NewzIntel.com

Category: Banking

  • MIL-OSI Security: U.S. Attorney Announces Prosecution of Title 50 Charges Following Joint Visit to New Mexico National Defense Area

    Source: Office of United States Attorneys

    ALBUQUERQUE – U.S. Attorney Ryan Ellison today announced the filing of 82 new Title 50 charges for unauthorized entry into the newly-designated National Defense Area along New Mexico’s southern border, following a high-level visit with Defense Secretary Pete Hegseth and U.S. Border Patrol Chief Michael Banks.

    The charges mark the first large-scale use of a novel criminal statute targeting unauthorized entry onto federally protected military defense property, a move enabled by the recent transfer of control over a 170-mile stretch of borderland-known as the Roosevelt Reservation-from the Department of the Interior to the Department of Defense. This corridor, now treated as an extension of U.S. Army Garrison Fort Huachuca, is subject to enhanced military patrols and surveillance, with U.S. troops authorized to temporarily detain and transfer individuals to federal law enforcement for prosecution.

    The newly filed Title 50 charges carry potential penalties of up to one year in prison, supplementing existing immigration-related offenses. The Justice Department’s actions underscore a coordinated federal response to border security, leveraging expanded military and prosecutorial authority to deter unlawful crossings.

    “The Department of Justice will work hand in glove with the Department of Defense and Border Patrol to gain 100% operational control of New Mexico’s 170-mile border with Mexico,” U.S. Attorney Ryan Ellison reiterated following the meeting. “Trespassers into the National Defense Area will be Federally prosecuted—no exceptions.”

    (left to right) Defense Secretary Hegseth, U.S. Border Patrol Chief Banks, USA Ellison

    The U.S. Attorney’s Office for the District of New Mexico will continue to aggressively prosecute all violations within the National Defense Area, in close partnership with the Department of Defense and U.S. Customs and Border Protection.

    MIL Security OSI –

  • MIL-OSI Economics: Special Windows 365 offer helps secure organizations against changing conditions

    Source: Microsoft

    Headline: Special Windows 365 offer helps secure organizations against changing conditions

    In these uncertain times, marked by fluctuating economic conditions and supply chain concerns, businesses face numerous challenges. Amidst these complexities, it is even more important to adopt new technologies in the age of AI to stay competitive and secure. According to the 2025 Work Trend Index report, 82% of leaders say this is a pivotal year to rethink key aspects of strategy and operations.

    Another critical aspect that organizations must address is the impending end of support for Windows 10 in October 2025. As the deadline approaches, it is essential for companies to plan and strategize effectively to ensure streamlined operations and continued security.

    Windows 365 is your solution for a secure and reliable AI and cloud-powered future. In our ongoing commitment to support our commercial customers during these changing times, we’re excited to announce that starting today, Microsoft will be offering a 20% discount on all Windows 365 plans to new customers.*

    Cloud security and Windows 365 special offer: Rethinking IT strategies

    We want companies to be well-prepared to transition to Windows 11 with the most modern and secure computing experience possible. When moving to Windows 11, companies can check if their current Windows 10 PCs are eligible for a free upgrade to Windows 11, purchase a new and more secure Windows 11 PC, or move to the cloud with Windows 365. Learn more about preparing for the end of Windows 10 support.

    In the current economic climate, when businesses are looking for reliable and affordable alternatives to refreshing physical devices or extending the life of existing PCs, Windows 365 is a compelling option. It delivers a highly secure Windows 11 experience to your Cloud PC – your Windows in the cloud – that can be accessed from anywhere.  Built according to Zero Trust principles, Window 365 continuously verifies the identity and trustworthiness of every user, device and network attempting to access organizational resources so you can be confident your organization’s data is secure and protected against evolving threats. With the power of the cloud, Windows 365 provides the flexibility to access your Windows environment from anywhere, on any device. According to Gartner® analyst Stuart Downes, “Today, 95% of work could be cost-effectively performed using virtual desktops compared to 40% in 2019.”**

    Additionally, transitioning to Windows 365 can help reduce your carbon footprint and contribute to sustainability goals.  Microsoft commissioned a research study examining the potential for carbon emissions reductions and energy cost savings with Windows 365 and Azure Virtual Desktop. The study found that for high-intensity workloads, using Azure Virtual Desktop or Windows 365 on low-medium intensity physical machines results in lower emissions compared to using powerful laptops. Visit aka.ms/BeGreenWithWindowsCloud to learn more about how Windows 365 can help further your environmental goals.

    As the end of support for Windows 10 approaches on Oct. 14, 2025, organizations have an opportunity to rethink their IT strategies. Windows 365 is not only a cost-effective alternative to replacing physical devices, but Extended Security Updates (ESUs) are also available at no cost to Windows 365 customers. This means that Windows 10 PCs connecting to Windows 365 will continue to receive critical security updates beyond the official support deadline while workers enjoy the enhanced productivity and improved user experience of Windows 11 streamed from the Microsoft Cloud.

    Customers paving the way with Windows 365

    Windows 365 is a great option across various industries and use cases – from information workers who need access to Windows all the time to frontline workers that may only need it during their shift.

    Crocs, the popular shoe company, migrated to Windows 365 when looking for a solution that would not only ease their financial burden, but also improve the experience for administrators and employees. “After we fully cut everyone over to Windows 365, there was about $250,000 a year in cost savings alone, not to mention we were able to support our users more efficiently and effectively. It was a paradigm shift for the business,” said Scott Czarnecki, Crocs’ Senior Director of Global IT Infrastructure.

    “It was a paradigm shift for the business”

    – Scott Czarnecki, Crocs

    A global leader in leisure and corporate travel services, dnata Travel Group chose Windows 365 to provide secure access to corporate systems for their mobile workforce. “We performed several feasibility studies and ultimately landed on Windows 365 as the best choice to create a secure environment for Cloud PCs and enable employees to work from any device or location,” stated Sean Kelly, Vice President of Information Technology at dnata.

    By transitioning to Windows 365, it’s also possible to reduce your carbon footprint and contribute to sustainability goals. The Microsoft cloud infrastructure reduces the need for local hardware, for potential lower energy consumption and reduced electronic waste. Hamburg Commercial Bank first deployed Windows 365 to support hybrid work and now is making plans to roll out the solution more widely for a variety of reasons, including sustainability improvements, “The plan for the future is to go more and more into Windows 365. It’s of utmost importance for us at Hamburg Commercial Bank to pay greater attention to sustainability in everything we do. We expect that using Windows 365 will help us reduce our hardware needs and electricity consumption,” said Thorsten Lüdtke, Head of IT Infrastructure at Hamburg Commercial Bank.

    Embrace the future with Windows 365

    The future of end-user computing is AI and cloud, and Windows 365 is one of the leaders in this transformation. By adopting Windows 365, customers are enhancing productivity, reducing IT infrastructure costs, saving money on PC lifecycle management and improving security, while increasing their agility and resiliency. These are critical steps to prepare all organizations for the AI-powered future. Read the Total Economic Impact study conducted by Forrester Consulting to learn more about the transformative impact of cloud solutions like Windows 365 at aka.ms/WCTEI2025info.

    Take advantage of the promotional offer* and position your business for future success with Windows 365. The 20% discount on all Windows 365 plans for new customers underscores Microsoft’s unwavering commitment to supporting our customers during these uncertain times. Transition to Windows 365 and unlock the full potential of the cloud, enhanced security, predictable costs and operational efficiency that will propel your organization forward.

    * NOTICE: Microsoft reserves the right to discontinue this promotion, and to modify these policies and the promotion’s terms and conditions at any time.

    This offer runs from May 1, 2025 to Oct. 31, 2025 and is for customers not currently subscribing to Windows 365. The discount is good for either the remainder of the Enterprise Agreement contract period or the first year of the customer’s Windows 365 subscription, whichever is shorter. Transactions must be processed through Microsoft’s operations center before 11:00 p.m. Pacific Time on Oct. 31, 2025. This offer is non-transferable and cannot be combined with any other offer or discount on Windows 365. This offer is only available once per customer. Taxes, if any, are the sole responsibility of the recipient.

    ** Source: Gartner Conference Presentations: Gartner, Digital Workplace Summit Presentation, Assessing the Use and Future of Virtual Desktop Infrastructure and DaaS, Stuart Downes, 12-13 March 2025

    GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

    MIL OSI Economics –

  • MIL-OSI Security: Owner of Kansas City Health Care Company Sentenced for Bankruptcy Fraud

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    KANSAS CITY, Mo. – A Stillwell, Ks., man was sentenced in federal court on April 29, 2025, for bankruptcy fraud related to his healthcare company.

    William L. Said, 62, was sentenced by U.S. District Judge Greg Kays to 21 months in prison without parole.  The court also ordered Said to pay $85,000 in restitution, which was paid at the time of sentencing.

    On Oct. 1, 2024, Said plead guilty to one count of bankruptcy fraud.  Said admitted that he fraudulently transferred and concealed assets in a bankruptcy case.

    Said was the owner, president, and officer in charge of Restorative Brain Clinic, Inc., which provided Transcranial Magnetic Stimulation services.  Restorative Brain Clinic, Inc. filed a voluntary bankruptcy case in July 2021.  A debtor-in-possession account was established as part of the bankruptcy.  Restorative Brain Clinic’s operating funds were stored in the debtor-in-possession account and Said was the only authorized person who had access to the account.

    In Sept. 2021, the United States Trustee for Region 13, which includes the Western District of Missouri, filed a motion to convert Restorative Brain Clinic’s bankruptcy to a Chapter 7 liquidation case based on gross mismanagement of the estate and a continuing loss or diminution of assets of the estate.  On Oct. 14, 2021, U.S. Bankruptcy Judge Dennis R. Dow presided over an evidentiary hearing on the conversion motion.  At the conclusion of evidence, Judge Dow granted the motion to convert the case to a Chapter 7 bankruptcy and found there was mismanagement of assets, self-dealing, and inadequate corporate controls, among other issues.  Judge Dow ordered the United States Trustee to appoint a Chapter 7 trustee to identify assets to pursue for unsecured creditors. The hearing concluded at 4:12 p.m.

    Minutes after the conversion hearing, where Said was displaced as the fiduciary of the bankruptcy estate and the Bankruptcy Court ordered that Said no longer had control over Restorative Brain Clinic’s assets, Said initiated several wire transfers of money from the debtor-in-possession account. At 4:16 p.m., Said wired $5,000 to his own bank account from the debtor-in-possession account.  At 4:25 p.m., Said initiated a wire transfer for $12,400 from the debtor-in-possession account to the bank account of a shareholder in Restorative Brain Clinic.  Said also wired $16,300 to a medical staffing company and attempted to wire $5,760 to Restorative Brain Clinic’s landlord.  The debtor-in-possession account was frozen before the funds to pay the landlord left the account.

    Said also admitted to selling leased medical equipment. Restorative Brain Clinic leased medical equipment manufactured by AB Sciex, LLC in 2018.  Said was also the owner of Cox Scientific, which sold medical equipment.  In 2019, Cox Scientific agreed to sell AB Sciex medical equipment to a California company.  Said sent an electronic invoice to the owner of the California company.  The invoice contained a description of the equipment Said was selling along with an itemized list of the equipment’s components, which included a unique serial number for each component.  The list of components Said sent to the California company were the same components leased by Restorative Brain Clinic.  Said admitted that he scratched out and altered serial numbers on the AB Sciex equipment to conceal he was selling equipment through Cox Scientific that was being rented by Restorative Brain Clinic, Said.  Then, Said used the altered serial numbers on the invoice to the California company.

    The California company paid $85,000 for the AB Sciex equipment that Said sold to them and which Said did not own.

    This case was prosecuted by Special Assistant U.S. Attorneys Bradley Cooper and Adam Miller. It was investigated by the FBI and the United States Trustee for Region 13. 

    MIL Security OSI –

  • MIL-OSI: Security Federal Corporation Announces Increase in First Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    AIKEN, S.C., May 01, 2025 (GLOBE NEWSWIRE) — Security Federal Corporation (the “Company”) (OTCBB: SFDL), the holding company for Security Federal Bank (the “Bank”), today announced earnings and financial results for the quarter ended March 31, 2025.

    The Company reported net income available to common shareholders of $2.6 million, or $0.81 per common share, for the quarter ended March 31, 2025, compared to $1.8 million, or $0.54 per common share, for the first quarter of 2024. The increase in net income available to common shareholders was primarily due to increases in net interest income and non-interest income, as well as a decrease in the provision for credit losses, which were partially offset by an increase in non-interest expense, provision for income taxes and the payment of preferred stock dividends during the first quarter of 2025.

    First Quarter Financial Highlights

    • Net interest income increased $1.2 million, or 12.5%, to $11.2 million as interest income increased and interest expense decreased.
    • Total interest income increased $514,000, or 2.7%, to $19.2 million while total interest expense decreased $733,000, or 8.4%, to $8.0 million during the first quarter of 2025 compared to the same quarter in 2024. The increase in interest income was the result of a $1.6 million increase in interest income from loans, which was partially offset by a decrease in interest income from investments and other interest-earning assets. Interest expense decreased during the first quarter of 2025 due to lower market interest rates and the payoff of outstanding borrowings with the Federal Reserve, which resulted in a lower balance of average interest-bearing liabilities compared to the first quarter of 2024.
    • Non-interest income increased $122,000, or 5.3%, to $2.4 million during the first quarter of 2025 compared to the same quarter in the prior year primarily due to a $60,000 increase in rental income and $62,000 gain on sale of land held for sale. During the first quarter of 2025, we purchased a multi-tenant property resulting in an increase to rental income. The property is intended to be the future site of a full-service branch.
    • Non-interest expense increased $205,000, or 2.1%, to $9.8 million during the quarter ended March 31, 2025, compared to the same quarter in the prior year primarily due to a $256,000 increase in salaries and expenses for employee benefits, which was partially offset by a decrease in expenses for advertising and depreciation and maintenance of equipment.
      Quarter Ended
    (Dollars in Thousands, except for Earnings per Share) 3/31/2025   3/31/2024
    Total interest income $ 19,233     $ 18,719  
    Total interest expense   8,004       8,737  
    Net interest income   11,229       9,982  
    Provision for credit losses   –       335  
    Net interest income after provision for credit losses   11,229       9,647  
    Non-interest income   2,443       2,321  
    Non-interest expense   9,840       9,635  
    Income before income taxes   3,832       2,333  
    Provision for income taxes   826       580  
    Net income   3,006       1,753  
    Preferred stock dividends   415       –  
    Net income available to common shareholders $ 2,591     $ 1,753  
    Earnings per common share (basic) $ 0.81     $ 0.54  
                   

    Credit Quality

    • The Bank recorded no provision for credit losses during the first quarter of 2025 compared to $300,000 in provision for credit losses on loans and $35,000 in provision for credit losses on unfunded commitments, resulting in a total provision for credit losses of $335,000 for the first quarter of 2024.
    • Non-performing assets were $7.3 million, or 0.46% of total assets, at March 31, 2025, compared to $7.6 million, or 0.47% of total assets, at December 31, 2024.
    • The allowance for credit losses as a percentage of gross loans was 1.99% at March 31, 2025, compared to 1.98% at December 31, 2024.
               
    At Period End (dollars in thousands): 3/31/2025
    		   12/31/2024
    		   3/31/2024
    Non-performing assets $ 7,264     $ 7,636     $ 6,635  
    Non-performing assets to total assets   0.46%       0.47%       0.44%  
    Allowance for credit losses $ 14,005     $ 13,894     $ 12,842  
    Allowance for credit losses to gross loans   1.99%       1.98%       1.95%  
                           

    Balance Sheet Highlights and Capital Management

    • Total assets were $1.6 billion at March 31, 2025, a year-over-year increase of $65.8 million, or 4.3%, and a $27.7 million, or 1.7% decrease from the prior quarter.
    • Cash and cash equivalents decreased $45.2 million during the first quarter of 2025 to $133.1 million at March 31, 2025 primarily because of the repayment of borrowings with the Federal Reserve.
    • Total loans receivable, net was $689.1 million at March 31, 2025, an increase of $2.0 million, or 0.3%, since December 31, 2024.
    • Investment securities increased $13.7 million, or 2.1%, during the quarter to $674.6 million at March 31, 2025, purchases of investment securities exceeded maturities and principal paydowns.
    • Deposits increased $21.5 million, or 1.6%, during the first quarter to $1.3 billion at March 31, 2025.
    • Borrowings decreased $53.6 million, or 57.6%, during the quarter to $39.4 million at March 31, 2025, primarily due to the repayment of borrowings with the Federal Reserve Bank.
    • Common equity book value per share increased to $32.57 at March 31, 2025, from $31.21 at December 31, 2024.
               
