Chairman Burlison: “[Can you] speak to how the regulatory process for [technological innovators] who are doing very creative, very innovative stuff might be stifling to that mindset?”

Mr. Epstein: “I admire these guys for trying because it’s just, so difficult to do things. I mean, for all the reasons I mentioned, the licensing process, it could be difficult to test things, the whole Linear No-Threshold and As Low As Reasonably Achievable. So this, all these dogmas, as I said, can be changed and it’ll just radically open the frontier for innovation where companies like these can go very quickly from idea to action. Right now, there’s just an enormous gap between idea and action. One other thing that needs to change, I think, is the cultural discussion of nuclear we heard from Ranking Member Frost, and I think some others, that Three Mile Island was the problem. But as Scott Perry pointed out, like Three Mile Island, is not fundamentally a problem. [The] fact that the worst nuclear accident we’ve had is something that killed nobody, that should be celebrating nuclear. So we need to stop demonizing nuclear like the Simpsons did. We need to recognize it’s fundamentally safe. It’s not safe primarily because of regulation, it’s safe because the material cannot explode like combustion can.”

Rep. Scott Perry (R-Pa.) inquired about how the nuclear energy industry is more profitable and cost-efficient for taxpayers than other non-traditional energy industries.

Rep. Perry: “[Mr. Epstein], if you could just briefly explain how not doing the same thing over and over again for the same kind of design is going to be helpful to the industry, save the industry money, and, in turn, save my bosses, citizens of America—my constituents—money?”

Mr. Epstein: “For sure. So, I think it’s really important that you raise the issue of profit, because we absolutely want nuclear energy companies to be able to make a profit by competing to provide the lowest cost, most reliable energy, just like we want phone manufacturers to be able to make a profit providing the most effective phones. AI providing people the most cost-effective AI. There are two kinds of problems that arise. One is when you restrict the ability of profit-making entities to compete by not allowing them to do their jobs, which things like having a new environmental impact statement for every nuclear power plant, even if it’s the exact same thing, that just dramatically increases costs. The other thing that you raised is that when you subsidize inferior forms of energy, that also raises costs…So they take money away from the reliable power plants, reliable power plants get defunded, can’t make a profit. This is why we have a shortage of gas turbines. One of the reasons why nuclear is in bad shape, but we cannot build dispatchable capacity profitably, because we’ve screwed up the markets with subsidies. So, the Big Beautiful Bill, by far the best thing about it, in my opinion, was dramatic cuts to these grid destroying, price increasing solar and wind subsidies.”

MIL OSI USA News –

July 24, 2025

MIL-OSI Security: Allies enhance NATO’s digital posture

Source: NATO

Brussels, 23 July 2025 – Twelve NATO Allies¹ have committed to develop and roll out a new digital network by 2030 through NATO’s Allied Software for Cloud and Edge Services (ACE) High Visibility Project (HVP). ACE will enable personnel in the field to create, distribute and store classified information securely.

The initiative will provide participating Allies with a common digital service and improve interoperability in operations through more efficient data sharing. It will also support data-driven decision-making by leveraging advanced technologies such as artificial intelligence and machine learning.

Initial funding for ACE will be up to 45 million euros with participating Allies expected to allocate additional resources for specific tasks. The NATO Communications and Information Agency (NCIA) will lead the execution of the project on behalf of the participating Allies.

ACE will serve as the foundation for a scalable, software-driven approach to defence capabilities making the development and delivery of mission-critical applications and services faster and more secure. This in turn will enhance NATO’s ability to respond swiftly to evolving operational demands, ensuring digital systems remain responsive, updated and ready for use.

MIL Security OSI –

July 24, 2025

MIL-OSI: Sift Accelerates Industry Leadership with Product Innovations and Market Recognition in First Half of 2025

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, July 23, 2025 (GLOBE NEWSWIRE) — Sift, the AI-powered fraud platform delivering identity trust for leading global businesses, today announced a series of significant milestones achieved in the first half of 2025, demonstrating the company’s continued market leadership and its focus on customer-centric innovation. The period marked new growth in product capabilities, industry recognition, and global expansion initiatives.

Customer Recognition

Sift once again secured the #1 ranking across all fraud-related categories in G2’s 2025 Summer Reports, marking the second consecutive year the company has achieved the top position in Fraud Detection, E-Commerce Fraud Protection, and Risk-Based Authentication (RBA). G2 is the world’s largest and most trusted software marketplace and Sift’s recognition is based on the reviews of 500 real Sift users, a 42% increase since the 2024 Summer Reports and 52% more reviews than the closest category competitor.

Product Innovations: Identity Trust XD Framework

In March 2025, Sift introduced Identity Trust XD, a groundbreaking innovation that delivers unprecedented visibility into digital identity behavior across multiple dimensions. The new offering accelerates more confident and accurate decisions powered by Sift’s Global Data Network, which processes more than 1 trillion events annually.

