NewzIntel.com

Category: Economy

  • MIL-OSI Global: Why Hollywood is finally taking horror films seriously

    Source: The Conversation – UK – By Reece Goodall, Director of Student Experience and Progression for the Faculty of Arts, University of Warwick

    Horror films have always held an interesting place in cultural and cinematic circles. Despite proving consistently profitable and boasting a considerable fanbase, the genre has also been the target in several moments of cultural crisis. Think the video nasties of the 1970s and 80s, or the implied conservatism of the violence in torture porn films of the 2000s.

    Though the genre has been one of the industry’s most profitable genres since the 1930s, due to its perceived low status, horror has largely been unrecognised by award bodies, mainstream critics and the gatekeepers of more “legitimate” cinema. There’s an implied sense that the genre is somewhat different from respectable film-making – that it is low status, trashy and in some cases outright nasty.

    Only seven horror films have been nominated for best picture at the Oscars since the first ceremony in 1929. Two of those nominations were in the last decade, and there was widespread conversation about the bias against the genre after Toni Collette failed to receive an Oscar nomination for her performance in the 2018 film Hereditary.

    Even then, Collette’s excellent performance was in an auteur film released by indie studio A24. Far from the more conventional forms of horror that tend to be overlooked year on year by bodies recognising the year’s achievements in film-making. However, if we leap ahead to 2025 and look at the horror films that took the past year by storm – The Substance, Nosferatu, Terrifier 3 – all forms of the genre are represented.

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    The Substance and Nosferatu could both be described as “elevated horror”, a sub-genre that focuses on negative moods rather than explicit gore (although both films certainly get bloody, especially in The Substance’s monstrous climax).

    On the other end of the scale, Terrifier 3 is particularly brutal, aligning itself more with grindhouse and slasher films and celebrating the practical effects that bring violence to the big screen. In another era, there is no doubt that Terrifier 3 would have been a target of censors and the cultural critics over its depictions of violence, with brutal deaths and the murder of several children. But in 2025, it is celebrated by genre fans and an object of serious academic interest.

    The films were all successes. Both The Substance and Nosferatu received multiple nominations at the 2025 Academy Awards. Along with Alien: Romulus, the horror genre picked up ten nominations, its best performance since 1974.

    Nosferatu was nominated for several Academy Awards.

    Elsewhere, Terrifier 3 broke records as the highest-grossing unrated film (a movie not given a rating by film censors, normally because of offensive content) of all time. Terrifier 3 never seemed likely to receive an Oscar nomination, even despite its success and a sustained and entertaining marketing campaign. Nonetheless, both fans and industry figures alike have suggested that its practical make-up effects warranted recognition.

    So why is horror becoming more widely appreciated in the 21st century? The “elevated horror” dimension is certainly one factor, presenting works that align more with the conventions of art cinema, which is essentially easier to sell as legitimate.

    Alongside this, we have the political dimension. Horror films have always been political, representing the fears and marginal identities of a particular country and time period. But in an era characterised by increased instability, pandemics, wars and all manner of social crises, the need for the genre might be more prevalent than ever.

    The terrifying trailer for Terrifier 3.

    In light of the industry’s continuing struggle with declining cinema attendance numbers, horror remains one of the rare genres that consistently draws audiences to theatr. Although films like Terrifier 3 might be looked down on by the cinema establishment, it was event cinema and widely discussed in a way that few films in the past five years have managed to be.

    Audiences have always loved horror, and in a tough period for the cinema industry, the genre continues to prove financially stable and appealing to film-goers. That the gatekeepers of the industry are tentatively starting to recognise the genre is a new development, and although it remains to be seen whether this recognition will be sustained in future years, we’re in a moment when horror of all varieties is being praised like never before.

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

    – ref. Why Hollywood is finally taking horror films seriously – https://theconversation.com/why-hollywood-is-finally-taking-horror-films-seriously-253687

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Deputy President calls for transparency, inclusivity in SA’s budget process

    Source: South Africa News Agency

    Deputy President Paul Mashatile has emphasised the importance of collaborative action and transparency in shaping South Africa’s fiscal future. 

    “We have learnt that the current budgetary process is not transparent and inclusive enough, making it difficult for citizens to understand how government goes about the process of taking some of the most critical decisions in allocation of resources, albeit limited resources because of the competing needs,” Masahtile said. 

    Speaking during a virtual address at the 2025 Budget Roundtable, held at the Financial and Fiscal Commission (FFC) offices in Cape Town, on Wednesday, the Deputy President emphasised the need to revisit the concept of a “people’s budget” advocated by anti-apartheid activists, the late Ben Turok and Joanamarrie Fubbs. 

    “What this means is that we need fiscal planning that is inclusive from the start, in terms of the Medium-Term Expenditure Framework and in line with government’s priorities,” he explained.

    “In this case, the budget process as part of fiscal planning must focus on how we address the issues of poverty, unemployment, and inequality specifically.” 

    The country’s second-in-command highlighted the necessity for the budget to reflect fairness and equity, ensuring that vulnerable sectors are not overlooked in the planning process.

    The Deputy President also stressed the critical role of the National Budget as the government’s primary tool for translating policy into action. 

    He noted the historic context of this year’s budget process, highlighting the unprecedented postponement of the Budget Speech, and the subsequent adoption of the 2025 Fiscal Framework and Revenue Proposals by the National Assembly this month. 

    The Deputy President told the attendees about the Cabinet Committee’s formation, which he chairs, tasked with addressing the contentious proposal from the Minister of Finance regarding a VAT increase. 

    The Deputy President acknowledged that, in contrast to other governments around the world that have collapsed due to fiscal disputes, South Africa successfully navigated the challenges and he believesthis underscores South Africa’s strong democracy that is functioning effectively. 

    “Government remains committed to expanding economic growth while improving the quality of life for all citizens.” 

    The Deputy President said equitable resource allocation was particularly timely as South Africa grapples with economic disparities. 

    “Public allocations should be fair, just, and available to all citizens,” he said, reinforcing the government’s commitment to serving all members of society.

    As the budgeting process continues with the looming deadlines for the Division of Revenue Bill and the Appropriation Bill in May and June, Mashatile reiterated the importance of thoughtful engagement and transparent decision-making. 

    He acknowledged the challenges of balancing competing needs, but maintained that, through diligence and collaborative effort, government can chart a path toward a more equitable socio-economic landscape.

    The Deputy President described the 2025 Budget Roundtable as a pivotal moment for shaping a more equitable future. 

    He also touched on another important task that requires fiscal planning and implementing financial strategies to achieve specific economic goals, which is often related to debt management, government spending, and tax policies. 

    This includes considering factors, such as interest rates, economic growth, and structural reforms to ensure a stable and transparent macroeconomic environment. 

    “The goal here is to create a sustainable fiscal position that supports economic growth and manages risks effectively.” – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SIU updates SCOPA on SABC investigations

    Source: South Africa News Agency

    Head of the Special Investigating Unit (SIU) Advocate Andy Mothibi says there is a need for a focussed and pointed approach to prevent fraud and corruption at the SABC.

    Mothibi was briefing Parliament’s Standing Committee on Public Accounts (SCOPA) on investigations into the public broadcaster on Wednesday.

    The investigations stem from at least two proclamations from 2010 and 2017.

    Over the past few years, the public broadcaster has been rocked by scandal, including the irregular R11 million “success fee” paid to then SABC Chief Operating Officer Hlaudi Motsoeneng, irregular expenditure running into billions of Rands, the controversial R2.4 million Legends Payments and investigations into at least eight contracts, including the sale of SABC archives to MultiChoice.

    “We…are of the view that we need a focussed approach to come up with a focussed prevention plan that will assist the corporation going forward. I have spoken to the current GCEO [Nomsa Chabeli] and we are seeking to ensure that the process gains momentum speedily.”

    The SIU, said Mothibi, wants to see an overall prevention plan implemented.

    The head of the corruption-busting unit described the investigations into the SABC as “intense” and same as the approach which was applied to investigations into other state organs.

    “We have taken the approach that we did at SABC…to do a deep dive in terms of governance investigation and maladministration at all the state institutions that we are investigating particularly the SOEs,” Mothibi said.

    During the presentation, SIU Chief National Investigations Office, Zodwa Xesibe, fleshed out some of the issues unearthed at the public broadcaster including:

    • Bypassing of existing policies and procedures by the Board and senior managers, which led to the financial woes at the SABC.
    • There was a general abuse of power at the SABC by the Board and senior managers, which promoted unethical behaviour and caused a variety of problems.
    • Controls were repetitively bypassed through management override, collusion or abuse of power between those in power, or inaction and passiveness from other officials.

    “The SABC should return to a culture that encourage honest discussions surrounding ethics and ethical challenges with one another and their managers, to allow ethical behaviour.

    “Employees should be empowered by explaining what constitutes unethical behaviour and what the result of such can be on the Corporation. They should also know what their rights are and be encouraged to report such before it becomes a widespread problem,” she said.

