Farming – Page 8 – NewzIntel.com

MIL-OSI USA: Ricketts Introduces the Streamlining Rural Housing Act

US Senate News:

Source: United States Senator Pete Ricketts (Nebraska)

WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE), along with Senators Jerry Moran (R-KS), Jeanne Shaheen (D-NH), and Ruben Gallego (D-AZ), introduced the Streamlining Rural Housing Act. The bill directs the U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of Agriculture (USDA) to establish a memorandum of understanding to evaluate the feasibility of joint environmental review and inspection processes. By streamlining the review and inspection processes between HUD and USDA, this bill would make rural housing development more efficient for home builders, affordable housing non-profits, and state housing finance agencies.

“Duplicative red tape and burdensome regulations create additional costs and deter much-needed investments in rural affordable housing,” said Ricketts. “The Streamlining Rural Housing Act is the first step to enhance efficiency and eliminate conflicting requirements that delay approvals so that we can build more housing in rural Nebraska. When I was Governor of Nebraska, our state created a rural workforce housing fund to help administer support to communities for rural housing needs, like construction costs, down payment assistance, and technical assistance.”

“Across Kansas, the demand for rural housing has been on the rise, and it’s important that we find innovative solutions to address this issue,” said Moran. “Streamlining rural housing regulations between HUD and USDA will simplify the regulatory process for developers, allowing them to more efficiently address the growing housing needs in Kansas and across the country.”

“To address the shortage of quality, affordable housing in rural areas, federal regulations need to work for communities rather than against them,” said Senator Shaheen. “I’m glad to join my colleagues in introducing bipartisan legislation that would improve and streamline environmental reviews and housing unit inspections so that we can build more homes and lower costs where it’s needed most.”

“Americans are facing an affordable housing crisis. We need to build more housing and build it fast to bring down costs and get more people into homes,” said Gallego. “Government should be part of the solution, but right now it’s part of the problem. By reducing red tape and streamlining redundant processes, this bipartisan bill will accelerate construction, lower costs, and get more desperately needed homes on the market.”

The Streamlining Rural Housing Act would direct the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) to:

Create a Memorandum of Understanding (MOU) to evaluate categorical exclusion under the environmental review process for housing projects that use combined funding;
Create an MOU to develop a process for designating a lead agency.
- This process will streamline adoption of Environmental Impact Statements and Environment Assessments approved by the other Department to construct housing projects funded by both agencies;
Create an MOU to evaluate the feasibility of a joint inspection process for housing projects that use combined funding;
Establish an advisory working group to consult on the MOUs consisting of:
- Affordable housing non-profits;
- State housing and housing finance agencies;
- Non-profit and for-profit home builders and housing developers;
- Property management companies;
- Owners of multifamily properties;
- Public housing agencies;
- Residents in housing assisted by HUD and USDA;
- Housing contract administrators.

“The Council for Affordable and Rural Housing (CARH) applauds the efforts of Senators Moran, Ricketts, Shaheen, and Gallego in introducing this important legislation which will help streamline program requirements at the Department of Housing and Urban Development (HUD) and the United States Department of Agriculture’s Rural Development (RD) programs,” said Colleen Fisher, Executive Director of the Council for Affordable and Rural Housing (CARH). “Many times when housing developers and owners are operating a property here is a need to have multiple sources of funding so that the property can cash flow and rents are at levels that low-income residents can afford. When this occurs, the agencies require separate if not identical inspections, somewhat negating the purpose of having the multiple layers of funding, thus increasing regulatory costs. By requiring one inspection, operating costs will be reduced or redirected toward services on properties. The approach envisioned in the bill has been supported by several different Administrations, with the goal of reducing regulatory burdens and improving the delivery of affordable housing programs.”

BACKGROUND

Often, when a housing project draws federal funding from Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) Rural Development, one has to follow separate processes for environmental review and housing inspections for both agencies. This can incur more costs, lead to delays in project completion, and present challenges in getting over excessive bureaucratic procedures. This is burdensome especially at a time when housing needs in rural America are growing and existing housing supply is aging. Memoranda of Understanding (MOUs) are an effective way to address duplicative compliance requirements and regulatory misalignment across different federal, state, and local agencies.

Full text of the legislation can be found here.

MIL OSI USA News –

July 25, 2025

MIL-Evening Report: Butter wars: ‘nothing cures high prices like high prices’ – but will market forces be enough?

Source: The Conversation (Au and NZ) – By Alan Renwick, Professor of Agricultural Economics, Lincoln University, New Zealand

RobynRoper/Getty Images

The alarming rise of butter prices has become a real source of frustration for New Zealand consumers, as well as a topic of political recrimination. The issue has become so serious that Miles Hurrell, chief executive of dairy co-operative Fonterra, was summoned to meetings with the government and opposition parties this week.

After meeting Hurrell, Finance Minister Nicola Willis appeared to place some of the blame for the high price of butter on supermarkets rather than on the dairy giant.

According to Stats NZ, butter prices rose by 46.5% in the year to June and are now 120% higher than a decade ago. The average price for a 500g block is NZ$8.60, with some local brands costing over $10.

But solving the problem is not a matter of waving a magic economic wand. Several factors influence butter prices, few of which can be altered directly by government policy.

And the question remains – would we want to? Proposals such as reducing exports to boost domestic supply, or cutting goods and services tax (GST) on dairy products, all carry consequences.

A key factor driving butter prices in New Zealand is that 95% of the country’s dairy production is exported.

Limited domestic supply and strong global demand have pushed up prices for a range of commodities – not just milk, but beef as well. These increases are reflected in local retail prices.

Another contributing factor is rising costs along the supply chain. At the farm level, producers are receiving record prices for dairy. But this comes at a time when input costs have also increased significantly. It is not all profit.

Weighing the options

Before changing rules around dairy exports, the government must weigh the broader consequences.

On the one hand, high milk prices benefit “NZ Inc”. The dairy sector accounts for 25% of exports and employs 55,000 New Zealanders. When farmers do well, the wider rural economy benefits – with flow-on effects for the country as a whole.

On the other hand, there is the ongoing challenge of domestic food security. Many people cannot afford basic groceries and foodbank use is rising.

So how can New Zealand maintain a food system that benefits from exports while also supporting struggling domestic consumers?

One option is to remove GST from food. Other countries exempt dairy products from such taxes in an effort to make staples more affordable.

This idea has been repeatedly reviewed and rejected – including by the 2018 Tax Working Group. In 2024, it was estimated that removing GST could cost the government between $3.3bn and $3.9bn, with only modest benefits for the average household.

Fonterra or supermarkets?

Another route would be to examine Fonterra’s dominance in the supply chain. There are advantages to having a strong global player. And it is not in the national interest for the company to incur losses on domestic sales.

Still, the structure of the market may warrant scrutiny. For a long time there were just two main suppliers of processed dairy products – Fonterra and Goodman Fielder – and two main retailers – Foodstuffs and Woolworths. This set up reduced the need to compete on prices.

While there is arguably more competition in manufacturing sector now, supermarkets are still under scrutiny and have long faced criticism for a lack of competition.

The opaque nature of the profit margins across the supply chain also fuels suspicion. Consumers know what they pay at the checkout and what farmers receive. But the rest is less clear. This lack of transparency invites speculation about who benefits from soaring prices.

In the end, though, the government may not need to act at all.

As economists like to say: “Nothing cures high prices like high prices.” While demand for butter is relatively inelastic, there comes a point at which consumers reduce their purchases or seek alternatives. International buyers will also push back – and falling global demand may redirect more supply to domestic markets.

High prices also act as a signal to producers across the globe to increase production, which could happen relatively quickly if there are favourable climatic and other conditions.

We only need to look back to 2014, when the price of dairy dropped by 48% over the course of 12 months due to reduced demand and increased supply, to see how quickly the situation can change.

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

– ref. Butter wars: ‘nothing cures high prices like high prices’ – but will market forces be enough? – https://theconversation.com/butter-wars-nothing-cures-high-prices-like-high-prices-but-will-market-forces-be-enough-261750

MIL OSI Analysis – EveningReport.nz –

July 25, 2025

MIL-OSI USA: Under Cantwell Pressure, Admin Releases Critical Wildfire Funds

US Senate News:

Source: United States Senator for Washington Maria Cantwell

07.24.25

Under Cantwell Pressure, Admin Releases Critical Wildfire Funds

Trump’s Office of Management and Budget had been withholding $20 million already allocated to WA state to prepare for and respond to wildfires

WASHINGTON, D.C. — The federal Office of Management and Budget (OMB) has approved the Spend Plan for the over $280 million in overdue FY 2025 U.S. Forest Service State, Private and Tribal Forestry (SPTF) funding, including approximately $20 million for the Washington State Department of Natural Resources to use for firefighting training and equipment, forest management, and landscape restoration.

“The State of Washington is in the middle of an active and dangerous wildfire season. After questioning the Chief of the Forest Service and the Secretary of Agriculture, I am pleased that Washington — and all states — are finally receiving the funding they need to prepare for and respond to wildfires this summer and in the future,” said U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Committee on Energy and Natural Resources.

“Thank you, Senator Cantwell, for your leadership in securing the release of fiscal year (FY) 2025 Forest Service funding for the State, Private, and Tribal Forestry programs,” said George Geissler, State Forester for Washington. “This critical funding was at risk of being included in a recission by the Trump Administration, but because of your efforts will now be put to work in support of forest health protection, private forest landowners, urban and community forests, and wildfire preparedness and response efforts across the State of Washington. On behalf of the Washington State Department of Natural Resources (DNR), we thank you for your tireless advocacy in support of our work.”

SPTF funding is typically released to states months prior to the start of wildfire season to be used to train and equip state, local, and volunteer emergency responders and firefighters. This includes funding for fire academies, personal protection equipment, fire pumps, hoses, nozzles, and other safety gear. Delays risked the funding being rescinded by the Trump Administration and could degrade state and local efforts to prepare for and respond to wildfires this summer and in the future.

On July 10, Sen. Cantwell questioned U.S. Forest Service Chief Tom Schultz about why the Trump Administration was withholding the SPTF funding.

“It’s a budget that’s already been approved. So why aren’t we releasing the funds that go to the community so that they can best prepare for this fire season?” Sen. Cantwell asked during the July 10 Energy and Natural Resources Committee hearing.

“We have not made a determination yet, but that’s something that is being evaluated,” Schultz responded. “We can’t commit that that’s for sure going to go out yet.”

Video of Sen. Cantwell’s questioning of Schultz is HERE; a transcript is HERE.

On July 16, Sen. Cantwell participated in a virtual briefing hosted by U.S. Secretary of Agriculture Brooke Rollins outlining the current wildfire situation and outlook across the western United States. During the briefing, she questioned Rollins on why OMB continued to withhold $280 million in SPTF funds.

Nationally, state, local, and volunteer fire departments respond to roughly 80% of all wildfires each year. Last year DNR, along with local first responders, successfully kept over 93% of fires in Washington state at 10 acres or less. Funds from the SPTF can also be used for hazardous fuels work on non-federal land in the wildland urban interface (WUI), to recover land that has been burned, and for forest health management.

The National Interagency Fire Center outlook predicts high wildfire risk across the entirety of Washington state from July through September 2025, and a high risk in Eastern and Central Washington in October. Six wildfires are currently burning in the state, and as of July 22, more than 37,000 acres have burned in the State of Washington this year.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Shaheen Helps Introduce Bipartisan Legislation to Streamline Housing Regulations, Increase Supply of Affordable Housing in Rural Communities

US Senate News:

Source: United States Senator for New Hampshire Jeanne Shaheen

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) joined Senators Jerry Moran (R-KS), Pete Ricketts (R-NE) and Ruben Gallego (D-AZ) in introducing bipartisan legislation to streamline rural housing regulations between the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture (USDA) by requiring the two agencies to enter into a memorandum of understanding (MOU) to align housing standards. The Streamlining Rural Housing Act would simplify the process to build housing, lowering the cost and shortening project timelines for developers.

“To address the shortage of quality, affordable housing in rural areas, federal regulations need to work for communities rather than against them,” said Senator Shaheen. “I’m glad to join my colleagues in introducing bipartisan legislation that would improve and streamline environmental reviews and housing unit inspections so that we can build more homes and lower costs where it’s needed most.”

“The Council for Affordable and Rural Housing (CARH) applauds the efforts of Senators Moran, Ricketts, Shaheen, and Gallego in introducing this important legislation which will help streamline program requirements at the Department of Housing and Urban Development (HUD) and the United States Department of Agriculture’s Rural Development (RD) programs,” said Colleen Fisher, Executive Director of CARH. “Many times when housing developers and owners are operating a property here is a need to have multiple sources of funding so that the property can cash flow and rents are at levels that low-income residents can afford. When this occurs, the agencies require separate if not identical inspections, somewhat negating the purpose of having the multiple layers of funding, thus increasing regulatory costs. By requiring one inspection, operating costs will be reduced or redirected toward services on properties. The approach envisioned in the bill has been supported by several different Administrations, with the goal of reducing regulatory burdens and improving the delivery of affordable housing programs.”

Specifically, the Streamlining Rural Housing Act would:

Require HUD and USDA to enter into a memorandum of understanding to align housing standards.
Require the creation of an advisory group to consult with the agencies on the MOU’s implementation. This group would include rural affordable housing nonprofit organizations, state housing agencies, home builders, property management companies, multifamily property owners and housing contract administrators.
Require HUD and USDA to report to the appropriate committees on recommendations for legislative, regulatory or administrative actions to improve the efficiency and effectiveness of combined funding housing projects.

The full text of the legislation can be found here.

As a senior member of the U.S. Senate Appropriations Committee and Ranking Member of the Agriculture, Rural Development, Food and Drug Administration and Related Agencies (Ag-FDA) Subcommittee, Shaheen has continually worked to ensure rural communities have the federal funding needed to tackle the housing affordability crisis. In the Fiscal Year (FY) 2026 Ag-FDA Appropriations bill, Shaheen fought to fully fund the Rental Assistance program so that participating families can remain housed, provides funding to preserve the existing affordable housing portfolio and makes $1 billion in financing available for very low-income homebuyers, many of whom are first-time homeowners. In the FY24 Ag-FDA bill, Shaheen two Shaheen-led provisions were signed into law to help to preserve existing rural housing, build new housing in rural areas and protect low-income renters in rural areas from losing their homes.

MIL OSI USA News –

July 25, 2025

MIL-OSI: Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended June 30, 2025

Source: GlobeNewswire (MIL-OSI)

2nd Quarter 2025 Highlights:

Including the $19.9 million expenses related to the current quarter acquisition, diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39 per share.
Net income was $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent, from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the prior year second quarter net income of $44.7 million.
Net interest income was $208 million for the current quarter, an increase of $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and an increase of $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million.
The loan portfolio of $18.533 billion increased $1.314 billion, or 8 percent, during the current quarter and organically increased $239 million, or 6 percent annualized, during the current quarter.
Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter.
Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter.
Total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 percent and an increase of 53 basis points from the prior year second quarter net interest margin of 2.68 percent.
The loan yield of 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent.
The total earning asset yield of 4.73 percent in the current quarter increased 12 basis points from the prior quarter earning asset yield of 4.61 percent and increased 36 basis points from the prior year second quarter earning asset yield of 4.37 percent.
The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis point from the prior quarter total cost of funding of 1.68 percent and decreased 17 basis points form the prior year second quarter total cost of funding of 1.80 percent.
The Company declared a quarterly dividend of $0.33 per share. The Company has declared 161 consecutive quarterly dividends and has increased the dividend 49 times.
The Company completed the acquisition of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”) which had total assets of $1.4 billion as of April 30, 2025. This was the Company’s 26th bank acquisition since 2000 and its 12th transaction in the past 10 years.
The Company announced the signing of a definitive agreement to acquire Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”) which had total assets of $3.1 billion as of June 30, 2025. This acquisition will expand the Company’s southwest presence and be the first entrance into the state of Texas.

First Half 2025 Highlights

Diluted earnings per share for the first half of 2025 was $0.93 per share, an increase of 37 percent from the prior year first half diluted earnings per share of $0.68 per share.
Net income for the first half of 2025 was $107 million, an increase of $30.0 million, or 39 percent, from the prior year first half net income of $77.3 million.
Net interest income was $398 million for the first half of the current year, an increase of $64.6 million, or 19 percent, from the prior year net interest income of $333 million.
The loan portfolio increased $1.271 billion, or 7 percent, during the first half of 2025 and organically increased $196 million, or 2 percent, during the first half of 2025.
Total deposits increased $1.527 billion, or 8 percent, from the prior year second quarter.
Total deposits and repurchase agreements organically increased $202 million, or 1 percent, from the prior year second quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first half of 2025 was 3.12 percent, an increase of 48 basis points from the prior year first half net interest margin of 2.64 percent.
Dividends declared in the first half of 2025 were $0.66 per share.

Financial Summary

	At or for the Three Months ended							At or for the Six Months ended
(Dollars in thousands, except per share and market data)	Jun 30, 2025			Mar 31, 2025		Jun 30, 2024		Jun 30, 2025		Jun 30, 2024
Operating results
Net income	$	52,781		54,568		44,708		107,349		77,335
Basic earnings per share	$	0.45		0.48		0.39		0.93		0.68
Diluted earnings per share	$	0.45		0.48		0.39		0.93		0.68
Dividends declared per share	$	0.33		0.33		0.33		0.66		0.66
Market value per share
Closing	$	43.08		44.22		37.32		43.08		37.32
High	$	44.70		52.81		40.18		52.81		42.75
Low	$	36.76		43.18		34.35		36.76		34.35
Selected ratios and other data
Number of common stock shares outstanding		118,550,475		113,517,944		113,394,092		118,550,475		113,394,092
Average outstanding shares – basic		116,890,776		113,451,199		113,390,539		115,180,489		112,941,341
Average outstanding shares – diluted		116,918,290		113,546,365		113,405,491		115,244,550		112,981,531
Return on average assets (annualized)		0.74	%	0.80	%	0.66	%	0.77	%	0.56	%
Return on average equity (annualized)		6.13	%	6.77	%	5.77	%	6.44	%	5.01	%
Efficiency ratio		62.08	%	65.49	%	67.97	%	63.72	%	71.17	%
Loan to deposit ratio		85.91	%	83.64	%	84.03	%	85.91	%	84.03	%
Number of full time equivalent employees		3,665		3,457		3,399		3,665		3,399
Number of locations		247		227		231		247		231
Number of ATMs		300		286		286		300		286

KALISPELL, Mont., July 24, 2025 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the $44.7 million of net income for the prior year second quarter. Diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39. The current quarter included $3.2 million in acquisition-related expenses and $16.7 million of credit loss expense from the acquisition of BOID. “We continue to be very pleased with the long-term positive momentum that we see in the results this quarter. Net interest income continues to grow, net interest margin growth was very strong and disciplined cost control was evident,” said Randy Chesler, President and Chief Executive Officer. “In addition, we had a busy quarter closing the Bank of Idaho transaction and also announcing the expansion of our southwest region with the planned acquisition of Guaranty Bank & Trust in Texas.”

On April 30, 2025, the Company completed the acquisition of BOID, which had 15 branches across eastern Idaho, Boise and eastern Washington. Upon the core system conversion, the BOID operations will join three existing Glacier Bank divisions. The Eastern Idaho operations of Bank of Idaho will join Citizens Community Bank, the Boise operations will join Mountain West Bank and the Eastern Washington operations will join Wheatland Bank. The Company’s results of operations and financial condition include the BOID acquisition beginning on the acquisition date.
The following table discloses the preliminary fair value estimates of select classifications of assets and liabilities acquired:

	BOID
(Dollars in thousands)	April 30, 2025
Total assets	$	1,369,764
Cash and cash equivalents		26,127
Debt securities		139,974
Loans receivable		1,075,232
Non-interest bearing deposits		271,385
Interest bearing deposits		806,992
Borrowings and subordinated debt		71,932
Core deposit intangible		19,758
Goodwill		75,207

On June 24, 2025, the Company announced the signing of a definitive agreement to acquire Guaranty, a leading community bank headquartered in Mount Pleasant, Texas. As of June 30, 2025, Guaranty had total assets of $3.1 billion, total gross loans of $2.1 billion and total deposits of $2.7 billion. Upon closing of the transaction, Guaranty will operate as a new banking division under the name “Guaranty Bank & Trust, Division of Glacier Bank,” representing the Company’s 18th separate bank division. The acquisition is subject to regulatory approvals, approval of Guaranty’s shareholders and other customary conditions of closing and is expected to be completed in the fourth quarter of 2025.

Asset Summary

										$ Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Cash and cash equivalents	$	915,507		981,485		848,408		800,779		(65,978	)	67,099		114,728
Debt securities, available-for-sale		4,024,980		4,172,312		4,245,205		4,499,541		(147,332	)	(220,225	)	(474,561	)
Debt securities, held-to-maturity		3,206,133		3,261,575		3,294,847		3,400,403		(55,442	)	(88,714	)	(194,270	)
Total debt securities		7,231,113		7,433,887		7,540,052		7,899,944		(202,774	)	(308,939	)	(668,831	)
Loans receivable
Residential real estate		1,931,554		1,850,079		1,858,929		1,771,528		81,475		72,625		160,026
Commercial real estate		11,935,109		10,952,809		10,963,713		10,713,964		982,300		971,396		1,221,145
Other commercial		3,303,889		3,121,477		3,119,535		3,066,028		182,412		184,354		237,861
Home equity		975,429		920,132		930,994		905,884		55,297		44,435		69,545
Other consumer		386,759		374,021		388,678		394,587		12,738		(1,919	)	(7,828	)
Loans receivable		18,532,740		17,218,518		17,261,849		16,851,991		1,314,222		1,270,891		1,680,749
Allowance for credit losses		(226,799	)	(210,400	)	(206,041	)	(200,955	)	(16,399	)	(20,758	)	(25,844	)
Loans receivable, net		18,305,941		17,008,118		17,055,808		16,651,036		1,297,823		1,250,133		1,654,905
Other assets		2,557,546		2,435,389		2,458,719		2,453,581		122,157		98,827		103,965
Total assets	$	29,010,107		27,858,879		27,902,987		27,805,340		1,151,228		1,107,120		1,204,767

The Company continues to maintain a strong cash position of $916 million at June 30, 2025 which was a decrease of $66 million over the prior quarter and an increase of $115 million over the prior year second quarter. Total debt securities of $7.231 billion at June 30, 2025 decreased $203 million, or 3 percent, during the current quarter and decreased $669 million, or 8 percent, from the prior year second quarter. Debt securities represented 25 percent of total assets at June 30, 2025 compared to 27 percent at March 31, 2025 and 28 percent at June 30, 2024.

The loan portfolio of $18.533 billion at June 30, 2025 increased $1.314 billion, or 8 percent, during the current quarter and increased $1.681 billion, or 10 percent, from the prior year second quarter. Excluding the BOID acquisition, the loan portfolio organically increased $239 million, or 6 percent annualized, during the current quarter. Excluding the BOID acquisition, the loan category with the largest dollar increase during the current quarter was commercial real estate which increased $250 million, or 2 percent over the prior quarter. Excluding the BOID acquisition and the Rocky Mountain Bank (“RMB”) acquisition on July 19, 2024, the loan portfolio organically increased $334 million, or 2 percent, since the prior year second quarter. Excluding the acquisitions, the loan category with the largest dollar increase in the last twelve months was commercial real estate which increased $368 million, or 3 percent over the prior quarter.

Credit Quality Summary

	At or for the Six Months ended			At or for the Three Months ended		At or for the Year ended		At or for the Six Months ended
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Allowance for credit losses
Balance at beginning of period	$	206,041		206,041		192,757		192,757
Acquisitions		35		—		3		3
Provision for credit losses		24,163		6,154		27,179		14,157
Charge-offs		(7,236	)	(3,897	)	(18,626	)	(8,430	)
Recoveries		3,796		2,102		4,728		2,468
Balance at end of period	$	226,799		210,400		206,041		200,955
Provision for credit losses
Loan portfolio	$	24,163		6,154		27,179		14,157
Unfunded loan commitments		3,918		1,660		1,127		(2,390	)
Total provision for credit losses	$	28,081		7,814		28,306		11,767
Other real estate owned	$	1,737		1,085		1,085		432
Other foreclosed assets		142		68		79		198
Accruing loans 90 days or more past due		11,371		5,289		6,177		4,692
Non-accrual loans		35,356		32,896		20,445		12,686
Total non-performing assets	$	48,606		39,338		27,786		18,008
Non-performing assets as a percentage of subsidiary assets		0.17	%	0.14	%	0.10	%	0.06	%
Allowance for credit losses as a percentage of non-performing loans		485	%	551	%	774	%	1,116	%
Allowance for credit losses as a percentage of total loans		1.22	%	1.22	%	1.19	%	1.19	%
Net charge-offs as a percentage of total loans		0.02	%	0.01	%	0.08	%	0.04	%
Accruing loans 30-89 days past due	$	54,403		46,458		32,228		49,678
U.S. government guarantees included in non-performing assets	$	2,651		685		748		1,228

Non-performing assets as a percentage of subsidiary assets at June 30, 2025 was 0.17 percent compared to 0.14 percent in the prior quarter and 0.06 percent in the prior year second quarter. Non-performing assets of $48.6 million at June 30, 2025 increased $9.3 million, or 24 percent, over the prior quarter and increased $30.6 million, or 170 percent, over the prior year second quarter.

Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at June 30, 2025 were 0.28 percent compared to 0.27 percent for the prior quarter end and 0.29 percent for the prior year second quarter. Early stage delinquencies of $54.4 million at June 30, 2025 increased $7.9 million from the prior quarter and decreased $4.7 million from prior year second quarter.

The current quarter provision for credit loss expense of $20.3 million included $14.6 million of credit loss expense on loans and $2.1 million of credit loss expense on unfunded loan commitments from the acquisition of BOID. Excluding the acquisition of BOID, the current quarter credit loss expense was $3.6 million, including $3.4 million of credit loss expense on loans and $159 thousand of credit loss expense on unfunded commitments.

The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.22 percent at June 30, 2025 and March 31, 2025 compared to 1.19 percent at June 30, 2024. Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts, actual results, and other environmental factors will continue to determine the level of the provision for credit losses for loans.

Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio

(Dollars in thousands)	Provision for Credit Losses Loans		Net Charge-Offs		ACL as a Percent of Loans		Accruing Loans 30-89 Days Past Due as a Percent of Loans		Non-Performing Assets to Total Subsidiary Assets
Second quarter 2025	$	18,009	$	1,645	1.22	%	0.29	%	0.17	%
First quarter 2025		6,154		1,795	1.22	%	0.27	%	0.14	%
Fourth quarter 2024		6,041		5,170	1.19	%	0.19	%	0.10	%
Third quarter 2024		6,981		2,766	1.19	%	0.33	%	0.10	%
Second quarter 2024		5,066		2,890	1.19	%	0.29	%	0.06	%
First quarter 2024		9,091		3,072	1.19	%	0.37	%	0.09	%
Fourth quarter 2023		4,181		3,695	1.19	%	0.31	%	0.09	%
Third quarter 2023		5,095		2,209	1.19	%	0.09	%	0.15	%

Net charge-offs for the current quarter were $1.6 million compared to $1.8 million in the prior quarter and $2.9 million for the prior year second quarter. The current quarter net charge-offs included $1.5 million in deposit overdraft net charge-offs and $111 thousand of net loan charge-offs.

Supplemental information regarding credit quality and identification of the Company’s loan portfolio based on the regulatory classification of loans is provided in the exhibits at the end of this press release. The regulatory classification of loans is based primarily on collateral type while the Company’s loan segments presented herein are based on the purpose of the loan.

Liability Summary

						$ Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Dec 31, 2024	Jun 30, 2024	Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Deposits
Non-interest bearing deposits	$	6,593,728	6,100,548	6,136,709	6,093,430	493,180		457,019		500,298
NOW and DDA accounts		5,747,388	5,676,177	5,543,512	5,219,838	71,211		203,876		527,550
Savings accounts		2,956,387	2,896,378	2,845,124	2,862,034	60,009		111,263		94,353
Money market deposit accounts		3,089,115	2,816,874	2,878,213	2,858,850	272,241		210,902		230,265
Certificate accounts		3,238,576	3,140,333	3,139,821	3,064,613	98,243		98,755		173,963
Core deposits, total		21,625,194	20,630,310	20,543,379	20,098,765	994,884		1,081,815		1,526,429
Wholesale deposits		3,308	3,740	3,615	2,994	(432	)	(307	)	314
Deposits, total		21,628,502	20,634,050	20,546,994	20,101,759	994,452		1,081,508		1,526,743
Repurchase agreements		1,976,228	1,849,070	1,777,475	1,629,504	127,158		198,753		346,724
Deposits and repurchase agreements, total		23,604,730	22,483,120	22,324,469	21,731,263	1,121,610		1,280,261		1,873,467
Federal Home Loan Bank advances		1,255,088	1,520,000	1,800,000	2,350,000	(264,912	)	(544,912	)	(1,094,912	)
Other borrowed funds		81,771	82,443	83,341	88,149	(672	)	(1,570	)	(6,378	)
Subordinated debentures		157,127	133,145	133,105	133,024	23,982		24,022		24,103
Other liabilities		374,003	352,563	338,218	365,459	21,440		35,785		8,544
Total liabilities	$	25,472,719	24,571,271	24,679,133	24,667,895	901,448		793,586		804,824

Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter and increased $1.527 billion, or 8 percent, from the prior year second quarter. Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter. Total repurchase agreements of $1.976 billion at June 30, 2025 increased $127 million, or 7 percent, from the prior quarter and increased $347 million, or 21 percent, from the prior year second quarter. Excluding acquisitions, total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter and increased $394 million, or 2 percent, from the prior year second quarter. Non-interest bearing deposits represented 30 percent of total deposits at each of June 30, 2025, December 31, 2024 and June 30, 2024.

Subordinated debentures of $157 million, increased $24.0 million, or 18 percent, during the current quarter as a result of the acquisition of BOID. Federal Home Loan Bank (“FHLB”) advances of $1.255 billion decreased $265 million, or 17 percent, from the prior quarter and decreased $1.095 billion, or 47 percent, from the prior year second quarter.

Stockholders’ Equity Summary

										$ Change from
(Dollars in thousands, except per share data)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Common equity	$	3,776,043		3,550,719		3,533,150		3,492,096		225,324		242,893		283,947
Accumulated other comprehensive loss		(238,655	)	(263,111	)	(309,296	)	(354,651	)	24,456		70,641		115,996
Total stockholders’ equity		3,537,388		3,287,608		3,223,854		3,137,445		249,780		313,534		399,943
Goodwill and intangibles, net		(1,191,474	)	(1,099,229	)	(1,102,500	)	(1,066,790	)	(92,245	)	(88,974	)	(124,684	)
Tangible stockholders’ equity	$	2,345,914		2,188,379		2,121,354		2,070,655		157,535		224,560		275,259
Stockholders’ equity to total assets		12.19	%	11.80	%	11.55	%	11.28	%
Tangible stockholders’ equity to total tangible assets		8.43	%	8.18	%	7.92	%	7.74	%
Book value per common share	$	29.84		28.96		28.43		27.67		0.88		1.41		2.17
Tangible book value per common share	$	19.79		19.28		18.71		18.26		0.51		1.08		1.53

Tangible stockholders’ equity of $2.346 billion at June 30, 2025 increased $158 million, or 7 percent, compared to the prior quarter and was primarily due to $205 million of Company stock issued in connection with the acquisition of BOID. The increase was partially offset by the increase in goodwill and core deposits associated with the BOID acquisition. Tangible book value per common share of $19.79 at the current quarter end increased $0.51 per share, or 3 percent, from the prior quarter and increased $1.53 per share, or 8 percent, from the prior year second quarter.

Cash Dividends
On June 24, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable July 17, 2025 to shareholders of record on July 8, 2025. The dividend was the Company’s 161st consecutive regular dividend. Future cash dividends will depend on a variety of factors, including net income, capital, asset quality, general economic conditions and regulatory considerations.

