NewzIntel.com

Category: Artificial Intelligence

  • MIL-OSI Russia: NSU scientists have developed a new model of a delivery drone

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    Scientists at Novosibirsk State University have developed a new model of an unmanned aerial vehicle that will be used to deliver goods to hard-to-reach areas. Last week, a test flight was conducted in the Novosibirsk Region: the drone successfully covered a distance of 4.5 km across the Ob River and delivered the goods to their destination.

    The achievement of the scientists was commented on by the head of the Nizhnekamensk village council of the Ordynsky district of the Novosibirsk region, Natalya Yuryevna Guseva:

    —I believe that the latest development, the “delivery drone,” is a time-saver and a great opportunity for residents of the right bank to deliver, for example, medicines that are not available at our pharmacy, or a small parcel from the marketplace! The test flight was successful, so I would like to wish the scientists of the Novosibirsk State University good luck and further development!”

    The new development is the next stage in the development of a line of unmanned aerial vehicles, which NSU has been working on for the third year. The development team includes employees Research Center in the field of artificial intelligence of NSU, students Institute of Intelligent Robotics And Higher College of Informatics NSU, as well as employees of the Siberian Fire and Rescue Academy of the State Fire Service of the Ministry of Emergency Situations of Russia and developers of a small innovative enterprise at NSU.

    — Now we understand that we have reached the next level: we can make a drone that will fly along a route in automatic mode, perform a certain action and return to the starting point, that is, these are fully autonomous machines. The creation of such devices is a pressing problem that is being solved not only in Russia. And we have a chance to make such a machine among the first, — said Alexey Okunev, director of the Institute of Intelligent Robotics at NSU.

    The delivery drone was designed at NSU: the developers independently design and print the parts of the device on a 3D printer. The UAV has imported electronics, but a significant part of the software, which is responsible for the logic of the device’s actions, flight control, processes the video signal, data from the sensors, is NSU’s own development. The drone uses odometry on the underlying surface (a method of measuring coordinates using machine vision) – a solution also developed at NSU. In the near future, it will be improved by introducing neural networks, which will allow the drone to determine its location with even greater accuracy, so that it is less dependent on the GPS signal.

    The new development has social significance and will find application in the delivery of goods, primarily to hard-to-reach areas. For example, to settlements in the territory of the Nizhnekamensk village council of the Ordynsky district of the Novosibirsk region, where the test flight was conducted. In the spring, when the ice crossing over the Obuv River is closed and the ferry has not yet started running, the village is deprived of land and ground communication for almost two weeks. If you carry out delivery by drone from the Ordynskoye workers’ settlement, you can do it directly across the river: the distance is only 4.5 km, which the UAV covers in 5 minutes. There are many such areas in Russia, the transport accessibility of which is limited for various reasons.

    — We plan to work in completely unprepared places: there is no need to create special infrastructure, build and equip airfields, drone ports, and so on. Our equipment must be as unpretentious and exceptionally smart as possible, because it needs to figure out, find and choose a place to land on its own. Now the first stage of technology development is underway — we are checking that this design is really capable of doing what is needed. The main element is that it will be able to fly over a river, leave the cargo and return back. Or simply bring the cargo one way and land. Last week we successfully conducted the first tests, — Alexey Okunev explained.

    Currently, the weight of goods that a drone can transport is limited to 500 grams. During the test flight, the drone delivered a set of medicines. The UAV can be used in any weather conditions, except for heavy rains and strong winds.

    The developers plan to produce a pilot batch of up to 5 units by summer and launch the delivery service for test operation: in the territory of the Nizhnekamensk village council in the summer there are a large number of vacationers, for whom drone delivery will save time on purchasing goods, rather than taking a ferry to the other side every time they need to urgently buy something.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI China: A-shares stabilizing amid trade tensions

    Source: China State Council Information Office

    File photo shows investors pay attention to the stock market trends at a securities firm in Nanjing, east China’s Jiangsu Province. [Photo/Xinhua]

    With rising strategic importance in terms of improving expectations and boosting confidence, China’s capital market now provides opportunities for both Chinese and foreign investors as global economic growth stagnates due to Sino-US trade frictions, experts said.

    Their comments followed messages delivered during a State Council executive meeting on Friday, which included making continuous efforts to stabilize the stock market and advance the sound and stable development of the property sector. Once related measures are introduced, they should affect targeted companies and individuals directly. The implementation efficiency of the measures should be improved and their effect ensured, according to the meeting.

    The benchmark Shanghai Composite Index gained 0.45 percent on Monday while the Shenzhen Component Index closed up 1.27 percent. The tech-heavy ChiNext in Shenzhen jumped 1.59 percent.

    The A-share market is crucial for lifting market confidence during trade tensions. Investors should be confident in China’s dedication to safeguarding the stability of its capital markets, said Qiu Xiang, chief A-share market strategist at CITIC Securities.

    Economic resilience is crucial during the ongoing stalemate. China has more choices and room for more policies, helping it to last longer during the tensions. But the huge amount of government debt that will mature or need refinancing before July will serve as the first turning point for US tariff policies, said Qiu.

    Against such a backdrop, self-reliant technology companies, sectors benefiting from Europe’s increasing capital expenditure, consumer staple providers and companies generating stable dividends are worth looking at in the A-share market, he added.

    Market turmoil and volatility continued in overseas markets last week, indicating continued external pressure. But the Chinese market is stable, thanks to its recovering economic fundamentals and quick responses to recent uncertainties, said Zhang Qiyao, chief strategy analyst at Industrial Securities.

    Meanwhile, China’s dual circulation development pattern and the country’s strategic focus will help to anchor market stability, said Zhang.

    Experts from Huaxi Securities wrote in a recent report that the Chinese mainland and Hong Kong stock markets may serve as havens for foreign investors, while other markets are undergoing more drastic fluctuations in the short term and global economic growth faces more uncertainties.

    The Chinese government has been dedicated to advancing supply side reform and deeper restructuring. Combined with its continued efforts in expanding domestic demand, Chinese firms are provided with a better environment, which means new investment opportunities, Huaxi said.

    In addition, Chinese equity assets now enjoy more valuation advantages compared to their foreign peers. The former’s investment value over the mid to long term is especially noticeable. The market should not underestimate policymakers’ resolution to stabilize market performance and investor expectations, they added.

    During a forum on Sunday, Liu Yuhui, a council member of the China Chief Economist Forum, said that now is a good time to invest in the A-share market, as it is projected to enjoy longer-term prosperity. Investors are especially advised to look for opportunities in core China assets, whose investment value has been manifested during the China-US trade frictions, he said.

    Fu Si, China portfolio strategist at Goldman Sachs, said that global actively managed funds and overseas hedge funds have increased their exposure to A shares since the beginning of the year, mainly driven by the rapid development of Chinese artificial intelligence technology. But their current exposure is still lower than historic levels, while selling room is limited. Therefore, global capital will flow back to the A-share market in the mid to long term, Fu said.

    As of the end of March, qualified foreign institutional investors have increased their holdings in A shares — both in terms of volume and market value — on a quarterly basis, according to market tracker Wind Info. QFII held at least 500 million yuan ($68.6 million) worth of shares in Zijin Mining, Centre Testing International Group and China XD Group each, with the latter — a transmission and distribution equipment maker — seeing the most rapid increase of QFII holdings in the past three months.

    MIL OSI China News –

  • MIL-OSI China: Chinese agriculture poised for breakthroughs in new quality productive forces

    Source: China State Council Information Office

    A latest report projects systemic breakthroughs in China’s new quality productive forces in terms of agriculture over the next decade, with grain yield per unit area expected to increase by 7.8 percent.

    The China Agricultural Outlook Report (2025-2034), released at the 2025 Agricultural Outlook Conference held at the Chinese Academy of Agricultural Sciences (CAAS) in Beijing on Sunday, reviewed China’s agricultural market performance in 2024 and forecast production, consumption, trade and price trends for major farm products in the course of the next decade.

    The report highlighted structural optimization in China’s agricultural supply during 2024 — marked by steady modernization progress and quality development. Notable achievements included enhanced supply of green and high-quality products, with 139,000 new crop germplasm resources collected, 1.07 million livestock genetic materials preserved, and 120,000 aquatic genetic materials documented.

    Agricultural technology and infrastructure continued to strengthen in 2024, contributing more than 63 percent to productivity growth, the report said. High-quality crop variety coverage exceeded 96 percent, while comprehensive mechanization reached 75.4 percent. Over 5.33 million hectares of high-standard farmland were newly developed or upgraded, bringing total coverage to 66.67 million hectares.

    According to the report, China’s agricultural green development has progressed significantly — with livestock waste utilization reaching 79.4 percent, crop straw utilization exceeding 88 percent, and agricultural film recycling surpassing 80 percent.

    The decade-long forecast predicts fundamental improvements in rural revitalization and agricultural modernization. Grain production capacity will achieve both quantitative and qualitative enhancements, with the cultivated area stabilizing at 119 million hectares by 2034.

    Supported by accelerated technological advancement and promotion of high-yield, stress-resistant crop varieties, grain yield is projected to rise 7.8 percent to 6,311 kg/ha by 2034. Corn and soybean yields are expected to reach 7,350 kg/ha and 2,775 kg/ha, respectively, the report said.

    It noted that rising consumer demand for premium, healthy and diversified agricultural products aligns with China’s economic growth and living standard improvements.

    The report also said that agricultural trade patterns will optimize through deeper global supply chain integration — with grain imports expected to decline to 113 million tonnes by 2034. Vegetable and fruit exports are forecast to grow annually by 2.6 percent and 8.8 percent, respectively, maintaining international competitiveness.

    Organized by the Agricultural Information Institute of the CAAS, the conference emphasized enhancing comprehensive production capacity to address external uncertainties. It also emphasized advancing AI and emerging technologies to strengthen monitoring systems, reaffirming commitment to building China into an agricultural powerhouse.

    The event featured high-level discussions on food security, smart agriculture development, trade coordination mechanisms, and AI-powered market monitoring, reflecting current industry focus areas.

    MIL OSI China News –

  • MIL-OSI Security: 27 Members Or Associates Of Tren De Aragua Charged With Racketeering, Narcotics, Sex Trafficking, Robbery And Firearms Offenses

    Source: Office of United States Attorneys

    Matthew Podolsky, the Acting United States Attorney for the Southern District of New York; Pamela Bondi, the Attorney General of the United States; Kristi Noem, the Secretary of the Department of Homeland Security (“DHS”); Todd M. Lyons, the Acting Director of U.S. Immigration and Customs Enforcement; and Jessica S. Tisch, the Commissioner of the New York City Police Department (“NYPD”), announced today two Superseding Indictments charging 27 individuals currently or formerly associated with the designated foreign terrorist organization Tren de Aragua (“TdA”) with racketeering conspiracy, sex trafficking conspiracy, drug trafficking conspiracy, robbery, and firearms offenses.  The first Superseding Indictment (the “TdA Indictment”) charges six alleged members of TdA.  The second Superseding Indictment (the “Anti-Tren Indictment”) charges 19 alleged members of “Anti-Tren,” a splinter faction comprised of former TdA members, along with two additional associates of Anti-Tren.  Of the 27 defendants, 21 are in federal custody, including 16 who were already in federal criminal, immigration, or state custody and five who were arrested last night and today in operations in New York and other jurisdictions.

    Acting U.S. Attorney Matthew Podolsky said: “Today, we have filed charges against 27 alleged members, former members, and associates of Tren de Aragua, for committing murders and shootings, forcing young women trafficked from Venezuela into commercial sex work, robbing and extorting small businesses, and selling ‘tusi,’ a pink powdery drug that has become their calling card.  Today’s Indictments make clear that this Office will work tirelessly to keep the law-abiding residents of New York City safe, and hold accountable those who bring violence to our streets.”

    Attorney General Pam Bondi said: “As alleged, Tren de Aragua is not just a street gang – it is a highly structured terrorist organization that has destroyed American families with brutal violence, engaged in human trafficking, and spread deadly drugs through our communities.  Today’s indictments and arrests span three states and will devastate TdA’s infrastructure as we work to completely dismantle and purge this organization from our country.” 

    NYPD Commissioner Jessica S. Tisch said: “Tren de Aragua is one of the most dangerous gangs in the country, and the NYPD has taken significant action to shut down their operations in New York City.  For the first time ever, TdA is being named and charged as the criminal enterprise that it is.  This isn’t just street crime—it’s organized racketeering, and this gang has shown zero regard for the safety of New Yorkers.  As alleged in the indictment, these defendants wreaked havoc in our communities, trafficking women for sexual exploitation, flooding our streets with drugs, and committing violent crimes with illegal guns.  Thanks to the dedicated members of the NYPD and the important work of our federal partners, their time is up.”

    According to the allegations contained in the Indictments:[1]

    The TdA Indictment

    TdA is a criminal organization that operated throughout New York City, including the boroughs of the Bronx and Queens, as well as internationally in Venezuela, Peru, and elsewhere.  The purposes of TdA included:

    • Preserving and protecting the power and territory of TdA and its members and associates through acts involving murder, assault, robbery, other acts of violence, and threats of violence, including acts of violence and threats of violence directed at former members and associates of TdA who associated with a splinter organization known as Anti-Tren.
    • Enriching the members and associates of TdA through, among other things:
      • The unlawful smuggling of individuals, including young women from Venezuela, into Peru and the U.S.;
      • The sex trafficking of young women (whom members and associates of TdA often refer to as “multadas”) who had been unlawfully smuggled into Peru and the U.S.;
      • The trafficking of controlled substances, including a mixed substance called “tusi” that contains ketamine; and
      • Armed robberies.
    • Keeping victims and potential victims in fear of TdA and its members and associates through threats and acts of violence.
    • Promoting and enhancing TdA and the reputation and activities of its members and associates.
    • Providing assistance to members and associates of TdA who committed crimes for and on behalf of TdA, such as lodging and interstate transportation for members and associates of TdA to flee prosecution.
    • Protecting TdA and its members and associates from detection and prosecution by law enforcement authorities through acts of intimidation, threats, and violence against potential witnesses to crimes committed by members of TdA.

    Members and associates of TdA transported “multadas” from Venezuela into Peru and the U.S. in exchange for debts that the “multadas” would pay back to TdA by engaging in commercial sex work.  Members of TdA enforced compliance among “multadas” by, among other things:

    • Threatening to kill “multadas” and their families,
    • Assaulting “multadas,”
    • Shooting or killing “multadas,” and
    • Tracking down and kidnapping “multadas” who tried to flee.

    Members of TdA also committed and conspired, attempted, and threatened to commit, acts of violence, including acts involving murder and assault, to protect and expand TdA’s criminal operations; resolve disputes within TdA; to retaliate against rival organizations, including Anti-Tren; and to maintain control over sex trafficking victims.  TdA members and associates also trafficked controlled substances, committed robberies, and obtained, possessed, trafficked, and used firearms and ammunition.

    The TdA Indictment charges JARWIN VALERO-CALDERON, a/k/a “La Fama”; SAMUEL GONZALEZ CASTRO, a/k/a “Klei,” a/k/a “Kley”; EFERSON MORILLO-GOMEZ, a/k/a “Jefferson,” a/k/a “Efe Trebol”; BRAYAN OLIVEROS-CHERO; SANDRO OLIVEROS-CHERO; and ARMANDO JOSE PEREZ GONZALEZ, a/k/a “Biblia” (the “TdA Defendants”) with conspiring to participate in the TdA racketeering enterprise.  Various of the TdA Defendants are also charged with participating in offenses relating to drug trafficking, carjacking, robbery, and extortion, as well as firearms offenses.  This case is assigned U.S. District Judge Denise L. Cote.

    The Anti-Tren Indictment

    Anti-Tren is a criminal organization almost exclusively comprised of former members and associates of TdA.  Anti-Tren operated throughout New York City, including the boroughs of the Bronx and Queens, and in New Jersey, and elsewhere.  Like TdA, the purposes of Anti-Tren included:

    • Preserving and protecting the power and territory of Anti-Tren and its members and associates through acts involving murder, assault, other acts of violence, and threats of violence, including acts of violence and threats of violence directed at members and associates of TdA.
    • Enriching the members and associates of Anti-Tren through, among other things:
      • The unlawful smuggling of individuals, including women and girls from Venezuela, into the U.S.;
      • The sex trafficking of “multadas” who had been unlawfully smuggled into the U.S.;
      • The trafficking of controlled substances, including “tusi”; and
      • Armed robberies.
    • Keeping victims and potential victims in fear of Anti-Tren and its members and associates through threats and acts of violence.
    • Promoting and enhancing Anti-Tren and the reputation and activities of its members and associates.
    • Providing assistance to members and associates of Anti-Tren who committed crimes for and on behalf of Anti-Tren, such as lodging and interstate transportation for members and associates of Anti-Tren to flee prosecution, or bail money for members or associates of Anti-Tren who are detained.
    • Protecting Anti-Tren and its members and associates from detection and prosecution by law enforcement authorities through acts of intimidation, threats, and violence against potential witnesses to crimes committed by members of Anti-Tren.

    Like TdA,  Anti-Tren engaged in human smuggling and sex trafficking of “multadas,” into the U.S. in exchange for debts that the “multadas” would pay back by engaging in commercial sex work. And like TdA, members of Anti-Tren enforced compliance among “multadas” by, among other things:

    • Threatening to kill “multadas” and their families,
    • Assaulting “multadas,”
    • Shooting or killing “multadas,” and
    • Tracking down and kidnapping “multadas” who tried to flee.

    Members of Anti-Tren also committed and conspired, attempted, and threatened to commit, acts of violence, including acts involving murder and assault, to protect and to expand Anti-Tren’s criminal operations, resolve disputes within Anti-Tren, to retaliate against rival organizations, including Tren de Aragua, and to maintain control over sex trafficking victims.  Anti-Tren members and associates also trafficked controlled substances, committed robberies, and obtained, possessed, trafficked, and used firearms and ammunition.

    The Anti-Tren Indictment charges REINALDO RAFAEL GONZALES-VALDEZ, a/k/a “Mariguana,” a/k/a “Marijuana”; JOSE MANUEL GUERRERO-ZARATE, a/k/a “Mantequilla”; JOSE DAVID VALENCIA-DE LA ROSA; JOHAN CARLOS MUJICA-URPIN, a/k/a “Sobrino”; LUIS JOSE VELASQUEZ-HURTADO, a/k/a “Chito”; STEFANO SAID PACHON-ROMERO; GUILLERMO FREITES VELAZQUEZ; JESUS DAVID BARRIOS GARCIA, a/k/a “Morocho”; GIOVANNY VALENTIN BLANCO LUCIANO, a/k/a “Cachorrito”; ANDERSON JESUS DURAN BERROTERAN, a/k/a “Cachorro”; ROIMAN NOE BELLO FERRER; LUIS MIGUEL RODRIGUEZ-TAPIA; MARIO ANDRES PEREDA, a/k/a “Cara de Hombre”; ANDERSON SMITH ZAMBRANO-PACHECO; YEFERSON ALEJANDRO PRIETO GALVIZ, a/k/a “Flaco T,” a/k/a “Flacote”; JHONKENNEDY BRAVO-CASTRO, a/k/a “Negrito”; YENDER MAYKIER MATA; KELLEN ALEJANDRO JASPE BUSTAMANTE; and LUIS ANDRES BELLO-CHACON, a/k/a “Care de Peo” (the “Anti-Tren Defendants”) with conspiring to participate in an Anti-Tren racketeering enterprise.  Various of the Anti-Tren Defendants, along with co-defendants WILFREDO JOSE AVENDAÑO CARRIZALEZ and CARLOS GABRIEL SANTOS MOGOLLON, are also charged with participating in offenses relating to sex trafficking, conspiracy to import and harbor aliens, drug trafficking, obstruction of justice, and firearms offenses.  This case is assigned U.S. District Judge Mary Kay Vyskocil.

    *                *                *

    A chart containing the names, ages, charges, and maximum penalties for the defendants is set forth below.

    The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge.

    Mr. Podolsky praised the outstanding investigative work of Homeland Security Investigations (“HSI”) and NYPD.  He also thanked the Arapahoe County District Attorney’s Office in Colorado; the Aurora Police Department in Aurora, Colorado; the New York/New Jersey Regional Fugitive Task Force of the U.S. Marshals Service (“USMS”); the Homeland Security Investigations National Gang Unit and New York Human Intelligence Division; U.S. Immigration and Customs Enforcement’s New York Enforcement and Removal Operations; the Bureau of Alcohol, Tobacco, Firearms, and Explosives (“ATF”); and the New York City Crime Analysis Center at the New York/New Jersey High Intensity Drug Trafficking Area.

    This case received significant support from Joint Task Force Vulcan (“JTFV”), which was created in 2019 to eradicate MS-13 and now expanded to target Tren de Aragua, and is comprised of U.S. Attorney’s Offices across the country, including the Southern District of New York; the Eastern District of New York; the District of New Jersey; the Northern District of Ohio; the District of Utah; the District of Massachusetts; the Eastern District of Texas; the Southern District of Florida; the Eastern District of Virginia; the Southern District of California; the District of Nevada; the District of Alaska; the Southern District of Texas; and the District of Columbia, as well as the Department of Justice’s National Security Division and the Criminal Division.  Additionally, the FBI; DEA; HSI; ATF; USMS; and the Federal Bureau of Prisons have been essential law enforcement partners with JTFV.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Justice Department to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN). In February 2025, Tren de Aragua was designated a Foreign Terrorist Organization.

    This case is being handled by the Office’s Violent and Organized Crime Unit.  Assistant U.S. Attorneys Jun Xiang, Kathryn Wheelock, and Timothy Ly are in charge of the prosecution.

    The charges contained in the Indictments are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

    The Tren de Aragua Indictment

    COUNT

    CHARGE

    DEFENDANTS

    MAX. PENALTIES

    1

    Racketeering

    conspiracy

    18 U.S.C. § 1962(d)

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,” 29;

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” 28;

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol,” 20;

    BRAYAN OLIVEROS-CHERO, 28;

    SANDRO OLIVEROS-CHERO, 25; and

    ARMANDO JOSE PEREZ GONZALEZ,

               a/k/a “Biblia,” 30

    		 Life in prison

    2

    Drug trafficking conspiracy

    21 U.S.C. §  846

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    BRAYAN OLIVEROS-CHERO,

    SANDRO OLIVEROS-CHERO, and

    ARMANDO JOSE PEREZ GONZALEZ,

               a/k/a “Biblia”

    		 20 years in prison

    3

    Carjacking conspiracy

    18 U.S.C. § 371

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    		 5 years in prison

    4

    Carjacking

    18 U.S.C. § 2119

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    		 15 years in prison

    5

    Hobbs Act robbery

    18 U.S.C. §§  1951 and 2

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    		 20 years in prison

    6

    Firearm use, carrying, and possession

    18 U.S.C. §§  924(c)(1)(A)(i) and (ii), and 2

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    Life in prison

    Mandatory minimum sentence of 7 years in prison

    7

    Attempted Hobbs Act extortion

    18 U.S.C. §§  1951 and 2

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    		 20 years in prison

    8

    Firearm use, carrying, and possession – conspiracy

    18 U.S.C. §  924(o)

    JARWIN VALERO-CALDERON,

         a/k/a “La Fama,”

    SAMUEL GONZALEZ CASTRO,

         a/k/a “Klei,” 

         a/k/a “Kley,” and

    EFERSON MORILLO-GOMEZ,

         a/k/a “Jefferson,” 

         a/k/a “Efe Trebol”

    		 20 years in prison

    9

    Firearm use, carrying, and possession – conspiracy

    18 U.S.C. §  924(o)

    BRAYAN OLIVEROS-CHERO, and

    SANDRO OLIVEROS-CHERO

    		 20 years in prison

    10

    Firearm use, carrying, and possession

    18 U.S.C. §  924(c)(1)(A)(i) and 2

    BRAYAN OLIVEROS-CHERO, and

    SANDRO OLIVEROS-CHERO

    		 20 years in prison

    11

    Possession of ammunition by an illegal alien

    18 U.S.C. §§  922(g)(5) and 2

    		 BRAYAN OLIVEROS-CHERO 15 years in prison

    12

    Possession of a firearm and ammunition by an illegal alien

    18 U.S.C. §§  922(g)(5) and 2

    		 SANDRO OLIVEROS-CHERO 15 years in prison

    13

    Firearm use, carrying, and possession

    18 U.S.C. §§  924(c)(1)(A)(i) and 2

    ARMANDO JOSE PEREZ GONZALEZ,

               a/k/a “Biblia,”

    Life in prison

    Mandatory minimum sentence of 5 years in prison

    14

    Possession of a firearm and ammunition by an illegal alien

    18 U.S.C. §§  922(g)(5) and 2

    ARMANDO JOSE PEREZ GONZALEZ,

               a/k/a “Biblia,”

    		 15 years in prison

    The Anti-Tren Indictment

    COUNT

    CHARGE

    DEFENDANTS

    MAX. PENALTIES

    1

    Racketeering

    conspiracy

    18 U.S.C. § 1962(d)

    REINALDO RAFAEL GONZALES-VALDEZ, 

         a/k/a “Mariguana,” 

         a/k/a “Marijuana,” 41;

    JOSE MANUEL GUERRERO-ZARATE,

         a/k/a “Mantequilla,” 29;

    JOSE DAVID VALENCIA-DE LA ROSA, 27;

    JOHAN CARLOS MUJICA-URPIN,

          a/k/a “Sobrino,” 27;

    LUIS JOSE VELASQUEZ-HURTADO,

         a/k/a “Chito,” 30;

    STEFANO SAID PACHON-ROMERO, 21;

    GUILLERMO ENRIQUE FREITES-VELAZQUEZ, 26;

    JESUS DAVID BARRIOS GARCIA,

         a/k/a “Morocho,” 27;

    GIOVANNY VALENTIN BLANCO LUCIANO,

         a/k/a “Cachorrito,” 20;

    ANDERSON JESUS DURAN BERROTERAN,

         a/k/a “Cachorro,” 22;

    ROIMAN NOE BELLO FERRER, 37;

    LUIS MIGUEL RODRIGUEZ-TAPIA, 25;

    MARIO ANDRES PEREDA,

         a/k/a “Cara de Hombre,” 44;

    ANDERSON SMITH ZAMBRANO-PACHECO, 26;

    YEFERSON ALEJANDRO PRIETO GALVIZ,

         a/k/a “Flaco T,” 

         a/k/a “Flacote,” 24;

    JHONKENNEDY BRAVO-CASTRO,

         a/k/a “Negrito,” 27;

    YENDER MAYKIER MATA, 36;

    KELLEN ALEJANDRO JASPE BUSTAMANTE, 20; and

    LUIS ANDRES BELLO-CHACON,

        a/k/a “Care de Peo,” 31

    		 Life in prison

    2

    Sex trafficking conspiracy

    18 U.S.C. § 1594(c)

    REINALDO RAFAEL GONZALES-VALDEZ, 

          a/k/a “Mariguana,” a/k/a “Marijuana,”

    JOSE MANUEL GUERRERO-ZARATE, 

          a/k/a “Mantequilla,”  

    JOSE DAVID VALENCIA-DE LA ROSA,

    JOHAN CARLOS MUJICA-URPIN, 

          a/k/a “Sobrino,”

    LUIS JOSE VELASQUEZ-HURTADO,

          a/k/a “Chito,”

    STEFANO SAID PACHON-ROMERO, GUILLERMO FREITES VELAZQUEZ,

    JESUS DAVID BARRIOS GARCIA, 

          a/k/a “Morocho,”

    ANDERSON JESUS DURAN BERROTERAN,        a/k/a “Cachorro,”

    LUIS MIGUEL RODRIGUEZ-TAPIA,

    MARIO ANDRES PEREDA, 

          a/k/a “Cara de Hombre,”

    ANDERSON SMITH ZAMBRANO-PACHECO, and

    JHONKENNEDY BRAVO-CASTRO,

          a/k/a “Negrito”

    		 Life in prison

    3

    Alien importation and harboring for immoral purpose – conspiracy

    18 U.S.C. § 371

    REINALDO RAFAEL GONZALES-VALDEZ, 

          a/k/a “Mariguana,” a/k/a “Marijuana,”

    JOSE MANUEL GUERRERO-ZARATE, 

          a/k/a “Mantequilla,” JOSE DAVID VALENCIA-DE LA ROSA,

    JOHAN CARLOS MUJICA-URPIN, 

          a/k/a “Sobrino,”

    LUIS JOSE VELASQUEZ-HURTADO,

          a/k/a “Chito,”

    STEFANO SAID PACHON-ROMERO, GUILLERMO FREITES VELAZQUEZ,

    JESUS DAVID BARRIOS GARCIA, 

          a/k/a “Morocho,”

    ANDERSON JESUS DURAN BERROTERAN,        a/k/a “Cachorro,”

    LUIS MIGUEL RODRIGUEZ-TAPIA,

    MARIO ANDRES PEREDA, 

          a/k/a “Cara de Hombre,”

    ANDERSON SMITH ZAMBRANO-PACHECO, and

    JHONKENNEDY BRAVO-CASTRO,

          a/k/a “Negrito”

    		 5 years in prison

    4

    Drug trafficking conspiracy

    21 U.S.C. §  846

    REINALDO RAFAEL GONZALES-VALDEZ,

          a/k/a “Mariguana,” a/k/a “Marijuana,”

    JOSE MANUEL GUERRERO-ZARATE, 

          a/k/a “Mantequilla,”  

    JOHAN CARLOS MUJICA-URPIN, 

          a/k/a “Sobrino,”

    GUILLERMO FREITES VELAZQUEZ,

    JESUS DAVID BARRIOS GARCIA, 

          a/k/a “Morocho,”

    GIOVANNY VALENTIN BLANCO LUCIANO, 

          a/k/a “Cachorrito,”  

    ANDERSON SMITH ZAMBRANO-PACHECO,

    YEFERSON ALEJANDRO PRIETO GALVIZ,        a/k/a “Flaco T,” a/k/a “Flacote,”

    YENDER MAYKIER MATA,

    KELLEN ALEJANDRO JASPE BUSTAMANTE, and

    LUIS ANDRES BELLO-CHACON, 

          a/k/a “Care de Peo”

    		 20 years in prison

    5

    Firearm use, carrying, and possession

    18 U.S.C. §§ 924(c)(1)(A)(i) and 2

    REINALDO RAFAEL GONZALES-VALDEZ,

          a/k/a “Mariguana,” a/k/a “Marijuana,”

    JOSE MANUEL GUERRERO-ZARATE, 

          a/k/a “Mantequilla,”  

    JOHAN CARLOS MUJICA-URPIN, 

          a/k/a “Sobrino,”

    GUILLERMO FREITES VELAZQUEZ,

    JESUS DAVID BARRIOS GARCIA, 

          a/k/a “Morocho,”

    GIOVANNY VALENTIN BLANCO LUCIANO, 

          a/k/a “Cachorrito,”  

    ANDERSON SMITH ZAMBRANO-PACHECO,

    YEFERSON ALEJANDRO PRIETO GALVIZ,        a/k/a “Flaco T,” a/k/a “Flacote,”

    YENDER MAYKIER MATA,

    KELLEN ALEJANDRO JASPE BUSTAMANTE, and

    LUIS ANDRES BELLO-CHACON, 

               a/k/a “Care de Peo”

    Life in prison

    Mandatory minimum sentence of 5 years in prison

    6

    Obstruction of justice

    18 U.S.C. §§ 1512(c) and 2

    LUIS JOSE VELASQUEZ-HURTADO,

          a/k/a “Chito,”

    		 20 years in prison

    7

    Unlicensed dealing of firearms

    18 U.S.C. §§   922(a)(1)(A) and 2

    		 STEFANO PACHON-ROMERO 5 years in prison

    8

    Possession of a firearm and ammunition by a fugitive from justice and illegal alien

    18 U.S.C. §§ 922(g)(2) and (5), and 2

    		 ANDERSON SMITH ZAMBRANO-PACHECO 15 years in prison

    9

    Possession of a firearm and ammunition by an illegal alien

    18 U.S.C. §§  922(g)(5) and 2

    JHONKENNEDY BRAVO-CASTRO,

               a/k/a “Negrito,”

    		 15 years in prison

    10

    Possession of a firearm and ammunition by an illegal alien

    18 U.S.C. §§  922(g)(5) and 2

    WILFREDO JOSE AVENDAÑO CARRIZALEZ, 26; and

    CARLOS GABRIEL SANTOS MOGOLLON, 31

    		 15 years in prison

    [1] The charges contained in the Indictments are merely accusations and the defendants are presumed innocent unless and until proven guilty.

