NewzIntel.com

Category: Economy

  • MIL-OSI: iAnthus Continues Expansion in Florida with GrowHealthy Dispensary of Palm Harbor

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCQB: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, has announced the opening of its 22nd GrowHealthy dispensary in Florida, now serving patients in Palm Harbor. The new dispensary opened last week with a ribbon-cutting ceremony and a three-day celebration that included exclusive promotions, live events, and access to new, premium Sunshine State products.

    “The Palm Harbor community has been asking for a GrowHealthy location for some time, and we are thrilled to finally open our doors,” said Kelly Heinichen, Vice President of Retail Operations at iAnthus. “From day one, our focus has been clear – offer safe, consistent access to the highest quality medical cannabis in Florida. Everything about this space – from the layout to the lighting to the local vibes – was built with the patient in mind.”

    GrowHealthy’s commitment to high-quality genetics and whole-plant wellness sets it apart in a crowded market. As a company built by cultivators and caregivers, GrowHealthy continues to lead with flower-first values, local relationships, and a deep respect for the plant. Patients of the dispensary have access to a variety of products, including flower, vapes, concentrates and other medicinal offerings.

    “From the moment you walk in, you feel it – the energy, the intention, the hospitality,” said Kassandra Jones, District Manager at GrowHealthy. “Whether you’re new to medical cannabis or a seasoned patient, our Palm Harbor team is here to listen, guide, and make sure every patient leaves feeling more confident in their wellness journey.”

    The grand opening is part of iAnthus’ broader strategy to expand access to high-quality cannabis across Florida while delivering a modern, approachable retail experience that redefines what a dispensary can be.  

    Located at 2431 Tampa Road, Palm Harbor, Florida (across from the Ferrari dealership), the dispensary will be open Monday-Saturday 9am-8:30pm and Sunday 9am-8pm.

    About iAnthus

    iAnthus is a vertically integrated cannabis company on a mission to build premium brands through a network of cultivation, production, and retail operations across the United States. Backed by a leadership team with deep expertise in cultivation, operations, and capital markets, the company strategically leverages acquisition-driven growth and access to capital to create long-term competitive advantage. iAnthus’ brand portfolio includes: MPX, Anthologie, Black Label, Cheetah, Frūtful, Last Resort, Moodz and Sunshine State. For more information, visit www.iAnthus.com.     

    Forward Looking Statements
    Statements in this news release contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Company’s reports that it files from time to time with the United States Securities and Exchange Commission (the “SEC”) and the Canadian securities regulators which you should review including, but not limited to, the Company’s Annual Report on Form 10-K filed with the SEC. When used in this news release, words such as “will,” could,” plan,” estimate,” expect,” intend,” may,” potential,” believe, “should” and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company’s financial performance, business development and results of operations.

    These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that it will achieve its objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law.

    Neither the Canadian Securities Exchange nor the SEC has reviewed, approved or disapproved the content of this news release.

    The MIL Network –

  • MIL-OSI USA: Rep. Fitzgerald Statement on the Passage of Bills during ‘Crypto Week’

    Source: United States House of Representatives – Congressman Scott Fitzgerald (WI-05)

    WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05), member of the House Financial Services Committee, issued the following statements in response to the passage of three digital asset-related pieces of legislation: the Digital Asset Market Clarity Act of 2025 (CLARITY), Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Act, and Anti-CBDC Surveillance State Act.

    On the CLARITY Act:
    “For too long, our entrepreneurs and investors have faced uncertainty from federal regulators involving digital assets,” said Congressman Fitzgerald. “The CLARITY Act bill finally sets the ground rules, reins in regulatory overreach, and empowers the next generation of digital market builders to thrive here in the United States, not overseas.”

    On the GENIUS Act:
    “Stablecoins present a major opportunity to modernize payments. The GENIUS Act strikes the right balance by fostering innovation while putting clear guardrails in place,” said Congressman Fitzgerald. “It’s a serious, thoughtful approach to payments innovation—without handing the keys to Washington bureaucrats.”

    On the Anti-CBDC Surveillance State Act:
    “A government-controlled digital dollar is a direct threat to privacy, financial freedom, and the American way of life,” said Congressman Fitzgerald. “That’s why I’m a proud cosponsor of the Anti-CBDC Surveillance State Act, which ensures that no federal agency can use a Central Bank Digital Currency to monitor or control how law-abiding Americans spend their money.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Cramer, Fetterman Introduce Bipartisan Bill to Preserve Payment Choice

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    WASHINGTON, D.C. – U.S. Senators Kevin Cramer (R-ND), member of the Senate Banking, Housing, and Urban Affairs Committee, and John Fetterman (D-PA) introduced the Payment Choice Act to preserve payment options for consumers. This legislation ensures customers can use cash as a form of payment and are able to do so without being charged higher prices.

    “Cash is still legal tender in the United States, despite some businesses’ exclusive acceptance of electronic payments,” said Cramer. “Forcing the use of credit and debit cards or imposing premium prices on goods and services paid for with cash limits consumer choice. Americans should have the option of using cards or cash, but they should be the ones who make that choice.”

    “It’s simple: if you’re open for business in America, you should take U.S. dollars,” said Fetterman. “I’m proud to introduce the bipartisan Payment Choice Act with Senator Cramer because every American should be able to use paper currency if they choose. We have millions of people in this country who don’t have access to bank accounts, and they must be able to go shopping with their hard-earned dollars.”

    “Ensuring cash remains a viable payment option is vital for small businesses across the country, not to mention the millions of underbanked Americans who rely on consumer choice in payment for goods and services,” said Amusement & Music Operators Association President Brian Brotsch.

    “The National ATM Council extends its sincerest thanks and appreciation to Senator Cramer and Senator Fetterman for their outstanding leadership and commitment to preserving the role of U.S. currency as legal tender and as a payment option for in-person purchases of basic goods and services,” said Bruce Renard, NAC’s Executive Director. “The continued vitality and universality of cash in America is essential to maintaining the US Dollar’s position abroad as the world’s premier fiat currency, while also preserving personal financial freedom of choice and purchasing privacy for us all here at home.”  

    While the majority of American households have access to financial services, 4.5% of U.S. households do not have a checking or savings account. Those without access to financial services are more likely to have lower incomes, less education, or be a member of a racial or ethnic minority group. Despite a decline in cash payments during the last few years, this demographic still represents nearly 20% of all payments in the U.S. economy.

    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI USA: Kaptur Secures $400,000 in Federal Aviation Funds for Northwest Ohio Airports

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Washington, DC – Today, Congresswoman Marcy Kaptur (OH-09) announced that three regional airports in Northwest Ohio will receive a total of $399,097 in federal funding from the US Department of Transportation to begin critical airport infrastructure improvements.

    “These airports may not make national headlines, but they’re essential arteries for our local economy, medical transport, and business access,” said Congresswoman Kaptur (OH-09). “Whether it’s replacing aging lighting systems in Port Clinton, restoring pavement in Bryan, or upgrading hangar access in Walbridge, this funding ensures safer, more efficient travel and supports jobs across our region. Every community deserves the opportunity to thrive, whether it’s served by a big terminal or a two-runway field.”

    The funds, awarded through the Federal Aviation Administration’s Airport Improvement Program (AIP), are each targeted at design-phase projects. The first critical step before construction can begin. The projects are as follows:

    • Erie-Ottawa International Airport (Port Clinton, OH) – $83,792

    Funding will support the design phase for replacing Taxiway C’s lighting system, which has reached the end of its operational life. The lighting upgrade is essential to maintain safe aircraft movement, especially during low-visibility conditions.

    • Williams County Airport (Bryan, OH) – $117,800

    The award will fund the design of a rehabilitation project for 7,750 square yards of apron pavement. This surface, where aircraft park and refuels, is showing signs of wear and tear and needs to be reinforced to preserve safety and reliability.

    • Toledo Executive Airport (Walbridge, OH) – $197,505

    Funds will go toward the design to reconstruct 4,400 square yards of T-Hangar Apron pavement and 1,350 feet of taxi lanes, both of which have deteriorated over time. The improvements will enhance access for small aircraft operators and improve the overall functionality of the airport’s general aviation facilities.

    All three projects are being administered by the Federal Aviation Administration. Each will begin with design and engineering, setting the stage for full-scale construction phases expected to follow in future funding cycles.

    # # #

    MIL OSI USA News –

  • MIL-OSI New Zealand: New Advanced Tech Institute backs science sector

    Source: New Zealand Government

    Science, Innovation and Technology Minister Dr Shane Reti has announced the establishment of a new institute to grow New Zealand’s advanced technology sector and boost high-value exports.

    Minister Reti says the new public research organisation, to be named the New Zealand Institute for Advanced Technology (NZIAT), will play a leading role in turning world-class science into commercial success.

    “The Institute will focus on breakthrough technologies like AI, quantum computing, and synthetic biology – fields with the potential to transform industries, grow exports, and lift New Zealand’s global competitiveness,” Dr Reti says.

    “It will be a cornerstone of our plan to grow a high-tech, high-value economy.”

    The Government has committed an initial $231 million over four years to:

    • Invest in science and technology that supports industries with the potential to shape New Zealand’s future
    • Develop skills and grow expertise in new and promising technologies
    • Help boost New Zealand’s economy by innovating and commercialising new technologies into real-world businesses and products.

    The Institute is intended to have a central base in Auckland, as an existing centre of innovation, and will invest in a broad network of smaller centres to conduct research in collaboration with universities, industry, and existing research institutions.

    The first major investment, announced in May, is based at Wellington’s Robinson Research Institute, specialising in Future Magnetic and Materials Technologies.

    Additional investments will be confirmed following advice from the Prime Minister’s Science, Innovation and Technology Advisory Council, which will meet for the first time today.

    “New Zealand has made significant investments in areas of existing strength, like agri-tech, resulting in our global reputation for cutting-edge agricultural science,” says Dr Reti.

    “This new Institute, supported by strategic advice from the Prime Minister’s Advisory Council, will build on existing strengths and capabilities, and break into new technologies to grow our global reputation as a centre of innovation.  

    “This is about delivering long-term value for New Zealanders – transforming research into growth, jobs, and global impact,” Dr Reti says.

    MIL OSI New Zealand News –

  • MIL-OSI USA: AG Brown joins lawsuit challenging Trump administration rule that would make it harder for Washingtonians to obtain health coverage under the ACA

    Source: Washington State News

    By the Trump administration’s own estimates, the rule will cause up to 1.8 million people to lose their health insurance

    SEATTLE – Attorney General Nick Brown today joined a multistate coalition in filing a lawsuit challenging an unlawful final rule promulgated by the U.S. Department of Health and Human Services (HHS) and Centers for Medicare & Medicaid Services (CMS) that would create significant barriers to obtaining health care coverage under the Affordable Care Act (ACA).

    Congress passed the Affordable Care Act in 2010 to increase the number of Americans with health insurance and decrease the cost of health care. The following year, Washington established the Washington Health Benefit Exchange, building a stable, competitive individual market for health and dental insurance and enabling people to access subsidies to make coverage more affordable, leading to a drop in the state’s uninsured rate from 14.2 percent in 2011 to 4.8 percent in 2023.

    But now the Trump administration is turning back the clock with this final rule, rushed through with an unlawfully short 23-day notice and comment period, that will make it more difficult for people to enroll and keep their health insurance. The administration concedes that up to 1.8 million people across the country will likely lose their health insurance.

    In Washington, the final rule would lead to:

    • Tens of thousands fewer people enrolling in health insurance through the Washington Health Benefit Exchange,
    • The loss of as much as $10 million in annual revenue to the Washington Health Benefit Exchange due to decreased enrollment, and
    • $100 million in uninsured and largely uncompensated hospital care costs, that would then be borne by state taxpayers, providers, carriers, and employers.

    The final rule also excludes coverage of gender-affirming care as an Essential Health Benefit under the ACA. Insurers in Washington will continue to cover gender-affirming care as required by state law. But the rule change means the state will have to defray the expense of these medically necessary insurance benefits, costing state taxpayers about one million dollars annually. 

    “The Trump administration seems determined to undo the progress we’ve made in the past 15 years to help people get medical treatment when they need it,” Brown said. “People in Washington deserve the health care coverage they’re entitled to under the law, and I will continue fighting to protect that access.”

    “Everyone deserves affordable health care,” Washington Governor Bob Ferguson said. “Washington will stand with our partners across the country against the Trump administration’s efforts to strip away people’s health care. Reversing this unlawful rule will help thousands of Washingtonians hold on to their health coverage.”

    “The federal rule from this administration puts up barriers to accessing care that people have counted on for years, makes health insurance more expensive for consumers, and shifts financial burdens to states,” said Insurance Commissioner Patty Kuderer. “Washington state has a stable insurance market today and strong provisions in place to protect against fraud and abuse in our marketplace. The federal government should help us make health insurance more accessible and less costly for people, not more complicated and expensive to obtain.”

    “In the past decade, Washington state’s uninsured rate has dropped significantly, in large part due to the availability of marketplace health insurance plans offered through Washington Health Benefit Exchange. This rule will sharply curtail that progress and reverse years of significant gains,” said Ingrid Ulrey, CEO of the Washington Health Benefit Exchange. “We estimate that this rule, combined with other federal changes, will result in enrollment loss of one-third or more of our current customer base of 280,000 Washington residents.”

    Brown and attorneys general from 19 other states, along with the governor of Pennsylvania, are suing because the rule creates harmful changes to insurance marketplaces and health coverage subsidies. The rule shortens the period people can sign up for health insurance, raises premiums for people who do purchase individual insurance, and drives up costs for the plaintiff states, including covering the expense of medical care for people who lose insurance due to the final rule. 

    The attorneys general argue that the rule is arbitrary and capricious and violates the Administrative Procedure Act. The coalition is asking the court to prevent the challenged portions of the final rule from taking effect in the plaintiff states before the August 25 effective date.

    Joining Brown in this lawsuit are the attorneys general of Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maryland, Maine, Massachusetts, Michigan, Minnesota, New Jersey, Nevada, New Mexico, New York, Oregon, Rhode Island, Vermont, and Wisconsin, as well as Pennsylvania Governor Josh Shapiro, on behalf of the Commonwealth of Pennsylvania.

    A copy of the complaint is available here.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

    Media Contact:

    Email: press@atg.wa.gov

    Phone: (360) 753-2727

    General contacts: Click here

    Media Resource Guide & Attorney General’s Office FAQ

    MIL OSI USA News –

  • MIL-OSI USA: Thirteenth Defendant Pleads Guilty in Transnational Scheme to Defraud U.S. Consumers

    Source: US State of California

    A Peruvian national pleaded guilty yesterday for his participation in transnational mail and wire fraud schemes that targeted vulnerable United States consumers.

    According to court documents, David Cornejo Fernandez, 36, of Lima, Peru, facilitated fraud schemes that stole millions of dollars from Spanish-speaking victims across the United States. Cornejo provided Internet-based telephone lines, caller-ID spoofing services, and recording capabilities to a network of fraudulent call centers based in Peru. Relying on Cornejo’s services, those call centers defrauded and extorted thousands of Spanish-speaking victims by falsely threatening them with court proceedings, fines, and other consequences. Cornejo further provided the call centers with the technology – and, at times, the training – to convincingly impersonate federal agents, police officers, attorneys, court personnel, and other government officials in order to extort payments from victims. Cornejo was extradited from Peru in November 2024 to face charges related to the scheme.        

    Cornejo is the 13th defendant to be convicted in connection with a $15 million transnational fraud scheme that defrauded and threatened Spanish-speaking U.S. consumers. These fraudsters falsely claimed the victims would suffer severe legal, financial and other consequences if they did not pay for English-language products. Collectively, the scheme was responsible for defrauding more than 30,000 United States consumers, many of whom were vulnerable.

    “The Department of Justice is committed to protecting vulnerable U.S. consumers from fraud, especially schemes carried out by criminals impersonating U.S. government officials,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “Those who target American consumers from abroad will be identified, prosecuted, and held accountable for their crimes. We thank the Republic of Peru for their assistance in arresting and extraditing this defendant and others involved in these scams.”

    “The defendant thought he could hide behind borders and phone lines, but the Postal Inspection Service is relentless when it comes to protecting American consumers,” said Acting Inspector in Charge Bladismir Rojo, U.S. Postal Inspection Service, Miami Division. “Setting up fake call centers to harass and intimidate innocent victims, Cornejo and his co-conspirators, crafted a campaign of fear designed to rob people of not only their savings but their peace of mind. If you target Americans, no matter where you are in the world we will find you.”

    In pleading guilty, Cornejo admitted that he provided his co-conspirators with the technology to manipulate the phone numbers on victims’ caller IDs, which enabled them to place threatening calls that appeared to be coming from U.S. federal agencies, court officials or law enforcement agencies. Cornejo also placed recordings on his co-conspirators’ inbound phone lines that appeared to be recordings from actual U.S. courts, police departments and federal agencies. These recordings enhanced the apparent legitimacy of the threatening calls and were used to extort payments from vulnerable consumers in the Southern District of Florida and across the United States. Cornejo also regularly replaced telephone numbers that victims reported as fraudulent, thus enabling his co-conspirators to continue with the fraudulent scheme. 