Operating Results for Three Months Ended June 30, 2025
Compared to March 31, 2025, and June 30, 2024

Income Summary

	Three Months ended							$ Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Jun 30, 2024		Mar 31, 2025		Jun 30, 2024
Net interest income
Interest income	$	308,115		289,925		273,834		18,190		34,281
Interest expense		100,499		99,946		107,356		553		(6,857	)
Total net interest income		207,616		189,979		166,478		17,637		41,138
Non-interest income
Service charges and other fees		20,405		18,818		19,422		1,587		983
Miscellaneous loan fees and charges		5,067		4,664		4,821		403		246
Gain on sale of loans		4,273		4,311		4,669		(38	)	(396	)
Loss on sale of securities		—		—		(12	)	—		12
Other income		3,199		4,849		3,304		(1,650	)	(105	)
Total non-interest income		32,944		32,642		32,204		302		740
Total income	$	240,560		222,621		198,682		17,939		41,878
Net interest margin (tax-equivalent)		3.21	%	3.04	%	2.68	%

Net Interest Income
Net interest income of $208 million for the current quarter increased $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and increased $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million. The current quarter interest income of $308 million increased $18.2 million, or 6 percent, over the prior quarter and increased $34.3 million, or 13 percent, over the prior year second quarter, both increases primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent.

The current quarter interest expense of $100 million increased $553 thousand or 55 basis points, over the prior quarter and was primarily attributable to an increase in average deposit balances. The current quarter interest expense decreased $6.9 million, or 6 percent, over the prior year second quarter and was primarily the result of lower average wholesale borrowings and a decrease in deposit costs. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for both the current and prior quarters compared to 1.36 percent in the prior year second quarter. The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis points from the prior quarter and decreased 17 basis points from the prior year second quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 percent and was primarily driven by an increase in loan yields and a decrease in total cost of funding. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was an increase of 53 basis points from the prior year second quarter net interest margin of 2.68 percent and was also primarily driven by the increase in loan yields and the decrease in total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 3 basis points from discount accretion, the core net interest margin was 3.18 percent in the current quarter compared to 2.99 percent in the prior quarter and 2.63 in the prior year second quarter. “Growth in the loan portfolio at higher yields, along with stable deposit costs and the reduction in higher cost FHLB borrowings contributed to the 17 basis points increase in the current quarter net interest margin,” said Ron Copher, Chief Financial Officer.

Non-interest Income
Non-interest income for the current quarter totaled $32.9 million, which was an increase of $302 thousand, or 1 percent, over the prior quarter and an increase of $740 thousand, or 2 percent, over the prior year second quarter. Service charges and other fees of $20.4 million for the current quarter increased $1.6 million, or 8 percent, compared to the prior quarter and increased $983 thousand, or 5 percent, compared to the prior year second quarter. Gain on the sale of residential loans of $4.3 million for the current quarter decreased $38 thousand, or 88 basis points, compared to the prior quarter and decreased $396 thousand, or 8 percent, from the prior year second quarter. Other income of $3.2 million decreased $1.7 million, or 34 percent, over the prior quarter primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the prior quarter.

Non-interest Expense Summary

	Three Months ended				$ Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Jun 30, 2024	Mar 31, 2025		Jun 30, 2024
Compensation and employee benefits	$	94,355	91,443	84,434	2,912		9,921
Occupancy and equipment		12,558	12,294	11,594	264		964
Advertising and promotions		4,394	4,144	4,362	250		32
Data processing		9,883	9,138	9,387	745		496
Other real estate owned and foreclosed assets		26	63	149	(37	)	(123	)
Regulatory assessments and insurance		5,847	5,534	5,393	313		454
Intangibles amortization		3,624	3,270	3,017	354		607
Other expenses		24,432	25,432	22,616	(1,000	)	1,816
Total non-interest expense	$	155,119	151,318	140,952	3,801		14,167

Total non-interest expense of $155 million for the current quarter increased $3.8 million, or 3 percent, over the prior quarter and increased $14.2 million, or 10 percent, over the prior year second quarter. Compensation and employee benefits of $94.4 million increased by $2.9 million, or 3 percent, over the prior quarter and was primarily attributable to increased costs from the acquisition. Compensation and employee benefits increased $9.9 million, or 12 percent, from the prior year second quarter and was primarily driven by annual salary increases and increases in staffing levels from current and prior year acquisitions.

Other expenses of $24.4 million decreased $1.0 million, or 4 percent, from the prior quarter and increased $1.8 million, or 8 percent, from the prior year second quarter. Acquisition-related expense was $3.2 million in the current quarter compared to $587 thousand in the prior quarter and $1.8 million in the prior year second quarter. The current quarter other expenses included $1.6 million of gain from the sale of a former branch facility compared to a $1.2 million gain in the prior quarter and a $2.0 million gain in the prior year second quarter.

Federal and State Income Tax Expense
Tax expense during the second quarter of 2025 was $12.4 million, an increase of $3.5 million, or 39 percent, compared to the prior quarter and an increase of $2.9 million, or 30 percent, from the prior year second quarter. The effective tax rate in the current quarter was 19.0 percent compared to 14.0 percent in the prior quarter and 17.5 percent in the prior year second quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior quarter was the result of a combination of lower federal income tax credits and an increase in income before income tax expense in the current quarter.

Efficiency Ratio
The efficiency ratio was 62.08 percent in the current quarter compared to 65.49 percent in the prior quarter and 67.97 percent in the prior year second quarter. The decrease from the prior quarter and the prior year second quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense.

Operating Results for Six Months Ended June 30, 2025
Compared to June 30, 2024

Income Summary

	Six Months ended
(Dollars in thousands)	Jun 30, 2025			Jun 30, 2024			$ Change			% Change
Net interest income
Interest income	$	598,040		$	553,236		$	44,804		8	%
Interest expense		200,445			220,278			(19,833	)	(9)	%
Total net interest income		397,595			332,958			64,637		19	%
Non-interest income
Service charges and other fees		39,223			37,985			1,238		3	%
Miscellaneous loan fees and charges		9,731			9,183			548		6	%
Gain on sale of loans		8,584			8,031			553		7	%
Gain on sale of securities		—			4			(4	)	(100)	%
Other income		8,048			6,990			1,058		15	%
Total non-interest income		65,586			62,193			3,393		5	%
Total Income	$	463,181		$	395,151		$	68,030		17	%
Net interest margin (tax-equivalent)		3.12	%		2.64	%

Net Interest Income
Net-interest income of $398 million for the first half of 2025 increased $64.6 million, or 19 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $598 million for the first half of 2025 increased $44.8 million, or 8 percent, from the prior year and was primarily attributable to the increase in the loan portfolio and an increase in loan yields. The loan yield was 5.82 percent during the first half of 2025, an increase of 30 basis points from the prior year first half loan yield of 5.52 percent.

Interest expense of $200 million for the first half of 2025 decreased $19.8 million, or 9 percent, over the same period in the prior year and was primarily the result of lower interest rates on deposits and a decrease in higher cost borrowings. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for the first half of 2025, which was a decrease of 10 basis points over the first half of the prior year core deposit costs of 1.35 percent. The total funding cost (including non-interest bearing deposits) for the first half of 2025 was 1.65 percent, which was a decrease of 17 basis points over the first half of the prior year funding cost of 1.82 percent.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first half of 2025 was 3.12 percent, a 48 basis points increase from the net interest margin of 2.64 percent for the first half of the prior year. Excluding the 4 basis points from discount accretion, the core net interest margin was 3.08 percent in the first half of the current year compared to 2.60 percent in the prior year first half. The increase in net interest margin from the prior year was primarily driven by increased loan yields and decreased funding costs combined with a shift in earning asset mix to higher yielding loans and a shift in funding liabilities to lower cost deposits.

Non-interest Income
Non-interest income of $65.6 million for the first half of 2025 increased $3.4 million, or 5 percent, over the same period last year. Service charges and other fees of $39.2 million for the first half of 2025 increased $1.2 million, or 3 percent, over the first half of the prior year. Gain on sale of residential loans of $8.6 million for the first half of 2025 increased by $553 thousand, or 7 percent, over the first half of the prior year. Other income of $8.0 million for the first half of 2025 increased $1.1 million over the prior year first half and was primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the current year.

Non-interest Expense Summary

	Six Months ended
(Dollars in thousands)	Jun 30, 2025		Jun 30, 2024		$ Change			% Change
Compensation and employee benefits	$	185,798	$	170,223	$	15,575		9	%
Occupancy and equipment		24,852		23,477		1,375		6	%
Advertising and promotions		8,538		8,345		193		2	%
Data processing		19,021		18,546		475		3	%
Other real estate owned and foreclosed assets		89		174		(85	)	(49)	%
Regulatory assessments and insurance		11,381		13,154		(1,773	)	(13)	%
Core deposit intangibles amortization		6,894		5,777		1,117		19	%
Other expenses		49,864		53,099		(3,235	)	(6)	%
Total non-interest expense	$	306,437	$	292,795	$	13,642		5	%

Total non-interest expense of $306 million for the first half of 2025 increased $13.6 million, or 5 percent, over the same period in the prior year. Compensation and employee benefits expense of $186 million in the first half of 2025 increased $15.6 million, or 9 percent, over the same period in the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $11.4 million for the first half of 2025 decreased $1.8 million, or 13 percent, from the prior year first half primarily as a result of adjustments to the FDIC special assessment. Other expenses of $49.9 million for the first half of 2025 decreased $3.2 million, or 6 percent, from the first half of the prior year and was primarily driven by a decrease of $3.7 million of acquisition-related expenses.

Provision for Credit Losses
The provision for credit loss expense was $28.1 million for the first half of 2025, an increase of $16.3 million, or 139 percent, over the same period in the prior year. Included in the current year provision for credit losses was $16.7 million from the acquisition of BOID and included in the prior year was $5.3 million from the acquisition of Wheatland Bank. Net charge-offs for the first half of 2025 were $3.4 million compared to $6.0 million in the first half of 2024.

Federal and State Income Tax Expense
Tax expense of $21.3 million for the first half of 2025 increased $8.1 million, or 61 percent, over the same period in the prior year. The effective tax rate for the first half of 2025 was 16.6 percent compared to 14.6 percent for the same period in the prior year. The increase in tax expense and the increase in the effective tax rate was the primarily the result of an increase in the pre-tax income.

Efficiency Ratio
The efficiency ratio was 63.72 percent for the first half of 2025 compared to 71.17 percent for the same period of 2024. The decrease from the prior year was primarily attributable to the increase in net interest income that outpaced the increase in non-interest expense.

Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “will,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:

risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
legislative or regulatory changes, including increased FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increased banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
risks related to overall economic conditions, including the impact on the economy of an uncertain interest rate environment, inflationary pressures, recently passed legislation and the potential for significant additional changes in economic and trade policies in the current administration;
risks to the Company’s business and the business of the Company’s customers arising from current or future tariffs or other trade restrictions, labor or supply chain issues, change in labor force, or geopolitical instability, including the wars in Ukraine and the Middle East;
risks associated with the Company’s ability to negotiate, complete, and successfully integrate pending or future acquisitions;
costs or difficulties related to the completion and integration of pending or recently completed acquisitions;
impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital;
reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition;
deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company’s ability to obtain and maintain customers;
changes in the competitive landscape, including as may result from new market entrants or further consolidation in the financial services industry, resulting in the creation of larger competitors with greater financial resources;
risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions;
risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions;
material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities;
risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events;
success in managing risks involved in any of the foregoing; and
effects of any reputational damage to the Company resulting from any of the foregoing.

The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.

Conference Call Information
A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, July 25, 2025. Please note that our conference call host no longer offers a general dial-in number. Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register-conf.media-server.com/register/BI39099c48cd94493cadee5c8f4fe748e5. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/zusost57.

About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. (NYSE: GBCI), a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its eight state Western U.S. footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).

CONTACT: Randall M. Chesler, CEO

(406) 751-4722

Ron J. Copher, CFO

(406) 751-7706

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition

(Dollars in thousands, except per share data)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Assets
Cash on hand and in banks	$	375,398		322,253		268,746		271,107
Interest bearing cash deposits		540,109		659,232		579,662		529,672
Cash and cash equivalents		915,507		981,485		848,408		800,779
Debt securities, available-for-sale		4,024,980		4,172,312		4,245,205		4,499,541
Debt securities, held-to-maturity		3,206,133		3,261,575		3,294,847		3,400,403
Total debt securities		7,231,113		7,433,887		7,540,052		7,899,944
Loans held for sale, at fair value		47,738		40,523		33,060		39,745
Loans receivable		18,532,740		17,218,518		17,261,849		16,851,991
Allowance for credit losses		(226,799	)	(210,400	)	(206,041	)	(200,955	)
Loans receivable, net		18,305,941		17,008,118		17,055,808		16,651,036
Premises and equipment, net		426,801		411,095		411,968		391,266
Right-of-use assets, net		56,525		54,441		56,252		60,249
Other real estate owned and foreclosed assets		1,879		1,153		1,164		630
Accrued interest receivable		108,286		103,992		99,262		102,279
Deferred tax asset		114,528		122,942		138,955		155,834
Intangibles, net		64,949		47,911		51,182		43,028
Goodwill		1,126,525		1,051,318		1,051,318		1,023,762
Non-marketable equity securities		76,990		88,134		99,669		121,810
Bank-owned life insurance		191,623		191,044		189,849		187,793
Other assets		341,702		322,836		326,040		327,185
Total assets	$	29,010,107		27,858,879		27,902,987		27,805,340
Liabilities
Non-interest bearing deposits	$	6,593,728		6,100,548		6,136,709		6,093,430
Interest bearing deposits		15,034,774		14,533,502		14,410,285		14,008,329
Securities sold under agreements to repurchase		1,976,228		1,849,070		1,777,475		1,629,504
FHLB advances		1,255,088		1,520,000		1,800,000		2,350,000
Other borrowed funds		62,366		62,216		62,062		64,702
Finance lease liabilities		19,405		20,227		21,279		23,447
Subordinated debentures		157,127		133,145		133,105		133,024
Accrued interest payable		27,973		30,231		33,626		31,000
Operating lease liabilities		42,274		39,244		39,902		41,421
Other liabilities		303,756		283,088		264,690		293,038
Total liabilities		25,472,719		24,571,271		24,679,133		24,667,895
Commitments and Contingent Liabilities		—		—		—		—
Stockholders’ Equity
Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding		—		—		—		—
Common stock, $0.01 par value per share, 234,000,000 shares authorized		1,186		1,135		1,134		1,134
Paid-in capital		2,661,018		2,449,311		2,448,758		2,445,479
Retained earnings – substantially restricted		1,113,839		1,100,273		1,083,258		1,045,483
Accumulated other comprehensive loss		(238,655	)	(263,111	)	(309,296	)	(354,651	)
Total stockholders’ equity		3,537,388		3,287,608		3,223,854		3,137,445
Total liabilities and stockholders’ equity	$	29,010,107		27,858,879		27,902,987		27,805,340

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations

	Three Months ended					Six Months ended
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Jun 30, 2024		Jun 30, 2025	Jun 30, 2024
Interest Income
Investment securities	$	44,148	45,646	42,165		89,794	98,383
Residential real estate loans		25,361	24,275	21,754		49,636	42,518
Commercial loans		214,816	197,388	188,326		412,204	369,798
Consumer and other loans		23,790	22,616	21,589		46,406	42,537
Total interest income		308,115	289,925	273,834		598,040	553,236
Interest Expense
Deposits		65,569	62,865	67,852		128,434	135,048
Securities sold under agreements to repurchase		14,109	13,733	13,566		27,842	26,164
Federal Home Loan Bank advances		17,806	20,719	24,179		38,525	28,428
FRB Bank Term Funding		—	—	—		—	27,097
Other borrowed funds		400	402	353		802	697
Subordinated debentures		2,615	2,227	1,406		4,842	2,844
Total interest expense		100,499	99,946	107,356		200,445	220,278
Net Interest Income		207,616	189,979	166,478		397,595	332,958
Provision for credit losses		20,267	7,814	3,518		28,081	11,767
Net interest income after provision for credit losses		187,349	182,165	162,960		369,514	321,191
Non-Interest Income
Service charges and other fees		20,405	18,818	19,422		39,223	37,985
Miscellaneous loan fees and charges		5,067	4,664	4,821		9,731	9,183
Gain on sale of loans		4,273	4,311	4,669		8,584	8,031
(Loss) gain on sale of securities		—	—	(12	)	—	4
Other income		3,199	4,849	3,304		8,048	6,990
Total non-interest income		32,944	32,642	32,204		65,586	62,193
Non-Interest Expense
Compensation and employee benefits		94,355	91,443	84,434		185,798	170,223
Occupancy and equipment		12,558	12,294	11,594		24,852	23,477
Advertising and promotions		4,394	4,144	4,362		8,538	8,345
Data processing		9,883	9,138	9,387		19,021	18,546
Other real estate owned and foreclosed assets		26	63	149		89	174
Regulatory assessments and insurance		5,847	5,534	5,393		11,381	13,154
Intangibles amortization		3,624	3,270	3,017		6,894	5,777
Other expenses		24,432	25,432	22,616		49,864	53,099
Total non-interest expense		155,119	151,318	140,952		306,437	292,795
Income Before Income Taxes		65,174	63,489	54,212		128,663	90,589
Federal and state income tax expense		12,393	8,921	9,504		21,314	13,254
Net Income	$	52,781	54,568	44,708		107,349	77,335

Glacier Bancorp, Inc. Average Balance Sheets

	Three Months ended
	June 30, 2025						March 31, 2025
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,940,514	$	25,361	5.23	%	$	1,885,497	$	24,275	5.15	%
Commercial loans ¹		14,884,885		216,385	5.83	%		14,091,210		198,921	5.73	%
Consumer and other loans		1,336,030		23,790	7.14	%		1,302,687		22,616	7.04	%
Total loans ²		18,161,429		265,536	5.86	%		17,279,394		245,812	5.77	%
Tax-exempt debt securities ³		1,594,895		13,999	3.51	%		1,604,851		13,936	3.47	%
Taxable debt securities ^{4, 5}		6,645,312		32,045	1.93	%		6,946,562		33,598	1.93	%
Total earning assets		26,401,636		311,580	4.73	%		25,830,807		293,346	4.61	%
Goodwill and intangibles		1,153,466						1,100,801
Non-earning assets		918,007						847,855
Total assets	$	28,473,109					$	27,779,463
Liabilities
Non-interest bearing deposits	$	6,256,245	$	—	—	%	$	5,989,490	$	—	—	%
NOW and DDA accounts		5,674,990		16,045	1.13	%		5,525,976		15,065	1.11	%
Savings accounts		2,904,389		5,402	0.75	%		2,861,675		5,159	0.73	%
Money market deposit accounts		3,000,487		15,389	2.06	%		2,849,470		13,526	1.93	%
Certificate accounts		3,211,418		28,667	3.58	%		3,152,198		29,075	3.74	%
Total core deposits		21,047,529		65,503	1.25	%		20,378,809		62,825	1.25	%
Wholesale deposits ⁶		5,618		66	4.67	%		3,600		40	4.53	%
Repurchase agreements		1,898,841		14,109	2.98	%		1,842,773		13,733	3.02	%
FHLB advances		1,494,781		17,806	4.71	%		1,744,000		20,719	4.75	%
Subordinated debentures and other borrowed funds		231,902		3,015	5.21	%		216,073		2,629	4.94	%
Total funding liabilities		24,678,671		100,499	1.63	%		24,185,255		99,946	1.68	%
Other liabilities		338,289						326,764
Total liabilities		25,016,960						24,512,019
Stockholders’ Equity
Stockholders’ equity		3,456,149						3,267,444
Total liabilities and stockholders’ equity	$	28,473,109					$	27,779,463
Net interest income (tax-equivalent)			$	211,081					$	193,400
Net interest spread (tax-equivalent)					3.10	%					2.93	%
Net interest margin (tax-equivalent)					3.21	%					3.04	%

______________________________

¹	Includes tax effect of $1.6 million and $1.5 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and March 31, 2025, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $1.7 million and $1.7 million on tax-exempt debt securities income for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁴	Includes interest income of $4.8 million and $6.1 million on average interest-bearing cash balances of $433.7 million and $559.5 million for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁵	Includes tax effect of $151 thousand and $150 thousand on federal income tax credits for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Average Balance Sheets (continued)

	Three Months ended
	June 30, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,940,514	$	25,361	5.23	%	$	1,796,787	$	21,754	4.84	%
Commercial loans ¹		14,884,885		216,385	5.83	%		13,740,455		189,939	5.56	%
Consumer and other loans		1,336,030		23,790	7.14	%		1,290,587		21,589	6.73	%
Total loans ²		18,161,429		265,536	5.86	%		16,827,829		233,282	5.58	%
Tax-exempt debt securities ³		1,594,895		13,999	3.51	%		1,707,269		15,111	3.54	%
Taxable debt securities ^{4, 5}		6,645,312		32,045	1.93	%		7,042,885		29,461	1.67	%
Total earning assets		26,401,636		311,580	4.73	%		25,577,983		277,854	4.37	%
Goodwill and intangibles		1,153,466						1,068,250
Non-earning assets		918,007						754,491
Total assets	$	28,473,109					$	27,400,724
Liabilities
Non-interest bearing deposits	$	6,256,245	$	—	—	%	$	6,026,709	$	—	—	%
NOW and DDA accounts		5,674,990		16,045	1.13	%		5,221,883		15,728	1.21	%
Savings accounts		2,904,389		5,402	0.75	%		2,914,538		6,014	0.83	%
Money market deposit accounts		3,000,487		15,389	2.06	%		2,904,438		14,467	2.00	%
Certificate accounts		3,211,418		28,667	3.58	%		3,037,638		31,593	4.18	%
Total core deposits		21,047,529		65,503	1.25	%		20,105,206		67,802	1.36	%
Wholesale deposits ⁶		5,618		66	4.67	%		3,726		50	5.50	%
Repurchase agreements		1,898,841		14,109	2.98	%		1,597,887		13,566	3.41	%
FHLB advances		1,494,781		17,806	4.71	%		2,007,747		24,179	4.76	%
Subordinated debentures and other borrowed funds		231,902		3,015	5.21	%		224,778		1,759	3.15	%
Total funding liabilities		24,678,671		100,499	1.63	%		23,939,344		107,356	1.80	%
Other liabilities		338,289						344,105
Total liabilities		25,016,960						24,283,449
Stockholders’ Equity
Stockholders’ equity		3,456,149						3,117,275
Total liabilities and stockholders’ equity	$	28,473,109					$	27,400,724
Net interest income (tax-equivalent)			$	211,081					$	170,498
Net interest spread (tax-equivalent)					3.10	%					2.57	%
Net interest margin (tax-equivalent)					3.21	%					2.68	%

______________________________

¹	Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and 2024, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $1.7 million and $2.2 million on tax-exempt debt securities income for the three months ended June 30, 2025 and 2024, respectively.
⁴	Includes interest income of $4.8 million and $1.9 million on average interest-bearing cash balances of $433.7 million and $143.0 million for the three months ended June 30, 2025 and 2024, respectively.
⁵	Includes tax effect of $151 thousand and $211 thousand on federal income tax credits for the three months ended June 30, 2025 and 2024, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Average Balance Sheets (continued)

	Six Months ended
	June 30, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,913,157	$	49,636	5.19	%	$	1,771,985	$	42,518	4.80	%
Commercial loans ¹		14,490,240		415,306	5.78	%		13,626,941		372,984	5.50	%
Consumer and other loans		1,319,451		46,406	7.09	%		1,286,988		42,537	6.65	%
Total loans ²		17,722,848		511,348	5.82	%		16,685,914		458,039	5.52	%
Tax-exempt debt securities ³		1,599,845		27,935	3.49	%		1,713,819		30,268	3.53	%
Taxable debt securities ^{4, 5}		6,795,105		65,643	1.93	%		7,609,930		72,938	1.92	%
Total earning assets		26,117,798		604,926	4.67	%		26,009,663		561,245	4.34	%
Goodwill and intangibles		1,127,279						1,060,102
Non-earning assets		883,125						683,020
Total assets	$	28,128,202					$	27,752,785
Liabilities
Non-interest bearing deposits	$	6,123,604	$	—	—	%	$	5,996,627	$	—	—	%
NOW and DDA accounts		5,600,895		31,110	1.12	%		5,248,793		31,646	1.21	%
Savings accounts		2,883,150		10,561	0.74	%		2,907,594		11,669	0.81	%
Money market deposit accounts		2,925,396		28,915	1.99	%		2,926,366		28,860	1.98	%
Certificate accounts		3,181,971		57,742	3.66	%		3,019,176		62,768	4.18	%
Total core deposits		20,715,016		128,328	1.25	%		20,098,556		134,943	1.35	%
Wholesale deposits ⁶		4,615		106	4.62	%		3,846		105	5.50	%
Repurchase agreements		1,870,962		27,842	3.00	%		1,555,642		26,164	3.38	%
FHLB advances		1,618,702		38,525	4.73	%		1,179,251		28,428	4.77	%
FRB Bank Term Funding		—		—	—	%		1,241,538		27,097	4.39	%
Subordinated debentures and other borrowed funds		224,031		5,644	5.08	%		221,525		3,541	3.21	%
Total funding liabilities		24,433,326		200,445	1.65	%		24,300,358		220,278	1.82	%
Other liabilities		332,558						350,329
Total liabilities		24,765,884						24,650,687
Stockholders’ Equity
Stockholders’ equity		3,362,318						3,102,098
Total liabilities and stockholders’ equity	$	28,128,202					$	27,752,785
Net interest income (tax-equivalent)			$	404,481					$	340,967
Net interest spread (tax-equivalent)					3.02	%					2.52	%
Net interest margin (tax-equivalent)					3.12	%					2.64	%

______________________________

¹	Includes tax effect of $3.1 million and $3.2 million on tax-exempt municipal loan and lease income for the Six Months ended June 30, 2025 and 2024, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $3.5 million and $4.4 million on tax-exempt debt securities income for the Six Months ended June 30, 2025 and 2024, respectively.
⁴	Includes interest income of $11.0 million and $17.2 million on average interest-bearing cash balances of $496.2 million and $631.7 million for the Six Months ended June 30, 2025 and 2024, respectively.
⁵	Includes tax effect of $301 thousand and $426 thousand on federal income tax credits for the Six Months ended June 30, 2025 and 2024, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Loan Portfolio by Regulatory Classification

	Loans Receivable, by Loan Type									% Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025			Dec 31, 2024			Mar 31, 2025		Dec 31, 2024
Custom and owner occupied construction	$	254,790		$	233,584		$	242,844		9	%	5	%
Pre-sold and spec construction		208,106			200,921			191,926		4	%	8	%
Total residential construction		462,896			434,505			434,770		7	%	6	%
Land development		176,925			177,448			197,369		—	%	(10)	%
Consumer land or lots		229,823			197,553			187,024		16	%	23	%
Unimproved land		127,550			115,528			113,532		10	%	12	%
Developed lots for operative builders		73,053			64,782			61,661		13	%	18	%
Commercial lots		175,929			95,574			99,243		84	%	77	%
Other construction		753,056			714,151			693,461		5	%	9	%
Total land, lot, and other construction		1,536,336			1,365,036			1,352,290		13	%	14	%
Owner occupied		3,529,536			3,182,589			3,197,138		11	%	10	%
Non-owner occupied		4,283,986			4,054,107			4,053,996		6	%	6	%
Total commercial real estate		7,813,522			7,236,696			7,251,134		8	%	8	%
Commercial and industrial		1,545,498			1,392,365			1,395,997		11	%	11	%
Agriculture		1,167,611			1,016,081			1,024,520		15	%	14	%
First lien		2,590,433			2,499,494			2,481,918		4	%	4	%
Junior lien		80,170			85,343			76,303		(6)	%	5	%
Total 1-4 family		2,670,603			2,584,837			2,558,221		3	%	4	%
Multifamily residential		975,785			874,071			895,242		12	%	9	%
Home equity lines of credit		1,048,595			989,043			1,005,783		6	%	4	%
Other consumer		197,744			188,388			209,457		5	%	(6)	%
Total consumer		1,246,339			1,177,431			1,215,240		6	%	3	%
States and political subdivisions		973,145			1,001,058			983,601		(3)	%	(1)	%
Other		188,743			176,961			183,894		7	%	3	%
Total loans receivable, including loans held for sale		18,580,478			17,259,041			17,294,909		8	%	7	%
Less loans held for sale ¹		(47,738	)		(40,523	)		(33,060	)	18	%	44	%
Total loans receivable	$	18,532,740		$	17,218,518		$	17,261,849		8	%	7	%

______________________________

¹	Loans held for sale are primarily first lien 1-4 family loans.

