NewzIntel.com

Category: Economy

  • MIL-OSI: CLIK Announces Acquisition of Remaining 75% Equity Interest in Leading Nursing Care Competitor, Solidifying Market Leadership and Expanding Revenue Base

    Source: GlobeNewswire (MIL-OSI)

    Hong Kong, April 22, 2025 (GLOBE NEWSWIRE) — Today, Click Holdings Limited (NASDAQ: CLIK) (“Click” or the “Company” or “we” or “our”), a leading provider of human resources (“HR”) solutions in Hong Kong specializing in Seniors Nursing Care, Logistics, and Professional HR services, is pleased to announce the acquisition of the remaining 75% equity interest in a prominent nursing care competitor (“Target Company”). 

    The Target Company has over a decade of experience serving the Hong Kong seniors community and maintains a talent pool of over 9,000 nursing professionals. It is expected to generate annual billings of over HK$60 million and net profit in the range of approximately HK$2.0 million to HK$3.5 million, making it a financially accretive addition to Click’s growing healthcare HR platform.

    Click previously acquired a 25% equity interest in the Target Company in March 2025. Upon completion of the remaining 75% acquisition, Click will hold 100% ownership, granting it full control to integrate operations and drive long-term strategic value.

    “This acquisition marks a transformative step for Click,” said Mr. Chan, CEO of Click. “With full ownership, we are able to consolidate operations, align our resources, and unlock significant synergies that will accelerate our leadership in the nursing care sector.”

    The acquisition expands Click’s total talent pool to over 19,000 registered professionals, strengthening its ability to meet surging demand for skilled nursing services across Hong Kong and surrounding regions. The integrated operations are also expected to create substantial operational efficiencies and boost overall profitability.

    Full ownership further enables Click to fast-track development in high-growth verticals, including Home Seniors Nursing Services and Smart Home Nursing Solutions — key focus areas in its long-term strategy to deliver scalable, tech-enabled care solutions.

    Click remains focused on executing its integration roadmap and delivering superior value to its clients, talent network, and shareholders. Further updates on the progress of the integration, service enhancements, and growth milestones will be shared in due course.

    About Click Holdings Limited

    We are a fast-growing human resources solutions provider based in Hong Kong, aiming to match our client’s human resources shortfall through our proprietary AI-empowered talent pool by one “click”. Our key businesses primarily include nursing solution (mainly seniors) services, logistics solution services and professional solution services.

    For more information, please visit https://clicksc.com.hk.

    Safe Harbor Statement

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.

    For enquiry, please contact:

    Click Holdings Limited
    Unit 709, 7/F., Ocean Centre
    5 Canton Road
    Tsim Sha Tsui, Kowloon
    Hong Kong
    Email: jack.wong@jfy.hk
    Phone: +852 2691 8900

    The MIL Network –

  • MIL-OSI USA: PHOTOS: Capito Delivers Keynote Remarks at Focus Forward Conference

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    MORGANTOWN, W.Va. – Today, U.S. Senator Shelley Moore Capito (R-W.Va.), chairman of the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, traveled to Morgantown, W.Va. to deliver keynote remarks at the seventh annual Focus Forward conference: Long Live West Virginia.
    During her remarks, Senator Capito discussed the intersection of health, wellness, and economic mobility, as well as provided an update on some of the legislative solutions she has worked on in the United States Senate to improve health outcomes for West Virginians. After her remarks, Jon Retzlaff, Chief Policy Officer of the American Association of Cancer Research (AACR) presented Senator Capito with AACR’s 2025 Distinguished Public Service Award.  
    “The health and wellbeing of West Virginians is directly tied to the strength of our economy and the resilience of our people. As a United States Senator and as someone who has spent years working on health and economic issues—particularly in rural areas like West Virginia—I know just how interconnected these challenges are. We cannot talk about economic mobility without talking about health, we cannot promote wellness without looking at access to care, and we cannot plan for the future without acknowledging that Americans are living longer – often with more complex health needs. I was glad to share this message during the Focus Forward Conference and continue working together to improve health care opportunities so all West Virginians have a fair shot at a healthy, productive life,” Senator Capito said.
    “We are honored that Senator Capito could join our seventh annual Focus Forward conference, a broad-based convening of leaders to better understand an emerging issue that will impact West Virginia’s workforce and economy,” Jen Giovannitti, President of the Claude Worthington Benedum Foundation, said. “As a leading champion in supporting legislation and policy on health, aging, neuroscience, cancer research and caregiving, her voice and impact at the federal and state level are critical as we navigate the future opportunities and challenges of how increasing life expectancies will impact our society, work, economy and everyday lives. We are grateful for her continued engagement at this event, as well as her leadership and time today.”
    Photos from today’s visit are below:

    U.S. Senator Shelley Moore Capito (R-W.Va.) speaks at the Focus Forward conference in Morgantown, W.Va. on Tuesday, April 22, 2025. 

    U.S. Senator Shelley Moore Capito (R-W.Va.) receives the Distinguished Public Service Award from Jon Retzlaff of the American Association of Cancer Research in Morgantown, W.Va. on Tuesday, April 22, 2025. 

    U.S. Senator Shelley Moore Capito (R-W.Va.) at the Focus Forward conference in Morgantown, W.Va. on Tuesday April 22, 2025. 

    MIL OSI USA News –

  • MIL-OSI USA: Bean Increases Health Care Choices for Americans

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

    WASHINGTON—Today, U.S. Congressman Aaron Bean (FL-04) introduced the Flexible Savings Arrangements for Healthy Robust America (FSA-HRA) Act, to expand options for Americans seeking to save responsibly for their future health costs.

    Specifically, this commonsense bipartisan legislation amends the Internal Revenue Code of 1986 to permit Americans to transfer Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) contributions into Health Savings Accounts (HSAs) in connection with establishing coverage under a High-Deductible Health Plan (HDHP). 

    Upon introduction, Congressman Bean said: “Many hardworking individuals and families find our nation’s health care system too convoluted and confusing to navigate. As a result, many often forfeit their unused FSA contributions or lose their HRA contributions. We need to give Americans the flexibility to plan, save, and take charge of health care decisions for their families. That’s why I’m proud to introduce this commonsense bill that will make it easier for families to take control of both their physical and financial health.”

    Congressman Bean was joined by Congressmen Dan Crenshaw (TX-02) and Jimmy Panetta (CA-19) in introducing this bill.

    “This bill is simple. If you contribute your dollars to a tax advantaged account, you should be able to use those dollars to fund a health savings account,” said Congressman Crenshaw. “Arbitrary government rules shouldn’t stop Americans from using their own savings for health care.”

    “All too often, too many working families lose their unused FSA and HRA funds because of outdated “use-it-or-lose-it” rules,” said Congressman Panetta. “The FSA-HRA Act lets them roll those unused dollars into their Health Savings Accounts so they can save for future medical expenses tax-free.  This bipartisan fix gives working families more flexibility and ensures they’re not penalized for being prepared.”

    BACKGROUND 

    Currently, the law requires FSA and HRA contributions to be spent by the end of the year or otherwise forfeited and returned to the employer. 

    The FSA-HRA Act will allow American workers, or those switching jobs, to preserve their unused FSA and HRA funds by removing this out-of-date use-it-or-lose-it policy and giving them the flexibility to save for future medical expenses tax-free.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Saves Preston High School in the Bronx

    Source: US State of New York

    EW YORK – New York Attorney General Letitia James today announced that Preston High School in the Bronx will remain open for years to come. The Office of the Attorney General (OAG) facilitated an agreement between the Sisters of the Divine Compassion of the State of New York, which owned the property of Preston High School since 1947, Preston High School, and the Bally’s Foundation of North America, a charitable nonprofit organization. The Bally’s Foundation has purchased the property from the Sisters of the Divine Compassion and will lease the property to Preston High School for $1 per year for the next 25 years. The agreement gives Preston High School the option to renew its lease for successive five-year intervals at the end of the current 25-year lease term. Today’s agreement to keep Preston High School open follows a public hearing held by Attorney General James with teachers, students, parents, alumni, elected officials, and community members.

    “Preston High School is a pillar of the Bronx community that has educated generations of young women and today I am proud to announce that the school will stay open for years to come,” said Attorney General James. “I want to thank all the students, teachers, parents, alumni, and elected officials who submitted testimony to my office and advocated to keep the school open. Today’s announcement would not have been possible without their relentless advocacy and leadership. Preston High School raises young women to become strong leaders, and I am thrilled that many more generations will benefit from this treasured school.”

    “From the very beginning, when families and community members voiced their concerns about the possible closure of Preston High School, I made it a priority to listen and support them,” said Senator Nathalia Fernandez. “I’m truly grateful that Attorney General Letitia James took our concerns seriously and acted swiftly, resulting in an agreement to keep Preston open for years to come.”

    “I’m thrilled at the news that an agreement has been reached to keep Preston High School open,” said Assemblymember Michael Benedetto. “This is a tremendous victory for the students, families, and the entire Throggs Neck community. I want to sincerely thank Attorney General Letitia James and her team for their steadfast commitment to protecting our schools and standing with Preston students during this critical moment.”

    “I want to extend my heartfelt thanks to Attorney General Letitia James for her swift and thoughtful action in helping to prevent Preston’s abrupt closure,” said City Council Majority Leader Amanda Farias. “Her open communication, leadership, and commitment to keeping all parties at the table were instrumental in reaching this critical turning point. As a proud Preston alumna, I’ve been deeply invested in this fight from the very beginning – organizing, advocating, and working directly with stakeholders to ensure Preston had a future. I’m especially grateful that the Attorney General heard our concerns, launched a timely investigation, and ensured that due process and community voices were respected every step of the way. This outcome – including the historic agreement with the Bally’s Foundation to secure Preston’s home for the next 25 years and beyond – is a powerful reminder of what’s possible when we lead with love, persistence, and unity. I am proud to have helped shape a deal that not only protects the future of Preston but honors the community that fought so hard for it. We didn’t just preserve a beloved institution – we protected a legacy.”

    “I am thrilled to hear that an agreement has been reached to keep Preston High School open,” said Bronx Borough President Vanessa Gibson. “At a time when we’ve seen the heartbreaking closure of several Catholic schools in our borough and across New York City, this outcome is a powerful reminder of what’s possible when a community comes together. Preston High School has been a beacon of education and opportunity in the Bronx since it first opened its doors in 1947. Its legacy of academic excellence, character formation, and service has touched generations of young women and helped shape countless leaders in our city and beyond. Thank you to Attorney General Letitia James, the Charities Bureau, parents, students, educators, advocates, alumni, and my elected colleagues who fought tirelessly to preserve this institution. Our collective voices made this happen. This is more than just a win for Preston — it’s a win for the Bronx and for every young person who dreams of a bright future.”

    Preston High School is an all-girls Catholic school that has served the Bronx community for 75 years. In late February, the Sisters of the Divine Compassion announced their plans to close the school and sell the property at the end of the 2025 academic year, citing financial hardship. On April 8, Attorney General James held a public hearing to gather input from students, teachers, parents, alumni, and community members on the impact of the closure. 

    Today, Attorney General James announced that the Bally’s Foundation has purchased the property from the Sisters of the Divine Compassion for $8.5 million. The Bally’s Foundation will lease the property to Preston High School for $1 per year for the next 25 years, with the opportunity to renew the lease for five successive years at the end of the current 25-year term. The lease also gives Preston High School the option to purchase the property and a right of first refusal if the Bally’s Foundation seeks to sell the property in the future. Moreover, the Bally’s Foundation has agreed to fund up to $1 million in capital improvements for the school and to cover up to $600,000 in legal and closing costs that associated with the process.  

    In addition, the Sisters of the Divine Compassion have agreed to establish independent governance of Preston High School that requires them to:

    • Work with Preston High School to establish the school as an independent Catholic school as acceptable to the Archdiocese of New York;
    • Help establish an independent board of trustees for Preston High School by appointing, with OAG approval, trustees to the board of trustees who are not affiliated with the Sisters of the Divine Compassion or employed at Preston High School; and
    • Immediately relinquish all but one seat on the schools’ board of trustees and give up that seat once the school is fully independent.

    Attorney General James thanks the Sisters of the Divine Compassion, the Bally’s Foundation, and Preston High School for working together with her office to find a financial and practical resolution for Preston High School to stay open for years to come.

    This matter was handled by Assistant Attorney General Peggy Farber, Assistant Attorney General William Wang, and Section Chief Emily Stern, all of the Charities Bureau, under the supervision of Deputy Bureau Chief Karin Kunstler Goldman and Bureau Chief James Sheehan. The Charities Bureau is part of the Division for Social Justice, which is led by Chief Deputy Attorney General Meghan Faux and overseen by First Deputy Attorney General Jennifer Levy. The public hearing was led by Operations team members Andrea Rua, Michael Fasullo, Sally Rifkin, Rouselle Ligon, and Wayne Collins, all under the supervision of Director of Strategic Planning Ryan Doyle. Hearing testimony was collected and managed by members of the Intergovernmental Affairs team, including Hanadi Doleh, Julian Sepulveda, Jessica Mates, Javier Medrano, and Casandra Walker, all under the supervision of Intergovernmental Affairs Director Harold Miller. Both the Operations and Intergovernmental Affairs teams are part of the Executive Division, which is overseen by Chief of Staff Anna Brower. Technical support for the hearing was provided by Jermaine Francis, Malik Donadelle, and Marcus Williams, all of the Administration Division’s Bureau of Internet Technology.

    MIL OSI USA News –

  • MIL-OSI Africa: CORRECTION: African Development Bank approves $19.85 million grant for crisis response to the most vulnerable in Sudan’s conflict areas

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, April 22, 2025/APO Group/ —

    The Board of Directors of the African Development Bank Group (www.AfDB.org) has recently approved a $19.85 million grant over two years to support a humanitarian and resilience operation in Sudan, with a strong focus on improving livelihoods of vulnerable populations and easing the impact of the ongoing conflict on communities and infrastructure.  

    In the short term, the Crisis Response for Women and Affected Communities in Sudan project, co-financed by the International Committee of the Red Cross (ICRC) will train and mobilize frontline workers such as health professionals, water and sanitation specialists, and market facilitators. The project will also restore up to five health facilities and four emergency centers in conflict zones, as well as rehabilitate water and energy systems in urban and rural settings.

    The financing also facilitates delivery of emergency food aid, such as lentils and sorghum and other staples, like tea leaves and sugar. Some 60,000 people will receive farming inputs like fertilizers and seeds this year alone. Cash grants to support livelihoods, with a focus on women and their dependents, as well as survivors of gender-based violence will also be provided.  

    Overall, the project will benefit 1.5 million Sudanese, or 265,000 households, of which a majority are led by women. The project will also benefit internally displaced (IDPs) and hosting communities. The Bank categorizes the Crisis Response for Women and Affected Communities in Sudan project as “Category 1” on its Gender Marker System, indicating the principal objective of the project directly addresses gender equality and women’s empowerment.

    “Peace, security and stability are urgently needed for Sudanese communities to reach their full potential,” Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development, said about the project.

    “The Crisis Response for Women and Affected Communities in Sudan project will help restore social services and economic opportunities to some of the country’s most vulnerable communities. The Bank financing will also strategically promote inclusive and resilient economic activities, intentionally contributing to peacebuilding” she added.

    The Bank’s Transition Support Facility (TSF) is financing the bank’s share of the project. The Facility, introduced in 2008, provides additional concessional resources to countries facing situations of fragility and conflict.

    This Bank crisis response operation, implemented in collaboration with the ICRC, goes beyond short-term humanitarian interventions to invest in long-term resilience and sustainable development with a focus on women and affected communities. It adopts a humanitarian-development-peace nexus approach which blends urgent humanitarian relief with efforts to lay the foundation for long-term development and peace. While addressing the conflict with a rapid response focused on food security and other livelihood support, the project’s focus remains on early recovery for affected communities and displaced populations.

    The International Committee of the Red Cross will draw on its deep operational experience and long-standing presence in Sudan and work through existing staffing and infrastructure. The project focuses on scaling up sustainable solutions, including through strengthening capacities of the Sudanese Red Crescent Society. As part of its mandate, the ICRC will also advance respect for International Humanitarian Law, which remains a cornerstone of humanitarian response in conflict-affected areas, thereby also protecting civilian infrastructure and assets.

