NewzIntel.com

Category: Economy

  • MIL-OSI Analysis: Grandparent care: women from poorer backgrounds help out most with childcare

    Source: The Conversation – UK – By Giorgio Di Gessa, Lecturer in Data Science, UCL

    szefei/Shutterstock

    Grandparents play a pivotal role in family life. They are often a vital part of the childcare puzzle, stepping in to look after their grandchildren while parents are at work or busy. And there’s a lot of grandparent care taking place.

    In England, around half of all grandparents provide care for their grandchildren when the parents are not around. And the percentage of grandparents providing care is even higher when they have grandchildren aged 16 and under, who are more likely to require supervision, care, and support from an adult when the parents are busy at work or unavailable. In this case, 66% of grandparents help out.

    I used data from the English Longitudinal Study of Ageing, to analyse the caring roles of over 5,000 grandparents. I used data collected in 2016-17 to assess how often grandparents looked after their grandchildren, the activities they did with them, and why they helped out. I also discovered that there are clear gender and socioeconomic patterns. Further analysis of data from 2018-19 showed that providing care as a grandparent can affect wellbeing.

    I found that in England, among grandparents who looked after grandchildren, 45% of grandparents spent at least one day a week looking after their young grandchildren. They did so consistently throughout the year, with 8% doing so almost daily. Approximately one in three grandparents provided care to their grandchildren during school holidays.

    Around 25% of grandparents who looked after their grandchildren were still working. Most grandparents reported having overall good physical health.

    And most grandparents who cared for their grandchildren also lived relatively close to them – less than half an hour away from their closest grandchild – and had at least one grandchild aged under six years old.

    Most of the grandparents in the study who cared for grandchildren – 80% – mentioned that they played or took part in leisure activities with their grandchildren. Around half said that they frequently cooked for them and helped with picking them up and dropping them off from schools and nurseries. And although it was less common, grandparents also helped with homework and taking care of their grandchildren when they were not feeling well.

    About three grandparents in four (76%) said that their motivation for helping out was to give their grandchildren’s parents some time out from childcare responsibilities. A similar percentage – 70% – said they wanted to provide some economic support, either by offering financial assistance or by allowing parents to go to work.

    Just over half of grandparents (52%) said that being able to provide emotional support was what drove their motivation to provide grandchild care: they wanted to feel engaged with young people and help their grandchildren develop. But 17% say that they felt obliged to help out, and found it difficult to refuse.

    The grandmother’s role

    But while we tend to talk about “grandparents” as a group, grandmothers and grandfathers often experience and approach caregiving in distinctly different ways.

    In particular, when examining the specific activities undertaken with their grandchildren, there are clear gender distinctions. I found that grandmothers were more likely than grandfathers to engage in hands-on tasks: preparing meals, helping with homework, caring for grandchildren when they are sick, and doing school pick-ups.

    Grandfathers were less likely to do hands-on caring activities, such as school pickups.
    Rawpixel.com/Shutterstock

    Grandfathers, while also involved, tended to participate less in these activities. This is the case even among grandparent couples who lived together and jointly cared for their grandchildren.

    The role of wealth

    The extent and nature of grandparental care is also closely linked to grandparents’ socioeconomic status. For example, grandparents with fewer financial resources tended to offer childcare more regularly than their wealthier counterparts.

    Socioeconomic disparities also shape the nature of caregiving tasks. Less affluent grandparents were more likely to engage in hands-on activities, such as cooking meals and taking their grandchildren to and from school. In contrast, grandparents with more education were more likely than those with less education to help with homework frequently.

    The reasons for providing care also varied according to grandparents’ socioeconomic status. Grandparents with greater financial resources and higher levels of education were more likely to report providing childcare to help parents manage work and other responsibilities, as well as to offer emotional support to their grandchildren. Conversely, those with fewer financial resources were more likely to feel obliged to help or to struggle to refuse caregiving duties.

    Grandparent wellbeing

    What grandparents do with their grandchildren and why they have an active role in caring for them can also affect their wellbeing in complex ways. Grandparents who often took part in fun or enriching activities with their grandchildren, such as leisure activities or helping with homework, tended to report higher wellbeing compared to their peers who did not look after grandchildren.

    However, grandparents who cared for their grandchildren when they were sick or who had them stay overnight without parents tended to report, over time, lower wellbeing.

    Motivations also matter for grandparents’ wellbeing. Grandparents had a higher quality of life if they cared for their grandchildren because they wanted to help them develop as people, or to feel engaged with young people. However, grandparents who felt obliged to help, perhaps due to family pressure or lack of alternatives, experienced lower wellbeing.

    In short, these findings remind us that behind the broad label of “grandparenting” lies a diverse world of individuals whose involvement in caring for grandchildren – how often they care, what they do, and why – is closely linked to and varies with gender norms and socioeconomic status.

    Also, the meaning behind grandparenting and the type of interactions shared with grandchildren seems to matter for grandparents’ wellbeing. Overall, these insights suggest that these caring responsibilities may contribute to the reinforcement or even deepening of existing gender, socioeconomic and health inequalities among older adults.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. Grandparent care: women from poorer backgrounds help out most with childcare – https://theconversation.com/grandparent-care-women-from-poorer-backgrounds-help-out-most-with-childcare-253168

    MIL OSI Analysis –

  • MIL-OSI USA: Department of Energy Terminates Taxpayer-Funded Financial Assistance for Grain Belt Express

    Source: US Department of Energy

    The Department of Energy today announced the Loan Programs Office has terminated its conditional commitment for the Grain Belt Express Phase 1 project.

    Energy.gov

    July 23, 2025

    WASHINGTON— The Department of Energy (DOE) today announced the Loan Programs Office (LPO) has terminated its conditional commitment for the Grain Belt Express Phase 1 project, a high-voltage direct current (HVDC) transmission line intended to connect wind and solar capacity across Kansas and Missouri. The conditional commitment, which would have provided a taxpayer-funded loan guarantee of up to $4.9 billion dollars, was issued by the Biden administration in November 2024 – one of many conditional commitments that were rushed out the door in the final days of the Biden administration.

    After a thorough review of the project’s financials, DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting this project. To ensure more responsible stewardship of taxpayer resources, DOE has terminated its conditional commitment.

    DOE is conducting a review of every applicant and borrower – including the nearly $100 billion in closed loans and conditional commitments LPO made between Election Day 2024 to Inauguration Day 2025 – to ensure every single taxpayer dollar is being used to advance the best interest of the American people. This ongoing review positions LPO to move forward with a lower risk tolerance in lending practices and an uncompromising focus on expanding access to affordable, reliable and secure energy for the American people.

    DOE remains focused on advancing projects that expand American energy dominance and deliver on President Trump’s commitment to lower energy prices for the American people.

    Asa Reynolds Named Winner of the U.S. Department of Energy’s 2025 CyberForce® Conquer the Hill® Reign Competition

    MIL OSI USA News –

  • MIL-OSI: EXL Recognized as Market Leader by Everest Group in its Group Life Insurance and Benefits Core Technology Products PEAK Matrix® Assessment 2025 – North America

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a global data and AI company, has been recognized by Everest Group as a Leader and Star Performer in the Group Life Insurance and Benefits Core Technology Products PEAK Matrix® Assessment 2025 – North America.

    The Everest Group report evaluated 15 leading providers of life insurance and benefits technology on their delivery of cloud-native infrastructure, advanced analytics, and configurable core systems that address the unique complexities of group life and benefits administration to their respective clients. EXL was recognized as a Leader for its deep domain expertise, growing library of automation and AI tools tailored for group life operations, and its ability to modernize large-scale platforms through analytic-driven insights.

    “EXL brings deep domain expertise and digital capability to the group insurance administration space, underpinned by its integrated technology and operations model on the LifePRO™ platform,” said Vigitesh Tewary, practice director at Everest Group. “Its ability to streamline administration and enhance service levels is further strengthened by proprietary assets such as MedConnection™, which support intelligent workflow processing, case management, and underwriting optimization. With modular capabilities across policy administration, billing, claims, and servicing, EXL aligns well with carriers operating in hybrid or multi-vendor ecosystems. The firm’s expanding suite of automation and AI-driven tools enables dynamic decisioning, real-time validations, and workflow automation tailored specifically for group life operations. These factors have contributed to its recognition as a Leader in Everest Group’s Group Life Insurance and Benefits Core Technology Products PEAK Matrix® Assessment 2025 – North America.”

    “The North American group life insurance industry is experiencing a rapid wave of digital transformation. As a result, clients are on the hunt for tools that will allow them to supercharge their quoting, underwriting, billing, and payout management capabilities,” said Vivek Jetley, president and head of insurance, healthcare, and life sciences, EXL. “We’re proud to receive this prestigious recognition from Everest Group and look forward to continuing to help our clients provide precise, tailored group life services to their clients.”

    To read more about the Everest Group 2025 report, click here for the custom version of the report. For more information about EXL’s insurance solutions, click here.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    Contacts
    Media
    Keith Little
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Crypto Analysts Say Bitcoin Swift Is Like Catching Bitcoin Before the First Halving

    Source: GlobeNewswire (MIL-OSI)

    LUXEMBOURG, July 23, 2025 (GLOBE NEWSWIRE) — In 2012, Bitcoin traded under $15, and mining was accessible to anyone with a decent CPU. Fast forward to today, and that window has long closed. But according to crypto analysts, Bitcoin Swift (BTC3) may be the closest modern-day equivalent. With its programmable Proof-of-Yield mining, live AI governance, and a fully functioning smart contract ecosystem, BTC3 is giving investors and developers a second shot at what early Bitcoin once offered: active participation, long-term upside, and immediate earnings.

    The Bitcoin Swift presale launched on July 14 and is gaining momentum fast. Stage 1 offers a $1.00 entry price, with the next stage rising to $2.00 and a $15.00 launch price. Stage 1 APY is 143%, with rewards issued at the end of each presale stage through smart contracts. With only 62 days total, Bitcoin Swift is delivering early access and real utility from day one. You can learn more through Bitcoin Swift.

    A Presale That Pays and Evolves at the Same Time

    Bitcoin Swift doesn’t just sell tokens. It activates programmable mining from day one. Each presale stage ends with a distribution of mining rewards based on the network’s adaptive Proof-of-Yield model. That model tracks real-time usage, carbon efficiency, and validator contributions, then adjusts emissions accordingly.

    AI oracles collect these metrics and feed them directly into the protocol. This enables the network to automatically reward clean energy miners and penalize inefficient activity. Rewards are executed through automated smart contracts, making payouts transparent, trackable, and resistant to manipulation. The reward logic is backed by verified audits including Spywolf and Solidproof, both of which confirm the accuracy and security of BTC3’s programmable systems.

    Bitcoin Swift emphasized investor confidence by completing KYC identity verification, reinforcing its commitment to transparent and ethical practices.

    Dual-Engine Architecture That Locks Down Security

    BTC3 is built on a hybrid consensus model. It combines Proof-of-Work mining with Proof-of-Stake validation. While miners generate SHA-256 blocks, validators finalize checkpoints every 100 blocks, locking in the state of the chain and executing governance decisions.

    This structure provides the brute force security of PoW and the adaptive scalability of PoS. Validators handle DID verification, oracle approvals, and policy enforcement, while miners maintain the network’s operational integrity.

    These operations run on a WASM-compatible smart contract engine embedded with AI agents. Unlike static code, these agents evolve based on user interaction, governance inputs, and environmental data. That makes BTC3 one of the only chains with autonomous contract behavior that adjusts itself based on system health.

    BTC3’s AI oracles support everything from miner reputation scoring to validator uptime and risk modeling. Combined with zk-SNARK layers for private transactions and verifiable credentials, Bitcoin Swift delivers a blend of utility, compliance, and privacy that most first-generation chains never achieved.

    Reputation-Based Governance That Resists Exploitation

    Bitcoin Swift’s governance system avoids the classic failure of one-token-one-vote. Instead, every proposal passes through an AI pre-screening engine and is then subjected to a quadratic voting model. Votes are weighted not just by holdings but by DID reputation scores.

    These scores measure user behavior over time, giving influence to those who contribute meaningfully. Proposal logic, reward parameters, emission schedules, and validator actions are all under this decentralized voting model. Even emergency powers are handled through an on-chain council that prevents gridlock or malicious capture.

    The system evolves through self-regulation. As the Telegram group grows and more users begin to participate in proposals, reputation scores shift. Governance becomes a tool of the many, not the few. And the protocol’s long-term viability grows with each new update voted on and finalized.

    Bitcoin Swift continues to attract attention from the crypto space, with more influencers recognizing its potential. A detailed breakdown from Crypto Nitro highlights why this project is earning serious praise.

    A Roadmap That’s Already Rolling

    Bitcoin Swift is delivering on its roadmap with speed and precision, not distant promises. Every phase adds real functionality while keeping the network’s reward system active. BTC3 continues to evolve while users earn, creating a cycle of growth and participation.

    Key milestones on Bitcoin Swift’s timeline:

    • Q3 2025: Launch of AI smart contract engine and reinforcement learning
    • Q2 2026: Deployment of zk-ledger privacy, shielded DeFi, and zkLogin for Web3 authentication
    • Q4 2026: Migration to native mainnet with a 1:1 trustless bridge from Solana
    • Integration of institutional audit systems and BTC3 stablecoin
    • AI governance simulators to model and test proposals before voting
    • Continuous Proof-of-Yield mining rewards throughout every phase

    Final Verdict

    Crypto veterans often ask, “What would you do if you could go back to 2012?” Bitcoin Swift offers a modern answer. It’s not just a cheap token. It’s a live ecosystem with AI at its core, programmable mining that pays instantly, and governance that evolves intelligently. With just 64 days in the presale and a working protocol already underway, BTC3 is the kind of opportunity people talk about for years. This time, you don’t have to watch from the sidelines.

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

    Contact:
    Luc Schaus
    support@bitcoinswift.com

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

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

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/91083ef5-eabc-4c20-aede-8c0ac08aab38

    https://www.globenewswire.com/NewsRoom/AttachmentNg/16a8f08a-213b-4a5b-9d59-4ceedf7f3b47

    https://www.globenewswire.com/NewsRoom/AttachmentNg/20b6a748-3261-460b-b11b-90f7370c6844

    The MIL Network –

  • MIL-OSI: Juniata Valley Financial Corp. Announces Results for the Quarter Ended June 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    Mifflintown, PA, July 23, 2025 (GLOBE NEWSWIRE) — Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), announced net income for the three months ended June 30, 2025 of $1.9 million, an increase of 9.5% compared to net income of $1.7 million for the three months ended June 30, 2024. Earnings per share, basic and diluted, increased 8.6%, to $0.38, during the three months ended June 30, 2025, compared to $0.35 during the three months ended June 30, 2024. Net income was $3.9 million for the six months ended June 30, 2025, an increase of 26.4% compared to net income of $3.1 million for the six months ended June 30, 2024. Earnings per share, basic and diluted, increased 25.8%, to $0.78, during the six months ended June 30, 2025, compared to $0.62 during the six months ended June 30, 2024.

    President’s Message

    President and Chief Executive Officer, Marcie A. Barber stated, “We are pleased to announce second quarter net income of $1.9 million which represents a 9.5% increase over the same quarter last year and a year-to-date net income increase of 26.4% compared to the first six months last year. These improvements are due primarily to disciplined loan and deposit pricing and healthy loan growth. Our credit quality remains strong with nonperforming loans totaling 0.1% of the total loan portfolio and delinquent and nonperforming loans comprising 0.3% of the portfolio. We anticipate continued strong loan activity throughout the remainder of 2025, which would be expected to contribute to the positive trend in our net interest margin.”     

    Financial Results Year-to-Date

    Annualized return on average assets for the six months ended June 30, 2025 was 0.92%, an increase of 27.8% compared to the annualized return on average assets of 0.72% for the six months ended June 30, 2024. Annualized return on average equity for the six months ended June 30, 2025 was 15.76%, an increase of 4.1% compared to the annualized return on average equity of 15.14% for the six months ended June 30, 2024.

    Net interest income was $12.0 million during the six months ended June 30, 2025 compared to $11.3 million during the comparable 2024 period. Average earning assets decreased $11.6 million, or 1.3%, to $846.3 million, during the six months ended June 30, 2025 compared to the same period in 2024, due primarily to a decrease of $18.2 million, or 5.8%, in average investment securities as principal paydowns on the mortgage-backed securities portfolio were used for funding needs rather than being reinvested into the securities portfolio. This decline was partially offset by a $7.9 million, or 1.5%, increase in average loans over the same six month periods. Average interest bearing liabilities decreased by $13.6 million, or 2.2%, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. This decrease was primarily due to a decline of $26.0 million, or 33.9%, in average borrowings and other interest bearing liabilities, which was partially offset by an increase in average time deposits of $16.2 million, or 8.0%, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

    The yield on earning assets increased 17 basis points, to 4.46%, for the six months ended June 30, 2025 compared to same period last year driven by an increase in loan yields of 18 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased three basis points, to 2.24%. The net interest margin, on a fully tax equivalent basis, increased from 2.68% for the six months ended June 30, 2024 to 2.89% for the six months ended June 30, 2025.

    Juniata recorded a provision for credit losses of $453,000 in the six months ended June 30, 2025 compared to a provision for credit losses of $239,000 in the six months ended June 30, 2024. The increase in the provision for credit losses between six month periods was primarily due to 4.2% growth in total loans in 2025.

    Non-interest income was $2.8 million during both the six months ended June 30, 2025 and June 30, 2024. Most significantly impacting the comparative six month periods was an increase of $99,000 in customer service fees in the 2025 period, which was offset by decreases of $75,000 in fees derived from loan activity primarily due to a decline in title insurance commissions, as well as $41,000 in commissions from sales of non-deposit products in the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

    Non-interest expense was $9.8 million during the six months ended June 30, 2025 compared to $10.3 million during the six months ended June 30, 2024, a decrease of 4.9%. Most significantly impacting non-interest expense in the comparative six month periods were decreases in employee compensation and benefits expenses of $367,000 and $130,000, respectively. The primary drivers for these declines were decreases in employee salary expenses compared to the 2024 period, with the 2024 expenses having been elevated due to overtime pay from the 2024 core conversion and actions taken to optimize staffing levels, and employee benefits expense due to a decrease in medical claims expenses for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. Also contributing to the decrease in non-interest expense between the comparative six month periods was a decrease of $80,000 in professional fees. These decreases were partially offset by an increase of $91,000 in equipment expense primarily due to an increase in office depreciation expenses.

    An income tax provision of $700,000 was recorded during the six months ended June 30, 2025 compared to an income tax provision of $497,000 recorded during the six months ended June 30, 2024, due primarily to the increase in taxable income in the 2025 period.

    Financial Results for the Quarter

    Annualized return on average assets for the three months ended June 30, 2025 was 0.89%, an increase of 9.9%, compared to 0.81% for the three months ended June 30, 2024. Annualized return on average equity for the three months ended June 30, 2025 was 15.01%, a decrease of 8.4%, compared to 16.38% for the three months ended June 30, 2024.

    Net interest income was $6.2 million for the three months ended June 30, 2025 compared to $5.8 million for the three months ended June 30, 2024. Average interest earning assets decreased 1.0%, to $849.8 million, for the three months ended June 30, 2025 compared to the same period in 2024, due to a decrease of $18.3 million, or 5.8%, in average investment securities, which was partially offset by an $11.2 million, or 2.1%, increase in average loans. Average interest bearing liabilities decreased by $11.3 million, or 1.8%, for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. This decrease was primarily due to a decline of $28.1 million, or 38.1%, in average borrowings and other interest bearing liabilities, which was partially offset by increases in average interest bearing demand and time deposits of $4.9 million, or 2.4%, and $14.9 million, or 7.3%, respectively, for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

    The yield on earning assets increased 14 basis points, to 4.50%, for the three months ended June 30, 2025 compared to same period last year, driven by an increase in loan yields of 11 basis points, while the cost to fund interest earning assets with interest bearing liabilities decreased eight basis points, to 2.21%. The net interest margin, on a fully tax equivalent basis, increased from 2.73% for the three months ended June 30, 2024 to 2.95% for the three months ended June 30, 2025.

    Juniata recorded a provision for credit losses of $349,000 for the three months ended June 30, 2025 compared to a provision for credit losses of $119,000 for the three months ended June 30, 2024. The increase in the provision for credit losses between three month periods was primarily due to growth in outstanding loans in the 2025 period.

    Non-interest income was $1.5 million for both the three months ended June 30, 2025 and June 30, 2024. Most significantly impacting non-interest income in the comparative three month periods were decreases of $40,000 in commissions from sales of non-deposit products and $32,000 in trust fees. Partially offsetting these declines were increases of $31,000 in the change in value of equity securities and $44,000 in other non-interest income primarily due to recording an IRS refund on an amended tax return and an increase in online banking fees in the three months ended June 30, 2025 compared the three months ended June 30, 2024.

    Non-interest expense was $5.1 million for both the three months ended June 30, 2025 and June 30, 2024. Most significantly impacting non-interest expense in the comparative three month periods was a decrease of $134,000 in employee compensation expense, due primarily to the 2024 expenses having been elevated due to overtime pay from the 2024 core conversion and actions taken to optimize staffing levels. Partially offsetting this decline were increases of $57,000 in taxes, other than income, due to an increase in Pennsylvania Shares Tax expense and $176,000 in other non-interest expense due primarily to an increase in the provision for unfunded commitments in the three months ended June 30, 2025.

    An income tax provision of $329,000 was recorded during the three months ended June 30, 2025 compared to an income tax provision of $296,000 recorded during the three months ended June 30, 2024, primarily due to greater taxable income in the 2025 period.

    Financial Condition

    Total assets as of June 30, 2025 were $866.4 million, an increase of $17.6 million, or 2.1%, compared to total assets of $848.9 million at December 31, 2024. Cash and cash equivalents increased by $1.1 million, or 10.1%, as of June 30, 2025 compared to December 31, 2024, while total debt and equity securities decreased by $4.9 million, or 1.9%, over the same period as cash flows were used for funding needs rather than reinvested into the investment portfolio. Total loans increased by $22.5 million, or 4.2%, as of June 30, 2025 compared to year-end 2024 mainly due to an increase in commercial loans. Total deposits increased by $11.4 million, or 1.5%, as of June 30, 2025 compared to December 31, 2024 due to an increase in interest bearing deposits. Short-term borrowings and repurchase agreements increased by $7.5 million, or 17.7%, as of June 30, 2025 compared to year-end 2024 primarily due to an increase in overnight borrowings, which were used to replace a FHLB long-term advance that matured in June 2025, resulting in the $5.0 million, or 100.0%, decline in long-term debt between comparative periods.

    Juniata maintained a strong liquidity position as of June 30, 2025, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $203.9 million and $50.7 million in additional borrowing capacity from the Federal Reserve’s Discount Window. In addition, Juniata has internal authorization for brokered deposits of up to $175.0 million. Juniata had no brokered deposits outstanding as of June 30, 2025.

