GlobeNewswire – Page 19

MIL-OSI: C&F Financial Corporation Announces Net Income for Second Quarter and First Six Months

Source: GlobeNewswire (MIL-OSI)

TOANO, Va., July 24, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $7.8 million for the second quarter of 2025, an increase of 54.3 percent compared to $5.0 million for the second quarter of 2024. The Corporation reported consolidated net income of $13.2 million for the first six months of 2025, an increase of 55.4 percent compared to $8.5 million for the first six months of 2024. The following table presents selected financial performance highlights for the periods indicated:


	For The Quarter Ended						For the Six Months Ended
Consolidated Financial Highlights (unaudited)	6/30/2025			6/30/2024			6/30/2025			6/30/2024
Consolidated net income (000’s)	$	7,767		$	5,034		$	13,162		$	8,469

Earnings per share – basic and diluted	$	2.37		$	1.50		$	4.03		$	2.50

Annualized return on average assets		1.18	%		0.82	%		1.01	%		0.69	%
Annualized return on average equity		13.06	%		9.31	%		11.23	%		7.82	%
Annualized return on average tangible common equity¹		14.70	%		10.72	%		12.72	%		9.01	%

________________________
¹ For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

“We are very pleased with our strong second-quarter earnings,” said Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Our community banking segment delivered impressive loan and deposit growth, while our mortgage banking segment saw increased loan originations. Despite continued competition for auto loans, we are encouraged by the progress of our operational efficiency initiatives and ongoing technology investments at the consumer finance segment.

Looking ahead, we’re optimistic about the second half of the year. In addition to the continued organic loan and deposit growth we expect at the community banking segment, we are excited about our recent expansion into Southwest Virginia. This strategic move extends our presence into key markets—including Roanoke, Lynchburg, Danville, Martinsville and Blacksburg—and reinforces our position as a leading community bank serving the Commonwealth of Virginia.”

Key highlights for the second quarter and first six months of 2025 are as follows.

Community banking segment loans grew $76.7 million, or 10.6 percent annualized, and $143.4 million, or 10.3 percent, compared to December 31, 2024 and June 30, 2024, respectively;
Consumer finance segment loans decreased $5.4 million, or 2.3 percent annualized, and $17.0 million, or 3.5 percent, compared to December 31, 2024 and June 30, 2024, respectively;
Deposits increased $85.5 million, or 7.9 percent annualized, and $150.3 million, or 7.1 percent, compared to December 31, 2024 and June 30, 2024, respectively;
Consolidated annualized net interest margin was 4.27 percent for the second quarter of 2025 compared to 4.12 percent for the second quarter of 2024 and 4.16 percent in the first quarter of 2025;
The community banking segment recorded a net reversal of provision for credit losses of $300,000 and a provision for credit losses of $450,000 for the second quarters of 2025 and 2024, respectively, and recorded a net reversal of provision for credit losses of $200,000 and a provision for credit losses of $950,000 for the first six months of 2025 and 2024, respectively;
The consumer finance segment recorded provision for credit losses of $2.4 million and $2.1 million for the second quarters of 2025 and 2024, respectively, and recorded provision for credit losses of $5.3 million and $5.1 million for the first six months of 2025 and 2024, respectively;
The consumer finance segment experienced net charge-offs at an annualized rate of 2.42 percent of average total loans for the first six months of 2025, compared to 2.21 percent for the first six months of 2024 and an annualized rate of 2.19 percent for the second quarter of 2025 compared to 2.64 percent for the first quarter of 2025;
Mortgage banking segment loan originations increased $67.5 million, or 46.2 percent, to $213.5 million for the second quarter of 2025 compared to the second quarter of 2024 and increased $99.8 million, or 87.7 percent compared to the first quarter of 2025; and
The Corporation issued new subordinated notes with aggregate principal of $40.0 million on June 6, 2025. Concurrently, the Corporation repurchased previously issued subordinated notes with aggregate principal of $20.0 million.

Community Banking Segment. The community banking segment reported net income of $7.1 million and $12.6 million for the second quarter and first six months of 2025, respectively, compared to $4.6 million and $8.6 million for the same periods of 2024, due primarily to:

higher interest income resulting from higher average balances of loans and the effects of higher average interest rates on asset yields; and
lower provision for credit losses due primarily to the resolution of a nonperforming commercial real estate loan that had carried a specific reserve, partially offset by provision related to loan growth;

partially offset by:

higher interest expense due primarily to higher average balances of interest-bearing deposits, partially offset by lower average rates on deposits; and
higher marketing and advertising expenses related to the Corporation’s strategic marketing initiative, which began in the second half of 2024.

Average loans increased $139.6 million, or 10.3 percent, for the second quarter of 2025 and increased $152.5 million, or 11.5 percent, for the first six months of 2025, compared to the same periods in 2024, due primarily to growth in the construction, construction real estate and land acquisition and development segments of the loan portfolio. Average deposits increased $156.9 million, or 7.6 percent, for the second quarter of 2025 and increased $144.4 million, or 7.0 percent, for the first six months of 2025, compared to the same periods in 2024, due primarily to higher balances of time deposits, noninterest-bearing demand deposits and saving and money market deposit accounts.

Average interest-earning asset yields were higher for the second quarter and first six months of 2025, compared to the same periods of 2024, due primarily to a shift in the mix of the loan portfolio towards higher-yielding loans, renewals of fixed rate loans originated during periods of lower interest rates and purchases of securities available for sale in the overall higher interest rate environment. Average costs of interest-bearing deposits were lower for the second quarter of 2025, compared to the second quarter of 2024 due primarily to decreases in interest rates paid on time deposits. Average costs of interest-bearing deposits were higher for the first six months of 2025, compared to the first six months of 2024, due primarily to the continued effects of a shift in the mix of deposits to higher cost time deposits, partially offset by decreases in interest rates paid on time deposits.

The community banking segment’s nonaccrual loans were $1.1 million at June 30, 2025 compared to $333,000 at December 31, 2024. The increase in nonaccrual loans compared to December 31, 2024 is due primarily to the downgrade of one residential mortgage relationship in the first quarter of 2025. The community banking segment recorded net reversals of provision for credit losses of $300,000 and $200,000 for the second quarter and first six months of 2025, compared to provision for credit losses of $450,000 and $950,000 for the same periods of 2024. At June 30, 2025, the allowance for credit losses decreased to $17.2 million, compared to $17.4 million at December 31, 2024. The allowance for credit losses as a percentage of total loans decreased to 1.12 percent at June 30, 2025 from 1.20 percent at December 31, 2024. These decreases are due primarily to the resolution of a nonperforming commercial real estate loan that had carried a specific reserve and growth in loans with shorter expected lives, which resulted in lower estimated losses over the life of the loan, partially offset by growth in the loan portfolio and changes in the forecast of key credit loss model assumptions. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

Mortgage Banking Segment. The mortgage banking segment reported net income of $985,000 and $1.4 million for the second quarter and first six months of 2025, respectively, compared to $376,000 and $670,000 for the same periods of 2024, due primarily to:

higher gains on sales of loans and higher mortgage banking fee income due to higher volume of mortgage loan originations; and
higher mortgage lender services fee income;

partially offset by:

higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits; and
lower reversal of provision for indemnifications.

Despite the sustained elevated level of mortgage interest rates, higher home prices and low levels of inventory, mortgage banking segment loan originations increased 46.2 percent and 36.2 percent for the second quarter and first six months of 2025, respectively, compared to the same periods of 2024. Mortgage loan originations for the mortgage banking segment were $213.5 million for the second quarter of 2025, comprised of $197.2 million home purchases and $16.3 million refinancings, compared to $146.0 million, comprised of $134.3 million home purchases and $11.7 million refinancings, for the same period in 2024. Mortgage loan originations for the mortgage banking segment were $327.3 million for the first six months of 2025, comprised of $298.9 million home purchases and $28.4 million refinancings, compared to $240.4 million, comprised of $221.1 million home purchases and $19.3 million refinancings, for the same period in 2024. Mortgage loan originations in the second quarter of 2025 increased $99.8 million compared to the first quarter of 2025 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

During the second quarter and first six months of 2025, the mortgage banking segment recorded a reversal of provision for indemnification losses of $35,000 and $60,000, respectively, compared to a reversal of provision for indemnification losses of $135,000 and $275,000 in the same periods of 2024. The allowance for indemnifications was $1.29 million and $1.35 million at June 30, 2025 and December 31, 2024, respectively. The release of indemnification reserves in 2025 and 2024 was due primarily to lower volume of mortgage loan originations in recent years, improvement in the mortgage banking segment’s assessment of borrower payment performance and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. The releases in 2025 decreased compared to the same periods in 2024 due primarily to the increased mortgage loan originations in 2025 compared to 2024. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

Consumer Finance Segment. The consumer finance segment reported net income of $539,000 and $765,000 for the second quarter and first six months of 2025, compared to $894,000 and $831,000 for the same periods in 2024, due primarily to:

higher provision for credit losses due primarily to higher net charge-offs; and
lower interest income resulting from lower average balances of loans, partially offset by higher loan yields;

partially offset by:

lower interest expense allocation on borrowings from the community banking segment as a result of lower average balances of borrowings; and
lower salaries and employee benefits expense due to an effort to reduce overhead costs.

Average loans decreased $14.1 million, or 2.9 percent, for the second quarter of 2025 and decreased $11.2 million, or 2.4 percent, for the first six months of 2025, respectively, compared to the same periods in 2024. The consumer finance segment experienced net charge-offs at an annualized rate of 2.42 percent of average total loans for the first six months of 2025, compared to 2.21 percent for the first six months of 2024, due primarily to an increase in delinquent loans, repossessions and the average amount charged-off when a loan was uncollectable. At June 30, 2025, total delinquent loans as a percentage of total loans was 3.81 percent, compared to 3.90 percent at December 31, 2024, and 3.51 percent at June 30, 2024.

The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. Average amounts of payment deferrals of automobile loans on a monthly basis, which are not included in delinquent loans, were 1.73 percent and 1.74 percent of average automobile loans outstanding during the second quarter and first six months of 2025, respectively, compared to 1.58 percent and 1.60 percent during the same periods during 2024. The allowance for credit losses was $22.4 million at June 30, 2025 and $22.7 million at December 31, 2024. The allowance for credit losses as a percentage of total loans was 4.85 percent at June 30, 2025 compared to 4.86 percent at December 31, 2024. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of June 30, 2025, the Corporation’s uninsured deposits were approximately $677.7 million, or 30.0 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $536.1 million, or 23.8 percent of total deposits as of June 30, 2025. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $373.7 million and borrowing availability was $576.4 million as of June 30, 2025, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $414.0 million as of June 30, 2025.

In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home Loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings increased to $146.1 million at June 30, 2025 from $122.6 million at December 31, 2024 due primarily to an increase in the Corporation’s subordinated debt, increased borrowings from the FHLB and fluctuations in balances of repurchase agreements with commercial deposit customers.

Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities, the issuance of brokered certificates of deposit and the capacity to borrow additional funds.

Capital and Dividends. During the second quarter of 2025, the Corporation declared a quarterly cash dividend of 46 cents per share. This dividend, which was paid to shareholders on July 1, 2025, represents a payout ratio of 19.4 percent of earnings per share for the second quarter of 2025. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital levels and requirements, and expected future earnings.

Total consolidated equity increased $13.9 million at June 30, 2025, compared to December 31, 2024, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of increased market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest. Unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale, net of deferred income taxes, decreased to $19.9 million at June 30, 2025 compared to $23.7 million at December 31, 2024 due primarily to fluctuations in debt security market interest rates and a decrease in the balance of securities available for sale in an unrealized loss position as a result of maturities, calls and paydowns.

As of June 30, 2025, the most recent notification from the FDIC categorized C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at June 30, 2025, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at June 30, 2025. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses become realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

The Corporation has a share repurchase program that was authorized by the Board of Directors to repurchase up to $5.0 million of the Corporation’s common stock, effective January 1, 2025 through December 31, 2025 (the 2025 Repurchase Program). During the second quarter of 2025, the Corporation did not make any repurchases of its common stock under the 2025 Repurchase Program.

About C&F Financial Corporation. The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $69.18 per share on July 23, 2025. At June 30, 2025, the book value per share of the Corporation was $74.21 and the tangible book value per share was $66.12. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

C&F Bank operates 31 banking offices and five commercial loan offices located throughout Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These may include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE. Interest on tax-exempt loans and securities is presented on a taxable-equivalent basis (which converts the income on loans and investments for which no income taxes are paid to the equivalent yield as if income taxes were paid) using the federal corporate income tax rate of 21 percent that was applicable for all periods presented.

Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to, or more important than, GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, fluctuations in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
general business conditions, as well as conditions within the financial markets
general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, changes in trade policy and the implementation of tariffs, war and other military conflicts or other major events, or the prospect of these events
average loan and securities yields and average costs of interest-bearing deposits and borrowings
financial services industry conditions, including bank failures or concerns involving liquidity
labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
the legislative and regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
demand for financial services in the Corporation’s market areas
the value of securities held in the Corporation’s investment portfolios
the quality or composition of the loan portfolios and the value of the collateral securing those loans
the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
the level of net charge-offs on loans and the adequacy of our allowance for credit losses
the level of indemnification losses related to mortgage loans sold
demand for loan products
deposit flows
the strength of the Corporation’s counterparties
the availability of lines of credit from the FHLB and other counterparties
the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
competition from both banks and non-banks, including competition in the automobile finance and marine and recreational vehicle finance markets
services provided by, or the level of the Corporation’s reliance upon third parties for key services
the commercial and residential real estate markets, including changes in property values
the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
the Corporation’s technology initiatives and other strategic initiatives
the Corporation’s branch expansion, relocation and consolidation plans
cyber threats, attacks or events
C&F Bank’s product offerings
accounting principles, policies and guidelines, and elections made by the Corporation thereunder.

These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.


C&F Financial CorporationSelected Financial Information (dollars in thousands, except for per share data) (unaudited)

Financial Condition	6/30/2025		12/31/2024		6/30/2024
Interest-bearing deposits in other banks	$	62,289	$	49,423	$	28,433
Investment securities – available for sale, at fair value		434,506		418,625		404,758
Loans held for sale, at fair value		44,757		20,112		33,716
Loans, net:
Community Banking segment		1,513,082		1,436,226		1,369,912
Consumer Finance segment		439,005		444,085		454,921
Total assets		2,686,392		2,563,374		2,492,100
Deposits		2,256,314		2,170,860		2,106,062
Repurchase agreements		20,642		28,994		25,047
Other borrowings		125,493		93,615		93,753
Total equity		240,916		226,970		219,099


	For The					For The
	Quarter Ended					Six Months Ended
Results of Operations	6/30/2025			6/30/2024		6/30/2025			6/30/2024
Interest income	$	37,407		$	34,312	$	73,395		$	67,020
Interest expense		10,899			10,484		21,877			20,034
Provision for credit losses:
Community Banking segment		(300	)		450		(200	)		950
Consumer Finance segment		2,400			2,100		5,300			5,100
Noninterest income:
Gains on sales of loans		2,458			1,701		4,305			2,989
Other		7,390			5,623		13,116			11,827
Noninterest expenses:
Salaries and employee benefits		14,846			13,452		28,329			27,704
Other		9,784			8,921		19,360			17,819
Income tax expense		1,859			1,195		2,988			1,760
Net income		7,767			5,034		13,162			8,469

Fully-taxable equivalent (FTE) amounts¹
Interest income on loans-FTE		33,768			31,460		66,196			61,096
Interest income on securities-FTE		3,530			2,977		6,876			6,075
Total interest income-FTE		37,711			34,600		73,987			67,593
Net interest income-FTE		26,812			24,116		52,110			47,559

________________________
¹For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


	For the Quarter Ended
	6/30/2025							6/30/2024
	Average			Income/		Yield/		Average			Income/		Yield/
Yield Analysis	Balance			Expense		Rate		Balance			Expense		Rate
Assets
Loans:
Community banking segment	$	1,499,272		$	20,893	5.59	%	$	1,359,703		$	18,543	5.48	%
Mortgage banking segment		45,948			731	6.38			34,240			533	6.26
Consumer finance segment		464,193			12,144	10.49			478,296			12,384	10.41
Total loans		2,009,413			33,768	6.74			1,872,239			31,460	6.76
Securities:
Taxable		342,023			2,325	2.72			337,050			1,857	2.20
Tax-exempt		120,281			1,205	4.01			119,626			1,120	3.75
Total securities		462,304			3,530	3.05			456,676			2,977	2.61
Interest-bearing deposits in other banks		48,237			413	3.43			23,239			163	2.82
Total earning assets		2,519,954			37,711	6.00			2,352,154			34,600	5.91
Allowance for credit losses		(41,284	)						(40,837	)
Total non-earning assets		157,307							153,002
Total assets	$	2,635,977						$	2,464,319

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	312,905			476	0.61		$	321,070			476	0.60
Savings and money market deposit accounts		522,453			1,530	1.17			474,613			1,074	0.91
Certificates of deposit		830,425			7,547	3.65			751,973			7,700	4.12
Total interest-bearing deposits		1,665,783			9,553	2.30			1,547,656			9,250	2.40
Borrowings:
Repurchase agreements		23,920			85	1.43			25,113			97	1.55
Other borrowings		99,162			1,261	5.09			100,633			1,137	4.52
Total borrowings		123,082			1,346	4.38			125,746			1,234	3.93
Total interest-bearing liabilities		1,788,865			10,899	2.44			1,673,402			10,484	2.52
Noninterest-bearing demand deposits		568,372							529,608
Other liabilities		40,917							45,023
Total liabilities		2,398,154							2,248,033
Equity		237,823							216,286
Total liabilities and equity	$	2,635,977						$	2,464,319
Net interest income				$	26,812						$	24,116
Interest rate spread						3.56	%						3.39	%
Interest expense to average earning assets						1.73	%						1.79	%
Net interest margin						4.27	%						4.12	%


	For the Six Months Ended
	6/30/2025							6/30/2024
	Average			Income/		Yield/		Average			Income/		Yield/
Yield Analysis	Balance			Expense		Rate		Balance			Expense		Rate
Assets
Loans:
Community banking segment	$	1,483,501		$	40,858	5.55	%	$	1,330,981		$	35,874	5.42	%
Mortgage banking segment		33,527			1,071	6.44			25,970			814	6.30
Consumer finance segment		464,856			24,267	10.53			476,072			24,408	10.31
Total loans		1,981,884			66,196	6.74			1,833,023			61,096	6.70
Securities:
Taxable		340,744			4,518	2.65			351,146			3,837	2.19
Tax-exempt		119,661			2,358	3.94			120,274			2,238	3.72
Total securities		460,405			6,876	2.99			471,420			6,075	2.58
Interest-bearing deposits in other banks		52,012			915	3.55			25,828			422	3.29
Total earning assets		2,494,301			73,987	5.98			2,330,271			67,593	5.83
Allowance for credit losses		(40,947	)						(40,565	)
Total non-earning assets		155,937							154,902
Total assets	$	2,609,291						$	2,444,608

Liabilities and Equity
Interest-bearing deposits:
Interest-bearing demand deposits	$	322,569			1,076	0.67		$	328,320			1,029	0.63
Savings and money market deposit accounts		505,926			2,735	1.09			479,629			2,135	0.90
Certificates of deposit		826,211			15,511	3.79			728,570			14,616	4.03
Total interest-bearing deposits		1,654,706			19,322	2.35			1,536,519			17,780	2.33
Borrowings:
Repurchase agreements		26,044			198	1.53			26,555			208	1.57
Other borrowings		96,394			2,357	4.89			89,539			2,046	4.57
Total borrowings		122,438			2,555	4.18			116,094			2,254	3.88
Total interest-bearing liabilities		1,777,144			21,877	2.48			1,652,613			20,034	2.44
Noninterest-bearing demand deposits		556,923							530,747
Other liabilities		40,896							44,573
Total liabilities		2,374,963							2,227,933
Equity		234,328							216,675
Total liabilities and equity	$	2,609,291						$	2,444,608
Net interest income				$	52,110						$	47,559
Interest rate spread						3.50	%						3.39	%
Interest expense to average earning assets						1.77	%						1.73	%
Net interest margin						4.21	%						4.10	%


	6/30/2025
Funding Sources	Capacity		Outstanding		Available
Unsecured federal funds agreements	$	75,000	$	—	$	75,000
Borrowings from FHLB		267,278		52,000		215,278
Borrowings from Federal Reserve Bank		286,137		—		286,137
Total	$	628,415	$	52,000	$	576,415


Asset Quality	6/30/2025			12/31/2024
Community Banking
Total loans	$	1,530,275		$	1,453,605
Nonaccrual loans	$	1,075		$	333

Allowance for credit losses (ACL)	$	17,193		$	17,379
Nonaccrual loans to total loans		0.07	%		0.02	%
ACL to total loans		1.12	%		1.20	%
ACL to nonaccrual loans		1,599.35	%		5,218.92	%
Annualized year-to-date net charge-offs to average loans		0.01	%		0.01	%

Consumer Finance
Total loans	$	461,390		$	466,793
Nonaccrual loans	$	697		$	614
Repossessed assets	$	925		$	779
ACL	$	22,385		$	22,708
Nonaccrual loans to total loans		0.15	%		0.13	%
ACL to total loans		4.85	%		4.86	%
ACL to nonaccrual loans		3,211.62	%		3,698.37	%
Annualized year-to-date net charge-offs to average loans		2.42	%		2.62	%


	For The								For The
	Quarter Ended								Six Months Ended
Other Performance Data	6/30/2025				6/30/2024				6/30/2025				6/30/2024
Net Income (Loss):
Community Banking	$	7,116			$	4,571			$	12,561			$	8,583
Mortgage Banking		985				376				1,416				670
Consumer Finance		539				894				765				831
Other¹		(873	)			(807	)			(1,580	)			(1,615	)
Total	$	7,767			$	5,034			$	13,162			$	8,469

Net income attributable to C&F Financial Corporation	$	7,691			$	5,007			$	13,059			$	8,408

Earnings per share – basic and diluted	$	2.37			$	1.50			$	4.03			$	2.50
Weighted average shares outstanding – basic and diluted		3,238,765				3,343,192				3,236,849				3,357,063

Annualized return on average assets		1.18		%		0.82		%		1.01		%		0.69		%
Annualized return on average equity		13.06		%		9.31		%		11.23		%		7.82		%
Annualized return on average tangible common equity²		14.70		%		10.72		%		12.72		%		9.01		%
Dividends declared per share	$	0.46			$	0.44			$	0.92			$	0.88

Mortgage loan originations – Mortgage Banking	$	213,523			$	146,010			$	327,273			$	240,356
Mortgage loans sold – Mortgage Banking		196,878				135,227				303,309				221,306

________________________
¹ Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
² For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”


Market Ratios	6/30/2025		12/31/2024
Market value per share	$	61.73	$	71.25
Book value per share	$	74.21	$	70.00
Price to book value ratio		0.83		1.02
Tangible book value per share¹	$	66.12	$	61.86
Price to tangible book value ratio¹		0.93		1.15
Price to earnings ratio (ttm)		8.17		11.86

________________________
¹ For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”



							Minimum Capital
Capital Ratios	6/30/2025			12/31/2024			Requirements³
C&F Financial Corporation¹
Total risk-based capital ratio		15.0	%		14.1	%		8.0	%
Tier 1 risk-based capital ratio		12.0	%		11.9	%		6.0	%
Common equity tier 1 capital ratio		10.8	%		10.7	%		4.5	%
Tier 1 leverage ratio		10.0	%		9.8	%		4.0	%

C&F Bank²
Total risk-based capital ratio		14.8	%		13.5	%		8.0	%
Tier 1 risk-based capital ratio		13.6	%		12.3	%		6.0	%
Common equity tier 1 capital ratio		13.6	%		12.3	%		4.5	%
Tier 1 leverage ratio		11.3	%		10.1	%		4.0	%

________________________
¹   The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
²   All ratios at June 30, 2025 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2024 are presented as filed.
³   The ratios presented for minimum capital requirements are those to be considered adequately capitalized.