    Dollars in thousands (except per share amounts) 3/31/2025   12/31/2024
    		   3/31/2024
    Total assets $ 1,584,027     $ 1,611,773     $ 1,518,214  
    Cash and cash equivalents   133,080       178,277       92,775  
    Total loans receivable, net   689,111       687,149       646,007  
    Investment securities   674,569       660,823       691,554  
    Deposits   1,345,548       1,324,033       1,205,879  
    Borrowings   39,391       92,964       125,383  
    Total shareholders’ equity   186,738       182,389       174,569  
    Common shareholders’ equity   103,789       99,440       91,620  
    Common equity book value per share $ 32.57     $ 31.21     $ 28.41  
    Total risk based capital to risk weighted assets (1)   20.16%       19.96%       19.27%  
    CET1 capital to risk weighted assets (1)   18.90%       18.71%       18.01%  
    Tier 1 leverage capital ratio (1)   10.58%       9.88%       9.91%  
    (1) – Ratio is calculated using Bank only information and not consolidated information
         

    Security Federal has 19 full-service branches located in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.  

    Forward-looking statements:

    Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: potential adverse impacts to economic conditions in our local market area or other aspects of the Company’s business, operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; economic conditions in the Company’s primary market area; demand for residential, commercial business and commercial real estate, consumer, and other types of loans; success of new products; competitive conditions between banks and non-bank financial service providers; changes in the Community Development Capital Initiative (CDCI) Program; changes in management’s business strategies, including expectations regarding key growth initiatives and strategic priorities; legislative or regulatory changes that adversely affect the Company’s business, including the interpretation of regulatory capital or other rules; the ability to attract and retain deposits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; adverse changes in the securities markets; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; technology factors affecting operations, including disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform critical processing functions for us; pricing of products and services; environmental, social and governance goals and targets; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. These factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake any responsibility to update or revise any forward-looking statement.

    The MIL Network –

  • MIL-OSI Global: Ukraine minerals deal: the idea that natural resource extraction can build peace has been around for decades

    Source: The Conversation – UK – By Bridget Storrie, Teaching Fellow, Institute for Global Prosperity, UCL

    Ukraine has finally signed its minerals agreement with the US. The deal states that Washington will eventually receive a share of the profits from the sale of Ukrainian natural resources, providing an economic incentive to continue investing in Ukraine’s defence and reconstruction.

    The US treasury secretary, Scott Bessant, says the deal demonstrates the Donald Trump administration’s commitment to peace in Ukraine.

    On the surface, there is nothing surprising about the deal. The idea that natural resource extraction can play a role in building peace has been around for a decade or two, and has been promoted by the World Bank, the UN and the mining industry itself.

    But what is surprising is how the conversation about mining and peace has changed. It used to be about increasing prosperity in war-torn countries, rather than the “who gets what” that has been associated with this deal.



    Read more:
    US-Ukraine minerals deal looks better for Kyiv than expected – but Trump is an unpredictable partner

    The idea that mining can contribute to peace emerged somewhat paradoxically from the demonstrated capacity of natural resources to drive conflict in places like Afghanistan, the Democratic Republic of Congo (DRC) and Sierra Leone. The theory is that mining can also lead to development – and therefore peace – if it is managed properly.

    If local communities are consulted, revenues are shared fairly, harms are minimised, and if there is transparency and accountability, a mine can play a role in lifting countries out of the economic, environmental and social mess war brings.

    In reality, things are more complicated. The idea that mining can bring about positive change suffers from the same top-down and externally led approach to building peace as the wider peacebuilding model in which it sits. It doesn’t necessarily take local realities and aspirations into account.

    But over the past two decades, natural resources in conflict-affected areas have attracted an enormous amount of attention from UN agencies. The United Nations Environmental Programme (Unep), for example, established an initiative in 2008 aimed at understanding the risks and opportunities presented by high-value natural resources.

    It developed policies and practices related to mining intended to be part of the UN’s peace and security architecture. These included guidance for UN staff working in post-conflict countries that are rich in resources.

    In Sierra Leone, Unep identified the inability of the Environmental Protection Agency to monitor environmental performance and force compliance as a significant risk to the sustainable development of the mining industry. The agency had become overwhelmed by the number of environmental impact assessments submitted for review as the sector expanded after the end of the civil war in 2002.

    A dedicated project to build capacity in Sierra Leone was set up by the UN to remedy this. The project team report that the environmental impact assessment process itself provided an opportunity for dialogue and trust-building between those involved.

    Around the same time, a raft of initiatives were was developed for the extractive sector itself to encourage responsible mining. These included the Kimberley Process, a UN-mandated certification scheme designed to eliminate the trade in conflict diamonds. Sierra Leone has been a member since it was launched in 2003.

    The Extractive Industries Transparency Initiative (EITI), an Oslo-based organisation of government, industry and civil society representatives was also established in 2003. Its aim is to promote the good governance of oil, gas and mineral extraction through the reporting of revenues and payments.

    The concept of good governance has been expanded to include promoting the participation of women, as well as the disclosure of information relating to the environmental impact of a mine. Over 50 countries now implement the EITI Standard.

    All these initiatives and processes can be criticised. But the point is that natural resources in conflict zones have, to a degree at least, been understood as sites for negotiation and dialogue for some time.

    Lowering the bar

    The natural resources beneath Ukraine have become sites for something else – a conflict-riven back-and-forth over their control. And it’s not just in Ukraine. The US is reportedly considering a minerals-for-security deal in the DRC, where Rwandan-backed rebels are currently seizing resource-rich territory in the east.

    The bar appears to have dropped substantially where mining and peacebuilding is concerned. In the heyday of the liberal peacebuilding project, metal and mineral deposits in war-torn countries, like the copper beneath Afghanistan, promised a more positive future, albeit with caution. That optimism now seems misplaced.

    In Afghanistan, this is because the country has fallen back under the control of the Taliban. Mines are quickly being developed to take advantage of the country’s mineral wealth. But the technical, financial and environmental checks associated with mining are reportedly being bypassed. There are concerns that any revenues won’t benefit the population in the way they should.

    In Ukraine, it’s something different. The mineral deposits there are being used to prop up geopolitical ambitions that reflect the dangerous, transactional and increasingly extractive world we now seem to live in. Specifically, the Ukrainian mineral deposits are bringing an authoritarian, Trumpian version of peace to life.

    It is a peace that comes through the geopolitical expression of power by the operation of mines, the acquisition of territory, the expulsion of citizens from certain places, and the top-down transformation of other people’s space.

    This has already expressed itself in Trump’s vision for the US to take over the Gaza Strip, which prompted the UN’s secretary-general, António Guterres, to warn against ethnic cleansing.

    An opencast manganese ore mine in Ukraine.
    Romeo Rum / Shutterstock

    I have written about the problem of natural resource-related peacebuilding before. Whether liberal or illiberal, this problem is the same: geological resources are non-renewable.

    There is a profound paradox here. Whatever we want these resources to do for us, they can’t do it indefinitely. And we are heading for even more trouble if we think they can.

    Expecting a voracious Trump administration or a beleagured Ukrainian one to think about this is expecting too much. But therein lies the tragedy of current peacebuilding endeavours.

    They are fixated on the here-and-now, in the hope that the social, environmental, ecological and geological future will take care of itself. Unfortunately, it won’t.

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

    – ref. Ukraine minerals deal: the idea that natural resource extraction can build peace has been around for decades – https://theconversation.com/ukraine-minerals-deal-the-idea-that-natural-resource-extraction-can-build-peace-has-been-around-for-decades-252090

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Bank of Canada announces 2024–25 scholarship recipients

    Source: Bank of Canada

    The Bank of Canada is pleased to announce this year’s recipients of its scholarship awards for students with disabilities, Indigenous students, LGBTQ2S+ students, francophones and students who identify as a woman or as a member of a racialized group. We know that the inclusion of diverse identities and ideas fosters innovative thinking and better policy outcomes for Canadians. It’s core to our success as a leading central bank. That is why our scholarships are designed to encourage Canadians from diverse backgrounds to further their education and consider employment in fields related to the work of the Bank.

    The 2024-25 award recipients are as follows:

    • Abigail Meloche, pursuing a Bachelor of Economics at Carleton University
    • Allison Tsypin, pursuing a Bachelor of Mathematics at McGill University
    • Andy Duan, pursuing a Bachelor of Arts in Economics at Princeton University
    • April Quill, pursuing a Bachelor of Science with major in Statistics at University of Manitoba
    • Wendy Liao, pursuing a bachelor’s degree in computer science and business at Western University
    • Elliot Thordarson, pursuing a Bachelor of Commerce at I.H. Asper School of Business (University of Manitoba)
    • Katherine Brennan, completed a bachelor’s degree in economics and statistics at University of Toronto, with plans to pursue a master’s degree in economics
    • Katherine Karapetrovic, pursuing a Bachelor of International Economics at University of British Columbia
    • Laila Virani, pursing a bachelor’s degree in business at University of British Columbia
    • Linda Nidale-Sadeck, pursuing a Bachelor of Economics at Carleton University
    • Manahil Malik, completed a bachelor’s degree in economics at University of Toronto, with plans to pursue a master’s degree in economics
    • Manuel Fernandez, pursuing a Bachelor of Commerce, Management, Economics and Finance at University of Guelph
    • Melody Johnson, pursuing a college diploma in Protection, Security and Investigation at Conestoga College
    • Rand Al-Nauimi, pursuing a Bachelor of Commerce with option in Business Technology Management at Telfer School of Management (University of Ottawa)
    • Rosana Gao, pursuing a Bachelor of Applied Science in Engineering Science at University of Toronto
    • Simeon Muepu, pursuing a Bachelor of Finance at Université de Montreal
    • Xavier Desroches Borelly, pursuing a Bachelor of Science degree in Computer Science at Western University
    • Yeo Eun Chi, completed a bachelor’s degree in business administration with specialization in finance at University of Toronto, with plans to pursue a master’s degree in economics

    The 2024–25 recipients of the Bank’s Scholarship Award for Post-Secondary Students receive Can$8,000. The award is intended to assist the following students with tuition at an accredited academic institution:

    • students with disabilities
    • Indigenous students
    • LGBTQ2S+ students
    • francophones
    • students who identify as a woman
    • students who identify as a member of a racialized group

    Successful candidates may be offered a work opportunity at the Bank, with mentorship by a Bank employee.

    Recipients of the Master’s Scholarship Award for Women in Economics and Finance must have completed or be in the final two years of an undergraduate degree at a Canadian university and self-identify as a woman. In addition to the award of Can$10,000, successful candidates may be offered a work opportunity at the Bank, with mentorship by a Bank employee.

    For more information on all opportunities for students, please visit our webpage.

    MIL OSI Canada News –

  • MIL-OSI: North American Construction Group Ltd. Announces Closing of Private Placement Offering of $225 Million Senior Unsecured Notes

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, May 01, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX: NOA / NYSE: NOA) announced today that it has successfully closed its previously announced private placement offering (the “Offering”) of $225 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030 (the “Notes”).

    As previously stated, NACG will utilize the proceeds of the Offering to repay indebtedness under its existing Credit Agreement, and for general corporate purposes.

    The Notes were offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.

    The Offering was underwritten by National Bank Financial Inc., including its U.S. affiliates, ATB Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Genuity Corp., Raymond James Ltd., and Ventum Financial Corp.

    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    Forward-Looking Information

    The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions and include guidance with respect to the Offering, including, but not limited to, the use of proceeds of the Offering. The material factors or assumptions used to develop the above forward-looking statements, and the risks and uncertainties to which such forward-looking statements are subject, include, but are not limited to, the expected use of proceeds of the Offering, interest rates and market conditions, heavy equipment demand, and credit risks and existing indebtedness. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Although NACG believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and NACG cautions you to not place undue reliance upon forward-looking statements. NACG undertakes no obligation, other than those required by applicable law, to update or revise such forward-looking statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.ca and on our company website at www.nacg.ca.

    For more information, contact:

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    (780) 960.7171
    ir@nacg.ca
    www.nacg.ca

    Source: North American Construction Group Ltd.

    The MIL Network –

  • MIL-OSI Banking: Samsung Honors Educators with Special Discounts During Teacher Appreciation Week

    Source: Samsung

    From May 5 to 9, school communities throughout the United States will celebrate Teacher Appreciation Week, a week dedicated to thanking educators for their hard work in inspiring and shaping the young minds of tomorrow. Samsung would like to take this opportunity to recognize all educators for their commitment to instilling students with the knowledge and skills necessary for future success by offering exclusive savings for educators and school administrators from May 1 to 31.
    “Educators are the backbone of our future successors, expanding the horizons of millions of students and guiding them on the path to become the leaders of tomorrow,” said Sara Grofcsik, Head of Sales, Display Division, Samsung Electronics America. “In today’s rapidly evolving digital world, access to impactful, user-friendly technology is essential in empowering both teachers and students. By offering best-in-class education solutions, we’re not just supporting educators, we’re investing in learning, innovation and opportunities for all.”

    Big Thanks, Bigger Savings on Interactive Displays and Monitors
    Teacher Appreciation Week deals include discounts up to $800 on select products on Samsung.com, including $300 off the Interactive Display (model name: WAD), Samsung’s first Google Enterprise Devices Licensing Agreement (EDLA)-certified classroom display. Powered by the Android 13 operating system, the Samsung WAD Interactive Display — available in 65-, 75- and 86-inch models — provides an intuitive and engaging experience that eliminates the learning curve of new instructional tools for teachers and students alike. To enhance student collaboration and classroom engagement, the WAD series offers a natural writing experience with infrared (IR) touch and supports up to 40 simultaneous touchpoints.
    Additional savings include up to a $620 discount on the award-winning 27-inch ViewFinity S9 monitor — a 5K high-resolution screen that delivers incredible detail when developing engaging and vibrant classroom materials. Educators can also enjoy $300 off the immersive curved 34-inch ViewFinity S65VC and up to $360 off the 34-inch ViewFinity S65TC monitors that maximize screen real estate and improve productivity when it comes to crafting lesson plans, reviewing curriculum or managing the classroom.

    Saluting Samsung Solve for Tomorrow Champions: 10 Schools, New Tech!
    Samsung recently awarded 10 public middle and high schools with a Samsung Interactive Display (model name: WAF) and specialized training from the Samsung Education Solutions team as part of the Samsung Solve for Tomorrow national STEM competition. Now in its 15th year, Solve for Tomorrow challenges students in grades 6–12 to use STEM to develop real-world solutions to issues impacting their local communities. This milestone year celebrates a legacy of student-driven innovation, with more than $2 million in prizes awarded in 2025 alone. At the core of Solve for Tomorrow is a mission to advance STEM literacy, proficiency and equity, ensuring that educators are equipped with transformative technology and students are empowered to think boldly and creatively. To date, Samsung has provided over $29 million in technology and classroom resources to nearly 4,300 public schools across the United States, helping to bridge the knowledge and resource gaps in STEM education.
    “Receiving the Samsung WAF Interactive Display is a game-changer for our school. It will open up new possibilities for how we teach, connect and inspire the next generation of innovators,” said Dr. Kirstin Milks, science teacher, Bloomington High School South in Bloomington, Indiana.

    MIL OSI Global Banks –

  • MIL-OSI USA: Bankruptcies Rise 13.1 Percent Over Previous Year

    Source: United States Courts

    Bankruptcy filings rose 13.1 percent during the 12-month period ending March 31, 2025. That is a similar rate of acceleration as in the Dec. 31, 2024, quarterly report, but new bankruptcy cases remain significantly lower than after the 2007-08 Great Recession. 

    According to statistics released by the Administrative Office of the U.S. Courts, total filings rose to 529,080 cases, compared with 467,774 cases reported during the year ending March 31, 2024.

    Business filings increased 14.7 percent, from 20,316 in March 2024 to 23,309 in the newest report. Non-business filings rose 13.0 percent, from 447,458 in March 2024 to 505,771 in March 2025. 

    Bankruptcy totals for the previous 12 months are reported four times annually.

