MIL-OSI Submissions: How women are trapped in years of homelessness that often begin in their teens

Source: The Conversation – Canada – By Mary Vaccaro, Lecturer in Social Work, McMaster University

Many women without children in their care who become homeless in Canada remain homeless for many years. Yet their experiences remain misunderstood and largely ignored because of the ways we define and measure homelessness in Canada.

I have worked in the women’s emergency shelter system in Hamilton, Ont., since 2012. I have met many women who have been navigating homelessness for years — with no permanent solution to their housing crisis. For my PhD in social work, I interviewed 21 women who had experienced homelessness for a year or longer in Hamilton. I asked them about their experiences, and through art-based activities, about their ideas for housing and support.

What I learned in the interviews, combined with existing research, highlights a hidden crisis. Within our current system resides a profound human cost that manages, instead of resolves, homelessness.

Many women who experience homelessness do so for far longer than the federal government’s definition of chronic homelessness, which is six consecutive months or 18 months over three years. Research from the United Kingdom that focuses on long-term and unresolved homelessness for women found that the ways women experience homelessness is to “go around in circles” without having their housing or support needs met.

Among the women I spoke with, more than half had been experiencing homelessness for 10 years or longer. Six of the the women said they have never had a safe place of their own to live for the entirety of their adult lives.

All of the women who participated in this project accessed the services offered by the homeless serving sector, including shelters and outreach workers, designed to resolve their homelessness. Yet none of these women were able to have their housing and support needs met.

This means their experience of homelessness has persisted for years, and even decades.

Homelessness often starts in their teens

More than half of the participants I spoke with first experienced homelessness before they turned 18. Their primary route into youth homelessness was gender-based violence. They ran away from home when they were teenaged girls to escape violence and became caught in a cycle of events that include: hospitalization, incarceration, staying in youth shelters, living in group homes and unsafe places.

The Pan-Canadian Women’s Housing and Homelessness Survey, as well as a study on Toronto youth, echo what the women I spoke with told me. Studies from the United States also confirm similar patterns — homelessness begins early in life for a majority of women, and is often followed by a chronic, chaotic churn of precarious housing and homelessness situations.

The women in my study described a frustrating and exhausting cycle of going among institutions such as hospitals, jails, emergency shelters, drop-in programs and transitional housing programs. They had all spent periods of time living outdoors, in encampments, in motels, with unsafe people and in other precarious and temporary housing arrangements. This phenomena is well-documented in existing Canadian research.

Better definitions, better data

The Canadian government defines those who have been homeless and using shelters for more than 180 days a year as experiencing “acute chronicity.”

Another term used by the federal government for individuals who have accessed shelters at least once in each of the last three years is “prolonged instability.”

People who meet one or both of these criteria are considered to have the highest housing needs in the country.

According to recent federal data, women and gender-diverse people across Canada experience slightly higher rates of acute chronicity than men (13.4 per cent for men, 15.4 per cent for women, and 13.9 per cent for gender-diverse people). But the real numbers for women are likely much higher due to under-reporting.

Research shows women remain invisible to official systems during periods of homelessness. For example, the available data relies solely on information about emergency shelter usage. It does not capture experiences of homelessness that occur outside of the shelter system.

Women are less likely than their male counterparts to access shelters and other formal supports. Instead, they rely on precarious, unsafe and temporary housing arrangements to navigate homelessness.

In Canada, there are also fewer emergency women-specific shelter beds than for men

Rethinking responses to long-term homelessness

For the women I spoke with, the official 180 days or three years that makes someone officially chronically homeless in Canada does not even begin to describe the length and complexity of their experiences of homelessness.

They described wanting to live in supportive, gender-specific housing programs that foster community and care. Highly supportive housing typically integrates health and social services and a range of other support services. This type of integrated housing does exist across Canada — examples are the Block Line Supportive Housing Program operated by YWCA Kitchener-Waterloo and the Women’s Building (Alpha House) in Calgary — but there is not enough of it.

The current measurements from the government of Canada fall short of capturing the complexity of the homeless experience for many Canadian women.

Government officials must therefore not only rethink their definitions of those in the most housing need, they must develop responsive housing solutions to meet the needs of women who have been homeless for many years.

Mary Vaccaro consults for YWCA Hamilton. She receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. How women are trapped in years of homelessness that often begin in their teens – https://theconversation.com/how-women-are-trapped-in-years-of-homelessness-that-often-begin-in-their-teens-259239

MIL OSI –

July 16, 2025

MIL-OSI Russia: What Flowers Say: New Exhibition at the School of Design

Translation. Region: Russian Federal

Source: State University “Higher School of Economics” –

An important disclaimer is at the bottom of this article.

HSE ART GALLERY in partnership with the platform Artz. Vork continues the cycle of group exhibition projects from the “Big Themes” series, rethinking fundamental ideas and offering new interpretations of timeless concepts. This time, the theme of the exhibition was flowers – their images, symbolism and meanings.

Flowers are traditionally associated with transience: they do not live long, quickly fade, and disappear almost without a trace. Therefore, flora in art often becomes an image of memory, loss, something that slips away but continues to exist. Alexandra Lurye, Maria Panina, Anna Stavinozhenko, and Alina Kerimova work in this vein. In the context of the climate and political crisis, flora is increasingly acquiring features of vulnerability and anxiety — as in the works of Anastasia Kovaleva, Alexandra Zamurueva, and Polina Filippova. Some artists — Irina Afanasyeva and Galya Fadeeva — radically rethink the very idea of the “language of flowers,” rejecting established symbols in favor of new ways of expression. When we talk about flowers, we most often imagine something living, fragile, tangible. But what happens when flora loses its materiality and turns into a digital image? This question is asked by Masha Rogova, Dariella, and Olga Filina. Flowers at the exhibition become a reason for a conversation about identity, personal history and deep self-reflection — in the works of Inga Tatarshao, Ekaterina Ivanitskaya and Marya Dmitrieva. Separately, the exhibition presents “Flower Horoscope” — a fantasy digital project by the art group Agey Tomesh.

One of the conceptual lines of the exhibition is the metaphorical convergence of the phenomena of herbarium and collecting. To collect a herbarium and to collect art means to touch time. In both cases, it is about choosing, selecting and preserving what can disappear. However, in the post-digital era, when the boundaries between the physical and the virtual are increasingly blurred, a new form of interaction with art is emerging – phygital collecting, combining the material (physical) and the digital (digital). Being part of the exhibition program Biennale of private collections, the project invites us to reflect on the nature of phygital collecting. This format became the basis of the platform Artz. Vork, where viewers can find all the works on display — add a memorable piece to their digital collection and purchase a print based on it. The Flower Horoscope is an archaic system of symbolic classification found in cultural layers of the supposed pre-continental period. Unlike astrological systems based on observation of stellar movement, this model correlates human individuality with phenological cycles — the flowering time of plants, seasonal weather changes, and the migration of fauna.

Each day of the modern calendar year corresponds to a certain type of ancient plant (usually a flower), supposedly possessing its own “character” or behavioral metaphor. It is believed that a person born on this day inherits the qualities attributed to “his” plant, as well as its supposed role in the natural-social structure.

Choose a flower

Art group Agey Tomesh, Dariella, Ira Afanasyeva, Marya Dmitrieva, Alexandra Zamurueva, Ekaterina Ivanitskaya, Alina Kerimova, Anastasia Kovaleva, Alexandra Lurye, Maria Panina, Masha Rogova, Anna Stavinozhenko, Inga Tatarshao, Galya Fadeeva, Olga Filina, Polina Filippova.

HSE ART GALLERY in the Vinzavod Contemporary Art Center4th Syromyatnichesky Lane, 1/8с6 (entrance C8, floor 2)

Gallery opening hours: Tuesday–Sunday | 12:00–20:00Free admission by prior arrangementregistration

Director of HSE ART GALLERY: Vassa Pyrkova Curator of HSE ART GALLERY: Ilya Kronchev-IvanovProducers: Anna Aravina, Polina Saratovskaya, Anastasia Shabashova, Elena KirpuGraphic design: HSE DESIGN LAB

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 16, 2025

MIL-OSI Africa: McKenzie unveils R6.3 billion budget to boost local talent in sports and arts

Source: Government of South Africa

Sport, Arts and Culture Minister Gayton McKenzie has tabled a R6.3 billion budget this morning that he believes will help unlock local talent in both the sports, and arts and culture sectors.

“Change is difficult, but it’s necessary… Access and opportunity matter, and even the greatest of talents need that opportunity. That is why, to invest in all our talent, both in sport, and arts and culture, as well as preserving our heritage, the department has a budget of R6.3 billion for the 2025/26 financial year,” McKenzie said on Tuesday in Parliament.

Under Programme 2, Recreation Development and Sport Promotion, the Minister announced that the department will allocate R1.281 billion.

To continue supporting sports in the country, McKenzie said R98.5 million will be allocated toward federation support.

“One of the biggest changes coming for our federations will be the provision of an office building for them to share, as many have been running their sports out of the boots of their cars.”

WATCH |

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To support and develop local talent, the department has allocated over R627 million through the conditional grant for this financial year.

According to the Minister, funding will be used for the purchase of equipment and attire for schools, clubs and hubs, as well as for training individuals in coaching, technical officiating, administration courses, and employment opportunities.

Repatriation

Under Programme 4, Heritage Promotion and Preservation, the department has allocated R2.787 billion, which includes R1.6 billion for the construction, maintenance, upgrading, and operation of valued libraries.

“Following the success of our inaugural programme to return the remains of South African fallen heroes from Zimbabwe and Zambia last year, we shall continue to repatriate the human remains of freedom fighters who fell outside the country during the struggle.

“I am told that there could still be 5 000 bodies that need to be returned, and we should not rest until they are home.”

READ | Government, judiciary reaffirm commitment to justice

The Minister said they are currently negotiating with Scottish authorities to repatriate the remains of Khoi and San ancestors from the University of Glasgow’s Hunterian Museum by September 2025.

