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  • MIL-OSI: RI Mining Launches Global Mobile Cloud Mining Platform – Earn Passive Income with XRP

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 17, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market enters an era defined by clear regulation and increased demand for compliant digital assets, RI Mining has announced the launch of its advanced global mobile cloud mining platform, powered by XRP. Recent legislative developments during the U.S. “Cryptocurrency Week,” including the passage of critical regulations such as the CLARITY Act and the Anti-CBDC Act, have notably boosted investor confidence and driven XRP prices upward.

    Industry Landscape: Why Now?

    The cryptocurrency industry has reached a pivotal turning point, with regulatory frameworks providing greater transparency and certainty. XRP, in particular, has emerged as one of the most practical assets for on-chain efficiency—offering near-instant settlement, low transaction fees, and growing adoption in global payment systems. Its scalability and compliance-friendly architecture also make it a preferred choice among institutional and retail investors seeking exposure to regulated digital finance.

    RI Mining addresses these industry challenges through its mobile cloud mining platform, leveraging XRP rapid settlement capabilities and deploying decentralized, off-grid mining farms powered by cloud infrastructure.

    Key Features of RI Mining Platform

    – Mobile-First Design: Fully accessible via smartphones (iOS and Android) and web browsers, facilitating mining anytime and anywhere.
    – No Hardware Required: Cloud-based operations eliminate expensive equipment and technical complexity.
    – XRP-Focused Mining Efficiency: Capitalizes on XRP rapid settlement speed and low transaction fees to optimize user earnings.
    – AI-Driven Optimization: Advanced artificial intelligence dynamically manages mining resources for maximum profitability and reduced costs.
    – Multi-Cryptocurrency Flexibility: Supports mining of Bitcoin (BTC), Ethereum (ETH),USDT（TRON） and Dogecoin (DOGE), in addition to XRP.
    – Sustainable Mining Practices: Operates with 100% renewable energy sources, adhering to global environmental and social governance (ESG) standards.
    – Transparent Earnings System: Daily earnings tracking with instant withdrawal or reinvestment options, enhancing user control and transparency.

    Real User Experience: Empowering Investors

    Jennifer Adams, an XRP holder living in Los Angeles, shared her success story: “Before using RI Mining, I was intimidated by the complexity and cost of traditional cryptocurrency mining. RI Mining’s mobile platform has completely changed the way I invest and allows me to earn an ongoing passive income right from my smartphone. The entire process is seamless and transparent, which fits my busy lifestyle perfectly.”

    How Investors Can Get Started – Register & Get $15

    RI Mining offers a straightforward and user-friendly onboarding process:

    1. Visit https://rimining.com/ or download the RI Mining mobile app
     2. Register an account and link your XRP wallet address3. Choose a suitable cloud mining contract tailored to your investment goals.
    4. Automatically begin mining and receive daily earnings credited directly to your account.
    5. Enjoy flexibility by withdrawing or reinvesting your earnings at any time.

    Flexible and diverse contracts, the following are popular choices for quick returns

    $15 contract: 1 day contract period, profit $15 + $0.6
    $100 contract: 2 days contract period, profit $100 + $8
    $500 contract: 5 days contract period, profit $500 + $43
    $1,000 contract: 10 days contract period, profit $1000.00 + $135
    $4,800 contract: 21 days contract period, profit $4800.00 + $1471.68

    (Click here to view more potential profitable contracts)

    RI Mining – Start convenient mobile cloud mining

    The shift toward smarter, more accessible crypto solutions is accelerating. As the market aligns with clarity and demand grows for frictionless mining experiences, one thing becomes clear: the future of earning in crypto may already be in your hand.

    Official website: https://rimining.com/

    Download app: Google Play Store and More downloads

    Disclaimer:This press release is provided for informational purposes only and does not constitute financial or investment advice. Cryptocurrency mining involves inherent risks, including market volatility and potential financial loss. Investors are advised to perform thorough due diligence and consult professional advisors prior to participating.

    Attachment

    The MIL Network –

  • MIL-OSI: Commercial Drone Applications Rapidly Expanding as a Huge Spotlight is Currently Shining on Drone Industry

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 17, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – On the heels of the latest Drone Production Governmental initiatives and Executive Orders, manufacturing efforts have rapidly increased. For example, in the commercial drone space, the Indoor Inspection and Surveillance Drone Market is growing globally. Technological advancements in drone capabilities have significantly improved their suitability for industrial applications. Modern drones are equipped with advanced sensors, improved navigation systems, and enhanced safety features, enabling precise inspections in complex indoor environments. These enhancements align with industry demands for efficient and safe inspection methods, thereby driving market growth. Furthermore, as governments worldwide recognize the benefits of drones in industrial operations, supportive policies are being implemented to facilitate their integration. The increasing investment in drone research and development is an opportunity for manufacturers to innovate and develop drones tailored to industry-specific needs, expanding their application scope. According to industry reports: “Warehouse inspection has emerged as one of the most critical applications for indoor inspection drones, driven by the increasing complexity of supply chain operations and the increasing demand for automation in logistics. Warehouses, particularly those in e-commerce, retail, and third-party logistics, require regular inspections to ensure operational efficiency, inventory accuracy, and infrastructure maintenance. The manufacturing sector has become one of the leading adopters of indoor inspection drones, driven by the increasing need for automation, precision monitoring, and predictive maintenance. Manufacturing facilities, particularly in industries such as automotive, aerospace, and electronics, require frequent inspections of machinery, production lines, and inventory storage areas to ensure operational efficiency and compliance with quality standards. Indoor drones equipped with AI-powered visual imaging and thermal sensors enable real-time monitoring of production processes, detecting potential defects, equipment malfunctions, and structural vulnerabilities.” Active Companies in the drone industries include ZenaTech, Inc. (NASDAQ: ZENA), ParaZero Technologies Ltd. (NASDAQ: PRZO), NVIDIA Corporation (NASDAQ: NVDA), Archer Aviation Inc. (NYSE: ACHR), AIRO Group Holdings, Inc. (NASDAQ: AIRO).

    The article continued: “The North American indoor inspection drone market is witnessing substantial growth, driven by increasing industrial automation, stringent safety regulations, and advancements in drone technology. On the basis of Type, the Global Indoor Inspection Drone Market has been segmented into Rotary-wing Drones, Hybrid Drones, Fixed-wing Drones. Rotary-wing Drones accounted for the largest market share of 78.65% in 2024, with a market value of USD 4,013.90 Million and is projected to grow at a CAGR of 16.86% during the forecast period. Hybrid Drones was the second-largest market in 2024. Rotary-wing drones are the most commonly used type in indoor inspection applications as a result of their ability to hover, maneuver in tight spaces, and perform precise inspections in complex industrial environments. These drones feature multiple rotors that provide stability and control, making them ideal for navigating confined areas such as warehouses, factories, and energy facilities. Their growth is primarily driven by advancements in autonomous navigation, AI-powered obstacle avoidance, and real-time data analytics.”

    ZenaTech (NASDAQ:ZENA) Releases Video of ZenaDrone’s IQ Nano Indoor Inventory AI Drone for US Defense and Government – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a business technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, today releases an exclusive video of ZenaDrone’s IQ Nano indoor drone for inventory management and security applications. The video footage showcases the drone’s precision navigation in complex warehouse environments for rapid stock-taking and real-time data integration—capabilities that can improve US military logistics and bolsters supply chain modernization.

    Watch ZenaDrone’s IQ Nano indoor inventory AI drone in operation here.

    The ZenaDrone IQ Nano is a tactical indoor drone engineered and designed for GPS-denied, confined, or high-risk environments where traditional systems and personnel face operational challenges. Engineered for precision, it automates inventory management by scanning barcodes or RFID tags in armories and warehouses, while seamlessly integrating with SAP-based systems for real-time NSN (National Stock Number) military stock tracking verification and cycle counts and eliminating human error. Equipped with HD/thermal imaging and LiDAR, and AI-powered anomaly detection, it also combines secure indoor surveillance and security of command centers, ammunition depots, and restricted zones, with stable hover capabilities, and obstacle avoidance.

    “With the IQ Nano, we are delivering more than a drone—we’re deploying a mission-critical logistics asset built for a technologically advanced military,” said Shaun Passley, Ph.D., ZenaTech CEO. “The US federal government, including the Department of Defense, operates over a billion square feet of warehouse and storage space globally, representing a large opportunity. Our drone is also designed to operate where GPS fails and risks run high for unmatched precision, automation, and situational awareness. We will commence demonstrations of this product in August, a key step in our go-to-market plan.”

    The IQ Nano is part of ZenaDrone’s IQ Series product portfolio. This autonomous indoor drone features an NDAA-compliant supply chain that excludes Chinese produced components. The company has initiated submission for the Green UAS certification – the required pathway to Blue UAS (Unmanned Autonomous Systems) approval for US military procurement listing. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the drone industries include:

    ParaZero Technologies Ltd. (NASDAQ: PRZO), an aerospace defense company pioneering smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry, recently announced the successful completion of a live demonstration of its DefendAir™ Personal Net Gun System to a select group of Israeli security and defense professionals.

    The demonstration was attended by 25 senior officers and experts from various tactical units and critical infrastructure defense entities. During the live field simulation, ParaZero’s DefendAir system demonstrated 100% interception success, effectively neutralizing every fast-incoming multirotor drone threat in real-time scenarios. While specific affiliations remain confidential, participants represented top-level Israeli national security sectors, including site protection and strategic defense planning.

    NVIDIA Corporation (NASDAQ: NVDA) Developments: Vision software company Foresight Autonomous Holdings has integrated Nvidia’s Jetson Orin generative AI computing modules into its 3D-perception system.   Foresight is using Nvidia’s Jetson Orin Nano and Jetson AGX Orin modules to improve the capabilities of its perception systems deployed in various use cases, with a major focus on autonomous drones and unmanned aerial vehicles.

    The Jetson modules, which are used in generative AI, computer vision and advanced robotics, upgrade Foresight’s vision system with the computing power needed for autonomous drones and UAVs, according to Foresight. The Nano module is best suited for compact, lightweight UAVs and provides them with robust AI performance and energy efficiency in a small and lightweight package. The Nano reduces power consumption while maintaining high performance, which makes it well suited for drones operating in wide open or remote areas.

    Archer (NYSE: ACHR) recently announced the company raised an additional $850M following the White House’s announcement last week of an Executive Order by President Trump to implement an eVTOL Integration Pilot Program in the United States. This program is focused on accelerating the deployment of eVTOL aircraft in the U.S.

    Archer intends to closely coordinate with the White House, Department of Transportation and the Federal Aviation Administration on how this can integrate into Archer’s plans to ramp its operations in the U.S. ahead of the LA 28 Olympic Games at which Archer will serve as the Official Air Taxi Provider of the Olympic Games and Team USA. Archer believes cross-industry collaboration will be the key to the success of the eVTOL Integration Pilot Program and the U.S. achieving its goal of “dominance” within this new category of aircraft.

    AIRO Group Holdings, Inc. (NASDAQ: AIRO), a global leader in advanced aerospace and defense technologies, recently announced plans to expand its U.S. footprint with the addition of a new manufacturing and engineering development facility. This strategic move builds on the success of AIRO’s existing operations and is driven by the growing global demand for AIRO’s flagship product, the RQ-35 ISR Drone.

    The RQ-35 ISR Drone has rapidly gained international recognition for its reliability, performance, and mission versatility across defense and security sectors. Known in military applications as the RQ-35 Heidrun, the system offers significant advantages over existing micro-ISR drones due to its combination of full autonomy, long flight endurance, and ease of operation. It has been rigorously tested and deployed in harsh electronic warfare and GPS-denied environments, including active conflict zones, where it has demonstrated exceptional resilience and effectiveness.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty one hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Allied Energy Corporation (OTC: AGYP) Signs Strategic MOU with Green Rain Energy Holdings (OTC: GREH) to Convert Stranded Gas into Power for Texas-Based EV Charging Infrastructure

    Source: GlobeNewswire (MIL-OSI)

    • Allied Energy Corporation (OTC: AGYP) has signed a strategic Memorandum of Understanding (MOU) with Green Rain Energy Holdings Inc. (OTC: GREH) to supply natural gas for powering EV charging stations across Texas, transforming stranded and underutilized gas resources into sustainable energy for high-speed electric vehicle infrastructure.
    • This partnership positions AGYP at the forefront of Texas’s energy transition, leveraging the state’s leadership in oil and gas production alongside over $400 million in NEVI funding to address grid constraints and support the projected 1 million EVs on Texas roads by 2030 through off-grid, localized power generation.
    • By converting natural gas into power for Level 3 DC fast chargers along key corridors like I-35 and I-10, AGYP aims to generate recurring revenue in the $120B+ EV charging market, promote decarbonization, and align with Texas’s goals for energy independence and carbon reduction, as highlighted by President George Monteith.

    DALLAS, July 17, 2025 (GLOBE NEWSWIRE) — Allied Energy Corporation (OTC: AGYP), a Texas-based independent energy producer focused on hydrocarbon production and well-site optimization, is proud to announce the execution of a Memorandum of Understanding (MOU) with Green Rain Energy Holdings Inc. (OTC: GREH), a clean energy infrastructure developer, to supply natural gas for EV charging station deployment across Texas and other high-growth U.S. markets.

    The agreement marks a bold step in bridging traditional energy with the future of electrified transportation, allowing Allied Energy Corporation to monetize a broad spectrum of energy resources to help power the next generation of high-speed charging networks.

    “This is where energy/oil field innovation meets clean energy execution,” said George Monteith, President of Allied Energy Corporation. “We’re taking energy resources that are often wasted, stranded, or underutilized and turning them into revenue-producing power for EV infrastructure. That’s a win for Texas, a win for decarbonization, and a win for investors.”

    Texas: The Epicenter of the Energy Transition

    Texas leads the U.S. in both oil & gas production and energy transition investment. According to the U.S. Department of Energy, Texas is eligible for over $400 million in NEVI funding to expand electric vehicle infrastructure across interstate corridors and underserved areas.

    With more than 1 million EVs projected to hit Texas roads by 2030, and the state facing ongoing grid constraints, there is a growing need for off-grid, localized power generation to support fast-charging infrastructure. This MOU positions Allied Energy Corporation to become a key energy supplier for those systems.

    MOU Highlights: Natural Gas to Power EV Corridors

    Under the agreement, Green Rain Energy Holdings will identify priority charging station corridors, and Allied Energy Corporation will:

    • Conduct gas composition testing, where required (BTU, methane content, impurities)
    • Negotiate surface rights & Energy leases for micro-generation integration
    • Provide quarterly reports on Energy quality and Energy output from all sources.

    The Energy resources will fuel small-scale turbine or generator units that power Level 3 DC fast chargers—bypassing lengthy grid interconnect timelines and enabling rapid deployment in key areas, such as West Texas, the I-35 corridor, and along I-10.

    Economic & Environmental Upside

    This model allows Allied Energy Corporation to:

    • Generate new recurring revenue from all energy sources
    • Participate in the rapidly growing $120B+ EV charging market (Fortune Business Insights, 2024)
    • Provide a cleaner alternative to diesel-based mobile charging units
    • Support Texas’s dual mandate of energy independence and carbon reduction

    “We’re transforming how to use energy resources to create value,” Monteith added. “And we’re doing it in a way that aligns with infrastructure funding, clean air goals, and decentralized energy strategies.”

    The MOU is effective for 120 days and is expected to result in a definitive Energy Purchase and Sales Agreement (EPSA) upon commencement of site development.

    About AGYP:

    Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing ‘existing’ oil & gas wells located in the thousands of mature oil & gas producing fields across the United States. The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. The Company will utilize updated technologies such as hydraulic fracturing (“fracking”), drilling of lateral (“horizontal”) legs in productive zones, and utilizing new cased hole electric logging to locate bypassed pays, all to enhance daily rates and oil & gas recoveries. By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. is diversifying its exposure and effectively minimizing risk as it pursues corporate growth, top line & bottom-line revenues to the benefit of all stakeholders. There are proven, recoverable reserves contained in the many aging oil & gas fields that have been bypassed by companies moving away from these fields in search of deeper, more plentiful, but more costly reserves. The Company plans to concentrate on bypassed oil and gas as there is less competition and, as mentioned above, the costs are considerably less. Additionally, the company will acquire interests in marginal wells that can be acquired at minimal cost, of which there are 420,000 wells in the U.S. Quoting Barry Russell, President of the Independent Petroleum Association of America (“IPAA”) – “With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America’s true strategic petroleum reserve.”

    For more information about Allied Energy Corporation, visit: www.alliedengycorp.com.

    Safe Harbor Statement:

    This press release may contain certain forward-looking statements that are within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.

    Contact:

    Allied Energy Corporation
    Phone: 972-632-2393
    Email: info@alliedengycorp.com
    X: https://x.com/AlliedEnergyCo1

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d2d9c88-6393-4129-8fe3-ce2783eea12a

    The MIL Network –

  • MIL-OSI Russia: Polytechnicians received the national award “People change the country”

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    Five polytechnicians became laureates of the first national award “People Change the Country”. The award ceremony took place in the Zaryadye Concert Hall in Moscow.

    The purpose of the award is to recognize and reward scientists, engineers, and entrepreneurs whose advanced developments improve people’s lives and strengthen the economy and technological sovereignty of the country.

    The award is organised by the Agency for Strategic Initiatives (ASI) together with the Roscongress Foundation with the support of VEB.RF, the Russian Ministry of Defence, the Defenders of the Fatherland Foundation and the autonomous non-profit organisation Russia – Land of Opportunities.

    This year, the award was received by more than a thousand laureates in seven nominations: “National Social Initiative”, “National Technological Initiative”, “National Entrepreneurial Initiative”, “National Personnel Initiative”, “National Ecological and Climate Initiative”, “Defenders of the Fatherland” and “Russia – the Land of Opportunities”.

    In the nomination “National Technological Initiative” the winners were five representatives of the Polytechnic University: the head of the world-class Scientific Center “Advanced Digital Technologies”, chief designer in the scientific and technological direction, acting director of the Advanced Engineering School of SPbPU “Digital Engineering” (AES CI) Alexey Borovkov; deputy director of the Engineering Center “Computer Engineering Center” of AES CI Nikolay Efimov-Soini; director of the Center for Continuing Professional Education of AES CI, senior lecturer of the Higher School of Advanced Digital Technologies Sergey Salkutsan; chief engineer of the project of the Scientific Laboratory “Strategic Development of Engineering Markets” Pavel Kozlovsky; leading specialist of the project support department Maria Rodionova.

    Alexey Borovkov received a high award for actively promoting approaches to creating globally competitive science-intensive products using advanced end-to-end digital technologies. One of the key areas of his activity is the development and implementation of the technology of “digital twins” – an innovative tool that allows you to create virtual copies of products, machines, structures, equipment, as well as model physical, mechanical and technological processes with the highest accuracy. Under the leadership of Alexey Ivanovich, the digital platform CML-Bench® was developed, tested and successfully implemented in production, which became a key tool for creating digital twins. It opened up new opportunities for optimizing design, increasing production efficiency and reducing costs in various industries.