	For The Quarter Ended								For The Six Months Ended
	6/30/2025				6/30/2024				6/30/2025				6/30/2024
Reconciliation of Certain Non-GAAP Financial Measures
Return on Average Tangible Common Equity
Average total equity, as reported	$	237,823			$	216,286			$	234,328			$	216,675
Average goodwill		(25,191	)			(25,191	)			(25,191	)			(25,191	)
Average other intangible assets		(1,045	)			(1,301	)			(1,081	)			(1,333	)
Average noncontrolling interest		(652	)			(602	)			(696	)			(656	)
Average tangible common equity	$	210,935			$	189,192			$	207,360			$	189,495

Net income	$	7,767			$	5,034			$	13,162			$	8,469
Amortization of intangibles		63				65				125				130
Net income attributable to noncontrolling interest		(76	)			(27	)			(103	)			(61	)
Net tangible income attributable to C&F Financial Corporation	$	7,754			$	5,072			$	13,184			$	8,538

Annualized return on average equity, as reported		13.06		%		9.31		%		11.23		%		7.82		%
Annualized return on average tangible common equity		14.70		%		10.72		%		12.72		%		9.01		%


	For The Quarter Ended				For The Six Months Ended
	6/30/2025		6/30/2024		6/30/2025		6/30/2024
Fully Taxable Equivalent Net Interest Income¹
Interest income on loans	$	33,716	$	31,407	$	66,098	$	60,993
FTE adjustment		52		53		98		103
FTE interest income on loans	$	33,768	$	31,460	$	66,196	$	61,096

Interest income on securities	$	3,278	$	2,742	$	6,382	$	5,605
FTE adjustment		252		235		494		470
FTE interest income on securities	$	3,530	$	2,977	$	6,876	$	6,075

Total interest income	$	37,407	$	34,312	$	73,395	$	67,020
FTE adjustment		304		288		592		573
FTE interest income	$	37,711	$	34,600	$	73,987	$	67,593

Net interest income	$	26,508	$	23,828	$	51,518	$	46,986
FTE adjustment		304		288		592		573
FTE net interest income	$	26,812	$	24,116	$	52,110	$	47,559

____________________
¹ Assuming a tax rate of 21%.


	6/30/2025			12/31/2024
Tangible Book Value Per Share
Equity attributable to C&F Financial Corporation	$	240,313		$	226,360
Goodwill		(25,191	)		(25,191	)
Other intangible assets		(1,022	)		(1,147	)
Tangible equity attributable to C&F Financial Corporation	$	214,100		$	200,022

Shares outstanding		3,238,085			3,233,672

Book value per share	$	74.21		$	70.00
Tangible book value per share	$	66.12		$	61.86



Contact:	Jason Long, CFO and Secretary
	(804) 843-2360

The MIL Network –

July 25, 2025

MIL-OSI: Clear Street Launches Specialty Finance Franchise with the Addition of Mickey Schleien

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Clear Street, (“Clear Street”, “the Company”) a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, today announced the appointment of Mickey Schleien, CFA, as Managing Director and Senior Analyst, leading equity research coverage of Business Development Companies (BDCs) and Collateralized Loan Obligation (CLO) closed-end funds. He will report to Director of Research Mara Goldstein.

Mr. Schleien brings three decades of capital markets experience to Clear Street, with deep expertise in BDCs and CLOs. He joins the firm from Ladenburg Thalmann & Co., where he spent more than 18 years producing comprehensive research coverage across the BDC and CLO fund sectors. Prior to that, Mr. Schleien held senior research positions at several prestigious financial institutions, including Lehman Brothers, UBS, James Capel (HSBC) and Morgan Stanley.

Mara Goldstein, Director of Research at Clear Street, said, “We are delighted to welcome Mickey to our equity research team, where his extensive experience and deep understanding of BDCs and CLO funds will be invaluable. Mickey’s long-standing tenure in the space, along with his well-established relationships and sharp investment analysis, enhances our ability to serve clients—particularly as this sector plays a vital role in funding the growth of small- and medium-sized businesses. His appointment underscores our commitment to delivering exceptional research and insights across key market segments.”

“I’m thrilled to join Clear Street at this exciting time in the firm’s growth,” said Mr. Schleien. “The combination of Clear Street’s innovative technology platform and commitment to excellence in equity research creates a unique opportunity to deliver exceptional value to clients. I look forward to leveraging my BDC and CLO experience, as well as my relationships with institutional investors, management teams, regulators and sector organizations to contribute to the firm’s continued success.”

Mr. Schleien holds an MBA from Loyola Marymount University and a Bachelor of Science degree in Chemistry from UCLA. He is also a CFA charter holder.

Media Contact:

Ashley DeSimone

Chief Marketing Officer, Clear Street, adesimone@clearstreet.io

About Clear Street:

Clear Street is modernizing the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.

The MIL Network –

July 25, 2025

MIL-OSI: Clear Street Launches Specialty Finance Franchise with the Addition of Mickey Schleien

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Clear Street, (“Clear Street”, “the Company”) a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, today announced the appointment of Mickey Schleien, CFA, as Managing Director and Senior Analyst, leading equity research coverage of Business Development Companies (BDCs) and Collateralized Loan Obligation (CLO) closed-end funds. He will report to Director of Research Mara Goldstein.

Mr. Schleien brings three decades of capital markets experience to Clear Street, with deep expertise in BDCs and CLOs. He joins the firm from Ladenburg Thalmann & Co., where he spent more than 18 years producing comprehensive research coverage across the BDC and CLO fund sectors. Prior to that, Mr. Schleien held senior research positions at several prestigious financial institutions, including Lehman Brothers, UBS, James Capel (HSBC) and Morgan Stanley.

Mara Goldstein, Director of Research at Clear Street, said, “We are delighted to welcome Mickey to our equity research team, where his extensive experience and deep understanding of BDCs and CLO funds will be invaluable. Mickey’s long-standing tenure in the space, along with his well-established relationships and sharp investment analysis, enhances our ability to serve clients—particularly as this sector plays a vital role in funding the growth of small- and medium-sized businesses. His appointment underscores our commitment to delivering exceptional research and insights across key market segments.”

“I’m thrilled to join Clear Street at this exciting time in the firm’s growth,” said Mr. Schleien. “The combination of Clear Street’s innovative technology platform and commitment to excellence in equity research creates a unique opportunity to deliver exceptional value to clients. I look forward to leveraging my BDC and CLO experience, as well as my relationships with institutional investors, management teams, regulators and sector organizations to contribute to the firm’s continued success.”

Mr. Schleien holds an MBA from Loyola Marymount University and a Bachelor of Science degree in Chemistry from UCLA. He is also a CFA charter holder.

Media Contact:

Ashley DeSimone

Chief Marketing Officer, Clear Street, adesimone@clearstreet.io

About Clear Street:

Clear Street is modernizing the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.

The MIL Network –

July 25, 2025

MIL-OSI: Walrus and Veea Inc. Announce Strategic Partnership to Unlock High-Performance Edge Utility for Decentralized Data Storage

Source: GlobeNewswire (MIL-OSI)

PALO ALTO, Calif. and NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Walrus, the decentralized data storage protocol built by Mysten Labs, the original contributors to Sui, and Veea Inc. (Nasdaq:VEEA), a leader in intelligent edge infrastructure, today announced the adoption of Walrus as a VeeaHub STAX™ edge solution to provide high-performance data transport and storage capabilities for the decentralized network. The bundled solution is aimed at creating a highly secure, scalable, and low-latency data environment for Walrus’ decentralized storage solution, allowing the network to handle even the most data-intensive tasks for DApps and AI development.

VeeaHub STAX is a highly integrated computing and connectivity platform that leverages Non-Volatile Memory Express (NVMe) architecture, designed to support various edge computing tasks over heterogeneous networks for decentralized applications. VeeaHub STAX, while powering a connectivity and computing mesh network with Walrus operating on its multi-Gbps NVMe clusters, ensures that data is reliably stored, instantly available, and secure.

“Veea’s edge infrastructure paired with Walrus’s programmable, decentralized storage offers new capabilities for developers building secure and scalable applications,” said Kostas Chalkias, Co-Founder & Chief Cryptographer of Mysten Labs. “Veea’s NVMe-powered nodes enable low-latency access to data stored on Walrus, increasing data availability for builders and empowering new use cases for edge AI and decentralized applications, including innovations like communications even in the absence of direct internet access.” Mr. Chalkias recently demonstrated internetless transactions, a direct result of the collaboration between Veea and Mysten Labs, where Sui nodes can send and receive transactions with no internet connection.

The integration will allow Walrus to scale seamlessly with thousands of STAX-NVMe storage nodes, maintaining the security and reliability of Walrus’ decentralized storage network while offering both costs and network speeds comparable to centralized data storage solutions of cloud services. Additional benefits from the integration include:

Access to tens of terabytes of storage for ultra-low latency, high-throughput, and decentralized applications over distributed hyperconverged networks with Edge AI.
Hybrid NVMe storage architecture designed for “hot content” delivery, unlocking applications for gaming, video streaming, and AI development.
Scalable, low-cost object storage to improve cost optimization for enterprise data.
Enhancements to both data availability and compliance, ensuring enterprises have access to scalable storage without compromising data sovereignty.
Improved data recovery capabilities, enabling enterprises to easily recover important files.

“We are thrilled to be working with Mysten Labs to deliver a pioneering solution that unlocks new capabilities, with genuine trust in a high-performance edge data platform, for a broad range of use cases, including ever more demanding edge AI solutions and Web3 applications,” said Allen Salmasi, Chairman and CEO of Veea Inc. “With Walrus having the ability to directly store and serve media on STAX-NVMe, such as images, sounds, sprites, videos, or game assets, developers can leverage the Walrus Decentralized Store now to readily build applications that run on a Decentralized Physical Infrastructure Network (DePIN) with Veea’s STAX-5G/NVMe or STAX-NVMe nodes.”

Developed by the original contributors to the leading smart contract platform and layer 1 blockchain Sui, Walrus builds on Mysten Labs’ extensive innovations in blockchain infrastructure. Walrus is the data layer for the decentralized internet, and delivers programmable, scalable, and cost-efficient storage designed for the needs of decentralized applications and AI systems.

To learn more about Walrus, please visit: https://www.walrus.xyz/.

About Mysten Labs

Mysten Labs is a team of leading technological experts in distributed systems, programming languages and cryptography. Founded by the former senior executives of Meta’s Novi Research and the lead architects of the Diem blockchain, Mysten Labs is creating foundational infrastructure to reimagine the decentralized internet. Mysten Labs is the original contributor to Sui, the only blockchain built for mass adoption, and the original contributor to Walrus, the decentralized storage platform that allows any application to publish, read, and program any data type. Users can learn more at mystenlabs.com.

About Veea

Veea Inc. (NASDAQ: VEEA) formed in 2014 and headquartered in New York City, is a leader in smart edge connectivity, computing and Edge AI for enterprise and public infrastructure. Its flagship VeeaHub™ STAX platform delivers intelligent edge networking, security, and scalable NVMe storage for the future of digital business and connected communities. Its VeeaONE™ platform enables unified edge computing, multiaccess multiprotocol communications, edge storage, edge AI with AI-driven cybersecurity in multi-tenant fully integrated all-in-one VeeaHub^® products. Similar to cloud-management of smartphones and similar user devices, VeeaHub products are cloud- and locally-managed with equivalent capabilities on VeeaCloud™. Applications and services delivered through VeeaHub devices benefit from cybersecure connections with Zero Trust Network Access (ZTNA), optionally, with a highly simplified, plug and play, 5G-based SecureConnect™ offering. Veea has received numerous recognitions by Gartner Group, Market Reports World’s and IoT Evolution for Edge Computing and Edge AI since 2021. For more information about Veea and its product offerings, visit veea.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company’s business strategies, and the risk and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Veea’s Form 10-K for the year ended December 31, 2024 and any subsequent filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

For media inquiries, please contact:

Walrus: press@walrus.xyz

Veea Inc.:

The Equity Group

Devin Sullivan
Managing Director
dsullivan@equityny.com

Conor Rodriguez
Associate
crodriguez@equityny.com

The MIL Network –

July 25, 2025

MIL-OSI: Mark Cuban Foundation and Who We Play For Bring Free AI Bootcamp to Melbourne Teens

Source: GlobeNewswire (MIL-OSI)

MELBOURNE, Fla., July 24, 2025 (GLOBE NEWSWIRE) — High school students in Melbourne have the chance to get hands-on experience with artificial intelligence through a free AI Bootcamp launched by the Mark Cuban Foundation, in partnership with Who We Play For and Groundswell Startups. Applications close September 30.

This event brings the only artificial intelligence (AI) camp of its kind, free of charge, to the Space Coast. With a custom and highly-relevant curriculum focused on teaching students about the latest developments in the world of AI and Generative AI, the camp will provide the tools to make these technologies work for them and promises to educate, inspire and fuel the next generation of AI professionals.

The program aims to provide students with a foundational understanding of artificial intelligence and its applications to future careers. Students can select from six tracks: healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. Driven by the belief that fostering interest in AI at a young age is crucial for preparing the next generation for their future, the AI Bootcamps are introductory and accessible to students in 9-12 grade with an interest in technology. Students do not need any familiarity with computer science or programming to attend.

This free AI Bootcamp is hosted for underserved high school students with a transparent focus on recruiting girls, students of color, first generation college students, and those from low to moderate income households. The AI Bootcamp Program provides students with lunch and a snack, transportation assistance, and technology equipment during bootcamp.

“As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” said Mark Cuban, founder. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with Who We Play For and Groundswell Startups, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

This year’s bootcamp, taking place in Melbourne on November 1st, 8th, and 15th is hosted and staffed by Groundswell Startups and Who We Play For, two organizations dedicated to fostering innovation, growth, and opportunity on the Space Coast.

Who We Play For, a nonprofit organization committed to preventing sudden cardiac death in young people by providing affordable and accessible heart screenings. Founded in memory of Rafe Maccarone, a local student-athlete who lost his life to sudden cardiac arrest in 2007, the organization works tirelessly to ensure that no family, team, or community has to experience a similar loss. Through partnerships with schools, sports clubs, and community organizations, Who We Play For brings non-invasive heart screenings to youth across the country while raising awareness about the importance of early detection and advocating for increased access to life-saving resources.

Groundswell Startups, founded in 2016, is a non-profit incubator and coworking space bringing concepts to life and accelerating scalability for businesses ranging from tech to manufacturing in Florida’s Space Coast and around the Southeast region.

“This partnership reflects what Groundswell was built to do,” said Groundswell Co-Founder Bud Deffebach. “Events like these empower the next generation of tech innovators to understand and utilize AI. We are proud to join with the Mark Cuban Foundation in providing this experience to local students.”

This partnership is one of more than 25 selected to host camps across the U.S. and the only event hosted in Florida.

“We are thrilled to partner with the Mark Cuban Foundation and Groundswell Startups to share insights on artificial intelligence and the importance of early exposure to emerging technologies. This partnership is a great opportunity to showcase how AI is driving meaningful impact in our work here at Who We Play For, and we are proud to bring the AI Bootcamp to our hometown,” said Who We Play For Technical Director, Klynton Holmes.

There are just 9 weeks left until the September 30 deadline. Do not miss your chance—submit your application now, as spaces are limited.

Apply for the bootcamp at: markcubanai.org.

Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

To learn more, visit markcubanai.org.

This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

About Mark Cuban Foundation’s AI Bootcamp Initiative
The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays underserved 9^th – 12^th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

About Who We Play For

WWPF represents every young person who lost their life to sudden cardiac arrest (SCA). Our fight is to ensure that other families, teams, and communities will never know that pain.

On our mission to eliminate preventable sudden cardiac death in the young through affordable heart screenings, WWPF has screened over 450,000 youth across more than 500 communities throughout the United States. As a result of WWPF’s screening program, more than 450 youth with life threatening heart conditions have received immediate, life-saving medical intervention and thousands more are now aware of cardiac abnormalities that may increase their risk for SCA later in life.

Alongside the world’s leaders in pediatric cardiology, our vision is to elevate the standard of care for ALL youth, no matter their level of athletics, socio-economic status or geographical location.

About Groundswell Startups

Groundswell, a nonprofit high-tech incubator in Florida’s Space Coast, serves as a hub that unites founders, mentors, investors, and trusted support services. Our mission is simple yet powerful: to envelop entrepreneurs in a supportive ecosystem abundant with resources. We pave the way for company building, industry disruption, and scalable growth. At Groundswell, we believe in empowering startups with the essential network and resources to thrive in the heart of the Space Coast’s innovation landscape. Learn more or find support for your startup idea at www.swellstartups.com.

The MIL Network –

July 25, 2025

MIL-OSI: New CAST Highlight update reveals ‘good’ v. ‘bad’ technical debt

Source: GlobeNewswire (MIL-OSI)

PARIS and NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Chief Information Officers confronting technical debt now have a new way to prioritize thousands of hours in IT development time, announced CAST, a leader in software mapping and intelligence technology. The company today released the latest version of CAST Highlight, which distinguishes between ‘good’ and ‘bad’ technical debt, helping teams prioritize remediation efforts across all custom applications.

“Each day CIOs face the same question: ‘Which 100 of my 1,000 applications should we focus on?’,” said Greg Rivera, Head of Product at CAST. “Now, within seconds, the answer is clear, ranked, and prioritized. In true CAST Highlight fashion, each issue also comes with data-driven recommendations and quantification of the effort required to resolve it.”

Key capabilities of the new “Portfolio Advisor for Technical Debt” feature include:

Prioritizing applications based on business criticality and issue severity
Categorizing debt types, such as low Software Health (e.g. issues with resiliency, agility, and complexity), outdated open-source components, and obsolete technology versions (e.g. Java, .NET)
Drilling down to the application level to understand specific issues and remediation needs

“Not all problems are created equally,” continued Rivera. “Many can wait with minimal business impact. The real challenge has been knowing what to prioritize. With this new intelligence in-hand, CIOs can get a centralized view of their technical debt, direct their teams with confidence, and update the board on progress. “

“Good” technical debt is defined as lower importance applications with minimal debt density. “Bad” technical debt arises from business-critical applications with high tech debt density in multiple areas. CAST Highlight generates these insights based on industry-standard best practices for code quality and up-to-date components.