    Subsequent Event

    On July 15, 2025, the Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on August 18, 2025, payable on September 1, 2025.

    Management considers subsequent events occurring after the statement of condition date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements with the Securities and Exchange Commission. Accordingly, the financial information in this release is subject to change.

    The Juniata Valley Bank, the principal subsidiary of Juniata Valley Financial Corp., is headquartered in Mifflintown, Pennsylvania, with fourteen community offices located in Juniata, Mifflin, Perry, Franklin, McKean and Potter Counties. More information regarding Juniata Valley Financial Corp. and The Juniata Valley Bank can be found online at www.JVBonline.com. Juniata Valley Financial Corp. trades through the OTCQX Best Market under the symbol JUVF.

    Forward-Looking Information

    *This press release may contain “forward looking” information as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the current views of Juniata’s management with respect to, among other things, future events and Juniata’s financial performance. When words such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or similar expressions are used in this release, Juniata is making forward-looking statements. Such information is based on Juniata’s current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business, many of which, by their nature, are inherently uncertain and beyond the control of Juniata. These statements are not historical facts or guarantees of future performance, events or results and are subject to risks, assumptions and uncertainties that are difficult to predict. If one or more events related to these or other risks or uncertainties materializes, or if underlying assumptions prove to be incorrect, actual results may differ materially from this forward-looking information. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and many factors could affect future financial results. Juniata undertakes no obligation to publicly update or revise forward looking information, whether because of new or updated information, future events, or otherwise. For a more complete discussion of certain risks and uncertainties affecting Juniata, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” set forth in the Juniata’s filings with the Securities and Exchange Commission.

    Financial Statements

    Juniata Valley Financial Corp. and Subsidiary
    Consolidated Statements of Financial Condition

                 
    (Dollars in thousands, except share data)      (Unaudited)       
        June 30, 2025   December 31, 2024
    ASSETS            
    Cash and due from banks   $ 4,874     $ 5,064  
    Interest bearing deposits with banks     7,237       5,934  
    Cash and cash equivalents     12,111       10,998  
                 
    Equity securities     1,154       1,189  
    Debt securities available for sale     64,231       64,623  
    Debt securities held to maturity (fair value $182,845 and $182,773, respectively)     187,174       191,627  
    Restricted investment in bank stock     2,283       2,530  
    Total loans     556,319       533,869  
    Less: Allowance for credit losses     (6,622 )     (6,183 )
    Total loans, net of allowance for credit losses     549,697       527,686  
    Premises and equipment, net     9,177       9,382  
    Bank owned life insurance and annuities     16,009       15,214  
    Investment in low income housing partnerships     671       832  
    Core deposit and other intangible assets     223       258  
    Goodwill     9,812       9,812  
    Mortgage servicing rights     65       69  
    Deferred tax asset, net     9,004       9,842  
    Accrued interest receivable and other assets     4,823       4,812  
    Total assets   $ 866,434     $ 848,874  
    LIABILITIES AND STOCKHOLDERS’ EQUITY              
    Liabilities:              
    Deposits:              
    Non-interest bearing   $ 192,629     $ 196,801  
    Interest bearing     566,678       551,156  
    Total deposits     759,307       747,957  
                 
    Short-term borrowings and repurchase agreements     49,720       42,242  
    Long-term debt     —       5,000  
    Other interest bearing liabilities     776       830  
    Accrued interest payable and other liabilities     4,250       5,388  
    Total liabilities     814,053       801,417  
    Commitments and contingent liabilities            
    Stockholders’ Equity:              
    Preferred stock, no par value: Authorized – 500,000 shares, none issued     —       —  
    Common stock, par value $1.00 per share: Authorized 20,000,000 shares; Issued – 5,151,279 shares at June 30, 2025 and December 31, 2024; Outstanding – 5,018,799 shares at June 30, 2025 and 5,003,384 shares at December 31, 2024     5,151       5,151  
    Surplus     24,741       24,896  
    Retained earnings     54,840       53,126  
    Accumulated other comprehensive loss     (30,211 )     (33,320 )
    Cost of common stock in Treasury: 132,480 shares at June 30, 2025; 147,895 shares at December 31, 2024     (2,140 )     (2,396 )
    Total stockholders’ equity     52,381       47,457  
    Total liabilities and stockholders’ equity   $ 866,434     $ 848,874  

    Juniata Valley Financial Corp. and Subsidiary
    Consolidated Statements of Income (Unaudited)

                             
        Three Months Ended   Six Months Ended
    (Dollars in thousands, except share and per share data)   June 30,    June 30, 
           2025      2024   2025      2024  
    Interest income:                
    Loans, including fees   $ 8,112   $ 7,778   $ 15,893   $ 15,245  
    Taxable securities     1,372     1,455     2,737     2,920  
    Tax-exempt securities     30     29     60     59  
    Other interest income     20     49     37     92  
    Total interest income     9,534     9,311     18,727     18,316  
    Interest expense:                            
    Deposits     2,889     2,722     5,692     5,364  
    Short-term borrowings and repurchase agreements     440     712     971     1,410  
    Long-term debt     21     89     51     206  
    Other interest bearing liabilities     7     8     14     17  
    Total interest expense     3,357     3,531     6,728     6,997  
    Net interest income     6,177     5,780     11,999     11,319  
    Provision for credit losses     349     119     453     239  
    Net interest income after provision for credit losses     5,828     5,661     11,546     11,080  
    Non-interest income:                            
    Customer service fees     466     456     926     827  
    Debit card fee income     450     470     872     874  
    Earnings on bank-owned life insurance and annuities     62     58     119     114  
    Trust fees     112     144     243     251  
    Commissions from sales of non-deposit products     69     109     170     211  
    Fees derived from loan activity     158     177     273     348  
    Change in value of equity securities     40     9     12     (4 )
    Gain from life insurance proceeds     20     —     20     —  
    Other non-interest income     100     56     188     154  
    Total non-interest income     1,477     1,479     2,823     2,775  
    Non-interest expense:                            
    Employee compensation expense     2,098     2,232     4,073     4,440  
    Employee benefits     502     533     1,048     1,178  
    Occupancy     301     327     667     659  
    Equipment     243     226     460     369  
    Data processing expense     778     815     1,407     1,478  
    Professional fees     247     279     453     533  
    Taxes, other than income     95     38     126     94  
    FDIC Insurance premiums     119     139     254     294  
    Amortization of intangible assets     17     20     35     42  
    Amortization of investment in low-income housing partnerships     80     80     161     161  
    Other non-interest expense     585     409     1,066     1,009  
    Total non-interest expense     5,065     5,098     9,750     10,257  
    Income before income taxes     2,240     2,042     4,619     3,598  
    Income tax provision     329     296     700     497  
    Net income   $ 1,911   $ 1,746   $ 3,919   $ 3,101  
    Earnings per share                            
    Basic   $ 0.38   $ 0.35   $ 0.78   $ 0.62  
    Diluted   $ 0.38   $ 0.35   $ 0.78   $ 0.62  

    The MIL Network –

  • Skill development drive under PMKVY sees over 20 lakh youth trained in FY 2024-25

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Skill Development and Entrepreneurship (MSDE) has reported notable progress under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), with over 20 lakh candidates trained in the financial year 2024-25 alone. The flagship scheme, launched in 2015, aims to equip India’s youth with skill development through Short-Term Training (STT) and Recognition of Prior Learning (RPL) initiatives.

    Over the last five financial years, a cumulative effort across States and Union Territories has contributed to a significant rise in skilled manpower. Uttar Pradesh led the training numbers in FY 2024-25, with more than 4.63 lakh individuals trained, followed by Rajasthan with 2.79 lakh and Madhya Pradesh with over 2.58 lakh trainees.

    Placement tracking under PMKVY was actively carried out during its first three phases-PMKVY 1.0, 2.0, and 3.0-covering the period from 2015-16 to 2021-22. As per official data, the placement rate of candidates certified under the STT component during these phases stood at 43%. Under the current phase, PMKVY 4.0, the emphasis has shifted towards empowering candidates to make informed choices in their career paths with necessary orientation support.

    Third-party evaluations have reaffirmed the scheme’s impact. A study by Sambodhi Research and Communications found that individuals trained and certified under PMKVY 2.0 earned 15 percent more, on average, than their counterparts who had not participated in the scheme. RPL-certified individuals reported a 19 percent higher monthly income when compared to those without certification.

    Further, a study conducted by NITI Aayog in October 2020 revealed that 94 percent of employers surveyed expressed willingness to hire more PMKVY-trained candidates. Additionally, the Indian Institute of Public Administration (IIPA), in its impact evaluation, found that about 70.5 percent of surveyed trainees secured jobs in their desired skill sectors. Over half of the candidates trained under RPL also reported receiving or expecting better salaries than their untrained peers.

    To enhance employment opportunities under PMKVY 4.0, the Skill India Digital Hub (SIDH) has been launched. This integrated platform provides a unified digital space connecting the skilling, education, employment, and entrepreneurship ecosystems. Job seekers can access career opportunities and apprenticeships, while employers can tap into a database of trained candidates. Rozgar Melas are also being organized across the country to facilitate direct engagement between employers and job aspirants.

    This information was shared in a written reply by the Minister of State (Independent Charge) for the Ministry of Skill Development and Entrepreneurship, Jayant Chaudhary, in the Rajya Sabha.

  • MIL-OSI: Diane Davis Appointed to Boards of First Fed and First Northwest Bancorp

    Source: GlobeNewswire (MIL-OSI)

    PORT ANGELES, Wash., July 23, 2025 (GLOBE NEWSWIRE) — First Northwest Bancorp (NASDAQ: FNWB), the holding company for First Fed Bank, announced the appointment of Diane C. Davis to the Boards of Directors of both First Fed Bank and First Northwest Bancorp.

    Ms. Davis brings more than 25 years of leadership experience in the insurance industry, with expertise in executive management, strategy, risk management, and corporate governance. Further, Diane is an experienced community bank board member, having served on the board of First Financial Northwest Bancorp, which was acquired earlier this year.

    “Diane’s extensive experience in risk oversight and executive leadership will be a tremendous asset to our organization as we continue to grow and serve our communities,” said Geri Bullard, Interim CEO of First Fed. “Her proven expertise in strategy and governance aligns with our long-term goals, and we are excited to welcome her to the Board.”

    “Community banks play a vital role in building strong, resilient local economies, and I’m deeply passionate about supporting that mission. I’m honored to join First Fed’s board and work alongside its dedicated executive team and fellow board members,” said Diane Davis.

    Ms. Davis began her career at Farmers New World Life Insurance Company in 1992 and advanced through a variety of leadership roles, including Chief Risk Officer and ultimately President from 2016 until her retirement in 2019. She also served as Regional Chief Risk Officer for Global Life North America at Zurich Insurance Company Ltd., bringing broad actuarial and strategic planning experience to her board role.

    She holds a Bachelor of Science in Actuarial Science from the University of Illinois at Urbana-Champaign and a Master of Business Administration from the University of Washington. A Fellow of the Society of Actuaries, Ms. Davis currently serves as co-chair of 5050 Women on Boards of Greater Seattle and is a former member of the Board of Directors for Habitat for Humanity Seattle-King County.

    Her appointment reflects First Fed’s ongoing commitment to strong governance, sustainable growth, and long-term financial security for its customers and communities.

    About FNWB

    First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently, First Fed has 18 locations in Washington State including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. First Fed is headquartered in Port Angeles, Washington.

    First Fed Bank was recognized by Puget Sound Business Journal as a Best Workplace in 2023 and top Corporate Philanthropist in 2023 and 2024. By popular vote, First Fed received 2024 awards for Best Bank and Best Lender in Best of the Peninsula for Clallam County. First Fed is a Member FDIC and equal housing lender.

    Geri Bullard, Interim CEO / Chief Operating Officer
    First Fed 105 W. Eight Street
    Port Angeles, WA 98362
    360-565-8556

    The MIL Network –

  • MIL-OSI: Greene County Bancorp, Inc. Reports Record High Net Income of $31.1 Million for the Fiscal Year Ended June 30, 2025, Announces Plans to Expand into Saratoga County

    Source: GlobeNewswire (MIL-OSI)

    CATSKILL, N.Y., July 23, 2025 (GLOBE NEWSWIRE) — Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the quarter and fiscal year ended June 30, 2025. Net income for the quarter and fiscal year ended June 30, 2025 was $9.3 million, or $0.55 per basic and diluted share, and $31.1 million, or $1.83 per basic and diluted share, respectively, as compared to $6.7 million, or $0.40 per basic and diluted share, and $24.8 million, or $1.45 per basic and diluted share, for the quarter and fiscal year ended June 30, 2024, respectively. Net income increased $2.6 million, or 38.6%, when comparing the quarters ended June 30, 2025 and 2024, and increased $6.3 million, or 25.7%, when comparing the fiscal years ended June 30, 2025 and 2024.

    Highlights:

    • Net Income: $31.1 million for the fiscal year ended June 30, 2025, a new record high
    • Total Assets: $3.0 billion at June 30, 2025, a new record high
    • Net Loans: $1.6 billion at June 30, 2025, a new record high
    • Total Deposits: $2.6 billion at June 30, 2025
    • Return on Average Assets: 1.10% for the fiscal year ended June 30, 2025
    • Return on Average Equity: 14.08% for the fiscal year ended June 30, 2025

    Donald Gibson, President & CEO, stated: “I am pleased to report record high net income for the fiscal year ended June 30, 2025, marking 16 years of the past 17 years that our Company has achieved record earnings. This sustained performance is a testament to our disciplined business model, strong community partnerships and exceptional execution of our team. As we look ahead, we are excited to announce plans to expand into Saratoga County with our first branch in that market area, expanding our geographic footprint from five to six counties within New York State, and further strengthening our position as the leading economic engine of the communities we serve. Additionally, we are honored to be recognized by the Albany Business Review, first as one of the Capital Regions 11 fastest growing large companies, defined as those with revenue exceeding $100.0 million, and second, on July 17, 2025, we ranked as the number one commercial mortgage lender in New York’s Capital Region for commercial loan volume in 2024. I believe the distinction reflects our financial strength and our long-term commitment to organic growth that benefits customers, communities and shareholders alike.”

    Total consolidated assets for the Company were $3.0 billion at June 30, 2025, primarily consisting of $1.6 billion of net loans and $1.1 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.6 billion at June 30, 2025, consisting of retail, business, municipal and private banking relationships.

    Pre-provision net income was $32.5 million for the year ended June 30, 2025 as compared to $25.5 million for the year ended June 30, 2024, an increase of $7.0 million, or 27.1%. Pre-provision net income measures the Company’s net income less the provision for credit losses. Management believes that this non-GAAP measure assists investors in comprehending the impact of the provision for credit losses on the Company’s reported results, offering an alternative view of the Company’s performance and the Company’s ability to generate income in excess of its provision for credit losses. The Company strategically managed its balance sheet by focusing on higher-yielding loans and securities, and lowering deposit rates to align with the Federal Reserve’s recent interest rate cuts. This resulted in a higher net interest margin for the year ended June 30, 2025 as compared to the year ended June 30, 2024. The Company will continue to monitor the Federal Reserve and interest rates paid on deposits, while maintaining our long-term customer relationships.

    Selected highlights for the quarter and fiscal year ended June 30, 2025 are as follows:

    Net Interest Income and Margin

    • Net interest income increased $3.8 million to $16.7 million for the three months ended June 30, 2025 from $12.9 million for the three months ended June 30, 2024. Net interest income increased $9.1 million to $60.1 million for the year ended June 30, 2025 from $51.0 million for the year ended June 30, 2024. The increase in net interest income was due to an increase in the average balance of interest-earning assets which increased $219.0 million and $170.7 million when comparing the three months and years ended June 30, 2025 and 2024, respectively, an increase in interest rates on interest-earning assets, which increased 16 basis points and 26 basis points when comparing the three months and years ended June 30, 2025 and 2024, respectively, and a decrease of 26 basis points in rates paid on interest-bearing liabilities when comparing the three months ended June 30, 2025 and 2024. The increase in net interest income was offset by increases in the average balance of interest-bearing liabilities, which increased $203.4 million and $168.3 million when comparing the three months and years ended June 30, 2025 and 2024, respectively, and an increase of 4 basis points in rates paid on interest-bearing liabilities when comparing the years ended June 30, 2025 and 2024.

      Average loan balances increased $145.9 million and $96.6 million and the yield on loans increased 18 basis points and 23 basis points when comparing the three months and years ended June 30, 2025 and 2024, respectively. The average balance of securities increased $87.0 million and $79.1 million and the yield on such securities increased 24 basis points and 36 basis points when comparing the three months and years ended June 30, 2025 and 2024, respectively. Average interest-bearing bank balances and federal funds decreased $13.8 million and $5.0 million and the yield on interest-bearing bank balances and federal funds decreased 172 basis points and 36 basis points when comparing the three months and years ended June 30, 2025 and 2024, respectively.

      The cost of NOW deposits decreased 34 basis points and 2 basis points, the cost of certificates of deposit decreased 81 basis points and 21 basis points, and the cost of savings and money market deposits decreased 1 basis point and increased 7 basis points when comparing the three months and years ended June 30, 2025 and 2024, respectively. The growth in interest-bearing liabilities was primarily due to an increase in average NOW deposits of $178.0 million and $135.1 million and an increase in average certificates of deposits of $75.0 million and $62.7 million when comparing the three months and years ended June 30, 2025 and 2024, respectively. This was partially offset by a decrease in average savings and money market deposits of $15.0 million and $22.8 million when comparing the three months and years ended June 30, 2025 and 2024, respectively. Yields on interest-earning assets increased when comparing the three months and years ended June 30, 2025 and 2024 as the Company continued to reprice assets into the higher interest rate environment. During the year ended June 30, 2025, the Company implemented a strategic reduction in deposit rates that aligns with the Federal Reserve’s rate cuts, while providing competitive financial solutions to the Company’s customers that reflect the prevailing economic conditions, while growing new relationships.

    • Net interest rate spread increased 42 basis points to 2.14% for the three months ended June 30, 2025, compared to 1.72% for the three months ended June 30, 2024. Net interest rate spread increased 22 basis points to 1.97% for the year ended June 30, 2025, compared to 1.75% for the year ended June 30, 2024.
      Net interest margin increased 40 basis points to 2.37% for the three months ended June 30, 2025, compared to 1.97% for the three months ended June 30, 2024. Net interest margin increased 21 basis points to 2.19% for the year ended June 30, 2025, compared to 1.98% for the year ended June 30, 2024. The increase in net interest rate spread and margin during the three months and year ended June 30, 2025, was due to increases in interest income on loans and securities, as they continue to reprice at higher yields and the interest rates earned on new balances were higher than the historic low levels from the prior periods.
    • Net interest income on a taxable-equivalent basis includes the additional amount of interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. Tax equivalent net interest margin was 2.67% and 2.24% for the three months ended June 30, 2025 and 2024, respectively, and was 2.47% and 2.25% for the years ended June 30, 2025 and 2024, respectively.

    Credit Quality and Provision for Credit Losses

    • Provision for credit losses amounted to a benefit of $880,000 and $151,000 for the three months ended June 30, 2025 and 2024, respectively. The benefit for the three months ended June 30, 2025 was primarily attributable to an improvement in the qualitative factors assessments on loans, partially offset by a modest deterioration in the economic forecasts used in the Current Expected Credit Loss models on loans as of June 30, 2025, and growth in securities held-to-maturity that require an allowance. Provision for credit losses amounted to a charge of $1.3 million and $766,000 for the years ended June 30, 2025 and 2024, respectively. The provision for the year ended June 30, 2025, was primarily attributable to growth in gross loans, a modest deterioration in the economic forecasts used in the Current Expected Credit Loss models on loans as of June 30, 2025 and growth in securities held-to-maturity that require an allowance, partially offset by an improvement in the qualitative factors assessments on loans. The allowance for credit losses on loans to total loans receivable was 1.24% at June 30, 2025 compared to 1.28% at June 30, 2024.
    • Loans classified as substandard and special mention totaled $45.4 million at June 30, 2025 and $48.6 million at June 30, 2024, a decrease of $3.2 million. Of the loans classified as substandard or special mention, $42.1 million were performing at June 30, 2025. There were no loans classified as doubtful or loss at June 30, 2025 or June 30, 2024.
    • Net charge-offs on loans amounted to $44,000 and $1.0 million for the three months ended June 30, 2025 and 2024, respectively, a decrease of $956,000. Net charge-offs totaled $349,000 and $1.4 million for years ended June 30, 2025 and 2024, respectively. There were no material charge-offs in any loan segment during the three months and year ended June 30, 2025.
    • Nonperforming loans amounted to $3.1 million at June 30, 2025 and $3.7 million at June 30, 2024. The activity in nonperforming loans during the period included $2.6 million in loan repayments, $128,000 in charge-offs or transfers to foreclosure, $67,000 in loans returning to performing status, and $2.1 million of loans placed into nonperforming status. At June 30, 2025, nonperforming assets were 0.10% of total assets compared to 0.13% at June 30, 2024. At June 30, 2025, nonperforming loans were 0.19% of net loans compared to 0.25% at June 30, 2024.

    Noninterest Income and Noninterest Expense

    • Noninterest income increased $46,000, or 1.2%, to $3.8 million for the three months ended June 30, 2025 compared to $3.7 million for the three months ended June 30, 2024. The increase during the three months ended June 30, 2025 was primarily due to a $128,000 increase in fee income earned on customer interest rate swap contracts. This was partially offset by a $152,000 decrease of investment services income. Noninterest income increased $1.3 million, or 9.5%, to $15.2 million for the year ended June 30, 2025 compared to $13.9 million for the year ended June 30, 2024. The increase during the year ended June 30, 2025 was primarily due to a $610,000 Employee Retention Tax Credit, an increase in fee income earned on customer interest rate swap contracts of $528,000, loan fees of $242,000, service charge account fees of $235,000, and income from bank owned life insurance of $363,000. This was partially offset by a $665,000 loss on sales of securities available-for-sale.
    • Noninterest expense increased $497,000, or 5.0%, to $10.4 million for the three months ended June 30, 2025 compared to $9.9 million for the three months ended June 30, 2024. The increase during the three months ended June 30, 2025 was primarily due to a $204,000 increase in service and data processing fees and a $170,000 increase in computer and software supplies. Noninterest expense increased $2.1 million, or 5.6%, to $39.4 million for the year ended June 30, 2025 as compared to $37.3 million for the year ended June 30, 2024. The increase during the year ended June 30, 2025 was primarily due to an increase of $579,000 in salaries and employee benefit costs, as new positions were created during the period to support the Company’s continued growth, an increase of $544,000 in service and data processing fees, an increase of $796,000 in the allowance for credit losses on unfunded commitments, due to the Company’s increased contractual obligations to extend credit, and an increase of $183,000 in occupancy expenses mostly due to repairs and maintenance on the Company’s buildings. This was partially offset by a decrease of $164,000 in legal and professional fees during the year ended June 30, 2025.

