Category: Asia

MIL-OSI Economics: Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference

Source: ASEAN

At the invitation of the Government of the People’s Republic of China, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will undertake a visit to the People’s Republic of China and take part in the 2025 World AI Conference, from 23 to 26 July 2025.

During his stay in Beijing and Shanghai, SG Dr. Kao will have several key engagements, including a bilateral meeting with H.E. Wang Yi, Minister of Foreign Affairs of the People’s Republic of China, as well as meeting with other senior government officials and private sectors such as Asian Infrastructure Investment Bank (AIIB) and Shanghai Cooperation Organisation (SCO), among others.

SG Dr. Kao will also take the opportunity to meet with the ASEAN Committee in Beijing (ACB) and to speak at the Opening Ceremony of the 2025 World Artificial Intelligence Conference as well as at the High-Level Meeting on Global AI Governance. His participation reflects ASEAN’s continued commitment to advancing the ASEAN-China Comprehensive Strategic Partnership and to delivering this year’s priorities, particularly in deepening digital collaboration in the fields of artificial intelligence and emerging technologies.
The post Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference appeared first on ASEAN Main Portal.

MIL OSI Economics –

MIL-OSI Economics: Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference

Source: ASEAN

At the invitation of the Government of the People’s Republic of China, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will undertake a visit to the People’s Republic of China and take part in the 2025 World AI Conference, from 23 to 26 July 2025.

During his stay in Beijing and Shanghai, SG Dr. Kao will have several key engagements, including a bilateral meeting with H.E. Wang Yi, Minister of Foreign Affairs of the People’s Republic of China, as well as meeting with other senior government officials and private sectors such as Asian Infrastructure Investment Bank (AIIB) and Shanghai Cooperation Organisation (SCO), among others.

SG Dr. Kao will also take the opportunity to meet with the ASEAN Committee in Beijing (ACB) and to speak at the Opening Ceremony of the 2025 World Artificial Intelligence Conference as well as at the High-Level Meeting on Global AI Governance. His participation reflects ASEAN’s continued commitment to advancing the ASEAN-China Comprehensive Strategic Partnership and to delivering this year’s priorities, particularly in deepening digital collaboration in the fields of artificial intelligence and emerging technologies.
The post Secretary-General of ASEAN to pay a visit to the People’s Republic of China and to attend 2025 World AI Conference appeared first on ASEAN Main Portal.

MIL OSI Economics –

MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 22, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on July 22, 2025.

New study finds the gender earnings gap could be halved if we reined in the long hours often worked by men
Source: The Conversation (Au and NZ) – By Lyndall Strazdins, Professor, Australian National University asylun/Shutterstock There are lots of reasons why people work extra hours. In some jobs, it’s the only way to cover the workload. In others, the pay is poor, so people need to work extra time. And in others still, working back

Sky TV to buy channel Three owner Discovery NZ for $1
By Anan Zaki, RNZ News business reporter Sky TV has agreed to fully acquire TV3 owner Discovery New Zealand for $1. Discovery NZ is a part of US media giant Warner Bros Discovery, and operates channel Three and online streaming platform ThreeNow. NZX-listed Sky said the deal would be completed on a cash-free, debt-free basis,

Suffering in Gaza reaches ‘new depths’ – Australia condemns ‘inhumane killing’ of Palestinians
Source: The Conversation (Au and NZ) – By Amra Lee, PhD candidate in Protection of Civilians, Australian National University Australia has joined 28 international partners in calling for an immediate end to the war in Gaza and a lifting of all restrictions on food and medical supplies. Foreign Minister Penny Wong, along with counterparts from

As female independent MPs descend on parliament, they’re fulfilling the dreams of women across history
Source: The Conversation (Au and NZ) – By Elizabeth Chappell, Post Doctoral Research, University of New England Australia’s 48th parliament has a record 112 women members. Ten of those women are independents. As they take their seats in the chamber, they’ll be realising the aspirations of some of Australia’s first suffragists who, more than a

Are screenwriters paid for a product or a service? The definition matters for their workplace rights
Source: The Conversation (Au and NZ) – By Kim Goodwin, Lecturer in Arts Management and Human Resources, The University of Melbourne Vitaly Gariev/Unsplash The film and television sector in Australia employs over 26,000 workers and generated more than A$4.5 billion in income in 2021–22. TV dramas generate a large part of this revenue. Australian screen

NZ and allies condemn ‘inhumane’, ‘horrifying’ killings in Gaza and ‘drip feeding’ of aid
RNZ News New Zealand has joined 24 other countries in calling for an end to the war in Gaza, and criticising what they call the inhumane killing of Palestinians. The countries — including Britain, France, Canada and Australia plus the European Union — also condemed the Israeli government’s aid delivery model in Gaza as “dangerous”.

Everyone’s talking about the Perseid meteor shower – but don’t bother trying to see it in Australia or NZ
Source: The Conversation (Au and NZ) – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland View of the 2023 Perseid meteor shower from the southernmost part of Sequoia National Forest, US. NASA/Preston Dyches In recent days, you may have seen articles claiming the “best meteor shower of the year” is about to start. Unfortunately,

Pumped up with poison: new research shows many anabolic steroids contain toxic metals
Source: The Conversation (Au and NZ) – By Timothy Piatkowski, Lecturer in Psychology, Griffith University MilosStankovic/Getty Images Eighteen-year-old Mark scrolls Instagram late at night, watching videos of fitness influencers showing off muscle gains and lifting the equivalent of a baby elephant off the gym floor. Spurred on by hashtags and usernames indicating these feats involve

How EVs and electric water heaters are turning cities into giant batteries
Source: The Conversation (Au and NZ) – By Bin Lu, Senior Research Fellow in Renewable Energy, Australian National University Leonid Andronov/Shutterstock As the electrification of transport and heating accelerates, many worry the increased demand could overload national power grids. In Australia, electricity consumption is expected to double by 2050. If everyone charges their car and

The end of open-plan classrooms: how school design reflects changing ideas in education
Source: The Conversation (Au and NZ) – By Leon Benade, Professor in the School of Education of Edith Cowan University (ECU), Perth, WA, Edith Cowan University skynesher/Getty Imaged The end of open-plan classrooms in New Zealand, recently announced by Education Minister Erica Stanford, marks yet another swing of the pendulum in school design. Depending on

Could Rupert Murdoch bring down Donald Trump? A court case threatens more than just their relationship
Source: The Conversation (Au and NZ) – By Andrew Dodd, Professor of Journalism, Director of the Centre for Advancing Journalism, The University of Melbourne If Rupert Murdoch becomes a white knight standing up to a rampantly bullying US president, the world has moved into the upside-down. This is, after all, the media mogul whose US

PBS and NPR are generally unbiased, independent of government propaganda and provide key benefits to US democracy
Source: The Conversation (Au and NZ) – By Stephanie A. (Sam) Martin, Frank and Bethine Church Endowed Chair of Public Affairs, Boise State University Congress’ cuts to public broadcasting will diminish the range and volume of the free press and the independent reporting it provides. MicroStockHub-iStock/Getty Images Plus Champions of the almost entirely party-line vote

Africa’s minerals are being bartered for security: why it’s a bad idea
Source: The Conversation (Au and NZ) – By Hanri Mostert, SARChI Chair for Mineral Law in Africa, University of Cape Town A US-brokered peace deal between the Democratic Republic of Congo (DRC) and Rwanda binds the two African nations to a worrying arrangement: one where a country signs away its mineral resources to a superpower

A popular sweetener could be damaging your brain’s defences, says recent study
Source: The Conversation (Au and NZ) – By Havovi Chichger, Professor, Biomedical Science, Anglia Ruskin University Found in everything from protein bars to energy drinks, erythritol has long been considered a safe alternative to sugar. But new research suggests this widely used sweetener may be quietly undermining one of the body’s most crucial protective barriers

Why has a bill to relax NZ foreign investment rules had so little scrutiny?
ANALYSIS: By Jane Kelsey, University of Auckland, Waipapa Taumata Rau While public attention has been focused on the domestic fast-track consenting process for infrastructure and mining, Associate Minister of Finance David Seymour has been pushing through another fast-track process — this time for foreign investment in New Zealand. But it has had almost no public

PSNA calls on NZ to urgently condemn Israeli weaponisation of starvation
Asia Pacific Report The Palestine Solidarity Network Aotearoa has called on the New Zealand government to immediately condemn Israel’s weaponisation of starvation and demand an end to the siege of Gaza. It has also called for a permanent ceasefire and unrestricted humanitarian access to the besieged enclave. “All political parties and elected officials must break

Labor to put disclaimer under Mark Latham’s caucus room picture
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The picture of Mark Latham on the caucus room gallery of Labor leaders will have an annotation under it saying he was expelled for life and his actions do not accord with Labor values. The first meeting of the new

Pacific leaders demand respectful involvement in memorial for unmarked graves
By Mary Afemata, of PMN News and RNZ Pacific Porirua City Council is set to create a memorial for more than 1800 former patients of the local hospital buried in unmarked graves. But Pacific leaders are asking to be “meaningfully involved” in the process, including incorporating prayer, language, and ceremonial practices. More than 50 people

Newspoll and Resolve give Labor big leads as parliament resumes after the election
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne With federal parliament to sit for the first time since the election on Tuesday, Newspoll gives Labor a 57–43 lead and Resolve a 56–44 lead. In Tasmania,

MIL OSI Analysis – EveningReport.nz –

MIL-OSI United Nations: Deadly floods show need for faster, wider warnings, UN agency says

Source: United Nations 2

The UN World Meteorological Organization (WMO) said on Monday that more intense downpours and glacier outburst floods are becoming increasingly frequent, with deadly consequences for communities caught off guard.

“Flash floods are not new, but their frequency and intensity are increasing in many regions due to rapid urbanization, land-use change and a changing climate,” said Stefan Uhlenbrook, WMO Director of Hydrology, Water and Cryosphere.

Each additional degree Celsius of warming enables the air to hold about 7 per cent more water vapour.

“This is increasing the risk of more extreme rainfall events. At the same time, glacier-related flood hazards are increasing due to enhanced ice melting in a warmer climate,” he added.

Thousands of lives lost every year

Floods and flash floods claim thousands of lives each year and cause billions of dollars in damage. In 2020, severe flooding across South Asia killed more than 6,500 people and caused $105 billion in economic losses.

Two years later, catastrophic floods in Pakistan left over 1,700 people dead, 33 million affected and losses exceeding $40 billion, reversing years of development gains.

This year, the onslaught has continued. In July alone, South Asia, East Asia and the United States have seen a string of deadly events, from monsoon rains to glacial lake bursts and sudden flash floods.

Each year, extreme weather and climate events take a massive toll on lives and economies worldwide.

Asia reels from monsoon onslaught

In India and Pakistan, heavy monsoon rains have severed transport links, washed away homes and triggered landslides. Pakistan declared a state of emergency in its worst-hit areas, deploying military helicopters for rescue missions after forecasters warned of exceptional flood risk along the upper Jhelum River.

The Republic of Korea suffered record-breaking downpours between 16-20 July, with rainfall exceeding 115 mm per hour in some locations. At least 18 people were killed and more than 13,000 were evacuated.

In southern China, authorities issued flash flood and landslide alerts on 21 July, just a day after Typhoon Wipha battered Hong Kong, underscoring the compound risks of sequential storms.

Texas flash flood strikes overnight

Overnight 3 into 4 July, a sudden deluge turned Texas Hill Country into a disaster zone, killing more than 100 people and leaving dozens missing. In a few hours, 10-18 inches (25–46 cm) of rain swamped the Guadalupe River basin, sending the river surging 26 feet (8 metres) in just 45 minutes.

1-day precipitation totals from NASA’s IMERG multi-satellite precipitation product show heavy rainfall over central Texas on July 4, 2025.

Many of the victims were young girls at a summer camp, caught unaware as floodwaters tore through sleeping quarters around 4 AM. Although the US National Weather Service issued warnings ahead of time, local sirens were lacking and the final alerts came when most were asleep.

Glacier outburst floods surge

Not all floods this month were caused by rain.

In Nepal’s Rasuwa district, a sudden outburst from a supraglacial lake – formed on a glacier’s surface – swept away hydropower plants, a major bridge and trade routes on 7 July. At least 11 people were killed and more than a dozen are reported missing.

Scientists at the International Centre for Integrated Mountain Development (ICIMOD), a WMO partner, say glacial-origin floods in the Hindu Kush-Himalaya region are occurring far more often than two decades ago, when one might strike every five to 10 years.

In May and June 2025 alone, three glacial outburst floods hit Nepal, Afghanistan and Pakistan, with two more in Nepal on 7 July. If warming continues, the risk of such floods could triple by the century’s end.

Aftermath of a flood that swept through a high-altitude village in Nepal.

Closing the warning gap

The WMO is stepping up efforts to improve flood forecasting through its global initiative and real-time guidance platform, now used in over 70 countries.

The system integrates satellite data, radar and high-resolution weather models to flag threats hours in advance and is being expanded into a country-led, globally interoperable framework.

A 2022 World Bank study estimated that 1.81 billion people – nearly a quarter of the world’s population – are directly exposed to 1-in-100-year flood events, with 89 per cent living in low- and middle-income countries.

The UN’s Early Warnings for All initiative aims to ensure that everyone, everywhere, is protected by early warning systems by 2027.

MIL OSI United Nations News –

MIL-OSI USA: Murray Demands Army Secretary Driscoll Answer for Closure of JBLM Museum

US Senate News:

Source: United States Senator for Washington State Patty Murray

The Army recently announced that 29 museums will be closed or consolidated, including the Lewis Army Museum at JBLM

Washington, D.C. – Today, U.S. Senator Patty Murray, Vice Chair of the Senate Appropriations Committee, sent a letter to U.S. Army Secretary Daniel Driscoll, demanding answers as to why the Lewis Army Museum at Joint Base Lewis McChord (JBLM) will be closed, and shared how important the museum is for celebrating the rich history of military service at JBLM. The Lewis Army Museum is the only certified U.S. Army Museum on the entire West Coast.

The Army recently announced that 29 museums will be closed or consolidated, in order to direct more resources toward “readiness and lethality,” the list includes the Lewis Army Museum at JBLM. The Army Museum Enterprise provided no explanation when it announced it will shrink from 41 museums at 29 locations, to 12 field museums and four training support facilities at 12 locations.

Senator Murray began her letter by detailing the storied history of the soldiers the museum honors, “JBLM is named after Meriwether Lewis of the Lewis and Clark expedition and was established in 1917 to train the 91st ‘Wild West’ Division before deploying to Germany in World War I. Since then, JBLM soldiers have continued to serve bravely in all military conflicts. JBLM is home to Audie Leon Murphy, who earned fame as the most highly decorated American Soldier of World War II , and General John Shalikashvili, who later became the 13th Chairman on the Joint Chiefs of Staff. JBLM is full of rich history that deserves to be celebrated, not brushed to the side.”

“Educating our communities on the Army’s history is key to instilling national pride amongst servicemembers and the general public,” Senator Murray continued. “In fact, Secretary Hegseth has been very vocal about preserving our military’s history for the sake of improving morale. In the dedication of his book, Modern Warriors, Hegseth said ‘the legacy of our warriors is worth of elevation – a reflection of what we should really value.’ By closing the Lewis Army Museum, you are doing the exact opposite by not honoring the incredible sacrifice and service the men and women who have been stationed at JBLM have provided. You have said that ‘telling that story [of the Army] will directly lead to a recruiting boom,’ and there seems to be no better way to continue to tell that story than to continue to keep these important museums open to the public.”

Senator Murray concluded her letter by pushing for answers and emphasizing that JBLM was never consulted or given the opportunity to provide input if this decision was made to cut costs, writing: “According to the U.S. Army Center of Military Housing, the decision was made as a cost-cutting measure so the Army can direct more resources toward ‘readiness and lethality’ and will save $114 million over 10 years. Yet this decision comes at a time when President Trump is requesting a historically high defense budget of $1.01 trillion for fiscal year 2026, a 13.4 percent increase compared to fiscal year 2025. If this decision was made for cost-saving measures, JBLM was never consulted or given the opportunity for input. Colonel Kent Park, the outgoing garrison commander, said he heard of the closure through the media, and the closure was never discussed with him.”