    For more than a decade, total filings fell steadily, from a high of nearly 1.6 million in September 2010 to a low of 380,634 in June 2022. Total filings have increased each quarter since then, but they remain far lower than historical highs.

    Business and Non-Business Filings, Years Ending March 31, 2021-2025
    Year Business Non-Business Total
    2025 23,309 505,771 529,080
    2024 20,316 447,458 467,774
    2023 14,467 388,806 403,273
    2022 13,160 382,213 395,373
    2021 19,911 453,438 473,349
    Total Bankruptcy Filings By Chapter, Years Ending March 31, 2021-2025
    Year Chapter
      7 11 12 13
    2025 320,571 8,844 259 199,130
    2024 271,825 8,036 155 187,539
    2023 231,200 5,371 148 166,449
    2022 265,071 4,333 228 125,655
    2021 345,224 7,823 487 119,502

    Additional statistics released today include:

    • Business and non-business bankruptcy filings for the 12-month period ending March 31, 2025 (Table F-2, 12-month),
    • A comparison of 12-month data ending March 2024 and March 2025 (Table F),
    • Filings for the most recent three months, (Table F-2, 3-month); and filings by month (Table F-2, January, February, and March),
    • Bankruptcy filings by county (Report F-5A).

    For more on bankruptcy and its chapters, view the following resources:

    MIL OSI USA News –

  • MIL-OSI: Best Online Casinos: JACKBIT Rated Top Casino Site In 2025

    Source: GlobeNewswire (MIL-OSI)

    LARNACA, Cyprus, May 01, 2025 (GLOBE NEWSWIRE) — As the demand for online gambling for real money grows, players face a crowded market of options, making it challenging to identify the best online casinos that pay real money. Our team meticulously evaluated numerous platforms, and JACKBIT emerged as the clear leader in delivering an unmatched real money casino experience.

    JOIN JACKBIT NOW & WIN FREE SPINS

    Whether you’re chasing jackpots on the best online casino slots or strategizing at blackjack tables, JACKBIT offers a seamless and rewarding platform that stands out among top online casinos. This review explains why JACKBIT stands out as the top online casino, detailing its bonuses, games, payment options, and more. Ready to dive in? Join JACKBIT Casino and claim your 30% rakeback and 100 free spins!

    A Closer Look at the Best Online Casino: JACKBIT

    JACKBIT has secured the top spot in our rigorous evaluation of the best online casinos for real money. Below, we break down the key factors that make it the leading real money casino for 2025.

    JACKBIT – The Top Online Casino for Real Money

    Since its 2022 launch under a Curacao eGaming Commission license, JACKBIT has set a new benchmark for real-money online casinos. Its standout feature is a no KYC policy, allowing players to register and play with maximum privacy—a game-changer for those seeking legit online casinos.

    As a best paying online casino, JACKBIT processes withdrawals instantly, ensuring you access your winnings without delay. Imagine depositing, playing Sweet Bonanza, and cashing out a big win in minutes—that’s the JACKBIT experience.

    New players get a sign-up bonus of 30% rakeback and 100 free spins with no wagering requirements—perfect for trying out all the platform’s games and features.

    For example, a $100 deposit could yield $30 back plus free spins on Book of the Dead, giving you a head start. JACKBIT keeps the fun going with ongoing offers: a VIP club that gives up to 30% rakeback, social media rewards, and Pragmatic Play’s Drops & Wins tournaments with a €2 million prize pool.

    GET 30% RAKEBACK AND 100 FREE SPINS AT JACKBIT!

    With over 7,000 casino games real money options from 91 top providers like Pragmatic Play, Evolution Gaming, and Play’n Go, JACKBIT caters to every taste. From high-RTP slots to live dealer blackjack, the variety is staggering.

    Its sportsbook is equally impressive, boasting thousands of monthly live events across 140+ sports, including football, basketball, and esports like League of Legends. This makes JACKBIT a one-stop shop for all gambling needs, from casual slot spins to high-stakes sports betting.

    The platform’s sleek, intuitive interface is available in multiple languages (English, Japanese, French, Spanish), ensuring accessibility. High-end SSL encryption protects your data, and 24/7 customer support via live chat and email guarantees prompt assistance.

    Whether you’re new to online casinos that pay real cash or a seasoned player, JACKBIT’s player-centric design and flexible payment options make it the best casino online real money for 2025.

    Pros and Cons of JACKBIT Casino

    Here’s a balanced look at JACKBIT’s strengths and potential drawbacks:

    • Pros:
      • No KYC policy for maximum privacy
      • Instant deposits and withdrawals
      • Over 7,000 games from top providers
      • Extensive sportsbook with live betting
      • Generous welcome bonus and VIP rewards
      • Supports 16+ cryptocurrencies and traditional methods
      • 24/7 customer support
    • Cons:
      • Relatively new platform (launched 2022)
      • Some bonuses may have wagering requirements
      • Bonuses may be game-specific
      • Availability may be restricted in certain regions

    How to Join JACKBIT

    Joining JACKBIT is quick and user-friendly, designed to get you playing in minutes, even if you’re new to real money casinos:

    1. Visit JACKBIT Casino: Click here to navigate to JACKBIT Casino to access the sign-up page.
    2. Sign Up
      1. Click Sign Up, enter your email, and a password.
      2. No personal details needed—registration is instant.
      3. Make Your First Deposit
        1. Go to the Cashier, choose Bitcoin, Ethereum, or Visa.
        2. Deposit at least $50 (or crypto equivalent).
        3. For crypto, just scan the QR code—funds appear instantly.
        4. Enter Bonus Code
          1. In the deposit window, enter the current promo code (e.g., WELCOME).
          2. Check the Promotions page for the latest code.
          3. Receive Your Bonus
            1. Automatically get 30% rakeback plus 100 free spins (no wagering).
            2. Start Playing
              1. Explore over 7,000 slots, table games, and live sports betting.

                2. Pro Tip: Double-check your email and bonus code before you deposit to avoid any hiccups.

                How We Selected JACKBIT as the Best Online Casino

                Choosing the best online casino for real money play required a strict evaluation process to ensure safety, value, and enjoyment. Here’s how we landed on JACKBIT:

                License and Security

                JACKBIT operates under a Curacao eGaming license, a trusted authority in online gambling. It uses high-end SSL encryption to safeguard player data and transactions, ensuring a secure environment. Regular audits confirm game fairness, making it a reliable real cash online casino (Casinos Blockchain).

                Bonuses and Promotions

                We prioritized casinos with generous, fair bonuses. JACKBIT’s 30% rakeback and 100 free spins with no wagering requirements outshine many competitors. Ongoing promotions, like VIP rakeback up to 30% and weekly $10,000 prize pools, add significant value for regular players.

                Casino Games

                A diverse game library is crucial. JACKBIT’s 7,000+ games, from high-RTP slots to live dealer tables, cater to all preferences. It’s sportsbook, with 140+ sports and thousands of live events, ensures variety, keeping the experience fresh for top online casinos real money users.

                Casino Game Providers

                JACKBIT works with top providers—Pragmatic Play, Evolution Gaming, and Play’n Go—to offer fair, eye-catching games with seamless performance, making it a standout online casino.

                Banking Methods

                Flexible, fast payments are essential. JACKBIT accepts over 16 cryptocurrencies, like Bitcoin and Solana—for instant, fee-free transactions, and also offers familiar payment methods such as Visa.This aligns with the best online casino payouts expectations.

                Customer Support

                Reliable support is non-negotiable. JACKBIT offers 24/7 live chat and email support, with prompt, professional responses, ensuring players are never left stranded (AskGamblers).

                JACKBIT’s excellence across these criteria—privacy, speed, variety, and support—makes it the undisputed best online casino for 2025.

                CLAIM 30% RAKEBACK + 100 NO-WAGER SPINS—NO KYC!

                What Players Look for in the Best Online Casinos

                When searching for the best online casino, players typically prioritize several key features that enhance their gaming experience and ensure a safe and fair platform. Here’s how JACKBIT meets these expectations:

                1. Security and Licensing: Players seek assurance that their data is secure. JACKBIT’s Curacao license and SSL encryption provide a safe online casino environment.
                2. Game Variety: A broad selection of casino games real money options is essential. JACKBIT’s 7,000+ games and sportsbook cater to all preferences.
                3. Bonuses and Promotions: Generous offers like JACKBIT’s no-wagering welcome bonus and ongoing promotions boost player value.
                4. Payment Options: Flexible methods, including cryptocurrencies and cards, ensure convenience. JACKBIT’s instant withdrawals set it apart as a best paying online casino.
                5. Customer Support: 24/7 support via live chat and email ensures players can resolve issues quickly.
                6. User Experience: An intuitive interface, available in multiple languages, makes JACKBIT accessible and enjoyable.

                JACKBIT’s alignment with these priorities solidifies its status as the top online casino.

                Best Online Casino Games

                JACKBIT’s vast game selection makes it a top online casino, catering to both casual spinners and strategic bettors alike.

                Online Slots

                JACKBIT boasts a vast slot collection, including fan-favorites like Gates of Olympus (Pragmatic Play, 96.5% RTP), Hand of Anubis, and Mega Moolah (progressive jackpot). These slots feature vibrant themes, bonus rounds, and multipliers, making them ideal for players seeking the best online casino slots. For example, Sweet Bonanza offers cascading reels and a 21,100x max win, perfect for thrill-seekers.

                Blackjack

                A blend of luck and strategy, JACKBIT’s blackjack variants include Classic Blackjack, Multi-Hand, and European Blackjack. Players aim to beat the dealer with a hand close to 21, making it a favorite for those seeking skill-based wins at a real money online casino.

                Roulette

                This classic game of chance offers American and European versions. Players bet on outcomes like red/black or specific numbers, with European Roulette’s lower house edge (2.7%) appealing to savvy gamblers. Its simplicity adds excitement to the best casino online real money experience.

                Poker

                JACKBIT’s poker options, like Caribbean Stud and Three Card Poker, pit players against the house. These games blend strategic depth with high win potential, appealing to different play styles and ramping up the thrill of real-money online casinos.

                Live Dealer Games

                Enjoy more than 250 live dealer games streamed in real time for a true casino atmosphere. Titles like Lightning Roulette and Infinite Blackjack let you chat with professional dealers, making real-money play more immersive.

                Sportsbook

                JACKBIT’s sportsbook covers 140+ sports, including football, basketball, and esports like CS:GO. With thousands of monthly live events and diverse betting types (e.g., over/under, parlays), it’s a haven for sports bettors (Silentbet).

                This varied selection lets JACKBIT serve everyone—from slot lovers to sports bettors—cementing its status as the top online casino.

                GET 30% RAKEBACK + 100 ZERO-WAGER SPINS—JOIN NOW!

                Best Online Casino Payment Methods

                JACKBIT’s payment options are tailored for speed and flexibility, making it a top choice for online casinos that pay real money:

                Cryptocurrency

                JACKBIT excels with 16+ cryptocurrencies, including Bitcoin, Ethereum, and Tether. These offer instant, fee-free deposits and withdrawals, with enhanced privacy—perfect for players seeking best online casino payouts. To deposit Bitcoin, log in, select BTC, scan the QR code, and confirm; funds appear instantly (Trustpilot).

                Debit/Credit Cards

                Visa and MasterCard provide instant deposits, ideal for players new to real money casinos. Withdrawals take 1–3 days, standard for traditional methods.

                E-Wallets

                While cryptocurrencies dominate, e-wallets like Skrill may be available, offering fast, secure transactions for players avoiding direct bank details.

                Wire Transfer

                Suitable for high rollers, wire transfers enable large withdrawals but take 1–5 days with potential fees, less ideal for quick payouts.

                JACKBIT’s focus on fast, secure transactions aligns with the needs of players at top online casinos real money platforms.

                Mobile Gaming at JACKBIT

                In today’s fast-paced world, mobile gaming is essential for the best online casinos. JACKBIT’s platform is fully optimized for mobile devices, allowing players to enjoy casino games that pay real money on smartphones and tablets. The mobile interface mirrors the desktop experience, offering intuitive navigation, fast loading times, and access to all features, including deposits, withdrawals, and bonuses. Whether you’re spinning slots or betting on sports, JACKBIT ensures a seamless mobile experience, making it a top online casino for on-the-go play.

                UNLOCK YOUR 30% RAKEBACK & 100 FREE SPINS—KYC-FREE!

                Responsible Gambling at Online Casinos

                Gambling with real money at sites like JACKBIT is exciting, but it’s vital to play responsibly. JACKBIT offers tools to help you stay in control:

              • Deposit Limits: Choose a maximum amount you can add to your account.
              • Loss Limits: Cap how much you can lose over a set period.
              • Wagering Limits: Restrict the size of your bets in a given timeframe.
              • Session Time Limits: Track and limit how long you play each session.
              • Cooling-Off Periods: Pause your account temporarily when you need a break.
              • Reality Checks: Get pop-up reminders showing how long you’ve been playing.

              JACKBIT’s commitment to responsible gambling ensures a safe, enjoyable experience. Players should wager only what they can afford to lose and seek support if needed, such as through the National Council on Problem Gambling (1-800-522-4700).

              JACKBIT Conclusion: The Best Online Casino for 2025

              Our team reviewed dozens of real-money casinos and named JACKBIT the top choice for 2025. Its no-KYC policy, instant withdrawals, and library of over 7,000 high-payout games make it stand out. New players get 30% rakeback plus 100 free spins on sign-up, and ongoing VIP rewards and tournaments add even more value. With flexible payment options, strong security, and 24/7 support, JACKBIT delivers a reliable experience.

              Whether you prefer high-RTP slots or sports and esports betting, you’ll find it here. Built around responsible-gaming tools and a player-first design, JACKBIT is the best online casino for real-money play in 2025.

              Frequently Asked Questions

              • Is JACKBIT a legitimate online casino?

              JACKBIT is licensed by the Curacao eGaming Commission, ensuring strict regulatory compliance for fairness and security in online gambling for real money.

              • What bonuses does JACKBIT offer?

              JACKBIT provides a 30% rakeback and 100 free spins welcome bonus with no wagering requirements, plus ongoing promotions and a rewarding VIP program for players.

              • Can I play on JACKBIT from my mobile device?

              Yes, JACKBIT’s platform is fully optimized for mobile devices, offering seamless access to games and betting options on smartphones and tablets for real money play.

              • What currencies does JACKBIT accept?

              JACKBIT supports 16+ cryptocurrencies like Bitcoin, Ethereum, and Tether, alongside traditional methods like Visa and MasterCard for deposits and withdrawals in real money casinos.

              • How fast are withdrawals at JACKBIT?

              Cryptocurrency withdrawals at JACKBIT are processed instantly, while traditional methods like Visa or bank transfers may take 1-3 days, ensuring quick access to winnings.

              • Does JACKBIT offer live dealer games?

              Yes, JACKBIT features over 250 live dealer games, including blackjack, roulette, and baccarat, hosted by professional dealers for an immersive real money casino experience.

              Email: support@JACKBIT.com

              Legal Disclaimer

              This content is for informational and entertainment purposes only and should not be interpreted as legal, financial, or gambling advice. All information is presented “as is,” with no warranties regarding accuracy or completeness. Readers are responsible for verifying information and ensuring compliance with local gambling laws. Gambling involves financial risk and potential addiction. Gamble responsibly, only wagering what you can afford to lose. Seek help from organizations like the National Council on Problem Gambling if needed. Some links may be affiliate links, earning a commission at no cost to you. JACKBIT is licensed outside your jurisdiction and may be restricted in certain regions.

              A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dffa4a83-8d63-4896-b946-7c34d8acc993

              The MIL Network –

  • MIL-OSI: Bottomline Breaks New Ground with Paymode for Digital Banking

    Source: GlobeNewswire (MIL-OSI)

    PORTSMOUTH, N.H., May 01, 2025 (GLOBE NEWSWIRE) — Bottomline, a global leader in business payments, has announced Paymode for Digital Banking. Paymode is Bottomline’s leading business payments network, processing over $450B annually. By embedding access to Paymode into its best-in-class commercial Digital Banking solution, Bottomline’s bank clients can now offer Paymode to their business customers in a single platform.

    Bottomline’s new solution introduces the industry’s first in-app self-enrollment service for supplier payments, embedded into its commercial Digital Banking platform. This capability provides banks with an additional tool to serve their customers and creates exciting new revenue opportunities for banks and their customers.

