NewzIntel.com

Category: Finance

  • MIL-OSI: From holding coins to income: LET Mining builds a passive income system for XRP

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 17, 2025 (GLOBE NEWSWIRE) — Among them, XRP is eye-catching and its price has soared because it has a strong technical network that can process a large number of transactions per second. Ripple’s cooperation with mainstream financial institutions and institutional investors in the field of cross-border payments will also benefit it.

    However, the token is still volatile and speculative. The cloud mining service launched by LET Mining allows users to use XRP payments, start a planned cloud computing power contract, and obtain passive income every day, so that users are not affected by the price of tokens and can obtain stable income every day.

    Core advantages of LET Mining platform
    ● XRP direct recharge participation: users can directly use XRP to purchase cloud computing power without currency exchange or cumbersome operations, which is more efficient and provides a better experience.

    ● Daily stable income, withdrawable at any time: mining income is settled daily and automatically distributed to the account balance. Users can withdraw or reinvest at any time to maximize income.

    ● High transparency and contract visualization: each input and output income is transparent and traceable throughout the process;

    ● Security guarantee: cold and hot wallets are separated to ensure asset security;

    How to quickly start cloud mining with XRP? Only 4 steps:

    1. Register an account
    Visit the LET Mining official website: https://letmining.com/, register to get a new user $12 registration reward.

    2. Recharge XRP
    Select “XRP Recharge” in the account, the system will generate an XRP wallet address, copy the address and transfer it from the exchange or personal wallet. (50XRP is enough to participate)

    3. Choose a contract plan
    The platform provides a variety of cloud mining contracts, including short-term stable, long-term compound interest and high return types, free to choose.

    ●Experience Contract: Investment amount: $100, contract period: 2 days, daily income of $4, expiration income: $100 + $8
    ●BTC Classic Hash Power: Investment amount: $500, contract period: 5 days, daily income of $6, expiration income: $500 + $30
    ●DOGE Classic Hash Power: Investment amount: $3,200, contract period: 22 days, daily income of $46.08, expiration income: $3,200 + $1,013.76
    ●BTC Advanced Hash Power: Investment amount: $5,000, contract period: 29 days, daily income of $76.5, expiration income: $5,000 + $2,218.5
    ●BTC Advanced Hash Power: Investment amount: $10,000, contract period: 43 days, daily income of $174, expiration income: $10,000 + $7,482

    (Click here to view more high-yield contract details)

    4. Start income
    After the contract is activated, the system will issue you mining income in proportion every day, which can be withdrawn to the XRP wallet address at any time, truly achieving “holding coins to make money” and easily enjoying digital passive income.

    From static holding to active income generation: a strategy suitable for every investor

    In today’s volatile crypto market, simply waiting for the price of the currency to rise will not give you a continuous advantage. Especially when the market is sideways or volatile, it is particularly important to have a passive income plan that can generate sustainable cash flow. The cloud mining strategy provided by LET Mining is a solution for investors to “reap profits no matter how the market changes.”

    Conclusion: Your XRP is not just a number, but also a tool for producing assets

    LET Mining turns XRP into a digital machine that “works” for you every day, without investing a lot of time and energy, but can continue to generate income. For crypto investors who are looking for a steady growth path, this is a perfect attempt to balance flexibility and efficient returns.

    Join LET Mining now and turn your XRP into a digital asset that appreciates every day, making “holding coins” truly the first step to “wealth freedom.”

    Official website: https://letmining.com/
    Contact email: info@letmining.com

    Attachment

    The MIL Network –

  • MIL-OSI: BlockchainCloudMining Announces Easy Crypto Mining Solutions as Ethereum Enters Strong Uptrend

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 17, 2025 (GLOBE NEWSWIRE) — BlockchainCloudMining, a leading provider of cloud-based cryptocurrency mining solutions, has officially announced the launch of a new suite of green, high-yield cloud mining contracts. Ethereum (ETH) has taken the spotlight again with an impressive surge of more than 20.31% in the past seven days, marking a new stage high for 2025. As market optimism intensifies, industry analysts attribute this surge to renewed institutional capital inflows from the U.S. and growing anticipation around upcoming Ethereum network upgrades.

    In response to this bullish trend, BlockchainCloudMining, a leading cloud-based mining platform, is offering ordinary investors an accessible, eco-friendly, and cost-effective way to benefit from the ETH rally — without the need for expensive mining equipment or technical know-how.

    A New Path for the Public to Join the Crypto Boom

    While direct investment in cryptocurrencies can be risky—especially during sharp price increases—BlockchainCloudMining provides a safer and more manageable alternative: cloud mining.

    With BlockchainCloudMining, users can start mining ETH and other major cryptocurrencies remotely by simply registering on the platform and choosing a mining contract that fits their goals and budget. This model removes the traditional barriers of hardware costs, electricity expenses, and maintenance challenges.

    Green, Secure, and Simple — Key Features of BlockchainCloudMining:

    • Zero Setup Costs for New Users: Receive a $12 welcome bonus upon registration. Use it to activate daily sign-in mining and earn $0.60 per day automatically — truly mining at zero cost.
    • No Equipment Needed: All mining is done remotely on hosted servers powered by clean energy.
    • Eco-Friendly Operations: Powered by solar and wind energy, supporting a sustainable future.
    • Transparent & Fast Earnings: Daily income distribution, automatic settlement, and multi-currency withdrawals.
    • User-Friendly Interface: No experience required. Register, choose a contract, and let the platform handle the rest.
    • Robust Security: Protected by bank-level encryption and multi-layer security protocols.

    Company Background: BlockchainCloudMining

    BlockchainCloudMining is a global mining services provider that aims to democratize access to digital asset generation. The platform is designed to support both newcomers and experienced investors by offering diversified mining contracts, a high level of transparency, and an environmentally responsible mining approach.

    Through a network of green energy mining farms, the company offers reliable and secure mining services backed by professional infrastructure and real-time monitoring. BlockchainCloudMining prides itself on making crypto mining truly inclusive, profitable, and sustainable.

    In order to meet the needs of different investors, BlockchainCloudMining has carefully designed a variety of XRP computing power contracts:

    ⦁【New User Experience Contract】: Investment amount: US$100, contract period 2 days, total income: US$100 + US$6.
    ⦁【WhatsMiner M66S】: Investment amount: US$500, contract period 7 days, total income: US$500 + US$45.5.
    ⦁【Bitcoin Miner S21+】: Investment amount: $3,000, contract period 20 days, total income: $3,000 + $900.
    ⦁【Bitcoin Miner S23 Hyd】: Investment amount: $16,600, contract period 38 days, total income: $16,600 + $11,354.4.
    ⦁【ANTSPACE HW5】: Investment amount: $52,000, contract period 45 days, total income: $52,000 + $51,480.
    ⦁【ANTSPACE HD5】: Investment amount: $98,000, contract period 50 days, total income: $98,000 + $122,500.
    ⦁【Avalon Immersion Cooling Mining Box】: Investment amount: $180,000, contract period 55 days, total income: $180,000 + $277,200.