    Yesterday, Cornejo pleaded guilty to conspiracy to commit mail and wire fraud. A sentencing hearing is scheduled before the Senior U.S. District Judge Robert N. Scola in Miami on Sep. 25.  Cornejo faces a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    USPIS and the Consumer Protection Branch investigated the case.

    Senior Trial Attorney and Transnational Criminal Litigation Coordinator Phil Toomajian and Trial Attorney Carolyn Rice of the Consumer Protection Branch are prosecuting the case and Assistant U.S. Attorney Annika Miranda for the Southern District of Florida is handling asset forfeiture. The Justice Department’s Office of International Affairs, U.S. Attorney’s Office for the Southern District of Florida, State Department’s Diplomatic Security Service, U.S. Marshals Service, Peruvian National Prosecutor General’s Office and Peruvian National Police provided critical assistance.

    If you or someone you know is age 60 or older and has experienced financial fraud, experienced professionals are standing by at 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 provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible 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.

    More information about the department’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints can be filed with the FTC at www.reportfraud.ftc.gov/ or at 877-FTC-HELP. The Justice Department provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at www.ovc.gov.

    MIL OSI USA News –

  • MIL-OSI Security: Man Sentenced to Seven and a Half Years in Prison for Robbing Five Suburban Chicago Financial Institutions

    Source: Office of United States Attorneys

    CHICAGO — A man who robbed four banks and a credit union in the Chicago suburbs has been sentenced to more than seven and a half years in federal prison. 

    CHARLES LAWLER entered the financial institutions and presented demand notes while his friend, TARANDLE LEE, waited outside as the getaway driver.  Together, the pair robbed three banks and a credit union, while Lawler also robbed an additional bank by himself.

    The robberies were as follows:

    • Sept. 22, 2021: Lawler robbed BMO Harris Bank in Naperville, Ill.
    • Sept. 28, 2021: Lawler and Lee robbed Old Second Bank in Lisle, Ill.
    • Oct. 6, 2021: Lawler and Lee robbed Bank Financial in Westmont, Ill.
    • Jan. 3, 2022: Lawler and Lee robbed BMO Harris Bank in Woodridge, Ill.
    • April 14, 2022: Lawler and Lee robbed DuPage Credit Union in Downers Grove, Ill.

    Lawler, 54, of Villa Park, Ill., was arrested in 2023 and has remained detained in law enforcement custody.  He pleaded guilty to the first three robberies and stipulated to his role in the final two.  On Tuesday, U.S. District Judge Robert W. Gettleman sentenced Lawler to seven years and eight months in federal prison.

    Lee, 45, of Bolingbrook, Ill., was arrested in 2023 and has remained detained in law enforcement custody.  A federal jury in Chicago earlier this year convicted Lee on all four robbery counts against him.  Lee’s sentencing hearing has not yet been scheduled.

    Lawler’s sentence was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.  Valuable assistance was provided by the Downers Grove, Ill. Police Department, Bellwood, Ill. Police Department, Woodridge, Ill. Police Department, and Villa Park, Ill. Police Department.  The government is represented by Assistant U.S. Attorneys Alejandro G. Ortega and Jonathan L. Shih.

    MIL Security OSI –

  • MIL-OSI Security: Thirteenth Defendant Pleads Guilty in Transnational Scheme to Defraud U.S. Consumers

    Source: United States Attorneys General

    A Peruvian national pleaded guilty yesterday for his participation in transnational mail and wire fraud schemes that targeted vulnerable United States consumers.

    According to court documents, David Cornejo Fernandez, 36, of Lima, Peru, facilitated fraud schemes that stole millions of dollars from Spanish-speaking victims across the United States. Cornejo provided Internet-based telephone lines, caller-ID spoofing services, and recording capabilities to a network of fraudulent call centers based in Peru. Relying on Cornejo’s services, those call centers defrauded and extorted thousands of Spanish-speaking victims by falsely threatening them with court proceedings, fines, and other consequences. Cornejo further provided the call centers with the technology – and, at times, the training – to convincingly impersonate federal agents, police officers, attorneys, court personnel, and other government officials in order to extort payments from victims. Cornejo was extradited from Peru in November 2024 to face charges related to the scheme.        

    Cornejo is the 13th defendant to be convicted in connection with a $15 million transnational fraud scheme that defrauded and threatened Spanish-speaking U.S. consumers. These fraudsters falsely claimed the victims would suffer severe legal, financial and other consequences if they did not pay for English-language products. Collectively, the scheme was responsible for defrauding more than 30,000 United States consumers, many of whom were vulnerable.

    “The Department of Justice is committed to protecting vulnerable U.S. consumers from fraud, especially schemes carried out by criminals impersonating U.S. government officials,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “Those who target American consumers from abroad will be identified, prosecuted, and held accountable for their crimes. We thank the Republic of Peru for their assistance in arresting and extraditing this defendant and others involved in these scams.”

    “The defendant thought he could hide behind borders and phone lines, but the Postal Inspection Service is relentless when it comes to protecting American consumers,” said Acting Inspector in Charge Bladismir Rojo, U.S. Postal Inspection Service, Miami Division. “Setting up fake call centers to harass and intimidate innocent victims, Cornejo and his co-conspirators, crafted a campaign of fear designed to rob people of not only their savings but their peace of mind. If you target Americans, no matter where you are in the world we will find you.”

    In pleading guilty, Cornejo admitted that he provided his co-conspirators with the technology to manipulate the phone numbers on victims’ caller IDs, which enabled them to place threatening calls that appeared to be coming from U.S. federal agencies, court officials or law enforcement agencies. Cornejo also placed recordings on his co-conspirators’ inbound phone lines that appeared to be recordings from actual U.S. courts, police departments and federal agencies. These recordings enhanced the apparent legitimacy of the threatening calls and were used to extort payments from vulnerable consumers in the Southern District of Florida and across the United States. Cornejo also regularly replaced telephone numbers that victims reported as fraudulent, thus enabling his co-conspirators to continue with the fraudulent scheme. 

    Yesterday, Cornejo pleaded guilty to conspiracy to commit mail and wire fraud. A sentencing hearing is scheduled before the Senior U.S. District Judge Robert N. Scola in Miami on Sep. 25.  Cornejo faces a maximum penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    USPIS and the Consumer Protection Branch investigated the case.

    Senior Trial Attorney and Transnational Criminal Litigation Coordinator Phil Toomajian and Trial Attorney Carolyn Rice of the Consumer Protection Branch are prosecuting the case and Assistant U.S. Attorney Annika Miranda for the Southern District of Florida is handling asset forfeiture. The Justice Department’s Office of International Affairs, U.S. Attorney’s Office for the Southern District of Florida, State Department’s Diplomatic Security Service, U.S. Marshals Service, Peruvian National Prosecutor General’s Office and Peruvian National Police provided critical assistance.

    If you or someone you know is age 60 or older and has experienced financial fraud, experienced professionals are standing by at 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 provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible 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.

    More information about the department’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints can be filed with the FTC at www.reportfraud.ftc.gov/ or at 877-FTC-HELP. The Justice Department provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at www.ovc.gov.

    MIL Security OSI –

  • MIL-OSI: Topnotch Crypto’s New XRP Cloud Mining Contract Ignites the Value-Added Engine of Coin Holders

    Source: GlobeNewswire (MIL-OSI)

    Houston, Texas, July 18, 2025 (GLOBE NEWSWIRE) — Topnotch Crypto has officially unveiled a new XRP-based cloud mining contract, marking a pivotal milestone in the evolution of digital currency utility. Designed to empower XRP holders, the platform now allows users to mine leading cryptocurrencies using XRP as both the funding and payout method. With this development, Topnotch Crypto is leading the way in offering innovative, low-barrier mining opportunities in the decentralized finance ecosystem.

    This launch comes at a time when passive income strategies in crypto are gaining widespread popularity, especially as users look for alternatives to hardware-intensive mining operations. Topnotch Crypto’s solution stands out by merging XRP’s transaction efficiency with a seamless contract-driven mining model—removing the barriers that once made mining difficult for the average investor.

    Turning Idle XRP into Daily Crypto Rewards

    The newly introduced XRP cloud mining contracts allow users to convert their idle XRP into productive digital assets by earning daily profits from cloud mining operations. With a starting point as low as $15, participants can begin generating passive income without purchasing or maintaining mining hardware.

    These fixed-term contracts provide users with full transparency on expected returns. Payouts are processed every 24 hours and can be withdrawn manually, offering a predictable income stream that is especially attractive in today’s volatile crypto market.

    Revolutionizing Cloud Mining with XRP Integration

    Traditionally, mining required significant investment in physical infrastructure—ASICs, GPUs, cooling systems, and electricity. Now, through XRP-powered cloud mining, Topnotch Crypto offers a solution that is fast, secure, and free from technical complexity.

    Unlike Bitcoin or Ethereum, XRP cannot be mined through Proof-of-Work (PoW). Instead, Topnotch Crypto enables users to rent mining power for coins like BTC and LTC, funding those contracts entirely in XRP. The simplicity of this setup, paired with XRP’s near-zero transaction fees, creates a high-efficiency ecosystem that puts mining within reach of everyone.

    Contracts are available across multiple durations, from short-term trials to long-term income strategies. Whether a user is looking to dip a toe into mining or scale with reinvested profits, the flexibility is built in.

    How It Works: Easy Steps to Get Started

    Register an Account
    Signing up is quick and secure, requiring just an email address.

    Claim Your Sign-Up Bonus
    New users can receive a $15 bonus and start their first contract for free.

    Deposit XRP
    Users fund their account using XRP directly, without needing to convert from other tokens.

    Select a Mining Contract
    Choose from a wide range of options based on duration, expected returns, and minimum deposit.

    Activate and Earn
    Once a contract is purchased, mining begins automatically. Payouts are credited every 24 hours.

    Withdraw or Reinvest
    Users can manually withdraw earnings once they reach the minimum threshold or reinvest to grow their daily yield.

    This intuitive model is designed for all experience levels—from crypto veterans to first-time investors looking for a reliable entry point into digital asset accumulation.

    A Secure and Scalable Ecosystem for the Future of Mining

    Security and user confidence remain at the heart of Topnotch Crypto’s operations. The platform uses bank-grade encryption and robust account protection systems to secure user funds. In addition, the company provides live customer support to assist users with everything from withdrawals to account setup.

    By eliminating the need for users to manage hardware or power consumption, the system also offers significant environmental advantages. The data centers powering mining operations are located in energy-efficient regions, with renewable energy powering a majority of the infrastructure.

    Why XRP? Speed, Stability, and Scalability

    XRP is one of the most liquid cryptocurrencies globally, known for its lightning-fast settlement and minimal fees. With its strong developer ecosystem and widespread adoption in payment systems, XRP is now carving a place in decentralized finance through utility-driven projects like Topnotch Crypto’s cloud mining platform.

    Using XRP as the primary mode of payment and reward provides users with enhanced flexibility, reduced conversion losses, and instant access to their earnings. This unique integration positions XRP as more than a payment token—it is now a viable tool for generating digital wealth.

    Transparency, Flexibility, and Daily Returns

    Topnotch Crypto provides users with a transparent dashboard where they can track earnings in real-time. Contract terms are clearly outlined, and returns are delivered based on real mining output—not speculative figures.

    Users are never locked into long-term obligations unless they choose to be. With the freedom to withdraw or reinvest profits at any time, Topnotch Crypto makes it easier than ever to grow a crypto portfolio passively, securely, and flexibly.

    Setting a New Standard in Passive Crypto Income

    With this launch, Topnotch Crypto is setting a new standard for cloud mining services that combine innovation with simplicity. The XRP cloud mining contract is more than just a financial product—it’s a gateway for users to participate in the digital economy on their terms.

    As the crypto space continues to mature, solutions like these are helping everyday users unlock the potential of their digital assets, without being burdened by technical or financial hurdles.

    Media Contact:
    Topnotch Crypto Media Relations

    Official website: https://topnotchcrypto.com

    PR Email: info@topnotchcrypto.com

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in the loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: Stifel Financial Schedules Second Quarter 2025 Financial Results Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, July 17, 2025 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) will release its second quarter financial results before the market opens on Wednesday, July 30, 2025. The company will host a conference call to review the results at 9:30 a.m. Eastern time that same day. The conference call may include forward-looking statements.

    All interested parties are invited to listen to Stifel Chairman and CEO Ronald J. Kruszewski by dialing (866) 409-1555 and referencing participant ID 2769458. A live audio webcast of the call, as well as a presentation highlighting the company’s results, will be available through Stifel’s website, www.stifel.com. For those who cannot listen to the live broadcast, a replay of the broadcast will be available through the above-referenced website beginning approximately one hour following the completion of the call.

    Stifel Company Information
    Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

    Stifel Investor Relations Contact
    Joel Jeffrey, Senior Vice President
    (212) 271-3610 direct
    investorrelations@stifel.com                                

    The MIL Network –

  • MIL-OSI: Stifel Financial Schedules Second Quarter 2025 Financial Results Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, July 17, 2025 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) will release its second quarter financial results before the market opens on Wednesday, July 30, 2025. The company will host a conference call to review the results at 9:30 a.m. Eastern time that same day. The conference call may include forward-looking statements.

    All interested parties are invited to listen to Stifel Chairman and CEO Ronald J. Kruszewski by dialing (866) 409-1555 and referencing participant ID 2769458. A live audio webcast of the call, as well as a presentation highlighting the company’s results, will be available through Stifel’s website, www.stifel.com. For those who cannot listen to the live broadcast, a replay of the broadcast will be available through the above-referenced website beginning approximately one hour following the completion of the call.

    Stifel Company Information
    Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

    Stifel Investor Relations Contact
    Joel Jeffrey, Senior Vice President
    (212) 271-3610 direct
    investorrelations@stifel.com                                

    The MIL Network –

  • MIL-OSI: Talen Energy to Report Second Quarter 2025 Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, July 17, 2025 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) plans to release its second quarter 2025 financial results on Thursday, August 7, 2025, before market open. President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call at 8:00 a.m. EDT (7:00 a.m. CDT) on August 7, 2025.

    To participate in the call, please register for the webcast via the page linked here. Participants can also join by phone by calling 1-646-968-2525 (New York) or 1-888-596-4144 (U.S. & Canada) prior to the start of the call to receive access. For those unable to participate in the live event, a digital replay will be archived for approximately one year and available on the Events page of Talen’s Investor Relations website linked here.

    About Talen
    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to serve this growing industry, as artificial intelligence data centers increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Sergio Castro
    Vice President & Treasurer
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements
    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things, capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network –

  • MIL-OSI: Dime Honored as Lending Partner of The Year by NHSNYC

    Source: GlobeNewswire (MIL-OSI)

    HAUPPAUGE, N.Y., July 17, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced that Dime is being honored as the Lending Partner of the Year at Neighborhood Housing Services of New York City’s Bridging the Gap Gala being held on October 7th, 2025. NHSNYC is committed to increasing access to critical resources, strengthening their ability to meet the evolving needs of our shared community, and ensuring housing stability and financial security for more New Yorkers.

    ABOUT DIME COMMUNITY BANCSHARES, INC.

    Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

    Dime Community Bancshares, Inc.
    Investor Relations Contact:
    Avinash Reddy
    Senior Executive Vice President – Chief Financial Officer
    Phone: 718-782-6200; Ext. 5909
    Email: avinash.reddy@dime.com

    ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

    FORWARD-LOOKING STATEMENTS
    Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

    The MIL Network –

  • MIL-OSI: Mega Fortune Company Limited Announces Closing of $15 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Hong Kong, July 17, 2025 (GLOBE NEWSWIRE) — Mega Fortune Company Limited (the “Company” or “MGRT”), an Internet of Things (“IoT”) solution provider in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 3,750,000 ordinary shares at a price of $4.00 per share. The Company has granted the underwriter a 45-day option to purchase up to an additional 562,500 ordinary shares at the public offering price, less the underwriting discounts.

    The aggregate gross proceeds from the Offering were $15 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on July 16, 2025 under the ticker symbol “MGRT.”

    The Offering was conducted on a firm commitment basis. D. Boral Capital LLC acted as the sole book-running manager for the Offering. FisherBroyles, LLP acted as U.S. securities counsel to the Company, and Jun He Law Offices LLC acted as U.S. counsel to D. Boral Capital LLC in connection with the Offering.

    A registration statement on Form F-1, as amended, relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-282977) and was declared effective by the SEC on June 30, 2025. The Offering was made only by means of a final prospectus. A final prospectus relating to the Offering was filed with the SEC on July 16, 2025, which may be obtained from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022 by email to dbccapitalmarkets@dboralcapital.com, or by calling +1 (212) 970 5150. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC’s website at http://www.sec.gov.

    This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    About Mega Fortune Company Limited

    Mega Fortune Company Limited (the “Company”) is an Internet of Things (“IoT”) solution provider in Hong Kong. Through its operating subsidiary QBS System Limited (“QBS System”), the Company has specialized in delivering comprehensive IoT solutions and services across various industries. QBS System’s business service portfolio includes the provision of IoT Integration Solution Services, IoT Maintenance and Support services, Business Process Outsourcing (“BPO”) services and trading sales. Through its IoT platform, tools and services, QBS system helps enterprises through their digital transformation, launch IoT initiatives, upscale an existing IoT application or integrate any IoT solution with a legacy system to help them become more innovative, effective and productive. The Company’s vision is to become the preferred choice for IoT solutions for enterprises and projects in the Asia-Pacific region.