    To date, an estimated eleven million Sudanese have been displaced internally, and another 3.8 million — mostly women and children — have been forced to flee to neighboring countries. Supporting Sudan’s stabilization requires coordinated and joint efforts of combined immediate relief laying the foundation for inclusive long-term development and lasting stability. Policy dialogue will be key to ensuring women’s participation in conflict prevention and crisis management.

    MIL OSI Africa –

  • MIL-OSI Security: Former Owner of Collapsed Nursing Home Empire Sentenced to 36 Months’ Imprisonment for $38 Million Tax Fraud Scheme

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

    NEWARK, N.J. – A New York man was sentenced to 36 months in prison for his role in a $38 million employment tax fraud scheme involving nursing homes he owned across the country, U.S. Attorney Alina Habba announced.

    Joseph Schwartz, 65, of Suffern, New York, previously pled guilty to two counts of an indictment charging him with willfully failing to pay over employment taxes withheld from employees of his company, and willfully failing to file an annual financial report (Form 5500) with the Department of Labor for the employee 401K Benefit Plan Schwartz sponsored, before U.S. District Judge Susan D. Wigenton in Newark federal court.

    According to documents filed in this case and statements made in court:

    Schwartz, an insurance broker and operator of Skyline Management Group LLC (“Skyline”), with headquarters in New Jersey, willfully failed to pay employment taxes relating to numerous health care and rehabilitation facilities that Skyline operated in 11 states.

    According to the indictment, Schwartz was required to collect, truthfully account for, and pay over to the Internal Revenue Service (“IRS”) trust fund taxes withheld from the pay of employees of Skyline and related companies.  From October 2017 through May 2018, Schwartz caused taxes to be withheld from employees’ pay but failed to then pay over more than $38 million in employment taxes to the IRS.  As an administrator of the Skyline 401K plan, Schwartz further had an obligation to file an annual Form 5500 financial report with the Secretary of Labor for calendar year 2018, but knowingly and willfully failed to file the report.

    U.S. Attorney Habba credited special agents of the IRS-Criminal Investigation, under the direction of Special Agent in Charge Jenifer Piovesan in Newark; Investigators with the Department of Labor-Employee Benefits Security Administration, under the direction of Regional Director Mark Seidel in the New York Regional Office; special agents of the FBI, under the direction of Acting Special Agent in Charge Terence G. Reilly; and the Department of Health and Human Services, Office of Inspector General, under the direction of Special Agent in Charge Naomi Gruchacz in the New York Regional Office, with the investigation that led to the sentencing in this case.

    The government is represented by Assistant U.S. Attorneys Daniel H. Rosenblum and Kendall R. Randolph of the Criminal Division in Newark and Trial Attorney Shawn Noud of the Justice Department’s Tax Division.

                                                                           ###

    Defense counsel: Kevin H. Marino, Esq. 

    MIL Security OSI –

  • MIL-OSI: EY US unveils Neil Araujo of iManage as an Entrepreneur Of The Year® 2025 Midwest Award finalist

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 22, 2025 (GLOBE NEWSWIRE) — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year 2025 Midwest Award. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most ground-breaking 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 Midwest program celebrates entrepreneurs from Indiana, Illinois and Wisconsin.

    An independent panel of judges selected Neil Araujo, CEO and co-founder of iManage, among 29 finalists for their entrepreneurial spirit, purpose, growth and lasting impact in building long-term value.

    “This recognition is a reflection of our team’s resilience and commitment to long-term success,” said Neil Araujo, CEO of iManage. “We’ve transformed iManage into a global SaaS leader trusted by knowledge workers in law, accounting, financial services, and beyond. I’m incredibly proud of the impact we’ve made, not just in business, but in the communities we serve and the lives we touch through our platform.”

    Founded in 1995, iManage helps over 4,000 global organizations — including 85% of the Global 100 law firms and 41% of the Fortune 100—manage and protect confidential information. Under Neil’s leadership, iManage has grown into a market leader in AI-powered, cloud-native work management platforms, and is committed to delivering purpose-driven innovation. The company’s SaaS platform is more carbon efficient than on-premises alternatives, and its commitment to community impact includes long-standing partnerships with nonprofits like Genesys Works and Chicago Debates.

    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 Wednesday, June 11, during a special celebration in Chicago 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 USA and SAP. In the Midwest, sponsors also include LaSalle Staffing, Inc. and Becker Professional Education.

    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 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 ey.com.

    Media Contact:
    Alicia Saragosa
    Head of Public Relations, iManage
    press@imanage.com

    The MIL Network –

  • MIL-OSI Economics: Latest Microsoft Flight Simulator update adds 5 US cities

    Source: Microsoft

    Headline: Latest Microsoft Flight Simulator update adds 5 US cities

    Dallas and Fort Worth, Texas

    Dallas, and its sister city to the west, Fort Worth, were established in the 1800s as railroad hubs to serve the cotton, livestock, and oil industries of Texas. Today, the Dallas-Fort Worth Metroplex, a key urban anchor in north Texas, is the most populous metropolitan area in the state. The region is a major international hub of several industries, including manufacturing, defense, finance, and tourism. The metroplex offers spectacular sights, including the iconic Fountain Place and a 720-foot-tall modernist skyscraper in Dallas; 777 Main Street in Fort Worth, a striking building that stands 525 feet tall; and the 561-foot-tall Reunion Tower, one of the most recognizable buildings in Dallas.

    Denver, Colorado

    Known as the “Mile High City” (its official elevation is 5,280 feet, exactly one mile above sea level), Denver is both the most populous city in Colorado and the state’s capital. Established in 1858 by prospectors who led what would come to be known as the Pike’s Peak gold rush, Denver became an important railroad city in 1870. It blossomed into a major metropolitan center in the 20th century, characterized by a stunning skyline set against the high Rocky Mountains. Some of the sights for pilots to behold include Republic Plaza, the city’s highest building at 714 feet; 1144 Fifteenth, one of the world’s most spectacular modern skyscrapers; the Rocky Mountains to its west; and the vast, oceanic plains east of Denver.

    San Francisco, California

    Called by many the most beautiful city in the world, San Francisco is squarely located where the San Francisco Bay opens to the Pacific Ocean. The city was formally established in 1850 due to the boom in population from the California Gold Rush, which began in 1848. Set along a spectacular section of Pacific Ocean coastline, San Francisco offers a wonderful selection of sights, including the world-renowned Golden Gate Bridge; the iconic Transamerica Building; Alcatraz Island; and the San Francisco-Oakland Bay Bridge.

    Honolulu, Hawaii

    The capital and most populous city of the state of Hawaii, Honolulu is known for its beautiful architecture set against the tropical blue and green waters of the Pacific Ocean. Located on the southeastern coast of the island of Oahu, Honolulu boasts human history that dates back many centuries and was incorporated as a city in 1907. Meaning “sheltered port” in Hawaiian, Honolulu features numerous sights for the aerial visitor, including its spectacular skyline; Diamond Head, an extinct volcanic cone just to the southeast of the city; the waters of the Pacific Ocean; and the spectacular Koʻolau Range inland of the metropolitan area.

    City Update 10: United States I is available FREE to all owners of Microsoft Flight Simulator and Microsoft Flight Simulator 2024. Ensure that you have the latest simulator version installed, download City Update 10, and explore. The sky is calling!

    Microsoft Flight Simulator and Microsoft Flight Simulator 2024 are available for Xbox Series X|S and PC with Xbox Game Pass, PC Game Pass, Windows, and Steam, and on Xbox One and supported mobile phones, tablets, and lower-spec PCs via Xbox Cloud Gaming. For the latest information on Microsoft Flight Simulator products, stay tuned to @MSFSOfficial on X (formerly Twitter) or visit www.flightsimulator.com.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: UK’s largest solar parking canopy project completed construction at Lakeside North Harbour

    Source: City of Portsmouth

    It is one of the largest car park solar panel and battery storage installations in the country.

    This innovative initiative comprises rooftop solar PV arrays on four buildings and newly constructed solar car park canopies in three car parking areas, equipped with accompanying battery storage. The full network of solar panels is set to generate approximately 4,000MWh per year. This is a huge amount of energy and is sufficient to power over 1,300 average three-bedroom houses for one year.

    The energy generated will meet around 40% of the entire site’s electricity usage and will mean, on very sunny days and weekends, excess power can be released to the grid. The project is estimated to prevent more than 900 tonnes of carbon dioxide emissions per year.

    The completion of the solar panels and battery storage installation marks a significant milestone in Lakeside’s and Portsmouth City Council’s journey towards sustainability and greener energy, in line with the Council’s Net Zero ambitions.

    The Energy Services and Building Projects teams at Portsmouth City Council have been working with solar panel installation contractor, Custom Solar, to get the panels up and running at Lakeside.

    Cabinet Member for Greening the City and Climate Action Cllr Kimberly Barrett said: “We are thrilled to have reached the final stage of this groundbreaking project! All teams have been dedicated and relentless in their efforts towards completion. It’s truly inspiring to see another solar project land at Portsmouth and make a huge step towards greener energy and our Net Zero goal.”

    Simon Bateman, Asset Manager at Lakeside North Harbour, added: “This is an excellent opportunity for Lakeside businesses to benefit from the council’s Net Zero target at no direct cost to them. We are committed to creating a sustainable and environmentally responsible workspace for the businesses based here, the largest of its kind in this region. We recognise our responsibility to reduce environmental impacts, enhance sustainability, and contribute positively to the community and economy.

    “This solar project will enable us to have a green electric supply for all 60 businesses at Lakeside. The environment is a fundamental core value at Lakeside – from creating the right atmosphere for our occupier community to driving sustainability and efficient use of our valuable resources.”

     To keep up to date on their projects, follow Lakeside North Harbour on LinkedIn.

    To keep up to date on the council’s energy and building projects, follow the Portsmouth City Council building services on LinkedIn.

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Mr. Ian Martin of the United Kingdom – Head of the Strategic Assessment of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)

    Source: United Nations MIL-OSI 2

    he Secretary-General announced today the appointment of Ian Martin of the United Kingdom as Head of the Strategic Assessment, as part of his UN80 initiative, of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA).
     
    The Secretary-General is tasking Mr. Martin with conducting the Strategic Assessment in order to review UNRWA’s impact; implementation of its mandate under present political, financial, security and other constraints; and, consequences and risks, for Palestine
    Refugees.  He has further been tasked with identifying options for action, by Member States and/or the United Nations, and considering overall United Nations mandates provided by the General Assembly and the Security Council.
     
    Mr. Martin has had a distinguished service within the United Nations.  He was involved in a number of strategic reviews, most recently as the Lead of the Independent Strategic Review of the United Nations Mission in Somalia and before then as a member of the
    High-Level Independent Panel on Peace Operations.  Mr. Martin served as Special Representative of the Secretary-General and Head of the United Nations Support Mission in Libya and in various positions in other UN field operations, including in Timor-Leste,
    Nepal, Eritrea, Rwanda and Haiti.
     
    Mr. Martin holds a Master of Arts in history and economics from Cambridge University, United Kingdom, and studied development economics at Harvard University, United States of America.
     

    MIL OSI United Nations News –

  • MIL-OSI: AppTech Unveils Revolutionary CoreBanking Solution, Projecting Explosive Growth with Innovative Client Offerings

    Source: GlobeNewswire (MIL-OSI)

    CARLSBAD, Calif., April 22, 2025 (GLOBE NEWSWIRE) — AppTech Payments Corp. (NASDAQ: APCX) has launched its groundbreaking CoreBanking solution, seamlessly integrated with the FINZEO Platform, alongside its first banking client. This milestone signals AppTech’s entry into digital banking and retail financial services, with the company bringing both cutting-edge products and customers directly to financial institutions.

    Transforming Banking Efficiency and Revenue Potential
    The CoreBanking solution will help banks achieve operational efficiency, enter new markets, eliminate reliance on antiquated technologies, and remove the entry barriers of entry. CoreBanking delivers Digital Onboarding, FedWire, FedACH, Compliance, Virtual Bank Accounts, Risk Management, Ledger, FedNow, and Physical and Virtual Cards.

    Coupled with the tightly integrated FINZEO client offering, banks can realize the benefits of these innovative solutions faster by leveraging AppTech’s existing client base for transaction fees and deposits ready for bank launch. AppTech expects sustained revenue growth through 2025 and beyond through sources not previously available.

    “Our CoreBanking solution is more than a product—it changes how banks can operate and grow,” said Thomas DeRosa, CEO of AppTech. “By integrating our technology with unmatched client acquisition capabilities, we eliminate inefficiencies and drive revenue at scale.”

    Projected Growth and Scalability
    AppTech’s CoreBanking launch is expected to generate $40,000 in revenue in its first week, with monthly revenue projected to scale beyond $500,000 by the end of 2025. With our current pipeline of banks integrating the FINZEO platform, the CoreBanking solution is primed for rapid adoption, including expansion to community banking clients in the FINZEO pipeline. As additional partnerships and product launches roll out in April, AppTech is poised for transformational growth, increasing to millions of transactions. AppTech has restructured its management team and upgraded its technology to drive revenue through the final three quarters of 2025. With a visionary strategy, enhanced staffing, and a growing base of larger clients, the company intends to redefine digital banking and payment solutions.

    About AppTech Payments Corp.

    AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure. For more information, please visit apptechcorp.com.

    Forward-Looking Statements

    This press release may contain forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the Company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

    AppTech Payments Corp.

    760-707-5959

    info@apptechcorp.com

    The MIL Network –

  • MIL-OSI: QNB Corp. Reports Earnings For First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    QUAKERTOWN, Pa., April 22, 2025 (GLOBE NEWSWIRE) — QNB Corp. (the “Company” or “QNB”) (OTCQX: QNBC), the parent company of QNB Bank (the “Bank”), reported net income for the first quarter of 2025 of $2,578,000, or $0.69 per share on a diluted basis. This compares to net income of $2,594,000, or $0.71 per share on a diluted basis, for the same period in 2024.

    For the first quarter of 2025, the annualized rate of return on average assets and average shareholders’ equity was 0.54% and 6.24%, respectively, compared with 0.59% and 6.53%, respectively, for the first quarter 2024.

    The operating performance of the Bank, a wholly-owned subsidiary of QNB Corp., improved for the quarter ended March 31, 2025, in comparison with the same period in 2024, due primarily to improvement in the interest margin causing a $2,229,000 increase in net interest income and an increase in non-interest income of $99,000; this was partly offset by an increase in the provision for credit losses on loans and unfunded commitments of $644,000 and an increase in non-interest expense of $483,000. The change in contribution from QNB Corp. for the quarter ended March 31, 2025, compared with the same period in 2024, is primarily due to a decrease in net interest income of $937,000, related to the subordinated debt issuance in 2024.

    The following table presents disaggregated net income (loss):

      Three months ended,        
      3/31/2025     3/31/2024     Variance  
    QNB Bank $ 3,292,000     $ 2,331,000     $ 961,000  
    QNB Corp   (714,000 )     263,000       (977,000 )
    Consolidated net income $ 2,578,000     $ 2,594,000     $ (16,000 )
                           

    Total assets as of March 31, 2025 were $1,896,189,000 compared with $1,870,894,000 at December 31, 2024. Total cash and cash equivalents increased $30,844,000, or 60.8%, to $81,557,000, primarily due to increases in customer deposits. Loans receivable decreased $3,886,000, or 0.3%, to $1,212,162,000. Total deposits increased $36,014,000, or 2.2%, to $1,664,555,000. Short-term borrowing declined $10,545,000, or 19.6%.

    “The Bank continued to navigate evolving fiscal policy decisions, unprecedented economic uncertainty, and market impacts, which resulted in relatively flat deposit and loan growth for the quarter,” said David W. Freeman, President and Chief Executive Officer. Freeman continued, “We are pleased with the growth in net interest income at an all-time high in the first quarter, driven by an increase in average interest rates received on our loan portfolio, combined with a decrease in average interest rates paid on deposit balances. Furthermore, we believed it prudent to modestly increase our loan loss reserves in the first quarter and will continue to closely watch asset quality as the economic environment develops while looking for responsible growth opportunities for the success of our company.”

