NewzIntel.com

Category: Economy

  • MIL-OSI: ATI Nursing Education’s 2025 National Nurse Educator Summit Kicks Off April 22 in Orlando and Virtually

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., April 21, 2025 (GLOBE NEWSWIRE) — ATI Nursing Education, an Ascend Learning brand and a leading provider of education technology solutions and support to more than 60% of the nation’s undergraduate nursing programs, is hosting the 2025 National Nurse Educator Summit, a vital industry event dedicated to advancing the future of nursing education. Taking place April 22-25 in Orlando, Florida, and virtually, this year’s Summit will bring together hundreds of nurse educators, academic leaders, and healthcare experts to tackle critical issues facing healthcare and nursing education today, including establishing a stable pipeline of nurses for years to come.

    Since 2010, the National Nurse Educator Summit has been a catalyst for movement and a forum for exchanging ideas that drive real-world impact in healthcare, becoming a cornerstone of the academic nursing calendar. Over 700 nursing administrators and faculty across all 50 states are registered to gather for three and a half info-packed days of inspiring sessions, interactive workshops, and incredible networking opportunities.

    “Nurse educators are often overlooked members of the nursing community. Many have left positions as practicing nurses to ensure the next generation has the tools they need to succeed,” said Dr. Lissy Hu, CEO of Ascend Learning. “The Summit allows them to connect with each other, share best practices, and work together to help the nurses of tomorrow succeed.”

    This year’s Summit features an agenda packed with distinguished nurse educators from leading institutions, including the University of Pennsylvania School of Nursing, Duke IPEC Center, and others. Sessions will cover a wide variety of topics including innovative learning tools and teaching strategies, student and faculty retention, academic and practice readiness, and leadership.

    “The nursing profession is at an inflection point, where shortages and new technologies are putting pressure on institutions to adapt so they can retain students and maintain the nursing pipeline,” said Patty Knect, Chief Nursing Officer at Ascend Learning. “The Summit is a space for collaboration, support, and action. We’re equipping faculty with the tools, strategies, and community they need to prepare the next generation of nurses—confidently and compassionately.”

    With in-person registration currently at capacity, virtual attendance remains open for sessions beginning April 23. Register for the virtual Summit here.

    About ATI Nursing Education
    ATI helps create competent, practice-ready nurses who are dedicated to maintaining public safety and ensuring the future of healthcare. As a leading provider of online learning programs for nursing, ATI supports and helps educate future nurses from admissions, throughout undergraduate and graduate nursing school, and via continuing education over the course of their careers. ATI began in 1998 with the aid of a nurse, and ATI’s team of doctorally- and master’s-prepared nurse educators continue to lead the development of ATI’s psychometrically designed and data-driven solutions. These solutions improve faculty effectiveness, fuel student progress, and advance program outcomes in three distinct areas: assessing performance, remediating problem areas, and predicting future student and program success. For nursing school administrators and nurse educators, ATI is the trusted advisor that consistently drives nursing success. To learn more about ATI, visit www.atitesting.com.

    About Ascend Learning: 
    Ascend Learning is a leading healthcare and learning technology company. With products that span the learning continuum, Ascend Learning focuses on high-growth careers in a range of industries, with a special focus on healthcare and other licensure-driven occupations. Ascend Learning products, from testing to certification, are used by physicians, emergency medical professionals, nurses, allied health professionals, certified personal trainers, financial advisors, skilled trades professionals and insurance brokers. Learn more at www.ascendlearning.com.

    Media Contact
    V2 Communications for Ascend Learning
    ascend@v2comms.com

    The MIL Network –

  • MIL-OSI Global: Endowments aren’t blank checks – but universities can rely on them more heavily in turbulent times

    Source: The Conversation – USA – By Ellen P. Aprill, Senior Scholar in Residence at the UCLA Law School’s Lowell Milken Center For Philanthropy And Nonprofit Law, University of California, Los Angeles

    The Trump administration is demanding that at least 60 U.S. colleges and universities change their policies or lose out on billions of dollars in federal funding.

    In Harvard University’s case, the government has accused the Ivy league school – so far without providing any specific evidence – of violating some students’ civil rights by allowing other students to engage in what the authorities characterize as antisemitic speech. The government has demanded broad oversight of Harvard’s admissions policies, along with changes in its hiring processes and campus culture.

    Harvard stands to lose out on more than US$2.2 billion. It may seem to be better insulated from this pressure than many other schools because it has the nation’s largest educational endowment – a reservoir of stocks, bonds and other financial assets that helps fund its operations, research and scholarships. Harvard’s endowment totaled more than $53 billion in 2024.

    As a nonprofit law scholar, who served in the Treasury Department’s Office of Tax Policy in the 1980s, I study and write about both state and federal law as it applies to nonprofit organizations. I believe that the law permits most colleges and universities to increase spending from their endowments in light of the financial pressures so many of them are facing.

    Precedents for boosting endowment spending

    Not all endowments are alike.

    They tend to be composed of an array of smaller funds, some of which are subject to legal restrictions that make it impossible for the schools they support to freely use those assets.

    Universities must respect the limits donors put on their gifts, such as tying them to specific scholarships, funding jobs held by certain kinds of professors or supporting the construction or maintenance of a particular building.

    It’s up to a university’s governing board to decide how much of the school’s endowment will be spent in a given year.

    As Harvard’s financial report for its 2024 fiscal year puts it: “There is a common misconception that endowments, including Harvard’s, can easily be accessed like checking accounts.” That is definitely not the case.

    Nonetheless, some college and university boards did allow increased endowment spending at the height of the COVID-19 pandemic and the Great Recession, which lasted from late 2007 until mid-2009.

    During that downturn and the financial crisis that precipitated it, the value of endowments, along with most financial assets, plummeted.

    About 80% of Harvard’s 14,000 separate endowment funds are reserved for “specific programs, departments or purposes.” But others are less restricted, Harvard has stated in the financial reports it makes available to the public.

    While it’s always important to proceed with care when spending money reserved for use on a rainy day or to ensure the long-term existence of a revered institution, most colleges and universities are freer to dip into their endowments than they may realize when conditions get stormy.

    Leeway in an important law

    In all states except Pennsylvania, U.S. endowments are subject to a 2006 model law known as the Uniform Prudent Management of Institutional Funds Act.

    Under this law, managing and investing an endowment requires the university to consider its charitable purposes and financial needs, while respecting the intentions of the donors who provided its assets. These are state laws, not federal statutes. In most states, a university may spend as much of an endowment fund as it deems “prudent.”

    Exercising that prudence requires the consideration of several factors.

    They include the purposes of the institution as a whole and the particular endowment fund, prevailing economic conditions, and what other financial resources the institution can tap. However, in almost one-third of states, including California and New York, annually spending more than 7% of an endowment’s fair market value, measured by a three-year average, is presumed to be imprudent.

    But that isn’t a legal maximum because the model law’s drafters noted that “circumstances in a particular year” could easily void that presumption. Based on my study of nonprofit law, including the laws that apply to higher education, I’m confident that this caveat could easily apply to the Trump administration’s education-related spending cuts in 2025, just as it did during the pandemic and the Great Recession.

    What’s more, endowment spending rate by universities in 2024 was 4.8%. As a result, many universities, including those in states with a 7% cap on prudent spending, will likely be able to increase their use of endowment funds to maintain their budgets at prior levels.

    In addition, living donors can release any restriction they placed on the funds they gave universities that are still held in their endowments. Even when those funds are from donors who have died, a university can ask a court to release restrictions that have become impractical or wasteful.

    The Uniform Prudent Management of Institutional Funds Act also permits institutions to lift restrictions on all endowment funds that are more than 20 years old and relatively small. This amount varies from state to state and typically ranges between $25,000 and $100,000

    Archon Fung, a John F. Kennedy School of Government professor, addresses students, faculty and other members of the Harvard University community on April 17, 2025.
    AP Photo/Charles Krupa

    A bias toward accumulating

    In addition to Harvard, other examples of the largest higher education endowments include Yale with $41 billion, Princeton with $34 billion and Columbia, which has some $15 billion. All three are among the 60 schools the Education Department is investigating for allegedly failing to “protect Jewish students on campus.”

    Why do the boards of even these universities tend to hesitate to dip deeply into their endowments when their revenue declines?

    One explanation is that because endowments can enhance a university’s prestige, its leaders and endowment donors have a bias toward accumulating rather than spending. Another is that board members have an obligation to protect their institutions’ long-term viability. Boards also bear a responsibility to preserve funds for a future rainy day, no matter how severe the current turbulence may be, how large the endowment has become or how successful the school’s current fundraising efforts are.

    That may explain why Harvard is reportedly in talks with investment banks about issuing $750 million in bonds that will allow the school to meet its spending needs without dipping so deeply into its endowment.

    More attacks could be on the way

    At the same time, the Trump administration’s trade, fiscal and other policies may continue to roil financial markets, reducing the value of university endowments, for months or years to come.

    The federal government is reportedly looking into whether it can revoke Harvard’s tax-exempt status, a drastic move that would have no comparable precedents.

    In mid-April 2025, Harvard began to push back on the Trump administration’s demands, saying that they violate the free speech rights protected by the Constitution’s First Amendment and “invade university freedoms long recognized by the Supreme Court.” Harvard’s donors have responded to the resistance of the school’s leaders with a flurry of new gifts.

    In my view, it’s reasonable for colleges and universities to consider stepping up their endowment spending due to the Trump administration’s actions that could interfere with higher education revenue. Increasing endowment payouts now could ease, although not fully solve, the mounting crises that colleges and universities of all kinds now face.

    The John F. Kennedy School of Government, commonly referred to as Harvard Kennedy School, is a member of The Conversation U.S.

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

    – ref. Endowments aren’t blank checks – but universities can rely on them more heavily in turbulent times – https://theconversation.com/endowments-arent-blank-checks-but-universities-can-rely-on-them-more-heavily-in-turbulent-times-254909

    MIL OSI – Global Reports –

  • MIL-OSI: American Rebel Light Beer Partners with Charlotte Motor Speedway to be Title Sponsor of American Rebel Light NHRA 4-Wide Nationals

    Source: GlobeNewswire (MIL-OSI)

    Nashville, TN, April 21, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), is thrilled to announce its title sponsorship of the American Rebel Light NHRA 4-Wide Nationals at Charlotte Motor Speedway. This exciting collaboration marks a milestone in the brand’s journey to connect with motorsports enthusiasts across the nation.

    The American Rebel Light NHRA 4-Wide Nationals is one of the most anticipated events in drag racing, showcasing the thrill and intensity of the sport as racers go 4 wide at over 300 miles an hour. With American Rebel Light as the title sponsor, fans can expect a weekend packed with adrenaline-pumping action and patriotic punch.

    “As a brand dedicated to celebrating the American spirit, we couldn’t be more excited to sponsor such an iconic event,” said Todd Porter, President of American Rebel Beverage. “The American Rebel Light NHRA 4-Wide Nationals represents the perfect platform for us to engage with our audience, support motorsports, and share our exceptional beer with racing fans everywhere.”

    “American Rebel is honored to be named entitlement sponsor for the American Rebel Light NHRA 4-Wide Nationals at zMAX Dragway on the Charlotte Motor Speedway property,” said American Rebel CEO Andy Ross. “It’s also an honor to be the entitlement sponsor for the 1,000th Top Fuel event and celebrate that milestone with the NHRA. We’ve been sponsoring Tony Stewart Racing and the Matt Hagan Funny Car for three seasons now and the relationship with Tony, Leah, Matt and everyone in the wider NHRA family has been extraordinary. Our racing marketing program has opened many doors and helped establish numerous critical associations that have advanced American Rebel Beer. Being the title sponsor at Charlotte Motor Speedway will roll out American Rebel Beer in North Carolina in a big way. The only thing better than a weekend at the track and celebrating in victory lane with a cold Rebel Light is bringing the party. I’ll be performing a concert on the midway at the track between Nitro Qualifying Sessions #3 & #4.”

    American Rebel Light will be featured prominently at the event with branded signage all throughout the track, a promotional party tent, and opportunities for fans to sample the beer. In addition, the company plans to host exclusive promotions and giveaways that highlight its commitment to quality and connection.

    The American Rebel Light NHRA 4-Wide Nationals will take place April 25 – 27 at the Charlotte Motor Speedway, promising three days of unforgettable racing action. Tickets are available now at American Rebel Light NHRA 4-Wide Nationals Tickets | Events | Charlotte Motor Speedway.

    About American Rebel Light:

    American Rebel Light is more than just a beer—it’s a celebration of freedom, passion, and quality. Brewed with care and precision, our light beer delivers a refreshing taste that’s perfect for every occasion.

    For more information about American Rebel Light and its sponsorship of the American Rebel Light NHRA 4-Wide Nationals, visit American Rebel Light NHRA 4-Wide Nationals | Events | Charlotte Motor Speedway or follow us on social media @AmericanRebelBeer.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri and North Carolina and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms.

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a domestic premium light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com and americanrebelbeer.com. For investor information, visit americanrebelbeer.com/investor-relations.

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of a launch party, actual launch timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Media Contact:
    Matt Sheldon
    Matt@PrecisionPR.co

    Attachment

    The MIL Network –

  • MIL-OSI USA News: Week 13 Wins: President Trump’s Relentless Pursuit of Prosperity, Opportunity

    Source: The White House

    Another week of successes for the American people is in the books as President Donald J. Trump continues to deliver on his promises.

    Here is a non-comprehensive list of wins in week 13:

    • Americans continued to see early results of President Trump’s commitment to American manufacturing and job growth.
      • Abbott Laboratories announced it will spend $500 million on its Illinois and Texas facilities.
      • NVIDIA announced it will manufacture its AI supercomputers entirely in the U.S. as part of its pledge to produce $500 billion of AI infrastructure in the U.S. over the next four years.
      • Honda Motor Co. announced plans to shift production of the Civic from Japan to the U.S. amid plans to boost its U.S. production by up to 30% in the next several years.
      • Ellwood Group – a small manufacturer of forged steel, nickel and aluminum products – announced a sales increase of 35% quarter-over-quarter following President Trump’s steel tariffs.
    • President Trump continued to secure our border and rid our communities of illegal immigrant criminals.
      • U.S. Border Patrol recorded the fewest illegal crossings at the southwest border on record in March – down 94% lower over last March.Violent terrorist gang members and criminal illegal immigrants continued to be deported to El Salvador.
      • In just the past several days, ICE arrested a host of depraved criminal illegal immigrants, including a convicted rapist in Brooklyn, a convicted murder in Los Angeles, and a convicted arsonist in Virginia.
    • President Trump continued to pursue peace through strength around the world.
      • The Trump administration secured the release of an America missionary held in Tunisia for 13 months.
      • The Trump Administration directed additional successful airstrikes against Houthi terrorists.
    • President Trump signed an order aimed at stopping illegal immigrants and other ineligible individuals from obtaining benefits under the Social Security Act and enhancing investigations into fraud.
    • President Trump took executive action to expand on the historic efforts of his first term to lower prescription drug prices — delivering lower prices for Medicare, providing massive discounts on lifesaving medications, like insulin, for low-income and uninsured Americans, and helping states save millions on prescription drug costs.
    • President Trump opened the Pacific Remote Islands Marine National Monument to commercial fishing, undoing a nonsensical Biden-era ban and boosting the economy of American Samoa and other Pacific islands.
    • President Trump signed an executive order to restore American seafood competitiveness by reducing regulatory burdens, combating unfair foreign trade practices, and enhancing domestic seafood production and exports.
    • President Trump took additional action to ensure government remains accountable to the taxpayers who fund it.
      • President Trump signed a memorandum to ensure government is leveraging modern technology to effectively and efficiently conduct environmental reviews and evaluate permits.
      • President Trump signed an executive order to enforce existing law requiring the federal government to utilize the competitive marketplace and the innovations of private enterprise to provide better, more-cost-effective services to taxpayers.
      • President Trump rescinded two longstanding presidential actions that unnecessarily restricted where federal agencies could site their facilities.
      • President Trump signed an executive order to dramatically simplify and streamline the federal procurement process.
    • President Trump signed an executive order launching an investigation into the national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products.
    • The Department of Justice announced a civil lawsuit against the Maine Department of Education over their consistent and willful refusal to protect women and girls in sports and other private spaces.
    • The Department of the Treasury continued its crackdown on Chinese facilitation of Iranian oil exports, sanctioning various Chinese companies purchasing from, and providing vessels for, Iran’s shadow fleet.
    • The Department of the Interior announced the emergency withdrawal and transfer of jurisdiction of nearly 110,000 acres of federal land along the southern border to support operations in border security.
    • The Trump Administration’s joint task force on Title IX launched an investigation into the University of Maryland over allowing a male athlete to compete in women’s fencing and use women’s-only intimate facilities, and launched an investigation into the University of Maryland and Wagner college for penalizing a female athlete for refusing to compete against a male.
    • Director of National Intelligence Tulsi Gabbard released records on the government’s investigation into the assassination of Senator Robert F. Kennedy.
    • The Department of State canceled 139 grants worth $214 million, including wasteful programs like “Building the Migrant Domestic Worker-Led Movement” in Lebanon or “Get the Trolls Out!” in the United Kingdom.
    • The Department of State scrapped its Global Engagement Center, which was at the center of U.S. government-sponsored censorship and media manipulation.
    • The Department of Health and Human Services launched new studies on the link between environmental toxins and autism.
    • Institutions across the country continued to dissolve their divisive “diversity, equity, and inclusion” programming in response to President Trump’s executive order.
      • James Madison University ended its DEI programming.
      • Ball State University announced it will end its DEI programming.
      • Rochester Community School District in Michigan eliminated its DEI director position.

    MIL OSI USA News –

  • MIL-OSI: North American Construction Group Ltd. First Quarter Results Conference Call and Webcast Notification

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, April 21, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA.TO/NYSE:NOA) announced today that it will release its financial results for the first quarter ended March 31, 2025 on Wednesday, May 14, 2025 after markets close. Following the release of its financial results, NACG will hold a conference call and webcast on Thursday, May 15, 2025, at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time).

    The call can be accessed by dialing:
    Toll free: 1-800-717-1738
    Conference ID: 42703

    A replay will be available through June 12, 2025, by dialing:
    Toll Free: 1-888-660-6264
    Conference ID: 42703
    Playback Passcode: 42703

    A slide deck for the webcast will be available for download the evening prior to the call and will be found on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at: North American Construction Group Ltd. First Quarter Results Conference Call and Webcast Registration

    A replay will be available until June 12, 2025, using the link provided.

    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Australia, Canada, and the U.S. For over 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    For further information, please contact:        

    Jason Veenstra, CPA, CA
    Chief Financial Officer
    North American Construction Group Ltd.
    Phone: (780) 960-7171
    Email: ir@nacg.ca

    The MIL Network –

  • MIL-OSI: Joshua Grass, John Kelly, and Lauren Daniel Join 5AM Ventures

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO and BOSTON, April 21, 2025 (GLOBE NEWSWIRE) — 5AM Ventures, a leading life science venture capital firm, is pleased to announce the addition of operational leadership and investment professionals who bring extraordinary experience to the organization. The appointments of Joshua Grass as Venture Partner, John Kelly as Partner, Chief Financial Officer and Chief Operating Officer, and Lauren Daniel as Chief Compliance Officer and Deputy General Counsel will strengthen the firm’s investment capabilities, financial and operational governance, and regulatory oversight as it continues to expand its portfolio.

    “We’re thrilled to welcome these exceptional leaders to our team,” said Andy Schwab, Managing Parter at 5AM Ventures. “Their collective expertise will be invaluable as we continue to pursue new growth opportunities for our investors and portfolio companies.”

    Joshua Grass, Venture Partner
    Joshua is a seasoned entrepreneur and investor with deep executive management, business development and operational expertise. He was most recently CEO of Escient Pharmaceuticals, a 5AM-backed biotech company developing small molecule therapeutics for neurosensory and inflammatory diseases. Escient was acquired by Incyte in 2024. Prior to Escient he was CEO of Modis Therapeutics after spending 15 years as a member of BioMarin’s senior executive management team leading Business and Corporate Development. Joshua earned a B.S. in Biology from California Polytechnic State University and an MBA in Finance and Entrepreneurship from William E. Simon School of Business at the University of Rochester.

    John Kelly, Partner, Chief Financial Officer & Chief Operating Officer
    John, a seasoned finance and operations professional with twenty-five years of experience, has joined 5AM Ventures as CFO and COO. He was previously CFO and Principal at Axonic Capital responsible for oversight of all aspects of the diverse, multi-strategy funds, management company, general partner and family office entities, including financial and tax reporting, treasury, counterparty management, cost center allocation and budgeting, payroll, and HR programs. John holds a B.S. in Accounting from Villanova School of Business.

    Lauren Daniel, JD, Chief Compliance Officer & Deputy General Counsel
    Lauren brings over fifteen years of experience in fund legal with a strong focus in regulatory compliance and risk management. Before joining 5AM, she served as Chief Compliance Officer and Counsel for Advent Global Opportunities, the public equity-focused platform of the global private equity firm Advent International. Since she joined in August, Lauren has been leading 5AM’s compliance efforts, ensuring that the firm continues to uphold the highest standards of regulatory adherence and governance practices. Lauren holds a B.A. in Political Science from Boston College and a J.D. from the Northwestern University Pritzker School of Law.

    “With Joshua, John, and Lauren onboard, we are excited to scale and refine our financial operations and enhance our ability to navigate complex legal and regulatory landscapes, while continuing to identify and nurture next-generation life science companies aimed at developing transformative therapeutics for patients,” said Kush Parmar, Managing Partner at 5AM Ventures.

    ABOUT 5AM VENTURES
    Founded in 2002, 5AM Ventures is a leading venture capital firm focused on investing in and building next-generation life science companies. Based in San Francisco, Boston, and New York City, 5AM takes a hands-on approach to investing and company building, often going beyond traditional board roles to leverage our diverse team of scientists, clinicians, drug developers and executives throughout a company’s life. With more than $2.2 billion raised since inception, 5AM has invested globally in over 140 public and private companies.

    5AM has helped guide portfolio companies to meaningful value-accretive outcomes.  Across the 5AM funds, over 30 portfolio companies have entered the public markets (e.g., through IPOs) and over 20 portfolio companies have been acquired through M&A.  A full list of portfolio companies, including those companies which have entered the public markets or been exited through M&A, are available on our website. 

    For more information, please visit www.5amventures.com.

    CONTACT
    5AM Ventures
    Michael Calore, Partner and Head of Investor Relations
    Email: ir@5amventures.com

    The MIL Network –

  • MIL-OSI: Aemetis India Plant Receives $31 million of Biodiesel Orders from OMCs for Delivery in Next Three Months

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 21, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, received multiple orders for an aggregate of $31 million for the delivery during May, June and July of more than 33,000 kiloliters of biodiesel to the three government-owned Oil Marketing Companies (OMCs).  

    Additional OMC orders are expected throughout the year in order to continue shipments to fuel blending terminals on an ongoing basis to support the India government goal of increasing from a 1% to 5% biodiesel blend.

    ”Universal Biofuels and other biodiesel producers look forward to continuous support from the government of India to ensure that climate issues are addressed, while ensuring a healthy biodiesel industry,” stated Sanjeev Duggal, CEO of Universal Biofuels.

    “We are pleased with the progress being made in India in support of the 5% biodiesel blending target of more than 1.2 billion gallons per year,” stated Eric McAfee, Chairman and CEO of Aemetis.  “The OMCs did not take deliveries during this past winter and instead decided to issue new orders for biodiesel with deliveries from May to July. Our Universal Biofuels subsidiary has successfully completed deliveries under contracts with the OMCs for the past several years, highlighting our track record for producing and timely delivering high quality renewable fuels at our India plant.”

    Recently, India achieved a 20% ethanol blend into gasoline and the government stated a new 30% blend target for ethanol, enabling further growth in ethanol production and expanding revenues for farmers while reducing the importation of petroleum gasoline into India.

    Universal Biofuels significantly expanded the production capacity of the Kakinada biodiesel plant to 80 million gallons per year during a recent plant upgrade and maintenance cycle, including expansion of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity at a significantly reduced cost. 

    Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased annual biodiesel capacity from 50 million gallons to 80 million gallons last year, with further biodiesel expansion to other locations and diversification into biogas production planned for 2025. To support further growth, Universal Biofuels is preparing for an IPO in India which is expected to be completed in late 2025, subject to continued favorable stock market conditions.

    Universal Biofuels completed $112 million of biodiesel and glycerine shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMC’s are expected to begin in early May under the next round of biodiesel contracts. 

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel plant and a CO2 sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com. 

    Safe Harbor Statement

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

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

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

    The MIL Network –

  • MIL-OSI: Private Bancorp of America, Inc. Announces Strong Net Income and Earnings Per Share for First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights

    • Net income for the first quarter of 2025 was $10.6 million, compared to $10.7 million in the prior quarter and $7.9 million in the first quarter of 2024. Net income for the first quarter of 2025 represents a return on average assets of 1.74% and a return on average tangible common equity of 18.74%
    • Diluted earnings per share for the first quarter of 2025 was $1.80, compared to $1.82 in the prior quarter and $1.36 in the first quarter of 2024
    • Total deposits were $2.19 billion as of March 31, 2025, an increase of $57.7 million or 2.7% from December 31, 2024, which included a reduction in brokered deposits of $96.9 million. Total deposits increased 15.1% year over year. Core deposits were $2.05 billion as of March 31, 2025, an increase of $154.6 million or 8.2% from December 31, 2024. Core deposits increased 27.5% year over year
    • Total cost of deposits was 2.22% for the first quarter of 2025, a decrease from 2.36% in the prior quarter and 2.61% in the first quarter of 2024. The spot rate for total deposits was 2.11% as of March 31, 2025, compared to 2.29% at December 31, 2024. Total cost of funding sources was 2.29% for the first quarter of 2025, a decrease from 2.45% in the prior quarter and 2.70% in the first quarter of 2024
    • Loans held-for-investment (“HFI”) totaled $2.08 billion as of March 31, 2025, a decrease of $6.5 million or 0.3% from December 31, 2024. Loans HFI increased 9.0% year over year
    • Net interest margin was 4.61% for the first quarter of 2025, compared to 4.67% in the prior quarter and 4.31% in the first quarter of 2024
    • Provision for credit losses for the first quarter of 2025 was $0.3 million, compared to $17 thousand for the prior quarter and $0.2 million for the first quarter of 2024. The allowance for loan losses was 1.27% of loans HFI as of March 31, 2025 compared to 1.31% at December 31, 2024
    • As of March 31, 2025, criticized and classified loans totaled $40.8 million, or 1.96% of total loans, up from $24.7 million, or 1.18% of total loans, in the prior quarter
    • Tangible book value per share was $40.29 as of March 31, 2025, an increase of $1.89 since December 31, 2024 primarily as a result of strong earnings. Tangible book value per share increased 4.9% quarter-over-quarter and 20.1% year over year.

    LA JOLLA, Calif., April 21, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the first fiscal quarter ended March 31, 2025. The Company reported net income of $10.6 million, or $1.80 per diluted share, for the first quarter of 2025, compared to $10.7 million, or $1.82 per diluted share, in the prior quarter, and $7.9 million, or $1.36 per diluted share, in the first quarter of 2024.

    Rick Sowers, President and CEO of the Company and the Bank stated, “We continue to be pleased by the Company and the Team’s performance. Strong growth in core deposits over the past year continues and we remain focused on building strong Relationships with our Clients. Loan demand was soft in Q1, as Clients and financial markets digest the current economy and prospects for future growth and stability. We remain optimistic that markets will settle, and demand will return. In the meantime, we are focused on providing the Distinctively Different Service our Clients and Prospects are seeking, getting more efficient and effective in our business through technology, continuous process improvement and building a strong Team throughout the Bank.”

    Sowers added, “The Bank was recognized throughout the last year for superior financial performance and industry leading service metrics. These recognitions highlight CalPrivate Bank’s dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value: 

    • #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets
    • #1 SBA 504 Community Bank Lender in the United States
    • #10 Best U.S. Bank by Bank Director’s RankingBanking®
    • Client Net Promoter Score of 81 (World Class)
    • Bauer 5 Star Rating
    • 2025 Best 50 OTCQX

    “As Los Angeles continues to tackle the enormous task of cleaning up after the devastating fires, CalPrivate Bank remains committed to being a partner to our Clients and the Communities we serve.”