    Other significant projects implemented under the leadership of Alexey Borovkov include: development of body frame elements and structural armor elements for domestic Limousine, Sedan, SUV, and Minibus vehicles based on a single modular platform commissioned by FSUE NAMI; creation of a smart digital twin and experimental prototype of a small-sized urban electric vehicle with a level 3-4 ADAS system (KAMA-1); optimization of the weight of the TV7-117ST-01 engine based on the digital twin technology for UEC-Klimov/JSC UEC; development of a digital twin of a marine gas turbine engine and gearbox as part of the unit commissioned by UEC-Saturn (Rostec State Corporation); creation of the architecture of a highly adequate multiphysical digital model and a digital twin of a vitrification furnace for high-level radioactive waste for PO Mayak (Rosatom State Corporation), etc.

    Nikolay Efimov-Soini, Deputy Director of the Engineering Center “Computer Engineering Center” of the Advanced Engineering School of SPbPU “Digital Engineering”, became a laureate thanks to the project “Development of high-tech products in the field of nuclear engineering based on digital twin technology”. Under the leadership of Nikolay Konstantinovich, a large-scale complex of scientific and technical developments in the field of nuclear engineering of strategic importance for the industry was implemented over three years. Among the key achievements is the creation of digital models of fuel assemblies (FA) for VVER and TVS-K reactors, as well as the proposal of innovative design solutions aimed at increasing the efficiency of fuel assemblies. The developed solutions allow for high-precision modeling of FA behavior throughout the entire fuel cycle, which helps optimize the performance characteristics and improve the safety of nuclear power plants.

    Director of the Center for Continuing Professional Education of the Advanced Engineering School “Digital Engineering” Sergey Salkutsan and Chief Engineer of the Scientific Laboratory “Strategic Development of Engineering Markets” project Pavel Kozlovsky were awarded for educational projects implemented within the framework of the NTI Center “New Production Technologies”, as well as for the development of a family of simulators. By the beginning of 2024, a group of experts from the Advanced Engineering School CI developed five computer simulators available on the Digital Platform CML-Bench®.EDU, which is gradually developing as a separate direction of the Digital Platform for the Development and Application of Digital Twins CML-Bench®. The digital simulator “Lean Manufacturing” is a flagship product that marked the beginning of the creation and scaling of a line of simulators for training students, implementing corporate programs of continuing professional education for employees of the university’s industrial partners, as well as holding professional competitions. It is an online platform for learning the skills, tools and basics of lean manufacturing using practical solutions on a simulator. The digital simulator “Lean Manufacturing” has repeatedly been awarded prizes and diplomas at prestigious competitions in Russia and abroad, and is highly appreciated at the state level.

    In February 2024, the New Industrial Challenge simulators for team competitions and Lean Manufacturing were successfully tested at the Archipelago-2024 project-educational intensive course in Sakhalin. In August of this year, the Polytechnicians will present their developments at Archipelago-2025 in Moscow.

    Leading specialist of the project support department of the Directorate of the Center of the National Technological Initiative “New Production Technologies” Maria Rodionova received an award for her work on the project “Smart Factory: New Standards for Industry 4.0”. The project developed standards in the field of smart production, laying the foundation for the digital transformation of industry. The standards define the key principles of building a smart factory, ensuring technological unification, reducing operating costs and creating an ecosystem for the Industrial Internet of Things (IIoT).

    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.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Boom in passenger travel reported at Jimunai checkpoint on China-Kazakhstan border

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    URUMQI, July 17 (Xinhua) — The incoming and outgoing passenger flow through Jimunai Port in Jimunai County in northwest China’s Xinjiang Uygur Autonomous Region has exceeded 49,000 times this year as of July 15, according to local border control data.

    During the reporting period, 12 thousand vehicles passed through this checkpoint on the Chinese-Kazakh border, the data showed.

    According to Yang Chun, a manager at a local travel agency, the number of cross-border tour groups has increased significantly. He said his company, which offers various tour routes lasting from 1 to 30 days to Kazakhstan, organized tours for car tourists using 28 vehicles in May and June this year.

    The boom in cross-border travel is driven by the implementation of a mutual visa-free regime between China and Kazakhstan, which came into effect in November 2023.

    The visa-free policy makes cross-border travel more convenient, said Aytosh Makhmet, a tourist from Almaty, Kazakhstan, who plans to travel to Burchun County and Urumqi City in Xinjiang and other places during his stay in China.

    The county’s Department of Culture, Sports, Radio, Television and Tourism is working to develop new cross-border tourism products that integrate tourism resources from China and Kazakhstan, allowing domestic travelers to Xinjiang to also enter Kazakhstan through the Jimunai checkpoint, said Liu Shurong, an official with the department. -0-

    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.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: NIST’s Alex Maranghides Receives Service to America Medal

    Source: US Government research organizations

    Alexander Maranghides examines the charred remains of a window frame after an experiment. Data from this series of tests was used to support NIST’s Hazard Mitigation Methodology.
     

    Credit: NIST

    Alexander Maranghides of the National Institute of Standards and Technology (NIST) was named a 2025 Samuel J. Heyman Service to America Medal honoree for his groundbreaking research on protecting people and buildings from wildfires. The award recognizes Maranghides for 25 years of work investigating devastating wildfires in the United States and creating actionable guidelines on how to save lives and property in future fires.

    The medal is awarded by the Partnership for Public Service, a nonprofit organization that recognizes federal employees for exemplary work in making America “better, safer, and stronger.” These prestigious awards are commonly known as “Sammies” and are widely considered to be the public service equivalent of the Oscars. Only around 30 honorees are selected each year out of two million federal employees.

    “For more than two decades, Alex has demonstrated an unmatched ability to identify the most important lessons from wildfires,” said Joannie Chin, director of NIST’s Engineering Laboratory. “He then uses a variety of tools to convey these lessons to state and local officials in ways that they can understand the problem and develop solutions tailored to protect their communities.”

    NIST fire protection engineer Alex Maranghides with his Service to America medal. 

    Credit: Courtesy of A. Maranghides

    Many important questions emerge after a wildfire destroys a community. Why did one house survive unscathed while its neighbors burned to the ground? Did emergency warnings reach people in time for them to evacuate? What caused the fire to spread? Answering each of these questions could save lives in the next wildfire, but finding those answers is a serious undertaking. Maranghides’ most recent investigation, the 2018 Camp Fire in California, involved interviewing hundreds of firefighters, creating detailed minute-to-minute maps of the disaster, and running full-scale laboratory experiments. The final report is more than 1,000 pages long.

    But Maranghides and his collaborators went further than simply describing what happened; they took the lessons they learned to people who need to hear them, condensing decades of research into practical advice. Community outreach was a critical component of the team’s two biggest projects: Hazard Mitigation Methodology (HMM) and Evacuation and Sheltering Considerations — Assessment, Planning, and Execution (ESCAPE). “Those two programs are the most important work I’ve done over my career,” explained Maranghides.

    HMM contains clear guidance and instructions for how to prevent a wildfire from spreading. It includes advice such as how to prevent embers from getting in your attic and how far a woodpile should be kept from other houses. ESCAPE is a practical guide for how to prepare for wildfire sheltering and evacuation. It describes how emergency planners can prepare lifesaving decisions ahead of time and take simple steps to prepare refuge areas as a last resort if evacuation becomes impossible.

    Both programs are beginning to be implemented in communities with a high risk of fire. As wildfires increase in frequency and severity, Maranghides’ research and outreach will save lives.

    This research is part of NIST’s longstanding effort to understand and prepare communities for natural hazards such as hurricanes, earthquakes and tornadoes. NIST researchers Marc Levitan and Long Phan received a Sammie award last year for helping to create the first building codes for tornadoes. As a leader in researching natural hazards, NIST helps ensure a more resilient nation.

    Samuel J. Heyman Service to America honorees are chosen by a selection committee composed of leaders from government, business, charitable organizations, academia, entertainment and media. For further information, visit the Service to America website.

    MIL OSI USA News –

  • MIL-OSI: Bitcoin Solaris Presale Surpasses 14,150 Participants Ahead of July 31 Launch

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, July 17, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S), a next-generation dual-layer blockchain project, has officially surpassed 14,150 individual investors in its ongoing token presale. With over $6.6 million raised and just two weeks remaining until the July 31 launch, the project is entering its final phase with strong momentum and increasing global participation.

    Designed to merge high security with mass-scale performance, Bitcoin Solaris introduces a hybrid consensus model combining Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS). Its two-layer structure enables both robust decentralization and ultra-fast transactions, with features that appeal to developers, miners, and everyday users alike.

    BTC-S blends security and scalability through its hybrid Proof-of-Work and Delegated Proof-of-Stake consensus. This dual-layer structure makes it ideal for high-throughput applications while maintaining decentralization and trustless security.

    • Base Layer built on SHA-256 Proof-of-Work for unmatched security
    • Solaris Layer is powered by Delegated Proof-of-Stake for 100,000 transactions per second and 2-second finality
    • Active validator rotation every 24 hours ensures stability and decentralization
    • Rust-based smart contracts enhance developer flexibility and adoption
    • Optional Zero-Knowledge Proofs support privacy-conscious users

    Through the exciting release of the upcoming Solaris Nova App, mining becomes more accessible than ever. Whether on mobile or desktop, users can participate in Bitcoin Solaris mining with ease, opening wealth opportunities to those who never thought mining was within reach.

    Mass Adoption Was a Dream Until Bitcoin Solaris Made It Real

    Crypto influencers are also noticing. Token Galaxy recently highlighted why Bitcoin Solaris is getting this level of attention, pointing to its combination of accessibility, performance, and future-ready infrastructure.

    Why This Presale Is Getting So Much Attention

    The Bitcoin Solaris presale is more than just successful. It is setting a new bar for how quickly genuine investor interest can drive adoption. With less than two weeks left before the July 31 launch, BTC-S has already raised over $6.6 million and continues to gain momentum.

    • Current price is $12
    • Next phase moves to $13
    • A 4% bonus remains active
    • Launch price is set at $20 with a potential 150 percent return

    This rapid adoption is making this one of the shortest presales in crypto history, a testament to how quickly investors are recognizing its potential.

    Wallets like Trust Wallet and Metamask are recommended for seamless token delivery on launch day. Bitcoin Solaris makes it clear these wallets are for receiving tokens, not for buying in.

    Secure your spot at Bitcoin Solaris.

    Built for Scalability, Security, and Long-Term Growth

    Bitcoin Solaris is more than presale hype. Its blockchain is designed to handle real-world needs across DeFi, gaming, IoT, and enterprise systems.

    • 3,000 transactions per second on the Base Layer
    • 100,000 transactions per second on the Solaris Layer
    • Cross-chain bridges create liquidity and interoperability
    • Independent audits by Cyberscope and Freshcoins validate security and transparency

    Performance is only part of the story. For those interested in mining, BTC-S offers a calculator to estimate earnings based on device capabilities and network demand.

    Rewards That Align with Long-Term Adoption

    Bitcoin Solaris has crafted its reward system to foster sustainable participation through a transparent and fair distribution model.

    • 40 percent to miners maintaining the Base Layer
    • 25 percent to validators on the Solaris Layer
    • 20 percent to stakers supporting the ecosystem
    • 10 percent dedicated to ongoing development
    • 5 percent for community initiatives and engagement

    Rewards adjust dynamically through metrics like contribution score, device type, and participation time. Transparency is maintained through dashboards and open reporting.

    Final Verdict: This Is Not Just Another Presale

    Bitcoin Solaris is delivering on its promise to create a blockchain that serves both early adopters and the future of decentralized applications. With mobile-first mining, unmatched scalability, and an exploding presale, BTC-S is one of the most exciting projects in crypto right now. For those who missed Bitcoin’s earliest days, this is the second chance they have been waiting for.

    For more information on Bitcoin Solaris:
    Website: https://www.bitcoinsolaris.com/
     Telegram: https://t.me/Bitcoinsolaris
     X: https://x.com/BitcoinSolaris

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

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

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

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a8bbb05d-9239-4a62-93b8-956a92dcbd05

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c61afcc8-5b0b-4ada-ab48-bc126a35db2b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/0ac2a691-79ba-4a95-9fdb-00f69e2818be

    https://www.globenewswire.com/NewsRoom/AttachmentNg/81671e18-dd04-4887-9e37-6bce3c694c61

    The MIL Network –

  • MIL-OSI: XRP players must read: 2025 latest Cloud Mining plan, $6000 daily withdrawal manual

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 17, 2025 (GLOBE NEWSWIRE) — As the world’s understanding of blockchain technology continues to deepen, the XRP ecosystem is recovering strongly. On-chain data shows that in the past 5 days, the number of active addresses in the XRP ledger has exceeded 100,000, and the average daily number of transactions has exceeded 3 million, setting a new high since 2024. At the same time, Ripple continues to promote cross-border payment cooperation in the Middle East, Southeast Asia and other places, and promotes XRP to become an important settlement medium for the circulation of real-world assets (RWA). As the price of XRP continues to fluctuate upward, more and more holders are looking for a way to obtain sustainable passive income without relying on secondary market fluctuations-cloud mining has entered the public eye. Among all cloud mining platforms that support XRP payments, ETHRANSACTION stands out with its stable income, green energy drive, compliance qualifications and flexible contract structure, and has become the first choice trusted by many investors.

    XRP chain rebounds, holders turn from “waiting for prices to rise” to “value appreciation”

    For a long time, XRP users have mainly made profits by hoarding coins and waiting for prices to rise. However, in the current market environment with high-frequency fluctuations and frequent policy intervention, this approach is becoming increasingly risky. In contrast, using XRP to purchase mining contracts through cloud mining can not only avoid the depreciation of currency-based assets, but also obtain additional income every day, which is a more stable strategy.

    ETHRANSACTION opened the XRP recharge channel as early as 2021, and continued to optimize the computing power support capabilities for the XRP chain. At present, users only need to transfer XRP to the platform and select the corresponding contract to immediately start cloud mining services for mainstream currencies such as DOGE and BTC. There is no threshold throughout the process, no equipment and maintenance required, and it is suitable for every digital asset holder.

    Popular contract list

    ⦁ Invest in WhatsMiner M30S [Daily Sign-in Rewards]: Investment amount: US$19, total net profit: US$19 + US$0.9.

    ⦁ Invest in Avalon Manufacturing A1346 [Experience Contract]: Investment amount: US$100, total net profit: US$100 + US$18.

    ⦁ Invest in ElphaPex DG Home1 contract plan: investment amount: $600, total net profit: $600 + $52.5.

    ⦁ Invest in Antminer L7 contract plan: investment amount: $1,300, total net profit: $1,300 + $236.6.

    ⦁ Invest in Antminer T21 contract plan: investment amount: $3,700, total net profit: $3,700 + $1,021.2.

    (The platform has launched a variety of stable income contracts, which can be viewed on the ETHRANSACTION official website.)

    All contracts take effect immediately, automatically settle profits daily, and support withdrawals at any time.

    Why are more and more XRP users choosing ETHRANSACTION?

    New users can get a $19 reward upon registration and experience cloud mining at zero cost;

    No mining machine is required, no maintenance is required, one-click contract start, and daily settlement of income;

    AI intelligent scheduling + green energy, computing power online rate 99.9%, zero carbon footprint of electricity consumption;

    McAfee® + Cloudflare® double security protection, platform assets are insured by AIG;

    0 management fee + 0 hidden fee, the income chain is traceable, transparent and clear;

    Support multi-currency withdrawal, including BTC, USDT, DOGE, ETH, XRP, etc., withdraw to wallet in seconds;

    Invitation rebate mechanism: direct invitation rebate 4%, indirect invitation rebate 2%, unlimited income.

    ETHRANSACTION currently serves more than 8 million users worldwide, and the platform covers more than 100 countries and regions. It is one of the most active and fastest growing brands in the current cloud computing track.

    Conclusion: From holding to appreciation, XRP’s potential is not just growth

    As a key hub connecting real-world payments and on-chain value, the future value of XRP is not only reflected in price, but also in scene landing and on-chain activity. ETHRANSACTION is providing the underlying computing power support and financial tools for this value reconstruction, allowing every XRP holder to truly participate in and benefit from the growth of the blockchain economy.

    Media Details:

    Visit the official website https://ethransaction.vip now, or send an email to info@ethransaction.vip to start your XRP cloud mining journey and let your assets appreciate every day.

    Attachment

    The MIL Network –

  • MIL-OSI: XRP players must read: 2025 latest Cloud Mining plan, $6000 daily withdrawal manual

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 17, 2025 (GLOBE NEWSWIRE) — As the world’s understanding of blockchain technology continues to deepen, the XRP ecosystem is recovering strongly. On-chain data shows that in the past 5 days, the number of active addresses in the XRP ledger has exceeded 100,000, and the average daily number of transactions has exceeded 3 million, setting a new high since 2024. At the same time, Ripple continues to promote cross-border payment cooperation in the Middle East, Southeast Asia and other places, and promotes XRP to become an important settlement medium for the circulation of real-world assets (RWA). As the price of XRP continues to fluctuate upward, more and more holders are looking for a way to obtain sustainable passive income without relying on secondary market fluctuations-cloud mining has entered the public eye. Among all cloud mining platforms that support XRP payments, ETHRANSACTION stands out with its stable income, green energy drive, compliance qualifications and flexible contract structure, and has become the first choice trusted by many investors.

    XRP chain rebounds, holders turn from “waiting for prices to rise” to “value appreciation”

    For a long time, XRP users have mainly made profits by hoarding coins and waiting for prices to rise. However, in the current market environment with high-frequency fluctuations and frequent policy intervention, this approach is becoming increasingly risky. In contrast, using XRP to purchase mining contracts through cloud mining can not only avoid the depreciation of currency-based assets, but also obtain additional income every day, which is a more stable strategy.

    ETHRANSACTION opened the XRP recharge channel as early as 2021, and continued to optimize the computing power support capabilities for the XRP chain. At present, users only need to transfer XRP to the platform and select the corresponding contract to immediately start cloud mining services for mainstream currencies such as DOGE and BTC. There is no threshold throughout the process, no equipment and maintenance required, and it is suitable for every digital asset holder.

    Popular contract list

    ⦁ Invest in WhatsMiner M30S [Daily Sign-in Rewards]: Investment amount: US$19, total net profit: US$19 + US$0.9.

    ⦁ Invest in Avalon Manufacturing A1346 [Experience Contract]: Investment amount: US$100, total net profit: US$100 + US$18.

    ⦁ Invest in ElphaPex DG Home1 contract plan: investment amount: $600, total net profit: $600 + $52.5.

    ⦁ Invest in Antminer L7 contract plan: investment amount: $1,300, total net profit: $1,300 + $236.6.