    Net Interest Income and Net Interest Margin

    Net interest income for the quarter ended March 31, 2025 totaled $22,198,000, an increase of $2,629,000, from the same period in 2024. Net interest margin was 2.51% for the first quarter of 2025 and 2.39% for the same period in 2024.

    The yield on earning assets was 4.81% for the first quarter of 2025, compared with 4.57% in the first quarter of 2024; an increase of 24 basis points. The cost of interest-bearing liabilities was 2.76% for the quarter ended March 31, 2025, compared with 2.66% for the same period in 2024, an increase of 10 basis points.

    Proceeds from the growth in average deposits and the issuance of both long-term and subordinated debt over the past year were invested in loans, higher-yielding securities and used to pay down short-term borrowings. Loan growth was primarily in commercial real estate, which comprised 45.5% of average earning assets in the three months of 2025 compared with 44.7% for the same period in 2024, and the increases in both rates and volume in commercial real estate loans majorly contributed to the 37 basis-point increase in the yield on loans. The increase in the available-for-sale investments portfolio was primarily in corporate debt securities. The 23-basis point increase in rate on investments was primarily due to the 129-basis point increase in the yield on corporate debt securities. The average rate paid on interest-bearing deposits decreased 12 basis points; this was more than offset by the issuance of subordinated debt which was the primary contributor to the increase in the cost of funds of ten basis points.

    Asset Quality, Provision for Credit Losses on Loans and Allowance for Credit Losses

    QNB recorded $551,000 in the provision for credit losses on loans in the first quarter of 2025 compared to a $93,000 reversal in the provision in the first quarter of 2024. QNB’s allowance for credit losses on loans of $9,298,000 represents 0.77% of loans receivable at March 31, 2025, compared to $8,744,000, or 0.72% of loans receivable at December 31, 2024. The five basis point increase in the allowance for credit losses on loans was primarily due to an increase in reserves for collateral dependent loans and deterioration in the economic outlook. Net loan recoveries were $3,000 for the quarter ended March 31, 2025, compared with charge-offs of $21,000 for the same period in 2024. Annualized net loan recoveries for the quarter ended March 31, 2025 were 0.00% and annualized net loan charge-offs were 0.01% for the quarter ended March 31, 2024, of average loans receivable, respectively.

    Total non-performing loans, which represent loans on non-accrual status and loans past due 90 days or more and still accruing interest, were $8,407,000, or 0.69% of loans receivable at March 31, 2025, compared with $1,975,000, or 0.16% of loans receivable at December 31, 2024. The increase was primarily due to one commercial customer relationship. In cases where there is a collateral shortfall on non-accrual loans, specific reserves have been established based on updated collateral values even if the borrower continues to pay in accordance with the terms of the agreement. Commercial loans classified as substandard or doubtful loans totaled $34,448,000 at March 31, 2025, compared with $34,301,000 at December 31, 2024; these were comprised primarily of commercial real estate loans.

    Non-Interest Income

    Total non-interest income was $1,584,000 for the first quarter of 2025 compared with $1,836,000 for the same period in 2024. There were no realized and unrealized gain/loss on securities for the quarter ended March 31, 2025 compared to a net gain of $347,000 in the same period in 2024. Excluding the net realized and unrealized gains on securities, non-interest income increased $95,000, or 6.4%.

    Fees for service to customers increased $27,000 for the quarter ended March 31, 2025, as overdraft fees increased $12,000 and other deposit-related fees increased $15,000. ATM and debit card increased $20,000 due to volume. Retail brokerage and advisory income increased $48,000 to $141,000 for the same period. Other non-interest income decreased $3,000 for the same period due to a decline in merchant fee income of $24,000, partly offset by an increase in letter of credit fees of $11,000 and title company income of $8,000.

    Non-Interest Expense

    Total non-interest expense was $9,369,000 for the first quarter of 2025 compared with $8,833,000 for the same period in 2024. Salaries and benefits expense increased $58,000, or 1.2%, to $5,032,000 when comparing the two quarters. Salary expense and related payroll taxes increased $199,000, or 4.8%, to $4,344,000 during the first quarter of 2025 compared to the same period in 2024, primarily due to pay increases. Benefits expense decreased $141,000, or 17.0%, when comparing the two periods primarily due to a reduction in medical costs.

    Net occupancy and furniture and equipment expense increased $221,000, or 14.6%, to $1,736,000 for the first quarter of 2025 primarily due to software maintenance costs and depreciation. Other non-interest expense increased $257,000, or 11.0%, when comparing first quarter of 2025 with the same period in 2024 due to an increase in bank shares tax of $167,000, due to timing of tax credits and increased capital, an increase in write-offs relating to fraud on customer accounts of $77,000, and an increase in director fees of $79,000, as fees were bought in line with peer groups. These increases were partly offset by decreases in marketing expense of $77,000, due to timing of events and promotions.

    Income Taxes

    Provision for income taxes decreased $39,000 to $624,000 in the first quarter of 2025 due to decreased pre-tax income, compared with the same period in 2024. The effective tax rate for the quarter ended March 31, 2025 was 19.5% compared with 20.4% for the same period in 2024.

    About the Company

    QNB Corp. is the holding company for QNB Bank, which is headquartered in Quakertown, Pennsylvania. QNB Bank currently operates twelve branches in Bucks, Lehigh and Montgomery Counties and offers commercial and retail banking services in the communities it serves. In addition, the Company provides securities and advisory services under the name of QNB Financial Services through a registered Broker/Dealer and Registered Investment Advisor, and title insurance as a member of Laurel Abstract Company LLC. More information about QNB Corp. and QNB Bank is available at QNBBank.com.

    Forward Looking Statement

    This press release may contain forward-looking statements as defined in the Private Securities Litigation Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company’s financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including “Item lA. Risk Factors,” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

    Contacts: David W. Freeman Jeffrey Lehocky
      President & Chief Executive Officer Chief Financial Officer
      215-538-5600 x-5619 215-538-5600 x-5716
      dfreeman@QNBbank.com jlehocky@QNBbank.com
         
    QNB Corp.  
    Consolidated Selected Financial Data (unaudited)  
    (Dollars in thousands)                            
    Balance Sheet (Period End) 3/31/25     12/31/24     9/30/24     6/30/24     3/31/24  
    Assets $ 1,896,189     $ 1,870,894     $ 1,841,563     $ 1,761,487     $ 1,716,081  
    Cash and cash equivalents   81,557       50,713       104,232       76,909       50,963  
    Investment securities                            
    Debt securities, AFS   547,138       546,559       510,036       460,418       481,596  
    Equity securities   —       —       2,760       7,233       6,217  
    Loans held-for-sale   248       664       294       786       —  
    Loans receivable   1,212,162       1,216,048       1,171,361       1,162,310       1,122,616  
    Allowance for credit losses on loans   (9,298 )     (8,744 )     (8,987 )     (8,858 )     (8,738 )
    Net loans   1,202,864       1,207,304       1,162,374       1,153,452       1,113,878  
    Deposits   1,664,555       1,628,541       1,626,284       1,572,839       1,536,188  
    Demand, non-interest bearing   203,666       183,499       190,240       190,333       188,260  
    Interest-bearing demand, money market and savings   1,083,011       1,063,584       1,055,409       1,003,813       990,451  
    Time   377,878       381,458       380,635       378,693       357,477  
    Short-term borrowings   43,299       53,844       22,918       49,066       55,088  
    Long-term debt   30,000       30,000       30,000       30,000       20,000  
    Subordinated debt   39,118       39,068       39,030       —       —  
    Shareholders’ equity   108,223       103,349       105,340       96,885       93,686  
                                 
    Asset Quality Data (Period End)                            
    Non-accrual loans $ 8,651     $ 1,975     $ 1,696     $ 2,078     $ 2,001  
    Loans past due 90 days or more and still accruing   —       —       —       —       —  
    Non-performing loans   8,651       1,975       1,696       2,078       2,001  
    Other real estate owned and repossessed assets   —       —       —       —       —  
    Non-performing assets $ 8,651     $ 1,975     $ 1,696     $ 2,078     $ 2,001  
                                 
    Allowance for credit losses on loans $ 9,298     $ 8,744     $ 8,987     $ 8,858     $ 8,738  
                                 
    Non-performing loans / Loans excluding held-for-sale   0.71 %     0.16 %     0.14 %     0.18 %     0.18 %
    Non-performing assets / Assets   0.46 %     0.11 %     0.09 %     0.12 %     0.12 %
    Allowance for credit losses on loans / Loans excluding held-for-sale   0.77 %     0.72 %     0.77 %     0.76 %     0.78 %
                                           
    QNB Corp.
    Consolidated Selected Financial Data (unaudited)
    (Dollars in thousands, except per share data) Three months ended,
    For the period: 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24
    Interest income $ 22,198   $ 22,209   $ 21,945   $ 20,345   $ 19,569  
    Interest expense   10,661     11,234     10,818     9,753     9,401  
    Net interest income   11,537     10,975     11,127     10,592     10,168  
    (Reversal in provision) provision for credit losses   550     (255 )   159     114     (86 )
    Net interest income after provision for credit losses   10,987     11,230     10,968     10,478     10,254  
    Non-interest income:            
    Fees for services to customers   447     454     469     427     420  
    ATM and debit card   656     708     691     705     636  
    Retail brokerage and advisory income   141     118     139     126     93  
    Net realized gain (loss) on investment securities   –     1,414     224     (1,096 )   377  
    Unrealized (loss) gain on equity securities   –     (1,344 )   143     1,016     (30 )
    Net (loss) gain on sale of loans   18     (3 )   19     (2 )   15  
    Other   322     298     282     289     325  
    Total non-interest income   1,584     1,645     1,967     1,465     1,836  
    Non-interest expense:            
    Salaries and employee benefits   5,032     5,079     4,650     5,038     4,974  
    Net occupancy and furniture and equipment   1,736     1,653     1,531     1,481     1,515  
    Other   2,601     2,349     2,455     2,415     2,344  
    Total non-interest expense   9,369     9,081     8,636     8,934     8,833  
    Income before income taxes   3,202     3,794     4,299     3,009     3,257  
    Provision for income taxes   624     743     961     544     663  
    Net income $ 2,578   $ 3,051   $ 3,338   $ 2,465   $ 2,594  
               
    Share and Per Share Data:          
    Net income – basic $ 0.70   $ 0.83   $ 0.91   $ 0.67   $ 0.71  
    Net income – diluted $ 0.69   $ 0.83   $ 0.91   $ 0.67   $ 0.71  
    Book value $ 29.17   $ 27.96   $ 28.57   $ 26.34   $ 25.57  
    Cash dividends $ 0.38   $ 0.37   $ 0.37   $ 0.37   $ 0.37  
    Average common shares outstanding -basic   3,699,854     3,688,078     3,679,799     3,665,695     3,655,176  
    Average common shares outstanding -diluted   3,713,141     3,695,518     3,682,773     3,665,695     3,655,176  
    Selected Ratios:          
    Return on average assets   0.54 %   0.64 %   0.72 %   0.55 %   0.59 %
    Return on average shareholders’ equity   6.24 %   7.36 %   8.13 %   6.14 %   6.53 %
    Net interest margin (tax equivalent)   2.51 %   2.38 %   2.48 %   2.46 %   2.39 %
    Efficiency ratio (tax equivalent)   70.65 %   71.16 %   65.27 %   73.26 %   72.73 %
    Average shareholders’ equity to total average assets   8.67 %   8.63 %   8.80 %   8.97 %   8.98 %
    Net loan charge-offs (recoveries) $ (3 ) $ 1   $ 25   $ 12   $ 21  
    Net loan charge-offs (recoveries) – annualized / Average loans excluding held-for-sale   0.00 %   0.00 %   0.01 %   0.00 %   0.01 %
    Balance Sheet (Average)          
    Assets $ 1,932,938   $ 1,908,914   $ 1,856,034   $ 1,798,040   $ 1,778,585  
    Investment securities (AFS & Equities)   626,557     614,329     552,323     569,135     578,615  
    Loans receivable   1,210,303     1,193,949     1,158,731     1,139,874     1,108,836  
    Deposits   1,633,196     1,635,629     1,600,925     1,542,661     1,497,692  
    Shareholders’ equity   167,491     164,823     163,274     161,340     159,739  
                                   
    QNB Corp. (Consolidated)  
    Average Balances, Rate, and Interest Income and Expense Summary (Tax-Equivalent Basis)  
                                       
      Three Months Ended  
      March 31, 2025     March 31, 2024  
      Average     Average           Average     Average        
      Balance     Rate     Interest     Balance     Rate     Interest  
    Assets                                  
    Investment securities:                                  
    U.S. Treasury $ 20,155       4.38 %   $ 217     $ 6,782       5.33 %   $ 90  
    U.S. Government agencies   75,960       1.18       224       84,951       1.17       248  
    State and municipal   105,256       2.86       754       108,173       3.42       924  
    Mortgage-backed and CMOs   363,641       2.43       2,208       365,983       2.59       2,373  
    Corporate debt securities and mutual funds   61,545       6.88       1,058       6,707       5.59       94  
    Equities   –       –       –       6,019       3.71       56  
    Total investment securities   626,557       2.85       4,461       578,615       2.62       3,785  
    Loans:                                  
    Commercial real estate   857,600       5.71       12,069       775,135       5.34       10,300  
    Residential real estate   114,271       4.33       1,238       108,922       3.92       1,066  
    Home equity loans   67,973       6.41       1,074       62,269       6.81       1,055  
    Commercial and industrial   148,680       7.41       2,717       140,293       7.50       2,615  
    Consumer loans   3,446       7.68       65       3,644       8.10       73  
    Tax-exempt loans   18,795       4.15       192       18,641       3.82       177  
    Total loans, net of unearned income*   1,210,765       5.81       17,355       1,108,904       5.54       15,286  
    Other earning assets   47,641       4.44       522       46,645       5.51       639  
    Total earning assets   1,884,963       4.81       22,338       1,734,164       4.57       19,710  
    Cash and due from banks   13,226                   12,769              
    Allowance for credit losses on loans   (8,739 )                 (8,946 )            
    Other assets   43,488                   40,598              
    Total assets $ 1,932,938                 $ 1,778,585              
                                       
    Liabilities and Shareholders’ Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand $ 380,293       1.01 %     944     $ 321,904       0.80 %     643  
    Municipals   149,579       3.95       1,456       131,887       4.81       1,577  
    Money market   256,265       2.88       1,818       227,872       3.56       2,015  
    Savings   279,657       1.30       893       298,353       1.28       949  
    Time < $100   178,500       3.79       1,670       157,712       3.76       1,473  
    Time $100 through $250   154,125       4.25       1,613       127,613       4.34       1,377  
    Time > $250   48,785       4.31       518       49,756       4.22       522  
    Total interest-bearing deposits   1,447,204       2.50       8,912       1,315,097       2.62       8,556  
    Short-term borrowings   47,529       3.89       456       87,441       2.88       625  
    Long-term debt   30,111       4.73       356       20,000       4.36       220  
    Subordinated debt   39,092       9.59       937       —       —       —  
    Total borrowings   116,732       6.08       1,749       107,441       3.16       845  
    Total interest-bearing liabilities   1,563,936       2.76       10,661       1,422,538       2.66       9,401  
    Non-interest-bearing deposits   185,992                   182,595              
    Other liabilities   15,519                   13,713              
    Shareholders’ equity   167,491                   159,739              
    Total liabilities and                                  
    shareholders’ equity $ 1,932,938                 $ 1,778,585              
    Net interest rate spread         2.05 %                 1.91 %      
    Margin/net interest income         2.51 %   $ 11,677             2.39 %   $ 10,309  
    Tax-exempt securities and loans were adjusted to a tax-equivalent basis and are based on the Federal corporate tax rate of 21%  
    Non-accrual loans and investment securities are included in earning assets.  
    * Includes loans held-for-sale  

    The MIL Network –

  • MIL-OSI USA: Warren, Massachusetts Lawmakers Sound Alarm on Trump Cuts to National Endowment for the Humanities Staff, Grants

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    April 22, 2025

    “We write to seek answers about why you are crippling an agency that punches so far above its weight and is essential to enabling access to libraries, museums, archives, historic sites and more for Massachusetts residents and Americans in every state.” 

