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  • MIL-OSI: PFM CRYPTO Introduces One-Click Asset Management, Popularizing Crypto Earnings for 9.2 Million Users

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 23, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s price fluctuates between $80,000 and $90,000, investors are asking a critical question: Can crypto assets still reliably generate profits? PFM CRYPTO, a leading global crypto asset management service with data centers across 20 countries, including the UK, the United States, and Iceland, has announced its latest quarterly performance report. The findings reveal how the company is helping millions of users achieve stable returns through a simple, one-click crypto asset management solution.

    Survivorship bias in the crypto market: 
    As of the first quarter of 2025, about 69% of global cryptocurrency investors have achieved profitability. ​This data comes from the “2025 Cryptocurrency Adoption and Consumer Sentiment Report” released by Security. Although this data is exciting, among the profitable groups, more than 80% are long-term investors with a holding period of more than 2 years, while the loss rate of short-term traders who chase ups and downs is as high as 67%.

    Although the crypto market continues to fluctuate, PFM CRYPTO still achieved positive results in the first quarter:
    – Florida data center officially put into use (there are 20 data centers in the world).
    – Iceland data center alone has achieved 565 BTC, 1436 ETH, and other crypto assets output.
    – Created $410 million in crypto asset appreciation for millions of users.

    “We are pleased to announce a series of very positive results. Our impressive cost optimization structure has achieved results even in the face of price fluctuations in the cryptocurrency market.” PFM CRYPTO’s Chief Operating Officer said: “Our goal is to provide users with crypto asset services with zero technical barriers. By optimizing the distributed computing power architecture and green energy layout, users can still enjoy transparent and stable returns even during market fluctuations.”

    What is PFM CRYPTO’s crypto asset upgrade package?
    – No expensive equipment or professional skills are required. With just one click of hosting, PFM CRYPTO’s remote computing power can start serving you.
    – All packages will generate electronic contracts, and users can easily understand the benefits of each package.
    – Only a few platforms can achieve true 0 handling fees, and PFM CRYPTO has done it. All deposits and withdrawals are free of charge.

     
    PFMcrypto Offers $10 Bitcoin Bonus for New Users. 
    Nothing is more important than asset security, and PFM CRYPTO knows this. Key safeguards include:

    • Multi-layer cold storage
    • Two-factor authentication
    • Smart contract-driven operations
    • KYC compliance in multiple regions

    PFM CRYPTO’s approach has earned it a 4.7/5 user satisfaction score, with over 1.4 million verified reviews and the top spot in Blockchain Analytics Group’s April 2025 rankings.

    How to start PFM CRYPTO?
    – Register an account, which usually takes only one minute. Register now to get a $10 new user bonus.
    – Contract plans include 1 day, 2 days, 5 days, 10 days, etc. Choose the plan that suits you.
    – Start with one click, and the income will be credited to your account on time every day.

    PFM CRYPTO has been independently rated as the top free platform for earning Bitcoin, thanks to its user-first features, verified returns, and global accessibility. Here’s what sets it apart:

    • Free $10 Bitcoin Bonus: New users receive $10 in BTC upon registration—no deposit or wallet connection required.
    • Flexible Earning Plans: Choose short-term contracts of 1, 3, or 5 days, ideal for testing and scaling.
    • Fast, Fee-Free Withdrawals: All payouts are processed within 1–5 minutes, with no withdrawal or maintenance fees.
    • Advanced Security Protocols: The platform uses cold wallet storage, 2FA, and blockchain-based electronic contracts to ensure safety and transparency.

    The Future of Free Bitcoin Earnings Starts Now
    As more people seek alternative income sources, PFM CRYPTO positions itself as the best free crypto asset management platform in 2025. Whether new to crypto or expanding the portfolio, PFM CRYPTO provides a low-risk, high-potential entry point into Bitcoin.
    Start earning today—register now at pfmcrypto.net and claim a $10 bonus.

    Media Contact:

    Amelia Elspeth
    PFM CRYPTO
    info@pfmcrypto.net
    https://pfmcrypto.net/

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9980ebd0-dea1-4aa7-88a1-4443b0251f7c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fa150a23-a784-405e-99ef-31afeae0541e

    The MIL Network –

  • MIL-OSI Global: IMF World Economic Outlook: economic uncertainty is now higher than it ever was during COVID

    Source: The Conversation – Global Perspectives – By Sergi Basco, Profesor Agregado de Economia, Universitat de Barcelona

    Skorzewiak/Shutterstock

    The International Monetary Fund (IMF) has just published its World Economic Outlook, and it does not take an expert to deduce that, even among some of the world’s top economic minds, confident predictions are currently hard to come by.

    Every spring the IMF and World Bank hold their Spring Meetings in Washington DC: a week of seminars, briefings and press conferences focusing on the global economy, international development and world financial markets. At both the Spring Meetings and the Annual Meeting, held each autumn, the IMF publishes its global economic growth forecasts.

    For its 2025 Spring Meeting the IMF has published a baseline forecast, as well as an addendum analysing the tariff events that took place between 9 and 14 April. According to the Fund’s report, world GDP will grow by 2.8% in 2025 and 3.0% in 2026. For the euro area, growth will be 0.8% and 1.2% for 2025 and 2026 respectively.

    These forecasts represent a substantial downward revision from IMF figures published just three months ago. Globally, growth in 2025 is down by 0.5% compared to the Fund’s January update, with a reduction of 0.2% for the euro area.

    One major shift is key to understanding the most recent IMF report and its pessimistic predictions: we live in a much more uncertain world than we did three months ago.

    Trump, tariffs and uncertainty

    If one had to sum up the new US tariff policy in a word, “unpredictable” would suffice, as the so-called “Liberation Day” of 2 April 2025 represented the largest tariff increase in modern history.

    Just one week later, the US president then made two further announcements. First, a 90-day freeze on tariff hikes, apparently in search of bilateral agreements with the countries to which he had applied tariffs above 10%. Second, that China would be excluded from this exception, with tariffs on its products being raised to 145%.

    This freeze means that until July EU goods being sold to the US will have a 10% tariff instead of the 20% that was announced on 2 April. However, the 10% applied by the new US administration is still much higher than the average tariff of 1.34% that was in force before 5 April.

    But what will the tariff be after these 90 days? What about in December? What about in 2 years’ time? What goods will be exempted? How far will the trade war between China and the US go? The answer to all of these questions is: nobody knows. This uncertainty is evident in of the IMF’s spring forecast.

    Uncertainty is off the charts

    The IMF’s world trade uncertainty index is currently 7 times higher than it was in October 2024, much higher than in the pandemic.

    As far as the economy is concerned, this uncertainty is far worse than a high but definitive tariff. With a tariff, companies can at least reorganise their production chain, and consumers can look for alternative products. There is a cost, but at least businesses and consumers can plan for it.

    However, nobody can calculate these costs today because nobody knows how tariffs will evolve. An American company may decide today to buy a particular product from the EU thinking that the tariff will be 10%, but upon the product’s arrival in the US it turns out the tariff has risen to 100% because a presidential advisor said it would be good for the US economy to raise tariffs on that product.

    Unbelievable though it may sound, this appears to be how the tariffs are being decided and enacted. According to one account, the US Treasury and Commerce Secretaries were only able to persuade Trump to freeze recent tariff hikes because Peter Navarro – the president’s economic advisor and tariff ideologue – was in another room at the time.

    The end result of this unpredictability is that the best course of action, for consumers and businesses alike, is inaction.



    Leer más:
    Trump tariff chaos: radical uncertainty will likely make companies delay investments

    Fear and volatility

    It is no surprise that these constant changes of plans are causing great instability in financial markets. Although Trump may have triumphantly celebrated rising stock prices immediately after the tariff freeze was announced, financial markets are now subject to levels of uncertainty and fear similar to those seen during COVID-19.

    Five years ago, volatility was associated with increased demand for US government debt due to the “flight to safety” effect: investors selling higher risk investments and buying safer assets, such as gold and government bonds, in times of uncertainty.

    Now we are seeing the exact opposite. The price of US bonds has fallen since “Liberation Day”, and this means that investors are selling them. In other words, markets no longer believe that US government debt is a safe asset. Given the role of the dollar and US debt in international markets, this paradigm shift may generate even more financial instability down the line.

    Supply chains are breaking (again)

    COVID-19, the last major global economic crisis, has one thing in common with the current situation: disruption of global supply chains. During the pandemic it was confinement that forced production to stop. Today, it is the imposition of tariffs.

    However, there is another major difference. During COVID people knew it was a matter of time before vaccines became available and normality returned. Today, instability in financial markets comes not from any virus, but from President Trump’s own advisors selling him all manner of plans to protect US economic interests.

    Sergi Basco no recibe salario, ni ejerce labores de consultoría, ni posee acciones, ni recibe financiación de ninguna compañía u organización que pueda obtener beneficio de este artículo, y ha declarado carecer de vínculos relevantes más allá del cargo académico citado.

    – ref. IMF World Economic Outlook: economic uncertainty is now higher than it ever was during COVID – https://theconversation.com/imf-world-economic-outlook-economic-uncertainty-is-now-higher-than-it-ever-was-during-covid-255055

    MIL OSI – Global Reports –

  • MIL-OSI USA: Legislation considered under suspension of the Rules of the House of Representatives during the week of April 28, 2025

    Source: US Congressional Budget Office

    The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote.

    At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.

    CBO’s estimates of the bills that have been posted for possible consideration under suspension of the rules during the week of April 28, 2025, include:

    • H.R. 452, Miracle on Ice Congressional Gold Medal Act
    • H.R. 617, American Music Tourism Act of 2025
    • H.R. 859, Informing Consumers About Smart Devices Act
    • H.R. 866, ROUTERS Act, as amended
    • H.R. 906, Foreign Adversary Communications Transparency Act
    • H.R. 973, Setting Consumer Standards for Lithium-Ion Batteries Act
    • H.R. 1402, TICKET Act
    • H.R. 1442, Youth Poisoning Protection Act, as amended
    • H.R. 1479, Hotel Fees Transparency Act of 2025
    • H.R. 1664, Deploying American Blockchains Act of 2025
    • H.R. 1721, Critical Infrastructure Manufacturing Feasibility Act
    • H.R. 2399, Rural Broadband Protection Act of 2025
    • H.R. 2444, Promoting Resilient Supply Chains Act of 2025
    • H.R. 2449, FUTURE Networks Act
    • H.R. 2458, Secure Space Act of 2025
    • H.R. 2480, Securing Semiconductor Supply Chains Act of 2025
    • H.R. 2482, NTIA Reauthorization Act of 2025, as amended
    • S. 146, TAKE IT DOWN Act

    MIL OSI USA News –

  • MIL-OSI USA: Amo Lambasts Trump Trade War and Republican Budget Cuts That Are Raising Costs on Rhode Islanders

    Source: US Congressman Gabe Amo (Rhode Island 1st District)

    PROVIDENCE – Today, Congressman Gabe Amo (RI-01) visited the West End Community Center in Providence to highlight how Trump’s chaotic trade war and the Republican plan to gut food assistance programs is jacking up the cost of living in Rhode Island. During the visit, the Congressman toured the food pantry, early education programs, and community facility and met with staff. As the Center celebrates its 50th year in operation, the staff have noted an increase in food assistance need from the approximately 100 local families it serves each day.

    “Every day, the West End Community Center food pantry helps approximately 100 Rhode Island families put food on their table,” said Congressman Amo. “Yet Trump and congressional Republicans are threatening this assistance by pursuing a chaotic trade war and budget cuts that are jacking up the cost of energy, groceries, and gas while stripping working Rhode Islanders of critical support that helps them afford food. The West End Community Center is a lifeline for families in Rhode Island, and I’ll continue to fight to protect them from harmful cuts and unnecessary tariffs.”

    “I want to thank Congressman Amo for visiting our facility and volunteering with our staff,” said Denise Greene, Executive Director of West End Community Center. “With so much uncertainty in the news, and with so many policies being pursued that raise the cost of living and threaten the wellbeing of the families in Rhode Island, it’s reassuring to know that we have a prominent voice in Congress advocating for us.”

    “The West End Community Center is an anchor for the Providence community—providing vital food assistance, early education, and supportive services to hundreds of residents every week,” said Alyssa McDermott, Director of Housing and Community Development, City of Providence. “Through Community Development Block Grant (CDBG) funding, the City proudly supports their work to fight food insecurity. At a time when national policies threaten to unravel the safety net so many depend on, our investment in local organizations like the West End Community Center is more important than ever.”

     

    BACKGROUND

    On April 9, 2025, Congressman Amo spoke on the House floor to slam the Republican budget resolution and share the story of a Rhode Islander who would be hurt by Republican cuts.

    On February 25, 2025, Congressman Amo took to the House Floor to slam the Republican budget resolution that threatens devastating cuts to critical programs. The day before, Congressman Amo submitted two amendments to the House Committee on Rules to protect SNAP and affirm that Medicaid is a critical program for more than 306,000 Rhode Island residents. The Republican-controlled House Committee on Rules refused to consider Congressman Amo’s amendments.    

    During the House Budget Committee markup on February 13, 2025, Congressman Amo offered two amendments to support protecting and extending Medicare’s solvency as well as protect SNAP, the Community Eligibility Provision, the School Breakfast Program, and the National School Lunch Program.

    The Republican budget resolution directs specific committees to achieve spending cuts or increases. Republicans leaked menu of options includes:

    • At least $880 billion in cuts for the Energy and Commerce Committee, which could target Medicaid, Affordable Care Act (ACA) premium assistance, and repeal Inflation Reduction Act policies.
    • At least $230 billion in cuts for the Agriculture Committee, which could target SNAP.
    • Up to $4.5 trillion in new spending for the Ways and Means Committee, which could include tax cuts for the top one percent, repeal of Inflation Reduction Act policies, cuts to Temporary Assistance to Needy Families and Social Services Block Grant, cuts in Medicare payments to providers, and cuts to ACA premium assistance.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Montana Private Nonprofits Affected by July Winds

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Montana of the May 23, deadline to apply for low interest federal disaster loans to offset economic losses caused by the straight-line winds occurring July 24, 2024.

    The disaster declaration covers the Montana counties of Missoula and Powell.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature who suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

    EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates as low as 3.25% and terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than May 23.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI: The arbitral tribunal has confirmed Onni Bidco Oy’s redemption right over the minority shares in Innofactor Plc, and trading in the Innofactor Plc shares has been suspended

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc | Stock Exchange Release | April 23, 2025 at 18:00 EEST

    The arbitral tribunal has confirmed Onni Bidco Oy’s redemption right over the minority shares in Innofactor Plc, and trading in the Innofactor Plc shares has been suspended

    The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce in connection with the redemption proceedings concerning the minority shares in Innofactor Plc (“Innofactor”) has in its interim decision issued today confirmed that Onni Bidco Oy (“Onni Bidco”) has the right to redeem the minority shares in Innofactor, and that Onni Bidco has the right to obtain title to the minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.

    Innofactor announced on March 31, 2025 that the Board of Directors of Innofactor has resolved to apply for the termination of public trading in the shares of Innofactor and for the delisting of its shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) so that the delisting in respect of the Innofactor shares admitted to trading on the official list of Nasdaq Helsinki would become effective as soon as possible upon Onni Bidco having gained title to all the shares in Innofactor in the pending redemption proceedings under Chapter 18 of the Finnish Companies Act.

    Following the confirmation of Onni Bidco’s redemption right, Nasdaq Helsinki has suspended trading in the Innofactor shares today on April 23, 2025 at 17:16 (EEST). The possible posting of the security and the delisting of the Innofactor shares will be announced separately.

    Investor and media enquiries:

    Veera Vitie (Innofactor), ir@innofactor.com, +358 44 331 0207
    Lasse Lautsuo (Innofactor), ir@innofactor.com, +358 50 480 1597

    Distribution:
    NASDAQ Helsinki
    Main media

    ABOUT INNOFACTOR

    Innofactor is the leading promoter of the modern digital organization in the Nordic countries for its approximately 1,000 customers in the commercial and public sectors. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor’s offering includes planning services for business-critical IT solutions, project deliveries, implementation support and maintenance services, as well as own software and services. Innofactor employs nearly 600 experts in Finland, Sweden, Denmark and Norway. Innofactor’s shares are listed on Nasdaq Helsinki with the ticker symbol IFA1V.

    The MIL Network –

  • MIL-OSI: ModelOp Recognized in AI Governance Landscape Analyst Report

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 23, 2025 (GLOBE NEWSWIRE) — ModelOp, the leading AI Governance software for enterprises, announced today its inclusion in Forrester’s new report, The AI Governance Solutions Landscape, Q2 2025. The report provides an overview of 22 vendors. It helps AI leaders understand the value that they can expect from an AI governance solution, while giving them the opportunity to explore potential partners. ModelOp believes its inclusion affirms its strength in delivering enterprise-grade governance capabilities across the model lifecycle – from model development and risk management to deployment and compliance monitoring.

    “We’re honored to be included and believe that Forrester’s recognition of ModelOp in their AI governance landscape report further demonstrates that our platform is driving clear business outcomes for enterprises,” said Pete Foley, CEO of ModelOp. “We are committed to helping large enterprises, such as FINRA, P&G, Bristol Myers Squibb, and more, accelerate and scale their AI lifecycle management with confidence, accountability, and transparency.”

    ModelOp’s platform empowers enterprises to:                                                          

    • Brings AI to market 2X faster through AI lifecycle automation
    • Scales AI lifecycle processes by 10X enabling enterprises to manage thousands of use cases
    • Instills trust by consistently enforcing governance policies across teams and lines of business

    ModelOp’s recognition by Forrester adds to a series of industry achievements, including being named a Representative Vendor in the 2025 Gartner Market Guide for AI Trust, Risk, and Security Management, and receiving the Business Intelligence Group’s 2025 Artificial Intelligence Excellence Award.

    Visit https://www.modelop.com/ to learn more about ModelOp’s AI Governance platform.

    Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester’s objectivity here.

    About ModelOp
    ModelOp is the leading AI Governance software that helps enterprises safeguard all AI initiatives – including generative AI, Large Language Models (LLMs), in-house, third-party, and embedded systems – without stifling innovation. Through automation and integrations, ModelOp empowers enterprises to quickly address the critical governance and scale challenges necessary to protect and fully unlock the transformational value of enterprise AI – resulting in effective and responsible AI systems. In 2024, ModelOp received the prestigious AI Breakthrough Award for “Best AI Governance Platform” and was also recognized as a winner in Inc.’s Best in Business Awards in the AI & Data category. In 2025, it was awarded the “Best AI Governance Software Award” from Netty Awards and received Business Intelligence Group’s Artificial Intelligence Excellence Award. Follow ModelOp on LinkedIn.

    Media Contact
    Ria Romano, Partner
    RPR Public Relations, Inc.
    Tel. 786-290-6413

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35d0d322-6f78-4fae-8659-89383bcaa634

    The MIL Network –

  • MIL-OSI: Double Deposit Bonus. 100x Leverage. No KYC. Crypto Futures Trading Made Easy on BexBack.

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 23, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.

    Advantages of 100x Leverage Crypto Futures

    1. Amplified Profits: Control large positions with a small amount of capital, capturing more profits from market fluctuations.
    2. Low Capital Requirement: Participate in high-value trades with minimal investment, lowering the entry barrier.
    3. Increased Market Opportunities: Profit quickly from price fluctuations, especially in volatile markets.
    4. High Capital Efficiency: Leverage enables better use of your capital, expanding your investment potential.
    5. Profit from Both Up and Down Markets: Adapt to any market conditions, with opportunities to profit whether the market goes up or down.

    What Is 100x Leverage and How Does It Work?

    Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

    Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

    One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

    With BexBack’s deposit bonus

    BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

    Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

    How Does the 100% Deposit Bonus Work?
    The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

    Why recommend BexBack?

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    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
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    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/97e079f0-51fe-4aa5-b650-32ad25c0ed46

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bbe9b29b-6864-4490-9a02-19682e29647f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/938714d4-0d45-4127-8bbe-a1186c371fe9

    https://www.globenewswire.com/NewsRoom/AttachmentNg/899c3f9f-d215-4359-a869-2814e0aa694c

    The MIL Network –

  • MIL-OSI: EverGen Infrastructure Corp. Announces Private Placement of Common Shares and Entering Into of Share Purchase and Reorganization Agreement

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

    VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) — EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) is pleased to announce that it has entered into a share purchase and reorganization agreement (the “Agreement”) on April 22, 2025, with Ask America, LLC (the “Purchaser”), an arm’s length limited liability company existing under the laws of New Jersey. Pursuant to the terms of the Agreement, the Purchaser has agreed to act as the lead investor in a private placement of common shares of the Company (“Common Shares”) for total gross proceeds of up to CAD$7,000,000 (the “Private Placement”). A copy of the Agreement will be accessible on the Company’s SEDAR+ profile at www.sedarplus.ca.

    Private Placement

    Pursuant to the terms of the Agreement, the Company intends to complete the Private Placement of up to an aggregate of 11,666,667 Common Shares at a price of $0.60 per Common Share with the Purchaser and other subscribers for total gross proceeds of up to CAD$7,000,000. In connection with the Private Placement, Purchaser has agreed to subscribe for and purchase 8,333,333 Common Shares in the Private Placement, for gross aggregate proceeds of CAD$5,000,000 (the “Share Purchase”) on the terms and conditions set forth in the Agreement. Upon execution of the Agreement, the Purchaser paid a deposit of CAD$1,800,000 to the Company for the Share Purchase, with the remaining CAD$3,200,000 to be paid by the Purchaser to the Company upon closing of the Private Placement. The Common Shares issued pursuant to the Private Placement will be subject to a four month hold period. The Company anticipates using the proceeds of the Private Placement for working capital and general corporate purposes.