    Protections for whistleblowers must also be provided to “encourage employees to report problems and…foster an organisation that is ethical from top to bottom”.

    “Changes should come from the management team by identifying the negative behaviours and substituting them with positive changes. This will allow for better ethical decisions, enforcement of policies and procedures amongst employees, and role-model ethical behaviour.

    “Zero tolerance action to abuse or non-compliance with internal controls should be prioritised, as this would address the culture of abuse and management override in the SABC,” Xesibe said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SA, Lesotho deepen bilateral cooperation at Bi-National Commission

    Source: South Africa News Agency

    President Cyril Ramaphosa says South Africa and Lesotho are making strides in cooperation on water resource management. 

    The President was delivering opening remarks at the occasion of the second session of the Lesotho-South Africa Bi-National Commission (BNC). 

    He highlighted the Lesotho Highlands Water Project as a good example of how two friendly countries can collaborate to the benefit of its peoples. 

    “As neighbours, we have great scope to deepen bilateral cooperation in many areas while maintaining political and economic engagements with all countries. It is our hope that Phase 2 of this project is completed soon,” the President said. 

    President Ramaphosa commended Lesotho’s ongoing efforts to advance the political and constitutional reform agenda.

    He said the relationship between the two countries is characterised by cooperation, good neighbourliness and a mutually beneficial relationship. 

    “This BNC mechanism needs to ensure that the 45 agreements and legal instruments that have been signed are fully implemented. We assemble in this session at a time of new global challenges and uncertainties. 

    “These challenges are not insurmountable. Working together, we should identify opportunities for progress in this rapidly changing environment,” President Ramaphosa said. 

    President Ramaphosa called for South Africa and Lesotho to work together in electricity generation and align both countries’ just energy transition agendas and projects. 

    “Energy security is critical for our two countries. It will play a major role in driving our manufacturing industries, powering our cities, towns and villages and enabling us to adapt to the demands of the new global economy. 

    “We need to redouble our efforts to establish bilateral and regional value chains that are sustainable and economically viable,” he said. 

    The President emphasised that both countries are endowed with mineral resources and must and must prioritise local beneficiation to maximize value.

    He underscored the need to develop strategies within the jurisdictions for critical and rare minerals, which continue to attract global interest.

    Simultaneously, he highlighted the importance of diversifying both countries’ product offerings and service sectors to drive sustainable economic growth.

    In this regard, President Ramaphosa said the establishment of logistics hubs, agro-processing facilities and data centres to support the emerging digital industry, are some of the opportunities that South Africa and Lesotho should harness. 

    “Lesotho hosts many South African companies and we appreciate the conducive environment in which these corporate entities operate. Investments by Basotho companies in the South African economy need to be further promoted.

    “We need to work together to harmonise measures for the movement of our respective citizens across our borders,” the President said. 

    Touching on immigration cooperation, President Ramaphosa said this can be strengthened in a manner that is effective and secure. 

    He called for both countries to address cross-border criminal activities that undermine the harmonious co-existence that both countries and peoples enjoy. 

    “Our respective authorities should remain seized with the threats posed by global organised crime, which fuels illegal mining, drug and human trafficking, arms smuggling, wildlife destruction, illicit financial flows and money laundering,” he said. 

    Moving to education, President Ramaphosa said cooperation in education is fundamental to the two countries’ shared future. 

    “We should make it easy for young Basotho pupils, who live a stone’s throw away from schools on the South African side, to be able to go to school. While this needs to be properly managed, bureaucratic impediments should not prevent the development of these young minds. 

    “South African institutions of higher learning host many Basotho students, who provide the skills and capacity needed by the Kingdom of Lesotho,” the President said. 

    President Ramaphosa recalled that during the days of apartheid,  children of exiled activists and young adults attended schools and institutions of learning in Lesotho. 

    He added that many of South African leaders attended the National University of Lesotho, famously known as Roma. 

    “It is therefore only fitting and proper that we enhance cooperation in the field of education. As South Africa undertook its transition to democracy and was grappling with the process of constitution making and state building, Lesotho was there to support us.

    “Now, as the Kingdom of Lesotho makes progress in its institutional reforms, we stand ready to share our experiences in areas such as strengthening the constitutional architecture, security sector reform, judicial capacity building and other areas of institutional development,” the President said. 

    He added that the two countries’ common heritage and shared destiny require that “we be united in purpose and work towards the upliftment of our peoples.” 

    “Let us work together as peace-loving nations – within SADC (Southern African Development Community), the African Union and the United Nations – to pursue a just global order founded on multilateralism, human rights and respect for international law. 

    “Let us strive together to reform global institutions so that they are inclusive and advance the interests of the Global South,” he said. 

    As the two heads of state opened the Session, President Ramaphosa applauded the Ministers and Senior Officials for their hard work, focus and commitment in preparing the report of this Commission. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: VAT hikes can raise tax without hurting the poor: an economist sets out the evidence

    Source: The Conversation – Africa – By Imraan Valodia, Pro Vice-Chancellor, Climate, Sustainability and Inequality and Director, Southern Centre for Inequality Studies, University of the Witwatersrand

    South Africa’s 2025-6 budget has been subjected to more comment than usual. This is due to the political tensions generated by a proposed increase in value added tax (VAT).

    South Africa’s choices on how it manages the revenue and expenditure issues in the budget are critical for how the larger issues of the country’s debt and its economic policies are handled. As things stand, the economy is locked into a low-growth trajectory which make the debt, revenue and expenditure issues more difficult to deal with.

    This piece draws on a longer article which explores these issues in greater detail. Here, I focus only on the VAT issue.

    The finance minister originally tabled an increase of 2 percentage points, then changed it to 0.5 percentage points. Still, it is threatening to end the country’s government of national unity, which was set up after elections in 2024.

    Read more: South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Most commentators, including the political parties that have opposed the proposal, many academics, and non-governmental organisations claiming to represent low-income groups, have argued that an increase in VAT places an undue burden on low-income groups. This would make it regressive.

    Based on work as an academic economist over the past three decades, I believe that the debate has been based largely on conjecture and ideological opposition to VAT, rather than on the evidence of its impact.

    This is a pity as there is empirical evidence rooted in research that a VAT increase is, in fact, not regressive and is therefore a good policy decision.

    Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration – for evaluating tax policy proposals. New taxes should ideally promote equity (they should be progressive and not regressive), be efficient and be easy to administer.

    An increase in VAT in South Africa ticks all these boxes.

    First, contrary to what many commentators have been arguing, VAT isn’t always regressive – it depends on how it’s implemented. As proposed by the finance minister it would not be regressive because, while it would add to the burden of low-income households, most of the VAT would be collected from higher-income households. Added to this is that the proposed expansion of the existing list of zero-rated items would protect the lowest-income households.

    Second, VAT is a very efficient tax. For relatively low increases in the rate, government is able to raise a large amount of revenue.

    Finally, the system is easy to administer and adds very little cost to collection.

    Key to its efficacy is the way VAT is implemented, including the choice of products to zero rate, and the political credibility of government.

    The case for a VAT increase

    VAT is a consumption tax, so it only affects the income that a household consumes.

    According to the International Monetary Fund (IMF), VAT is now the mainstay of tax systems in over 160 countries, raising on average one-third of total government revenues.

    In theory, there are good reasons to be concerned about the impact of VAT. First, it can place a high burden on low-income households because they spend a large proportion of their incomes on consumption goods such as food.

    Second, VAT may also place a heavy burden of tax on women. In South Africa and many other countries, women-led households tend to be clustered in the lower end of the income distribution. And women disproportionately take responsibility for feeding and caring for family members.

    So, at least in theory, VAT is a regressive tax. But is it really so in practice?

    Three studies that have explored this issue in some detail have concluded that, in South Africa, VAT is not regressive.

    In 2008, I worked with colleagues in eight countries (South Africa, Ghana, Uganda, Morocco, Mexico, Argentina, India and the United Kingdom) on the gender issues related to tax. In particular we looked at the burden of VAT on low-income and women-headed households.

    Our findings were that, in general, VAT is regressive and discriminates against women, but it depends on how it is implemented.

    In South Africa, the zero-rating of basic consumption goods is very effective, protecting low-income and female-headed households from VAT. It’s an example of a VAT system that is neutral – neither regressive nor progressive.

    A more recent study by South African economist Ingrid Woolard and colleagues reached a similar conclusion in 2018.

    A third study was done in the same year when VAT was increased from 14% to 15%. Following a similar emotive debate, the finance minister appointed an independent committee which I served on and which was chaired by Woolard, to advise on further zero-rating.

    Our conclusion – again – was that zero-rating is highly effective at protecting low-income groups from the deleterious effects of VAT.

    How it’s done matters

    The challenge with zero-rating is that while low-income households benefit, high-income households benefit more (because they spend more, in absolute terms, on zero-rated goods). Large amounts of potential VAT revenue are lost to high-income groups that don’t need protection.

