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Category: GlobeNewswire

  • MIL-OSI: Alpine Banks of Colorado announces financial results for first quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    GLENWOOD SPRINGS, Colo., April 30, 2025 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the first quarter ended March 31, 2025. The Company reported net income of $14.3 million, or $133.99 per basic Class A common share and $0.89 per basic Class B common share, for first quarter 2025.

    Highlights in first quarter 2025 include:

    • Basic earnings per Class A common share increased 3.9%, or $5.07, during first quarter 2025.
    • Basic earnings per Class A common share increased 36.3%, or $35.67, compared to first quarter 2024.
    • Basic earnings per Class B common share increased 3.9%, or $0.03, during first quarter 2025.
    • Basic earnings per Class B common share increased 36.3%, or $0.23, compared to first quarter 2024.
    • Net interest margin for first quarter 2025 was 3.38%, compared to 3.18% in fourth quarter 2024, and 2.81% in first quarter 2024.

    “We are pleased with the start to 2025 as shown in our first quarter 2025 financial performance,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Customer deposit growth continued, led by a strong winter season in our resort markets. Additionally, we saw our loan portfolio totals begin growing again following a slow 2024. Net income increased 35% from the first quarter 2024. During first quarter 2025 we launched Mission Possible: Operation Streamline, our initiative to simplify and streamline operations. We anticipate modules of Mission Possible: Operation Streamline to continue through 2027.”

    Net Income

    Net income for first quarter 2025 and fourth quarter 2024 was $14.3 million and $13.8 million, respectively. Interest income decreased $0.7 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in yields on balances due from banks, decreased volume in the securities portfolio and two fewer days in the quarter. These decreases were slightly offset by increases in yields on the loan and securities portfolios and increases in volume in the loan portfolio and balances due from banks. Interest expense decreased $3.2 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These increases were partially offset by a decrease in volume of deposits. Noninterest income decreased $0.8 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in earnings on bank‐owned life insurance and service charges on deposit accounts, partially offset by increases in other income. Noninterest expense increased $0.8 million in first quarter 2025 compared to fourth quarter 2024, due to increases in salary and employee benefit expenses and occupancy expenses, slightly offset by decreases in furniture and fixture expenses and other expenses. A provision for loan losses of $1.8 million was recorded in first quarter 2025 compared to a $1.5 million provision for loan losses recorded in the fourth quarter 2024.

    Net income for the three months ended March 31, 2025, and March 31, 2024, was $14.3 million and $10.6 million, respectively. Interest income increased $3.2 million in first quarter 2025 compared to first quarter 2024, primarily due to increases in volume in the loan portfolio and balances due from banks, along with increases in yields on the loan portfolio, the securities portfolio, and balances due from banks. These increases were slightly offset by a decrease in volume in the securities portfolio and a decrease in yield on the balances due from banks. Interest expense decreased $4.9 million in first quarter 2025 compared to first quarter 2024, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These decreases were partially offset by an increase in the volume of deposit balances. Noninterest income increased $1.1 million in 2025 compared to 2024, primarily due to increases in earnings on bankowned life insurance, service charges on deposit accounts, and other income. Noninterest expense increased $2.2 million in 2025 compared to 2024, due to increases in other expenses, salary and employee benefit expenses, and occupancy expenses, partially offset a decrease in furniture and fixtures expenses, Provision for loan losses increased $2.5 million in the three months ended March 31, 2025 due to loan portfolio increases and a small volume of loan charge‐offs, compared to the three months ended March 31, 2024.

    Net interest margin increased from 3.18% to 3.38% from fourth quarter 2024 to first quarter 2025. Net interest margin for the three months ended March 31, 2025, and March 31, 2024, was 3.38% and 2.81%, respectively.

    Assets

    Total assets increased $139.7 million, or 2.1%, to $6.64 billion as of March 31, 2025, compared to December 31, 2024, primarily due to increased cash and due from banks and loans receivable partially offset by decreased investment securities balances. The Alpine Bank Wealth Management* division had assets under management of $1.32 billion on March 31, 2025, compared to $1.37 billion on December 31, 2024, a decrease of 3.8%.

    Loans

    Loans outstanding as of March 31, 2025, totaled $4.1 billion. The loan portfolio increased $66.0 million, or 1.6%, during first quarter 2025 compared to December 31, 2024. This increase was driven by a $48.6 million increase in real estate construction loans, a $22.3 million increase in commercial real estate loans and a $1.7 million increase in consumer loans. This increase was slightly offset by a $3.4 million decrease in residential real estate loans and a $3.1 million decrease in commercial and industrial loans.

    Loans outstanding as of March 31, 2025, reflected an increase of $96.5 million, or 2.4%, compared to loans outstanding of $4.0 billion on March 31, 2024. This growth was driven by a $63.4 million increase in commercial real estate loans, a $30.4 million increase in real estate construction loans and a $7.8 million increase in consumer loans. This increase was slightly offset by a $3.4 million decrease in commercial and industrial loans and a $2.0 million decrease in residential real estate loans.

    Deposits

    Total deposits increased $118.0 million, or 2.0%, to $5.9 billion during first quarter 2025 compared to December 31, 2024, primarily due to a $104.5 million increase in money market accounts, a $74.2 million increase in demand deposits, a $27.2 million increase in interest‐bearing checking accounts, and a $1.9 million increase in savings accounts. This increase was partially offset by a $89.8 million decrease in certificate of deposit accounts. Brokered certificates of deposit decreased 24.5% to $185.0 million on March 31, 2025, compared to $245.0 million on December 31, 2024. Noninterest‐bearing demand accounts comprised 30.8% of all deposits on March 31, 2025, compared to 30.2% on December 31, 2024.

    Total deposits of $5.94 billion on March 31, 2025, reflected an increase of $27.0 million, or 0.5%, compared to total deposits of $5.91 billion on March 31, 2024. This increase was due to a $278.1 million increase in money market accounts, a $26.8 million increase in demand deposits and a $10.2 million increase in interest‐bearing checking accounts. This increase was partially offset by a $275.6 million decrease in certificate of deposit accounts and a $12.5 million decrease in savings accounts. Brokered certificates of deposit decreased 60.7% to $185.0 million on March 31, 2025, compared to $470.7 million on March 31, 2024. Noninterest‐bearing demand accounts comprised 30.8% of all deposits on March 31, 2025, compared to 30.5% on March 31, 2024.

    Capital

    The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceed the minimum requirements for this designation. As of March 31, 2025, the Bank’s Tier 1 Leverage Ratio was 9.76%, Tier 1 Risk‐Based Capital Ratio was 14.13%, and Total Risk‐Based Capital Ratio was 15.28%. On a consolidated basis, the Company’s Tier 1 Leverage Ratio was 9.46%, Tier 1 Risk‐Based Capital Ratio was 13.69%, and Total Risk‐Based Capital Ratio was 15.92% as of March 31, 2025.

    Book value per share on March 31, 2025, was $4,940.82 per Class A common share and $32.94 per Class B common share, an increase of $204.63 per Class A common share and $1.37 per Class B common share from December 31, 2024.

    Amended and Restated Articles of Incorporation

    On April 10, 2025, the shareholders of Alpine approved amended and restated articles of incorporation to affect the following actions, among other things:

    • Increase from 15,100,000 to 30,000,000 the total authorized shares of common stock that the Company is authorized to issue;
    • Increase from 100,000 to 15,000,000 the authorized shares of the Class A common stock;
    • Effect a forward stock split of the outstanding shares of the Class A common stock by a ratio of 150‐for‐one;
    • Provide that holders of Class A common stock and Class B common stock shall be entitled to share equally, on a per share basis based upon the number of shares issued and outstanding, in dividends and other distributions;
    • Provide that each one share of Class B common stock shall be entitled to one vote;
    • Provide that each one share of Class A common stock shall be entitled to twenty votes;
    • Provide that unless otherwise required by law the Class A common stock and Class B common stock will vote together as a single class on all matters, including the election of directors;
    • Provide that a majority of the total voting power of the outstanding shares of common stock entitled to vote shall constitute a quorum at any meeting of shareholders; and
    • Provide that the approval of certain corporate actions requires the approval of more than 66 2/3% of the voting power of the outstanding shares of common stock entitled to vote.

    Alpine anticipates that the amended and restated articles of incorporation and related stock split of the Class A common stock will become effective on May 1, 2025.

    Additional information can be found in the proxy materials for our 2025 Annual Meeting of Stockholders at www.alpinebank.com/who‐we‐are/investor‐relations.html.

    Dividends

    During first quarter 2025, the Company paid cash dividends of $31.50 per Class A common share and $0.21 per Class B common share. On April 10, 2025, the Company declared cash dividends of $31.50 per Class A common share and $0.21 per Class B common share payable on April 28, 2025, to shareholders of record on April 21, 2025.

    About Alpine Banks of Colorado

    Alpine Banks of Colorado, is a $6.7 billion, independent, employee‐owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five‐star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B non‐voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.

    *Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.

    Contacts: Glen Jammaron Eric A. Gardey
      President and Vice Chairman Chief Financial Officer
      Alpine Banks of Colorado Alpine Banks of Colorado
      2200 Grand Avenue 2200 Grand Avenue
      Glenwood Springs, CO 81601 Glenwood Springs, CO 81601
      (970) 384‐3266 (970) 384‐3257


    A note about forward‐looking statements

    This press release contains “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward‐looking statements include, but are not limited to, statements we make regarding our evaluation of macro‐environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward‐looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward‐looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward‐looking statements. We caution you therefore against relying on any of these forward‐looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward‐looking statement include, but are not limited to:

    • The ability to attract new deposits and loans;
    • Demand for financial services in our market areas;
    • Competitive market‐pricing factors;
    • Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
    • Effects of future economic, business and market conditions, including higher inflation;
    • Adverse effects of public health events, such as the COVID‐19 pandemic, including governmental and societal responses;
    • Deterioration in economic conditions that could result in increased loan losses;
    • Actions by competitors and other market participants that could have an adverse impact on expected performance;
    • Risks associated with concentrations in real estate‐related loans;
    • Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
    • Market interest rate volatility, including changes to the federal funds rate;
    • Stability of funding sources and continued availability of borrowings;
    • Geopolitical events, including global tariffs, acts of war, international hostilities and terrorist activities;
    • Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
    • Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
    • Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
    • Any increases in FDIC assessments;
    • Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
    • The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
    • Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
    • The ability to recruit and retain key management and staff;
    • The ability to raise capital or incur debt on reasonable terms; and
    • Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.

    There are many factors that could cause actual results to differ materially from those contemplated by forward‐looking statements. Any forward‐looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    https://alpinebank.kcmspreview.com/_/kcms-doc/1507/91579/Alpine-Banks-of-Colorado-Consolidated-Financial-Statements-3.31.25.pdf

    Contact: Eric A. Gardey, Chief Financial Officer
      Alpine Banks of Colorado
      (970) 384‐3257
      ericgardey@alpinebank.com

    The MIL Network –

  • MIL-OSI: Pushpay’s 2025 State of Church Tech Report Reveals Digital Tools are Strengthening Faith, Fueling Connection, and Shaping the Future of Ministry

    Source: GlobeNewswire (MIL-OSI)

    REDMOND, Wash., April 30, 2025 (GLOBE NEWSWIRE) — Pushpay, the leading payments and engagement solutions provider for mission-driven organizations, today released findings from its 2025 State of Church Technology report. The study, which this year is presented in partnership with Engiven and Checkr, reveals that a majority of U.S. church leaders believe technology is playing a vital role in enhancing connection within their communities (86%).

    As church leaders look for ways to foster authentic relationships and spiritual growth, many are recognizing the power of digital tools to connect with their communities in lasting, transformative ways. Amid the loneliness epidemic, Pushpay’s report reveals that churches are four times more likely to say technology reduces loneliness than increases it, underscoring the vital role digital tools play in fostering community. Live streaming in particular has emerged as a key driver of engagement, with 86% of surveyed leaders agreeing that this service enhances both participation and discipleship.

    Conducted in February 2025, the fourth annual benchmark study offers a comprehensive look at the current usage, considerations, and barriers leaders face when embracing new technology, and forecasts what will remain strategically important as churches plan for the future of ministry. These insights are derived from the responses of more than 1,700 church leaders across the country, all of whom are actively leveraging technology to cultivate meaningful connections.

    “This year’s State of Church Tech report offers more than just statistics and data—it’s a window into the evolving mindset of church leaders,” said Kenny Wyatt, Pushpay CEO. “We see overwhelming consensus that technology plays a critical role in ministry, and I’m encouraged by the way churches are approaching it. More and more leaders view these tools as an avenue to enhance, not replace, the human relationships that are so central to the Church.”

    AI Adoption Surges Across Ministries

    According to the report, 45% of church leaders currently use AI, up 80% compared to last year’s findings, reflecting that the use of AI in church operations has moved from early-adopter to mainstream status. 45% of leaders also believe that generative AI tools will be strategically important to their ministry over the next two to three years.

    While use cases vary, the majority of churches are using AI to improve operational efficiency, and over 40% of respondents cite applications like generating and editing emails, social media content, and imagery. However, hesitancy remains when it comes to using AI to create theological content, with fewer than 25% leveraging the tool to create sermons or devotionals. As AI becomes more integrated, churches remain rooted in spiritual guidance.

    Live Streaming Momentum Remains, Placing Value in High-End Viewer Experiences

    Eighty seven percent of churches have continued to stream their worship services. While the pandemic made streaming a necessity for churches worldwide, this powerful solution for connecting with online viewers hasn’t waned in popularity for the majority, only seeing a slight dip from 2022 which was the peak of livestream adoption (91%). This year’s findings also signal that churches are placing more value in high-end streaming and hosting solutions. Churches are also expanding video delivery through in-app players, a 6% increase over the previous year.

    Additional Findings from the 2025 Report:

    • 70% of church leaders say technology has increased generosity within their congregation.
    • Communication remains the top challenge ministry leaders hope technology can better address, cited by 51% of respondents.
    • Only 10% of churches indicated they are leveraging cryptocurrency today—however, 39% of church leaders believe cryptocurrency will be strategically important to their church in the next two to three years, which is a 44% increase from last year.
    • Church management software (ChMS) adoption rose 4% year over year, with 86% of churches now using ChMS. Mobile app adoption also increased, with 67% of churches using an app, up 2% from last year.
    • Concerns about the financial cost of adopting new technology fell 9%—the first reported decline since the report’s inception.
    • More than half (52%) of church leaders reported an increase in their technology budgets, while just 10% reported a decrease.

    Younger Generations Drive Engagement Growth

    Church engagement has shown signs of stabilization for the first time in over a decade, driven largely by Millennials and Gen Z. Millennials are twice as likely to join a church that prioritizes technology as part of its mission, highlighting the need to meet younger generations in the digital spaces where they already live and connect. According to Pew Research’s latest Religious Landscape Study (RLS), after years of a steady decline, Christianity in the U.S. has flattened, with 62% of Americans identifying as Christian. Pushpay’s report further supports this trend, with 46% of churches reporting increased engagement among Millennials, followed by Gen Z (39%) and Gen X (32%).

    “For the next generation, faith isn’t just preached—it’s played, practiced, and posted. When churches embrace technology like gamification and immersive learning, we’re not just reaching Gen Z—we’re discipling them in their native language,” said Justin Lester, Senior Pastor at Friendship Missionary Baptist Church, and a panelist on Pushpay’s upcoming State of Church Tech webinar.

    Pushpay will host a 2025 State of Church Tech webinar live on Wednesday, May 21, at 10 a.m. PT, featuring industry experts Justin Lester, Senior Pastor at Friendship Missionary Baptist Church, Joel Stepanek of the National Eucharistic Congress, and Church communications consultant Katie Allred. They will share insights on the report findings and discuss what they mean for the future of the Church. To join, register online, or to access the full report, visit www.pushpay.com.

    About Pushpay
    Pushpay empowers mission-based organizations to engage their communities. We exist to bring people together and help people be known. Through our innovative suite of products, we cultivate generosity by streamlining donation processes, enhancing communication, and strengthening connection. Whether managing donations, organizing events, or connecting with community members, Pushpay’s integrated tools enable ministry leaders to focus on what matters most – growing their ministry and deepening engagement. For more information visit www.pushpay.com.

    About Engiven
    Engiven is a leading provider of non-cash giving solutions to public charities, faith-based organizations, universities, financial institutions, and donation platforms. The Engiven platform and developer tools enable highly secure and automated cryptocurrency and stock-giving methodologies which help organizations maximize their giving opportunities. For more information visit https://engiven.com.

    About Checkr
    Checkr is the data platform that powers safe and fair decisions. We’re a technology company that helps our customers assess risk, modernize hiring, and cultivate trusted relationships in their workplaces and communities. For more information, visit https://checkr.com.

    US Media / PR Contact: Chelsea Looney PR@pushpay.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/738b9119-4423-45d3-8b94-60d103d4d8cf

    The MIL Network –

  • MIL-OSI: Flywire and Avanse Financial Services Announce Strategic Partnership to Digitize Student Loan Disbursements from India

    Source: GlobeNewswire (MIL-OSI)

    Integrated solution enables Flywire to unlock new payment flows from India to academic destinations worldwide

    Flywire further expands footprint in India, capitalizes on the billions of dollars of payment volume from education loans

    BOSTON and MUMBAI, India, April 30, 2025 (GLOBE NEWSWIRE) — Flywire Corporation (Nasdaq: FLYW) (Flywire), a global payments and enablement and software company, today announced its strategic partnership with Avanse Financial Services, India’s second-largest education-focused non-banking financial company (NBFC). The collaboration simplifies the process of disbursing education loan payments for Indian students pursuing education opportunities abroad. The collaboration helps Flywire capitalize on tuition loan disbursements initiated by Avanse in Indian Rupees (INR) and builds on Flywire’s existing banking and loan integrations in India. The solution is available immediately and supports payment flows from India to academic destinations worldwide.

    Through this integration, Flywire streamlines the entire payments experience for students who opt to get educational loans from Avanse. After loan approval, students process payments via Flywire entirely in Indian rupees, with the ability to monitor transactions until funds reach their university. Flywire ensures transparency over all loan disbursements, facilitates efficient refunds, and automates the complex Tax Collected at Source (TCS) calculations—ultimately saving both students and providers valuable time and resources while ensuring adherence to relevant tax guidelines.

    “We’re excited to collaborate with Avanse to enhance the process of student loan disbursements from India,” commented Mina Fakhouri, SVP, APAC & Global Agents at Flywire. “The combination of Avanse’s presence in India and Flywire’s innovative payment technology addresses a crucial market gap for both students and lending institutions. India remains an important market for Flywire, and we’re excited to work together to deliver value to our partners, payers, educational institutions and beyond.”

    Additional benefits of the integration between Flywire and Avanse are expected to include:

    • Competitive foreign exchange conversion rates for students
    • Providing transparent payment tracking for students, schools and financial institutions
    • Enhancing compliance with international banking regulations
    • Managing TCS calculations for payments
    • Simplifying the documentation requirements for both students and institutions

    Rajesh Kachave, Chief Business Officer – Student Lending International Business of Avanse Financial Services, commented: “We believe in providing a holistic education financing experience. This collaboration with Flywire will create compelling and sustaining value for our customers, enabling them to focus entirely on their academics while leaving the financial complexities to us.”

    About Flywire

    Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

    Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

    Flywire supports more than 4,500 clients with diverse payment methods in more than 140 currencies across more than 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X , LinkedIn and Facebook.

    About Avanse Financial Services
    Avanse Financial Services Limited is an education-focused non-banking financial company (NBFC) on a mission to provide seamless and affordable education financing for every deserving Indian student. The company offers loans across three key segments:

    Student Loan – International – Customized education financing solutions for Indian students pursuing undergraduate & postgraduate courses overseas
    Education Loans Domestic – Customized financing solutions for Indian students seeking higher education at domestic institutions. It also includes loans for professionals engaging in executive learning programs, as well as financing for both curriculum fees for students enrolled in accredited schools and non-curriculum fees associated with skilling programs, executive education, and test preparation courses, all in India.
    Educational Institution Loans – Collateral-backed financing solutions to private educational institutions, generally K-12 schools, located in peripheral areas of tier I cities and in tier II and beyond cities in India. For more information, please click here.