    Income Taxes

    • Provision for income taxes reflects the expected tax associated with the pre-tax income generated for the given period and certain regulatory requirements. The effective tax rate was 14.8% and 10.2% for the three months and year ended June 30, 2025, and 1.4% and 7.6% for the three months and year ended June 30, 2024, respectively. The statutory tax rate is impacted by the benefits derived from tax-exempt bond and loan income, the Company’s real estate investment trust subsidiary income, income received on the bank owned life insurance and tax credits, to arrive at the effective tax rate. The increase during the three months and year ended June 30, 2025 is primarily due to higher pre-tax income and reflects a lower mix of tax-exempt income from municipal bonds, tax advantage loans, and bank owned life insurance in proportion to pre-tax income. Additionally, the Company was able to recognize historic preservation tax credits on the Company’s wealth management center, located at 345 Main Street, in Catskill New York for the year ended June 30, 2024.

    Balance Sheet Summary

    • Total assets of the Company were $3.0 billion at June 30, 2025 and $2.8 billion at June 30, 2024, an increase of $214.8 million, or 7.6%.
    • Total cash and cash equivalents for the Company were $183.1 million at June 30, 2025 and $190.4 million at June 30, 2024. The Company has continued to maintain strong capital and liquidity positions as of June 30, 2025.
    • Securities available-for-sale and held-to-maturity increased $91.9 million, or 8.8%, to $1.1 billion at June 30, 2025 as compared to $1.0 billion at June 30, 2024. Securities purchases totaled $444.2 million during the year ended June 30, 2025, and consisted primarily of $308.5 million of state and political subdivision securities, $88.4 million of mortgage-backed securities, $24.7 million of U.S. Treasury securities, $16.7 million of collateralized mortgage obligations, and $5.9 million of corporate debt securities. Principal pay-downs and maturities during the year ended June 30, 2025 amounted to $353.5 million, primarily consisting of $258.7 million of state and political subdivision securities, $58.0 million of U.S. Treasury securities, $32.7 million of mortgage-backed securities, $2.8 million of collateralized mortgage obligations and $1.3 million of corporate debt securities. Sales during the year ended June 30, 2025 amounted to $6.7 million of U.S. Treasury securities.
    • Net loans receivable increased $127.0 million, or 8.6%, to $1.6 billion at June 30, 2025 as compared to $1.5 billion at June 30, 2024. Loan growth experienced during the year ended June 30, 2025 consisted primarily of $117.9 million in commercial real estate loans, $5.5 million in commercial loans, and $4.9 million in home equity loans.
    • Deposits totaled $2.6 billion at June 30, 2025 and $2.4 billion at June 30, 2024, an increase of $250.6 million, or 10.5%. The Company had $51.6 million and zero brokered deposits at June 30, 2025 and June 30, 2024, respectively. NOW deposits increased $192.6 million, or 10.9%, and certificates of deposits increased $89.7 million, or 64.8%, when comparing June 30, 2025 and June 30, 2024. Noninterest bearing deposits decreased $15.3 million, or 12.2%, money market deposits decreased $10.5 million, or 9.3%, and savings deposits decreased $5.9 million, or 2.3%, when comparing June 30, 2025 and June 30, 2024.
    • Borrowings amounted to $128.1 million at June 30, 2025 compared to $199.1 million at June 30, 2024, a decrease of $71.0 million. At June 30, 2025, borrowings included $74.0 million of overnight borrowings with the Federal Home Loan Bank of New York (“FHLB”), $49.9 million of Fixed-to-Floating Rate Subordinated Notes, and $4.2 million of long-term borrowings with the FHLB.
    • Shareholders’ equity increased to $238.8 million at June 30, 2025 compared to $206.0 million at June 30, 2024, resulting primarily from net income of $31.1 million and a decrease in accumulated other comprehensive loss of $6.2 million, partially offset by dividends declared and paid of $4.5 million.

    Corporate Overview

    Greene County Bancorp, Inc. is the holding company for the Bank of Greene County, and its subsidiary Greene County Commercial Bank. The Company is the leading provider of community-based banking services throughout the Hudson Valley and Capital Region of New York State. Its customers include individuals, businesses, municipalities and other institutions. Greene County Bancorp, Inc. (GCBC) is publicly traded on the Nasdaq Capital Market and is dedicated to promoting economic development and a high quality of life in the communities it serves. For more information on Greene County Bancorp, Inc., visit www.tbogc.com.

    Forward-Looking Statements

    This earnings release contains statements about future events that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “will,” “should,” “could,” “plan,” and other similar terms of expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. These risks, uncertainties and other factors may cause the actual results, performance or achievements expressed in, or implied by, the forward-looking statements to differ materially from those contemplated by the forward-looking statements. Factors that may cause such a difference include, but are not limited to, local, regional, national and international general economic conditions, including actual or potential stress in the banking industry, financial and regulatory changes, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, changes in customer deposit behavior, and market acceptance of the Company’s pricing, products and services.

    The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterly reports previously filed with the Securities and Exchange Commission, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances for future periods to differ materially from those anticipated or projected.

    Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For more information, please see our reports filed with the United States Securities and Exchange Commission (“SEC”), including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q.

    Non-GAAP Measures

    In addition to presenting information in conformity with accounting principles generally accepted in the United States of America (GAAP), this news release contains financial information determined by methods other than GAAP (non-GAAP). The following measures used in this release, which are commonly utilized by financial institutions, have not been specifically exempted by the Securities and Exchange Commission (“SEC”) and may constitute “non-GAAP financial measures” within the meaning of the SEC’s rules.

    The Company has provided in this news release supplemental disclosures for the calculation of net interest margin utilizing a fully taxable-equivalent adjustment and pre-provision net income. Management believes that the non-GAAP financial measures disclosed by the Company from time to time are useful in evaluating the Company’s performance and that such information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Our non-GAAP financial measures may differ from similar measures presented by other companies. Refer to the tables on page 9 for Non-GAAP to GAAP reconciliations.

     
    Greene County Bancorp, Inc.
    Consolidated Statements of Income, and Selected Financial Ratios (Unaudited)
                               
      At or for the Three Months   At or for the Years
      Ended June 30,   Ended June 30,
    Dollars in thousands, except share and per share data   2025     2024       2025     2024  
    Interest income $ 30,739   $ 27,328     $ 117,705   $ 103,664  
    Interest expense   14,033     14,471       57,584     52,685  
    Net interest income   16,706     12,857       60,121     50,979  
    Provision for credit losses   (880 )   (151 )     1,316     766  
    Noninterest income   3,765     3,719       15,233     13,908  
    Noninterest expense   10,394     9,897       39,372     37,302  
    Income before taxes   10,957     6,830       34,666     26,819  
    Tax provision   1,624     98       3,528     2,050  
    Net income $ 9,333   $ 6,732     $ 31,138   $ 24,769  
             
    Basic and diluted EPS $ 0.55   $ 0.40     $ 1.83   $ 1.45  
    Weighted average shares outstanding   17,026,828     17,026,828       17,026,828     17,026,828  
    Dividends declared per share (4) $ 0.09   $ 0.08     $ 0.36   $ 0.32  
             
    Selected Financial Ratios        
    Return on average assets(1)   1.28 %   1.00 %     1.10 %   0.93 %
    Return on average equity(1)   15.98 %   13.36 %     14.08 %   12.87 %
    Net interest rate spread(1)   2.14 %   1.72 %     1.97 %   1.75 %
    Net interest margin(1)   2.37 %   1.97 %     2.19 %   1.98 %
    Fully taxable-equivalent net interest margin(2)   2.67 %   2.24 %     2.47 %   2.25 %
    Efficiency ratio(3)   50.77 %   59.71 %     52.25 %   57.49 %
    Non-performing assets to total assets       0.10 %   0.13 %
    Non-performing loans to net loans       0.19 %   0.25 %
    Allowance for credit losses on loans to non-performing loans       658.37 %   516.20 %
    Allowance for credit losses on loans to total loans       1.24 %   1.28 %
    Shareholders’ equity to total assets       7.85 %   7.29 %
    Dividend payout ratio(4)       19.67 %   22.07 %
    Actual dividends paid to net income(5)       14.37 %   13.08 %
    Book value per share     $ 14.03   $ 12.10  
           
    (1) Ratios are annualized when necessary.
    (2) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income.
    (3) The efficiency ratio has been calculated as noninterest expense divided by the sum of net interest income and noninterest income.
    (4) The dividend payout ratio has been calculated based on the dividends declared per share divided by basic earnings per share. No adjustments have been made to account for dividends waived by Greene County Bancorp, MHC (“MHC”), the Company’s majority shareholder, owning 54.1% of the shares outstanding.
    (5) Dividends declared divided by net income. The MHC waived its right to receive dividends declared during the three months ended June 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024, March 31, 2025 and June 30, 2025. Dividends declared during the three months ended September 30, 2023, September 30, 2024, and December 31, 2024 were paid to the MHC.
     
    Greene County Bancorp, Inc.
    Consolidated Statements of Financial Condition (Unaudited)
     
      At
    June 30, 2025    		   At
    June 30, 2024
    Dollars In thousands, except share data      
    Assets      
    Cash and due from banks $ 12,788     $ 13,897  
    Interest-bearing deposits   170,290       176,498  
    Total cash and cash equivalents   183,078       190,395  
           
    Long term certificate of deposit   1,425       2,831  
    Securities available-for-sale, at fair value   356,062       350,001  
    Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $548 and $483 at June 30, 2025 and June 30, 2024   776,147       690,354  
    Equity securities, at fair value   402       328  
    Federal Home Loan Bank stock, at cost   5,504       7,296  
           
    Loans receivable   1,627,406       1,499,473  
    Less: Allowance for credit losses on loans   (20,146 )     (19,244 )
    Net loans receivable   1,607,260       1,480,229  
           
    Premises and equipment, net   15,232       15,606  
    Bank owned life insurance   59,795       57,249  
    Accrued interest receivable   16,381       14,269  
    Prepaid expenses and other assets   19,323       17,230  
    Total assets $ 3,040,609     $ 2,825,788  
           
    Liabilities and shareholders’ equity      
    Noninterest bearing deposits $ 110,163     $ 125,442  
    Interest bearing deposits   2,529,672       2,263,780  
    Total deposits   2,639,835       2,389,222  
           
    Borrowings, short-term   74,000       115,300  
    Borrowings, long-term   4,189       34,156  
    Subordinated notes payable, net   49,867       49,681  
    Accrued expenses and other liabilities   33,881       31,429  
    Total liabilities   2,801,772       2,619,788  
    Total shareholders’ equity   238,837       206,000  
    Total liabilities and shareholders’ equity $ 3,040,609     $ 2,825,788  
    Common shares outstanding   17,026,828       17,026,828  
    Treasury shares   195,852       195,852  
           

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    Non-GAAP to GAAP Reconciliations

    The following table summarizes the adjustments made to arrive at the fully taxable-equivalent net interest margins.

      For the three months ended
    June 30,    		 For the years ended
    June 30,
    (Dollars in thousands)   2025     2024     2025     2024  
    Net interest income (GAAP) $ 16,706   $ 12,857   $ 60,121   $ 50,979  
    Tax-equivalent adjustment(1)   2,130     1,740     7,679     6,791  
    Net interest income-fully taxable-equivalent basis (non-GAAP) $ 18,836   $ 14,597   $ 67,800   $ 57,770  
             
    Average interest-earning assets (GAAP) $ 2,824,952   $ 2,605,966   $ 2,739,472   $ 2,568,756  
    Net interest margin-fully taxable-equivalent basis (non-GAAP)   2.67 %   2.24 %   2.47 %   2.25 %
                             

    (1) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. The rate used for this adjustment was 21% for federal income taxes for the three and twelve months ended June 30, 2025 and 2024, 4.44% for New York State income taxes for the three and twelve months ended June 30, 2025 and 2024.

    The following table summarizes the adjustments made to arrive at pre-provision net income.

      For the three months ended June 30,
    (Dollars in thousands)   2025     2024  
    Net income (GAAP) $ 9,333   $ 6,732  
    Provision for credit losses   (880 )   (151 )
    Pre-provision net income (non-GAAP) $ 8,453   $ 6,581  
      For the years ended June 30,
    (Dollars in thousands)   2025     2024  
    Net income (GAAP) $ 31,138   $ 24,769  
    Provision for credit losses   1,316     766  
    Pre-provision net income (non-GAAP) $ 32,454   $ 25,535  
                 

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    For Further Information Contact:
    Donald E. Gibson
    President & CEO
    (518) 943-2600
    donaldg@tbogc.com

    Nick Barzee
    SVP & CFO
    (518) 943-2600
    nickb@tbogc.com

     

    The MIL Network –

  • MIL-OSI Africa: Affluenz Magazine Unveils Commemorative Issue Spotlighting United Arab Emirates (UAE) Founding Father Sheikh Zayed, Noura Al Kaabi, and African Visionary Elvis Sepenya

    Source: APO

    Affluenz Magazine (www.Affluenz.com), International’s leading global luxury, leadership, and impact publication, has officially released its much-anticipated July/August 2025 issue — a special edition commemorating the 20th anniversary of the passing of His Highness Sheikh Zayed bin Sultan Al Nahyan, the Founding Father of the United Arab Emirates.

    This commemorative edition features a powerful trio of cover stories — spotlighting the enduring legacy of Sheikh Zayed, the cultural diplomacy of UAE’s Minister of State, Noura bint Mohammed Al Kaabi, and the entrepreneurial excellence of Elvis Sepenya, CEO of Skywise Group, one of Africa’s most innovative investment firms.

    This historic issue celebrates Sheikh Zayed’s vision of unity, progress, and inclusion — a legacy that continues to define the modern UAE. Affluenz Magazine delves into his leadership, values, and role in positioning the Emirates as a hub of diplomacy, innovation, and tolerance.

    Also on the cover is Noura Al Kaabi, a global advocate for cultural dialogue and creative economies. In her exclusive interview, she discusses the UAE’s mission to foster global cultural exchange and its investment in youth empowerment across the Arab world and Africa.

    Rounding out the trio is Elvis Sepenya, the young African magnate who has risen to prominence through Skywise Group’s diversified holdings in aviation, real estate, and tech. His story of resilience, reinvention, and corporate leadership offers inspiration for a new generation of African entrepreneurs.

    Beyond the covers, the issue features in-depth profiles on several influential leaders and institutions across Africa and the Middle East — from oil and gas executives and royalty to social innovators and philanthropists — all of whom are making measurable impact in their sectors and communities.

    Beyond its striking covers, the July/August 2025 edition of Affluenz Magazine delivers an enriching array of exclusive features and compelling interviews that spotlight transformative figures shaping Africa and the global stage.

    Among the celebrated personalities is Ameera Abraham, the trailblazing founder of The Nail Bar, who shares her journey in redefining luxury wellness and empowering a new wave of African beautypreneurs. Equally inspiring is Tonya Lawani, the formidable force behind SEAL Group, whose strategic leadership continues to drive innovation and empowerment across industries.

    Linda Turner, founder of Linda Hope Initiatives and CEO of Jat Holdings, exemplifies the powerful blend of business acumen and humanitarian spirit. With ventures spanning real estate, fashion, interior design, and hospitality, she personifies resilience and compassion, balancing her roles as a mother, wife, entrepreneur, and advocate—all grounded in her unwavering commitment to uplifting lives.

    Adunni Rinwa emerges as a beacon of integrity and innovation in Nigeria’s real estate sector. As founder and CEO of Rinwa Realty, she has revolutionized property investment and homeownership, raising the bar for transparency and delivery in the industry.

    The issue also features Hassan Imam, Managing Director of Keystone Bank, recognized for his strategic role in redefining digital banking and financial inclusion in Nigeria. From the UAE, Hussain Abdulrahman Khansaheb is profiled for his contributions to sustainable urban development and visionary leadership in construction and infrastructure.

    Adding to the intellectual gravitas of the edition is Peace Hyde, celebrated media entrepreneur, educator, and founder of Aim Higher Africa. Her voice continues to inspire a generation to dream big and build boldly.

    Together, these stories reflect the essence of Affluenz Magazine: a publication committed to elevating Africa’s voices, capturing legacies in the making, and connecting excellence across continents.

    Founded in 2011 as Pleasures Magazine and rebranded as Affluenz Magazine in 2024, the publication has evolved into a world-class platform that highlights African and Middle Eastern excellence, entrepreneurship, and culture. With editorial offices in Abuja, Dubai,Riyadh Accra, Washington DC and London, the magazine reaches readers in over 103 countries and maintains syndication through platforms like Yahoo Finance, Business Insider, and Washington Times.

    Speaking about the new edition, Executive Publisher Adedotun Olaoluwa remarked:

    “This special issue is not just a tribute to Sheikh Zayed, but a celebration of global visionaries — individuals building bridges across continents. Affluenz continues to be a vessel for celebrating our shared humanity and transformative leadership from Africa to the Middle East.”

    The July/August 2025 issue is now available in digital and print formats across select global outlets, including Barnes & Noble (US), WHSmith (UK), and Virgin Megastore (UAE), as well as through Affluenz’s official website: www.Affluenz.com and Selar (https://apo-opa.co/4f7wBiA).

    Distributed by APO Group on behalf of The Affluenz (formerly Pleasures Magazine).

    Contact:
    Dotmount Communications
    Email: info@affluenz.com
    Instagram: @ affluenzmag
    Phone: +234 816 090 6918
    https://apo-opa.co/4f7wBiA

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI: Ethereum-Based Meme Coin Little Pepe Stage 7 Sold Out and $11,225,000 Raised

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, July 23, 2025 (GLOBE NEWSWIRE) — Little Pepe ($LILPEPE), the Ethereum-based meme coin that’s taken the crypto market by storm, has sold out Stage 7 of its presale—marking a great milestone in its journey so far. With 8.25 billion tokens sold and a total of $11,225,000 raised, Little Pepe is proving that meme coins with real application cannot only seize interest but also preserve explosive momentum.

    The huge milestone indicates the growing pleasure around the project, which is built on an Ethereum-based Layer 2 network that offers quicker, less expensive transactions and scalable infrastructure. As Stage 7 closes and Stage 8 looms, investors and analysts alike are searching closely to see simply how far this viral sensation can move.

    $LILPEPE Stage 7 Presale Sold Out

    Stage 7 of the Little Pepe presale was met with huge demand, in the long run selling out in less than 48 hours. The $0.0016 token price didn’t deter buyers—in fact, it encouraged a surge of last-minute activity as investors rushed to secure their allocations before the next price increase.

    The rapid sellout highlights not only the growing reputation of $LILPEPE but also the strategic pricing model that rewards early backers at the same time as retaining sustained buying for strain throughout each stage. The total tokens sold now stand at over 8.25 billion, an impressive feat that places Little Pepe among the most successful meme coin launches of the year.

    Built on Ethereum, Powered by Layer 2

    At the heart of Little Pepe’s achievement is its meme technology. Unlike many meme coins that launch without long-term utility, Little Pepe operates on a custom-built Layer 2 blockchain that is fully like-minded with Ethereum’s Virtual Machine (EVM). This allows users to interact with Ethereum gear while enjoying quicker and notably cheaper transactions.

    The Ethereum-compatible Layer 2 design means builders can, without difficulty, build decentralized applications (dApps) on the network, while users can stake, trade, and mint NFTs without the high gas expenses normally associated with Ethereum. This mixture of utility and accessibility is a key element in why investors are flocking to the project.

    Little Pepe Ecosystem on the Rise

    Little Pepe is not stopping at presale success. The team has laid out a detailed roadmap. Already, upcoming dApps and Layer 2 incentives for developers are generating buzz.

    Future stages of the presale are expected to introduce even more features, with Stage 8 priced higher and likely to sell out quickly given the trend. Exchange listings are also on the horizon, which could introduce a new wave of liquidity and visibility for the token. Moreover, the project is planning token burns and community reward programs to help maintain long-term value for holders and increase scarcity over time.

    What’s Next for $LILPEPE?

    With Stage 7 now behind it, Little Pepe is entering Stage 8 with strong tailwinds. The token price will increase, making early investors even more satisfied with their entry points. At the same time, the project continues to focus on product development and exchange partnerships that will bring even more attention to the token once presale phases are completed.

    As centralized exchange listings near, many in the crypto space are eyeing Little Pepe as a potential breakout star—one that combines the fun of meme culture with the fundamentals of utility and scalability.

    Little Pepe’s success in Stage 7 is more than just another crypto milestone. By selling out 8.25 billion tokens and raising $11,225,000 in record time, $LILPEPE has firmly positioned itself as a frontrunner in the next generation of meme coins. With its Ethereum-compatible Layer 2 network, strong community support, and a roadmap packed with features, Little Pepe is proving that meme coins can be more than hype—they can be powerful platforms.

    As Stage 8 begins and the crypto world watches closely, one thing is clear: Little Pepe is no longer just riding the meme coin wave—it’s leading it.

    About Little Pepe

    Little Pepe is a next-gen Layer 2 blockchain designed to merge meme culture with high-speed, low-cost decentralized infrastructure. Built for scalability, security, and accessibility, Little Pepe supports EVM-compatible applications and is powered by means of the $LILPEPE token. The project’s mission is to create a meme coin environment wherein utility meets virality, empowering users through cutting-edge technology and lightning-fast transactions.

    For more information:
    Website: https://littlepepe.com/
    Telegram: https://t.me/littlepepetoken
    Twitter: https://x.com/littlepepetoken

    Contact Details: COO- James Stephen Email: media@littlepepe.com

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5851699f-8cd3-47e3-882a-cffda1ec6ef2

    The MIL Network –

  • MIL-OSI: Graphjet visited by Japanese trading company

    Source: GlobeNewswire (MIL-OSI)

    New York, United States, July 23, 2025 (GLOBE NEWSWIRE) — Graphjet Technology (“Graphjet” or “the Company”) was honoured to welcome a delegation from a Japanese trading company with international presence for an official visit on JULY 23, 2025 to discuss on the provision of sustainable graphite materials to their customers.

    This visit highlights the Japanese trading company’s strong interest in Graphjet’s proprietary technology, which utilize palm kernel shells as a renewable feedstock to produce high purity synthetic graphite. This patented process significantly reduce carbon emissions compared to traditional graphite production methods, aligning with global efforts toward decarbonization and green manufacturing.

    With over 75 years of history, this renowned Japanese enterprise is one of the major integrated trading houses in Asia, actively engaged in diverse sectors including aerospace components, advanced machinery and automation systems, and chemical products, it serves industry leaders across multiple sector for customers like Toshiba and Hitachi. With annual revenue of around ¥‎30 billion, the firm maintains operations in North America, Europe, and Southeast Asia.

    During the visit, the delegation toured Graphjet’s R&D production facilities, gaining valuable insights into the company’s manufacturing process and quality assurance system.

    “This engagement marks a meaningful step forward in strengthening mutual understanding and laying the groundwork for future collaboration in the field of sustainable graphite and next generation technology.” said Chris Lai the CEO of Graphjet.

