Category: Economy

MIL-OSI New Zealand: Transforming financial education in schools
Source: New Zealand Government

Financial education will be embedded as a core element of the refreshed social sciences curriculum for Year 1-10 students, set to be available for use from 2026, Education Minister Erica Stanford announced today.

“Embedding essential skills into the curriculum will ensure our young people are better prepared to make informed financial decisions in a complex financial world. This will positively impact their lives and the broader economy,” says Minister Stanford.

For younger students the curriculum will cover key financial skills, such as identifying needs versus wants, having a bank account, earning, spending and saving. Older students will gain the knowledge needed to understand more complex concepts, such as budgeting, investment, interest, taxes, and insurance to help to build lifelong financial skills. We have already included financial maths in the new maths curriculum, which is being delivered this year.

To support the implementation of financial education in the new curriculum, a variety of tools and resources, developed in collaboration with financial organisations, banks, and charitable trusts, will be available to schools, ensuring they can effectively deliver the curriculum.

A new partnership between the Ministry of Education and the Retirement Commission will map the offerings from financial education providers against the updated curriculum. The Retirement Commission’s work with providers will ensure consistent curriculum-aligned supports and resources, giving schools confidence in their delivery.

This resource map will be extended into senior secondary years with guidance and resources for Year 11-13 students, supporting schools to flexibly deliver ongoing financial education to their students.

“As the Minister responsible for the Retirement Commission, I absolutely believe that strengthening financial education is crucial to our Government’s focus on economic growth. We are all consumers, and financial literacy can set young Kiwis up to be savvy consumers – whether it’s knowing how to invest wisely, choose the best loan at a bank, or even identify a scam,” Commerce and Consumer Affairs Minister Scott Simpson says.

“We know that New Zealand parents have long called for financial education to be a priority. This curriculum update answers those calls, ensuring students are equipped with the knowledge to thrive in both personal and financial aspects of their lives,” says Minister Stanford.

This initiative marks a significant step forward in New Zealand’s education system, placing a strong emphasis on real-world skills that will empower students to take control of their financial futures.

Notes to Editor:

Providers working with the Retirement Commission include:
- Sorted in Schools (Retirement Commission)
- Banqer
- MoneyTime
- Life Education
- Young Enterprise Trust
- Savvy
- Westpac
- ASB
- Kiwi bank
- BNZ
A draft of the updated social sciences learning area will be available in Term 4, 2025 for feedback. An updated version will be available for schools to use in 2026, and is planned to be required from 2027.

MIL OSI New Zealand News –
April 30, 2025
MIL-OSI USA: Hickenlooper, Bennet, Neguse Demand Commerce Department Reverse Planned Cuts to NOAA, Colorado-Based Research Centers
US Senate News:
Source: United States Senator for Colorado John Hickenlooper

WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet, along with Representative Joe Neguse, urged Secretary of Commerce Howard Lutnick to preserve funding for the National Oceanic and Atmospheric Administration (NOAA) and its Cooperative Institutes (CIs) following recent reports that the Trump administration plans to cut funding for NOAA in its upcoming budget proposal.

“Cooperative Institutes are integral to solving some of our biggest problems and making all of us safer and better prepared for short-term and long-term hazards. Any plan to terminate funding for NOAA CIs would be detrimental not just to the people of Colorado, but to people across the entire country,” wrote the lawmakers.

Colorado is the only state in the nation to house two CIs, which are academic and nonprofit research centers that provide invaluable support to NOAA’s mission.
- The Cooperative Institute for Research in Environmental Sciences (CIRES), located at the University of Colorado Boulder, is the oldest and largest CI. It employs nearly 800 researchers, support staff, and students focused on research related to drought, wildfire, and space weather.
- The Cooperative Institute for Research in the Atmosphere (CIRA), located at Colorado State University, employs nearly 200 individuals who are working to improve weather and fire forecasting.
“We strongly condemn any such plan and believe terminating this funding would be extremely short-sighted and costly to the American people and economy in the long run,” continued the lawmakers.

Read their full letter HERE.
MIL OSI USA News –
April 30, 2025
MIL-OSI Russia: Government meeting (2025, No. 15)

Translation. Region: Russian Federal

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

1. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 788656-8 “On Amendments to Article 21 of the Federal Law “On Limited Liability Companies””

The draft amendments take into account the comments and suggestions made during the consideration of the bill in the State Duma.

2. On the draft federal law “On Amendments to Article 26 of the Federal Law “On Banks and Banking Activities” (in terms of providing information on transactions, accounts and deposits of individuals and legal entities for the purpose of implementing the powers to suspend transactions with cash, electronic money)

The bill is aimed at increasing the efficiency and effectiveness of combating crimes committed using information and communication technologies.

3. On the draft federal law “On Amendments to the Criminal Procedure Code of the Russian Federation”

The bill is aimed at establishing legal grounds for extrajudicial suspension of transactions with cash, electronic money, and advance payments used in criminal activities.

4. On the draft federal law “On Amendments to Article 187 of the Criminal Code of the Russian Federation”

The bill is aimed at improving legal mechanisms for combating crimes committed using electronic means of payment and access to them, which are used to circulate funds obtained through criminal means.

5. On the draft federal law “On Amending Article 5 of the Federal Law “On Concession Agreements””

The draft law was developed with the aim of granting state and (or) municipal unitary enterprises the authority to participate on the side of the concession grantor in obligations under the concession agreement, including the transfer to the concessionaire of the right to own and use the property of the air transport infrastructure, without formalizing the intermediate transfer of this property to the concession grantor.

6. On the allocation of budgetary appropriations to Rosmorrechflot in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of financial support for the implementation of urgent work to localize emergency zones in the areas where parts of the tankers Volgoneft-212 and Volgoneft-239 sank as a result of their wreck in the Kerch Strait on December 15, 2024

The adoption of the draft order will ensure the localization and elimination of possible oil spills from tankers that sank as a result of the wreck in the Kerch Strait on December 15, 2024.

7. On the draft federal law “On the All-Russian public organization “Russian Red Cross””

The draft federal law was developed with the aim of defining the legal status of the Russian Red Cross, the main areas of its activities, and the procedure for interaction with state authorities and local governments.

8. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 797740-8 “On Amending Article 32.4 of the Code of the Russian Federation on Administrative Offenses”

The draft amendments were prepared in order to clarify the procedure for the disposal of confiscated unmarked goods.

9. On the allocation of budgetary appropriations from the reserve fund of the Government of the Russian Federation to the Ministry of Education of Russia in 2025 for the provision of subsidies from the federal budget to the budgets of individual constituent entities of the Russian Federation for the implementation of regional projects that provide for measures to create educational and industrial clusters in individual constituent entities of the Russian Federation within the framework of the federal project “Professionalism”

The draft order is aimed at ensuring the expansion of the federal project “Professionality”.

Moscow, April 29, 2025

The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

MIL OSI Russia News –

April 30, 2025

MIL-OSI: Silicon Motion Announces Results for the Period Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

Business Highlights

First quarter of 2025 sales decreased 13% Q/Q and decreased 12% Y/Y
- SSD controller sales: 1Q of 2025 decreased 10% to 15% Q/Q and decreased 20% to 25% Y/Y
- eMMC+UFS controller sales: 1Q of 2025 decreased 15% to 20% Q/Q and decreased 0% to 5% Y/Y
- SSD solutions sales: 1Q of 2025 decreased 20% to 25% Q/Q and decreased 35% to 40% Y/Y
Announced new $50 million share repurchase program

Financial Highlights

	1Q 2025 GAAP	1Q 2025 Non-GAAP*
• Net sales	$166.5 million (-13% Q/Q, -12% Y/Y)	$166.5 million (-13% Q/Q, -12% Y/Y)
• Gross margin	47.1%	47.1%
• Operating margin	5.9%	8.9%
• Earnings per diluted ADS	$0.58	$0.60

* Please see supplemental reconciliations of U.S. Generally Accepted Accounting Principles (“GAAP”) to all non-GAAP financial measures mentioned herein towards the end of this news release.

TAIPEI, Taiwan and MILPITAS, Calif., April 30, 2025 (GLOBE NEWSWIRE) — Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion,” the “Company” or “we”) today announced its financial results for the quarter ended March 31, 2025. For the first quarter of 2025, net sales (GAAP) decreased sequentially to $166.5 million from $191.2 million in the fourth quarter of 2024. Net income (GAAP) decreased to $19.5 million, or $0.58 per diluted American depositary share (“ADS”) (GAAP), from net income (GAAP) of $21.6 million, or $0.64 per diluted ADS (GAAP), in the fourth quarter of 2024.

For the first quarter of 2025, net income (non-GAAP) decreased to $20.3 million, or $0.60 per diluted ADS (non-GAAP), from net income (non-GAAP) of $29.4 million, or $0.87 per diluted ADS (non-GAAP), in the fourth quarter of 2024.

All financial numbers are in U.S. dollars unless otherwise noted.

First Quarter of 2025 Review

“Despite the challenging macro environment in the first quarter of 2025, we executed our plan and delivered quarterly revenue at the high end of our guided range and delivered another quarter of gross margin expansion,” stated Wallace Kou, President and CEO of Silicon Motion. “Our industry leading PCIe Gen 5 controller experienced stronger than expected demand during the quarter, partially driven by growing AI inference demands from white box server makers leveraging more mainstream hardware components. Our eMMC and UFS controllers also experienced better than expected demand given a rebound in the smartphone market and our ongoing market share gains. While the near-term remains challenging given the broader economic challenges associated with tariffs and potential trade wars, we remain focused on delivering strong, sustainable long-term growth through product diversification; expanding into new markets; and growing market share across our portfolio of consumer, enterprise, automotive, industrial and storage solutions.”

Key Financial Results

($ in millions, except per ADS amounts)	GAAP			Non-GAAP
($ in millions, except per ADS amounts)	1Q 2025	4Q 2024	1Q 2024	1Q 2025	4Q 2024	1Q 2024
Revenue	$166.5	$191.2	$189.3	$166.5	$191.2	$189.3
Gross profit	$78.4	$87.6	$85.1	$78.4	$87.9	$85.2
Percent of revenue	47.1%	45.8%	45.0%	47.1%	46.0%	45.0%
Operating expenses	$68.6	$69.9	$67.2	$63.6	$58.3	$62.5
Operating profit	$9.8	$17.7	$18.0	$14.9	$29.6	$22.6
Percent of revenue	5.9%	9.3%	9.5%	8.9%	15.5%	12.0%
Earnings per diluted ADS	$0.58	$0.64	$0.48	$0.60	$0.87	$0.64

Other Financial Information

($ in millions)	1Q 2025	4Q 2024	1Q 2024
Cash, cash equivalents, and restricted cash—end of period	$331.7	$334.3	$349.3
Routine capital expenditures	$7.0	$7.3	$5.0
Dividend payments	$17.0	$16.8	$16.8
Share repurchases	$24.3	—	—

During the first quarter of 2025, we had $11.7 million of capital expenditures, including $7.0 million for the routine purchases of testing equipment, software, design tools and other items, and $4.7 million for building construction in Hsinchu, Taiwan.

Returning Value to Shareholders

On February 6, 2025, we announced that our Board of Directors had authorized a new program for the Company to repurchase up to $50 million of our ADSs over a six-month period. In the first quarter of 2025, we repurchased $24.3 million of our ADSs at an average price of $56.96 per ADS.

Business Outlook

“We are rapidly expanding our market opportunities as we invest in new products and enter new markets, which we anticipate will drive improved revenue and profitability for many years to come. In 2025, we expect to benefit from the introduction of several new products, including our 8-channel PCIE Gen 5 controller, our 4-channel PCIe Gen 5 controller targeting the mass market that will be introduced in late 2025, our higher-end UFS 4.1 and new low-cost UFS 2.2 controllers that will ramp in the second half of 2025. We introduced our first MonTitan enterprise/AI-class products at the end of 2024, and we expect these to ramp-up production with our first customers in the second half of 2025. Additionally, we continue to expand our automotive product portfolio and our market share across multiple applications. While the near-term environment remains challenging given the macro environment, including the potential impact of tariffs and potential trade wars, we continue to believe we will see a strong rebound in the consumer markets in the second half of 2025, enhanced by our new product introductions, and we continue to target a revenue run rate of $1 billion as we exit the year.”

For the second quarter of 2025, management expects:

($ in millions, except percentages)	GAAP	Non-GAAP Adjustment	Non-GAAP
Revenue	$175 to $183 +5% to 10% Q/Q	—	$175 to $183 +5% to 10% Q/Q
Gross margin	47.0% to 48.0%	Approximately $0.1*	47.0% to 48.0%
Operating margin	6.6% to 9.2%	Approximately $3.1 to $4.1**	8.9% to 10.9%

* Projected gross margin (non-GAAP) excludes $0.1 million of stock-based compensation.
** Projected operating margin (non-GAAP) excludes $3.1million to $4.1 million of stock-based compensation and dispute related expenses.

Conference Call & Webcast:

The Company’s management team will conduct a conference call at 8:00 am Eastern Time on April 30, 2025.

Conference Call Details
Participants must register in advance to join the conference call using the link provided below. Conference access information (including dial-in information and a unique access PIN) will be provided in the email received upon registration.

Participant Online Registration:
https://register-conf.media-server.com/register/BI5c69a4c2d96041b59a2bf8a51cec1881

A webcast of the call will be available on the Company’s website at www.siliconmotion.com.

Discussion of Non-GAAP Financial Measures

To supplement the Company’s unaudited selected financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude stock-based compensation and other items, including gross profit (non-GAAP), gross margin (non-GAAP), operating expenses (non-GAAP), operating profit (non-GAAP), operating margin (non-GAAP), non-operating income (expense) (non-GAAP), net income (non-GAAP), and earnings per diluted ADS (non-GAAP). These non-GAAP measures are not in accordance with or an alternative to GAAP and may be different from similarly-titled non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measure. We compensate for the limitations of our non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

Our non-GAAP financial measures are provided to enhance the user’s overall understanding of our current financial performance and our prospects for the future. Specifically, we believe the non-GAAP results provide useful information to both management and investors as these non-GAAP results exclude certain expenses, gains and losses that we believe are not indicative of our core operating results and because they are consistent with the financial models and estimates published by many analysts who follow the Company. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with our forecasts, and for benchmarking our performance externally against our competitors. Also, when evaluating potential acquisitions, we exclude the items described below from our consideration of the target’s performance and valuation. Since we find these measures to be useful, we believe that our investors benefit from seeing the results from management’s perspective in addition to seeing our GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:

the ability to make more meaningful period-to-period comparisons of the Company’s on-going operating results;
the ability to better identify trends in the Company’s underlying business and perform related trend analysis;
a better understanding of how management plans and measures the Company’s underlying business; and
an easier way to compare the Company’s operating results against analyst financial models and operating results of our competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of each of the adjustments that we incorporate into our non-GAAP measures, as well as the reasons for excluding each of these individual items in our reconciliation of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges related to the fair value of restricted stock units awarded to employees. The Company believes that the exclusion of these non-cash charges provides for more accurate comparisons of our operating results to our peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact of share-based compensation on its operating results.

Restructuring charges relate to the restructuring of our underperforming product lines, principally the write-down of NAND flash, embedded DRAM and SSD inventory valuation and severance payments.

Dispute related expenses consist of legal, consultant, other fees and resolution related to the dispute.

Foreign exchange loss (gain) consists of translation gains and/or losses of non-US$ denominated current assets and current liabilities, as well as certain other balance sheet items, which result from the appreciation or depreciation of non-US$ currencies against the US$. We do not use financial instruments to manage the impact on our operations from changes in foreign exchange rates, and because our operations are subject to fluctuations in foreign exchange rates, we therefore exclude foreign exchange gains and losses when presenting non-GAAP financial measures.

Realized/Unrealized loss (gain) on investments relates to the disposal and net change in fair value of long-term investments.

Silicon Motion Technology Corporation Consolidated Statements of Income (in thousands, except percentages and per ADS data, unaudited)

	For Three Months Ended
	Mar. 31,	Dec. 31,	Mar. 31,
	2024	2024	2025
	($)	($)	($)
Net Sales	189,311	191,160	166,492
Cost of sales	104,191	103,560	88,125
Gross profit	85,120	87,600	78,367
Operating expenses
Research & development	54,392	54,156	55,026
Sales & marketing	6,304	7,360	7,115
General & administrative	6,474	8,350	6,460
Operating income	17,950	17,734	9,766
Non-operating income (expense)
Interest income, net	3,066	3,768	2,929
Foreign exchange gain, net	588	1,046	373
Realized/Unrealized gain(loss) on investments	(1,608)	956	3,296
Subtotal	2,046	5,770	6,598
Income before income tax	19,996	23,504	16,364
Income tax expense (benefit)	3,980	1,935	(3,099)
Net income	16,016	21,569	19,463

Earnings per basic ADS	0.48	0.64	0.58
Earnings per diluted ADS	0.48	0.64	0.58

Margin Analysis:
Gross margin	45.0%	45.8%	47.1%
Operating margin	9.5%	9.3%	5.9%
Net margin	8.5%	11.3%	11.7%

Additional Data:
Weighted avg. ADS equivalents	33,508	33,690	33,634
Diluted ADS equivalents	33,701	33,814	33,827

Silicon Motion Technology Corporation Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited)

	For Three Months Ended
	Mar. 31,	Dec. 31,	Mar. 31,
	2024	2024	2025
	($)	($)	($)
Gross profit (GAAP)	85,120	87,600	78,367
*Gross margin (GAAP)*	45.0%	45.8%	47.1%
Stock-based compensation (A)	72	162	73
Restructuring charges	–	164	–
Gross profit (non-GAAP)	85,192	87,926	78,440
*Gross margin (non-GAAP)*	45.0%	46.0%	47.1%

Operating expenses (GAAP)	67,170	69,866	68,601
Stock-based compensation (A)	(3,093)	(9,585)	(4,738)
Dispute related expenses	(1,532)	(1,999)	(277)
Operating expenses (non-GAAP)	62,545	58,282	63,586

Operating profit (GAAP)	17,950	17,734	9,766
*Operating margin (GAAP)*	9.5%	9.3%	5.9%
Total adjustments to operating profit	4,697	11,910	5,088
Operating profit (non-GAAP)	22,647	29,644	14,854
*Operating margin (non-GAAP)*	12.0%	15.5%	8.9%

Non-operating income (expense) (GAAP)	2,046	5,770	6,598
Foreign exchange loss (gain), net	(588)	(1,046)	(373)
Realized/Unrealized loss (gain) on investments	1,608	(956)	(3,296)
Non-operating income (expense) (non-GAAP)	3,066	3,768	2,929

Net income (GAAP)	16,016	21,569	19,463
Total pre-tax impact of non-GAAP adjustments	5,717	9,908	1,419
Income tax impact of non-GAAP adjustments	(147)	(2,049)	(610)
Net income (non-GAAP)	21,586	29,428	20,272

Earnings per diluted ADS (GAAP)	$0.48	$0.64	$0.58
Earnings per diluted ADS (non-GAAP)	$0.64	$0.87	$0.60

Shares used in computing earnings per diluted ADS (GAAP)	33,701	33,814	33,827
Non-GAAP adjustments	26	181	20
Shares used in computing earnings per diluted ADS (non-GAAP)	33,727	33,995	33,847

(A)Excludes stock-based compensation as follows:
Cost of sales	72	162	73
Research & development	2,143	6,670	3,003
Sales & marketing	347	978	862
General & administrative	603	1,937	873

Silicon Motion Technology Corporation Consolidated Balance Sheet (In thousands, unaudited)

	Mar. 31,	Dec. 31,	Mar. 31,
	2024	2024	2025
	($)	($)	($)
Cash and cash equivalents	294,814	276,068	275,140
Accounts receivable (net)	186,154	233,744	206,693
Inventories	253,316	199,229	180,903
Refundable deposits – current	49,610	54,645	53,015
Prepaid expenses and other current assets	17,944	31,187	32,102
Total current assets	801,838	794,873	747,853
Long-term investments	15,489	17,326	20,636
Property and equipment (net)	174,420	188,398	193,603
Other assets	32,529	30,739	29,310
Total assets	1,024,276	1,031,336	991,402

Accounts payable	64,810	17,773	23,048
Income tax payable	10,702	13,107	14,782
Accrued expenses and other current liabilities	135,425	168,624	130,277
Total current liabilities	210,937	199,504	168,107
Other liabilities	59,883	59,548	50,968
Total liabilities	270,820	259,052	219,075
Shareholders’ equity	753,456	772,284	772,327
Total liabilities & shareholders’ equity	1,024,276	1,031,336	991,402

Silicon Motion Technology Corporation Condensed Consolidated Statements of Cash Flows (in thousands, unaudited)

	For Three Months Ended
	Mar. 31,	Dec. 31,	Mar. 31,
	2024	2024	2025
	($)	($)	($)
Net income	16,016	21,569	19,463
Depreciation & amortization	5,608	7,256	7,225
Stock-based compensation	3,165	9,747	4,811
Investment losses (gain) & disposals	1,608	(956)	(3,309)
Changes in operating assets and liabilities	(18,586)	(43,774)	22,082
Net cash provided by (used in) operating activities	7,811	(6,158)	50,272

Purchase of property & equipment	(10,749)	(10,836)	(11,661)
Proceeds from disposal of properties	–	3	13
Purchase of long-term investments	–	(4,173)	–
Disposal of long-term investments	–	4,432	–
Net cash provided by (used in) investing activities	(10,749)	(10,574)	(11,648)

Dividend payments	(16,808)	(16,814)	(16,956)
Share repurchases	–	–	(24,291)
Net cash used in financing activities	(16,808)	(16,814)	(41,247)

Net increase (decrease) in cash, cash equivalents & restricted cash	(19,746)	(33,546)	(2,623)
Effect of foreign exchange changes	35	(717)	37
Cash, cash equivalents & restricted cash—beginning of period	368,990	368,596	334,333
Cash, cash equivalents & restricted cash—end of period	349,279	334,333	331,747

About Silicon Motion:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at www.siliconmotion.com.

Forward-Looking Statements:
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the impact of inflation on our business and customer’s businesses and any effect this has on economic activity in the markets in which we operate; the functionalities and performance of our information technology (“IT”) systems, which are subject to cybersecurity threats and which support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology; the effects on our business and our customer’s business taking into account the ongoing U.S.-China tariffs and trade disputes; the uncertainties associated with any future global or regional pandemic; the continuing tensions between Taiwan and China, including enhanced military activities; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; changes in our cost of finished goods; supply chain disruptions that have affected us and our industry as well as other industries on a global basis; the payment, or non-payment, of cash dividends in the future at the discretion of our board of directors and any announced planned increases in such dividends; changes in our cost of finished goods; the availability, pricing, and timeliness of delivery of other components and raw materials used in the products we sell given the current raw material supply shortages being experienced in our industry; our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions; any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2024. Other than as required under the securities laws, we do not intend, and do not undertake any obligation to, update or revise any forward-looking statements, which apply only as of the date of this news release.

The MIL Network –

April 30, 2025

MIL-OSI: GBank Financial Holdings Inc. Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, April 29, 2025 (GLOBE NEWSWIRE) — GBank Financial Holdings Inc. (the “Company”) (OTCQX: GBFH), the parent company of GBank (the “Bank”), today reported net income for the quarter ended March 31, 2025 of $4.5 million, or $0.31 per diluted share, compared to $5.2 million, or $0.37 per diluted share during the fourth quarter of 2024, and $3.7 million, or $0.29 per diluted share, for the first quarter of 2024.

First Quarter 2025 Financial Highlights (Unaudited)

Net income of $4.5 million and diluted earnings per share of $0.31

Net revenue⁽¹⁾of $17.4 million, an increase of 31.4% compared to the first quarter of 2024

SBA Lending and Commercial Banking loan originations of $133.0 million, compared to $136.6 million for the first quarter of 2024

Gain on sale of loans of $2.5 million on loans sold of $68.7 million, compared to gain on sale of loans of $2.1 million on loans sold of $68.6 million for the first quarter of 2024

Credit card charge transactions of $105.6 million and net interchange fees of $2.0 million, compared to $1.1 million and $20 thousand, respectively, for the first quarter of 2024

Non-interest expenses include legal, professional, and audit fees from registration on Forms S-1 and S-1A, which total approximately $1.1 million to date

Net interest margin of 4.47%

Total deposit growth of $189.0 million, or 23.4% compared to March 31, 2024

Total on-balance sheet guaranteed loans of $245.6 million, compared to $263.5 million as of March 31, 2024

Non-performing assets, excluding guaranteed portions, of $5.7 million, representing 0.48% of total assets

Edward M. Nigro, Executive Chairman, stated, “While quarterly net revenues⁽¹⁾ increased 31% over the first quarter of 2024, our first quarter noninterest income, driven by the increased monetization of Gaming FinTech operations, increased 51% year-over-year with noninterest revenue exceeding $5 million. And in just these last two weeks, GBFH received SEC approval of its S-1 filing and was approved to commence trading on NASDAQ – we have been busy.”

Registration Statement on Form S-1

On April 16, 2025, the Company announced that the U.S. Securities and Exchange Commission declared effective the Company’s Registration Statement on Form S-1 (the “Form S-1”) related to registration and resale of 1,081,081 shares of common stock, currently held by existing stockholders and issued in the Company’s Private Placement Offering (the “Offering”) which closed on October 11, 2024.

The Company is not currently offering or selling new shares of common stock, and there will be no change to the issued and outstanding number of shares of common stock of the Company in connection with the Form S-1. Copies of the prospectus included in the Registration Statement may be obtained from the Company by request or by visiting
https://www.sec.gov/Archives/edgar/data/1791145/000147793225002363/gbfh_s1.htm.

Financial Results

Income Statement

Net interest income totaled $11.9 million for the first quarter of 2025, reflecting an increase of $105 thousand, or 0.9%, compared to $11.8 million for the fourth quarter of 2024, and an increase of $1.1 million, or 10.1%, compared to the first quarter of 2024.

The increase in net interest income from the fourth quarter was driven by a favorable reduction in the cost of deposits, partially offset by lower interest income on loans. The favorable decrease in the cost of deposits of $305 thousand was the result of (i) the redemption of $20 million of certain higher-cost callable brokered deposits during the quarter having a weighted-average interest rate of 4.95%, (ii) rate decreases on interest-bearing deposits resulting from the 50 basis point decrease in the federal funds rate enacted during the fourth quarter 2024 by the Federal Open Market Committee (“FOMC”), and (iii) the non-recurring effect of accelerated recognition of certain premiums on brokered certificates of deposits during the fourth quarter of 2024 totaling $170 thousand. The favorable decrease in the cost of deposits was partially offset by a decrease in interest income on loans of $395 thousand primarily due to the full-quarter impact of the previously mentioned 50 basis point decrease in the federal funds rate on the Bank’s variable rate loan portfolio. Interest income for the first quarter of 2025 reflects the net effect of the reversal of $100 thousand of interest accruals, deferred fees, and deferred costs attributable to $2.8 million of commercial loans placed on nonaccrual status during the first quarter of 2025. Comparatively, the fourth quarter of 2024 reflects the net effect of the reversal of $342 thousand of interest accruals, deferred fees, and deferred costs attributable to $12.4 million of commercial loans placed on nonaccrual status.

The increase in net interest income when compared to the first quarter of 2024 was primarily volume driven, as higher interest income from growth in average loan and interest-bearing cash balances more than offset increases in interest expense resulting from higher average balances of interest-bearing deposits.

Investment securities yield was 4.94% for the first quarter of 2025, compared to 4.74% for the fourth quarter of 2024 and 4.16% for the first quarter of 2024. The increase in investment securities yield when compared to the previous linked quarter and to the same quarter of 2024 was driven by the purchase of $72.9 million of investment securities over the previous twelve months to replace certain lower-yielding U.S. Treasury securities that matured during 2024.

The Company’s net interest margin for the first quarter of 2025 decreased to 4.47%, compared to 4.53% for the fourth quarter of 2024 and 4.85% for the first quarter of 2024. The decrease in net interest margin when compared to the fourth and first quarters of 2024 is reflective of the full-quarter impact of the 50 basis point decrease in the federal funds rate enacted in during the fourth quarter of 2024 by the FOMC on variable rate loans, investment securities, and interest bearing cash balances and interest income reversals relating to loans placed on nonaccrual status during the quarter.

The Company recorded a provision for credit losses on loans of $710 thousand for the first quarter of 2025, a decrease of $627 thousand compared to $1.3 million for the fourth quarter of 2024. No provision for credit losses on loans was recorded during the first quarter of 2024. The provision for credit losses on loans recorded in the first quarter of 2025 reflects quarterly growth in non-guaranteed loans of $24.4 million.

Non-interest income was $5.5 million for the first quarter of 2025, compared to $5.8 million for the fourth quarter of 2024, and $2.4 million for the first quarter of 2024. The $301 thousand decrease in non-interest income when compared to the fourth quarter of 2024 was driven by a $1.5 million decrease in income from gain on sale of loans due to a decrease in average pretax gain on sale margin and lower sales volume quarter-over-quarter. The decrease in gain on sale of loans was partially offset by an increase in credit card net interchange fees of $1.1 million quarter-over-quarter due to increased credit card transaction volume. The $3.1 million increase in non-interest income when compared to the first quarter of 2024 was driven by (i) an increase in credit card net interchange fees of $2.0 million, (ii) a $643 thousand increase in loan servicing income as the first quarter of 2024 reflected the write-off of certain loan servicing assets totaling $401 thousand relating to the repurchase of the guaranteed portion of previously sold SBA loans, and (iii) a $454 thousand increase in income from gain on sale of loans.

Net revenue⁽¹⁾ totaled $17.4 million for the first quarter of 2025, representing a decrease of $196 thousand, or 1.1%, compared to $17.6 million for the fourth quarter of 2024. Net revenue⁽¹⁾ for the first quarter of 2025 increased $4.2 million, or 31.4%, when compared to $13.2 million for the first quarter of 2024.

Non-interest expense was $10.9 million during the first quarter of 2025, compared to $9.7 million for the fourth quarter of 2024 and $8.4 million for the first quarter of 2024. The Company’s efficiency ratio was 62.8%, compared to 55.4% for the fourth quarter of 2024 and 63.4% for the first quarter of 2024. The increase in non-interest expense from the fourth quarter of 2024 is primarily due to an increase of $587 thousand in employee compensation costs attributable to higher commission expenses related to loan production. The increase in non-interest expense also reflects extraordinary legal, professional, and audit fees incurred to date totaling $1.1 million associated with the preparation and filing of the registration statement with the Securities and Exchange Commission on Forms S-1 and S-1/A, approximately $786 thousand of these expenses were incurred during the first quarter of 2025. Additionally, data processing expenses increased $201 thousand when compared to the fourth quarter of 2024 related mainly to higher credit card volume. The increase in non-interest expense from the first quarter of 2024 was driven by a $1.1 million increase in employee compensation costs due to increased staffing levels, as well as a $1.5 million increase in other expenses due to the previously mentioned legal, professional, and audit fees associated with the registration statement filing and increases in data processing, supplies, and other non-interest expenses to support the growth of the organization.

Income tax expense was $1.2 million for each of the quarters ended March 31, 2025 and December 31, 2024, and $1.1 million for the first quarter of 2024. The Company’s effective tax rate was 21.4% for the quarter ended March 31, 2025 compared to 19.1% for the quarter ended December 31, 2024 and 23.1% for the quarter ended March 31, 2024. The fluctuations in the effective tax rate are largely driven by the timing and volume of certain stock-based compensation transactions resulting in tax benefits to the Company, as well as the timing and volume of state tax adjustments.

Net income was $4.5 million for the first quarter of 2025, a decrease of $774 thousand from $5.2 million for the fourth quarter of 2024, and an increase of $769 thousand from $3.7 million for the first quarter of 2024. Diluted earnings per share totaled $0.31 for the first quarter of 2025, compared to $0.37 for the fourth quarter of 2024 and $0.29 for the first quarter of 2024. Earnings per share and other share-based metrics have been impacted by the shares issued in the previously mentioned Offering.

The Company had 175 full-time equivalent employees as of March 31, 2025, compared to 169 full-time equivalent employees as of December 31, 2024, and 150 full-time equivalent employees as of March 31, 2024.

Balance Sheet

Total loans, net of deferred fees and costs were $843.4 million as of March 31, 2025, compared to $816.0 million as of December 31, 2024, and $733.6 million as of March 31, 2024. Loans, net of deferred fees and costs increased $27.4 million during the first quarter of 2025 as increases in commercial real estate loans more than offset decreases in commercial and industrial and residential loans. The increase in loans, net of deferred fees and costs of $109.8 million from March 31, 2024 was primarily driven by increases of $97.7 million in commercial real estate loans. Total guaranteed loans as a percentage of loans⁽¹⁾ were 24.2% as of March 31, 2025, compared to 24.7% as of December 31, 2024, and 29.8% as of March 31, 2024.