    Pursuant to the terms of the Agreement, subject to and concurrent with the closing of the Private Placement, the majority of the executive officers and directors of the Company will resign and be replaced with a new management team consisting of Chase Edgelow as Chief Executive Officer, Ron Green as Chief Operating Officer, with Sean Hennessey continuing as Chief Financial Officer and a new board of directors of the Company (the “Board”) consisting of: Chase Edgelow, Varun Anand, Blake Almond, and Mischa Zajtmann (collectively, the “Change of Management”). The foregoing changes will constitute a “Change of Management” (as defined in the policies of the TSX Venture Exchange). The closing of the Private Placement may also result in the Purchaser becoming a new “Control Person” of the Company (as defined in the policies of the TSX Venture Exchange). The completion of the Private Placement and the Change of Management is expected to occur in early May 2025.

    It is also anticipated that, prior to closing of the Private Placement, 1,211,026 options, warrants and other equity settled incentive securities held by current and former members of the Company’s management and the Board will be surrendered for cancellation. Upon completion of the Private Placement, EverGen will have issued and outstanding up to 25,686,352 Common Shares (up to 25,806,225 Common Shares on a fully diluted basis).

    New Management Team & Board

    The new management team and board brings unparalleled knowledge of the Company and its assets, a focused strategy dedicated to improving operational efficiencies and cost structure, and a long-term vision to continue to grow EverGen into a highly strategic and valuable infrastructure platform.

    Chase Edgelow (Director & Chief Executive Officer): Brings a direct hands-on approach as co-founder and former CEO of EverGen, along with 20 years of financial and operational expertise in the energy and infrastructure sectors. He is the founding partner of Chase Capital, a private capital platform dedicated to investing in, advising and growing businesses with a focus on the circular economy and energy transition. He spent over a decade with Macquarie Group specializing in sourcing, structuring and managing private energy and infrastructure investments on behalf of Macquarie and other co-investment partners, in addition to providing traditional M&A, capital raising and advisory services for corporate clients. Holds a degree in Engineering Physics from Queen’s University and is a Chartered Financial Analyst (CFA) charterholder and Professional Engineer of Alberta (non-practising).

    Ron Green (Chief Operating Officer): An accomplished leader with over 30 years of experience in the energy & infrastructure sectors, specializing in operational excellence and team development. Proven track record of driving success in turnaround situations, with expertise in optimizing operations and aligning strategic incentives. Throughout his career, Mr. Green has held key executive roles, including CEO of Promeita Energy, Vice President of Rockwater Energy Solutions, Chief Operating Officer of Pure Energy Services Ltd., and Executive Vice President of Delaney Energy. In addition to his executive leadership roles, Mr. Green is a founding board member of Beyond Energy Services & Technology Corp, which he has guided from a start-up to a >$100m revenue business. He is a graduate of Queens University’s Executive Program and Northern Alberta Institute of Technology. With extensive experience in operational leadership and people management, he is a trusted expert in driving sustainable growth and value creation.

    Sean Hennessy (CFO): Sean is a chartered accountant with over 15 years of finance and accounting experience in the clean energy and infrastructure industries, which includes ten years at Altera Infrastructure (previously Teekay Offshore Partners), a global energy infrastructure group and a Brookfield Business Partners portfolio company. Sean obtained his Chartered Accountant designation at PwC New Zealand, where he worked in both the tax and assurance practices, before transitioning to Canada. He is experienced with financial reporting for public companies under both IFRS and US GAAP, on both the New York Stock Exchange and the Toronto Stock Exchange. Sean completed a Bachelor of Commerce and Administration (Accounting, Finance and Commercial Law) degree and a Bachelor of Science (Mathematics) degree at Victoria University of Wellington.

    Varun Anand (Director): Varun serves as the Outsourced Chief Investment Officer and representative of ASK America LLC. He brings over a decade of global investment experience across public and private markets, with a strong track record of identifying and executing high-quality infrastructure opportunities. An award-winning portfolio manager, Varun has developed particular expertise in the renewable energy sector, having invested extensively in both Canadian and international renewable energy assets. During his tenure at Starlight Capital, he led the investment in the Company’s IPO in 2021 and built one of its largest shareholder positions by 2022. Varun holds a Bachelor of Mathematics with a Finance specialization from the University of Waterloo and is a Chartered Financial Analyst (CFA).

    Blake Almond (Director): Blake has 17 years of experience in M&A and private & public capital markets including 8 years focused on organics, bioenergy and other circular economy infrastructure assets. He spent 10 years with Macquarie Capital in Sydney where he executed M&A and public & private capital markets deals in bioenergy and natural resources. Today he leads the financial advisory business Circ Partners where he advises global infrastructure private equity funds and industrial sponsor clients on circular economy infrastructure investments. Notably, while at Macquarie Capital, Blake advised on cross-border M&A transactions between Canada and Australia including Viterra Inc on the A$1.6bn acquisition of ABB Grain Ltd and Eldorado Gold Corporation on the A$2.1bn acquisition of Sino Gold Mining Limited. Blake is a Member of the Australian Organics Recycling Association (AORA) and the Waste Management and Resource Recovery Association of Australia (WMRR).

    Mischa Zajtmann (Director): Mischa has 15 years of experience providing consulting and executive management expertise for Canadian and American listed companies in the resource sector with projects in South America, Africa, and Asia. He is a co-founder of EverGen. Mischa was a corporate securities lawyer who began his career at Blake, Cassels & Graydon LLP, focused primarily on corporate securities transactions, including M&A and corporate finance. He has advised both purchasers and target companies in a wide variety of M&A transactions—including issuers listed on the Toronto Stock Exchange and TSX Venture Exchange and underwriters, in connection with public offerings and private placements of equity securities, regulatory compliance, and general corporate and commercial matters. Mischa has a Juris Doctor Degree from the University of Saskatchewan Law School and is a member of the British Columbia Bar.

    Corporate Strategy

    With a strengthened balance sheet following the private placement and the appointment of the new management team and board, EverGen is strategically positioned to unlock substantial shareholder value. The Company’s immediate focus is on driving operational excellence, enhancing capital efficiency, and establishing a foundation for scalable growth through the following key pillars:

    Operational Excellence to Maximize Returns: Deployment of performance-driven systems and accountability frameworks across core facilities to drive margin expansion and operational reliability.

    Cost Optimization and Capital Discipline: Allocation of capital to high-impact optimization projects aimed at reducing operating volatility and improving unit economics. Overhead will be streamlined, and opportunities to lower financing costs will be actively pursued to reinforce a lean, agile cost structure.

    Strategic Growth: Upon stabilization of core operations, the Company will leverage industry relationships and execution capabilities to re-initiate disciplined project development and pursue accretive partnership opportunities that support long-term growth and shareholder value creation.

    Shareholder and Stock Exchange Approvals

    Completion of the Private Placement and the Change of Management is subject to approval of the TSX Venture Exchange and disinterested holders of Common Shares holding more than 50% of the Common Shares giving consent to the Private Placement and the Change of Management, in accordance with the policies and requirements of the TSX Venture Exchange by executing a written consent (the “Shareholder Written Consent”).

    EverGen Board Approval and Recommendation

    EverGen previously announced on February 28, 2025 that the Board formed a special independent committee (the “Special Committee”) to evaluate and review potential strategic transactions with the goal of maximizing value for EverGen shareholders and other stakeholders of the Company. Based on the recommendation of the Special Committee, the Board has unanimously approved the Agreement and the Private Placement and has determined that the completion of the Change of Management and the Private Placement is in the best interests of EverGen. The Board recommends that the EverGen shareholders execute the Shareholder Written Consent. Any EverGen shareholder wishing to obtain and execute the Shareholder Written Consent should contact EverGen as set forth below.

    About EverGen Infrastructure Corp.

    EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.

    For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.

    About ASK America LLC

    ASK America LLC is backed by a multi-generational U.S. family office with several decades of investment experience across a broad spectrum of asset classes. The family office has amassed substantial assets under management, fueled by the success of its wholly owned consumer products business as well as the consistent growth of its investment portfolio. Through ASK America LLC, the group brings a combination of operational acumen and patient, long-term capital to its partnerships, with a steadfast commitment to fostering sustainable growth and delivering superior risk-adjusted returns.

    Cautionary Statements Regarding Forward Looking Information

    This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends” “expects” and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning: the completion of the Private Placement and the terms thereof, including the issuance of Common Shares, the completion of the Change of Management, the acceptance of the TSX Venture Exchange of the Private Placement and the Change of Management, the offering price of the Common Shares, the cancellation of certain options, warrants and other equity settled incentive securities of the Company, and receipt of the Shareholder Written Consent. EverGen cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of EverGen, including expectations and assumptions concerning EverGen, the Private Placement, the Change of Management, the timely receipt of all required TSX Venture Exchange, shareholder and regulatory approvals and exemptions (as applicable, including the Shareholder Written Consent) and the satisfaction of other closing conditions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of EverGen. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

    The forward-looking statements contained in this press release are made as of the date of this press release, and EverGen does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

    This press release is not an offer of the securities for sale in the United States. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts
    EverGen Infrastructure Corp.
    Co-founder & Chief Executive Officer
    Mischa Zajtmann
    604-202-7004
    mischa@evergeninfra.com 

    The MIL Network –

  • MIL-OSI United Kingdom: Disposable vapes ban to be introduced from June

    Source: City of Derby

    From 1 June 2025 it will be illegal for businesses to sell or supply, offer to sell or supply, or have in their possession for sale or supply all single use vape products.

    The new legislation applies to all vapes whether they contain nicotine or not and will affect both sales in shop and online.

    A recent study identified that almost five million single use vapes were either littered or thrown away in general waste every week in the UK. Vape batteries contain lithium which can be recycled. This resource is lost when vapes are put in black bins as they end up either in landfill or being incinerated.

    Incorrect disposal can also lead to fires, posing a risk to waste management workers, the fire service, and the public.

    Derby City Council’s Trading Standards team will enforce the ban in the city, with several civil sanctions at their disposal including a stop notice, compliance notices, and fines of £200. Should a business continue to sell or supply vapes, they may be charged with an unlimited fine, a prison sentence up to two years, or both.

    For vapes to be considered reusable, replacement components (including the pre-filled pods, e-liquid refill bottles and coils) must be separately available to buy either in-store or online.

    Businesses can check whether a nicotine-containing vaping product is reusable on the MHRA website, but you must first consider the ‘definition of a reusable vape’ above to make sure the product is refillable and rechargeable.

    As this new legislation will have an impact particularly on small businesses Derby City Council’s Trading Standards team will be visiting selected retailers to offer guidance and support them in being compliant with the regulations.

    Councillor Shiraz Khan, Cabinet Member for Housing, Strategic Planning, and Regulatory Services, said: 

    Single use vapes present a real challenge for our environment, present a safety risk, and can take up valuable time for our waste management workers and emergency service. This new legislation will help us tackle the issues and make our city a cleaner place.

    Businesses should take the time now to prepare so they are not caught out after 1 June. If you need support or any advice around this legislation, please reach out to our Trading Standards team.

    For more information and advice about the ban, businesses can contact the Derby City Council trading standards team on 01332 642424 or by emailing environmental.services@derby.gov.uk.

    More guidance can be found on the Government website.

    MIL OSI United Kingdom –

  • MIL-OSI Global: Trump’s obsession with trade deficits has no basis in economics. And it’s a bad reason for tariffs

    Source: The Conversation – UK – By Nigel Driffield, Professor of International Business, Warwick Business School, University of Warwick

    Those of us who study trade and investment for a living are, I suspect, becoming exasperated with both the White House stance on tariffs and the way that this is reported in much of the media. US president Donald Trump believes that if a country has a trade surplus with the US it is somehow playing unfairly and needs to be dealt with. But anyone who understands the basics of international economics will recognise the fallacy in both of these beliefs.

    Trade takes place based on what economists call “comparative advantage” – countries import those goods that are otherwise relatively expensive for them to produce. And they export what they produce cheaply relative to other countries.

    So the UK, for example, has a trade surplus in services but a deficit in goods that are made in low-cost locations. This is similar to the position of the US.

    To understand what the US is seeking to achieve, the first questions must be: what are tariffs designed to do? And when are they typically applied? These issues lead to another point. If Trump is so convinced that his tariffs will produce a win-win, why haven’t they succeeded before?

    Trade policy in the form of tariffs is designed to make imports more expensive and encourage buyers to switch to domestic producers. This may be an attempt to protect or support local industry, or as part of a bargaining strategy to access others’ markets.

    But this assumes two things. First, that the demand for such imports is relatively price sensitive (that is, buyers will be put off by price rises). And second, that there are domestic producers able to fill this gap at an appropriate price.

    But tariffs can also cause what is known as “trade substitution” – where the country imports the goods from alternative sources instead.

    To illustrate how this can work in practice, the US has long applied tariffs on European whisky, ranging from 10% to 25% in recent years.

    The US already produces various drinks that are considered to be similar to whisky. So the reason for importing is likely for variety, or possibly the allure of consuming a premium product like a Scottish single malt. As such, price increases may not encourage substitution away from imports – or it may trigger substitution to other imports with lower tariffs.

    An alternative example of the case for tariffs is the steel industry. Many countries believe that they should have a steel industry for strategic reasons, but also because steel is an input into so many aspects of the economy.

    There have also been concerns globally in the industry about the pricing of Chinese steel, and whether it should attract tariffs to balance what is seen as unfair competition. Chinese steel receives subsidies from the Chinese government, after all.

    While this may be a valid concern, it also forces governments to make choices about what they see as “strategic industries”. A good example of this is the desire to protect steel jobs in richer countries, in contrast to the willingness to import cheap clothes from Asia in order to keep inflation down.

    This is typically why, if tariffs are used at all, they tend to be targeted to certain industries.

    The wrinkle in Trump’s plan

    So will the US tariffs plan work? Unfortunately for Trump, the answer is probably not. This type of trade policy has been tried, but has seldom been shown to be effective.

    The second point is whether the president of a large global power should be concerned about its trade balance with another country. Unless he believes that the country is engaging in large-scale subsidy in order to dump goods on foreign markets, the answer is almost certainly no.

    Casual inspection of trade statistics for the US and Canada suggests that the most common exports from Canada to the US include crude petroleum, petroleum gas, refined petroleum and motor vehicle parts and accessories.

    Tariffs on the first three will simply push prices up for US consumers. The last one demonstrates, often to the frustration of policymakers who seek to intervene on trade, that there is little that governments can do to influence modern supply chains, unless they seek to break them all together.

    ‘We don’t need anything Canada has.’

    Firms will locate activities based on combinations of efficiency and where their customers are. So seeking to change these patterns through tariffs will simply increase the cost of imported inputs and make production in the US less competitive.

    In simple terms, complaining that you have a trade deficit with one country is like complaining that you have a trade deficit with your corner shop. They sell you things, you give them money, but they never buy from you. They provide goods that you want for money that you earn elsewhere.

    You could shop elsewhere (and have a deficit with the new shop), you can give up your job and even grow your own food. But were you to impose a “tariff” on your corner shop, it would simply put up the prices that you have to pay.

    That the US has a trade deficit is not a sign that the rest of the world is “ripping it off”. It is a reflection of an affluent society with relatively high wages buying products from countries that can produce them more cheaply. Trump’s tariffs will hurt Americans first – basic international economics is clear on that too.

    Nigel Driffield receives funding from the Economic and Social Research Council. He is an inactive member of the Labour Party and an advisor to the mayor of the West Midlands

    – ref. Trump’s obsession with trade deficits has no basis in economics. And it’s a bad reason for tariffs – https://theconversation.com/trumps-obsession-with-trade-deficits-has-no-basis-in-economics-and-its-a-bad-reason-for-tariffs-254512

    MIL OSI – Global Reports –

  • MIL-OSI Africa: 2025 Africa’s Travel Indaba a one-stop marketplace

    Source: South Africa News Agency

    The 2025 Africa’s Travel Indaba is not just a trade show. It is a platform to reshape narratives, forge powerful connections and unlock shared value across the continent, says Tourism Minister Patricia de Lille.

    The highly anticipated 2025 Africa’s Travel Indaba was officially launched today at the iconic Moses Mabhida Stadium in Durban, under the theme: “Unlimited Africa”. 

    The event was led by the Minister, senior representatives from the KwaZulu-Natal Provincial Government and Tourism Authority, South African Tourism and the greater tourism sector – underscoring the strategic importance of tourism as a catalyst for inclusive growth.

    Africa’s Travel Indaba serves as a one-stop marketplace for discovering and sourcing a diverse range of African tourism products and experiences. 

    With over 297 unique offerings, 1 200 exhibitors from across 26 African countries and 908 vetted international buyers representing 55 global markets, the event provides tailored networking opportunities and pre-scheduled business to business meetings – already totalling 7 430 confirmed engagements. 

    Buyers gain unmatched access to curated, diverse, authentic, and emerging travel products for their customers.

    The department said exhibitors benefit from premium exposure to global tourism decision-makers. 

    With a completely sold-out exhibition floor, the event presents a high Return on Investment (ROI) environment for launching new products, forming strategic partnerships and entering new markets. 

    In 2024, over 24 000 business meetings took place at Africa’s Travel Indaba, helping transform ideas into deals and exposure into revenue. The platform also empowers SMMEs through mentorship, visibility and access to global buyers.

    The department unpacked some of the economic impact of the event:

     • R226 million in direct economic activity generated in Durban in 2024, with an additional R333 million across the KwaZulu-Natal province.

    • More than 1 000 jobs created through the event.

    • Empowered 120 tourism SMMEs to engage global buyers and media made possible through funding from the Department of Tourism’s Market Access Support Programme. 

    “We are even more excited about this year’s Africa’s Travel Indaba as it comes soon after we launched our new Global Campaign ‘South Africa Awaits – Come Find Your Joy!’ – a celebration of the country’s boundless energy, rich culture and extraordinary experiences,” said de Lille.

    “Our mission is to ensure that all visitors come find their joy across the length and breadth of South Africa and discover all our diverse tourism offerings and our hidden gems in every little town, dorpie and township.” 

    Sibusiso Ndebele, representing KZN Tourism and Film Authority, said this prestigious tourism exhibition is the perfect platform to showcase the destination’s offerings to the thousands of tourism buyers coming from all over the world who will be looking for exciting tourism destinations to sell and package to their customers. 

    “ATI also benefits our emerging tourism entrepreneurs who will have an opportunity to make valuable connections with the global trade that can to propel their tourism businesses to greater heights. 

    “Over the years, we have also spearheaded our Tourism Ambassador programme that gives tourism students opportunities to be on the frontline of tourism and play a pivotal role in welcoming our guests to KZN. We remain hopeful to host the event for the next few decades and make KwaZulu-Natal Africa’s Travel Indaba’s permanent home,” said Ndebele.

    Nkosenhle Madlala, Chairperson of Governance and Human Capital in the eThekwini Metro, said: “As we embark on our preparations for Africa’s Travel Indaba, we are not only celebrating our vibrant culture and stunning landscapes but also reaffirming our unwavering spirit and resilience. Durban stands ready to showcase our hospitality and commitment to excellence in the global tourism sector.”

    Some of the key highlights to look forward to at this year’s Africa’s Travel Indaba are as follows:

    • Business Opportunity Networking Day: Where ideas meet opportunity and emerging trends take shape.

    • AI and tech-focused sessions: Exploring how technology can enhance the tourism customer journey.

    • Cross-border Tourism Collaboration Forums: Supporting regional growth through collective marketing and shared offerings.

    • 12 Independent Airlines and an Airline Pavilion: Boosting air access and route development across Africa.

     With the G20 Summit being hosted in South Africa, on African soil for the first time this year, Africa’s Travel Indaba also sets the stage for positioning the continent as a leading player in global tourism dialogue and as a leader in hosting major events and conferences. 

    “Tourism is not a side act in our economic story – it is centre stage. We invite all delegates to come experience the might of the African continent’s tourism sector while enjoying South Africa’s hospitality in the province of Kwa Zulu-Natal. South Africa awaits – Come find your joy,” said de Lille. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: LPL Welcomes Synergy Wealth Strategies

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 23, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that financial advisor James “Jim” Verdi, CFP®, has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving approximately $350 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.

    Based in Smithtown, N.Y., Verdi founded Synergy Wealth Strategies in 2008, driven by the mission that investors deserve a reputable, stable and safe place to house their investments. The firm’s name comes from the definition of synergy: the combined power of a group of things when they are working together that is greater than the total power achieved by each working separately. Together with his team, Verdi takes a comprehensive and holistic approach to wealth management to help clients create a more confident financial future for themselves and their families.

    “Our clients’ goals are well thought out and often quite complex. Their portfolios should reflect the same,” Verdi said. “We do not believe in ‘cookie-cutter’ solutions to complex issues. Instead, our investment advisory team spends the time to carefully consider the intricate issues of each individual and utilize the products and services that best suit the specific needs of each client.”