    The trick is to find a basket of goods that low-income households consume a lot of, but which high-income households don’t consume in large quantities. Some typical examples are beans, canned pilchards and cabbage. These are all goods that low-income households consume and high-income households do not.

    National Treasury’s proposals for increasing the basket of goods to be zero-rated are based on solid research.

    A good example of the trade-offs to consider is the case of chicken. Chicken is an important source of protein for low-income households, but also for high-income households. So, if all chicken were zero-rated, this would protect poor households, but a large amount of VAT revenue would be lost.

    In our 2018 zero-rating report, at 2018 prices and consumption patterns, we calculated that zero-rating all chicken products would be equivalent to R1.3 billion (US$67.6 million) but government would lose R4.6 billion (US$244.4 million) to high income households.

    Not a good trade-off.

    However, some chicken products, such as chicken heads and feet, are mostly consumed by low-income groups, and are therefore good candidates for zero-rating.

    The two other Es – efficiency and ease of administration – of taxes are also key to consider.

    On these two considerations, VAT has big advantages.

    It’s very difficult to avoid or evade VAT because it’s collected along the chain of production. There’s evidence that South Africa has very little leakage in the system.

    So it is relatively easy to increase the VAT rate without needing to invest additional resources to collect the tax.

    Credibility is key

    Apart from the economic considerations, tax policy has to be politically credible. People should believe that their tax contributions are being used effectively, and government should be seen to be acting in line with this.

    If people don’t believe in government’s ability to spend wisely, resistance to taxes increases. Then tax avoidance and evasion increases.

    It would be fair to say that, with the high levels of corruption in South Africa’s political system, government’s credibility is low.

    Thus, if VAT is to be increased, government has to do a lot more to improve its credibility and reassure South Africans that the tax revenues will be well spent.

    – VAT hikes can raise tax without hurting the poor: an economist sets out the evidence
    – https://theconversation.com/vat-hikes-can-raise-tax-without-hurting-the-poor-an-economist-sets-out-the-evidence-254213

    MIL OSI Africa –

  • MIL-OSI USA: Welch Joins Schiff, Reed, Lawmakers Call on Trump Administration to Reverse Plans to Defund Libraries and Museums

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    “The consequences of eliminating IMLS will be devastating for states, local communities, and the millions of Americans who rely on these institutions every day.”
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) joined U.S. Senators Adam Schiff (D-Calif.), Jack Reed (D-R.I.) and 23 lawmakers in writing to the Acting Director of the Institute of Museum and Library Services (IMLS) about serious concerns regarding President Trump’s call to eliminate IMLS which was created by a Republican-led Congress in 1996 and is the only federal agency dedicated to supporting the nation’s libraries and museums. In the letter, the Senators call on the Administration to ensure there is continued funding in accordance with federal law for libraries and museums and to reverse any actions that jeopardize their provision of critical services on which many communities rely on. 
    “The consequences of eliminating IMLS will be devastating for states, local communities, and the millions of Americans who rely on these institutions every day. These institutions are critical pillars of educational opportunity, cultural preservation, civic engagement, and economic development in our communities,” wrote the lawmakers.  
    “We urge you to uphold the law, immediately disburse all LSTA grant funding to our states, including California, Connecticut and Washington, and reverse any actions that jeopardize the future of the libraries and museums our communities rely on,” the lawmakers concluded.  
    Libraries serve as essential lifelines for families, students, and workers throughout California providing literacy programs, access to technology, job training, small business support, and more. 
    This letter is also signed by U.S. Senators Alex Padilla (D-Calif.), Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), Kristen Gillibrand (D-N.Y.), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Jacky Rosen (D-Nev.), and Bernie Sanders (I-Vt.). In the U.S. House of Representatives, this letter is signed by Representatives Eric Swalwell (D-Calif.-15), Julia Brownley (D-Calif.-26), Scott Peters (D-Calif.-50), Jim Costa (D-Calif.-21), Raul Ruiz (D-Calif.-25), Juan Vargas (D-Calif.-52), Mark Takano (D-Calif.-39), George Whitesides (D-Calif.-27), Mike Thompson (D-Calif.-04), Norma Torres (D-Calif.-35), Jimmy Gomez (D-Calif.-34), J. Luis Correa (D-Calif.-46), Salud Carbajal (D-Calif.-24) Nanette Barragan (D-Calif.-44) and Zoe Lofgren (D-Calif.-18). 
    The full text of the letter is available here and below.   
    Dear Mr. Sonderling,
    We write to express our serious concerns regarding President Trump’s call to eliminate the Institute of Museum and Library Services (IMLS), the only federal agency dedicated to supporting the nation’s libraries and museums. On March 14, 2025 President Trump issued the Executive Order “Continuing the Reduction of the Federal Bureaucracy” which includes IMLS to be eliminated “to the maximum extent consistent with applicable law” and for IMLS to submit a report to the Office of Management and Budget (OMB) to confirm compliance. We are reminding the Administration of its obligation to fully execute the law as authorized by Congress under the Museum and Library Services Act (MLSA) of 2018 (PL 115-40), as signed by President Trump. Beginning on April 3, 2025, several grantees— including the states of California, Connecticut and Washington— received written notice from IMLS that their federal Fiscal Year 2024–25 grants under the Library Services and Technology Act (LSTA) had been terminated. We strongly urge the Administration to reverse these terminations and ensure continued funding in accordance with federal law.
    For Fiscal Year 2024, Congress appropriated $294.8 million for IMLS, specifying funding should be allotted across the programs in the following manner:
    Library Services Technology Act
    Grants to States                                                                                            $180,000,000
    Native American Library Services                                                             $5,763,000
    National Leadership: Libraries                                                                  $15,287,000
    Laura Bush 21st Century Librarian                                                            $10,000,000
    Museum Services Act
    Museums for America                                                                                 $30,330,000      
    Native American/Native Hawaiian Museum Services                           $3,772,000
    National Leadership: Museums                                                                 $9,348,000
    African American History and Culture Act                                                $6,000,000
    National Museum of the American Latino Act                                         $6,000,000
    Research, Analysis, and Data Collection                                                   $5,650,000
    Program Administration                                  $22,650,000
    We expect the Administration to fully implement the Full-Year Continuing Appropriations and Extensions Act of 2025 consistent with the Fiscal Year 2024 allocations. We also urge the Administration to allow IMLS to continue to engage with and support libraries and museums as Congress intended and as authorized in the MLSA, including maintaining the expertise of the IMLS staff to carry out the functions of the agency.
    Libraries and museums are deeply embedded in local communities across the country and millions of Americans rely on their services and programs, particularly the most rural and underserved areas. In 2024, IMLS funding reached 140,000 libraries and museums across all 50 states and U.S. territories. Public, school, academic, and specialty libraries provide a wide range of local services such as summer reading programs for youth, high-speed internet, workforce training, and support for small businesses. Libraries are especially vital for low-income families, students, and workers who depend on them for free access to technology, educational resources, and job search support. In California, local libraries serve as critical lifelines for families experiencing homelessness and those displaced by natural disasters, offering space for community gathering and access to emergency information. Every year, more than 1.2 billion people visit libraries in-person—and they are deeply valued by the American public.
    Museums serve as crucial sources of information for history, art, science, and culture and have broad public support. In fact, 96 percent of surveyed Americans believe lawmakers should support museums. Museums support more than 726,000 American jobs and contribute $50 billion to the U.S. economy every year. Beyond their cultural significance, museums play a vital role in education, offering hands-on learning opportunities for students of all ages and providing resources that supplement school curricula, especially in underserved communities. For states like California, Connecticut, and Washington, museums are essential pillars of local identity, tourism, and community development.
    The consequences of eliminating IMLS will be devastating for states, local communities, and the millions of Americans who rely on these institutions every day. These institutions are critical pillars of educational opportunity, cultural preservation, civic engagement, and economic development in our communities.
    As such, please provide us with a written response to the questions below no later than May 1, 2025.
    How many IMLS employees have been fired, put on administrative leave, accepted the deferred resignation program offer, or accepted the Voluntary Early Retirement Authority or Voluntary Separation Incentive Payment offer since January 20, 2025?  Please provide the number of employees in each category.
    How many individuals are currently employed at the agency?  Please provide their titles and duties.
    How many of these employees were responsible for, or assisted in, administering grants?
    Which officials at IMLS were involved in the staffing reduction decisions and what planning, if any, was undertaken prior to these reductions?
    What factors are being used to determine the cancellation of grants, including the Grants to States funding?
    Please provide a full list of cancelled grants, including the date of cancellation, type of grant, and dollar amount.
    Please share what the agency’s “updated priorities” are and how grants are being assessed for alignment and plans for grant competitions in Fiscal Year 25.
    Which officials at IMLS are involved in developing the report to the Director of OMB?
    What are such officials’ expertise in IMLS administration and the Museum and Library Services Act statute?
    Please share with Congress the report detailing the functions of IMLS and what is statutorily required and to what extent.
    Museums and libraries are the cornerstone of our society that serve as protected spaces for people to learn, engage with their community, and build curiosity. We urge you to uphold the law, immediately disburse all awarded LSTA grant funding to our states, including California, Connecticut and Washington, and reverse any actions that jeopardize the future of the libraries and museums our communities rely on.