    MIL Security OSI –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of March 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 21, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of March 31, 2025, was $21.78.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month March 31, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI USA: Secretary Chavez-DeRemer meets with Teamsters, manufacturers, construction workers as America at Work tour continues

    Source: US Department of Labor

    BEAVERTON, OR – U.S. Department of Labor Secretary Lori Chavez-DeRemer delivered a keynote address at the Teamsters Unity Conference last week in Nevada, where she also visited a training facility for aviation mechanics and held a roundtable with local small business owners. Continuing her promise to tell the story of America at Work, the Secretary then traveled to Oregon, where she toured a high school construction project and met with Daimler Truck North America’s Chief Executive Officer John O’Leary.

    In her speech to Teamsters last Tuesday, Secretary Chavez-DeRemer highlighted that her father’s experience as a Teamster “meant a paycheck we could count on, a roof over our heads, and a promise that hard work would be respected.” The Secretary concluded her remarks by promising to “push for jobs that pay what you’re worth, for workplaces that keep you safe, and for retirements that let you rest easy after a lifetime of labor.”

    NEVADA

    Secretary Chavez-DeRemer joins General President Sean O’Brien at the 2025 Teamsters Unity Conference.

    The Secretary also visited with faculty, staff, and students at the Aviation Maintenance Institute while witnessing their specialized training program in action. Throughout the tour, she learned more about AIM’s effort to educate the next generation of aviation mechanics and to meet growing demand for airplane technicians. 

    Secretary Chavez-DeRemer then held a roundtable discussion with the Nevada Hispanic Business Group, an organization focused on empowering local small businesses. She heard from over a dozen employers about challenges they are facing, including overregulation and other economic barriers to success.

    OREGON

    Secretary Chavez-DeRemer wrapped up the week in Oregon, where she visited the headquarters for truck manufacturing company Daimler Truck North America. With seven U.S. manufacturing sites and 17,000 employees, they discussed the importance of putting American manufacturers first and quickly training the workers needed to fill these good-paying jobs. 

    Finally, the Secretary stopped by the construction site for Beaverton’s new high school to receive a progress update from Skanska construction workers and local ironworkers assigned to the project. So far, Ironworkers Local 29 has put in more than 21,000 journeymen hours and 6,900 registered apprentice hours for the project, which began nearly a year ago. 

    Learn more about the Secretary’s listening tour, including her recent stops in Florida and Pennsylvania.

    MIL OSI USA News –

  • MIL-OSI: Wintrust Financial Corporation Reports Record First Quarter 2025 Net Income

    Source: GlobeNewswire (MIL-OSI)

    ROSEMONT, Ill., April 21, 2025 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (“Wintrust”, “the Company”, “we” or “our”) (Nasdaq: WTFC) announced record quarterly net income of $189.0 million, or $2.69 per diluted common share, for the first quarter of 2025, compared to net income of $185.4 million, or $2.63 per diluted common share in the fourth quarter of 2024. Pre-tax, pre-provision income (non-GAAP) totaled a record $277.0 million, compared to $270.1 million for the fourth quarter of 2024.

    Timothy S. Crane, President and Chief Executive Officer, commented, “Building on our record results in 2024, we are pleased with our strong start to the year. Our balanced business model supported disciplined loan growth, which was funded by robust deposit growth in the first quarter of 2025.”

    Additionally, Mr. Crane noted, “Net interest margin in the first quarter increased by five basis points to 3.56% compared to the fourth quarter of 2024. The improvement in net interest margin was primarily attributed to decreased funding costs. The higher net interest margin and balance sheet growth supported record net interest income levels in the first quarter of 2025.”

    Highlights of the first quarter of 2025:
    Comparative information to the fourth quarter of 2024, unless otherwise noted

    • Total loans increased by $653 million, or 6% annualized.
    • Total deposits increased by approximately $1.1 billion, or 8% annualized.
    • Total assets increased by $1.0 billion, or 6% annualized.
    • Net interest income increased to $526.5 million in the first quarter of 2025, compared to $525.1 million in the fourth quarter of 2024, supported by improvement in net interest margin and balance sheet growth.        
      • Net interest margin increased to 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2025.
    • Non-interest income and non-interest expense were relatively stable in the first quarter of 2025. Notable impacts were:
      • Net gains on investment securities totaled $3.2 million.
      • Macatawa Bank acquisition-related costs were $2.7 million.
    • Provision for credit losses totaled $24.0 million in the first quarter of 2025, as compared to a provision for credit losses of $17.0 million in the fourth quarter of 2024.
    • Net charge-offs totaled $12.6 million, or 11 basis points of average total loans on an annualized basis, in the first quarter of 2025 compared to $15.9 million, or 13 basis points of average total loans on an annualized basis, in the fourth quarter of 2024.

    Mr. Crane noted, “The Company exhibited disciplined and consistent loan growth, as loans increased by $653 million compared to the prior quarter, or 6% on an annualized basis. Loan pipelines are strong and we remain prudent in our review of credit opportunities, ensuring our loan growth adheres to our conservative credit standards. Strong deposit growth of $1.1 billion, or 8% on an annualized basis, in the first quarter of 2025 outpaced loan growth, which resulted in our loans-to-deposits ratio ending the quarter at 90.9%. Non-interest bearing deposits totaled $11.2 billion and comprised 21% of total deposits at the end of the first quarter of 2025. We continue to leverage our enviable market positioning to generate deposits, grow loans and expand our franchise value.”

    Commenting on credit quality, Mr. Crane stated, “Prudent credit management, involving in-depth reviews of the portfolio, has led to positive outcomes by proactively identifying and resolving problem credits in a timely fashion. We continue to be conservative, diversified, and maintain our consistently strong credit standards. We believe the Company’s reserves are appropriate and we remain committed to maintaining credit quality as evidenced by our improved net charge-offs, stable levels of non-performing loans and our core loan allowance for credit losses of 1.37%.”

    In summary, Mr. Crane concluded, “Overall, we are proud of our first quarter results and believe we are well-positioned to continue our strong momentum as we navigate the macroeconomic uncertainty in 2025. The first quarter results highlighted the quality of our core deposit franchise and multifaceted nature of our business model, which uniquely positions us to be successful. Anticipated solid loan growth in the second quarter, combined with a stable net interest margin should result in higher levels of net interest income in the second quarter of 2025. Increasing our long-term franchise value and net interest income, coupled with disciplined expense control and maintaining our conservative credit standards, remain our focus in 2025.”

    The graphs shown on pages 3-7 illustrate certain financial highlights of the first quarter of 2025 as well as historical financial performance. See “Supplemental Non-GAAP Financial Measures/Ratios” at Table 17 for additional information with respect to non-GAAP financial measures/ratios, including the reconciliations to the corresponding GAAP financial measures/ratios.

    Graphs available at the following link: http://ml.globenewswire.com/Resource/Download/cdbdc506-1b5a-4776-ae2e-e0b14106e712

    SUMMARY OF RESULTS:

    BALANCE SHEET

    Total assets increased $1.0 billion in the first quarter of 2025 as compared to the fourth quarter of 2024. Total loans increased by $653.4 million as compared to the fourth quarter of 2024. The increase in loans was primarily driven by growth in the commercial and premium finance life insurance loan portfolios.

    Total liabilities increased by $734.2 million in the first quarter of 2025 as compared to the fourth quarter of 2024, driven by a $1.1 billion increase in total deposits. Robust organic deposit growth in the first quarter of 2025 was driven by our diverse deposit product offerings. Non-interest bearing deposits as a percentage of total deposits were 21% at March 31, 2025, relatively stable compared to recent quarters. The Company’s loans-to-deposits ratio ended the quarter at 90.9%.

    For more information regarding changes in the Company’s balance sheet, see Consolidated Statements of Condition and Table 1 through Table 3 in this report.

    NET INTEREST INCOME

    For the first quarter of 2025, net interest income totaled $526.5 million, an increase of $1.3 million as compared to the fourth quarter of 2024, primarily due to improvement in net interest margin and growth in the balance sheet, partially offset by two fewer calendar days in the quarter.

    Net interest margin increased to 3.54% (3.56% on a fully taxable-equivalent basis, non-GAAP) during the first quarter of 2025, up five basis points compared to the fourth quarter of 2024. The yield on earning assets declined 11 basis points during the first quarter of 2025 primarily due to a 15 basis point decrease in loan yields. The net free funds contribution declined six basis points compared to the fourth quarter of 2024. These declines were more than offset by a 22 basis point reduction in funding cost, primarily due to a 23 basis point decline in the rate paid on interest-bearing deposits, compared to the fourth quarter of 2024.

    For more information regarding net interest income, see Table 4 through Table 7 in this report.

    ASSET QUALITY

    The allowance for credit losses totaled $448.4 million as of March 31, 2025, an increase from $437.1 million as of December 31, 2024. A provision for credit losses totaling $24.0 million was recorded for the first quarter of 2025 as compared to $17.0 million recorded in the fourth quarter of 2024. The higher provision for credit losses recognized in the first quarter of 2025 is primarily attributable to impacts related to the macroeconomic outlook. Future economic performance remains uncertain, thus downside risks to the baseline scenario, including widening credit spreads and lower valuations in financial markets, were considered to derive a qualitative addition to the provision for the first quarter of 2025. For more information regarding the allowance for credit losses and provision for credit losses, see Table 10 in this report.

    Management believes the allowance for credit losses is appropriate to account for expected credit losses. The Company is required to estimate expected credit losses over the life of the Company’s financial assets as of the reporting date. There can be no assurances, however, that future losses will not significantly exceed the amounts provided for, thereby affecting future results of operations. A summary of the allowance for credit losses calculated for the loan components in each portfolio as of March 31, 2025, December 31, 2024, and September 30, 2024 is shown on Table 11 of this report.

    Net charge-offs totaled $12.6 million in the first quarter of 2025, a decrease of $3.3 million as compared to $15.9 million of net charge-offs in the fourth quarter of 2024. Net charge-offs as a percentage of average total loans were 11 basis points in the first quarter of 2025 on an annualized basis, compared to 13 basis points on an annualized basis in the fourth quarter of 2024. For more information regarding net charge-offs, see Table 9 in this report.

    The Company’s delinquency rates remain low and manageable. For more information regarding past due loans, see Table 12 in this report.

    Non-performing assets and non-performing loans have remained relatively stable compared to prior quarters. Non-performing assets totaled $195.0 million and comprised 0.30% of total assets as of March 31, 2025, as compared to $193.9 million, or 0.30% of total assets, as of December 31, 2024. Non-performing loans totaled $172.4 million and comprised 0.35% of total loans at March 31, 2025, as compared to $170.8 million and 0.36% of total loans at December 31, 2024. For more information regarding non-performing assets, see Table 13 in this report.

    NON-INTEREST INCOME

    Non-interest income totaled $116.6 million in the first quarter of 2025, increasing $3.2 million, as compared to $113.5 million in the fourth quarter of 2024.

    Wealth management revenue decreased by $4.7 million in the first quarter of 2025, as compared to the fourth quarter of 2024. Revenue in the first quarter of 2025 was impacted by the transition of systems and support for brokerage and certain private client business to a new third party in the current quarter, as well as lower assets under management due to lower market valuations. The reduction in revenue was driven by anticipated slowdown in activity from the transition, market conditions, and certain offsets to expenses. Wealth management revenue is comprised of the trust and asset management revenue of Wintrust Private Trust Company and Great Lakes Advisors, the brokerage commissions, managed money fees and insurance product commissions at Wintrust Investments and fees from tax-deferred like-kind exchange services provided by the Chicago Deferred Exchange Company.

    Mortgage banking revenue totaling $20.5 million in the first quarter of 2025 was essentially unchanged compared to the fourth quarter of 2024. For more information regarding mortgage banking revenue, see Table 15 in this report.

    The Company recognized $19.4 million in service charges on deposit accounts in the first quarter of 2025, as compared to $18.9 million in the fourth quarter of 2024. The $0.5 million increase in the first quarter of 2025 was primarily due to increased commercial account fees.

    The Company recognized $3.2 million in net gains on investment securities in the first quarter of 2025 as compared to $2.8 million in net losses in the fourth quarter of 2024. The net gains in the first quarter of 2025 were primarily the result of unrealized gains on the Company’s equity investment securities with a readily determinable fair value.

    For more information regarding non-interest income, see Table 14 in this report.

    NON-INTEREST EXPENSE

    Non-interest expenses totaled $366.1 million in the first quarter of 2025, decreasing $2.4 million as compared to $368.5 million in the fourth quarter of 2024.

    Salaries and employee benefits expense decreased by $0.6 million in the first quarter of 2025 as compared to the fourth quarter of 2024. This was primarily driven by decreased commissions and incentives compensation expense related to lower mortgage originations and wealth management revenue in the quarter partially offset by higher salaries expense which can be attributed to annual merit increases taking effect in the first quarter of the year.

    Advertising and marketing expenses in the first quarter of 2025 totaled $12.3 million, which was a $0.8 million decrease as compared to the fourth quarter of 2024. The reduction in the first quarter is primarily due to timing of marketing campaigns, sponsorship arrangements and other investments.

    Professional fees expense totaled $9.0 million in the first quarter of 2025, resulting in a decrease of $2.3 million as compared to the fourth quarter of 2024. The decrease in the current quarter relates primarily to decreased fees on consulting services. Professional fees include legal, audit, and tax fees, external loan review costs, consulting arrangements and normal regulatory exam assessments.

    Travel and entertainment expense totaled $5.3 million in the first quarter of 2025 which decreased $2.9 million as compared to the fourth quarter of 2024. The decrease is primarily due to seasonal corporate events that occur during the fourth quarter.

    The Macatawa Bank acquisition related costs were $2.7 million in the first quarter of 2025, primarily driven by consulting expenses, employee retention and severance costs, and contracted resource costs.

    For more information regarding non-interest expense, see Table 16 in this report.

    INCOME TAXES

    The Company recorded income tax expense of $64.0 million in the first quarter compared to $67.7 million in the fourth quarter of 2024. The effective tax rates were 25.30% in the first quarter of 2025 compared to 26.76% in the fourth quarter of 2024. The effective tax rates were partially impacted by the tax effects related to share-based compensation, which fluctuate based on the Company’s stock price and timing of employee stock option exercises and vesting of other share-based awards. The Company recorded net excess tax benefits of $3.7 million in the first quarter of 2025, compared to excess tax benefits of $50,000 in the fourth quarter of 2024 related to share-based compensation.

    BUSINESS SUMMARY

    Community Banking

    Through community banking, the Company provides banking and financial services primarily to individuals, small to mid-sized businesses, local governmental units and institutional clients residing primarily in the local areas the Company services. In the first quarter of 2025, community banking increased its commercial, commercial real estate and residential real estate loan portfolios.

    Mortgage banking revenue was $20.5 million for both the first quarter of 2025, and the fourth quarter of 2024. See Table 15 for more detail. Service charges on deposit accounts totaled $19.4 million in the first quarter of 2025 as compared to $18.9 million in the fourth quarter of 2024. The Company’s gross commercial and commercial real estate loan pipelines remained solid as of March 31, 2025 indicating momentum for expected continued loan growth in the second quarter of 2025.

    Specialty Finance

    Through specialty finance, the Company offers financing of insurance premiums for businesses and individuals, equipment financing through structured loans and lease products to customers in a variety of industries, accounts receivable financing and value-added, out-sourced administrative services and other services. Originations within the insurance premium financing receivables portfolios were $4.8 billion during the first quarter of 2025. Average balances increased by $213.4 million, as compared to the fourth quarter of 2024. The Company’s leasing divisions’ portfolio balances increased in the first quarter of 2025, with capital leases, loans, and equipment on operating leases of $2.7 billion, $1.1 billion, and $280.5 million as of March 31, 2025 respectively, as compared to $2.5 billion, $1.1 billion, and $278.3 million as of December 31, 2024, respectively. Revenues from the Company’s out-sourced administrative services business were $1.4 million in the first quarter of 2025, which was relatively stable compared to the fourth quarter of 2024.

    Wealth Management

    Through wealth management, the Company offers a full range of wealth management services, including trust and investment services, tax-deferred like-kind exchange services, asset management, and securities brokerage services. See “Items Impacting Comparative Results,” regarding the sale of the Company’s Retirement Benefits Advisors (“RBA”) division during the first quarter of 2024. Wealth management revenue totaled $34.0 million in the first quarter of 2025, down slightly as compared to the fourth quarter of 2024. At March 31, 2025, the Company’s wealth management subsidiaries had approximately $51.1 billion of assets under administration, which included $8.4 billion of assets owned by the Company and its subsidiary banks.

    ITEMS IMPACTING COMPARATIVE FINANCIAL RESULTS

    Business Combination

    On August 1, 2024, the Company completed its previously announced acquisition of Macatawa, the parent company of Macatawa Bank. In conjunction with the completed acquisition, the Company issued approximately 4.7 million shares of common stock. Macatawa operates 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties in the state of Michigan. Macatawa offers a full range of banking, retail and commercial lending, wealth management and ecommerce services to individuals, businesses and governmental entities. As of August 1, 2024, Macatawa had fair values of approximately $2.9 billion in assets, $2.3 billion in deposits and $1.3 billion in loans. As of March 31, 2025, the Company recorded goodwill of approximately $142.1 million on the purchase.

    Division Sale

    In the first quarter of 2024, the Company sold its RBA division and recorded a net gain of approximately $19.3 million ($20.0 million in other non-interest income from the sale, offset by $0.7 million in commissions/incentive compensation expense).

    WINTRUST FINANCIAL CORPORATION
    Key Operating Measures

    Wintrust’s key operating measures and growth rates for the first quarter of 2025, as compared to the fourth quarter of 2024 (sequential quarter) and first quarter of 2024 (linked quarter), are shown in the table below:

                  % or (1)basis point (bp) change  from
    4th Quarter
    2024    		   % or basis point (bp) change from
    1st Quarter
    2024
        Three Months Ended  
    (Dollars in thousands, except per share data)   Mar 31, 2025   Dec 31, 2024   Mar 31, 2024  
    Net income   $ 189,039     $ 185,362     $ 187,294   2   %   1   %
    Pre-tax income, excluding provision for credit losses (non-GAAP) (2)     277,018       270,060       271,629   3       2    
    Net income per common share – Diluted     2.69       2.63       2.89   2       (7 )  
    Cash dividends declared per common share     0.50       0.45       0.45   11       11    
    Net revenue (3)     643,108       638,599       604,774   1       6    
    Net interest income     526,474       525,148       464,194   0       13    
    Net interest margin     3.54 %     3.49 %     3.57 % 5   bps   (3 ) bps
    Net interest margin – fully taxable-equivalent (non-GAAP) (2)     3.56       3.51       3.59   5       (3 )  
    Net overhead ratio (4)     1.58       1.60       1.39   (2 )     19    
    Return on average assets     1.20       1.16       1.35   4       (15 )  
    Return on average common equity     12.21       11.82       14.42   39       (221 )  
    Return on average tangible common equity (non-GAAP) (2)     14.72       14.29       16.75   43       (203 )  
    At end of period                      
    Total assets   $ 65,870,066     $ 64,879,668     $ 57,576,933   6   %   14   %
    Total loans (5)     48,708,390       48,055,037       43,230,706   6       13    
    Total deposits     53,570,038       52,512,349       46,448,858   8       15    
    Total shareholders’ equity     6,600,537       6,344,297       5,436,400   16       21    

    (1)   Period-end balance sheet percentage changes are annualized.
    (2)   See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
    (3)   Net revenue is net interest income plus non-interest income.
    (4)   The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
    (5)   Excludes mortgage loans held-for-sale.

    Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. This is done for analytical purposes to better discern, for decision-making purposes, underlying performance trends when compared to full-year or year-over-year amounts. For example, a 5% growth rate for a quarter would represent an annualized 20% growth rate. Additional supplemental financial information showing quarterly trends can be found on the Company’s website at www.wintrust.com by choosing “Financial Reports” under the “Investor Relations” heading, and then choosing “Financial Highlights.”


    WINTRUST FINANCIAL CORPORATION
    Selected Financial Highlights

        Three Months Ended
    (Dollars in thousands, except per share data)   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024
    Selected Financial Condition Data (at end of period):
    Total assets   $ 65,870,066     $ 64,879,668     $ 63,788,424     $ 59,781,516     $ 57,576,933  
    Total loans (1)     48,708,390       48,055,037       47,067,447       44,675,531       43,230,706  
    Total deposits     53,570,038       52,512,349       51,404,966       48,049,026       46,448,858  
    Total shareholders’ equity     6,600,537       6,344,297       6,399,714       5,536,628       5,436,400  
    Selected Statements of Income Data:                    
    Net interest income   $ 526,474     $ 525,148     $ 502,583     $ 470,610     $ 464,194  
    Net revenue (2)     643,108       638,599       615,730       591,757       604,774  
    Net income     189,039       185,362       170,001       152,388       187,294  
    Pre-tax income, excluding provision for credit losses (non-GAAP) (3)     277,018       270,060       255,043       251,404       271,629  
    Net income per common share – Basic     2.73       2.68       2.51       2.35       2.93  
    Net income per common share – Diluted     2.69       2.63       2.47       2.32       2.89  
    Cash dividends declared per common share     0.50       0.45       0.45       0.45       0.45  
    Selected Financial Ratios and Other Data:                    
    Performance Ratios:                    
    Net interest margin     3.54 %     3.49 %     3.49 %     3.50 %     3.57 %
    Net interest margin – fully taxable-equivalent (non-GAAP) (3)     3.56       3.51       3.51       3.52       3.59  
    Non-interest income to average assets     0.74       0.71       0.74       0.85       1.02  
    Non-interest expense to average assets     2.32       2.31       2.36       2.38       2.41  
    Net overhead ratio (4)     1.58       1.60       1.62       1.53       1.39  
    Return on average assets     1.20       1.16       1.11       1.07       1.35  
    Return on average common equity     12.21       11.82       11.63       11.61       14.42  
    Return on average tangible common equity (non-GAAP) (3)     14.72       14.29       13.92       13.49       16.75  
    Average total assets   $ 64,107,042     $ 63,594,105     $ 60,915,283     $ 57,493,184     $ 55,602,695  
    Average total shareholders’ equity     6,460,941       6,418,403       5,990,429       5,450,173       5,440,457  
    Average loans to average deposits ratio     92.3 %     91.9 %     93.8 %     95.1 %     94.5 %
    Period-end loans to deposits ratio     90.9       91.5       91.6       93.0       93.1  
    Common Share Data at end of period:                    
    Market price per common share   $ 112.46     $ 124.71     $ 108.53     $ 98.56     $ 104.39  
    Book value per common share     92.47       89.21       90.06       82.97       81.38  
    Tangible book value per common share (non-GAAP) (3)     78.83       75.39       76.15       72.01       70.40  
    Common shares outstanding     66,919,325       66,495,227       66,481,543       61,760,139       61,736,715  
    Other Data at end of period:                    
    Common equity to assets ratio     9.4 %     9.1 %     9.4 %     8.6 %     8.7 %
    Tangible common equity ratio (non-GAAP) (3)     8.1       7.8       8.1       7.5       7.6  
    Tier 1 leverage ratio (5)     9.6       9.4       9.6       9.3       9.4  
    Risk-based capital ratios:                    
    Tier 1 capital ratio (5)     10.8       10.7       10.6       10.3       10.3  
    Common equity tier 1 capital ratio (5)     10.1       9.9       9.8       9.5       9.5  
    Total capital ratio (5)     12.5       12.3       12.2       12.1       12.2  
    Allowance for credit losses (6)   $ 448,387     $ 437,060     $ 436,193     $ 437,560     $ 427,504  
    Allowance for loan and unfunded lending-related commitment losses to total loans     0.92 %     0.91 %     0.93 %     0.98 %     0.99 %
    Number of:                    
    Bank subsidiaries     16       16       16       15       15  
    Banking offices     208       205       203       177       176  

    (1)   Excludes mortgage loans held-for-sale.
    (2)   Net revenue is net interest income plus non-interest income.
    (3)   See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
    (4)   The net overhead ratio is calculated by netting total non-interest expense and total non-interest income, annualizing this amount, and dividing by that period’s average total assets. A lower ratio indicates a higher degree of efficiency.
    (5)   Capital ratios for current quarter-end are estimated.
    (6)   The allowance for credit losses includes the allowance for loan losses, the allowance for unfunded lending-related commitments and the allowance for held-to-maturity securities losses.


    WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CONDITION

        (Unaudited)       (Unaudited)   (Unaudited)   (Unaudited)
        Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)     2025       2024       2024       2024       2024  
    Assets                    
    Cash and due from banks   $ 616,216     $ 452,017     $ 725,465     $ 415,462     $ 379,825  
    Federal funds sold and securities purchased under resale agreements     63       6,519       5,663       62       61  
    Interest-bearing deposits with banks     4,238,237       4,409,753       3,648,117       2,824,314       2,131,077  
    Available-for-sale securities, at fair value     4,220,305       4,141,482       3,912,232       4,329,957       4,387,598  
    Held-to-maturity securities, at amortized cost     3,564,490       3,613,263       3,677,420       3,755,924       3,810,015  
    Trading account securities     —       4,072       3,472       4,134       2,184  
    Equity securities with readily determinable fair value     270,442       215,412       125,310       112,173       119,777  
    Federal Home Loan Bank and Federal Reserve Bank stock     281,893       281,407       266,908       256,495       224,657  
    Brokerage customer receivables     —       18,102       16,662       13,682       13,382  
    Mortgage loans held-for-sale, at fair value     316,804       331,261       461,067       411,851       339,884  
    Loans, net of unearned income     48,708,390       48,055,037       47,067,447       44,675,531       43,230,706  
    Allowance for loan losses     (378,207 )     (364,017 )     (360,279 )     (363,719 )     (348,612 )
    Net loans     48,330,183       47,691,020       46,707,168       44,311,812       42,882,094  
    Premises, software and equipment, net     776,679       779,130       772,002       722,295       744,769  
    Lease investments, net     280,472       278,264       270,171       275,459       283,557  
    Accrued interest receivable and other assets     1,598,255       1,739,334       1,721,090       1,671,334       1,580,142  
    Trade date securities receivable     463,023       —       551,031       —       —  
    Goodwill     796,932       796,942       800,780       655,955       656,181  
    Other acquisition-related intangible assets     116,072       121,690       123,866       20,607       21,730  
    Total assets   $ 65,870,066     $ 64,879,668     $ 63,788,424     $ 59,781,516     $ 57,576,933  
    Liabilities and Shareholders’ Equity                    
    Deposits:                    
    Non-interest-bearing   $ 11,201,859     $ 11,410,018     $ 10,739,132     $ 10,031,440     $ 9,908,183  
    Interest-bearing     42,368,179       41,102,331       40,665,834       38,017,586       36,540,675  
    Total deposits     53,570,038       52,512,349       51,404,966       48,049,026       46,448,858  
    Federal Home Loan Bank advances     3,151,309       3,151,309       3,171,309       3,176,309       2,676,751  
    Other borrowings     529,269       534,803       647,043       606,579       575,408  
    Subordinated notes     298,360       298,283       298,188       298,113       437,965  
    Junior subordinated debentures     253,566       253,566       253,566       253,566       253,566  
    Accrued interest payable and other liabilities     1,466,987       1,785,061       1,613,638       1,861,295       1,747,985  
    Total liabilities     59,269,529       58,535,371       57,388,710       54,244,888       52,140,533  
    Shareholders’ Equity:                    
    Preferred stock     412,500       412,500       412,500       412,500       412,500  
    Common stock     67,007       66,560       66,546       61,825       61,798  
    Surplus     2,494,347       2,482,561       2,470,228       1,964,645       1,954,532  
    Treasury stock     (9,156 )     (6,153 )     (6,098 )     (5,760 )     (5,757 )
    Retained earnings     4,045,854       3,897,164       3,748,715       3,615,616       3,498,475  
    Accumulated other comprehensive loss     (410,015 )     (508,335 )     (292,177 )     (512,198 )     (485,148 )
    Total shareholders’ equity     6,600,537       6,344,297       6,399,714       5,536,628       5,436,400  
    Total liabilities and shareholders’ equity   $ 65,870,066     $ 64,879,668     $ 63,788,424     $ 59,781,516     $ 57,576,933  

    WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

      Three Months Ended
    (Dollars in thousands, except per share data) Mar 31,
    2025    		   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024
    Interest income                  
    Interest and fees on loans $ 768,362     $ 789,038     $ 794,163     $ 749,812     $ 710,341  
    Mortgage loans held-for-sale   4,246       5,623       6,233       5,434       4,146  
    Interest-bearing deposits with banks   36,766       46,256       32,608       19,731       16,658  
    Federal funds sold and securities purchased under resale agreements   179       53       277       17       19  
    Investment securities   72,016       67,066       69,592       69,779       69,678  
    Trading account securities   11       6       11       13       18  
    Federal Home Loan Bank and Federal Reserve Bank stock   5,307       5,157       5,451       4,974       4,478  
    Brokerage customer receivables   78       302       269       219       175  
    Total interest income   886,965       913,501       908,604       849,979       805,513  
    Interest expense                  
    Interest on deposits   320,233       346,388       362,019       335,703       299,532  
    Interest on Federal Home Loan Bank advances   25,441       26,050       26,254       24,797       22,048  
    Interest on other borrowings   6,792       7,519       9,013       8,700       9,248  
    Interest on subordinated notes   3,714       3,733       3,712       5,185       5,487  
    Interest on junior subordinated debentures   4,311       4,663       5,023       4,984       5,004  
    Total interest expense   360,491       388,353       406,021       379,369       341,319  
    Net interest income   526,474       525,148       502,583       470,610       464,194  
    Provision for credit losses   23,963       16,979       22,334       40,061       21,673  
    Net interest income after provision for credit losses   502,511       508,169       480,249       430,549       442,521  
    Non-interest income                  
    Wealth management   34,042       38,775       37,224       35,413       34,815  
    Mortgage banking   20,529       20,452       15,974       29,124       27,663  
    Service charges on deposit accounts   19,362       18,864       16,430       15,546       14,811  
    Gains (losses) on investment securities, net   3,196       (2,835 )     3,189       (4,282 )     1,326  
    Fees from covered call options   3,446       2,305       988       2,056       4,847  
    Trading (losses) gains, net   (64 )     (113 )     (130 )     70       677  
    Operating lease income, net   15,287       15,327       15,335       13,938       14,110  
    Other   20,836       20,676       24,137       29,282       42,331  
    Total non-interest income   116,634       113,451       113,147       121,147       140,580  
    Non-interest expense                  
    Salaries and employee benefits   211,526       212,133       211,261       198,541       195,173  
    Software and equipment   34,717       34,258       31,574       29,231       27,731  
    Operating lease equipment   10,471       10,263       10,518       10,834       10,683  
    Occupancy, net   20,778       20,597       19,945       19,585       19,086  
    Data processing   11,274       10,957       9,984       9,503       9,292  
    Advertising and marketing   12,272       13,097       18,239       17,436       13,040  
    Professional fees   9,044       11,334       9,783       9,967       9,553  
    Amortization of other acquisition-related intangible assets   5,618       5,773       4,042       1,122       1,158  
    FDIC insurance   10,926       10,640       10,512       10,429       14,537  
    OREO expenses, net   643       397       (938 )     (259 )     392  
    Other   38,821       39,090       35,767       33,964       32,500  
    Total non-interest expense   366,090       368,539       360,687       340,353       333,145  
    Income before taxes   253,055       253,081       232,709       211,343       249,956  
    Income tax expense   64,016       67,719       62,708       58,955       62,662  
    Net income $ 189,039     $ 185,362     $ 170,001     $ 152,388     $ 187,294  
    Preferred stock dividends   6,991       6,991       6,991       6,991       6,991  
    Net income applicable to common shares $ 182,048     $ 178,371     $ 163,010     $ 145,397     $ 180,303  
    Net income per common share – Basic $ 2.73     $ 2.68     $ 2.51     $ 2.35     $ 2.93  
    Net income per common share – Diluted $ 2.69     $ 2.63     $ 2.47     $ 2.32     $ 2.89  
    Cash dividends declared per common share $ 0.50     $ 0.45     $ 0.45     $ 0.45     $ 0.45  
    Weighted average common shares outstanding   66,726       66,491       64,888       61,839       61,481  
    Dilutive potential common shares   923       1,233       1,053       926       928  
    Average common shares and dilutive common shares   67,649       67,724       65,941       62,765       62,409  