    Once purchased, mining income begins accruing the next day. Withdrawals are available when the account balance reaches $100, or users may choose to reinvest for compound growth.

    The ETH Bull Market: Your Moment to Act

    With Ethereum’s surge showing signs of continued strength, now is the perfect window for investors — from first-timers to seasoned traders — to seize this digital opportunity. BlockchainCloudMining makes it possible to capitalize on ETH growth without the complexity and costs of traditional mining.

    About BlockchainCloudMining:

    BlockchainCloudMining is a professional, eco-conscious, and secure cloud mining platform committed to making digital currency mining accessible to everyone. By leveraging renewable energy and smart technology, the company empowers users to earn passive income with ease and confidence in the ever-evolving world of cryptocurrency.

    Visit the company: blockchaincloudmining.com to start your new mining journey and let your daily income create more possibilities for you.

    Company email: info@blockchaincloudmining.com

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

    The MIL Network –

  • MIL-OSI USA: Warnock Renews Effort to Address Bias in Housing Appraisals, Help Families Build Generational Wealth through Homeownership

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Warnock Renews Effort to Address Bias in Housing Appraisals, Help Families Build Generational Wealth through Homeownership

    Senator Reverend Warnock’s legislation would empower Georgians with more data and tools to fight bias that would lower their homes’ values
     For most Americans, the largest driver of wealth is their home. This makes it important to have accurate, unbiased home valuations
    Research from Brookings has found homes in Black neighborhoods are valued roughly 21% to 23% below what their valuations would be in non-Black neighborhoods
    In March, Senator Warnock introduced a comprehensive legislative package of housing bills to address the ongoing housing affordability and availability crisis in the United States
    ICYMI from The Atlanta Voice: Warnock leads Senatorial effort to even the playing field in home appraisals
    Senator Warnock: “This bill is an important next step in helping Georgia families and all Americans realize the full value of their homes, and it empowers them with more data and tools to fight bias that would lower their homes’ values”
    Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) and five of his Senate colleagues introduced new legislation to address appraisal bias in the home buying and selling processes. Housing appraisals are supposed to provide an objective estimate of a home’s market value to ensure homebuyers pay a fair price and homeowners receive the full value of their home. Unfortunately, systemic bias in the appraisal process has disadvantaged families of color for far too long. To combat appraisal biases faced by many current and aspiring homeowners, Senator Warnock’s Appraisal Modernization Act empowers Georgians with more data and tools to fight bias that would lower their homes’ values. The legislation would:
    Increase transparency to support oversight and enforcement against bias by requiring the Federal Housing Finance Agency (FHFA) to publish an online database of property-level appraisal and other home valuation data that lenders collect in connection with a mortgage application.
    Protect and empower consumers by codifying a consumer’s right to appeal a home valuation (also known as a Reconsideration of Value (ROV)) or request a second appraisal and directing the development of standardized policies to ensure consistent treatment of consumers who request an ROV or second appraisal.
    Together, these provisions will empower consumers to realize the full value of their homes. The urgency of this legislation was only further heightened when, last week, the Trump administration announced it was ending the federal task force dedicated to removing racial bias from the appraisal process. 
    “Home valuations are a critical part of the mortgage lending process and ensuring families can build generational wealth through homeownership,” said Senator Reverend Warnock. “This bill is an important next step in helping Georgia families and all Americans realize the full value of their homes, and it empowers them with more data and tools to fight bias that would lower their homes’ values.”
    “I am very proud to continue the work I started as County Executive to make homeownership more equitable and accessible. As County Executive I signed a law that outlawed appraisal bias in Prince George’s County – and now it’s time we outlaw it across the nation. Home ownership should not be just a dream for the rich but an opportunity for all. Many Marylanders see home ownership as the surest way to build wealth, and they’re right. This legislation will increase transparency, protect consumers, and give Marylanders a true chance to thrive,” said Senator Alsobrooks.
    “Too many families of color suffer from systemic biases in the home appraisal process,” said Senator Booker. “One of the largest drivers of wealth for Americans is their home, and the color of your skin should not be a determinant of your home’s value. This bill is a critical step in ensuring more reliable appraisal methods, and empowering consumers to appeal potentially discriminatory valuations.”
    “For far too long, the American Dream of buying a home has been kept out of reach for families of color by a system that is fundamentally broken,” said Senator Kim. “Every family should be able to achieve that dream, and this bill will take common sense steps to make the changes needed to make those dreams come true.”
    Inconsistency in the appraisal market can disrupt the entire housing ecosystem by improperly inflating or deflating home values, while bias can perpetuate historic disinvestment in communities of color and contribute to the widening racial and ethnic wealth and homeownership gaps. That is why industry stakeholders and fair housing advocates have long supported increasing transparency in appraisal data and why most responsible lenders believe ROV is an important part of maintaining the integrity of the appraisal process. Several studies have also identified a clear relationship between lower valuations and Black neighborhoods and revealed overt references to race in appraisals. On average, today White families hold $1.3 million in wealth, compared to $211,000 for Black and $227,000 for Latino families. For most Americans, the largest driver of wealth is their home. This makes it important to have accurate, unbiased home valuations.
    “An appraisal has the power to determine the value of a consumer’s most important financial asset and can hold the key to determining whether the consumer is able to purchase a permanent home rather than rent, access credit on reasonable terms, and build wealth for generations to come,” said Nikitra Bailey, Executive Vice President of the National Fair Housing Alliance® (NFHA ). “NFHA commends Senator Warnock and his colleagues for a sensible bill designed to help consumers, appraisers, and lenders obtain the data necessary to ensure home valuations are fair and consistent.”
    “The Housing Policy Council (HPC) has long advocated for extending access to GSE data to all market participants, to enhance risk management models and practices across the housing finance ecosystem. Shared access to all government appraisal data would be a good first step to accomplish this worthy goal. HPC looks forward to working with Senator Warnock on this important policy objective,” said Ed DeMarco, President of the Housing Policy Council.
    “As President of NAMB, I will always support any legislation that ensures the fairness, protection, and privacy of homebuyers, and I applaud Senator Warnock for leading this effort. The reality is that we must be thorough in the quest to protect consumers, and we hope that your colleagues will consider this important bill as it navigates the legislative process,” said James Nabors II, President of the National Association of Mortgage Brokers.
    “The Appraisal Modernization Actis a vital first step toward remedying the decades of discrimination that have been baked into the home valuation system. The public appraisal database will enable researchers to develop more reliable valuation methods that do not rely on old data tainted by unacceptable attitudes and practices. And strengthening the consumer’s right to appeal a defective valuation will help them to protect their home equity going forward,” said Andrew Pizor, Senior Attorney, National Consumer Law Center
    “For most homeowners, their home represents family, stability and their primary financial asset,” says Laura Arce, senior vice president, Economic Initiatives at UnidosUS. “The economic value of that home includes many factors, but the race or ethnicity of its owner should not be one of them. UnidosUS supports the Appraisal Modernization Actand applauds its sponsors, Senators Warnock, Alsobrooks, Blunt Rochester, Kim, Warren, and Booker. The home appraisal industry is overdue modernization, and this bill will bring needed transparency and a common sense right to appeal to the appraisal process. American families should not have to continue to leave equity behind.”
    As a member of the Senate Banking Committee, which oversees federal housing policies, Senator Warnock has worked to increase affordable housing and illuminate a path to homeownership, a cornerstone of the American Dream. As one of twelve brothers and sisters growing up in public housing in Savannah, Senator Warnock deeply understands the importance of having a place to call home and homeownership. In March 2025, Senator Warnock introduced a comprehensive legislative package of housing bills to address the ongoing housing affordability and availability crisis in the United States. In the past few years, Senator Warnock voted for government funding legislation that increased America’s housing supply, strengthened housing affordability, and addressed the homelessness crisis, including by: increasing the supply of affordable housing nationwide with funding to build 10,000 new rental and homebuyer units; extending funding for the Yes In My Backyard (“YIMBY”) grant program to support efforts to increase our nation’s housing supply and lower housing costs through state and local zoning changes; and delivering $275 million in new funding for Homeless Assistance Grants to help address homelessness in communities across the country and providing new resources to better connect people experiencing homelessness with health care services. Senator Warnock has also secured nearly $80 million in housing investments to provide affordable housing options for Georgians at all income levels and repair hazardous housing conditions in low-income housing units. 
    In addition to Senator Warnock, the Appraisal Modernization Act is cosponsored by U.S. Senators Angela Alsobrooks (D-MD), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Andy Kim (D-NJ), and Elizabeth Warren (D-MA). 
    A fact sheet on the legislation can be found HERE.
    Bill text for the Appraisal Modernization Act can be found HERE.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Warnock Highlights Consequences of Medical Debt Rule Reversal for Millions of Americans to ABC News Live Prime