Additional new capabilities in this release include:

Terraform Cloud Maturity Insights to speed cloud migration and modernization for applications with Terraform
Docker Cloud Maturity Insights to streamline cloud adoption for applications running Docker containers
Enhanced Custom Segmentation for more detailed Portfolio Advisor dashboards, with new segmentation options such as OSS component names, technical debt values, and technology versions

The release is available to all CAST Highlight customers.

About CAST
Businesses move faster using CAST technology to understand, improve, and transform their software. Through semantic analysis of source code, CAST produces 3D maps and dashboards to navigate inside individual applications and across entire portfolios. This intelligence empowers executives and technology leaders to steer, speed, and report on initiatives such as technical debt, GenAI, modernization, and cloud. As the pioneer of the software intelligence field, CAST is trusted by the world’s leading companies and governments, their consultancies and cloud providers. See it all at castsoftware.com.

The MIL Network –

July 25, 2025

MIL-OSI: New CAST Highlight update reveals ‘good’ v. ‘bad’ technical debt

Source: GlobeNewswire (MIL-OSI)

PARIS and NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Chief Information Officers confronting technical debt now have a new way to prioritize thousands of hours in IT development time, announced CAST, a leader in software mapping and intelligence technology. The company today released the latest version of CAST Highlight, which distinguishes between ‘good’ and ‘bad’ technical debt, helping teams prioritize remediation efforts across all custom applications.

“Each day CIOs face the same question: ‘Which 100 of my 1,000 applications should we focus on?’,” said Greg Rivera, Head of Product at CAST. “Now, within seconds, the answer is clear, ranked, and prioritized. In true CAST Highlight fashion, each issue also comes with data-driven recommendations and quantification of the effort required to resolve it.”

Key capabilities of the new “Portfolio Advisor for Technical Debt” feature include:

Prioritizing applications based on business criticality and issue severity
Categorizing debt types, such as low Software Health (e.g. issues with resiliency, agility, and complexity), outdated open-source components, and obsolete technology versions (e.g. Java, .NET)
Drilling down to the application level to understand specific issues and remediation needs

“Not all problems are created equally,” continued Rivera. “Many can wait with minimal business impact. The real challenge has been knowing what to prioritize. With this new intelligence in-hand, CIOs can get a centralized view of their technical debt, direct their teams with confidence, and update the board on progress. “

“Good” technical debt is defined as lower importance applications with minimal debt density. “Bad” technical debt arises from business-critical applications with high tech debt density in multiple areas. CAST Highlight generates these insights based on industry-standard best practices for code quality and up-to-date components.

Additional new capabilities in this release include:

Terraform Cloud Maturity Insights to speed cloud migration and modernization for applications with Terraform
Docker Cloud Maturity Insights to streamline cloud adoption for applications running Docker containers
Enhanced Custom Segmentation for more detailed Portfolio Advisor dashboards, with new segmentation options such as OSS component names, technical debt values, and technology versions

The release is available to all CAST Highlight customers.

About CAST
Businesses move faster using CAST technology to understand, improve, and transform their software. Through semantic analysis of source code, CAST produces 3D maps and dashboards to navigate inside individual applications and across entire portfolios. This intelligence empowers executives and technology leaders to steer, speed, and report on initiatives such as technical debt, GenAI, modernization, and cloud. As the pioneer of the software intelligence field, CAST is trusted by the world’s leading companies and governments, their consultancies and cloud providers. See it all at castsoftware.com.

The MIL Network –

July 25, 2025

MIL-OSI: Blockgraph Builds on OnDemand Platform Success with Launch of Collaborative Insights and Geo-Based Audiences

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) — Blockgraph, the privacy-first data collaboration platform for household-based advertising, today launched two powerful new features—Collaborative Insights and Geo-Based Audiences— designed to further fuel its transformation as an industry leading resource for data-driven local advertisers.

Following strong adoption of the Blockgraph OnDemand platform, which debuted in late 2024, these new capabilities are purpose-built to simplify targeting, planning and measurement across Blockgraph’s media partner ecosystem, making sophisticated advertising tools more accessible for advertisers of all sizes. Blockgraph OnDemand is on track for over 200% year-over-year growth with adoption spanning local ad categories including automotive dealerships, retail, political, education, local events marketing and home services.

“Local marketers are often underserved by enterprise-level solutions,” said Jason Manningham, CEO of Blockgraph. “With these new capabilities, we’re making it easier than ever for local advertisers to measure what matters and activate campaigns with precision—no data science team or complicated setup required.”

Collaborative Insights: Simplifying Measurement for Local Advertisers

Blockgraph’s Collaborative Insights is a turn-key, privacy-safe reporting solution that helps advertisers understand campaign impact in clear business metrics, like return on ad spend, sales lift and store visit lift. It allows local advertisers and media sellers to easily collaborate on campaign performance and sales data, unlocking fast, actionable insights tied to real business outcomes. Built with privacy-safe intelligence, Collaborative Insights drastically simplifies measurement data collaboration and reporting, without a need for expensive setup, custom technology or complex integrations.

Key benefits include:

Outcomes-Based Reporting – Instantly measure campaign outcomes with scalable, automated reporting
Smarter Planning – Collaborate with sellers to benchmark and refine local campaigns.
Speed to Insight – Consistent reporting and automation designed for local marketing teams.
Privacy-Safe By Design – Built-in protections facilitate sharing outcome insights without compromising data security.

“This levels the playing field for local advertisers” said Jason Manningham, CEO at Blockgraph. “Collaborative Insights offers plug-and-play access to always-on insights, helping smaller businesses move quicker and plan smarter so they can prove ROI.”

Collaborative Insights is also available to Blockgraph enterprise customers seeking to standardize, simplify and scale their reporting operations.

Geo-Based Audiences: Easier and Smarter Local Targeting

Geo-Based Audiences gives advertisers a simple way to reach real households in specific ZIP codes, cities, or custom regions using deterministic household-level data—without requiring their own CRM list or reliance on imprecise IP signals.

Marketers can define audiences by specific location and activate with confidence knowing the segments are built from verified data—not probabilistic guesswork.

Key Benefits:

No Set Up Required – Go live without uploading first-party data or configuring segments.
Verified Audiences – Built from household deterministic data—not proxies.
Flexible Geography – Build audiences by DMA, ZIP, or hyperlocal zones.
Confidence without Complexity– Avoid the inaccuracies and complexities of IP-based targeting.

“This is local targeting made simple,” Manningham added. “Marketers can finally activate with the precision of national tools—without the technical burden.”

Fueling the Future of Local Advertising

With these launches, Blockgraph OnDemand continues to deliver on its mission to make local advertising even easier and more effective–providing a one-stop solution to plan, activate, and measure campaigns with confidence–all backed by the same privacy-first infrastructure trusted by the nation’s largest media companies.

“At Comcast Advertising, we’re committed to driving innovation that delivers real business outcomes for our clients,” says Dawn Williamson, Chief Revenue Officer at Comcast Advertising. “As an early adopter of Blockgraph OnDemand, we’re proud to lead solutions that make advanced measurement and precision targeting more accessible to advertisers of all sizes. These capabilities not only elevate our ability to serve local businesses—they also reflect our broader mission to lead with data, insights, and impact.”

About Blockgraph

Blockgraph is a leading privacy-centric identity and data collaboration platform designed to fuel the future of connected TV advertising. By enabling secure, privacy-focused household identity resolution, the world’s leading media, technology, and information services companies rely on Blockgraph to collaborate with trusted partners—allowing brands and agencies to connect with audiences more effectively, maximizing reach and performance while protecting consumer privacy. Blockgraph is owned by Charter Communications Inc., Comcast NBCUniversal, and Paramount. For more information, visit www.blockgraph.co.

Contact:
Alexandra Levy
650-996-5758
alex@siliconalley-media.com

The MIL Network –

July 25, 2025

MIL-OSI: droppGroup Leads $5M Pre-Seed in D-GN: Betting Big on the Ethical Layer for AI

Source: GlobeNewswire (MIL-OSI)

Miami, Florida, July 24, 2025 (GLOBE NEWSWIRE) — – droppGroup, the US-based company behind sovereign-grade AI and blockchain solutions, alongside Saudi businessman Hamoud Al-Rumayyan and veteran crypto firm Hub Culture, has fully subscribed the $5 million pre-seed round of Data Guardians Network (D-GN) – a decentralized platform delivering the most accurate and ethically sourced training data in the AI market.

This investment strengthens droppGroup’s ethical AI infrastructure, already in deployment with Saudi Aramco, Cisco, and multiple government partners, while expanding a growing portfolio of critical technologies grounded in compliance, transparency, and human-centered design.

“Billions of dollars in lawsuits are hitting the AI industry because foundational models have been trained on stolen or unlicensed data,” said Faisal Al Monai, Chairman of droppGroup. “D-GN solves this industrial problem. It transforms global human input into an auditable, tokenized data engine that ethically trains, verifies and improves AI systems across voice, image and text. We took part of the round because we see this as a core pillar of the future AI stack for all our clients.”

“When we saw Meta purchase a stake in Scale AI for around $14-15 billion, investing in D‑GN at this stage looked like a steal. We believe D-GN is the Scale AI killer”. Said Faisal Al Monai, Chairman of droppGroup. “More importantly, D‑GN does it differently, upholding both ethical AI and ethical labor standards. No outsourcing to click‑farms, no gray IP zones – just transparent, auditable, fair data.”

Unlike Scale AI, which has faced criticism over opaque labor practices and the use of unlicensed content, D-GN builds datasets through a decentralized contributor model with on-chain traceability via Solan and stablecoin payments via Tether’s USDT, openly ensuring workers are paid fairly and AI models are trained responsibly.

“As Saudi Arabia transforms into a global hub for AI and innovation, our focus must remain on building infrastructure rooted in ethics, equity and opportunity”. Said Mr Hamoud Al-Rumayyan. “Data Guardians Network represents a new model, one where the people who power AI are finally included in its value creation. This is not just an investment, it’s a step toward a more inclusive digital economy aligned with the Saudi Vision 2030”. He concluded.

Johanna Cabildo, Founder and CEO of D-GN, commented:
“We built D-GN so that everyday people could have a stake in the future of AI, not just be the invisible labor behind it. droppGroup understands that vision deeply. This partnership gives us the fuel and the infrastructure to scale ethical data at a global level.”

With this investment, D-GN will scale contributor operations in MENA, Latin America and Southeast Asia, expand multimodal frontier datasets (voice, lip sync, human-emotion mapping) and deepen integrations with open-source and enterprise AI frameworks.

About droppGroup

droppGroup is a US-based AI and blockchain infrastructure company building the secure, sovereign systems of tomorrow. The parent company behind droppOne, it supports highly sensitive deployments across governments and Fortune 500s.

www.droppgroup.xyz

About Data Guardians Network (D-GN)

D-GN is a decentralized platform that turns global human input into ethically sourced training data for AI. Through stablecoin rewards, blockchain transparency and decentralized governance, D-GN enables enterprises and model developers to build AI systems that are fair, traceable and regulation-ready.

www.dataguardians.network

Media Contact:Dominic dominic.c@lunaPR.io

The MIL Network –

July 25, 2025

MIL-OSI: ACNB Corporation Reports 2025 Second Quarter Financial Results

Source: GlobeNewswire (MIL-OSI)

GETTYSBURG, Pa., July 24, 2025 (GLOBE NEWSWIRE) — ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $11.6 million, or $1.11 diluted earnings per share, for the three months ended June 30, 2025 compared to net income of $11.3 million, or $1.32 diluted earnings per share, for the three months ended June 30, 2024 and compared to net loss of $272 thousand, or $0.03 diluted loss per share, for the three months ended March 31, 2025. Financial results for the three months ended March 31, 2025 were impacted by two discrete items that were related to the acquisition of Traditions Bancorp, Inc. (“Traditions”) (“Acquisition”): a provision for credit losses on non-purchase credit deteriorated (“PCD”) loans of $4.2 million, net of taxes, and merger-related expenses, net of taxes, totaling $6.2 million.

2025 Second Quarter Highlights

Fully taxable equivalent (“FTE”) net interest margin was 4.21% for the three months ended June 30, 2025 compared to 4.07% for the three months ended March 31, 2025 and 3.82% for the three months ended June 30, 2024.
Return on average assets was 1.43% and return on average equity was 11.96% for the three months ended June 30, 2025.
Total loans were $2.34 billion at June 30, 2025, an increase of $19.6 million, or 0.8%, from March 31, 2025, or 3.4% on an annualized basis.
Tangible common equity to tangible assets ratio¹ of 9.65% at June 30, 2025 compared to 9.33% at March 31, 2025 and 9.84% at June 30, 2024. The net unrealized loss on the available for sale securities portfolio was $36.2 million at June 30, 2025 compared to a net unrealized loss of $39.7 million at March 31, 2025 and a net unrealized loss of $52.7 million at June 30, 2024.
As announced on Form 8-K on July 23, 2025, the Board of Directors approved and declared a regular quarterly cash dividend of $0.34 per share of ACNB Corporation common stock for the second quarter, reflecting a $0.02, or 6.3%, increase over the same period of 2024.
ACNB repurchased 71,592 shares of ACNB common stock in open market transactions during the three months ended June 30, 2025. On June 18, 2025, the Corporation announced that the Board of Directors approved a plan to repurchase, in open market transactions at prevailing market prices, up to 314,000 shares or approximately 3.0%, of the outstanding shares of ACNB’s common stock.

“We are pleased to share strong results for the second quarter of 2025 which reflect our first full quarter of combined operations including Traditions Bank, a division of ACNB Bank. After completing the acquisition in early February of this year, we are excited to share that we have successfully completed our system conversion enabling all ACNB Bank customers to bank at any convenient location,” said James P. Helt, ACNB Corporation President and Chief Executive Officer.

“Our financial results reflect our continued commitment to our community banking business model and to generating long term shareholder value. The quarter was represented by strong profitability, an increase in quarter over quarter net loan growth, stable asset quality and an active capital management strategy supported by a $0.34 second quarter dividend payment and continued open market share repurchases.”

Mr. Helt continued, “As we look to the remainder of the year, we are focused on managing through the uncertain national economic challenges by continuing to diversify our revenue streams with ACNB Insurance Services, our Wealth Management teams and Traditions Mortgage. We are optimistic that our strong capital position, ample liquidity, superior asset quality metrics and our focus on profitability will enable us to deliver on our commitment to our many different stakeholders.”

ACNB’s financial results for any periods ended prior to February 1, 2025 reflect ACNB on a standalone basis. As a result, ACNB’s financial results for the three months ended June 30, 2025 may not be directly comparable to prior reported periods.

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.

Net Interest Income and Margin

Net interest income for the three months ended June 30, 2025 totaled $31.0 million, an increase of $10.0 million from the three months ended June 30, 2024 and an increase of $3.9 million from the three months ended March 31, 2025. The increases were driven primarily by the Acquisition. The FTE net interest margin for the three months ended June 30, 2025 was 4.21%, a 39 basis points increase from the three months ended June 30, 2024 and a 14 basis points increase from the three months ended March 31, 2025. The accretion impact of acquisition accounting adjustments on loans and deposits from the Acquisition was $2.2 million and $1.5 million for the three months ended June 30, 2025 and the three months ended March 31, 2025, respectively. The following discussion of increases in average balances and yields compared to the previous periods were driven primarily by the Acquisition. For the three months ended June 30, 2025, total average loans increased $678.7 million and $217.1 million compared to the three months ended June 30, 2024 and the three months ended March 31, 2025, respectively. The yield on total loans was 6.29% for the three months ended June 30, 2025, an increase of 76 basis points compared to the three months ended June 30, 2024 and an increase of 21 basis points from the three months ended March 31, 2025. For the three months ended June 30, 2025, total average interest- bearing deposits increased $613.8 million from the three months ended June 30, 2024 and increased $203.0 million from the three months ended March 31, 2025. The average rate paid on interest-bearing deposits was 1.49% for the three months ended June 30, 2025, an increase of 70 basis points from the three months ended June 30, 2024 and an increase of 11 basis points from the three months ended March 31, 2025. For the three months ended June 30, 2025, total average noninterest-bearing demand deposits increased $78.0 million from the three months ended June 30, 2024 and increased $50.4 million from the three months ended March 31, 2025.

Noninterest Income

Noninterest income for the three months ended June 30, 2025 was $8.7 million, an increase of $2.3 million from the three months ended June 30, 2024 and an increase of $1.5 million from the three months ended March 31, 2025. Gain from mortgage loans held for sale for the three months ended June 30, 2025 was $1.6 million, an increase of $1.5 million from the three months ended June 30, 2024 and an increase of $720 thousand from the three months ended March 31, 2025. Insurance commissions for the three months ended June 30, 2025 were $2.9 million, an increase of $161 thousand from the three months ended June 30, 2024 driven primarily by timing of policy renewals and new business and an increase of $761 thousand from the three months ended March 31, 2025 driven primarily by seasonally stronger policy renewals and an increase in contingent commission income during the three months ended June 30, 2025 for contingent commissions earned in 2024. Service charges on deposits were $1.2 million, an increase of $158 thousand from the three months ended June 30, 2024 and an increase of $85 thousand from the three months ended March 31, 2025 driven primarily by the Acquisition.

Noninterest Expense

Noninterest expense for the three months ended June 30, 2025 increased $9.0 million from the three months ended June 30, 2024 and decreased $4.0 million from the three months ended March 31, 2025. Merger-related expenses totaled $1.9 million for the three months ended June 30, 2025 compared to $23 thousand for the three months ended June 30, 2024 and $8.0 million for the three months ended March 31, 2025. Salaries and employee benefits expense increased $3.3 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $832 thousand compared to three months ended March 31, 2025 driven primarily by an increased number of employees attributable to the Acquisition, merit increases and higher mortgage commissions. Net occupancy increased $286 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 driven primarily by the Acquisition and decreased $165 thousand compared to the three months ended March 31, 2025 driven primarily by lower snow removal costs. Equipment expense increased $969 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $259 thousand compared to the three months ended March 31, 2025 driven primarily by the Acquisition and the implementation of new additional products into our core processing system. Other tax decreased $136 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and decreased $307 thousand compared to the three months ended March 31, 2025 driven primarily by earned income tax credits recognized in the period. Intangible assets amortization increased $826 thousand during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $284 thousand compared to the three months ended March 31, 2025 driven by the Acquisition. Other increased $1.5 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $1.0 million compared to the three months ended March 31, 2025 driven primarily by the Acquisition, earned income tax related donations, and higher internet banking services.

Loans and Asset Quality

Total loans outstanding were $2.34 billion at June 30, 2025, an increase of $19.6 million from March 31, 2025 and an increase of $662.2 million from June 30, 2024. The growth from March 31, 2025 was spread across real estate construction, commercial and industrial, home equity lines of credit and residential mortgage. The increase compared to June 30, 2024 was spread across all loan categories and was driven primarily by the Acquisition. The allowance for credit losses was $24.4 million at June 30, 2025, a decrease of $293 thousand compared to March 31, 2025 and an increase of $7.2 million compared to June 30, 2024. The decrease compared to March 31, 2025 was driven primarily by the incorporation of post-COVID lower credit loss history in the bank’s allowance for credit losses model. The increase compared to June 30, 2024 was driven primarily by the Acquisition. The allowance for unfunded commitments was $1.5 million at June 30, 2025, a decrease of $354 thousand compared to March 31, 2025 and an increase of $219 thousand compared to June 30, 2024. The decrease compared to March 31, 2025 was driven primarily by the incorporation of post-COVID lower credit loss history in the bank’s allowance for unfunded commitments model and lower commitments. The increase compared to June 30, 2024 was driven primarily by the Acquisition.

Non-performing loans were $10.1 million, or 0.43%, of total loans, net of unearned income, at June 30, 2025 compared to $10.0 million, or 0.43%, of total loans at March 31, 2025 and $3.1 million, or 0.19%, of total loans at June 30, 2024. The increase in non-performing loans at June 30, 2025 compared to June 30, 2024 was driven primarily by one long-standing commercial relationship in the healthcare industry, comprised of both owner-occupied commercial real estate and commercial and industrial loans, that moved into non-performing loan status during 2024 and by the Acquisition. Annualized net charge-offs for the three months ended June 30, 2025 were 0.01% of total average loans compared to 0.01% for the three months ended March 31, 2025 and 0.00% for the three months ended June 30, 2024.

Deposits and Borrowings

Deposits totaled $2.52 billion at June 30, 2025, a decrease of $15.5 million from March 31, 2025 and an increase of $686.0 million from June 30, 2024. Included in total deposits at June 30, 2025 were $568.3 million of noninterest-bearing deposits, which increased $5.6 million and $88.6 million from March 31, 2025 and June 30, 2024, respectively. Total interest-bearing deposits were $1.96 billion at June 30, 2025 a decrease of $21.1 million from March 31, 2025 and an increase of $597.4 million from June 30, 2024. The decrease from March 31, 2025 was driven primarily by the withdrawal of a significant 1031 Exchange deposit held on behalf of a commercial customer. Time deposits, included in interest-bearing deposits, increased $3.3 million and $225.0 million since March 31, 2025 and June 30, 2024, respectively. In June 2025, ACNB Bank issued $20.0 million in brokered time deposits to partially offset the 1031 Exchange deposit withdrawal and the maturity of a $5.0 million brokered deposit during the quarter. The overall increase in total deposits compared to June 30, 2024 was driven primarily by the Acquisition.