    MIL OSI USA News –

  • MIL-OSI: LPL Welcomes Synergy Wealth Strategies

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

    Related

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

    About LPL Financial

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

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

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

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

    *Value approximated as reported to LPL

    Media Contact: 
    Media.relations@LPLFinancial.com 

    Tracking #723134

    The MIL Network –

  • MIL-OSI: EY US Unveils Balaji Sreenivasan of Aurigo Software as an Entrepreneur Of The Year® 2025 Finalist

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 23, 2025 (GLOBE NEWSWIRE) — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year® 2025 Gulf South Award. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most groundbreaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow.

    The Gulf South program celebrates entrepreneurs from Central and South Texas, Louisiana, and Mississippi. An independent panel of judges selected Balaji Sreenivasan for his entrepreneurial spirit, purpose, growth, and lasting impact in building long-term value.

    “Building Aurigo has been one of the greatest joys of my life. Entrepreneurship, to me, is about solving meaningful problems and creating something that lasts. We’re building AI-powered software that’s transforming how the world plans and delivers infrastructure, and I’m grateful every day to work with such a brilliant, passionate team. This recognition is really a reflection of our team and what we’ve built together.”

    — Balaji Sreenivasan, Founder and CEO, Aurigo Software Technologies Inc.

    Aurigo Software is a leading AI-powered software company that helps infrastructure and facility owners around the world plan and build better. With a vision to build a better tomorrow, Aurigo’s platform supports some of the largest capital improvement and infrastructure programs globally, transforming how critical assets are managed, delivered, and optimized.

    Entrepreneur Of The Year honors business leaders for their ingenuity, courage, and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

    Regional award winners will be announced on June 12 during a special celebration in Houston and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the National judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies.

    Sponsors
    Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh McLennan Agency, and SAP. In the Gulf South, sponsors also include Platinum sponsors ADP, DFIN, DLA Piper, and VCFO and Silver sponsors Big Picture and Pierpont Communications.

    About Entrepreneur Of The Year
    Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally.

    The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November, where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit www.ey.com/us/eoy.

    About EY
    EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

    Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

    EY teams work across a full spectrum of services in assurance, consulting, tax, strategy, and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network, and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

    All in to shape the future with confidence.

    EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit www.ey.com.

    About Aurigo Software
    Aurigo builds software that helps build the world. Aurigo provides modern, cloud-based solutions for capital infrastructure and private owners to help them plan with confidence and build with quality. With more than $450 billion of capital programs under management, Aurigo’s solutions are trusted by over 300 customers in transportation, water and utilities, healthcare, higher education, and the government, with over 40,000 projects across North America. Aurigo helps capital program executives make better decisions based on proprietary artificial intelligence and machine learning technology. Aurigo is a privately held U.S. corporation headquartered in Austin, Texas, with global offices in Canada and India. Learn more at www.aurigo.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be9703fc-711e-48cb-a5d5-8ea80e2a73de

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

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

    About Human Interest

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

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

    Media Contacts
    press@humaninterest.com

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


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

    2Natixis Global Survey of Financial Professionals, 2024

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

    The MIL Network –

  • MIL-OSI: Willis Lease Finance Corporation Fuels Teesside’s Economic Takeoff with Bold Expansion Investment Starting with Construction of a State of the Art Two-Bay Narrowbody Maintenance Hangar

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., April 23, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) the leading lessor of commercial aircraft engines and global provider of aviation services, is pleased to announce its subsidiary, Willis Aviation Services Limited (“WASL”), a leading aircraft maintenance, repair and overhaul (“MRO”) provider, has commenced construction of an additional two-bay narrowbody hangar at its growing operations at Teesside International Airport (“Teesside”) in Northeastern England. The new hangar will be equipped for 737 and A320 family aircraft, including new-generation models.

    Demand for aircraft heavy maintenance is exceptionally high, with global and European capacity falling short. Airlines must plan ahead to secure maintenance slots, as most MROs are at full capacity, making last-minute bookings difficult. The Company’s expansion plans add capacity to the UK’s MRO sector, addressing this industry gap. The new facility is expected to create a significant number of new highly-skilled jobs at Teesside. In partnership with local universities and colleges, WASL has laid the groundwork to launch training programs for new mechanics and apprentices, creating a sustainable pipeline of talent that supports both immediate operational needs and long-term skill development in the region.

    “We made a promise to create several hundred jobs in Northeast England, and we are proud to be delivering on that commitment. We are following through on our pledge to establish and expand our services in this region and beyond. Our integrated services businesses support third-party customers, as well as the Company’s owned and managed assets, driving meaningful growth and opportunity in the communities we serve,” said Austin C. Willis, Chief Executive Officer of WLFC.

    Willis Lease Finance Corporation
    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

     CONTACT: Lynn Mailliard Kohler
      Director, Global Corporate Communications
      (415) 328-4798

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

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

    About Sprout Social

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

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “can,” “continue,” “could,” “enables,” “estimate,” “expect,” “explore,” “intend,” “long-term model,” “may,” “might” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “strategy,” “target,” “will,” “would,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. These statements may relate to the success, performance, and effect on our business and customers of our product features, our market size and growth strategy, our estimated and projected costs, margins, revenue, expenditures and customer and financial growth rates, our plans and objectives for future operations, growth, initiatives or strategies. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the forward-looking statements. These assumptions, uncertainties and risks include that, among others: we may not be able to sustain our revenue and customer growth rate in the future; price increases have and may continue to negatively impact demand for our products, customer acquisition and retention and reduce the total number of customers or customer additions; our business would be harmed by any significant interruptions, delays or outages in services from our platform, our API providers, or certain social media platforms; if we are unable to attract potential customers through unpaid channels, convert this traffic to free trials or convert free trials to paid subscriptions, our business and results of operations may be adversely affected; we may be unable to successfully enter new markets, manage our international expansion and comply with any applicable international laws and regulations; we may be unable to integrate acquired businesses or technologies successfully or achieve the expected benefits of such acquisitions and investments; unstable market and economic conditions, such as recession risks, effects of inflation, labor shortages, supply chain issues, high interest rates, and the impacts of current and potential future bank failures and impacts of ongoing overseas conflicts, could adversely impact our business and that of our existing and prospective customers, which may result in reduced demand for our products; we may not be able to generate sufficient cash to service our indebtedness; covenants in our credit agreement may restrict our operations, and if we do not effectively manage our business to comply with these covenants, our financial condition could be adversely impacted; any cybersecurity-related attack, significant data breach or disruption of the information technology systems or networks on which we rely could negatively affect our business; and changing regulations relating to privacy, information security and data protection could increase our costs, affect or limit how we collect and use personal information and harm our brand. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 23, 2024, as well as any future reports that we file with the SEC. Moreover, you should interpret many of the risks identified in those reports as being heightened as a result of the current instability in market and economic conditions. Forward-looking statements speak only as of the date the statements are made and are based on information available to Sprout Social at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Sprout Social assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    The MIL Network –

  • MIL-OSI: Presidio Exceeds $1 Billion in AWS Marketplace Sales

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — Presidio, a leading technology services and solutions provider, today announced it eclipsed $1 billion in AWS Marketplace sales. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software and IT solutions. Presidio is among the first to announce this milestone, largely fueled by its consultative approach.

    Presidio features a complete lifecycle of services and custom solutions, and resells thousands of products in the AWS Marketplace through Channel Partner Private Offers (CPPO). They offer consulting on purchasing options for spending commitments at no additional cost. In addition to the ability to benefit from transacting in AWS Marketplace, Presidio customers now have access to Presidio Evolve, a full lifecycle licensing contract and support optimization program. Evolve aligns clients’ technology strategy to business goals. It simplifies licensing and maintenance contracts by aligning their spending to the right licensing construct, analyzing license usage and entitlements, building the right financial structure, and supporting clients post-sale. Currently, Presidio manages more than $5.5 billion in contracts and saves clients millions of dollars annually.

    By making their solutions available in AWS Marketplace, as well as multiple resell offerings, Presidio provides clients direct access to their comprehensive portfolio of products and services as well as a team of procurement experts to help maximize incentives, optimize spending, and overall technology procurement strategies.

    “At SiriusXM we greatly value the service provided by Presidio through the use of the AWS CPPO and Marketplace programs. Their expert advice has been critical in aligning with our PPA/EDP goals, making our technology spending more efficient and streamlined and enhancing our ability to manage and optimize our software investments,” said Anthony Logan, FinOps & Partnerships, SiriusXM.