    “As our economy transitions based on priorities of the new administration in Washington DC, and global economic uncertainties increase, management and the board are diligently assessing and acting upon potential future risks and market opportunities. The Bank continues to produce top tier financial results by seeking improved productivity through technology investments, streamlined systems and processes, and hiring top bankers in existing and potential new markets and market segments. We continue to prioritize unparalleled Client service and creative Solutions for our loyal and growing client base. We continue to support a broad range of non-profit organizations in the communities we serve, both through team member volunteering activities and financial resources. Our Team takes great pride in doing well for shareholders by doing good for clients and community,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank.

    STATEMENT OF INCOME

    Net Interest Income

    Net interest income for the first quarter of 2025 totaled $27.7 million, an increase of $0.3 million or 1.2% from the prior quarter and an increase of $5.0 million or 21.8% from the first quarter of 2024. The increase from the prior quarter was due to a $0.5 million decrease in interest expense, resulting from a 22 basis point reduction in the cost of interest-bearing liabilities, primarily driven by a 14 basis point decrease in the cost of total deposits.

    Net Interest Margin

    Net interest margin for the first quarter of 2025 was 4.61%, compared to 4.67% for the prior quarter and 4.31% in the first quarter of 2024. The 6 basis point decrease in net interest margin from the prior quarter was primarily due to lower yields on interest-earning assets and a decrease in prepayment-penalty fees. The yield on interest-earning assets was 6.70% for the first quarter of 2025 compared to 6.89% for the prior quarter, and the cost of interest-bearing liabilities was 3.14% for the first quarter of 2025 compared to 3.36% in the prior quarter. The cost of total deposits was 2.22% for the first quarter of 2025 compared to 2.36% in the prior quarter. The cost of core deposits, which excludes brokered deposits, was 1.99% in the first quarter of 2025 compared to 2.07% in the prior quarter. The spot rate for total deposits was 2.11% as of March 31, 2025, compared to 2.29% at December 31, 2024.

    Provision for Credit Losses

    Provision expense for credit losses for the first quarter of 2025 was $0.3 million, compared to $17 thousand in the prior quarter and $0.2 million in the first quarter of 2024. The provision expense for loans HFI for the first quarter of 2025 was $0.5 million, primarily reflecting heightened macroeconomic uncertainty incorporated into our forecasts. This was offset by a $0.2 million reversal for unfunded commitments due to increased line of credit utilization that resulted in lower unfunded commitment balances. For more details, please refer to the “Asset Quality” section below.

    Noninterest Income

    Noninterest income was $1.6 million for the first quarter of 2025, compared to $1.9 million in the prior quarter and $1.4 million in the first quarter of 2024. SBA loan sales for the first quarter of 2025 were $8.3 million with a 10.86% average trade premium resulting in a net gain on sale of $469 thousand, compared with $14.9 million with a 11.45% average trade premium resulting in a net gain on sale of $932 thousand in the prior quarter.

    Noninterest Expense

    Noninterest expense was $14.1 million for the first quarter of 2025, compared to $14.2 million in the prior quarter and $12.8 million in the first quarter of 2024. The efficiency ratio was 47.90% for the first quarter of 2025 compared to 48.34% in the prior quarter and 52.84% in the first quarter of 2024. The slight decrease in the efficiency ratio from the prior quarter was due to the decrease in noninterest expense.

    The Company remains committed to making investments in the business, including technology, marketing, and staffing. Inflationary pressures and low unemployment continue to have an impact on rising wages as well as increased costs related to third party service providers, which we proactively monitor and manage.

    Provision for Income Tax Expense

    Provision for income tax expense was $4.4 million for the first quarter of 2025, compared to $4.5 million for the prior quarter. The effective tax rate for the first quarter of 2025 was 29.5%, compared to 29.6% in the prior quarter and 29.5% in the first quarter of 2024.

    STATEMENT OF FINANCIAL CONDITION

    As of March 31, 2025, total assets were $2.48 billion, an increase of $58.9 million since December 31, 2024. The increase in assets from the prior quarter was primarily due to higher cash and due from banks and investment securities, partially offset by lower loans receivable. Our total cash and due from banks increased to $218.5 million as of March 31, 2025, an increase of $54.6 million or 33.3% since December 31, 2024, primarily due to strong growth in core deposits along with lower loan demand. Investment securities available-for-sale (“AFS”) were $156.3 million as of March 31, 2025, an increase of $11.1 million or 7.6% since December 31, 2024, primarily as a result of new securities purchased. As of March 31, 2025, the net unrealized loss on the AFS investment securities portfolio, which is comprised mostly of US Treasury and Government Agency debt, was $10.1 million (pre-tax) compared to a loss of $12.1 million (pre-tax) as of December 31, 2024. The average duration of the Bank’s AFS portfolio is 3.8 years. The Company has no held-to-maturity securities. Loans HFI totaled $2.08 billion as of March 31, 2025, a decrease of $6.5 million or 0.3% since December 31, 2024, reflecting lower loan production as borrowers deferred new financings amid economic and interest-rate uncertainty as well as wildfire-related disruptions in Southern California.

    Total deposits were $2.19 billion as of March 31, 2025, an increase of $57.7 million since December 31, 2024. During the quarter, core deposits increased by $154.6 million, which was driven by a $108.9 million increase in interest-bearing core deposits (including balances in the Intrafi ICS and CDARS programs) and a $45.7 million increase in noninterest-bearing core deposits. The deposit mix has continued to shift due to short-term interest rates remaining elevated compared to recent years. Noninterest-bearing deposits represent 29.2% of total core deposits. Offsetting the increase to total deposits from core deposits, brokered deposits decreased by $96.9 million. Uninsured deposits, net of collateralized and fiduciary deposit accounts, represent 50.1% of total deposits as of March 31, 2025.

    As of March 31, 2025, total available liquidity was $2.1 billion or 192.8% of uninsured deposits, net of collateralized and fiduciary deposit accounts. Total available liquidity is comprised of $366 million of on-balance sheet liquidity (cash and investment securities) and $1.8 billion of unused borrowing capacity.

    Asset Quality and Allowance for Credit Losses (“ACL”)

    As of March 31, 2025, the allowance for loan losses was $26.4 million or 1.27% of loans HFI, compared to $27.3 million or 1.31% of loans HFI as of December 31, 2024. The decrease in the coverage ratio from December 31, 2024 is due primarily to a $1.1 million partial charge-off of a nonaccrual loan that previously had a specific reserve of $2.0 million. The Company continues to have strong credit metrics and its nonperforming assets are 0.63% of total assets as of March 31, 2025 compared to 0.47% as of December 31, 2024. The reserve for unfunded commitments was $1.3 million as of March 31, 2025, compared to $1.5 million as of December 31, 2024. The decrease in the reserve for unfunded commitments was due to lower unfunded commitment balances (driven by higher credit line usage). Given the credit quality of the loan portfolio, management believes we are sufficiently reserved.

    At March 31, 2025 and December 31, 2024, there were no doubtful credits and classified assets were $27.8 million and $14.9 million, respectively. Total classified assets consisted of 20 loans as of March 31, 2025, which included 17 loans totaling $24.7 million secured by real estate with a weighted average LTV of 52.7%, of which 11 loans totaling $16.4 million had SBA guarantees. The remaining three loans were $3.1 million of commercial and industrial loans, one of which was an unsecured loan on nonaccrual status with a carrying value of $1.5 million and a specific reserve of $1.0 million (net of a $1.1 million partial charge off).

    The Bank’s loan portfolio does include assets that are in the affected areas of Los Angeles devastated by wildfires. However, based on assessments performed to date, management does not believe there is a material impact to the financial statements.

    Capital Ratios (2)

    The Bank’s capital ratios were in excess of the levels established for “well capitalized” institutions and are as follows:

      March 31, 2025(2) December 31, 2024
    CalPrivate Bank    
    Tier I leverage ratio 10.35% 10.39%
    Tier I risk-based capital ratio 11.75% 11.29%
    Total risk-based capital ratio 13.00% 12.54%

    (2) March 31, 2025 capital ratios are preliminary and subject to change.

    About Private Bancorp of America, Inc. (OTCQX: PBAM)

    PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, and Beverly Hills, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior funding Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely-held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost 3x higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs,  cross border banking, and innovative, unique technologies that drive enhanced  client performance. CalPrivate Bank has been recognized by Bank Director’s RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.

    CalPrivate Bank’s website is www.calprivate.bank.

    Non-GAAP Financial Measures

    This press release contains certain non-GAAP financial measures in addition to results presented in accordance with GAAP, including adjusted income before provision for income taxes, adjusted net income, adjusted diluted earnings per share (“Adjusted EPS”), efficiency ratio, adjusted efficiency ratio, pretax pre-provision net revenue, average tangible common equity, adjusted return on average assets, return on average tangible common equity and adjusted return on average tangible common equity. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s results of operations and financial condition and to enhance investors’ overall understanding of such results of operations and financial condition, to permit investors to effectively analyze financial trends of our business activities, and to enhance comparability with peers across the financial services sector. These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures prepared in accordance with GAAP and should be read in conjunction with the Company’s GAAP financial information. A reconciliation of the most comparable GAAP financial measures to non-GAAP financial measures is included in the accompanying financial tables.

    Investor Relations Contacts

    Rick Sowers
    President and Chief Executive Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (424) 303-4894

    Cory Stewart
    Executive Vice President and Chief Financial Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (206) 293-3669

    Safe Harbor Paragraph

    This communication contains expressions of expectations, both implied and explicit, that are “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we believe in good faith the assumptions and bases supporting our forward-looking statements to be reasonable, there can be no assurance that those assumptions and bases will prove accurate.

    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED BALANCE SHEET
    (Unaudited)
    (Dollars in thousands)
     
        Mar 31, 2025     Dec 31, 2024     Mar 31, 2024  
    Assets                  
    Cash and due from banks   $ 34,720     $ 16,528     $ 13,136  
    Interest-bearing deposits in other financial institutions     16,155       10,419       34,790  
    Interest-bearing deposits at Federal Reserve Bank     167,606       136,929       93,575  
    Total cash and due from banks     218,481       163,876       141,501  
    Interest-bearing time deposits with other institutions     4,213       4,189       4,032  
    Investment debt securities available for sale     156,346       145,238       114,067  
    Loans held for sale     2,066       3,008       383  
    Loans, net of deferred fees and costs and unaccreted discounts     2,078,653       2,085,149       1,906,992  
    Allowance for loan losses     (26,437 )     (27,267 )     (24,693 )
    Loans held-for-investment, net of allowance     2,052,216       2,057,882       1,882,299  
    Federal Home Loan Bank stock, at cost     9,586       9,586       8,915  
    Operating lease right of use assets     6,383       6,819       2,765  
    Premises and equipment, net     2,432       2,335       1,804  
    Servicing assets, net     1,993       2,087       2,203  
    Accrued interest receivable     8,148       7,993       7,931  
    Other assets     21,009       20,998       21,877  
    Total assets   $ 2,482,873     $ 2,424,011     $ 2,187,777  
                       
    Liabilities and Shareholders’ Equity                  
    Liabilities                  
    Noninterest bearing   $ 599,095     $ 553,405     $ 516,294  
    Interest bearing     1,593,014       1,581,054       1,388,381  
    Total deposits     2,192,109       2,134,459       1,904,675  
    FHLB borrowings     16,000       28,000       53,000  
    Other borrowings     17,970       17,969       17,963  
    Accrued interest payable and other liabilities     21,559       20,049       18,107  
    Total liabilities     2,247,638       2,200,477       1,993,745  
                       
    Shareholders’ equity                  
    Common stock     76,156       75,377       74,105  
    Additional paid-in capital     3,712       4,393       4,108  
    Retained earnings     162,462       152,252       124,464  
    Accumulated other comprehensive (loss) income, net     (7,095 )     (8,488 )     (8,645 )
    Total shareholders’ equity     235,235       223,534       194,032  
    Total liabilities and shareholders’ equity   $ 2,482,873     $ 2,424,011     $ 2,187,777  
                             
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (Dollars in thousands, except per share amounts)    		  
       
        For the three months ended  
        Mar 31, 2025     Dec 31, 2024     Mar 31, 2024  
    Interest Income                  
    Loans   $ 36,565     $ 37,259     $ 33,006  
    Investment securities     1,505       1,510       979  
    Deposits in other financial institutions     2,198       1,661       1,799  
    Total interest income     40,268       40,430       35,784  
                       
    Interest Expense                  
    Deposits     11,899       12,297       12,130  
    Borrowings     637       726       886  
    Total interest expense     12,536       13,023       13,016  
                       
    Net interest income     27,732       27,407       22,768  
    Provision for credit losses     299       17       233  
    Net interest income after provision for credit losses     27,433       27,390       22,535  
                       
    Noninterest income:                  
    Service charges on deposit accounts     557       558       388  
    Net gain on sale of loans     469       932       681  
    Other noninterest income     587       456       357  
    Total noninterest income     1,613       1,946       1,426  
                       
    Noninterest expense:                  
    Compensation and employee benefits     9,748       9,539       8,861  
    Occupancy and equipment     844       847       770  
    Data processing     1,326       1,195       1,058  
    Professional services     508       573       488  
    Other expenses     1,629       2,036       1,606  
    Total noninterest expense     14,055       14,190       12,783  
    Income before provision for income taxes     14,991       15,146       11,178  
    Provision for income taxes     4,429       4,488       3,294  
    Net income   $ 10,562     $ 10,658     $ 7,884  
    Net income available to common shareholders   $ 10,482     $ 10,573     $ 7,832  
                       
    Earnings per share                  
    Basic earnings per share   $ 1.83     $ 1.85     $ 1.38  
    Diluted earnings per share   $ 1.80     $ 1.82     $ 1.36  
                       
    Average shares outstanding     5,734,688       5,716,291       5,679,843  
    Diluted average shares outstanding     5,826,229       5,813,197       5,754,937  
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)    		  
       
        For the three months ended  
        Mar 31, 2025     Dec 31, 2024     Mar 31, 2024  
        Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		  
    Interest-Earnings Assets                                                      
    Deposits in other financial institutions   $ 202,907     $ 2,198       4.39 %   $ 143,053     $ 1,661       4.62 %   $ 135,511     $ 1,799       5.34 %
    Investment securities     157,747       1,505       3.82 %     155,768       1,510       3.88 %     119,690       979       3.27 %
    Loans, including LHFS     2,078,588       36,565       7.13 %     2,036,178       37,259       7.28 %     1,868,308       33,006       7.11 %
    Total interest-earning assets     2,439,242       40,268       6.70 %     2,334,999       40,430       6.89 %     2,123,509       35,784       6.78 %
    Noninterest-earning assets     28,536                   24,951                   25,469              
    Total Assets   $ 2,467,778                 $ 2,359,950                 $ 2,148,978              
                                                           
    Interest-Bearing Liabilities                                                      
    Interest bearing DDA, excluding brokered     244,301       970       1.61 %     178,811       634       1.41 %     109,838       441       1.61 %
    Savings & MMA, excluding brokered     955,259       6,830       2.90 %     904,191       6,991       3.08 %     765,770       6,421       3.37 %
    Time deposits, excluding brokered     196,375       1,956       4.04 %     191,794       2,004       4.16 %     155,703       1,583       4.09 %
    Total deposits, excluding brokered     1,395,935       9,756       2.83 %     1,274,796       9,629       3.00 %     1,031,311       8,445       3.29 %
    Total brokered deposits     183,059       2,143       4.75 %     218,792       2,668       4.85 %     287,885       3,685       5.15 %
    Total Interest-Bearing Deposits     1,578,994       11,899       3.06 %     1,493,588       12,297       3.28 %     1,319,196       12,130       3.70 %
                                                           
    FHLB advances     24,122       272       4.57 %     29,446       343       4.63 %     49,935       614       4.95 %
    Other borrowings     17,981       365       8.23 %     17,967       383       8.48 %     17,962       272       6.09 %
    Total Interest-Bearing Liabilities     1,621,097       12,536       3.14 %     1,541,001       13,023       3.36 %     1,387,093       13,016       3.77 %
                                                           
    Noninterest-bearing deposits     594,408                   577,462                   553,541              
    Total Funding Sources     2,215,505       12,536       2.29 %     2,118,463       13,023       2.45 %     1,940,634       13,016       2.70 %
                                                           
    Noninterest-bearing liabilities     21,542                   21,524                   18,018              
    Shareholders’ equity     230,731                   219,963                   190,326              
                                                           
    Total Liabilities and Shareholders’ Equity   $ 2,467,778                 $ 2,359,950                 $ 2,148,978              
                                                           
    Net interest income/spread         $ 27,732       4.41 %         $ 27,407       4.44 %         $ 22,768       4.08 %
    Net interest margin                 4.61 %                 4.67 %                 4.31 %
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Balance Sheets
    (Unaudited)
    (Dollars in thousands, except per share amounts)    		  
       
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Assets                              
    Cash and due from banks   $ 218,481     $ 163,876     $ 207,174     $ 158,377     $ 141,501  
    Interest-bearing time deposits with other institutions     4,213       4,189       4,124       4,097       4,032  
    Investment securities     156,346       145,238       141,100       121,725       114,067  
    Loans held for sale     2,066       3,008       2,040       –       383  
    Total loans held-for-investment     2,078,653       2,085,149       2,012,457       1,979,720       1,906,992  
    Allowance for loan losses     (26,437 )     (27,267 )     (26,594 )     (26,591 )     (24,693 )
    Loans held-for-investment, net of allowance     2,052,216       2,057,882       1,985,863       1,953,129       1,882,299  
    Operating lease right of use assets     6,383       6,819       4,344       4,719       2,765  
    Premises and equipment, net     2,432       2,335       2,345       2,207       1,804  
    Other assets and interest receivable     40,736       40,664       39,383       41,430       40,926  
    Total assets   $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684     $ 2,187,777  
                                   
    Liabilities and Shareholders’ Equity                              
    Liabilities                              
    Noninterest Bearing   $ 599,095     $ 553,405     $ 584,292     $ 557,055     $ 516,294  
    Interest Bearing     1,593,014       1,581,054       1,522,839       1,444,671       1,388,381  
    Total Deposits     2,192,109       2,134,459       2,107,131       2,001,726       1,904,675  
    Borrowings     33,970       45,969       45,967       65,965       70,963  
    Accrued interest payable and other liabilities     21,559       20,049       19,062       16,551       18,107  
    Total liabilities     2,247,638       2,200,477       2,172,160       2,084,242       1,993,745  
    Shareholders’ equity                              
    Common stock     76,156       75,377       74,688       74,636       74,105  
    Additional paid-in capital     3,712       4,393       4,271       3,717       4,108  
    Retained earnings     162,462       152,252       141,623       132,179       124,464  
    Accumulated other comprehensive (loss) income     (7,095 )     (8,488 )     (6,369 )     (9,090 )     (8,645 )
    Total shareholders’ equity     235,235       223,534       214,213       201,442       194,032  
    Total liabilities and shareholders’ equity   $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684     $ 2,187,777  
                                   
    Book value per common share   $ 40.63     $ 38.76     $ 37.21     $ 35.03     $ 33.94  
    Tangible book value per common share(1)   $ 40.29     $ 38.40     $ 36.87     $ 34.65     $ 33.55  
    Shares outstanding     5,789,306       5,766,810       5,756,207       5,751,143       5,717,519  

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

       
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Statements of Income
    (Unaudited)
    (Dollars in thousands, except per share amounts)    		  
       
      For the three months ended  
      Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Interest income $ 40,268     $ 40,430     $ 40,018     $ 38,662     $ 35,784  
    Interest expense   12,536       13,023       14,311       13,992       13,016  
    Net interest income   27,732       27,407       25,707       24,670       22,768  
    Provision for credit losses   299       17       304       2,136       233  
    Net interest income after provision for credit losses   27,433       27,390       25,403       22,534       22,535  
                                 
    Service charges on deposit accounts   557       558       504       430       388  
    Net gain on sale of loans   469       932       587       661       681  
    Other noninterest income   587       456       343       447       357  
    Total noninterest income   1,613       1,946       1,434       1,538       1,426  
                                 
    Compensation and employee benefits   9,748       9,539       9,422       8,836       8,861  
    Occupancy and equipment   844       847       818       822       770  
    Data processing   1,326       1,195       1,238       1,183       1,058  
    Professional services   508       573       252       424       488  
    Other expenses   1,629       2,036       1,695       1,697       1,606  
    Total noninterest expense   14,055       14,190       13,425       12,962       12,783  
                                 
    Income before provision for income taxes   14,991       15,146       13,412       11,110       11,178  
    Income taxes   4,429       4,488       3,959       3,283       3,294  
    Net income $ 10,562     $ 10,658     $ 9,453     $ 7,827     $ 7,884  
    Net income available to common shareholders $ 10,482     $ 10,573     $ 9,373     $ 7,761     $ 7,832  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.83     $ 1.85     $ 1.64     $ 1.36     $ 1.38  
    Diluted earnings per share $ 1.80     $ 1.82     $ 1.63     $ 1.35     $ 1.36  
                                 
    Average shares outstanding   5,734,688       5,716,291       5,707,723       5,702,938       5,679,843  
    Diluted average shares outstanding   5,826,229       5,813,197       5,767,401       5,762,616       5,754,937  
      Performance Ratios  
      Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    ROAA   1.74 %     1.80 %     1.62 %     1.40 %     1.48 %
    ROAE   18.56 %     19.28 %     18.00 %     15.81 %     16.66 %
    ROATCE(1)   18.74 %     19.46 %     18.18 %     15.99 %     16.86 %
    Net interest margin   4.61 %     4.67 %     4.44 %     4.48 %     4.31 %
    Net interest spread   4.41 %     4.44 %     4.20 %     4.24 %     4.08 %
    Efficiency ratio(1)   47.90 %     48.34 %     49.46 %     49.46 %     52.84 %
    Noninterest expense / average assets   2.31 %     2.39 %     2.29 %     2.32 %     2.39 %

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)    		  
       
        Selected Quarterly Average Balances  
        (Dollars in thousands)  
        For the three months ended  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Total assets   $ 2,467,778     $ 2,359,950     $ 2,328,399     $ 2,241,860     $ 2,148,978  
    Earning assets   $ 2,439,242     $ 2,334,999     $ 2,303,537     $ 2,216,185     $ 2,123,509  
    Total loans, including loans held for sale   $ 2,078,588     $ 2,036,178     $ 1,989,748     $ 1,939,746     $ 1,868,308  
    Total deposits   $ 2,173,402     $ 2,071,050     $ 2,047,197     $ 1,961,099     $ 1,872,737  
    Total shareholders’ equity   $ 230,731     $ 219,963     $ 208,889     $ 199,088     $ 190,326  
        Loan Balances by Type  
        (Dollars in thousands)  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Commercial Real Estate (CRE):                              
    Investor owned   $ 577,512     $ 572,659     $ 560,481     $ 566,314     $ 573,587  
    Owner occupied     228,232       223,442       221,364       216,876       216,123  
    Multifamily     163,218       162,330       175,387       177,390       175,629  
    Secured by single family     200,650       198,579       190,738       181,744       157,092  
    Land and construction     70,293       62,638       68,186       58,109       35,975  
    SBA secured by real estate     402,524       401,990       395,646       388,271       385,416  
    Total CRE     1,642,429       1,621,638       1,611,802       1,588,704       1,543,822  
    Commercial business:                              
    Commercial and industrial     417,258       441,182       383,874       378,161       352,417  
    SBA non-real estate secured     17,004       20,205       15,101       10,758       8,657  
    Total commercial business     434,262       461,387       398,975       388,919       361,074  
    Consumer     1,962       2,124       1,680       2,097       2,096  
    Total loans held for investment   $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720     $ 1,906,992  
                                             
        Deposits by Type  
        (Dollars in thousands)  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Noninterest-bearing DDA   $ 599,095     $ 553,405     $ 584,292     $ 557,055     $ 516,294  
    Interest-bearing DDA, excluding brokered     257,720       251,594       182,268       156,253       117,129  
    Savings & MMA, excluding brokered     981,491       887,740       920,219       861,508       812,841  
    Time deposits, excluding brokered     210,845       201,851       186,583       168,664       160,605  
    Total deposits, excluding brokered     2,049,151       1,894,590       1,873,362       1,743,480       1,606,869  
    Total brokered deposits     142,958       239,869       233,769       258,246       297,806  
    Total deposits   $ 2,192,109     $ 2,134,459     $ 2,107,131     $ 2,001,726     $ 1,904,675  
                                             
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)    		  
       
        Rollforward of Allowance for Credit Losses  
        (Dollars in thousands)  
        For the three months ended  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Allowance for loan losses:                              
    Beginning balance   $ 27,267     $ 26,594     $ 26,591     $ 24,693     $ 24,476  
    Provision for loan losses     460       673       3       1,994       251  
    Net (charge-offs) recoveries     (1,290 )     –       –       (96 )     (34 )
    Ending balance     26,437       27,267       26,594       26,591       24,693  
    Reserve for unfunded commitments     1,348       1,509       2,165       1,865       1,723  
    Total allowance for credit losses   $ 27,785     $ 28,776     $ 28,759     $ 28,456     $ 26,416  
        Asset Quality  
        (Dollars in thousands)  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Total loans held-for-investment   $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720     $ 1,906,992  
    Allowance for loan losses   $ (26,437 )   $ (27,267 )   $ (26,594 )   $ (26,591 )   $ (24,693 )
    30-89 day past due loans   $ 2,399     $ 1,952     $ –     $ –     $ –  
    90+ day past due loans   $ 13,223     $ 11,512     $ 11,512     $ 2,500     $ 3,530  
    Nonaccrual loans   $ 15,565     $ 11,512     $ 11,512     $ 2,500     $ 4,656  
    NPAs / Assets     0.63 %     0.47 %     0.48 %     0.11 %     0.21 %
    NPLs / Total loans held-for-investment & OREO     0.75 %     0.55 %     0.57 %     0.13 %     0.24 %
    Net quarterly charge-offs (recoveries)   $ 1,290     $ –     $ –     $ 96     $ 34  
    Net charge-offs (recoveries) /avg loans (annualized)     0.25 %     0.00 %     0.00 %     0.02 %     0.01 %
    Allowance for loan losses to loans HFI     1.27 %     1.31 %     1.32 %     1.34 %     1.29 %
    Allowance for loan losses to nonaccrual loans     169.85 %     236.86 %     231.01 %     1,063.64 %     530.35 %


    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

    The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, pretax pre-provision net revenue, average tangible common equity, and return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.

        GAAP to Non-GAAP Reconciliation  
        (Dollars in thousands)  
                                   
        For the three months ended  
        Mar 31, 2025     Dec 31, 2024     Sep 30, 2024     Jun 30, 2024     Mar 31, 2024  
    Efficiency Ratio                              
    Noninterest expense   $ 14,055     $ 14,190     $ 13,425     $ 12,962     $ 12,783  
    Net interest income     27,732       27,407       25,707       24,670       22,768  
    Noninterest income     1,613       1,946       1,434       1,538       1,426  
    Total net interest income and noninterest income     29,345       29,353       27,141       26,208       24,194  
    Efficiency ratio (non-GAAP)     47.90 %     48.34 %     49.46 %     49.46 %     52.84 %
                                   
    Pretax pre-provision net revenue                              
    Net interest income   $ 27,732     $ 27,407     $ 25,707     $ 24,670     $ 22,768  
    Noninterest income     1,613       1,946       1,434       1,538       1,426  
    Total net interest income and noninterest income     29,345       29,353       27,141       26,208       24,194  
    Less: Noninterest expense     14,055       14,190       13,425       12,962       12,783  
    Pretax pre-provision net revenue (non-GAAP)   $ 15,290     $ 15,163     $ 13,716     $ 13,246     $ 11,411  
                                   
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity                              
    Net income   $ 10,562     $ 10,658     $ 9,453     $ 7,827     $ 7,884  
    Average assets     2,467,778       2,359,950       2,328,399       2,241,860       2,148,978  
    Average shareholders’ equity     230,731       219,963       208,889       199,088       190,326  
    Less: Average intangible assets     2,098       2,028       2,051       2,163       2,208  
    Average tangible common equity (non-GAAP)     228,633       217,935       206,838       196,925       188,118  
                                   
    Return on average assets     1.74 %     1.80 %     1.62 %     1.40 %     1.48 %
    Return on average equity     18.56 %     19.28 %     18.00 %     15.81 %     16.66 %
    Return on average tangible common equity (non-GAAP)     18.74 %     19.46 %     18.18 %     15.99 %     16.86 %
                                   
    Tangible book value per share                              
    Total equity     235,235       223,534       214,213       201,442       194,032  
    Less: Total intangible assets     1,993       2,087       2,006       2,164       2,203  
    Total tangible equity     233,242       221,447       212,207       199,278       191,829  
    Shares outstanding     5,789,306       5,766,810       5,756,207       5,751,143       5,717,519  
    Tangible book value per share (non-GAAP)   $ 40.29     $ 38.40     $ 36.87     $ 34.65     $ 33.55  

    The MIL Network –

  • MIL-OSI Economics: Lumma Stealer – Tracking distribution channels

    Source: Securelist – Kaspersky

    Headline: Lumma Stealer – Tracking distribution channels

    Introduction

    The evolution of Malware-as-a-Service (MaaS) has significantly lowered the barriers to entry for cybercriminals, with information stealers becoming one of the most commercially successful categories in this underground economy. Among these threats, Lumma Stealer has emerged as a particularly sophisticated player since its introduction in 2022 by the threat actor known as Lumma. Initially marketed as LummaC2, this information stealer quickly gained traction in underground forums, with prices starting at $250. As of March 2025, its presence on dark web marketplaces and Telegram channels continues to grow, with over a thousand active subscribers.