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification

	Non-performing Assets, by Loan Type					Non- Accrual Loans	Accruing Loans 90 Days or More Past Due	Other real estate owned and foreclosed assets
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Dec 31, 2024	Jun 30, 2024	Jun 30, 2025	Jun 30, 2025	Jun 30, 2025
Custom and owner occupied construction	$	235	194	198	206	189	46	—
Pre-sold and spec construction		2,806	2,896	2,132	2,908	2,043	763	—
Total residential construction		3,041	3,090	2,330	3,114	2,232	809	—
Land development		885	935	966	—	875	10	—
Consumer land or lots		460	173	78	429	164	296	—
Developed lots for operative builders		531	531	531	608	—	531	—
Commercial lots		47	47	47	47	—	47	—
Other construction		—	—	—	25	—	—	—
Total land, lot and other construction		1,923	1,686	1,622	1,109	1,039	884	—
Owner occupied		4,412	3,601	2,979	1,992	4,407	5	—
Non-owner occupied		1,206	2,235	2,235	257	—	—	1,206
Total commercial real estate		5,618	5,836	5,214	2,249	4,407	5	1,206
Commercial and Industrial		14,764	12,367	2,069	2,044	13,452	1,243	69
Agriculture		6,603	2,382	2,335	2,442	2,141	4,462	—
First lien		10,549	8,752	9,053	2,923	7,856	2,162	531
Junior lien		533	296	315	492	293	240	—
Total 1-4 family		11,082	9,048	9,368	3,415	8,149	2,402	531
Multifamily residential		398	400	389	385	398	—	—
Home equity lines of credit		4,016	3,479	3,465	2,145	2,834	1,182	—
Other consumer		921	1,003	955	1,089	704	144	73
Total consumer		4,937	4,482	4,420	3,234	3,538	1,326	73
Other		240	47	39	16	—	240	—
Total	$	48,606	39,338	27,786	18,008	35,356	11,371	1,879

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued)

	Accruing 30-89 Days Delinquent Loans, by Loan Type								% Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Custom and owner occupied construction	$	385	$	786	$	969	$	1,323	(51)	%	(60)	%	(71)	%
Pre-sold and spec construction		—		—		564		816	n/m		(100)	%	(100)	%
Total residential construction		385		786		1,533		2,139	(51)	%	(75)	%	(82)	%
Land development		170		—		1,450		—	n/m		(88)	%	n/m
Consumer land or lots		1,210		1,026		402		411	18	%	201	%	194	%
Unimproved land		75		32		36		158	134	%	108	%	(53)	%
Developed lots for operative builders		—		—		214		—	n/m		(100)	%	n/m
Commercial lots		—		189		—		21	(100)	%	n/m		(100)	%
Other construction		7,840		—		—		—	n/m		n/m		n/m
Total land, lot and other construction		9,295		1,247		2,102		590	645	%	342	%	1,475	%
Owner occupied		3,903		3,786		2,867		4,326	3	%	36	%	(10)	%
Non-owner occupied		13,806		346		5,037		8,119	3,890	%	174	%	70	%
Total commercial real estate		17,709		4,132		7,904		12,445	329	%	124	%	42	%
Commercial and industrial		6,711		5,358		6,194		17,591	25	%	8	%	(62)	%
Agriculture		8,243		5,731		744		5,288	44	%	1,008	%	56	%
First lien		3,583		14,826		6,326		2,637	(76)	%	(43)	%	36	%
Junior lien		—		1,023		214		17	(100)	%	(100)	%	(100)	%
Total 1-4 family		3,583		15,849		6,540		2,654	(77)	%	(45)	%	35	%
Home equity lines of credit		5,482		6,993		3,731		5,432	(22)	%	47	%	1	%
Other consumer		1,615		1,824		1,775		2,192	(11)	%	(9)	%	(26)	%
Total consumer		7,097		8,817		5,506		7,624	(20)	%	29	%	(7)	%
States and political subdivisions		—		3,220		—		—	(100)	%	n/m		n/m
Other		1,380		1,318		1,705		1,347	5	%	(19)	%	2	%
Total	$	54,403	$	46,458	$	32,228	$	49,678	17	%	69	%	10	%

______________________________

^{n/m – not measurable}

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued)

	Net Charge-Offs (Recoveries), Year-to-Date Period Ending, By Loan Type									Charge-Offs	Recoveries
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Jun 30, 2025	Jun 30, 2025
Pre-sold and spec construction	$	50		—		(4	)	(4	)	51	1
Land development		(341	)	(341	)	1,095		(1	)	—	341
Consumer land or lots		(3	)	(3	)	(22	)	(22	)	—	3
Unimproved land		—		—		1,338		5		—	—
Commercial lots		—		—		319		319		—	—
Total land, lot and other construction		(344	)	(344	)	2,730		301		—	344
Owner occupied		(1	)	(1	)	(73	)	(73	)	—	1
Non-owner occupied		(8	)	(6	)	2		(2	)	—	8
Total commercial real estate		(9	)	(7	)	(71	)	(75	)	—	9
Commercial and industrial		26		92		1,422		644		827	801
Agriculture		(109	)	(1	)	64		68		—	109
First lien		(79	)	(69	)	32		(22	)	1	80
Junior lien		(137	)	(5	)	(65	)	(55	)	—	137
Total 1-4 family		(216	)	(74	)	(33	)	(77	)	1	217
Home equity lines of credit		(20	)	(20	)	69		1		10	30
Other consumer		656		276		1,078		493		789	133
Total consumer		636		256		1,147		494		799	163
Other		3,406		1,873		8,643		4,611		5,558	2,152
Total	$	3,440		1,795		13,898		5,962		7,236	3,796

Visit our website at www.glacierbancorp.com

The MIL Network –

July 25, 2025

MIL-OSI: Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended June 30, 2025

Source: GlobeNewswire (MIL-OSI)

2nd Quarter 2025 Highlights:

Including the $19.9 million expenses related to the current quarter acquisition, diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39 per share.
Net income was $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent, from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the prior year second quarter net income of $44.7 million.
Net interest income was $208 million for the current quarter, an increase of $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and an increase of $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million.
The loan portfolio of $18.533 billion increased $1.314 billion, or 8 percent, during the current quarter and organically increased $239 million, or 6 percent annualized, during the current quarter.
Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter.
Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter.
Total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 percent and an increase of 53 basis points from the prior year second quarter net interest margin of 2.68 percent.
The loan yield of 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent.
The total earning asset yield of 4.73 percent in the current quarter increased 12 basis points from the prior quarter earning asset yield of 4.61 percent and increased 36 basis points from the prior year second quarter earning asset yield of 4.37 percent.
The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis point from the prior quarter total cost of funding of 1.68 percent and decreased 17 basis points form the prior year second quarter total cost of funding of 1.80 percent.
The Company declared a quarterly dividend of $0.33 per share. The Company has declared 161 consecutive quarterly dividends and has increased the dividend 49 times.
The Company completed the acquisition of Bank of Idaho Holding Co., the bank holding company for Bank of Idaho (collectively, “BOID”) which had total assets of $1.4 billion as of April 30, 2025. This was the Company’s 26th bank acquisition since 2000 and its 12th transaction in the past 10 years.
The Company announced the signing of a definitive agreement to acquire Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A. (collectively, “Guaranty”) which had total assets of $3.1 billion as of June 30, 2025. This acquisition will expand the Company’s southwest presence and be the first entrance into the state of Texas.

First Half 2025 Highlights

Diluted earnings per share for the first half of 2025 was $0.93 per share, an increase of 37 percent from the prior year first half diluted earnings per share of $0.68 per share.
Net income for the first half of 2025 was $107 million, an increase of $30.0 million, or 39 percent, from the prior year first half net income of $77.3 million.
Net interest income was $398 million for the first half of the current year, an increase of $64.6 million, or 19 percent, from the prior year net interest income of $333 million.
The loan portfolio increased $1.271 billion, or 7 percent, during the first half of 2025 and organically increased $196 million, or 2 percent, during the first half of 2025.
Total deposits increased $1.527 billion, or 8 percent, from the prior year second quarter.
Total deposits and repurchase agreements organically increased $202 million, or 1 percent, from the prior year second quarter.
The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the first half of 2025 was 3.12 percent, an increase of 48 basis points from the prior year first half net interest margin of 2.64 percent.
Dividends declared in the first half of 2025 were $0.66 per share.

Financial Summary

	At or for the Three Months ended							At or for the Six Months ended
(Dollars in thousands, except per share and market data)	Jun 30, 2025			Mar 31, 2025		Jun 30, 2024		Jun 30, 2025		Jun 30, 2024
Operating results
Net income	$	52,781		54,568		44,708		107,349		77,335
Basic earnings per share	$	0.45		0.48		0.39		0.93		0.68
Diluted earnings per share	$	0.45		0.48		0.39		0.93		0.68
Dividends declared per share	$	0.33		0.33		0.33		0.66		0.66
Market value per share
Closing	$	43.08		44.22		37.32		43.08		37.32
High	$	44.70		52.81		40.18		52.81		42.75
Low	$	36.76		43.18		34.35		36.76		34.35
Selected ratios and other data
Number of common stock shares outstanding		118,550,475		113,517,944		113,394,092		118,550,475		113,394,092
Average outstanding shares – basic		116,890,776		113,451,199		113,390,539		115,180,489		112,941,341
Average outstanding shares – diluted		116,918,290		113,546,365		113,405,491		115,244,550		112,981,531
Return on average assets (annualized)		0.74	%	0.80	%	0.66	%	0.77	%	0.56	%
Return on average equity (annualized)		6.13	%	6.77	%	5.77	%	6.44	%	5.01	%
Efficiency ratio		62.08	%	65.49	%	67.97	%	63.72	%	71.17	%
Loan to deposit ratio		85.91	%	83.64	%	84.03	%	85.91	%	84.03	%
Number of full time equivalent employees		3,665		3,457		3,399		3,665		3,399
Number of locations		247		227		231		247		231
Number of ATMs		300		286		286		300		286

KALISPELL, Mont., July 24, 2025 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $52.8 million for the current quarter, a decrease of $1.8 million, or 3 percent from the prior quarter net income of $54.6 million and an increase of $8.1 million, or 18 percent, from the $44.7 million of net income for the prior year second quarter. Diluted earnings per share for the current quarter was $0.45 per share, a decrease of 6 percent from the prior quarter diluted earnings per share of $0.48 per share and an increase of 15 percent from the prior year second quarter diluted earnings per share of $0.39. The current quarter included $3.2 million in acquisition-related expenses and $16.7 million of credit loss expense from the acquisition of BOID. “We continue to be very pleased with the long-term positive momentum that we see in the results this quarter. Net interest income continues to grow, net interest margin growth was very strong and disciplined cost control was evident,” said Randy Chesler, President and Chief Executive Officer. “In addition, we had a busy quarter closing the Bank of Idaho transaction and also announcing the expansion of our southwest region with the planned acquisition of Guaranty Bank & Trust in Texas.”

On April 30, 2025, the Company completed the acquisition of BOID, which had 15 branches across eastern Idaho, Boise and eastern Washington. Upon the core system conversion, the BOID operations will join three existing Glacier Bank divisions. The Eastern Idaho operations of Bank of Idaho will join Citizens Community Bank, the Boise operations will join Mountain West Bank and the Eastern Washington operations will join Wheatland Bank. The Company’s results of operations and financial condition include the BOID acquisition beginning on the acquisition date.
The following table discloses the preliminary fair value estimates of select classifications of assets and liabilities acquired:

	BOID
(Dollars in thousands)	April 30, 2025
Total assets	$	1,369,764
Cash and cash equivalents		26,127
Debt securities		139,974
Loans receivable		1,075,232
Non-interest bearing deposits		271,385
Interest bearing deposits		806,992
Borrowings and subordinated debt		71,932
Core deposit intangible		19,758
Goodwill		75,207

On June 24, 2025, the Company announced the signing of a definitive agreement to acquire Guaranty, a leading community bank headquartered in Mount Pleasant, Texas. As of June 30, 2025, Guaranty had total assets of $3.1 billion, total gross loans of $2.1 billion and total deposits of $2.7 billion. Upon closing of the transaction, Guaranty will operate as a new banking division under the name “Guaranty Bank & Trust, Division of Glacier Bank,” representing the Company’s 18th separate bank division. The acquisition is subject to regulatory approvals, approval of Guaranty’s shareholders and other customary conditions of closing and is expected to be completed in the fourth quarter of 2025.

Asset Summary

										$ Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Cash and cash equivalents	$	915,507		981,485		848,408		800,779		(65,978	)	67,099		114,728
Debt securities, available-for-sale		4,024,980		4,172,312		4,245,205		4,499,541		(147,332	)	(220,225	)	(474,561	)
Debt securities, held-to-maturity		3,206,133		3,261,575		3,294,847		3,400,403		(55,442	)	(88,714	)	(194,270	)
Total debt securities		7,231,113		7,433,887		7,540,052		7,899,944		(202,774	)	(308,939	)	(668,831	)
Loans receivable
Residential real estate		1,931,554		1,850,079		1,858,929		1,771,528		81,475		72,625		160,026
Commercial real estate		11,935,109		10,952,809		10,963,713		10,713,964		982,300		971,396		1,221,145
Other commercial		3,303,889		3,121,477		3,119,535		3,066,028		182,412		184,354		237,861
Home equity		975,429		920,132		930,994		905,884		55,297		44,435		69,545
Other consumer		386,759		374,021		388,678		394,587		12,738		(1,919	)	(7,828	)
Loans receivable		18,532,740		17,218,518		17,261,849		16,851,991		1,314,222		1,270,891		1,680,749
Allowance for credit losses		(226,799	)	(210,400	)	(206,041	)	(200,955	)	(16,399	)	(20,758	)	(25,844	)
Loans receivable, net		18,305,941		17,008,118		17,055,808		16,651,036		1,297,823		1,250,133		1,654,905
Other assets		2,557,546		2,435,389		2,458,719		2,453,581		122,157		98,827		103,965
Total assets	$	29,010,107		27,858,879		27,902,987		27,805,340		1,151,228		1,107,120		1,204,767

The Company continues to maintain a strong cash position of $916 million at June 30, 2025 which was a decrease of $66 million over the prior quarter and an increase of $115 million over the prior year second quarter. Total debt securities of $7.231 billion at June 30, 2025 decreased $203 million, or 3 percent, during the current quarter and decreased $669 million, or 8 percent, from the prior year second quarter. Debt securities represented 25 percent of total assets at June 30, 2025 compared to 27 percent at March 31, 2025 and 28 percent at June 30, 2024.

The loan portfolio of $18.533 billion at June 30, 2025 increased $1.314 billion, or 8 percent, during the current quarter and increased $1.681 billion, or 10 percent, from the prior year second quarter. Excluding the BOID acquisition, the loan portfolio organically increased $239 million, or 6 percent annualized, during the current quarter. Excluding the BOID acquisition, the loan category with the largest dollar increase during the current quarter was commercial real estate which increased $250 million, or 2 percent over the prior quarter. Excluding the BOID acquisition and the Rocky Mountain Bank (“RMB”) acquisition on July 19, 2024, the loan portfolio organically increased $334 million, or 2 percent, since the prior year second quarter. Excluding the acquisitions, the loan category with the largest dollar increase in the last twelve months was commercial real estate which increased $368 million, or 3 percent over the prior quarter.

Credit Quality Summary

	At or for the Six Months ended			At or for the Three Months ended		At or for the Year ended		At or for the Six Months ended
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Allowance for credit losses
Balance at beginning of period	$	206,041		206,041		192,757		192,757
Acquisitions		35		—		3		3
Provision for credit losses		24,163		6,154		27,179		14,157
Charge-offs		(7,236	)	(3,897	)	(18,626	)	(8,430	)
Recoveries		3,796		2,102		4,728		2,468
Balance at end of period	$	226,799		210,400		206,041		200,955
Provision for credit losses
Loan portfolio	$	24,163		6,154		27,179		14,157
Unfunded loan commitments		3,918		1,660		1,127		(2,390	)
Total provision for credit losses	$	28,081		7,814		28,306		11,767
Other real estate owned	$	1,737		1,085		1,085		432
Other foreclosed assets		142		68		79		198
Accruing loans 90 days or more past due		11,371		5,289		6,177		4,692
Non-accrual loans		35,356		32,896		20,445		12,686
Total non-performing assets	$	48,606		39,338		27,786		18,008
Non-performing assets as a percentage of subsidiary assets		0.17	%	0.14	%	0.10	%	0.06	%
Allowance for credit losses as a percentage of non-performing loans		485	%	551	%	774	%	1,116	%
Allowance for credit losses as a percentage of total loans		1.22	%	1.22	%	1.19	%	1.19	%
Net charge-offs as a percentage of total loans		0.02	%	0.01	%	0.08	%	0.04	%
Accruing loans 30-89 days past due	$	54,403		46,458		32,228		49,678
U.S. government guarantees included in non-performing assets	$	2,651		685		748		1,228

Non-performing assets as a percentage of subsidiary assets at June 30, 2025 was 0.17 percent compared to 0.14 percent in the prior quarter and 0.06 percent in the prior year second quarter. Non-performing assets of $48.6 million at June 30, 2025 increased $9.3 million, or 24 percent, over the prior quarter and increased $30.6 million, or 170 percent, over the prior year second quarter.

Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at June 30, 2025 were 0.28 percent compared to 0.27 percent for the prior quarter end and 0.29 percent for the prior year second quarter. Early stage delinquencies of $54.4 million at June 30, 2025 increased $7.9 million from the prior quarter and decreased $4.7 million from prior year second quarter.

The current quarter provision for credit loss expense of $20.3 million included $14.6 million of credit loss expense on loans and $2.1 million of credit loss expense on unfunded loan commitments from the acquisition of BOID. Excluding the acquisition of BOID, the current quarter credit loss expense was $3.6 million, including $3.4 million of credit loss expense on loans and $159 thousand of credit loss expense on unfunded commitments.

The allowance for credit losses (“ACL”) on loans as a percentage of total loans outstanding was 1.22 percent at June 30, 2025 and March 31, 2025 compared to 1.19 percent at June 30, 2024. Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts, actual results, and other environmental factors will continue to determine the level of the provision for credit losses for loans.

Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio

(Dollars in thousands)	Provision for Credit Losses Loans		Net Charge-Offs		ACL as a Percent of Loans		Accruing Loans 30-89 Days Past Due as a Percent of Loans		Non-Performing Assets to Total Subsidiary Assets
Second quarter 2025	$	18,009	$	1,645	1.22	%	0.29	%	0.17	%
First quarter 2025		6,154		1,795	1.22	%	0.27	%	0.14	%
Fourth quarter 2024		6,041		5,170	1.19	%	0.19	%	0.10	%
Third quarter 2024		6,981		2,766	1.19	%	0.33	%	0.10	%
Second quarter 2024		5,066		2,890	1.19	%	0.29	%	0.06	%
First quarter 2024		9,091		3,072	1.19	%	0.37	%	0.09	%
Fourth quarter 2023		4,181		3,695	1.19	%	0.31	%	0.09	%
Third quarter 2023		5,095		2,209	1.19	%	0.09	%	0.15	%

Net charge-offs for the current quarter were $1.6 million compared to $1.8 million in the prior quarter and $2.9 million for the prior year second quarter. The current quarter net charge-offs included $1.5 million in deposit overdraft net charge-offs and $111 thousand of net loan charge-offs.

Supplemental information regarding credit quality and identification of the Company’s loan portfolio based on the regulatory classification of loans is provided in the exhibits at the end of this press release. The regulatory classification of loans is based primarily on collateral type while the Company’s loan segments presented herein are based on the purpose of the loan.

Liability Summary

						$ Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Dec 31, 2024	Jun 30, 2024	Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Deposits
Non-interest bearing deposits	$	6,593,728	6,100,548	6,136,709	6,093,430	493,180		457,019		500,298
NOW and DDA accounts		5,747,388	5,676,177	5,543,512	5,219,838	71,211		203,876		527,550
Savings accounts		2,956,387	2,896,378	2,845,124	2,862,034	60,009		111,263		94,353
Money market deposit accounts		3,089,115	2,816,874	2,878,213	2,858,850	272,241		210,902		230,265
Certificate accounts		3,238,576	3,140,333	3,139,821	3,064,613	98,243		98,755		173,963
Core deposits, total		21,625,194	20,630,310	20,543,379	20,098,765	994,884		1,081,815		1,526,429
Wholesale deposits		3,308	3,740	3,615	2,994	(432	)	(307	)	314
Deposits, total		21,628,502	20,634,050	20,546,994	20,101,759	994,452		1,081,508		1,526,743
Repurchase agreements		1,976,228	1,849,070	1,777,475	1,629,504	127,158		198,753		346,724
Deposits and repurchase agreements, total		23,604,730	22,483,120	22,324,469	21,731,263	1,121,610		1,280,261		1,873,467
Federal Home Loan Bank advances		1,255,088	1,520,000	1,800,000	2,350,000	(264,912	)	(544,912	)	(1,094,912	)
Other borrowed funds		81,771	82,443	83,341	88,149	(672	)	(1,570	)	(6,378	)
Subordinated debentures		157,127	133,145	133,105	133,024	23,982		24,022		24,103
Other liabilities		374,003	352,563	338,218	365,459	21,440		35,785		8,544
Total liabilities	$	25,472,719	24,571,271	24,679,133	24,667,895	901,448		793,586		804,824

Total deposits of $21.629 billion at June 30, 2025 increased $994 million, or 5 percent, from the prior quarter and increased $1.527 billion, or 8 percent, from the prior year second quarter. Non-interest bearing deposits of $6.594 billion increased $493 million, or 8 percent, from the prior quarter and organically increased $222 million, or 4 percent, from the prior quarter. Total repurchase agreements of $1.976 billion at June 30, 2025 increased $127 million, or 7 percent, from the prior quarter and increased $347 million, or 21 percent, from the prior year second quarter. Excluding acquisitions, total deposits and repurchase agreements organically increased $43 million, or 1 percent annualized, from the prior quarter and increased $394 million, or 2 percent, from the prior year second quarter. Non-interest bearing deposits represented 30 percent of total deposits at each of June 30, 2025, December 31, 2024 and June 30, 2024.

Subordinated debentures of $157 million, increased $24.0 million, or 18 percent, during the current quarter as a result of the acquisition of BOID. Federal Home Loan Bank (“FHLB”) advances of $1.255 billion decreased $265 million, or 17 percent, from the prior quarter and decreased $1.095 billion, or 47 percent, from the prior year second quarter.

Stockholders’ Equity Summary

										$ Change from
(Dollars in thousands, except per share data)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Common equity	$	3,776,043		3,550,719		3,533,150		3,492,096		225,324		242,893		283,947
Accumulated other comprehensive loss		(238,655	)	(263,111	)	(309,296	)	(354,651	)	24,456		70,641		115,996
Total stockholders’ equity		3,537,388		3,287,608		3,223,854		3,137,445		249,780		313,534		399,943
Goodwill and intangibles, net		(1,191,474	)	(1,099,229	)	(1,102,500	)	(1,066,790	)	(92,245	)	(88,974	)	(124,684	)
Tangible stockholders’ equity	$	2,345,914		2,188,379		2,121,354		2,070,655		157,535		224,560		275,259
Stockholders’ equity to total assets		12.19	%	11.80	%	11.55	%	11.28	%
Tangible stockholders’ equity to total tangible assets		8.43	%	8.18	%	7.92	%	7.74	%
Book value per common share	$	29.84		28.96		28.43		27.67		0.88		1.41		2.17
Tangible book value per common share	$	19.79		19.28		18.71		18.26		0.51		1.08		1.53

Tangible stockholders’ equity of $2.346 billion at June 30, 2025 increased $158 million, or 7 percent, compared to the prior quarter and was primarily due to $205 million of Company stock issued in connection with the acquisition of BOID. The increase was partially offset by the increase in goodwill and core deposits associated with the BOID acquisition. Tangible book value per common share of $19.79 at the current quarter end increased $0.51 per share, or 3 percent, from the prior quarter and increased $1.53 per share, or 8 percent, from the prior year second quarter.

Cash Dividends
On June 24, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable July 17, 2025 to shareholders of record on July 8, 2025. The dividend was the Company’s 161st consecutive regular dividend. Future cash dividends will depend on a variety of factors, including net income, capital, asset quality, general economic conditions and regulatory considerations.

Operating Results for Three Months Ended June 30, 2025
Compared to March 31, 2025, and June 30, 2024

Income Summary

	Three Months ended							$ Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Jun 30, 2024		Mar 31, 2025		Jun 30, 2024
Net interest income
Interest income	$	308,115		289,925		273,834		18,190		34,281
Interest expense		100,499		99,946		107,356		553		(6,857	)
Total net interest income		207,616		189,979		166,478		17,637		41,138
Non-interest income
Service charges and other fees		20,405		18,818		19,422		1,587		983
Miscellaneous loan fees and charges		5,067		4,664		4,821		403		246
Gain on sale of loans		4,273		4,311		4,669		(38	)	(396	)
Loss on sale of securities		—		—		(12	)	—		12
Other income		3,199		4,849		3,304		(1,650	)	(105	)
Total non-interest income		32,944		32,642		32,204		302		740
Total income	$	240,560		222,621		198,682		17,939		41,878
Net interest margin (tax-equivalent)		3.21	%	3.04	%	2.68	%

Net Interest Income
Net interest income of $208 million for the current quarter increased $17.6 million, or 9 percent, from the prior quarter net interest income of $190 million and increased $41.1 million, or 25 percent, from the prior year second quarter net interest income of $166 million. The current quarter interest income of $308 million increased $18.2 million, or 6 percent, over the prior quarter and increased $34.3 million, or 13 percent, over the prior year second quarter, both increases primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 5.86 percent in the current quarter increased 9 basis points from the prior quarter loan yield of 5.77 percent and increased 28 basis points from the prior year second quarter loan yield of 5.58 percent.

The current quarter interest expense of $100 million increased $553 thousand or 55 basis points, over the prior quarter and was primarily attributable to an increase in average deposit balances. The current quarter interest expense decreased $6.9 million, or 6 percent, over the prior year second quarter and was primarily the result of lower average wholesale borrowings and a decrease in deposit costs. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for both the current and prior quarters compared to 1.36 percent in the prior year second quarter. The total cost of funding (including non-interest bearing deposits) of 1.63 percent in the current quarter decreased 5 basis points from the prior quarter and decreased 17 basis points from the prior year second quarter.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 3.21 percent, an increase of 17 basis points from the prior quarter net interest margin of 3.04 percent and was primarily driven by an increase in loan yields and a decrease in total cost of funding. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was an increase of 53 basis points from the prior year second quarter net interest margin of 2.68 percent and was also primarily driven by the increase in loan yields and the decrease in total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 3 basis points from discount accretion, the core net interest margin was 3.18 percent in the current quarter compared to 2.99 percent in the prior quarter and 2.63 in the prior year second quarter. “Growth in the loan portfolio at higher yields, along with stable deposit costs and the reduction in higher cost FHLB borrowings contributed to the 17 basis points increase in the current quarter net interest margin,” said Ron Copher, Chief Financial Officer.

Non-interest Income
Non-interest income for the current quarter totaled $32.9 million, which was an increase of $302 thousand, or 1 percent, over the prior quarter and an increase of $740 thousand, or 2 percent, over the prior year second quarter. Service charges and other fees of $20.4 million for the current quarter increased $1.6 million, or 8 percent, compared to the prior quarter and increased $983 thousand, or 5 percent, compared to the prior year second quarter. Gain on the sale of residential loans of $4.3 million for the current quarter decreased $38 thousand, or 88 basis points, compared to the prior quarter and decreased $396 thousand, or 8 percent, from the prior year second quarter. Other income of $3.2 million decreased $1.7 million, or 34 percent, over the prior quarter primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the prior quarter.

Non-interest Expense Summary

	Three Months ended				$ Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Jun 30, 2024	Mar 31, 2025		Jun 30, 2024
Compensation and employee benefits	$	94,355	91,443	84,434	2,912		9,921
Occupancy and equipment		12,558	12,294	11,594	264		964
Advertising and promotions		4,394	4,144	4,362	250		32
Data processing		9,883	9,138	9,387	745		496
Other real estate owned and foreclosed assets		26	63	149	(37	)	(123	)
Regulatory assessments and insurance		5,847	5,534	5,393	313		454
Intangibles amortization		3,624	3,270	3,017	354		607
Other expenses		24,432	25,432	22,616	(1,000	)	1,816
Total non-interest expense	$	155,119	151,318	140,952	3,801		14,167

Total non-interest expense of $155 million for the current quarter increased $3.8 million, or 3 percent, over the prior quarter and increased $14.2 million, or 10 percent, over the prior year second quarter. Compensation and employee benefits of $94.4 million increased by $2.9 million, or 3 percent, over the prior quarter and was primarily attributable to increased costs from the acquisition. Compensation and employee benefits increased $9.9 million, or 12 percent, from the prior year second quarter and was primarily driven by annual salary increases and increases in staffing levels from current and prior year acquisitions.

Other expenses of $24.4 million decreased $1.0 million, or 4 percent, from the prior quarter and increased $1.8 million, or 8 percent, from the prior year second quarter. Acquisition-related expense was $3.2 million in the current quarter compared to $587 thousand in the prior quarter and $1.8 million in the prior year second quarter. The current quarter other expenses included $1.6 million of gain from the sale of a former branch facility compared to a $1.2 million gain in the prior quarter and a $2.0 million gain in the prior year second quarter.

Federal and State Income Tax Expense
Tax expense during the second quarter of 2025 was $12.4 million, an increase of $3.5 million, or 39 percent, compared to the prior quarter and an increase of $2.9 million, or 30 percent, from the prior year second quarter. The effective tax rate in the current quarter was 19.0 percent compared to 14.0 percent in the prior quarter and 17.5 percent in the prior year second quarter. The higher tax expense and higher effective tax rate in the current quarter compared to the prior quarter was the result of a combination of lower federal income tax credits and an increase in income before income tax expense in the current quarter.

Efficiency Ratio
The efficiency ratio was 62.08 percent in the current quarter compared to 65.49 percent in the prior quarter and 67.97 percent in the prior year second quarter. The decrease from the prior quarter and the prior year second quarter was principally driven by the increase in net interest income which outpaced the increase in non-interest expense.

Operating Results for Six Months Ended June 30, 2025
Compared to June 30, 2024

Income Summary

	Six Months ended
(Dollars in thousands)	Jun 30, 2025			Jun 30, 2024			$ Change			% Change
Net interest income
Interest income	$	598,040		$	553,236		$	44,804		8	%
Interest expense		200,445			220,278			(19,833	)	(9)	%
Total net interest income		397,595			332,958			64,637		19	%
Non-interest income
Service charges and other fees		39,223			37,985			1,238		3	%
Miscellaneous loan fees and charges		9,731			9,183			548		6	%
Gain on sale of loans		8,584			8,031			553		7	%
Gain on sale of securities		—			4			(4	)	(100)	%
Other income		8,048			6,990			1,058		15	%
Total non-interest income		65,586			62,193			3,393		5	%
Total Income	$	463,181		$	395,151		$	68,030		17	%
Net interest margin (tax-equivalent)		3.12	%		2.64	%

Net Interest Income
Net-interest income of $398 million for the first half of 2025 increased $64.6 million, or 19 percent, from the prior year and was primarily driven by increased interest income and decreased interest expense. Interest income of $598 million for the first half of 2025 increased $44.8 million, or 8 percent, from the prior year and was primarily attributable to the increase in the loan portfolio and an increase in loan yields. The loan yield was 5.82 percent during the first half of 2025, an increase of 30 basis points from the prior year first half loan yield of 5.52 percent.

Interest expense of $200 million for the first half of 2025 decreased $19.8 million, or 9 percent, over the same period in the prior year and was primarily the result of lower interest rates on deposits and a decrease in higher cost borrowings. Core deposit cost (including non-interest bearing deposits) was 1.25 percent for the first half of 2025, which was a decrease of 10 basis points over the first half of the prior year core deposit costs of 1.35 percent. The total funding cost (including non-interest bearing deposits) for the first half of 2025 was 1.65 percent, which was a decrease of 17 basis points over the first half of the prior year funding cost of 1.82 percent.

The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first half of 2025 was 3.12 percent, a 48 basis points increase from the net interest margin of 2.64 percent for the first half of the prior year. Excluding the 4 basis points from discount accretion, the core net interest margin was 3.08 percent in the first half of the current year compared to 2.60 percent in the prior year first half. The increase in net interest margin from the prior year was primarily driven by increased loan yields and decreased funding costs combined with a shift in earning asset mix to higher yielding loans and a shift in funding liabilities to lower cost deposits.

Non-interest Income
Non-interest income of $65.6 million for the first half of 2025 increased $3.4 million, or 5 percent, over the same period last year. Service charges and other fees of $39.2 million for the first half of 2025 increased $1.2 million, or 3 percent, over the first half of the prior year. Gain on sale of residential loans of $8.6 million for the first half of 2025 increased by $553 thousand, or 7 percent, over the first half of the prior year. Other income of $8.0 million for the first half of 2025 increased $1.1 million over the prior year first half and was primarily due to other income of $1.1 million related to bank owned life insurance proceeds in the current year.

Non-interest Expense Summary

	Six Months ended
(Dollars in thousands)	Jun 30, 2025		Jun 30, 2024		$ Change			% Change
Compensation and employee benefits	$	185,798	$	170,223	$	15,575		9	%
Occupancy and equipment		24,852		23,477		1,375		6	%
Advertising and promotions		8,538		8,345		193		2	%
Data processing		19,021		18,546		475		3	%
Other real estate owned and foreclosed assets		89		174		(85	)	(49)	%
Regulatory assessments and insurance		11,381		13,154		(1,773	)	(13)	%
Core deposit intangibles amortization		6,894		5,777		1,117		19	%
Other expenses		49,864		53,099		(3,235	)	(6)	%
Total non-interest expense	$	306,437	$	292,795	$	13,642		5	%

Total non-interest expense of $306 million for the first half of 2025 increased $13.6 million, or 5 percent, over the same period in the prior year. Compensation and employee benefits expense of $186 million in the first half of 2025 increased $15.6 million, or 9 percent, over the same period in the prior year and was primarily driven by annual salary increases and staffing increases from acquisitions. Regulatory assessment and insurance expense of $11.4 million for the first half of 2025 decreased $1.8 million, or 13 percent, from the prior year first half primarily as a result of adjustments to the FDIC special assessment. Other expenses of $49.9 million for the first half of 2025 decreased $3.2 million, or 6 percent, from the first half of the prior year and was primarily driven by a decrease of $3.7 million of acquisition-related expenses.

Provision for Credit Losses
The provision for credit loss expense was $28.1 million for the first half of 2025, an increase of $16.3 million, or 139 percent, over the same period in the prior year. Included in the current year provision for credit losses was $16.7 million from the acquisition of BOID and included in the prior year was $5.3 million from the acquisition of Wheatland Bank. Net charge-offs for the first half of 2025 were $3.4 million compared to $6.0 million in the first half of 2024.

Federal and State Income Tax Expense
Tax expense of $21.3 million for the first half of 2025 increased $8.1 million, or 61 percent, over the same period in the prior year. The effective tax rate for the first half of 2025 was 16.6 percent compared to 14.6 percent for the same period in the prior year. The increase in tax expense and the increase in the effective tax rate was the primarily the result of an increase in the pre-tax income.