    TABLE 1: LOAN PORTFOLIO MIX AND GROWTH RATES

                        % Growth From
    (Dollars in thousands) Mar 31,
    2025    		   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		 Dec 31,
    2024 (1)    		   Mar 31,
    2024
    Balance:                        
    Mortgage loans held-for-sale, excluding early buy-out exercised loans guaranteed by U.S. government agencies $ 181,580     $ 189,774     $ 314,693     $ 281,103     $ 193,064   (18 )%   (6 )%
    Mortgage loans held-for-sale, early buy-out exercised loans guaranteed by U.S. government agencies   135,224       141,487       146,374       130,748       146,820   (18 )   (8 )
    Total mortgage loans held-for-sale $ 316,804     $ 331,261     $ 461,067     $ 411,851     $ 339,884   (18 )%   (7 )%
                             
    Core loans:                        
    Commercial                        
    Commercial and industrial $ 6,871,206     $ 6,867,422     $ 6,774,683     $ 6,236,290     $ 6,117,004   0 %   12 %
    Asset-based lending   1,701,962       1,611,001       1,709,685       1,465,867       1,355,255   23     26  
    Municipal   798,646       826,653       827,125       747,357       721,526   (14 )   11  
    Leases   2,680,943       2,537,325       2,443,721       2,439,128       2,344,295   23     14  
    Commercial real estate                        
    Residential construction   55,849       48,617       73,088       55,019       57,558   60     (3 )
    Commercial construction   2,086,797       2,065,775       1,984,240       1,866,701       1,748,607   4     19  
    Land   306,235       319,689       346,362       338,831       344,149   (17 )   (11 )
    Office   1,641,555       1,656,109       1,675,286       1,585,312       1,566,748   (4 )   5  
    Industrial   2,677,555       2,628,576       2,527,932       2,307,455       2,190,200   8     22  
    Retail   1,402,837       1,374,655       1,404,586       1,365,753       1,366,415   8     3  
    Multi-family   3,091,314       3,125,505       3,193,339       2,988,940       2,922,432   (4 )   6  
    Mixed use and other   1,652,759       1,685,018       1,588,584       1,439,186       1,437,328   (8 )   15  
    Home equity   455,683       445,028       427,043       356,313       340,349   10     34  
    Residential real estate                        
    Residential real estate loans for investment   3,561,417       3,456,009       3,252,649       2,933,157       2,746,916   12     30  
    Residential mortgage loans, early buy-out eligible loans guaranteed by U.S. government agencies   86,952       114,985       92,355       88,503       90,911   (99 )   (4 )
    Residential mortgage loans, early buy-out exercised loans guaranteed by U.S. government agencies   36,790       41,771       43,034       45,675       52,439   (48 )   (30 )
    Total core loans $ 29,108,500     $ 28,804,138     $ 28,363,712     $ 26,259,487     $ 25,402,132   4 %   15 %
                             
    Niche loans:                        
    Commercial                        
    Franchise $ 1,262,555     $ 1,268,521     $ 1,191,686     $ 1,150,460     $ 1,122,302   (2 )%   12 %
    Mortgage warehouse lines of credit   1,019,543       893,854       750,462       593,519       403,245   57     NM
    Community Advantage – homeowners association   525,492       525,446       501,645       491,722       475,832   0     10  
    Insurance agency lending   1,070,979       1,044,329       1,048,686       1,030,119       964,022   10     11  
    Premium Finance receivables                        
    U.S. property & casualty insurance   6,486,663       6,447,625       6,253,271       6,142,654       6,113,993   2     6  
    Canada property & casualty insurance   753,199       824,417       878,410       958,099       826,026   (35 )   (9 )
    Life insurance   8,365,140       8,147,145       7,996,899       7,962,115       7,872,033   11     6  
    Consumer and other   116,319       99,562       82,676       87,356       51,121   68     NM
    Total niche loans $ 19,599,890     $ 19,250,899     $ 18,703,735     $ 18,416,044     $ 17,828,574   7 %   10 %
                             
    Total loans, net of unearned income $ 48,708,390     $ 48,055,037     $ 47,067,447     $ 44,675,531     $ 43,230,706   6 %   13 %

    (1)   Annualized.


    TABLE 2: DEPOSIT PORTFOLIO MIX AND GROWTH RATES

                        % Growth From
    (Dollars in thousands) Mar 31,
    2025    		   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		 Dec 31,
    2024 (1)    		   Mar 31, 2024
    Balance:                        
    Non-interest-bearing $ 11,201,859     $ 11,410,018     $ 10,739,132     $ 10,031,440     $ 9,908,183   (7 )%   13 %
    NOW and interest-bearing demand deposits   6,340,168       5,865,546       5,466,932       5,053,909       5,720,947   33     11  
    Wealth management deposits (2)   1,408,790       1,469,064       1,303,354       1,490,711       1,347,817   (17 )   5  
    Money market   18,074,733       17,975,191       17,713,726       16,320,017       15,617,717   2     16  
    Savings   6,576,251       6,372,499       6,183,249       5,882,179       5,959,774   13     10  
    Time certificates of deposit   9,968,237       9,420,031       9,998,573       9,270,770       7,894,420   24     26  
    Total deposits $ 53,570,038     $ 52,512,349     $ 51,404,966     $ 48,049,026     $ 46,448,858   8 %   15 %
    Mix:                        
    Non-interest-bearing   21 %     22 %     21 %     21 %     21 %      
    NOW and interest-bearing demand deposits   12       11       11       11       12        
    Wealth management deposits (2)   3       3       3       3       3        
    Money market   34       34       34       34       34        
    Savings   12       12       12       12       13        
    Time certificates of deposit   18       18       19       19       17        
    Total deposits   100 %     100 %     100 %     100 %     100 %      

    (1)   Annualized.
    (2)   Represents deposit balances of the Company’s subsidiary banks from brokerage customers of Wintrust Investments, Chicago Deferred Exchange Company, LLC (“CDEC”), and trust and asset management customers of the Company.


    TABLE 3    : TIME CERTIFICATES OF DEPOSIT MATURITY/RE-PRICING ANALYSIS
    As of March 31, 2025

    (Dollars in thousands)   Total Time
    Certificates of
    Deposit    		   Weighted-Average
    Rate of Maturing
    Time Certificates
    of Deposit
    1-3 months   $ 3,845,120     4.34 %
    4-6 months     2,345,184     3.81  
    7-9 months     2,694,739     3.72  
    10-12 months     711,206     3.62  
    13-18 months     210,063     3.03  
    19-24 months     87,336     2.72  
    24+ months     74,589     2.47  
    Total   $ 9,968,237     3.94 %

    TABLE 4: QUARTERLY AVERAGE BALANCES

        Average Balance for three months ended,
        Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)     2025       2024       2024       2024       2024  
    Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents (1)   $ 3,520,048     $ 3,934,016     $ 2,413,728     $ 1,485,481     $ 1,254,332  
    Investment securities (2)     8,409,735       8,090,271       8,276,576       8,203,764       8,349,796  
    FHLB and FRB stock     281,702       271,825       263,707       253,614       230,648  
    Liquidity management assets (3)   $ 12,211,485     $ 12,296,112     $ 10,954,011     $ 9,942,859     $ 9,834,776  
    Other earning assets (3)(4)     13,140       20,528       17,542       15,257       15,081  
    Mortgage loans held-for-sale     286,710       378,707       376,251       347,236       290,275  
    Loans, net of unearned income (3)(5)     47,833,380       47,153,014       45,920,586       43,819,354       42,129,893  
    Total earning assets (3)   $ 60,344,715     $ 59,848,361     $ 57,268,390     $ 54,124,706     $ 52,270,025  
    Allowance for loan and investment security losses     (375,371 )     (367,238 )     (383,736 )     (360,504 )     (361,734 )
    Cash and due from banks     476,423       470,033       467,333       434,916       450,267  
    Other assets     3,661,275       3,642,949       3,563,296       3,294,066       3,244,137  
    Total assets   $ 64,107,042     $ 63,594,105     $ 60,915,283     $ 57,493,184     $ 55,602,695  
                         
    NOW and interest-bearing demand deposits   $ 6,046,189     $ 5,601,672     $ 5,174,673     $ 4,985,306     $ 5,680,265  
    Wealth management deposits     1,574,480       1,430,163       1,362,747       1,531,865       1,510,203  
    Money market accounts     17,581,141       17,579,395       16,436,111       15,272,126       14,474,492  
    Savings accounts     6,479,444       6,288,727       6,096,746       5,878,844       5,792,118  
    Time deposits     9,406,126       9,702,948       9,598,109       8,546,172       7,148,456  
    Interest-bearing deposits   $ 41,087,380     $ 40,602,905     $ 38,668,386     $ 36,214,313     $ 34,605,534  
    Federal Home Loan Bank advances     3,151,309       3,160,658       3,178,973       3,096,920       2,728,849  
    Other borrowings     582,139       577,786       622,792       587,262       627,711  
    Subordinated notes     298,306       298,225       298,135       410,331       437,893  
    Junior subordinated debentures     253,566       253,566       253,566       253,566       253,566  
    Total interest-bearing liabilities   $ 45,372,700     $ 44,893,140     $ 43,021,852     $ 40,562,392     $ 38,653,553  
    Non-interest-bearing deposits     10,732,156       10,718,738       10,271,613       9,879,134       9,972,646  
    Other liabilities     1,541,245       1,563,824       1,631,389       1,601,485       1,536,039  
    Equity     6,460,941       6,418,403       5,990,429       5,450,173       5,440,457  
    Total liabilities and shareholders’ equity   $ 64,107,042     $ 63,594,105     $ 60,915,283     $ 57,493,184     $ 55,602,695  
                         
    Net free funds/contribution (6)   $ 14,972,015     $ 14,955,221     $ 14,246,538     $ 13,562,314     $ 13,616,472  

    (1)   Includes interest-bearing deposits from banks and securities purchased under resale agreements with original maturities of greater than three months. Cash equivalents include federal funds sold and securities purchased under resale agreements with original maturities of three months or less.
    (2)   Investment securities includes investment securities classified as available-for-sale and held-to-maturity, and equity securities with readily determinable fair values. Equity securities without readily determinable fair values are included within other assets.
    (3)   See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
    (4)   Other earning assets include brokerage customer receivables and trading account securities.
    (5)   Loans, net of unearned income, include non-accrual loans.
    (6)   Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.


    TABLE 5: QUARTERLY NET INTEREST INCOME

        Net Interest Income for three months ended,
        Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)     2025       2024       2024       2024       2024  
    Interest income:                    
    Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents   $ 36,945     $ 46,308     $ 32,885     $ 19,748     $ 16,677  
    Investment securities     72,706       67,783       70,260       70,346       70,228  
    FHLB and FRB stock     5,307       5,157       5,451       4,974       4,478  
    Liquidity management assets (1)   $ 114,958     $ 119,248     $ 108,596     $ 95,068     $ 91,383  
    Other earning assets (1)     92       310       282       235       198  
    Mortgage loans held-for-sale     4,246       5,623       6,233       5,434       4,146  
    Loans, net of unearned income (1)     770,568       791,390       796,637       752,117       712,587  
    Total interest income   $ 889,864     $ 916,571     $ 911,748     $ 852,854     $ 808,314  
                         
    Interest expense:                    
    NOW and interest-bearing demand deposits   $ 33,600     $ 31,695     $ 30,971     $ 32,719     $ 34,896  
    Wealth management deposits     8,606       9,412       10,158       10,294       10,461  
    Money market accounts     146,374       159,945       167,382       155,100       137,984  
    Savings accounts     35,923       38,402       42,892       41,063       39,071  
    Time deposits     95,730       106,934       110,616       96,527       77,120  
    Interest-bearing deposits   $ 320,233     $ 346,388     $ 362,019     $ 335,703     $ 299,532  
    Federal Home Loan Bank advances     25,441       26,050       26,254       24,797       22,048  
    Other borrowings     6,792       7,519       9,013       8,700       9,248  
    Subordinated notes     3,714       3,733       3,712       5,185       5,487  
    Junior subordinated debentures     4,311       4,663       5,023       4,984       5,004  
    Total interest expense   $ 360,491     $ 388,353     $ 406,021     $ 379,369     $ 341,319  
                         
    Less: Fully taxable-equivalent adjustment     (2,899 )     (3,070 )     (3,144 )     (2,875 )     (2,801 )
    Net interest income (GAAP) (2)     526,474       525,148       502,583       470,610       464,194  
    Fully taxable-equivalent adjustment     2,899       3,070       3,144       2,875       2,801  
    Net interest income, fully taxable-equivalent (non-GAAP) (2)   $ 529,373     $ 528,218     $ 505,727     $ 473,485     $ 466,995  

    (1)   Interest income on tax-advantaged loans, trading securities and investment securities reflects a taxable-equivalent adjustment based on the marginal federal corporate tax rate in effect as of the applicable period.
    (2)   See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.


    TABLE 6: QUARTERLY NET INTEREST MARGIN

        Net Interest Margin for three months ended,
        Mar 31,
    2025    		   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024
    Yield earned on:                    
    Interest-bearing deposits with banks, securities purchased under resale agreements and cash equivalents   4.26 %   4.68 %   5.42 %   5.35 %   5.35 %
    Investment securities   3.51     3.33     3.38     3.45     3.38  
    FHLB and FRB stock   7.64     7.55     8.22     7.89     7.81  
    Liquidity management assets   3.82 %   3.86 %   3.94 %   3.85 %   3.74 %
    Other earning assets   2.84     6.01     6.38     6.23     5.25  
    Mortgage loans held-for-sale   6.01     5.91     6.59     6.29     5.74  
    Loans, net of unearned income   6.53     6.68     6.90     6.90     6.80  
    Total earning assets   5.98 %   6.09 %   6.33 %   6.34 %   6.22 %
                         
    Rate paid on:                    
    NOW and interest-bearing demand deposits   2.25 %   2.25 %   2.38 %   2.64 %   2.47 %
    Wealth management deposits   2.22     2.62     2.97     2.70     2.79  
    Money market accounts   3.38     3.62     4.05     4.08     3.83  
    Savings accounts   2.25     2.43     2.80     2.81     2.71  
    Time deposits   4.13     4.38     4.58     4.54     4.34  
    Interest-bearing deposits   3.16 %   3.39 %   3.72 %   3.73 %   3.48 %
    Federal Home Loan Bank advances   3.27     3.28     3.29     3.22     3.25  
    Other borrowings   4.73     5.18     5.76     5.96     5.92  
    Subordinated notes   5.05     4.98     4.95     5.08     5.04  
    Junior subordinated debentures   6.90     7.32     7.88     7.91     7.94  
    Total interest-bearing liabilities   3.22 %   3.44 %   3.75 %   3.76 %   3.55 %
                         
    Interest rate spread (1)(2)   2.76 %   2.65 %   2.58 %   2.58 %   2.67 %
    Less: Fully taxable-equivalent adjustment   (0.02 )   (0.02 )   (0.02 )   (0.02 )   (0.02 )
    Net free funds/contribution (3)   0.80     0.86     0.93     0.94     0.92  
    Net interest margin (GAAP) (2)   3.54 %   3.49 %   3.49 %   3.50 %   3.57 %
    Fully taxable-equivalent adjustment   0.02     0.02     0.02     0.02     0.02  
    Net interest margin, fully taxable-equivalent (non-GAAP) (2)   3.56 %   3.51 %   3.51 %   3.52 %   3.59 %

    (1)   Interest rate spread is the difference between the yield earned on earning assets and the rate paid on interest-bearing liabilities.
    (2)   See Table 17: Supplemental Non-GAAP Financial Measures/Ratios for additional information on this performance measure/ratio.
    (3)   Net free funds are the difference between total average earning assets and total average interest-bearing liabilities. The estimated contribution to net interest margin from net free funds is calculated using the rate paid for total interest-bearing liabilities.


    TABLE 7    : INTEREST RATE SENSITIVITY

    As an ongoing part of its financial strategy, the Company attempts to manage the impact of fluctuations in market interest rates on net interest income. Management measures its exposure to changes in interest rates by modeling many different interest rate scenarios.

    The following interest rate scenarios display the percentage change in net interest income over a one-year time horizon assuming increases and decreases of 100 and 200 basis points as compared to projected net interest income in a scenario with no assumed rate changes. The Static Shock Scenario results incorporate actual cash flows and repricing characteristics for balance sheet instruments following an instantaneous, parallel change in market rates based upon a static (i.e. no growth or constant) balance sheet. Conversely, the Ramp Scenario results incorporate management’s projections of future volume and pricing of each of the product lines following a gradual, parallel change in market rates over twelve months. Actual results may differ from these simulated results due to timing, magnitude, and frequency of interest rate changes as well as changes in market conditions and management strategies. The interest rate sensitivity for both the Static Shock and Ramp Scenario is as follows:

    Static Shock Scenario   +200 Basis
    Points    		   +100 Basis
    Points    		   -100 Basis
    Points    		   -200 Basis
    Points
    Mar 31, 2025   (1.8 )%   (0.6 )%   (0.2 )%   (1.2 )%
    Dec 31, 2024   (1.6 )   (0.6 )   (0.3 )   (1.5 )
    Sep 30, 2024   1.2     1.1     0.4     (0.9 )
    Jun 30, 2024   1.5     1.0     0.6     (0.0 )
    Mar 31, 2024   1.9     1.4     1.5     1.6  
    Ramp Scenario +200 Basis
    Points    		   +100 Basis
    Points    		   -100 Basis
    Points    		     -200 Basis
    Points
    Mar 31, 2025 0.2 %   0.2 %   (0.1 )%   (0.5 )%
    Dec 31, 2024 (0.2 )   (0.0 )   0.0     (0.3 )
    Sep 30, 2024 1.6     1.2     0.7     0.5  
    Jun 30, 2024 1.2     1.0     0.9     1.0  
    Mar 31, 2024 0.8     0.6     1.3     2.0  

    As shown above, the magnitude of potential changes in net interest income in various interest rate scenarios has continued to remain relatively neutral. As the current interest rate cycle progressed, management took action to reposition its sensitivity to interest rates. To this end, management has executed various derivative instruments including collars and receive fixed swaps to hedge variable rate loan exposures and originated a higher percentage of its loan originations in longer-term fixed-rate loans. The Company will continue to monitor current and projected interest rates and may execute additional derivatives to mitigate potential fluctuations in the net interest margin in future periods.


    TABLE 8    : MATURITIES AND SENSITIVITIES TO CHANGES IN INTEREST RATES

      Loans repricing or contractual maturity period
    As of March 31, 2025
    (In thousands)
    		 One year or
    less    		   From one to
    five years    		   From five to fifteen years   After fifteen years   Total
    Commercial                  
    Fixed rate $ 405,736     $ 3,600,171     $ 2,122,563     $ 20,444     $ 6,148,914  
    Variable rate   9,781,709       703       —       —       9,782,412  
    Total commercial $ 10,187,445     $ 3,600,874     $ 2,122,563     $ 20,444     $ 15,931,326  
    Commercial real estate                  
    Fixed rate $ 658,413     $ 2,762,221     $ 365,181     $ 63,593     $ 3,849,408  
    Variable rate   9,054,583       10,843       67       —       9,065,493  
    Total commercial real estate $ 9,712,996     $ 2,773,064     $ 365,248     $ 63,593     $ 12,914,901  
    Home equity                  
    Fixed rate $ 8,881     $ 838     $ —     $ 17     $ 9,736  
    Variable rate   445,947       —       —       —       445,947  
    Total home equity $ 454,828     $ 838     $ —     $ 17     $ 455,683  
    Residential real estate                  
    Fixed rate $ 13,336     $ 4,473     $ 74,883     $ 1,055,143     $ 1,147,835  
    Variable rate   97,815       623,879       1,815,630       —       2,537,324  
    Total residential real estate $ 111,151     $ 628,352     $ 1,890,513     $ 1,055,143     $ 3,685,159  
    Premium finance receivables – property & casualty                  
    Fixed rate $ 7,135,963     $ 103,899     $ —     $ —     $ 7,239,862  
    Variable rate   —       —       —       —       —  
    Total premium finance receivables – property & casualty $ 7,135,963     $ 103,899     $ —     $ —     $ 7,239,862  
    Premium finance receivables – life insurance                  
    Fixed rate $ 350,802     $ 207,832     $ 4,000     $ 4,248     $ 566,882  
    Variable rate   7,798,258       —       —       —       7,798,258  
    Total premium finance receivables – life insurance $ 8,149,060     $ 207,832     $ 4,000     $ 4,248     $ 8,365,140  
    Consumer and other                  
    Fixed rate $ 44,731     $ 7,937     $ 883     $ 914     $ 54,465  
    Variable rate   61,854       —       —       —       61,854  
    Total consumer and other $ 106,585     $ 7,937     $ 883     $ 914     $ 116,319  
                       
    Total per category                  
    Fixed rate $ 8,617,862     $ 6,687,371     $ 2,567,510     $ 1,144,359     $ 19,017,102  
    Variable rate   27,240,166       635,425       1,815,697       —       29,691,288  
    Total loans, net of unearned income $ 35,858,028     $ 7,322,796     $ 4,383,207     $ 1,144,359     $ 48,708,390  
    Less: Existing cash flow hedging derivatives (1)   (6,700,000 )                
    Total loans repricing or maturing in one year or less, adjusted for cash flow hedging activity $ 29,158,028                  
                       
    Variable Rate Loan Pricing by Index:                  
    SOFR tenors (2)                 $ 18,328,835  
    12- month CMT (3)                   6,722,305  
    Prime                   3,420,624  
    Fed Funds                   819,437  
    Other U.S. Treasury tenors                   190,187  
    Other                   209,900  
    Total variable rate                 $ 29,691,288  

    (1)   Excludes cash flow hedges with future effective starting dates.
    (2)   SOFR – Secured Overnight Financing Rate.
    (3)   CMT – Constant Maturity Treasury Rate.

    Graph available at the following link: http://ml.globenewswire.com/Resource/Download/bebf97a7-5d4d-430d-a436-ae832412a4db

    Source: Bloomberg

    As noted in the table on the previous page, the majority of the Company’s portfolio is tied to SOFR and CMT indices which, as shown in the table above, do not mirror the same changes as the Prime rate, which has historically moved when the Federal Reserve raises or lowers interest rates. Specifically, the Company has variable rate loans of $15.4 billion tied to one-month SOFR and $6.7 billion tied to twelve-month CMT. The above chart shows:

        Basis Point (bp) Change in
        1-month
    SOFR    		   12- month CMT   Prime  
    First Quarter 2025   (1 ) bps (13 ) bps 0   bps
    Fourth Quarter 2024   (52 )   18     (50 )  
    Third Quarter 2024   (49 )   (111 )   (50 )  
    Second Quarter 2024   1     6     0    
    First Quarter 2024   (2 )   24     0    

    TABLE 9: ALLOWANCE FOR CREDIT LOSSES

        Three Months Ended
        Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars in thousands)     2025       2024       2024       2024       2024  
    Allowance for credit losses at beginning of period   $ 437,060     $ 436,193     $ 437,560     $ 427,504     $ 427,612  
    Provision for credit losses – Other     23,963       16,979       6,787       40,061       21,673  
    Provision for credit losses – Day 1 on non-PCD assets acquired during the period     —       —       15,547       —       —  
    Initial allowance for credit losses recognized on PCD assets acquired during the period     —       —       3,004       —       —  
    Other adjustments     4       (187 )     30       (19 )     (31 )
    Charge-offs:                    
    Commercial     9,722       5,090       22,975       9,584       11,215  
    Commercial real estate     454       1,037       95       15,526       5,469  
    Home equity     —       —       —       —       74  
    Residential real estate     —       114       —       23       38  
    Premium finance receivables – property & casualty     7,114       13,301       7,790       9,486       6,938  
    Premium finance receivables – life insurance     12       —       4       —       —  
    Consumer and other     147       189       154       137       107  
    Total charge-offs     17,449       19,731       31,018       34,756       23,841  
    Recoveries:                    
    Commercial     929       775       649       950       479  
    Commercial real estate     12       172       30       90       31  
    Home equity     216       194       101       35       29  
    Residential real estate     136       0       5       8       2  
    Premium finance receivables – property & casualty     3,487       2,646       3,436       3,658       1,519  
    Premium finance receivables – life insurance     —       —       41       5       8  
    Consumer and other     29       19       21       24       23  
    Total recoveries     4,809       3,806       4,283       4,770       2,091  
    Net charge-offs     (12,640 )     (15,925 )     (26,735 )     (29,986 )     (21,750 )
    Allowance for credit losses at period end   $ 448,387     $ 437,060     $ 436,193     $ 437,560     $ 427,504  
                         
    Annualized net charge-offs (recoveries) by category as a percentage of its own respective category’s average:
    Commercial     0.23 %     0.11 %     0.61 %     0.25 %     0.33 %
    Commercial real estate     0.01       0.03       0.00       0.53       0.19  
    Home equity     (0.20 )     (0.18 )     (0.10 )     (0.04 )     0.05  
    Residential real estate     (0.02 )     0.01       0.00       0.00       0.01  
    Premium finance receivables – property & casualty     0.20       0.59       0.24       0.33       0.32  
    Premium finance receivables – life insurance     0.00       —       (0.00 )     (0.00 )     (0.00 )
    Consumer and other     0.45       0.63       0.63       0.56       0.42  
    Total loans, net of unearned income     0.11 %     0.13 %     0.23 %     0.28 %     0.21 %
                         
    Loans at period end   $ 48,708,390     $ 48,055,037     $ 47,067,447     $ 44,675,531     $ 43,230,706  
    Allowance for loan losses as a percentage of loans at period end     0.78 %     0.76 %     0.77 %     0.81 %     0.81 %
    Allowance for loan and unfunded lending-related commitment losses as a percentage of loans at period end     0.92       0.91       0.93       0.98       0.99  

    PCD – Purchase Credit Deteriorated


    TABLE 10    : ALLOWANCE AND PROVISION FOR CREDIT LOSSES BY COMPONENT

        Three Months Ended
        Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)     2025       2024       2024       2024       2024  
    Provision for loan losses – Other   $ 26,826     $ 19,852     $ 6,782     $ 45,111     $ 26,159  
    Provision for credit losses – Day 1 on non-PCD assets acquired during the period     —       —       15,547       —       —  
    Provision for unfunded lending-related commitments losses – Other     (2,852 )     (2,851 )     17       (5,212 )     (4,468 )
    Provision for held-to-maturity securities losses     (11 )     (22 )     (12 )     162       (18 )
    Provision for credit losses   $ 23,963     $ 16,979     $ 22,334     $ 40,061     $ 21,673  
                         
    Allowance for loan losses   $ 378,207     $ 364,017     $ 360,279     $ 363,719     $ 348,612  
    Allowance for unfunded lending-related commitments losses     69,734       72,586       75,435       73,350       78,563  
    Allowance for loan losses and unfunded lending-related commitments losses     447,941       436,603       435,714       437,069       427,175  
    Allowance for held-to-maturity securities losses     446       457       479       491       329  
    Allowance for credit losses   $ 448,387     $ 437,060     $ 436,193     $ 437,560     $ 427,504  

    PCD – Purchase Credit Deteriorated 


    TABLE 11: ALLOWANCE BY LOAN PORTFOLIO

    The table below summarizes the calculation of allowance for loan losses and allowance for unfunded lending-related commitments losses for the Company’s loan portfolios as well as core and niche portfolios, as of March 31, 2025, December 31, 2024 and September 30, 2024.

      As of Mar 31, 2025 As of Dec 31, 2024 As of Sep 30, 2024
    (Dollars in thousands) Recorded
    Investment    		   Calculated
    Allowance    		   % of its
    category’s balance    		 Recorded
    Investment    		   Calculated
    Allowance    		   % of its
    category’s balance    		 Recorded
    Investment    		   Calculated
    Allowance    		   % of its
    category’s balance
    Commercial:                              
    Commercial, industrial and other $ 15,931,326   $ 201,183   1.26 % $ 15,574,551   $ 175,837   1.13 % $ 15,247,693   $ 171,598   1.13 %
    Commercial real estate:                              
    Construction and development   2,448,881     71,388   2.92     2,434,081     87,236   3.58     2,403,690     97,949   4.07  
    Non-construction   10,466,020     138,622   1.32     10,469,863     135,620   1.30     10,389,727     133,195   1.28  
    Total commercial real estate $ 12,914,901   $ 210,010   1.63 % $ 12,903,944   $ 222,856   1.73 % $ 12,793,417   $ 231,144   1.81 %
    Total commercial and commercial real estate $ 28,846,227   $ 411,193   1.43 % $ 28,478,495   $ 398,693   1.40 % $ 28,041,110   $ 402,742   1.44 %
    Home equity   455,683     9,139   2.01     445,028     8,943   2.01     427,043     8,823   2.07  
    Residential real estate   3,685,159     10,652   0.29     3,612,765     10,335   0.29     3,388,038     9,745   0.29  
    Premium finance receivables                              
    Property and casualty insurance   7,239,862     15,310   0.21     7,272,042     17,111   0.24     7,131,681     13,045   0.18  
    Life insurance   8,365,140     729   0.01     8,147,145     709   0.01     7,996,899     698   0.01  
    Consumer and other   116,319     918   0.79     99,562     812   0.82     82,676     661   0.80  
    Total loans, net of unearned income $ 48,708,390   $ 447,941   0.92 % $ 48,055,037   $ 436,603   0.91 % $ 47,067,447   $ 435,714   0.93 %
                                   
    Total core loans (1) $ 29,108,500   $ 397,664   1.37 % $ 28,804,138   $ 392,319   1.36 % $ 28,363,712   $ 396,394   1.40 %
    Total niche loans (1)   19,599,890     50,277   0.26     19,250,899     44,284   0.23     18,703,735     39,320   0.21  

    (1)   See Table 1 for additional detail on core and niche loans.