    LummaC2 seller’s official website

    Lumma delivery usually involves human interaction, such as clicking a link, running malicious commands, etc. Recently, while investigating an incident as part of our incident response services, our Global Emergency Response Team (GERT) encountered Lumma on a customer’s system. The analysis revealed that the incident was triggered by human interaction, namely the user was tricked into executing a malicious command by a fake CAPTCHA page. In this article, we will review in detail how the fake CAPTCHA campaign works and share a list of IoCs that we discovered during our analysis and investigation of the campaign. Although we already described this distribution method in an earlier article, more details about this campaign have been discovered since then.

    Lumma Stealer’s distribution vectors

    Lumma Stealer’s distribution methods are diverse, using common techniques typically seen in information-stealing malware campaigns. Primary infection vectors include phishing emails with malicious attachments or links, as well as trojanized legitimate applications. These deceptive tactics trick users into executing the malware, which runs silently in the background harvesting valuable data. Lumma has also been observed using exploit kits, social engineering, and compromised websites to extend its reach and evade detection by security solutions. In this article, we’ll focus mainly on the fake CAPTCHA distribution vector.

    This vector involves fake verification pages that resemble legitimate services, often hosted on platforms that use Content Delivery Networks (CDNs). These pages typically masquerade as frequently used CAPTCHAs, such as Google reCAPTCHA or Cloudflare CAPTCHA, to trick users into believing they are interacting with a trusted service.

    Fake CAPTCHA distribution vectors

    Fake CAPTCHA distribution scheme

    There are two types of resources used to promote fake CAPTCHA pages:

    • Pirated media, adult content, and cracked software sites. The attackers clone these websites and inject malicious advertisements into the cloned page that redirect users to a malicious CAPTCHA.
    • Fake Telegram channels for pirated content and cryptocurrencies. The attackers create Telegram channels with names containing keywords related to cryptocurrencies or pirated content, such as software, movies, etc. When a user searches for such content, the fraudulent channels appear at the top of the search. The attackers also use social media posts to lure victims to these channels. When a user joins such a channel, they are prompted to complete an identity verification via a fraudulent “Safeguard Captcha” bot.

      Safeguard Captcha bot

      Once the user clicks the Verify button, the bot opens a pop-up page with a fake CAPTCHA.

    Fake CAPTCHA page

    Users are presented with a pop-up page that looks like a standard CAPTCHA verification, prompting them to click I’m not a robot/Verify/Copy or some similar button. However, this is where the deception begins.

    Fake CAPTCHA page examples

    Fake page malicious content

    When the I’m not a robot/Verify/Copy button is clicked, the user is instructed to perform an unusual sequence:

    • Open the Run dialog(Win+R)
    • Press Ctrl+V
    • Hit Enter

    Without the user’s knowledge, clicking the button automatically copies a PowerShell command to the clipboard. Once the user pastes the command into the Run dialog and presses Enter, the system executes the command.

    Examples of scripts copied to the clipboard and executed via the Run dialog

    The command may vary slightly from site to site and changes every few days, but it is typically used to download Lumma Stealer from a remote server, which is usually a known CDN with a free trial period or a legitimate code hosting and collaboration platform such as GitHub, and begin the malware installation process. Let’s take a closer look at this infection chain using the following command that was executed in our customer’s incident as an example:

    Command triggering Lumma’s infection chain

    The command is rather simple. It decodes and runs the contents from the remote win15.txt file hosted at https[:]//win15.b-cdn[.]net/win15.txt. The win15.txt file contains a Base64-encoded PowerShell script that then downloads and runs the Lumma Stealer. When decoded, the malicious PowerShell script looks like this:

    Contents of win15.txt

    The script performs the following actions:

    1. Downloads the malware. It downloads the win15.zip file from https[:]//win15.b-cdn[.]net/win15.zip to [User Profile]AppDataRoamingbFylC6zX.zip.
    2. Extracts the malware. The downloaded ZIP file is extracted to C:Users[User]AppDataRoaming7oCDTWYu, a hidden folder under the user’s AppData directory.
    3. Executes the malware. The script runs the Set-up.exe file from the unpacked archive, which is now located at C:Users[User]AppDataRoaming7oCDTWYuSet-up.exe.
    4. Establishes persistence mechanism. The script creates an entry in the Windows Registry for persistency, ensuring that the malware runs every time the system starts. The registry key is added under HKCU:SOFTWAREMicrosoftWindowsCurrentVersionRun. The key name is 5TQjtTuo, with the value pointing to Set-up.exe.

    However, in some cases, the malware delivery mechanism can be more complex. In the following example, the delivery script is a JavaScript code hidden in what looks like an .mp3 file (other file formats such as .mp4 and .png have also been used). In fact, in addition to the JavaScript, the file may contain a corrupt .mp3/.mp4 file, legitimate software code, or just random data.

    The script is executed using the Microsoft HTML Application engine mshta.exe by prompting the user to paste the following command into the Run dialog box:

    Command triggering JS-based infection chain

    The mshta command parses the file as an HTA file (Microsoft HTML Application) and executes any JavaScript code within the  tag, triggering the following infection chain:

    Layer (1)

    The JS script inside the .mp3 file is executed by mshta.

    JS script within the never.mp3 file

    Layer (2)

    After calculating the Kwb value, the following script is obtained, which is then executed by the eval function.

    Layer (2) JS script

    Layer (3)

    After calculating the values for kXN and zzI, the final ActiveX command is built and executed. It contains an encoded PowerShell script in the $PBwR variable.

    Deobfuscated Layer (2) JS script

    Layer (4)

    After decoding the PowerShell script, we found that its main purpose is to download and execute another PowerShell file from the C2 path hXXps://connect[.]klipfuzj[.]shop/firefire[.]png.

    Decrypted Layer (3) PowerShell script

    Analysis for firefire.png

    The file firefire.png is a huge PowerShell file (~31MB) with several layers of obfuscation and anti-debugging. After deobfuscating and removing unnecessary code, we could see that the main purpose of the file is to generate and execute an encrypted PowerShell script as follows:

    firefire.png

    The decryption key is the output of the Invoke-Metasploit command, which is blocked if the AMSI is enabled. As a result, an error message is generated by the AMSI: AMSI_RESULT_NOT_DETECTED, which is used as the key. If the AMSI is disabled, the malware will fail to decrypt the script.

    The decrypted PowerShell script is approximately 1.5MB in size and its main purpose is to create and run a malicious executable file.

    Decrypted PowerShell script

    Infection methods and techniques

    Lumma Stealer has been observed in the wild using a variety of infection methods, with two primary techniques standing out in its distribution campaigns: DLL sideloading and injection of a malicious payload into the overlay section of legitimate free software. These techniques are particularly effective at evading detection because they exploit the trust that users place in widely used applications and system processes.

    • DLL sideloading

      DLL sideloading is a well-known technique where malicious dynamic link libraries (DLLs) are loaded by a legitimate application. This technique exploits vulnerabilities or misconfigurations in software that inadvertently load DLL files from untrusted directories. Attackers can drop the Lumma Stealer DLL in the same directory as a trusted application, causing it to load when the application is executed. Because the malicious DLL is loaded in the context of a trusted process, it is much harder for traditional security measures to detect the intrusion.

    • Injection of malicious payload into the overlay section of software

      Another method commonly used by Lumma Stealer is to inject a malicious payload into the overlay section of free software. The overlay section is typically used for legitimate software functionality, such as displaying graphical interfaces or handling certain input events. By modifying this section of the software, the adversary can inject the malicious payload without disrupting the normal operation of the application. This method is particularly insidious because the software continues to appear legitimate while the malicious code silently executes in the background. It also helps the malware evade detection by security tools that focus on system-level monitoring.

    Both of these methods rely on exploiting trusted applications, which significantly increases the chances of successful infection. These techniques can be used in combination with others, such as phishing or trojanized software bundles, to maximize the spread of Lumma Stealer to multiple targets.

    Sample analysis

    To demonstrate how the Lumma Stealer installers work and the impact on systems and data security, we’ll analyze the stealer sample we found in the incident at our customer. This sample utilizes the overlay injection technique. Below is a detailed breakdown of the infection chain and the various techniques used to deploy and execute Lumma Stealer.

    Initial execution and self-extracting RAR (SFX)

    The initial payload in this sample is delivered as ProjectorNebraska.exe, which consists of a corrupt legitimate file and the malware in the overlay section. It is executed by the victim. Upon execution, the file extracts and runs a self-extracting RAR (SFX) archive. This archive contains the next stage of the infection: a Nullsoft Scriptable Install System (NSIS) installer. NSIS is a widely used tool for creating Windows installers.

    NSIS installer components

    The NSIS installer drops several components that are critical to the malware’s execution:

    NSIS installer components

    These include AutoIt components and an obfuscated batch script loader named Hose.cmd. The following AutoIt components are dropped:

    • Fragments of a legitimate AutoIt executable: These are pieces of a genuine AutoIt executable that are dropped to the victim’s system, and then reassembled during the infection process.
    • Compiled AutoIt script: The compiled script carries the core functionality of Lumma Stealer, including operations such as credential theft and data exfiltration.

    These components are later reassembled into the final executable payload using the batch script loader that concatenates and executes the various fragments.

    Hose.cmd orchestrates the final steps of the malware’s execution. Below is a breakdown of its key components (after deobfuscation):

    Deobfuscated batch script code

    Process tree after executing the batch script

    The batch script performs the following actions:

    • Security product evasion
      • The script scans for the presence of security software (SecureAnywhere and Quick Heal AntiVirus) using the tasklist If either of them is detected, it delays execution via the ping -n 198 command, which pings localhost 198 times. This trick is used to avoid sandbox detection, as the sandbox typically exits before the script completes the ping task.
      • The script checks for the presence of any of the following: Avast, AVG, McAfee, Bitdefender, Sophos, using the tasklist If one of them is detected, it keeps the executable name for AutoIt as AutoIt3.exe; otherwise, it renames it to Suggests.pif.
    • Environment setup and payload preparation. It sets environment variables for the AutoIt executable and the final payload. It also creates a working directory named 195402 in the Temp directory to store malicious components.
    • Obfuscation and extraction. The script filters and cleans a file named Sitting from the NSIS installer by removing the string OptimumSlipProfessionalsPerspective, and storing the result as Suggests.pif. It then uses the copy /b command to merge Suggests.pif with an additional component from the NSIS installer named Oclc into the AutoIt executable, saving it again as Suggests.pif.
    • Payload assembly. It concatenates multiple files from the NSIS installer: Italy, Holmes, True, etc. to generate the final executable with the name h.a3x, which is an AutoIt script.
    • Execution of Lumma Stealer. Finally, the script runs Suggests.pif, which in turn executes h.a3x, triggering the AutoIt-based execution of Lumma Stealer.

    AutoIt script analysis

    During the analysis, the AutoIt Extractor utility was used to decompile and extract the script from the h.a3x file. The script was heavily obfuscated and required additional deobfuscation to get a clean and analyzable .au3 script. Below is the analysis of the AutoIt loader’s behavior.

    AutoIt script extraction

    Anti-analysis checks

    The script begins by validating the environment to detect analysis tools or sandbox environments. It checks for specific computer names and usernames often associated with testing environments.

    Environment validation

    It then checks for processes from popular antivirus tools such as Avast (avastui.exe), Bitdefender (bdagent.exe), and Kaspersky (avp.exe).

    Anti-AV checks

    If any of these conditions are met, the script halts execution to evade detection.

    Executing loader shellcode

    If the anti-analysis checks are passed, the script dynamically selects 32-bit or 64-bit shellcode based on the system architecture, which is located in the $vinylcigaretteau variable inside the script. To do this, it allocates executable memory and injects the shellcode into it. The shellcode then initializes the execution environment and prepares for the second-stage payload.

    Part of the AutoIt loader responsible for the shellcode execution

    Processing the $dayjoy payload

    After executing the loader shellcode, the script processes the second-stage payload located in the $dayjoy variable. The payload is decrypted using RC4 with a hardcoded key 1246403907690944.

    The encrypted payload

    To decrypt the payload independently, we wrote a custom Python script that you can see in the screenshot below.

    Python script for payload decryption

    The decrypted payload is decompressed using the LZNT1 algorithm.

    Payload decompression

    Final payload execution

    After decryption and decompression, the $dayjoy payload is executed in memory. The script uses DllCallAddress to invoke the payload directly in the allocated memory. This ensures the payload is executed stealthily without being written to disk.

    Final payload execution

    This final payload is the stealer itself. The malware’s comprehensive data theft capabilities target a wide range of sensitive information, including:

    • Cryptocurrency wallet credentials (e.g., Binance, Ethereum) and associated browser extensions (e.g., MetaMask)
    • Two-factor authentication (2FA) data and authenticator extensions
    • Browser-stored credentials and cookies
    • Stored credentials from remote access tools such as AnyDesk
    • Stored credentials from password managers such as KeePass
    • System and application data
    • Financial information such as credit card numbers

    C2 communication

    Once Lumma Stealer is executed, it establishes communication with its command and control (C2) servers to exfiltrate the stolen data. The malware sends the collected information back to the attacker’s infrastructure for further exploitation. This communication is typically performed over HTTP or HTTPS, often disguised as legitimate traffic to avoid detection by network security monitoring tools.

    C2 servers identified

    The following C2 domains used by Lumma Stealer to communicate with the attackers were identified in the analyzed sample:

    These domains are used to receive stolen data from infected systems. Communication with these servers is typically via encrypted HTTP POST requests.

    Conclusions

    As a mass-distributed malicious program, Lumma Stealer employs a complex infection chain that includes a number of anti-analysis and detection evasion techniques, to stealthily infiltrate the victim’s device. Although the initial infection via dubious pirated software and cryptocurrency-related websites and Telegram channels suggests that individuals are the primary targets of these attacks, we saw Lumma in an incident at one of our customers, which illustrates that organizations can also fall victim to this threat. The information stolen by such malware may end up in the hands of more prominent cybercriminals, such as ransomware operators. That’s why it’s important to prevent stealer infections at the early stages. By understanding the infection techniques, security professionals can better defend against this growing threat and develop more effective detection and prevention strategies.

    IoCs

    The following list contains the URLs detected during our research. Note that the attackers change the malicious URLs and Telegram channels almost daily, and the IoCs provided in this section were already inactive at the time of writing. However, they may be useful for retrospective threat detection.

    Malicious fake CAPTCHA pages

    Telegram channels distributing Lumma

    MIL OSI Economics –

  • MIL-OSI Economics: MSCI and Moody’s to Launch Independent Risk Assessments for Private Credit Investments

    Source: Moody’s

    Headline: MSCI and Moody’s to Launch Independent Risk Assessments for Private Credit Investments

    Solution to Promote Transparency and Strengthen Investors’ Private Credit Asset Allocation Strategies

    NEW YORK–(BUSINESS WIRE)– MSCI Inc. (NYSE:MSCI) and Moody’s Corporation (NYSE:MCO) will jointly create a first-of-its-kind solution to provide independent risk assessments for private credit investments at scale.

    As the private credit market continues to evolve and grow, the need for consistent standards and better tools has become essential for investors to assess, compare and communicate the risk of their investments.

    MSCI offers a unique and comprehensive universe of high-quality private capital data, sourced from original documents provided by managers, including data on more than 2,800 private credit funds and 14,000+ individual underlying companies. As part of this joint offering, Moody’s will extend its flagship EDF-X models into MSCI’s private credit solutions. EDF-X delivers risk insights using best-in-class credit models and early warning signals to help investors assess the financial strength of public and private companies globally.

    The combination of Moody’s flagship EDF-X credit risk modeling solutions with MSCI’s universe of private credit investment data will produce proprietary third-party risk assessments for private credit investments available at the underlying company and facility level using transparent metrics.

    “As the private credit market evolves, investors are looking for trusted independent assessments to help benchmark credit risk and inform investments and monitor portfolios,” said Rob Fauber, President and CEO of Moody’s. “Our partnership with MSCI will play a critical role in providing these insights, helping market participants make informed decisions.”

    “The rapid growth of private credit continues to transform the global investment landscape while highlighting the need for increased transparency, consistent standards and independent risk assessment,” said Henry A. Fernandez, Chairman and CEO of MSCI. “We are proud to partner with Moody’s to deliver innovative solutions that can help drive greater clarity and confidence.”

    The solution will be distinct from the services provided by Moody’s Ratings, the credit rating agency, to the issuers in the private credit market.

    About Moody’s Corporation

    In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.

    About MSCI

    MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data, and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

    “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995

    Certain statements contained in this document are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this document are made as of the date hereof, and Moody’s undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Moody’s is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. These factors, risks and uncertainties include, but are not limited to: the impact of general economic conditions (including significant government debt and deficit levels, and inflation and related monetary policy actions by governments in response to inflation) on worldwide credit markets and on economic activity, including on the volume of mergers and acquisitions, and their effects on the volume of debt and other securities issued in domestic and/or global capital markets; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government initiatives and monetary policy to respond to the current economic climate, including instability of financial institutions, credit quality concerns, and other potential impacts of volatility in financial and credit markets; the global impacts of the Russia – Ukraine military conflict and the military conflict in Israel and the surrounding areas on volatility in world financial markets, on general economic conditions and GDP in the U.S. and worldwide, on global relations and on the Company’s own operations and personnel; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, increased utilization of technologies that have the potential to intensify competition and accelerate disruption and disintermediation in the financial services industry, as well as the number of issuances of securities without ratings or securities which are rated or evaluated by non-traditional parties; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy, including those related to tariffs, tax agreements and trade barriers; the impact of MIS’s withdrawal of its credit ratings on countries or entities within countries and of Moody’s no longer conducting commercial operations in countries where political instability warrants such actions; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction or development of competing and/or emerging technologies and products; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations; the potential for increased competition and regulation in the jurisdictions in which we operate, including the EU; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquiries to which Moody’s may be subject from time to time; provisions in U.S. legislation modifying the pleading standards and EU regulations modifying the liability standards applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; uncertainty regarding the future relationship between the U.S. and China; the possible loss of key employees and the impact of the global labor environment; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the timing and effectiveness of our restructuring programs, such as the 2022 – 2023 Geolocation Restructuring Program; currency and foreign exchange volatility; the outcome of any review by tax authorities of Moody’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if Moody’s fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which Moody’s operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions, such as our acquisition of RMS, or other business combinations and the ability of Moody’s to successfully integrate acquired businesses; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of Moody’s annual report on Form 10-K for the year ended December 31, 2024, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it. Forward-looking and other statements in this document may also address our corporate responsibility progress, plans, and goals (including sustainability and environmental matters), and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in the Company’s filings with the Securities and Exchange Commission. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties and other factors that may cause MSCI’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond MSCI’s control and that could materially affect actual results, levels of activity, performance or achievements.

    Other factors that could materially affect MSCI’s actual results, levels of activity, performance or achievements can be found in MSCI’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 9, 2025 and in quarterly reports on Form 10-Q and current reports on Form 8-K filed or furnished with the SEC. If any of these risks or uncertainties materialize, or if MSCI’s underlying assumptions prove to be incorrect, actual results may vary significantly from what MSCI projected. Any forward-looking statement in this press release reflects MSCI’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to MSCI’s operations, results of operations, growth strategy and liquidity. MSCI assumes no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise, except as required by law.

    For Moody’s Investor Relations:
    Shivani Kak
    Moody’s Corporation
    +1 212-553-0298
    Shivani.Kak@moodys.com

    For Moody’s Communications:
    Joe Mielenhausen
    Moody’s Corporation
    +1 212-553-1461
    Joe.Mielenhausen@moodys.com

    For MSCI Investor Relations:
    Jeremy Ulan
    MSCI
    +1 646 778 4184
    jeremy.ulan@msci.com

    Jisoo Suh
    MSCI
    +1 212 804 1598
    jisoo.suh@msci.com

    For MSCI Communications:
    pr@msci.com
    Melanie Blanco
    MSCI
    +1 646-220-4157
    melanie.blanco@msci.com

    Source: MSCI Inc.

    MIL OSI Economics –

  • MIL-OSI USA: U.S. Reps. Garcia, Frost, Ansari, and Dexter Arrive in El Salvador to Pressure Trump Administration To Abide By Supreme Court Order And Facilitate Return of Wrongly Deported Maryland Man, Kilmar Abrego Garcia

    Source: United States House of Representatives – Congressman Robert Garcia California (42nd District)

    San Salvador, El Salvador – Today, U.S. Representatives Robert Garcia, Maxwell Frost, Yassamin Ansari, and Maxine Dexter arrived in El Salvador to pressure the Trump Administration to abide by a Supreme Court order to facilitate the return of Kilmar Abrego Garcia, a Maryland man with protected legal status who was unlawfully deported by the Trump Administration. Mr. Abrego Garcia is currently detained in El Salvador despite having no criminal conviction in the United States, a direct violation of due process protected by the Constitution.  

    The Congressional members are in El Salvador to bring attention to President Trump’s illegal defiance of the binding and unanimous Supreme Court decision in Noem v. Abrego Garcia that demands the Administration facilitate Abrego Garcia’s return and due process in the United States. This visit comes after the Trump Administration admitted that Mr. Abrego Garcia’s detention was an “error” but refused to abide by a federal judge and the Supreme Court’s orders to facilitate Mr. Abrego Garcia’s return home. Members will also advocate for other detainees who are being held without due process. 

    This trip is not being financed by taxpayer dollars and comes after Chairman James Comer refused to approve Garcia and Frost’s request for an official CODEL.

    “While Donald Trump continues to defy the Supreme Court, Kilmar Abrego Garcia is being held illegally in El Salvador after being wrongfully deported,” said Congressman Robert Garcia. “That is why we’re here– to remind the American people that kidnapping immigrants and deporting them without due process is not how we do things in America. We are demanding the Trump Administration abide by the Supreme Court decision and give Kilmar and the other migrants mistakenly sent to El Salvador due process in the United States.”

     “Donald Trump and his Administration are running a government-funded kidnapping program– illegally arresting, jailing, and deporting innocent people with zero due process. Kilmar Abrego Garcia is Trump’s latest victim,” said Congressman Maxwell Frost. “As Members of Congress it is our responsibility to hold the President and Administration accountable for defying the constitution of the United States. Donald Trump and ICE are not above the law. Today it’s Kilmar, but tomorrow it could be anyone else. We cannot and will not let Donald Trump get away with this.” 

    “My parents fled an authoritarian regime in Iran where people were ‘disappeared’ – I refuse to sit back and watch it happen here, too. Kilmar Abrego Garcia’s illegal abduction and President Trump’s complete disregard of due process and a unanimous Supreme Court ruling are deeply disturbing. We should all be appalled by this treatment by the United States government,” said Congresswoman Yassamin Ansari. “I’m in El Salvador to advocate for the Trump Administration to facilitate his safe return home, and make sure Trump’s attack on our Constitution and due process stops now. Trump has already threatened to illegally deport ‘home-growns’ and American citizens. If this can happen to Mr. Abrego Garcia, it can happen to any of us. This is a constitutional crisis. ”

    “What happened to Kilmar Abrego Garcia is not just one family’s nightmare—it is a constitutional crisis that should outrage every single one of us,” said Congresswoman Maxine Dexter. “We will not rest while due process is discarded, and our constitutional rights are ignored. We will be loud in demanding that the Trump Administration abide by the Supreme Court’s decision and uphold the rule of law. Because if this can happen to Mr. Abrego Garcia, it can happen to anyone.”

     ###

    MIL OSI USA News –

  • MIL-OSI: Dragonfly Energy Partners with the National Forest Foundation to Plant Thousands of Trees for Earth Day

    Source: GlobeNewswire (MIL-OSI)

    • Dragonfly Energy’s collaboration with the National Forest Foundation underscores the company’s continued commitment to sustainability and environmental stewardship. The pledge from Dragonfly Energy to plant thousands of trees is part of a bigger environmental plan initiated by the US Forest Service to combat climate change.
    • Dragonfly Energy is committed to helping the National Forest Foundation reach its goal to successfully plant 50 million trees by the end of 2025.

    RENO, Nev., April 21, 2025 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in green energy storage and maker of Battle Born Batteries®, in recognition of Earth Day, is pledging to plant thousands of trees through a collaboration with the National Forest Foundation (NFF), the official non-profit partner of the United States Department of Agriculture (USDA) Forest Service. In support of the company’s commitment to environmental sustainability, Dragonfly Energy aims to exceed last year’s planting of 10,000 trees.

    The National Forest Foundation is leading the charge on natural solutions for climate change having planted more than 33.5 million trees to date since the campaign began in 2018, and over five million alone in 2024. In Dragonfly Energy’s backyard alone, the Sierra Nevada, the NFF planted 24,225 trees in 2024, which included planting in five National Forests. These efforts are helping to restore public lands and ensure that forests can continue to sequester carbon dioxide (CO2), as America’s forests are the most efficient natural systems for pulling CO2 out of the atmosphere.

    “Healthy forests are vital to a greener future, just as eco-friendly battery development and manufacturing are essential to sustainable progress,” said Tyler Bourns, chief marketing officer for Dragonfly Energy. “As we enter our second year of partnership for Earth Day, we remain dedicated to environmental stewardship and the pursuit of a more sustainable planet.”

    Earth Day, celebrated globally on April 22, serves as a reminder of the importance of protecting the planet for future generations. In honor of this world-wide celebration, Dragonfly Energy pledges to plant 10 trees for every battery sold during its annual Earth Day sale taking place April 21 through April 25.

    “We want to thank Dragonfly Energy for its commitment to our reforestation initiatives and dedication to making significant environmental impacts within United States through an annual donation of trees being planted on public lands,” said Abby Schembra, National Forest Foundation Reforestation Team. “As a project-focused nonprofit organization, we value our partners who are helping us to reach our goal to successfully plant 50 million trees by the end of 2025.”

    For more information about Dragonfly Energy, visit DragonflyEnergy.com. For more information about the National Forest Foundation and its Reforestation Program, visit NationalForests.org.

    About National Forest Foundation

    The National Forest Foundation works on behalf of the American public to inspire personal and meaningful connections to our National Forests. By directly engaging Americans and leveraging private and public funding, the NFF leads forest conservation efforts and promotes responsible recreation. Each year the NFF restores fish and wildlife habitat, facilitates common ground, plants trees in areas affected by fires, insects and disease and improves recreational opportunities. The NFF believes our National Forests and all they offer are an American treasure and are vital to the health of our communities. Learn more at nationalforests.org.

    About Dragonfly Energy

    Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

    To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit investors.dragonflyenergy.com.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief, or expectations, including, but not limited to, statements regarding the National Forest Foundation and its Reforestation Program, the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

    These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and in the Company’s subsequent filings with the SEC available at www.sec.gov. If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Relations
    Eric Prouty
    Szymon Serowiecki
    AdvisIRy Partners
    DragonflyIR@advisiry.com

    Media Relations
    Margaret Skillicorn, RAD Strategies Inc.
    Margaret@radstrategiesinc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a18578f5-be14-44bb-8604-a590b68b994e

    Source: Dragonfly Energy Holdings Corp.