Efficiency Ratio
The efficiency ratio was 63.72 percent for the first half of 2025 compared to 71.17 percent for the same period of 2024. The decrease from the prior year was primarily attributable to the increase in net interest income that outpaced the increase in non-interest expense.

Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “will,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:

risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
legislative or regulatory changes, including increased FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increased banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
risks related to overall economic conditions, including the impact on the economy of an uncertain interest rate environment, inflationary pressures, recently passed legislation and the potential for significant additional changes in economic and trade policies in the current administration;
risks to the Company’s business and the business of the Company’s customers arising from current or future tariffs or other trade restrictions, labor or supply chain issues, change in labor force, or geopolitical instability, including the wars in Ukraine and the Middle East;
risks associated with the Company’s ability to negotiate, complete, and successfully integrate pending or future acquisitions;
costs or difficulties related to the completion and integration of pending or recently completed acquisitions;
impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital;
reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition;
deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company’s ability to obtain and maintain customers;
changes in the competitive landscape, including as may result from new market entrants or further consolidation in the financial services industry, resulting in the creation of larger competitors with greater financial resources;
risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions;
risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions;
material failure, potential interruption or breach in security of the Company’s systems or changes in technology which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities;
risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events;
success in managing risks involved in any of the foregoing; and
effects of any reputational damage to the Company resulting from any of the foregoing.

The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.

Conference Call Information
A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, July 25, 2025. Please note that our conference call host no longer offers a general dial-in number. Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register-conf.media-server.com/register/BI39099c48cd94493cadee5c8f4fe748e5. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/zusost57.

About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. (NYSE: GBCI), a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its eight state Western U.S. footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).

CONTACT: Randall M. Chesler, CEO

(406) 751-4722

Ron J. Copher, CFO

(406) 751-7706

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Financial Condition

(Dollars in thousands, except per share data)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Assets
Cash on hand and in banks	$	375,398		322,253		268,746		271,107
Interest bearing cash deposits		540,109		659,232		579,662		529,672
Cash and cash equivalents		915,507		981,485		848,408		800,779
Debt securities, available-for-sale		4,024,980		4,172,312		4,245,205		4,499,541
Debt securities, held-to-maturity		3,206,133		3,261,575		3,294,847		3,400,403
Total debt securities		7,231,113		7,433,887		7,540,052		7,899,944
Loans held for sale, at fair value		47,738		40,523		33,060		39,745
Loans receivable		18,532,740		17,218,518		17,261,849		16,851,991
Allowance for credit losses		(226,799	)	(210,400	)	(206,041	)	(200,955	)
Loans receivable, net		18,305,941		17,008,118		17,055,808		16,651,036
Premises and equipment, net		426,801		411,095		411,968		391,266
Right-of-use assets, net		56,525		54,441		56,252		60,249
Other real estate owned and foreclosed assets		1,879		1,153		1,164		630
Accrued interest receivable		108,286		103,992		99,262		102,279
Deferred tax asset		114,528		122,942		138,955		155,834
Intangibles, net		64,949		47,911		51,182		43,028
Goodwill		1,126,525		1,051,318		1,051,318		1,023,762
Non-marketable equity securities		76,990		88,134		99,669		121,810
Bank-owned life insurance		191,623		191,044		189,849		187,793
Other assets		341,702		322,836		326,040		327,185
Total assets	$	29,010,107		27,858,879		27,902,987		27,805,340
Liabilities
Non-interest bearing deposits	$	6,593,728		6,100,548		6,136,709		6,093,430
Interest bearing deposits		15,034,774		14,533,502		14,410,285		14,008,329
Securities sold under agreements to repurchase		1,976,228		1,849,070		1,777,475		1,629,504
FHLB advances		1,255,088		1,520,000		1,800,000		2,350,000
Other borrowed funds		62,366		62,216		62,062		64,702
Finance lease liabilities		19,405		20,227		21,279		23,447
Subordinated debentures		157,127		133,145		133,105		133,024
Accrued interest payable		27,973		30,231		33,626		31,000
Operating lease liabilities		42,274		39,244		39,902		41,421
Other liabilities		303,756		283,088		264,690		293,038
Total liabilities		25,472,719		24,571,271		24,679,133		24,667,895
Commitments and Contingent Liabilities		—		—		—		—
Stockholders’ Equity
Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding		—		—		—		—
Common stock, $0.01 par value per share, 234,000,000 shares authorized		1,186		1,135		1,134		1,134
Paid-in capital		2,661,018		2,449,311		2,448,758		2,445,479
Retained earnings – substantially restricted		1,113,839		1,100,273		1,083,258		1,045,483
Accumulated other comprehensive loss		(238,655	)	(263,111	)	(309,296	)	(354,651	)
Total stockholders’ equity		3,537,388		3,287,608		3,223,854		3,137,445
Total liabilities and stockholders’ equity	$	29,010,107		27,858,879		27,902,987		27,805,340

Glacier Bancorp, Inc. Unaudited Condensed Consolidated Statements of Operations

	Three Months ended					Six Months ended
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Jun 30, 2024		Jun 30, 2025	Jun 30, 2024
Interest Income
Investment securities	$	44,148	45,646	42,165		89,794	98,383
Residential real estate loans		25,361	24,275	21,754		49,636	42,518
Commercial loans		214,816	197,388	188,326		412,204	369,798
Consumer and other loans		23,790	22,616	21,589		46,406	42,537
Total interest income		308,115	289,925	273,834		598,040	553,236
Interest Expense
Deposits		65,569	62,865	67,852		128,434	135,048
Securities sold under agreements to repurchase		14,109	13,733	13,566		27,842	26,164
Federal Home Loan Bank advances		17,806	20,719	24,179		38,525	28,428
FRB Bank Term Funding		—	—	—		—	27,097
Other borrowed funds		400	402	353		802	697
Subordinated debentures		2,615	2,227	1,406		4,842	2,844
Total interest expense		100,499	99,946	107,356		200,445	220,278
Net Interest Income		207,616	189,979	166,478		397,595	332,958
Provision for credit losses		20,267	7,814	3,518		28,081	11,767
Net interest income after provision for credit losses		187,349	182,165	162,960		369,514	321,191
Non-Interest Income
Service charges and other fees		20,405	18,818	19,422		39,223	37,985
Miscellaneous loan fees and charges		5,067	4,664	4,821		9,731	9,183
Gain on sale of loans		4,273	4,311	4,669		8,584	8,031
(Loss) gain on sale of securities		—	—	(12	)	—	4
Other income		3,199	4,849	3,304		8,048	6,990
Total non-interest income		32,944	32,642	32,204		65,586	62,193
Non-Interest Expense
Compensation and employee benefits		94,355	91,443	84,434		185,798	170,223
Occupancy and equipment		12,558	12,294	11,594		24,852	23,477
Advertising and promotions		4,394	4,144	4,362		8,538	8,345
Data processing		9,883	9,138	9,387		19,021	18,546
Other real estate owned and foreclosed assets		26	63	149		89	174
Regulatory assessments and insurance		5,847	5,534	5,393		11,381	13,154
Intangibles amortization		3,624	3,270	3,017		6,894	5,777
Other expenses		24,432	25,432	22,616		49,864	53,099
Total non-interest expense		155,119	151,318	140,952		306,437	292,795
Income Before Income Taxes		65,174	63,489	54,212		128,663	90,589
Federal and state income tax expense		12,393	8,921	9,504		21,314	13,254
Net Income	$	52,781	54,568	44,708		107,349	77,335

Glacier Bancorp, Inc. Average Balance Sheets

	Three Months ended
	June 30, 2025						March 31, 2025
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,940,514	$	25,361	5.23	%	$	1,885,497	$	24,275	5.15	%
Commercial loans ¹		14,884,885		216,385	5.83	%		14,091,210		198,921	5.73	%
Consumer and other loans		1,336,030		23,790	7.14	%		1,302,687		22,616	7.04	%
Total loans ²		18,161,429		265,536	5.86	%		17,279,394		245,812	5.77	%
Tax-exempt debt securities ³		1,594,895		13,999	3.51	%		1,604,851		13,936	3.47	%
Taxable debt securities ^{4, 5}		6,645,312		32,045	1.93	%		6,946,562		33,598	1.93	%
Total earning assets		26,401,636		311,580	4.73	%		25,830,807		293,346	4.61	%
Goodwill and intangibles		1,153,466						1,100,801
Non-earning assets		918,007						847,855
Total assets	$	28,473,109					$	27,779,463
Liabilities
Non-interest bearing deposits	$	6,256,245	$	—	—	%	$	5,989,490	$	—	—	%
NOW and DDA accounts		5,674,990		16,045	1.13	%		5,525,976		15,065	1.11	%
Savings accounts		2,904,389		5,402	0.75	%		2,861,675		5,159	0.73	%
Money market deposit accounts		3,000,487		15,389	2.06	%		2,849,470		13,526	1.93	%
Certificate accounts		3,211,418		28,667	3.58	%		3,152,198		29,075	3.74	%
Total core deposits		21,047,529		65,503	1.25	%		20,378,809		62,825	1.25	%
Wholesale deposits ⁶		5,618		66	4.67	%		3,600		40	4.53	%
Repurchase agreements		1,898,841		14,109	2.98	%		1,842,773		13,733	3.02	%
FHLB advances		1,494,781		17,806	4.71	%		1,744,000		20,719	4.75	%
Subordinated debentures and other borrowed funds		231,902		3,015	5.21	%		216,073		2,629	4.94	%
Total funding liabilities		24,678,671		100,499	1.63	%		24,185,255		99,946	1.68	%
Other liabilities		338,289						326,764
Total liabilities		25,016,960						24,512,019
Stockholders’ Equity
Stockholders’ equity		3,456,149						3,267,444
Total liabilities and stockholders’ equity	$	28,473,109					$	27,779,463
Net interest income (tax-equivalent)			$	211,081					$	193,400
Net interest spread (tax-equivalent)					3.10	%					2.93	%
Net interest margin (tax-equivalent)					3.21	%					3.04	%

______________________________

¹	Includes tax effect of $1.6 million and $1.5 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and March 31, 2025, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $1.7 million and $1.7 million on tax-exempt debt securities income for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁴	Includes interest income of $4.8 million and $6.1 million on average interest-bearing cash balances of $433.7 million and $559.5 million for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁵	Includes tax effect of $151 thousand and $150 thousand on federal income tax credits for the three months ended June 30, 2025 and March 31, 2025, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Average Balance Sheets (continued)

	Three Months ended
	June 30, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,940,514	$	25,361	5.23	%	$	1,796,787	$	21,754	4.84	%
Commercial loans ¹		14,884,885		216,385	5.83	%		13,740,455		189,939	5.56	%
Consumer and other loans		1,336,030		23,790	7.14	%		1,290,587		21,589	6.73	%
Total loans ²		18,161,429		265,536	5.86	%		16,827,829		233,282	5.58	%
Tax-exempt debt securities ³		1,594,895		13,999	3.51	%		1,707,269		15,111	3.54	%
Taxable debt securities ^{4, 5}		6,645,312		32,045	1.93	%		7,042,885		29,461	1.67	%
Total earning assets		26,401,636		311,580	4.73	%		25,577,983		277,854	4.37	%
Goodwill and intangibles		1,153,466						1,068,250
Non-earning assets		918,007						754,491
Total assets	$	28,473,109					$	27,400,724
Liabilities
Non-interest bearing deposits	$	6,256,245	$	—	—	%	$	6,026,709	$	—	—	%
NOW and DDA accounts		5,674,990		16,045	1.13	%		5,221,883		15,728	1.21	%
Savings accounts		2,904,389		5,402	0.75	%		2,914,538		6,014	0.83	%
Money market deposit accounts		3,000,487		15,389	2.06	%		2,904,438		14,467	2.00	%
Certificate accounts		3,211,418		28,667	3.58	%		3,037,638		31,593	4.18	%
Total core deposits		21,047,529		65,503	1.25	%		20,105,206		67,802	1.36	%
Wholesale deposits ⁶		5,618		66	4.67	%		3,726		50	5.50	%
Repurchase agreements		1,898,841		14,109	2.98	%		1,597,887		13,566	3.41	%
FHLB advances		1,494,781		17,806	4.71	%		2,007,747		24,179	4.76	%
Subordinated debentures and other borrowed funds		231,902		3,015	5.21	%		224,778		1,759	3.15	%
Total funding liabilities		24,678,671		100,499	1.63	%		23,939,344		107,356	1.80	%
Other liabilities		338,289						344,105
Total liabilities		25,016,960						24,283,449
Stockholders’ Equity
Stockholders’ equity		3,456,149						3,117,275
Total liabilities and stockholders’ equity	$	28,473,109					$	27,400,724
Net interest income (tax-equivalent)			$	211,081					$	170,498
Net interest spread (tax-equivalent)					3.10	%					2.57	%
Net interest margin (tax-equivalent)					3.21	%					2.68	%

______________________________

¹	Includes tax effect of $1.6 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended June 30, 2025 and 2024, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $1.7 million and $2.2 million on tax-exempt debt securities income for the three months ended June 30, 2025 and 2024, respectively.
⁴	Includes interest income of $4.8 million and $1.9 million on average interest-bearing cash balances of $433.7 million and $143.0 million for the three months ended June 30, 2025 and 2024, respectively.
⁵	Includes tax effect of $151 thousand and $211 thousand on federal income tax credits for the three months ended June 30, 2025 and 2024, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Average Balance Sheets (continued)

	Six Months ended
	June 30, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest & Dividends		Average Yield/ Rate		Average Balance		Interest & Dividends		Average Yield/ Rate
Assets
Residential real estate loans	$	1,913,157	$	49,636	5.19	%	$	1,771,985	$	42,518	4.80	%
Commercial loans ¹		14,490,240		415,306	5.78	%		13,626,941		372,984	5.50	%
Consumer and other loans		1,319,451		46,406	7.09	%		1,286,988		42,537	6.65	%
Total loans ²		17,722,848		511,348	5.82	%		16,685,914		458,039	5.52	%
Tax-exempt debt securities ³		1,599,845		27,935	3.49	%		1,713,819		30,268	3.53	%
Taxable debt securities ^{4, 5}		6,795,105		65,643	1.93	%		7,609,930		72,938	1.92	%
Total earning assets		26,117,798		604,926	4.67	%		26,009,663		561,245	4.34	%
Goodwill and intangibles		1,127,279						1,060,102
Non-earning assets		883,125						683,020
Total assets	$	28,128,202					$	27,752,785
Liabilities
Non-interest bearing deposits	$	6,123,604	$	—	—	%	$	5,996,627	$	—	—	%
NOW and DDA accounts		5,600,895		31,110	1.12	%		5,248,793		31,646	1.21	%
Savings accounts		2,883,150		10,561	0.74	%		2,907,594		11,669	0.81	%
Money market deposit accounts		2,925,396		28,915	1.99	%		2,926,366		28,860	1.98	%
Certificate accounts		3,181,971		57,742	3.66	%		3,019,176		62,768	4.18	%
Total core deposits		20,715,016		128,328	1.25	%		20,098,556		134,943	1.35	%
Wholesale deposits ⁶		4,615		106	4.62	%		3,846		105	5.50	%
Repurchase agreements		1,870,962		27,842	3.00	%		1,555,642		26,164	3.38	%
FHLB advances		1,618,702		38,525	4.73	%		1,179,251		28,428	4.77	%
FRB Bank Term Funding		—		—	—	%		1,241,538		27,097	4.39	%
Subordinated debentures and other borrowed funds		224,031		5,644	5.08	%		221,525		3,541	3.21	%
Total funding liabilities		24,433,326		200,445	1.65	%		24,300,358		220,278	1.82	%
Other liabilities		332,558						350,329
Total liabilities		24,765,884						24,650,687
Stockholders’ Equity
Stockholders’ equity		3,362,318						3,102,098
Total liabilities and stockholders’ equity	$	28,128,202					$	27,752,785
Net interest income (tax-equivalent)			$	404,481					$	340,967
Net interest spread (tax-equivalent)					3.02	%					2.52	%
Net interest margin (tax-equivalent)					3.12	%					2.64	%

______________________________

¹	Includes tax effect of $3.1 million and $3.2 million on tax-exempt municipal loan and lease income for the Six Months ended June 30, 2025 and 2024, respectively.
²	Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
³	Includes tax effect of $3.5 million and $4.4 million on tax-exempt debt securities income for the Six Months ended June 30, 2025 and 2024, respectively.
⁴	Includes interest income of $11.0 million and $17.2 million on average interest-bearing cash balances of $496.2 million and $631.7 million for the Six Months ended June 30, 2025 and 2024, respectively.
⁵	Includes tax effect of $301 thousand and $426 thousand on federal income tax credits for the Six Months ended June 30, 2025 and 2024, respectively.
⁶	Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

Glacier Bancorp, Inc. Loan Portfolio by Regulatory Classification

	Loans Receivable, by Loan Type									% Change from
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025			Dec 31, 2024			Mar 31, 2025		Dec 31, 2024
Custom and owner occupied construction	$	254,790		$	233,584		$	242,844		9	%	5	%
Pre-sold and spec construction		208,106			200,921			191,926		4	%	8	%
Total residential construction		462,896			434,505			434,770		7	%	6	%
Land development		176,925			177,448			197,369		—	%	(10)	%
Consumer land or lots		229,823			197,553			187,024		16	%	23	%
Unimproved land		127,550			115,528			113,532		10	%	12	%
Developed lots for operative builders		73,053			64,782			61,661		13	%	18	%
Commercial lots		175,929			95,574			99,243		84	%	77	%
Other construction		753,056			714,151			693,461		5	%	9	%
Total land, lot, and other construction		1,536,336			1,365,036			1,352,290		13	%	14	%
Owner occupied		3,529,536			3,182,589			3,197,138		11	%	10	%
Non-owner occupied		4,283,986			4,054,107			4,053,996		6	%	6	%
Total commercial real estate		7,813,522			7,236,696			7,251,134		8	%	8	%
Commercial and industrial		1,545,498			1,392,365			1,395,997		11	%	11	%
Agriculture		1,167,611			1,016,081			1,024,520		15	%	14	%
First lien		2,590,433			2,499,494			2,481,918		4	%	4	%
Junior lien		80,170			85,343			76,303		(6)	%	5	%
Total 1-4 family		2,670,603			2,584,837			2,558,221		3	%	4	%
Multifamily residential		975,785			874,071			895,242		12	%	9	%
Home equity lines of credit		1,048,595			989,043			1,005,783		6	%	4	%
Other consumer		197,744			188,388			209,457		5	%	(6)	%
Total consumer		1,246,339			1,177,431			1,215,240		6	%	3	%
States and political subdivisions		973,145			1,001,058			983,601		(3)	%	(1)	%
Other		188,743			176,961			183,894		7	%	3	%
Total loans receivable, including loans held for sale		18,580,478			17,259,041			17,294,909		8	%	7	%
Less loans held for sale ¹		(47,738	)		(40,523	)		(33,060	)	18	%	44	%
Total loans receivable	$	18,532,740		$	17,218,518		$	17,261,849		8	%	7	%

______________________________

¹	Loans held for sale are primarily first lien 1-4 family loans.

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification

	Non-performing Assets, by Loan Type					Non- Accrual Loans	Accruing Loans 90 Days or More Past Due	Other real estate owned and foreclosed assets
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025	Dec 31, 2024	Jun 30, 2024	Jun 30, 2025	Jun 30, 2025	Jun 30, 2025
Custom and owner occupied construction	$	235	194	198	206	189	46	—
Pre-sold and spec construction		2,806	2,896	2,132	2,908	2,043	763	—
Total residential construction		3,041	3,090	2,330	3,114	2,232	809	—
Land development		885	935	966	—	875	10	—
Consumer land or lots		460	173	78	429	164	296	—
Developed lots for operative builders		531	531	531	608	—	531	—
Commercial lots		47	47	47	47	—	47	—
Other construction		—	—	—	25	—	—	—
Total land, lot and other construction		1,923	1,686	1,622	1,109	1,039	884	—
Owner occupied		4,412	3,601	2,979	1,992	4,407	5	—
Non-owner occupied		1,206	2,235	2,235	257	—	—	1,206
Total commercial real estate		5,618	5,836	5,214	2,249	4,407	5	1,206
Commercial and Industrial		14,764	12,367	2,069	2,044	13,452	1,243	69
Agriculture		6,603	2,382	2,335	2,442	2,141	4,462	—
First lien		10,549	8,752	9,053	2,923	7,856	2,162	531
Junior lien		533	296	315	492	293	240	—
Total 1-4 family		11,082	9,048	9,368	3,415	8,149	2,402	531
Multifamily residential		398	400	389	385	398	—	—
Home equity lines of credit		4,016	3,479	3,465	2,145	2,834	1,182	—
Other consumer		921	1,003	955	1,089	704	144	73
Total consumer		4,937	4,482	4,420	3,234	3,538	1,326	73
Other		240	47	39	16	—	240	—
Total	$	48,606	39,338	27,786	18,008	35,356	11,371	1,879

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued)

	Accruing 30-89 Days Delinquent Loans, by Loan Type								% Change from
(Dollars in thousands)	Jun 30, 2025		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Mar 31, 2025		Dec 31, 2024		Jun 30, 2024
Custom and owner occupied construction	$	385	$	786	$	969	$	1,323	(51)	%	(60)	%	(71)	%
Pre-sold and spec construction		—		—		564		816	n/m		(100)	%	(100)	%
Total residential construction		385		786		1,533		2,139	(51)	%	(75)	%	(82)	%
Land development		170		—		1,450		—	n/m		(88)	%	n/m
Consumer land or lots		1,210		1,026		402		411	18	%	201	%	194	%
Unimproved land		75		32		36		158	134	%	108	%	(53)	%
Developed lots for operative builders		—		—		214		—	n/m		(100)	%	n/m
Commercial lots		—		189		—		21	(100)	%	n/m		(100)	%
Other construction		7,840		—		—		—	n/m		n/m		n/m
Total land, lot and other construction		9,295		1,247		2,102		590	645	%	342	%	1,475	%
Owner occupied		3,903		3,786		2,867		4,326	3	%	36	%	(10)	%
Non-owner occupied		13,806		346		5,037		8,119	3,890	%	174	%	70	%
Total commercial real estate		17,709		4,132		7,904		12,445	329	%	124	%	42	%
Commercial and industrial		6,711		5,358		6,194		17,591	25	%	8	%	(62)	%
Agriculture		8,243		5,731		744		5,288	44	%	1,008	%	56	%
First lien		3,583		14,826		6,326		2,637	(76)	%	(43)	%	36	%
Junior lien		—		1,023		214		17	(100)	%	(100)	%	(100)	%
Total 1-4 family		3,583		15,849		6,540		2,654	(77)	%	(45)	%	35	%
Home equity lines of credit		5,482		6,993		3,731		5,432	(22)	%	47	%	1	%
Other consumer		1,615		1,824		1,775		2,192	(11)	%	(9)	%	(26)	%
Total consumer		7,097		8,817		5,506		7,624	(20)	%	29	%	(7)	%
States and political subdivisions		—		3,220		—		—	(100)	%	n/m		n/m
Other		1,380		1,318		1,705		1,347	5	%	(19)	%	2	%
Total	$	54,403	$	46,458	$	32,228	$	49,678	17	%	69	%	10	%

______________________________

^{n/m – not measurable}

Glacier Bancorp, Inc. Credit Quality Summary by Regulatory Classification (continued)

	Net Charge-Offs (Recoveries), Year-to-Date Period Ending, By Loan Type									Charge-Offs	Recoveries
(Dollars in thousands)	Jun 30, 2025			Mar 31, 2025		Dec 31, 2024		Jun 30, 2024		Jun 30, 2025	Jun 30, 2025
Pre-sold and spec construction	$	50		—		(4	)	(4	)	51	1
Land development		(341	)	(341	)	1,095		(1	)	—	341
Consumer land or lots		(3	)	(3	)	(22	)	(22	)	—	3
Unimproved land		—		—		1,338		5		—	—
Commercial lots		—		—		319		319		—	—
Total land, lot and other construction		(344	)	(344	)	2,730		301		—	344
Owner occupied		(1	)	(1	)	(73	)	(73	)	—	1
Non-owner occupied		(8	)	(6	)	2		(2	)	—	8
Total commercial real estate		(9	)	(7	)	(71	)	(75	)	—	9
Commercial and industrial		26		92		1,422		644		827	801
Agriculture		(109	)	(1	)	64		68		—	109
First lien		(79	)	(69	)	32		(22	)	1	80
Junior lien		(137	)	(5	)	(65	)	(55	)	—	137
Total 1-4 family		(216	)	(74	)	(33	)	(77	)	1	217
Home equity lines of credit		(20	)	(20	)	69		1		10	30
Other consumer		656		276		1,078		493		789	133
Total consumer		636		256		1,147		494		799	163
Other		3,406		1,873		8,643		4,611		5,558	2,152
Total	$	3,440		1,795		13,898		5,962		7,236	3,796

Visit our website at www.glacierbancorp.com

The MIL Network –

July 25, 2025

MIL-OSI: MidWestOne Financial Group, Inc. Reports Financial Results for the Second Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

IOWA CITY, Iowa, July 24, 2025 (GLOBE NEWSWIRE) — MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“we,” “our,” or the “Company”) today reported results for the second quarter of 2025.

Second Quarter 2025 Summary¹

Pre-tax, pre-provision net revenue increased 15% to $24.5 million².
- Net interest margin (tax equivalent) was 3.57%²; core net interest margin expanded 13 basis points (“bps”) to 3.49%.²
- Noninterest income was $10.2 million.
- Noninterest expense was $35.8 million.
- Efficiency ratio improved to 56.20%² from 59.38%².
Net income of $10.0 million, or $0.48 per diluted common share, reflected credit loss expense of $11.9 million stemming primarily from a single commercial real estate (“CRE”) office credit.
Criticized loans ratio improved 32 bps to 5.15%.
Allowance for credit losses ratio increased to 1.50%, due primarily to the single CRE office credit.
Annualized loan growth of 7.4%.
Tangible book value per share of $23.92,² an increase of 2.4%.
Common equity tier 1 (“CET1”) capital ratio improved 5 bps to 11.02%.
Provided notice of redemption for all $65.0 million aggregate principal of the Company’s 5.75% fixed-to-floating rate subordinated notes due 2030 set to reprice on July 30^th.

CEO Commentary

Charles (Chip) Reeves, Chief Executive Officer of the Company, commented, “Due to the expertise of our MidWestOne team, we continued to execute well on our 2025 strategic initiatives. Strong loan growth and back book loan re-pricing led to tax equivalent net interest margin expansion of 13 basis points, to 3.57%², and to 5% linked quarter net interest income growth. Investments in our relationship fee income businesses continue to bear fruit with wealth management, Small Business Administration (“SBA”), and residential mortgage revenues up quarter over quarter.

We maintained our expense discipline even as we added significant customer facing talent in Denver and the Twin Cities, as well as invested in our platforms to drive internal efficiencies and improve the customer experience.

Earnings and certain asset quality measures were unfavorably impacted by a single $24 million suburban Twin Cities CRE office credit. The loan was originated in June 2022 and previously classified, but moved to nonaccrual in the second quarter. A receiver is in place, resolution efforts have begun, and a specific reserve was established, which led to an increase in our allowance for credit losses ratio to 1.50%.

Our balance sheet, capital, and underlying earnings strength position us well for the second half of 2025 as we continue to make significant progress in building a high-performing, relationship-driven community bank.”

__________________
¹_{Second Quarter Summary compares to the first quarter of 2025 (the “linked quarter”) unless noted.}
²_{Non-GAAP measure. See the separate Non-GAAP Measures section for a reconciliation to the most directly comparable GAAP measure.}

(Dollars in thousands, except per share amounts and as noted)	As of or for the quarter ended									Six Months Ended
	June 30,			March 31,			June 30,			June 30,			June 30,
		2025			2025			2024			2025			2024
Financial Results
Revenue	$	60,231		$	57,575		$	57,901		$	117,806		$	102,382
Credit loss expense		11,889			1,687			1,267			13,576			5,956
Noninterest expense		35,767			36,293			35,761			72,060			71,326
Net income		9,980			15,138			15,819			25,118			19,088
Pre-tax pre-provision net revenue⁽³⁾		24,464			21,282			22,140			45,746			31,056
Adjusted earnings⁽³⁾		10,176			15,301			8,132			25,479			12,621
Per Common Share
Diluted earnings per share	$	0.48		$	0.73		$	1.00		$	1.20		$	1.21
Adjusted earnings per share⁽³⁾		0.49			0.73			0.52			1.22			0.80
Book value		28.36			27.85			34.44			28.36			34.44
Tangible book value⁽³⁾		23.92			23.36			28.27			23.92			28.27
Balance Sheet & Credit Quality
Loans In millions	$	4,381.2		$	4,304.2		$	4,287.2		$	4,381.2		$	4,287.2
Investment securities In millions		1,235.0			1,305.5			1,824.1			1,235.0			1,824.1
Deposits In millions		5,388.1			5,489.1			5,412.4			5,388.1			5,412.4
Net loan charge-offs In millions		0.2			3.1			0.5			3.3			0.7
Allowance for credit losses ratio		1.50	%		1.25	%		1.26	%		1.50	%		1.26	%
Selected Ratios
Return on average assets		0.65	%		1.00	%		0.95	%		0.82	%		0.58	%
Net interest margin, tax equivalent⁽³⁾		3.57	%		3.44	%		2.41	%		3.51	%		2.37	%
Return on average equity		6.81	%		10.74	%		11.91	%		8.74	%		7.23	%
Return on average tangible equity⁽³⁾		8.84	%		13.75	%		15.74	%		11.24	%		9.98	%
Efficiency ratio⁽³⁾		56.20	%		59.38	%		56.29	%		57.75	%		62.83	%

REVENUE REVIEW

Revenue							Change		Change
Revenue							2Q25 vs		2Q25 vs
(Dollars in thousands)	2Q25		1Q25		2Q24		1Q25		2Q24
Net interest income	$	49,982	$	47,439	$	36,347	5	%	38	%
Noninterest income		10,249		10,136		21,554	1	%	(52)%
Total revenue, net of interest expense	$	60,231	$	57,575	$	57,901	5	%	4	%

Total revenue for the second quarter of 2025 increased $2.7 million from the first quarter of 2025 due to higher net interest income and noninterest income during the quarter. When compared to the second quarter of 2024, total revenue increased $2.3 million due to higher net interest income partially offset by lower noninterest income.

Net interest income of $50.0 million for the second quarter of 2025 increased $2.5 million from the first quarter of 2025 due to higher earning asset volumes and yields and lower funding costs, partially offset by higher funding volumes. When compared to the second quarter of 2024, net interest income increased $13.6 million due to higher earning asset yields and lower funding volumes and costs, partially offset by lower earning asset volumes.

The Company’s tax equivalent net interest margin was 3.57%³ in the second quarter of 2025, compared to 3.44%³ in the first quarter of 2025, driven by higher earning asset yields and lower interest bearing liability costs. Total earning asset yield increased 12 bps from the first quarter of 2025, primarily due to an increase of 10 bps in loan yield. Interest bearing liability costs during the second quarter of 2025 decreased 2 bps to 2.39%, primarily due to reductions in long-term debt costs and interest bearing deposits of 13 bps and 2 bps, to 6.28% and 2.29%, respectively, from the first quarter of 2025.

The Company’s tax equivalent net interest margin was 3.57%³ in the second quarter of 2025, compared to 2.41%³ in the second quarter of 2024, driven by higher earning asset yields and lower interest bearing liability costs. Total earning assets yield increased 75 bps from the second quarter of 2024, primarily due to increases of 189 bps and 12 bps in total investment securities and loan yields, respectively. Interest bearing liability costs decreased 46 bps to 2.39%, due to long-term debt costs of 6.28% and interest bearing deposit costs of 2.29%, which decreased 67 bps, and 25 bps, respectively, from the second quarter of 2024.