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    ICYMI: Warnock Highlights Consequences of Medical Debt Rule Reversal for Millions of Americans to ABC News Live Prime

    Senator Reverend Warnock spoke to ABC News Live Prime anchor Linsey Davis about the Trump administration’s decision to reverse policy to keep medical debt off credit reports

    In January 2025, Senator Warnock successfully pressed the CFPB to ban credit lenders from including medical bills in credit reports and prohibit lenders from using medical information in lending decisions

    On July 14, Senator Warnock led 29 colleagues in demanding answers from the CFPB on why the Trump Administration was actively working to add medical debt back onto credit reports

    Senator Reverend Warnock: “This is an issue that impacts millions of Americans”

    Senator Reverend Warnock joins ABC News Live Prime, watch HERE

    Washington, D.C. – On Wednesday, U.S. Senator Reverend Raphael Warnock (D-GA) joined ABC News Live Prime with host Linsey Davis to discuss the Trump administration’s decision to add medical debt back onto credit reports. The administration is working to vacate the Consumer Financial Protection Bureau’s (CFPB) medical debt rule finalized in January 2025. The interview follows a Senator Warnock-led effort to demand the CFPB share relevant data and any communications it had with entities during the process that would profit from its decision.

    “This is an issue that impacts literally millions of Americans,” said Senator Reverend Warnock. “Medical debt is not a good predictor of whether or not people will pay [their debts]. There are a lot of mistakes as it turns out around medical billing.”

    “[Medical debt] drives peoples’ scores down, making it very, very difficult if not impossible to get a mortgage, to get a car loan, to start a small business. As your credit score goes down, of course, everything becomes more expensive. That seems to be a theme of the Trump administration. They’re making everything more expensive,” added Senator Warnock.

    Senator Warnock, a member of the Senate Finance Committee which oversees the federal tax code, continues to stand up in defense of Georgia consumers by holding the CFPB under President Trump accountable. In February, Senator Warnock questioned Trump administration CFPB nominees at a Banking, Housing, and Urban Affairs Committee Hearing. During the hearing, Senator Warnock asked the nominees if they agreed with President Trump on the CFPB being, ‘A very important thing to get rid of’ and if the agency would address the 266,560 outstanding complaints from Georgians in a timely manner.

    MIL OSI USA News –

  • MIL-OSI: Rivalry Announces Revocation of Management Cease Trade Order

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY), an internationally regulated sports betting and media company, is pleased to announce that effective July 17, 2025, the Ontario Securities Commission has revoked the management cease trade order (“MCTO”) it had previously granted to the Company on May 2, 2025 under National Policy 12-203 – Management Cease Trade Orders, as the Company successfully completed the filing of its (i) annual audited financial statements, management’s discussion and analysis, and related certifications for the year ended December 31, 2024, and (ii) unaudited interim financial statements, management’s discussion and analysis, and related certifications for the three months ended March 31, 2025 (collectively, the “Annual and Interim Filings”).

    The revocation of the MCTO means members of management are no longer prevented from trading the Company’s securities. All of the Annual and Interim Filings are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

    About Rivalry

    Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.

    No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

    Company Contact:
    Steven Salz, Co-founder & CEO
    ss@rivalry.com

    Investor Contact:
    investors@rivalry.com

    Cautionary Note Regarding Forward-Looking Information and Statements

    This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

    Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations and the Company’s ability to operate as a going concern; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s management’s discussion and analysis for the 12 months ended December 31, 2024 under the heading “Risk Factors”, and other disclosure documents available on the Company’s SEDAR+ profile at www.sedarplus.ca.

    No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

    The MIL Network –

  • MIL-OSI New Zealand: Trade – Canada-NZ dairy dispute: A win for exporters

    Source: BusinessNZ

    ExportNZ is pleased to see a years-long dairy dispute between Canada and New Zealand resolved, unlocking higher export value for Kiwi business.
    Executive Director Josh Tan says the outcome is a win for New Zealand dairy exporters, and a win for the rules-based trading system.
    “It’s essential that our trade agreements function as they were agreed to – particularly in the current global trade context. Likewise, our trade partners should ensure they are playing by the rules.
    “Canada remains a valuable trade partner to New Zealand. In agreeing to meet its obligations under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Canada has guaranteed better market access for Kiwi exporters and we commend them for honouring this agreed outcome.
    “ExportNZ acknowledges the Minister for Trade and Investment and our New Zealand officials, for their persistent effort to reach the right outcome under the CPTPP agreement.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: Rep. Barry Moore cosponsors bipartisan Bridge Investment and Modernization Act

    Source: United States House of Representatives – Congressman Barry Moore

    Washington D.C. – Congressman Barry Moore (AL-01) cosponsored the Bridge Investment and Modernization Act of 2025, introduced by Transportation and Infrastructure Committee members Representatives Shomari Figures (AL-02) and Mike Ezell (MS-04).

