GlobeNewswire – Page 358

MIL-OSI: First Central Savings Bank Reports First Quarter 2025 Results Highlighted by Net Income of $1.8 million ($0.17 EPS), Net Interest Margin Expansion by 25 basis points on a linked quarter basis and Strong Non-Interest Income

Source: GlobeNewswire (MIL-OSI)

Performance Highlights

Net Income: Net income for the quarter ended March 31, 2025, was $1.8 million, or $0.17 per share, compared to $1.2 million, or $0.12 per share, recorded in the prior year quarter ended March 31, 2024.
Cash Net Income: Cash net income for the quarter ended March 31, 2025, was $2.1 million, or $0.19 per share, compared to $1.6 million or $0.15 per share, recorded in the comparable 2024 quarter.
Net Interest Margin and Spread: The Bank’s net interest margin increased by 25 basis points to 3.13% during the quarter ended March 31, 2025, from 2.88% in the linked quarter ended December 31, 2024. The Bank’s net interest spread increased to 2.19% during the quarter ended March 31, 2025, from 1.93% in the linked quarter ended December 31, 2024.
Non-Interest Income Growth: Due to an increase in loan sale volume and loan sale premiums received for the quarter ended March 31, 2025, non-interest income increased by $352 thousand or 21.2% from the prior year quarter.
Net Interest Income: Net interest income for the quarter ended March 31, 2025, was $7.3 million an increase of $782 thousand, or 12.0%, from the quarter ended March 31, 2024 and $383 thousand, or 5.5%, from the quarter ended December 31, 2024.
Financial Performance Metrics: Return on average assets and average stockholders’ equity were 0.75% and 8.21%, respectively, for the quarter ended March 31, 2025, compared to 0.51% and 5.89% in the comparable 2024 quarter end.
Regulatory Capital: The Bank’s Tier 1 leverage ratio was 9.62% and the Total Risk based capital ratio was 14.65% at March 31, 2025, each above the regulatory minimum for a well-capitalized institution.
Strong and Stable Liquidity: The Uninsured deposits base remains stable at 20.2% of total deposits. The Bank has significant available funding capacity to provide 208% coverage of our uninsured deposits.

GLEN COVE, N.Y., April 25, 2025 (GLOBE NEWSWIRE) — Joseph Pistilli, Chairman of the Board, of First Central Savings Bank (“FCSB”, “the Bank”) today reported continued performance achievements for the quarter ended March 31, 2025.

Cash and GAAP Basis Earnings

The Bank’s cash earnings were $2.1 million, or $0.19 per share, for the quarter ended March 31, 2025, which represents a decrease of $142 thousand, or 6.4%, on a linked quarter basis and an increase of $492 thousand, or 31.1%, from the prior year quarter ended March 31, 2024.

On a GAAP basis, net income for the quarter ended March 31, 2025, was $1.8 million, or $0.17 per share, compared with net income of $2.0 million, or $0.19, from the prior linked quarter basis and net income of $1.2 million, or $0.12 per share, for the quarter ended March 31, 2024.

Joseph Pistilli, Chairman of the Board noted, “In the first quarter of 2025, First Central continued to build shareholder value by generating strong earnings, primarily due to gains on non-conforming residential loan sales and margin expansion. In addition, we increased our book value from $7.95 per share at March 31, 2024, to $8.44 at March 31, 2025, an increase of $0.49 or 6.2%. We are cautiously optimistic about the credit quality of our loan portfolio, as it relates to the commercial loan sector, specifically to office space and multi-family as our exposure to this type of lending is limited. I am extremely proud of the management team and the Board of Directors that we have assembled at the Bank and the expertise they have in managing net interest income and asset quality during the current market conditions.”

Paul Hagan, President and Chief Operating Officer, reflected on the Bank’s results, “During the quarter ended March 31, 2025, the Bank expanded its net interest income and margin as a result of interest expense reductions. The cost of funds declined by 23 basis points during the first quarter of 2025. The pace of future deposit cost reductions will depend upon additional rate cuts from the Federal Reserve as well as competitor deposit pricing and their increased liquidity needs. We expect overall profitability to improve in the calendar year 2025 due to net interest margin expansion, growth in our loan portfolio, and increased loan sale income, however, we are very aware of potential credit quality deterioration, particularly in commercial and industrial loans that are present within our industry. Management will continue to effectively manage non-interest expenses to improve profitability and provide for any potential credit quality issues.”

Balance Sheet

On a year-over-year basis, total assets grew by $21.3 million, or 2.2%, driven by the Bank’s loan originations offset by non-conforming loan sales of $228.9 million during the period. Total assets for the quarter ended March 31, 2025, increased by $18.7 million to $983.6 million as the Bank continued to originate commercial and non-conforming loans while continuing to actively sell a portion of the non-conforming loans to the secondary market. The Bank sold $60.1 million of non-conforming loans during the quarter. As of March 31, 2025, the Bank has been able to generate a non-conforming loan pipeline of $118.1 million with a weighted average interest rate of 7.11%.

Total deposits were $850.6 million as of March 31, 2025, an increase of $21.6 million, or 2.6%, from December 31, 2024. The Bank has been successful in growing non-interest-bearing deposits from our retail branches and through non-conforming loan originations. Year over year, non-interest-bearing deposits increased by $35.2 million or 32.4% to $144.0 million as of March 31, 2025, representing 16.9% of the total deposit base. With the growth of the retail deposit base, the Bank was able to reduce its brokered deposit holdings by $13.2 million, or 34.6%, and reduce borrowings by $5.0 million, or 16.7%, to $25.0 million when compared to December 31, 2024.

The Bank’s overall average cost of funds was 3.28% for the quarter ended March 31, 2025, a decrease of 23 basis points from 3.51% from the prior linked quarter. Three overnight rate cuts by the Federal Reserve totaling 100 bps in the fourth quarter of 2024 contributed to the Bank’s ability to lower deposit costs. Management continues to be pro-active in securing lower rate certificates of deposit in the current interest rate environment to better position the interest-rate-risk profile of the Bank in anticipation of further interest rate reductions in 2025. Management believes this strategy will better protect and enhance future earnings as interest rates continue to decline, and our deposits reprice downward in the future.

Loan Portfolio and Asset Quality

For the twelve-month period ended March 31, 2025, the Bank’s loan portfolio grew by $47.2 million, or 5.6%, with the growth concentrated primarily in non-conforming residential loans. Management continues to employ a strategy of concentrating its loan growth in these products, which provides the Bank with traditionally safe credit quality at acceptable credit spreads, greater liquidity and an enhanced interest-rate-risk profile. Over the past twelve months, originations of the non-conforming product amounted to $323.2 million. At March 31, 2025, the entire non-conforming loan portfolio amounted to $486.8 million, with an average loan balance of $551.9 thousand and a weighted average loan-to-value ratio of 62.9%.

As a result of the Bank’s robust non-conforming loan generation capabilities, the Bank had been able to generate additional income by strategically originating and selling its non-conforming loans to other financial institutions at premiums. The Bank expects that it will continue to originate, in the near term, for its own portfolio and, in the long term, for others, which will result in a continued increase in interest income while also realizing gains on sales of loans. For the three months ended March 31, 2025, the Bank earned $1.8 million in premiums on loans sold, net of FASB 91 fees and costs.

The Bank’s asset quality ratios remain adequate. At March 31, 2025, the loan portfolio had non-performing loans of $15.9 million, or 1.84%, of total loans and 1.62% of total assets. The total allowance for credit losses at March 31, 2025, was $9.1 million, or 1.05%, of total loans held for investment. The higher level of non-performing loans is primarily due to one legacy commercial real estate loan in the amount of $7.1 million that went non-accrual during the quarter ended December 31, 2024. Management of the Bank has worked diligently to exit this borrowing relationship in April 2025 and expects to charge off approximately $1.1 million of the loan balance next quarter.

About First Central Savings Bank

With assets of $983.6 million at March 31, 2025, First Central Savings Bank is a locally owned and operated community savings bank, focusing on highly personalized and efficient services and products responsive to local needs. Management and the Board of Directors are comprised of a select group of successful local businessmen who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, First Central offers a full range of modern financial services. First Central employs a complete suite of consumer and commercial banking products and services, including multi-family and commercial mortgages, ADC and bridge loans, residential loans, middle market business loans and lines of credit. First Central also offers customers 24-hour ATM service with no fees attached, free checking with interest, mobile banking, the most advanced technologies in internet banking for our consumer and business customers, safe deposit boxes and much more. The Bank continues to roll out mobile banking software products as well as our “Zelle” money transfer product to our customers. First Central Savings Bank maintains its corporate office in Glen Cove, New York with an additional six branches throughout Queens New York, one branch in Nassau County, New York, and one branch in Suffolk County, New York.