Total borrowings were $298.4 million at June 30, 2025, a decrease of $1.1 million and $5.9 million compared to March 31, 2025 and June 30, 2024, respectively.

Stockholders’ Equity

Total stockholders’ equity was $395.2 million at June 30, 2025 compared to $386.9 million at March 31, 2025 and $289.3 million at June 30, 2024. The increase at June 30, 2025 compared to March 31, 2025 was driven primarily by net income of $11.6 million slightly offset by dividends paid of $3.5 million and common stock repurchased of $3.1 million for the three months ended June 30, 2025. The increase at June 30, 2025 compared to June 30, 2024 was driven primarily by the common stock equity issued in the Acquisition.

Tangible book value¹ per share was $29.30, $28.23 and $27.82 at June 30, 2025, March 31, 2025 and June 30, 2024, respectively.

ACNB repurchased 71,592 shares of ACNB common stock in open market transactions during the three months ended June 30, 2025. On June 18, 2025, the Corporation announced that the Board of Directors approved a plan to repurchase, in open market transactions at prevailing market prices, up to 314,000 shares or approximately 3.0%, of the outstanding shares of ACNB’s common stock. This new common stock open market repurchase plan replaces and supersedes any and all earlier announced repurchase plans. There were no shares repurchased under this plan during the three months ended June 30, 2025.

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.

About ACNB Corporation

ACNB Corporation, headquartered in Gettysburg, PA, is the independent $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, including its operating divisions Traditions Bank and Traditions Mortgage, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 33 community banking offices and one loan office located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York, and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, MD and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

SAFE HARBOR AND FORWARD-LOOKING STATEMENTS – Should there be a material subsequent event prior to the filing of the Quarterly Report on Form 10-Q with the Securities and Exchange Commission, the financial information reported in this press release is subject to change to reflect the subsequent event. In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; banking instability caused by bank failures and financial uncertainty of various banks which may adversely impact the Corporation and its securities and loan values, deposit stability, capital adequacy, financial condition, operations, liquidity, and results of operations; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for credit losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of the Corporation’s consolidated financial statements when filed with the SEC. Accordingly, the financial information in this announcement is subject to change. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

ACNB #2025-10
July 24, 2025

ACNB Corporation Financial Highlights Selected Financial Data by Respective Quarter End (Unaudited)

(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
BALANCE SHEET DATA
Total Assets	$	3,259,528		$	3,270,041		$	2,394,830		$	2,420,914		$	2,457,753
Investment securities		520,758			521,306			459,472			483,604			483,868
Total loans, net of unearned income		2,341,816			2,322,209			1,682,910			1,677,112			1,679,600
Allowance for credit losses		(24,353	)		(24,646	)		(17,280	)		(17,214	)		(17,162	)
Deposits		2,524,541			2,540,009			1,792,501			1,791,317			1,838,588
Allowance for unfunded commitments		1,529			1,883			1,394			1,349			1,310
Borrowings		298,395			299,531			271,159			293,091			304,286
Stockholders’ equity		395,151			386,883			303,273			306,755			289,331
INCOME STATEMENT DATA
Interest and dividend income	$	41,576		$	36,290		$	27,381		$	27,241		$	26,869
Interest expense		10,564			9,200			6,269			6,299			5,905
Net interest income		31,012			27,090			21,112			20,942			20,964
(Reversal of) provision for credit losses		(228	)		5,968			249			81			(2,990	)
(Reversal of) provision for unfunded commitments		(354	)		(480	)		44			40			(259	)
Net interest income after (reversal of) provisions for credit losses and unfunded commitments		31,594			21,602			20,819			20,821			24,213
Noninterest income		8,682			7,184			5,803			6,833			6,427
Noninterest expenses		25,366			29,335			18,388			18,244			16,391
Income (loss) before income taxes		14,910			(549	)		8,234			9,410			14,249
Income tax expense (benefit)		3,262			(277	)		1,639			2,206			2,970
Net income (loss)	$	11,648		$	(272	)	$	6,595		$	7,204		$	11,279
PROFITABILITY RATIOS
Total loans, net of unearned income to deposits		92.76	%		91.43	%		93.89	%		93.62	%		91.35	%
Return on average assets (annualized)		1.43			(0.04	)		1.08			1.17			1.86
Return on average equity (annualized)		11.96			(0.31	)		8.57			9.63			16.12
Efficiency ratio¹		56.21			60.13			63.83			60.56			58.61
FTE Net interest margin		4.21			4.07			3.81			3.77			3.82
Yield on average earning assets		5.64			5.45			4.93			4.90			4.89
Yield on investment securities		2.95			2.91			2.58			2.59			2.65
Yield on total loans		6.29			6.08			5.61			5.56			5.53
Cost of funds		1.50			1.45			1.19			1.19			1.12
PER SHARE DATA
Diluted earnings (loss) per share	$	1.11		$	(0.03	)	$	0.77		$	0.84		$	1.32
Cash dividends paid per share		0.34			0.32			0.32			0.32			0.32
Tangible book value per share¹		29.30			28.23			29.51			29.90			27.82
CAPITAL RATIOS²
Tier 1 leverage ratio		10.97	%		11.81	%		12.52	%		12.46	%		12.25	%
Common equity tier 1 ratio		13.96			13.65			16.27			16.07			15.78
Tier 1 risk based capital ratio		14.17			13.86			16.56			16.36			16.07
Total risk based capital ratio		15.75			15.45			18.36			18.15			17.86
CREDIT QUALITY
Net charge-offs to average loans outstanding (annualized)		0.01	%		0.01	%		0.04	%		0.01	%		0.00	%
Total non-performing loans to total loans, net of unearned income³		0.43			0.43			0.40			0.39			0.19
Total non-performing assets to total assets⁴		0.31			0.32			0.30			0.29			0.14
Allowance for credit losses to total loans, net of unearned income		1.04			1.06			1.03			1.03			1.02

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.
² Regulatory capital ratios as of June 30, 2025 are preliminary.
³ Non-performing Loans consists of loans on nonaccrual status and loans greater than 90 days past due and still accruing interest.
⁴ Non-performing Assets consists of Non-performing Loans and Foreclosed assets held for resale.

Consolidated Statements of Condition (Unaudited)
(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			June 30, 2024
ASSETS
Cash and due from banks	$	32,834		$	23,422		$	26,681
Interest-bearing deposits with banks		70,275			100,141			59,593
Total Cash and Cash Equivalents		103,109			123,563			86,274
Equity securities with readily determinable fair values		936			933			919
Investment securities available for sale, at estimated fair value		455,317			455,819			418,364
Investment securities held to maturity, at amortized cost (fair value $56,420, $56,219 and $57,026)		64,505			64,554			64,585
Loans held for sale		16,455			21,413			1,801
Total loans, net of unearned income		2,341,816			2,322,209			1,679,600
Less: Allowance for credit losses		(24,353	)		(24,646	)		(17,162	)
Loans, net		2,317,463			2,297,563			1,662,438
Premises and equipment, net		31,581			32,398			25,760
Right of use asset		4,657			5,440			2,278
Restricted investment in bank stocks		13,533			13,560			11,853
Investment in bank-owned life insurance		96,104			98,814			80,841
Investments in low-income housing partnerships		814			846			940
Goodwill		64,449			64,449			44,185
Intangible assets, net		24,694			25,835			8,446
Foreclosed assets held for resale		32			438			406
Other assets		65,879			64,416			48,663
Total Assets	$	3,259,528		$	3,270,041		$	2,457,753

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing	$	568,301		$	562,700		$	479,726
Interest-bearing		1,956,240			1,977,309			1,358,862
Total Deposits		2,524,541			2,540,009			1,838,588
Short-term borrowings		43,041			44,188			48,974
Long-term borrowings		255,354			255,343			255,312
Lease liability		4,946			5,790			2,278
Allowance for unfunded commitments		1,529			1,883			1,310
Other liabilities		34,966			35,945			21,960
Total Liabilities		2,864,377			2,883,158			2,168,422

Stockholders’ Equity:
Preferred Stock, $2.50 par value; 20,000,000 shares authorized; no shares outstanding at June 30, 2025, March 31, 2025 and June 30, 2024		—			—			—
Common stock, $2.50 par value; 20,000,000 shares authorized; 11,017,121, 11,011,051, and 8,934,495 shares issued; 10,478,149, 10,543,671, and 8,545,629 shares outstanding at June 30, 2025, March 31, 2025 and June 30, 2024, respectively		27,539			27,521			22,330
Treasury stock, at cost; 538,972, 467,380, and 388,866 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively		(17,167	)		(14,309	)		(11,101	)
Additional paid-in capital		178,553			178,011			98,230
Retained earnings		239,077			230,978			226,271
Accumulated other comprehensive loss		(32,851	)		(35,318	)		(46,399	)
Total Stockholders’ Equity		395,151			386,883			289,331
Total Liabilities and Stockholders’ Equity	$	3,259,528		$	3,270,041		$	2,457,753

Consolidated Income Statements (Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in thousands, except per share data)		2025			2024			2025			2024
INTEREST AND DIVIDEND INCOME
Loans, including fees
Taxable	$	36,555		$	22,675		$	68,231		$	44,145
Tax-exempt		317			313			609			632
Investment securities:
Taxable		3,283			2,665			6,185			5,576
Tax-exempt		283			284			571			568
Dividends		307			248			647			488
Other		831			684			1,623			1,434
Total Interest and Dividend Income		41,576			26,869			77,866			52,843
INTEREST EXPENSE
Deposits		7,284			2,643			13,280			4,803
Short-term borrowings		341			304			635			643
Long-term borrowings		2,939			2,958			5,849			5,840
Total Interest Expense		10,564			5,905			19,764			11,286
Net Interest Income		31,012			20,964			58,102			41,557
(Reversal of) provision for credit losses		(228	)		(2,990	)		5,740			(2,767	)
(Reversal of) provision for unfunded commitments		(354	)		(259	)		(834	)		(410	)
Net Interest Income after (Reversal of) Provisions for Credit Losses and Unfunded Commitments		31,594			24,213			53,196			44,734
NONINTEREST INCOME
Insurance commissions		2,908			2,747			5,055			4,862
Service charges on deposits		1,179			1,021			2,273			2,012
Wealth management		1,090			1,069			2,150			2,031
Gain from mortgage loans held for sale		1,575			34			2,430			82
ATM debit card charges		905			841			1,736			1,660
Earnings on investment in bank-owned life insurance		627			493			1,207			970
Gain on life insurance proceeds		31			—			285			—
Net gains on sales or calls of investment securities		22			—			22			69
Net gains (losses) on equity securities		3			1			17			(9	)
Other		342			221			691			417
Total Noninterest Income		8,682			6,427			15,866			12,094
NONINTEREST EXPENSES
Salaries and employee benefits		13,693			10,426			26,554			21,594
Equipment		2,539			1,570			4,819			3,299
Net occupancy		1,277			991			2,719			2,121
Professional services		743			529			1,320			1,145
FDIC and regulatory		435			348			836			723
Other tax		220			356			747			726
Intangible assets amortization		1,141			315			1,998			636
Merger-related		1,943			23			9,974			23
Other		3,375			1,833			5,734			3,786
Total Noninterest Expenses		25,366			16,391			54,701			34,053
Income Before Income Taxes		14,910			14,249			14,361			22,775
Income tax expense		3,262			2,970			2,985			4,728
Net Income	$	11,648		$	11,279		$	11,376		$	18,047
PER SHARE DATA
Basic earnings	$	1.11		$	1.32		$	1.12		$	2.12
Diluted earnings	$	1.11		$	1.32		$	1.12		$	2.12
Weighted average shares basic		10,451,469			8,502,268			10,130,666			8,497,686
Weighted average shares diluted		10,487,519			8,540,706			10,157,331			8,526,177

Average Balances, Income and Expenses, Yields and Rates

	Three months ended June 30, 2025								Three months ended March 31, 2025											Three months ended December 31, 2024											Three months ended September 30, 2024											Three months ended June 30, 2024
(Dollars in thousands)	Average Balance			Interest¹			Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate
ASSETS
Loans:
Taxable	$	2,296,429		$	36,555		6.38	%	$	2,080,231		$	31,676					6.18	%	$	1,619,245		$	23,294					5.72	%	$	1,618,879		$	23,108					5.68	%	$	1,612,380		$	22,675					5.66	%
Tax-exempt		58,903			401		2.73			57,969			370					2.59			57,683			366					2.52			62,401			394					2.51			64,276			396					2.48
Total Loans²		2,355,332			36,956		6.29			2,138,200			32,046					6.08			1,676,928			23,660					5.61			1,681,280			23,502					5.56			1,676,656			23,071					5.53
Investment Securities:
Taxable		482,933			3,590		2.98			447,986			3,242					2.93			431,338			2,786					2.57			441,135			2,868					2.59			442,390			2,913					2.65
Tax-exempt		54,261			358		2.65			54,659			365					2.71			54,453			359					2.62			54,549			359					2.62			54,644			359					2.64
Total Investments³		537,194			3,948		2.95			502,645			3,607					2.91			485,791			3,145					2.58			495,684			3,227					2.59			497,034			3,272					2.65
Interest-bearing deposits with banks		77,348			831		4.31			73,181			792					4.39			60,104			728					4.82			48,794			670					5.46			50,851			684					5.41
Total Earning Assets		2,969,874			41,735		5.64			2,714,026			36,445					5.45			2,222,823			27,533					4.93			2,225,758			27,399					4.90			2,224,541			27,027					4.89
Cash and due from banks		25,610								20,603											20,413											21,684											21,041
Premises and equipment		32,019								29,903											25,679											25,716											25,903
Other assets		255,624								224,522											181,180											184,105											187,937
Allowance for credit losses		(24,615	)							(19,939	)										(17,153	)										(17,147	)										(20,124	)
Total Assets	$	3,258,512							$	2,969,115										$	2,432,942										$	2,440,116										$	2,439,298
LIABILITIES
Interest-bearing demand deposits	$	612,812		$	514		0.34	%	$	573,341				$	524		0.37		%	$	519,833				$	511		0.39		%	$	518,368				$	552		0.42		%	$	513,163				$	275		0.22		%
Money markets		536,755			2,706		2.02			447,297					1,984		1.80				251,781					747		1.18				246,653					692		1.12				248,191					613		0.99
Savings deposits		342,327			27		0.03			331,103					27		0.03				315,512					34		0.04				318,291					26		0.03				327,274					30		0.04
Time deposits		473,589			4,037		3.42			410,749					3,461		3.42				268,559					1,987		2.94				258,053					1,842		2.84				263,045					1,725		2.64
Total Interest-Bearing Deposits		1,965,483			7,284		1.49			1,762,490					5,996		1.38				1,355,685					3,279		0.96				1,341,365					3,112		0.92				1,351,673					2,643		0.79
Short-term borrowings		44,515			341		3.07			38,721					294		3.08				23,087					12		0.21				38,666					204		2.10				37,256					304		3.28
Long-term borrowings		255,347			2,939		4.62			257,558					2,910		4.58				255,326					2,978		4.64				255,316					2,983		4.65				255,305					2,958		4.66
Total Borrowings		299,862			3,280		4.39			296,279					3,204		4.39				278,413					2,990		4.27				293,982					3,187		4.31				292,561					3,262		4.48
Total Interest-Bearing Liabilities		2,265,345			10,564		1.87			2,058,769					9,200		1.81				1,634,098					6,269		1.53				1,635,347					6,299		1.53				1,644,234					5,905		1.44
Noninterest-bearing demand deposits		563,321								512,966											464,949											477,350											485,351
Other liabilities		39,271								36,934											27,887											29,946											28,348
Stockholders’ Equity		390,575								360,446											306,008											297,473											281,365
Total Liabilities and Stockholders’ Equity	$	3,258,512							$	2,969,115										$	2,432,942										$	2,440,116										$	2,439,298
Taxable Equivalent Net Interest Income					31,171										27,245											21,264											21,100											21,122
Taxable Equivalent Adjustment					(159	)									(155	)										(152	)										(158	)										(158	)
Net Interest Income				$	31,012									$	27,090										$	21,112										$	20,942										$	20,964
Cost of Funds							1.50	%									1.45		%									1.19		%									1.19		%									1.12		%
FTE Net Interest Margin							4.21	%									4.07		%									3.81		%									3.77		%									3.82		%

_______________¹ Income on interest-earning assets has been computed on a fully taxable equivalent (FTE) basis using the 21% federal income tax statutory rate.
² Average balances include non-accrual loans and are net of unearned income.
³ Average balances of investment securities is computed at fair value.

Average Balances, Income and Expenses, Yields and Rates

	Six months ended June 30, 2025								Six months ended June 30, 2024
(Dollars in thousands)		Average Balance			Interest¹		Yield/ Rate			Average Balance			Interest¹		Yield/ Rate
ASSETS
Loans:
Taxable	$	2,188,852		$	68,231		6.29	%	$	1,592,745		$	44,145		5.57	%
Tax-exempt		58,438			771		2.66			65,050		800			2.47
Total Loans²		2,247,290			69,002		6.19			1,657,795		44,945			5.45
Investment Securities:
Taxable		465,556			6,832		2.96			454,928		6,064			2.68
Tax-exempt		54,459			723		2.68			54,692		719			2.64
Total Investments³		520,015			7,555		2.93			509,620		6,783			2.68
Interest-bearing deposits with banks		75,276			1,623		4.35			52,504		1,434			5.49
Total Earning Assets		2,842,581			78,180		5.55			2,219,919		53,162			4.82
Cash and due from banks		23,120								20,790
Premises and equipment		30,967								26,051
Other assets		240,235								187,458
Allowance for credit losses		(22,290	)							(20,044	)
Total Assets	$	3,114,613							$	2,434,174
LIABILITIES
Interest-bearing demand deposits	$	593,185		$	1,038		0.35	%	$	512,932		$	540		0.21	%
Money markets		492,273			4,690		1.92			248,244			1,149		0.93
Savings deposits		336,746			54		0.03			331,244			58		0.04
Time deposits		442,343			7,498		3.42			253,763			3,056		2.42
Total Interest-Bearing Deposits		1,864,547			13,280		1.44			1,346,183			4,803		0.72
Short-term borrowings		41,634			635		3.08			42,170			643		3.07
Long-term borrowings		256,447			5,849		4.60			252,004			5,840		4.66
Total Borrowings		298,081			6,484		4.39			294,174			6,483		4.43
Total Interest-Bearing Liabilities		2,162,628			19,764		1.84			1,640,357			11,286		1.38
Noninterest-bearing demand deposits		538,282								485,999
Other liabilities		38,109								27,626
Stockholders’ Equity		375,594								280,192
Total Liabilities and Stockholders’ Equity	$	3,114,613							$	2,434,174
Taxable Equivalent Net Interest Income					58,416								41,876
Taxable Equivalent Adjustment					(314	)							(319	)
Net Interest Income				$	58,102							$	41,557
Cost of Funds							1.48	%							1.07	%
FTE Net Interest Margin							4.14	%							3.79	%

_______________
¹ Income on interest-earning assets has been computed on a fully taxable equivalent basis (FTE) using the 21% federal income tax statutory rate.
² Average balances include non-accrual loans and are net of unearned income.
³ Average balances of investment securities is computed at fair value.

Non-GAAP Reconciliation

Note: The Corporation has presented the following non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation’s results of operations and financial condition. These non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation’s industry. Investors should recognize that the Corporation’s presentation of these non- GAAP financial measures might not be comparable to similarly-titled measures of other corporations. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety.