    Graphjet Technology remains committed to advancing green innovation and building strong partnership with global industry leaders to drive sustainable progress in the graphite and graphene sector.

    About Graphjet Technology Sdn. Bhd.

    Graphjet Technology Sdn. Bhd. (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet’s sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.

    Cautionary Statement Regarding Forward-Looking Statements

    The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet’s industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet’s ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations.

    Graphjet Technology Contacts

    Investors
    ceo.office@graphjettech.com

    Media
    ceo.office@graphjettech.com

    ###

    The MIL Network –

  • MIL-OSI: Grayscale Investments® Low-Cost Bitcoin ETP (Ticker: BTC) Surpasses $5,000,000,000 in AUM Within First Year and Expands Access Through Major Wealth Management Platform

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., July 23, 2025 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital asset-focused investment platform, today announced that Grayscale® Bitcoin Mini Trust ETF (NYSE Arca: BTC), has garnered over $5,000,000,000 in assets under management (AUM) since launching on July 31, 2024.1

    Grayscale Bitcoin Mini Trust ETF (“BTC”), an exchange traded product, is not registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same regulations and protections as 1940 Act-registered ETFs and mutual funds. 

    “The momentum behind BTC underscores the growing role of crypto in diversified portfolios,” said John Hoffman, Grayscale’s Head of Distribution and Partnerships. “BTC continues to establish itself as a leading ETP for Bitcoin exposure among asset allocators, and its recent milestones reflect strong investor demand and increasing institutional utilization.”

    Since launch, Grayscale® Bitcoin Mini Trust ETF (NYSE Arca: BTC) has steadily attracted a growing share of spot Bitcoin ETP inflows in the U.S., supported by its low annual fee of 0.15% (15 basis points2) and performance benefits. As of July 14, 2025, BTC surpassed $5B in AUM within its first year – a milestone achieved by only nine ETF products.3

    In addition, BTC is now available for advisor solicitation on a major national broker-dealer platform, allowing financial advisors and wealth managers to incorporate BTC more easily into client portfolios. This expanded access reflects a broader trend of growing institutional interest in digital asset products and a shift toward Bitcoin exposure as part of diversified investment strategies.

    “Over the past decade, we’ve seen digital assets evolve from the fringes of portfolio construction into a credible option in mainstream asset allocation conversations,” Hoffman added. “At Grayscale, we remain focused on delivering investment vehicles through familiar, established structures, enabling allocators to access this asset class with confidence as it becomes an integral component of modern portfolios.”

    The Grayscale team is pleased to provide industry-leading research, content, and no-cost resources for investors and financial professionals. If you’d like to learn more about our product suite, please email info@grayscale.com or call 866-775-0313 to speak directly to a member of the Grayscale team.  

    For additional information about BTC, please visit: https://etfs.grayscale.com/btc  

    1 Source: Bloomberg L.P.
    2 Basis Points (BPs) are a unit of measure used to indicate percentage changes in financial instruments
    3 Excluding mutual fund conversions, based in the U.S.

    Please read the prospectuses carefully before investing in BTC. Foreside Fund Services, LLC is the Marketing Agent for BTC. 

    An investment in BTC is subject to a high degree of risk and heightened volatility. BTC is not suitable for an investor that cannot afford the loss of the entire investment. An investment in BTC is not an investment in Bitcoin. Investing involves significant risk, including possible loss of principal.   

    There is no guarantee that a market for the shares will be available which will adversely impact the liquidity of BTC. The value of BTC relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors.

    About Grayscale Investments® 
    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as a digital asset-focused investment platform. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

    Media Contact
    press@grayscale.com

    Client Contact
    866-775-0313
    info@grayscale.com

    The MIL Network –

  • MIL-OSI: Grayscale Investments® Low-Cost Bitcoin ETP (Ticker: BTC) Surpasses $5,000,000,000 in AUM Within First Year and Expands Access Through Major Wealth Management Platform

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., July 23, 2025 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital asset-focused investment platform, today announced that Grayscale® Bitcoin Mini Trust ETF (NYSE Arca: BTC), has garnered over $5,000,000,000 in assets under management (AUM) since launching on July 31, 2024.1

    Grayscale Bitcoin Mini Trust ETF (“BTC”), an exchange traded product, is not registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same regulations and protections as 1940 Act-registered ETFs and mutual funds. 

    “The momentum behind BTC underscores the growing role of crypto in diversified portfolios,” said John Hoffman, Grayscale’s Head of Distribution and Partnerships. “BTC continues to establish itself as a leading ETP for Bitcoin exposure among asset allocators, and its recent milestones reflect strong investor demand and increasing institutional utilization.”

    Since launch, Grayscale® Bitcoin Mini Trust ETF (NYSE Arca: BTC) has steadily attracted a growing share of spot Bitcoin ETP inflows in the U.S., supported by its low annual fee of 0.15% (15 basis points2) and performance benefits. As of July 14, 2025, BTC surpassed $5B in AUM within its first year – a milestone achieved by only nine ETF products.3

    In addition, BTC is now available for advisor solicitation on a major national broker-dealer platform, allowing financial advisors and wealth managers to incorporate BTC more easily into client portfolios. This expanded access reflects a broader trend of growing institutional interest in digital asset products and a shift toward Bitcoin exposure as part of diversified investment strategies.

    “Over the past decade, we’ve seen digital assets evolve from the fringes of portfolio construction into a credible option in mainstream asset allocation conversations,” Hoffman added. “At Grayscale, we remain focused on delivering investment vehicles through familiar, established structures, enabling allocators to access this asset class with confidence as it becomes an integral component of modern portfolios.”

    The Grayscale team is pleased to provide industry-leading research, content, and no-cost resources for investors and financial professionals. If you’d like to learn more about our product suite, please email info@grayscale.com or call 866-775-0313 to speak directly to a member of the Grayscale team.  

    For additional information about BTC, please visit: https://etfs.grayscale.com/btc  

    1 Source: Bloomberg L.P.
    2 Basis Points (BPs) are a unit of measure used to indicate percentage changes in financial instruments
    3 Excluding mutual fund conversions, based in the U.S.

    Please read the prospectuses carefully before investing in BTC. Foreside Fund Services, LLC is the Marketing Agent for BTC. 

    An investment in BTC is subject to a high degree of risk and heightened volatility. BTC is not suitable for an investor that cannot afford the loss of the entire investment. An investment in BTC is not an investment in Bitcoin. Investing involves significant risk, including possible loss of principal.   

    There is no guarantee that a market for the shares will be available which will adversely impact the liquidity of BTC. The value of BTC relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors.

    About Grayscale Investments® 
    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as a digital asset-focused investment platform. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

    Media Contact
    press@grayscale.com

    Client Contact
    866-775-0313
    info@grayscale.com

    The MIL Network –

  • MIL-OSI: Endeavor Bancorp Reports Net Income of $1.1 Million for the Second Quarter of 2025; Highlighted by Continued Loan and Deposit Growth, and NIM Expansion

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, July 23, 2025 (GLOBE NEWSWIRE) — Endeavor Bancorp (OTCQX: EDVR) (the “Company” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today reported net income of $1.07 million, or $0.25 per diluted share, for the second quarter of 2025, compared to $1.36 million, or $0.32 per diluted share, for the first quarter of 2025, and $760,000, or $0.18 per diluted share, for the second quarter of 2024. All financial results are unaudited.

    “Our second quarter results reflect the strength of our core banking franchise and the disciplined execution of our strategic growth plan,” said Julie Glance, CFO. “We continued to grow loans and deposits during the quarter while maintaining a strong net interest margin, demonstrating the resilience of our business model in an uncertain interest rate environment. Our strategic investments in talent and infrastructure are starting to deliver measurable returns, enhancing both operational efficiency and client service. As we look ahead, we remain focused on driving sustainable, profitable growth and creating long-term value for our shareholders.”

    Results for the second quarter of 2025 included a $746,000 provision for credit losses, reflecting continued prudent credit risk management amid a growing loan portfolio. This compared to a $385,000 provision for credit losses in the first quarter of 2025, and a $451,000 provision for credit losses in the second quarter of 2024. Excluding taxes and loan loss provisions, pretax, pre-provision net income was $2.28 million, consistent with the prior quarter’s $2.33 million, and up from $1.55 million in the second quarter of 2024.

    Income Statement 

    Strong first quarter earnings were driven by loan growth and earning asset rates. Total interest income on loans and bank deposits and investments was $11.6 million, an increase of $504,000 compared to the preceding quarter, while total interest expenses increased $128,000 during the same timeframe. Net interest income was $7.4 million in the second quarter of 2025, which was an increase of $376,000, or 5.4% compared to the preceding quarter and a 37.8% increase compared to the second quarter of 2024.

    “Our net interest margin expanded by nine basis points in the second quarter of 2025 compared to the prior quarter, driven primarily by strong loan growth and continued improvement in our funding costs,” said Dan Yates, CEO. “This positive trend reflects not only solid execution on the asset side of the balance sheet but also disciplined management of our deposit base in a competitive rate environment. We remain proactive in optimizing our asset-liability mix to safeguard and enhance margin performance, while maintaining prudent risk management and offering attractive pricing to our clients. As interest rate dynamics evolve, we are confident in our ability to navigate the environment effectively, positioning us to sustain earnings momentum.”

    The Company’s net interest margin increased nine basis points to 4.21% in the second quarter of 2025 compared to 4.12% in the first quarter of 2025 and increased 51 basis points compared to 3.70% in the second quarter of 2024. The yield on total earning assets remained strong, increasing 10 basis points during the second quarter of 2025 to 6.62%, compared to 6.52% in the preceding quarter, and up from 6.33% in the second quarter of 2024. The cost of deposits decreased to 2.57% in the second quarter, compared to 2.58% in the first quarter of 2025, and down from 2.84% in the second quarter of 2024.

    Non-Interest income was $276,000 in the second quarter of 2025, an increase of $93,000 or 50.5% compared to the first quarter of 2025, and a decrease compared to $390,000 in the second quarter of 2024.

    Non-Interest expense was $5.4 million in the second quarter of 2025, an increase of $521,000 compared to the first quarter of 2025, and an increase of $1.2 million compared to the second quarter of 2024. Included in non-interest expense during the second quarter of 2025 was $263,000 in annual board compensation. In the prior year annual board compensation of $312,000 was paid during the first quarter of 2024. The higher expenses year-over-year were also due to strategic investment in staff. “In 2024, we made strategic investments in talent, increasing our headcount by over 30%. These additions are now delivering strong returns, with revenue growth fueled by our enhanced capabilities more than offsetting the associated rise in expenses year-over-year. Our improved efficiency ratio, which declined to 70.3% during the second quarter of 2025 from 75.8% during the second quarter of 2024, further demonstrates that the team we built last year is now fully ramped and highly productive. With fewer new hires planned for the remainder of the year, we remain focused on maximizing the impact of our expanded workforce and are well positioned to drive continued earnings growth,” said Yates.

    The Company’s annualized return on average equity for the second quarter of 2025 was 8.75%, compared to 11.68% in the first quarter of 2025 and 6.96% in the second quarter of 2024. The annualized return on average assets for the second quarter of 2025 was 0.60% compared to 0.79% in the first quarter of 2025 and 0.52% in the second quarter of 2024. The decrease compared to the prior quarter was primarily due to the previously mentioned board expense along with one-time consulting expense associated with contract renegotiation during the second quarter of 2025.

    Balance Sheet 

    Total assets increased by $42.3 million, or 6.0%, during the second quarter of 2025 to $746.9 million at June 30, 2025, compared to $704.6 million at March 31, 2025, and increased $153.1 million, or 25.8%, compared to June 30, 2024. Balance sheet liquidity remains strong with cash balances of $87.4 million, which represents 11.7% of total assets as of June 30, 2025. The Company’s investment securities increased $1.7 million during the second quarter of 2025 to $28.1 million as of June 30, 2025, representing 3.8% of total assets. Total available borrowing capacity through the Federal Home Loan Bank and the Federal Reserve discount window totaled $245.3 million as of quarter end.

    “We are pleased with the continued progress in our deposit-gathering and lending efforts, which reflects the strength of our client relationships and the effectiveness of our strategy,” said Steve Sefton, President. “Our team remains focused on delivering tailored financial solutions to our business clients, while maintaining disciplined underwriting and sound risk management. As we continue to deepen these relationships, we are well positioned to drive sustainable growth and long-term value.”

    Total loans outstanding increased $28.1 million, or 4.7%, during the second quarter of 2025 to $625.9 million at June 30, 2025, compared to $597.8 million three months earlier, and increased $142.5 million, or 29.5%, when compared to $483.4 million a year earlier. Total non-performing loans decreased to 0.32% of the total loan portfolio as of June 30, 2025, compared to 0.40% as of March 31, 2025. The Company had $421,000 in net charge-offs during the second quarter of 2025, which included one loan that had previously been reserved for. This compared to zero in net charge-offs during the preceding quarter and the year ago quarter.

    Total deposits increased $41.2 million, or 6.6%, during the quarter to $667.4 million at June 30, 2025, compared to $626.2 million three months earlier, and increased $149.2 million, up 28.8% when compared to $518.2 million a year earlier. The loan to deposit ratio was 93.8% at June 30, 2025, compared to 95.5% at March 31, 2025, and 92.9% as of June 30, 2024. “We are strategically managing our balance sheet with a target loan to deposit ratio of 95% as we aim for the right balance between strong lending activity and liquidity,” added Sefton.

    As a result of its participation in reciprocal deposit placement networks, the Bank accepted “reciprocal” deposits from other institutions, enabling the Bank to offer customers FDIC insurance on accounts in excess of the typical $250,000 FDIC insurance limit. Although the reciprocal deposits maintained through the network are core deposits seeking FDIC insurance, the FDIC rules indicate that reciprocal deposits aggregating over 20% of total liabilities are classified as deposits obtained by or through a deposit broker. The total reciprocal deposits reported as brokered deposits were $133.3 million at June 30, 2025, and $102.5 million as of March 31, 2025. To support strong loan growth, the Company is utilizing a conservative amount of wholesale deposits. As of June 30, 2025, total wholesale deposits, excluding the reciprocal deposits, was $56.8 million, representing 8.5% of total deposits compared to $55.7 million, or 8.9% of total deposits as of March 31, 2025.

    Shareholders’ equity was $48.9 million at June 30, 2025, compared to $47.7 million at March 31, 2025, and $44.1 million at June 30, 2024. Tangible book value per share increased to $13.64 at June 30, 2025, compared to $13.49 three months earlier and $12.55 a year earlier.

    Capital 
    The Bank’s Tier 1 leverage ratio was 10.60% as of June 30, 2025, compared to 10.57% at March 31, 2025. The Tier 1 risk-based capital ratio was 10.20% as of June 30, 2025, compared to 10.47% on March 31, 2025, and the Total risk-based capital ratio was 11.37% compared to 11.65% three months earlier, all of which were well above regulatory minimums.

    About Endeavor Bancorp 

    Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank’s focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California.

    Headquartered in downtown San Diego in the Symphony Towers building, the Bank also operates a loan production and executive administration office in Carlsbad, as well as a branch office in La Mesa. In addition, the Bank maintains production teams throughout Southern California. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners our business clients with Endeavor Bank’s senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients’ efforts to grow revenues and profits. Endeavor Bancorp trades on the OTCQX® Best Market under the symbol “EDVR.” Visit www.endeavor.bank for more information.

    Endeavor Bank is rated by Bauer Financial as Five-Star “Superior” for strong financial performance, the top rating given by the independent bank rating firm. DepositAccounts.com awarded Endeavor Bank an A rating.

    EDVR Shareholders 

    With many of our shareholders transferring their EDVR shares to their brokerage companies, along with ongoing trading taking place, Bancorp may not have the most current shareholder contact information. If you are an EDVR shareholder and would like to receive information via a more timely method, please complete the Shareholder Communication Preference Form on our website: https://www.bankendeavor.com/investor-relations so we can keep you updated on EDVR news, and invite you to various shareholder networking events throughout the year. 

    Forward-Looking Statements 

    This press release includes “forward-looking statements,” as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Company’s directors and executive officers (collectively, “Management”), as well as assumptions made by and information currently available to the Company’s Management. All statements regarding the Company’s business strategy and plans and objectives of Management of the Company for future operations, are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar meaning, as they relate to the Company or the Company’s Management, are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s expectations (“cautionary statements”) are loan losses, rapid and unanticipated deposit withdrawals, unavailability of sources of liquidity, additional regulatory requirements that may be imposed on community banks or banks generally, changes in interest rates, loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Company, the secure and effective implementation of technology, risks related to the local and national economy, the effect on customers, collateral value and property insurance markets of the recent wildfires in the Los Angeles metropolitan area and similar events in the future, changes in real estate values, the Company’s implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.

    SELECTED FINANCIAL DATA        
    (In thousands of dollars, except for ratios and per share amounts)    
    Unaudited        
             
        June 30, 2025 March 31, 2025 June 30, 2024
        (Consolidated) (Consolidated) (Consolidated)
    SUMMARY OF OPERATIONS        
    Interest income   $ 11,623   $ 11,119   $ 9,203  
    Interest expense     4,234     4,106     3,840  
    Net interest income     7,389     7,013     5,363  
    Provision for credit losses     746     385     451  
    Net interest income after loss provision     6,643     6,628     4,912  
    Non-interest income     276     183     390  
    Non-interest expense     5,385     4,864     4,205  
    Income before tax     1,533     1,947     1,097  
    Federal income tax expense     294     372     215  
    State income tax expense     172     214     121  
    Net income   $ 1,067   $ 1,361   $ 760  
             
    Core pretax earnings*   $ 2,279   $ 2,332   $ 1,548  
    *excludes taxes and provision for loan losses        
             
    PER COMMON SHARE DATA        
    Number of shares outstanding (000s)*     3,586     3,503     3,493  
    *Adjusted for May 2024 Stock Dividend        
    Earnings per share, basic   $ 0.30   $ 0.39   $ 0.22  
    Earnings per share, diluted   $ 0.25   $ 0.32   $ 0.18  
    Book Value per share   $ 13.64   $ 13.61   $ 12.61  
             
    BALANCE SHEET DATA        
    Assets   $ 746,907   $ 704,564   $ 593,803  
    Investments securities     28,117     26,385     18,204  
    Total loans, net of unearned income     625,912     597,846     483,411  
    Total deposits     667,408     626,165     518,230  
    Borrowings     26,746     26,721     26,648  
    Shareholders’ equity     48,905     47,667     44,051  
    Loan to Deposit ratio     93.78 %   95.48 %   93.28 %
    Wholesale Deposits to Total Deposits     8.50 %   8.90 %   0.00 %
             
    AVERAGE BALANCE SHEET DATA        
    Average assets   $ 712,281   $ 697,617   $ 590,625  
    Average total loans, net of unearned income     611,480     589,037     461,476  
    Average total deposits     632,477     618,844     515,457  
    Average shareholders’ equity     48,909     47,256     43,825  
             
    ASSET QUALITY RATIOS        
    Net (charge-offs) recoveries   $ 421   $ –   $ –  
    Net (charge-offs) recoveries to average loans     0.28 %   0.00 %   0.00 %
    Non-performing loans as a % of loans     0.32 %   0.40 %   0.06 %
    Non-performing assets as a % of assets     0.27 %   0.34 %   0.05 %
    Allowance for loan losses as a % of total loans     1.36 %   1.36 %   1.42 %
    Non-performing assets as a % of allowance for loan losses   23.37 %   29.60 %   22.94 %
             
    FINANCIAL RATIOSSTATISTICS        
    Annualized return on average equity     8.75 %   11.68 %   6.96 %
    Annualized return on average assets     0.60 %   0.79 %   0.52 %
    Net interest margin     4.21 %   4.12 %   3.70 %
    Efficiency ratio     70.27 %   67.59 %   75.75 %
             
    CAPITAL RATIOS        
    Tier 1 leverage ratio — Bank   10.60 %   10.57 %   11.70 %
    Common equity tier 1 ratio — Bank     10.20 %   10.47 %   11.84 %
    Tier 1 risk-based capital ratio — Bank   10.20 %   10.47 %   11.84 %
    Total risk-based capital ratio –Bank   11.37 %   11.65 %   13.04 %
             
    TCE/TA *     6.55 %   6.77 %   7.42 %
    Tangible Book Value per Share   $ 13.64   $ 13.49   $ 12.55  
             
    *Non-GAAP financial measure.        
    Unaudited financials 2025        

    Endeavor Bancorp Contact Information:  
    (858) 230.5185  
    Dan Yates, CEO  
    dyates@bankendeavor.com

    (858) 230.4243  
    Steve Sefton, President  
    ssefton@bankendeavor.com  

    The MIL Network –

  • MIL-OSI: FFB Bancorp Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    FRESNO, Calif., July 23, 2025 (GLOBE NEWSWIRE) — FFB Bancorp (the “Company”) (OTCQX: FFBB), the parent company of FFB Bank (the “Bank”), today reported net income of $6.04 million, or $1.94 per diluted share, for the second quarter of 2025, compared to $8.08 million, or $2.54 per diluted share, for the second quarter of 2024, and $8.10 million, or $2.55 per diluted share, for the first quarter of 2025.

    For the six months ended June 30, 2025, net income was $14.13 million, or $4.50 per diluted share, compared to $15.87 million, or $4.99 per diluted share, for the same period in 2024. All results are unaudited.

    Second Quarter 2025 Summary: As of, or for the quarter ended June 30, 2025, compared to the quarter ended June 30, 2024:

    • Operating revenue (net interest income, before the provision for credit losses, plus non-interest income) increased 11% to $27.35 million.
    • Pre-tax, pre-provision income increased 1% to $11.58 million.
    • Net income decreased 25% to $6.04 million.
    • Return on average equity (“ROAE”) was 13.75%.
    • Return on average assets (“ROAA”) was 1.59%.
    • Net interest margin contracted 22 basis points to 5.09% from 5.31%.
    • Total assets increased 2% to $1.47 billion.
    • Total portfolio of loans increased 13% to $1.09 billion.
    • Total deposits increased 6% to $1.23 billion.
    • Shareholder equity increased 17% to $173.91 million.
    • Book value per common share increased 22% to $56.87.
    • The Company’s tangible common equity ratio was 11.80%, while the Bank’s regulatory leverage capital ratio was 14.41%, and the total risk-based capital ratio was 20.61% at June 30, 2025.

    “During the quarter FFB Bank was recognized as #1 in American Banker’s top-performing public banks with under $2B in assets and #34 in S&P Global’s 100 best-performing US community banks of 2024, for bank’s under $3B in assets,” said Steve Miller, President & CEO. “This recognition is a testament to the consistent success we’ve enjoyed, and a reminder of the results we expect and continue to strive toward. As we navigate the challenges this year has brought, we’re proud to build upon our history of success.”

    “During the quarter we have made continued and timely progress on the matters outlined in our consent order, although ultimate compliance will be determined by our regulators. We are confident we can continue to address these items going forward. Although the added resource allocation to properly address the order will have near-term impacts to our performance, we feel that building a best in-class compliance and risk frame-work will enable the bank to drive results over the long-term.”