    TABLE 12    : LOAN PORTFOLIO AGING

    (In thousands)   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024
    Loan Balances:                    
    Commercial                    
    Nonaccrual   $ 70,560     $ 73,490     $ 63,826     $ 51,087     $ 31,740  
    90+ days and still accruing     46       104       20       304       27  
    60-89 days past due     15,243       54,844       32,560       16,485       30,248  
    30-59 days past due     97,397       92,551       46,057       36,358       77,715  
    Current     15,748,080       15,353,562       15,105,230       14,050,228       13,363,751  
    Total commercial   $ 15,931,326     $ 15,574,551     $ 15,247,693     $ 14,154,462     $ 13,503,481  
    Commercial real estate                    
    Nonaccrual   $ 26,187     $ 21,042     $ 42,071     $ 48,289     $ 39,262  
    90+ days and still accruing     —       —       225       —       —  
    60-89 days past due     6,995       10,521       13,439       6,555       16,713  
    30-59 days past due     83,653       30,766       48,346       38,065       32,998  
    Current     12,798,066       12,841,615       12,689,336       11,854,288       11,544,464  
    Total commercial real estate   $ 12,914,901     $ 12,903,944     $ 12,793,417     $ 11,947,197     $ 11,633,437  
    Home equity                    
    Nonaccrual   $ 2,070     $ 1,117     $ 1,122     $ 1,100     $ 838  
    90+ days and still accruing     —       —       —       —       —  
    60-89 days past due     984       1,233       1,035       275       212  
    30-59 days past due     3,403       2,148       2,580       1,229       1,617  
    Current     449,226       440,530       422,306       353,709       337,682  
    Total home equity   $ 455,683     $ 445,028     $ 427,043     $ 356,313     $ 340,349  
    Residential real estate                    
    Early buy-out loans guaranteed by U.S. government agencies (1)   $ 123,742     $ 156,756     $ 135,389     $ 134,178     $ 143,350  
    Nonaccrual     22,522       23,762       17,959       18,198       17,901  
    90+ days and still accruing     —       —       —       —       —  
    60-89 days past due     1,351       5,708       6,364       1,977       —  
    30-59 days past due     38,943       18,917       2,160       130       24,523  
    Current     3,498,601       3,407,622       3,226,166       2,912,852       2,704,492  
    Total residential real estate   $ 3,685,159     $ 3,612,765     $ 3,388,038     $ 3,067,335     $ 2,890,266  
    Premium finance receivables – property & casualty                    
    Nonaccrual   $ 29,846     $ 28,797     $ 36,079     $ 32,722     $ 32,648  
    90+ days and still accruing     18,081       16,031       18,235       22,427       25,877  
    60-89 days past due     19,717       19,042       18,740       29,925       15,274  
    30-59 days past due     39,459       68,219       30,204       45,927       59,729  
    Current     7,132,759       7,139,953       7,028,423       6,969,752       6,806,491  
    Total Premium finance receivables – property & casualty   $ 7,239,862     $ 7,272,042     $ 7,131,681     $ 7,100,753     $ 6,940,019  
    Premium finance receivables – life insurance                    
    Nonaccrual   $ —     $ 6,431     $ —     $ —     $ —  
    90+ days and still accruing     2,962       —       —       —       —  
    60-89 days past due     10,587       72,963       10,902       4,118       32,482  
    30-59 days past due     29,924       36,405       74,432       17,693       100,137  
    Current     8,321,667       8,031,346       7,911,565       7,940,304       7,739,414  
    Total Premium finance receivables – life insurance   $ 8,365,140     $ 8,147,145     $ 7,996,899     $ 7,962,115     $ 7,872,033  
    Consumer and other                    
    Nonaccrual   $ 18     $ 2     $ 2     $ 3     $ 19  
    90+ days and still accruing     98       47       148       121       47  
    60-89 days past due     162       59       22       81       16  
    30-59 days past due     542       882       264       366       210  
    Current     115,499       98,572       82,240       86,785       50,829  
    Total consumer and other   $ 116,319     $ 99,562     $ 82,676     $ 87,356     $ 51,121  
    Total loans, net of unearned income                    
    Early buy-out loans guaranteed by U.S. government agencies (1)   $ 123,742     $ 156,756     $ 135,389     $ 134,178     $ 143,350  
    Nonaccrual     151,203       154,641       161,059       151,399       122,408  
    90+ days and still accruing     21,187       16,182       18,628       22,852       25,951  
    60-89 days past due     55,039       164,370       83,062       59,416       94,945  
    30-59 days past due     293,321       249,888       204,043       139,768       296,929  
    Current     48,063,898       47,313,200       46,465,266       44,167,918       42,547,123  
    Total loans, net of unearned income   $ 48,708,390     $ 48,055,037     $ 47,067,447     $ 44,675,531     $ 43,230,706  

    (1)   Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.


    TABLE 13:     NON-PERFORMING ASSETS(1)

      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars in thousands)   2025       2024       2024       2024       2024  
    Loans past due greater than 90 days and still accruing:                  
    Commercial $ 46     $ 104     $ 20     $ 304     $ 27  
    Commercial real estate   —       —       225       —       —  
    Home equity   —       —       —       —       —  
    Residential real estate   —       —       —       —       —  
    Premium finance receivables – property & casualty   18,081       16,031       18,235       22,427       25,877  
    Premium finance receivables – life insurance   2,962       —       —       —       —  
    Consumer and other   98       47       148       121       47  
    Total loans past due greater than 90 days and still accruing   21,187       16,182       18,628       22,852       25,951  
    Non-accrual loans:                  
    Commercial   70,560       73,490       63,826       51,087       31,740  
    Commercial real estate   26,187       21,042       42,071       48,289       39,262  
    Home equity   2,070       1,117       1,122       1,100       838  
    Residential real estate   22,522       23,762       17,959       18,198       17,901  
    Premium finance receivables – property & casualty   29,846       28,797       36,079       32,722       32,648  
    Premium finance receivables – life insurance   —       6,431       —       —       —  
    Consumer and other   18       2       2       3       19  
    Total non-accrual loans   151,203       154,641       161,059       151,399       122,408  
    Total non-performing loans:                  
    Commercial   70,606       73,594       63,846       51,391       31,767  
    Commercial real estate   26,187       21,042       42,296       48,289       39,262  
    Home equity   2,070       1,117       1,122       1,100       838  
    Residential real estate   22,522       23,762       17,959       18,198       17,901  
    Premium finance receivables – property & casualty   47,927       44,828       54,314       55,149       58,525  
    Premium finance receivables – life insurance   2,962       6,431       —       —       —  
    Consumer and other   116       49       150       124       66  
    Total non-performing loans $ 172,390     $ 170,823     $ 179,687     $ 174,251     $ 148,359  
    Other real estate owned   22,625       23,116       13,682       19,731       14,538  
    Total non-performing assets $ 195,015     $ 193,939     $ 193,369     $ 193,982     $ 162,897  
    Total non-performing loans by category as a percent of its own respective category’s period-end balance:                  
    Commercial   0.44 %     0.47 %     0.42 %     0.36 %     0.24 %
    Commercial real estate   0.20       0.16       0.33       0.40       0.34  
    Home equity   0.45       0.25       0.26       0.31       0.25  
    Residential real estate   0.61       0.66       0.53       0.59       0.62  
    Premium finance receivables – property & casualty   0.66       0.62       0.76       0.78       0.84  
    Premium finance receivables – life insurance   0.04       0.08       —       —       —  
    Consumer and other   0.10       0.05       0.18       0.14       0.13  
    Total loans, net of unearned income   0.35 %     0.36 %     0.38 %     0.39 %     0.34 %
    Total non-performing assets as a percentage of total assets   0.30 %     0.30 %     0.30 %     0.32 %     0.28 %
    Allowance for loan losses and unfunded lending-related commitments losses as a percentage of non-accrual loans   296.25 %     282.33 %     270.53 %     288.69 %     348.98 %
                       

    (1)   Excludes early buy-out loans guaranteed by U.S. government agencies. Early buy-out loans are insured or guaranteed by the Federal Housing Administration or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

    Non-performing Loans Rollforward, excluding early buy-out loans guaranteed by U.S. government agencies

      Three Months Ended
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)   2025       2024       2024       2024       2024  
                       
    Balance at beginning of period $ 170,823     $ 179,687     $ 174,251     $ 148,359     $ 139,030  
    Additions from becoming non-performing in the respective period   27,721       30,931       42,335       54,376       23,142  
    Additions from assets acquired in the respective period   —       —       189       —       —  
    Return to performing status   (1,207 )     (1,108 )     (362 )     (912 )     (490 )
    Payments received   (15,965 )     (12,219 )     (10,894 )     (9,611 )     (8,336 )
    Transfer to OREO and other repossessed assets   —       (17,897 )     (3,680 )     (6,945 )     (1,381 )
    Charge-offs, net   (8,600 )     (5,612 )     (21,211 )     (7,673 )     (14,810 )
    Net change for premium finance receivables   (382 )     (2,959 )     (941 )     (3,343 )     11,204  
    Balance at end of period $ 172,390     $ 170,823     $ 179,687     $ 174,251     $ 148,359  


    Other Real Estate Owned

      Three Months Ended
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (In thousands)   2025       2024       2024       2024       2024  
    Balance at beginning of period $ 23,116     $ 13,682     $ 19,731     $ 14,538     $ 13,309  
    Disposals/resolved   —       (8,545 )     (9,729 )     (1,752 )     —  
    Transfers in at fair value, less costs to sell   —       17,979       3,680       6,945       1,436  
    Fair value adjustments   (491 )     —       —       —       (207 )
    Balance at end of period $ 22,625     $ 23,116     $ 13,682     $ 19,731     $ 14,538  
                       
      Period End
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    Balance by Property Type:   2025       2024       2024       2024       2024  
    Residential real estate $ —     $ —     $ —     $ 161     $ 1,146  
    Commercial real estate   22,625       23,116       13,682       19,570       13,392  
    Total $ 22,625     $ 23,116     $ 13,682     $ 19,731     $ 14,538  

    TABLE 14: NON-INTEREST INCOME

      Three Months Ended Q1 2025 compared to
    Q4 2024    		 Q1 2025 compared to
    Q1 2024
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars in thousands)   2025       2024       2024       2024       2024   $ Change   % Change $ Change   % Change
    Brokerage $ 4,757     $ 5,328     $ 6,139     $ 5,588     $ 5,556   $ (571 )   (11 )% $ (799 )   (14 )%
    Trust and asset management   29,285       33,447       31,085       29,825       29,259     (4,162 )   (12 )   26     0  
    Total wealth management   34,042       38,775       37,224       35,413       34,815     (4,733 )   (12 )   (773 )   (2 )
    Mortgage banking   20,529       20,452       15,974       29,124       27,663     77     0     (7,134 )   (26 )
    Service charges on deposit accounts   19,362       18,864       16,430       15,546       14,811     498     3     4,551     31  
    Gains (losses) on investment securities, net   3,196       (2,835 )     3,189       (4,282 )     1,326     6,031     NM   1,870     NM
    Fees from covered call options   3,446       2,305       988       2,056       4,847     1,141     50     (1,401 )   (29 )
    Trading (losses) gains, net   (64 )     (113 )     (130 )     70       677     49     (43 )   (741 )   NM
    Operating lease income, net   15,287       15,327       15,335       13,938       14,110     (40 )   (0 )   1,177     8  
    Other:                              
    Interest rate swap fees   2,269       3,360       2,914       3,392       2,828     (1,091 )   (32 )   (559 )   (20 )
    BOLI   796       1,236       1,517       1,351       1,651     (440 )   (36 )   (855 )   (52 )
    Administrative services   1,393       1,347       1,450       1,322       1,217     46     3     176     14  
    Foreign currency remeasurement (losses) gains   (183 )     (682 )     696       (145 )     (1,171 )   499     (73 )   988     (84 )
    Changes in fair value on EBOs and loans held-for-investment   383       129       518       604       (439 )   254     NM   822     NM
    Early pay-offs of capital leases   768       514       532       393       430     254     49     338     79  
    Miscellaneous   15,410       14,772       16,510       22,365       37,815     638     4     (22,405 )   (59 )
    Total Other   20,836       20,676       24,137       29,282       42,331     160     1     (21,495 )   (51 )
    Total Non-Interest Income $ 116,634     $ 113,451     $ 113,147     $ 121,147     $ 140,580   $ 3,183     3 % $ (23,946 )   (17 )%

    NM – Not meaningful.
    BOLI- Bank-owned life insurance.
    EBO- Early buy-out.


    TABLE 15: MORTGAGE BANKING

      Three Months Ended
    (Dollars in thousands) Mar 31,
    2025    		   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024
    Originations:                  
    Retail originations $ 348,468     $ 483,424     $ 527,408     $ 544,394     $ 331,504  
    Veterans First originations   111,985       176,914       239,369       177,792       144,109  
    Total originations for sale (A) $ 460,453     $ 660,338     $ 766,777     $ 722,186     $ 475,613  
    Originations for investment   217,177       355,119       218,984       275,331       169,246  
    Total originations $ 677,630     $ 1,015,457     $ 985,761     $ 997,517     $ 644,859  
    As a percentage of originations for sale:                  
    Retail originations   76 %     73 %     69 %     75 %     70 %
    Veterans First originations   24       27       31       25       30  
    Purchases   77 %     65 %     72 %     83 %     75 %
    Refinances   23       35       28       17       25  
    Production Margin:                  
    Production revenue (B) (1) $ 9,941     $ 6,993     $ 13,113     $ 14,990     $ 13,435  
    Total originations for sale (A) $ 460,453     $ 660,338     $ 766,777     $ 722,186     $ 475,613  
    Add: Current period end mandatory interest rate lock commitments to fund originations for sale (2)   197,297       103,946       272,072       222,738       207,775  
    Less: Prior period end mandatory interest rate lock commitments to fund originations for sale (2)   103,946       272,072       222,738       207,775       119,624  
    Total mortgage production volume (C) $ 553,804     $ 492,212     $ 816,111     $ 737,149     $ 563,764  
    Production margin (B / C)   1.80 %     1.42 %     1.61 %     2.03 %     2.38 %
    Mortgage Servicing:                  
    Loans serviced for others (D) $ 12,402,352     $ 12,400,913     $ 12,253,361     $ 12,211,027     $ 12,051,392  
    Mortgage Servicing Rights (“MSR”), at fair value (E)   196,307       203,788       186,308       204,610       201,044  
    Percentage of MSRs to loans serviced for others (E / D)   1.58 %     1.64 %     1.52 %     1.68 %     1.67 %
    Servicing income $ 10,611     $ 10,731     $ 10,809     $ 10,586     $ 10,498  
    MSR Fair Value Asset Activity                  
    MSR – FV at Beginning of Period $ 203,788     $ 186,308     $ 204,610     $ 201,044     $ 192,456  
    MSR – current period capitalization   4,669       10,010       6,357       8,223       5,379  
    MSR – collection of expected cash flows – paydowns   (1,590 )     (1,463 )     (1,598 )     (1,504 )     (1,444 )
    MSR – collection of expected cash flows – payoffs and repurchases   (3,046 )     (4,315 )     (5,730 )     (4,030 )     (2,942 )
    MSR – changes in fair value model assumptions   (7,514 )     13,248       (17,331 )     877       7,595  
    MSR Fair Value at end of period $ 196,307     $ 203,788     $ 186,308     $ 204,610     $ 201,044  
    Summary of Mortgage Banking Revenue:                
    Operational:                  
    Production revenue (1) $ 9,941     $ 6,993     $ 13,113     $ 14,990     $ 13,435  
    MSR – Current period capitalization   4,669       10,010       6,357       8,223       5,379  
    MSR – Collection of expected cash flows – paydowns   (1,590 )     (1,463 )     (1,598 )     (1,504 )     (1,444 )
    MSR – Collection of expected cash flows – pay offs   (3,046 )     (4,315 )     (5,730 )     (4,030 )     (2,942 )
    Servicing Income   10,611       10,731       10,809       10,586       10,498  
    Other Revenue   (172 )     (51 )     (67 )     112       (91 )
    Total operational mortgage banking revenue $ 20,413     $ 21,905     $ 22,884     $ 28,377     $ 24,835  
    Fair Value:                  
    MSR – changes in fair value model assumptions $ (7,514 )   $ 13,248     $ (17,331 )   $ 877     $ 7,595  
    Gain (loss) on derivative contract held as an economic hedge, net   4,897       (11,452 )     6,892       (772 )     (2,577 )
    Changes in FV on early buy-out loans guaranteed by US Govt (HFS)   2,733       (3,249 )     3,529       642       (2,190 )
    Total fair value mortgage banking revenue $ 116     $ (1,453 )   $ (6,910 )   $ 747     $ 2,828  
    Total mortgage banking revenue $ 20,529     $ 20,452     $ 15,974     $ 29,124     $ 27,663  

    (1)   Production revenue represents revenue earned from the origination and subsequent sale of mortgages, including gains on loans sold and fees from originations, changes in other related financial instruments carried at fair value, processing and other related activities, and excludes servicing fees, changes in the fair value of servicing rights and changes to the mortgage recourse obligation and other non-production revenue.
    (2)   Certain volume adjusted for the estimated pull-through rate of the loan, which represents the Company’s best estimate of the likelihood that a committed loan will ultimately fund.


    TABLE 16    : NON-INTEREST EXPENSE

      Three Months Ended Q1 2025 compared to
    Q4 2024    		 Q1 2025 compared to
    Q1 2024
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars in thousands)   2025       2024       2024       2024       2024   $ Change   % Change $ Change   % Change
    Salaries and employee benefits:                              
    Salaries $ 123,917     $ 120,969     $ 118,971     $ 113,860     $ 112,172   $ 2,948     2 % $ 11,745     10 %
    Commissions and incentive compensation   52,536       54,792       57,575       52,151       51,001     (2,256 )   (4 )   1,535     3  
    Benefits   35,073       36,372       34,715       32,530       32,000     (1,299 )   (4 )   3,073     10  
    Total salaries and employee benefits   211,526       212,133       211,261       198,541       195,173     (607 )   (0 )   16,353     8  
    Software and equipment   34,717       34,258       31,574       29,231       27,731     459     1     6,986     25  
    Operating lease equipment   10,471       10,263       10,518       10,834       10,683     208     2     (212 )   (2 )
    Occupancy, net   20,778       20,597       19,945       19,585       19,086     181     1     1,692     9  
    Data processing   11,274       10,957       9,984       9,503       9,292     317     3     1,982     21  
    Advertising and marketing   12,272       13,097       18,239       17,436       13,040     (825 )   (6 )   (768 )   (6 )
    Professional fees   9,044       11,334       9,783       9,967       9,553     (2,290 )   (20 )   (509 )   (5 )
    Amortization of other acquisition-related intangible assets   5,618       5,773       4,042       1,122       1,158     (155 )   (3 )   4,460     NM
    FDIC insurance   10,926       10,640       10,512       10,429       9,381     286     3     1,545     16  
    FDIC insurance – special assessment   —       —       —       —       5,156     —     —     (5,156 )   (100 )
    OREO expense, net   643       397       (938 )     (259 )     392     246     62     251     64  
    Other:                              
    Lending expenses, net of deferred origination costs   5,866       6,448       4,995       5,335       5,078     (582 )   (9 )   788     16  
    Travel and entertainment   5,270       8,140       5,364       5,340       4,597     (2,870 )   (35 )   673     15  
    Miscellaneous   27,685       24,502       25,408       23,289       22,825     3,183     13     4,860     21  
    Total other   38,821       39,090       35,767       33,964       32,500     (269 )   (1 )   6,321     19  
    Total Non-Interest Expense $ 366,090     $ 368,539     $ 360,687     $ 340,353     $ 333,145   $ (2,449 )   (1 )% $ 32,945     10 %

    NM – Not meaningful.


    TABLE 17: SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES/RATIOS

    The accounting and reporting policies of Wintrust conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures and ratios are used by management to evaluate and measure the Company’s performance. These include taxable-equivalent net interest income (including its individual components), taxable-equivalent net interest margin (including its individual components), the taxable-equivalent efficiency ratio, tangible common equity ratio, tangible book value per common share, return on average tangible common equity, and pre-tax income, excluding provision for credit losses. Management believes that these measures and ratios provide users of the Company’s financial information a more meaningful view of the performance of the Company’s interest-earning assets and interest-bearing liabilities and of the Company’s operating efficiency. Other financial holding companies may define or calculate these measures and ratios differently.

    Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent basis (“FTE”). In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis using tax rates effective as of the end of the period. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a FTE basis is also used in the calculation of the Company’s efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses), measures how much it costs to produce one dollar of revenue. Securities gains or losses are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity ratio and tangible book value per common share as useful measurements of the Company’s equity. The Company references the return on average tangible common equity as a measurement of profitability. Management considers pre-tax income, excluding provision for credit losses, as a useful measurement of the Company’s core net income.

      Three Months Ended
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars and shares in thousands) 2025   2024   2024   2024   2024
    Reconciliation of Non-GAAP Net Interest Margin and Efficiency Ratio:
    (A) Interest Income (GAAP) $ 886,965     $ 913,501     $ 908,604     $ 849,979     $ 805,513  
    Taxable-equivalent adjustment:                  
    – Loans   2,206       2,352       2,474       2,305       2,246  
    – Liquidity Management Assets   690       716       668       567       550  
    – Other Earning Assets   3       2       2       3       5  
    (B) Interest Income (non-GAAP) $ 889,864     $ 916,571     $ 911,748     $ 852,854     $ 808,314  
    (C) Interest Expense (GAAP)   360,491       388,353       406,021       379,369       341,319  
    (D) Net Interest Income (GAAP) (A minus C) $ 526,474     $ 525,148     $ 502,583     $ 470,610     $ 464,194  
    (E) Net Interest Income (non-GAAP) (B minus C) $ 529,373     $ 528,218     $ 505,727     $ 473,485     $ 466,995  
    Net interest margin (GAAP)   3.54 %     3.49 %     3.49 %     3.50 %     3.57 %
    Net interest margin, fully taxable-equivalent (non-GAAP)   3.56       3.51       3.51       3.52       3.59  
    (F) Non-interest income $ 116,634     $ 113,451     $ 113,147     $ 121,147     $ 140,580  
    (G) Gains (losses) on investment securities, net   3,196       (2,835 )     3,189       (4,282 )     1,326  
    (H) Non-interest expense   366,090       368,539       360,687       340,353       333,145  
    Efficiency ratio (H/(D+F-G))   57.21 %     57.46 %     58.88 %     57.10 %     55.21 %
    Efficiency ratio (non-GAAP) (H/(E+F-G))   56.95       57.18       58.58       56.83       54.95  
      Three Months Ended
      Mar 31,   Dec 31,   Sep 30,   Jun 30,   Mar 31,
    (Dollars and shares in thousands) 2025   2024   2024   2024   2024
    Reconciliation of Non-GAAP Tangible Common Equity Ratio:
    Total shareholders’ equity (GAAP) $ 6,600,537     $ 6,344,297     $ 6,399,714     $ 5,536,628     $ 5,436,400  
    Less: Non-convertible preferred stock (GAAP)   (412,500 )     (412,500 )     (412,500 )     (412,500 )     (412,500 )
    Less: Intangible assets (GAAP)   (913,004 )     (918,632 )     (924,646 )     (676,562 )     (677,911 )
    (I) Total tangible common shareholders’ equity (non-GAAP) $ 5,275,033     $ 5,013,165     $ 5,062,568     $ 4,447,566     $ 4,345,989  
    (J) Total assets (GAAP) $ 65,870,066     $ 64,879,668     $ 63,788,424     $ 59,781,516     $ 57,576,933  
    Less: Intangible assets (GAAP)   (913,004 )     (918,632 )     (924,646 )     (676,562 )     (677,911 )
    (K) Total tangible assets (non-GAAP) $ 64,957,062     $ 63,961,036     $ 62,863,778     $ 59,104,954     $ 56,899,022  
    Common equity to assets ratio (GAAP) (L/J)   9.4 %     9.1 %     9.4 %     8.6 %     8.7 %
    Tangible common equity ratio (non-GAAP) (I/K)   8.1       7.8       8.1       7.5       7.6  
    Reconciliation of Non-GAAP Tangible Book Value per Common Share:
    Total shareholders’ equity $ 6,600,537     $ 6,344,297     $ 6,399,714     $ 5,536,628     $ 5,436,400  
    Less: Preferred stock   (412,500 )     (412,500 )     (412,500 )     (412,500 )     (412,500 )
    (L) Total common equity $ 6,188,037     $ 5,931,797     $ 5,987,214     $ 5,124,128     $ 5,023,900  
    (M) Actual common shares outstanding   66,919       66,495       66,482       61,760       61,737  
    Book value per common share (L/M) $ 92.47     $ 89.21     $ 90.06     $ 82.97     $ 81.38  
    Tangible book value per common share (non-GAAP) (I/M)   78.83       75.39       76.15       72.01       70.40  
                       
    Reconciliation of Non-GAAP Return on Average Tangible Common Equity:
    (N) Net income applicable to common shares $ 182,048     $ 178,371     $ 163,010     $ 145,397     $ 180,303  
    Add: Intangible asset amortization   5,618       5,773       4,042       1,122       1,158  
    Less: Tax effect of intangible asset amortization   (1,421 )     (1,547 )     (1,087 )     (311 )     (291 )
    After-tax intangible asset amortization $ 4,197     $ 4,226     $ 2,955     $ 811     $ 867  
    (O) Tangible net income applicable to common shares (non-GAAP) $ 186,245     $ 182,597     $ 165,965     $ 146,208     $ 181,170  
    Total average shareholders’ equity $ 6,460,941     $ 6,418,403     $ 5,990,429     $ 5,450,173     $ 5,440,457  
    Less: Average preferred stock   (412,500 )     (412,500 )     (412,500 )     (412,500 )     (412,500 )
    (P) Total average common shareholders’ equity $ 6,048,441     $ 6,005,903     $ 5,577,929     $ 5,037,673     $ 5,027,957  
    Less: Average intangible assets   (916,069 )     (921,438 )     (833,574 )     (677,207 )     (678,731 )
    (Q) Total average tangible common shareholders’ equity (non-GAAP) $ 5,132,372     $ 5,084,465     $ 4,744,355     $ 4,360,466     $ 4,349,226  
    Return on average common equity, annualized (N/P)   12.21 %     11.82 %     11.63 %     11.61 %     14.42 %
    Return on average tangible common equity, annualized (non-GAAP) (O/Q)   14.72       14.29       13.92       13.49       16.75  
                       
    Reconciliation of Non-GAAP Pre-Tax, Pre-Provision Income:    
    Income before taxes $ 253,055     $ 253,081     $ 232,709     $ 211,343     $ 249,956  
    Add: Provision for credit losses   23,963       16,979       22,334       40,061       21,673  
    Pre-tax income, excluding provision for credit losses (non-GAAP) $ 277,018     $ 270,060     $ 255,043     $ 251,404     $ 271,629  

    WINTRUST SUBSIDIARIES

    Wintrust is a financial holding company whose common stock is traded on the Nasdaq Global Select Market (Nasdaq: WTFC) that operates bank retail locations in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. Its 16 community bank subsidiaries are: Barrington Bank & Trust Company, N.A., Beverly Bank & Trust Company, N.A., Crystal Lake Bank & Trust Company, N.A., Hinsdale Bank & Trust Company, N.A., Lake Forest Bank & Trust Company, N.A., Libertyville Bank & Trust Company, N.A., Macatawa Bank, N.A., Northbrook Bank & Trust Company, N.A., Old Plank Trail Community Bank, N.A., Schaumburg Bank & Trust Company, N.A., St. Charles Bank & Trust Company, N.A., State Bank of The Lakes, N.A., Town Bank, N.A., Village Bank & Trust, N.A., Wheaton Bank & Trust Company, N.A., and Wintrust Bank, N.A.

    Additionally, the Company operates various non-bank businesses:

    • FIRST Insurance Funding and Wintrust Life Finance, each a division of Lake Forest Bank & Trust Company, N.A., serve commercial and life insurance loan customers, respectively, throughout the United States.
    • First Insurance Funding of Canada serves commercial insurance loan customers throughout Canada.
    • Tricom, Inc. of Milwaukee provides high-yielding, short-term accounts receivable financing and value-added out-sourced administrative services, such as data processing of payrolls, billing and cash management services, to temporary staffing service clients located throughout the United States.
    • Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., engages primarily in the origination and purchase of residential mortgages for sale into the secondary market through origination offices located throughout the United States. Loans are also originated nationwide through relationships with wholesale and correspondent offices.
    • Wintrust Investments, LLC is a broker-dealer providing a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest.
    • Great Lakes Advisors LLC provides money management services and advisory services to individual accounts.
    • Wintrust Private Trust Company, N.A., a trust subsidiary, allows Wintrust to service customers’ trust and investment needs at each banking location.
    • Wintrust Asset Finance offers direct leasing opportunities.
    • CDEC provides Qualified Intermediary services (as defined by U.S. Treasury regulations) for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031.

    FORWARD-LOOKING STATEMENTS

    This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking information can be identified through the use of words such as “intend,” “plan,” “project,” “expect,” “anticipate,” “believe,” “estimate,” “contemplate,” “possible,” “will,” “may,” “should,” “would” and “could.” Forward-looking statements and information are not historical facts, are premised on many factors and assumptions, and represent only management’s expectations, estimates and projections regarding future events. Similarly, these statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict, and which may include, but are not limited to, those listed below and the Risk Factors discussed under Item 1A of the Company’s 2024 Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. Such forward-looking statements may be deemed to include, among other things, statements relating to the Company’s future financial performance, the performance of its loan portfolio, the expected amount of future credit reserves and charge-offs, delinquency trends, growth plans, regulatory developments, securities that the Company may offer from time to time, and management’s long-term performance goals, as well as statements relating to the anticipated effects on the Company’s financial condition and results of operations from expected developments or events, the Company’s business and growth strategies, including future acquisitions of banks, specialty finance or wealth management businesses, internal growth and plans to form additional de novo banks or branch offices. Actual results could differ materially from those addressed in the forward-looking statements as a result of numerous factors, including the following:

    • economic conditions and events that affect the economy, housing prices, the job market and other factors that may adversely affect the Company’s liquidity and the performance of its loan portfolios, including an actual or threatened U.S. government debt default or rating downgrade, particularly in the markets in which it operates;
    • negative effects suffered by us or our customers resulting from changes in U.S. or international trade policies;
    • the extent of defaults and losses on the Company’s loan portfolio, which may require further increases in its allowance for credit losses;
    • estimates of fair value of certain of the Company’s assets and liabilities, which could change in value significantly from period to period;
    • the financial success and economic viability of the borrowers of our commercial loans;
    • commercial real estate market conditions in the Chicago metropolitan area and southern Wisconsin;
    • the extent of commercial and consumer delinquencies and declines in real estate values, which may require further increases in the Company’s allowance for credit losses;
    • inaccurate assumptions in our analytical and forecasting models used to manage our loan portfolio;
    • changes in the level and volatility of interest rates, the capital markets and other market indices that may affect, among other things, the Company’s liquidity and the value of its assets and liabilities;
    • the interest rate environment, including a prolonged period of low interest rates or rising interest rates, either broadly or for some types of instruments, which may affect the Company’s net interest income and net interest margin, and which could materially adversely affect the Company’s profitability;
    • competitive pressures in the financial services business which may affect the pricing of the Company’s loan and deposit products as well as its services (including wealth management services), which may result in loss of market share and reduced income from deposits, loans, advisory fees and income from other products;
    • failure to identify and complete favorable acquisitions in the future or unexpected losses, difficulties or developments related to the Company’s recent or future acquisitions;
    • unexpected difficulties and losses related to FDIC-assisted acquisitions;
    • harm to the Company’s reputation;
    • any negative perception of the Company’s financial strength;
    • ability of the Company to raise additional capital on acceptable terms when needed;
    • disruption in capital markets, which may lower fair values for the Company’s investment portfolio;
    • ability of the Company to use technology to provide products and services that will satisfy customer demands and create efficiencies in operations and to manage risks associated therewith;
    • failure or breaches of our security systems or infrastructure, or those of third parties;
    • security breaches, including denial of service attacks, hacking, social engineering attacks, malware intrusion and similar events or data corruption attempts and identity theft;
    • adverse effects on our information technology systems, or those of third parties, resulting from failures, human error or cyberattacks (including ransomware);
    • adverse effects of failures by our vendors to provide agreed upon services in the manner and at the cost agreed, particularly our information technology vendors;
    • increased costs as a result of protecting our customers from the impact of stolen debit card information;
    • accuracy and completeness of information the Company receives about customers and counterparties to make credit decisions;
    • ability of the Company to attract and retain senior management experienced in the banking and financial services industries;
    • environmental liability risk associated with lending activities;
    • the impact of any claims or legal actions to which the Company is subject, including any effect on our reputation;
    • losses incurred in connection with repurchases and indemnification payments related to mortgages and increases in reserves associated therewith;
    • the loss of customers as a result of technological changes allowing consumers to complete their financial transactions without the use of a bank;
    • the soundness of other financial institutions and the impact of recent failures of financial institutions, including broader financial institution liquidity risk and concerns;
    • the expenses and delayed returns inherent in opening new branches and de novo banks;
    • liabilities, potential customer loss or reputational harm related to closings of existing branches;
    • examinations and challenges by tax authorities, and any unanticipated impact of the Tax Act;
    • changes in accounting standards, rules and interpretations, and the impact on the Company’s financial statements;
    • the ability of the Company to receive dividends from its subsidiaries;
    • the impact of the Company’s transition from LIBOR to an alternative benchmark rate for current and future transactions;
    • a decrease in the Company’s capital ratios, including as a result of declines in the value of its loan portfolios, or otherwise;
    • legislative or regulatory changes, particularly changes in regulation of financial services companies and/or the products and services offered by financial services companies;
    • changes in laws, regulations, rules, standards and contractual obligations regarding data privacy and cybersecurity;
    • a lowering of our credit rating;
    • changes in U.S. monetary policy and changes to the Federal Reserve’s balance sheet, including changes in response to persistent inflation or otherwise;
    • regulatory restrictions upon our ability to market our products to consumers and limitations on our ability to profitably operate our mortgage business;
    • increased costs of compliance, heightened regulatory capital requirements and other risks associated with changes in regulation and the regulatory environment;
    • the impact of heightened capital requirements;
    • increases in the Company’s FDIC insurance premiums, or the collection of special assessments by the FDIC;
    • delinquencies or fraud with respect to the Company’s premium finance business;
    • credit downgrades among commercial and life insurance providers that could negatively affect the value of collateral securing the Company’s premium finance loans;
    • the Company’s ability to comply with covenants under its credit facility;
    • fluctuations in the stock market, which may have an adverse impact on the Company’s wealth management business and brokerage operation; and
    • widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism, armed hostilities and pandemics), and the effects of climate change.

    Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking statement made by the Company. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. The Company undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events after the date of the press release. Persons are advised, however, to consult further disclosures management makes on related subjects in its reports filed with the Securities and Exchange Commission and in its press releases.

    CONFERENCE CALL, WEBCAST AND REPLAY

    The Company will hold a conference call on Tuesday, April 22, 2025 at 9:00 a.m. (CDT) regarding first quarter 2025 earnings results. Individuals interested in participating in the call by addressing questions to management should register for the call to receive the dial-in numbers and unique PIN at the Conference Call Link included within the Company’s press release dated March 31, 2025 available at the Investor Relations, Investor News and Events, Press Releases link on its website at https://www.wintrust.com. A separate simultaneous audio-only webcast link is included within the press release referenced above. Registration for and a replay of the audio-only webcast with an accompanying slide presentation will be available at https://www.wintrust.com, Investor Relations, Investor News and Events, Presentations & Conference Calls. The text of the first quarter 2025 earnings press release will also be available on the home page of the Company’s website at https://www.wintrust.com and at the Investor Relations, Investor News and Events, Press Releases link on its website.

    FOR MORE INFORMATION CONTACT:
    Timothy S. Crane, President & Chief Executive Officer
    David A. Dykstra, Vice Chairman & Chief Operating Officer
    (847) 939-9000
    Web site address: www.wintrust.com

    The MIL Network –

  • MIL-OSI: PDF Solutions to Report First Quarter Fiscal 2025 Financial Results on May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., April 21, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor ecosystem, announced that it will release First quarter fiscal 2025 financial results after the market close on Thursday, May 8, 2025. John Kibarian, CEO, and Adnan Raza, CFO, will host a live teleconference on Thursday, May 8, 2025, beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the results.

    To participate on the live call, analysts and investors should pre-register at: https://register-conf.media-server.com/register/BI6d53831ac55c4a1ab7f4514ab0ec41ca.

    Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial-in into the call ten minutes ahead of scheduled time.

    The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website.

    About PDF Solutions
    PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

    Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com/.

    PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

    Company Contacts

    Adnan Raza
    Chief Financial Officer
    (408) 516-0237
    adnan.raza@pdf.com

    Sonia Segovia
    Investor Relations
    (408) 938-6491
    sonia.segovia@pdf.com

    The MIL Network –

  • MIL-OSI: XRP News: XenDex Announces Vision, Native Token Utility Framework, and Detailed Tokenomics

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 21, 2025 (GLOBE NEWSWIRE) — XenDex, a groundbreaking all-in-one decentralized exchange, is officially entering the Ripple blockchain with a bold mission: to create the first all-in-one decentralized finance hub built natively on the XRP Ledger (XRP). Leveraging AI Copy trading technology, non-custodial trading, and smart lending and borrowing protocols. XenDex is not just another DEX, it’s the infrastructure XRP has been missing.

    Mission & Vision

    XenDex’s mission is to enable global access to decentralized finance by delivering a secure, low cost, community-governed exchange that runs at the unmatched speed. The team behind Xendex is determined to develop the best and most unique decentralized exchange with multiple functionalities on the Ripple ecosystem.

    Join XenDex Community On Telegram

    The project envisions becoming XRP’s primary DeFi engine, combining next-gen trading tools, lending and borrowing functions, staking, cross-chain bridges, and full DAO governance — all within a scalable, high-speed ecosystem.

    Introducing $XDX – The Utility Token of XenDex

    At the heart of XenDex lies $XDX, a multi-utility token powering all activity across the platform. $XDX provides users with:

    • Governance rights for on-chain voting and proposal submission
    • Staking rewards for passive income and platform security
    • Fee discounts for trading and borrowing activities
    • Liquidity incentives through farming and AMM pools
    • Access to launchpad sales, NFTs, and AI tools
    • Airdrop eligibility for early adopters and long-term holders

    $XDX Tokenomics

    • Token Ticker: $XDX
    • Total Supply: 1,000,000,000 tokens
    • Presale Allocation: 300,000,000 (30%)
    • Staking & Lending Reserve: 25%
    • Team: 10% (with 6-month vesting)
    • Locked Reserve: 10%
    • Marketing & Partnerships: 5%
    • Public Sale Allocation: 20%

    XenDex isn’t just building a De-Fi, rather it’s engineering an ecosystem. With its sights set on long-term growth, sustainable community engagement, and cross-chain interoperability, the XenDex team has revealed a multi-phase roadmap that blends technical delivery, community building, and strategic expansion.

    Visit XenDex Website & Join Telegram Community

    The lead developer of the project stated that XenDex is committed to long-term growth with a few event coming soon, some of which include the $XDX token sale, major AMAs, airdrops, independent security audits, community games, DAO governance rollout, and listings on top exchanges including FirstLedger, MagneticX, Bitmart, followed by MEXC and Binance — all while continuously expanding features like lending, AI copy trading, and cross-chain integration.

    XenDex’s beta version and smart contracts are currently undergoing development and comprehensive audits respectively, and the entire platform is designed to remain non-custodial and governed by its community via DAO voting.

    Join the XenDex Revolution

    Website: https://xendex.net
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88c628f4-416e-471c-85a8-13e68afc5aa5

    The MIL Network –

  • MIL-OSI: How InteroSoft Is Protecting UK Crypto Portfolios with 24/7 AI Monitoring

    Source: GlobeNewswire (MIL-OSI)

    London, UK, April 21, 2025 (GLOBE NEWSWIRE) — In a time where market volatility and cyber threats are increasing daily, UK investors are demanding more than just speed and convenience—they’re demanding protection. InteroSoft, a fast-growing crypto trading platform, is answering that call with the launch of its 24/7 AI Monitoring System, a real-time security and risk management feature now active across all client accounts.

    This development marks a significant leap forward for crypto traders in the UK, many of whom have long faced the consequences of unmonitored trades, price crashes, and system failures. Now, thanks to InteroSoft’s AI-driven infrastructure, clients can rest easier knowing their portfolios are being actively protected around the clock.

    The move has triggered a wave of positive InteroSoft reviews, with users praising the platform’s ability to anticipate risk, flag dangerous trades, and even prevent losses before they happen.

    A New Standard in Crypto Protection

    InteroSoft’s AI Monitoring System uses proprietary algorithms to analyze thousands of market data points per second. It scans for volatility spikes, abnormal trading behavior, execution errors, and potential threats—all in real time.

    When something suspicious is detected, the AI can:

    • Freeze trade execution
    • Alert the client via mobile and web notifications
    • Automatically rebalance risk exposure
    • Pause or reverse open positions based on custom parameters

    “Our UK clients want speed—but they also want safety,” said a spokesperson for the company. “That’s why we built this system. InteroSoft isn’t just fast—it’s smart. We believe every trader, from beginners to professionals, deserves peace of mind.”

    Designed for UK Investors

    The system has been optimised for the UK market, ensuring full compatibility with local trading behavior, GBP pairings, and compliance expectations.

    Highlights include:

    • 24/7 AI trade monitoring across all accounts
    • Same-day GBP withdrawals
    • AI alerts tailored to UK trading patterns
    • London-based support for immediate assistance
    • Full transparency on fees, trades, and flagged actions

    As one of the only platforms offering this level of intelligent portfolio defense, InteroSoft is gaining rapid traction across London, Birmingham, Manchester, and beyond. The rise in InteroSoft reviews reflects growing user confidence and satisfaction.

    Real UK Traders. Real Results.

    Below are four testimonials from active UK-based clients who have experienced the impact of InteroSoft’s 24/7 AI Monitoring firsthand:

    Laura P. – London, England
    “I used to wake up in panic during overnight volatility. Since switching to InteroSoft, I don’t stress. The system caught a bad trade forming during a BTC flash crash and saved me thousands. I’ve left InteroSoft reviews because this tech really works.”

    Callum R. – Manchester, England
    “What impressed me was the automation. The AI paused one of my trades when the market shifted rapidly, and it explained why. That’s something I never got from other platforms. It’s like having a risk analyst working with you 24/7.”

    Hannah G. – Birmingham, England
    “I’ve tried five different crypto platforms. This is the first one where I genuinely feel protected. InteroSoft’s AI alerts helped me avoid three bad trades in two weeks. I’ve already recommended it to three friends.”

    James M. – Glasgow, Scotland
    “The AI doesn’t just watch the markets—it watches your behavior too. It flagged one of my emotional entries and asked me to confirm. That moment alone changed the way I trade. You’ll see my InteroSoft reviews because I believe people need to hear about this.”

    Analysts Take Notice

    A top UK fintech research firm recently reported that over 70% of new UK crypto investors are prioritising security and automation over bonuses and flashy interfaces. InteroSoft’s approach aligns perfectly with this trend, offering a balance of advanced tech, fast execution, and proactive protection.

    The company’s growth in Q1 2025 has been driven in part by demand for platforms that don’t just facilitate trades—but actively protect capital in real time. These trends are reflected in the surge of verified InteroSoft reviews across forums, blogs, and trust platforms.

    What’s Next for InteroSoft?

    Following the success of its AI Monitoring launch, InteroSoft has announced upcoming features specifically for its UK clients:

    • AI-driven tax summaries for HMRC reporting
    • Portfolio risk grading to assist with self-managed strategies
    • Mobile app upgrades for deeper trade visibility
    • Live market education streams from UK-based analysts

    These additions are set to reinforce the company’s reputation as one of the most forward-thinking crypto platforms in the UK market.

    Conclusion

    In an industry where milliseconds and mistakes can cost fortunes, InteroSoft is showing the UK that crypto trading can be both profitable and protected. With its 24/7 AI Monitoring System, same-day GBP access, and transparent operations, the platform is quickly becoming the smart trader’s first choice.

    The MIL Network –

  • MIL-OSI: Weatherford and AIQ Sign Strategic Partnership to Accelerate Efficiency in Energy Production

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 21, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has signed a strategic Memorandum of Understanding (MOU) with AIQ, the Abu Dhabi-based artificial intelligence (AI) champion developing innovative solutions for the energy sector. This partnership is set to bring transformative efficiency to energy production, leveraging advanced automation, data-driven insights, and the power of AI technology.

    The collaboration aims to integrate Weatherford’s world-class software and hardware solutions, including the Modern Edge suite, Unified Data Model, and WFRD Software Launchpad, with AIQ’s robust AI-driven systems. By combining these advanced tools, Weatherford and AIQ will enable operators to optimize their production workflows, reduce downtime, and significantly enhance operational efficiency across global oil and gas facilities.

    Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are excited to partner with AIQ to bring innovative, AI-driven solutions to the oil and gas industry. This strategic partnership allows us to deliver cutting-edge technologies that empower our customers to maximize their operational efficiency, enhance automation, and reduce costs. By combining our strengths, we are leading the way in helping operators modernize their workflows and achieve greater success in today’s rapidly evolving energy landscape.”

    Magzhan Kenesbai, Acting Managing Director of AIQ, said, “This partnership marks another step in AIQ’s mission to build partnerships that accelerate the deployment of impactful AI systems across the energy value chain. By integrating our advanced AI-driven tools with Weatherford’s energy-specific technology, we are driving greater efficiencies to the industry through the development of scalable, automated applications. Together, we are set to empower operators to optimize their workflows, reduce downtime, and achieve unparalleled operational excellence.”

    Key Highlights of the Strategic Partnership:

    1. Modern Edge Integration: The partnership will combine AIQ’s AI technology with Weatherford’s Modern Edge, providing operators with the ability to scale their work processes efficiently while ensuring an economic return. This integration will empower customers to modernize their edge operations, facilitate autonomous production, and offer the flexibility to expand operations, all while optimizing resource usage and reducing costs.
    2. Unified Data Model: Weatherford’s Universal Normalizer will work in tandem with AIQ’s capabilities to harmonize multi-asset data, combining operational and financial analysis into a unified, API-supported data model. This will drive smarter decision-making and streamline operations across facilities.
    3. WFRD Software Launchpad: Through the WFRD Software Launchpad, customers will gain the ability to procure all of their software needs via a comprehensive industrial SaaS platform. This eliminates the complexity of managing multiple systems and vendors, providing a single point of access for all Weatherford and partner-built applications, while ensuring data security and autonomy within their own network.

    By combining their strengths, Weatherford and AIQ will enable the energy sector to unlock unprecedented efficiencies, boost productivity, and reduce operational costs. This partnership is a significant step forward in Weatherford’s commitment to delivering cutting-edge solutions that empower operators to succeed in an increasingly competitive and data-driven industry.

    About Weatherford

    Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

    Contacts
    For Investors:
    Luke Lemoine
    Senior Vice President, Corporate Development & Investor Relations
    +1 713-836-7777
    investor.relations@weatherford.com

    For Media:
    Kelley Hughes
    Senior Director, Communications & Employee Engagement
    media@weatherford.com

    About AIQ

    AIQ is an innovative global technology pioneer based in Abu Dhabi, dedicated to accelerating AI-driven advancements within the Energy sector, propelling it towards a sustainable future. AIQ solutions improve performance and efficiency; protect personnel, assets, and operations; and enable customers to meet their sustainability goals. As a committed contributor to realizing the UAE’s ambition to lead the world in AI by 2031, AIQ is playing a pivotal role in the AI ecosystem of Abu Dhabi, the UAE, and the global Energy sector. To find out more, visit: aiqintelligence.ae/

    For media enquiries, please contact: aiq.communications@aiqintelligence.ai

    The MIL Network –

  • MIL-OSI: Zero Downtime, Full Transparency: UCFX Markets Raises the Industry Standard

    Source: GlobeNewswire (MIL-OSI)

    London, UK, April 21, 2025 (GLOBE NEWSWIRE) — In a time when traders are demanding clarity, performance, and accountability, UCFX Markets has emerged as a beacon of trust, efficiency, and modern trading architecture. With its recent announcement of zero system downtime and full trade transparency, the platform is drawing praise from analysts, high-volume traders, and everyday investors alike.

    This dual milestone—infrastructure reliability and complete visibility into trades, pricing, and fees—has elevated UCFX Markets into a category of its own, especially as global platforms continue to suffer from lag, withdrawal delays, and policy confusion. As noted in a series of recent independent UCFXMarkets reviews, the company is delivering not just promises, but measurable performance.

    Technology That Doesn’t Sleep

    Since the beginning of 2025, UCFX Markets has achieved and maintained 100% operational uptime, a metric that few competitors can match. During major market events—including January’s unexpected altcoin surge and March’s Bitcoin correction—the platform experienced no outages or slowdowns, enabling traders to enter, manage, and exit positions in real time without risk of system-related loss.

    “Our clients never have to worry about platform failure during volatile conditions,” said a senior infrastructure engineer at UCFX Markets. “Whether they’re day-trading, swing-trading, or holding long-term, they know the system will be there. No blackout windows. No server crashes.”

    This commitment to consistency has sparked a surge in UCFXMarkets reviews, particularly from traders who have grown frustrated with unreliable platforms that freeze or disconnect during peak demand hours.

    Full Transparency: From Fees to Execution

    Beyond stability, UCFX Markets is also setting the bar for transparency. Clients now have access to:

    • Live trade audit logs
    • Real-time spread visibility
    • Instant fee breakdowns
    • AI-generated trade rationale reports

    This level of openness has resonated with both retail and professional traders, many of whom have spent years navigating platforms with hidden charges or unclear execution histories.

    “Transparency builds trust. And in 2025, trust is everything,” said a spokesperson for UCFX Markets. “We believe that traders deserve to see exactly how every trade is processed—and exactly what it costs.”

    According to one recent financial report, over 78% of new clients cited transparency and system stability as the key reasons for moving to the platform. This has led to an influx of glowing UCFXMarkets reviews from users across Europe, Australia, and Asia.

    What Traders Are Saying

    Below are four real-world testimonials from verified clients now actively trading with UCFX Markets:

    Liam H. – Manchester, UK
    “I’ve used at least six trading platforms in the past five years. None come close to the stability and transparency of UCFX Markets. I don’t have to guess what’s happening with my orders. Everything’s logged and clear. I’ve already written multiple UCFXMarkets reviews because they earned it.”

    Amelia W. – Sydney, Australia
    “During the last flash crash, my previous platform froze completely. I lost over $4,000. That’s when I switched to UCFX Markets. Their uptime is unmatched, and the risk monitoring tools helped me protect every position. Highly recommend.”

    Jonas L. – Berlin, Germany
    “As someone managing multiple accounts, transparency is non-negotiable. I’ve had platforms lock me out, delay withdrawals, or hide spreads. With UCFX Markets, it’s all laid out. Nothing hidden. My team and I now manage all of our trades here.”

    Rachel T. – Toronto, Canada
    “It’s the only platform I’ve used where everything works exactly as promised. From deposits to withdrawals to reporting—it’s seamless. I’ve shared UCFXMarkets reviews with friends and colleagues because people deserve better options in crypto trading.”

    The Industry Takes Notice

    UCFX Markets’ consistent execution and operational integrity have not gone unnoticed. Independent rating firms and fintech publications are beginning to highlight the platform as a rising force in crypto and forex, especially among self-managed traders, portfolio managers, and regulated institutional desks.

    The company is also gaining attention for its no-nonsense approach to compliance, offering streamlined KYC processes that meet international standards without unnecessary delays or hurdles. Combined with its real-time trade audit tools, UCFX Markets is positioning itself as a regulation-ready alternative for both individual and enterprise clients.

    Looking Ahead: Smarter, Safer, Faster

    UCFX Markets’ roadmap for 2025 includes:

    • Advanced AI-driven trade strategy modeling
    • Multilingual, around-the-clock support based in EU and APAC
    • Custom dashboard environments for fund managers and quant traders
    • Launch of smart trading alerts integrated with mobile apps

    These innovations are expected to further boost user satisfaction and enhance already glowing UCFXMarkets reviews seen across fintech communities and trust platforms.

    Conclusion

    In a market flooded with short-lived platforms and empty promises, UCFX Markets is raising the bar through performance, clarity, and total reliability. With zero downtime and fully transparent operations, it offers a clear path forward for traders who demand both trust and results.

    The MIL Network –

  • MIL-OSI: TrustCo Reports First Quarter 2025 Net Income of $14.3 Million From Repricing Loan Portfolio and Well-Managed Cost of Funds

    Source: GlobeNewswire (MIL-OSI)

    Executive Snapshot:

    • Bank-wide financial results:
      • Key metrics for the first quarter 2025:
        • Net income of $14.3 million increased 17.7% compared to $12.1 million for the first quarter 2024
        • Net interest income of $40.4 million, up 10.4% from $36.6 million compared to the first quarter 2024
        • Average loans were up $104.7 million for the first quarter 2025 compared to the first quarter 2024
        • Average deposits were up $103.3 million for the first quarter 2025 compared to the first quarter 2024
    • Capital position and key ratios:
      • Consolidated equity to assets increased to 10.85% as of March 31, 2025 from 10.51% as of March 31, 2024
      • Book value per share as of March 31, 2025 was $36.16, up from $34.12 as of March 31, 2024
      • Stock repurchase program announced authorizing for up to one million shares or approximately 5% of TrustCo’s current outstanding common stock
    • Trustco Financial Services and Wealth Management income:
      • Fees increased to $2.1 million or 16.7% compared to first quarter 2024
      • Assets under management increased to $1.2 billion or 17.4% compared first quarter 2024

    GLENVILLE, N.Y., April 21, 2025 (GLOBE NEWSWIRE) —

    TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced a robust start to 2025, marked by significant growth in both the loan and deposit portfolios of Trustco Bank during the first quarter of 2025 compared to the first quarter of 2024. This performance underscores the Bank’s commitment to serving its community through increased residential and commercial lending and adapting effectively to the evolving financial landscape. This resulted in first quarter 2025 net income of $14.3 million or $0.75 diluted earnings per share, compared to net income of $12.1 million or $0.64 diluted earnings per share for the first quarter 2024. Average loans increased $104.7 million or 2.1% for the first quarter 2025 over the same period in 2024. Average deposits increased $103.3 million or 1.9% for the first quarter 2025 over the same period in 2024.

    Overview

    Chairman, President, and CEO, Robert J. McCormick said “We are very pleased to announce today that tried and true Trustco Bank strategy has once again yielded exceptional results. We added loans at current market rates, which repriced our current loan portfolio higher, supporting long-term profitability. This was funded entirely by our own deposits, and we did so while holding the line on board rates. Despite aggressive market competition, we have favorably repriced our time deposits with the help of strong brand loyalty and digital engagement. These efforts yielded net income of $14.3 million and boosted all return metrics significantly year-over-year. Credit quality remains exceptional, with non-performing loans holding steady at a negligible 0.37%. The Bank also grew capital and thus maintains its position of strength. Based upon what we have seen in the first quarter, we anticipate that good things are likely in the future.”

    Details

    Average loans were up $104.7 million, or 2.1%, in the first quarter 2025 over the same period in 2024. Average residential loans and HECLs, our primary lending focus, were up $26.2 million, or 0.6%, and $61.0 million, or 17.3%, respectively, in the first quarter 2025 over the same period in 2024. Average commercial loans also increased $20.7 million, or 7.5%, in the first quarter 2025 over the same period in 2024. This uptick reflects a strong local economy and increased demand for credit. Average deposits were up $103.3 million, or 1.9%, for the first quarter 2025 over the same period in 2024, primarily as a result of an increase in time deposits, interest bearing checking accounts, and demand deposits. We believe the increase in these deposits compared to the same period in 2024 continues to indicate strong customer confidence in the Bank’s competitive deposit offerings. As we move forward, despite a complex economic environment, we believe that our strategic focus on relationship banking and solid financial practices has positioned us for continued success.

    During the first quarter of 2025, the TrustCo announced a stock repurchase program of up to one million shares, or approximately 5% of TrustCo’s current outstanding shares of common stock. This repurchase initiative is part of the Bank’s broader capital management strategy and is intended to enhance shareholder value while maintaining flexibility to support future growth. As of March 31, 2025, our equity to asset ratio was 10.85%, compared to 10.51% as of March 31, 2024. Book value per share as of March 31, 2025 was $36.16, up 6.0% compared to $34.12 a year earlier.  

    Net interest income was $40.4 million for the first quarter 2025, an increase of $3.8 million, or 10.4%, compared to the first quarter of 2024, driven by loan growth at higher interest rates and less interest expense on deposit products, partially offset by lower investment interest income and a decrease in interest on federal funds sold and other short-term investments. The net interest margin for the first quarter 2025 was 2.64%, up 20 basis points from 2.44% in the first quarter of 2024. The yield on interest earnings assets increased to 4.13% in the first quarter of 2025, up 14 basis points from 3.99% in the first quarter of 2024. The cost of interest bearing liabilities decreased to 1.92% in the first quarter 2025, down from 1.99% in the first quarter 2024. As the Federal Reserve signals potential interest rate reductions in 2025, the Bank is proactively preparing to navigate the evolving rate environment. In this context, the Bank anticipates that a lower interest rate environment will provide opportunities to manage deposit costs more effectively, thereby supporting net interest margin. The Bank remains committed to maintaining competitive deposit offerings while ensuring financial stability and continued support for our communities’ banking needs.

    Non-interest income increased to $5.0 million as compared to $4.8 million for the first quarter of 2024. This increase was primarily attributable to wealth management and financial services fees, which increased by 16.7% to $2.1 million, driven by strong client demand and higher assets under management. These revenues now represent 42.6% of non-interest income. The majority of this fee income is recurring, supported by long-term advisory relationships and a growing base of managed assets. Non-interest expense increased $1.4 million over the first quarter of 2024 due to increases in several areas of expenses.

    Asset quality remains strong and has been consistent over the past twelve months. The Company recorded a provision for credit losses of $300 thousand in the first quarter of 2025, which is the result of a provision for credit losses on loans of $100 thousand, and a provision for credit losses on unfunded commitments of $200 thousand. The ratio of allowance for credit losses on loans to total loans was 0.99% and 0.98% as of March 31, 2025 and 2024, respectively. The allowance for credit losses on loans was $50.6 million as of March 31, 2025, compared to $49.2 million as of March 31, 2024. Nonperforming loans (NPLs) were $18.8 million as of March 31, 2025, compared to $18.3 million as of March 31, 2024. NPLs were 0.37% of total loans as of March 31, 2025 and 2024. The coverage ratio, or allowance for credit losses on loans to NPLs, was 269.8% as of March 31, 2025, compared to 269.3% as of March 31, 2024. Nonperforming assets (NPAs) were $20.9 million as of March 31, 2025, compared to $20.6 million as of March 31, 2024.  

    A conference call to discuss first quarter 2025 results will be held at 9:00 a.m. Eastern Time on April 22, 2025. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 048251. A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 486810. The call will also be audio webcast at https://events.q4inc.com/attendee/647533404,and will be available for one year.

    About TrustCo Bank Corp NY

    TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 136 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of March 31, 2025.

    In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

    Forward-Looking Statements

    All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding the effects of the economic environment on our financial results, our ability to retain customers and the amount of customers’ business, including deposit balances, with us, the impact of the Federal Reserve’s actions regarding interest rates, and the anticipated effects of our capital management strategy, including our stock repurchase program. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements, and many of the risks and uncertainties are heightened by or may, in the future, be heightened by volatility in financial markets and macroeconomic or geopolitical concerns related to inflation, changes in United States and foreign trade policy, continued elevated interest rates and ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas). TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; external economic factors, such as changes in monetary policy, ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; the enforcement of federal cannabis laws and regulations and its impact on our ability to provide services in the cannabis industry; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; an increase in the prevalence of fraud and other financial crimes; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; environmental, social and governance risks, as well as diversity, equity, and inclusion-related risks, and their impact on our reputation and relationships; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the development and use of artificial intelligence; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; and other risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q or other securities filings, as well as our upcoming quarterly report on Form 10-Q for the first quarter of 2025. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

    TRUSTCO BANK CORP NY  
    GLENVILLE, NY  
       
    FINANCIAL HIGHLIGHTS  
       
    (dollars in thousands, except per share data)  
    (Unaudited)  
      Three months ended  
      3/31/2025   12/31/2024   3/31/2024  
    Summary of operations            
    Net interest income $ 40,373   $ 38,902   $ 36,578  
    Provision for credit losses   300     400     600  
    Noninterest income   4,974     4,409     4,843  
    Noninterest expense   26,329     28,165     24,903  
    Net income   14,275     11,281     12,126  
                 
    Per share            
    Net income per share:            
    – Basic $ 0.75   $ 0.59   $ 0.64  
    – Diluted   0.75     0.59     0.64  
    Cash dividends   0.36     0.36     0.36  
    Book value at period end   36.16     35.56     34.12  
    Market price at period end   30.48     33.31     28.16  
                 
    At period end            
    Full time equivalent employees   740     737     761  
    Full service banking offices   136     136     140  
                 
    Performance ratios            
    Return on average assets   0.93 %   0.73 %   0.80 %
    Return on average equity   8.49     6.70     7.54  
    Efficiency ratio (GAAP)   58.06     65.03     59.94  
    Adjusted Efficiency ratio (1)   58.00     63.93     59.94  
    Net interest spread   2.21     2.15     2.00  
    Net interest margin   2.64     2.60     2.44  
    Dividend payout ratio 47.97     60.70     56.48  
                 
    Capital ratios at period end            
    Consolidated equity to assets   10.85 %   10.84 %   10.51 %
    Consolidated tangible equity to tangible assets (1)   10.84 %   10.83 %   10.50 %
                 
    Asset quality analysis at period end            
    Nonperforming loans to total loans   0.37 %   0.37 %   0.37 %
    Nonperforming assets to total assets   0.33     0.34     0.33  
    Allowance for credit losses on loans to total loans   0.99     0.99     0.98  
    Coverage ratio (2) 2.7x   2.7x   2.7x  
                 
                 
    (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.
    (2) Calculated as allowance for credit losses on loans divided by total nonperforming loans.            
                 