__________________
³_{Non-GAAP measure. See the separate Non-GAAP Measures section for a reconciliation to the most directly comparable GAAP measure.}

Noninterest Income									Change		Change
Noninterest Income									2Q25 vs		2Q25 vs
(Dollars in thousands)	2Q25			1Q25			2Q24		1Q25		2Q24
Investment services and trust activities	$	3,705		$	3,544		$	3,504	5	%	6	%
Service charges and fees		2,190			2,131			2,156	3	%	2	%
Card revenue		1,934			1,744			1,907	11	%	1	%
Loan revenue		1,417			1,194			1,525	19	%	(7)%
Bank-owned life insurance		677			1,057			668	(36)%		1	%
Investment securities gains, net		—			33			33	(100)%		(100)%
Other		326			433			11,761	(25)%		(97)%
Total noninterest income	$	10,249		$	10,136		$	21,554	1	%	(52)%

MSR adjustment (included above in Loan revenue)	$	(264	)	$	(213	)	$	129	24	%	(305)%

Noninterest income for the second quarter of 2025 increased $0.1 million from the linked quarter, primarily due to increases of $0.2 million each in loan revenue, card revenue, and investment services and trust activities revenue. The increase in loan revenue was due primarily to a $0.2 million increase in mortgage origination fee revenue, coupled with an increase of $0.2 million in SBA gain on sale revenue. The increase in card revenue was driven primarily by higher interchange fee income. The increase in investment services and trust activities revenue was driven by higher assets under administration. Partially offsetting these increases was a decline of $0.4 million in bank-owned life insurance revenue stemming from the death benefit recognized in the first quarter of 2025.

Noninterest income for the second quarter of 2025 decreased $11.3 million from the second quarter of 2024 primarily due to the decline in other revenue stemming from the $11.1 million gain realized in connection with the sale of our Florida banking operations in the second quarter of 2024. Also contributing to the decline in noninterest income was a $0.4 million unfavorable change in the fair value of our mortgage servicing rights, which is included in loan revenue, and a decline of $0.4 million in swap origination fee income, which is recorded in other revenue. Partially offsetting these declines was an increase of $0.2 million in investment services and trust activities revenue, driven by higher assets under administration.

EXPENSE REVIEW

Noninterest Expense							Change		Change
Noninterest Expense							2Q25 vs		2Q25 vs
(Dollars in thousands)	2Q25		1Q25		2Q24		1Q25		2Q24
Compensation and employee benefits	$	21,011	$	21,212	$	20,985	(1)%		—	%
Occupancy expense of premises, net		2,540		2,588		2,435	(2)%		4	%
Equipment		2,550		2,426		2,530	5	%	1	%
Legal and professional		2,153		2,226		2,253	(3)%		(4)%
Data processing		1,486		1,698		1,645	(12)%		(10)%
Marketing		762		552		636	38	%	20	%
Amortization of intangibles		1,252		1,408		1,593	(11)%		(21)%
FDIC insurance		851		917		1,051	(7)%		(19)%
Communications		161		159		191	1	%	(16)%
Foreclosed assets, net		83		74		138	12	%	(40)%
Other		2,918		3,033		2,304	(4)%		27	%
Total noninterest expense	$	35,767	$	36,293	$	35,761	(1)%		—	%

Merger-related Expenses
Merger-related Expenses
(Dollars in thousands)	2Q25		1Q25		2Q24
Compensation and employee benefits	$	—	$	—	$	73
Equipment		—		—		28
Legal and professional		—		40		462
Data processing		—		—		251
Communications		—		—		8
Other		—		—		32
Total merger-related expenses	$	—	$	40	$	854

Noninterest expense for the second quarter of 2025 decreased $0.5 million from the linked quarter, primarily due to decreases of $0.2 million each in data processing, compensation and employee benefits, and amortization of intangibles. The decrease in data processing was primarily driven by a decrease in core banking system costs. The decrease in compensation and employee benefits reflected the receipt of $1.1 million from Employee Retention Credit claims, which was partially offset by higher wage, equity compensation and employee benefits expense.

Noninterest expense for the second quarter of 2025 compared to the prior year was stable at $35.8 million. The $0.6 million increase in other noninterest expense stemmed primarily from customer deposits costs. Further, excluding merger-related expenses, legal and professional costs increased $0.4 million due primarily to higher litigation-related legal expenses. Those increases were partially offset by lower intangible amortization and FDIC insurance costs, which decreased $0.3 million and $0.2 million, respectively.

The Company’s effective tax rate was 20.6% in the second quarter of 2025, compared to 22.7% in the linked quarter. The effective income tax rate for the full year 2025 is expected to be 22-23%.

BALANCE SHEET REVIEW

Total assets were $6.16 billion at June 30, 2025, compared to $6.25 billion at March 31, 2025 and $6.58 billion at June 30, 2024. The decrease from March 31, 2025 was primarily due to lower cash and security volumes, partially offset by higher loan volumes. Compared to June 30, 2024, the decrease was primarily driven by lower security volumes, partially offset by higher loan volumes.

Loans Held for Investment (Dollars in thousands)	June 30, 2025				March 31, 2025				June 30, 2024
Loans Held for Investment (Dollars in thousands)	Balance		% of Total		Balance		% of Total		Balance		% of Total
Commercial and industrial	$	1,226,265	28.0	%	$	1,140,138	26.5	%	$	1,120,983	26.1	%
Agricultural		128,717	2.9			131,409	3.1			107,983	2.5
Commercial real estate
Construction and development		280,918	6.4			293,280	6.8			351,646	8.2
Farmland		186,494	4.3			180,633	4.2			183,641	4.3
Multifamily		438,193	10.0			421,204	9.8			430,054	10.0
Other		1,407,469	32.1			1,425,062	33.0			1,348,515	31.5
Total commercial real estate		2,313,074	52.8			2,320,179	53.8			2,313,856	54.0
Residential real estate
One-to-four family first liens		467,970	10.7			471,688	11.0			492,541	11.5
One-to-four family junior liens		188,671	4.3			182,346	4.2			176,105	4.1
Total residential real estate		656,641	15.0			654,034	15.2			668,646	15.6
Consumer		56,491	1.3			58,424	1.4			75,764	1.8
Loans held for investment, net of unearned income	$	4,381,188	100.0	%	$	4,304,184	100.0	%	$	4,287,232	100.0	%

Total commitments to extend credit	$	1,074,935			$	1,080,300			$	1,200,605

Loans held for investment, net of unearned income at June 30, 2025 were $4.38 billion, increasing $77.0 million, or 1.8%, from $4.30 billion at March 31, 2025 and increasing $94.0 million, or 2.2%, from $4.29 billion at June 30, 2024. The increases across both periods were primarily driven by organic loan growth and higher line of credit usage.

Investment Securities(Dollars in thousands)	June 30, 2025				March 31, 2025				June 30, 2024
Investment Securities(Dollars in thousands)	Balance		% of Total		Balance		% of Total		Balance		% of Total
Available for sale	$	1,235,045	100.0	%	$	1,305,530	100.0	%	$	771,034	42.3	%
Held to maturity		—	—	%		—	—	%		1,053,080	57.7	%
Total investment securities	$	1,235,045			$	1,305,530			$	1,824,114

Investment securities at June 30, 2025 were $1.24 billion, decreasing $70.5 million from March 31, 2025 and decreasing $589.1 million from June 30, 2024. The decrease from the first quarter of 2025 was primarily due to principal cash flows received from scheduled payments, calls, and maturities. The decrease from the second quarter of 2024 stemmed primarily from the sale of debt securities in connection with a balance sheet repositioning, as well as principal cash flows received from scheduled payments, calls, and maturities.

Deposits	June 30, 2025				March 31, 2025				June 30, 2024
(Dollars in thousands)	Balance		% of Total		Balance		% of Total		Balance		% of Total
Noninterest bearing deposits	$	910,693	16.9	%	$	903,714	16.5	%	$	882,472	16.3	%
Interest checking deposits		1,206,096	22.5			1,283,328	23.3			1,284,243	23.7
Money market deposits		971,048	18.0			1,002,066	18.3			1,043,376	19.3
Savings deposits		851,636	15.8			877,348	16.0			745,639	13.8
Time deposits of $250 and under		837,302	15.5			818,012	14.9			803,301	14.8
Total core deposits		4,776,775	88.7			4,884,468	89.0			4,759,031	87.9
Brokered time deposits		200,000	3.7			200,000	3.6			196,000	3.6
Time deposits over $250		411,323	7.6			404,674	7.4			457,388	8.5
Total deposits	$	5,388,098	100.0	%	$	5,489,142	100.0	%	$	5,412,419	100.0	%

Total deposits at June 30, 2025 were $5.39 billion, decreasing $101.0 million, or 1.8%, from $5.49 billion at March 31, 2025, and decreasing $24.3 million, or 0.4%, from $5.41 billion at June 30, 2024. Noninterest bearing deposits at June 30, 2025 were $910.7 million, an increase of $7.0 million from March 31, 2025 and an increase of $28.2 million from June 30, 2024.

Borrowed Funds	June 30, 2025				March 31, 2025				June 30, 2024
(Dollars in thousands)	Balance		% of Total		Balance		% of Total		Balance		% of Total
Short-term borrowings	$	—	—	%	$	1,482	1.3	%	$	414,684	78.3	%
Long-term debt		112,320	100.0	%		111,398	98.7	%		114,839	21.7	%
Total borrowed funds	$	112,320			$	112,880			$	529,523

Borrowed funds were $112.3 million at June 30, 2025, a decrease of $0.6 million from March 31, 2025 and a decrease of $417.2 million from June 30, 2024. The decrease compared to the linked quarter was due primarily to lower securities sold under agreements to repurchase. The decrease compared to June 30, 2024 was primarily due to the pay-off of $405.0 million of BTFP borrowings and scheduled payments on long-term debt.

In June 2025, the Company provided notice to the trustee of its intent to redeem all $65.0 million aggregate principal of its 5.75% fixed-to-floating rate subordinated notes due 2030. To complete the redemption, the Company expects to utilize a combination of cash on hand and proceeds from a $50.0 million senior term note. The senior term note is expected to be structured as a 5-year maturity, 7-year amortization facility, and bear interest at a floating rate of 1-month term SOFR plus 1.75%. The financing pursuant to the senior note is expected to close on July 29, 2025, and the redemption is expected to occur on July 30, 2025.

Capital	June 30,			March 31,			June 30,
(Dollars in thousands)	2025 ⁽¹⁾				2025			2024
Total shareholders’ equity	$	589,040		$	579,625		$	543,286
Accumulated other comprehensive loss		(57,557	)		(63,098	)		(58,135	)
*MidWestOne* Financial Group, Inc. Consolidated**
Tier 1 leverage to average assets ratio		9.62	%		9.50	%		8.29	%
Common equity tier 1 capital to risk-weighted assets ratio		11.02	%		10.97	%		9.56	%
Tier 1 capital to risk-weighted assets ratio		11.88	%		11.84	%		10.35	%
Total capital to risk-weighted assets ratio		14.44	%		14.34	%		12.62	%
*MidWestOne* Bank**
Tier 1 leverage to average assets ratio		10.43	%		10.42	%		9.24	%
Common equity tier 1 capital to risk-weighted assets ratio		12.95	%		13.02	%		11.55	%
Tier 1 capital to risk-weighted assets ratio		12.95	%		13.02	%		11.55	%
Total capital to risk-weighted assets ratio		14.20	%		14.21	%		12.61	%
⁽¹⁾ Regulatory capital ratios for June 30, 2025 are preliminary

Total shareholders’ equity at June 30, 2025 increased $9.4 million from March 31, 2025, driven primarily by a decrease in accumulated other comprehensive loss and an increase in retained earnings, partially offset by an increase in treasury stock. Total shareholders’ equity at June 30, 2025 increased $45.8 million from June 30, 2024, primarily due to increases in common stock and additional paid-in-capital stemming from the common equity capital raise in the third quarter of 2024, and partially offset by a decrease in retained earnings.

On July 22, 2025, the Board of Directors of the Company declared a cash dividend of $0.2425 per common share. The dividend is payable September 16, 2025, to shareholders of record at the close of business on September 2, 2025.

The current share repurchase program allows for the repurchase of up to $15.0 million of the Company’s common shares. Under such program, the Company repurchased 63,402 shares of its common stock at an average price of $27.65 per share and a total cost of $1.8 million during the period March 31, 2025 through June 30, 2025. No shares were repurchased during the subsequent period through July 24, 2025. As of June 30, 2025, $13.2 million remained available under this program.

CREDIT QUALITY REVIEW

Credit Quality	As of or For the Three Months Ended
Credit Quality	June 30,			March 31,			June 30,
(Dollars in thousands)		2025			2025			2024
Credit loss expense related to loans	$	12,089		$	1,787		$	467
Net charge-offs		189			3,087			524
Allowance for credit losses		65,800			53,900			53,900
Pass	$	4,155,385		$	4,068,707		$	3,991,692
Special Mention		98,998			121,494			146,253
Classified		126,805			113,983			149,287
Criticized		225,803			235,477			295,540
Loans greater than 30 days past due and accruing	$	12,161		$	6,119		$	9,358
Nonperforming loans	$	37,192		$	17,470		$	25,128
Nonperforming assets		40,606			20,889			31,181
Net charge-off ratio⁽¹⁾		0.02	%		0.29	%		0.05	%
Classified loans ratio⁽²⁾		2.89	%		2.65	%		3.48	%
Criticized loans ratio⁽³⁾		5.15	%		5.47	%		6.89	%
Nonperforming loans ratio⁽⁴⁾		0.85	%		0.41	%		0.59	%
Nonperforming assets ratio⁽⁵⁾		0.66	%		0.33	%		0.47	%
Allowance for credit losses ratio⁽⁶⁾		1.50	%		1.25	%		1.26	%
Allowance for credit losses to nonaccrual loans ratio⁽⁷⁾		179.19	%		309.47	%		218.26	%
⁽¹⁾ Net charge-off ratio is calculated as annualized net charge-offs divided by the sum of average loans held for investment, net of unearned income and average loans held for sale, during the period.
⁽²⁾ Classified loans ratio is calculated as classified loans divided by loans held for investment, net of unearned income, at the end of the period.
⁽³⁾ Criticized loans ratio is calculated as criticized loans divided by loans held for investment, net of unearned income, at the end of the period.
⁽⁴⁾ Nonperforming loans ratio is calculated as nonperforming loans divided by loans held for investment, net of unearned income, at the end of the period.
⁽⁵⁾ Nonperforming assets ratio is calculated as nonperforming assets divided by total assets at the end of the period.
⁽⁶⁾ Allowance for credit losses ratio is calculated as allowance for credit losses divided by loans held for investment, net of unearned income, at the end of the period.
⁽⁷⁾ Allowance for credit losses to nonaccrual loans ratio is calculated as allowance for credit losses divided by nonaccrual loans at the end of the period.

Compared to the linked quarter, both nonperforming loans and nonperforming assets increased $19.7 million, primarily due to a single $24.0 million CRE office credit, partially offset by the sale of a $3.9 million CRE office credit. Special mention loan balances decreased $22.5 million, or 19%, while classified loan balances increased $12.8 million, or 11%. Compared to the prior year period, nonperforming loans and nonperforming assets increased $12.1 million and $9.4 million, respectively. Special mention loan balances decreased $47.3 million, or 32%, while classified loan balances decreased $22.5 million, or 15%. The net charge-off ratio declined 27 bps from the linked quarter and 3 bps from the same period in the prior year.

As of June 30, 2025, the allowance for credit losses was $65.8 million and the allowance for credit losses ratio was 1.50%, compared with $53.9 million and 1.25%, respectively, at March 31, 2025. Credit loss expense of $11.9 million in the second quarter of 2025 primarily reflected the specific reserve established in connection with the single CRE office credit previously discussed.

Nonperforming Loans Roll Forward (Dollars in thousands)	Nonaccrual			90+ Days Past Due & Still Accruing			Total
Balance at March 31, 2025	$	17,417		$	53		$	17,470
Loans placed on nonaccrual or 90+ days past due & still accruing		25,279			569			25,848
Proceeds related to repayment or sale		(4,973	)		—			(4,973	)
Loans returned to accrual status or no longer past due		(632	)		—			(632	)
Charge-offs		(187	)		(151	)		(338	)
Transfers to foreclosed assets		(183	)		—			(183	)
Balance at June 30, 2025	$	36,721		$	471		$	37,192

CONFERENCE CALL DETAILS

The Company will host a conference call for investors at 11:00 a.m. CT on Friday, July 25, 2025. To participate, you may pre-register for this call utilizing the following link: https://www.netroadshow.com/events/login?show=a6070726&confId=80381. After pre-registering for this event you will receive your access details via email. On the day of the call, you are also able to dial 1-833-470-1428 using an access code of 293794 at least fifteen minutes before the call start time. If you are unable to participate on the call, a replay will be available until October 23, 2025 by calling 1-866-813-9403 and using the replay access code of 763204. A transcript of the call will also be available on the Company’s web site (www.midwestonefinancial.com) within three business days of the call.

ABOUT MIDWESTONE FINANCIAL GROUP, INC.

MidWestOne Financial Group, Inc. is a financial holding company headquartered in Iowa City, Iowa. MidWestOne is the parent company of MidWestOne Bank, which operates banking offices in Iowa, Minnesota, Wisconsin, and Colorado. MidWestOne provides electronic delivery of financial services through its website, MidWestOne.bank. MidWestOne Financial Group, Inc. trades on the Nasdaq Global Select Market under the symbol “MOFG”.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We and our representatives may, from time to time, make written or oral statements that are “forward-looking” and provide information other than historical information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the factors listed below. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “should,” “could,” “would,” “plans,” “goals,” “intend,” “project,” “estimate,” “forecast,” “may” or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, these statements. Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Additionally, we undertake no obligation to update any statement in light of new information or future events, except as required under federal securities law.

Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors that could have an impact on our ability to achieve operating results, growth plan goals and future prospects include, but are not limited to, the following: (1) the effects of changes in interest rates, including on our net income and the value of our securities portfolio; (2) fluctuations in the value of our investment securities; (3) effects on the U.S. economy resulting from the implementation of proposed policies and executive orders, including the imposition of tariffs, changes in immigration policy, changes to regulatory or other governmental agencies, DEI and ESG initiative trends, changes in consumer protection policies, changes in foreign policy and tax regulations; (4) volatility of rate-sensitive deposits; (5) asset/liability matching risks and liquidity risks; (6) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (7) the concentration of large deposits from certain clients, including those who have balances above current FDIC insurance limits; (8) credit quality deterioration, pronounced and sustained reduction in real estate market values, or other uncertainties, including the impact of inflationary pressures and future monetary policies of the Federal Reserve in response thereto on economic conditions and our business, resulting in an increase in the allowance for credit losses, an increase in the credit loss expense, and a reduction in net earnings; (9) the sufficiency of the allowance for credit losses to absorb the amount of expected losses inherent in our existing loan portfolio; (10) the failure of assumptions underlying the establishment of allowances for credit losses and estimation of values of collateral and various financial assets and liabilities; (11) credit risks and risks from concentrations (by type of borrower, collateral, geographic area and by industry) within our loan portfolio; (12) changes in the economic environment, competition, or other factors that may affect our ability to acquire loans or influence the anticipated growth rate of loans and deposits and the quality of the loan portfolio and loan and deposit pricing; (13) governmental monetary and fiscal policies; (14) new or revised general economic, political, or industry conditions, nationally, internationally or in the communities in which we conduct business, including the risk of a recession; (15) the imposition of domestic or foreign tariffs or other governmental policies impacting the global supply chain and value of the agricultural or other products of our borrowers; (16) war or terrorist activities, including ongoing conflicts in the Middle East and the Russian invasion of Ukraine, widespread disease or pandemic, or other adverse external events, which may cause deterioration in the economy or cause instability in credit markets; (17) legislative and regulatory changes, including changes in banking, securities, trade, and tax laws and regulations and their application by our regulators, and including changes in interpretation or prioritization of such laws and regulations; (18) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies and the Financial Accounting Standards Board; (19) the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds, financial technology companies, and other financial institutions operating in our markets or elsewhere or providing similar services; (20) changes in the business and economic conditions generally and in the financial services industry, and the effects of recent developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in prior bank failures; (21) the occurrence of fraudulent activity, breaches, or failures of our or our third party vendors’ information security controls or cyber-security related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (22) the ability to attract and retain key executives and employees experienced in banking and financial services; (23) our ability to adapt successfully to technological changes implemented by us and other parties in the financial services industry, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequence to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (24) operational risks, including data processing system failures and fraud; (25) the costs, effects and outcomes of existing or future litigation or other legal proceedings and regulatory actions; (26) the risks of mergers or branch sales (including the sale of our Florida banking operations and the acquisition of Denver Bankshares, Inc.), including, without limitation, the related time and costs of implementing such transactions, integrating operations as part of these transactions and possible failures to achieve expected gains, revenue growth and/or expense savings from such transactions; (27) the economic impacts on the Company and its customers of climate change, natural disasters and exceptional weather occurrences, such as: tornadoes, floods and blizzards; and (28) other risk factors detailed from time to time in Securities and Exchange Commission filings made by the Company.

MIDWESTONE FINANCIAL GROUP, INC.
FIVE QUARTER CONSOLIDATED BALANCE SHEETS

	June 30,			March 31,			December 31,			September 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2024			2024
ASSETS
Cash and due from banks	$	78,696		$	68,545		$	71,803		$	72,173		$	66,228
Interest earning deposits in banks		90,749			182,360			133,092			129,695			35,340
Total cash and cash equivalents		169,445			250,905			204,895			201,868			101,568
Debt securities available for sale at fair value		1,235,045			1,305,530			1,328,433			1,623,104			771,034
Held to maturity securities at amortized cost		—			—			—			—			1,053,080
Total securities		1,235,045			1,305,530			1,328,433			1,623,104			1,824,114
Loans held for sale		16,812			13,836			749			3,283			2,850
Gross loans held for investment		4,391,426			4,315,546			4,328,413			4,344,559			4,304,619
Unearned income, net		(10,238	)		(11,362	)		(12,786	)		(15,803	)		(17,387	)
Loans held for investment, net of unearned income		4,381,188			4,304,184			4,315,627			4,328,756			4,287,232
Allowance for credit losses		(65,800	)		(53,900	)		(55,200	)		(54,000	)		(53,900	)
Total loans held for investment, net		4,315,388			4,250,284			4,260,427			4,274,756			4,233,332
Premises and equipment, net		89,910			90,031			90,851			90,750			91,793
Goodwill		69,788			69,788			69,788			69,788			69,388
Other intangible assets, net		22,359			23,611			25,019			26,469			27,939
Foreclosed assets, net		3,414			3,419			3,337			3,583			6,053
Other assets		238,612			246,990			252,830			258,881			224,621
Total assets	$	6,160,773		$	6,254,394		$	6,236,329		$	6,552,482		$	6,581,658
LIABILITIES
Noninterest bearing deposits	$	910,693		$	903,714		$	951,423		$	917,715		$	882,472
Interest bearing deposits		4,477,405			4,585,428			4,526,559			4,451,012			4,529,947
Total deposits		5,388,098			5,489,142			5,477,982			5,368,727			5,412,419
Short-term borrowings		—			1,482			3,186			410,630			414,684
Long-term debt		112,320			111,398			113,376			115,051			114,839
Other liabilities		71,315			72,747			82,089			95,836			96,430
Total liabilities		5,571,733			5,674,769			5,676,633			5,990,244			6,038,372
SHAREHOLDERS’ EQUITY
Common stock		21,580			21,580			21,580			21,580			16,581
Additional paid-in capital		414,485			414,258			414,987			414,965			300,831
Retained earnings		232,718			227,790			217,776			206,490			306,030
Treasury stock		(22,186	)		(20,905	)		(21,885	)		(21,955	)		(22,021	)
Accumulated other comprehensive loss		(57,557	)		(63,098	)		(72,762	)		(58,842	)		(58,135	)
Total shareholders’ equity		589,040			579,625			559,696			562,238			543,286
Total liabilities and shareholders’ equity	$	6,160,773		$	6,254,394		$	6,236,329		$	6,552,482		$	6,581,658

MIDWESTONE FINANCIAL GROUP, INC.
FIVE QUARTER CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended											Six Months Ended
(Dollars in thousands, except per share data)	June 30,		March 31,		December 31,		September 30,			June 30,		June 30,		June 30,
(Dollars in thousands, except per share data)		2025		2025		2024		2024			2024		2025		2024
Interest income
Loans, including fees	$	62,276	$	59,462	$	62,458	$	62,521		$	61,643	$	121,738	$	119,590
Taxable investment securities		12,928		13,327		11,320		8,779			9,228		26,255		18,688
Tax-exempt investment securities		699		703		728		1,611			1,663		1,402		3,373
Other		1,517		1,247		3,761		785			242		2,764		660
Total interest income		77,420		74,739		78,267		73,696			72,776		152,159		142,311
Interest expense
Deposits		25,665		25,484		27,324		29,117			28,942		51,149		56,668
Short-term borrowings		19		25		115		5,043			5,409		44		10,384
Long-term debt		1,754		1,791		1,890		2,015			2,078		3,545		4,181
Total interest expense		27,438		27,300		29,329		36,175			36,429		54,738		71,233
Net interest income		49,982		47,439		48,938		37,521			36,347		97,421		71,078
Credit loss expense		11,889		1,687		1,291		1,535			1,267		13,576		5,956
Net interest income after credit loss expense		38,093		45,752		47,647		35,986			35,080		83,845		65,122
Noninterest income
Investment services and trust activities		3,705		3,544		3,779		3,410			3,504		7,249		7,007
Service charges and fees		2,190		2,131		2,159		2,170			2,156		4,321		4,300
Card revenue		1,934		1,744		1,833		1,935			1,907		3,678		3,850
Loan revenue		1,417		1,194		1,841		760			1,525		2,611		2,381
Bank-owned life insurance		677		1,057		719		879			668		1,734		1,328
Investment securities gains (losses), net		—		33		161		(140,182	)		33		33		69
Other		326		433		345		640			11,761		759		12,369
Total noninterest income (loss)		10,249		10,136		10,837		(130,388	)		21,554		20,385		31,304
Noninterest expense
Compensation and employee benefits		21,011		21,212		20,684		19,943			20,985		42,223		41,915
Occupancy expense of premises, net		2,540		2,588		2,772		2,443			2,435		5,128		5,248
Equipment		2,550		2,426		2,688		2,486			2,530		4,976		5,130
Legal and professional		2,153		2,226		2,534		2,261			2,253		4,379		4,312
Data processing		1,486		1,698		1,719		1,580			1,645		3,184		3,005
Marketing		762		552		793		619			636		1,314		1,234
Amortization of intangibles		1,252		1,408		1,449		1,470			1,593		2,660		3,230
FDIC insurance		851		917		980		923			1,051		1,768		1,993
Communications		161		159		154		159			191		320		387
Foreclosed assets, net		83		74		56		330			138		157		496
Other		2,918		3,033		3,543		3,584			2,304		5,951		4,376
Total noninterest expense		35,767		36,293		37,372		35,798			35,761		72,060		71,326
Income (loss) before income tax expense (benefit)		12,575		19,595		21,112		(130,200	)		20,873		32,170		25,100
Income tax expense (benefit)		2,595		4,457		4,782		(34,493	)		5,054		7,052		6,012
Net income (loss)	$	9,980	$	15,138	$	16,330	$	(95,707	)	$	15,819	$	25,118	$	19,088

Earnings (loss) per common share
Basic	$	0.48	$	0.73	$	0.79	$	(6.05	)	$	1.00	$	1.21	$	1.21
Diluted	$	0.48	$	0.73	$	0.78	$	(6.05	)	$	1.00	$	1.20	$	1.21
Weighted average basic common shares outstanding		20,816		20,797		20,776		15,829			15,763		20,807		15,743
Weighted average diluted common shares outstanding		20,843		20,849		20,851		15,829			15,781		20,846		15,775
Dividends paid per common share	$	0.2425	$	0.2425	$	0.2425	$	0.2425		$	0.2425	$	0.4850	$	0.4850

MIDWESTONE FINANCIAL GROUP, INC.
FINANCIAL STATISTICS

	As of or for the Three Months Ended									As of or for the Six Months Ended
	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands, except per share amounts)		2025			2025			2024			2025			2024
Earnings:
Net interest income	$	49,982		$	47,439		$	36,347		$	97,421		$	71,078
Noninterest income		10,249			10,136			21,554			20,385			31,304
Total revenue, net of interest expense		60,231			57,575			57,901			117,806			102,382
Credit loss expense		11,889			1,687			1,267			13,576			5,956
Noninterest expense		35,767			36,293			35,761			72,060			71,326
Income before income tax expense		12,575			19,595			20,873			32,170			25,100
Income tax expense		2,595			4,457			5,054			7,052			6,012
Net income	$	9,980		$	15,138		$	15,819		$	25,118		$	19,088
Pre-tax pre-provision net revenue⁽¹⁾	$	24,464		$	21,282		$	22,140		$	45,746		$	31,056
Adjusted earnings⁽¹⁾		10,176			15,301			8,132			25,479			12,621
Per Share Data:
Diluted earnings	$	0.48		$	0.73		$	1.00		$	1.20		$	1.21
Adjusted earnings⁽¹⁾		0.49			0.73			0.52			1.22			0.80
Book value		28.36			27.85			34.44			28.36			34.44
Tangible book value⁽¹⁾		23.92			23.36			28.27			23.92			28.27
Ending Balance Sheet:
Total assets	$	6,160,773		$	6,254,394		$	6,581,658		$	6,160,773		$	6,581,658
Loans held for investment, net of unearned income		4,381,188			4,304,184			4,287,232			4,381,188			4,287,232
Total securities		1,235,045			1,305,530			1,824,114			1,235,045			1,824,114
Total deposits		5,388,098			5,489,142			5,412,419			5,388,098			5,412,419
Short-term borrowings		—			1,482			414,684			—			414,684
Long-term debt		112,320			111,398			114,839			112,320			114,839
Total shareholders’ equity		589,040			579,625			543,286			589,040			543,286
Average Balance Sheet:
Average total assets	$	6,172,649		$	6,168,546		$	6,713,573		$	6,170,609		$	6,674,476
Average total loans		4,370,196			4,290,710			4,419,697			4,330,659			4,358,957
Average total deposits		5,398,916			5,398,819			5,514,924			5,398,868			5,498,020
Financial Ratios:
Return on average assets		0.65	%		1.00	%		0.95	%		0.82	%		0.58	%
Return on average equity		6.81	%		10.74	%		11.91	%		8.74	%		7.23	%
Return on average tangible equity⁽¹⁾		8.84	%		13.75	%		15.74	%		11.24	%		9.98	%
Efficiency ratio⁽¹⁾		56.20	%		59.38	%		56.29	%		57.75	%		62.83	%
Net interest margin, tax equivalent⁽¹⁾		3.57	%		3.44	%		2.41	%		3.51	%		2.37	%
Loans to deposits ratio		81.31	%		78.41	%		79.21	%		81.31	%		79.21	%
CET1 Ratio		11.02	%		10.97	%		9.56	%		11.02	%		9.56	%
Common equity ratio		9.56	%		9.27	%		8.25	%		9.56	%		8.25	%
Tangible common equity ratio⁽¹⁾		8.19	%		7.89	%		6.88	%		8.19	%		6.88	%
Credit Risk Profile:
Total nonperforming loans	$	37,192		$	17,470		$	25,128		$	37,192		$	25,128
Nonperforming loans ratio		0.85	%		0.41	%		0.59	%		0.85	%		0.59	%
Total nonperforming assets	$	40,606		$	20,889		$	31,181		$	40,606		$	31,181
Nonperforming assets ratio		0.66	%		0.33	%		0.47	%		0.66	%		0.47	%
Net charge-offs	$	189		$	3,087		$	524		$	3,276		$	713
Net charge-off ratio		0.02	%		0.29	%		0.05	%		0.15	%		0.03	%
Allowance for credit losses	$	65,800		$	53,900		$	53,900		$	65,800		$	53,900
Allowance for credit losses ratio		1.50	%		1.25	%		1.26	%		1.50	%		1.26	%
Allowance for credit losses to nonaccrual ratio		179.19	%		309.47	%		218.26	%		179.19	%		218.26	%

⁽¹⁾ Non-GAAP measure. See the Non-GAAP Measures section for a reconciliation to the most directly comparable GAAP measure.