    “This next phase in digital banking, unique to both Bottomline and the banking world, will help digitize more payments for corporates as well as generate more sustainable and predictable non-interest income for banks,” said Craig Saks, CEO and President of Bottomline. “With the ease of self-enrollment coupled with our large vendor population, this new solution creates a significant opportunity for corporates and banks.”

    The Digital Banking solution, used by more than 440,000 businesses, coupled with Paymode and its network of over 550,000 vendors, provides the scale necessary to truly transform how businesses pay and get paid. This new embedded solution simplifies business payments, providing enhanced remittance data and helping automate more reconciliation tasks for suppliers. It also enables payers to earn rebates on payments they already make, creating a new revenue stream. Using the secure Paymode network also reduces the risk of payment fraud.

    Now, banks can offer their corporate clients a more comprehensive payment experience, leading to increased engagement, greater wallet share, and stronger primary relationships. Matt Richardson, Head of Product Solutions at Citizens Bank, is partnering with Bottomline to offer this solution to Citizens business banking customers.

    “Citizens works closely with their clients as a trusted advisor and strategic partner to make sure they have access to innovative solutions that help them achieve their goals,” said Richardson. “Paymode for Digital Banking is the next evolution of a product suite that will allow us to offer powerful capabilities to our clients to help give them an edge.”

    Bottomline’s Digital Banking platform, consistently recognized with industry accolades, was most recently named the Best Overall Fintech Software by Fintech Breakthrough for its enhanced Digital Banking solution. The announcement of Paymode for Digital Banking exemplifies how Bottomline is taking digital banking and business payments transformation to the next level.

    About Bottomline
    Bottomline helps businesses transform the way they pay and get paid. A global leader in business payments and cash management, Bottomline’s secure, comprehensive solutions modernize payments for businesses and financial institutions globally. With over 35 years of experience, moving more than $16 trillion in payments annually, Bottomline is committed to driving impactful results for customers by reimagining business payments and delivering solutions that add to the bottom line. Bottomline is a portfolio company of Thoma Bravo, one of the largest software private equity firms in the world, with more than $166 billion in assets under management. For more information visit www.bottomline.com.

    Trademarks
    Bottomline, Paymode, and the Bottomline logo are trademarks or registered trademarks of Bottomline Technologies, Inc. All other trademarks, brand names or logos are the property of their respective owners.

    Media Contact:
    pr@bottomline.com

    The MIL Network –

  • MIL-OSI: Flourish Announces Major Expansion of Digital Fee-Based Annuities Platform for RIAs

    Source: GlobeNewswire (MIL-OSI)

    New York, May 01, 2025 (GLOBE NEWSWIRE) — Flourish, a WealthTech platform that helps registered investment advisors (RIAs) grow by evolving from holistic advice to holistic implementation, today announced a significant expansion of Flourish Annuities, its digital end-to-end RIA-centric annuities platform for advisors. The enhanced offering adds to the types of annuities available and broadens its carrier network, further empowering independent advisors to more effectively incorporate protection solutions into client portfolios.

    Building on the success of its Multi-Year Guaranteed Annuities (MYGAs) offering, Flourish Annuities is now expanding its marketplace of fee-based annuity products to include Registered Index-Linked Annuities (RILAs), Fixed Indexed Annuities (FIAs), and Variable Annuities (VAs). For clients seeking lifetime income options, guaranteed lifetime withdrawal benefits (GLWBs) can be added to eligible annuity contracts for a fee, giving clients the option to receive a “paycheck for life.” 

    The platform now boasts offerings from five highly-rated insurance carriers including new partnerships with Equitable and Jackson National Life Insurance Company® (Jackson®). They join existing carrier partners Aspida, Corebridge Financial, and MassMutual Ascend. 

    The Flourish platform continues to remove the barriers to annuities adoption by RIAs by allowing advisors to leverage an insurance-licensed outsourced insurance desk (OID), offering a digital application experience, and curating a marketplace of fee-based annuities designed for RIAs. 

    “As we transition to Wealth 3.0, advisors are increasingly expected to go beyond traditional portfolio management and bring their clients solutions that address all aspects of their financial lives,” said Max Lane, CEO of Flourish. “Fee-based annuities serve as an important tool to replace older commissioned annuities that are no longer fit for purpose. They can also add highly valued safety to financial portfolios through lifetime income, guaranteed protection and returns, or tax deferral. Advisors who are looking to grow their firms and produce better results for clients can now access a wide range of annuities via the same beautiful experience they’ve come to expect from Flourish solutions.”

    “Recent market volatility underscores the need for protection and income strategies to help financial professionals and their clients plan for the future with confidence, especially with a record 11,000 Americans turning 65 every day. Equitable is a leader in the annuity market and has a history of innovation in designing solutions that offer tax-advantaged growth, downside protection and guaranteed income in retirement,” said Pete Golden, Chief Sales & Distribution Officer for Individual Retirement at Equitable. “We look forward to collaborating with more registered investment advisors through our new relationship with Flourish.”

    “Adding Jackson annuities to the Flourish platform increases our access to the growing RIA channel and represents another option for financial professionals to integrate annuities into their clients’ portfolios,” said Tim Munsie, head of RIA, platform distribution and planning at Jackson National Life Distributors LLC, the marketing and distribution business of Jackson. “We must continue to increase financial professional access to fee-based annuity options, and the Flourish platform makes this possible by eliminating insurance licensing requirements, which helps simplify the process for financial professionals and their clients.”

    The platform expansion also allows advisors to help clients transition from annuities that no longer meet their needs to fee-based alternatives that better align with clients’ financial goals.

    Flourish Annuities was built for independent RIAs who have not traditionally adopted annuities into their practice largely due to licensing requirements, operational complexities, and outdated technology. Flourish Annuities addresses and eliminates these barriers with its digital-first platform, Outsourced Insurance Desk (OID), and curated marketplace of fee-based annuities from vetted carriers. Flourish Annuities is integrated with key advisor platforms including eMoney, Orion, Black Diamond, and Redtail, making it easy for advisors to incorporate annuities into their existing workflows and bill on them just like any other asset in the portfolio.

    Over 990 RIAs managing $2.6 trillion in combined assets trust Flourish to help them fully execute financial plans and bring more assets into their orbit. As a platform that helps RIAs grow by evolving from holistic advice to holistic implementation, Flourish also allows advisors to feature their firm’s branding as well as providing client-friendly marketing materials, premium support, and more.

    ABOUT FLOURISH
    Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform supports more than $7 billion in assets under custody and is used by more than 990 wealth management firms representing $2.6 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com. 

    Forward Looking Statements
    This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.

    This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success. 

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    The MIL Network –

  • MIL-OSI: Chapman Becomes Chief Executive Officer of Renasant

    Source: GlobeNewswire (MIL-OSI)

    TUPELO, Miss., May 01, 2025 (GLOBE NEWSWIRE) — Today, Renasant Corporation (the “Company”) announced that Kevin D. Chapman has officially assumed the role of Chief Executive Officer and President of both the Company and Renasant Bank (the “Bank”). C. Mitchell Waycaster, immediate past Renasant CEO, will continue as Executive Vice Chairman for both the Company and the Bank. As Executive Vice Chairman, Waycaster will continue to be involved in strategic planning, investor relations, mergers and acquisitions, and providing guidance and board level oversight for the Company.

    “As previously announced with our company’s succession plan, it is with full confidence and great enthusiasm that the Board and I pass the leadership torch to Kevin Chapman as our new CEO,” said E. Robinson McGraw, Chairman of the Board of the Company and the Bank. “We are in exceptionally capable hands under Kevin’s leadership, and we are confident that his proven track record and vision will guide Renasant to even greater success. On behalf of our shareholders, board, and employees, we congratulate Kevin on this well-deserved promotion and look forward to supporting him as he leads Renasant into the future.”

    About Kevin D. Chapman: Chapman has been President since May 2023 and Chief Operating Officer for the Company since May 2018. Prior to his current role, Chapman held several different roles including Chief Financial Officer, Chief Strategy Officer and Chief Accounting Officer and Corporate Controller.

    Chapman has worked in the financial services industry for more than 25 years with experience that includes initial public offerings, capital markets, mergers and acquisitions, capital raises, investor relations and corporate strategy. Prior to Renasant, he served as Corporate Controller for a large regional bank and as an accountant with Ernst and Young in Birmingham, Alabama.

    Chapman received his M.B.A. and B.S. in Accounting from Troy University.  He is a licensed C.P.A. in the state of Alabama. Chapman is involved in many community and non-profit organizations and has served as a board or committee member of the Community Development Foundation of Tupelo, the Health Care Foundation of North Mississippi, North Mississippi Medical Center, Yocona Area Council of the Boy Scouts of America, United Way of Northeast Mississippi, and the North Mississippi Symphony Orchestra.

    Chapman has served as a past board member of Mississippi Bankers Association and
    Mississippi Young Bankers. Additionally, he has served on various committees for the American Bankers Association.

    ABOUT RENASANT CORPORATION:
    Renasant Corporation is the parent of Renasant Bank, a 121-year-old financial services institution. As of April 1, 2025, Renasant has assets of approximately $26.0 billion and operates more than 280 banking, lending, mortgage and wealth management offices throughout the Southeast and offers factoring and asset-based lending on a nationwide basis.

    Contacts: For Media:   For Financials:
      John S. Oxford   James C. Mabry IV
      Senior Vice President   Executive Vice President
      Chief Marketing Officer   Chief Financial Officer
      (662) 680-1219   (662) 680-1281

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c43105d-19a8-4344-a211-8c758211b062

    The MIL Network –

  • MIL-OSI Global: Why Donald Trump’s trade tariffs are a threat to global food security

    Source: The Conversation – UK – By Lotanna Emediegwu, Senior Lecturer in Economics, Manchester Metropolitan University

    Billion Photos/Shutterstock

    Donald Trump’s tariffs will make many things more expensive for his fellow US citizens. The price of imported cars, building materials and some tech will go up – and so will the cost of the food on American dining tables.

    The US currently imports around 16% of its food supply, with a large proportion of its fruit and vegetables coming from countries now hit by tariffs.

    Mexico stands out. It supplies over half the fresh fruit and nearly 70% of the fresh vegetables consumed in the US.

    And even when it comes to home grown produce, the US still depends on imported fertiliser for its crops, with Canada providing up to 85% of its neighbour’s supply.

    So grocery bills for American families, especially for fresh produce (and processed foods dependent on foreign ingredients) will get higher. But there will also be a noticeable effect on food prices outside the US.

    The consequences could be particularly serious for developing economies that rely on stable international prices to secure affordable food imports. The prices of many global staples including maize, wheat and soybeans are benchmarked against US markets so when disruptions occur, they reverberate globally.

    Research I conducted with a colleague found that when international prices are disturbed, local food prices, especially in developing countries, go up.

    Take global maize prices, which this year rose by 7% between April 2 (Trump’s “liberation day”) and April 11. Our study suggests this will immediately lead to a similar increase in local maize prices in places like sub-Saharan Africa.

    This is where many of the world’s poorest people live, with hundreds of millions in households earning below the World Bank’s poverty line of US$2.15 (£1.61) per day. When much of that income is spent on food, a 7% increase in the price of maize could be devastating.

    Growth market

    According to another study, tariffs on agricultural products such as fertiliser will increase global production costs, potentially lowering crop yields and worsening food insecurity.

    While the US has reduced tariffs on Canadian potash from 25% to 10%, other fertiliser producers face steeper levels (up to 28% for another major exporter, Tunisia, before Trump’s reciprocal tariffs were paused).

    This is especially worrying for agriculture in countries like Brazil, India and Nigeria, which are still reeling from fertiliser shortages caused by the war between Russia and Ukraine. As with food costs, US tariffs are likely to drive up prices in the global fertiliser market, making it more expensive for everyone, everywhere.

    And when the cost of farming rises, crop production can suffer. This could significantly weaken food production in developing countries that are already battling climate change and volatile markets.

    Another study I conducted found that countries such as the Democratic Republic of the Congo and Somalia – already struggling with food insecurity – are among the most vulnerable to local food price shocks. These economies depend heavily on food imports and face high exposure to currency fluctuations and transport costs.

    A banana field in the Democratic Republic of the Congo.
    giulio napolitano/Shutterstock

    If the trade war escalates, farmers in these regions may be forced to abandon staple crops for cash commodities such as cocoa or coffee, deepening their reliance on volatile global markets and reducing their food self-sufficiency. Global inequality will worsen unless things change.

    One option would be to protect essential agricultural imports, especially fertilizers and staple foods, from punitive tariffs. This would stabilise prices and protect vulnerable economies. The recently announced 90-day pause for negotiations offers a glimmer of hope, but it must be used wisely to build a more equitable trading system.

    In the long term, developing countries need to bolster the resilience of their food systems. My research recommends investing heavily in mechanised agriculture which is resilient to climate change, incentivising farmers with government support, and strengthening regional trade.

    The global food system is heavily interconnected. Decisions made in Washington can quickly affect food prices in Lagos, Cairo and New Delhi. And if tariffs go unchecked, they may unleash a silent and subtle crisis – one measured not in GDP, but in millions of empty stomachs.

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

    – ref. Why Donald Trump’s trade tariffs are a threat to global food security – https://theconversation.com/why-donald-trumps-trade-tariffs-are-a-threat-to-global-food-security-255064

    MIL OSI – Global Reports –

  • MIL-OSI: Lloyds Bank PLC: 2025 Q1 Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 01, 2025 (GLOBE NEWSWIRE) —

    Lloyds Bank plc
    Q1 2025 Interim Management Statement
    1 May 2025

    Member of the Lloyds Banking Group

    FORWARD LOOKING STATEMENTS

    This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group’s or its directors’ and/or management’s beliefs and expectations, are forward-looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group’s future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group’s ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally (including in relation to tariffs); imposed and threatened tariffs and changes to global trade policies; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group’s or Lloyds Banking Group plc’s credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group’s securities; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group’s compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Lloyds Bank Group’s or the Lloyds Banking Group’s ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group’s financial statements. A number of these influences and factors are beyond the Lloyds Bank Group’s control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC’s website at www.sec.gov, for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today’s date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.

    FINANCIAL REVIEW

    Income statement

    The Group’s profit before tax for the first three months of 2025 was £1,177 million, 26% lower than the same period in 2024. This was driven by higher operating expenses and a higher impairment charge. Profit after tax was £881 million (three months to 31 March 2024: £1,159 million).

    Total income for the first three months of 2025 was £4,371 million, broadly in line with the same period in 2024 (three months to 31 March 2024: £4,385 million). Net interest income of £3,244 million was up 4% on the prior year (three months to 31 March 2024: £3,127 million), driven by a higher margin and higher average interest-earning assets. Other income decreased by 10% to £1,127 million (three months to 31 March 2024: £1,258 million). The decrease in other income reflected improved performance in UK Motor Finance, with fleet growth and higher average vehicle rental values, which was more than offset by negative market volatility and a reduction in income from fellow Lloyds Banking Group undertakings.

    Total operating expenses of £2,884 million were 6% higher than in the prior year. This reflects higher costs, combining inflationary pressures, timing of strategic investment including planned higher severance front-loaded into the first quarter of 2025 and business growth costs, partly offset by cost savings and continued cost discipline. This is alongside higher operating lease depreciation, as a result of fleet growth, the depreciation of higher value vehicles and declines in used electric car prices over 2024.

    No net remediation charge was recognised by the Group in the first three months of 2025 (three months to 31 March 2024: £25 million). There have been no further charges relating to motor finance commission arrangements. The Supreme Court heard the appeal of the Wrench, Johnson and Hopcraft decision in early April and has stated that it is likely to produce its judgment in July. The FCA has indicated that the decision will inform its next steps in the discretionary commission arrangements (DCA) review and that it will confirm within six weeks of the decision if it is proposing a redress scheme and if so, how it will take that forward. The FCA has also noted that its next steps on non-DCA complaints will be informed by the decision.

    The impairment charge was £310 million, up from £70 million in the three months to 31 March 2024. Asset quality remained resilient in the quarter. The charge included strong portfolio performance in Retail, more than offset by a higher charge in Commercial Banking, partly due to the non-recurrence of a release from loss rates used in the model in 2024. The charge also included a £100 million central adjustment to address downside risks to the base case related to the potential impact from US tariff policies announced at the start of April. These were becoming apparent around the balance sheet date and were determined to not be fully captured within the modelled divisional ECL allowances. This is partially offset by benefits to the MES from small increases to house price and wage growth expectations.