He also mentioned that government is nearing the conclusion of the reburial process for 58 ancestral remains from the Northern Cape.

This effort is guided by the Northern Cape Reburial Task Team, which includes representatives from the Nama, Griqua, Korana, and San communities.

Museums

The ministry is also driving a campaign, under the theme: “Reimagining South African Heritage for a New Era”, which is aimed at making museums relevant to a new, curious generation, ultimately increasing visitor numbers.

“One of the first projects we are focusing on is Robben Island, which is undergoing a major revamp and facelift.”

Creative arts

Under Programme 3, focused on Arts and Culture Promotion and Development, his department is allocating R1.725 billion.

To enhance skills and transform the cultural and creative industries, he stated that they will continue to recruit and place approximately 300 young people.

This initiative aims to improve their chances of gaining employment and becoming self-employed in creative fields.

Sector clusters

He announced that the interim boards for the 17 sector clusters within the cultural and creative industry are now fully operational.

These boards are responsible for organising their respective sectors, promoting collaboration, and addressing challenges such as copyright protection, fair labour practices, and equitable distribution of funding.

According to the Minister, they will receive a total budget of R34 million to support their operations.

“We understand the frustration of our creatives. For the past 30 years and the years before that, they have not seen their lives change for the better.”

In support of the preservation and development of the Khoi and San languages, the N|uu language in particular, the department is setting aside R2 million for a targeted call for proposals to preserve these languages. – SAnews.gov.za

MIL OSI Africa –

July 16, 2025

MIL-OSI Analysis: How women are trapped in years of homelessness that often begin in their teens

Source: The Conversation – Canada – By Mary Vaccaro, Lecturer in Social Work, McMaster University

Many women without children in their care who become homeless in Canada remain homeless for many years. Yet their experiences remain misunderstood and largely ignored because of the ways we define and measure homelessness in Canada.

I have worked in the women’s emergency shelter system in Hamilton, Ont., since 2012. I have met many women who have been navigating homelessness for years — with no permanent solution to their housing crisis. For my PhD in social work, I interviewed 21 women who had experienced homelessness for a year or longer in Hamilton. I asked them about their experiences, and through art-based activities, about their ideas for housing and support.

What I learned in the interviews, combined with existing research, highlights a hidden crisis. Within our current system resides a profound human cost that manages, instead of resolves, homelessness.

Many women who experience homelessness do so for far longer than the federal government’s definition of chronic homelessness, which is six consecutive months or 18 months over three years. Research from the United Kingdom that focuses on long-term and unresolved homelessness for women found that the ways women experience homelessness is to “go around in circles” without having their housing or support needs met.

Among the women I spoke with, more than half had been experiencing homelessness for 10 years or longer. Six of the the women said they have never had a safe place of their own to live for the entirety of their adult lives.

All of the women who participated in this project accessed the services offered by the homeless serving sector, including shelters and outreach workers, designed to resolve their homelessness. Yet none of these women were able to have their housing and support needs met.

This means their experience of homelessness has persisted for years, and even decades.

Homelessness often starts in their teens

More than half of the participants I spoke with first experienced homelessness before they turned 18. Their primary route into youth homelessness was gender-based violence. They ran away from home when they were teenaged girls to escape violence and became caught in a cycle of events that include: hospitalization, incarceration, staying in youth shelters, living in group homes and unsafe places.

The Pan-Canadian Women’s Housing and Homelessness Survey, as well as a study on Toronto youth, echo what the women I spoke with told me. Studies from the United States also confirm similar patterns — homelessness begins early in life for a majority of women, and is often followed by a chronic, chaotic churn of precarious housing and homelessness situations.

The women in my study described a frustrating and exhausting cycle of going among institutions such as hospitals, jails, emergency shelters, drop-in programs and transitional housing programs. They had all spent periods of time living outdoors, in encampments, in motels, with unsafe people and in other precarious and temporary housing arrangements. This phenomena is well-documented in existing Canadian research.

Better definitions, better data

The Canadian government defines those who have been homeless and using shelters for more than 180 days a year as experiencing “acute chronicity.”

Another term used by the federal government for individuals who have accessed shelters at least once in each of the last three years is “prolonged instability.”

People who meet one or both of these criteria are considered to have the highest housing needs in the country.

According to recent federal data, women and gender-diverse people across Canada experience slightly higher rates of acute chronicity than men (13.4 per cent for men, 15.4 per cent for women, and 13.9 per cent for gender-diverse people). But the real numbers for women are likely much higher due to under-reporting.

Research shows women remain invisible to official systems during periods of homelessness. For example, the available data relies solely on information about emergency shelter usage. It does not capture experiences of homelessness that occur outside of the shelter system.

Women are less likely than their male counterparts to access shelters and other formal supports. Instead, they rely on precarious, unsafe and temporary housing arrangements to navigate homelessness.

In Canada, there are also fewer emergency women-specific shelter beds than for men

Rethinking responses to long-term homelessness

For the women I spoke with, the official 180 days or three years that makes someone officially chronically homeless in Canada does not even begin to describe the length and complexity of their experiences of homelessness.

They described wanting to live in supportive, gender-specific housing programs that foster community and care. Highly supportive housing typically integrates health and social services and a range of other support services. This type of integrated housing does exist across Canada — examples are the Block Line Supportive Housing Program operated by YWCA Kitchener-Waterloo and the Women’s Building (Alpha House) in Calgary — but there is not enough of it.

The current measurements from the government of Canada fall short of capturing the complexity of the homeless experience for many Canadian women.

Government officials must therefore not only rethink their definitions of those in the most housing need, they must develop responsive housing solutions to meet the needs of women who have been homeless for many years.

Mary Vaccaro consults for YWCA Hamilton. She receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. How women are trapped in years of homelessness that often begin in their teens – https://theconversation.com/how-women-are-trapped-in-years-of-homelessness-that-often-begin-in-their-teens-259239

MIL OSI Analysis –

July 16, 2025

MIL-OSI Africa: Select Committee on Education Notes Policy Framework on Internationalisation but Calls for More Information

Source: APO

.

The Select Committee on Education, Sciences and Creative Industries has noted the Policy Framework on Internationalisation of universities as presented by the Department of Higher Education and Training on Tuesday.

The Chairperson of the committee, Mr Makhi Feni, called on the department to provide updated statistical information, that will help the committee to act from an informed perspective on issues in the sector. He said: “We appreciate this initiative but we call on the department to ensure that it empowers black South Africans, the previously disadvantaged and other vulnerable groups.

“Keeping up with international standards is ideal but such move must empower South Africans. We must not be swallowed up in convenient phrases, but we want South Africans to equally influence the world through research output that does not regurgitate international models.”

Minister Nobuhle Nkabane led the departmental delegation in the meeting with the committee this morning. She informed the committee that the policy will serve as a guideline to South Africa’s institutions of higher education.

Mr Feni said the policy is urgent and that in the era of indigenous knowledge systems and decolonised knowledge, we should be able to make conditions conducive for black South African scholars at home and abroad. “But in the absence of relevant and reliable information, we are unable to do anything. Even the swirling complaints about foreign nationals uprooting Black South Africans from their system will continue,” Mr Feni said.

Mr Feni said the development of a policy framework must not be delayed as Black South Africans legitimately feel they are being substituted by foreign nationals. “There will be claims of xenophobia, when in fact this was something that could have easily been avoided.”

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

MIL OSI Africa –

July 16, 2025

MIL-OSI: White River Bancshares Co. Reports Net Income of $3.30 million, or $1.34 Per Diluted Share, in 2Q25; Results Driven by Loan Growth and Net Interest Margin Expansion

Source: GlobeNewswire (MIL-OSI)

FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to $3.30 million, or $1.34 per diluted share, in the second quarter of 2025, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024. The Company reported net income of $2.63 million, or $1.07 per diluted share, for the prior quarter. In the first six months of 2025, net income increased to $5.93 million, or $2.42 per diluted share, compared to $2.36 million, or $1.11 per diluted share, in the first six months of 2024. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.

“We had a strong second quarter—the most profitable quarter we’ve ever had,” said Gary Head, Chairman and CEO. “We have been blessed to have incredible loan growth throughout the history of our company, and we build on that momentum quarter after quarter. Our Signature Bank family is the best group of bankers I’ve been associated with in my 43-year banking career. Their teamwork and commitment to excellence consistently go above and beyond expectations.”

“As a community bank, expanding our deposit base to support new loan growth is critical,” said Scott Sandlin, Chief Strategy Officer. “Our Bank has made deposit gathering a primary focus, and our team has done an outstanding job—deepening relationships with existing clients while also bringing in new customers. As a result, total deposits increased 4.0% during the second quarter of 2025 and 23.2% year-over-year. At quarter end, demand and non-interest bearing accounts represented 18.7% of total deposits, and savings and interest-bearing transaction accounts represented 38.4% of total deposits. We will continue to actively seek more opportunities to grow deposits in the coming quarters to meet the increasing demand for loans.”

Second Quarter 2025 Financial Highlights:

Net income for the second quarter of 2025 increased to $3.30 million, or $1.34 per diluted share, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024.
Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024.
Net interest margin (“NIM”) increased 31 basis points to 3.56% in the second quarter of 2025, compared to 3.25% in the second quarter of 2024.
The Company recorded an $800,000 provision for credit losses in the second quarter of 2025, compared to a $432,000 provision for credit losses in the second quarter of 2024.
Net loans increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024.
Nonperforming loans represented 0.03% of total loans at June 30, 2025, compared to 0.00% a year ago.
Total deposits increased $235.3 million, or 23.2%, year-over-year, to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024.
Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 70.10% of total deposits at June 30, 2025.
Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 a year ago.