MIDWESTONE FINANCIAL GROUP, INC.
AVERAGE BALANCE SHEET AND YIELD ANALYSIS

	Three Months Ended
	June 30, 2025						March 31, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest Income/ Expense		Average Yield/ Cost		Average Balance		Interest Income/ Expense		Average Yield/ Cost		Average Balance		Interest Income/ Expense		Average Yield/ Cost
ASSETS
Loans, including fees ^(1)(2)(3)	$	4,370,196	$	63,298	5.81	%	$	4,290,710	$	60,443	5.71	%	$	4,419,697	$	62,581	5.69	%
Taxable investment securities		1,168,048		12,928	4.44	%		1,207,844		13,327	4.47	%		1,520,253		9,228	2.44	%
Tax-exempt investment securities ⁽²⁾⁽⁴⁾		102,792		859	3.35	%		105,563		865	3.32	%		322,092		2,040	2.55	%
Total securities held for investment⁽²⁾		1,270,840		13,787	4.35	%		1,313,407		14,192	4.38	%		1,842,345		11,268	2.46	%
Other		104,628		1,517	5.82	%		124,133		1,247	4.07	%		20,452		242	4.76	%
Total interest earning assets⁽²⁾	$	5,745,664	$	78,602	5.49	%	$	5,728,250	$	75,882	5.37	%	$	6,282,494	$	74,091	4.74	%
Other assets		426,985						440,296						431,079
Total assets	$	6,172,649					$	6,168,546					$	6,713,573
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest checking deposits	$	1,221,266	$	2,101	0.69	%	$	1,240,586	$	2,127	0.70	%	$	1,297,356	$	3,145	0.97	%
Money market deposits		986,029		6,057	2.46	%		1,002,743		6,333	2.56	%		1,072,688		7,821	2.93	%
Savings deposits		843,223		3,161	1.50	%		835,731		3,057	1.48	%		738,773		2,673	1.46	%
Time deposits		1,436,301		14,346	4.01	%		1,397,595		13,967	4.05	%		1,470,956		15,303	4.18	%
Total interest bearing deposits		4,486,819		25,665	2.29	%		4,476,655		25,484	2.31	%		4,579,773		28,942	2.54	%
Securities sold under agreements to repurchase		896		1	0.45	%		2,705		5	0.75	%		5,300		10	0.76	%
Other short-term borrowings		—		18	—	%		—		20	—	%		442,546		5,399	4.91	%
Total short-term borrowings		896		19	8.51	%		2,705		25	3.75	%		447,846		5,409	4.86	%
Long-term debt		112,035		1,754	6.28	%		113,364		1,791	6.41	%		120,256		2,078	6.95	%
Total borrowed funds		112,931		1,773	6.30	%		116,069		1,816	6.35	%		568,102		7,487	5.30	%
Total interest bearing liabilities	$	4,599,750	$	27,438	2.39	%	$	4,592,724	$	27,300	2.41	%	$	5,147,875	$	36,429	2.85	%
Noninterest bearing deposits		912,097						922,164						935,151
Other liabilities		73,094						82,280						96,553
Shareholders’ equity		587,708						571,378						533,994
Total liabilities and shareholders’ equity	$	6,172,649					$	6,168,546					$	6,713,573
Net interest income⁽²⁾			$	51,164					$	48,582					$	37,662
Net interest spread⁽²⁾					3.10	%					2.96	%					1.89	%
Net interest margin⁽²⁾					3.57	%					3.44	%					2.41	%

Total deposits⁽⁵⁾	$	5,398,916	$	25,665	1.91	%	$	5,398,819	$	25,484	1.91	%	$	5,514,924	$	28,942	2.11	%
Cost of funds⁽⁶⁾					2.00	%					2.01	%					2.41	%

(1) Average balance includes nonaccrual loans. (2) Tax equivalent. The federal statutory tax rate utilized was 21%. (3) Interest income includes net loan fees, loan purchase discount accretion and tax equivalent adjustments. Net loan fees were $272 thousand, $256 thousand, and $337 thousand for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Loan purchase discount accretion was $1.1 million, $1.2 million, and $1.3 million for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Tax equivalent adjustments were $1.0 million, $981 thousand, and $938 thousand for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively. The federal statutory tax rate utilized was 21%. (4) Interest income includes tax equivalent adjustments of $160 thousand, $162 thousand, and $377 thousand for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively. The federal statutory tax rate utilized was 21%. (5) Total deposits is the sum of total interest-bearing deposits and noninterest bearing deposits. The cost of total deposits is calculated as annualized interest expense on deposits divided by average total deposits. (6) Cost of funds is calculated as annualized total interest expense divided by the sum of average total deposits and borrowed funds.

MIDWESTONE FINANCIAL GROUP, INC.
AVERAGE BALANCE SHEET AND YIELD ANALYSIS

	Six Months Ended
	June 30, 2025						June 30, 2024
(Dollars in thousands)	Average Balance		Interest Income/ Expense		Average Yield/ Cost		Average Balance		Interest Income/ Expense		Average Yield/ Cost
ASSETS
Loans, including fees ^(1)(2)(3)	$	4,330,659	$	123,741	5.76	%	$	4,358,957	$	121,448	5.60	%
Taxable investment securities		1,187,836		26,255	4.46	%		1,538,928		18,688	2.44	%
Tax-exempt investment securities ⁽²⁾⁽⁴⁾		104,170		1,724	3.34	%		325,414		4,137	2.56	%
Total securities held for investment⁽²⁾		1,292,006		27,979	4.37	%		1,864,342		22,825	2.46	%
Other		114,327		2,764	4.88	%		25,529		660	5.20	%
Total interest earning assets⁽²⁾	$	5,736,992	$	154,484	5.43	%	$	6,248,828	$	144,933	4.66	%
Other assets		433,617						425,648
Total assets	$	6,170,609					$	6,674,476
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest checking deposits	$	1,230,873	$	4,228	0.69	%	$	1,299,413	$	6,035	0.93	%
Money market deposits		994,340		12,390	2.51	%		1,087,616		15,886	2.94	%
Savings deposits		839,498		6,218	1.49	%		716,458		4,720	1.32	%
Time deposits		1,417,054		28,313	4.03	%		1,458,969		30,027	4.14	%
Total interest bearing deposits		4,481,765		51,149	2.30	%		4,562,456		56,668	2.50	%
Securities sold under agreements to repurchase		1,795		6	0.67	%		5,315		21	0.79	%
Other short-term borrowings		—		38	—	%		426,036		10,363	4.89	%
Total short-term borrowings		1,795		44	4.94	%		431,351		10,384	4.84	%
Long-term debt		112,696		3,545	6.34	%		121,761		4,181	6.91	%
Total borrowed funds		114,491		3,589	6.32	%		553,112		14,565	5.30	%
Total interest bearing liabilities	$	4,596,256	$	54,738	2.40	%	$	5,115,568	$	71,233	2.80	%
Noninterest bearing deposits		917,103						935,564
Other liabilities		77,662						92,581
Shareholders’ equity		579,588						530,763
Total liabilities and shareholders’ equity	$	6,170,609					$	6,674,476
Net interest income⁽²⁾			$	99,746					$	73,700
Net interest spread⁽²⁾					3.03	%					1.86	%
Net interest margin⁽²⁾					3.51	%					2.37	%

Total deposits⁽⁵⁾	$	5,398,868	$	51,149	1.91	%	$	5,498,020	$	56,668	2.07	%
Cost of funds⁽⁶⁾					2.00	%					2.37	%

(1) Average balance includes nonaccrual loans. (2) Tax equivalent. The federal statutory tax rate utilized was 21%. (3) Interest income includes net loan fees, loan purchase discount accretion and tax equivalent adjustments. Net loan fees were $528 thousand and $574 thousand for the six months ended June 30, 2025 and June 30, 2024, respectively. Loan purchase discount accretion was $2.3 million and $2.4 million for the six months ended June 30, 2025 and June 30, 2024, respectively. Tax equivalent adjustments were $2.0 million and $1.9 million for the six months ended June 30, 2025 and June 30, 2024, respectively. The federal statutory tax rate utilized was 21%. (4) Interest income includes tax equivalent adjustments of $0.3 million and $0.8 million for the six months ended June 30, 2025 and June 30, 2024, respectively. The federal statutory tax rate utilized was 21%. (5) Total deposits is the sum of total interest-bearing deposits and noninterest bearing deposits. The cost of total deposits is calculated as annualized interest expense on deposits divided by average total deposits. (6) Cost of funds is calculated as annualized total interest expense divided by the sum of average total deposits and borrowed funds.

Non-GAAP Measures

This earnings release contains non-GAAP measures for tangible common equity, tangible book value per share, tangible common equity ratio, return on average tangible equity, net interest margin (tax equivalent), core net interest margin, loan yield (tax equivalent), core yield on loans, efficiency ratio, adjusted earnings and adjusted earnings per share, and pre-tax pre-provision net revenue. Management believes these measures provide investors with useful information regarding the Company’s profitability, financial condition and capital adequacy, consistent with how management evaluates the Company’s financial performance. The following tables provide a reconciliation of each non-GAAP measure to the most comparable GAAP measure.

Tangible Common Equity/Tangible Book Value
per Share/Tangible Common Equity Ratio	June 30,			March 31,			December 31,			September 30,			June 30,
(Dollars in thousands, except per share data)		2025			2025			2024			2024			2024
Total shareholders’ equity	$	589,040		$	579,625		$	559,696		$	562,238		$	543,286
Intangible assets, net		(92,147	)		(93,399	)		(94,807	)		(96,257	)		(97,327	)
Tangible common equity	$	496,893		$	486,226		$	464,889		$	465,981		$	445,959

Total assets	$	6,160,773		$	6,254,394		$	6,236,329		$	6,552,482		$	6,581,658
Intangible assets, net		(92,147	)		(93,399	)		(94,807	)		(96,257	)		(97,327	)
Tangible assets	$	6,068,626		$	6,160,995		$	6,141,522		$	6,456,225		$	6,484,331

Book value per share	$	28.36		$	27.85		$	26.94		$	27.06		$	34.44
Tangible book value per share⁽¹⁾	$	23.92		$	23.36		$	22.37		$	22.43		$	28.27
Shares outstanding		20,769,577			20,815,715			20,777,485			20,774,919			15,773,468

Common equity ratio		9.56	%		9.27	%		8.97	%		8.58	%		8.25	%
Tangible common equity ratio⁽²⁾		8.19	%		7.89	%		7.57	%		7.22	%		6.88	%

(1) Tangible common equity divided by shares outstanding. (2) Tangible common equity divided by tangible assets.

	Three Months Ended									Six Months Ended
Return on Average Tangible Equity	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2025			2024
Net income	$	9,980		$	15,138		$	15,819		$	25,118		$	19,088
Intangible amortization, net of tax⁽¹⁾		931			1,047			1,195			1,978			2,423
Tangible net income	$	10,911		$	16,185		$	17,014		$	27,096		$	21,511

Average shareholders’ equity	$	587,708		$	571,378		$	533,994		$	579,588		$	530,763
Average intangible assets, net		(92,733	)		(94,169	)		(99,309	)		(93,447	)		(97,302	)
Average tangible equity	$	494,975		$	477,209		$	434,685		$	486,141		$	433,461

Return on average equity		6.81	%		10.74	%		11.91	%		8.74	%		7.23	%
Return on average tangible equity⁽²⁾		8.84	%		13.75	%		15.74	%		11.24	%		9.98	%

(1) The income tax rate utilized was the blended marginal tax rate. (2) Annualized tangible net income divided by average tangible equity.

Net Interest Margin, Tax Equivalent/ Core Net Interest Margin	Three Months Ended									Six Months Ended
	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2025			2024
Net interest income	$	49,982		$	47,439		$	36,347		$	97,421		$	71,078
Tax equivalent adjustments:
Loans⁽¹⁾		1,022			981			938			2,003			1,858
Securities⁽¹⁾		160			162			377			322			764
Net interest income, tax equivalent	$	51,164		$	48,582		$	37,662		$	99,746		$	73,700
Loan purchase discount accretion		(1,142	)		(1,166	)		(1,261	)		(2,308	)		(2,413	)
Core net interest income	$	50,022		$	47,416		$	36,401		$	97,438		$	71,287

Net interest margin		3.49	%		3.36	%		2.33	%		3.42	%		2.29	%
Net interest margin, tax equivalent⁽²⁾		3.57	%		3.44	%		2.41	%		3.51	%		2.37	%
Core net interest margin⁽³⁾		3.49	%		3.36	%		2.33	%		3.42	%		2.29	%
Average interest earning assets	$	5,745,664		$	5,728,250		$	6,282,494		$	5,736,992		$	6,248,828

(1) The federal statutory tax rate utilized was 21%. (2) Annualized tax equivalent net interest income divided by average interest earning assets. (3) Annualized core net interest income divided by average interest earning assets.

	Three Months Ended									Six Months Ended
Loan Yield, Tax Equivalent / Core Yield on Loans	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2025			2024
Loan interest income, including fees	$	62,276		$	59,462		$	61,643		$	121,738		$	119,590
Tax equivalent adjustment⁽¹⁾		1,022			981			938			2,003			1,858
Tax equivalent loan interest income	$	63,298		$	60,443		$	62,581		$	123,741		$	121,448
Loan purchase discount accretion		(1,142	)		(1,166	)		(1,261	)		(2,308	)		(2,413	)
Core loan interest income	$	62,156		$	59,277		$	61,320		$	121,433		$	119,035

Yield on loans		5.72	%		5.62	%		5.61	%		5.67	%		5.52	%
Yield on loans, tax equivalent⁽²⁾		5.81	%		5.71	%		5.69	%		5.76	%		5.60	%
Core yield on loans⁽³⁾		5.70	%		5.60	%		5.58	%		5.65	%		5.49	%
Average loans	$	4,370,196		$	4,290,710		$	4,419,697		$	4,330,659		$	4,358,957

(1) The federal statutory tax rate utilized was 21%. (2) Annualized tax equivalent loan interest income divided by average loans. (3) Annualized core loan interest income divided by average loans.

	Three Months Ended									Six Months Ended
Efficiency Ratio	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2025			2024
Total noninterest expense	$	35,767		$	36,293		$	35,761		$	72,060		$	71,326
Amortization of intangibles		(1,252	)		(1,408	)		(1,593	)		(2,660	)		(3,230	)
Merger-related expenses		—			(40	)		(854	)		(40	)		(2,168	)
Noninterest expense used for efficiency ratio	$	34,515		$	34,845		$	33,314		$	69,360		$	65,928

Net interest income, tax equivalent⁽¹⁾	$	51,164		$	48,582		$	37,662		$	99,746		$	73,700
Plus: Noninterest income		10,249			10,136			21,554			20,385			31,304
Less: Investment securities gains, net		—			33			33			33			69
Net revenues used for efficiency ratio	$	61,413		$	58,685		$	59,183		$	120,098		$	104,935

Efficiency ratio ⁽²⁾		56.20	%		59.38	%		56.29	%		57.75	%		62.83	%

(1) The federal statutory tax rate utilized was 21%. (2) Noninterest expense adjusted for amortization of intangibles and merger-related expenses divided by the sum of tax equivalent net interest income, noninterest income and net investment securities gains.

	Three Months Ended								Six Months Ended
Adjusted Earnings	June 30,			March 31,			June 30,		June 30,			June 30,
(Dollars in thousands, except per share data)		2025			2025			2024		2025			2024
Net income	$	9,980		$	15,138		$	15,819	$	25,118		$	19,088
Less: Investment securities gains, net of tax⁽¹⁾		—			25			24		24			51
Less: Mortgage servicing rights (loss) gain, net of tax⁽¹⁾		(196	)		(158	)		96		(355	)		(177	)
Plus: Merger-related expenses, net of tax⁽¹⁾		—			30			634		30			1,608
Less: Gain on branch sale, net of tax⁽¹⁾		—			—			8,201		—			8,201
Adjusted earnings	$	10,176		$	15,301		$	8,132	$	25,479		$	12,621

Weighted average diluted common shares outstanding		20,843			20,849			15,781		20,846			15,775

Earnings per common share – diluted	$	0.48		$	0.73		$	1.00	$	1.20		$	1.21
Adjusted earnings per common share⁽²⁾	$	0.49		$	0.73		$	0.52	$	1.22		$	0.80

(1) The income tax rate utilized was the blended marginal tax rate. (2) Adjusted earnings divided by weighted average diluted common shares outstanding.

	For the Three Months Ended									Year Ended
Pre-tax Pre-provision Net Revenue	June 30,			March 31,			June 30,			June 30,			June 30,
(Dollars in thousands)		2025			2025			2024			2025			2024
Net interest income	$	49,982		$	47,439		$	36,347		$	97,421		$	71,078
Noninterest income		10,249			10,136			21,554			20,385			31,304
Noninterest expense		(35,767	)		(36,293	)		(35,761	)		(72,060	)		(71,326	)
Pre-tax Pre-provision Net Revenue	$	24,464		$	21,282		$	22,140		$	45,746		$	31,056

Category: Earnings
This news release may be downloaded from Corporate Profile | MidWestOne Financial Group, Inc.

Source: MidWestOne Financial Group, Inc.

Industry: Banks

Contacts:
Charles N. Reeves	Barry S. Ray
Chief Executive Officer	Chief Financial Officer
319.356.5800	319.356.5800

The MIL Network –

July 25, 2025

MIL-OSI USA: Tuberville Chairs First HELP Subcommittee Hearing

US Senate News:

Source: United States Senator for Alabama Tommy Tuberville
WASHINGTON – Yesterday, U.S. Senator Tommy Tuberville (R-AL) led his first hearing as Chairman of the Health, Education, Labor, and Pensions (HELP) Subcommittee on Education and the American Family with lead advocates for reform in the nation’s educational system. During the hearing, entitled “Empowering Families for Better Educational Results,” witnesses underscored places where the current education system falls short, such as declining literacy rates and the lack of charter schools. Sen. Tuberville emphasized the importance of allowing parents to make choices when it comes to their children’s education and the legislation that will benefit teachers, parents, and children.
In effort to understand how to improve literacy across the nation, Sen. Tuberville and his Republican colleagues asked the witnesses what policies they believe should be implemented. The witnesses also discussed the preparation and professional development that would empower teachers in the classroom. Finally, Sen. Tuberville asked witnesses about the positive effects that charter schools can have on communities.
Witnesses included:
Mr. Tyler Barnett, CEO of New Schools for Alabama
Ms. Anne Wicks, Don Evans Family Managing Director Opportunity and Democracy George W. Bush Institute
Ms. Ginny Gentles, Director of Education Freedom and Parental Rights Defense of Freedom Institute
Mr. Richard Barrera, Board Vice President of San Diego Unified School District
Read excerpts of the transcript below or watch clips of the hearing on YouTube or Rumble.
OPENING STATEMENT:
TUBERVILLE: “Good afternoon. The Senate Committee on Health Education Labor and Pensions Subcommittee on Education and the American Family will come to order. Thanks for being here. As you can tell, we’re running a little late. It’s a little hectic on the hill today, but we will survive. This afternoon, we’re having a hearing on empowering families for better educational results. Ranking member Blunt Rochester and I will each have an opening statement. The witnesses will have five minutes for their opening statements, and senators will each have five minutes for questions.
We will obviously have senators coming in and out because [there are] many, many votes today. So, thank you to all the witnesses for being here today. It’s always nice to see a fellow Alabamian here today up here in the swamp. Thanks to Mr. Barnett for coming to visit today. We’ve called this hearing to discuss something very near and dear to my heart. One of the reasons I’m here. I was an educator for decades before I decided to come up here, and over those years, I saw the state of our education system decline. The federal government just kept spending more money and more money in K-12 education, and the more they spent, the worse outcomes became. It was just amazing me to watch it in real time, and it made no sense. It’s the main reason I chose to run for this office.
I didn’t want to see our kids fail year after year, then I got here and realized that we can fix it, but a lot of things are broken. Four years I’ve been serving here on the HELP Committee, and this year, I finally got this gavel to make sure we could have something like this to where we could bring these things to light. I wanted to focus on our kids’ educational outcomes and figure out where we were failing, and also, where we’re doing good things. That leads us to today.
That’s why we’re having this hearing.
We need to take a good, hard look at our K-12 education system and figure out [what we can do] to fix it, to make it better, because the status quo in a lot of areas is not cutting it. That means we need to think outside the box. Since COVID, parents have gotten a lot more engaged and that’s where all the necessary change can start, right at home, family. And, since parents have started paying more attention, they’ve started calling for more and more options.
Parents across our country are calling for their states to offer more options for their kids outside of failing school systems. States represented by folks on both sides of this dice are working on school choice options in their state legislature. We’ll hear about that issue from our witnesses today. Parents want these options, and we ought to listen to them. In my home state of Alabama last year, we passed the Choose Act, which created an income tax credit for families who choose to enroll their children in private schools or homeschooling.
Virginia, Florida, Alaska, Massachusetts, New Jersey, Indiana, and Washington are just a few states to name that have implemented or have pending state legislation to create these income tax credits promoting school choice. It’s simple. When we give our parents and students choice, we yield better educational results. We owe our kids this investment. But it doesn’t end there.
Right now, our kids in a lot of areas can’t read. We have kids entering middle school and high school who aren’t at a third grade reading level. I used to recruit kids. I’d bring them in with 3.5 GPAs. The next thing I know after testing them, they wouldn’t be [at a] sixth grade reading level. Something has got to change with that. States and governors across our country have taken up the literacy challenge and enacted legislation at the state level, where it should be. Ranking member Blunt Rochester’s home state of Delaware passed House Bill 304 that implemented reading assessments three times a school year for kids K-3, and my state passed the Alabama Literacy Act, which does the same thing. And we’re trying. No matter the state, this is a widespread effort, and we will discuss today the methods that are working.
We’ll talk about the science of reading and how best to implement. In our classrooms, we’ll hear about how we can invest in our teachers, invest to prepare them to tackle this crisis head-on. They need to be set up for success just as much as our students do. I want today to be an opportunity for this committee to have a conversation about what our states are doing, and what [we can] do to support them from here, from the federal level. Our children are the best resource this country has, the best thing we’ve got going.
And above all, we owe them one thing, an opportunity to succeed. And I look forward to working with all of you towards this common goal. Now, I yield to my ranking member, Senator Blunt Rochester, for her opening statement.”
[…]
ON HOW THE SUCCESS OF CHARTER SCHOOLS IMPACTS DISTRICT SCHOOLS:
TUBERVILLE: “Mr. Barnett, we’ve had tremendous growth in the number of students across American enrolling in charter schools. Over four million students to be exact. How does that success of charter schools impact our district public school system?”
BARNETT: “Thank you, Mr. Chairman. So, there are really two large national studies that speak to this. One comes out of the Progressive Policy Institute, and another comes out of the Forum Institute. Both actually show that the presence of charter schools has, in some way, improved outcomes within district schools. There’s a certain threshold that the Progressive Policy Institute’s study showed somewhere around 30%. So, the presence of charter schools that give up to 30% of students in a given market, the opportunity to enroll has [a] positive net impact on not only charter school performance, but also district performance.”
[…]
ON THE IMPORTANCE OF PREPARING OUR EDUCATORS TO TEACH THE SCIENCE OF READING METHOD:
TUBERVILLE: “Ms. Wicks, you talked about teacher preparedness and professional development in your testimony. How important is preparing our educators to teach the science of reading method?”
WICKS: “Senator, thank you for that important question. It’s critical that we give educators the right preparedness to understand this issue and be able to deploy it in their classrooms. I referenced in my opening remarks that only 25% of educator prep programs are currently teaching the science of reading to their aspiring teachers. And even worse, about 40% of them are teaching the wrong stuff. So, they’re teaching these brand-new teachers the wrong way to teach reading.
If they’re interested in more—the National Council on Teacher Quality put out that report. They’re the best at studying Teacher Prep programs. And I think this comes down to a matter of state leadership and accreditation.
They make some recommendations about the importance of setting state standards for what these programs need to be teaching. [We need to] have some way to measure that if it’s through accreditation or others.
And then to tie the state licensure exams to those standards, to ensure that those candidates have actually learned this and can do it in their classroom. And you see the same thing for sitting teachers who maybe never got this in their training and need that professional development.”
TUBERVILLE: “Thank you, Ms. Gentles, you know, on both sides of the argument whether President Trump and the Department of Education [is] undermining public school. And because of the work done to expand school choice, do you think there’s a truth to that argument?”
GENTLES: “Consistently studies show that when states have implemented school choice programs, the nearby public schools have benefited. So increasing competition inspires innovation, and a rising tide lifts all boats. So, we were pleased to see the Executive Order from the President supporting expanding school choice [and] educational freedom, and we’re also pleased to see the Executive Order ordering the Secretary of Education to look into dismantling the Department of Education within […] federal law and with the understanding that the Secretary will be working with Congress on that. Because we do think that […] freeing up states from federal regulations from monitoring, from compliance—all the time that all those bureaucrats at the state and district level are spending on federal paperwork is going to benefit public education. It’s going to benefit public school students. It’s going to benefit public school educators.”
TUBERVILLE: “Do you think we should give more power back to the states when it [comes to] education?”
GENTLES: “Absolutely. We need to give power to the states. I think we’ve heard such great news today on what strong state leaders—sensible state leaders—implementing common sense policies are doing. It’s very encouraging to see what’s happening.
We didn’t mention Louisiana, but Louisiana is a bright spot amidst the 2024 NAEP scores, the only state where fourth grade reading scores exceeded pre-COVID [grades].”
CASSIDY: “More so than Alabama?”
GENTLES: “Alabama’s pretty awesome too. It’s been referred to as the southern surge. There’s really good news coming out of the states and encouraging that, fostering that is absolutely the right direction. […] Education policies [are] set at the state level and let’s foster that and let’s get the federal government out of the way.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Tuberville Speaks to DOD Chief of Naval Operations Nominee

US Senate News:

Source: United States Senator for Alabama Tommy Tuberville
WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) participated in a Senate Armed Services Committee hearing today to consider the nomination of Admiral Daryl Caudle to be Chief of Naval Operations. During the hearing, Sen. Tuberville and Admiral Caudle discussed the need to work with our allies as we work to improve our U.S. Naval capabilities, as well as the advantages of using unmanned vessels at sea.
Excerpts from the interview can be found below and the full interview can be viewed on YouTube or Rumble.
ON SHIPBUILDING WITH OUR ALLIES:
TUBERVILLE: “Thank you, Mr. Chairman. Admiral, congratulations. You’ve earned this. Looking forward to working with you. You know, we talk about shipbuilding, and we do a lot of that in my state of Alabama.
Now, we’re in the submarine business. But I was also in the education business. We’re 500,000 electricians short in this country. In mine and your lifetime, we can’t catch up. We’re gonna have to use our allies to help build some things.
What’s your thoughts about that? And, for instance, [South] Korea, they build 5 to our 1 keels. [What] are your thoughts on helping and working with our allies to help build ships in the future?”
CAUDLE: “Well, Senator, thanks for meeting with me. I enjoyed our time in your office. I wanna work with the Secretary of the Navy and the Department of Defense on looking at this hard. Again, I’ve said this is an all hands on deck [effort]. I don’t know how we do what we need to do without bringing international partners into the capacity problem that we have, while we build up our capacity because we need ships today.
And, so, there are no magic beans to that. There’s nothing that’s just gonna make that happen. So, the solution space has got to open up. And I think part of that has to look at international partnerships to give us a little bit of a relief valve while we work on our own organic industrial capacity.”
TUBERVILLE: “As you said, we need them yesterday. And again, this education problem is not going away. Our workforce problem is not going away. We gotta use the best that we know how. And we gotta build ships and we gotta build them fast. But they gotta be good ships, and I think working with our allies is gonna be one way for us to address this problem.”
ON SAIL DRONES:
TUBERVILLE: “What’s your thoughts on unmanned vessels like sail drones that we make in our state of Alabama. Are you familiar with those?”
CAUDLE: “Senator, I am familiar with them. Those are type of technologies that are crucial. Sail drones are part of the fabric of how we improve our Maritime Domain Awareness. You’ve, I’m sure, heard of the instantiations we’ve had with our Task Force 59 in the Arabian Gulf using those type of technologies. We’ve had them in the Gulf of America with our southern border watch. We’re using them there with [U.S.] Fourth Fleet and other places. So, yes, that’s a part of exactly what we need to network persistent capabilities where I don’t want manned vessels spending time just collecting things that unmanned can do much more affordably and effectively.”
TUBERVILLE: “Yeah. Those have been used well down in the Caribbean on the war on drugs. And we’re proud of how they worked, and we need to continue to expand that there. I don’t think there’s any doubt about that. A lot of eyes out there that we don’t have to man [with] people and train people, but it’s good that you go along with it. Thank you, Mr. Chairman.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Tuberville Introduces Huntsville’s Bill Roark During HELP Hearing

US Senate News:

Source: United States Senator for Alabama Tommy Tuberville
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL)introduced Mr. Bill Roark of Huntsville, Alabama, as a witness appearing before the Senate Health, Education, Labor, and Pensions (HELP) Committee. The hearing was about empowering workers by expanding employee ownership.
Read excerpts from the hearing below or watch on YouTube or Rumble.
INTRODUCTION:
TUBERVILLE: “I’m proud to introduce an Auburn man and a constituent, Mr. Bill Roark. Mr. Roark is the Co-founder of Torch Technologies Inc., Founder and Executive Chairman of the Board of Starfish Holdings, Inc., and Founder and Chair of the Board of Freedom Real Estate and Capital LLC, so he stays pretty busy. He’s a champion for employee ownership, and he has led multiple companies to national recognition [thanks] to his core values.
As CEO of Torch Technologies, Mr. Rourke implemented an employee-owned ownership program from the company’s inception with the goal of becoming a 100% S corp employee stock ownership plan. His company achieved that goal in just under 10 years. Torch and Mr. Roark gained national attention for being named on the inaugural list of best of America’s best small companies by Forbes. During his tenure, Torch received multiple business awards and was named the number one fastest-growing, privately-held defense contractor in the southeast region. Torch Technologies provides superior research development and engineering services to the Department of Defense. Mr. Roark recently led Torch to become a certified evergreen company, achieving its long-term commitment to 100% employee ownership and its pledge to remain privately held to ensure enduring stability and opportunity for its workforce. This milestone came as Torch celebrated its 20th anniversary.
A true believer in company culture and employee well-being, Mr. Rourke has prioritized top-tier benefits and working conditions throughout his career. Mr. Rourke also founded Starfish Holdings Incorporated, a holding company that provides beneficial ownerships to employees across all its portfolios through an ESOP structure. Starfish Holdings companies now include Torch Technologies Inc., Freedom Real Estate and Capital LLC, and SIMVANA [LLC]. Mr. Roark has a proven track record with a common denominator of building companies where employees can thrive, retire with dignity, and find lasting purpose in their work.
Thank you for being here today, Mr. Roark.”
ON THE IMPORTANCE OF WORKPLACE DIGNITY:
TUBERVILLE: “Important topic. Mister Roark, it’s got to be pretty mind calming to know if you work in an ESOP and you have some of the owners exit the company that everybody’s not gonna lose their job. So, what kind of security does an ESOP structure have for all employees? What that you’ve seen? Some examples.”
ROARK: “Well, you know, we work real hard to build a succession plan in that it prepares our employees as people retire to step forward. You know, that is a challenge. One of the biggest challenges we’ve had is the success of the ESOP has led to people retiring early, so we have to work that problem a little harder and be training people ready to step into the role. The departure of employees that are retiring actually creates lots of opportunities for the other employees to accelerate in their careers quicker. So, a successful ESOP actually creates a lot of successful careers.
It also creates the ability for employees to retire with dignity. In fact, the announcement of this hearing went out on our social media last night and one of the posts this morning, I’ll quote for you. […] Jim Deal, one of our retiring employees seven or eight years ago, he says, ‘Tell them how much you helped us retire with dignity.’ That is to me the essence of why I wanted to do this. You know, some 25 years ago, a company bought the company I worked for. And a few months after it was bought, I’d had a successful career. I went from being an entry level person to an executive. I was president of an operating segment. In that time, I’d had one of the most successful careers of anyone at that company. As that acquisition evolved and I was there, I was shortly thereafter, walked to the door and asked, told as I was handed my severance check that ‘We’ll pack your office and send your stuff home.’
When I started this company, at the core of what I wanted is I wanted people to retire with dignity. When I walked out and stood on that corner, I didn’t feel very dignified. When I meet an employee in the grocery store, I want them to come hug me, not run from me. With the ESOP, I get lots of hugs. Every year when the ESOP statements come out, I get lots of hugs.This is a different way of doing business. I never wanna see an employee walk through the door in such an undignified manner. I put my whole life into that company. Several times, I worked 24 hours straight to get a delivery out on time.Was that respected? No. My stuff showed up in boxes with a bunch of crap that I didn’t really want, was not dignified at all. I hope that answers your question, Coach.”
TUBERVILLE: “So, how can we help on the federal level to make ESOP structure more viable for that?”
ROARK: “No. I think there’s lots of ideas being proposed here in in several of these bills, you know, making this easier, making it clearer in what we’re supposed to do. There’s a lot of murkiness in the bills, you know, one of the things for us in the last few years, we’ve been in a position where we could contribute more than the maximum allowable to our employees, and that creates an issue with the ESOP itself. Rf the limit is at 25%, I can only give 25%. If it were higher, we in some cases would have given higher, including this year. So, there are some pieces there where we could just fine tune some things. The ESOP is a wonderful tool and it provides stability for the employees and provides a retirement path for them as well. So, I think the more that we can refine the regulations around it to encourage people to be able to do this, clear up the rules on how the evaluations are done so that it’s clear what needs to be done. I think those would be great helps.”
TUBERVILLE: “Thank you. Thank you, Mr. Chairman.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

MIL OSI USA News –

July 25, 2025

MIL-OSI Africa: Liberia salutes African Development Bank President Adesina in landmark Government session

Source: APO – Report:

I want you to know that your legacy in Liberia is strong and enduring, President Boakai tells Adesina
“With your vast natural resources, Liberia has no business being poor.” — Adesina

Liberian President Joseph Nyuma Boakai convened the full spectrum of his government leadership to hear from African Development Bank President Dr. Akinwumi Adesina (www.AfDB.org), whom he lauded for a transformative decade at the helm of Africa’s premier development finance institution.