    Forward-Looking Statements

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

    For more information, please contact:

    Mega Fortune Company Limited
    Phone: +852 5627 5338
    Email:  priscilla.cheng@megafortune-group.com

    The MIL Network –

  • MIL-OSI: Mega Fortune Company Limited Announces Closing of $15 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Hong Kong, July 17, 2025 (GLOBE NEWSWIRE) — Mega Fortune Company Limited (the “Company” or “MGRT”), an Internet of Things (“IoT”) solution provider in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 3,750,000 ordinary shares at a price of $4.00 per share. The Company has granted the underwriter a 45-day option to purchase up to an additional 562,500 ordinary shares at the public offering price, less the underwriting discounts.

    The aggregate gross proceeds from the Offering were $15 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on July 16, 2025 under the ticker symbol “MGRT.”

    The Offering was conducted on a firm commitment basis. D. Boral Capital LLC acted as the sole book-running manager for the Offering. FisherBroyles, LLP acted as U.S. securities counsel to the Company, and Jun He Law Offices LLC acted as U.S. counsel to D. Boral Capital LLC in connection with the Offering.

    A registration statement on Form F-1, as amended, relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-282977) and was declared effective by the SEC on June 30, 2025. The Offering was made only by means of a final prospectus. A final prospectus relating to the Offering was filed with the SEC on July 16, 2025, which may be obtained from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022 by email to dbccapitalmarkets@dboralcapital.com, or by calling +1 (212) 970 5150. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC’s website at http://www.sec.gov.

    This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    About Mega Fortune Company Limited

    Mega Fortune Company Limited (the “Company”) is an Internet of Things (“IoT”) solution provider in Hong Kong. Through its operating subsidiary QBS System Limited (“QBS System”), the Company has specialized in delivering comprehensive IoT solutions and services across various industries. QBS System’s business service portfolio includes the provision of IoT Integration Solution Services, IoT Maintenance and Support services, Business Process Outsourcing (“BPO”) services and trading sales. Through its IoT platform, tools and services, QBS system helps enterprises through their digital transformation, launch IoT initiatives, upscale an existing IoT application or integrate any IoT solution with a legacy system to help them become more innovative, effective and productive. The Company’s vision is to become the preferred choice for IoT solutions for enterprises and projects in the Asia-Pacific region.

    Forward-Looking Statements

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

    For more information, please contact:

    Mega Fortune Company Limited
    Phone: +852 5627 5338
    Email:  priscilla.cheng@megafortune-group.com

    The MIL Network –

  • MIL-OSI: illumin Holdings Inc. Announces Date for Second Quarter 2025 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO and NEW YORK, July 17, 2025 (GLOBE NEWSWIRE) — illumin Holdings Inc. (TSX: ILLM, OTCQB: ILLMF) (“illumin” or “Company”), a leader in digital advertising technology that empowers marketers to make smarter decisions about communicating with online consumers, announces that it will report its second quarter 2025 financial results before market open on Thursday, August 7, 2025.

    Investors and analysts are invited to join a live webcast on Thursday, August 7, 2025, at 8:30 AM ET, where CEO, Simon Cairns and CFO, Elliot Muchnik will discuss illumin’s Second Quarter 2025 results, followed by a question-and-answer session.

    Conference Call Details:

    To register for the conference call webcast and presentation, please visit: https://events.illumin.com/q2-2025-earnings-call

    Please connect at least 15 minutes prior, to ensure time for any software download that may be needed to hear the webcast.

    A recording of the conference call webcast will be available after the call by visiting the Company’s website at https://illumin.com/investor-information/.

    About illumin:

    illumin is evolving the digital advertising landscape by empowering marketers to achieve transformative results through its customer-centric approach. Featuring a unified canvas built around the open web, illumin lets brands and agencies seamlessly plan, build, and execute campaigns across the entire marketing funnel—connecting programmatic channels, email, and social media within a single platform. Headquartered in Toronto, Canada, illumin serves clients across North America, Latin America, and Europe. For more information, visit illumin.com.

    For further information, please contact.

      Steve Hosein
    Investor relations
    illumin Holdings Inc.
    416-218-9888 x5313
    investors@illumin.com    		   David Hanover
    Investor Relations – U.S.
    KCSA Strategic Communications
    212-896-1220
    dhanover@kcsa.com
           

    Disclaimer regarding Forward-looking Statements

    Certain statements included herein constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies.  Investors are cautioned not to put undue reliance on forward-looking statements.  Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

    The MIL Network –

  • MIL-OSI: iRhythm Technologies to Report Second Quarter 2025 Financial Results on July 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 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 second quarter 2025 after the close of trading on Thursday, July 31, 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: iRhythm Technologies to Report Second Quarter 2025 Financial Results on July 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 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 second quarter 2025 after the close of trading on Thursday, July 31, 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: P10 Schedules Second Quarter 2025 Earnings Release for Thursday, August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, July 17, 2025 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced it will release its second quarter 2025 results on Thursday, August 7, 2025, before the U.S. markets open.

    The company will host a conference call and live webcast at 8:30 a.m. Eastern Time on the same day. The webcast may be accessed here. All participants joining by telephone should register here for personal dial-in and PIN numbers.

    For those unable to participate in the live call, a replay will be made available on P10’s investor relations page at ir.p10alts.com.

    About P10
    P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of March 31, 2025, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

    P10 Investor Contact:
    info@p10alts.com

    P10 Media Contact:
    Josh Clarkson
    Taylor Donahue
    pro-p10@prosek.com  

    The MIL Network –

  • MIL-OSI USA: As Chaotic Trump Tariffs Drive Price Hikes, Warren, Baldwin, Schakowsky, Deluzio Propose New Tools to Fight Price Gouging

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    July 17, 2025
    Text of Bill (PDF) | Bill One-Pager (PDF)
    Washington, D.C. — U.S. Senators Elizabeth Warren (D-Mass.) and Tammy Baldwin (D-Wis.), along with Representatives Jan Schakowsky (D-Ill.) and Chris Deluzio (D-Pa.) reintroduced the Price Gouging Prevention Act to fight back against the corporate greed enabled by the Trump administration’s chaotic tariff policies. The bill would give the Federal Trade Commission (FTC) and state attorneys general new tools to enforce a federal ban against grossly excessive price increases.
    The last five years have repeatedly shown us that giant corporations will take advantage of inflation and supply chain disruptions to expand their profit margins by raising prices higher than necessary to cover cost increases. President Trump’s on-again, off-again tariffs have created yet another opportunity for corporate price gouging. The tariff-driven uncertainty gives companies the opportunity to raise prices on all goods, regardless of whether they are actually subject to new tariffs, higher and for longer than what is necessary to cover any cost increases. Now, dozens of companies have reported raising the prices of goods and services unaffected by Trump’s tariffs. 
    “Donald Trump’s reckless tariff policies are giving companies cover to squeeze families and raise prices more than necessary. My bill is an opportunity for Congress to stand up for families by cracking down on price gouging and fighting back against corporate abuse,” said Senator Warren.
    Last week, Senator Warren and 16 other Democrats urged the FTC to investigate tariff-enabled corporate price gouging that is raising costs for American families and use its full authority to prevent it.
    “The biggest corporations in our country jack up the cost of everyday household items, take in record profits, and give their executives huge bonuses – all on the backs of hard-working Wisconsin families. Donald Trump claimed he would lower prices – so far, he has done just the opposite and is even opening the door to more price gouging. But, if we pass this bill, we can rein that in and give Wisconsinites some breathing room and allow them to save for the future,” said Senator Baldwin. “Our bill will finally crack down on corporate greed and help stop those big companies at the top of the food chain from sticking families with exorbitant costs.”
    “Prices are still too high, and inflation is still pounding folks. Especially now, we need to rein in monopolists and other huge corporations with the power to price gouge the American people,” said Congressman Deluzio. “By upping FTC enforcement practices and boosting transparency, this bill will take some of the squeeze off American families and small businesses suffering under the thumb of out-of-control corporate power.”
    “President Donald Trump promised to lower costs, but we have seen the exact opposite. Greedy corporations are using the economic turmoil the Trump Administration has created to gouge the American people on everything from groceries to consumer goods. While these large corporations rake in record profits, families in my community and across the country are struggling to put food on the table,” said Congresswoman Jan Schakowsky. “Our bill will finally put an end to price gouging by empowering the FTC and state attorneys general to hold bad actors accountable when they take advantage of consumers.”
    Senator Warren introduced this bill in the 116th Congress, 117th Congress, and again in the 118th Congress. 
    The Price Gouging Prevention Act of 2025 would help the federal government and state attorneys general fight corporate price gouging. The bill would: 
    Prohibit price gouging at the federal level—anytime and anywhere. The bill would clarify that price gouging is an unfair and deceptive practice under the FTC Act. It would allow the FTC and state attorneys general to stop sellers from charging a grossly excessive price, regardless of where the price gouging occurs in a supply chain or distribution network; 
    Help enforcers establish when price gouging is occurring during a significant shift in trade policy. The bill lists a set of exceptional market shocks—including an “abrupt or significant shift in trade policy”—and outlines a standard for a presumptive violation of the price gouging prohibition during such a shock, such as when companies brag about increasing prices; 
    Create an affirmative defense for small businesses acting in good faith. Small and local businesses sometimes must raise prices in response to crisis-driven increases in their costs because they have little negotiating power with their price-gouging suppliers. This affirmative defense protects small businesses earning less than $100 million from frivolous litigation if they show legitimate cost increases; 
    Require public companies to clearly disclose costs and pricing strategies. During periods of exceptional market shock, the bill requires public companies to transparently disclose and explain changes in their cost of goods sold, gross margins, and pricing strategies in their quarterly SEC filings; and 
    Provide $1 billion in additional funding to the FTC to carry out its work.
    Senators Richard Blumenthal (D-Conn.), John Fetterman (D-Pa.), Andy Kim (D-N.J.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), Elissa Slotkin (D-Mich.), and Sheldon Whitehouse (D-R.I.) joined as co-sponsors. 
    Representatives Angie Craig (D-Minn.), Maggie Goodlander (D-N.H.), Hank Johnson (D-Ga.), Ro Khanna (D-Calif.), Eleanor Holmes Norton (D-D.C.), Jerry Nadler (D-N.Y.), Mary Gay Scanlon (D-Pa.), Rashida Tlaib (D-Mich.), and Paul Tonko (D-N.Y.) joined as co-sponsors. 
    “Consumers deserve and desperately need stronger protection against price gouging and unfair profiteering that this legislation will provide. As state Attorney in Connecticut, I saw firsthand how corporate greed leads wrongdoers to exploit loopholes in present law. American consumers should be safeguarded more effectively by imposing accountability and transparency,” said Senator Blumenthal.
    “Trump’s chaotic tariff policies handed large companies a free pass to jack up prices on the goods and services we rely on every day. As a result, hard-working Americans are being forced to take a smaller slice of the pie while corporate executives line their pockets. The Price Gouging Prevention Act gives regulators the teeth to shut this down,” said Senator Fetterman. “It forces big companies to be honest about why they’re raising prices, and it’ll bring relief at the grocery store and the pump to families across the Commonwealth.”
    “No one should be allowed to pad their pockets by price gouging hardworking Americans,” said Senator Kim. “At a moment when more and more people are feeling like they can’t afford the American dream, this bill is an important tool to stand up for working families, lower costs, and build an economy that looks after all Americans, not just the wealthiest few.”
    “Big corporations are making big profits, and some are cynically using Trump’s tariffs and trade threats to justify price increases on hard working people,” said Senator Markey. “While Republicans shower big corporations with lavish tax breaks, Senator Warren and Senator Baldwin are leading the fight to stand up for working people. I am proud to stand with my colleagues to co-sponsor the Price Gouging Prevention Act and end predatory profiteering.”
    “From outrageous prices for prescription medications, to the costs of groceries skyrocketing, it’s working families footing the bill while huge corporations gouge consumers to line their own pockets,” said Senator Merkley. “Americans deserve basic consumer protections from this harmful practice, and we need the Price Gouging Prevention Act to put people over profits.”
    “Michiganders know their pocketbooks. They know when they are getting taken for a ride.  The cost of living is too high in America, and it is keeping hard-working people out of the middle class,” said Senator Slotkin. “One way to attack that problem is to crack down on price gouging from the largest, multi-national corporations, who too often use a crisis or supply chain disruption to further squeeze Americans and raise prices. This bill strengthens the tools in our toolkit to go after bad-faith actors and protect the middle class.”
    “Corporate bad actors are using Trump’s tariff chaos as an excuse to hike prices far beyond their own cost increases to make even more money at the expense of hardworking Americans,” said Senator Whitehouse. “Our legislation will crack down on price gouging and lower costs for families.”
    This bill is endorsed by the following labor groups and organizations: AFL-CIO, UAW, USW, Accountable.US/Accountable.NOW, American Economic Liberties Project, Consumer Federation of America, Economic Security Project Action, Farm Action Fund, Food & Water Watch, Groundwork Collaborative, National Consumer Law Center (on behalf of its low-income clients), P Street, and Public Citizen. 
    “America’s working families are tired of giant corporations jacking up prices and taking a bigger and bigger slice of their paychecks just to pad their record-breaking profits. The Price Gouging Prevention Act is important legislation to crack down on this corporate greed, put some common-sense fairness back in our economy, and rein in the basic costs that are making it hard for working families to make ends meet,” said Liz Shuler, President of the AFL-CIO. 
    “Working families must never be squeezed by corporations using crises as cover to raise prices. The Price Gouging Prevention Act is a long-overdue check on corporate abuse, holding companies accountable and putting power back in the hands of consumers and workers. We’re proud to support it,” said David McCall, President of the United Steelworkers. 
    “The Trump administration has shown time and again it is on the side of the giant corporations squeezing profits from American families. While the President fans the flames on higher prices and fewer protections, the Price Gouging Prevention Act tackles corporate greed head on. It’s more important than ever that Congress take the initiative to defend American families from abusive price hikes in the marketplace,” said Caroline Ciccone, President of Accountable.US/Accountable.NOW. 
    “Cracking down on price gouging at the federal level is both commonsense and long overdue,” said Morgan Harper, Director of Policy and Advocacy at the American Economic Liberties Project. “From natural disasters to Trump’s tumultuous trade policy, big corporations are weaponizing chaos to pad their bottom line at the expense of hardworking Americans. Just like the laws many states across the country already have in place, Senator Warren’s price-gouging legislation prohibits opportunistic price increases now and during future crises to protect families and small businesses.”
    “Now, more than ever, we need to crack down on predatory corporations that weaponize economic turmoil by price-gouging hardworking Americans and lining their pockets with obscene profits. Congress should immediately pass the Price Gouging Prevention Act and give state and federal law enforcement agencies full power to stop corporations from preying on American families through this shameless profiteering,” said Erin Witte, Director of Consumer Protection for Consumer Federation of America.
    “More and more families are feeling the sting of our affordability crisis, and price gouging is a major cause. Price gouging puts basic needs like groceries, rent, and medications increasingly out of reach for millions just to line the pockets of corporate shareholders. The Price Gouging Prevention Act is a huge step towards ending this practice by holding corporate price gougers accountable,” said Adam Ruben, Director of Economic Security Project Action. 
    “For too long, corporate giants have used market disruptions as an excuse to gouge farmers and consumers, with little fear of consequences. We exposed abusive pricing schemes in the fertilizer, beef, and egg industries in recent years, yet the FTC has been hamstrung in its ability to take action. The legislation introduced by Senator Warren and her colleagues would enable antitrust enforcers to hold these corrupt corporations accountable, restoring fairness to our markets and bringing justice to America’s farmers and consumers,” said Joe Maxwell, President of Farm Action Fund. 
    “While everyday Americans are struggling to make ends meet, corporations continue to hike up prices and rake in record profits. The president’s chaotic trade policy has created the perfect environment for companies to raise prices on consumers well beyond the rate of inflation. Senator Warren’s legislation puts working families first by cracking down on these price gougers and ensuring consumers pay a fair price,” said Lindsay Owens, Executive Director of Groundwork Collaborative. 
    “Whether it’s airlines hiking prices after a hurricane, egg companies using flimsy excuses to quadruple costs, or oil giants colluding to keep prices high, we know corporations price gouge consumers for one simple reason: because they can,” said Joe Van Wye, Senior Legislative Strategist at P Street. “Decades of weak antitrust enforcement let these corporations grow unchecked—giving monopolies the power to squeeze families for every dollar. Senator Warren is taking on corporate greed head-on and demanding real accountability to put dollars back in Americans’ pockets. More of her colleagues should follow her lead.”

    MIL OSI USA News –

  • MIL-OSI Canada: Minister Sidhu and Minister MacDonald statement on resolution of the CPTPP dairy tariff rate quotas dispute with New Zealand

    Source: Government of Canada News

    July 17, 2025 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Maninder Sidhu, Minister of International Trade and the Honourable Heath MacDonald, Minister of Agriculture and Agri-Food, issued the following statement on the resolution of the dairy tariff rate quotas (TRQs) dispute with New Zealand under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

    “This Government remains committed to maintaining, protecting and defending supply management, and standing up for the dairy industry, farmers, workers and the communities they support.