Income Statement

In the second quarter of 2025, the Company generated a return on average assets of 0.94% and a return on average equity of 12.62%, compared to 0.79% and 10.64%, respectively, in the first quarter of 2025 and 0.63% and 8.26%, respectively, in the second quarter of 2024.

“Our second quarter net interest margin expanded by 17 basis points from the previous quarter and 31 basis points year-over-year, driven by loan growth and increased yields on our interest-earning assets,” said Brant Ward, President. NIM was 3.56% in the second quarter of 2025, compared to 3.39% in the first quarter of 2025, and 3.25% in the second quarter of 2024. In the first six months of 2025, NIM expanded 37 basis points to 3.48%, compared to 3.11% in the first six months of 2024.

Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 24.8% to $21.2 million in the second quarter of 2025, compared to $17.0 million in the second quarter of 2024, primarily attributable to the increase in loans. Total interest expense increased to $9.3 million in the second quarter of 2025, from $8.0 million in the second quarter of 2024, primarily due to an increase in deposit costs. In the first six months of 2025, net interest income increased 31.9% to $22.5 million, compared to $17.1 million in the first six months of 2024.

Noninterest income increased 7.9% to $2.1 million in the second quarter of 2025, compared to $1.9 million in the second quarter of 2024. The increase was primarily due to an increase in secondary market fee income, which more than offset the decrease in wealth management fee income during the second quarter of 2025. In the first six months of 2025, noninterest income increased 14.5% to $4.0 million, compared to $3.5 million in the first six months of 2024.

Noninterest expense was $8.9 million in the second quarter of 2025, compared to $8.1 million in the second quarter of 2024, as expenses have normalized following the investment in expanding the Company’s market presence over the past few years. In the first six months of the year, noninterest expense increased 6.0% to $17.4 million, compared to $16.4 million in the first six months of 2024.

Balance Sheet

Total assets increased 18.4% to $1.434 billion at June 30, 2025, from $1.211 billion at June 30, 2024, and increased 4.0% compared to $1.379 billion at March 31, 2025. Cash and cash equivalents totaled $25.6 million at June 30, 2025, compared to $49.5 million a year ago. Investment securities totaled $140.5 million at June 30, 2025, an increase from $115.5 million at June 30, 2024.

Loans, net of allowance for credit losses, increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024, and increased 5.9% compared to $1.128 billion at March 31, 2025.

Total deposits increased 23.2% to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024, and increased 4.0% compared to $1.201 billion at March 31, 2025. Demand and non-interest-bearing deposits decreased less than 1% compared to June 30, 2024, while savings and interest-bearing transaction accounts increased 37.6% compared to June 30, 2024.

FHLB advances were $21.5 million at June 30, 2025, compared to $54.3 million at June 30, 2024, and $21.6 million at March 31, 2025. Total stockholders’ equity increased to $102.5 million at June 30, 2025, compared to $92.0 million at June 30, 2024, and $100.5 million at March 31, 2025. Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 at June 30, 2024, and $40.33 at March 31, 2025.

Credit Quality

Due to strong quarterly loan growth, the Company recorded an $800,000 provision for credit losses in the second quarter of 2025. This is compared to a $670,000 provision for credit losses in the first quarter of 2025, and a $432,000 provision for credit losses in the second quarter of 2024.

There were $365,000 in nonperforming loans at June 30, 2025. This compared to $420,000 in nonperforming loans at March 31, 2025, and $32,000 in nonperforming loans at June 30, 2024. Nonperforming loans represented 0.03% of total loans on June 30, 2025, 0.04% of total loans on March 31, 2025, and 0.00% of total loans a year ago.

“We remain conservative in building our credit loss reserves, continually reviewing our loan mix, assessing growth trends, and factoring in both regional and national economic conditions to ensure our allowance remains appropriately calibrated,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $14.0 million, or 1.16% of total loans, at June 30, 2025, compared to $13.3 million, or 1.17% of total loans, at March 31, 2025, and $12.4 million, or 1.25% of total loans, at June 30, 2024.

Net loan recoveries were $11,000 in the second quarter of 2025. This compared to net loan charge-offs of $137,000 in the first quarter of 2025, and net loan charge-offs of $111,000 in the second quarter of 2024.

Capital

The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 11.69%, a Tier 1 ratio of 10.44%, and a Leverage ratio of 9.12% for the Bank at June 30, 2025.

About White River Bancshares Company

White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX^® Best Market.

In the second quarter of 2025, the Signature Bank celebrated its 20-year anniversary of service to its Arkansas communities. In tandem with the celebration, the organization updated its mission statement:
We are committed to being a trusted local bank for business owners, individuals, and families who seek personalized service from people they know. Our mission is to empower our customers to strengthen their connections through every interaction, ensuring that their dollars are reinvested locally to support the growth and prosperity of the community we share. We have a passion for preserving the traditions of community banking as we embrace the power of technology.

About the Region

White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $429,000 in May 2025, with an average of 97 days on the market. For Benton County, the average house sold for $461,000, with an average of 92 days on the market.

Source:
http://www.nwarealtors.org/market-statistics/

Forward Looking Statements

This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:	Scott Sandlin, Chief Strategy Officer
	479-684-3754

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

		For the Three Months Ended
		June 30,		March 31,		June 30,
			2025		2025		2024

INTEREST INCOME
Loans, including fees		$	19,611,698	$	18,315,006	$	15,763,452
Investment securities			1,431,773		1,258,571		1,083,415
Federal funds sold and other			175,917		232,978		162,250
Total interest income			21,219,388		19,806,555		17,009,117

INTEREST EXPENSE
Deposits			8,538,199		8,312,455		7,106,512
Federal Home Loan Bank advances			296,860		393,057		448,263
Notes payable			477,735		475,425		398,017
Federal funds purchased and other			7,113		13,022		21,787
Total interest expense			9,319,907		9,193,959		7,974,579
NET INTEREST INCOME			11,899,481		10,612,596		9,034,538
Provision for credit losses			800,000		670,000		432,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES			11,099,481		9,942,596		8,602,538

NON-INTEREST INCOME
Service charges and fees on deposits			162,185		171,186		154,816
Wealth management fee income			994,100		1,017,829		1,065,553
Secondary market fee income			223,956		128,824		113,926
Bank owned-life insurance income			82,190		80,603		80,478
Gain on sales and write-downs of foreclosed assets			15,475		–		326
Other			616,667		544,141		527,064
TOTAL NON-INTEREST INCOME			2,094,573		1,942,583		1,942,163

NON-INTEREST EXPENSE
Salaries and benefits			5,185,716		4,931,692		4,784,556
Occupancy and equipment			1,189,886		1,145,101		936,818
Data processing			857,198		858,115		704,080
Marketing and business development			609,549		397,137		473,618
Professional services			699,968		650,708		617,890
Amortization of other intangible assets			53,037		53,036		53,037
Other			326,224		393,498		494,203
TOTAL NON-INTEREST EXPENSE			8,921,578		8,429,287		8,064,202

Income before income taxes			4,272,476		3,455,892		2,480,499
Income tax provision			974,775		826,085		631,462
NET INCOME		$	3,297,701	$	2,629,807	$	1,849,037

EARNINGS PER SHARE
Basic (1)		$	1.35	$	1.07	$	0.81
Diluted (1)		$	1.34	$	1.07	$	0.81

(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

			Six Months Ended
			June 30,
			2025		2024

INTEREST INCOME
Loans, including fees			$	37,926,704	$	30,758,374
Investment securities				2,690,344		2,012,455
Federal funds sold and other				408,895		258,404
Total Interest Income				41,025,943		33,029,233

INTEREST EXPENSE
Deposits				16,850,654		14,091,305
Federal Home Loan Bank advances				689,917		968,582
Notes payable				953,160		796,034
Federal funds purchased and other				20,135		100,047
Total interest expense				18,513,866		15,955,968
NET INTEREST INCOME				22,512,077		17,073,265
Provision for credit losses				1,470,000		1,080,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES				21,042,077		15,993,265

NON-INTEREST INCOME
Service charges and fees on deposits				333,371		305,165
Wealth management fee income				2,011,929		1,911,059
Secondary market fee income				352,780		170,990
Bank owned life insurance income				162,793		160,359
Gain on sales and write-downs of foreclosed assets				15,475		1,376
Other				1,160,808		976,319
TOTAL NON-INTEREST INCOME				4,037,156		3,525,268

NON-INTEREST EXPENSE
Salaries and benefits				10,117,408		9,784,089
Occupancy and equipment				2,334,987		1,864,942
Data processing				1,715,313		1,494,649
Marketing and business development				1,006,686		937,315
Professional services				1,350,676		1,287,757
Amortization of intangible asset				106,073		106,073
Other				719,722		898,039
TOTAL NON-INTEREST EXPENSE				17,350,865		16,372,864

Income before income taxes				7,728,368		3,145,669
Income tax provision				1,800,860		787,404
NET INCOME			$	5,927,508	$	2,358,265

EARNINGS PER SHARE
Basic (1)			$	2.42	$	1.11
Diluted (1)			$	2.42	$	1.11

	(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)

		June 30, 2025			March 31, 2025			June 30, 2024

ASSETS
Cash and cash equivalents		$	25,604,276		$	48,360,156		$	49,495,763
Investment securities			140,544,711			134,968,153			115,526,915
Loans held for sale			2,442,642			874,009			997,907
Loans			1,208,102,220			1,141,369,199			994,754,063
Allowance for credit losses			(14,033,740	)		(13,347,855	)		(12,434,130	)
Net loans			1,194,068,480			1,128,021,344			982,319,933
Premises and equipment, net			37,411,490			35,647,835			30,442,837
Foreclosed assets held for sale			–			310,406			777,606
Accrued interest receivable			7,024,823			6,629,881			5,433,391
Bank owned life insurance			9,942,100			9,859,911			9,614,851
Deferred income taxes			4,522,795			4,220,559			4,788,942
Other investments			7,925,019			6,782,614			8,094,125
Intangible assets, net			1,697,167			1,750,204			1,909,313
Other assets			2,783,012			1,825,830			1,733,790
TOTAL ASSETS		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373