    Safe Harbor Statement

    This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s expectations regarding the benefits of its education clients and business, Flywire’s business strategy and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire’s Annual Report on Form 10-K for the year ended December 31, 2024, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Contacts

    Flywire

    Media:
    Sarah King
    Media@Flywire.com

    Investor Relations:
    Masha Kahn
    IR@Flywire.com

    Avanse Financial Services
    Koeli Dutta | Lead – Corporate Communication & Content
    Mobile: +91 8879330544
    Email ID: koeli.dutta@avanse.com   

    The MIL Network –

  • MIL-OSI: Disposal of own shares based on performance share plan of Siili Solutions Plc

    Source: GlobeNewswire (MIL-OSI)

    Disposal of own shares based on performance share plan of Siili Solutions Plc

    Siili Solutions Plc Stock Exchange Release 30 April 2025 at 15:30 EEST

    A total of 27 256 of Siili Solutions Plc’s treasury shares are conveyed without consideration and according to the plan terms to the key employees participating in the Performance Share Plan 2022 – 2024. More details of this Performance Share Plan have been announced in a stock exchange release issued on 17 December 2021.

    The directed share issue is based on an authorization given by the Annual General Meeting held on 3 April 2024.

    Following the directed share issue, the number of treasury shares now stands at 698 shares. 

    SIILI SOLUTIONS PLC

    Board of Directors

    For more information, please contact:

    Taru Kovanen, General Counsel
    Phone: 040 4176 221 
    Email: taru.kovanen(at)siili.com 

    Distribution:
    Nasdaq Helsinki Ltd
    Main media
    www.siili.com/fi

    Siili Solutions in brief:

    Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. www.siili.com

    The MIL Network –

  • MIL-OSI: Turbo Energy Partners with Chilean Utility Saesa to Expand Smart Battery Storage Systems in Latin America

    Source: GlobeNewswire (MIL-OSI)

    VALENCIA, Spain, April 30, 2025 (GLOBE NEWSWIRE) — Turbo Energy S.A. (Nasdaq: TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, has teamed with Saesa, one of Chile’s largest electric utilities, to expand the deployment of smart battery systems across the Andean country.

    This partnership marks a significant step forward in Turbo Energy’s expansion into Latin America, resulting in the completion of the companies’ first joint project— the installation of a smart battery energy storage system (BESS) at the headquarters of Bayas del Sur, a leading berry producer in southern Chile.

    The project integrates lithium batteries with 200 kW of power and 880 kWh of storage capacity. Designed to complement Bayas del Sur’s existing photovoltaic installation, the system enables the plant to optimize energy consumption, reduce fuel dependence and maintain operations during peak demand periods or grid outages.

    “The commissioning of this project for Bayas del Sur reflects a growing trend among companies across all sectors: the search for effective solutions that ensure stable and sustainable energy flow while mitigating market price volatility,” said Mariano Soria, Chief Executive Officer of Turbo Energy. “Working alongside a utility giant like Saesa gives Turbo Energy a strong foundation to deploy smart BESS solutions for Chile’s most forward-thinking companies — a key driver behind the region’s desired economic decarbonization objectives.”

    Saesa executives emphasized the importance of the project in advancing renewable energy and supporting industrial decarbonization in Chile. “Our collaboration with Turbo Energy represents a pivotal advancement in sustainable infrastructure for southern Chile,” said Camila Trujillo, Energy Manager at Saesa Innova. “By integrating intelligent solar storage solutions, we’re not only improving grid reliability for industrial clients like Bayas del Sur, but also reinforcing our commitment to cleaner, smarter energy systems that benefit both businesses and communities across our nation.”

    The project with Saesa closely follows Turbo Energy’s entry into the Chilean market. In March 2025, the Company launched Latin America’s first, fully integrated, end-to-end solar energy storage system at the Alto Labranza shopping center, marking the debut of its new business unit, Turbo Energy Solutions. The division focuses on photovoltaic generation, energy storage and smart energy management for the commercial and industrial sectors across Latin America.

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:
    At Turbo Energy, S.A.                                                                          
    Dodi Handy, Director of Communications                            
    Phone: 407-960-4636                                                                          
    Email: dodihandy@turbo-e.com

    The MIL Network –

  • MIL-OSI: SAIC and Bluescape Announce Strategic Partnership to Deliver Secure, Mission-Critical Operations Platform

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., April 30, 2025 (GLOBE NEWSWIRE) — Science Applications International Corp. (NASDAQ: SAIC) – a mission integrator for delivering advanced technology solutions to the government – announced today that it has established a strategic partnership with Bluescape® – a collaborative operations platform – to bring a commercially-developed, unlimited virtual workspace to the Department of Defense (DoD), space, intelligence and civilian agencies. The innovative alliance delivers Bluescape’s best-in-class, dual-use technology for today’s critical national security missions to SAIC’s vast ecosystem.

    Through the alliance, SAIC will seamlessly integrate Bluescape’s government-compliant unlimited virtual workspace to securely bring data, individuals and applications together for knowledge sharing, visual planning, data analysis and effective mission coordination. The platform is authorized to operate at FedRAMP Moderate+ and by the DoD at IL4/IL5 for CUI data – empowering dispersed teams to share, organize, and interact with critical intel for accelerated decision advantage and response times.

    More than just a collaboration tool, Bluescape is a trusted, secure and scalable collaborative operations platform that creates a common operating picture by unifying teams and information streams, providing a centralized, visual workspace for real-time collaboration, information sharing and decision-making. It provides a highly secure, virtual workspace for exchanging information, integrating mission applications and producing content jointly. Bluescape is a commercial platform that enables warfighters and decision-makers to deliver mission outcomes. It can be used across enterprise IT systems, operational forces and interagency or mission partners.

    “Today’s warfighters and intelligence community decision-makers face a myriad of complex national security challenges that continually reinforce the imperative need for advanced, secure and efficient solutions,” said Bob Ritchie, SAIC Chief Technology Officer. “Combining Bluescape’s secure and collaborative insight platform with SAIC’s mission-oriented commercial delivery provides the adaptability, speed and decision advantage our government customers require.”

    “Bluescape enhances every aspect of mission command and coordinated response. It can accommodate large-scale government organizations and the ability to onboard thousands of users simultaneously,” explained Norm Litterini, Vice President of Public Sector Channels and Partners for Bluescape. “It eliminates the “place problem” that can be a challenge in mission partner environments and across dispersed workforces.”

    Bluescape workspaces are persistent and repeatable, so the information and actions taken remain intact after a meeting concludes, providing an automatic record of how decisions were made to jump-start future project work. The platform also allows for the use of existing processes and tools under one secure environment – eliminating the need for a complete overhaul and delay in operations.

    About SAIC
    SAIC® is a premier Fortune 500 mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.

    We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

    Media Contact
    Caralyn Duke
    Caralyn.duke@saic.com

    Forward-Looking Statements
    Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

    About Bluescape
    Bluescape is the mission-ready visual workplace. Bluescape empowers distributed teams with easy-to-use tools to bring agility to complex processes—eliminating miscommunications, missed deadlines, and wasted time. Available as both FedRAMP authorized cloud solution and air-gapped software, Bluescape is built for the security needs of the public sector. Customers include Fortune 100 companies and government agencies. Bluescape is headquartered in Chicago, IL. For more information on how Bluescape drives innovation and transformation in government and commercial organizations, visit bluescape.com. Follow us on LinkedIn.

    Media Contact
    Josette Oder Moynihan
    Josette.moynihan@bluescape.com

    The MIL Network –

  • MIL-OSI: Red River Bancshares, Inc. Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ALEXANDRIA, La., April 30, 2025 (GLOBE NEWSWIRE) — Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the first quarter of 2025.

    Net income for the first quarter of 2025 was $10.4 million, or $1.52 per diluted common share (“EPS”), an increase of $1.0 million, or 11.2%, compared to $9.3 million, or $1.37 EPS, for the fourth quarter of 2024, and an increase of $2.2 million, or 26.4%, compared to $8.2 million, or $1.16 EPS, for the first quarter of 2024. For the first quarter of 2025, the quarterly return on assets was 1.32%, and the quarterly return on equity was 12.85%.

    First Quarter 2025 Performance and Operational Highlights

    The Company had solid financial results for the first quarter of 2025. The net interest margin, net interest income, and net income increased. The balance sheet reflects good loan growth, while deposits and assets had slight increases. We increased the quarterly cash dividend paid to shareholders by 33.3% to $0.12 per share for the first quarter of 2025. Also, in the first quarter, we completed significant upgrades to our digital banking systems.

    • Net income for the first quarter of 2025 was $10.4 million, which was $1.0 million, or 11.2%, higher than the prior quarter. Net income for the first quarter increased due to having higher net interest income, along with approximately $620,000 of periodic items that reduced operating expenses. These operating expense reductions benefited EPS by approximately $0.07.
    • Net interest income and net interest margin FTE increased for the first quarter of 2025 compared to the prior quarter. Net interest income for the first quarter of 2025 was $24.6 million, which was $923,000, or 3.9%, higher than the prior quarter. Net interest margin FTE increased 13 basis points (“bp(s)”) to 3.22% for the first quarter of 2025, compared to 3.09% for the prior quarter. These improvements resulted from higher securities yields and lower deposit rates.
    • As of March 31, 2025, assets were $3.19 billion, which was $36.8 million, or 1.2%, higher than December 31, 2024. The increase was mainly due to a $20.6 million increase in deposits.
    • Deposits totaled $2.83 billion as of March 31, 2025, an increase of $20.6 million, or 0.7%, compared to $2.81 billion as of December 31, 2024. This increase was mainly due to higher balances in consumer and commercial customer deposit accounts, partially offset by the seasonal outflow of funds from public entity customers.
    • As of March 31, 2025, loans held for investment (“HFI”) were $2.11 billion, which was $39.7 million, or 1.9%, higher than $2.08 billion as of December 31, 2024. In the first quarter of 2025, we had steady new loan closing activity, combined with funding of loan construction commitments.
    • As of March 31, 2025, total securities were $699.5 million, which was $14.7 million, or 2.1%, higher than December 31, 2024. Securities increased mainly due to the purchase of new securities, combined with a smaller net unrealized loss on securities available-for-sale (“AFS”).
    • As of March 31, 2025, liquid assets, which are cash and cash equivalents, were $252.2 million, and the liquid assets to assets ratio was 7.91%. We do not have any borrowings, brokered deposits, or internet-sourced deposits.
    • The provision for credit losses was $450,000 for the first quarter of 2025, compared to $300,000 for the prior quarter. The $150,000 increase was due to loan growth and uncertainty regarding tariffs and trade.
    • As of March 31, 2025, nonperforming assets (“NPA(s)”) were $5.2 million, or 0.16% of assets, and the allowance for credit losses (“ACL”) was $21.8 million, or 1.03% of loans HFI.
    • In the first quarter of 2025, the quarterly cash dividend increased by 33.3% to $0.12 per common share, up from $0.09 per common share for each quarter in 2024.
    • The 2025 stock repurchase program authorizes us to purchase up to $5.0 million of our outstanding shares of common stock from January 1, 2025 through December 31, 2025. As of March 31, 2025, the 2025 stock repurchase program had $5.0 million of available capacity.
    • In the first quarter of 2025, Red River Bank’s online, mobile banking, and bill payment systems were upgraded in order to improve our digital services for all customers.
    • In the first quarter of 2025, S&P Global Market Intelligence ranked the Bank 14th of the top 50 best deposit franchises in 2024 for banks with assets between $3.0 and $10.0 billion.
    • On March 14, 2025, our board of directors and executive management had the privilege of ringing the closing bell at the Nasdaq Market Site in New York to commemorate being a public company for 6 years.

    Blake Chatelain, President and Chief Executive Officer, stated, “We are pleased with the financial results for the first quarter of 2025. We produced solid net interest margin improvement, higher net income, and positive, relationship-based core loan growth. As a result of consistent earnings, strong capital levels, and confidence in our consistent and conservative banking culture, the board of directors approved a 33.3% increase to the quarterly cash dividend for the first quarter of 2025 to $0.12 per share.

    “We continue to be very focused on net interest margin improvement and managing our cost of deposits, while also focusing on redeploying assets into higher yielding assets. In the first quarter of 2025, our net interest margin FTE increased by 13 bps, net interest income increased by 3.9%, and net income increased by 11.2%.

    “We remain pleased with the level of our customer banking activity across Louisiana. We are focused on adding experienced relationship bankers and growing our presence in our newer markets. Recently there has been expanded emphasis and renewed efforts on economic development in Louisiana. This has resulted in various new and significant corporate expansion announcements for new projects throughout the state. Overall, as of March 31, 2025, our customers seem optimistic about economic activity and growth.

    “Despite this optimism, as result of the April 2, 2025 announcements and changes to the United States tariff policy, we are assessing the possible impact to our customers and the Company. These changes have injected new uncertainty into the economic environment and could result in a slowdown in activity, higher inflation, and a loss of consumer confidence. We are monitoring this situation with our customers as these events unfold. We are hopeful that these policies will be settled quickly and with minimal, negative impact.

    “Since the Company was founded in 1998, we have focused on having a consistent, conservative, and prudent banking philosophy and strategy. We remain focused on these principles, while also striving daily to build customer relationships, expand market share, and create value for our shareholders.”

    Net Interest Income and Net Interest Margin FTE

    Net interest income and net interest margin FTE increased in the first quarter of 2025 compared to the prior quarter. These measures were both primarily impacted by improved yields on securities and lower deposit rates. The Federal Open Market Committee (“FOMC”) decreased the federal funds rate by 50 bps in September of 2024, and by an additional 50 bps during the fourth quarter of 2024, and then kept the federal funds rate consistent in the first quarter of 2025.

    Net interest income for the first quarter of 2025 was $24.6 million, which was $923,000, or 3.9%, higher than the fourth quarter of 2024, due to a $178,000 increase in interest and dividend income, combined with a $745,000 decrease in interest expense. The increase in interest and dividend income was mainly due to higher interest income on securities. Securities income increased $233,000, primarily due to reinvesting lower yielding securities cash flows into higher yielding securities. The decrease in interest expense was primarily due to lower rates on time deposits.

    The net interest margin FTE increased 13 bps to 3.22% for the first quarter of 2025, compared to 3.09% for the prior quarter. This increase was due to improved yields on securities and loans, combined with lower deposit costs. The yield on securities increased 11 bps, primarily due to reinvesting lower yielding securities cash flows into higher yielding securities. The yield on loans increased 7 bps due to higher rates on new and renewed loans compared to the existing portfolio yield. The average rate on new and renewed loans was 7.02% for the first quarter of 2025 and 7.25% for the prior quarter. The cost of deposits decreased 10 bps to 1.61% for the first quarter of 2025, compared to 1.71% for the previous quarter, mainly due to lowering selected time deposit rates. As a result of this change, there was a 37 bp decrease on time deposits during the first quarter.

    The FOMC kept the federal funds rate consistent in the first quarter of 2025, with the target federal funds range remaining at 4.25%-4.50%. The market’s expectation is that the FOMC may lower the target range of the federal funds rate several times in 2025. During the remainder of 2025, we anticipate receiving approximately $80.0 million in securities cash flows with an average yield of 3.28%, and we project approximately $162.2 million of fixed rate loans will mature with an average yield of 6.15%. We expect to redeploy these balances into slightly higher yielding assets. Additionally, during the second quarter of 2025, we expect $253.6 million of time deposits to mature with an average rate of 4.06%, which we anticipate repricing into slightly lower cost deposits. As of March 31, 2025, floating rate loans were 17.6% of loans HFI, and floating rate transaction deposits were 8.7% of interest-bearing transaction deposits. Depending on balance sheet activity, the movement in interest rates, and the economic outlook, we expect the net interest income and net interest margin FTE to remain fairly consistent for the remainder of 2025.

    Provision for Credit Losses

    The provision for credit losses for the first quarter of 2025 was $450,000 for loans, which was $150,000 higher than the provision for credit losses of $300,000 for the prior quarter. The increase in the first quarter of 2025 was related to loan growth in the quarter, combined with uncertainty regarding tariffs and trade. The provision in the fourth quarter of 2024, which included $200,000 for loans and $100,000 for unfunded loans commitments, was due to potential economic challenges resulting from the recent inflationary environment, changing monetary policy, and loan growth. We will continue to evaluate future provision needs in relation to current economic situations, loan growth, trends in asset quality, forecasted information, and other conditions influencing loss expectations.

    Noninterest Income

    Noninterest income totaled $5.3 million for the first quarter of 2025, an increase of $277,000, or 5.5%, compared to $5.0 million for the previous quarter. The increase was mainly due to higher brokerage income and a gain on equity securities, partially offset by lower mortgage loan income and Small Business Investment Company (“SBIC”) income.

    Brokerage income was $1.3 million for the first quarter of 2025, an increase of $401,000, or 43.4%, compared to $924,000 for the previous quarter. The higher income in the first quarter of 2025 was due to increased investing activity by clients. Assets under management were $1.14 billion as of March 31, 2025.

    Equity securities are an investment in a Community Reinvestment Act (“CRA”) mutual fund consisting primarily of bonds. The gain or loss on equity securities is a fair value adjustment primarily driven by changes in the interest rate environment. Due to the fluctuations in market rates between quarters, equity securities had a gain of $44,000 in the first quarter of 2025, compared to a loss of $91,000 for the previous quarter.

    Mortgage loan income totaled $530,000 for the first quarter of 2025, a decrease of $122,000, or 18.7%, compared to $652,000 for the previous quarter due to decreased purchase activity.

    SBIC income was $280,000 for the first quarter of 2025, a decrease of $66,000, or 19.1%, compared to $346,000 for the previous quarter. This decrease was primarily due to lower normal income received from these partnerships. We expect SBIC income to be lower in future quarters due to fund value fluctuations.

    Operating Expenses

    Operating expenses totaled $16.6 million for the first quarter of 2025, a decrease of $252,000, or 1.5%, compared to $16.8 million for the previous quarter. The decrease was mainly due to lower data processing expense and loan and deposit expense, partially offset by higher personnel expense.

    Data processing expense totaled $288,000 for the first quarter of 2025, a decrease of $393,000, or 57.7%, compared to $681,000 for the previous quarter. The decrease was attributable to receipt of a $447,000 periodic refund from our data processing center in the first quarter of 2025. This decrease was partially offset by new expenses and $14,000 of nonrecurring implementation fees related to online, mobile banking, and bill payment systems implemented in the first quarter of 2025.

    Loan and deposit expenses totaled $62,000 for the first quarter of 2025, a decrease of $272,000, or 81.4%, compared to $334,000 for the previous quarter. This decrease was primarily attributable to receipt of a $173,000 negotiated, variable rebate from a vendor in the first quarter of 2025.

    Personnel expenses totaled $10.0 million for the first quarter of 2025, an increase of $254,000, or 2.6%, compared to the previous quarter. This increase was primarily due to an increase in head count, restarting of payroll tax expense, and increased revenue-based commission compensation. As of March 31, 2025 and December 31, 2024, we had 375 and 369 total employees, respectively.

    Asset Overview

    As of March 31, 2025, assets were $3.19 billion, compared to assets of $3.15 billion as of December 31, 2024, an increase of $36.8 million, or 1.2%. In the first quarter, assets were mainly impacted by a $20.6 million, or 0.7%, increase in deposits. In the first quarter of 2024, liquid assets decreased $16.8 million, or 6.3%, to $252.2 million and averaged $275.9 million for the first quarter. As of March 31, 2025, we had sufficient liquid assets available and $1.66 billion accessible from other liquidity sources. The liquid assets to assets ratio was 7.91% as of March 31, 2025. Total securities increased $14.7 million, or 2.1%, to $699.5 million in the first quarter and were 22.0% of assets as of March 31, 2025. During the first quarter, loans HFI increased $39.7 million, or 1.9%, to $2.11 billion. The loans HFI to deposits ratio was 74.84% as of March 31, 2025, compared to 73.97% as of December 31, 2024.

    Securities

    Total securities as of March 31, 2025, were $699.5 million, an increase of $14.7 million, or 2.1%, from December 31, 2024. Securities increased mainly due to the purchase of new securities, combined with a smaller net unrealized loss on securities AFS.

    The estimated fair value of securities AFS totaled $566.9 million, net of $58.7 million of unrealized loss, as of March 31, 2025, compared to $550.1 million, net of $63.2 million of unrealized loss, as of December 31, 2024. As of March 31, 2025, the amortized cost of securities held-to-maturity (“HTM”) totaled $129.7 million compared to $131.8 million as of December 31, 2024. As of March 31, 2025, securities HTM had an unrealized loss of $21.8 million compared to $22.8 million as of December 31, 2024.

    As of March 31, 2025, equity securities, which is an investment in a CRA mutual fund consisting primarily of bonds, totaled $3.0 million compared to $2.9 million as of December 31, 2024.

    Loans

    Loans HFI as of March 31, 2025, were $2.11 billion, an increase of $39.7 million, or 1.9%, from $2.08 billion as of December 31, 2024. In the first quarter of 2025, we had steady new loan closing activity, combined with funding of loan construction commitments.