First Central Savings Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call 516-399-6010 or visit the Bank’s state-of-the-art website at www.myfcsb.com.

Forward-Looking Statements

This release may contain certain “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “should,” “plan,” “estimate,” “predict,” “continue,” and “potential” or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of First Central Savings Bank. Any or all of the forward-looking statements in this release and in any other public statements made by First Central Savings Bank may turn out to be incorrect. They can be affected by inaccurate assumptions First Central Savings Bank might make or by known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. First Central Savings Bank does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

First Central Savings Bank
Statements of Condition – (unaudited)
(dollars in thousands)
	3/31/2025			12/31/2024			3/31/2024

Assets
Cash and cash equivalents	$	35,928		$	49,156		$	50,589
Certificates of deposit		3,000			2,000			2,000
Investments available-for-sale		30,085			29,802			41,791
Investments held-to-maturity		1,000			1,000			1,000

Loans held-for-sale		17,187			14,892			4,343
Loans receivable		866,999			838,183			832,644
Less: allowance for credit losses		(9,144	)		(8,787	)		(8,538	)
Loans, net		857,855			829,396			824,106

Other assets		38,558			38,684			38,508
Total assets	$	983,613		$	964,930		$	962,337


Liabilities and stockholders’ equity
Deposits	$	850,632		$	829,003		$	845,142
FHLB advances and other borrowings		25,000			30,000			14,500
Other liabilities		18,125			18,568			18,009
Total liabilities		893,757			877,571			877,651


Total stockholders’ equity		89,856			87,359			84,686
Total liabilities and stockholders’ equity	$	983,613		$	964,930		$	962,337

First Central Savings Bank
Statements of Income – (unaudited)
(dollars in thousands, except per share data)

	Quarter Ended			Quarter Ended
	3/31/2025			3/31/2024

Total Interest income	$	14,279		$	14,185
Total interest expense		6,970			7,658
Net interest income		7,309			6,527
Provision for credit losses		93			190
Net interest income after provision for credit losses		7,216			6,337

Net gain on loans sold		1,790			1,421
Other non-interest income		223			240
Total non-interest income		2,013			1,661

Compensation and benefits		4,022			3,747
Occupancy and equipment		968			906
Data processing		482			444
Federal insurance premium		183			165
Professional fees		335			329
Other		992			869
Total non-interest expense		6,982			6,460

Income before income taxes		2,247			1,538
Income tax expense		459			310
Net income	$	1,788		$	1,228

Basic earnings per share-GAAP basis	$	0.17		$	0.12
Diluted earnings per share-GAAP basis	$	0.17		$	0.12

Supplementary information:
Net income	$	1,788		$	1,228

Add back non-cash items
Provision for credit losses		93			190
Depreciation expense		266			253
Tax on add back of non-cash items		(73	)		(89	)
Cash net income	$	2,074		$	1,582

Basic earnings per share-GAAP basis	$	0.19		$	0.15
Diluted earnings per share-GAAP basis	$	0.19		$	0.15

First Central Savings Bank
Statements of Income – (unaudited)
(dollars in thousands, except per share data)
	Quarter Ended			Quarter Ended			Quarter Ended			Quarter Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024

Total Interest income	$	14,279		$	14,599		$	14,972		$	14,854
Total interest expense		6,970			7,673			8,210			8,064
Net interest income		7,309			6,926			6,762			6,790
Provision for credit losses		93			1			950			117
Net interest income after provision for credit losses		7,216			6,925			5,812			6,673

Net gain on loans sold		1,790			2,649			1,536			843
Net gains on sale of securities		–			–			142			–
Other non-interest income		223			247			210			337
Total non-interest income		2,013			2,896			1,888			1,180

Compensation and benefits		4,022			4,355			3,663			3,596
Occupancy and equipment		968			912			936			918
Data processing		482			454			448			452
Federal insurance premium		183			161			174			166
Professional fees		335			291			360			368
Other		992			1,116			975			907
Total non-interest expense		6,982			7,289			6,556			6,407

Income before income taxes		2,247			2,532			1,144			1,446
Income tax expense		459			524			225			290
Net income	$	1,788		$	2,008		$	919		$	1,156

Basic earnings per share-GAAP basis	$	0.17		$	0.19		$	0.09		$	0.11
Diluted earnings per share-GAAP basis	$	0.17		$	0.19		$	0.09		$	0.11

Supplementary information:
Net income	$	1,788		$	2,008		$	919		$	1,156

Add back non-cash items
Provision for credit losses		93			1			950			117
Depreciation expense		266			261			260			257
Tax on add back of non-cash items		(73	)		(54	)		(238	)		(75	)
Cash net income	$	2,074		$	2,216		$	1,891		$	1,455

Basic earnings per share-GAAP basis	$	0.19		$	0.21		$	0.18		$	0.14
Diluted earnings per share-GAAP basis	$	0.19		$	0.21		$	0.18		$	0.14

First Central Savings Bank
Selected Financial Data – (unaudited)
(dollars in thousands, except per share data)
	Quarter Ended			Quarter Ended			Quarter Ended			Quarter Ended
	3/31/2025			12/31/2024			9/30/2024			3/31/2024

Asset quality:
Allowance for credit losses	$	9,144		$	8,787		$	8,895		$	8,538
Allowance for credit losses to total loans (1)		1.05	%		1.05	%		1.11	%		1.03	%

Non-performing loans	$	15,940		$	11,649		$	4,850		$	4,917
Net (recovery) charge-off dollars		(92	)		(41	)		776			(2	)
Non-performing loans/total loans (1)		1.84	%		1.39	%		0.61	%		0.59	%
Non-performing loans/total assets		1.62	%		1.21	%		0.49	%		0.51	%
Allowance for credit losses/non-performing loans		57.37	%		75.43	%		183.40	%		173.64	%

Capital: (dollars in thousands)
Tier 1 capital	$	93,664		$	91,913		$	91,502		$	89,427
Tier 1 leverage ratio		9.62	%		9.36	%		9.26	%		9.23	%
Common equity tier 1 capital ratio		13.40	%		13.42	%		13.20	%		13.32	%
Tier 1 risk based capital ratio		13.40	%		13.42	%		13.20	%		13.32	%
Total risk based capital ratio		14.65	%		14.67	%		14.45	%		14.57	%

Equity data
Common shares outstanding		10,648,345			10,648,345			10,648,345			10,648,345
Stockholders’ equity	$	89,856		$	87,359		$	87,852		$	84,686
Book value per common share		8.44			8.20			8.25			7.95
Tangible common equity		89,856			87,359			87,852			84,686
Tangible book value per common share		8.44			8.20			8.25			7.95

(1) Calculation excludes loans held-for-sale

First Central Savings Bank
Selected Financial Data – (unaudited)
(dollars in thousands)
	Quarter Ended			Quarter Ended			Quarter Ended					Quarter Ended
	3/31/2025			12/31/2024			9/30/2024					3/31/2024

Other: (in thousands)
Average interest-earning assets	$	946,854		$	956,169		$	961,624				$	941,314
Average interest-bearing liabilities		720,391			736,731			759,152					754,689
Average deposits and borrowings		861,096			868,871			877,100					860,638

Profitability:
Return on average assets		0.75	%		0.82	%		0.37	%	(3	)		0.51	%
Return on average equity		8.21	%		9.08	%		4.22	%	(3	)		5.89	%
Yield on average interest earning assets		6.12	%		6.07	%		6.19	%				6.06	%
Cost of average interest bearing liabilities		3.92	%		4.14	%		4.30	%				4.08	%
Cost of funds		3.28	%		3.51	%		3.72	%				3.58	%
Net interest rate spread (1)		2.19	%		1.93	%		1.89	%				1.98	%
Net interest margin (2)		3.13	%		2.88	%		2.80	%				2.79	%
Non-interest expense to average assets		2.92	%		2.97	%		2.65	%				2.70	%
Efficiency ratio		74.80	%		74.21	%		77.05	%				78.90	%

(1) Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities
(2) Net interest margin represents net interest income divided by average interest earning assets
(3) ROA and ROE excluding a $776 thousand charge-off of a C&I loan as of September 30, 2024 would have been 0.61% and 6.95%

The MIL Network –

April 26, 2025

MIL-OSI: XRP News: Just 72 Hours Left to Join XploraDEX Presale, As XPL Token Distribution Nears Completion

Source: GlobeNewswire (MIL-OSI)

ZURICH, Switzerland, April 25, 2025 (GLOBE NEWSWIRE) — The final countdown is officially on. With just 72 hours remaining in the XploraDEX presale and the $XPL token distribution nearly complete, the window to join one of the XRP Ledger’s most transformative DeFi launches is rapidly closing.