    “What’s different about working with Presidio is that we aim to be our clients’ trusted advisor for strategic procurement, helping them get the maximum value out of their AWS Marketplace transactions. Plus, we are a resource for navigating changes as they happen. We use AWS Marketplace to combine custom marketplace listings, private offers, as well as Presidio financing, ongoing support, and contract evaluation to help them optimize their spend commitments and savings opportunities,” said Kevin Corace, vice president of sales, enterprise licensing and business development at Presidio.

    Presidio recently signed an expanded multi-year strategic collaboration agreement with AWS to provide Presidio’s full suite of consulting services with AWS technologies with an emphasis on helping Presidio clients migrate, modernize, and optimize their data and applications to better leverage new technologies such as generative artificial intelligence (AI) and machine learning (ML). Presidio is an AWS Premier Tier Services Partner within the AWS Partner Network (APN), continually adding to its six AWS Competencies and nearly 450 AWS certifications across the DevOps, solution architecture, security, big data, and systems operations disciplines to build, deploy and manage complex cloud architectures.

    About Presidio

    At Presidio, speed and quality meet technology and innovation. Presidio is a trusted ally for organizations across industries with a decades-long history of building traditional IT foundations and deep expertise in AI and automation, security, networking, digital transformation, and cloud computing. Presidio fills gaps, removes hurdles, optimizes costs, and reduces risk. Presidio’s expert technical team develops custom applications, provides managed services, enables actionable data insights, and builds forward-thinking solutions that drive strategic outcomes for clients globally. For more information, visit www.presidio.com.

    Contacts:

    Press: PR@Presidio.com

    Investor Relations: Investors@presidio.com

    The MIL Network –

  • MIL-OSI: Usio to Host First Quarter 2025 Conference Call to Discuss Results and Provide Company Update on May 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN ANTONIO, April 23, 2025 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq:USIO), a leading provider of integrated, cloud-based electronic payment and embedded financial solutions, today announced it will release first quarter 2025 financial results for the period ended March 31, 2025, after the market closes on Wednesday, May 14, 2025.

    Usio’s management will host a conference call the same day, May 14, 2025, beginning at 4:30 p.m. Eastern time to review financial results and provide a business update. Following management’s formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should call 1-844-883-3890. International callers should call 1-412-317-9246. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company’s website at usio.com/events/.

    A replay of the call will be available approximately one hour after the end of the call through May 28, 2025. The replay can be accessed via the Company’s website or by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international). The replay conference playback code is: 3107685.

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

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

    FORWARD-LOOKING STATEMENTS DISCLAIMER

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

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

    The MIL Network –

  • MIL-OSI: Decisions of Sampo plc’s Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 23 April 2025 at 4:05 pm EEST


    Decisions of Sampo plc’s Annual General Meeting

    The Annual General Meeting of Sampo plc, held today on 23 April 2025, approved all the proposals made to the Annual General Meeting (AGM) by the Board of Directors and its Committees, including distribution of dividend of EUR 0.34 per share for 2024.

    The AGM adopted the financial accounts for 2024 and discharged the members of the Board of Directors and CEO from liability for the financial year ending 31 December 2024. The AGM authorised the Board of Directors to decide on share repurchases.

    Including proxy representatives, there were altogether 1,746,933,448 shares (64.91 per cent of all shares) and 1,750,933,448 votes (64.96 per cent of all votes) in the company represented at the AGM.

    Dividend payment

    The AGM decided to distribute a dividend of EUR 0.34 per share for 2024. The dividend will be paid to the shareholders registered in the company’s shareholders register maintained by Euroclear Finland Oy or VP Securities A/S in Denmark, and to the holders of the Swedish depository receipts (SDRs) registered in the securities depository and settlement register maintained by Euroclear Sweden AB, as at the record date of 25 April 2025.

    The dividend will be paid to the shareholders and holders of the share entitlements on 6 May 2025 and to the SDR holders on 8 May 2025.

    Election and remuneration of the Board members

    The number of Board members was decreased by one to eight members. Christian Clausen, Steve Langan, Risto Murto, Antti Mäkinen, Markus Rauramo, Astrid Stange and Annica Witschard were re-elected for a term continuing until the close of the next Annual General Meeting. Sara Mella was elected as a new member to the Board. Of the previous members, Georg Ehrnrooth and Jannica Fagerholm were not available for re-election.

    At its organisational meeting, the Board elected Antti Mäkinen as Chair and Risto Murto as Vice Chair.

    All Board members have been determined to be independent of the Company and its major shareholders under the rules of the Finnish Corporate Governance Code 2025. The CVs of the Board members are available at www.sampo.com/board.

    The AGM decided on the following annual fees to the members of the Board of Directors until the close of the next AGM:

    • EUR 243,000 for the Chair of the Board (prev. EUR 235,000);
    • EUR 140,000 for the Vice Chair of the Board (prev. EUR 135,000);
    • EUR 108,000 for each member of the Board (prev. EUR 104,000);
    • EUR 30,000 for the Chair of the Audit Committee as an additional annual fee (prev. EUR 29,000); and
    • EUR 6,800 for each member of the Audit Committee as an additional annual fee (prev. EUR 6,600).

    A Board member must acquire Sampo plc A shares at the price paid in public trading with 50 per cent of his/her annual fee after the deduction of taxes, payments and potential statutory social and pension costs. Notwithstanding this, a Board member is not required to purchase any additional Sampo plc A shares if the Board member owns such amount of said shares that their value is equivalent to twice the respective Board member’s gross annual fee. The Company will pay any possible transfer tax related to the acquisition of the shares.

    Election and remuneration of the auditor and of the Sustainability Reporting Assurer Provider

    The Authorised Public Accountant Firm and Authorised Sustainability Audit Firm Deloitte Ltd was re-elected as the Company’s auditor and Sustainability Reporting Assurance Provider for the financial year 2025. APA ASA Jukka Vattulainen will continue as the auditor with principal responsibility and the principal authorised sustainability auditor. Company’s Auditor and the Sustainability Reporting Assurance Provider will be paid compensation against invoices approved by the Company.

    Remuneration Report for Governing Bodies

    Sampo’s Remuneration Report for Governing Bodies was adopted through an advisory resolution.

    Authorisation on share repurchases

    The AGM authorised the Board to resolve to repurchase, on one or several occasions, a maximum of 250,000,000 Sampo plc A shares. The maximum number of shares represents approximately 9.29 per cent of all outstanding A shares of the company. The repurchased shares will be cancelled.

    The authorisation will be valid until the close of the next AGM, however, no longer than 18 months from the AGM’s decision.

    AGM materials

    The proposals approved by the AGM are available in their entirety at Sampo’s website at www.sampo.com/agm. The Remuneration Report for Governing Bodies is available at www.sampo.com/year2024.

    The minutes of the Annual General Meeting will be available for viewing at www.sampo.com/agm and at Sampo plc’s head office at Fabianinkatu 27, Helsinki, Finland, by the end of 7 May 2025.

    SAMPO PLC

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Maria Silander
    Communications Manager, Media Relations
    tel. +358 10 516 0031

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    FIN-FSA
    The principal media
    www.sampo.com

    The MIL Network –

  • MIL-OSI: Amplify Announces Intention to Further Adjourn Special Meeting of Stockholders

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 23, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today announced that it intends to open and immediately adjourn its reconvened Special Meeting of Stockholders (the “Special Meeting”) relating to the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. There will be no voting or other matters conducted at the meeting on April 23, 2025, and the Company intends to reconvene the Special Meeting on May 1, 2025 at 8:00 a.m. Central Time (and the adjourned meeting will be held virtually via the internet at www.cesonlineservices.com/ampysm_vm). The record date for the Special Meeting, March 3, 2025, is unchanged and applies to the reconvened Special Meeting.

    The Special Meeting will be adjourned to allow for further time to solicit proxies from the Company’s stockholders and provide stockholders with additional time to vote in order to facilitate broader participation.

    In order to virtually attend the Special Meeting, you must register in advance at www.cesonlineservices.com/ampysm_vm prior to April 30, 2025 at 8:00 a.m. Central Time. Please note, if you previously registered for the Special Meeting, you do not need to register again. You will not be able to attend the Special Meeting physically in person. Stockholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the reconvened Special Meeting. For stockholders who have not yet cast their votes, we urge them to vote their shares now, so they can be tabulated prior to the reconvened Special Meeting. For more information on how to vote, please call the Company’s proxy solicitor, Sodali & Co, on their toll-free number (800) 662-5200 or email AMPY@investor.sodali.com.

    The Company’s Board of Directors unanimously recommends that you vote FOR the proposals identified in the Company’s definitive proxy statement for the Special Meeting.

    About Amplify Energy
    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Forward-Looking Statements
    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected timing of the adjourned Special Meeting. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.
    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.
    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com  

    Sodali & Co.