The Company’s allowance for credit losses totaled $9.0 million as of March 31, 2025, compared to $9.1 million as of December 31, 2024 and $7.1 million as of March 31, 2024. The allowance for credit losses as a percentage of total loans was 1.07% as of March 31, 2025, compared to 1.12% as of December 31, 2024, and 0.97% as of March 31, 2024. The allowance for loan losses as a percentage of total loans, excluding guaranteed portions⁽¹⁾, was 1.41% as of March 31, 2025, compared to 1.48% as of December 31, 2024, and 1.38% as of March 31, 2024.

Deposits totaled $995.9 million as of March 31, 2025, an increase of $60.9 million from $935.1 million as of December 31, 2024, and an increase of $189.0 million from $806.9 million as of March 31, 2024. By deposit type, the increase from the prior quarter was driven by an increase of $40.7 million in certificates of deposit and a $23.3 million increase in savings and money market accounts. From March 31, 2024, certificates of deposit increased by $83.9 million, and savings and money market accounts increased by $80.5 million. Noninterest-bearing deposits totaled $242.7 million as of March 31, 2025, an increase of $3.0 million from $239.7 million as of December 31, 2024, and an increase of $26.3 million from $216.3 million as of March 31, 2024.

The Company’s ratio of loans to deposits was 84.7% as of March 31, 2025, compared to 87.3% as of December 31, 2024, and 90.9% as of March 31, 2024.

The Company held no short-term borrowings as of March 31, 2025 or December 31, 2024, compared to short term borrowings of $10.0 million as of March 31, 2024. As of March 31, 2025, the Company had approximately $488.3 million in available borrowing capacity from the Federal Reserve Bank, the Federal Home Loan Bank, and through its various Fed Funds lines.

Subordinated notes totaled $26.1 million as of March 31, 2025 and December 31, 2024, compared to $26.0 million as of March 31, 2024.

Stockholders’ equity was $146.6 million as of March 31, 2025, compared to $140.7 million as of December 31, 2024, and $102.6 million as of March 31, 2024. The increase in stockholders’ equity from December 31, 2024 is attributable to increases in retained earnings resulting from net income earned during the quarter. The increase in stockholders’ equity since March 31, 2024 was driven by the previously mentioned Offering, net income earned during the previous twelve months, as well as an increase in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BankCard Services, LLC (“BCS“) during the second quarter of 2024.

The Company’s common equity to tangible assets ratio was 12.3% as of March 31, 2025, compared to 12.5% as of December 31, 2024, and 10.6% as of March 31, 2024. The Bank’s Tier 1 leverage ratio was 14.2% as of March 31, 2025, compared to 12.9% as of December 31, 2024, and 13.0% as of March 31, 2024. The increase in the Bank’s Tier 1 leverage ratio was the result of the downstream of $15.0 million in additional capital from the holding company to the Bank during the first quarter of 2025. The Company’s book value per share was $10.27 as of March 31, 2025, an increase of 4.1% from $9.87 as of December 31, 2024, and an increase of 28.4% from $8.00 as of March 31, 2024. The increase in tangible book value per share from December 31, 2024 is attributable to net income and increases in additional paid in capital resulting from certain stock-based compensation activity during the quarter. The increase since March 31, 2024 is attributable to net income, the Offering, and the increases in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BCS during the second quarter of 2024.

Total assets increased 6.0% to $1.190 billion as of March 31, 2025, from $1.122 billion as of December 31, 2024, and increased 23.5% from $963.4 million as of March 31, 2024. The increase in total assets from December 31, 2024 was primarily driven by increases in loans and interest-bearing deposits with banks. The increase in total assets from March 31, 2024 was primarily driven by increases in loans, interest bearing deposits with banks, and investment securities.

Asset Quality

The provision for credit losses on loans totaled $710 thousand for the first quarter of 2025, compared to $1.3 million for the fourth quarter of 2024. No provision for credit losses on loans was recorded during the first quarter of 2024. Net loan charge-offs in the first quarter of 2025 totaled $828 thousand, or 0.39% of average net loans (annualized), compared to net loan charge-offs of $157 thousand, or 0.07% of average net loans (annualized) in the fourth quarter of 2024 and no net loan charge-offs or recoveries during the first quarter of 2024.

Nonaccrual loans increased $5.1 million during the quarter to $19.2 million as of March 31, 2025, and increased $13.1 million from $6.1 million as of March 31, 2024. Loans past due 90 days and accruing interest totaled $1.2 million as of March 31, 2025, compared to $40 thousand as of December 31, 2024, and $33 thousand as of March 31, 2024. The balance of loans past due 90 days and accruing of $1.2 million at March 31, 2025 was comprised of one commercial real estate loan totaling $1.1 million and certain credit card balances totaling $49 thousand.

The Company held no other real estate owned as of March 31, 2025 or 2024, or December 31, 2024.

Total non-performing assets totaled $20.4 million as of March 31, 2025, an increase of $6.2 million from $14.2 million as of December 31, 2024, and an increase of $14.2 million from $6.1 million as of March 31, 2024. Non-performing assets, excluding guaranteed portions, totaled $5.7 million as of March 31, 2025, an increase of $839 thousand from $4.8 million as of December 31, 2024 and an increase of $4.1 million from $1.6 million as of March 31, 2024.

Loans past due between 30 and 89 days and accruing interest totaled $14.9 million as of March 31, 2025, an increase of $3.0 million from $11.8 million as of December 31, 2024, and an increase of $11.4 million from $3.4 million as of March 31, 2024. The guaranteed portion of loans past due between 30 and 89 days and accruing interest totaled $11.9 million as of March 31, 2025.

The ratio of total non-performing assets to total assets was 1.71% as of March 31, 2025, compared to 1.26% as of December 31, 2024, and 0.64% as of March 31, 2024. The ratio of non-performing assets, excluding guaranteed portions, to total assets⁽¹⁾ was 0.48% as of March 31, 2025, compared to 0.43% as of December 31, 2024, and 0.16% as of March 31, 2024.

Other Financial Highlights

SBA Lending and Commercial Banking

SBA Lending and Commercial Banking loan originations totaled $133.0 million for the first quarter of 2025, compared to $120.0 million for the fourth quarter of 2024 and $136.6 million for the first quarter of 2024. Loan sale volume decreased to $68.7 million during the first quarter of 2025, compared to $98.5 million for the fourth quarter of 2024, and increased slightly from $68.6 million during the first quarter of 2024. Gain on sale of loans decreased 36.5% to $2.5 million, compared to $4.0 million for the fourth quarter of 2024, and increased 21.8% from $2.1 million for the first quarter of 2024. The average pretax gain on sale of loans margin was 3.69% for the first quarter of 2025, compared to 4.06% for the fourth quarter of 2024 and 3.04% for the first quarter of 2024.

Gaming FinTech

GBank’s partner, BCS, has been actively developing its pipeline of Pooled Player and Pooled Consumer Accounts “Powered by PIMS and CIMS”™. BCS is currently onboarding three new programs. BCS is working with two gaming operators as a part of the latest Product Express partnership with MasterCard and i2c announced during the third quarter of 2024. One client is a cash access service provider in the casino industry and the other is a social gaming operator. Both are working to onboard their prepaid issuing program through this partnership. These programs are expected to be active early in the second quarter of 2025. BCS has executed an additional card issuing agreement with a client offering prepaid access services for cashless venues nationwide. This program went live in the first quarter of 2025. Additionally, the BoltBetz slot machine application is now expected to be fully live in the second quarter of 2025.

BCS and GBank now have seventeen active payment and PPA/PCA clients. Currently, BCS and GBank are conducting due diligence for three new clients, with anticipated onboarding in future quarters. Gaming FinTech deposits averaged $37.1 million for the first quarter of 2025, compared to $30.5 million for the fourth quarter of 2024.

The Bank launched its GBank Visa Signature® Card in the second quarter of 2023 for prime and super-prime consumers, offering one percent cash rewards on gaming transactions and two percent cash rewards on all other purchases.

Credit card charge transactions were $105.6 million for the first quarter of 2025, compared to $51.7 million for the fourth quarter of 2024 and $1.1 million for the first quarter of 2024. Credit card balances were $2.3 million as of March 31, 2025, compared to $1.6 million as of December 31, 2024 and $542 thousand as of March 31, 2024. Through March 31, 2025, and since launch, the Bank has processed over $172 million in gaming transactions through its credit card product.

GBank continues to develop and improve its operational credit card systems, including the internal implementation of application landing pages and internal customer service resources. These efforts are a continuation of the Company’s ongoing strategy to ultimately manage all systems directly as opposed to relying on outsourced third parties. Direct control over these critical resources has become more important as we focus are executing on new marketing agreements, create significant additional social media presence, and require related product systems with the ability to perform on a mass scale. Implementation and testing of these initiatives is currently underway with completion anticipated during the third quarter of 2025, which is expected to cause slowing growth in credit card transactions and growth over the short-term.

Non-Voting Equity Investment in BankCard Services, LLC

On June 26, 2024, the Company announced the acquisition of a 32.99% non-voting equity interest in BCS. This acquisition was completed by exchanging 231,508 shares of restricted, non-voting GBFH common stock for 143,371 shares of non-voting BCS common stock. The GBFH non-voting stock must be held by BCS for a minimum of one year and can only be converted into voting shares upon a disposition by BCS, in accordance with applicable Federal Reserve regulations.

Earnings Call

The Company will host its first quarter 2025 earnings call on Wednesday, April 30, 2025, at 10:00 a.m. PST. Interested parties can participate remotely via Internet connectivity. There will be no physical location for attendance.

Interested parties may join online, via the ZOOM app on their smartphones, or by telephone:

ZOOM Conference ID 826 3030 7240
Passcode: 549549

Joining by ZOOM Conference (audio only):

Log in on your computer at
https://us02web.zoom.us/j/82630307240?pwd=TU4yZXJqMEc2VGZoUm5rRTl0OVFxdz09
or use the ZOOM app on your smartphone.

Joining by Telephone

Dial (408) 638-0968. The conference ID is 826 3030 7240. Passcode: 549549.

Click here to learn more about GBank Financial Holdings Inc.

Notice Regarding Disclosures and Forward-Looking Statements

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company’s goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions. These statements are based upon the current belief and expectations of the Company’s management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management’s good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

GBank Financial Holdings Inc.
9115 West Russell Road, Suite 110
Las Vegas, Nevada 89148
https://www.gbankfinancialholdings.com/

FIRST QUARTER 2025 FINANCIAL RESULTS (UNAUDITED)

Quarter Highlights:
Net Income	Earnings per diluted share	Net revenue⁽¹⁾	Net interest margin	On-balance sheet guaranteed loans	Book value per common share
$4.5 million	$0.31	$17.4 million	4.47%	$245.6 million	$10.27

CEO COMMENTARY:

“Our results reflect a continuation of strong earnings, with Company revenues absorbing elevated one-time costs, including SEC related audit, accounting, and legal expenses, which have now totaled approximately $1.1 million to date,” stated T. Ryan Sullivan, President/CEO

LINKED QUARTER BASIS

QTD YEAR-OVER-YEAR

FINANCIAL HIGHLIGHTS:
Net income of $4.5 million and earnings per diluted share of $0.31, compared to $5.2 million and $0.37, respectively Net interest income of $11.9 million, an increase of 0.9%, or $105 thousand	Net income of $4.5 million and earnings per diluted share of $0.31, compared to $3.7 million and $0.29, respectively Net interest income of $11.9 million, an increase of 10.1%, or $1.1 million
Gain on sale of loans of $2.5 million, a decrease of 36.5%, or $1.5 million	Gain on sale of loans of $2.5 million, an increase of 21.8%, or $454 thousand
Noninterest income of $5.5 million, a decrease of 5.2%, or $301 thousand	Noninterest income of $5.5 million, an increase of 127.2%, or $3.1 million
Net revenue⁽¹⁾ of $17.4 million, a decrease of 1.1%, or $196 thousand	Net revenue⁽¹⁾ of $17.4 million, an increase of 31.4%, or $4.2 million
Noninterest expense of $10.9 million, an increase of 12.2%, or $1.2 million	Noninterest expense of $10.9 million, an increase of 30.2%, or $2.5 million

FINANCIAL POSITION RESULTS:
On-balance sheet guaranteed loans of $245.6 million, an increase of 5.0%, or $11.6 million	On-balance sheet guaranteed loans of $245.6 million, a decrease of 6.8%, or $18.0 million
Total deposits of $996.0 million, an increase of 6.5%, or $60.9 million	Total deposits of $996.0 million, an increase of 23.4%, or $189.0 million
Stockholders’ equity of $146.6 million, an increase of 4.2%, or $5.9 million	Stockholders’ equity of $146.6 million, an increase of 42.9%, or $44.0 million

LOANS AND ASSET QUALITY:
Nonperforming assets (nonaccrual loans, accruing loans past due 90 days or more, and OREO) to total assets of 1.71%, compared to 1.26% Nonperforming assets, excluding guaranteed balances, to total assets of 0.48%, compared to 0.43%	Nonperforming assets (nonaccrual loans, accruing loans past due 90 days or more, and OREO) to total assets of 1.71%, compared to 0.64% Nonperforming assets, excluding guaranteed balances, to total assets of 0.48%, compared to 0.16%
ACL to loans, excluding guaranteed balances, of 1.41%, compared to 1.48%	ACL to loans, excluding guaranteed balances, of 1.41%, compared to 1.38%

KEY PERFORMANCE METRICS:
Net interest margin decreased to 4.47%, compared to 4.53%	Net interest margin decreased to 4.47%, compared to 4.85%
Loan originations of $133.0 million, an increase of 10.9%, or $13.0 million	Loan originations of $133.0 million, a decrease of 2.7%, or $3.6 million
Return on average assets and equity was 1.61% and 12.59%, compared to 1.93% and 15.13%, respectively	Return on average assets and equity was 1.61% and 12.59%, compared to 1.59% and 14.67%, respectively
Book value per share of $10.27, an increase of 4.1% from $9.87	Book value per share of $10.27, an increase of 28.4% from $8.00

GBank Financial Holdings Inc.
Condensed Consolidated Balance Sheets
(Unaudited)

																Linked Quarter					Quarter YOY
																3/31/25 vs. 12/31/24					3/31/25 vs. 3/31/24
($’s in 000, except per share data)	Mar 31, 2025			Dec 31, 2024			Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			$ Var			% Var		$ Var			% Var
Assets
Cash and Due From Banks	$	6,701		$	9,262		$	5,798		$	5,409		$	8,334		$	(2,561	)	-27.6	%	$	(1,633	)	-19.6	%
Interest-Bearing Deposits With Other Financial Institutions		140,270			114,860			65,160			82,749			45,844			25,410		22.1	%		94,426		206.0	%
Total Cash and Cash Equivalents		146,971			124,122			70,958			88,158			54,178			22,849		18.4	%		92,793		171.3	%

Investment Securities:
Available For Sale, at Fair Value		71,468			65,609			39,381			2,330			2,588			5,859		8.9	%		68,880		2661.5	%
Held to Maturity, at Amortized Cost		39,903			40,569			46,043			56,520			86,999			(666	)	-1.6	%		(47,096	)	-54.1	%

Loans Held For Sale		41,313			32,649			68,317			40,489			44,901			8,664		26.5	%		(3,588	)	-8.0	%
Loans, Net of Deferred Fees and Costs:
Commercial and Industrial		56,885			64,000			53,490			50,498			46,863			(7,115	)	-11.1	%		10,022		21.4	%
Commercial Real Estate – Non-owner Occupied		672,379			630,551			607,864			583,463			546,408			41,828		6.6	%		125,971		23.1	%
Commercial Real Estate – Owner Occupied		81,768			88,802			86,785			106,595			110,065			(7,034	)	-7.9	%		(28,297	)	-25.7	%
Construction and Land Development		3,201			2,934			2,161			529			386			267		9.1	%		2,815		729.3	%
Multifamily		19,011			17,374			17,398			17,420			17,037			1,637		9.4	%		1,974		11.6	%
Residential		7,619			10,584			12,025			13,443			12,281			(2,965	)	-28.0	%		(4,662	)	-38.0	%
Consumer		2,502			1,713			1,276			909			549			789		46.1	%		1,953		355.7	%
Total Loans, Net of Deferred Fees and Costs		843,365			815,958			780,999			772,857			733,589			27,407		3.4	%		109,776		15.0	%
Less: Allowance for Credit Losses		(8,997	)		(9,114	)		(7,934	)		(7,342	)		(7,088	)		117		-1.3	%		(1,909	)	26.9	%
Total Net Loans		834,368			806,844			773,065			765,515			726,501			27,524		3.4	%		107,867		14.8	%

Loan Servicing Asset		9,231			8,976			8,046			7,698			7,124			255		2.8	%		2,107		29.6	%
Restricted Investment in Bank Stock		4,652			4,652			4,652			4,652			3,222			–		0.0	%		1,430		44.4	%
All Other Assets		42,106			38,943			37,540			43,992			37,937			3,163		8.1	%		4,169		11.0	%
Total Assets	$	1,190,012		$	1,122,364		$	1,048,002		$	1,009,354		$	963,450		$	67,648		6.0	%	$	226,562		23.5	%
Liabilities
Non-Interest Bearing Demand	$	242,650		$	239,672		$	229,875		$	220,438		$	216,307		$	2,978		1.2	%	$	26,343		12.2	%
Interest Bearing Demand		62,035			68,132			65,623			65,120			63,740			(6,097	)	-8.9	%		(1,705	)	-2.7	%
Savings and Money Market		280,056			256,724			244,091			222,115			199,549			23,332		9.1	%		80,507		40.3	%
Certificates of Deposit		411,201			370,552			343,931			332,695			327,326			40,649		11.0	%		83,875		25.6	%
Total Deposits		995,942			935,080			883,520			840,368			806,922			60,862		6.5	%		189,020		23.4	%

Short-Term Borrowings		–			–			–			12,000			10,000			–		0.0	%		(10,000	)	-100.0	%
Subordinated Debt		26,107			26,088			26,070			26,051			26,032			19		0.1	%		75		0.3	%
Operating Lease Liability		6,299			4,839			5,032			5,221			5,409			1,460		30.2	%		890		16.5	%
Other Liabilities		15,048			15,657			16,997			14,769			12,521			(609	)	-3.9	%		2,527		20.2	%
Total Liabilities		1,043,396			981,664			931,619			898,409			860,884			61,732		6.3	%		182,512		21.2	%

Equity
Common Stock		1			1			1			1			1			–		0.0	%		–		0.0	%
Additional Paid-in Capital		78,718			77,571			57,287			56,966			53,322			1,147		1.5	%		25,396		47.6	%
Retained Earnings		68,906			64,437			59,192			54,177			49,501			4,469		6.9	%		19,405		39.2	%
Accumulated Other Comprehensive Loss		(1,009	)		(1,309	)		(97	)		(199	)		(258	)		300		-22.9	%		(751	)	291.1	%
Total Stockholders’ Equity		146,616			140,700			116,383			110,945			102,566			5,916		4.2	%		44,050		42.9	%
Total Liabilities & Stockholders’ Equity	$	1,190,012		$	1,122,364		$	1,048,002		$	1,009,354		$	963,450		$	67,648		6.0	%	$	226,562		23.5	%

Book Value Per Common Share	$	10.27		$	9.87		$	8.91		$	8.49		$	8.00		$	0.40		4.1	%	$	2.27		28.4	%

GBank Financial Holdings Inc.
Condensed Consolidated Income Statements
(Unaudited)

	Three Months Ended
($’s in 000, except per share data)	Mar 31, 2025			Dec 31, 2024			Sep 30, 2024			Jun 30, 2024			Mar 31, 2024
Interest Income
Loans	$	16,836		$	17,231		$	17,347		$	16,360		$	15,330
Deposits With Other Financial Institutions		1,192			1,099			1,367			1,165			972
Investment Securities		1,281			1,177			924			868			1,014
Other Interest Bearing Balances		100			103			102			96			74
Total Interest Income		19,409			19,610			19,740			18,489			17,390

Interest Expense
Deposits		7,230			7,535			7,194			6,848			6,198
Short-term Borrowings and Subordinated Debt		285			286			287			293			390
Total Interest Expense		7,515			7,821			7,481			7,141			6,588

Net Interest Income		11,894			11,789			12,259			11,348			10,802
Provision for Credit Losses – Loans		(710	)		(1,337	)		(570	)		(283	)		–
Provision for Credit Losses – Unfunded Commitments		(11	)		(13	)		(8	)		(12	)		(20	)
Net Interest Income after Provision for Credit Losses		11,173			10,439			11,681			11,053			10,782

Other Income
Gain on Sales of Loans		2,537			3,998			2,838			3,163			2,083
Loan Servicing Income		703			597			566			534			60
Service Charges and Fees		56			54			48			41			41
Net Interchange Fees		2,003			947			284			146			20
Other Income		164			168			166			282			201
Total Other Income		5,463			5,764			3,902			4,166			2,405

Noninterest Expenses
Salaries and Employee Benefits		6,400			5,813			5,495			5,752			5,290
Occupancy Expenses		392			398			404			417			447
Other Expenses		4,115			3,509			3,156			2,963			2,637
Total Noninterest Expenses		10,907			9,720			9,055			9,132			8,374

Income Before Provision For Income Taxes		5,729			6,483			6,528			6,087			4,813
Provision For Income Taxes		(1,224	)		(1,239	)		(1,513	)		(1,411	)		(1,112	)
Net Income Before Equity Investment Loss		4,505			5,244			5,015			4,676			3,701
Net Loss Attributable to Equity Investment		(35	)		–			–			–			–
Net Income	$	4,470		$	5,244		$	5,015		$	4,676		$	3,701

Earnings Per Share	$	0.31		$	0.37		$	0.38		$	0.36		$	0.29
Earnings Per Share (Diluted)	$	0.31		$	0.37		$	0.38		$	0.36		$	0.29

GBank Financial Holdings Inc.
Average Balances, Rates, and Interest Income and Expense
(Unaudited)

				For the Three Months Ended
				March 31, 2025						December 31, 2024						March 31, 2024
(Dollars in thousands)				Average				Yield/		Average				Yield/		Average				Yield/
				Balance		Interest		Rate⁽²⁾		Balance		Interest		Rate⁽²⁾		Balance		Interest		Rate⁽²⁾
ASSETS:
	Interest Bearing Deposits			$	102,628	$	1,192	4.71	%	$	85,424	$	1,099	5.12	%	$	66,100	$	972	5.91	%
	Investment Securities:
		Taxable			105,222		1,281	4.94	%		98,712		1,177	4.74	%		98,084		1,014	4.16	%
	Loans and Loans Held For Sale				866,690		16,836	7.88	%		846,583		17,231	8.10	%		727,786		15,330	8.47	%
	Restricted Investment in Bank Stock				4,652		100	8.72	%		4,652		103	8.81	%		3,222		74	9.24	%
		Total Earning Assets			1,079,192		19,409	7.29	%		1,035,371		19,610	7.53	%		895,192		17,390	7.81	%

	Cash and Due From Banks				6,216						5,938						5,935
	Other Assets				39,177						38,753						33,602
			Total Assets	$	1,124,585					$	1,080,062					$	934,729

LIABILITIES & SHAREHOLDERS’ EQUITY
	Deposits:
		Interest-bearing Demand		$	65,693	$	355	2.19	%	$	64,453	$	385	2.38	%	$	65,303	$	393	2.42	%
		Money Market and Savings			264,085		2,411	3.70	%		255,068		2,496	3.89	%		186,372		1,759	3.80	%
		Certificates of Deposit			385,704		4,464	4.69	%		359,285		4,654	5.15	%		309,221		4,046	5.26	%
			Total Interest-Bearing Deposits		715,482		7,230	4.10	%		678,806		7,535	4.42	%		560,896		6,198	4.44	%

	Short-Term Borrowings				–		–	0.00	%		2		–	0.00	%		7,583		104	5.52	%
	Subordinated Debt				26,095		285	4.43	%		26,076		286	4.36	%		26,021		286	4.42	%
			Total Interest-Bearing Liabilities		741,577		7,515	4.11	%		704,884		7,821	4.41	%		594,500		6,588	4.46	%

	Noninterest-bearing Deposits				218,874						214,880						220,767
	Other Liabilities				20,139						22,403						18,003
	Shareholders’ Equity				143,995						137,895						101,459
			Total Liabilities & Shareholders’ Equity	$	1,124,585					$	1,080,062					$	934,729

	Net Interest Income					$	11,894					$	11,789					$	10,802

	Total Yield on Earning Assets							7.29	%					7.53	%					7.81	%
	Cost on Interest-Bearing Liabilities							4.11	%					4.41	%					4.46	%
	Average Interest Spread							3.18	%					3.12	%					3.35	%
	Net Interest Margin							4.47	%					4.53	%					4.85	%
	Net Interest Margin (Bank Only)							4.58	%					4.64	%					4.98	%

GBank Financial Holdings Inc.
Additional Financial Information
(Unaudited)

	Three Months Ended
($’s in 000, except per share data)	Mar 31, 2025			Dec 31, 2024			Sep 30, 2024			Jun 30, 2024			Mar 31, 2024

Key Performance Metrics
Return on Average Assets-Net Income ⁽²⁾		1.61	%		1.93	%		1.96	%		1.90	%		1.59	%
Return on Average Stockholders’ Equity⁽²⁾		12.59	%		15.13	%		17.29	%		17.59	%		14.67	%
Efficiency Ratio		62.84	%		55.38	%		56.03	%		58.86	%		63.41	%
Net Interest Margin⁽²⁾		4.47	%		4.53	%		5.00	%		4.82	%		4.85	%
Net Revenue⁽¹⁾	$	17,357		$	17,553		$	16,161		$	15,514		$	13,207
Common Equity / Assets		12.3	%		12.5	%		11.1	%		11.0	%		10.6	%
Tier 1 Leverage Ratio – Bank		14.23	%		12.90	%		13.08	%		12.88	%		13.03	%

Selected Loan Metrics
Guaranteed Portion of Loans Held for Sale	$	41,313		$	32,649		$	68,317		$	40,489		$	44,901
Guaranteed Portion of Loans Held for Investment		204,239			201,267			203,027			215,382			218,619
Total Guaranteed Loans		245,552			233,916			271,344			255,871			263,520
Guaranteed Loans as a Percent of Loans⁽¹⁾		24.2	%		24.7	%		26.0	%		27.9	%		29.8	%

Asset Quality
Total nonaccrual loans	$	19,220		$	14,128		$	5,381		$	6,470		$	6,096
Loans past due 90 days and still accruing		1,153			40			27			1,142			33
Other real estate owned		–			–			–			–			–
Total non-performing assets		20,373			14,168			5,408			7,612			6,129
Non-performing assets: guaranteed portion		14,687			9,321			3,838			5,396			4,572
Non-performing assets: non-guaranteed portion		5,686			4,847			1,570			2,216			1,557

Non-performing assets to total assets		1.71	%		1.26	%		0.52	%		0.75	%		0.64	%
Non-performing assets, excluding guaranteed, to total assets⁽¹⁾		0.48	%		0.43	%		0.15	%		0.22	%		0.16	%
Net charge-offs (recoveries)	$	828		$	157		$	(22	)	$	29		$	–

Loans past due 30-89 days and accruing	$	14,853		$	11,822		$	12,390		$	1,054		$	3,428
Loans past due 30-89 days and accruing: guaranteed portion	$	11,915		$	8,713		$	8,535		$	–		$	1,028
Loans past due 30-89 days and accruing: non-guaranteed portion	$	2,938		$	3,109		$	3,855		$	1,054		$	2,400

Allowance for Credit Losses (ACL)	$	8,997		$	9,114		$	7,934		$	7,342		$	7,088
Nonaccrual loans	$	19,220		$	14,128		$	5,381		$	6,470		$	6,096
ACL to nonaccrual loans		47	%		65	%		147	%		113	%		116	%
ACL to nonaccrual loans, excluding guaranteed⁽¹⁾		168	%		190	%		514	%		130	%		465	%
ACL to loans		1.07	%		1.12	%		1.02	%		0.95	%		0.97	%
ACL to loans, excluding guaranteed⁽¹⁾		1.41	%		1.48	%		1.37	%		1.32	%		1.38	%

Book Value
Stockholders’ Equity	$	146,616		$	140,700		$	116,383		$	110,945		$	102,566
Common shares outstanding		14,271			14,252			13,067			13,061			12,824
Book value per common share	$	10.27		$	9.87		$	8.91		$	8.49		$	8.00
Employees – FTE		175			169			159			155			150

GBank Financial Holdings Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

	Three Months Ended
($’s in 000, except per share data)	Mar 31, 2025			Dec 31, 2024			Sep 30, 2024			Jun 30, 2024			Mar 31, 2024

Net Revenue⁽³⁾
Net Interest Income	$	11,894		$	11,789		$	12,259		$	11,348		$	10,802
Non-Interest Income		5,463			5,764			3,902			4,166			2,405
Net Revenue	$	17,357		$	17,553		$	16,161		$	15,514		$	13,207

Guaranteed Loans as a Percent of Loans⁽⁴⁾
SBA and USDA Guaranteed Loans	$	204,239		$	201,267		$	203,027		$	215,382		$	218,619
Loans, Net of Deferred Fees and Costs		843,365			815,958			780,999			772,857			733,589
Guaranteed Loans as a % of Loans		24.2	%		24.7	%		26.0	%		27.9	%		29.8	%

Non-performing assets, excluding guaranteed, to total assets⁽⁴⁾
Non-performing assets	$	20,373		$	14,168		$	5,408		$	7,612		$	6,129
Less: SBA and USDA guaranteed portions of non-performing assets		14,687			9,321			3,838			5,396			4,572
Non-performing assets, excluding guaranteed portions		5,686			4,847			1,570			2,216			1,557
Total assets		1,190,012			1,122,364			1,048,002			1,009,354			963,450
Non-performing assets, excluding guaranteed, to total assets		0.48	%		0.43	%		0.15	%		0.22	%		0.16	%

Allowance for credit losses (ACL) to nonaccrual loans, excluding guaranteed⁽⁴⁾
Nonaccrual loans	$	19,220		$	14,128		$	5,381		$	6,470		$	6,096
Less: SBA and USDA guaranteed portions of nonaccrual loans		13,859			9,321			3,838			833			4,572
Nonaccrual loans, excluding guaranteed portions		5,361			4,807			1,543			5,637			1,524
ACL to nonaccrual loans, excluding guaranteed		168	%		190	%		514	%		130	%		465	%

ACL to loans, excluding guaranteed⁽⁴⁾
Loans, net of deferred fees and costs	$	843,365		$	815,958		$	780,999		$	772,857		$	733,589
Less: SBA and USDA guaranteed portions of loans		204,239			201,267			203,027			215,382			218,619
Loans, excluding guaranteed		639,126			614,691			577,972			557,475			514,970
ACL to loans, excluding guaranteed		1.41	%		1.48	%		1.37	%		1.32	%		1.38	%

	⁽¹⁾	See Reconciliation of Non-GAAP Financial Measures
	⁽²⁾	Ratios are annualized on an actual/actual basis
	⁽³⁾	We believe this non-GAAP measurement presents trends in income generation of the Company.
	⁽⁴⁾	We believe these non-GAAP measurements provide useful metrics regarding the at-risk assets of the Company.

The MIL Network –

April 30, 2025

MIL-OSI New Zealand: Protecting New Zealand’s energy infrastructure

Source: New Zealand Government

Improving the current system to better protect power lines from falling trees will protect the security of New Zealand’s electricity infrastructure, says Energy Minister Simon Watts.
“Secure electricity lines are critical to electrifying New Zealand’s economy and delivering the resilient and reliable electricity supply we need to power economic growth,” Mr Watts says.
“Cyclone Gabrielle and Cyclone Tam highlighted the vulnerability of our infrastructure to severe weather events like storms and floods. During Cyclone Gabrielle alone, trees outside the Growth Limit Zone caused power outages that left 68,000 households without heating, lighting, internet, and access to essential appliances.”
The Government has now agreed to amendments to the Electricity (Hazards from Trees) Regulations 2003, that will lower the risk to power lines from trees that are close to but aren’t immediately beside the line.
“We’re taking action to deal with the increasing risk of damaged infrastructure and support our adaptation to the changing climate,” Mr Watts says.
The amendments introduce two key measures:

Enabling lines owners to assess the likelihood and potential impact of a fall for trees they consider could be a risk to lines, then issue a Treefall Hazard Notice for moderate- and high-risk trees.
Restricting the planting of new trees on land that is not already forested outside of urban areas.

“We have worked closely with lines owners and other impacted stakeholders to ensure we struck the right balance between security of our electricity supply, protecting property rights, and making sure the forestry sector’s Emissions Trading Scheme-related revenues are not unduly impacted,” Mr Watts says.
“This Government has made it clear that we are committed to unleashing transmission and distribution infrastructure on our mission to electrify the New Zealand economy. Ensuring the security of our network infrastructure is essential to delivering reliable electricity to all New Zealanders.”