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Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

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The MIL Network –

April 26, 2025

MIL-OSI: First Commerce Bancorp, Inc. Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

LAKEWOOD, N.J., April 25, 2025 (GLOBE NEWSWIRE) — First Commerce Bancorp, Inc. (the “Company”), (OTC: CMRB), the holding company for First Commerce Bank (the “Bank”), today reported net income of $1.7 million and basic earnings per common share of $0.08 for the three months ended March 31, 2025, as compared to net income of $1.2 million and basic earnings per common share of $0.05 for the three months ended March 31, 2024.

President & CEO Donald Mindiak commented, “Measured balance sheet growth during the first quarter was highlighted by calculated increases in both loans and investment securities, redeploying excess liquidity into higher yielding assets, with a risk profile consistent with our underwriting standards. While our average yield on interest earning assets and average cost on interest bearing liabilities remained relatively stable as compared to the first quarter of 2024, on a linked quarter basis the average yield on interest earning assets increased by nine basis points and the average cost of interest bearing liabilities decreased by nine basis points resulting in a thirteen basis point increase in our net interest margin and a thirteen basis point increase in our return on average assets in the comparative quarters ended March 31, 2025 and December 31, 2024, respectively. The continued success of our stock repurchase plan, coupled with improving profitability, is reflected in the increase in book value by $0.08/share since year end 2024 and $0.34/share since March 31, 2024.”

Continuing, Mr. Mindiak remarked that, “From an asset quality perspective, one large loan of $21.0 million migrated into non-accrual status during the first quarter, however, a contract is in place to remediate this facility which is anticipated to close during the second quarter of 2025. While a degree of uncertainty has permeated the marketplace as a result of certain prospective economic, regulatory and geopolitical headwinds which remain an on-going challenge to navigate, we will endeavor to continue to execute our strategies with prudence and forethought in an effort to increase franchise and shareholder value.”

Financial Highlights

Total interest income increased by $1.4 million or 7.4% for the first quarter of 2025 compared to the first quarter of 2024 as a result of the growth in average interest-earning assets year over year.
Total interest expense increased by $1.0 million or 9.5% for the first quarter of 2025 compared to the first quarter of 2024 as a result of the growth in interest-bearing liabilities.
Total deposits increased by $96.9 million or 8.8% to $1.20 billion at March 31, 2025, compared to $1.11 billion at March 31, 2024.
The annualized return on average total assets increased by twelve basis points to 0.44% at March 31, 2025, compared to 0.32% at March 31, 2024.
The annualized return on average shareholders’ equity was 3.93% at March 31, 2025, compared to 2.54% at March 31, 2024.
The book value per common share was $8.47 at March 31, 2025, compared to $8.13 at March 31, 2024.
Net interest margin increased thirteen basis points on a linked quarter basis to 2.33% as of March 31, 2025, from 2.20% as of December 31, 2024.

Balance Sheet Review

Total assets increased by $30.9 million or 2.0% to $1.58 billion at March 31, 2025, from $1.55 billion at December 31, 2024. The increase in total assets was primarily related to increases in total investment securities and total loans receivable, partially offset by a decrease in cash and cash equivalents during the three months ended March 31, 2025.

Total cash and cash equivalents decreased by $48.1 million or 36.3% to $84.3 million at March 31, 2025, from $132.5 million at December 31, 2024. This decrease was primarily due to funding of loan closings and the purchases of investment securities during the first quarter of 2025.

Total investment securities increased by $65.6 million or 58.5% to $177.8 million at March 31, 2025, from $112.2 million at December 31, 2024. The increase in investment securities resulted primarily from $69.3 million in purchases of investment securities, partially offset by $1.3 million in redemptions and $2.4 million in mortgage-backed security amortization.

Total loans receivable, net of allowance for credit losses increased by $17.1 million or 1.4% to $1.24 billion at March 31, 2025, from $1.22 billion at December 31, 2024. Commercial mortgage loans, and construction loans increased $8.2 million and $13.5 million, respectively, partially offset by decreases in commercial loans, residential loans and home equity loans of $1.8 million, $1.6 million and $1.4 million, respectively. The allowance for credit losses increased by $78,000 to $14.8 million or 1.18% of gross loans at March 31, 2025, as compared to $14.7 million or 1.19% of gross loans at December 31, 2024.

Total deposits increased $27.1 million or 2.3% to $1.20 billion at March 31, 2025, from $1.17 billion at December 31, 2024. Within the components of total deposits, time deposits increased $33.6 million, savings deposits increased $9.9 million, and non-interest-bearing demand deposits increased $7.0 million, partially offset by decreases of $10.8 million in NOW deposits, $7.9 million in money market account deposits and $4.6 million in brokered deposits.

Stockholders’ equity decreased by $1.8 million or 1.1% to $170.4 million at March 31, 2025, from $172.3 million at December 31, 2024. The decrease in stockholders’ equity was primarily due to $4.1 million in repurchases of common stock, offset by increases of $1.7 million in retained earnings and $713,000 in additional paid-in-capital. During the three months ended March 31, 2025, the Company repurchased 653,000 shares for approximately $4.1 million, or a weighted average price of approximately $6.23 per share.

Three Months of Operations

Net interest income increased by $382,000 or 4.6% to $8.6 million for the three months ended March 31, 2025, from $8.2 million for the three months ended March 31, 2024. The increase in net interest income was primarily due to an increase in total interest income of $1.4 million as a result of an increase in average interest earning assets, partially offset by an increase in total interest expense of $1.0 million as a result of an increase in average interest-bearing liabilities.

Total interest income increased by $1.4 million or 7.4% to $20.5 million for the three months ended March 31, 2025, from $19.1 million for the three months ended March 31, 2024. Interest income on loans, including fees, decreased $289,000 or 1.6% to $17.4 million for the three months ended March 31, 2025, as compared to $17.7 million for the three months ended March 31, 2024. The decrease in interest income on loans, including fees, resulted primarily from a decline in the average balance of loans receivable of $9.9 million or 0.8% to $1.24 billion for the three months ended March 31, 2025, as compared to $1.25 billion for the three months ended March 31, 2024. Average yield on loans receivable was 5.67% for the three months ended March 31, 2025, unchanged year over year. Interest income on interest-bearing deposits with other banks increased by $338,000 or 51.6% to $993,000 for the three months ended March 31, 2025, as compared to $655,000 for the same period in the prior year. This increase resulted from a higher average balance of interest-bearing deposits with banks of $43.7 million or 80.7% to $97.8 million for the three months ended March 31, 2025, as compared to $54.1 million for the same period in the prior year. Interest income on investment securities increased by $1.3 million or 231.0% to $1.9 million for the three months ended March 31, 2025, as compared to $561,000 for the same period in the prior year, as a result of purchasing and replacing paydowns of investment securities with higher yielding investment securities. The average balance of investment securities portfolio increased by $81.8 million or 117.2% to $151.6 million for the three months ended March 31, 2025, as compared to $69.8 million for the same period in the prior year. The average yield on investment securities increased by 168 basis points to 4.90% for the three months ended March 31, 2025, as compared to 3.22% for the same period in the prior year. Dividend income on FHLB stock increased by $63,000 or 40.1% to $220,000 for the three months ended March 31, 2025, as compared to $157,000 for the same period in the prior year, primarily as a result of an increase in average yield of 128 basis points to 9.34% for the three months ended March 31, 2025, as compared to 8.06% for the same period in the prior year.

Total interest expense increased by $1.0 million or 9.5% to $11.8 million for the three months ended March 31, 2025, from $10.8 million for the three months ended March 31, 2024. The increase in interest expense occurred primarily as a result of an increase in average balance of interest-bearing liabilities of $118.6 million or 11.0%, to $1.20 billion for the three months ended March 31, 2025, from $1.08 billion for the three months ended March 31, 2024. Despite the increase in the average balance of interest-bearing liabilities, the average cost of interest-bearing liabilities decreased to 3.99% for the three months ended March 31, 2025, as compared to 4.01% for the three months ended March 31, 2024. The increase in average balance of interest-bearing liabilities included a $85.3 million increase in average interest-bearing deposit liabilities and a $33.3 million increase in average wholesale borrowings for the three months ended March 31, 2025. The increase in interest-bearing liabilities was primarily used to maintain an increased level of liquidity consistent with regulatory guidance.

During the first quarter of 2025, the Company recorded an $83,000 provision for credit losses as compared to a $7,000 provision for credit losses for the same period in the prior year. Based on the results of the CECL model and management’s evaluation of both quantitative and qualitative factors for the first quarter of 2025, the Company recorded a provision for credit losses of $51,000 on corporate securities held-to-maturity, a $19,000 provision for credit losses for unfunded commitments and a $13,000 provision for credit losses on loans. Based upon the aforementioned analyses, management believes that the allowance for credit losses on loans and investment securities at March 31, 2025, and 2024 were appropriate.