    The MIL Network –

  • MIL-OSI Asia-Pac: BharatNet

    Source: Government of India

    BharatNet

    Extending Internet Access, Expanding Rural Progress

    Posted On: 21 APR 2025 2:48PM by PIB Delhi

    • Q: What is the BharatNet project?

    A: BharatNet is an ambitious project of the Government of India aimed at providing broadband connectivity to all Gram Panchayats (GPs) in the country. It is one of the biggest rural telecom projects in the world.

    • Q: What is the objective of the BharatNet project?

    A: The primary objective is to provide unrestricted access to broadband connectivity to all the telecom service providers. This enables access providers like mobile operators, Internet Service Providers (ISPs), Cable TV operators, and content providers to launch various services such as e-health, e-education, and e-governance in rural and remote India. It aims to empower rural India, foster inclusive growth, and bridge the gap between urban and rural communities.

    • Q: How many Gram Panchayats (GPs) are targeted under BharatNet?

    A: The project initially aimed to connect approximately 2.5 lakh Gram Panchayats across the country.

    • Q: What are the different phases of the BharatNet project?

     A: The Telecom Commission approved the implementation of the project in three phases on 30.04.2016:

      • Phase I: Focused on laying optical fibre cables to connect 1 lakh Gram Panchayats by utilising existing infrastructure. This phase was completed in December 2017
      • Phase II(ongoing): Expanded coverage to an additional 1.5 lakh Gram Panchayats using optical fibre, radio, and satellite technologies. This phase incorporated collaborative efforts with state governments and private entities.
      • Phase III(ongoing): Aims at future-proofing the network by integrating 5G technologies, increasing bandwidth capacity, and ensuring robust last-mile connectivity. This phase is ongoing. The Amended BharatNet Program (ABP) approved in August 2023 can be considered part of this evolution.
    • Q: What is the Amended BharatNet Program (ABP)?

     A: Approved in August 2023, the ABP is a design improvement aiming for Optical Fibre (OF) connectivity to 2.64 lakh GPs in ring topology (a network design where connected devices form a circular data channel) and OF connectivity to the remaining non-GP villages on demand. It includes features like IP-MPLS (Internet Protocol Multi-Protocol Label Switching) network with routers at Blocks and GPs, operation and maintenance for 10 years, power backup, and Remote Fibre Monitoring System (RFMS). The cost allocated is Rs. 1,39,579 crores.

    • Q: What other initiatives support digital empowerment in rural India?

     A: Several other initiatives complement BharatNet, including:

      • Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA): To ensure digital literacy in rural households, with over 6.39 crore individuals trained by March 31, 2024.
      • National Broadband Mission (NBM): Launched to fast-track the expansion of digital communications infrastructure. National Broadband Mission 2.0 was launched on January 17, 2025. Key initiatives under NBM include the Centralized Right of Way (RoW) Portal GatiShakti Sanchar.
    • Q: How is BharatNet being funded?

    A: BharatNet is primarily funded through the Digital Bharat Nidhi (DBN), which is a fund that replaced the Universal Service Obligation Fund (USOF). The total funding for BharatNet (Phase-I and Phase-II) approved by the Cabinet is Rs 42,068 crores (exclusive of GST, Octroi, and local taxes). As of 31.12.2023, a total of Rs. 39,825 crores have been disbursed under the BharatNet Project since its inception.

    • Q: Who is executing the BharatNet project?

    A: The project is being executed by a Special Purpose Vehicle (SPV) namely Bharat Broadband Network Limited (BBNL), which was incorporated on 25.02.2012 under the Indian Companies Act 1956. Under the Amended BharatNet Program, BSNL is appointed as the single Project Management Agency (PMA) for Operation & Maintenance of the entire network.

    • Q: What is the current status of BharatNet implementation?

    A:

      • As of 19th March 2025, 2,18,347GPs have been made service ready under the BharatNet project in the country.
      • As of March 25, 2025, the Optical Fiber Cable (OFC) length has increased to 42.13 lakh route km.
      • As of 13.01.2025, 6,92,676 Km of OFC (Optical Fiber Cable) has been laid.
      • 12,21,014 Fibre-To-The-Home (FTTH) connections are commissioned
      • 1,04,574 Wi-Fi hotspots are installed.
    • Q: How is the BharatNet network utilised?

    A: The network is utilised through leasing bandwidth and dark fibre, Wi-Fi to access broadband or internet services in public places, and Fibre to the Home (FTTH). Last Mile Connectivity (LMC) is provided through Wi-Fi in public places or other suitable broadband technologies, including FTTH at Government institutions such as schools, hospitals, post offices, etc.

    • Q: What are the benefits and impact of the BharatNet project?

    A: BharatNet has had a transformative impact on rural India, contributing to socioeconomic development in multiple ways:

      • Digital Inclusion: Connecting remote villages to high-speed internet, enabling access to e-governance, online education, and telemedicine.
      • Economic Opportunities: Enabling participation in digital commerce, access to financial services, and entrepreneurial opportunities.
      • Education and Healthcare: Facilitating digital classrooms and telehealth services.
      • Empowering Local Governance: Enabling Gram Panchayats to implement e-governance projects.
    • Q: What is the role of CSC e-Governance Services India Limited in BharatNet?

    A: CSC (Common Services Centre) e-Governance Services India Limited (CSC-SPV) was assigned to provide the last mile connectivity in GPs through Wi-Fi Access Points and FTTH connections.  As of September 2024, 1,04,574 Wi-Fi Access Points and 11,41 ,825 FTTH connections have been installed in the GPs. CSC-SPV also undertook a pilot project for laying overhead optical fiber from GPs.

    • Q: What is the collaboration between DBN and NABARD?

    A: Digital Bharat Nidhi (DBN) and the National Bank for Agriculture and Rural Development (NABARD) have signed an MoU to drive rural development by providing access to digital services, digital governance, and promoting a digital economy through high-speed broadband connectivity under the BharatNet program. Key areas of collaboration include reference data sharing, digital content sharing, digital services integration, awareness and capacity building, promoting a digital economy, and inclusion of ICT infrastructure.

    • Q: How does BharatNet relate to mobile connectivity in rural areas?

     A: Alongside BharatNet, the government is also focusing on expanding mobile connectivity in rural areas. As of December 2024, around 6,25,853 villages are covered with mobile connectivity, including 6,18,968 villages having 4G mobile coverage. The median mobile broadband speed has increased significantly. These efforts are complementary to BharatNet in bridging the digital divide.

    REFERENCES

    https://pib.gov.in/PressReleasePage.aspx?PRID=2086701#:~:text=the%20government%20of,truly%20digital%20nation

    https://x.com/PIB_India/status/1905232713227067857

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2115831

    https://usof.gov.in/en/ongoing-schemes

    https://bbnl.nic.in/

    https://it.tn.gov.in/en/TACTV/BharatNet

    https://www.data.gov.in/keywords/BharatNet

    https://usof.gov.in/en/bharatnet-project

    https://www.pib.gov.in/PressReleasePage.aspx?PRID=2086701

    https://sansad.in/getFile/loksabhaquestions/annex/1714/AU2874.pdf?source=pqals

    https://pib.gov.in/PressReleasePage.aspx?PRID=2117923#:~:text=Government%20of%20India%20Takes%20Measures,and%20Meaningful%20Connectivity%20for%20all.

    https://pib.gov.in/PressReleseDetailm.aspx?PRID=2077908&reg=3&lang=1

    https://sansad.in/getFile/annex/267/AU2155_28gbez.pdf?source=pqars

    KIndly find the pdf file 

    *****

    Santosh Kumar | Sarla Meena | Chaitanya Mishra

    (Release ID: 2123137) Visitor Counter : 193

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EPFO Adds 16.10 Lakh Net Members during February 2025

    Source: Government of India

    EPFO Adds 16.10 Lakh Net Members during February 2025

    7.39 Lakh New Members Enrolled with EPFO

    Posted On: 21 APR 2025 2:26PM by PIB Delhi

    The Employees’ Provident Fund Organization (EPFO) has released provisional payroll data for February 2025, revealing a net addition of 16.10 lakh members. The year-on-year analysis reveals a growth of 3.99% in net payroll additions compared to February 2024, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.

    Key highlights of the EPFO Payroll Data (February 2025) are as follows:

    New Subscribers:

    EPFO enrolled around 7.39 lakh new subscribers in February 2025. This addition of new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs.

    Age Group 18-25 Leads Payroll Addition:

    A noticeable aspect of the data is the dominance of the 18-25 age group, 4.27 lakh new subscribers added in the 18-25 age group, constituting a significant 57.71% of the total new subscribers added in February 2025. This is in consonance with the earlier trend which indicates that most individuals joining the organized workforce are youth, primarily first-time job seekers.

    Further, the net payroll addition for the age group 18-25 for February 2025 is approximately 6.78 lakh reflecting a growth of 3.01% from the previous year in February 2024.

    Rejoined Members:

    Approximately 13.18 lakh members, who had exited earlier, rejoined EPFO in February 2025. This figure depicts a significant 11.85% year-over-year growth compared to February 2024. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding long-term financial well-being and extending their social security protection.

    Growth in Female Membership:

    Around 2.08 lakhs new female subscribers joined EPFO in February 2025. It depicts year-over-year growth of 1.26% compared to February 2024.

    Further, the net female payroll addition during the month stood at around 3.37 lakh, a significant year over year growth of 9.23% compared to February 2024. The growth in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.

    State-wise Contribution:

    State-wise analysis of payroll data denotes that the top five states/ UTs constitute around 59.75% of net payroll addition, adding a total around 9.62 lakh net payroll during the month. Of all the states, Maharashtra is leading by adding 20.90% of net payroll during the month. The states/UTs of Maharashtra, Tamil Nadu, Karnataka, Gujarat, Haryana, Delhi, Telangana and Uttar Pradesh individually added more than 5% of the total net payroll during the month.

    Industry-wise Trends:

    Month-on-month comparison of industry-wise data displays growth in the net payroll addition working in establishments engaged in the industries viz.

    1. FISH PROCESSIGN AND NON-VEG FOOD PRESERVATION,
    2. SOCIETIES CLUBS OR ASSOCIATIONS,
    3. ESTABLISHMENTS ENGAGED IN CLEANING, SWEEPING SERVICES,
    4. ESTABLISHMENT ENGAGED IN MANUFACTURE, MARKETING SERVICING, USAGE OF COMPUTERS,
    5. ESTABLISHMENTS OF AIRCRAFT OR AIRLINES,

    Of the total net payroll addition, around 41.72% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.).

    The above payroll data is provisional since data generation is a continuous exercise, as updating employee record is a continuous process. The previous data gets updated every month on account of:

    1. ECRs being filed for previous months after generation of payroll report.
    2. ECRs filed earlier being modified after generation of payroll reports.
    3. Date of exit from EPF membership for previous months being updated after generation of payroll report.

    From the month of April 2018, EPFO has been releasing payroll data covering the period September 2017 onwards. In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joined as members, is taken to arrive at net monthly payroll.

    *****

    Himanshu Pathak

    (Release ID: 2123129) Visitor Counter : 112

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Khadi and Village Industries Commission (KVIC) created a new record under the leadership of Prime Minister Shri Narendra Modi.

    Source: Government of India

    Khadi and Village Industries Commission (KVIC) created a new record under the leadership of Prime Minister Shri Narendra Modi.

    For the first time in the history of independent India, the turnover of Khadi and Village Industries surpassed Rs. 1 lakh 70 thousand crore.

    KVIC Chairman Shri Manoj Kumar released the provisional data for the financial year 2024-25.

    In the past 11 years, production increased fourfold with a jump of 347% and sales increased fivefold with a jump of 447%.

    Historical increase of 49.23% in the field of total employment generation in 11 years, KVIC is providing employment to 1.94 crore persons.

    The turnover of Khadi Gramodyog Bhawan New Delhi reached a record figure of Rs. 110.01 crore for the first time.

    Chairman KVIC Shri Manoj Kumar said, ‘Under the leadership of Prime Minister Shri Narendra Modi and the guidance of the Ministry of MSME, the schemes and achievements of KVIC has established a strong foundation stone of ‘Viksit Bharat’

    Posted On: 21 APR 2025 3:35PM by PIB Delhi

    The Khadi and Village Industries sector, which empowers the spirit of self-reliance in the country, has not only touched new heights in the last 11 years under the dynamic leadership of Prime Minister Shri Narendra Modi and the guidance of the Ministry of Micro, Small and Medium Enterprises (MSME), but has also brought new light to hope in the lives of crores of villagers. Khadi, the legacy of Pujya Bapu, is no longer just a fabric, but has become a symbol of the creation of ‘Ek Bharat, Shreshtha Bharat’. Said Shri Manoj Kumar Chairman KVIC while releasing the provisional data of Khadi and Village Industries for the financial year 2024-25 at the office located at Rajghat, New Delhi on Monday. He informed that KVIC has set a new record of production, sales and new employment generation in the financial year 2024-25. In the last 11 years, there has been an increase of 447 percent in sales, 347 percent in production and 49.23 percent in employment generation. As said, in the financial year 2023-24, there was an increase of 399.69% in sales and 314.79% in production in comparison to the year 2013-14, he added.

    Chairman Shri Manoj Kumar further said that this excellent performance of KVIC has made a significant contribution towards realizing the resolution of ‘Viksit Bharat’ by the year 2047 and making India the third economy of the world. He attributed this historic achievement to the inspiration of Pujya Bapu, the guarantee of Prime Minister Shri Narendra Modi, the guidance of the Ministry of MSME and the tireless hard work of crores of artisans working in the remote villages of the Country. Chairman KVIC shared that while the production of Khadi and Village Industry products was Rs. 26109.07 crore in the financial year 2013-14, it increased nearly four times to Rs. 116599.75 crore in the financial year 2024-25 with a jump of 347 percent. While the sales were Rs. 31154.19 crore in the financial year 2013-14, it increased nearly fivefold with an unprecedented growth of 447 percent to reach Rs. 170551.37 crore in the financial year 2024-25, which is the highest sale till date.

      

     

    Speaking to the media, he opined that unprecedented growth has also been observed in the production of Khadi clothes in the last 11 years. While the production of Khadi clothes was Rs. 811.08 crore in the financial year 2013-14, it increased by 366 percent and increased four and a half times to Rs. 3783.36 crore in the financial year 2024-25, which is the best performance till date. There has also been a tremendous jump in the sales of Khadi clothes. While its sale was only Rs. 1081.04 crore in the financial year 2013-14, it increased by about six and a half times to Rs. 7145.61 crore in the financial year 2024-25 with an increase of 561 percent. The promotion of Khadi by Prime Minister Shri Narendra Modi from a larger platform has had a huge impact on the sale of Khadi clothes, he reiterated.

    Speaking on objective of the Khadi and Village Industries Commission he said that major objective of KVIC is to provide maximum employment opportunities in rural areas. In this area too, KVIC has set a record in the last 11 years. While the cumulative employment was 1.30 crore in the financial year 2013-14, it rose to 1.94 crore in 2024-25 with an increase of 49.23 per cent. There has also been an unprecedented increase in the business of Khadi and Village Industries Bhawan, New Delhi. While the business of Bhavan was Rs. 51.02 crore in the financial year 2013-14, it increased by almost 2 times and reached Rs 110.01 crore in the financial year 2024-25 with a jump of 115 percent. Since the launch of the Pradhan Mantri Employment Generation Program (PMEGP) scheme, a total of 1018185 units have been established, for which the Government of India has distributed margin money subsidy of Rs. 27166.07 crore against a loan of Rs. 73348.39 crore. So far 90,04,541 people are getting employment through PMEGP.

    He said that with the aim of providing employment to maximum number of people in rural areas under the Gramodyog Vikas Yojana Scheme, KVIC has more than doubled the budget of Rs 25.65 crore in the financial year 2021-22 by 134 percent to Rs. 60 crore in the financial year 2025-26. So far, 39244 electric pottery wheels, 227049 bee boxes and honey colonies, 2344 automatic and pedal-operated incense stick manufacturing machines, 7735 footwear manufacturing and repairing toolkits, 964 paper plate and dona manufacturing machines, 3494 AC, mobile, sewing, electrician, plumber toolkits, 4555 turnwood, wastewood craft, wooden toy making machines as well as 2367 palm jaggery, oil ghani and tamarind processing machines have been distributed under the Gramodyog Vikas Yojana Scheme. If we talk about the last three financial years, a total of 22284 machines and equipment were distributed in the year 2022-23, 29854 in the financial year 2023-24 and the highest 37218 machines and equipment in the financial year 2024-25. Under Gramodyog Vikas Yojana, KVIC has made a significant contribution in the creation of a self-reliant India by distributing a total of 287752 machines, toolkits and equipment so far.

    Speaking on significant contribution towards women empowerment he further said that in the last 10 years, 7,43,904 trainees have been trained through 18 departmental and 17 non-departmental training centres of KVIC, out of ​​which 57.45 percent i.e. 4,27,394 are women. Apart from this, 80 percent of the 5 lakh Khadi artisans are also women. In the last 11 years, the wages of Khadi artisans has been increased by 275 percent while in the last three years, it has been increased by 100 percent.

    ****

    SK

    (Release ID: 2123154) Visitor Counter : 73

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI: HTX Launches Million USDT Airdrop Event to Reward New and Existing Users

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 21, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange, has announced the launch of its Million USDT Airdrop Event, designed to give back to loyal users and welcome new participants. Running from 09:00 (UTC) on April 18 to 09:00 (UTC) on April 25, the campaign features over 1 million USDT in prizes across HTX’s Spot, Futures, Margin, and Earn services.

    This initiative follows a standout Q1 2025 for HTX, where it was the only top 10 exchange to report positive trading volume growth despite a broader market slowdown. The platform attributes this milestone to the unwavering support of its global community and shows its appreciation by this campaign.

    Full Event Details:

    https://www.htx.com.co/en-us/mars/activity-center?callId=174488561942780

    Benefit 1: Up to 1,500 USDT Welcome Bonus for New Users

    New users can claim up to 125,000,000 $HTX and unlock up to 1,500 USDT in bonuses by completing all Beginner tasks during the campaign.

    Benefit 2: Invite Friends and Earn 9 Million $HTX Invite your friends to sign up, complete KYC, and make a spot or Futures Trade. You’ll earn 9 million $HTX (approximately 15 USDT) per successful referral.

    Benefit 3: Kickstart Your Crypto Journey – 100,000 USDT Up for Grabs

    1. Spot/Margin Rewards: First-time depositors or traders can receive random airdrops worth 5 – 300 USDT. Margin Traderswill get a 90% Margin Interest Voucher valued at 10 USDT.
    2. Futures Onboarding: New futures traders who complete level 1 KYC verification can unlock a 1,200 USDT futures position within 48 hours.
    3. Earn Exclusive: First-time HTX Earn users (Level 2 KYC) enjoy a 7-day 100% APY on Fixed products covering over 220 cryptos.

    Benefit 4: SVIP Users Share 100,000 USDT

    1. New SVIPs: First-time upgrades to Prime 6 (excluding trial levels) get an exclusive package with Spot Cashback Vouchers, Futures Liquidation Compensation, APY Boosters Coupons for Flexible Products, and Margin Interest Vouchers.
    2. Returning SVIPs: Users who return to Prime 6+ can compete in trading volume rankings to win prizes, with the top reward reaching 5,000 USDT.

    Benefit 5: Comeback Rewards – 100,000 USDT for Returning Users

    1. Spot Trading Comeback: If you haven’t traded spot in 30 days, return now to win up to 800 USDT by depositing and trading.
    2. Futures Trading Comeback: Lapsed futures traders can get a 3 – 30 USDT Futures Trial Bonuses for trading ≥ 500 USDT.
    3. Margin Trading Comeback: Returnees with ≥ 1,000 USDT in Margin volume during the event share a 20,000 USDT prize pool.

    Benefit 6: Earn Product Subscribers Can Win Up to 100,000 USDT

    1. USDD Earn Lucky Draw: Subscribe with at least 1 USDD net new to enter a draw. Three winners will receive 100,000 USDT each.
    2. PoS Earn APY Boost: Subscribe ≥ 1,000 USDT to HTX Earn’s designated products (including SOL, TON, DOT, ADA, TRX and more)to earn a 5% APY Booster for USDT Flexible products.

    Benefit 7: Borrow at Unbeatable Rates

    During the event, users can benefit from a 15% interest rate discount on Flexible USDT loans with Crypto Loans, plus an additional discount of up to 5%, resulting in a daily rate as low as 0.0088%.

    HTX’s Million USDT Airdrop Event is more than just a giveaway—it’s a celebration of community, resilience, and long-term growth. With robust offerings for every type of user—whether you’re new to crypto, a returning trader, or a long-time supporter—HTX aims to deliver real value through every feature and reward.

    Looking ahead, HTX remains committed to delivering a secure, user-first trading experience and expanding its ecosystem. In line with its mission to “Achieve financial freedom for 8 billion people on Earth,” HTX continues to innovate and grow alongside its community.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com

    Disclaimer: This press release is provided by the HTX. 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/61479e72-f825-4624-b7ec-9aa4d121ab63

    The MIL Network –

  • MIL-OSI: AMG Announces Investment in Verition Fund Management

    Source: GlobeNewswire (MIL-OSI)

    • AMG to acquire a minority equity interest in Verition, a global multi-strategy investment firm with $12.6 billion in AUM
    • Verition’s management will retain a substantial majority of the firm’s equity and continue to lead Verition as an independent firm, in line with AMG’s partnership approach
    • Partnership further diversifies AMG’s business and increases its exposure to alternative strategies

    WEST PALM BEACH, Fla., April 21, 2025 (GLOBE NEWSWIRE) — AMG, a strategic partner to leading independent investment management firms globally, today announced that it has entered into a definitive agreement to acquire a minority equity interest in Verition Fund Management LLC (“Verition”), a global multi-strategy investment firm.

    Under the terms of the transaction, Verition’s management will retain a substantial majority of the firm’s equity, continue to lead the organization, and maintain full control of day-to-day operations. As part of the agreement, Verition’s Co-Founders, Nicholas Maounis and Josh Goldstein, have entered into long-term commitments with the firm. Verition’s management will also make a significant additional investment in the firm’s fund, reinforcing its deep alignment with the business and its investors.

    Founded in 2008, Verition has developed a globally recognized multi-strategy platform that allocates capital across a diversified range of uncorrelated strategies. The firm has delivered consistent returns with limited volatility, earning the confidence of institutional investors worldwide. Verition’s platform comprises approximately 150 portfolio management teams, supported by a culture of collaboration, innovation, and operational excellence. As of April 1, 2025, the firm manages approximately $12.6 billion in assets.

    “Verition is a premier multi-manager with an outstanding track record across nearly two decades,” said Jay C. Horgen, President and Chief Executive Officer of AMG. “With its focus on uncorrelated strategies, disciplined approach, strong risk framework, and proven ability to consistently deliver excellent results for clients, Verition is positioned as a leader in the growing multi-strategy space. Verition exhibits what we look for in a partner: a high-quality independent firm operating in an area of secular growth, with a high-performing team and excellent long-term prospects. I am delighted to welcome Nick, Josh, and their partners to our Affiliate group.”

    “We’re excited to welcome AMG as a partner,” said Nicholas Maounis, Co-Founder and Chief Executive Officer of Verition. “In selecting an institutional partner, Josh and I were drawn to AMG’s track record, long-term orientation, and unique approach that preserves our independence and investment philosophy. This partnership supports the continued expansion of our platform, broadens our global reach, and strengthens our ability to execute on long-term strategic priorities — all with the goal of delivering lasting value to our investors.”

    The terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2025.

    About AMG

    AMG (NYSE: AMG) is a strategic partner to leading independent investment management firms globally. AMG’s strategy is to generate long-term value by investing in high-quality independent partner-owned firms, through a proven partnership approach, and allocating resources across AMG’s unique opportunity set to the areas of highest growth and return. Through its distinctive approach, AMG magnifies its Affiliates’ existing advantages and actively supports their independence and ownership culture. As of December 31, 2024, AMG’s aggregate assets under management were approximately $708 billion across a diverse range of private markets, liquid alternative, and differentiated long-only investment strategies. For more information, please visit the Company’s website at www.amg.com.

    About Verition Fund Management

    Verition Fund Management LLC is an investment management firm founded in 2008 by Nicholas Maounis and Josh Goldstein with approximately $12.6 billion in assets under management as of April 1, 2025. Verition manages a multi-strategy, multi-manager hedge fund focused on global investment strategies including Credit, Fixed Income & Macro, Convertible & Volatility Arbitrage, Event-Driven, Equity Long/Short & Capital Markets Trading, and Quantitative Strategies. The fund seeks to construct a diversified portfolio with low correlation to traditional and alternative asset classes and consistently attractive risk-adjusted returns. The Firm employs approximately 750 people and has offices in New York, NY, Greenwich, CT, Norwalk, CT, London, UK, Singapore, Republic of Singapore, Hong Kong (SAR), China, and Dubai, UAE.

    Certain matters discussed in this press release issued by Affiliated Managers Group, Inc. (“AMG” or the “Company”) may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in AMG’s most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. AMG undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This release does not constitute an offer of any products, investment vehicles, or services of any AMG Affiliate. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.

    AMG Media & Investor Relations:
    Patricia Figueroa
    (617) 747-3300
    ir@amg.com
    pr@amg.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes Enzo Biochem, Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Enzo Biochem, Inc. (OTCQX: ENZB), life sciences company, has qualified to trade on the OTCQX® Best Market. Enzo Biochem, Inc. previously traded on the New York Stock Exchange.

    Enzo Biochem, Inc. begins trading today on OTCQX under the symbol “ENZB.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    “Enzo Biochem, Inc. is pleased to begin trading on the OTCQX, which provides an excellent platform for investors to engage with the company as we continue to provide exceptional life science products and services,” said Kara Cannon, CEO of Enzo Biochem, Inc.

    About Enzo Biochem, Inc.
    Enzo Biochem, Inc. has operated as a life sciences company for over 45 years. The primary business of Enzo today is conducted through its Life Sciences division, which focuses on labeling and detection technologies from DNA to whole cell analysis, including a comprehensive portfolio of thousands of high-quality products, including antibodies, genomic probes, assays, biochemicals, and proteins. The Company’s proprietary products and technologies play central roles in translational research and drug development areas, including cell biology, genomics, assays, immunohistochemistry, and small molecule chemistry. The Company monetizes its technology primarily via sales through our global distribution network and licensing. Enzo Life Sciences is operated through the Company’s wholly-owned subsidiary Enzo Life Sciences, Inc. and its wholly-owned foreign subsidiaries.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Capital City Bank Group, Inc. Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., April 21, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $16.9 million, or $0.99 per diluted share, for the first quarter of 2025 compared to $13.1 million, or $0.77 per diluted share, for the fourth quarter of 2024, and $12.6 million, or $0.74 per diluted share, for the first quarter of 2024.

    QUARTER HIGHLIGHTS (1stQuarter 2025 versus 4thQuarter 2024)

    Income Statement

    • Tax-equivalent net interest income totaled $41.6 million compared to $41.2 million for the prior quarter
      • Net interest margin increased five basis points to 4.22% (earning asset yield up one basis point and total deposit cost down four basis points to 82 basis points)
    • Improved credit quality metrics – net loan charge-offs were nine basis points (annualized) of average loans – allowance coverage ratio increased to 1.12% at March 31, 2025
    • Noninterest income increased $1.1 million, or 6.1%, and reflected a $0.7 million increase in mortgage banking revenues and a $0.5 million increase in wealth management fees
    • Noninterest expense decreased $3.1 million, or 7.4%, primarily due to a $3.1 million decrease in other expense which included a higher level of gains from the sale of banking facilities, namely the sale of our operations center building in the first quarter

    Balance Sheet

    • Loan balances decreased $11.5 million, or 0.4% (average), and increased $9.2 million, or 0.4% (end of period)
    • Deposit balances increased by $65.1 million, or 1.8% (average), and increased $111.9 million, or 3.0% (end of period), largely due to the seasonal increase in our public fund balances
    • Tangible book value per diluted share (non-GAAP financial measure) increased $0.94, or 4.0%

    “I am pleased with our first quarter performance, which reflects strong core fundamentals and strategic execution driven by a 2.6% increase in revenues, solid growth in deposit balances, and improvement in credit quality metrics,” said William G. Smith, Jr., Capital City Bank Group Chairman, President, and CEO. “First quarter earnings also included a $0.17 per diluted share gain from the sale of our operations center building. Our strong balance sheet and revenue diversification provides us with the flexibility to navigate ongoing uncertainty in market and economic conditions.”