    This bipartisan legislation reauthorizes the Bridge Investment Program through 2031 and cuts government red tape that only allowed one large Bridge Investment Program grant per state. Reauthorizing this program will streamline federal funding, ensuring projects like the I-10 Bridge and Bayway Project get the necessary resources needed for completion.

    This legislation will deliver faster, more effective repairs and upgrades to bridges across the nation. The Bridge Investment and Modernization Act was also submitted into the Surface Transportation Reauthorization Portal by Reps. Figures and Ezell for consideration in the reauthorization package, which is expected to come to the floor later this year or early next year.

    “Alabama’s economy depends on strong roads and bridges to transport goods, support businesses, and connect our communities,” said Moore. “I’m proud to support this bill, which makes critical reauthorizations to move federal dollars where they’re needed most while cutting the bureaucratic red tape we see so often in Washington. This bill allows for continued investments in American infrastructure and specifically advances projects like the I-10 Bridge and Bayway Project in Mobile, making travel safer and easier for so many across the Gulf Coast. I will continue working with President Trump and Transportation Secretary Duffy to ensure we deliver on a new I-10 bridge.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Three Memphis Bank Robbers Convicted at Trial

    Source: US State of California

    A federal jury in Memphis, Tennessee, convicted three men today for their roles in a violent bank robbery conspiracy, involving five bank robberies and an attempted sixth, in which the robbers shot two people. The defendants were found guilty of four bank robberies and using firearms during some of those robberies. Four of their co-defendants have pleaded guilty.

    “The bank robberies committed by these seven defendants included gun-point threats, instilling fear and chaos in innocent victims going about their days,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Their actions terrorized bank employees and customers alike. We are grateful to our prosecutors, the FBI, and our local law enforcement partners for bringing these dangerous individuals to justice and helping make the Memphis community safer.”   

    “The hard work and determination of the FBI and its partners cannot be overstated,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division, “We are proud that our actions held these criminals accountable for their harm to the Memphis community.”

    Evidence at trial proved that between April 2023 and December 2023, the defendants, Courtney Trenell, 34; Devin Hinds, 36; and Joshua Cribbs, 33, all of Memphis, conspired to rob banks in and around Memphis. Four of the co-conspirators, Robert Haley, Travis Drain, Marquarius Trenell, and Monterrio Trenell, already pleaded guilty to bank robbery and using a firearm during the robberies.

    During the Aug. 11, 2023, robbery of a branch of Truist Bank, Hinds raised a gun and shook it back and forth at a bank customer to instill fear and deter her from notifying law enforcement. He then served as a getaway driver. Hinds also drove a getaway car during the Dec. 22, 2023, robbery of a branch of the Independent Bank where a co-defendant pointed a semi-automatic military-style rifle at bank employees.

    Courtney Trenell and Cribbs helped rob branches of the Bank of Bartlett and First Horizon Bank on Oct. 20, 2023. The defendants planned to rob the banks, which are directly across the street from each other, at the same time to confuse law enforcement and evade capture. Cribbs entered the Bank of Bartlett with a trash bag and threatened bank employees into handing over money. Cribbs unknowingly took at least one dye pack, which exploded after the robbers fled, releasing red dye that stained the stolen cash. During the Bank of Bartlett robbery, Courtney Trenell operated a second getaway vehicle stationed about a mile from the robbery, aiding one of the robbers in fleeing the area.

    At trial, an FBI special agent testified that the defendants spoke over conference calls before and after the robberies, which the government argued was to coordinate the crimes. An FBI analyst testified that DNA evidence from Courtney Trenell and Hinds was found inside their respective getaway vehicles.

    In total, the group stole over $170,000 cash from five bank robberies. The sixth robbery attempt was unsuccessful and ended in a shoot-out between the co-defendants and an armed security guard where the robbers shot two victims. Co-defendants Haley and Drain coordinated the five robberies and one attempted robbery throughout the conspiracy, while Marquarius Trenell robbed the Truist Bank on Aug. 11, 2023, as well as the Bank of Bartlett with Monterrio Trenell, and others, on Oct. 20, 2023. 

    Defendants Travis Drain and Mario Patterson accost bank employees on Dec. 22, 2023, while Devin Hinds waits outside in a getaway car.

    Cribbs is scheduled to be sentenced on Oct. 22, and Courtney Trenell and Hinds are scheduled to be sentenced on Oct. 23. Their co-defendants who earlier pleaded guilty will face sentencing later this year. A federal district judge will determine sentences after considering the U.S. Sentencing Guidelines and other statutory factors. Hinds faces a maximum penalty of life in prison for his use of a firearm during a bank robbery; Courtney Trenell and Cribbs each face a maximum penalty of 20 years in prison for their roles in the robberies.

    A grand jury indicted an eighth co-defendant, Mario Patterson, 45, of Memphis, for his role in the conspiracy, as well as the individual bank robberies and firearm crimes he committed. He faces trial later this year and is presumed innocent until proven guilty.

    The FBI and the Memphis Police Department Safe Streets Task Force investigated the case.

    Trial Attorney Ashleigh Atasoy of the Criminal Division’s Violent Crime and Racketeering Section (VCRS) and Assistant U.S. Attorneys Gregory A. Wagner, Stephen Hall, and Tony Arvin for the Western District of Tennessee prosecuted the case.

    This case is part of the Safe Streets Task Force’s efforts to prosecute violent crimes in Memphis, Tennessee and surrounding areas.

    MIL OSI USA News –

  • MIL-OSI USA: Three Memphis Bank Robbers Convicted at Trial

    Source: US State of California

    A federal jury in Memphis, Tennessee, convicted three men today for their roles in a violent bank robbery conspiracy, involving five bank robberies and an attempted sixth, in which the robbers shot two people. The defendants were found guilty of four bank robberies and using firearms during some of those robberies. Four of their co-defendants have pleaded guilty.

    “The bank robberies committed by these seven defendants included gun-point threats, instilling fear and chaos in innocent victims going about their days,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Their actions terrorized bank employees and customers alike. We are grateful to our prosecutors, the FBI, and our local law enforcement partners for bringing these dangerous individuals to justice and helping make the Memphis community safer.”   

    “The hard work and determination of the FBI and its partners cannot be overstated,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division, “We are proud that our actions held these criminals accountable for their harm to the Memphis community.”