Net interest margin decreased by six basis points to 2.33% for the three months ended March 31, 2025, compared to 2.39% for the three months ended March 31, 2024. The decrease in the net interest margin is primarily due to an increase in the average balance of interest bearing liabilities of $118.6 million to $1.20 billion for the three months ended March 31, 2025 from $1.08 billion three months ended March 31, 2024, despite a decrease in the cost of interest-bearing liabilities to 3.99% for the three months ended March 31, 2025 from 4.01% for the three months ended March 31, 2024. This increase was partially offset by an increase in average balance of interest earning assets of $117.3 million to $1.50 billion for the three months ended March 31, 2025, compared to $1.39 billion for the three months ended March 31, 2024.

Non-interest income increased by $872,000 or 167.0% to $1.4 million for the three months ended March 31, 2025, from $522,000 for the three months ended March 31, 2024. The increase in total non-interest income resulted primarily from an increase in other income of $764,000 as a result of a non-recurring gain of $778,000 on the sale of a Company owned property recorded in the first quarter of 2025. Excluding this non-recurring gain, other income would have decreased $14,000 when compared to the same period in the prior year. Service charges and fees increased by $102,000 or 53.4% to $293,000 for the three months ended March 31, 2025, from $191,000 for the same period in the prior year, primarily due to an increase in loan fees of $47,000 and an increase in deposit accounts fees of $51,000.

Non-interest expense increased by $638,000 or 8.8% to $7.8 million for the three months ended March 31, 2025, compared to $7.2 million for the three months ended March 31, 2024. Salaries and employee benefits increased by $238,000 or 5.3% to $4.7 million for the three months ended March 31, 2025, as compared to $4.5 million for the three months ended March 31, 2024. The increase in salaries and employee benefits resulted primarily due to new positions appointed to assist in the growth of the Bank and annual merit increases partially offset by a decrease in health insurance costs year over year. Occupancy and equipment expense increased by $245,000 or 26.9% to $1.2 million for the three months ended March 31, 2025, as compared to $912,000 for the three months ended March 31, 2024, primarily due to additional lease expense related to the Company leasing additional office space to relocate its corporate offices. Advertising and marketing expense decreased by $23,000 or 29.5% to $55,000 for the three months ended March 31, 2025, as compared to $78,000 for the three months ended March 31, 2024, as a result of reduction in marketing consultant services. Data processing expense increased by $57,000 or 20.0% to $342,000 for the three months ended March 31, 2025, compared to $285,000 for the three months ended March 31, 2024, primarily as a result of adding new services and annual cost increases. FDIC insurance assessment increased $26,000 or 13.3% to $221,000 for the three months ended March 31, 2025, from $195,000 for the three months ended March 31, 2024, as a result of an increase in the assessment rate. Other operating expenses increased by $79,000 or 10.5% to $828,000 for the three months ended March 31, 2025, from $749,000 for the three months ended March 31, 2024, primarily due to minor increases in various components of other operating expenses. Other operating expenses are primarily comprised of loan related expenses, dues and subscriptions, digital banking expenses, sponsorships, training and education, software maintenance and depreciation, and miscellaneous expenses. Management’s focus continues to remain on prudently managing its operating expenses.

The income tax provision increased by $22,000 or 5.8% to $403,000 for the three months ended March 31, 2025, from $381,000 for the three months ended March 31, 2024. This increase in the income tax provision resulted primarily from an increase in the pre-tax income year over year. In addition, the effective tax yield declined year over year as a result of a reduction in New York state tax apportionment. The effective tax rate for the quarter ended March 31, 2025, was 19.4% compared to 24.8% for the quarter ended March 31, 2024.

Asset Quality

The allowance for credit losses increased by $78,000 to $14.8 million or 1.18% of gross loans at March 31, 2025, as compared to $14.7 million or 1.19% of gross loans at December 31, 2024, and $14.6 million or 1.18% at March 31, 2024. During the first quarter of 2025, the Company added a $13,000 provision to the allowance for credit losses and had net recoveries of $65,000. Based on the results of the CECL model and management’s evaluation of both quantitative and qualitative factors during the quarter, changes in the allowance for credit losses are adjusted accordingly.

The Bank had non-accrual loans totaling $37.9 million or 3.02% of gross loans at March 31, 2025, as compared to $16.6 million or 1.34% of gross loans at December 31, 2024. Non-accrual loans increased by $21.3 million or 128.0% from December 31, 2024, as a result of one commercial real estate loan in the amount of approximately $21.0 million which was placed on non-accrual status during the first quarter of 2025. A contract is in place to remediate this facility which is anticipated to close during the second quarter of 2025. The allowance for credit losses was 39.1% of non-accrual loans at March 31, 2025, compared to 88.7%, at December 31, 2024.

About First Commerce Bancorp, Inc.

First Commerce Bancorp, Inc, is a financial services organization headquartered in Lakewood, New Jersey. The Bank, the Company’s wholly owned subsidiary, provides businesses and individuals a wide range of loans, deposit products and retail and commercial banking services through its branch network located in Allentown, Bordentown, Closter, Englewood, Fairfield, Freehold, Jackson, Lakewood, Robbinsville and Teaneck, New Jersey. For more information, please visit our website https://www.firstcommercebk.com/ or contact our offices at 732-364-0032.

Forward-Looking Statements

This release, like many written and oral communications presented by First Commerce Bancorp Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies 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. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.

In addition to the factors previously disclosed in prior Bank communications and those identified elsewhere, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the impact of changes in interest rates and in the credit quality and strength of underlying collateral and the effect of such changes on the market value of First Commerce Bank’s investment securities portfolio; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which First Commerce Bank operates and in which its loans are concentrated, including the effects of declines in housing market values; inflation; customer acceptance of the Bank’s products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with certain corporate initiatives; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and actions of governmental agencies and legislative and regulatory actions and reforms.


First Commerce Bancorp, Inc.
Consolidated Statements of Financial Condition
(Unaudited)

							March 31, 2025 vs.
							December 31, 2024
*(dollars in thousands, except percentages and share data)*	March 31, 2025			December 31, 2024			Amount			%
Assets
Cash and cash equivalents:
Cash on hand	$	2,052		$	1,790		$	262			14.6	%
Interest-bearing deposits in other banks		82,285			130,690			(48,405	)		-37.0	%
Total cash and cash equivalents		84,337			132,480			(48,143	)		-36.3	%
Investment securities:
Available-for-sale, at fair value		26,789			300			26,489			8829.7	%
Held-to-maturity (“HTM”), at amortized cost		151,258			112,107			39,151			34.9	%
Less: Allowance for credit losses – HTM securities		(249	)		(198	)		(51	)		25.8	%
Held-to-maturity, net of allowance for credit losses		151,009			111,909			39,100			34.9	%
Total investment securities		177,798			112,209			65,589			58.5	%
Restricted stock		9,483			9,348			135			1.4	%
Loans receivable		1,256,247			1,239,031			17,216			1.4	%
Less: Allowance for credit losses		(14,834	)		(14,756	)		(78	)		0.5	%
Net loans receivable		1,241,413			1,224,275			17,138			1.4	%
Premises and equipment, net		10,338			17,059			(6,721	)		-39.4	%
Right-of-use asset		18,201			16,085			2,116			13.2	%
Accrued interest receivable		6,541			5,829			712			12.2	%
Bank owned life insurance		26,951			26,711			240			0.9	%
Deferred tax asset, net		3,031			3,076			(45	)		-1.5	%
Other assets		3,890			4,053			(163	)		-4.0	%
Total assets	$	1,581,983		$	1,551,125		$	30,858			2.0	%
Liabilities and Stockholders’ Equity
Liabilities
Deposits:
Non-interest bearing	$	164,686		$	157,684		$	7,002			4.4	%
Interest-bearing		1,037,393			1,017,254			20,139			2.0	%
Total Deposits		1,202,079			1,174,938			27,141			2.3	%
Borrowings		178,000			175,000			3,000			1.7	%
Accrued interest payable		1,970			1,913			57			3.0	%
Lease liability		18,968			16,773			2,195			13.1	%
Other liabilities		10,544			10,232			312			3.1	%
Total liabilities		1,411,561			1,378,856			32,705			2.4	%
Commitments and contingencies		–			–			–			–
Stockholders’ equity
Preferred stock; authorized 5,000,000 shares; none issued		–			–			–			N/A
Common stock, par value of $0; 30,000,000 authorized		–			–			–			N/A
Additional paid-in capital		90,270			89,557			713			0.8	%
Retained earnings		106,641			104,965			1,676			1.6	%
Treasury stock		(26,360	)		(22,253	)		(4,107	)		18.5	%
Accumulated other comprehensive loss		(129	)		–			(129	)		-100.0	%
Total stockholders’ equity		170,422			172,269			(1,847	)		-1.1	%
Total liabilities and stockholders’ equity	$	1,581,983		$	1,551,125		$	30,858			2.0	%