LIABILITIES & STOCKHOLDERS’ EQUITY
Deposits:
Demand and non-interest-bearing		$	233,078,431		$	231,331,391		$	233,230,007
Savings and interest-bearing transaction accounts			479,532,136			456,733,576			348,391,562
Time deposits			536,591,123			512,882,444			432,248,979
Total deposits			1,249,201,690			1,200,947,411			1,013,870,548
Federal Home Loan Bank advances			21,518,084			21,593,143			54,314,495
Notes payable			26,159,110			26,141,832			26,090,002
Operating lease liability			21,918,414			20,029,714			15,930,503
Reserve for losses on unfunded commitments			1,603,000			1,478,000			1,433,000
Accrued interest payable			2,636,403			2,731,699			2,714,687
Other liabilities			8,433,777			5,798,159			4,745,292
TOTAL LIABILITIES			1,331,470,478			1,278,719,958			1,119,098,527

Stockholders’ equity:
Common stock (1)			24,876			24,882			24,698
Surplus (1)			102,893,483			102,784,831			102,457,705
Retained earnings (accumulated deficit)			6,787,654			4,714,375			(2,484,500	)
Treasury stock, at cost			(1,284,359	)		(1,265,731	)		(1,132,905	)
Accumulated other comprehensive loss			(5,925,617	)		(5,727,413	)		(6,828,152	)
TOTAL STOCKHOLDERS’ EQUITY			102,496,037			100,530,944			92,036,846

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373

(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
SUPPLEMENTAL INFORMATION

		(Unaudited)
		Three Months Ended
		June 30,			March 31,			June 30,

FOR THE PERIOD
Net income		$	3,297,701		$	2,629,807		$	1,849,037
Net income before taxes			4,272,476			3,455,892			2,480,499
Dividends declared per share (1)			0.50			–			0.50


PERIOD END BALANCE
Total assets		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373
Total investments			140,544,711			134,968,153			115,526,915
Total loans, net			1,194,068,480			1,128,021,344			982,319,933
Allowance for credit losses			(14,033,740	)		(13,347,855	)		(12,434,131	)
Total deposits			1,249,201,690			1,200,947,411			1,013,870,548
Stockholders’ equity			102,496,037			100,530,944			92,036,846


RATIO ANALYSIS
Return on average assets (annualized)			0.94	%		0.79	%		0.63	%
Return on average equity (annualized)			12.62	%		10.64	%		8.26	%
Net loans/Deposits			95.59	%		93.93	%		96.89	%
Total Stockholders’ Equity/Total assets			7.15	%		7.29	%		7.60	%
Net loan losses/Total loans			-0.00	%		0.01	%		0.01	%
Uninsured & unpledged deposits			32.37	%		31.00	%		31.21	%


PER SHARE DATA
Shares outstanding (1)			2,448,246			2,449,317			2,435,700
Weighted average shares outstanding (1)			2,448,734			2,446,747			2,291,316
Diluted weighted average shares outstanding (1)			2,454,485			2,451,161			2,291,316
Basic earnings (1)		$	1.35		$	1.07		$	0.81
Diluted earnings (1)			1.34			1.07			0.81
Book value (1)			41.87			41.04			37.79
Tangible book value (1)			41.17			40.33			37.00


ASSET QUALITY
Net (recoveries) charge-offs		$	(10,889	)	$	136,970		$	110,968
Classified assets			402,406			853,745			1,090,758
Nonperforming loans			364,853			419,985			32,054
Nonperforming assets			364,853			730,391			809,660
Total nonperforming loans/Total loans			0.03	%		0.04	%		0.00	%
Total nonperforming loans/Total assets			0.03	%		0.03	%		0.00	%
Total nonperforming assets/Total assets			0.03	%		0.05	%		0.07	%
Allowance for credit losses/Total loans			1.16	%		1.17	%		1.25	%


(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)

		Three Months Ended
		June 30,						March 31,						June 30,
			2025						2025						2024
		Average				Average		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate

Interest-earning assets:
Federal funds sold and other		$	15,102,485	$	175,917	4.67	%	$	23,287,989	$	232,978	4.06	%	$	11,798,448	$	162,250	5.53	%
Investment securities available-for-sale (1)			138,229,178		1,289,470	3.74	%		133,405,472		1,208,821	3.67	%		114,427,481		941,900	3.31	%
Loans receivable			1,169,591,045		19,611,698	6.73	%		1,106,648,533		18,315,006	6.71	%		973,396,880		15,763,452	6.51	%
Total interest-earning assets			1,322,922,708	$	21,077,085	6.39	%		1,263,341,994	$	19,756,805	6.34	%		1,099,622,809	$	16,867,602	6.17	%
Noninterest-earning assets			81,927,528						81,821,189						74,503,352
Total assets		$	1,404,850,236					$	1,345,163,183					$	1,174,126,161
Interest-bearing liabilities:
Interest-bearing deposits		$	985,435,006	$	8,538,199	3.48	%	$	937,669,969	$	8,312,455	3.60	%	$	770,303,642	$	7,106,512	3.71	%
FHLB advances and federal funds purchased			26,552,308		303,973	4.59	%		36,654,930		406,079	4.49	%		40,440,625		470,050	4.67	%
Notes payable			26,150,819		477,735	7.33	%		26,131,761		475,425	7.38	%		25,506,601		398,017	6.28	%
Total interest-bearing liabilities			1,038,138,133	$	9,319,907	3.60	%		1,000,456,660	$	9,193,959	3.73	%		836,250,868	$	7,974,579	3.84	%
Noninterest-bearing liabilities			261,876,451						244,466,979						247,820,333
Total liabilities			1,300,014,584						1,244,923,639						1,084,071,201
Stockholders’ equity			104,835,652						100,239,544						90,054,960
Total liabilities and stockholders’ equity		$	1,404,850,236					$	1,345,163,183					$	1,174,126,161
Net interest-earning assets		$	284,784,575					$	262,885,334					$	263,371,941
Net interest spread				$	11,757,178	2.79	%			$	10,562,846	2.61	%			$	8,893,023	2.33	%
Net interest margin						3.56	%					3.39	%					3.25	%

(1	)	Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)

		Six Months Ended June 30,
			2025						2024
		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate

Interest-earning assets:
Federal funds sold and other		$	19,172,625	$	408,895	4.30	%	$	10,071,062	$	258,404	5.16	%
Investment securities available-for-sale (1)			135,830,651		2,498,291	3.71	%		114,434,010		1,842,786	3.24	%
Loans receivable			1,138,293,665		37,926,704	6.72	%		967,102,566		30,758,374	6.40	%
Total interest-earning assets			1,293,296,941	$	40,833,890	6.37	%		1,091,607,638	$	32,859,564	6.05	%
Noninterest-earning assets			81,874,656						72,612,145
Total assets		$	1,375,171,597					$	1,164,219,783
Interest-bearing liabilities:
Interest-bearing deposits		$	961,684,434	$	16,850,654	3.53	%	$	766,601,621	$	14,091,305	3.70	%
FHLB advances and federal funds purchased			31,575,711		710,052	4.53	%		45,594,923		1,068,629	4.71	%
Notes payable			26,141,343		953,160	7.35	%		25,500,463		796,034	6.28	%
Total interest-bearing liabilities			1,019,401,488	$	18,513,866	3.66	%		837,697,007	$	15,955,968	3.83	%
Noninterest-bearing liabilities			253,207,317						240,831,655
Total liabilities			1,272,608,805						1,078,528,662
Stockholders’ equity			102,562,792						85,691,121
Total liabilities and stockholders’ equity		$	1,375,171,597					$	1,164,219,783
Net interest-earning assets		$	273,895,453					$	253,910,631
Net interest spread				$	22,320,024	2.70	%			$	16,903,596	2.22	%
Net interest margin						3.48	%					3.11	%

(1	)	Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).

The MIL Network –

July 16, 2025

MIL-OSI: White River Bancshares Co. Reports Net Income of $3.30 million, or $1.34 Per Diluted Share, in 2Q25; Results Driven by Loan Growth and Net Interest Margin Expansion

Source: GlobeNewswire (MIL-OSI)

FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to $3.30 million, or $1.34 per diluted share, in the second quarter of 2025, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024. The Company reported net income of $2.63 million, or $1.07 per diluted share, for the prior quarter. In the first six months of 2025, net income increased to $5.93 million, or $2.42 per diluted share, compared to $2.36 million, or $1.11 per diluted share, in the first six months of 2024. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.

“We had a strong second quarter—the most profitable quarter we’ve ever had,” said Gary Head, Chairman and CEO. “We have been blessed to have incredible loan growth throughout the history of our company, and we build on that momentum quarter after quarter. Our Signature Bank family is the best group of bankers I’ve been associated with in my 43-year banking career. Their teamwork and commitment to excellence consistently go above and beyond expectations.”

“As a community bank, expanding our deposit base to support new loan growth is critical,” said Scott Sandlin, Chief Strategy Officer. “Our Bank has made deposit gathering a primary focus, and our team has done an outstanding job—deepening relationships with existing clients while also bringing in new customers. As a result, total deposits increased 4.0% during the second quarter of 2025 and 23.2% year-over-year. At quarter end, demand and non-interest bearing accounts represented 18.7% of total deposits, and savings and interest-bearing transaction accounts represented 38.4% of total deposits. We will continue to actively seek more opportunities to grow deposits in the coming quarters to meet the increasing demand for loans.”