    “Canada has reached a mutually satisfactory solution with New Zealand to resolve the CPTPP dairy TRQs dispute. This agreement, negotiated in close consultation with Canadian dairy stakeholders, will result in certain minor policy changes to Canada’s TRQ administration, and does not amend Canada’s market access commitments. These technical policy changes are limited to quotas administered under the terms of the CPTPP, and will not negatively impact Canada’s dairy industry or supply management.

    “With these changes, New Zealand has confirmed that it will not take further action under the CPTPP dispute settlement process.

    “This outcome shows how Canada and New Zealand, key CPTPP partners, worked together to use the mechanisms established under the trade agreement to resolve differences. Canada and New Zealand will continue to work together to promote trade and investment under the CPTPP and in other fora.”

    Quick facts

    • Today’s announcement follows the dispute settlement process initiated under the CPTPP by New Zealand in 2022.
    • These technical policy changes primarily include:
      • earlier return dates;
      • introducing a chronic return penalty;
      • introducing an underfill mechanism for TRQs with lower fill; and
      • increasing data transparency.
    • These changes will be published on October 1, 2025, for implementation beginning with the 2026 calendar year dairy TRQs.
    • Canada’s dairy sector is a vital pillar of rural communities and a key driver of the economy. Located across the country, these 9,256 farms and 549 dairy processing plants generated $8.9 billion in farm cash receipts and $19.3 billion in sales respectively in 2024. Together, dairy production and processing activities account for more than 70,000 jobs. 

    Associated links

    MIL OSI Canada News –

  • MIL-OSI: Chemung Financial Corporation Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    ELMIRA, N.Y., July 17, 2025 (GLOBE NEWSWIRE) — Chemung Financial Corporation (the “Corporation”) (Nasdaq: CHMG), the parent company of Chemung Canal Trust Company (the “Bank”), today reported a net loss of $6.5 million, or $1.35 per share, for the second quarter of 2025, compared to net income of $6.0 million, or $1.26 per share, for the first quarter of 2025, and net income of $5.0 million, or $1.05 per share, for the second quarter of 2024.

    “The Corporation executed two major components of a transformational balance sheet repositioning in the second quarter by issuing subordinated debt and selling a significant portion of our securities portfolio,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation. “These strategic actions strengthen our regulatory capital position, improved commercial real estate concentration ratios, and enhanced our flexibility in funding loan growth in key expansion markets while positioning the Corporation to benefit from lower funding costs beginning in the third quarter,” Tomson added.

    “Core operating results for the quarter were solid and we remain encouraged by continued success in executing on principal initiatives. These results reflect the resilience of our customer base and the disciplined approach taken by our organization,” said Tomson. “The recent addition of deposit focused team members in our growth markets will complement the strong loan pipelines we are seeing across our footprint,” concluded Tomson.

    Second Quarter Highlights:

    • The Corporation issued $45.0 million in aggregate principal Fixed-to-Floating Rate Subordinated Notes on June 10, 2025, due June 2035. The notes qualify as tier 2 capital at Chemung Financial Corporation.
    • Available for sale securities with a book value of $245.5 million were sold in June 2025 as part of a balance sheet repositioning in conjunction with the Corporation’s subordinated debt issuance, resulting in a realized pre-tax loss of $17.5 million. Proceeds from the sales totaled $227.3 million.
    • Non-GAAP net income and earnings per share, excluding the impact of one-time items, was $6.3 million and $1.31, respectively, for the second quarter of 2025.1
    • Net interest margin increased nine basis points, to 3.05%, for the second quarter 2025, compared to 2.96% for the first quarter 2025, partially due to the impact of the Corporation’s balance sheet repositioning on the composition of interest-earning assets.1
    • Dividends declared during the second quarter of 2025 were $0.32 per share.

    1 See the GAAP to Non-GAAP reconciliations.

    2nd Quarter 2025 vs 1st Quarter 2025

    Net Interest Income:
    Net interest income for the second quarter of 2025 totaled $20.8 million, compared to $19.8 million for the prior quarter, an increase of $1.0 million, or 5.0%, driven by increases of $1.3 million in interest income on loans and $0.5 million in interest income on interest-earning deposits, partially offset by a decrease of $0.5 million in interest income on taxable securities and an increase of $0.4 million in interest expense on borrowed funds.

    Interest income on loans increased largely due to an increase of $30.8 million in average balances of total loans, compared to the prior quarter, an increase of 12 basis points in the average yield on total loans, compared to the prior quarter, and the recognition of $0.1 million in interest income on the payoff of a previously nonaccrual multifamily commercial mortgage. The increase in average balances of total loans was concentrated in commercial real estate. Average balances of commercial loans increased $39.2 million, due mainly to an increase in average balances of commercial real estate loans, while average balances of consumer loans decreased $9.3 million, each compared to the prior quarter. Average balances of residential mortgage loans were roughly in line with the prior quarter. Consumer loan average balances decreased primarily due to a decrease in average balances of indirect auto loans, as the Corporation largely continued to prioritize other types of lending, although auto loan origination activity increased toward the end of the second quarter. This decrease was partially offset by an increase in average balances of home equity lines of credit, largely due to promotional efforts in the first half of 2025. The increase in the average yield on total loans was largely driven by an increase of 11 basis points in the average yield on commercial loans, which was supported by stability in benchmark interest rates in the current period and strong origination yields in recent periods. Interest income recognized on the payoff of one nonaccrual multifamily commercial mortgage positively impacted the second quarter’s average commercial loan yield by approximately two basis points, and the total average loan yield by one basis point.

    Interest income on interest-earning deposits increased mainly due to an increase of $46.2 million in average balances of interest-earning deposits, largely comprised of proceeds from the Corporation’s sale of available for sale securities in the second quarter of 2025, as well as proceeds from the Corporation’s subordinated debt issuance in the second quarter of 2025. The Corporation maintained elevated levels of deposits at the Federal Reserve Bank of New York (FRBNY) at the end of the second quarter, partially in anticipation of the maturity of $155.0 million of total wholesale funding early in the third quarter of 2025. A portion of remaining balances of interest-earning deposits are expected to fund loan growth across the Corporation’s markets.

    Interest income on taxable securities decreased largely due to a decrease of $51.0 million in average balances of taxable securities, compared to the prior quarter, as well as a decrease of 20 basis points in the average yield on taxable securities, compared to the prior quarter. The decrease in average balances of taxable securities was due to both normal paydown activity on mortgage-backed and SBA pooled loan securities, as well as the Corporation’s sale of available for sale securities in the second quarter of 2025. The decrease in the average yield on taxable securities primarily reflected the sale of relatively higher-yielding securities, executed to optimize sale proceeds, which generally resulted in the sale of securities which had yields above the portfolio weighted average yield prior to the sale. Additionally, an increase in amortization on SBA pooled loan securities, driven by paydown activity prior to the sale, also contributed to the decrease.

    Interest expense on borrowed funds increased primarily due to the issuance of $45.0 million in subordinated notes in the second quarter of 2025, as well as an increase of $35.5 million in average balances of Federal Home Loan Bank of New York (FHLBNY) term advances, partially offset by a decrease of $16.4 million in average balances of FHLBNY overnight advances, both compared to the prior quarter. The subordinated notes were issued at a fixed interest rate of 7.75%, which will convert to a floating interest rate of the then-current Three-Month Term SOFR rate plus a spread of 415 basis points in the second quarter of 2030. There were $0.9 million in deferred issuance costs associated with the offering. The increase in average balances of FHLBNY term advances was primarily due to decreases in average balances of other types of wholesale funding, including FHLBNY overnight advances and brokered deposits. The average cost of FHLBNY term advances was consistent with the prior quarter, while the average cost of FHLBNY overnight advances decreased three basis points compared to the prior quarter.

    Interest expense on deposits decreased by less than $0.1 million compared to the prior quarter, largely due to decreases in the average cost of customer time deposits and brokered deposits of 21 and 26 basis points, respectively, and a decrease of $20.0 million in average balances of brokered deposits, compared to the prior quarter, mostly offset by an increase of 13 basis points in the average cost of savings and money market deposits, compared to the prior quarter. The decrease in the average cost of customer time deposits was mainly due to the duration of deposits in the portfolio and the repricing of CDs issued in earlier periods as deposits were renewed or matured. The decrease in average balances of brokered deposits was partially due to an increase in average balances of other wholesale funding sources. The increase in the average cost of savings and money market deposits was primarily due to municipal deposit inflows, which tend to carry a higher cost than equivalent products for consumer or commercial clients.

    Fully taxable equivalent net interest margin was 3.05% for the current quarter, compared to 2.96% for the prior quarter. Average interest-earning assets increased $20.2 million, while average interest-bearing liabilities increased $21.2 million during the second quarter, compared to the prior quarter. The average yield on interest-earning assets increased 11 basis points to 4.83%, while the average cost of interest-bearing liabilities increased two basis points to 2.57%, compared to the prior quarter. Total cost of funds was 1.94% for the current quarter, compared to 1.92% for the prior quarter, an increase of two basis points.

    Provision for Credit Losses:
    Provision for credit losses was $1.1 million for the second quarter of 2025, in line with the prior quarter. The provision was largely due to growth in commercial loan balances and changes in model inputs, including FOMC forecasts for increased unemployment and a decline in GDP growth, as well as declines in modeled prepayment speeds. A majority of loan balances charged-off in the second quarter related to loans that carried full specific allocations in the Corporation’s allowance for credit losses, and therefore did not affect the provision for credit losses for the quarter. Charge-offs on loans which did not carry specific allocations were comparable to the prior quarter.

    Non-Interest Income:
    The Corporation recognized a pre-tax loss of $17.5 million on the sale of a portion of its available for sale securities portfolio in the second quarter of 2025, resulting in overall negative non-interest income of $10.7 million for the quarter, compared to positive non-interest income of $5.9 million for the prior quarter. Recurring non-interest income (see Non-GAAP reconciliations), which excludes the loss on the sale of available for sale securities and the gain on the sale of a previous branch property, increased $0.3 million compared to the prior quarter, driven by an increase in the change in fair value of equity investments of $0.2 million.

    The loss recognized on the sale of available for sale securities was a major component of the Corporation’s strategic balance sheet repositioning, where proceeds from the sale of securities are largely expected to be used to pay off more expensive wholesale funding liabilities later in 2025 and fund future loan growth. The pre-tax loss of $17.5 million represents 7.1% of the book value of securities sold as of the transaction date. The composition of securities sold included all the Corporation’s U.S. Treasury and SBA pooled-loan securities, as well as portions of the Corporation’s mortgage-backed securities and municipal bond portfolios. The weighted average book yield and weighted average life of securities sold were approximately 2.1% and three years, respectively, while the weighted average book yield and weighted average life of securities remaining were approximately 2.0% and seven years, respectively.

    The Corporation also recognized a gain of $0.6 million on the sale of its previously disclosed held for sale branch property in Ithaca, New York. As previously disclosed all operations of the branch, formerly known as the “Ithaca Station” branch, were consolidated into a nearby branch in Ithaca in the fourth quarter of 2024. The increase in the change in fair value of equity investments was largely due to an increase in the market value of the Corporation’s deferred compensation plan, due to improvements in financial markets during the current quarter.

    Non-Interest Expense:
    Non-interest expense for the second quarter of 2025 was $17.8 million, compared to $16.9 million for the prior quarter, an increase of $0.9 million, or 5.3%, driven by increases of $0.4 million in salaries and wages, $0.2 million in pension and other employee benefits, and $0.2 million in professional services.

    Salaries and wages increased largely due to an increase in full-time equivalent employees compared to the prior quarter, including additional staffing in the Western New York Canal Bank division and temporary summer employees, as well as an increase in salary expense attributable to the increase in the market value of the Corporation’s deferred compensation plan. Pension and other employee benefits increased primarily due to an increase in employee healthcare-related expenses, compared to the prior quarter. Professional services increased largely due to tax services related to the Corporation’s Wealth Management Group, compared to the prior quarter.

    Income Tax Expense:
    Income tax expense for the second quarter of 2025 was a tax benefit of $2.4 million, compared to income tax expense of $1.7 million for the prior quarter, a decrease of $4.1 million. The decrease in income tax expense was primarily due to the net loss on the Corporation’s sale of available for sale securities in the second quarter of 2025.

    2nd Quarter 2025 vs 2nd Quarter 2024

    Net Interest Income:
    Net interest income for the second quarter of 2025 totaled $20.8 million, compared to $17.8 million for the same period in the prior year, an increase of $3.0 million, or 16.9%, driven by increases of $1.9 million in interest income on loans and $0.5 million in interest income on interest-earning deposits, and a decrease of $1.6 million in interest expense on deposits, partially offset by a decrease of $0.7 million in interest income on taxable securities.

    Interest income on loans increased largely due to an increase of $98.7 million in average balances of total loans compared to the same period in the prior year, as well as an increase of nine basis points in the average yield on total loans compared to the same period in the prior year. The increase in average balances of total loans was concentrated in commercial loans, which grew by $129.2 million compared to the same period in the prior year, largely comprised of growth in commercial real estate balances, particularly in the Bank’s Capital region and Western New York markets. The average yield on commercial loans decreased one basis point compared to the same period in the prior year, largely due to declines in benchmark interest rates on existing loans and the lower market interest rate environment on new originations.

    Average balances of residential mortgage loans increased $2.9 million while the average yield on residential mortgage loans increased 37 basis points, each compared to the same period in the prior year. Mortgage origination activity increased in the first half of 2025 compared to the same period in the prior year, however overall origination volumes continue to trail levels experienced in recent years. The increase in the average yield on residential mortgages was partially driven by a shift in portfolio composition toward variable rate and construction-to-permanent mortgages, which are currently higher-yielding than fixed rate mortgages. Average balances of consumer loans decreased $33.3 million while the average yield on consumer loans increased 25 basis points, each compared to the same period in the prior year. The decrease in average balances was mainly due to a decrease in indirect auto origination activity, and normal portfolio turnover, as the Bank prioritized funding other types of lending over the past year. The increase in the average yield on consumer loans was primarily due to portfolio turnover in the indirect auto portfolio as older, lower-yielding balances were replaced by higher-yielding balances.

    Interest income on interest-earning deposits increased mainly due to an increase of $45.9 million in average balances of interest-earning deposits, despite a decrease of 42 basis points in the average yield on interest-earning deposits, each compared to the same period in the prior year. The increase in average balances was largely due to proceeds from the Corporation’s sale of available for sale securities in the second quarter of 2025 being held as deposits at the FRBNY in advance of $155.0 million in wholesale funding maturing early in the third quarter of 2025. The decrease in the average yield on interest-earning deposits was largely due to a decrease in the Federal Funds Target Range Upper Limit of 100 basis points between the second quarter of 2024 and second quarter of 2025. Deposits held at the FRBNY receive interest at a rate 10 basis points below the Federal Funds Upper Limit.

    Interest expense on deposits decreased primarily due to a decrease of 79 basis points in the average cost of customer time deposits, as well as a decrease of 106 basis points in the average cost of brokered deposits, each compared to the same period in the prior year, resulting in a decrease of 83 basis points in the average cost of total time deposits. The decrease in the cost of customer time deposits was largely due to changes in offered terms on CD campaigns, including a shift towards shorter duration products, while the decrease in the average cost of brokered deposits was largely due to the declining market interest rate environment, which the Corporation was able to take advantage of by primarily utilizing brokered deposits with original durations of three months or less. Average balances of customer time deposits comprised 21.3% of total average deposits for the second quarter of 2025, compared to 21.9% for the second quarter of 2024. Also contributing to the decrease in interest expense on deposits were decreases of 28 basis points and seven basis points in the average cost of interest-bearing demand deposits and savings and money market deposits, respectively, compared to the same period in the prior year. Combined, these decreases resulted in a decrease of 41 basis points in the total average cost of interest-bearing deposits compared to the same period in the prior year, from 2.86% in the second quarter of 2024 to 2.45% in the second quarter of 2025. The deposit beta on total deposits was 28% between these two periods.

    Interest income on taxable securities decreased largely due to a decrease of $86.6 million in average balances of taxable securities, as well as a decrease of 21 basis points in the average yield on taxable securities, both compared to the same period in the prior year. The decrease in average balances was mainly attributable to $57.2 million in paydowns and maturities of available for sale securities between the second quarters of 2024 and 2025, as well as $245.5 million in sales of available for sale securities during the second quarter of 2025 as part of the Corporation’s balance sheet repositioning efforts. The decrease in the average yield on taxable securities was mainly attributable to decreases in interest rates earned on variable rate securities such as SBA loan pooled securities between the second quarters of 2024 and 2025, as well as the average yield of securities sold in the second quarter 2025 being higher than the overall average yield on the portfolio at the time of the sale.

    Fully taxable equivalent net interest margin was 3.05% for the second quarter of 2025, compared to 2.66% for the same period in the prior year. Average interest-earning assets increased $50.5 million, while average interest-bearing liabilities increased $45.8 million, compared to the same period in the prior year. The average yield on interest-earning assets increased fourteen basis points to 4.83%, while the average cost of interest-bearing liabilities decreased 37 basis points to 2.57%, compared to the same period in the prior year. Total cost of funds was 1.94% for the current quarter, compared to 2.20% for the same period in the prior year, a decrease of 26 basis points.