    ⦁ Invest in Antminer T21 contract plan: investment amount: $3,700, total net profit: $3,700 + $1,021.2.

    (The platform has launched a variety of stable income contracts, which can be viewed on the ETHRANSACTION official website.)

    All contracts take effect immediately, automatically settle profits daily, and support withdrawals at any time.

    Why are more and more XRP users choosing ETHRANSACTION?

    New users can get a $19 reward upon registration and experience cloud mining at zero cost;

    No mining machine is required, no maintenance is required, one-click contract start, and daily settlement of income;

    AI intelligent scheduling + green energy, computing power online rate 99.9%, zero carbon footprint of electricity consumption;

    McAfee® + Cloudflare® double security protection, platform assets are insured by AIG;

    0 management fee + 0 hidden fee, the income chain is traceable, transparent and clear;

    Support multi-currency withdrawal, including BTC, USDT, DOGE, ETH, XRP, etc., withdraw to wallet in seconds;

    Invitation rebate mechanism: direct invitation rebate 4%, indirect invitation rebate 2%, unlimited income.

    ETHRANSACTION currently serves more than 8 million users worldwide, and the platform covers more than 100 countries and regions. It is one of the most active and fastest growing brands in the current cloud computing track.

    Conclusion: From holding to appreciation, XRP’s potential is not just growth

    As a key hub connecting real-world payments and on-chain value, the future value of XRP is not only reflected in price, but also in scene landing and on-chain activity. ETHRANSACTION is providing the underlying computing power support and financial tools for this value reconstruction, allowing every XRP holder to truly participate in and benefit from the growth of the blockchain economy.

    Media Details:

    Visit the official website https://ethransaction.vip now, or send an email to info@ethransaction.vip to start your XRP cloud mining journey and let your assets appreciate every day.

    Attachment

    The MIL Network –

  • MIL-Evening Report: Susi Newborn among activists featured in Pacific ‘nuclear free heroes’ video

    Pacific Media Watch

    Greenpeace pioneer and activist Susi Newborn is among the “nuclear free heroes” featured in a video tribute premiered this week in an exhibition dedicated to a nuclear-free Pacific.

    The week-long exhibition at Tāmaki Makaurau Auckland’s Ellen Melville Centre, titled “Legends of the Pacific: Stories of a Nuclear-Free Moana 1975-1995,” closes tomorrow afternoon.

    A segment dedicated to the Nuclear-Free and Independent Pacific (NFIP) movement features Newborn making a passionate speech about the legend of the “Warriors of the Rainbow” on the steps of the Auckland Museum in July 2023 just weeks before she died.

    Newborn was an Aotearoa New Zealand author, documentary film-maker, environmental activist and a founding director of Greenpeace UK and co-founder of Greenpeace International.

    She was an executive director of the New Zealand non-for-profit group Women in Film and Television.

    Newborn was also one of the original crew members on the first Rainbow Warrior which was bombed in Auckland Harbour on 10 July 2025.

    The ship’s successor, Rainbow Warrior III, a state-of-the-art environmental campaign ship, has been docked at Halsey Wharf this month for a memorial ceremony to honour the 40th anniversary of the loss of photographer Fernando Pereira and the ship, sabotaged by French secret agents.

    Effective activists
    In a tribute after her death, Greenpeace stalwart Rex Weyler wrote: “Susi Newborn [was] one of the most skilled and effective activists in Greenpeace’s 52-year history.”

    “In 1977, when Susi arrived in Canada for her first Greenpeace action to protect infant harp seal pups in Newfoundland, she was already something of a legend,” Weyler wrote.

    “Journalistic tradition would have me refer to her as ‘Newborn’, a name that rang with significance, but I can only think of her as Susi, the tough, smart activist from London.”

    The half hour video collage, produced and directed by the Whānau Community Centre’s Nik Naidu, is titled Legends of a Nuclear-Free & Independent Pacific (NFIP).


    Legends of a Nuclear-Free and Independent Pacific.     Video: Talanoa TV

    Among other activists featured in the video are NFIP academic Dr Marco de Jong; Presbyterian minister Reverend Mua Strickson-Pua; Professor Vijay Naidu, founding president of the Fiji Anti-Nuclear Group (FANG); Polynesian Panthers founder Will ‘Ilolahia; NFIP advocate Hilda Halkyard-Harawira (Ngāti Hauā, Te Rarawe); community educator and activist Del Abcede; retired media professor, journalist and advocate Dr David Robie; Anglican priest who founded the Peace Squadron, Reverend George Armstrong; and United Liberation Movement for West Papua vice-president Octo Mote, interviewed at the home of peace author and advocate Maire Leadbeater.

    The video sound track is from Herbs’ famous French Letter about nuclear testing in the Pacific.

    “It is so important to record our stories and history — especially for our children and future generations,” said video creator Nik Naidu.

    Nuclear Free and Independent Pacific . . . an early poster.

    “They need to hear the truth from our “legends” and “leaders”. Those who stood for justice and peace.

    “The freedoms and benefits we all enjoy today are a direct result of the sacrifice and activism of these legends.”

    The video has been one of the highlights of the “Legends” exhibition, created by Heather Devere, Del Abcede and David Robie of the Asia Pacific Media Network; Nik Naidu of the APMN as well as co-founder of the Whānau Community Hub; Antony Phillips and Tharron Bloomfield of the Heritage New Zealand Pouhere Taonga; and Rachel Mario of the Auckland Rotuman Fellowship Group and Whānau Hub.

    Support has also come from the Ellen Melville Centre (venue and promotion), Padet (for the video series), Pax Christi, Women’s International League for Peace Freedom (WILPF) Aotearoa, and the Quaker Peace Fund.

    The exhibition was opened by Labour MP for Te Atatu and disarmament spokesperson Phil Twyford last Saturday.

    The video collage and the individual video items can be seen on the Talanoa TV channel: https://www.youtube.com/@talanoatv

    Professor Vijay Naidu of the University of the South Pacific . . . founding president of the Fiji Anti-Nuclear Group (FANG), one of the core groups in the Nuclear Free and Independent Pacific (NFIP) movement. Image: APR

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Susi Newborn among activists featured in Pacific ‘nuclear free heroes’ video

    Pacific Media Watch

    Greenpeace pioneer and activist Susi Newborn is among the “nuclear free heroes” featured in a video tribute premiered this week in an exhibition dedicated to a nuclear-free Pacific.

    The week-long exhibition at Tāmaki Makaurau Auckland’s Ellen Melville Centre, titled “Legends of the Pacific: Stories of a Nuclear-Free Moana 1975-1995,” closes tomorrow afternoon.

    A segment dedicated to the Nuclear-Free and Independent Pacific (NFIP) movement features Newborn making a passionate speech about the legend of the “Warriors of the Rainbow” on the steps of the Auckland Museum in July 2023 just weeks before she died.

    Newborn was an Aotearoa New Zealand author, documentary film-maker, environmental activist and a founding director of Greenpeace UK and co-founder of Greenpeace International.

    She was an executive director of the New Zealand non-for-profit group Women in Film and Television.

    Newborn was also one of the original crew members on the first Rainbow Warrior which was bombed in Auckland Harbour on 10 July 2025.

    The ship’s successor, Rainbow Warrior III, a state-of-the-art environmental campaign ship, has been docked at Halsey Wharf this month for a memorial ceremony to honour the 40th anniversary of the loss of photographer Fernando Pereira and the ship, sabotaged by French secret agents.

    Effective activists
    In a tribute after her death, Greenpeace stalwart Rex Weyler wrote: “Susi Newborn [was] one of the most skilled and effective activists in Greenpeace’s 52-year history.”

    “In 1977, when Susi arrived in Canada for her first Greenpeace action to protect infant harp seal pups in Newfoundland, she was already something of a legend,” Weyler wrote.

    “Journalistic tradition would have me refer to her as ‘Newborn’, a name that rang with significance, but I can only think of her as Susi, the tough, smart activist from London.”

    The half hour video collage, produced and directed by the Whānau Community Centre’s Nik Naidu, is titled Legends of a Nuclear-Free & Independent Pacific (NFIP).


    Legends of a Nuclear-Free and Independent Pacific.     Video: Talanoa TV

    Among other activists featured in the video are NFIP academic Dr Marco de Jong; Presbyterian minister Reverend Mua Strickson-Pua; Professor Vijay Naidu, founding president of the Fiji Anti-Nuclear Group (FANG); Polynesian Panthers founder Will ‘Ilolahia; NFIP advocate Hilda Halkyard-Harawira (Ngāti Hauā, Te Rarawe); community educator and activist Del Abcede; retired media professor, journalist and advocate Dr David Robie; Anglican priest who founded the Peace Squadron, Reverend George Armstrong; and United Liberation Movement for West Papua vice-president Octo Mote, interviewed at the home of peace author and advocate Maire Leadbeater.

    The video sound track is from Herbs’ famous French Letter about nuclear testing in the Pacific.

    “It is so important to record our stories and history — especially for our children and future generations,” said video creator Nik Naidu.

    Nuclear Free and Independent Pacific . . . an early poster.

    “They need to hear the truth from our “legends” and “leaders”. Those who stood for justice and peace.

    “The freedoms and benefits we all enjoy today are a direct result of the sacrifice and activism of these legends.”

    The video has been one of the highlights of the “Legends” exhibition, created by Heather Devere, Del Abcede and David Robie of the Asia Pacific Media Network; Nik Naidu of the APMN as well as co-founder of the Whānau Community Hub; Antony Phillips and Tharron Bloomfield of the Heritage New Zealand Pouhere Taonga; and Rachel Mario of the Auckland Rotuman Fellowship Group and Whānau Hub.

    Support has also come from the Ellen Melville Centre (venue and promotion), Padet (for the video series), Pax Christi, Women’s International League for Peace Freedom (WILPF) Aotearoa, and the Quaker Peace Fund.

    The exhibition was opened by Labour MP for Te Atatu and disarmament spokesperson Phil Twyford last Saturday.

    The video collage and the individual video items can be seen on the Talanoa TV channel: https://www.youtube.com/@talanoatv

    Professor Vijay Naidu of the University of the South Pacific . . . founding president of the Fiji Anti-Nuclear Group (FANG), one of the core groups in the Nuclear Free and Independent Pacific (NFIP) movement. Image: APR

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Susi Newborn among activists featured in Pacific ‘nuclear free heroes’ video

    Pacific Media Watch

    Greenpeace pioneer and activist Susi Newborn is among the “nuclear free heroes” featured in a video tribute premiered this week in an exhibition dedicated to a nuclear-free Pacific.

    The week-long exhibition at Tāmaki Makaurau Auckland’s Ellen Melville Centre, titled “Legends of the Pacific: Stories of a Nuclear-Free Moana 1975-1995,” closes tomorrow afternoon.

    A segment dedicated to the Nuclear-Free and Independent Pacific (NFIP) movement features Newborn making a passionate speech about the legend of the “Warriors of the Rainbow” on the steps of the Auckland Museum in July 2023 just weeks before she died.

    Newborn was an Aotearoa New Zealand author, documentary film-maker, environmental activist and a founding director of Greenpeace UK and co-founder of Greenpeace International.

    She was an executive director of the New Zealand non-for-profit group Women in Film and Television.

    Newborn was also one of the original crew members on the first Rainbow Warrior which was bombed in Auckland Harbour on 10 July 2025.

    The ship’s successor, Rainbow Warrior III, a state-of-the-art environmental campaign ship, has been docked at Halsey Wharf this month for a memorial ceremony to honour the 40th anniversary of the loss of photographer Fernando Pereira and the ship, sabotaged by French secret agents.

    Effective activists
    In a tribute after her death, Greenpeace stalwart Rex Weyler wrote: “Susi Newborn [was] one of the most skilled and effective activists in Greenpeace’s 52-year history.”

    “In 1977, when Susi arrived in Canada for her first Greenpeace action to protect infant harp seal pups in Newfoundland, she was already something of a legend,” Weyler wrote.

    “Journalistic tradition would have me refer to her as ‘Newborn’, a name that rang with significance, but I can only think of her as Susi, the tough, smart activist from London.”

    The half hour video collage, produced and directed by the Whānau Community Centre’s Nik Naidu, is titled Legends of a Nuclear-Free & Independent Pacific (NFIP).


    Legends of a Nuclear-Free and Independent Pacific.     Video: Talanoa TV

    Among other activists featured in the video are NFIP academic Dr Marco de Jong; Presbyterian minister Reverend Mua Strickson-Pua; Professor Vijay Naidu, founding president of the Fiji Anti-Nuclear Group (FANG); Polynesian Panthers founder Will ‘Ilolahia; NFIP advocate Hilda Halkyard-Harawira (Ngāti Hauā, Te Rarawe); community educator and activist Del Abcede; retired media professor, journalist and advocate Dr David Robie; Anglican priest who founded the Peace Squadron, Reverend George Armstrong; and United Liberation Movement for West Papua vice-president Octo Mote, interviewed at the home of peace author and advocate Maire Leadbeater.

    The video sound track is from Herbs’ famous French Letter about nuclear testing in the Pacific.

    “It is so important to record our stories and history — especially for our children and future generations,” said video creator Nik Naidu.

    Nuclear Free and Independent Pacific . . . an early poster.

    “They need to hear the truth from our “legends” and “leaders”. Those who stood for justice and peace.

    “The freedoms and benefits we all enjoy today are a direct result of the sacrifice and activism of these legends.”

    The video has been one of the highlights of the “Legends” exhibition, created by Heather Devere, Del Abcede and David Robie of the Asia Pacific Media Network; Nik Naidu of the APMN as well as co-founder of the Whānau Community Hub; Antony Phillips and Tharron Bloomfield of the Heritage New Zealand Pouhere Taonga; and Rachel Mario of the Auckland Rotuman Fellowship Group and Whānau Hub.

    Support has also come from the Ellen Melville Centre (venue and promotion), Padet (for the video series), Pax Christi, Women’s International League for Peace Freedom (WILPF) Aotearoa, and the Quaker Peace Fund.

    The exhibition was opened by Labour MP for Te Atatu and disarmament spokesperson Phil Twyford last Saturday.

    The video collage and the individual video items can be seen on the Talanoa TV channel: https://www.youtube.com/@talanoatv

    Professor Vijay Naidu of the University of the South Pacific . . . founding president of the Fiji Anti-Nuclear Group (FANG), one of the core groups in the Nuclear Free and Independent Pacific (NFIP) movement. Image: APR

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Susi Newborn among activists featured in Pacific ‘nuclear free heroes’ video

    Pacific Media Watch

    Greenpeace pioneer and activist Susi Newborn is among the “nuclear free heroes” featured in a video tribute premiered this week in an exhibition dedicated to a nuclear-free Pacific.

    The week-long exhibition at Tāmaki Makaurau Auckland’s Ellen Melville Centre, titled “Legends of the Pacific: Stories of a Nuclear-Free Moana 1975-1995,” closes tomorrow afternoon.

    A segment dedicated to the Nuclear-Free and Independent Pacific (NFIP) movement features Newborn making a passionate speech about the legend of the “Warriors of the Rainbow” on the steps of the Auckland Museum in July 2023 just weeks before she died.

    Newborn was an Aotearoa New Zealand author, documentary film-maker, environmental activist and a founding director of Greenpeace UK and co-founder of Greenpeace International.

    She was an executive director of the New Zealand non-for-profit group Women in Film and Television.

    Newborn was also one of the original crew members on the first Rainbow Warrior which was bombed in Auckland Harbour on 10 July 2025.

    The ship’s successor, Rainbow Warrior III, a state-of-the-art environmental campaign ship, has been docked at Halsey Wharf this month for a memorial ceremony to honour the 40th anniversary of the loss of photographer Fernando Pereira and the ship, sabotaged by French secret agents.

    Effective activists
    In a tribute after her death, Greenpeace stalwart Rex Weyler wrote: “Susi Newborn [was] one of the most skilled and effective activists in Greenpeace’s 52-year history.”

    “In 1977, when Susi arrived in Canada for her first Greenpeace action to protect infant harp seal pups in Newfoundland, she was already something of a legend,” Weyler wrote.

    “Journalistic tradition would have me refer to her as ‘Newborn’, a name that rang with significance, but I can only think of her as Susi, the tough, smart activist from London.”

    The half hour video collage, produced and directed by the Whānau Community Centre’s Nik Naidu, is titled Legends of a Nuclear-Free & Independent Pacific (NFIP).


    Legends of a Nuclear-Free and Independent Pacific.     Video: Talanoa TV

    Among other activists featured in the video are NFIP academic Dr Marco de Jong; Presbyterian minister Reverend Mua Strickson-Pua; Professor Vijay Naidu, founding president of the Fiji Anti-Nuclear Group (FANG); Polynesian Panthers founder Will ‘Ilolahia; NFIP advocate Hilda Halkyard-Harawira (Ngāti Hauā, Te Rarawe); community educator and activist Del Abcede; retired media professor, journalist and advocate Dr David Robie; Anglican priest who founded the Peace Squadron, Reverend George Armstrong; and United Liberation Movement for West Papua vice-president Octo Mote, interviewed at the home of peace author and advocate Maire Leadbeater.

    The video sound track is from Herbs’ famous French Letter about nuclear testing in the Pacific.

    “It is so important to record our stories and history — especially for our children and future generations,” said video creator Nik Naidu.

    Nuclear Free and Independent Pacific . . . an early poster.

    “They need to hear the truth from our “legends” and “leaders”. Those who stood for justice and peace.

    “The freedoms and benefits we all enjoy today are a direct result of the sacrifice and activism of these legends.”

    The video has been one of the highlights of the “Legends” exhibition, created by Heather Devere, Del Abcede and David Robie of the Asia Pacific Media Network; Nik Naidu of the APMN as well as co-founder of the Whānau Community Hub; Antony Phillips and Tharron Bloomfield of the Heritage New Zealand Pouhere Taonga; and Rachel Mario of the Auckland Rotuman Fellowship Group and Whānau Hub.

    Support has also come from the Ellen Melville Centre (venue and promotion), Padet (for the video series), Pax Christi, Women’s International League for Peace Freedom (WILPF) Aotearoa, and the Quaker Peace Fund.

    The exhibition was opened by Labour MP for Te Atatu and disarmament spokesperson Phil Twyford last Saturday.

    The video collage and the individual video items can be seen on the Talanoa TV channel: https://www.youtube.com/@talanoatv

    Professor Vijay Naidu of the University of the South Pacific . . . founding president of the Fiji Anti-Nuclear Group (FANG), one of the core groups in the Nuclear Free and Independent Pacific (NFIP) movement. Image: APR

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Wedbush Securities Welcomes Daniel Shea as Managing Director of Consumer & Diversified Industries Investment Banking

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 17, 2025 (GLOBE NEWSWIRE) — Wedbush Securities, a prominent financial services firm, has hired Daniel Shea as Managing Director in its Consumer & Diversified Industries Investment Banking group. In this role, Shea will play a key part in expanding and strengthening Wedbush’s Consumer & Diversified Companies investment banking coverage, drawing on his deep industry expertise and track record in consumer-related companies.