Second Quarter 2025 Financial Highlights:

Net income for the second quarter of 2025 increased to $3.30 million, or $1.34 per diluted share, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024.
Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024.
Net interest margin (“NIM”) increased 31 basis points to 3.56% in the second quarter of 2025, compared to 3.25% in the second quarter of 2024.
The Company recorded an $800,000 provision for credit losses in the second quarter of 2025, compared to a $432,000 provision for credit losses in the second quarter of 2024.
Net loans increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024.
Nonperforming loans represented 0.03% of total loans at June 30, 2025, compared to 0.00% a year ago.
Total deposits increased $235.3 million, or 23.2%, year-over-year, to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024.
Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 70.10% of total deposits at June 30, 2025.
Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 a year ago.

Income Statement

In the second quarter of 2025, the Company generated a return on average assets of 0.94% and a return on average equity of 12.62%, compared to 0.79% and 10.64%, respectively, in the first quarter of 2025 and 0.63% and 8.26%, respectively, in the second quarter of 2024.

“Our second quarter net interest margin expanded by 17 basis points from the previous quarter and 31 basis points year-over-year, driven by loan growth and increased yields on our interest-earning assets,” said Brant Ward, President. NIM was 3.56% in the second quarter of 2025, compared to 3.39% in the first quarter of 2025, and 3.25% in the second quarter of 2024. In the first six months of 2025, NIM expanded 37 basis points to 3.48%, compared to 3.11% in the first six months of 2024.

Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 24.8% to $21.2 million in the second quarter of 2025, compared to $17.0 million in the second quarter of 2024, primarily attributable to the increase in loans. Total interest expense increased to $9.3 million in the second quarter of 2025, from $8.0 million in the second quarter of 2024, primarily due to an increase in deposit costs. In the first six months of 2025, net interest income increased 31.9% to $22.5 million, compared to $17.1 million in the first six months of 2024.

Noninterest income increased 7.9% to $2.1 million in the second quarter of 2025, compared to $1.9 million in the second quarter of 2024. The increase was primarily due to an increase in secondary market fee income, which more than offset the decrease in wealth management fee income during the second quarter of 2025. In the first six months of 2025, noninterest income increased 14.5% to $4.0 million, compared to $3.5 million in the first six months of 2024.

Noninterest expense was $8.9 million in the second quarter of 2025, compared to $8.1 million in the second quarter of 2024, as expenses have normalized following the investment in expanding the Company’s market presence over the past few years. In the first six months of the year, noninterest expense increased 6.0% to $17.4 million, compared to $16.4 million in the first six months of 2024.

Balance Sheet

Total assets increased 18.4% to $1.434 billion at June 30, 2025, from $1.211 billion at June 30, 2024, and increased 4.0% compared to $1.379 billion at March 31, 2025. Cash and cash equivalents totaled $25.6 million at June 30, 2025, compared to $49.5 million a year ago. Investment securities totaled $140.5 million at June 30, 2025, an increase from $115.5 million at June 30, 2024.

Loans, net of allowance for credit losses, increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024, and increased 5.9% compared to $1.128 billion at March 31, 2025.

Total deposits increased 23.2% to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024, and increased 4.0% compared to $1.201 billion at March 31, 2025. Demand and non-interest-bearing deposits decreased less than 1% compared to June 30, 2024, while savings and interest-bearing transaction accounts increased 37.6% compared to June 30, 2024.

FHLB advances were $21.5 million at June 30, 2025, compared to $54.3 million at June 30, 2024, and $21.6 million at March 31, 2025. Total stockholders’ equity increased to $102.5 million at June 30, 2025, compared to $92.0 million at June 30, 2024, and $100.5 million at March 31, 2025. Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 at June 30, 2024, and $40.33 at March 31, 2025.

Credit Quality

Due to strong quarterly loan growth, the Company recorded an $800,000 provision for credit losses in the second quarter of 2025. This is compared to a $670,000 provision for credit losses in the first quarter of 2025, and a $432,000 provision for credit losses in the second quarter of 2024.

There were $365,000 in nonperforming loans at June 30, 2025. This compared to $420,000 in nonperforming loans at March 31, 2025, and $32,000 in nonperforming loans at June 30, 2024. Nonperforming loans represented 0.03% of total loans on June 30, 2025, 0.04% of total loans on March 31, 2025, and 0.00% of total loans a year ago.

“We remain conservative in building our credit loss reserves, continually reviewing our loan mix, assessing growth trends, and factoring in both regional and national economic conditions to ensure our allowance remains appropriately calibrated,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $14.0 million, or 1.16% of total loans, at June 30, 2025, compared to $13.3 million, or 1.17% of total loans, at March 31, 2025, and $12.4 million, or 1.25% of total loans, at June 30, 2024.

Net loan recoveries were $11,000 in the second quarter of 2025. This compared to net loan charge-offs of $137,000 in the first quarter of 2025, and net loan charge-offs of $111,000 in the second quarter of 2024.

Capital

The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 11.69%, a Tier 1 ratio of 10.44%, and a Leverage ratio of 9.12% for the Bank at June 30, 2025.

About White River Bancshares Company

White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX^® Best Market.

In the second quarter of 2025, the Signature Bank celebrated its 20-year anniversary of service to its Arkansas communities. In tandem with the celebration, the organization updated its mission statement:
We are committed to being a trusted local bank for business owners, individuals, and families who seek personalized service from people they know. Our mission is to empower our customers to strengthen their connections through every interaction, ensuring that their dollars are reinvested locally to support the growth and prosperity of the community we share. We have a passion for preserving the traditions of community banking as we embrace the power of technology.

About the Region

White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $429,000 in May 2025, with an average of 97 days on the market. For Benton County, the average house sold for $461,000, with an average of 92 days on the market.

Source:
http://www.nwarealtors.org/market-statistics/

Forward Looking Statements

This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:	Scott Sandlin, Chief Strategy Officer
	479-684-3754

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

		For the Three Months Ended
		June 30,		March 31,		June 30,
			2025		2025		2024

INTEREST INCOME
Loans, including fees		$	19,611,698	$	18,315,006	$	15,763,452
Investment securities			1,431,773		1,258,571		1,083,415
Federal funds sold and other			175,917		232,978		162,250
Total interest income			21,219,388		19,806,555		17,009,117

INTEREST EXPENSE
Deposits			8,538,199		8,312,455		7,106,512
Federal Home Loan Bank advances			296,860		393,057		448,263
Notes payable			477,735		475,425		398,017
Federal funds purchased and other			7,113		13,022		21,787
Total interest expense			9,319,907		9,193,959		7,974,579
NET INTEREST INCOME			11,899,481		10,612,596		9,034,538
Provision for credit losses			800,000		670,000		432,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES			11,099,481		9,942,596		8,602,538

NON-INTEREST INCOME
Service charges and fees on deposits			162,185		171,186		154,816
Wealth management fee income			994,100		1,017,829		1,065,553
Secondary market fee income			223,956		128,824		113,926
Bank owned-life insurance income			82,190		80,603		80,478
Gain on sales and write-downs of foreclosed assets			15,475		–		326
Other			616,667		544,141		527,064
TOTAL NON-INTEREST INCOME			2,094,573		1,942,583		1,942,163

NON-INTEREST EXPENSE
Salaries and benefits			5,185,716		4,931,692		4,784,556
Occupancy and equipment			1,189,886		1,145,101		936,818
Data processing			857,198		858,115		704,080
Marketing and business development			609,549		397,137		473,618
Professional services			699,968		650,708		617,890
Amortization of other intangible assets			53,037		53,036		53,037
Other			326,224		393,498		494,203
TOTAL NON-INTEREST EXPENSE			8,921,578		8,429,287		8,064,202

Income before income taxes			4,272,476		3,455,892		2,480,499
Income tax provision			974,775		826,085		631,462
NET INCOME		$	3,297,701	$	2,629,807	$	1,849,037

EARNINGS PER SHARE
Basic (1)		$	1.35	$	1.07	$	0.81
Diluted (1)		$	1.34	$	1.07	$	0.81

(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

			Six Months Ended
			June 30,
			2025		2024

INTEREST INCOME
Loans, including fees			$	37,926,704	$	30,758,374
Investment securities				2,690,344		2,012,455
Federal funds sold and other				408,895		258,404
Total Interest Income				41,025,943		33,029,233

INTEREST EXPENSE
Deposits				16,850,654		14,091,305
Federal Home Loan Bank advances				689,917		968,582
Notes payable				953,160		796,034
Federal funds purchased and other				20,135		100,047
Total interest expense				18,513,866		15,955,968
NET INTEREST INCOME				22,512,077		17,073,265
Provision for credit losses				1,470,000		1,080,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES				21,042,077		15,993,265

NON-INTEREST INCOME
Service charges and fees on deposits				333,371		305,165
Wealth management fee income				2,011,929		1,911,059
Secondary market fee income				352,780		170,990
Bank owned life insurance income				162,793		160,359
Gain on sales and write-downs of foreclosed assets				15,475		1,376
Other				1,160,808		976,319
TOTAL NON-INTEREST INCOME				4,037,156		3,525,268

NON-INTEREST EXPENSE
Salaries and benefits				10,117,408		9,784,089
Occupancy and equipment				2,334,987		1,864,942
Data processing				1,715,313		1,494,649
Marketing and business development				1,006,686		937,315
Professional services				1,350,676		1,287,757
Amortization of intangible asset				106,073		106,073
Other				719,722		898,039
TOTAL NON-INTEREST EXPENSE				17,350,865		16,372,864

Income before income taxes				7,728,368		3,145,669
Income tax provision				1,800,860		787,404
NET INCOME			$	5,927,508	$	2,358,265

EARNINGS PER SHARE
Basic (1)			$	2.42	$	1.11
Diluted (1)			$	2.42	$	1.11

	(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)