    Discussion of Operating Results

    Net Interest Income/Net Interest Margin

    Tax-equivalent net interest income for the first quarter of 2025 totaled $41.6 million, compared to $41.2 million for the fourth quarter of 2024, and $38.4 million for the first quarter of 2024. Compared to both prior periods, the increase was driven by higher investment securities interest due to new investment purchases at higher yields, in addition to lower deposit interest expense, partially offset by lower loan interest due to lower average loan balances and interest rates. Two less calendar days also contributed to the decline in loan interest compared to the fourth quarter of 2024. Higher overnight funds interest also contributed to the increase over the first quarter of 2024 reflective of a higher level of average earning assets.

    Our net interest margin for the first quarter of 2025 was 4.22%, an increase of five basis points over the fourth quarter of 2024 and an increase of 21 basis points over the first quarter of 2024. For the month of March 2025, our net interest margin was 4.22%. The increase in net interest margin over the fourth quarter of 2024 reflected a higher yield in the investment portfolio driven by new purchases during the quarter and a lower cost of deposits, partially offset by a lower overnight funds rate. The increase over the first quarter of 2024 reflected favorable investment repricing, a lower cost of deposits, and a higher overnight funds rate, partially offset by lower average loan balances for both prior periods.   For the first quarter of 2025, our cost of funds was 84 basis points, a decrease of four basis points from the fourth quarter of 2024 and the first quarter of 2024. Our cost of deposits (including noninterest bearing accounts) was 82 basis points, 86 basis points, and 85 basis points, respectively, for the same periods.

    Provision for Credit Losses

    We recorded a provision expense for credit losses of $0.8 million for the first quarter of 2025 compared to $0.7 million for the fourth quarter of 2024 and $0.9 million for the first quarter of 2024. For the first quarter of 2025, we recorded a provision expense of $1.1 million for loans held for investment (“HFI”) and a provision benefit of $0.3 million for unfunded loan commitments, which was comparable to the fourth quarter of 2024. We discuss the various factors that impacted our provision expense in detail below under the heading Allowance for Credit Losses.  

    Noninterest Income and Noninterest Expense

    Noninterest income for the first quarter of 2025 totaled $19.9 million compared to $18.8 million for the fourth quarter of 2024 and $18.1 million for the first quarter of 2024. The $1.1 million, or 6.1%, increase over the fourth quarter of 2024 was primarily due to a $0.7 million increase in mortgage banking revenues and a $0.5 million increase in wealth management fees, partially offset by a $0.1 million decrease in deposits fees.   The increase in mortgage revenues was driven by an increase in rate locks and a higher gain on sale margin. The increase in wealth management fees was attributable to a $0.5 million increase in insurance commission revenue.   Compared to the first quarter of 2024, the $1.8 million, or 10.0%, increase was driven by a $1.1 million increase in wealth management fees and a $0.9 million increase in mortgage banking revenues, partially offset by a $0.2 million decrease in deposit fees.   The increase in wealth management fees reflected higher retail brokerage fees of $0.6 million, insurance commission revenue of $0.3 million, and trust fees of $0.2 million. The increase in mortgage revenues was driven by an increase in loan fundings and a higher gain on sale margin.     

    Noninterest expense for the first quarter of 2025 totaled $38.7 million compared to $41.8 million for the fourth quarter of 2024 and $40.2 million for the first quarter of 2024.   The $3.1 million, or 7.4%, decrease from the fourth quarter of 2024, reflected a $3.1 million decrease in other expense, a $0.1 million decrease in occupancy expense, and a $0.1 million increase in compensation expense. The decrease in other expense was driven by a $3.5 million decrease in other real estate expense which reflected higher gains from the sale of banking facilities, primarily the sale of our operations center building in the first quarter of 2025, partially offset by a $0.5 million increase in charitable contribution expense. The slight decrease in occupancy expense was due to lower maintenance/repairs for buildings and furniture/fixtures. The slight net decrease in compensation expense reflected a $0.2 million increase in salary expense offset by a $0.1 million decrease in associate benefit expense.

    Income Taxes

    We realized income tax expense of $5.1 million (effective rate of 23.3%) for the first quarter of 2025 compared to $4.2 million (effective rate of 24.3%) for the fourth quarter of 2024 and $3.5 million (effective rate of 23.0%) for the first quarter of 2024. Compared to the fourth quarter of 2024, the decrease in our effective tax rate was primarily due to a discrete item in the first quarter of 2025 related to an excess tax benefit for stock compensation.   Absent discrete items, we expect our annual effective tax rate to approximate 24% for 2025.

    Discussion of Financial Condition

    Earning Assets

    Average earning assets totaled $3.994 billion for the first quarter of 2025, an increase of $72.0 million, or 1.8%, over the fourth quarter of 2024, and an increase of $144.3 million, or 3.7%, over the first quarter of 2024. The increase over both prior periods was driven by higher deposit balances (see below – Deposits).   Compared to the fourth quarter of 2024, the change in the earning asset mix reflected a $67.1 million increase in investment securities and a $22.7 million increase in overnight funds sold partially offset by a $11.5 million decrease in loans HFI and a $6.3 million decrease in loans held for sale (“HFS”).   Compared to the first quarter of 2024, the change in the earning asset mix reflected a $180.5 million increase in overnight funds and a $29.1 million increase in investment securities that was partially offset by a $62.7 million decrease in loans HFI and a $2.6 million decrease in HFS.

    Average loans HFI decreased $11.5 million, or 0.4%, from the fourth quarter of 2024 and decreased $62.7 million, or 2.3%, from the first quarter of 2024. Compared to the fourth quarter of 2024, the decrease was primarily attributable to declines in construction loans of $8.6 million, commercial loans of $5.7 million, and consumer loans of $2.1 million, partially offset by a $6.6 million increase in home equity loans.   Compared to the first quarter of 2024, the decline was driven by decreases in consumer loans (primarily indirect auto) of $58.8 million, commercial loans of $32.9 million, and commercial real estate mortgage loans of $23.1 million, partially offset by increases in residential real estate loans of $28.9 million, construction loans of $11.5 million, and home equity loans of $10.4 million.

    Loans HFI at March 31, 2025 increased $9.2 million, or 0.3%, over December 31, 2024 and decreased $70.4 million, or 2.6%, from March 31, 2024. Compared to December 31, 2024, the increase was primarily attributable to increases in commercial real estate mortgage loans of $27.8 million and residential real estate loans of $12.1 million, consumer loans (primarily indirect auto) of $6.7 million, and home equity loans of $5.9 million, partially offset by decreases in construction loans of $27.7 million, commercial loans of $4.8 million, and other loans of $10.8 million.   Compared to the first quarter of 2024, the decline was driven by decreases in consumer loans (primarily indirect auto) of $48.0 million, commercial loans of $33.9 million, commercial real estate mortgage loans of $16.7 million, and construction loans of $10.4 million, partially offset by increases in residential real estate loans of $27.8 million and home equity loans of $11.4 million.

    Allowance for Credit Losses

    At March 31, 2025, the allowance for credit losses for loans HFI totaled $29.7 million compared to $29.3 million at December 31, 2024 and $29.3 million at March 31, 2024. Activity within the allowance is provided on Page 9. The increase in the allowance over December 31, 2024 reflected higher loan balances and higher loan loss rates, partially offset by a lower level of net loan charge-offs.   The increase in the allowance over March 31, 2024 was primarily due to higher loss rates. Net loan charge-offs were nine basis points of average loans for the first quarter of 2025 versus 25 basis points for the fourth quarter of 2024 and 22 basis points for the first quarter of 2024. At March 31, 2025, the allowance represented 1.12% of loans HFI compared to 1.10% at December 31, 2024, and 1.07% at March 31, 2024.

    Credit Quality

    Nonperforming assets (nonaccrual loans and other real estate) totaled $4.4 million at March 31, 2025 compared to $6.7 million at December 31, 2024 and $6.8 million at March 31, 2024. At March 31, 2025, nonperforming assets as a percent of total assets was 0.10%, compared to 0.15% at December 31, 2024 and 0.16% at March 31, 2024. Nonaccrual loans totaled $4.3 million at March 31, 2025, a $2.0 million decrease from December 31, 2024 and a $2.5 million decrease from March 31, 2024. Further, classified loans totaled $19.2 million at March 31, 2025, a $0.7 million decrease from December 31, 2024 and a $3.1 million decrease from March 31, 2024.

    Deposits

    Average total deposits were $3.665 billion for the first quarter of 2025, an increase of $65.1 million, or 1.8%, over the fourth quarter of 2024 and an increase of $89.0 million, or 2.5%, over the first quarter of 2024.   Compared to the fourth quarter of 2024, the increase was primarily attributable to higher NOW account balances largely due to the seasonal increase in our public fund balances.   The increase over the first quarter of 2024 reflected growth in NOW, money market and certificate of deposit account balances which was mainly due to a combination of balances migrating from savings and noninterest bearing accounts, in addition to receiving new deposits from existing and new clients via various deposit strategies.     

    At March 31, 2025, total deposits were $3.784 billion, an increase of $111.9 million, or 3.0%, over December 31, 2024, and an increase of $129.1 million, or 3.5%, over March 31, 2024.   The increase over December 31, 2024 was due to higher balances in all deposit categories. The increase over March 31, 2024 was primarily due to higher NOW account balances, largely due to the seasonal increase in public funds and increases in money market and certificates of deposit, partially offset by lower savings account balances. Total public funds balances were $648.0 million at March 31, 2025, $660.9 million at December 31, 2024, and $615.0 million at March 31, 2024.

    Liquidity

    The Bank maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of $320.9 million in the first quarter of 2025 compared to $298.3 million in the fourth quarter of 2024 and $140.5 million in the first quarter of 2024. Compared to both prior periods, the increase reflected higher average deposits (primarily seasonal public funds) and lower average loans.
        
    At March 31, 2025, we had the ability to generate approximately $1.540 billion (excludes overnight funds position of $446 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.  

    We also view our investment portfolio as a liquidity source as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits, and/or to sell selected securities in our portfolio.  Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities.  At March 31, 2025, the weighted-average maturity and duration of our portfolio were 2.64 years and 2.10 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of $15.4 million.    

    Capital

    Shareowners’ equity was $512.6 million at March 31, 2025 compared to $495.3 million at December 31, 2024 and $448.3 million at March 31, 2024. For the first three months of 2025, shareowners’ equity was positively impacted by net income attributable to shareowners of $16.9 million, a net $3.6 million decrease in the accumulated other comprehensive loss, the issuance of stock of $2.4 million, and stock compensation accretion of $0.4 million. The net favorable change in accumulated other comprehensive loss reflected a $4.1 million decrease in the investment securities loss that was partially offset by a $0.5 million decrease in the fair value of the interest rate swap related to subordinated debt. Shareowners’ equity was reduced by a common stock dividend of $4.1 million ($0.24 per share) and net adjustments totaling $1.9 million related to transactions under our stock compensation plans.

    At March 31, 2025, our total risk-based capital ratio was 19.20% compared to 18.64% at December 31, 2024 and 16.84% at March 31, 2024. Our common equity tier 1 capital ratio was 16.08%, 15.54%, and 13.82%, respectively, on these dates. Our leverage ratio was 11.17%, 11.05%, and 10.45%, respectively, on these dates. At March 31, 2025, all our regulatory capital ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 9.61% at March 31, 2025 compared to 9.51% and 8.53% at December 31, 2024 and March 31, 2024, respectively. If our unrealized held-to-maturity securities losses of $12.1 million (after-tax) were recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 9.33%.

    About Capital City Bank Group, Inc.

    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.5 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 105 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit www.ccbg.com.

    FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; technological changes; the cost and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; government intervention in the U.S. financial system; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the SEC, which are available at the SEC’s internet site (http://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ, except as may be required by law.

    For Information Contact:

    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402. 8450

    USE OF NON-GAAP FINANCIAL MEASURES
    Unaudited

    We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because it allows investors to more easily compare our capital adequacy to other companies in the industry.

    The GAAP to non-GAAP reconciliations are provided below.

    (Dollars in Thousands, except per share data) Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
    Shareowners’ Equity (GAAP)   $ 512,575   $ 495,317   $ 476,499   $ 460,999   $ 448,314  
    Less: Goodwill and Other Intangibles (GAAP)     92,733     92,773     92,813     92,853     92,893  
    Tangible Shareowners’ Equity (non-GAAP) A   419,842     402,544     383,686     368,146     355,421  
    Total Assets (GAAP)     4,461,233     4,324,932     4,225,316     4,225,695     4,259,922  
    Less: Goodwill and Other Intangibles (GAAP)     92,733     92,773     92,813     92,853     92,893  
    Tangible Assets (non-GAAP) B $ 4,368,500   $ 4,232,159   $ 4,132,503   $ 4,132,842   $ 4,167,029  
    Tangible Common Equity Ratio (non-GAAP) A/B   9.61%     9.51%     9.28%     8.91%     8.53%  
    Actual Diluted Shares Outstanding (GAAP) C   17,072,330     17,018,122     16,980,686     16,970,228     16,947,204  
    Tangible Book Value per Diluted Share (non-GAAP) A/C $ 24.59   $ 23.65   $ 22.60   $ 21.69   $ 20.97  
     
    CAPITAL CITY BANK GROUP, INC.
    EARNINGS HIGHLIGHTS
    Unaudited
                   
        Three Months Ended  
    (Dollars in thousands, except per share data)   Mar 31, 2025   Dec 31, 2024   Mar 31, 2024  
    EARNINGS              
    Net Income Attributable to Common Shareowners $ 16,858 $ 13,090 $ 12,557 $
    Diluted Net Income Per Share $ 0.99 $ 0.77 $ 0.74 $
    PERFORMANCE              
    Return on Average Assets (annualized)   1.58 % 1.22 % 1.21 %
    Return on Average Equity (annualized)   13.32   10.60   11.07  
    Net Interest Margin   4.22   4.17   4.01  
    Noninterest Income as % of Operating Revenue   32.39   31.34   32.06  
    Efficiency Ratio   62.93 % 69.74 % 71.06 %
    CAPITAL ADEQUACY              
    Tier 1 Capital   18.01 % 17.46 % 15.67 %
    Total Capital   19.20   18.64   16.84  
    Leverage   11.17   11.05   10.45  
    Common Equity Tier 1   16.08   15.54   13.82  
    Tangible Common Equity (1)   9.61   9.51   8.53  
    Equity to Assets   11.49 % 11.45 % 10.52 %
    ASSET QUALITY              
    Allowance as % of Non-Performing Loans   692.10 % 464.14 % 431.46 %
    Allowance as a % of Loans HFI   1.12   1.10   1.07  
    Net Charge-Offs as % of Average Loans HFI   0.09   0.25   0.22  
    Nonperforming Assets as % of Loans HFI and OREO   0.17   0.25   0.25  
    Nonperforming Assets as % of Total Assets   0.10 % 0.15 % 0.16 %
    STOCK PERFORMANCE              
    High $ 38.27 $ 40.86 $ 31.34 $
    Low   33.00   33.00   26.59  
    Close $ 35.96 $ 36.65 $ 27.70 $
    Average Daily Trading Volume   24,486   27,484   31,023  
                   
    (1) Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 5.
                   
    CAPITAL CITY BANK GROUP, INC.
    CONSOLIDATED STATEMENT OF FINANCIAL CONDITION
    Unaudited
                         
      2025     2024  
    (Dollars in thousands) First Quarter   Fourth Quarter   Third Quarter   Second Quarter   First Quarter
    ASSETS                    
    Cash and Due From Banks $ 78,521   $ 70,543   $ 83,431   $ 75,304   $ 73,642  
    Funds Sold and Interest Bearing Deposits   446,042     321,311     261,779     272,675     231,047  
    Total Cash and Cash Equivalents   524,563     391,854     345,210     347,979     304,689  
                         
    Investment Securities Available for Sale   461,224     403,345     336,187     310,941     327,338  
    Investment Securities Held to Maturity   517,176     567,155     561,480     582,984     603,386  
    Other Equity Securities   2,315     2,399     6,976     2,537     3,445  
    Total Investment Securities   980,715     972,899     904,643     896,462     934,169  
                         
    Loans Held for Sale (“HFS”):   21,441     28,672     31,251     24,022     24,705  
                         
    Loans Held for Investment (“HFI”):                    
    Commercial, Financial, & Agricultural   184,393     189,208     194,625     204,990     218,298  
    Real Estate – Construction   192,282     219,994     218,899     200,754     202,692  
    Real Estate – Commercial   806,942     779,095     819,955     823,122     823,690  
    Real Estate – Residential   1,040,594     1,028,498     1,023,485     1,012,541     1,012,791  
    Real Estate – Home Equity   225,987     220,064     210,988     211,126     214,617  
    Consumer   206,191     199,479     213,305     234,212     254,168  
    Other Loans   3,227     14,006     461     2,286     3,789  
    Overdrafts   1,154     1,206     1,378     1,192     1,127  
    Total Loans Held for Investment   2,660,770     2,651,550     2,683,096     2,690,223     2,731,172  
    Allowance for Credit Losses   (29,734 )   (29,251 )   (29,836 )   (29,219 )   (29,329 )
    Loans Held for Investment, Net   2,631,036     2,622,299     2,653,260     2,661,004     2,701,843  
                         
    Premises and Equipment, Net   80,043     81,952     81,876     81,414     81,452  
    Goodwill and Other Intangibles   92,733     92,773     92,813     92,853     92,893  
    Other Real Estate Owned   132     367     650     650     1  
    Other Assets   130,570     134,116     115,613     121,311     120,170  
    Total Other Assets   303,478     309,208     290,952     296,228     294,516  
    Total Assets $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695   $ 4,259,922  
    LIABILITIES                    
    Deposits:                    
    Noninterest Bearing Deposits $ 1,363,739   $ 1,306,254   $ 1,330,715   $ 1,343,606   $ 1,361,939  
    NOW Accounts   1,292,654     1,285,281     1,174,585     1,177,180     1,212,452  
    Money Market Accounts   445,999     404,396     401,272     413,594     398,308  
    Savings Accounts   511,265     506,766     507,604     514,560     530,782  
    Certificates of Deposit   170,233     169,280     164,901     159,624     151,320  
    Total Deposits   3,783,890     3,671,977     3,579,077     3,608,564     3,654,801  
                         
    Repurchase Agreements   22,799     26,240     29,339     22,463     23,477  
    Other Short-Term Borrowings   14,401     2,064     7,929     3,307     8,409  
    Subordinated Notes Payable   52,887     52,887     52,887     52,887     52,887  
    Other Long-Term Borrowings   794     794     794     1,009     265  
    Other Liabilities   73,887     75,653     71,974     69,987     65,181  
    Total Liabilities   3,948,658     3,829,615     3,742,000     3,758,217     3,805,020  
                         
    Temporary Equity   –     –     6,817     6,479     6,588  
    SHAREOWNERS’ EQUITY                    
    Common Stock   171     170     169     169     169  
    Additional Paid-In Capital   38,576     37,684     36,070     35,547     34,861  
    Retained Earnings   476,715     463,949     454,342     445,959     435,364  
    Accumulated Other Comprehensive Loss, Net of Tax   (2,887 )   (6,486 )   (14,082 )   (20,676 )   (22,080 )
    Total Shareowners’ Equity   512,575     495,317     476,499     460,999     448,314  
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695   $ 4,259,922  
    OTHER BALANCE SHEET DATA                    
    Earning Assets $ 4,108,969   $ 3,974,431   $ 3,880,769   $ 3,883,382   $ 3,921,093  
    Interest Bearing Liabilities   2,511,032     2,447,708     2,339,311     2,344,624     2,377,900  
    Book Value Per Diluted Share $ 30.02   $ 29.11   $ 28.06   $ 27.17   $ 26.45  
    Tangible Book Value Per Diluted Share(1)   24.59     23.65     22.60     21.69     20.97  
    Actual Basic Shares Outstanding   17,055     16,975     16,944     16,942     16,929  
    Actual Diluted Shares Outstanding   17,072     17,018     16,981     16,970     16,947  
     
    (1) Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 5.
     
    CAPITAL CITY BANK GROUP, INC.
    CONSOLIDATED STATEMENT OF OPERATIONS
    Unaudited                    
                         
        2025   2024
    (Dollars in thousands, except per share data)   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   First Quarter
    INTEREST INCOME                    
    Loans, including Fees $ 40,478 $ 41,453   $ 41,659 $ 41,138 $ 40,683
    Investment Securities   5,808   4,694     4,155   4,004   4,244
    Federal Funds Sold and Interest Bearing Deposits   3,496   3,596     3,514   3,624   1,893
    Total Interest Income   49,782   49,743     49,328   48,766   46,820
    INTEREST EXPENSE                    
    Deposits   7,383   7,766     8,223   8,579   7,594
    Repurchase Agreements   164   199     221   217   201
    Other Short-Term Borrowings   117   83     52   68   39
    Subordinated Notes Payable   560   581     610   630   628
    Other Long-Term Borrowings   11   11     11   3   3
    Total Interest Expense   8,235   8,640     9,117   9,497   8,465
    Net Interest Income   41,547   41,103     40,211   39,269   38,355
    Provision for Credit Losses   768   701     1,206   1,204   920
    Net Interest Income after Provision for Credit Losses   40,779   40,402     39,005   38,065   37,435
    NONINTEREST INCOME                    
    Deposit Fees   5,061   5,207     5,512   5,377   5,250
    Bank Card Fees   3,514   3,697     3,624   3,766   3,620
    Wealth Management Fees   5,763   5,222     4,770   4,439   4,682
    Mortgage Banking Revenues   3,820   3,118     3,966   4,381   2,878
    Other   1,749   1,516     1,641   1,643   1,667
    Total Noninterest Income   19,907   18,760     19,513   19,606   18,097
    NONINTEREST EXPENSE                    
    Compensation   26,248   26,108     25,800   24,406   24,407
    Occupancy, Net   6,793   6,893     7,098   6,997   6,994
    Other   5,660   8,781     10,023   9,038   8,770
    Total Noninterest Expense   38,701   41,782     42,921   40,441   40,171
    OPERATING PROFIT   21,985   17,380     15,597   17,230   15,361
    Income Tax Expense   5,127   4,219     2,980   3,189   3,536
    Net Income   16,858   13,161     12,617   14,041   11,825
    Pre-Tax (Income) Loss Attributable to Noncontrolling Interest   –   (71 )   501   109   732
    NET INCOME ATTRIBUTABLE TO
    COMMON SHAREOWNERS    		 $ 16,858 $ 13,090   $ 13,118 $ 14,150 $ 12,557
    PER COMMON SHARE                    
    Basic Net Income $ 0.99 $ 0.77   $ 0.77 $ 0.84 $ 0.74
    Diluted Net Income   0.99   0.77     0.77   0.83   0.74
    Cash Dividend $ 0.24 $ 0.23   $ 0.23 $ 0.21 $ 0.21
    AVERAGE SHARES                    
    Basic   17,027   16,946     16,943   16,931   16,951
    Diluted   17,044   16,990     16,979   16,960   16,969
     
    CAPITAL CITY BANK GROUP, INC.
    ALLOWANCE FOR CREDIT LOSSES (“ACL”)
    AND CREDIT QUALITY
    Unaudited                    
                         
        2025     2024  
    (Dollars in thousands, except per share data)   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   First Quarter
    ACL – HELD FOR INVESTMENT LOANS                    
    Balance at Beginning of Period $ 29,251   $ 29,836   $ 29,219   $ 29,329   $ 29,941  
    Transfer from Other (Assets) Liabilities   –     –     –     –     (50 )
    Provision for Credit Losses   1,083     1,085     1,879     1,129     932  
    Net Charge-Offs (Recoveries)   600     1,670     1,262     1,239     1,494  
    Balance at End of Period $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,329  
    As a % of Loans HFI   1.12 %   1.10 %   1.11 %   1.09 %   1.07 %
    As a % of Nonperforming Loans   692.10 %   464.14 %   452.64 %   529.79 %   431.46 %
    ACL – UNFUNDED COMMITMENTS                    
    Balance at Beginning of Period   2,155   $ 2,522   $ 3,139   $ 3,121   $ 3,191  
    Provision for Credit Losses   (323 )   (367 )   (617 )   18     (70 )
    Balance at End of Period(1)   1,832     2,155     2,522     3,139     3,121  
    ACL – DEBT SECURITIES                    
    Provision for Credit Losses $ 8   $ (17 ) $ (56 ) $ 57   $ 58  
    CHARGE-OFFS                    
    Commercial, Financial and Agricultural $ 168   $ 499   $ 331   $ 400   $ 282  
    Real Estate – Construction   –     47     –     –     –  
    Real Estate – Commercial   –     –     3     –     –  
    Real Estate – Residential   8     44     –     –     17  
    Real Estate – Home Equity   –     33     23     –     76  
    Consumer   865     1,307     1,315     1,061     1,550  
    Overdrafts   570     574     611     571     638  
    Total Charge-Offs $ 1,611   $ 2,504   $ 2,283   $ 2,032   $ 2,563  
    RECOVERIES                    
    Commercial, Financial and Agricultural $ 75   $ 103   $ 176   $ 59   $ 41  
    Real Estate – Construction   –     3     –     –     –  
    Real Estate – Commercial   3     33     5     19     204  
    Real Estate – Residential   119     28     88     23     37  
    Real Estate – Home Equity   9     17     59     37     24  
    Consumer   481     352     405     313     410  
    Overdrafts   324     298     288     342     353  
    Total Recoveries $ 1,011   $ 834   $ 1,021   $ 793   $ 1,069  
    NET CHARGE-OFFS (RECOVERIES) $ 600   $ 1,670   $ 1,262   $ 1,239   $ 1,494  
    Net Charge-Offs as a % of Average Loans HFI(2)   0.09 %   0.25 %   0.19 %   0.18 %   0.22 %
    CREDIT QUALITY                    
    Nonaccruing Loans $ 4,296   $ 6,302   $ 6,592   $ 5,515   $ 6,798  
    Other Real Estate Owned   132     367     650     650     1  
    Total Nonperforming Assets (“NPAs”) $ 4,428   $ 6,669   $ 7,242   $ 6,165   $ 6,799  
                         
    Past Due Loans 30-89 Days $ 3,735   $ 4,311   $ 9,388   $ 5,672   $ 5,392  
    Classified Loans   19,194     19,896     25,501     25,566     22,305  
                         
    Nonperforming Loans as a % of Loans HFI   0.16 %   0.24 %   0.25 %   0.21 %   0.25 %
    NPAs as a % of Loans HFI and Other Real Estate   0.17 %   0.25 %   0.27 %   0.23 %   0.25 %
    NPAs as a % of Total Assets   0.10 %   0.15 %   0.17 %   0.15 %   0.16 %
                         
    (1)Recorded in other liabilities
    (2)Annualized
                         
    CAPITAL CITY BANK GROUP, INC.
    AVERAGE BALANCE AND INTEREST RATES
    Unaudited
                                                                           
        First Quarter 2025     Fourth Quarter 2024     Third Quarter 2024     Second Quarter 2024     First Quarter 2024  
    (Dollars in thousands)   Average
    Balance    		   Interest   Average
    Rate    		     Average
    Balance    		   Interest   Average
    Rate    		     Average
    Balance    		   Interest   Average
    Rate    		     Average
    Balance    		   Interest   Average
    Rate    		     Average
    Balance    		   Interest   Average
    Rate    		  
    ASSETS:                                                                      
    Loans Held for Sale $ 24,726   $ 490   8.04 % $ 31,047   $ 976   7.89 % $ 24,570   $ 720   7.49 % $ 26,281     517   5.26 % $ 27,314   $ 563   5.99 %
    Loans Held for Investment(1)   2,665,910     40,029   6.09     2,677,396     40,521   6.07     2,693,533     40,985   6.09     2,726,748     40,683   6.03     2,728,629     40,196   5.95  
                                                                           
    Investment Securities                                                                      
    Taxable Investment Securities   981,485     5,802   2.38     914,353     4,688   2.04     907,610     4,148   1.82     918,989     3,998   1.74     952,328     4,238   1.78  
    Tax-Exempt Investment Securities(1)   845     9   4.32     849     9   4.31     846     10   4.33     843     9   4.36     856     10   4.34  
                                                                           