                       
    CONSOLIDATED STATEMENTS OF INCOME
                       
    (dollars in thousands, except per share data)                  
    (Unaudited)                  
       Three months ended
      3/31/2025   12/31/2024   9/30/2024   6/30/2024   3/31/2024
    Interest and dividend income:                  
    Interest and fees on loans $ 53,450   $ 53,024   $ 52,112   $ 50,660   $ 49,804
    Interest and dividends on securities available for sale:                  
    U. S. government sponsored enterprises   596     680     718     909     906
    State and political subdivisions   –     –     –     1     –
    Mortgage-backed securities and collateralized mortgage                  
    obligations – residential   1,483     1,418     1,397     1,451     1,494
    Corporate bonds   260     358     361     362     476
    Small Business Administration – guaranteed                  
    participation securities   81     84     90     94     100
    Other securities   7     6     2     2     3
    Total interest and dividends on securities available for sale   2,427     2,546     2,568     2,819     2,979
                       
    Interest on held to maturity securities:                  
    obligations – residential   57     59     62     65     68
    Total interest on held to maturity securities   57     59     62     65     68
                       
    Federal Home Loan Bank stock   151     152     153     147     152
                       
    Interest on federal funds sold and other short-term investments   6,732     6,128     6,174     6,894     6,750
    Total interest income   62,817     61,909     61,069     60,585     59,753
                       
    Interest expense:                  
    Interest on deposits:                  
    Interest-bearing checking   558     397     311     288     240
    Savings   734     719     770     675     712
    Money market deposit accounts   1,989     2,024     2,154     2,228     2,342
    Time deposits   18,983     19,680     18,969     19,400     19,677
    Interest on short-term borrowings   180     187     194     206     204
    Total interest expense   22,444     23,007     22,398     22,797     23,175
                       
    Net interest income   40,373     38,902     38,671     37,788     36,578
                       
    Less: Provision for credit losses   300     400     500     500     600
    Net interest income after provision for credit losses   40,073     38,502     38,171     37,288     35,978
                       
    Noninterest income:                  
    Trustco Financial Services income   2,120     1,778     2,044     1,609     1,816
    Fees for services to customers   2,645     2,226     2,482     2,399     2,745
    Net gains on equity securities   –     –     23     1,360     –
    Other   209     405     382     283     282
    Total noninterest income   4,974     4,409     4,931     5,651     4,843
                       
    Noninterest expenses:                  
    Salaries and employee benefits   11,894     12,068     12,134     12,520     11,427
    Net occupancy expense   4,554     4,563     4,271     4,375     4,611
    Equipment expense   1,944     2,404     1,757     1,990     1,738
    Professional services   1,726     1,782     1,863     1,570     1,460
    Outsourced services   2,700     3,051     2,551     2,755     2,501
    Advertising expense   361     590     339     466     408
    FDIC and other insurance   1,188     1,113     1,112     797     1,094
    Other real estate expense, net   28     476     204     16     74
    Other   1,934     2,118     1,969     1,970     1,590
    Total noninterest expenses   26,329     28,165     26,200     26,459     24,903
                       
    Income before taxes   18,718     14,746     16,902     16,480     15,918
    Income taxes   4,443     3,465     4,027     3,929     3,792
                       
    Net income $ 14,275   $ 11,281   $ 12,875   $ 12,551   $ 12,126
                       
    Net income per common share:                  
    – Basic $ 0.75   $ 0.59   $ 0.68   $ 0.66   $ 0.64
                       
    – Diluted   0.75     0.59     0.68     0.66     0.64
                       
    Average basic shares (in thousands)   19,020     19,015     19,010     19,022     19,024
    Average diluted shares (in thousands)   19,044     19,045     19,036     19,033     19,032
                       
               
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
     
    (dollars in thousands)
    (Unaudited)
      3/31/2025 12/31/2024 9/30/2024 6/30/3024   3/31/2024  
    ASSETS:          
               
    Cash and due from banks $ 48,782   $ 47,364   $ 49,659   $ 42,193   $ 44,868  
    Federal funds sold and other short term investments   707,355     594,448     473,306     493,920     564,815  
    Total cash and cash equivalents   756,137     641,812     522,965     536,113     609,683  
               
    Securities available for sale:          
    U. S. government sponsored enterprises   65,942     85,617     90,588     106,796     128,854  
    States and political subdivisions   18     18     26     26     26  
    Mortgage-backed securities and collateralized mortgage          
    obligations – residential   219,333     213,128     222,841     218,311     227,078  
    Small Business Administration – guaranteed          
    participation securities   13,683     14,141     15,171     15,592     16,260  
    Corporate bonds   24,779     44,581     54,327     53,764     53,341  
    Other securities   698     700     701     688     682  
    Total securities available for sale   324,453     358,185     383,654     395,177     426,241  
               
    Held to maturity securities:          
    Mortgage-backed securities and collateralized mortgage          
    obligations-residential   5,090     5,365     5,636     5,921     6,206  
    Total held to maturity securities   5,090     5,365     5,636     5,921     6,206  
               
    Federal Reserve Bank and Federal Home Loan Bank stock   6,507     6,507     6,507     6,507     6,203  
               
    Loans:          
    Commercial   302,753     286,857     280,261     282,441     279,092  
    Residential mortgage loans   4,380,561     4,388,302     4,382,674     4,370,640     4,354,369  
    Home equity line of credit   419,806     409,261     393,418     370,063     355,879  
    Installment loans   13,017     13,638     14,503     15,168     16,166  
    Loans, net of deferred net costs   5,116,137     5,098,058     5,070,856     5,038,312     5,005,506  
               
    Less: Allowance for credit losses on loans   50,606     50,248     49,950     49,772     49,220  
    Net loans   5,065,531     5,047,810     5,020,906     4,988,540     4,956,286  
               
    Bank premises and equipment, net   37,178     33,782     33,324     33,466     33,423  
    Operating lease right-of-use assets   34,968     36,627     37,958     38,376     39,647  
    Other assets   108,681     108,656     98,730     102,544     101,881  
               
    Total assets $ 6,338,545   $ 6,238,744   $ 6,109,680   $ 6,106,644   $ 6,179,570  
               
    LIABILITIES:          
    Deposits:          
    Demand $ 793,306   $ 762,101   $ 753,878   $ 745,227   $ 742,997  
    Interest-bearing checking   1,067,948     1,027,540     988,527     1,029,606     1,020,136  
    Savings accounts   1,094,968     1,086,534     1,092,038     1,144,427     1,155,517  
    Money market deposit accounts   478,872     465,049     477,113     517,445     532,611  
    Time deposits   2,061,576     2,049,759     1,952,635     1,840,262     1,903,908  
    Total deposits   5,496,670     5,390,983     5,264,191     5,276,967     5,355,169  
               
    Short-term borrowings   82,275     84,781     91,450     89,720     94,374  
    Operating lease liabilities   38,324     40,159     41,469     42,026     43,438  
    Accrued expenses and other liabilities   33,468     46,478     43,549     42,763     37,399  
               
    Total liabilities   5,650,737     5,562,401     5,440,659     5,451,476     5,530,380  
               
    SHAREHOLDERS’ EQUITY:          
    Capital stock   20,097     20,097     20,058     20,058     20,058  
    Surplus   259,182     258,874     257,644     257,490     257,335  
    Undivided profits   453,931     446,503     442,079     436,048     430,346  
    Accumulated other comprehensive loss, net of tax   (132 )   (3,861 )   (6,600 )   (14,268 )   (14,763 )
    Treasury stock at cost   (45,270 )   (45,270 )   (44,160 )   (44,160 )   (43,786 )
               
    Total shareholders’ equity   687,808     676,343     669,021     655,168     649,190  
               
    Total liabilities and shareholders’ equity $ 6,338,545   $ 6,238,744   $ 6,109,680   $ 6,106,644   $ 6,179,570  
               
    Outstanding shares (in thousands)   19,020     19,020     19,010     19,010     19,024  
               
    NONPERFORMING ASSETS  
                 
    (dollars in thousands)  
    (Unaudited)  
      3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024  
    Nonperforming Assets            
                 
    New York and other states*            
    Loans in nonaccrual status:            
    Commercial $ 688   $ 343   $ 466   $ 741   $ 532    
    Real estate mortgage – 1 to 4 family   14,795     14,671     15,320     14,992     14,359    
    Installment   139     108     163     131     149    
    Total non-accrual loans   15,622     15,122     15,949     15,864     15,040    
    Other nonperforming real estate mortgages – 1 to 4 family   –     –     –     –     –    
    Total nonperforming loans   15,622     15,122     15,949     15,864     15,040    
    Other real estate owned   2,107     2,175     2,503     2,334     2,334    
    Total nonperforming assets $ 17,729   $ 17,297   $ 18,452   $ 18,198   $ 17,374    
                 
    Florida            
    Loans in nonaccrual status:            
    Commercial $ –   $ –   $ 314   $ 314   $ 314    
    Real estate mortgage – 1 to 4 family   3,135     3,656     3,176     2,985     2,921    
    Installment   3     22     5     22     –    
    Total non-accrual loans   3,138     3,678     3,495     3,321     3,235    
    Other nonperforming real estate mortgages – 1 to 4 family   –     –     –     –     –    
    Total nonperforming loans   3,138     3,678     3,495     3,321     3,235    
    Other real estate owned   –     –     –     –     –    
    Total nonperforming assets $ 3,138   $ 3,678   $ 3,495   $ 3,321   $ 3,235    
                 
    Total            
    Loans in nonaccrual status:            
    Commercial $ 688   $ 343   $ 780   $ 1,055   $ 846    
    Real estate mortgage – 1 to 4 family   17,930     18,327     18,496     17,977     17,280    
    Installment   142     130     168     153     149    
    Total non-accrual loans   18,760     18,800     19,444     19,185     18,275    
    Other nonperforming real estate mortgages – 1 to 4 family   –     –     –     –     –    
    Total nonperforming loans   18,760     18,800     19,444     19,185     18,275    
    Other real estate owned   2,107     2,175     2,503     2,334     2,334    
    Total nonperforming assets $ 20,867   $ 20,975   $ 21,947   $ 21,519   $ 20,609    
                 
                 
    Quarterly Net (Recoveries) Chargeoffs            
                 
    New York and other states*            
    Commercial $ (3 ) $ 62   $ 65   $ –   $ –    
    Real estate mortgage – 1 to 4 family   41     (316 )   104     (74 )   (78 )  
    Installment   4     41     11     (2 )   36    
    Total net chargeoffs (recoveries) $ 42   $ (213 ) $ 180   $ (76 ) $ (42 )  
                 
    Florida            
    Commercial $ (315 ) $ 314   $ –   $ –   $ –    
    Real estate mortgage – 1 to 4 family   –     –     –     17     –    
    Installment   15     1     42     7     –    
    Total net (recoveries) chargeoffs $ (300 )  $ 315   $ 42   $ 24   $ –    
                 
    Total            
    Commercial $ (318 )  $ 376   $ 65   $ –   $ –    
    Real estate mortgage – 1 to 4 family   41     (316 )   104     (57 )   (78 )  
    Installment   19     42     53     5     36    
    Total net (recoveries) chargeoffs $ (258 )  $ 102   $ 222   $ (52 ) $ (42 )  
                 
                 
    Asset Quality Ratios            
                 
    Total nonperforming loans (1) $ 18,760   $ 18,800   $ 19,444   $ 19,185   $ 18,275    
    Total nonperforming assets (1)   20,867     20,975     21,947     21,519     20,609    
    Total net (recoveries) chargeoffs (2)   (258 )    102     222     (52 )   (42 )  
                 
    Allowance for credit losses on loans (1)   50,606     50,248     49,950     49,772     49,220    
                 
    Nonperforming loans to total loans   0.37 %   0.37 %   0.38 %   0.38 %   0.37 %  
    Nonperforming assets to total assets   0.33 %   0.34 %   0.36 %   0.35 %   0.33 %  
    Allowance for credit losses on loans to total loans   0.99 %   0.99 %   0.99 %   0.99 %   0.98 %  
    Coverage ratio (1)   269.8 %   267.3 %   256.9 %   259.4 %   269.3 %  
    Annualized net (recoveries) chargeoffs to average loans (2)   -0.02 %   0.01 %   0.02 %   0.00 %   0.00 %  
    Allowance for credit losses on loans to annualized net chargeoffs (2)   N/A     123.2x     56.3x     N/A     N/A    
       
    * Includes New York, New Jersey, Vermont and Massachusetts.  
    (1) At period-end  
    (2) For the three-month period ended  
       
    DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
    INTEREST RATES AND INTEREST DIFFERENTIAL
     
    (dollars in thousands)                      
    (Unaudited) Three months ended     Three months ended  
      March 31, 2025     March 31, 2024  
      Average   Interest Average     Average   Interest Average  
      Balance     Rate     Balance     Rate  
    Assets                      
                           
    Securities available for sale:                      
    U. S. government sponsored enterprises $ 74,680     $ 596 3.19 %   $ 125,973     $ 906 2.88 %
    Mortgage backed securities and collateralized mortgage                    
    obligations – residential   239,509       1,483 2.46       258,814       1,494 2.30  
    State and political subdivisions   18       – 6.77       26       0 6.90  
    Corporate bonds   40,019       260 2.60       73,625       476 2.59  
    Small Business Administration – guaranteed                      
    participation securities   15,003       81 2.15       18,224       100 2.20  
    Other   699       7 4.01       696       3 1.72  
                           
    Total securities available for sale   369,928       2,427 2.62       477,358       2,979 2.50  
                           
    Federal funds sold and other short-term Investments   613,646       6,732 4.45       497,652       6,750 5.45  
                           
    Held to maturity securities:                      
    Mortgage backed securities and collateralized mortgage                    
    obligations – residential   5,233       57 4.34       6,329       68 4.30  
                           
    Total held to maturity securities   5,233       57 4.34       6,329       68 4.30  
                           
    Federal Home Loan Bank stock   6,507       151 9.28       6,203       152 9.80  
                           
    Commercial loans   297,926       4,165 5.59       277,183       3,661 5.28  
    Residential mortgage loans   4,385,646       42,614 3.89       4,359,476       40,415 3.71  
    Home equity lines of credit   413,981       6,435 6.30       353,004       5,464 6.22  
    Installment loans   12,967       236 7.37       16,128       264 6.58  
                           
    Loans, net of unearned income   5,110,520       53,450 4.19       5,005,791       49,804 3.98  
                           
    Total interest earning assets   6,105,834     $ 62,817 4.13       5,993,333     $ 59,753 3.99  
                           
    Allowance for credit losses on loans   (50,475 )             (48,824 )        
    Cash & non-interest earning assets   201,154               185,230          
                           
                           
    Total assets $ 6,256,513             $ 6,129,739          
                           
                           
    Liabilities and shareholders’ equity                      
                           
    Deposits:                      
    Interest bearing checking accounts $ 1,038,218     $ 558 0.22 %   $ 990,130     $ 240 0.10 %
    Money market accounts   469,070       1,989 1.72       544,687       2,342 1.73  
    Savings   1,089,358       734 0.27       1,158,558       712 0.25  
    Time deposits   2,054,494       18,984 3.75       1,889,929       19,677 4.19  
                           
    Total interest bearing deposits   4,651,140       22,265 1.94       4,583,304       22,971 2.02  
    Short-term borrowings   83,207       180 0.88       93,316       204 0.88  
                           
    Total interest bearing liabilities   4,734,347     $ 22,445 1.92       4,676,620     $ 23,175 1.99  
                           
    Demand deposits   761,800               726,299          
    Other liabilities   78,748               80,158          
    Shareholders’ equity   681,618               646,662          
                           
    Total liabilities and shareholders’ equity $ 6,256,513             $ 6,129,739          
                           
    Net interest income     $ 40,372           $ 36,578    
                           
    Net interest spread       2.21 %         2.00 %
                           
                           
    Net interest margin (net interest income to                      
    total interest earning assets)       2.64 %         2.44 %
                           

    Non-GAAP Financial Measures Reconciliation

    Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders’ equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets.

    Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets.

    Adjusted efficiency ratio is a non-GAAP measures of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense by the sum of net interest income and total non-interest income. We calculate the adjusted efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income and total noninterest income as determined under GAAP. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent.

    We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible book value to shares outstanding, tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below.  

    NON-GAAP FINANCIAL MEASURES RECONCILIATION        
             
    (dollars in thousands)        
    (Unaudited)        
        3/31/2025 12/31/2024 3/31/2024
    Tangible Book Value Per Share        
             
    Equity (GAAP)   $ 687,808   $ 676,343   $ 649,190  
    Less: Intangible assets     553     553     553  
    Tangible equity (Non-GAAP)   $ 687,255   $ 675,790   $ 648,637  
             
    Shares outstanding     19,020     19,020     19,024  
    Tangible book value per share     36.13     35.53     34.10  
    Book value per share     36.16     35.56     34.12  
             
    Tangible Equity to Tangible Assets        
    Total Assets (GAAP)   $ 6,338,545   $ 6,238,744   $ 6,179,570  
    Less: Intangible assets     553     553     553  
    Tangible assets (Non-GAAP)   $ 6,337,992   $ 6,238,191   $ 6,179,017  
             
    Equity to Assets (GAAP)     10.85 %   10.84 %   10.51 %
    Tangible Equity to Tangible Assets (Non-GAAP)     10.84 %   10.83 %   10.50 %
             
        Three months ended
    Efficiency and Adjusted Efficiency Ratios   3/31/2025 12/31/2024 3/31/2024
             
    Net interest income (GAAP) A $ 40,373   $ 38,902   $ 36,578  
    Non-interest income (GAAP) B   4,974     4,409     4,843  
    Revenue used for efficiency ratio (GAAP) C $ 45,347   $ 43,311   $ 41,421  
             
    Total noninterest expense (GAAP) D $ 26,329   $ 28,165   $ 24,903  
    Less: Other real estate expense, net E   28     476     74  
    Expense used for efficiency ratio (Non-GAAP) F $ 26,301   $ 27,689   $ 24,829  
             
    Efficiency Ratio (GAAP) D/C   58.06 %   65.03 %   59.94 %
    Adjusted Efficiency Ratio (Non-GAAP) F/C   58.00 %   63.93 %   59.94 %
             
    Subsidiary:   Trustco Bank
         
    Contact:   Robert Leonard
        Executive Vice President
        (518) 381-3693

    The MIL Network –

  • MIL-OSI: Kaltura to Announce Financial Results for First Quarter 2025 on Thursday, May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) — Kaltura (Nasdaq: KLTR), the Video Experience Cloud, today announced it will release its first quarter financial results for the period ended March 31, 2025, before market open on Thursday, May 8, 2025.

    Management will host a conference call to review the Company’s first quarter 2025 financial results and discuss the financial outlook.

    Date: Thursday, May 8, 2025
    Time: 8:00 a.m. ET
    United States/Canada Toll Free: 1-877-407-0789
    International Toll: +1-201-689-8562
       

    A live and archived webcast will be available in the Investor Relations section of Kaltura’s website at: https://investors.kaltura.com/news-and-events/events

    About Kaltura
    Kaltura’s mission is to create and power AI-infused hyper-personalized video experiences that boost customer and employee engagement and success. Kaltura’s AI Video Experience Cloud includes a platform for enterprise and TV content management and a wide array of Gen AI-infused video-first products, including Video Portals, LMS and CMS Video Extensions, Virtual Events and Webinars, Virtual Classrooms, and TV Streaming Applications. Kaltura engages millions of end-users at home, at work, and at school, boosting both customer and employee experiences, including marketing, sales, and customer success; teaching, learning, training and certification; communication and collaboration; and entertainment and monetization. For more information, visit www.corp.kaltura.com.

    Investor Contacts:
    Kaltura, Inc.
    John Doherty
    Chief Financial Officer
    IR@Kaltura.com

    Sapphire Investor Relations, LLC
    Erica Mannion and Michael Funari
    IR@Kaltura.com
    +1-617-542-6180

    Media Contacts:
    Kaltura, Inc.
    Nohar Zmora
    pr.team@kaltura.com

    Headline Media
    Raanan Loew
    raanan@headline.media
    +1-347-897-9276

    The MIL Network –

  • MIL-OSI USA: Nadler Statement On Proposed Trump Cuts to Domestic HIV Programs 

    Source: United States House of Representatives – Congressman Jerrold Nadler (10th District of New York)

    WASHINGTON, DC –  Today, Congressman Jerrold Nadler (NY-12) made the following statement in response to the Trump Administration’s reported plan to slash over $40 billion from the Department of Health and Human Services and eliminate all dedicated domestic HIV prevention programs: 

    “It is unconscionable that the Trump Administration has proposed cutting over a third of the Department of Health and Human Services’ budget. As a proud, longtime champion for federal HIV prevention and assistance programs, I am appalled that the administration’s proposed budget would eliminate all federal HIV prevention efforts and devastate funding for HIV research. This is yet another exceptionally cruel and reckless move by the Trump Administration, and it would have devastating consequences for our nation’s public health.

    “Over a million people in this country are living with HIV/AIDS, including more than 100,000 in New York State and over 60,000 in New York City alone. Young people, gay and bisexual men, and people of color are being disproportionately affected. Eliminating our nation’s HIV/AIDS prevention programs would mean many of the most vulnerable among us would lose access to HIV testing, prevention, and care. Simply put, Americans will die as a direct result of the Trump Administration’s cuts.

    “Trump’s budget proposal would eliminate the Ending the HIV/AIDS Epidemic Initiative, the CDC’s Division of HIV Prevention, and the Minority AIDS Initiative. It also eviscerates funding for the Ryan White HIV/AIDS program and slashes the NIH’s budget by 40%. NIH funds the vast majority of research driving breakthroughs in HIV treatment. Trump’s proposed budget cuts compound Republican proposals to slash Medicaid in the upcoming budget reconciliation process, as 40% of adults with HIV are covered by Medicaid.

    “We’ve seen this kind of cruelty before. In the 1980s, we had a President who ignored an epidemic and a Congress reluctant to devote resources to finding its cure. The federal government turned its back on people fighting HIV/AIDS, and as a result, we lost a generation of young men and women far too soon. Nearly half a century later, the administration has put forth a budget proposal that once again abandons Americans who are fighting HIV/AIDS.

    “However, Trump can’t unilaterally make these cuts; he needs the consent of Congress. I vow to continue to fight for full funding for our nation’s HIV/AIDS prevention and research programs in the congressional appropriations process. I’ve led the congressional effort to increase funding for the Housing Opportunities for People with AIDS program, or HOPWA, for over 3 decades. Since its inception in 1992, HOPWA has provided critical housing support to low-income people living with HIV. Linking individuals living with HIV to stable, supportive housing leads to an 80% reduction in mortality from AIDS.

    “New York has always led the fight against HIV/AIDS, and we will not turn our backs now. It is up to this Congress to ensure that Trump’s devastating cuts never become reality. Congress must summon the resolve of the generations who came before us—activists like the founders of ACT UP and Gay Men’s Health Crisis—and fight with everything we have to protect the progress we’ve made.”

    ### 

    MIL OSI USA News –

  • MIL-OSI: NorthEast Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., April 21, 2025 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $10.6 million, or $0.80 per basic share and $0.78 per diluted share, for the three months ended March 31, 2025 compared to net income of $11.4 million, or $0.87 per basic share and $0.86 per diluted share, for the three months ended March 31, 2024.

    Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are, once again, pleased to report another quarter of strong earnings due to the excellent performance of our loan portfolio. Despite the challenging economic operating environment thus far in 2025, loan demand is strong with originations and outstanding commitments robust and increasing. As in the past, construction lending in high demand-high absorption areas continues to be our focus.”

    Highlights for the three months ended March 31, 2025 are as follows:

    • Performance metrics continue to be strong at March 31, 2025, with a return on average total assets ratio of 2.12%, a return on average shareholders’ equity ratio of 12.98%, and an efficiency ratio of 41.64%.
    • Asset quality metrics continued to remain strong with no non-performing loans at either March 31, 2025 or December 31, 2024, and non-performing assets to total assets of 0.26% and 0.25% at March 31, 2025 and at December 31, 2024, respectively. Our allowance for credit losses related to loans totaled $5.1 million, or 0.30% of total loans at March 31, 2025 compared to $4.9 million, or 0.27% of total loans at December 31, 2024.
    • We increased total stockholders’ equity by $8.9 million, or 2.8%, to $327.2 million, or 16.92% of total assets as of March 31, 2025 from $318.3 million, or 15.84% of total assets as of December 31, 2024.

    Balance Sheet Summary

    Total assets decreased $76.2 million, or 3.8%, to $1.9 billion at March 31, 2025, from $2.0 billion at December 31, 2024. The decrease in assets was primarily due to decreases in net loans of $87.3 million and decreases of $1.0 million in accrued interest receivable, partially offset by increases in cash and cash equivalents of $11.2 million and increases of $1.3 million in equity securities.

    Cash and cash equivalents increased $11.2 million, or 14.3%, to $89.5 million at March 31, 2025 from $78.3 million at December 31, 2024. The increase in cash and cash equivalents was a result of a decrease of $87.3 million in net loans and an increase of $8.9 million in stockholders’ equity, partially offset by a decrease in deposits of $84.4 million.

    Equity securities increased $1.3 million, or 5.9%, to $23.3 million at March 31, 2025 from $22.0 million at December 31, 2024. The increase in equity securities was attributable to the purchase of $1.0 million in equity securities during the three months ended March 31, 2025 and market appreciation of $300,000 due to market interest rate volatility during the quarter ended March 31, 2025.

    Securities held-to-maturity decreased $129,000, or 0.9%, to $14.5 million at March 31, 2025 from $14.6 million at December 31, 2024 due to $129,000 in maturities and pay-downs of various investment securities.

    Loans, net of the allowance for credit losses, decreased $87.3 million, or 4.8%, to $1.7 billion at March 31, 2025 from $1.8 billion at December 31, 2024. The decrease in loans consisted of decreases of $138.9 million in construction loans, $248,000 in non-residential loans, and $36,000 in one-to-four family loans. The decrease in our construction loan portfolio was due to normal pay-downs and principal reductions as construction projects were completed and either condominium units were sold to end buyers or multi-family rental buildings were refinanced by other financial institutions. The decrease in construction loans was offset by increases of $46.4 million in multi-family loans, $4.4 million in commercial and industrial loans, and $1.5 million in consumer loans.

    During the quarter ended March 31, 2025, we originated loans totaling $170.1 million consisting primarily of $110.2 million in construction loans, $49.1 million in multi-family loans, $10.1 million in commercial and industrial loans, and $730,000 in mixed-use loans. The $110.2 million in construction loans had 38.4% disbursed at loan closing, with the remaining funds to be disbursed over the terms of the construction loans.

    The allowance for credit losses related to loans increased to $5.1 million as of March 31, 2025, from $4.8 million as of December 31, 2024. The increase in the allowance for credit losses related to loans was due to recoveries totaling $352,000 and provision for credit losses totaling $62,000, offset by charge-offs totaling $117,000.

    Premises and equipment increased $84,000, or 0.3%, to $24.9 million at March 31, 2025 from $24.8 million at December 31, 2024 primarily due to the purchases of additional fixed assets.

    Federal Home Loan Bank stock was $397,000, foreclosed real estate was $5.1 million, and property held for investment was $1.4 million at both March 31, 2025 and December 31, 2024.

    Bank owned life insurance (“BOLI”) increased $167,000, or 0.6%, to $25.9 million at March 31, 2025 from $25.7 million at December 31, 2024 due to increases in the BOLI cash value.

    Accrued interest receivable decreased $1.0 million, or 7.9%, to $12.4 million at March 31, 2025 from $13.5 million at December 31, 2024 due to a decrease in the loan portfolio.

    Right of use assets — operating decreased $145,000, or 3.6%, to $3.9 million at March 31, 2025 from $4.0 million at December 31, 2024, primarily due to amortization.

    Other assets decreased $328,000, or 2.8%, to $11.3 million at March 31, 2025 from $11.6 million at December 31, 2024 due to decreases of $1.7 million in tax assets and $10,000 in miscellaneous assets, partially offset by increases of $1.1 million in suspense accounts and $263,000 in prepaid expenses.

    Total deposits decreased $84.4 million, or 5.1%, to $1.6 billion at March 31, 2025 from $1.7 billion at December 31, 2024. The decrease in deposits was primarily due to decreases in certificates of deposit of $125.1 million, or 12.5%, and non-interest bearing deposits of $9.9 million, or 3.5%, partially offset by increases in NOW/money market accounts of $45.9 million, or 18.8%, and savings account balances of $3.3 million, or 2.4%. The decrease of $125.1 million in certificates of deposit consisted of a decrease in retail certificates of deposit of $76.0 million, or 14.8%, and a decrease in brokered certificates of deposit of $54.8 million, or 12.6%, partially offset by an increase in non-brokered listing services certificates of deposit of $5.7 million, or 17.0%.

    The decrease in retail certificates of deposit was due to a shift in deposits to our retail high yield money market accounts. The decrease in brokered certificates of deposit was due to management’s strategy to reduce the cost of funds by “calling” higher rate brokered deposits on their call dates.

    Advance payments by borrowers for taxes and insurance increased $680,000, or 42.0%, to $2.3 million at March 31, 2025 from $1.6 million at December 31, 2024 due primarily to accumulation of real estate tax payments from borrowers.

    Lease liability – operating decreased $136,000, or 3.3%, to $4.0 million at March 31, 2025 from $4.1 million at December 31, 2024, primarily due to amortization.

    Accounts payable and accrued expenses decreased $1.3 million, or 8.7%, to $13.3 million at March 31, 2025 from $14.5 million at December 31, 2024 due primarily to a decrease in accrued expense of $2.8 million, partially offset by increases in dividends payable and other payables of $806,000, suspense accounts for loan closings of $346,000, and deferred compensation of $167,000. The allowance for credit losses for off-balance sheet commitments increased $175,000, or 24.8%, to $879,000 at March 31, 2025 from $704,000 at December 31, 2024 due primarily to an increase of $101.4 million, or 18.0%, in off-balance sheet commitments.

    Stockholders’ equity increased $8.9 million, or 2.8% to $327.2 million at March 31, 2025, from $318.3 million at December 31, 2024. The increase in stockholders’ equity was due to net income of $10.6 million for the quarter ended March 31, 2025, an increase of $302,000 in earned employee stock ownership plan shares coupled with a reduction of $217,000 in unearned employee stock ownership plan shares, and the amortization expense of $478,000 relating to restricted stock and stock options granted under the Company’s 2022 Equity Incentive Plan, partially offset by dividends declared of $2.7 million and $13,000 in other comprehensive loss.

    Results of Operations for the Three Months Ended March 31, 2025 and 2024

    Net Interest Income

    Net interest income was $24.3 million for the three months ended March 31, 2025, as compared to $25.0 million for the three months ended March 31, 2024. The decrease in net interest income of $722,000, or 2.9%, was primarily due to an increase in interest expense that exceeded an increase in interest income and a decrease in the yield on interest earning assets that exceeded a decrease in the cost of funds for interest bearing liabilities.

    Total interest and dividend income increased $86,000, or 0.2%, to $38.2 million for the three months ended March 31, 2025 from $38.1 million for the three months ended March 31, 2024. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $159.9 million, or 9.2%, to $1.9 billion for the three months ended March 31, 2025 from $1.7 billion for the three months ended March 31, 2024, partially offset by a decrease in the yield on interest earning assets by 72 basis points from 8.77% for the three months ended March 31, 2024 to 8.05% for the three months ended March 31, 2025.

    Interest expense increased $808,000, or 6.2%, to $13.9 million for the three months ended March 31, 2025 from $13.1 million for the three months ended March 31, 2024. The increase in interest expense was due to an increase in average interest bearing liabilities of $149.7 million, or 12.2%, to $1.4 billion for the three months ended March 31, 2025 from $1.2 billion for the three months ended March 31, 2024, partially offset by a decrease in the cost of interest bearing liabilities by 24 basis points from 4.29% for the three months ended March 31, 2024 to 4.05% for the three months ended March 31, 2025.

    Our net interest margin decreased 64 basis points, or 11.1%, to 5.11% for the three months ended March 31, 2025 compared to 5.75% for the three months ended March 31, 2024. The decrease in the net interest margin was due to a decrease in the yield on interest-earning assets that exceeded a decrease in the cost of funds on interest-bearing liabilities.

    Credit Loss Expense

    The Company recorded a credit loss expense of $237,000 for the three months ended March 31, 2025 compared to a credit loss expense reduction of $165,000 for the three months ended March 31, 2024. The credit loss expense of $237,000 for the three months ended March 31, 2025 was comprised of credit loss expense for loans of $62,000 and credit loss expense for off-balance sheet commitments of $175,000.

    The credit loss expense for loans of $62,000 for the three months ended March 31, 2025 was primarily due to an increase in the multi-family loan portfolio. The credit loss expense for off-balance sheet commitments of $175,000 for the three months ended March 31, 2025 was primarily due to an increase in unfunded off-balance sheet commitments.