Shares issued		24,243,030			23,995,390
Shares outstanding		20,130,474			20,536,214
Treasury shares		4,112,556			3,459,176


First Commerce Bancorp, Inc.
Consolidated Statements of Income
(Unaudited)

		Three Months Ended					Variance
*(dollars in thousands, except percentages and share data)*	March 31, 2025		March 31, 2024			Amount			%
Interest and Dividend Income
Loans, including fees	$	17,388	$	17,677		$	(289	)		-1.6	%
Investment securities:
Available-for-sale		182		68			114			167.6	%
Held-to-maturity		1,675		493			1,182			239.8	%
Interest-bearing deposits with other banks		993		655			338			51.6	%
Restricted stock dividends		220		157			63			40.1	%
Total interest and dividend income		20,458		19,050			1,408			7.4	%
Interest expense:
Deposits		9,731		9,052			679			7.5	%
Borrowings		2,106		1,759			347			19.7	%
Total interest expense		11,837		10,811			1,026			9.5	%
Net interest income		8,621		8,239			382			4.6	%
Provision for credit losses		13		124			(111	)		-89.5	%
Provision for (reversal of) unfunded commitments for credit losses		19		(119	)		138			-116.0	%
Provision for credit losses – HTM securities		51		2			49			2450.0	%
Total provision for credit losses		83		7			76			1085.7	%
Net interest income after provision for (reversal of) credit losses		8,538		8,232			306			3.7	%
Non-interest Income:
Service charges and fees		293		191			102			53.4	%
Bank owned life insurance income		240		234			6			2.6	%
Other income		861		97			764			787.6	%
Total non-interest income		1,394		522			872			167.0	%
Non-Interest Expenses:
Salaries and employee benefits		4,740		4,502			238			5.3	%
Occupancy and equipment expense		1,157		912			245			26.9	%
Advertising and marketing		55		78			(23	)		-29.5	%
Professional fees		512		496			16			3.2	%
Data processing expense		342		285			57			20.0	%
FDIC insurance assessment		221		195			26			13.3	%
Other operating expenses		828		749			79			10.5	%
Total non-interest expenses		7,855		7,217			638			8.8	%
Income before income taxes		2,077		1,537			540			35.1	%
Income tax provision		403		381			22			5.8	%
Net income	$	1,674	$	1,156		$	518			44.8	%

Earnings per common share – Basic	$	0.08	$	0.05		$	0.03			60.0	%
Earnings per common share – Diluted		0.08		0.05			0.03			60.0	%
Weighted average shares outstanding – Basic		20,392		22,600			(2,208	)		-9.8	%
Weighted average shares outstanding – Diluted		20,435		22,930			(2,495	)		-10.9	%


First Commerce Bancorp, Inc.
Net Interest Margin Analysis
(Unaudited)

	Three months ended March 31, 2025								Three months ended March 31, 2024
	Average					Average			Average					Average
(dollars in thousands)	Balance			Interest		Yield/Cost			Balance			Interest		Yield/Cost
Assets:
Interest-earning assets:
Interest-bearing deposits in other banks	$	97,808		$	993		4.12	%	$	54,138		$	655		4.86	%
Investment securities:
Available-for-sale		11,672			182		6.25	%		9,054			68		2.99	%
Held-to-maturity		139,935			1,675		4.79	%		60,731			493		3.25	%
Total investment securities		151,607			1,857		4.90	%		69,785			561		3.22	%
Restricted stock		9,433			220		9.34	%		7,779			157		8.06	%
Loans receivable:
Consumer loans		881			7		3.16	%		372			2		2.42	%
Home equity loans		2,384			50		8.52	%		2,948			59		8.11	%
Construction loans		104,991			2,057		7.84	%		115,401			2,529		8.67	%
Commercial loans		42,935			845		7.87	%		36,192			736		8.04	%
Commercial mortgage loans		1,060,105			13,936		5.26	%		1,056,058			13,664		5.12	%
Residential mortgage loans		11,598			136		4.76	%		14,873			174		4.71	%
SBA loans		21,131			357		6.75	%		28,037			513		7.24	%
Total loans receivable		1,244,025			17,388		5.67	%		1,253,881			17,677		5.67	%
Total interest-earning assets		1,502,873			20,458		5.52	%		1,385,583			19,050		5.53	%
Non-interest-earning assets:
Allowance for credit losses		(14,800	)							(14,485	)
Cash on hand		1,927								1,906
Other assets		67,951								59,935
Total non-interest-earning assets		55,078								47,356
Total assets	$	1,557,951							$	1,432,939
Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Interest-bearing checking accounts	$	77,377		$	404		2.12	%	$	53,428		$	225		1.69	%
NOW accounts		8,629			62		2.91	%		38,092			322		3.40	%
Money market accounts		258,121			2,107		3.31	%		210,400			1,748		3.34	%
Savings accounts		39,467			195		2.00	%		29,145			29		0.40	%
Certificates of deposit		486,298			5,125		4.27	%		506,261			5,465		4.34	%
Brokered CDs		154,957			1,838		4.81	%		102,213			1,263		4.97	%
Borrowings		176,878			2,106		4.83	%		143,553			1,759		4.93	%
Total interest-bearing liabilities		1,201,727		$	11,837		3.99	%		1,083,092		$	10,811		4.01	%
Non-interest-bearing liabilities:
Demand deposits		154,448								143,325
Other liabilities		29,196								23,291
Total non-interest-bearing liabilities		183,644								166,616
Stockholders’ equity		172,580								183,231
Total liabilities and stockholders’ equity	$	1,557,951							$	1,432,939
Net interest spread							1.53	%							1.52	%
Net interest margin				$	8,621		2.33	%				$	8,239		2.39	%


First Commerce Bancorp, Inc.
Selected Financial Data
(Unaudited)

	As of and for the quarters ended
(In thousands, except per share data)	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Summary earnings:
Interest income	$	20,458		$	19,672		$	20,149		$	19,793		$	19,050
Interest expense		11,837			11,706			11,785			11,451			10,811
Net interest income		8,621			7,966			8,364			8,342			8,239
Provision for (reversal of) credit losses		83			(55	)		54			300			7
Net interest income after provision for (reversal of) credit losses		8,538			8,021			8,310			8,042			8,232
Non-interest income		1,394			412			582			562			522
Non-interest expense		7,855			7,117			7,524			7,230			7,217
Income before income tax expense		2,077			1,316			1,368			1,374			1,537
Income tax expense		403			167			240			287			381
Net income	$	1,674		$	1,149		$	1,128		$	1,087		$	1,156
Per share data:
Earnings per share – basic	$	0.08		$	0.06		$	0.05		$	0.05		$	0.05
Earnings per share – diluted		0.08			0.06			0.05			0.05			0.05
Cash dividends declared		–			–			–			–			0.04
Book value at period end		8.47			8.39			8.31			8.19			8.13
Shares outstanding at period end		20,130			20,536			20,780			21,489			22,146
Basic weighted average shares outstanding		20,392			20,552			21,164			21,641			22,600
Fully diluted weighted average shares outstanding		20,435			20,612			21,387			21,898			22,930
Balance sheet data (at period end):
Total assets	$	1,581,983		$	1,551,125		$	1,476,252		$	1,467,517		$	1,452,419
Investment securities, available-for-sale		26,789			300			7,748			8,337			8,758
Investment securities, held-to-maturity		151,009			111,909			73,977			74,109			61,483
Total loans		1,256,247			1,239,031			1,262,481			1,260,236			1,244,357
Allowance for credit losses		(14,834	)		(14,756	)		(14,869	)		(14,922	)		(14,628	)
Total deposits		1,202,079			1,174,938			1,097,165			1,107,159			1,105,161
Stockholders’ equity		170,422			172,269			172,642			175,933			179,963
Common cash dividends		–			–			–			–			904
Selected performance ratios:
Return on average total assets		0.44	%		0.31	%		0.31	%		0.30	%		0.32	%
Return on average stockholders’ equity		3.93	%		2.65	%		2.56	%		2.47	%		2.54	%
Dividend payout ratio		N/A			N/A			N/A			N/A			78.21	%
Average yield on earning assets		5.52	%		5.43	%		5.66	%		5.64	%		5.53	%
Average cost of funding liabilities		3.99	%		4.08	%		4.18	%		4.12	%		4.01	%
Net interest margin		2.33	%		2.20	%		2.35	%		2.38	%		2.39	%
Efficiency ratio		78.43	%		84.95	%		84.10	%		81.19	%		82.37	%
Non-interest income to average assets		0.36	%		0.11	%		0.16	%		0.16	%		0.15	%
Non-interest expenses to average assets		2.04	%		1.90	%		2.04	%		1.99	%		2.03	%
Asset quality ratios:
Non-performing loans to total loans		3.02	%		1.34	%		1.15	%		1.21	%		1.53	%
Non-performing assets to total assets		2.40	%		1.07	%		0.98	%		1.04	%		1.31	%
Allowance for credit losses to non-performing loans		39.12	%		88.71	%		102.67	%		97.76	%		76.77	%
Allowance for credit losses to total loans		1.18	%		1.19	%		1.18	%		1.18	%		1.18	%
Net recoveries (charge-offs) to average loans		0.02	%		-0.01	%		-0.03	%		0.01	%		0.01	%
Liquidity and capital ratios:
Net loans to deposits		103.27	%		104.20	%		113.71	%		112.48	%		111.27	%
Average loans to average deposits		105.49	%		111.83	%		114.54	%		113.30	%		115.79	%
Total stockholders’ equity to total assets		10.77	%		11.11	%		11.69	%		11.99	%		12.39	%
Total capital to risk-weighted assets		13.29	%		14.45	%		14.30	%		14.67	%		15.33	%
Tier 1 capital to risk-weighted assets		12.16	%		13.26	%		13.13	%		13.48	%		15.15	%
Common equity tier 1 capital ratio to risk-weighted assets		12.16	%		13.26	%		13.13	%		13.48	%		15.15	%
Tier 1 leverage ratio		10.74	%		11.56	%		11.80	%		12.08	%		12.58	%