    Provision for Credit Losses:
    Provision for credit losses was $1.1 million for the second quarter of 2025, compared to $0.9 million for the same period in the prior year, an increase of $0.2 million. The increase was largely due to stronger loan growth in the second quarter of 2025, which totaled $34.8 million, compared to the same period in the prior year, as well as changes in the FOMC’s projections for increased unemployment and a decline in GDP growth during the second quarter of 2025, compared to relatively stable projections during the second quarter of 2024.

    Non-Interest Income:
    The Corporation recognized a pre-tax loss of $17.5 million on the sale of a portion of its available for sale securities portfolio in the second quarter of 2025, resulting in overall negative non-interest income of $10.7 million for the quarter, compared to positive non-interest income of $5.6 million for the same period in the prior year. Recurring non-interest income (see Non-GAAP reconciliations), which excludes the loss on the sale of available for sale securities and the gain on the sale of a previous branch property, increased $0.6 million compared to the same period in the prior year, driven by increases of $0.2 million in service charges on deposits and $0.1 million in each of wealth management group fee income and change in fair value of equity investments.

    As previously mentioned in the quarter over quarter comparison, the $17.5 million loss recognized on the sale of available for sale securities was a major component of the Corporation’s balance sheet repositioning. Additionally, the $0.6 million gain on the sale of a previous branch property was part of ongoing rationalization of the Bank’s physical distribution network. Both the increase in service charges on deposits and wealth management group fee income were largely attributable to fee schedule increases implemented in the second half of 2024. Wealth management group fee income also benefited from positive changes in financial markets during the second quarter of 2025, which was also the primary driver in the change in fair value of equity investments, resulting in an increase in the market value of assets held for the Corporation’s deferred compensation plan.

    Non-Interest Expense:
    Non-interest expense for the second quarter of 2025 was $17.8 million, compared to $16.2 million for the same period in the prior year, an increase of $1.6 million, or 9.9%, driven by increases of $0.8 million in salaries and wages, $0.3 million in data processing, and $0.2 million in professional services.

    Salaries and wages increased largely due to an increase in base salaries, including merit-based increases and additional staffing for the Corporation’s Western New York regional banking center. The increase in data processing was primarily due to an increase in core service provider expenses and additional expenses related to Canal Bank operations in Western New York. The increase in professional services was mainly due to an increase in consulting expenses, partially attributable to results-based fees related to the Corporation’s implementation of fee schedule increases in 2024.

    Income Tax Expense:
    Income tax expense for the second quarter of 2025 was a tax benefit of $2.4 million, compared to income tax expense of $1.3 million for the second quarter of 2024, a decrease of $3.7 million. The decrease in income tax expense was primarily due to the net loss on the Corporation’s sale of available for sale securities in the second quarter of 2025.

    Asset Quality
    Non-performing loans totaled $8.2 million as of June 30, 2025, or 0.39% of total loans, compared to $9.0 million, or 0.43% of total loans as of December 31, 2024. The decrease in non-performing loans was largely due to paydown and charge-off activity in the first half of 2025. There were $1.4 million in paydowns on and payoffs of non-performing commercial loans in the first half of 2025, including the payoff of a $1.0 million non-performing multifamily commercial mortgage. Additionally, $0.8 million in non-performing commercial and industrial loan balances were charged-off in the first half of 2025. These decreases were partially offset by $0.3 million in commercial loan balances added to non-performing loans in the first half of 2025. Retail non-performing loans increased $0.7 million compared to December 31, 2024, largely concentrated in home equity and indirect auto loans. Approximately half of the total increase in non-performing retail loans related to one well-secured first lien home equity loan which was placed into nonaccrual status in the first quarter of 2025. Non-performing assets, which are comprised of non-performing loans, other real estate owned, and repossessed vehicles, were $8.4 million, or 0.30% of total assets as of June 30, 2025, compared to $9.6 million, or 0.35% of total assets as of December 31, 2024. The decrease in non-performing assets was largely due to a decrease in non-performing loans. Other real estate owned decreased to $0.1 million as of June 30, 2025 from $0.4 million as of December 31, 2024, and was comprised of only one property as of June 30, 2025, while repossessed vehicles were $0.2 million as of June 30, 2025 and December 31, 2024.

    Total loan delinquencies as of June 30, 2025 decreased compared to December 31, 2024, primarily driven by a decrease in commercial loan delinquencies. As of June 30, 2025, there were less than $0.1 million in performing commercial loan balances considered to be delinquent, compared to $3.9 million as of December 31, 2024. Annualized net charge-offs to total average loans for the second quarter of 2025 were 0.19%, compared to 0.05% for the first quarter of 2025, an increase of 14 basis points. Net charge-offs experienced in the second quarter of 2025 included a $0.7 million charge-off on an unsecured commercial and industrial loan which had previously carried a full allocation in the allowance for credit losses, as well as an unrelated $0.1 million partial charge-off on another commercial and industrial loan which also carried a specific allocation in the allowance for credit losses. Annualized net commercial charge-offs represented 0.20% of average balances for the second quarter of 2025. Consumer loan net charge-offs continues to be concentrated in indirect auto loans, with annualized consumer charge-offs representing 0.35% of average balances for the second quarter of 2025. Residential mortgages had an immaterial net recovery rate for the second quarter of 2025. Annualized net-charge offs for the six months ended June 30, 2025 were 0.12% of total average loan balances, compared to net charge-offs of 0.05% for the six months ended June 30, 2024, an increase of seven basis points, largely due to the $0.7 million commercial and industrial charge-off in the second quarter of 2025.

    The allowance for credit losses on loans was $22.7 million as of June 30, 2025 compared to $21.4 million as of December 31, 2024. The allowance for credit losses on unfunded commitments, a component of other liabilities, was $0.5 million as of June 30, 2025 and $0.8 million as of December 31, 2024. The increase in the allowance for credit losses on loans was partially attributable to the annual review and update to loss drivers used in the Bank’s CECL model, which resulted in higher baseline loss rates for most of the Bank’s portfolio segments. Also contributing to the increase in the allowance was year-to-date net loan growth and deterioration in FOMC forecasted data points used in modeling for national unemployment and GDP growth. Forecasts for year-end 2025 GDP growth decreased 70 basis points compared to December 31, 2024, while forecasts for year-end 2025 unemployment increased 20 basis points compared to December 31, 2024. Partially offsetting the overall increase in the allowance was a $0.8 million decrease in allowance allocations for individually analyzed loans, due to commercial net charge-offs in the first half of 2025. Provision for credit losses as a percentage of period-end loan balances was 0.05% for both the second quarter of 2025 and for the first quarter of 2025. The allowance for credit losses on loans to total loans was 1.06% as of June 30, 2025 and 1.03% as of December 31, 2024 while the allowance for credit losses on loans was 275.16% of non-performing loans as of June 30, 2025 and 238.87% as of December 31, 2024.

    Balance Sheet Activity
    Total assets were $2.852 billion as of June 30, 2025, compared to $2.776 billion as of December 31, 2024, an increase of $76.3 million, or 2.7%. This increase was driven by increases of $273.0 million in cash and cash equivalents and $61.0 million in loans, net of deferred origination fees and costs, partially offset by decreases of $244.1 million in securities available for sale and $11.0 million in accrued interest receivable and other assets.

    Cash and cash equivalents increased largely due to proceeds of $227.3 million from the Corporation’s sale of available for sale securities in the second quarter of 2025. Cash balances as of June 30, 2025 were held almost entirely at the FRBNY and the Corporation utilized a portion of these proceeds to pay off wholesale funding which matured early in the third quarter of 2025. An increase of $72.1 million in total deposits, primarily due to inflows of municipal deposits, and proceeds from the Corporation’s issuance of subordinated debt in the second quarter of 2025, also contributed to the increase in cash and cash equivalents balances.

    Loans, net of deferred origination fees and costs increased mainly due to growth in commercial real estate balances. Total commercial loan balances increased $75.5 million, or 5.0%, compared to prior year-end, comprised of an increase of $80.5 million in commercial real estate balances, partially offset by a decrease of $5.0 million in commercial and industrial balances. Year-to-date commercial loan growth was relatively evenly distributed between the Bank’s Capital Bank and Canal Bank divisions in the Albany and Buffalo markets, respectively. Residential mortgages increased $3.2 million, or 1.2%, compared to the prior year-end, with overall year-to-date origination activity as of June 30, 2025 increasing compared to the same period in the prior year. Consumer loans decreased $17.7 million, or 6.3%, compared to the prior-year end, largely due to lower levels of indirect auto loan origination activity, and a relatively fast turnover rate in the portfolio, however origination activity increased toward the end of the second quarter as a result of a decrease in interest rates offered in the indirect lending program.

    Securities available for sale decreased primarily due to the Corporation’s ongoing strategic balance sheet repositioning, which included the sale of available for sale securities with a market value totaling $227.3 million in the second quarter of 2025. The sale of securities included the Corporation’s entire portfolio of U.S Treasury and SBA pooled-loan securities, as well as portions of the mortgage-backed securities and municipal bonds portfolios. Year-to-date net paydowns and maturities on available for sale securities totaled $28.3 million, largely on mortgage-backed and SBA pooled-loan securities. Partially offsetting the overall decrease in the available for sale securities portfolio was an increase of $12.6 million in the fair value of securities, mainly due to favorable changes in interest rates compared to December 31, 2024. Accrued interest receivable and other assets decreased largely due to a decrease in the fair value of interest rate swap assets, due to changes in interest rates.

    Total liabilities were $2.618 billion as of June 30, 2025, compared to $2.561 billion as of December 31, 2024, an increase of $56.7 million, or 2.2%. This increase was driven by increases of $72.1 million in total deposits and $44.1 million in subordinated debt, net of deferred issuance costs, partially offset by decreases of $54.3 million in advances and other debt and $5.0 million in accrued interest payable and other liabilities.

    Total deposits increased $72.1 million, or 3.0%, compared to the prior year-end, largely due to increases of $44.6 million in money market deposits and $41.6 million in interest-bearing demand deposits. Increases in these deposit types were primarily attributable to seasonal inflows of municipal deposits. Total time deposits decreased $5.4 million, consisting of a decrease of $13.3 million in customer time deposits partially offset by an increase of $7.8 million in brokered deposits. The decrease in customer time deposits was partially due to the maturity of previous CD campaign offerings which were not renewed. The Bank has continued to focus on shorter-duration CD campaigns, such as six and 15-month offerings, while also introducing a 36-month option in 2025 to broaden its product offerings. All of the Corporation’s brokered deposits matured in early July 2025 and were paid off in full using a portion of the proceeds from the previously mentioned securities sale. Excluding brokered deposits, total deposits increased $64.2 million from December 31, 2024. Additionally, savings deposits decreased $7.3 million while non interest-bearing demand deposits decreased $1.4 million from December 31, 2024. Non interest-bearing deposits comprised 25.3% and 26.1% of total deposits as of June 30, 2025 and December 31, 2024, respectively.

    Subordinated debt, net of deferred issuance costs, increased due to the issuance of $45.0 million in 7.75% fixed-to-floating rate notes in June 2025 in a private offering. There were $0.9 million in deferred issuance costs associated with the offering. The subordinated debt qualifies as tier 2 capital at the holding company and tier 1 capital at the Bank. Of the $45.0 million in subordinated debt issued, $37.0 million was downstreamed to the Bank, qualifying as tier 1 capital. The notes carry an original term of ten years and are redeemable by the Corporation beginning in June 2030, and beginning in June 2030 will float based on the then current Three-Month Term SOFR, plus 415 basis points. Further details regarding the offering can be found in the Corporation’s Form 8-K filed with the Securities and Exchange Commission on June 10, 2025.

    Advances and other debt decreased mainly due to increases in cash and cash equivalents and total deposits. Advances and other debt as of June 30, 2025 largely consisted of a $55.0 million two-month term advance from the FHLBNY, which matured in July 2025, whereas the composition of advances and other debt as of the prior year-end consisted primarily of FHLBNY overnight advances. The decrease in accrued interest payable and other liabilities was mainly due to a decrease in interest rate swap liabilities, due to changes in interest rates.

    Total shareholders’ equity was $235.0 million as of June 30, 2025, compared to $215.3 million as of December 31, 2024, an increase of $19.7 million, or 9.2%, driven by a decrease of $22.4 million in accumulated other comprehensive loss and partially offset by a decrease of $3.5 million in retained earnings. The decrease in accumulated other comprehensive loss was largely due to the reclassification of a portion of losses attributable to the available for sale securities portfolio into current period earnings, due to the Corporation’s sale of available for sale securities in the second quarter of 2025, as well as an increase in the fair value of securities available for sale, mainly due to favorable changes in market interest rates. The decrease in retained earnings was mainly due to a net loss for the six months ended June 30, 2025, due to the Corporation’s loss on the sale of available for sale securities, and dividends declared of $3.1 million during the six months ended June 30, 2025.

    The total equity to total assets ratio was 8.24% as of June 30, 2025, compared to 7.76% as of December 31, 2024, and the tangible equity to tangible assets ratio was 7.53% as of June 30, 2025, compared to 7.02% as of December 31, 2024.1 Book value per share and tangible book value per share increased to $48.85 and $44.31, respectively, as of June 30, 2025 from $45.13 and $40.55, respectively, as of December 31, 2024.1 The Corporation’s sale of securities available for sale did not impact book value per share or tangible book value per share. As of June 30, 2025, the Bank’s capital ratios were in excess of those required to be considered well-capitalized under the regulatory framework for prompt corrective action.

    1 See the GAAP to Non-GAAP reconciliations

    Liquidity
    The Corporation uses a variety of resources to manage its liquidity, and management believes it has the necessary liquidity to allow for flexibility in meeting its various operational and strategic needs. These include short-term investments, cash flow from lending and investing activities, core-deposit growth, and non-core funding sources, such as time deposits of $250,000 or greater, brokered deposits, FHLBNY overnight and term advances, and FRB advances. Borrowings may be used on a short-term basis for liquidity purposes or on a long-term basis to fund asset growth. As of June 30, 2025, the Corporation’s cash and cash equivalents balance was $320.1 million, largely consisting of the proceeds from the Corporation’s sale of a portion of the available for sale securities portfolio in the second quarter of 2025. The Corporation continues to maintain an investment portfolio of securities available for sale, comprised of government sponsored entity mortgage-backed securities, municipal bonds, and corporate bonds. Although this portfolio generates interest income for the Corporation, it also serves as an available source of liquidity and capital if needed. As of June 30, 2025, the Corporation’s investment in securities available for sale was $287.3 million, $74.2 million of which was not pledged as collateral. Additionally, as of June 30, 2025, the Bank’s total advance line capacity at the Federal Home Loan Bank of New York was $170.2 million, $55.0 million of which was utilized and $115.2 million of which was available as additional borrowing capacity.

    As of June 30, 2025, uninsured deposits totaled $694.3 million, or 28.1% of total deposits, including $187.4 million of municipal deposits collateralized by pledged assets, when required. As of December 31, 2024, uninsured deposits totaled $652.3 million, or 27.2% of total deposits, including $145.6 million of municipal deposits collateralized by pledged assets, when required. Due to their fluidity, the Corporation closely monitors uninsured deposit levels when considering liquidity management strategies.

    As of June 30, 2025, the Corporation had brokered deposits totaling $100.0 million, all of which matured in early July 2025. As part of its strategic balance sheet repositioning, the Corporation did not replace the brokered deposits at maturity, reflecting its efforts to reduce reliance on wholesale funding sources. The Corporation may use brokered deposits in the future either as a secondary source in funding asset growth or as an additional source of liquidity in supporting ongoing operations.

    Other Items
    The market value of total assets under management or administration in our Wealth Management Group was $2.313 billion as of June 30, 2025, including $334.0 million of assets under management or administration for the Corporation, compared to $2.212 billion as of December 31, 2024, including $301.9 million of assets under management or administration for the Corporation, an increase of $101.0 million, or 4.5%. Excluding assets under management or administration for the Corporation, total market value of Wealth Management Group assets increased $69.0 million, or 3.7%, largely due to improvements in financial markets during 2025, largely concentrated in the second quarter 2025.

    In April 2025, the Corporation completed the sale of its previous branch property on West Buffalo Street in Ithaca, New York, resulting in a pre-tax gain on the sale of $0.6 million. Branch operations had previously been consolidated into a nearby Ithaca branch in November 2024. The gain on the sale of this property has been excluded for the purposes of calculating certain non-GAAP metrics appearing elsewhere in this press release.

    As previously announced on January 8, 2021, the Corporation’s Board of Directors approved a stock repurchase program. Under the repurchase program, the Corporation may repurchase up to 250,000 shares of its common stock, or approximately 5% of its then outstanding shares. The repurchase program permits shares to be repurchased in open market or privately negotiated transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. As of June 30, 2025, a total of 49,184 shares of common stock at a total cost of $2.0 million were repurchased by the Corporation under its share repurchase program. No shares were repurchased in the second quarter of 2025. The weighted average cost was $40.42 per share repurchased. Remaining buyback authority under the share repurchase program was 200,816 shares as of June 30, 2025.