	Three Months Ended
(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
Tangible book value per share
Stockholders’ equity	$	395,151		$	386,883		$	303,273		$	306,755		$	289,331
Less: Goodwill and intangible assets		(89,143	)		(90,284	)		(52,023	)		(52,327	)		(52,631	)
Tangible common stockholders’ equity (numerator)	$	306,008		$	296,599		$	251,250		$	254,428		$	236,700
Shares outstanding, less unvested shares, end of period (denominator)		10,442,269			10,506,822			8,515,347			8,510,187			8,507,191
Tangible book value per share	$	29.30		$	28.23		$	29.51		$	29.90		$	27.82
Tangible common equity to tangible assets (TCE/TA Ratio)
Tangible common stockholders’ equity (numerator)	$	306,008		$	296,599		$	251,250		$	254,428		$	236,700
Total assets	$	3,259,528		$	3,270,041		$	2,394,830		$	2,420,914		$	2,457,753
Less: Goodwill and intangible assets		(89,143	)		(90,284	)		(52,023	)		(52,327	)		(52,631	)
Total tangible assets (denominator)	$	3,170,385		$	3,179,757		$	2,342,807		$	2,368,587		$	2,405,122
Tangible common equity to tangible assets		9.65	%		9.33	%		10.72	%		10.74	%		9.84	%
Efficiency Ratio
Noninterest expense	$	25,366		$	29,335		$	18,388		$	18,244		$	16,391
Less: Intangible amortization		1,141			857			304			304			315
Less: Merger-related expense		1,943			8,031			885			1,137			23
Noninterest expense (numerator)	$	22,282		$	20,447		$	17,199		$	16,803		$	16,053
Net interest income	$	31,012		$	27,090		$	21,112		$	20,942		$	20,964
Plus: Total noninterest income		8,682			7,184			5,803			6,833			6,427
Less: Gain on life insurance proceeds		31			254			—			—			—
Less: Net gains on sales or calls of securities		22			—			—			—			—
Less: Net gains (losses) on equity securities		3			14			(28	)		28			1
Total revenue (denominator)	$	39,638		$	34,006		$	26,943		$	27,747		$	27,390
Efficiency ratio		56.21	%		60.13	%		63.83	%		60.56	%		58.61	%

Contact:		Jason H. Weber EVP/Treasurer & Chief Financial Officer 717.339.5090 jweber@acnb.com

The MIL Network –

July 25, 2025

MIL-OSI: ACNB Corporation Reports 2025 Second Quarter Financial Results

Source: GlobeNewswire (MIL-OSI)

GETTYSBURG, Pa., July 24, 2025 (GLOBE NEWSWIRE) — ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $11.6 million, or $1.11 diluted earnings per share, for the three months ended June 30, 2025 compared to net income of $11.3 million, or $1.32 diluted earnings per share, for the three months ended June 30, 2024 and compared to net loss of $272 thousand, or $0.03 diluted loss per share, for the three months ended March 31, 2025. Financial results for the three months ended March 31, 2025 were impacted by two discrete items that were related to the acquisition of Traditions Bancorp, Inc. (“Traditions”) (“Acquisition”): a provision for credit losses on non-purchase credit deteriorated (“PCD”) loans of $4.2 million, net of taxes, and merger-related expenses, net of taxes, totaling $6.2 million.

2025 Second Quarter Highlights

Fully taxable equivalent (“FTE”) net interest margin was 4.21% for the three months ended June 30, 2025 compared to 4.07% for the three months ended March 31, 2025 and 3.82% for the three months ended June 30, 2024.
Return on average assets was 1.43% and return on average equity was 11.96% for the three months ended June 30, 2025.
Total loans were $2.34 billion at June 30, 2025, an increase of $19.6 million, or 0.8%, from March 31, 2025, or 3.4% on an annualized basis.
Tangible common equity to tangible assets ratio¹ of 9.65% at June 30, 2025 compared to 9.33% at March 31, 2025 and 9.84% at June 30, 2024. The net unrealized loss on the available for sale securities portfolio was $36.2 million at June 30, 2025 compared to a net unrealized loss of $39.7 million at March 31, 2025 and a net unrealized loss of $52.7 million at June 30, 2024.
As announced on Form 8-K on July 23, 2025, the Board of Directors approved and declared a regular quarterly cash dividend of $0.34 per share of ACNB Corporation common stock for the second quarter, reflecting a $0.02, or 6.3%, increase over the same period of 2024.
ACNB repurchased 71,592 shares of ACNB common stock in open market transactions during the three months ended June 30, 2025. On June 18, 2025, the Corporation announced that the Board of Directors approved a plan to repurchase, in open market transactions at prevailing market prices, up to 314,000 shares or approximately 3.0%, of the outstanding shares of ACNB’s common stock.

“We are pleased to share strong results for the second quarter of 2025 which reflect our first full quarter of combined operations including Traditions Bank, a division of ACNB Bank. After completing the acquisition in early February of this year, we are excited to share that we have successfully completed our system conversion enabling all ACNB Bank customers to bank at any convenient location,” said James P. Helt, ACNB Corporation President and Chief Executive Officer.

“Our financial results reflect our continued commitment to our community banking business model and to generating long term shareholder value. The quarter was represented by strong profitability, an increase in quarter over quarter net loan growth, stable asset quality and an active capital management strategy supported by a $0.34 second quarter dividend payment and continued open market share repurchases.”

Mr. Helt continued, “As we look to the remainder of the year, we are focused on managing through the uncertain national economic challenges by continuing to diversify our revenue streams with ACNB Insurance Services, our Wealth Management teams and Traditions Mortgage. We are optimistic that our strong capital position, ample liquidity, superior asset quality metrics and our focus on profitability will enable us to deliver on our commitment to our many different stakeholders.”

ACNB’s financial results for any periods ended prior to February 1, 2025 reflect ACNB on a standalone basis. As a result, ACNB’s financial results for the three months ended June 30, 2025 may not be directly comparable to prior reported periods.

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.

Net Interest Income and Margin

Net interest income for the three months ended June 30, 2025 totaled $31.0 million, an increase of $10.0 million from the three months ended June 30, 2024 and an increase of $3.9 million from the three months ended March 31, 2025. The increases were driven primarily by the Acquisition. The FTE net interest margin for the three months ended June 30, 2025 was 4.21%, a 39 basis points increase from the three months ended June 30, 2024 and a 14 basis points increase from the three months ended March 31, 2025. The accretion impact of acquisition accounting adjustments on loans and deposits from the Acquisition was $2.2 million and $1.5 million for the three months ended June 30, 2025 and the three months ended March 31, 2025, respectively. The following discussion of increases in average balances and yields compared to the previous periods were driven primarily by the Acquisition. For the three months ended June 30, 2025, total average loans increased $678.7 million and $217.1 million compared to the three months ended June 30, 2024 and the three months ended March 31, 2025, respectively. The yield on total loans was 6.29% for the three months ended June 30, 2025, an increase of 76 basis points compared to the three months ended June 30, 2024 and an increase of 21 basis points from the three months ended March 31, 2025. For the three months ended June 30, 2025, total average interest- bearing deposits increased $613.8 million from the three months ended June 30, 2024 and increased $203.0 million from the three months ended March 31, 2025. The average rate paid on interest-bearing deposits was 1.49% for the three months ended June 30, 2025, an increase of 70 basis points from the three months ended June 30, 2024 and an increase of 11 basis points from the three months ended March 31, 2025. For the three months ended June 30, 2025, total average noninterest-bearing demand deposits increased $78.0 million from the three months ended June 30, 2024 and increased $50.4 million from the three months ended March 31, 2025.

Noninterest Income

Noninterest income for the three months ended June 30, 2025 was $8.7 million, an increase of $2.3 million from the three months ended June 30, 2024 and an increase of $1.5 million from the three months ended March 31, 2025. Gain from mortgage loans held for sale for the three months ended June 30, 2025 was $1.6 million, an increase of $1.5 million from the three months ended June 30, 2024 and an increase of $720 thousand from the three months ended March 31, 2025. Insurance commissions for the three months ended June 30, 2025 were $2.9 million, an increase of $161 thousand from the three months ended June 30, 2024 driven primarily by timing of policy renewals and new business and an increase of $761 thousand from the three months ended March 31, 2025 driven primarily by seasonally stronger policy renewals and an increase in contingent commission income during the three months ended June 30, 2025 for contingent commissions earned in 2024. Service charges on deposits were $1.2 million, an increase of $158 thousand from the three months ended June 30, 2024 and an increase of $85 thousand from the three months ended March 31, 2025 driven primarily by the Acquisition.

Noninterest Expense

Noninterest expense for the three months ended June 30, 2025 increased $9.0 million from the three months ended June 30, 2024 and decreased $4.0 million from the three months ended March 31, 2025. Merger-related expenses totaled $1.9 million for the three months ended June 30, 2025 compared to $23 thousand for the three months ended June 30, 2024 and $8.0 million for the three months ended March 31, 2025. Salaries and employee benefits expense increased $3.3 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $832 thousand compared to three months ended March 31, 2025 driven primarily by an increased number of employees attributable to the Acquisition, merit increases and higher mortgage commissions. Net occupancy increased $286 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 driven primarily by the Acquisition and decreased $165 thousand compared to the three months ended March 31, 2025 driven primarily by lower snow removal costs. Equipment expense increased $969 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $259 thousand compared to the three months ended March 31, 2025 driven primarily by the Acquisition and the implementation of new additional products into our core processing system. Other tax decreased $136 thousand for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and decreased $307 thousand compared to the three months ended March 31, 2025 driven primarily by earned income tax credits recognized in the period. Intangible assets amortization increased $826 thousand during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $284 thousand compared to the three months ended March 31, 2025 driven by the Acquisition. Other increased $1.5 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 and increased $1.0 million compared to the three months ended March 31, 2025 driven primarily by the Acquisition, earned income tax related donations, and higher internet banking services.

Loans and Asset Quality

Total loans outstanding were $2.34 billion at June 30, 2025, an increase of $19.6 million from March 31, 2025 and an increase of $662.2 million from June 30, 2024. The growth from March 31, 2025 was spread across real estate construction, commercial and industrial, home equity lines of credit and residential mortgage. The increase compared to June 30, 2024 was spread across all loan categories and was driven primarily by the Acquisition. The allowance for credit losses was $24.4 million at June 30, 2025, a decrease of $293 thousand compared to March 31, 2025 and an increase of $7.2 million compared to June 30, 2024. The decrease compared to March 31, 2025 was driven primarily by the incorporation of post-COVID lower credit loss history in the bank’s allowance for credit losses model. The increase compared to June 30, 2024 was driven primarily by the Acquisition. The allowance for unfunded commitments was $1.5 million at June 30, 2025, a decrease of $354 thousand compared to March 31, 2025 and an increase of $219 thousand compared to June 30, 2024. The decrease compared to March 31, 2025 was driven primarily by the incorporation of post-COVID lower credit loss history in the bank’s allowance for unfunded commitments model and lower commitments. The increase compared to June 30, 2024 was driven primarily by the Acquisition.

Non-performing loans were $10.1 million, or 0.43%, of total loans, net of unearned income, at June 30, 2025 compared to $10.0 million, or 0.43%, of total loans at March 31, 2025 and $3.1 million, or 0.19%, of total loans at June 30, 2024. The increase in non-performing loans at June 30, 2025 compared to June 30, 2024 was driven primarily by one long-standing commercial relationship in the healthcare industry, comprised of both owner-occupied commercial real estate and commercial and industrial loans, that moved into non-performing loan status during 2024 and by the Acquisition. Annualized net charge-offs for the three months ended June 30, 2025 were 0.01% of total average loans compared to 0.01% for the three months ended March 31, 2025 and 0.00% for the three months ended June 30, 2024.

Deposits and Borrowings

Deposits totaled $2.52 billion at June 30, 2025, a decrease of $15.5 million from March 31, 2025 and an increase of $686.0 million from June 30, 2024. Included in total deposits at June 30, 2025 were $568.3 million of noninterest-bearing deposits, which increased $5.6 million and $88.6 million from March 31, 2025 and June 30, 2024, respectively. Total interest-bearing deposits were $1.96 billion at June 30, 2025 a decrease of $21.1 million from March 31, 2025 and an increase of $597.4 million from June 30, 2024. The decrease from March 31, 2025 was driven primarily by the withdrawal of a significant 1031 Exchange deposit held on behalf of a commercial customer. Time deposits, included in interest-bearing deposits, increased $3.3 million and $225.0 million since March 31, 2025 and June 30, 2024, respectively. In June 2025, ACNB Bank issued $20.0 million in brokered time deposits to partially offset the 1031 Exchange deposit withdrawal and the maturity of a $5.0 million brokered deposit during the quarter. The overall increase in total deposits compared to June 30, 2024 was driven primarily by the Acquisition.

Total borrowings were $298.4 million at June 30, 2025, a decrease of $1.1 million and $5.9 million compared to March 31, 2025 and June 30, 2024, respectively.

Stockholders’ Equity

Total stockholders’ equity was $395.2 million at June 30, 2025 compared to $386.9 million at March 31, 2025 and $289.3 million at June 30, 2024. The increase at June 30, 2025 compared to March 31, 2025 was driven primarily by net income of $11.6 million slightly offset by dividends paid of $3.5 million and common stock repurchased of $3.1 million for the three months ended June 30, 2025. The increase at June 30, 2025 compared to June 30, 2024 was driven primarily by the common stock equity issued in the Acquisition.

Tangible book value¹ per share was $29.30, $28.23 and $27.82 at June 30, 2025, March 31, 2025 and June 30, 2024, respectively.

ACNB repurchased 71,592 shares of ACNB common stock in open market transactions during the three months ended June 30, 2025. On June 18, 2025, the Corporation announced that the Board of Directors approved a plan to repurchase, in open market transactions at prevailing market prices, up to 314,000 shares or approximately 3.0%, of the outstanding shares of ACNB’s common stock. This new common stock open market repurchase plan replaces and supersedes any and all earlier announced repurchase plans. There were no shares repurchased under this plan during the three months ended June 30, 2025.

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.

About ACNB Corporation

ACNB Corporation, headquartered in Gettysburg, PA, is the independent $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, including its operating divisions Traditions Bank and Traditions Mortgage, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 33 community banking offices and one loan office located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York, and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, MD and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

SAFE HARBOR AND FORWARD-LOOKING STATEMENTS – Should there be a material subsequent event prior to the filing of the Quarterly Report on Form 10-Q with the Securities and Exchange Commission, the financial information reported in this press release is subject to change to reflect the subsequent event. In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; banking instability caused by bank failures and financial uncertainty of various banks which may adversely impact the Corporation and its securities and loan values, deposit stability, capital adequacy, financial condition, operations, liquidity, and results of operations; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for credit losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. Management considers subsequent events occurring after the balance sheet date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of the Corporation’s consolidated financial statements when filed with the SEC. Accordingly, the financial information in this announcement is subject to change. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

ACNB #2025-10
July 24, 2025

ACNB Corporation Financial Highlights Selected Financial Data by Respective Quarter End (Unaudited)

(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
BALANCE SHEET DATA
Total Assets	$	3,259,528		$	3,270,041		$	2,394,830		$	2,420,914		$	2,457,753
Investment securities		520,758			521,306			459,472			483,604			483,868
Total loans, net of unearned income		2,341,816			2,322,209			1,682,910			1,677,112			1,679,600
Allowance for credit losses		(24,353	)		(24,646	)		(17,280	)		(17,214	)		(17,162	)
Deposits		2,524,541			2,540,009			1,792,501			1,791,317			1,838,588
Allowance for unfunded commitments		1,529			1,883			1,394			1,349			1,310
Borrowings		298,395			299,531			271,159			293,091			304,286
Stockholders’ equity		395,151			386,883			303,273			306,755			289,331
INCOME STATEMENT DATA
Interest and dividend income	$	41,576		$	36,290		$	27,381		$	27,241		$	26,869
Interest expense		10,564			9,200			6,269			6,299			5,905
Net interest income		31,012			27,090			21,112			20,942			20,964
(Reversal of) provision for credit losses		(228	)		5,968			249			81			(2,990	)
(Reversal of) provision for unfunded commitments		(354	)		(480	)		44			40			(259	)
Net interest income after (reversal of) provisions for credit losses and unfunded commitments		31,594			21,602			20,819			20,821			24,213
Noninterest income		8,682			7,184			5,803			6,833			6,427
Noninterest expenses		25,366			29,335			18,388			18,244			16,391
Income (loss) before income taxes		14,910			(549	)		8,234			9,410			14,249
Income tax expense (benefit)		3,262			(277	)		1,639			2,206			2,970
Net income (loss)	$	11,648		$	(272	)	$	6,595		$	7,204		$	11,279
PROFITABILITY RATIOS
Total loans, net of unearned income to deposits		92.76	%		91.43	%		93.89	%		93.62	%		91.35	%
Return on average assets (annualized)		1.43			(0.04	)		1.08			1.17			1.86
Return on average equity (annualized)		11.96			(0.31	)		8.57			9.63			16.12
Efficiency ratio¹		56.21			60.13			63.83			60.56			58.61
FTE Net interest margin		4.21			4.07			3.81			3.77			3.82
Yield on average earning assets		5.64			5.45			4.93			4.90			4.89
Yield on investment securities		2.95			2.91			2.58			2.59			2.65
Yield on total loans		6.29			6.08			5.61			5.56			5.53
Cost of funds		1.50			1.45			1.19			1.19			1.12
PER SHARE DATA
Diluted earnings (loss) per share	$	1.11		$	(0.03	)	$	0.77		$	0.84		$	1.32
Cash dividends paid per share		0.34			0.32			0.32			0.32			0.32
Tangible book value per share¹		29.30			28.23			29.51			29.90			27.82
CAPITAL RATIOS²
Tier 1 leverage ratio		10.97	%		11.81	%		12.52	%		12.46	%		12.25	%
Common equity tier 1 ratio		13.96			13.65			16.27			16.07			15.78
Tier 1 risk based capital ratio		14.17			13.86			16.56			16.36			16.07
Total risk based capital ratio		15.75			15.45			18.36			18.15			17.86
CREDIT QUALITY
Net charge-offs to average loans outstanding (annualized)		0.01	%		0.01	%		0.04	%		0.01	%		0.00	%
Total non-performing loans to total loans, net of unearned income³		0.43			0.43			0.40			0.39			0.19
Total non-performing assets to total assets⁴		0.31			0.32			0.30			0.29			0.14
Allowance for credit losses to total loans, net of unearned income		1.04			1.06			1.03			1.03			1.02

_______________
¹ Non-GAAP financial measure. Please refer to the calculation on the page titled “Non-GAAP Reconciliation” at the end of this document.
² Regulatory capital ratios as of June 30, 2025 are preliminary.
³ Non-performing Loans consists of loans on nonaccrual status and loans greater than 90 days past due and still accruing interest.
⁴ Non-performing Assets consists of Non-performing Loans and Foreclosed assets held for resale.

Consolidated Statements of Condition (Unaudited)
(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			June 30, 2024
ASSETS
Cash and due from banks	$	32,834		$	23,422		$	26,681
Interest-bearing deposits with banks		70,275			100,141			59,593
Total Cash and Cash Equivalents		103,109			123,563			86,274
Equity securities with readily determinable fair values		936			933			919
Investment securities available for sale, at estimated fair value		455,317			455,819			418,364
Investment securities held to maturity, at amortized cost (fair value $56,420, $56,219 and $57,026)		64,505			64,554			64,585
Loans held for sale		16,455			21,413			1,801
Total loans, net of unearned income		2,341,816			2,322,209			1,679,600
Less: Allowance for credit losses		(24,353	)		(24,646	)		(17,162	)
Loans, net		2,317,463			2,297,563			1,662,438
Premises and equipment, net		31,581			32,398			25,760
Right of use asset		4,657			5,440			2,278
Restricted investment in bank stocks		13,533			13,560			11,853
Investment in bank-owned life insurance		96,104			98,814			80,841
Investments in low-income housing partnerships		814			846			940
Goodwill		64,449			64,449			44,185
Intangible assets, net		24,694			25,835			8,446
Foreclosed assets held for resale		32			438			406
Other assets		65,879			64,416			48,663
Total Assets	$	3,259,528		$	3,270,041		$	2,457,753

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing	$	568,301		$	562,700		$	479,726
Interest-bearing		1,956,240			1,977,309			1,358,862
Total Deposits		2,524,541			2,540,009			1,838,588
Short-term borrowings		43,041			44,188			48,974
Long-term borrowings		255,354			255,343			255,312
Lease liability		4,946			5,790			2,278
Allowance for unfunded commitments		1,529			1,883			1,310
Other liabilities		34,966			35,945			21,960
Total Liabilities		2,864,377			2,883,158			2,168,422

Stockholders’ Equity:
Preferred Stock, $2.50 par value; 20,000,000 shares authorized; no shares outstanding at June 30, 2025, March 31, 2025 and June 30, 2024		—			—			—
Common stock, $2.50 par value; 20,000,000 shares authorized; 11,017,121, 11,011,051, and 8,934,495 shares issued; 10,478,149, 10,543,671, and 8,545,629 shares outstanding at June 30, 2025, March 31, 2025 and June 30, 2024, respectively		27,539			27,521			22,330
Treasury stock, at cost; 538,972, 467,380, and 388,866 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively		(17,167	)		(14,309	)		(11,101	)
Additional paid-in capital		178,553			178,011			98,230
Retained earnings		239,077			230,978			226,271
Accumulated other comprehensive loss		(32,851	)		(35,318	)		(46,399	)
Total Stockholders’ Equity		395,151			386,883			289,331
Total Liabilities and Stockholders’ Equity	$	3,259,528		$	3,270,041		$	2,457,753