    FINANCIAL REVIEW (continued)

    Balance sheet

    Total assets were £5,143 million, or 1%, higher at £616,356 million at 31 March 2025 (31 December 2024: £611,213 million).

    Financial assets at amortised cost were £3,135 million higher at £508,032 million (31 December 2024: £504,897 million) with increases in loans and advances to customers. This included growth of £4,807 million in UK mortgages and growth across UK Retail unsecured loans, credit cards, UK Motor Finance and the European retail business. Lending balances reduced in Commercial Banking as a result of repayments of government-backed lending. The growth in loans and advances to customers was partly offset by a £908 million reduction in reverse repurchase agreements, a £302 million reduction in loans and advances to banks and a £1,474 million reduction in debt securities.

    Cash and balances at central banks decreased 1% to £42,000 million. Financial assets held at fair value through profit or loss increased by £733 million, due to increased reverse repurchase agreements. Derivative financial assets were £520 million lower at £3,715 million (31 December 2024: £4,235 million), driven by interest rate and currency movements in the period. Financial assets at fair value through other comprehensive income were stable in the period at £30,682 million. Other assets were £1,853 million higher, primarily reflecting increased settlement balances.

    Total liabilities were £3,230 million higher at £574,696 million (31 December 2024: £571,466 million). Customer deposits of £456,574 million increased in the period by £4,780 million. Retail deposits increased by £2,637 million in the period, driven by net inflows to limited withdrawal and fixed term deposits alongside higher current account balances. Commercial Banking deposits were up in the quarter, aided by short term balances.

    Other liabilities increased by £1,034 million reflecting increased settlement balances, while debt securities in issue decreased by £2,789 million, with higher levels of maturities in the period.

    Total equity increased to £41,660 million at 31 March 2025 (31 December 2024: £39,747 million). The increase primarily reflected profit attributable to ordinary shareholders alongside unwind of the cash flow hedge reserve and issuance of an AT1 capital instrument in February 2025 to Lloyds Banking Group plc.

    Capital

    The Group’s common equity tier 1 (CET1) capital ratio reduced to 13.6% at 31 March 2025 from 13.7% at 31 December 2024. Profit for the first three months of the year was offset by the accrual for foreseeable ordinary dividends and an increase in risk-weighted assets.

    The Group’s total capital ratio at 31 March 2025 remained at 19.9% (31 December 2024: 19.9%). The increase in CET1 capital and the issuance of a new AT1 capital instrument were offset by the increase in risk-weighted assets and a reduction in tier 2 capital reflecting an instrument call and other movements.

    Risk-weighted assets increased by £3,955 million to £190,951 million at 31 March 2025 from £186,996 million at 31 December 2024. This reflects the impact of lending growth, but also includes a temporary c.£2.5 billion increase primarily due to hedging activity that is expected to reverse by the third quarter. The growth in risk-weighted assets was partly offset by continued optimisation activity and other movements.

    The Group’s UK leverage ratio increased to 5.5% at 31 March 2025 from 5.4% at 31 December 2024, reflecting an increase in the total tier 1 capital position, partially offset by an increase in the leverage exposure measure. The latter reflects increases across loans and advances and other assets, due in part to lending growth, partially offset by a reduction in the measure for securities financing transactions.

     
    CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)
               
      Three
    months
    ended
    31 Mar
    2025
    £m    		     Three
    months
    ended
    31 Mar
    2024
    £m    		  
           
    Net interest income 3,244     3,127  
    Other income 1,127     1,258  
    Total income 4,371     4,385  
    Operating expenses (2,884 )   (2,728 )
    Impairment (310 )   (70 )
    Profit before tax 1,177     1,587  
    Tax expense (296 )   (428 )
    Profit after tax 881     1,159  
           
    Profit attributable to ordinary shareholders 774     1,069  
    Profit attributable to other equity holders 98     86  
    Profit attributable to equity holders 872     1,155  
    Profit attributable to non-controlling interests 9     4  
    Profit after tax 881     1,159  
               
     
    CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
               
      At 31 Mar
    2025
    £m    		     At 31 Dec
    2024
    £m    		  
               
    Assets          
    Cash and balances at central banks 42,000     42,396  
    Financial assets at fair value through profit or loss 3,054     2,321  
    Derivative financial instruments 3,715     4,235  
    Financial assets at amortised cost 508,032     504,897  
    Financial assets at fair value through other comprehensive income 30,682     30,344  
    Other assets 28,873     27,020  
    Total assets 616,356     611,213  
    Liabilities          
    Deposits from banks 3,899     3,144  
    Customer deposits 456,574     451,794  
    Repurchase agreements 38,474     37,760  
    Due to fellow Lloyds Banking Group undertakings 3,981     4,049  
    Financial liabilities at fair value through profit or loss 4,538     4,630  
    Derivative financial instruments 5,327     5,787  
    Debt securities in issue at amortised cost 42,492     45,281  
    Other liabilities 12,844     11,810  
    Subordinated liabilities 6,567     7,211  
    Total liabilities 574,696     571,466  
    Total equity 41,660     39,747  
    Total equity and liabilities 616,356     611,213  
               

    ADDITIONAL FINANCIAL INFORMATION

    1.  Basis of presentation

    This release covers the results of Lloyds Bank plc together with its subsidiaries (the Group) for the three months ended 31 March 2025.

    The Group’s Q1 2025 Interim Pillar 3 Disclosures can be found at: www.lloydsbankinggroup.com/investors/financial-downloads.html.

    Accounting policies

    The accounting policies are consistent with those applied by the Group in its 2024 Annual Report and Accounts.

    2.  Loans and advances to customers and expected credit loss allowance

    At 31 March 2025 Stage 1
    £m    		     Stage 2
    £m    		   Stage 3
    £m    		   POCI
    £m    		   Total
    £m    		     Stage 2
    as % of
    total    		   Stage 3
    as % of
    total
    Loans and advances to customers                          
    UK mortgages 275,816     31,912   4,137   6,016   317,881     10.0   1.3
    Credit cards 13,875     2,327   261   –   16,463     14.1   1.6
    UK unsecured loans and overdrafts 9,660     1,325   171   –   11,156     11.9   1.5
    UK Motor Finance 14,197     2,491   131   –   16,819     14.8   0.8
    Other 18,462     471   151   –   19,084     2.5   0.8
    Retail 332,010     38,526   4,851   6,016   381,403     10.1   1.3
    Business and Commercial Banking 25,778     2,946   1,160   –   29,884     9.9   3.9
    Corporate and Institutional Banking 36,705     2,528   1,007   –   40,240     6.3   2.5
    Commercial Banking 62,483     5,474   2,167   –   70,124     7.8   3.1
    Other1 (414 )   –   –   –   (414 )        
    Total gross lending 394,079     44,000   7,018   6,016   451,113     9.8   1.6
                               
    Customer related ECL allowance (drawn and undrawn)
    UK mortgages 52     245   322   179   798          
    Credit cards 199     308   130   –   637          
    UK unsecured loans and overdrafts 167     240   114   –   521          
    UK Motor Finance2 170     118   75   –   363          
    Other 14     14   38   –   66          
    Retail 602     925   679   179   2,385          
    Business and Commercial Banking 133     183   172   –   488          
    Corporate and Institutional Banking 108     149   323   –   580          
    Commercial Banking 241     332   495   –   1,068          
    Other3 50     50   –   –   100          
    Total 893     1,307   1,174   179   3,553          
                               
    Customer related ECL allowance (drawn and undrawn) as a percentage of loans and advances to customers
      Stage 1
    %    		     Stage 2
    %    		   Stage 3
    %    		   POCI
    %    		   Total
    %    		          
    UK mortgages –     0.8   7.8   3.0   0.3          
    Credit cards 1.4     13.2   49.8   –   3.9          
    UK unsecured loans and overdrafts 1.7     18.1   66.7   –   4.7          
    UK Motor Finance 1.2     4.7   57.3   –   2.2          
    Other 0.1     3.0   25.2   –   0.3          
    Retail 0.2     2.4   14.0   3.0   0.6          
    Business and Commercial Banking 0.5     6.2   14.8   –   1.6          
    Corporate and Institutional Banking 0.3     5.9   32.1   –   1.4          
    Commercial Banking 0.4     6.1   22.8   –   1.5          
    Other         –   –            
    Total 0.2     3.0   16.7   3.0   0.8          
                                   

    1 Contains central fair value hedge accounting adjustments.
    2 UK Motor Finance includes £178 million relating to provisions against residual values of vehicles subject to finance leases.
    3 Other includes a £100 million central adjustment that has not been allocated to specific portfolios.

    ADDITIONAL FINANCIAL INFORMATION (continued)

    3.  UK economic assumptions

    Base case and MES economic assumptions

    The Group’s base case scenario is for a slow expansion in gross domestic product (GDP) and a modest rise in the unemployment rate alongside small gains in residential and commercial property prices. Inflationary pressures remain persistent, but gradual cuts in UK Bank Rate are expected to continue during 2025. Risks around this base case economic view lie in both directions and are largely captured by the generation of alternative economic scenarios.

    The Group has taken into account the latest available information at the reporting date in defining its base case scenario and generating alternative economic scenarios. The scenarios include forecasts for key variables as of the first quarter of 2025. Actuals for this period, or restatements of past data, may have since emerged prior to publication and have not been included. The Group’s approach to generating alternative economic scenarios is set out in detail in note 19 to the financial statements of the Group’s 2024 annual report and accounts.

    The Group had included assumptions for expected tariffs and potential responses in its quarter-end base case conditioning assumptions prior to announcements at the start of April. Initial non-UK tariffs announced in the first few days of April and the immediate market response were larger than expected. Accordingly, the Group has adopted a £100 million central adjustment to reflect the potential ECL impact, informed by high level sensitivity to key UK economic metrics based on tariff scenarios. Subsequent developments through April were judged to relate to conditions after the balance sheet date and will be reflected in the second quarter reporting period.

    UK economic assumptions – base case scenario by quarter

    Key quarterly assumptions made by the Group in the base case scenario are shown below. GDP growth is presented quarter-on-quarter. House price growth, commercial real estate price growth and CPI inflation are presented year-on-year, i.e. from the equivalent quarter in the previous year. Unemployment rate and UK Bank Rate are presented as at the end of each quarter.

    At 31 March 2025 First
    quarter
    2025
    %    		 Second
    quarter
    2025
    %    		 Third
    quarter
    2025
    %    		 Fourth
    quarter
    2025
    %    		 First
    quarter
    2026
    %    		 Second
    quarter
    2026
    %    		 Third
    quarter
    2026
    %    		 Fourth
    quarter
    2026
    %
                     
    Gross domestic product growth 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4
    Unemployment rate 4.6 4.7 4.8 4.8 4.8 4.8 4.8 4.8
    House price growth 3.8 3.8 2.4 1.7 1.3 1.7 1.9 1.8
    Commercial real estate price growth 2.6 2.8 2.7 1.3 0.9 0.7 0.8 1.1
    UK Bank Rate 4.50 4.25 4.00 4.00 3.75 3.75 3.50 3.50
    CPI inflation 2.8 3.6 3.6 3.5 3.0 2.8 2.6 2.7
                     

    ADDITIONAL FINANCIAL INFORMATION (continued)

    3.  UK economic assumptions (continued)

    UK economic assumptions – scenarios by year

    Key annual assumptions made by the Group are shown below. GDP growth and CPI inflation are presented as an annual change, house price growth and commercial real estate price growth are presented as the growth in the respective indices within the period. Unemployment rate and UK Bank Rate are averages for the period.

    At 31 March 2025 2025
    %    		   2026
    %    		   2027
    %    		   2028
    %    		   2029
    %    		   2025-2029
    average
    %    		  
                 
    Upside            
    Gross domestic product growth 1.3   2.2   1.6   1.5   1.4   1.6  
    Unemployment rate 4.1   3.2   3.1   3.1   3.2   3.3  
    House price growth 2.9   5.9   6.8   5.4   4.3   5.1  
    Commercial real estate price growth 6.1   5.7   2.6   1.0   0.4   3.2  
    UK Bank Rate 4.43   4.72   4.86   5.06   5.20   4.85  
    CPI inflation 3.3   2.8   2.8   3.1   3.0   3.0  
                 
    Base case            
    Gross domestic product growth 0.8   1.4   1.6   1.6   1.5   1.3  
    Unemployment rate 4.7   4.8   4.6   4.5   4.5   4.6  
    House price growth 1.7   1.8   1.9   2.5   2.9   2.1  
    Commercial real estate price growth 1.3   1.1   1.2   0.6   0.3   0.9  
    UK Bank Rate 4.19   3.63   3.50   3.50   3.50   3.66  
    CPI inflation 3.4   2.8   2.5   2.5   2.4   2.7  
                 
    Downside            
    Gross domestic product growth (0.2 ) (0.9 ) 0.9   1.5   1.5   0.6  
    Unemployment rate 5.6   7.4   7.6   7.3   7.0   7.0  
    House price growth 0.5   (3.4 ) (6.7 ) (4.2 ) (1.1 ) (3.0 )
    Commercial real estate price growth (4.7 ) (5.7 ) (1.7 ) (2.2 ) (2.3 ) (3.4 )
    UK Bank Rate 3.83   1.67   0.96   0.65   0.42   1.51  
    CPI inflation 3.4   2.8   2.0   1.5   1.0   2.1  
                 
    Severe downside            
    Gross domestic product growth (1.1 ) (2.3 ) 0.7   1.4   1.5   0.0  
    Unemployment rate 6.8   10.0   10.2   9.7   9.3   9.2  
    House price growth (0.6 ) (8.4 ) (13.8 ) (9.6 ) (5.0 ) (7.6 )
    Commercial real estate price growth (12.5 ) (13.3 ) (7.1 ) (5.7 ) (4.9 ) (8.8 )
    UK Bank Rate – modelled 3.38   0.39   0.09   0.03   0.01   0.78  
    UK Bank Rate – adjusted1 4.25   2.94   2.80   2.76   2.75   3.10  
    CPI inflation – modelled 3.4   2.5   1.3   0.4   (0.2 ) 1.5  
    CPI inflation – adjusted1 3.8   3.8   3.2   2.7   2.4   3.2  
                 
    Probability-weighted            
    Gross domestic product growth 0.5   0.6   1.3   1.5   1.5   1.1  
    Unemployment rate 5.0   5.6   5.6   5.4   5.4   5.4  
    House price growth 1.4   0.5   (0.8 ) 0.1   1.3   0.5  
    Commercial real estate price growth (0.4 ) (1.0 ) (0.1 ) (0.7 ) (1.0 ) (0.6 )
    UK Bank Rate – modelled 4.07   3.04   2.81   2.76   2.74   3.08  
    UK Bank Rate – adjusted1 4.16   3.30   3.08   3.04   3.01   3.32  
    CPI inflation – modelled 3.4   2.7   2.3   2.1   1.9   2.5  
    CPI inflation – adjusted1 3.4   2.9   2.5   2.4   2.2   2.7  
                             
    1 The adjustment to UK Bank Rate and CPI inflation in the severe downside is considered to better reflect the risks to the Group’s base case view in an economic environment where the risks of supply and demand shocks are seen as more balanced.
                             