Identity Trust XD transforms fragmented digital identity data into contextual insights, providing crucial, embedded context so that risk teams can make more informed decisions. The solution optimizes resources by minimizing analyst workload, increases revenue by accelerating consumer onboarding, reduces fraud loss through improved decision accuracy, and enhances decision confidence with deeper insights.

“The first half of 2025 has been transformative for Sift and our customers,” said Kris Nagel, CEO of Sift. “We’re not just evolving our technology—we’re ushering in the era of identity trust to transform fraud decisioning for the market. With Identity Trust XD, businesses can move beyond traditional fraud trade-offs and instead use identity intelligence as a competitive advantage.”

AI-Powered Capabilities Drive Operational Efficiency

In May 2025, Sift announced ActivityIQ, a generative AI-powered innovation that identifies and communicates account takeover (ATO) fraud patterns directly in the Sift Console experience that might otherwise go undetected. Built upon Activity Analyzer, ActivityIQ saves analysts significant time by summarizing risk patterns across multiple accounts simultaneously, potentially saving hundreds of hours in aggregate for customers using ATO Defense.

Additional innovations unveiled in the first half of 2025 include:

FIBR In-Console Integration: Brings Sift’s industry-first Fraud Industry Benchmarking Resource directly into the Sift Console, allowing customers to compare their fraud metrics against industry peers without leaving their operational hub.
Automatic Chargeback Labeling: Creates a feedback loop for payment fraud prevention by automatically updating machine learning models with chargeback outcomes.
Global Identity Insights: Provides comprehensive profile views of user behavior and risk outcomes with other Sift customers, reducing research time and minimizing human error during reviews.

Partner Program Expansion

In April 2025, Sift announced a significant expansion of its Partner Program, designed to support partners in transforming digital risk into revenue opportunities. The enhanced program includes multiple partnership categories: Referral Partners, Authorized Resellers, and Service Providers, each aligned with prescribed annual sales revenue goals, technical capabilities, and product certifications.

The enhanced program reflects Sift’s commitment to enabling partners across multiple engagement models, from referral opportunities to full implementation services, as they serve the rapidly expanding fraud prevention market.

About Sift

Sift is the AI-powered fraud platform delivering identity trust for leading global businesses. Our deep investments in machine learning and user identity, a data network scoring 1 trillion events per year, and a commitment to long-term customer success empower more than 700 customers to grow fearlessly. Brands including DoorDash, Yelp, and Poshmark rely on Sift to unlock growth and deliver seamless consumer experiences. Visit us at sift.com and follow us on LinkedIn.

Media Contact:

Victor White
VP, Corporate Marketing
press@sift.com

The MIL Network –

July 24, 2025

MIL-OSI: Result of Annual General Meeting

Source: GlobeNewswire (MIL-OSI)

Octopus AIM VCT plc

Results of Annual General Meeting

Octopus AIM VCT plc (the ‘Company’) announces the results of its Annual General Meeting held on 23 July 2025.

All Resolutions were carried on a show of hands. Details of proxy votes submitted in respect of the resolutions are detailed below.

Resolution	Votes For	Percentage of votes cast	Chair’s Discretion	Percentage of votes cast	Third party discretion	Votes Against	Percentage of votes cast	Votes Withheld
1	4,099,502	93.96	218,911	5.02	1,895	44,453	1.02	0
2	4,136,631	94.81	210,062	4.82	1,895	16,173	0.37	0
3	3,859,505	90.13	218,911	5.11	1,895	203,710	4.76	80,740
4	3,927,184	92.84	218,911	5.17	1,895	84,088	1.99	124,761
5	3,923,302	92.53	218,911	5.16	1,895	97,924	2.31	122,729
6	3,918,269	92.52	226,504	5.35	1,895	90,167	2.13	127,926
7	4,034,147	93.25	222,977	5.15	1,895	69,111	1.60	36,631
8	4,061,476	94.39	203,503	4.73	1,895	37,679	0.88	60,208
9	4,038,244	94.05	231,235	5.38	1,895	24,437	0.57	68,950
10	3,978,401	93.91	222,977	5.26	1,895	35,220	0.83	126,268
11	4,019,973	94.19	211,096	4.95	1,895	36,912	0.86	94,885
12	4,095,011	94.24	203,503	4.68	1,895	46,961	1.08	17,391
13	4,042,524	94.19	214,128	4.99	1,895	35,100	0.82	71,114
14	4,139,268	94.87	203,503	4.67	1,895	20,095	0.46	0

Based on an Issued Share Capital of Ordinary Shares of 233,787,355 at the voting record date, 1.87% of the shares in issue lodged valid proxies in relation to this meeting.