    About Chemung Financial Corporation
    Chemung Financial Corporation is a $2.9 billion financial services holding company headquartered in Elmira, New York and operates 30 retail offices through its principal subsidiary, Chemung Canal Trust Company, a full service community bank with trust powers. Established in 1833, Chemung Canal Trust Company is the oldest locally-owned and managed community bank in New York State. Chemung Financial Corporation is also the parent of CFS Group, Inc., a financial services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax preparation services, and insurance.

    This press release may be found at: www.chemungcanal.com under Investor Relations.

    Forward-Looking Statements
    This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act, and the Private Securities Litigation Reform Act of 1995. The Corporation intends its forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in this press release. All statements regarding the Corporation’s expected financial position and operating results, the Corporation’s business strategy, the Corporation’s financial plans, forecasted demographic and economic trends relating to the Corporation’s industry and similar matters are forward-looking statements. These statements can sometimes be identified by the Corporation’s use of forward-looking words such as “may,” “will,” “anticipate,” “estimate,” “expect,” or “intend.” The Corporation cannot guarantee that its expectations in such forward-looking statements will turn out to be correct. The Corporation’s actual results could be materially different from expectations because of various factors, including changes in economic conditions or interest rates, credit risk, inflation, tariffs, cybersecurity risks, changes in FDIC assessments, bank failures, difficulties in managing the Corporation’s growth, competition, changes in law or the regulatory environment, and changes in general business and economic trends.

    Information concerning these and other factors, including Risk Factors, can be found in the Corporation’s periodic filings with the Securities and Exchange Commission (“SEC”), including the 2024 Annual Report on Form 10-K. These filings are available publicly on the SEC’s website at http://www.sec.gov, on the Corporation’s website at http://www.chemungcanal.com or upon request from the Corporate Secretary at (607) 737-3746. Except as otherwise required by law, the Corporation undertakes no obligation to publicly update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

                         
    Chemung Financial Corporation                    
    Consolidated Balance Sheets (Unaudited)                    
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,
    (in thousands)   2025   2025   2024   2024   2024
    ASSETS                    
    Cash and due from financial institutions   $ 35,825     $ 32,087     $ 26,224     $ 36,247     $ 23,184  
    Interest-earning deposits in other financial institutions     284,226       21,348       20,811       44,193       47,033  
    Total cash and cash equivalents     320,051       53,435       47,035       80,440       70,217  
                         
    Equity investments     3,387       3,249       3,235       3,244       3,090  
                         
    Securities available for sale     287,335       528,327       531,442       554,575       550,927  
    Securities held to maturity     680       808       808       657       657  
    FHLB and FRB stock, at cost     6,826       8,040       9,117       4,189       5,506  
    Total investment securities     294,841       537,175       541,367       559,421       557,090  
                         
    Commercial     1,591,999       1,555,988       1,516,525       1,464,205       1,445,258  
    Residential mortgage     278,221       275,448       274,979       274,099       271,620  
    Consumer     262,194       266,200       279,915       290,650       294,594  
    Loans, net of deferred loan fees     2,132,414       2,097,636       2,071,419       2,028,954       2,011,472  
    Allowance for credit losses     (22,665 )     (22,522 )     (21,388 )     (21,441 )     (21,031 )
    Loans, net     2,109,749       2,075,114       2,050,031       2,007,513       1,990,441  
                         
    Loans held for sale     2,212       284       —       —       381  
    Premises and equipment, net     15,438       16,222       16,375       14,915       14,731  
    Operating lease right-of-use assets     5,139       5,332       5,446       5,637       5,827  
    Goodwill     21,824       21,824       21,824       21,824       21,824  
    Accrued interest receivable and other assets     79,847       84,090       90,834       81,221       92,212  
    Total assets   $ 2,852,488     $ 2,796,725     $ 2,776,147     $ 2,774,215     $ 2,755,813  
                         
    LIABILITIES AND SHAREHOLDERS’ EQUITY                    
    Deposits:                    
    Non interest-bearing demand deposits   $ 624,389     $ 619,645     $ 625,762     $ 616,126     $ 619,192  
    Interest-bearing demand deposits     348,169       339,790       306,536       349,383       328,370  
    Money market deposits     639,706       625,505       595,123       630,870       613,131  
    Savings deposits     238,228       249,541       245,550       242,911       248,528  
    Time deposits     618,470       598,915       623,912       611,831       606,700  
    Total deposits     2,468,962       2,433,396       2,396,883       2,451,121       2,415,921  
                         
    Advances and other debt     58,616       88,701       112,889       53,757       83,835  
    Subordinated debt, net of deferred issuance costs     44,146       —       —       —       —  
    Operating lease liabilities     5,319       5,516       5,629       5,820       6,009  
    Accrued interest payable and other liabilities     40,479       40,806       45,437       42,863       48,826  
    Total liabilities     2,617,522       2,568,419       2,560,838       2,553,561       2,554,591  
                         
    Shareholders’ equity                    
    Common stock     53       53       53       53       53  
    Additional paid-in capital     48,502       48,157       48,783       48,457       48,102  
    Retained earnings     244,211       252,195       247,705       243,266       239,021  
    Treasury stock, at cost     (15,095 )     (15,180 )     (16,167 )     (15,987 )     (16,043 )
    Accumulated other comprehensive loss     (42,705 )     (56,919 )     (65,065 )     (55,135 )     (69,911 )
    Total shareholders’ equity     234,966       228,306       215,309       220,654       201,222  
    Total liabilities and shareholders’ equity   $ 2,852,488     $ 2,796,725     $ 2,776,147     $ 2,774,215     $ 2,755,813  
                         
    Period-end shares outstanding     4,810       4,807       4,771       4,774       4,772  
                                             
    Chemung Financial Corporation                        
    Consolidated Statements of Income (Unaudited)                        
        Three Months Ended
     June 30,    		  
    Percent
    		   Six Months Ended
    June 30,    		  
    Percent
    (in thousands, except per share data)   2025   2024   Change   2025   2024   Change
    Interest and dividend income:                        
    Loans, including fees   $ 29,435     $ 27,514       7.0     $ 57,534     $ 54,712       5.2  
    Taxable securities     2,530       3,251       (22.2 )     5,553       6,808       (18.4 )
    Tax exempt securities     214       254       (15.7 )     465       512       (9.2 )
    Interest-earning deposits     855       367       133.0       1,180       573       105.9  
    Total interest and dividend income     33,034       31,386       5.3       64,732       62,605       3.4  
                             
    Interest expense:                        
    Deposits     11,076       12,711       (12.9 )     22,232       24,856       (10.6 )
    Borrowed funds     1,150       914       25.8       1,875       1,899       (1.3 )
    Total interest expense     12,226       13,625       (10.3 )     24,107       26,755       (9.9 )
                             
    Net interest income     20,808       17,761       17.2       40,625       35,850       13.3  
    Provision (credit) for credit losses     1,145       879       30.3       2,237       (1,161 )     292.7  
    Net interest income after provision for credit losses     19,663       16,882       16.5       38,388       37,011       3.7  
                             
    Non-interest income:                        
    Wealth management group fee income     2,993       2,860       4.7       5,860       5,563       5.3  
    Service charges on deposit accounts     1,114       964       15.6       2,234       1,913       16.8  
    Interchange revenue from debit card transactions     1,110       1,141       (2.7 )     2,147       2,204       (2.6 )
    Net gains (losses) on securities transactions     (17,498 )     —       N/M       (17,498 )     —       N/M  
    Change in fair value of equity investments     108       14       N/M       61       115       (47.0 )
    Net gains on sales of loans held for sale     51       39       30.8       91       71       28.2  
    Net gains (losses) on sales of other real estate owned     3       (3 )     200.0       (8 )     (3 )     (166.7 )
    Income from bank owned life insurance     8       10       (20.0 )     16       19       (15.8 )
    Other     1,406       573       145.4       2,281       1,373       66.1  
    Total non-interest income     (10,705 )     5,598       (291.2 )     (4,816 )     11,255       (142.8 )
                             
    Non-interest expense:                        
    Salaries and wages     7,579       6,823       11.1       14,788       13,839       6.9  
    Pension and other employee benefits     2,112       2,078       1.6       4,034       4,160       (3.0 )
    Other components of net periodic pension and postretirement benefits     (113 )     (232 )     51.3       (226 )     (464 )     51.3  
    Net occupancy     1,431       1,445       (1.0 )     2,964       2,938       0.9  
    Furniture and equipment     455       397       14.6       828       795       4.2  
    Data processing     2,563       2,297       11.6       5,097       4,870       4.7  
    Professional services     805       558       44.3       1,443       1,117       29.2  
    Marketing and advertising     351       388       (9.5 )     690       733       (5.9 )
    Other real estate owned expense     3       12       (75.0 )     14       61       (77.0 )
    FDIC insurance     434       516       (15.9 )     873       1,093       (20.1 )
    Loan expense     296       200       48.0       574       455       26.2  
    Other     1,853       1,737       6.7       3,617       3,320       8.9  
    Total non-interest expense     17,769       16,219       9.6       34,696       32,917       5.4  
                                                     
    Income before income tax expense     (8,811 )     6,261       (240.7 )     (1,124 )     15,349       (107.3 )
    Income tax expense     (2,359 )     1,274       (285.2 )     (695 )     3,312       (121.0 )
    Net income   $ (6,452 )   $ 4,987       (229.4 )   $ (429 )   $ 12,037       (103.6 )
                             
    Basic and diluted earnings per share   $ (1.35 )   $ 1.05         $ (0.09 )   $ 2.53      
    Cash dividends declared per share   $ 0.32     $ 0.31         $ 0.64     $ 0.62      
    Average basic and diluted shares outstanding     4,808       4,770           4,798       4,767      
                             
                             
    N/M – Not Meaningful                        
                             
    Chemung Financial Corporation   As of or for the Three Months Ended   As of or for the
    Six Months Ended
    Consolidated Financial Highlights (Unaudited)   June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except per share data)   2025   2025   2024   2024   2024   2025   2024
    RESULTS OF OPERATIONS                            
    Interest income   $ 33,034     $ 31,698     $ 32,597     $ 32,362     $ 31,386     $ 64,732     $ 62,605  
    Interest expense     12,226       11,881       12,776       13,974       13,625       24,107       26,755  
    Net interest income     20,808       19,817       19,821       18,388       17,761       40,625       35,850  
    Provision (credit) for credit losses     1,145       1,092       551       564       879       2,237       (1,161 )
    Net interest income after provision for credit losses     19,663       18,725       19,270       17,824       16,882       38,388       37,011  
    Non-interest income     (10,705 )     5,889       6,056       5,919       5,598       (4,816 )     11,255  
    Non-interest expense     17,769       16,927       17,823       16,510       16,219       34,696       32,917  
    Income before income tax expense     (8,811 )     7,687       7,503       7,233       6,261       (1,124 )     15,349  
    Income tax expense     (2,359 )     1,664       1,589       1,513       1,274       (695 )     3,312  
    Net income   $ (6,452 )   $ 6,023     $ 5,914     $ 5,720     $ 4,987     $ (429 )   $ 12,037  
                                                             
    Basic and diluted earnings per share   $ (1.35 )   $ 1.26     $ 1.24     $ 1.19     $ 1.05     $ (0.09 )   $ 2.53  
    Average basic and diluted shares outstanding     4,808       4,791       4,774       4,773       4,770       4,798       4,767  
    PERFORMANCE RATIOS                            
    Return on average assets     (0.92 %)     0.88 %     0.85 %     0.83 %     0.73 %     (0.03 %)     0.89 %
    Return on average equity     (11.29 %)     10.96 %     10.73 %     10.81 %     10.27 %     (0.38 %)     12.37 %
    Return on average tangible equity (a)     (12.48 %)     12.15 %     11.92 %     12.07 %     11.56 %     (0.42 %)     13.93 %
    Efficiency ratio (unadjusted) (e)     175.88 %     65.85 %     68.88 %     67.92 %     69.43 %     96.89 %     69.88 %
    Efficiency ratio (adjusted) (a)     65.69 %     65.64 %     68.64 %     67.69 %     69.19 %     65.67 %     69.64 %
    Non-interest expense to average assets     2.54 %     2.47 %     2.57 %     2.39 %     2.38 %     2.50 %     2.42 %
    Loans to deposits     86.37 %     86.20 %     86.42 %     82.78 %     83.26 %     86.37 %     83.26 %
    YIELDS / RATES – Fully Taxable Equivalent                                                        
    Yield on loans     5.61 %     5.49 %     5.61 %     5.65 %     5.52 %     5.55 %     5.51 %
    Yield on investments     2.27 %     2.26 %     2.29 %     2.21 %     2.27 %     2.26 %     2.31 %
    Yield on interest-earning assets     4.83 %     4.72 %     4.79 %     4.78 %     4.69 %     4.78 %     4.69 %
    Cost of interest-bearing deposits     2.45 %     2.48 %     2.67 %     2.88 %     2.86 %     2.47 %     2.80 %
    Cost of borrowings     4.90 %     4.54 %     4.74 %     5.08 %     5.04 %     4.76 %     5.10 %
    Cost of interest-bearing liabilities     2.57 %     2.55 %     2.73 %     2.97 %     2.94 %     2.56 %     2.90 %
    Cost of funds     1.94 %     1.92 %     2.04 %     2.24 %     2.20 %     1.93 %     2.16 %
    Interest rate spread     2.26 %     2.17 %     2.06 %     1.81 %     1.75 %     2.22 %     1.79 %
    Net interest margin, fully taxable equivalent     3.05 %     2.96 %     2.92 %     2.72 %     2.66 %     3.00 %     2.69 %
    CAPITAL                                                        
    Total equity to total assets at end of period     8.24 %     8.16 %     7.76 %     7.95 %     7.30 %     8.24 %     7.30 %
    Tangible equity to tangible assets at end of period (a)     7.53 %     7.44 %     7.02 %     7.22 %     6.56 %     7.53 %     6.56 %
    Book value per share   $ 48.85     $ 47.49     $ 45.13     $ 46.22     $ 42.17     $ 48.85     $ 42.17  
    Tangible book value per share (a)     44.31       42.95       40.55       41.65       37.59       44.31       37.59  
    Period-end market value per share     48.47       47.57       48.81       48.02       48.00       48.47       48.00  
    Dividends declared per share     0.32       0.32       0.31       0.31       0.31       0.64       0.62  
    AVERAGE BALANCES                                                        
    Loans and loans held for sale (b)   $ 2,108,557     $ 2,077,739     $ 2,046,270     $ 2,020,280     $ 2,009,823     $ 2,093,233     $ 1,999,504  
    Interest-earning assets     2,749,856       2,729,661       2,711,995       2,699,968       2,699,402       2,739,813       2,690,230  
    Total assets     2,802,226       2,784,414       2,761,875       2,751,392       2,740,967       2,793,369       2,732,679  
    Deposits     2,432,713       2,445,597       2,446,662       2,410,735       2,419,169       2,439,119       2,410,692  
    Total equity     229,161       222,802       219,254       210,421       195,375       225,999       195,618  
    Tangible equity (a)     207,337       200,978       197,430       188,597       173,551       204,175       173,794  
    ASSET QUALITY                                                        
    Net charge-offs   $ 992     $ 262     $ 594     $ 78     $ 306     $ 1,254     $ 488  
    Non-performing loans (c)     8,237       9,881       8,954       10,545       8,195       8,237       8,195  
    Non-performing assets (d)     8,447       10,282       9,606       11,134       8,872       8,447       8,872  
    Allowance for credit losses     22,665       22,522       21,388       21,441       21,031       22,665       21,031  
    Annualized net charge-offs to average loans     0.19 %     0.05 %     0.12 %     0.02 %     0.06 %     0.12 %     0.05 %
    Non-performing loans to total loans     0.39 %     0.47 %     0.43 %     0.52 %     0.41 %     0.39 %     0.41 %
    Non-performing assets to total assets     0.30 %     0.37 %     0.35 %     0.40 %     0.32 %     0.30 %     0.32 %
    Allowance for credit losses to total loans     1.06 %     1.07 %     1.03 %     1.06 %     1.05 %     1.06 %     1.05 %
    Allowance for credit losses to non-performing loans     275.16 %     227.93 %     238.87 %     203.33 %     256.63 %     275.16 %     256.63 %
                                                             
    (a) See the GAAP to Non-GAAP reconciliations.
    (b) Loans and loans held for sale do not reflect the allowance for credit losses.
    (c) Non-performing loans include nonaccrual loans only.
    (d) Non-performing assets include non-performing loans plus other real estate owned and repossessed vehicles.
    (e) Efficiency ratio (unadjusted) is non-interest expense divided by the total of net interest income plus non-interest income.
                                                             
    Chemung Financial Corporation
    Average Consolidated Balance Sheets & Net Interest Income Analysis and Rate/Volume Analysis of Net Interest Income (Unaudited)
                                         
        Three Months Ended
    June 30, 2025    		   Three Months Ended
     June 30, 2024    		   Three Months Ended
    June 30, 2025 vs. 2024
    (in thousands)   Average
    Balance    		   Interest   Yield /
    Rate    		   Average
    Balance    		   Interest   Yield /
    Rate    		   Total
    Change    		   Due to
    Volume    		   Due to
    Rate
                                         