    CONTACTS

    For further information please contact:

    INVESTORS AND ANALYSTS
    Douglas Radcliffe
    Group Investor Relations Director
    020 7356 1571
    douglas.radcliffe@lloydsbanking.com

    Rohith Chandra-Rajan
    Director of Investor Relations
    07786 988936
    rohith.chandra-rajan@lloydsbanking.com

    Nora Thoden
    Director of Investor Relations – ESG
    020 7356 2334
    nora.thoden@lloydsbanking.com

    Tom Grantham
    Investor Relations Senior Manager
    07851 440 091
    thomas.grantham@lloydsbanking.com

    Sarah Robson
    Investor Relations Senior Manager
    07494 513 983
    sarah.robson2@lloydsbanking.com

    CORPORATE AFFAIRS
    Matt Smith
    Head of Media Relations
    07788 352 487
    matt.smith@lloydsbanking.com

    Emma Fairhurst
    Media Relations Senior Manager
    07814 395 855
    emma.fairhurst@lloydsbanking.com

    Copies of this Interim Management Statement may be obtained from:
    Investor Relations, Lloyds Banking Group plc, 33 Old Broad Street, London, EC2N 1HZ
    The statement can also be found on the Group’s website – www.lloydsbankinggroup.com

    Registered office: Lloyds Bank plc, 25 Gresham Street, London, EC2V 7HN
    Registered in England No. 2065

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI: United Community Banks, Inc. Announces Completion of Merger With ANB Holdings, Inc., The Parent of American National Bank

    Source: GlobeNewswire (MIL-OSI)

    GREENVILLE, S.C., May 01, 2025 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NYSE: UCB) (“United”) completed its merger with ANB Holdings, Inc. (“ANB”) effective May 1, 2025. In this transaction, ANB’s wholly-owned bank subsidiary, American National Bank (“ANB Bank”), was also merged into United’s bank subsidiary, United Community Bank (“United Community”). ANB Bank will operate under the United Community brand after all core systems, signage, and branding are converted to those of United Community on the weekend of July 11, 2025.

    ANB Bank is headquartered in Oakland Park, Florida, a northern and fast-growing part of the Miami metropolitan area. Founded in 1985, ANB Bank primarily services Miami Dade, Broward, and Palm Beach Counties. It is a premier franchise with an experienced management team led by President and Chief Executive Officer Ginger Martin. ANB Bank’s high-touch customer service is delivered to retail and business customers through one location on North Federal Highway in Oakland Park. As of March 31, 2025, ANB Bank reported total assets of $452 million, with total loans of $317 million, and total deposits of $387 million, of which over $300 million are non-CD core deposits.

    “We are delighted to welcome American National Bank’s outstanding group of bankers to the United Community team. We’ve been working closely with this group for some time now, and we continue to be impressed with their community-focused, service-first approach to banking. The cultural alignment between our teams is very strong,” said Lynn Harton, Chairman and Chief Executive Officer of United. “This partnership will add a customer service focused hub in an attractive market. We look forward to continuing to invest in growth, employee engagement, and community development in the South Florida market.”

    Ginger Martin, President and Chief Executive Officer of ANB Bank, stated, “We have built an outstanding banking franchise in South Florida, and we are excited to move into this next phase of our growth in partnership with United Community. The alignment of our values and priorities, combined with a larger balance sheet and expanded product offerings, will ensure that we continue to provide excellent service to our customers and meaningfully contribute to our community.”

    Stephens Inc. acted as financial advisor to United, and Wachtell, Lipton, Rosen & Katz served as United’s legal advisor. Hovde Group, LLC served as ANB’s financial advisor, and Smith Mackinnon, PA served as ANB’s legal advisor.

    About United Community Banks, Inc.
    United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of March 31, 2025, United Community Banks, Inc. had $27.9 billion in assets and operated 200 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise and a national equipment finance subsidiary, extending its reach to businesses across the country. United is an 11-time winner of J.D. Power’s award for highest customer satisfaction among consumer banks in the Southeast and was named the most trusted bank in the region in 2025. The company has also been recognized eight consecutive years by American Banker as one of the “Best Banks to Work For.” In commercial banking, United earned five 2025 Greenwich Best Brand awards, including national honors for middle market satisfaction. Forbes has consistently named United among the World’s Best and America’s Best Banks. Learn more at ucbi.com.

    Caution About Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, and include statements related to expected benefits of the merger and the timing of conversion. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.

    Factors that could cause or contribute to such differences include, but are not limited to (1) the risk that the cost savings and any revenue synergies from the merger may not be realized or take longer than anticipated to be realized, (2) disruption from the merger of customer, supplier, employee or other business partner relationships, (3) reputational risk and the reaction of each of the companies’ customers, suppliers, employees or other business partners to the merger, (4) risks relating to the integration of ANB’s operations into the operations of United, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (5) risks associated with United’s pursuit of future acquisitions, (6) the risks associated with expansion into new geographic or product markets, and (7) general competitive, economic, political and market conditions. Further information regarding additional factors which could affect the forward-looking statements can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents subsequently filed by United with the U.S. Securities and Exchange Commission.

    Many of these factors are beyond United’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and United undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for United to predict their occurrence or how they will affect United.

    United qualifies all forward-looking statements by these cautionary statements.

    For more information:
    Jefferson Harralson
    Chief Financial Officer
    (864) 240-6208
    Jefferson_Harralson@ucbi.com

    The MIL Network –

  • MIL-OSI USA: Disaster Recovery Center Opens in Carroll County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Carroll County

    Disaster Recovery Center Opens in Carroll County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Carroll County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Carroll County is located at:Carrollton Utilities Operations, 900 Clay St

    , Carrollton, KY 41008 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

     FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    minh

    phan
    Wed, 04/30/2025 – 20:03

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Owen County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Owen County

    Disaster Recovery Center Opens in Owen County

    FRANKFORT, Ky

    –A Disaster Recovery Center has opened in Owen County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Owen County is located at:Three Rivers District Health Department, 60 Old Monterey Road, Owenton, KY 40359 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

     FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

    To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

     You don’t have to visit a center to apply for FEMA assistance

    There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    minh

    phan
    Wed, 04/30/2025 – 20:02

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Butler County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Butler County

    Disaster Recovery Center Opens in Butler County

    FRANKFORT, Ky

    – A Disaster Recovery Center will open in Butler County at 1 p

    m

    April 30 to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Butler County is located at:Gasper River Association of Baptists, 530 Helm Lane, Morgantown, KY 42261 Working hours are 1 – 7 p

    m

    Central Time April 30, and then 9 a

    m

    to 7 p

    m

    Central Time, Monday through Saturday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    minh

    phan
    Wed, 04/30/2025 – 20:16

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Christian County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Christian County

    Disaster Recovery Center Opens in Christian County

    FRANKFORT, Ky

    – A Disaster Recovery Center is opening in Christian County at 1 p

    m

    on April 30 to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Christian County is located at:Murray State University Classrooms #207, #209, #213, 5305 Ft

    Campbell Blvd

    , Hopkinsville, KY 42240 Working hours are 1 – 7 p

    m

    Central Time April 30, and then 9 a

    m

    to 7 p

    m

    Central Time, Monday through Saturday and 1 – 7 p

    m

    Central Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    minh

    phan
    Wed, 04/30/2025 – 20:11

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in McCracken County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in McCracken County

    Disaster Recovery Center Opens in McCracken County

    FRANKFORT, Ky

    – A Disaster Recovery Center will open in McCracken County at 1 p

    m

    on April 30 to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in McCracken County is located at:McCracken County Emergency Management Complex Training Room, 3700 Coleman Road, Paducah, KY 42001 Working hours are 1 – 7 p

    m

    Central Time April 30, and then 9 a

    m

    to 7 p

    m

    Central Time, Monday through Saturday and 1 – 7 p

    m

    Central Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

     FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    minh

    phan
    Wed, 04/30/2025 – 20:08

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center in Johnson County To Permanently Close, Help Is Still Available

    Source: US Federal Emergency Management Agency 2

    strong>FRANKFORT, Ky. – The Disaster Recovery Center in Johnson County is permanently closing at 7 p.m. April 30.
     
    The Disaster Recovery Center in Johnson County is located at:
     
    KCTCS Mayo Campus, Auditorium Building C, 508 Third St., Paintsville, KY 41240 
    Working hours are 9 a.m. to 7 p.m. Eastern Time, Monday through Wednesday.
    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs. Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U.S. Small Business Administration (SBA) will also be available at the recovery centers to assist survivors.
    Click here to find centers that are already open in Kentucky. You can visit any open center to meet with representatives of FEMA, the Commonwealth of Kentucky and the U.S. Small Business Administration. No appointment is needed. 
    Kentucky homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson and Woodford counties can apply for federal assistance.
    You can visit any Disaster Recovery Center to get in-person assistance. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362.
    You don’t have to visit a center to apply for FEMA assistance. There are other ways to apply: online at DisasterAssistance.gov, use the FEMA App for mobile devices or call 800-621-3362. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service.
    When you apply, you will need to provide:

    A current phone number where you can be contacted.
    Your address at the time of the disaster and the address where you are now staying.
    Your Social Security Number.
    A general list of damage and losses.
    Banking information if you choose direct deposit.
    If insured, the policy number or the agent and/or the company name.

    For an accessible video on how to apply for FEMA assistance, go to youtube.com/watch?v=WZGpWI2RCNw.
    For more information about Kentucky flooding recovery, visit www.fema.gov/disaster/4860. Follow the FEMA Region 4 X account at x.com/femaregion4.

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Mercer County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Mercer County

    Disaster Recovery Center Opens in Mercer County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Mercer County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Mercer County is located at: Mercer County Health Department, 900 N

    College St

    , Harrodsburg, KY 40330 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    Apply Separately for Each DisasterWhen two or more disasters are declared in the same state, FEMA ensures survivors receive all eligible assistance while preventing a duplication of federal benefits

    Disaster survivors affected by multiple disasters should apply with FEMA separately for each individual disaster

     When applying for FEMA assistance, be sure to specify the damage and the date it occurred to ensure you are applying under the correct declaration number

    DR-4860-KY for the severe storms, straight-line winds, landslides and mudslides that occurred from Feb14 – March 7

    Homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson, Woodford counties may be eligible

    The deadline to apply under DR-4860-KY is May 25

    DR-4864-KY for the severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides that occurred on April 2 and continuing

    Homeowners and renters in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties may be eligible

     Homeowners and renters in Woodford County may be eligible for federal assistance under DR-4860-KY or/and DR-4864-KY

    If you had property damage or loss in Woodford County from the February severe incident, and then again from the April severe incident, you will need to complete two separate disaster assistance applications

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 04/29/2025 – 14:07

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Anderson County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Anderson County

    Disaster Recovery Center Opens in Anderson County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Anderson County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

     The new Disaster Recovery Center in Anderson County is located at: Anderson County Community Center, 1026 County Park Road, Lawrenceburg, KY 40342 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1-7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    You can visit any open center to meet with representatives of FEMA, the Commonwealth of Kentucky and the U

    S

    Small Business Administration

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    If you are unable to visit a center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    Apply Separately for Each DisasterWhen two or more disasters are declared in the same state, FEMA ensures survivors receive all eligible assistance while preventing a duplication of federal benefits

    Disaster survivors affected by multiple disasters should apply with FEMA separately for each individual disaster

     When applying for FEMA assistance, be sure to specify the damage and the date it occurred to ensure you are applying under the correct declaration number

    DR-4860-KY for the severe storms, straight-line winds, landslides and mudslides that occurred from February 14 – March 7

    Homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson, Woodford counties may be eligible

    The deadline to apply under DR-4860-KY is May 25

    DR-4864-KY for the severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides that occurred on April 2 and continuing

    Homeowners and renters in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties may be eligible

    The deadline to apply under DR-4864-KY is June 25

    Homeowners and renters in Woodford County may be eligible for federal assistance under DR-4860-KY or/and DR-4864-KY

    If you had property damage or loss in Woodford County from the February severe incident, and then again from the April severe incident, you will need to complete two separate disaster assistance applications

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 04/29/2025 – 13:24

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Clark County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Clark County

    Disaster Recovery Center Opens in Clark County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Clark County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Clark County is located at: Clark County Emergency Operations Center, 200 Maryland Ave

    , Winchester, KY 40391 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    Apply Separately for Each DisasterWhen two or more disasters are declared in the same state, FEMA ensures survivors receive all eligible assistance while preventing a duplication of federal benefits

    Disaster survivors affected by multiple disasters should apply with FEMA separately for each individual disaster

     When applying for FEMA assistance, be sure to specify the damage and the date it occurred to ensure you are applying under the correct declaration number

    DR-4860-KY for the severe storms, straight-line winds, landslides and mudslides that occurred from Feb14 – March 7

    Homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson, Woodford counties may be eligible

    The deadline to apply under DR-4860-KY is May 25

    DR-4864-KY for the severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides that occurred on April 2 and continuing

    Homeowners and renters in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties may be eligible

     Homeowners and renters in Woodford County may be eligible for federal assistance under DR-4860-KY or/and DR-4864-KY

    If you had property damage or loss in Woodford County from the February severe incident, and then again from the April severe incident, you will need to complete two separate disaster assistance applications

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 04/29/2025 – 13:59

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Jessamine County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Jessamine County

    Disaster Recovery Center Opens in Jessamine County

    FRANKFORT, Ky

    – A Disaster Recovery Center has opened in Jessamine County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Jessamine County is located at: Jessamine County Senior Citizens Center, 111 Hoover Drive, Nicholasville, KY 40356 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

    You don’t have to visit a center to apply for FEMA assistance

     There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    Apply Separately for Each DisasterWhen two or more disasters are declared in the same state, FEMA ensures survivors receive all eligible assistance while preventing a duplication of federal benefits

    Disaster survivors affected by multiple disasters should apply with FEMA separately for each individual disaster

     When applying for FEMA assistance, be sure to specify the damage and the date it occurred to ensure you are applying under the correct declaration number

    DR-4860-KY for the severe storms, straight-line winds, landslides and mudslides that occurred from Feb14 – March 7

    Homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson, Woodford counties may be eligible

    The deadline to apply under DR-4860-KY is May 25

    DR-4864-KY for the severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides that occurred on April 2 and continuing

    Homeowners and renters in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties may be eligible

     Homeowners and renters in Woodford County may be eligible for federal assistance under DR-4860-KY or/and DR-4864-KY

    If you had property damage or loss in Woodford County from the February severe incident, and then again from the April severe incident, you will need to complete two separate disaster assistance applications

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 04/29/2025 – 13:57

    MIL OSI USA News –

  • MIL-OSI: Old National Completes Closing of Bremer Bank Partnership

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., May 01, 2025 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (“Old National”) today announced the closing of its previously-announced merger with St. Paul, Minnesota-based Bremer Financial Corporation (“Bremer”), the bank holding company for Bremer Bank, as of May 1, 2025.

    “This partnership represents an outstanding fit between two highly compatible, relationship- and community-focused banks,” said Old National Chairman and CEO Jim Ryan. “We are extremely pleased to have reached this important milestone, and we are excited about continuing our collaborative work to ensure that we are ‘Better Together’ and poised to exceed the expectations of our clients, team members, communities and shareholders.”

    After closing of the merger, Old National has approximately $70 billion of assets and $37 billion of assets under management (on a pro forma basis using data as of March 31, 2025), making it among the top 25 banking companies headquartered in the U.S.

    Bremer Bank will operate as a division of Old National Bank prior to the facilities and systems conversion, which is anticipated to occur in mid-October 2025.

    The combined organization will operate under the Old National Bancorp and Old National Bank names. Clients will continue to be served through their respective Old National or Bremer branches, websites, mobile apps, financial advisors and relationship managers until the systems conversion is complete. For convenience, clients can continue to use the full ATM network of both banks for cash withdrawals at no charge.

    Increased Community Growth Plan commitment
    In recognition of Old National’s deep commitment to the communities served by Bremer Bank, Old National will increase its previous five-year Community Growth Plan commitments of $9.5 billion to $11.1 billion. This adds approximately $1.6 billion in lending, investments and philanthropy commitments in Minnesota, North Dakota, and Wisconsin.

    Daniel Reardon to join Old National Bancorp Board
    The partnership between Old National and Bremer will also see the addition of Daniel Reardon to the Old National Board of Directors. As co-CEO and trustee of Otto Bremer Trust in St. Paul, Minnesota, Reardon has decades of experience in executive management, philanthropy, and banking.

    Since joining the Otto Bremer Trust in January 1995, Reardon has guided the Trust’s investments and charitable distributions, including $8.4 million in the latest grant cycle, to benefit the communities in Minnesota, North Dakota, Wisconsin, and Montana. He also served on the boards of directors of Bremer and Bremer Bank.

    ABOUT OLD NATIONAL
    Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $70 billion of assets and $37 billion of assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2024, Points of Light named Old National one of “The Civic 50” — an honor reserved for the 50 most community-minded companies in the United States.

    FORWARD-LOOKING STATEMENTS
    Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the outlook and expectations of Old National. In general, forward-looking statements usually may be identified through use of words such as “may,” “will,” “could,” “should,” “would,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “continue” and “potential,” as well as words of similar meaning, and include statements related to expected benefits of the Bremer merger. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results or outcomes may prove to be materially different from the results or outcomes expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.