    Update on Stock Repurchase Program:

    On January 22, 2025, the Company announced that it had authorized a plan to utilize up to $15.0 million of capital to repurchase shares of the Company’s common stock. As of June 30, 2025, the Company has repurchased 133,021 shares, at an average price of $76.79, totaling $10.22 million. This represents approximately 5.33% of total shareholders’ equity at June 30, 2025. During the second quarter of 2025 the Company repurchased 91,106 shares, at an average price of $74.58, totaling $6.79 million. These purchases represent approximately 3.54% of total shareholders’ equity at June 30, 2025.

    Under the terms of the repurchase plan, the Company may repurchase shares of the Company’s common stock from time to time, through December 31, 2025, in open market purchases or privately negotiated transactions. Repurchases under the plan may also be made pursuant to a trading plan under Securities and Exchange Commission Rule 10b5-1 under the Securities Exchange Act of 1934, which would permit shares to be repurchased by the Company when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, manner, price and exact amount of any repurchases by the Company will be determined at the Company’s discretion and depend on various factors including the performance of the Company’s stock price, general market and economic conditions, applicable legal and regulatory requirements, availability of funds, and other relevant factors. Through December 31, 2025, the repurchase plan may be discontinued, suspended or restarted at any time.

    Results of Operations

    Quarter ended June 30, 2025:

    Operating revenue, consisting of net interest income before the provision for credit losses and non-interest income, increased 11% to $27.35 million for the second quarter of 2025, compared to $24.73 million for the second quarter a year ago, and decreased 4% from $28.48 million for the first quarter of 2025.

    Net interest income, before the provision for credit losses, increased 5% to $18.11 million for the second quarter of 2025, compared to $17.31 million for the same quarter a year ago, and decreased 4% to $18.90 million from last quarter. “Net interest income has benefited from strong loan portfolio growth, partially offset by higher funding costs,” said Bhavneet Gill, Chief Financial Officer. “We have been able to capitalize on a higher yielding loan portfolio, but that yield was impacted by a $261,000 interest reversal as loans, totaling $11.86 million, were placed on non-accrual during the quarter.”

    The Company’s net interest margin (“NIM”) decreased by 22 basis points to 5.09% for the second quarter of 2025, compared to 5.31% for the second quarter of 2024, and decreased 26 basis points from 5.35% for the preceding quarter. “The decrease in NIM is primarily the result of an increase in deposit and borrowing interest expense, and the decrease in investment interest income. During the quarter, average non-interest bearing deposits decreased $37.67 million. The resulting shift in the deposit portfolio saw the cost of deposits increase 13 basis points,” noted Gill. “During the second quarter of 2025 we sold $48.05 million in investment securities to generate liquidity ahead of anticipated deposit outflows due to ISO partner exits. That transaction was the driver of the decrease in investment interest income in the current quarter and will result in lower investment income in future quarters.”

    The yield on earning assets was 6.18% for the second quarter of 2025, compared to 6.40% for the second quarter a year ago, and 6.31% for the previous quarter. The cost to fund earning assets increased to 1.09% for the second quarter of 2025 compared to 0.96% for the previous quarter, and 1.10% for the same quarter a year earlier. This increase is the result of an increase in brokered deposits and overnight borrowings during the quarter due to ISO deposit outflow that occurred in early June.

    Total non-interest income was $9.24 million for the second quarter of 2025, compared to $7.42 million for the second quarter of 2024, and $9.58 million for the previous quarter. The increase in non-interest income, from the second quarter of 2024, was driven by more gain on the sale of loans, higher merchant services revenue, and a reduction in loss on sale of investments. The quarter-over-quarter decrease in non-interest income was attributed to a decrease in merchant services revenue, partially offset by more gain on the sale of loans.

    Merchant services revenue increased 9% to $6.61 million for the second quarter of 2025, compared to $6.07 million from the second quarter of 2024. The increase over prior year was primarily related to higher volume across ISO partner sponsorship lines and higher gross revenue related to FFB Payments. Merchant services revenue decreased from $7.86 million when compared to the first quarter of 2025 as a result of seasonality and the loss of a significant FFB Payments direct merchant.

    During the first and second quarters of 2025, ISO Partner Sponsorship volumes included $2.78 billion and $2.56 billion in volume, respectively, for the ISO partners that were exited in the second quarter of 2025. Additionally, the first and second quarters of 2025 included ISO Partner Sponsorship revenues of $990,000 and $1.09 million, respectively, from the ISO partners that were exited in the second quarter of 2025. “These ISO exits were driven by our efforts to comply with the Consent Order and designed to ensure best in class oversight. We anticipate replacing this volume and revenue through growth in FFB Payments and with our remaining ISO partners as we move forward,” said Miller.

    Merchant ISO Processing Volumes(in thousands)
    Source   Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024
    ISO Partner Sponsorship   $ 5,347,695   $ 5,007,998   $ 4,891,643   $ 4,556,868   $ 4,391,365  
    FFB Payments – Sub-ISO Merchants     20,766     21,551     22,950     24,661     24,414  
    FFB Payments – Direct Merchants     71,746     97,095     91,133     64,512     76,059  
    Total volume   $ 5,440,207   $ 5,126,644   $ 5,005,726   $ 4,646,041   $ 4,491,838  
    Merchant ISO Processing Revenues(in thousands)
    Source of Revenue   Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024
    Net Revenue*:            
    ISO Partner Sponsorship   $ 2,654   $ 2,410   $ 2,535   $ 2,284   $ 2,156  
                 
    Gross Revenue:            
    FFB Payments – Sub-ISO Merchants     727     745     764     810     795  
    FFB Payments – Direct Merchants     3,228     4,709     4,262     2,476     3,117  
          3,955     5,454     5,026     3,286     3,912  
    Gross Expense:            
    FFB Payments – Sub-ISO Merchants     708     616     638     723     675  
    FFB Payments – Direct Merchants     2,179     2,558     2,511     1,766     1,989  
          2,887     3,174     3,149     2,489     2,664  
    Net Revenue:            
    FFB Payments – Sub-ISO Merchants     19     129     126     87     120  
    FFB Payments – Direct Merchants     1,049     2,151     1,751     710     1,128  
    FFB Payments Net Revenue     1,068     2,280     1,877     797     1,248  
    Net Merchant Services Income:   $ 3,722   $ 4,690   $ 4,412   $ 3,081   $ 3,404  
    *ISO Partnership Sponsorship is recognized net of expense in Merchant Services Income. FFB Payments revenues are recognized gross in Merchant Services Income and Merchant Services expenses are recognized in Non-Interest Expense.

    Total deposit fee income increased 1% to $854,000 for the second quarter of 2025, compared to $847,000 for the second quarter of 2024, and increased 1% from $849,000 for the previous quarter.

    There was a $1.45 million gain on the sale of loans during the second quarter of 2025, compared to a gain on the sale of loans of $509,000 during the second quarter 2024, and a gain on the sale of loans of $261,000 in the previous quarter. There was a $243,000 loss on the sale of investments during the second quarter of 2025, compared to a $459,000 loss recorded during the second quarter of 2024, and no loss recorded in the previous quarter. The gain on the sale of loans was the result of $16.95 million in SBA loans sold and a $31.77 million RE-multifamily loan sale package that was completed during the quarter. These sales contributed $968,000 and $482,000 in gain respectively.

    Non-interest expense increased 19% to $15.77 million for the second quarter of 2025, compared to $13.29 million for the second quarter 2024, and decreased 4% from $16.47 million from the previous quarter. The increase on a year-over-year comparison was driven by increases in salaries and employee benefits expense, and increases in other operating expense, primarily data and software related expenses and professional fees. Compared to the first quarter of 2025 the decrease in non-interest expense was attributed to a decrease in merchant services operating expenses, marketing expense, director fess, and operational losses.

    Salaries and employee benefits increased 19% to $8.00 million for the second quarter of 2025, compared to $6.72 million for the second quarter 2024. The increase year-over-year was primarily the result of expense associated with the increase in full-time employees. Full-time employees increased to 181 at June 30, 2025, compared to 147 full-time employees a year earlier, and 175 full-time employees from the previous quarter. Total salaries and employee benefits decreased 1% from $8.06 million in the previous quarter. The decrease when compared to the first quarter of 2025 is the result of a decrease in payroll tax expense and increased loan originations, partially offset by higher salary expense from additional full-time employees. Compensation related direct costs associated with loan originations offset salary and employee benefits expense upon loan origination.

    Occupancy and equipment expenses decreased 19% from a year ago, representing 2% of non-interest expense, and remained consistent with the preceding quarter. Merchant operating expense totaled $2.89 million for the second quarter of 2025, compared to $2.66 million for the second quarter of 2024 and $3.17 million for the previous quarter. The change in merchant operating expense is attributed to fluctuations in volume and revenue for the FFB Payments lines of business. Merchant operating expenses include interchange fees, chargebacks, partnership fees, and other card brand fees.

    Other operating expense increased 31% or $1.07 million to $4.53 million from a year earlier and decreased 7% or $357,000 from the previous quarter. The year-over-year increase was driven by increases of $458,000 in data and software related expense, $327,000 in professional fees, $136,000 in regulatory assessment expense, and $127,000 in marketing expense. The increase in data and software expense and professional fees, which include legal, audit, and consulting fees, are primarily due to actions taken to enhance the Company’s AML/CFT, compliance, and merchant services programs.

    The efficiency ratio was 57.15% for the second quarter of 2025, compared to 52.74% for the same quarter a year ago, and 57.83% for the preceding quarter. The efficiency ratio can fluctuate period-over-period based on changes in merchant services’ gross revenues and associated expenses. The Company also calculates an adjusted efficiency ratio where the merchant services’ gross expense, which is included in non-interest expense, is netted against merchant services’ revenue in non-interest income. The adjusted efficiency ratio was 52.14% for the second quarter of 2025, compared to 47.15% for the same quarter a year ago, and 52.54% for the previous quarter.

    “Over the last few quarters, we’ve made intentional investments in people and technology to ensure that the bank can efficiently scale moving forward, and specifically to support our payment ecosystem, product development, regional expansion, and compliance/risk management initiatives. We saw elevated legal, audit, and technology related expenses in the first half of the year mostly related to addressing the Consent Order,” said Miller.

    Six months ended June 30, 2025:

    For the six months ended June 30, 2025, operating revenue increased 15% to $55.83 million, compared to $48.34 million for the same period in 2024. For the six months ended June 30, 2025, net interest income before the provision for credit losses increased 11% to $37.01 million, compared to $33.44 million for the same period in 2024. The increase in revenue is attributed to growth in the loan portfolio, partially offset by a decrease in investment interest income, an increase in interest bearing liabilities, and the cost of funds. For the six months ended June 30, 2025, the yield on earning assets was 6.24% compared to 6.27% for the same period in 2024, while the cost to fund earning assets was 1.02% for the six months ended June 30, 2025, compared to 1.05% for the same period in 2024.

    For the six months ended June 30, 2025, non-interest income increased 26% to $18.82 million compared to $14.90 million for the same period in 2024. Deposit fee income increased 4% to $1.70 million resulting from growth in business demand deposit accounts. The year-over-year growth in non-interest income was also largely attributable to the decrease in loss on sale of investments, an increase in the gain on sale of loans, and an increase in merchant services revenue.

    For the six months ended June 30, 2025, operating expenses increased by 24% to $32.24 million from $25.99 million for the same period in 2024. Salaries and employee benefits expense increased 21% to $16.06 million as a result of the increase in FTE. There was a 21% increase in merchant services operating expenses, to $6.06 million, which represents 19% of total operating expenses for six months ended June 30, 2025. Other operating expenses increased 38% to $9.41 million due to a $711,000 increase in technology related expenses, increases of $683,000 in professional fees, and increase of $389,000 in marketing expense, and a $293,000 increase in operational losses.

    For the six months ended June 30, 2025, the efficiency ratio was 57.49%, compared to 52.85% for the same period ended June 30, 2024. The adjusted efficiency ratio was 52.34%, compared to 47.48% for the same period ended June 30, 2024.

    Balance Sheet Review

    Total assets increased 2% to $1.47 billion at June 30, 2025, compared to $1.44 billion at June 30, 2024, and decreased 6% compared to March 31, 2025.

    The total portfolio of loans increased 13%, or $122.20 million, to $1.09 billion, compared to $969.76 million at June 30, 2024, and remained consistent with the $1.09 billion reported at March 31, 2025.

    Commercial real estate loans increased 22% year-over-year to $683.74 million, representing 63% of total loans at June 30, 2025. The CRE portfolio includes approximately $254.16 million in multi-family loans originated by the Southern California team that the Company may consider selling at some point in the future for liquidity and concentration management. The multi-family portfolio includes $74.32 million in short-term bridge loans for transitional projects of multi-family properties. The short-term bridge loans are conservatively underwritten with minimum DSCR and liquidity requirements. The bank continues to market our bridge loan product in a more measured approach, keeping to our conservative underwriting standards. The real estate construction and land development loan portfolio decreased 84% from a year ago to $12.78 million, representing 1% of total loans, while residential RE 1-4 family loans totaled $17.07 million, or 2% of loans, at June 30, 2025, compared to $17.44 million one year ago.

    The commercial and industrial (C&I) portfolio increased 15% to $266.81 million, at June 30, 2025, compared to $232.79 million a year earlier, and increased 3% from $260.06 million at March 31, 2025. C&I loans represented 24% of total loans at June 30, 2025. Agriculture loans represented 10% of the loan portfolio at June 30, 2025. At June 30, 2025, the SBA, USDA, and other government agencies guaranteed loans totaled $53.36 million, or 4.9% of the loan portfolio.

    Investment securities totaled $254.18 million at June 30, 2025, compared to $345.49 million a year earlier, and decreased $59.65 million from $313.83 million at March 31, 2025. Investment securities were sold during the quarter to generate liquidity ahead of anticipated deposit outflows due to ISO partner exits. The investment portfolio consists of mortgage-backed and municipal securities, both tax exempt and taxable, treasury securities as well as other domestic debt. At June 30, 2025, the Company had a net unrealized loss position on its investment securities portfolio of $25.41 million, compared to a net unrealized loss of $24.50 million at March 31, 2025. The Company’s investment securities portfolio had an effective duration of 6.26 years at June 30, 2025, compared to 5.61 years at March 31, 2025.

    Total deposits increased 6%, or $65.69 million, to $1.23 billion at June 30, 2025, compared to $1.17 billion from a year earlier, and decreased $85.73 million from $1.32 billion at March 31, 2025. Non-interest bearing demand deposits increased 4% to $759.30 million at June 30, 2025, compared to $731.03 million at June 30, 2024, and decreased $66.10 million from $825.40 million at March 31, 2025. Non-interest bearing demand deposits represented 61% of total deposits at June 30, 2025. During the second quarter of 2025 non-interest bearing demand deposits were reduced by $111.20 million due to ISO partner exits completed in early June 2025. Certificates of deposits increased 49%, or $55.01 million, during the quarter primarily due to the addition of $51.00 million in brokered deposits that mature over the next 12 months.

    Included in non-interest bearing deposits at June 30, 2025 are $75.83 million from ISO partners for merchant reserves, $45.24 million from ISO partners for settlement, and $11.61 million in ISO partner operating accounts, totaling $132.68 million. These deposits represent 17.5% of non-interest bearing deposits and 10.7% of total deposits.

    Within the $132.68 million in ISO partner deposits retained as of June 30, 2025 are $29.56 million in deposits for ISO partners being exited in the second half of 2025. The Bank plans to replace these non-interest bearing deposits with growth from new Bank customers in its markets and from the existing ISO partners it will continue to support. In the short-term, the new deposit growth will likely be made up of a higher percentage of interest bearing deposits.

    There was $16.00 million in short-term borrowings at June 30, 2025, compared to $68.00 million at June 30, 2024, and $10.00 million at March 31, 2025. The Company primarily utilizes FHLB advances and the Federal Reserve discount window for short-term borrowings. The following table summarizes the Company’s primary and secondary sources of liquidity which were available at June 30, 2025:

    Liquidity Source
    (in thousands)    		   June 30, 2025 March 31, 2025
           
    Cash and cash equivalents   $ 77,244   $ 103,071  
    Unpledged investment securities, fair value     67,952     104,732  
    FHLB advance capacity     293,198     338,036  
    Federal Reserve discount window capacity     162,755     130,590  
    Correspondent bank unsecured lines of credit     71,500     71,500  
        $ 672,649   $ 747,929  

    The total primary and secondary liquidity of $672.65 million at June 30, 2025 represents a decrease of $75.28 million in primary and secondary liquidity quarter-over-quarter. The decreases in unpledged investment securities and the FHLB advance capacity are the result of investment and loan sales that occurred during the quarter.

    Shareholders’ equity increased 17% to $173.91 million at June 30, 2025, compared to $148.64 million from a year ago, and decreased slightly from the $174.71 million reported at March 31, 2025. Book value per common share increased 22% to $56.87, at June 30, 2025, compared to $46.79 at June 30, 2024, and increased 2% from $55.52 at March 31, 2025. The tangible common equity ratio was 11.80% at June 30, 2025, compared to 10.30% a year earlier, and 11.20% at March 31, 2025. Book value improved as a result of quarterly net income and a reduction in shares outstanding through the bank’s strategic share repurchase program.

    At the Bank level, unrealized losses and gains reflected in AOCI are not included in regulatory capital. As a result, Tier-1 capital at the Bank for regulatory purposes was $222.14 million at quarter end excluding the unrealized loss. The regulatory leverage capital ratio was 14.41% for the current quarter, while the total risk-based capital ratio was 20.61%, exceeding regulatory minimums to be considered well-capitalized.

    Asset Quality

    Nonperforming assets, which consists of nonperforming loans and other real estate owned, increased to $27.23 million, or 1.85% of total assets, at June 30, 2025, compared to $15.37 million, or 0.98% of total assets, from the previous quarter. Of the $26.29 million in nonperforming loans, $10.98 million are covered by SBA guarantees. Total delinquent loans decreased to $2.86 million at June 30, 2025, compared to $19.12 million at March 31, 2025. The increase in nonperforming loans is primarily the result of two multi-family loans, which are real estate secured, totaling $10.00 million to a related group of borrowers. These loans were included in the delinquent balances for the quarter ended March 31, 2025. As a result of their non-accrual status, the balance of the loans exceeding the real estate collateral value is reserved for in the allowance for credit loss, resulting in $1.62 million of additional reserve. The Bank is working closely with the borrowers as they work through stabilization and sale of the properties.

    Past due loans 30-60 days were $1.80 million at June 30, 2025, compared to $17.53 million at March 31, 2025, and $1.05 million at June 30, 2024. There were $1.02 million past due loans from 60-90 days at June 30, 2025, compared to $1.54 million at March 31, 2025 and $175,000 in past due loans from 60-90 days a year earlier. Past due loans 90+ days at quarter end totaled $46,000 at June 30, 2025, compared to $1.05 million, at June 30, 2024. Of the $2.86 million in past due loans at June 30, 2025, $965,000 were purchased government guaranteed loans, which are guaranteed by the SBA for the full payment of the principal plus interest.

    Delinquent Loan Summary   Organic Purchased Govt. Guaranteed Total
    (in thousands)  
             
    Delinquent accruing loans 30-59 days   $ 877   $ 919   $ 1,796  
    Delinquent accruing loans 60-89 days     1,020     —     1,020  
    Delinquent accruing loans 90+ days     —     46     46  
    Total delinquent accruing loans   $ 1,897   $ 965   $ 2,862  
             
    Non-Accrual Loan Summary   Organic Purchased Govt. Guaranteed Total
    (in thousands)  
             
    Loans on non-accrual   $ 26,285   $ —   $ 26,285  
    Non-accrual loans with SBA guarantees     10,979     —     10,979  
    Net Bank exposure to non-accrual loans   $ 15,306   $ —   $ 15,306  

    There was a $3.16 million provision for credit losses in the second quarter of 2025, compared to $291,000 provision for credit losses in the second quarter a year ago, and a $1.16 million provision for credit losses booked in the first quarter of 2025. The provision recorded during the second quarter of 2025 is the result of changes in loan portfolio concentrations, net charge-offs recognized, and a $10.92 million increase in total non-accrual loans which were individually evaluated in the allowance for credit losses.

    The ratio of allowance for credit losses to total loans was 1.40% at June 30, 2025, compared to 1.11% a year earlier and 1.18% at March 31, 2025. The Company individually evaluates non-accrual loans in the allowance for credit losses which has resulted in carrying a higher level of reserve.

    During the second quarter of 2025 the Bank recorded $949,000 in other real estate owned (“OREO”). This OREO was the result of a loan foreclosure completed during the quarter where the bank acquired a single-family-residence property as payment through collateral. The property is in good condition and is anticipated to sell during the second half of 2025.

    “As SBA loans have historically been the primary driver of nonperforming loans, the portfolio is watched very closely. Rates have increased so rapidly over the last two years putting pressure on borrowers. A majority of the loans within the portfolio are floating rate loans tied to WSJ Prime and reset quarterly. Borrowers saw a 50bps reduction in their rates on January 1, 2025 and additional rate relief may occur during the second half of 2025,” added Miller. “The ratio of allowance for credit losses to the total, non-guaranteed, loan portfolio was 1.48%, as of June 30, 2025, and our total non-guaranteed exposure on these SBA loans is $44.61 million spread over 222 loans.”

    “We incurred net charge offs of $605,000 during the current quarter, compared to $27,000 in net recoveries in the second quarter a year ago, and $167,000 in net charge offs in the previous quarter,” said Miller. “Our loan portfolio increased 13% from a year ago with commercial real estate (“CRE”) loans representing 63% of the total loan portfolio. Within the CRE portfolio, there are $49.90 million in loans for CRE office as shown in the table below. Since the majority of our CRE office exposure is concentrated in the Central Valley, we are experiencing less volatility than city center CRE markets. Our credit metrics remain strong as we continue to maintain conservative underwriting standards.”

    (in thousands)   CRE Office Exposure of June 30, 2025
    Region   Owner-Occupied Non-Owner Occupied Total
    Central Valley   $ 24,611   $ 17,268   $ 41,879  
    Southern California     2,262     350     2,612  
    Other California     4,463     417     4,880  
    Total California     31,336     18,035     49,371  
    Out of California     —     524     524  
    Total CRE Office   $ 31,336   $ 18,559   $ 49,895  


    About FFB Bancorp

    FFB Bancorp, formerly Communities First Financial Corporation, a bank holding company established in 2014, is the parent company of FFB Bank, founded in 2005 in Fresno, California. As a leading SBA Lender in California’s Central Valley and one of the few direct acquiring banks in the United States, FFB Bank offers clients a range of personal and business checking accounts, payment processes, and loan programs. Among the Bank’s awards and accomplishments, it was ranked #1 on American Banker’s list of the Top 20 Publicly Traded Banks under $2 Billion in Assets for 2024. The Bank was also ranked by S&P Global as the #34 best performing US community bank under $3 billion in assets. The Company has also received recognition as part of the OTCQX Best 50 Companies for 2019, 2023, and 2024. For additional information, you can visit the Company’s website at www.ffb.bank or by contacting a representative at 559-439-0200.