The MIL Network –

April 26, 2025

MIL-OSI: XRP News: XenDex Surpasses 10% Presale Allocation Within Hours of Launch

Source: GlobeNewswire (MIL-OSI)

SYDNEY, April 25, 2025 (GLOBE NEWSWIRE) — XenDex the first cross-chain decentralized exchange on the XRP Ledger, offering AI-assisted copy trading, non-custodial lending and borrowing, and seamless interoperability across blockchain networks is currently registering a huge token sale on the XRP ledger.

Within just six hours of presale launch, the XenDex presale has filled over 10% of its soft cap, signaling early momentum and notable participation from high-net-worth crypto investors. Whale activity continues to push the presale toward its next milestone as XRP holders position themselves for what many now see as the DeFi breakout project of the Ripple ecosystem.

Buy XDX Now at It’s Lowest Price

The native utility token, $XDX, is rapidly gaining traction as one of the most in-demand assets on XRPL. With the presale soft cap nearly reached and capital flowing in from both whales and retail investors, $XDX is establishing itself as a top-tier DeFi token poised for aggressive growth.

This wave of investor confidence is fueled by XenDex’s unique value proposition, combining cutting-edge AI tools with traditional DeFi functionality, all built natively on one of the fastest, most scalable blockchain networks in the world.

What is the buzz around XenDex?

Unlike other DEXs on XRPL, XenDex delivers a full suite of next-gen features:

AI-powered copy trading and project vetting tools
Non-custodial lending and borrowing protocols
Cross-chain trading capabilities
DAO governance, staking, and access to exclusive token listing

XenDex is building a trusted DEX, giving $XDX holders priority access to the next waves of XRPL innovation.

Purchase Buy $XDX On Presale

Still Time to Join, But Not for Long

With strong early traction, the XenDex presale is progressing quickly. Early adopters stand to benefit from staking rewards, voting rights, and priority access to future project launches. As the XRP ETF launch approaches and $XDX demand accelerates, entry points will only get tighter.

How to Join the $XDX Presale

Purchase XRP via trusted exchanges (Binance, Coinbase, etc.)
Send XRP to a non-custodial wallet (e.g., Xaman)
Visit: https://xendex.net/presale and contribute

Tokens will be airdropped automatically to participants after the presale ends.

Participate in XDX Presale

Know more about XenDex below:

Website: https://xendex.net
Presale: https://xendex.net/presale
Telegram: https://t.me/xendexcommunity
Twitter/X: https://x.com/xendex_xrp
Docs: https://xdxdocs.gitbook.io

Contact:
Frank Richards
Frank@xendex.net

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f4624a0-16f4-4a12-9644-1aaa2937fa42

The MIL Network –

April 26, 2025

MIL-OSI: Hashdex AG: Preliminary announcement of the publication of financial reports according to Articles 114, 115, and 117 of the WpHG (the German Securities Act)

Source: GlobeNewswire (MIL-OSI)

Zurich, April 25, 2025 – Hashdex AG, a leading global crypto-focused investing company, today announced the preliminary publication of financial reports according to Articles 114, 115, and 117 of the WpHG (the German Securities Act).

The issuer is solely responsible for the content of this announcement.

Hashdex AG hereby announces that the following financial reports shall be disclosed:

Report Type: Annual financial report | IFRS-EU accounting standards
Language: English
Date of disclosure: April 30, 2025
Address: www.hashdex.com.br/en-EU/document-center

Report Type: Annual financial report | Swiss GAAP accounting standards
Language: English
Date of disclosure: April 30, 2025
Address: www.hashdex.com.br/en-EU/document-center

Report Type: Annual financial report | German GAAP accounting standards
Language: English
Date of disclosure: April 30, 2025
Address: www.hashdex.com.br/en-EU/document-center

Company: Hashdex AG
Baarerstrasse 112
6300 Zug

Switzerland

Website: www.hashdex.com.br/en-EU

About Hashdex
Hashdex is a global pioneer in crypto asset management. Hashdex invites innovative investors to join the emerging crypto economy. Hashdex’s mission is to provide educational resources and best-in-class products that advance its efforts to help build pathways by opening the crypto ecosystem to the world. The firm co-developed the Nasdaq Crypto Index™ (NCI™) with Nasdaq to provide global investors with a reliable benchmark for the crypto asset class. In 2021, Hashdex introduced the world’s first crypto ETFs and other innovative products, enabling over 215,000 investors to simply and securely add crypto to their portfolios. The firm’s total AUM across its range of products is more than $1.2 billion as of April 23, 2025. For more information visit www.hashdex.com or follow Hashdex on X or LinkedIn.

The MIL Network –

April 26, 2025

MIL-OSI: XRP News: Only 3 Days Left to Join XploraDEX Presale as $XPL Token Distribution Enters Final Stage

Source: GlobeNewswire (MIL-OSI)

ZURICH, April 25, 2025 (GLOBE NEWSWIRE) — The $XPL token distribution is now in its final stage, and the presale that has powered one of XRPL’s most anticipated launches is down to its last 4 days. With the window for early access rapidly closing, traders and investors are rushing to secure their allocation before the price increases and the platform goes fully live.

Buy $XPL Token

XploraDEX is not just launching a token—it’s launching a new standard for DeFi on the XRP Ledger. As the first AI-powered decentralized exchange on XRPL, XploraDEX offers real-time trade automation, predictive analytics, smart risk assessment, and lightning-fast execution. And with token distribution actively taking place, the early access phase is nearing its end.

Participate in $XPL Presale

Key Development Updates:

$XPL tokens are currently being distributed to early participants
Presale window closes in just 4 days
Over 78% of allocation has been claimed
Staking, governance, and AI dashboard rollouts begin shortly after distribution ends

As distribution hits its final stage, new investors are still able to participate in the presale. But this is it—the last chance to get $XPL at its lowest price before public listings begin on XRPL-based decentralized exchanges.

Join $XPL Presale Now

The XRP community has taken notice. Influencers are buzzing. Telegram is packed. Twitter mentions are trending. Wallet activity continues to rise hour by hour as traders race to get into the presale before it closes.

What sets XploraDEX apart is simple: execution. While others overpromise, XploraDEX is delivering. Token distribution is already in progress. Platform activation begins right after. And presale participants will lead the next wave of XRPL DeFi.