    Lawmakers highlight Massachusetts impacts, including canceled projects which helped state capture and preserve history and culture, promote learning, make humanities more accessible

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.), along with Representatives Jake Auchincloss (D-Mass.), Bill Keating (D-Mass.), Stephen Lynch (D-Mass.), Jim McGovern (D-Mass.), Seth Moulton (D-Mass.), Richard Neal (D-Mass.), Ayanna Pressley (D-Mass.), and Lori Trahan (D-Mass.), sent a letter to Michael McDonald, Acting Chairman of the National Endowment for the Humanities (NEH), regarding the impacts of recent staffing cuts and attempts to cancel grants in Massachusetts and across the country. 

    During the week of April 1, 2025, following the Department of Government Efficiency’s (DOGE) recommendations, a majority of NEH staff were placed on administrative leave and hundreds of grants were canceled. In the following days, state humanities councils and other grant recipients received emails notifying them that their funding would be terminated immediately and that the Trump administration would be “repurposing its funding allocations in a new direction in furtherance of the president’s agenda.”

    “We write to seek answers about why you are crippling an agency that punches so far above its weight and is essential to enabling access to libraries, museums, archives, historic sites and more for Massachusetts residents and Americans in every state,” wrote the lawmakers.

    Congressionally appropriated NEH program funds directly benefit local communities. The NEH was founded by Congress in 1965 to “promote progress and scholarship in the humanities and the arts in the United States,” and the agency enables work in the humanities by funding libraries, museums, archives, historic sites, media outlets, research institutions, educators and independent scholars. These cuts will have devastating impacts on cultural institutions and scholarship in Massachusetts and across the country.

    The Trump administration’s actions put tremendous financial strain on researchers, universities, and institutions. According to one institution in Massachusetts, the termination notices sent to individual recipients of NEH grants included language that the individuals will remain “subject to audit.” Grant recipients now face concerns that they will have to repay their funds to NEH at an undetermined time.

    NEH-funded projects in Massachusetts — including research projects to better understand the impact of war on naval veterans and their families, projects to understand the role of historic textile mills in the American industrial revolution, and programs supporting museums’ efforts to digitize, archive, and modernize the products of Massachusetts art and culture — have enriched the state’s ability to capture and preserve history and culture, promote new knowledge and learning, and make the humanities more accessible.

    “These actions at NEH mark another instance of overreach by the Trump administration, causing more destruction and devastation to research institutions and scholars across the country, but providing little in savings,” wrote the lawmakers.

    Senator Warren has consistently pressed for answers on other federal funding cuts impacting Massachusetts, including those from the National Institutes of Health (NIH) and the National Science Foundation (NSF) causing “ongoing chaos” and harm to research institutions across Massachusetts.

    MIL OSI USA News –

  • MIL-OSI: Unity Bank Recognized Again on Hovde Group’s High-Performer List

    Source: GlobeNewswire (MIL-OSI)

    CLINTON, N.J., April 22, 2025 (GLOBE NEWSWIRE) — Unity Bank has been named one of the top-performing small banks in the United States by the Hovde Group, a nationally respected financial advisory and research firm. This marks the third time Unity Bancorp, Inc. (NASDAQ: UNTY) has been included in Hovde’s annual high-performer list, underscoring the bank’s sustained excellence in financial management and customer service.

    The 2025 edition of Hovde Group’s report evaluates small banks with market capitalizations between $100 million and $1.5 billion, ranking them on key financial metrics such as pre-tax pre-provision net revenue, efficiency ratios, loan and deposit growth, tangible book value growth, and employee productivity.

    “Being recognized again by the Hovde Group reflects the consistent strength of our strategy, the dedication of our employees, and the continued trust of our customers,” said James Hughes, President & CEO of Unity Bank. “This recognition reinforces our focus on long-term, responsible growth.”

    Unity Bank joins a select group of institutions that have been recognized multiple times for outstanding performance in the small bank sector.

    More information about the full report and methodology is available through Hovde Group’s research platform or via coverage from financial publications.

    About Unity Bancorp, Inc.

    Unity Bancorp, Inc. (NASDAQ: UNTY) is the parent company of Unity Bank, a financial services organization based in Clinton, New Jersey. Unity Bank operates 21 branches across New Jersey and the Lehigh Valley, Pennsylvania, offering community-focused commercial banking services, including deposit accounts, loans, and digital services. For details, visit unitybank.com or call 800-618-BANK (800-618-2265). Unity Bank is a member of the Federal Deposit Insurance Corporation (FDIC). To learn about FDIC insurance, visit FDIC.gov.

    Contact:
    Crystal Rose
    Marketing Director
    (908) 713-4310
    Crystal.Rose@unitybank.com

    The MIL Network –

  • MIL-OSI: Planisware awarded a B rating by CDP rewarding its performance in addressing climate change

    Source: GlobeNewswire (MIL-OSI)

    Planisware awarded a “B” rating by CDP rewarding
    its performance in addressing climate change

    Paris, France, April 22, 2025 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, has been recognized by the CDP (Carbon Disclosure Project) for the consistency of its efforts to address climate change, earning a “B” score in its first-ever assessment.

    This independent, non-profit international organization assesses the commitment of companies to transparency and environmental transition every year. This first recognition highlights the efforts made by Planisware and encourages it to continue its dynamic of continuous improvement.

    Loïc Sautour, CEO of Planisware, said: “Receiving a B rating from the CDP in the first year of applying is remarkable and reflects our commitment to sustainability and climate risk management. This recognition encourages us to go even further in integrating responsible practices at all levels of our activity. I would like to congratulate all the employees who contribute every day to our collective effort in terms of environmental commitment.”

    With a “B” score, Planisware ranks among the world’s top performers in terms of climate commitment. This distinction reflects the integration of CSR at the heart of its strategy, making environmental issues a central pillar of its operations. Planisware intends to continue its actions in favor of transparency and climate commitment, using this first assessment as a basis for further structuring and deepening its initiatives.

    The B score indicates that Planisware is deploying coordinated action, with room for progress towards leadership in environmental management. These concrete actions to reduce the Group’s carbon footprint and improve its environmental performance focus on the energy efficiency of buildings, data center consumption, eco-design to improve the performance of its software, travel and commuting policy, and the extension of the lifespan of consumables and equipment, with the direct engagement of key suppliers.

    These actions resulted in concrete progress in 2024, including a 19% decrease in Planisware’s total greenhouse gas (GHG) emissions compared to 2023.

    The main achievements of 2024 included:

    • Optimization of software performance and eco-design: Infrastructure and source code optimization has been prioritised to improve the energy efficiency of Planisware’s software and reduce its environmental footprint.
    • Energy efficiency: Since 2024, the energy consumption of Planisware’s data centers has been covered for the most part by green electricity.
    • Employee engagement and awareness: Planisware raises employee awareness of environmental issues through training and the integration of sustainability into its managerial strategy, thus spreading a culture of sustainability throughout the Group.
    • Waste reduction and circular economy: In 2024, 24.1% of the non-hazardous waste generated by Planisware was recycled. Additionally, the elimination of single-use plastics has been implemented to limit the Group’s carbon footprint.

    With the world’s largest environmental database, CDP scores are widely used to guide investment and procurement decisions towards a zero-carbon, sustainable and resilient economy. CDP ensures a better understanding and integration of the European Sustainability Reporting Standards (ESRS) and encourages the adoption of international sustainability standards.

    Contact

    Investor Relations: Benoit d’Amécourt

    benoit.damecourt@planisware.com
    +33 6 75 51 41 47

    Media: Brunswick Group
    Hugues Boëton / Tristan Roquet Montégon
    planisware@brunswickgroup.com
    +33 6 79 99 27 15 / +33 6 37 00 52 57

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products. 

    With circa 750 employees across 16 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities. 

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit: https://planisware.com/ and connect with Planisware on LinkedIn.

    Attachment

    The MIL Network –

  • MIL-OSI: Rapid aging of world population will transform global property & casualty insurance industry by 2050

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Fahd Pasha
    Tel.: +1 647 860 3777
    E-mail: Fahd.Pasha@capgemini.com

    Rapid aging of world population will transform global property & casualty insurance industry by 2050

    • Global dependency ratio set to rise by 2050 there will be 26 seniors for every 100 working-age people, up from 16 today
    • Aging population is a key trend in forecasted 4.4% CAGR for global commercial insurance lines, 3.3% for personal insurance lines
    • 88% of insurers recognize the importance of more tech-enabled underwriting, but only 17% say they have the right capabilities

    Paris, April 22, 2025 – The Capgemini Research Institute’s World Property and Casualty Insurance Report, published today, shows how the aging of the world’s population will transform the industry globally by 2050. The report details how a shift in the ratio of seniors- to-working age adults will play a critical role in changing habits around consumption, transportation, and use of technology, with major implications for both commercial and personal P&C insurance. These trends will drive the industry towards a more prevention-focused, modular approach with real-time risk monitoring, as well as more technology-enabled underwriting models.

    The global population is aging, transforming consumer behavior
    The aging of the world population in the coming decades implies a major transformation in the workforce, with fewer working-age adults per retired senior. By 2050, it is expected that the global dependency ratio will rise to 26%, compared with 16% in 2024, meaning that for every 100 working-age people, there will be 26 seniors to support, up from today’s 16. Excluding the population of Africa, which is relatively young, the dependency ratio will reach 31%, up from 18%.

    This transition has profound implications for consumer behavior and the structure of the broader economy. As the global population grows older, consumer spending habits are expected to shift, with a greater focus on spending on experiences rather than large, fixed purchases. The report found 45% of consumers expect to increase their spending on lifestyle enhancements such as travel, luxury goods and home renovations while 70% do not plan to buy an additional house or upgrade their current house to a bigger one.

    This move in spending habits, combined with trends towards greater urbanization and automation of technology, will have a significant impact on how P&C insurers serve their customers. For example, auto insurers are expected to transition towards commercial insurance and shared mobility coverage, as seniors drive less and rely more on rideshares. Equally, personal property insurance will have to evolve towards preventive, age-friendly options that address smaller, multi-generational homes. In the workplace, commercial lines will need to account for demographic-driven automation and altered risk profiles.

    “Monumental demographic shifts are set to have a major and direct impact on P&C insurers in the coming decades. Today, insurers should be analyzing their portfolios to understand these sensitivities and to ascertain their exposure in mature and transitioning markets. This will support them in developing service models that are optimized and future-proofed,” said Adam Denninger, Global Insurance Industry Leader at Capgemini. “Finally, having an edge on customer experience, made possible through AI, will also help protect insurers against a competitive race to the bottom on prices.”

    Interconnected risks could drive loss potential
    In addition, insurers will have to grapple with the implications of climate change, and its effect on an aging work force. According to research from Oxford Economics prepared for Capgemini, 98.5% of the world’s population will be at risk from drought and 80% will be at risk from excessive rainfall. With such climate volatility, coupled with urban risk concentration, insurers will see the rise of interconnected risks that drive loss potential. To assess these risks and develop more climate-minded strategies, insurers will need to further integrate climate risk data and predictive analytics to correlate risks and improve underwriting, cites the report.

    Rising to the P&C challenge –with data and AI
    A key feature of these new approaches will be the use of predictive insights and real-time intelligence in underwriting. The report found 88% of insurers recognize the critical future importance of advanced underwriting, yet only 17% have mature capabilities.

    To prepare for and adapt to the changing demographics, the report recommends that P&C insurers embrace novel approaches including:

    • Placing focus on changing customer behavior: recalibrating geographic footprints and developing age-sensitive service models
    • Operating model transformation: modernizing data architectures and leveraging AI and automation to build resilient systems and drive efficiency
    • Risk governance: implementing predictive underwriting insights and dynamic portfolio management

    All these approaches require a process of continuous evolution, with executives delivering on medium-term actions while boards address long-term strategic questions.

    Read the full report: https://www.capgemini.com/insights/research-library/world-property-and-casualty-insurance-report//

    Report Methodology
    For this report, the Capgemini Research Institute surveyed three primary sources: the 2025 Global Voice of the Customer Survey (which polled 5,016 P&C insurance customers in 13 countries), the 2025 Global Insurance Executives’ Survey (which included interviews with 274 senior insurance executives of leading P&C insurance companies across 15 markets), and the 2025 Global Macroeconomic Forecasts created in collaboration with a leading macro forecaster (which includes insights across 11 markets representing all three regions of the globe).

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.
    Visit us at www.capgemini.com/researchinstitute

    Attachment

    The MIL Network –

  • MIL-OSI Canada: Initial Applications Being Accepted for new Infrastructure Funding Program

    Source: Government of Canada regional news

    Released on April 22, 2025

    Starting today, eligible Saskatchewan communities are invited to submit applications for funding through the Provincial-Territorial stream of the Canadian Housing Infrastructure Fund (CHIF), with applications due by May 20.

    “Under the Canadian Housing Infrastructure Fund, communities will be able to invest in the vital municipal infrastructure that grows our economy, allows for new home construction and improves our overall quality of life,” Government Relations Minister Eric Schmalz said. “With our government’s contribution of more than $155 million, a total of over $340 million will be made available to enhance municipal infrastructure in Saskatchewan and I encourage all communities to start preparing for the significant intake planned for September.”

    CHIF will provide funding for communities to build or improve critical infrastructure related to drinking water, wastewater, stormwater and solid waste, supporting more homes throughout the province. 

    The agreement between Canada and Saskatchewan requires that a set amount of funding be committed by June 30, 2025. The Government of Saskatchewan’s initial intake is prioritizing those projects that have committed to housing outcomes, with additional intakes opening this fall. 

    During this initial intake, more than $23 million will be allocated through the competitive intake to Saskatchewan communities that have been approved for the federal Housing Accelerator Funding (HAF) and communities with at least 30,000 residents. At this time, Government Relations will be accepting applications from Regina, Saskatoon, Prince Albert, Moose Jaw, Moosomin, La Ronge, Radisson, Outlook and Humboldt. This ensures that the submitted projects meet the housing requirements under this CHIF cost-share requirement.

    The next intake for CHIF funding applications will begin in mid-September for all eligible Saskatchewan municipalities. Approval of the federal HAF program will not be required for the September intake.

    Under CHIF, the federal government will provide $187.9 million and the provincial government will provide more than $155 million to address housing-enabling infrastructure priorities.

    For complete eligibility requirements, the online application process and additional information, please visit: Government of Saskatchewan CHIF page.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: New public square unveiled in Gorton town centre

    Source: City of Manchester

    A new public square is now formally open, providing a new heart and focal point for the Gorton neighbourhood, while supporting the ongoing success of the existing Gorton Market.

    The new square is located off Garratt Way between the market and Tesco superstore, which has seen the conversion of part of the underused car park into a people-first space for the whole community.  

    The square has been designed following consultation with local people and community groups to create a splash of colour, a multi-functional space with new trees and plants, plenty of seats and space to host events and activities for children. Aa relaxing space for local people and visitors to eat and spend time.  

    Key features include: 

    • A flexible space that can host events and pop-up gatherings 
    • A raised market terrace area with seating for people to relax and an upgraded, outdoor trading space for Gorton Market  
    • A new nature area with significant planting to screen the square from Garratt Way and introduce biodiversity  
    • Imaginative interactive play features for young people  
    • Light projections to animate the space  
    • Improved and safer walking and cycling routes to and through the local area 
    • An altered road layout from Garratt Way, to slow traffic, reduce movement conflicts, but maintain access. 

    This new Square will enhance the existing market offer, helping to increase footfall and create a destination space. There will be further investment in the Square later this year  

    The project was funded by the UK Government. The square was built by Warden Construction.  

    This investment is part of the wider ambition for Gorton, set out in the Development Framework for the neighbourhood, and complements other investment in the local area, including the opening of the Gorton Hub community space in 2022. 