    Total Investment Securities   982,330     5,811   2.38     915,202     4,697   2.04     908,456     4,158   1.82     919,832     4,007   1.74     953,184     4,248   1.78  
                                                                           
    Federal Funds Sold and Interest Bearing Deposits   320,948     3,496   4.42     298,255     3,596   4.80     256,855     3,514   5.44     262,419     3,624   5.56     140,488     1,893   5.42  
                                                                           
    Total Earning Assets   3,993,914   $ 49,826   5.06 %   3,921,900   $ 49,790   5.05 %   3,883,414   $ 49,377   5.06 %   3,935,280   $ 48,831   4.99 %   3,849,615   $ 46,900   4.90 %
                                                                           
    Cash and Due From Banks   73,467               73,992               70,994               74,803               75,763            
    Allowance for Credit Losses   (30,008 )             (30,107 )             (29,905 )             (29,564 )             (30,030 )          
    Other Assets   297,660               293,884               291,359               291,669               295,275            
                                                                           
    Total Assets $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188             $ 4,190,623            
                                                                           
    LIABILITIES:                                                                      
    Noninterest Bearing Deposits $ 1,317,425             $ 1,323,556             $ 1,332,305             $ 1,346,546             $ 1,344,188            
    NOW Accounts   1,249,955   $ 3,854   1.25 %   1,182,073   $ 3,826   1.29 %   1,145,544   $ 4,087   1.42 %   1,207,643   $ 4,425   1.47 %   1,201,032   $ 4,497   1.51 %
    Money Market Accounts   420,059     2,187   2.11     422,615     2,526   2.38     418,625     2,694   2.56     407,387     2,752   2.72     353,591     1,985   2.26  
    Savings Accounts   507,676     176   0.14     504,859     179   0.14     512,098     180   0.14     519,374     176   0.14     539,374     188   0.14  
    Time Deposits   170,367     1,166   2.78     167,321     1,235   2.94     163,462     1,262   3.07     160,078     1,226   3.08     138,328     924   2.69  
    Total Interest Bearing Deposits   2,348,057     7,383   1.28     2,276,868     7,766   1.36     2,239,729     8,223   1.46     2,294,482     8,579   1.50     2,232,325     7,594   1.37  
    Total Deposits   3,665,482     7,383   0.82     3,600,424     7,766   0.86     3,572,034     8,223   0.92     3,641,028     8,579   0.95     3,576,513     7,594   0.85  
    Repurchase Agreements   29,821     164   2.23     28,018     199   2.82     27,126     221   3.24     26,999     217   3.24     25,725     201   3.14  
    Other Short-Term Borrowings   7,437     117   6.39     6,510     83   5.06     2,673     52   7.63     6,592     68   4.16     3,758     39   4.16  
    Subordinated Notes Payable   52,887     560   4.23     52,887     581   4.30     52,887     610   4.52     52,887     630   4.71     52,887     628   4.70  
    Other Long-Term Borrowings   794     11   5.68     794     11   5.57     795     11   5.55     258     3   4.31     281     3   4.80  
    Total Interest Bearing Liabilities   2,438,996   $ 8,235   1.37 %   2,365,077   $ 8,640   1.45 %   2,323,210   $ 9,117   1.56 %   2,381,218   $ 9,497   1.60 %   2,314,976   $ 8,465   1.47 %
                                                                           
    Other Liabilities   65,211               73,130               73,767               72,634               68,295            
                                                                           
    Total Liabilities   3,821,632               3,761,763               3,729,282               3,800,398               3,727,459            
    Temporary Equity   –               6,763               6,443               6,493               7,150            
                                                                           
    SHAREOWNERS’ EQUITY:   513,401               491,143               480,137               465,297               456,014            
                                                                           
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188             $ 4,190,623            
                                                                           
    Interest Rate Spread     $ 41,591   3.69 %     $ 41,150   3.59 %     $ 40,260   3.49 %     $ 39,334   3.38 %     $ 38,435   3.43 %
                                                                           
    Interest Income and Rate Earned(1)       49,826   5.06         49,790   5.05         49,377   5.06         48,831   4.99         46,900   4.90  
    Interest Expense and Rate Paid(2)       8,235   0.84         8,640   0.88         9,117   0.93         9,497   0.97         8,465   0.88  
                                                                           
    Net Interest Margin     $ 41,591   4.22 %     $ 41,150   4.17 %     $ 40,260   4.12 %     $ 39,334   4.02 %     $ 38,435   4.01 %
                                                                           
    (1)Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.
    (2)Rate calculated based on average earning assets.

    The MIL Network –

  • MIL-OSI: CECO Environmental to Release First Quarter Earnings and Host Conference Call on April 29

    Source: GlobeNewswire (MIL-OSI)

    ADDISON, Texas, April 21, 2025 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced that it will report its first quarter of 2025 financial results on April 29, 2025, premarket. The Company will also host its earnings call starting at 8:30 a.m. Eastern Time (7:30 a.m. CT). The Company’s financial results and presentation will be posted on its website at www.cecoenviro.com.

    The details for the webcast are:

    When: Tuesday, April 29 at 8:30 a.m. Eastern Time

    Where: https://edge.media-server.com/mmc/p/tvr2idgu

    How: Live over the internet – Simply log on to the web at the address above

    Register to receive the dial-in info and a unique pin:
    https://register-conf.media-server.com/register/BIf7f94f174d4c44c393db50b529db08e3

    A replay of the conference call will be available on the Company’s website shortly after the live webcast has concluded.

    ABOUT CECO ENVIRONMENTAL
    CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets globally through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications in power generation, petrochemical processing, refining, midstream gas transport and treatment, electric vehicle and battery production, metals and mineral processing, polysilicon production, battery recycling, beverage can production, and produced and oily water/wastewater treatment along with a wide range of other industrial applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
            
    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors
    214-872-2710
    Investor.Relations@OneCECO.com

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  • MIL-OSI: HBT Financial, Inc. Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter Highlights

    • Net income of $19.1 million, or $0.60 per diluted share; return on average assets (“ROAA”) of 1.54%; return on average stockholders’ equity (“ROAE”) of 13.95%; and return on average tangible common equity (“ROATCE”)(1) of 16.20%
    • Adjusted net income(1) of $19.3 million; or $0.61 per diluted share; adjusted ROAA(1) of 1.55%; adjusted ROAE(1) of 14.08%; and adjusted ROATCE(1) of 16.36%
    • Asset quality remained exceptional with nonperforming assets to total assets of 0.11% and net charge-offs to average loans of 0.05%, on an annualized basis
    • Net interest margin increased 16 basis points to 4.12% and net interest margin (tax-equivalent basis)(1)increased 15 basis point to 4.16%

    BLOOMINGTON, Ill., April 21, 2025 (GLOBE NEWSWIRE) — HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $19.1 million, or $0.60 diluted earnings per share, for the first quarter of 2025. This compares to net income of $20.3 million, or $0.64 diluted earnings per share, for the fourth quarter of 2024, and net income of $15.3 million, or $0.48 diluted earnings per share, for the first quarter of 2024.

    J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “We are off to a great start in 2025 with strong first quarter results. Despite the economic outlook recently becoming more uncertain, leading to interest rate volatility and stock market declines, we still believe that 2025 will be a solid year for HBT. Our credit discipline, strong profitability and solid balance sheet give us confidence that we are prepared for a variety of economic environments.

    We continued to report solid profitability with adjusted net income(1) of $19.3 million, or $0.61 per diluted share, an adjusted ROAA(1) of 1.55% and an adjusted ROATCE(1) of 16.36%. Our net interest margin on a tax-equivalent basis(1) increased by 15 basis points, with 5 basis points of that increase related to higher nonaccrual interest recoveries and loan fees, as average loan balances were higher, loans and securities continued to reprice higher, and deposits repriced lower. Our strong profitability coupled with an improvement in our accumulated other comprehensive income due to lower interest rates, resulted in a $0.63 increase in our tangible book value per share(1) to $15.43. Tangible book value per share increased by 4.3% for the quarter and 17.0% over the last year.

    Our balance sheet remains strong with all capital ratios increasing during the quarter and asset quality improving with nonperforming assets to total assets declining to only 0.11%. Loans at quarter-end were down only slightly while average loans for the quarter were up 2.2%. Deposits were up 1.5% at quarter-end and average deposits for the quarter were up 1.1%. Deposit growth was aided by moving most of our repurchase agreements into interest-bearing demand deposits. Our capital levels and operational structure support attractive acquisition opportunities should the right opportunity arise and markets stabilize.”
    ____________________________________
    (1)   See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    Adjusted Net Income

    In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, gains (losses) on closed branch premises, realized gains (losses) on sales of securities, mortgage servicing rights fair value adjustments, and the tax effect of these pre-tax adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of $19.3 million, or $0.61 adjusted diluted earnings per share, for the first quarter of 2025. This compares to adjusted net income of $19.5 million, or $0.62 adjusted diluted earnings per share, for the fourth quarter of 2024, and adjusted net income of $18.1 million, or $0.57 adjusted diluted earnings per share, for the first quarter of 2024 (see “Reconciliation of Non-GAAP Financial Measures” tables below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures).

    Net Interest Income and Net Interest Margin

    Net interest income for the first quarter of 2025 was $48.7 million, an increase of 2.8% from $47.4 million for the fourth quarter of 2024. The increase was primarily attributable to higher average loan balances, a decrease in deposit costs, and higher yields on loans and debt securities. Additionally, a $0.6 million increase in nonaccrual interest recoveries and loan fees contributed to the increase in net interest income.

    Relative to the first quarter of 2024, net interest income increased 4.3% from $46.7 million. The increase was primarily attributable to higher average loan balances, a decrease in deposit costs, and higher yields on debt securities. Also contributing was a $0.7 million increase in nonaccrual interest recoveries and loan fees.

    Net interest margin for the first quarter of 2025 was 4.12%, compared to 3.96% for the fourth quarter of 2024, and net interest margin (tax-equivalent basis)(1) for the first quarter of 2025 was 4.16%, compared to 4.01% for the fourth quarter of 2024. The increase was primarily attributable to higher yields on interest-earning assets, which increased 9 basis points to 5.34%, and lower funding costs, which decreased 7 basis points to 1.32%. Additionally, an increase in the contribution of nonaccrual interest recoveries and loan fees accounted for 5 basis points of the increase in net interest margin.

    Relative to the first quarter of 2024, net interest margin increased 18 basis points from 3.94% and net interest margin (tax-equivalent basis)(1) increased 17 basis points from 3.99%. These increases were primarily attributable to higher yields on interest-earning assets, a decrease in funding costs, and an increase in nonaccrual interest recoveries and loan fees. Additionally, an increase in the contribution of nonaccrual interest recoveries and loan fees accounted for 6 basis points of the increase in net interest margin.
    ____________________________________
    (1)   See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    Noninterest Income

    Noninterest income for the first quarter of 2025 was $9.3 million, a 20.0% decrease from $11.6 million for the fourth quarter of 2024. The decrease was primarily attributable to changes in the mortgage servicing rights (“MSR”) fair value adjustment, with a $0.3 million negative MSR fair value adjustment included in the first quarter 2025 results compared to a $1.3 million positive MSR fair value adjustment included in the fourth quarter 2024 results. Further contributing to the decrease was a $0.3 million decrease in wealth management fees, primarily driven by a seasonal decrease in farm management income, a $0.3 million decrease in income on bank owned life insurance, primarily due to the absence of a $0.2 million gain on life insurance proceeds included in the fourth quarter 2024 results, and a $0.2 million decrease in card income. Partially offsetting these decreases was the absence of a $0.3 million realized loss on sale of debt securities included in the fourth quarter 2024 results.

    Relative to the first quarter of 2024, noninterest income increased 65.4% from $5.6 million. The increase was primarily attributable to the absence of $3.4 million in realized losses on the sale of debt securities included in the first quarter 2024 results.

    Noninterest Expense

    Noninterest expense for the first quarter of 2025 was $31.9 million, a 3.3% increase from $30.9 million for the fourth quarter of 2024. The increase was primarily attributable to a $1.3 million increase in salaries expense, primarily driven by seasonal variations in vacation accruals and annual merit increases which took effect in early March, and a $0.6 million increase in employee benefits expense, primarily attributable to higher medical benefit costs. Partially offsetting these increases were a $0.3 million decrease in other noninterest expense and a $0.3 million decrease in data processing expense.

    Relative to the first quarter of 2024, noninterest expense increased 2.1% from $31.3 million. The increase was primarily attributable to a $0.5 million increase in employee benefits expense, primarily driven by increased medical benefit costs, and a $0.4 million increase in salaries expense. Partially offsetting these increases was a $0.2 million decrease in data processing expense.

    Income Taxes

    During the first quarter of 2025 our effective tax rate decreased to 25.2% when compared to 26.0% during the fourth quarter of 2024. This decrease was primarily related to a $0.2 million tax benefit from stock-based compensation that vested during the quarter. Additionally, during the second quarter of 2025, we expect to recognize an additional $0.3 million of tax expense related to the reversal of a stranded tax effect included in accumulated other comprehensive income in connection with the maturity of a derivative designated as a cash flow hedge.

    Loan Portfolio

    Total loans outstanding, before allowance for credit losses, were $3.46 billion at March 31, 2025, compared with $3.47 billion at December 31, 2024, and $3.35 billion at March 31, 2024. Total loans as of March 31, 2025 were nearly unchanged when compared to December 31, 2024 with a $23.2 million increase in grain elevator lines of credit in the commercial and industrial segment, due to seasonally higher line utilization, partially offset by a $12.0 million reduction on two lines of credit that funded shortly before and paid off after December 31, 2024, as noted in the previous quarter’s earnings release. Larger payoffs in the one-to-four family residential, multi-family, and commercial real estate – non-owner occupied segments were partially offset by draws on existing loans in the construction and development segment and new originations in the municipal, consumer, and other segment. Additionally, average loan balances increased $73.4 million, or 2.2%, from the fourth quarter of 2024 to the first quarter of 2025.

    Deposits

    Total deposits were $4.38 billion at March 31, 2025, compared with $4.32 billion at December 31, 2024, and $4.36 billion at March 31, 2024. The $66.3 million increase from December 31, 2024 was primarily attributable to higher balances maintained in existing retail accounts. Additionally, the vast majority of repurchase agreement account balances at December 31, 2024 were transitioned to reciprocal interest-bearing demand deposit accounts during the first quarter of 2025.

    Asset Quality

    Nonperforming assets totaled $5.6 million, or 0.11% of total assets, at March 31, 2025, compared with $8.0 million, or 0.16% of total assets, at December 31, 2024, and $9.9 million, or 0.20% of total assets, at March 31, 2024. Additionally, of the $5.1 million of nonperforming loans held as of March 31, 2025, $1.4 million is either wholly or partially guaranteed by the U.S. government. The $2.5 million decrease in nonperforming assets from December 31, 2024 was primarily attributable to the pay-off of a $1.6 million nonaccrual commercial real estate – non-owner occupied credit.

    The Company recorded a provision for credit losses of $0.6 million for the first quarter of 2025. The provision for credit losses primarily reflects a $0.8 million increase in required reserves resulting from changes in qualitative factors; a $0.1 million increase in required reserves driven by changes within the portfolio; and a $0.3 million decrease in specific reserves.

    The Company had net charge-offs of $0.4 million, or 0.05% of average loans on an annualized basis, for the first quarter of 2025, compared to net charge-offs of $0.7 million, or 0.08% of average loans on an annualized basis, for the fourth quarter of 2024, and net recoveries of $0.2 million, or 0.02% of average loans on an annualized basis, for the first quarter of 2024.

    The Company’s allowance for credit losses was 1.22% of total loans and 825% of nonperforming loans at March 31, 2025, compared with 1.21% of total loans and 549% of nonperforming loans at December 31, 2024. In addition, the allowance for credit losses on unfunded lending-related commitments totaled $3.2 million as of March 31, 2025, compared with $3.1 million as of December 31, 2024.

    Capital

    As of March 31, 2025, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table:

        March 31, 2025   For Capital
    Adequacy Purposes
    With Capital
    Conservation Buffer
             
    Total capital to risk-weighted assets   16.85 %   10.50 %
    Tier 1 capital to risk-weighted assets   14.77     8.50  
    Common equity tier 1 capital ratio   13.48     7.00  
    Tier 1 leverage ratio   11.64     4.00  
                 

    The ratio of tangible common equity to tangible assets(1) increased to 9.73% as of March 31, 2025, from 9.42% as of December 31, 2024, and tangible book value per share(1) increased by $0.63 to $15.43 as of March 31, 2025, when compared to December 31, 2024.

    During the first quarter of 2025, the Company did not repurchase shares of its common stock under its stock repurchase program. The Company’s Board of Directors has authorized the repurchase of up to $15.0 million of HBT Financial common stock under its stock repurchase program, which is in effect until January 1, 2026. As of March 31, 2025, the Company had $15.0 million remaining under the stock repurchase program.
    ____________________________________
    (1)   See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    About HBT Financial, Inc.

    HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches. As of March 31, 2025, HBT Financial had total assets of $5.1 billion, total loans of $3.5 billion, and total deposits of $4.4 billion.

    Non-GAAP Financial Measures

    Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include adjusted net income, adjusted earnings per share, adjusted ROAA, pre-provision net revenue, pre-provision net revenue less charge-offs (recoveries), adjusted pre-provision net revenue, adjusted pre-provision net revenue less charge-offs (recoveries), net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), adjusted efficiency ratio (tax-equivalent basis), the ratio of tangible common equity to tangible assets, tangible book value per share, adjusted ROAE, ROATCE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables.

    Forward-Looking Statements

    Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

    Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the threat or implementation of, or changes to, existing policies and executive orders including tariffs, immigration policy, regulatory or other governmental agencies, foreign policy and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new and revised accounting policies and practices, as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the bank failures in 2023; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) changes in interest rates and prepayment rates of the Company’s assets; (viii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (ix) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (x) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated; (xi) the loss of key executives and employees, talent shortages and employee turnover; (xii) changes in consumer spending; (xiii) unexpected outcomes or costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiv) the economic impact on the Company and its customers of climate change, natural disasters and of exceptional weather occurrences such as tornadoes, floods and blizzards; (xv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xvi) credit risks and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio (including commercial real estate loans) and large loans to certain borrowers; (xvii) the overall health of the local and national real estate market; (xviii) the ability to maintain an adequate level of allowance for credit losses on loans; (xix) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xx) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xxi) the level of nonperforming assets on our balance sheet; (xxii) interruptions involving our information technology and communications systems or third-party servicers; (xxiii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission.

    CONTACT:
    Peter Chapman
    HBTIR@hbtbank.com
    (309) 664-4556

         
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
         
        As of or for the Three Months Ended
    (dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Interest and dividend income   $ 63,138     $ 62,798     $ 61,961  
    Interest expense     14,430       15,397       15,273  
    Net interest income     48,708       47,401       46,688  
    Provision for credit losses     576       725       527  
    Net interest income after provision for credit losses     48,132       46,676       46,161  
    Noninterest income     9,306       11,630       5,626  
    Noninterest expense     31,935       30,908       31,268  
    Income before income tax expense     25,503       27,398       20,519  
    Income tax expense     6,428       7,126       5,261  
    Net income   $ 19,075     $ 20,272     $ 15,258  
                 
    Earnings per share – diluted   $ 0.60     $ 0.64     $ 0.48  
                 
    Adjusted net income (1)   $ 19,253     $ 19,546     $ 18,073  
    Adjusted earnings per share – diluted (1)     0.61       0.62       0.57  
                 
    Book value per share   $ 17.86     $ 17.26     $ 15.71  
    Tangible book value per share (1)     15.43       14.80       13.19  
                 
    Shares of common stock outstanding     31,631,431       31,559,366       31,612,888  
    Weighted average shares of common stock outstanding, including all dilutive potential shares     31,711,671       31,702,864       31,803,187  
                 
    SUMMARY RATIOS            
    Net interest margin *     4.12 %     3.96 %     3.94 %
    Net interest margin (tax-equivalent basis) * (1)(2)     4.16       4.01       3.99  
                 
    Efficiency ratio     53.85 %     51.16 %     58.41 %
    Efficiency ratio (tax-equivalent basis) (1)(2)     53.35       50.68       57.78  
                 
    Loan to deposit ratio     78.95 %     80.27 %     76.73 %
                 
    Return on average assets *     1.54 %     1.61 %     1.23 %
    Return on average stockholders’ equity *     13.95       14.89       12.42  
    Return on average tangible common equity * (1)     16.20       17.40       14.83  
                 
    Adjusted return on average assets * (1)     1.55 %     1.56 %     1.45 %
    Adjusted return on average stockholders’ equity * (1)     14.08       14.36       14.72  
    Adjusted return on average tangible common equity * (1)     16.36       16.77       17.57  
                 
    CAPITAL            
    Total capital to risk-weighted assets     16.85 %     16.51 %     15.79 %
    Tier 1 capital to risk-weighted assets     14.77       14.50       13.77  
    Common equity tier 1 capital ratio     13.48       13.21       12.44  
    Tier 1 leverage ratio     11.64       11.51       10.65  
    Total stockholders’ equity to total assets     11.10       10.82       9.85  
    Tangible common equity to tangible assets (1)     9.73       9.42       8.40  
                 
    ASSET QUALITY            
    Net charge-offs (recoveries) to average loans *     0.05 %     0.08 %     (0.02) %
    Allowance for credit losses to loans, before allowance for credit losses     1.22       1.21       1.22  
    Nonperforming loans to loans, before allowance for credit losses     0.15       0.22       0.29  
    Nonperforming assets to total assets     0.11       0.16       0.20  

    ____________________________________

    *   Annualized measure.

    (1)   See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
    (2)   On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.  

       
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
    Consolidated Statements of Income
       
      Three Months Ended
    (dollars in thousands, except per share data) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    INTEREST AND DIVIDEND INCOME          
    Loans, including fees:          
    Taxable $ 53,369     $ 52,587     $ 51,926  
    Federally tax exempt   1,168       1,199       1,094  
    Debt securities:          
    Taxable   6,936       6,829       6,204  
    Federally tax exempt   469       482       597  
    Interest-bearing deposits in bank   1,065       1,520       1,952  
    Other interest and dividend income   131       181       188  
    Total interest and dividend income   63,138       62,798       61,961  
    INTEREST EXPENSE          
    Deposits   12,939       13,672       13,593  
    Securities sold under agreements to repurchase   22       179       152  
    Borrowings   109       115       125  
    Subordinated notes   470       470       470  
    Junior subordinated debentures issued to capital trusts   890       961       933  
    Total interest expense   14,430       15,397       15,273  
    Net interest income   48,708       47,401       46,688  
    PROVISION FOR CREDIT LOSSES   576       725       527  
    Net interest income after provision for credit losses   48,132       46,676       46,161  
    NONINTEREST INCOME          
    Card income   2,548       2,797       2,616  
    Wealth management fees   2,841       3,138       2,547  
    Service charges on deposit accounts   1,944       2,080       1,869  
    Mortgage servicing   990       1,158       1,055  
    Mortgage servicing rights fair value adjustment   (308 )     1,331       80  
    Gains on sale of mortgage loans   252       409       298  
    Realized gains (losses) on sales of securities   —       (315 )     (3,382 )
    Unrealized gains (losses) on equity securities   8       (83 )     (16 )
    Gains (losses) on foreclosed assets   13       7       87  
    Gains (losses) on other assets   54       2       (635 )
    Income on bank owned life insurance   164       415       164  
    Other noninterest income   800       691       943  
    Total noninterest income   9,306       11,630       5,626  
    NONINTEREST EXPENSE          
    Salaries   17,053       15,784       16,657  
    Employee benefits   3,285       2,649       2,805  
    Occupancy of bank premises   2,625       2,773       2,582  
    Furniture and equipment   445       460       550  
    Data processing   2,717       2,998       2,925  
    Marketing and customer relations   1,144       948       996  
    Amortization of intangible assets   695       709       710  
    FDIC insurance   562       557       560  
    Loan collection and servicing   383       653       452  
    Foreclosed assets   5       31       49  
    Other noninterest expense   3,021       3,346       2,982  
    Total noninterest expense   31,935       30,908       31,268  
    INCOME BEFORE INCOME TAX EXPENSE   25,503       27,398       20,519  
    INCOME TAX EXPENSE   6,428       7,126       5,261  
    NET INCOME $ 19,075     $ 20,272     $ 15,258  
               
    EARNINGS PER SHARE – BASIC $ 0.60     $ 0.64     $ 0.48  
    EARNINGS PER SHARE – DILUTED $ 0.60     $ 0.64     $ 0.48  
    WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING   31,584,989       31,559,366       31,662,954  
                           
               
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
    Consolidated Balance Sheets
               
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    ASSETS          
    Cash and due from banks $ 25,005     $ 29,552     $ 19,989  
    Interest-bearing deposits with banks   186,586       108,140       240,223  
    Cash and cash equivalents   211,591       137,692       260,212  
               
    Interest-bearing time deposits with banks   —       —       515  
    Debt securities available-for-sale, at fair value   706,135       698,049       669,020  
    Debt securities held-to-maturity   490,398       499,858       517,472  
    Equity securities with readily determinable fair value   3,323       3,315       3,324  
    Equity securities with no readily determinable fair value   2,629       2,629       2,622  
    Restricted stock, at cost   5,086       5,086       5,155  
    Loans held for sale   2,721       1,586       3,479  
               
    Loans, before allowance for credit losses   3,461,778       3,466,146       3,345,962  
    Allowance for credit losses   (42,111 )     (42,044 )     (40,815 )
    Loans, net of allowance for credit losses   3,419,667       3,424,102       3,305,147  
               
    Bank owned life insurance   24,153       23,989       24,069  
    Bank premises and equipment, net   67,272       66,758       64,755  
    Bank premises held for sale   190       317       317  
    Foreclosed assets   460       367       277  
    Goodwill   59,820       59,820       59,820  
    Intangible assets, net   17,148       17,843       19,972  
    Mortgage servicing rights, at fair value   18,519       18,827       19,081  
    Investments in unconsolidated subsidiaries   1,614       1,614       1,614  
    Accrued interest receivable   22,735       24,770       23,117  
    Other assets   38,731       46,280       60,542  
    Total assets $ 5,092,192     $ 5,032,902     $ 5,040,510  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Liabilities          
    Deposits:          
    Noninterest-bearing $ 1,065,874     $ 1,046,405     $ 1,047,074  
    Interest-bearing   3,318,716       3,271,849       3,313,500  
    Total deposits   4,384,590       4,318,254       4,360,574  
               
    Securities sold under agreements to repurchase   2,698       28,969       31,864  
    Federal Home Loan Bank advances   7,209       13,231       12,725  
    Subordinated notes   39,573       39,553       39,494  
    Junior subordinated debentures issued to capital trusts   52,864       52,849       52,804  
    Other liabilities   40,201       35,441       46,368  
    Total liabilities   4,527,135       4,488,297       4,543,829  
               
    Stockholders’ Equity          
    Common stock   329       328       328  
    Surplus   297,024       297,297       296,054  
    Retained earnings   329,169       316,764       278,353  
    Accumulated other comprehensive income (loss)   (38,446 )     (46,765 )     (56,048 )
    Treasury stock at cost   (23,019 )     (23,019 )     (22,006 )
    Total stockholders’ equity   565,057       544,605       496,681  
    Total liabilities and stockholders’ equity $ 5,092,192     $ 5,032,902     $ 5,040,510  
    SHARES OF COMMON STOCK OUTSTANDING   31,631,431       31,559,366       31,612,888  
                           
               
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
               
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    LOANS          
    Commercial and industrial $ 441,261   $ 428,389   $ 402,206
    Commercial real estate – owner occupied   321,990     322,316     294,967
    Commercial real estate – non-owner occupied   891,022     899,565     890,251
    Construction and land development   376,046     374,657     345,991
    Multi-family   424,096     431,524     421,573
    One-to-four family residential   455,376     463,968     485,948
    Agricultural and farmland   292,240     293,375     287,205
    Municipal, consumer, and other   259,747     252,352     217,821
    Total loans $ 3,461,778   $ 3,466,146   $ 3,345,962
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    DEPOSITS          
    Noninterest-bearing deposits $ 1,065,874   $ 1,046,405   $ 1,047,074
    Interest-bearing deposits:          
    Interest-bearing demand   1,143,677     1,099,061     1,139,172
    Money market   812,146     820,825     802,685
    Savings   575,558     566,533     602,739
    Time   787,335     785,430     713,142
    Brokered   —     —     55,762
    Total interest-bearing deposits   3,318,716     3,271,849     3,313,500
    Total deposits $ 4,384,590   $ 4,318,254   $ 4,360,574
                     
