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Category: Economy

  • MIL-OSI Russia: Financial News: Self-prohibition of credits and loans: user profile

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    About 92% of citizens who set a self-prohibition in the first month of the service’s operation chose the option of a complete self-prohibition – a refusal to receive loans and credits from banks and microfinance organizations (MFOs) remotely and in person. This is evidenced by information from the Bank of Russia, based on data from credit history bureaus.

    44% of people who took advantage of the self-prohibition have no current credit obligations, including 26% who have never had such obligations.

    Citizens who only have active loans from microfinance organizations practically did not use the new instrument (less than 1% of citizens who set a self-prohibition).

    The leaders in the number of self-prohibitions established were residents of Moscow and the Moscow region (more than 19% of the number of citizens who established self-prohibitions in Russia), St. Petersburg (more than 5%), Rostov and Sverdlovsk regions, the Republic of Bashkortostan and Krasnodar Krai (more than 3% in each region).

    Over the first month, more than 8.1 million people used the self-prohibition service, which indicates a high demand for the new tool to combat fraud.

    More details about the portrait of a citizen who established a self-prohibition during the first month of its operation, read on the website of the Bank of Russia.

    Preview photo: Suri_Studio / Shutterstock / Fotodom

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

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: The region is developing steadily – Yuri Trutnev on the rate of socio-economic growth of the Magadan Region

    Translartion. Region: Russians Fedetion –

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

    Yuri Trutnev held a meeting on the issue of socio-economic development of the Magadan Region

    April 17, 2025

    Awarding of the public and business prize “Star of the Far East”

    April 17, 2025

    Yuri Trutnev inspected the recreational complex on Zavyalova Island

    April 17, 2025

    Yuri Trutnev inspected the recreational complex on Zavyalova Island

    April 17, 2025

    Yuri Trutnev at the Military Training Center at SVGU

    April 17, 2025

    Previous news Next news

    Yuri Trutnev held a meeting on the issue of socio-economic development of the Magadan Region

    Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev held a meeting on the issue of socio-economic development of the Magadan Region.

    “The region is developing steadily. Investments in fixed assets have grown by 3%. This is not the best indicator in the Far East, but there is positive dynamics. The industrial production index has grown by 5.9%, which is already quite a high indicator. Magadan Region confidently ranks second in the Far East in terms of wages. The growth rate of average monthly wages in 2024 was 114.8% compared to 2023. Consolidated budget revenues in 2024 increased by 30%. This is also a good result, which allows us to do a lot of useful things,” Yuri Trutnev opened the meeting.

    The Deputy Prime Minister recalled that the Russian Government continues to work to create conditions for comfortable living for people in the region. “A number of social facilities have been built and reconstructed in the region as part of the presidential unified subsidy. Thanks to the Far Eastern Mortgage program, 2,460 families have improved their housing conditions. More than 2,600 people in the region have received a Far Eastern hectare. On the instructions of the President of Russia, the master plan for the urban district of Magadan is being implemented. The plan provides for infrastructure measures totaling 159 billion rubles. The Government is working to ensure that master plans are financed on time and in full,” he said.

    Magadan Region Governor Sergey Nosov reported on the dynamics of the region’s socio-economic development. The region’s income grew by 143.6%. It was due to the price situation on the precious metals market and the growth of gold production. A record of 54 tons of gold production was achieved. The second stage of the plant at the Pavlik deposit reached its design capacity. As a result of the introduction of the flotation shop by Polyus, the metal recovery rate at the Natalkinskoye deposit was increased. Large investors in the field of mineral extraction are entering the region.

    Energy development issues were discussed. 30 investment projects with a total maximum capacity of energy receiving devices of 490.85 MW are planned for technological connection from 2025.

    Issues of support for the fishing industry were considered. In particular, in order to restore coastal fisheries, as part of the implementation of the instructions of the Prime Minister Mikhail Mishustin, the restoration of the Magadan sea fishing port continues through the implementation of the project “Magadan Sea Logistics Center”.

    The agenda included issues of improving the quality of tourist services. This year, the opening of the first stage of the tourist center on Zavyalova Island is expected. The boutique hotel “Territory” has been built. The balneological resort “Talaya” is getting ready to open. The construction of a four-star hotel has begun. The construction of a sea tourist center continues.

    Yuri Trutnev drew the attention of those present to the introduction of new measures to support investors. The State Duma adopted in the first reading a bill on the creation of a priority development area in the region. “We hope that the result of creating a priority development area will be the development of shipbuilding and ship repair, logistics, tourism, and servicing of mining equipment,” the Deputy Prime Minister noted.

    On the instructions of Russian President Vladimir Putin, the implementation of the Magadan master plan continues. “We still have a lot of work ahead of us to implement the master plans approved by the Russian President. The amounts of funds that are planned to be invested in the construction of new social infrastructure, engineering infrastructure, have never been invested in the Far East. These are really very large amounts of funds. We must ensure thorough implementation of the plans. Ensure that all the money comes to the right place, that all the projects are completed,” emphasized Yuri Trutnev.

    The implementation of the Magadan master plan began in 2019. Within the framework of the master plan, 24 objects were commissioned. The most significant of them was the FOK “Presidential”. Since 2023, the master plan has been implemented within the framework of the long-term comprehensive development plan approved by the order of the Government of Russia. During this time, five objects have been commissioned. The largest of them is the airport terminal complex of Magadan airport, it began operating in December 2024. At the end of the year, a building of the polytechnic college, which had stood unfinished in the city center for more than 30 years, was also opened. An engineering school was commissioned. The Okhotsky Briz boarding house for the elderly and disabled began operating. A cultural development center was opened. A building of the martial arts school was erected with extra-budgetary funds. The improvement of the left bank of the Dukcha River has been completed, a children’s playground is being equipped in the Dukcha Park. This year, the fourth stage of Mayak Park is planned to be commissioned – a cultural and social center and a fountain.

    In 2025, four facilities are planned to be commissioned within the framework of the infrastructure menu, three of which are being built using the Far Eastern concession mechanism, including a multidisciplinary rehabilitation center for 50 people. According to the head of the region, Sergei Nosov, the work will continue in all sectors. “There can be no trifles here. The tasks have been set. The result of this meeting were very specific instructions on the issues that were voiced by people directly working on this land. The solution of the tasks set will allow us to improve the work, indicators, including revenues to the regional budget,” he noted.

    “There is a lot of work. Some of the issues are related to the work of federal ministries. We just need to solve the problems together with the region. I can only say one thing. We have no right to work carelessly. I would like to emphasize that the region is working purposefully, honestly and trying to achieve results,” Yuri Trutnev summed up the meeting.

    On the same day, the Deputy Prime Minister familiarized himself with the implementation of investment projects and visited a number of sites. In particular, he arrived at the military training center at SVGU, where he familiarized himself with the presentation of UAVs manufactured within the framework of the Patriotic priority development area, inspected the construction of a marine tourist center in Nagaev Bay, inspected a recreational complex on Zavyalova Island, visited a shooting sports site under construction in the Staraya Vesyolaya microdistrict, and talked with the management of the Rynda cultural and exhibition center, an independent art venue created to develop the artistic environment of the city and the region.

    Yuri Trutnev also met with Natalia Sivakova, who became the winner of the “Everything for Victory” nomination of the seventh public and business award “Star of the Far East”. The award was given to the project of the school of unmanned aerial vehicles based on the OGUP “Aviation of Kolyma”, within the framework of which not only military personnel are trained, but also drones are assembled.

    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: Financial News: Exports and Imports Decline Moderately in Q1

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Exports in the first quarter of 2025 decreased compared to the same period last year due to lower world prices for oil and coal, a reduction in oil production, and the termination of gas transit to the EU. Demand for imports decreased in the context of an increase in the recycling fee and higher rates in the economy.

    At the same time, the value of imports decreased less than exports. As a result, the current account surplus decreased in the first quarter of 2025 compared to the same period last year.

    Read more in the quarterly issue of the information and analytical commentary “Balance of Payments of the Russian Federation”.

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

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

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23561

    MIL OSI Russia News –

  • MIL-OSI Russia: Dmitry Patrushev: In 2024, the Government allocated 64 billion rubles for the development of forestry

    Translartion. Region: Russians Fedetion –

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

    Dmitry Patrushev spoke at a meeting dedicated to the main results of the work of the forestry sector of the Russian Federation in 2024 and the tasks for 2025

    April 17, 2025

    Dmitry Patrushev spoke at a meeting dedicated to the main results of the work of the forestry sector of the Russian Federation in 2024 and the tasks for 2025

    April 17, 2025

    Meeting dedicated to the main results of the forestry work of the Russian Federation in 2024 and tasks for 2025

    April 17, 2025

    Meeting dedicated to the main results of the forestry work of the Russian Federation in 2024 and tasks for 2025

    April 17, 2025

    Previous news Next news

    Dmitry Patrushev spoke at a meeting dedicated to the main results of the work of the forestry sector of the Russian Federation in 2024 and the tasks for 2025

    Deputy Prime Minister Dmitry Patrushev spoke at a meeting dedicated to the main results of the work of the forestry sector of the Russian Federation in 2024 and the tasks for 2025. It was held at the site of the National Center “Russia”.

    “Russia accounts for a fifth of the world’s forest reserves. Thanks to this, our country makes a major contribution to ensuring global environmental well-being. For several years now, more forests have been appearing in Russia than are being lost. This is facilitated by the measures implemented by the Federal Forestry Agency, attracting businesses. In 2024, forest restoration was one and a half times greater than the area of felled and dead trees. We must continue to adhere to the given vector. The amount of funds allocated by the Government for the development of forestry in 2024 amounted to 64 billion rubles,” Dmitry Patrushev reported.

    The Deputy Prime Minister emphasized that, on the instructions of the President of Russia, forest users in the Northwestern Federal District were partially exempted from paying rent for 2023, which also provided businesses with the necessary support. Separate measures are also provided for wood processors.

    “The forestry complex is a solid base for the relevant industry, a significant component of the economy of most regions. Therefore, it is very important that in 2024 the systematic recovery of the industry after the introduction of sanctions continued. The rise was largely facilitated by previously adopted support measures. According to the results of last year, timber harvesting increased by more than 6 million cubic meters. We expect that in 2025 the positive dynamics will continue and harvesting volumes will exceed 200 million cubic meters,” added Dmitry Patrushev.

    During the implementation of the national project “Ecology”, the total area of new forest plantations reached almost 8 million hectares. Forest restoration was also included in the new national project “Ecological Well-Being”. The Government has allocated more than 16 billion rubles for the implementation of relevant measures until 2030.

    Special attention was paid to fighting forest fires at the meeting. Dmitry Patrushev drew attention to the need for regions to eliminate at least 80% of fires within the first 24 hours after detection. The Deputy Prime Minister emphasized that the key to effective work is to direct adequate forces and resources to extinguishing fires.

    To strengthen interdepartmental coordination, an all-Russian headquarters dedicated to the passage of the fire season was held in March of this year.

    In 2025, the Government has allocated almost 20 billion rubles to fight forest fires, which is significantly more than last year. More than 5 billion of the total amount is allocated to expand the system of regional air bases in the most fire-prone regions and strengthen their material and technical base. In January, a new forest fire center began operating in the Far East. Its work will facilitate more rapid extinguishing of complex fires typical for this district.

    Speaking about the strategic directions of forestry development, Dmitry Patrushev reported that in accordance with the instruction of the President of Russia, the efficiency of the forestry industry continues to be improved. First of all, this concerns the issues of decriminalization and the fight against illegal logging and transportation of timber. The Deputy Prime Minister also noted the need to improve the efficiency of forest patrolling, including through the introduction of remote methods and unmanned aerial systems. As part of a separate national project, the industry will receive almost 1.5 thousand drones.

    Since January 1, 2025, the federal forestry information system has been launched, which allows real-time data on raw material routes, volumes and species composition. Dmitry Patrushev emphasized that the legalization of forestry has significantly increased budget revenues. Last year alone, the volume of funds exceeded 80 billion rubles. According to him, these funds should also be directed to the industry. For example, this year, almost 3.5 billion rubles have been allocated to increase the salaries of industry specialists. And a total of 24 billion rubles are planned to be directed by 2030.

    In conclusion, Dmitry Patrushev added that the key tasks of the forestry complex are united in the corresponding strategy, which is being updated this year. In terms of forestry, according to him, it is necessary to pay attention to advanced forest restoration, reducing the area of fires, digitalization and improving the quality of forest accounting. A special emphasis should be placed on establishing a fair price for the use of forest resources.

    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: Dmitry Chernyshenko: This year, more than 40.5 thousand holiday camps should host about 6 million schoolchildren

    Translartion. Region: Russians Fedetion –

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

    Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025

    April 17, 2025

    Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025

    April 17, 2025

    Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025

    April 17, 2025

    Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025. Minister of Education Sergey Kravtsov

    April 17, 2025

    Previous news Next news

    Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025

    Deputy Prime Minister Dmitry Chernyshenko held a meeting dedicated to the organization of summer children’s recreation in 2025. The meeting was attended by Minister of Education Sergei Kravtsov, Deputy Chairperson of the State Duma Anna Kuznetsova, First Deputy Chairperson of the Federation Council Committee on Federal Structure, Regional Policy, Local Government and Northern Affairs Galina Karelova, representatives of relevant federal departments and organizations, as well as heads of regions.

     

    Dmitry Chernyshenko emphasized that the organization of summer children’s recreation is one of the priority areas of the national project “Youth and Children” and requires special attention to issues of quality and safety.

     

    “President Vladimir Vladimirovich Putin said that special attention should be paid to the quality and safety of children’s recreation. To do this, we must implement comprehensive measures in these areas. The task is very large-scale. This year, more than 40.5 thousand camps should accept about 6 million schoolchildren. In the Year of the Defender of the Fatherland, we must take care of the recreation of all children, and especially the children of our heroes – participants in the special military operation. I ask you to keep this issue under constant control. Patriotic shifts dedicated to the 80th anniversary of the Great Victory must be held in all federal children’s centers. It is extremely important that our current heroes – participants of the SVO – tell the story of glorious victories,” said Dmitry Chernyshenko.

     

    The Deputy Prime Minister added that last year, approximately 165 thousand children of SVO participants spent their holidays in children’s camps.

     

    During the meeting, it was also noted that a federal law had come into force, obliging regions to establish quotas for disabled children and children with limited health capabilities in state and municipal camps. Rospotrebnadzor updated its guidelines for children’s nutrition.

     

    Dmitry Chernyshenko noted that, on the instructions of the President, this year information and analytical panels will be introduced that will help monitor the progress of the health campaign.

     

    “This is a single digital platform where key data will be concentrated: camp occupancy, fulfillment of quotas for children with disabilities, compliance with safety standards, financial accounting, and others. I ask the Ministry of Education to launch this tool across the country as early as June 1,” he added.

     

    Dmitry Chernyshenko emphasized that the upcoming summer season is rich in anniversary events – the 100th anniversary of Artek, the 40th anniversary of the All-Russian Children’s Center Smena and the 65th anniversary of the All-Russian Children’s Center Orlyonok, and noted the special role of these centers in forming the correct attitude to history and spiritual and moral values among young people.

     

    The Deputy Prime Minister expressed gratitude to all participants in the preparation for the summer season, including the State Duma deputies and personally its Chairman Vyacheslav Volodin, as well as the Chairman of the Federation Council Valentina Matviyenko.

     

    As a result, instructions were given aimed at further improving the quality, safety and accessibility of children’s summer recreation, including the launch of a camp monitoring system and collecting feedback.

     

    “In general, the education system is ready for the summer health campaign. It is important to make every effort to ensure that children’s recreation this year is organized efficiently and safely. The federal law “On the Basic Guarantees of Children’s Rights in the Russian Federation” has been amended to require websites and educational programs in children’s camps. They came into force on April 1. By summer, each camp must have its own website, developed taking into account our approximate structure and containing all the necessary information. All subjects have been sent methodological recommendations on the development of educational programs, containing event scenarios,” the Minister of Education said.

     

    Sergei Kravtsov noted that the ministry is holding district seminars for directors of children’s camps and representatives of regional resource centers, where current issues of preparation for the summer are explained.

     

    The Minister of Education reported that the federal infrastructure modernization program is being implemented. He drew the attention of regional representatives to the importance of concluding contracts and starting work within the program, and also instructed them to take measures to return previously repurposed organizations to ownership.