Full text of the letter is available HERE, and below:

The Honorable Daniel Driscoll

Secretary of the Army

1600 Army Pentagon

Washington, DC 20310-1600

July 21, 2025

Dear Secretary Driscoll:

I am writing to express my concern and disappointment regarding the Army’s decision to shut down and consolidate 29 of its 41 military museums across the country, including the Lewis Army Museum, which honors the soldiers of Joint Base Lewis McChord (JBLM) in my home state of Washington. JBLM is named after Meriwether Lewis of the Lewis and Clark expedition and was established in 1917 to train the 91^st “Wild West” Division before deploying to Germany in World War I.Since then, JBLM soldiers have continued to serve bravely in all military conflicts. JBLM is home to Audie Leon Murphy, who earned fame as the most highly decorated American Soldier of World War II, and General John Shalikashvili, who later became the 13^th Chairman on the Joint Chiefs of Staff. JBLM is full of rich history that deserves to be celebrated, not brushed to the side.

In 1973, JBLM established the Lewis Army Museum to honor its soldiers and educate the public on the value of service. Located in the Red Shield Inn, the building was originally built during World War I by the Salvation Army to accommodate soldiers and their families and it was converted into a museum in 1973. Today, the Lewis Army Museum is the only certified U.S. Army Museum on the entire West Coast. It has an extensive display spanning from decorated artillery shells made in the trenches during World War I to pocket guides given to servicemembers before they deployed to Vietnam. It also showcases military vehicles, vintage uniforms, weapons, art, and other memorabilia donated by local veterans in the Puget Sound area.

Educating our communities on the Army’s history is key to instilling national pride amongst servicemembers and the general public. In fact, Secretary Hegseth has been very vocal about preserving our military’s history for the sake of improving morale. In the dedication of his book, Modern Warriors, Hegseth said “the legacy of our warriors is worth of elevation – a reflection of what we should really value.” By closing the Lewis Army Museum, you are doing the exact opposite by not honoring the incredible sacrifice and service the men and women who have been stationed at JBLM have provided. You have said that “telling that story [of the Army] will directly lead to a recruiting boom,” and there seems to be no better way to continue to tell that story than to continue to keep these important museums open to the public.

According to the U.S. Army Center of Military Housing, the decision was made as a cost-cutting measure so the Army can direct more resources toward “readiness and lethality” and will save $114 million over 10 years. Yet this decision comes at a time when President Trump is requesting a historically high defense budget of $1.01 trillion for fiscal year 2026, a 13.4 percent increase compared to fiscal year 2025. If this decision was made for cost-saving measures, JBLM was never consulted or given the opportunity for input. Colonel Kent Park, the outgoing garrison commander, said he heard of the closure through the media, and the closure was never discussed with him.

JBLM’s community is proud of its history and continued service to our nation and our servicemembers. Without an explanation given for this announcement, I request comprehensive answers to the following questions before August 11, 2025:

What is the annual operating cost of the Lewis Army Museum?
What processes and evaluations did the Army undertake to inform the decision to close the Lewis Army Museum?
What is the plan to provide the Army Veterans located on the West Coast with a museum honoring their service to the nation?
Why was the Lewis Army Museum chosen to close and other military museums allowed to remain open?
What do you plan on doing with the artifacts in the Lewis Army Museum? Will the public still be able to see them somewhere after closure?
Was there a public comment period on the planned museum closure decision? If so, what was the timeline and what feedback did the Army receive from the community?
How is the Army planning to use the additional funds to enhance mission readiness and lethality?
Are there specific programs that will absorb the additional funding? If so, which ones?

Thank you for your attention to this important matter, and I look forward to your prompt and thorough response.

MIL-OSI United Nations: ‘Sustainable Development Goals Not Dream, but Plan’, Secretary-General Tells Political Forum

Source: United Nations General Assembly and Security Council

The following are UN Secretary-General António Guterres’ remarks to the ministerial segment of the high-level political forum on sustainable development, in New York today:

This year’s high-level political forum arrives at a time of profound challenge — but also real possibility. Despite enormous headwinds, we have seen just in the last two months what can be achieved when countries come together with conviction and focus.

We saw it in Geneva, where the World Health Assembly adopted the Pandemic Agreement — a vital step toward a safer, more equitable global health architecture. We saw it in Nice at the third UN Ocean Conference, where Governments committed to expand marine protected areas and tackle plastic pollution and illegal fishing.

And we saw it in Sevilla at the fourth International Financing for Development Conference, where countries agreed on a new vision for global finance — one that expands fiscal space, lowers the cost of capital, and ensures developing countries have a stronger voice and participation in the organizations that shape their future.

These are not isolated wins. They are signs of momentum. Signs that multilateralism can deliver. Signs that transformation is not only necessary — it is possible. And that is the spirit we bring to this high-level political forum.

This forum is about renewing our common promise — to end poverty, protect the planet, and ensure prosperity for all. We also recognize the deep linkages between development and peace.

We meet against the backdrop of global conflicts that are pushing the Sustainable Development Goals (SDGs) further out of reach. That’s why we must keep working for peace in the Middle East.

Over the weekend in Gaza, we saw yet more mass shootings and killings of people seeking UN aid for their families — an atrocious and inhumane act which I utterly condemn.

We need an immediate ceasefire in Gaza, the immediate release of all hostages, and unimpeded humanitarian access as a first step to achieve the two-State solution. We need the ceasefire between Iran and Israel to hold. We need a just and lasting peace in Ukraine based on the UN Charter, international law and UN resolutions.

We need an end to the horror and bloodshed in Sudan. And the list goes on, from the Democratic Republic of the Congo to Somalia, from the Sahel to Myanmar.

At every step, we know sustainable peace requires sustainable development. The Sustainable Development Goals are not a dream. They are a plan. A plan to keep our promises — to the most vulnerable people, to each other, and to future generations. People win when we channel our energy into development.

Since 2015, millions more people have access to electricity, clean cooking, and the internet. Social protection now reaches over half the world’s population — up from just a quarter a decade ago. More girls are completing school. Child marriage is declining. Women’s representation is growing — from the boardrooms of business to the halls of political power.

But we must face a tough reality: Only 35 per cent of SDG targets are on track or making moderate progress. Nearly half are moving too slowly. And 18 per cent are going backwards.

Meanwhile, the global economy is slowing. Trade tensions are rising. Inequalities are growing. Aid budgets are being decimated while military spending soars. And mistrust, division and outright conflicts are placing the international problem-solving system under unprecedented strain. We cannot sugarcoat these facts. But we must not surrender to them either.

The SDGs are still within reach — if we act with urgency and ambition. This year’s forum focuses on five critical Goals: health, gender equality, decent work, life below water, and global partnerships. All are essential. All are interconnected. All can spur change across other goals.

On health, COVID-19 exposed and deepened inequalities — and today, far too many people still lack access to basic care. We know what works. We must boost investment in universal health coverage, rooted in strong primary care and prevention, reaching those furthest behind first.

On gender equality, gaps remain wide. Women and girls face systemic barriers — from violence and discrimination to unpaid care and limited political voice.

But we also see growing momentum: from grassroots movements to national reforms. Now is the time to turn that momentum into transformation — with rights-based policies, accountability, and real financing into programmes that support inclusion and equality for women and girls.

On decent work, the global economy is leaving billions behind. Over 2 billion people are in informal jobs Youth unemployment is stubbornly high. But we have tools to change this.

The Global Accelerator on Jobs and Social Protection is helping countries invest in expanded social protection initiatives, skills training, and the creation of sustainable livelihoods — including in growing industries like clean energy.

Tomorrow, I will deliver an address on the enormous opportunities of the renewables revolution. The upcoming World Summit on Social Development can help spur further progress.

On life below water, our ocean and the communities that count on it are paying the price of overfishing, pollution, and climate change. We must deliver on the commitments of the Nice Ocean Conference — to protect marine ecosystems and support the millions who depend on them. And, finally, on global partnerships — SDG 17 — we need to strengthen all the elements that can support progress.

This means investing in science, data, and local capacity. And harnessing digital innovation — including artificial intelligence — to accelerate progress, not deepen divides.

Throughout, we must recognize the need to reform the unfair global financial system, which no longer represents today’s world or the challenges faced by developing countries.

We must ensure a reform for developing countries to have a stronger voice and greater participation to help advance the Sustainable Development Goals on the ground.

The Sevilla Commitment that emerged from the Conference on Financing for Development includes important steps: Through new domestic and global commitments that can channel public and private finance to the areas of greatest need.

By increasing the capacity of Governments to substantially mobilize domestic resources, including through tax reform. And by establishing a more effective framework for debt relief and tripling the lending capacity of multilateral development banks to the benefit of developing countries.

In the coming year, we must keep building. We must strengthen and scale up partnerships that deliver — including with the private sector and civil society organizations and local authorities.

We must embed long-term thinking into every decision, as we committed in the Declaration on Future Generations. And we must continue to learn from each other.

Voluntary national reviews — the backbone of this forum — are more than reports. They are acts of accountability. They are journeys of self-discovery as countries develop and build. And they are templates for other countries to follow and learn from.

By the end of this high-level political forum, we will have surpassed 400 reviews — with over 150 countries presenting more than once. That is a powerful signal of commitment. A clear demonstration that solutions exist and can be replicated and expanded.

With five years left, it’s time to transform these sparks of transformation into a blaze of progress — for all countries. Let us act with determination, justice and direction. And let’s deliver on development — for people and for planet.

MIL OSI United Nations News –

MIL-OSI China: China boosts connectivity through Belt and Road infrastructure projects

Source: People’s Republic of China – State Council News

A number of signature infrastructure projects — such as the China-Laos Railway, the Jakarta-Bandung High-Speed Railway, and the New Gwadar International Airport — are enhancing connectivity and regional growth along the Belt and Road, said Minister of Transport Liu Wei at a press conference Monday.

MIL-OSI USA: Jewel Osco Stores in Illinois, Indiana and Iowa Voluntarily Recalls Select Items Containing Tuna Salad from Reser’s Fine Foods Due to an Ingredient Recall Linked to Possible Listeria Monocytogenes Contamination

Source: US Department of Health and Human Services – 3

Summary

Company Announcement Date:
July 17, 2025
FDA Publish Date:
July 21, 2025
Product Type:
Food & BeveragesFoodborne Illness
Reason for Announcement:

Recall Reason Description
Potential Foodborne Illness – Listeria monocytogenes

Company Name:
Jewel Osco
Brand Name:

Brand Name(s)
Jewel Osco

Product Description:

Product Description
Tuna Salad Products

Company Announcement
Jewel Osco stores in Illinois, Indiana and Iowa are voluntarily recalling select items containing tuna salad supplied by Reser’s Fine Foods. This action follows a recall initiated by Reser’s Fine Food due to possible contamination with Listeria monocytogenes in breadcrumbs used as an ingredient in their tuna salad.
Listeria monocytogenes is an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, Listeria infection can cause miscarriages and stillbirths among pregnant women.
Consumers who have purchased these items are urged not to consume these products and to dispose of them or return the items to their local store for a full refund. The FDA recommends in these cases that anyone who purchased or received any recalled products to use extra vigilance in cleaning and sanitizing any surfaces and containers that may have come in contact with these products to reduce the risk of cross-contamination. Listeria monocytogenes can survive in refrigerated temperatures and can easily spread to other foods and surfaces.
There have been no reports of injuries or adverse reactions due to consumption of these products. Anyone concerned about an injury or illness should contact a healthcare provider.
The items containing tuna salad were available for purchase at Jewel Osco in Illinois, Indiana and Iowa.
Consumers with questions should contact Albertsons Companies’ Customer Service Center at 1-877-723-3929 Monday through Friday from 5 a.m. to 9 p.m. PST.
Product Recall Details:

Product Name

UPC

Size

Sell Thru Dates (if applicable, Or Lot Code/Est. Number)

Store Banners

States

CLUB SANDWICH ES WITH SALAD FS

29125900000

EA

Jul 16 25 Thru Jul 18 25

Jewel Osco

IL, IN, IA

RM DUO TUNA SALAD W/CRACKER S

27183000000

EA

Jul 17 25 Thru Jul 19 25

Jewel Osco

IL, IN, IA

RM QUAD TUNA SALAD

21500300000

EA

Jul 17 25 Thru Jul 19 25

Jewel Osco

IL, IN, IA

RM SALAD TUNA SS /td>

29486900000

1 LB

Jul 17 25 Thru Jul 19 25

Jewel Osco

IL, IN, IA

RM SNDWCH CROISSNT SSTBL TUNA SALAD SS

21372500000

EA

Jul 17 25 Thru Jul 19 25

Jewel Osco

IL, IN, IA

RM SNDWCH TUNA SALAD CROISSANT SS COLD

21788400000

EA

Jul 16 25 Thru Jul 18 25

Jewel Osco

IL, IN, IA

TUNA SALAD

21680700000

Variable Weight

Jul 17 25 Thru Jul 19 25

Jewel Osco

IL, IN, IA

Company Contact Information

Consumers:
Albertsons Companies’ Customer Service Center
1-877-723-3929

Product Photos

Content current as of:
07/21/2025

Regulated Product(s)

Topic(s)

Follow FDA

1. We, the undersigned Ulama, Imams, and Islamic organisations, firmly reject the Harmony Accord in its current form. It lacks proper consultation, has not undergone adequate theological review in accordance with Islamic principles, and does not represent the values or voices of the Muslim community in Aotearoa.

MIL-OSI New Zealand: Advocacy – Statement of Concern and Clarification Regarding the “Harmony Accord”

Source: Maher Nazzal

To the respected Muslim community across New Zealand,

As-salāmu ʿalaykum wa raḥmatullāhi wa barakātuh,

FIANZ is scheduled (22nd July 2025) to sign an agreement referred to as the Harmony Accord on behalf of the Muslim community in New Zealand, with two Jewish organisations, one of which is publicly aligned with pro-Zionist positions.

Over the past few days, a group of Ulama (Islamic scholars), Imams, and leaders of Islamic organisations from various regions of New Zealand have engaged in urgent consultations regarding the proposed draft of the so-called “Harmony Accord.” This document came to our attention (through non-official channel) just days before its planned official signing between the Federation of Islamic Associations of New Zealand (FIANZ) and two Jewish organisations.

Despite our sincere efforts to engage constructively with the FIANZ representative, Br. Abdul Razzaq, including two formal meetings and a detailed written submission outlining our concerns and proposed amendments as requested, we received no official response from the FIANZ Executive Council. Instead, a public statement was released by FIANZ explaining their rationale and intent to proceed with signing, despite clear objections raised by a significant group of scholars, legal professionals, and civil society advocates, and without any meaningful consultation with religious scholars or community representatives.

Accordingly, after careful consideration, we find it to be our religious, moral, and communal duty to issue this public statement on behalf of the undersigned organisations and individuals—seeking clarity, accountability, and unity within the Muslim community, and fulfilling our responsibility before Allah.

Regarding the Consultative Meetings

Upon learning of the imminent signing of the Accord, a series of emergency meetings were convened by concerned Ulama, Imams, and community leaders representing mosques and Islamic institutions across New Zealand. Attendees included:

Participants:

Sh. Muhammad Aammer

Sh. Muhammad Anwar

Sh. Abu Anas

Sh. Himayatullah

Sh. Muhammad Shakir

Sh. Muhammad Patel

Sh. Shazly Khan

Sh. Alaa Mubarak

Sh. Reza Abdul Jabbar

Sh. Khalil

Note: The above individuals were present in the initial consultative meetings. The signatories to this statement are listed below and represent the final endorsing parties.

These respected scholars and leaders reached a unanimous consensus to reject the Accord in its current form, citing grave religious, ethical, and communal concerns, as well as a clear lack of transparency and proper consultation.

Our Concerns Regarding the Accord:

1. Lack of Consultation and Genuine Representation:

The Accord was never shared with key Islamic scholars, institutions, or the wider Muslim public. It lacked the basic process of transparent and inclusive consultation, and thus cannot be said to represent the New Zealand Muslim community in any legitimate capacity.

2. Doctrinal, Cultural, and Ethical Concerns:

The Accord contains ambiguous language and concepts that are open to interpretation, potentially leading to positions inconsistent with Islamic beliefs or misused in future contexts beyond the original intent of the agreement.

3. Complete Omission of the Palestinian Tragedy:

We are deeply alarmed and disappointed that the Accord makes no mention of the catastrophic humanitarian crisis unfolding in Gaza. Thousands of civilians—including women and children—are being systematically targeted, starved, and displaced in what leading international human rights bodies have classified as war crimes and acts of genocide.

Even more troubling is that one of the Jewish signatories to the Accord has publicly expressed support for the current Israeli policies in Palestine. Proceeding with such an agreement, without any acknowledgment of these realities, is ethically unacceptable, deeply painful for our community, and runs contrary to our shared values of justice and humanity.

4. Concerns Around Youth Engagement and Religious Education:

While we support constructive interfaith educational programs, such initiatives must include theological safeguards. Without scholarly oversight, there is a real risk that such efforts could unintentionally undermine Islamic values or promote secular or pluralistic ideologies inconsistent with our faith—especially in youth and educational settings.