    Loans HFI by Category
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Amount   Percent   Amount   Percent   $ Change   % Change
    Real estate:                      
    Commercial real estate $ 892,205   42.2 %   $ 884,641   42.6 %   $ 7,564     0.9 %
    One-to-four family residential   617,679   29.2 %     614,551   29.6 %     3,128     0.5 %
    Construction and development   175,575   8.3 %     155,229   7.5 %     20,346     13.1 %
    Commercial and industrial   339,115   16.0 %     327,086   15.8 %     12,029     3.7 %
    Tax-exempt   61,722   2.9 %     64,930   3.1 %     (3,208 )   (4.9 %)
    Consumer   28,446   1.4 %     28,576   1.4 %     (130 )   (0.5 %)
    Total loans HFI $ 2,114,742   100.0 %   $ 2,075,013   100.0 %   $ 39,729     1.9 %

    Commercial real estate (“CRE”) loans are collateralized by owner occupied and non-owner occupied properties mainly in Louisiana. Non-owner occupied office loans were $54.2 million, or 2.6% of loans HFI, as of March 31, 2025, and are primarily centered in low-rise suburban areas. The average CRE loan size was $970,000 as of March 31, 2025.

    Health care loans are our largest industry concentration and are made up of a diversified portfolio of health care providers. As of March 31, 2025, total health care loans were 8.0% of loans HFI. Within the health care sector, loans to nursing and residential care facilities were 4.2% of loans HFI, and loans to physician and dental practices were 3.4% of loans HFI. The average health care loan size was $370,000 as of March 31, 2025.

    Asset Quality and Allowance for Credit Losses

    NPAs totaled $5.2 million as of March 31, 2025, an increase of $1.9 million, or 58.6%, from December 31, 2024. The increase was primarily due to a past due loan, partially offset by payoffs and charge-offs of nonaccrual loans. As of early April 2025, the past due loan was brought current by the customer, and NPAs were further reduced by receiving principal payments on two legacy nonaccrual loans. The ratio of NPAs to assets was 0.16% and 0.10% as of March 31, 2025 and December 31, 2024, respectively.

    As of March 31, 2025, the ACL was $21.8 million. The ratio of ACL to loans HFI was 1.03% as of March 31, 2025 and 1.05% as of December 31, 2024. The net charge-offs to average loans ratio was 0.02% for the first quarter of 2025 and 0.01% for the fourth quarter of 2024.

    Deposits

    As of March 31, 2025, deposits were $2.83 billion, an increase of $20.6 million, or 0.7%, compared to December 31, 2024. Average deposits for the first quarter of 2025 were $2.82 billion, an increase of $36.2 million, or 1.3%, from the prior quarter. The following tables provide details on our deposit portfolio:

    Deposits by Account Type
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Noninterest-bearing demand deposits $ 906,540   32.1 %   $ 866,496   30.9 %   $ 40,044     4.6 %
    Interest-bearing deposits:                      
    Interest-bearing demand deposits   147,343   5.2 %     154,720   5.5 %     (7,377 )   (4.8 %)
    NOW accounts   432,054   15.3 %     467,118   16.7 %     (35,064 )   (7.5 %)
    Money market accounts   569,613   20.2 %     556,769   19.8 %     12,844     2.3 %
    Savings accounts   175,239   6.2 %     169,894   6.1 %     5,345     3.1 %
    Time deposits less than or equal to $250,000   403,354   14.2 %     403,096   14.3 %     258     0.1 %
    Time deposits greater than $250,000   191,533   6.8 %     187,013   6.7 %     4,520     2.4 %
    Total interest-bearing deposits   1,919,136   67.9 %     1,938,610   69.1 %     (19,474 )   (1.0 %)
    Total deposits $ 2,825,676   100.0 %   $ 2,805,106   100.0 %   $ 20,570     0.7 %
    Deposits by Customer Type
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Consumer $ 1,388,944   49.1 %   $ 1,362,740   48.6 %   $ 26,204     1.9 %
    Commercial   1,200,367   42.5 %     1,178,488   42.0 %     21,879     1.9 %
    Public   236,365   8.4 %     263,878   9.4 %     (27,513 )   (10.4 %)
    Total deposits $ 2,825,676   100.0 %   $ 2,805,106   100.0 %   $ 20,570     0.7 %

    The increase in deposits in the first quarter of 2025 was mainly due to higher balances in consumer and commercial customer deposit accounts, partially offset by the seasonal outflow of funds from public entity customers.

    The Bank has a granular, diverse deposit portfolio with customers in a variety of industries throughout Louisiana. As of March 31, 2025, the average deposit account size was approximately $28,000.

    As of March 31, 2025, our estimated uninsured deposits, which are the portion of deposit accounts that exceed the FDIC insurance limit (currently $250,000), were approximately $875.2 million, or 31.0% of total deposits. This amount was estimated based on the same methodologies and assumptions used for regulatory reporting purposes. Also, as of March 31, 2025, our estimated uninsured deposits, excluding collateralized public entity deposits, were approximately $689.6 million, or 24.4% of total deposits. Our cash and cash equivalents of $252.2 million, combined with our available borrowing capacity of $1.66 billion, equaled 218.4% of our estimated uninsured deposits and 277.1% of our estimated uninsured deposits, excluding collateralized public entity deposits.

    Stockholders’ Equity

    Total stockholders’ equity as of March 31, 2025, was $333.3 million compared to $319.7 million as of December 31, 2024. The $13.6 million, or 4.2%, increase in stockholders’ equity during the first quarter of 2025 was attributable to $10.4 million of net income, a $3.9 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities, and $149,000 of stock compensation, partially offset by $813,000 in cash dividends related to a $0.12 per share cash dividend that we paid on March 20, 2025.

    Non-GAAP Disclosure

    Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.

    Management and the board of directors review tangible book value per share, tangible common equity to tangible assets, and realized book value per share as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how such other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.

    A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.

    About Red River Bancshares, Inc.

    Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of our commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

    Forward-Looking Statements

    Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business, interest rates, and markets, are “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. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.

    Contact:
    Isabel V. Carriere, CPA, CGMA
    Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary
    318-561-4023
    icarriere@redriverbank.net

    FINANCIAL HIGHLIGHTS (UNAUDITED)
     
        As of and for the
    Three Months Ended
    (dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Net Income   $ 10,352     $ 9,306     $ 8,188  
                 
    Per Common Share Data:            
    Earnings per share, basic   $ 1.53     $ 1.37     $ 1.16  
    Earnings per share, diluted   $ 1.52     $ 1.37     $ 1.16  
    Book value per share   $ 49.18     $ 47.18     $ 43.43  
    Tangible book value per share (1)   $ 48.95     $ 46.95     $ 43.20  
    Realized book value per share (1)   $ 57.49     $ 56.07     $ 52.52  
    Cash dividends per share   $ 0.12     $ 0.09     $ 0.09  
    Shares outstanding     6,777,657       6,777,238       6,892,448  
    Weighted average shares outstanding, basic     6,777,332       6,797,469       7,050,048  
    Weighted average shares outstanding, diluted     6,796,707       6,816,299       7,066,709  
                 
    Summary Performance Ratios:            
    Return on average assets     1.32 %     1.18 %     1.07 %
    Return on average equity     12.85 %     11.46 %     10.77 %
    Net interest margin     3.17 %     3.04 %     2.80 %
    Net interest margin FTE     3.22 %     3.09 %     2.83 %
    Efficiency ratio     55.51 %     58.71 %     60.37 %
    Loans HFI to deposits ratio     74.84 %     73.97 %     74.22 %
    Noninterest-bearing deposits to deposits ratio     32.08 %     30.89 %     32.61 %
    Noninterest income to average assets     0.67 %     0.63 %     0.64 %
    Operating expense to average assets     2.12 %     2.14 %     2.07 %
                 
    Summary Credit Quality Ratios:            
    NPAs to assets     0.16 %     0.10 %     0.08 %
    Nonperforming loans to loans HFI     0.24 %     0.16 %     0.12 %
    ACL to loans HFI     1.03 %     1.05 %     1.06 %
    Net charge-offs to average loans     0.02 %     0.01 %     0.00 %
                 
    Capital Ratios:            
    Stockholders’ equity to assets     10.46 %     10.15 %     9.74 %
    Tangible common equity to tangible assets(1)     10.42 %     10.11 %     9.69 %
    Total risk-based capital to risk-weighted assets     18.25 %     18.13 %     17.84 %
    Tier I risk-based capital to risk-weighted assets     17.25 %     17.12 %     16.82 %
    Common equity Tier I capital to risk-weighted assets     17.25 %     17.12 %     16.82 %
    Tier I risk-based capital to average assets     12.01 %     11.86 %     11.44 %

    (1) Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.

    RED RIVER BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
     
    (in thousands) March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    ASSETS                  
    Cash and due from banks $ 36,438     $ 30,558     $ 39,664     $ 35,035     $ 19,401  
    Interest-bearing deposits in other banks   215,717       238,417       192,983       178,038       210,404  
    Securities available-for-sale, at fair value   566,874       550,148       560,555       526,890       545,967  
    Securities held-to-maturity, at amortized cost   129,686       131,796       134,145       136,824       139,328  
    Equity securities, at fair value   2,981       2,937       3,028       2,921       2,934  
    Nonmarketable equity securities   2,349       2,328       2,305       2,283       2,261  
    Loans held for sale   2,178       2,547       1,805       3,878       1,653  
    Loans held for investment   2,114,742       2,075,013       2,056,048       2,047,890       2,038,072  
    Allowance for credit losses   (21,835 )     (21,731 )     (21,757 )     (21,627 )     (21,564 )
    Premises and equipment, net   59,034       59,441       57,661       57,910       57,539  
    Accrued interest receivable   10,553       10,048       9,465       9,570       9,995  
    Bank-owned life insurance   30,593       30,380       30,164       29,947       29,731  
    Intangible assets   1,546       1,546       1,546       1,546       1,546  
    Right-of-use assets   2,611       2,733       2,853       2,973       3,091  
    Other assets   32,965       33,433       31,285       34,450       32,940  
    Total Assets $ 3,186,432     $ 3,149,594     $ 3,101,750     $ 3,048,528     $ 3,073,298  
    LIABILITIES                  
    Noninterest-bearing deposits $ 906,540     $ 866,496     $ 882,394     $ 892,942     $ 895,439  
    Interest-bearing deposits   1,919,136       1,938,610       1,864,731       1,823,704       1,850,452  
    Total Deposits   2,825,676       2,805,106       2,747,125       2,716,646       2,745,891  
    Accrued interest payable   6,463       7,583       11,751       8,747       8,959  
    Lease liabilities   2,739       2,864       2,982       3,100       3,215  
    Accrued expenses and other liabilities   18,238       14,302       15,574       13,045       15,919  
    Total Liabilities   2,853,116       2,829,855       2,777,432       2,741,538       2,773,984  
    COMMITMENTS AND CONTINGENCIES   —       —       —       —       —  
    STOCKHOLDERS’ EQUITY                  
    Preferred stock, no par value   —       —       —       —       —  
    Common stock, no par value   38,710       38,655       41,402       44,413       45,177  
    Additional paid-in capital   2,871       2,777       2,682       2,590       2,485  
    Retained earnings   348,093       338,554       329,858       321,719       314,352  
    Accumulated other comprehensive income (loss)   (56,358 )     (60,247 )     (49,624 )     (61,732 )     (62,700 )
    Total Stockholders’ Equity   333,316       319,739       324,318       306,990       299,314  
    Total Liabilities and Stockholders’ Equity $ 3,186,432     $ 3,149,594     $ 3,101,750     $ 3,048,528     $ 3,073,298  
    RED RIVER BANCSHARES, INC.  
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)  
                   
        For the Three Months Ended  
    (in thousands)   March 31,
    2025
    		   December 31,
    2024
    		   March 31,
    2024
    		  
                           
    INTEREST AND DIVIDEND INCOME              
    Interest and fees on loans   $ 28,270   $ 28,285     $ 25,893    
    Interest on securities     4,856     4,623       4,064    
    Interest on deposits in other banks     2,661     2,699       3,039    
    Dividends on stock     21     23       22    
    Total Interest and Dividend Income     35,808     35,630       33,018    
    INTEREST EXPENSE              
    Interest on deposits     11,198     11,943       11,655    
    Interest on other borrowed funds     —     —       —    
    Total Interest Expense     11,198     11,943       11,655    
    Net Interest Income     24,610     23,687       21,363    
    Provision for credit losses     450     300       300    
    Net Interest Income After Provision for Credit Losses     24,160     23,387       21,063    
    NONINTEREST INCOME              
    Service charges on deposit accounts     1,383     1,452       1,368    
    Debit card income, net     992     960       1,022    
    Mortgage loan income     530     652       456    
    Brokerage income     1,325     924       987    
    Loan and deposit income     459     463       492    
    Bank-owned life insurance income     213     216       202    
    Gain (Loss) on equity securities     44     (91 )     (31 )  
    SBIC income     280     346       352    
    Other income (loss)     46     73       80    
    Total Noninterest Income     5,272     4,995       4,928    
    OPERATING EXPENSES              
    Personnel expenses     10,023     9,769       9,550    
    Occupancy and equipment expenses     1,794     1,716       1,616    
    Technology expenses     835     884       709    
    Advertising     333     313       337    
    Other business development expenses     558     486       475    
    Data processing expense     288     681       347    
    Other taxes     612     547       737    
    Loan and deposit expenses     62     334       (42 )  
    Legal and professional expenses     632     658       618    
    Regulatory assessment expenses     391     428       404    
    Other operating expenses     1,060     1,024       1,122    
    Total Operating Expenses     16,588     16,840       15,873    
    Income Before Income Tax Expense     12,844     11,542       10,118    
    Income tax expense     2,492     2,236       1,930    
    Net Income   $ 10,352   $ 9,306     $ 8,188    
    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Three Months Ended
      March 31, 2025   December 31, 2024
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,089,712     $ 28,270   5.41 %   $ 2,072,858     $ 28,285   5.34 %
    Securities – taxable   559,752       3,871   2.77 %     555,622       3,636   2.62 %
    Securities – tax-exempt   189,729       985   2.08 %     190,470       987   2.07 %
    Interest-bearing deposits in other banks   243,751       2,661   4.37 %     225,660       2,699   4.74 %
    Nonmarketable equity securities   2,330       21   3.56 %     2,307       23   3.99 %
    Total interest-earning assets   3,085,274     $ 35,808   4.64 %     3,046,917     $ 35,630   4.60 %
    Allowance for credit losses   (21,789 )             (21,824 )        
    Noninterest-earning assets   107,295               109,992          
    Total assets $ 3,170,780             $ 3,135,085          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,341,885     $ 5,641   1.70 %   $ 1,263,775     $ 5,658   1.78 %
    Time deposits   592,368       5,557   3.80 %     599,910       6,285   4.17 %
    Total interest-bearing deposits   1,934,253       11,198   2.35 %     1,863,685       11,943   2.55 %
    Other borrowings   —       —   — %     —       —   — %
    Total interest-bearing liabilities   1,934,253     $ 11,198   2.35 %     1,863,685     $ 11,943   2.55 %
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   884,484               918,804          
    Accrued interest and other liabilities   25,336               29,567          
    Total noninterest-bearing liabilities   909,820               948,371          
    Stockholders’ equity   326,707               323,029          
    Total liabilities and stockholders’ equity $ 3,170,780             $ 3,135,085          
    Net interest income     $ 24,610           $ 23,687    
    Net interest spread         2.29 %           2.05 %
    Net interest margin         3.17 %           3.04 %
    Net interest margin FTE(3)         3.22 %           3.09 %
    Cost of deposits         1.61 %           1.71 %
    Cost of funds         1.47 %           1.56 %

    (1) Includes average outstanding balances of loans held for sale of $2.6 million and $3.2 million for the three months ended March 31, 2025 and December 31, 2024, respectively.
    (2) Nonaccrual loans are included as loans carrying a zero yield.
    (3) Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Three Months Ended
      March 31, 2025   March 31, 2024
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,089,712     $ 28,270   5.41 %   $ 2,015,063     $ 25,893   5.09 %
    Securities – taxable   559,752       3,871   2.77 %     569,600       3,048   2.14 %
    Securities – tax-exempt   189,729       985   2.08 %     197,817       1,016   2.05 %
    Interest-bearing deposits in other banks   243,751       2,661   4.37 %     224,301       3,039   5.42 %
    Nonmarketable equity securities   2,330       21   3.56 %     2,240       22   3.95 %
    Total interest-earning assets   3,085,274     $ 35,808   4.64 %     3,009,021     $ 33,018   4.35 %
    Allowance for credit losses   (21,789 )             (21,402 )        
    Noninterest-earning assets   107,295               100,486          
    Total assets $ 3,170,780             $ 3,088,105          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,341,885     $ 5,641   1.70 %   $ 1,261,361     $ 5,680   1.81 %
    Time deposits   592,368       5,557   3.80 %     582,847       5,975   4.12 %
    Total interest-bearing deposits   1,934,253       11,198   2.35 %     1,844,208       11,655   2.54 %
    Other borrowings   —       —   — %     —       —   — %
    Total interest-bearing liabilities   1,934,253     $ 11,198   2.35 %     1,844,208     $ 11,655   2.54 %
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   884,484               913,114          
    Accrued interest and other liabilities   25,336               25,055          
    Total noninterest-bearing liabilities   909,820               938,169          
    Stockholders’ equity   326,707               305,728          
    Total liabilities and stockholders’ equity $ 3,170,780             $ 3,088,105          
    Net interest income     $ 24,610           $ 21,363    
    Net interest spread         2.29 %           1.81 %
    Net interest margin         3.17 %           2.80 %
    Net interest margin FTE(3)         3.22 %           2.83 %
    Cost of deposits         1.61 %           1.70 %
    Cost of funds         1.47 %           1.56 %

    (1) Includes average outstanding balances of loans held for sale of $2.6 million and $2.0 million for the three months ended March 31, 2025 and 2024, respectively.
    (2) Nonaccrual loans are included as loans carrying a zero yield.
    (3) Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
     
    (dollars in thousands, except per share data) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Tangible common equity          
    Total stockholders’ equity $ 333,316     $ 319,739     $ 299,314  
    Adjustments:          
    Intangible assets   (1,546 )     (1,546 )     (1,546 )
    Total tangible common equity (non-GAAP) $ 331,770     $ 318,193     $ 297,768  
    Realized common equity          
    Total stockholders’ equity $ 333,316     $ 319,739     $ 299,314  
    Adjustments:          
    Accumulated other comprehensive (income) loss   56,358       60,247       62,700  
    Total realized common equity (non-GAAP) $ 389,674     $ 379,986     $ 362,014  
    Common shares outstanding   6,777,657       6,777,238       6,892,448  
    Book value per share $ 49.18     $ 47.18     $ 43.43  
    Tangible book value per share (non-GAAP) $ 48.95     $ 46.95     $ 43.20  
    Realized book value per share (non-GAAP) $ 57.49     $ 56.07     $ 52.52  
               
    Tangible assets          
    Total assets $ 3,186,432     $ 3,149,594     $ 3,073,298  
    Adjustments:          
    Intangible assets   (1,546 )     (1,546 )     (1,546 )
    Total tangible assets (non-GAAP) $ 3,184,886     $ 3,148,048     $ 3,071,752  
    Total stockholders’ equity to assets   10.46 %     10.15 %     9.74 %
    Tangible common equity to tangible assets (non-GAAP)   10.42 %     10.11 %     9.69 %

    The MIL Network –

  • MIL-OSI: Innventure to Present at Upcoming Innovation Conferences

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., April 30, 2025 (GLOBE NEWSWIRE) — Innventure, Inc. (Nasdaq: INV), a technology commercialization platform, today announced that it will sponsor two conferences—the Front End of Innovation 2025 and the IRI Innovators Summit—that explore innovation strategies and opportunities in corporate R&D.

    The Front End of Innovation 2025 will take place on May 19-21 at the Omni Boston Hotel. The event brings together global innovation leaders to explore the intersection of human intelligence and AI-driven innovation with this year’s theme, “Harvesting Innovation: Sowing the Seeds of Future Growth.”

    Colin Scott, Innventure’s Senior Vice President, DownSelect® will present an interactive session on ‘Harvesting Innovation Through Collective Intelligence,” examining how organizations can identify and commercialize breakthrough technologies from their corporate R&D spending.

    The Innovation Research Interchange (IRI) Innovators Summit will also take place on May 19-21 in Chicago. The Summit brings together innovation experts to explore growth drivers and cutting-edge innovation strategies. As an official sponsor and session leader, Innventure’s Director of DownSelect®, Nicole Mignacca, and Director of Economic and Financial Analysis, Ellie Kim, will share insights on bridging the innovation-to-market gap through its systematic approach to technology commercialization.