Purchase $XPL Token and Secure Your Spot Before It’s Too Late: https://sale.xploradex.io

Live Updates on $XPL Token Launch: Website | $XPL Token Presale | X | Telegram

Contact:
Oliver Muller
oliver@xploradex.io
contact@xploradex.io

Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Globenewswire does not endorse any content on this page.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8f1950d-80b3-4530-b738-681fc9492d61

The MIL Network –

April 26, 2025

MIL-OSI: Meridian Corporation Reports First Quarter 2025 Results and Announces a Quarterly Dividend of $0.125 per Common Share

Source: GlobeNewswire (MIL-OSI)

MALVERN, Pa., April 25, 2025 (GLOBE NEWSWIRE) — Meridian Corporation (Nasdaq: MRBK) today reported:

	Three Months Ended
(Dollars in thousands, except per share data)((Unaudited)	March 31, 2025		December 31, 2024		March 31, 2024
Income:
Net income	$	2,399	$	5,600	$	2,676
Diluted earnings per common share	$	0.21	$	0.49	$	0.24
Pre-provision net revenue (PPNR) ⁽¹⁾	$	8,357	$	11,167	$	6,419
(1) See Non-GAAP reconciliation in the Appendix

Net income for the quarter ended March 31, 2025 was $2.4 million, or $0.21 per diluted share.
Pre-provision net revenue¹ for the quarter was $8.4 million, up $1.9 million or 30.2% from 1Q 2024.
Net interest margin was 3.46% for the first quarter of 2025, with a loan yield of 7.19%.
Return on average assets and return on average equity for the first quarter of 2025 were 0.40% and 5.57%, respectively.
Total assets at March 31, 2025 were $2.5 billion, compared to $2.4 billion at December 31, 2024 and $2.3 billion at March 31, 2024.
Commercial loans, excluding leases, increased $49.5 million, or 3% for the quarter.
First quarter deposit growth was $123.4 million, or 6%.
Non-interest-bearing deposits were up $82.6 million or 34%, quarter over quarter.
On April 24, 2025, the Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable May 19, 2025 to shareholders of record as of May 12, 2025.

Christopher J. Annas, Chairman and CEO commented:

Meridian’s first quarter 2025 earnings of $2.4 million were slightly below the first quarter 2024 net income of $2.7 million however PPNR was up 30%, reflecting overall healthy growth in our business units and good expense control. Our earnings were negatively affected by higher provisioning resulting mainly from distressed SBA loans, which have been impacted by the dramatic rate rise. The remediation process for SBA loans is lengthy due to procedural requirements, which we follow diligently to assure the government guaranty, but we are making progress. On a positive note, our net interest margin was 3.46% and has shown consistent improvement over the last four quarters.

Loan growth in the first quarter was 12% annualized (minus expected lease paydowns) and all commercial groups contributed. The Delaware Valley region is plagued by a lack of homes for sale, so construction and other residential building is in demand. Our commercial/industrial lending has benefited from disruption in a recent local bank combination, from where we hired a senior lender with a deep list of contacts throughout the region. We expect many opportunities from this individual and his future hires.

Meridian Wealth Partners continued its strong performance with pre-tax income of $726 thousand for the quarter. A slight increase in assets under management combined with overall better fee percentages contributed to the gain. We are poised for better growth in this segment as our expanded loan customer base provides referral business, and with the recent hiring of a senior wealth professional to help focus on other opportunities.

The mortgage group had a larger pre-tax loss in 1Q25 vs 1Q24, mainly due to lower volume and a lesser loan officer count. The first quarter is seasonally weaker, but we are encouraged by the forecast for greater home inventory in both our Delaware Valley and Maryland markets. That has been a much bigger factor for loan originations than mortgage rates.

Our solid growth in PPNR has enabled us to manage the spike in non-performing loans, as we work intensely to remediate these credits. The growth in first quarter loan volume and expansion in net interest margin should continue to help drive further improvement in profitability.

Select Condensed Financial Information

	As of or for the three months ended (Unaudited)
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
	(Dollars in thousands, except per share data)
Income:
Net income	$	2,399		$	5,600		$	4,743		$	3,326		$	2,676
Basic earnings per common share		0.21			0.50			0.43			0.30			0.24
Diluted earnings per common share		0.21			0.49			0.42			0.30			0.24
Net interest income		19,776			19,299			18,242			16,846			16,609

Balance Sheet:
Total assets	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923
Loans, net of fees and costs		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Total deposits		2,128,742			2,005,368			1,978,927			1,915,436			1,900,696
Non-interest bearing deposits		323,485			240,858			237,207			224,040			220,581
Stockholders’ equity		173,266			171,522			167,450			162,382			159,936

Balance Sheet Average Balances:
Total assets	$	2,420,571		$	2,434,270		$	2,373,261		$	2,319,295		$	2,269,047
Total interest earning assets		2,330,224			2,342,651			2,277,523			2,222,177			2,173,212
Loans, net of fees and costs		2,039,676			2,029,739			1,997,574			1,972,740			1,944,187
Total deposits		2,036,208			2,043,505			1,960,145			1,919,954			1,823,523
Non-interest bearing deposits		244,161			259,118			246,310			229,040			233,255
Stockholders’ equity		174,734			171,214			165,309			162,119			159,822

Performance Ratios (Annualized):
Return on average assets		0.40	%		0.92	%		0.80	%		0.58	%		0.47	%
Return on average equity		5.57	%		13.01	%		11.41	%		8.25	%		6.73	%

Income Statement – First Quarter 2025 Compared to Fourth Quarter 2024

First quarter net income decreased $3.2 million, or 57.2%, to $2.4 million due to decreased non-interest income as the prior quarter included a $4.0 million gain on sale of MSR’s and a $317 thousand gain on sale of OREO, partially offset by a $1.0 million charge for early lease termination. The first quarter provision for credit losses increased over the prior quarter by $1.6 million. Net interest income increased $477 thousand and non-interest expenses decreased $2.7 million. Detailed explanations of the major categories of income and expense follow below.

Net Interest income

Interest income decreased $869 thousand quarter-over-quarter on a tax equivalent basis, driven by both two less days in the period as well as a lower level of average earning assets, which decreased by $12.4 million. On a rate basis, the yield on earnings assets increased 2 basis points.

Average total loans, excluding residential loans for sale, increased $10.0 million. The largest drivers of this increase were commercial, commercial real estate, and small business loans which on a combined basis increased $21.2 million on average, partially offset by a decrease in average leases of $10.6 million. Home equity, residential real estate, consumer and other loans held in portfolio decreased on a combined basis $602 thousand on average.

Total interest expense decreased $1.3 million, quarter-over-quarter, also driven by two fewer days in the period and a lower volume of time deposits and borrowings. On a rate basis, all deposit types experienced a decrease in the cost, with the overall cost of deposits dropping 21 basis points. Interest expense on total deposits decreased $1.5 million and interest expense on borrowings decreased $139 thousand. During the period, interest-bearing checking accounts and money market accounts increased $9.9 million and $37.9 million on average, respectively, while time deposits decreased $40.2 million on average. Borrowings decreased $6.7 million on average.

Overall the net interest margin increased 17 basis points to 3.46% as the cost of funds declined and the yield on earning assets increased slightly.

Provision for Credit Losses

The overall provision for credit losses for the first quarter increased $1.6 million to $5.2 million, from $3.6 million in the fourth quarter. The first quarter provision increased due to an increase of $7.1 million in non-performing loans which led to an increase of $2.3 million in specific reserves on such loans. SBA loans make up $6.9 million of these additional non-performing loans, of which $3.8 million are guaranteed by the SBA. The increase in provision was also partially impacted by unfavorable changes in certain macro-economic factors used in the model due to current economic and market uncertainty.

Non-interest income

The following table presents the components of non-interest income for the periods indicated:

	Three Months Ended
(Dollars in thousands)	March 31, 2025			December 31, 2024			$ Change			% Change
Mortgage banking income	$	3,393		$	5,516		$	(2,123	)	(38.5)%
Wealth management income		1,535			1,527			8		0.5	%
SBA loan income		748			1,143			(395	)	(34.6)%
Earnings on investment in life insurance		222			224			(2	)	(0.9)%
Net (loss) gain on sale of MSRs		(52	)		3,992			(4,044	)	(101.3)%
Gain on sale of OREO		—			317			(317	)	(100.0)%
Net change in the fair value of derivative instruments		149			(146	)		295		(202.1)%
Net change in the fair value of loans held-for-sale		102			(163	)		265		(162.6)%
Net change in the fair value of loans held-for-investment		170			(552	)		722		(130.8)%
Net (loss) gain on hedging activity		21			192			(171	)	(89.1)%
Other		1,036			1,229			(193	)	(15.7)%
Total non-interest income	$	7,324		$	13,279		$	(5,955	)	(44.8)%

Total non-interest income decreased $6.0 million, or 44.8%, quarter-over-quarter largely due to recognizing a gain on sale of MSRs of $4.0 million in the prior quarter, combined with a $2.1 million decline in mortgage banking income, and a change in gains of $171 thousand in hedging activity. These declines in income were partially offset by favorable derivative and loan related fair value changes. Mortgage loan sales decreased $68.1 million or 31.5% quarter over quarter driving lower gain on sale income in addition to a lower overall margin, leading to the lower level of mortgage banking income.