    The longer-term regeneration proposals for this part of Gorton include hundreds of new mixed tenure homes housing, including significant affordable homes, that will be built on Council-owned land overlooking the new square. 

    Find out more about the Council’s investment in the city’s high streets and district centres   

    Leader of the Council Bev Craig said:  

    “We are investing in our local communities across the city because we know how important Manchester’s high streets are to the people they serve. This isn’t just about accessing services easily – like health care and shops – this is also about creating pride in our local spaces and neighbourhoods our residents want to live in.  

    “We know that Manchester people want to live in welcoming, clean and green communities that support businesses, create jobs and provide opportunities for new affordable housing.  

    “This is what we’re doing in Gorton, Moston Lane, Withington high street and Wythenshawe town centre – and we have our sights set on other district centres, such as Newton Heath in north Manchester, for future investment that will continue our ongoing commitment to investing in the things our local communities want and need.” 

    Councillor Gavin White, Executive Member for Housing and Development said:  

    “This is an exciting milestone for Gorton and the next element of the investment plan, alongside the Gorton Hub, that is helping to create a real destination in this district centre.  

    “The new public space will host community events, support local businesses including Gorton Market, and create a new heart for the neighbourhood and community – ultimately supporting a strong local economy. 

    “New housing – including significant affordable housing – is also a key part of the regeneration plan for Gorton using Council-owned land close to the new town square, building the homes that the people of east Manchester need to thrive.” 

    Ian Williams, Managing Director at Warden Construction, added:

    “Warden Construction is incredibly proud to have played a key role in bringing this vibrant new public square to life for the people of Gorton. Seeing this underused space transformed into a welcoming heart for the community, one that complements the existing market and offers opportunities for connection and enjoyment for all ages, is truly rewarding. We believe this thoughtfully designed square will be a cornerstone of Gorton’s ongoing regeneration, and we look forward to seeing it thrive.”

    MIL OSI United Kingdom –

  • MIL-OSI: BloFin Among the First Four Exchanges Worldwide to Support Full Unified Trading Account (UTA)

    Source: GlobeNewswire (MIL-OSI)

    MAJURO, Marshall Islands, April 22, 2025 (GLOBE NEWSWIRE) — BloFin announces its achievement as one of the first four global exchanges—alongside OKX, Bybit, and Gate.io—to offer full Unified Trading Account (UTA) functionality to all users. This milestone reflects BloFin’s rapid product innovation and its commitment to delivering an institutional-grade trading experience, engineered for performance, capital efficiency, and operational flexibility.

    The latest update marks the complete rollout of Unified Trading Account Mode for all sub-accounts, allowing for the seamless management of Spot and Perpetual Futures positions within a single interface. At the same time, BloFin has officially launched Cross-Currency Margin Mode for sub-accounts, allowing users to utilize multiple asset types as collateral, enhancing margin efficiency and improving risk management across positions.

    To ensure a seamless transition and support a wide range of user preferences, the Master Account will continue operating under the traditional mode, ensuring a balanced experience for both new users and long-time traders. Sub-accounts, on the other hand, offer access to advanced features under the UTA framework.

    To accommodate diverse trading needs, BloFin offers three distinct account modes:

    • Spot Trading Mode – Tailored for users trading without leverage. This mode supports only spot trading and does not permit access to perpetual futures, copy trading (as trader or follower), trading bots, or the use of futures bonuses or vouchers.
    • Spot and Futures Trading Mode (Default) – Provides access to both spot and perpetual futures trading, along with copy trading functionality, trading bots, and the ability to utilize futures bonuses and vouchers. This mode also supports Single-Currency Margin, enabling users to consolidate margins across positions with the same settlement asset and offset unrealized PnL.
    • Multi-Currency Margin Mode – Available to accounts with an equity balance of 10,000 USDT or more, this mode allows users to post multiple cryptocurrencies as collateral for perpetual futures trading. Collateral is valued in USD, and margin obligations are shared across positions settled in different currencies. This mode enables cross-asset PnL offsetting but may also introduce spot trading liabilities and cross-currency liquidation risk.

    Together, these account modes provide traders with flexible, professional-grade tools to match their strategy, capital size, and risk appetite, underscoring BloFin’s ongoing commitment to building a comprehensive and customizable trading ecosystem.

    About BloFin
    ​BloFin is a top-tier cryptocurrency exchange that specializes in futures trading. The platform offers 480+ USDT-M perpetual pairs, spot trading, copy trading, API access, unified account management, and advanced sub-account solutions. Committed to security and compliance, BloFin integrates Fireblocks and Chainalysis to ensure robust asset protection. By partnering with top affiliates, BloFin delivers scalable trading solutions, efficient fund management, and enhanced flexibility for professional traders. ​As the constant sponsor of TOKEN2049, BloFin continues to expand its global presence, reinforcing its position as the place “WHERE WHALES ARE MADE.” For more information, visit BloFin’s official website at https://www.blofin.com.

    Follow us X（Twitter）｜Telegram｜Instagram｜YouTube

    Contact:
    Annio W.
    annio@blofin.io

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20355f39-b2ac-4b00-a620-44463c0f993d

    The MIL Network –

  • MIL-OSI: XRP News: XploraDEX Kicks Off Token Distribution—Presale Still Open for 7 More Days as Early Access Phase Expands

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, April 22, 2025 (GLOBE NEWSWIRE) — In a major milestone for the XploraDEX ecosystem, the $XPL Token distribution has officially begun. Early backers are now receiving their tokens as part of the initial wave of the platform’s rollout, marking the start of a highly anticipated shift from fundraising to activation. This token distribution phase will span the next 7 days, during which new investors still have a final opportunity to participate in the presale round at the original entry price.

    XploraDEX, the first AI-powered decentralized exchange native to the XRP Ledger, has taken the crypto world by storm over the past month, as Xploradex project has gained a strong reputation as the most innovative DeFi platform preparing to launch on XRPL.

    Purchase $XPL Token

    The distribution of $XPL tokens signals more than just delivery—it marks the beginning of real utility. Holders of $XPL will gain early access to a series of features rolling out in phases, including AI-enhanced trading dashboards, staking protocols, and advanced liquidity tools.

    Key highlights of the 7-day distribution and extended presale phase include:

    • Real-Time Token Distribution: Wallets are already being funded with $XPL tokens in batches, with full distribution expected to conclude within 7 days.
    • Presale Still Open: New investors can still join the presale before it officially ends, but only during this final 7-day window.
    • Upcoming Staking Pools: XploraDEX will launch staking options shortly after distribution concludes, rewarding early holders who commit to the ecosystem.
    • Governance Activation: $XPL holders will have the opportunity to vote on ecosystem upgrades and protocol proposals.
    • AI Dashboard Preview: A select group of early participants will be invited to test beta versions of the AI trading tools.

    Join $XPL Presale Now

    The $XPL presale has already drawn in thousands of wallets and notable XRP whales. The token’s unique position as the first AI-driven utility asset on XRPL has attracted traders, DeFi enthusiasts, and long-term ecosystem believers.

    “This next 7-day window is the final onboarding phase for the earliest supporters of the XploraDEX revolution,” said a spokesperson from the team. “Those who secure $XPL during this window will be part of the protocol from the beginning—not just as users, but as stakeholders.”

    Participate in $XPL Presale

    For those who believe in AI-driven DeFi, high-speed trading infrastructure, and community-first development, this is the final call to be part of XploraDEX’s foundational round.

    Secure Your $XPL Tokens Before the Presale Closes: https://sale.xploradex.io

    Live Updates on Launch: Website | $XPL Token Presale | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d359138-3d74-497f-a7d4-b3319531a664

    The MIL Network –

  • MIL-OSI: Flexi-View Lending Closes $20 Million Business Loan for Strategic Purchase in Frankfort, KY

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 22, 2025 (GLOBE NEWSWIRE) — Flexi-View Lending is proud to announce the successful closing of a $20 million business loan to support the purchase of goods for a growing enterprise in Frankfort, Kentucky. The funding, structured as an interest-only payment loan, offers a competitive 10% interest rate over a 48-month term.

    The loan, secured by real estate collateral, was designed to provide flexible financing for the borrower’s immediate operational needs while preserving capital for continued business expansion. This transaction underscores Flexi-View Lending’s commitment to delivering tailored financial solutions that empower businesses to seize strategic growth opportunities.

    “Our mission at Flexi-View Lending is to offer financial tools that meet the unique needs of businesses,” said Robert Salazar, Loan Manager at Flexi-View Lending. “This deal exemplifies how we structure customized lending products to support the ambitions of our clients—especially in key economic hubs like Frankfort.”

    With a focus on flexibility, speed, and personalized service, Flexi-View Lending continues to support businesses nationwide with innovative financing options that unlock potential and fuel progress.

    About Flexi-View Lending
    Flexi-View Lending is a trusted provider of business financing solutions, offering a wide range of loan products tailored to meet the needs of entrepreneurs and growing enterprises. With a dedication to client-focused service and adaptable terms, Flexi-View Lending empowers businesses to reach new heights.

    For more information about Flexi-View Lending and its suite of real estate investment financing products, visit www.flexi-viewlending.com.

    Media Contact:
    Robert Salazar
    Flexi-View Lending
    (209) 782-8062
    ron@flexi-viewlending.com
    www.flexi-viewlending.com

    The MIL Network –

  • MIL-OSI Russia: Control over migrant transfers to be strengthened – Prosecutor General’s Office approves proposal

    Translartion. Region: Russians Fedetion –

    Sours: Mainfin Bank –

    How does the Prosecutor General’s Office plan to strengthen control over migrants?

    The Russian Prosecutor’s Office supports the proposal to strengthen supervision of migrants’ financial transactions. The agency noted that foreigners often participate in fraudulent schemes and become mules (sometimes unknowingly). Registration bank cards in the name of migrants in the country is put on stream – non-residents are brought to the offices credit institutions “by buses”.

    The Prosecutor General’s Office believes it would be appropriate to organize information exchange between financial institutions and migration control agencies – supervision will help to understand where foreigners transfer money, as well as identify suspicious transactions. The measure is intended to reduce the number of violations in the economic security segment.

    What other measures of control over migrants may appear in Russia?

    Migration legislation in Russia is gradually becoming more stringent, but so far the laws being adopted have not produced the desired results. Dmitry Medvedev announced the need for new restrictions, calling for:

    prohibit foreigners with a criminal record from obtaining a residence permit or Russian citizenship; establish an exchange of data between agencies on the criminal records of migrants arriving in the country; eliminate abuses in conducting examinations for foreign citizens; strengthen control over institutions that conduct examinations, including by recording the procedures on video.

    “Migrants in Russia who have certificates of passing exams often do not even understand Russian – when receiving documents, mass violations are recorded,” the politician noted.

    Tightening of legislation may lead to an outflow of up to 1 million migrants from the Russian Federation. However, analysts are confident that “specialists” from the CIS countries may be replaced by citizens of the DPRK – it will be easier for Koreans to integrate into Russian society without causing discontent among the native inhabitants of Russia.

    15:00 04/22/2025

    Source:

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

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

    HTTPS: //Mainfin.ru/novosti/ Monkol-Snip-Portead-Migrants-Usilat-Gen-Prosecutor General-Odobril-Execution

    MIL OSI Russia News –

  • MIL-OSI USA: Supporting Next-Generation Workforce Development

    Source: US State of New York

    overnor Kathy Hochul today announced that work is now underway on the expanded Advanced Technology Center at Monroe Community College’s main campus in the Town of Brighton, Monroe County. The $69.6 million project will move critical technology programs from an outdated facility on West Henrietta Road to state-of-the-art facility at the Brighton campus, connecting them with the college’s science, technology, engineering and mathematics programs. The expansion will also provide a new home and accelerate the growth of the center’s Optical Systems Technology program. With a 2,400 percent increase in student enrollment since 2019, this first-of-its-kind in the nation, two-year training program provides a direct path to employment for hundreds of students and will support the state’s efforts to grow the semiconductor industry across Upstate New York.

    “My administration is committed to connecting New Yorkers with top-quality job opportunities”, Governor Hochul said. “MCC’s state-of-the-art Advanced Technology Center will deliver accelerated training programs, providing New Yorkers in the Finger Lakes with the skills they need to compete in today’s dynamic and ever-changing job market.”

    Governor Hochul originally announced the State’s investment of $13.75 million for campus upgrades in February of 2024, including $10 million for the center’s STEM addition. The ATC offers many career paths including automotive technician, precision tooling, heating, ventilating, air conditioning service technician and mechanic. With a new solar lab, the center will also be able to offer training in burgeoning fields — like solar photovoltaic panel installer, solar energy installation manager, and service technician. The expansion is expected to be open to students in the fall of 2026.

    Monroe County Executive Adam Bello said, “Monroe Community College is a cornerstone of workforce development in our region. We must ensure that we continue its history of innovation and job readiness by offering top quality education in high demand fields like automotive technician, HVAC technician and our first-in-the-nation optics program. Thank you to Dr. Deanna Burt-Nanna for her vision in taking MCC to the next level. Thank you to our federal representatives, Governor Hochul and our state delegation l for their continued support to keep Monroe Community College as a staple of workforce development in the nation.”

    Monroe Community College President Dr. DeAnna R. Burt-Nanna said, “We are excited to yet again be meeting the need for highly skilled, in-demand workers, this time through our new Advanced Technology Center. We are catalyzing bright futures for the community and its people through this center, which includes state-of-the-art equipment to enable students across a broad spectrum of fields to realize their dream of a secure career with a family-sustaining wage. We thank Governor Hochul, County Executive Bello, and Congressman Morelle for their partnership and continued investment in technological innovation, education, and training.”

    SUNY Chancellor John B. King, Jr. said, “Congratulations to Monroe Community College under the leadership of President Deanna Burt-Nanna. Today’s groundbreaking is a testament to MCC’s work advancing science, technology, engineering, and mathematics education and workforce development, and empowering students with opportunities to achieve their academic and professional goals. SUNY and our campuses are at the forefront of offering programs that support regional economic development and students’ upward mobility as a direct result of Governor Kathy Hochul’s leadership and the strength of our partners, particularly ESD.”

    The Advanced Technology Center (ATC) project further bolsters the states’ overall workforce development efforts in the advanced manufacturing and semiconductor industries. In the summer of 2024, Governor Hochul announced that the U.S. Department of Commerce had awarded a phase two Regional Technology and Innovation Hubs (Tech Hub) grant of $40 million to the New York Semiconductor Manufacturing and Research Technology Innovation Corridor (NY SMART-I Corridor) consortium. The consortium comprises the Finger Lakes, Western NY and Central NY regions and is convened by OneROC, the Buffalo-Niagara Partnership, and CenterState CEO respectively. It includes more than 80 members that include economic development organizations, government, workforce development, labor, industry, academia, and nonprofits. Over the next five years, The Tech Hub will work to build a world-class semiconductor ecosystem across a range of focus areas including equitable workforce development and talent placement, research and commercialization pathways. Managed by a multi-sector implementation governance committee, the consortium will serve as a key coordinating body for semiconductor industry growth alongside the Governor’s Office of Semiconductor Expansion, Management, and Integration housed within ESD.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Through our support for this important project, we are ensuring that the region’s workforce is equipped with the skills necessary to compete in today’s dynamic, ever-changing job market. The new Advanced Technology Center at MCC’s Brighton campus will grow a robust talent pipeline to align with employer needs, support local business development and move the innovation economy forward.”

    In February of 2025, Governor Hochul announced that the Finger Lakes, Mohawk Valley and Capitol Regions had been selected to advance to the planning stage of the $200 million One Network for Regional Advanced Manufacturing Partnerships (ON-RAMP) program. The regions join Central New York, in which Syracuse was established as the program’s flagship location and will create a network of high-impact workforce development centers to connect New Yorkers with careers in dynamic, high-growth advanced manufacturing industries. These workforce centers will equip New Yorkers with the skills they need and create an “on-ramp” to training, internships, apprenticeships and permanent employment and capitalize on the State’s success in attracting and expanding advanced manufacturing companies such as Micron and GlobalFoundries. Monroe Community College will lead the Finger Lakes ON-RAMP center in partnership with RochesterWorks.