    Factors which could cause or contribute to such differences or could affect the forward-looking statements can be found in the cautionary language included under the headings “Forward-Looking Statements” and “Risk Factors” in Old National’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents subsequently filed by Old National with the U.S. Securities and Exchange Commission.

    Many of these factors are beyond Old National’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results or outcomes may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and Old National undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for Old National to predict their occurrence or how they will affect Old National.

    Investor Relations:
    Lynell Durchholz
    (812) 464-1366
    lynell.durchholz@oldnational.com

    Media Relations:
    Rick Vach
    (904) 535-9489
    rick.vach@oldnational.com

    The MIL Network –

  • MIL-Evening Report: Grattan on Friday: Key markers on the bumpy road to this election

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    When we look back, we can see the road to election day has had a multitude of signposts, flashing red lights, twists, turns and potholes. Some came before the formal campaign; others in the final countdown days; some have been major, others symbolic.

    The importance of certain markers has been obvious in the moment; the significance of others became clear in retrospect. Here is a recap of a few of those that have shaped this campaign and its battle for votes.

    1. Anthony Albanese’s January 6 $7.2 billion announcement to upgrade the Bruce Highway

    Why start here? Because this was the prime minister jumping out of the blocks at the start of January, with multiple announcements over the summer. Albanese laid down policy groundwork in these weeks, giving voters time to absorb the initiatives.

    In contrast, Peter Dutton, although he had a “soft” launch on January 12, was running slowly, believing voters weren’t yet paying attention.

    2. Donald Trump’s inauguration

    January 21 unleashed a tsunami; its waves would wash over the coming months, and profoundly affect the election. At first, the Coalition thought – wrongly – that the election of Trump would favour it, but Labor became the beneficiary. Many Australians (including Dutton) were appalled at the way Trump and Vice President JD Vance treated Ukraine President Volodymyr Zelensky. Later, Trump’s tariffs hit Australia (although not as hard as many countries).

    Dutton argued he’d be better able than Albanese to handle the capricious president, but it became a spurious debate. Labor painted Dutton as Trump-lite and some of his decisions played into its hands, notably appointing in late January Senator Jacinta Nampijinpa Price to a Musk-like role to pursue efficiencies in government. She later made the comparison even more obvious by saying the Coalition would “make Australia great again”.

    But the central factor was this: suddenly, the world had become more uncertain and many voters would think it wasn’t the time to change.

    3. The Reserve Bank’s cut in interest rates on February 18

    The amount was modest, 25 basis points, but the psychology was the thing. The cut reinforced Treasurer Jim Chalmers’ argument that the worst was over and the outlook was positive. In the campaign’s final week, just at the right time for the government, inflation figures pointed to another expected cut in May.

    4. Cyclone Alfred’s March 7 election delay

    Albanese appeared set to call an April 12 poll, when the approaching winds blew the plan off course. The prime minister was able to put himself at the middle of the response to the cyclone, projecting himself as a national leader as distinct from a partisan one; he appeared with Queensland LNP Premier David Crisafulli, and at the Canberra National Situation Room.

    The election delay meant Labor had to bring down the March 25 budget. Many in the government had wanted to avoid a budget, because of its deficits into the distance. But the budget became a useful frame for the start of the formal campaign, with Albanese going to Government House at the end of budget week.

    5. Dutton’s budget reply

    The opposition leader’s reply contained his proposal to cut petrol excise but did not include tax cuts. The opposition had already voted against the government’s budget tax cut package, and committed to repealing it.

    The excise move was popular – Dutton would visit countless service stations over coming weeks – but the government was able to say a Coalition government would raise taxes.

    At his campaign launch subsequently, Dutton promised a $1,200 tax offset, despite earlier flagging he would not be able to announce any income tax relief during the campaign. The tax offset was an attempt to rectify what had been the mistake of thinking that the Coalition – traditionally committed to lower taxes – could go to the election on the wrong side of the tax argument.

    6. Dutton’s April 7 backtrack on working from home

    The opposition policy to get public servants back into the office all week was a disaster-in-the-making from the start. Workers in the private sector would, rightly, see it as sending a signal to non-government employers.

    Women hated the policy, and it would further alienate the female vote. Dutton had to ditch the idea and apologise. Finance spokeswoman Jane Hume didn’t help the retreat by saying it was a good policy that hadn’t found its appropriate time.

    7. News on April 15 that the Russians wanted to base planes in Papua

    The story appeared on the respected military site Janes, and Dutton rushed to pick it up, but went off half-cocked, declaring wrongly that the Indonesian president Prabowo Subianto had announced the Russian request. It was symptomatic of Dutton being under-prepared. He had to make another apology.

    8. Neo-Nazis heckle during the Welcome to Country at the Melbourne Shrine of Remembrance Anzac Day Dawn Service

    This led to Dutton launching into “culture wars” in the final days of the campaign. In criticising the disruption, he at first said, “We have a proud Indigenous heritage in this country and we should be proud to celebrate it as part of today”.

    Subsequently he said most veterans didn’t want the Welcome to Country as part of the Anzac Day ceremonies, although it was a matter for the organisers. In general, he believed Welcome to Country ceremonies were used too frequently.

    Dutton segued the controversy back to criticism of the Voice, and seized on confusing remarks by Foreign Minister Penny Wong to claim Labor was still committed to bringing in a Voice, something Albanese flatly denied.

    9. The price of eggs

    In the last of the four debates neither leader could specify the cost of a dozen eggs. Dutton was way out ($4.20); Albanese rather closer (“$7, if you can find them.”. It was a small moment but sent the message that even in a cost-of-living election, the leaders do live in bubbles.

    10. Dutton comments on Thursday

    Almost at the road’s end, the opposition leader appealed to voters to overlook a flawed campaign. “This election really is a referendum not about the election campaign but about the last three years.”

    Asked if there was anything he could have done differently, he said “we should have called out Labor’s lies earlier on”.

    It was as though he was speaking to a postmortem, while praying for a miracle.

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

    – ref. Grattan on Friday: Key markers on the bumpy road to this election – https://theconversation.com/grattan-on-friday-key-markers-on-the-bumpy-road-to-this-election-255613

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: FTC Solar Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • First quarter revenue of $20.8 million, up 58% q/q, above target
    • Cost efficiencies drive operating expenses to multi-year low
    • Seeing increased customer interest and activity including bid activity up 60% y/y
    • Upsized promissory note offering expected to close in Q2
    • Strengthened Board of Directors with addition of two new members

    AUSTIN, Texas, May 01, 2025 (GLOBE NEWSWIRE) — FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, today announced financial results for the first quarter that ended March 31, 2025.

    “We’re pleased to report first quarter results which were ahead of target mid-points on all metrics,” said Yann Brandt, President and Chief Executive Officer of FTC Solar. “In recent months we have added multiples of our current annual revenue run rate to our backlog, signed agreements totaling more than 6.5 gigawatts with Tier 1 customers, added incremental liquidity for our balance sheet, strengthened our sales team, further strengthened our product offering and capabilities, and increased our commercial traction with bids on many gigawatts of future projects. 

    “Much of our recent momentum has been driven by the significant expansion of our innovative and differentiated 1P product line, including high wind offerings up to 150mph, terrain-following options, large stow range, compatibility across module manufacturers and types, and the upcoming availability of 100% domestic content. This compelling product line has helped drive significant increases in customer visits, bidding volume, average project size and customer access.

    “Overall, I’m bullish on the long-term potential and prospects for FTC Solar. We’re well positioned in a growth market to take significant share, with the right combination of people and products, providing the best value for our customers. Our priority is to demonstrate continued progress and convert the increased customer interest and wins into sustainable growth and profitability.”

    Summary Financial Performance: Q1 2025 compared to Q1 2024

        U.S. GAAP     Non-GAAP(c)  
        Three months ended March 31,  
    (in thousands, except per share data)   2025     2024     2025     2024  
    Revenue   $ 20,803     $ 12,587     $ 20,803     $ 12,587  
    Gross margin percentage     (16.6 %)     (16.7 %)     (14.4 %)     (13.7 %)
    Total operating expenses   $ 7,113     $ 10,394     $ 6,645     $ 8,702  
    Loss from operations(a)   $ (10,560 )   $ (12,502 )   $ (9,750 )   $ (10,655 )
    Net loss   $ (3,819 )   $ (8,771 )   $ (10,801 )   $ (10,873 )
    Diluted loss per share(b)   $ (0.58 )   $ (0.70 )   $ (0.84 )   $ (0.87 )
      (a)   Adjusted EBITDA for Non-GAAP
      (b)   Prior year amounts per share have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024
      (c)   See below for reconciliation of Non-GAAP financial measures to the nearest comparable GAAP measures
           

    The contracted portion of the company’s backlog1 now stands at approximately $482 million. 

    First Quarter Results
    Total first-quarter revenue was $20.8 million, which was above our target range. This revenue level represents an increase of 57.6% compared to the prior quarter and an increase of 65.3% compared to the year-earlier quarter due to higher product volumes.

    GAAP gross loss was $3.4 million, or 16.6% of revenue, compared to gross loss of $3.8 million, or 29.1% of revenue, in the prior quarter. Non-GAAP gross loss was $3.0 million or 14.4% of revenue. The result for this quarter compares to non-GAAP gross loss of $1.7 million in the prior-year period.

    GAAP operating expenses were $7.1 million. On a non-GAAP basis, operating expenses were $6.6 million. This result compares to non-GAAP operating expenses of $8.7 million in the year-ago quarter. 

    GAAP net loss was $3.8 million or $0.58 per diluted share, compared to a loss of $12.2 million or $0.96 per diluted share in the prior quarter and a net loss of $8.8 million or $0.70 per diluted share (post-split) in the year-ago quarter. Adjusted EBITDA loss, which excludes an approximate $5.9 million net gain from the change in fair value of the warrant liability, gain from collection of a contingent earnout payment and other non-cash items, was $9.8 million, compared to Adjusted EBITDA losses of $9.8 million(2) in the prior quarter and $10.7 million in the year-ago quarter.

    Subsequent Events
    The company announced today the appointments of Darrell Jackson and Max Sultan to its Board of Directors. The appointments were effective as of April 28, 2025.

    Mr. Jackson brings more than 30 years of executive and Board leadership experience to FTC Solar. He has been the CEO of The Efficace Group, an executive coaching and consulting firm, since 2018. Prior to Efficace, he served as President and CEO of Seaway Bank and Trust Company. Earlier in his career, he spent more than 19 years at Northern Trust Company, serving in various roles, including as EVP and President of Wealth Management, and spent approximately 14 years with BMO Harris. Mr. Jackson currently serves on the Janus Henderson Funds Board of Trustees, is an independent director for Amalgamated Financial Corporation, and is on the Board of Directors of two privately held companies, Dome Construction, Inc., and William R. Gray and Company. Mr. Jackson earned a BA in Communications from St. Xavier University and holds an Executive MBA degree from the Kellogg Graduate School of Management at Northwestern University.

    Mr. Sultan is currently a partner at Applied Value Group, a strategy and operations management consulting firm, having joined the firm in August 2013. He has led consulting engagements on issues including sourcing and supply chain, product design and innovation, and commercial excellence, and has worked with several renewable energy clients. Mr. Sultan has been a member of the Board of Directors of ES Solar, a private residential and commercial installer based in Utah since June 2023. He has previously served on the Boards of Applied Value Technologies and Division 5, LLC. Mr. Sultan holds a Bachelor of Business Administration degree from the Goizueta Business School at Emory University. Mr. Sultan was nominated to the Board by AV Securities, Inc., pursuant to the terms of the Promissory Note placement which closed in December 2024.

    Outlook
    For the second quarter, we expect revenue at the midpoint of our guidance range to show continued sequential growth relative to the first quarter. We continue to expect 2025 revenue to be weighted toward the second half and continue to expect to achieve adjusted EBITDA breakeven on a quarterly basis within 2025.

    (in millions)   1Q’25
    Guidance    		   1Q’25
    Actual    		   2Q’25
    Guidance(3)
    Revenue   $18.0 – $20.0   $20.8   $19.0 – $24.0
    Non-GAAP Gross Loss   $(4.8) – $(2.3)   $(3.0)   $(4.4) – $(2.0)
    Non-GAAP Gross Margin   (26.6%) – (11.7%)   (14.4%)   (23.4%) – (8.5%)
    Non-GAAP operating expenses   $7.7 – $8.4   $6.6   $7.8 – $8.6
    Non-GAAP adjusted EBITDA   $(13.3) – $(10.0)   $(9.8)   $(13.3) – $(10.0)
                 

    First Quarter 2025 Earnings Conference Call
    FTC Solar’s senior management will host a conference call for members of the investment community at 8:30 a.m. E.T. today, during which the company will discuss its first quarter results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of FTC Solar’s website at https://investor.ftcsolar.com. A replay of the conference call will also be available on the website for 30 days following the webcast.

    About FTC Solar Inc.
    Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a global provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

    Footnotes
    1. The term ‘backlog’ or ‘contracted and awarded’ refers to the combination of our executed contracts (contracted) and awarded orders (awarded), which are orders that have been documented and signed through a contract, where we are in the process of documenting a contract but for which a contract has not yet been signed, or that have been awarded in writing or verbally with a mutual understanding that the order will be contracted in the future. In the case of certain projects, including those that are scheduled for delivery on later dates, we have not locked in binding pricing with customers, and we instead use estimated average selling price to calculate the revenue included in our contracted and awarded orders for such projects. Actual revenue for these projects could differ once contracts with binding pricing are executed, and there is also a risk that a contract may never be executed for an awarded but uncontracted project, or that a contract may be executed for an awarded but uncontracted project at a date that is later than anticipated, or that a contract once executed may be subsequently amended, supplemented, rescinded, cancelled or breached, including in a manner that impacts the timing and amounts of payments due thereunder, thus reducing anticipated revenues. Please refer to our SEC filings, including our Form 10-K, for more information on our contracted and awarded orders, including risk factors.
    2. A reconciliation of prior quarter Non-GAAP financial measures to the nearest comparable GAAP measures may be found in Exhibit 99.1 of our Form 8-K filed on March 31, 2025.
    3. We do not provide a quantitative reconciliation of our forward-looking non-GAAP guidance measures to the most directly comparable GAAP financial measures because certain information needed to reconcile those measures is not available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying these measures as a result of changes in project schedules by our customers that may occur, which are outside of our control, and the impact, if any, of credit loss provisions, asset impairment charges, restructuring or changes in the timing and level of indirect or overhead spending, as well as other matters, that could occur which could significantly impact the related GAAP financial measures.

    Forward-Looking Statements
    This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the risks and uncertainties described in more detail above and in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”), our Quarterly Reports on Form 10-Q, and other documents, including Current Reports on Form 8-K, that we have filed, or will file, with the SEC. You should not rely on our forward-looking statements as predictions of future events, as actual results may differ materially from those in the forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks and uncertainties described in more detail above and in our filings with the SEC, including the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed with the SEC, our Quarterly Reports on Form 10-Q, and other documents, including Current Reports on Form 8-K, that we have filed, or will file, with the SEC. Any forward-looking statements in this release speak only as of the date on which they are made. FTC Solar undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    FTC Solar Investor Contact:
    Bill Michalek
    Vice President, Investor Relations
    FTC Solar
    T: (737) 241-8618
    E: IR@FTCSolar.com

     
    FTC Solar, Inc.
    Condensed Consolidated Statements of Comprehensive Loss
    (unaudited)
     
        Three months ended March 31,  
    (in thousands, except shares and per share data)   2025     2024  
    Revenue:            
    Product   $ 18,202     $ 10,905  
    Service     2,601       1,682  
    Total revenue     20,803       12,587  
    Cost of revenue:            
    Product     20,111       12,367  
    Service     4,139       2,328  
    Total cost of revenue     24,250       14,695  
    Gross loss     (3,447 )     (2,108 )
    Operating expenses            
    Research and development     924       1,439  
    Selling and marketing     1,136       2,388  
    General and administrative     5,053       6,567  
    Total operating expenses     7,113       10,394  
    Loss from operations     (10,560 )     (12,502 )
    Interest expense     (711 )     (317 )
    Interest income     6       181  
    Gain from disposal of investment in unconsolidated subsidiary     3,204       4,085  
    Gain from change in fair value of warrant liability     4,604       —  
    Other income, net     4       36  
    Loss from unconsolidated subsidiary     (112 )     (265 )
    Loss before income taxes     (3,565 )     (8,782 )
    (Provision for) benefit from income taxes     (254 )     11  
    Net loss     (3,819 )     (8,771 )
    Other comprehensive income (loss):            
    Foreign currency translation adjustments     28       (181 )
    Comprehensive loss   $ (3,791 )   $ (8,952 )
    Net loss per share:            
    Basic(*)   $ (0.30 )   $ (0.70 )
    Diluted(*)   $ (0.58 )   $ (0.70 )
    Weighted-average common shares outstanding:            
    Basic(*)     12,888,695       12,556,938  
    Diluted(*)     14,588,972       12,556,938  

    ___________

    (*) Prior year amounts per share and number of shares, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.
     