    Michael Verrechia / Eric Kamback / Christopher Rice
    (800) 662-5200
    AMPY@investor.sodali.com  

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network –

  • MIL-OSI: ACNB Corporation Announces Second Quarter Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    GETTYSBURG, Pa., April 23, 2025 (GLOBE NEWSWIRE) — ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.34 per share of ACNB Corporation common stock payable on June 13, 2025, to shareholders of record as of May 30, 2025. This per share amount reflects a 6.25% increase over the $0.32 per share paid in the first quarter of 2025.

    “The ACNB Board of Directors’ dividend declaration of $0.34 per share furthers our commitment to delivering shareholder value, and continues ACNB’s longstanding history of rewarding its shareholders with quarterly cash dividends for decades,” said James P. Helt, ACNB Corporation President & Chief Executive Officer. “The Board’s decision to increase the quarterly dividend represents our confidence in ACNB’s financial strength and long-term growth and profitability prospects. Notably, this is the fifth consecutive calendar year in which ACNB has increased the quarterly cash dividend amount. Since 2017, we have increased our quarterly cash dividend by 70%, from $0.20 to $0.34 per share.”
    ACNB Corporation, headquartered in Gettysburg, PA, is the independent $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 33 community banking offices and one loan office located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, MD and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

    FORWARD-LOOKING STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

    ACNB #2025-9
    April 23, 2025

    Contact: Kevin J. Hayes
      SVP/General Counsel,
      Secretary & Chief
      Governance Officer
      717.339.5161
      khayes@acnb.com

     

    The MIL Network –

  • MIL-OSI: CETY Announces $400K in Heat Recovery System Sales and Enhancement of Its 350 kW ORC System to Support Larger-Scale Applications

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, CA., April 23, 2025 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (Nasdaq: CETY) (the “Company” or “CETY”), a clean energy technology company offering power generation, waste to energy, and heat to power solutions to deliver affordable, scalable, and eco-friendly energy, clean fuels, and alternative electricity for a sustainable future, is pleased to announce a strategic agreement with Sagacity, a new company specializing in advanced design, manufacturing, and system integration, with a strong focus on clean energy and distribution.

    This milestone agreement secures $400,000 in sales of CETY’s magnetic bearing Organic Rankine Cycle (ORC) heat recovery solutions and should accelerate the development of an advanced 350 kW magnetic bearing ORC system designed to scale clean energy generation for large industrial and commercial applications.

    This collaboration strengthens CETY’s robust supply chain, enabling the efficient manufacturing and distribution of its proprietary Clean Cycle II (CCII) ORC system while advancing next-generation ORC technologies tailored for energy-intensive industries. By optimizing production and leveraging economies of scale, CETY can drive cost reductions and operational efficiencies across the clean energy sector.

    The new 350 kW ORC system, currently under development, represents a significant leap forward in heat recovery innovation. Engineered for scalability and reliability, this new system should support new opportunities for clean energy deployment across Biomass, Oil & Gas, Data Centers, Small-to-Midsize Power Plants, and other high-demand sectors. By increasing energy efficiency and lowering operational costs, this breakthrough technology further underscores CETY’s role as a growing leader in global decarbonization efforts.

    Kam Mahdi, CEO of Clean Energy Technologies, commented:

    “This agreement with Sagacity is more than a sales milestone; it’s a catalyst for scaling our ORC technology to serve larger and more complex energy needs. By expanding our manufacturing and distribution capabilities, we are enhancing supply chain resilience, reducing costs, and accelerating the commercialization of waste heat recovery solutions to drive efficiency, sustainability, and long-term value for industries worldwide.”

    The initial sales under this agreement include the delivery of Clean Cycle II ORC units, essential system components, and engineering support to facilitate seamless integration into key markets. As CETY and Sagacity continue to collaborate, their focus will remain on advancing ORC technology to maximize energy recovery, improve affordability, lower cost, and reinforce the transition to sustainable power generation.

    With this agreement, CETY is not only securing revenue but also positioning itself for long-term scalability, cost-effective deployment, and global adoption of waste heat-to-power solutions that will redefine energy efficiency worldwide.

    About Clean Energy Technologies, Inc. (CETY)

    Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. Our principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

    CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol “CETY.” For more information, visit www.cetyinc.com.

    Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

    This summary should be read in conjunction with our annual report on Form 10-K for the year ending December 31, 2024, and our other periodic filings made with the Securities and Exchange Commission, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters, which filings can be located on the website of the Securities and Exchange Commission at www.sec.gov.

    Safe Harbor Statement

    This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Clean Energy Technologies, Inc.

    Investor and Investment Media inquiries:

    949-273-4990

    ir@cetyinc.com

    Source: Clean Energy Technologies, Inc.

    The MIL Network –

  • MIL-OSI: Genie Energy to Report First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    NEWARK, NJ, April 23, 2025 (GLOBE NEWSWIRE) — Genie Energy Ltd., (NYSE: GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the first quarter of 2025 on Tuesday, May 6, 2025.

    Genie Energy will issue an earnings release over a wire service and post it in the “Investors” section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC.

    At 8:30 AM Eastern, Genie Energy’s management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will begin with management’s remarks followed by Q&A with investors.

    To participate in the conference call, dial 1-877-545-0523 (toll-free from the US) or 1-973-528-0016 (international) and provide the following participant access code: 585907.

    Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 52352. The replay will remain available through Tuesday, May 20, 2025. In addition, a recording of the call will be available for playback on the the Genie Energy website. 

    In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. 

    About Genie Energy Ltd.: 

    Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division (GREW) is a vertically-integrated provider of community and utility-scale solar energy solutions. For more information, visit Genie.com.

    Contact: 
    Genie Energy Investor Relations
    Bill Ulrey
    E-mail: wulrey@genie.com 

    # # # 

    The MIL Network –

  • MIL-OSI: Netcapital Portfolio Company Acquires Spellbook Studio

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, MA, April 23, 2025 (GLOBE NEWSWIRE) — Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced that Netcapital portfolio company, Zelgor, has acquired Spellbook Studio, creators of The Infinite Black & The Infinite Black 2.

    The Infinite Black franchise is a space combat Massive Multiplayer Online game (MMO) and was one of the first MMO’s to be released on Android in 2011. Players build, collect, manage, and battle their fleet of spaceships as they fight for control of The Infinite Black. Both games are free to play on mobile and generate revenues through the sale of virtual “credits” which can be used to purchase ship upgrades.

    “With a community of 120,000 players, this is an opportunity for Zelgor to own and operate a franchise with a devoted following,” said John Fanning Jr., Zelgor CEO. “Through this acquisition, Zelgor now expects to generate enough revenue to make its ongoing operations sustainable.”

    The Infinite Black 2 is available for download using the following link: https://linktr.ee/Zelgor

    About Zelgor

    Zelgor is an interactive entertainment company creating a virtual universe around its unique media franchise, called the Noobs, an army of outlandish aliens exploring the universe. Zelgor investors include famous venture capitalist Tim Draper, co-creator of Guitar Hero, Kai Huang, and the founders of Napster. The Zelgor team holds real-world experience working on successful games like The Sims, Bioshock Infinite, Dungeons & Dragons Online, and many more. To learn more about Zelgor Games, visit zelgor.com.

    About Netcapital Inc.

    Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company’s consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

    Forward Looking Statements

    The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

    Investor Contact

    800-460-0815 
    ir@netcapital.com

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

    About EquityZen

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

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

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

    The MIL Network –

  • MIL-OSI: Siebert Financial Expands Executive Team with New CMO Stefano Marrone

    Source: GlobeNewswire (MIL-OSI)

    MIAMI and NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) —  Siebert Financial Corp. (NASDAQ: SIEB), a diversified financial services company, has appointed Stefano Marrone as Chief Marketing Officer. Marrone will direct marketing for all divisions (including Siebert.Valor, Siebert.SPS, and Gebbia Media) to advance the firm’s mission of delivering “Financial Freedom for Everyone.” A key focus of his role will be bringing media production and financial literacy together, leveraging the unique presence of Gebbia Media within Siebert Financial.

    In 2024, Marrone led Siebert Financial’s successful rebrand and rolled out a modernized website as a consultant, working closely with Siebert’s leadership. That initiative drove notable brand growth and client engagement. He brings extensive experience collaborating with leading financial institutions such as J.P. Morgan, UBS Asset Management, and HSBC, as well as tech giants Google and Meta. Marrone also founded and exited a content agency, demonstrating an entrepreneurial spirit that fuels bold marketing and strategic thinking.

    “Stefano’s ability to deliver fresh thinking has already energized Siebert Financial,” said John J Gebbia, CEO of Siebert Financial. “He helped spark our rebrand last year, and we’re excited about his vision to engage the next generation of investors, which will keep us ahead in a competitive market.”