Consolidated Income Statements (Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in thousands, except per share data)		2025			2024			2025			2024
INTEREST AND DIVIDEND INCOME
Loans, including fees
Taxable	$	36,555		$	22,675		$	68,231		$	44,145
Tax-exempt		317			313			609			632
Investment securities:
Taxable		3,283			2,665			6,185			5,576
Tax-exempt		283			284			571			568
Dividends		307			248			647			488
Other		831			684			1,623			1,434
Total Interest and Dividend Income		41,576			26,869			77,866			52,843
INTEREST EXPENSE
Deposits		7,284			2,643			13,280			4,803
Short-term borrowings		341			304			635			643
Long-term borrowings		2,939			2,958			5,849			5,840
Total Interest Expense		10,564			5,905			19,764			11,286
Net Interest Income		31,012			20,964			58,102			41,557
(Reversal of) provision for credit losses		(228	)		(2,990	)		5,740			(2,767	)
(Reversal of) provision for unfunded commitments		(354	)		(259	)		(834	)		(410	)
Net Interest Income after (Reversal of) Provisions for Credit Losses and Unfunded Commitments		31,594			24,213			53,196			44,734
NONINTEREST INCOME
Insurance commissions		2,908			2,747			5,055			4,862
Service charges on deposits		1,179			1,021			2,273			2,012
Wealth management		1,090			1,069			2,150			2,031
Gain from mortgage loans held for sale		1,575			34			2,430			82
ATM debit card charges		905			841			1,736			1,660
Earnings on investment in bank-owned life insurance		627			493			1,207			970
Gain on life insurance proceeds		31			—			285			—
Net gains on sales or calls of investment securities		22			—			22			69
Net gains (losses) on equity securities		3			1			17			(9	)
Other		342			221			691			417
Total Noninterest Income		8,682			6,427			15,866			12,094
NONINTEREST EXPENSES
Salaries and employee benefits		13,693			10,426			26,554			21,594
Equipment		2,539			1,570			4,819			3,299
Net occupancy		1,277			991			2,719			2,121
Professional services		743			529			1,320			1,145
FDIC and regulatory		435			348			836			723
Other tax		220			356			747			726
Intangible assets amortization		1,141			315			1,998			636
Merger-related		1,943			23			9,974			23
Other		3,375			1,833			5,734			3,786
Total Noninterest Expenses		25,366			16,391			54,701			34,053
Income Before Income Taxes		14,910			14,249			14,361			22,775
Income tax expense		3,262			2,970			2,985			4,728
Net Income	$	11,648		$	11,279		$	11,376		$	18,047
PER SHARE DATA
Basic earnings	$	1.11		$	1.32		$	1.12		$	2.12
Diluted earnings	$	1.11		$	1.32		$	1.12		$	2.12
Weighted average shares basic		10,451,469			8,502,268			10,130,666			8,497,686
Weighted average shares diluted		10,487,519			8,540,706			10,157,331			8,526,177

Average Balances, Income and Expenses, Yields and Rates

	Three months ended June 30, 2025								Three months ended March 31, 2025											Three months ended December 31, 2024											Three months ended September 30, 2024											Three months ended June 30, 2024
(Dollars in thousands)	Average Balance			Interest¹			Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate		Average Balance			Interest¹						Yield/ Rate
ASSETS
Loans:
Taxable	$	2,296,429		$	36,555		6.38	%	$	2,080,231		$	31,676					6.18	%	$	1,619,245		$	23,294					5.72	%	$	1,618,879		$	23,108					5.68	%	$	1,612,380		$	22,675					5.66	%
Tax-exempt		58,903			401		2.73			57,969			370					2.59			57,683			366					2.52			62,401			394					2.51			64,276			396					2.48
Total Loans²		2,355,332			36,956		6.29			2,138,200			32,046					6.08			1,676,928			23,660					5.61			1,681,280			23,502					5.56			1,676,656			23,071					5.53
Investment Securities:
Taxable		482,933			3,590		2.98			447,986			3,242					2.93			431,338			2,786					2.57			441,135			2,868					2.59			442,390			2,913					2.65
Tax-exempt		54,261			358		2.65			54,659			365					2.71			54,453			359					2.62			54,549			359					2.62			54,644			359					2.64
Total Investments³		537,194			3,948		2.95			502,645			3,607					2.91			485,791			3,145					2.58			495,684			3,227					2.59			497,034			3,272					2.65
Interest-bearing deposits with banks		77,348			831		4.31			73,181			792					4.39			60,104			728					4.82			48,794			670					5.46			50,851			684					5.41
Total Earning Assets		2,969,874			41,735		5.64			2,714,026			36,445					5.45			2,222,823			27,533					4.93			2,225,758			27,399					4.90			2,224,541			27,027					4.89
Cash and due from banks		25,610								20,603											20,413											21,684											21,041
Premises and equipment		32,019								29,903											25,679											25,716											25,903
Other assets		255,624								224,522											181,180											184,105											187,937
Allowance for credit losses		(24,615	)							(19,939	)										(17,153	)										(17,147	)										(20,124	)
Total Assets	$	3,258,512							$	2,969,115										$	2,432,942										$	2,440,116										$	2,439,298
LIABILITIES
Interest-bearing demand deposits	$	612,812		$	514		0.34	%	$	573,341				$	524		0.37		%	$	519,833				$	511		0.39		%	$	518,368				$	552		0.42		%	$	513,163				$	275		0.22		%
Money markets		536,755			2,706		2.02			447,297					1,984		1.80				251,781					747		1.18				246,653					692		1.12				248,191					613		0.99
Savings deposits		342,327			27		0.03			331,103					27		0.03				315,512					34		0.04				318,291					26		0.03				327,274					30		0.04
Time deposits		473,589			4,037		3.42			410,749					3,461		3.42				268,559					1,987		2.94				258,053					1,842		2.84				263,045					1,725		2.64
Total Interest-Bearing Deposits		1,965,483			7,284		1.49			1,762,490					5,996		1.38				1,355,685					3,279		0.96				1,341,365					3,112		0.92				1,351,673					2,643		0.79
Short-term borrowings		44,515			341		3.07			38,721					294		3.08				23,087					12		0.21				38,666					204		2.10				37,256					304		3.28
Long-term borrowings		255,347			2,939		4.62			257,558					2,910		4.58				255,326					2,978		4.64				255,316					2,983		4.65				255,305					2,958		4.66
Total Borrowings		299,862			3,280		4.39			296,279					3,204		4.39				278,413					2,990		4.27				293,982					3,187		4.31				292,561					3,262		4.48
Total Interest-Bearing Liabilities		2,265,345			10,564		1.87			2,058,769					9,200		1.81				1,634,098					6,269		1.53				1,635,347					6,299		1.53				1,644,234					5,905		1.44
Noninterest-bearing demand deposits		563,321								512,966											464,949											477,350											485,351
Other liabilities		39,271								36,934											27,887											29,946											28,348
Stockholders’ Equity		390,575								360,446											306,008											297,473											281,365
Total Liabilities and Stockholders’ Equity	$	3,258,512							$	2,969,115										$	2,432,942										$	2,440,116										$	2,439,298
Taxable Equivalent Net Interest Income					31,171										27,245											21,264											21,100											21,122
Taxable Equivalent Adjustment					(159	)									(155	)										(152	)										(158	)										(158	)
Net Interest Income				$	31,012									$	27,090										$	21,112										$	20,942										$	20,964
Cost of Funds							1.50	%									1.45		%									1.19		%									1.19		%									1.12		%
FTE Net Interest Margin							4.21	%									4.07		%									3.81		%									3.77		%									3.82		%

_______________¹ Income on interest-earning assets has been computed on a fully taxable equivalent (FTE) basis using the 21% federal income tax statutory rate.
² Average balances include non-accrual loans and are net of unearned income.
³ Average balances of investment securities is computed at fair value.

Average Balances, Income and Expenses, Yields and Rates

	Six months ended June 30, 2025								Six months ended June 30, 2024
(Dollars in thousands)		Average Balance			Interest¹		Yield/ Rate			Average Balance			Interest¹		Yield/ Rate
ASSETS
Loans:
Taxable	$	2,188,852		$	68,231		6.29	%	$	1,592,745		$	44,145		5.57	%
Tax-exempt		58,438			771		2.66			65,050		800			2.47
Total Loans²		2,247,290			69,002		6.19			1,657,795		44,945			5.45
Investment Securities:
Taxable		465,556			6,832		2.96			454,928		6,064			2.68
Tax-exempt		54,459			723		2.68			54,692		719			2.64
Total Investments³		520,015			7,555		2.93			509,620		6,783			2.68
Interest-bearing deposits with banks		75,276			1,623		4.35			52,504		1,434			5.49
Total Earning Assets		2,842,581			78,180		5.55			2,219,919		53,162			4.82
Cash and due from banks		23,120								20,790
Premises and equipment		30,967								26,051
Other assets		240,235								187,458
Allowance for credit losses		(22,290	)							(20,044	)
Total Assets	$	3,114,613							$	2,434,174
LIABILITIES
Interest-bearing demand deposits	$	593,185		$	1,038		0.35	%	$	512,932		$	540		0.21	%
Money markets		492,273			4,690		1.92			248,244			1,149		0.93
Savings deposits		336,746			54		0.03			331,244			58		0.04
Time deposits		442,343			7,498		3.42			253,763			3,056		2.42
Total Interest-Bearing Deposits		1,864,547			13,280		1.44			1,346,183			4,803		0.72
Short-term borrowings		41,634			635		3.08			42,170			643		3.07
Long-term borrowings		256,447			5,849		4.60			252,004			5,840		4.66
Total Borrowings		298,081			6,484		4.39			294,174			6,483		4.43
Total Interest-Bearing Liabilities		2,162,628			19,764		1.84			1,640,357			11,286		1.38
Noninterest-bearing demand deposits		538,282								485,999
Other liabilities		38,109								27,626
Stockholders’ Equity		375,594								280,192
Total Liabilities and Stockholders’ Equity	$	3,114,613							$	2,434,174
Taxable Equivalent Net Interest Income					58,416								41,876
Taxable Equivalent Adjustment					(314	)							(319	)
Net Interest Income				$	58,102							$	41,557
Cost of Funds							1.48	%							1.07	%
FTE Net Interest Margin							4.14	%							3.79	%

_______________
¹ Income on interest-earning assets has been computed on a fully taxable equivalent basis (FTE) using the 21% federal income tax statutory rate.
² Average balances include non-accrual loans and are net of unearned income.
³ Average balances of investment securities is computed at fair value.

Non-GAAP Reconciliation

Note: The Corporation has presented the following non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation’s results of operations and financial condition. These non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation’s industry. Investors should recognize that the Corporation’s presentation of these non- GAAP financial measures might not be comparable to similarly-titled measures of other corporations. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety.

	Three Months Ended
(Dollars in thousands, except per share data)	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
Tangible book value per share
Stockholders’ equity	$	395,151		$	386,883		$	303,273		$	306,755		$	289,331
Less: Goodwill and intangible assets		(89,143	)		(90,284	)		(52,023	)		(52,327	)		(52,631	)
Tangible common stockholders’ equity (numerator)	$	306,008		$	296,599		$	251,250		$	254,428		$	236,700
Shares outstanding, less unvested shares, end of period (denominator)		10,442,269			10,506,822			8,515,347			8,510,187			8,507,191
Tangible book value per share	$	29.30		$	28.23		$	29.51		$	29.90		$	27.82
Tangible common equity to tangible assets (TCE/TA Ratio)
Tangible common stockholders’ equity (numerator)	$	306,008		$	296,599		$	251,250		$	254,428		$	236,700
Total assets	$	3,259,528		$	3,270,041		$	2,394,830		$	2,420,914		$	2,457,753
Less: Goodwill and intangible assets		(89,143	)		(90,284	)		(52,023	)		(52,327	)		(52,631	)
Total tangible assets (denominator)	$	3,170,385		$	3,179,757		$	2,342,807		$	2,368,587		$	2,405,122
Tangible common equity to tangible assets		9.65	%		9.33	%		10.72	%		10.74	%		9.84	%
Efficiency Ratio
Noninterest expense	$	25,366		$	29,335		$	18,388		$	18,244		$	16,391
Less: Intangible amortization		1,141			857			304			304			315
Less: Merger-related expense		1,943			8,031			885			1,137			23
Noninterest expense (numerator)	$	22,282		$	20,447		$	17,199		$	16,803		$	16,053
Net interest income	$	31,012		$	27,090		$	21,112		$	20,942		$	20,964
Plus: Total noninterest income		8,682			7,184			5,803			6,833			6,427
Less: Gain on life insurance proceeds		31			254			—			—			—
Less: Net gains on sales or calls of securities		22			—			—			—			—
Less: Net gains (losses) on equity securities		3			14			(28	)		28			1
Total revenue (denominator)	$	39,638		$	34,006		$	26,943		$	27,747		$	27,390
Efficiency ratio		56.21	%		60.13	%		63.83	%		60.56	%		58.61	%

Contact:		Jason H. Weber EVP/Treasurer & Chief Financial Officer 717.339.5090 jweber@acnb.com

The MIL Network –

July 25, 2025

MIL-OSI: Drones Dominating the Skies with Increased Production Presenting a Rare Opportunity to Capitalize on Exponential Growth

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., July 24, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – A recent release from the Department of Defense (DOD) said that: “The Pentagon to Increase Low-Cost Drone Production in U.S. It said that the Defense Department, with help from industry, will ramp up production and fielding of drones to maintain battlefield superiority. Recently at the Pentagon, 18 American-made drone prototypes were on display. Defense Secretary Pete Hegseth, who toured the displays, said the drones that are manufactured using off-the-shelf components for rapid production are examples of disruptive thinking. Emil Michael, undersecretary of defense for research and engineering, said the prototypes on display went from concept to development in just an average of 18 months, a process that normally takes up to six years. The department will continue to rapidly innovate and scale up production of drones and other systems using cost, resilience, firepower and range as driving factors, which are areas DOD wants to improve upon,” Michael said. Hegseth said in a July 10, 2025, memorandum that he’s rescinding restrictive policies that hindered drone production. “Drones are the biggest battlefield innovation in a generation, accounting for most of this year’s casualties in Ukraine. Our adversaries collectively produce millions of cheap drones each year,” he said, noting the U.S. military is lacking needed quantities of lethal small drones. Active Companies in the drone industries include ZenaTech, Inc. (NASDAQ: ZENA), Mercury Systems, Inc. (NASDAQ: MRCY), Safe Pro Group Inc. (NASDAQ: SPAI), RTX Corporation (NYSE: RTX), AIRO Group Holdings, Inc. (NASDAQ: AIRO).

The DOD release added: “The secretary said there are three goals: Prioritizing the purchase of American-made drones and parts with help from industry’s private capital; Arming combat units with low-cost drones made by America’s world-leading engineers and artificial intelligence experts; and Training with drones in realistic battlefield scenarios, led by leaders who are not risk averse.” The report concluded: “President Donald J. Trump signed a June 6, 2025, executive order to speed up U.S. drone production using the latest innovative industry technologies. The president said he supports reducing regulatory uncertainty and streamlining approval and certification processes for safe and secure drone production. Also, the Federal Aviation Administration and DOD will coordinate to streamline the approval processes to expand access to airspace for conducting drone training, Trump said.”

ZenaTech (NASDAQ:ZENA) ZenaDrone Partners with Eagle Point Funding to Win US Defense Customers – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a business technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, today announces that its subsidiary ZenaDrone has signed a strategic partnership agreement with Eagle Point Funding, a specialized consultancy for technology and defense-focused companies, to help win US defense contracts. By leveraging Eagle Point’s deep expertise in R&D grant program opportunities, the company will gain structured support in identifying and preparing competitive proposals, and in establishing and expanding relationships within key US defense and government agencies.

“Our collaboration with Eagle Point Funding will accelerate testing, pilot deployments, and enable long-term procurement discussions—helping ZenaDrone to advance as a key provider of American-made drone solutions,” said Shaun Passley, Ph.D., ZenaTech CEO. “Their expertise in navigating federal R&D funding programs such as SBIR and Department of Defense solicitations (DoD BAA), gives us a powerful advantage as we develop next-generation drone technologies aligned with US defense priorities. This partnership enhances our ability to accelerate product development, expand defense agency relationships, and unlock new growth without equity dilution.”

Eagle Point Funding helps technology companies secure non-dilutive federal R&D grants and contracts from agencies such as the DoD, Air Force, Navy, and others. They specialize in programs such as the Small Business Innovation Research (SBIR), Air Force Works (AFWERX), and the Defense Advanced Research Projects Agency (DARPA), guiding clients through the application process to win contracts.

ZenaDrone has previously completed paid trials with the US Air Force and Navy Reserve, demonstrating its ability to deliver solutions including delivery of critical supplies such as blood in the field. The companies’ suite of drones for military use includes the ZenaDrone 1000, the IQ Nano and the IQ Square drone that are designed for a variety of applications including inspections, surveillance, reconnaissance, and indoor inventory management for warehouses and armories. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the drone industries include:

Mercury Systems, Inc. (NASDAQ: MRCY), a technology company that delivers mission-critical processing to the edge, recently announced it signed two agreements with a European defense prime contractor to expand and accelerate production of processing subsystems and components for radar and electronic warfare missions.

In June, Mercury extended this decades-long customer relationship with a five-year agreement that will enable faster, higher-volume production of sensor processing subsystems powered by Mercury’s HDS6605 6U OpenVPX multiprocessing boards for airborne, land-based, and sea-based radar systems.

Safe Pro Group Inc. (NASDAQ: SPAI), a leader in artificial intelligence (AI)-powered defense and security solutions, recently announced the successful integration of its patented AI object detection models with drone platforms selected for the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record. Safe Pro is seeking to provide the U.S. Army’s future fleet of drones with enhanced explosive threat detection, force protection and essential intelligence, surveillance, and reconnaissance (ISR) capabilities utilizing the Company’s AI-powered computer vision technologies.

This integration supports the U.S. Army’s evolving need for real-time threat detection and ISR capabilities across its next-generation drone fleet. Safe Pro’s proprietary computer vision technology enhances these drones with battlefield-proven AI models capable of rapidly identifying explosive threats and other hazards in complex environments.

RTX Corporation (NYSE: RTX) recently reported second quarter 2025 results. “We continued our momentum in the second quarter with organic sales and profit growth* across all three segments, including 16 percent commercial aftermarket growth,” said RTX Chairman and CEO Chris Calio. “Our backlog grew to $236 billion, up 15 percent versus prior year, and we secured major awards for our geared turbofan engines and integrated air and missile defense capabilities in the quarter.”

“Our updated outlook reflects strong operational performance in the first half and incorporates our current assessment of the impact of tariffs. We are focused on delivering on the strong growth in our commercial and defense end markets and remain well positioned to drive long term profitable growth.”

AIRO Group Holdings, Inc (NASDAQ: AIRO), a global leader in advanced aerospace and defense technologies, recently announced at EAA AirVenture 2025 in Oshkosh, WI, the development of its new middle-mile, medium-lift cargo drone and the expansion of its operations into the YMX Innovation Zone in Mirabel, Quebec. The initiative is led by its Electric Air Mobility segment, Jaunt Air Mobility, and its Canadian subsidiary, Jaunt Air Mobility Canada.

Jaunt’s presence in this hub for Advanced Air Mobility (AAM) innovation strengthens its collaboration with Vertiko Mobilité, a Canadian leader in AAM operations and ground infrastructure development, and benefits from the support of Aéroports de Montréal (ADM).

The new cargo drone is designed to carry 250–500 lbs. over distances of 200+ miles, aiming to provide an efficient, low-emission alternative to traditional middle-mile freight solutions such as box trucks and tractor-trailers.

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SOURCE: FN Media Group

The MIL Network –

July 25, 2025

MIL-OSI: Silvaco Strengthens Leadership Team with Three Industry Veterans to Drive Innovation and Growth

Source: GlobeNewswire (MIL-OSI)

SANTA CLARA, Calif., July 24, 2025 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (“Silvaco”) (NASDAQ: SVCO), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced the addition of three seasoned industry veterans to its leadership team: Andrew Wright as Senior Vice President and General Manager of the Semiconductor IP Business Unit, Jasvinder Singh as Senior Vice President and General Manager of the EDA Business Unit, and John Berg as Vice President of Business Development. Collectively, they bring decades of experience in semiconductor design and software development to Silvaco and will play pivotal roles in accelerating innovation and operational excellence.

“Adding these accomplished leaders strengthens our ability to innovate and scale Silvaco’s organic growth,” said Babak Taheri, CEO of Silvaco. “Their insights and proven track records will help advance and accelerate the next phase of our growth. With their expertise, we are well-positioned to broaden our market presence and deliver even greater value to our customers worldwide.”

Andrew Wright leads Silvaco’s Semiconductor IP Business Unit. Most recently, he served as Senior Vice President of R&D and New Product Introduction at Efabless. He previously served as Executive Vice President of New Product Development at Cypress Semiconductor where he led the company’s chip and IP design methodologies and oversaw the development of all Cypress IP and new products. He has also held executive roles at UltraSense and Waterbit.

Jasvinder Singh leads Silvaco’s EDA Business Unit. With over 20 years of leadership experience in EDA, AI, semiconductor and autonomous systems. Jasvinder has built and scaled global R&D teams and driven product, platform and engineering growth for multi-billion-dollar organizations. He has held senior roles at Synopsys, SiClarity, and Cadence, where he led innovations across AI, verification and cloud-enabled design platforms.