    The credit loss expense reduction of $165,000 for the three months ended March 31, 2024 was comprised of a credit loss expense reduction for loans of $145,000, a credit loss expense reduction for held-to-maturity investment securities of $3,000, and a credit loss expense reduction for off-balance sheet commitments of $17,000. The credit loss expense reduction for loans of $145,000 for the three months ended March 31, 2024 was primarily attributed to favorable trend in the economy.

    With respect to the allowance for credit losses for loans, we charged-off $117,000 during the three months ended March 31, 2025 as compared to charge-offs of $21,000 during the three months ended March 31, 2024. The charge-offs during both periods were against various unpaid overdrafts in our demand deposit accounts.

    We recorded recoveries of $352,000 during the three months ended March 31, 2025 compared to no recoveries during the three months ended March 31, 2024. The recoveries of $352,000 during the three months ended March 31, 2025 comprised of recoveries of $350,000 regarding a previously charged-off non-residential mortgage loan and $2,000 from a previously charged-off unpaid overdraft on a demand deposit account.

    Non-Interest Income

    Non-interest income for the three months ended March 31, 2025 was $1.2 million compared to non-interest income of $554,000 for the three months ended March 31, 2024. The increase of $681,000, or 122.9%, in total non-interest income was primarily due to increases of $382,000 in unrealized gain/(loss) on equity securities, $278,000 in other loan fees and service charges, $11,000 in miscellaneous other non-interest income, and $10,000 in BOLI income.

    The increase in unrealized gain/(loss) on equity securities was due to an unrealized gain of $300,000 on equity securities during the three months ended March 31, 2025 compared to an unrealized loss of $82,000 on equity securities during the three months ended March 31, 2024. The unrealized gain of $300,000 on equity securities during the three months ended March 31, 2025 was due to market interest rate volatility during the three months ended March 31, 2025.

    The increase of $278,000 in other loan fees and service charges was due to an increase of $245,000 in other loan fees and loan servicing fees, an increase of $31,000 in ATM/debit card/ACH fees, and an increase of $2,000 in deposit account fees.

    The increase in BOLI income of $10,000 was due to an increase in the yield on BOLI assets.

    Non-Interest Expense

    Non-interest expense increased $938,000, or 9.7%, to $10.6 million for the three months ended March 31, 2025 from $9.7 million for the three months ended March 31, 2024. The increase resulted primarily from increases of $582,000 in salaries and employee benefits, $221,000 in other operating expense, $98,000 in outside data processing expense, $40,000 in occupancy expense, $19,000 in real estate owned expense, and $14,000 in advertising expense, partially offset by a decrease of $36,000 in equipment expense.

    Income Taxes

    We recorded income tax expense of $4.1 million and $4.7 million for the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025, we had approximately $204,000 in tax exempt income, compared to approximately $195,000 in tax exempt income for the three months ended March 31, 2024. Our effective income tax rates were 27.8% for the three months ended March 31, 2025 compared to 29.0% for the three months ended March 31, 2024.

    Asset Quality

    Non-performing assets were $5.1 million at March 31, 2025 and December 31, 2024, respectively. These non-performing assets consisted of two foreclosed properties, with one foreclosed property totaling $4.4 million located in the Bronx, New York and one foreclosed property totaling $767,000 located in Pittsburgh, Pennsylvania.

    Our ratio of non-performing assets to total assets remained low at 0.26% at March 31, 2025 as compared to 0.25% at December 31, 2024.

    The Company’s allowance for credit losses related to loans was $5.1 million, or 0.30% of total loans as of March 31, 2025, compared to $4.8 million, or 0.27% of total loans as of December 31, 2024. Based on a review of the loans that were in the loan portfolio at March 31, 2025, management believes that the allowance for credit losses related to loans is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.

    In addition, at March 31, 2025, the Company’s allowance for credit losses related to off-balance sheet commitments totaled $879,000 and the allowance for credit losses related to held-to-maturity debt securities totaled $126,000.

    Capital

    The Company’s total stockholders’ equity to assets ratio was 16.92% as of March 31, 2025. At March 31, 2025, the Company had the ability to borrow $941.3 million from the Federal Reserve Bank of New York, $15.5 million from the Federal Home Loan Bank of New York, and $8.0 million from Atlantic Community Bankers Bank.

    The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of March 31, 2025, the Bank had a tier 1 leverage capital ratio of 15.09% and a total risk-based capital ratio of 15.10%.

    The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or 10%, of the Company’s issued and outstanding common stock. The cost of the stock repurchase program totaled $23.0 million, including commission costs and Federal excise taxes. Of the total shares repurchased under this program, 957,275 of such shares were repurchased during 2023 at a total cost of $13.7 million, including commission costs and Federal excise taxes.

    The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or 10%, of the Company’s issued and outstanding common stock. As of March 31, 2025, the Company had repurchased 1,091,174 shares of common stock under its second repurchase program, at a cost of $17.2 million, including commission costs and Federal excise taxes.

    About NorthEast Community Bancorp

    NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

    Forward Looking Statement

    This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation or recessionary conditions and their impact on regional and national economic conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

    CONTACT:   Kenneth A. Martinek
        Chairman and Chief Executive Officer
         
    PHONE:   (914) 684-2500
     
    NORTHEAST COMMUNITY BANCORP, INC.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (Unaudited)
                 
        March 31,   December 31,
        2025   2024
        (In thousands, except share
        and per share amounts)
    ASSETS            
    Cash and amounts due from depository institutions   $ 11,524     $ 13,700  
    Interest-bearing deposits     77,934       64,559  
    Total cash and cash equivalents     89,458       78,259  
    Certificates of deposit     100       100  
    Equity securities     23,294       21,994  
    Securities held-to-maturity ( net of allowance for credit losses of $126 and $126, respectively )     14,487       14,616  
    Loans receivable     1,725,664       1,812,647  
    Deferred loan fees, net     (63 )     (49 )
    Allowance for credit losses     (5,127 )     (4,830 )
    Net loans     1,720,474       1,807,768  
    Premises and equipment, net     24,889       24,805  
    Investments in restricted stock, at cost     397       397  
    Bank owned life insurance     25,905       25,738  
    Accrued interest receivable     12,432       13,481  
    Real estate owned     5,120       5,120  
    Property held for investment     1,361       1,370  
    Right of Use Assets – Operating     3,856       4,001  
    Right of Use Assets – Financing     346       347  
    Other assets     11,257       11,585  
    Total assets   $ 1,933,376     $ 2,009,581  
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Liabilities:            
    Deposits:            
    Non-interest bearing   $ 278,694     $ 287,135  
    Interest bearing     1,307,321       1,383,240  
    Total deposits     1,586,015       1,670,375  
    Advance payments by borrowers for taxes and insurance     2,298       1,618  
    Lease Liability – Operating     3,972       4,108  
    Lease Liability – Financing     619       609  
    Accounts payable and accrued expenses     13,262       14,530  
    Total liabilities     1,606,166       1,691,240  
                 
    Stockholders’ equity:            
    Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding   $ —     $ —  
    Common stock, $0.01 par value; 75,000,000 shares authorized; 14,023,376 shares and 14,016,254 shares outstanding, respectively     140       140  
    Additional paid-in capital     110,871       110,091  
    Unearned Employee Stock Ownership Plan (“ESOP”) shares     (5,870 )     (6,088 )
    Retained earnings     221,858       213,974  
    Accumulated other comprehensive gain     211       224  
    Total stockholders’ equity     327,210       318,341  
    Total liabilities and stockholders’ equity   $ 1,933,376     $ 2,009,581  
                 
     
    NORTHEAST COMMUNITY BANCORP, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
     
        Quarter Ended March 31,
        2025   2024
        (In thousands, except per share amounts)
    INTEREST INCOME:              
    Loans   $ 36,882     $ 36,703  
    Interest-earning deposits     1,081       1,200  
    Securities     244       218  
    Total Interest Income     38,207       38,121  
    INTEREST EXPENSE:              
    Deposits     13,933       12,394  
    Borrowings     –       731  
    Financing lease     10       10  
    Total Interest Expense     13,943       13,135  
    Net Interest Income     24,264       24,986  
    Provision for (reversal of) credit loss     237       (165 )
    Net Interest Income after Provision for (Reversal of) Credit Loss     24,027       25,151  
    NON-INTEREST INCOME:              
    Other loan fees and service charges     740       462  
    Earnings on bank owned life insurance     167       157  
    Unrealized gain (loss) on equity securities     300       (82 )
    Other     28       17  
    Total Non-Interest Income     1,235       554  
    NON-INTEREST EXPENSES:              
    Salaries and employee benefits     5,933       5,351  
    Occupancy expense     747       707  
    Equipment     217       253  
    Outside data processing     735       637  
    Advertising     102       88  
    Real estate owned expense     30       11  
    Other     2,855       2,634  
    Total Non-Interest Expenses     10,619       9,681  
    INCOME BEFORE PROVISION FOR INCOME TAXES     14,643       16,024  
    PROVISION FOR INCOME TAXES     4,076       4,650  
    NET INCOME   $ 10,567     $ 11,374  
                   
     
    NORTHEAST COMMUNITY BANCORP, INC.
    SELECTED CONSOLIDATED FINANCIAL DATA
    (Unaudited)
     
        Quarter Ended March 31,
        2025   2024
        (In thousands, except per share amounts)
    Per share data:            
    Earnings per share – basic   $ 0.80     $ 0.87  
    Earnings per share – diluted     0.78       0.86  
    Weighted average shares outstanding – basic     13,192       13,118  
    Weighted average shares outstanding – diluted     13,560       13,191  
    Performance ratios/data:            
    Return on average total assets     2.12 %     2.50 %
    Return on average shareholders’ equity     12.98 %     15.88 %
    Net interest income   $ 24,264     $ 24,986  
    Net interest margin     5.11 %     5.75 %
    Efficiency ratio     41.64 %     37.91 %
    Net charge-off ratio     (0.05 )%     0.00 %
                 
    Loan portfolio composition:     March 31, 2025     December 31, 2024
    One-to-four family   $ 3,436     $ 3,472  
    Multi-family     253,018       206,606  
    Mixed-use     26,572       26,571  
    Total residential real estate     283,026       236,649  
    Non-residential real estate     29,198       29,446  
    Construction     1,287,225       1,426,167  
    Commercial and industrial     123,113       118,736  
    Consumer     3,102       1,649  
    Gross loans     1,725,664       1,812,647  
    Deferred loan fees, net     (63 )     (49 )
    Total loans   $ 1,725,601     $ 1,812,598  
    Asset quality data:            
    Loans past due over 90 days and still accruing   $ –     $ –  
    Non-accrual loans     –       –  
    OREO property     5,120       5,120  
    Total non-performing assets   $ 5,120     $ 5,120  
                 
    Allowance for credit losses to total loans     0.30 %     0.27 %
    Allowance for credit losses to non-performing loans     0.00 %     0.00 %
    Non-performing loans to total loans     0.00 %     0.00 %
    Non-performing assets to total assets     0.26 %     0.25 %
                 
    Bank’s Regulatory Capital ratios:            
    Total capital to risk-weighted assets     15.10 %     13.92 %
    Common equity tier 1 capital to risk-weighted assets     14.79 %     13.65 %
    Tier 1 capital to risk-weighted assets     14.79 %     13.65 %
    Tier 1 leverage ratio     15.09 %     14.44 %
     
    NORTHEAST COMMUNITY BANCORP, INC.
    NET INTEREST MARGIN ANALYSIS
    (Unaudited)
     
        Quarter Ended March 31, 2025   Quarter Ended March 31, 2024
        Average
    Balance    		   Interest
    and dividend    		   Average
    Yield    		   Average
    Balance    		   Interest
    and dividend    		   Average
    Yield
        (In thousands, except yield/cost information)   (In thousands, except yield/cost information)
    Loan receivable gross   $ 1,767,849     $ 36,882     8.35 %   $ 1,612,343     $ 36,703     9.11 %
    Securities     36,751       235     2.56 %     33,848       197     2.33 %
    Federal Home Loan Bank stock     397       9     9.07 %     842       21     9.98 %
    Other interest-earning assets     93,476       1,081     4.63 %     91,552       1,200     5.24 %
    Total interest-earning assets     1,898,473       38,207     8.05 %     1,738,585       38,121     8.77 %
    Allowance for credit losses     (4,827 )                 (5,091 )            
    Non-interest-earning assets     96,493                   88,859              
    Total assets   $ 1,990,139                 $ 1,822,353              
                                         
    Interest-bearing demand deposit   $ 274,630     $ 2,445     3.56 %   $ 171,483     $ 1,817     4.24 %
    Savings and club accounts     138,903       730     2.10 %     182,771       1,202     2.63 %
    Certificates of deposit     962,084       10,758     4.47 %     810,586       9,375     4.63 %
    Total interest-bearing deposits     1,375,617       13,933     4.05 %     1,164,840       12,394     4.26 %
    Borrowed money     –       10     0.00 %     61,092       741     4.85 %
    Total interest-bearing liabilities     1,375,617       13,943     4.05 %     1,225,932       13,135     4.29 %
    Non-interest-bearing demand deposit     270,874                   291,909              
    Other non-interest-bearing liabilities     18,086                   18,090              
    Total liabilities     1,664,577                   1,535,931              
    Equity     325,562                   286,422              
    Total liabilities and equity   $ 1,990,139                 $ 1,822,353              
                                         
    Net interest income / interest spread         $ 24,264     4.00 %         $ 24,986     4.48 %
    Net interest rate margin                 5.11 %                 5.75 %
    Net interest earning assets   $ 522,856                 $ 512,653              
    Average interest-earning assets                                    
    to interest-bearing liabilities     138.01 %                 141.82 %            

    The MIL Network –

  • MIL-OSI USA: Rep. Clyde Visits Chatuge Dam to Advocate for Sensible Approach to Address Spillway Vulnerabilities

    Source: United States House of Representatives – Representative Andrew S. Clyde (R-GA)

    Rep. Clyde Visits Chatuge Dam to Advocate for Sensible Approach to Address Spillway Vulnerabilities

    Gainesville, April 21, 2025

     

    GAINESVILLE, GA — Last week, Congressman Andrew Clyde (GA-09) visited the Chatuge Dam with Towns County Sole Commissioner Cliff Bradshaw, Towns County EMA Director Marty Roberts, and members of Rep. Chuck Edwards’ (NC-11) staff to meet with Tennessee Valley Authority (TVA) officials and discuss the TVA’s proposed plans to address spillway safety concerns.

     

    A recent TVA study identified a key vulnerability in the spillway of Chatuge Dam. While the conditions of the current spillway are not an emergency, the TVA is aiming to improve the safety of the spillway to reduce the risk of the dam’s long-term operations. The TVA study has judged the spillway at Chatuge Dam exhibits some of the vulnerabilities that led to the damage and failure of the Oroville Dam spillway in California. To address the issue, the agency announced four potential alternatives for a long-term solution.

    “My top priority is reaching a sensible approach to a long-term solution that benefits both the structural integrity of Chatuge Dam and the well-being of local communities,” said Clyde. “Residents, local officials, and small business owners throughout Towns County have shared serious concerns about the potential disastrous economic consequences of the Tennessee Valley Authority’s current proposals for dam modification. Given Chatuge Lake attracts incredible tourism and seasonal activity, potential drawdown plans present tremendous challenges to the economic lifeblood of Towns County. My office and I remain highly engaged in this matter, and I look forward to working with local officials, stakeholders, and the TVA to reach the best solution that effectively balances the safety of spillway operations and the continued economic prosperity of our North Georgia community.”

     

    “Last week, Towns County officials visited with Congressman Andrew Clyde at Chatuge Dam to discuss TVA’s proposals for dam modification. I am extremely grateful for Congressman Clyde’s response to the concerns of Towns County constituents — the potential impact of a long-term drawdown of Chatuge Lake would be disastrous to the livelihood of our community,” said Towns County Sole Commissioner Cliff Bradshaw.

     

    “I would like to thank everyone in the County for their support. I highly encourage residents to provide input during TVA’s public commenting period. TVA will be hosting a series of public meetings and accepting public comments starting April 22 through May 28,” Bradshaw added.

     

    Public Meetings:

    • May 6th | 5:30 – 6:30 PM: Virtual public meeting
    • May 8th | 5:30 – 7:30 PM: Hayesville, NC at the Community Services Building on Riverside Circle
    • May 13th | 5:00 – 7:00 PM: Young Harris, GA at the Towns County Recreation Center
    • May 15th | 5:30 – 6:30 PM: Virtual public meeting

     

    Additional information on the Tennessee Valley Authority receiving public input on Chatuge Dam safety modifications can be found HERE.

     

    Details on the TVA’s notice of intent, including proposed plans, is available in the Federal Register HERE.

     

     

    Rep. Clyde Observes Chatuge Dam Spillway

     

     

    Chatuge Dam Spillway

     

     

    Rep. Clyde Reviews TVA’s Proposals for Dam Modification

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Data Users Conference: Strengthening the Bridge Between Data Producers and Users

    Source: Government of India

    Posted On: 21 APR 2025 9:07PM by PIB Delhi

    The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), organized the Data Users Conference on 21st April 2025, in collaboration with the Indira Gandhi Institute of Development Research (IGIDR), Mumbai.

    The conference aimed to foster constructive dialogue between data producers and data users, facilitating knowledge exchange on methodologies, insights from the latest Household Consumption Expenditure Survey, Methodology changes in PLFS and key initiatives in macro-economic statistics including GDP and Consumer Price Indices. The event witnessed active participation from more than 250 attendees comprising policymakers, academicians, researchers, economists, industry representatives, and international organizations.

    The conference was chaired by Dr. Saurabh Garg, Secretary, MoSPI, who emphasized the Ministry’s core vision of ‘Data for Development’. He highlighted MoSPI’s efforts toward enhancing data credibility, timeliness, accessibility, and relevance through technological interventions for timely release of key indicators like PLFS monthly estimates, quarterly unincorporated sector surveys, and a focus on comprehensive metadata standardization. He underlined the Ministry’s commitment to integrate administrative and survey data to fill existing gaps in the statistical ecosystem. Dr. Garg mentioned that MoSPI has actively working with research institutes to promote collaborative research.

    In his address, Dr. Nilkanth Mishra, Member, EAC-PM and Chairman, UIDAI, underscored the pressing need for more granular and timely data, especially in light of India’s fast-evolving digital and informal economy. Drawing from personal experiences, he highlighted the critical gaps in economic data and appreciated MoSPI’s ongoing efforts to modernize the data access for both private and public stakeholders.

    Ms. Geeta Singh Rathore, Director General (NSS), elaborated on recent advancements in the Periodic Labour Force Survey (PLFS), particularly the expansion of estimates of the Labour statistics to rural areas and the introduction of monthly releases of PLFS for enhanced policy responsiveness.

    Prof. Basanta Kumar Pradhan, Director, IGIDR, welcomed the delegates and acknowledged MoSPI’s role in promoting an ecosystem of data-driven research and policy-making. He emphasized the importance of understanding data generation processes, recognizing limitations, and integrating user feedback to refine methodologies.

    These key note addresses set the stage for technical sessions. The conference features four technical sessions.

    The forenoon technical sessions covered:

    • The first session has a detailed presentation on the sampling design used in NSS household surveys. The session continued with a presentation on the ‘Lessons Learned from HCES 2022-23 and 2023-24, highlighted on the key changes introduced in the most recent rounds of HCES. The presentations are followed by an enriched panel discussion and suggested to generate consumption data at sector level on quarterly basis, standardization of tools for improving the quality and exploring the scope of introducing the concepts of ‘spending’ instead of consumption as a measure of MPCE.
    • Updates on the evolution of the Periodic Labour Force Survey (PLFS), including the original objectives from its 2017 launch and recent changes implemented from January 2025. Key updates include generating monthly estimates of labour market indicators (LFPR, WPR, and UR) for both rural and urban areas, expanding quarterly estimates to rural regions, and allowing district-level estimates in collaboration with states.

    In the afternoon session Shri N.K. Santoshi, DG (Central Statistics), MoSPI, in his  opening remarks highlighted the initiatives taken by the MoSPI for updating the base years of key macro-economic indicators viz GDP and CPI.

    The afternoon technical sessions covered:

    • The session includes a presentation on compilation of GDP estimates and base year revision detailing the framework of compilation, proposed improvements in base revision and issues in interpreting the estimates. This was followed by a panel discussion wherein panellist recommended to publish detailed documentation of sources and methods, need for consistent and coherent back-series data. They also welcomed the proposed use of new data sources such as GSTN, UPI etc. in the new base.
    • During the session on CPI, the ongoing work on CPI revision, key upcoming changes such as the adoption of COICOP 2018, expanded service and market coverage, integration of online data sources, and improvements in the Housing Index methodology were presented. The presentation was followed by a panel discussion wherein it was suggested to release seasonally adjusted inflation data. MoSPI informed that a study in collaboration with IIT Kanpur for developing seasonally adjusted CPI figures for India is underway.

    Post-panel discussions, the floor was opened for discussions, providing participants to directly engage with the speakers and panelists.    

    The conference reaffirmed the collective commitment of MoSPI, IGIDR, and data users to uphold and advance the quality, integrity, and usability of official statistics in India. It concluded with a call to further deepen cooperation, embrace technological advancements, and ensure data remains at the heart of evidence-based policymaking.

    The Data User Conference concluded with the key take away of need for standardization between the statistical products.

    For more details on the survey reports and upcoming statistical releases, please visit the official MoSPI website: www.mospi.gov.in.

    ****

    Samrat

    (Release ID: 2123310) Visitor Counter : 33

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hotel & Restaurant Federation gears up for country-wide International Day of Yoga 2025 observation

    Source: Government of India

    Posted On: 21 APR 2025 6:22PM by PIB Delhi

    The private sector taking leadership roles in public yoga activities, in pursuit of Prime Minister Shri Narendra Modi’s call to take the rewards of yoga to every corner of the country, is an unmissable trend in the countdown to the IDY this year.

    Aligning with this trend, the Federation of Hotel & Restaurant Association of India (FHRAI) announced their early plans, with their members proudly taking up “Harit Yoga” activities. These include:

    1. Yoga Retreat on 22nd April 2025 – Atmantan Wellness Centre, Mulshi, Maharashtra. An immersive yoga retreat set in the serene Sahyadri hills, offering a deep connection with nature and the self.
    2. Campus event on 29th April 2025 – FHRAI Institute of Hospitality Management (FHRAI-IHM), Greater Noida . A vibrant campus event engaging future hospitality leaders in the principles of yoga and sustainability.
    3. Event on 17th May 2025 at JW Marriott, Bangalore. A flagship gathering in the heart of the city, celebrating wellness in urban life through a rich blend of yoga, dialogue, and community action.

    The Federation added in their announcement that these events are not just symbolic- they represent FHRAI’s steadfast commitment to supporting the Government of India’s vision of a healthier, greener, and more mindful society. Through these collaborative efforts, FHRAI aim to amplify the message of yoga as a lifestyle, deeply rooted in Indian tradition yet universally relevant in today’s world.

    Harit Yoga is one among the 10 Signature Activities being coordinated by the Ministry of Ayush in the run-up to IDY 2025, to mark the special occasion of the IDY observation completing 10 years. The project combines wellness and environmental awareness and seeks to use the medium of yoga to propagate the message of the conservation of the environment. Harit Yoga activities typically go beyond Yoga sessions, and participants will engage in eco-friendly activities like tree planting, beach clean-ups, and community-driven environmental efforts. It will also include educational campaigns covering critical topics like climate change and conservation, encouraging sustainable lifestyles. The last two weeks have seen the emergence of international participation in Harit Yoga, and it will inspire worldwide communities to join these environmentally conscious initiatives.

    FHRAI has made plans to conduct yoga events on a large scale in preparation for IDY-2025. As informed by Ms. Payal Swami, Assistant Secretary General of the Federation, FHRAI is proud to stand with the Government in the yoga movement and looks forward to making their IDY events inclusive and impactful.

    ****

    MV/AKS

    (Release ID: 2123245) Visitor Counter : 173

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Civil Aviation Minister Shri Ram Mohan Naidu takes stock of Delhi Airport runway upgrade

    Source: Government of India

    Civil Aviation Minister Shri Ram Mohan Naidu takes stock of Delhi Airport runway upgrade

    Stakeholder meeting held to ensure smooth operations at Delhi Airport

    Posted On: 21 APR 2025 8:45PM by PIB Delhi

    Union Minister for Civil Aviation, Shri Ram Mohan Naidu, today chaired a crucial stakeholder meeting at Delhi Airport to address operational challenges arising from the ongoing upgradation work on runway 10/28 and the impact of unexpected westerly wind patterns. The meeting had participation of all the stakeholders from the Ministry of Civil Aviation, including Secretary Shri Vumlunmang Vualnam, Airports Authority of India (AAI) Chairman Shri Vipin Kumar, DGCA Director General Shri Faiz Ahmed Kidwai, along with representatives from Delhi International Airport Limited (DIAL), all the airlines and the CISF.

    During the meeting, the Minister reviewed the current situation, emphasizing the importance of ensuring minimal disruption to passengers and airline operations. Shri Ram Mohan Naidu stressed that smooth operations at Delhi Airport are of paramount importance and directed all stakeholders to work collaboratively to address the challenges effectively. He emphasized on the need for comprehensive planning that factors in both the ongoing runway upgradation and potential weather-related disruptions.

    Reiterating that passenger comfort and convenience must remain the top priority, Shri Ram Mohan Naidu has given strict instruction to all stakeholders to take timely, pre-emptive measures based on weather updates and ensure efficient utilization of available resources.

    Addressing the workforce readiness, the Minister called for enhanced coordination amongst the stakeholders to prepare for any unforeseen challenges, ensuring seamless airport operations despite 1 of the 4 runways under upgradation. The Air Traffic Control (ATC) and AAI teams have been encouraged to leverage their expertise for maintain operational efficiency during this critical period.

    Shri Ram Mohan Naidu expressing confidence in the collective capabilities said, “I am confident that with collective efforts and robust coordination, Delhi Airport will continue to deliver a world-class experience to its travelers, even amidst the challenges posed by infrastructure enhancements and unexpected weather conditions.”

    The meeting focused on the importance of transparent and timely communication with passengers to alleviate any inconvenience during this period. The discussion concluded with a clear emphasis on meeting the runway upgradation timelines while minimizing disruptions to airlines and inconvenience to passengers.

    The Ministry remains committed to prioritizing passenger convenience and operational efficiency, ensuring that India’s aviation sector remains a benchmark for excellence.

    ***

    Beena Yadav/Divyanshu Kumar

    (Release ID: 2123298) Visitor Counter : 23

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister of Civil Aviation Shri Ram Mohan Naidu visits Air India Hq and training facilities in Gurugram

    Source: Government of India

    Union Minister of Civil Aviation Shri Ram Mohan Naidu visits Air India Hq and training facilities in Gurugram

    Shri Ram Mohan Naidu inaugurates Air India Safety Promotion Centre

    Posted On: 21 APR 2025 8:17PM by PIB Delhi

    Minister of Civil Aviation, Shri Ram Mohan Naidu, today undertook a comprehensive visit to Air India’s corporate and training infrastructure in Gurugram, reflecting the Ministry’s commitment to enhancing safety, training, and operational excellence in Indian aviation. His visit commenced with a walkthrough of the Air India Experience Centre, a facility that encapsulates the airline’s 92-year legacy and showcases its Vihaan.AI transformation journey.

    The Minister then visited the Emergency Control Centre (ECC) and the Integrated Operations Control Centre (IOCC)-critical facilities that underscore Air India’s operational resilience and commitment to on-time performance. At the Air India Aviation Training Academy in Gurugram, he received an overview of the Academy’s role in shaping aviation professionals, followed by an in-depth tour of training infrastructure including the Safety Lab, Grooming Centre, Security Lab, and the under-construction Simulator Buildings.

    The visit marked a key milestone with the inauguration of the Air India Safety Promotion Centre by Shri  Ram Mohan Naidu in the presence of the Chairman of Tata Sons and Air India. Speaking at the occasion, he said, “On the occasion of inaugurating the Air India Safety Promotion Centre, I am pleased to see a strong commitment towards fostering a safety-first culture in Indian aviation.” “I congratulate Air India for bolstering safety by investing in training its manpower through this state-of-the-art centre inaugurated today, where learnings from past incidents have been thoughtfully curated and translated into immersive, real-world training that goes far beyond the classroom” he added.

    Commenting on the broader vision for Indian aviation, the Minister said, “As India expands its air connectivity across regions, safety remains our top priority. Air India, under the stewardship of the Tata Group and with the dedicated efforts of its committed staff carrying forward the legacy of JRD Tata, is well on its path to becoming one of the world’s best airlines.” He also reiterated the government’s continued partnership with the aviation sector “The Government of India extends its full support to our airlines in building a globally competitive, safe, and reliable aviation ecosystem.”

    The Safety Promotion Centre aims to cultivate a safety-first culture within Air India through immersive learning experiences that draw from real-world scenarios and past incidents. The visit underscored the Ministry’s focus on strengthening India’s aviation infrastructure through enhanced safety protocols, advanced training, and close collaboration with industry stakeholders. Earlier, the Minister was welcomed at the Air India Headquarters by Mr Campbell Wilson, CEO & MD of Air India and his management team.

    ****

    Beena Yadav/Divyanshu Kumar

    (Release ID: 2123287) Visitor Counter : 96

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Office of the Governor — Flag Order — Gov. Green Lowers Flags in Honor of Pope Francis

    Source: US State of Hawaii

    STATE OF HAWAIʻI 
    KA MOKU ʻĀINA O HAWAIʻI 

    JOSH GREEN, M.D. 
    GOVERNOR
    KE KIAʻĀINA 

    GOVERNOR GREEN LOWERS FLAGS IN HONOR OF POPE FRANCIS

    FOR IMMEDIATE RELEASE
    April 21, 2025

    HONOLULU — At the direction of the President of the United States, Governor Josh Green, M.D., has ordered that the United States flag and the Hawaiʻi state flag be flown at half-staff at all state offices and agencies, as well as at the Hawaiʻi National Guard, immediately until the date of interment, to honor the life and legacy of His Holiness Pope Francis.

    This directive aligns with the proclamation issued by President Donald J. Trump, who ordered all U.S. flags to be flown at half-staff during this period.

    “Pope Francis was a beacon of compassion, humility, and service,” said Governor Green. “His unwavering commitment to the marginalized and his call for global solidarity have left an indelible mark on the world. Hawai‘i joins the global community in mourning his passing and honoring his profound legacy.”

    Governor Green encourages all Hawaiʻi residents to reflect on Pope Francis’ enduring message of peace, justice and care for the vulnerable.

    # # #


    Media Contacts:  
    Erika Engle
    Press Secretary
    Office of the Governor, State of Hawai‘i
    Office: 808-586-0120
    Email: [email protected] 

    Makana McClellan
    Director of Communications
    Office of the Governor, State of Hawaiʻi
    Cell: 808-265-0083
    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI Security: BAKER WOMAN SENTENCED TO 30 MONTHS IN FEDERAL PRISON FOR WIRE FRAUD

    Source: Office of United States Attorneys

    Acting United States Attorney April M. Leon announced that U.S. District Judge Brian A. Jackson sentenced Erin D. Jones, 49, of Baker, Louisiana, to 30 months in federal prison following her conviction for wire fraud. The Court further sentenced Jones to serve three years of supervised release following her term of imprisonment, ordered her to pay $334,092.03 in restitution, and entered a money judgment against the defendant for an additional $334,092.03.

    According to admissions made as part of her guilty plea, Jones worked part-time at a small business in Baton Rouge, Louisiana, that provided truck and diesel engine repair services and was trusted to assist with the company’s book-keeping and accounting, among other tasks. Jones held bank accounts at JPMorgan Chase Bank and Hancock Whitney Bank (collectively, the “banks”), and the company also maintained a business bank account at Hancock Bank.