    Attendees are also invited to engage with Mignacca during a panel session on “The ROI of Bold Ideas: Fueling the Innovation Pipeline” and through an exclusive webinar and thought leader podcast. Attendees will learn how Innventure’s unique model combines entrepreneurial capabilities and corporate resources to create companies to transform tomorrow.

    If you’re interested in meeting with a member of the Innventure team, please reach out to Innventure’s Events Manager, Erin Steigerwalt, at esteigerwalt@innventure.com.

    About Innventure

    Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least $1 billion. Innventure defines ‘‘disruptive’’ as innovations that have the ability to significantly change the way businesses, industries, markets and/or consumers operate.

    Investor Relations Contact: Sloan Bohlen, Solebury Strategic Communications

    investorrelations@innventure.com

    Media Contact: Laurie Steinberg, Solebury Strategic Communications

    press@innventure.com

    The MIL Network –

  • MIL-OSI: OSS Receives Record $6.5 Million Contract from a Leading Defense and Technology Solutions Company

    Source: GlobeNewswire (MIL-OSI)

    OSS to deliver 80 best-in-class high performance servers and field-programmable gate array systems designed for a mobile intelligence platform

    Record $6.5 million contract reflects the Company’s multi-year growth strategy that is focused on establishing production platform positions

    ESCONDIDO, Calif., April 30, 2025 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (OSS or the Company) (Nasdaq: OSS), a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) and sensor processing at the edge, today announced a $6.5 million contract from a leading defense and technology solutions company. OSS expects shipments to commence in 2025 and contribute to revenue throughout the year.

    Under the terms of the contract, OSS will deliver 80 high performance servers and field-programmable gate array (FPGA) systems engineered for mobile, tactical military environments. The platform will be built around the Company’s 3U SDS rugged servers and 4UP PCIe expansion systems. OSS’ equipment is a key element in a U.S. Department of Defense program that is collecting sensor information, providing users with AI generated real-time analysis, and storing the collected data, all in a tactical environment.

    The contract is the third program win over the past eight months with this customer, embedding the Company’s Enterprise Class compute and storage products deeper into next-generation U.S. Department of Defense initiatives.

    “OSS is pleased to have been selected by a leading defense and technology solutions company to support a new mobile intelligence platform. This record contract reflects the first large-scale success of our growth strategy, confirms we believe we are on track to achieve our guidance and is indicative of the growing demand for our Enterprise Class compute and storage products that are specifically designed to operate on the edge and in tactical military environments. Additional development and platform opportunities are underway with this customer, which we believe will support our sales growth in 2025 and beyond,” stated OSS President and CEO, Mike Knowles.

    About One Stop Systems
    One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

    OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

    OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

    As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require-and OSS delivers-the highest level of performance in the most challenging environments without compromise.

    OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

    Forward-Looking Statements
    OSS cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Words such as, but not limited to, “anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “suggest,” “strategy,” “target,” “will,” “would,” and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on the Company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by OSS or its partners that any of its plans or expectations will be achieved, including but not limited to the potential and/or the results of this contract, program or future programs with defense contractors and the U.S. Department of Defense, any potential or actual revenue derived from the agreements, the future adoption of technologies or applications, and the expansion of the Company’s offerings and/or relationship with different branches of the U.S. Armed Forces. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Media Contacts:
    Robert Kalebaugh
    One Stop Systems, Inc.
    Tel (858) 518-6154
    Email contact

    Investor Relations:
    Andrew Berger
    Managing Director
    SM Berger & Company, Inc.
    Tel (216) 464-6400
    Email contact

    The MIL Network –

  • MIL-OSI: BYDFi Partners with Ledger to Launch Limited Edition Hardware Wallet, Debuts at TOKEN2049 Dubai

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 30, 2025 (GLOBE NEWSWIRE) — As an official sponsor of TOKEN2049 Dubai, global crypto exchange BYDFi has teamed up with industry-leading hardware wallet provider Ledger to release a limited edition co-branded Ledger Nano X. The exclusive wallets made their debut at the TOKEN2049 event, where attendees had the chance to receive them for free through on-site interactive activities.

    This special edition wallet retains the advanced security features of the original Ledger Nano X, while incorporating custom BYDFi design elements, including visual branding and customized packaging. Symbolizing a deep collaboration on user asset protection and Web3 innovation, the wallet is equipped with a secure element chip, supports the offline storage of a wide range of digital assets, and defends against common forms of cyberattack—offering users an enhanced standard of self-custody.

    Secure by Design: Ledger x BYDFi Hardware Wallet Makes Its Official Launch

    The launch drew large crowds to the BYDFi booth at TOKEN2049, where many attendees successfully received the limited edition wallet by completing live interactions. Designed for secure self-custody, the Ledger x BYDFi wallet gives users full control over their private keys and assets, reducing reliance on centralized platforms and elevating personal asset sovereignty.

    Michael, Co-founder of BYDFi, commented at the event:

    “TOKEN2049 coincides with BYDFi’s fifth anniversary, making this a milestone moment for us. This collaboration with Ledger reflects our continued commitment to asset security. The limited edition wallet is designed especially for high-net-worth individuals who demand institutional-grade protection for their digital assets.”

    Expanding Horizons: BYDFi’s Vision for Global Growth and Market Leadership

    In addition to the co-branded wallet, BYDFi showcased its on-chain trading solution, MoonX, at the event. As a flagship product of BYDFi’s “CEX + DEX” dual-engine strategy, MoonX merges the transparency of on-chain execution with the high-speed performance of centralized systems—delivering an ultra-smooth, seamless trading experience tailored to the rising demands of DeFi users.

    The launch of MoonX not only expands the boundaries of BYDFi’s trading ecosystem, but also promotes greater diversity in trading methods and empowers users with more choice and flexibility.

    Looking ahead, BYDFi will continue to strengthen collaborations with global partners and infrastructure providers, accelerating the deployment of innovative products and further solidifying its global service capabilities.

    About Ledger Nano X

    The Ledger Nano X is a hardware wallet certified by independent security labs. It features a tamper-proof secure element chip that safely stores users’ private keys. Any unauthorized access attempts trigger a self-destruct mechanism, ensuring maximum protection. Additional features include PIN protection, a 24-word recovery phrase, encrypted Bluetooth connectivity, and hidden wallets accessible via separate PINs—delivering comprehensive security for crypto asset holders.
    More info: https://www.ledger.com

    About BYDFi

    Founded in 2020, BYDFi has been recognized by Forbes as one of the world’s top 10 crypto exchanges, officially listed on CoinMarketCap and CoinGecko, and holds MSB licenses in multiple jurisdictions. It is also a member of South Korea’s CODE VASP Alliance.

    Today, BYDFi serves users in 190+ countries, with a global user base exceeding 1,000,000. The platform supports spot, perpetual, and on-chain trading, enabling access to over 600 cryptocurrencies and 500,000+ memecoin pairs. BYDFi is committed to delivering a world-class crypto trading experience. BUIDL Your Dream Finance.

    • Website: https://www.bydfi.com
    • Support Email: cs@bydfi.com
    • Business Partnerships: bd@bydfi.com
    • Media Inquiries: media@bydfi.com

    Twitter( X )| LinkedIn| Facebook | Telegram| YouTube

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/6a0f58b8-d323-40de-b689-70c3558a6f89
    https://www.globenewswire.com/NewsRoom/AttachmentNg/b9a49e6b-ad0d-4464-8213-42e029343cae

    The MIL Network –

  • MIL-OSI: Ecora Resources PLC to Present at the Metals & Mining Virtual Investor Conference May 8th

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 30, 2025 (GLOBE NEWSWIRE) — Ecora Resources (OTCQX: ECRAF), based in London, focused on critical minerals royalties and streams, today announced that Geoff Callow, Head of Investor Relations, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on May 8th.

    DATE: May 8th
    TIME: 10:00 AM ET
    LINK: https://bit.ly/4iG9fko

    Available for 1×1 meetings: May 6-9th, 12-13th, 2025

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    About Ecora Resources
    Ecora is a leading critical minerals focused royalty company.

    Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.

    The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt – key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.

    Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of our royalty portfolio.

    Ecora’s shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).

    About Virtual Investor Conferences®

    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    Ecora Resources PLC
    Geoff Callow
    Head of IR
    Callow@ecora-resources.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Best Sugar Baby Websites and Apps: Top Sugar Daddy Sites For Sugar Dating in 2025 By Sugar Daddy Meet

    Source: GlobeNewswire (MIL-OSI)

    Vaughan,Ontario, April 30, 2025 (GLOBE NEWSWIRE) — Understanding Sugar Dating in 2025

    We have seen so many aspects of life evolve with respect to technology, innovations, and all it aligns with the modern world today. And this has also applied in the world of finding love, companionship, or dating. Traditional dating scenes have also evolved with more people turning towards finding connections That align with their respective lifestyles, personal goals, and expectations. We are trying to talk about sugar dating, it has gained popularity over the last one decade and has become the alternative to finding a very unique relationship dynamic that focuses on emotional support, mutual understanding, financial assistance along with companionship. 

    ⇒ Join the Best Sugar Daddy Website for Free!

    The most fundamental approach of sugar dating is a consensual agreement between two individuals or adults; typically, a sugar baby is one who is considered to be younger and is seeking gifts, membership, or financial stability, whereas a sugar daddy is one who might offer these resources to the sugar baby in exchange of emotional connection, and companionship.

    What Is a Sugar Baby Website?

    It is a very non-traditional dynamic in the world of dating. Sugar dating is simply when one person dons the role of a sugar baby who is often the younger one with someone who is referred to as a sugar daddy or a sugar mommy who is often the elder one, and they are in a relationship in exchange for financial support, experiences, gifts.

    Flirt Smarter. Join SugarDaddyMeet Now – It’s Free to Start!

    How sugar dating platforms work?

    Unlike the normal dating applications, a sugar baby dating website or apps are built using unique tools to harness honest conversations. Several unique features such as identity checks, income verification, and arrangement based filtration help the users connect with their compatible matches with common relationship values. And in this world where cheating and deceit is so common, finding a sugar baby site that is not just about aesthetics or use of friendliness but also about safety and success rates is very crucial. Especially if you are someone who is just entering the world of sugar, baby dating, then finding a supportive digital experience can make a lot of difference.

    Who are sugar babies and sugar daddies?

    Sugar baby: The very meaning of sugar baby translates to a mutual benefit. A sugar baby is someone who tends to value mentorship, support, and financial security for exchange of intimacy, companionship, or emotional support. All of these dynamics are discussed, beforehand and agreed upon, which makes the whole experience empowering and not exploitative. Sugar babies tend to be younger men and women, including students or people in their earlier careers who really seek financial support from their dating arrangements.

    Sugar daddy: A sugar daddy is considered to be the person who is older, financially sound individual, who loves providing financial support, lifestyle, benefits, or gifts to their younger companion, known by the name of sugar, baby.the arrangement between a sugar daddy and a sugar baby is built purely on mutual understanding where both of the parties come to agreement of certain terms of the relationship, it could be mentorship, companionship, financial support, or emotional support.

    Don’t Chase. Attract. Join SugarDaddyMeet & Let Him Find You.

    Things to Look for in a Good Sugar Baby Website

    If you are someone who has just entered the world of sugar dating, then finding a good sugar baby website can be both empowering and exciting. These platforms have enabled opportunities for connections that are mutually beneficial, where transparency as well as consent play a vital role. However, we need to keep in mind that not every interaction can be ideal and some can be dangerous. Therefore, identifying the red flags especially on the platform where you are trying to find a sugar baby or a daddy is very crucial. Sure are a couple of things you might want to look out for while finding a good sugar baby website for yourself:

    • Safety and privacy features: it is crucial to find sugar baby websites that are of high-quality, which offer features such as control over the privacy of profile, offer encryption of messages, and come with inbuilt fraud prevention systems.
    • Verification process: user verification is the ultimate necessity when it comes to sugar baby or sugar daddy. To prevent fake profiles from registering on the website and to prevent falling prey to any scam which could potentially create safety concerns, the best sugar baby websites, verify their users through government ID checks, phone, confirmation, or photo verification.
    • Member quality (real vs fake profiles): a good sugar baby website will provide transparent intentions to its users. Such platforms support open dialogues wherein the individual from both the sites can voice out their expectations, goals, and arrangements. This helps distinguish between real profiles versus fake profiles.
    • Costs and premium features: every sugar baby website comes with its own set of unique features, and some of its primary features might come at a cost. Therefore, it is essential for you to hunt for a sugar baby website that fits your budget and alliance with every feature that you are looking out for.
    • Ease of use (mobile apps, design): an intuitive and clean design of a sugar baby website will help its users Stay more focused on meaningful communication to find their perfect sugar daddy or sugar baby to enjoy sugar dating.

    Be Bold. Be Desired. Be Spoiled. Join SugarDaddyMeet Today.

    How to Find a Sugar Daddy (The Fun + Flirty Way )

    Looking for a sugar daddy who’s generous, charming, and knows how to spoil you? You’re not alone, babe—and yes, he’s out there. Finding him isn’t about chasing—it’s about attracting. And with a little confidence and sparkle, you can have him wrapped around your finger (Rolex optional ).

    First things first: choose the right playground. Apps like SugarDaddyMeet.com are full of upscale, successful men who are ready to invest in a connection that’s as exciting as it is mutually rewarding. No more guessing games—just real men with real intentions.

    Dress your profile to impress. Flirty but classy pics, a fun and confident bio, and a hint of what makes you irresistible. Show your charm, wit, and ambition. Remember: sugar daddies love confidence and a little sass.

    When you chat, keep it light, playful, and polished. Flirt with finesse. Ask about his passions, tease him a little, and show you’re not just pretty—you’ve got presence.

    And don’t forget, sugar—it’s your world. Set your boundaries, know your worth, and only say yes to someone who makes you feel like the main character.

    Because you’re not just looking for a sugar daddy—you’re looking for your upgrade.

    Best Sugar Baby Website and App

    SugarDaddyMeet.com

    When it comes to dating and building meaningful connections, trust is important — but sometimes, it’s the little extras that make all the difference. SugarDaddyMeet.com creates a space where people can form mutually rewarding relationships without worrying about social stigma, especially when age is a factor.

    For women interested in meeting successful, generous partners, the site opens the door to connecting with confident, well-established men. Meanwhile, men in search of elegance and charm can discover genuine connections with attractive, engaging women.
    If you’re looking to explore relationships based on mutual benefit, respect, and understanding — without judgment — this platform offers a welcoming environment for just that. This platform has been around for nearly two decades and continues to perform reliably. With a user base that has grown to over 2 million people, it’s clear that many still trust and actively use the service. 
    That kind of ongoing popularity speaks volumes about its quality and consistency.

    Key Features

    Primary features of sugar daddy include:

    • Emphasising customer support: Sugardaddymeet.com gives excellent customer support to all of its members. The support team is available always to assist its users with any questions or concerns they might have using the platform. The team is efficient and well trained in handling all types of user queries. The sugardaddymeet.com platform also provides priority customer support for premium members, ensuring that their queries get priority, attention and are solved swiftly.
    • Secret photos and videos: The Sugardaddymeet.com website provides all of its members with several unique functionalities and features that immensely enhance the users online dating experience. Once such feature has to be the incredible ability to view hidden videos and photos of a particular particular user’s match. it grants them exclusive media and details, understanding the particular match’s likes, dislikes, interest, and personalities.
    • Higher search in rankings: The Sugardaddymeet.com platform offers its users, options of purchasing credit bundles, which can be unlocked to enjoy an array of premium benefits and features, including the ability to increase one’s ranking on the website. With the help of these credit bundles the users can improvise their visibility when a potential match Looks for similar interest. This feature helps users to stand out and create a strong impression on the platform.
    • Conversation starters: The Sugardaddymeet.com platform has a very distinctive system of credit which allows its users to begin conversations by using credits in multiples of tens and unlocking them in a permanent manner. This allows users to revisit conversations with their potential matching individuals without having to pay for an entire month’s subscription as in the case of other platforms. This approach has been celebrated as a very unique feature.
    • The swipe and match method: this matching game on the sugardaddymeet.com platform is very engaging and follows. A straightforward approach where the users are presented with potential profiles or pictures of sugar, daddies or sugar babies and asked if they are interested. Members can swipe right if they find the profile interesting and if they do not want to go forward with it, all they have to do is swipe left. When two users swipe right on each other’s profile, that is considered a match.

    Ready to Be Pampered? Create Your Free Profile Now.

    Pros of using Sugardaddymeet.com platform

    • Active user base: the platform has several users who live in nearby areas, this increases the likelihood of finding a suitable match which is practical.
    • User friendly interface: The platform is very easy for users to navigate and comes in an attractive design and rich functionality.
    • Successful dates in a short span of time: The platform is efficient in helping its users go on real time dates within a small time frame.
    • Comprehensive filter and search options: the platform comes with an advanced search functionality that allows its users to do filtering of potential matches in a precise manner. This makes it easier to find ideal partners quickly.
    • Privacy protection: site gives utmost importance on its users privacy by providing options to hide profiles completely or in a selective manner.
    • 24/7 live support: the customer support is available round the clock to its users to solve any issue that they might face.
    • Robust verification for credibility: several verification methods are conducted on its users, such as email, photo, and phone validations to ensure an authentic and safe dating environment.

    Cons of using sugardaddymeet.com platform

    • Unfamiliar features: the sugardaddymeet.com platform offers so many features that some users might get overwhelmed and will have difficulty in understanding how to explore it or might take time.
    • Cost of sugar babies: unlike other sugar daddy websites that charge only for sugar daddy and not for sugar babies, the sugardaddymeet.com platform charges both parties which might be a drawback.

    Who it’s best for: well, the answer to this can be limitless, but the sugardaddymeet.com platform is best for those who are on a lookout for a transparent dating relationship with common understanding. It is for the younger ones who seek financial support along with a relationship. It is also for those older ones who are longing to feel young again, but do not want to jump into relationships.

    Join the Elite Circle of Sugar Babies – Your Dream Sugar Daddy Awaits!

    Sugar Daddy Meet Customer Reviews 

    ⭐⭐⭐⭐⭐

    Alina M. Toronto, Canada
    I never imagined a dating site could lead to something this magical. I met Daniel here—a thoughtful, successful gentleman who sees me for who I am, not just how I look. From candlelit dinners in Yorkville to weekend getaways in the Rockies, our connection keeps deepening. SugarDaddyMeet made it feel effortless to find someone who values both luxury and genuine affection.

    ⭐⭐⭐⭐

    Luca R. Milan, Italy
    As a busy entrepreneur, I didn’t have time to play games. SugarDaddyMeet introduced me to Sofia, a kind and ambitious woman with elegance and heart. We share more than just lavish tastes—we share values. Whether we’re sipping Barolo on the lake or talking till sunrise, she brings out the best in me. It’s not just dating, it’s an experience of romance on a whole new level.

    ⭐⭐⭐⭐⭐

    Chloe W. Sydney, Australia
    When I joined, I hoped for someone mature and sincere—and that’s exactly what I found. Mark is everything I didn’t know I needed: generous with both his time and heart. From sunrise walks on Bondi Beach to private dinners overlooking the harbor, every moment feels like a chapter in a love story. SugarDaddyMeet gave me the fairytale I thought only existed in movies.

    ⭐⭐⭐⭐

    Noah J. New York City, USA
    I was searching for more than just beauty—I wanted substance wrapped in elegance. SugarDaddyMeet helped me find Ana, a smart, stylish woman with a soft heart. Our weekends in the Hamptons, shared laughter, and romantic strolls in Central Park made me believe in real, grown-up love again. This site doesn’t just match profiles—it connects soulmates.

    Don’t Wait for Him to Find You – Take Control and Join SugarDaddyMeet!

    Free vs Paid Sugar Baby Sites: Which Is Better?

    • A lot of doubts and questions pop-up for this and we are here to tell you that most of the sugar daddy websites allow users to join for free, but for the best experience a premium membership is required. It means that you will be able to set your profile and browse on the platform for free, but you might need to pay in order to send messages, unlock certain premium features, and also see as to who has viewed your profile. 
    • For the safest and most practical experience, we recommend opting for premium membership because this will ensure that you have access to premium features which helps you understand your match better and communicate without any hindrance.

    How to Stay Safe While Using Sugar Baby Apps

    • Safety must be regarded as the most important part of using a sugar daddy website. So if you’re someone who are new to the same or have been a part of such dating websites for a while, it is very important for you to understand how to protect yourself online. And it is vital for both sugar, daddies and sugar babies to spot the red flax and follow smart and effective safety habits right from the beginning.
    • Always remember to opt for public venues for your first meeting such as cafes or restaurants. It is best to avoid private residences or secluded locations for safety purposes. If possible, inform a trusted family member of Friend about your meeting whereabouts.
    •  Discuss expectations clearly as honest discussions about what is expected mutually with your such as the frequency of meetings, financial support, and boundaries. This will ensure that both of you are on the same page.