    Interest-earning assets:                                    
    Commercial loans   $ 1,568,239     $ 22,909       5.86 %   $ 1,439,085     $ 21,005       5.87 %   $ 1,904     $ 1,939     $ (35 )
    Residential mortgage loans     276,391       2,847       4.13 %     273,482       2,569       3.76 %     278       27       251  
    Consumer loans     263,927       3,727       5.66 %     297,256       3,996       5.41 %     (269 )     (453 )     184  
    Taxable securities     533,573       2,533       1.90 %     620,201       3,254       2.11 %     (721 )     (421 )     (300 )
    Tax-exempt securities     31,967       239       3.00 %     39,567       276       2.81 %     (37 )     (55 )     18  
    Interest-earning deposits     75,759       855       4.53 %     29,811       367       4.95 %     488       521       (33 )
    Total interest-earning assets     2,749,856       33,110       4.83 %     2,699,402       31,467       4.69 %     1,643       1,558       85  
                                         
    Non interest-earning assets:                                    
    Cash and due from banks     25,005               25,054                      
    Other assets     49,911               37,120                      
    Allowance for credit losses     (22,546 )             (20,609 )                    
    Total assets   $ 2,802,226             $ 2,740,967                      
                                         
    Interest-bearing liabilities:                                    
    Interest-bearing checking   $ 334,957     $ 1,297       1.55 %   $ 305,620     $ 1,391       1.83 %   $ (94 )   $ 128     $ (222 )
    Savings and money market     867,723       4,237       1.96 %     854,456       4,317       2.03 %     (80 )     68       (148 )
    Time deposits     519,181       4,536       3.50 %     529,063       5,643       4.29 %     (1,107 )     (102 )     (1,005 )
    Brokered deposits     92,826       1,006       4.35 %     101,182       1,360       5.41 %     (354 )     (105 )     (249 )
    FHLBNY overnight advances     4,381       50       4.58 %     10,824       151       5.52 %     (101 )     (79 )     (22 )
    Term advances and other debt     79,413       893       4.51 %     61,809       763       4.96 %     130       204       (74 )
    Subordinated debt     10,254       207       8.10 %     —       —     N/A     207       207       —  
    Total interest-bearing liabilities     1,908,735       12,226       2.57 %     1,862,954       13,625       2.94 %     (1,399 )     321       (1,720 )
                                         
    Non interest-bearing liabilities:                                    
    Demand deposits     618,026               628,848                      
    Other liabilities     46,304               53,790                      
    Total liabilities     2,573,065               2,545,592                      
    Shareholders’ equity     229,161               195,375                      
    Total liabilities and shareholders’ equity   $ 2,802,226             $ 2,740,967                      
                                         
    Fully taxable equivalent net interest income         20,884               17,842         $ 3,042     $ 1,237     $ 1,805  
    Net interest rate spread (1)             2.26 %             1.75 %            
    Net interest margin, fully taxable equivalent (2)             3.05 %             2.66 %            
    Taxable equivalent adjustment         (76 )             (81 )                
    Net interest income       $ 20,808             $ 17,761                  
                                         
    (1) Net interest rate spread is the difference in the average yield on interest-earning assets less the average rate on interest-bearing liabilities.
    (2) Net interest margin is the ratio of fully taxable equivalent net interest income divided by average interest-earning assets.
     
    Chemung Financial Corporation
    Average Consolidated Balance Sheets & Net Interest Income Analysis and Rate/Volume Analysis of Net Interest Income (Unaudited)
                                         
        Six Months Ended
    June 30, 2025    		   Six Months Ended
    June 30, 2024    		   Six Months Ended
    June 30, 2025 vs. 2024
        Average
    Balance    		   Interest   Yield /
    Rate    		   Average
    Balance    		   Interest   Yield /
    Rate    		   Total
    Change    		   Due to
    Volume    		   Due to
    Rate
    (in thousands)                                    
    Interest-earning assets:                                    
    Commercial loans   $ 1,548,741     $ 44,605       5.81 %   $ 1,423,018     $ 41,647       5.89 %   $ 2,958     $ 3,543     $ (585 )
    Residential mortgage loans     275,960       5,548       4.05 %     275,571       5,166       3.75 %     382       6       376  
    Consumer loans     268,532       7,478       5.62 %     300,915       8,012       5.35 %     (534 )     (912 )     378  
    Taxable securities     558,952       5,559       2.01 %     626,747       6,814       2.19 %     (1,255 )     (713 )     (542 )
    Tax-exempt securities     34,846       518       3.00 %     39,916       558       2.81 %     (40 )     (76 )     36  
    Interest-earning deposits     52,782       1,180       4.51 %     24,063       573       4.79 %     607       642       (35 )
    Total interest-earning assets     2,739,813       64,888       4.78 %     2,690,230       62,770       4.69 %     2,118       2,490       (372 )
                                         
    Non interest-earning assets:                                    
    Cash and due from banks     25,527               25,154                      
    Other assets     50,083               38,893                      
    Allowance for credit losses     (22,054 )             (21,598 )                    
    Total assets   $ 2,793,369             $ 2,732,679                      
                                         
    Interest-bearing liabilities:                                    
    Interest-bearing checking   $ 335,556     $ 2,601       1.56 %   $ 306,758     $ 2,725       1.79 %   $ (124 )   $ 243     $ (367 )
    Savings and money market     863,354       8,103       1.89 %     859,785       8,583       2.01 %     (480 )     36       (516 )
    Time deposits     517,045       9,239       3.60 %     505,512       10,547       4.20 %     (1,308 )     234       (1,542 )
    Brokered deposits     102,777       2,289       4.49 %     111,295       3,001       5.42 %     (712 )     (220 )     (492 )
    FHLBNY overnight advances     12,535       285       4.58 %     22,849       639       5.53 %     (354 )     (256 )     (98 )
    Term advances and other debt     61,780       1,383       4.51 %     51,638       1,260       4.91 %     123       231       (108 )
    Subordinated debt     5,155       207       8.10 %     —       —     N/A     207       207       —  
    Total interest-bearing liabilities     1,898,202       24,107       2.56 %     1,857,837       26,755       2.90 %     (2,648 )     475       (3,123 )
                                         
    Non interest-bearing liabilities:                                    
    Demand deposits     620,387               627,342                      
    Other liabilities     48,781               51,882                      
    Total liabilities     2,567,370               2,537,061                      
    Shareholders’ equity     225,999               195,618                      
    Total liabilities and shareholders’ equity   $ 2,793,369             $ 2,732,679                      
                                         
    Fully taxable equivalent net interest income         40,781               36,015         $ 4,766     $ 2,015     $ 2,751  
    Net interest rate spread (1)             2.22 %             1.79 %            
    Net interest margin, fully taxable equivalent (2)             3.00 %             2.69 %            
    Taxable equivalent adjustment         (156 )             (165 )                
    Net interest income       $ 40,625             $ 35,850                  
                                         
    (1) Net interest rate spread is the difference in the average yield on interest-earning assets less the average rate on interest-bearing liabilities.
    (2) Net interest margin is the ratio of fully taxable equivalent net interest income divided by average interest-earning assets.
     
    Chemung Financial Corporation
    Average Consolidated Balance Sheets & Net Interest Income Analysis and Rate/Volume Analysis of Net Interest Income (Unaudited)
                                         
        Three Months Ended
    June 30, 2025    		   Three Months Ended
    March 31, 2025    		   Three Months Ended
    June 30, 2025 vs. March 31, 2025
        Average
    Balance    		   Interest   Yield /
    Rate    		   Average
    Balance    		   Interest   Yield /
    Rate    		   Total
    Change    		   Due to
    Volume    		   Due to
    Rate
    (in thousands)                                    
    Interest-earning assets:                                    
    Commercial loans   $ 1,568,239     $ 22,909       5.86 %   $ 1,529,028     $ 21,696       5.75 %   $ 1,213     $ 695     $ 518  
    Residential mortgage loans     276,391       2,847       4.13 %     275,524       2,701       3.98 %     146       12       134  
    Consumer loans     263,927       3,727       5.66 %     273,187       3,751       5.57 %     (24 )     (99 )     75  
    Taxable securities     533,573       2,533       1.90 %     584,614       3,026       2.10 %     (493 )     (235 )     (258 )
    Tax-exempt securities     31,967       239       3.00 %     37,758       279       3.00 %     (40 )     (40 )     —  
    Interest-earning deposits     75,759       855       4.53 %     29,550       325       4.46 %     530       525       5  
    Total interest-earning assets     2,749,856       33,110       4.83 %     2,729,661       31,778       4.72 %     1,332       858       474  
                                         
    Non interest-earning assets:                                    
    Cash and due from banks     25,005               26,055                      
    Other assets     49,911               50,256                      
    Allowance for credit losses     (22,546 )             (21,558 )                    
    Total assets   $ 2,802,226             $ 2,784,414                      
                                         
    Interest-bearing liabilities:                                    
    Interest-bearing checking   $ 334,957     $ 1,297       1.55 %   $ 336,162     $ 1,303       1.57 %   $ (6 )   $ (1 )   $ (5 )
    Savings and money market     867,723       4,237       1.96 %     858,937       3,866       1.83 %     371       47       324  
    Time deposits     519,181       4,536       3.50 %     514,884       4,704       3.71 %     (168 )     48       (216 )
    Brokered deposits     92,826       1,006       4.35 %     112,840       1,283       4.61 %     (277 )     (210 )     (67 )
    FHLBNY overnight advances     4,381       50       4.58 %     20,781       236       4.61 %     (186 )     (184 )     (2 )
    Term advances and other debt     79,413       893       4.51 %     43,950       489       4.51 %     404       404       —  
    Subordinated debt     10,254       207       8.10 %     —       —     N/A     207       207       —  
    Total interest-bearing liabilities     1,908,735       12,226       2.57 %     1,887,554       11,881       2.55 %     345       311       34  
                                         
    Non interest-bearing liabilities:                                    
    Demand deposits     618,026               622,774                      
    Other liabilities     46,304               51,284                      
    Total liabilities     2,573,065               2,561,612                      
    Shareholders’ equity     229,161               222,802                      
    Total liabilities and shareholders’ equity   $ 2,802,226             $ 2,784,414                      
                                         
    Fully taxable equivalent net interest income         20,884               19,897         $ 987     $ 547     $ 440  
    Net interest rate spread (1)             2.26 %             2.17 %            
    Net interest margin, fully taxable equivalent (2)             3.05 %             2.96 %            
    Taxable equivalent adjustment         (76 )             (80 )                
    Net interest income       $ 20,808             $ 19,817                  
                                         
    (1) Net interest rate spread is the difference in the average yield on interest-earning assets less the average rate on interest-bearing liabilities.
    (2) Net interest margin is the ratio of fully taxable equivalent net interest income divided by average interest-earning assets.
     

    Chemung Financial Corporation

    GAAP to Non-GAAP Reconciliations (Unaudited)

    The Corporation prepares its Consolidated Financial Statements in accordance with GAAP. See the Corporation’s unaudited consolidated balance sheets and statements of income contained within this press release. That presentation provides the reader with an understanding of the Corporation’s results that can be tracked consistently from period-to-period and enables a comparison of the Corporation’s performance with other companies’ GAAP financial statements.

    In addition to analyzing the Corporation’s results on a reported basis, management uses certain non-GAAP financial measures, because it believes these non-GAAP financial measures provide information to investors about the underlying operational performance and trends of the Corporation and, therefore, facilitate a comparison of the Corporation with the performance of other companies. Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies.

    The SEC has adopted Regulation G, which applies to all public disclosures, including earnings releases, made by registered companies that contain “non-GAAP financial measures.” Under Regulation G, companies making public disclosures containing non-GAAP financial measures must also disclose, along with each non-GAAP financial measure, certain additional information, including a reconciliation of the non-GAAP financial measure to the closest comparable GAAP financial measure and a statement of the Corporation’s reasons for utilizing the non-GAAP financial measure as part of its financial disclosures. The SEC has exempted from the definition of “non-GAAP financial measures” certain commonly used financial measures that are not based on GAAP. When these exempted measures are included in public disclosures, supplemental information is not required. The following measures used in this Report, which are commonly utilized by financial institutions, have not been specifically exempted by the SEC and may constitute “non-GAAP financial measures” within the meaning of the SEC’s rules, although we are unable to state with certainty that the SEC would so regard them.

    Fully Taxable Equivalent Net Interest Income and Net Interest Margin

    Net interest income is commonly presented on a tax-equivalent basis. That is, to the extent that some component of the institution’s net interest income, which is presented on a before-tax basis, is exempt from taxation (e.g., is received by the institution as a result of its holdings of state or municipal obligations), an amount equal to the tax benefit derived from that component is added to the actual before-tax net interest income total. This adjustment is considered helpful in comparing one financial institution’s net interest income to that of other institutions or in analyzing any institution’s net interest income trend line over time, to correct any analytical distortion that might otherwise arise from the fact that financial institutions vary widely in the proportions of their portfolios that are invested in tax-exempt securities, and that even a single institution may significantly alter over time the proportion of its own portfolio that is invested in tax-exempt obligations. Moreover, net interest income is itself a component of a second financial measure commonly used by financial institutions, net interest margin, which is the ratio of net interest income to average interest-earning assets. For purposes of this measure as well, fully taxable equivalent net interest income is generally used by financial institutions, as opposed to actual net interest income, again to provide a better basis of comparison from institution to institution and to better demonstrate a single institution’s performance over time. The Corporation follows these practices.

                            As of or for the
        As of or for the Three Months Ended   Six Months Ended
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except ratio data)   2025   2025   2024   2024   2024   2025   2024
    NET INTEREST MARGIN – FULLY TAXABLE EQUIVALENT                            
    Net interest income (GAAP)   $20,808     $19,817     $19,821     $18,388     $17,761     $40,625     $35,850  
    Fully taxable equivalent adjustment     76       80       88       83       81       156       165  
    Fully taxable equivalent net interest income (non-GAAP)   $20,884     $19,897     $19,909     $18,471     $17,842     $40,781     $36,015  
                                 
    Average interest-earning assets (GAAP)   $2,749,856     $2,729,661     $2,711,995     $2,699,968     $2,699,402     $2,739,813     $2,690,230  
                                 
    Net interest margin – fully taxable equivalent (non-GAAP)     3.05 %     2.96 %     2.92 %     2.72 %     2.66 %     3.00 %     2.69 %
                                                             

    Efficiency Ratio

    The unadjusted efficiency ratio is calculated as non-interest expense divided by total revenue (net interest income and non-interest income). The adjusted efficiency ratio is a non-GAAP financial measure which represents the Corporation’s ability to turn resources into revenue and is calculated as non-interest expense divided by total revenue (fully taxable equivalent net interest income and non-interest income), adjusted for one-time occurrences and amortization. This measure is meaningful to the Corporation, as well as investors and analysts, in assessing the Corporation’s productivity measured by the amount of revenue generated for each dollar spent.

                            As of or for the
        As of or for the Three Months Ended   Six Months Ended
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except ratio data)   2025   2025   2024   2024   2024   2025   2024
    EFFICIENCY RATIO                            
    Net interest income (GAAP)   $20,808     $19,817     $19,821     $18,388     $17,761     $40,625     $35,850  
    Fully taxable equivalent adjustment     76       80       88       83       81       156       165  
    Fully taxable equivalent net interest income (non-GAAP)   $20,884     $19,897     $19,909     $18,471     $17,842     $40,781     $36,015  
                                 
    Non-interest income (GAAP)   $(10,705 )   $5,889     $6,056     $5,919     $5,598     $(4,816 )   $11,255  
    Less: net (gains) losses on security transactions     17,498       —       —       —       —       17,498       —  
    Less: (gain) loss on sale of branch property (net of tax)     (629 )     —       —       —       —       (629 )     —  
    Adjusted non-interest income (non-GAAP)   $6,164     $5,889     $6,056     $5,919     $5,598     $12,053     $11,255  
                                 
    Non-interest expense (GAAP)   $17,769     $16,927     $17,823     $16,510     $16,219     $34,696     $32,917  
                                 
    Efficiency ratio (unadjusted)     175.88 %     65.85 %     68.88 %     67.92 %     69.43 %     96.89 %     69.88 %
    Efficiency ratio (adjusted)     65.69 %     65.64 %     68.64 %     67.69 %     69.19 %     65.67 %     69.64 %
                                                             

    Tangible Equity and Tangible Assets (Period-End)

    Tangible equity, tangible assets, and tangible book value per share are each non-GAAP financial measures. Tangible equity represents the Corporation’s stockholders’ equity, less goodwill and intangible assets. Tangible assets represents the Corporation’s total assets, less goodwill and other intangible assets. Tangible book value per share represents the Corporation’s tangible equity divided by common shares at period-end. These measures are meaningful to the Corporation, as well as investors and analysts, in assessing the Corporation’s use of equity.