     

    Sergei Kravtsov pointed out that in the Year of the Defender of the Fatherland, special attention should be paid to events dedicated to the 80th anniversary of the Victory in the Great Patriotic War, and corresponding thematic days should be held in each camp.

     

    Deputy Minister of Transport Alexey Shilo noted that, in accordance with the Government Resolution, since March the cost of travel on long-distance trains for all children aged 10 to 18 has been half the cost of an adult ticket. Since March 5, more than 1.1 million tickets have been issued. In addition to federal benefits, carriers and the Russian Railways holding company offer bonus programs and promotions. This is the year-round tariff plan “Big Family”, which provides a 15% discount on travel in compartment cars for families with three or more children.

     

    Chairman of the Board of the Movement of the First, Hero of Russia Artur Orlov emphasized that for the specialized shifts, the Movement of the First, together with the scientific and pedagogical community and federal children’s centers, has developed 19 programs in various areas of activity. The content of the shift programs includes events dedicated to the 80th anniversary of the Victory in the Great Patriotic War, the Year of the Defender of the Fatherland, events that allow you to get acquainted with the mission, values, and flagship projects of the Movement of the First.

     

    Representatives of the Ministry of Education and Science, the Ministry of Health, the Ministry of Emergency Situations, the Ministry of Internal Affairs, the Prosecutor General’s Office, Rospotrebnadzor, Rosmolodezh, the International Children’s Center “Artek” and the “Movement of the First”, the heads of the Republic of Mari El, the Republic of Crimea, Krasnodar Krai and others also spoke during the meeting.

    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 Security: Chinese National Sentenced for Taking $95,000 from Elder Fraud Victim

    Source: Office of United States Attorneys

    ST. LOUIS – U.S. District Judge John A. Ross on Thursday sentenced a man from China who took $95,000 in cash from a 79-year-old Missouri fraud victim to 21 months in prison.

    Judge Ross also ordered Dongyi Guo, 28, to repay the money.

    Guo was part of a conspiracy that targeted elderly victims. Members of the conspiracy began contacting the victim in March of 2024. In phone calls and electronic messages, they claimed to represent her financial institutions and/or the Social Security Office and falsely claimed that her financial accounts had been compromised. They told her that she needed to pay to prevent her money from being stolen, and that a Federal Deposit Insurance Corporation (FDIC) employee would pick up the money.

    Guo flew from New York City to Chicago and then rented a car to drive to the woman’s home. On March 4, 2024, he picked up $40,000 in cash. He took another $35,000 in cash the next day, and $20,000 on March 6. Guo’s co-conspirators continued to pressure the victim into providing more money. Guo was arrested on March 7 while trying to pick up $15,000 more.

    In a letter to the court, a daughter of the victim said her mother died seven months after Guo took her money, and that the crime “unquestionably contributed” to her death. After clicking on a link that said, “You’ve been hacked. Call (this number) for assistance,” her mother was tricked and shamed into withdrawing cash and placing it in shoeboxes that she them turned over to Guo. The scammers claimed Guo would “keep her money secure while this matter was resolved.” She responded by to the crime by refusing medication, food and exercise and declining to attend church. She was left “mentally and physically broken, alone, and wanting to die.”

    Guo pleaded guilty in U.S. District Court in St. Louis in November to one count of conspiracy to commit wire fraud.

    The Knox County Sheriff’s Office and the FBI investigated the case. Assistant U.S. Attorney Derek Wiseman prosecuted the case.

    If you or someone you know is age 60 or older and has experienced financial fraud, contact the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This Justice Department hotline, managed by the Office for Victims of Crime, can identify appropriate reporting agencies, provide information to callers to assist them in reporting and provide resources and referrals. Reporting frauds can increase the likelihood of recovering losses. The hotline is open Monday through Friday from 10:00 a.m. to 6:00 p.m. ET. English, Spanish, and other languages are available. The Federal Trade Commission also provides a hotline at 877-FTC-HELP and a website at www.ftccomplaintassistant.gov for consumer complaints.

    MIL Security OSI –

  • MIL-OSI: WISeKey Releases 2024 Audited Financial Results and Outlines its 2025 Vision for Post Quantum Technology Convergence

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Releases 2024 Audited Financial Results and Outlines its 2025 Vision for Post Quantum Technology Convergence

    Schedules Conference Call and Webcast for Tuesday, April 22 at 10:00 am ET (4:00 pm CET)

    Geneva, Switzerland – April 17, 2025 – Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or “the Company”), a global leader in cybersecurity, digital identity, and IoT technologies, today announced its audited financial results for the year ended December 31, 2024, and shared its strategic vision for 2025, a year expected to be defined by the convergence of foundational technologies and the emergence of Sovereign AI.

    Carlos Moreira, Founder and CEO of WISeKey, commented: “2024 has been a pivotal year for WISeKey. We ended the year with a very strong balance sheet, strategic technological milestones, and a clear roadmap to take advantage of new opportunities ahead. From launching 17 secure satellites in partnership with SpaceX and further advancing negotiations on our semiconductor personalization center strategy, to scaling our blockchain platforms and developing post-quantum chips, we have created a solid foundation across every layer of digital trust infrastructure.

    We started 2025 on a very strong note and have now entered what I define as the ‘Year of WISeKey Convergence.’ This is more than a strategy, it is a paradigm shift. We are bringing together four foundational pillars: semiconductors, satellites, blockchain, and digital identity, into unified and interoperable ecosystems. This convergence allows us to offer end-to-end solutions where each component reinforces the other, enabling exponential innovation and resilience.

    For instance, our post-quantum secure chips, developed by our semiconductor subsidiary SEALSQ Corp (Nasdaq: LAES), are now being embedded into WISeSat satellites to create a secure foundation for a decentralized IoT infrastructure. Blockchain and identity platforms like SEALCOIN and WISeID are being deployed to power autonomous, tamper-proof transactions between machines, satellites, and users. Combining this with our partnership with the Hedera distributed ledger, brings transparency and immutability to these transactions. Additionally, our work with the Swiss Army is proceeding with the testing of a secure smartphone and secure communications with our WISeSat Satellites.

    This convergence approach positions WISeKey at the intersection of some of the most critical transformations of our time, such as quantum-resilient security, space-based connectivity, and the decentralized economy. We are not just adapting to the digital future, we are building it. For WISeKey, 2025 is expected to be a year of execution and scale, where our integrated business units aim to deliver tangible impact.”

    FY 2024 HIGHLIGHTS

    • $90.6 million cash balance (as of December 31, 2024) alongside a much cleaner balance sheet.
    • $11.9 million FY 2024 revenue, down from $30.1 million in FY 2023, reflects an expected decrease as a result of a transitional year with semiconductors customers gradually shifting to our next-generation quantum-resistant solutions and delayed building inventory until the release alongside the impact of the excess inventory accumulation by customers in 2023.
    • $7.0 million investments in R&D for the development of new projects and technologies, including SEALSQ’s post-quantum chip, SEALCOIN, and our WISeSat next generation satellites.
    • First engineering samples of our new quantum resistant secure microcontroller delivered in Q4 2024, in line with our semiconductors’ R&D plan initiated in 2022. We are on target to make our QVault-TPM, the next generation of secure microcontrollers built by SEALSQ on our new Secure RISC-V CPU, available on the market in Q4 2025.
    • Signed a landmark agreement with the Swiss Army to co-develop advanced cybersecurity and space-based capabilities. The first new generation WISeSat satellite under this initiative was launched in January 2025.
    • $115 million pipeline of secured and pending business opportunities over the period from 2026 to 2028 as of April 15, 2025.

    LOOKING AHEAD TO 2025

    Strong Financial Foundation to Support Strategic Growth

    WISeKey’s 2024 year-end solid cash position in excess of $90 million (predominantly secured via the over $80 million capital raised during 2024 by SEALSQ), alongside the availability of any additional financing should it be required, and its much cleaner balance sheet, place the Company in a very strong position to invest in high-growth areas such as post-quantum cybersecurity, next-generation semiconductors, satellite infrastructure, and blockchain-based ecosystems.

    Despite certain sector-wide headwinds, the Company’s overall outlook remains robust with a pipeline of secured and pending business opportunities exceeding $115 million for the period from 2026 to 2028, supported by growing public sector and defense partnerships.

    WISeKey anticipates strong growth in 2025, propelled by SEALSQ’s quantum-resistant technology developments and expanding IoT security demand. This growth is expected to be driven by the integration of chip revenue from new sources, an expansion in chip personalization services, additional revenue generated by WISeSat, and the consolidated revenue from our planned investments.

    In our semiconductors vertical, SEALSQ has been the main revenue contributor in 2024 and in prior years. We anticipate that our new Quantum-Resistant chips will be available on the market in Q4 2025. WISeKey foresees generating substantial returns from the full-scale commercial deployment of this quantum resistant chip starting in 2026.

    WISeKey has therefore taken several initiatives to develop new revenue streams and strengthen net results.

    These initiatives include:

    • Quantix Edges: Semiconductor Personalization & Design Center in Spain

    WISeKey and SEALSQ jointly, together with OdinS and TProtege, two Spanish companies with extensive experience in R&D&I (Research & Development & Innovation) worldwide and in the design and manufacturing of IoT devices and solutions, plan to establish in the Region of Murcia a “Center of Excellence in Cybersecurity and Microchips” under the financial umbrella of the Microelectronics and Semiconductors Plan (PERTE CHIP) initiated by Spain.   The project called Quantix Edges is in the final stages of the approval process by SETT, the Spanish government’s entity responsible for funding under the PERTE budgets.

    • Consolidated revenue from acquisition opportunities

    The potential IC’ALPS acquisition, if completed, would bolster SEALSQ’s Application-Specific Integrated Circuit (ASIC) development, and further strengthen WISeKey’s portfolio of products.

    • WISeSat’s new generation satellites

    Six more launches are planned during 2025 and 2026, with the next one currently scheduled for June 2025.

    • SEALCOIN’s TIoT commercial launch

    Following on from the successful Proof of Concept carried out in Q1 2025, SEALCOIN is working to identify partners to perform other PoCs and further demonstrate its readiness for industrialization of its TIoT solution.

    • Quantum as a Service

    In 2025, WISeKey advanced its commitment to quantum computing by investing in ColibriTD, a pioneering quantum technology company, aiming to integrate ColibriTD’s Quantum-as-a-Service (QaaS) platform into its Quantum Roadmap.

    • Scaled Up Global Footprint

    WISeKey continues to strategically expand its global presence, secure key partnerships with renowned distributors and sales representatives in crucial markets. These alliances have strengthened WISeKey’s market position while fueling growth by leveraging each partner’s expertise and established networks.

    KEY DEVELOPMENTS BY SUBSIDIARY

    SEALSQ: Leadership in IoT and Post-Quantum Cryptography Era

    SEALSQ advanced the Company’s mission to secure the connected world by focusing on post-quantum cryptography (PQC) and IoT security. Through its QUASAR platform, SEALSQ developed quantum-resistant technologies to protect data against future quantum threats, aligning with global standards like those from NIST. SEALSQ’s future strategy is built around four key priorities:

    1. Commercial Launch of Post-Quantum Chips

    • Commercial launch of two new post-quantum semiconductors, targeting IoT, PC, Tablets, and various industrial applications including medical, military and automotive sectors.
    • Expansion of chip fabrication partnerships to increase output for enterprise and government security solutions.
    • SEALSQ has set an ambitious five-year target to capture 20% of the Trusted Platform Module (TPM) market, a goal supported by strong market engagement. By the end of 2024, SEALSQ had secured over 60 qualified leads and one Design-IN for its TPM products, which are slated for commercial launch in 2025.
    • Developing Quantum resistant ASIC (custom design secure chips) for specific large client needs.

    2. Executing Targeted Acquisitions, Investments and Joint Ventures

    • Advanced and exclusive negotiations to acquire 100% of IC’ALPS; expected to be finalized in 2025.
    • As part of its global expansion strategy, SEALSQ is in final stage negotiations with Spanish authorities to establish an Outsourced Semiconductor Personalization and Test Center (OSPTC) in Spain. SEALSQ is exploring the development of similar OSPTCs in India, the United States, and the Middle East and Africa (MEA).
    • Planned continuing investment in startups engaged in quantum computing and AI initiatives as part of the SEALQUANTUM Initiative.

    3. R&D and Strategic Investments in Post-Quantum Security

    • SEALSQ is investing in the final development, qualification, certification (Common Criteria EAL5+ and FIPS 140-3 Level 3) process and the Industrialization (Wafer Test, Final Test, Packaging, Key Injection) of its Quantum-Resistant TPM 2.0 chip with a commercial launch target date set for Q4 2025. We are in discussions with over 60 interested potential customers, including major electronics manufacturers.
    • Scaling the first TPM PQC chip in broader ASIC offer for addressing the Medical, Defense, and IoT market segments.
    • First deployment of SEALSQ’s Quantum Resistant IoT chips on the WISeSat picosatellite constellation, enhancing secure connectivity in remote regions.

    4. Expanding Trust Services

    • Scaling managed PKI solutions for Matter IoT and enterprise security.
    • Expanding SSL/TLS and GSMA certificate offerings to reinforce global digital trust ecosystems.
    • Pushing adoption of INeS PKI Post quantum Cryptography latest features.

    WISeSat: Expanding Secure Space Capabilities

    WISeKey advanced its WISeSat.Space project, deploying low-earth-orbit picosatellites to provide secure IoT connectivity for remote applications. The Company continued to invest in this innovative satellite network, aiming to enhance global coverage for IoT ecosystems. With further deployments planned for 2025, WISeSat.Space is poised to address growing market demand for secure, satellite-based communication solutions, supporting critical infrastructure and underserved regions.

    Strategic Partnership with Swiss Armed Forces in the Space Sector
    In 2024, the WISeSat.Space division not only reinforced its strategic partnership with the Swiss Armed Forces in the space sector through the initiation of new projects, but it also formalized agreements with RUAG, the strategic integrator for the Swiss Armed Forces, for a national defence project focused on device-to-device communications.

    European Low Earth Orbit Satellite Constellation
    To date, WISeSat.Space has launched 17 mini-satellites with Space X into orbit through a strategic investment and partnership with FOSSA Systems, aimed at expanding its portfolio of space technology assets. Over the next 36 months, WISeSat.Space plans to deploy 88 next-generation satellites, following the January 2025 launch from California, which should significantly enhance global IoT connectivity and environmental monitoring capabilities, supporting applications such as climate change analysis, disaster response, and precision agriculture.

    Pioneering Blockchain and Cryptocurrency Transactions from Space
    In 2024, we took steps to launch a groundbreaking mission that harnesses WISeKey’s advanced security solutions in conjunction with the Hedera network to pioneer the exchange of SEALCOIN from space. Successfully tested in Q1 2025, this initiative marked the first-ever demonstration of secure digital cryptocurrency transactions conducted from orbit and established a proof-of-concept redefining boundaries of blockchain integration, a new era of space-based digital economies. Through this innovative endeavour, we reaffirmed our commitment to leading the development of digital currencies in an expanding technological landscape.

    Blockchain Ecosystem: SEALCOIN and WISe.ART

    SEALCOIN, WISeKey’s transactional IoT platform, made significant progress toward deploying decentralized digital identity solutions, leveraging blockchain to enable secure Web 3.0 transactions using our WISelD platform to incorporate Distributed Identity capabilities. With a development timeline set for key milestones in 2025, SEALCOIN aims to deliver scalable solutions for secure, trust-based interactions across digital networks, enhancing user control over identity and data.

    WISe.ART advanced its blockchain-based ecosystem for digital art and NFTs, integrating Web 3.0 technologies to ensure secure authentication and tokenization, capitalizing on the digital collectibles market. The WISe.ART platform has been developed to serve galleries, museums, and collectors, backed by WISeKey’s root-of-trust and blockchain compatible certificates of authenticity.

    WISeID: Empowering Private Digital Identity

    WISeID, WISeKey’s flagship digital identity platform, introduced biometric authentication, self-sovereign identity (SSI), and post-quantum cryptographic protocols, making it one of the world’s most secure digital identity systems.