    ⇒ Join a Top-Rated Sugar Daddy Website Today

    Sugar Dating vs. Traditional Dating: What’s the Real Difference?

    When it comes to relationships, one size doesn’t fit all. Sugar dating and traditional dating offer very different experiences—and understanding those differences can help you choose the path that truly suits your lifestyle and values.

    Traditional dating often revolves around trial and error. It can mean endless swiping, unclear intentions, and investing time in people who may not share your goals. It’s romantic, yes—but sometimes frustratingly vague. You might go on several dates before figuring out if someone wants commitment, fun, or simply attention.

    Sugar dating, on the other hand, is refreshingly direct. Both sugar babies and sugar daddies (or mommies) are upfront about what they’re looking for—whether that’s companionship, mentorship, emotional connection, or financial support. There’s no pretending. Expectations are clear, and relationships are built on mutual benefit and respect.

    In sugar dating, luxury and lifestyle aren’t side perks—they’re part of the equation. It’s dating with clarity, class, and a little extra sparkle. While traditional dating often hopes to grow into something meaningful, sugar dating begins with intention and purpose.

    So if you’re tired of mixed signals and ready for a relationship that reflects your worth, sugar dating may just be the upgrade you’ve been looking for.

    ✨ Your Perfect Sugar Daddy is Waiting – Create Your Free Profile Now!

    Tips for Creating a Successful Sugar Baby Profile

    • Choosing the right photos: Posting a mix of photos and videos helps others get a clearer sense of who you are. This kind of visual insight often draws more attention to your profile and can boost the likelihood of someone reaching out to connection
    • Writing an attractive bio: providing comprehensive information. While you are registering on the platform, helps the system accurately match you with a suitable candidate. You can include everything in the bio right from why you are seeking out for a match, what are your expectations, and what you can contribute as a partner to an individual. All these will help in highlighting your profile to a potential match.
    • Messaging tips: before starting a conversation, take some time to review the profile to understand common hobbies and interests. This will help you start a more engaging conversation.

    Frequently Asked Questions (FAQ)

    Is it legal to be a sugar baby?
    It is completely fine to be a sugar baby as long as the relationship is consensual and nothing illegal is undertaken in the arrangement.

    How much allowance do sugar babies usually get?
    This varies depending on location and relationship but according to the platform, most of the sugar babies receive anywhere between $2500-$5000 per month. Certain allowances are non-monetary such as vacations, tuition assistance, shopping spree, and so on.

    Are there sugar baby sites without upfront payment?
    Yes, there are several websites that offer free or free – trial memberships, which do not require any payment.

    What’s the best sugar baby app for beginners?
    We would highly recommend sugardaddymeet.com platform as it is safe, trusted, and comes with good user reviews.

    Is Sugar Dating Right for You as a Sugar Baby?

    Are you a woman who knows what she wants—and isn’t afraid to ask for it? If you dream of rooftop dinners, designer gifts, and deep conversations with someone who appreciates your beauty and brains, sugar dating might just be your perfect match.

    Being a sugar baby isn’t about gold digging—it’s about goal setting. Whether you’re building your career, funding your education, or simply love the finer things in life, sugar dating connects you with successful, sophisticated partners who get it. Think mentorship over meaningless swiping, and luxury over late-night “wyd” texts.

    Sugar dating is for the bold, the confident, and the classy. It’s for women who value their time and expect the same in return. It’s about mutual respect, clear expectations, and—let’s be honest—a little bit of sparkle.

    Of course, this lifestyle comes with responsibilities: setting boundaries, knowing your worth, and owning your power. But if you’re ready to step into a world where affection and ambition go hand in hand, sugar dating might be more than right for you—it might be your glow-up moment.

    Final Thoughts: Finding the Best Sugar Dating Site for You

    Sugar Daddy Meet stands out as a go-to platform for those exploring sugar dating, thanks to its simple, easy-to-use layout that makes finding local connections straightforward. While there’s room for improvement — like the addition of live customer chat — the site still offers a solid experience. Navigation is smooth, the links and features are clearly laid out, and the support team is responsive when needed.

    Getting started is quick, and the search tools are surprisingly effective, making it a good fit whether you’re new to this scene or have some experience. Many users describe it as a safe and dependable space where age-gap relationships are welcomed without judgment. For those seeking genuine arrangements without the hassle, Sugar Daddy Meet can be a refreshing change of pace. Some users have also claimed that they found real connection through these platforms who value their sense of living life without any thread attached. And that these connections have lasted for a long duration of time as the platform encourages one to express their expectations in the most honest way.

    Project name: SugarDaddyMeet.com
    10 – 8707 Dufferin St,
    Suite 160 Vaughan,
    Ontario L4J 0A6
    Canada
    Company website: https://www.sugardaddymeet.com/
    email: support@SugarDaddyMeet.com
    Content Accuracy Disclaimer
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    The MIL Network –

  • MIL-OSI: Kneat to Announce 2025 First-Quarter Financial Results May 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Ireland, April 30, 2025 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation and quality processes, announced today that the Company will release its financial results for the quarter ended March 31, 2025, after TSX market close on May 7, 2025.

    Eddie Ryan, Chief Executive Officer and Hugh Kavanagh, Chief Financial Officer, will host a conference call and Q&A for sell side analysts via webcast on May 8, 2025 at 09:00 ET (14:00 GMT).

    Interested parties can register for the live webcast via the following link:

    Register Here

    The first-quarter financial results will be available from the Financial Information section of the Investors page on the Kneat Solutions website, at: https://kneat.com/investors/ 

    About Kneat
    Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard.   For more information visit www.kneat.com.

    For further information:

    Katie Keita, Investor Relations Lead, +902-706-9074, katie.keita@kneat.com

    The MIL Network –

  • MIL-OSI: Sagtec Global Limited Achieves Strong Fiscal Year 2024 Performance with US$11.6 Million Revenue, Marking 78% Year-over-Year Growth

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, April 30, 2025 (GLOBE NEWSWIRE) — Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec” or the “Company”), a leading provider of customizable software solutions, today announced its audited financial results for the financial year ended December 31, 2024 (the “Financial Results”).

    • Sagtec achieves record high revenue of US$11.6 million, for fiscal year 2024, reflecting a record high 78% Year-over-Year (YoY) growth.
    • Gross profit surged 49% YoY to US$2.8 million, driven by substantial increases in revenue.
    • Revenue contribution from the Speed+ smart ordering and QR ordering system subscriptions nearly doubled to 23% in 2024, reflecting strong market adoption.
    • Software development services also saw steady growth, contributing 10% of total revenue in 2024.
    • The company is now delivering stronger margins as it moves toward a more scalable and sustainable business model.

    “We are proud to have reached this milestone despite ongoing macroeconomic uncertainties. This success is a testament to the resilience of our business model and the unwavering dedication of our team. Our strong financial results underscore the growing demand for our innovative solutions and the effectiveness of our strategic initiatives. With significant growth in both revenue and gross profit, we are well-positioned for continued success. Looking ahead to 2025, we are focused on accelerating our expansion into key regional markets, including Indonesia, Hong Kong, and other Southeast Asian countries. This momentum reinforces our commitment to delivering sustained value to our clients, shareholders, and stakeholders as we continue to scale our presence in the digital economy,” said Kevin Ng Lok, Chairman, Executive Director and Chief Executive Officer of Sagtec.

    FINANCIAL RESULTS

    Revenue was US$11.6 million for fiscal year 2024, representing a surge of 78% YoY from US$6.5 million for fiscal year 2023. The growth in revenue is primarily attributed to strong performance across all core verticals – both services provided and tangible products, driven by the expansion in markets.

    • Sagtec’s revenue from services surged by 122% to US$6.8 million for the fiscal year 2024, compared to US$3.1 million in fiscal year 2023. This increase was primarily driven by strong client retention through subscription renewals and the successful acquisition of new subscribers during the year.
    • The company’s revenue generated from tangible products grew by 50%, reaching US$4.8 million for fiscal year 2024, compared to US$3.2 million in fiscal year 2023. This growth was largely fueled by the increased distribution of food ordering kiosks with screens, in response to shifting market behaviors and significant labor shortages in the F&B industry. Additionally, rising revenue from power bank charging stations highlights the success of Sagtec’s expansion strategy via dealers and resellers.
    • Sagtec’s revenue generated from rentals declined significantly to zero in fiscal year 2024. This strategic shift reflects the company’s decision to move away from the rental service model – which involves a long return on investment – in favor of direct machine sales, with ongoing maintenance supported by third-party operators.
      For the Fiscal Year Ended December 31  
      2024   2023   Change  
      USD   USD   %  
    Revenue from services 6,857,639   3,093,276   122 %
    Revenue from tangible products 4,774,291   3,192,013   50 %
    Revenue from rentals –   146   -100 %
    Others –   264,459   -100 %
    Total Revenue 11,631,930   6,549,894   78 %
                 

    Other income for fiscal year 2024 was zero, showing a significant decrease of 100% compared to US$264 thousand in fiscal year 2023.

    EBITDA stood at US$2.1 million in fiscal year 2024, reflecting a 17.7% margin of revenue, with a significant increase of 60%, compared to US$1.3 million in fiscal year 2023. This growth was primarily driven by higher profits and the reduction of non-essential expenses.

    Net income for the fiscal year 2024 amounted to US$1.6 million, representing a US$0.6 million increase from a net income of US$1.0 million for the fiscal year 2023.

    Cost of Service was US$8.9 million for the financial year ended December 31, 2024 representing an increase of 89% from US$4.7 million for the financial year ended December 31, 2023.

    • Cost of sales from services increased by 140% to US$5.9 million for the fiscal year 2024, compared to US$2.5 million for the fiscal year 2023. The rise is primarily due to the increase of server capacity and proportional maintenance expenses due to the growth in the expanding subscriber base.
    • Expenses for tangible products increased by 37% from US$2.1 million for the financial year ended December 31, 2023, to US$2.9 million for the financial year ended December 31, 2023. The increase is driven by the consistent growth in operational costs.
    • Cost of sales from rentals edged up by 1%, from US$0.73 million in fiscal year 2023 to US$0.74 million in 2024. The slight increase was mainly due to the expansion of rental spaces to support operations and accommodate growing client demand.
      2024   2023   Change  
      USD   USD   %  
    Cost of Sales – Services 5,943,246   2,477,397   140 %
    Cost of Sales – Tangible Products 2,895,333   2,118,865   37 %
    Cost of Sales – Rental 73,695   73,002   1 %
    Total 8,912,274   4,722,794   89 %
                 

    The expenses for the director compensation increased by 26% from US$0.12 million for fiscal year 2023 to US$0.15 million for the fiscal year 2024. The increase was due to the company’s commitment to rewarding management leadership for driving growth and enhancing overall performance.

    Non-controlling interests increased to 16% to US$17 thousand in fiscal year 2024 from US$11 thousand in fiscal year 2023. The increase of non-controlling interests is driven by the increase of other income.

    Operating income increased to US$2.1 million in fiscal year 2024, reflecting an increase of 55% compared to US$1.3 million in fiscal year 2023. This substantial growth was driven by effective and efficient cost management, despite rising operating expenses. It also reflects strong revenue growth from both services (146%) and tangible products (40%).

    As a result of the above, net profit was US$1.6 million for the financial year ended December 31, 2024, compared to US$1.0 million for the fiscal year ended December 31, 2023.

    Basic and diluted earnings per share was US$0.14 for the financial year ended December 31, 2024, compared to US$0.09 for the financial year ended December 2023, reflecting an increase of US$0.05 or 56%.

    CASH POSITION AND CAPITAL ALLOCATION

    Net cash generated from operating activities was US$1.3 million in fiscal year 2024, a significant increase of 134% from US$0.5 million in fiscal year 2023. This was primarily driven by net profit, adjustments for non-cash expenses, an increase in other receivables and prepayments, and a decrease in trade receivables.

    Net cash used in investing activities amounted to US$1.3 million in fiscal year 2024, representing a slight increase of 4% compared to US$1.2 million in fiscal year 2023. This increase was primarily driven by continued investment in plant and equipment.

    Net cash generated from financing activities declined to US$57 thousand in fiscal year 2024, reflecting a 92% decrease from US$788 thousand in fiscal year 2023. This decrease was primarily due to higher bank loan repayments and increased overdraft charges.

    Cash and cash equivalents stood at US$82 thousand as of December 31, 2024, marking a 254% increase compared to -US$52 thousand as of December 31, 2023. This figure includes cash on hand, bank balances, and cash held in share trading accounts. While the Company’s cash position improved significantly compared to the prior year, we continue to actively monitor and manage our liquidity position to ensure sufficient working capital to support operations and growth initiatives.

    About Sagtec Global Limited

    Sagtec is a leading provider of customizable software solutions, primarily serving the Food & Beverage (F&B) sector. The Company also offers software development, data management, and social media management to enhance operational efficiency across various industries. Additionally, Sagtec operates power-bank charging stations at 300 locations across Malaysia through its subsidiary, CL Technology (International) Sdn Bhd.

    For more information on the Company, please log on to https://www.sagtec-global.com/.

    Forward-Looking Statement

    This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” “continue” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

    Contact Information:

    Sagtec Global Limited Contact:
    Ng Chen Lok
    Chairman, Executive Director & Chief Executive Officer
    Telephone +6011-6217 3661
    Email: info@sagtec-global.com

    The MIL Network –

  • MIL-OSI: Blue Foundry Bancorp Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    RUTHERFORD, N.J., April 30, 2025 (GLOBE NEWSWIRE) — Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024.

    James D. Nesci, President and Chief Executive Officer, commented, “We are pleased with the improvement experienced in yields on assets and cost of liabilities as both contributed to a 27 basis points increase in net interest margin. In addition, we continue to maintain our strong capital position, increasing tangible book value to $14.81 per share.”

    Mr. Nesci also noted, “Deposit growth continued in the first quarter, funding loan growth of $42 million. Increases in our commercial real estate and consumer portfolios drove loan growth during the quarter as we remain focused on growing our commercial portfolio, supplemented with consumer loan purchases. Credit quality remained strong with a non-performing asset to total asset ratio of 0.27% and our allowance for credit losses on loans at 81 basis points of our loan portfolio covers non-performing loans by 2.3 times.”

    Highlights for the first quarter of 2025:

    • Deposits increased $43.9 million to $1.39 billion and Loans increased $42.2 million to $1.63 billion compared to the linked quarter.
    • Uninsured deposits to third-party customers totaled approximately 11% of total deposits as of March 31, 2025.
    • Net interest margin increased 27 basis points from the linked quarter to 2.16%.
    • Interest income for the quarter was $22.7 million, an increase of $928 thousand, or 4.3%, compared to the linked quarter.
    • Interest expense for the quarter was $12.0 million, a decrease of $343 thousand, or 2.8%, compared to the linked quarter.
    • Provision for credit losses of $201 thousand was primarily due to the increase in the provision for loans attributed to the increase in the commercial real estate portfolio.
    • Book value per share was $14.82 and tangible book value per share was $14.81. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • 464,085 shares were repurchased under our share repurchase plans at a weighted average share price of $9.52 per share.

    Loans

    Loans increased by $42.2 million during the first three months of 2025. The Company continues to focus on diversifying its lending portfolio by growing its commercial portfolios. Additionally, we purchased unsecured consumer loans with credit reserves. These loans improved yields while having low exposure to credit loss. During the first three months of 2025, the consumer loan portfolio increased by $34.3 million as a result of these purchases. In addition, the commercial real estate portfolio increased by $28.5 million, of which $14.4 million was in owner-occupied properties and the construction portfolio increased by $7.3 million. The multifamily and residential portfolios decreased by $25.7 million and $5.5 million, respectively.

    The details of the loan portfolio are below:

        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (In thousands)
    Residential   $ 512,793     $ 518,243     $ 516,754     $ 526,453     $ 540,427  
    Multifamily     645,399       671,116       666,304       671,185       671,011  
    Commercial real estate     288,151       259,633       241,711       241,867       244,207  
    Construction     92,813       85,546       80,081       71,882       63,052  
    Junior liens     26,902       25,422       24,174       23,653       22,052  
    Commercial and industrial     18,079       16,311       14,228       12,261       13,372  
    Consumer and other     41,518       7,211       7,731       83       56  
    Total loans     1,625,655       1,583,482       1,550,983       1,547,384       1,554,177  
    Less: Allowance for credit losses     13,152       12,965       13,012       13,027       13,749  
    Loans receivable, net   $ 1,612,503     $ 1,570,517     $ 1,537,971     $ 1,534,357     $ 1,540,428  


    Deposits

    As of March 31, 2025, deposits totaled $1.39 billion, an increase of $43.9 million, or 3.27%, from December 31, 2024, driven by increases of $28.8 million and $19.6 million in NOW and demand accounts and time deposits, respectively, partially offset by decreases in savings accounts of $3.6 million. The Company’s strategy is to focus on attracting the full banking relationship of small- to medium-sized businesses through an extensive suite of deposit products. While there is strong competition for deposits in the northern New Jersey market, we were able to increase core customer deposits during the quarter. Brokered deposits increased $50.0 million during the first quarter of 2025 as higher cost customer time deposits matured and were supplemented with brokered deposits.

    The details of deposits are below:

        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (In thousands)
    Non-interest bearing deposits   $ 25,222     $ 26,001     $ 22,254     $ 24,733     $ 25,342  
    NOW and demand accounts     398,332       369,554       357,503       368,386       373,172  
    Savings     236,779       240,426       237,651       246,559       250,298  
    Core deposits     660,333       635,981       617,408       639,678       648,812  
    Time deposits     726,908       707,339       701,262       671,478       642,372  
    Total deposits   $ 1,387,241     $ 1,343,320     $ 1,318,670     $ 1,311,156     $ 1,291,184  


    Financial Performance Overview:

    First quarter of 2025 compared to the fourth quarter of 2024

    Net interest income compared to the fourth quarter of 2024:

    • Net interest income was $10.7 million for the first quarter of 2025 compared to $9.5 million for the fourth quarter of 2024 as interest earned on interest-earning assets increased and interest paid on time deposits decreased.
    • Net interest margin increased by 27 basis points to 2.16%.
    • The yield on average interest-earning assets increased 14 basis points to 4.51%, while the cost of average interest-bearing liabilities decreased eight basis points to 2.89%.
    • Average interest-earning assets increased by $22.7 million and average interest-bearing liabilities increased by $30.3 million.

    Non-interest expense compared to the fourth quarter of 2024:

    • Non-interest expense increased $748 thousand primarily driven by an increase of $895 thousand in compensation and benefits expenses due to normal salary increases and a reset of variable compensation accruals. Variable compensation, achieved at less than target in 2024, was reset at the start of 2025. In addition, an increase of $109 thousand in occupancy and equipment was largely due to snow removal expenses in the first quarter partially offset by decreases in furniture and equipment expense. These increases were partially offset by a decrease of $174 thousand in other expenses.

    Income tax expense compared to the fourth quarter of 2024:

    • The Company did not record a tax benefit for the losses incurred during the first quarter of 2025 and the fourth quarter of 2024 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At March 31, 2025, the valuation allowance on deferred tax assets was $25.4 million.

    First quarter of 2025 compared to the first quarter of 2024

    Net interest income compared to the first quarter of 2024:

    • Net interest income was $10.7 million for the first three months of 2025 compared to $9.4 million for the same period in 2024. The increase was largely due to increases in interest earned on interest-earning assets and lower interest costs on time deposits.
    • Net interest margin increased by 24 basis points to 2.16%.
    • The yield on average interest-earning assets increased 26 basis points to 4.51%, partially offset by a three basis point increase in the cost of average interest-bearing liabilities.
    • Average interest-earning assets and average interest-bearing liabilities increased by $44.3 million and $70.2 million, respectively. Average loans drove the growth in interest-earning assets, with an increase of $45.7 million. Average interest-bearing deposits increased by $96.6 million, while average FHLB advances decreased by $26.5 million.

    Non-interest expense compared to the first quarter of 2024:

    • Non-interest expense was $13.6 million for the first quarter of 2025, an increase of $387 thousand driven by increases of $289 thousand, $111 thousand and $100 thousand in compensation and benefits expenses, occupancy and equipment expenses and data processing, respectively.

    Income tax expense compared to the first quarter of 2024:

    • The Company did not record a tax benefit for the losses incurred during the first quarters of 2025 and 2024 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At March 31, 2025, the valuation allowance on deferred tax assets was $25.4 million.