    Looking to enhance their client experience, improve their technological capabilities and grow their business, the Synergy Wealth Strategies team turned to LPL Financial.

    “By partnering with LPL, we can provide large-firm asset management with boutique-firm planning and strategy,” Verdi said. “With LPL’s integrated technology platform, we can access everything we need with a single sign-on, and by using their back-office support, we will be able to spend more time with our clients — where we belong.”

    Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Jim and his team to the LPL community and wish them success with this next chapter of their business. Like Jim, we understand that the whole is greater than the sum of its parts. To that end, LPL is committed to investing in industry-leading capabilities and strategic resources to help advisors thrive both operationally and strategically. We look forward to supporting Synergy Wealth Strategies for years to come.”

    Related

    Advisors, learn how LPL Financial can help take your business to the next level.

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

    Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Synergy Wealth Strategies and LPL Financial are separate entities.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    *Value approximated as reported to LPL

    Media Contact: 
    Media.relations@LPLFinancial.com 

    Tracking #723134

    The MIL Network –

  • MIL-OSI: Retirement Industry Disruptor™, Human Interest, Introduces PartnerConnect™, Redefining the 401(k) Experience for Financial Advisors

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 23, 2025 (GLOBE NEWSWIRE) — Today, Human Interest, a multi award-winning 401(k) provider1, is once again pushing boundaries in the retirement industry by launching PartnerConnect™, an integrated platform that empowers financial advisors to seamlessly create, manage, and monitor their clients’ 401(k) plans and investments from a single dashboard. To build this intuitive digital platform, Human Interest invested over 50,000 hours in product and engineering over the last year in direct consultation with dozens of financial advisors.

    Targeted to both retirement plan advisors and wealth advisors, PartnerConnect includes innovative features that have long been on advisors’ wish lists: the ability to view and manage multiple clients across one platform, tools to quickly design and change custom investment lineups, and the elimination of dozens of manual processes historically associated with setting up 401(k) plans. PartnerConnect is designed to be an integral tool for advisors to help them grow their business and better advise their clients.

    “Advisors are on the front lines of the effort to help investors and businesses navigate our challenging retirement system – and their partnership is crucial to Human Interest’s mission to deliver retirement plans for people from all lines of work,” said Rakesh Mahajan, Chief Revenue Officer at Human Interest. “That’s why we designed PartnerConnect with advisors at the heart of the experience.”

    Hot on the heels of their brazen Customer Experience Guarantee, an industry-leading commitment to service excellence for all 401(k) customers, Human Interest has now taken on legacy providers who expect advisors to toggle between clunky tools, spreadsheets, and endless rounds of phone tag with offshore support teams. Advisors spend nearly 1,000 hours2 a year on administrative and compliance tasks instead of focusing their time on their customers. PartnerConnect is specifically designed to eliminate many of the burdensome, mundane administration tasks that advisors hate.

    “Setting up new plans takes a fair amount of time and several manual processes, including sending emails and documents back and forth. A platform that could automate this process will help me spend less time on administrative work and more time focused on my clients,” said Noel Dulac, Managing Partner, Retirement Fiduciary Group, LLC.

    PartnerConnect integrates plan design, proposal management, fund lineup, and participant data into a single solution, with features that include:

    • A digital-first approach enables advisors to request and review proposals online and onboard new clients directly into the platform, eliminating multiple email threads.
    • An integrated dashboard provides a single view across all retirement plans in an advisor’s book of business, eliminating the need for multiple login accounts.
    • A flexible investment toolkit offers over 3,000 funds, and advisors can easily adjust funds or create lineup templates for replication across multiple plans, eliminating the need to email Excel files manually.
    • Bulk fund mapping allows advisors to select a single fund used across multiple plans and initiate a swap in just five clicks, eliminating the need for creating innumerable support cases for dozens of plans to make the same change.
    • ParticipantIQ™ will spotlight participant milestones (retirement, termination, salary increase, etc.) and help identify new participant engagement opportunities.

    In describing PartnerConnect, Bob Darrow, President at Strive Retirement, commented, “It’s about time the industry created something like this. Most platforms make it too complicated to support our clients and grow our book of business. This platform is comprehensive and easy to use, and will allow us to scale up our service model, delivering even more value to our clients.”

    The retirement savings gap is a significant challenge affecting millions of workers in America, and Human Interest is committed to being part of the solution. PartnerConnect is the latest in a series of innovations transforming the retirement industry, with an unwavering focus on removing barriers that keep people from investing in their future.

    Financial advisors interested in learning more can contact their Human Interest representative or visit our website at humaninterest.com/solutions/partnerconnect/.    

    About Human Interest

    Human Interest, Retirement Industry Disruptor™, is focused on fixing a broken industry that often relies on legacy technology, manual processes, and offshored service models. Human Interest is transforming the way 401(k)s should work, including several industry firsts: eliminating transaction fees3, offering a cash-back incentive program for plan participants, and the first of its kind money-backed customer experience guarantee.

    Human Interest has won several accolades this year, including the 2025 Fast Company Most Innovative Award and the 2025 Stevie Gold Award in Customer Experience. Founded in 2015 and headquartered in San Francisco, Human Interest has helped provide retirement benefits to employees at nearly 35,000 companies and counting. For more information, please visit humaninterest.com.

    Media Contacts
    press@humaninterest.com

    Maura Lafferty
    Firebrand Communications for Human Interest
    humaninterest@firebrand.marketing


    1     Human Interest was awarded the “Gold Stevie Award” medal in the 2025 Stevie AwardsⓇ for Sales & Customer Service in “Customer Experience.” The company was awarded a “Silver Stevie Award” in “Customer Service Employer of the Year.” Winners were determined by the average scores of more than 170 professionals worldwide in the three-month judging process. Read more about the winning organizations here and criteria for the award here. American Business Awards are registered trademarks of Stevie Awards, Inc. Stevie Awards, Inc. is not affiliated with Human Interest. This recognition is not indicative of Human Interest’s future performance.
    Human Interest was awarded the “Gold Stevie Award” medal in the 2025 Stevie AwardsⓇ for Sales & Customer Service in “Customer Experience.” The company was awarded a “Silver Stevie Award” in “Customer Service Employer of the Year.” Winners were determined by the average scores of more than 170 professionals worldwide in the three-month judging process. Read more about the winning organizations: https://stevieawards.com/sales/2025-stevie-award-winners and criteria for the award here: https://stevieawards.com/aba/judging-awards-process. American Business Awards are registered trademarks of Stevie Awards, Inc. Stevie Awards, Inc. is not affiliated with Human Interest. This recognition is not indicative of Human Interest’s future performance.
    Human Interest Inc. is honored to be recognized as one of Fast Company’s Most Innovative Companies in Finance and Personal Finance for 2025. See the full list here.

    2Natixis Global Survey of Financial Professionals, 2024

    3For non-rollover distributions, shipping and handling fees may apply to requests for check issuance and delivery.

    The MIL Network –

  • MIL-OSI: Sprout Social Celebrates 15 Years of Innovation, Growth and Empowering Brands to Drive Revenue and Industry Impact on Social

    Source: GlobeNewswire (MIL-OSI)

    • Sprout Social expanded and reimagined its core Social Media Management platform with AI-driven customer care, employee advocacy, analytics and influencer marketing solutions—releasing over 200 new product capabilities in 2024 alone.
    • The company increased its global footprint with a team of over 1,000 employees around the world, with offices in Chicago, Seattle, Dublin and a newly expanded presence in Krakow.
    • Since going public in 2019, Sprout has delivered a compound annual growth rate of 32% and now serves approximately 30,000 customers in more than 100 countries.

    CHICAGO, April 23, 2025 (GLOBE NEWSWIRE) — Fifteen years ago, social media was an emerging curiosity and little understood tool that was often relegated to the margins of marketing strategies. Today, social media has evolved from a simple means for engagement to the epicenter of culture, commerce and connection. Social has become a mission-critical channel for brands, powering the entire customer journey and fueling business growth. Sprout Social (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today celebrates 15 years of helping brands harness the ever-evolving power of social to build stronger connections and drive business-wide impact.

    “Social media has fundamentally changed where consumers spend their time and how they make decisions,” said Ryan Barretto, CEO of Sprout Social. “All business is social, and brands can’t rely on yesterday’s playbook. To win today, they need to be present where discovery, service, and loyalty happen—in real time, on social. We’ve spent 15 years building for this, and we’re just getting started.”

    Since going public in 2019, Sprout has delivered a strong 32% compound annual growth rate and supports approximately 30,000 customers in more than 100 countries. The company is powered by a global team of more than 1,000 employees with offices in Chicago, Seattle, Dublin, and Krakow.

    This moment in social is marked by swift advancements in AI, increased consumer expectations and the rise of the influencer as well as emerging platforms. Sprout has continuously evolved its platform to meet the growing complexity and importance of social. The company launched powerful solutions across analytics, employee advocacy, and customer care, while also expanding through strategic acquisitions to support robust listening and influencer marketing solutions as well as an accelerated AI technology roadmap. This commitment to customer-led innovation earned Sprout the #1 spot on G2’s 2024 Best Software Award.

    As recognition of this milestone and of the company’s market importance, Sprout Social will ring the Nasdaq Closing Bell today. Following the ceremony, Sprout Social executives will be joined by customers for a panel discussion that looks towards the future of social, highlighting the industry’s most impactful shifts from the rise of influencers to the growing use cases of AI.

    For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com/about/allbusinessissocial/

    Social Media Profiles:
    www.x.com/SproutSocial
    www.x.com/SproutSocialIR
    www.facebook.com/SproutSocialInc
    www.linkedin.com/company/sprout-social-inc-/
    www.instagram.com/sproutsocial

    Contact
    Media:
    Kaitlyn Gronek
    Email: pr@sproutsocial.com
    Phone: (773) 904-9674

    Investors:
    Lexi Johnson
    Email: lexi.johnson@sproutsocial.com
    Phone: (312) 528-9166

    About Sprout Social

    Sprout Social is a global leader in social media management and analytics software, built on the belief that All Business is Social℠. Sprout’s intuitive platform puts powerful social data into the hands of approximately 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms.

    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 some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “can,” “continue,” “could,” “enables,” “estimate,” “expect,” “explore,” “intend,” “long-term model,” “may,” “might” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “strategy,” “target,” “will,” “would,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. These statements may relate to the success, performance, and effect on our business and customers of our product features, our market size and growth strategy, our estimated and projected costs, margins, revenue, expenditures and customer and financial growth rates, our plans and objectives for future operations, growth, initiatives or strategies. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the forward-looking statements. These assumptions, uncertainties and risks include that, among others: we may not be able to sustain our revenue and customer growth rate in the future; price increases have and may continue to negatively impact demand for our products, customer acquisition and retention and reduce the total number of customers or customer additions; our business would be harmed by any significant interruptions, delays or outages in services from our platform, our API providers, or certain social media platforms; if we are unable to attract potential customers through unpaid channels, convert this traffic to free trials or convert free trials to paid subscriptions, our business and results of operations may be adversely affected; we may be unable to successfully enter new markets, manage our international expansion and comply with any applicable international laws and regulations; we may be unable to integrate acquired businesses or technologies successfully or achieve the expected benefits of such acquisitions and investments; unstable market and economic conditions, such as recession risks, effects of inflation, labor shortages, supply chain issues, high interest rates, and the impacts of current and potential future bank failures and impacts of ongoing overseas conflicts, could adversely impact our business and that of our existing and prospective customers, which may result in reduced demand for our products; we may not be able to generate sufficient cash to service our indebtedness; covenants in our credit agreement may restrict our operations, and if we do not effectively manage our business to comply with these covenants, our financial condition could be adversely impacted; any cybersecurity-related attack, significant data breach or disruption of the information technology systems or networks on which we rely could negatively affect our business; and changing regulations relating to privacy, information security and data protection could increase our costs, affect or limit how we collect and use personal information and harm our brand. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 23, 2024, as well as any future reports that we file with the SEC. Moreover, you should interpret many of the risks identified in those reports as being heightened as a result of the current instability in market and economic conditions. Forward-looking statements speak only as of the date the statements are made and are based on information available to Sprout Social at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Sprout Social assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    The MIL Network –

  • MIL-OSI: EquityZen Announces Key Executive Promotions: Brian Griffith to Chief Business Officer and Sudesh Kulkarni to Chief Product Officer

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — EquityZen, a leading marketplace for buying and selling private company equity, today announced the promotions of Brian Griffith to Chief Business Officer and Sudesh Kulkarni to Chief Product Officer. These appointments come as EquityZen continues to expand its platform and reach in the private market. 

    In his new Chief Business Officer role, Griffith will focus on driving growth, operational efficiency, and data-driven decision making. He will spearhead efforts across go-to-market, technology, and operations to expand EquityZen’s marketplace and provide more investors access to pre-IPO investments and more shareholders access to company-approved liquidity.

    Griffith joined EquityZen in 2019 as Chief of Staff and during his tenure has overseen the finance, sales, and marketing functions. He spent four years as EquityZen’s Head of Business Operations before being promoted to Chief Business Officer. Notably, he has contributed to EquityZen closing over 45,000 private market transactions in more than 450 companies since 2013 and enabling crucial scale across the organization. Prior to EquityZen, Griffith spent 10 years at KPMG, where he helped build and scale KPMG’s Private Enterprise practice. Griffith holds an MBA from the Kellogg School of Management at Northwestern University and a Bachelor’s degree from the University of Illinois.

    “I am excited to take on this new role at EquityZen,” said Griffith. “I believe that EquityZen has a unique opportunity to democratize access to the private markets, and I am committed to helping the company achieve its full potential.”

    Sudesh Kulkarni has been promoted to Chief Product Officer and will continue to oversee the firm’s product and technology functions. Kulkarni joined EquityZen in August 2022 as Vice President of Product. 

    Prior to joining EquityZen, Kulkarni held leadership positions in product and technology at Capitolis, Intercontinental Exchange and Wells Fargo. Sudesh holds a Bachelor’s degree in Engineering from the University of Pune, India, and a Master’s degree in Finance from the Illinois Institute of Technology, Chicago. He has earned Fintech and Product certifications from UC Berkeley Haas, Project Management Institute, and Product School. 

    Since joining EquityZen, Kulkarni has led the transformation of the product organization with his steadfast leadership and deep expertise in financial technology. He has brought strategic direction and has improved platform functionality and customer experience, while simultaneously enhancing operational productivity.

    “As private markets continue their unprecedented growth trajectory, I am energized to build upon the strong foundation we’ve established at EquityZen,” said Kulkarni. “Customer-centricity remains the cornerstone of our product and technology strategy as we look to thoughtfully and responsibly integrate emerging technologies, particularly AI, to deliver meaningful improvements to the digital experiences our customers rely upon.”

    “Brian and Sudesh are both proven leaders with cross-functional experience and deep expertise in their respective fields. They have brought perspective and leadership to our company as we continue to build a more accessible, efficient, and transparent platform,” said Atish Davda, CEO of EquityZen. “Their contributions have been invaluable to EquityZen’s success and are especially important as private market investments continue to grow in significance in the average investors’ portfolio.”

    About EquityZen

    Since 2013, the EquityZen marketplace has enabled the buying and selling of shares in private companies. EquityZen brings together over 700,000 investors and shareholders, providing liquidity to early shareholders and private market access to accredited investors for as little as $5,000 up to well over $5 million. Having completed more than 45,000 private placements in more than 450 private companies, EquityZen leads the way in delivering “Private Markets for the Public”.

    Media Contact
    Deborah Kostroun, Zito Partners
    deborah@zitopartners.com
    +1 (201) 403-8185

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dea3ccf-6886-4c10-8567-4c50eec20af2

    The MIL Network –

  • MIL-OSI: SIOS Technology Announces Strategic Partnership with DataHub Nepal to Deliver High-Availability and Disaster Recovery Solutions in Nepal

    Source: GlobeNewswire (MIL-OSI)

    SAN MATEO, Calif., April 23, 2025 (GLOBE NEWSWIRE) — SIOS Technology Corp., a leading provider of application high availability (HA) and disaster recovery (DR) solutions, today announced a strategic partnership with DataHub Nepal, a trusted leader in co-location, hosting, premium data centers, cloud, and managed services in Nepal. The collaboration aims to strengthen the availability and resilience of mission-critical applications for businesses across the region.

    “Our strategic partnership with SIOS Technology has significantly enhanced our ability to deliver proven, robust, and cost-effective HA and DR solutions,” said Deepak Shrestha, Managing Director, DataHub Nepal. “Businesses throughout Nepal can now operate with greater resilience, confident that their critical data and operations are protected by our cutting-edge HA/DR services.”

    With over a decade of expertise, DataHub Nepal stands as a leading provider of secure, scalable, and reliable infrastructure designed to ensure seamless business continuity. Leveraging state-of-the-art infrastructure, DataHub empowers businesses to maintain uninterrupted operations despite unforeseen disasters. Its comprehensive range of services includes IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a-Service), Virtual Private Cloud (VPC), Private Cloud, Backup and Disaster Recovery as a Service (DRaaS), and Web Application Firewall (WAF).

    Strengthening its business continuity and disaster recovery offerings, DataHub Nepal has partnered with SIOS Technology to deliver HA and DR solutions across various industries, including banking, financial institutions, ICT companies, fintech, and enterprises/SMEs within Nepal.

    DataHub utilizes the SIOS Protection Suite for Windows/Linux environments, implementing SIOS clustering to achieve high-availability service level agreements (SLAs) established by Customer Business Continuity Plans within optimal cost parameters. The SIOS solution seamlessly aligns with its business continuity requirements, offering established reliability, minimal downtime, and protection against false failovers.

    They found that with the SIOS HA solution, they were able to help customers save more than 70% of the costs without having to invest in expensive SAN hardware, or enterprise editions of SQL, Oracle Databases, SAP and other applications, which is one of the many deciding factors for many of their customers, on top of a highly reliable software and dependable support team that differentiates SIOS from other vendors in similar space.

    “We are excited to partner with DataHub Nepal to deliver high availability and disaster recovery solutions that meet the critical needs of businesses throughout the region,” said Masahiro Arai, Chief Operating Officer, SIOS Technology. “This collaboration underscores our commitment to providing dependable, cost-effective solutions that enable customers to achieve their business continuity goals with confidence.”

    About SIOS Technology Corp.

    SIOS Technology Corp. high availability and disaster recovery solutions ensure availability and eliminate data loss for critical Windows and Linux applications operating across physical, virtual, cloud, and hybrid cloud environments. SIOS clustering software is essential for any IT infrastructure with applications requiring a high degree of resiliency, ensuring uptime without sacrificing performance or data, protecting businesses from local failures and regional outages, planned and unplanned. Founded in 1999, SIOS Technology Corp. (https://us.sios.com) is headquartered in San Mateo, California, with offices worldwide.

    SIOS, SIOS Technology, SIOS DataKeeper, SIOS LifeKeeper, and associated logos are registered trademarks or trademarks of SIOS Technology Corp. and/or its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

    Media Contact:

    Beth Winkowski
    Winkowski Public Relations, LLC for SIOS
    978-649-7189
    bethwinkowski@US.SIOS.com

    The MIL Network –

  • MIL-OSI: First Hawaiian, Inc. Reports First Quarter 2025 Financial Results and Declares Dividend

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU, April 23, 2025 (GLOBE NEWSWIRE) — First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended March 31, 2025.

    “I’m pleased to report that First Hawaiian Bank started 2025 with a solid quarter. Retail deposits continued to grow, net interest income rose from the prior quarter, expenses were well managed, and credit quality remained strong,” said Bob Harrison, Chairman, President, and CEO. “Despite the current economic uncertainty, our customers can be confident in the strength of our balance sheet, our solid capital position, and our deep roots in the community, which provide the stability and reliability that define us.”

    On April 22, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on May 30, 2025, to stockholders of record at the close of business on May 19, 2025.

    First Quarter 2025 Highlights:

    • Net income of $59.2 million, or $0.47 per diluted share
    • Total loans and leases declined $115.2 million versus prior quarter
    • Total deposits declined $106.4 million versus prior quarter
    • Net interest margin increased 5 basis points to 3.08%
    • Recorded a $10.5 million provision for credit losses
    • Board of Directors declared a quarterly dividend of $0.26 per share

    Balance Sheet

    Total assets were $23.7 billion at March 31, 2025 versus $23.8 billion at December 31, 2024.

    Gross loans and leases were $14.3 billion as of March 31, 2025, a decrease of $115.2 million, or 0.8%, from $14.4 billion as of December 31, 2024.

    Total deposits were $20.2 billion as of March 31, 2025, a decrease of $106.4 million, or 0.5%, from $20.3 billion as of December 31, 2024.

    Net Interest Income

    Net interest income for the first quarter of 2025 was $160.5 million, an increase of $1.8 million, or 1.1%, compared to $158.8 million for the prior quarter.

    The net interest margin was 3.08% in the first quarter of 2025, an increase of 5 basis points compared to 3.03% in the prior quarter.

    Provision Expense

    During the quarter ended March 31, 2025, we recorded a $10.5 million provision for credit losses. In the quarter ended December 31, 2024, we recorded a $0.8 million negative provision for credit losses.

    Noninterest Income

    Noninterest income was $50.5 million in the first quarter of 2025, an increase of $21.1 million compared to noninterest income of $29.4 million in the prior quarter. Noninterest income in the fourth quarter of 2024 included a $26.2 million loss on the sale of investment securities.