Regarding the Role of FIANZ:

True representation of New Zealand Muslims requires inclusive and transparent engagement with Ulama and Islamic organisations—particularly when addressing matters with theological, cultural, and communal implications.

Signing such sensitive agreements, regardless of intentions, without thorough consultation creates legal, social, and ethical consequences. It also risks falsely implying that the views of all Muslims are aligned behind the signatories.

We emphasise that declining to sign an agreement that contradicts Islamic principles and communal consensus does not equate to disengagement from interfaith dialogue. On the contrary, it is a principled stand to ensure that dialogue is based on mutual respect, clarity, and integrity—as the Qur’an teaches: “And do not argue with the People of the Book except in the best manner…” [Qur’an 29:46]

The idea that declining to sign an agreement risks losing the Muslim community’s “seat at the table” is troubling. New Zealand is a democratic country, built on rights and fairness. We believe the Government will continue to engage with Islamic organisations representing over 75,000 Muslims, regardless of their principled objection to this Accord.

Final Position:

2. Any individuals or organisations who choose to sign the agreement do so solely on their own behalf. Their decision does not reflect the views of the wider Muslim community in New Zealand.

3. We urge Muslims in New Zealand to reject the Accord in its current form, recognising it as unrepresentative and lacking legitimacy.

Our Core Values

1. We affirm that Muslims in New Zealand have, for decades, coexisted peacefully and respectfully with Jewish and other faith communities. The tragic terrorist attack in Christchurch in 2019, which claimed the lives of 51 innocent Muslims, was the act of a violent extremist and does not reflect the values or character of New Zealand society. As Muslims, we reject all forms of violence, racism, and extremism—whether against us or others—and remain committed to justice, compassion, and cooperation.

2. We value all genuine initiatives that seek to promote social harmony, inclusion, and peace across New Zealand.

3. We believe in meaningful interfaith dialogue and partnerships that benefit the broader society.

4. We insist that any agreement involving Muslim representation must respect Islamic values, be rooted in community consultation, and reflect the views of the actual Muslim public.

Our Prayer

We ask Allah Almighty to unite our hearts upon truth, guide our steps with wisdom, protect the dignity of the Muslim community in New Zealand, and bring justice to all those who are oppressed.

Wa-salāmu ʿalaykum wa raḥmatullāhi wa barakātuh.

Signed:

Organizations:

1. Alhera Dawah

2. Almannar Trust (Auckland)

3. Alnejashi Islamic Trust

4. Ashburton Masjid

5. Ashburton Muslim Association (AMAN)

6. As Habul Quran Wasunnah Association (AQWA)

7. AUT Muslim Students’ Association (AUTMSA)

8. Furqan Trust

9. Humanitarian Support Committee NEw Zealand

10. Indonesian Muslim Association

11. Manukau Islamic Youth Centre (MIYC)

12. MASJED Al Rahman, Sh. Abu Omar (Auckland)

13. Murihiku Islamic Trust

14. Massey Muslim Students’ Association (MUMSA)

15. Muslim Ummah of New Zealand (MUNZ)

16. New Zealand Board of Imams

17. North Shore Islamic Association (NSIA)

18. Salam Trust (Auckland)

19. Serve The Humanity

20. Southland Muslim Association

Imams and Ulama:

1. Sh. Abdul Mateen (Auckland)

2. Sh. Abdul Basit (Auckland)

3. Sh. Abdulmanan Ahmed Burka (Auckland)

4. Sh. Abdulsalam (Auckland)

5. Sh. Abu Anas (Auckland)

6. Sh. Alaa Mubarak (Auckland)

7. Sh. Ataur Rahman, Dr. (Auckland)

8. Sh. Dr. Mohammed Farid Ali (Auckland)

9. Sh. Hazem Arafah (Palmerston North)

10. Sh. Himayatullah (Auckland)

11. Sh. Kababa (Auckland)

12. Sh. Mohamed Salim (Auckland)

13. Sh. Mohamed Zewada (Wellington)

14. Sh. Muhammad Shaffiee (Auckland)

15. Sh. Omar Elnagar (Ashburton)

16. Sh. Reza Abdul Jabbar (Invercargill)

17. Sh. Shazly Khan (Hamilton)

18. Sh. Ziyaul Haqq (Auckland).

MIL OSI New Zealand News –

MIL-OSI Asia-Pac: 32 Awarded Scholarships To Tackle Sustainability Challenges

Source: Government of Singapore

JOINT NEWS RELEASE BETWEEN MSE, NEA, PUB AND SFA

Singapore, 21 July 2025 – 16 young individuals have received the Singapore Sustainability Scholarship (SSS) to pursue courses in engineering, environmental, food, and science-related disciplines locally or overseas. Ms Grace Fu, Minister for Sustainability and the Environment, presented the scholarships at the award ceremony today. The SSS is jointly offered by the Ministry of Sustainability and the Environment (MSE), the National Environment Agency (NEA), national water agency PUB, and the Singapore Food Agency (SFA). Minister Fu also presented certificates to 16 in-service scholars, recognising their commitment to enhance their skills and professional expertise, and potential to make even bigger contributions to the public service. The full list of Singapore Sustainability Scholarship and in-service scholars are in Annex A and B respectively.

2 A total of 293 scholarships have been awarded since the inception of the SSS in 2008. The Scholarship identifies potential future public service leaders with a passion for environmental stewardship, and nurtures them to tackle the challenges posed by climate change, environmental sustainability, water supply resilience and food safety and food security. Upon graduation, scholarship recipients will embark on fulfilling careers with MSE, NEA, PUB, or SFA, working on initiatives that impact the everyday lives of Singaporeans. These include safeguarding Singapore’s coastline from the effects of climate change, ensuring a secure and safe food supply for Singapore, and implementing the Singapore Green Plan 2030.

Singapore Sustainability Scholarship Recipients

3 Aarohi Chaudhary, 19, was inspired during her internship in NEA and chose to build a career with the agency. At NEA’s Public Health Policy Department, Aarohi learned that science and policy-making are closely connected while working on a project on new after-death practices. She will be pursuing a Master’s degree in Chemistry at the University of Oxford and is keen to apply scientific knowledge to address Singapore’s environmental challenges.

4 Mohd Kasyful Azhim, 24, is a mid-term scholarship recipient with PUB, pursuing a degree in Chemical Engineering at the Singapore Institute of Technology. Kasyful is a passionate advocate for sustainability initiatives and a member of the student board at Al-Mizan Singapore, a non-profit network under the Association of Muslim Professionals. He is eager to advance PUB’s progress in enhancing sustainability across our operations and contribute to Singapore’s Water Story. “Water is at the heart of Singapore’s sustainability roadmap, and I am excited to play a role in ensuring our water future continues to be resilient and secure.”

5 Darren Chua, 25, represented Singapore in swimming, winning both a Gold and Silver medal for Singapore at the 2023 SEA Games. He is now shifting his focus to veterinary science. Growing up, he spent most of his time in the waters and this ignited his passion for working in aquatic environments. As one of SFA’s scholarship recipients this year, Darren will be pursuing a Bachelor of Veterinary Science at the University of Queensland. His studies will equip him with necessary skills to address challenges in aquatic animal health and food security in Singapore.

In-service Scholarship Recipients

6 Say Yueyang, Symus is one of our in-service scholars. As the Executive Engineer in NEA’s Radiation Protection and Nuclear Science Group (Nuclear Science and Technology Department, Regulation Division), Symus oversees the implementation of Singapore’s obligations under various nuclear safety conventions and agreements and is involved in strategising and planning engagements with international partners to enhance NEA’s capabilities in nuclear safety, safeguards and security. He will be pursuing an International Master’s Programme in Nuclear Engineering and Management at Tsinghua University, which will provide comprehensive professional education and research opportunities in nuclear science and engineering and strengthen his technical foundation to enable more thorough assessment of nuclear energy technologies.

~~ End ~~

For more information, please submit your enquiries electronically via the Online Feedback Form or myENV mobile application.

MIL OSI Asia Pacific News –

MIL-OSI China: China claim two silvers in artistic swimming at World Aquatics Championships

Source: People’s Republic of China – State Council News

China added two silver medals to its tally at the 2025 World Aquatics Championships on Monday, with 17-year-old Guo Muye placing second in the men’s solo free routine and twin sisters Lin Yanhan and Lin Yanjun finishing runners-up in the women’s duet technical final.

Lin Yanhan/Lin Yanjun of China perform during the women’s duet technical final of artistic swimming at the World Aquatic Championships in Singapore, July 21, 2025. (Xinhua/Xia Yifang)

In the preliminaries, the Lin sisters had ranked second overall with a score of 301.0933 points, securing their place in the 12-pair final.

Performing a routine themed “Warriors of moon shadow”, Lin Yanhan and Lin Yanjun earned 301.4057 points for the silver, finishing behind Austrian sisters Anna-Maria and Eirini-Marina Alexandri. The bronze medal went to neutral athletes Mayya Doroshko and Tatiana Gayday.

“I think both the Austrian team and the neutral athletes delivered performances that are truly worth learning from,” Lin Yanhan said. “We went back and watched their videos after the preliminary round, and it was clear there’s still a significant gap between us. We know we have a lot of room for improvement.”

Earlier on Monday, Guo, who had finished fourth in his men’s solo technical final last Saturday, delivered a strong performance in the men’s solo free routine to secure the silver medal with 220.1926 points. The gold went to Aleksandr Maltsev, who tallied 229.5613 points, while Italy’s Filippo Pelati took bronze with 213.9850.

“I feel quite happy about winning this medal,” Guo said. “But this is not yet a gold, so I still have much to work on. I need to improve the height and lines of my routines, as well as my eye contact and interaction with the judges.”

MIL-OSI China: China weaves stronger transport networks in 14th Five-Year Plan period

Source: People’s Republic of China – State Council News

BEIJING, July 21 — Over the 14th Five-Year Plan period (2021-2025), China has woven a more integrated and multidimensional transport network, making sweeping progress that has enhanced connectivity and underpinned economic growth.

By the end of 2024, six out of 17 major transport targets set in the plan had been achieved ahead of schedule, including expressway and urban rail lengths, access to express parcel delivery in villages, and the share of new energy buses in urban public transport, Minister of Transport Liu Wei told a press conference on Monday.

The remaining targets are expected to be achieved by the end of this year, the minister added.

Liu noted that over the past five years, China’s transport sector has achieved “historic progress,” with over 90 percent of the core framework of the national comprehensive transport network already in place.

Behind this progress is robust investment. From 2021 to 2024, fixed-asset investment in transport totaled 15.2 trillion yuan (about 2.1 trillion U.S. dollars), a 23.3 percent increase from the previous cycle.

INTEGRATED CONNECTIVITY

Stretching across land, sea and sky, China’s transport networks have evolved into vital arteries powering the country’s modernization.

By the end of 2024, China’s railway network had reached 162,000 km in total operating length, an increase of about 16,000 km from the end of 2020. Of this, high-speed rail expanded by 10,000 km to exceed 48,000 km, covering 97 percent of cities with populations over 500,000.

Highways stretched to 5.49 million km, up 290,000 km from five years earlier. Expressways accounted for 191,000 km, covering 99 percent of cities with a population of over 200,000.

Certified civil airports increased to 263 by the end of 2024, 22 more than in 2020, Liu said, adding that air services now cover over 91 percent of the country’s population.

In urban commuting, a diversified public transport system has provided strong support for daily mobility. Each day, about 100 million urban trips are made by rail, 100 million by bus, and 100 million by taxis and ride-hailing services. These figures highlight the capacity and vitality of China’s urban transport system, Liu said.

Smart tools like online ticketing and digital payments have made travel more efficient and accessible, Liu said, adding that over 80 hub cities support air-rail intermodal transport.

BRIDGING GAPS

Improved transport and logistics are enhancing access across rural and less-developed areas, bringing services, markets and new opportunities within reach.

As of end-2024, rural roads reached 4.64 million km, and over 30,000 townships and 500,000 administrative villages have been connected by paved roads, Liu said.

“The last mile of rural roads is now accessible by cars,” the minister said, adding that rural roads are fueling the growth of new industries and tourism, creating local jobs, and raising farmers’ incomes.

Express delivery services have also played an increasingly important role in narrowing gaps. China has built a three-tier logistics system linking counties, townships and villages, turning rural delivery weak points into engines of consumption and growth, Zhao Chongjiu, head of the State Post Bureau, said at the press conference.

In 2024, express delivery volumes in central and western China rose by 30 percent and 34 percent, respectively, outpacing the national average, Zhao noted.

In regions such as Qinghai and Gansu, newly launched mail and courier processing centers have significantly improved handling capacity, enhancing logistics infrastructure in western China, he added.

GLOBAL LINKS

China has expanded its global transport network over the past years, boosting connectivity and driving cross-border trade and cooperation.

The China-Europe freight trains have carried out over 110,000 trips, and nearly 10,000 sea-rail intermodal trains were operated annually along the new western land-sea corridor, Liu said.

Since its launch over three years ago, the China-Laos Railway has transported 13.9 million tonnes of cargo across more than 3,000 product categories, accelerating the delivery of a wider range of Southeast Asian agricultural products to Chinese consumers.

China’s global air freight is also on the rise. Driven by booming e-commerce, international air cargo volume reached nearly 9 million tonnes in 2024, up 32.8 percent over 2020.

China has been pushing for greater connectivity through the alignment of rules and regulations. It has signed over 270 bilateral and multilateral transport agreements covering rail, road, sea, air and postal sectors, according to Liu.

China has also used international cooperation projects to deliver tangible benefits to local communities. For example, the Mombasa-Nairobi Railway has created over 74,000 jobs in Kenya, with a localization rate exceeding 90 percent and more than 2,800 railway professionals trained, Liu said.

Looking ahead, China will accelerate the building of a strong transportation network through deeper integration, enhanced safety, smart upgrades and green transformation to support the country’s modernization drive, Liu added.

MIL-OSI USA: ICYMI—Hagerty Joins Kudlow on Fox Business to Discuss GENIUS Act Signing

US Senate News:

Source: United States Senator for Tennessee Bill Hagerty
WASHINGTON—Last week, United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee and former U.S. Ambassador to Japan, joined Kudlow on Fox Business live from the White House after President Donald Trump signed his GENIUS Act into law.
*Click the photo above or here to watch*Partial Transcript
Hagerty on the impact of the GENIUS Act: “What this [the GENIUS Act] does is it takes a payment system that was designed in the 1970s out of business. We go into the blockchain—much more efficient, much more effective. Trades that took five or 10 days to clear now can be done almost instantaneously. If you think about the working capital that comes out of the system, the counterparty risk that goes away, the currency risk if you’re doing a cross-border transaction—all of that is minimized because of the speed of these transactions.”
Hagerty on increased demand for U.S. Treasuries: “In terms of the impact on the dollar and on Treasuries, I think that’s going to be very significant. The demand for U.S. treasuries is going to go up significantly. In fact, every projection shows that stablecoin issuers will become the largest holders of U.S. Treasuries, because every stablecoin in America has to be backed dollar-for-dollar by a U.S. Treasury or cash. That’s going to stimulate Treasury demand. That’s going to have a great impact on rates, bringing them down. It’ll help the Treasury secretary manage much better. And as we look at the environment we’re in right now, with rates too high and the cost of our debt too high, this is going to be a definite help.”
Hagerty on global dollar dominance: “This [the GENIUS Act] will cement the U.S. dollar as the reserve currency of the world. People around the world would much rather own a decentralized, U.S. dollar-denominated currency that they know is backed up by U.S. Treasuries than a Chinese yuan or a euro, currencies that are centralized and controlled by their governments. This is going to be a far better product. And I think what this does is it takes us from being on our heels, which is where we were for the last four years, when the Biden administration waged war on the industry, and moves us into the 21st century.”

MIL-OSI New Zealand: Health – ProCare welcomes announcement of new Waikato medical school as a commitment to strengthening primary care workforce

Source: ProCare

Leading healthcare provider, ProCare, warmly welcomes the announcement from Health Minister Simeon Brown and Universities Minister Dr Shane Reti that Cabinet has approved the establishment of a new medical school at the University of Waikato.

While the school won’t open until 2028, the announcement includes a strong focus on primary care and rural health which is much needed.

Bindi Norwell, Chief Executive of ProCare says: “With around 50% of GPs due to retire in the next 10 years this is a significant and timely investment in New Zealand’s healthcare workforce. The decision to prioritise primary care and rural health in the new Waikato Medical School aligns closely with the needs of our communities and the future of general practice.