		June 30, 2025			March 31, 2025			June 30, 2024

ASSETS
Cash and cash equivalents		$	25,604,276		$	48,360,156		$	49,495,763
Investment securities			140,544,711			134,968,153			115,526,915
Loans held for sale			2,442,642			874,009			997,907
Loans			1,208,102,220			1,141,369,199			994,754,063
Allowance for credit losses			(14,033,740	)		(13,347,855	)		(12,434,130	)
Net loans			1,194,068,480			1,128,021,344			982,319,933
Premises and equipment, net			37,411,490			35,647,835			30,442,837
Foreclosed assets held for sale			–			310,406			777,606
Accrued interest receivable			7,024,823			6,629,881			5,433,391
Bank owned life insurance			9,942,100			9,859,911			9,614,851
Deferred income taxes			4,522,795			4,220,559			4,788,942
Other investments			7,925,019			6,782,614			8,094,125
Intangible assets, net			1,697,167			1,750,204			1,909,313
Other assets			2,783,012			1,825,830			1,733,790
TOTAL ASSETS		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373

LIABILITIES & STOCKHOLDERS’ EQUITY
Deposits:
Demand and non-interest-bearing		$	233,078,431		$	231,331,391		$	233,230,007
Savings and interest-bearing transaction accounts			479,532,136			456,733,576			348,391,562
Time deposits			536,591,123			512,882,444			432,248,979
Total deposits			1,249,201,690			1,200,947,411			1,013,870,548
Federal Home Loan Bank advances			21,518,084			21,593,143			54,314,495
Notes payable			26,159,110			26,141,832			26,090,002
Operating lease liability			21,918,414			20,029,714			15,930,503
Reserve for losses on unfunded commitments			1,603,000			1,478,000			1,433,000
Accrued interest payable			2,636,403			2,731,699			2,714,687
Other liabilities			8,433,777			5,798,159			4,745,292
TOTAL LIABILITIES			1,331,470,478			1,278,719,958			1,119,098,527

Stockholders’ equity:
Common stock (1)			24,876			24,882			24,698
Surplus (1)			102,893,483			102,784,831			102,457,705
Retained earnings (accumulated deficit)			6,787,654			4,714,375			(2,484,500	)
Treasury stock, at cost			(1,284,359	)		(1,265,731	)		(1,132,905	)
Accumulated other comprehensive loss			(5,925,617	)		(5,727,413	)		(6,828,152	)
TOTAL STOCKHOLDERS’ EQUITY			102,496,037			100,530,944			92,036,846

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373

(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
SUPPLEMENTAL INFORMATION

		(Unaudited)
		Three Months Ended
		June 30,			March 31,			June 30,

FOR THE PERIOD
Net income		$	3,297,701		$	2,629,807		$	1,849,037
Net income before taxes			4,272,476			3,455,892			2,480,499
Dividends declared per share (1)			0.50			–			0.50


PERIOD END BALANCE
Total assets		$	1,433,966,515		$	1,379,250,902		$	1,211,135,373
Total investments			140,544,711			134,968,153			115,526,915
Total loans, net			1,194,068,480			1,128,021,344			982,319,933
Allowance for credit losses			(14,033,740	)		(13,347,855	)		(12,434,131	)
Total deposits			1,249,201,690			1,200,947,411			1,013,870,548
Stockholders’ equity			102,496,037			100,530,944			92,036,846


RATIO ANALYSIS
Return on average assets (annualized)			0.94	%		0.79	%		0.63	%
Return on average equity (annualized)			12.62	%		10.64	%		8.26	%
Net loans/Deposits			95.59	%		93.93	%		96.89	%
Total Stockholders’ Equity/Total assets			7.15	%		7.29	%		7.60	%
Net loan losses/Total loans			-0.00	%		0.01	%		0.01	%
Uninsured & unpledged deposits			32.37	%		31.00	%		31.21	%


PER SHARE DATA
Shares outstanding (1)			2,448,246			2,449,317			2,435,700
Weighted average shares outstanding (1)			2,448,734			2,446,747			2,291,316
Diluted weighted average shares outstanding (1)			2,454,485			2,451,161			2,291,316
Basic earnings (1)		$	1.35		$	1.07		$	0.81
Diluted earnings (1)			1.34			1.07			0.81
Book value (1)			41.87			41.04			37.79
Tangible book value (1)			41.17			40.33			37.00


ASSET QUALITY
Net (recoveries) charge-offs		$	(10,889	)	$	136,970		$	110,968
Classified assets			402,406			853,745			1,090,758
Nonperforming loans			364,853			419,985			32,054
Nonperforming assets			364,853			730,391			809,660
Total nonperforming loans/Total loans			0.03	%		0.04	%		0.00	%
Total nonperforming loans/Total assets			0.03	%		0.03	%		0.00	%
Total nonperforming assets/Total assets			0.03	%		0.05	%		0.07	%
Allowance for credit losses/Total loans			1.16	%		1.17	%		1.25	%


(1	)	Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)

		Three Months Ended
		June 30,						March 31,						June 30,
			2025						2025						2024
		Average				Average		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate

Interest-earning assets:
Federal funds sold and other		$	15,102,485	$	175,917	4.67	%	$	23,287,989	$	232,978	4.06	%	$	11,798,448	$	162,250	5.53	%
Investment securities available-for-sale (1)			138,229,178		1,289,470	3.74	%		133,405,472		1,208,821	3.67	%		114,427,481		941,900	3.31	%
Loans receivable			1,169,591,045		19,611,698	6.73	%		1,106,648,533		18,315,006	6.71	%		973,396,880		15,763,452	6.51	%
Total interest-earning assets			1,322,922,708	$	21,077,085	6.39	%		1,263,341,994	$	19,756,805	6.34	%		1,099,622,809	$	16,867,602	6.17	%
Noninterest-earning assets			81,927,528						81,821,189						74,503,352
Total assets		$	1,404,850,236					$	1,345,163,183					$	1,174,126,161
Interest-bearing liabilities:
Interest-bearing deposits		$	985,435,006	$	8,538,199	3.48	%	$	937,669,969	$	8,312,455	3.60	%	$	770,303,642	$	7,106,512	3.71	%
FHLB advances and federal funds purchased			26,552,308		303,973	4.59	%		36,654,930		406,079	4.49	%		40,440,625		470,050	4.67	%
Notes payable			26,150,819		477,735	7.33	%		26,131,761		475,425	7.38	%		25,506,601		398,017	6.28	%
Total interest-bearing liabilities			1,038,138,133	$	9,319,907	3.60	%		1,000,456,660	$	9,193,959	3.73	%		836,250,868	$	7,974,579	3.84	%
Noninterest-bearing liabilities			261,876,451						244,466,979						247,820,333
Total liabilities			1,300,014,584						1,244,923,639						1,084,071,201
Stockholders’ equity			104,835,652						100,239,544						90,054,960
Total liabilities and stockholders’ equity		$	1,404,850,236					$	1,345,163,183					$	1,174,126,161
Net interest-earning assets		$	284,784,575					$	262,885,334					$	263,371,941
Net interest spread				$	11,757,178	2.79	%			$	10,562,846	2.61	%			$	8,893,023	2.33	%
Net interest margin						3.56	%					3.39	%					3.25	%

(1	)	Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)

		Six Months Ended June 30,
			2025						2024
		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate

Interest-earning assets:
Federal funds sold and other		$	19,172,625	$	408,895	4.30	%	$	10,071,062	$	258,404	5.16	%
Investment securities available-for-sale (1)			135,830,651		2,498,291	3.71	%		114,434,010		1,842,786	3.24	%
Loans receivable			1,138,293,665		37,926,704	6.72	%		967,102,566		30,758,374	6.40	%
Total interest-earning assets			1,293,296,941	$	40,833,890	6.37	%		1,091,607,638	$	32,859,564	6.05	%
Noninterest-earning assets			81,874,656						72,612,145
Total assets		$	1,375,171,597					$	1,164,219,783
Interest-bearing liabilities:
Interest-bearing deposits		$	961,684,434	$	16,850,654	3.53	%	$	766,601,621	$	14,091,305	3.70	%
FHLB advances and federal funds purchased			31,575,711		710,052	4.53	%		45,594,923		1,068,629	4.71	%
Notes payable			26,141,343		953,160	7.35	%		25,500,463		796,034	6.28	%
Total interest-bearing liabilities			1,019,401,488	$	18,513,866	3.66	%		837,697,007	$	15,955,968	3.83	%
Noninterest-bearing liabilities			253,207,317						240,831,655
Total liabilities			1,272,608,805						1,078,528,662
Stockholders’ equity			102,562,792						85,691,121
Total liabilities and stockholders’ equity		$	1,375,171,597					$	1,164,219,783
Net interest-earning assets		$	273,895,453					$	253,910,631
Net interest spread				$	22,320,024	2.70	%			$	16,903,596	2.22	%
Net interest margin						3.48	%					3.11	%

(1	)	Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).

The MIL Network –

July 16, 2025

MIL-OSI: New Payscale Research Points to AI and Social Media Driving Salary Misinformation

Source: GlobeNewswire (MIL-OSI)

1 in 5 employees are sourcing salary information from AI assistants and another 1 in 5 are turning to social media platforms like TikTok, Reddit, Instagram, and Facebook
27% of employees using AI assistants, like ChatGPT, for salary research said it gave them higher salary expectations than other sources and 38% of employers agree that the use of generative AI in salary research is driving salary higher expectations than ever
63% of HR and business leaders surveyed have seen an increase in employees coming to them with salary requests based on inaccurate or unverified data in the last year, with nearly half reporting an increase in employee turnover due to salary-related conflicts over the past year

BOSTON, July 15, 2025 (GLOBE NEWSWIRE) — Payscale Inc., the leading provider of compensation intelligence solutions, today released its 2025 Pay Confidence Gap Report, revealing a widening disconnect between employers and employees around salary expectations, fueled by pay misinformation.

Generative AI is quickly becoming a go-to tool in salary research. The 2025 Pay Confidence Gap Report shows that roughly one in five employees (18%) turn to AI assistants like ChatGPT for compensation insights, and 70% of employers have noticed a rise in employees using AI to shape salary expectations. But using generative AI as a barometer of salary expectations is creating new tensions; 27% of AI-using employees say it inflated their expectations compared to other sources, and 38% of employers agree AI tools are driving salary demands higher than ever before.