    Complementing this, during 2024 WISeKey announced the ongoing development and planned launch of the SEALPhone, an ultra-secure smartphone designed with a privacy-by-design architecture. Currently in testing mode with several strategic clients, SEALPhone integrates WISeID and SEALCOIN, enabling secure communication, identity protection, and digital asset storage on a single hardware platform.

    FILING OF 2024 ANNUAL REPORT ON FORM 20-F

    WISeKey filed its Condensed Consolidated Financial Statements in the Form 20-F for the full year period ended December 31, 2024, with the U.S. Securities and Exchange Commission on April 17, 2025. The Form 20-F can be accessed by visiting the Company’s website at www.wisekey.com.
    In addition, the Company’s stockholders may receive a hard copy of the Form 20-F, which includes complete audited financial statements, free of charge by contacting its Investor Relations Representative at lcati@equityny.com or +1 212 836-9611.

    CONFERENCE CALL

    The Company will host a conference call to review its results on Tuesday, April 22, 2025, at 10:00 am ET (4:00 pm CET). To join, please use the following dial-in numbers:

    • Toll-Free Dial-In Number: 877-445-9755
    • International Dial-In Number: 201-493-6744

    The webcast of the call can be accessed through the Investor Relations section of WISeKey’s website at www.wisekey.com. An archived version of the call will also be made available.

    ADDITIONAL FINANCIAL & OPERATIONAL DATA

    Consolidated Statements of Comprehensive Income/(Loss) [as reported]

      12 months ended December 31,
    USD’000, except earnings per share 2024   2023   2022
               
    Net sales 11,875   30,918   23,814
    Cost of sales (7,104)   (15,754)   (13,588)
    Depreciation of production assets (478)   (420)   (132)
    Gross profit 4,293   14,744   10,094
               
    Other operating income 184   167   2,073
    Research & development expenses (7,026)   (4,398)   (3,862)
    Selling & marketing expenses (8,550)   (6,523)   (7,275)
    General & administrative expenses (16,324)   (17,290)   (11,466)
    Total operating expenses (31,716)   (28,044)   (20,530)
    Operating loss (27,423)   (13,300)   (10,436)
               
    Non-operating income 1,629   2,374   3,937
    Debt conversion expense (32)   (562)   (827)
    Interest and amortization of debt discount (1,013)   (624)   (168)
    Non-operating expenses (2,018)   (3,107)   (5,551)
    Loss before income tax expense (28,857)   (15,219)   (13,045)
               
    Income tax income / (expense) (3,086)   (230)   3,238
    Loss from continuing operations, net (31,943)   (15,449)   (9,807)
               
    Discontinued operations:          
    Net sales from discontinued operations –   –   1,805
    Cost of sales from discontinued operations –   –   (978)
    Total operating and non-operating expenses from discontinued operations –   –   (5,274)
    Income tax recovery from discontinued operations –   –   25
    Loss on disposal of a business, net of tax on disposal –   –   (15,026)
    Income / (loss) on discontinued operations –   –   (19,448)
               
    Net loss (31,943)   (15,449)   (29,255)
               
    Net loss attributable to noncontrolling interests (18,497)   (89)   (1,780)
    Net loss attributable to WISeKey International
    Holding Ltd    		 (13,446)   (15,360)   (27,475)
               
    Earnings per Class A Share (USD)          
    Earnings per Class A Share from continuing operations          
    Basic (0.92)   (0.50)   (0.44)
    Diluted (0.92)   (0.50)   (0.44)
    Earnings per Class A Share from discontinued operations          
    Basic –   –   (0.87)
    Diluted –   –   (0.87)
               
    Earning per Class A Share attributable to WISeKey International Holding Ltd          
    Basic (0.39)   (0.51)   (1.22)
    Diluted (0.39)   (0.51)   (1.22)
               
    Earnings per Class B Share (USD)          
    Earnings per Class B Share from continuing operations          
    Basic (9.17)   (5.01)   (4.36)
    Diluted (9.17)   (5.01)   (4.36)
    Earnings per Class B Share from discontinued operations          
    Basic –   –   (8.65)
    Diluted –   –   (8.65)
               
    Earning per Class B Share attributable to WISeKey International Holding Ltd          
    Basic (3.86)   (5.06)   (12.22)
    Diluted (3.86)   (5.06)   (12.22)
               
    Other comprehensive income / (loss), net of tax:          
    Foreign currency translation adjustments 287   (842)   (1,434)
    Reclassifications out of the OCI arising during period –   –   1,156
    Defined benefit pension plans:          
    Net gain (loss) arising during period (1,206)   (1,151)   2,934
    Other comprehensive income / (loss) (919)   (1,993)   2,656
    Comprehensive income / (loss) (32,862)   (17,442)   (26,599)
               
    Other comprehensive income / (loss) attributable to noncontrolling interests (28)   (99)   (964)
    Other comprehensive income / (loss) attributable to WISeKey International Holding Ltd (891)   (1,894)   3,620
               
    Comprehensive income / (loss) attributable to noncontrolling interests (18,525)   (188)   (2,744)
    Comprehensive income / (loss) attributable
    to WISeKey International Holding Ltd    		 (14,337)   (17,254)   (23,855)

    The notes are an integral part of our consolidated financial statements.

    Consolidated Balance Sheets [as reported]

      As at December 31,   As at December 31,
    USD’000 2024   2023
           
    ASSETS      
    Current assets      
    Cash and cash equivalents 90,600   15,311
    Accounts receivable, net of allowance for credit losses 4,285   5,471
    Notes receivable, current 13   63
    Inventories 1,418   5,230
    Prepaid expenses 1,364   1,290
    Government assistance 2,247   1,718
    Other current assets 573   1,008
    Total current assets 100,500   30,091
           
    Noncurrent assets      
    Notes receivable, noncurrent 32   –
    Deferred income tax assets –   3,077
    Deferred tax credits 250   15
    Property, plant and equipment net of accumulated depreciation 3,275   3,392
    Intangible assets, net of accumulated amortization 96   96
    Operating lease right-of-use assets 1,502   2,052
    Goodwill 8,317   8,317
    Equity securities, at cost 455   486
    Other noncurrent assets 261   275
    Total noncurrent assets 14,188   17,710
    TOTAL ASSETS 114,688   47,801
           
    LIABILITIES      
    Current Liabilities      
    Accounts payable 13,496   12,863
    Notes payable 5,900   4,085
    Indebtedness to related parties, current 78   79
    Convertible note payable, current 9   190
    Deferred revenue, current 93   217
    Current portion of obligations under operating lease liabilities 607   638
    Income tax payable 2   4
    Other current liabilities 1,135   832
    Total current liabilities 21,320   18,908
           
    Noncurrent liabilities      
    Bonds, mortgages and other long-term debt 102   1,820
    Convertible note payable, noncurrent –   1,519
    Deferred revenue, noncurrent 21   24
    Indebtedness to related parties, noncurrent 1,387   –
    Operating lease liabilities, noncurrent 853   1,443
    Employee benefit plan obligation 3,877   3,001
    Other noncurrent liabilities 4   2
    Total noncurrent liabilities 6,244   7,809
    TOTAL LIABILITIES 27,564   26,717
    Commitments and contingent liabilities      
           
    SHAREHOLDERS’ EQUITY      
    Common stock – Class A 16   400
               Par value – CHF 0.01 and CHF 0.25      
    Authorized – 2,000,880 and 2,000,880 shares      
    Issued and outstanding – 1,600,880 and 1,600,880 shares      
    Common stock – Class B 359   8,170
    Par value – CHF 0.10 and CHF 2.50      
    Authorized – 6,194,267 and 6,194,267      
    Issued – 3,365,560 and 3,076,150      
    Outstanding – 3,309,052 and 2,954,097      
    Share subscription in progress 1   –
    Treasury stock, at cost (56,508 and 122,053 shares held) (502)   (691)
    Additional paid-in capital 316,431   289,448
    Accumulated other comprehensive income / (loss) 3,150   4,041
    Accumulated deficit (294,407)   (280,961)
    Total shareholders’ equity attributable to WISeKey shareholders 25,048   20,407
    Noncontrolling interests in consolidated subsidiaries 62,076   677
    Total shareholders’ equity 87,124   21,084
    TOTAL LIABILITIES AND EQUITY 114,688   47,801

    The notes are an integral part of our consolidated financial statements.

    Our Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures as of the end of the period covered by the 2024 annual report, identified a material weakness in our internal control over financial reporting relating to an ineffective review control that was identified by the auditor.  As a result, an adjustment was made to the additional paid-in capital and noncontrolling interest in the equity accounts by the Company prior to the issuance of the financial statements ended December 31, 2024, which did not impact upon the total equity. See Note 3 to the consolidated financial statements.

    About WISeKey
    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer

    Forward-Looking Statements

    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or similar words. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include WISeKey’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; the growth of the post-quantum cryptography market; the adoption by developers and customers of quantum computing; the successful launch our post-quantum chips; our ability to sell post-quantum cryptography products to consumers; our ability to develop NIST-approved algorithms for our post-quantum semiconductor technologies; our ability to expand our chip personalization services; our ability to derive consolidated revenue from our planned investments; growth in our cybersecurity certificate and managed PKI services and acquisitions; our ability to expand our Semiconductor personalization and design facilities and semiconductor production; our ability to grow our U.S., Middle East and Asia-Pacific market presence; our ability to expand our Trust services; our development and tokenization of WISe.ART; our expansion of the WISeSat.Space project and the deployment of our next generation satellites; our proposed expansion into EMEA, North America and Asia; the deployment and commercialization of SEALCOIN and TIoT; the ongoing development and adopted of WISeID; and the risks discussed in WISeKey’s filings with the SEC. Risks and uncertainties are further described in reports filed by WISeKey with the SEC.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI: Waterstone Financial Announces Director Retirement

    Source: GlobeNewswire (MIL-OSI)

    WAUWATOSA, Wis., April 17, 2025 (GLOBE NEWSWIRE) — Waterstone Financial, Inc. (the “Company”), announced today that Michael Hansen has decided to retire as a Director of the Company and its wholly-owned subsidiary WaterStone Bank SSB.

    Mr. Hansen has been a director of the Company since 2003.  Mr. Hansen serves as a member and the chair of the Company’s Audit Committee and as a member of the Company’s Board Executive Committee and Nominating and Corporate Governance Committee.  Mr. Hansen will remain a Director of the Company and WaterStone Bank, and continue to serve as chair of the Audit Committee and as a member of the Board Executive Committee and Nominating and Corporate Governance Committee until a successor has been elected to the Company’s Board of Directors.

    During this period of transition, Mr. Hansen will be selling shares of Company stock as part of his broader retirement and estate planning objectives.

    “I thank Mike for his 22 years of service and valued leadership for our company,” said Patrick Lawton, Chairman of the Company. “Mike has been vital member of our board and a strong leader of the Audit Committee and we are grateful for Mike’s commitment to continue to serve the Company as we work to identify a successor.”

    About Waterstone Financial, Inc:

    Waterstone Financial, Inc. is the savings and loan holding company for WaterStone Bank, a community-focused financial institution established in 1921. WaterStone Bank offers a comprehensive suite of personal and business banking products and operates 14 branch locations across southeastern Wisconsin. WaterStone Bank is also the parent company of WaterStone Mortgage Corporation, a national lender licensed in 48 states.

    With a long-standing commitment to innovation, integrity, and community service, Waterstone Financial, Inc. supports the financial and homeownership goals of customers nationwide.

    For more information about WaterStone Bank, visit wsbonline.com.

    Contact:
    Mark R. Gerke
    Chief Financial Officer
    414.459.4012
    markgerke@wsbonline.com

    The MIL Network –

  • MIL-OSI USA: Congressman Dan Goldman, Borough President Antonio Reynoso, Organized Labor, Energy Advocates Slam Trump Administration’s Stop Work Order on New York’s Second Largest Offshore Wind Project

    Source: US Congressman Dan Goldman (NY-10)

    Trump Administration Illegally Ordered Construction to Cease at Empire Wind 1, Threatens Offshore Wind Projects Nationwide 

     

    Empire Wind 1 Development Employs 1,500 Union Workers, Will Power 500,000 NYC Homes Upon Completion 

     

    See Pictures and Video from Event Here

    New York, NY – Congressman Dan Goldman (NY-10) was today joined by Brooklyn Borough President Antonio Reynoso, organized labor, and industrial workforce and energy advocates for a press conference slamming the Trump administration’s unlawful stop work order for the fully-permitted Empire Wind 1 wind farm — the second-largest wind farm project in New York State — and urging the administration to reverse course. 

    The project employs 1,500 union workers and was set to deliver clean, renewable energy to over half a million New York City homes, provide over $100 million in supply chain economic investments across New York, and make significant progress toward the city’s climate and energy goals. 

    “Trump’s decision to halt the Empire Wind 1 project, and all offshore wind development, is a betrayal of his own ‘America first’ agenda,” Congressman Dan Goldman said. “If executed, this directive would kill thousands of union jobs, reduce American manufacturing, increase energy prices, weaken our national security, and hand the clean energy future to China. In the name of his assault on climate initiatives, the President is actually undermining his own agenda and reducing American energy independence and dominance. I urge my Republican colleagues to work together to reverse this ill-advised decision.”

    Brooklyn Borough President Antonio Reynoso said, “Donald Trump has made it clear that he is hellbent on keeping our air polluted and putting Americans out of work. The President claims to be all about creating blue collar jobs, but here he is erasing over 1,000 union jobs in what remains of Brooklyn’s working waterfront. With Empire Wind, Brooklyn is leading the nation’s transition toward renewable, reliable, and affordable energy. We won’t back down just because Trump says so. I’m proud to stand with Rep. Goldman and so many other partners today to reject this reckless decision.”

    State Senator Andrew Gounardes said, “The Trump Administration’s decision to revoke approval for Empire Wind 1 is a slap in the face to all New Yorkers. Empire Wind 1 isn’t just about power generation—it’s about powering our economy with good-paying union jobs, apprenticeships for our young workers, and billions in economic investment in neighborhoods like Sunset Park and Red Hook. This project was fully permitted. Shovels were already in the ground, creating jobs. We cannot sit by quietly while this administration blocks the path toward affordable energy, resilient infrastructure, and jobs that support families.”

    Councilmember Alexa Avilés said, “I am profoundly concerned by the decision to stop the ongoing offshore wind project in New York. Our community has fought for years to ensure that Sunset Park would be part of solutions to reduce carbon emissions, build healthier and green energy, and provide new local union jobs. It is undeniable that we must build offshore wind to address our energy needs while recognizing the climate crisis. Thank you to all the community partners, city agencies, unions and Equinor for their commitment to our community and offshore wind. We stand in deep support.”

    Glen Siegel and Michael Stamatis, Managing Partners of SSBMT L.P., Operators of the South Brooklyn Marine Terminal, said, “We are deeply disappointed by the Trump Administration’s abrupt and shortsighted decision to halt all construction of Equinor’s Empire Wind project in federal waters. This decision undermines years of planning, investment, and collaboration between public and private partners working together to realize New York’s clean energy goals and create good-paying union jobs right here in Brooklyn. Equinor’s Empire Wind project is not only essential to our state’s energy future—it is the catalyst for revitalizing SBMT as a national hub for offshore wind staging, assembly, and operations. This project represents a once-in-a-generation opportunity to transform New York’s working waterfront, drive economic development, and deliver sustainable, renewable energy to millions of residents.”

    Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO, and Climate Jobs New York Director, said, “Hundreds of workers were prepared to start jobs on the offshore construction of Empire Wind 1 in just a few weeks, but now, their financial futures have been pulled out from under them. Thousands more jobs supporting the offshore wind industry – on the port at South Brooklyn Marine Terminal, assembly and staging at Arthur Kill Terminal on Staten Island, and component manufacturing in Albany and across the country, to name a few – are also all now at risk. Our union members and our communities are counting on clean energy jobs. We need to protect them.”

    Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, and Climate Jobs New York Director, said, “This announcement is a blow to New York’s hardworking tradesmen and tradeswomen who are counting on this project to create high-quality, long-lasting jobs, and to everyone in New York who is struggling to afford their electric bills right now. Empire Wind was going to bolster the middle class, make our air cleaner, and bring much-needed local power to our energy grid to lower costs. This stop work order on a shovel-ready energy project is a massive step backward for union workers and our quest to build more domestic energy, and it sends a chilling effect to any developers looking to build energy projects here in America.”