    Noninterest Expense

    Noninterest expense was $123.6 million in the first quarter of 2025, a decrease of $0.6 million compared to noninterest expense of $124.1 million in the prior quarter.

    The efficiency ratio was 58.2% and 65.5% for the quarters ended March 31, 2025 and December 31, 2024, respectively.

    Taxes

    The effective tax rate was 23.0% and 18.9% for the quarters ended March 31, 2025 and December 31, 2024, respectively.

    Asset Quality

    The allowance for credit losses was $166.6 million, or 1.17% of total loans and leases, as of March 31, 2025, compared to $160.4 million, or 1.11% of total loans and leases, as of December 31, 2024. The reserve for unfunded commitments was $33.3 million as of March 31, 2025, compared to $32.8 million as of December 31, 2024. Net charge-offs were $3.8 million, or 0.11% of average loans and leases on an annualized basis, for the quarter ended March 31, 2025, compared to net charge-offs of $3.4 million, or 0.09% of average loans and leases on an annualized basis, for the quarter ended December 31, 2024. Total non-performing assets were $20.2 million, or 0.14% of total loans and leases and other real estate owned, on March 31, 2025, compared to total non-performing assets of $20.7 million, or 0.14% of total loans and leases and other real estate owned, on December 31, 2024.

    Capital

    Total stockholders’ equity was $2.6 billion on March 31, 2025 and December 31, 2024.

    The tier 1 leverage, common equity tier 1 and total capital ratios were 9.01%, 12.93% and 14.17%, respectively, on March 31, 2025, compared with 9.14%, 12.80% and 13.99%, respectively, on December 31, 2024.

    The Company repurchased 974 thousand shares of common stock at a total cost of $25.0 million under the stock repurchase program in the first quarter. The average cost was $25.66 per share repurchased.

    First Hawaiian, Inc.

    First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services. Customers may also access their accounts through ATMs, online and mobile banking channels. For more information about First Hawaiian, Inc., visit the Company’s website, www.fhb.com.

    Conference Call Information

    First Hawaiian will host a conference call to discuss the Company’s results today at 1:00 p.m. Eastern Time, 7:00 a.m. Hawaii Time.

    To access the call by phone, please register via the following link:
    https://register-conf.media-server.com/register/BI13d3259b1b3b46188926f83e1bbe1316, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

    A live webcast of the conference call, including a slide presentation, will be available at the following link: www.fhb.com/earnings. The archive of the webcast will be available at the same location.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, there can be no assurance that actual results will not prove to be materially different from the results expressed or implied by the forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements, including (without limitation) the risks and uncertainties associated with the domestic and global economic environment and capital market conditions and other risk factors. For a discussion of some of these risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2024.

    Use of Non-GAAP Financial Measures

    Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We believe that these measurements are useful for investors, regulators, management and others to evaluate financial performance and capital adequacy relative to other financial institutions. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results or financial condition as reported under GAAP. Investors should consider our performance and capital adequacy as reported under GAAP and all other relevant information when assessing our performance and capital adequacy.

    Table 12 at the end of this document provides a reconciliation of these non-GAAP financial measures with their most directly comparable GAAP measures.

                         
    Financial Highlights   Table 1
        For the Three Months Ended  
        March 31,    December 31,    March 31,   
    (dollars in thousands, except per share data)   2025   2024     2024  
    Operating Results:                    
    Net interest income   $ 160,526   $ 158,753     $ 154,427  
    Provision (benefit) for credit losses     10,500     (750 )     6,300  
    Noninterest income     50,477     29,376       51,371  
    Noninterest expense     123,560     124,143       128,813  
    Net income     59,248     52,496       54,220  
    Basic earnings per share     0.47     0.41       0.42  
    Diluted earnings per share     0.47     0.41       0.42  
    Dividends declared per share     0.26     0.26       0.26  
    Dividend payout ratio     55.32 %   63.41   %   61.90 %
    Performance Ratios(1):                    
    Net interest margin     3.08 %   3.03   %   2.91 %
    Efficiency ratio     58.22 %   65.51   %   62.15 %
    Return on average total assets     1.01 %   0.88   %   0.90 %
    Return on average tangible assets (non-GAAP)(2)     1.05 %   0.92   %   0.94 %
    Return on average total stockholders’ equity     9.09 %   7.94   %   8.73 %
    Return on average tangible stockholders’ equity (non-GAAP)(2)     14.59 %   12.78   %   14.53 %
    Average Balances:                    
    Average loans and leases   $ 14,309,998   $ 14,276,107     $ 14,312,563  
    Average earning assets     21,169,194     21,079,951       21,481,890  
    Average assets     23,890,459     23,795,735       24,187,207  
    Average deposits     20,354,040     20,249,573       20,571,930  
    Average stockholders’ equity     2,641,978     2,629,600       2,496,840  
    Market Value Per Share:                    
    Closing     24.44     25.95       21.96  
    High     28.28     28.80       23.12  
    Low     23.95     22.08       20.37  
                         
        As of   As of   As of  
        March 31,    December 31,    March 31,   
    (dollars in thousands, except per share data)   2025   2024   2024  
    Balance Sheet Data:                    
    Loans and leases   $ 14,293,036   $ 14,408,258   $ 14,320,208  
    Total assets     23,744,958     23,828,186     24,279,186  
    Total deposits     20,215,816     20,322,216     20,669,481  
    Short-term borrowings     250,000     250,000     500,000  
    Total stockholders’ equity     2,648,852     2,617,486     2,513,761  
                         
    Per Share of Common Stock:                    
    Book value   $ 21.07   $ 20.70   $ 19.66  
    Tangible book value (non-GAAP)(2)     13.15     12.83     11.88  
                         
    Asset Quality Ratios:                    
    Non-accrual loans and leases / total loans and leases     0.14 %   0.14 %   0.13 %
    Allowance for credit losses for loans and leases / total loans and leases     1.17 %   1.11 %   1.12 %
                         
    Capital Ratios:                    
    Common Equity Tier 1 Capital Ratio     12.93 %   12.80 %   12.55 %
    Tier 1 Capital Ratio     12.93 %   12.80 %   12.55 %
    Total Capital Ratio     14.17 %   13.99 %   13.75 %
    Tier 1 Leverage Ratio     9.01 %   9.14 %   8.80 %
    Total stockholders’ equity to total assets     11.16 %   10.98 %   10.35 %
    Tangible stockholders’ equity to tangible assets (non-GAAP)(2)     7.27 %   7.10 %   6.52 %
                         
    Non-Financial Data:                    
    Number of branches     48     48     50  
    Number of ATMs     273     273     275  
    Number of Full-Time Equivalent Employees     1,995     1,997     2,065  

    (1) Except for the efficiency ratio, amounts are annualized for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024.

    (2) Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We compute our return on average tangible assets as the ratio of net income to average tangible assets, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total assets. We compute our return on average tangible stockholders’ equity as the ratio of net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total stockholders’ equity. We compute our tangible book value per share as the ratio of tangible stockholders’ equity to outstanding shares. Tangible stockholders’ equity is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our total stockholders’ equity. We compute our tangible stockholders’ equity to tangible assets as the ratio of tangible stockholders’ equity to tangible assets, each of which we calculate by subtracting (and thereby effectively excluding) the value of our goodwill. For a reconciliation to the most directly comparable GAAP financial measure, see Table 12, GAAP to Non-GAAP Reconciliation.

                       
    Consolidated Statements of Income   Table 2
        For the Three Months Ended
        March 31,    December 31,    March 31, 
    (dollars in thousands, except per share amounts)   2025   2024     2024
    Interest income                  
    Loans and lease financing   $ 192,102   $ 198,347     $ 199,844
    Available-for-sale investment securities     13,150     12,767       14,546
    Held-to-maturity investment securities     16,647     17,071       17,793
    Other     13,251     11,977       12,769
    Total interest income     235,150     240,162       244,952
    Interest expense                  
    Deposits     71,709     78,465       84,143
    Short-term borrowings     2,599     2,685       5,953
    Other     316     259       429
    Total interest expense     74,624     81,409       90,525
    Net interest income     160,526     158,753       154,427
    Provision (benefit) for credit losses     10,500     (750 )     6,300
    Net interest income after provision (benefit) for credit losses     150,026     159,503       148,127
    Noninterest income                  
    Service charges on deposit accounts     7,535     7,968       7,546
    Credit and debit card fees     14,474     14,834       16,173
    Other service charges and fees     12,167     13,132       9,904
    Trust and investment services income     9,370     9,449       10,354
    Bank-owned life insurance     4,371     5,713       4,286
    Investment securities gains (losses), net     37     (26,171 )     —
    Other     2,523     4,451       3,108
    Total noninterest income     50,477     29,376       51,371
    Noninterest expense                  
    Salaries and employee benefits     60,104     59,003       59,262
    Contracted services and professional fees     14,839     14,472       15,739
    Occupancy     8,100     7,708       6,941
    Equipment     13,871     14,215       13,413
    Regulatory assessment and fees     3,823     3,745       8,120
    Advertising and marketing     2,179     1,529       2,612
    Card rewards program     7,919     7,926       8,508
    Other     12,725     15,545       14,218
    Total noninterest expense     123,560     124,143       128,813
    Income before provision for income taxes     76,943     64,736       70,685
    Provision for income taxes     17,695     12,240       16,465
    Net income   $ 59,248   $ 52,496     $ 54,220
    Basic earnings per share   $ 0.47   $ 0.41     $ 0.42
    Diluted earnings per share   $ 0.47   $ 0.41     $ 0.42
    Basic weighted-average outstanding shares     126,281,802     127,350,626       127,707,354
    Diluted weighted-average outstanding shares     127,166,932     128,167,502       128,217,689
                       
    Consolidated Balance Sheets   Table 3
    (dollars in thousands, except share amount)   March 31,
    2025
    		   December 31,
    2024
    		   March 31,
    2024
    Assets                  
    Cash and due from banks   $ 240,738     $ 258,057     $ 202,121  
    Interest-bearing deposits in other banks     1,073,841       912,133       1,072,145  
    Investment securities:                  
    Available-for-sale, at fair value (amortized cost: $2,091,034 as of March 31, 2025, $2,190,448 as of December 31, 2024 and $2,466,109 as of March 31, 2024)     1,858,428       1,926,516       2,159,338  
    Held-to-maturity, at amortized cost (fair value: $3,250,275 as of March 31, 2025, $3,262,509 as of December 31, 2024 and $3,470,710 as of March 31, 2024)     3,724,908       3,790,650       3,988,011  
    Loans held for sale     1,547       —       —  
    Loans and leases     14,293,036       14,408,258       14,320,208  
    Less: allowance for credit losses     166,612       160,393       159,836  
    Net loans and leases     14,126,424       14,247,865       14,160,372  
                       
    Premises and equipment, net     292,576       288,530       281,181  
    Accrued interest receivable     78,973       79,979       85,715  
    Bank-owned life insurance     495,567       491,890       484,193  
    Goodwill     995,492       995,492       995,492  
    Mortgage servicing rights     4,926       5,078       5,533  
    Other assets     851,538       831,996       845,085  
    Total assets   $ 23,744,958     $ 23,828,186     $ 24,279,186  
    Liabilities and Stockholders’ Equity                  
    Deposits:                  
    Interest-bearing   $ 13,330,265     $ 13,347,068     $ 13,620,928  
    Noninterest-bearing     6,885,551       6,975,148       7,048,553  
    Total deposits     20,215,816       20,322,216       20,669,481  
    Short-term borrowings     250,000       250,000       500,000  
    Retirement benefits payable     96,241       97,135       102,242  
    Other liabilities     534,049       541,349       493,702  
    Total liabilities     21,096,106       21,210,700       21,765,425  
                       
    Stockholders’ equity                  
    Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,139,353 / 125,692,598 shares as of March 31, 2025, issued/outstanding: 141,748,847 / 126,422,898 shares as of December 31, 2024 and issued/outstanding: 141,687,612 / 127,841,908 shares as of March 31, 2024)     1,421       1,417       1,417  
    Additional paid-in capital     2,564,408       2,560,380       2,551,488  
    Retained earnings     960,337       934,048       858,494  
    Accumulated other comprehensive loss, net     (433,769 )     (463,994 )     (523,780 )
    Treasury stock (16,446,755 shares as of March 31, 2025, 15,325,949 shares as of December 31, 2024 and 13,845,704 shares as of March 31, 2024)     (443,545 )     (414,365 )     (373,858 )
    Total stockholders’ equity     2,648,852       2,617,486       2,513,761  
    Total liabilities and stockholders’ equity   $ 23,744,958     $ 23,828,186     $ 24,279,186  
                                                       
    Average Balances and Interest Rates                                               Table 4
        Three Months Ended   Three Months Ended   Three Months Ended  
        March 31, 2025   December 31, 2024   March 31, 2024  
        Average   Income/   Yield/   Average   Income/   Yield/   Average   Income/   Yield/  
    (dollars in millions)   Balance   Expense   Rate   Balance   Expense   Rate   Balance   Expense   Rate  
    Earning Assets                                                  
    Interest-Bearing Deposits in Other Banks   $ 1,171.1   $ 12.8   4.44 % $ 948.9   $ 11.3   4.75 % $ 858.6   $ 11.6   5.45 %
    Available-for-Sale Investment Securities                                                  
    Taxable     1,891.4     13.2   2.79     1,987.7     12.7   2.56     2,210.6     14.5   2.63  
    Non-Taxable     1.4     —   5.52     1.4     —   5.30     1.8     —   5.61  
    Held-to-Maturity Investment Securities                                                  
    Taxable     3,164.0     13.6   1.72     3,224.8     13.9   1.72     3,416.4     14.6   1.71  
    Non-Taxable     599.0     3.7   2.51     601.7     3.9   2.56     603.4     4.0   2.65  
    Total Investment Securities     5,655.8     30.5   2.16     5,815.6     30.5   2.10     6,232.2     33.1   2.13  
    Loans Held for Sale     0.3     —   6.28     1.3     —   5.75     0.7     —   6.92  
    Loans and Leases(1)                                                  
    Commercial and industrial     2,196.8     33.6   6.20     2,157.8     35.2   6.50     2,164.9     37.2   6.92  
    Commercial real estate     4,420.1     66.5   6.10     4,333.1     68.9   6.33     4,323.5     70.1   6.53  
    Construction     937.0     15.4   6.67     990.7     17.4   6.99     924.7     17.4   7.55  
    Residential:                                                  
    Residential mortgage     4,150.3     40.9   3.94     4,183.5     40.8   3.90     4,264.1     42.0   3.94  
    Home equity line     1,149.8     13.1   4.61     1,157.1     13.3   4.55     1,172.1     12.0   4.13  
    Consumer     1,019.5     18.9   7.53     1,033.2     19.0   7.29     1,083.5     18.1   6.71  
    Lease financing     436.5     4.3   3.99     420.7     4.4   4.18     379.8     3.7   3.91  
    Total Loans and Leases     14,310.0     192.7   5.44     14,276.1     199.0   5.55     14,312.6     200.5   5.63  
    Other Earning Assets     32.0     0.4   5.48     38.1     0.7   6.73     77.8     1.2   5.90  
    Total Earning Assets(2)     21,169.2     236.4   4.51     21,080.0     241.5   4.56     21,481.9     246.4   4.61  
    Cash and Due from Banks     235.9               226.2               244.3            
    Other Assets     2,485.4               2,489.5               2,461.0            
    Total Assets   $ 23,890.5             $ 23,795.7             $ 24,187.2            
                                                       
    Interest-Bearing Liabilities                                                  
    Interest-Bearing Deposits                                                  
    Savings   $ 6,232.5   $ 21.3   1.38 % $ 5,940.3   $ 21.1   1.42 % $ 6,059.7   $ 23.4   1.56 %
    Money Market     3,922.2     23.0   2.38     4,053.6     26.6   2.61     3,944.9     28.8   2.94  
    Time     3,317.1     27.4   3.36     3,362.0     30.8   3.64     3,325.3     31.9   3.86  
    Total Interest-Bearing Deposits     13,471.8     71.7   2.16     13,355.9     78.5   2.34     13,329.9     84.1   2.54  
    Other Short-Term Borrowings     250.0     2.6   4.22     250.0     2.7   4.27     500.0     6.0   4.79  
    Other Interest-Bearing Liabilities     27.5     0.3   4.67     25.3     0.2   4.07     33.0     0.4   5.22  
    Total Interest-Bearing Liabilities     13,749.3     74.6   2.20     13,631.2     81.4   2.38     13,862.9     90.5   2.63  
    Net Interest Income         $ 161.8             $ 160.1             $ 155.9      
    Interest Rate Spread(3)               2.31 %             2.18 %             1.98 %
    Net Interest Margin(4)               3.08 %             3.03 %             2.91 %
    Noninterest-Bearing Demand Deposits     6,882.2               6,893.7               7,242.0            
    Other Liabilities     617.0               641.2               585.5            
    Stockholders’ Equity     2,642.0               2,629.6               2,496.8            
    Total Liabilities and Stockholders’ Equity   $ 23,890.5             $ 23,795.7             $ 24,187.2            

    (1) Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

    (2) Interest income includes taxable-equivalent basis adjustments of $1.2 million, $1.4 million and $1.5 million for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

    (3) Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

    (4) Net interest margin is net interest income annualized for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, on a fully taxable-equivalent basis, divided by average total earning assets.

                       
    Analysis of Change in Net Interest Income                 Table 5
        Three Months Ended March 31, 2025
        Compared to December 31, 2024
    (dollars in millions)   Volume   Rate   Total (1)
    Change in Interest Income:                  
    Interest-Bearing Deposits in Other Banks   $ 2.3     $ (0.8 )   $ 1.5  
    Available-for-Sale Investment Securities                  
    Taxable     (0.6 )     1.1       0.5  
    Held-to-Maturity Investment Securities                  
    Taxable     (0.3 )     —       (0.3 )
    Non-Taxable     —       (0.2 )     (0.2 )
    Total Investment Securities     (0.9 )     0.9       —  
    Loans and Leases                  
    Commercial and industrial     0.5       (2.1 )     (1.6 )
    Commercial real estate     0.9       (3.3 )     (2.4 )
    Construction     (1.1 )     (0.9 )     (2.0 )
    Residential:                  
    Residential mortgage     (0.3 )     0.4       0.1  
    Home equity line     (0.2 )     —       (0.2 )
    Consumer     (0.4 )     0.3       (0.1 )
    Lease financing     0.1       (0.2 )     (0.1 )
    Total Loans and Leases     (0.5 )     (5.8 )     (6.3 )
    Other Earning Assets     (0.1 )     (0.2 )     (0.3 )
    Total Change in Interest Income     0.8       (5.9 )     (5.1 )
                       
    Change in Interest Expense:                  
    Interest-Bearing Deposits                  
    Savings     0.9       (0.7 )     0.2  
    Money Market     (1.0 )     (2.6 )     (3.6 )
    Time     (0.5 )     (2.9 )     (3.4 )
    Total Interest-Bearing Deposits     (0.6 )     (6.2 )     (6.8 )
    Other Short-Term Borrowings     —       (0.1 )     (0.1 )
    Other Interest-Bearing Liabilities     —       0.1       0.1  
    Total Change in Interest Expense     (0.6 )     (6.2 )     (6.8 )
    Change in Net Interest Income   $ 1.4     $ 0.3     $ 1.7  

    (1) The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

                       
    Analysis of Change in Net Interest Income                 Table 6
        Three Months Ended March 31, 2025
        Compared to March 31, 2024
    (dollars in millions)   Volume   Rate   Total (1)
    Change in Interest Income:                  
    Interest-Bearing Deposits in Other Banks   $ 3.7     $ (2.5 )   $ 1.2  
    Available-for-Sale Investment Securities                  
    Taxable     (2.2 )     0.9       (1.3 )
    Held-to-Maturity Investment Securities                  
    Taxable     (1.1 )     0.1       (1.0 )
    Non-Taxable     —       (0.3 )     (0.3 )
    Total Investment Securities     (3.3 )     0.7       (2.6 )
    Loans and Leases                  
    Commercial and industrial     0.5       (4.1 )     (3.6 )
    Commercial real estate     1.5       (5.1 )     (3.6 )
    Construction     0.2       (2.2 )     (2.0 )
    Residential:                  
    Residential mortgage     (1.1 )     —       (1.1 )
    Home equity line     (0.2 )     1.3       1.1  
    Consumer     (1.2 )     2.0       0.8  
    Lease financing     0.5       0.1       0.6  
    Total Loans and Leases     0.2       (8.0 )     (7.8 )
    Other Earning Assets     (0.7 )     (0.1 )     (0.8 )
    Total Change in Interest Income     (0.1 )     (9.9 )     (10.0 )
                       
    Change in Interest Expense:                  
    Interest-Bearing Deposits                  
    Savings     0.7       (2.8 )     (2.1 )
    Money Market     (0.2 )     (5.6 )     (5.8 )
    Time     (0.1 )     (4.4 )     (4.5 )
    Total Interest-Bearing Deposits     0.4       (12.8 )     (12.4 )
    Other Short-Term Borrowings     (2.7 )     (0.7 )     (3.4 )
    Other Interest-Bearing Liabilities     (0.1 )     —       (0.1 )
    Total Change in Interest Expense     (2.4 )     (13.5 )     (15.9 )
    Change in Net Interest Income   $ 2.3     $ 3.6     $ 5.9  