Social media platforms like TikTok, Reddit, Instagram, and Facebook are also major drivers of unverified salary information. With one in five employees (19%) using these platforms for their salary research, the spread of pay misinformation is further amplified. In fact, 63% of HR and business leaders surveyed have seen an increase in employees coming to them with salary requests based on inaccurate or unverified data in the last year. This is fueling employee distrust around salaries, with nearly half (48%) of employers reporting an increase in employee turnover due to salary-related conflicts over the past year.

The report reveals that employers may be underestimating this pay confidence gap and falling short on effectively communicating pay decisions and strategies. Employers overwhelmingly believe their employees trust their pay decisions (93%). However, employees aren’t so optimistic, with only two thirds (69%) reporting they trust their employer’s decisions on pay. Almost half of employees (41%) say they have never had a transparent discussion with their employer about how their pay is determined. Without clear communications from managers and HR leadership, employees are left to seek information from other sources like AI and social media.

“The avenues for employees to educate themselves on salary expectations are expanding,” said Ruth Thomas, chief compensation strategist at Payscale. “Employees are still gaining knowledge from traditional sources like family and friends and industry salary guides, but AI and social media are driving up salary expectations without the verified data and role context needed to inform compensation. In the face of mounting misinformation, too many employers aren’t having the right conversations with their employees about pay. It’s critical they develop compensation strategies that are rooted in transparency, driven by data, and ensure compensation decisions are communicated clearly to improve pay confidence among employees.”

Additional findings from Payscale’s Pay Confidence Gap Report include:

Salary conversations are becoming increasingly challenging for employers to navigate: Almost three quarters (72%) of employers have seen an increase in employees negotiating salaries based on information they’ve found online in the last year, highlighting the importance of arming managers with the right data to navigate tough pay conversations. Two-thirds (66%) of employees would consider leaving their job if a pay conversation is handled poorly. To combat the rise of tough pay conversations, HR leaders are looking for support from leadership on pay decisions (46%), greater pay transparency (44%), and reliable, accurate, and up-to-date compensation data insights (42%).
Cost of labor versus cost of living puts regional pay differences in the spotlight: While employers are more focused on the cost of labor, employees are feeling the strain of the rising cost of living. Two-thirds (66%) of employers reported an increase in the number of employees challenging their pay based on the local cost of living in the last year and almost half (47%) report internal conflicts over pay differences between employees in different geographies. As a result of these conflicts, almost half (49%) of employees have considered leaving their job in the last year because they don’t feel their salary has kept up with the cost of living in their city or region. Two thirds (64%) of the employers surveyed say they are actively hiring U.S. employees from locations with a lower cost of living to keep salaries down.
Economic uncertainty reshapes pay conversations and workforce decisions: The state of the economy is impacting salary conversations for both employers and employees. More than half (53%) of employers expect pay conversations to become more challenging over the next year due to economic uncertainty. A third (33%) are reassessing their pay structures and 32% report being more cautious with pay increases. For employees, the report reveals an equally cautious approach to pay conversations, with only 23% saying they are more likely to ask for a salary increase in the current economic climate.
A growing focus on merit-based pay amid an ongoing talent crunch: Skills shortages are reshaping employee leverage in pay negotiations. Over two-thirds of employers (68%) say skills shortages have impacted employee bargaining power over the past year, and most (70%) have increased compensation beyond typical pay ranges to attract or retain top performers. Employees bringing special skills expect to be rewarded for high performance, and 76% of those surveyed said they would consider leaving their job if their performance isn’t adequately reflected in their compensation package. Yet, a third (32%) of employees surveyed feel they are not adequately compensated based on their performance. Employees at lower job levels were more likely than managers or executives to feel that their performance did not affect their pay.

To provide a comprehensive analysis of the key compensation challenges facing employers and employees, Payscale surveyed 1,000 US employees (aged 18+) and 500 US business leaders, HR leaders, and HR managers with responsibility for compensation decision-making within their organization. The full report and its methodology can be accessed here.

About Payscale

Payscale is the original compensation innovator for organizations who want to scale their business with pay and transform their largest investment into their greatest advantage. With decades of innovation in sourcing reputable data and developing AI-powered tools, Payscale delivers actionable insights that turn pay from a cost to a catalyst. Its suite of solutions — Payfactors, Marketpay, and Paycycle — empower 65% of Fortune 500 companies and businesses like Panasonic, ZoomInfo, Chipotle, AccentCare, University of Washington, American Airlines, and TJX Companies.

Create confidence in your compensation. Payscale.

To learn more, visit www.payscale.com.

Contact: Press@Payscale.com

The MIL Network –

July 16, 2025

MIL-OSI Africa: World Youth Skills Day: For Jenny Ambukiyenyi Onya, Artificial Intelligence (AI) is transforming African women livestock farmers’ herds into a source of finance

Source: APO

A dirt road in Kenya. Heavy heat shimmers over the surrounding savannah. A loan officer approaches a herd of cattle and pulls out a smartphone. Standing next to the owner, a woman with a proud yet cautious gaze, he photographs an animal. Hundreds of miles away, an artificial intelligence algorithm transforms that animal into a bankable asset.

This scene illustrates the quiet revolution led by Jenny Ambukiyenyi Onya. A young Congolese engineer, she is tackling a paradox that traps millions of women living in rural areas in precarious conditions. The challenge is staggering. Sub-Saharan Africa has around 200 million smallholder farmers, a significant proportion of whom raise livestock. Women account for up to 60 percent of these farmers, representing an economic force of 80-120 million rural female livestock keepers.

Yet, this force remains virtually invisible to the financial system. Studies conducted by the Food and Agriculture Organization of the United Nations (FAO) show that women receive only 10 percent of smallholder-targeted loans and barely 1 percent of all agricultural loans. The result? An estimated between 70-115 million women are effectively excluded from formal financing.

Their livestock is their savings account. But without a reliable way to document their herds, how can they prove ownership of 10 cows? Traditional methods, such as ear tags, are fragile and easy to falsify, making verification by a banker nearly impossible and turning a woman’s most valuable asset into an invalid guarantee.

“It was by combining these two realities – a need for reliability in the field and in-house technical expertise – that the idea emerged: why not apply AI to recognizing assets such as livestock?” explains Jenny.

Her solution, Halisi Livestock, works like facial recognition for animals. “A loan officer can take a photo of a cow’s face using a simple smartphone,” she explains. “Using biometric recognition algorithms, our AI analyses each animal’s unique features and generates a digital identity that cannot be falsified.”

This innovation is the key to unlocking financing. First, the digital identity provides farmers with a reliable, indisputable way to count and value their herds. Next, the digital inventory serves as irrefutable proof of ownership, transforming a moving asset into a verifiable guarantee. Finally, this collateral, which can be verified remotely, gives financial institutions the confidence to approve loans.

“For a financial institution, it is no longer a rough estimate, but concrete and reliable data. We are no longer talking about an ‘informal’ profile, but a digital asset that is registered, verified, and integrated into a structured portfolio,” summarizes Jenny. Trust, built on data, finally opens the doors to credit.

The transition from promising innovation to large-scale solution was achieved thanks to the “Enhancing Women Entrepreneurship for Africa” programme, supported by Affirmative Finance Action for Women in Africa (AFAWA) (https://apo-opa.co/4nKHta9), the African Development Bank’s initiative for financing women in Africa. “Joining the programme marked a turning point in our journey,” Jenny acknowledges. “The support provided allowed us to benefit from strategic guidance to strengthen our vision and above all, to refine our product in order to achieve a better fit between the product and the market.” Thanks to this support, the company she founded, Neotex.ai, has rolled out its services in new rural areas in Kenya, registering more than 1,250 head of livestock and proving the viability of its model.

Beyond facilitating access to loans, Jenny Ambukiyenyi Onya’s vision is to redefine the role of rural economies in Africa. She believes technology makes the livestock sector “visible, measurable and able to be modelled” for investors and policymakers.

Her message is twofold. She calls on financial institutions to invest “in high-potential local economies, often led by women.” To young African women dreaming of innovating, she offers her own journey as proof. “Dare to create. Even in sectors where you are not expected to. If I can build disruptive solutions from a cell phone and a herd of cows, you too can reinvent what no one has yet dared to imagine.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Editor’s note:
15 July 2025 marks the 10^thanniversary of the United Nations World Youth Skills Day. This year’s theme focuses on empowering young people through artificial intelligence and digital skills.

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Media files

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MIL OSI Africa –

July 16, 2025

MIL-OSI United Kingdom: Mayor heads historic trade mission to Africa to drive trade, investment and cultural links

Source: Mayor of London

Sadiq is first Mayor of London to lead trade mission to Africa
Mayor will visit Nigeria, Ghana and South Africa to boost trade and growth and further develop cultural links
Mayor to visit four cities in five days – Lagos, Accra, Johannesburg and Cape Town
Trade between UK and Africa worth £50bn
The Mayor says that over the next decade there are ‘huge opportunities’ to deepen partnerships between London and African nations.

Sadiq Khan will this week become the first Mayor of London to lead a trade mission to Africa, banging the drum for the capital as a place to invest and strengthening ties with countries across the continent.

Sadiq will visit Lagos in Nigeria, Accra in Ghana, and Johannesburg and Cape Town in South Africa – four cities in five days – to boost trade links with London and build on extensive connections between the region and the capital’s growing African diaspora.

Alongside the visit, the Mayor’s growth agency London & Partners will host a trade delegation of 27 London-based companies that are looking to grow their business and access opportunities in this dynamic and important region of the world.

The bilateral trade relationship between Africa and London has shown consistent growth over recent years, despite global challenges. More businesses from London expand into Africa than from any other city globally and the UK stands as one of Africa’s significant trading partners. With trade between the UK and Africa worth £50bn in 2024* and UK exports up six per cent year on year, the Mayor is hoping that his visit will contribute to future economic growth both in London and the cities he visits.