MIL OSI New Zealand News –

April 30, 2025
MIL-OSI Canada: More campsites, new facilities opening at China Beach
Source: Government of Canada regional news

People visiting Juan de Fuca Park can soon enjoy more campsites, and new accessible washrooms and showers at China Beach Campground.

“For so many people, camping is a way to connect with family and friends, and spend time together in nature,” said Tamara Davidson, Minister of Environment and Parks. “That’s why we’re building more capacity with new, accessible campsites on Vancouver Island as more people choose to vacation within Canada and support our economy.”

Thirteen new campsites have been added to the popular campground, bringing the total number of campsites to 125. Eight of the new campsites are drive-in tent sites; the remaining five sites are walk-in. Two accessible-shower and flush-toilet buildings are also part of the project, which incorporates universal design standards where possible.

BC Parks has carried out the expansion project for China Beach campground in collaboration with the Pacheedaht First Nation, on whose territory Juan de Fuca Park is located.

The campground is scheduled to open May 15. Reservations for the new sites open May 1 for arrivals between May 15 and Sept. 1, 2025. After that, reservations will be available on a four-month rolling window.

In addition to the 13 new sites, 33 campsites (22 drive-in and 11-walk in) were added to the campground in spring 2024 as part of the $2.3-million expansion. Upgrades will also be made in fall 2025 to the nearby day-use parking area at China Beach to better accommodate the increasing number of visitors. The new parking area will have approximately 45 new stalls, a dedicated space for RVs and a turnaround area for large vehicles. A service centre with a pit toilet, bike racks and an information shelter is also part of the project.

“I’m pleased that BC Parks is delivering opportunities for more people to enjoy the natural environment at our doorstep by providing additional campsites and parking expansions at China Beach campground and day-use area,” said Dana Lajeunesse, MLA for Juan de Fuca-Malahat. “I was fortunate to have spent my childhood here and I have many fond memories of all the spectacular beaches in the area. BC Parks are more popular than ever, and I’m happy to see more opportunities for families and friends to enjoy more of what B.C. has to offer.”

The China Beach Campground and day-use parking-lot expansion is part of a five-year, $21.5-million investment to increase and improve opportunities for outdoor recreation throughout British Columbia. Upgrades include new campsites and trails, improvements to existing facilities and accessibility improvements.

Quick Facts:
- Juan de Fuca Park encompasses 1,528 hectares on Vancouver Island’s rugged southwest coast.
- The park includes campgrounds, day-use areas, beaches, and the popular 47-kilometre Juan de Fuca Marine Trail, which will remain closed for the summer while undergoing repairs.
- A phased reopening is expected for sections of the Juan de Fuca Marine Trail and backcountry campsites as repairs are completed.
- Since 2017, more than 2,000 campsites have been added to BC Parks and recreation sites.
- Of the 10,700 campsites BC Parks manages, approximately half are available on a first-come, first-served basis.
Learn More:

To reserve the new campsites, visit https://camping.bcparks.ca or call 1 800 689-9025

For more information about Juan de Fuca Park, visit https://bcparks.ca/juan-de-fuca-park/

For information about BC Parks, visit: https://bcparks.ca/

MIL OSI Canada News –
April 30, 2025
MIL-OSI USA: Warren Warns Walgreens Buyout by Private Equity May Lead to Pharmacy Closures, Lost Jobs in Massachusetts, Limit Access to Medication

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren
April 29, 2025
Warren seeks assurances from Sycamore Partners that its heavily-leveraged, debt-fueled acquisition of Walgreens will not lead to layoffs, store closures
After private equity looted Steward Health Care hospitals, Warren concerned that Walgreens could be next: “These private equity buyouts of companies facing financial hardship…frequently lead to worse outcomes for employees and consumers.”
Text of Letter (PDF)
Washington D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, wrote to private equity firm Sycamore Partners (Sycamore) regarding concerns that the firm’s proposed acquisition of retail pharmacy chain Walgreens may cost hardworking Massachusetts residents their jobs and create difficulties for patients who need access to lifesaving medications.
Sycamore’s multi-billion-dollar takeover of Walgreens has been touted as an attempt to keep the struggling retail pharmacy chain alive. However, private equity buyouts have a record of running already-struggling companies into the ground and producing devastating consequences for workers and communities, as witnessed by private equity’s looting of Steward Health Care, which resulted in two shuttered hospitals in Massachusetts.
“My primary concern is that Sycamore’s acquisition of Walgreens may lead to restructuring of the company that results in layoffs and pharmacy closures in the Commonwealth,” said Senator Warren.
Walgreens has already announced plans to close nine locations across Massachusetts, in addition to the six stores closed in the state within the past year. Many of the shuttered Walgreens stores are located in vulnerable communities, leaving thousands of residents without reliable pharmacy access.
Sycamore has a troubling history of leading the companies it acquires into bankruptcy, further harming already-struggling communities.
“These private equity buyouts…frequently lead to worse outcomes for employees and consumers: private equity firms sell off assets and close locations, employees lose their jobs, and consumers lose access to essential goods and services,” wrote Senator Warren.
A review by the Private Equity Stakeholder Project (PESP) revealed that the Walgreens buyout will be heavily leveraged with debt, heightening the risk of bankruptcy and threatening the availability of critical services to customers and patients.
“These are deeply troubling conclusions, suggesting that yet another private equity firm might leverage a failing health care chain to turn a profit at the expense of Massachusetts’ patients, providers, and taxpayers,” wrote Senator Warren.
Millions of customers across the United States rely on Walgreens for primary care, essential medications, and household items, and if the Walgreens-Sycamore deal leads to even more store closures, customers could be left in “pharmacy deserts” without access to necessities.
“I seek assurances that Sycamore’s buyout of Walgreens will not damage the company further, and will not cost hardworking Americans their jobs or create difficulties for patients who need access to lifesaving medications,” concluded Senator Warren.
Senator Warren requested a response identifying the impact Sycamore’s acquisition of Walgreens will have on workers and communities by May 13, 2025.
Senator Warren has repeatedly called out the harms of private equity ownership on health care costs and quality of care and has fought to prevent companies from taking advantage of the bankruptcy system:
In February 2025, Senator Warren questioned private equity executive Stephen Feinberg, President of Cerberus Capital Management and nominee for Deputy Secretary of Defense, on his actions to enrich himself and his investors at the expense of Steward Health Care patients and workers.
In October 2024, Senator Warren led colleagues in reintroducing the Stop Wall Street Looting Act, comprehensive legislation to fundamentally reform the private equity industry and level the playing field by forcing private investment firms to take responsibility for the outcomes of companies they take over, empowering workers and protecting investors. This reintroduction comes after private equity firm Cerberus looted Steward Health Care, leaving hospitals, patients, and workers hanging out to dry.
In September 2024, Senators Warren and Markey (D-Mass.), alongside Representatives Auchincloss and Lynch, sent a letter to RHG raising concerns over its proposed acquisition of Steward Health Care’s physician group, Stewardship Health.
In September 2024, Senator Warren urged the IRS to crack down on Real Estate Investment Trusts (REITs) squeezing the health care industry.
In August 2024, Senators Warren and Markey requested information from private equity firm Apollo Global Management (Apollo) on the company’s role in Steward’s bankruptcy, and urged Apollo to work in good faith to facilitate the sale of Steward’s Massachusetts hospitals.
In July 2024, Senators Warren and Markey wrote to Medical Properties Trust and Macquarie Infrastructure Partners, owners of Steward’s eight Massachusetts hospitals, urging them to offer lease concessions to keep the hospitals open and viable.
In June 2024, Senator Warren, Representative Chu, and Representative Nadler urged CMS to increase oversight of artificial intelligence (AI) and algorithmic software tools used to guide coverage decisions in Medicare Advantage (MA) plans, citing the NaviHealth scandal as cause for concern.
In June 2024, Senators Warren and Markey introduced the Corporate Crimes Against Health Care Act of 2024 to root out corporate greed and private equity abuse in the health care system, specifically preventing what happened with Steward from happening again.
In June 2024, Senator Warren wrote to the DOJ, FTC, and HHS calling out high health care costs due to vertically-integrated insurers, private equity companies, and pharmaceutical companies that are driving health care consolidation.
In June 2024, Senators Warren, Brown (D-Ohio), and Markey wrote to the Director of the U.S. Trustee Program (USTP), calling for USTP to move to appoint a Chapter 11 trustee to run the company in place of Steward’s current management, and to monitor the hospitals’ bankruptcy proceedings to protect patients and local communities.
In May 2024, Senator Warren sent a letter to the U.S. Department of Health and Human Services and the U.S. Centers for Medicare & Medicaid Services, urging them to support communities and health care providers affected by the crisis caused by Steward’s financial mismanagement.
In April 2024, Senators Warren and Senator Markey (D-Mass.) sent a letter to six private credit funds that are holders of Steward’s debt, asking them a series of questions about their loans and calling on them to offer loan modifications that could potentially help keep the hospitals afloat.
In April 2024, Senators Warren and Markey called out Medical Properties Trust and Macquarie Infrastructure Partners for exploiting Steward Hospitals, and urged them to help keep the hospitals open.
In April 2024, Senators Warren, Markey, and the rest of the MA delegation urged the FTC and DOJ to closely scrutinize UnitedHealth Group’s proposed acquisition of Steward Health Care’s physician group, Stewardship Health.
In April 2024, Senator Warren delivered remarks at a Senate hearing in Boston titled, “When Health Care Becomes Wealth Care: How Corporate Greed Puts Patient Care and Health Workers at Risk,” which centered on Steward Health Care’s Massachusetts hospitals.
In April 2024, Senators Warren and Ed Markey (D-Mass.) called out private equity firm Cerberus Capital Management (Cerberus) for its role in creating Steward Health Care’s financial challenges, following Cerberus’s reply to the Massachusetts congressional delegation’s February 2024 probe.
In February 2024, Senator Warren slammed UnitedHealth Group for leveraging NaviHealth’s unregulated artificial intelligence algorithm to unlawfully deny health care to seniors with severe injuries.
In March 2024, Senator Warren released a statement about Steward’s plan to sell its physician group Stewardship Health to UnitedHealth Group’s subsidiary Optum.
In March 2024, Senators Warren and Markey sent a letter to Steward CEO and Chairman Dr. Ralph de la Torre, calling on him to testify at a congressional hearing in Boston.
In March 2024, Senators Warren and Markey sent a letter to Dr. de la Torre, blasting him for years of financial mismanagement, private equity schemes, and executive profiteering that have led to Steward Health Care’s financial crisis.
In February 2024, Senators Warren and Markey, along with all nine members of the Massachusetts congressional delegation, sent a letter to Cerberus seeking answers from the private equity firm for its role in creating the current financial challenges at Steward hospitals.
In January 2024, Senator Warren released a statement about Steward’s financial situation and allegations of patient neglect at Steward facilities.
In January 2024, Senator Warren led the Massachusetts congressional delegation in a letter to the CEO of Steward Health Care pressing the company to brief them on Steward’s financial position, the status of their Massachusetts facilities, and their plans to ensure the communities they serve are not abandoned.

MIL OSI USA News –

April 30, 2025

MIL-OSI: Lake Shore Bancorp, Inc. Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

DUNKIRK, N.Y., April 29, 2025 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), reported unaudited net income of $1.1 million, or $0.19 per diluted share, for the first quarter of 2025 compared to net income of $1.0 million, or $0.17 per diluted share, for the first quarter of 2024. The Company’s financial performance for the first quarter of 2025 was positively impacted by an increase in net interest income along with a decrease in non-interest expenses because of efforts to optimize operating expenses while continuing to reduce its reliance on wholesale Federal Home Loan Bank of New York (“FHLBNY”) funding by $6.3 million.

“Given the ongoing economic uncertainty, I am pleased with our first quarter 2025 performance,” stated Kim C. Liddell, President, CEO, and Director. “We continue to focus efforts on improving the efficiency of our core operations while maintaining a disciplined approach to balance sheet management.”

First Quarter 2025 Financial Highlights:

Net income increased to $1.1 million during the first quarter of 2025, an increase of $43,000, or 4.2%, when compared to the first quarter of 2024. Net income was positively impacted by an increase in net interest income of $332,000, or 6.5%, when compared to the first quarter of 2024;
Net interest margin increased to 3.49% during the first quarter of 2025, an increase of 18 basis points when compared to net interest margin of 3.31% during the fourth quarter of 2024 and an increase of 39 basis points when compared to net interest margin of 3.10% during the first quarter of 2024;
Reduced reliance on wholesale funding by repaying $6.3 million of FHLBNY borrowings during the first quarter of 2025;
At March 31, 2025 and December 31, 2024, the Company’s percentage of uninsured deposits to total deposits was 11.8% and 13.5%, respectively;
Book value per share increased 0.4% to $15.74 per share at March 31, 2025 as compared to $15.67 per share at December 31, 2024; and
The Bank’s capital position remains “well capitalized” with a Tier 1 Leverage ratio of 14.31% and a Total Risk-Based Capital ratio of 18.67% at March 31, 2025.

Net Interest Income

Net interest income for the first quarter of 2025 increased by $124,000, or 2.3%, to $5.5 million as compared to $5.3 million for the fourth quarter of 2024 and increased $332,000, or 6.5%, as compared to $5.1 million for the first quarter of 2024. Net interest margin and interest rate spread were 3.49% and 2.94%, respectively, for the first quarter of 2025 as compared to 3.31% and 2.72%, respectively, for the fourth quarter of 2024 and 3.10% and 2.55%, respectively, for the first quarter of 2024.

Interest income for the first quarter of 2025 was $8.4 million, a decrease of $223,000, or 2.6%, compared to $8.6 million for the fourth quarter of 2024, and a decrease of $242,000, or 2.8%, compared to $8.6 million for the first quarter of 2024.

The decrease in interest income from the prior quarter was primarily due to a decrease in the average balance of interest-earning assets of $18.0 million, or 2.8%. Interest earned on interest-earning deposits decreased by $265,000, or 53.1%, due to a 63 basis points decrease in average yield and a $19.8 million decrease in the average balance of interest-earning deposits during the first quarter of 2025 as compared to the prior quarter.

The decrease in interest income from the prior year quarter was primarily due to a decrease in the average balance of interest-earning assets of $35.0 million, or 5.3%. The decrease was partially offset by a 14 basis points increase in the average yield on interest-earning assets. During the first quarter of 2025 as compared to the same period in 2024, there was a $364,000 decrease in interest earned on interest-earning deposits due to a decrease in the average balance and yield of interest-earning deposits of $20.5 million, or 46.5%, and 146 basis points, respectively. Additionally, during the first quarter of 2025 as compared to the same period in 2024, there was a $44,000 decrease in interest earned on securities due to a decrease in the average balance and yield of securities of $3.9 million, or 6.4%, and 11 basis points, respectively. These decreases were partially offset by a $166,000 increase in interest income on loans due to a 22 basis points increase in the average yield on loans.

Interest expense for the first quarter of 2025 was $2.9 million, a decrease of $347,000, or 10.7%, from the fourth quarter of 2024, and a decrease of $574,000, or 16.5%, from $3.5 million for the first quarter of 2024.

The decrease in interest expense when compared to the previous quarter was primarily due to a 21 basis points decrease in the average interest rate paid on interest-bearing liabilities and a $14.1 million, or 2.8%, decrease in the average balance of interest-bearing liabilities. During the first quarter of 2025 as compared to the previous quarter, interest expense on deposits decreased by $301,000, or 9.6%, due to a $9.7 million decrease in the average balance of deposits and a 20 basis points decrease in the average interest rate paid on deposit accounts. The decrease in the average interest rate paid on deposit accounts was primarily due to the decrease in market interest rates and time deposit repricing. Average interest-bearing deposit balances were $477.8 million, a 2.0% decrease during the first quarter of 2025 when compared to the previous quarter due to a decrease in the average balance of all deposit categories. Interest expense on borrowed funds and other interest-bearing liabilities decreased by $46,000 primarily due to a $4.4 million, or 41.4%, decrease in the average balance of borrowed funds and other interest-bearing liabilities due to the repayment of $6.3 million of our FHLBNY borrowings during the first quarter of 2025.

The decrease in interest expense when compared to the prior year quarter was primarily due to a 25 basis points decrease in average interest rate paid on interest-bearing liabilities and a $39.9 million, or 7.6%, decrease in the average balance of interest-bearing liabilities. During the first quarter of 2025 as compared to the same period in 2024, interest expense on deposits decreased by $402,000, or 12.4%, due to a 24 basis points decrease in the average interest rate paid on deposit accounts and a $16.6 million, or 3.4%, decrease in the average balance of deposits. The decrease in the average interest rate paid on deposit accounts was primarily due to the decrease in market interest rates and time deposit repricing. Average interest-bearing deposit balances decreased 3.4% during the first quarter of 2025 from the first quarter of 2024 due to a decrease in all deposit categories except money market accounts. During the first quarter of 2025, interest expense on borrowed funds and other interest-bearing liabilities decreased by $172,000, or 74.1%, compared to the first quarter of 2024, primarily due to a $23.3 million, or 78.9%, decrease in average borrowed funds and other interest-bearing liabilities outstanding due to the repayment of $25.0 million of FHLBNY borrowings during 2024 and $6.3 million during the first quarter of 2025.

Non-Interest Income

Non-interest income was $724,000 for the first quarter of 2025, a decrease of $344,000, or 32.2%, as compared to $1.1 million for the fourth quarter of 2024, and an increase of $17,000, or 2.4%, as compared to $707,000 for the first quarter of 2024. The decrease from the prior quarter was primarily due to a $139,000 decrease in earnings on annuity assets in connection with the purchase of annuities during the fourth quarter of 2024, a $135,000 decrease in earnings on bank-owned life insurance during the first quarter of 2025 as the result of the recognition of a death benefit in the fourth quarter of 2024, and a decrease of $31,000 in service charges and fees. The increase from the prior year quarter was primarily due to a $35,000 increase in unrealized gain on equity securities and a $22,000 increase in earnings on annuity assets in connection with the purchase of annuities during the fourth quarter of 2024.

Non-Interest Expense

Non-interest expense was $4.9 million for the first quarter of 2025, a decrease of $397,000, or 7.5%, as compared to $5.3 million for the fourth quarter of 2024, and a decrease of $117,000, or 2.3%, as compared to $5.0 million for the first quarter of 2024. The decrease from the prior quarter was primarily due to a decrease in salaries and employee benefits expense of $382,000, or 11.6%, along with a decrease in professional services expense of $50,000, or 13.7%. The decrease from the first quarter of 2024 was primarily related to a decrease in FDIC insurance of $207,000, or 74.2%.

Income Tax Expense

Income tax expense was $206,000 for the first quarter of 2025, a decrease of $72,000, or 25.9%, as compared to $278,000 for the fourth quarter of 2024, and an increase of $23,000, or 12.6%, as compared to $183,000 for the first quarter of 2024. The decrease in income tax expense from the prior quarter was primarily related to the decrease in pre-tax income earned during the current quarter, partially offset by an increase in the effective tax rate during the first quarter of 2025. The increase in income tax expense from the prior year quarter was due to an increase in pre-tax income earned during the current quarter along with an increase in the effective tax rate in the first quarter of 2025. The effective tax rate was 16.3% for the first quarter of 2025 as compared to 15.9% for the fourth quarter of 2024 and 15.3% for the first quarter of 2024.

Credit Quality

The Company’s allowance for credit losses on loans was $5.2 million as of March 31, 2025 as compared to $5.1 million as of December 31, 2024. The Company’s allowance for credit losses on unfunded commitments was $323,000 as of March 31, 2025 as compared to $314,000 as of December 31, 2024. Non-performing assets as a percent of total assets decreased to 0.50% at March 31, 2025 as compared to 0.55% at December 31, 2024, primarily due to a decrease in non-performing assets of $332,000, or 8.7%. On March 26, 2025, one commercial relationship with two loans representing a total amortized cost of $1.2 million on non-accrual status was sold at foreclosure. Subject to customary foreclosure proceedings, the Bank expects the sale to close during the second quarter of this year. The Company’s allowance for credit losses on loans as a percent of loans at amortized cost was 0.93% at March 31, 2025 and December 31, 2024.

The Company recorded a provision for credit losses of $48,000 for the first quarter of 2025, of which $39,000 related to the loan portfolio and $9,000 related to the reserve for unfunded commitments.

The increase in the allowance for credit losses on loans and unfunded commitments and the corresponding provision for credit losses recognized during the first quarter of 2025 was the result of an increase to the quantitative estimated loss calculation inclusive of forecasted economic trends, primarily related to the mortgage loan pools, including residential mortgages and commercial real estate mortgages.

Balance Sheet Summary

Total assets at March 31, 2025 were $689.0 million, a $3.5 million increase, or 0.5%, as compared to $685.5 million at December 31, 2024. Cash and cash equivalents decreased by $2.7 million, or 8.2%, from $33.1 million at December 31, 2024 to $30.4 million at March 31, 2025. The decrease in cash and cash equivalents was primarily due to an increase in loans receivable, net of $7.0 million, or 1.3%, and a decrease in long-term debt due to the repayment of FHLBNY borrowings of $6.3 million in the first quarter of 2025. These decreases were partially offset by an increase in total deposits of $9.8 million, or 1.7%. Securities available for sale were $55.8 million at March 31, 2025 as compared to $56.5 million at December 31, 2024 which decrease was primarily due to repayments during the first quarter of 2025. Net loans receivable at March 31, 2025 and December 31, 2024 were $551.6 million and $544.6 million, respectively. Total deposits at March 31, 2025 were $582.7 million, an increase of $9.8 million, or 1.7%, compared to $573.0 million at December 31, 2024. Total borrowings decreased to $4.0 million at March 31, 2025, a decrease of $6.3 million, or 61.0%, as compared to $10.3 million as of December 31, 2024.

Stockholders’ equity at March 31, 2025 was $90.7 million, a $794,000, or 0.9%, increase as compared to $89.9 million at December 31, 2024. The increase in stockholders’ equity was primarily attributed to $1.1 million in net income earned during the first quarter of 2025.

About Lake Shore

Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about the Company is available at www.lakeshoresavings.com.

Safe-Harbor

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, tariffs, unanticipated changes in our liquidity position, climate change, public health issues, geopolitical conflict, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.

Source: Lake Shore Bancorp, Inc.
Category: Financial

Investor Relations/Media Contact
Kim C. Liddell
President, CEO, and Director
Lake Shore Bancorp, Inc.
31 East Fourth Street
Dunkirk, New York 14048
(716) 366-4070 ext. 1012

Selected Financial Condition Data

		March 31,		December 31,
		2025		2024
		(Unaudited)
		(Dollars in thousands)

Total assets	$	688,996	$	685,504
Cash and cash equivalents		30,428		33,131
Securities, at fair value		55,801		56,495
Loans receivable, net		551,640		544,620
Deposits		582,730		572,978
Long-term debt		4,000		10,250
Stockholders’ equity		90,662		89,868

Statements of Income

		Three Months Ended
		March 31,
		2025			2024
	(Unaudited)
	(Dollars in thousands, except per share amounts)
Interest income	$	8,367		$	8,609
Interest expense		2,902			3,476
Net interest income		5,465			5,133
Provision (credit) for credit losses		48			(352	)
Net interest income after provision (credit) for credit losses		5,417			5,485
Total non-interest income		724			707
Total non-interest expense		4,878			4,995
Income before income taxes		1,263			1,197
Income tax expense		206			183
Net income	$	1,057		$	1,014
Basic and diluted earnings per share	$	0.19		$	0.17

Selected Financial Ratios
Return on average assets⁽¹⁾		0.62	%		0.57	%
Return on average equity⁽¹⁾		4.65	%		4.69	%
Average interest-earning assets to average interest-bearing liabilities		129.52	%		126.33	%
Interest rate spread⁽¹⁾		2.94	%		2.55	%
Net interest margin⁽¹⁾		3.49	%		3.10	%
Efficiency ratio		78.82	%		85.53	%

(1) Annualized.

Average Balance Sheets, Interest, and Rates (Quarterly Comparison)

	For the Three Months Ended						For the Three Months Ended
	March 31, 2025						March 31, 2024
	Average		Interest Income/		Yield/		Average		Interest Income/		Yield/
	Balance		Expense		Rate⁽²⁾		Balance		Expense		Rate⁽²⁾
	(Unaudited)
	(Dollars in thousands)
Interest-earning assets:
Interest-earning deposits & federal funds sold	$	23,562	$	234	3.97	%	$	44,038	$	598	5.43	%
Securities⁽¹⁾		57,804		381	2.64	%		61,728		425	2.75	%
Loans, including fees		545,561		7,752	5.68	%		556,151		7,586	5.46	%
Total interest-earning assets		626,927		8,367	5.34	%		661,917		8,609	5.20	%
Other assets		51,656						50,866
Total assets	$	678,583					$	712,783

Interest-bearing liabilities
Demand & NOW accounts	$	62,784	$	15	0.10	%	$	69,753	$	17	0.10	%
Money market accounts		152,680		867	2.27	%		139,794		966	2.76	%
Savings accounts		53,541		9	0.07	%		62,684		11	0.07	%
Time deposits		208,804		1,951	3.74	%		222,179		2,250	4.05	%
Borrowed funds & other interest-bearing liabilities		6,237		60	3.85	%		29,556		232	3.14	%
Total interest-bearing liabilities		484,046		2,902	2.40	%		523,966		3,476	2.65	%
Other non-interest bearing liabilities		103,593						102,299
Stockholders’ equity		90,944						86,518
Total liabilities & stockholders’ equity	$	678,583					$	712,783
Net interest income			$	5,465					$	5,133
Interest rate spread					2.94	%					2.55	%
Net interest margin					3.49	%					3.10	%

(1) The tax equivalent adjustment for bank qualified tax exempt municipal securities, using a federal statutory rate of 21%, results in rates of 3.04% and 3.13% for the three months ended March 31, 2025 and 2024, respectively. Yields above are not presented on a tax equivalent basis.
(2) Annualized.

Average Balance Sheets, Interest, and Rates (Prior Quarter Comparison)

	For the Three Months Ended						For the Three Months Ended
	March 31, 2025						December 31, 2024
	Average		Interest Income/		Yield/		Average		Interest Income/		Yield/
	Balance		Expense		Rate⁽²⁾		Balance		Expense		Rate⁽²⁾
	(Dollars in thousands)
Interest-earning assets:
Interest-earning deposits & federal funds sold	$	23,562	$	234	3.97	%	$	43,366	$	499	4.60	%
Securities⁽¹⁾		57,804		381	2.64	%		61,137		388	2.54	%
Loans, including fees		545,561		7,752	5.68	%		540,376		7,703	5.70	%
Total interest-earning assets		626,927		8,367	5.34	%		644,879		8,590	5.33	%
Other assets		51,656						49,207
Total assets	$	678,583					$	694,086

Interest-bearing liabilities
Demand & NOW accounts	$	62,784	$	15	0.10	%	$	64,465	$	15	0.09	%
Money market accounts		152,680		867	2.27	%		153,407		912	2.38	%
Savings accounts		53,541		9	0.07	%		55,451		9	0.06	%
Time deposits		208,804		1,951	3.74	%		214,150		2,207	4.12	%
Borrowed funds & other interest-bearing liabilities		6,237		60	3.85	%		10,641		106	3.98	%
Total interest-bearing liabilities		484,046		2,902	2.40	%		498,114		3,249	2.61	%
Other non-interest bearing liabilities		103,593						105,881
Stockholders’ equity		90,944						90,091
Total liabilities & stockholders’ equity	$	678,583					$	694,086
Net interest income			$	5,465					$	5,341
Interest rate spread					2.94	%					2.72	%
Net interest margin					3.49	%					3.31	%

(1) The tax equivalent adjustment for bank qualified tax exempt municipal securities, using a federal statutory rate of 21%, results in rates of 3.04% and 2.91% for the three months ended March 31, 2025 and December 31, 2024, respectively. Yields above are not presented on a tax equivalent basis.
(2) Annualized.

Selected Quarterly Financial Data

	As of or For the Three Months Ended
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
	(Unaudited)
	(Dollars in thousands, except per share amounts)
Selected Financial Condition Data:
Total assets	$	688,996		$	685,504		$	697,596		$	711,042		$	717,582
Cash and cash equivalents		30,428			33,131			49,981			60,987			54,953
Securities, at fair value		55,801			56,495			58,782			57,309			58,682
Loans receivable, net		551,640			544,620			539,005			544,337			555,455
Deposits		582,730			572,978			587,563			589,395			594,704
Long-term debt		4,000			10,250			10,250			23,250			25,250
Stockholders’ equity		90,662			89,868			89,877			86,932			86,510

Condensed Statements of Income:
Interest income	$	8,367		$	8,590		$	8,851		$	8,754		$	8,609
Interest expense		2,902			3,249			3,468			3,548			3,476
Net interest income		5,465			5,341			5,383			5,206			5,133
Provision (credit) for credit losses		48			(613	)		(229	)		(285	)		(352	)
Net interest income after provision (credit) for credit losses		5,417			5,954			5,612			5,491			5,485
Total non-interest income		724			1,068			791			738			707
Total non-interest expense		4,878			5,275			4,813			4,897			4,995
Income before income taxes		1,263			1,747			1,590			1,332			1,197
Income tax expense		206			278			258			216			183
Net income	$	1,057		$	1,469		$	1,332		$	1,116		$	1,014
Basic and diluted earnings per share	$	0.19		$	0.26		$	0.24		$	0.19		$	0.17

Selected Financial Ratios:
Return on average assets⁽¹⁾		0.62	%		0.85	%		0.76	%		0.63	%		0.57	%
Return on average equity⁽¹⁾		4.65	%		6.52	%		6.03	%		5.19	%		4.69	%
Average interest-earning assets to average interest-bearing liabilities		129.52	%		129.46	%		128.81	%		127.00	%		126.33	%
Interest rate spread⁽¹⁾		2.94	%		2.72	%		2.67	%		2.56	%		2.55	%
Net interest margin⁽¹⁾		3.49	%		3.31	%		3.28	%		3.14	%		3.10	%
Efficiency ratio		78.82	%		82.30	%		77.96	%		82.39	%		85.53	%

Asset Quality Ratios:
Non-performing loans as a percent of loans at amortized cost		0.62	%		0.69	%		0.74	%		0.73	%		0.71	%
Non-performing assets as a percent of total assets		0.50	%		0.55	%		0.57	%		0.56	%		0.55	%
Allowance for credit losses on loans as a percent of loans at amortized cost		0.93	%		0.93	%		1.01	%		1.08	%		1.12	%
Allowance for credit losses on loans as a percent of non-performing loans		148.89	%		134.91	%		137.03	%		148.20	%		157.62	%

Share Information:
Common stock, number of shares outstanding		5,760,272			5,735,226			5,737,036			5,737,036			5,684,784
Treasury stock, number of shares held		1,076,242			1,101,288			1,099,478			1,099,478			1,151,730
Book value per share	$	15.74		$	15.67		$	15.67		$	15.15		$	15.22
Tier 1 leverage ratio		14.31	%		13.83	%		13.37	%		13.02	%		12.87	%
Total risk-based capital ratio		18.67	%		18.79	%		18.85	%		18.64	%		18.13	%

(1) Annualized

The MIL Network –

April 30, 2025

MIL-OSI: Sound Financial Bancorp, Inc. Q1 2025 Results

Source: GlobeNewswire (MIL-OSI)

SEATTLE, April 29, 2025 (GLOBE NEWSWIRE) — Sound Financial Bancorp, Inc. (the “Company”) (Nasdaq: SFBC), the holding company for Sound Community Bank (the “Bank”), today reported net income of $1.2 million for the quarter ended March 31, 2025, or $0.45 diluted earnings per share, as compared to net income of $1.9 million, or $0.74 diluted earnings per share, for the quarter ended December 31, 2024, and $770 thousand, or $0.30 diluted earnings per share, for the quarter ended March 31, 2024. The Company also announced today that its Board of Directors declared a cash dividend on the Company’s common stock of $0.19 per share, payable on May 23, 2025 to stockholders of record as of the close of business on May 9, 2025.

Comments from the President / Chief Executive Officer and Chief Financial Officer

“Despite ongoing economic uncertainty, we remained focused on lowering our cost of deposits and originating new loans at higher rates, which contributed to a 12-basis point improvement in our net interest margin compared to the prior quarter. This reflects the team’s strong efforts to build full banking relationships by addressing both the lending and deposit needs of our consumer and business clients,” remarked Laurie Stewart, President and Chief Executive Officer.

“We continue to prioritize expense management, even though expenses increased compared to the previous quarter. The quarter-over-quarter increase was largely due to typical year-end accrual adjustments and annual expenses that are recognized in the first quarter. However, when compared to the first quarter of 2024, we have seen reductions in combined salaries and benefits, and operational expenses, thanks to our investments in technology. We also expect the year-over-year growth in data processing costs to moderate as the year progresses,” explained Wes Ochs, Executive Vice President and Chief Financial Officer.