John Berg leads business development across all of Silvaco’s product lines. He brings over two decades of leadership experience in quantum computing, semiconductor electronics, and photonics. John has a track record of productizing transformative hardware technologies and solving complex operational challenges. Most recently, he served as Vice President of Supply Chain at PsiQuantum. He has held senior leadership roles at American Semiconductor, Nantero, and Cypress Semiconductor.

About Silvaco Group, Inc.
Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan. Learn more at silvaco.com.

Contacts
Media Relations:
Tiffany Behany, press@silvaco.com

Investor Relations:
Greg McNiff, investors@silvaco.com

The MIL Network –

July 25, 2025

MIL-OSI: Unimot plans to enter the defence sector – a joint project with PZL Sędziszów and a Ukrainian partner in the field of drones

Source: GlobeNewswire (MIL-OSI)

WARSAW, Poland, July 24, 2025 (GLOBE NEWSWIRE) — PZL Defence was established on 21 July 2025 and is currently undergoing registration. On 24 July 2025, Unimot signed a letter of intent with PZL Sędziszów and PZL Defence, declaring its intention to develop strategic cooperation and build the new company’s expertise in the field of advanced defence technologies. At the same time, an agreement was concluded under which Unimot, following the registration of PZL Defence in the National Court Register, will acquire 40% of the shares in the new company for the amount of PLN 400,000. The initial shareholding structure also provides for a target share of 10% for PZL Sędziszów and 50% for the Ukrainian partner. After completion of the investment process and obtaining the necessary administrative approvals, PZL Defence plans to launch the production of civilian drones and then, after obtaining a licence, expand its activities to include military drones and anti-drone systems for the protection of critical infrastructure.

“We see the growing importance of unmanned technologies for regional security. That is why we plan to engage in a project that combines Polish engineering resources with the unique know-how of our Ukrainian partners, proven not on a training ground but in real combat conditions,” says Adam Sikorski, President of the Management Board of Unimot.

PZL Sędziszów (the name comes from the abbreviation: Polskie Zakłady Lotnicze, meaning Polish Aviation Works), as a licensed manufacturer for the defence sector, will contribute advanced expertise in precision engineering to the project and provide access to a new production hall adapted to the requirements of the defence industry and extensive laboratory and technological facilities. PZL Sędziszów is a plant with over 85 years of history and, based on its current military production licences, currently manufactures filters for military vehicles (Rosomak) and military helicopters from the Leonardo group.

The team of the new company, PZL Defence, is being built with the participation of experts from Poland and Ukraine, including specialists with military and industrial experience. Ultimately, the company will establish a research and development (R&D) centre focused on the design of reconnaissance and interception drones, loitering munitions and systems for neutralising threats from unmanned aerial vehicles.

“The PZL Defence project is a carefully considered response to the profound transformation taking place on the modern battlefield. Since 2022, Russia has deployed over 28,000 Shahed drones against Ukraine, and according to Ukrainian intelligence, this number could soon rise to over 500 drones every night. This clearly shows that anti-drone systems are becoming an integral part of modern defence, both offensive and defensive. Together with our partners, we want to develop technologies that provide a real response to these challenges,” emphasises Adam Sikorski.

The planned activities are in line with the long-term trend of increasing defence spending, both in Poland and across Europe. In 2025, Poland’s defence budget will reach a record PLN 186.6 billion, which is 4.7% of the planned GDP. In the following years, spending is expected to grow – according to estimates, in 2025–2035 it may reach a total of PLN 1.9 trillion. The PZL Defence project is also in line with EU priorities such as the Readiness 2030 programme and the SAFE mechanism, which aim to allocate up to EUR 800 billion to investments in the European defence industry, with access to financial resources, EIB instruments and a flexible budgetary framework.

CONTACT:
Agnieszka Pawelska
rzecznik prasowy
tel. + 48 695 102 997
e-mail: pr@unimot.pl
https://www.unimot.pl/

Source: UNIMOT S.A.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1fc0953e-992e-47b1-80cb-cf9d1278580c

The MIL Network –

July 25, 2025

MIL-OSI: Trader AI: This Trader AI App Sets New Standard in AI-Driven Trading with Unmatched Security and User Approval

Source: GlobeNewswire (MIL-OSI)

New York City, NY, July 24, 2025 (GLOBE NEWSWIRE) — Trader AI, a pioneering fintech platform specializing in AI-powered cryptocurrency trading, today announces the launch of its fully integrated trading robot tailored specifically for Canadian investors. Building on extensive development and rigorous testing, Trader AI delivers a secure, compliant, and highly automated solution designed to help both novice and experienced traders optimize returns while effectively managing risk.

By seamlessly combining advanced machine learning algorithms, real-time market analysis, and regulatory compliance, Trader AI establishes itself as a frontrunner in the emerging landscape of AI-driven crypto trading. With the cryptocurrency market expanding rapidly—exceeding USD 50 billion in annual trading volume—investors are seeking innovative tools that simplify trading processes without compromising on security or transparency. Trader AI’s newly announced features and localized support address these needs directly, empowering Canadians to participate confidently in digital asset markets.

Key Highlights:

AI-Powered Signal Generation: Proprietary machine learning models continuously scan global crypto markets to identify high-probability trade setups across major coins—including Bitcoin (BTC), Ethereum (ETH), and top altcoins—enabling swift, data-driven decision-making.
Fully Automated Execution: Direct API integrations with FINTRAC-registered Canadian brokerages ensure that algorithmic signals translate instantly into live orders, minimizing latency and slippage.
User-Centric Interface: A clean, intuitive dashboard guides users from registration to live trading in under 20 minutes, supported by a built-in demo mode for risk-free practice and an optional manual trading toggle for advanced traders.
Robust Risk Management: Dynamic stop-loss and take-profit mechanisms adjust automatically to real-time volatility metrics, while customizable position-sizing algorithms safeguard capital with preset risk thresholds.
Transparent Fee Structure: Trader AI requires a minimum deposit of USD 250 and operates commission-free—fees are embedded solely within market-standard spreads, ensuring full cost transparency.
Canadian-Focused Compliance: With partnerships in Ontario and British Columbia, Trader AI operates alongside regulated broker-dealers, maintains PIPEDA-aligned data practices, and offers optional KYC verification for withdrawals exceeding CAD 2,000 per month.
Localized Support & Education: 24/7 live chat, toll-free phone lines, region-specific webinars on taxation and compliance, and a bilingual knowledge base demonstrate Trader AI’s commitment to serving Canada’s diverse trading community.

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Trader AI’s Mission: Democratizing Crypto Trading

In recent years, the cryptocurrency sector has witnessed explosive growth—often accompanied by elevated volatility, regulatory uncertainty, and a steep learning curve for newcomers. Recognizing these challenges, Trader AI was conceived to bridge the gap between sophisticated algorithmic trading and accessibility for everyday Canadians. By leveraging artificial intelligence, the platform aims to automate labor-intensive tasks such as trend analysis, technical indicator computation, and real-time order generation, freeing users from the need to monitor markets around the clock.

How Trader AI Works: A Technical Overview

According to official website, Trader AI’s core engine is anchored in a multi-layered AI architecture that integrates supervised learning, deep neural networks, and real-time data aggregation. Below is an outline of the platform’s operational framework:

Comprehensive Market Data Aggregation
- Trader AI continuously ingests live order book data, trade histories, volume indicators, and social sentiment inputs from over 20 global exchanges.
- All incoming data undergoes cleaning and normalization, ensuring consistency for downstream machine learning modules.
Machine Learning and Pattern Recognition
- A combination of supervised models—trained on historical price movements from January 2017 to December 2024—and unsupervised clustering algorithms identify characteristic market patterns, such as sudden volume surges, technical divergence, and on-chain network activity that historically precedes price shifts.
- Periodic model retraining occurs every four weeks, incorporating the most recent market data to adapt to evolving conditions.
Signal Generation and Scoring
- When the AI identifies a pattern that meets predefined confidence thresholds (typically 70–85% probability), it issues a trade signal complete with suggested entry price, stop-loss, take-profit levels, and ideal position size relative to account equity.
- Each signal is assigned a Signal Quality Score (SQS)—a proprietary metric ranging from 0 to 100—that reflects confidence based on factors such as liquidity depth, volatility, and historical win rate for similar setups.
Automated Order Execution
- Upon user authorization (via the “Auto-Trade” toggle), signals are dispatched instantly through secure API connections to partnered Canadian brokerages and select international exchanges.
- In live conditions, orders are executed with an average round-trip latency of under 150 milliseconds, minimizing the risk of slippage during periods of heightened volatility.
Dynamic Risk Management
- Stop-loss and take-profit parameters adjust in real-time based on Average True Range (ATR) and Bollinger Band expansions. For example, if an asset’s 24-hour volatility spikes above 8%, the AI narrows stop-loss bands by 10–15% to limit drawdown.
- The platform’s Position Sizing Algorithm (PSA) calculates optimal trade size by referencing account balance, risk tolerance (e.g., 1–3% per trade), and portfolio diversification targets. Any deviation beyond preset risk thresholds triggers an automated alert or halts new allocations.

Registration and Onboarding: Getting Started in Minutes

Trader AI’s streamlined registration process has been optimized for speed, transparency, and regulatory compliance—ensuring that Canadian clients can begin trading quickly without unnecessary hurdles. The following steps outline the typical user journey from initial sign-up to live trading:

Account Creation
- Visit official website homepage, click “Sign Up,” and complete the registration form with basic information:
  - Full legal name
  - Email address
  - Country of residence (preselected as based on IP detection)
  - Phone number (for 2FA and important notifications)
- Users must acknowledge the platform’s Terms of Service and Privacy Policy, both of which include specific disclosures regarding data handling under PIPEDA regulations.
Email and Phone Verification
- An email containing a verification link is sent immediately; clicking the link confirms the email address.
- A one-time code (OTP) is dispatched to the registered phone number. Entering this code completes the two-step verification process.
Demo Account Activation
- Without any deposit requirement, new users receive CAD 10,000 in virtual funds to explore the platform’s features and test AI-generated signals.
- The demo environment simulates real market conditions, including bid-ask spreads and execution latencies, enabling risk-free practice trades.
Minimum Deposit and Funding Options
- To transition from demo to live trading, a minimum deposit of USD 250 is required.
- Canadian users may fund accounts via:
  - Interac e-Transfer: Funds clear within 1–2 business hours.
  - Credit/Debit Card (Visa/Mastercard): Instant funding up to CAD 5,000 per day for non-verified accounts.
  - Wire Transfer: Larger deposit limits (up to CAD 50,000 daily) with a 1–2 business day processing time.
- Immediately after deposit confirmation, live trading features unlock—allowing users to choose between fully automated or manual signal execution.
Optional KYC Verification
- For withdrawals exceeding CAD 2,000 per month, users are prompted to complete Know Your Customer (KYC) verification by uploading:
  - A government-issued photo ID (e.g., driver’s license, passport)
  - Proof of address (e.g., utility bill, bank statement dated within the last 90 days)
- KYC checks typically finalize within 24–48 hours, though urgent requests may be expedited upon user inquiry.
Live Trading Activation
- With funds deposited and (if necessary) KYC cleared, users can configure initial risk parameters—such as daily drawdown limits, maximum open trades, and preferred asset baskets.
- The AI engine is now primed to generate signals. Traders can elect “Auto-Trade” to allow fully automated execution or opt to review and manually approve each AI recommendation.

Core Features and Functionalities

As per official website, Trader AI’s feature set has been refined to balance sophistication with usability—addressing the distinct needs of Canada’s diverse trading population. The following sections highlight the platform’s most compelling capabilities:

1. AI-Powered Trade Signals

Proprietary Algorithms: Trader AI’s AI suite includes recurrent neural networks (RNNs) and convolutional neural networks (CNNs), which process time-series price data, order flow imbalances, and macroeconomic indicators to forecast short-term price movements.
Cross-Asset Analysis: Signals are not isolated to single-asset momentum. The system examines correlations between Bitcoin, major equities indices, and global macro events—such as central bank announcements—to adjust trading thresholds.
Signal Quality Score (SQS): Each trade recommendation includes an SQS metric (0–100) reflecting confidence based on factors like market depth, recent volatility shifts, and historical win rates for analogous setups. Users can filter signals by minimum SQS thresholds (e.g., ≥ 70) to ensure high-probability engagement.

2. Automated Trade Execution

API Integrations: Trader AI maintains secure API connections with FINTRAC-registered Canadian brokerages—such as Maple Brokerage and Aurora Digital Assets—and renowned international exchanges. This reduces counterparty risk by routing orders through regulated entities rather than holding funds internally.
Low-Latency Order Routing: By co-locating servers near major exchange matching engines, Trader AI achieves average order round-trip times under 150 ms. This is critical during rapid price fluctuations when even small delays can erode profit margins.
Slippage Control: Users may elect “Maximum Slippage Tolerance” parameters (e.g., 0.1%–0.5% of trade size) to prevent orders from executing at disadvantageous prices. If slippage exceeds the user-defined threshold, orders are canceled automatically.

3. Customizable Strategy Settings

Risk Tolerance Profiles: “Conservative,” “Moderate,” and “Aggressive” presets allow users to quickly adopt risk frameworks aligned with their goals. Conservative settings limit daily drawdown to 2% of account equity and cap leverage at 2x; moderate settings permit up to 4% drawdown and 5x leverage; aggressive settings enable up to 6% drawdown and 10x leverage (subject to brokerage approvals).
Asset Basket Creation: User-defined “Smart Baskets” group multiple cryptocurrencies—such as “Top 5 by Market Cap,” “Emerging DeFi Tokens,” or “Stablecoin Arbitrage.” The platform rebalances these baskets weekly based on performance, market capitalization changes, and liquidity metrics.
Volatility-Adaptive Stop-Loss: Stop-loss percentages are not static. Instead, they adjust proportionally to the 14-day Average True Range (ATR) and Bollinger Band expansions. For example, if the ATR for Bitcoin spikes from 2% to 4%, the stop-loss widens by 10–15% to avoid premature exit during heightened volatility.

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4. Portfolio Diversification Engine

Balanced Allocation Recommendations: The AI provides suggested allocation percentages across multiple asset classes—e.g., 40% BTC, 25% ETH, 15% top-10 altcoins, and 20% stablecoins—based on risk-adjusted performance data and user-defined risk tolerance.
Correlated Asset Mitigation: By monitoring correlation coefficients between assets (e.g., BTC vs. ETH correlation of 0.85), the platform can reduce overweight positions to minimize systemic exposure. When correlation exceeds 0.9, the AI recommends temporary reallocation to lower-correlation assets.
Automated Rebalancing: Weekly portfolio rebalancing ensures that no single asset exceeds preset maximum exposure (e.g., 25% of total equity). If an asset’s value grows beyond this cap, the system executes partial sell orders and redistributes proceeds to underweighted categories.

5. Comprehensive Reporting and Analytics

Real-Time Dashboard: The homepage features live P&L, open trade positions, daily profit percentages, and drawdown statistics. A customizable graph displays historical performance, including monthly ROI comparisons against benchmark indices like the S&P 500 and TSX Composite.
Sharpe Ratio & Sortino Ratio: Users can view risk-adjusted performance metrics to gauge risk efficiency. A Sharpe Ratio above 1.5 is highlighted in green, indicating favorable risk-adjusted returns. Sortino Ratio (which penalizes downside volatility) is also displayed for more precise risk assessment.
Trade History: A searchable log details each executed trade (entry price, exit price, timestamp, P&L, SQS). Users can filter by asset, date range, or trade outcome (win/loss). CSV export functionality enables further analysis in external tools.

6. Security and Data Protection

SSL Encryption & Data Integrity: All data in transit is encrypted via AES 256-bit SSL/TLS protocols. Sensitive user information—such as login credentials and payment details—resides in encrypted databases with advanced hashing (bcrypt) and tokenization methods.
Two-Factor Authentication (2FA): Upon login, users must input their password followed by a one-time code generated through an authenticator app (e.g., Google Authenticator) or delivered via SMS. This two-tier verification effectively prevents unauthorized access, even if credentials are compromised.
Third-Party Security Audits: Leading cybersecurity firms—such as CanSecWest Security—conduct quarterly penetration tests and codebase reviews. Summary reports are shared with the Canadian Office of the Privacy Commissioner to demonstrate ongoing compliance with PIPEDA.
Data Residency: All Canadian user data is stored on servers located within Canada, ensuring compliance with provincial data sovereignty regulations. Backups occur daily and are encrypted with unique user-specific keys.

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7. Transparent Fee Structure

No Subscription Fees: Trader AI does not charge recurring platform fees—traders benefit from a zero-cost software model.
Embedded Spread-Only Costs: All trading costs are embedded in exchange spreads. For example:
- BTC–USD: Typical spread between 0.10% and 0.20%.
- ETH–USD: Typical spread between 0.12% and 0.22%.
- Top Altcoins (e.g., LINK, DOT): Spreads between 0.20% and 0.40%.
Withdrawal Fees:
- Interac e-Transfer (≤ CAD 1,000): Flat CAD 20 fee.
- Interac e-Transfer (> CAD 1,000): No fee.
- Wire Transfers: CAD 30 processing fee (waivable for account balances > CAD 10,000).
Currency Conversion Markup: For trades executed in USD or other foreign currencies, a transparent 0.25% conversion margin is applied—visibly displayed on the funding page prior to transaction confirmation.

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Localized Support and Educational Initiatives

Trader AI’s success in Canada is rooted in its investment in region-specific support and educational resources. Recognizing that regulatory requirements and tax implications for cryptocurrencies vary significantly from country to country, the platform has implemented multiple initiatives to guide Canadian users.

1. Multi-Channel Customer Support

24/7 Live Chat: Available directly on the website, live chat is staffed around the clock by bilingual (English/French) agents trained in both technical troubleshooting and Canadian regulatory guidelines.
Toll-Free Canadian Phone Lines: Operating daily from 8 AM to 8 PM ET, dedicated support lines (1-800-IMPATH1) ensure prompt resolution of urgent issues—ranging from account access difficulties to withdrawal queries.
Email Ticketing System: For non-urgent matters, users can submit support tickets via support@immediate-path.com. Average response time is 4–6 hours on weekdays; weekend requests are addressed within 12 hours.

2. Dedicated Compliance Resources

Regulatory Updates Section: A rotating banner on the Trader AI homepage alerts users to any changes in Canadian crypto regulations—such as new FINTRAC reporting guidelines or provincial licensing requirements.
Tax Reporting Guides: Downloadable PDFs explain:
- How to classify various transactions (spot trading, staking rewards, airdrops) for CRA reporting.
- Strategies for netting gains and losses across multiple wallets and platforms—ensuring accurate portfolio-wide tax calculations.
AML & KYC Policy Disclosure: Users can review Trader AI’s anti-money-laundering protocols, including suspicious transaction reporting criteria and process flows for large withdrawals requiring enhanced due diligence.

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Safety and Security

As crypto regulatory framework continues to evolve, Trader AI remains committed to exceeding compliance standards and upholding the highest levels of security—minimizing risk for users and partners alike.

1. Data Privacy and PIPEDA Compliance

PIPEDA-Aligned Privacy Policy: Trader AI’s privacy policy explicitly references the Personal Information Protection and Electronic Documents Act (PIPEDA), ensuring that Canadian user data is collected, processed, and stored in accordance with federal requirements.
Data Residency: All Canadian user data is housed on servers located within Canadian jurisdiction (Toronto and Montreal data centers), offering additional protection under provincial data sovereignty regulations (e.g., Ontario’s provincial data residency requirements).
User Rights: Canadians retain full control over personal information—users can request access, correction, or deletion of their data at any time by contacting privacy@immediate-path.com.

2. Encryption and Infrastructure Security

End-to-End SSL/TLS Encryption: All data transmitted between user browsers and Trader AI’s servers is encrypted via AES 256-bit SSL/TLS protocols, preventing interception or tampering.
Hashed Password Storage: User passwords are stored using bcrypt with a work factor of 12, making brute-force compromises computationally infeasible.
Intrusion Detection & Multi-Tenant Segmentation: Network traffic is continuously scanned by an Intrusion Detection System (IDS). Each user’s trading environment resides within an isolated container, preventing cross-account data leaks or unauthorized lateral movement by attackers.

Comparative Performance: Backtesting and Live Results

Trader AI’s performance results—both in backtesting and real-world conditions—underscore its capability to navigate dynamic crypto landscape:

Backtesting Overview (January 2020–December 2024)

Annualized Return (Conservative Settings): 45%
- Parameters: Maximum daily drawdown capped at 2%, trades limited to 07:00–16:00 EST (peak liquidity hours), leverage ≤ 2x.
- Historical drawdown: 12% during March 2020 “Corona Crash.”
Annualized Return (Moderate Settings): 70%
- Parameters: Daily drawdown ≤ 4%, 24/7 trading, leverage ≤ 5x.
- Historical drawdown: 18% during May 2021 “Altseason Correction.”
Annualized Return (Aggressive Settings): 95%
- Parameters: Daily drawdown ≤ 6%, leverage ≤ 10x, full asset basket allocation including high-volatility DeFi tokens.
- Historical drawdown: 25% during November 2021 “Crypto Winter II.”