    Shea joins from BTIG, LLC, where he served as Managing Director and led the buildout of the firm’s consumer-focused investment banking group. With nearly 20 years of experience, Shea brings deep expertise in specialty retail, e-commerce, branded consumer products and restaurants. Earlier in his career, he held senior banking positions at firms including Keen-Summit Capital Partners, Canaccord Genuity, Sterne Agee-CRT and Janney Montgomery Scott.

    Shea’s notable deals include the spin-out of Twin Peaks from Fat Brands, the de-SPAC and IPO of Pinstripes, and a private convertible financing for FreshRealm. He also advised on the sale-leaseback and subsequent capital raise for Chicken N Pickle, BurgerFi’s acquisition of Anthony’s Coal Fired Pizza, Drive Shack’s follow-on equity offering, and the sale of Hampton Forge to Lennox Corporation.

    “I’m excited to join a team that appreciates the consumer sector and focuses on supporting entrepreneurs through pivotal moments of growth,” Shea said. “Wedbush’s collaborative and creative solution-driven culture aligns closely with how I’ve built my relationships over the years, and I look forward to replicating my past success for the Wedbush platform.”

    “I’ve known Dan for a decade and have always appreciated his conscientious service to clients—something I know he’ll bring with him to Wedbush,” shared Burke Dempsey, EVP and Head of Investment Banking & Capital Markets. “His history of advising on complex transactions across the consumer landscape makes him a strong strategic partner for our firm’s expansion and enhances our ability to deliver sector-specific insights and senior-level executions to our clients.”

    Shea’s appointment adds to Wedbush’s domain expertise across key growth sectors, strengthening the firm’s ability to deliver strategic insight and advisory excellence to clients.

    About Wedbush Securities
    Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush is widely known for providing our clients, both private and institutional, with a wide range of securities brokerage, clearing, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology. Securities and Investment Advisory services are offered through Wedbush Securities Inc. Member NYSE/ FINRA / SIPC 

    Media Inquiries:
    Serina Molano
    publicrelations@wedbush.com
    213-688-4564

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b996a4f4-d7f2-405f-ac4c-06647429f422

    The MIL Network –

  • MIL-OSI: Wedbush Securities Welcomes Daniel Shea as Managing Director of Consumer & Diversified Industries Investment Banking

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 17, 2025 (GLOBE NEWSWIRE) — Wedbush Securities, a prominent financial services firm, has hired Daniel Shea as Managing Director in its Consumer & Diversified Industries Investment Banking group. In this role, Shea will play a key part in expanding and strengthening Wedbush’s Consumer & Diversified Companies investment banking coverage, drawing on his deep industry expertise and track record in consumer-related companies.

    Shea joins from BTIG, LLC, where he served as Managing Director and led the buildout of the firm’s consumer-focused investment banking group. With nearly 20 years of experience, Shea brings deep expertise in specialty retail, e-commerce, branded consumer products and restaurants. Earlier in his career, he held senior banking positions at firms including Keen-Summit Capital Partners, Canaccord Genuity, Sterne Agee-CRT and Janney Montgomery Scott.

    Shea’s notable deals include the spin-out of Twin Peaks from Fat Brands, the de-SPAC and IPO of Pinstripes, and a private convertible financing for FreshRealm. He also advised on the sale-leaseback and subsequent capital raise for Chicken N Pickle, BurgerFi’s acquisition of Anthony’s Coal Fired Pizza, Drive Shack’s follow-on equity offering, and the sale of Hampton Forge to Lennox Corporation.

    “I’m excited to join a team that appreciates the consumer sector and focuses on supporting entrepreneurs through pivotal moments of growth,” Shea said. “Wedbush’s collaborative and creative solution-driven culture aligns closely with how I’ve built my relationships over the years, and I look forward to replicating my past success for the Wedbush platform.”

    “I’ve known Dan for a decade and have always appreciated his conscientious service to clients—something I know he’ll bring with him to Wedbush,” shared Burke Dempsey, EVP and Head of Investment Banking & Capital Markets. “His history of advising on complex transactions across the consumer landscape makes him a strong strategic partner for our firm’s expansion and enhances our ability to deliver sector-specific insights and senior-level executions to our clients.”

    Shea’s appointment adds to Wedbush’s domain expertise across key growth sectors, strengthening the firm’s ability to deliver strategic insight and advisory excellence to clients.

    About Wedbush Securities
    Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush is widely known for providing our clients, both private and institutional, with a wide range of securities brokerage, clearing, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology. Securities and Investment Advisory services are offered through Wedbush Securities Inc. Member NYSE/ FINRA / SIPC 

    Media Inquiries:
    Serina Molano
    publicrelations@wedbush.com
    213-688-4564

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b996a4f4-d7f2-405f-ac4c-06647429f422

    The MIL Network –

  • MIL-OSI: Wedbush Securities Welcomes Daniel Shea as Managing Director of Consumer & Diversified Industries Investment Banking

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 17, 2025 (GLOBE NEWSWIRE) — Wedbush Securities, a prominent financial services firm, has hired Daniel Shea as Managing Director in its Consumer & Diversified Industries Investment Banking group. In this role, Shea will play a key part in expanding and strengthening Wedbush’s Consumer & Diversified Companies investment banking coverage, drawing on his deep industry expertise and track record in consumer-related companies.

    Shea joins from BTIG, LLC, where he served as Managing Director and led the buildout of the firm’s consumer-focused investment banking group. With nearly 20 years of experience, Shea brings deep expertise in specialty retail, e-commerce, branded consumer products and restaurants. Earlier in his career, he held senior banking positions at firms including Keen-Summit Capital Partners, Canaccord Genuity, Sterne Agee-CRT and Janney Montgomery Scott.

    Shea’s notable deals include the spin-out of Twin Peaks from Fat Brands, the de-SPAC and IPO of Pinstripes, and a private convertible financing for FreshRealm. He also advised on the sale-leaseback and subsequent capital raise for Chicken N Pickle, BurgerFi’s acquisition of Anthony’s Coal Fired Pizza, Drive Shack’s follow-on equity offering, and the sale of Hampton Forge to Lennox Corporation.

    “I’m excited to join a team that appreciates the consumer sector and focuses on supporting entrepreneurs through pivotal moments of growth,” Shea said. “Wedbush’s collaborative and creative solution-driven culture aligns closely with how I’ve built my relationships over the years, and I look forward to replicating my past success for the Wedbush platform.”

    “I’ve known Dan for a decade and have always appreciated his conscientious service to clients—something I know he’ll bring with him to Wedbush,” shared Burke Dempsey, EVP and Head of Investment Banking & Capital Markets. “His history of advising on complex transactions across the consumer landscape makes him a strong strategic partner for our firm’s expansion and enhances our ability to deliver sector-specific insights and senior-level executions to our clients.”

    Shea’s appointment adds to Wedbush’s domain expertise across key growth sectors, strengthening the firm’s ability to deliver strategic insight and advisory excellence to clients.

    About Wedbush Securities
    Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush is widely known for providing our clients, both private and institutional, with a wide range of securities brokerage, clearing, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology. Securities and Investment Advisory services are offered through Wedbush Securities Inc. Member NYSE/ FINRA / SIPC 

    Media Inquiries:
    Serina Molano
    publicrelations@wedbush.com
    213-688-4564

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b996a4f4-d7f2-405f-ac4c-06647429f422

    The MIL Network –

  • MIL-OSI: Upexi Announces Closing of Approximately $150 Million Private Placement of Convertible Notes as Part of Previously Announced $200 Million Concurrent Offering

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., July 17, 2025 (GLOBE NEWSWIRE) — Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a brand owner specializing in the development, manufacturing and distribution of consumer products with diversification into the cryptocurrency space, today announced the closing of a private placement convertible note offering, with such convertible notes issued in exchange for locked and spot Solana (“SOL”), with an aggregate original principal amount of approximate $150 million (the “Note Offering”) with certain institutional investors and qualified purchasers.

    The closing of the Note Offering alongside the previously disclosed $50 million private placement of common stock (the “Equity Offering”) resulted in approximately $200 Million of gross proceeds to the Company before deducting placement agent fees and other offering expenses.  

    The Convertible Notes are collateralized by SOL provided by the respective holders. The Convertible Notes have an interest rate of 2.0% payable on a quarterly basis, a fixed conversion price of $4.25 per share and maturity of 24 months.

    Big Brain Holdings acted as the lead investor in the Note Offering alongside additional institutional investors.

    The SOL underlying the Note Offering became part of the Company’s Solana treasury upon closing. The Company has approximately 1.65 million SOL following the close of the Note Offering, more than doubling the previously disclosed balance of 735,692 SOL.

    A.G.P./Alliance Global Partners acted as the sole placement agent in connection with the offering.

    The offer and sale of the foregoing securities was made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

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

    About Upexi, Inc.
    Upexi is a brand owner specializing in the development, manufacturing, and distribution of consumer products. The Company has entered the cryptocurrency industry and cash management of assets through a cryptocurrency portfolio. For more information on Upexi’s treasury strategy and future developments, visit www.upexi.com.

    Follow Upexi on X – https://twitter.com/upexitreasury
    Follow CEO, Allan Marshall, on X – https://x.com/marshall_a22015
    Follow CSO, Brian Rudick, on X – https://x.com/thetinyant

    Company Contact
    Brian Rudick, Chief Strategy Officer
    Email:brian.rudick@upexi.com
    Phone: (216) 347-0473

    Media Contact
    Gasthalter & Co.
    Upexi@gasthalter.com

    Investor Relations Contact
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    Email: Upexi@KCSA.com
    Phone: (212) 896-1254

    The MIL Network –

  • MIL-OSI: Upexi Announces Closing of Approximately $150 Million Private Placement of Convertible Notes as Part of Previously Announced $200 Million Concurrent Offering

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., July 17, 2025 (GLOBE NEWSWIRE) — Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a brand owner specializing in the development, manufacturing and distribution of consumer products with diversification into the cryptocurrency space, today announced the closing of a private placement convertible note offering, with such convertible notes issued in exchange for locked and spot Solana (“SOL”), with an aggregate original principal amount of approximate $150 million (the “Note Offering”) with certain institutional investors and qualified purchasers.

    The closing of the Note Offering alongside the previously disclosed $50 million private placement of common stock (the “Equity Offering”) resulted in approximately $200 Million of gross proceeds to the Company before deducting placement agent fees and other offering expenses.  

    The Convertible Notes are collateralized by SOL provided by the respective holders. The Convertible Notes have an interest rate of 2.0% payable on a quarterly basis, a fixed conversion price of $4.25 per share and maturity of 24 months.

    Big Brain Holdings acted as the lead investor in the Note Offering alongside additional institutional investors.

    The SOL underlying the Note Offering became part of the Company’s Solana treasury upon closing. The Company has approximately 1.65 million SOL following the close of the Note Offering, more than doubling the previously disclosed balance of 735,692 SOL.

    A.G.P./Alliance Global Partners acted as the sole placement agent in connection with the offering.

    The offer and sale of the foregoing securities was made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

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

    About Upexi, Inc.
    Upexi is a brand owner specializing in the development, manufacturing, and distribution of consumer products. The Company has entered the cryptocurrency industry and cash management of assets through a cryptocurrency portfolio. For more information on Upexi’s treasury strategy and future developments, visit www.upexi.com.

    Follow Upexi on X – https://twitter.com/upexitreasury
    Follow CEO, Allan Marshall, on X – https://x.com/marshall_a22015
    Follow CSO, Brian Rudick, on X – https://x.com/thetinyant

    Company Contact
    Brian Rudick, Chief Strategy Officer
    Email:brian.rudick@upexi.com
    Phone: (216) 347-0473

    Media Contact
    Gasthalter & Co.
    Upexi@gasthalter.com

    Investor Relations Contact
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    Email: Upexi@KCSA.com
    Phone: (212) 896-1254

    The MIL Network –

  • MIL-OSI: Upexi Announces Closing of Approximately $150 Million Private Placement of Convertible Notes as Part of Previously Announced $200 Million Concurrent Offering

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., July 17, 2025 (GLOBE NEWSWIRE) — Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a brand owner specializing in the development, manufacturing and distribution of consumer products with diversification into the cryptocurrency space, today announced the closing of a private placement convertible note offering, with such convertible notes issued in exchange for locked and spot Solana (“SOL”), with an aggregate original principal amount of approximate $150 million (the “Note Offering”) with certain institutional investors and qualified purchasers.

    The closing of the Note Offering alongside the previously disclosed $50 million private placement of common stock (the “Equity Offering”) resulted in approximately $200 Million of gross proceeds to the Company before deducting placement agent fees and other offering expenses.  

    The Convertible Notes are collateralized by SOL provided by the respective holders. The Convertible Notes have an interest rate of 2.0% payable on a quarterly basis, a fixed conversion price of $4.25 per share and maturity of 24 months.

    Big Brain Holdings acted as the lead investor in the Note Offering alongside additional institutional investors.

    The SOL underlying the Note Offering became part of the Company’s Solana treasury upon closing. The Company has approximately 1.65 million SOL following the close of the Note Offering, more than doubling the previously disclosed balance of 735,692 SOL.

    A.G.P./Alliance Global Partners acted as the sole placement agent in connection with the offering.

    The offer and sale of the foregoing securities was made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

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

    About Upexi, Inc.
    Upexi is a brand owner specializing in the development, manufacturing, and distribution of consumer products. The Company has entered the cryptocurrency industry and cash management of assets through a cryptocurrency portfolio. For more information on Upexi’s treasury strategy and future developments, visit www.upexi.com.

    Follow Upexi on X – https://twitter.com/upexitreasury
    Follow CEO, Allan Marshall, on X – https://x.com/marshall_a22015
    Follow CSO, Brian Rudick, on X – https://x.com/thetinyant

    Company Contact
    Brian Rudick, Chief Strategy Officer
    Email:brian.rudick@upexi.com
    Phone: (216) 347-0473

    Media Contact
    Gasthalter & Co.
    Upexi@gasthalter.com

    Investor Relations Contact
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    Email: Upexi@KCSA.com
    Phone: (212) 896-1254

    The MIL Network –

  • MIL-OSI: PubMatic Launches AI-Powered Live Sports Marketplace with Real-Time Game Moment Curation, FanServ Joins as Premier Partner

    Source: GlobeNewswire (MIL-OSI)

    REDWOOD CITY, Calif., July 17, 2025 (GLOBE NEWSWIRE) — PubMatic (Nasdaq: PUBM), the independent technology company delivering digital advertising’s supply chain of the future, today launched an AI-powered Live Sports Marketplace that enables advertisers to target specific game moments across streaming platforms in real-time. This breakthrough proprietary technology analyzes live game data, offering granular event-level curation and real-time access to premium live sports ad inventory.

    The Live Sports Marketplace launches with FanServ as its premier partner, providing immediate access to premium NBA, WNBA, MLB, NHL and National Women’s Soccer League inventory, including exclusive local programming for the Minnesota Twins, Colorado Rockies, and Cleveland Guardians. This partnership is a pivotal step in unifying and expanding access to premium live sports inventory across the digital ecosystem.

    “FanServ was built by fans, for fans, and now, with PubMatic, we’re redefining how brands reach and engage fans through programmatic sports advertising. This partnership is about more than just access, it’s about precision and possibility,” stated Brad Friedman, CEO of FanServ. “By combining FanServ’s deep sports expertise with PubMatic’s unique event-level curation, we’re empowering brands to connect meaningfully at the exact moments that matter most, across every platform they love,” added Ben Goodfriend, VP of Demand Partnerships.

    The Live Sports Marketplace launches with substantial momentum, building on PubMatic’s sports advertising business where live sports activity has more than tripled in the first half of 2025 compared to the same period in 2024. The company exceeded its entire 2024 live sports activity in just the first six months of 2025, positioning it to more than double last year’s performance and demonstrating explosive market demand for precision-targeted live sports solutions. Beyond FanServ’s premium inventory, the marketplace provides unified access to major publishers including MLB, FuboTV, DirecTV, Spectrum Reach, and Roku, and covers comprehensive sports content from major leagues (MLB, NBA & WNBA, NHL, MLS) to alternative sports (surfing, pickleball, MMA, FIFA, NASCAR & F1, tennis, golf, cricket) and NCAA college athletics. The company has recently monetized CTV inventory for the official FIFA Club World Cup, which took place from June 19 to July 17.

    Currently, traditional programmatic sports buying often fails to distinguish between low- and high-engagement moments, leading to wasted impressions during less impactful periods, such as commercial breaks in lopsided games, while missing opportunities to reach audiences during the most valuable, high-attention moments. The marketplace addresses these and other critical pain points, including fragmented streaming and under-monetized inventory, limited targeted precision across live events, and the technical complexities of managing unpredictable viewership spikes and behaviors. The Live Sports Marketplace enables advertisers and publishers to unlock the full value of live sports audiences through:

    • Industry-First Event- and Channel-Level Precision: PubMatic’s proprietary AI enables advertisers to target specific games, teams, or even high-impact moments, across a fragmented streaming landscape, maximizing relevance and engagement for every campaign.
    • Dynamic Scheduling & Real-Time Packaging: By importing and analyzing live TV schedules from all partners, the marketplace uses up-to-the-minute sports schedules, ensuring brands can target the right moments as they happen across all publishers.
    • Expert Management of Live Spikes: PubMatic’s owned-and-operated infrastructure can expertly manage unpredictable spikes in live viewership, with the potential for separate endpoints for DSPs dedicated to live sports, ensuring seamless, reliable ad delivery at scale, even during the most high-demand moments.
    • Scalability and Automation Roadmap: The platform is designed to provide both immediate manual flexibility and future automation, supporting scalable, automated deal creation and reporting. This ensures that both buyers and sellers can benefit from streamlined workflows and real-time insights as the market evolves.

    “This revolutionary technology and premium partnership with FanServ transforms fragmented live sports inventory into programmatically accessible, of-the-moment opportunities, setting a new standard for precision and impact in digital sports advertising,” stated Nicole Scaglione, VP of CTV and Online Video at PubMatic.

    According to eMarketer, 114.1 million people are projected to watch live sports digitally in 2025, compared to 82.0 million via traditional TV. As audiences migrate to streaming and connected devices, there is a real need for real-time, precise, and scalable ad delivery during unpredictable, high-attention moments. With the Live Sports Marketplace, PubMatic delivers the precision, speed and reliability advertisers need to succeed.

    To learn more about the Live Sports Marketplace and how it can elevate your live digital advertising strategy, please visit www.pubmatic.com/live-sports

    About Fanserv:
    Fanserv pairs the power of sports with the promise of digital by unifying inventory, enabling granular targeting, and providing unparalleled analytics. As the exclusive monetization partner for premiere teams, leagues, and federations, Fanserv delivers seamless monetization solutions purpose-built for live sports.