    Beginning in or about May of 2019 and continuing through April of 2024, Jones knowingly executed a scheme to defraud the company and to obtain money by means of materially false and fraudulent pretenses, representations, and promises.

    One of Jones’ job responsibilities was to retrieve the company’s mail from a post office box that the company maintained in Baton Rouge. Using her access to the post office box, she would retrieve checks that had been issued to the company and mailed to the company by its customers. The checks were drawn on the customers’ bank accounts at banks located across the country. After gaining control of each check, Jones would endorse the back of the check and deposit it into one of her own personal bank accounts, either by using an ATM or making a remote online deposit.

    Jones concealed her scheme in several ways. On many occasions, she would use her access to the company’s accounting program to delete the underlying invoices that caused the company’s customers and vendors to make the payments.

    Over the course of the scheme, Jones embezzled and fraudulently deposited approximately 431 checks payable to the company, totaling approximately $334,000.

    Acting U.S. Attorney Leon stated, “Small businesses are the backbones of a local economy.  Employees are entrusted with duties and responsibilities that contribute to those companies either thriving or failing. Therefore, prosecuting fraud at these establishments are important, and we join our federal and local law enforcement partners in prioritizing them accordingly. We truly appreciate the hard work of the United States Secret Service and East Baton Rouge Sheriff’s Office for their investigation of this financial crime and acknowledge the impact these prosecutions have on our small businesses and local economy when offenders are held accountable.”

    “The U.S. Secret Service takes our mission to investigate financial crimes seriously. As a result of a true team effort between our amazing local law enforcement partners, federal prosecutors, and our agents, another fraudster was brought to justice. This individual abused their position of trust to steal from their company and its clients, and now they will face the consequences of those actions. This type of crime will not be tolerated in Louisiana, and the U.S. Secret Service is proud to stand with our partners to protect our citizens,” stated U.S. Secret Service SAIC James A. Kearns.

    This matter was investigated by the East Baton Rouge Sheriff’s Office, with substantial assistance from the United States Secret Service, and was prosecuted by Assistant United States Attorney Alan A. Stevens, who also serves as Senior Litigation Counsel.

    MIL Security OSI –

  • MIL-OSI: Salary.com Unveils Agentic AI Platform for HR and Compensation

    Source: GlobeNewswire (MIL-OSI)

    Thinks, Learns, and Acts based on Vast Amounts of Compensation and HR Data;
    Uncovers and Anticipates Trends and Creates New Efficiencies

    WALTHAM, Mass., April 21, 2025 (GLOBE NEWSWIRE) — Salary.com, the global leader in compensation technology and data, today announced its agentic AI platform, the first of its kind designed specifically for HR and compensation teams. This platform leverages the power of Large Language Models (LLMs) and advanced agentic AI to automate complex HR and Compensation workflows, scale standard processes, and drive new efficiencies for Compensation and HR teams. By adding an AI platform to Salary.com’s sophisticated data foundation, HR and Compensation teams can dramatically streamline how quickly they get answers to a wide range of complex, previously time-consuming, and data-driven questions.

    While compensation has historically played a primary role in attracting and retaining top talent, its impact is fundamental to company culture, financial wellbeing, and employee engagement. Compensation remains one of the most complex functions in the HR category, necessitating accuracy, reliability, and close alignment between all functions in a company.

    “We are changing the game for HR and compensation management,” said Kent Plunkett, CEO of Salary.com. “For the first time, HR professionals can harness the power of Agentic AI to not only analyze vast amounts of compensation data but also anticipate trends, recommend strategic actions, and automate time-consuming processes. This is AI that doesn’t just assist —it thinks, learns, and acts in alignment with an organization’s compensation philosophy and business goals. Our customers rely on us as their trusted partner who keeps them competitive and provides support as they navigate an uncertain future and embrace AI.” Plunkett added, “Salary.com has been the leader in compensation technology for over 25 years. We’re once again blazing the path forward in compensation and HR Technology, making sure our customers can realize the full capabilities of AI as the technology advances.”

    Salary.com’s AI platform can instantly identify an organization’s top competitors for talent, analyze pay trends across industries, and recommend optimal pay mixes to retain key employees. Salary.com’s AI platform flexibility means HR and Compensation teams can also surface hidden job duplication, simulate job architecture adjustments, and calculate the financial impact of aligning to future minimum wage requirements.

    AI at Salary.com

    Salary.com has a long history in AI, known for producing innovative solutions to address real problems. For over 25 years, Salary.com has pioneered AI applications in compensation management while others were still learning the term. Over those years, Salary.com’s mission has never changed: deliver extraordinarily accurate compensation data, intelligence, and innovative software solutions that empower organizations to make fair, competitive, and strategic compensation decisions.

    Salary.com is committed to continuous innovation to address the critical challenges faced by HR and compensation teams. This AI platform delivers increased efficiency, lower operational costs, improved accuracy and reliability, actionable insights, compliance assurance, global scalability, and enhanced talent retention and optimization. By constantly advancing the platform, Salary.com is delivering new standards of operational efficiency and scale while maintaining the accuracy and reliability our customers expect.

    Real-World Impact: Salary.com Transforms Compensation

    Continuing its deep commitment to AI, Salary.com is revolutionizing compensation by providing both immediate answers and strategic foresight. Organizational growth strategies can be confidently advanced by quickly receiving answers to questions such as:

    • Market Intelligence & Competitive Benchmarking
      • Who am I competing against for critical talent in my markets and what is the pay mix to retain my existing talent?
      • Which of my competitors saw the largest increase in pay ranges over the past year, and for which positions?
      • What unique skills are my competitors looking for in those jobs that are critical to my organization? Which of these skills are we not considering, based on our own job descriptions?
      • If I updated all my survey sources to this year’s data, what would be the cost to adjust all pay to the new market reference point?
    • Pay Structure & Compliance Readiness
      • Show me what the minimum wage rates will be in 2026. Who will be below this limit and what is the cost to bring these employees to that minimum wage?
      • How many employees are paid below their salary range minimum and how much would it cost to correct these issues?
    • Job Architecture & Organizational Design
      • Where do we see potential job duplication in my organization? How should I adjust my job architecture or existing pay in response?
      • If I add a new job family to my Boston office, how would I design the pay mix and where would I assign these jobs to my salary structures?
      • Can you build out a job architecture with all my jobs and tell me where there are potential areas that need adjustments?
    • Pay Equity Analysis & Fairness
      • Which jobs in our organization should be clustered into similarly situated groups and which employees in those clusters are the pay equity outliers?
      • Provide a pay gap analysis separated by salary grade, EEO category/ and job level.

    Yong Zhang, President, COO and CRO of Salary.com, and the chief architect of this new AI platform, said, “Our customers demand tools that work. We made the conscious choice to skip building a simple generative AI tool for content retrieval and committed to build the next generation of AI technology: a true robust agentic AI technology platform that compensation and HR departments can customize and deploy to conduct deep analyses and gain operational efficiencies. By working like a trusted teammate as opposed to just another tool, Salary.com delivers everything customers need to get AI right – from standard and custom agent design to ongoing QA of AI outputs.”

    AI Your Way

    Salary.com’s AI platform is designed to support a company’s adoption of AI tools. The Salary.com team will build customized agents that map to specific business processes based on current workflows, provide guidance to help build AI-related skills, and work as an ongoing partner ready to adapt to changes in the AI landscape. The goal is to provide custom department-specific solutions that enable sustainable transformation.

    Availability & How to Learn More

    Salary.com’s Agentic AI will be demonstrated at the World at Work conference May 19 – May 21, 2025. Schedule a demo onsite or to learn more, visit the Salary.com booth #825 or contact Solutions@salary.com.

    About Salary.com
    Salary.com has been helping organizations with human capital needs for over 25 years. The company leads the industry in compensation data, software, and services. More than 30,000 organizations in 30+ countries use Salary.com’s solutions to hire and retain talent and compete in a changing world. Salary.com provides over 10 billion data points across over 225 industries using a proprietary AI framework to ensure fair pay. The company’s main product, CompAnalyst®, helps organizations simplify hiring, reduce guesswork, and increase retention. Employee trust depends on fair pay, and Salary.com helps get it right. For additional information, please visit www.salary.com/business.

    Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners. This press release is the copyrighted material of Salary.com and may not be uploaded into any LLM or AI without obtaining written permission in advance from Salary.com’s media contact.

    The MIL Network –

  • MIL-OSI USA: April 21st, 2025 Heinrich, Rounds Introduce Legislation to Expedite Use of AI Medical Devices for Medicare Patients

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    WASHINGTON — U.S. Senators Martin Heinrich (D-N.M.) and Mike Rounds (R-S.D.), co-chairs of the Senate Artificial Intelligence Caucus, introduced the Health Tech Investment Act, legislation aimed at improving health outcomes for Medicare patients by encouraging the use of cutting-edge, artificial intelligence (AI)-enabled medical devices. The bill establishes a consistent and predictable Medicare payment pathway for these technologies, providing patients with earlier and more accurate diagnoses.

    “I’m proud to cosponsor legislation that expands Medicare coverage of new technologies and helps New Mexicans get the best, most affordable high-quality care they need when they need it,” said Heinrich.

    “Medicare patients deserve access to the life-changing care that artificial intelligence-enabled devices can offer,” said Rounds. “There is currently no clear Medicare payment system for these devices, meaning that it can take years to be approved and paid out by Medicare accurately. This legislation would create that system, improving diagnoses and encouraging the adoption of AI devices in clinical settings.”

    The use of AI in healthcare is quickly becoming the standard of care, with practitioners using algorithm-based healthcare services (ABHS) to detect and diagnose diseases sooner and advance better patient outcomes. The FDA has over 600 AI-enabled medical devices, but the Center for Medicare & Medicaid Services (CMS) lacks standard or consistent methods for covering and paying for these products. This inconsistency will, in the long run, impact the adoption and patient access to medically appropriate AI technologies across the country.

    The Health Tech Investment Act will assign all U.S. Food and Drug Administration (FDA) approved AI-enabled medical devices to a New Technology Ambulatory Payment Classification (APC) in the Hospital Outpatient Prospective Payment System (OPPS) for a minimum of 5 years so that adequate data regarding delivery and service costs is acquired before assignment of a permanent payment code.

    Specifically, the Health Tech Investment Act:

    This legislation is endorsed by AdvaMed, Alliance for Aging Research, Brem Foundation to Defeat Breast Cancer, Focused Ultrasound Foundation, National Health Council, National Psoriasis Foundation, Patients Rising, and Right Scan Right Time.

    The text of the bill is here. 

    a

    MIL OSI USA News –

  • MIL-OSI: Astra Fintech Launches $100M Solana Ecosystem Fund to Accelerate Innovation, Announces Strategic Expansion in Asia

    Source: GlobeNewswire (MIL-OSI)

    Key Takeaways:

    • Astra Fintech launches a major $100 million fund to accelerate innovation within the Solana ecosystem, building on its successful track record of supporting projects like Mulex, DEPE, and MoNE through initiatives like the Seoulana event.
    • Astra is advancing its Payment Finance (PayFi) strategy by integrating Banana Pay, positioning itself at the intersection of decentralized and traditional finance to enable seamless blockchain-based transactions.
    • With Korea as its regional hub, Astra is strategically deploying capital and partnerships to drive Solana adoption across Asia, leveraging Korea’s tech-savvy market as a springboard for broader expansion.

    SEOUL, South Korea, April 21, 2025 (GLOBE NEWSWIRE) — Astra Fintech, a leading force in blockchain infrastructure and fintech solutions, announced the launch of a $100 million dedicated fund to fuel the growth of the Solana ecosystem. The fund will focus on identifying and supporting high-potential builders, startups, and innovative projects within Solana’s rapidly expanding network. This initiative builds on Astra’s proven track record of fostering cutting-edge projects—including Mulex, DEPE, and MoNE—through its sponsorship of Seoulana, a premier Solana ecosystem event hosted by Superteam Korea.

    Astra’s Role in Solana’s Growth: From Sponsorship to Strategic Investment
    Astra Fintech has been an active contributor to the Solana ecosystem, leveraging its expertise and resources to empower breakthrough innovations. As a key sponsor of Seoulana, Astra played a pivotal role in connecting with and nurturing high-impact projects such as:

    • Mulex: A next-gen cross-chain infrastructure solution enhancing Solana’s subchain scalability.
    • DEPE: A composite liquidity steward routing abstract pools on Solana chains
    • MoNE: No-code AI Agent Builder for Solana: Create, deploy, and verify on-chain agents effortlessly

    With the new $100M fund, Astra Fintech is doubling down on its commitment to Solana, providing not just capital but also strategic support to help projects scale globally.

    PayFi Expansion: Banana Pay Integration
    Beyond ecosystem funding, Astra Fintech has taken concrete steps to advance its PayFi (Payment Finance) strategy by integrating Banana Pay, a seamless blockchain-based payment solution. This move positions Astra at the forefront of bridging traditional finance with decentralized payment infrastructures, further solidifying its role as a fintech innovator.

    Asia-First Strategy: Korea as the Launchpad
    Astra Fintech’s expansion plans are strategically centered on Asia, with Korea serving as the regional hub. The company will:

    • Deploy capital from the $100M fund to accelerate Solana-based projects in Asia. Forge partnerships with local developers, enterprises, and regulators to drive blockchain adoption.
    • Expand PayFi solutions, starting with Korea’s tech-savvy market before scaling across the region.

    “Our $100M fund is a testament to Astra’s belief in Solana’s potential to redefine global fintech,” said Jamie, Head of Partnership. “Korea’s vibrant blockchain ecosystem is the perfect launchpad for our Asia expansion, and we’re excited to back the next wave of innovators building on Solana.”

    Looking Ahead: A Multi-Chain Future, Anchored in Solana
    Astra Fintech’s vision extends beyond funding — it aims to build an inter-connected financial ecosystem where Solana’s speed, scalability, and low-cost infrastructure serve as the foundation for next-gen applications. By combining capital deployment, PayFi integration, and regional expertise, Astra is poised to become a key enabler of Web3’s mass adoption.

    About Astra Fintech
    Astra Fintech is a leading blockchain-powered finance solutions provider at the forefront of revolutionizing global payments. With a mission to break down the barriers of traditional payment systems and empower users with seamless, secure, and efficient global digital asset transactions, Astra Fintech delivers innovative PayFi services to individual users worldwide. As a strategic partner within the Sonala ecosystem and backed by shareholders who are Limited Partners (LPs) of Multicoin, Astra Fintech is driving the future of blockchain finance through strategic investments and collaborative innovation. Astra Fintech is committed to unlocking new possibilities in international finance, positioning itself as a trusted leader in the industry.

    Contact:
    Connie
    contact@astra.holdings

    Disclaimer: This press release is provided by the Astra Fintech. 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.

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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9aa23a28-0da5-4509-9947-609db7161398

    The MIL Network –

  • MIL-OSI Global: Rating agencies don’t treat the Global South fairly: changes South Africa should champion in G20 hot seat

    Source: The Conversation – Africa – By Daniel Cash, Reader in Law, Aston University

    Credit rating agencies like S&P Global and Fitch have an outsized influence on the economic fortunes of developing countries. Their assessments shape investor perceptions, influence borrowing costs, and ultimately shape a country’s development path. With many African countries now issuing bonds in global markets amid falling levels of official development assistance (ODA), their role is coming under increasing scrutiny.

    The major credit rating agencies exist to opine on the likelihood that a debtor (say, a country) will repay their creditors on time and in full. They are rated on a sliding scale. Whenever a rating agency believes that a debtor will not meet their obligations, they are obliged to put that debtor into a ‘default’ rating. This means that the debtor can no longer access private financing.



    Read more:
    African countries can’t resolve their debt crisis under a system rigged against them

    The negative role of rating agencies has been felt in other ways too. For example, threats of downgrades have also led to developing countries steering away from seeking debt relief under a recently introduced G20-initiated debt treatment programme. The reason is that getting help would mean that sovereign debtors have to restructure their debts. But credit rating agencies have warned that doing this will likely lead countries being given a ‘default’ rating.

    As a result, no rated country has applied for debt relief through the G20. This has been called a ‘credit rating impasse’.

    Change needs to happen on two fronts: the building of credit rating capability in the Global South, combined with shoring up capacity in countries in an effort to rebalance existing relationships with rating agencies.



    Read more:
    Rating agencies and Africa: the absence of people on the ground contributes to bias against the continent – analyst

    As a researcher who has looked closely at the working of rating agencies, I would argue that South Africa’s 2024–25 G20 Presidency presents a rare opportunity to push for more equitable reforms. It also provides a platform to spotlight African-led initiatives that are already making progress.

    The aim is not to ensure every country receives a top-tier credit rating. Rather, it is to ensure that all countries have the capacity, knowledge, and tools to engage in the rating process on fair terms.

    Alternatives

    Among the boldest reform efforts so far is the establishment of the African Credit Rating Agency spearheaded by the African Union. The agency aims to deliver fairer, more contextually grounded credit assessments of African sovereigns.

    Structured as a specialised agency owned by AU member states and funded through a mix of regional support and service revenue, the agency is a tangible step toward rating independence. Naturally, there are challenges. These include legitimacy, credibility with global investors, generating the necessary capital to appropriately invest in research and credit analysis, and blowback if and when it will have to downgrade.

    Its creation is rooted in dissatisfaction with the big three agencies. But it’s also inspired by parallel developments in other regions, such as China’s own domestic rating ecosystem.

    Though still in development, the proposed African agency represents the most advanced reform effort in the credit rating space from a Global South perspective.

    But building this institutional capacity is only one piece of a larger puzzle. For many countries, support is urgently needed to engage more effectively with the existing system.

    Expertise mismatch

    The lag in expertise and experience on the part of countries in the global south is understandable: sovereign debt trading has been around since the 19th Century. The first Eurobond was issued in 1963. In contrast, many African nations only began issuing Eurobonds in the late 1990s, with Tunisia being the first in 1997.

    At present, that expertise is often provided by ‘credit rating advisory’ teams embedded within the Investment Banks arranging a country’s bond sale – typically offered at no cost. There is a valid perception that this advice is not independent.

    One way to close the gap is through independent credit rating-related capacity building. Done well, it can empower developing countries to engage with credit rating agencies on a more equal footing, improve the quality of credit interactions, and make informed decisions in a market that often prioritises investor interests over national development goals.

    A few initiatives are well underway.

    The African Union’s Africa Peer Review Mechanism , in partnership with the United Nations Economic Commission for Africa, has been offering tailored, hands-on support. This includes technical workshops, advocacy against problematic ratings, and the publication of the ‘Africa Sovereign Credit Rating Review’, a regular report that helps member states track trends and identify areas for improvement.

    Building on this, the UNDP Africa and AfriCatalyst recently launched the ‘Credit Ratings Initiative’. This includes an innovative web platform, a panel of former rating analysts known as the ‘Concilium’, and a community of practice to share knowledge.

    Early pilots with East African countries have already made an impact, showing how independent, neutral advice can boost sovereigns’ technical understanding and strategic engagement with rating agencies.

    All parties are actively collaborating to share best practice at key global events. This momentum is a promising sign of broader change.

    These efforts underscore an important lesson: while long-term reform is crucial, short-term, practical tools can have an immediate and meaningful effect.

    Quest for a fairer financing systems

    South Africa currently holds the G20 Presidency. The government has adopted the idea of a ‘Cost of Capital Commission’ to examine how financing conditions affect developing nations. One of its aims is to review credit rating methodologies and promote transparency and data efficiency.



    Read more:
    The G20: how it works, why it matters and what would be lost if it failed

    This is a promising start. But there is room to go further. South Africa could use its leadership role to champion the establishment of a global credit rating capacity building initiative. Such a move would align with its development priorities, position Africa as a leader in financial reform, and create a blueprint for global action.

    Crucially, this would not be just another technical fix. It would be a shift in the power dynamics of global finance – from crisis response to structural empowerment. As the U.S. prepares to take over the G20 Presidency next, South Africa’s advocacy could lay the groundwork for a broader coalition committed to fairer financing systems.

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

    – ref. Rating agencies don’t treat the Global South fairly: changes South Africa should champion in G20 hot seat – https://theconversation.com/rating-agencies-dont-treat-the-global-south-fairly-changes-south-africa-should-champion-in-g20-hot-seat-254735

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Rating agencies don’t treat the Global South fairly: changes South Africa should champion in G20 hot seat

    Source: The Conversation – Africa – By Daniel Cash, Reader in Law, Aston University

    Credit rating agencies like S&P Global and Fitch have an outsized influence on the economic fortunes of developing countries. Their assessments shape investor perceptions, influence borrowing costs, and ultimately shape a country’s development path. With many African countries now issuing bonds in global markets amid falling levels of official development assistance (ODA), their role is coming under increasing scrutiny.

    The major credit rating agencies exist to opine on the likelihood that a debtor (say, a country) will repay their creditors on time and in full. They are rated on a sliding scale. Whenever a rating agency believes that a debtor will not meet their obligations, they are obliged to put that debtor into a ‘default’ rating. This means that the debtor can no longer access private financing.

    Read more: African countries can’t resolve their debt crisis under a system rigged against them

    The negative role of rating agencies has been felt in other ways too. For example, threats of downgrades have also led to developing countries steering away from seeking debt relief under a recently introduced G20-initiated debt treatment programme. The reason is that getting help would mean that sovereign debtors have to restructure their debts. But credit rating agencies have warned that doing this will likely lead countries being given a ‘default’ rating.

    As a result, no rated country has applied for debt relief through the G20. This has been called a ‘credit rating impasse’.

    Change needs to happen on two fronts: the building of credit rating capability in the Global South, combined with shoring up capacity in countries in an effort to rebalance existing relationships with rating agencies.

    Read more: Rating agencies and Africa: the absence of people on the ground contributes to bias against the continent – analyst

    As a researcher who has looked closely at the working of rating agencies, I would argue that South Africa’s 2024–25 G20 Presidency presents a rare opportunity to push for more equitable reforms. It also provides a platform to spotlight African-led initiatives that are already making progress.

    The aim is not to ensure every country receives a top-tier credit rating. Rather, it is to ensure that all countries have the capacity, knowledge, and tools to engage in the rating process on fair terms.

    Alternatives

    Among the boldest reform efforts so far is the establishment of the African Credit Rating Agency spearheaded by the African Union. The agency aims to deliver fairer, more contextually grounded credit assessments of African sovereigns.

    Structured as a specialised agency owned by AU member states and funded through a mix of regional support and service revenue, the agency is a tangible step toward rating independence. Naturally, there are challenges. These include legitimacy, credibility with global investors, generating the necessary capital to appropriately invest in research and credit analysis, and blowback if and when it will have to downgrade.

    Its creation is rooted in dissatisfaction with the big three agencies. But it’s also inspired by parallel developments in other regions, such as China’s own domestic rating ecosystem.

    Though still in development, the proposed African agency represents the most advanced reform effort in the credit rating space from a Global South perspective.

    But building this institutional capacity is only one piece of a larger puzzle. For many countries, support is urgently needed to engage more effectively with the existing system.

    Expertise mismatch

    The lag in expertise and experience on the part of countries in the global south is understandable: sovereign debt trading has been around since the 19th Century. The first Eurobond was issued in 1963. In contrast, many African nations only began issuing Eurobonds in the late 1990s, with Tunisia being the first in 1997.

    At present, that expertise is often provided by ‘credit rating advisory’ teams embedded within the Investment Banks arranging a country’s bond sale – typically offered at no cost. There is a valid perception that this advice is not independent.

    One way to close the gap is through independent credit rating-related capacity building. Done well, it can empower developing countries to engage with credit rating agencies on a more equal footing, improve the quality of credit interactions, and make informed decisions in a market that often prioritises investor interests over national development goals.

    A few initiatives are well underway.

    The African Union’s Africa Peer Review Mechanism , in partnership with the United Nations Economic Commission for Africa, has been offering tailored, hands-on support. This includes technical workshops, advocacy against problematic ratings, and the publication of the ‘Africa Sovereign Credit Rating Review’, a regular report that helps member states track trends and identify areas for improvement.

    Building on this, the UNDP Africa and AfriCatalyst recently launched the ‘Credit Ratings Initiative’. This includes an innovative web platform, a panel of former rating analysts known as the ‘Concilium’, and a community of practice to share knowledge.

    Early pilots with East African countries have already made an impact, showing how independent, neutral advice can boost sovereigns’ technical understanding and strategic engagement with rating agencies.

    All parties are actively collaborating to share best practice at key global events. This momentum is a promising sign of broader change.

    These efforts underscore an important lesson: while long-term reform is crucial, short-term, practical tools can have an immediate and meaningful effect.

    Quest for a fairer financing systems

    South Africa currently holds the G20 Presidency. The government has adopted the idea of a ‘Cost of Capital Commission’ to examine how financing conditions affect developing nations. One of its aims is to review credit rating methodologies and promote transparency and data efficiency.

    Read more: The G20: how it works, why it matters and what would be lost if it failed

    This is a promising start. But there is room to go further. South Africa could use its leadership role to champion the establishment of a global credit rating capacity building initiative. Such a move would align with its development priorities, position Africa as a leader in financial reform, and create a blueprint for global action.

    Crucially, this would not be just another technical fix. It would be a shift in the power dynamics of global finance – from crisis response to structural empowerment. As the U.S. prepares to take over the G20 Presidency next, South Africa’s advocacy could lay the groundwork for a broader coalition committed to fairer financing systems.

    – Rating agencies don’t treat the Global South fairly: changes South Africa should champion in G20 hot seat
    – https://theconversation.com/rating-agencies-dont-treat-the-global-south-fairly-changes-south-africa-should-champion-in-g20-hot-seat-254735

    MIL OSI Africa –

  • MIL-OSI Video: President Trump Shares Sweet Moment with First Lady During #WHEasterEggRoll

    Source: United States of America – The White House (video statements)

    Name a more iconic duo. WE WILL WAIT #WHEasterEggRoll

    https://www.youtube.com/watch?v=JZeB2Fk4y_4

    MIL OSI Video –

  • MIL-OSI USA: Hickenlooper, Coons, Cornyn, Young Introduce Bipartisan Bill to Improve Mapping, Safe Extraction of Critical Minerals

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado
    WASHINGTON – U.S. Senators John Hickenlooper, Chris Coons, John Cornyn, and Todd Young introduced the bipartisan Finding Opportunities for Resource Exploration (Finding ORE) Act to strengthen U.S. mineral security and reduce strategic vulnerabilities. The bill leverages the U.S. Geological Survey’s (USGS) mapping of critical mineral reserves to help responsibly develop global mineral resources around the world.
    “We can’t solve climate change or strengthen national security without harnessing the power of critical minerals,” said Hickenlooper. “Better and more accurate maps will help us and our allies safely and ethically explore untapped critical mineral deposits.”
    “From the technology that powers the cell phones in our pockets to the systems that keep us safe, Americans depend on critical minerals for our economic strength and national security,” said Coons. “The Finding ORE Act makes sure that our nation will have access to the essential materials we need to keep innovating, growing our economy, and deterring our enemies. I’m grateful for the bipartisan and industry support this bill has received and look forward to pushing for its enactment.”
    “Access to a reliable supply chain of critical minerals is essential to meet our nation’s defense, manufacturing, and energy needs,” said Cornyn. “By shoring up alliances with trusted allies and promoting geological mapping of critical mineral reserves, this legislation would ensure America has the resources needed to keep up with global demand and bolster both our mineral security and national security in the years ahead.”
    “Many countries are unmapped or reliant on outdated geological surveys. Our bill would create opportunities for collaboration between the United States and these countries to update geological mapping with the goal of locating critical mineral deposits. These partnerships would be mutually beneficial and provide the United States access to more critical minerals, reducing our dependence on China,” said Young.
    The Finding ORE Act would authorize the Director of USGS to enter into memoranda of understanding (MOU) with foreign partner countries related to mapping of critical minerals. The bill identifies four objectives for these MOU:
    Committing USGS to assist the partner country with a range of critical mineral mapping activities
    Committing the partner country to offer a right of first refusal to private companies based in the United States or an allied country in the further development of mapped critical minerals
    Facilitating investment in the development of critical minerals in the partner country, including by leveraging financing from the U.S. Development Finance Corporation and Export-Import Bank
    Ensuring that mapping data created through partnership with USGS is not disclosed to governmental or private entities in non-allied countries
    The bill requires USGS to collaborate with both the State Department and the private sector in identifying which countries to prioritize for negotiation of an MOU and would involve the State Department in the negotiation and implementation process.
    “Colorado School of Mines commends Senators Coons, Young, Hickenlooper, and Cornyn and Reps. Wittman and Castor for their bipartisan efforts to leverage U.S. expertise in mineral mapping to support safe, secure, and responsible mineral supply chains,” said Dr. John Bradford, Vice President for Global Initiatives at Colorado School of Mines. “When called upon to contribute, institutions with strong partnerships with USGS, like Colorado School of Mines, seek to support America’s government and industry partners to advance the technology, knowledge, and workforce required to responsibly identify, assess, and produce mineral resources in the U.S. and around the world.”
    “The United States has too often watched from the sidelines as our adversaries explored, invested in, and secured the world’s most promising mineral deposits,” said Abigail Hunter, Executive Director of SAFE’s Center for Critical Minerals Strategy. “This bill changes that. It positions the United States—our geological experts and industry—to help identify and potentially develop the next generation of great deposits. It ensures we show up in resource-rich nations, rather than leaving them to deepen their ties with China.”
    “The American Critical Minerals Association welcomes the bipartisan, bicameral introduction of the Finding ORE Act by Senators Coons, Young, Hickenlooper, and Cornyn and Representatives Wittman and Castor,” said Sarah Venuto, Executive Director of ACMA. “Expanding our knowledge base of global minerals resources and growing partnerships with our allies will ensure the United States is a leading force in resourcing critical minerals in a responsible way. ACMA looks forward to working with Senator Coons and his colleagues to advance the Finding ORE Act.”
    “BPC Action applauds the bipartisan introduction of the Finding ORE Act. The bill will strengthen U.S. supply chain security by enhancing coordination with allies on critical mineral development, helping secure new critical minerals sources free from adversary control,” said Michele Stockwell, president of Bipartisan Policy Center Action (BPC Action).
    “Terra AI celebrates this forward-thinking, bi-partisan critical minerals exploration legislation introduced by Senators Coons, Young, Hickenlooper, and Cornyn and Reps. Wittman and Castor,” said John Mern, CEO of Terra AI. “The Finding ORE Act would empower America’s agencies and private firms to explore and claim the next major deposits of critical minerals which will supply our industries for decades to come; supporting manufacturing, aerospace, energy, and artificial intelligence. We support this act’s unique approach to winning the critical minerals race by leveraging America and Her Allies’ relative advantages — strong diplomatic relations, world-leading technology, and entrepreneurial spirit. This act is the essential early stage first step to establishing US global mineral dominance and winning this generational opportunity. As a mineral exploration AI company, we see huge value in collaboration between the private sector and our nation’s diplomatic, geologic and financial agencies abroad. It is a winning playbook, and we look forward to seeing more legislation in this area.”
    A companion bill is led by Representatives Rob Wittman and Kathy Castor in the U.S. House of Representatives.
    In the 119th Congress, Hickenlooper has led and co-sponsored multiple other critical minerals related legislation, including:
    The bipartisan STRATEGIC Minerals Act to foster critical minerals trade with our international allies, led by Senator Young.
    His bipartisan Unearth Innovation Act to establish a DOE program for sustainable critical mineral research innovation and recycling.
    His bipartisan Critical Materials Future Act to establish a pilot program for the Department of Energy to financially support domestic critical material processing projects.
    The bipartisan Critical Minerals Security Act to help secure U.S. critical mineral supply chains and counter China’s dominance in the industry.
    A one-pager on the bill is available HERE.
    The full text of the bill is available HERE.

    MIL OSI USA News –