In accordance with UK Listing Rule 6.4.2, a copy of the resolutions passed, other than ordinary business, will be submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism document viewing facility at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information please contact:

Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067

LEI: 213800C5JHJUQLAFP619

The MIL Network –

July 24, 2025

MIL-OSI Asia-Pac: Pest Control Steering Committee reviews progress of anti-mosquito work in combating chikungunya fever, and efforts in rodent control implemented by departments (with photo)

Source: Hong Kong Government special administrative region

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MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI Asia-Pac: Pest Control Steering Committee reviews progress of anti-mosquito work in combating chikungunya fever, and efforts in rodent control implemented by departments (with photo)

Source: Hong Kong Government special administrative region

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MIL OSI Asia Pacific News –

July 24, 2025

MIL-OSI USA: Statement from NSF Chief of Staff Brian Stone, performing the duties of the NSF Director, on the White House AI Action Plan

Source: US Government research organizations

The White House’s AI Action Plan sends a clear message: the United States is all-in on winning the future of artificial intelligence. This road map removes barriers to American innovation and reaffirms our commitment to seizing the opportunities of AI to advance economic competitiveness and national security. At the U.S. National Science Foundation, we’re proud to have a critical role in realizing this future.

Over the coming weeks, NSF will unveil a series of major initiatives that align with this momentum, including:

New NSF AI Research Institutes to accelerate breakthroughs in foundational AI and the application of AI to health, education, chemistry and materials science.
A partnership to create a large language model infrastructure to develop cutting-edge capabilities to drive AI for science.
AI Testbeds to evaluate real-world AI systems with transparency and rigor.
The next phase of the National AI Research Resource to supercharge AI innovation through access to critical computational resources, data, software and training resources.

These investments will help secure U.S. leadership in AI while ensuring the benefits of this powerful technology reach across America and create more jobs. NSF stands ready to work alongside our partners in government, private industry and philanthropy to keep American innovation on the frontier where it belongs.

MIL OSI USA News –

July 24, 2025

MIL-OSI USA: WHITE HOUSE UNVEILS AMERICA’S AI ACTION PLAN

US Senate News:

Source: US Whitehouse
WASHINGTON, DC – The White House today released “Winning the AI Race: America’s AI Action Plan”, in accordance with President Trump’s January executive order on Removing Barriers to American Leadership in AI. Winning the AI race will usher in a new golden age of human flourishing, economic competitiveness, and national security for the American people.
The Plan identifies over 90 Federal policy actions across three pillars – Accelerating Innovation, Building American AI Infrastructure, and Leading in International Diplomacy and Security – that the Trump Administration will take in the coming weeks and months.
Key policies in the AI Action Plan include:
Exporting American AI: The Commerce and State Departments will partner with industry to deliver secure, full-stack AI export packages – including hardware, models, software, applications, and standards – to America’s friends and allies around the world.
Promoting Rapid Buildout of Data Centers: Expediting and modernizing permits for data centers and semiconductor fabs, as well as creating new national initiatives to increase high-demand occupations like electricians and HVAC technicians.
Enabling Innovation and Adoption: Removing onerous Federal regulations that hinder AI development and deployment, and seek private sector input on rules to remove.
Upholding Free Speech in Frontier Models: Updating Federal procurement guidelines to ensure that the government only contracts with frontier large language model developers who ensure that their systems are objective and free from top-down ideological bias.
“America’s AI Action Plan charts a decisive course to cement U.S. dominance in artificial intelligence. President Trump has prioritized AI as a cornerstone of American innovation, powering a new age of American leadership in science, technology, and global influence. This plan galvanizes Federal efforts to turbocharge our innovation capacity, build cutting-edge infrastructure, and lead globally, ensuring that American workers and families thrive in the AI era. We are moving with urgency to make this vision a reality,” said White House Office of Science and Technology Policy Director Michael Kratsios.
“Artificial intelligence is a revolutionary technology with the potential to transform the global economy and alter the balance of power in the world. To remain the leading economic and military power, the United States must win the AI race. Recognizing this, President Trump directed us to produce this Action Plan. To win the AI race, the U.S. must lead in innovation, infrastructure, and global partnerships. At the same time, we must center American workers and avoid Orwellian uses of AI. This Action Plan provides a roadmap for doing that,” said AI and Crypto Czar David Sacks.
“Winning the AI Race is non-negotiable. America must continue to be the dominant force in artificial intelligence to promote prosperity and protect our economic and national security. President Trump recognized this at the beginning of his administration and took decisive action by commissioning this AI Action Plan. These clear-cut policy goals set expectations for the Federal Government to ensure America sets the technological gold standard worldwide, and that the world continues to run on American technology,” said Secretary of State and Acting National Security Advisor Marco Rubio.
Learn more at ai.gov.

MIL OSI USA News –

July 24, 2025

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