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

    Press Contact:
    Ashley Jacobson, Director of Corporate Marketing, press@pubmatic.com
    Broadsheet Communications for PubMatic, pubmaticteam@broadsheetcomms.com

    The MIL Network –

  • MIL-OSI: Enphase Energy Begins Shipments of IQ Battery 5P with Higher Domestic Content to Meet New U.S. Federal Requirements

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced initial shipments of the IQ® Battery 5P supplied from manufacturing facilities in the United States with higher domestic content than previous models. The higher domestic content batteries comply with the new requirement in the U.S. federal budget law, signed on July 4, 2025, which retroactively enforces a 45% U.S.-sourced materials threshold for solar and battery products starting June 16, 2025.

    To remain eligible for key federal tax incentives, products must meet this threshold, which will increase to 50% in 2026 and 55% in 2027, where it will remain in effect at that level thereafter. The new IQ Battery 5P units with “DOM” SKUs (IQBATTERY-5P-1P-NA-DOM) are being built now to meet these higher standards — not just for today’s 45% requirement, but also for all expected future thresholds — thanks to the substantial use of U.S.-sourced materials. These batteries are helping support American jobs and manufacturing, and a more resilient domestic supply chain.

    “Our customers consistently want Enphase for the seamless integration between their solar and storage systems,” said Joel McClure CEO of NexGen Solar, an installer of Enphase products in California. “The IQ Battery 5P’s modular design allows us to right-size each installation, and the increased domestic content helps customers comply with evolving federal requirements.”

    “Enphase continues to lead with reliable, high-performance energy storage solutions,” said Orlando Diaz, CEO of Planet Solar, an installer of Enphase products in Puerto Rico. “With the IQ Battery 5P now meeting the new federal domestic content requirements, our customers can benefit from lower costs on our offering with a product that’s built for resilience and long-term value.”

    The IQ Battery 5P is a modular design with a 5 kWh capacity and can be paired with Enphase IQ8™ Microinverters to provide homeowners with reliable electricity to use whenever they need it. Homeowners can also use the Enphase® App to monitor performance and intelligently manage their battery systems, including the self-consumption feature to reduce the use of electricity from the grid.

    “We’re pleased to begin U.S. shipments of the IQ Battery 5P with increased domestic content,” said Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy. “The IQ Battery 5P delivers top-tier performance, and now, with domestic content that meets the latest federal requirements, our installer partners are better positioned to enjoy the value of federal tax incentives, grow their businesses, and bring energy storage to more homes across the country.”

    Watch a video about Enphase’s manufacturing process in Texas here. For more information about the IQ Battery 5P, please visit the Enphase website.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power — and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; and ability of the IQ Battery 5P to maximize the value of federal tax incentives. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

    • Net income for the second quarter of 2025 was $10.4 million, compared to $10.6 million in the prior quarter and $7.8 million in the second quarter of 2024. Net income increased 33.5% year over year
    • Net income for the second quarter of 2025 represents a return on average assets of 1.69% and a return on average tangible common equity of 17.44%
    • Diluted earnings per share for the second quarter of 2025 was $1.77, compared to $1.80 in the prior quarter and $1.35 in the second quarter of 2024
    • Core deposits were $2.07 billion as of June 30, 2025, an increase of $22.0 million or 1.1% from March 31, 2025. Core deposits increased $327.6 million or 18.8% year over year. Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million or 1.3% from March 31, 2025, which included a reduction in brokered deposits of $51.2 million. Total deposits increased 8.1% year over year
    • Total cost of deposits was 2.08% for the second quarter of 2025, a decrease from 2.22% in the prior quarter and 2.67% in the second quarter of 2024, an improvement of 6.4% quarter over quarter and 22.3% year over year. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025. Total cost of funding sources was 2.14% for the second quarter of 2025, a decrease from 2.29% in the prior quarter and 2.78% in the second quarter of 2024
    • Loans held-for-investment (“HFI”) totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% from March 31, 2025. Loans HFI increased 5.1% year over year
    • Net interest margin was 4.94% for the second quarter of 2025, compared to 4.61% in the prior quarter and 4.48% in the second quarter of 2024
    • Provision for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million for the prior quarter and $2.1 million for the second quarter of 2024. The allowance for loan losses was 1.35% of loans HFI as of June 30, 2025 compared to 1.27% at March 31, 2025
    • As of June 30, 2025, criticized loans totaled $58.2 million, or 2.79% of total loans, up from $40.8 million, or 1.96% of total loans, in the prior quarter
    • Tangible book value per share was $42.20 as of June 30, 2025, an increase of $1.91 since March 31, 2025 primarily as a result of strong earnings. Tangible book value per share increased 4.7% quarter-over-quarter and 21.8% year over year.

    LA JOLLA, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the second fiscal quarter ended June 30, 2025. The Company reported net income of $10.4 million, or $1.77 per diluted share, for the second quarter of 2025, compared to $10.6 million, or $1.80 per diluted share, in the prior quarter, and $7.8 million, or $1.35 per diluted share, in the second quarter of 2024.

    Rick Sowers, President and CEO of the Company and the Bank stated, “Earnings continue to be strong as a result of improvement in our deposit base and funding costs as well as an industry leading net interest margin.  Although 2025 has been a slower year for loan growth due to economic uncertainty and what we view as unreasonable market loan pricing, we are adding new Relationships across our footprint by delivering Distinctively Different Service and providing Clients with customized Solutions that meet their individual needs. We have onboarded 8 new Relationship focused Team Members this quarter, with more in the pipeline.  We are strong believers in the Southern California market, as demonstrated by our new Santa Barbara County office in Montecito, which we anticipate opening in the third quarter.”

    Sowers added, “The Bank’s superior financial performance and industry leading service metrics continue to be recognized by industry publications and our Clients. This recognition reinforces our strategic thinking and our dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value: 

    • Top 20 Community Banks in the US for 2025 by American Banker with assets between $2B and $10B in assets and #2 in California
    • #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets in 2024
    • #1 SBA 504 Community Bank Lender in the United States
    • #10 Best U.S. Bank by Bank Director’s RankingBanking®
    • Client Net Promoter Score of 81 (World Class)
    • Bauer 5 Star Rating
    • 2025 Best 50 OTCQX

    “Management has continued to focus on providing clients with a differentiated superior banking experience while producing industry leading shareholder value creation. Client surveys validate superior service levels while financial results remain in the top tier of banks nationally. Outstanding net interest margin and superior efficiency ratios confirm both the bank’s unique client relationship strategy, calculated decision making, and the effective operating systems that have resulted from our continuous improvement focus through project management, product evaluation, and technology implementation programs. In preparation for a less certain general economic environment, we have continued to invest in people and technology. We expanded our geographic footprint into Santa Barbara County and added relationship managers throughout Southern California, and management is preparing for and evaluating a wave of newer technologies including AI and risk management tools. In addition, our Team takes pride in continuing to commit their time and the bank’s financial support for non-profits in the communities we serve, in gratitude for these organizations’ outstanding work to strengthen their communities by improving the lives of those they serve,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank.

    STATEMENT OF INCOME

    Net Interest Income

    Net interest income for the second quarter of 2025 totaled $30.1 million, an increase of $2.4 million or 8.6% from the prior quarter and an increase of $5.4 million or 22.1% from the second quarter of 2024. The increase from the prior quarter was due to a $1.7 million increase in interest income, which included $0.7 million of nonaccrual interest recognized on loans that were fully satisfied through a foreclosure, and a $0.7 million decrease in interest expense, resulting from a 19 basis point reduction in the cost of interest-bearing liabilities, primarily driven by a 14 basis point decrease in the cost of total deposits.

    Net Interest Margin

    Net interest margin for the second quarter of 2025 was 4.94%, compared to 4.61% for the prior quarter and 4.48% in the second quarter of 2024. The 33 basis point increase in net interest margin from the prior quarter was primarily due to a higher average yield on loans, which included the effect of an 11 basis point increase in net interest margin due to nonaccrual interest recognized on loans that were fully satisfied through foreclosure, and a decrease in the cost of total funding sources. The yield on interest-earning assets was 6.89% for the second quarter of 2025 compared to 6.70% for the prior quarter, and the cost of interest-bearing liabilities was 2.95% for the second quarter of 2025 compared to 3.14% in the prior quarter. The cost of total deposits was 2.08% for the second quarter of 2025 compared to 2.22% in the prior quarter. The cost of core deposits, which excludes brokered deposits, was 1.94% in the second quarter of 2025 compared to 1.99% in the prior quarter and 2.28% for the second quarter of 2024. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025.

    Provision for Credit Losses

    Provision expense for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million in the prior quarter and $2.1 million in the second quarter of 2024. The provision expense for loans HFI for the second quarter of 2025 was $1.7 million, primarily reflecting a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. This was offset by a $0.4 million reversal for unfunded commitments due to increased line of credit utilization that resulted in lower unfunded commitment balances. For more details, please refer to the “Asset Quality” section below.

    Noninterest Income

    Noninterest income was $1.7 million for the second quarter of 2025, compared to $1.6 million in the prior quarter and $1.5 million in the second quarter of 2024. U.S. Small Business Administration (“SBA”) loan sales for the second quarter of 2025 were $9.5 million with a 10.01% average trade premium resulting in a net gain on sale of $523 thousand, compared with $8.3 million with a 10.86% average trade premium resulting in a net gain on sale of $469 thousand in the prior quarter.

    Noninterest Expense

    Noninterest expense was $15.7 million for the second quarter of 2025, compared to $14.1 million in the prior quarter and $13.0 million in the second quarter of 2024. The increase in noninterest expense from the prior quarter is primarily due to higher compensation and benefits costs from continued hiring, including a team of bankers in Montecito, as well as elevated professional services expenses related to expanded loan portfolio reviews performed during the quarter as we proactively manage credit risk and the transition to a new Chief Credit Officer. The efficiency ratio was 49.27% for the second quarter of 2025 compared to 47.90% in the prior quarter and 49.46% in the second quarter of 2024. The slight increase in the efficiency ratio from the prior quarter was due to the increase in noninterest expense.

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

    Provision for Income Tax Expense

    Provision for income tax expense was $4.4 million for the second quarter of 2025, compared to $4.4 million for the prior quarter. The effective tax rate for the second quarter of 2025 was 29.7%, compared to 29.5% in the prior quarter and 29.5% in the second quarter of 2024.

    STATEMENT OF FINANCIAL CONDITION

    As of June 30, 2025, total assets were $2.45 billion, a decrease of $28.0 million since March 31, 2025. The decrease in assets from the prior quarter was primarily due to lower cash and due from banks, partially offset by higher investment securities and loans receivable. Our total cash and due from banks decreased to $140.6 million as of June 30, 2025, a decrease of $77.9 million or 35.6% since March 31, 2025, primarily due to purchases of investment securities and a decrease in brokered deposits and borrowings. Investment securities available-for-sale (“AFS”) were $188.8 million as of June 30, 2025, an increase of $32.5 million or 20.8% since March 31, 2025, primarily as a result of new securities purchased. As of June 30, 2025, the net unrealized loss on the AFS investment securities portfolio, which is comprised mostly of US Treasury and Government Agency debt, was $9.0 million (pre-tax) compared to a loss of $10.1 million (pre-tax) as of March 31, 2025. The average duration of the Bank’s AFS portfolio is 3.9 years. The Company has no held-to-maturity securities. Loans HFI totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% since March 31, 2025, primarily due to growth in investor owned commercial real estate (“CRE”) and SBA loans, partially offset by decreased construction and commercial and industrial (“C&I”) loan balances.

    Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million since March 31, 2025. During the quarter, core deposits increased by $22.0 million, which was driven by a $19.6 million increase in interest-bearing core deposits (including balances in the IntraFi ICS and CDARS programs) and a $2.4 million increase in noninterest-bearing core deposits. The deposit mix has continued to shift due to short-term interest rates remaining elevated compared to recent years. Noninterest-bearing deposits represent 29.0% of total core deposits. Offsetting the increase to total deposits from core deposits, brokered deposits decreased by $51.2 million. Uninsured deposits, net of collateralized and fiduciary deposit accounts, represent 50.6% of total deposits as of June 30, 2025.

    As of June 30, 2025, total available liquidity was $2.1 billion or 194.5% of uninsured deposits, net of collateralized and fiduciary deposit accounts. Total available liquidity is comprised of $321 million of on-balance sheet liquidity (cash and investment securities) and $1.8 billion of unused borrowing capacity.

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

    As of June 30, 2025, the allowance for loan losses was $28.2 million or 1.35% of loans HFI, compared to $26.4 million or 1.27% of loans HFI as of March 31, 2025. The increase in the coverage ratio from March 31, 2025 is due primarily to a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. The Company continues to have strong credit metrics and its nonperforming assets are 0.66% of total assets as of June 30, 2025 compared to 0.63% as of March 31, 2025. The reserve for unfunded commitments was $0.9 million as of June 30, 2025, compared to $1.3 million as of March 31, 2025. The decrease in the reserve for unfunded commitments was due to lower unfunded commitment balances (driven by higher credit line usage). Given the credit quality of the loan portfolio, management believes we are sufficiently reserved.

    At June 30, 2025 and March 31, 2025, there were no doubtful credits and classified assets were $36.2 million and $27.8 million, respectively. Total classified assets consisted of 26 loans as of June 30, 2025, which included 17 loans totaling $22.5 million secured by real estate with total specific reserves of $1.1 million and a weighted average LTV of 56.6%. The remaining 9 loans were $13.7 million of commercial and industrial loans, one of which was an unsecured loan on nonaccrual status with a carrying value of $1.5 million and a specific reserve of $1.0 million (the loan is recorded net of a $1.1 million partial charge off recorded in the first quarter of 2025).

    The Bank’s loan portfolio does include assets that are in the affected areas of Los Angeles devastated by wildfires. Of these loans, two relationships with loan balances totaling $34.1 million have been placed on payment deferral.  However, based on assessments performed to date, management does not believe there is a material impact to the financial statements.

    Capital Ratios (2)

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

      June 30, 2025 (2) March 31, 2025
    CalPrivate Bank    
    Tier I leverage ratio 10.70% 10.35%
    Tier I risk-based capital ratio 12.12% 11.75%
    Total risk-based capital ratio 13.37% 13.00%
         

    (2) June 30, 2025 capital ratios are preliminary and subject to change.

    CalPrivate Bank Announces Board of Directors Changes

    During the second quarter, Thomas Wornham and Richard Smith concluded their service on the Bank’s Board of Directors. The Bank extends its sincere gratitude to Mr. Wornham and Mr. Smith for their contributions and dedication during their tenure. Neither individual served on the Company’s Board of Directors. Mr. Smith continues his business development activities for the Bank.

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

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

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

    Non-GAAP Financial Measures

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

    Investor Relations Contacts

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

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

    Safe Harbor Paragraph

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

                     
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED BALANCE SHEET
    (Unaudited)
    (Dollars in thousands)
                     
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024
    Assets                
    Cash and due from banks $ 26,215     $ 34,720     $ 13,545  
    Interest-bearing deposits in other financial institutions   14,715       16,155       12,502  
    Interest-bearing deposits at Federal Reserve Bank   99,689       167,606       132,330  
    Total cash and due from banks   140,619       218,481       158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,097  
    Investment debt securities available for sale   188,821       156,346       121,725  
    Loans held for sale   8,826       2,066       –  
    Loans, net of deferred fees and costs and unaccreted discounts   2,081,063       2,078,653       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       1,953,129  
    Federal Home Loan Bank stock, at cost   10,652       9,586       9,586  
    Operating lease right of use assets   7,254       6,383       4,719  
    Premises and equipment, net   2,213       2,432       2,207  
    Servicing assets, net   1,964       1,993       2,164  
    Accrued interest receivable   8,624       8,148       7,906  
    Other assets   28,752       21,009       21,774  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,285,684  
                     
    Liabilities and Shareholders’ Equity                
    Liabilities                
    Noninterest bearing $ 601,473     $ 599,095     $ 557,055  
    Interest bearing   1,561,407       1,593,014       1,444,671  
    Total deposits   2,162,880       2,192,109       2,001,726  
    FHLB borrowings   11,000       16,000       48,000  
    Other borrowings   17,972       17,970       17,965  
    Accrued interest payable and other liabilities   16,089       21,559       16,551  
    Total liabilities   2,207,941       2,247,638       2,084,242  
                     
    Shareholders’ equity                
    Common stock   76,398       76,156       74,636  
    Additional paid-in capital   4,009       3,712       3,717  
    Retained earnings   172,849       162,462       132,179  
    Accumulated other comprehensive (loss) income, net   (6,317 )     (7,095 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,285,684  
                           
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (Dollars in thousands, except per share amounts)
               
      For the three months ended     Year to Date  
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024
    Interest Income                            
    Loans $ 38,004     $ 36,565     $ 35,538     $ 74,569     $ 68,544  
    Investment securities   1,800       1,505       1,090       3,305       2,069  
    Deposits in other financial institutions   2,184       2,198       2,034       4,382       3,833  
    Total interest income   41,988       40,268       38,662       82,256       74,446  
                                 
    Interest Expense                            
    Deposits   11,376       11,899       13,040       23,275       25,170  
    Borrowings   499       637       952       1,136       1,838  
    Total interest expense   11,875       12,536       13,992       24,411       27,008  
                                 
    Net interest income   30,113       27,732       24,670       57,845       47,438  
    Provision for credit losses   1,293       299       2,136       1,592       2,369  
    Net interest income after provision for credit losses   28,820       27,433       22,534       56,253       45,069  
                                 
    Noninterest income:                            
    Service charges on deposit accounts   591       557       430       1,148       818  
    Net gain on sale of loans   523       469       661       992       1,342  
    Other noninterest income   616       587       447       1,203       804  
    Total noninterest income   1,730       1,613       1,538       3,343       2,964  
                                 
    Noninterest expense:                            
    Compensation and employee benefits   10,319       9,748       8,836       20,067       17,697  
    Occupancy and equipment   840       844       822       1,684       1,592  
    Data processing   1,396       1,326       1,183       2,722       2,241  
    Professional services   939       508       424       1,447       912  
    Other expenses   2,195       1,629       1,697       3,824       3,303  
    Total noninterest expense   15,689       14,055       12,962       29,744       25,745  
    Income before provision for income taxes   14,861       14,991       11,110       29,852       22,288  
    Provision for income taxes   4,412       4,429       3,283       8,841       6,577  
    Net income $ 10,449     $ 10,562     $ 7,827     $ 21,011     $ 15,711  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 7,761     $ 20,834     $ 15,595  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.36     $ 3.63     $ 2.74  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.35     $ 3.57     $ 2.71  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,702,938       5,744,836       5,688,135  
    Diluted average shares outstanding   5,837,537       5,826,229       5,762,616       5,830,897       5,755,250  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
                                                                           