    FTC Solar, Inc.
    Condensed Consolidated Balance Sheets
    (unaudited)
     
    (in thousands, except shares and per share data)   March 31, 2025     December 31, 2024  
    ASSETS            
    Current assets            
    Cash and cash equivalents   $ 5,909     $ 11,247  
    Accounts receivable, net of allowance for credit losses of $1,625 and $1,717 at March 31, 2025 and December 31, 2024, respectively     44,238       39,709  
    Inventories     6,828       10,144  
    Prepaid and other current assets     14,123       15,028  
    Total current assets     71,098       76,128  
    Operating lease right-of-use assets     959       1,149  
    Property and equipment, net     1,951       2,217  
    Goodwill     7,173       7,139  
    Equity method investment     842       954  
    Other assets     2,038       2,341  
    Total assets   $ 84,061     $ 89,928  
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current liabilities            
    Accounts payable   $ 14,636     $ 12,995  
    Accrued expenses     23,245       20,134  
    Income taxes payable     407       325  
    Deferred revenue     2,237       5,306  
    Other current liabilities     10,373       10,313  
    Total current liabilities     50,898       49,073  
    Long-term debt     10,169       9,466  
    Operating lease liability, net of current portion     344       411  
    Warrant liability     4,916       9,520  
    Other non-current liabilities     2,206       2,422  
    Total liabilities     68,533       70,892  
    Commitments and contingencies            
    Stockholders’ equity            
    Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of March 31, 2025 and December 31, 2024     —       —  
    Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 13,068,309 and 12,853,823 shares issued and outstanding as of March 31, 2025 and December 31, 2024     1       1  
    Treasury stock, at cost; 1,076,257 shares as of March 31, 2025 and December 31, 2024     —       —  
    Additional paid-in capital     367,601       367,318  
    Accumulated other comprehensive loss     (514 )     (542 )
    Accumulated deficit     (351,560 )     (347,741 )
    Total stockholders’ equity     15,528       19,036  
    Total liabilities and stockholders’ equity   $ 84,061     $ 89,928  
     
     
    FTC Solar, Inc.
    Condensed Consolidated Statements of Cash Flows
    (unaudited)
     
        Three months ended March 31,  
    (in thousands)   2025     2024  
    Cash flows from operating activities            
    Net loss   $ (3,819 )   $ (8,771 )
    Adjustments to reconcile net loss to cash used in operating activities:            
    Stock-based compensation     280       1,639  
    Depreciation and amortization     302       404  
    Gain from change in fair value of warrant liability     (4,604 )     —  
    Gain from sale of property and equipment     (3 )     —  
    Amortization of debt discount and issue costs     210       177  
    Paid-in-kind non-cash interest     492       —  
    Provision (credit) for obsolete and slow-moving inventory     —       177  
    Loss from unconsolidated subsidiary     112       265  
    Gain from disposal of investment in unconsolidated subsidiary     (3,204 )     (4,085 )
    Warranties issued and remediation added     1,045       838  
    Warranty recoverable from manufacturer     80       98  
    Credit loss provisions(reversals)     (92 )     670  
    Deferred income taxes     426       225  
    Lease expense and other     327       309  
    Impact on cash from changes in operating assets and liabilities:            
    Accounts receivable     (4,437 )     (1,770 )
    Inventories     3,316       (116 )
    Prepaid and other current assets     918       45  
    Other assets     (216 )     (226 )
    Accounts payable     1,688       3,989  
    Accruals and other current liabilities     2,539       (6,200 )
    Deferred revenue     (3,069 )     1,285  
    Other non-current liabilities     (415 )     (523 )
    Lease payments and other, net     (359 )     (287 )
    Net cash used in operations     (8,483 )     (11,857 )
    Cash flows from investing activities:            
    Purchases of property and equipment     (83 )     (432 )
    Proceeds from sale of property and equipment     3       —  
    Equity method investment in Alpha Steel     —       (1,035 )
    Proceeds from disposal of investment in unconsolidated subsidiary     3,204       4,085  
    Net cash provided by investing activities     3,124       2,618  
    Cash flows from financing activities:            
    Proceeds from stock option exercises     3       —  
    Net cash provided by financing activities     3       —  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash     18       (59 )
    Decrease in cash, cash equivalents and restricted cash     (5,338 )     (9,298 )
    Cash and cash equivalents at beginning of period     11,247       25,235  
    Cash, cash equivalents and restricted cash at end of period   $ 5,909     $ 15,937  
     

    Notes to Reconciliations of Non-GAAP Financial Measures to Nearest Comparable GAAP Measures

    We utilize Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS as supplemental measures of our performance. We define Adjusted EBITDA as net loss plus (i) provision for (benefit from) income taxes, (ii) interest expense, net, (iii) depreciation expense, (iv) amortization of intangibles, (v) stock-based compensation, (vi) loss from changes in fair value of our warrant liability, and (vii) Chief Executive Officer (“CEO”) transition costs, non-routine legal fees, costs associated with our reverse stock split, severance and certain other costs (credits). We also deduct the contingent gains arising from earnout payments and project escrow releases relating to the disposal of our investment in an unconsolidated subsidiary and gains from changes in fair value of our warrant liability from net loss in arriving at Adjusted EBITDA. We define Adjusted Net Loss as net loss plus (i) amortization of debt discount and issue costs and intangibles, (ii) stock-based compensation, (iii) loss from changes in fair value of our warrant liability, (iv) CEO transition costs, non-routine legal fees, costs associated with our reverse stock split, severance and certain other costs (credits), and (v) the income tax expense (benefit) of those adjustments, if any. We also deduct the contingent gains arising from earnout payments and project escrow releases relating to the disposal of our investment in an unconsolidated subsidiary and gains from change in fair value of our warrant liability from net loss in arriving at Adjusted Net Loss. Adjusted EPS is defined as Adjusted Net Loss on a per share basis using our weighted average diluted shares outstanding.

    Non-GAAP gross profit (loss), Non-GAAP operating expense, Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS are intended as supplemental measures of performance that are neither required by, nor presented in accordance with, U.S. generally accepted accounting principles (“GAAP”). We present these non-GAAP measures, many of which are commonly used by investors and analysts, because we believe they assist those investors and analysts in comparing our performance across reporting periods on an ongoing basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS to evaluate the effectiveness of our business strategies.

    Non-GAAP gross profit (loss), Non-GAAP operating expense, Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, and you should not rely on any single financial measure to evaluate our business. These Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure as disclosed below.

    The following table reconciles Non-GAAP gross profit (loss) to the most closely related GAAP measure for the three months ended March 31, 2025 and 2024, respectively:

        Three months ended March 31,  
    (in thousands, except percentages)   2025     2024  
    U.S. GAAP revenue   $ 20,803     $ 12,587  
    U.S. GAAP gross loss   $ (3,447 )   $ (2,108 )
    Depreciation expense     173       168  
    Stock-based compensation     243       216  
    Severance costs     34       —  
    Non-GAAP gross loss   $ (2,997 )   $ (1,724 )
    Non-GAAP gross margin percentage     (14.4 %)     (13.7 %)
     

    The following table reconciles Non-GAAP operating expenses to the most closely related GAAP measure for the three months ended March 31, 2025 and 2024, respectively:

        Three months ended March 31,  
    (in thousands)   2025     2024  
    U.S. GAAP operating expenses   $ 7,113     $ 10,394  
    Depreciation expense     (129 )     (102 )
    Amortization expense     —       (134 )
    Stock-based compensation     (37 )     (1,423 )
    CEO transition     (160 )     —  
    Non-routine legal fees     —       (33 )
    Reverse stock split     (1 )     —  
    Severance costs     (141 )     —  
    Non-GAAP operating expenses   $ 6,645     $ 8,702  
     

    The following table reconciles Non-GAAP Adjusted EBITDA to the related GAAP measure of loss from operations for the three months ended March 31, 2025 and 2024, respectively:

        Three months ended March 31,  
    (in thousands)   2025     2024  
    U.S. GAAP loss from operations   $ (10,560 )   $ (12,502 )
    Depreciation expense     302       270  
    Amortization expense     —       134  
    Stock-based compensation     280       1,639  
    CEO transition     160       —  
    Non-routine legal fees     —       33  
    Reverse stock split     1       —  
    Severance costs     175       —  
    Other income, net     4       36  
    Loss from unconsolidated subsidiary     (112 )     (265 )
    Adjusted EBITDA   $ (9,750 )   $ (10,655 )
     

    The following table reconciles Non-GAAP Adjusted EBITDA and Adjusted Net Loss to the related GAAP measure of net loss for the three months ended March 31, 2025 and 2024, respectively:

        Three months ended March 31,  
        2025     2024  
    (in thousands, except shares and per share data)   Adjusted
    EBITDA    		     Adjusted Net
    Loss    		     Adjusted
    EBITDA    		     Adjusted Net
    Loss    		  
    Net loss per U.S. GAAP   $ (3,819 )   $ (3,819 )   $ (8,771 )   $ (8,771 )
    Reconciling items –                        
    Provision for (benefit from) income taxes     254       —       (11 )     —  
    Interest expense     711       —       317       —  
    Interest income     (6 )     —       (181 )     —  
    Amortization of debt discount and issue costs in interest expense     —       210       —       177  
    Depreciation expense     302       —       270       —  
    Amortization of intangibles     —       —       134       134  
    Stock-based compensation     280       280       1,639       1,639  
    Gain from disposal of investment in unconsolidated subsidiary(a)     (3,204 )     (3,204 )     (4,085 )     (4,085 )
    Gain from change in fair value of warrant liability(b)     (4,604 )     (4,604 )     —       —  
    CEO transition(c)     160       160       —       —  
    Non-routine legal fees(d)     —       —       33       33  
    Reverse stock split(e)     1       1       —       —  
    Severance costs(f)     175       175       —       —  
    Adjusted Non-GAAP amounts   $ (9,750 )   $ (10,801 )   $ (10,655 )   $ (10,873 )
                             
    Adjusted Non-GAAP net loss per share (Adjusted EPS):                        
    Basic(g)   N/A     $ (0.84 )   N/A     $ (0.87 )
    Diluted(g)   N/A     $ (0.84 )   N/A     $ (0.87 )
                             
    Weighted-average common shares outstanding:                        
    Basic(g)   N/A       12,888,695     N/A       12,556,938  
    Diluted(g)   N/A       12,888,695     N/A       12,556,938  
    (a) We exclude the gain from collections of contingent contractual amounts arising from the sale in 2021 of our investment in an unconsolidated subsidiary as these amounts are not considered part of our normal ongoing operations.
    (b) We exclude non-cash changes in the fair value of our outstanding warrants as we do not consider such changes to impact or reflect changes in our core operating performance.
    (c) In connection with hiring a new CEO in August 2024, we agreed to upfront and incremental sign-on bonuses (collectively, the “sign-on bonuses”), a portion of which was paid to our CEO in 2024, with clawback provisions over the next two years, and a portion of which will be paid in 2025 and 2026, all contingent upon continued employment as of the payment date. These sign-on bonuses will be expensed each period through October 1, 2026, to reflect the required service periods. We do not view these sign-on bonuses as being part of the normal on-going compensation arrangements for our CEO.
    (d) Non-routine legal fees represent legal fees and other costs incurred for specific matters that were not ordinary or routine to the operations of the business.
    (e) We incurred incremental professional fees in 2025 relating to final reconciliation of information relating to our stock compensation awards as a result of the Reverse Stock Split that was consummated effective November 29, 2024.
    (f) Severance costs in 2025 were due to restructuring changes.
    (g) Prior year shares and amounts, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.

    The MIL Network –

  • MIL-OSI Economics: WTO accession: Supporting the economic reforms of Ethiopia and Uzbekistan

    Source: WTO

    Headline: WTO accession: Supporting the economic reforms of Ethiopia and Uzbekistan

    Excellencies,ladies, and gentlemen,
    I am delighted to participate in this meeting in support of the accessions of Ethiopia and Uzbekistan to the WTO. I am also very pleased to be joined by the Chief Negotiators and representatives of Ethiopia and Uzbekistan as well as our development partners. I would in particular like to thank the Vice-President for Europe and Central Asia, Ms Antonella Bassani and the Acting Vice-President for East Africa Mr Amit Dar from the World Bank and the Deputy Director, Strategy and Policy Review Mr Ken Kang, from the IMF for their presence today.
    Ethiopia and Uzbekistan have been negotiating their accessions for several years and have made good progress towards their goal to join the WTO by 2026. There are a number of similarities between the two economies. Both are the most populous nations in their respective regions, notably with a significant young population which will be entering the job market. Both have a legacy of strong State presence which they are gradually reducing through market-based economic and legislative reforms. They are also very ably led by excellent negotiating teams which have made it possible to move accession negotiations forward rapidly and I acknowledge with thanks the presence today of their Chief Negotiators.
    Completing the long and often complex road to WTO accession requires strong political will, a technically strong and coherent negotiating team led by a competent Chief Negotiator, and support from development partners, both bilateral and multilateral. In the case of Ethiopia and Uzbekistan, I believe we have all these ingredients.
    Strong political will is key to any reform process. Ethiopia’s economic reforms have been pursued since 2018 under Prime Minister Abiy Ahmed Ali’s leadership, through the “Home-Grown Economic Reform Programme” which aims at structural transformation and private sector led growth. The bold steps taken in recent years including foreign exchange reforms, liberalization of key services, and reduced restrictions on foreign direct investment, have served Ethiopia well, resulting in strong economic growth, averaging over 6% annually since 2022. The reforms have also created an enabling environment for Ethiopia to benefit from its membership of the AfCFTA (which it ratified in 2019) once it starts to trade under its provisions. WTO Membership will further lock in these reforms and moreover provide a support structure to sustain economic reforms and growth. Ethiopia’s Government has indicated its strong commitment to finalizing accession by the Ministerial Conference and I look forward to the completion of negotiations during the course of 2025.
    In Uzbekistan continued support by President Mirziyoyev has underpinned reform in recent years. This includes key Presidential Decrees in 2024 and 2025 addressing issues of concern to WTO Members on WTO consistency such as the reduction of State dominance in the economy through the removal of exclusive rights in several sectors, the import ban on ethyl alcohol and export subsidies. Most recently a Presidential Decree in March replaced export restrictions with export duties thereby making the export regime more predictable and transparent. Continuing legislative reform has aimed at bringing domestic legislation into line with the WTO Agreements. Uzbekistan is also well on the way to completing all its remaining ten bilateral market access negotiations in 2025.
    While reform is necessary and often difficult to ensure consistency with WTO rules, acceding governments also face daunting challenges in building institutional capacity and bringing their officials up to speed in areas such as trade remedies, technical regulations and SPS measures. I am grateful to our development partners, both Members and multilateral agencies for their consistent efforts to step up and provide their expertise when and where it is needed. Your assistance has been invaluable and will remain so to help both countries meet their accession and post-accession challenges.
    Excellencies, a few weeks ago the WTO celebrated its 30th anniversary with a gathering of eminent persons to reflect on our achievements and the way forward. The keynote speaker, the former Prime Minister of Portugal and EC President, José Manuel Barroso noted that although we are passing through a great deal of turbulence, the WTO is probably even more necessary today than it was when it was established in 1995. Indeed, the fact that large economies such as Ethiopia and Uzbekistan wish to join the WTO is a testament to the continued importance of the multilateral trading system and the stability and transparency it offers. Time is of the essence if we are to meet their accession goals. I very much hope that the efforts of Ethiopia and Uzbekistan to become Members becomes reality in the very near future.

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    MIL OSI Economics –