    Forward Looking Statements

    This earnings release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on managements’ expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company’s ability to effectively execute its business plans; the impact of the Consent Order on our financial condition and results of operations; changes in general economic and financial market conditions; changes in interest rates, and in particular, actions taken by the Federal Reserve to try and control inflation; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Company’s business; international developments; the tariff strategy of the Trump administration, and its related effects on the agriculture industry and connected businesses in the Central Valley; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company undertakes no obligation to release publicly the results of any revisions to the forward-looking statements included herein to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    Member FDIC

    Select Financial Information and Ratios   For the Quarter Ended:   Year to Date as of:
      June 30, 2025   March 31, 2025   June 30, 2024   June 30, 2025   June 30, 2024
    BALANCE SHEET – ENDING BALANCES:                    
    Total assets   $ 1,473,927     $ 1,560,376     $ 1,443,723          
    Total portfolio loans     1,091,964       1,092,441       969,764          
    Investment securities     254,177       313,826       345,491          
    Total deposits     1,234,648       1,320,381       1,168,957          
    Shareholders equity, net     173,908       174,711       148,640          
                         
    INCOME STATEMENT DATA                    
    Operating revenue     27,349       28,476       24,729       55,825       48,340  
    Operating expense     15,768       16,467       13,285       32,235       25,986  
    Pre-tax, pre-provision income     11,581       12,009       11,444       23,590       22,354  
    Net income after tax     6,036       8,098       8,076       14,134       15,866  
                         
    SHARE DATA                    
    Basic earnings per share   $ 1.95     $ 2.56     $ 2.54     $ 4.51     $ 5.00  
    Fully diluted EPS   $ 1.94     $ 2.55     $ 2.54     $ 4.50     $ 4.99  
    Book value per common share   $ 56.87     $ 55.52     $ 46.79          
    Common shares outstanding     3,057,874       3,146,727       3,176,611          
    Fully diluted shares     3,104,067       3,175,178       3,183,844       3,139,346       3,178,974  
    FFBB – Stock price   $ 78.00     $ 76.50     $ 89.00          
                         
    RATIOS                    
    Return on average assets     1.59 %     2.14 %     2.31 %     1.86 %     2.32 %
    Return on average equity     13.75 %     18.83 %     22.89 %     16.26 %     23.08 %
    Efficiency ratio     57.15 %     57.83 %     52.74 %     57.49 %     52.85 %
    Adjusted efficiency ratio     52.14 %     52.54 %     47.15 %     52.34 %     47.48 %
    Yield on earning assets     6.18 %     6.31 %     6.40 %     6.24 %     6.27 %
    Yield on investment securities     4.13 %     4.36 %     4.60 %     4.25 %     4.54 %
    Yield on portfolio loans     6.70 %     6.81 %     6.89 %     6.75 %     6.79 %
    Cost to fund earning assets     1.09 %     0.96 %     1.10 %     1.02 %     1.05 %
    Cost of interest-bearing deposits     2.81 %     2.60 %     2.75 %     2.71 %     2.73 %
    Net Interest Margin     5.09 %     5.35 %     5.31 %     5.22 %     5.22 %
    Equity to assets     11.80 %     11.20 %     10.30 %        
    Net loan to deposit ratio     88.44 %     82.74 %     82.96 %        
    Full time equivalent employees     181       175       147          
                         
    BALANCE SHEET – AVERAGES                    
    Total assets     1,525,601       1,531,573       1,407,255       1,528,570       1,377,447  
    Total portfolio loans     1,112,380       1,076,848       954,871       1,094,712       940,216  
    Investment securities     289,127       325,699       334,416       307,312       325,117  
    Total deposits     1,281,357       1,300,550       1,199,124       1,290,901       1,164,121  
    Shareholders equity, net     176,074       174,410       141,881       175,247       138,251  
    Consolidated Balance Sheet (unaudited)   June 30, 2025   March 31, 2025   June 30, 2024
    (in thousands)      
    ASSETS            
    Cash and due from banks   $ 55,897     $ 83,033     $ 46,477  
    Interest bearing deposits in banks     21,347       20,038       26,842  
    CDs in other banks     1,722       1,724       1,683  
    Investment securities     254,177       313,826       345,491  
    Loans held for sale     —       —       —  
                 
    Construction & land development     12,784       12,649       79,132  
    Residential RE 1-4 family     17,066       17,146       17,439  
    Commercial real estate     683,743       696,625       562,548  
    Agriculture     109,926       104,616       77,518  
    Commercial and industrial     266,810       260,063       232,786  
    Consumer and other     1,635       1,342       341  
    Portfolio loans     1,091,964       1,092,441       969,764  
    Deferred fees & discounts     (3,541 )     (3,946 )     (4,106 )
    Allowance for credit losses     (15,330 )     (12,913 )     (10,749 )
    Loans, net     1,073,093       1,075,582       954,909  
                 
    Non-marketable equity investments     9,809       8,890       8,440  
    Cash value of life insurance     12,594       12,496       12,211  
    Other real estate owned     949       —       —  
    Accrued interest and other assets     44,339       44,787       47,670  
    Total assets   $ 1,473,927     $ 1,560,376     $ 1,443,723  
                 
    LIABILITIES AND EQUITY            
    Non-interest bearing deposits   $ 759,300     $ 825,404     $ 731,030  
    Interest checking     75,815       109,555       75,907  
    Savings     49,657       54,686       51,052  
    Money market     183,071       218,940       184,495  
    Certificates of deposits     166,805       111,796       126,473  
    Total deposits     1,234,648       1,320,381       1,168,957  
    Short-term borrowings     16,000       10,000       68,000  
    Long-term debt     38,086       38,046       39,678  
    Other liabilities     11,285       17,238       18,448  
    Total liabilities     1,300,019       1,385,665       1,295,083  
                 
    Common stock     29,501       35,693       37,430  
    Retained earnings     162,272       156,235       129,856  
    Accumulated other comprehensive loss     (17,865 )     (17,217 )     (18,646 )
    Shareholders’ equity     173,908       174,711       148,640  
    Total liabilities and shareholders’ equity   $ 1,473,927     $ 1,560,376     $ 1,443,723  
    Consolidated Income Statement (unaudited)   Quarter ended:   Year ended:
    (in thousands)   June 30, 2025   March 31, 2025   June 30, 2024   June 30, 2025   June 30, 2024
                         
    INTEREST INCOME:                    
    Loan interest income   $ 18,582     $ 18,069     $ 16,354     $ 36,651     $ 31,726  
    Investment income     2,978       3,499       3,823       6,477       7,335  
    Int. on fed funds & CDs in other banks     270       574       316       844       572  
    Dividends from non-marketable equity     141       132       394       272       523  
    Total interest income     21,971       22,274       20,887       44,244       40,156  
                         
    INTEREST EXPENSE:                    
    Int. on deposits     3,288       2,891       3,008       6,178       5,526  
    Int. on short-term borrowings     126       31       109       158       258  
    Int. on long-term debt     451       451       464       902       929  
    Total interest expense     3,865       3,373       3,581       7,238       6,713  
    Net interest income     18,106       18,901       17,306       37,006       33,443  
    PROVISION FOR CREDIT LOSSES     3,157       1,164       291       4,321       670  
    Net interest income after provision     14,949       17,737       17,015       32,685       32,773  
                         
    NON-INTEREST INCOME:                    
    Total deposit fee income     854       849       847       1,703       1,643  
    Debit / credit card interchange income     215       191       186       407       353  
    Merchant services income     6,609       7,864       6,068       14,473       12,137  
    Gain on sale of loans     1,446       261       509       1,707       961  
    Loss on sale of investments     (243 )     —       (459 )     (243 )     (833 )
    Other operating income     362       410       272       772       636  
    Total non-interest income     9,243       9,575       7,423       18,819       14,897  
                         
    NON-INTEREST EXPENSE:                    
    Salaries & employee benefits     8,002       8,056       6,724       16,058       13,306  
    Occupancy expense     352       353       437       705       820  
    Merchant services operating expense     2,887       3,174       2,664       6,060       5,023  
    Other operating expense     4,527       4,884       3,460       9,412       6,837  
    Total non-interest expense     15,768       16,467       13,285       32,235       25,986  
                         
    Income before provision for income tax     8,424       10,845       11,153       19,269       21,684  
    PROVISION FOR INCOME TAXES     2,388       2,747       3,077       5,135       5,818  
    Net income   $ 6,036     $ 8,098     $ 8,076     $ 14,134     $ 15,866  
    ASSET QUALITY   June 30, 2025   March 31, 2025   June 30, 2024
    (in thousands)      
    Delinquent accruing loans 30-60 days   $ 1,796     $ 17,533     $ 1,046  
    Delinquent accruing loans 60-90 days     1,020       1,537       175  
    Delinquent accruing loans 90+ days     46       46       1,052  
    Total delinquent accruing loans   $ 2,862     $ 19,116     $ 2,273  
                 
    Loans on non-accrual   $ 26,285     $ 15,366     $ 11,250  
    Other real estate owned     949       —       —  
    Nonperforming assets   $ 27,234     $ 15,366     $ 11,250  
                 
    Delinquent 30-60 / Total Loans     0.16 %     1.60 %     0.11 %
    Delinquent 60-90 / Total Loans     0.09 %     0.14 %     0.02 %
    Delinquent 90+ / Total Loans     — %     — %     0.11 %
    Delinquent Loans / Total Loans     0.26 %     1.75 %     0.23 %
    Non-accrual / Total Loans     2.41 %     1.41 %     1.16 %
    Nonperforming assets to total assets     1.85 %     0.98 %     0.78 %
                 
    Year-to-date charge-off activity            
    Charge-offs   $ 772     $ 167     $ —  
    Recoveries     —       —       31  
    Net charge-offs (recoveries)   $ 772     $ 167     $ (31 )
    Annualized net loan losses to average loans     0.14 %     0.06 %     (0.01 )%
                 
    CREDIT LOSS RESERVE RATIOS:            
    Allowance for credit losses   $ 15,330     $ 12,913     $ 10,749  
                 
    Total loans   $ 1,091,964     $ 1,092,441     $ 969,764  
    Purchased govt. guaranteed loans   $ 15,138     $ 16,081     $ 18,141  
    Originated govt. guaranteed loans   $ 38,224     $ 45,285     $ 41,201  
                 
    ACL / Total loans     1.40 %     1.18 %     1.11 %
    ACL / Loans less 100% govt. gte. loans (purchased)     1.42 %     1.20 %     1.13 %
    ACL / Loans less all govt. guaranteed loans     1.48 %     1.25 %     1.18 %
    ACL / Total assets     1.04 %     0.83 %     0.74 %
    SELECT FINANCIAL TREND INFORMATION   For the Quarter Ended:
      June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024
    BALANCE SHEET – PERIOD END            
    Total assets   $ 1,473,927   $ 1,560,376   $ 1,504,128   $ 1,512,241   $ 1,443,723  
    Loans held for sale     —     —     —     —     —  
    Loans held for investment     1,091,964     1,092,441     1,071,079     998,222     969,764  
    Investment securities     254,177     313,826     322,186     345,428     345,491  
                 
    Non-interest bearing deposits     759,300     825,404     828,508     826,708     731,030  
    Interest bearing deposits     475,348     494,977     455,869     460,241     437,927  
    Total deposits     1,234,648     1,320,381     1,284,377     1,286,949     1,168,957  
    Short-term borrowings     16,000     10,000     —     —     68,000  
    Long-term debt     38,086     38,046     38,007     37,967     39,678  
                 
    Total equity     191,773     191,928     186,574     176,350     167,286  
    Accumulated other comprehensive loss     (17,865 )   (17,217 )   (18,182 )   (12,715 )   (18,646 )
    Shareholders’ equity     173,908     174,711     168,392     163,635     148,640  
                 
    QUARTERLY INCOME STATEMENT            
    Interest income   $ 21,971   $ 22,274   $ 22,403   $ 21,404   $ 20,887  
    Interest expense     3,865     3,373     3,591     3,617     3,581  
    Net interest income     18,106     18,901     18,812     17,787     17,306  
    Non-interest income     9,243     9,575     9,435     7,616     7,423  
    Gross revenue     27,349     28,476     28,247     25,403     24,729  
                 
    Provision for credit losses     3,157     1,164     1,671     762     291  
                 
    Non-interest expense     15,768     16,467     13,270     12,735     13,285  
    Net income before tax     8,424     10,845     13,306     11,906     11,153  
    Tax provision     2,388     2,747     3,588     3,343     3,077  
    Net income after tax     6,036     8,098     9,718     8,563     8,076  
                 
    BALANCE SHEET – AVERAGE BALANCE            
    Total assets   $ 1,525,601   $ 1,531,573   $ 1,529,439   $ 1,477,259   $ 1,704,255  
    Loans held for sale     —     —     —     —     —  
    Loans held for investment     1,112,380     1,076,848     1,038,215     982,152     954,871  
    Investment securities     289,127     325,699     333,135     343,096     334,416  
                 
    Non-interest bearing deposits     812,753     850,426     838,748     822,200     758,977  
    Interest bearing deposits     468,604     450,124     460,321     432,143     440,147  
    Total deposits     1,281,357     1,300,550     1,299,069     1,254,343     1,199,124  
    Short-term borrowings     11,110     2,856     951     —     10,053  
    Long-term debt     38,068     38,028     37,989     39,479     39,660  
                 
    Shareholders’ equity     176,074     174,410     167,268     161,363     141,881  
    Contact: Steve Miller – President & CEO
      Bhavneet Gill – EVP & CFO
      (559) 439-0200

    The MIL Network –

  • MIL-OSI: Usio to Host Second Quarter 2025 Conference Call to Discuss Results and Provide Company Update on August 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN ANTONIO, July 23, 2025 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq:USIO), a leading provider of integrated, cloud-based electronic payment and embedded financial solutions, today announced it will release second quarter 2025 financial results for the period ended June 30, 2025, after the market closes on Wednesday, August 6, 2025.

    Usio’s management will host a conference call the same day, August 6, 2025, beginning at 4:30 p.m. Eastern time to review financial results and provide a business update. Following management’s formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should call 1-888-999-6281. International callers should call 1-848-280-6550. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company’s website at usio.com/events/.

    A replay of the call will be available approximately one hour after the end of the call through August 20, 2025. The replay can be accessed via the Company’s website or by dialing 1-877-344-7529 (U.S.), 1-855-669-9658 (Canada) or 1-412-317-0088 (all other international). The replay conference playback code is: 9584705.

    About Usio, Inc.
    Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, integrated software vendors and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services clients through its unique payment facilitation platform as a service. The company, through its Usio Output Solutions division, offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the card issuing sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas.

    Websites: www.usio.com and www.akimbocard.com. 
    Find us on LinkedIn, Facebook® and Twitter.

    FORWARD-LOOKING STATEMENTS DISCLAIMER

    Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief, and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2024. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

    Contact
    Paul Manley
    Senior Vice President, Investor Relations
    paul.manley@usio.com
    612-834-1804

    The MIL Network –

  • MIL-OSI United Kingdom: Government unveils updates to Private Fund Regime and Sound Business Practice Policy23 July 2025 The first two initiatives which will help to protect and grow Jersey’s financial services sector have been announced. The Jersey Private Fund, JPF, regime has been modernised to be better aligned with… Read more

    Source: Channel Islands – Jersey

    23 July 2025

    The first two initiatives which will help to protect and grow Jersey’s financial services sector have been announced. 

    The Jersey Private Fund, JPF, regime has been modernised to be better aligned with the needs of international professional investors. 

    Proposals to simplify the Sound Business Practice Policy, SBPP, have been published which, once approved, will streamline its application whilst a more comprehensive review of this framework is undertaken. 

    Both initiatives are part of the Competitiveness Programme and were unveiled at its launch event. 

    Jersey Private Fund 

    The Minister with responsibility for Financial Services, Deputy Ian Gorst, has signed a Ministerial Order to update the JPF. 

    Effective from 6 August 2025, the revised JPF Guide and a new statutory instrument, the Collective Investment Funds (Jersey Private Funds) Order, will come into force. 

    These changes will: 

    • remove the 50-offer / investor cap; 
    • expand the definition of professional investor; 
    • permit the listing of interests in JPFs with the Jersey Financial Services Commission’s consent; and 
    • introduce a 24-hour authorisation process for JPF applications submitted by registered Designated Service Providers.

    Jill Britton, Director General of the JFSC, said: “The updated JPF regime is a significant step, keeping Jersey’s fund offering evolving with the needs of industry. JPFs continue to be a regulated product that investors can have confidence in – these changes streamline the regime and, together with our commitment to faster authorisation, we are underscoring our commitment to excellent service.” 

    Joe Moynihan, CEO, Jersey Finance, said: “Since its launch in 2017, the JPF has become Jersey’s fastest-growing fund category, particularly well-suited to private equity, venture capital and real asset strategies. As private capital continues to evolve globally, these updates will further increase Jersey’s appeal to managers and professional investors seeking flexible and well-regulated fund solutions.” 

    Deputy Gorst said: “These revisions follow industry engagement and reflect a broader global movement toward bespoke, efficient private fund vehicles for professional investors. They provide certainty for fund promoters and reinforce Jersey’s appeal as a jurisdiction of choice for private capital.” 

    Sound Business Practice Policy 

    The SBPP, jointly developed by Government of Jersey and the JFSC, identifies ‘sensitive activities’ which require additional information or scrutiny before the JFSC consents to them. The Codes of Practice for investment business, funds service business, certified funds and trust and company businesses all require registered persons to have due regard to the SBPP. 

    The SBPP has served Jersey well in understanding and managing risk, but updates are required to ensure it remains fit for modern-day business. 

    The proposed amendments simplify its scope of application, reducing potential business frictions and delays. The “Repeal of the Control of Borrowing Framework”, recently published by the Government of Jersey, includes a review of the SBBP framework with a view to establish a more flexible risk-based approach in the medium-term. 

    Jill Britton said: “This is about modernising regulation while taking a progressive stance against financial crime. Refining the SBPP removes unnecessary complexity and enables firms to focus on what matters, identifying and managing real risk. It’s a shift toward more intelligent regulation, where the emphasis is on outcomes and accountability, not just process”. 

    Joe Moynihan added: “We welcome the simplification of the SBPP, which should have a material impact on Jersey’s competitiveness as an IFC that is very much open for high quality business. These changes, which are in response to industry feedback, are another good example of our agility as an IFC and the positive collaborative relationship there is between industry, the Government of Jersey and the JFSC.” 

    Deputy Gorst said: “This change will enable businesses to do what they already do well: determine the risk of their activity and to act accordingly. Jersey has a mature and sophisticated financial services sector, and this change acknowledges that. The simplification of the SBPP does not reduce Jersey’s commitment to combatting financial crime but rather acknowledges that the industry understand risk and allows them to take greater responsibility for managing it.” 

    Competitiveness Programme 

    The Competitiveness Progamme has brought together government, the regulator and industry with the goal of protecting Jersey’s current economic strength, while unlocking new pathways for growth over the next ten years. 

    The programme is organised around four strategic workstreams, with each designed to address a key dimension of Jersey’s competitiveness: 

    • International Tax Strategy – focusing on creating a tax framework that keeps Jersey competitive and compliant in a fast-changing global landscape. 
    • Business and Regulatory Environment – delivering practical, quick-impact improvements to ease of doing business and regulatory efficiency, while also shaping longer-term reforms. 
    • External Growth Strategy – comparing Jersey’s strengths and weaknesses, opportunities and threats, against global trends and competing jurisdictions, this stream will offer data-driven insights and targeted investment opportunities to fuel long-term, realisable international growth. 
    • Future Competitiveness and Regulation – bringing together a high-level panel of global experts to synthesise and prioritise the findings from across the workstreams, producing an independent report for Ministers. 

    At the end of this process of research and reflection, the Government will publish a final report and action plan in 2026 that will shape Jersey’s strategy into the next decade.

    These efforts align closely with other major initiatives such as Jersey Finance’s Vision2050 and the JFSC’s registry and strategic reviews, which ensures that workstreams are not happening in silos, but as part of a broader, coordinated vision. 

    For more on the Financial Services Competitiveness Programme, please see: Financial services competitiveness programme​​.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The first project within the framework of the Global Development Initiative has been launched in Belarus

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    MINSK, July 23 (Xinhua) — The project “Protection of Belarus Forests: A Comprehensive Initiative for Local-Level Fire Preparedness, Prevention and Response” was launched in Minsk on Wednesday. This is the first project under the Global Development Initiative, supported by the Chinese government’s Global Development and South-South Cooperation Fund, in Belarus. The financial assistance will amount to 2 million U.S. dollars.

    The project is financed by the Global Development Fund and South-South Cooperation and is being implemented jointly with the United Nations Development Programme /UNDP/ and the Ministry of Forestry of Belarus. It envisages equipping Belarusian forestry enterprises and fire departments with the latest fire-fighting equipment and machinery, increasing the effectiveness of early warning and rapid response to forest fires, and reducing the threat of natural disasters to natural resources, life and property of citizens.

    During the ceremony, the Minister of Forestry of Belarus Alexander Kulik expressed sincere gratitude to the Government of China and UNDP for their support and cooperation. He noted that global climate change creates serious challenges in the field of forest fire protection, and for Belarus, where forests cover more than 40 percent of the country’s territory, this issue is of particular importance. He noted that the project of the Global Development Fund and South-South Cooperation will strengthen the material and technical base of the forestry of Belarus in the field of fire prevention.

    During the event, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Belarus Zhang Wenchuan noted that since its establishment in 2015, the Global Development and South-South Cooperation Fund has managed to significantly improve the well-being of people, strengthen the potential of recipient countries and make a significant contribution to the implementation of the UN Agenda for Sustainable Development until 2030. “I am confident that this project will become a new model of cooperation between China and Belarus in the joint implementation of the Global Development Initiative, giving new impetus to the friendship between the two countries and practical cooperation in various fields,” Zhang Wenchuan said.