“This is more than ‘just’ a new medical school – it’s a long-term investment in the health and wellbeing of the people of Aotearoa New Zealand. We commend the Government for listening to the sector and taking decisive action,” continues Norwell.

The graduate-entry programme will add 120 new doctor training places annually, helping to address the growing shortage of GPs and primary care clinicians across the motu.

“General practices are already feeling the strain of being able to meet increasing patient demand – especially in our rural and underserved communities. This announcement is a proactive step toward ensuring continuity of care and equitable access to health services,” says Norwell.

“This is a pivotal moment which will help reshape the pipeline of medical education. By creating more flexible pathways into medicine and embedding primary care at the heart of training, we can attract a more diverse and community-focused cohort of future doctors,” Norwell adds.

The announcement also complements recent expansions in nursing, pharmacy, and midwifery programmes at the University of Waikato, reinforcing a holistic approach to workforce development.

“It is unclear at this early stage exactly how the four-year degree programme will focus specifically on primary care, but we look forward to working collaboratively with the University and the Government to help support clinical placements of those graduates and ensure that students gain meaningful experience in general practice settings,” concludes Norwell.

About ProCare

ProCare is a leading healthcare provider that aims to deliver the most progressive, pro-active and equitable health and wellbeing services in Aotearoa. We do this through our clinical support services, mental health and wellness services, virtual/tele health, mobile health, smoking cessation and by taking a population health and equity approach to our mahi. As New Zealand’s largest Primary Health Organisation, we represent a network of general practice teams and healthcare professionals who provide care to more than 830,000 people across Auckland and Northland. These practices serve the largest Pacific and South Asian populations enrolled in general practice and the largest Māori population in Tāmaki Makaurau. For more information go to www.procare.co.nz

MIL OSI New Zealand News –

MIL-OSI China: China has over 1.12 billion internet users, boosting prowess in culture, AI

Source: People’s Republic of China – State Council News

China had more than 1.12 billion internet users as of June 2025, according to a report released by the China Internet Network Information Center (CNNIC) on Monday.

The report also noted that internet penetration in China reached 79.7 percent by June 2025, an increase of 1.1 percentage points compared with December 2024.

People visit the Light of Internet Expo in Wuzhen, east China’s Zhejiang Province, Nov. 19, 2024. The Light of Internet Expo kicked off on Tuesday during the 2024 World Internet Conference (WIC) Wuzhen Summit in the water-town of Wuzhen, showcasing the latest technological achievements, especially those made in the artificial intelligence (AI) area. (Xinhua/Cai Xiangxin)

According to the report, China has made significant strides in internet development during the 14th Five-Year Plan period (2021-2025). In particular, efforts to make the internet more inclusive have allowed key groups, such as the elderly and rural residents, to share in the benefits of this progress.

As of June 2025, China had 161 million internet users aged 60 and above, and 322 million living in rural areas. Internet penetration among these groups reached 52 percent and 69.2 percent, respectively.

Meanwhile, the continued development of the internet in China has played a key role in promoting Chinese culture both domestically and internationally, the report said, citing the rising export of Chinese online literature and games, along with the growing synergy between popular web series and related tourist destinations.

For instance, in 2024, the overseas market scale of Chinese online literature exceeded 5 billion yuan (about 700 million U.S. dollars). Reaching more than 200 countries and regions worldwide, Chinese online literature now has more than 350 million overseas readers.

In particular, Japan saw its number of Chinese online literature readers grow by an astounding 180 percent, making it the fastest-growing emerging market in the sector.

Zhang Yijun, first vice chairman of the China Audio-video and Digital Publishing Association, said that China’s online literature has emerged as a new mass cultural art form and promoted the development of a diversified value system within the industry, and that its integration with micro-short dramas opened up new paths for the industry’s transformation in 2024.

Apart from online art and literature creations, the report also highlighted China’s remarkable progress in generative artificial intelligence (AI) development. It noted that in the first half of 2025, generative AI products saw development on all fronts, from technology to application.

As of March 2025, a total of 346 generative AI services were registered at the Cyberspace Administration of China, the report said.

In terms of application, domestic Chinese AI products have achieved significant breakthroughs, reaching parameter scales in the hundreds of billions and achieving multi-modal capabilities. They have been deeply integrated into scenarios such as office collaboration, education, industrial design and content creation, forming an intelligent application ecosystem covering multiple fields.

MIL-OSI: AIXA Miner Launches New Ethereum Cloud Mining Contracts Amid Renewed Market Focus on ETH

Source: GlobeNewswire (MIL-OSI)

Denver, Colorado, July 21, 2025 (GLOBE NEWSWIRE) — AIXA Miner, a global leader in automated and sustainable crypto mining infrastructure, has officially launched its Ethereum (ETH) cloud mining offering, designed to meet the growing demand for intelligent, secure, and compliant participation in the Ethereum ecosystem. The launch comes as Ethereum garners fresh attention across global markets, following a combination of regulatory clarity, increased institutional capital flows, and renewed public interest in digital assets.

As of mid-July 2025, the price of Ethereum has surged past $3,775, marking an increase of more than 15% in the last seven days. This latest rally has been driven by several key catalysts, including the passage of the GENIUS Stablecoin Act by the U.S. House of Representatives and continued inflows into Ethereum spot exchange-traded funds (ETFs). The convergence of legislative support and institutional adoption has sparked what many are calling a turning point in the maturity of Ethereum as a core blockchain infrastructure layer.

“The renewed spotlight on Ethereum signals a shift toward broader acceptance and real-world integration,” said a spokesperson from AIXA Miner’s Blockchain Product Division. “With our new ETH cloud mining contracts, we aim to empower users to engage with this ecosystem in a scalable, automated, and environmentally responsible way—without the need to manage complex hardware or market risk.”

AIXA Miner’s Ethereum cloud mining solution enables users to earn daily ETH income through a secure and seamless contract-based process. Participants simply select a preferred mining tier, fund their contract, and begin receiving daily rewards—all backed by AIXA Miner’s proprietary AI-optimized mining engine and green-powered global infrastructure.

The new ETH mining plans were developed with flexibility and user experience at the core. Whether participants are newcomers exploring Ethereum for the first time or seasoned investors seeking consistent passive income, AIXA Miner offers plan durations and capital thresholds to suit diverse profiles. The system operates through real-time smart contracts that automate all aspects of the mining process—reward calculation, distribution, energy load balancing, and uptime management.

Behind this offering is AIXA Miner’s commitment to clean energy and sustainability. All Ethereum mining contracts are powered by a distributed network of data centers running on renewable energy sources, including hydroelectric, solar, and wind. This infrastructure spans North America, Southeast Asia, and parts of South America—regions selected for their grid stability, low-emission potential, and compatibility with energy-efficient GPU hardware.

In line with its green blockchain framework, AIXA Miner ensures that every ETH mining contract includes transparency tools, allowing users to view energy source metrics, regional energy efficiency data, and carbon offset details. These insights help participants engage with the platform in a way that aligns with both personal financial goals and global environmental standards.

“Sustainability and transparency are more than just operational standards—they’re competitive advantages in today’s market,” the spokesperson added. “We are proud to bring an Ethereum mining experience that delivers on performance, compliance, and accountability.”

AIXA Miner’s launch also coincides with the global celebration of “Cryptocurrency Week”, a coordinated industry effort to promote education, innovation, and participation in the digital asset space. With Ethereum playing a central role in DeFi, NFTs, and enterprise applications, cloud mining represents a valuable on-ramp for users looking to earn from the network without engaging in active trading.

Unlike traditional Ethereum staking, which often requires minimum holding thresholds, locked capital, or technical validator setup, AIXA Miner’s solution provides an alternative model. Participants do not need to manage private keys or interact with smart contract code; instead, they benefit from a fully-managed, automated income stream through mining participation.

The ETH cloud mining contracts are now live and available globally through AIXA Miner’s intuitive web and mobile platforms. Each contract includes a dedicated performance dashboard showing mining speed, reward accumulation, and environmental impact—all updated in real time.

As institutional engagement grows and regulatory frameworks become clearer, AIXA Miner remains committed to building user-first solutions that reflect the evolving nature of blockchain participation. This latest ETH launch further reinforces the company’s mission to make sustainable, intelligent mining accessible to everyone, anywhere in the world.

Media Contact:
PR Division
info@aixaminer.com
https://aixaminer.com

Disclaimer:
This press release is for informational purposes only. Participation in cloud mining involves risk and should be based on independent research. AIXA Miner does not provide investment advice or guarantee specific financial outcomes.

Attachment

AIXA Miner

MIL-OSI USA: Battleship North Carolina Hosts Announcement: North Carolina Named CNBC’s ‘Top State for Business’

Source: US State of North Carolina

Headline: Battleship North Carolina Hosts Announcement: North Carolina Named CNBC’s ‘Top State for Business’

Battleship North Carolina Hosts Announcement: North Carolina Named CNBC’s ‘Top State for Business’
jejohnson6
Mon, 07/21/2025 – 17:29

WILMINGTON

Governor Josh Stein’s announcement Thursday that the state was named CNBC’s “Top State for Business” — its third time earning the title in the last four years — was revealed from the deck of one of the state’s most iconic landmarks, the Battleship North Carolina.The Battleship North Carolina, a State Historic Site and part of the N.C. Department of Natural and Cultural Resources, symbolizes North Carolina’s continued forward momentum and attracts more than 200,000 visitors annually.

“North Carolina’s recognition as the ‘Top State for Business’ echoes the legacy of excellence embodied by the Battleship North Carolina,” said Executive Director Jay Martin. “We’re proud that this historic site could serve as the backdrop for such a meaningful moment in our state’s story.”

Gov. Stein celebrated the ranking as a testament to North Carolina’s skilled workforce, strong infrastructure, world-class education system, and high quality of life.

“This confirms what we have known for a long time — that North Carolina is the best state in the country for business,” said Gov. Stein. “I am proud of the progress our state has made, and we are just getting started.”

North Carolina earned top scores in Economy, Workforce, and Business Friendliness, scoring 1,614 out of a possible 2,500 points in CNBC’s nationwide analysis.

Since taking office in January, Gov. Stein has announced nearly $17 billion in new capital investment and more than 20,000 new jobs. His administration has launched initiatives to expand workforce training, reduce degree barriers to state jobs, and invest in small business recovery, particularly in western North Carolina.

About the North Carolina Department of Natural and Cultural Resources
The N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina – its diverse arts and culture, rich history, and spectacular natural areas. Through its programs, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency.

The department manages over 100 locations across the state, including 27 historic sites, seven history museums, two art museums, five science museums, four aquariums, 35 state parks, four recreation areas, dozens of state trails and natural areas, the North Carolina Zoo, the State Library, the State Archives, the N.C. Arts Council, the African American Heritage Commission, the American Indian Heritage Commission, the State Historic Preservation Office, the Office of State Archaeology, the Highway Historical Markers program, the N.C. Land and Water Fund, and the Natural Heritage Program. For more information, please visit www.dncr.nc.gov.

Jul 17, 2025

MIL-OSI USA: North Carolina Zoo Grieves Giraffe Leia

Source: US State of North Carolina

Headline: North Carolina Zoo Grieves Giraffe Leia

North Carolina Zoo Grieves Giraffe Leia
jejohnson6
Mon, 07/21/2025 – 17:17

The North Carolina Zoo is grieving the loss of Leia, a 15-year-old giraffe, who has been a beloved part of the Zoo family since 2010. Grief counselors have been on site to support staff members during the grieving process. Leia’s death is especially raw as she passed away Tuesday, only a day after the Zoo’s long-time Director and CEO Pat Simmons.

On the morning of her death, Leia underwent a planned medical procedure to address a foot injury. Medical staff expected Leia to make a full recovery before she experienced acute aspiration following the procedure. Aspiration is a recognized complication that can sometimes occur with the use of anesthesia in both humans and animals, and is generally considered the most common complication with giraffe surgical procedures. A necropsy, or animal autopsy, was performed on Leia and results confirmed aspiration as the official cause of death.

Zoo team members, particularly the caretakers, the Zoo’s medical staff, entertainment staff and volunteers who formed a special bond with Leia over the years are heartbroken. The Zoo respectfully requests privacy and compassion for affected staff as they continue to mourn.

“We are so grateful to the community and our loyal supporters for the outpouring of love during this incredibly challenging time,” says Deputy Director Diane Villa. “Your warmth and kind words are a comfort to us all as we navigate loss and begin our journey toward healing.”

About the North Carolina Zoo
At the North Carolina Zoo, we celebrate nature. As the world’s largest natural habitat Zoo, we inspire a lifelong curiosity about animals in the hundreds of thousands of people who visit our Zoo each year. Our dedicated team of experts provides exceptional, compassionate care for the more than 1,700 animals and 52,000 plants that call our Park home. We also lead efforts locally and globally to protect wildlife and wild places because we believe nature’s diversity is critical for our collective future. The North Carolina Zoo invites all of our guests to witness the majesty of the wild in the heart of North Carolina and welcomes everyone to join in our mission to protect nature’s diversity. Visit NCZoo.org to begin your life-changing journey.

About the North Carolina Department of Natural and Cultural Resources
The N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina – its diverse arts and culture, rich history, and spectacular natural areas. Through its programs, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency.

The department manages over 100 locations across the state, including 27 historic sites, seven history museums, two art museums, five science museums, four aquariums, 35 state parks, four recreation areas, dozens of state trails and natural areas, the North Carolina Zoo, the State Library, the State Archives, the N.C. Arts Council, the African American Heritage Commission, the American Indian Heritage Commission, the State Historic Preservation Office, the Office of State Archaeology, the Highway Historical Markers program, the N.C. Land and Water Fund, and the Natural Heritage Program. For more information, please visit www.dncr.nc.gov.

Jul 18, 2025

MIL-OSI USA: Mountain Gateway Museum to Host Historical Book Club Meeting July 30

Source: US State of North Carolina

Headline: Mountain Gateway Museum to Host Historical Book Club Meeting July 30

Mountain Gateway Museum to Host Historical Book Club Meeting July 30
jejohnson6
Mon, 07/21/2025 – 17:20

Mountain Gateway Museum, in partnership with the McDowell County Public Library, has launched a new monthly book club exploring regional history through literature.

The second gathering of the Mountain Stories Book Club will be held Wednesday, July 30, from 6-7:30 p.m. at the museum’s new location (78-C Catawba Ave., Old Fort). The featured book is “My Old True Love” by Sheila Kay Adams, a historical novel set in Madison County during the 1860s.

This free event is open to the public and will highlight a different book each month that connects to western North Carolina’s rich and complex history.

Copies of “My Old True Love” are available through McDowell County Public Library in multiple formats. The Old Fort Library reopened at the beginning of July. For more information, call 828-619-5100 or visit mgmnc.org.

About Mountain Gateway Museum
A regional branch of the North Carolina Museum of History in Raleigh, the Mountain Gateway Museum & Heritage Center (MGM) is the westernmost facility in the N.C. Department of Natural & Cultural Resources’ Division of State History Museums.

Nestled at the foot of the Blue Ridge Mountains along the banks of historic Mill Creek in downtown Old Fort (McDowell County), the museum uses artifacts, exhibitions, educational programs, living history demonstrations, and special events to teach people about the rich history and cultural heritage of the state’s mountain region, from its original inhabitants through early settlement and into the 20th century.

As part of its education outreach mission, MGM also assists non-profit museums and historic sites in 38 western NC counties with exhibit development and fabrication, genealogical research, photography archives, traveling exhibitions, and consultations.

About the North Carolina Department of Natural and Cultural Resources
The N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina – its diverse arts and culture, rich history, and spectacular natural areas. Through its programs, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency.

The department manages over 100 locations across the state, including 27 historic sites, seven history museums, two art museums, five science museums, four aquariums, 35 state parks, four recreation areas, dozens of state trails and natural areas, the North Carolina Zoo, the State Library, the State Archives, the N.C. Arts Council, the African American Heritage Commission, the American Indian Heritage Commission, the State Historic Preservation Office, the Office of State Archaeology, the Highway Historical Markers program, the N.C. Land and Water Fund, and the Natural Heritage Program. For more information, please visit www.dncr.nc.gov.

Jul 18, 2025

MIL-OSI USA: Rehabilitation of Sea Turtle Captures Hearts and Exemplifies N.C. Aquarium Mission

Source: US State of North Carolina

Headline: Rehabilitation of Sea Turtle Captures Hearts and Exemplifies N.C. Aquarium Mission

Rehabilitation of Sea Turtle Captures Hearts and Exemplifies N.C. Aquarium Mission
jejohnson6
Mon, 07/21/2025 – 17:13

The newest sea turtle patient at the N.C. Aquarium on Roanoke Island is quickly capturing hearts across the Outer Banks. In late June a small juvenile green sea turtle, nicknamed “Lucky Duck,” arrived at the Sea Turtle Assistance and Rehabilitation (S.T.A.R.) Center at the N.C. Aquarium on Roanoke Island with visible injuries from an apparent shark bite. The mission of the Aquarium, to inspire appreciation and conservation of our aquatic environments, is lately exemplified by Lucky’s Duck’s survival and rehabilitation. The Aquarium is part of the N.C. Department of Natural and Cultural Resources.