Mr. Ochs continued, “While we did see an increase in nonperforming loans this quarter mainly due to two specific credits, one of which has since been repaid, we have not observed broader signs of stress in the loan portfolio. Importantly, we also successfully exited a $17 million loan that had been rated as special mention, which contributed to the decline in overall loan balances. Notably, 83% of our nonperforming loans are tied to just four loans, each with its own unique circumstances. These loans are well-secured, and we are actively working toward resolutions in the near-term.”


Q1 2025 Financial Performance
Total assets increased $75.6 million or 7.6% to $1.07 billion at March 31, 2025, from $993.6 million at December 31, 2024, and decreased $17.5 million or 1.6% from $1.09 billion at March 31, 2024.				Net interest income decreased $149 thousand or 1.8% to $8.1 million for the quarter ended March 31, 2025, from $8.2 million for the quarter ended December 31, 2024, and increased $611 thousand or 8.2% from $7.5 million for the quarter ended March 31, 2024.

Loans held-for-portfolio decreased $13.9 million or 1.5% to $886.2 million at March 31, 2025, compared to $900.2 million at December 31, 2024, and decreased $11.7 million or 1.3% from $897.9 million at March 31, 2024.				Net interest margin (“NIM”), annualized, was 3.25% for the quarter ended March 31, 2025, compared to 3.13% for the quarter ended December 31, 2024 and 2.95% for the quarter ended March 31, 2024.

Total deposits increased $72.5 million or 8.7% to $910.3 million at March 31, 2025, from $837.8 million at December 31, 2024, and decreased $6.5 million or 0.7% from $916.9 million at March 31, 2024. Noninterest-bearing deposits decreased $5.8 million or 4.4% to $126.7 million at March 31, 2025 compared to $132.5 million at December 31, 2024, and decreased $2.0 million or 1.5% compared to $128.7 million at March 31, 2024.				A $203 thousand release of provision for credit losses was recorded for the quarter ended March 31, 2025, compared to a $14 thousand provision and a $33 thousand release of provision for credit losses for the quarters ended December 31, 2024 and March 31, 2024, respectively. At March 31, 2025, the allowance for credit losses on loans to total loans outstanding was 0.95%, compared to 0.94% at December 31, 2024 and 0.96% at March 31, 2024.

The loans-to-deposits ratio was 98% at March 31, 2025, compared to 108% at December 31, 2024 and 98% at March 31, 2024.				Total noninterest income decreased $62 thousand or 5.3% to $1.1 million for the quarter ended March 31, 2025, compared to the quarter ended December 31, 2024, and was virtually unchanged compared to the quarter ended March 31, 2024.

Total nonperforming loans increased $2.2 million or 28.9% to $9.7 million at March 31, 2025, from $7.5 million at December 31, 2024, and increased $600 thousand or 6.6% from $9.1 million at March 31, 2024. Nonperforming loans to total loans was 1.09% and the allowance for credit losses on loans to total nonperforming loans was 86.95% at March 31, 2025.				Total noninterest expense increased $856 thousand or 12.1% to $7.9 million for the quarter ended March 31, 2025, compared to the quarter ended December 31, 2024, and increased $258 thousand or 3.4% compared to the quarter ended March 31, 2024.

				The Bank continued to maintain capital levels in excess of regulatory requirements and was categorized as “well-capitalized” at March 31, 2025.

Operating Results

Net Interest Income after (Release of) Provision for Credit Losses

	For the Quarter Ended								Q1 2025 vs. Q4 2024					Q1 2025 vs. Q1 2024
	March 31, 2025			December 31, 2024		March 31, 2024			Amount ($)			Percentage (%)		Amount ($)			Percentage (%)
	(Dollars in thousands, unaudited)
Interest income	$	13,706		$	14,736	$	13,760		$	(1,030	)	(7.0)	%	$	(54	)	(0.4)	%
Interest expense		5,635			6,516		6,300			(881	)	(13.5)	%		(665	)	(10.6)	%
Net interest income		8,071			8,220		7,460			(149	)	(1.8)	%		611		8.2	%
(Release of) provision for credit losses		(203	)		14		(33	)		(217	)	(1550.0)	%		(170	)	515.2	%
Net interest income after (release of) provision for credit losses		8,274			8,206		7,493			68		0.8	%		781		10.4	%

Q1 2025 vs Q4 2024

The decrease in interest income from the prior quarter was primarily due to a lower average balance of loans, investments and interest-earning cash, an eight basis point decline in the average yield on loans, a 41 basis point decline in the average yield on interest-bearing cash, and a 57 basis point decline in the average yield on investments.

Interest income on loans decreased $482 thousand, or 3.7%, to $12.6 million for the quarter ended March 31, 2025, compared to $13.1 million for the quarter ended December 31, 2024. The average balance of total loans was $896.8 million for the quarter ended March 31, 2025, down from $900.8 million for the quarter ended December 31, 2024. The decrease in the average balance of total loans was primarily due to declines in construction and land loans and one-to-four family loans, offset by growth in commercial and multifamily loans and home equity loans. The average balances for manufactured home loans, floating home loans, commercial business loans, and other consumer loans remained relatively flat from the fourth quarter of 2024. The average yield on total loans was 5.69% for the quarter ended March 31, 2025, down from 5.77% for the quarter ended December 31, 2024. The decline was primarily due to interest that was reversed on nonaccrual loans during the first quarter, as well as interest that had been recognized on those loans in the fourth quarter. This was partly offset by new loans being made at higher interest rates and some variable-rate loans adjusting upward. Interest income on investments was $108 thousand for the quarter ended March 31, 2025, compared to $132 thousand for the quarter ended December 31, 2024. Interest income on interest-bearing cash decreased $524 thousand to $1.0 million for the quarter ended March 31, 2025, compared to $1.5 million for the quarter ended December 31, 2024. This decrease was a result of both lower average yields and average balances during the quarter.

The decrease in interest expense during the current quarter from the prior quarter was primarily the result of lower average balances and rates paid on all categories of interest-bearing deposits. The average cost of deposits was 2.37% for the quarter ended March 31, 2025, down from 2.58% for the quarter ended December 31, 2024 as higher costing deposits repriced lower due to market interest rate cuts beginning in September 2024. The average cost of FHLB advances was 4.25% for the quarter ended March 31, 2025, down from 4.31% for the quarter ended December 31, 2024.

A release of provision for credit losses of $203 thousand was recorded for the quarter ended March 31, 2025, consisting of a release of provision for credit losses on loans of $85 thousand and a release of provision for credit losses on unfunded loan commitments of $118 thousand. This compared to a provision for credit losses of $14 thousand for the quarter ended December 31, 2024, consisting of a release of provision for credit losses on loans of $73 thousand and a provision for credit losses on unfunded loan commitments of $87 thousand. The decrease in the provision for credit losses for the quarter ended March 31, 2025 compared to the quarter ended December 31, 2024 resulted primarily from a smaller loan portfolio and a reduced balance of unfunded commitments, partially offset by an additional qualitative adjustment applied to certain loan segments, specifically consumer and construction loans, reflecting increased uncertainty in market conditions tied to the impact of tariffs and other external factors affecting our clients. Expected credit loss estimates consider various factors, including market conditions, borrower-specific information, projected delinquencies, and anticipated effects of economic trends on borrowers’ ability to repay.

Q1 2025 vs Q1 2024

Interest income on loans increased $355 thousand, or 2.9%, to $12.6 million for the quarter ended March 31, 2025, compared to $12.2 million for the quarter ended March 31, 2024. The average balance of total loans was $896.8 million for the quarter ended March 31, 2025, up from $895.4 million for the quarter ended March 31, 2024. The average yield on total loans was 5.69% for the quarter ended March 31, 2025, up from 5.49% for the quarter ended March 31, 2024. The increase in the average loan yield during the current quarter, compared to the same quarter in 2024, was primarily due to the origination of new loans at higher interest rates. Additionally, variable-rate loans resetting to higher rates contributed to the increase in average yield compared to the first quarter of 2024. Interest income on investments was $108 thousand for the quarter ended March 31, 2025, compared to $111 thousand for the quarter ended March 31, 2024. Interest income on interest-bearing cash decreased $406 thousand to $1.0 million for the quarter ended March 31, 2025, compared to $1.4 million for the quarter ended March 31, 2024. The decrease was a result of both a lower average yield and average balance.

The decrease in interest expense during the current quarter from the same quarter a year ago was primarily the result of a $18.9 million decrease in the average balance of interest-bearing demand and NOW accounts, a $25.5 million decrease in the average balance of certificate accounts, and a $15.0 million decrease in the average balance of FHLB advances, as well as lower average rates paid on all categories of interest-bearing deposits; resulting from lower market interest rates generally. These average-balance decreases were partially offset by a $51.0 million increase in the average balance of savings and money market accounts. The average cost of deposits was 2.37% for the quarter ended March 31, 2025, down from 2.57% for the quarter ended March 31, 2024. The average cost of FHLB advances was 4.25% for the quarter ended March 31, 2025, down from 4.31% for the quarter ended March 31, 2024.

Noninterest Income

	For the Quarter Ended								Q1 2025 vs. Q4 2024					Q1 2025 vs. Q1 2024
	March 31, 2025			December 31, 2024		March 31, 2024			Amount ($)			Percentage (%)		Amount ($)			Percentage (%)
	(Dollars in thousands, unaudited)
Service charges and fee income	$	684		$	619	$	612		$	65		10.5	%	$	72		11.8	%
Earnings on bank-owned life insurance (“BOLI”)		195			127		177			68		53.5	%		18		10.2	%
Mortgage servicing income		269			277		282			(8	)	(2.9)	%		(13	)	(4.6)	%
Fair value adjustment on mortgage servicing rights		(99	)		77		(65	)		(176	)	(228.6)	%		(34	)	52.3	%
Net gain on sale of loans		49			53		90			(4	)	(7.5)	%		(41	)	(45.6)	%
Other income		—			7		—			(7	)	(100.0)	%		—		100.0	%
Total noninterest income	$	1,098		$	1,160	$	1,096		$	(62	)	(5.3)	%	$	2		0.2	%

Q1 2025 vs Q4 2024

The decrease in noninterest income during the current quarter compared to the quarter ended December 31, 2024 was primarily related to

a $176 thousand downward adjustment in fair value of mortgage servicing rights due to a smaller servicing portfolio, partially offset by :
an increase of $68 thousand in earnings from BOLI primarily due to the strategic decision to surrender and exchange existing policies into higher yielding policies in the first quarter, offset by fluctuations in financial markets which decreased the values of policies; and
a $65 thousand increase in service charges and fee income due to a volume incentive paid by Mastercard in the first quarter of 2025 and higher interchange income.

Loans sold during the quarter ended March 31, 2025, totaled $2.0 million, compared to $3.5 million and $4.2 million of loans sold during the quarters ended December 31, 2024 and March 31, 2024, respectively.

Q1 2025 vs Q1 2024

The increase in noninterest income during the current quarter compared to the quarter ended March 31, 2024 was primarily due to

a $72 thousand increase in service charges and fee income primarily due to the reasons noted above, and
an $18 thousand increase in earnings from BOLI primarily due to the strategic decision to surrender and exchange existing policies into higher yielding policies in the first quarter, offset by fluctuations in financial markets, which reduced the values of policies. The increases in service charges and fee income and in earnings from BOLI were partially offset by
a $13 thousand decrease in mortgage servicing income as a result of the portfolio paying down at a faster rate than originations replace repayments;
a $34 thousand decrease in the fair value adjustment on mortgage servicing rights due to a smaller servicing portfolio; and
a $41 thousand decrease in net gain on sale of loans due to fewer loans sold.

Noninterest Expense

	For the Quarter Ended							Q1 2025 vs. Q4 2024				Q1 2025 vs. Q1 2024
	March 31, 2025		December 31, 2024			March 31, 2024		Amount ($)		Percentage (%)		Amount ($)			Percentage (%)
	(Dollars in thousands, unaudited)
Salaries and benefits	$	4,595	$	3,920		$	4,543	$	675	17.2	%	$	52		1.1	%
Operations		1,365		1,329			1,457		36	2.7	%		(92	)	(6.3)	%
Regulatory assessments		221		189			189		32	16.9	%		32		16.9	%
Occupancy		437		409			444		28	6.8	%		(7	)	(1.6)	%
Data processing		1,293		1,232			1,017		61	5.0	%		276		27.1	%
Net loss (gain) on OREO and repossessed assets		3		(21	)		6		24	(114.3)	%		(3	)	(50.0)	%
Total noninterest expense	$	7,914	$	7,058		$	7,656	$	856	12.1	%	$	258		3.4	%

Q1 2025 vs Q4 2024

The increase in noninterest expense during the current quarter from the quarter ended December 31, 2024 was primarily a result of:

a $675 thousand increase in salaries and benefits related to higher salaries expense, partially due to accrual reversals in the fourth quarter 2024, along with an annual deferred compensation contribution for key executives made in the first quarter of each year, higher 401(k) contributions, and higher payroll taxes related to annual bonus payments;
a $32 thousand increase in regulatory assessments due to a higher estimated accrual for exam costs;
a $28 thousand increase in occupancy due to higher annual property charges and maintenance fees recognized in the first quarter;
a $61 thousand increase in data processing due to higher vendor fees associated with annual subscription renewals; and
a $24 thousand increase in OREO and repossessed assets due to the addition of a new property in the first quarter of 2025 and the absence of property sales in the prior quarter.

Q1 2025 vs Q1 2024

The increase in noninterest expense during the current quarter from the quarter ended March 31, 2024 was primarily a result of:

a $276 thousand increase in data processing expenses due to various project implementations that began amortizing in the third quarter of 2024 and the reimbursement of expenses by a software vendor in the first quarter of 2024;
a $32 thousand increase in regulatory assessment expenses due to a higher estimated accrual for exam costs.

These increases were partially offset by a $92 thousand decrease in operations expense, primarily due to the recognition of annual fee reimbursements from Mastercard beginning in the first quarter of 2025 and lower expenses across various accounts resulting from ongoing cost saving initiatives and process improvements.

Balance Sheet Review, Capital Management and Credit Quality

Assets at March 31, 2025 totaled $1.07 billion, up from $993.6 million at December 31, 2024 and down from $1.09 billion at March 31, 2024. The increase in total assets from December 31, 2024 was primarily due to an increase in cash and cash equivalents, partially offset by a lower balance of loans held-for-portfolio. The decrease from one year ago was primarily a result of lower balances of cash and cash equivalents and loans held-for-portfolio.

Cash and cash equivalents increased $87.9 million, or 201.3%, to $131.5 million at March 31, 2025, compared to $43.6 million at December 31, 2024, and decreased $6.5 million, or 4.7%, from $138.0 million at March 31, 2024. The increased cash and cash equivalents from the prior quarter-end was primarily due to the strategic decision to sell reciprocal deposits at the end of 2024, which reduced our cash balances. These reciprocal deposits returned to our balance sheet in the first quarter of 2025.

Investment securities decreased $110 thousand, or 1.1%, to $9.8 million at March 31, 2025, compared to $9.9 million at December 31, 2024, and decreased $462 thousand, or 4.5%, from $10.3 million at March 31, 2024, as pay-offs and paydowns of investments exceeded new purchases. Held-to-maturity securities totaled $2.1 million at both March 31, 2025 and December 31, 2024, and totaled $2.2 million at March 31, 2024. Available-for-sale securities totaled $7.7 million at March 31, 2025, compared to $7.8 million at December 31, 2024 and $8.1 million at March 31, 2024.

Loans held-for-portfolio were $886.2 million at March 31, 2025, compared to $900.2 million at December 31, 2024 and $897.9 million at March 31, 2024. The decrease from both prior dates was primarily due to the payoff during the first quarter of 2025 of one $17.0 million loan that was risk rated special mention.

Nonperforming assets (“NPAs”), which are comprised of nonaccrual loans (including nonperforming modified loans), other real estate owned (“OREO”) and other repossessed assets, increased $2.2 million, or 29.4%, to $9.7 million at March 31, 2025, from $7.5 million at December 31, 2024 and decreased $49 thousand, or 0.5%, from $9.7 million at March 31, 2024. The increase in NPAs from December 31, 2024 was primarily due to the addition of six loans totaling $2.4 million to nonaccrual status, including two commercial real estate loans of $1.1 million and $988 thousand. The increase also included $41 thousand of other real estate owned properties. These additions were partially offset by $207 thousand in regular loan payments. Subsequent to quarter-end, the $988 thousand commercial real estate loan added during the quarter was paid-off. The decrease in NPAs from one year ago was primarily due to payoffs totaling $2.1 million, the return of $522 thousand of loans to accrual status, the sale of two other real estate owned properties for $690 thousand, and regular loan payments. These decreases were partially offset by the placement of an additional $3.6 million of loans on nonaccrual status, which included the two commercial real estate loans noted above.

NPAs to total assets were 0.91%, 0.75% and 0.90% at March 31, 2025, December 31, 2024 and March 31, 2024, respectively. The allowance for credit losses on loans to total loans outstanding was 0.95% at March 31, 2025, compared to 0.94% at December 31, 2024 and 0.96% at March 31, 2024. Net loan charge-offs for the first quarter of 2025 totaled $21 thousand, compared to $13 thousand for the fourth quarter of 2024, and $56 thousand for the first quarter of 2024.

The following table summarizes our NPAs at the dates indicated (dollars in thousands):

	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Nonperforming Loans:
One-to-four family	$	762		$	537		$	745		$	822		$	835
Home equity loans		368			298			338			342			83
Commercial and multifamily		5,627			3,734			4,719			5,161			4,747
Construction and land		22			24			25			28			29
Manufactured homes		501			521			230			136			166
Floating homes		2,363			2,363			2,377			2,417			3,192
Commercial business		—			11			23			—			—
Other consumer		10			3			32			3			1
Total nonperforming loans		9,653			7,491			8,489			8,909			9,053
OREO and Other Repossessed Assets:
Commercial and multifamily		—			—			—			—			575
Manufactured homes		41			—			115			115			115
Total OREO and repossessed assets		41			—			115			115			690
Total NPAs	$	9,694		$	7,491		$	8,604		$	9,024		$	9,743

Percentage of Nonperforming Loans:
One-to-four family		7.9	%		7.3	%		8.7	%		9.1	%		8.5	%
Home equity loans		3.8			4.0			3.9			3.8			0.9
Commercial and multifamily		58.0			49.8			54.8			57.2			48.7
Construction and land		0.2			0.3			0.3			0.3			0.3
Manufactured homes		5.2			7.0			2.7			1.5			1.7
Floating homes		24.4			31.5			27.6			26.8			32.8
Commercial business		—			0.1			0.3			—			—
Other consumer		0.1			—			0.4			—			—
Total nonperforming loans		99.6			100.0			98.7			98.7			92.9
Percentage of OREO and Other Repossessed Assets:
Commercial and multifamily		—			—			—			—			5.9
Manufactured homes		0.4			—			1.3			1.3			1.2
Total OREO and repossessed assets		0.4			—			1.3			1.3			7.1
Total NPAs		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

The following table summarizes the allowance for credit losses at the dates and for the periods indicated (dollars in thousands, unaudited):

	At or For the Quarter Ended:
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Allowance for Credit Losses on Loans
Balance at beginning of period	$	8,499		$	8,585		$	8,493		$	8,598		$	8,760
(Release of) provision for credit losses during the period		(85	)		(73	)		106			(88	)		(106	)
Net charge-offs during the period		(21	)		(13	)		(14	)		(17	)		(56	)
Balance at end of period	$	8,393		$	8,499		$	8,585		$	8,493		$	8,598
Allowance for Credit Losses on Unfunded Loan Commitments
Balance at beginning of period	$	234		$	147		$	245		$	266		$	193
Provision for (release of) provision for credit losses during the period		(118	)		87			(98	)		(21	)		73
Balance at end of period		116			234			147			245			266
Allowance for Credit Losses	$	8,509		$	8,733		$	8,732		$	8,738		$	8,864
Allowance for credit losses on loans to total loans		0.95	%		0.94	%		0.95	%		0.96	%		0.96	%
Allowance for credit losses to total loans		0.96	%		0.97	%		0.97	%		0.98	%		0.99	%
Allowance for credit losses on loans to total nonperforming loans		86.95	%		113.46	%		101.13	%		95.33	%		94.97	%
Allowance for credit losses to total nonperforming loans		88.15	%		116.58	%		102.86	%		98.08	%		97.91	%

Total deposits increased $72.5 million, or 8.7%, to $910.3 million at March 31, 2025, from $837.8 million at December 31, 2024 and decreased $6.5 million, or 0.7%, from $916.9 million at March 31, 2024. The increase in total deposits compared to the prior quarter-end was primarily a result of the movement of reciprocal deposits off balance sheet for strategic objectives at year-end, followed by the return of those deposits to our balance sheet in the first quarter of 2025, and a decrease in one high cost money market deposit relationship as part of our strategic decision to decrease our overall cost of funds. Noninterest-bearing deposits decreased $5.8 million, or 4.4%, to $126.7 million at March 31, 2025, compared to $132.5 million at December 31, 2024 and decreased $2.0 million, or 1.5%, from $128.7 million at March 31, 2024. Noninterest-bearing deposits represented 13.9%, 15.8% and 14.0% of total deposits at March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

FHLB advances totaled $25.0 million at March 31, 2025, compared to $25.0 million at both December 31, 2024, and March 31, 2024. FHLB advances are primarily used to support organic loan growth and to maintain liquidity ratios in line with our asset/liability objectives. FHLB advances outstanding at March 31, 2025 had maturities ranging from early 2026 through early 2028. Subordinated notes, net totaled $11.8 million at both March 31, 2025 and December 31, 2024, and $11.7 million at March 31, 2024.

Stockholders’ equity totaled $104.4 million at March 31, 2025, an increase of $765 thousand, or 0.7%, from $103.7 million at December 31, 2024, and an increase of $3.4 million, or 3.4%, from $101.0 million at March 31, 2024. The increase in stockholders’ equity from December 31, 2024 was primarily the result of $1.2 million of net income earned during the current quarter, $81 thousand in share-based compensation, and $21 thousand in common stock options exercised, partially offset by a $17 thousand increase in accumulated other comprehensive loss, net of tax and the payment of $487 thousand in cash dividends to the Company’s stockholders.

Sound Financial Bancorp, Inc., a bank holding company, is the parent company of Sound Community Bank, which is headquartered in Seattle, Washington and has full-service branches in Seattle, Tacoma, Mountlake Terrace, Sequim, Port Angeles, Port Ludlow and University Place. Sound Community Bank is a Fannie Mae Approved Lender and Seller/Servicer with one loan production office located in the Madison Park neighborhood of Seattle. For more information, please visit www.soundcb.com.

Forward-Looking Statements Disclaimer

When used in this press release and in documents filed or furnished by Sound Financial Bancorp, Inc. (the “Company”) with the Securities and Exchange Commission (the “SEC”), in the Company’s other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “intends” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which are based on various underlying assumptions and expectations and are subject to risks, uncertainties and other unknown factors, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors listed below or because of other factors that we cannot foresee that could cause our actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.

Factors which could cause actual results to differ materially, include, but are not limited to: adverse impacts to economic conditions in the Company’s local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation or deflation, a recession or slowed economic growth, as well as supply chain disruptions; changes in the interest rate environment, including increases and decreases in the Board of Governors of the Federal Reserve System (the Federal Reserve) benchmark rate and the duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; changes in consumer spending, borrowing and savings habits; fluctuations in interest rates; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; the Company’s ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in the Company’s market area; secondary market conditions for loans;expectations regarding key growth initiatives and strategic priorities; environmental, social and governance goals and targets; results of examinations of the Company or the Bank by their regulators; increased competition; changes in management’s business strategies; legislative changes; changes in the regulatory and tax environments in which the Company operates; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on our third-party vendors; the potential for new or increased tariffs, trade restrictions, or geopolitical tensions that could affect economic activity or specific industry sectors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; and other factors described in the Company’s latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other documents filed with or furnished to the SEC, which are available at www.soundcb.com and on the SEC’s website at www.sec.gov. The risks inherent in these factors could cause the Company’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company and could negatively affect the Company’s operating and stock performance.

The Company does not undertake—and specifically disclaims any obligation—to revise any forward-looking statement to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statement.

CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, unaudited)

	For the Quarter Ended
	March 31, 2025			December 31, 2024			September 30, 2024		June 30, 2024			March 31, 2024
Interest income	$	13,706		$	14,736		$	14,838	$	14,039		$	13,760
Interest expense		5,635			6,516			6,965		6,591			6,300
Net interest income		8,071			8,220			7,873		7,448			7,460
(Release of) provision for credit losses		(203	)		14			8		(109	)		(33	)
Net interest income after (release of) provision for credit losses		8,274			8,206			7,865		7,557			7,493
Noninterest income:
Service charges and fee income		684			619			628		761			612
Earnings on bank-owned life insurance		195			127			186		134			177
Mortgage servicing income		269			277			280		279			282
Fair value adjustment on mortgage servicing rights		(99	)		77			101		(116	)		(65	)
Net gain on sale of loans		49			53			40		74			90
Other income		—			7			—		30			—
Total noninterest income		1,098			1,160			1,235		1,162			1,096
Noninterest expense:
Salaries and benefits		4,595			3,920			4,469		4,658			4,543
Operations		1,365			1,329			1,540		1,569			1,457
Regulatory assessments		221			189			189		220			189
Occupancy		437			409			414		397			444
Data processing		1,293			1,232			1,067		910			1,017
Net (gain) loss on OREO and repossessed assets		3			(21	)		—		(17	)		6
Total noninterest expense		7,914			7,058			7,679		7,737			7,656
Income before provision for income taxes		1,458			2,308			1,421		982			933
Provision for income taxes		291			389			267		187			163
Net income	$	1,167		$	1,919		$	1,154	$	795		$	770

CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, unaudited)

	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
ASSETS
Cash and cash equivalents	$	131,494		$	43,641		$	148,930		$	135,111		$	137,977
Available-for-sale securities, at fair value		7,689			7,790			8,032			7,996			8,115
Held-to-maturity securities, at amortized cost		2,121			2,130			2,139			2,147			2,157
Loans held-for-sale		2,267			487			65			257			351
Loans held-for-portfolio		886,226			900,171			901,733			889,274			897,877
Allowance for credit losses – loans		(8,393	)		(8,499	)		(8,585	)		(8,493	)		(8,598	)
Total loans held-for-portfolio, net		877,833			891,672			893,148			880,781			889,279
Accrued interest receivable		3,540			3,471			3,705			3,413			3,617
Bank-owned life insurance, net		22,685			22,490			22,363			22,172			22,037
Other real estate owned (“OREO”) and other repossessed assets, net		41			—			115			115			690
Mortgage servicing rights, at fair value		4,688			4,769			4,665			4,540			4,612
Federal Home Loan Bank (“FHLB”) stock, at cost		1,734			1,730			2,405			2,406			2,406
Premises and equipment, net		4,591			4,697			4,807			4,906			6,685
Right-of-use assets		3,546			3,725			3,779			4,020			4,259
Other assets		6,957			7,031			6,777			6,995			4,500
TOTAL ASSETS	$	1,069,186		$	993,633		$	1,100,930		$	1,074,859		$	1,086,685
LIABILITIES
Interest-bearing deposits	$	783,660		$	705,267		$	800,480		$	781,854		$	788,217
Noninterest-bearing deposits		126,687			132,532			129,717			124,915			128,666
Total deposits		910,347			837,799			930,197			906,769			916,883
Borrowings		25,000			25,000			40,000			40,000			40,000
Accrued interest payable		586			765			908			760			719
Lease liabilities		3,828			4,013			4,079			4,328			4,576
Other liabilities		10,774			9,371			9,711			9,105			9,578
Advance payments from borrowers for taxes and insurance		2,450			1,260			2,047			812			2,209
Subordinated notes, net		11,770			11,759			11,749			11,738			11,728
TOTAL LIABILITIES		964,755			889,967			998,691			973,512			985,693
STOCKHOLDERS’ EQUITY:
Common stock		25			25			25			25			25
Additional paid-in capital		28,515			28,413			28,296			28,198			28,110
Retained earnings		76,952			76,272			74,840			74,173			73,907
Accumulated other comprehensive loss, net of tax		(1,061	)		(1,044	)		(922	)		(1,049	)		(1,050	)
TOTAL STOCKHOLDERS’ EQUITY		104,431			103,666			102,239			101,347			100,992
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,069,186		$	993,633		$	1,100,930		$	1,074,859		$	1,086,685

KEY FINANCIAL RATIOS
(unaudited)

	For the Quarter Ended
	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Annualized return on average assets	0.45	%	0.70	%	0.42	%	0.30	%	0.29	%
Annualized return on average equity	4.53	%	7.40	%	4.50	%	3.17	%	3.06	%
Annualized net interest margin⁽¹⁾	3.25	%	3.13	%	2.98	%	2.92	%	2.95	%
Annualized efficiency ratio⁽²⁾	86.31	%	75.25	%	84.31	%	89.86	%	89.48	%

(1)	Net interest income divided by average interest earning assets.
(2)	Noninterest expense divided by total revenue (net interest income and noninterest income).

PER COMMON SHARE DATA
(unaudited)

	At or For the Quarter Ended
	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Basic earnings per share	$	0.45	$	0.75	$	0.45	$	0.31	$	0.30
Diluted earnings per share	$	0.45	$	0.74	$	0.45	$	0.31	$	0.30
Weighted-average basic shares outstanding		2,554,265		2,547,210		2,544,233		2,540,538		2,539,213
Weighted-average diluted shares outstanding		2,578,609		2,578,771		2,569,368		2,559,015		2,556,958
Common shares outstanding at period-end		2,566,069		2,564,907		2,564,095		2,557,284		2,558,546
Book value per share	$	40.70	$	40.42	$	39.87	$	39.63	$	39.47

AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE RATE PAID
(Dollars in thousands, unaudited)

The following table presents, for the periods indicated, the total dollar amount of interest income from average interest-earning assets and the resultant yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates. Income and yields on tax-exempt obligations have not been computed on a tax equivalent basis. All average balances are daily average balances. Nonaccrual loans have been included in the table as loans carrying a zero yield for the period they have been on nonaccrual (dollars in thousands).

	Three Months Ended
	March 31, 2025							December 31, 2024							March 31, 2024
	Average Outstanding Balance			Interest Earned/Paid		Yield/Rate		Average Outstanding Balance			Interest Earned/Paid		Yield/Rate		Average Outstanding Balance			Interest Earned/Paid		Yield/Rate
Interest-Earning Assets:
Loans receivable	$	896,822		$	12,588	5.69	%	$	900,832		$	13,070	5.77	%	$	895,430		$	12,233	5.49	%
Interest-earning cash		95,999			1,010	4.27	%		130,412			1,534	4.68	%		107,361			1,416	5.30	%
Investments		12,924			108	3.39	%		13,263			132	3.96	%		14,038			111	3.18	%
Total interest-earning assets	$	1,005,745			13,706	5.53	%		1,044,507		$	14,736	5.61	%	$	1,016,829			13,760	5.44	%
Interest-Bearing Liabilities:
Savings and money market accounts	$	335,419			2,058	2.49	%	$	350,495			2,476	2.81	%	$	284,455			1,866	2.64	%
Demand and NOW accounts		140,905			108	0.31	%		144,470			128	0.35	%		159,762			141	0.35	%
Certificate accounts		289,960			3,039	4.25	%		301,293			3,413	4.51	%		315,495			3,696	4.71	%
Subordinated notes		11,766			168	5.79	%		11,756			168	5.69	%		11,724			168	5.76	%
Borrowings		25,000			262	4.25	%		30,546			331	4.31	%		40,000			429	4.31	%
Total interest-bearing liabilities	$	803,050			5,635	2.85	%	$	838,560			6,516	3.09	%	$	811,436			6,300	3.12	%
Net interest income/spread				$	8,071	2.68	%				$	8,220	2.52	%				$	7,460	2.32	%
Net interest margin						3.25	%						3.13	%						2.95	%

Ratio of interest-earning assets to interest-bearing liabilities		125	%						125	%						125	%
Noninterest-bearing deposits	$	126,215						$	130,476						$	132,438
Total deposits		892,499		$	5,205	2.37	%		926,734		$	6,017	2.58	%		892,150		$	5,703	2.57	%
Total funding ⁽¹⁾		929,265			5,635	2.46	%		969,036			6,516	2.68	%		943,874			6,300	2.68	%

(1)	Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.