      For the three months ended 
      Jun 30, 2025    Mar 31, 2025    Jun 30, 2024 
      Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate     
    Interest-Earnings Assets                                                                      
    Deposits in other financial institutions $ 191,701     $ 2,184       4.57 %   $ 202,907     $ 2,198       4.39 %   $ 152,563     $ 2,034       5.36 %
    Investment securities   182,772       1,800       3.94 %     157,747       1,505       3.82 %     123,876       1,090       3.52 %
    Loans, including LHFS   2,069,415       38,004       7.37 %     2,078,588       36,565       7.13 %     1,939,746       35,538       7.37 %
    Total interest-earning assets   2,443,888       41,988       6.89 %     2,439,242       40,268       6.70 %     2,216,185       38,662       7.02 %
    Noninterest-earning assets   43,336                       28,536                       25,675                  
    Total Assets $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Interest-Bearing Liabilities                                                                      
    Interest bearing DDA, excluding brokered   242,929       814       1.34 %     244,301       970       1.61 %     130,361       463       1.43 %
    Savings & MMA, excluding brokered   1,002,820       7,130       2.85 %     955,259       6,830       2.90 %     845,856       7,354       3.50 %
    Time deposits, excluding brokered   218,900       2,097       3.84 %     196,375       1,956       4.04 %     164,714       1,690       4.13 %
    Total deposits, excluding brokered   1,464,649       10,041       2.75 %     1,395,935       9,756       2.83 %     1,140,931       9,507       3.35 %
    Total brokered deposits   120,935       1,335       4.43 %     183,059       2,143       4.75 %     284,290       3,533       5.00 %
    Total Interest-Bearing Deposits   1,585,584       11,376       2.88 %     1,578,994       11,899       3.06 %     1,425,221       13,040       3.68 %
                                                                           
    FHLB advances   12,868       139       4.33 %     24,122       272       4.57 %     47,373       581       4.93 %
    Other borrowings   17,973       360       8.03 %     17,981       365       8.23 %     17,966       371       8.31 %
    Total Interest-Bearing Liabilities   1,616,425       11,875       2.95 %     1,621,097       12,536       3.14 %     1,490,560       13,992       3.78 %
                                                                           
    Noninterest-bearing deposits   609,760                       594,408                       535,878                  
    Total Funding Sources   2,226,185       11,875       2.14 %     2,215,505       12,536       2.29 %     2,026,438       13,992       2.78 %
                                                                           
    Noninterest-bearing liabilities   18,804                       21,542                       16,334                  
    Shareholders’ equity   242,235                       230,731                       199,088                  
                                                                           
    Total Liabilities and Shareholders’ Equity $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Net interest income/spread         $ 30,113       4.75 %           $ 27,732       4.41 %           $ 24,670       4.24 %
    Net interest margin                   4.94 %                     4.61 %                     4.48 %
                                                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
         
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
      Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		  
    Interest-Earnings Assets:                                  
    Deposits in other financial institutions $ 197,273     $ 4,382       4.48 %   $ 144,037     $ 3,833       5.35 %
    Investment securities   170,328       3,305       3.88 %     121,783       2,069       3.40 %
    Loans   2,073,976       74,569       7.25 %     1,904,028       68,544       7.24 %
    Total interest-earning assets   2,441,577       82,256       6.79 %     2,169,848       74,446       6.90 %
    Noninterest-earning assets   35,977                   25,571              
    Total Assets $ 2,477,554                 $ 2,195,419              
                                       
    Interest-Bearing Liabilities                                  
    Interest bearing DDA, excluding brokered   243,611       1,784       1.48 %     120,100       904       1.51 %
    Savings & MMA, excluding brokered   979,170       13,960       2.88 %     805,813       13,775       3.44 %
    Time deposits, excluding brokered   207,699       4,053       3.94 %     160,208       3,273       4.11 %
    Total deposits, excluding brokered   1,430,480       19,797       2.79 %     1,086,121       17,952       3.32 %
    Total brokered deposits   151,825       3,478       4.62 %     286,088       7,218       5.07 %
    Total Interest-Bearing Deposits   1,582,305       23,275       2.97 %     1,372,209       25,170       3.69 %
                                       
    FHLB advances   18,464       411       4.49 %     48,653       1,195       4.94 %
    Other borrowings   17,977       725       8.13 %     17,964       643       7.20 %
    Total Interest-Bearing Liabilities   1,618,746       24,411       3.04 %     1,438,826       27,008       3.77 %
                                       
    Noninterest-bearing deposits   602,126                   544,709              
    Total Funding Sources   2,220,872       24,411       2.22 %     1,983,535       27,008       2.74 %
                                       
    Noninterest-bearing liabilities   20,165                   17,176              
    Shareholders’ equity   236,517                   194,708              
                                       
    Total Liabilities and Shareholders’ Equity $ 2,477,554                 $ 2,195,419              
                                       
    Net interest income/spread       $ 57,845       4.57 %         $ 47,438       4.16 %
    Net interest margin               4.78 %                 4.40 %
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Balance Sheets
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                                 
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Assets                            
    Cash and due from banks $ 140,619     $ 218,481     $ 163,876     $ 207,174     $ 158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,189       4,124       4,097  
    Investment securities   188,821       156,346       145,238       141,100       121,725  
    Loans held for sale   8,826       2,066       3,008       2,040       –  
    Total loans held-for-investment   2,081,063       2,078,653       2,085,149       2,012,457       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (27,267 )     (26,594 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       2,057,882       1,985,863       1,953,129  
    Operating lease right of use assets   7,254       6,383       6,819       4,344       4,719  
    Premises and equipment, net   2,213       2,432       2,335       2,345       2,207  
    Other assets and interest receivable   49,992       40,736       40,664       39,383       41,430  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Liabilities and Shareholders’ Equity                            
    Liabilities                            
    Noninterest Bearing $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest Bearing   1,561,407       1,593,014       1,581,054       1,522,839       1,444,671  
    Total Deposits   2,162,880       2,192,109       2,134,459       2,107,131       2,001,726  
    Borrowings   28,972       33,970       45,969       45,967       65,965  
    Accrued interest payable and other liabilities   16,089       21,559       20,049       19,062       16,551  
    Total liabilities   2,207,941       2,247,638       2,200,477       2,172,160       2,084,242  
    Shareholders’ equity                            
    Common stock   76,398       76,156       75,377       74,688       74,636  
    Additional paid-in capital   4,009       3,712       4,393       4,271       3,717  
    Retained earnings   172,849       162,462       152,252       141,623       132,179  
    Accumulated other comprehensive (loss) income   (6,317 )     (7,095 )     (8,488 )     (6,369 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       223,534       214,213       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Book value per common share $ 42.54     $ 40.63     $ 38.76     $ 37.21     $ 35.03  
    Tangible book value per common share (1) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  

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

     
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Statements of Income
    (Unaudited)
    (Dollars in thousands, except per share amounts)
         
      For the three months ended  
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Interest income $ 41,988     $ 40,268     $ 40,430     $ 40,018     $ 38,662  
    Interest expense   11,875       12,536       13,023       14,311       13,992  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Provision for credit losses   1,293       299       17       304       2,136  
    Net interest income after provision for credit losses   28,820       27,433       27,390       25,403       22,534  
                                 
    Service charges on deposit accounts   591       557       558       504       430  
    Net gain on sale of loans   523       469       932       587       661  
    Other noninterest income   616       587       456       343       447  
    Total noninterest income   1,730       1,613       1,946       1,434       1,538  
                                 
    Compensation and employee benefits   10,319       9,748       9,539       9,422       8,836  
    Occupancy and equipment   840       844       847       818       822  
    Data processing   1,396       1,326       1,195       1,238       1,183  
    Professional services   939       508       573       252       424  
    Other expenses   2,195       1,629       2,036       1,695       1,697  
    Total noninterest expense   15,689       14,055       14,190       13,425       12,962  
                                 
    Income before provision for income taxes   14,861       14,991       15,146       13,412       11,110  
    Income taxes   4,412       4,429       4,488       3,959       3,283  
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 10,573     $ 9,373     $ 7,761  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.85     $ 1.64     $ 1.36  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.82     $ 1.63     $ 1.35  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,716,291       5,707,723       5,702,938  
    Diluted average shares outstanding   5,837,537       5,826,229       5,813,197       5,767,401       5,762,616  
                                           
      Performance Ratios
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    ROAA   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    ROAE   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    ROATCE (1)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
    Net interest margin   4.94 %     4.61 %     4.67 %     4.44 %     4.48 %
    Net interest spread   4.75 %     4.41 %     4.44 %     4.20 %     4.24 %
    Efficiency ratio (1)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
    Noninterest expense / average assets   2.53 %     2.31 %     2.39 %     2.29 %     2.32 %

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

     
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
       
      Selected Quarterly Average Balances
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total assets $ 2,487,224     $ 2,467,778     $ 2,359,950     $ 2,328,399     $ 2,241,860  
    Earning assets $ 2,443,888     $ 2,439,242     $ 2,334,999     $ 2,303,537     $ 2,216,185  
    Total loans, including loans held for sale $ 2,069,415     $ 2,078,588     $ 2,036,178     $ 1,989,748     $ 1,939,746  
    Total deposits $ 2,195,344     $ 2,173,402     $ 2,071,050     $ 2,047,197     $ 1,961,099  
    Total shareholders’ equity $ 242,235     $ 230,731     $ 219,963     $ 208,889     $ 199,088  
                                           
      Loan Balances by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Commercial Real Estate (CRE):                            
    Investor owned $ 604,073     $ 577,512     $ 572,659     $ 560,481     $ 566,314  
    Owner occupied   223,558       228,232       223,442       221,364       216,876  
    Multifamily   160,902       163,218       162,330       175,387       177,390  
    Secured by single family   197,100       200,650       198,579       190,738       181,744  
    Land and construction   51,669       70,293       62,638       68,186       58,109  
    SBA secured by real estate   407,148       402,524       401,990       395,646       388,271  
    Total CRE   1,644,450       1,642,429       1,621,638       1,611,802       1,588,704  
    Commercial business:                            
    Commercial and industrial   404,489       417,258       441,182       383,874       378,161  
    SBA non-real estate secured   30,183       17,004       20,205       15,101       10,758  
    Total commercial business   434,672       434,262       461,387       398,975       388,919  
    Consumer   1,941       1,962       2,124       1,680       2,097  
    Total loans held for investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
                                           
      Deposits by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Noninterest-bearing DDA $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest-bearing DDA, excluding brokered   251,701       257,720       251,594       182,268       156,253  
    Savings & MMA, excluding brokered   990,798       981,491       887,740       920,219       861,508  
    Time deposits, excluding brokered   227,129       210,845       201,851       186,583       168,664  
    Total deposits, excluding brokered   2,071,101       2,049,151       1,894,590       1,873,362       1,743,480  
    Total brokered deposits   91,779       142,958       239,869       233,769       258,246  
    Total deposits $ 2,162,880     $ 2,192,109     $ 2,134,459     $ 2,107,131     $ 2,001,726  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
         
      Rollforward of Allowance for Credit Losses
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Allowance for loan losses:                            
    Beginning balance $ 26,437     $ 27,267     $ 26,594     $ 26,591     $ 24,693  
    Provision for loan losses   1,741       460       673       3       1,994  
    Net (charge-offs) recoveries   –       (1,290 )     –       –       (96 )
    Ending balance   28,178       26,437       27,267       26,594       26,591  
    Reserve for unfunded commitments   899       1,348       1,509       2,165       1,865  
    Total allowance for credit losses $ 29,077     $ 27,785     $ 28,776     $ 28,759     $ 28,456  
                                           
      Asset Quality
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total loans held-for-investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
    Allowance for loan losses $ (28,178 )   $ (26,437 )   $ (27,267 )   $ (26,594 )   $ (26,591 )
    30-89 day past due loans $ 4,842     $ 2,399     $ 1,952     $ –     $ –  
    90+ day past due loans $ 2,850     $ 13,223     $ 11,512     $ 11,512     $ 2,500  
    Nonaccrual loans $ 7,716     $ 15,565     $ 11,512     $ 11,512     $ 2,500  
    Other real estate owned (OREO) $ 8,568     $ –     $ –     $ –     $ –  
    NPAs / Total assets   0.66 %     0.63 %     0.47 %     0.48 %     0.11 %
    NPLs / Total loans held-for-investment   0.37 %     0.75 %     0.55 %     0.57 %     0.13 %
    Net quarterly charge-offs (recoveries) $ –     $ 1,290     $ –     $ –     $ 96  
    Net charge-offs (recoveries) /avg loans (annualized)   0.00 %     0.25 %     0.00 %     0.00 %     0.02 %
    Allowance for loan losses to loans HFI   1.35 %     1.27 %     1.31 %     1.32 %     1.34 %
    Allowance for loan losses to nonaccrual loans   365.19 %     169.85 %     236.86 %     231.01 %     1063.64 %
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

         
      GAAP to Non-GAAP Reconciliation
      (Dollars in thousands)
                                 
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Efficiency Ratio                            
    Noninterest expense $ 15,689     $ 14,055     $ 14,190     $ 13,425     $ 12,962  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Efficiency ratio (non-GAAP)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
                                 
    Pretax pre-provision net revenue                            
    Net interest income $ 30,113     $ 27,732     $ 27,407     $ 25,707     $ 24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Less: Noninterest expense   15,689       14,055       14,190       13,425       12,962  
    Pretax pre-provision net revenue (non-GAAP) $ 16,154     $ 15,290     $ 15,163     $ 13,716     $ 13,246  
                                 
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity                            
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Average assets   2,487,224       2,467,778       2,359,950       2,328,399       2,241,860  
    Average shareholders’ equity   242,235       230,731       219,963       208,889       199,088  
    Less: Average intangible assets   1,953       2,098       2,028       2,051       2,163  
    Average tangible common equity (non-GAAP)   240,282       228,633       217,935       206,838       196,925  
                                 
    Return on average assets   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    Return on average equity   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    Return on average tangible common equity (non-GAAP)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
                                 
    Tangible book value per share                            
    Total equity   246,939       235,235       223,534       214,213       201,442  
    Less: Total intangible assets   1,964       1,993       2,087       2,006       2,164  
    Total tangible equity   244,975       233,242       221,447       212,207       199,278  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  
    Tangible book value per share (non-GAAP) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

         
      GAAP to Non-GAAP Reconciliation  
      (Dollars in thousands)  
               
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
    Efficiency Ratio          
    Noninterest expense $ 29,744     $ 25,745  
    Net interest income   57,845       47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Efficiency ratio (non-GAAP)   48.61 %     51.08 %
               
    Pretax pre-provision net revenue          
    Net interest income $ 57,845     $ 47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Less: Noninterest expense   29,744       25,745  
    Pretax pre-provision net revenue (non-GAAP) $ 31,444     $ 24,657  
               
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity          
    Net income $ 21,011     $ 15,711  
    Average assets   2,477,554       2,195,419  
    Average shareholders’ equity   236,517       194,708  
    Less: Average intangible assets   2,025       2,185  
    Average tangible common equity (non-GAAP)   234,492       192,523  
               
    Return on average assets   1.71 %     1.44 %
    Return on average equity   17.91 %     16.23 %
    Return on average tangible common equity (non-GAAP)   18.07 %     16.41 %
                   

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

    • Net income for the second quarter of 2025 was $10.4 million, compared to $10.6 million in the prior quarter and $7.8 million in the second quarter of 2024. Net income increased 33.5% year over year
    • Net income for the second quarter of 2025 represents a return on average assets of 1.69% and a return on average tangible common equity of 17.44%
    • Diluted earnings per share for the second quarter of 2025 was $1.77, compared to $1.80 in the prior quarter and $1.35 in the second quarter of 2024
    • Core deposits were $2.07 billion as of June 30, 2025, an increase of $22.0 million or 1.1% from March 31, 2025. Core deposits increased $327.6 million or 18.8% year over year. Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million or 1.3% from March 31, 2025, which included a reduction in brokered deposits of $51.2 million. Total deposits increased 8.1% year over year
    • Total cost of deposits was 2.08% for the second quarter of 2025, a decrease from 2.22% in the prior quarter and 2.67% in the second quarter of 2024, an improvement of 6.4% quarter over quarter and 22.3% year over year. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025. Total cost of funding sources was 2.14% for the second quarter of 2025, a decrease from 2.29% in the prior quarter and 2.78% in the second quarter of 2024
    • Loans held-for-investment (“HFI”) totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% from March 31, 2025. Loans HFI increased 5.1% year over year
    • Net interest margin was 4.94% for the second quarter of 2025, compared to 4.61% in the prior quarter and 4.48% in the second quarter of 2024
    • Provision for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million for the prior quarter and $2.1 million for the second quarter of 2024. The allowance for loan losses was 1.35% of loans HFI as of June 30, 2025 compared to 1.27% at March 31, 2025
    • As of June 30, 2025, criticized loans totaled $58.2 million, or 2.79% of total loans, up from $40.8 million, or 1.96% of total loans, in the prior quarter
    • Tangible book value per share was $42.20 as of June 30, 2025, an increase of $1.91 since March 31, 2025 primarily as a result of strong earnings. Tangible book value per share increased 4.7% quarter-over-quarter and 21.8% year over year.

    LA JOLLA, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the second fiscal quarter ended June 30, 2025. The Company reported net income of $10.4 million, or $1.77 per diluted share, for the second quarter of 2025, compared to $10.6 million, or $1.80 per diluted share, in the prior quarter, and $7.8 million, or $1.35 per diluted share, in the second quarter of 2024.

    Rick Sowers, President and CEO of the Company and the Bank stated, “Earnings continue to be strong as a result of improvement in our deposit base and funding costs as well as an industry leading net interest margin.  Although 2025 has been a slower year for loan growth due to economic uncertainty and what we view as unreasonable market loan pricing, we are adding new Relationships across our footprint by delivering Distinctively Different Service and providing Clients with customized Solutions that meet their individual needs. We have onboarded 8 new Relationship focused Team Members this quarter, with more in the pipeline.  We are strong believers in the Southern California market, as demonstrated by our new Santa Barbara County office in Montecito, which we anticipate opening in the third quarter.”

    Sowers added, “The Bank’s superior financial performance and industry leading service metrics continue to be recognized by industry publications and our Clients. This recognition reinforces our strategic thinking and our dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value: 

    • Top 20 Community Banks in the US for 2025 by American Banker with assets between $2B and $10B in assets and #2 in California
    • #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets in 2024
    • #1 SBA 504 Community Bank Lender in the United States
    • #10 Best U.S. Bank by Bank Director’s RankingBanking®
    • Client Net Promoter Score of 81 (World Class)
    • Bauer 5 Star Rating
    • 2025 Best 50 OTCQX

    “Management has continued to focus on providing clients with a differentiated superior banking experience while producing industry leading shareholder value creation. Client surveys validate superior service levels while financial results remain in the top tier of banks nationally. Outstanding net interest margin and superior efficiency ratios confirm both the bank’s unique client relationship strategy, calculated decision making, and the effective operating systems that have resulted from our continuous improvement focus through project management, product evaluation, and technology implementation programs. In preparation for a less certain general economic environment, we have continued to invest in people and technology. We expanded our geographic footprint into Santa Barbara County and added relationship managers throughout Southern California, and management is preparing for and evaluating a wave of newer technologies including AI and risk management tools. In addition, our Team takes pride in continuing to commit their time and the bank’s financial support for non-profits in the communities we serve, in gratitude for these organizations’ outstanding work to strengthen their communities by improving the lives of those they serve,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank.