    Christopher Erikson, Business Representative for Local Union No. 3 IBEW, said, “The nearly 29,000 members of Local Union No. 3, IBEW are disappointed with the federal government’s decision to pause construction on the Empire Wind 1 project. This action is detrimental to my members, other Building Trades workers, Sunset Park, and the surrounding communities who were counting on clean energy to be added to the grid to help power our neighborhoods. Local 3, IBEW members have been preparing for this project for years in anticipation of the union wages and benefits that would support them and their families. We stand in solidarity with Congressman Goldman, Equinor, and the team behind Empire Wind to express our dismay, disappointment, and anger at this shortsighted decision by the Trump administration. We hope this is only a pause, so that we can get to work on securing a clean energy future in our city and a healthier planet for ourselves and our families.”

    Jesse Solomon, Executive Director of the Southwest Brooklyn Industrial Corporation, said, “For the past year, SBIDC has been working directly with small businesses in Brooklyn to help them access offshore wind contracts and prepare for a generational economic opportunity. Empire Wind 1 is central to that progress. This is one of the most important climate and economic development projects New York has ever seen – we stand with Rep. Goldman in urging the federal government to reinstate this project.” – Jesse Solomon, Executive Director, Southwest Brooklyn Industrial Development Corporation.” 

    Chris Ward, Interim President and CEO at Waterfront Alliance said, “Clean, affordable, and reliable power for 500,000 homes. 1,000 jobs. A billion-dollar port. Yesterday, the Trump administration decided that New Yorkers do not need these. With the scratch of a pen, an incredible $2 billion investment to make the world better was halted. Waterfront Alliance is confident that wiser minds will prevail. We will offer every support to Equinor, the State and City of New York, and our partners in offshore wind and port development to see that this decision is reversed,”

    Esther Rosario, Executive Director of Climate Jobs New York, said, “If we stall these projects, we don’t just jeopardize our energy grid’s stability—we put workers’ livelihoods at risk. These aren’t abstract ideas — they’re real paychecks that were promised to working people in our unions and our communities. Local businesses, from bodegas to gas stations, also benefit when these projects are underway. We urge our federal government to reverse their decision to halt this project and our leaders in New York to stay the course and invest in and protect the union jobs that are rebuilding our middle class and building our future.”

    Julie Tighe, President of the New York League of Conservation Voters, said, “The federal government is placing American energy independence and abundance, thousands of union jobs, and clean air at risk with the reckless stop work order for Empire Wind. This project is fully permitted and will provide energy for half a million homes – there are no other ways to get that amount of energy into New York’s grid in the near term when electric demand is growing. We are proud to stand with Governor Hochul, Congressman Goldman, our friends in labor, and the environmental movement to fight this attempt to derail our clean energy future and hurt New York’s nation-leading progress to develop offshore wind power.”

    Allyson Samuell, Sierra Club’s Senior Campaign Organizer in New York said, “Offshore wind creates good jobs with good salaries and doesn’t pollute our air and water. This is the future for our energy system. The downstate New York region is incredibly dense, we don’t have a lot of space for large scale energy infrastructure on land. Offshore wind projects, like Empire Wind 1, are the ideal solution for providing electricity to the entire New York City metro-area. This project is essential to helping downstate New York meet the rising demand for electricity and ensure reliable energy for families. For New Yorkers, this is local power that is generated near where it’s needed, bringing us closer to energy independence.”

    Spurred by clean energy subsidies in President Biden and House Democrats’ Inflation Reduction Act, the Empire Wind 1 offshore wind project would be the first of its kind to plug directly into the New York City power grid, ultimately powering over 500,000 homes. The South Brooklyn Marine Terminal would also be the largest offshore wind Operations and Maintenance hub as well as staging area in the United States.  

    Congressman Goldman has championed the Empire Wind 1 project and offshore wind energy as a national security and economic imperative since taking office. 

    Last June, Congressman Goldman joined elected officials to break ground on the South Brooklyn Marine Terminal, which would serve as the largest offshore wind staging and maintenance port in the nation and connect offshore wind power to over 500,000 homes across New York City. 
    Last Spring, Congressman Goldman led a walking tour of the South Brooklyn Marine Terminal to tout the role that Inflation Reduction Act (IRA) tax credits played in making Brooklyn the future offshore wind capital of America.  
    Congressman Dan Goldman is a member of the Congressional Offshore Wind Caucus, which pushes for policies to improve offshore wind technology, increase investment in the offshore wind workforce, and position the United States as a global leader in the industry. 

     ###

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Kemp Announces Five Rural Workforce Housing Awards from the OneGeorgia Authority

    Source: US State of Georgia

    ATLANTA – Governor Brian P. Kemp announced today the next round of grant recipients for the Rural Workforce Housing Initiative, totaling more than $11 million in infrastructure development and supporting 542 housing units in five communities. All award recipients demonstrated strong collaboration and partnership with local real estate developers.

    “Georgia is experiencing rapid growth in communities across the state, and with that growth comes a need to provide infrastructure for those filling the record-breaking number of jobs to live and work,” said Governor Brian Kemp. “This latest round of grants will ensure the people of Cairo, Hagan, Douglas, Augusta, and Swainsboro can live where they work and promote prosperity for these communities.”

    First announced in the governor’s 2023 State of the State Address, the Rural Workforce Housing Initiative continues to be a catalyst for the development of critically needed workforce housing in communities across the state. The Georgia General Assembly approved $35.7 million to start the initiative in the Amended Fiscal Year 2023 budget, a further $50 million in the Amended Fiscal Year 2024 budget, an additional $6 million for Fiscal Year 2025, and an additional $28 million in the Amended Fiscal Year 2024. 

    “Housing Georgia’s talented workforce is crucial for the state’s continued economic growth and prosperity,” said Department of Community Affairs Commissioner Christopher Nunn. “The OneGeorgia Authority remains committed to helping communities with a vision implement their intentional workforce housing solutions.”

    In addition to meeting OneGeorgia Authority requirements, applicants leveraged other funding sources to demonstrate community commitment to increasing access to affordable housing for workers. The use of funds is subject to all applicable state laws and regulations, as well as to the policies and requirements of the OneGeorgia Authority and the Department of Community Affairs. OneGeorgia funds must be utilized within the timeframe specified in the grant/loan award documentation, which is generally two years from the date of the award.

    Awards

    City of Cairo

    The City of Cairo was awarded $2,500.000 in OneGeorgia grant funds to construct road, water, and sewer infrastructure improvements to construct a total of 180 new, single-family housing units on 45 acres of land. The phased construction will begin with 60 single-family homes. The City of Cairo is contributing $227,078 to the total construction cost. The city has already approved the zoning requirements, and clearing has already started at the site. 

    City of Hagan

    The City of Hagan received a grant of $1,074,711 to improve street, drainage, water, and sewer infrastructure to develop 29 single-family homes on six acres of land. The city is contributing $62,241 towards the project.

    Douglas Coffee County Industrial Authority

    The Douglas Coffee County Industrial Authority was awarded $2,500,000 in OneGeorgia funds to construct street, drainage, water, and sewer infrastructure that will allow for the phased construction of 67 new housing units. The development is on a 36-acre tract.  The first phase will allow for the construction of 40 single-family homes. 

    The Industrial Authority will contribute $83,750 towards the project, and the City of Douglas will contribute $288,813. The developer and Satilla EMC have also committed to funds to the total program cost.

    Augusta Economic Development Authority

    The Augusta Economic Development Authority sought $2,500,000 in OneGeorgia funds to construct road, water, and sewer infrastructure improvements. The grant will support the development of 55 new, single-family housing units within the Southern Oaks Phase I development on 11.5 acres.  Subsequent phases will allow for 104 units and some future commercial development.

    Augusta Utilities is contributing $110,000, and the local development partner is also contributing to the total project cost. All required zoning for the housing development has already been approved.

    City of Swainsboro

    The City of Swainsboro received $2,500,000 in OneGeorgia funds for water, sewer, drainage, and road infrastructure improvements for development in the 23-acre Rolling Oaks Subdivision.  The initial phase will see 24 units developed, and additional phases will allow for a total of 47 homes in the subdivision.

    The city is contributing $102,000 towards the project, along with financial commitments from the developer.

    MIL OSI USA News –

  • MIL-OSI Security: Philadelphia Woman Sentenced to Five Years in Prison For Defrauding Her Employer of More Than $250,000 and the U.S. Government of $23,000

    Source: Office of United States Attorneys

    PHILADELPHIA – United States Attorney David Metcalf announced that Kimberly Lawson, 44, of Philadelphia, Pennsylvania, was sentenced today by United States District Court Judge Michael M. Baylson to 60 months in prison, five years of supervised release, and $244,343 in restitution, for the unauthorized use of her employer’s identity to embezzle from him and his company and her fraudulent applications to the Small Business Administration (SBA) to obtain Economic Injury Disaster Loans (“EIDL”).

    In September 2023, Lawson was charged by indictment with one count of bank fraud, one count of aggravated identity theft, and four counts of wire fraud, and pleaded guilty to all charges against her in September 2024.

    The fraud loss attributed to Lawson for the workplace embezzlement is $250,817.80, and for the fraud against the government $23,000, for a total fraud loss amount of $273,817.80.

    In March 2018, Lawson began working as the office manager of an area electrical contracting company, where her responsibilities included tracking employee hours, invoices, and vendor payments, and writing checks to vendors from the company’s bank account. She was also responsible for reconciling bank statements, reviewing images of checks, and confirming the checks cleared. Lawson did not have signature authority on the checks but was authorized to use her employer’s signature stamp to sign the checks he authorized.

    As detailed in court filings and admitted to by the defendant, between 2018 and 2020, Lawson used her knowledge and access to divert significant amounts of the company’s money to external accounts that she controlled, through hundreds of fraudulent vendor and employee payments, unauthorized payroll transactions, and unauthorized electronic transfers. To avoid discovery of her fraudulent activities, Lawson intentionally mislabeled entries in the company’s accounting software, making them look authentic by recording them as legitimate payables.

    In addition, the defendant attempted to steal money from her employer’s 401k account, submitting two separate loan requests totaling more than $17,000, but her employer learned of and was able to cancel the requests before any funds were disbursed.

    In addition to the workplace embezzlement, Lawson fraudulently sought $253,874 in EIDLs from the SBA, filed in 15 separate applications in different names including her own. Only the applications that she submitted in her husband’s and his sister’s names were approved for funding, with each receiving $8,500 and $14,500, respectively, deposited into bank accounts controlled by Lawson. Among numerous false statements made in the applications, Lawson falsely represented that she had a retail business, that her husband had a construction business, and her sister-in-law had a cleaning business.

    In 2012, Lawson was convicted in the Eastern District of Pennsylvania of defrauding a different employer of more than $293,000 and received a sentence of 21 months’ imprisonment.

    “Kimberly Lawson’s greed is her downfall,” said U.S. Attorney Metcalf. “This is now the second time that she’s being sentenced for stealing hundreds of thousands of dollars from an employer — and this go-round, she decided to defraud the federal government, as well. Perhaps today’s longer prison term will prove more impactful than her first. Either way, we won’t rest until criminals like this get the message that we will find and punish financial fraud.”

    “Through a multitude of deceptions and manipulations, Ms. Lawson stole from her employer and from the United States in the pursuit of her own personal gain,” said Assistant Special Agent in Charge Dave Carter of FBI Philadelphia. “This sentencing serves as a reminder that those who exploit their positions for financial profits will be held accountable. I want to thank our FBI personnel and our partners at the U.S. Attorney’s Office for their diligent efforts in bringing this defendant to justice.”

    The case was investigated by the FBI and is being prosecuted by Assistant United States Attorney Anita Eve.

    MIL Security OSI –

  • MIL-OSI: Subskribe Unveils DealDesk AI: Revolutionizing Deal Management with Conversational Intelligence

    Source: GlobeNewswire (MIL-OSI)

    New Platform Brings Conversational AI to CPQ, Setting New Standards for Speed and Accuracy in Deal Management

    SAN RAMON, April 17, 2025 (GLOBE NEWSWIRE) — Subskribe, the leader in modern quote-to-revenue solutions, today announced the launch of DealDesk AI, an intelligent assistant that revolutionizes how businesses create, manage, and close deals. This innovative platform brings AI-powered intelligence to every stage of the deal process, eliminating friction and accelerating time-to-close while enabling teams to focus on strategic deal optimization.

    As businesses face increasing pressure to streamline sales processes and maximize efficiency, DealDesk AI addresses these challenges by providing conversational quote creation, AI-powered summarization, and an intelligent deal assistant that works around the clock.

    “Sales representatives shouldn’t need to become CPQ experts to create accurate quotes,” said Prakash Raina, Co-founder of Subskribe. “DealDesk AI fundamentally changes this paradigm by bringing conversational intelligence to quote creation and deal management. Now teams can simply describe what they need in conversational language and our AI handles the complexity behind the scenes, allowing sales and finance professionals to work smarter and close deals faster than ever before.”

    Key Features of DealDesk AI

    • Conversational Quote Creation: Users can simply describe what they need in natural language, and DealDesk AI automatically creates perfectly structured quotes in seconds.
    • AI-Powered Guided Selling: Step-by-step guidance ensures sales teams structure complex deals optimally, maximizing value while maintaining compliance with pricing policies.
    • Slack Integration: Seamless integration with Slack enables teams to create and approve quotes without leaving their familiar communication environment.
    • AI-Powered Summarization: Automatic summaries of quotes, subscriptions, and invoices with critical deal terms highlighted for faster approvals and decision-making.
    • 24/7 Deal Guidance: Sales teams gain instant access to crucial product and pricing information through a conversational assistant, available any time they need it.
    • Intelligent Sales Rooms: Personalized deal environments that engage buyers while providing real-time insights on their behavior and content engagement.

    “DealDesk AI has the potential to introduce a new, streamlined way of working for our team. We’re particularly excited about how it could automate processes and integrate with our existing tools, like Slack. The demo showcased how deals could come together seamlessly with approval processes flowing naturally — ultimately freeing up our deal desk team to focus on strategic initiatives instead of administrative tasks. An intelligent solution like this could be exactly what the industry has been waiting for,” said Jason Weinreb, Director, Sales Operations at Chainguard.

    Subskribe continues to gain strong recognition in the Quote-to-Revenue market. Rated as the #1 Momentum Leader by G2, Subskribe has also maintained its position as a G2 High Performer in all three categories – CPQ, Subscription Billing, and Revenue Management – for several consecutive quarters. The company’s industry leadership extends beyond G2, with Subskribe named a Notable Vendor in Forrester’s Billing Solutions Landscape, ranked among Top 50 Billing Solutions and Top 25 CPQ Solutions by MGI Research, and featured in IDC’s Worldwide ProductScape for CPQ Applications. DealDesk AI builds upon this success, extending Subskribe’s capabilities with cutting-edge conversational intelligence.

    The introduction of Deal Desk AI represents a significant advancement in Subskribe’s mission to streamline the quote-to-revenue process. By removing technical barriers for sales representatives while maintaining administrative control for deal desk professionals, the solution balances flexibility with governance.

    “After seeing DealDesk AI in action, I’m confident it will fundamentally transform our quote creation process. What’s currently a complex, time-consuming workflow will become effortless with this technology. The ability for our sales team to create quotes through simple conversations, streamline approvals, and free our deal desk specialists to become strategic advisors rather than administrative processors is exactly what we need. It’s like having a deal expert available 24/7 for every rep on the team. DealDesk AI has the potential to be the most innovative addition to our quoting process in years,” said Erik Eklund, VP, Enterprise Applications, Neostella.

    “As companies increasingly look for alternatives to complex, costly CPQ implementations, DealDesk AI represents the future of intelligent deal management,” added Durga Pandey, CEO at Subskribe. “Our platform eliminates the need for technical expertise while providing enterprise-grade capabilities that scale with your business.”

    DealDesk AI is now in beta and available immediately for early adopter customers, with general availability planned for summer 2025.

    About Subskribe

    Subskribe is revolutionizing the CPQ and billing space with modern, AI-powered solutions designed for today’s subscription businesses. Trusted by Zip, Beamery, Chainguard, EvenUp, and other top companies, Subskribe helps businesses streamline their quote-to-revenue processes, eliminate friction, and accelerate growth. Subskribe’s platform includes CPQ, Billing, Revenue Recognition, and Advanced Analytics solutions designed to help customers with what matters most – growing their revenue.