LOANS
(Dollars in thousands, unaudited)

	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Real estate loans:
One-to-four family	$	262,457		$	269,684		$	271,702		$	268,488		$	279,213
Home equity		28,112			26,686			25,199			26,185			24,380
Commercial and multifamily		392,798			371,516			358,587			342,632			324,483
Construction and land		42,492			73,077			85,724			96,962			111,726
Total real estate loans		725,859			740,963			741,212			734,267			739,802
Consumer Loans:
Manufactured homes		42,448			41,128			40,371			38,953			37,583
Floating homes		86,626			86,411			86,155			81,622			84,237
Other consumer		18,224			17,720			18,266			18,422			18,847
Total consumer loans		147,298			145,259			144,792			138,997			140,667
Commercial business loans		14,690			15,605			17,481			17,860			19,075
Total loans		887,847			901,827			903,485			891,124			899,544
Less:
Premiums		688			718			736			754			808
Deferred fees, net		(2,309	)		(2,374	)		(2,488	)		(2,604	)		(2,475	)
Allowance for credit losses – loans		(8,393	)		(8,499	)		(8,585	)		(8,493	)		(8,598	)
Total loans held-for-portfolio, net	$	877,833		$	891,672		$	893,148		$	880,781		$	889,279

DEPOSITS
(Dollars in thousands, unaudited)

	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Noninterest-bearing demand	$	126,687	$	132,532	$	129,717	$	124,915	$	128,666
Interest-bearing demand		143,595		142,126		148,740		152,829		159,178
Savings		63,533		61,252		61,455		63,368		65,723
Money market		287,058		206,067		285,655		253,873		241,976
Certificates		289,474		295,822		304,630		311,784		321,340
Total deposits	$	910,347	$	837,799	$	930,197	$	906,769	$	916,883

CREDIT QUALITY DATA
(Dollars in thousands, unaudited)

	At or For the Quarter Ended
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Total nonperforming loans	$	9,653		$	7,491		$	8,489		$	8,909		$	9,053
OREO and other repossessed assets		41			—			115			115			690
Total nonperforming assets	$	9,694		$	7,491		$	8,604		$	9,024		$	9,743
Net charge-offs during the quarter	$	(21	)	$	(13	)	$	(14	)	$	(17	)	$	(56	)
Provision for (release of) credit losses during the quarter		(203	)		14			8			(109	)		(33	)
Allowance for credit losses – loans		8,393			8,499			8,585			8,493			8,598
Allowance for credit losses – loans to total loans		0.95	%		0.94	%		0.95	%		0.96	%		0.96	%
Allowance for credit losses – loans to total nonperforming loans		86.95	%		113.46	%		101.13	%		95.33	%		94.97	%
Nonperforming loans to total loans		1.09	%		0.83	%		0.94	%		1.00	%		1.01	%
Nonperforming assets to total assets		0.91	%		0.75	%		0.78	%		0.84	%		0.90	%

OTHER STATISTICS
(Dollars in thousands, unaudited)

	At or For the Quarter Ended
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024

Total loans to total deposits		97.53	%		107.64	%		97.13	%		98.27	%		98.11	%
Noninterest-bearing deposits to total deposits		13.92	%		15.82	%		13.95	%		13.78	%		14.03	%

Average total assets for the quarter	$	1,051,135		$	1,089,067		$	1,095,404		$	1,070,579		$	1,062,036
Average total equity for the quarter	$	104,543		$	103,181		$	102,059		$	100,961		$	101,292

Contact

Financial:
Wes Ochs
Executive Vice President/CFO
(206) 436-8587

Media:
Laurie Stewart
President/CEO
(206) 436-1495

The MIL Network –

April 30, 2025

MIL-OSI USA: Mfume Joins Elfreth, Maryland House Colleagues to Press for Answers on Behalf of International Students Attending Maryland Universities
Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

WASHINGTON, D.C. – Today, Congresswoman Sarah Elfreth (MD-03) led a letter with Representatives Kweisi Mfume (MD-07), Steny Hoyer (MD-05), Jamie Raskin (MD-08), Glenn Ivey (MD-04), April McClain Delaney (MD-06), and Johnny Olszewski (MD-02) to Secretary of State Marco Rubio and Secretary of Homeland Security Kristi Noem on behalf of Maryland university international students who have been arrested or had their student visas revoked by the Trump Administration. To date, over 1,700 visas have been revoked and 4,736 students have had their status terminated across the country by this Administration.

“We write with profound concern that the Department of State revoked the status of student visas in the United States and Immigration and Customs Enforcement (ICE) arrested a number of students without any transparency or explanation of why they are being targeted,” the lawmakers wrote.

“Students have been picked up in the street – in some cases by plain clothed immigration agents in unmarked cars – and being held in detention facilities with no warning and limited information as to why they are being deported. These students should be entitled to the fundamental rights of due process and freedom of speech – just as our Framers intended,” the lawmakers continued. “The Administration’s egregious policies have already had serious impacts at Maryland universities, including Johns Hopkins University, University of Maryland College Park, and University of Maryland, Baltimore County. These students are from different countries, in different programs, and have been in the U.S. for different lengths of time, yet are suffering the consequences of the indiscriminate policies of this Administration without explanation.”

In their letter, the lawmakers press for information on the following:
- The number of student visas revoked from Maryland Universities
- If the Department of State plans to reissue these visas
- How many Maryland students have had their legal status terminated in the Student and Exchange Visitor Information System (SEVIS) by ICE, including: the specific legal status terminated and the legal authority for termination
- A timeline for SEVIS record termination framework
- The criteria the Department of State and ICE use to identify students for visa revocation and termination of legal status in SEVIS
Beyond the international students’ fundamental rights of due process and freedom of speech, international students enrolled in English language programs at U.S. colleges and universities contributed $371.3 million and supported 2,691 jobs to the U.S. economy during the 2023-2024 academic year.

Congresswoman Elfreth, a former Maryland college professor, issued an original statement on the rights of international students at the beginning of April, which is available HERE.

The full text of the letter is available HERE.

###

MIL OSI USA News –
April 30, 2025
MIL-OSI USA: 100 Days, 100 Stories

Source: United States House of Representatives – Representative Mike Johnson (LA-04)

WASHINGTON — Today, Speaker Johnson released a list of 100 American citizens who have felt the benefits from President Trump’s historic first 100 days in office. Speaker Johnson highlighted citizens who were unjustly detained abroad, business owners who will benefit from new apprenticeship opportunities, and families devastated by previous open borders policies, among many others.

Click here to read the full list

“President Donald J. Trump entered the White House with the most decisive mandate in modern history. In just 100 days, he’s done more for America than Joe Biden managed in four years,” Speaker Johnson said. “The American people can feel the tangible impact of President Trump’s swift and decisive action. From coast to coast, North to South, the American First agenda is helping Americans from across our great country.

“Republicans in Congress are proud to stand with the President as he secures our border, restores accountability in government, fights for common sense, and defends the liberty and prosperity of generations of Americans to come,” Speaker Johnson continued. “Today, as we mark 100 historic days, we celebrate the many ways President Trump has delivered for the American people.”

Since his inauguration on January 20th, President Trump has taken bold action to secure the border, drive down inflation, restore American strength on the world stage, clean up our communities, secure trillions of dollars in new investments and jobs, and return common sense to Washington. These 100 American stories illustrate that.

Read 20 stories below, and the full list here.

Alexis Nungaray, Angel Mother – Alexis Nungaray is the mother of Jocelyn Nungaray, a 12-year-old girl who was tragically murdered by illegal aliens in June of 2024. Jocelyn’s life was tragically cut short because of the Biden Administration’s failure to close our borders and protect American citizens from dangerous illegal aliens. On March 5, 2025, President Trump signed an executive order honoring her life by renaming Anahuac National Wildlife Refuge to Jocelyn Nungaray Wildlife Refuge in Anahuac, Texas. Since Jocelyn’s murder, her mother Alexis has been advocating alongside the Trump Administration and Senator Ted Cruz for stronger immigration laws.

Marianna Montoya, Florida Resident – During President Trump’s first 100 days, Marianna was able to open up her very first Roth IRA and begin contributing on a monthly basis. President Trump’s work to reverse the devastating consequences of Bidenomics has given her hope that she and her husband will be able to retire peacefully.

Frank Windsor, Rinnai America President – In late 2024, the Biden Administration issued a rule that effectively banned an entire niche of American manufacturing: non-condensing tankless water heaters. The rule specifically targeted Rinnai America Corporation, the only U.S. facility producing these water heaters. Thanks to President Trump’s leadership, the House passed a Congressional Review Act resolution to overturn the rule, keeping Rinnai’s doors open and protecting nearly 300 American jobs.

Sarah Taylor, Iowa Parent – Sarah and her husband, Dan, both attended private Catholic elementary schools and knew they wanted the same faith-based education for their daughters, Hannah and Millie. Thanks to expanding educational freedom and school choice, the Taylors were empowered to choose the school that best fit their family’s values. For the Taylor family, school choice has meant more than access. It’s meant opportunity. Their story is one of many that show the power of giving parents the freedom to choose what’s best for their children.

Kelly Wilson, Small Business Owner – Kelly Wilson’s family has owned and operated a small business in Colorado for 80 years, but after mass flows of illegal aliens began arriving in Denver under the Biden Administration, her family discussed moving to another state. In the face of budget cuts to Denver’s police force and sanctuary city policies that have failed Denver families, Kelly began speaking out for her community. Since day one, the Trump Administration has made cracking down on sanctuary cities and states a top priority. Today, communities like Kelly’s are safer, thanks to President Trump’s work to restore the rule of law.

Jim Chilton, Rancher – The Chilton Ranch has been operated within the Chilton family for generations, a family legacy that Jim and Sue Chilton have preserved mere miles away from the Southern Border. However, under the Biden Administration, they were forced to shoulder the consequences of President Biden’s border crisis. During April of 2024 alone, the Chiltons experienced 5,640 immigrant encounters on their ranch. The last time they checked with the Border Patrol, in April of this year, there were zero crossers over the course of three weeks. Thanks to President Trump’s work to reverse the Biden administration’s radical open-border policies, the Chilton family’s beloved ranch and livelihood are no longer under threat.

Ben Paulding, CPA – Ben hosts South Dakota’s first federally subsidized CPA Apprenticeship Program. After navigating months of red tape under the Biden Administration, he can finally onboard his first interns. Thankfully, President Trump has ended burdensome mandates on programs like Ben’s, enabling him to refocus his attention on merit-based, equal opportunity hiring without the DEI red tape.

George Glezmann, Former Hostage – George Glezmann, a Georgia native and Delta Airlines mechanic, was arrested by the Taliban in 2022 during a planned tourist visit. Despite no formal charges being filed, Glezmann was held for over 2 years in an Afghanistan prison. On March 20, 2025, he was released as a gesture of “goodwill” by the Taliban following trilateral negotiations between Qatar, the U.S., and the Taliban. Upon returning to the U.S., he said, “I feel like I’m born again, I’m in debt to President Trump. Thank God he’s in the White House and thank God he got me out.”

Michelle Root, Angel Mother – Michelle Root is the mother of Sarah Root, a 21-year-old Iowan who was killed by an illegal alien drunk driving in 2016. Instead of answering for his crimes, the illegal alien posted bail, was released from jail, and was never seen again. Fortunately, this criminal was found in Honduras and the Trump Administration worked with Honduran authorities to extradite him to the United States to face justice. President Trump also signed the Laken Riley Act, which included Sarah’s Law – introduced by Congressman Randy Feenstra from Iowa – to ensure that any illegal alien who harms or kills an American citizen is swiftly detained and prosecuted to the fullest extent of the law. The Root Family is grateful to President Trump and Congressman Feenstra for honoring their precious daughter’s memory.

Marc Fogel, Schoolteacher/Former Hostage – Marc Fogel, an American schoolteacher, was wrongfully detained by Russian authorities in 2021 after being arrested on drug charges related to medical marijuana. Despite having a valid prescription in the U.S., he was sentenced to 14 years in a Russian prison. However, on February 11, 2025, Fogel was released and returned to the United States through a diplomatic deal negotiated by President Trump. He was warmly greeted by the President upon his arrival back to the United States and expressed his gratitude, saying, “I feel like the luckiest man alive.”

Tony Campbell, East KY Power Cooperative CEO – Tony Campbell serves as the CEO and President of East Kentucky Power Cooperative. He and his colleagues have faced significant challenges under burdensome regulations that targeted the coal industry—an industry that has powered American homes and cities for generations. Through executive action, President Trump strengthened the reliability and affordability of American energy, safeguarded American jobs, and preserved critical coal plants, delivering on his promise to create jobs and uphold America’s energy independence.

Joseph Knowles, Detroit Autoworker – Joseph Knowles is a Detroit autoworker for Stellantis who was laid off during the Biden Administration and later reinstated after President Trump’s election victory. After attending President Trump’s Joint Address to Congress, Knowles declared he had left the Democratic Party for good. “I got very good hope for the Republican Party,” Knowles said, “More and more people are seeing the true colors of the Democrats.”

Lawrence Rosen, Cra-Z-Art Founder – Lawrence Rosen is the owner of Cra-Z-Art, the largest toy maker in the United States. Since Liberation Day, Lawrence has seen the benefits of President Trump’s tariffs firsthand on domestic manufacturing. Because of President Trump’s decisive action in the first 100 days, Rosen is expanding their domestic production by 50% and investing millions of dollars into factories across the country.

Elliston Berry, Texas High School Student – Elliston Berry was only 14-years-old when one of her classmates took an innocent selfie of her and ran it through AI to make a deep-fake pornographic image, which was later circulated throughout her school. Her painful experience motivated her to become an advocate against deepfake pornography, with her efforts leading to legislative action by Senator Ted Cruz. The “Take it Down Act”, which First Lady Melania Trump has championed, protects victims, enhances protections for users, and introduces accountability for AI platforms passed the House in April.

Kirk Davis, Bob Davis Electric CEO – Kirk Davis, owner of Bob Davis Electric, is one of many business leaders benefiting from President Trump’s action to tackle America’s workforce challenges. Thanks to the President’s Executive Order on apprenticeships, Kirk has been able to recruit, train, and retrain the skilled electricians needed to meet rising power demands and grow his business.

Dakota Meyer, U.S. Marine – President Trump’s Department of Defense has championed a warrior culture in America’s armed forces that has generated massive results for military recruiting. In April, Secretary Hegseth announced the U.S. Army had surpassed its 2025 reenlistment goal six months early. Dakota Meyer, a Marine Corps veteran and Medal of Honor recipient, is just one of the many brave Americans who have reenlisted, deciding to reenter the Army after a 15-year hiatus. “I’m damn proud of the men and women who are standing in uniform,” said Meyer, “and I’m so proud I get to be one of them again.”

Steven McCain, Sheriff – In Grant Parish, illegal aliens are using drones to drop off drugs and other paraphernalia at a large federal prison. It’s been a significant problem for the prison, but now that President Trump has returned to the White House, the situation has changed. Sheriff McCain has noticed a sharp increase in cooperation from ICE, the United States Attorney’s Office, and other local officials. Working together, law enforcement from all levels will be able to crack down on these drones.

Brian Riley, CEO of Guardian Bikes – Citing his support for President Trump’s tariffs, Brian announced a $19 million investment to move Guardian’s bike production out of China and into Seymour, Indiana.

Dino Mavrookas, CEO of Saronic – President Trump has called for the restoration of America’s maritime dominance, and Dino Mavrookas, CEO of the defense startup Saronic, has been a leader in answering this call. To help build the next-generation of autonomous vessels, Saronic acquired Gulf Craft, a Louisiana-based shipbuilder. By preserving Gulf Craft’s skilled workforce, creating hundreds of new, good-paying jobs, and investing over $2.5 billion to develop Port Alpha, Saronic is strengthening our economy, rebuilding America’s maritime strength, and supporting our national defense.

Gary Hamrick, Senior Pastor – Senior Pastor Gary Hamrick became the target of anti-Christian bias when he and his church were charged by the IRS for so-called Johnson Amendment violations. Under President Trump, the Department of Justice has established a task force to eradicate anti-Christian bias in the federal government and safeguard the religious liberty of all Americans.

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MIL OSI USA News –

April 30, 2025
MIL-OSI: Hampton Financial Corporation Announces 2nd Quarter Results

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, April 29, 2025 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Company”, TSXV: HFC) today announced its financial results for the 2^nd quarter ended February 28^th, 2025.

Second Quarter ended February 28^th, 2025.

IFRS results highlights:

– Q2 Revenue of $2,854,000; an increase of 53% year-over-year
–  Q2 Net Loss of $(1,312,000) or $(0.02) per share;

Fiscal results (IFRS results adjusted for non-cash Items) highlights:

–  Q2 Adjusted Net Loss of $(421,000) or $(0.01) per share;
–  Q2 EBITDA of $(690,000) vs $(441,000) in the comparative quarter last year

Summary of Corporate Developments:

Our 2^nd quarter results reflect some improvement which is being felt across across the Capital Markets industry. Corporate finance transactions have improved slightly over the first half of our fiscal year but are still well below 2023 levels. While 2025 is showing some signs of improvement, the year ahead for our core business remains unclear. That said we intend to move ahead with a number of initiatives to further expand our business portfolio, while growing our existing Wealth Management, Commercial Lending and Capital Markets businesses.

“The second quarter results continue to demonstrate the industry-wide challenges faced during the fall of 2024, but we are beginning to see some selective improvements. Capital Markets activities have started to improve as interest rates have stabilized, so we are hopeful for a stronger second half of the year. We remain optimistic for the balance of the fiscal year,” said Hampton Executive Chairman & CEO Peter Deeb.

Copies of Hampton’s unaudited interim financial statements and its Management’s Discussion & Analysis for the three and six months ended February 28, 2025, can be accessed on SEDAR+ at www.sedar.com.

Supplementary to the Company’s February 21, 2025 press release announcing the reinvestment of debenture redemption proceeds, the purchase by Peter Deeb of the 255,050 subordinate voting shares of the Company constitutes a ‘related party transaction’ as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders In Special Transactions (“MI 61-101”) but is exempt from the shareholder approval and formal valuation requirements under MI 61-101 as the fair market value of the securities issued was less than 25% of the Company’s market capitalization.

About Hampton Financial Corporation

Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments.

Through its wholly-owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by CIRO and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company, through HSL, provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad and HSL’s Corporate Finance Group provides early stage, growing companies the capital, they need to create value for investors. HSL continues to develop its Wealth Management, Advisory Team and Principal-Agent programs which offers to the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional freedom, financial support, and tax effectiveness as they build and manage their professional practice.

Through its wholly-owned subsidiary, Oxygen Working Capital (“OWC”) the company offers factoring and other commercial financing services to clients across Canada.

The Company is exploring opportunities to diversify its sources of revenue by way of strategic investments in both complimentary business and non-core sectors that can leverage the expertise of its Board and the diverse experience of its management team.

For more information, please contact:

Olga Juravlev
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701

Or

Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
(416) 862-8651

The TSXV has in no way approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.

Forward-Looking Statements

This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “should”, “hopeful”, “recovery”, “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project” or similar words, including negatives thereof, suggesting future outcomes.

Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond the Company’s ability to predict or control which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The MIL Network –

April 30, 2025
MIL-OSI United Kingdom: Councils to seize and crush fly-tipping vehicles to clean up Britain
Source: United Kingdom – Executive Government & Departments

Press release

Councils to seize and crush fly-tipping vehicles to clean up Britain

Waste criminals, fly-tippers and cowboy waste operators to have vehicles seized and crushed
Secretary of State Steve Reed visiting A1 Metal Recycling Centre in Wokingham to see a vehicle being crushed

A new crackdown on cowboy waste operators will tackle soaring fly-tipping and clean up Britain’s streets, lanes and rural areas, the Government has announced today (Tuesday 29 April).

Councils will work with the police to identify, seize and crush vehicles of waste criminals. Drones and mobile CCTV cameras will be deployed to identify cars and vans belonging to fly-tippers so they can be destroyed.

Ministers have launched a rapid review to slash red tape blocking councils from seizing and crushing vehicles. Councils currently have to bear the significant cost of seizing and storing vehicles but under new plans, being consider by Ministers, fly-tippers will cover this cost, saving councils and taxpayers money.

In addition, waste cowboys will now face up to five years in prison for operating illegally. Any criminals caught transporting and dealing with waste illegally will now face up to five years in prison under new legislation.

Secretary of State for the Environment, Food and Rural Affairs, Steve Reed said:

Waste criminals and fly-tippers who blight our towns and villages have gone unpunished for too long.

That ends today. The Government is calling time on fly-tipping. I will not stand by while this avalanche of rubbish buries our communities.

Under the Plan for Change, this Government will seize and crush fly-tippers vans’ to clean up Britain’s streets.

These measures support the Government’s Plan for Change and will help deliver its key mission of Safer Streets for the public, restoring communities’ faith in efforts to combat anti-social behaviour.

Waste crime is trashing communities across the country. Fly-tipping has skyrocketed by a fifth whilst the number of prosecutions has fallen by the same amount since 2018/19. The failure to punish these criminals has left our high streets, roads and countryside buried under an avalanche of rubbish.

The Environment Agency will also carry out identity and criminal record checks on operators in the sector so there is nowhere to hide for rogue firms.

It will be handed more resources as they will now be able to fund the cost of policing the industry through permits, boosting their powers and cutting costs for taxpayers. The reforms will also give them more power to revoke permits, issue enforcement notices and hefty fines.

Philip Duffy, Environment Agency Chief Executive, said:

Waste crime is toxic. Criminals’ thoughtless actions harm people, places, and the economy, blighting our communities and disrupting legitimate businesses.

At the Environment Agency, we’re determined to bring these criminals to justice through tough enforcement action and prosecutions. That’s why we support the Government’s crackdown on waste criminals, which will ensure we have the right powers to shut rogue operators out of the waste industry.

Executive Director of the Environmental Services Association (ESA), Jacob Hayler, said:

For too long, criminality has run rampant across the waste sector. These illegal activities threaten the environment; damage communities and undermine legitimate recycling and waste operations. ESA has long campaigned for tighter rules, tougher enforcement and harsher penalties to deter criminals, so we very much welcome today’s reforms and hope that they are put to good use driving criminals out of our sector.

In particular, the proposed reforms to the carriers, brokers, dealers and exemption regimes, coupled with strong and effective enforcement from the regulators, could go a long way to help tackle the scourge of waste crime, with increased scrutiny and accountability making it much harder for criminals to operate in our sector.

Councillor Muhammed Butt, Leader of Brent Council, said:

Our residents have had enough of the dumpers who pollute their neighbourhoods with rubbish. These new powers will be a welcome addition to our arsenal, reinforcing our zero-tolerance stance on fly-tipping. We’ve already witnessed the positive impact of our focused efforts, and I am determined to use every tool at our disposal, including seizing vehicles, to reclaim our streets.

The Government is making available £69 billion to council budgets across England – a 6.8% cash terms increase – and bringing forward the first multi-year funding settlement in a decade, to help fund key responsibilities like tackling fly-tipping

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Published 29 April 2025
MIL OSI United Kingdom –
April 30, 2025
MIL-OSI: Urgently Announces First Quarter 2025 Earnings Release Date and Conference Call; Participation in Upcoming Investor Conferences
Source: GlobeNewswire (MIL-OSI)

VIENNA, Va., April 29, 2025 (GLOBE NEWSWIRE) — Urgent.ly, Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today announced the date for the release of its first quarter 2025 financial results and its participation in upcoming investor conferences.

First Quarter 2025 Earnings

Urgently will host a conference call on Tuesday, May 13, 2025, at 5:00 p.m. Eastern Time to discuss its financial results for the first quarter ended March 31, 2025. Financial results will be issued in a press release prior to the call.

Those wishing to participate via webcast should access the call through Urgently’s Investor Relations website at https://investors.geturgently.com. Those wishing to participate via telephone may dial in at 1-877-317-6789 (USA) or 1-412-317-6789 (International). The replay will be available via webcast through Urgently’s Investor Relations website.

Upcoming Investor Conferences

During the first quarter of 2025, executive management will participate in the following upcoming investor conferences:
- The Sidoti Micro-Cap Virtual Investor Conference on May 21, 2025. Matt Booth, Chief Executive Officer of Urgently, and Tim Huffmyer, Chief Financial Officer of Urgently, are scheduled to present at 10:45 a.m. Eastern Time and will host one-on-one and small group investor meetings throughout the day.
- The Jefferies Automotive Aftermarket Private and Public Conference at the InterContinental New York Barclay in New York, New York on May 22, 2025. Matt Booth and Harrison Russell, Senior Vice President of Partnerships of Urgently, will host one-on-one and small group investor meetings throughout the day.
A live webcast and archived replay of conference presentation will be available on the Urgently Investor Relations website at https://investors.geturgently.com/.

About Urgently

Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.

For media and investment inquiries, please contact:
Press: media@geturgently.com
Investor Relations: investorrelations@geturgently.com

The MIL Network –
April 30, 2025
MIL-OSI USA: The Future is Bright: Congressman Bean Applauds Trump’s First 100 Days

Source: United States House of Representatives – Representative Aaron Bean Florida (4th District)

WASHINGTON—As we mark 100 Days of President Donald Trump’s second term, U.S. Congressman Aaron Bean (FL-04) released the following statement highlighting the progress this administration and House Republicans have made to advance the America First agenda.

“Since day one, President Trump has understood the assignment: usher in the Golden Age of America. Working together at historic speed, we are securing our border, slashing wasteful spending, reviving our economy, and defending our American values. Our promises to restore hope, prosperity, safety, and peace for the American people are promises we will keep.”

###

MIL OSI USA News –

April 30, 2025
MIL-OSI USA: Jayapal, Sanders, Dingell, Hundreds of Health Care Workers Introduce Medicare for All

Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

WASHINGTON – U.S. Representative Pramila Jayapal (WA-07), U.S. Senator Bernie Sanders (VT), and U.S. Representative Debbie Dingell (MI-06) today introduced the Medicare for All Act with hundreds of nurses, health care providers and workers from around the country at a press conference in front of the Capitol.

In America today, despite spending twice as much per person on health care as other wealthy nations, more than 85 million Americans are uninsured or underinsured, one out of every four Americans cannot afford their prescription drugs, over half a million people go bankrupt due to medically-related debt, and more than 60,000 die because they cannot afford to go to a doctor.

“It is a travesty when 85 million people are uninsured or underinsured and millions more are drowning in medical debt in the richest nation on Earth,” said Jayapal. “We don’t suffer from scarcity in America, we suffer from greed. That’s most clear in our broken health care system, which is why we need Medicare for All. People deserve and want comprehensive health care that covers mental health, long-term care, reproductive care, dental, vision and hearing, all without copays, private insurance premiums, sky-high deductibles or other hidden fees. Health care is a human right, that is exactly why it’s time to pass Medicare for All.”

“The American people understand, as I do, that health care is a human right, not a privilege and that we must end the international embarrassment of the United States being the only major country on earth that does not guarantee health care to all of its citizens,” said Sanders. “It is not acceptable to me, nor to the American people, that over 85 million people today are either uninsured or underinsured. Today, there are millions of people who would like to go to a doctor but cannot afford to do so. This is an outrage. In America, your health and your longevity should not be dependent on your wealth. Health care is a human right that all Americans, regardless of income, are entitled to and they deserve the best health care that our country can provide.”

“Every American has the right to health care, period. If you’re sick, you should be able to go to the doctor without being worried about the cost of treatment or prescription medicine. Too many families must decide between putting food on the table and getting medical care that they desperately need,” said Dingell. “A health care system that ties coverage to employment will always leave patients vulnerable. It’s flat-out wrong and Medicare for All would put a stop to it. We’ve been fighting this fight since the 1940s, when my father-in-law helped author the first universal health care bill. It’s time to get this done.”

Under this legislation, Medicare would provide comprehensive health care to every American with no premiums, no co-payments and no deductibles. It would also expand Medicare to include dental, hearing, and vision care, and it would give every American the freedom to choose their doctors without endless paperwork or fighting their insurance company. The Congressional Budget Office has estimated that Medicare for All would save our health care system $650 billion a year. Further, researchers at Yale University have estimated that Medicare for All would save 68,000 lives a year.

This legislation would also create a health care system that finally puts people over profits. In fact, since 2001, the top health care companies in America spent 95 percent of their profits, $2.6 trillion, not to make Americans healthy but to make their CEOs and stockholders obscenely rich. While nearly one out of four Americans cannot afford the life-saving medicine their doctors prescribe, ten top pharma companies made $102 billion in profits in 2024. Meanwhile, the CEOs of just 4 prescription drug companies – Pfizer, Johnson & Johnson, Eli Lilly, and Merck – together made over $100 million last year.

“Nurses see the failure of our country’s profit-driven health care system every time we clock in to work,” said Nancy Hagans, President of National Nurses United. “In the richest country on earth, nobody should be forced to choose between taking their medications and putting food on the table. Yet countless families are pushed to the breaking point while greedy corporations charge astronomical, ludicrous fees for care that our patients have every right to receive. Nurses are fighting for a future in which our patients’ health is put first always and that’s why we are proud to continue our support for Medicare for All. When we guarantee health care for all, corporations and billionaires will no longer be able to deny anyone the care that they need.”

“We are long overdue for a universal health care system that guarantees care for all — free of copays, deductibles, and job-based coverage restrictions,” said Dr. Diljeet K. Singh, M.D., Dr.P.H., and President of Physicians for a National Health Program. “With the passage of the Medicare for All Act, physicians can focus on healing patients, not battling insurers over denials and delays. Patients will finally be able to seek care without the constant fear of crushing medical bills. Physicians for a National Health Program proudly stands with our legislators in the fight to make excellent health care a reality for everyone in America.”

“As Donald Trump, Robert Kennedy and Congressional Republicans rush to strip health care from millions of Americans, we know this: We must not only block their cruel cuts but move America to a system that provides health care to everyone as a matter of right,” said Robert Weissman, co-president of Public Citizen. “America spends much more than other wealthy countries on health care only to have the worst health outcomes. The system works for health insurers, Big Pharma, hospital chains and private equity firms – but no one else. Medicare for All would ensure everyone in America can get the care they need throughout their lives. It is the realistic, humane, just and efficient reform we need.”

“Postal workers know the value of affordable, universal services, grounded in a commitment to putting people over profits. That’s the type of service we are committed to provide communities across the country, day in and day out,” said Mark Dimondstein, President of American Postal Workers Union. “For too long, greedy corporations and their Wall Street investors have been able to deny the people of the country the quality, affordable, universal health care working people deserve. Medicare for All, health care as a human right, will make us all healthier and financially better off. A health care system that works for working people, not the profits of the insurance companies, is long overdue. It’s time for Medicare for All.”

“Health care should be a human right. But every time we negotiate with a boss for the right to see a doctor, they nickel and dime us until people have to choose between their health and putting food on the table,” said Shawn Fain, President of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW). “We’re sick of having to go on strike just to have decent health care. We’re sick of corporate America asking us to give up raises, retirement security, or work-life balance at the bargaining table so working-class people can avoid medical bankruptcy. Our current health care system is a con job that only works for the billionaire class. Medicare for All is common sense, and it’s what the working class needs. The UAW is proud to support this bill.”

“If you want to renew the public’s faith in our political system, pass the Medicare for All Act of 2025,” said Alan Minsky, Executive Director, Progressive Democrats of America. “This one piece of legislation will instantly end the era, which has lasted far too long, when profits and wealth accumulation are more important than human life, including yours. MFA will return the general welfare, and the well-being of every individual, to the heart of our social contract. That will renew faith in America.”

“Health care is a right, not a privilege. The reintroduction of the Medicare for All Act is a crucial step toward ending a system that profits from people’s pain,” said Analilia Mejia and DaMareo Cooper, Co-Executive Directors of Popular Democracy. “Too many Americans are forced to choose between paying their rent and paying for life-saving medication, while corporations rake in billions. Medicare for All isn’t just a policy—it’s the lifeline working families desperately need. Our communities deserve a health care system that prioritizes people over profits. We will fight until we win the health care we deserve.”

“Health care is a human right and a basic need. Yet instead of getting health care, Americans get delays, denials, and bills they cannot afford. Today, predatory insurance CEOs are poised to reap the windfall from the tax scam giveaways earmarked for billionaires and corporations. The oligarchs that put Donald Trump and Dr. Oz in power want everything we have. We get sicker, make impossible choices, and go broke. They boost the stock prices of corporations – like UnitedHealth – that profit off our pain, and buy more mansions and yachts. We can put an end to those warped priorities through Medicare for All,” said Sulma Arias, executive director of People’s Action Institute. “Working people have made this the wealthiest nation in the history of the world, and there is more than enough if we don’t let the corporate crooks and billionaires steal it. So it’s time to choose: Our health care or their greed?”