    Evidence at trial proved that between April 2023 and December 2023, the defendants, Courtney Trenell, 34; Devin Hinds, 36; and Joshua Cribbs, 33, all of Memphis, conspired to rob banks in and around Memphis. Four of the co-conspirators, Robert Haley, Travis Drain, Marquarius Trenell, and Monterrio Trenell, already pleaded guilty to bank robbery and using a firearm during the robberies.

    During the Aug. 11, 2023, robbery of a branch of Truist Bank, Hinds raised a gun and shook it back and forth at a bank customer to instill fear and deter her from notifying law enforcement. He then served as a getaway driver. Hinds also drove a getaway car during the Dec. 22, 2023, robbery of a branch of the Independent Bank where a co-defendant pointed a semi-automatic military-style rifle at bank employees.

    Courtney Trenell and Cribbs helped rob branches of the Bank of Bartlett and First Horizon Bank on Oct. 20, 2023. The defendants planned to rob the banks, which are directly across the street from each other, at the same time to confuse law enforcement and evade capture. Cribbs entered the Bank of Bartlett with a trash bag and threatened bank employees into handing over money. Cribbs unknowingly took at least one dye pack, which exploded after the robbers fled, releasing red dye that stained the stolen cash. During the Bank of Bartlett robbery, Courtney Trenell operated a second getaway vehicle stationed about a mile from the robbery, aiding one of the robbers in fleeing the area.

    At trial, an FBI special agent testified that the defendants spoke over conference calls before and after the robberies, which the government argued was to coordinate the crimes. An FBI analyst testified that DNA evidence from Courtney Trenell and Hinds was found inside their respective getaway vehicles.

    In total, the group stole over $170,000 cash from five bank robberies. The sixth robbery attempt was unsuccessful and ended in a shoot-out between the co-defendants and an armed security guard where the robbers shot two victims. Co-defendants Haley and Drain coordinated the five robberies and one attempted robbery throughout the conspiracy, while Marquarius Trenell robbed the Truist Bank on Aug. 11, 2023, as well as the Bank of Bartlett with Monterrio Trenell, and others, on Oct. 20, 2023. 

    Defendants Travis Drain and Mario Patterson accost bank employees on Dec. 22, 2023, while Devin Hinds waits outside in a getaway car.

    Cribbs is scheduled to be sentenced on Oct. 22, and Courtney Trenell and Hinds are scheduled to be sentenced on Oct. 23. Their co-defendants who earlier pleaded guilty will face sentencing later this year. A federal district judge will determine sentences after considering the U.S. Sentencing Guidelines and other statutory factors. Hinds faces a maximum penalty of life in prison for his use of a firearm during a bank robbery; Courtney Trenell and Cribbs each face a maximum penalty of 20 years in prison for their roles in the robberies.

    A grand jury indicted an eighth co-defendant, Mario Patterson, 45, of Memphis, for his role in the conspiracy, as well as the individual bank robberies and firearm crimes he committed. He faces trial later this year and is presumed innocent until proven guilty.

    The FBI and the Memphis Police Department Safe Streets Task Force investigated the case.

    Trial Attorney Ashleigh Atasoy of the Criminal Division’s Violent Crime and Racketeering Section (VCRS) and Assistant U.S. Attorneys Gregory A. Wagner, Stephen Hall, and Tony Arvin for the Western District of Tennessee prosecuted the case.

    This case is part of the Safe Streets Task Force’s efforts to prosecute violent crimes in Memphis, Tennessee and surrounding areas.

    MIL OSI USA News –

  • MIL-OSI Security: California Man Convicted at Trial

    Source: Office of United States Attorneys

    FORT WAYNE – Petru-Razvan Bruma, 40 years old, a citizen of the United Kingdom and a California resident, was found guilty of possessing device-making equipment after a three-day jury trial presided over by United States District Court Chief Judge Holly A. Brady, announced Acting United States Attorney M. Scott Proctor.

    This case involved the defendant’s possession of shimmer devices and pinhole cameras installed on two local automatic teller machines.  These items were designed to capture the card numbers and personal identification numbers of bank customers. 

    “Bruma traveled into this District with devices made to steal personal bank information from unsuspecting ATM customers,” said Proctor.  “Thanks to excellent work by our team of investigators and prosecutors, he was charged and convicted for his conduct.  This should send a clear message: If you come to Northern Indiana to commit crimes, you will be held accountable.”

    Sentencing is scheduled for August 13, 2025.  Any specific sentence to be imposed will be determined by the District Court Judge after consideration of federal statutes and the United States Sentencing Guidelines.

    This case was investigated by the Federal Bureau of Investigation, the United States Secret Service, and the Fort Wayne Police Department. The case was prosecuted by Assistant United States Attorneys Lesley Miller Lowery and Justin Sheridan.

    MIL Security OSI –

  • MIL-OSI Security: Pocatello Man Sentenced to Federal Prison for Trafficking Drugs

    Source: Office of United States Attorneys

    POCATELLO – Jack Edward Newsom, 43, of Pocatello, was sentenced to 121 months in prison for possession with intent to distribute methamphetamine, Acting U.S. Attorney Justin Whatcott announced today.  Chief U.S. District Judge David C. Nye also ordered Newsom to serve five years of supervised release after he completes his prison sentence.

    According to court records, Newsom was arrested on May 8, 2024, when police officers executed a search warrant on his home and a fifth-wheel trailer parked in a storage facility. The officers seized 48.9 grams of fentanyl powder and a half a pound of methamphetamine from the residence in addition to a pound of marijuana, half a pound of methamphetamine, 79.6 grams of fentanyl powder, and 237 fentanyl pills from the fifth-wheel trailer. The warrant was executed after a months-long investigation in which law enforcement bought three and a half pounds of methamphetamine from Newsom on five occasions between February and April 2024.

    Acting U.S. Attorney Whatcott commended the cooperative efforts of the Federal Bureau of Investigation and the BADGES Task Force. The BADGES Task Force is a federally funded High Intensity Drug Trafficking Area (HIDTA) partnership between the Drug Enforcement Administration, the Idaho State Police, the Pocatello Police Department, the Chubbuck Police Department, and the Bannock County Sheriff’s Office.

    This case was investigated though the Oregon-Idaho High Intensity Drug Trafficking Area (HIDTA) program. HIDTA is an Office of National Drug Control Policy (ONDCP) sponsored counterdrug grant program that coordinates with and provides funding resources to multiagency drug enforcement initiatives, including the BADGES Task Force.

    The BADGES Task Force is a collaboration of federal, state, and local law enforcement agencies that focuses primarily on drug trafficking crimes in Bannock County and throughout the region.

    ###

    MIL Security OSI –

  • MIL-OSI: PDF Solutions to Report Second Quarter Fiscal 2025 Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., July 17, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor ecosystem, announced that it will release Second quarter fiscal 2025 financial results after the market close on Thursday, August 7, 2025. John Kibarian, CEO, and Adnan Raza, CFO, will host a live teleconference on Thursday, August 7, 2025, beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the results.