    The MIL Network –

  • MIL-OSI USA: Markey, Evans Announce Legislation to Support Victims of Gun Violence

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Bill would help the 100,000 new U.S. victims & survivors each year
    better navigate & use available resources
    Washington (April 17, 2025) – Senator Edward J. Markey (D-Mass.) along with Congressman Dwight Evans (PA-03), today announced the introduction of the Resources for Victims of Gun Violence Act of 2025, legislation that would help all victims of gun violence – from survivors to their loved ones, coworkers, and classmates – identify and access the resources available to them to help meet medical, legal, financial, and other needs.
    The bill would establish a federal interagency advisory council to help victims navigate and use these resources, streamlining what can be a complex process in a nation of gun violence survivors. Every year in America, about 100,000 people survive gun-related injuries. An estimated 10,000,000 people in the U.S. have been shot and injured in their lifetimes.
    “For communities across the country, gun violence is an all too familiar tragedy. It is impossible to imagine the trauma that gun violence causes to victims, survivors, and their loved ones,”?said Senator Markey. “I am proud to join Congressman Evans in introducing the Resources for Victims of Gun Violence Act, which would establish an advisory council to gather information about programs to aid victims of gun violence and their families. These efforts can help heal the harm that gun violence inflicts on our society.
    “While gun violence is down in Philadelphia and many other communities, it’s still far too common – more than 1,000 people were injured by gunfire just in Philadelphia in 2024. So the list of victims and survivors who need well-coordinated help continues to grow, and our bill would make a difference for many of them,” said Congressman Evans. “I appreciate Senator Markey’s leadership in the Senate on this bill that would help so many victims and survivors across America.”
    The bill text is available HERE.
    The legislation is cosponsored in the Senate by Senators Tammy Duckworth (D-Ill.), Richard Durbin (D-Ill.), John Fetterman (D-Penn.), Martin Heinrich (D-N.M.), Amy Klobuchar (D-Minn.), Chris Murphy (D-Conn.), Alex Padilla (D-Calif.), Jacky Rosen (D-Nev.), Jeanne Shaheen (D-N.H.), Chris Van Hollen (D-Md.) and Elizabeth Warren (D-Mass.).
    The full list of House cosponsors is available here. 

    MIL OSI USA News –

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Unleashes American Commercial Fishing in the Pacific

    US Senate News:

    Source: The White House
    UNLEASHING OPPORTUNITY IN THE PACIFIC: Today, President Donald J. Trump signed a proclamation to unleash American commercial fishing in the Pacific Ocean—a key component of the America First Fishing Policy.
    The proclamation opens the Pacific Remote Islands Marine National Monument (PRIMNM) to commercial fishing, boosting the economy of American Samoa.
    It allows U.S.-flagged vessels to fish commercially within 50 to 200 nautical miles of the PRIMNM’s boundaries.
    EMPOWERING AMERICAN COMMERCIAL FISHERMEN: President Trump believes that removing unnecessary restrictions on American fishermen will strengthen the U.S. economy, support local communities, and restore fairness to an industry disadvantaged by overregulation and foreign competition.
    The PRIMNM was first established by President Bush in 2009 and then expanded by President Obama, closing off over 400,000 square miles of the U.S. Exclusive Economic Zone in the Pacific.
    The ban on commercial fishing within the PRIMNM did little to guard fish populations against overfishing, as tuna and other pelagic species are migratory in nature and do not permanently reside within the PRIMNM.
    As a result of the prohibitions on commercial fishing, American fishing fleets have lost access to nearly half of the United States’ Exclusive Economic Zone in the Pacific Islands.
    This has driven American fishermen to fish further offshore in international waters to compete against poorly regulated and highly subsidized foreign fleets, most notably from China.
    By supporting honest American fishermen, we combat the rampant illegal, unreported, and unregulated fishing by foreign fleets.

    This disadvantages United States commercial fishermen and is detrimental for United States territories like American Samoa, whose private sector economy is dependent on the fishing industry.
    American Samoa is home to the only Buy American-compliant tuna processing facility for U.S. military rations and school lunch programs.
    This cannery is the largest employer on the island, providing about 5,000 jobs.  In fact, the cannery accounts for 99.5% of American Samoa’s exports and 84% of the private employment in the territory.

    ADVANCING U.S. ECONOMIC INTERESTS: President Trump’s actions to revitalize commercial fishing are part of his broader strategy to unleash the full potential of the American economy by prioritizing deregulation and cutting red tape.
    President Trump launched a 10-to-1 deregulation initiative, ensuring every new Federal rule is justified by clear benefits and accompanied by much larger deregulatory measures.
    President Trump established the National Energy Dominance Council to cut red tape, enhance private sector investments, advance innovation, and streamline the permitting process across all forms of American energy.
    President Trump established the “Department of Government Efficiency” to examine how to streamline the operations of the Federal Government, eliminate unnecessary programs and wasteful spending, and reduce bureaucratic inefficiency.
    President Trump has already reduced unnecessarily large governmental entities and terminated numerous harmful Biden expansions of governmental authority.

    MIL OSI USA News –

  • MIL-OSI: Westport Announces Annual General and Special Meeting and Timing of Q1 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 17, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or the “Company”) announces that the Company will release Q1 2025 financial results on Tuesday, May 13, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, May 14, 2025.

    Time: 10:00 a.m. ET (7:00 a.m. PT)
    Call Link: https://register-conf.media-server.com/register/BI73bcac200e5f4652873668cf803d72ed
    Webcast: https://investors.wfsinc.com

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com.

    Annual General and Special Meeting

    Westport will host its 2025 Annual General and Special Meeting (the “Meeting”) virtually on May 15, 2025 at 10:00 a.m. PT (1:00 p.m. ET).

    To streamline the virtual meeting process, Westport encourages shareholders to vote in advance of the Meeting using the voting instruction form or the form of proxy which has been shared with shareholders with the Meeting materials. Further instructions on voting and accessing the meeting are contained in the Management Information Circular under “Section 1: Voting” – upon receipt, please review these materials carefully.

    Registered Shareholders and duly appointed proxyholders can attend the meeting online at https://meetnow.global/MD2JR55 to participate, vote, or submit questions during the meeting’s live webcast.

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Investor Inquiries:
    Investor Relations
    T: +1 604-718-2046
    E: invest@wfsinc.com

    The MIL Network –

  • MIL-OSI: Oak Valley Community Bank Announces Promotions

    Source: GlobeNewswire (MIL-OSI)

    OAKDALE, Calif., April 17, 2025 (GLOBE NEWSWIRE) — Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced the promotions of Greg Mulder to Vice President, Commercial Banking Officer and John Westberg to Assistant Vice President, Commercial Banking Officer. Mulder is based out of the Escalon Office and Westberg is based in Oakdale.

    Mulder joined the bank nearly 11 years ago and had advanced from Credit Analyst to AVP Commercial Credit Officer prior to this promotion. He’s known for managing some of the bank’s largest and most complex C&I relationships and consistently reflects the bank’s core values through customer service and collaboration. In his new role, Mulder will oversee a significant C&I loan portfolio and continue delivering tailored lending solutions. He is an active member of First Presbyterian Church of Ripon and holds a bachelor’s degree in finance and economics from Dordt University. Mulder lives in Ripon with his wife, Janelle, and their two children. He enjoys outdoor activities, running, sports, and traveling with his family.

    Westberg joined the bank seven years ago, progressing from Credit Analyst to Commercial Credit Officer. He has played key roles in initiatives like the Paycheck Protection Program and regularly contributes across departments. In his new role, Westberg will focus on portfolio management, client growth, and strategic projects. He holds a bachelor’s degree in agriculture from CSU Stanislaus and an MBA in finance from Southeastern Oklahoma State University. Outside of work, he attends Heritage Church in Escalon, farms almonds, plays brass instruments, enjoys golfing, and loves traveling with his family. He lives in Oakdale with his wife, Sarah, and their two children.

    “We’re excited for Greg and John to step into their new roles,” said Gary Stephens, Executive Vice President, Commercial Banking Group. “Their expertise, leadership, and dedication make them invaluable to our team. We’re confident they’ll continue to thrive and contribute to the bank’s success.”

    Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra division, which includes Bridgeport, Mammoth Lakes, and Bishop. The company will open its 19th branch location in Lodi later this year.

    For more information, call 1-866-844-7500 or visit www.ovcb.com.

    Contact: Chris Courtney/Rick McCarty
    Phone: (209) 848-BANK (2265)
      Toll Free (866) 844–7500
      www.ovcb.com 

    The MIL Network –

  • MIL-OSI: Enterprise Bancorp, Inc. Announces First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    LOWELL, Mass., April 17, 2025 (GLOBE NEWSWIRE) — Enterprise Bancorp, Inc. (“Enterprise”) (NASDAQ: EBTC), parent of Enterprise Bank, announced its financial results for the three months ended March 31, 2025. Net income amounted to $10.4 million, or $0.84 per diluted common share, for the three months ended March 31, 2025, compared to $10.7 million, or $0.86 per diluted common share, for the three months ended December 31, 2024 and $8.5 million, or $0.69 per diluted common share, for the three months ended March 31, 2024.

    On December 9, 2024, Enterprise announced its intention to merge with Rockland Trust Company, a wholly owned subsidiary of Independent Bank Corp. (NASDAQ: INDB). The proposed merger is expected to close in the second half of 2025, subject to customary closing conditions, including regulatory approvals. As previously announced, Enterprise shareholders approved of the proposed merger on April 3, 2025. No vote of Independent Bank Corp. shareholders is required.

    Selected financial results at or for the quarter ended March 31, 2025, compared to December 31, 2024, were as follows:

    • The returns on average assets and average equity were 0.87% and 11.45%, respectively.
    • Tax-equivalent net interest margin (non-GAAP) (“net interest margin”) was 3.32%.
    • Total loans amounted to $4.05 billion, an increase of 1.7%.
    • Total customer deposits (non-GAAP) amounted to $4.15 billion, a decrease of 0.9%.
    • Wealth assets under management and administration amounted to $1.51 billion, a decrease of 1.6%.

    Chief Executive Officer Steven Larochelle commented, “As we continue to work toward the upcoming merger with Rockland Trust, I am pleased to announce our team delivered strong results in the first quarter. Loan growth was solid at 1.7% for the quarter and 11% for the last twelve months. Operating results compared to the prior year quarter were positively impacted by net interest income growth of 10% resulting from strong loan growth and an increase in net interest margin.”

    Executive Chairman & Founder George Duncan stated, “Our anticipated merger with Rockland Trust has been well received by our shareholders, customers and communities with shareholders approving the merger on April 3rd. The planning for our integration into Rockland Trust is going well and the anticipated synergies and cultural alignment of our two banks remains attractive.”

    Net Interest Income
    Net interest income for the three months ended March 31, 2025, amounted to $38.7 million, an increase of $3.5 million, or 10%, compared to the three months ended March 31, 2024. The increase was due primarily to an increase in loan interest income of $6.6 million, partially offset by increases in deposit interest expense of $1.0 million and borrowings interest expense of $1.0 million as well as a decrease in income on other interest-earning assets of $637 thousand.

    Net Interest Margin
    Net interest margin for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, amounted to 3.32%, 3.29% and 3.20%, respectively.

    During the first quarter of 2025, the Company sold non-performing loans with a net book value of $956 thousand, resulting in net recoveries of $461 thousand and loan interest income of $486 thousand. The sale of non-performing loans impacted both loan yields and net interest margin favorably by 5 basis points for the quarter ended March 31, 2025.

    Three months ended – March 31, 2025, compared to March 31, 2024

    The increase in net interest margin was due to loan growth and, to a lesser extent, an increase in loan yields, partially offset by increases in the average balance of funding liabilities and funding costs.

    The increase in interest-earning asset yields of 21 basis points was due primarily to loan repricing and originations at higher interest rates, partially offset by an increase in funding costs of 9 basis points driven by higher market rates and increases in certificate of deposits and borrowed funds.

    Provision for Credit Losses
    The provision for credit losses for the three-month periods ended March 31, 2025 and March 31, 2024, are presented below:

        Three months ended   Increase / (Decrease)
    (Dollars in thousands)   March 31,
    2025    		   March 31,
    2024
    Provision for credit losses on loans – collectively evaluated   $                         685     $                         417     $                         268  
    Provision for credit losses on loans – individually evaluated                             (565 )                            1,451                            (2,016 )
    Provision for credit losses on loans                               120                              1,868                            (1,748 )
                 
    Provision for unfunded commitments                               211                            (1,246 )                            1,457  
                 
    Provision for credit losses   $                         331     $                         622     $                       (291 )

    The provision for credit losses on collectively evaluated loans of $685 thousand for the quarter ended March 31, 2025, resulted mainly from loan growth, partially offset by net recoveries, which were primarily from the sale of non-performing loans noted above.

    The decrease in the provision for credit losses of $291 thousand, compared to the prior year quarter, was due primarily to a net decrease in reserves on individually evaluated loans of $2.0 million, partially offset by an increase in reserves for unfunded commitments of $1.5 million.

    The decrease in reserves on individually evaluated loans was due primarily to two commercial relationships that experienced improvement in their collateral valuation compared to the prior year period, while the increase in reserves for unfunded commitments resulted primarily from an increase in off-balance sheet commitments that required a reserve.

    Non-Interest Income
    Non-interest income for the three months ended March 31, 2025, amounted to $5.2 million, a decrease of $307 thousand, or 6%, compared to the three months ended March 31, 2024. The decrease was due primarily to a decrease in gains on equity securities of $766 thousand, partially offset by an increase in wealth management fees of $247 thousand.

    Non-Interest Expense
    Non-interest expense for the three months ended March 31, 2025, amounted to $29.9 million, an increase of $1.0 million, or 4%, compared to the three months ended March 31, 2024. The increase was due primarily to increases in salaries and employee benefits expense of $760 thousand and merger-related expenses of $290 thousand.

    Income Taxes
    The effective tax rate for the three months ended March 31, 2025, amounted to 23.3%, compared to 23.7% for the three months ended March 31, 2024.

    Balance Sheet
    Total assets amounted to $4.90 billion at March 31, 2025, compared to $4.83 billion at December 31, 2024, an increase of 2%.

    Total investment securities at fair value amounted to $603.9 million at March 31, 2025, compared to $593.6 million at December 31, 2024, an increase of 2%. The increase during the three months ended March 31, 2025, was largely attributable to a decrease in unrealized losses on debt securities resulting from decreases in market interest rates during the period, partially offset by principal pay-downs, calls and maturities. Unrealized losses on debt securities amounted to $79.9 million at March 31, 2025, compared to $101.8 million at December 31, 2024, a decrease of 22%.

    Total loans amounted to $4.05 billion at March 31, 2025, compared to $3.98 billion at December 31, 2024, an increase of 2%. The increase during the three months ended March 31, 2025, was due primarily to an increase in commercial real estate loans of $70.2 million.

    Total deposits amounted to $4.30 billion at March 31, 2025, compared to $4.19 billion at December 31, 2024, an increase of 3%. The increase during the three months ended March 31, 2025, was due primarily to an increase in brokered deposits of $150.0 million. Excluding brokered deposits, total deposits decreased $37.0 million during the first quarter of 2025.

    Total borrowed funds amounted to $94.5 million at March 31, 2025, compared to $153.1 million at December 31, 2024, a decrease of 38%. The decrease during the three months ended March 31, 2025, resulted primarily from the increase in brokered deposits during the period.

    Total shareholders’ equity amounted to $385.4 million at March 31, 2025, compared to $360.7 million at December 31, 2024, an increase of 7%. The increase during the three months ended March 31, 2025, was due primarily to a decrease in the accumulated other comprehensive loss of $17.0 million and an increase in retained earnings of $7.3 million.

    Credit Quality

    Selected credit quality metrics at March 31, 2025, compared to December 31, 2024, were as follows:

    • The allowance for credit losses (“ACL”) for loans amounted to $64.0 million, or 1.58% of total loans, compared to $63.5 million, or 1.59% of total loans. The decrease in the ACL for loans to total loan ratio was due primarily to a decrease in reserves on individually evaluated loans.
    • The reserve for unfunded commitments (included in other liabilities) amounted to $4.6 million, compared to $4.4 million. The increase was driven primarily by an increase in off-balance sheet commitments that required a reserve.
    • Non-performing loans amounted to $28.5 million, or 0.70% of total loans, compared to $26.7 million, or 0.67% of total loans.