    Marrone will focus on creative campaigns, AI-driven marketing, and brand development. He aims to build innovative content solutions that increase both financial literacy and client engagement, particularly through Gebbia Media’s production capabilities.

    “Stefano’s commitment to modern content resonates with our goals,” said David Gebbia, Principal at Siebert Financial and CEO of Gebbia Media. “Bringing together media production and financial education under one roof is a rare advantage for a financial firm. His background in storytelling and AI will help us create dynamic content, bridging entertainment and financial literacy for clients of all ages.”

    Siebert.Valor’s mission to reach veterans and military families remains key to the company. Marrone will ensure messaging and educational resources reach those audiences effectively, reflecting the firm’s broader commitment to inclusivity.

    “Stefano has a gift for making complex topics like financial education feel clear and empowering. His approach will help us better support our veterans and active-duty communities,” said Kaj Larsen, Head of Military Investment and Communications at Siebert.

    Marrone sees bold leadership and unified media resources as keys to building on Siebert Financial’s legacy of innovation in finance.

    “I am excited to join a financial brand with such a rich history,” said Marrone. “Working with the Gebbia family has shown me how forward-looking leadership can reimagine a legacy institution. Combining Gebbia Media’s creative capabilities with robust financial education to engage with a younger audience segment is a powerful strategy. I’m honored to help shape the next chapter of Siebert Financial as we continue to innovate in an industry that strongly needs it.”

    About Siebert Financial Corp.
    Siebert is a diversified financial services company and has been a member of the NYSE since 1967, when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

    Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, and StockCross Digital Solutions, Ltd, and Gebbia Entertainment LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions, in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

    About Gebbia Media
    Gebbia Media is a subsidiary of Siebert Financial Corp. and is an entertainment company focused on the promotion of music artists and catalogue acquisition, as well as the production of film and TV content across story-driven, reality, and factual formats. Gebbia Media functions as the in-house production agency of Siebert Financial and currently has several media projects in development.

    Cautionary Note Regarding Forward-Looking Statements
    The statements contained in this press release that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by, or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.

    These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of the management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert’s business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A – Risk Factors of Siebert’s Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert’s filings with the SEC.

    Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a0d77ebc-7226-46ce-8c2e-5129bfd3057d

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    About SIOS Technology Corp.

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

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

    Media Contact:

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

    The MIL Network –

  • MIL-OSI: Volta Finance Limited – Net Asset Value(s) as at 31 March 2025

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA / VTAS)
    March 2025 monthly report

    NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES

    Guernsey, April 23rd, 2025

    AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for March 2025. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).

    Performance and Portfolio Activity

    Dear Investors,

    Volta Finance’s net performance for the month of March was negative -2.9%, taking the Aug 2024-to-date performance at +9.7%. Both our investments in CLO Debt and CLO Equity were impacted by the broader volatility and risk repricing across global markets. In line with its dividend policy, Volta declared a 15.5c quarterly dividend through the month.

    CLO markets exhibited classic cyclical patterns characterized by spread tightening in January followed by some widening towards the end of the Quarter. However, market movements in March extended beyond typical seasonal dynamics as geopolitical tensions and uncertainties surrounding President Trump’s trade policies had a significant impact. The announcement of tariffs targeting Canada, Mexico and increased levies on China in February shook Equity markets across the globe and triggered a general repricing of risk. March saw additional tariff threats hinting towards a total revamp of US trade agreements in the making. Major Equity indices sold off, with pressures on technology, automotive and consumer discretionary sectors notably. These announcements overshadowed positive news on the inflation front (cooling PCE), while the Fed maintained its key rate on March 19. Lower GDP growth projections were on everybody’s mind, while markets were left in limbo ahead of the tariff announcements of the US administration due to take place on April 2nd.

    It was no surprise to see Credit markets repricing in March as well: the European High Yield index (Xover) closed around 40bps wider at 328bps. In the loan market, Euro Loans dropped c. 1pt to about 97.80px (Morningstar European Leveraged Loan Index) while US Loans felt by 85cts down to 96.30px. The primary CLO market remained active as many transactions were executed, although levels moved wider across the capital structure, notably BBs towards +600bps (from +475bps context). In terms of performance, BBs had a total return of -1.5%, US High Yield returned -1.07% and Euro High Yield were down by -1%.

    Looking at Volta Finance’s cashflow, the portfolio generated c. €28m equivalent of interests and coupons over the last six months, representing c.21% of February’s NAV on an annualized basis. Over the month, Volta’s CLO Equity tranches returned -4.3%** while CLO Debt tranches returned -0.5% performance**, cash representing c. 10% of the NAV.

    Volta is around 21% exposed to USD, the March currency moves having a meaningful impact on the overall funds’ performance (-0.94%).

    As of end of March 2025, Volta’s NAV was €269.6m, i.e. €7.37 per share.

    *It should be noted that approximately 0.29% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.18% as at 28 February 2025, 0.11% as at 30 September 2024.

    ** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

    CONTACTS

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A, Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,800 professionals and €859 billion in assets under management as of the end of June 2024.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Primary (Urban) Co-operative Banks’ Outlook 2023-24

    Source: Reserve Bank of India

    The Reserve Bank of India today herewith releases the 11th volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2023-24’. It can be accessed at https://data.rbi.org.in/#/dbie/reports/Publication/Time-Series%20Publications/Primary%20%28Urban%29%20Co-operative%20Banks’%20Outlook. The publication has been brought out by the ‘Department of Supervision’ of the Reserve Bank of India.

    The publication covers the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks for the financial year 2023-24. The publication provides aggregate information on major items of balance sheet, profit and loss account, non-performing assets, financial ratios, state-wise distribution of offices and details of priority sector advances. Besides, the publication also provides bank-wise information of Scheduled Primary (Urban) Co-operative Banks on balance sheet items, select financial ratios on Capital Adequacy, Profitability, and Employee Productivity. The publication is being brought out in only electronic form on an annual basis on the Reserve Bank’s website through the link https://data.rbi.org.in/#/dbie/reports/Publication/Time-Series%20Publications/Primary%20%28Urban%29%20Co-operative%20Banks’%20Outlook of Database on Indian Economy (DBIE). There will be no hard copies of the publication available for the reference in the matter.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/168

    MIL OSI Economics –

  • MIL-OSI: Apollo Funds Form $220 Million Community Solar Joint Venture with Bullrock Energy Ventures

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and SOUTH BURLINGTON, Vt., April 23, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Bullrock Energy Ventures (“Bullrock”) today announced that Apollo-managed funds (the “Apollo Funds”) have committed to fund up to $220 million for a new joint venture partnership with Bullrock related to a portfolio of community solar assets located in New York and New England. $100 million of Apollo’s equity commitment will fund the development of Bullrock’s nearly 500 MW pipeline of renewable energy assets.

    Based in Vermont, Bullrock is a high-growth renewable energy company with operations throughout the Northeast. The company’s vertically integrated model includes deal sourcing, underwriting, development, construction, financing and asset management. Bullrock, led by Chairman and Founder Gregg Beldock, alongside partner company NxtGenREA led by Mike Mills, has developed nearly 500 MW of solar projects across New England, New York and the Midwest over the past decade. The projects support local residents and businesses throughout the country with access to affordable clean energy. 

    “We are excited to partner with Gregg and the Bullrock team and invest in this scaled portfolio of solar assets that we believe will offer significant benefits to their surrounding communities,” said Apollo Partner Corinne Still. “Community solar represents an innovative solution to expanding local access to clean, efficient power across the energy grid, benefiting individuals, households and businesses alike. This partnership underscores Apollo’s commitment to serving as a leading capital provider supporting the energy transition, investing in companies and projects that serve the growing demand for diverse sources of power.”

    Bullrock Chairman and Founder Gregg Beldock and Bullrock Managing Partner Amory Beldock stated, “Our partnership with Apollo enhances a leading vertically integrated renewables platform working to meet the growing demand for power while reinforcing American energy security. Our long history in construction and development paired with Apollo’s integrated platform positions us to efficiently scale our portfolio. Community solar lowers energy costs, improves grid resiliency and boosts local economies. Apollo shares our commitment to driving the industry forward and we’re proud to work with them.”

    Over the past five years, Apollo-managed funds and affiliates have committed, deployed or arranged approximately $58 billioni of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

    Tax Equity for the portfolio is arranged by Mike Mills through his company NxtGenREA.

    Orrick, Herrington & Sutcliffe LLP served as legal to the Apollo Funds. Brown Rudnick LLP served as legal counsel to Bullrock. 

    i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030 The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    About Bullrock Energy Ventures

    Bullrock Energy Ventures is a vertically integrated renewable energy investment platform. The company was born out of Bullrock’s long history across renewables, construction, real estate development and healthcare and NxtGenREA’s deep experience in solar development and tax equity financing. Bullrock has developed over 500 MW to date, deployed over $2B in capital across the clean energy space, and is quickly moving to develop its 500 MW pipeline. Our success is a testament to our uniquely integrated model which allows us to build, operate, finance and manage energy assets at scale. We are proud to accelerate the energy transition through our pioneering approach to development while supporting local communities and securing American energy independence. 

    Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    212-822-0540
    ir@apollo.com 

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    212-822-0491
    communications@apollo.com 

    For Bullrock Energy Ventures:

    ir@bullrockcorp.com

    For Bullrock Media Contacts:

    Patrick Lenihan
    Gravity Strategic Partners
    patrick@gravitystrat.com
    201-819-9871

    The MIL Network –

  • MIL-OSI: Wearable Devices Secures U.S. Patent for Combined Voice and Gesture Control

    Source: GlobeNewswire (MIL-OSI)

    Newly allowed patent extends Wearable Devices’ innovative gesture technology into the domain of voice control

    YOKNEAM ILLIT, ISRAEL, April 23, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced that the United States Patent and Trademark Office has allowed its patent titled “Gesture and Voice-Controlled Interface Device.”

    This patent represents a significant advancement in the Company’s strategic intellectual property (“IP”) portfolio, strengthening global protection for its core innovations in wearable bio-potential sensors. The Company’s IP strategy includes patent families designed to protect a wide spectrum of future applications, ensuring agility in response to emerging global market needs.
    The newly allowed patent enables the integration of gesture recognition with voice control interfaces, introducing personalization features, and combining both neural and voice-based user authentication. This creates a more seamless, secure, and intuitive human-machine interaction.

    The patented technology enables intuitive, hands-free interaction across a wide range of applications. For example, users wearing AI-powered or augmented reality (“AR”) glasses can navigate maps, control audio, and access virtual assistants using natural gestures and voice commands. In smart home applications, a user can use their voice to select a home appliance to control – such as the TV volume or air conditioning temperature – and then use subtle gestures to fine-tune the settings. In multi-user environments, such as smart homes or shared AR systems, the device intelligently recognizes individual users through unique gesture and voice signatures, delivering personalized experiences. In clinical or surgical settings, medical professionals can interact with digital interfaces – scrolling, zooming, or switching views – without compromising sterility, using only in-air gestures and voice cues.

    “Voice control is an essential interface for smart environments, but it often lacks the precision, personalization and the security users need,” said Guy Wagner, President and Chief Scientific Officer of Wearable Devices. “By integrating voice and gesture-based interaction along with neural and voice-based user authentication, we’re bridging that gap, enabling users not only initiate actions by voice but also to fine-tune and personalize device behavior through intuitive gestures. This combination introduces a new dimension of seamless, secure, and intelligent human-computer interaction.”

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a pioneering growth company revolutionizing human-computer interaction through its AI-powered neural input technology for both consumer and business markets. Leveraging proprietary sensors, software, and advanced AI algorithms, the Company’s innovative products, including the Mudra Band for iOS and Mudra Link for Android, enable seamless, touch-free interaction by transforming subtle finger and wrist movements into intuitive controls. These groundbreaking solutions enhance gaming and the rapidly expanding AR/VR/XR landscapes. The Company offers a dual-channel business model: direct-to-consumer sales and enterprise licensing. Its flagship Mudra Band integrates functional and stylish design with cutting-edge AI to empower consumers, while its enterprise solutions provide businesses with the tools to deliver immersive and interactive experiences. By setting the input standard for the XR market, Wearable Devices is redefining user experiences and driving innovation in one of the fastest-growing tech sectors. Wearable Devices’ ordinary shares and warrants trade on the Nasdaq under the symbols “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statements Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our IP strategy and the benefits and advantages of it, emerging global market needs and the benefits and advantages of newly patented technology. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2024, filed on March 20, 2025 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Michal Efraty
    IR@wearabledevices.co.il

    The MIL Network –

  • MIL-OSI China: Shanghai makes steady progress in international financial center construction: official

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

    Shanghai makes steady progress in international financial center construction: official

    BEIJING, April 23 — Shanghai’s international financial center construction process is progressing soundly and features notable achievements, particularly through pioneering reforms in cross-border financial services, a central bank official said on Wednesday.

    These endeavors have generated a set of replicable “Shanghai experiences” that can be applied elsewhere, Lu Lei, deputy governor of the People’s Bank of China, told a press conference.

    In 2024, Shanghai’s cross-border RMB receipts and payments totaled 29.8 trillion yuan (about 4.1 trillion U.S. dollars), a year-on-year increase of 30 percent, accounting for 47 percent of the national total.

    Lu also said that China will implement 18 key measures to further facilitate cross-border financial services in Shanghai.

    These measures include enhancing cross-border settlement efficiency, optimizing the hedging of foreign exchange risks, and strengthening financing services, according to the latest action plan to further facilitate cross-border financial services in Shanghai by leveraging its role as an international financial center.

    The action plan will enhance the facilitation of global asset management, and support eligible Qualified Domestic Limited Partner pilot enterprises in reasonably improving the efficiency of fund utilization under regulatory compliance, allowing them to invest in short-term cash management products in China, including low-risk monetary funds, cash management products and time deposits, as well as subscribing to certain overseas cash management products.

    The plan will also encourage financial institutions to enhance their capacity to provide digital services and support them to improve services for enterprises to expand abroad by leveraging technologies such as blockchain.

    Efforts will be made to enhance the functionality and global coverage of the Cross-Border Interbank Payment System and encourage more banks to participate in the system, the action plan stated.

    MIL OSI China News –

  • MIL-OSI: Aemetis India Plant Visited by U.S. Consul General

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 23, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, has been working with the U.S. government to support the success of American interests in India. Aemetis owns and operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh. The U.S. Consul General, Jennifer Larson, recently toured the Universal biodiesel plant along with staff from the consulate to further the collaboration with Aemetis. 

    India is committed to the production and use of biofuels to expand markets for agricultural products and to utilize waste materials to improve air quality. The target set in the India National Policy on Biofuels is an increase in the blend of biodiesel from 1% to 5%. The meeting and plant tour by Jennifer Larson, the U.S. Consul General based in Hyderabad, India, focused on understanding the implications of India biofuels policies to expand the production of renewable fuels by Universal Biofuels.

    “Diesel engine emissions are a significant contributor to air pollution and a cause of significant public health problems in India,” said Eric McAfee, Chairman and CEO of Aemetis. “The Universal Biofuels facility in India has invested in the expansion of production capacity to meet India’s goal of a 5% biodiesel blend and facilitate the reduction of air pollution from diesel engine exhaust. The visit by the Consul General is representative of the level of engagement by all parties to generate the many benefits of renewable fuels in India.”

    “The adoption of new policies in India that facilitate access to feedstocks supports our plans to raise the capital and invest the resources into growing our production capacity,” said Sanjeev Duggal, CEO of Universal Biofuels. “We look forward to continuing the work with the consulate and view the visit by Ms. Larson as a critical step forward that is an important sign of support for our business.” 

    Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months. To support further growth, Universal Biofuels is preparing for an IPO in India, aiming for completion in late 2025 or the first half of 2026, subject to continued favorable stock market conditions.

    Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMCs are expected to begin again this month under the next round of biodiesel contracts. 

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    First Quarter 2025 Highlights:

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

    Balance Sheet

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

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

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

    Net Interest Income

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

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

    Provision Expense

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

    Noninterest Income

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

    Noninterest Expense

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

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

    Taxes

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

    Asset Quality

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

    Capital

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

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

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

    First Hawaiian, Inc.

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

    Conference Call Information

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

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

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

    Forward-Looking Statements

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

    Use of Non-GAAP Financial Measures

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    (continued)

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: red violet to Announce First Quarter 2025 Financial Results on May 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    BOCA RATON, Fla., April 23, 2025 (GLOBE NEWSWIRE) — Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, announced today that it will report its financial results for the first quarter ended March 31, 2025 after the close of the U.S. financial markets on Wednesday, May 7, 2025.

    The Company will host its earnings call on Wednesday, May 7, 2025 at 4:30pm ET to discuss its quarterly results and provide a business update.

    The participant registration and webcast information are listed below. The earnings call will be simultaneously webcast on the Investors section of the red violet website at www.redviolet.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required.

    Please note participants must register to receive their unique dial-in number credentials. A general dial-in number will not be provided.

    PARTICIPANT REGISTRATION & WEBCAST INFORMATION
    WHEN: WEDNESDAY, MAY 7, 2025 at 4:30pm ET
    Participant Registration:  Click Here
    Webcast URL: Click Here

    Following the completion of the conference call, an archived webcast of the earnings call will be available on the Investors section of the red violet website at www.redviolet.com.

    About red violet®

    At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit www.redviolet.com.

    Company Contact:
    Camilo Ramirez
    Red Violet, Inc.
    561-757-4500
    ir@redviolet.com

    Investor Relations Contact:
    Steven Hooser
    Three Part Advisors
    214-872-2710
    ir@redviolet.com

    The MIL Network –