    (1) The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

                       
    Loans and Leases                 Table 7
        March 31,    December 31,    March 31, 
    (dollars in thousands)   2025   2024   2024
    Commercial and industrial   $ 2,261,394   $ 2,247,428   $ 2,189,875
    Commercial real estate     4,367,433     4,463,992     4,301,300
    Construction     954,072     918,326     972,517
    Residential:                  
    Residential mortgage     4,129,518     4,168,154     4,242,502
    Home equity line     1,144,895     1,151,739     1,165,778
    Total residential     5,274,413     5,319,893     5,408,280
    Consumer     998,325     1,023,969     1,054,227
    Lease financing     437,399     434,650     394,009
    Total loans and leases   $ 14,293,036   $ 14,408,258   $ 14,320,208
                       
    Deposits                 Table 8
        March 31,    December 31,    March 31, 
    (dollars in thousands)   2025   2024   2024
    Demand   $ 6,885,551   $ 6,975,148   $ 7,048,553
    Savings     6,110,796     6,021,364     6,277,679
    Money Market     3,865,203     4,027,334     4,059,204
    Time     3,354,266     3,298,370     3,284,045
    Total Deposits   $ 20,215,816   $ 20,322,216   $ 20,669,481
                       
    Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More                 Table 9
        March 31,    December 31,    March 31, 
    (dollars in thousands)   2025   2024   2024
    Non-Performing Assets                  
    Non-Accrual Loans and Leases                  
    Commercial Loans:                  
    Commercial and industrial   $ —   $ 329   $ 942
    Commercial real estate     216     411     2,953
    Construction     375     —     —
    Total Commercial Loans     591     740     3,895
    Residential Loans:                  
    Residential mortgage     12,809     12,768     7,777
    Home equity line     6,788     7,171     6,345
    Total Residential Loans     19,597     19,939     14,122
    Total Non-Accrual Loans and Leases     20,188     20,679     18,017
    Total Non-Performing Assets   $ 20,188   $ 20,679   $ 18,017
                       
    Accruing Loans and Leases Past Due 90 Days or More                  
    Commercial Loans:                  
    Commercial and industrial   $ 740   $ 1,432   $ 529
    Construction     —     536     606
    Total Commercial Loans     740     1,968     1,135
    Residential mortgage     1,008     1,317     359
    Consumer     2,554     2,734     2,126
    Total Accruing Loans and Leases Past Due 90 Days or More   $ 4,302   $ 6,019   $ 3,620
                       
    Total Loans and Leases   $ 14,293,036   $ 14,408,258   $ 14,320,208
                         
    Allowance for Credit Losses and Reserve for Unfunded Commitments   Table 10
        For the Three Months Ended  
        March 31,    December 31,    March 31,   
    (dollars in thousands)   2025     2024     2024    
    Balance at Beginning of Period   $ 193,240     $ 197,397     $ 192,138    
    Loans and Leases Charged-Off                    
    Commercial and industrial     (1,459 )     (851 )     (909 )  
    Home equity line     (14 )     —       —    
    Consumer     (5,025 )     (4,774 )     (4,854 )  
    Total Loans and Leases Charged-Off     (6,498 )     (5,625 )     (5,763 )  
    Recoveries on Loans and Leases Previously Charged-Off                    
    Commercial Loans:                    
    Commercial and industrial     403       298       211    
    Commercial real estate     251       —       —    
    Total Commercial Loans     654       298       211    
    Residential Loans:                    
    Residential mortgage     20       30       30    
    Home equity line     64       32       44    
    Total Residential Loans     84       62       74    
    Consumer     1,979       1,858       1,689    
    Total Recoveries on Loans and Leases Previously Charged-Off     2,717       2,218       1,974    
    Net Loans and Leases Charged-Off     (3,781 )     (3,407 )     (3,789 )  
    Provision (Benefit) for Credit Losses     10,500       (750 )     6,300    
    Balance at End of Period   $ 199,959     $ 193,240     $ 194,649    
    Components:                    
    Allowance for Credit Losses   $ 166,612     $ 160,393     $ 159,836    
    Reserve for Unfunded Commitments     33,347       32,847       34,813    
    Total Allowance for Credit Losses and Reserve for Unfunded Commitments   $ 199,959     $ 193,240     $ 194,649    
    Average Loans and Leases Outstanding   $ 14,309,998     $ 14,276,107     $ 14,312,563    
    Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding(1)     0.11   %   0.09   %   0.11   %
    Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding     1.17   %   1.11   %   1.12   %
    Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases     8.25x     7.76x     8.87x  

    (1) Annualized for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024.

                                                           
    Loans and Leases by Year of Origination and Credit Quality Indicator     Table 11
                                                  Revolving      
                                                  Loans      
                                                  Converted      
        Term Loans   Revolving   to Term      
        Amortized Cost Basis by Origination Year   Loans   Loans      
                                            Amortized   Amortized      
    (dollars in thousands)   2025   2024   2023   2022   2021   Prior   Cost Basis   Cost Basis   Total
    Commercial Lending                                                      
    Commercial and Industrial                                                      
    Risk rating:                                                      
    Pass   $ 19,578   $ 173,435   $ 68,842   $ 172,494   $ 220,547   $ 268,053   $ 1,148,880   $ 20,009   $ 2,091,838
    Special Mention     364     916     2,250     3,353     58     1,229     41,972     —     50,142
    Substandard     —     —     —     7,948     26     1,238     24,836     —     34,048
    Other (1)     8,099     12,828     7,983     6,045     2,255     2,105     46,051     —     85,366
    Total Commercial and Industrial     28,041     187,179     79,075     189,840     222,886     272,625     1,261,739     20,009     2,261,394
    Current period gross charge-offs     —     43     95     179     356     779     7     —     1,459
                                                           
    Commercial Real Estate                                                      
    Risk rating:                                                      
    Pass     105,358     291,863     384,491     796,202     632,631     1,889,571     100,071     7,645     4,207,832
    Special Mention     —     8,979     2,235     7,483     41,397     22,702     11,747     —     94,543
    Substandard     —     —     —     54,918     1,007     9,003     —     —     64,928
    Other (1)     —     —     —     —     —     130     —     —     130
    Total Commercial Real Estate     105,358     300,842     386,726     858,603     675,035     1,921,406     111,818     7,645     4,367,433
    Current period gross charge-offs     —     —     —     —     —     —     —     —     —
                                                           
    Construction                                                      
    Risk rating:                                                      
    Pass     4,610     122,410     198,780     353,108     162,361     52,233     22,934     —     916,436
    Special Mention     —     —     —     —     —     147     —     —     147
    Other (1)     522     14,134     8,910     8,500     1,553     3,177     693     —     37,489
    Total Construction     5,132     136,544     207,690     361,608     163,914     55,557     23,627     —     954,072
    Current period gross charge-offs     —     —     —     —     —     —     —     —     —
                                                           
    Lease Financing                                                      
    Risk rating:                                                      
    Pass     69,731     94,965     99,259     56,228     13,304     98,262     —     —     431,749
    Special Mention     —     —     226     —     195     —     —     —     421
    Substandard     —     4,411     526     292     —     —     —     —     5,229
    Total Lease Financing     69,731     99,376     100,011     56,520     13,499     98,262     —     —     437,399
    Current period gross charge-offs     —     —     —     —     —     —     —     —     —
                                                           
    Total Commercial Lending   $ 208,262   $ 723,941   $ 773,502   $ 1,466,571   $ 1,075,334   $ 2,347,850   $ 1,397,184   $ 27,654   $ 8,020,298
    Current period gross charge-offs   $ —   $ 43   $ 95   $ 179   $ 356   $ 779   $ 7   $ —   $ 1,459

    (continued)

                                                           
                                                  Revolving      
                                                  Loans      
                                                  Converted      
        Term Loans   Revolving   to Term      
        Amortized Cost Basis by Origination Year   Loans   Loans      
    (continued)                                       Amortized   Amortized      
    (dollars in thousands)   2025   2024   2023   2022   2021   Prior   Cost Basis   Cost Basis   Total
    Residential Lending                                                      
    Residential Mortgage                                                      
    FICO:                                                      
    740 and greater   $ 41,949   $ 161,436   $ 183,292   $ 482,310   $ 933,384   $ 1,578,605   $ —   $ —   $ 3,380,976
    680 – 739     4,088     18,218     34,761     65,347     101,230     192,602     —     —     416,246
    620 – 679     734     1,714     3,922     23,196     18,793     51,826     —     —     100,185
    550 – 619     —     —     817     6,495     7,696     17,224     —     —     32,232
    Less than 550     —     —     731     771     2,253     7,503     —     —     11,258
    No Score (3)     —     13,199     6,330     16,757     9,837     50,065     —     —     96,188
    Other (2)     759     8,020     11,914     16,416     14,182     37,781     3,361     —     92,433
    Total Residential Mortgage     47,530     202,587     241,767     611,292     1,087,375     1,935,606     3,361     —     4,129,518
    Current period gross charge-offs     —     —     —     —     —     —     —     —     —
                                                           
    Home Equity Line                                                      
    FICO:                                                      
    740 and greater     —     —     —     —     —     —     911,857     1,404     913,261
    680 – 739     —     —     —     —     —     —     169,131     1,684     170,815
    620 – 679     —     —     —     —     —     —     39,262     592     39,854
    550 – 619     —     —     —     —     —     —     12,077     485     12,562
    Less than 550     —     —     —     —     —     —     6,645     486     7,131
    No Score (3)     —     —     —     —     —     —     1,272     —     1,272
    Total Home Equity Line     —     —     —     —     —     —     1,140,244     4,651     1,144,895
    Current period gross charge-offs     —     —     —     —     —     —     14     —     14
                                                           
    Total Residential Lending   $ 47,530   $ 202,587   $ 241,767   $ 611,292   $ 1,087,375   $ 1,935,606   $ 1,143,605   $ 4,651   $ 5,274,413
    Current period gross charge-offs   $ —   $ —   $ —   $ —   $ —   $ —   $ 14   $ —   $ 14
                                                           
    Consumer Lending                                                      
    FICO:                                                      
    740 and greater     32,634     80,861     58,623     73,919     37,183     15,253     93,415     112     392,000
    680 – 739     19,668     66,839     41,621     38,860     18,814     9,295     84,783     515     280,395
    620 – 679     6,692     31,051     16,155     17,379     8,533     6,406     50,655     793     137,664
    550 – 619     596     9,333     6,584     9,663     5,434     4,471     16,458     849     53,388
    Less than 550     280     3,004     4,421     5,131     3,263     2,741     5,399     508     24,747
    No Score (3)     750     821     95     30     —     18     35,238     194     37,146
    Other (2)     201     —     —     257     600     1,044     70,883     —     72,985
    Total Consumer Lending   $ 60,821   $ 191,909   $ 127,499   $ 145,239   $ 73,827   $ 39,228   $ 356,831   $ 2,971   $ 998,325
    Current period gross charge-offs   $ —   $ 660   $ 481   $ 585   $ 270   $ 809   $ 1,883   $ 337   $ 5,025
                                                           
    Total Loans and Leases   $ 316,613   $ 1,118,437   $ 1,142,768   $ 2,223,102   $ 2,236,536   $ 4,322,684   $ 2,897,620   $ 35,276   $ 14,293,036
    Current period gross charge-offs   $ —   $ 703   $ 576   $ 764   $ 626   $ 1,588   $ 1,904   $ 337   $ 6,498

    (1) Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score (680 and above). As of March 31, 2025, the majority of the loans in this population were current.

    (2) Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. As of March 31, 2025, the majority of the loans in this population were current.

    (3) No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance.

                         
    GAAP to Non-GAAP Reconciliation   Table 12
        For the Three Months Ended  
        March 31,    December 31,    March 31,   
    (dollars in thousands)   2025   2024   2024  
    Income Statement Data:                    
    Net income   $ 59,248   $ 52,496   $ 54,220  
                         
    Average total stockholders’ equity   $ 2,641,978   $ 2,629,600   $ 2,496,840  
    Less: average goodwill     995,492     995,492     995,492  
    Average tangible stockholders’ equity   $ 1,646,486   $ 1,634,108   $ 1,501,348  
                         
    Average total assets   $ 23,890,459   $ 23,795,735   $ 24,187,207  
    Less: average goodwill     995,492     995,492     995,492  
    Average tangible assets   $ 22,894,967   $ 22,800,243   $ 23,191,715  
                         
    Return on average total stockholders’ equity(1)     9.09 %   7.94 %   8.73 %
    Return on average tangible stockholders’ equity (non-GAAP)(1)     14.59 %   12.78 %   14.53 %
                         
    Return on average total assets(1)     1.01 %   0.88 %   0.90 %
    Return on average tangible assets (non-GAAP)(1)     1.05 %   0.92 %   0.94 %
                         
                       
        As of   As of   As of  
        March 31,    December 31,    March 31,   
    (dollars in thousands, except per share amounts)   2025   2024   2024  
    Balance Sheet Data:                    
    Total stockholders’ equity   $ 2,648,852   $ 2,617,486   $ 2,513,761  
    Less: goodwill     995,492     995,492     995,492  
    Tangible stockholders’ equity   $ 1,653,360   $ 1,621,994   $ 1,518,269  
                         
    Total assets   $ 23,744,958   $ 23,828,186   $ 24,279,186  
    Less: goodwill     995,492     995,492     995,492  
    Tangible assets   $ 22,749,466   $ 22,832,694   $ 23,283,694  
                         
    Shares outstanding     125,692,598     126,422,898     127,841,908  
                         
    Total stockholders’ equity to total assets     11.16 %   10.98 %   10.35 %
    Tangible stockholders’ equity to tangible assets (non-GAAP)     7.27 %   7.10 %   6.52 %
                         
    Book value per share   $ 21.07   $ 20.70   $ 19.66  
    Tangible book value per share (non-GAAP)   $ 13.15   $ 12.83   $ 11.88  

    (1) Annualized for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024.

    The MIL Network –

  • MIL-OSI: ManTech Names Eric Mellinger Vice President of Business Development for Defense Sector

    Source: GlobeNewswire (MIL-OSI)

    HERNDON, Va., April 23, 2025 (GLOBE NEWSWIRE) — ManTech, a leading provider of AI and mission-focused technology solutions, has promoted Eric “Mell” Mellinger to be Vice President of Business Development for the company’s Defense Sector.

    “With 30 years’ experience in senior-level military roles, Mell holds deep understanding of U.S. armed forces’ mission technology needs in virtually every battle scenario,” said David Hathaway, President of ManTech’s Defense Sector. “His strong alignment with every DoD agency is a win not only for ManTech, but for national security itself.”

    Since joining ManTech in 2019, Mellinger has been an instrumental force driving multiple DoD contract wins, including nearly $1 billion with the Marine Corps Warfighting Lab (MCWL) and Deputy Commandant for Information (DCI) in 2024.

    Prior to joining ManTech, Mellinger served as Senior Professional Staff Member for the House Armed Services Committee (HASC) focused on Defense Reform, helping develop the agenda for modernizing U.S. warfighting capabilities. During his military service, he commanded global crisis response missions in the Middle East, Africa and Indo-Pacific region.

    Mellinger graduated from the U.S. Air Force Academy and cross-commissioned into the U.S. Marine Corps. He holds M.S. degrees from National Defense University and Marine Corps University.

    About ManTech
    ManTech provides mission-focused technology solutions and services for U.S. Defense, Intelligence and Federal Civilian agencies. In business for more than 57 years, we are a leading provider of AI solutions that power full-spectrum cyber, data collection & analytics, enterprise IT, high-end engineering and software application development solutions that support national and homeland security. Additional information on ManTech can be found at www.mantech.com.

    Media Contact: 
    Jim Crawford 
    ManTech 
    Executive Director, External Communications 
    (M) 703-498-7315 
    James.Crawford2@ManTech.com

    The MIL Network –

  • MIL-OSI: Dayforce Now Available in the Microsoft Azure Marketplace

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS and TORONTO, April 23, 2025 (GLOBE NEWSWIRE) — Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global leader in human capital management (HCM) technology that makes work life better, today announced the availability of its Dayforce™ platform in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure.

    By increasing accessibility to Dayforce’s AI-powered global people platform, Microsoft Azure customers can now smoothly integrate enterprise resource planning (ERP) and HCM on a single Azure-powered platform, helping to achieve operational excellence. Dayforce customers can also benefit from streamlined deployment and management with the productive and trusted Azure cloud platform.

    Dayforce’s global platform unifies HR, payroll, workforce management, talent, and analytics into one intuitive experience. Powered by AI-enhanced innovation, Dayforce delivers quantifiable value to organizations across North America, Europe, the Middle East and Africa (EMEA), and Asia-Pacific and Japan (APJ). By joining the Azure Marketplace, Dayforce helps provide improved interoperability and innovation on the secure Azure technology stack.

    “With Dayforce now available on the Microsoft Azure Marketplace, organizations can simplify procurement, accelerate deployment timelines, and harness the combined strengths of Microsoft Azure’s trusted cloud platform and the Dayforce end-to-end HCM platform,” said Beata Reimer, Group Vice President, Global Partner Ecosystem, Dayforce, Inc. “Businesses are facing mounting pressure to maximize the value of every dollar spent and streamline operations. Our collaboration with Microsoft will help enable them to unlock simplicity at scale and build the workforce of the future.”

    “Microsoft Azure Marketplace welcomes Dayforce, which joins a cloud marketplace landscape offering flexibility and economic value while transacting tens of billions of dollars a year in revenues,” said Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp. “Thanks to Azure Marketplace and partners like Dayforce, customers can do more with less by increasing efficiency, buying confidently, and spending smarter.”

    The Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. The Azure Marketplace helps connect companies seeking innovative, cloud-based solutions with partners who have developed solutions that are ready to use.

    For more information, visit Dayforce on the Microsoft Azure Marketplace. This solution is also available on Microsoft AppSource.

    About Dayforce

    Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, Pay, Time, Talent, and Analytics equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.   

    Media Contact
    Nick de Pass
    nick.depass@dayforce.com
    (226) 972-5962

    The MIL Network –

  • MIL-OSI: Cerence AI and MediaTek Partner to Introduce Multi-Modal Language Models Running on the Edge, Built on NVIDIA

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI and BURLINGTON, Mass., April 23, 2025 (GLOBE NEWSWIRE) — Just ahead of Auto Shanghai 2025, Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced a new partnership with MediaTek and expanded collaboration with NVIDIA to deliver the next generation of CaLLM™ Edge, its embedded small language model (SLM) purpose-built for automotive user experiences. With new multi-modal capabilities powered by NVIDIA AI Enterprise software, CaLLM Edge will now make in-car interactions smarter, more perceptive, more human, far safer and more secure than ever. This multi-modal edge SLM is seamlessly integrated into Cerence xUI™, the company’s hybrid cloud/embedded agentic AI platform, and will be showcased for the first time at Auto Shanghai 2025.

    Today’s announcement stems from an ongoing collaboration between MediaTek and NVIDIA, with MediaTek’s automotive-grade Dimensity Auto Cockpit chipsets integrating NVIDIA’s GPU, AI, and graphics technologies. Now, the companies have teamed with Cerence AI on a multi-modal edge solution that delivers top performance and cost efficiency for automakers and unlocks powerful new features for drivers and passengers. Leveraging MediaTek’s automotive cockpit solution and optimized first on NVIDIA DRIVE AGX, CaLLM Edge’s advanced multi-modal capabilities are fine-tuned for in-vehicle deployment and high efficiency via a dual processing platform, delivering a new level of contextual awareness – both inside and outside the vehicle.

    Auto Shanghai marks the first public demonstration of Cerence xUI running on NVIDIA DRIVE AGX, integrated into a production-ready automotive reference design that replicates a real car’s multi-seat environment, enabling seamless, personalized interaction for drivers and passengers alike. Key innovations include:

    • Increased intelligence inside the car – Imagine your car knows when you’re talking to it – and when you’re not. You could ask for recommendations for Italian restaurants, then ask your passenger: “What about the second one?” – and the assistant knows to wait to jump back into the conversation. Plus, the assistant can take direction from driver and passengers at the same time – for example, “Open my window,” followed by “Same for me.” Or, imagine your car can keep an eye on your pet while you run a short errand, or, while you’re driving, answer questions about how your toddler is doing in the back seat.
    • Additional context from outside the car – Imagine an assistant that provides information about not only what is inside the vehicle, but also in the world outside. For example, it can explain or translate road signs, identify roadside buildings, and even offer details about something interesting spotted on a billboard. Cerence xUI can leverage car sensor data and both interior and exterior camera feeds in combination with the CaLLM Edge multi-modal SLM, enabling streaming input on the edge – all of which will be shown for the first time at Auto Shanghai.
    • Smart guardrailing on the edge – Cerence AI has developed automotive guardrails optimized for NVIDIA DRIVE AGX, helping ensure Cerence-powered systems can safely and reliably handle the nuances of brand-specific in-car interaction, even in conditions with limited connectivity. As part of its comprehensive hybrid architecture, Cerence AI will be delivering this embedded guardrail with NVIDIA NeMo Guardrails, both to complement its cloud variant as well as help minimize distractions, prevent misuse, and ensure voice interactions stay context-aware and compliant with safety norms.