    Additional regional workforce development efforts also include a $5.5 million investment through the transformational Regional Revitalization Partnership (RRP) to assist with establishing the RochesterWorks Downtown Career Center at the MCC downtown campus in the City of Rochester. The comprehensive one-stop career center will invite the co-location of fellow agencies, improving workforce development and supportive wrap-around services to members of the community seeking employment or training for career pathways improve access by directly linking service providers with jobs seekers, enhancing the ability to navigate a career pathway more easily. The project aims to remove barriers to participation in the workforce that most acutely impact populations that are historically underrepresented in the labor force. MCC’s downtown campus is also home to the New York State supported Finger Lakes Workforce Development (FWD) Center, which is focused on short-term and accelerated, technology-oriented training programs that place individuals in high-demand jobs within advanced manufacturing, information technology, skilled trades, apprenticeship-related instruction and professional services.

    State Senator Jeremy Cooney said, “With the Advanced Technology Center, Monroe Community College is cementing their role as a driver of workforce development and technological innovation in our region. This state-of-the-art facility will house the first of its kind Optics Systems Technology program, opening the door to in-demand jobs for students in our region. I’m grateful for the leadership of Governor Hochul, County Executive Bello, Dr. DeAnna Burt-Nanna, and my federal and state partners in making this project a reality and continuing our shared commitment towards economic development across Monroe County.”

    Assemblymember Harry Bronson said, “The new Advanced Technology Center at MCC demonstrates our region’s commitment to cutting-edge workforce development and education programs. Under Dr. Burt-Nanna’s innovative leadership, MCC will develop the world-class facilities required to prepare students to meet the demands of our emerging economy. Thank you Dr. Burt-Nanna, County Executive Bello, Congressman Morelle, Governor Hochul and my partners in the State legislature. Through this investment, we are connecting students to programming and training opportunities with a direct pipeline to in-demand jobs in essential industries.”

    Brighton Town Supervisor William W. Moehle said, “Monroe Community College is a tremendous asset to the Town of Brighton and Monroe County, and the new Advanced Technology Center will bring new cutting-edge technology and training capabilities to the MCC campus in Brighton. This facility will help train the next generation of technology experts right here in Brighton to help this region compete for job growth in the new economy.”

    RochesterWorks Executive Director David Seeley said, “The MCC Advanced Technology Center expansion is a great addition to the workforce development initiatives in place in our region to support the growing advanced manufacturing, skilled trades, and semiconductor industries. RochesterWorks is proud to be partnering with MCC and the State on these initiatives, providing our full range of programs and services to job seekers and employers in the Rochester area looking to be a part of these exciting, high demand, and well-paying career pathways. Our thanks go out to Governor Hochul, County Executive Bello, Congressman Morelle, and MCC for being great partners and bringing these opportunities to our area.”

    OneROC President Joseph Stefko said, “This new investment strengthens our region’s world class research and training assets in the semiconductor and microelectronics sector – assets which were critical to our successfully securing funding last year for the NY SMART I-Corridor Regional Tech Hub. Bolstering training for in-demand, high-technology jobs better positions our region to fully capitalize on the growth we expect to see in the coming years. I’m grateful to Governor Hochul and our state delegation for their continued support, to President Burt-Nanna for her leadership, and to our federal partners for their commitment to investing in a high-skilled and agile workforce that can meet our current and future talent pipeline needs.”

    Accelerating Economic Development in the Finger Lakes
    Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing.

    About Empire State Development
    Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the State. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

    MIL OSI USA News –

  • MIL-OSI USA: Press Release: Motorists Urged to Drive Carefully and Protect People in Work Zones

    Source: US State of Rhode Island

    National Work Zone Awareness Week is April 21-25, 2025

    Construction season has started, and the Rhode Island Department of Transportation (RIDOT) and its safety partners are reminding motorists to slow down and drive safely in work zones. This week (April 21-25) is National Work Zone Awareness Week � a time when drivers are asked to slow down when they approach a work zone � or a public safety vehicle.

    RIDOT Director Peter Alviti, Jr. today joined officials from the Rhode Island State Police, Federal Highway Administration, Rhode Island Turnpike and Bridge Authority, Rhode Island Police Chiefs Association, AAA Northeast, the Laborers’ International Union of North America and the Rhode Island Building and Construction Trades Council for a press conference at the Department’s headquarters in Providence.

    “This week, our construction and safety partners raise awareness about the dangers our workers face as they go about their jobs to make our roads better and safer,” Director Alviti said. “In Rhode Island alone there are hundreds of work zones set up throughout the year. These men and women are working mere feet from live, often high-speed traffic and we need to keep them safe.”

    This year’s Work Zone Awareness Week press conference featured the story of Lincoln Police Lieutenant Brad Stewart who was nearly struck by an errant driver in 2018 while assisting a work crew on Route 146 near Twin River Road. The driver thankfully did not hit his cruiser, but crashed into a sign board on a trailer, snapping it in half and nearly killing two workers on the road.

    It was a harrowing reminder of a serious injury crash in 2013 when a car slammed into the back of his cruiser at a high rate of speed on the side of Route 146, when he stopped to assist a motorist with a flat tire. The driver was heavily intoxicated � four times the legal limit. Stewart’s cruiser was totaled, and he was hospitalized with significant injuries. It took seven months of recovery before he was able to get back to work. Although that near miss happened five years after he was seriously injured, being in the center of another potentially bad crash really jolted him.

    “For a moment I was convinced that I got hit again,” he said. “It was that close. It all hit home again. You go out to work and you don’t know what could unfold when someone’s not paying attention and crashes into your work zone.”

    Across the country, fatal crashes in work zones have steadily increased. According to the National Highway Traffic Safety Administration, about 900 people a year die in work zone crashes. That’s up significantly from an average of 500 per year 10 years ago. At the current rate, that’s equivalent to 18 coach buses filled to capacity.

    “We have a shared responsibility to keep our roadways safe and this includes taking care when driving through a work zone,” said Lieutenant Colonel Robert Creamer, Deputy Superintendent and Chief of Field Operations for the Rhode Island State Police. “Our move-over law requires drivers to move over and slow down when they see emergency lights, so please follow the law and help us keep our roads safe for work crews and first responders.”

    Fortunately, RIDOT has not had any work zone fatalities among its staff or contractors in many years, however each year there are hundreds of crashes in work zones, resulting in many injuries and financial losses for those affected. Last year there were nearly 500 work zone-related crashes in Rhode Island, up from 346 crashes reported in 2021.

    “Distracted driving is an entirely preventable cause of work zone crashes, and we need to do more to protect the road workers and the police officers who are at these job sites every day,” said Chief Thomas F. Oates III, President of the Rhode Island Police Chiefs Association and Woonsocket Chief of Police. “Our ask is simple: please slow down and pay attention and help us make work zones safer for everyone.”

    Safety is RIDOT’s highest priority, and all work zones are established with careful attention to safety and in coordination with national standards and best practices. RIDOT routinely inspects all work zones on state roads, including those set up by contractors, bridge inspectors and utility companies. This interaction includes making sure work zones are set up correctly.

    RIDOT plans the timing and duration of work zones to reduce as much as possible the impact to traffic flow and travel time. The potential impact to traffic is carefully studied during the design process on each project with continual monitoring during projects for any changes that can be made to reduce congestion.

    In addition to today’s event, RIDOT coordinated with the Rhode Island Turnpike and Bridge Authority and Rhode Island Division of Capital Asset Management and Maintenance to illuminate key structures in orange in recognition of Work Zone Awareness Week. This includes the State House, the Sakonnet River Bridge and the Pawtucket River Bridge. Additionally, Big Blue Bug Solutions is currently displaying a Work Zone Awareness Week banner at its “Nibbles Woodaway” statue on the roof of its Providence office, highly visible to motorists on I-95. RIDOT will utilize a variety of advertising mediums to help spread the important message of safe driving in work zones.

    MIL OSI USA News –

  • MIL-OSI: Greene County Bancorp, Inc. Reports Net Income of $8.1 Million for the Quarter Ended March 31, 2025 and Reaches New Milestone of $3.0 Billion in Assets

    Source: GlobeNewswire (MIL-OSI)

    CATSKILL, N.Y., April 22, 2025 (GLOBE NEWSWIRE) — Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three and nine months ended March 31, 2025, which is the third quarter of the Company’s fiscal year ending June 30, 2025. Net income for the three and nine months ended March 31, 2025 was $8.1 million, or $0.47 per basic and diluted share, and $21.8 million, or $1.28 per basic and diluted share, respectively, as compared to $5.9 million, or $0.34 per basic and diluted share, and $18.0 million, or $1.06 per basic and diluted share, for the three and nine months ended March 31, 2024, respectively. Net income increased $3.8 million, or 20.9%, when comparing the nine months ended March 31, 2025 and 2024.

    Highlights:

    • Net Income: $21.8 million for the nine months ended March 31, 2025
    • Total Assets: $3.0 billion at March 31, 2025, a new record high
    • Net Loans: $1.6 billion at March 31, 2025, a new record high
    • Total Deposits $2.7 billion at March 31, 2025, a new record high
    • Return on Average Assets: 1.04% for the nine months ended March 31, 2025
    • Return on Average Equity: 13.40% for the nine months ended March 31, 2025

    Donald Gibson, President & CEO stated: “I am pleased to report we reached a new milestone exceeding $3.0 billion in consolidated assets for the quarter ended March 31, 2025. This milestone in asset growth is a true testament to our Bank’s unique long-term culture to grow organically. The primary driver of our growth has been our team’s ability to provide innovative solutions and world-class customer service. When reviewing our company’s 136 year history, it took us approximately 128 years to reach $1.0 billion in assets, and only seven more years to reach $3.0 billion in assets. I am also proud to report solid quarterly income for the quarter ended March 31, 2025 of $8.1 million, an increase of 37.4% when compared to the quarterly net income of $5.9 million for the quarter ended March 31, 2024.”   

    Total consolidated assets for the Company were $3.0 billion at March 31, 2025, primarily consisting of $1.6 billion of net loans and $1.1 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.7 billion at March 31, 2025, consisting of retail, business, municipal and private banking relationships.

    Pre-provision net income was $24.0 million for the nine months ended March 31, 2025 as compared to $19.0 million for the nine months ended March 31, 2024, an increase of $5.0 million, or 26.6%. Pre-provision net income measures the Company’s net income less the provision for credit losses. Management believes that this non-GAAP measure assists investors in comprehending the impact of the provision for credit losses on the Company’s reported results, offering an alternative view of the Company’s performance and the Company’s ability to generate income in excess of its provision for credit losses. The Company strategically managed its balance sheet by focusing on higher-yielding loans and securities, and lowering deposit rates to align with the Federal Reserve’s recent interest rate cuts. This resulted in a higher net interest margin for the three and nine months ended March 31, 2025 as compared to the three and nine months ended March 31, 2024. The Company will continue to monitor the Federal Reserve and interest rates paid on deposits, while maintaining our long-term customer relationships.

    Selected highlights for the three and nine months ended March 31, 2025 are as follows:

    Net Interest Income and Margin

    • Net interest income increased $3.9 million to $16.2 million for the three months ended March 31, 2025 from $12.3 million for the three months ended March 31, 2024. Net interest income increased $5.3 million to $43.4 million for the nine months ended March 31, 2025 from $38.1 million for the nine months ended March 31, 2024. The increase in net interest income was due to an increase in the average balance of interest-earning assets which increased $205.8 million and $154.6 million when comparing the three and nine months ended March 31, 2025 and 2024, respectively, increases in interest rates on interest-earning assets, which increased 23 basis points and 30 basis points when comparing the three and nine months ended March 31, 2025 and 2024, respectively, and a decrease of 23 basis points in rates paid on interest-bearing liabilities when comparing the three months ended March 31, 2025 and 2024, respectively. The increase in net interest income was offset by increases in the average balance of interest-bearing liabilities, which increased $204.2 million and $156.6 million when comparing the three and nine months ended March 31, 2025 and 2024, respectively, and an increase of 15 basis points in rates paid on interest-bearing liabilities when comparing the nine months ended March 31, 2025 and 2024, respectively.

      Average loan balances increased $113.1 million and $80.3 million and the yield on loans increased 19 basis points and 26 basis points when comparing the three and nine months ended March 31, 2025 and 2024, respectively. The average balance of securities increased $104.5 million and $76.4 million and the yield on such securities increased 11 basis points and 40 basis points when comparing the three and nine months ended March 31, 2025 and 2024, respectively. Average interest-bearing bank balances and federal funds decreased $11.9 million and $2.1 million and the yield on interest-bearing bank balances and federal funds increased 22 basis points and 6 basis points when comparing the three and nine months ended March 31, 2025 and 2024, respectively.

      The cost of NOW deposits decreased 29 basis points, the cost of certificates of deposit decreased 56 basis points, and the cost of savings and money market deposits decreased 5 basis points when comparing the three months ended March 31, 2025 and 2024, respectively. The cost of NOW deposits increased 9 basis points, the cost of certificates of deposit increased 4 basis points, and the cost of savings and money market deposits increased 8 basis points when comparing the nine months ended March 31, 2025 and 2024, respectively. The growth in interest-bearing liabilities was primarily due to an increase in average NOW deposits of $179.5 million and $120.8 million and an increase in average certificates of deposits of $58.9 million and $58.7 million when comparing the three and nine months ended March 31, 2025 and 2024, respectively. This was partially offset by a decrease in average savings and money market deposits of $14.9 million and $25.4 million when comparing the three and nine months ended March 31, 2025 and 2024, respectively. Yields on interest-earning assets increased when comparing the three and nine months ended March 31, 2025 and 2024 as the Company continued to reprice assets into the higher interest rate environment. During the nine months ended March 31, 2025, the Company implemented a strategic reduction in deposit rates that aligns with the Federal Reserve’s rate cuts, while providing competitive financial solutions to the Company’s customers that reflect the prevailing economic conditions, while growing new relationships.

    • Net interest rate spread increased 46 basis points to 2.12% for the three months ended March 31, 2025 compared to 1.66% for the three months ended March 31, 2024. Net interest rate spread increased 15 basis points to 1.90% for the nine months ended March 31, 2025, compared to 1.75% for the nine months ended March 31, 2024.
      Net interest margin increased 42 basis points to 2.32% for the three months ended March 31, 2025, compared to 1.90% for the three months ended March 31, 2024. Net interest margin increased 15 basis points to 2.14% for the nine months ended March 31, 2025, compared to 1.99% for the nine months ended March 31, 2024. The increase in net interest rate spread and margin during the three and nine months ended March 31, 2025, was due to increases in interest income on loans and securities, as they continue to reprice at higher yields and the interest rates earned on new balances were higher than the historic low levels from the prior periods. This was partially offset by the increase in rates paid on deposits as compared to the nine months ended March 31, 2025.
    • Net interest income on a taxable-equivalent basis includes the additional amount of interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. Tax equivalent net interest margin was 2.60% and 2.20% for the three months ended March 31, 2025 and 2024, respectively, and was 2.41% and 2.25% for the nine months ended March 31, 2025 and 2024, respectively.

    Credit Quality and Provision for Credit Losses on Loans

    • Provision for credit losses on loans amounted to $1.1 million and $277,000 for the three months ended March 31, 2025 and 2024, respectively, and $2.3 million and $922,000 for the nine months ended March 31, 2025 and 2024, respectively. The loan provision for the nine months ended March 31, 2025 was primarily attributable to growth in gross loans and a modest deterioration in the economic forecasts used in the Current Expected Credit Loss (“CECL”) model as of March 31, 2025. The allowance for credit losses on loans to total loans receivable was 1.31% at March 31, 2025 compared to 1.28% at June 30, 2024.
    • Loans classified as substandard and special mention totaled $44.8 million at March 31, 2025 and $48.6 million at June 30, 2024, a decrease of $3.8 million. Of the loans classified as substandard or special mention, $41.6 million were performing at March 31, 2025. There were no loans classified as doubtful or loss at March 31, 2025 or June 30, 2024.
    • Net charge-offs on loans amounted to $96,000 and $204,000 for the three months ended March 31, 2025 and 2024, respectively, a decrease of $108,000. Net charge-offs totaled $305,000 and $420,000 for the nine months ended March 31, 2025 and 2024, respectively. There were no material charge-offs in any loan segment during the three and nine months ended March 31, 2025.
    • Nonperforming loans amounted to $2.9 million at March 31, 2025 and $3.7 million at June 30, 2024. The activity in nonperforming loans during the period included $2.3 million in loan repayments, $128,000 in charge-offs or transfers to foreclosure, $67,000 in loans returning to performing status, and $1.7 million of loans placed into nonperforming status. At March 31, 2025, nonperforming assets were 0.10% of total assets compared to 0.13% at June 30, 2024. At March 31, 2025, nonperforming loans were 0.18% of net loans compared to 0.25% at June 30, 2024.