    In turn, UNDP Resident Representative in Belarus Liu Renfei noted that the program welcomes the Global Development Initiative put forward by China as a contribution to accelerating the achievement of sustainable development goals by developing countries. The initiative reflects a commitment to multilateral cooperation under the auspices of the UN and South-South cooperation, and the Global Development and South-South Cooperation Fund turns these commitments into concrete results, helping developing countries implement projects in practice. This provides unique opportunities to strengthen global partnership and improve people’s lives. “UNDP cooperates with all member countries, including China, following the principles of international development, strengthening the multilateral framework and accelerating the achievement of the SDGs,” Liu Renfei summarized. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Global Blockchain Artificial Intelligence Market Size Estimated to Reach $4.33 Billion By 2034

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 23, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The global blockchain Artificial Intelligence (AI) market is rapidly evolving due to the influence of its secure and decentralized technology and advanced data processing capabilities provided by AI with blockchain. A recent report from Precedence Research said: “The market has a considerable expansion rate due to rising demand for efficient data handling, data transparency, and security. Key applications for the market are supply-chain management, healthcare domain, BFSI, fraud detection methods, etc. Major tech companies are investing heavily in the development and research to enhance the functionalities of blockchain AI technology and integrate AI algorithms into the blockchain.” It projected: “The global blockchain AI market size was calculated at USD 550.70 million in 2024 and is expected to reach around USD 4,338.66 million by 2034. The market is expanding at a solid CAGR of 22.93% over the forecast period 2024 to 2033. An increasing amount of data generation pervades almost every sector, which needs to be analyzed precisely with advanced technology like AI and blockchain to provide a secure ledger system. Based on a regional perspective, North America currently dominates the blockchain AI technology market, while Asia Pacific shows the highest growth rate owing to technological advancements and supportive regulatory backup. Despite the number of benefits, the blockchain AI market is challenged by some hurdles, like the need for a highly skilled workforce and limitations in scalability. However, as the technology grows and matures with time, these hurdles will be mitigated. Thus, the market presents a promising future and the potential to transform several industries.”   Active companies in the markets this week include: Intellistake Technologies Corp. (CSE: ISTK) (OTC: ISTKF), Strategy Incorporated (NASDAQ: MSTR), Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY), MARA Holdings, Inc. (NASDAQ: MARA), Riot Platforms, Inc. (NASDAQ: RIOT).

    Precedence Research continued: “The primary driver for the blockchain AI market is the highly secure and immutable ledger system offered by blockchain, which further provides decentralization data that aids in reliable transactions and reduces data privacy concerns. Blockchain AI systems can be deployable in major industries like automation, healthcare, electronics and services, banking, fiancé, etc., due to their data integrity to avoid financial loss and, thereby, the reputation of firms or institutes. When AI is combined with blockchain, which excels at analyzing and processing vast amount of data, it holds potential to create more efficient and secure system is substantial. Moreover, the integration of blockchain and AI can enhance the functionalities of smart contracts and decentralized applications to foster innovations and new business models, which again propels the blockchain AI market. Furthermore, AI can enhance security measures by detecting and mitigating fraudulent activities on blockchain networks, thus building greater trust among users. By combining AI’s data processing capabilities with blockchain’s transparency and security, this integration can drive the next wave of innovation in financial services, making them more accessible, efficient, and secure.”

    Intellistake Technologies Corp. (CSE: ISTK) (OTC: ISTKF) Appoints Mario Casiraghi, Leading AI Digital Asset Ecosystem CFO at SingularityNET Foundation and CEO of Established $90M USD AUM Digital Asset Firm Singularity Venture Hub, to Advisory Board to Bridge Traditional Finance and Digital Asset Markets – Intellistake Technologies Corp. (FSE: 3KZ) (“GFCO” or the “Company”) is pleased to announce the appointment of Mario Casiraghi to its Advisory Board. A globally recognized financial strategist with over a decade of experience bridging traditional capital markets and decentralized technology. Casiraghi will provide strategic guidance to support the Company’s operations as a technology company focused on decentralized artificial intelligence (“AI”) and digital currencies.

    Casiraghi brings exceptional expertise from both traditional finance and the digital asset ecosystem. As a former investment banker at Bank of America Merrill Lynch and ING Bank, he executed over $80 billion in structured transactions across Europe and the United States, including the landmark $46 billion AB InBev acquisition financing—the second-largest corporate debt offering in U.S. history. His traditional finance background includes 15+ major debt capital markets transactions and liability management exercises for Fortune 500 companies.

    Recognizing the transformative potential of blockchain technology, Casiraghi transitioned from traditional investment banking to become a pioneer in digital asset infrastructure. In 2020, he became Group CFO of SingularityNET Foundation and co-founded SingularityDAO Labs, where he led a $6 million USD Series A funding round and scaled the decentralized finance protocol to manage up to $200 million USD in total value locked.

    In his role as Group CFO, Casiraghi has scaled a multi-token digital ecosystem from $40 million USD to over $5 billion USD market cap, positioning him as one of the leading financial architects in decentralized AI infrastructure. He led the structuring of the Artificial Superintelligence Alliance (ASI)—a $6 billion USD token-based merger between three of the world’s largest decentralized AI networks, representing one of the most significant consolidations in blockchain and artificial intelligence history. As part of this ecosystem expansion, he participated in the $100 million USD acquisition of Cudos, the largest decentralized compute network in Web 3.0 by available computing power.

    “Mario’s unique combination of traditional finance background and deep understanding of digital asset ecosystems makes him a great addition to our Advisory Board,” said Jason Dussault, CEO of Intellistake Technologies Corp. “His experience executing billion-dollar transactions in both traditional and digital markets provides invaluable perspective as we build infrastructure bridging AI and blockchain technology.”

    Casiraghi is also Founder and CEO of Singularity Venture Hub, a venture and treasury advisory firm managing over $90 million USD in assets. The firm provides capital allocation strategy, risk governance, and regulatory structuring to fast-scaling AI and blockchain companies.

    “Mario’s expertise will strengthen Intellistake’s role of providing traditional investors with regulated access to the intersection of artificial intelligence and blockchain technology through familiar stock exchange mechanisms,” added Mr. Dussault.

    “Joining the advisory board at Intellistake is a natural progression in what has already been a strong and growing relationship” said Mario Casiraghi, CEO of Singularity Venture Hub. “I’ve had the privilege of working closely with their team and have been consistently impressed by their vision and execution. This next step allows us to converge even more deeply on the innovative work Intellistake is doing in decentralized finance and AI—two sectors I believe are shaping the future.” CONTINUED… Read this full press release and more news for Intellistake Technologies at:   https://www.financialnewsmedia.com/news-istk/

    Other recent developments in the blockchain/digital currency industry of note include:

    Strategy Incorporated (NASDAQ: MSTR), the largest corporate holder of Bitcoin and the world’s first Bitcoin Treasury Company, recently announced the general availability of Strategy Mosaic™, a groundbreaking AI-powered Universal Intelligence Layer designed to enable AI applications. As organizations modernize their data infrastructures, they often encounter challenges with siloed systems that lead to inconsistent metrics and governance gaps. This lack of clean, connected, and organized data is one of the greatest barriers to AI adoption. Strategy Mosaic addresses this issue by connecting disparate data sources across the enterprise, providing consistent and secure access to information that empowers both business users and AI applications.

    Sitting atop any database or data warehouse, Strategy Mosaic allows organizations to access diverse data sources. This unified layer supports AI, applications, and analytics use cases, enabling rapid development of data products without the need for custom data warehouses. Unlike traditional data catalogs and virtual data warehouses, Mosaic uses business definitions and user-friendly objects to represent data.

    Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) recently announced that it will report second quarter 2025 financial results before the opening of Nasdaq and the Toronto Stock Exchange on Tuesday August 5th, 2025. Michael Novogratz, CEO and Founder of Galaxy, and members of management will host a conference call to provide an update to investors and analysts on the Company’s activities and results on the same day at 8:30 AM Eastern Time.

    A live webcast will be available at https://investor.galaxy.com/. The conference call can also be accessed by investors and analysts in the United States or Canada by dialing 1-844-746-0741, or +1-412-317-5107(outside the U.S. and Canada) using the Conference ID: 2449863. A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company’s Investor Relations website.

    MARA Holdings, Inc. (NASDAQ: MARA), a vertically integrated digital energy and infrastructure company that leverages high-intensity compute, such as bitcoin (“bitcoin” or “BTC”) mining, to monetize excess energy and optimize power management, recently published unaudited bitcoin production updates for April 2025.

    “In April, our production saw a 15% month-over-month decrease in blocks won, as global hashrate had its second largest monthly gain on record and mining difficulty grew 8% from March,” said Fred Thiel, MARA’s chairman and CEO. “Despite these headwinds, our energized hashrate grew 5.5% over the prior month. We completed a 50-megawatt (“MW”) expansion at our fully owned data center in Ohio, bringing total operational capacity to 100 MW, with the site designed to scale up to 200 MW. Additionally, we installed over 12,000 S21 Pro miners at the location.

    “Last month, we fully energized our 25 MW gas-to-power operations across wellheads in North Dakota and Texas. These sites currently provide us with our lowest cost per BTC mined while monetizing excess gas and mitigating methane emissions for the producers.

    Riot Platforms, Inc. (NASDAQ: RIOT) recently announced the hiring of Jonathan Gibbs as Chief Data Center Officer (“CDCO”) to lead the development of Riot’s data center platform. In this role, Jonathan will lead the strategic development and operations of this new platform, which will focus on building and operating state-of-the-art data centers specifically tailored to serve hyperscale and enterprise tenants.

    The creation of this new data center platform furthers Riot’s strategy to maximize the value of its assets by expanding into the development of non-bitcoin-related data centers, which diversifies the Company’s revenues, enhances Riot’s ability to generate long-term cash returns for investors and strengthens its capabilities to contract with the world’s leading technology companies. This additional platform will build on the success of Riot’s vertically-integrated strategy of utilizing bitcoin mining at scale to create significant value across its land and power portfolio and positions the Company to capitalize on the upsurge in demand for digital infrastructure driven by the growing need for cloud computing, AI and other compute-intensive applications.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

    Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

    Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty two hundred dollars for news coverage of the current press releases issued by Intellistake Technologies Corp. by the company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 

    SOURCE: FN Media Group, LLC.

    The MIL Network –

  • MIL-OSI: Matador Technologies Inc. Secures USD $100 Million Financing Facility to Accelerate Bitcoin Treasury Growth

    Source: GlobeNewswire (MIL-OSI)

    Key Highlights

    • Strategic Capitalization: Matador has executed a Purchase Agreement for a USD $100 million secured convertible note facility (the “Facility”) with ATW Partners, featuring an initial USD $10.5 million tranche.
    • Exclusive Use of Proceeds: Proceeds are earmarked for purchasing Bitcoin as part of Matador’s treasury allocation strategy, with the intention of increasing long-term Bitcoin-per-share (BPS).
    • Institutional Partnership: ATW Partners—an institutional investor known for structuring growth-stage financings—brings both capital and strategic depth to Matador’s Bitcoin ecosystem vision.

      Flexible, Equity-Aligned Structure: The secured convertible notes provide minimally dilutive, price-adaptive funding that converts at market-aligned prices.

    • Accelerates Treasury Plan: Supports Matador’s roadmap to acquire up to 1,000 BTC on or before 2026 and 6,000 BTC on or before 2027, targeting a top 20 global corporate holder position.

    TORONTO, July 23, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) (“Matador” or the “Company”), the Bitcoin Ecosystem Company, announces that it has entered into an arm’s-length agreement for a secured convertible note facility (the “Facility”) with ATW Partners (the “Investor”), signed on July 22, 2025 (the “Purchase Agreement“), pursuant to which the Company may issue convertible notes (“Notes“) in the aggregate principal amount of up to USD $100 million.

    The Facility provides a structured funding mechanism designed to support the Company’s stated objective of increasing its Bitcoin holdings. USD $10.5 million will be funded at the Initial Closing, while USD $89.5 million of additional capacity remains available subject to customary conditions, including execution of a registration-rights agreement and receipt of all required regulatory approvals. The Facility marks a significant financing step in the execution of the Company’s treasury strategy. The Facility will be used exclusively to purchase Bitcoin for Matador’s balance sheet, reinforcing its strategy to become a top 20 corporate holder globally.

    Deven Soni, CEO of Matador Technologies, commented:

    “This financing represents meaningful progress toward our long-term Bitcoin accumulation goals. It provides the Company with capital to increase our Bitcoin holdings in a way that minimizes immediate dilution and aligns with our broader capital strategy.”

    Mark Moss, Chief Visionary Officer of Matador Technologies, added:

    “Bitcoin remains central to our business model and balance sheet approach. This structure supports our objective of growing Bitcoin per share and reflects continued institutional interest in our strategy.”

    This funding supports Matador’s long-term BTC strategy, including:

    • Acquiring up to 1,000 BTC on or before 2026
    • Reaching 6,000 BTC on or before 2027
    • Long-term objective to hold 1% of Bitcoin’s supply and be a top 20 corporate holder globally

    The Notes will carry an interest rate of 8% per annum and the maturity date of the Notes will be approximately two years from the applicable closing date. The Notes will be senior secured, with the Initial Closing backed by 1.5x Bitcoin collateral, and future tranches secured by 1.0x Bitcoin collateral. The Notes will be convertible at the closing price immediately prior to the related news release. As it relates to the Initial Closing, the conversion price will be CAD$0.72.

    The Notes, and the common shares issuable upon conversion, will be issued outside of Canada pursuant to Ontario Securities Commission Rule 72-503 – Distributions Outside Canada, and accordingly will not be subject to any statutory hold period under Canadian securities laws. A copy of the Purchase Agreement is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    Joseph Gunnar & Co., LLC acted as placement agent for the transaction. For the Initial Closing, the placement agent will receive a placement fee of 5% in cash on the net proceeds received by the Company, a capital markets advisory fee of 2.5% in cash on the net proceeds, and 5% fee in warrants. For any subsequent closings, the placement agent will receive a 5% cash placement fee on the net proceeds received by the Company.

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network
    Phone: 647-496-6282

    About Matador Technologies Inc.
    Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) is a publicly traded Bitcoin ecosystem company focused on holding Bitcoin as its primary treasury asset and building products to enhance the Bitcoin network. Matador’s strategy combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, with a focus on driving long-term shareholder value while maintaining capital efficiency.

    Matador has recently proposed to expand its global footprint by entering into an agreement to invest in HODL Systems, one of India’s first digital asset treasury companies, securing up to a 24% ownership stake. This investment strengthens Matador’s position as a leading Bitcoin treasury company and underscores its commitment to the worldwide adoption of Bitcoin as a reserve asset.

    With a Bitcoin-first strategy, and a clear focus on innovation, Matador is shaping the future of financial infrastructure on Bitcoin.

    Visit us online at https://www.matador.network/.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE 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.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements that are not historical facts are forward-looking statements, including, without limitation: (i) statements regarding the structure, terms, and anticipated benefits of the Facility; (ii) expectations relating to the timing and completion of the initial USD$10.5 million tranche and subsequent drawdowns, upon terms as presently proposed or at all; (iii) the use of proceeds from the Facility for purchasing Bitcoin; (iv) the Company’s ability to meet its Bitcoin accumulation targets, including 1,000 BTC on or before 2026, 6,000 BTC on or before 2027, and a long-term goal of holding 1% of Bitcoin’s total supply; and (v) the Company’s strategy to grow Bitcoin-per-share (BPS) and become a top 20 global corporate BTC holder.

    Forward-looking information is based on management’s reasonable assumptions at the time such statements are made, including assumptions regarding market conditions, the price and availability of Bitcoin, regulatory and stock exchange approvals, and the Company’s ability to execute its strategic plans and secure additional capital on acceptable terms.

    Forward-looking statements are subject to various risks and uncertainties, including: fluctuations in Bitcoin price and trading volume; availability and terms of financing; satisfaction of conditions related to future drawdowns under the Facility; the impact of potential penalties and payments under the Facility on the liquidity and future prospects of the Company; potential risks associated with the Company committing an event of default under the Facility and the potential implications thereof; regulatory risk; changes in the Company’s business model or execution plans; and the potential that the Company will not receive applicable regulatory approval of the Facility or any individual drawdown thereunder.. There can be no assurance that the Company will meet its BTC accumulation targets, receive any applicable regulatory approvals, complete any tranches of the Facility, or achieve its broader strategic objectives within the projected timelines or at all.

    Forward-looking statements are provided to offer information about management’s current expectations and plans and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such forward-looking information. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

    The MIL Network –

  • MIL-OSI: Matador Technologies Inc. Secures USD $100 Million Financing Facility to Accelerate Bitcoin Treasury Growth

    Source: GlobeNewswire (MIL-OSI)

    Key Highlights

    • Strategic Capitalization: Matador has executed a Purchase Agreement for a USD $100 million secured convertible note facility (the “Facility”) with ATW Partners, featuring an initial USD $10.5 million tranche.
    • Exclusive Use of Proceeds: Proceeds are earmarked for purchasing Bitcoin as part of Matador’s treasury allocation strategy, with the intention of increasing long-term Bitcoin-per-share (BPS).
    • Institutional Partnership: ATW Partners—an institutional investor known for structuring growth-stage financings—brings both capital and strategic depth to Matador’s Bitcoin ecosystem vision.

      Flexible, Equity-Aligned Structure: The secured convertible notes provide minimally dilutive, price-adaptive funding that converts at market-aligned prices.

    • Accelerates Treasury Plan: Supports Matador’s roadmap to acquire up to 1,000 BTC on or before 2026 and 6,000 BTC on or before 2027, targeting a top 20 global corporate holder position.

    TORONTO, July 23, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) (“Matador” or the “Company”), the Bitcoin Ecosystem Company, announces that it has entered into an arm’s-length agreement for a secured convertible note facility (the “Facility”) with ATW Partners (the “Investor”), signed on July 22, 2025 (the “Purchase Agreement“), pursuant to which the Company may issue convertible notes (“Notes“) in the aggregate principal amount of up to USD $100 million.

    The Facility provides a structured funding mechanism designed to support the Company’s stated objective of increasing its Bitcoin holdings. USD $10.5 million will be funded at the Initial Closing, while USD $89.5 million of additional capacity remains available subject to customary conditions, including execution of a registration-rights agreement and receipt of all required regulatory approvals. The Facility marks a significant financing step in the execution of the Company’s treasury strategy. The Facility will be used exclusively to purchase Bitcoin for Matador’s balance sheet, reinforcing its strategy to become a top 20 corporate holder globally.

    Deven Soni, CEO of Matador Technologies, commented:

    “This financing represents meaningful progress toward our long-term Bitcoin accumulation goals. It provides the Company with capital to increase our Bitcoin holdings in a way that minimizes immediate dilution and aligns with our broader capital strategy.”

    Mark Moss, Chief Visionary Officer of Matador Technologies, added:

    “Bitcoin remains central to our business model and balance sheet approach. This structure supports our objective of growing Bitcoin per share and reflects continued institutional interest in our strategy.”

    This funding supports Matador’s long-term BTC strategy, including:

    • Acquiring up to 1,000 BTC on or before 2026
    • Reaching 6,000 BTC on or before 2027
    • Long-term objective to hold 1% of Bitcoin’s supply and be a top 20 corporate holder globally

    The Notes will carry an interest rate of 8% per annum and the maturity date of the Notes will be approximately two years from the applicable closing date. The Notes will be senior secured, with the Initial Closing backed by 1.5x Bitcoin collateral, and future tranches secured by 1.0x Bitcoin collateral. The Notes will be convertible at the closing price immediately prior to the related news release. As it relates to the Initial Closing, the conversion price will be CAD$0.72.

    The Notes, and the common shares issuable upon conversion, will be issued outside of Canada pursuant to Ontario Securities Commission Rule 72-503 – Distributions Outside Canada, and accordingly will not be subject to any statutory hold period under Canadian securities laws. A copy of the Purchase Agreement is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    Joseph Gunnar & Co., LLC acted as placement agent for the transaction. For the Initial Closing, the placement agent will receive a placement fee of 5% in cash on the net proceeds received by the Company, a capital markets advisory fee of 2.5% in cash on the net proceeds, and 5% fee in warrants. For any subsequent closings, the placement agent will receive a 5% cash placement fee on the net proceeds received by the Company.

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network
    Phone: 647-496-6282

    About Matador Technologies Inc.
    Matador Technologies Inc. (TSXV:MATA, OTCQB:MATAF, FSE:IU3) is a publicly traded Bitcoin ecosystem company focused on holding Bitcoin as its primary treasury asset and building products to enhance the Bitcoin network. Matador’s strategy combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, with a focus on driving long-term shareholder value while maintaining capital efficiency.

    Matador has recently proposed to expand its global footprint by entering into an agreement to invest in HODL Systems, one of India’s first digital asset treasury companies, securing up to a 24% ownership stake. This investment strengthens Matador’s position as a leading Bitcoin treasury company and underscores its commitment to the worldwide adoption of Bitcoin as a reserve asset.

    With a Bitcoin-first strategy, and a clear focus on innovation, Matador is shaping the future of financial infrastructure on Bitcoin.

    Visit us online at https://www.matador.network/.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE 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.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements that are not historical facts are forward-looking statements, including, without limitation: (i) statements regarding the structure, terms, and anticipated benefits of the Facility; (ii) expectations relating to the timing and completion of the initial USD$10.5 million tranche and subsequent drawdowns, upon terms as presently proposed or at all; (iii) the use of proceeds from the Facility for purchasing Bitcoin; (iv) the Company’s ability to meet its Bitcoin accumulation targets, including 1,000 BTC on or before 2026, 6,000 BTC on or before 2027, and a long-term goal of holding 1% of Bitcoin’s total supply; and (v) the Company’s strategy to grow Bitcoin-per-share (BPS) and become a top 20 global corporate BTC holder.

    Forward-looking information is based on management’s reasonable assumptions at the time such statements are made, including assumptions regarding market conditions, the price and availability of Bitcoin, regulatory and stock exchange approvals, and the Company’s ability to execute its strategic plans and secure additional capital on acceptable terms.

    Forward-looking statements are subject to various risks and uncertainties, including: fluctuations in Bitcoin price and trading volume; availability and terms of financing; satisfaction of conditions related to future drawdowns under the Facility; the impact of potential penalties and payments under the Facility on the liquidity and future prospects of the Company; potential risks associated with the Company committing an event of default under the Facility and the potential implications thereof; regulatory risk; changes in the Company’s business model or execution plans; and the potential that the Company will not receive applicable regulatory approval of the Facility or any individual drawdown thereunder.. There can be no assurance that the Company will meet its BTC accumulation targets, receive any applicable regulatory approvals, complete any tranches of the Facility, or achieve its broader strategic objectives within the projected timelines or at all.

    Forward-looking statements are provided to offer information about management’s current expectations and plans and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such forward-looking information. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

    The MIL Network –

  • MIL-OSI Submissions: Caution in the C-suite: How business leaders are navigating Trump 2.0

    Source: The Conversation – USA (2) – By Erran Carmel, Professor of Business, American University Kogod School of Business

    In the first months of Donald Trump’s second term as president, his policies – from sweeping tariffs and aggressive immigration enforcement to attacks on diversity, equity and inclusion – have thrown U.S. businesses into turmoil, leading to a 26-point decline in CEO confidence.

    Yet despite this volatility, many American corporations have remained notably restrained in their public responses.

    This might come as a surprise. After all, in recent decades, CEOs have become increasingly willing to speak out about social and political issues. But while some universities and law firms have publicly pushed back against the Trump administration, business leaders are seemingly opting for caution.