    Beyond these new capabilities for drivers, CaLLM Edge also offers key benefits for automakers. The heavy lifting of the multi-modal processing happens at the edge, meaning less cloud bandwidth required and reduced costs for OEMs. In addition, enabling drivers to access information outside the car and delivering advanced, generative AI-powered features unlocks new subscription-based services and revenue streams for OEMs.

    “As we continue to push the limits of our CaLLM family of cloud and embedded language models, we continue to improve our ability to meet the needs of a wide variety of automakers and their specific infotainment platforms,” said Nils Schanz, EVP, Product & Technology, Cerence AI. “By teaming with MediaTek and NVIDIA, we’ve supercharged CaLLM Edge with real-time perception and contextual awareness that redefines the in-vehicle experience.”

    “The combination of Cerence’s CaLLM Edge with MediaTek Dimensity Auto platforms creates an incredible foundation for powerful multi-modal, generative AI-driven experiences in vehicles,” said Mike Chang, Corporate Vice President and General Manager of Automotive Business of MediaTek. “MediaTek Dimensity Auto supports both Cerence’s LLM and SLM on the edge, and our new C-X1 featuring dual AI engines is ideal for the task of reliably running multiple AI tasks simultaneously. This partnership is a key addition to our automotive ecosystem and will enable global automotive brands to accelerate their next-generation designs in confidence.”

    “Cerence’s collaboration with MediaTek builds on the company’s work to deploy NVIDIA AI and accelerated compute to improve the overall in-vehicle experience,” said Rishi Dhall, Vice President of Automotive at NVIDIA. “The work now gives automakers greater control to customize voice experiences, and our work to integrate NVIDIA NeMo Guardrails at the edge has the power to set a new industry benchmark in the evolution of safe, scalable in-car AI.”

    Cerence AI will demonstrate its offering with MediaTek and NVIDIA at Auto Shanghai, taking place April 23-May 2. Interested attendees can experience Cerence xUI in action in Hall 8.2, booth number 8BD002. The solution will also be shown at MediaTek’s booth, also in Hall 8.2, at booth number 8BE006.

    To learn more about Cerence AI, visit www.cerence.ai, and follow the company on LinkedIn.

    About Cerence Inc.
    Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit www.cerence.ai.

    Contact Information

    Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com

    The MIL Network –

  • MIL-OSI: Feedonomics Simplifies First-Party Selling for Large Brands, Manufacturers and Distributors with New Amazon Vendor Central Integration

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 23, 2025 (GLOBE NEWSWIRE) — Feedonomics, part of the BigCommerce family of brands and a market leader in product feed management for ecommerce businesses, today announced its new integration with Amazon Vendor Central, expanding its comprehensive solutions for B2B clients and enterprise brands.

    Commonly used by large brands, manufacturers and distributors that want to optimize sales through a direct relationship with Amazon, Vendor Central is the ecommerce giant’s platform for first-party (1P) sellers to supply their products directly to Amazon, which then sells them to customers as a retailer.

    Feedonomics customers can now tap into Amazon’s powerful fulfillment network, offering shoppers fast and reliable delivery through Prime eligibility. Products gain increased visibility with enhanced placements and the trusted “Ships from and Sold by Amazon” badge, which helps build customer confidence and drive higher conversion rates. This opens the door to greater brand recognition, stronger loyalty and sustainable growth for first-party sellers.

    “Feedonomics’ direct integration with Amazon Vendor Central creates efficiency gains for sellers who can now eliminate manual processes and reduce time spent managing catalog data,” said Sharon Gee, senior vice president and general manager at Feedonomics. “Large brands, manufacturers and distributors are empowered to manage data syndication across their Amazon catalog at scale, ensuring faster updates and more accurate listings. This is a game changer for large brands, manufacturers and distributors looking to take advantage of all the benefits that selling on Amazon brings.”

    The new integration connects directly to Amazon APIs, automating product data management. This eliminates the time-consuming and error-prone process of using Vendor Central UI and spreadsheets, simplifies the Amazon integration for existing Feedonomics clients, enables faster product launches and updates and streamlines operations for 1P-focused brands.

    Sellers best positioned to benefit from the Feedonomics integration with Amazon 1P include:

    • Enterprise brands: Brands, manufacturers and distributors already selling to Amazon 1P via Vendor Central, who want to streamline their product data management processes.
    • Advertisers: Existing Feedonomics clients who sell on Amazon Vendor Central will benefit from a streamlined onboarding
    • Data-heavy businesses: Companies with extensive product catalogs that require efficient, automated and scalable tools for syndication.

    To use the new integration, companies must be an Amazon vendor with a Vendor Central account and supply Feedonomics with the full product catalog data required for listings.

    Learn more about the Amazon Vendor Central integration and request a complimentary marketplace data review by visiting Feedonomics.

    About Feedonomics
    Feedonomics is a leading data management platform powering omnichannel growth for the world’s top brands and retailers. With its flexible technology and full-service support team, Feedonomics facilitates a variety of data and order management use cases across industries such as ecommerce, automotive, employment, travel, real estate, and more. Feedonomics has thousands of active customers, integrations with hundreds of ecommerce platforms and channels, and has strategic partnerships with industry leaders like Amazon, Meta, Google, Microsoft and TikTok. For more information, please visit www.feedonomics.com or follow us on X, LinkedIn, Instagram and Facebook.

    About BigCommerce
    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    The MIL Network –

  • MIL-OSI: CapEx Finance Index (CFI) March 2025: New Business Volumes Grew; Financial Conditions Weakened

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, April 23, 2025 (GLOBE NEWSWIRE) —

    • FORECAST: Growth in new business volumes suggests a 1.5% rise in new durable goods orders in March.
    • Total new business volume (NBV) rose by $10.4 billion seasonally adjusted among surveyed ELFA member companies, an increase of 7.0% from the prior month.
    • NBV year-to-date contracted by 0.8% relative to the same period in 2024.
    • Year-over-year, NBV grew by 9.8% on a non-seasonally adjusted basis.
    • Charge-offs (losses) rose to 0.60%, the highest level since September 2020.

    “The CFI sent conflicting messages in March. New equipment demand rose for the second consecutive month and was in line with its recent two-year trend,” said Leigh Lytle, President and CEO at ELFA. “However, financial conditions weakened, with aging receivables increasing and the average loss rate rising to its highest level in nearly five years. Economic uncertainty remains exceptionally elevated, and the rise in charge-offs may be an early indication that end-users are experiencing financial stress. The strength in equipment demand should not be understated – the sector is on solid ground – but I’ll be watching the financial data closely for signs of further deterioration as we enter what is expected to be a volatile spring and summer.”

    New business volumes rose for the second consecutive month. Volumes continued to make up ground after a disappointing start to the year. New business activity grew by 7.0%, the third-highest growth rate in the last two years. The small ticket index shot up by 21.7%, surpassing the hot February rate of 15.9%. Financing activity picked up across institution types, with banks and captives posting double-digit monthly growth rates, while activity at independents expanded by just over 2%. Volume growth at banks surged over the last 12 months, reaching a yearly growth rate of 32.3%. Activity at captives and independents shrank over the same period.

    The pace of job losses quickened. Employment levels in the equipment financing industry dropped 2.7% over the 12 months ending in March. Job losses were broad-based, with all three institution types reporting a yearly contraction in employment.

    Credit approvals rose to the highest level since August 2024. The overall credit approval rate rose to 76.0%, an increase of almost 0.7 percentage points. The rate remains above the recent two-year average of 75.5%.

    Financial conditions weakened further. Aging receivables over 30 days rose to 2.3%, an increase of a quarter of a percentage point. Aging receivables increased at banks and independents but declined at captives. Charge-offs rose for the second consecutive month to 0.60%, the highest loss rate since September 2020. The trailing six-month average rose to 0.50% and has been trending up over the last five months. It is now more elevated than at any point from 2015 through 2019.

    “Industry new business volume of $10.4 billion was very strong in March, which may represent a pull-forward of equipment orders ahead of tariffs going into effect,” said Alan Sikora, CEO of First American Equipment Finance, an RBC / City National Company. “As some clients are cautious due to economic uncertainty, the equipment leasing and finance industry will continue to play a key role in helping organizations navigate their changing environment.”

    Industry Confidence
    The Monthly Confidence Index from ELFA’s affiliate, the Equipment Leasing & Finance Foundation, dropped to 41.9 in April from 58.1 the previous month, as tariffs spur uncertainty about conditions over the next four months.

    About ELFA’s CFI
    The CapEx Finance Index (CFI) is the only real-time dataset that tracks nationwide conditions in the equipment financing industry. The information is compiled from a diversified set of businesses that respond to questions about demand for equipment financing, employment, and changes in financial conditions. The resulting data is organized by institution type, such as banks, captives, and independents, and is classified into overall activity and financing for small ticket equipment and software. The CFI is released monthly from Washington, D.C., one day before the U.S. Department of Commerce’s durable goods report. More detail on the data and methodology can be found at www.elfaonline.org/CFI.

    About ELFA
    The Equipment Leasing and Finance Association (ELFA) represents financial services companies and manufacturers in the $1 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.

    Follow ELFA:
    X: @ELFAonline
    LinkedIn: https://www.linkedin.com/company/115191

    Media/Press Contact: Krishna Magalona, PR Manager, ELFA, Krishna@360livemedia.com

    PDF available: http://ml.globenewswire.com/Resource/Download/a10e2fab-ae41-4b3b-aad0-8b8efb970e4d

    The MIL Network –

  • MIL-OSI: Hanover Bancorp, Inc. Reports First Quarter 2025 Results Highlighted by Accelerated Margin Expansion, Improved Credit Quality Metrics & Successful Core Banking System Conversion

    Source: GlobeNewswire (MIL-OSI)

    First Quarter Performance Highlights

    • Net Income: Net income for the quarter ended March 31, 2025 totaled $1.5 million or $0.20 per diluted share (including Series A preferred shares). Adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) increased to $4.1 million or $0.55 per diluted share for the quarter ended March 31, 2025.
    • Net Interest Income: Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $0.8 million or 5.95% from the quarter ended December 31, 2024 and $1.7 million, or 13.10% from the quarter ended March 31, 2024.
    • Net Interest Margin Expansion: The Company’s net interest margin during the quarter ended March 31, 2025 increased to 2.68% from 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024.
    • Strong Liquidity Position: At March 31, 2025, undrawn liquidity sources, which include cash and unencumbered securities and secured and unsecured funding capacity, totaled $679.0 million, or approximately 322% of uninsured deposit balances. Insured and collateralized deposits, which include municipal deposits, accounted for approximately 89% of total deposits at March 31, 2025.
    • Demand Deposits: Demand deposits increased $12.6 million or 6.23% from March 31, 2024 and $3.9 million or 1.85% from December 31, 2024.
    • Loan Diversification Strategy: The Company continues to actively manage its Multi-Family and Commercial Real Estate portfolios which resulted in a reduction in the commercial real estate concentration ratio to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024. The Company continues to focus loan growth primarily in residential loan products originated for sale to specific buyers in the secondary market, C&I and SBA loans. The Company will selectively explore Commercial Real Estate opportunities with an emphasis on relationship based Commercial Real Estate lending.
    • Asset Quality: At March 31, 2025, the Bank’s asset quality improved with non-performing loans decreasing 28.5% to $11.7 million, representing 0.60% of the total loan portfolio, while the allowance for credit losses increased to 1.17% of total loans.
    • Tangible Book Value Per Share: Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.
    • Technology & Rebranding: The Company completed its core processing system conversion to FIS Horizon in February 2025. This conversion, coupled with our recently revealed refreshed corporate logo, exemplifies our momentum towards a more technologically advanced, modern and digitally forward-thinking bank.
    • Quarterly Cash Dividend: The Company’s Board of Directors approved a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

    MINEOLA, N.Y., April 23, 2025 (GLOBE NEWSWIRE) — Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter ended March 31, 2025 and the declaration of a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

    Earnings Summary for the Quarter Ended March 31, 2025

    The Company reported net income for the quarter ended March 31, 2025 of $1.5 million or $0.20 per diluted share (including Series A preferred shares), versus $4.1 million or $0.55 per diluted share (including Series A preferred shares) in the quarter ended March 31, 2024. The Company recorded adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) of $4.1 million or $0.55 per diluted share in the quarter ended March 31, 2025, versus net income of $4.1 million or $0.55 per diluted share in the comparable 2024 quarter (which included no adjustments). Returns on average assets, average stockholders’ equity and average tangible equity were 0.27%, 3.11% and 3.45%, respectively, for the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, for the comparable quarter of 2024. Adjusted (non-GAAP) returns, exclusive of core system conversion expenses on average assets, average stockholders’ equity and average tangible equity were 0.73%, 8.36% and 9.27%, respectively, in the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, in the comparable quarter of 2024.

    While net interest income and non-interest income increased during the quarter ended March 31, 2025 compared to the quarter ended March 31, 2024, these were partially offset by increases in provision for credit losses and non-interest expenses, particularly compensation and benefits and the one-time core system conversion expenses. The increase in compensation and benefits expense in the first quarter of 2025 versus the comparable 2024 quarter was primarily related to lower deferred loan origination costs partially offset by lower incentive compensation expense resulting from reduced lending activity. The Company’s effective tax rate decreased to 13.8% in the first quarter of 2025 from 24.9% both in the linked quarter and the comparable 2024 quarter due to the tax impact of the windfall benefit from expiring stock options that were exercised and vested restricted stock. We expect a normalized run rate of 25.0% for the remainder of the year.

    Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $1.7 million, or 13.10% from the comparable 2024 quarter due to improvement of the Company’s net interest margin to 2.68% in the 2025 quarter from 2.41% in the comparable 2024 quarter. The yield on interest earning assets decreased to 6.01% in the 2025 quarter from 6.03% in the comparable 2024 quarter, a decrease of 2 basis points that was partially offset by a 32 basis point decrease in the cost of interest-bearing liabilities to 4.01% in 2025 from 4.33% in the first quarter of 2024. Net interest income on a linked quarter basis increased $0.8 million or 5.95%, due to a 15 basis point increase in net interest margin resulting from a 23 basis point decrease in cost of interest-bearing liabilities, partially offset by a 5 basis point decrease on yield on interest earning assets. The increase in the net interest margin was a result of the late 2024 reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

    Michael P. Puorro, Chairman and Chief Executive Officer, commented on the Company’s quarterly results: “We are pleased with our first quarter performance which reflected sizable improvements in Net Interest Income and Net Interest Margin that drove stronger adjusted ROTE and ROA for the period. Specifically, NII increased from $13.8 million to $14.6 million and NIM from 2.53% to 2.68%, resulting in adjusted ROTE of 9.27% and ROA of 0.73%, confirming a trend away from the restrictive environment of the last couple of years. Building on this positive momentum were improved credit metrics and the completion of our core banking system conversion, a significant achievement that is expected to deliver tangible operational efficiencies and customer benefits while enhancing our commitment to digital banking. In addition to the core banking system conversion, we recently announced our new logo which is representative of our focus on innovation and a digital forward strategy. Moving forward, we remain committed to disciplined development of our core business verticals which include niche residential, SBA and C&I lending. Further, we look forward to a more favorable banking environment and the upcoming potential qualification for the Russell 2000, which should increase institutional ownership and enhance the liquidity of our stock.”

    Balance Sheet Highlights

    Total assets at March 31, 2025 were $2.29 billion versus $2.31 billion at December 31, 2024. Total securities available for sale at March 31, 2025 were $93.2 million, an increase of $9.4 million from December 31, 2024, primarily driven by growth in collateralized mortgage obligations, collateralized loan obligations and corporate bonds.

    Total deposits at March 31, 2025 were $1.94 billion, a decrease of $17.8 million or 0.91%, compared to $1.95 billion at December 31, 2024. Total deposits increased $19.2 million or 1.00% from March 31, 2024. Demand deposits increased $12.6 million or 6.23% from March 31, 2024. Our loan to deposit ratio improved to 101% at March 31, 2025 from 102% at December 31, 2024.

    The Company had $517.1 million in total municipal deposits at March 31, 2025, at a weighted average rate of 3.71% versus $509.3 million at a weighted average rate of 3.72% at December 31, 2024 and $576.3 million at a weighted average rate of 4.65% at March 31, 2024. The Company’s municipal deposit program is built on long-standing relationships developed in the local marketplace. This core deposit business will continue to provide a stable source of funding for the Company’s lending products at costs lower than those of consumer deposits and market-based borrowings. The Company continues to broaden its municipal deposit base and currently services 40 customer relationships.

    Total borrowings at March 31, 2025 were $107.8 million, with a weighted average rate and term of 4.11% and 20 months, respectively. At March 31, 2025 and December 31, 2024, the Company had $107.8 million of term FHLB advances outstanding. The Company had no FHLB overnight borrowings outstanding at March 31, 2025 and December 31, 2024. The Company had no borrowings outstanding under lines of credit with correspondent banks at March 31, 2025 and December 31, 2024.

    Stockholders’ equity was $196.6 million at both March 31, 2025 and December 31, 2024. Retained earnings increased by $0.8 million due primarily to net income of $1.5 million for the quarter ended March 31, 2025, which was offset by $0.7 million of dividends declared. The accumulated other comprehensive loss at March 31, 2025 was 0.71% of total equity and was comprised of a $0.9 million after tax net unrealized loss on the investment portfolio and a $0.5 million after tax net unrealized loss on derivatives. Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.

    Loan Portfolio

    For the three months ended March 31, 2025, the Bank’s loan portfolio decreased $24.9 million to $1.96 billion from December 31, 2024. The decrease resulted primarily from the ongoing management of our commercial real estate and multifamily loan concentrations. At March 31, 2025, the Company’s residential loan portfolio (including home equity) amounted to $733.6 million, with an average loan balance of $486 thousand and a weighted average loan-to-value ratio of 57%. Commercial real estate (including construction) and multifamily loans totaled $1.06 billion at March 31, 2025, with an average loan balance of $1.5 million and a weighted average loan-to-value ratio of 59%. As will be discussed below, approximately 37% of the multifamily portfolio is subject to rent regulation. The Company’s commercial real estate concentration ratio continues to improve, decreasing to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024, with loans secured by office space accounting for 2.23% of the total loan portfolio and totaling $43.8 million at March 31, 2025. The Company’s loan pipeline with executed term sheets at March 31, 2025 is approximately $255.0 million, with approximately 92% being niche-residential, conventional C&I and SBA lending opportunities.

    The Bank remains focused on expanding its core verticals and continues to originate loans for its portfolio and for sale in the secondary market under its residential flow origination program. Of the $48.8 million in closed residential loans originated in the quarter ended March 31, 2025, $27.6 million were originated for the Bank’s portfolio and reflected a weighted average yield of 6.64% before origination and other fees, which average 50-100 bps per loan, and a weighted average LTV of 58%. The remaining $21.2 million of closed loans were originated for sale in the secondary market. During the quarter ended March 31, 2025, the Company sold $18.3 million of residential loans under its flow origination program and recorded gains on sale of loans held-for-sale of $0.4 million with a premium of 2.38%.

    During the quarters ended March 31, 2025 and 2024, the Company sold approximately $23.4 million and $26.7 million, respectively, in government guaranteed SBA loans and recorded gains on sale of loans held-for-sale of $1.9 million and $2.5 million, respectively. SBA loan originations and gains on sale were lower due to a combination of factors, including: lower than expected loan sale premiums due, we believe, to first quarter market turmoil; delays in loan closings resulting from the impact of administrative changes to SBA Standard Operating Procedures; and the inability of certain loans to close because of delays by state regulatory agencies in issuing permit approvals to certain borrowers. As we enter the second quarter of 2025, we expect to navigate these factors and to increase the volume of origination and loan sale activity throughout the year. The Bank concluded the first quarter of 2025 with C&I loan originations of approximately $16.8 million. Based on its existing pipeline, the Bank expects C&I lending and deposit activity to grow as the year progresses.

    Commercial Real Estate Statistics

    A significant portion of the Bank’s commercial real estate portfolio consists of loans secured by Multi-Family and CRE-Investor owned real estate that are predominantly subject to fixed interest rates for an initial period of 5 years. The Bank’s exposure to Land/Construction loans is minor at $8.0 million, all at floating interest rates. As shown below, 31% of the loan balances in these combined portfolios will either have a rate reset or mature in 2025 and 2026, with another 56% with rate resets or maturing in 2027.

    Multi-Family Market Rent Portfolio Fixed Rate Reset/Maturity Schedule   Multi-Family Stabilized Rent Portfolio Fixed Rate Reset/Maturity Schedule
    Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate   Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate
                                                     
    2025   10   $ 16,321   $ 1,632   4.45 %   2025   10   $ 17,025   $ 1,703   5.03 %
    2026   36     117,886     3,275   3.66 %   2026   20     42,549     2,127   3.67 %
    2027   70     174,601     2,494   4.29 %   2027   53     123,668     2,333   4.22 %
    2028   16     21,382     1,336   6.20 %   2028   13     10,914     839   7.17 %
    2029   6     4,929     821   7.70 %   2029   4     4,328     1,082   6.38 %
    2030+   2     171     85   6.00 %   2030+   4     1,129     282   6.02 %
    Fixed Rate   140     335,290     2,395   4.61 %   Fixed Rate   104     199,613     1,919   4.39 %
    Floating Rate   2     749     375   9.50 %   Floating Rate   —     —     —   — %
    Total   142   $ 336,039   $ 2,366   4.26 %   Total   104   $ 199,613   $ 1,919   4.39 %
    CRE Investor Portfolio Fixed Rate Reset/Maturity Schedule
    Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate
                           
    2025   29   $ 23,092   $ 796   6.13 %
    2026   33     41,668     1,263   4.84 %
    2027   90     162,557     1,806   5.03 %
    2028   30     31,763     1,059   6.64 %
    2029   4     2,353     588   7.03 %
    2030+   13     7,967     613   6.49 %
    Fixed Rate   199     269,400     1,354   5.35 %
    Floating Rate   5     19,074     3,815   8.73 %
    Total CRE-Inv.   204   $ 288,474   $ 1,414   5.57 %

    Rental breakdown of Multi-Family portfolio

    The table below segments our portfolio of loans secured by Multi-Family properties based on rental terms and location. As shown below, 63% of the combined portfolio is secured by properties subject to free market rental terms, which is the dominant tenant type. Both the Market Rent and Stabilized Rent segments of our portfolio present very similar average borrower profiles. The portfolio is primarily located in the New York City boroughs of Brooklyn, the Bronx and Queens.