The legislation has an additional 102 cosponsors in the House: Alma Adams (NC-12), Yassamin Ansari (AZ-03), Becca Balint (VT-AL), Nanette Diaz Barragán (CA-44), Wesley Bell (MO-01), Donald S. Beyer Jr. (VA-08), Suzanne Bonamici (OR-01), Brendan Boyle (PA-02), Shontel Brown (OH-11), Salud Carbajal (CA-24), André Carson (IN-7), Troy Carter (LA-02), Greg Casar (TX-35), Sheila Cherfilus-McCormick (FL-20), Judy Chu (CA-28), Yvette Clarke (NY-09), Emanuel Cleaver, II (MO-05), Steve Cohen (TN-09), Jasmine Crockett (TX-30), Danny K. Davis (IL-07), Diana DeGette (CO-01), Chris Deluzio (PA-17), Mark DeSaulnier (CA-10), Maxine Dexter (OR-03), Lloyd Doggett (TX-37), Veronica Escobar (TX-16), Adriano Espaillat (NY-13), Valerie Foushee (NC-04), Lois Frankel (FL-22), Laura Friedman (CA-30), Maxwell Frost (FL-10), John Garamendi (CA-08), Robert Garcia (CA-42), Jesús “Chuy” García (IL-04), Dan Goldman (NY-10), Jimmy Gomez (CA-34), Al Green (TX-09), Josh Harder (CA-09), Jahana Hayes (CT-05), Val Hoyle (OR-04), Jared Huffman (CA-02), Jonathan Jackson (IL-01), Sara Jacobs (CA-51), Henry C. “Hank” Johnson, Jr. (GA-04), Sydney Kamlager-Dove (CA-37), William Keating (MA-09), Robin Kelly (IL-02), Tim Kennedy (NY-26), Ro Khanna (CA-17), Summer Lee (PA-12), Teresa Leger Fernandez (NM-03), Mike Levin (CA-49), Ted W. Lieu (CA-36), Zoe Lofgren (CA-18), Betty McCollum (MN-04), Morgan McGarvey (KY-03), James P. McGovern (MA-02), LaMonica McIver (NJ-10), Gregory Meeks (NY-05), Grace Meng (NY-06), Kweisi Mfume (MD-07), Dave Min (CA-47), Kevin Mullin (CA-15), Jerrold Nadler (NY-12), Joe Neguse (CO-02), Eleanor Holmes Norton (DC-AL), Alexandria Ocasio-Cortez (NY-14), Ilhan Omar (MN-05), Frank Pallone (NJ-06), Jimmy Panetta (CA-19), Chellie Pingree (ME-01), Mark Pocan (WI-02), Ayanna Pressley (MA-07), Mike Quigley (IL-05), Delia Ramirez (IL-03), Emily Randall (WA-06), Jamie Raskin (MD-08), Luz Rivas (CA-29), Andrea Salinas (OR-06), Linda T. Sánchez (CA-38), Jan Schakowsky (IL-09), Robert C. “Bobby” Scott (VA-03), Brad Sherman (CA-32), Lateefah Simon (CA-12), Adam Smith (WA-09), Melanie Stansbury (NM-01), Eric Swalwell (CA-14), Mark Takano (CA-39), Shri Thanedar (MI-13), Bennie G. Thompson (MS-02), Mike Thompson (CA-04), Dina Titus (NV-01), Rashida Tlaib (MI-12), Jill Tokuda (HI-02), Paul Tonko (NY-20), Lori Trahan (MA-03), Juan Vargas (CA-52), Nydia Velázquez (NY-07), Maxine Waters (CA-43), Bonnie Watson Coleman (NJ-12), Nikema Williams (GA-05), and Frederica S. Wilson (FL-24).

The legislation also has an additional 15 cosponsors in the Senate: Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Alex Padilla (D-Calif.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.) and Sheldon Whitehouse (D-R.I.).

It is also endorsed by dozens of organizations, which can be found here.

Issues: Health Care

MIL OSI USA News –

April 30, 2025
MIL-OSI Security: Former President of Ypsilanti Steelworkers Union Sentenced for Stealing $58,000 in Union Funds

Source: Office of United States Attorneys

DETROIT – Dilanjan Miller was sentenced today to six months in federal prison after pleading guilty to bank fraud, Acting United States Attorney Julie A. Beck announced.

Joining Beck in the announcement is Thomas Murray, District Director of the Detroit-Milwaukee District Office of the Department of Labor-Office of Labor-Management Standards.

Miller, age 38, was sentenced after pleading guilty before the Honorable Laurie Michelson to bank fraud. In addition to his term of imprisonment, Judge Michelson ordered Miller to pay restitution to the union.

According to the facts alleged in the information and further developed at the plea hearing, USW Local 2513 represented machine operators, inspectors, stock chasers, and rackers at Marsh Plating in Ypsilanti. Miller was elected President of Local 2513 in April 2018. Miller also assumed all financial duties of Local 2513 as acting Financial Secretary and Treasurer. While President, Acting Financial Secretary, and Acting Treasurer of the union, Miller embezzled approximately $47,347 of union funds in the custody and control of the Bank of Ann Arbor by issuing approximately 38 unauthorized checks to himself and forging the signature of the second signatory on 20 of those checks; issuing approximately 4 unauthorized checks made payable to a family member; and making approximately 2 unauthorized cash withdrawals from the union’s bank account.

Miller also used the union’s Bank of Ann Arbor debit card as his own personal debit card. He made at least 184 unauthorized personal purchases, totaling approximately $11,259. His purchases with the union’s debit card included flights, hotel rooms, rental cars, and retail purchases. For example, Miller used the debit card to pay for five flights to Florida, Las Vegas, and Atlanta and for rental cars in Florida and Atlanta. Miller also used the debit card at a jewelry store and several footwear shops.

Acting U.S. Attorney Beck commended the work of the Department of Labor in conducting this criminal investigation of a corrupt union officer and said, “Union officials are expected to serve with integrity. This prosecution demonstrates that we will not tolerate union officers who abuse their authority and line their own pockets at the expense of the union’s membership. We will continue to work with our law enforcement partners to root out corruption and fraud involving unions.”

“Dilanjan Miller betrayed the trust of his fellow union members and failed in his fiduciary duties when he stole over $58,000 from Steelworkers Local 2513 for his personal benefit through multiple embezzlement schemes,” said U.S. Department of Labor’s Office of Labor-Management Standards District Director Thomas Murray. “Today’s sentencing leaves no question as to the department’s commitment to seek justice when anyone puts personal financial gain ahead of the best interests of their fellow union members.”

The investigation of this case was conducted by the Department of Labor Office of Labor-Management Standards. It was prosecuted by Assistant U.S. Attorney Sarah Resnick Cohen.

MIL Security OSI –

April 30, 2025
MIL-OSI: Best Sugar Daddy Websites to Meet Sugar Daddies and Babies in 2025
Source: GlobeNewswire (MIL-OSI)

Las Vegas, Nevada, April 29, 2025 (GLOBE NEWSWIRE) —

As sugar dating becomes increasingly mainstream, finding a trustworthy and user-friendly sugar daddy website is essential for anyone looking to explore mutually beneficial relationships. The best sugar daddy site of 2025 offers a blend of safety, verified users, user-friendly interfaces, and features tailored to help both sugar daddies and sugar babies find meaningful connections. Whether you’re new to sugar dating or a seasoned user, choosing the right site can make all the difference.

⇒ Join the Best Sugar Daddy Website for Free!

sugardaddy.com’s new report highlights the popular sugar daddy site that aims to make meeting others serious about these arrangements easier. From user-friendly interfaces to features that prioritize safety and transparency, this platform is making waves for all the right reasons.

The best sugar daddy website in 2025 provides a safe and straightforward way to build honest, mutually beneficial relationships. Whether you’re seeking financial support, companionship, or mentorship, platforms like sugardaddy.com make it easier than ever to find what you’re looking for.

Choosing the right platform depends on your personal preferences and relationship goals, but with the right approach and mindset, sugar dating can be a rewarding and empowering experience.

⇒ Get Matched Instantly on a Premier Sugar Daddy Website!

What Makes Sugar Daddy Website the Best?

It’s important to understand what factors distinguish a top-tier sugar daddy platform like sugardaddy.com:
- User Verification: To prevent scams and fake profiles, the best websites verify users through ID checks, photo verification, or phone confirmation.
- Privacy & Security: High-quality platforms offer encrypted messaging, profile privacy controls, and fraud prevention systems.
- Ease of Use: A clean, intuitive design helps users focus on meaningful communication.
- Transparent Intentions: These platforms support open dialogue about goals, expectations, and arrangements.
- Success Rate: The most popular sugar dating websites boast high match and satisfaction rates among users.
⇒ Create Your Free Profile on the Best Sugar Daddy Website

The Rise of Sugar Daddy Websites in 2025

The stigma surrounding sugar daddy websites has completely disappeared by 2025, so they now function as ordinary relationship platforms. Adults now select sugar daddy websites as an important mainstream dating choice due to their straightforward and rewarding relationship format. Traditional dating apps remain abundant in the market, yet more people choose sugar daddy sites because these platforms provide emotional intimacy and monetary stability. The contemporary cultural mindset, together with an increased openness in dating practices, explains this transition.

⇒ Connect Now on a Secure and Discreet Sugar Daddy Website

How Sugar Daddy Sites Work

For anyone curious about how sugar daddy websites actually function, the process is more straightforward than most people think. These platforms are designed to connect sugar daddies and sugar babies in a safe, respectful, and mutually beneficial way. Whether you’re looking for companionship, financial support, or a genuine connection, knowing how these platforms work can help you get started with confidence.

⇒ Discover the #1 Sugar Daddy Website for Genuine Connections

Signing Up Is Simple

The first step on any sugar daddy website is signing up. Most platforms allow anyone over 18 to create an account, though many sugar daddy sites attract users in their 20s through their 50s and beyond. During sign-up, users are asked to identify whether they are a sugar daddy or a sugar baby. Some sites even allow for flexible options if you fall somewhere in between or just want to explore.

After entering your email and basic info, you’ll usually be asked to confirm your account. Sugar daddy websites legitimize this process with a quick verification to make sure you’re a real person. This step is essential for cutting down on fake profiles and scammers.

⇒ Meet Thousands of Real Sugar Babies and Sugar Daddies!

Building Your Profile

Once you’ve registered, you’ll move on to building your profile. This is where things start to get interesting. Sugar daddy websites typically let users write a short bio, upload photos, and list preferences for what they’re seeking—whether that’s financial help, emotional support, or simply someone to enjoy life with. Millionaire sugar daddy profiles often highlight lifestyle, availability, and expectations upfront, so there’s no confusion.

With a good profile, you can make a huge difference in drawing the right sort of interest. That’s why most sugar babies and daddies take a bit of time to fill out every section. Sincerity is valued on a sugar daddy website, and more honest, detailed profiles tend to get more responses.

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Free vs. Paid Memberships

A lot of questions come in here. Most sugar daddy websites allow you to join for free, but the best experience is usually only available through a premium membership. You may be able to set up a profile and browse for free, but you may need to pay to send messages, see who viewed you, or unlock certain features.

However, some sugar baby websites also provide premium options for sugar babies, such as making your profile visible or accessing special features. However, if you are searching for sugar daddy websites to earn money, you will need to pick one that appreciates your time and provides tools that help you reach your goals.

⇒ Find Your Ideal Match on a Trusted Sugar Daddy Website

How to Make Money on Sugar Daddy Websites

For sugar babies, joining sugar daddy websites to make money isn’t just about receiving gifts or allowances—it’s about building connections with clear expectations and mutual respect. In today’s online sugar dating world, many are finding that with the right approach, these platforms offer genuine financial benefits while maintaining personal boundaries.

Sugar Daddies usually seek financial support or mentorship and possible lifestyle perks in exchange for companionship, communication, and honesty. Everything is upfront, and these agreements vary. Everyone knows what they’re getting themselves into, and there is no guessing or manipulation.

Arrangements are established on respectable sugar baby websites on the comfort levels of the person. Monthly allowances, per-meet contributions, or help with specific needs such as tuition or rent are some of the sugars that some sugar babies prefer. These discussions early on are awkward for no one, though it’s clear.

⇒ Discover Your Perfect Sugar Dating Match!

It’s not only about money. Sugar babies feel a lot of confidence, hone their communication skills, and connect to experienced, well-established partners who can give more than just financial help. The most successful arrangements have a certain level of trust and transparency on both sides, and respect goes both ways.

In addition, there is some discretion involved. Private messaging, photo blurring, and profile controls are most sugar dating platforms that allow you to keep things private. This helps both sides to keep their privacy secure while exploring real possibilities for connection.

Sugar daddy websites for money are an efficient and empowering way to acquire funds, especially if you are ready for flexibility or stability or would like to earn extra income whilst taking heed of your school studies or career.

⇒ Explore Verified Profiles on a Leading Sugar Daddy Website

Safety Tips When Using Sugar Daddy Websites

Safety is one of the most important parts of using sugar daddy websites. Whether you’re new to the scene or have been part of the sugar daddy dating world for a while, understanding how to protect yourself online should always come first. The best experiences happen when both sugar daddies and sugar babies know how to spot red flags and follow smart safety habits from the start.

Verified Profiles Matter

The best sugar daddy websites today understand the importance of keeping their communities real and respectful. One of the easiest ways to ensure that the person you’re talking to is genuine is by looking for verified profiles. Many sugar daddy sites have verification processes that ask users to confirm their identity with photo IDs, selfies, or other forms of proof. If a platform doesn’t offer this option, it’s a red flag. Verified profiles cut down on scammers and fake accounts, and they make it easier for users to relax and build real connections.

⇒ Join a Reputable Sugar Daddy Website

Red Flags You Shouldn’t Ignore

Unfortunately, not everyone who’s online is honest. One should pay attention to the common signs of a scam or dishonest behavior. That is a serious warning sign if someone is afraid of video calls, won’t step in and verify their identity, or asks for money right before you’ve even met and agreed to anything. The sugar daddy would never randomly bombard you with ‘too good to be true‘ and weird requests that make you feel weird about it. However, sugar daddies should be careful about sugar babies who ask about money right away, dodge questions all the time, or tell different stories.

Best Practices for Sugar Babies

If you are a sugar baby, follow your gut. First, you need to begin with just the best sugar daddy websites that are known and have good safety features, such as secure messaging, profile moderation, and reporting system. At first, keep the conversation on the platform, and when you start chatting with someone. During the process, don’t hand over your phone number, email, or any of your social media handles so early in the request. Have one friend for the first few times they meet in public, and let that friend know where you’ll be. The actions may be small, but they add up to being safe.

⇒ Connect with Elite Singles on a Discreet Sugar Daddy Website

Best Practices for Sugar Daddies

Sugar daddies have to watch out, too. You should search for sugar babies with full and honest profiles. Having clear photos and a thoughtful bio can go a long way in expressing sincerity. Never cave into rash feelings about sugar daddy sites. Understand them first before entering into financial arrangements – or any other kind for that matter, then use the strong safety tools the sites offer to both parties. Communication and mutual agreement, not pressure, is the basis for real relationships in the sugar dating space.

Stay on the Right Sites

Finally, choose the right platforms. Choose the best sugar daddy websites that are known for moderation, transparency, and real users. These sites provide secure chat systems, profile vetting, and a way to report suspicious activity, all of which will help you stay in control of your experience.

Simply put, safety in a sugar daddy dating site boils down to making common sense, relying on your instincts, and choosing a platform with user protection as a top priority. Sugar dating can be fun, companionship, or a serious arrangement, but if you stay smart about safety, you can have the most sugar dating without the stress.

⇒ Discover Premium Sugar Daddy Dating Opportunities

Tips for Creating a Successful Sugar Daddy or Sugar Baby Profile

Your profile is the first impression you make, and on sugar daddy websites, authenticity and clarity go a long way.
- Use Real, High-Quality Photos: Clear, recent pictures add credibility and attract serious users.
- Write a Specific Bio: State what you’re looking for and what you offer. Be honest about your expectations.
- Verify Your Profile: Verified users receive more attention and trust on top sugar dating sites.
- Be Respectful and Clear in Messages: Communication should be polite, clear, and aligned with the platform’s culture.
⇒ Sign Up for the Best Sugar Daddy Website!

How to Find a Sugar Daddy Online

How to approach sugar dating online can be the difference between a worthwhile experience and an exhausting one for any sugar babies or sugar daddies. If you are a newbie to this lifestyle or just want to get better results in 2025, here’s how you can find a sugar daddy or connect to someone who is after the same goal.

Tips for Sugar Babies

If you’re wondering how to get a sugar daddy who actually values you and respects your time, it starts with your profile. This is your introduction—your pitch. Be confident, be honest, and don’t over-edit your personality. The goal isn’t to look like someone you think he wants; the goal is to stand out by being the real you.

Your photos should be clear and recent. Don’t lean too heavily on filters or professional shoots that don’t reflect your day-to-day look. Sugar daddies aren’t just looking for looks—they’re looking for confidence, charm, and someone who understands what a mutually beneficial connection means.

When you start chatting with someone, don’t be afraid to clarify what you’re looking for. The right sugar daddy will appreciate your honesty. Being upfront doesn’t make you demanding—it shows you value your time and his.

Safety comes first. Use platforms that offer ID verification or moderation, and keep communications on the app or website until you’re completely comfortable. Avoid sending money or personal financial info, and meet in public places for the first time.

⇒ Explore the best sugar daddy dating site everyone is using.

Tips for Sugar Daddies

If you’re looking for where to find a sugar daddy relationship that works, it’s important to understand the tone of today’s online sugar dating scene. Sugar babies today are educated and independent, and they know their worth. They’re not just looking for money—they’re seeking connection, mentorship, and clarity.

So when reaching out, respect their time and be upfront about your expectations. Whether you’re looking for ongoing companionship or something more casual, stating that clearly avoids confusion.

A strong profile helps here, too. Talk about your interests, what kind of arrangement you prefer, and what you enjoy offering in return. And just like sugar babies—stay safe. Never send sensitive financial information through unsecured channels, and if a profile seems too perfect or pushy about money right away, take a step back.

⇒ Match with Your Ideal Sugar Partner Today!

Expert Tips for Sugar Dating

Finding the right match on a sugar daddy website takes more than just creating an account and sending a few messages. The team at Sugar Dating Experts has spent years reviewing platforms, studying real success stories, and speaking with experienced users to understand what actually works in the world of sugar dating. Here are some of their top expert-backed tips to help you make the most of your time on the best sugar daddy websites and avoid the common pitfalls that trip up new users.

1. Choose the Right Sugar Daddy Site

Not all sugar daddy sites are created equal. Some are packed with inactive accounts or overrun by bots. That’s why starting on one of the best sugar daddy websites—those known for verified users, active communities, and strong security—is the smartest move. If you’re serious about building a successful arrangement, it’s worth joining a sugar daddy website that values discretion, clear communication, and quality matches over quantity.

⇒ Start Your Sugar Dating Journey with a Safe Sugar Daddy Website

2. Keep Your Profile Real and Focused

Whether you’re a sugar baby or a sugar daddy, your profile is your first impression. Avoid clichés and vague statements. Be clear about what you’re looking for, and stay honest. If you’re a sugar baby, don’t be afraid to outline your interests and expectations while remaining polite and respectful. If you’re a sugar daddy, listing what kind of connection you prefer (and what you’re offering in return) will help attract the right kind of attention.

3. Prioritize Communication and Boundaries

From the first message to your first meeting, setting the tone early is essential. Don’t be afraid to talk about your boundaries, expectations, and level of comfort with certain topics. Good sugar dating relationships thrive on clear communication. Respect is key. The best connections on sugar daddy websites are built on mutual understanding—not games or assumptions.

4. Take Safety Seriously

A legitimate sugar daddy website should offer secure messaging, profile moderation, and clear policies against harassment or fraud. Stick to platforms that offer those features. Never send money to someone you haven’t met or fully vetted, and don’t feel pressured to give out personal details too quickly. Sugar dating is all about mutual benefit and trust, not rushed decisions.

5. Have Realistic Expectations

A relationship built through sugar dating can be exciting and rewarding, but only when both sides are upfront about what they want. Patience goes a long way. Don’t expect perfection right away. The most successful users on sugar daddy sites know it takes a bit of time, trial, and honesty to find the right fit.

⇒ Discover Your Perfect Sugar Dating Match!

Final Thoughts

As 2025 continues to shape the way people build relationships, sugar daddy websites are proving they’re more than just a passing trend—they’re becoming a serious choice for adults who know what they want. From the rise of premium sugar daddy sites to the ease of mobile platforms, today’s users are finding smarter, safer, and more respectful ways to build mutually beneficial relationships.

Sugar daddy websites have evolved into legitimate, well-regulated platforms that help people form beneficial and respectful connections. With proper safety precautions, honest communication, and the right platform, sugar dating can offer personal growth, companionship, and support for both parties.

The best sugar daddy websites offer a refreshing alternative to traditional dating. Instead of wasting time on apps full of mixed signals, people can now connect with others who share clear goals—whether it’s companionship, support, or a lifestyle upgrade. It’s about honesty, clarity, and being upfront from the beginning.

If you’re wondering how to find a sugar daddy or where to find a sugar daddy who respects boundaries and values communication, then starting with a trusted sugar daddy website is the right move.

Frequently Asked Questions

What are sugar daddy websites?

Sugar daddy websites are online platforms designed to connect successful, often older individuals (sugar daddies) with younger partners (sugar babies) looking for mentorship, support, or mutually beneficial relationships. These websites offer a safe, structured environment for users to communicate and define their expectations.

How do I choose the best sugar daddy website?

To choose the best sugar daddy website, consider factors like user verification, security features, ease of use, number of active users, and the site’s reputation. Look for platforms with clear guidelines, responsive customer support, and robust privacy protection. Reading reviews and comparing features can also help you select the most suitable option.

Are sugar daddy websites safe to use?

The top sugar daddy websites invest heavily in user safety. They often include profile verification, encryption, and fraud detection tools. However, safety also depends on user behavior. It’s important to follow online dating best practices, such as avoiding sharing sensitive information too quickly and meeting in public places.

Is joining a sugar daddy website free?

Most sugar daddy websites offer free basic accounts, but premium features like unlimited messaging, profile boosts, or access to verified users usually require a paid subscription. Some platforms allow sugar babies to join for free, while sugar daddies may need to pay to interact fully.

What is the most popular sugar daddy site in 2025?

While popularity can vary by region and demographic, platforms like sugardaddy.com continue to be among the most visited and trusted sugar daddy websites in 2025. Each site has unique features, so the best option depends on what kind of arrangement you’re seeking.

Can you find a genuine relationship on sugar daddy websites?

Yes, many users find meaningful and long-term relationships through sugar daddy websites. Clear communication, honesty about expectations, and choosing a reputable platform increase the chances of forming genuine connections.

Media Contact

Company: Sugar Daddy LLC

Contact Person: Christopher A. Waldo

Email: support@sugardaddy.com

Address: 5820 Sunset Ridge Ave, Las Vegas, Nevada, USA

URL: https://www.sugardaddy.com/

Phone: +1 (888) 841-4235

Content Accuracy Disclaimer

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It is the responsibility of the reader to verify product information directly through the official website or manufacturer prior to making a purchasing decision. Any reliance placed on the information in this article is done strictly at your own risk.

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The MIL Network –
April 30, 2025
MIL-OSI NGOs: Greenpeace USA’s response to TMC’s push to fast-track deep sea mining in the High Seas under the U.S. Seabed Mining Code

Source: Greenpeace Statement –

Greenpeace International activists from around the world have paddled and protested around MV COCO, a specialized offshore drilling vessel currently collecting data for deep sea mining frontrunner, The Metals Company, on its last expedition before it files the world’s first ever application to mine the seabed in the Pacific Ocean. © Martin Katz / Greenpeace

In response to The Metals Company’s push to fast-track deep-sea mining in the High Seas under the U.S. Seabed Mining Code, Arlo Hemphill, Greenpeace USA’s Deep Sea Mining Campaign Lead, stated: “Greenpeace USA condemns this reckless attempt by The Metals Company (TMC) to bypass international law and commercialize mining in the high seas and US-adjacent waters. It is nothing less than the plunder of the Pacific once again being pursued without the consent of Pacific Peoples. We cannot allow another dangerous extension of corporate greed and neo-colonialism, sacrificing ocean health, Indigenous rights, and future generations for the short-term gain of a few corporations to repeat itself in the deep sea.”

TMC’s application comes as Congress meets today, Tuesday, April 29, in a hearing requested by the House Natural Resources Committee, to explore the Potential of Deep-Sea Mining to expand American Mineral production. The application for mining TMC USA-A_2 in the Clarion Clipperton Zone attempts to exploit the U.S. legal system to advance mining operations in areas it was already licensed to explore under Nauru’s sponsorship through the International Seabed Authority processes. It disregards the multilateral process agreed upon by 170 countries and the European Union under UNCLOS. The company has faced opposition in that body from 32 countries and several Indigenous Pacific groups that have called for a ban, pause, or moratorium on deep sea mining.

Solomon P. Kaho’ohalahala, chair of the Pacific Island Heritage Coalition, said: “The people of the Pacific have a cultural connection to the deep sea. It is the birthplace of our ancestors, and of all life. Deep sea mining is an assault on our cultural heritage, and it is being rushed forward without our consultation. We call on Congress to stop this assault on the ocean we know as home, and to respect the values of Hawaiians and people from across the Pacific who will be on the frontlines should this industry take hold.”

Hemphill continued: “We urge congressional leaders to defend democratic oversight, reject corporate shortcuts, and protect the deep ocean. Greenpeace USA stands with Pacific communities, Indigenous leaders, scientists, and governments worldwide calling for a moratorium on this dangerous industry. We must defend the oceans, uphold international law, and reject a broken system that gambles our planet’s future for corporate profit.”

Louisa Casson, Greenpeace International Senior Campaigner, said: “The first application to commercially mine the seabed will be remembered as an act of total disregard for international law and scientific consensus. This unilateral US effort to carve up the Pacific Ocean already faces fierce international opposition. Governments around the world must now step up to defend international rules and cooperation against rogue deep sea mining. Leaders will be meeting at the UN Oceans Conference in Nice in June, where they must speak with one voice in support of a moratorium on this reckless industry.”

President Trump’s recent executive order promoting U.S. plans to initiate deep-sea mining in both U.S. and international waters has faced widespread criticism from several environmental NGOs, and state actors, including France, China, and the European Commission who have condemned it as a unilateral action that undermines multilateral cooperation and the United Nations. While the U.S. never ratified UNCLOS, bypassing the international system violates global norms that safeguard the deep ocean as the “common heritage of humankind,” setting a dangerous precedent for the management of all global commons.

Contact: Tanya Brooks, Senior Communications Specialist at Greenpeace USA, [email protected]

Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

MIL OSI NGO –

April 30, 2025
MIL-OSI Global: Mark Carney won: Here are the key economic priorities for his new government

Source: The Conversation – Canada – By Berhane Elfu, Lecturer in Finance, Northern Alberta Institute of Technology

The Liberal Party led by Mark Carney has secured a fourth consecutive term in government. This victory has come at a time when Canada is facing an unprecedented threat to its economic security and sovereignty from United States President Donald Trump.

In an election defined by concerns over Trump’s erratic tariff policy and talk of making Canada a 51st state, voters decided Carney was the leader best equipped to deal with these challenges.

Carney previously served as governor of the Bank of Canada, where he guided the country through the 2008 global financial crisis. He later became the first non-British person to head the Bank of England, helping guide the United Kingdom through Brexit, one of the biggest shocks to the British economy in decades.

Read more:
Game change Canadian election: Mark Carney leads Liberals to their fourth consecutive win

Now the world is facing similar financial shocks from Trump’s trade war. The on-again, off-again nature of Trump’s tariff policy could inflict significant damage to the global economy — even more to the American economy — and cause irreparable damage to its reputation as a rational entity in international trade.

In the face of the ill-advised and self-defeating U.S. tariffs, the new Canadian government should take prudent, urgent and bold steps to strengthen the nation’s economy. Here are major and important economic priorities for the government to reshape the economy and spur much-needed economic growth.

Stabilize and strengthen the national economy

As a primary act, the new government should stabilize the Canadian economy from the tariff shocks. It must continue to develop carefully calibrated retaliations to Trump’s tariffs.

The revenue raised from the tariffs should be used to compensate those directly affected by them, using a multi-pronged mechanism that includes training, increased employment insurance benefits and additional transfers to low-income households to reduce the impact of tariffs on food costs.

Read more:
U.S. tariffs are about to trigger the greatest trade diversion the world has ever seen

Currently, a series of provincial regulations restrict the goods and services that cross Canada’s provincial borders daily. The new government should urgently remove longstanding interprovincial trade barriers.

According to a report by the Canadian Federation of Independent Business, removing these impediments could boost the economy by up to $200 billion annually. Similarly, a study by the International Monetary Fund indicates the effect of these barriers is equivalent to a 21 per cent tariff.

Removing interprovincial trade barriers would significantly offset the negative effects of Trump’s tariffs on the Canadian economy, and provide a boost to the “Buy Canadian” movement.

Carney seems to have made this a priority already, which is promising. In March, he said he aims to have “free trade by Canada Day” among provinces and territories.

Streamlining natural resource projects

Canada is a natural resource superpower. However, for natural resources and critical minerals to be extracted efficiently, regulatory processes need to be streamlined by cutting red tape and duplicative assessments.

The federal government and the provinces should agree to a single environmental assessment that meets the standards of both jurisdictions.

Additionally and importantly, respectful, genuine and meaningful consultations must be undertaken by project proponents and governments with the relevant Indigenous communities to address their concerns, respect their rights and safeguard their economic well-being in the development of the natural resources projects.

Carney has said he will uphold the principle of free, prior and informed consent when it comes to initiating resource extraction projects and make it easier for Indigenous communities to become owners of said projects.

A similar approach should also guide the construction of infrastructure projects such as pipelines and ports, which play a crucial role in facilitating Canada’s exports.

Boost Canada’s productivity through innovation

A country’s ability to raise living standards for its people mostly depends on its capacity to improve its productivity. Economist Paul Krugman once stated, “productivity is not everything, but, in the long run, it is almost everything.”

Canada’s productivity is lagging, according to the Organization for Economic Co-operation and Development.

Read more:
Canada is lagging in innovation, and that’s a problem for funding the programs we care about

The new Canadian government should take steps to boost the nation’s productivity by increasing direct expenditures on research and development. Additional funding should be allocated to higher institutions of learning, and incentivizing businesses to spend more on research and development through significant tax credits.

Although research and development spending continues to grow in Canada, as a percentage to GDP, it is the second lowest among G7 nations. Boosting investments will drive innovation, spur economic growth and ensure Canada remains competitive on the global stage.

Dealing with U.S. tariffs

One of the government’s primary tasks will be preparing meticulously for trade negotiations with the U.S. to address the threat of tariffs and reach a “win-win” trade deal. Given Trump’s highly unpredictable nature, negotiations will not be easy.

Although Trump could have withdrawn from the Canada-US-Mexico Agreement (CUSMA), he has not done so, and zero-tariffs remain in effect for products that are certified as being North American origin under the CUSMA rules. This could be a solid starting point for future trade negotiations.

At the same time, Carney and his team must work to stabilize the Canadian economy against the unprecedented threat of Trump’s tariffs by strengthening the domestic economy, diversifying Canada’s exports and reducing the country’s dependence on the U.S.

Pulling away from the world’s largest economy will not be easy for Canadian businesses, given the deep integration of Canada’s economy with that of the U.S.

Still, expanding trade with the European Union, the U.K., Africa and the Association of Southeast Asian Nations — and exploring other opportunities to reducing trade barriers with nations in Asia, the Middle East and Latin America — will enlarge Canada’s export market.

By doing all this, Canada can not only prepare for a tough round of U.S. trade talks but also position itself as a stronger, more self-reliant global trading partner.

Berhane Elfu 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. Mark Carney won: Here are the key economic priorities for his new government – https://theconversation.com/mark-carney-won-here-are-the-key-economic-priorities-for-his-new-government-255477

MIL OSI – Global Reports –

April 30, 2025
MIL-OSI Russia: Financial News: Current Price Growth Slowed in Most Regions in March

Translation. Region: Russian Federal

Source: Central Bank of Russia –

Prices in 59 Russian regions increased in March less than in February. Services increased in price most noticeably. Food prices increased at an accelerated rate in most regions. Non-food products increased in price at a low rate almost everywhere, and in 18 regions they even became cheaper.

Annual inflation in 46 regions was slightly higher than the national average (10.34%), while in the rest it was lower or at the same level. Inflation remains high because the economy’s ability to increase the supply of goods and services is still lagging behind demand.

In order to reduce inflation in Russia to 4% in 2026, the Bank of Russia will maintain high rates in the economy for a long time.

For more information on inflation in each region, seeinformation and analytical materials, published on the website of the Bank of Russia. From this month they are published in a new format: the emphasis is not on annual, but on monthly rates of price change. This gives a clearer idea of why the Bank of Russia is building its monetary policy in this way.

Preview photo: Collection Maykova / Shutterstock / Fotodom

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

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

HTTPS: //vv. KBR.ru/Press/Event/? ID = 23584

MIL OSI Russia News –

April 30, 2025
MIL-OSI Canada: Strengthening democracy
Source: Government of Canada regional news (2)
[. Direct democracy processes like referendums, recall and citizen initiative petitions provide further opportunities for Albertans to be heard and express their views. The proposed Election Statutes Amendment Act, 2025, would make Alberta’s elections and other democratic processes more open, secure and accessible.

“I believe that democracy thrives when people trust the process. These changes would make elections at every level in Alberta more accessible and transparent while protecting their integrity, ensuring confidence in the outcomes. We are also creating more opportunities for Albertans to be involved in direct democracy and to have their say on issues that matter to them.”