    To participate on the live call, analysts and investors should pre-register at: https://register-conf.media-server.com/register/BId4a92799e4e24169a58f6ea3c713566b

    Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial-in into the call ten minutes ahead of scheduled time.

    The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website.

    About PDF Solutions
    PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

    Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com/.

    PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

    Company Contacts

    Adnan Raza
    Chief Financial Officer
    (408) 516-0237
    adnan.raza@pdf.com

    Sonia Segovia
    Investor Relations
    (408) 938-6491
    sonia.segovia@pdf.com

    The MIL Network –

  • MIL-OSI Security: Three Memphis Bank Robbers Convicted at Trial

    Source: United States Attorneys General 1

    A federal jury in Memphis, Tennessee, convicted three men today for their roles in a violent bank robbery conspiracy, involving five bank robberies and an attempted sixth, in which the robbers shot two people. The defendants were found guilty of four bank robberies and using firearms during some of those robberies. Four of their co-defendants have pleaded guilty.

    “The bank robberies committed by these seven defendants included gun-point threats, instilling fear and chaos in innocent victims going about their days,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Their actions terrorized bank employees and customers alike. We are grateful to our prosecutors, the FBI, and our local law enforcement partners for bringing these dangerous individuals to justice and helping make the Memphis community safer.”   

    “The hard work and determination of the FBI and its partners cannot be overstated,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division, “We are proud that our actions held these criminals accountable for their harm to the Memphis community.”

    Evidence at trial proved that between April 2023 and December 2023, the defendants, Courtney Trenell, 34; Devin Hinds, 36; and Joshua Cribbs, 33, all of Memphis, conspired to rob banks in and around Memphis. Four of the co-conspirators, Robert Haley, Travis Drain, Marquarius Trenell, and Monterrio Trenell, already pleaded guilty to bank robbery and using a firearm during the robberies.

    During the Aug. 11, 2023, robbery of a branch of Truist Bank, Hinds raised a gun and shook it back and forth at a bank customer to instill fear and deter her from notifying law enforcement. He then served as a getaway driver. Hinds also drove a getaway car during the Dec. 22, 2023, robbery of a branch of the Independent Bank where a co-defendant pointed a semi-automatic military-style rifle at bank employees.

    Courtney Trenell and Cribbs helped rob branches of the Bank of Bartlett and First Horizon Bank on Oct. 20, 2023. The defendants planned to rob the banks, which are directly across the street from each other, at the same time to confuse law enforcement and evade capture. Cribbs entered the Bank of Bartlett with a trash bag and threatened bank employees into handing over money. Cribbs unknowingly took at least one dye pack, which exploded after the robbers fled, releasing red dye that stained the stolen cash. During the Bank of Bartlett robbery, Courtney Trenell operated a second getaway vehicle stationed about a mile from the robbery, aiding one of the robbers in fleeing the area.

    At trial, an FBI special agent testified that the defendants spoke over conference calls before and after the robberies, which the government argued was to coordinate the crimes. An FBI analyst testified that DNA evidence from Courtney Trenell and Hinds was found inside their respective getaway vehicles.

    In total, the group stole over $170,000 cash from five bank robberies. The sixth robbery attempt was unsuccessful and ended in a shoot-out between the co-defendants and an armed security guard where the robbers shot two victims. Co-defendants Haley and Drain coordinated the five robberies and one attempted robbery throughout the conspiracy, while Marquarius Trenell robbed the Truist Bank on Aug. 11, 2023, as well as the Bank of Bartlett with Monterrio Trenell, and others, on Oct. 20, 2023. 

    Defendants Travis Drain and Mario Patterson accost bank employees on Dec. 22, 2023, while Devin Hinds waits outside in a getaway car.

    Cribbs is scheduled to be sentenced on Oct. 22, and Courtney Trenell and Hinds are scheduled to be sentenced on Oct. 23. Their co-defendants who earlier pleaded guilty will face sentencing later this year. A federal district judge will determine sentences after considering the U.S. Sentencing Guidelines and other statutory factors. Hinds faces a maximum penalty of life in prison for his use of a firearm during a bank robbery; Courtney Trenell and Cribbs each face a maximum penalty of 20 years in prison for their roles in the robberies.

    A grand jury indicted an eighth co-defendant, Mario Patterson, 45, of Memphis, for his role in the conspiracy, as well as the individual bank robberies and firearm crimes he committed. He faces trial later this year and is presumed innocent until proven guilty.

    The FBI and the Memphis Police Department Safe Streets Task Force investigated the case.

    Trial Attorney Ashleigh Atasoy of the Criminal Division’s Violent Crime and Racketeering Section (VCRS) and Assistant U.S. Attorneys Gregory A. Wagner, Stephen Hall, and Tony Arvin for the Western District of Tennessee prosecuted the case.

    This case is part of the Safe Streets Task Force’s efforts to prosecute violent crimes in Memphis, Tennessee and surrounding areas.

    MIL Security OSI –

  • MIL-OSI: Graphjet provides Nasdaq hearing update

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, July 17, 2025 (GLOBE NEWSWIRE) — Graphjet Technology (“Graphjet” or “the Company”) (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, announced that Mr. Chris Lai, the CEO/CFO of Graphjet has attended the previously reported hearing with the Hearing Panel on July 17, 2025 and has together with the Company’s attorney presented the Company’s case to the Hearing Panel.

    During the hearing, Mr. Chris Lai made a commitment to the Hearing Panel that the Company’s Forms 10Q for the three months ended December 31, 2024, March 31, 2025 and June 30, 2025 would be filed by the middle of September 2025. The Company will update investors by making an additional press release should there be any material changes to mid-September filing.

    The Hearing Panel will review the Company’s presentation, and is expected to return a decision within two weeks.  There can be no assurance that the Hearing Panel will approve the Company for continued listing on Nasdaq. 

    The Company will make additional update press releases from time to time when there is a material development.

    About Graphjet Technology Sdn. Bhd.
    Graphjet Technology Sdn. Bhd. (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet’s sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.

    Cautionary Statement Regarding Forward-Looking Statements
    The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet’s industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet’s ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations.

    Graphjet Technology Contacts

    Investors
    ceo.graphjet@graphjettech.com

    Media
    ceo.graphjet@graphjettech.com

    The MIL Network –

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

    Source: New Zealand Government

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI New Zealand News –

  • MIL-OSI Security: Two Men Indicted with Conspiracy to Distribute 900 Pounds of Methamphetamine, One Charged with Illegal Reentry

    Source: Office of United States Attorneys

    ST. PAUL, Minn. – Joel Casas-Santiago, 46, and Guillermo Mercado-Chaparro, 44, are both charged with one count of Conspiracy to Distribute Methamphetamine. Mercado-Chaparro is additionally charged with Illegal Reentry by a Removed Alien, announced Acting U.S. Attorney Joseph H. Thompson.