    STATEMENT OF INCOME

    Net Interest Income

    Net interest income for the second quarter of 2025 totaled $30.1 million, an increase of $2.4 million or 8.6% from the prior quarter and an increase of $5.4 million or 22.1% from the second quarter of 2024. The increase from the prior quarter was due to a $1.7 million increase in interest income, which included $0.7 million of nonaccrual interest recognized on loans that were fully satisfied through a foreclosure, and a $0.7 million decrease in interest expense, resulting from a 19 basis point reduction in the cost of interest-bearing liabilities, primarily driven by a 14 basis point decrease in the cost of total deposits.

    Net Interest Margin

    Net interest margin for the second quarter of 2025 was 4.94%, compared to 4.61% for the prior quarter and 4.48% in the second quarter of 2024. The 33 basis point increase in net interest margin from the prior quarter was primarily due to a higher average yield on loans, which included the effect of an 11 basis point increase in net interest margin due to nonaccrual interest recognized on loans that were fully satisfied through foreclosure, and a decrease in the cost of total funding sources. The yield on interest-earning assets was 6.89% for the second quarter of 2025 compared to 6.70% for the prior quarter, and the cost of interest-bearing liabilities was 2.95% for the second quarter of 2025 compared to 3.14% in the prior quarter. The cost of total deposits was 2.08% for the second quarter of 2025 compared to 2.22% in the prior quarter. The cost of core deposits, which excludes brokered deposits, was 1.94% in the second quarter of 2025 compared to 1.99% in the prior quarter and 2.28% for the second quarter of 2024. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025.

    Provision for Credit Losses

    Provision expense for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million in the prior quarter and $2.1 million in the second quarter of 2024. The provision expense for loans HFI for the second quarter of 2025 was $1.7 million, primarily reflecting a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. This was offset by a $0.4 million reversal for unfunded commitments due to increased line of credit utilization that resulted in lower unfunded commitment balances. For more details, please refer to the “Asset Quality” section below.

    Noninterest Income

    Noninterest income was $1.7 million for the second quarter of 2025, compared to $1.6 million in the prior quarter and $1.5 million in the second quarter of 2024. U.S. Small Business Administration (“SBA”) loan sales for the second quarter of 2025 were $9.5 million with a 10.01% average trade premium resulting in a net gain on sale of $523 thousand, compared with $8.3 million with a 10.86% average trade premium resulting in a net gain on sale of $469 thousand in the prior quarter.

    Noninterest Expense

    Noninterest expense was $15.7 million for the second quarter of 2025, compared to $14.1 million in the prior quarter and $13.0 million in the second quarter of 2024. The increase in noninterest expense from the prior quarter is primarily due to higher compensation and benefits costs from continued hiring, including a team of bankers in Montecito, as well as elevated professional services expenses related to expanded loan portfolio reviews performed during the quarter as we proactively manage credit risk and the transition to a new Chief Credit Officer. The efficiency ratio was 49.27% for the second quarter of 2025 compared to 47.90% in the prior quarter and 49.46% in the second quarter of 2024. The slight increase in the efficiency ratio from the prior quarter was due to the increase in noninterest expense.

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

    Provision for Income Tax Expense

    Provision for income tax expense was $4.4 million for the second quarter of 2025, compared to $4.4 million for the prior quarter. The effective tax rate for the second quarter of 2025 was 29.7%, compared to 29.5% in the prior quarter and 29.5% in the second quarter of 2024.

    STATEMENT OF FINANCIAL CONDITION

    As of June 30, 2025, total assets were $2.45 billion, a decrease of $28.0 million since March 31, 2025. The decrease in assets from the prior quarter was primarily due to lower cash and due from banks, partially offset by higher investment securities and loans receivable. Our total cash and due from banks decreased to $140.6 million as of June 30, 2025, a decrease of $77.9 million or 35.6% since March 31, 2025, primarily due to purchases of investment securities and a decrease in brokered deposits and borrowings. Investment securities available-for-sale (“AFS”) were $188.8 million as of June 30, 2025, an increase of $32.5 million or 20.8% since March 31, 2025, primarily as a result of new securities purchased. As of June 30, 2025, the net unrealized loss on the AFS investment securities portfolio, which is comprised mostly of US Treasury and Government Agency debt, was $9.0 million (pre-tax) compared to a loss of $10.1 million (pre-tax) as of March 31, 2025. The average duration of the Bank’s AFS portfolio is 3.9 years. The Company has no held-to-maturity securities. Loans HFI totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% since March 31, 2025, primarily due to growth in investor owned commercial real estate (“CRE”) and SBA loans, partially offset by decreased construction and commercial and industrial (“C&I”) loan balances.

    Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million since March 31, 2025. During the quarter, core deposits increased by $22.0 million, which was driven by a $19.6 million increase in interest-bearing core deposits (including balances in the IntraFi ICS and CDARS programs) and a $2.4 million increase in noninterest-bearing core deposits. The deposit mix has continued to shift due to short-term interest rates remaining elevated compared to recent years. Noninterest-bearing deposits represent 29.0% of total core deposits. Offsetting the increase to total deposits from core deposits, brokered deposits decreased by $51.2 million. Uninsured deposits, net of collateralized and fiduciary deposit accounts, represent 50.6% of total deposits as of June 30, 2025.

    As of June 30, 2025, total available liquidity was $2.1 billion or 194.5% of uninsured deposits, net of collateralized and fiduciary deposit accounts. Total available liquidity is comprised of $321 million of on-balance sheet liquidity (cash and investment securities) and $1.8 billion of unused borrowing capacity.

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

    As of June 30, 2025, the allowance for loan losses was $28.2 million or 1.35% of loans HFI, compared to $26.4 million or 1.27% of loans HFI as of March 31, 2025. The increase in the coverage ratio from March 31, 2025 is due primarily to a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. The Company continues to have strong credit metrics and its nonperforming assets are 0.66% of total assets as of June 30, 2025 compared to 0.63% as of March 31, 2025. The reserve for unfunded commitments was $0.9 million as of June 30, 2025, compared to $1.3 million as of March 31, 2025. The decrease in the reserve for unfunded commitments was due to lower unfunded commitment balances (driven by higher credit line usage). Given the credit quality of the loan portfolio, management believes we are sufficiently reserved.

    At June 30, 2025 and March 31, 2025, there were no doubtful credits and classified assets were $36.2 million and $27.8 million, respectively. Total classified assets consisted of 26 loans as of June 30, 2025, which included 17 loans totaling $22.5 million secured by real estate with total specific reserves of $1.1 million and a weighted average LTV of 56.6%. The remaining 9 loans were $13.7 million of commercial and industrial loans, one of which was an unsecured loan on nonaccrual status with a carrying value of $1.5 million and a specific reserve of $1.0 million (the loan is recorded net of a $1.1 million partial charge off recorded in the first quarter of 2025).

    The Bank’s loan portfolio does include assets that are in the affected areas of Los Angeles devastated by wildfires. Of these loans, two relationships with loan balances totaling $34.1 million have been placed on payment deferral.  However, based on assessments performed to date, management does not believe there is a material impact to the financial statements.

    Capital Ratios (2)

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

      June 30, 2025 (2) March 31, 2025
    CalPrivate Bank    
    Tier I leverage ratio 10.70% 10.35%
    Tier I risk-based capital ratio 12.12% 11.75%
    Total risk-based capital ratio 13.37% 13.00%
         

    (2) June 30, 2025 capital ratios are preliminary and subject to change.

    CalPrivate Bank Announces Board of Directors Changes

    During the second quarter, Thomas Wornham and Richard Smith concluded their service on the Bank’s Board of Directors. The Bank extends its sincere gratitude to Mr. Wornham and Mr. Smith for their contributions and dedication during their tenure. Neither individual served on the Company’s Board of Directors. Mr. Smith continues his business development activities for the Bank.

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

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

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

    Non-GAAP Financial Measures

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

    Investor Relations Contacts

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

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

    Safe Harbor Paragraph

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

                     
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED BALANCE SHEET
    (Unaudited)
    (Dollars in thousands)
                     
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024
    Assets                
    Cash and due from banks $ 26,215     $ 34,720     $ 13,545  
    Interest-bearing deposits in other financial institutions   14,715       16,155       12,502  
    Interest-bearing deposits at Federal Reserve Bank   99,689       167,606       132,330  
    Total cash and due from banks   140,619       218,481       158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,097  
    Investment debt securities available for sale   188,821       156,346       121,725  
    Loans held for sale   8,826       2,066       –  
    Loans, net of deferred fees and costs and unaccreted discounts   2,081,063       2,078,653       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       1,953,129  
    Federal Home Loan Bank stock, at cost   10,652       9,586       9,586  
    Operating lease right of use assets   7,254       6,383       4,719  
    Premises and equipment, net   2,213       2,432       2,207  
    Servicing assets, net   1,964       1,993       2,164  
    Accrued interest receivable   8,624       8,148       7,906  
    Other assets   28,752       21,009       21,774  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,285,684  
                     
    Liabilities and Shareholders’ Equity                
    Liabilities                
    Noninterest bearing $ 601,473     $ 599,095     $ 557,055  
    Interest bearing   1,561,407       1,593,014       1,444,671  
    Total deposits   2,162,880       2,192,109       2,001,726  
    FHLB borrowings   11,000       16,000       48,000  
    Other borrowings   17,972       17,970       17,965  
    Accrued interest payable and other liabilities   16,089       21,559       16,551  
    Total liabilities   2,207,941       2,247,638       2,084,242  
                     
    Shareholders’ equity                
    Common stock   76,398       76,156       74,636  
    Additional paid-in capital   4,009       3,712       3,717  
    Retained earnings   172,849       162,462       132,179  
    Accumulated other comprehensive (loss) income, net   (6,317 )     (7,095 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,285,684  
                           
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (Dollars in thousands, except per share amounts)
               
      For the three months ended     Year to Date  
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024
    Interest Income                            
    Loans $ 38,004     $ 36,565     $ 35,538     $ 74,569     $ 68,544  
    Investment securities   1,800       1,505       1,090       3,305       2,069  
    Deposits in other financial institutions   2,184       2,198       2,034       4,382       3,833  
    Total interest income   41,988       40,268       38,662       82,256       74,446  
                                 
    Interest Expense                            
    Deposits   11,376       11,899       13,040       23,275       25,170  
    Borrowings   499       637       952       1,136       1,838  
    Total interest expense   11,875       12,536       13,992       24,411       27,008  
                                 
    Net interest income   30,113       27,732       24,670       57,845       47,438  
    Provision for credit losses   1,293       299       2,136       1,592       2,369  
    Net interest income after provision for credit losses   28,820       27,433       22,534       56,253       45,069  
                                 
    Noninterest income:                            
    Service charges on deposit accounts   591       557       430       1,148       818  
    Net gain on sale of loans   523       469       661       992       1,342  
    Other noninterest income   616       587       447       1,203       804  
    Total noninterest income   1,730       1,613       1,538       3,343       2,964  
                                 
    Noninterest expense:                            
    Compensation and employee benefits   10,319       9,748       8,836       20,067       17,697  
    Occupancy and equipment   840       844       822       1,684       1,592  
    Data processing   1,396       1,326       1,183       2,722       2,241  
    Professional services   939       508       424       1,447       912  
    Other expenses   2,195       1,629       1,697       3,824       3,303  
    Total noninterest expense   15,689       14,055       12,962       29,744       25,745  
    Income before provision for income taxes   14,861       14,991       11,110       29,852       22,288  
    Provision for income taxes   4,412       4,429       3,283       8,841       6,577  
    Net income $ 10,449     $ 10,562     $ 7,827     $ 21,011     $ 15,711  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 7,761     $ 20,834     $ 15,595  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.36     $ 3.63     $ 2.74  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.35     $ 3.57     $ 2.71  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,702,938       5,744,836       5,688,135  
    Diluted average shares outstanding   5,837,537       5,826,229       5,762,616       5,830,897       5,755,250  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
                                                                           
      For the three months ended 
      Jun 30, 2025    Mar 31, 2025    Jun 30, 2024 
      Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate     
    Interest-Earnings Assets                                                                      
    Deposits in other financial institutions $ 191,701     $ 2,184       4.57 %   $ 202,907     $ 2,198       4.39 %   $ 152,563     $ 2,034       5.36 %
    Investment securities   182,772       1,800       3.94 %     157,747       1,505       3.82 %     123,876       1,090       3.52 %
    Loans, including LHFS   2,069,415       38,004       7.37 %     2,078,588       36,565       7.13 %     1,939,746       35,538       7.37 %
    Total interest-earning assets   2,443,888       41,988       6.89 %     2,439,242       40,268       6.70 %     2,216,185       38,662       7.02 %
    Noninterest-earning assets   43,336                       28,536                       25,675                  
    Total Assets $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Interest-Bearing Liabilities                                                                      
    Interest bearing DDA, excluding brokered   242,929       814       1.34 %     244,301       970       1.61 %     130,361       463       1.43 %
    Savings & MMA, excluding brokered   1,002,820       7,130       2.85 %     955,259       6,830       2.90 %     845,856       7,354       3.50 %
    Time deposits, excluding brokered   218,900       2,097       3.84 %     196,375       1,956       4.04 %     164,714       1,690       4.13 %
    Total deposits, excluding brokered   1,464,649       10,041       2.75 %     1,395,935       9,756       2.83 %     1,140,931       9,507       3.35 %
    Total brokered deposits   120,935       1,335       4.43 %     183,059       2,143       4.75 %     284,290       3,533       5.00 %
    Total Interest-Bearing Deposits   1,585,584       11,376       2.88 %     1,578,994       11,899       3.06 %     1,425,221       13,040       3.68 %
                                                                           
    FHLB advances   12,868       139       4.33 %     24,122       272       4.57 %     47,373       581       4.93 %
    Other borrowings   17,973       360       8.03 %     17,981       365       8.23 %     17,966       371       8.31 %
    Total Interest-Bearing Liabilities   1,616,425       11,875       2.95 %     1,621,097       12,536       3.14 %     1,490,560       13,992       3.78 %
                                                                           
    Noninterest-bearing deposits   609,760                       594,408                       535,878                  
    Total Funding Sources   2,226,185       11,875       2.14 %     2,215,505       12,536       2.29 %     2,026,438       13,992       2.78 %
                                                                           
    Noninterest-bearing liabilities   18,804                       21,542                       16,334                  
    Shareholders’ equity   242,235                       230,731                       199,088                  
                                                                           
    Total Liabilities and Shareholders’ Equity $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Net interest income/spread         $ 30,113       4.75 %           $ 27,732       4.41 %           $ 24,670       4.24 %
    Net interest margin                   4.94 %                     4.61 %                     4.48 %
                                                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
         
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
      Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		  
    Interest-Earnings Assets:                                  
    Deposits in other financial institutions $ 197,273     $ 4,382       4.48 %   $ 144,037     $ 3,833       5.35 %
    Investment securities   170,328       3,305       3.88 %     121,783       2,069       3.40 %
    Loans   2,073,976       74,569       7.25 %     1,904,028       68,544       7.24 %
    Total interest-earning assets   2,441,577       82,256       6.79 %     2,169,848       74,446       6.90 %
    Noninterest-earning assets   35,977                   25,571              
    Total Assets $ 2,477,554                 $ 2,195,419              
                                       
    Interest-Bearing Liabilities                                  
    Interest bearing DDA, excluding brokered   243,611       1,784       1.48 %     120,100       904       1.51 %
    Savings & MMA, excluding brokered   979,170       13,960       2.88 %     805,813       13,775       3.44 %
    Time deposits, excluding brokered   207,699       4,053       3.94 %     160,208       3,273       4.11 %
    Total deposits, excluding brokered   1,430,480       19,797       2.79 %     1,086,121       17,952       3.32 %
    Total brokered deposits   151,825       3,478       4.62 %     286,088       7,218       5.07 %
    Total Interest-Bearing Deposits   1,582,305       23,275       2.97 %     1,372,209       25,170       3.69 %
                                       
    FHLB advances   18,464       411       4.49 %     48,653       1,195       4.94 %
    Other borrowings   17,977       725       8.13 %     17,964       643       7.20 %
    Total Interest-Bearing Liabilities   1,618,746       24,411       3.04 %     1,438,826       27,008       3.77 %
                                       
    Noninterest-bearing deposits   602,126                   544,709              
    Total Funding Sources   2,220,872       24,411       2.22 %     1,983,535       27,008       2.74 %
                                       
    Noninterest-bearing liabilities   20,165                   17,176              
    Shareholders’ equity   236,517                   194,708              
                                       
    Total Liabilities and Shareholders’ Equity $ 2,477,554                 $ 2,195,419              
                                       
    Net interest income/spread       $ 57,845       4.57 %         $ 47,438       4.16 %
    Net interest margin               4.78 %                 4.40 %
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Balance Sheets
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                                 
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Assets                            
    Cash and due from banks $ 140,619     $ 218,481     $ 163,876     $ 207,174     $ 158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,189       4,124       4,097  
    Investment securities   188,821       156,346       145,238       141,100       121,725  
    Loans held for sale   8,826       2,066       3,008       2,040       –  
    Total loans held-for-investment   2,081,063       2,078,653       2,085,149       2,012,457       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (27,267 )     (26,594 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       2,057,882       1,985,863       1,953,129  
    Operating lease right of use assets   7,254       6,383       6,819       4,344       4,719  
    Premises and equipment, net   2,213       2,432       2,335       2,345       2,207  
    Other assets and interest receivable   49,992       40,736       40,664       39,383       41,430  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Liabilities and Shareholders’ Equity                            
    Liabilities                            
    Noninterest Bearing $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest Bearing   1,561,407       1,593,014       1,581,054       1,522,839       1,444,671  
    Total Deposits   2,162,880       2,192,109       2,134,459       2,107,131       2,001,726  
    Borrowings   28,972       33,970       45,969       45,967       65,965  
    Accrued interest payable and other liabilities   16,089       21,559       20,049       19,062       16,551  
    Total liabilities   2,207,941       2,247,638       2,200,477       2,172,160       2,084,242  
    Shareholders’ equity                            
    Common stock   76,398       76,156       75,377       74,688       74,636  
    Additional paid-in capital   4,009       3,712       4,393       4,271       3,717  
    Retained earnings   172,849       162,462       152,252       141,623       132,179  
    Accumulated other comprehensive (loss) income   (6,317 )     (7,095 )     (8,488 )     (6,369 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       223,534       214,213       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Book value per common share $ 42.54     $ 40.63     $ 38.76     $ 37.21     $ 35.03  
    Tangible book value per common share (1) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  