       
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
       
      Three Months Ended
      March 31, 2025   December 31, 2024   March 31, 2024
    (dollars in thousands) Average
    Balance    		   Interest   Yield/Cost *   Average
    Balance    		   Interest   Yield/Cost *   Average
    Balance    		   Interest   Yield/Cost *
                                       
    ASSETS                                  
    Loans $ 3,460,906     $ 54,537   6.39 %   $ 3,387,541     $ 53,786   6.32 %   $ 3,371,219     $ 53,020   6.33 %
    Debt securities   1,204,424       7,405   2.49       1,208,404       7,311   2.41       1,213,947       6,801   2.25  
    Deposits with banks   120,014       1,065   3.60       149,691       1,520   4.04       167,297       1,952   4.69  
    Other   12,677       131   4.19       12,698       181   5.68       12,986       188   5.82  
    Total interest-earning assets   4,798,021     $ 63,138   5.34 %     4,758,334     $ 62,798   5.25 %     4,765,449     $ 61,961   5.23 %
    Allowance for credit losses   (42,061 )             (40,942 )             (40,238 )        
    Noninterest-earning assets   276,853               277,074               278,253          
    Total assets $ 5,032,813             $ 4,994,466             $ 5,003,464          
                                       
    LIABILITIES AND STOCKHOLDERS’ EQUITY                                  
    Liabilities                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand $ 1,120,608     $ 1,453   0.53 %   $ 1,088,082     $ 1,351   0.49 %   $ 1,127,684     $ 1,311   0.47 %
    Money market   807,728       4,397   2.21       787,768       4,444   2.24       812,684       4,797   2.37  
    Savings   569,494       370   0.26       562,833       389   0.27       611,224       443   0.29  
    Time   784,099       6,719   3.48       796,494       7,439   3.72       664,498       5,925   3.59  
    Brokered   —       —   —       3,261       49   5.96       82,150       1,117   5.47  
    Total interest-bearing deposits   3,281,929       12,939   1.60       3,238,438       13,672   1.68       3,298,240       13,593   1.66  
    Securities sold under agreements to repurchase   8,754       22   1.02       31,624       179   2.26       32,456       152   1.89  
    Borrowings   12,890       109   3.41       13,370       115   3.42       13,003       125   3.87  
    Subordinated notes   39,563       470   4.82       39,543       470   4.73       39,484       470   4.78  
    Junior subordinated debentures issued to capital trusts   52,856       890   6.83       52,841       961   7.23       52,796       933   7.11  
    Total interest-bearing liabilities   3,395,992     $ 14,430   1.72 %     3,375,816     $ 15,397   1.81 %     3,435,979     $ 15,273   1.79 %
    Noninterest-bearing deposits   1,045,733               1,041,471               1,036,402          
    Noninterest-bearing liabilities   36,373               35,644               37,107          
    Total liabilities   4,478,098               4,452,931               4,509,488          
    Stockholders’ Equity   554,715               541,535               493,976          
    Total liabilities and stockholders’ equity $ 5,032,813             $ 4,994,466             $ 5,003,464          
                                       
    Net interest income/Net interest margin (1)     $ 48,708   4.12 %       $ 47,401   3.96 %       $ 46,688   3.94 %
    Tax-equivalent adjustment (2)       545   0.04           562   0.05           575   0.05  
    Net interest income (tax-equivalent basis)/
    Net interest margin (tax-equivalent basis) (2) (3)    		     $ 49,253   4.16 %       $ 47,963   4.01 %       $ 47,263   3.99 %
    Net interest rate spread (4)         3.62 %           3.44 %           3.44 %
    Net interest-earning assets (5) $ 1,402,029             $ 1,382,518             $ 1,329,470          
    Ratio of interest-earning assets to interest-bearing liabilities   1.41               1.41               1.39          
    Cost of total deposits         1.21 %           1.27 %           1.26 %
    Cost of funds         1.32             1.39             1.37  

    ____________________________________

    *   Annualized measure.

    (1)   Net interest margin represents net interest income divided by average total interest-earning assets.
    (2)   On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%.
    (3)   See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
    (4)   Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
    (5)   Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.

               
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
               
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    NONPERFORMING ASSETS          
    Nonaccrual $ 5,102     $ 7,652     $ 9,657  
    Past due 90 days or more, still accruing   4       4       —  
    Total nonperforming loans   5,106       7,656       9,657  
    Foreclosed assets   460       367       277  
    Total nonperforming assets $ 5,566     $ 8,023     $ 9,934  
               
    Nonperforming loans that are wholly or partially guaranteed by the U.S. Government $ 1,350     $ 1,573     $ 2,676  
               
    Allowance for credit losses $ 42,111     $ 42,044     $ 40,815  
    Loans, before allowance for credit losses   3,461,778       3,466,146       3,345,962  
               
    CREDIT QUALITY RATIOS          
    Allowance for credit losses to loans, before allowance for credit losses   1.22 %     1.21 %     1.22 %
    Allowance for credit losses to nonaccrual loans   825.38       549.45       422.65  
    Allowance for credit losses to nonperforming loans   824.74       549.16       422.65  
    Nonaccrual loans to loans, before allowance for credit losses   0.15       0.22       0.29  
    Nonperforming loans to loans, before allowance for credit losses   0.15       0.22       0.29  
    Nonperforming assets to total assets   0.11       0.16       0.20  
    Nonperforming assets to loans, before allowance for credit losses, and foreclosed assets   0.16       0.23       0.30  
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    ALLOWANCE FOR CREDIT LOSSES          
    Beginning balance $ 42,044     $ 40,966     $ 40,048  
    Provision for credit losses   496       1,771       560  
    Charge-offs   (665 )     (1,086 )     (227 )
    Recoveries   236       393       434  
    Ending balance $ 42,111     $ 42,044     $ 40,815  
               
    Net charge-offs (recoveries) $ 429     $ 693     $ (207 )
    Average loans   3,460,906       3,387,541       3,371,219  
               
    Net charge-offs (recoveries) to average loans *   0.05 %     0.08 %     (0.02) %

    ____________________________________

    *   Annualized measure.

      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    PROVISION FOR CREDIT LOSSES          
    Loans $ 496   $ 1,771     $ 560  
    Unfunded lending-related commitments   80     (1,046 )     (33 )
    Total provision for credit losses $ 576   $ 725     $ 527  
                         
    Reconciliation of Non-GAAP Financial Measures –
    Adjusted Net Income and Adjusted Return on Average Assets
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Net income $ 19,075     $ 20,272     $ 15,258  
    Less: adjustments          
    Gains (losses) on closed branch premises   59       —       (635 )
    Realized gains (losses) on sales of securities   —       (315 )     (3,382 )
    Mortgage servicing rights fair value adjustment   (308 )     1,331       80  
    Total adjustments   (249 )     1,016       (3,937 )
    Tax effect of adjustments (1)   71       (290 )     1,122  
    Total adjustments after tax effect   (178 )     726       (2,815 )
    Adjusted net income $ 19,253     $ 19,546     $ 18,073  
               
    Average assets $ 5,032,813     $ 4,994,466     $ 5,003,464  
               
    Return on average assets *   1.54 %     1.61 %     1.23 %
    Adjusted return on average assets *   1.55       1.56       1.45  

    ____________________________________

    *   Annualized measure.

    (1)   Assumes a federal income tax rate of 21% and a state tax rate of 9.5%.  

    Reconciliation of Non-GAAP Financial Measures –
    Adjusted Earnings Per Share — Basic and Diluted
      Three Months Ended
    (dollars in thousands, except per share amounts) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Numerator:          
    Net income $ 19,075   $ 20,272   $ 15,258
               
    Adjusted net income $ 19,253   $ 19,546   $ 18,073
               
    Denominator:          
    Weighted average common shares outstanding   31,584,989     31,559,366     31,662,954
    Dilutive effect of outstanding restricted stock units   126,682     143,498     140,233
    Weighted average common shares outstanding, including all dilutive potential shares   31,711,671     31,702,864     31,803,187
               
    Earnings per share – basic $ 0.60   $ 0.64   $ 0.48
    Earnings per share – diluted $ 0.60   $ 0.64   $ 0.48
               
    Adjusted earnings per share – basic $ 0.61   $ 0.62   $ 0.57
    Adjusted earnings per share – diluted $ 0.61   $ 0.62   $ 0.57
                     
    Reconciliation of Non-GAAP Financial Measures –
    Pre-Provision Net Revenue, Pre-Provision Net Revenue Less Net Charge-offs (Recoveries),
    Adjusted Pre-Provision Net Revenue, and Adjusted Pre-Provision Net Revenue Less Net Charge-offs (Recoveries)
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Net interest income $ 48,708     $ 47,401     $ 46,688  
    Noninterest income   9,306       11,630       5,626  
    Noninterest expense   (31,935 )     (30,908 )     (31,268 )
    Pre-provision net revenue   26,079       28,123       21,046  
    Less: adjustments          
    Gains (losses) on closed branch premises   59       —       (635 )
    Realized gains (losses) on sales of securities   —       (315 )     (3,382 )
    Mortgage servicing rights fair value adjustment   (308 )     1,331       80  
    Total adjustments   (249 )     1,016       (3,937 )
    Adjusted pre-provision net revenue $ 26,328     $ 27,107     $ 24,983  
               
    Pre-provision net revenue $ 26,079     $ 28,123     $ 21,046  
    Less: net charge-offs (recoveries)   429       693       (207 )
    Pre-provision net revenue less net charge-offs $ 25,650     $ 27,430     $ 21,253  
               
    Adjusted pre-provision net revenue $ 26,328     $ 27,107     $ 24,983  
    Less: net charge-offs (recoveries)   429       693       (207 )
    Adjusted pre-provision net revenue less net charge-offs $ 25,899     $ 26,414     $ 25,190  
                           
    Reconciliation of Non-GAAP Financial Measures –
    Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis)
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Net interest income (tax-equivalent basis)          
    Net interest income $ 48,708     $ 47,401     $ 46,688  
    Tax-equivalent adjustment (1)   545       562       575  
    Net interest income (tax-equivalent basis) (1) $ 49,253     $ 47,963     $ 47,263  
               
    Net interest margin (tax-equivalent basis)          
    Net interest margin *   4.12 %     3.96 %     3.94 %
    Tax-equivalent adjustment * (1)   0.04       0.05       0.05  
    Net interest margin (tax-equivalent basis) * (1)   4.16 %     4.01 %     3.99 %
               
    Average interest-earning assets $ 4,798,021     $ 4,758,334     $ 4,765,449  

    ____________________________________

    *   Annualized measure.

    (1)   On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

    Reconciliation of Non-GAAP Financial Measures –
    Efficiency Ratio (Tax-equivalent Basis) and Adjusted Efficiency Ratio (Tax-equivalent Basis)
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Total noninterest expense $ 31,935     $ 30,908     $ 31,268  
    Less: amortization of intangible assets   695       709       710  
    Noninterest expense excluding amortization of intangible assets $ 31,240     $ 30,199     $ 30,558  
               
    Net interest income $ 48,708     $ 47,401     $ 46,688  
    Total noninterest income   9,306       11,630       5,626  
    Operating revenue   58,014       59,031       52,314  
    Tax-equivalent adjustment (1)   545       562       575  
    Operating revenue (tax-equivalent basis) (1)   58,559       59,593       52,889  
    Less: adjustments to noninterest income          
    Gains (losses) on closed branch premises   59       —       (635 )
    Realized gains (losses) on sales of securities   —       (315 )     (3,382 )
    Mortgage servicing rights fair value adjustment   (308 )     1,331       80  
    Total adjustments to noninterest income   (249 )     1,016       (3,937 )
    Adjusted operating revenue (tax-equivalent basis) (1) $ 58,808     $ 58,577     $ 56,826  
               
    Efficiency ratio   53.85 %     51.16 %     58.41 %
    Efficiency ratio (tax-equivalent basis) (1)   53.35       50.68       57.78  
    Adjusted efficiency ratio (tax-equivalent basis) (1)   53.12       51.55       53.77  

    ____________________________________
    (1)   On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

    Reconciliation of Non-GAAP Financial Measures –
    Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share
    (dollars in thousands, except per share data) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Tangible Common Equity          
    Total stockholders’ equity $ 565,057     $ 544,605     $ 496,681  
    Less: Goodwill   59,820       59,820       59,820  
    Less: Intangible assets, net   17,148       17,843       19,972  
    Tangible common equity $ 488,089     $ 466,942     $ 416,889  
               
    Tangible Assets          
    Total assets $ 5,092,192     $ 5,032,902     $ 5,040,510  
    Less: Goodwill   59,820       59,820       59,820  
    Less: Intangible assets, net   17,148       17,843       19,972  
    Tangible assets $ 5,015,224     $ 4,955,239     $ 4,960,718  
               
    Total stockholders’ equity to total assets   11.10 %     10.82 %     9.85 %
    Tangible common equity to tangible assets   9.73       9.42       8.40  
               
    Shares of common stock outstanding   31,631,431       31,559,366       31,612,888  
               
    Book value per share $ 17.86     $ 17.26     $ 15.71  
    Tangible book value per share   15.43       14.80       13.19  
                           
    Reconciliation of Non-GAAP Financial Measures –
    Return on Average Tangible Common Equity,
    Adjusted Return on Average Stockholders’ Equity and Adjusted Return on Average Tangible Common Equity
      Three Months Ended
    (dollars in thousands) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
               
    Average Tangible Common Equity          
    Total stockholders’ equity $ 554,715     $ 541,535     $ 493,976  
    Less: Goodwill   59,820       59,820       59,820  
    Less: Intangible assets, net   17,480       18,170       20,334  
    Average tangible common equity $ 477,415     $ 463,545     $ 413,822  
               
    Net income $ 19,075     $ 20,272     $ 15,258  
    Adjusted net income   19,253       19,546       18,073  
               
    Return on average stockholders’ equity *   13.95 %     14.89 %     12.42 %
    Return on average tangible common equity *   16.20       17.40       14.83  
               
    Adjusted return on average stockholders’ equity *   14.08 %     14.36 %     14.72 %
    Adjusted return on average tangible common equity *   16.36       16.77       17.57  

    ____________________________________

    *   Annualized measure.

    The MIL Network –

  • MIL-OSI Australia: Joint doorstop interview, Macquarie Park

    Source: Australian Parliamentary Secretary to the Minister for Industry

    JEROME LAXALE:

    I’m Jerome Laxale, the Member for Bennelong. It’s so great to welcome the Minister for Housing and the Minister for Climate Change and Energy, the Assistant Minister Jenny McAllister. It’s so great to be here at a small business in Bennelong. These energy efficiency upgrades will make a difference. I’ve run a small business my whole life. And I know that each and every day you’re looking to make savings, you’re looking to reinvest in the business. To get a better outcome for the bottom line, but also for your customers. Investing in these energy efficiency upgrades will help small businesses right across the country. Round 2 being announced today builds on the back of Round 1, which was announced last year. And we had a great example, in Bennelong where a supermarket used these energy efficiency grants to install controllers on their refrigerants, which has reduced their power prices by 20 per cent to 30 per cent. By the government providing these grants, it gives small businesses incentives, to do the homework, and to invest in upgrades to their energy efficiency, reduces emissions and reduces power bills. This is exactly what this Albanese government was elected to deliver. And it’s so great that we have another business here in Bennelong that has applied, that has been successful. They’ll see the power prices go down; they’ll see their emissions go down – all from this incentive by the federal government. It gives me great pleasure to invite Minister McAllister, to talk about it a lot more. It’s a very exciting program and one that I’m proud to have been an advocate for.

    SENATOR MCALLISTER:

    Thanks very much, Jerome, for your warm welcome and for your tireless advocacy for the people of Bennelong. It’s a pleasure to be here with my friend and colleague, Minister Collins. And today to announce the second round of the Energy Efficiency Grants for Small and Medium Enterprises. Now, we know that over the last 10 years, electricity has literally been leaking out the doors and windows of Australian homes and businesses because too little government attention was paid to the opportunities afforded by energy efficiency. Small improvements to businesses can make a big difference in an ongoing way to the energy demands. Now here at The Governor in Jerome’s electorate of Bennelong, they understand that changes to the energy performance of this operation will help them with their overall business performance. They’ve already made the decision to put solar on the roof, but in addition to that, they are now seeking to install monitoring equipment on the refrigeration, switch over their hot water from gas to a much more efficient electric system, and do an overall energy audit, so that can also understand the future opportunities to improvements right here. Our grants will allow these kinds of activities to happen right across the country. So from Darwin down to Hobart, Sydney to Perth, we will assist more than 1,700 Australian small and medium sized businesses to improve their energy performance. Lighting, refrigeration, heating and cooling, all of these things can make a lasting and enduring difference to the bills paid by small businesses and help these businesses to thrive. There’s a lot of work to do. This area of policy was characterised by a decade of neglect. But we are up for this task, and it is my very great pleasure to announce these grants today. I might introduce the Small Business Minister, Minister Collins, to make a few additional remarks, about the work that we are doing [inaudible] to support the small business sector.

    JULIE COLLINS:

    Thanks, Jenny. It’s terrific to be here at The Governor Hotel, and I thank them for having us today and for their success in this energy efficiency grant. It’s also terrific, obviously, to be with my friend and local Member, Jerome. It’s terrific to visit Jerome’s electorate. And again, as my colleague said, he’s a terrific advocate for people in Bennelong here in New South Wales. And of course, my other friend and colleague, Minister McAllister, who’s doing a terrific job when it comes to climate and energy, and particularly in terms of helping small businesses improve their energy efficiency and put downward pressure on their energy bills. That is what we have been doing as a government supporting small businesses with targeted support in ways to support small businesses, but also put downward pressure on inflation. These grants are a prime example of the government supporting and investing with small businesses in their business so that they get the returns not just today, but over the long term. As we’ve heard from Minister McAllister and indeed from the local member, Jerome, these grants are incredibly popular because what they do is they get small businesses to think about their energy efficiency, and they’ve put downward pressure on their energy bills over the long term. They are, of course, from our government, supporting small businesses, as we’ve heard, the second round over $40 million going to 1,700 small businesses and medium‑sized enterprises across the country. We, of course, are supporting small businesses in other ways. What we saw in our last budget was our Small Business Budget Statement, which has got over $640 million in targeted support for small businesses.

    Because we know while many small businesses are thriving, some small businesses are doing it tough, and we’re providing that targeted support. For things like our direct energy bill relief, up to $325 for around 1 million small businesses across the country. Our instant asset write‑off $20,000, for each asset for small businesses has been extended for this financial year as well as last. We have of course extended important programs to provide mental health and wellbeing for small businesses. To make sure that if they want to expand and grow their business or if they’re having some issues with their small businesses, they can get that targeted personal support for their business through financial counselling and advice. We, of course, are also leveling the playing field. We have got through the parliament legislation in relation to improving payment times for small businesses, again, to help small businesses with their cash flow. We’re reforming the franchising system to make sure that we have as a level playing field as we can get so that small businesses can compete with big businesses. We want to stay small businesses thrive in Australia, and that is what our small business target of support is all about. Labor is the party of supporting small businesses, and I look forward to continuing to work with colleagues like Minister McAllister to ensure that small businesses thrive right across the country.

    JOURNALIST:

    AEMO has flagged drops in energy supply for renewables throughout winter, with more gas needed to fill the gap. What is the plan if renewable output doesn’t improve?

    COLLINS:

    Look what we know is that renewables are the cheapest form of energy. AEMO supports what Labor is doing in terms of more renewables into the grid. What we also know is, is that the Liberal and National plan for nuclear will be too slow and too expensive when it comes to energy in Australia. What we’re doing here today is supporting small businesses to put downward pressure on their energy and to help them with their energy bills. And I’m happy to hand over to Minister McAllister to talk more about energy more generally. What I would say is that the alternative plan coming from Peter Dutton to go nuclear is too slow and too expensive, and our plan is being supported by AEMO to get more renewables into the system. Can I say, as a proud Tasmanian, we have a lot of renewables in Tasmania. We’ve been successfully net zero now for 8 out of the 9 last years. So it can be done.

    MCALLISTER:

    Thanks very much, Julie. Today we’ve received 2 reports from the market bodies indicating that renewables remain the lowest cost form of generation and are making an increasingly important contribution to the grid. Now, the reports also confirm the information that has been provided to successive governments over a very long period of time now – which is that more investment is required in generation capability to replace the aging coal‑fired power fleet that is coming to the end of its life.

    Unfortunately, during the period of the last government under the Liberals, these warnings were ignored. Twenty-four coal fired power stations announced or brought forward their closure dates, and the response to this was zero from the previous government. We are acting and taking steps now to bring on the new, reliable renewables that are necessary to develop – to deliver affordable energy for Australians. Now Peter Dutton’s plan is in no way responsive to the information that’s in front of us.

    Mr Dutton’s plan, apparently, is to have a conversation over the next term about nuclear with some communities, and then to wait until 2040 to deliver new generation capacity. We can’t wait that long. We need to get on with the job delivering the technologies that the experts tell us, are necessary to deliver an affordable and reliable power grid.

    JOURNALIST:

    The government has approved gas exploration licenses around Victoria and Tassie. How quickly do we need to get gas – that gas into the grid?

    MCALLISTER:

    We understand that the future of the Australian electricity market will be built on a range of technologies: renewables, like wind, solar, batteries, pumped hydro and of course, gas for those occasions when we need it as a backup. And what AEMO tells us is that looking to the future, we will see gas used less and less frequently, but when it’s used, it will be really important. It’s on that basis that we built the Future Gas Strategy. It’s important for Australians to think about where we are going to get the gas that we will need out ‘til 2050, but at the same time we retain focus on our core purpose, which is building out the new generation capability that is necessary to replace the aging coal‑fired generation. This is a task that has been completely ignored by the previous government, and it appears that in opposition they have not learned the lessons from the past. The current plan is to do something, perhaps in 2040. What happens between now and then is a complete mystery. And it’s time for Mr Dutton to front up and explain to Australians what the plan is between now and 2040, to meet the energy demands that the Australian economy requires.

    MIL OSI News –

  • MIL-OSI: XRP News: XploraDEX Presale Enters Final Hours—$XPL Token Distribution Begins This Week as XRP’s Smartest DEX Goes Live

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, April 21, 2025 (GLOBE NEWSWIRE) — The clock is down to its final ticks. With just a few hours left before the XploraDEX $XPL Presale closes, the XRP community is witnessing a final rush of activity as investors make their last move to be part of the most innovative DeFi project launching on XRPL.

    XploraDEX, the first AI-powered decentralized exchange native to the XRP Ledger, with few tokens remaining, Traders and whales alike are racing against time to claim the remaining supply before the window shuts for good.

    Join $XPL Presale

    But there’s more: Token distribution begins this week. That means holders won’t have to wait weeks or months to see utility—they’ll be part of the first wave accessing staking, AI-powered dashboards, and trading incentives as soon as the rollout starts.

    XploraDEX is redefining what it means to trade on-chain. The platform combines artificial intelligence with ultra-fast transaction speeds to offer:

    • Real-time AI-generated trade alerts
    • Automated trading strategies based on personal preferences
    • Dynamic market analysis tools
    • Launchpad access for early-stage XRPL projects
    • Staking pools and governance rights for $XPL holders

    For those holding $XPL Token, early entry unlocks access to the platform’s most powerful features before the general market joins. The presale is the last chance to acquire the token at its lowest valuation—before it lists on XRPL DEXs.

    Join $XPL Presale

    With launch preparations in motion and token distribution imminent, early participants will enjoy first access to staking rewards, beta AI tools, and governance modules.

    The buzz isn’t manufactured. Telegram channels are buzzing, wallet activity is spiking, and mentions of XploraDEX are dominating XRP crypto conversations. Analysts have already dubbed $XPL as the “AI breakout of the year” on XRPL.

    Participate in $XPL Presale

    For anyone still on the sidelines, the message is clear: act now or watch others capitalize. There are only hours left—and this is the final opportunity to position before the project shifts into activation mode.

    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/242ca3c9-7560-4895-bf30-e031dae77259

    The MIL Network –

  • MIL-OSI: MEXC Announces the Listing of Balance (EPT) with 6,000,000 EPT and 50,000 USDT in Rewards

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 21, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has announced that it will list Balance (EPT) on April 21, 2025 (UTC). To celebrate the listing, the platform has launched a series of events featuring a total reward of 6,000,000 EPT and 50,000 USDT for users.

    Balance is an innovative Web3 platform that integrates AI and blockchain technologies to create immersive digital interaction experiences. Developed by the team behind E-PAL, the world’s largest game companion platform. Balance offers services such as Human Epal, AI Epal, AI-Driven Battle Report System, and more. These features effectively address key challenges in blockchain gaming, including security, scalability, and development efficiency.

    $EPT is the native utility token of the Balance ecosystem, with a total supply of 10 billion tokens. It functions as the core medium powering payments, governance participation, and on-chain transactions across the platform, forming a highly synergistic and sustainable internal economy.

    In celebration of the Balance (EPT) listing, MEXC is launching a series of events to offer users exclusive opportunities to earn generous rewards.

    The key details are as follows:

    • Event 1: EPT Launchpool – Stake USDT, MX and EPT to Share 4,800,000 EPT
      Event Period: April 21, 2025, 12:00 – April 24, 2025, 10:00 (UTC)
      Users can stake USDT, MX, or EPT to earn valuable rewards through MEXC’s EPT Launchpool.
    • Event 2: Join Airdrop+ to Share 1,200,000 EPT & 50,000 USDT Bonus
      Event Period: April 21, 2025, 12:00 – May 1, 2025, 10:00 (UTC)
      Benefit 1: Deposit and share 960,000 EPT (New user exclusive)
      Benefit 2: Futures Challenge — Trade to share 50,000 USDT in Futures bonus (For all users)
      Benefit 3: Invite new users and share 240,000 EPT (For all users)
    • Event 3: Spread the Word & Win
      Event Period: April 21, 2025, 10:00 – April 27, 2025, 23:59 (UTC)
      Users who share the EPT events on social media during the event period can win extra rewards.

    As a global exchange, MEXC drives innovation across emerging sectors such as Web3 gaming, AI, and DePIN by offering deep liquidity, streamlined market access, and performance-based incentive programs. The listing of EPT opens new investment avenues in the rapidly evolving AI-driven gaming space.

    MEXC has established itself as a leading exchange by consistently offering users early access to high-potential crypto assets. In 2024 alone, the platform listed 2,376 new tokens, including 1,716 initial listings. According to the latest TokenInsight report, MEXC led the industry with 461 spot listings between November 1, 2024, and February 15, 2025. During this period, the exchange maintained a high listing frequency, consistently ranking among the top six platforms, demonstrating its agility in capturing emerging market trends. Looking ahead, MEXC remains committed to expanding its asset offerings and helping users seize timely opportunities in the fast-moving crypto market.

    For full event details and participation rules, please visit here.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    Source

    Contact :
    Lucia Hu
    lucia.hu@mexc.com

    Disclaimer: This press release is provided by MEXC. 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. 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. 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.Speculate only with funds that you can afford to lose.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 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/e87a7d97-e964-48d6-a6d6-f5a84a3e3038

    The MIL Network –

  • MIL-OSI Global: Pope Francis tried to change the Catholic Church for women, with mixed success

    Source: The Conversation – Global Perspectives – By Tracy McEwan, School of Humanities, Creative Industries and Social Sciences, University of Newcastle

    Pope Francis, the head of the Catholic Church, died on Easter Monday at the age of 88.

    On Easter Sunday, he used his message and blessing to appeal for peace in Middle East and Ukraine.

    Pope Francis will be remembered as a pastoral leader who cared deeply about the environment and those impacted by migration, poverty and war.

    During his Pontificate, he did make important changes to the patriarchal structure of the Catholic Church – but did he go far enough?

    A pope for all?

    Throughout his papacy, Pope Francis highlighted the struggles of women in society. He took important steps to expand opportunities for women in the church and address its patriarchal structure.