Danielle Smith, Premier

Fair and free elections are the foundation of democracy, and Alberta’s government is taking action to protect them. The proposed changes include:

Banning the use of electronic tabulators and other automated voting machines, requiring all ballots to be counted by hand to protect election integrity.

Eliminating vouching at voting stations to strengthen identification and verification processes.

Requiring unofficial vote counts to be completed within 12 hours of polls closing to provide timely, reliable results.

Voters being required to cast their ballot in their constituency of residence or by requesting a special ballot.

Expanding access to special ballots, allowing any voter to request one without needing to provide a reason while protecting integrity by requiring voters to personally request their special ballot (with exceptions for those needing assistance due to a disability).

Updating the Recall Act to make it easier for Albertans to hold elected officials accountable by lowering the signature threshold and extending the timeframe to collect signatures.

Improving the Citizen Initiative Act process by setting the threshold for all successful petitions at 10 per cent of eligible voters who participated in the last general election.

“Albertans rightly expect their government to make sure democratic processes are fair and transparent with accurate and timely results. These proposed amendments would deliver on my mandate to review and make changes to strengthen public trust in the integrity of our elections.”

Mickey Amery, Minister of Justice and Attorney General

Additional amendments under the Election Statutes Amendment Act, 2025 would:

Allow corporate and union contributions for provincial elections while maintaining transparency and accountability through existing financial disclosure requirements.

Improve access to voting for First Nations and Métis Settlements during referendums and Senate elections.

Enhance emergency response provisions for voting disruptions during referendums and Senate elections.

These changes would help ensure that Alberta’s democratic processes are open, secure, and reflective of the will of Albertans, while creating new opportunities for greater public participation.

Quick facts

The Election Act governs the process for provincial elections, by-elections and plebiscites in Alberta and creates the office of the chief electoral officer, the head of Elections Alberta.

The Election Finances and Contributions Disclosure Act governs the financing of provincial elections, Senate elections and referendums, including rules for registered political parties, constituency associations, candidates, leadership contestants and third parties.

The Alberta Senate Election Act governs the process for Senate elections in Alberta.

The Referendum Act governs the process for referendums in Alberta.

The Recall Act outlines the process for Albertans to initiate the recall of an elected MLA.

The Citizen Initiative Act allows eligible voters in Alberta to propose legislative or policy initiatives, constitutional referendum questions and establishes rules for advertising and spending.

Related information

Improving consistency and fairness in Alberta’s democratic processes

Bill 54: Election Statutes Amendment Act, 2025

Election Statutes Amendment Act, 2025 fact sheet

Related news

Strengthening Alberta’s local elections (April 25, 2024)

Accountable and transparent local elections (October 18, 2024)

Multimedia

Watch the news conference

Listen to the news conference
MIL OSI Canada News –
April 30, 2025
MIL-OSI USA: Dingell, Jayapal, Sanders Introduce Medicare for All

Source: United States House of Representatives – Congresswoman Debbie Dingell (12th District of Michigan)

U.S. Representatives Debbie Dingell (MI-06) and Pramila Jayapal (WA-07), and U.S. Senator Bernie Sanders (I-VT) are today introducing the Medicare for All Act of 2025.

“Every American has the right to health care, period. If you’re sick, you should be able to go to the doctor without being worried about the cost of treatment or prescription medicine. Too many families must decide between putting food on the table and getting medical care that they desperately need,” said Dingell. “A health care system that ties coverage to employment will always leave patients vulnerable. It’s flat-out wrong and Medicare for All would put a stop to it. We’ve been fighting this fight since the 1940s, when my father-in-law helped author the first universal health care bill. It’s time to get this done.”

“It is a travesty when 85 million people are uninsured or underinsured and millions more are drowning in medical debt in the richest nation on Earth,” said Jayapal. “We don’t suffer from scarcity in America, we suffer from greed. That’s most clear in our broken healthcare system, which is why we need Medicare for All. People deserve and want comprehensive health care that covers mental health, long-term care, reproductive care, dental, vision and hearing, all without copays, private insurance premiums, sky high deductibles or other hidden fees. Health care is a human right, that is exactly why it’s time to pass Medicare for All.”

“The American people understand, as I do, that health care is a human right, not a privilege and that we must end the international embarrassment of the United States being the only major country on earth that does not guarantee health care to all of its citizens,” said Sanders.“It is not acceptable to me, nor to the American people, that over 85 million people today are either uninsured or underinsured. Today, there are millions of people who would like to go to a doctor but cannot afford to do so. This is an outrage. In America, your health and your longevity should not be dependent on your wealth. Health care is a human right that all Americans, regardless of income, are entitled to and they deserve the best health care that our country can provide.”

Dingell has long led the fight for universal health care coverage, introducing Medicare for All every Congress since she was elected. Her father-in-law, John Dingell Sr., drafted the first legislation that ultimately led to the creation of Medicare and her husband, John Dingell Jr., introduced a single-payer healthcare plan every session he served in Congress.

The Medicare for All Act builds upon and expands Medicare to provide comprehensive benefits to every person in the United States. This includes primary care, vision, dental, prescription drugs, mental health, substance abuse, long-term services and supports, reproductive health care, and more. The Medicare for All Act of 2025 also includes universal coverage of long-term care with no cost-sharing for older Americans and individuals with disabilities, and prioritizes home and community-based care over institutional care. Additionally, patients have the freedom to choose the doctors, hospitals, and other providers they wish to see without worrying about whether a provider is in-network. Importantly, the legislation streamlines the health care system to negotiate drug prices and reduce exorbitant administrative waste.

This legislation comes at a critical time when vital lifesaving health care programs, like Medicaid and Veterans Health Administration benefits, are at risk of being completely gutted by the Trump Administration. Currently, 85 million people in America are either uninsured or underinsured, and if the Trump Administration succeeds at completely privatizing our health care infrastructure, the number of uninsured and uninsured people will grow exponentially. The legislation has 104 original cosponsors in the House and 16 original cosponsors in the Senate.

View a video of the introduction press conference here.

“Nurses see the failure of our country’s profit-driven health care system every time we clock in to work,” said Nancy Hagans, President of National Nurses United. “In the richest country on earth, nobody should be forced to choose between taking their medications and putting food on the table. Yet countless families are pushed to the breaking point while greedy corporations charge astronomical, ludicrous fees for care that our patients have every right to receive. Nurses are fighting for a future in which our patients’ health is put first always and that’s why we are proud to continue our support for Medicare for All. When we guarantee health care for all, corporations and billionaires will no longer be able to deny anyone the care that they need.”

“We are long overdue for a universal health care system that guarantees care for all — free of copays, deductibles, and job-based coverage restrictions,” said Dr. Diljeet K. Singh, M.D., Dr.P.H., and President of Physicians for a National Health Plan. With the passage of the Medicare for All Act, physicians can focus on healing patients, not battling insurers over denials and delays. Patients will finally be able to seek care without the constant fear of crushing medical bills. Physicians for a National Health Program proudly stands with our legislators in the fight to make excellent health care a reality for everyone in America.”

“Postal workers know the value of affordable, universal services, grounded in a commitment to putting people over profits. That’s the type of service we are committed to provide communities across the country, day in and day out,” said APWU President Mark Dimondstein. “For too long, greedy corporations and their Wall Street investors have been able to deny the people of the country the quality, affordable, universal healthcare working people deserve. “Medicare for All,” healthcare as a human right, will make us all healthier and financially better off. A healthcare system that works for working people, not the profits of the insurance companies, is long overdue. It’s time for Medicare for All.”

“Medicaid is a life and death issue for tens of millions of people,” said Jaron Benjamin, Deputy Chief of Campaigns at Popular Democracy in Action. “For years, our network has fought for programs like Medicaid and Medicare that keep families whole: elders aging with dignity, children getting the care they need, people with disabilities living full lives. Instead of protecting what works, Republicans in Congress are pushing cuts to Medicaid so they can hand more money to their billionaire backers. We won’t stand by while our communities are sacrificed for tax giveaways.”

“As Donald Trump, Robert Kennedy and Congressional Republicans rush to strip health care from millions of Americans, we know this: We must not only block their cruel cuts but move America to a system that provides health care to everyone as a matter of right,” said Robert Weissman, co-president, Public Citizen. “America spends much more than other wealthy countries on health care only to have the worst health outcomes. The system works for health insurers, Big Pharma, hospital chains and private equity firms – but no one else. Medicare for All would ensure everyone in America can get the care they need throughout their lives. It is the realistic, humane, just and efficient reform we need.”

“If you want to renew the public’s faith in our political system, pass The Medicare for All Act of 2025,” said Alan Minsky, Executive Director, Progressive Democrats of America. “This one piece of legislation will instantly end the era, which has lasted far too long, when profits and wealth accumulation are more important than human life, including yours. MFA will return the general welfare, and the well-being of every individual, to the heart of our social contract. That will renew faith in America.”

“Health care is a human right and a basic need. Yet instead of getting health care, Americans get delays, denials, and bills they cannot afford. Today, predatory insurance CEOs are poised to reap the windfall from the tax scam giveaways earmarked for billionaires and corporations. The oligarchs that put Donald Trump and Dr. Oz in power want everything we have. We get sicker, make impossible choices, and go broke. They boost the stock prices of corporations – like UnitedHealth – that profit off our pain, and buy more mansions and yachts. We can put an end to those warped priorities through Medicare for All,” said Sulma Arias, executive director of People’s Action Institute. “Working people have made this the wealthiest nation in the history of the world, and there is more than enough if we don’t let the corporate crooks and billionaires steal it. So it’s time to choose: Our health care or their greed?”

“Health care should be a human right. But every time we negotiate with a boss for the right to see a doctor, they nickel and dime us until people have to choose between their health and putting food on the table. We’re sick of having to go on strike just to have decent health care,” said Shawn Fain, President of the UAW. “We’re sick of corporate America asking us to give up raises, retirement security, or work-life balance at the bargaining table so working-class people can avoid medical bankruptcy. Our current health care system is a con job that only works for the billionaire class. Medicare for All is common sense, and it’s what the working class needs. The UAW is proud to support this bill.”

MIL OSI USA News –

April 30, 2025
MIL-OSI USA: Congresswoman Torres Reintroduces Legislation to Strengthen Legal Protections for Survivors of Stealthing

Source: United States House of Representatives – Congresswoman Norma Torres (35th District of California)

April 29, 2025

The two bills protect victims of nonconsensual condom removal, known as ‘stealthing’

Washington, D.C. – Today, Congresswoman Norma J. Torres reintroduced two bills designed to strengthen legal protections for survivors of sexual violence, specifically targeting nonconsensual condom removal, also known as “stealthing.” The bills, introduced at the close of Sexual Assault Awareness Month, to provide crucial legal recourse and financial support for victims of sexual assault.

In 2021, California became the first state to make it a civil offense for someone to remove a condom without their partner’s consent. Since then, Maine and Washington State have passed similar laws.

The first bill, the Consent is Key Act, seeks to empower states to pass laws allowing civil damages for victims of stealthing by increasing funding for federal domestic violence programs. This would support survivors in their efforts to seek justice and compensation.

The second bill, the Stealthing Act of 2025, would create a federal civil right of action, allowing survivors of nonconsensual condom removal to pursue civil lawsuits against perpetrators for monetary damages.

“Stealthing is not just an invasion of trust; it is a traumatic violation with far-reaching consequences, including unintended pregnancies and the risk of sexually transmitted infections,” said Congresswoman Norma Torres. “It is critical that we provide survivors with every tool they need to pursue justice, whether that’s through civil court or stronger state protections. With these bills, we send a clear message: survivors are not alone, and we are committed to helping them heal and seek accountability.”

To read the Consent is Key Act, visit here.

To read the Stealthing Act of 2025, visit here.

###

MIL OSI USA News –

April 30, 2025
MIL-OSI USA: Rep. Mike Levin & Sen. Adam Schiff Urge White House to Disclose Executive Branch Employees’ Financial Transactions Leading Up to Trump’s Tariff Pause

Source: United States House of Representatives – Representative Mike Levin (CA-49)

April 28, 2025

Washington, D.C. – Following President Donald Trump’s abrupt tariffs pause that raised alarming questions about potential violations of federal ethics and insider trading laws, Rep. Mike Levin (CA-49) and Senator Adam Schiff (CA) sent a bicameral letter today with other Members of Congress to White House Chief of Staff Susan Wiles urgently demanding a full accounting of periodic financial transaction reports filed by senior White House and executive branch employees since the start of the Trump Administration.

In the letter, the lawmakers urged Ms. Wiles to commit to ensuring that all transaction reports are transmitted to the Office of Government Ethics (OGE) to be made public, as is required by law and was done during the first Trump Administration. They also requested that any extensions granted to White House employees be made public immediately and that the White House provide a detailed plan for how the Administration will address any potential violations of reporting requirements.

“Since President Trump announced his decision to abruptly change tariff policies on April 9, 2025, which caused significant fluctuations in financial markets and generated volatility for U.S. pension funds and retirement savings, newly identified data raises concerns about potential violations of federal ethics and insider trading laws by individuals close to the President with access to non-public information. In particular, reports surfaced that unidentified options traders placed bets worth millions of dollars that the market would rebound just minutes before President Trump’s 1:18 PM announcement via Truth Social that he would be pausing most of the sweeping tariffs he had announced days prior. Relatedly, we are deeply concerned about reporting of call volume spikes minutes before the President’s public announcement of his change in tariff policies,” wrote the lawmakers.

“We therefore urgently request a full accounting of the periodic transaction reports for all senior White House and executive branch employees since the start of the Administration, and we ask for your commitment to transmit all reports to the Office of Government Ethics (OGE) to be made public, as was done during the first Trump Administration,” continued the lawmakers.

“By failing to take these steps, the Administration would be withholding critical information from the American people regarding potential violations of federal ethics and insider trading laws. We look forward to reviewing all required reports and disclosures,” the lawmakers concluded.

In the Senate, this letter is signed by Senators Elizabeth Warren (D-Mass.), Elissa Slotkin (D-Mich.), Jeff Merkley (D-Ore.), and Chris Van Hollen (D-Md.). In the U.S. House of Representatives, this letter is signed by Yassamin Ansari (D-Ariz-03), Becca Balint (D-Vt.-Al.), Nanette Diaz Barragan (D-Calif.-44), Greg Casar (D-Texas.-35), Judy Chu (D-Calif.-28), Angie Craig (D-Minn.-2), Madeleine Dean (D-Penn.-04), Mark DeSaulnier (D-Calif.-10), Cleo Fields (D-La.-06), Pramila Jayapal (D-Wash.07), Seth Magaziner (D-R.I.-02), Jerrold Nadler (D-N.Y.-12), Eleanor Holmes Norton (D-Washington, D.C.), Delia Ramirez (D-Ill.-03), Bradley Schneider (D-Ill.-10), Brad Sherman (D-Calif.-32), Dina Titus (D-Nev.-01), Rashida Tlaib (D-Mich.-12), and Bonnie Watson Coleman (D-N.J.-12).

The full text of the letter can be found here and below:

Dear Ms. Wiles,

Since President Trump announced his decision to abruptly change tariff policies on April 9, 2025, which caused significant fluctuations in financial markets and generated volatility for U.S. pension funds and retirement savings, newly identified data raises concerns about potential violations of federal ethics and insider trading laws by individuals close to the President with access to non-public information. In particular, reports surfaced that unidentified options traders placed bets worth millions of dollars that the market would rebound just minutes before President Trump’s 1:18 PM announcement via Truth Social that he would be pausing most of the sweeping tariffs he had announced days prior. Relatedly, we are deeply concerned about reporting of call volume spikes minutes before the President’s public announcement of his change in tariff policies.

We therefore urgently request a full accounting of the periodic transaction reports for all senior White House and executive branch employees since the start of the Administration, and we ask for your commitment to transmit all reports to the Office of Government Ethics (OGE) to be made public, as was done during the first Trump Administration.

As you know, senior government officials – including the President, the Vice President, Members of Congress, and senior White House and executive branch employees – are required to file periodic transaction reports to inform the public within a certain timeframe when they, their spouse, or a dependent child make certain financial transactions, such as buying or selling stocks, exceeding $1,000. These periodic transaction reports are required in addition to annual financial disclosure reports and are imperative to ensure the American people are informed of potential conflicts of interest posed by the financial interests of senior White House and executive branch officials.

Periodic transaction reports are required to be filed with the individual’s agency – or in the case of the President and White House staff, with the White House – within 30 days after receiving notification of any financial transaction, but no later than 45 days after such transaction, unless a waiver or exclusion is granted.

Agencies, including the White House, are then required to transmit copies of those reports to OGE to be made publicly available upon request.

We are concerned that no periodic transaction reports have been posted on the OGE database for White House officials’ individual disclosures at any point since President Trump took office on January 20, 2025. There is reason to doubt that not a single senior White House official or employee has made any financial transactions triggering a periodic transaction report since the start of the Administration. As an important point of reference, during the first Trump Administration, periodic transaction reports filed by senior White House officials were made publicly available on the OGE’s disclosure database, as required by the Ethics in Government Act and the STOCK Act.

Senior White House officials have influence over or become witting of consequential policy decisions that can have market moving impacts. It is critical that such officials adhere to all applicable ethics, conflict of interest, and disclosure requirements. The American public deserves nothing less than full transparency, particularly in the context of the harm done to pension funds and retirement savings as a result of the President’s erratic trade policy.

Therefore, we ask that you and appropriate White House officials urgently certify any periodic transaction reports filed by White House employees and expeditiously transmit those to OGE, as required by 5 C.F.R. § 2634.We also request any relevant records or communications regarding extensions granted to White House employees with regard to their periodic transaction reports, and ask that you make all such extensions publicly available immediately. Finally, please provide to us a detailed plan for how the Administration will address any officials and employees who may have failed to file required disclosures from the start of the Administration. We respectfully request a response no later than May 9, 2025.

By failing to take these steps, the Administration would be withholding critical information from the American people regarding potential violations of federal ethics and insider trading laws. We look forward to reviewing all required reports and disclosures.

###

MIL OSI USA News –

April 30, 2025

MIL-OSI: ChampionX Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

THE WOODLANDS, Texas, April 29, 2025 (GLOBE NEWSWIRE) — ChampionX Corporation (NASDAQ: CHX) (“ChampionX” or the “Company”) today announced first quarter of 2025 results. Revenue was $864.5 million, net income attributable to ChampionX was $85.8 million, and adjusted EBITDA was $190.9 million. Income before income taxes margin was 12.1% and adjusted EBITDA margin was 22.1%. Cash from operating activities was $66.8 million and free cash flow was $38.6 million.

CEO Commentary

“The first quarter demonstrated the resilience of our ChampionX portfolio as we delivered strong adjusted EBITDA and adjusted EBITDA margin, and generated positive free cash flow. These results reflect the commitment of our ChampionX employees around the world who express daily an unwavering focus on delivering value-added solutions for our customers’ most important challenges. I am thankful and humbled to lead such a talented and dedicated team,” ChampionX’s President and Chief Executive Officer Sivasankaran “Soma” Somasundaram said.

“During the first quarter of 2025, we generated revenue of $864 million, which decreased 5% sequentially, in line with our expectations, driven primarily by a typical seasonal decline in international operations. We generated net income attributable to ChampionX of $86 million, income before income taxes margin of 12.1%, and we delivered adjusted EBITDA of $191 million, representing a 22.1% adjusted EBITDA margin, our second-highest level as ChampionX, which speaks to the continued productivity and profitability focus of our team.

“Cash flow from operating activities was $67 million during the first quarter, which represented 78% of net income attributable to ChampionX, and we generated free cash flow of $39 million, our 12th consecutive quarter of positive free cash flow. Our balance sheet and financial position remain strong, ending the first quarter with approximately $1.2 billion of liquidity, including $527 million of cash and $674 million of available capacity on our revolving credit facility.

“As a leading global provider of production optimization solutions for the energy industry, ChampionX is uniquely well-positioned to help operators meet the objective of maximizing the value of their producing assets, particularly against the backdrop of the ongoing structural shift toward capital discipline and moderating capital spending in the upstream and midstream industries. As global oil production grows, our differentiated and resilient production-oriented portfolio drives our expectation of positive performance relative to general oil and gas market activity in 2025.

“Amid recent changes in international trade policies, ChampionX is continuing to put its continuous improvement culture to work every day to successfully deliver products and technologies designed to improve our cost structure and drive efficiencies. We are leveraging our global and flexible supply chain footprint, long-standing supplier partnerships, pricing adjustments, and productivity initiatives to address tariff impacts, and we will continue to be there to serve our customers and deliver differentiated margin and free cash flow performance.”

Agreement to be Acquired by SLB

On April 2, 2024, SLB (NYSE: SLB) and ChampionX jointly announced a definitive Agreement and Plan of Merger (the “Merger Agreement”) for SLB to purchase ChampionX in an all-stock transaction. The transaction was unanimously approved by the ChampionX board of directors and the transaction received the approval of the ChampionX stockholders at a special meeting held on June 18, 2024. The transaction is subject to regulatory approvals and other customary closing conditions.

ChampionX may continue to pay its regular quarterly cash dividends with customary record and payment dates, subject to certain limitations under the Merger Agreement. Given the pending acquisition of ChampionX by SLB, ChampionX has discontinued providing quarterly guidance and will not host a conference call or webcast to discuss its first quarter 2025 results.

Production Chemical Technologies

Production Chemical Technologies revenue in the first quarter of 2025 was $523.4 million, a decrease of $46.3 million, or 8%, sequentially, due primarily to seasonally lower international sales volumes.

Segment operating profit was $82.2 million and adjusted segment EBITDA was $109.1 million. Segment operating profit margin was 15.7%, a sequential decrease of 248 basis points, and adjusted segment EBITDA margin was 20.8%, a sequential decrease of 259 basis points. The sequential decrease in segment operating profit margin and adjusted segment EBITDA margin was driven by lower sales volumes.

Production & Automation Technologies

Production & Automation Technologies revenue in the first quarter of 2025 was $264.4 million, a decrease of $5.2 million, or 2%, sequentially, due primarily to seasonally lower international sales volumes. Revenue from digital products was $57.8 million in the first quarter of 2025, a sequential decrease of 7%, driven by seasonally lower customer activity in North America.

Segment operating profit was $37.6 million and adjusted segment EBITDA was $70.3 million. Segment operating profit margin was 14.2%, a sequential decrease of 27 basis points, and adjusted segment EBITDA margin was 26.6%, a sequential increase of 34 basis points. The decrease in segment operating profit margin and the increase in adjusted segment EBITDA margin was driven by lower sales volumes, offset somewhat by productivity improvements.

Drilling Technologies

Drilling Technologies revenue in the first quarter of 2025 was $50.5 million, a decrease of $1.4 million, or 3%, sequentially, driven primarily by lower North America sales volumes.

Segment operating profit was $8.2 million and adjusted segment EBITDA was $10.2 million. Segment operating profit margin was 16.2%, compared to 20.6% in the prior quarter, and adjusted segment EBITDA margin was 20.3%, a decrease of 346 basis points, sequentially, due primarily to lower volumes.

Reservoir Chemical Technologies

Reservoir Chemical Technologies revenue in the first quarter of 2025 was $26.9 million, an increase of $5.0 million, or 23%, sequentially, driven by higher sales volumes in the U.S. and internationally.

Segment operating profit was $5.5 million and adjusted segment EBITDA was $6.3 million. Segment operating profit margin was 20.5%, an increase of 1008 basis points, sequentially, and adjusted segment EBITDA margin was 23.6%, an increase of 647 basis points, sequentially. The increase in segment operating profit margin and adjusted segment EBITDA margin was driven by higher sales volumes together with a more favorable product mix.

Other Business Highlights: Production Chemical Technologies and Reservoir Chemical Technologies

Awarded several first fill contracts for new conventional and unconventional fields in the Middle East region.
The North America Offshore production chemicals team was awarded the contract for an upcoming major capital project in the Gulf of America. The win was the culmination of years’ worth of work developing technical solutions to address the project’s most impactful challenges.
Commenced the initial deliveries of a significant volume of hydrate inhibitor for a major new FPSO, supporting an independent Australian operator.
Awarded program of competitive process water treatment applications in Canada after performing comprehensive technical assessments and value-added recommendations.
Completed our second RENEWIQ^® (production and reservoir chemistry delivered through one trailer) joint offering for frac treating.
Reservoir group was awarded RENEWIQ work for the application of our production enhancement PROE completion chemistry to improve production over the life of wells. This program, combined with our one-site PCT service expertise, continues to bring differentiated solutions to operators in the Permian Basin.
Started the Unconventional Water team to support North America Land Water applications.
Recently won four different contracts after re-entering the US Land market with our H2S scavenger program.
Providing chemistries supporting a Canadian customer that is scheduled to commission and start up a new thermal asset in August 2025.

Other Business Highlights: Production & Automation Technologies

Awarded a multi-year contract for production optimization software by a customer in Indonesia. 4000+ wells were successfully migrated in Q1 to our XSPOC^® production optimization software, delivering data-driven insights to help the customer make informed production decisions across their field for all artificial lift systems.
Continue to see strong market adoption of new digital technologies as operators look for cost-effective, scalable monitoring solutions. More than 450 SmartSpin^® wireless rod rotator sensors have been installed in the field and 120+ of the recently launched SMARTEN™^® Lite rod pump controller have been deployed.
ChampionX’s RMSpumptools, in partnership with our UNBRIDLED^® ESP Systems team, continues to grow sales of Automatic Diverter Valves (ADV) in the Permian for a major oil company. This key technology offers customers better sand and solids management in ESP systems and acts as a safety device for ESPs featuring a PMM motor.
Following two 6-month trial installations, RMSpumptools has received an order for its Y-chek systems by a Middle East national oil company. This success sets the direction for expansion of this Y-chek solution.
Completed the first 30+ well trial with a major producer in the Permian basin of the newly offered chemical injection assurance (CIA) software module on the modern, secure, and scalable Connexia^® platform. The CIA software provides fully integrated chemical measurement and delivery data as well as control and optimization capabilities.
The SMARTEN XE ESP control system is a leader in the ESP control market. In Q1, ChampionX secured a new customer based on the advanced capabilities of the SMARTEN XE controller. The system’s ability to deliver enhanced performance across multi-pad projects was central to the customer’s decision. Since launch, ChampionX has installed hundreds of ESPs with SMARTEN XE controls, improving the operation of customers’ ESP systems.
Launched newly designed LOOKOUT^® optimization services to provide real-time data with full ESP system control, advanced data visualization, integrated communications, and direct access to a team of multi-disciplined artificial lift experts. Powered by a modern digital backbone, LOOKOUT optimization services enable streamlined integration of diverse data sources and control solutions. LOOKOUT also leverages the full capabilities of the SMARTEN XE ESP control system, delivering advanced automation for ESP operations.
ChampionX’s Integrated Production Optimization (IPO) business continues to expand. A Permian operator, following a series of acquisitions, has expanded implementation of the IPO solution across newly acquired acreage – placing all new wells and ESP replacements under the IPO program. IPO has consistently delivered measurable production uplift, enhanced equipment reliability, stabilized reservoir pressure drawdown, and optimized chemical spend for the operator.
ChampionX’s Norris Sucker Rods has been awarded a large contract for the supply of approximately 35,000 sucker rods for a major customer in India. ChampionX won the contract based on superior reliability and in-country technical support, according to the customer.
Norris Rods received a large bulk order for sucker rods from a U.S. independent producer to assure supply for future operations and to mitigate the impact of tariffs. Norris Rods are manufactured from U.S. steel at the Company’s factory in Tulsa, Oklahoma.

About Non-GAAP Measures

In addition to financial results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), this news release presents non-GAAP financial measures. Management believes that adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to ChampionX and adjusted diluted earnings per share attributable to ChampionX, provide useful information to investors regarding the Company’s financial condition and results of operations because they reflect the core operating results of our businesses and help facilitate comparisons of operating performance across periods. In addition, free cash flow, free cash flow to adjusted EBITDA ratio, and free cash flow to revenue ratio are used by management to measure our ability to generate positive cash flow for debt reduction and to support our strategic objectives. Although management believes the aforementioned non-GAAP financial measures are good tools for internal use and the investment community in evaluating ChampionX’s overall financial performance, the foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying financial tables.

About ChampionX

ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.ChampionX.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements relating to the proposed transaction between SLB and ChampionX, including statements regarding the benefits of the transaction and the anticipated timing of the transaction, and information regarding the businesses of SLB and ChampionX, including expectations regarding outlook and all underlying assumptions, SLB’s and ChampionX’s objectives, plans and strategies, information relating to operating trends in markets where SLB and ChampionX operate, statements that contain projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that SLB or ChampionX intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “guidance,” “expects,” “believes,” “anticipates,” “should,” “estimates,” “intends,” “plans,” “seeks,” “targets,” “may,” “can,” “believe,” “predict,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “ambition,” “goal,” “scheduled,” “think,” “could,” “would,” “will,” “see,” “likely,” and other similar expressions or variations, but not all forward-looking statements include such words. These forward-looking statements involve known and unknown risks and uncertainties, and which may cause SLB’s or ChampionX’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to those factors and risks described in Part I, “Item 1. Business”, “Item 1A. Risk Factors”, and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in SLB’s Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the “SEC”) on January 22, 2025 and Part 1, Item 1A, “Risk Factors” in ChampionX’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 5, 2025, and each of their respective, subsequent Current Reports on Form 8-K. These include, but are not limited to, and in each case as a possible result of the proposed transaction on each of SLB and ChampionX: the ultimate outcome of the proposed transaction between SLB and ChampionX, including the effect of the announcement of the proposed transaction; the ability to operate the SLB and ChampionX respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers, suppliers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction (including the adoption of the merger agreement in respect of the proposed transaction by ChampionX stockholders); other risks related to the completion of the proposed transaction and actions related thereto; the ability of SLB and ChampionX to integrate the business successfully and to achieve anticipated synergies and value creation from the proposed transaction; changes in demand for SLB’s or ChampionX’s products and services; global market, political and economic conditions, including in the countries in which SLB and ChampionX operate; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; the extent of growth of the oilfield services market generally, including for chemical solutions in production and midstream operations; the global macro-economic environment, including headwinds caused by inflation, rising interest rates, unfavorable currency exchange rates, and potential recessionary or depressionary conditions; the impact of shifts in prices or margins of the products that SLB or ChampionX sells or services that SLB or ChampionX provides, including due to a shift towards lower margin products or services; cyber-attacks, information security and data privacy; the impact of public health crises, such as pandemics (including COVID-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; trends in crude oil and natural gas prices, including trends in chemical solutions across the oil and natural gas industries, that may affect the drilling and production activity, profitability and financial stability of SLB’s and ChampionX’s customers and therefore the demand for, and profitability of, their products and services; litigation and regulatory proceedings, including any proceedings that may be instituted against SLB or ChampionX related to the proposed transaction; failure to effectively and timely address energy transitions that could adversely affect the businesses of SLB or ChampionX, results of operations, and cash flows of SLB or ChampionX; and disruptions of SLB’s or ChampionX’s information technology systems.