The expanded cabinet meeting, held Tuesday 22 July at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia, brought together all three branches of the Liberian government: executive ministers, legislative leaders, the Chief Justice, and heads of state-owned enterprises. The event served as both a celebration of partnership and a platform for Adesina to share leadership insights as he nears the end of his term in August 2025.

“You have shown the world that bold ideas, when combined with clear vision and determination, can produce extraordinary results,” President Boakai declared. “Through your leadership, the African Development Bank has invested in real solutions that touch lives every day.”

Underscoring the gravity of the occasion, the Liberian president added: “The fact that all three branches of our government are represented speaks volumes about the value we place on your visit and the respect we have for your leadership and contributions.”

In his rousing keynote address titled “Liberia: Arise, and Shine!”, Dr. Adesina reflected on the Bank’s enduring partnership with Liberia, which has resulted in $1.02 billion in investments across 72 projects since 1967.

Key achievements include nearly 2,500 km of electricity transmission lines connecting Liberia with Côte d’Ivoire, Sierra Leone, and Guinea; the Liberia Energy Efficiency and Access Project, which delivered nearly 40,000 new grid connections; and 177 km of new roads including the transformational Fish Town-Harper and Karloken to Fish Town corridors.

A central highlight of the event was the launch of the Liberia Youth Entrepreneurship Investment Bank (YEIB), a flagship $17 million initiative under the African Development Bank’s Youth in Africa strategy. Liberia becomes the first African country to establish the dedicated youth-focused financial institution, aimed at equipping young Liberians aged 18-35 with the tools and capital to drive national development through entrepreneurship.

President Boakai described the Bank’s portfolio as “more than numbers on paper.”

“They are roads that connect our communities, energy that lights homes and businesses, and agriculture projects that strengthen food security and create income for our farmers,” he said.

Drawing from his experience as Nigeria’s former Minister of Agriculture, and his decade-long leadership of the Bank, Adesina offered the Liberian cabinet a 7-point framework for transformational governance: setting clear and ambitious goals, ensuring measurable results, promoting teamwork and accountability and reforming institutions, especially the civil service and judiciary.

“Don’t just blow the whistle, use your yellow card or red card. There is no need for rules in a soccer game if the referee never uses the yellow card or the red card,” Adesina said. “You cannot spend time baby-sitting poor performers. The public is eager for results and time is not on your side. So, be firm. Reward performers. Dispense with non-performers.”

He recommended the adoption of a “One Government approach”, as well as the establishment of a presidential awards program to “recognize and incentivize inter-agency collaboration”; drawing from similar models at the African Development Bank.

The Bank Group President urged the country to unlock greater value from its abundant resources. “With your vast natural resources, Liberia has no business being poor,” he stated. “The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth.”

During a Q&A session, Adesina emphasized the importance of technical and vocational training, citing that 60 percent of Liberia’s population is under the age of 35. He was responding to Education Minister Jarso Maley Jallah who inquired about strengthening entrepreneurship through the education system.

Responding to a question from the Minister of Information, Cultural Affairs and Tourism, Jerolinmek Piah on achieving fiscal targets, Adesina urged the government to plug revenue leakages, noting that Africa loses $88 billion annually to illicit financial flows. “Make your country investable: invest in transparency, rule of law, create the right environment, provide incentives,” he added.

Sannah Ziama, a local investor, praised Adesina’s visionary leadership and called for sustained investments in solar power to unlock Liberia’s industrial potential.

As a low-income country and transition State, Liberia continues to benefit from the African Development Fund, the Bank’s concessional lending arm, as well as the Transition Support Facility, and the Nigeria Trust Fund.

Liberia is also part of the inaugural group of countries that have developed energy compacts under the Mission 300 program, a joint initiative of the African Development Bank and the World Bank to deliver electricity to 300 million Africans by 2030.

In recognition of his exceptional contributions, President Boakai presented Adesina with a Presidential Pin of Honour. Adesina had previously received Liberia’s highest national honour – the Order of the Star of Africa, Grade of Grand Band – in 2018.

“Dr. Adesina, as you prepare to move on from this chapter, I want you to know that your legacy in Liberia is strong and enduring, President Boakai said. “The programs you have championed will continue to make an impact for years to come. Thank you for your faith in Liberia’s potential, and thank you for investing in our people, especially our youth.”

Adesina was accompanied by the Bank’s Director General for West Africa, Lamin Barrow; Bank Executive Director for Liberia, Sierra Leone, The Gambia, Ghana and Sudan, Rufus Darkortey; and Acting Country Manager, Foday Yusuf Bob.

Liberia’s historical connection with the African Development Bank dates back to the institution’s founding, when Liberian official Romeo Alexander Horton served as the pioneer Chairman of the Committee of Nine that established the Bank in 1964.

Read Dr. Adesina’s address here (https://apo-opa.co/4maNUla).

– on behalf of African Development Bank Group (AfDB).

Media Contacts:
Natalie Nkembuh and Tolu Ogunlesi
Communication and External Relations
media@afdb.org

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

Media files

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MIL OSI Africa –

July 25, 2025

MIL-OSI USA: BREAKING: Rep. Miller Joins Senator Hawley in Effort to Ban Chinese Ownership of American Land

Source: United States House of Representatives – Congresswoman Mary Miller (IL-15)

FOR IMMEDIATE RELEASE

WASHINGTON, D.C. — Congresswoman Mary Miller (IL-15) introduced the House companion to Senator Josh Hawley’s (R-MO) Protecting Our Farms and Homes from China Act. This legislation would ban Chinese corporations and individuals affiliated with the Chinese Communist Party (CCP) from purchasing American agricultural land and residential property.

This effort comes in direct response to growing concerns over the CCP’s aggressive campaign to acquire U.S. farmland and real estate. According to the United States Department of Agriculture, Chinese entities own around 265,000 acres of agricultural land across the country.

“Prized American land is not for sale to our enemies,” said Congresswoman Mary Miller. “The Chinese Communist Party is the greatest threat to our national security, and their aggressive push to buy up our farmland and homes is a direct attack on our sovereignty. It’s long past time we take back control and put America’s food supply and communities back in American hands — where they belong.”

The legislation aligns with President Trump’s recently announced National Farm Security Action Plan, a bold initiative led by the U.S. Secretary of Agriculture Brooke L. Rollins alongside U.S. Secretary of Defense Pete Hegseth, U.S. Attorney General Pam Bondi, and U.S. Secretary of Homeland Security Kristi Noem to safeguard American agriculture and prevent foreign adversaries from exploiting American land and resources.

The Protecting Our Farms and Homes from China Act would:

Prohibit Chinese corporations and individuals affiliated with the CCP from acquiring or leasing United States’ agricultural land;
Prohibit Chinese corporations and individuals associated with the CCP from purchasing residential real estate in the United States for a period of at least two years, with an option for the President to renew the prohibition biennially;
Require Chinese corporations and individuals affiliated with the CCP to divest ownership of United States’ agricultural land and residential real estate within one year.
Establish civil fines and criminal penalties for noncompliance, including forfeiture.

Read more about the bill on Fox News.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Senator Marshall Applauds USDA Workforce Reorganization from DC to Kansas City

US Senate News:

Source: United States Senator for Kansas Roger Marshall

Washington – On Thursday, U.S. Senator Roger Marshall, M.D. (R-Kansas) applauded the United States Department of Agriculture (USDA) announcement from Secretary of Agriculture Brooke Rollins that, as part of its planned reorganization, Kansas City will become the second largest beneficiary of the restructuring.
This reorganization is part of a larger, government-wide process being undertaken by the Trump administration to return federal agencies to their primary functions, eliminate redundancy and waste, and preserve the critical services these agencies provide to taxpayers.
“There are no stronger champions for American farmers and ranchers than Secretary Rollins and President Trump,” said Senator Marshall. “Today’s announcements build on President Trump’s efforts in his first Administration to move those who work closest with our farmers and ranchers to our nation’s heartland. This is putting Farmer’s First.”
“American agriculture feeds, clothes, and fuels this nation and the world, and it is long past time the Department better serve the great and patriotic farmers, ranchers, and producers we are mandated to support. President Trump was elected to make real change in Washington, and we are doing just that by moving our key services outside the beltway and into great American cities across the country,” said Secretary Rollins. “We will do so through a transparent and common-sense process that preserves USDA’s critical health and public safety services the American public relies on. We will do right by the great American people who we serve and with respect to the thousands of hardworking USDA employees who so nobly serve their country.”
In the case of the USDA, today’s announcement will:

Ensure the size of the USDA’s workforce aligns with available financial resources and agricultural priorities
Bring USDA closer to its customers
Eliminate management layers and bureaucracy
Consolidate redundant support functions

Click here to read the full Secretary Memorandum.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Kelly, Morelle, Langworthy, Houlahan lead bipartisan effort to squash the invasive Spotted Lanternfly

Source: United States House of Representatives – Representative Mike Kelly (R-PA)

WASHINGTON, D.C. — This week, U.S. Representatives Mike Kelly (R, PA-16), Joe Morelle (D, NY-25), Chrissy Houlahan (D, PA-06), and Nick Langworthy (R, NY-23) introduced bipartisan legislation to stop the spread of the Spotted Lanternfly, an invasive species that poses a significant threat to the American agricultural economy.

“Agriculture plays a vital role in Pennsylvania’s economy, especially in my district which is home to many family farms and agricultural businesses,” said Rep. Kelly. “In Pennsylvania alone, the Spotted Lanternfly could cost hundreds of millions of dollars in economic damage and eliminate thousands of agricultural jobs. We must protect our farmers and harvesters from this invasive and dangerous threat.”

“It’s hard to visit the Finger Lakes without enjoying our amazing vineyards and orchards, but sadly, they’re under serious threat from the Spotted Lanternfly,” said Congressman Morelle. “My legislation would provide additional support for both local and national organizations committed to fighting back against this invasive, destructive pest. I’m grateful to Representatives Kelly, Houlahan, and Langworthy for joining me in supporting this critical bill, and I hope to see it passed and signed into law soon.”

“Across our community, I hear time and again about how devastating these pests can be. Whether you’re a farmer, a homeowner, or just someone who enjoys the delicious produce grown by our community’s farmers, the invasive Spotted Lanternfly poses a serious problem,” said Rep. Houlahan. “I’m glad to join this bipartisan group of leaders who are once again stepping up to unlock new research funding on eradicating these insects. I was thrilled to see this legislation included last year in both the House and Senate drafts of the Farm Bill and remain optimistic that this year, we will be able to push this legislation forward to deliver these badly needed funds.”

“The Spotted Lanternfly infestation continues to wreak havoc across Western New York and the Southern Tier, especially devastating our grape crops,” said Congressman Langworthy. “Year after year, this invasive pest inflicts severe damage, threatening not only our crops but the livelihoods of hardworking farmers and the very future of our agricultural communities. This crisis can no longer be ignored. I’m proud to lead this bipartisan effort to safeguard our crops, protect our local farmers’ livelihoods, and preserve the future of our agricultural communities.”

BACKGROUND

The Spotted Lanternfly Research and Development Act designates the Spotted Lanternfly as a high-priority research and extension initiative under the National Institute of Food and Agriculture. This designation authorizes the Secretary of Agriculture to make competitive grants available for research projects related to the mitigation of this invasive species so we can find creative solutions to stop the spread before Pennsylvania’s cash crops are further decimated.

How you can help stop the spread:

Learn how to identify the Spotted Lanternfly.
Inspect outdoor items such as firewood, vehicles, and furniture for egg masses.
If you visit other states with Spotted Lanternfly, be sure to check all equipment and gear before leaving and scrape off any egg masses.
Report sightings by completing this form.
If you see a Spotted Lanternfly, kill it immediately by stepping on it or crushing it.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Lee Applauds USDA Shift from Washington to Utah

US Senate News:

Source: United States Senator for Utah Mike Lee

WASHINGTON – U.S. Senator Mike Lee (R-UT) issued the following statement in response to this morning’s announcement by the U.S. Department of Agriculture (USDA) that the agency will be shifting its focus and staffing away from Washington D.C. and toward agricultural hub locations across the country, including one in Salt Lake City, Utah:

“The people making decisions about how our forests are managed and our food is grown shouldn’t be distant bureaucrats,” said Senator Mike Lee. “I congratulate the Department of Agriculture for decentralizing from Washington and relocating staff to Salt Lake City and other regional hubs. Not only is this a big win for Utah’s farmers and ranchers, but also for our land managers as the department moves closer to the people who live, work, and rely upon these lands. I will continue to fight for the Utahns who raise livestock, grow the best food on Earth, and sustain our National Forests.”

USDA Secretary Brooke Rollins made the following statement:

“American agriculture feeds, clothes, and fuels this nation and the world, and it is long past time the Department better serve the great and patriotic farmers, ranchers, and producers we are mandated to support. President Trump was elected to make real change in Washington, and we are doing just that by moving our key services outside the beltway and into great American cities across the country,” said Secretary Rollins. “We will do so through a transparent and common-sense process that preserves USDA’s critical health and public safety services the American public relies on. We will do right by the great American people who we serve and with respect to the thousands of hardworking USDA employees who so nobly serve their country.”

About the USDA Reorganization plan

The reorganization consists of four pillars:

Ensure the size of USDA’s workforce aligns with available financial resources and agricultural priorities
Bring USDA closer to its customers
Eliminate management layers and bureaucracy
Consolidate redundant support functions

To bring USDA closer to the people it serves while also providing a more affordable cost of living for USDA employees, USDA has developed a phased plan to relocate much of its Agency headquarters and NCR staff out of the Washington, D.C. area to five hub locations. The Department currently has approximately 4,600 employees within the National Capital Region (NCR). This Region has one of the highest costs of living in the country, with a federal salary locality rate of 33.94%. In selecting its hub locations, USDA considered where existing concentrations of USDA employees are located and factored in the cost of living. Washington, D.C. will still hold functions for every mission area of USDA at the conclusion of this reorganization, but USDA expects no more than 2,000 employees will remain in the NCR.

USDA will vacate and return to the General Services Administration the South Building, Braddock Place, and the Beltsville Agricultural Research Center, and revisit utilization and functions in the USDA Whitten Building, Yates Building, and the National Agricultural Library. The George Washington Carver Center will also be utilized until space optimization activities are completed. These buildings have a backlog of costly deferred maintenance and currently are occupied below the minimum set by law. For example, the South Building has approximately $1.3 billion in deferred maintenance and has an average daily occupancy of less than 1,900 individuals for a building that can house over 6,000 employees.

USDA’s five hub locations and current Federal locality rates are:

Raleigh, North Carolina (22.24%)
Kansas City, Missouri (18.97%)
Indianapolis, Indiana (18.15%)
Fort Collins, Colorado (30.52%)
Salt Lake City, Utah (17.06%)

Read the full reorganization memo from Secretary Rollins here.

MIL OSI USA News –

July 25, 2025

MIL-OSI Canada: Canada and Manitoba announce support for livestock producers affected by drought conditions

Source: Government of Canada News (2)

July 24, 2025 – Winnipeg, Manitoba – Agriculture and Agri-Food Canada

The governments of Canada and Manitoba are announcing support measures to aid Manitoba’s livestock producers affected by drought conditions, federal Minister of Agriculture and Agri-Food Heath MacDonald and Manitoba Agriculture Minister Ron Kostyshyn announced today.

Manitoba Agricultural Services Corporation (MASC) will provide support measures through its AgriInsurance program, improving cashflow for livestock producers needing to secure additional feed.

For claim calculation purposes, MASC will be applying a quality adjustment factor to reduce yield appraisals by 40% for drought-stricken cereal crops (all varieties of wheat, oats, barley, fall rye, triticale, and grain corn) that are converted to livestock feed. This quality adjustment was last implemented in 2021 and contributed to over 100,000 acres of grain crops being converted to livestock feed.

Changes for producers with AgriInsurance coverage on forage and pastures include:

Deferred premium deductions on payments for Forage Insurance claims made prior to October 1, 2025
Partial claim payments on Forage Insurance and Pasture Days Insurance claims, when feasible
Ability for livestock to graze on insured forages after the first cut without impact on claim calculation

MASC will also offer lending clients an opportunity to defer loan payments and will provide guidance on appropriate options to finance feed purchases, if needed.

AgriInsurance is a federal-provincial-producer cost-shared program. Support for the program is provided by the governments of Canada and Manitoba under the Sustainable Canadian Agricultural Partnership.

MIL OSI Canada News –

July 25, 2025

MIL-OSI Security: Shiprock Man Sentenced to 10 Years for Deadly Drunk Driving Crash

Source: US FBI

ALBUQUERQUE – A Shiprock man has been sentenced to 10 years in federal prison for causing a deadly drunk driving crash on the Navajo Nation reservation that resulted in two deaths and serious injuries.

According to court documents, on December 1, 2023, Brian Gonnie, 45, an enrolled member of the Navajo Nation, was operating a vehicle under the influence of alcohol on Highway 64 in Shiprock, New Mexico. He was traveling at approximately 86 mph in a 35-mph zone when he crossed into the oncoming lane and struck another vehicle head-on. The crash claimed the lives of Gonnie’s passenger and the driver of the other vehicle. A passenger in the struck vehicle sustained life-altering injuries, including multiple fractures and required extensive surgery.

Gonnie’s blood alcohol concentration was measured at .267%, with numerous empty alcohol containers found in his vehicle. During an interview with FBI agents, Gonnie admitted to drinking and driving the night of the crash.

Gonnie subsequently pled to two counts of involuntary manslaughter and one count of assault. Upon his release, Gonnie will be subject to up to three years of supervised release.

U.S. Attorney Ryan Ellison Philip Russell, Acting Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

This case was investigated by the Farmington Resident Agency of the FBI Albuquerque Field Office with assistance from the Navajo Police Department and Navajo Department of Criminal Investigations and the New Mexico State Police. Assistant United States Attorney Jesse Pecoraro is prosecuting the case.

MIL Security OSI –

July 25, 2025

UK FTA finalised after two decades, credit goes to PM Modi: Piyush Goyal

Source: Government of India

Source: Government of India (4)

Union Commerce Minister Piyush Goyal on Thursday said it took over two decades to finalise the historic Free Trade Agreement (FTA) with the United Kingdom, crediting Prime Minister Narendra Modi for bringing the deal back into focus and driving it to conclusion.

Speaking to IANS on the sidelines of the India-UK talks, Goyal said, “This is historic in itself. It took over two decades to finalise this FTA. But when Prime Minister Narendra Modi gave it momentum in 2021, brought it back into focus, and committed to getting it done, India started working on it consistently—and today, we are seeing the positive results.”

He pointed out that while several governments came and went in the UK, the discussions continued without interruption. “I believe this agreement will open immense opportunities in India, especially for our farmers, MSMEs, and small entrepreneurs,” he said.

Goyal congratulated Prime Minister Modi, UK Prime Minister Keir Starmer, and the people of both countries on the signing of the landmark India-UK Comprehensive Economic and Trade Agreement (CETA).

“Duty-free access for about 99 per cent of Indian exports unlocks nearly $23 billion in opportunities for labour-intensive sectors, marking a new era of inclusive and gender-equitable growth,” the minister said.

Calling the agreement a “win-win” for flagship initiatives like ‘Make in India’ and ‘Vocal for Local,’ Goyal noted that the deal would drive job creation and enhance India’s strategic position in global trade.

The FTA was signed by Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds, following the conclusion of negotiations earlier this year.

“This deal will transform the lives of artisans, weavers, and daily-wage earners employed in sectors such as textiles, leather, footwear, gems and jewellery, toys, and marine products,” he added.

-IANS

July 25, 2025

MIL-OSI USA: News 07/24/2025 VIDEO: Blackburn Slams Democrats for Obstructing President Trump’s Agenda and Will of the American People

US Senate News:

Source: United States Senator Marsha Blackburn (R-Tenn)

WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn.) delivered remarks on the Senate floor slamming Democrats for obstructing the voting process on President Trump’s nominees, his efforts to enforce our immigration laws and secure the border, and his America First policies in the courts:

Click here to download Senator Blackburn’s remarks on the Senate floor.

REMARKS AS PREPARED

While Republicans Work to Deliver Wins for the American People, Democrats Are Obstructing President Trump’s Agenda

In November, President Trump and Republicans received a powerful mandate from the American people to secure our border, strengthen our economy, rein in wasteful spending, and Make America Great Again.

By passing the One Big Beautiful Bill, we delivered on this mandate by securing…

The largest tax cut in U.S. history—including reduced taxes on tips and overtime, a $6,000 bonus deduction for seniors, and the permanent extension of President Trump’s 2017 tax cuts;

It also reduces the burden of the death tax for millions, providing critical relief for family-owned businesses and farmers;

It bolsters our Armed Forces with a $150 billion increase in military spending;

It provides the largest-ever investment in border security so that we can complete the border wall and hire thousands of new Border Patrol Agents;

It strengthens Medicaid by rooting out waste, fraud, and abuse in the program;

It restores fiscal sanity by eliminating hundreds of billions of dollars in far-left spending;

And it accomplishes so much more.

These are huge wins for the American people. But our work is far from finished.

Democrats Are Hurting Americans by Obstructing President Trump’s Nominees

At the top of the list: confirming President Trump’s nominees.

The President deserves to have his team in place to enact his America First agenda.

But instead of working with us to carry out the will of the American people, our colleagues across the aisle have chosen to obstruct at any cost.

Right now, we have 135 pending nominations in the Senate.

There is absolutely zero reason we should have this backlog—especially with such important nominations:

U.S. ambassadorships to the Vatican, the Netherlands, Chile, Greece, and the European Union;

Seven federal judgeships;

U.S. Attorneys;

Under Secretaries for the Departments of Veterans Affairs and the Navy;

The Commissioner of the Securities and Exchange Commission;

And much more.

Democrats, however, are trying to slow down the voting process on these qualified nominees as much as possible.

They’re losing at the ballot box, in the halls of Congress, and in the courts—so stalling is all they have left to spite the President.

They might think that they are hurting Republicans. In reality, they are hurting the American people.

Every single day that goes by with stalled nomination votes is another day that these qualified nominees are unable to get to work on behalf of our country.

Democrats’ Obstruction Is Nothing New – Recent Disclosures Show Obama Manufactured Russia Collusion Hoax to Derail President Trump

Unfortunately, this obstruction is nothing new.

With the recent disclosures from Director of National Intelligence Gabbard, we are learning even more about how President Obama and Democrats manufactured the Russia Hoax to try to derail President Trump’s first term.

Activist Judges Have Blocked Lawful Orders from President Trump in Attempts to Obstruct His Agenda

For months, far-left activist judges undermined our Constitution by blocking lawful orders from the Trump administration in a brazen effort to decide nationwide policy.

Their abuse of power only came to an end when the Supreme Court reined in the use of nationwide injunctions.

Democrats Have Obstructed ICE Agents from Enforcing Immigration Law

And more recently, we’ve seen Democrats try their best to obstruct a core part of the America First agenda: Securing our border.

Americans want our border to be secure. And they want criminal illegal aliens removed from their communities.

Across the country, ICE and Border Patrol agents have been hard at work carrying out this mandate and arresting criminals who have no right to be in our country.

Yet Democrats are working to vilify and undermine our brave federal law enforcement.

We’ve seen congressional Democrats try to storm ICE facilities—including a House member who faces federal charges for assaulting an ICE officer.

They’ve smeared ICE agents who are risking their lives to protect our country, comparing them to “secret police” and the Nazis.

They’ve pushed legislation that would prohibit officers from wearing masks, exposing them and their families to targeted harassment.

This is all happening as ICE officers face an 830 percent surge in assaults.

MIL OSI USA News –

July 25, 2025

MIL-OSI Analysis: Caught on the jumbotron: How literature helps us understand modern-day public shaming

Source: The Conversation – Canada – By Jason Wang, Postdoctoral Fellow, Modern Literature and Culture Research Centre, Toronto Metropolitan University

The scene at Gillette Stadium in Massachusetts on July 16 was steeped in irony.

During Coldplay’s “jumbotron song” — the concert segment where cameras pan over the crowd — the big screen landed on Andy Byron, then-CEO of data firm Astronomer, intimately embracing Kristin Cabot, the company’s chief people officer. Both are married to other people.

The moment, captured on video and widely circulated on social media, shows the pair abruptly recoiling as Coldplay’s lead singer Chris Martin says: “Either they’re having an affair or they’re just very shy.”

Martin’s comment — seemingly light-hearted at the time — quickly took on a different tone as online sleuths identified the pair and uncovered their corporate roles and marital statuses. Within days, Byron resigned from his position as CEO while Cabot is on leave.

This spectacle raises a deeper question: why does infidelity, especially among the powerful, provoke such public outcry. Literary tradition offers some insight: intimate betrayal is never truly private. It shatters an implicit social contract, demanding communal scrutiny to restore trust.

When trust crumbles publicly

French philosopher Paul Ricoeur’s notion of “narrative identity” suggests we make sense of our lives as unfolding stories. The promises we make (and break) become chapters of identity and the basis of others’ trust. Betrayal ruptures the framework that stitches private vows to public roles; without that stitch, trust frays.

Byron’s stadium exposure turned a marital vow into a proxy for professional integrity. Public betrayal magnifies public outcry because leaders symbolize stability; their personal failings inevitably reflect on their institutions.

When Astronomer’s board stated the expected standard “was not met,” they were lamenting the collapse of Byron’s narrative integrity — and, by extension, their company’s.

This idea — that private morality underpins public order — is hardly new. In Laws, ancient Greek philosopher Plato described adultery as a disorder undermining family and state. Roman philosopher Seneca called it a betrayal of nature, while statesman Cicero warned that breaking fides (trust) corrodes civic bonds.

The social cost of infidelity in literature

Literature rarely confines infidelity to the bedroom; its shockwaves fracture communities.

French sociologist Émile Durkheim’s idea of the “conscience collective” holds that shared moral norms create “social solidarity.” As literature demonstrates, violations of these norms inevitably undermines communal trust.

‘Anna Karenina’ by Leo Tolstoy.
(Penguin Random House)

Leo Tolstoy’s Anna Karenina (1875-77) dramatizes the social fracture of betrayal. Anna’s affair with Count Vronsky not only defies moral convention but destabilizes the aristocratic norms that once upheld her status.

As the scandal leads to her ostracization, Anna mourns the social world she has lost, realizing too late that “the position she enjoyed in society… was precious to her… [and] she could not be stronger than she was.”

In Gustave Flaubert’s Madame Bovary (1857), Emma Bovary’s extramarital affairs unravel the networks of her provincial town, turning private yearning for luxury and romance into public contagion.

Nathaniel Hawthorne’s The Scarlet Letter (1850) makes this explicit: Hester Prynne’s scarlet “A” turns her sin into civic theatre. Public shaming on the scaffold, the novel suggests, delineates moral boundaries and seeks to restore social order — a process that prefigures today’s “digital pillories,” where viral moments subject individuals to mass online judgment and public condemnation.

Domestic crumbs and digital scaffolds

Contemporary narratives shift the setting but uphold the same principle: betrayal devastates the mundane rituals that build trust.

‘Heartburn’ by Nora Ephron.
(Penguin Random House)

Nora Ephron’s autobiographical novel Heartburn (1983), based on her own marriage’s collapse to investigative journalist Carl Bernstein, weaponizes domesticity.

Heartburn’s protagonist Rachel Samstat delivers her emotions through recipes — “Vinaigrette” as a marker of intimacy and betrayal, “Lillian Hellman’s Pot Roast” as a bid for domestic stability and “Key Lime Pie,” hurled at her cheating husband — become symbols of a life undone by public infidelity.

Ephron’s satire, later adapted into a film, anticipates our digital age of exposure, where private pain fuels public consumption and judgment.

‘Dept. of Speculation’ by Jenny Offill.
(Penguin Random House)

Jenny Offill’s Dept. of Speculation (2014), which draws from her own life, shows another perspective: betrayal as quiet erosion.

Offill never depicts the affair directly; instead, the husband’s absences, silences and an off-hand reference to “someone else” create a suffocating dread. This indirection shows betrayal’s power lies in its latent potential, slowly dismantling a life built on trust before any overt act.

Both works underscore betrayal’s impact on the collective conscience: a lie fractures a family as fundamentally as a CEO’s indiscretion erodes institutional trust. Power magnifies the fallout by turning private failings into public symbols of fragility. Even hidden betrayal poisons the shared rituals binding any group, making the notion of “private” unsustainable long before any public revelation.

The limits of power

Literature acknowledges power’s protective veneer from consequence — and its limits.

Theodore Dreiser’s Trilogy of Desire (1912–47), modelled on the Gilded Age robber baron Charles Yerkes, follows the rise of financier Frank Cowperwood, whose power shields him — until it doesn’t. Even his vast empire proves vulnerable once his adultery becomes public. The very networks that protected him grow wary.

Though many critics of the elite are themselves morally compromised in the trilogy, Cowperwood’s transgression becomes a weapon to discredit him. His brief exile shows that power may defer, but cannot erase, the costs of betrayal. Once trust fractures, even the powerful become liabilities. They do not fall less often — only more conspicuously.

Gender also plays a role in shaping these narratives. Male protagonists like Cowperwood rebound as tragic anti-heroes, their moral failings recast as flaws of character. By contrast, women — think Flaubert’s Emma Bovary or Hawthorne’s Hester Prynne — are branded cautionary figures, their transgressions stigmatized rather than mythologized.