    Net recoveries for the three months ended March 31, 2025, amounted to $424 thousand, or 0.04% of average total loans, which included $461 thousand in recoveries from the sale of non-performing loans noted above. Net charge-offs for the three months ended March 31, 2024, amounted to $122 thousand, or 0.01% of average total loans.

    Wealth Management
    Wealth assets under management and administration, which are not carried as assets on the Company’s consolidated balance sheets, amounted to $1.51 billion at March 31, 2025, a decrease of $24.7 million, or 2%, compared to December 31, 2024, resulting primarily from a decrease in market values.

    ABOUT ENTERPRISE BANCORP, INC.
    Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank, and has reported 142 consecutive profitable quarters. Enterprise Bank is principally engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities. Through Enterprise Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options, as well as wealth management, and trust services. The Company’s headquarters and Enterprise Bank’s main office are located at 222 Merrimack Street in Lowell, Massachusetts. The Company’s primary market area is the Northern Middlesex, Northern Essex, and Northern Worcester counties of Massachusetts and the Southern Hillsborough and Southern Rockingham counties in New Hampshire. Enterprise Bank has 27 full-service branches located in the Massachusetts communities of Acton, Andover, Billerica (2), Chelmsford (2), Dracut, Fitchburg, Lawrence, Leominster, Lexington, Lowell (2), Methuen, North Andover, Tewksbury (2), Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Londonderry, Nashua (2), Pelham, Salem and Windham.

    FORWARD-LOOKING STATEMENTS
    This earnings release contains statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words “believe,” “expect,” “anticipate,” “intend,” “upcoming,” “estimate,” “assume,” “will,” “should,” “could,” “plan,” and other similar terms or expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Company. These risks, uncertainties, and other factors may cause the actual results, performance, and achievements of the Company to be materially different from the anticipated future results, performance or achievements expressed in, or implied by, the forward-looking statements. Factors that could cause such differences include, but are not limited to, (i) disruption from the proposed merger with Independent; (ii) the risk that the proposed merger with Independent may not be completed in a timely manner or at all; (iii) the occurrence of any event, change, or other circumstances that could give rise to the termination of the proposed merger with Independent; (iv) the failure to obtain necessary regulatory approvals for the proposed merger with Independent; (v) the ability to successfully integrate the combined business; (vi) the possibility that the amount of the costs, fees, expenses, and charges related to the proposed merger with Independent may be greater than anticipated, including as a result of unexpected or unknown factors, events, or liabilities; (vii) the failure of the conditions to the proposed merger with Independent to be satisfied; (viii) reputational risk and the reaction of the parties’ customers to the proposed merger with Independent; (xi) the risk of potential litigation or regulatory action related to the proposed merger with Independent; (x) the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; (xi) potential recession in the United States and our market areas; (xii) the impacts related to or resulting from uncertainty in the banking industry as a whole; (xiii) increased competition for deposits and related changes in deposit customer behavior; (xiv) the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or further reductions in interest rates and a resulting decline in net interest income; (xv) the lingering inflationary pressures, and the risk of the resurgence of elevated levels of inflation, in the United States and our market areas; (xvi) the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; (xvii) increases in unemployment rates in the United States and our market areas; (xviii) adverse changes in customer spending and savings habits; (xix) declines in commercial real estate values and prices; (xx) a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainty regarding United States fiscal debt, deficit and budget matters; (xxi) cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; (xxii) severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of changes in U.S. presidential administrations or Congress, including potential changes in U.S. and international trade and tariff policies and the resulting impact on the Company and its customers; (xxiii) the effect of volatility in the capital markets on our fee income from our wealth management business; (xxiv) competition and market expansion opportunities; (xxv) changes in non-interest expenditures or in the anticipated benefits of such expenditures; (xxvi) changes in tax laws; (xxvii) the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; (xxviii) potential increased costs related to the impacts of climate change; and (xxix) current or future litigation, regulatory examinations or other legal and/or regulatory actions. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. For more information about these factors, please see our reports filed with or furnished to the U.S. Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the SEC, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Any forward-looking statements contained in this earnings release are made as of the date hereof, and we undertake no duty, and specifically disclaim any duty, to update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

    ADDITIONAL INFORMATION AND WHERE TO FIND IT
    This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

    In connection with the proposed transaction between Independent and Enterprise, Independent has filed with the SEC a Registration Statement on Form S-4 (the “Registration Statement”) that includes a proxy statement for a special meeting of Enterprise’s shareholders to approve the proposed transaction and that also constitutes a prospectus for the Independent common stock that will be issued in the proposed transaction, as well as other relevant documents concerning the proposed transaction. INVESTORS AND SHAREHOLDERS OF INDEPENDENT AND ENTERPRISE ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT INDEPENDENT, ENTERPRISE AND THE PROPOSED TRANSACTION. Copies of the Registration Statement and of the proxy statement/prospectus and other filings incorporated by reference therein, as well as other filings containing information about Independent and Enterprise, can be obtained, free of charge, as they become available at the SEC’s website (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Independent Investor Relations, 288 Union Street, Rockland, Massachusetts 02370, telephone (774) 363-9872 or to Enterprise Bancorp, Inc., 222 Merrimack Street, Lowell, MA 01852, Attention: Corporate Secretary, telephone (978) 656-5578.

    ENTERPRISE BANCORP, INC.
    Consolidated Balance Sheets
    (unaudited)
     
    (Dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Assets            
    Cash and cash equivalents:            
    Cash and due from banks   $       52,194     $       42,689     $       41,443  
    Interest-earning deposits with banks             34,543               41,152             106,391  
    Total cash and cash equivalents             86,737               83,841             147,834  
    Investments:            
    Debt securities at fair value (amortized cost of $674,601, $685,766 and $749,561 respectively)           594,691             583,930             643,924  
    Equity securities at fair value               9,242                 9,665                 8,102  
    Total investment securities at fair value           603,933             593,595             652,026  
    Federal Home Loan Bank stock               4,932                 7,093                 2,482  
    Loans held for sale               1,069                    520                    400  
    Loans:            
    Total loans        4,049,642          3,982,898          3,654,322  
    Allowance for credit losses           (64,042 )           (63,498 )           (60,741 )
    Net loans        3,985,600          3,919,400          3,593,581  
    Premises and equipment, net             41,464               42,444               44,671  
    Lease right-of-use asset             23,946               24,126               24,645  
    Accrued interest receivable             21,782               20,553               20,501  
    Deferred income taxes, net             42,338               49,096               47,903  
    Bank-owned life insurance             67,927               67,421               65,878  
    Prepaid income taxes               4,099                 2,583                 5,771  
    Prepaid expenses and other assets             11,006               11,398               12,667  
    Goodwill               5,656                 5,656                 5,656  
    Total assets   $ 4,900,489     $ 4,827,726     $ 4,624,015  
    Liabilities and Shareholders‘ Equity            
    Liabilities            
    Deposits:            
    Customer deposits   $ 4,150,668     $ 4,187,698     $ 4,106,119  
    Brokered deposits           149,975                      —                      —  
    Total deposits        4,300,643          4,187,698          4,106,119  
    Borrowed funds             94,493             153,136               63,246  
    Subordinated debt             59,894               59,815               59,577  
    Lease liability             23,699               23,849               24,303  
    Accrued expenses and other liabilities             29,422               33,425               30,945  
    Accrued interest payable               6,983                 9,055                 6,386  
    Total liabilities        4,515,134          4,466,978          4,290,576  
    Commitments and Contingencies            
    Shareholders‘ Equity            
    Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued                    —                      —                      —  
    Common stock, $0.01 par value per share; 40,000,000 shares authorized; 12,510,019, 12,447,308 and 12,376,562 shares issued and outstanding, respectively.                  125                    124                    124  
    Additional paid-in capital           111,621             111,295             108,246  
    Retained earnings           335,568             328,243             306,943  
    Accumulated other comprehensive loss           (61,959 )           (78,914 )           (81,874 )
    Total shareholders’ equity           385,355             360,748             333,439  
    Total liabilities and shareholders’ equity   $ 4,900,489     $ 4,827,726     $ 4,624,015  
    ENTERPRISE BANCORP, INC.
    Consolidated Statements of Income
    (unaudited)
     
        Three months ended
    (Dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Interest and dividend income:            
    Other interest-earning assets   $               535     $               833     $            1,172
    Investment securities                  3,608                    3,881                    4,034
    Loans and loans held for sale                55,408                  54,528                  48,817
    Total interest and dividend income                59,551                  59,242                  54,023
    Interest expense:            
    Deposits                18,288                  19,488                  17,272
    Borrowed funds                  1,706                       394                       694
    Subordinated debt                     867                       867                       867
    Total interest expense                20,861                  20,749                  18,833
    Net interest income                38,690                  38,493                  35,190
    Provision for credit losses                     331                     (106 )                     622
    Net interest income after provision for credit losses                38,359                  38,599                  34,568
    Non-interest income:            
    Wealth management fees                  2,097                    2,043                    1,850
    Deposit and interchange fees                  2,157                    2,240                    2,069
    Income on bank-owned life insurance, net                     506                       522                       458
    Net gains on sales of loans                       47                         33                         22
    Net (losses) gains on equity securities                   (301 )                     (30 )                     465
    Other income                     682                       808                       631
    Total non-interest income                  5,188                    5,616                    5,495
    Non-interest expense:            
    Salaries and employee benefits                19,936                  19,276                  19,176
    Occupancy and equipment expenses                  2,582                    2,364                    2,459
    Technology and telecommunications expenses                  2,709                    2,687                    2,745
    Advertising and public relations expenses                     752                       609                       743
    Audit, legal and other professional fees                     541                       460                       734
    Deposit insurance premiums                     878                       950                       859
    Supplies and postage expenses                     229                       242                       237
    Merger-related expenses                     290                    1,137                         —
    Other operating expenses                  2,032                    2,117                    1,955
    Total non-interest expense                29,949                  29,842                  28,908
    Income before income taxes                13,598                  14,373                  11,155
    Provision for income taxes                  3,163                    3,646                    2,648
    Net income   $          10,435     $          10,727     $            8,507
                 
    Basic earnings per common share   $              0.84     $              0.86     $              0.69
    Diluted earnings per common share   $              0.84     $              0.86     $              0.69
                 
    Basic weighted average common shares outstanding         12,464,721           12,433,895           12,292,417
    Diluted weighted average common shares outstanding         12,495,458           12,460,063           12,304,203
    ENTERPRISE BANCORP, INC.
    Selected Consolidated Financial Data and Ratios
    (unaudited)
         
        At or for the three months ended
    (Dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Balance Sheet Data                    
    Total cash and cash equivalents   $        86,737     $        83,841     $        88,632     $      199,719     $      147,834  
    Total investment securities at fair value            603,933              593,595              631,975              636,838              652,026  
    Total loans         4,049,642           3,982,898           3,858,940           3,768,649           3,654,322  
    Allowance for credit losses           (64,042 )           (63,498 )           (63,654 )           (61,999 )           (60,741 )
    Total assets         4,900,489           4,827,726           4,742,809           4,773,681           4,624,015  
    Customer deposits         4,150,668           4,187,698           4,189,461           4,248,801           4,106,119  
    Brokered deposits            149,975                       —                       —                       —                       —  
    Borrowed funds              94,493              153,136                59,949                61,785                63,246  
    Subordinated debt              59,894                59,815                59,736                59,657                59,577  
    Total shareholders’ equity            385,355              360,748              368,109              340,441              333,439  
    Total liabilities and shareholders’ equity         4,900,489           4,827,726           4,742,809           4,773,681           4,624,015  
                         
    Wealth Management                    
    Wealth assets under management   $   1,214,050     $   1,230,014     $   1,212,076     $   1,129,147     $   1,105,036  
    Wealth assets under administration   $      297,233     $      305,930     $      302,891     $      267,529     $      268,074  
                         
    Shareholders’ Equity Ratios                    
    Book value per common share   $          30.80     $          28.98     $          29.62     $          27.40     $          26.94  
    Dividends paid per common share   $            0.25     $            0.24     $            0.24     $            0.24     $            0.24  
                         
    Regulatory Capital Ratios                    
    Total capital to risk weighted assets     13.06 %     13.06 %     13.07 %     13.07 %     13.20 %
    Tier 1 capital to risk weighted assets(1)     10.39 %     10.38 %     10.36 %     10.34 %     10.43 %
    Tier 1 capital to average assets     8.98 %     8.94 %     8.68 %     8.76 %     8.85 %
                         
    Credit Quality Data                    
    Non-performing loans   $        28,479     $        26,687     $        25,946     $        17,731     $        18,527  
    Non-performing loans to total loans     0.70 %     0.67 %     0.67 %     0.47 %     0.51 %
    Non-performing assets to total assets     0.58 %     0.55 %     0.55 %     0.37 %     0.40 %
    ACL for loans to total loans     1.58 %     1.59 %     1.65 %     1.65 %     1.66 %
    Net (recoveries) charge-offs   $          (424 )   $             221     $              (7 )   $          (130 )   $             122  
                         
    Income Statement Data                    
    Net interest income   $        38,690     $        38,493     $        38,020     $        36,161     $        35,190  
    Provision for credit losses                   331                  (106 )                1,332                     137                     622  
    Total non-interest income                5,188                  5,616                  6,140                  5,628                  5,495  
    Total non-interest expense              29,949                29,842                29,353                29,029                28,908  
    Income before income taxes              13,598                14,373                13,475                12,623                11,155  
    Provision for income taxes                3,163                  3,646                  3,488                  3,111                  2,648  
    Net income   $        10,435     $        10,727     $          9,987     $          9,512     $          8,507  
                         
    Income Statement Ratios                    
    Diluted earnings per common share   $            0.84     $            0.86     $            0.80     $            0.77     $            0.69  
    Return on average total assets     0.87 %     0.89 %     0.82 %     0.82 %     0.75 %
    Return on average shareholders’ equity     11.45 %     11.82 %     11.20 %     11.55 %     10.47 %
    Net interest margin (tax-equivalent)(2)     3.32 %     3.29 %     3.22 %     3.19 %     3.20 %
    (1) Ratio also represents common equity tier 1 capital to risk weighted assets as of the periods presented.
    (2) Tax-equivalent net interest margin is net interest income adjusted for the tax-equivalent effect associated with tax-exempt loan and investment income, expressed as a percentage of average interest-earning assets.
    ENTERPRISE BANCORP, INC.
    Consolidated Loan and Deposit Data
    (unaudited)
     
    Major classifications of loans at the dates indicated were as follows:
     
    (Dollars in thousands)   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Commercial real estate owner-occupied   $      708,645     $      704,634     $      660,063     $      660,478     $      635,420  
    Commercial real estate non owner-occupied         1,629,394           1,563,201           1,579,827           1,544,386           1,524,174  
    Commercial and industrial            483,165              479,821              415,642              426,976              417,604  
    Commercial construction            664,936              679,969              674,434              622,094              583,711  
    Total commercial loans         3,486,140           3,427,625           3,329,966           3,253,934           3,160,909  
                         
    Residential mortgages            450,456              443,096              424,030              413,323              400,093  
    Home equity loans and lines            105,779              103,858                95,982                93,220                85,144  
    Consumer                7,267                  8,319                  8,962                  8,172                  8,176  
    Total retail loans            563,502              555,273              528,974              514,715              493,413  
    Total loans         4,049,642           3,982,898           3,858,940           3,768,649           3,654,322  
                         
    ACL for loans           (64,042 )           (63,498 )           (63,654 )           (61,999 )           (60,741 )
    Net loans   $   3,985,600     $   3,919,400     $   3,795,286     $   3,706,650     $   3,593,581  
    Deposits are summarized at the periods indicated were as follows:
     