Metrics

Average Win Rate: 62%
Average Risk/Reward Ratio: 1:1.8
Maximum Drawdown (Conservative): 12%
Maximum Drawdown (Aggressive): 25%

Asset Coverage and Diversification Strategies

Trader AI supports a broad spectrum of digital assets, enabling traders to construct diversified portfolios that mitigate risk and capture growth across multiple sectors:

Major Cryptocurrencies
- Bitcoin (BTC): The flagship asset, receiving the highest allocation in most conservative and moderate baskets.
- Ethereum (ETH): Backbone of decentralized finance (DeFi) and smart contracts, featured prominently.
- Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Cardano (ADA): Liquid, established altcoins available for core portfolio building.
Emerging DeFi and Layer-1 Tokens
- Polkadot (DOT), Solana (SOL), Avalanche (AVAX): Rapidly scaling networks with robust ecosystems—suitable for moderate-risk allocations.
- Chainlink (LINK), Aave (AAVE), Uniswap (UNI): Leading DeFi and oracle solutions that often exhibit high volatility paired with substantial upside potential.
Metaverse and NFT-Related Tokens
- Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND): Assets tied to virtual real estate and blockchain gaming—ideal for investors seeking exposure to Web3 trends.
Stablecoin Pairs and Hedging Options
- Tether (USDT), USD Coin (USDC), Dai (DAI): Trader AI’s AI can automatically rotate capital into these stablecoins when market volatility exceeds user-defined thresholds (e.g., 10% 24-hour price swing), preserving equity during short-term drawdowns.
Sector-Specific Baskets
- “Layer 1 Champions”: Allocation across BTC, ETH, DOT, SOL, AVAX.
- “DeFi Innovators”: Allocation across LINK, AAVE, UNI, SUSHI, COMP.
- “Metaverse Mavericks”: Allocation across MANA, AXS, SAND, FLOW.

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Payments, Fees, and Account Funding

Trader AI’s commitment to transparency extends to its straightforward funding and fee model. Canadian users benefit from local payment options, minimal entry capital requirements, and no hidden subscription charges.

1. Minimum Deposit Requirement

Base Capital: USD 250 (equivalent to approximately CAD 330 at current exchange rates).
Deposit Methods for Canadians:
- Interac e-Transfer: Typical processing time of 1–2 business hours; no fees for deposits over CAD 1,000; flat CAD 20 fee for deposits ≤ CAD 1,000.
- Credit/Debit Card (Visa, Mastercard): Instant processing with a daily limit of CAD 5,000 for non-verified accounts.
- Wire Transfer: For larger capital needs (up to CAD 50,000 per transaction), processed in 1–2 business days; CAD 30 fee applies (waivable for initial deposits > CAD 10,000).
Currency Conversion: For trades executed on non-CAD pairs, an automatic 0.25% conversion margin is applied. Real-time mid-market exchange rates are displayed prior to transaction.

2. Fee Structure

Software Access: No subscription or platform fees—Trader AI’s model is “software-free,” with all platform maintenance costs absorbed by the company.
Trading Costs (Embedded Spreads):
- BTC–USD/CAD: Spreads between 0.10% and 0.20%.
- ETH–USD/CAD: Spreads between 0.12% and 0.22%.
- Major Altcoins: Spreads ranging from 0.20% to 0.40%.
- Spread rates adjust dynamically based on overall market liquidity—tightening during high-liquidity periods and widening slightly during low-liquidity windows (e.g., weekends, public holidays).
Withdrawal Fees:
- Interac e-Transfer (≤ CAD 1,000): Flat CAD 20.
- Interac e-Transfer (> CAD 1,000): No fee.
- Wire Transfer: CAD 30 (waived if account balance exceeds CAD 10,000 at time of withdrawal).
- Credit/Debit Card Refunds: If a user funded via card and requests a refund to the same card, a 2% processing fee applies to cover issuer charges.
Overnight Funding Fees: If a user employs leverage (up to 10x for aggressive strategies), an overnight interest rate of 0.03% per day is applied—transparent line-item in the trade ticket before order execution.

About Trader AI

Trader AI Inc. is a AI-driven cryptocurrency trading solutions. Founded in 2023 by a team of quantitative analysts, data scientists, and seasoned software engineers, Trader AI’s mission is to democratize algorithmic trading—making advanced, data-driven strategies accessible to investors of all experience levels.

Key Facts:

Established: 2023
Core Product: AI-powered crypto trading robot with automated and manual trading modes
Target Market: Crypto investors, ranging from first-time traders to institutional participants
Regulatory Partners: Maple Brokerage (Ontario), Victory Crypto (British Columbia)—both FINTRAC-registered

Company Vision: Trader AI seeks to empower Canadians by providing state-of-the-art AI trading tools under a fully compliant, transparent framework. By combining deep learning, robust risk management, and localized support, Trader AI aims to elevate Canada as a global hub for safe, responsible cryptocurrency trading.

Conclusion

Trader AI stands at the forefront of AI-driven cryptocurrency trading, combining cutting-edge machine learning, rigorous risk management, and a deep commitment to regulatory compliance. For both newcomers and seasoned traders, the platform offers a streamlined onboarding process, transparent fee structures, and a robust suite of tools designed to optimize performance while safeguarding capital. All users benefit from local payment integrations, bilingual support, and educational resources that demystify tax reporting and compliance requirements.

Whether you’re aiming to augment your existing strategy or take your first steps into automated crypto trading, Trader AI delivers an accessible, secure, and high-performing environment. With a proven track record of consistent returns—backed by both backtesting data and real-world results—this platform has quickly become a trusted choice for Canadian investors seeking to navigate volatile markets with confidence.

Ready to experience the power of AI-driven trading for yourself? Sign up for a free demo account and explore Trader AI’s features with CAD 10,000 in virtual funds. When you’re ready to trade live, a minimum deposit of USD 250 (approximately CAD 330) unlocks full access to all automated and manual trading modes. Discover why thousands of Canadians are turning to Trader AI to harness smarter strategies and take control of their crypto portfolios.

Forward-Looking Statements

This press release contains forward-looking statements that reflect Trader AI Inc.’s expectations regarding future events, including anticipated performance, product enhancements, and regulatory developments. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Trader AI Inc. assumes no obligation to update or revise these statements except as required by applicable law.

Visit Here to Register on the Trader AI – Select Your Country Here!!!

Media Contact

Trader AI

50 W 4th St,
New York, NY 10012, USA
Email: info@traderai.ai
Phone
AU +61284889800
UK +442038379676
Website – https://traderai.ai

General Disclaimer:
The content provided in this article is for informational and educational purposes only. It does not constitute financial, legal, or professional advice. Readers are advised to consult a certified financial advisor, licensed loan officer, or legal professional before making any financial decisions. The information presented may not apply to every individual circumstance and is not intended to substitute professional judgment or regulatory guidance. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. We does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Trading Disclaimer:
Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO’s, IEO’s, STO’s and any other form of offering will not guarantee a return on your investment.
HIGH RISK WARNING: Dealing or Trading FX, CFDs and Cryptocurrencies is highly speculative, carries a level of non-negligible risk and may not be suitable for all investors. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. Please refer to the risk disclosure below. Trader AI does not gain or lose profits based on your activity and operates as a services company. Trader AI is not a financial services firm and is not eligible of providing financial advice. Therefore, Trader AI shall not be liable for any losses occurred via or in relation to this informational website.
SITE RISK DISCLOSURE: Trader AI does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of and seek professional advice for the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in FX, CFDs and Cryptocurrencies may not be suitable for all investors. Trader AI doesn’t retain responsibility for any trading losses you might face as a result of using or inferring from the data hosted on this site.
LEGAL RESTRICTIONS: Without limiting the above mentioned provisions, you understand that laws regarding financial activities vary throughout the world, and it is your responsibility to make sure you properly comply with any law, regulation or guideline in your country of residence regarding the use of the Site. To avoid any doubt, the ability to access our Site does not necessarily mean that our Services and/or your activities through the Site are legal under the laws, regulations or directives relevant to your country of residence. It is against the law to solicit US individuals to buy and sell commodity options, even if they are called “prediction” contracts, unless they are listed for trading and traded on a CFTC-registered exchange unless legally exempt. The UK Financial Conduct Authority has issued a policy statement PS20/10, which prohibits the sale, promotion, and distribution of CFD on Crypto assets. It prohibits the dissemination of marketing materials relating to distribution of CFDs and other financial products based on
Cryptocurrencies that addressed to UK residents. The provision of trading services involving any MiFID II financial instruments is prohibited in the EU, unless when authorized/licensed by the applicable authorities and/or regulator(s). Please note that we may receive advertising fees for users opted to open an account with our partner advertisers via advertisers websites. We have placed cookies on your computer to help improve your experience when visiting this website. You can change cookie settings on your computer at any time. Use of this website indicates your acceptance of this website. Please be advised that the names depicted on our website, including but not limited to Trader AI, are strictly for marketing and illustrative purposes. These names do not represent or imply the existence of specific entities, service providers, or any real-life individuals. Furthermore, the pictures and/or videos presented on our website are purely promotional in nature and feature professional actors. These actors are not actual users, clients, or traders, and their depictions should not be interpreted as endorsements or representations of real-life experiences. All content is intended solely for illustrative purposes and should not be construed as factual or as forming any legally binding relationship
RISKS ASSOCIATED WITH FUTURES TRADING
Futures transactions involve high risk. The amount of the initial margin is low compared to the value of the futures contract, so that transactions are “leveraged” or “geared”. A relatively small market movement has a proportionately larger impact on the funds that you have deposited or have to pay: this can work both for you and against you. You may experience the total loss of the initial margin funds as well as any additional funds deposited in the system. If the market develops in a way that is contrary to your position or if margins are increased, you may be asked to pay significant additional funds at short notice to maintain your position. In this case it may also happen that your broker account is in the red and you thus have to make payments beyond the initial investment.
RISKS ASSOCIATED WITH ELECTRONIC TRADING
Before you begin carrying out transactions with an electronic system, you should carefully review the rules and provisions of the stock exchange offering the system, or of the financial instruments listed that you intend to trade, as well as your broker’s conditions. Online trading has inherent risks due to system responses/reaction times and access times that may vary due to market conditions, system performance and other factors, and on which you have no influence. You should be aware of these additional risks in electronic trading before you carry out investment transactions.
Accuracy Disclaimer:
All information included in this article is presented in good faith and believed to be accurate at the time of writing. However, no representations or warranties are made regarding the completeness, accuracy, reliability, or timeliness of any information presented. Any reliance placed on such information is strictly at the reader’s own risk. The publisher does not accept responsibility for typographical errors, outdated information, or changes to products, terms, or policies after publication.
Regulatory and Jurisdictional Disclaimer:
Lending laws vary by jurisdiction, and not all services described in this article may be available in every state or region. It is the responsibility of the reader to understand and comply with local laws and regulations. The platforms mentioned are independently operated and are not controlled or endorsed by the publisher.
Third-Party Liability Waiver:
The publisher, its writers, editors, affiliates, and syndication partners shall not be held liable for any direct or indirect loss, damages, or legal claims arising from the use of this content or from reliance on any third-party services, platforms, or products mentioned herein. All loan agreements, terms, and disputes are strictly between the borrower and the lender or service provider.
Syndication Partner Use:
This content may be republished or syndicated by authorized partners under existing licensing or distribution arrangements. All syndication partners are free from liability regarding the editorial stance, financial suggestions, or any user outcome resulting from the reading or application of this content.

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The MIL Network –

July 25, 2025

MIL-OSI: Chicken Road Game India – Play and Win Real Money By Chicken Road

Source: GlobeNewswire (MIL-OSI)

Gurugram, Haryana, July 24, 2025 (GLOBE NEWSWIRE) —

Chicken Road Game Introduced to Indian Market

The Chicken Road Game, a mobile-based casual title, has officially entered the Indian gaming space. The game, designed around a simple premise of navigating a chicken across busy roads and obstacle-filled environments, is now accessible through select digital platforms catering to mobile-first audiences.

>>> Learn More About Chicken Road Game >>>

The release comes as India continues to experience rapid growth in mobile and casual gaming, with millions of new players engaging in quick-session titles that require minimal setup or technical expertise.

>>> Learn More About Chicken Road Game >>>

Contextualising the Launch Chicken Road Game

The launch of Chicken Road Game in India coincides with a broader shift toward hyper-casual mobile games that cater to diverse user groups — from urban commuters to players in Tier 2 and Tier 3 cities. With smartphone penetration surpassing 750 million users and data costs remaining among the lowest globally, the Indian market is increasingly attractive for lightweight, instantly accessible gaming formats.

>>> Learn More About Chicken Road Game >>>

The game’s structure, based on a universally understandable “cross-the-road” mechanic, reflects the demand for entertainment that is simple to learn, playable in short intervals, and broadly accessible across demographics.

Format and Accessibility

Chicken Road Game has been released with a mobile-first approach, optimised for Android devices commonly used across India. The game’s technical requirements remain minimal, allowing smooth operation even on entry-level smartphones and in areas with limited bandwidth.

Features include:

A tap-based control system designed for short bursts of gameplay.
Randomised obstacle patterns to ensure varied playthroughs.
Lightweight installation size for users with limited device storage.

The game is accessible for free on supported platforms, with optional ad-supported modes and cosmetic enhancements offered through in-app systems.

Alignment with Casual Gaming Trends

India’s gaming landscape has shifted dramatically toward hyper-casual experiences over the last five years. Titles that can be played without prior experience or extended learning curves now represent a significant share of downloads across app marketplaces.

Chicken Road Game joins this category, offering entertainment that appeals to a broad spectrum of players — including those who may not identify as traditional gamers but engage with digital content during commutes, work breaks, or leisure time.

Industry analysts note that these formats also help introduce new players to interactive entertainment ecosystems, often serving as an entry point into mobile gaming.

Regulatory and Market Considerations

The Chicken Road Game is delivered through established digital platforms that operate within India’s existing guidelines for mobile applications. As a casual, non-real-money title, it falls outside the regulatory frameworks governing online betting and wagering, making it widely accessible across states.

Platforms distributing the game have incorporated standard user protection measures, including parental control features, to ensure suitability for varied age groups.

Industry Observations

The introduction of Chicken Road Game in India highlights the continued growth of quick-session, low-complexity mobile titles. Industry experts view these releases as a key driver for audience engagement, particularly as the country’s gaming audience expands beyond metro hubs to semi-urban and rural markets.

Developers and publishers are increasingly focused on titles that leverage simple mechanics, low data usage, and universal appeal to build sustainable player bases across diverse regions.

Conclusion

The arrival of Chicken Road Game in the Indian market reflects the ongoing evolution of digital entertainment consumption. By combining a straightforward concept with a mobile-first design, the game underscores the role of hyper-casual formats in attracting and retaining players in one of the world’s fastest-growing gaming markets.

As casual gaming continues to gain momentum, titles like Chicken Road Game represent the type of accessible entertainment that resonates with India’s mobile-first audience.

Company Name: Chicken Road

Address: 673, JMD Building, Gurugram, Haryana

Website: https://chicken-roadd.com

Email: sumit@chicken-roadd.com

Phone: +91-2049157035

Media Contact: Sumit

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Chicken Road

The MIL Network –

July 25, 2025

MIL-OSI: ETHRANSACTION Launches 2025 Guide for Newbies to Yield BTC and DogeCoin

Source: GlobeNewswire (MIL-OSI)

New York City, NY, July 24, 2025 (GLOBE NEWSWIRE) — With the evolving financial landscape, more people are adding cryptocurrencies to their portfolios. The current momentum in the crypto market has drawn in new participants eager to earn returns. However, due to a lack of experience, some newcomers face losses from uninformed decisions. That’s why smart investors are now turning to platforms like ETHRANSACTION, which offer stable returns and a smooth entry into the crypto space.

Through ETHRANSACTION’s remote digital asset earning service, users gain more reliable income streams and can quickly understand the crypto landscape, benefiting from the potential growth of Bitcoin and Dogecoin. In this article, we explore how ETHRANSACTION works, how it simplifies digital earnings, and how it can help users reach daily profits of $19,494 or more.

ETHRANSACTION’s Remote Platform:

Generating income from digital currencies no longer requires expensive hardware, technical knowledge, or constant monitoring. ETHRANSACTION simplifies the process, allowing anyone to take part, regardless of experience. Instead of investing in physical infrastructure or complex systems, users lease algorithmic resources remotely and earn a percentage of the returns.

Why Choose ETHRANSACTION?

ETHRANSACTION is ideal for beginners due to its ultra-simple, user-friendly interface. Even crypto novices can start immediately. For users, efficiency is rewarded, hands-off participation becomes the key to success.

As a global leader in digital asset solutions, ETHRANSACTION operates over 100 facilities worldwide powered entirely by renewable energy. With over 8.1 million users, the platform has built a reputation for delivering consistent returns and prioritizing user safety.

ETHRANSACTION is recognized for its exceptional daily passive income, offering opportunities to earn thousands of dollars per day. Imagine earning a strong income without active management, this is what ETHRANSACTION delivers.

Trust and security are fundamental in crypto-based earnings, and ETHRANSACTION understands this well. The platform upholds full transparency and compliance, ensuring that your capital remains protected while your profits grow. Its operations use clean energy, contributing to carbon neutrality and sustainable investment practices, offering not only high returns but also environmental responsibility.

Key Advantages of ETHRANSACTION:

Instant $19 bonus upon registration.
High earning potential with automated daily payouts.
No hidden service or maintenance fees.
Supports 7+ cryptocurrencies including DOGE, BTC, LTC, ETH, USDC, USDT, and BCH.
Affiliate program with up to 6% commission for each referral.
Enterprise-grade security: McAfee® and Cloudflare® protections, 100% uptime guarantee, and 24/7 live support.

How to Join ETHRANSACTION:

Step 1: Create an Account
Register quickly with just your email address. Once registered, users can begin earning returns from Bitcoin and other digital assets instantly.

Step 2: Select a Plan
ETHRANSACTION offers various earning packages tailored to different investment levels. Here are a few popular options:

Avalon Plan
Amount: $100 → Total Return: $100 + $18
DG Home1 Plan
Amount: $600 → Total Return: $600 + $52.5
L7 Plan
Amount: $1,300 → Total Return: $1,300 + $236.6
T21 Plan
Amount: $3,700 → Total Return: $3,700 + $1,021.2
D1 Plan
Amount: $6,300 → Total Return: $6,300 + $2,441.25

Earnings begin within 24 hours of plan activation. Once your balance reaches $100, you may withdraw to your digital wallet or reinvest in another plan of your choice.

Affiliate Program:

ETHRANSACTION’s referral program allows you to earn even without investing. Simply invite others to join. When your referrals participate, you earn up to 6% commission—unlimited referrals mean unlimited earning potential.

Summary

If you’re looking for a hands-off way to grow your crypto assets, ETHRANSACTION offers an effective solution. These types of automated opportunities are ideal for investors who prefer “autopilot” over active trading.

Passive income remains a top goal for modern investors, and ETHRANSACTION makes it easier than ever to achieve. Whether you’re just starting or scaling up, the platform is designed for reliable, secure, and eco-conscious crypto earnings.

To learn more, visit the official ETHRANSACTION website:
https://ethransaction.vip
Email: info@ethransaction.vip

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ETHRANSACTION

The MIL Network –

July 25, 2025

MIL-OSI: LPL Financial Welcomes Wyoming Asset Advisors to Linsco Channel

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, July 24, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that financial advisors Jared Black and Richard Brokaw have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Wyoming Asset Advisors Powered by LPL. They reported serving approximately $400 million in advisory, brokerage and retirement plan assets* and join LPL from Wells Fargo Advisors.

Located in Cheyenne, Wyo., the team has more than 65 years of experience and have worked together for over three decades. They are fourth and fifth generation Wyomingites. As a team, they use each other as a sounding board to discuss market conditions and expectations.

Together, they provide comprehensive investment advice to a wide range of clients, the majority of which are in retirement. They believe every client is unique and they have a financial philosophy of honesty, responsiveness and knowledge.

“I think our approach speaks for itself. Overall, it’s a matter of having the understanding and the knowledge to structure our clients’ portfolios for the most beneficial outcomes,” said Brokaw. “To ensure happy clients, it’s all about service and communication.”

Why Wyoming Asset Advisors made the move to Linsco by LPL

Looking to have more autonomy and flexibility, Black and Brokaw turned to LPL Financial for the next chapter of their business. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team, dedicated marketing consultant and other resources that allow advisors to focus on their clients.

“At the end of the day, it was the ethos of LPL and their view of us as clients, along with their commitment to supporting me and my clients, that made the move to LPL make sense for us,” said Black. “The biggest catalyst was their perspective on the relationship. I still own my relationship with the clients, but now I have increased capacity to serve them.”

Scott Posner, LPL Managing Director, Business Development, said, “We welcome Jared and Richard to the Linsco community. LPL is committed to providing flexibility and equipping advisors with sophisticated capabilities to continue to provide the best client experience. We look forward to supporting the team for years to come.”

Related
Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2024.

Media Contact:
Media.relations@LPLFinancial.com

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