On June 25 a radiograph revealed a fractured carapace and additional health complications for Lucky Duck. Upon closer inspection, Aquarium veterinarians and sea turtle aquarists at the S.T.A.R. Center discovered Lucky Duck’s intestinal tract was flooded with ingested micro-plastics. To demonstrate the severity and amount of plastic Lucky Duck ingested, the striking variety of defecated debris was placed on display at the Aquarium to raise public awareness about the damage single-use plastic can cause for wildlife.

Contending with difficulties caused by both natural and man-made encounters, Lucky Duck came by its nickname naturally having survived these difficulties and being rescued oceanside by a visitor to the Outer Banks by notifying Aquarium partner, N.E.S.T. (Network for Endangered Sea Turtles).

Since arriving at the Aquarium, Lucky Duck has been on a steady diet of protein and lettuce—roughage—to help it defecate the ingested plastic. When plastics enter a sea turtle’s environment, it presumes the plastics to be part of the environment. Plastic grocery bags in water, for example, appear as jellyfish to a sea turtle. A sea turtle with a belly full of micro-plastics will expend energy trying to digest the plastic, which wastes valuable nutrients and weakens the sea turtle. At the Aquarium, Lucky Duck is receiving quality food and nutrients to restore its health, which is especially important as it recovers from trauma wounds due to the apparent shark bite. Lucky Duck is healing nicely, swimming, and navigating excellently. The Aquarium is pleased to share this progress report with the public.

Responding to the impact of Lucky Duck’s story, Leslie Vegas, husbandry curator at the Aquarium said, “Working with the team that cares for the animals is so rewarding, whether the animals are rehab patients or permanent residents at our facility. Lucky Duck’s story is one of many that can inspire folks to appreciate all the animals we are lucky enough to care for at the Aquarium. They each have unique stories that teach us the importance of conservation work.”

The S.T.A.R. Center, founded at the Aquarium in 2014, rehabilitates rescued sea turtles year-round. In recent years, sea turtle patients have been treated at the Aquarium for assorted problems, including cold-stunning, eye injuries, kidney failure, pneumonia, frostbite, infections, and injuries from boat strikes and ingested fishing hooks. When sea turtle patients are cleared by Aquarium veterinarians, the Aquarium releases recovered sea turtles back into their natural environment. Sea turtles have been released by the Aquarium oceanside, offshore into the warm waters of the Gulf Stream, and into the Croatan Sound—the Aquarium’s aquatic backyard. Dedicated in 1976, the Aquarium is celebrating its 50th anniversary in 2026.

About the North Carolina Aquarium on Roanoke Island
Located on the Outer Banks in Manteo, N.C., the N.C. Aquarium on Roanoke Island is part of N.C. Aquariums, which includes four attractions along North Carolina’s coast and is a division of the N.C. Department of Natural and Cultural Resources. The 63,000 square-foot facility on 16 acres overlooks the Croatan Sound and houses over 2,200 animals. Over 319,000 guests visit the Aquarium each year to see the 285,000-gallon “Graveyard of the Atlantic” shark and ocean habitat, visit the Sea Turtle Assistance and Rehabilitation (S.T.A.R.) Center, and learn why North Carolina’s waterways are so special. As an educational attraction, the mission of N.C. Aquariums is to inspire appreciation and conservation of our aquatic environments. The Aquarium is open from 9 a.m. to 5 p.m. every day except Thanksgiving and Christmas. For more information, please visit www.ncaquariums.com/roanoke-island.

About the North Carolina Department of Natural and Cultural Resources
The N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina – its diverse arts and culture, rich history, and spectacular natural areas. Through its programs, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency.

The department manages over 100 locations across the state, including 27 historic sites, seven history museums, two art museums, five science museums, four aquariums, 35 state parks, four recreation areas, dozens of state trails and natural areas, the North Carolina Zoo, the State Library, the State Archives, the N.C. Arts Council, the African American Heritage Commission, the American Indian Heritage Commission, the State Historic Preservation Office, the Office of State Archaeology, the Highway Historical Markers program, the N.C. Land and Water Fund, and the Natural Heritage Program. For more information, please visit www.dncr.nc.gov.

Jul 21, 2025

MIL-OSI USA: In Elmira, As New York Police Departments Face Staffing Shortages, Gillibrand Announces Bill To Keep New Yorkers And Law Enforcement Families Safe

US Senate News:

Source: United States Senator for New York Kirsten Gillibrand

The Providing Child Care for Police Officers Act would establish a pilot program to provide child care services for police officers to accommodate their work hours and enhance officer recruitment and retention

Today, standing with law enforcement officials, U.S. Senator Kirsten Gillibrand called for the passage of the Providing Child Care for Police Officers Act. The bipartisan bill would provide $24 million in federal funding for each of the next 5 fiscal years to establish a pilot child care services program to support law enforcement families.

“Law enforcement is one of the most critical components of keeping communities safe, and police officers should not have to choose between taking care of their children and staying in the police force,” said Senator Gillibrand. “Providing child care options will open the professional door to aspiring police officers who do not want to worry about child care while also providing stability to current officers struggling to find child care options.”

The Providing Child Care for Police Officers Act would establish a grant pilot program to provide child care services for the children of police officers to accommodate the shift work and abnormal work hours of the officers, and to enhance recruitment and retention of the workforce. Specifically, the bill authorizes $24 million in funding for each of the next 5 fiscal years and allows for grants of up to $3 million to individual law enforcement agencies or consortia to establish child care programs for their police personnel. In addition, to ensure parents employed by smaller police departments receive support, 20% of the total grant funding will be set aside for law enforcement agencies employing fewer than 200 officers.

Police officers often work extended hours on a nontraditional schedule. In a recent survey, more than 70% of law enforcement agencies reported that recruitment is more difficult now than five years ago, and at one major metropolitan police department, more than half of officers reported having to leave or miss work due to child care issues. This issue disproportionately impacts women, who make up less than 14% of sworn officers and 4% of police chiefs. Senator Gillibrand’s bill would help increase public safety by reducing barriers to a career in law enforcement and by ensuring the best talent is recruited into our police departments.

Senator Thom Tillis (R-NC) cosponsors this bill in the Senate and Representative Scott Peters (D-CA-50) leads the bill in the House of Representatives.

“I thank Senator Gillibrand on her efforts to reintroduce this legislation,” said Mayor Dan Mandell of Elmira. “If passed, this legislation would immensely benefit those police officers with children who struggle to find child care due to their diverse work hours.”

“Funding for law enforcement child care ensures that whatever the circumstance — but especially in the most dire of circumstance — they can protect and defend without the distraction of concern for the wellness of their own children moment to moment, and fully concentrate on providing the utmost safety for all of the community, secure in the knowledge that their own family is safe and being well cared for,” said Chemung County Legislator Brent Stermer.

This legislation is supported by the following organizations: 30×30, Federal Law Enforcement Officers Association (FLEOA), International Union of Police Associations (IUPA), National Asian Peace Officers Association (NAPOA), National Association of Police Organizations (NAPO), National Fraternal Order of Police (FOP), National Organization of Black Law Enforcement Executives (NOBLE), NYPD Sergeants Benevolent Association (SBA), International Association of Chiefs of Police, Central New York Association of Chiefs of Police, New York State Association of Chief of Police, AFSCME, and Third Way.

MIL-OSI USA: In Poughkeepsie, As New York Police Departments Face Staffing Shortages, Gillibrand Announces Bill To Keep New Yorkers And Law Enforcement Families Safe

US Senate News:

Source: United States Senator for New York Kirsten Gillibrand

The Providing Child Care for Police Officers Act would establish a pilot program to provide child care services for police officers to accommodate their work hours and enhance officer recruitment and retention

Today, standing with law enforcement officials,U.S. Senator Kirsten Gillibrand called for the passage of the Providing Child Care for Police Officers Act. The bipartisan bill would provide $24 million in federal funding for each of the next 5 fiscal years to establish a pilot child care services program to support law enforcement families.

“Law enforcement is one of the most critical components of keeping communities safe, and police officers should not have to choose between taking care of their children and staying in the police force,” said Senator Gillibrand. “Providing child care options will open the professional door to aspiring police officers who do not want to worry about child care while also providing stability to current officers struggling to find child care options.”

The Providing Child Care for Police Officers Act would establish a grant pilot program to provide child care services for the children of police officers to accommodate the shift work and abnormal work hours of the officers, and to enhance recruitment and retention of the workforce. Specifically, the bill authorizes $24 million in funding for each of the next 5 fiscal years and allows for grants of up to $3 million to individual law enforcement agencies or consortia to establish child care programs for their police personnel. In addition, to ensure parents employed by smaller police departments receive support, 20% of the total grant funding will be set aside for law enforcement agencies employing fewer than 200 officers.

Police officers often work extended hours on a nontraditional schedule. In a recent survey, more than 70% of law enforcement agencies reported that recruitment is more difficult now than five years ago, and at one major metropolitan police department, more than half of officers reported having to leave or miss work due to child care issues. This issue disproportionately impacts women, who make up less than 14% of sworn officers and 4% of police chiefs. Senator Gillibrand’s bill would help increase public safety by reducing barriers to a career in law enforcement and by ensuring the best talent is recruited into our police departments.

Senator Thom Tillis (R-NC) cosponsors this bill in the Senate and Representative Scott Peters (D-CA-50) leads the bill in the House of Representatives.

“Our cops are heroes, we’ve got to have their back and make sure they have all the tools they need to take care of our families as well as their own,” said Congressman Pat Ryan. “My number one priority is making sure our communities are safe and that all starts with taking care of our cops. This is commonsense legislation – it’s a win for working parents, a win for law enforcement recruitment, a win for our cops and a win for public safety across the entire country. As a father and a public servant, I will push relentlessly to get this bill signed into law.”

“Finding affordable, reliable childcare is one of the biggest challenges facing families today – and for law enforcement officers working nights, weekends, and unpredictable shifts, it can feel nearly impossible,” said Dutchess County Executive Sue Serino. “This bill tackles a real barrier that keeps too many parents, especially women, from staying in the profession. I’m grateful to Senator Gillibrand for working across the aisle to bring attention to this issue and advance a practical solution that supports the people behind the badge and strengthens public safety in communities like ours.”

“Our law enforcement partners put their lives on the line to protect us every day, around the clock and under intense pressure. Senator Gillibrand’s Child Care for Police Officers Act establishes reliable childcare services for our police officers, which in turn strengthens public safety in Dutchess County,” said Dutchess County District Attorney Anthony Parisi. “This legislation is about supporting those who protect our communities and giving them the same peace of mind they provide us every day. I’m proud to support this important legislation.”

This legislation is supported by the following organizations: 30×30, Federal Law Enforcement Officers Association (FLEOA), International Union of Police Associations (IUPA), National Asian Peace Officers Association (NAPOA), National Association of Police Organizations (NAPO), National Fraternal Order of Police (FOP), National Organization of Black Law Enforcement Executives (NOBLE), NYPD Sergeants Benevolent Association (SBA), International Association of Chiefs of Police, Central New York Association of Chiefs of Police, New York State Association of Chief of Police, AFSCME, and Third Way.

MIL-OSI USA: Presidential Message on the 81st Anniversary of the Liberation of Guam

US Senate News:

Source: US Whitehouse
Today, on the 81st anniversary of the liberation of Guam from Imperial Japanese control, our Nation proudly honors the strength, courage, and unbreakable resilience of every hero of liberty who gallantly fought to free the people of Guam and establish a foothold from which we would win the Second World War.
On July 21, 1944, American forces stormed the beaches of Guam to conquer tyranny and restore the righteous promise of American sovereignty in the Pacific. As Imperial Japanese forces tried to hold their ground, they struggled to withstand the full might of the U.S. Armed Forces. After three weeks of gruesome and blood-soaked warfare in jungles, caves, and rugged hills, America triumphed—regaining control of Guam and putting U.S. forces within striking distance of ending the war in the Pacific.
As we commemorate America’s hard-earned victory in Guam, our Nation also solemnly pays tribute to the more than 1,200 Service members and more than 1,000 residents of Guam who made the ultimate sacrifice to liberate the American territory.
To this day, the liberation of Guam remains etched upon our Nation’s history as a bold reassertion of American sovereignty at a time when our future and our freedom were in peril. Under my leadership, the United States remains committed to upholding a foreign policy of peace through strength—and we will never waver in defending our interests, our citizens, our territory, and our glorious way of life from all enemies, foreign and domestic.

MIL-OSI: Ripplecoin Mining launches XRP cloud mining contracts to help investors lock in daily crypto yields

Source: GlobeNewswire (MIL-OSI)

San Francisco, California , July 21, 2025 (GLOBE NEWSWIRE) — As XRP breaks through $3.55, setting a new record high, Ripplecoin Mining announced the launch of a new XRP cloud mining service to provide cryptocurrency investors with a stable daily income channel. Users can directly start cloud mining contracts using mainstream currencies such as XRP and BTC, opening a truly “zero threshold, intelligent” asset appreciation model.

XRP hits a new high, and the crypto market ushers in a new trend in asset allocation

XRP rose by more than 36% in the past week, exceeding the increase in Bitcoin in the same period, becoming the leading asset in the rebound of altcoins. Analysts believe that the signing of the GENIUS Act, the settlement between Ripple and the SEC, and the expansion of the RLUSD stablecoin are the three core driving forces for XRP’s rise. As the market enters a new cycle where compliance and infrastructure are equally important, the strategy of “holding coins + passive income” has become the new normal for investors.

Ripplecoin Mining: Converting XRP into daily cash flow

Ripplecoin Mining is a technology platform focusing on “light mode mining” and is committed to turning idle digital assets into daily cash flow income. Its newly released XRP cloud mining service breaks the dependence of traditional mining on hardware, electricity and technology, allowing ordinary users to participate in mining at a low cost.

Platform highlights:

AI computing power scheduling: the system automatically selects the world’s best computing power node
Mining on mobile: supports iOS and Android, easy to operate
Daily income: automatic settlement, stable and visible income
Green data center: 120+ green mines deployed globally
Safety guarantee: multiple protection technologies to ensure the safety of user assets

Quickly participate in cloud mining: start daily income in three steps

Register an account: Click here to visit the official website to register and enjoy $15 free computing power experience

Recharge XRP/BTC: Use your XRP or BTC to recharge your member account and start the contract

Select a contract and start: A variety of contracts automatically settle income every day, no maintenance required
The following contract explains the potential income you can get

Contract Price	Contract Duration	Daily Earnings	Total Revenue
$100	2Days	$5	$100 + $10
$500	5Days	$6	$500 + $30
$1,300	9Days	$16	$1,300 + $158
$3,000	14Days	$42	$3,000 + $588
$7,800	21Days	$117	$7,800 + $2,457
$23,000	29Days	$396	$23,000 + $11,472

User feedback: Real praise, word-of-mouth communication

“In the past, XRP could only wait for price increases, but now the income is automatically credited every day, and I feel that my assets are “working.”
–Swiss user Daniel L.
“I don’t understand technology, but this platform is as simple as using Alipay.”
–Japanese user Miko T.

About Ripplecoin Mining

Founded in 2017 and headquartered in the UK, Ripplecoin Mining is the world’s leading AI-driven compliant cloud mining platform. The platform supports mainstream currencies including XRP, BTC, ETH, DOGE, SOL, etc., and combines green energy data centers with intelligent computing power scheduling algorithms to provide efficient, safe and sustainable mining services to more than 9.5 million users worldwide. Ripplecoin Mining is committed to lowering the threshold for mining, so that every crypto investor can easily realize the automatic appreciation of assets.

Official website address: https://ripplecoinmining.com

App download: https://ripplecoinmining.com/xml/index.html#/app

Media contact: info@ripplecoinmining.com

MIL-OSI: Ripplecoin Mining launches XRP cloud mining contracts to help investors lock in daily crypto yields

Source: GlobeNewswire (MIL-OSI)

San Francisco, California , July 21, 2025 (GLOBE NEWSWIRE) — As XRP breaks through $3.55, setting a new record high, Ripplecoin Mining announced the launch of a new XRP cloud mining service to provide cryptocurrency investors with a stable daily income channel. Users can directly start cloud mining contracts using mainstream currencies such as XRP and BTC, opening a truly “zero threshold, intelligent” asset appreciation model.