The visit also helps to celebrate London’s cultural links and history with the African continent. Londoners of African heritage have played, and continue to play, a huge part of life in the capital, from food and music, to art and culture and sport. Nigeria is the eighth most common country of birth for Londoners, with the country among the top 10 fastest growing populations in London, and Ghana in the top 30 fastest growing between 2001 and 2021. Last month London hosted the football Unity Cup, which saw Ghana and Nigeria go head-to-head in a semi-final at Brentford’s stadium.

New analysis from Dealroom has ranked Lagos as the world’s top emerging tech hub.** In Lagos, the Mayor will attend a flagship tech event hosted by London and Partners, the growth agency for London, where he will encourage Nigerian tech businesses to invest in London.

Just last week, Guaranty Trust Holding Company Plc (GTCO) became the first Nigerian banking entity to list all of its shares directly on the London Stock Exchange, highlighting the close economic ties that already exist between London and the African continent.

Africa’s Creative Vibrancy Index ranks Lagos as the top city for creative economy performance and the Mayor will also host a major culture and creative industries reception to celebrate the status of Lagos and London as cultural and creative industry powerhouses. This will also look to encourage even greater ties between the creative industry ecosystems in both cities – from the arts to music and film.

Trade between the UK and Ghana stood at around £1.4 billion in 2024. In Accra, the Mayor will deliver a speech on innovation and entrepreneurship to students at the University of Ghana, hosted by Imperial College London. Imperial is the first UK university to have a permanent base solely focused on science and technology in Africa, building on the rapid increase in the number of scientific advancements and breakthroughs by researchers from Imperial working with scientists in Ghana in recent years. He will also launch the British High Commission’s new business campaign that will promote trade between the two cities.

In Johannesburg, the Mayor will commemorate Mandela Day – an annual international day in honour of Nelson Mandela, celebrated each year on 18 July, Mandela’s birthday. Nelson Mandela made a number of visits to London during his lifetime, including a state visit in 1996 by invitation of Queen Elizabeth II, and speaking in Trafalgar Square in 2005 in support of the Make Poverty History Campaign. His impact on South Africa, the UK and the wider world is celebrated by a statue in Parliament Square, and last year the Mayor provided funding to support the first cultural centre and museum dedicated to the history of the Anti-Apartheid Movement in Britain.

Finally, the Mayor will visit Cape Town where he will join London businesses from his trade delegation who are seeking new opportunities in Africa. He will attend London & Partners’ London x Cape Town Tech Summit, which will bring together London and South Africa’s dynamic tech sectors, developing opportunities for collaboration between the two cities in driving innovation, attracting investment and scaling transformative technologies. He will also take part in events marking the huge role sport can play in supporting communities, both in London and in Africa.

The Mayor of London, Sadiq Khan, said: “I am delighted to be visiting Africa this week – the first visit of its kind by a Mayor of London – to bang the drum for the capital and further develop the strong ties between our countries.

“Africa has the world’s fastest growing populations, and is seeing major economic growth across many of its economies. Over the next decade there are huge opportunities to deepen partnerships with London. I will be working tirelessly throughout this visit to drive trade and investment across critical sectors including finance, education, health, tech creative and sustainability.

“Londoners of African heritage have played, and continue to play, a huge role in making London the greatest city in the world, and this trip is an opportunity to celebrate our shared heritage, history and culture with the African continent – as we build a better and fairer city for everyone.”

Laura Citron, CEO of London & Partners, said: “London is one of the best places in the world to build a business. But it doesn’t thrive in isolation. Its strength comes from global connections. Markets like Nigeria, South Africa and Kenya offer real opportunities for growth. These trade missions focus on building strong partnerships between London and some of the most important emerging business hubs in the region. London is home to important African diaspora communities, which are a great strength in our diverse city.”

Lord Collins of Highbury, UK Minister for Africa said: “Sir Sadiq’s visit marks an exciting moment for the UK’s relationship with countries across Africa, and is a strong demonstration of our commitment to deepening our ties with the continent.

“Strengthening our trade, investment, and cultural ties is not only vital for shared economic growth, but also for fostering long-term partnerships that are rooted in respect and open up opportunities for all.”

Dr Lloyd Anderson, the Acting Regional Director for Sub Saharan at the British Council, said: “On behalf of the British Council in Sub Saharan Africa, I am delighted to welcome Mayor Sadiq Khan on his historic trade mission to this vibrant continent. The visit will not only strengthen the bonds between London and Africa, but showcase the immense potential for trade, investment and cultural programmes.

“Given Africa’s dynamic economies and diverse cultures, there are precedented opportunities for collaborations that celebrate our shared heritage and drive innovation across sectors such as creative industries and education. I look forward to witnessing the fruitful partnerships that will emerge from this mission, enhancing not only economic ties but also the cultural connections that enrich both London and Africa.”

Jonny Baxter, British Deputy High Commissioner in Lagos, said: “The Mayor of London’s visit underscores the UK Government’s commitment to strengthening economic and cultural ties with Nigeria. From trade to fintech and fashion, our collaboration is driving innovation and growth.

“Through the UK-Nigeria Enhanced Trade and Investment Partnership, we’re committed to unlocking new opportunities that benefit both our economies, and this visit is a powerful step forward in that journey of inclusive growth.”

Antony Phillipson, British High Commissioner to South Africa, said: “The Mayor of London’s visit marks a significant moment in deepening the economic ties between South Africa and London, with a focus on trade, innovation, and cultural links. His engagements in Cape Town show the tangible benefits of collaboration to drive inclusive, sustainable growth for both our economies.”

Orla Browne, Head of Insights at Dealroom, said: “Lagos is the world’s top emerging tech hub in our 2025 ‘Rising Stars’ ranking — and for good reason. Its tech ecosystem has grown 11-fold in enterprise value since 2017 to $15B, produced five unicorns like Flutterwave and OPay, and attracted significant foreign investment. In the context of a low-income national economy, Lagos shows how tech can be a powerful driver of economic growth.”

Tom Attenborough, Head of International Primary Markets, London Stock Exchange Group, said; “The London Stock Exchange has been a consistent funding partner – both to Governments and to the wider African economy – with more than 90% of the bonds issued by African Sovereigns currently listed on our markets and more than 100 companies from 20 African countries with a market capitalisation of $110bn listed here. London’s capital markets continue to play actively in directing financing to opportunities that support economic development across Africa.”

Olu Alake, CEO of The Africa Centre, London UK, said: “The Africa Centre warmly welcomes The Mayor of London’s trade mission to Nigeria, Ghana and South Africa as part of his office’s focus on Africa. For over 60 years, we have had the pleasure of fostering meaningful engagements and innovative partnerships between the United Kingdom and the African continent. Mayor Khan’s visit represents a timely and strategic opportunity to deepen economic, cultural and innovation ties with the continent in a spirit of genuine partnership. We stand ready to support all efforts that will advance inclusive growth and mutual prosperity.”

London-based businesses in Africa as part of London & Partners trade delegation include fintech company Abound who specialise in AI-powered lending.

Michelle He, Co-Founder and COO of Abound said: “We’re excited to take part in this historic trade mission to Africa. We’ve already partnered with one African unicorn, LemFi, and are excited to continue to grow our presence in what is becoming such an important fintech hub.”

MIL OSI United Kingdom –

July 16, 2025

MIL-OSI Russia: Don’t miss your station: all escalators lead to Polytech

Translation. Region: Russian Federal

Source: Peter the Great St. Petersburg Polytechnic University –

An important disclaimer is at the bottom of this article.

The heat is on: real summer has arrived in St. Petersburg, and applicants have just over a week to apply for admission to a university. There are many opportunities, but it is difficult to make the right choice. Not all graduates leave school with a clear understanding of where exactly they will go to get higher education. Sometimes a strong emotion becomes a turning point for making a decision. For example, many students stay to study at the Polytechnic University under the impression of the beauty of its buildings and park. But first, they need to get there. Potential students will be helped by… superheroes of the Polytechnic Universe.

Now you can see them on light boxes in the vestibules and on the escalators of eleven stations of the St. Petersburg metro, and they will definitely not let you go astray. If you get on the wrong line, change to the red one. If you hear in the train: “The next station is Politekhnicheskaya”, get off, this is where you need to go. Go up the escalator, the superheroes will wave their hand in greeting – and now you are outside, and you are greeted by the snow-white main building of the Polytechnic and a green park with a 46-meter old tower. You must admit, there is no better place for student life.

“This year we have kept the slogan of the previous admissions campaign, “You are the main hero!” It has proven itself well,” said Dmitry Voronov, Head of the Department for Promotion of Educational Programs at SPbPU. “The corporate style with comic book characters was created by the Visual Communications Department of the Public Relations Office, and the advertising layouts were prepared by the Department for Promotion of Educational Programs.”

Let us recall that in 2024, almost 145 thousand applications were submitted for budget places in the bachelor’s and specialist’s degree programs at the Polytechnic University – this is 70% more than in 2023. It is too early to sum up the results of the 2025 admissions campaign, but by July 15, 108,126 applications had already been submitted for all forms of study in the bachelor’s and specialist’s degree programs. The largest number – 26,000 applications – were received by the Institute of Computer Science and Cybersecurity, in second place (25,000) – the Institute of Industrial Management, Economics and Trade, in third (12,000) – the Institute of Mechanical Engineering, Materials and Transport.

Among the areas of training, the most popular are “Software Engineering”, “Construction”, “Information Systems and Technologies”.

The admissions committee notes the continued high demand of applicants for all areas of the IT sphere and the growing interest in such areas of training as: “Nuclear Power Engineering and Thermal Physics”, “Thermal Power Engineering and Thermal Engineering”, “Automation of Technological Processes and Production”, “Biotechnology”.

The acceptance of documents continues. The rules of the admission campaign and its progress can be found aton our website.