    (Dollars in thousands)   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    Non-interest checking   $     1,028,326   $     1,077,998   $     1,064,424   $     1,041,771   $     1,038,887
    Interest-bearing checking              715,517              699,671              682,050              788,822              730,819
    Savings              284,960              270,367              279,824              294,566              285,090
    Money market           1,437,907           1,454,443           1,488,437           1,504,551           1,469,181
    CDs $250,000 or less              393,890              377,958              375,055              358,149              337,367
    CDs greater than $250,000              290,068              307,261              299,671              260,942              244,775
    Total customer deposits           4,150,668           4,187,698           4,189,461           4,248,801           4,106,119
    Brokered deposits              149,975                       —                       —                       —                       —
     Deposits   $     4,300,643   $     4,187,698   $     4,189,461   $     4,248,801   $     4,106,119
    ENTERPRISE BANCORP, INC.
    Consolidated Average Balance Sheets and Yields (tax-equivalent basis)
    (unaudited)
     
    The following table presents the Company’s average balance sheets, net interest income and average rates for the periods indicated:
     
        Three months ended March 31, 2025   Three months ended December 31, 2024   Three months ended March 31, 2024
    (Dollars in thousands)   Average
    Balance    		   Interest(1)   Average
    Yield(1)    		   Average
    Balance    		   Interest(1)   Average
    Yield(1)    		   Average
    Balance    		   Interest(1)   Average
    Yield(1)
    Assets:                                    
    Other interest-earning assets(2)   $            44,673   $           535   4.86 %   $            68,224   $           833   4.85 %   $            86,078   $         1,172   5.48 %
    Investment securities(3) (tax-equivalent)                689,138               3,705   2.15 %                704,629               3,985   2.26 %                763,692               4,157   2.18 %
    Loans and loans held for sale(4) (tax-equivalent)              4,015,667             55,555   5.60 %              3,911,386             54,673   5.56 %              3,608,157             48,960   5.46 %
    Total interest-earnings assets (tax-equivalent)              4,749,478             59,795   5.10 %              4,684,239             59,491   5.06 %              4,457,927             54,289   4.89 %
    Other assets                  98,003                        101,952                          91,794        
    Total assets   $        4,847,481           $        4,786,191           $        4,549,721        
                                         
    Liabilities and stockholders’ equity:                                    
    Non-interest checking   $        1,034,122                   —       $        1,106,823                   —       $        1,069,145                   —    
    Interest checking, savings and money market              2,405,722             10,332   1.74 %              2,471,854             11,728   1.89 %              2,418,947             11,356   1.89 %
    CDs                686,689               7,121   4.21 %                683,248               7,760   4.52 %                549,097               5,916   4.33 %
    Brokered deposits                  76,647                 835   4.42 %                        —                   —   — %                        —                   —   — %
    Total deposits              4,203,180             18,288   1.68 %              4,261,925             19,488   1.82 %              4,037,189             17,272   1.72 %
    Borrowed funds                154,911               1,706   4.47 %                  37,812                 394   4.15 %                  63,627                 694   4.38 %
    Subordinated debt(5)                  59,847                 867   5.79 %                  59,768                 867   5.80 %                  59,530                 867   5.82 %
    Total funding liabilities              4,417,938             20,861   1.91 %              4,359,505             20,749   1.89 %              4,160,346             18,833   1.82 %
    Other liabilities                  59,976                          65,720                          62,500        
    Total liabilities              4,477,914                      4,425,225                      4,222,846        
    Stockholders’ equity                369,567                        360,966                        326,875        
    Total liabilities and stockholders’ equity   $        4,847,481           $        4,786,191           $        4,549,721        
                                         
    Net interest-rate spread (tax-equivalent)           3.19 %           3.17 %           3.07 %
    Net interest income (tax-equivalent)                 38,934                     38,742                     35,456    
    Net interest margin (tax-equivalent)           3.32 %           3.29 %           3.20 %
    Less tax-equivalent adjustment                     244                         249                         266    
    Net interest income       $       38,690           $       38,493           $       35,190    
    Net interest margin           3.29 %           3.27 %           3.17 %
    (1) Average yields and interest income are presented on a tax-equivalent basis, calculated using a U.S. federal income tax rate of 21% for each period presented, based on tax-equivalent adjustments associated with tax-exempt loans and investments interest income.
    (2) Average other interest-earning assets include interest-earning deposits with banks, federal funds sold and Federal Home Loan Bank stock.
    (3) Average investment securities are presented at average amortized cost.
    (4) Average loans and loans held for sale are presented at average amortized cost and include non-accrual loans.
    (5) Subordinated debt is net of average deferred debt issuance costs.

    Contact Info: Joseph R. Lussier, Executive Vice President, Chief Financial Officer and Treasurer (978) 656-5578

    The MIL Network –

  • MIL-OSI USA: Murray, Kaptur Call on Energy Department to Reverse New Indirect Cost Cap That Will Gut Funding for Cutting-Edge Research

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. — Today, Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and Ranking Member of the Subcommittee on Energy and Water Development, and Congresswoman Marcy Kaptur (D-OH-09), Ranking Member of the House Appropriations Subcommittee on Energy and Water Development, sent a letter to Department of Energy (DOE) Secretary Chris Wright expressing deep concern about how the Department’s recently announced cap on indirect costs for DOE research will jeopardize critical research and innovation—and calling on him to immediately reverse the policy.

    “We write to express our deep concern regarding the Department of Energy’s (DOE) recent decision to impose a cap on indirect cost rates for DOE-funded research. This change threatens to destabilize America’s scientific research infrastructure, delay critical energy innovation, and result in widespread economic harm,” write Murray and Kaptur. “At a time when China is investing billions to catch up to the scientific advancements driven by decades of DOE investments, the U.S. should be accelerating its technological leadership, but this policy does the opposite.”

    The lawmakers note the cap will cut funding essential to conducing cutting-edge DOE research: “This cap represents a sweeping, indiscriminate funding cut that will jeopardize not just projects at universities but also university partners at the national laboratories and in industry. Scientists could be forced to scale back or shutter vital studies; collaboration across sectors may be frozen; and the next generation of clean energy technologies could be delayed or lost entirely.”

    Murray and Kaptur also underscore the implications of DOE’s new policy for the economy, stating: “Beyond its scientific implications, this policy change has serious economic consequences. DOE-funded research supports tens of thousands of jobs—from researchers and engineers to technical staff and support personnel—across all 50 states. In fiscal year 2024 alone, federal energy research investments generated billions in economic activity and helped anchor American competitiveness in global innovation markets. Weakening that support will reverberate through entire regions and industries, putting livelihoods at risk.”

    The lawmakers press Secretary Wright to explain the abrupt new policy change and call on him to reverse it, concluding: “[W]e also ask that you to immediately reverse this shortsighted and harmful new cap, which amounts to nothing short of a disastrous funding cut. DOE’s mission is too important to allow political interference to undercut America’s progress in energy research, climate resilience, and economic development. Let our scientists, engineers, and institutions continue their lifesaving, world-shaping work—uninterrupted.”

    The full letter is available HERE and below:

    April 16, 2025

    The Honorable Christopher Wright
    U.S. Department of Energy
    1000 Independence Ave SW
    Washington, DC 20585

    Dear Secretary Wright:

    We write to express our deep concern regarding the Department of Energy’s (DOE) recent decision to impose a cap on indirect cost rates for DOE-funded research. This change threatens to destabilize America’s scientific research infrastructure, delay critical energy innovation, and result in widespread economic harm. At a time when China is investing billions to catch up to the scientific advancements driven by decades of DOE investments, the U.S. should be accelerating its technological leadership, but this policy does the opposite.

    DOE has long played a crucial role in supporting cutting-edge research in energy, climate science, advanced manufacturing, and national security. By capping indirect cost rates at 15 percent, this new policy undermines the essential support systems that make this research possible—such as the operation and maintenance of research facilities, labs, and technical infrastructure. Research institutions depend on these funds to conduct safe, innovative, and effective science.

    This cap represents a sweeping, indiscriminate funding cut that will jeopardize not just projects at universities but also university partners at the national laboratories and in industry. Scientists could be forced to scale back or shutter vital studies; collaboration across sectors may be frozen; and the next generation of clean energy technologies could be delayed or lost entirely. Even more worrying is the impact on our future science workforce, particularly in energy and critical and emerging technologies, where our nation has long struggled to recruit and train the best talent into roles at the intersection of technology and national security. 

    Beyond its scientific implications, this policy change has serious economic consequences. DOE-funded research supports tens of thousands of jobs—from researchers and engineers to technical staff and support personnel—across all 50 states. In fiscal year 2024 alone, federal energy research investments generated billions in economic activity and helped anchor American competitiveness in global innovation markets. Weakening that support will reverberate through entire regions and industries, putting livelihoods at risk.

    The policy’s abrupt implementation—absent consultation with the research community or Congress—has also introduced confusion and uncertainty into the energy research ecosystem. Programs will be paused, partnerships disrupted, and project leaders left with no clarity about how to proceed. In a moment that demands bold, collaborative leadership to meet America’s energy needs, these actions cause paralysis instead.  In regards to this new policy cap, please provide answers to the following questions:

    1. What will happen to existing awards at universities if they do not meet the new terms and conditions in this policy?
    2. What specific data or analysis did DOE use to determine that a 15% cap on indirect costs is appropriate and sustainable for research institutions?
    3. How does DOE justify this cap given that many universities currently operate with indirect cost rates significantly higher than 15% to cover essential research infrastructure and compliance?
    4. Was there any consultation with academic stakeholders, such as university administrators or research organizations, prior to implementing this policy change?
    5. What impact assessments has DOE conducted to understand how this cap will affect the financial viability of ongoing and future research projects at universities?
    6. Has DOE evaluated how this cap could influence the United States’ position in global research and innovation competitiveness?
    7. What are the long-term implications of this policy on the pipeline of future scientists and researchers trained through university programs?

    Particularly in light of the lack of information justifying this policy we also ask that you to immediately reverse this shortsighted and harmful new cap, which amounts to nothing short of a disastrous funding cut. DOE’s mission is too important to allow political interference to undercut America’s progress in energy research, climate resilience, and economic development. Let our scientists, engineers, and institutions continue their lifesaving, world-shaping work—uninterrupted.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Frankel Introduces Bill to Protect Seniors from New Trump Social Security Repayment Policy

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Washington, DC – Today, Representative Lois Frankel (FL-22) joined several of her House Democratic colleagues to introduce the Claws Off Social Security Act—a bill that protects seniors from having their entire Social Security checks withheld in cases of accidental overpayment.

    Under a recently implemented policy by the Trump Administration, the Social Security Administration (SSA) may withhold 100 percent of a senior’s benefit if an accidental overpayment occurs—even when the mistake was through no fault of the beneficiary. This change could leave millions of Americans without the income they rely on for food, housing, and medicine.

    The Claws Off Social Security Act would reinstate a commonsense safeguard previously in place during the Biden Administration, which limited repayments to 10 percent of a recipient’s monthly benefit. This allows seniors to repay overpayments gradually without being pushed into financial crisis.

    “For so many older Americans, a Social Security check isn’t a luxury—it’s a lifeline,” said Rep. Frankel. “It helps keep food on the table, the lights on, and critical medications within reach. It’s simply wrong to take away someone’s entire income because of a government mistake. This bill restores fairness and compassion to the system—ensuring seniors can repay what’s owed without losing everything they depend on to get by.”

    In 2023 alone, the SSA sought to recover overpayments from more than two million people. Many were blindsided by sudden demands for repayment and feared losing their only source of income.

    The Claws Off Social Security Act would:

    1. Cap the SSA’s monthly withholding for overpayments at 10 percent of a recipient’s benefit;
    2. Allow beneficiaries the option to repay more if they choose; and
    3. Provide an exception in cases involving fraud.

    The bill is co-led by Reps. Dwight Evans (PA-03), John Larson (CT-01), and Rosa DeLauro (CT-03), and is endorsed by leading advocacy organizations including Justice in Aging, the National Committee to Preserve Social Security and Medicare, and Social Security Works.

    Click here to read the full text.

    ###

    MIL OSI USA News –

  • MIL-OSI: Navicore Solutions Sees a Rising Need for Debt Management Services as Credit Card Usage Increases Despite Associated High Interest Rates

    Source: GlobeNewswire (MIL-OSI)

    MANALAPAN, N.J., April 17, 2025 (GLOBE NEWSWIRE) — Navicore Solutions, a leading nonprofit credit counseling organization, has found a significant increase in Americans seeking debt management assistance in the first quarter of 2025. As credit card balances continue to increase despite soaring interest rates, Navicore offers more consumer education and support to consumers nationwide.

    Americans now collectively owe a record $1.21 trillion on their credit cards, according to recent data from the Federal Reserve Bank of New York, with credit card balances jumping by $45 billion in the fourth quarter of 2024—a 7.3% increase from the previous year. This surge comes at a time when credit card interest rates average an astounding 23%, far exceeding rates on any other major type of loan or bond.

    “Credit card interest rates are at historic highs, yet consumers continue to rely heavily on this expensive form of credit. The result can be a dangerous cycle of debt that’s increasingly difficult for households to escape without assistance,” said Diane Gray, Chief Operating Officer at Navicore.

    The percentage of credit cardholders carrying debt from month to month has increased to 48%, up from 44% at the start of 2024, with 53% of those individuals having been in debt for at least a year. Even more concerning is that the average credit card balance per consumer has climbed to approximately $6,580, reflecting a 3.5% increase year over year.

    “With annual percentage rates exceeding 20%, consumers making only minimum payments on the average credit card balance face an 18-year journey to debt freedom, accumulating a large amount of interest over that period,” explained Gray. “This mathematical reality may be shocking to many consumers when they review their financial situations.”

    Adding to these concerns, the share of credit card holders making only minimum payments reached 10.75% in the third quarter of 2024, the highest level recorded in the last 12 years. Simultaneously, delinquency rates have climbed, with 7.18% of balances transitioning to delinquency over the last year and the share of balances more than 30 days past due rising to 3.52%, up from 3.21% as reported by the Federal Reserve Bank of Philadelphia.

    In response to these trends, Navicore Solutions has continued to provide quality counseling services, debt management programs and financial education initiatives. “Our debt management plans help consumers pay down their credit card debt, often at lower interest rates, typically reducing monthly their payments to a manageable level” said Gray, “but beyond immediate relief, we’re focused on providing financial education and budgeting skills that empower consumers to break the cycle of debt dependence altogether.”

    About Navicore Solutions

    Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.

    Navicore counselors provide a wide range of services including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.

    Contact:
    Lori Stratford
    Digital Marketing Manager
    Navicore Solutions
    lstratford@navicoresolutions.org
    navicoresolutions.org

    The MIL Network –

  • MIL-OSI USA: SBA Manufacturing Loans Skyrocket Under Trump Administration

    Source: United States Small Business Administration

    WASHINGTON — Today, the U.S. Small Business Administration (SBA) announced a major surge in manufacturing loans during the first 90 days of the Trump Administration. Compared to the same period during the Biden Administration, the number of SBA 7(a) loan approvals for small manufacturers has increased by 74%.

    The 7(a) loan program is SBA’s flagship program, a public-private partnership which offers government-guaranteed loans to help small businesses finance equipment purchases, real estate acquisition, working capital (including revolving credit lines), and business expansion. Since Jan. 20, 2025, SBA has approved over 1,120 7(a) loans for manufacturers with a total loan volume of $677 million. During the same period in 2021, SBA approved less than 650 7(a) loans for manufacturers with a total loan volume of $497 million. Nearly 99% of American manufacturers are considered to be small businesses.

    “Loan applications and approvals for small manufacturers are surging – a clear sign that American manufacturing is roaring back, fueled by pro-growth policies that put American workers and businesses first,” SBA Administrator Kelly Loeffler said. “Thanks to President Trump’s agenda to restore economic and national security, SBA is helping to power an industrial comeback – meeting massive demand to help America’s small producers expand operations, create good-paying jobs, and restore our supply chains.”

    Manufacturing has been on the rebound since President Trump took office, boosted by his pro-business agenda – including tax cuts, deregulation, energy independence and tariffs. The country gained 10,000 manufacturing jobs during President Trump’s first full month in office after losing more than 111,000 under President Biden in 2024.

    Under Administrator Loeffler, the SBA has dedicated significant resources to support small manufacturers and workers. Last month, the agency announced its Made in America Manufacturing Initiative – a campaign to cut $100 billion in red tape, increase access to capital, and promote a skilled workforce. As part of this initiative, agency leaders have met with more than 150 small manufacturers across the country – holding roundtables and site tours on its Made in America Roadshow.