    Balance Sheet Summary:

    March 31, 2025 compared to December 31, 2024

    Cash and cash equivalents:

    • Cash and cash equivalents increased $3.7 million to $46.2 million.

    Securities available-for-sale:

    • Securities available-for-sale decreased $10.4 million to $286.6 million due to maturities, calls and pay downs offset by a decrease in unrealized losses of $4.1 million.

    Securities held-to-maturity

    • Securities held-to-maturity decreased $1.0 million due to pay downs in the portfolio.

    Total loans:

    • Total loans held for investment increased $42.2 million to $1.63 billion.
    • Consumer, commercial real estate and construction loans increased $34.3 million, $28.5 million, and $7.3 million, respectively. Partially offsetting these increases were decreases in multifamily loans of $25.7 million and residential loans of $5.5 million.
    • During the first quarter, the Company purchased consumer and residential loans totaling $35.0 million and $6.6 million, respectively.

    Deposits:

    • Deposits increased $43.9 million from December 31, 2024 to $1.39 billion at March 31, 2025. This was largely the result of a $28.8 million increase in NOW and demand accounts and a $19.6 million increase in certificates of deposits.
    • Core deposits (defined as non-interest bearing checking, NOW and demand accounts and savings accounts) represented 47.6% of total deposits, compared to 47.3% at December 31, 2024.
    • Brokered deposits totaled $205.0 million and $155.0 million at March 31, 2025 and December 31, 2024, respectively. The increase in brokered deposits supplemented the reduction in retail time deposits.
    • Uninsured and uncollateralized deposits to third-party customers were $159.8 million, or 11% of total deposits, at the end of the first quarter.

    Borrowings:

    • FHLB borrowings decreased $5.5 million to $334.0 million.
    • As of March 31, 2025, the Company had $275.6 million of additional borrowing capacity at the FHLB, $107.5 million in secured lines at the Federal Reserve Bank and $30.0 million of other unsecured lines of credit.

    Capital:

    • Shareholders’ equity decreased $5.5 million to $326.7 million. The decrease was primarily driven by the repurchase of shares, including shares netted for income tax withholding on vested equity awards, at a cost of $4.8 million. Additionally, the year-to-date loss, partially offset by favorable changes in accumulated other comprehensive income, contributed to the decrease in shareholders’ equity.
    • Tangible equity to tangible assets was 15.61% and tangible common equity per share outstanding was $14.81. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • The Bank’s capital ratios remain above the FDIC’s “well capitalized” standards.

    Asset quality:

    • As of March 31, 2025, the allowance for credit losses (“ACL”) on loans as a percentage of gross loans was 0.81%.
    • The Company recorded a provision for credit losses of $201 thousand for the first quarter of 2025. For the first quarter of 2025, there was a provision of $203 thousand in the ACL for loans, offset by a release of $1 thousand in the ACL for both off-balance-sheet commitments and held-to-maturity securities. The provision was primarily driven by the increase in loan balances and the shift in composition of the portfolio.
    • Non-performing loans totaled $5.7 million, or 0.35% of total loans compared to $5.1 million, or 0.33% of total loans at December 31, 2024.
    • Net charge-offs were $16 thousand for the three months ended March 31, 2025.
    • The ratio of allowance for credit losses on loans to non-performing loans was 229.81% at March 31, 2025 compared to 254.02% at December 31, 2024.

    About Blue Foundry

    Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a place where things are made, purpose is formed, and ideas are crafted. Headquartered in Rutherford NJ, with a presence in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset and Union counties, Blue Foundry Bank is a full-service, innovative bank serving the doers, movers, and shakers in our communities. We offer individuals and businesses alike the tailored products and services they need to build their futures. With a rich history dating back more than 145 years, Blue Foundry Bank has a longstanding commitment to its customers and communities. To learn more about Blue Foundry Bank visit BlueFoundryBank.com or call (888) 931-BLUE. Member FDIC.

    Conference Call Information

    A conference call covering Blue Foundry’s first quarter 2025 earnings announcement will be held today, Wednesday, April 30, 2025 at 11:00 a.m. (EDT). To listen to the live call, please dial 1-833-470-1428 (toll free) or +1-404-975-4839 (international) and use access code 556514. The webcast (audio only) will be available on ir.bluefoundrybank.com. The conference call will be recorded and will be available on the Company’s website for one month.

    Contact:
    James D. Nesci
    President and Chief Executive Officer
    BlueFoundryBank.com
    jnesci@bluefoundrybank.com
    201-972-8900

    Forward-Looking Statements

    Certain statements contained herein are 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 (the “Exchange Act”) and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions.

    Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inflation and changes in the interest rate environment that reduce our margins and yields, the fair value of financial instruments or our level of loan originations, or increase in the level of defaults, losses and prepayments on loans we have made and make; general economic conditions, either nationally or in our market areas, that are worse than expected, including potential recessionary conditions, the imposition of tariffs or other domestic or international governmental policies; including potential recessionary conditions, the imposition of tariffs or other domestic or international governmental policies; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in our market area; our ability to implement and change our business strategies; competition among depository and other financial institutions; adverse changes in the securities or secondary mortgage markets; changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees, capital requirements and insurance premiums; changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; changes in the quality or composition of our loan or investment portfolios; technological changes that may be more difficult or expensive than expected; a failure or breach of our operational or security systems or infrastructure, including cyber-attacks; the inability of third party providers to perform as expected; our ability to manage market risk, credit risk and operational risk in the current economic environment; changes in consumer spending, borrowing and savings habits; changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission or the Public Company Accounting Oversight Board; our ability to retain key employees; the current or anticipated impact of military conflict, terrorism or other geopolitical events; the ability of the U.S. Government to manage federal debt limits; and changes in the financial condition, results of operations or future prospects of issuers of securities that we own.

    Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

     
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Financial Condition
     
        March 31, 2025   December 31, 2024   March 31, 2024
        (unaudited)   (audited)   (unaudited)
        (Dollars in Thousands)
    ASSETS            
    Cash and cash equivalents   $ 46,220     $ 42,502     $ 53,753  
    Securities available-for-sale, at fair value     286,620       297,028       265,191  
    Securities held to maturity     32,038       33,076       33,217  
    Other investments     17,605       17,791       17,908  
    Loans, net     1,612,503       1,570,517       1,540,428  
    Real estate owned, net     —       —       593  
    Interest and dividends receivable     8,746       8,014       8,001  
    Premises and equipment, net     28,805       29,486       31,696  
    Right-of-use assets     22,778       23,470       24,454  
    Bank owned life insurance     22,638       22,519       22,153  
    Other assets     14,253       16,280       30,393  
    Total assets   $ 2,092,206     $ 2,060,683     $ 2,027,787  
                 
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Liabilities            
    Deposits   $ 1,387,241     $ 1,343,320     $ 1,291,184  
    Advances from the Federal Home Loan Bank     334,000       339,500       342,500  
    Advances by borrowers for taxes and insurance     9,743       9,356       9,368  
    Lease liabilities     24,490       25,168       26,081  
    Other liabilities     10,069       11,141       8,498  
    Total liabilities     1,765,543       1,728,485       1,677,631  
    Shareholders’ equity     326,663       332,198       350,156  
    Total liabilities and shareholders’ equity   $ 2,092,206     $ 2,060,683     $ 2,027,787  
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Operations
    (Dollars in Thousands Except Per Share Data) (Unaudited)
     
        Three months ended
        March 31, 2025   December 31, 2024   March 31, 2024
        (Dollars in thousands)
    Interest income:            
    Loans   $ 18,892     $ 17,777     $ 17,192  
    Taxable investment income     3,785       3,972       3,614  
    Non-taxable investment income     36       36       36  
    Total interest income     22,713       21,785       20,842  
    Interest expense:            
    Deposits     9,026       9,573       8,413  
    Borrowed funds     2,943       2,739       3,012  
    Total interest expense     11,969       12,312       11,425  
    Net interest income     10,744       9,473       9,417  
    Provision for (release of) credit losses     201       (301 )     (535 )
    Net interest income after provision for (release of) credit losses     10,543       9,774       9,952  
    Non-interest income:            
    Fees and service charges     243       306       329  
    Gain on sale of loans     —       —       36  
    Other income     151       114       86  
    Total non-interest income     394       420       451  
    Non-interest expense:            
    Compensation and employee benefits     7,838       6,943       7,549  
    Occupancy and equipment     2,303       2,194       2,192  
    Data processing     1,487       1,514       1,387  
    Advertising     67       81       72  
    Professional services     699       737       730  
    Federal deposit insurance     223       226       199  
    Other     1,012       1,186       1,113  
    Total non-interest expense     13,629       12,881       13,242  
    Loss before income tax expense     (2,692 )     (2,687 )     (2,839 )
    Income tax expense     —       —       —  
    Net loss   $ (2,692 )   $ (2,687 )   $ (2,839 )
    Basic loss per share   $ (0.13 )   $ (0.13 )   $ (0.13 )
    Diluted loss per share   $ (0.13 )   $ (0.13 )   $ (0.13 )
    Weighted average shares outstanding            
    Basic     20,404,941       20,826,845       22,095,260  
    Diluted (1)     20,404,941       20,826,845       22,095,260  
    (1) The assumed vesting of outstanding restricted stock units had an anti-dilutive effect on diluted earnings per share due to the Company’s net loss for the 2025 and 2024 periods.
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Financial Highlights
    (Dollars in Thousands Except Per Share Data) (Unaudited)
     
        Three months ended
        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (Dollars in thousands)
    Performance Ratios (%):                    
    Loss on average assets     (0.53 )     (0.52 )     (0.79 )     (0.47 )     (0.56 )
    Loss on average equity     (3.29 )     (3.17 )     (4.68 )     (2.71 )     (3.23 )
    Interest rate spread (1)     1.62       1.40       1.29       1.43       1.40  
    Net interest margin (2)     2.16       1.89       1.82       1.96       1.92  
    Efficiency ratio (3) (4)     122.36       130.20       140.04       130.73       134.19  
    Average interest-earning assets to average interest-bearing liabilities     120.01       120.84       121.37       122.28       122.50  
    Tangible equity to tangible assets (4)     15.61       16.11       16.50       16.88       17.25  
    Book value per share (5)   $ 14.82     $ 14.75     $ 14.76     $ 14.70     $ 14.61  
    Tangible book value per share (4) (5)   $ 14.81     $ 14.74     $ 14.74     $ 14.69     $ 14.60  
                         
    Asset Quality:                    
    Non-performing loans   $ 5,723     $ 5,104     $ 5,146     $ 6,208     $ 6,691  
    Real estate owned, net     —       —       —       —       593  
    Non-performing assets   $ 5,723     $ 5,104     $ 5,146     $ 6,208     $ 7,284  
    Allowance for credit losses to total loans (%)     0.81       0.83       0.84       0.84       0.88  
    Allowance for credit losses to non-performing loans (%)     229.81       254.02       252.86       209.84       205.48  
    Non-performing loans to total loans (%)     0.35       0.33       0.33       0.40       0.43  
    Non-performing assets to total assets (%)     0.27       0.25       0.25       0.30       0.36  
    Net charge-offs to average outstanding loans during the period (%)     —       —       —       —       —  
    (1) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (2) Net interest margin represents net interest income divided by average interest-earning assets.
    (3) Efficiency ratio represents adjusted non-interest expense divided by the sum of net interest income plus non-interest income.
    (4) See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    (5) March 31, 2025 per share metrics computed using 22,047,649 total shares outstanding.
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Analysis of Net Interest Income
    (Dollars in Thousands) (Unaudited)
     
        Three Months Ended,
        March 31, 2025   December 31, 2024   March 31, 2024
        Average Balance   Interest   Average Yield/Cost   Average Balance   Interest   Average Yield/Cost   Average Balance   Interest   Average Yield/Cost
        (Dollars in thousands)
    Assets:                                    
    Loans (1)   $ 1,601,262   $ 18,892   4.72 %   $ 1,557,342   $ 17,777   4.57 %   $ 1,555,534   $ 17,192   4.45 %
    Mortgage-backed securities     189,820     1,323   2.79 %     185,382     1,254   2.71 %     160,349     876   2.20 %
    Other investment securities     163,590     1,689   4.13 %     164,392     1,573   3.83 %     183,717     1,652   3.62 %
    FHLB stock     17,680     399   9.02 %     17,153     411   9.58 %     20,123     492   9.83 %
    Cash and cash equivalents     43,195     410   3.80 %     68,536     770   4.50 %     51,561     630   4.92 %
    Total interest-earning assets     2,015,547     22,713   4.51 %     1,992,805     21,785   4.37 %     1,971,284     20,842   4.25 %
    Non-interest earning assets     61,518             61,586             59,357        
    Total assets   $ 2,077,065           $ 2,054,391           $ 2,030,641        
    Liabilities and shareholders’ equity:                                    
    NOW, savings, and money market deposits   $ 619,234     2,031   1.33 %   $ 614,623     1,988   1.29 %   $ 616,169     1,937   1.26 %
    Time deposits     712,796     6,995   3.98 %     698,801     7,585   4.32 %     619,220     6,476   4.21 %
    Interest-bearing deposits     1,332,030     9,026   2.75 %     1,313,424     9,573   2.90 %     1,235,389     8,413   2.74 %
    FHLB advances     347,394     2,943   3.39 %     335,686     2,739   3.26 %     373,874     3,012   3.24 %
    Total interest-bearing liabilities     1,679,424     11,969   2.89 %     1,649,110     12,312   2.97 %     1,609,263     11,425   2.86 %
    Non-interest bearing deposits     25,411             24,945             26,491        
    Non-interest bearing other     40,679             43,016             41,569        
    Total liabilities     1,745,514             1,717,071             1,677,323        
    Total shareholders’ equity     331,551             337,320             353,318        
    Total liabilities and shareholders’ equity   $ 2,077,065           $ 2,054,391           $ 2,030,641        
    Net interest income       $ 10,744           $ 9,473           $ 9,417    
    Net interest rate spread (2)           1.62 %           1.40 %           1.39 %
    Net interest margin (3)           2.16 %           1.89 %           1.92 %
    (1) Average loan balances are net of deferred loan fees and costs, premiums and discounts and include non-accrual loans.
    (2) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (3) Net interest margin represents net interest income divided by average interest-earning assets.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Supplemental Information – Non-GAAP Financial Measures
    (Unaudited)

    This press release contains certain supplemental financial information, described in the table below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”) that management uses in its analysis of Blue Foundry’s performance. Management believes these non-GAAP financial measures provide information useful to investors in understanding Blue Foundry’s financial results. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results and Blue Foundry strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Net income, as presented in the Consolidated Statements of Operations, includes the provision for credit losses and income tax expense, while pre-provision net revenue does not.

        Three months ended
        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (Dollars in thousands, except per share data)
    Pre-provision net revenue and efficiency ratio:                        
    Net interest income   $ 10,744     $ 9,473     $ 9,087     $ 9,573     $ 9,417  
    Other income     394       420       387       536       451  
    Total revenue     11,138       9,893       9,474       10,109       9,868  
    Operating expenses     13,629       12,881       13,267       13,215       13,242  
    Pre-provision net loss   $ (2,491 )   $ (2,988 )   $ (3,793 )   $ (3,106 )   $ (3,374 )
    Efficiency ratio     122.4 %     130.2 %     140.0 %     130.7 %     134.2 %
                         
    Core deposits:                    
    Total deposits   $ 1,387,241     $ 1,343,320     $ 1,318,670     $ 1,311,156     $ 1,291,184  
    Less: time deposits     726,908       707,339       701,262       671,478       642,372  
    Core deposits   $ 660,333     $ 635,981     $ 617,408     $ 639,678     $ 648,812  
    Core deposits to total deposits     47.6 %     47.3 %     46.8 %     48.8 %     50.2 %
                         
    Total assets   $ 2,092,206     $ 2,060,683     $ 2,055,093     $ 2,045,452     $ 2,027,787  
    Less: intangible assets     189       244       300       386       473  
    Tangible assets   $ 2,092,017     $ 2,060,439     $ 2,054,793     $ 2,045,066     $ 2,027,314  
                         
    Tangible equity:                    
    Shareholders’ equity   $ 326,663     $ 332,198     $ 339,299     $ 345,597     $ 350,156  
    Less: intangible assets     189       244       300       386       473  
    Tangible equity   $ 326,474     $ 331,954     $ 338,999     $ 345,211     $ 349,683  
                         
    Tangible equity to tangible assets     15.61 %     16.11 %     16.50 %     16.88 %     17.25 %
                         
    Tangible book value per share:                    
    Tangible equity   $ 326,474     $ 331,954     $ 338,999     $ 345,211     $ 349,683  
    Shares outstanding     22,047,649       22,522,626       22,990,908       23,505,357       23,958,888  
    Tangible book value per share   $ 14.81     $ 14.74     $ 14.74     $ 14.69       14.60  

    The MIL Network –

  • MIL-OSI: CERo Therapeutics Holdings, Inc. Announces TriStar Centennial Medical Center as a Clinical Trial Site for its Phase 1 Clinical Trial of CER-1236 in Acute Myeloid Leukemia

    Source: GlobeNewswire (MIL-OSI)

    SOUTH SAN FRANCISCO, Calif., April 30, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc., (Nasdaq: CERO) (“CERo” or the “Company”) an innovative immunotherapy company seeking to advance the next generation of engineered T cell therapeutics that employ phagocytic mechanisms, announces that TriStar Centennial Medical Center, through Sarah Cannon Research Institute (SCRI), in Nashville, Tennessee, is a clinical trial site for the Company’s Phase 1 clinical of CER-1236. Collaborating with SCRI to advance cancer research, TriStar Centennial offers innovative clinical research trials for various disease indications. The trial is focused on patients with acute myeloid leukemia (AML), and patient enrollment is underway, with expected dosing of the first patient during the first half of 2025. 

    Stephen Strickland, Jr., M.D., MSCI, Director of Leukemia Research for SCRI, an investigator on the trial, commented, “In preclinical studies, CER-1236 was demonstrated to have a multifunctional approach to killing cancer cells, without sacrificing healthy cells.  We believe that this novel mechanism of action may have significant impact on the way we treat cancer and are looking forward to participating in the clinical studies to investigate that possibility.”

    The first-in-human, multi-center, open label, Phase 1/1b study is designed to evaluate the safety and preliminary efficacy of CER-1236 in patients with acute myeloid leukemia that is either relapsed/refractory, has measurable residual disease, or has a mutation of the TP53 gene. The two-part study will begin with dose escalation to determine highest tolerated dose and recommended dose for Phase 2, followed by an expansion phase to evaluate safety and efficacy.  Primary outcome measures include incidence of adverse events (AEs) and serious adverse events (SAEs), incidence of dose limited toxicities and estimation of overall response rate (ORR), complete response (CR), composite complete response (cCR), and measurable residual disease (MRD).  Secondary outcome measures include pharmacokinetics (PK).

    Chris Ehrlich, CERo Therapeutics CEO added, “The rapid uptake of clinical trial site partners is a testament to both the scientific work performed to date with CER-1236 and the dedication and acumen of the teams at CERO and the research institutions where the trial will be conducted. It is well known that the assignment of clinical trial sites is a central milestone, and the prestige TriStar Centennial Medical Center, through SCRI, brings to the trial cannot be over-emphasized.  We look forward to announcing enrollment and initial dosing in the near term.”

    About CERo Therapeutics Holdings, Inc.

    CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo anticipates initiating clinical trials for its lead product candidate, CER-1236, in 2025 for hematological malignancies.

    Forward-Looking Statements

    This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo and the implementation of its proposed plan of compliance with Nasdaq continued listing standards. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.

    Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 15, 2025, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Contact:
    Chris Ehrlich
    Chief Executive Officer
    chris@cero.bio

    Investors:
    CORE IR
    investors@cero.bio

    The MIL Network –

  • MIL-OSI: Banco Santander-Chile Announces First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, April 30, 2025 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results1 for the three-month period ended March 31, 2025, and first quarter 2025 (1Q25).

    Solid financial performance with a ROAE2of 25.7% in 1Q253, the fourth consecutive quarter with a ROAE of over 20%.

    As of March 31, 2025, the bank’s net income attributable to shareholders totaled $278 billion ($1.47 per share and $0.62 per ADR), representing a 131.0% YoY4 increase and an ROAE of 25.7%, compared to an ROAE of 11.2% in 1Q24. The increase in results is explained by an increase in the bank’s main revenue lines. Operating income increased 33.2% YoY, driven by better net interest and readjustment income.

    Compared to the previous quarter, 4Q24, the bank’s net income attributable to shareholders increased by 0.5%. The UF variation in 1Q25 was slightly lower than in 4Q24, which reduced QoQ5 readjustment gains. This was offset by higher fees and results from financial transactions and improved expense control. This resulted in a ROAE of 25.7% in 1Q25, marking the fourth consecutive quarter with ROAEs above 20%.