These risks, as well as other risks related to the proposed transaction, are included in the Form S-4 and proxy statement/prospectus that was filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to SLB’s and ChampionX’s respective periodic reports and other filings with the SEC, including the risk factors identified in SLB’s and ChampionX’s Annual Reports on Form 10-K, respectively, and SLB’s and ChampionX’s Quarterly Reports on Form 10-Q. The forward-looking statements included in this communication are made only as of the date hereof. Neither SLB nor ChampionX undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Investor Contact: Byron Pope
byron.pope@championx.com
281-602-0094

Media Contact: John Breed
john.breed@championx.com
281-403-5751

CHAMPIONX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands, except per share amounts)		2025			2024			2024
Revenue	$	864,464		$	912,037		$	922,141
Cost of goods and services		572,938			600,154			622,937
Gross profit		291,526			311,883			299,204
Costs and expenses:
Selling, general and administrative expense		177,045			184,722			172,414
(Gain) loss on sale-leaseback transaction		—			—			(29,883	)
Interest expense, net		13,196			12,375			13,935
Foreign currency transaction losses (gains), net		1,504			1,697			55
Other expense (income), net		(4,631	)		(5,026	)		2,927
Income before income taxes		104,412			118,115			139,756
Provision for income taxes		15,384			33,204			26,596
Net income		89,028			84,911			113,160
Net income attributable to noncontrolling interest		3,231			2,145			237
Net income attributable to ChampionX	$	85,797		$	82,766		$	112,923

Earnings per share attributable to ChampionX:
Basic	$	0.45		$	0.43		$	0.59
Diluted	$	0.44		$	0.43		$	0.58

Weighted-average shares outstanding:
Basic		191,143			190,586			190,803
Diluted		193,709			193,487			193,964

CHAMPIONX CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

(in thousands)	March 31, 2025			December 31, 2024
*ASSETS*
Current Assets:
Cash and cash equivalents	$	526,559		$	507,681
Receivables, net		417,639			466,782
Inventories, net		497,183			496,831
Assets held for sale		241,791			14,001
Prepaid expenses and other current assets		85,617			78,602
Total current assets		1,768,789			1,563,897

Property, plant and equipment, net		729,931			755,422
Goodwill		619,505			718,944
Intangible assets, net		247,907			258,614
Other non-current assets		134,258			173,375
Total assets	$	3,500,390		$	3,470,252

*LIABILITIES AND EQUITY*
Current Liabilities:
Current portion of long-term debt	$	6,203		$	6,203
Accounts payable		498,335			455,531
Liabilities held for sale		61,415			—
Other current liabilities		218,943			324,138
Total current liabilities		784,896			785,872

Long-term debt		590,746			591,453
Other long-term liabilities		220,054			261,749
Stockholders’ equity:
ChampionX stockholders’ equity		1,916,726			1,846,437
Noncontrolling interest		(12,032	)		(15,259	)
Total liabilities and equity	$	3,500,390		$	3,470,252

CHAMPIONX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

	Three Months Ended March 31,
(in thousands)		2025			2024
Cash flows from operating activities:
Net income	$	89,028		$	113,160
Depreciation and amortization		60,056			59,580
(Gain) loss on sale-leaseback transaction		—			(29,883	)
Loss on Argentina Blue Chip Swap transaction		—			4,092
Deferred income taxes		(10,941	)		(12,903	)
Loss (gain) on disposal of fixed assets		1,616			1,107
Receivables		13,937			62,915
Inventories		(25,569	)		(39,873	)
Accounts payable		40,675			68,248
Other assets		(19,955	)		(602	)
Leased assets		(6,665	)		(4,254	)
Other operating items, net		(75,380	)		(48,079	)
Net cash flows provided by operating activities		66,802			173,508

Cash flows from investing activities:
Capital expenditures		(31,250	)		(31,912	)
Proceeds from sale of fixed assets		3,004			2,390
Proceeds from sale-leaseback transaction		—			44,292
Purchase of investments		—			(17,162	)
Sale of investments		—			13,070
Acquisitions, net of cash acquired		—			(21,472	)
Net cash used for investing activities		(28,246	)		(10,794	)

Cash flows from financing activities:
Repayment of long-term debt		(1,551	)		(1,551	)
Repurchases of common stock		—			(49,399	)
Dividends paid		(18,110	)		(16,247	)
Other		(488	)		3,104
Net cash used for financing activities		(20,149	)		(64,093	)

Effect of exchange rate changes on cash and cash equivalents		471			(1,161	)

Net increase in cash and cash equivalents		18,878			97,460
Cash and cash equivalents at beginning of period		507,681			288,557
Cash and cash equivalents at end of period	$	526,559		$	386,017

CHAMPIONX CORPORATION
BUSINESS SEGMENT DATA
(UNAUDITED)

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands)		2025			2024			2024
Segment revenue:
Production Chemical Technologies	$	523,390		$	569,662		$	590,108
Production & Automation Technologies		264,377			269,568			252,614
Drilling Technologies		50,530			51,942			55,206
Reservoir Chemical Technologies		26,926			21,937			24,705
Corporate and other		(759	)		(1,072	)		(492	)
Total revenue	$	864,464		$	912,037		$	922,141

Income before income taxes:
Segment operating profit (loss):
Production Chemical Technologies	$	82,172		$	103,567		$	87,832
Production & Automation Technologies		37,554			39,027			28,470
Drilling Technologies		8,174			10,703			44,402
Reservoir Chemical Technologies		5,529			2,294			3,746
Total segment operating profit		133,429			155,591			164,450
Corporate and other		15,821			25,101			10,759
Interest expense, net		13,196			12,375			13,935
Income before income taxes	$	104,412		$	118,115		$	139,756

Operating profit margin / income before income taxes margin:
Production Chemical Technologies		15.7	%		18.2	%		14.9	%
Production & Automation Technologies		14.2	%		14.5	%		11.3	%
Drilling Technologies		16.2	%		20.6	%		80.4	%
Reservoir Chemical Technologies		20.5	%		10.5	%		15.2	%
ChampionX Consolidated		12.1	%		13.0	%		15.2	%

Adjusted EBITDA
Production Chemical Technologies	$	109,065		$	133,475		$	118,031
Production & Automation Technologies		70,269			70,739			60,340
Drilling Technologies		10,237			12,321			16,074
Reservoir Chemical Technologies		6,347			3,751			5,346
Corporate and other		(5,049	)		(8,021	)		(8,079	)
Adjusted EBITDA	$	190,869		$	212,265		$	191,712

Adjusted EBITDA margin
Production Chemical Technologies		20.8	%		23.4	%		20.0	%
Production & Automation Technologies		26.6	%		26.2	%		23.9	%
Drilling Technologies		20.3	%		23.7	%		29.1	%
Reservoir Chemical Technologies		23.6	%		17.1	%		21.6	%
ChampionX Consolidated		22.1	%		23.3	%		20.8	%

CHAMPIONX CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
(UNAUDITED)

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands)		2025			2024			2024
Net income attributable to ChampionX	$	85,797		$	82,766		$	112,923
Pre-tax adjustments:
(Gain) loss on sale leaseback transaction⁽¹⁾		—			—			(29,883	)
Russia sanctions compliance and impacts⁽²⁾		28			73			152
Restructuring and other related charges		1,059			2,704			1,709
Merger transaction costs⁽³⁾		10,232			14,434			—
Acquisition costs and related adjustments⁽⁴⁾		—			75			1,232
Intellectual property defense		382			158			779
Merger-related indemnification responsibility⁽⁵⁾		—			100			—
Tulsa, Oklahoma storm damage		—			—			305
Foreign currency transaction losses (gains), net		1,504			1,697			55
Loss on Argentina Blue Chip Swap transaction		—			—			4,092
Tax impact of adjustments		(2,971	)		(5,565	)		5,066
Adjusted net income attributable to ChampionX		96,031			96,442			96,430
Tax impact of adjustments		2,971			5,565			(5,066	)
Net income attributable to noncontrolling interest		3,231			2,145			237
Depreciation and amortization		60,056			62,534			59,580
Provision for income taxes		15,384			33,204			26,596
Interest expense, net		13,196			12,375			13,935
Adjusted EBITDA	$	190,869		$	212,265		$	191,712

_______________________

_{(1) Amount represents the gain on the sale and leaseback of certain buildings and land.}
_{(2) Includes charges incurred related to legal and professional fees to comply with, as well as additional foreign currency exchange losses associated with, the sanctions imposed in Russia.}
_{(3) Includes costs incurred in relation to the Merger Agreement with Schlumberger Limited, including third party legal and professional fees.}
_{(4) Includes costs incurred for the acquisition of businesses.}
_{(5) Expense related to the June 3, 2020 merger transaction with Ecolab in which we acquired the Chemical Technologies business.}

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands)		2025			2024			2024
Diluted earnings per share attributable to ChampionX	$	0.44		$	0.43		$	0.58
Per share adjustments:
(Gain) loss on sale leaseback transaction and disposal group		—			—			(0.15	)
Russia sanctions compliance and impacts		—			—			—
Restructuring and other related charges		0.01			0.01			0.01
Merger transaction costs		0.05			0.07			—
Acquisition costs and related adjustments		—			—			0.01
Intellectual property defense		—			—			—
Merger-related indemnification responsibility		—			—			—
Tulsa, Oklahoma storm damage		—			—			—
Foreign currency transaction losses (gains), net		0.01			0.01			—
Loss on Argentina Blue Chip Swap transaction		—			—			0.02
Tax impact of adjustments		(0.01	)		(0.02	)		0.03
Adjusted diluted earnings per share attributable to ChampionX	$	0.50		$	0.50		$	0.50

CHAMPIONX CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES BY SEGMENT
(UNAUDITED)

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands)		2025			2024			2024
Production Chemical Technologies
Segment operating profit	$	82,172		$	103,567		$	87,832
Non-GAAP adjustments		1,658			2,251			3,933
Depreciation and amortization		25,235			27,657			26,266
Segment adjusted EBITDA	$	109,065		$	133,475		$	118,031

Production & Automation Technologies
Segment operating profit	$	37,554		$	39,027		$	28,470
Non-GAAP adjustments		764			75			2,076
Depreciation and amortization		31,951			31,637			29,794
Segment adjusted EBITDA	$	70,269		$	70,739		$	60,340

Drilling Technologies
Segment operating profit	$	8,174		$	10,703		$	44,402
Non-GAAP adjustments		766			306			(29,883	)
Depreciation and amortization		1,297			1,312			1,555
Segment adjusted EBITDA	$	10,237		$	12,321		$	16,074

Reservoir Chemical Technologies
Segment operating profit	$	5,529		$	2,294		$	3,746
Non-GAAP adjustments		(278	)		39			16
Depreciation and amortization		1,096			1,418			1,584
Segment adjusted EBITDA	$	6,347		$	3,751		$	5,346

Corporate and other
Segment operating profit	$	(29,017	)	$	(37,476	)	$	(24,694	)
Non-GAAP adjustments		10,295			16,570			2,299
Depreciation and amortization		477			510			381
Interest expense, net		13,196			12,375			13,935
Segment adjusted EBITDA	$	(5,049	)	$	(8,021	)	$	(8,079	)

Free Cash Flow

	Three Months Ended
	March 31,			December 31,			March 31,
(in thousands)		2025			2024			2024
Free Cash Flow
Cash flows from operating activities	$	66,802		$	207,250		$	173,508
Less: Capital expenditures, net of proceeds from sale of fixed assets		(28,246	)		(37,117	)		(29,522	)
Free cash flow	$	38,556		$	170,133		$	143,986

Cash From Operating Activities to Revenue Ratio
Cash flows from operating activities	$	66,802		$	207,250		$	173,508
Revenue	$	864,464		$	912,037		$	922,141

Cash from operating activities to revenue ratio		8	%		23	%		19	%

Free Cash Flow to Revenue Ratio
Free cash flow	$	38,556		$	170,133		$	143,986
Revenue	$	864,464		$	912,037		$	922,141

Free cash flow to revenue ratio		4	%		19	%		16	%

Free Cash Flow to Adjusted EBITDA Ratio
Free cash flow	$	38,556		$	170,133		$	143,986
Adjusted EBITDA	$	190,869		$	212,265		$	191,712

Free cash flow to adjusted EBITDA ratio		20	%		80	%		75	%

The MIL Network –

April 30, 2025

MIL-OSI: Montauk Renewables Schedules First Quarter 2025 Conference Call for Friday, May 9, 2025, at 8:30 a.m. ET

Source: GlobeNewswire (MIL-OSI)

PITTSBURGH, April 29, 2025 (GLOBE NEWSWIRE) — Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery and conversion of biogas into renewable natural gas (“RNG”), will host a conference call and webcast on Friday, May 9, 2025, at 8:30 a.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025. The Company will issue a press release reporting the financial results after the close of regular stock market trading hours on the day prior to the conference call and webcast.

First Quarter 2025 Conference Call and Webcast Details

Date: Friday, May 9, 2025

Time: 8:30 a.m. ET

Participant Access: [Link Here]

Please register for the conference call and webcast using the above link in advance of the call start time. The webcast platform will register your name and organization as well as provide dial-in numbers and a unique access pin. Please contact Gateway Group at (949) 574-3860 if you experience technical difficulties.

The conference call and webcast will have a live Q&A session and be available here and on the Company’s website at https://ir.montaukrenewables.com.

A replay of the conference call and webcast will be available after 11:30 a.m. Eastern time on the same day through May 9, 2026.

About Montauk Renewables, Inc.

Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has operations at 13 projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit https://ir.montaukrenewables.com.

Company Contact:

John Ciroli
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The MIL Network –

April 30, 2025
MIL-OSI Africa: Secretary-General’s remarks to the General Assembly event in Commemoration of His Holiness Pope Francis [trilingual, as delivered; scroll down for All-English and All-French versions]

Source: United Nations – English

xcellencies, ladies and gentlemen,

His Holiness Pope Francis was a man of faith — and a bridge-builder among all faiths.

He was a champion of the most marginalized people on earth.

He was a voice of community in a world of division…

A voice of mercy in a world of cruelty…

A voice of peace in a world of war.

And he was a steadfast friend of the United Nations, addressing Member States from this very podium in 2015.

During that historic visit, he also spoke of our organization’s ideal of a “united human family living in harmony, working not only for peace, but in peace, working not only for justice, but in a spirit of justice.”

On behalf of our UN family, I extend by deepest condolences to the Catholic community and to so many others around the world grieving this tremendous loss.

Excellencies,

Pope Francis was at the helm of the Roman Catholic Church for a dozen years — but that was preceded by decades of service and good works.

As a young man, Pope Francis found his calling in the slums of Buenos Aires, where his dedication to serving the poor earned him the title “Bishop of the Slums.”

These early experiences sharpened his conviction that faith must be an engine of action and change.

Pope Francis put that engine into overdrive as an unstoppable voice for social justice and equality.

His 2020 encyclical, Fratelli Tutti, drew a straight line between greed and poverty, hunger, inequality and suffering.

While decrying the inequality that defines our globalized economy, he also warned against what he called “globalization of indifference.”

I will never forget the first official visit he undertook as Pope, at a time when I served as High Commissioner for Refugees.

Pope Francis chose to go to the Mediterranean island of Lampedusa in 2013 — to put a global spotlight on the desperate plight of asylum seekers and migrants.

He warned against “the culture of comfort, which makes us think only of ourselves, makes us insensitive to the cries of other people.”

And on last year’s World Refugee Day, he called on all countries “to welcome, promote, accompany and integrate those who knock on our doors.”

When I met with him at the Vatican as Secretary-General in 2019, I was struck by his humanity and his humility.

He always saw challenges through the eyes of those on the peripheries of life.

And he said we can never look away from injustice and inequality — or close our eyes to those suffering from conflict or acts of violence.

Always a pilgrim for peace, Pope Francis ventured to war-torn countries around the world — from Iraq to South Sudan to the Democratic Republic of Congo and beyond — decrying bloodshed and violence, and pushing for reconciliation.

He stood with conviction for innocents caught in war zones such as Ukraine and Gaza.

He did it with his global platform — but he also did it in much more personal and profound ways.

Every day without fail, precisely at 7:00 p.m., he would quietly call the Church of the Holy Family in Gaza City.

As someone at the Church said, “He would ask us how we were, what did we eat, did we have clean water, was anyone injured? It was never diplomatic or a matter of obligation. It was the questions a father asks to their son.”

And in his final message on Easter Sunday, Pope Francis underscored the vital importance of ending these conflicts.

Jusqu’au bout, le pape François aura incarné l’appel à la justice – pour les peuples et pour la planète.

Grâce à son encyclique Laudato Si publiée en 2015, il a contribué à l’adoption de l’Accord de Paris en appelant les dirigeants à protéger « notre maison commune ».

Il a également mis en évidence les liens manifestes entre la dégradation de l’environnement et la dégradation de la condition humaine.

Le pape François comprenait que ceux qui avaient le moins contribué à la crise climatique en subissaient les conséquences les plus graves – et que nous avons le devoir spirituel et moral d’agir.

Excelencias:

En el mundo actual de división y discordia, es particularmente significativo que el Papa Francisco haya proclamado 2025 como el año de la esperanza.

Él fue siempre un mensajero de esperanza.

Ahora nos corresponde a todos nosotros llevar adelante esta esperanza.

En su funeral del sábado, me conmovió profundamente ver a líderes de todas las religiones y tendencias políticas unirse en solidaridad para honrar la vida y los logros del Papa Francisco – un raro espíritu de unidad y reflexión solemne que necesitamos ahora más que nunca.

Nuestro mundo sería un lugar mucho mejor si siguiéramos su ejemplo de unidad, compasión y comprensión mutua a través de nuestras propias palabras y acciones.

Mientras lloramos la muerte del Papa Francisco, renovemos nuestro compromiso con la paz, la dignidad humana y la justicia social – las causas a las que dedicó cada momento de su extraordinaria vida.

Muchas gracias.

***
[All-English]

Excellencies, ladies and gentlemen,

His Holiness Pope Francis was a man of faith — and a bridge-builder among all faiths.

He was a champion of the most marginalized people on earth.

He was a voice of community in a world of division…

A voice of mercy in a world of cruelty…

A voice of peace in a world of war.

And he was a steadfast friend of the United Nations, addressing Member States from this very podium in 2015.

During that historic visit, he also spoke of our organization’s ideal of a “united human family living in harmony, working not only for peace, but in peace, working not only for justice, but in a spirit of justice.”

On behalf of our UN family, I extend by deepest condolences to the Catholic community and to so many others around the world grieving this tremendous loss.

Excellencies,

Pope Francis was at the helm of the Roman Catholic Church for a dozen years — but that was preceded by decades of service and good works.

As a young man, Pope Francis found his calling in the slums of Buenos Aires, where his dedication to serving the poor earned him the title “Bishop of the Slums.”

These early experiences sharpened his conviction that faith must be an engine of action and change.

Pope Francis put that engine into overdrive as an unstoppable voice for social justice and equality.

His 2020 encyclical, Fratelli Tutti, drew a straight line between greed and poverty, hunger, inequality and suffering.

While decrying the inequality that defines our globalized economy, he also warned against what he called “globalization of indifference.”

I will never forget the first official visit he undertook as Pope, at a time when I served as High Commissioner for Refugees.

Pope Francis chose to go to the Mediterranean island of Lampedusa in 2013 — to put a global spotlight on the desperate plight of asylum seekers and migrants.

He warned against “the culture of comfort, which makes us think only of ourselves, makes us insensitive to the cries of other people.”

And on last year’s World Refugee Day, he called on all countries “to welcome, promote, accompany and integrate those who knock on our doors.”

When I met with him at the Vatican as Secretary-General in 2019, I was struck by his humanity and his humility.

He always saw challenges through the eyes of those on the peripheries of life.

And he said we can never look away from injustice and inequality — or close our eyes to those suffering from conflict or acts of violence.

Always a pilgrim for peace, Pope Francis ventured to war-torn countries around the world — from Iraq to South Sudan to the Democratic Republic of Congo and beyond — decrying bloodshed and violence, and pushing for reconciliation.

He stood with conviction for innocents caught in war zones such as Ukraine and Gaza.

He did it with his global platform — but he also did it in much more personal and profound ways.

Every day without fail, precisely at 7:00 p.m., he would quietly call the Church of the Holy Family in Gaza City.

As someone at the Church said, “He would ask us how we were, what did we eat, did we have clean water, was anyone injured? It was never diplomatic or a matter of obligation. It was the questions a father asks to their son.”

And in his final message on Easter Sunday, Pope Francis underscored the vital importance of ending these conflicts.

Throughout, Pope Francis was a clear voice of justice for people and planet.

He helped secure the adoption of the Paris Agreement with his 2015 encyclical Laudato Si that called on leaders to protect “our common home.”

He also highlighted the clear ties between environmental degradation and the degradation of humanity.

Pope Francis understood that those who contributed the least to the climate crisis suffered the most — and that we have a spiritual and moral duty to act.

Excellencies,

In today’s world of division and discord, it is particularly meaningful that Pope Francis proclaimed 2025 to be the year of hope.

He was forever a messenger of hope.

Now it falls to all of us to carry this hope forward.

At his funeral on Saturday, I was deeply moved to see leaders from across all faiths and political stripes come together in solidarity to honour the life and achievements of Pope Francis — a rare spirit of unity and solemn reflection that we need now, more than ever.
Our world would be a much better place if we followed his lifelong example of unity, compassion and mutual understanding through our own words and actions.

As we mourn the passing of Pope Francis, let us renew our pledge to peace, human dignity and social justice — the causes for which he dedicated every moment of his most extraordinary life.

Thank you.

***
[All-French]

Excellences, Mesdames et Messieurs,

Sa Sainteté le pape François était un homme de foi – et un bâtisseur de ponts entre toutes les religions.

Il s’était fait le champion des personnes les plus marginalisées sur Terre.

Il était une voix de solidarité dans un monde de clivages…

Une voix de compassion dans un monde de cruauté…

Une voix de paix dans un monde de guerre.

C’était aussi un grand ami de l’Organisation des Nations Unies et il s’était exprimé en 2015 devant les États Membres depuis cette même tribune.

Lors de cette visite historique, il avait évoqué l’idéal de notre Organisation, à savoir « une famille humaine unie, vivant en harmonie, travaillant non seulement pour la paix, mais dans la paix ; travaillant non seulement pour la justice, mais dans un esprit de justice. »

Au nom de notre famille, celle des Nations Unies, j’adresse mes plus sincères condoléances à l’ensemble des catholiques et aux nombreuses autres personnes qui, partout dans le monde, souffrent de cette terrible perte.

Excellences,

Le pape François a été à la tête de l’Église catholique romaine pendant 12 ans, mais son pontificat a été précédé par des décennies de service et de bonnes œuvres.

Jeune homme, il a trouvé sa vocation dans les quartiers défavorisés de Buenos Aires, où son dévouement au service des pauvres lui a ensuite valu le titre « d’évêque des bidonvilles ».

Ces premières expériences ont renforcé sa conviction que la foi devait être un moteur d’action et de changement.

Restant fidèle à cette conviction, il a défendu sans relâche la cause de la justice sociale et de l’égalité.

Dans son encyclique de 2020, Fratelli Tutti, François a établi un lien direct entre la cupidité, d’une part, et la pauvreté, la faim, l’inégalité et la souffrance, d’autre part.

Tout en dénonçant les inégalités qui caractérisent notre économie mondialisée, il a également mis en garde contre ce qu’il appelait la « mondialisation de l’indifférence ».

Je n’oublierai jamais sa première visite officielle en tant que pape, à une époque où j’étais Haut‑Commissaire pour les réfugiés.

En 2013, François avait choisi de se rendre sur l’île méditerranéenne de Lampedusa pour appeler l’attention du monde entier sur la situation désespérée des demandeurs d’asile et des migrants.

Il avait alors mis en garde contre « la culture du bien-être, qui nous amène à penser à nous-même, nous rend insensibles aux cris des autres ».

L’année dernière, à l’occasion de la Journée mondiale des réfugiés, il a exhorté tous les pays à « accueillir, promouvoir, accompagner et intégrer ceux qui frappent à nos portes ».

Quand je l’ai rencontré au Vatican en 2019 en ma qualité de Secrétaire général, j’ai été frappé par son humanité et son humilité.

Il voyait toujours les problèmes à travers les yeux de celles et ceux qui sont relégués aux périphéries.

Il disait qu’il ne fallait jamais détourner le regard de l’injustice et de l’inégalité, ni fermer les yeux sur celles et ceux qui subissent les conséquences d’un conflit ou d’actes de violence.

Infatigable pèlerin de la paix, le pape François s’est rendu dans des pays déchirés par la guerre – de l’Iraq au Soudan du Sud, en passant par la République démocratique du Congo – pour dénoncer la violence et les affrontements sanglants et prôner la réconciliation.

Il défendait avec conviction les innocents qui se trouvent dans des zones de guerre, comme en Ukraine et dans la bande de Gaza.

Il le faisait depuis sa tribune, mais aussi à un niveau beaucoup plus personnel.

Tous les jours sans exception, à 19 heures précises, il se retirait pour appeler l’église de la Sainte-Famille, à Gaza.

L’un de ses interlocuteurs a raconté ces conversations : « François nous demandait : “comment allez-vous ? Qu’avez-vous mangé ? Avez-vous de l’eau ? Y-a-t-il des blessés parmi vous ?” Il ne le faisait pas pour des raisons diplomatiques ou par obligation. C’était le genre de questions qu’un père aurait posées ».

Et, dans son tout dernier message, le dimanche de Pâques, le pape François a souligné à quel point il était vital de mettre fin à tous ces conflits.

Jusqu’au bout, le pape François aura incarné l’appel à la justice – pour les peuples et pour la planète.

Grâce à son encyclique Laudato Si publiée en 2015, il a contribué à l’adoption de l’Accord de Paris en appelant les dirigeants à protéger « notre maison commune ».

Il a également mis en évidence les liens manifestes entre la dégradation de l’environnement et la dégradation de la condition humaine.

Le pape François comprenait que ceux qui avaient le moins contribué à la crise climatique en subissaient les conséquences les plus graves – et que nous avons le devoir spirituel et moral d’agir.

Excellences,

Dans ce monde de division et de discorde, le fait que le pape François ait proclamé 2025 année de l’espérance revêt une signification particulière.

Il aura été jusqu’au bout un messager de l’espérance.

Et c’est à nous qu’il revient maintenant de continuer de faire vivre cette espérance.

À ses funérailles, samedi, j’ai été profondément ému de voir des dirigeants de toutes confessions et toutes tendances politiques réunis dans la solidarité pour rendre hommage à la vie et à l’œuvre du pape François, dans un esprit d’unité et de réflexion solennelle rares dont nous avons plus que jamais besoin aujourd’hui.

Notre monde serait bien meilleur si nous suivions, dans nos propres paroles et actions, l’exemple d’unité, de compassion et de compréhension mutuelle qu’il a donné tout au long de sa vie.

Que ce deuil soit l’occasion de renouveler notre engagement en faveur de la paix, de la dignité humaine et de la justice sociale, causes pour lesquelles le pape François a consacré chaque instant d’une vie pour le moins extraordinaire.

Je vous remercie.

MIL OSI Africa –

April 30, 2025
MIL-OSI USA: NEWS: Sanders, Jayapal, Dingell, Hundreds of Health Care Workers Introduce Medicare for All

US Senate News:

Source: United States Senator for Vermont – Bernie Sanders
WASHINGTON, April 29 – Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), alongside Rep. Pramila Jayapal (D-Wash.) and Rep. Debbie Dingell (D-Mich.), today introduced the Medicare for All Act. Hundreds of nurses, health care providers and workers from around the nation joined the lawmakers for a press conference in front of the Capitol.
In America today, despite spending twice as much per person on health care as other wealthy nations, more than 85 million Americans are uninsured or underinsured, one out of every four Americans cannot afford their prescription drugs, over half a million people go bankrupt due to medically-related debt, and more than 60,000 die because they cannot afford to go to a doctor.
“The American people understand, as I do, that health care is a human right, not a privilege and that we must end the international embarrassment of the United States being the only major country on earth that does not guarantee health care to all of its citizens,” said Sanders. “It is not acceptable to me, nor to the American people, that over 85 million people today are either uninsured or underinsured. Today, there are millions of people who would like to go to a doctor but cannot afford to do so. This is an outrage. In America, your health and your longevity should not be dependent on your wealth. Health care is a human right that all Americans, regardless of income, are entitled to and they deserve the best health care that our country can provide.”
“It is a travesty when 85 million people are uninsured or underinsured and millions more are drowning in medical debt in the richest nation on Earth,” said Jayapal. “We don’t suffer from scarcity in America, we suffer from greed. That’s most clear in our broken health care system, which is why we need Medicare for All. People deserve and want comprehensive health care that covers mental health, long-term care, reproductive care, dental, vision and hearing, all without copays, private insurance premiums, sky-high deductibles or other hidden fees. Health care is a human right, that is exactly why it’s time to pass Medicare for All.”
“Every American has the right to health care, period. If you’re sick, you should be able to go to the doctor without being worried about the cost of treatment or prescription medicine. Too many families must decide between putting food on the table and getting medical care that they desperately need,” said Dingell. “A health care system that ties coverage to employment will always leave patients vulnerable. It’s flat-out wrong and Medicare for All would put a stop to it. We’ve been fighting this fight since the 1940s, when my father-in-law helped author the first universal health care bill. It’s time to get this done.”
Under this legislation, Medicare would provide comprehensive health care to every American with no premiums, no co-payments and no deductibles. It would also expand Medicare to include dental, hearing, and vision care, and it would give every American the freedom to choose their doctors without endless paperwork or fighting their insurance company. The Congressional Budget Office has estimated that Medicare for All would save our health care system $650 billion a year. Further, researchers at Yale University have estimated that Medicare for All would save 68,000 lives a year.
This legislation would also create a health care system that finally puts people over profits. In fact, since 2001, the top health care companies in America spent 95 percent of their profits, $2.6 trillion, not to make Americans healthy but to make their CEOs and stockholders obscenely rich. While nearly one out of four Americans cannot afford the life-saving medicine their doctors prescribe, ten top pharma companies made $102 billion in profits in 2024. Meanwhile, the CEOs of just 4 prescription drug companies – Pfizer, Johnson & Johnson, Eli Lilly, and Merck – together made over $100 million last year.
The legislation has 104 cosponsors in the House and has 16 cosponsors in the Senate – an increase in the number of Senate cosponsors from last Congress – including Sens. Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Alex Padilla (D-Calif.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.) and Sheldon Whitehouse (D-R.I.).
“Nurses see the failure of our country’s profit-driven health care system every time we clock in to work,” said Nancy Hagans, President of National Nurses United. “In the richest country on earth, nobody should be forced to choose between taking their medications and putting food on the table. Yet countless families are pushed to the breaking point while greedy corporations charge astronomical, ludicrous fees for care that our patients have every right to receive. Nurses are fighting for a future in which our patients’ health is put first always and that’s why we are proud to continue our support for Medicare for All. When we guarantee health care for all, corporations and billionaires will no longer be able to deny anyone the care that they need.”
“We are long overdue for a universal health care system that guarantees care for all — free of copays, deductibles, and job-based coverage restrictions,” said Dr. Diljeet K. Singh, M.D., Dr.P.H., and President of Physicians for a National Health Program. “With the passage of the Medicare for All Act, physicians can focus on healing patients, not battling insurers over denials and delays. Patients will finally be able to seek care without the constant fear of crushing medical bills. Physicians for a National Health Program proudly stands with our legislators in the fight to make excellent health care a reality for everyone in America.”
“As Donald Trump, Robert Kennedy and Congressional Republicans rush to strip health care from millions of Americans, we know this: We must not only block their cruel cuts but move America to a system that provides health care to everyone as a matter of right,” said Robert Weissman, co-president of Public Citizen. “America spends much more than other wealthy countries on health care only to have the worst health outcomes. The system works for health insurers, Big Pharma, hospital chains and private equity firms – but no one else. Medicare for All would ensure everyone in America can get the care they need throughout their lives. It is the realistic, humane, just and efficient reform we need.”
“Postal workers know the value of affordable, universal services, grounded in a commitment to putting people over profits. That’s the type of service we are committed to provide communities across the country, day in and day out,” said Mark Dimondstein, President of American Postal Workers Union. “For too long, greedy corporations and their Wall Street investors have been able to deny the people of the country the quality, affordable, universal health care working people deserve. Medicare for All, health care as a human right, will make us all healthier and financially better off. A health care system that works for working people, not the profits of the insurance companies, is long overdue. It’s time for Medicare for All.”
“Health care should be a human right. But every time we negotiate with a boss for the right to see a doctor, they nickel and dime us until people have to choose between their health and putting food on the table,” said Shawn Fain, President of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW). “We’re sick of having to go on strike just to have decent health care. We’re sick of corporate America asking us to give up raises, retirement security, or work-life balance at the bargaining table so working-class people can avoid medical bankruptcy. Our current health care system is a con job that only works for the billionaire class. Medicare for All is common sense, and it’s what the working class needs. The UAW is proud to support this bill.”
“If you want to renew the public’s faith in our political system, pass the Medicare for All Act of 2025,” said Alan Minsky, Executive Director, Progressive Democrats of America. “This one piece of legislation will instantly end the era, which has lasted far too long, when profits and wealth accumulation are more important than human life, including yours. MFA will return the general welfare, and the well-being of every individual, to the heart of our social contract. That will renew faith in America.”
“Health care is a right, not a privilege. The reintroduction of the Medicare for All Act is a crucial step toward ending a system that profits from people’s pain,” said Analilia Mejia and DaMareo Cooper, Co-Executive Directors of Popular Democracy. “Too many Americans are forced to choose between paying their rent and paying for life-saving medication, while corporations rake in billions. Medicare for All isn’t just a policy—it’s the lifeline working families desperately need. Our communities deserve a health care system that prioritizes people over profits. We will fight until we win the health care we deserve.”
“Health care is a human right and a basic need. Yet instead of getting health care, Americans get delays, denials, and bills they cannot afford. Today, predatory insurance CEOs are poised to reap the windfall from the tax scam giveaways earmarked for billionaires and corporations. The oligarchs that put Donald Trump and Dr. Oz in power want everything we have. We get sicker, make impossible choices, and go broke. They boost the stock prices of corporations – like UnitedHealth – that profit off our pain, and buy more mansions and yachts. We can put an end to those warped priorities through Medicare for All,” said Sulma Arias, executive director of People’s Action Institute. “Working people have made this the wealthiest nation in the history of the world, and there is more than enough if we don’t let the corporate crooks and billionaires steal it. So it’s time to choose: Our health care or their greed?”
Read the bill text here.

MIL OSI USA News –

April 30, 2025

Date:	Friday, May 9, 2025
Time:	8:30 a.m. ET
Participant Access:	[Link Here]

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