    Multi-Family Loan Portfolio – Loans by Rent Type
    Rent Type   # of Notes   Outstanding Loan Balance   % of Total Multi-Family   Avg Loan Size   LTV   Current DSCR   Avg # of Units  
            ($000’s omitted)         ($000’s omitted)                
                                           
    Market   142   $ 336,039   63 % $ 2,366   61.5 % 1.41   11  
    Location                                      
    Manhattan   7   $ 10,299   2 % $ 1,471   49.6 % 1.88   14  
    Other NYC   93   $ 244,552   46 % $ 2,630   61.2 % 1.40   9  
    Outside NYC   42   $ 81,188   15 % $ 1,933   64.2 % 1.36   13  
                                           
    Stabilized   104   $ 199,613   37 % $ 1,919   62.1 % 1.42   12  
    Location                                      
    Manhattan   6   $ 8,843   2 % $ 1,474   44.2 % 1.58   17  
    Other NYC   86   $ 171,852   32 % $ 1,998   62.8 % 1.41   11  
    Outside NYC   12   $ 18,918   3 % $ 1,576   64.1 % 1.49   16  


    Office Property Exposure

    The Bank’s exposure to the Office market is minor. Loans secured by office space accounted for 2.23% of the total loan portfolio with a total balance of $43.8 million, of which less than 1% is located in Manhattan. The pool has a 2.32x weighted average DSCR, a 53% weighted average LTV and less than $353,000 of exposure in Manhattan.

    Asset Quality and Allowance for Credit Losses

    At March 31, 2025, the Bank’s asset quality metrics improved with non-performing loans totaling $11.7 million compared to non-performing loans of $16.4 million at December 31, 2024, a decrease of $4.7 million. This decrease resulted primarily from the contracted sale of non-performing loans totaling $5.0 million, net of a $0.3 million charge-off, during the quarter. At March 31, 2025 non-performing loans were 0.60% of total loans outstanding versus 0.82% at December 31, 2024.

    During the first quarter of 2025, the Bank recorded a provision for credit losses expense of $0.6 million. The March 31, 2025 allowance for credit losses was $22.9 million versus $22.8 million at December 31, 2024. The allowance for credit losses as a percentage of total loans was 1.17% at March 31, 2025 and 1.15% at December 31, 2024.

    Net Interest Margin

    The Bank’s net interest margin increased to 2.68% for the quarter ended March 31, 2025 compared to 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024 due to the recent reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

    About Hanover Community Bank and Hanover Bancorp, Inc.

    Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover offers a complete suite of consumer, commercial, and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey, with a new branch opening in Port Jefferson, New York in mid 2025.

    Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at www.hanoverbank.com.

    Non-GAAP Disclosure

    This discussion, including the financial statements attached thereto, includes non-GAAP financial measures which include the Company’s adjusted net income, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, tangible common equity (“TCE”) ratio, TCE, tangible assets, tangible book value per share, return on average tangible equity and efficiency ratio. A non-GAAP financial measure is a numerical measure of historical or future performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company’s operating results and trends in addition to the results measured in accordance with GAAP, and provides greater comparability across time periods. While management uses non-GAAP financial measures in its analysis of the Company’s performance, this information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP. The Company’s non-GAAP financial measures may not be comparable to similarly titled measures used by other financial institutions.

    With respect to the calculations of and reconciliations of adjusted net income, TCE, tangible assets, TCE ratio and tangible book value per share, reconciliations to the most comparable U.S. GAAP measures are provided in the tables that follow.

    Forward-Looking Statements

    This release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “should,” “plan,” “estimate,” “predict,” “continue,” and “potential” or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hanover Bancorp, Inc. Any or all of the forward-looking statements in this release and in any other public statements made by Hanover Bancorp, Inc. may turn out to be incorrect. They can be affected by inaccurate assumptions that Hanover Bancorp, Inc. might make or by known or unknown risks and uncertainties, including those discussed in our Annual Report on Form 10-K under Item 1A – Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission. Further, the adverse effect of health emergencies or natural disasters on the Company, its customers, and the communities where it operates may adversely affect the Company’s business, results of operations and financial condition for an indefinite period of time. Consequently, no forward-looking statement can be guaranteed. Hanover Bancorp, Inc. does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

    Investor and Press Contact:
    Lance P. Burke
    Chief Financial Officer
    (516) 548-8500

                 
    HANOVER BANCORP, INC.            
    STATEMENTS OF CONDITION (unaudited)            
    (dollars in thousands)            
                   
                   
        March 31,   December 31,   March 31,  
          2025       2024       2024    
    Assets              
    Cash and cash equivalents $ 160,234     $ 162,857     $ 136,481    
    Securities-available for sale, at fair value   93,197       83,755       92,709    
    Investments-held to maturity   3,671       3,758       3,973    
    Loans held for sale   16,306       12,404       7,641    
                   
    Loans, net of deferred loan fees and costs   1,960,674       1,985,524       2,005,515    
    Less: allowance for credit losses   (22,925 )     (22,779 )     (19,873 )  
    Loans, net   1,937,749       1,962,745       1,985,642    
                   
    Goodwill     19,168       19,168       19,168    
    Premises & fixed assets   14,511       15,337       15,648    
    Operating lease assets   8,484       8,337       9,336    
    Other assets   38,207       43,749       36,910    
      Assets $ 2,291,527     $ 2,312,110     $ 2,307,508    
                   
    Liabilities and stockholders’ equity            
    Core deposits $ 1,418,209     $ 1,456,513     $ 1,453,035    
    Time deposits   518,229       497,770       464,227    
    Total deposits   1,936,438       1,954,283       1,917,262    
                   
    Borrowings   107,805       107,805       148,953    
    Subordinated debentures   24,702       24,689       24,648    
    Operating lease liabilities   9,144       9,025       10,039    
    Other liabilities   16,795       19,670       17,063    
      Liabilities   2,094,884       2,115,472       2,117,965    
                   
    Stockholders’ equity   196,643       196,638       189,543    
      Liabilities and stockholders’ equity $ 2,291,527     $ 2,312,110     $ 2,307,508    
                   
             
    HANOVER BANCORP, INC.        
    CONSOLIDATED STATEMENTS OF INCOME (unaudited)      
    (dollars in thousands, except per share data)        
             
      Three Months Ended  
      3/31/2025   3/31/2024  
             
    Interest income $ 32,837   $ 32,432  
    Interest expense   18,208     19,497  
    Net interest income   14,629     12,935  
    Provision for credit losses   600     300  
    Net interest income after provision for credit losses   14,029     12,635  
             
    Loan servicing and fee income   1,081     913  
    Service charges on deposit accounts   117     96  
    Gain on sale of loans held-for-sale   2,352     2,506  
    Other operating income   182     61  
    Non-interest income   3,732     3,576  
             
    Compensation and benefits   7,232     5,562  
    Conversion expenses   3,180     –  
    Occupancy and equipment   1,836     1,770  
    Data processing   593     518  
    Professional fees   787     818  
    Federal deposit insurance premiums   337     318  
    Other operating expenses   2,031     1,818  
    Non-interest expense   15,996     10,804  
             
    Income before income taxes   1,765     5,407  
    Income tax expense   244     1,346  
             
    Net income $ 1,521   $ 4,061  
             
    Earnings per share (“EPS”):(1)        
    Basic $ 0.20   $ 0.55  
    Diluted $ 0.20   $ 0.55  
             
    Average shares outstanding for basic EPS (1)(2)   7,463,537     7,376,227  
    Average shares outstanding for diluted EPS (1)(2)   7,469,489     7,420,926  
             
    (1) Calculation includes common stock and Series A preferred stock.      
    (2) Average shares outstanding before subtracting participating securities.      
             
                         
    HANOVER BANCORP, INC.                    
    CONSOLIDATED STATEMENTS OF INCOME (unaudited)                  
    QUARTERLY TREND                    
    (dollars in thousands, except per share data)                    
                         
      Three Months Ended  
      3/31/2025   12/31/2024   9/30/2024   6/30/2024   3/31/2024  
                         
    Interest income $ 32,837   $ 33,057   $ 34,113   $ 33,420   $ 32,432  
    Interest expense   18,208     19,249     21,011     20,173     19,497  
    Net interest income   14,629     13,808     13,102     13,247     12,935  
    Provision for credit losses   600     400     200     4,040     300  
    Net interest income after provision for credit losses   14,029     13,408     12,902     9,207     12,635  
                         
    Loan servicing and fee income   1,081     981     960     836     913  
    Service charges on deposit accounts   117     136     123     114     96  
    Gain on sale of loans held-for-sale   2,352     3,014     2,834     2,586     2,506  
    Gain on sale of investments   –     27     –     4     –  
    Other operating income   182     29     37     82     61  
    Non-interest income   3,732     4,187     3,954     3,622     3,576  
                         
    Compensation and benefits   7,232     6,699     6,840     6,499     5,562  
    Conversion expenses   3,180     –     –     –     –  
    Occupancy and equipment   1,836     1,810     1,799     1,843     1,770  
    Data processing   593     536     547     495     518  
    Professional fees   787     782     762     717     818  
    Federal deposit insurance premiums   337     375     360     365     318  
    Other operating expenses   2,031     2,198     1,930     1,751     1,818  
    Non-interest expense   15,996     12,400     12,238     11,670     10,804  
                         
    Income before income taxes   1,765     5,195     4,618     1,159     5,407  
    Income tax expense   244     1,293     1,079     315     1,346  
                         
    Net income $ 1,521   $ 3,902   $ 3,539   $ 844   $ 4,061  
                         
    Earnings per share (“EPS”):(1)                    
    Basic $ 0.20   $ 0.53   $ 0.48   $ 0.11   $ 0.55  
    Diluted $ 0.20   $ 0.52   $ 0.48   $ 0.11   $ 0.55  
                         
    Average shares outstanding for basic EPS (1)(2)   7,463,537     7,427,583     7,411,064     7,399,816     7,376,227  
    Average shares outstanding for diluted EPS (1)(2)   7,469,489     7,456,471     7,436,068     7,449,110     7,420,926  
                         
    (1) Calculation includes common stock and Series A preferred stock.
    (2) Average shares outstanding before subtracting participating securities.
                         
             
    HANOVER BANCORP, INC.        
    CONSOLIDATED NON-GAAP FINANCIAL INFORMATION (1)(unaudited)  
    (dollars in thousands, except per share data)        
             
      Three Months Ended  
      3/31/2025   3/31/2024  
             
    ADJUSTED NET INCOME:        
    Net income, as reported $ 1,521     $ 4,061    
    Adjustments:        
    Conversion expenses   3,180       –    
    Total adjustments, before income taxes   3,180       –    
    Adjustment for reported effective income tax rate   608       –    
    Total adjustments, after income taxes   2,572       –    
    Adjusted net income $ 4,093     $ 4,061    
    Basic earnings per share – adjusted $ 0.55     $ 0.55    
    Diluted earnings per share – adjusted $ 0.55     $ 0.55    
             
    ADJUSTED OPERATING EFFICIENCY RATIO:        
    Operating efficiency ratio, as reported   87.12 %     65.44 %  
    Adjustments:        
    Conversion expenses   -17.32 %     0.00 %  
    Adjusted operating efficiency ratio   69.80 %     65.44 %  
             
    ADJUSTED RETURN ON AVERAGE ASSETS   0.73 %     0.74 %  
    ADJUSTED RETURN ON AVERAGE EQUITY   8.36 %     8.70 %  
    ADJUSTED RETURN ON AVERAGE TANGIBLE EQUITY   9.27 %     9.71 %  
             
    (1) A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.
             
             
    HANOVER BANCORP, INC.        
    SELECTED FINANCIAL DATA (unaudited)      
    (dollars in thousands)        
             
             
      Three Months Ended  
      3/31/2025   3/31/2024  
    Profitability:        
    Return on average assets   0.27 %     0.74 %  
    Return on average equity (1)   3.11 %     8.70 %  
    Return on average tangible equity (1)   3.45 %     9.71 %  
    Pre-provision net revenue to average assets   0.42 %     1.03 %  
    Yield on average interest-earning assets   6.01 %     6.03 %  
    Cost of average interest-bearing liabilities   4.01 %     4.33 %  
    Net interest rate spread (2)   2.00 %     1.70 %  
    Net interest margin (3)   2.68 %     2.41 %  
    Non-interest expense to average assets   2.85 %     1.96 %  
    Operating efficiency ratio (4)   87.12 %     65.44 %  
             
    Average balances:        
    Interest-earning assets $ 2,217,107     $ 2,162,835    
    Interest-bearing liabilities   1,842,073       1,810,397    
    Loans   1,989,796       1,984,075    
    Deposits   1,919,436       1,842,642    
    Borrowings   133,665       162,427    
             
             
    (1) Includes common stock and Series A preferred stock.      
    (2) Represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
    (3) Represents net interest income divided by average interest-earning assets.  
    (4) Represents non-interest expense divided by the sum of net interest income and non-interest income.
             
    HANOVER BANCORP, INC.                  
    SELECTED FINANCIAL DATA (unaudited)                  
    (dollars in thousands, except share and per share data)                
                       
      At or For the Three Months Ended    
      3/31/2025   12/31/2024   9/30/2024   6/30/2024    
    Asset quality:                  
    Provision for credit losses – loans (1) $ 600   $ 400   $ 200   $ 3,850    
    Net (charge-offs)/recoveries   (454 )    (1,027 )    (438 )    (79 )   
    Allowance for credit losses   22,925     22,779     23,406     23,644    
    Allowance for credit losses to total loans (2)   1.17 %     1.15 %     1.17 %     1.17 %    
    Non-performing loans $ 11,697   $ 16,368   $ 15,365   $ 15,828    
    Non-performing loans/total loans   0.60 %     0.82 %     0.77 %     0.79 %    
    Non-performing loans/total assets   0.51 %     0.71 %     0.66 %     0.68 %    
    Allowance for credit losses/non-performing loans   195.99 %     139.17 %     152.33 %     149.38 %    
                       
    Capital (Bank only):                  
    Tier 1 Capital $ 201,925   $ 201,744   $ 198,196   $ 195,703    
    Tier 1 leverage ratio   8.95 %     9.13 %     8.85 %     8.89 %    
    Common equity tier 1 capital ratio   13.37 %     13.32 %     12.99 %     12.78 %    
    Tier 1 risk based capital ratio   13.37 %     13.32 %     12.99 %     12.78 %    
    Total risk based capital ratio   14.62 %     14.58 %     14.24 %     14.21 %    
                       
    Equity data:                  
    Shares outstanding (3)   7,503,731     7,427,127     7,428,366     7,402,163    
    Stockholders’ equity $ 196,643   $ 196,638   $ 192,339   $ 190,072    
    Book value per share (3)   26.21     26.48     25.89     25.68    
    Tangible common equity (3)   177,239     177,220     172,906     170,625    
    Tangible book value per share (3)   23.62     23.86     23.28     23.05    
    Tangible common equity (“TCE”) ratio (3)   7.80 %     7.73 %     7.49 %     7.38 %    
                       
    (1) Excludes $0, $0, $0 and $190 thousand provision for credit losses on unfunded commitments for the quarters ended 3/31/25, 12/31/24, 9/30/24 and 6/30/24, respectively.  
    (2) Calculation excludes loans held for sale.    
    (3) Includes common stock and Series A preferred stock.    
                       
                     
    HANOVER BANCORP, INC.                
    STATISTICAL SUMMARY                
    QUARTERLY TREND                
    (unaudited, dollars in thousands, except share data)              
                       
        3/31/2025   12/31/2024   9/30/2024   6/30/2024  
                       
    Loan distribution (1):                
    Residential mortgages $ 708,649     $ 702,832     $ 719,037     $ 733,040    
    Multifamily     535,429       550,570       557,634       562,503    
    Commercial real estate   520,808       536,288       529,948       549,725    
    Commercial & industrial   170,442       168,909       171,899       139,209    
    Home equity   24,914       26,422       26,825       27,992    
    Consumer     432       503       470       485    
                       
    Total loans $ 1,960,674     $ 1,985,524     $ 2,005,813     $ 2,012,954    
                       
    Sequential quarter growth rate   -1.25 %     -1.01 %     -0.35 %     0.37 %  
                       
    CRE concentration ratio   369 %     385 %     397 %     403 %  
                       
    Loans sold during the quarter $ 46,649     $ 53,499     $ 43,537     $ 35,302    
                       
    Funding distribution:                
    Demand   $ 215,569     $ 211,656     $ 206,327     $ 199,835    
    N.O.W.     698,297       692,890       621,880       661,998    
    Savings     46,275       48,885       53,024       44,821    
    Money market   458,068       503,082       572,213       571,170    
    Total core deposits   1,418,209       1,456,513       1,453,444       1,477,824    
    Time     518,229       497,770       504,100       464,105    
    Total deposits   1,936,438       1,954,283       1,957,544       1,941,929    
    Borrowings   107,805       107,805       125,805       148,953    
    Subordinated debentures   24,702       24,689       24,675       24,662    
                       
    Total funding sources $ 2,068,945     $ 2,086,777     $ 2,108,024     $ 2,115,544    
                       
    Sequential quarter growth rate – total deposits   -0.91 %     -0.17 %     0.80 %     1.29 %  
                       
    Period-end core deposits/total deposits ratio   73.24 %     74.53 %     74.25 %     76.10 %  
                       
    Period-end demand deposits/total deposits ratio   11.13 %     10.83 %     10.54 %     10.29 %  
                       
    (1) Excluding loans held for sale                
                       
                         
    HANOVER BANCORP, INC.                    
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (1)(unaudited)          
    (dollars in thousands, except share and per share amounts)              
                         
                         
      3/31/2025   12/31/2024   9/30/2024   6/30/2024   3/31/2024  
    Tangible common equity                    
    Total equity (2) $ 196,643     $ 196,638     $ 192,339     $ 190,072     $ 189,543    
    Less: goodwill   (19,168 )     (19,168 )     (19,168 )     (19,168 )     (19,168 )  
    Less: core deposit intangible   (236 )     (250 )     (265 )     (279 )     (295 )  
    Tangible common equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
                         
    Tangible common equity (“TCE”) ratio                  
    Tangible common equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
    Total assets   2,291,527       2,312,110       2,327,814       2,331,098       2,307,508    
    Less: goodwill   (19,168 )     (19,168 )     (19,168 )     (19,168 )     (19,168 )  
    Less: core deposit intangible   (236 )     (250 )     (265 )     (279 )     (295 )  
    Tangible assets $ 2,272,123     $ 2,292,692     $ 2,308,381     $ 2,311,651     $ 2,288,045    
    TCE ratio (2)   7.80 %     7.73 %     7.49 %     7.38 %     7.43 %  
                         
    Tangible book value per share                    
    Tangible equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
    Shares outstanding (2)   7,503,731       7,427,127       7,428,366       7,402,163       7,392,412    
    Tangible book value per share (2) $ 23.62     $ 23.86     $ 23.28     $ 23.05     $ 23.01    
                         
    (1) A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.  
                         
    (2) Includes common stock and Series A preferred stock.  
       