    Noninterest Income and Noninterest Expense

    Noninterest income increased $444,000, or 13.0%, to $3.9 million for the three months ended March 31, 2025 compared to $3.4 million for the three months ended March 31, 2024. The increase during the three months ended March 31, 2025 was primarily due to a $610,000 Employee Retention Tax Credit (“ERTC”) and an increase in fee income earned on customer interest rate swap contracts of $190,000. This was partially offset by a $665,000 loss on sales of securities available-for-sale. Noninterest income increased $1.3 million, or 12.6%, to $11.5 million for the nine months ended March 31, 2025 compared to $10.2 million for the nine months ended March 31, 2024. The increase during the nine months ended March 31, 2025 was primarily due to a $610,000 Employee Retention Tax Credit (“ERTC”), an increase in fee income earned on customer interest rate swap contracts of $400,000, service charge account fees of $222,000, loan fees of $174,000 and income from bank owned life insurance (“BOLI”) of $359,000. This was partially offset by a $665,000 loss on sales of securities available-for-sale.

    • Noninterest expense increased $808,000, or 8.8%, to $10.0 million for the three months ended March 31, 2025 compared to $9.2 million for the three months ended March 31, 2024. Noninterest expense increased $1.6 million, or 5.7%, to $29.0 million for the nine months ended March 31, 2025 as compared to $27.4 million for the nine months ended March 31, 2024. The increase during the nine months ended March 31, 2025 was primarily due to an increase of $479,000 in salaries and employee benefit costs, as new positions were created during the period to support the Company’s continued growth, an increase of $341,000 in service and data processing fees and an increase of $749,000 in the allowance for credit losses on unfunded commitments, due to the Company’s increased contractual obligations to extend credit. This was partially offset by a decrease of $116,000 in legal and professional fees during the nine months ended March 31, 2025.

    Income Taxes

    • Provision for income taxes reflects the expected tax associated with the pre-tax income generated for the given period and certain regulatory requirements. The effective tax rate was 9.9% and 8.0% for the three and nine months ended March 31, 2025, and 5.2% and 9.8% for the three and nine months ended March 31, 2024, respectively. The statutory tax rate is impacted by the benefits derived from tax-exempt bond and loan income, the Company’s real estate investment trust subsidiary income, and income received on the bank owned life insurance, to arrive at the effective tax rate. The increase during the three months ended March 31, 2025 is due to higher pre-tax income. The decrease in the effective tax rate during the nine months ended March 31, 2025 primarily reflects a higher mix of tax-exempt income from municipal bonds, tax advantage loans, and bank owned life insurance in proportion to pre-tax income, and solar investment tax credits earned.

    Balance Sheet Summary

    • Total assets of the Company were $3.0 billion at March 31, 2025 and $2.8 billion at June 30, 2024, an increase of $182.2 million, or 6.5%.
    • Total cash and cash equivalents for the Company were $155.5 million at March 31, 2025 and $190.4 million at June 30, 2024. The Company has continued to maintain strong capital and liquidity positions as of March 31, 2025.
    • Securities available-for-sale and held-to-maturity increased $96.4 million, or 9.3%, to $1.1 billion at March 31, 2025 as compared to $1.0 billion at June 30, 2024. Securities purchases totaled $330.9 million during the nine months ended March 31, 2025, and consisted primarily of $207.7 million of state and political subdivision securities, $86.4 million of mortgage-backed securities, $24.7 million of U.S. Treasury securities, and $11.4 million of collateralized mortgage obligations. Principal pay-downs and maturities during the nine months ended March 31, 2025 amounted to $234.3 million, primarily consisting of $160.5 million of state and political subdivision securities, $53.0 million of U.S. Treasury securities, $17.5 million of mortgage-backed securities, $2.0 million of collateralized mortgage obligations and $1.3 million of corporate debt securities.
    • Net loans receivable increased $118.0 million, or 8.0%, to $1.6 billion at March 31, 2025 as compared to $1.5 billion at June 30, 2024. Loan growth experienced during the nine months ended March 31, 2025 consisted primarily of $111.9 million in commercial real estate loans, $3.2 million in home equity loans, $3.0 million in commercial loans, and $2.0 million in residential real estate loans.
    • Deposits totaled $2.7 billion at March 31, 2025 and $2.4 billion at June 30, 2024, an increase of $265.5 million, or 11.1%. The Company had $11.6 million and zero brokered deposits at March 31, 2025 and June 30, 2024, respectively. NOW deposits increased $232.6 million, or 13.2%, and certificates of deposits increased $53.6 million, or 38.7%, when comparing March 31, 2025 and June 30, 2024. Noninterest bearing deposits decreased $9.2 million, or 7.4%, savings deposits decreased $7.8 million, or 3.1%, and money market deposits decreased $3.7 million, or 3.3%, when comparing March 31, 2025 and June 30, 2024.
    • Borrowings amounted to $94.0 million at March 31, 2025 compared to $199.1 million at June 30, 2024, a decrease of $105.1 million. At March 31, 2025, borrowings included $42.0 million of overnight borrowings with the Federal Home Loan Bank of New York (“FHLB”), $49.8 million of Fixed-to-Floating Rate Subordinated Notes, and $2.2 million of long-term borrowings with the FHLB.
    • Shareholders’ equity increased to $229.0 million at March 31, 2025 compared to $206.0 million at June 30, 2024, resulting primarily from net income of $21.8 million and a decrease in accumulated other comprehensive loss of $5.0 million, partially offset by dividends declared and paid of $3.8 million.

    Corporate Overview

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

    Forward-Looking Statements

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

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

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

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

    Non-GAAP Measures

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

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

    (END)

    Greene County Bancorp, Inc.
    Consolidated Statements of Income, and Selected Financial Ratios (Unaudited)

         
      At or for the Three Months   At or for the Nine Months
      Ended March 31,   Ended March 31,
    Dollars in thousands, except share and per share data   2025       2024       2025       2024  
    Interest income $ 29,779     $ 26,071     $ 86,966     $ 76,336  
    Interest expense   13,568       13,776       43,551       38,214  
    Net interest income   16,211       12,295       43,415       38,122  
    Provision for credit losses   1,084       290       2,196       917  
    Noninterest income   3,856       3,412       11,468       10,189  
    Noninterest expense   10,042       9,234       28,978       27,405  
    Income before taxes   8,941       6,183       23,709       19,989  
    Tax provision   887       322       1,904       1,952  
    Net income $ 8,054     $ 5,861     $ 21,805     $ 18,037  
             
    Basic and diluted EPS $ 0.47     $ 0.34     $ 1.28     $ 1.06  
    Weighted average shares outstanding   17,026,828       17,026,828       17,026,828       17,026,828  
    Dividends declared per share (4) $ 0.09     $ 0.08     $ 0.27     $ 0.24  
             
    Selected Financial Ratios        
    Return on average assets(1)   1.12 %     0.88 %     1.04 %     0.91 %
    Return on average equity(1)   14.41 %     11.92 %     13.40 %     12.69 %
    Net interest rate spread(1)   2.12 %     1.66 %     1.90 %     1.75 %
    Net interest margin(1)   2.32 %     1.90 %     2.14 %     1.99 %
    Fully taxable-equivalent net interest margin(2)   2.60 %     2.20 %     2.41 %     2.25 %
    Efficiency ratio(3)   50.04 %     58.79 %     52.80 %     56.73 %
    Non-performing assets to total assets         0.10 %     0.21 %
    Non-performing loans to net loans         0.18 %     0.39 %
    Allowance for credit losses on loans to non-performing loans         724.65 %     361.45 %
    Allowance for credit losses on loans to total loans         1.31 %     1.38 %
    Shareholders’ equity to total assets         7.61 %     6.94 %
    Dividend payout ratio(4)         21.09 %     22.64 %
    Actual dividends paid to net income(5)         17.30 %     14.50 %
    Book value per share       $ 13.45     $ 11.70  
           
    (1) Ratios are annualized when necessary.
    (2) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income.
    (3) The efficiency ratio has been calculated as noninterest expense divided by the sum of net interest income and noninterest income.
    (4) The dividend payout ratio has been calculated based on the dividends declared per share divided by basic earnings per share. No adjustments have been made to account for dividends waived by Greene County Bancorp, MHC (“MHC”), the Company’s majority shareholder, owning 54.1% of the shares outstanding.
    (5) Dividends declared divided by net income. The MHC waived its right to receive dividends declared during the three months ended March 31, 2023, June 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024 and March 31, 2025. Dividends declared during the three months ended September 30, 2023, September 30, 2024, and December 31, 2024 were paid to the MHC.
     

    Greene County Bancorp, Inc.
    Consolidated Statements of Financial Condition (Unaudited)

      At
    March 31, 2025    		   At
    June 30, 2024
    Dollars In thousands, except share data      
    Assets      
    Cash and due from banks $ 12,717     $ 13,897  
    Interest-bearing deposits   142,766       176,498  
             Total cash and cash equivalents   155,483       190,395  
           
    Long term certificate of deposit   1,640       2,831  
    Securities available-for-sale, at fair value   355,432       350,001  
    Securities held-to-maturity, at amortized cost, net of      
    allowance for credit losses of $422 and $483 at March 31, 2025 and June 30, 2024   781,338       690,354  
    Equity securities, at fair value   400       328  
    Federal Home Loan Bank stock, at cost   3,834       7,296  
           
    Loans receivable   1,619,378       1,499,473  
    Less: Allowance for credit losses on loans   (21,196 )     (19,244 )
    Net loans receivable   1,598,182       1,480,229  
           
    Premises and equipment, net   15,202       15,606  
    Bank owned life insurance   59,160       57,249  
    Accrued interest receivable   18,433       14,269  
    Prepaid expenses and other assets   18,852       17,230  
    Total assets $ 3,007,956     $ 2,825,788  
           
    Liabilities and shareholders’ equity      
    Noninterest bearing deposits $ 116,195     $ 125,442  
    Interest bearing deposits   2,538,522       2,263,780  
    Total deposits   2,654,717       2,389,222  
           
    Borrowings, short-term   42,000       115,300  
    Borrowings, long-term   2,195       34,156  
    Subordinated notes payable, net   49,820       49,681  
    Accrued expenses and other liabilities   30,181       31,429  
    Total liabilities   2,778,913       2,619,788  
    Total shareholders’ equity   229,043            206,000  
    Total liabilities and shareholders’ equity $ 3,007,956     $ 2,825,788  
    Common shares outstanding   17,026,828       17,026,828  
    Treasury shares   195,852       195,852  
           

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

    Non-GAAP to GAAP Reconciliations

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

      For the three months ended March 31, For the nine months ended March 31,
    (Dollars in thousands)   2025       2024       2025       2024  
    Net interest income (GAAP) $ 16,211     $ 12,295     $ 43,415     $ 38,122  
    Tax-equivalent adjustment(1)   1,945       1,897       5,524       5,051  
    Net interest income-fully taxable-equivalent basis (non-GAAP) $ 18,156     $ 14,192     $ 48,939     $ 43,173  
             
    Average interest-earning assets (GAAP) $ 2,789,102     $ 2,583,271     $ 2,711,083     $ 2,556,441  
    Net interest margin-fully taxable-equivalent basis (non-GAAP)   2.60 %     2.20 %     2.41 %     2.25 %
                                   

    (1) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. The rate used for this adjustment was 21% for federal income taxes for the three and nine months ended March 31, 2025 and 2024, 4.44% for New York State income taxes for the three and nine months ended March 31, 2025 and 2024.

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

      For the three months ended March 31,
    (Dollars in thousands)   2025     2024  
    Net income (GAAP) $ 8,054   $ 5,861  
    Provision for credit losses   1,084     290  
    Pre-provision net income (non-GAAP) $ 9,138   $ 6,151  
      For the nine months ended March 31,
    (Dollars in thousands)   2025     2024  
    Net income (GAAP) $ 21,805   $ 18,037  
    Provision for credit losses   2,196     917  
    Pre-provision net income (non-GAAP) $ 24,001   $ 18,954  

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

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

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

    The MIL Network –

  • MIL-OSI Global: The focus on manufacturing in the federal election misses what could truly help Canadian workers

    Source: The Conversation – Canada – By Gerard Di Trolio, PhD candidate, Labour Studies, McMaster University

    Canada’s major political parties have been pledging support for the manufacturing sector ahead of next week’s election, but Canada’s working class is much broader than just manufacturing.

    Canadians are on edge because as many as 600,000 jobs are at stake due to tariffs levied by United States President Donald Trump.

    But the focus on manufacturing obscures what truly ails the working class in an advanced economy like Canada’s. Manufacturing’s share of employment hovers at around 8.9 per cent, while nearly 80 per cent of Canadians work in the service sector.

    A recent report from the non-partisan Cardus think tank notes that Canada’s working class today is “likely to be a female, recently immigrated worker in the services-producing sector. The new working class, in other words, is now more personified by a Walmart cashier or an Amazon delivery driver than a General Motors factory worker or a Domtar mill hand.”



    Read more:
    Canada’s labour market is failing racialized immigrant women, requiring an urgent policy response

    Manufacturing gives way to services

    So why is there such emphasis on manufacturing?

    It’s easy to understand. Manufacturing has been essential to industrialization, from the British Empire to China’s unprecedented growth in recent years.

    The late British-Hungarian economist Nicholas Kaldor argued that manufacturing is the engine of growth due to increasing returns to scale, strong links to other sectors and its role in technological development.

    But as countries become wealthier, an increased demand for services follows, creating jobs in that sector. Manufacturing sectors in wealthier countries tend to invest in labour-saving technologies. The U.S., for example, has seen manufacturing employment fall while output has increased.

    Labour-intensive sectors like clothing cannot compete with Bangladeshi wages, but discussions about manufacturing jobs in Canada and other advanced economies too often focus on wage competition instead of job losses through automation and increasing productivity.

    There were losers when the globalization era began, but countries like Canada and the U.S. are wealthier today than they were in 1994, when the North American Free Trade Agreement (NAFTA) was signed. As American economist Jeffrey Sachs has pointed out, governments have failed to redistribute the wealth created by gains from trade to those at the bottom of the income scale.



    Read more:
    Beyond NAFTA: Canada must find new global markets

    Four policies of a real working-class agenda

    There are several key policies that politicians should be proposing that would really help the working class.

    First is one that all politicians are talking about: building more housing.

    Second is related to key elements of social reproduction — that is, care work. There must be strong funding commitments to ensure a national childcare system functions properly.

    With Canada on track to experience a surge of its elderly population, long-term care also needs to be a focus. Personal support workers must earn a living wage and must have better working conditions. Canada’s aging population is also why decreased immigration is a bad idea.

    The third policy requires the federal and provincial governments to get serious about active labour market policies. This means building a labour market training system that actually works, something Canada has lacked.

    These policies are generally not implemented in liberal market economies like Canada and the U.S.

    But in countries like Sweden with active labour market policies in place, 80 per cent of the population has a favourable opinion of robots and AI compared to two-thirds of Americans who are concerned about technological job loss. The state’s ability — or lack of it — to provide social protections and job re-training has real impacts on how people perceive technological change.

    Canada also needs to recognize foreign credentials. Its reluctance to do so has had a negative impact on the economic prospects of immigrants. Canada should also consider making higher education free.