XRP hits a new high, and the crypto market ushers in a new trend in asset allocation

XRP rose by more than 36% in the past week, exceeding the increase in Bitcoin in the same period, becoming the leading asset in the rebound of altcoins. Analysts believe that the signing of the GENIUS Act, the settlement between Ripple and the SEC, and the expansion of the RLUSD stablecoin are the three core driving forces for XRP’s rise. As the market enters a new cycle where compliance and infrastructure are equally important, the strategy of “holding coins + passive income” has become the new normal for investors.

Ripplecoin Mining: Converting XRP into daily cash flow

Ripplecoin Mining is a technology platform focusing on “light mode mining” and is committed to turning idle digital assets into daily cash flow income. Its newly released XRP cloud mining service breaks the dependence of traditional mining on hardware, electricity and technology, allowing ordinary users to participate in mining at a low cost.

Platform highlights:

AI computing power scheduling: the system automatically selects the world’s best computing power node
Mining on mobile: supports iOS and Android, easy to operate
Daily income: automatic settlement, stable and visible income
Green data center: 120+ green mines deployed globally
Safety guarantee: multiple protection technologies to ensure the safety of user assets

Quickly participate in cloud mining: start daily income in three steps

Register an account: Click here to visit the official website to register and enjoy $15 free computing power experience

Recharge XRP/BTC: Use your XRP or BTC to recharge your member account and start the contract

Select a contract and start: A variety of contracts automatically settle income every day, no maintenance required
The following contract explains the potential income you can get

Contract Price	Contract Duration	Daily Earnings	Total Revenue
$100	2Days	$5	$100 + $10
$500	5Days	$6	$500 + $30
$1,300	9Days	$16	$1,300 + $158
$3,000	14Days	$42	$3,000 + $588
$7,800	21Days	$117	$7,800 + $2,457
$23,000	29Days	$396	$23,000 + $11,472

User feedback: Real praise, word-of-mouth communication

“In the past, XRP could only wait for price increases, but now the income is automatically credited every day, and I feel that my assets are “working.”
–Swiss user Daniel L.
“I don’t understand technology, but this platform is as simple as using Alipay.”
–Japanese user Miko T.

About Ripplecoin Mining

Founded in 2017 and headquartered in the UK, Ripplecoin Mining is the world’s leading AI-driven compliant cloud mining platform. The platform supports mainstream currencies including XRP, BTC, ETH, DOGE, SOL, etc., and combines green energy data centers with intelligent computing power scheduling algorithms to provide efficient, safe and sustainable mining services to more than 9.5 million users worldwide. Ripplecoin Mining is committed to lowering the threshold for mining, so that every crypto investor can easily realize the automatic appreciation of assets.

Official website address: https://ripplecoinmining.com

App download: https://ripplecoinmining.com/xml/index.html#/app

Media contact: info@ripplecoinmining.com

MIL-OSI NGOs: MEDIA + TALENT ALERT: The 30th session of the International Seabed Authority Assembly starts

Source: Greenpeace Statement –

TUESDAY 22 JULY — The future of deep sea mining will be a focus for world leaders this week as the International Seabed Authority (ISA) Assembly kicked in Kingston, Jamaica overnight (11pm AEST). Delegates, including from the Pacific and Australia, will discuss deep sea mining for the first time since The Metals Company (TMC) submitted the first-ever application to commercially mine the international seabed.

During the Council meeting which ended overnight, governments responded to the application by launching an investigation into whether mining contractors, including TMC’s subsidiaries Nauru Ocean Resources Inc. (NORI) and Tonga Offshore Mining Limited (TOML), are complying with contractual obligations to act in accordance with the international legal framework. The Council has ended with a clear signal that this industry will not get international approval anytime soon.

Rae Bainteiti, Pacific Political Coordinator at Greenpeace Australia Pacific, said from the ISA in Kingston:

“Despite industry pressure reaching fever pitch, governments have sent a clear signal that the deep sea mining industry will not get international approval any time soon.

“As more delegations arrive to attend the ISA Assembly meeting, they’ll be met by a rising tide of voices — from scientists, Pacific communities, businesses, and concerned citizens — all saying the same thing: deep sea mining is a dangerous gamble we cannot afford. For generations, Indigenous knowledge has taught us that the ocean is not just a resource—it is a sacred, living system central to Pacific identity and survival. We have always known that disturbing the seabed threatens the balance of life in ways science is only beginning to understand. The only responsible way forward at the ISA is a global moratorium.”

— ENDS —

Contacts:
Greenpeace Australia Pacific: Kimberley Bernard on [email protected] or +61 407 581 404
Greenpeace International: Sol Gosetti on [email protected] or +34664029407 (WhatsApp)

Images can be found here

TALENT AVAILABLE

Greenpeace spokespeople and Pacific allies are available in Kingston and across the Pacific region on topics including:

The threats deep sea mining poses to Pacific people, heritage and culture
The dangers of a rushed mining code and the importance of decision-making being centred around Indigenous and Pacific voices
Deep sea mining across the Pacific, various viewpoints, history and local civil society momentum to stop deep sea mining
High-level analysis and reactions to announcements and developments
Calls for Australia and Pacific governments

IN KINGSTON (GMT-5):

Raeed Ali, Pacific Community Mobiliser at Greenpeace Australia Pacific

Location: Kingston, Jamaica

From: Fiji

Rae Bainteiti, Pacific Political Coordinator at Greenpeace Australia Pacific

Location: Kingston, Jamaica

From: Kiribati

Alanna Matamaru Smith, Director of Te Ipukarea Society

Location: Kingston, Jamaica

From: Rarotonga, Cook Islands

Millicent Barty, Founder of Kastom Keepers

Location: Kingston, Jamaica

From: Solomon Islands

Louisa Casson, campaigner at Greenpeace International

Location: Kingston, Jamaica

From: London, UK

IN THE PACIFIC REGION:

Glenn Walker, Head of Nature at Greenpeace Australia Pacific (GMT+10)

Location: Sydney, Australia

Juressa Lee, Campaigner at Greenpeace Aotearoa (GMT+12)

Location: Auckland, Aotearoa-New Zealand

MIL OSI NGO –

MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

Second Quarter 2025 Highlights

Net income totaled $9.3 million, or $0.52 diluted earnings per share
Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
Net loans held for investment growth of $91.6 million, or 12% annualized
Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
Book value and tangible book value per share⁽¹⁾ increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

“Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

(1	)	Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Net Interest Income and Net Interest Margin

Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

Provision for Credit Losses

The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

Noninterest Income

Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

Noninterest Expense

Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

Income Taxes

The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025.

Balance Sheet

At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

Loan and Securities Portfolio

Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024.

As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

Deposits

Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

Credit Quality

Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025.

	For the Three Months Ended June 30, 2025								For the Six Months Ended June 30, 2025
*(dollars in thousands)*	Allowance for loan losses			Reserve for unfunded loan commitments		Allowance for credit losses			Allowance for loan losses			Reserve for unfunded loan commitments			Allowance for credit losses
Beginning balance	$	51,932		$	629	$	52,561		$	47,729		$	729		$	48,458
Provision for (reversal of) credit losses		2,387			—		2,387			9,233			(100	)		9,133
Less loans charged-off		(3,339	)		—		(3,339	)		(6,065	)		—			(6,065	)
Recoveries on loans charged-off		34			—		34			117			—			117
Ending balance	$	51,014		$	629	$	51,643		$	51,014		$	629		$	51,643

Shareholders’ Equity

At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share⁽¹⁾ increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

Dividend Announcement

The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

(1	)	Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Corporate Overview

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

Conference Call

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

Disclosure

This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands)

	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024
Assets
Cash and due from banks	$	27,338		$	25,315		$	27,747		$	26,388		$	23,313
Interest-earning deposits with financial institutions		164,514			213,508			229,998			323,002			229,456
Cash and cash equivalents		191,852			238,823			257,745			349,390			252,769
Interest-earning time deposits with financial institutions		600			600			600			600			600
Investment securities available for sale		413,142			378,188			420,190			305,666			325,582
Investment securities held to maturity		4,186			5,188			5,191			5,195			5,200
Loans held for sale		–			655			11,250			812			3,146
Loans held for investment		3,234,695			3,143,063			3,053,230			3,091,896			3,047,712
Allowance for loan losses		(51,014	)		(51,932	)		(47,729	)		(43,685	)		(41,741	)
Net loans held for investment		3,183,681			3,091,131			3,005,501			3,048,211			3,005,971
Premises and equipment, net		23,945			24,308			24,601			24,839			25,049
Federal Home Loan Bank (FHLB) stock		15,000			15,000			15,000			15,000			15,000
Cash surrender value of bank owned life insurance		61,111			60,699			60,296			59,889			59,486
Goodwill		71,498			71,498			71,498			71,498			71,498
Servicing assets		6,482			6,766			6,985			7,256			7,545
Core deposit intangibles		1,667			1,839			2,011			2,194			2,394
Right-of-use assets		25,554			26,779			28,048			29,283			30,530
Accrued interest and other assets		91,322			87,926			83,561			70,644			63,416
Total assets	$	4,090,040		$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	543,885		$	528,205		$	563,012		$	543,623		$	542,971
Savings, NOW and money market accounts		691,679			721,216			663,034			666,089			647,770
Time deposits, $250,000 and under		1,010,674			1,000,106			1,007,452			1,052,462			1,014,189
Time deposits, greater than $250,000		941,993			893,101			850,291			830,010			818,675
Total deposits		3,188,231			3,142,628			3,083,789			3,092,184			3,023,605
FHLB advances		180,000			160,000			200,000			200,000			150,000
Long-term debt, net of issuance costs		119,720			119,624			119,529			119,433			119,338
Subordinated debentures		15,265			15,211			15,156			15,102			15,047
Lease liabilities – operating leases		27,294			28,483			29,705			30,880			32,087
Accrued interest and other liabilities		41,877			33,148			36,421			23,150			16,818
Total liabilities		3,572,387			3,499,094			3,484,600			3,480,749			3,356,895
Shareholders’ equity:
Common stock		259,863			260,284			259,957			259,280			266,160
Additional paid-in capital		3,579			3,360			3,645			3,520			3,456
Retained earnings		270,152			263,885			264,460			262,946			262,518
Non-controlling interest		72			72			72			72			72
Accumulated other comprehensive loss, net		(16,013	)		(17,295	)		(20,257	)		(16,090	)		(20,915	)
Total shareholders’ equity		517,653			510,306			507,877			509,728			511,291
Total liabilities and shareholders’ equity	$	4,090,040		$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186

RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) *(In thousands, except share and per share data)*

	For the Three Months Ended						For the Six Months Ended
	June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Interest and dividend income:
Interest and fees on loans	$	47,687	$	45,621	$	45,320	$	93,308	$	90,867
Interest on interest-earning deposits		1,750		2,014		3,353		3,764		8,393
Interest on investment securities		4,213		4,136		3,631		8,349		7,242
Dividend income on FHLB stock		324		330		327		654		658
Interest on federal funds sold and other		231		235		255		466		521
Total interest and dividend income		54,205		52,336		52,886		106,541		107,681
Interest expense:
Interest on savings deposits, NOW and money market accounts		4,567		4,468		4,953		9,035		9,431
Interest on time deposits		19,250		19,084		21,850		38,334		45,172
Interest on long-term debt and subordinated debentures		1,634		1,632		1,679		3,266		3,358
Interest on FHLB advances		1,420		989		439		2,409		878
Total interest expense		26,871		26,173		28,921		53,044		58,839
Net interest income before provision for credit losses		27,334		26,163		23,965		53,497		48,842
Provision for credit losses		2,387		6,746		557		9,133		557
Net interest income after provision for credit losses		24,947		19,417		23,408		44,364		48,285
Noninterest income:
Service charges and fees		1,060		1,017		1,064		2,077		2,056
Gain on sale of loans		358		81		451		439		763
Loan servicing fees, net of amortization		541		588		579		1,129		1,168
Increase in cash surrender value of life insurance		411		403		385		814		767
Gain on OREO		—		—		292		—		1,016
Other income		6,108		206		717		6,314		1,090
Total noninterest income		8,478		2,295		3,488		10,773		6,860
Noninterest expense:
Salaries and employee benefits		11,080		10,643		9,533		21,723		19,460
Occupancy and equipment expenses		2,377		2,407		2,439		4,784		4,882
Data processing		1,713		1,602		1,466		3,315		2,886
Legal and professional		2,904		1,515		1,260		4,419		2,140
Office expenses		405		408		352		813		708
Marketing and business promotion		212		197		189		409		361
Insurance and regulatory assessments		709		730		981		1,439		1,963
Core deposit premium		172		172		201		344		402
Other expenses		921		848		703		1,769		1,291
Total noninterest expense		20,493		18,522		17,124		39,015		34,093
Income before income taxes		12,932		3,190		9,772		16,122		21,052
Income tax expense		3,599		900		2,527		4,499		5,771
Net income	$	9,333	$	2,290	$	7,245	$	11,623	$	15,281

Net income per share
Basic	$	0.53	$	0.13	$	0.39	$	0.66	$	0.83
Diluted	$	0.52	$	0.13	$	0.39	$	0.65	$	0.82
Cash dividends declared per common share	$	0.16	$	0.16	$	0.16	$	0.32	$	0.32
Weighted-average common shares outstanding
Basic		17,746,607		17,727,712		18,375,970		17,737,212		18,488,623
Diluted		17,797,735		17,770,588		18,406,897		17,784,237		18,529,299

RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	For the Three Months Ended
	June 30, 2025							March 31, 2025							June 30, 2024
	Average		Interest		Yield /			Average		Interest		Yield /			Average		Interest		Yield /
*(tax-equivalent basis, dollars in thousands)*	Balance		& Fees		Rate			Balance		& Fees		Rate			Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents⁽¹⁾	$	163,838	$	1,980		4.85	%	$	194,236	$	2,249		4.70	%	$	255,973	$	3,608		5.67	%
FHLB Stock		15,000		324		8.66	%		15,000		330		8.92	%		15,000		327		8.77	%
Securities
Available for sale⁽²⁾		399,414		4,189		4.21	%		390,178		4,113		4.28	%		318,240		3,608		4.56	%
Held to maturity⁽²⁾		5,028		48		3.83	%		5,189		49		3.83	%		5,203		46		3.56	%
Total loans⁽³⁾		3,171,570		47,687		6.03	%		3,079,224		45,621		6.01	%		3,017,050		45,320		6.04	%
Total interest-earning assets		3,754,850	$	54,228		5.79	%		3,683,827	$	52,362		5.76	%		3,611,466	$	52,909		5.89	%
Total noninterest-earning assets		254,029							260,508							240,016
Total average assets	$	4,008,879						$	3,944,335						$	3,851,482

Interest-bearing liabilities
NOW	$	66,755		368		2.21	%	$	61,222	$	321		2.13	%	$	56,081	$	276		1.98	%
Money market		482,669		3,774		3.14	%		463,443		3,625		3.17	%		431,559		3,877		3.61	%
Saving deposits		141,411		425		1.21	%		155,116		522		1.36	%		164,913		800		1.95	%
Time deposits, $250,000 and under		996,249		9,768		3.93	%		989,622		10,046		4.12	%		1,049,666		12,360		4.74	%
Time deposits, greater than $250,000		922,540		9,482		4.12	%		864,804		9,038		4.24	%		772,255		9,490		4.94	%
Total interest-bearing deposits		2,609,624		23,817		3.66	%		2,534,207		23,552		3.77	%		2,474,474		26,803		4.36	%
FHLB advances		159,286		1,420		3.58	%		176,833		989		2.27	%		150,000		439		1.18	%
Long-term debt		119,657		1,296		4.34	%		119,562		1,295		4.39	%		119,275		1,296		4.37	%
Subordinated debentures		15,230		338		8.90	%		15,175		337		9.01	%		15,011		383		10.26	%
Total interest-bearing liabilities		2,903,797		26,871		3.71	%		2,845,777		26,173		3.73	%		2,758,760		28,921		4.22	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		526,113							520,145							529,450
Other noninterest-bearing liabilities		65,278							66,151							51,087
Total noninterest-bearing liabilities		591,391							586,296							580,537
Shareholders’ equity		513,691							512,262							512,185
Total liabilities and shareholders’ equity	$	4,008,879						$	3,944,335						$	3,851,482
Net interest income / interest rate spreads			$	27,357		2.08	%			$	26,189		2.03	%			$	23,988		1.67	%
Net interest margin						2.92	%						2.88	%						2.67	%