    This was showcased by his inclusion of women in the 2024 synod (a global meeting of the whole church, represented by bishops) and his granting of voting rights for 57 women out of a total of 368 attendees.

    His appointment of around 20 women to positions of authority in the Vatican is unprecedented.

    This includes the recent 2025 appointment of an Italian religious sister, Simona Brambilla, to lead a Vatican department.

    During his papacy, Pope Francis also strongly supported the ongoing involvement of women in positions of leadership in the Roman Curia (the governance body of the church).

    At local levels, in parishes, he made it possible for women to be formally appointed to the positions of catechist and lector – roles previously reserved for men.

    He also emphasised a need for more women to study and teach theology.

    An ‘urgent challenge’

    However, these changes barely scratched the surface of securing full equality for women in the Catholic Church.

    Pope Francis himself stated women still encountered obstacles, and opportunities for women to participate were under-utilised by local churches.

    In his autobiography, published in January this year, he wrote of the “urgent challenge” to include women in central roles at every level of church life.

    He viewed this move as essential to “de-masculinising” the church and removing the problem of clericalism.

    Importantly, the reasoning that underpins women’s limited role in the life of the church remains unchanged.

    In particular, Pope Francis referred to gender stereotypes and supported the theology of complementarianism (a view that women are different but equally valued, where their central contribution is to motherhood, femininity and pastoral care responsibilities).

    While Pope Francis was genuinely committed to dialogue about and with women, his legacy remains contradictory.

    Equality is still lacking

    Women have been appointed to administrative and management positions, but decision making and ministry still largely rest with clerical men.

    Pope Francis’ emphasis on the “feminine nature” women bring to roles, rather than their gifts and talents, limited women.

    And although he called out discrimination against women in broader society, he expressed opposition to contemporary feminism, which he titled “gender ideology” and “machismo with a skirt”.

    Moreover, despite ongoing discussions, Pope Francis appeared to be unresponsive to calls for a greater role for women in ministry.

    Women cannot preach during Mass or be ordained to the priesthood or deaconate, despite multiple attempts by Catholic reform groups to advocate for women’s inclusion.

    The 2023 International Survey of Catholic Women, which surveyed more than 17,000 Catholic women from 104 countries and eight language groups, found women across the world were keen for church reform that recognises women’s leadership capacities and ongoing contribution to church communities.

    More than eight in ten (84%) of the women surveyed supported reform in the church. Two-thirds (68%) agreed women should be ordained to the priesthood, and three-quarters (78%) were supportive of women preaching during Mass.

    The survey reported on the deep frustration and despair women experienced for not having their gifts and talents recognised.

    Women also stated they are dissatisfied with the burden of labour they carry in the church.

    In this regard, Pope Francis did not address the financial burdens and exploitation of Catholic women who work for the church without adequate recognition or pay. This leaves women, particularly those working in parishes, open to exploitation.

    More worryingly, decades after cases of abuse were reported to the Vatican, Pope Francis publicly acknowledged that women, particularly nuns, were significantly affected by spiritual and sexual abuse.

    While this recognition is important, church responses to abuse remain inadequate and more needs to be done to safeguard women in pastoral settings.

    With regard to sexual and reproductive decision-making, the International Survey of Catholic Women found the majority of respondents wanted more freedom of conscience around such issues. This is because when they are denied by church law, women’s agency was diminished and their vulnerability to situations of gendered violence increased.

    The papacy of Pope Francis has made no reforms in this area, leaving many Catholic women frustrated and disappointed.

    Hope for the future?

    More than 60 years ago, Vatican II generated hope for change among Catholic women.

    Pope Francis reignited that hope, and listened. But responses have been too slow and Catholic women are still waiting for genuine reform.

    Tracy McEwan receives funding from the Australia-Germany Joint Research Cooperation Scheme (DAAD) and Australian Research Theology Foundation Inc. (ARTFinc).

    Kathleen McPhillips receives funding from the Australian Research Theology Foundation, the Australia-Germany Joint Research Cooperation Scheme (DAAD) and the Ian and Shirley Norman Foundation.

    – ref. Pope Francis tried to change the Catholic Church for women, with mixed success – https://theconversation.com/pope-francis-tried-to-change-the-catholic-church-for-women-with-mixed-success-250911

    MIL OSI – Global Reports –

  • MIL-OSI Russia: “How I’ll Spend This Summer”: Schools for Gifted Children “Grow with Vyshkoy” Open Enrollment

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    HSE University invites students in grades 8–11 to spend their holidays usefully in a community of like-minded people who are passionate about economics, linguistics, entrepreneurship, philology or law. Applications can be submitted to five subject schools as early as April: FEN Economic School – “Voronovo”, Summer multidisciplinary school “Facets of Entrepreneurship”, Summer linguistic school, Summer Law School, Summer Historical and Philological School.

    Schools for gifted children “Grow up with Vyshka” introduce children to modern trends in the development of science and technology, and provide an idea of the skills that are most in demand on the labor market. This is a meeting place for high school students, students, and teachers at the HSE, as well as representatives of large organizations and companies from the business sector.

    To become a participant in any of the five summer schools, you need to pass a competitive selection: submit a motivation letter and an electronic portfolio, including certificates and diplomas of Olympiads that correspond to the profile of the school. The criteria for competitive selection are different in each school, but they are united by the main thing – the presence of a high school student’s motivation to study something new within the framework of the chosen subject area.

    Participation in all schools is fee-based, prices will be published towards the end of April.

    Economic School FEN – “Voronovo”

    The school introduces the basics of macroeconomics and macroeconomic policy. It is held for the first time within the city limits of Moscow. Senior students will meet with invited speakers involved in the development and implementation of fiscal and monetary policy, and lectures by HSE professors. The school’s mentors are the best students of the Faculty of Economic Sciences.

    Dates: June 18–22, 2025.

    Venue: HSE Voronovo training center.

    Participants: schoolchildren in grades 8–11 who are interested in economics and want to obtain an economics degree in the future.

    Online applications for participation in the competitive selection will be accepted from 21.04.2025 to 21.05.2025.

    Summarizing the results of the competitive selection: no later than 05/29/2025.

    Ask the organizers a question: economicsschool@hse.ru.

    Go to the school website

    Summer multidisciplinary school “Facets of Entrepreneurship”

    During the ten days of the school, each participant will discover new facets of creativity, creation and management, and will understand in which area of entrepreneurship they would like to develop their project. The guys will have a busy program: meetings with representatives of large companies, lectures by teachers of the Higher School of Business, analysis and solution of business cases, teamwork, practice and experiments in product development, sports, creativity and, of course, just relaxing in nature. At the end of the program, everyone will be able to present their projects to investors and experts from partner companies.

    Dates: July 1–11, 2025.

    Location: Buran sanatorium, Moscow region.

    Participants: schoolchildren who have completed grades 8–10.

    Electronic portfolio submission period: from 21.04.2025 to 23.05.2025.

    Publication of the results of the competitive selection: 03.06.2025.

    Ask the organizers a question: estrukova@hse.ru.

    Go to the school website

    Summer linguistic school

    A project for high school students interested in linguistics — the science of how language works. LLS participants will learn how to process language data using a computer, where linguistic expeditions go and how experiments with language are conducted, they will solve linguistic problems and discuss how language differs among different social groups. There will also be many intellectual games and warm-up conversations.

    Dates: July 17–27, 2025.

    Venue: HSE Voronovo training center.

    Participants: schoolchildren who have completed 8th–10th grade and are interested in linguistics.

    Acceptance of online applications from schoolchildren to participate in the competitive selection: from 01.04.2025 to 05.05.2025.

    Summarizing the results of the competitive selection and announcement of candidates for participation: no later than 11.05.2025.

    Ask the organizers a question: llsh-org@yandex.ru.

    Go to the school website

    Summer Law School

    One of the largest HSE visiting schools for high school students. For one week in the summer, the kids will find themselves in the very center of the jurisprudence universe. They will hear lectures from practicing lawyers of large companies and leading HSE professors, have informal conversations with students of the Faculty of Law, and, of course, make many new friends.

    Dates: August 1–8, 2025.

    Venue: HSE Voronovo training center.

    Participants: schoolchildren who have completed 8th–10th grades, who are interested in law or want to become lawyers.

    Acceptance of online applications from schoolchildren to participate in the competitive selection: from 12.04.2025 to 31.05.2025.

    Summarizing the results of the competitive selection and announcement of candidates for participation: no later than 12.06.2025.

    Go to the school website

    Summer Historical and Philological School

    LIFSH is a chance for high school students to temporarily find themselves in a dense environment of like-minded people interested in deep and attentive immersion in the humanities, in expanding their knowledge of history, philology and art history, in finding their interests. The experience gained in lectures and seminars will not only help in conducting their own scientific research, but will also be useful in Olympiads and other intellectual competitions.

    Dates: August 12–19, 2025.

    Venue: HSE Voronovo training center.

    Participants: schoolchildren in grades 8–11 interested in history, art history, philology, cultural studies and related disciplines.

    Acceptance of online applications from schoolchildren to participate in the competitive selection: from 10.03.2025 to 12.05.2025.

    Summarizing the results of the competitive selection and announcement of candidates for participation: no later than 15.06.2025.

    All information is published in the TG group LIFSH info and in the group in VKYou can also ask questions to the organizers there.

    Go to the school website

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

    MIL OSI Russia News –

  • MIL-OSI Russia: SPbPU became the driver of discussions at the international economic congress

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The 10th St. Petersburg International Economic Congress was held. The main topic was “Labor and the Transformation of Society: Knowledge, Creativity, Noonomics.” The event was organized by the S. Yu. Witte Institute for New Industrial Development together with the Free Economic Society of Russia with the participation of the Economics Section of the Social Sciences Department of the Russian Academy of Sciences, the Department of Global Problems and International Relations of the Russian Academy of Sciences, and the assistance of the World Association of Political Economy and the International Union of Economists. This significant event brought together more than a thousand leading scientists, experts, and representatives of the business community from Russia and 12 countries, including China, India, Greece, Great Britain, Canada, Turkey, Austria, Hungary, and others.

    At the plenary session, the Director of the Witte Institute of Industrial Development and the President of the Free Economic Society of Russia Sergei Bodrunov noted that over 10 years of work, SPEC has achieved significant results – both theoretical and practical, and has become a provider of scientific thought into practice. SPEC-2025 received numerous greetings from scientists, public and government figures: the President of the Russian Academy of Sciences Gennady Krasnikov, the Governor of St. Petersburg Alexander Beglov, the head of the UN group in Russia Vladimir Kuznetsov, the President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin. They all emphasized the high importance of such events for uniting the country’s intellectual potential and expert discussion of fundamental problems of economic science, the development of practical mechanisms for solving pressing problems.

    In his greeting to the participants of SPEC-2025, the rector of SPbPU and chairman of the St. Petersburg branch of the Russian Academy of Sciences Andrey Rudskoy pointed out the importance of consolidating the efforts of the scientific and expert community to solve the problems of Russia’s socio-economic development.

    “Traditionally, the congress brings together researchers from various fields – economists, sociologists, philosophers, lawyers, historians, education specialists and representatives of the exact sciences. Key issues of the global economy, social structure and problems of strategic development of Russia are discussed here. Today, the country faces difficult geopolitical tasks. The system of international relations and the structure of world economies are undergoing significant changes. In these conditions, it is especially important to develop theoretical and practical proposals for the transformation of national institutions, to consolidate the efforts of scientific communities in order to ensure the implementation of national development goals of the country,” Andrei Ivanovich noted.

    The congress was attended by Abel Aganbegyan (Corresponding Member of the British Academy, Honorary Member of the National Academy of Sciences of the Republic of Armenia, Vice President of the Russian Economic Society), Sergey Glazyev (current member of the Board for Integration and Macroeconomics of the Eurasian Economic Commission), Vladimir Okrepilov (member of the Presidium of the Union of Industrialists and Entrepreneurs of St. Petersburg) and other renowned economists.

    The forum participants discussed key challenges of our time — from personnel shortages and digital transformation to technological sovereignty and the development of the creative economy. Plenary sessions and round tables featured reports on innovations in the agricultural and industrial sectors, the prospects of artificial intelligence, strategic planning, and new approaches to macroeconomic modeling.

    Polytechnic University was represented at the congress by the IPMET delegation consisting of representatives of the institute’s structural divisions. Our colleagues took an active part in the work of the forum. Some moderated sections, some made reports, and students had a unique opportunity to get acquainted with the latest research and discuss current issues with leading experts.

    Director of the Higher School of Business Engineering Igor Ilyin not only acted as a moderator of the section “Structural, Technological and Digital Transformation of Industry in Russia”, but also presented a report on the implementation of digital technologies in the process architecture of enterprises and organizations. As part of SPEC-2025, Igor Vasilyevich headed the section, which brought together leading experts, representatives of industrial companies and scientists. The main focus of the section was on discussing current trends, challenges and prospects for digital transformation in Russian industry.

    “Digital transformation is not just the introduction of new technologies, it is a change in the entire business logic, processes and approaches to management. And successful transformation requires a comprehensive approach, including both technological and organizational changes,” Igor Vasilyevich emphasized.

    In his report, Igor Vasilyevich presented an analysis of modern digital technologies and their impact on the process architecture of enterprises. He focused in detail on such relevant areas as artificial intelligence, blockchain, digital twins, the Internet of Things (IoT) and confidential cloud computing. The practical examples presented in the report included cases from the medical and energy industries, which are being worked on within the framework of close cooperation between the Higher School of Business and the Laboratory of Interdisciplinary Research and Education on Technological and Economic Problems of Energy Transition (CIRETEC-GT) headed by Igor Vasilyevich and business partners of the Institute of Mechanics and Electronics and Telecommunications.

    Teachers and students of the Higher School of Industrial Management also took an active part in the forum. Associate Professor Olga Ergunova and Senior Lecturer Andrey Somov made presentations. Also, student reports were presented by HSPM Master’s students Maria Belova and Diana Yakimenko, who demonstrated a high level of research training. The reports were presented in specialized sections devoted to the digitalization of the economy, intellectual work and the transformation of production and social practices.

    The report by Marina Yanenko, professor at the Higher School of Service and Trade, presented an analysis of the impact of artificial intelligence on the process of market transformation, changes in business requirements for the knowledge and skills of specialists, and the emergence of new needs for the content of labor. Marina Borisovna noted that the growing availability of artificial intelligence makes it a key tool in a wide variety of economic sectors and formulated recommendations for improving competitive strategies in the labor market in the context of the development of artificial intelligence.

    The Higher School of Engineering and Economics was represented by the Head of the Research Laboratory “Digital Economy of Industry” Professor Alexander Babkin, Professor Irina Rudskaya, Associate Professor Lyudmila Guzikova and Associate Professor Nikolai Dmitriev. Lyudmila Aleksandrovna participated as a moderator of the seminar “New and Old Challenges of the Russian Labor Market: Adaptation Strategies of Various Socio-Demographic Groups”, and also spoke at this seminar with a report on the topic “Implementation of the Principles of Noonomics in a Unified Interregional System of the Labor Market for Specialists with Higher Education”. Alexander Vasilyevich took part in the plenary session and also made a report on the topic: “Strategizing the Digital Transformation of the Intelligent Cyber-Social Industrial Ecosystem Based on Industry 6.0”, noting that in modern conditions, issues of developing strategic approaches to the integration of advanced technologies and the creation of sustainable, human-oriented production systems are relevant.

    This year, representatives of the Department of Economic Theory of the IPMEiT took an active part in the work of the congress: Associate Professor Elena Milskaya, Associate Professor Anna Strizhak, Associate Professor Ekaterina Afonichkina, Associate Professor Olga Naumova, as well as 47 students in the areas of “Economic Security”, “Economic Statistics”, “Customs”.

    “We really enjoyed the event, we learned a lot of new things, the ideas and topics of the speakers inspired us to study individual economic issues in detail. It was great that we could choose the literature ourselves and take it for study. I would also like to emphasize the relevance of each problem raised at the congress, this is what aroused special interest. It was interesting to listen to the reasoning of professors and prominent figures in economics. We thank the organizers and want to say a huge thank you to Elena Andreevna Milskaya, who gave us a chance to become participants in the congress. It is great that our educational program in macroeconomics goes beyond the university!” – noted student of group 3753801/40002 Yulia Arteyeva.

    SPEC-2025 has once again confirmed its importance as a leading platform for discussing strategic challenges and opportunities in the knowledge economy. The participation of IPMET representatives in such a large-scale scientific event emphasizes the university’s sustainable aspiration for scientific leadership, integration into the expert community and the development of young scientists.

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

    MIL OSI Russia News –

  • MIL-Evening Report: Pope Francis tried to change the Catholic Church for women, with mixed success

    Source: The Conversation (Au and NZ) – By Tracy McEwan, School of Humanities, Creative Industries and Social Sciences, University of Newcastle

    Pope Francis, the head of the Catholic Church, died on Easter Monday at the age of 88.

    On Easter Sunday, he used his message and blessing to appeal for peace in Middle East and Ukraine.

    Pope Francis will be remembered as a pastoral leader who cared deeply about the environment and those impacted by migration, poverty and war.

    During his Pontificate, he did make important changes to the patriarchal structure of the Catholic Church – but did he go far enough?

    A pope for all?

    Throughout his papacy, Pope Francis highlighted the struggles of women in society. He took important steps to expand opportunities for women in the church and address its patriarchal structure.

    This was showcased by his inclusion of women in the 2024 synod (a global meeting of the whole church, represented by bishops) and his granting of voting rights for 57 women out of a total of 368 attendees.

    His appointment of around 20 women to positions of authority in the Vatican is unprecedented.

    This includes the recent 2025 appointment of an Italian religious sister, Simona Brambilla, to lead a Vatican department.

    During his papacy, Pope Francis also strongly supported the ongoing involvement of women in positions of leadership in the Roman Curia (the governance body of the church).

    At local levels, in parishes, he made it possible for women to be formally appointed to the positions of catechist and lector – roles previously reserved for men.

    He also emphasised a need for more women to study and teach theology.

    An ‘urgent challenge’

    However, these changes barely scratched the surface of securing full equality for women in the Catholic Church.

    Pope Francis himself stated women still encountered obstacles, and opportunities for women to participate were under-utilised by local churches.

    In his autobiography, published in January this year, he wrote of the “urgent challenge” to include women in central roles at every level of church life.

    He viewed this move as essential to “de-masculinising” the church and removing the problem of clericalism.

    Importantly, the reasoning that underpins women’s limited role in the life of the church remains unchanged.

    In particular, Pope Francis referred to gender stereotypes and supported the theology of complementarianism (a view that women are different but equally valued, where their central contribution is to motherhood, femininity and pastoral care responsibilities).

    While Pope Francis was genuinely committed to dialogue about and with women, his legacy remains contradictory.

    Equality is still lacking

    Women have been appointed to administrative and management positions, but decision making and ministry still largely rest with clerical men.

    Pope Francis’ emphasis on the “feminine nature” women bring to roles, rather than their gifts and talents, limited women.

    And although he called out discrimination against women in broader society, he expressed opposition to contemporary feminism, which he titled “gender ideology” and “machismo with a skirt”.

    Moreover, despite ongoing discussions, Pope Francis appeared to be unresponsive to calls for a greater role for women in ministry.

    Women cannot preach during Mass or be ordained to the priesthood or deaconate, despite multiple attempts by Catholic reform groups to advocate for women’s inclusion.

    The 2023 International Survey of Catholic Women, which surveyed more than 17,000 Catholic women from 104 countries and eight language groups, found women across the world were keen for church reform that recognises women’s leadership capacities and ongoing contribution to church communities.

    More than eight in ten (84%) of the women surveyed supported reform in the church. Two-thirds (68%) agreed women should be ordained to the priesthood, and three-quarters (78%) were supportive of women preaching during Mass.

    The survey reported on the deep frustration and despair women experienced for not having their gifts and talents recognised.

    Women also stated they are dissatisfied with the burden of labour they carry in the church.

    In this regard, Pope Francis did not address the financial burdens and exploitation of Catholic women who work for the church without adequate recognition or pay. This leaves women, particularly those working in parishes, open to exploitation.

    More worryingly, decades after cases of abuse were reported to the Vatican, Pope Francis publicly acknowledged that women, particularly nuns, were significantly affected by spiritual and sexual abuse.

    While this recognition is important, church responses to abuse remain inadequate and more needs to be done to safeguard women in pastoral settings.

    With regard to sexual and reproductive decision-making, the International Survey of Catholic Women found the majority of respondents wanted more freedom of conscience around such issues. This is because when they are denied by church law, women’s agency was diminished and their vulnerability to situations of gendered violence increased.

    The papacy of Pope Francis has made no reforms in this area, leaving many Catholic women frustrated and disappointed.

    Hope for the future?

    More than 60 years ago, Vatican II generated hope for change among Catholic women.

    Pope Francis reignited that hope, and listened. But responses have been too slow and Catholic women are still waiting for genuine reform.

    Tracy McEwan receives funding from the Australia-Germany Joint Research Cooperation Scheme (DAAD) and Australian Research Theology Foundation Inc. (ARTFinc).

    Kathleen McPhillips receives funding from the Australian Research Theology Foundation, the Australia-Germany Joint Research Cooperation Scheme (DAAD) and the Ian and Shirley Norman Foundation.

    – ref. Pope Francis tried to change the Catholic Church for women, with mixed success – https://theconversation.com/pope-francis-tried-to-change-the-catholic-church-for-women-with-mixed-success-250911

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: US film academy president: China’s cultural voice is rising

    Source: China State Council Information Office 3

    Janet Yang, president of the Academy of Motion Picture Arts and Sciences, recently discussed China’s growing cultural impact and expressed optimism about cultural exchange between China and the United States.

    Janet Yang, president of the Academy of Motion Picture Arts and Sciences, speaks at a forum during the 15th Beijing International Film Festival, Beijing, April 19, 2025. [Photo courtesy of BJIFF Organizing Committee]

    Yang, the first Asian American president to lead the film academy, is currently attending the 15th Beijing International Film Festival, which opened on April 18. The nonprofit academy behind the Oscars remains the world’s premier organization for film artists with nearly 11,000 members.

    The New York-born producer and daughter of Chinese immigrants has long been a significant figure in Hollywood’s Asian American community. Her career rose to prominence through her collaboration with Steven Spielberg on “Empire of the Sun,” which was filmed in Shanghai. Her subsequent film and television credits include “The Joy Luck Club,” “The People vs. Larry Flynt,” “Dark Matter” and “Over the Moon.”

    “My personal and professional experiences tell me that film has a unique power to bring people together,” she said at a forum during the film festival on April 19. “That is why I remain perpetually optimistic about cultural exchange between not only our two nations, but among everyone everywhere in the world.”

    She explained global film collaboration matters because filmmaking is inherently collaborative. Exchanging ideas and techniques enriches creativity and builds universal narratives that drive economic success. As new technologies break barriers, cross-border collaboration becomes indispensable.

    “Strategies in today’s competitive market for Chinese filmmakers with such a rich cultural legacy, embracing collaboration with international artists, particularly those with an interest in the culture, have amplified Chinese storytelling and created significant financial opportunities. In essence, global collaboration is both a pathway to cultural innovation and a strategic economic advantage that benefits us all,” she said.

    Yang noted audiences now strongly respond to original, emotionally true and culturally specific stories, citing “Parasite,” 2020’s historic non-English Oscar best picture winner, and this year’s winner “Anora,” a small, intimate film with deep humanity. Asian diaspora stories are also gaining major award recognition, she observed, with films like “Everything Everywhere All at Once” — a Chinese American independent absurdist sci-fi comedy-drama — winning seven Oscars including best picture in 2023. Independent Chinese cinema, such as Guan Hu’s “Black Dog,” which was nominated for a film independent spirit award after its Cannes premiere, proves budget constraints do not limit humanistic force.

    “These films prove that audiences don’t need to fully understand the culture to be moved by it,” she said. “For Chinese filmmakers, this is an amazing opportunity to go global, to get films out into the international marketplace.”

    Yang’s own journey stands as a powerful testament to the value of film as a cultural bridge. She recalled how a 1972 trip to China, where she witnessed her parents’ emotional reunion with relatives after 35 years apart, inspired her to study Chinese and later work in Beijing. Immersed in Chinese cinema, she found stories that helped shape her identity and career path. She launched her career by running North America’s first Chinese film distribution company, bringing fifth-generation cinema to Western audiences. She facilitated the making of “Empire of the Sun,” and continues to help forge bonds between Hollywood and China. Following China’s rapid cinematic rise after the 2008 Olympics, she pioneered U.S.-China film summits and co-productions like “Shanghai Calling” and a localized “High School Musical” adaptation.

    She noted challenges confronting world cinemas, including lower box office numbers following the pandemic and the new realities of artificial intelligence. While recognizing AI as a powerful tool, she warned of potential risks like job losses and films becoming technically proficient but emotionally hollow.

    “Too often, decisions in our business are driven by profit rather than cultural value. We absolutely need a healthy industry to sustain the art form. We also need to protect what makes cinema meaningful — its ability to move us, to challenge us and to reflect our shared humanity,” Yang said.

    The president noted that millions of overseas Chinese long to see their culture reflected and better understood worldwide. “I believe the world is beginning to listen,” she said. 

    Just this past year, remarkable signs showed China’s culture gaining global momentum — from the success of video game “Black Myth: Wukong” and adaptations of “The Three-Body Problem” novel to the record-shattering achievement of animated movie “Ne Zha 2” — demonstrating the country’s growing cultural influence. Social platforms like TikTok, Xiaohongshu and IShowSpeed’s recent livestreams in China further showcase Chinese life, while AI tools like DeepSeek extend this reach.

    “This phenomenon alone has become a powerful cultural moment in its own right — a terribly exciting milestone,” she said. “These are all signals of something larger. China’s cultural voice is rising. It’s claiming its rightful place on the world stage.”

    MIL OSI China News –

  • MIL-OSI USA: NASA Astronaut Don Pettit, Crewmates Complete Space Station Expedition

    Source: NASA

    NASA astronaut Don Pettit returned to Earth Saturday, accompanied by Roscosmos cosmonauts Alexey Ovchinin and Ivan Vagner, concluding a seven-month science mission aboard the International Space Station.
    The trio departed the space station at 5:57 p.m. EDT aboard the Soyuz MS-26 spacecraft before making a safe, parachute-assisted landing at 9:20 p.m. (6:20 a.m. on Sunday, April 20, Kazakhstan time), southeast of Dzhezkazgan, Kazakhstan. Pettit also celebrates his 70th birthday on Sunday, April 20.
    Spanning 220 days in space, Pettit and his crewmates orbited the Earth 3,520 times, completing a journey of 93.3 million miles. Pettit, Ovchinin, and Vagner launched and docked to the orbiting laboratory on Sept. 11, 2024.
    During his time aboard the space station, Pettit conducted research to enhance in-orbit metal 3D printing capabilities, advance water sanitization technologies, explore plant growth under varying water conditions, and investigate fire behavior in microgravity, all contributing to future space missions. He also used his surroundings aboard station to conduct unique experiments in his spare time and captivate the public with his photography.
    This was Pettit’s fourth spaceflight, where he served as a flight engineer for Expeditions 71 and 72. He has logged 590 days in orbit throughout his career. Ovchinin completed his fourth flight, totaling 595 days, and Vagner has earned an overall total of 416 days in space during two spaceflights.
    NASA is following its routine postlanding medical checks, the crew will return to the recovery staging area in Karaganda, Kazakhstan. Pettit will then board a NASA plane bound for the agency’s Johnson Space Center in Houston. According to NASA officials at the landing site, Pettit is doing well and in the range of what is expected for him following return to Earth.
    For more than two decades, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge and making research breakthroughs that are not possible on Earth. The station is a critical testbed for NASA to understand and overcome the challenges of long-duration spaceflight and to expand commercial opportunities in low Earth orbit. As commercial companies focus on providing human space transportation services and destinations as part of a strong low Earth orbit economy, NASA is focusing more resources on deep space missions to the Moon as part of Artemis in preparation for future astronaut missions to Mars.
    Learn more about International Space Station research and operations at:
    https://www.nasa.gov/station
    -end-
    Joshua FinchHeadquarters, Washington202-358-1100joshua.a.finch@nasa.gov
    Sandra JonesJohnson Space Center, Houston281-483-5111sandra.p.jones@nasa.gov

    MIL OSI USA News –