    Dividend payment of Ch$3.19 per share with a dividend yield of 5.4%. A solid CET1 ratio6of 10.7%.

    At our Ordinary Shareholders’ Meeting on April 22, 2025, the distribution of 70% of our 2024 earnings, amounting to $857,623 million, was approved. These earnings represent a dividend of $3.18571574 Chilean pesos per share, for a total of $600,336 million.

    Likewise, it was approved that the remaining 30% be partially allocated to increasing the Accumulated Earnings from previous years by the amount necessary to cover the payment of the next three interest coupons on the fixed-term bonds for $29.993 billion and to increase the Bank’s Reserves and Other Retained Earnings by $227.294 billion.

    Our CET1 ratio remains at a solid 10.7% at the end of March 2025, with the overall Basel III ratio reaching 16.9%. The Bank’s capital includes a dividend payment provision of 70% of 2024 earnings and a 60% provision of 2025 earnings to date.

    Strong recovery of NIM7, reaching 4.1% in 1Q25

    Net interest and readjustment income (NII) accumulated as of March 31, 2025, increased 41.7% compared to the same period in 2024. This increase in NII was due to higher net interest income due to the impact of a lower monetary policy rate on our funding cost, which fell from 5.3% to 3.9% in 3M25. The increase is also explained by higher readjustment income, resulting from a greater variation in the UF during the quarter compared to the same quarter last year.

    Compared to 4Q24, net interest and readjustment income decreased slightly due to lower inflation in 1Q25 compared to the previous quarter.

    Given the above, the NIM increased from 2.7% in 1Q24 to 4.2% in 4Q24 to 4.1% in 1Q25.

    Gravity: Migration of our systems to the cloud. Best-in-class efficiency8of 35.0% in 1Q25.

    In 1Q25, the Bank celebrated the major milestone of the Gravity project, the migration from the Mainframe to the Cloud. In January, we transitioned processing to our new Cloud, which resulted in higher technology expenses related to the change and write-downs and impairments related to legacy systems.

    The Bank’s efficiency ratio reached 35.0% as of March 31, 2025, better than the 47.4% of the same period in the previous year. Total operating expenses (which include other expenses) decreased 1.7% in 3M25 compared to 3M24, driven by lower other operating expenses related to the restructuring of our branch network and the transformation to Work/Café.

    The customer base continues to expand, with total customers increasing by 9.4% YoY and digital customers increasing by 6.6% YoY.

    Our strategy of strengthening our digital products has led to continued growth in our customer base, reaching approximately 4.3 million customers, of which nearly 2.3 million are digital customers (88% of our active customers).

    The Bank’s market share in checking accounts remains strong at 22.5% through February 2025, driven by increased customer demand for US dollar checking accounts, as customers can open these types of accounts digitally through our platform in a few easy steps. This also demonstrates the success of Getnet’s strategy to encourage cross-selling of other products such as the Cuenta Pyme Life.

    Net commissions increased by 16.8% in 3M25, reaching recurrence levels9of 61.8%.

    Net commissions increased 16.8% in the three months ended March 31, 2025, compared to the same period in 2024, driven by increased customer numbers and greater product usage. As a result, the recurrence ratio (total net commissions divided by structural support expenses) increased from 57.8% as of March 2024 to 61.8% as of March 2025, demonstrating that more than half of the Bank’s expenses are financed by commissions generated by our customers.

    Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard & Poor’s, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.

    As of March 31, 2025, the bank had total assets of Ch$67,059,423 million (US$70,284 million), total gross loans (including those owed by banks) at amortized cost of Ch$41,098,666 million (US$43,075 million), total deposits of Ch$30,607,715 million (US$32,080 million), and bank owners’ equity of Ch$4,400,233 million (US$4,612 million). The BIS capital ratio was 16.9%, with a core capital ratio of 10.7%. As of March 31, 2025, Santander Chile employed 8,712 people and had 237 branches throughout Chile.

    CONTACT INFORMATION
    Cristian Vicuña
    Chief Strategy Officer and Head of Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl Website: www.santander.cl

    1 The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
    2 Annualized net income attributable to shareholders of the Bank divided by the average equity attributable to equity holders
    3 The first quarter of 2025
    4 Year on year.
    5 Quarter on quarter
    6 Common Equity Tier 1 under Chilean regulation.
    7 NIM: Net interest margin. Net interest income and annualized adjustments divided by interest-earning assets.
    8 Efficiency: operating expenses including impairment and other operating expenses/ financial margin + fees+ financial transactions and net other operating income.
    9 Recurrence: net commissions divided bycore support costs.

    The MIL Network –

  • MIL-OSI: Rigetti Computing Closes Investment by Quanta Computer

    Source: GlobeNewswire (MIL-OSI)

    BERKELEY, Calif., April 30, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, announced today that it has closed the previously announced investment by Quanta Computer Inc. (“Quanta”, TWSE: 2382.TW) related to their strategic collaboration agreement. In connection with the closing, Quanta purchased approximately $35 million of shares of Rigetti common stock at approximately $11.59 per share.

    “We are pleased to take this next step in our strategic collaboration with Quanta,” says Dr. Subodh Kulkarni, Rigetti CEO. “Quanta’s world-leading expertise in notebook and server manufacturing paired with Rigetti as a pioneer in superconducting quantum computing will help put us at the forefront of the quantum computing industry.”

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at https://www.rigetti.com/.

    Rigetti Media Contact
    press@rigetti.com

    Cautionary Language and Forward-Looking Statements
    Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including statements with respect to the Company’s future success and performance, including expectations with respect to timing of the development and commercialization of superconducting quantum computing; expectations regarding the advantages and impact of the strategic collaboration agreement with Quanta on the Company’s operations, technology roadmap, milestones, and the Company’s position in the industry. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company’s partnerships and collaborations, including the strategic collaboration with Quanta; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

    The MIL Network –

  • MIL-OSI: authID to Report First Quarter 2025 Financial Results on May 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 30, 2025 (GLOBE NEWSWIRE) — authID® (Nasdaq: AUID) (“authID”), a leading provider of biometric identity verification and authentication solutions, today announced the Company will report financial results for the first quarter ended March 31, 2025 on Thursday, May 13, 2025, after the market close. Following issuance of the earnings release, authID Chief Executive Officer Rhon Daguro and Chief Financial Officer Ed Sellitto will host a webcast at 5:00 p.m. ET to discuss the financial results and provide a corporate update.

    To participate on the live conference call, please access this registration link and you will be provided with dial-in details. To avoid delays, participants are encouraged to dial into the conference call 15 minutes ahead of the scheduled start time. A live webcast of the call will also be available here and on the “Events & Presentations” page of the Company’s website at investors.authid.ai. Only participants on the live conference call will be able to ask questions.

    A replay of the event and a copy of the presentation will also be available for 90 days at authID’s Investor Relations Events.

    About authID Inc.

    authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.

    For further information please visit authid.ai

    Media Contacts

    NextTech Communications

    Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contact
    Investor-Relations@authid.ai

    The MIL Network –

  • MIL-OSI: Indonesia Energy Files 2024 Annual Report and Provides an Update on Operations and Planned Drilling During the Remainder of 2025

    Source: GlobeNewswire (MIL-OSI)

    2024 investments in seismic and other exploration work at Kruh Block set the stage for new drilling in the second half of 2025

    JAKARTA, INDONESIA AND DANVILLE, CA, April 30, 2025 (GLOBE NEWSWIRE) — Indonesia Energy Corporation (NYSE American: INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it has filed today its annual report on Form 20-F which contains its financial and operating results for the year ended December 31, 2024.

    Also provided in that report is an update on IEC’s planned drilling activity for the second half of 2025. During 2024, IEC curtailed drilling activity at its Kruh Block asset in lieu of investing in seismic and other exploration work intended to maximum the return on new drilling. That drilling is expected to commence in the second half of 2025, as IEC plans to drill at least one new well this year as part of its multi-year program to drill 18 new wells at Kruh Block.

    Mr. Frank Ingriselli, IEC’s President, commented “We are pleased to have filed our year end 2024 annual report, which shows our investments in Kruh Block as we look to recommence drilling activity this year. We believe our seismic data in hand will make our drilling even more effective and help us maximize the returns from this important asset.”

    More information regarding IEC’s financial and operating results for the years ended December 31, 2024 and 2023, including IEC’s full audited financial statements and footnotes, can be found in IEC’s annual report on Form 20-F which was filed earlier today with the Securities and Exchange Commission and is available on IEC’s website at: https://ir.indo-energy.com/sec-filings/

    A hard copy of the annual report is also available to be sent free of charge by contacting IEC at the following link: https://indo-energy.com/contact/

    About Indonesia Energy Corporation Limited

    Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this press release, and related statements of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, the words “could,” “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without imitation those related to IEC’s future drilling plans at Kruh Block. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov and IEC’s website at https://ir.indo-energy.com/sec-filings/. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    Frank C. Ingriselli
    President, Indonesia Energy Corporation Limited
    Frank.Ingriselli@Indo-Energy.com

    The MIL Network –

  • MIL-OSI: LeddarTech to Announce Second Quarter 2025 Financial Results and Host Investor and Business Update Call on May 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, April 30, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-powered low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, announced today that it plans to release its second quarter 2025 financial results before the market opens on Wednesday, May 14, 2025. It will host an Investor and Business Update conference call and webcast on the same day at 8:00 a.m. ET. Frantz Saintellemy, President and Chief Executive Officer, and Chris Stewart, Chief Financial Officer, will be participating in the call.

    The conference call can be accessed in the U.S. by dialing (646) 307-1963 and via (800) 715-9871 for international callers. The conference ID is 1293674. Interested parties may also  register for the live webcast, which will be archived on  LeddarTech’s Investor Relations website  following the event.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.

    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network –

  • MIL-OSI: Infinidat’s InfiniBox® G4 Family Named One of the TOP 5 Cybersecure Sub-10PB NAS Solutions for Enterprises by Storage Analyst Firm DCIG

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., April 30, 2025 (GLOBE NEWSWIRE) — Infinidat, a leading provider of enterprise storage solutions, today announced that leading storage industry analyst firm DCIG has named Infinidat’s InfiniBox® G4 family as one of the world’s TOP 5 cybersecure sub-10PB NAS solutions. This DCIG TOP 5 report identifies Infinidat’s InfiniSafe® Automated Cyber Protection (ACP), InfiniSafe Cyber Detection, and InfiniVerse® platform as the key factors that “distinguish the Infinidat InfiniBox G4 from the other TOP 5 solutions.” The report entitled “2025-26 DCIG TOP 5 Cybersecure NAS Solutions Sub-10PB Report” is available now.

    “Infinidat’s InfiniSafe next-generation data protection capabilities that are built into our InfiniBox G4 systems to deliver cyber storage resilience and guaranteed cyber recovery are game-changing. With the InfiniBox G4’s guaranteed recovery time objective (RTO) of one minute or less, regardless of dataset size, Infinidat is providing the ultimate in cyber business continuity. This recognition by DCIG of the power of our cybersecure solutions reinforces our strong leadership position as a top innovator securing cyber storage for the high-end enterprise market,” said Eric Herzog, CMO at Infinidat. “This significant accolade for our next-gen InfiniBox G4 solutions dovetails identically with the increasing awareness among enterprise CIOs and CISOs that their storage infrastructure must go to the next level of being cybersecure. Infinidat is an ideal cyber storage solution for enterprise customers and service provider communities.”

    Jerome Wendt, Principal Analyst at DCIG, said, “DCIG’s TOP 5 report provides organizations with guidance on the best cybersecure sub-10PB NAS solutions available today. Cybersecurity has now become core to NAS solutions, with cyber criminals continuously attacking NAS solutions, especially during ransomware attacks. To protect critical enterprise data from these malicious attacks, it has become essential for NAS solutions to be cybersecure. Bolstered by its InfiniSafe software, Infinidat’s InfiniBox G4 family meets a real need in the enterprise market and, with the NAS market still growing, cybersecure NAS solutions will only become more necessary over time for enterprises to deploy.”

    Valued at approximately $40 billion in 2024, the NAS market is expected to grow to nearly $130 billion by 2032, according to projections by Fortune Business Insights. Approximately 80% of organizations are currently using NAS solutions. In addition, almost all file systems that organizations use support either the NFS or SMB network file protocols available on NAS solutions. Utilizing next-generation data protection capabilities for cyber storage resilience along with file system protocols that are commonly used in enterprises reduces risk and provides a higher level of assurance.

    Citing Infinidat’s multi-protocol support in its storage operating system, the DCIG report states: “As a unified platform, InfiniBox G4’s InfuzeOS operating system simultaneously supports both block (FC/iSCSI) and file (NFS/SMB) protocols, with Object coming in 2H 2025. InfuzeOS implements and distributes file services across all InfiniBox controllers, thereby eliminating controller ownership of directories and files. Utilizing InfiniBox’s mesh architecture improves performance as all controllers actively participate in file system activities.”

    Cyber Storage Resilience Built into the InfiniBox G4 Family

    The DCIG report delves into the differentiating factors that make Infinidat’s InfiniBox G4 solutions special for cybersecure NAS, including:

    • InfiniSafe Automated Cyber Protection (ACP). – DCIG describes this unique ACP capability as an advancement in cybersecurity. The analyst report states: “InfiniBox’s InfiniSafe ACP functions as a ‘listener’ for multiple existing cyber security software applications. These applications include syslog, Security Information and Event Management (SIEM), and Security Orchestration, Automation and Response (SOAR), among others. If these applications generate a security alert or notification, these events can trigger InfiniBox to take an immutable snapshot. Once taken, InfiniBox retains the immutable snapshot for no less than three days.” ACP can be used as a SOAR application itself.
    • InfiniSafe Cyber Detection – DCIG touts Infinidat’s cyber detection capability as essential for identifying a known clean copy of data to recover near-instantaneously in the wake of a cyberattack. The report states: “InfiniSafe Cyber Detection utilizes AI and ML technologies to detect cyber incidents. InfiniSafe Cyber Detection works in conjunction with InfiniSafe ACP to automatically queue up immutable snapshots for scanning. InfiniSafe Cyber Detection then does a forensic, full-content analysis of these snapshots. It examines them for data corruption, fingerprints of latent data corruption attacks, and other cyber issues. Its analysis helps identify compromised data, good known copies of data, and insights into the origins of any compromised data.”
    • InfiniVerse platform – DCIG recognizes InfiniVerse for its added value as a data services-oriented platform to support and optimize cybersecure storage. The report states: “Infinidat includes its cloud-based InfiniVerse platform that helps monitor, manage, and optimize storage services on the InfiniBox. InfiniVerse collects millions of data points across Infinidat’s global install base and analyzes this information in real-time. This collected data powers InfiniVerse’s AIOps and DevOps capabilities to provide infrastructure-wide predictive analytics, monitoring, and reporting on capacity and performance.”

    To download the DCIG report, click here.

    About Infinidat
    Infinidat provides enterprises and service providers with a platform-native primary and secondary storage architecture that delivers comprehensive data services based on InfiniVerse®. This unique platform delivers outstanding IT operating benefits, support for modern workloads across on-premises and hybrid multi-cloud environments. Infinidat’s cyber resilient-by-design infrastructure, consumption-based performance, 100% availability, and cyber security guaranteed SLAs align with enterprise IT and business priorities. Infinidat’s award-winning platform-native data services and acclaimed white glove service are continuously recommended by customers. For more information, visit www.infinidat.com.

    Connect with Infinidat
    About Infinidat
    Read our blog
    Follow us on X
    Join us on LinkedIn
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    Be our partner

    Media Contact
    Infinidat
    Sapna Capoor
    Director of Global Communications
    scapoor@infinidat.com I Mobile: +44 (0) 7789684159

    The MIL Network –

  • MIL-OSI: Safe Harbor Financial Expands Executive Leadership Team with Appointments of Jeffrey Kay as SVP of Marketing and Dominic Marella as VP of Business Development

    Source: GlobeNewswire (MIL-OSI)

    GOLDEN, Colo., April 30, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (Nasdaq: SHFS), a fintech leader providing financial services and credit facilities to the regulated cannabis industry, announced two strategic appointments to its leadership team: Jeffrey Kay as senior vice president of Marketing and the return of Dominic Marella as vice president of Business Development.

    Together, Kay and Marella will play key roles in expanding Safe Harbor’s national footprint, enhancing client services and elevating brand visibility—supporting the Company’s mission to deliver compliant, scalable and technology-driven financial solutions to cannabis-related businesses (CRBs).

    “Safe Harbor is entering a new phase of accelerated growth, innovation and market leadership,” said Terry Mendez, CEO of Safe Harbor Financial. “The appointments of Jeff and Dom represent a strategic investment in both our brand and business development engine. Jeff’s marketing acumen and Dominic’s deep relationships and experience across the cannabis sector give us an unmatched edge in serving the evolving needs of cannabis operators and financial institutions.”

    Jeffrey Kay, a seasoned marketing executive with over 30 years of experience, most recently served as chief marketing officer at AMMA Investments, a vertically integrated multi-state cannabis operator. He previously founded Brandfan, a marketing agency with a diverse client roster across cannabis, retail, technology and consumer goods. In his new role, Kay will lead integrated marketing strategy, brand development and go-to-market execution, driving demand generation, sales enablement and strategic partnerships.

    “I’m honored to join Safe Harbor at such a pivotal time,” said Jeff Kay, senior vice president of Marketing. “The opportunity to shape the strategic evolution of the brand and drive measurable results for our clients and partners is incredibly exciting.”

    Dominic Marella rejoins Safe Harbor following nearly two years of entrepreneurial and fintech leadership outside the organization. A veteran of the commodities and derivatives sector, Marella brings deep experience navigating highly regulated industries. He previously led the cannabis vertical at Paro, a digital-first accounting platform, where he supported cannabis entrepreneurs navigating Illinois’ adult-use dispensary licensing process. As vice president of business development at Abaca—a company acquired by Safe Harbor in 2022—Marella led national sales efforts and was instrumental in integrating cannabis financial solutions post-acquisition. Most recently, he ran CannaTech Ventures, an incubator helping launch innovative cannabis technology startups.

    “Returning to Safe Harbor feels like a homecoming,” added Dominic Marella, vice president of Business Development. “Our team has a powerful mission and a clear opportunity to help lead financial innovation in the cannabis sector. I’m excited to capitalize on our strong foundation—partnering with operators, legacy businesses and newcomers to the space to deliver scalable, tech-forward financial solutions.”

    Key initiatives under Kay’s leadership include a brand refresh, a comprehensive demand-generation strategy and a new partnership marketing program. Marella will focus on expanding Safe Harbor’s business development operations nationally, with an emphasis on strategic client acquisition, channel partnerships and tailored financial solutions that meet the unique needs of cannabis operators navigating complex regulatory frameworks.

    Both Kay and Marella join the Company with equity-based incentives, aligning their long-term interests with those of shareholders.

    About Safe Harbor
    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

    Cautionary Statement Regarding Forward-Looking Statements
    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Safe Harbor Investor Relations Contact
    Mike Regan, head of Safe Harbor Investor Relations
    ir@SHFinancial.org

    Safe Harbor Media Relations Contact
    Ellen Mellody
    safeharbor@kcsa.com
    570-209-2947

    The MIL Network –

  • MIL-OSI: StarTree Unveils AI-Native Real-Time Analytics and Launches Bring Your Own Kubernetes (BYOK) to Power the Next Generation of Enterprise Intelligence

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., April 30, 2025 (GLOBE NEWSWIRE) — StarTree, the cloud-based real-time analytics company, today announced two new powerful AI-native innovations to its real-time data platform for enterprise workloads: Model Context Protocol (MCP) support and vector embedding model hosting. These capabilities enable StarTree to power agent-facing applications, real-time Retrieval-Augmented Generation (RAG), and conversational querying at the speed, freshness, and scale enterprise AI systems demand.

    “The next wave of AI innovation will be driven by real-time context—understanding what’s happening now,” said Kishore Gopalakrishna, Co-founder and CEO of StarTree. “StarTree’s heritage as a real-time analytics foundation perfectly complements where AI is going by delivering fresh insights at scale. What is changing is the shift from apps as the consumer to autonomous agents.”

    AI is only as powerful as the information architecture behind it. Just as the cloud forced a fundamental redesign of enterprise data systems—AI is now triggering a similarly profound shift. As agentic systems emerge, traditional data architectures—designed for internal users who accept slow queries and stale data—can no longer keep up. Agentic AI demands sub-second query speeds, real-time context awareness, and the ability to support swarms of autonomous agents working in parallel. This marks a fundamental shift in the role of data platforms—from static storage to dynamic engines that can aid agents in completing tasks.