This imbalance in assigning consequences reveals a deeper societal judgment: while broken trust demands repair, the path to restoration often depends on the transgressor’s gender.

The unblinking eye

From Tolstoy’s salons to TikTok’s scroll, literature offers no refuge from betrayal’s ripple effects. When private trust visibly fractures, communal reflexes kick in.

Scarlet letters, exile or a CEO’s resignation all aim to heal the collective trust. The jumbotron, like Hester’s scaffold, is the latest instrument in this age-old theatre of exposure.

Jumbotrons. Scaffolds. Same operating system. Same shame.

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

– ref. Caught on the jumbotron: How literature helps us understand modern-day public shaming – https://theconversation.com/caught-on-the-jumbotron-how-literature-helps-us-understand-modern-day-public-shaming-261638

MIL OSI Analysis –

July 25, 2025

MIL-OSI USA: Nearly $30 Million for Maine Fire Stations and Public Safety Facilities Advanced by Senator Collins in Funding Bill Nearly $30 Million for Maine Fire Stations and Public Safety Facilities Advanced by Senator Collins in Funding Bill

US Senate News:

Source: United States Senator for Maine Susan Collins

Washington, D.C. – U.S. Senator Susan Collins, Chair of the Senate Appropriations Committee, announced that she advanced $29,875,000 in Congressionally Directed Spending for Maine fire stations and public safety facilities in the Fiscal Year (FY) 2026 Transportation, Housing and Urban Development (THUD) Appropriations bill. The bill, which was officially approved by the Senate Appropriations Committee today, now awaits consideration by the full Senate and House.

“There is an enormous need to update fire stations throughout the State of Maine to ensure both the safety of our brave first responders and communities,” said Senator Collins. “This funding would help to improve public safety efforts and emergency response services throughout Maine. As the Chair of the Appropriations Committee, I will continue to advocate for this funding as the appropriations process moves forward.”

This funding advanced through the Committee’s markup of the FY 2026 THUD Appropriations bill—an important step that now allows the bill to be considered by the full Senate.

Funding advanced by Senator Collins for Maine fire stations and public safety facilities in the FY 2026 THUD Appropriations bill is as follows:

Brownville Fire Station

Recipient: Town of Brownville

Project Location: Brownville, ME

Amount Requested: $2,770,000

Project Purpose: To renovate the fire station.

Dixmont Fire and Rescue Station

Recipient: Town of Dixmont

Project Location: Dixmont, ME

Amount Requested: $2,332,000

Project Purpose: To construct a fire and rescue station.

Eagle Lake Fire Department Substation

Recipient: Town of Eagle Lake

Project Location: Eagle Lake, ME

Amount Requested: $150,000

Project Purpose: To support the construction of the Town of Eagle Lake’s Fire Department substation.

Easton Fire Station

Recipient: Town of Easton

Project Location: Easton, ME

Amount Requested: $3,600,000

Project Purpose: To construct a fire station.

Island Falls Fire and Ambulance Department

Recipient: Town of Island Falls

Project Location: Island Falls, ME

Amount Requested: $1,603,000

Project Purpose: To expand the fire and ambulance department.

Kenduskeag Fire Station

Recipient: Kenduskeag Fire Department

Project Location: Kenduskeag, ME

Amount Requested: $3,500,000

Project Purpose: To construct a fire station.

Monson Fire Station

Recipient: Town of Monson

Project Location: Monson, ME

Amount Requested: $3,000,000

Project Purpose: To construct a new fire station.

North Berwick Fire and Rescue Station

Recipient: Town of North Berwick

Project Location: North Berwick, ME

Amount Requested: $3,400,000

Project Purpose: To construct a fire and rescue station.

Sanford Public Safety Facilities

Recipient: City of Sanford

Project Location: Sanford, ME

Amount Requested: $5,000,000

Project Purpose: To construct public safety facilities.

Stacyville Fire Station

Recipient: Stacyville Fire Department

Project Location: Stacyville, ME

Amount Requested: $2,000,000

Project Purpose: To construct a new fire station.

Wesley Volunteer Fire Station

Recipient: Wesley Volunteer Fire Department

Project Location: Wesley, ME

Amount Requested: $2,520,000

Project Purpose: To construct a fire station.

Earlier this month, Senator Collins advanced more than $12 million in Congressionally Directed Spending for Maine fire stations and emergency services in the FY 2026 Agriculture, Rural Development, and Food and Drug Administration Appropriations bill.

In 2021, Congress reinstituted Congressionally Directed Spending. Following this decision, Senator Collins has secured more than $1 billion for hundreds of Maine projects for FY 2022, FY 2023, and FY 2024. As the Chair of the Appropriations Committee, Senator Collins is committed to championing targeted investments that will benefit Maine communities.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Congressman Baird Applauds Secretary Rollins and USDA for Reorganization Efforts and Moving Operations to Indiana

Source: United States House of Representatives – Congressman Jim Baird (R-IN-04)

Congressman Baird Applauds Secretary Rollins and USDA for Reorganization Efforts and Moving Operations to Indiana

Washington, July 24, 2025

Today, Congressman Jim Baird (IN-04) applauded U.S. Secretary of Agriculture Brooke Rollins and the U.S. Department of Agriculture (USDA)’s announcement on reorganizing the department to better align with its mission of supporting American agriculture by moving a portion of USDA’s operations to Indianapolis, IN.

“For far too long, our federal agencies in Washington, D.C., have made decisions affecting millions of Americans with no connection to the people they serve,” said Congressman Baird. “The bloated bureaucracy in the swamp has grown, while the services our federal agencies provide have not improved, all at taxpayers’ expense. I am proud that the USDA has chosen to make better use of taxpayer funds through this reorganization and relocate a portion of the agency to the great State of Indiana. Our state truly is the crossroads of America, and with our thriving and diverse agricultural industries, Secretary Rollins made an excellent decision in choosing to relocate USDA closer to our farmers. Indiana boasts of its diverse agricultural products and exports and is one of the top agricultural states in our country. With our excellent land-grant universities and their extensions, Indiana is also a leader in research and development, making our state uniquely poised to provide our farmers with access to cutting-edge innovations and technologies. I thank Secretary Rollins for her outstanding leadership at USDA and for her continued commitment to prioritizing our great American farmers and producers.”

“We are thrilled to see the responsiveness of Secretary Rollins and the administration to support farmers and ranchers by moving government closer to farmers and ranchers. A big win for Indiana and Midwest farmers in particular,” said Scott Beck, President of Beck’s Hybrids.

###

MIL OSI USA News –

July 25, 2025

MIL-OSI Analysis: Gaza and Ukraine are both waiting for action

Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

For the past few weeks the headlines about Gaza have focused on the hundreds of people who have been killed while queueing for food. The aid distribution system put in place in May, backed by the US and Israel and run by the Gaza Humanitarian Foundation, has proved to be chaotic and allegedly resulted in violence, with both Israel Defense Forces personnel and armed Palestinian gangs blamed for killing about 1,000 people in the two months the new system has been operating.

Now the headlines are focusing on the growing number of people dying of starvation.

Harrowing reports from the Gaza Strip report almost daily on the children dying of malnutrition in hospitals and clinics that simply don’t have the food to keep them alive. Writing in the Guardian this week, a British volunteer surgeon working in one of Gaza’s hospitals, Nick Maynard, described patients who “deteriorate and die, not from their injuries, but because they are too malnourished to survive surgery”.

The UK and 27 other countries this week has condemned the “drip feeding of aid and the inhumane killing of civilians” who are trying to get food and water. And yet, writes Simon Mabon, still the world’s leaders look on: “Most are apparently content to condemn – but little action has been taken.”

Mabon, a professor of international relations at Lancaster University, quotes the latest report from the IPC, which monitors food security in conflict situations. It estimates that 500,000 people in Gaza are considered to be facing “catastrophe”, while a further 1.1 million fall into the “emergency” risk category. Both categories anticipate a steadily rising death rate among civilians in Gaza.

So how can Israel’s allies apply pressure on Benjamin Netanyahu’s government to bring an end to the violence and allow Palestinian civilians access to the food, water and medical supplies they so desperately need?

Mabon canvasses a range of options. First of all, countries that have yet to recognise the state of Palestine can do so. It’s nonsense, Madon believes, to talk of a two-state solution – as the UK government does – when you haven’t actually recognised the second state in the equation.

Then they could stop selling arms to Israel. Many countries already have. But the US still issues export licenses for some weapons that are sold to Israel.

There are a plethora of other things world leaders could do to pressure Israel. Mabon recommends having a look at what the world did to isolate South Africa during the apartheid years, measures which eventually helped bring about meaningful change there.

As for Netanyahu, the Israeli prime minister is reported to be considering an early election. In previous months this looked like a move freighted with jeopardy. An election loss brought on by a disenchanted electorate, heartbroken at the hostage situation and exhausted by the conflict, would probably mean having to face the charges of corruption which have hung over him for more than five years.

But recent polls have suggested a bump in popularity following his 12-day campaign against Iran. Netanyahu is nothing if not a clever political manipulator. But Brian Brivati, a professor of contemporary history and human rights at Kingston University, believes that to have a chance of winning, the prime minister will need to fight a campaign on three narratives of his government’s success: securing the release of the hostages, defeating Hamas and delivering regional security. “It is a tall order,” Brivati concludes.

Anyone following the situation in Gaza over the past 18 months will have encountered Francesca Albanese, the UN’s special rapporteur for Palestine’s occupied territories. For three years she has monitored the human rights situation in Gaza and the West Bank, delivering trenchant criticism of Israel’s conduct and those who, by their inaction – and sometimes contrivance – have enabled it.

Earlier this months, the US government imposed sanctions on Albanese, because – as US secretary of state Marco Rubio insisted – she has engaged with the International Criminal Court (also subject to US sanctions) “in efforts to investigate, arrest, detain, or prosecute nationals of the United States or Israel”. Also she has written “threatening letters to dozens of entities worldwide, including major American companies”.

Alvina Hoffman, an expert in diplomatic affairs and human rights at SOAS, University of London, explains what a special rapporteur does and why their work is so valuable in the defence of human rights.

Dispatches from Ukraine

To Istanbul, where delegations from Russia and Ukraine met yesterday for their third round of face-to-face talks. All 40 minutes of them. There was another agreement of prisoner swaps and the two sides decided to set up some working groups to look into various political, military and humanitarian issues – but online rather in person.

The brevity of the talks came as no surprise to Stefan Wolff. Wolff, an expert in international security at the University of Birmingham who has provided commentary for The Conversation throughout the conflict in Ukraine, points out that both sides remain wedded to their maximalist war aims. For Russia, this is for Ukraine to accept Russia’s annexation of Crimea and four provinces of eastern Ukraine, a ban on Ukraine’s membership of Nato and a much reduced military capacity. For Ukraine, it is getting their territory back and Russian acceptance of their national sovereignty, meaning it gets to determine for itself what alliances it seeks.

Donald Trump has told Vladimir Putin that, if there’s no ceasefire in 50 days, he’ll apply harsh secondary sanctions on the countries buying Russian oil and that he plans to supply Ukraine with American weapons (via Nato’s European member states, that is). Wolff believes both sides will now play the waiting game. They will calculate their next move after September 2, when the 50 days run out, and when they know more about what the US president plans to do.

Volodymyr Zelensky, meanwhile, faces pressure from his own people. There have been days of protest at his decision to bring two formerly independent anti-corruption organisations under the direct control of the government. He argues that this was necessary to prevent Russian infiltration, while critics are saying that the Ukrainian president has launched a power grab designed to prevent independent investigation of alleged corruption against people close to him.

Jenny Mathers says these protests, which involve people from all political shades, including people who have fought in the defence of Ukraine since 2022, some with visible injuries, represents a fracture of the “informal agreement between the government and society to show a united front to the world while the war continues”.

Ukrainians protest after Zelensky signs law clamping down on anticorruption agencies.

It’s not as if Zelensky is in clear and present danger of losing his job. His party holds a majority of seats in the Ukrainian parliament, so he governs without having to depend on coalition partners. And the country’s constitution prohibits the holding of elections in wartime – whatever Putin, who regularly insists that Zelensky is an illegitimate leader because he is governing past his term limit, might think. Plus his approval rating sits at 65%.

Zelensky has been quick to soften his stance on this. Mathers says that political corruption is a very sore point in Ukraine, where there was decades of it until the Maidan protests of 2013-14 unseated the pro-Russian president Viktor Yanukovych. As she writes here, “the ‘Revolution of Dignity’ that rejected Yanukovych’s leadership and his policies was also a resounding demonstration of the strength of Ukraine’s civil society and its determination to hold its elected officials to account. Zelensky would be rash not to heed that.

He also knows it’s important for him to present a squeaky clean image to his supporters in the west. So while the protests may not present an immediate threat to his own position, he knows that unless he acts to root out corruption in Ukraine, it’ll be a threat to the future of the country itself.

But ethicist Marcel Vondermassen from the University of Tübingen believes another recent decision by the Ukrainian government is storing up trouble for the future. Ukraine has recently announced its decision to pull out of the Ottawa convention, the treaty that forbids the use of anti-personnel landmines.

In doing so, he’s following the example of Finland, Poland, Lithuania and Estonia which have all also quite the treaty in recent months for fear of Russian aggression.

But as Vondermassen points out, landmines don’t usually switch themselves off when a conflict ends and people are still being killed an maimed in former conflict zones around the world. Often it is farmers at work or children at play who are the victims. If other ways to protect countries from aggression aren’t pursued, as he puts it, in future decades we’ll still be “counting thousands of child casualties … from the landmines laid in the 2020s”.

Thailand-Cambodia: centuries-old dispute flares again

A dispute between the two south-east Asian countries that has been simmering since May flared into life yesterday when five Thai soldiers patrolling the border region were injured after stepping on a landmine – the second such incident in the past week. Both countries have sealed their border and there have been tit-for-tat ambassadorial expulsions.

Cambodia fired rockets and artillery into Thailand, killing 12 civilians. Thailand in turn has launched airstrikes against Cambodia. Both countries are blaming the other for starting it.

Petra Alderman, an expert in south-east Asian politics from London School of Economics and Political Science, traces the origins of this row, which go back to the colonial era in the 19th and early 20th centuries.

World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

– ref. Gaza and Ukraine are both waiting for action – https://theconversation.com/gaza-and-ukraine-are-both-waiting-for-action-261894

MIL OSI Analysis –

July 25, 2025

MIL-OSI USA: Fischer Advances Over $60 Million to Improve Nebraska’s Infrastructure, Firefighting Capabilities

US Senate News:

Source: United States Senator for Nebraska Deb Fischer
Advances additional provision to enhance roadway safety
Today, U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Appropriations Committee, announced she advanced over $60 million in funding to support critical infrastructure projects and firefighting capabilities across Nebraska.
The funding was included in the Fiscal Year (FY) 2026 Transportation, Housing, and Urban Development (THUD) Appropriations Act, which now awaits consideration on the Senate Floor.“From roads and bridges to railways and airports — our infrastructure keeps Nebraska’s communities connected. It allows our farmers and ranchers to bring their goods to market and enables us to travel to work or school. By investing in infrastructure, we are investing in our future. I’m proud to advance these critical investments which will improve our state’s infrastructure for Nebraska’s families and make our Good Life even better,” Fischer said.Fischer advanced funding to support critical investments in Nebraska’s infrastructure:
$6 million to the Alliance Airport for electrical improvements
$6 million to add safety enhancements to the Heartland Expressway
$5.2 million to replace the Lisco Bridge in Garden County
$5 million to extend the runway and parallel taxiway at the Blair Airport
$4.7 million to pave a 4-mile stretch of Hickory Road in Gage County
$4 million to road improvements for Fairbury Highway 36
$4 million to improve the lighting system at the Hastings Airport
$3.5 million to improve walkability and safety of downtown Omaha
$3.4 million to complete the parallel taxiway and improve the lighting system at the Nebraska City Airport
$3.4 million to make improvements to roads in Sheridan and Garden County
$3.2 million to make roadway improvements on Cedar River Road in Garfield County
$2.2 million to reconstruct the 9th street roadway in Stromsburg
$897,000 to replace or repair multiple bridges in Brown County
$880,000 to pave the Adams Bypass
$700,000 to pave the roadway and improve access to the local grain elevator in Exeter
$600,000 to relocate the Midfield Connector Taxiway at Brenner Field Airport in Falls City
Fischer advanced funding to support Nebraska’s firefighting capabilities:
$2.5 million to replace South Sioux City’s aerial ladder fire truck
$1.8 million to replace Plattsmouth’s aerial ladder fire truck
$1.3 million to upgrade Friend’s fire hall facilities
$1.3 million to upgrade Clatonia’s fire hall facilities
Fischer advanced key provision to enhance roadway safety:
Advanced language from Fischer’s She DRIVES Act by directing the National Highway Traffic Safety Administration (NHTSA) to adopt the most advanced crash test dummies.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: Ahead of Colorado River Day, Hickenlooper, Curtis Introduce Bipartisan Bill to Improve Snowpack Monitoring, Help Manage Water

US Senate News:

Source: United States Senator John Hickenlooper – Colorado
WASHINGTON – Today, U.S. Senators John Hickenlooper and John Curtis introduced the bipartisan Snow Water Supply Forecasting Program Reauthorization Act of 2025 to help better predict and measure water supply to manage drought in the West, including on the Colorado River. Tomorrow, July 25th, is Colorado River Day, which celebrates the day when the river was officially renamed to the Colorado River in 1921.
“You can’t manage what you can’t measure,” said Hickenlooper. “Snowmelt is Colorado’s largest reservoir. Leveraging advanced snow monitoring tech will give us more accurate water predictions and unlock a better understanding of how to make the most of our water in an era of extreme drought.”
“In the West, water is everything—our economy, our communities, and our way of life depend on it,” said Curtis. “This bill brings 21st century tools to one of the oldest challenges we face: knowing how much water we’ll have and when. By reauthorizing this program, we’re embracing new technology like airborne snow surveys and advanced modeling to give our water managers the clarity they need to prepare, allocate, and respond.”
More than 80% of Colorado’s annual surface water supply comes from snowmelt runoff. Accurate measurements of snowpack are necessary to have a clear picture of the snowmelt that feeds rivers and streams across the West.
The bipartisan legislation would reauthorize the Bureau of Reclamation’s (BOR) Snow Water Supply Forecasting Program which provides grants to advance emerging snow monitoring technology that improve water supply predictions.
Specifically, the bill would:
Reauthorize BOR’s Snow Water Supply Forecasting Program through 2031
Increase authorization from $15 million over five years to $32.5 million over five years
Update language in existing authorization to emphasize water supply forecasting activities that inform interstate water management decisions
Yesterday, Representatives Joe Neguse and Jeff Hurd’s companion legislation advanced out of the House Committee on Natural Resources.
As governor, Hickenlooper helped negotiate the 2019 Colorado River Basin Drought Contingency Plan, which helped protect critical levels at Lake Powell and Lake Mead and ensured continued compliance with the 1922 Colorado River Compact. In the Senate, Hickenlooper convened the bipartisan Colorado River Caucus to help address the Colorado River crisis.
The bipartisan Snow Water Supply Forecasting Program Reauthorization Act of 2025 is supported by American Rivers, the Southwestern Water Conservation District, Colorado River District, Denver Water, Colorado Department of Natural Resources, Colorado Water Congress, Colorado Municipal League, Associated Governments of Northwest Colorado, the Environmental Defense Fund, The Nature Conservancy, the National Ski Areas Association, the Family Farm Alliance, the National Audubon Society, and the Theodore Roosevelt Conservation Partnership.
Full text of the bill available HERE.

MIL OSI USA News –

July 25, 2025

MIL-OSI USA: 4th District County Fair Season Beginning Soon!

Source: United States House of Representatives – Representative Lauren Boebert (Colorado, 3)

EATON, CO—With the month of July underway, the County Fair Season is approaching quickly in the 4th Congressional District with events, performances, and contests taking place across the Eastern Plains. Congresswoman Lauren Boebert offered the following statement on the start of County Fair season, with dates and informational websites for all 21 county fairs listed below:

“Our amazing County Fairs highlight the importance of community, the talents of our ag sector workers, and the excitement of a summer season in the 4th District. I encourage all 4th District constituents to make a plan to attend their local County Fair to see everything our district has to offer. From live concerts and rodeos featuring cowboys and Mutton Bustin’ to entrepreneurs selling their crafts and our young 4-H and FFA leaders showing off their livestock, our county fairs have something for everyone to enjoy. Even if the fair food isn’t MAHA-approved, I hope everyone in the 4th District gets to spend a day at their County Fair!”

State Representative Dusty Johnson added, “County fair time – one of my favorite times of the year – is just about here! It’s a time to showcase the projects of our hardworking 4-H and FFA youth and come together as a community to celebrate our rural way of life.”

Dates and websites for 4th District County Fairs:

Cheyenne County Tumbleweed Fair, July 11-19

El Paso County Fair, July 12-19

Weld County Fair, July 19-28

Kit Carson County Fair, July 19-26

Phillips County Fair, July 22-27

Eastern Colorado Roundup (Washington County Fair), July 22-27

Crowley County Days, July 22-26

Sedgwick County Fair, July 23-27

Arapahoe County Fair, July 24-27

Logan County Fair, July 24-August 3

Douglas County Fair, July 25-August 3

Morgan County Fair, July 25-31

Elbert County Fair, July 26-August 3

Baca County Fair, July 26-August 2

Bent County Fair, July 26-August 2

Yuma County Fair, July 29-August 4

Adams County Fair, July 30-August 3

Lincoln County Fair, July 30-August 9

Larimer County Fair, August 1-5

Sand & Sage Round-Up (Prowers County Fair), August 2-9

Kiowa County Fair, September 11-13

MIL OSI USA News –

July 25, 2025

MIL-OSI Canada: Crop Report for the Period July 15 to July 21, 2025

Source: Government of Canada regional news

Released on July 24, 2025

The rain that fell through wide parts of the province over the weekend was a positive sign for many producers. However, even within regions that received the rain the impact on crop and pasture conditions was variable. In some areas, the rain came just in time to carry crops forward through flowering and grain fill, while in other areas the rain came too late to make a difference to crops or pastures.

For areas that received precipitation, producers are hopeful pasture grass recovers from grazing and stress from dry conditions. In areas where heavy rain was received, livestock water sources should see some replenishment, reducing the need to haul water for livestock.

The cooler weather and recent rainfall have helped sustain or improve topsoil moisture in the province. Topsoil moisture is highly variable region to region, but most regions have seen an increase in ratings after the recent rainfall. Provincially, cropland topsoil moisture is rated as two per cent surplus, 71 per cent adequate, 22 per cent short and five per cent very short. Hayland topsoil moisture is rated as one per cent surplus, 60 per cent adequate, 30 per cent short and nine per cent very short. Lastly, pasture topsoil moisture is rated as 59 per cent adequate, 30 per cent short and 11 per cent very short.

The rain, along with the cool weather, will give crops a break from the lack of moisture they have been under and will help them fill. The Eston area reported the most rain this week with 83 millimetres (mm), followed by the Bethune area with 74 mm, and finally the Admiral area reported 68 mm. There were many areas that reported rainfall from 15 mm to 50 mm, while other areas saw rainfall ranging from 2 mm to 15 mm.

Crop development has leveled out closer to normal for the province, and crops should use the recent rain and cooler temperatures to develop at a regular pace rather than rush or delay development due to stress. Crop development varies from region to region, with drier areas showing the most accelerated crop development.

The rain impeded haying operations over the weekend as producers waited for the crop to dry before proceeding with baling. Haying operations are almost complete with 20 per cent standing, 21 per cent cut and 59 per cent baled or put up as silage. Hay quality is rated as nine per cent excellent, 55 per cent good, 31 per cent fair and five per cent poor.

Producers report their crops are still showing damage and stress from the numerous weeks of heat and overly dry conditions this growing season. Gophers and grasshoppers are causing minor to moderate damage to crops this week with some areas seeing higher damage depending on pest populations. With the large amounts of rainfall seen in some areas, flooding was a concern for some producers as low spots in their fields have filled with water. The rain and strong winds have led to cereal crops lodging across many regions, and producers are hopeful the damage is minor and their crops can recover in time for harvest.

Producers whose crops are furthest along are beginning to get their equipment ready. The Ministry of Agriculture reminds producers to operate safely during the pressures of harvest time. Please remember to use every precaution available for fire prevention as the extremely dry conditions increase the risk of combine and grass fires.

Over the upcoming weeks, producers will be busy finishing fungicide spraying, haying and getting equipment ready for harvest. Producers are reminded to keep safety top of mind while working.

For any crop or livestock questions, producers are encouraged to call the Agriculture Knowledge Centre, toll free: 1-866-457-2377.

This can be a stressful time of year for producers as weather conditions can be unpredictable. The Farm Stress Line can help by providing support for producers toll free at 1-800-667-4442.

A complete, printable version of the Crop Report is available online.

Follow the 2025 Crop Report on Twitter at @SKAgriculture.

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MIL OSI Canada News –

July 25, 2025

MIL-OSI Africa: Angola Advances National Road Plan with €85M Support from Africa Finance Corporation (AFC)

Source: APO

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has closed and disbursed €75 million of an €85 million sovereign facility to Government of Angola, through the Ministry of Finance, to support the construction of 186 priority bridges and critical upgrades to the national road network. The project, part of Angola’s National Development Plan (2023–2027), is aimed at reducing transportation costs, facilitating access to markets for agricultural producers, and creating approximately 900 direct jobs, while strengthening the resilience, efficiency, and inclusivity of Angola’s transport system.

Solely arranged and financed by AFC, the transaction marks a significant milestone in the €381.5 million financing package previously announced, with AFC serving as the mandated lead arranger on the commercial tranche, and the U.S. Export-Import Bank through the U.S. Private Export Funding Corporation leading the export credit agency tranche. Other key partners include Standard Chartered Bank as the coordinating and structuring bank; Conduril, a leading Portuguese civil engineering firm which is the main EPC contractor; and Acrow, a U.S. construction industry giant as the bridge supplier. This disbursement reinforces AFC’s commitment to working alongside African governments to deliver infrastructure that supports inclusive growth, regional connectivity, and economic transformation.

“We are proud to advance this catalytic investment that will connect underserved regions, enhance regional trade, and improve the quality of life for millions of Angolans,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “This disbursement demonstrates AFC’s unique capacity to structure and fund impactful infrastructure projects that address critical national priorities and accelerate economic transformation,” he added.

The project is expected to significantly strengthen the resilience of Angola’s transport network to climate-related disruptions, reduce travel times, and lower logistics costs for communities, farmers, and businesses. It also supports regional integration by enhancing trade corridors and cross-border connectivity across Southern and Central Africa. With this transaction, AFC reaffirms its role as a trusted partner to African governments in delivering bankable infrastructure solutions that address the continent’s most urgent development challenges.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

www.AfricaFC.org

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MIL OSI Africa –

July 25, 2025

MIL-OSI USA: Gov. Kemp: Pilgrim’s to Build New Prepared Foods Facility, Creating 630 New Jobs in Walker County

Source: US State of Georgia

ATLANTA – Governor Brian P. Kemp today announced that Pilgrim’s, one of the world’s leading food companies, will invest $400 million to expand its footprint in Georgia. The company will build a new, multi-phase prepared foods facility in LaFayette, Walker County, supporting more than 630 new jobs at full capacity.

“Georgia’s No. 1 industry of agriculture continues to drive growth with companies like Pilgrim’s creating quality jobs in communities like LaFayette,” said Governor Brian Kemp. “As our state’s economy continues to advance, we are excited to see these continued innovations and the opportunities they will bring for hardworking Georgians.”

Pilgrim’s is a leading global provider of high-quality food products. Across the State of Georgia, the company currently supports an estimated 7,500 jobs and operates seven food production facilities, in addition to supporting facilities like feed mills and hatcheries.

“Expanding the Pilgrim’s footprint in Georgia highlights our ongoing commitment to the region and our company’s long-term growth strategy,” said Fabio Sandri, Pilgrim’s CEO. “This significant investment will allow further growth of our prepared foods business by expanding brands like Just Bare, Pilgrim’s, and Gold Kist, and supporting increasing demand in retail and foodservice channels. We are also proud of our role in creating jobs and being a strong community partner.”

The new facility, located at the Walker County Business Park in LaFayette, will produce a variety of fully cooked chicken products to support the growth of its fast-growing prepared foods business. The project is expected to get underway in the fall of 2025, and hiring is expected to begin in 2027, aligning with the expected completion of the first phase of construction. To learn more about Pilgrim’s, including where interested individuals can apply for jobs, visit jobs.pilgrims.com.

“We welcome Pilgrim’s to Walker County and LaFayette,” said LaFayette Mayor and Chairman of the Walker County Development Authority Andy Arnold. “Pilgrim’s has a wonderful history of positive community involvement, and the creation of up to 630 jobs for our area is a game changer for many families. We look forward to our partnership.”

“This is a tremendous opportunity for Walker County to provide stable jobs and long-term security for residents who want to work where they live,” said Chairwoman and CEO Angie Teems, Walker County Government. “Not only is this a well-respected company with a strong track record, but it already has a presence in our community through its partnerships with local poultry growers. Expanding their operations here is a natural next step that will strengthen our local economy and reinforce our county’s commitment to supporting hardworking families.”

Senior Regional Project Manager Lori Dowdy represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team on this competitive project in partnership with the Walker County Development Authority and Georgia Quick Start.

“We are excited that Pilgrim’s continues to grow its footprint and drive economic opportunities here in Georgia,” said GDEcD Commissioner Pat Wilson. “Agriculture has long been the backbone of our economy, laying the groundwork for today’s thriving food and beverage sector. Critical industries like cold storage and logistics build on that legacy, generating jobs and opportunities across the state. Congratulations to Walker County for helping bring these new investments and possibilities to LaFayette.”

About Pilgrim’s

Pilgrim’s employs over 61,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland, and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.

MIL OSI USA News –

July 25, 2025

MIL-OSI United Kingdom: Over £20,000 in fines handed out as council takes aim at pedicabs and illegal street traders | Westminster City Council

Source: City of Westminster

Pedicab riders and illegal street traders have been given fines, costs and victim surcharges totalling £20,202.50 following the latest round of prosecutions at City of Westminster Magistrates Court on Wednesday 9^th July.

Prosecutions for five unlicensed street traders operating on Westminster Bridge selling peanuts and balloons saw £11,127.50 in convictions handed down Another three cases adjourned.

Given the bridge’s location, Westminster City Council regularly partner with Lambeth Council and the Met Police to provide evidence for prosecutions and conduct enforcement operations on the bridge. Thanks to the joint intelligence, one of the vendors was convicted for the second time in two months for previously selling hotdogs.

A shop on Charing Cross Road was hit with the largest fine of £3,382 had previously received multiple warnings for selling a multitude of souvenir goods on the street, and while the company was dissolved in the lead up to court, the director was still held personally liable and convicted.

Additionally, nine pedicabs operators- several repeat offenders- have been hit with some the biggest individual fines totalling £9075.00 following the latest round of pedicab prosecutions.

The riders were found guilty thanks to the work of City Inspectors from Westminster City Council with fines, costs, and victim surcharges ranging from £750 to £1460 under the Control of Pollution Act 1974. Ahead of TfL’s licensing regime which is set to come into effect in early 2026 teams from the central London local Authority continue to patrol hotspot areas educating visitors against the dangers of using pedicabs and work with the Metropolitan Police to prosecute those in breach of current legislation. Given the repeat prosecutions, the council is exploring options such as injunctions or banning orders for the more prolific riders.

Deputy Leader and Cabinet Member for Children and Public Protection Cllr Aicha Less said:

This is Westminster, not the Wild West. These fines send a clear message: if you break the rules in our city you will end up out of pocket and out of excuses.”

“Whilst we work with TfL to finalise a structured the licensing scheme is being finalised, our City Inspectors continue to prosecute pedicab drivers and partner with our neighbours in Lambeth and in the Metropolitan Police to ensure unsuspecting tourists are not ripped off.”

MIL OSI United Kingdom –

July 25, 2025

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