Total cost of deposits	$	3,135,737	$	23,817		3.05	%	$	3,054,352	$	23,552		3.13	%	$	3,003,924	$	26,803		3.59	%
Total cost of funds	$	3,429,910	$	26,871		3.14	%	$	3,365,922	$	26,173		3.15	%	$	3,288,210	$	28,921		3.54	%

___________

(1	)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2	)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3	)	Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	Six Months Ended June 30,
	2025							2024
	Average		Interest		Yield /			Average		Interest		Yield /
(tax-equivalent basis, dollars in thousands)	Balance		& Fees		Rate			Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents⁽¹⁾	$	178,953	$	4,230		4.77	%	$	310,476	$	8,914		5.77	%
FHLB Stock		15,000		654		8.79	%		15,000		658		8.82	%
Securities
Available for sale⁽²⁾		394,822		8,302		4.24	%		319,127		7,197		4.54	%
Held to maturity⁽²⁾		5,108		97		3.83	%		5,205		94		3.63	%
Total loans⁽³⁾		3,125,652		93,308		6.02	%		3,017,737		90,867		6.06	%
Total interest-earning assets		3,719,535	$	106,591		5.78	%		3,667,545	$	107,730		5.91	%
Total noninterest-earning assets		257,250							243,178
Total average assets	$	3,976,785						$	3,910,723

Interest-bearing liabilities
NOW	$	64,004		689		2.17	%	$	57,513	$	574		2.01	%
Money market		473,109		7,399		3.15	%		421,655		7,403		3.53	%
Saving deposits		148,225		947		1.29	%		161,070		1,454		1.82	%
Time deposits, $250,000 and under		992,954		19,815		4.02	%		1,112,735		26,165		4.73	%
Time deposits, greater than $250,000		893,832		18,519		4.18	%		778,713		19,007		4.91	%
Total interest-bearing deposits		2,572,124		47,369		3.71	%		2,531,686		54,603		4.34	%
FHLB advances		168,011		2,409		2.89	%		150,000		878		1.18	%
Long-term debt		119,610		2,591		4.37	%		119,228		2,591		4.37	%
Subordinated debentures		15,203		675		8.95	%		14,984		767		10.29	%
Total interest-bearing liabilities		2,874,948		53,044		3.72	%		2,815,898		58,839		4.20	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		523,145							528,898
Other noninterest-bearing liabilities		65,711							53,441
Total noninterest-bearing liabilities		588,856							582,339
Shareholders’ equity		512,981							512,486
Total liabilities and shareholders’ equity	$	3,976,785						$	3,910,723
Net interest income / interest rate spreads			$	53,547		2.06	%			$	48,891		1.71	%
Net interest margin						2.90	%						2.68	%

Total cost of deposits	$	3,095,269	$	47,369		3.09	%	$	3,060,584	$	54,603		3.59	%
Total cost of funds	$	3,398,093	$	53,044		3.15	%	$	3,344,796	$	58,839		3.54	%

___________

(1	)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2	)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3	)	Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

	At or for the Three Months Ended									At or for the Six Months Ended June 30,
	June 30,			March 31,			June 30,
	2025			2025			2024			2025			2024
Per share data (common stock)
Book value	$	29.25		$	28.77		$	28.12		$	29.25		$	28.12
Tangible book value⁽¹⁾	$	25.11		$	24.63		$	24.06		$	25.11		$	24.06
Performance ratios
Return on average assets, annualized		0.93	%		0.24	%		0.76	%		0.59	%		0.79	%
Return on average shareholders’ equity, annualized		7.29	%		1.81	%		5.69	%		4.57	%		6.00	%
Return on average tangible common equity, annualized⁽¹⁾		8.50	%		2.12	%		6.65	%		5.33	%		7.01	%
Noninterest income to average assets, annualized		0.85	%		0.24	%		0.36	%		0.55	%		0.35	%
Noninterest expense to average assets, annualized		2.05	%		1.90	%		1.79	%		1.98	%		1.75	%
Yield on average earning assets		5.79	%		5.76	%		5.89	%		5.78	%		5.91	%
Yield on average loans		6.03	%		6.01	%		6.04	%		6.02	%		6.06	%
Cost of average total deposits⁽²⁾		3.05	%		3.13	%		3.59	%		3.09	%		3.59	%
Cost of average interest-bearing deposits		3.66	%		3.77	%		4.36	%		3.71	%		4.34	%
Cost of average interest-bearing liabilities		3.71	%		3.73	%		4.22	%		3.72	%		4.20	%
Net interest spread		2.08	%		2.03	%		1.67	%		2.06	%		1.71	%
Net interest margin		2.92	%		2.88	%		2.67	%		2.90	%		2.68	%
Efficiency ratio⁽³⁾		57.22	%		65.09	%		62.38	%		60.70	%		61.21	%
Common stock dividend payout ratio		30.19	%		123.08	%		41.03	%		48.48	%		38.55	%

___________

(1	)	Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
(2	)	Total deposits include non-interest bearing deposits and interest-bearing deposits.
(3	)	Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) *(Dollars in thousands)*

	At or for the quarter ended
	June 30,			March 31,			June 30,
	2025			2025			2024
Credit Quality Data:
Special mention loans	$	91,317		$	64,279		$	19,520
Special mention loans to total loans HFI		2.82	%		2.05	%		0.64	%
Substandard loans	$	91,019		$	76,372		$	63,076
Substandard loans to total loans HFI		2.81	%		2.43	%		2.07	%
Loans 30-89 days past due, excluding nonperforming loans	$	18,003		$	5,927		$	11,270
Loans 30-89 days past due, excluding nonperforming loans, to total loans		0.56	%		0.19	%		0.37	%
Nonperforming loans	$	56,817		$	60,380		$	54,589
OREO	$	4,170		$	4,170		$	—
Nonperforming assets	$	60,987		$	64,550		$	54,589
Nonperforming loans to total loans HFI		1.76	%		1.92	%		1.79	%
Nonperforming assets to total assets		1.49	%		1.61	%		1.41	%

Allowance for loan losses	$	51,014		$	51,932		$	41,741
Allowance for loan losses to total loans HFI		1.58	%		1.65	%		1.37	%
Allowance for loan losses to nonperforming loans HFI		89.79	%		86.01	%		76.46	%
Net charge-offs	$	3,305		$	2,643		$	551
Net charge-offs to average loans		0.42	%		0.35	%		0.07	%

Capitalratios⁽¹⁾
Tangible common equity to tangible assets⁽²⁾		11.07	%		11.10	%		11.53	%
Tier 1 leverage ratio		12.04	%		12.07	%		12.48	%
Tier 1 common capital to risk-weighted assets		17.61	%		17.87	%		18.89	%
Tier 1 capital to risk-weighted assets		18.17	%		18.45	%		19.50	%
Total capital to risk-weighted assets		24.00	%		24.42	%		25.67	%

___________

(1	)	June 30, 2025 capital ratios are preliminary.
(2	)	Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

Loan Portfolio Detail	As of June 30, 2025						As of March 31, 2025						As of June 30, 2024
*(dollars in thousands)*	$			%			$			%			$			%
Loans:
Commercial and industrial	$	138,263			4.3	%	$	135,538			4.3	%	$	126,649			4.2	%
SBA		55,984			1.7	%		50,651			1.6	%		50,323			1.7	%
Construction and land development		157,970			4.9	%		158,883			5.1	%		202,459			6.6	%
Commercial real estate⁽¹⁾		1,273,442			39.4	%		1,245,402			39.6	%		1,190,207			39.1	%
Single-family residential mortgages		1,603,114			49.6	%		1,545,822			49.2	%		1,467,802			48.2	%
Other loans		5,922			0.1	%		6,767			0.2	%		10,272			0.2	%
Total loans	$	3,234,695			100.0	%	$	3,143,063			100.0	%	$	3,047,712			100.0	%
Allowance for loan losses		(51,014	)					(51,932	)					(41,741	)
Total loans, net	$	3,183,681					$	3,091,131					$	3,005,971

___________

(1

)

Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.

Deposits	As of June 30, 2025					As of March 31, 2025					As of June 30, 2024
*(dollars in thousands)*	$		%			$		%			$		%
Deposits:
Noninterest-bearing demand	$	543,885		17.1	%	$	528,205		16.8	%	$	542,971		18.0	%
Savings, NOW and money market accounts		691,679		21.7	%		721,216		22.9	%		647,770		21.4	%
Time deposits, $250,000 and under		848,379		26.6	%		863,962		27.5	%		921,712		30.5	%
Time deposits, greater than $250,000		920,481		28.8	%		870,708		27.8	%		790,478		26.1	%
Wholesale deposits⁽¹⁾		183,807		5.8	%		158,537		5.0	%		120,674		4.0	%
Total deposits	$	3,188,231		100.0	%	$	3,142,628		100.0	%	$	3,023,605		100.0	%

___________

(1

)

Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

Non-GAAP Reconciliations

Tangible Book Value Reconciliations

Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.


*(dollars in thousands, except share and per share data)*	June 30, 2025			March 31, 2025			June 30, 2024
Tangible common equity:
Total shareholders’ equity	$	517,653		$	510,306		$	511,291
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,667	)		(1,839	)		(2,394	)
Tangible common equity	$	444,488		$	436,969		$	437,399
Tangible assets:
Total assets-GAAP	$	4,090,040		$	4,009,400		$	3,868,186
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,667	)		(1,839	)		(2,394	)
Tangible assets	$	4,016,875		$	3,936,063		$	3,794,294
Common shares outstanding		17,699,091			17,738,628			18,182,154
Common equity to assets ratio		12.66	%		12.73	%		13.22	%
Tangible common equity to tangible assets ratio		11.07	%		11.10	%		11.53	%
Book value per share	$	29.25		$	28.77		$	28.12
Tangible book value per share	$	25.11		$	24.63		$	24.06

Return on Average Tangible Common Equity

Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

	Three Months Ended									Six Months Ended June 30,
*(dollars in thousands)*	June 30, 2025			March 31, 2025			June 30, 2024			2025			2024
Net income available to common shareholders	$	9,333		$	2,290		$	7,245		$	11,623		$	15,281
Average shareholders’ equity		513,691			512,262			512,185			512,981			512,486
Adjustments:
Average goodwill		(71,498	)		(71,498	)		(71,498	)		(71,498	)		(71,498	)
Average core deposit intangible		(1,780	)		(1,951	)		(2,525	)		(1,865	)		(2,625	)
Adjusted average tangible common equity	$	440,413		$	438,813		$	438,162		$	439,618		$	438,363
Return on average common equity, annualized		7.29	%		1.81	%		5.69	%		4.57	%		6.00	%
Return on average tangible common equity, annualized		8.50	%		2.12	%		6.65	%		5.33	%		7.01	%

MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

Second Quarter 2025 Highlights

Net income totaled $9.3 million, or $0.52 diluted earnings per share
Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
Net loans held for investment growth of $91.6 million, or 12% annualized
Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
Book value and tangible book value per share⁽¹⁾ increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

“Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

(1	)	Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Net Interest Income and Net Interest Margin

Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

Provision for Credit Losses

The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

Noninterest Income

Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

Noninterest Expense

Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

Income Taxes

The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025.

Balance Sheet

At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

Loan and Securities Portfolio

Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024.

As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

Deposits

Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

Credit Quality

Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025.

	For the Three Months Ended June 30, 2025								For the Six Months Ended June 30, 2025
*(dollars in thousands)*	Allowance for loan losses			Reserve for unfunded loan commitments		Allowance for credit losses			Allowance for loan losses			Reserve for unfunded loan commitments			Allowance for credit losses
Beginning balance	$	51,932		$	629	$	52,561		$	47,729		$	729		$	48,458
Provision for (reversal of) credit losses		2,387			—		2,387			9,233			(100	)		9,133
Less loans charged-off		(3,339	)		—		(3,339	)		(6,065	)		—			(6,065	)
Recoveries on loans charged-off		34			—		34			117			—			117
Ending balance	$	51,014		$	629	$	51,643		$	51,014		$	629		$	51,643

Shareholders’ Equity

At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share⁽¹⁾ increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

Dividend Announcement

The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

(1	)	Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Corporate Overview

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

Conference Call

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

Disclosure

This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands)

	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024
Assets
Cash and due from banks	$	27,338		$	25,315		$	27,747		$	26,388		$	23,313
Interest-earning deposits with financial institutions		164,514			213,508			229,998			323,002			229,456
Cash and cash equivalents		191,852			238,823			257,745			349,390			252,769
Interest-earning time deposits with financial institutions		600			600			600			600			600
Investment securities available for sale		413,142			378,188			420,190			305,666			325,582
Investment securities held to maturity		4,186			5,188			5,191			5,195			5,200
Loans held for sale		–			655			11,250			812			3,146
Loans held for investment		3,234,695			3,143,063			3,053,230			3,091,896			3,047,712
Allowance for loan losses		(51,014	)		(51,932	)		(47,729	)		(43,685	)		(41,741	)
Net loans held for investment		3,183,681			3,091,131			3,005,501			3,048,211			3,005,971
Premises and equipment, net		23,945			24,308			24,601			24,839			25,049
Federal Home Loan Bank (FHLB) stock		15,000			15,000			15,000			15,000			15,000
Cash surrender value of bank owned life insurance		61,111			60,699			60,296			59,889			59,486
Goodwill		71,498			71,498			71,498			71,498			71,498
Servicing assets		6,482			6,766			6,985			7,256			7,545
Core deposit intangibles		1,667			1,839			2,011			2,194			2,394
Right-of-use assets		25,554			26,779			28,048			29,283			30,530
Accrued interest and other assets		91,322			87,926			83,561			70,644			63,416
Total assets	$	4,090,040		$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	543,885		$	528,205		$	563,012		$	543,623		$	542,971
Savings, NOW and money market accounts		691,679			721,216			663,034			666,089			647,770
Time deposits, $250,000 and under		1,010,674			1,000,106			1,007,452			1,052,462			1,014,189
Time deposits, greater than $250,000		941,993			893,101			850,291			830,010			818,675
Total deposits		3,188,231			3,142,628			3,083,789			3,092,184			3,023,605
FHLB advances		180,000			160,000			200,000			200,000			150,000
Long-term debt, net of issuance costs		119,720			119,624			119,529			119,433			119,338
Subordinated debentures		15,265			15,211			15,156			15,102			15,047
Lease liabilities – operating leases		27,294			28,483			29,705			30,880			32,087
Accrued interest and other liabilities		41,877			33,148			36,421			23,150			16,818
Total liabilities		3,572,387			3,499,094			3,484,600			3,480,749			3,356,895
Shareholders’ equity:
Common stock		259,863			260,284			259,957			259,280			266,160
Additional paid-in capital		3,579			3,360			3,645			3,520			3,456
Retained earnings		270,152			263,885			264,460			262,946			262,518
Non-controlling interest		72			72			72			72			72
Accumulated other comprehensive loss, net		(16,013	)		(17,295	)		(20,257	)		(16,090	)		(20,915	)
Total shareholders’ equity		517,653			510,306			507,877			509,728			511,291
Total liabilities and shareholders’ equity	$	4,090,040		$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186

RBB BANCORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) *(In thousands, except share and per share data)*

	For the Three Months Ended						For the Six Months Ended
	June 30, 2025		March 31, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Interest and dividend income:
Interest and fees on loans	$	47,687	$	45,621	$	45,320	$	93,308	$	90,867
Interest on interest-earning deposits		1,750		2,014		3,353		3,764		8,393
Interest on investment securities		4,213		4,136		3,631		8,349		7,242
Dividend income on FHLB stock		324		330		327		654		658
Interest on federal funds sold and other		231		235		255		466		521
Total interest and dividend income		54,205		52,336		52,886		106,541		107,681
Interest expense:
Interest on savings deposits, NOW and money market accounts		4,567		4,468		4,953		9,035		9,431
Interest on time deposits		19,250		19,084		21,850		38,334		45,172
Interest on long-term debt and subordinated debentures		1,634		1,632		1,679		3,266		3,358
Interest on FHLB advances		1,420		989		439		2,409		878
Total interest expense		26,871		26,173		28,921		53,044		58,839
Net interest income before provision for credit losses		27,334		26,163		23,965		53,497		48,842
Provision for credit losses		2,387		6,746		557		9,133		557
Net interest income after provision for credit losses		24,947		19,417		23,408		44,364		48,285
Noninterest income:
Service charges and fees		1,060		1,017		1,064		2,077		2,056
Gain on sale of loans		358		81		451		439		763
Loan servicing fees, net of amortization		541		588		579		1,129		1,168
Increase in cash surrender value of life insurance		411		403		385		814		767
Gain on OREO		—		—		292		—		1,016
Other income		6,108		206		717		6,314		1,090
Total noninterest income		8,478		2,295		3,488		10,773		6,860
Noninterest expense:
Salaries and employee benefits		11,080		10,643		9,533		21,723		19,460
Occupancy and equipment expenses		2,377		2,407		2,439		4,784		4,882
Data processing		1,713		1,602		1,466		3,315		2,886
Legal and professional		2,904		1,515		1,260		4,419		2,140
Office expenses		405		408		352		813		708
Marketing and business promotion		212		197		189		409		361
Insurance and regulatory assessments		709		730		981		1,439		1,963
Core deposit premium		172		172		201		344		402
Other expenses		921		848		703		1,769		1,291
Total noninterest expense		20,493		18,522		17,124		39,015		34,093
Income before income taxes		12,932		3,190		9,772		16,122		21,052
Income tax expense		3,599		900		2,527		4,499		5,771
Net income	$	9,333	$	2,290	$	7,245	$	11,623	$	15,281