    StarTree has long delivered on this promise, powering millions of low-latency queries per second on the freshest data available. But new capabilities were needed to extend this foundation and fully unlock the next generation of AI-native applications. New features launching include:

    • Model Context Protocol (MCP) support: MCP is a standardized way for AI applications to connect with and interact with external data sources and tools. It allows Large Language Models (LLMs) to access real-time insights in StarTree in order to take actions beyond their built-in knowledge. Availability: June 2025
    • Vector Auto Embedding: Simplifies and accelerates the vector embedding generation and ingestion for real-time RAG use cases based on Amazon Bedrock. Availability: Fall 2025

    The StarTree platform now supports:

    • Agent-Facing Applications – By supporting the emerging Model Context Protocol (MCP), StarTree allows AI agents to dynamically analyze live, structured enterprise data. With StarTree’s high-concurrency architecture, enterprises can support millions of autonomous agents making micro-decisions in real time—whether optimizing delivery routes, adjusting pricing, or preventing service disruptions.
    • Conversational Querying – MCP simplifies and standardizes the integration between LLMs and databases, making natural language to SQL (NL2SQL) far easier and less brittle to deploy. Enterprises can now empower users to ask questions via voice or text and receive instant answers—like a ride-hailing driver asking, “How much money have I made today?” followed by, “What about this month?” and “Where and when am I making the most money?”—with each question building on the last. This kind of seamless, conversational flow requires not just language understanding, but a data platform that can deliver real-time responses with context.
    • Real-Time RAG – StarTree’s new vector auto embedding enables pluggable vector embedding models to streamline the continuous flow of data from source to embedding creation to ingestion. This simplifies the deployment of Retrieval-Augmented Generation pipelines, making it easier to build and scale AI-driven use cases like financial market monitoring and system observability—without complex, stitched-together workflows.

    StarTree Expands Deployment Flexibility with Bring Your Own Kubernetes (BYOK)

    StarTree also announced the general availability of Bring Your Own Kubernetes (BYOK), a new deployment option that gives organizations full control over StarTree’s high-performance analytics infrastructure within their own Kubernetes environments, whether in the cloud, on-premises, or in hybrid architectures.

    With BYOK, enterprises can maintain full governance and control over their infrastructure while still taking advantage of StarTree’s real-time performance and ease of use. This model is ideal for regulated industries such as financial services and healthcare, where strict data residency, compliance, and security policies often prohibit the use of traditional SaaS models. It also delivers a cost-effective solution for organizations with stable, predictable workloads, offering savings on compute and egress fees.

    “Real-time insights are no longer optional, but too often, enterprises are blocked by infrastructure constraints,” said Gopalakrishna. “With BYOK, we remove those barriers. Companies can now deploy StarTree wherever they need it, without compromising on performance, security, or cost control.”

    BYOK joins StarTree’s existing deployment options, which include fully managed SaaS and Bring Your Own Cloud (BYOC), giving customers the flexibility to choose the model that best fits their operational and regulatory requirements. Availability: now in private preview

    Real-Time Analytics Summit 2025: Coming May 14

    StarTree will showcase many of these new innovations during the Real-Time Analytics Summit 2025, a virtual event taking place on May 14. The event will feature speakers from Uber, Netflix, AWS, and more, exploring the future of AI-driven analytics, data infrastructure, and emerging use cases across industries. Attendees will gain valuable insights into how real-time analytics is driving digital transformation across industries, from finance and e-commerce to gaming, cybersecurity, and beyond.

    Supporting Resources

    • To learn more about StarTree’s real-time AI capabilities, read this blog.
    • To learn more about StarTree’s Bring Your Own Kubernetes offering, read this blog.
    • Register for the Real-Time Analytics Summit here.

    About StarTree

    At StarTree, we understand the urgency of the on-demand economy and help businesses like Citi, Stripe, DoorDash, Nubank, Zomato, and Dialpad deliver real-time analytics into their user-facing applications. StarTree Cloud, powered by Apache Pinot™, is a fully-managed real-time analytics Database-as-a-Service (DBaaS). StarTree’s platform is built to power insights for millions of users at massive speed and scale, and a fraction of the cost of alternatives. Whether user-facing apps, or backend APIs and microservices, real-time analytics are now a required component powering internal and customer-facing dashboards. With StarTree, customers unlock the full potential of their data while exceeding millions of user expectations. StarTree is closely partnered with analytics leaders such as AWS, Google Cloud, Microsoft, Confluent, Databricks and others to help customers achieve their real-time analytics goals.

    Additional information may be found at www.startree.ai | Twitter: @startreedata | YouTube: youtube.com/@StarTree | Blog: startree.ai/blog | LinkedIn: linkedin.com/company/startreedata/

    Media Contact:

    Beth Winkowski
    PR for StarTree
    978-649-7189
    beth@winkowskipr.com

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  • MIL-OSI: EDR Killers: What They Are, Why They Matter, and How Organizations Can Stay Protected

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 30, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity, is warning organizations to stay alert as “EDR killers” – tools designed to disable Endpoint Detection and Response (EDR) solutions- grow more accessible and more widely used by ransomware affiliates. While not a new threat, these tools are becoming easier to deploy, making them relevant for enterprises and mid-sized organizations alike.

    An EDR killer works by disabling or impairing EDR agents on compromised machines, blinding defenders and paving the way for attackers to move stealthily and deliver malicious payloads. These tools are typically deployed after initial access has already been achieved, a process that itself should set off multiple alarms in a well-defended environment.

    Once used only by highly skilled threat actors, EDR killers are now distributed by ransomware-as-a-service (RaaS) operators like RansomHub, lowering the technical bar for attackers. Variants range from basic script-based tools to more advanced versions that exploit vulnerable drivers or repurpose legitimate software, like rootkit removal tools, to disable security systems.

    Despite these developments, ESET stresses that EDR killers aren’t cause for panic, but they are a reminder of the importance of strong, layered security. Organizations with solid defences, good detection practices, and well-trained staff remain in a strong position to detect and disrupt these tools before they cause severe damage.

    ESET recommends the following best practices to reduce exposure:

    • Use a hardened, updated EDR solution: Leading tools already detect many known EDR killer behaviours.
    • Restrict user permissions: Prevent users without admin rights from modifying or disabling security controls.
    • Monitor for suspicious downloads and file transfers: Watch for scripts, drivers, or tools commonly used in these attacks.
    • Block Potentially Unsafe Applications (PUSA): Review app control policies to minimize exposure to misused software.
    • Invest in staff training: Phishing awareness and safe file handling are still your first line of defence.

    The rise of EDR killers reflects an evolving cybercrime landscape, where increasingly advanced tools are being commercialized and shared. As attackers adapt their tactics, defenders must do the same. A resilient, multi-layered approach, backed by regular reviews and user education, remains the best strategy for staying ahead.

    ESET continues to track the development of EDR killer tools and their use in real-world attacks. For further insights and technical analysis, visit ESET’s threat research blog, WeLiveSecurity.

    About ESET
    ESET provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of known and emerging cyber threats — securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud or mobile protection, its AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multi-factor authentication. With 24/7 real-time defence and strong local support, we keep users safe and businesses running without interruption. An ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow us on LinkedIn, Facebook, and Twitter.

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  • MIL-OSI: ClearlyRated Acquires Client Savvy, Bolsters Customer Experience Leadership in Professional Services Market

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., April 30, 2025 (GLOBE NEWSWIRE) — ClearlyRated, a leader in client experience (CX) measurement and analytics for professional service firms, today announced its acquisition of Client Savvy, a premier provider of customer feedback software designed for architecture, engineering, construction (AEC) and legal organizations. This strategic merger extends ClearlyRated’s reach across multiple service-based industries, reinforcing its commitment to helping firms harness the power of real-time client insights to drive growth, retention, and competitive differentiation.

    “At ClearlyRated, we believe that client experience is the ultimate differentiator across all professional services,” said Baker Nanduru, CEO of ClearlyRated. “By bringing Client Savvy’s innovative feedback platform into our suite of CX measurement tools, we will help more firms—from staffing and accounting to legal, insurance, IT, AEC and beyond—unlock the potential of data-driven client insights.”

    Industry-Wide Impact of CX

    According to a recent Gartner study, 89% of companies now expect to compete primarily based on client experience, underscoring the critical need for robust CX strategies in professional services. Through this acquisition, ClearlyRated aims to address that need by providing firms with an expanded, end-to-end feedback solution that captures essential client sentiment and translates it into tangible business outcomes.

    “We are proud to support ClearlyRated’s strategic vision to transform client experience and reputation management across professional services,” said Sumit Garg, Founding Partner of Software Growth Partners (SGP). “This acquisition of Client Savvy aligns perfectly with our investment thesis, as it significantly expands ClearlyRated’s technology leadership, industry reach, and ability to deliver measurable business outcomes for client retention and new client acquisition. We look forward to seeing ClearlyRated and Client Savvy jointly accelerate innovation and growth, delivering even greater value to their clients and stakeholders.”

    Why This Acquisition Matters

    Client Savvy has built a strong reputation among its clients for innovative software that captures feedback at key touchpoints, enabling firms to improve project outcomes and client satisfaction. By bringing together Client Savvy’s platform with ClearlyRated’s advanced CX solutions—which include Net Promoter® Score (NPS) surveys, AI-driven analytics, reputation management and benchmarking—this acquisition will deliver:

    • Broader Industry Support – Offering best-in-class CX solutions not only to AEC but also to a full spectrum of professional service industries.
    • Enhanced Technology and Insights – Combining ClearlyRated’s robust analytics and benchmarking capabilities with Client Savvy’s project manager focused feedback tools for more tailored, impactful solutions.
    • Actionable Data for Growth – Empowering firms with a patented client-insight model that enhances NPS insights – revealing 4× more service gaps to reduce churn, increase referrals, and foster long-term success.

    “This is a win for our collective client base,” said Ryan Suydam, Founder of Client Savvy. “ClearlyRated’s expertise in CX analytics and industry benchmarking aligns perfectly with our journey-based approach, ensuring that our customers receive an even more comprehensive suite of tools such as the reputation management platform to elevate their client experience strategies.”

    This acquisition will not impact the Client Savvy brand in the short term. Customers will receive the high level of support and service they have come to expect from both companies.

    For more information about ClearlyRated and its CX solutions, visit clearlyrated.com.

    For more information about ClientSavvy and its CX solutions, visit clientsavvy.com.

    Media Contact:

    Stephen Banbury, VP, Marketing
    ClearlyRated

    stephen.banbury@clearlyrated.com

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  • MIL-OSI: Global-e to Announce Financial Results for the First Quarter 2025 on May 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    PETAH-TIKVA, Israel, April 30, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE), the platform powering global direct-to-consumer e-commerce, today announced it will report financial results for the first quarter ended March 31, 2025, before market open on Wednesday, May 14, 2025.

    Global-e management will host a conference call to review its financial results and outlook.

    Date: Wednesday, May 14, 2025
    Time: 8:00 AM ET
    United States/Canada Toll Free: +1-800-717-1738
    International Toll: +1-646-307-1865
       

    Please join the call 5-10 minutes prior to the scheduled start time, to avoid a delay in connecting. A live webcast will be available in the Investor Relations section of Global-e’s website at https://investors.global-e.com/news-events/events-presentations

    A replay of the webcast will be available in the Investor Relations section of Global-e’s website at https://investors.global-e.com/news-events/events-presentations approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.

    About Global-e Online Ltd.

    Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,400 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

    Investor Contacts:
    Alan Katz
    Investor Relations
    Global-e
    IR@global-e.com

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    IR@global-e.com
    +1 617-542-6180

    Press Contact:
    Sarah Schloss
    Headline Media
    sarah.schloss@headline.media
    +1 914-506-5104

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  • MIL-OSI: Voxtur Announces Financial Results for the Year and Quarter Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO and TAMPA, Fla., April 30, 2025 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, today announced its financial results for the three months and year ended December 31, 2024. The Company’s Audited Consolidated Financial Statements for the year ended December 31, 2024, and the related Management’s Discussion and Analysis (“MD&A”) are available at www.sedarplus.ca and at www.voxtur.com.

    Financial Results:

    Continuing Operations Unaudited   Audited
      Three months ended December 31   Year ended December 31
    (In thousands of Canadian dollars)  2024   2023     2024   2023 
               
    Revenue 1 $ 9,307   $ 9,886     $ 45,737   $ 48,959  
    Gross profit 1   5,391     6,073       28,889     31,527  
    Gross profit as a % of Revenue 1   58%     61%       63%     64%  
               
               

    1 Calculations include only the results from continuing operations and do not include results of discontinued operations. On November 1, 2023, the Company finalized the sale of its wholly owned appraisal management company (“AMC”) business for $35,135 ($25,324 USD). Results of the AMC business are classified as discontinued operations.

    Throughout 2024, the Company remained focused on implementing meaningful operational improvements and driving disciplined cost management. These efforts are reflected in full-year financial results, which show that while total revenue decreased by approximately $3.2 million and total gross profit declined by approximately $2.6 million compared to fiscal 2023, the Company was able to reduce cash used in operations by approximately $13.2 million, being a year-over-year improvement of approximately 46%. The Company anticipates continued improvement in this regard into early 2025 as previously implemented efficiencies take full effect.

    Further discussion with respect to the financial results can be found in the Company’s MD&A available at www.sedarplus.ca and at www.voxtur.com.

    “Despite macroeconomic uncertainty, including persistently high mortgage rates and industry volatility, we are staying focused on the fundamentals we can control — operational efficiency, debt reduction, and strategic execution,” said Ryan Marshall, CEO. “With leadership transitions behind us, we believe 2025 is a pivotal year to reposition the business and unlock long-term value.”

    In connection with the strategic review process announced in January 2025, the Company continues to work closely with its advisor to evaluate a number of opportunities. No material updates are available at this time; however, the Company remains actively engaged in the process of evaluating the economic value and long-term alignment of each of the opportunities in front of us. The Company intends to host a shareholder call once there is material progress to report.

    “We are encouraged by the level of interest in various components of our business and continue to evaluate each opportunity with discipline,” added Marshall. “Our focus remains on pursuing outcomes that are both financially and strategically sound for the company and its stakeholders.”

    About Voxtur

    Voxtur is a proptech company. The company offers targeted data analytics to simplify the multifaceted aspects of the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value real estate assets, providing critical due diligence that enables market participants to effectively originate, trade, or service defaults on mortgage loans. As an independent and transparent mortgage technology provider, the company offers primary and secondary market solutions in the United States and Canada. For more information, visit www.voxtur.com. 

    Forward-Looking Information

    This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities. These forward-looking statements reflect management’s current expectations regarding future events and the Company’s financial and operating performance and speak only as of the date of this press release. By their very nature, forward-looking statements require management to make assumptions and involve significant risks and uncertainties, should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to the anticipated financial performance of the Company and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions, integration of acquired businesses, and implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions related to defaulted mortgage loans, and the failure of clients to send foreclosure and bankruptcy referrals in volumes similar to those prior to the COVID-19 global pandemic; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein. Factors relating to the Company’s financial guidance and targets disclosed in this press release include, in addition to the factors set out above, the degree to which actual future events accord with, or vary from, the expectations of, and assumptions used by, Voxtur’s management in preparing the financial guidance and targets.

    This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.

    Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.

    Company Contact: 

    Jordan Ross
    Tel: (416)708-9764

    jordan@voxtur.com

    The MIL Network –

  • MIL-OSI: Charging Robotics Installs Wireless EV Charging System in Automatic Parking Facility

    Source: GlobeNewswire (MIL-OSI)

    Pioneering seamless EV charging experience for robotic parking systems

    Tel Aviv, Israel, April 30, 2025 (GLOBE NEWSWIRE) — Charging Robotics Inc. (OTC: CHEV), a leading innovator in wireless electric vehicle (EV) charging solutions, announces that it has installed a system for wireless charging of electric vehicles with a leading supplier of robotic parking facilities. Following the installation, the ability of the system to transfer power wirelessly was demonstrated. Eventually, the system is intended to be used for charging EVs while reporting charge data to the cloud and managing the charging process based on available electricity and customer needs.

    This installation marks significant progress in addressing the challenges of EV charging in robotic facilities, where traditional plug-in methods are impractical. The system enables EV owners to charge their electric vehicles seamlessly and efficiently, enhancing user convenience and promoting sustainable urban living.

    The wireless charging solution integrates advanced machine learning and artificial intelligence algorithms to manage and prioritize charging sequences based on factors such as departure times and vehicle types. This ensures optimal energy utilization and readiness of vehicles for users.

    “We are excited to implement our wireless charging technology on-site, marking a major step toward our vision of revolutionizing EV charging in automated parking environments,” said Hovav Gilan, CEO of Charging Robotics. “As the global adoption of electric vehicles accelerates and the demand for space-efficient Automatic and Robotic Parking Systems continues to rise, the need for seamless and scalable charging solutions becomes critical. We believe that Charging Robotics offers unique, innovative wireless technology specifically designed to meet the complex needs of parking infrastructure, regardless of size or layout. Our system bridges the gap between two fast-growing markets, delivering a truly integrated and future-ready solution.”

    The system’s user-friendly interface allows drivers to initiate and monitor the charging process via a dedicated smartphone application, providing real-time updates and billing information.

    About Charging Robotics

    Charging Robotics is developing various automatic wireless charging solutions such as robotic and stationary charging systems for EVs. Robotic solutions are intended to offer the driver the ability to initiate charging by use of a simple smartphone app that instructs an autonomous robot, which navigates under the EV for access and charging capabilities. Our stationary systems offer various charging solutions, including in automatic car parks where the company’s system allowing EVs to charge in places where drivers can’t connect plugs to sockets. For further information, visit: https://www.chargingrobotics.com/

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Charging Robotics’, and its subsidiary Charging Robotics Ltd.’s (together, the “Company”) current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this press release. For example, the Company uses forward looking statements when it discusses its vision of revolutionizing EV charging in automated parking environments, the acceleration of the global adoption of electric vehicle and the rise of the the demand for space-efficient Automatic and Robotic Parking Systems.

    The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of any third-party websites.

    Investor Relations Contact:

    Michal Efraty
    Investor Relations
    michal@efraty.com 

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  • MIL-OSI: UAB “Atsinaujinančios energetikos investicijos” publishes its factsheet for the first quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    UAB “Atsinaujinančios energetikos investicijos” (the Company) publishes its factsheet, providing information about the Company’s investment portfolio, key events, business strategy, operating segments, and financial indicators as of 31 March 2025.

    2025 Q1 KEY EVENTS

    • Total aggregated 2025 YTD Revenue and YTD EBITDA amounted to 2,437 kEUR and 1,226 kEUR, respectively.
    • Following the issuance of its audited financial statements for 2024, UAB “Atsinaujinančios Energetikos Investicijos” has retrospectively adjusted its net asset value (NAV) and share price as at 31 December 2024 and 31 March 2025, due to discrepancies identified in the fair value measurement of investment assets.

    Solar development in Poland:

    • The construction of 67.8 MW total capacity PV Energy Projects sp. z. o.o. portfolio nears completion.  As of reporting period, 46 MW are operational. 1 project (1 MW) was energized during this quarter and 4 projects (1 MW each) are planned to be energized in Q2 2025. The anticipated COD for the entire park is set for September 2025.
    • The PL SUN sp. z o.o. portfolio, with a total capacity of 113.97 MW, is divided into two phases. Construction works for the first phase (66.6 MW) were largely finalized in Q2 2024. Of this, 26.4 MW were energized in Q4. The remaining 40.2 MW are scheduled to be energized by Q2 2025. Construction of the second phase commenced in October 2024. The total capacity was reduced from 48.1 MW to 47.4 MW due to technical issues with the land plots of one project. Balance of System, technical advisory, and O&M contracts have been signed. Modules and inverters have been delivered to all sites. Mounting structure construction and module installation works have started at 7 sites (45.1 MW). Transformer stations were delivered to 2 sites (5.87 MW).

    Wind Projects:

    • The Energy Production license for the Anykščiai wind farm was obtained in August 2024, for Jonava and Rokiškis wind farms the license obtainal is schduled for Q2 2025.
    • The 112 MW wind farm developed under Zala Elektriba SIA is scheduled to reach RtB in Q2 2025. The turbine supply agreement was signed on 28th of March.

    Hybrid Projects:

    • The hybrid projects managed by UAB “Ekoelektra” and UAB “KNT Holding” are progressing, with the majority of land lease agreements and cable and road servitudes secured for the former, and approximately 50% secured for the latter.

    Contact person for further information:

    Mantas Auruškevičius

    Manager of the Investment Company

    mantas.auruskevicius@lordslb.lt

    www.lordslb.lt/AEI_green_bonds

    Attachment

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