    SBA guarantees numerous different types of loans to help small businesses and manufacturers start and grow their businesses. In addition to the 7(a) loan program, the agency also guarantees 504 loans – which provide long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.

    # # #

     

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI: dLocal to Report First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MONTEVIDEO, Uruguay, April 17, 2025 (GLOBE NEWSWIRE) — DLocal Limited (NASDAQ: DLO, “dLocal” or the “Company”), a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, intends to release financial results for its first fiscal quarter ended March 31, 2025 on May 14, 2025 after market close.

    The Company will host a conference call and video webcast on May 14, 2025 at 5:00 p.m. Eastern Time.

    Please click here to pre-register for the conference call and obtain your dial in number and passcode. The live conference call can be also accessed via audio webcast at the investor relations section of the Company’s website, at https://investor.dlocal.com/. An archive of the webcast will be available for one year following the conclusion of the conference call.

    About dLocal

    dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

    Forward Looking Statements

    This press release contains certain forward-looking statements. These forward-looking statements convey dLocal’s current expectations or forecasts of future events. Forward-looking statements regarding dLocal involve known and unknown risks, uncertainties and other factors that may cause dLocal’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” and “Cautionary Note Regarding Forward-Looking Statements” sections of dLocal’s filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.

    Investor Relations Contact:

    investor@dlocal.com

    Media Contact:

    media@dlocal.com

    The MIL Network –

  • MIL-OSI: Trupanion, Inc. Announces First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, April 17, 2025 (GLOBE NEWSWIRE) — Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announced today it will report financial results for its 2025 first quarter after the market closes on Thursday, May 1, 2025. The company will host a conference call that day beginning shortly after 1:30 p.m. PT / 4:30 p.m. ET.

    A live webcast discussing results, guidance and management observations will be available on Trupanion’s Investor Relations site under Investor Events at http://investors.trupanion.com and will be archived online for 3 months upon completion of the conference call. A slide presentation will also be available on the site.

    Participants can access the conference call by dialing 1-866-250-8117 (United States) or 1-412-317-6011 (International). A telephonic replay of the call will also be available after the completion of the call, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10197710.

    About Trupanion:

    Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, certain countries in Continental Europe, and Australia with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com.

    Contact: 

    Laura Bainbridge, Senior Vice President, Corporate Communications
    Gil Melchior, Director, Investor Relations
    Investor.Relations@trupanion.com

    The MIL Network –

  • MIL-OSI: iRhythm Technologies to Report First Quarter 2025 Financial Results on May 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 17, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, prevent, and predict disease, today announced that it will release financial results for the first quarter 2025 after the close of trading on Thursday, May 1, 2025. The company’s management team will host a corresponding conference call beginning at 1:30 p.m. PT / 4:30 p.m. ET.

    Interested parties may access a live and archived webcast of the conference call on the “Quarterly Results” section of the company’s investor website at investors.irhythmtech.com.

    About iRhythm Technologies, Inc.
    iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    The MIL Network –

  • MIL-OSI: PubMatic to Announce First Quarter 2025 Financial Results on May 8, 2025 

    Source: GlobeNewswire (MIL-OSI)

    NO-HEADQUARTERS/REDWOOD CITY, Calif., April 17, 2025 (GLOBE NEWSWIRE) — PubMatic, Inc. (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today announced that it will release its financial results for the first quarter ended March 31, 2025 after market close on May 8, 2025. On that day, PubMatic will host a webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the company’s financial results. 

    Webcast Details 

    • What: PubMatic’s First Quarter 2025 Earnings Webcast 
    • When: Thursday, May 8, 2025, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) 
    • Webcast: A live and archived webcast can be accessed from the News & Events section of PubMatic’s Investor Relations website: https://investors.pubmatic.com 

    About PubMatic 

    PubMatic is an independent technology company maximizing customer value by delivering digital advertising’s supply chain of the future. PubMatic’s sell-side platform empowers the world’s leading digital content creators across the open internet to control access to their inventory and increase monetization by enabling marketers to drive return on investment and reach addressable audiences across ad formats and devices. Since 2006, PubMatic’s infrastructure-driven approach has allowed for the efficient processing and utilization of data in real time. By delivering scalable and flexible programmatic innovation, PubMatic improves outcomes for its customers while championing a vibrant and transparent digital advertising supply chain.

    The MIL Network –

  • MIL-OSI USA: Congresswoman Cherfilus-McCormick Introduces Landmark Tax Bill to Provide Economic Opportunity to Working Families

    Source: United States House of Representatives – Congresswoman Sheila Cherfilus-McCormick (D-Florida 20th district))

    Washington D.C. ─ Today, Congresswoman Cherfilus-McCormick introduced the All-Americans Tax Relief Act, comprehensive tax relief legislation that boosts economic mobility, lowers costs, and improves the financial security and well-being of hard-working South Florida families and families across the country.

    “For far too long, the U.S. tax code has deprived Americans of economic opportunity and remains a barrier to financial advancement,” said Congresswoman Sheila Cherfilus-McCormick (D-FL). “My legislation will lay the necessary foundation for working families to achieve the American Dream, accounting for those everyday expenses — from rent to commuting — that stand in the way of economic mobility. Every American, regardless of their income or ZIP code, should have the tools to create wealth.”

    “The Financial Services Innovation Coalition (FSIC) fully supports the All-Americans Tax Relief Act of 2025 because it’s a real win for middle-class families,” said Kevin B. Kimble, Founder and CEO of FSIC. “This bill helps regular people by letting them deduct everyday costs like childcare, medical bills, commuting, and even tutoring. At a time when folks are struggling with high prices and flat wages, this is the kind of tax relief that can make a real difference. It’s about making the system work for the people who keep this country running, not just the wealthy.”

    The All-Americans Tax Relief Act puts the needs of working families first by:

    • Creating above-the-line deductions for medical expenses, rent expenses, daycare expenses, commuting costs, tutoring costs, and credit card debt interest payments for working- and middle-class families
    • Expanding the Earned Income Tax Credit by an average amount of $1,418.75 for single taxpayers and $1,656.25 for married couples filing jointly
    • Increasing the Child Tax Credit to $2,000 for up to three qualifying children and $500 for each additional qualifying child
    • Converting the Child Tax Credit to a fully refundable credit
    • Making the wealthy pay their fair share by increasing the top capital gains rate from 20% to 25%

    The Financial Services Innovation Coalition, HBCU Wall Street, Southern Christian Leadership Conference, Homeless Coalition of Dallas, Government Executives International, Texas Justice and Education Fund, Partnership for Innovation and Empowerment Advocacy, FederalReserve.Black, Tuskeegee Macon County Community Foundation, and the Hispanic Institute have all endorsed this legislation. 

    The full text of the bill can be found here. 

    MIL OSI USA News –

  • MIL-OSI USA: Secretary of State Hoskins Identifies Top 5 Threats to Missouri Investors

    Source: US State of Missouri

     

     

    Secretary of State Hoskins Identifies Top 5 Threats to Missouri Investors

    From the Missouri Securities Division, a division of Missouri Secretary of State Denny Hoskins’ Office

    1. Scams Involving Digital Assets and Cryptocurrency

    Scammers often use Facebook, Telegram, WhatsApp, TikTok, YouTube, Instagram and other social media apps to find victims. Be cautious if someone asks you to cash out a retirement account like a 401(k) or to move money from an investment account into some sort of crypto platform. Always check the person’s background and qualifications before investing. If they hesitate to share that information, that’s a red flag. Walk away.

    2. Unregistered Promissory Notes

    Securities must be either registered or legally exempt—and so must the people selling them. Scammers often build trust and then ask for money. No friendship should require an investment. If it does, it’s likely a scam.

    3. Risky Real Estate Investments

    Real estate investment scams are on the rise. Scammers may try to sell you a share in a company that plans to buy and fix up distressed property for big profits. In many cases, the property is worthless, and investors lose most of their money. Always ask for a prospectus and read all disclosure documents before investing. Never invest more than you can afford to lose—there’s no such thing as a risk-free investment.

    4. Gold, Silver and Other Precious Metals

    Precious metals can help diversify your portfolio, but scammers use fear and pressure to convince people to invest too much in them. These investments may have hidden fees or be hard to sell. Some buyers have found it would take years to recover what they lost—time that older investors may not have.

    5. AI-Generated Testimonials

    Many online celebrity endorsements and reviews are fake and made using artificial intelligence. Whether real or not, a testimonial is never a reliable way to judge an investment. Always talk to a registered investment adviser. (You can check registrations on the Missouri Securities Commission website!) Don’t invest just because someone famous—or even a friend—recommended it.

    Stay alert when it comes to your finances. If someone asks for your investment, you can check their background by calling the Missouri Investor Protection Hotline at 1-800-721-7996.

    The Missouri Securities Division, a division of Missouri Secretary of State Denny Hoskins’ Office, is here to help protect your hard-earned money.

    About the Missouri Securities Division

    The Missouri Securities Division, a division of the Missouri Secretary of State’s Office, is responsible for protecting Missouri investors and ensuring fair and transparent securities markets. Under the authority of the Missouri Securities Act of 2003, the Division regulates the offer and sale of securities and the licensing of broker-dealers, agents, investment advisers, and investment adviser representatives.

    The Division investigates allegations of securities fraud and unregistered activity, brings enforcement actions against violators, and provides investor education resources to help Missourians make informed financial decisions. Through proactive oversight and enforcement, the Securities Division plays a critical role in promoting public trust and financial integrity in Missouri’s investment landscape. The Division is led by Commissioner Michael O’Donnell.

     

    About the Missouri Secretary of State’s Office

    The Missouri Secretary of State’s Office serves as a central hub for key state functions that promote transparency, security, and opportunity for all Missourians. The Office oversees the administration of fair and secure elections, registers and supports businesses, maintains and preserves state records through the State Archives, and ensures public access to government rulemaking via the Administrative Rules Division.

    Additionally, the Office protects investors through the Securities Division, supports libraries and literacy programs across the state, and administers the Safe at Home address confidentiality program for survivors of abuse and assault. With a commitment to service, accountability, and civic engagement, the Secretary of State’s Office works every day to strengthen Missouri’s government and communities.

     

    About Secretary of State Denny Hoskins

    Denny Hoskins, CPA, was elected Missouri’s 41st Secretary of State in November 2024. With a strong background in business and public service, he is committed to improving government efficiency, transparency, and supporting Missouri families. Hoskins previously served as a legislator in both the state Senate and House. He and his wife, Michelle, reside in Warrensburg and have five adult children.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James Wins Case Against Google for Monopolies in Digital Advertising

    Source: US State of New York

    EW YORK – New York Attorney General Letitia James today announced a major court victory after the U.S. District Court for the Eastern District of Virginia found that Google has violated the law by maintaining illegal monopolies in the digital advertising technology industry, stifling competition and harming website publishers, advertisers, and consumers. Attorney General James led a coalition of 17 attorneys general joining the Department of Justice (DOJ) to sue Google in 2023, seeking to stop Google’s anticompetitive conduct that threatens markets in the online advertising industry. 

    “Google’s monopolies allow it to soak up excessive profits, leaving less for the workers and businesses whose livelihoods depend on online advertising,” said Attorney General James. “Everyone from major news organizations to small independent bloggers has taken a financial hit because of Google’s conduct, making it harder to continue to offer free, high-quality content online for everyone. Today we won a major victory after a court found Google violated the law when it used its power and influence to limit competition. I look forward to continuing this case to deliver real change and restore competition to online advertising platforms that workers and businesses across the country rely on.”

    In January 2023, Attorney General James, DOJ, and the coalition of attorneys general sued Google for stifling competition in the advertising technology industry, harming website publishers, advertisers, and consumers. The lawsuit alleged Google’s market power allows it to control nearly every aspect of online ad sales, allowing it to extract higher fees from advertisers while paying lower amounts to publishers for their ad space. This conduct hurts consumers and web publishers by making it harder for websites to make enough money on their advertising inventory, preventing them from offering internet users content for free, without subscriptions, paywalls, or alternative forms of monetization.

    Today’s decision, issued by Judge Leonie Brinkema of the Eastern District of Virginia, found Google liable for violating antitrust law by acquiring and maintaining monopolies in the publisher ad server and ad exchange markets for open-web display advertising. The judge also found Google liable for unlawfully tying together its publisher ad server and its ad exchange and that Google harmed competition, its own customers, and Internet users by imposing anticompetitive policies that reduced quality and increased prices.

    A second phase of the trial to determine remedies for Google’s conduct will take place at a later date.

    This lawsuit is led by Attorney General James, the attorneys general of Virginia and California, and DOJ, along with the attorneys general of Arizona, Colorado, Connecticut, Illinois, Michigan, Minnesota, Nebraska, New Hampshire, New Jersey, North Carolina, Rhode Island, Tennessee, Washington, and West Virginia.

    This matter is being handled for New York by Assistant Attorney General Morgan J. Feder of the Antitrust Bureau and Antitrust Bureau Chief Elinor Hoffmann. The Antitrust Bureau is a part of the Division of Economic Justice, which is overseen by Chief Deputy Attorney General Chris D’Angelo and First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

  • MIL-OSI: Orrstown Financial Services, Inc. Announces Date of First Quarter 2025 Earnings Release, Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    HARRISBURG, Pa., April 17, 2025 (GLOBE NEWSWIRE) — Orrstown Financial Services, Inc. (NASDAQ: ORRF), the holding company of Orrstown Bank, announced today that it will report first quarter 2025 earnings at the close of business on Tuesday, April 22, 2025 and that management will host a conference call and webcast to review the Company’s quarterly results on Wednesday, April 23, 2025 at 9:00 am ET. The conference call and webcast details are below:

    Earnings Release: Tuesday, April 22, 2025, After Market Close

    Conference Call and Webcast: Wednesday, April 23, 2025, 9:00 a.m. ET

    Webcast:

    Interested parties may listen to the call and view a copy of the Company’s earnings presentation by joining via webcast at:

    https://events.q4inc.com/attendee/260296507

    Telephone:

    To listen to the call without access to the slides, interested parties may participate by telephone by dialing:

    USA Toll-Free: (800) 715-9871
    USA/International Toll: +1 (646) 307-1963
    Canada Toll-Free: (800) 715-9871
    Conference ID: 7533105

    Recorded Playback:

    An audio recording of the conference call will be available by telephone until April 30, 2025 by dialing one of the numbers listed below:

    US & Canada Toll-Free: (800) 770-2030
    US Toll: (609) 800-9909
    Canada Toll: (647) 362-9199
    Playback ID: 7533105#

    The audio recording of the conference call will also be available in the Investor Relations section of the Company’s website at www.orrstown.com.

    About Orrstown

    With $5.4 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a wide range of consumer and business financial services in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Anne Arundel, Baltimore, Harford, Howard, and Washington Counties, Maryland, as well as Baltimore City, Maryland. The Company’s lending area also includes adjacent counties in Pennsylvania and Maryland, as well as Loudon County, Virginia and Berkeley, Jefferson and Morgan Counties, West Virginia. Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC. Orrstown Financial Services, Inc.’s common stock is traded on Nasdaq (ORRF). For more information about Orrstown Financial Services, Inc. and Orrstown Bank, visit www.orrstown.com.

    For additional information, please contact:

    Neil Kalani
    EVP, Chief Financial Officer
    717-510-7097
    nkalani@orrstown.com

    The MIL Network –

  • MIL-OSI: Royalty Pharma to Announce First Quarter 2025 Financial Results on May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) today announced that it will report its first quarter 2025 financial results on Thursday, May 8, 2025 before the U.S. financial markets open. The company will host a conference call and simultaneous webcast at 8:30 a.m. Eastern Time that day.

    Conference Call Information

    Please visit the “Investors” page of the company’s website at https://www.royaltypharma.com/investors/events/ to obtain conference call information and to view the live webcast. A replay of the conference call and webcast will be archived on the company’s website for at least 30 days.

    About Royalty Pharma

    Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Novartis’ Promacta, Pfizer’s Nurtec ODT and Gilead’s Trodelvy, and 15 development-stage product candidates. For more information, visit www.royaltypharma.com.

    Royalty Pharma Investor Relations and Communications

    +1 (212) 883-6637
    ir@royaltypharma.com

    The MIL Network –