    According to court documents, an undercover police officer bought a pound of methamphetamine from Mercado-Chaparro, who was driving a Toyota Tacoma truck during the buy. Through post-buy surveillance, police learned that Mercado-Chaparro was traveling driving throughout south Minneapolis to conduct suspected drug deals.

    Several days later, police saw Mercado-Chaparro walk to the Tacoma, retrieve two large garbage bags from the truck bed, and place them in a nearby Jeep Wrangler. The Jeep was eventually stopped, and Casas-Santiago and Mercado-Chaparro were ordered out of the car. A drug-sniffing dog alerted the odor of drugs in the Jeep.  When police searched the Jeep, they found over 250 pounds of methamphetamine in the garbage bags and a cooler.

    Police arrested Casas-Santiago and Mercado-Chaparro and then obtained a search warrant for the Tacoma. They searched the truck and seized over 630 pounds of methamphetamine from the truck bed.

    Altogether, Casas-Santiago and Mercado-Chaparro were in possession of almost 900 pounds of methamphetamine with the intent to distribute.

    “This isn’t just another drug bust—it’s one of the largest methamphetamine seizures in Minnesota history,” said Acting United States Attorney Joseph H. Thompson. “A 900-pound haul like this doesn’t just show intent to distribute. It shows intent to poison entire communities. We will not let Minnesota become a distribution hub for cartel-scale operations. This prosecution is just the beginning.”

    This case was investigated and prosecuted by the Minnesota Homeland Security Task Force (HSTF) as part of Operation Take Back America. HSTFs, which were established by President Trump in Executive Order 14159, Protecting the American People Against Invasion, are joint operations led by the Department of Justice and the Department of Homeland Security. Operation Take Back America is a nationwide federal initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    This case is the result of an investigation conducted by the Drug Enforcement Administration, Homeland Security Investigations, the Federal Bureau of Investigation, the Minnesota Bureau of Criminal Apprehension, the Ramsey County Crime Enforcement Team, the St. Paul Police Department, the Central Minnesota Violent Offender Task Force, and the Minneapolis Police Department.

    Assistant U.S. Attorneys Allen Slaughter and Campbell Warner are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Sanostee Woman Charged for 2022 Assault

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Sanostee woman is facing multiple federal charges after allegedly using a rifle to seriously injure one individual and threaten another during an August 2022 incident.

    According to court documents, on August 20, 2022, Leticia Washburn, 41, an enrolled member of the Navajo Nation, assaulted John Doe 1 and John Doe 2 with a rifle, causing serious bodily injury to John Doe 1.

    Washburn is charged with two counts each of assault with a dangerous weapon and using and carrying a firearm during and in relation to a crime of violence and one count of assault resulting in serious bodily injury and will remain in custody pending trial, which has not yet been scheduled. If convicted, Washburn faces a minimum of 10 years and up to life in prison.

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

    The Farmington Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Navajo Nation Police Department and Navajo Department of Criminal Investigations. Assistant U.S. Attorney Nicholas Marshall is prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: South Bow Announces Extension of Expiration Date for Exchange Offers Relating to Certain Outstanding Notes

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 17, 2025 (GLOBE NEWSWIRE) — South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) announces the extension of the expiration date for the previously announced exchange offers relating to certain outstanding notes of South Bow Canadian Infrastructure Holdings Ltd. (the Canadian Exchange Offer) and South Bow USA Infrastructure Holdings LLC (the U.S. Exchange Offer).

    South Bow Canadian Infrastructure Holdings Ltd. exchange offer

    South Bow Canadian Infrastructure Holdings Ltd., a wholly owned subsidiary of South Bow, has extended the expiration date for the Canadian Exchange Offer, in which: (i) the holders of its outstanding 7.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the Initial Series 1 Notes) were offered the opportunity to exchange all or a portion of their Initial Series 1 Notes for an equal aggregate principal amount of 7.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the New Series 1 Notes); and (ii) the holders of its outstanding 7.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the Initial Series 2 Notes and collectively with the Initial Series 1 Notes, the Initial Canadian Notes) were offered the opportunity to exchange all or a portion of their Initial Series 2 Notes for an equal aggregate principal amount of 7.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (the New Series 2 Notes and collectively with the New Series 1 Notes, the New Canadian Notes), in each case, upon the terms and subject to the conditions set forth in the short form prospectus of South Bow Canadian Infrastructure Holdings Ltd. dated July 3, 2025 (the Canadian Prospectus).

    South Bow Canadian Infrastructure Holdings Ltd. is extending the previous Canadian Exchange Offer expiration date of 5:00 p.m. ET on Aug. 4, 2025, to 5:00 p.m. ET on Aug. 6, 2025 (the New Expiration Date). The deadline to validly withdraw tenders of the Initial Canadian Notes also was extended to the New Expiration Date. The Canadian Exchange Offer will now expire on the New Expiration Date, unless further extended. All other terms of the Canadian Exchange Offer remain unchanged.

    South Bow Canadian Infrastructure Holdings Ltd. has filed the Canadian Prospectus with the Alberta Securities Commission (ASC) and the U.S. Securities and Exchange Commission (SEC), which contains certain important information about the Canadian Exchange Offer. South Bow Canadian Infrastructure Holdings Ltd. recommends that holders of Initial Canadian Notes read the Canadian Prospectus and the documents incorporated by reference therein carefully before deciding whether to tender their Initial Canadian Notes in exchange for New Canadian Notes in the Canadian Exchange Offer. Copies of the Canadian Prospectus and the documents incorporated by reference therein may be obtained on request without charge from the Corporate Secretary of South Bow at 707 – Fifth St. S.W., Calgary, Alta., Canada, T2P 1V8 or by telephone at 1-587-318-5410, and are also available under South Bow Canadian Infrastructure Holdings Ltd.’s SEDAR+ profile at www.sedarplus.ca and in South Bow Canadian Infrastructure Holdings Ltd.’s filings with the SEC at www.sec.gov.