                            As of or for the
        As of or for the Three Months Ended   Six Months Ended
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except per share and ratio data)   2025   2025   2024   2024   2024   2025   2024
    TANGIBLE EQUITY AND TANGIBLE ASSETS                            
    (PERIOD END)                            
    Total shareholders’ equity (GAAP)   $ 234,966     $ 228,306     $ 215,309     $ 220,654     $ 201,222     $ 234,966     $ 201,222  
    Less: intangible assets     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )
    Tangible equity (non-GAAP)   $ 213,142     $ 206,482     $ 193,485     $ 198,830     $ 179,398     $ 213,142     $ 179,398  
                                 
    Total assets (GAAP)   $ 2,852,488     $ 2,796,725     $ 2,776,147     $ 2,774,215     $ 2,755,813     $ 2,852,488     $ 2,755,813  
    Less: intangible assets     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )
    Tangible assets (non-GAAP)   $ 2,830,664     $ 2,774,901     $ 2,754,323     $ 2,752,391     $ 2,733,989     $ 2,830,664     $ 2,733,989  
                                 
    Total equity to total assets at end of period (GAAP)     8.24 %     8.16 %     7.76 %     7.95 %     7.30 %     8.24 %     7.30 %
    Book value per share (GAAP)   $ 48.85     $ 47.49     $ 45.13     $ 46.22     $ 42.17     $ 48.85     $ 42.17  
                                 
    Tangible equity to tangible assets at end of period (non-GAAP)     7.53 %     7.44 %     7.02 %     7.22 %     6.56 %     7.53 %     6.56 %
    Tangible book value per share (non-GAAP)   $ 44.31     $ 42.95     $ 40.55     $ 41.65     $ 37.59     $ 44.31     $ 37.59  
                                                             

    Tangible Equity (Average)

    Average tangible equity and return on average tangible equity are each non-GAAP financial measures. Average tangible equity represents the Corporation’s average stockholders’ equity, less average goodwill and intangible assets for the period. Return on average tangible equity measures the Corporation’s earnings as a percentage of average tangible equity. These measures are meaningful to the Corporation, as well as investors and analysts, in assessing the Corporation’s use of equity.

                            As of or for the
        As of or for the Three Months Ended   Six Months Ended
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except ratio data)   2025   2025   2024   2024   2024   2025   2024
    TANGIBLE EQUITY (AVERAGE)                            
    Total average shareholders’ equity (GAAP)   $ 229,161     $ 222,802     $ 219,254     $ 210,421     $ 195,375     $ 225,999     $ 195,618  
    Less: average intangible assets     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )     (21,824 )
    Average tangible equity (non-GAAP)   $ 207,337     $ 200,978     $ 197,430     $ 188,597     $ 173,551     $ 204,175     $ 173,794  
                                 
    Return on average equity (GAAP)     (11.29 %)     10.96 %     10.73 %     10.81 %     10.27 %     (0.38 %)     12.37 %
    Return on average tangible equity (non-GAAP)     (12.48 %)     12.15 %     11.92 %     12.07 %     11.56 %     (0.42 %)     13.93 %
                                                             

    Adjustments for Certain Items of Income or Expense

    In addition to disclosures of certain GAAP financial measures, including net income, EPS, ROA, and ROE, we may also provide comparative disclosures that adjust these GAAP financial measures for a particular period by removing from the calculation thereof the impact of certain transactions or other material items of income or expense occurring during the period, including certain nonrecurring items. The Corporation believes that the resulting non-GAAP financial measures may improve an understanding of its results of operations by separating out any such transactions or items that may have had a disproportionate positive or negative impact on the Corporation’s financial results during the particular period in question. In the Corporation’s presentation of any such non-GAAP (adjusted) financial measures not specifically discussed in the preceding paragraphs, the Corporation supplies the supplemental financial information and explanations required under Regulation G.

                            As of or for the
        As of or for the Three Months Ended   Six Months Ended
        June 30,   March 31,   Dec. 31,   Sept. 30,   June 30,   June 30,   June 30,
    (in thousands, except per share and ratio data)   2025   2025   2024   2024   2024   2025   2024
    NON-GAAP NET INCOME                            
    Reported net income (GAAP)   $ (6,452 )   $ 6,023     $ 5,914     $ 5,720     $ 4,987     $ (429 )   $ 12,037  
    Net (gains) losses on security transactions (net of tax)     13,237       —       —       —       —       13,237       —  
    Net (gain) loss on sale of branch property (net of tax)     (463 )     —       —       —       —       (463 )     —  
    Net income (non-GAAP)   $ 6,322     $ 6,023     $ 5,914     $ 5,720     $ 4,987     $ 12,345     $ 12,037  
                                 
    Average basic and diluted shares outstanding     4,808       4,791       4,774       4,773       4,770       4,798       4,767  
                                 
    Reported basic and diluted earnings per share (GAAP)   $ (1.35 )   $ 1.26     $ 1.24     $ 1.19     $ 1.05     $ (0.09 )   $ 2.53  
    Reported return on average assets (GAAP)     (0.92 %)     0.88 %     0.85 %     0.83 %     0.73 %      (0.03 %)     0.89 %
    Reported return on average equity (GAAP)     (11.29 %)     10.96 %     10.73 %     10.81 %     10.27 %     (0.38 %)     12.37 %
                                 
    Basic and diluted earnings per share (non-GAAP)   $ 1.31     $ 1.26     $ 1.24     $ 1.19     $ 1.05     $ 2.57     $ 2.53  
    Return on average assets (non-GAAP)     0.90 %     0.88 %     0.85 %     0.83 %     0.73 %     0.89 %     0.89 %
    Return on average equity (non-GAAP)     11.07 %     10.96 %     10.73 %     10.81 %     10.27 %     11.02 %     12.37 %
                                                             

    For further information contact:
    Dale M. McKim, III, EVP and CFO
    dmckim@chemungcanal.com
    Phone: 607-737-3714

    Category: Financial

    Source: Chemung Financial Corp

    The MIL Network –

  • MIL-OSI: onsemi to Announce Second Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Ariz., July 17, 2025 (GLOBE NEWSWIRE) — onsemi (Nasdaq: ON) plans to announce its financial results for the second quarter, which ended July 4, 2025, before the market opens on Monday, August 4, 2025.

    The company will host a conference call at 9 a.m. Eastern Time (ET) on August 4, 2025, following the release of its financial results. Investors and interested parties can access the conference call in the following manner:

    • Webcast: A live webcast of the conference call will be available via the “Investor Relations” section of the company’s website at http://www.onsemi.com. The re-broadcast of the call will be available at this site approximately one hour following the live broadcast and will remain available for 30 days.
    • Teleconference: Investors and interested parties can also access the conference call by pre-registering here.


    About onsemi

    onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner, and smarter world. onsemi is included in the Nasdaq-100 Index® and S&P 500® index. Learn more about onsemi at www.onsemi.com.

    onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

    Contacts
            
    Krystal Heaton
    Director, Head of Public Relations
    onsemi
    (480) 242-6943
    Krystal.Heaton@onsemi.com

    Parag Agarwal
    Vice President – Investor Relations & Corporate Development
    onsemi
    (602) 244-3437
    investor@onsemi.com                                        

    The MIL Network –

  • MIL-OSI: NI Holdings, Inc. Announces Leadership Appointment

    Source: GlobeNewswire (MIL-OSI)

    FARGO, N.D., July 17, 2025 (GLOBE NEWSWIRE) — NI Holdings, Inc. (the “Company”, NASDAQ: NODK) today announced a strategic leadership appointment to support the Company’s long-term growth and execution of its core business strategies.

    Kelly Dawson has recently joined the Company as Senior Vice President and Chief Human Resources Officer. In this newly created role, Kelly will have oversight of all aspects of human resources, including talent acquisition, employee engagement, compliance and organizational development. She brings over 20 years of human resources experience, including leadership roles at multiple companies. She holds a master’s degree from Claremont Graduate University and an undergraduate degree from Stetson University.

    “We’re thrilled to welcome Kelly to both the Company and our leadership team,” said Seth Daggett, President and Chief Executive Officer. “Bringing Kelly on board is a meaningful step in our ongoing commitment to attracting, developing and retaining exceptional talent that will help support the Company’s initiatives. Kelly’s deep and diverse experience will be a tremendous asset as we continue to execute on our strategic priorities.”

    Securities and Exchange Commission (SEC) Filings
    The Company’s Quarterly Report on Form 10-Q and latest financial supplement can be found on the Company’s website at www.niholdingsinc.com. The Company’s filings with the SEC can also be found at www.sec.gov.

    About the Company
    NI Holdings, Inc. is an insurance holding company. The Company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. NI Holdings’ financial statements are the consolidated financial results of NI Holdings; Nodak Insurance, including Nodak’s wholly-owned subsidiaries American West Insurance Company, Primero Insurance Company, and Battle Creek Insurance Company; Direct Auto Insurance Company; and Westminster Insurance Company until the date of sale.

    Safe Harbor Statement
    Some of the statements included in this news release particularly those relating to the company’s strategies and growth, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include: our ability to maintain profitable operations, the adequacy of the loss and loss adjustment expense reserves, business and economic conditions, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, adverse and catastrophic weather events, including the impacts of climate change, legal and judicial developments, changes in regulatory requirements, our ability to integrate and manage successfully the insurance companies we may acquire from time to time, the impact of inflation on our operating results, and other risks we describe in the periodic reports we file with the SEC. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.

    Investor Relations Contact:
    Matt Maki
    Executive Vice President, Treasurer and Chief Financial Officer
    701-212-5976
    IR@nodakins.com

    The MIL Network –

  • MIL-OSI: Trupanion Announces Second Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, July 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 second quarter after the market closes on Thursday, August 7, 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 1-844-676-1342 (United States) or 1-412-634-6683 (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: 10200168.

    About Trupanion

    Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, and certain countries in Continental Europe 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 or GPIC 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. For more information, please visit trupanion.com.

    Contacts 

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

    The MIL Network –

  • MIL-OSI: South Plains Financial, Inc. Announces 7% Increase to Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    LUBBOCK, Texas, July 17, 2025 (GLOBE NEWSWIRE) — South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share of common stock, a 7% increase from the most recent quarterly cash dividend declared in April 2025. The dividend is payable on August 11, 2025 to shareholders of record as of the close of business on July 28, 2025.

    About South Plains Financial, Inc.

    South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

    Contact:

    		 Mikella Newsom, Chief Risk Officer and Secretary
      investors@city.bank
      (866) 771-3347
       
       

    Source: South Plains Financial, Inc.

    The MIL Network –

  • MIL-OSI USA: Oregon Delegation Slam Trump Education Funding Cuts Harming Schools Across the State

    Source: US Representative Val Hoyle (OR-04)

    July 17, 2025

    For Immediate Release: July 17, 2025 

    WASHINGTON, D.C.  – Today, U.S. Representative Val Hoyle (OR-04) joined the rest the Oregon’s democratic federal delegation to demand the Trump Administration reverse its abrupt cutoff of more than $73 million in federal education funds for Oregon, harming afterschool programs, specialized literacy programs, educator training, and support for English language learners at schools.

    “Any withholding of these critical funds will negatively affect the State of Oregon’s efforts to increase academic outcomes for all our students, particularly our multilingual and migrant education students. It will undermine successful initiatives to recruit talented teachers and retain them in our schools, and it will undermine the ability for students to be taught in safe and secure environments. Additionally, withholding funds that support student learning through summer and after-school programs will undermine Oregon’s efforts to help all students thrive in their education,” wrote the lawmakers to Office of Management and Budget (OMB) Director Russ Vought and U.S. Secretary of Education Linda McMahon.

    The Oregon delegation letter follows Oregon Attorney General Dan Rayfield announcing the state joined a coalition of states to file a lawsuit challenging the Trump Administration’s freezing of these federal education funds. The Administration this week also moved to fire 1,400 Education Department employees, impacting the agency’s ability to perform essential functions such as distributing financial aid and essential federal dollars.

    “Oregon’s school districts are dedicated and efficient stewards of federal dollars, leveraging funds from [these grant programs] to improve student outcomes and serve Oregon’s student population,” they continued. “For example, Neah-Kah-Nie School District in rural Tillamook County uses ESEA Title II, Part A dollars to fund literacy interventionists in their rural elementary schools so students struggling with reading, writing, and comprehension get targeted support. Without Title II dollars, Portland Public Schools, Oregon’s largest school district serving more than 44,000 students, will lose the ability to provide critical professional development and support for teachers working in low-income schools with challenging student needs.”

    The lawmakers stressed, “In addition, Hood River Valley School District uses a 21st Century Community Learning Center grant under ESEA Title IV to administer academic support in after-school programs at four Title I schools across this rural region. Similarly, Umatilla School District uses the funds for an after-school program that supports extended learning for roughly half of its K-12 students and provides an opportunity for the students to participate in robotics and a variety of STEAM-focused classes.”

    Merkley and Wyden also previously joined 30 Senate colleagues to demand OMB Director Vought and Secretary McMahon immediately release nearly $7 billion in frozen funding for K-12 schools and adult literacy programs nationwide.

    “We respectfully demand that you abide by the law and immediately release this previously appropriated funding. Oregon’s students are counting on you and so are we,” the lawmakers directed.

    Full text of the Oregon delegation’s letter can be found HERE.

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    MIL OSI USA News –

  • MIL-OSI Canada: Prime Minister engages First Nations Rights Holders on the Building Canada Act

    Source: Government of Canada – Prime Minister

    Canada’s new government is ready to get our country building major projects again – and projects built in collaboration with Indigenous Peoples will be at the forefront of this work.

    To that end, the Prime Minister, Mark Carney, convened the First Nations Major Projects Summit in Gatineau, Québec, to engage First Nations groups on the Building Canada Act and how to most effectively build major projects in partnership with Indigenous Peoples. Over 250 First Nations leaders, regional organizations, and other Rights Holders’ representatives attended the meeting in person and virtually to share their insights, ideas, and priorities.

    The Prime Minister heard from First Nations and discussed how the Building Canada Act was designed to transform the Canadian economy and contribute to greater prosperity for Indigenous communities, through equity and resource management projects. To ensure that these major projects are built in partnership with Indigenous Peoples, the federal government is moving forward with several new measures, including:

    • Standing up an Indigenous Advisory Council that will closely work with the new Major Federal Projects Office. Comprised of First Nations, Inuit, Métis, as well as Modern Treaty and Self-Government representatives, the Advisory Council will help ensure Indigenous perspectives and priorities are integrated at each stage.
    • Dedicating $40 million in funding for Indigenous participation. From early discussions on which projects to include to ongoing governance and capacity-building, new funding streams will support meaningful participation of Indigenous leadership in nation-building projects.
    • Expanding the Indigenous Loan Guarantee Program. The government has doubled the program to $10 billion to help unlock capital for Indigenous communities to gain full equity ownership in major nation-building projects.

    Collaboration will continue with First Nations leadership at all levels through regional dialogue tables. The Prime Minister will soon meet separately with the Inuit-Crown Partnership Committee and Métis leadership to further advance these conversations on a distinctions basis.

    Quotes

    “It’s time to build big projects that will transform and connect our economy. Central to this mission is shared leadership with Indigenous Peoples. Working in partnership, we can seize this opportunity and build lasting prosperity for generations.”

    “This Summit marks a turning point. The One Canadian Economy Act is not just about inclusion – it’s about recognizing that prosperity comes when First Nations are full partners in shaping the future. Together, we are building an economy that reflects our shared values, our shared responsibilities, and our shared potential.”

    “Today represents a historic opportunity. Together, we’re beginning the work of building a better future, one in which Indigenous economies and priorities are truly integrated into the national economy. By listening, engaging, and learning in the spirit of true partnership, we are taking the first steps toward that brighter, more equitable future.”

    “The One Canadian Economy Act is designed to build Canada strong – building economic resilience here at home while ensuring that First Nations, and all Canadians, benefit. To achieve our objectives, we will – and must – look to advance the interests of Indigenous communities. That is the only path to shared success. The First Nations Major Projects Summit marks the first step in that process – setting the stage to create lasting economic opportunities for First Nations across Canada.”

    “It’s time to build major energy and resource projects again in Canada to strengthen our economy and secure our sovereignty in the face of threats. A key part of how we will do this successfully is transforming how we think about First Nations partnership. First Nations are not just participants in our economy – they are the original stewards of this land, Rights Holders, governments, and builders. With meaningful collaboration as partners, they enable us to build better. It’s clear: if we are serious about retooling our economy, then reconciliation must be front and centre, not just at today’s Summit, but in perpetuity.”

    Quick facts

    • Central to the Building Canada Act is Indigenous consultation, participation, equity, and partnership. The Act requires meaningful consultation on which projects are deemed in the national interest and on the conditions that projects will have to meet.
    • The Government of Canada will advance nation-building projects while respecting the rights of Indigenous Peoples recognized and affirmed by Section 35 of the Constitution Act, 1982, and the rights set out in the United Nations Declaration on the Rights of Indigenous Peoples, including the principle of free, prior, and informed consent.
    • The Canada Indigenous Loan Guarantee Corporation is responsible for managing the Indigenous Loan Guarantee Program. Loan guarantees are available to support Indigenous equity participation in projects of various sizes, reflecting the diversity of opportunities and economic development priorities in Indigenous communities across Canada.
    • By advancing national interest projects, the Government of Canada is committed to working in partnership with Indigenous Peoples to support economic prosperity, grounded in respect for constitutionally protected rights and modern treaty obligations.

    MIL OSI Canada News –