    The fourth policy involves better worker protections that include a strengthened Employment Insurance that is easier to qualify for, improved protections for gig workers and increasing union membership.

    Apart from the public sector, Canadian unions have not fared well organizing in service industries. Unions need to make a serious effort to organize in retail, food service, the gig economy and logistics, despite the challenges. Canadian unions may find that they have little choice but to do so, as their presence in the private sector continues to decline.



    Read more:
    Canada Post strike highlights labour struggle over gig economy and precarious work

    Inequality, wealth redistribution

    The most significant barrier of these four policy proposals is that most require an increased redistribution of wealth. Canada over the past several decades has retreated from wealth redistribution and as a result, economic inequality has surged.

    White blue-collar workers in the U.S. in areas hit by factory job losses swung to Trump. A Canadian version of this is happening with some blue-collar unions endorsing the Conservatives under Pierre Poilievre.



    Read more:
    Pierre Poilievre is popular among union members. What’s it really all about?

    Fixating on manufacturing is not a solution. After 2012, China began shedding manufacturing employment. Job demand in Chinese manufacturing today is in sectors that require skilled workers for software and AI systems. Services like retail, technology and transportation are also drawing in workers from manufacturing.

    Building infrastructure, green energy

    Not all blue-collar work will disappear. Canada needs labour to build not just homes, but high-speed rail.



    Read more:
    Canada is one step closer to high-speed rail, but many hurdles remain

    Active labour market policies will be key to ensuring manufacturing workers transition into building infrastructure and green energy. Canada can also remain competitive in areas like aluminum production .

    Policymakers need to understand our post-industrial moment, and focus on a just transition for manufacturing workers.

    Labour and progressive movements have long championed a just transition for fossil fuel workers. Like factory workers, fossil fuel workers have been courted by right-wing politicians who tell them environmental policies will destroy their jobs. At the same time, oil companies automate their jobs anyway.

    These policies are not easy to achieve, but there are few other options for Canada if it wants to be carbon-free, open to the world and more equal. Canada’s economic nostalgia for manufacturing is ultimately strange given it’s also a common talking point of Trump, a politician who’s wildly unpopular in Canada.

    Gerard Di Trolio 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. The focus on manufacturing in the federal election misses what could truly help Canadian workers – https://theconversation.com/the-focus-on-manufacturing-in-the-federal-election-misses-what-could-truly-help-canadian-workers-254651

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Premier’s, minister’s statements on Earth Day

    Source: Government of Canada regional news

    Premier David Eby has issued the following statement marking Earth Day:

    “On Earth Day, people in British Columbia join other Canadians and people around the world in celebrating our planet as we rededicate our efforts to protect it.

    “British Columbia is lucky to have so many marvelous natural wonders, from snowcapped mountains to verdant valleys to spectacular coastlines. Our government is working in partnership with more than 60 First Nations on stewardship projects embracing local and Indigenous knowledge to protect nature. Our unique biospheres are our inheritance. We have an obligation to preserve them as our legacy for future generations.

    “For 55 years, Earth Day has been raising awareness and encouraging action on critically important environmental issues. This year’s Earth Day theme is Our Planet, Our Power. It is a call for the world to harness renewable energy to build a healthy, equitable and prosperous future. A transition to renewable energy is driving innovation in industry, transportation and agriculture, and spurring technological advancements, while creating millions of new jobs around the world, including here in British Columbia.

    “The urgency has never been clearer. Our climate is changing. British Columbians have endured record-breaking wildfire seasons, as well as floods, droughts and heat waves. That is why we are building our province’s capacity to produce clean fuels, such as biofuels, hydrogen and hydroelectricity, as well as wind and solar power.

    “Our province is already a clean-energy superpower. To build a clean economy and support growing communities, we need to expand our clean-energy capacity. BC Hydro’s $36-billion, 10-year capital plan is critical to our efforts to build a clean economy, powered by electricity, that works for everyone.

    “First Nations have long been leaders in the clean-energy sector, and we will advance reconciliation by working in collaboration and partnership with First Nations to advance projects on their territories – including eight new wind-energy projects that have majority First Nations equity ownership.

    “Our plan, called Powering Our Future: B.C.’s Clean Energy Strategy, also shows how investment in energy efficiency saves people and businesses on their energy bills, reduces energy waste and cuts down on harmful pollution, while creating jobs and economic opportunities.

    “By working together, we will ensure our province remains a place where our children and our children’s children can continue to enjoy clean air, water and land.”

    Tamara Davidson, Minister of Environment and Parks, said:

    “People throughout British Columbia are blessed to be able to celebrate Earth Day where the beauty of nature is ever-present. We all cherish the natural wonders this province provides for us and we take this time to renew our efforts to protect it.

    “Since 1970, Earth Day has stood as a time for all of us to reflect on how we can continue to care for our planet so it will continue to take care of us. With the ongoing effects of climate change being felt annually in the form of worsening drought, wildfires, heat waves and other weather events, now is the time to ramp up our efforts to work with our environment, not against it, for the betterment of all.

    “The theme of this 55th Earth Day is Our Power, Our Planet, an idea we are passionate about. That’s why the Province is exempting wind-farm projects from environmental assessments and working on expediting reviews of projects such as solar farms. Producing clean energy to meet the electricity needs of people and the economy is pivotal to our future. We want to make it easier for investors to create this energy and, at the same time, fuel our economy.

    “The people of British Columbia continue to show how much they cherish the beauty of this land by visiting provincial parks and recreation sites in high numbers year after year. As a vital part of our physical and mental well-being, our world-renowned parks and protected areas are more important than ever. They play a critical role in preserving unique species and ecosystems, along with cultural and historical values, and contribute to local economies through tourism.

    “Since 2017, we’ve added more than 2,000 new campsites to BC Parks and recreation sites, with more to come. Accessibility upgrades continue to be made in parks throughout the province to ensure these natural treasures can be enjoyed by everyone.

    “Earth Day allows us to reflect on where we are and where we need to go to build a cleaner, sustainable future. I am committed to do my part in stewarding our environment for future generations to benefit from, care and enjoy.”

    MIL OSI Canada News –

  • MIL-OSI USA: LEADER JEFFRIES ON ABC: “AMERICA IS TOO EXPENSIVE”

    Source: United States House of Representatives – Congressman Hakeem Jeffries (8th District of New York)

    Brooklyn, NY – Today, Democratic Leader Hakeem Jeffries appeared on ABC’s This Week where he emphasized that Democrats will continue to aggressively push back against the Republican assault on Social Security and Medicaid. 

    (VIDEO) LEADER JEFFRIES: We’re in a crisis across the board, right? I mean, that is obvious for everyone to see. This is not normal. The president is assaulting the economy, assaulting Social Security, assaulting health care, assaulting the American way of life and assaulting our democracy. None of this is normal. It is all a crisis. 

    (END VIDEO CLIP) 

    KARL: That was House Democratic Leader Hakeem Jeffries, who joins me now. Leader Jeffries, thank you for being here. Let me get right at what you were saying, because I also heard you say that Republicans are breaking the economy and will own all of the damage that is being done to the American people. So, what—what are Democrats going to do about it? 

    JEFFRIES: Well, we’re going to continue to make clear that the cost of living in the United States of America is too high. Donald Trump and Republicans promised to lower the cost of living, in fact, on day one. Costs aren’t going down, they are going up and they are crashing the economy in real time and in fact, driving us toward a recession. Democrats have a different vision. We want to build an affordable economy for hardworking American taxpayers, and we’re ready to work with anyone in good faith to get that done. But that’s not occurring in the Congress right now, which is why things are heading in a bad direction.

    KARL: But let me ask you about a Gallup poll that came out recently, asking people how much confidence they have in various people to—to deal with the economy. And Donald Trump only—you know, 44 percent have a great deal or fair amount of confidence, but that was—GOP leaders were next, the Fed chairman, the speaker of the House. And when you get down to the bottom Democratic leaders, Chuck Schumer, down at the bottom. You had only 30 percent. So, what do Democrats have to do to convince the American people that they have a better plan on the economy than the Republicans? 

    JEFFRIES: Well, this week, we’ll be having a Cost of Living Week of Action, and we have to continue to talk to the American people about our plans. We recognize that housing costs are too high, grocery costs are too high, utility costs are too high, child care costs are too high insurance costs are too high. America is too expensive. Now, Donald Trump is the president. And in terms of his approval as it relates to the economy, it was his biggest strength on January 20th. Now, it’s his greatest weakness. There are a variety of different polls that are out there, including most recently a Morning Consult poll, that showed that congressional Democrats were actually trusted more than congressional Republicans on the economy for the first time in four years. We’re going to continue to press our case on the economy, continue to press our case on protecting and strengthening Social Security, which is what we are committed to do. Republicans are trying to detonate Social Security as we know it. And certainly, we’re going to protect the health care of the American people. 

    KARL: You’ve seen those huge crowds that Bernie Sanders and AOC have gotten at their “Fighting Oligarchy Tour.” Is that where the energy of the Democratic Party is right now? Is it with the progressive left? Is that the direction the party’s going to turn? 

    JEFFRIES: I think the energy of the Democratic Party right now is across the board. And everyone has made that observation, that this is not a right/left moment, it’s a moment of right versus wrong. And we’ve got to be able to stand up to this assault that is underway led by Donald Trump and his compliant Republicans in the House and the Senate. An assault on the economy, on Social Security, on Medicaid, an insult on the democratic way of life as we know it. 

    KARL: I saw Senator Sanders had said in an interview this week that he was skeptical of Kamala Harris, and he mentioned Joe Biden as well — and having a future in the national Democratic Party. He said, quote: I think the future of the Democratic Party is not going to rest with the kind of leadership that we’ve had. Is—is he right? Do you think Democrats are looking for new leaders? 

    JEFFRIES:  I think what we’ve got in front of us in terms of politically is that we have to win the races that are up next. That’s a governor’s race in New Jersey and a governor’s race in Virginia. Those two in November are going to be critically important, and we certainly have to win back control of the House of Representatives next year. Now, we’re pushing back in the Congress. We’re pushing back in the courts, and we’re pushing back in the communities, including wherever there are special elections on the campaign trail. And, in fact, Democrats are winning special elections month after month after month, including most recently a decisive one in Wisconsin earlier this month for the state Supreme Court. 

    KARL: David Hogg, who I know you know, a vice chair of the Democratic National Committee, he’s going to be joining us on the roundtable, and he is pursuing this effort to unseat some Democrats in safe seats through primary challenges. He’s talked about a culture of seniority politics that is not working for the party. He said, quote: We need a better Democratic Party and need to get rid of the Democrats in safe seats who do not understand what is at stake now, who are asleep at the wheel not meeting the moment and are a liability now into the future of our party. What’s your response to this idea of targeting your Dem—some of your Democratic incumbents? 

    JEFFRIES: Well, I look forward to standing behind every single Democratic incumbent, from the most progressive, to the most centrist, and all points in between. They’re working hard in their communities, rising to the occasion this past week. We had, of course, Medicaid Matters Day of Action, a Save Social Security Day of Action, and we have to continue to do all of the things—rallies, town hall meetings in Democratic districts, town hall meetings in Republican districts, days of action, telephone town hall meetings, site visits, press conferences. We are in a more is more environment, and more is going to continue to be required of all of us. Now, the House is the institution that is known to be—was built to be the closest to the American people. That’s why we have elections every two years. Primaries are a fact of life. But here’s the thing: I’m going to really focus on trying to defeat Republican incumbents so we can take back control of the House of Representatives and begin the process of ending this national nightmare that’s being visited upon us by far-right extremism. 

    KARL:  All right. Democratic Leader Hakeem Jeffries, thank you for joining us before running into Easter services. We appreciate you. Have happy—have a happy Easter. 

    Full interview can be watched here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: LEADER JEFFRIES AND DPCC STATEMENT MARKING HOUSE DEMOCRATS COST OF LIVING WEEK OF ACTION 

    Source: United States House of Representatives – Congressman Hakeem Jeffries (8th District of New York)

    Today, House Democratic Leader Hakeem Jeffries, Democratic Policy and Communications Committee (DPCC) Chair Debbie Dingell and Co-Chairs Lauren Underwood, Lori Trahan and Maxwell Frost released the following statement:

    America is too expensive. Donald Trump and House Republicans promised to tackle the cost of living on day one. Instead, they are crashing the economy and dragging us to the brink of another Republican Recession. They have not done a single thing to make life more affordable in this country.

    This week, House Democrats will hold a Cost of Living Week of Action, hearing directly from the American people as we aim to build an economy that works for hardworking taxpayers. Democrats will be out in full force this week talking to our constituents through town hall meetings, roundtable discussions and local site visits. 

    We are battling in Congress, the courts and in communities across the land to stop Republicans from raising costs and making life harder for the American people. While Republicans are on the run, Democrats will be on the ground sharing our message in every corner of the country.

    ###

    MIL OSI USA News –

  • MIL-OSI: XenDex Reveals the Problems It Aims to Tackle on the XRP Ledger, and Its Token Use Cases

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 22, 2025 (GLOBE NEWSWIRE) — The Ripple (XRP) Ledger has been existing for more than a decade, and has also been long celebrated for its speed, low transaction costs, and scalability. However, as decentralized finance (DeFi) continues to evolve, the XRP Ledger has yet to offer the full suite of tools and functionality seen on other leading blockchains like Ethereum or BNB Chain. Specifically, Ripple lacks a native lending and borrowing platform, as well as AI-assisted trading tools, both of which are now standard expectations in modern DeFi ecosystems.

    This is where XenDex comes in; combining these functions and offering an interface where users can optimally maximize the functions being offered by XenDex.

    Visit XenDex Website & Join Telegram Community

    XenDex is the first all-in-one non-custodial decentralized exchange (DEX) built on the XRP Ledger, offering features like AI-powered copy trading, lending and borrowing, staking, and governance — all in one seamless platform. It’s designed to be fast, user-friendly, and perfect for both beginners and experienced crypto users. It is powered by its native token $XDX, XenDex gives its users full control over trading, decision-making, and earning rewards, making it the DeFi engine XRP has been missing.

    XenDex: Solving Real Problems on XRPL

    The team behind the development of XenDex identified some features and utilities which the Ripple ecosystem has long been lacking, and decided to band together with the aim of providing these features, and solving a few other problems which has been existing on the Ripple ecosystem. XenDex is not just another decentralized exchange, but it is the first all-in-one DeFi solution on the XRP Ledger, combining essential features such as:

    • Non-custodial lending and borrowing
    • AI-powered copy trading
    • Liquidity farming and staking
    • Spot and perpetual trading with AMM technology
    • Governance via DAO
    • Cross-chain swaps and future interoperability

    Join XenDex Community On Telegram

    $XDX Primary Use Cases And Advantages

    The native utility token of XenDex, $XDX, fuels the entire ecosystem. Holding $XDX gives users a wide range of advantages, including but not limited to:

    • Governance rights – giving holders real control to vote on listings, upgrades, etc.
    • DeFi Applications – used in our DeFi applications and functions, allowing users to borrow, lend, and trade within the ecosystem.
    • Staking rewards – earn passive income by providing liquidity to our pool
    • Trading benefits – reduced fees while using our platform, access to exclusive and premium features

    An Interface Built for Everyone

    One of XenDex’s standout strengths is its user-first interface. The app is designed to be sleek, fast, and incredibly easy to use, even for individuals transitioning from Web2. From real-time trading to lending dashboards, everything is accessible with clean navigation, no need for technical knowledge or third-party help. Onboarding on XenDex is seamless and frictionless.

    Why You Should Join the XenDex Community

    XenDex is fundamentally community-driven platform developed on the Ripple blockchain, and joining early offers major advantages such as:

    • Feeling among and being part of a like-minded community
    • Stay informed with first-hand updates and know more about XenDex through AMAs
    • Participate in events, contests, and community games
    • Get airdrops and other community rewards
    • Help shape the project’s future through community governance

    Follow Us On Our Socials Below:

    Website: https://xendex.net
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP

    Contact:
    Frank Richards
    Frank@xendex.net

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

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

    The MIL Network –