    South Bow USA Infrastructure Holdings LLC exchange offer

    South Bow USA Infrastructure Holdings LLC, a wholly owned subsidiary of South Bow, has extended the expiration date for the U.S. Exchange Offer, in which: (i) the holders of its outstanding 4.911% Senior Notes due 2027 (the Initial 2027 Notes) were offered the opportunity to exchange all or a portion of their Initial 2027 Notes for an equal aggregate principal amount of 4.911% Senior Notes due 2027 (the New 2027 Notes); (ii) the holders of its outstanding 5.026% Senior Notes due 2029 (the Initial 2029 Notes) were offered the opportunity to exchange all or a portion of their Initial 2029 Notes for an equal aggregate principal amount of 5.026% Senior Notes due 2029 (the New 2029 Notes); (iii) the holders of its outstanding 5.584% Senior Notes due 2034 (the Initial 2034 Notes) were offered the opportunity to exchange all or a portion of their Initial 2034 Notes for an equal aggregate principal amount of 5.584% Senior Notes due 2034 (the New 2034 Notes); and (iv) the holders of its outstanding 6.176% Senior Notes due 2054 (the Initial 2054 Notes and collectively with the Initial 2027 Notes, the Initial 2029 Notes, and the Initial 2034 Notes, the Initial U.S. Notes) were offered the opportunity to exchange all or a portion of their Initial 2054 Notes for an equal aggregate principal amount of 6.176% Senior Notes due 2054 (the New 2054 Notes and collectively with the New 2027 Notes, the New 2029 Notes, and the New 2034 Notes, the New U.S. Notes), in each case, upon the terms and subject to the conditions set forth in the short form prospectus of South Bow USA Infrastructure Holdings LLC dated July 3, 2025 (the U.S. Prospectus).

    South Bow USA Infrastructure Holdings LLC is extending the previous U.S. Exchange Offer expiration date of 5:00 p.m. ET on Aug. 4, 2025, to 5:00 p.m. ET on Aug. 6, 2025. The deadline to validly withdraw tenders of the Initial U.S. Notes also was extended to the New Expiration Date. The U.S. Exchange Offer will now expire on the New Expiration Date, unless further extended. All other terms of the U.S. Exchange Offer remain unchanged.

    South Bow USA Infrastructure Holdings LLC has filed the U.S. Prospectus with the ASC and the SEC, which contains certain important information about the U.S. Exchange Offer. South Bow USA Infrastructure Holdings LLC recommends that holders of Initial U.S. Notes read the U.S. Prospectus and the documents incorporated by reference therein carefully before deciding whether to tender their Initial U.S. Notes in exchange for New U.S. Notes in the U.S. Exchange Offer. Copies of the U.S. Prospectus and the documents incorporated by reference therein may be obtained on request without charge from the Corporate Secretary of South Bow at 920 Memorial City Way, Suite 800, Houston, TX, U.S.A., 77024 or by telephone at 1-832-389-8831, and are also available under South Bow USA Infrastructure Holdings LLC’s SEDAR+ profile at www.sedarplus.ca and in South Bow USA Infrastructure Holdings LLC’s filings with the SEC at www.sec.gov.

    Forward-looking information and statements

    This news release contains certain forward-looking statements and forward-looking information (collectively, forward-looking statements), including forward-looking statements within the meaning of the “safe harbor” provisions of applicable securities legislation, that are based on South Bow’s current expectations, estimates, projections, and assumptions in light of its experience and its perception of historical trends. All statements other than statements of historical fact may constitute forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as, “anticipate”, “will”, “expect”, “estimate”, “potential”, “future”, “outlook”, “strategy”, “maintain”, “ongoing”, “intend”, and similar expressions suggesting future events or future performance.

    In particular, this news release contains forward-looking statements pertaining to, without limitation, the expected timing of the Canadian Exchange Offer and the U.S. Exchange Offer. These forward-looking statements are based on certain assumptions that South Bow has made as of the date of this news release regarding, among other things: the completion of the Canadian Exchange Offer and the U.S. Exchange Offer, respectively, on the expected terms and within the anticipated timelines. Although South Bow believes the assumptions and other factors reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these assumptions and factors will prove to be correct and, as such, forward-looking statements are not guarantees of future performance. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the risk that the Canadian Exchange Offer or the U.S. Exchange Offer may not be completed on the expected terms, within the anticipated timelines, or at all. The foregoing list of assumptions and risk factors should not be construed as exhaustive. Additional information on the assumptions, risks, and uncertainties relevant to the Canadian Exchange Offer are contained in the Canadian Prospectus under the heading “Risk Factors” and additional information on the assumptions, risks, and uncertainties relevant to the U.S. Exchange Offer are contained in the U.S. Prospectus under the heading “Risk Factors”.

    The forward-looking statements contained in this news release speak only as of the date hereof. South Bow does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    About South Bow

    South Bow safely operates 4,900 kilometres (3,045 miles) of crude oil pipeline infrastructure, connecting Alberta crude oil supplies to U.S. refining markets in Illinois, Oklahoma, and the U.S. Gulf Coast through our unrivalled market position. We take pride in what we do – providing safe and reliable transportation of crude oil to North America’s highest demand markets. Based in Calgary, Alberta, South Bow is the investment-grade spinoff company of TC Energy, with Oct. 1, 2024 marking South Bow’s first day as a standalone entity. To learn more, visit www.southbow.com.

    Contact information

    Investor Relations Media Relations
    Martha Wilmot Solomiya Lyaskovska
    investor.relations@southbow.com communications@southbow.com
     

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

    ABOUT DIME COMMUNITY BANCSHARES, INC.

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

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

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    About Mega Fortune Company Limited

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

    Forward-Looking Statements

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

    For more information, please contact:

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    About Mega Fortune Company Limited

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

    Forward-Looking Statements

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

    For more information, please contact:

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    Conference Call Details:

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

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

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

    About illumin:

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

    For further information, please contact.

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

    Disclaimer regarding Forward-looking Statements

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 17, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, prevent, and predict disease, today announced that it will release financial results for the second quarter 2025 after the close of trading on Thursday, July 31, 2025. The company’s management team will host a corresponding conference call beginning at 1:30 p.m. PT / 4:30 p.m. ET.

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

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

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 17, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, prevent, and predict disease, today announced that it will release financial results for the second quarter 2025 after the close of trading on Thursday, July 31, 2025. The company’s management team will host a corresponding conference call beginning at 1:30 p.m. PT / 4:30 p.m. ET.

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

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

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    The MIL Network –

  • MIL-OSI: P10 Schedules Second Quarter 2025 Earnings Release for Thursday, August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

    P10 Investor Contact:
    info@p10alts.com

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Second Quarter Highlights:

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

    1 See the GAAP to Non-GAAP reconciliations.

    2nd Quarter 2025 vs 1st Quarter 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    2nd Quarter 2025 vs 2nd Quarter 2024

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    1 See the GAAP to Non-GAAP reconciliations

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

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

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

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

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

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

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

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

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

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

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

    Chemung Financial Corporation

    GAAP to Non-GAAP Reconciliations (Unaudited)

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

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

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

    Fully Taxable Equivalent Net Interest Income and Net Interest Margin

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

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

    Efficiency Ratio

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

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

    Tangible Equity and Tangible Assets (Period-End)

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

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

    Tangible Equity (Average)

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

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

    Adjustments for Certain Items of Income or Expense

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

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

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

    Category: Financial

    Source: Chemung Financial Corp

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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


    About onsemi

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

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

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

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

    The MIL Network –