Net income per share
Basic	$	0.53	$	0.13	$	0.39	$	0.66	$	0.83
Diluted	$	0.52	$	0.13	$	0.39	$	0.65	$	0.82
Cash dividends declared per common share	$	0.16	$	0.16	$	0.16	$	0.32	$	0.32
Weighted-average common shares outstanding
Basic		17,746,607		17,727,712		18,375,970		17,737,212		18,488,623
Diluted		17,797,735		17,770,588		18,406,897		17,784,237		18,529,299

RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	For the Three Months Ended
	June 30, 2025							March 31, 2025							June 30, 2024
	Average		Interest		Yield /			Average		Interest		Yield /			Average		Interest		Yield /
*(tax-equivalent basis, dollars in thousands)*	Balance		& Fees		Rate			Balance		& Fees		Rate			Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents⁽¹⁾	$	163,838	$	1,980		4.85	%	$	194,236	$	2,249		4.70	%	$	255,973	$	3,608		5.67	%
FHLB Stock		15,000		324		8.66	%		15,000		330		8.92	%		15,000		327		8.77	%
Securities
Available for sale⁽²⁾		399,414		4,189		4.21	%		390,178		4,113		4.28	%		318,240		3,608		4.56	%
Held to maturity⁽²⁾		5,028		48		3.83	%		5,189		49		3.83	%		5,203		46		3.56	%
Total loans⁽³⁾		3,171,570		47,687		6.03	%		3,079,224		45,621		6.01	%		3,017,050		45,320		6.04	%
Total interest-earning assets		3,754,850	$	54,228		5.79	%		3,683,827	$	52,362		5.76	%		3,611,466	$	52,909		5.89	%
Total noninterest-earning assets		254,029							260,508							240,016
Total average assets	$	4,008,879						$	3,944,335						$	3,851,482

Interest-bearing liabilities
NOW	$	66,755		368		2.21	%	$	61,222	$	321		2.13	%	$	56,081	$	276		1.98	%
Money market		482,669		3,774		3.14	%		463,443		3,625		3.17	%		431,559		3,877		3.61	%
Saving deposits		141,411		425		1.21	%		155,116		522		1.36	%		164,913		800		1.95	%
Time deposits, $250,000 and under		996,249		9,768		3.93	%		989,622		10,046		4.12	%		1,049,666		12,360		4.74	%
Time deposits, greater than $250,000		922,540		9,482		4.12	%		864,804		9,038		4.24	%		772,255		9,490		4.94	%
Total interest-bearing deposits		2,609,624		23,817		3.66	%		2,534,207		23,552		3.77	%		2,474,474		26,803		4.36	%
FHLB advances		159,286		1,420		3.58	%		176,833		989		2.27	%		150,000		439		1.18	%
Long-term debt		119,657		1,296		4.34	%		119,562		1,295		4.39	%		119,275		1,296		4.37	%
Subordinated debentures		15,230		338		8.90	%		15,175		337		9.01	%		15,011		383		10.26	%
Total interest-bearing liabilities		2,903,797		26,871		3.71	%		2,845,777		26,173		3.73	%		2,758,760		28,921		4.22	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		526,113							520,145							529,450
Other noninterest-bearing liabilities		65,278							66,151							51,087
Total noninterest-bearing liabilities		591,391							586,296							580,537
Shareholders’ equity		513,691							512,262							512,185
Total liabilities and shareholders’ equity	$	4,008,879						$	3,944,335						$	3,851,482
Net interest income / interest rate spreads			$	27,357		2.08	%			$	26,189		2.03	%			$	23,988		1.67	%
Net interest margin						2.92	%						2.88	%						2.67	%

Total cost of deposits	$	3,135,737	$	23,817		3.05	%	$	3,054,352	$	23,552		3.13	%	$	3,003,924	$	26,803		3.59	%
Total cost of funds	$	3,429,910	$	26,871		3.14	%	$	3,365,922	$	26,173		3.15	%	$	3,288,210	$	28,921		3.54	%

___________

(1	)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2	)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3	)	Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES AVERAGE BALANCE SHEET AND NET INTEREST INCOME (Unaudited)

	Six Months Ended June 30,
	2025							2024
	Average		Interest		Yield /			Average		Interest		Yield /
(tax-equivalent basis, dollars in thousands)	Balance		& Fees		Rate			Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents⁽¹⁾	$	178,953	$	4,230		4.77	%	$	310,476	$	8,914		5.77	%
FHLB Stock		15,000		654		8.79	%		15,000		658		8.82	%
Securities
Available for sale⁽²⁾		394,822		8,302		4.24	%		319,127		7,197		4.54	%
Held to maturity⁽²⁾		5,108		97		3.83	%		5,205		94		3.63	%
Total loans⁽³⁾		3,125,652		93,308		6.02	%		3,017,737		90,867		6.06	%
Total interest-earning assets		3,719,535	$	106,591		5.78	%		3,667,545	$	107,730		5.91	%
Total noninterest-earning assets		257,250							243,178
Total average assets	$	3,976,785						$	3,910,723

Interest-bearing liabilities
NOW	$	64,004		689		2.17	%	$	57,513	$	574		2.01	%
Money market		473,109		7,399		3.15	%		421,655		7,403		3.53	%
Saving deposits		148,225		947		1.29	%		161,070		1,454		1.82	%
Time deposits, $250,000 and under		992,954		19,815		4.02	%		1,112,735		26,165		4.73	%
Time deposits, greater than $250,000		893,832		18,519		4.18	%		778,713		19,007		4.91	%
Total interest-bearing deposits		2,572,124		47,369		3.71	%		2,531,686		54,603		4.34	%
FHLB advances		168,011		2,409		2.89	%		150,000		878		1.18	%
Long-term debt		119,610		2,591		4.37	%		119,228		2,591		4.37	%
Subordinated debentures		15,203		675		8.95	%		14,984		767		10.29	%
Total interest-bearing liabilities		2,874,948		53,044		3.72	%		2,815,898		58,839		4.20	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		523,145							528,898
Other noninterest-bearing liabilities		65,711							53,441
Total noninterest-bearing liabilities		588,856							582,339
Shareholders’ equity		512,981							512,486
Total liabilities and shareholders’ equity	$	3,976,785						$	3,910,723
Net interest income / interest rate spreads			$	53,547		2.06	%			$	48,891		1.71	%
Net interest margin						2.90	%						2.68	%

Total cost of deposits	$	3,095,269	$	47,369		3.09	%	$	3,060,584	$	54,603		3.59	%
Total cost of funds	$	3,398,093	$	53,044		3.15	%	$	3,344,796	$	58,839		3.54	%

___________

(1	)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2	)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3	)	Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

	At or for the Three Months Ended									At or for the Six Months Ended June 30,
	June 30,			March 31,			June 30,
	2025			2025			2024			2025			2024
Per share data (common stock)
Book value	$	29.25		$	28.77		$	28.12		$	29.25		$	28.12
Tangible book value⁽¹⁾	$	25.11		$	24.63		$	24.06		$	25.11		$	24.06
Performance ratios
Return on average assets, annualized		0.93	%		0.24	%		0.76	%		0.59	%		0.79	%
Return on average shareholders’ equity, annualized		7.29	%		1.81	%		5.69	%		4.57	%		6.00	%
Return on average tangible common equity, annualized⁽¹⁾		8.50	%		2.12	%		6.65	%		5.33	%		7.01	%
Noninterest income to average assets, annualized		0.85	%		0.24	%		0.36	%		0.55	%		0.35	%
Noninterest expense to average assets, annualized		2.05	%		1.90	%		1.79	%		1.98	%		1.75	%
Yield on average earning assets		5.79	%		5.76	%		5.89	%		5.78	%		5.91	%
Yield on average loans		6.03	%		6.01	%		6.04	%		6.02	%		6.06	%
Cost of average total deposits⁽²⁾		3.05	%		3.13	%		3.59	%		3.09	%		3.59	%
Cost of average interest-bearing deposits		3.66	%		3.77	%		4.36	%		3.71	%		4.34	%
Cost of average interest-bearing liabilities		3.71	%		3.73	%		4.22	%		3.72	%		4.20	%
Net interest spread		2.08	%		2.03	%		1.67	%		2.06	%		1.71	%
Net interest margin		2.92	%		2.88	%		2.67	%		2.90	%		2.68	%
Efficiency ratio⁽³⁾		57.22	%		65.09	%		62.38	%		60.70	%		61.21	%
Common stock dividend payout ratio		30.19	%		123.08	%		41.03	%		48.48	%		38.55	%

___________

(1	)	Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
(2	)	Total deposits include non-interest bearing deposits and interest-bearing deposits.
(3	)	Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited) *(Dollars in thousands)*

	At or for the quarter ended
	June 30,			March 31,			June 30,
	2025			2025			2024
Credit Quality Data:
Special mention loans	$	91,317		$	64,279		$	19,520
Special mention loans to total loans HFI		2.82	%		2.05	%		0.64	%
Substandard loans	$	91,019		$	76,372		$	63,076
Substandard loans to total loans HFI		2.81	%		2.43	%		2.07	%
Loans 30-89 days past due, excluding nonperforming loans	$	18,003		$	5,927		$	11,270
Loans 30-89 days past due, excluding nonperforming loans, to total loans		0.56	%		0.19	%		0.37	%
Nonperforming loans	$	56,817		$	60,380		$	54,589
OREO	$	4,170		$	4,170		$	—
Nonperforming assets	$	60,987		$	64,550		$	54,589
Nonperforming loans to total loans HFI		1.76	%		1.92	%		1.79	%
Nonperforming assets to total assets		1.49	%		1.61	%		1.41	%

Allowance for loan losses	$	51,014		$	51,932		$	41,741
Allowance for loan losses to total loans HFI		1.58	%		1.65	%		1.37	%
Allowance for loan losses to nonperforming loans HFI		89.79	%		86.01	%		76.46	%
Net charge-offs	$	3,305		$	2,643		$	551
Net charge-offs to average loans		0.42	%		0.35	%		0.07	%

Capitalratios⁽¹⁾
Tangible common equity to tangible assets⁽²⁾		11.07	%		11.10	%		11.53	%
Tier 1 leverage ratio		12.04	%		12.07	%		12.48	%
Tier 1 common capital to risk-weighted assets		17.61	%		17.87	%		18.89	%
Tier 1 capital to risk-weighted assets		18.17	%		18.45	%		19.50	%
Total capital to risk-weighted assets		24.00	%		24.42	%		25.67	%

___________

(1	)	June 30, 2025 capital ratios are preliminary.
(2	)	Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.

RBB BANCORP AND SUBSIDIARIES SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

Loan Portfolio Detail	As of June 30, 2025						As of March 31, 2025						As of June 30, 2024
*(dollars in thousands)*	$			%			$			%			$			%
Loans:
Commercial and industrial	$	138,263			4.3	%	$	135,538			4.3	%	$	126,649			4.2	%
SBA		55,984			1.7	%		50,651			1.6	%		50,323			1.7	%
Construction and land development		157,970			4.9	%		158,883			5.1	%		202,459			6.6	%
Commercial real estate⁽¹⁾		1,273,442			39.4	%		1,245,402			39.6	%		1,190,207			39.1	%
Single-family residential mortgages		1,603,114			49.6	%		1,545,822			49.2	%		1,467,802			48.2	%
Other loans		5,922			0.1	%		6,767			0.2	%		10,272			0.2	%
Total loans	$	3,234,695			100.0	%	$	3,143,063			100.0	%	$	3,047,712			100.0	%
Allowance for loan losses		(51,014	)					(51,932	)					(41,741	)
Total loans, net	$	3,183,681					$	3,091,131					$	3,005,971

___________

(1

)

Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.

Deposits	As of June 30, 2025					As of March 31, 2025					As of June 30, 2024
*(dollars in thousands)*	$		%			$		%			$		%
Deposits:
Noninterest-bearing demand	$	543,885		17.1	%	$	528,205		16.8	%	$	542,971		18.0	%
Savings, NOW and money market accounts		691,679		21.7	%		721,216		22.9	%		647,770		21.4	%
Time deposits, $250,000 and under		848,379		26.6	%		863,962		27.5	%		921,712		30.5	%
Time deposits, greater than $250,000		920,481		28.8	%		870,708		27.8	%		790,478		26.1	%
Wholesale deposits⁽¹⁾		183,807		5.8	%		158,537		5.0	%		120,674		4.0	%
Total deposits	$	3,188,231		100.0	%	$	3,142,628		100.0	%	$	3,023,605		100.0	%

___________

(1

)

Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

Non-GAAP Reconciliations

Tangible Book Value Reconciliations

Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.


*(dollars in thousands, except share and per share data)*	June 30, 2025			March 31, 2025			June 30, 2024
Tangible common equity:
Total shareholders’ equity	$	517,653		$	510,306		$	511,291
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,667	)		(1,839	)		(2,394	)
Tangible common equity	$	444,488		$	436,969		$	437,399
Tangible assets:
Total assets-GAAP	$	4,090,040		$	4,009,400		$	3,868,186
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,667	)		(1,839	)		(2,394	)
Tangible assets	$	4,016,875		$	3,936,063		$	3,794,294
Common shares outstanding		17,699,091			17,738,628			18,182,154
Common equity to assets ratio		12.66	%		12.73	%		13.22	%
Tangible common equity to tangible assets ratio		11.07	%		11.10	%		11.53	%
Book value per share	$	29.25		$	28.77		$	28.12
Tangible book value per share	$	25.11		$	24.63		$	24.06

Return on Average Tangible Common Equity

Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

	Three Months Ended									Six Months Ended June 30,
*(dollars in thousands)*	June 30, 2025			March 31, 2025			June 30, 2024			2025			2024
Net income available to common shareholders	$	9,333		$	2,290		$	7,245		$	11,623		$	15,281
Average shareholders’ equity		513,691			512,262			512,185			512,981			512,486
Adjustments:
Average goodwill		(71,498	)		(71,498	)		(71,498	)		(71,498	)		(71,498	)
Average core deposit intangible		(1,780	)		(1,951	)		(2,525	)		(1,865	)		(2,625	)
Adjusted average tangible common equity	$	440,413		$	438,813		$	438,162		$	439,618		$	438,363
Return on average common equity, annualized		7.29	%		1.81	%		5.69	%		4.57	%		6.00	%
Return on average tangible common equity, annualized		8.50	%		2.12	%		6.65	%		5.33	%		7.01	%

MIL-OSI: CTRL Group Limited Announces Name Change

Source: GlobeNewswire (MIL-OSI)

Kowloon, Hong Kong, July 21, 2025 (GLOBE NEWSWIRE) — CTRL Group Limited (the “Company”) (Nasdaq CM: MCTR), an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market, today announced, subject to and conditional upon the approval of the Registrar of Companies in the British Virgin Islands (the “Registrar”), it will change its name from CTRL Group Ltd. to TJGC Group.

The name change will become effective upon the issuance of a Certificate of Change of Name by the Registrar and the corresponding update in the Register of Companies.

The Company’s ordinary shares will continue to be listed and traded on the Nasdaq Capital Market under the current ticker symbol “MCTR”. The CUSIP number for the Company’s ordinary shares will remain unchanged.

About CTRL Group Limited

The Company’s wholly owned subsidiary and operating company, CTRL Group Limited, is an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market. The Company provides services to mobile game developers, principally developers of mobile gaming applications or “apps” that gamers download from the developers’ websites and applicable mobile operating systems, such as Apple Store or Android Google Play Store. The market for specialized mobile game advertising in Hong Kong is occupied by a few market players who compete with one another. The Company’s prominent market share and proven track record are indicative of its audience reach and engagement, as well as its relevance to advertisers in Hong Kong markets. For more information, please visit the Company’s website: https://www.ctrl-media.com/

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Investor Relations
CTRL Group Limited
Phone: +852-3107-4887
Email: project@ctrl-media.com