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

     
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Statements of Income
    (Unaudited)
    (Dollars in thousands, except per share amounts)
         
      For the three months ended  
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Interest income $ 41,988     $ 40,268     $ 40,430     $ 40,018     $ 38,662  
    Interest expense   11,875       12,536       13,023       14,311       13,992  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Provision for credit losses   1,293       299       17       304       2,136  
    Net interest income after provision for credit losses   28,820       27,433       27,390       25,403       22,534  
                                 
    Service charges on deposit accounts   591       557       558       504       430  
    Net gain on sale of loans   523       469       932       587       661  
    Other noninterest income   616       587       456       343       447  
    Total noninterest income   1,730       1,613       1,946       1,434       1,538  
                                 
    Compensation and employee benefits   10,319       9,748       9,539       9,422       8,836  
    Occupancy and equipment   840       844       847       818       822  
    Data processing   1,396       1,326       1,195       1,238       1,183  
    Professional services   939       508       573       252       424  
    Other expenses   2,195       1,629       2,036       1,695       1,697  
    Total noninterest expense   15,689       14,055       14,190       13,425       12,962  
                                 
    Income before provision for income taxes   14,861       14,991       15,146       13,412       11,110  
    Income taxes   4,412       4,429       4,488       3,959       3,283  
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 10,573     $ 9,373     $ 7,761  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.85     $ 1.64     $ 1.36  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.82     $ 1.63     $ 1.35  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,716,291       5,707,723       5,702,938  
    Diluted average shares outstanding   5,837,537       5,826,229       5,813,197       5,767,401       5,762,616  
                                           
      Performance Ratios
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    ROAA   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    ROAE   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    ROATCE (1)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
    Net interest margin   4.94 %     4.61 %     4.67 %     4.44 %     4.48 %
    Net interest spread   4.75 %     4.41 %     4.44 %     4.20 %     4.24 %
    Efficiency ratio (1)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
    Noninterest expense / average assets   2.53 %     2.31 %     2.39 %     2.29 %     2.32 %

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

     
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
       
      Selected Quarterly Average Balances
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total assets $ 2,487,224     $ 2,467,778     $ 2,359,950     $ 2,328,399     $ 2,241,860  
    Earning assets $ 2,443,888     $ 2,439,242     $ 2,334,999     $ 2,303,537     $ 2,216,185  
    Total loans, including loans held for sale $ 2,069,415     $ 2,078,588     $ 2,036,178     $ 1,989,748     $ 1,939,746  
    Total deposits $ 2,195,344     $ 2,173,402     $ 2,071,050     $ 2,047,197     $ 1,961,099  
    Total shareholders’ equity $ 242,235     $ 230,731     $ 219,963     $ 208,889     $ 199,088  
                                           
      Loan Balances by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Commercial Real Estate (CRE):                            
    Investor owned $ 604,073     $ 577,512     $ 572,659     $ 560,481     $ 566,314  
    Owner occupied   223,558       228,232       223,442       221,364       216,876  
    Multifamily   160,902       163,218       162,330       175,387       177,390  
    Secured by single family   197,100       200,650       198,579       190,738       181,744  
    Land and construction   51,669       70,293       62,638       68,186       58,109  
    SBA secured by real estate   407,148       402,524       401,990       395,646       388,271  
    Total CRE   1,644,450       1,642,429       1,621,638       1,611,802       1,588,704  
    Commercial business:                            
    Commercial and industrial   404,489       417,258       441,182       383,874       378,161  
    SBA non-real estate secured   30,183       17,004       20,205       15,101       10,758  
    Total commercial business   434,672       434,262       461,387       398,975       388,919  
    Consumer   1,941       1,962       2,124       1,680       2,097  
    Total loans held for investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
                                           
      Deposits by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Noninterest-bearing DDA $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest-bearing DDA, excluding brokered   251,701       257,720       251,594       182,268       156,253  
    Savings & MMA, excluding brokered   990,798       981,491       887,740       920,219       861,508  
    Time deposits, excluding brokered   227,129       210,845       201,851       186,583       168,664  
    Total deposits, excluding brokered   2,071,101       2,049,151       1,894,590       1,873,362       1,743,480  
    Total brokered deposits   91,779       142,958       239,869       233,769       258,246  
    Total deposits $ 2,162,880     $ 2,192,109     $ 2,134,459     $ 2,107,131     $ 2,001,726  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
         
      Rollforward of Allowance for Credit Losses
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Allowance for loan losses:                            
    Beginning balance $ 26,437     $ 27,267     $ 26,594     $ 26,591     $ 24,693  
    Provision for loan losses   1,741       460       673       3       1,994  
    Net (charge-offs) recoveries   –       (1,290 )     –       –       (96 )
    Ending balance   28,178       26,437       27,267       26,594       26,591  
    Reserve for unfunded commitments   899       1,348       1,509       2,165       1,865  
    Total allowance for credit losses $ 29,077     $ 27,785     $ 28,776     $ 28,759     $ 28,456  
                                           
      Asset Quality
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total loans held-for-investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
    Allowance for loan losses $ (28,178 )   $ (26,437 )   $ (27,267 )   $ (26,594 )   $ (26,591 )
    30-89 day past due loans $ 4,842     $ 2,399     $ 1,952     $ –     $ –  
    90+ day past due loans $ 2,850     $ 13,223     $ 11,512     $ 11,512     $ 2,500  
    Nonaccrual loans $ 7,716     $ 15,565     $ 11,512     $ 11,512     $ 2,500  
    Other real estate owned (OREO) $ 8,568     $ –     $ –     $ –     $ –  
    NPAs / Total assets   0.66 %     0.63 %     0.47 %     0.48 %     0.11 %
    NPLs / Total loans held-for-investment   0.37 %     0.75 %     0.55 %     0.57 %     0.13 %
    Net quarterly charge-offs (recoveries) $ –     $ 1,290     $ –     $ –     $ 96  
    Net charge-offs (recoveries) /avg loans (annualized)   0.00 %     0.25 %     0.00 %     0.00 %     0.02 %
    Allowance for loan losses to loans HFI   1.35 %     1.27 %     1.31 %     1.32 %     1.34 %
    Allowance for loan losses to nonaccrual loans   365.19 %     169.85 %     236.86 %     231.01 %     1063.64 %
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

         
      GAAP to Non-GAAP Reconciliation
      (Dollars in thousands)
                                 
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Efficiency Ratio                            
    Noninterest expense $ 15,689     $ 14,055     $ 14,190     $ 13,425     $ 12,962  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Efficiency ratio (non-GAAP)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
                                 
    Pretax pre-provision net revenue                            
    Net interest income $ 30,113     $ 27,732     $ 27,407     $ 25,707     $ 24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Less: Noninterest expense   15,689       14,055       14,190       13,425       12,962  
    Pretax pre-provision net revenue (non-GAAP) $ 16,154     $ 15,290     $ 15,163     $ 13,716     $ 13,246  
                                 
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity                            
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Average assets   2,487,224       2,467,778       2,359,950       2,328,399       2,241,860  
    Average shareholders’ equity   242,235       230,731       219,963       208,889       199,088  
    Less: Average intangible assets   1,953       2,098       2,028       2,051       2,163  
    Average tangible common equity (non-GAAP)   240,282       228,633       217,935       206,838       196,925  
                                 
    Return on average assets   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    Return on average equity   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    Return on average tangible common equity (non-GAAP)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
                                 
    Tangible book value per share                            
    Total equity   246,939       235,235       223,534       214,213       201,442  
    Less: Total intangible assets   1,964       1,993       2,087       2,006       2,164  
    Total tangible equity   244,975       233,242       221,447       212,207       199,278  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  
    Tangible book value per share (non-GAAP) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

         
      GAAP to Non-GAAP Reconciliation  
      (Dollars in thousands)  
               
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
    Efficiency Ratio          
    Noninterest expense $ 29,744     $ 25,745  
    Net interest income   57,845       47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Efficiency ratio (non-GAAP)   48.61 %     51.08 %
               
    Pretax pre-provision net revenue          
    Net interest income $ 57,845     $ 47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Less: Noninterest expense   29,744       25,745  
    Pretax pre-provision net revenue (non-GAAP) $ 31,444     $ 24,657  
               
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity          
    Net income $ 21,011     $ 15,711  
    Average assets   2,477,554       2,195,419  
    Average shareholders’ equity   236,517       194,708  
    Less: Average intangible assets   2,025       2,185  
    Average tangible common equity (non-GAAP)   234,492       192,523  
               
    Return on average assets   1.71 %     1.44 %
    Return on average equity   17.91 %     16.23 %
    Return on average tangible common equity (non-GAAP)   18.07 %     16.41 %
                   

    The MIL Network –

  • MIL-OSI: New Survey Shows Shoppers Are Showing Up This Holiday Season — Even Amid Tariffs and Turmoil

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 17, 2025 (GLOBE NEWSWIRE) — Will tariffs deter holiday shoppers this year? Not according to a new consumer holiday shopping report from Salsify, the platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf. The company released its inaugural 2025 Consumer Holiday Shopping Report today and the message is clear: even amid ongoing economic and political turbulence, shoppers are showing up this season — but they’re skipping the old playbook. From AI-curated gift guides and the digital takeover of Black Friday to the surprising rise of alcohol gifting and the decline of social media’s shopping influence, consumers are rewriting the rules of the holiday season.

    In fact, spreading good cheer seems to be on everyone’s list with 75% of consumers saying they’ll spend the same or more on gifts this year, with Gen Z and millennials leading the charge. But it’s not just about how much they spend. It’s about how, why, and where they do it.

    “Shoppers aren’t letting inflation, tariffs, or global turmoil steal their holiday spirit,” said Dom Scarlett (she/her), Research Director at Salsify. “Black Friday is thriving, but not in-store. Gift discovery is shifting from social to search, video, and even AI. And more than ever, consumers are choosing brands that reflect who they are, not just what they want.”

    Black Friday Just Swiped Cyber Monday’s Crown

    Black Friday is back, and now it’s digital. A record 73% of shoppers plan to participate this year, outpacing Cyber Monday’s 61%. Only 11% say they’ll shop Black Friday exclusively in stores, while nearly one in four will toggle between in-person and online deals. Millennials (46%) and Gen X (42%) are fueling the shift toward mobile-first shopping from the couch.

    Retailer Insight: Cyber Monday is no longer the peak. Retailers should treat Black Friday as the digital centerpiece and focus on app-based early access, flash sales, and omnichannel execution.

    AI Gift Guides Are the New Holiday Hero

    Half of all shoppers say AI tools, like chatbots and curated gift suggestions, would improve their holiday experience. Thirteen percent of millennials and 11% of Gen Z are already using AI to shop, making it more influential than blogs, podcasts, or print ads. For younger consumers, AI is more than a novelty, it’s expected.

    Sixty-three percent of millennials and 56% of Gen Z believe AI makes shopping easier and more personalized. Gen Z shoppers are also more likely to use voice assistants or chatbots for gift-finding help.

    Retailer Insight: Shoppers are asking AI what to buy. To show up in those results, brands must optimize product data for AI-powered search and recommendation engines.

    From TikTok to TV: Shoppers Are Changing the Channel

    Social media’s role in holiday discovery is fading. This year, only 28% of shoppers say it’s their go-to channel for finding gifts, down from 35% in 2024. In contrast, search engines (58%), online marketplaces (48%), and retailer websites (43%) now dominate the discovery landscape. Even traditional formats like TV and streaming video ads are resonating, influencing 12% of Gen X and 10% of millennials — outpacing blogs (7%) and podcasts (4%).

    TikTok and Instagram now rank lower than marketplace ads (38%) and email campaigns (34%) in their influence on gift discovery.

    Retailer Insight: Discovery is fragmenting. Shoppers are searching, streaming, and scrolling — but not necessarily where brands expect them to. Rebalance investments accordingly – return on retail media investments are dependent on quality product content.

    Boozy Gifts Take the Lead as Electronics Surge Stateside
    Alcohol is having a moment. This season, 36% of shoppers plan to gift beer, wine, or spirits, surpassing toys at 33%, pet products at 16%, and home improvement items at 19%. The trend is especially strong in the UK, where 46% plan to gift alcohol, compared to 25% in the U.S.

    Gen X leads the charge, followed by millennials. Domestic spirits and ready-to-drink cocktails are especially popular. With tariffs expected on imported liquor, prices may rise or availability may shrink by December.

    Fashion and apparel (54%), beauty and personal care (47%), and electronics (42%) remain among the top categories. But regional preferences stand out. U.S. shoppers are nearly twice as likely as their U.K. counterparts to gift electronics, while U.K. consumers favor food and drink.

    Retailer Insight: Booze has gone from bar cart to gift list. With global pricing pressures looming, now is the time to secure domestic supply and use creative messaging and bundling. Electronics brands should lean into U.S. demand, while U.K. retailers can win with premium food and beverage offerings.

    Shoppers Are Putting Their Money Where Their Values Are

    More than ever, shoppers are prioritizing meaning over markdowns. Sixty-one percent of consumers say they would pay more for holiday gifts from brands that reflect their values. That figure spikes to 75% for Gen Z, but the shift spans generations, even 50% of boomers say they’re willing to spend more on mission-aligned brands.

    Top value drivers include sustainability, ethical sourcing, social impact, and transparency.

    Retailer Insight: Shoppers are choosing gifts that reflect their identity. Don’t just say what you sell — show what you stand for.

    For more insights on the survey methodology and to download the full 2025 Consumer Holiday Shopping Report, visit here.

    About Salsify
    Salsify helps thousands of brand manufacturers, distributors, and retailers in over 140 countries collaborate to make every product experience matter. The company’s Product Experience Management (PXM) platform enables organizations to centralize all of their product content, connect to the commerce ecosystem, and automate business processes in order to deliver the best possible product experiences across every selling destination.

    Learn how the world’s largest brands, including Mars, L’Oreal, Coca-Cola, Bosch, and ASICS, as well as retailers and distributors, such as DoorDash, E.Leclerc, Carrefour, Metro, and Intermarché, use Salsify every day to drive efficiency, power growth, and lead the digital shelf. For more information, please visit: www.salsify.com.

    Media contact:
    Carolyn Adams
    carolyn@bluerunpr.com

    The MIL Network –

  • MIL-OSI United Nations: Programme management officer

    Source: UNISDR Disaster Risk Reduction

    Org. Setting and Reporting

    Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 140 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyzes action and increases global awareness to reduce disaster risk working with UN Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community.

    This position is located in the UNDRR Office in Bonn, Germany. The Programme Officer will report to the Head of the UNDRR Bonn Office under the overall guidance of the Chief, Risk Knowledge, Monitoring and Capacity-Development Branch.

    Responsibilities

    Within delegated authority, the incumbent will be responsible for the following duties: – 

    • Develops, implements and evaluates assigned systems programmes/projects of significant importance for the Department; monitors and analyses programme/project development and implementation; reviews relevant documents and reports; identifies problems and issues to be addressed and initiates corrective actions; liaises with relevant parties; ensures follow-up actions. In particular, oversees and supports the management and updating of the online monitoring system to track progress in the implementation of the Sendai Framework for Disaster Risk Reduction. Tracks and monitors project progress against plan, requirements, quality measures, standard processes; liaises with users on all aspects and during all phases.
    • Provides expert advice on complex systems analysis and design; identifies the need for new systems (or modifications to existing systems) or responds to requests from users; develops plans for feasibility assessment, requirements specification, design, development and implementation, including project plans, schedules, time and cost estimates, metrics and performance measures. –
    • Provides expert advice and coordinates the roll-out of the Disaster Tracking System in all Member States, liaising with the concerned regional offices. Keeps abreast of developments in the field and determines the need for testing and evaluating new products and technologies. –
    • Leads and coordinates the official reporting on Sendai Framework and SDGs, among others, and organizes and prepares written outputs, e.g. draft background papers, analysis, sections of reports and studies, inputs to publications, technical reports, including advance analytics using AI-based tools.
    • Develops, implements and monitors application of standards and guidelines. Oversees the preparation of technical and user documentation for systems; prepares training materials and detailed technical presentations including technical guidelines to support the reporting against the indicators to assess progress towards the targets of Sendai Framework, as recommended by the open-ended intergovernmental expert working group on indicators and terminology. Works in close collaboration with the UNDRR Global Education and Training Institute (GETI) in Incheon and contributes to the development of training modules on Sendai Framework Monitoring Process. Collaborates and coordinates closely with UNDRR Regional Offices in support of strengthening the capacity of Member States to use the online Sendai Framework Monitoring system and their ability to report against the indicators. –
    • Provides substantive backstopping to consultative and other meetings, conferences, etc., to include proposing agenda topics, identifying participants, preparation of documents and presentations, etc. –
    • Participates in planning and preparation of the budget, work program and spending plan of the Section and of the Branch. Contributes to activities related to budget funding (programme/project preparation and submissions, progress reports, financial statements, etc.) and prepares related documents/reports (pledging, work programme, programme budget, etc.). Develops cost proposals for contractual services, oversees the technical evaluation of proposals received and manages the contract service. Provides professional leadership and work direction to assigned project team, and/or mentor and supervises the work of new/junior officers, contract staff, etc. – Performs other duties as required.

    Competencies

    Professionalism: Knowledge and understanding of theories, concepts and approaches relevant to particular sector, functional area or other specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently. 

    Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable. 

    Client Orientation: Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view; establishes and maintains productive partnerships with clients by gaining their trust and respect; identifies clients’ needs and matches them to appropriate solutions; monitors ongoing developments inside and outside the clients’ environment to keep informed and anticipate problems; keeps clients informed of progress or setbacks in projects; meets timeline for delivery of products or services to client.

    Education

    An advanced university degree (Master’s degree or equivalent degree) in social sciences, management, economics, statistics or a related field is required. A first-level degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

    Work experience

    • A minimum of seven years of progressively responsible experience in project planning, implementation and monitoring or a related area is required.
    • Experience in disaster risk assessment and monitoring, and disaster risk reduction is required.
    • Experience in data management and statistics is desirable.

    Languages

    English and French are the working languages of the United Nations Secretariat. For the position advertised, fluency in English is required. Knowledge of French is desirable. Knowledge of another UN official language is desirable.

    Assessment

    Evaluation of qualified candidates may include an assessment exercise which will be followed by a competency-based interview.

    Special notice

    The appointment or assignment and renewal thereof are subject to the availability of the post or funds, budgetary approval or extension of the mandate. At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered.

    United Nations Considerations

    According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General. Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

    No Fee

    THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

    MIL OSI United Nations News –