                             
    HANOVER BANCORP, INC.      
    NET INTEREST INCOME ANALYSIS      
    For the Three Months Ended March 31, 2025 and 2024      
    (unaudited, dollars in thousands)      
                             
                             
        2025       2024    
      Average       Average   Average       Average  
      Balance   Interest   Yield/Cost Balance   Interest   Yield/Cost  
                             
    Assets:                        
    Interest-earning assets:                        
    Loans $ 1,989,796   $ 29,984   6.11 %   $ 1,984,075   $ 29,737   6.03 %  
    Investment securities   85,839     1,186   5.60 %     94,845     1,457   6.18 %  
    Interest-earning cash   133,458     1,482   4.50 %     74,672     1,014   5.46 %  
    FHLB stock and other investments   8,014     185   9.36 %     9,243     224   9.75 %  
    Total interest-earning assets   2,217,107     32,837   6.01 %     2,162,835     32,432   6.03 %  
    Non interest-earning assets:                        
    Cash and due from banks   9,504             7,945          
    Other assets   49,695             49,941          
    Total assets $ 2,276,306           $ 2,220,721          
                             
    Liabilities and stockholders’ equity:                        
    Interest-bearing liabilities:                        
    Savings, N.O.W. and money market deposits $ 1,217,429   $ 11,455   3.82 %   $ 1,161,191   $ 12,933   4.48 %  
    Time deposits   490,979     5,320   4.39 %     486,779     4,962   4.10 %  
    Total savings and time deposits   1,708,408     16,775   3.98 %     1,647,970     17,895   4.37 %  
    Borrowings   108,972     1,107   4.12 %     137,788     1,276   3.72 %  
    Subordinated debentures   24,693     326   5.35 %     24,639     326   5.32 %  
    Total interest-bearing liabilities   1,842,073     18,208   4.01 %     1,810,397     19,497   4.33 %  
    Demand deposits   211,028             194,672          
    Other liabilities   24,726             27,959          
    Total liabilities   2,077,827             2,033,028          
    Stockholders’ equity   198,479             187,693          
    Total liabilities & stockholders’ equity $ 2,276,306           $ 2,220,721          
    Net interest rate spread         2.00 %           1.70 %  
    Net interest income/margin     $ 14,629   2.68 %       $ 12,935   2.41 %  
                             

    The MIL Network –

  • MIL-OSI: Credit Agricole Sa: ORDINARY AND EXTRAORDINARY GENERAL MEETING OF CRÉDIT AGRICOLE S.A. OF 14 May 2025

    Source: GlobeNewswire (MIL-OSI)

    Montrouge, 23 April 2025

    ORDINARY AND EXTRAORDINARY GENERAL MEETING
    OF CRÉDIT AGRICOLE S.A. OF 14 May 2025

    Publication of the Notice of Meeting – Opening of the vote –
    Procedures for making the preparatory documents available

    Crédit Agricole S.A. informs its shareholders that its Ordinary and Extraordinary General Meeting will be held on Wednesday, 14 May 2025 at 9.30 am in Paris (75005), France, at Maison de la Mutualité, 24 rue Saint-Victor.

    A Notice of Meeting, including in particular the agenda and the draft resolutions, was published in the French bulletin of mandatory legal announcements (Bulletin des Annonces Légales Obligatoires) No. 35 of 21 March 2025.

    All of the matters relating to this General Meeting are made available to shareholders in accordance with the regulations and legislation in force.

    In particular:

    • the information and documents referred to specifically in Article R. 22-10-23 of the French Commercial Code (Code de Commerce), as well as the Notice of Meeting for the Ordinary and Extraordinary General Meeting, are available on the Crédit Agricole S.A. website at:

    https://www.credit-agricole.com/en/finance/individual-shareholders/annual-general-meeting

    • by means of the Notice of Meeting, all shareholders may:
      • familiarise themselves with the documents referred to in Article R. 225-83 of the French Commercial Code (Code de Commerce) at the Company registered office; and
      • up until 10 May 2025 inclusive, request that the Company sends them these documents, it being specified that in order for holders of bearer shares to exercise this right, they must provide a certificate of shareholding for the bearer share accounts held by the authorised intermediary.

    Online voting is open between 23 April 2025 12.00 pm (midday, Paris time) until 13 May 2025 3.00 pm (Paris time). The paper forms must be received by Uptevia no later than 11 May 2025.

    The General Meeting will be broadcast live online via the section relating to the General Meeting:
    https://www.credit-agricole.com/en/finance/individual-shareholders/annual-general-meeting.
    Crédit Agricole S.A. press contacts
    Alexandre Barat : +33 1 57 72 45 73 – alexandre.barat@credit-agricole-sa.fr
    Olivier Tassain : +33 1 43 23 25 41 – olivier.tassain@credit-agricole-sa.fr

    All our press releases can be found at: https://www.credit-agricole.com/en

    Customer Relations contacts – individual shareholders
    Freephone: 0,800,000,777
    credit-agricole-sa@relations-actionnaires.com

    Customer Relations contacts – registered shareholders
    + 33 1 57 78 34 31
    ct-contactcasa@uptevia.com

    Customer Relations contacts – institutional investors
    + 33 1 43 23 04 31
    investor.relations@credit-agricole-sa.fr

    Attachment

    The MIL Network –

  • MIL-OSI Russia: No one is forgotten, nothing is forgotten. A number of events dedicated to the 80th anniversary of the Great Victory were held at the State University of Management

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    The closer the 80th anniversary of the Victory in the Great Patriotic War, the more thematic events the State University of Management holds.

    The Institute of Personnel Management, Social and Business Communications held a patriotic event on the topic “Military Translators – Contribution to the Great Victory.”

    The students discussed the details of the complex and responsible work of specialists who speak foreign languages. Military translators are needed not only during military operations, but also in peacetime, providing troops with important information. In addition to their main duties, military translators also acted on the battlefield. They provided assistance in rescuing wounded soldiers and participated in special operations.

    One of such specialists was Doctor of Economics, Professor of the State University of Management Boris Ionas. During the Great Patriotic War, he served as a military translator for the intelligence department of the headquarters of the 3rd Guards Tank Army of the 1st Ukrainian Front and reached Berlin with it. He was awarded two Orders of the Red Star, medals “For the Liberation of Prague” and “For the Capture of Berlin”. After the end of the war, from 1949 until his death in 1989, Boris Yakovlevich worked at the Moscow Engineering and Economics Institute (currently the State University of Management) in the Department of Construction Economics, including as the head of the department.

    On April 22 at 12:00, near the entrance to the Central Control and Monitoring Center, a grand opening ceremony of the Immortal Regiment exhibition of the Marketing Institute “The Names of Heroes in Our Hearts” took place.

    First-year students majoring in Advertising and Public Relations, staff and teachers of the Institute of Management collected invaluable evidence, photographs and stories that tell of the feat of our heroes.

    During the opening of the exhibition, the director of the Marketing Institute Gennady Azoev said: “Remembering the exploits of our relatives, we create the history of our Motherland! After all, Motherland and relatives are words with the same root! And the names of our relatives are in our hearts!”

    The exhibition will run until May 12.

    On April 22 at 16:00, a joint screening of Mikhail Kalatozov’s film “The Cranes Are Flying” (1957) was held at the Institute of Economics and Finance. The film is the only Soviet film to receive the Palme d’Or at the Cannes International Film Festival.

    After viewing, the students left their feedback.

    Anzhelika Yamshchikova: “The film immerses you in the atmosphere of military events and conveys the tension and drama on the battlefield. The acting is impressive, each character reliably reflects the real emotions and experiences of the soldiers. The direction and camera work create vivid and memorable scenes, making you think about the price of war and heroism.”

    Ilham Usmonov: “Today I watched the work of art “The Cranes Are Flying” for the first time. In the epilogue, we were shown that not all films, as in real life, do not always have a Happy Ending, but this is not a reason to give up or throw in the towel.”

    Immersion in the history of the Great Patriotic War allows the modern generation of students to better understand the significance of the feat of the Soviet people in those years.

    #Scientific regiment

    Subscribe to the TG channel “Our GUU” Date of publication: 23.04.2025

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Verizon’s 2025 Data Breach Investigations Report: Alarming surge in cyberattacks through third-parties

    Source: Verizon

    Headline: Verizon’s 2025 Data Breach Investigations Report: Alarming surge in cyberattacks through third-parties

    BASKING RIDGE, NJ – Verizon Business today released its 2025 Data Breach Investigations Report (DBIR), which reveals a significant increase in cyberattacks. The report found that third-party involvement in breaches has doubled to 30%, and exploitation of vulnerabilities has surged by 34%, creating a concerning threat landscape for businesses globally.

    The report, which analyzed over 22,000 security incidents, including 12,195 confirmed data breaches, found that credential abuse (22%) and exploitation of vulnerabilities (20%) continue to be the leading initial attack vectors, highlighting the critical need for enhanced security measures.

    “The DBIR’s findings underscore the importance of a multi-layered defense strategy,” said Chris Novak, Vice President, Global Cybersecurity Solutions, Verizon Business. “Businesses need to invest in robust security measures, including strong password policies, timely patching of vulnerabilities, and comprehensive security awareness training for employees.”

    Key findings from the report emphasize the urgency for businesses to address cybersecurity threats:

    • Exploitation of Vulnerabilities: This initial attack vector saw a 34% increase, with a significant focus on zero-day exploits targeting perimeter devices and VPNs
    • Ransomware: Ransomware attacks rose by 37% since last year, and are now present in 44% of breaches, despite a noticeable decrease in the median ransom amount paid
    • Third-Party Involvement: The percentage of breaches involving third parties doubled, highlighting the risks associated with supply chain and partner ecosystems
    • Human Element: Human involvement in breaches remains high, with a significant overlap between social engineering and credential abuse

    The 2025 DBIR also shed light on industry-specific trends, revealing an alarming rise in espionage-motivated attacks in the Manufacturing and Healthcare sectors, and persistent threats to the Education, Financial, and Retail industries. The report also highlighted the disproportionate impact of ransomware on small and medium-sized businesses (SMBs).

    Verizon Business’s 2025 DBIR serves as a wake-up call for businesses to take immediate action to strengthen their cybersecurity posture and mitigate the risks posed by evolving cyber threats. With the median ransom payment to cybercriminals last year being US$115,000, this is a significant amount for many SMBs. By adopting a proactive and comprehensive approach to cybersecurity, businesses can help safeguard their assets, protect their customers, and ensure their long-term success in an increasingly digital world.

    “This year’s DBIR findings reflect a mixed bag of results. Glass-half-full types can celebrate the rise in the number of victim organizations that did not pay ransoms with 64% not paying vs 50% two years ago. The glass-half empty personas will see in the DBIR that organizations that don’t have the proper IT and cybersecurity maturity – often the SMB sized organizations, are paying the price for their size with ransomware being present in 88% of breaches,” said Craig Robinson, Research Vice President, Security Services at IDC. “While there is no magic pill to swallow that will alleviate the pain of cybersecurity attacks, Verizon’s leadership in educating the public on the types of attacker motives, tactics and techniques is a key head start in raising global awareness and cyber readiness”

    To learn more about cybersecurity and actionable guidance to create a safer digital world visit our Cybersecurity Awareness page.

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon’s 2025 Data Breach Investigations Report: System intrusions behind 80% of APAC breaches

    Source: Verizon

    Headline: Verizon’s 2025 Data Breach Investigations Report: System intrusions behind 80% of APAC breaches

    SINGAPORE – Verizon Business today released its 2025 Data Breach Investigations Report (DBIR), sounding the alarm on a surge of system intrusions across the Asia-Pacific region. The report reveals that 4 out of 5 data breaches in the region stemmed from such attacks – up from 38% the previous year.

    Now in its 18th year, the report analysed more than 22,000 security incidents, including 12,195 confirmed data breaches spanning 139 countries. Malware increased from 58% last year in APAC to 83% this year, with Ransomware accounting for 51% of breaches.

    “This year’s report reinforces the growing complexity and persistence of cyber threats facing organisations worldwide. In the Asia-Pacific region in particular, external actors are targeting critical infrastructure and exploiting third-party vulnerabilities. The rising incidence of breaches highlights the imperative for businesses to reassess their risk frameworks,” said Robert Le Busque, Regional Vice President, Asia Pacific for Verizon Business.

    Key APAC Findings:

    • Social Engineering: The absolute number of Social Engineering breaches has been on the decline since 2021, it only accounts for 20% of breaches in 2025 due, in part, to the sharp increase of system intrusion
    • Malware: Malware in data breaches jumped significantly, from 58% last year to 83% this year with email being the key vector for distributing various types of malware
    • Ransomware: Now accounts for 51% of the total breaches in this region and remains highly visible as threat actors often publicize breaches

    Key Global Findings:

    • Exploitation of Vulnerabilities: This initial attack vector saw a 34% increase, with a significant focus on zero-day exploits targeting perimeter devices and VPNs
    • Ransomware: Ransomware attacks rose by 37% since last year, and are now present in 44% of breaches, despite a noticeable decrease in the median ransom amount paid.
    • Third-Party Involvement: The percentage of breaches involving third parties doubled, highlighting the risks associated with supply chain and partner ecosystems
    • Human Element: Human involvement in breaches remains high, with a significant overlap between social engineering and credential abuse

    The 2025 DBIR also shed light on industry-specific trends, revealing an alarming rise in espionage-motivated attacks in the Manufacturing and Healthcare sectors, and persistent threats to the Education, Financial, and Retail industries. The report also highlighted the disproportionate impact of ransomware on small and medium-sized businesses (SMBs).

    Verizon Business’s 2025 DBIR serves as a wake-up call for businesses to take immediate action to strengthen their cybersecurity posture and mitigate the risks posed by evolving cyber threats. With the median ransom payment to cybercriminals last year being US$115,000, this is a significant amount for many SMBs. By adopting a proactive and comprehensive approach to cybersecurity, businesses can help safeguard their assets, protect their customers, and ensure their long-term success in an increasingly digital world.

    “This year’s DBIR findings reflect a mixed bag of results. Glass-half-full types can celebrate the rise in the number of victim organizations that did not pay ransoms with 64% not paying vs 50% two years ago. The glass-half empty personas will see in the DBIR that organizations that don’t have the proper IT and cybersecurity maturity – often the SMB sized organizations, are paying the price for their size with ransomware being present in 88% of breaches,” said Craig Robinson, Research Vice President, Security Services at IDC. “While there is no magic pill to swallow that will alleviate the pain of cybersecurity attacks, Verizon’s leadership in educating the public on the types of attacker motives, tactics and techniques is a key head start in raising global awareness and cyber readiness”

    Visit our Cybersecurity Awareness page to learn more about data privacy and Verizon’s efforts.

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon’s 2025 Data Breach Investigations Report: System intrusion breaches double in EMEA

    Source: Verizon

    Headline: Verizon’s 2025 Data Breach Investigations Report: System intrusion breaches double in EMEA

    LONDON, UK  – Verizon Business today released its 2025 Data Breach Investigations Report (DBIR), revealing a dramatic surge in global data breaches, with EMEA experiencing a significant increase in system intrusion breaches. These breaches have skyrocketed, nearly doubling to 53% of breaches in the region in just one year.

    The 2025 DBIR, which analysed over 22,000 security incidents, including 12,195 confirmed data breaches, found third-party involvement doubling to 30% in this year’s report and a 34% surge in vulnerability exploitation globally. In EMEA, nearly a third (29%) of breaches originated from within the organisation, a stark contrast to APAC, where only 1% of threats are from internal actors, and North America, where internal threats account for just 5% of breaches. Although EMEA experienced the highest percentage of breaches caused by internal actors, the number of insiders decreased by 41% in 2025. This decline was due to a faster increase in other types of breaches.

    “The alarming rate of employee-driven breaches in EMEA underscores a critical need for businesses to strengthen their internal cybersecurity. Organisations must go beyond guarding against external threats and foster a culture of security awareness and accountability within,” said Sanjiv Gossain, Group Vice President and Head of EMEA of Verizon Business. “The surge in system intrusions across EMEA is a clear warning to organisations to urgently fortify both external defenses and internal controls through comprehensive employee training, robust access controls, and zero-trust frameworks.”

    Key EMEA Findings:

    • System Intrusion Threats: System intrusion breaches surged to 53%, nearly double last year’s rate of 27%
    • Insider Leaks: 29% of breaches originate from within EMEA organisations, with 19% attributed to unintentional mistakes and 8% involving misuse, such as unauthorised use of data that violates the organisation’s policies
    • Social Engineering: The second-most common incident pattern in the region, with phishing appearing in 19% of breaches in EMEA

    Key Global Findings:

    • Exploitation of Vulnerabilities: This initial attack vector saw a 34% increase, with a significant focus on zero-day exploits targeting perimeter devices and VPNs
    • Ransomware: Ransomware attacks rose by 37% since last year, and are now present in 44% of breaches, despite a noticeable decrease in the median ransom amount paid
    • Third-Party Involvement: The percentage of breaches involving third parties doubled, highlighting the risks associated with supply chain and partner ecosystems
    • Human Element: Human involvement in breaches remains high, with a significant overlap between social engineering and credential abuse

    “The DBIR’s findings underscore the importance of a multi-layered defense strategy,” said Chris Novak, Vice President, Global Cybersecurity Solutions, Verizon Business. “Businesses need to invest in robust security measures, including strong password policies, timely patching of vulnerabilities, and comprehensive security awareness training for employees.”

    Sector Spotlight: Manufacturing Hit by Sixfold Surge in Espionage Attacks

    The 2025 DBIR exposes alarming cybersecurity shifts targeting key industries worldwide. Manufacturing has experienced a dramatic, nearly sixfold surge in espionage-motivated breaches, jumping to 20% from just 3% last year. Healthcare similarly faces rising espionage threats, while Education and Financial industries also continue to battle persistent cybersecurity challenges.

    Retail organisations have weathered a 15% increase in cyber incidents since 2024, with attackers now pivoting away from payment card data toward easier targets such as customer credentials, business plans, and reports.

    This year’s findings serve as a critical warning for businesses globally—including those in EMEA—to take immediate, decisive action. Organisations must strengthen their cybersecurity defenses against these evolving threats to protect vital assets, maintain customer trust, and ensure sustainable success in today’s digital landscape.

    “This year’s DBIR findings reflect a mixed bag of results. Glass-half-full types can celebrate the rise in the number of victim organisations that did not pay ransoms with 64% not paying vs 50% two years ago. The glass-half empty personas will see in the DBIR that organisations that don’t have the proper IT and cybersecurity maturity – often the SMB sized organisations, are paying the price for their size with ransomware being present in 88% of breaches,” said Craig Robinson, Research Vice President, Security Services at IDC. “While there is no magic pill to swallow that will alleviate the pain of cybersecurity attacks, Verizon’s leadership in educating the public on the types of attacker motives, tactics and techniques is a key head start in raising global awareness and cyber readiness”

    Visit our Cybersecurity Awareness page to learn more about data privacy and Verizon’s efforts.

    MIL OSI Economics –

  • MIL-OSI Russia: Financial news: Moscow Exchange Financial Services and Alfa Capital launch proprietary funds

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    Marketplace for money Financial Services of the Moscow Exchange and the management company Alfa-Capital have started selling proprietary funds — shares of open-end mutual investment funds (OPIF) created to implement investment strategies of famous financial experts. The funds are managed by popular opinion leaders with extensive investment experience who will share their solutions and market vision with investors.

    A product that is innovative for the Russian collective investment industry is available for purchase at marketplace Finuslugi and on the website of the Alfa Capital Management Company. The marketplace and the management company provide all stages of the funds’ functioning, while the authors of strategies have the opportunity to form fund portfolios based on their own expertise and assessment of the prospects of investment ideas. The rules of trust management of funds are registered by the Bank of Russia.

    The new product line includes three funds:

    “Black Line” managed by Nazar Shchetinin, the author of the “Harmful Investor” Telegram channel. The fund will focus on stocks of companies that can create value for their holders, while the expert will open positions during periods of active business development. “The Magnificent Seven” managed by Ivan Kreynin, the author of the Investment Diary Telegram channel. Based on seven key criteria, the fund’s portfolio will select stocks that can show growth in any market environment. “Matryoshka a la Rus” managed by Konstantin Kudritsky, the author of the “Ask Vasilich” Telegram channel. The portfolio, diversified by asset class, will include stocks and bonds of companies from many industries that react differently to the economic situation.

    The funds are available to non-qualified investors, the minimum investment amount is 100 rubles. The total limit on expenses and remuneration provided for by the rules of trust management of the funds is 2.5% of the average annual value of the fund’s net assets. You can leave the fund without restrictions, no commission is charged for buying and selling on the Finuslugi marketplace.

    “Funds managed by invited experts are an absolute breakthrough in the Russian financial market. We offer clients the opportunity not only to follow the authors of well-known investment channels, but also to participate in their strategy. Finuslugi creates an accessible way to invest in fund shares: marketplace clients do not need to open a brokerage account, they just need to top up their wallet and buy the asset they like,” said Igor Alutin, Senior Managing Director for Retail Business, Development of Electronic Platforms and the Finuslugi Project at Moscow Exchange.

    “Author funds are not just open-end mutual funds, they are funds with a public manager, to whose feed investors will soon have access directly within the marketplace, where fund news, webinars and the author’s thoughts on strategy and completed transactions will be published. We hope that the new product will give a powerful impetus to the popularization of collective investments, and will also attract the attention of other market participants to the practice of creating author funds,” said Boris Blokhin, Managing Director for the Stock Market at Moscow Exchange.

    “Launching funds managed by invited experts is a fairly common practice in foreign markets, a proven one. Combining the resources of the management company, expertise and audience coverage of the creators of proprietary strategies will attract additional attention to the retail mutual fund industry and will contribute to the growth of popularity of the portfolio approach to investments in general. We are confident that the joint project with Finuslugi will open a new chapter in the development of the product offer on the Russian market for a larger number of retail investors,” commented Elena Chikulaeva, Strategy Director of Alfa Capital Management Company.

    Finuslugi is a marketplace for money created by the Moscow Exchange. On Finuslugi, you can select and open bank deposits online 24/7, take out cash loans, purchase mutual fund units, OSAGO, CASCO, mortgage insurance, real estate insurance policies, as well as public bonds of companies and Russian regions. You can top up deposits and accounts on Finuslugi for free using the Fast Payment System (FPS). The service can be used regardless of the region, anywhere in Russia and the world. More details on website.

    Alfa Capital Management Company is one of the largest companies in the asset management market. Alfa Capital Management Company was established in 1996 and is a pioneer in the asset management market for private, institutional and corporate investors.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.M.M.

    MIL OSI Russia News –