    What would it take for these titans of corporate America to speak out against Trump’s policies? We are a professor and a graduate student who study business, and back in 2018, one of us – Dr. Carmel – conducted an analysis asking this very question. More recently, we gathered new data looking at how business leaders are responding to Trump’s second term.

    The 2018 analysis, involving data from about 200 leading U.S. CEOs, found that most business leaders remained publicly neutral on Trump, and only a handful expressed strong opposition. Silence was often a strategic choice, with many leaders staying mum due to fear of retaliation. The evidence also suggested that Trump could one day cross a line that would prompt a broader CEO backlash.

    Seven years later, that line hasn’t yet appeared, even as Trump’s footprint on corporate America is now far more direct and substantial.

    Most notable are Trump’s tariffs, first announced in April 2025, which have roiled global markets and unnerved CEOs. And there are many other ripples: Some companies, such as CBS’ parent company, Paramount – which is seeking the Trump administration’s approval for a merger – have decided to self-censor. Others, including Disney and Meta, gave in to Trump’s lawsuits and paid multimillion-dollar settlements, against the counsel of many outside experts. CEOs also have to deal with the threat of backlash from both the right and left.

    Against this backdrop, we collected new public data to see how corporate leaders are responding to the second Trump administration. Just as in 2018, we examined the 232 companies that make up the Business Roundtable – a club of the most powerful American businesses.

    We assessed the actions that these companies took regarding DEI and whether they experienced any backlash. We focused on these criteria as a way to assess whether CEOs are seeking either to support or placate Trump, or to stand on other principles. We also collected other data, including public statements from CEOs and campaign donations.

    DEI as a bellwether

    Corporate DEI actions were an early, useful way to gauge a business’s stances, since, from the outset, the Trump administration identified DEI as a “scourge” to be eliminated. Although the White House’s anti-DEI directives have applied to the executive branch and federal contractors, some private businesses rushed to make changes as well.

    By May, just a bit over 100 days into Trump’s second term, a significant number of companies had decided to go along with Trump’s preferences. Sixty-nine of the 232 companies in the Business Roundtable rolled back their DEI initiatives in some way, while just 20 companies announced that they kept their DEI programs in place. There’s no information either way on the remaining 61% – likely because they decided it’s better to stay out of the news.

    DEI-related actions have tapered off since May, but there’s still an impact. For example, the Federal Communications Commission pressured T-Mobile to eliminate DEI. Only then was its merger approved.

    Companies that scaled back their DEI initiatives sometimes pointed to the political environment as a factor. Meta, for example, said in an internal memo that it was ending its DEI efforts due to a “shifting legal and policy landscape.” Other companies, including Verizon and Comcast, reportedly rolled back DEI programs because they feared legal action by the federal government.

    Some corporations announced changes through internal announcements, legal filings or quiet updates to their websites, suggesting they want to stay out of the media spotlight.

    A small number of Business Roundtable companies stood firm on their DEI policies – to mixed results. When Marriott’s CEO voiced support for DEI at a corporate leadership event, he reportedly received 40,000 appreciative emails from employees. On the other hand, after Coca-Cola reiterated its “commitment to sponsoring an inclusive workplace,” the right-wing activist Robby Starbuck — who The New York Times has described as “the anti-DEI agitator that companies fear most” – said Coca-Cola “should be very nervous about continuing with its woke policies.”

    Bracing for backlash

    Overall, 22% of Business Roundtable companies saw some sort of backlash to their actions. Most came from the political right: 36 companies were called out by conservatives, another eight by progressives, and eight more faced bipartisan backlash.

    With more than three years left in Trump’s second term, it’s worth asking what lies ahead. We think the most likely scenario is that companies will continue to try to stay off the president’s radar and placate him when they must. After all, following the split with Elon Musk, Trump quite explicitly threatened to use presidential powers to hurt Musk’s businesses. Any CEO gets the implications.

    While our analysis primarily focused on social issues, policies at the business core may push U.S. companies to confront Trump. Tariff policy is a prime example. Back in April, major retailers like Walmart quietly warned Trump that tariffs could lead to empty shelves and higher prices. More recently, the CEO of Goldman Sachs publicly warned that tariffs “have raised the level of uncertainty to a degree I do not think is healthy for investment and growth.”

    These are voices of criticism – but worded quite softly.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Caution in the C-suite: How business leaders are navigating Trump 2.0 – https://theconversation.com/caution-in-the-c-suite-how-business-leaders-are-navigating-trump-2-0-260557

    MIL OSI –

  • MIL-OSI United Kingdom: Welsh Crown Estate Devolution Bill a step closer to becoming law

    Source: Party of Wales

    Plaid Cymru urge UK Government to reconsider its stance ahead of the Bill’s third reading in the Lords

    A Bill that would transfer responsibility for the Crown Estate in Wales to the Welsh Government has passed the report stage in the House of Lords without opposition and is now set for its third reading.

    The Crown Estate (Devolution to Wales) Bill, introduced by Plaid Cymru peer Dafydd Wigley, seeks to ensure that Welsh natural resources – including seabed rights and offshore wind developments – are managed from Wales and for the benefit of the people of Wales.

    The Bill draws on precedent set by the UK Government in devolving the Crown Estate to Scotland via the Scotland Act 2016. In 2023–24, Scotland benefited by £113 million in revenue from its devolved Crown Estate. In contrast, the Crown Estate in Wales remains reserved to Westminster, and Senedd Cymru receives no such direct benefit.

    During the debate on the Bill’s Committee stage, Lord Wigley highlighted the overwhelming political and civic support for the move, noting that all of Wales’s 22 local authorities – across a range of political parties – have passed resolutions calling for the devolution of the Crown Estate.

    Plaid Cymru urged the UK Government now to support Dafydd Wigley’s Bill when it returns to the House of Lords for its third reading after the summer recess, which would then allow it to be transferred to the House of Commons.

    The party’s energy spokesperson, Llinos Medi MP, said it gave “new momentum” to Plaid Cymru’s campaign to devolve the Crown Estate.

    The UK Labour government rejected Plaid Cymru’s calls for control over the Crown Estate to be given to ministers in Wales in February, with Labour MPs – including those from Wales, voting against an amendment by Llinos Medi MP to the government’s Crown Estate Bill. 

    Plaid Cymru Peer, Dafydd Wigley said:

    “Wales has a history of exploitation of our natural resources, whether it is coal or other minerals, or our water resources, on which Birmingham and London now increasingly depend. We likewise see the exploitation of our energy potential – wave, sea currents, estuarial waters and wind on shore and in the seas around our coast.

    “My Plaid Cymru colleagues and I want to see the maximum possible benefit from such projects coming into the Welsh economy; we want to see that happen in a planned manner that recognises the financial benefit that should rightly come to those who invest in such projects, but also to the communities in which they are based.

    “Given this Bill has passed its Report Stage unopposed in the Lords, given the unanimous support of all Welsh councils towards the principle of the Bill, as well as the support of the Welsh Government, the UK Government should reflect on this issue and support my Bill when it returns for its Third Reading after the summer recess, and subsequently when it comes to the Commons, to make time available for MPs to discuss it further.”

    Plaid Cymru Energy spokesperson, Llinos Medi MP, added:

    “The passing of this Bill’s Report Stage in the House of Lords gives new momentum to the campaign to devolve the Crown Estate. Combined with the unanimous support across all Welsh councils, it’s clear that the UK Government must now reconsider its stance.

    “The UK Government can no longer justify keeping these powers in Westminster. If Scotland can control its own natural resources, then Wales deserves nothing less. This is about fairness, accountability, and empowering Welsh communities to shape their own future.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Scottish Greens propose holiday homes tax to protect Gaelic language

    Source: Scottish Greens

    22 Jul 2025 Housing

    Holiday homes are increasing house prices out and hollowing out communities

    More in Housing

    The Scottish Greens have unveiled new plans to protect Gaelic-speaking communities by increasing taxes on holiday homes and Airbnb-style short term lets. The move is designed to tackle the acute housing crisis in Gaelic communities and to support young people who want to stay in the areas they have grown up in.

    The party’s finance spokesperson, Ross Greer MSP, intends to force a vote on the proposals when Holyrood considers amendments to the Housing Bill in the autumn. His amendments would allow ministers to levy a special surcharge on those buying holiday homes or other additional properties in areas with high numbers of Gaelic speakers, such as Skye and the Outer Hebrides.

    Average house prices in Skye are £60,000 higher than the national average and one local councillor recently estimated that almost 60% of local properties were either holiday homes or short term lets. This is forcing many young people off the island and putting Gaelic’s survival as a community language at risk. Lack of available housing is commonly cited as a key reason why Gaelic is now on the edge of extinction in its historic communities.

    Greer’s proposals follow the Scottish Parliament recently passing the Scottish Languages Act, which allows for communities where Gaelic is widely spoken to be designated as “Areas of Linguistic Significance”. The additional charge on holiday homes purchases the Scottish Green MSP has put forward would apply in the areas with this designation.

    Ross Greer said:

    “Gaelic is an essential part of Scottish culture and national identity, but it is on the verge of extinction as a living language. We need to take bold action immediately, or the decline will be impossible to reverse. The Languages Act is a good starting point, but we know that one of the biggest threats to the language is the housing crisis in areas like Skye.

    “Young Gaelic speakers are being forced out of the last communities where it is still the spoken language because holiday homes and Airbnb-style short term lets have driven up house prices to levels they cannot hope to compete with. As a result, they are forced to move to areas where they cannot use Gaelic in their everyday interactions. This is one of the biggest threats to Gaelic’s continued existence. 

    “My proposals would make it harder for wealthier people to buy up second homes and short-term lets in Gaelic-speaking communities and in turn make it easier for locals, especially first-time buyers, to secure their own home.

    “Changes to Council Tax already delivered by Scottish Green MSPs reduced the number of second and holiday homes across Scotland by 2,500 last year, freeing up more properties for people who need a home to live in. We can build on this success with further targeted actions and ensure that our Gaelic-speaking communities can thrive rather than be treated purely as holiday parks for tourists and the super-rich.”

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Global Small and Medium Enterprises (SME) Ministerial opens: Small businesses key constituency in global trade, say South African SME minister, International Trade Centre (ITC) head

    Source: APO


    .

    The inaugural Global SME Ministerial Meeting opened today, marking a milestone in recognizing small and medium-sized enterprises as a key constituency in global trade. 

    The high-level event is co-hosted by the South African Department of Small Business Development (DSBD) and the International Trade Centre (ITC), with main events taking place on 23-24 July. The Ministerial was preceded by the Trade Promotion Organizations Leadership Dialogue on 22 July, in which heads of national trade promotion organizations developed strategies to better engage with SME ministers to bring the voice of small business into policymaking.

    Watch the livestream of the Ministerial high-level opening.

    More than 700 delegates from more than 60 countries are participating in the Ministerial, including ministers, heads of delegation, heads of national trade promotion organizations, business leaders and entrepreneurs. Ministerial-level delegates convened from across the world, from Bangladesh to Brazil, from Cameroon to Costa Rica, from Senegal to Switzerland, from the United Arab Emirates to the United Kingdom.  

    In her welcome remarks, South African Minister of Small Business Development Stella Tembisa Ndabeni said: ‘Let this Ministerial Meeting mark the beginning of a bold new global compact for MSME development; one that expands access to markets, unlocks affordable finance, accelerates digital inclusion, and ensures that women, youth and underserved communities are not spectators, but architects of economic transformation.’

    She added: ‘Let us commit to practical, measurable actions that position MSMEs as central pillars of resilience, innovation and sustainability. Let us work towards a global enabling ecosystem, where no entrepreneur is left behind because of where they live, how much they earn, or who they are.’

    In her welcome remarks, ITC Executive Director Pamela Coke-Hamilton said: ‘Now, this Ministerial is no talk shop. This is no place for posturing or politics. This is a space for us to marshal our collective knowledge and our energy and find solutions across the three areas that will bring the benefits of trade within reach of more SMEs: access to finance, digital transformation and green competitiveness.’

    Addressing ministerial-level delegates, she said: ‘When you go back to your capitals, your ministries, your cabinet meetings and your meetings with heads of state and government, you’ll be taking back with you concrete solutions, with the evidence to back them up.’

    Expected outcomes include the endorsement of a call-to-action in which countries align on the three main areas that will harness the development of SMEs—access to finance, digital transformation and green competitiveness —and develop a roadmap for future Ministerial Meetings to take place every two years, to ensure discussions produce outcomes for countries. 

    See the latest information on the Ministerial on the Global SME Ministerial Meeting landing page.

    Distributed by APO Group on behalf of International Trade Centre.

    MIL OSI Africa –

  • MIL-OSI Africa: Agricultural cooperatives in Senegal: Driving the sector’s modernization

    Source: APO


    .

    With an agricultural sector that employs more than 909,000 households, according to ANSD, organizing Senegal’s producers into well-equipped, operational cooperatives is a key lever for achieving the goals of the Senegal Vision 2050.

    The West Africa Competitiveness Programme in Senegal (PACAO-Senegal) serves as a relevant model as it supported the creation or compliance of 29 cooperative societies as well as strengthened their managerial and organizational capacities. Together, these cooperatives bring together over 545 producer organizations active in the mango and onion value chains. 

    Among these 29 cooperatives, the Cooperative Society for Support to Production, Processing, and Marketing (SCAPTC) of Pout (Thiès) perfectly illustrates the impact of this support.

    Created in 2021, the Cooperative SCAPTC covers four municipalities in the Thiès region (Pout, Diander, Keur Moussa, and Moroland) and brings together almost 2,940 members, including 20 producer organizations and over 20 individuals. Specializing in onion production, the cooperative was born from an urgent need to structure and professionalize producers who previously worked in a scattered manner, without coordination or appropriate management tools.

    Doudou Diop, President of the Board of Directors of the SCAPTC, recalls the difficult beginnings: “Before our cooperative society was born, our groups were not even structured. We didn’t have statutes or internal regulations. We each worked on our own, without a common strategy.”

    With support from PACAO-Senegal, SCAPTC benefited from training in financial management, leadership, conflict resolution, and strategic planning, which enabled its members to transform an informal structure into a high-performing, sustainable organization.

    Mamadou Lèye, a doctoral student in applied physics at Cheikh Anta Diop University committed to agriculture, combines his studies with farm work and serves as the Secretary General of SCAPTC. He says: “We learned to manage our cooperative like a business. We now organize our meetings efficiently, manage our finances rigorously, and resolve internal conflicts constructively. All these skills, acquired through PACAO-Senegal’s support, are key to our success.”

    Today, SCAPTC is cited as an example in the region for its rigorous management and effective organization. “Other cooperatives and even the supervising ministry send experts to study our model and draw inspiration from it,” adds Mamadou Lèye proudly.

    Amy Ndiaye, hired by PACAO-Senegal as a community development officer, confirms this transformation: “Meetings are held regularly, the General Assembly is organized every year, and members have become autonomous in managing their activities. SCAPTC has become a benchmark model in the region.”

    The members of SCAPTC have improved their yields and incomes. “Today, we have full control of our activity from A to Z, from production to marketing. It has changed our lives,” says Doudou Diop.

    From informal to a benchmark model, SCAPTC illustrates the transformative potential of cooperative societies. Thanks to targeted support, they become frameworks for structuring, formalizing, and strengthening agricultural value chains, thereby contributing to achieving the goals of Senegal Vision 2050.

    Distributed by APO Group on behalf of International Trade Centre.

    MIL OSI Africa –

  • Over 2.22 crore SC students benefitted from scholarships in last 5 years: Centre

    Source: Government of India

    Source: Government of India (4)

    The Union government on Wednesday informed Parliament that more than 2.22 crore Scheduled Caste students have received scholarships over the past five years under two key central schemes aimed at promoting higher education among disadvantaged communities.

    In a written reply during the ongoing Monsoon Session of Parliament, Union Minister of State for Social Justice and Empowerment Ramdas Athawale said that 2,22,31,139 SC students benefitted from the Post Matric Scholarship (PMS) Scheme, while 20,340 others received assistance under the Top-Class Education Scheme.

    Athawale said that the financial assistance has helped reduce the economic burden on SC families, enabling students to access quality education and improve their academic prospects.

    He noted that beneficiaries have enrolled in premier institutions across the country, including Indian Institute of Technology (IITs), Indian Institute of Management (IIMs), Indian Institute of Information Technology (IIITs), All India Institute of Medical Sciences (AIIMS), National Institute of Technology (NITs), National Institute of Fashion Technology (NIFT), National Institute of Design (NIDs), Institute of Hotel Management (IHMs) and National Law University (NLUs).

    “These schemes have contributed significantly to enhancing the educational standard of SC students and promoting socio-economic mobility by addressing both economic and social disadvantages,” the minister added.

  • ADB projects India’s GDP to grow at 6.5% in 2025, 6.7% in 2026 amid strong domestic demandion

    Source: Government of India

    Source: Government of India (4)

    The Asian Development Bank (ADB) on Wednesday projected that India’s GDP will grow at 6.5% in 2025 and a robust 6.7% in 2026, driven by strong domestic demand, a normal monsoon, and monetary easing.

    Inflation in India is expected to stay well within the Reserve Bank of India’s target range, with headline inflation projected at 3.8% for 2025 and 4.0% for 2026, according to the ADB. A sharp decline in food prices has helped ease overall price pressures, with Consumer Price Index (CPI) inflation falling to 2.1% in June — the lowest level in over six years — as food inflation turned negative.

    India’s real GDP growth is projected to range between 6.4% and 6.7% this fiscal year, reaffirming the country’s position as the fastest-growing major economy in the world, the Confederation of Indian Industry (CII) said earlier this month.

    Meanwhile, ADB has lowered its growth forecasts for developing Asia and the Pacific for both this year and the next. The downward revisions are attributed to weaker exports due to higher US tariffs and global trade uncertainty, as well as subdued domestic demand.

    According to the Asian Development Outlook (ADO) July 2025, the region’s economies are now expected to grow by 4.7% this year, a 0.2 percentage point decrease from April’s projection. The 2026 forecast has also been revised downward to 4.6% from 4.7%.

    The outlook for developing Asia and the Pacific could worsen further if US tariffs and trade tensions escalate. Other risks include geopolitical conflicts that could disrupt global supply chains and drive up energy prices, as well as a deeper-than-expected slump in China’s property market.

    “Asia and the Pacific have weathered an increasingly challenging external environment this year. But the economic outlook has weakened amid intensifying risks and global uncertainty,” said ADB Chief Economist Albert Park.

    “Economies in the region should continue strengthening their fundamentals and promoting open trade and regional integration to support investment, employment, and growth,” Park added.

    Growth projections for the People’s Republic of China (PRC), the region’s largest economy, remain unchanged at 4.7% for this year and 4.3% for next year. Southeast Asian economies are expected to be hit hardest by deteriorating trade conditions and rising uncertainty. ADB now forecasts growth of 4.2% for the subregion this year and 4.3% next year—both figures roughly half a percentage point lower than the April estimates.

    — IANS

  • Indian stock market surges amid value buying, Sensex jumps 540 points

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market settled in positive territory on Wednesday following buying in banking, financial services, automobiles and healthcare sectors amid positive global cues surrounding the US-Japan trade pact.

    Sensex closed at 82,726.64, up 539.83 or 0.66 per cent. The 30-share index opened with a decent gap-up at 82,451.87 against last session’s closing value of 82,186.81. The index soared further to hit an intraday high of 82,786.43, following buying interest in heavyweights like Tata Motors, Bharti Airtel and ICICI Bank.

    Nifty 50 closed at 25,219.90, up 159 points or 0.63 per cent.

    “The day was characterised by robust performance across key sectors such as Banking, Financial Services, Automobiles, Healthcare, and Information Technology. In contrast, pockets of weakness persisted in Realty, Media, Consumer Goods, and Metals, reflecting a sectorally bifurcated landscape,” said Ashika Institutional Equities in its note.

    On the global stage, investor sentiment soared following optimistic developments surrounding the US-Japan trade pact, igniting expectations for further international agreements shortly.

    Tata Motors, Bharti Airtel, Bajaj Finance, Maruti Suzuki, Bajaj FinServ, HDFC Bank, ICICI Bank, Eternal, Asian Paints, and SBI were top gainers from the Sensex’s stocks. Hindustan Unilever, Infosys, and Ultratech Cements ended the session in red.

    Meanwhile, 37 stocks advanced and 13 shares declined from Nifty50.

    Among sectoral indices, Nifty Bank settled 454 points or 0.80 per cent higher, Nifty Auto surged 203 points or 0.85 per cent and Nifty IT closed 92.60 points or 0.25 per cent up. Nifty FMCG declined.

    Broader indices followed the gaining momentum as well. Nifty Net 50 surged 159 points, Nifty 100 rallied 0.55 per cent or 142 points, and Nifty Midcap 100 ended the session up 203 points or 0.34 per cent. Nifty Smallcap 100 settled flat.

    Rupee traded flat in a narrow range near 86.40, with marginal movement of 0.01 per cent against the dollar. The dollar index also remained steady around 97.40 as markets awaited further cues.

    “Domestic capital markets gained 0.65 per cent, while Fed Chair Powell’s recent speech kept the dollar range-bound. Attention now shifts to next week’s U.S. interest rate decision, which will be a key directional trigger. Rupee is expected to trade within a range of 85.80–86.70,” said Jateen Trivedi of LKP Securities.

    (IANS)

  • Govt clears six semiconductor projects worth ₹1.55 lakh crore, over 27,000 jobs on cards

    Source: Government of India

    Source: Government of India (4)

    The Centre has so far approved six semiconductor manufacturing projects, entailing a cumulative investment of around ₹1.55 lakh crore. These are expected to generate over 27,000 direct jobs, the Parliament was informed on Wednesday.

    Minister of State for Commerce and Industry Jitin Prasada said the approvals are part of the government’s ₹76,000-crore ‘Semicon India Programme’, aimed at building a semiconductor and display manufacturing ecosystem in the country.

    “Semiconductor manufacturing is a highly specialised industry involving complex processes. Most of the jobs created are skilled roles,” Prasada said in a written reply. He added that the sector, being foundational, is likely to have a cascading impact on employment across other industries and supply chains.

    As part of the Design Linked Incentive (DLI) scheme, fiscal support has been extended to 22 approved startups and MSMEs. Of these, three design companies are based in Telangana, where 11 others have received design infrastructure support. Additionally, 22 institutes in the state are being supported under the Chips to Startup (C2S) programme, with six receiving financial assistance.

    Tamil Nadu also has three approved companies under the DLI scheme, while six firms have received design infrastructure support.

    The C2S programme targets the development of 85,000 skilled professionals in the semiconductor sector. So far, over 45,000 students from 100 institutions have enrolled. The government is providing engineering colleges with design tools and software to support chip design training.

    In 2022, the Skilled Manpower Advanced Research and Training (SMART) Lab was set up at NIELIT Calicut, with the goal of training one lakh engineers. Over 42,000 engineers have been trained so far, the minister said.

    The government is also working with global industry and academic partners including Lam Research, IBM, and Purdue University to build capacity in chip design and manufacturing.

    IANS