SBA loan income decreased $395 thousand due to a lower level of SBA loan sales. SBA loans sold for the quarter-ended March 31, 2025 totaled $12.1 million, down $7.8 million, or 39.1%, compared to the quarter-ended December 31, 2024. The gross margin on SBA sales was 8.7% for the quarter, up from 7.5% for the previous quarter.

Non-interest expense

The following table presents the components of non-interest expense for the periods indicated:

	Three Months Ended
(Dollars in thousands)	March 31, 2025		December 31, 2024		$ Change			% Change
Salaries and employee benefits	$	11,385	$	12,429	$	(1,044	)	(8.4)%
Occupancy and equipment		1,338		2,270		(932	)	(41.1)%
Professional fees		763		1,134		(371	)	(32.7)%
Data processing and software		1,479		1,553		(74	)	(4.8)%
Advertising and promotion		779		839		(60	)	(7.2)%
Pennsylvania bank shares tax		269		243		26		10.7	%
Other		2,730		2,943		(213	)	(7.2)%
Total non-interest expense	$	18,743	$	21,411	$	(2,668	)	(12.5)%

Overall salaries and benefits decreased $1.0 million. Bank and wealth segments combined decreased $245 thousand, while the mortgage segment decreased $799 thousand. Mortgage segment salaries, commissions, and employee benefits expense are impacted by volume and decreased commensurate with the lower levels of originations, which were down $63.5 million from the prior quarter. Occupancy and equipment expense decreased $932 thousand, net, due to fees, credits and other disposal costs for the early termination of the Blue Bell lease that occurred in the prior quarter. Professional fees decreased $371 thousand over the prior period mainly due to the results of cost control efforts on certain internal audit fees, legal fees and consulting fees, while other non-interest expense decreased $213 thousand due to a decline in certain business development costs, other loan related fees, and OREO related expenses.

Balance Sheet – March 31, 2025 Compared to December 31, 2024

Total assets increased $142.7 million, or 6.0%, to $2.5 billion as of March 31, 2025 from $2.4 billion at December 31, 2024. Interest-earning cash increased $91.8 million, or 419.7%, to $113.6 million as of March 31, 2025 from December 31, 2024, as a temporary deposit of $103 million from a long standing customer was on hand for several weeks. In addition, loan growth contributed to the overall increase in total assets over this period.

Portfolio loan growth was $42.0 million, or 2.1% quarter-over-quarter. The portfolio growth was generated from commercial mortgage loans which increased $21.2 million, or 2.6%, construction loans which increased $18.3 million, or 7.1%, small business loans which increased $5.3 million, or 3.4%, and commercial & industrial loans which increased $4.6 million, or 1.3%. Lease financings decreased $9.2 million, or 12.1% from December 31, 2024, partially offsetting the above noted loan growth, but this decline was expected as we continue to refocus away from lease originations.

Total deposits increased $123.4 million, or 6.2% quarter-over-quarter, led by non-interest bearing deposit growth of $82.6 million. Non-interest bearing deposits benefited from a late quarter deposit of $103 million from a long standing customer that sold a business. This deposit was on hand for several weeks. Money market accounts and savings accounts also increased a combined $34.3 million, while interest bearing demand deposits increased $19.6 million, and time deposits decreased $13.1 million from largely wholesale efforts. Overall borrowings increased $15.1 million, or 12.1% quarter-over-quarter.

Total stockholders’ equity increased by $1.7 million from December 31, 2024, to $173.3 million as of March 31, 2025. Changes to equity for the current quarter included net income of $2.4 million, less dividends paid of $1.4 million, offset by a decrease of $529 thousand in other comprehensive income. The Community Bank Leverage Ratio for the Bank was 9.30% at March 31, 2025.

Asset Quality Summary

Non-performing loans increased $7.1 million to $52.2 million at March 31, 2025 compared to $45.1 million at December 31, 2024. Included in non-performing loans are $19.1 million of SBA loans of which $9.9 million, or 53%, are guaranteed by the SBA. The SBA portfolio was subject to the Fed’s rapid rate increase and $15.0 million, or 80% of these non-performing loans originated in 2020-2021 where their rates rose over 500 basis points.

The ratio of non-performing loans to total loans increased 30 bps to 2.49% as of March 31, 2025, from 2.19% as of December 31, 2024. The increase in non-performing loans was led by a $6.9 million increase in non-performing SBA loans, and $881 thousand in leases.

Net charge-offs as a % of total average loans of 0.14% for the quarter ended March 31, 2025, decreased from 0.34% for the quarter ended December 31, 2024. Net charge-offs decreased to $2.8 million for the quarter ended March 31, 2025, compared to net charge-offs of $7.1 million for the quarter ended December 31, 2024. First quarter charge-offs consisted of $851 thousand on a protracted commercial advertising loan relationship, $738 thousand related to construction loans, $553 thousand of small ticket equipment leases which are charged-off after becoming more than 120 days past due, and $277 thousand in SBA loans. Overall there were recoveries of $175 thousand, largely related to leases and SBA loans.

The ratio of allowance for credit losses to total loans held for investment was 1.01% as of March 31, 2025, an increase from the coverage ratio of 0.91% as of December 31, 2024 due largely to the increase in specific reserves on non-performing loans in the quarter discussed above. As of March 31, 2025 there were specific reserves of $5.0 million against individually evaluated loans, an increase of $2.3 million from $2.7 million in specific reserves as of December 31, 2024. The specific reserve increase over the prior quarter was led by a $1.6 million increase in specific reserves on SBA loans, as well as increases of $535 thousand in commercial real estate loan specifics reserves and a $174 thousand increase in commercial loan specific reserves.

About Meridian Corporation

Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland. Through its 17 offices, including banking branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC.

“Safe Harbor” Statement

In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Meridian Corporation’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Meridian Corporation’s control). Numerous competitive, economic, regulatory, legal and technological factors, risks and uncertainties that could cause actual results to differ materially include, without limitation, credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cyber-security concerns; rapid technological developments and changes; increased competitive pressures; changes in spreads on interest-earning assets and interest-bearing liabilities; changes in general economic conditions and conditions within the securities markets; escalating tariff and other trade policies and the resulting impacts on market volatility and global trade; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; legislation affecting the financial services industry as a whole, and Meridian Corporation, in particular; changes in accounting policies, practices or guidance; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; among others, could cause Meridian Corporation’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. Meridian Corporation cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Meridian Corporation’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Meridian Corporation does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Meridian Corporation or by or on behalf of Meridian Bank.

MERIDIAN CORPORATION AND SUBSIDIARIES FINANCIAL RATIOS (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Earnings and Per Share Data:
Net income	$	2,399		$	5,600		$	4,743		$	3,326		$	2,676
Basic earnings per common share	$	0.21		$	0.50		$	0.43		$	0.30		$	0.24
Diluted earnings per common share	$	0.21		$	0.49		$	0.42		$	0.30		$	0.24
Common shares outstanding		11,285			11,240			11,229			11,191			11,186

Performance Ratios:
Return on average assets ⁽²⁾		0.40	%		0.92	%		0.80	%		0.58	%		0.47	%
Return on average equity ⁽²⁾		5.57			13.01			11.41			8.25			6.73
Net interest margin (tax-equivalent) ⁽²⁾		3.46			3.29			3.20			3.06			3.09
Yield on earning assets (tax-equivalent) ⁽²⁾		6.83			6.81			7.06			6.98			6.90
Cost of funds ⁽²⁾		3.56			3.71			4.05			4.10			4.00
Efficiency ratio		69.16	%		65.72	%		70.67	%		72.89	%		73.90	%

Asset Quality Ratios:
Net charge-offs (recoveries) to average loans		0.14	%		0.34	%		0.11	%		0.20	%		0.12	%
Non-performing loans to total loans		2.49			2.19			2.20			1.84			1.93
Non-performing assets to total assets		2.07			1.90			1.97			1.68			1.74
Allowance for credit losses to:
Total loans and other finance receivables		1.01			0.91			1.09			1.09			1.18
Total loans and other finance receivables (excluding loans at fair value) ⁽¹⁾		1.01			0.91			1.10			1.10			1.19
Non-performing loans		39.90	%		40.86	%		48.66	%		57.66	%		60.59	%

Capital Ratios:
Book value per common share	$	15.35		$	15.26		$	14.91		$	14.51		$	14.30
Tangible book value per common share	$	15.03		$	14.93		$	14.58		$	14.17		$	13.96
Total equity/Total assets		6.85	%		7.19	%		7.01	%		6.91	%		6.98	%
Tangible common equity/Tangible assets – Corporation ⁽¹⁾		6.72			7.05			6.87			6.76			6.82
Tangible common equity/Tangible assets – Bank ⁽¹⁾		8.61			9.06			8.95			8.85			8.93
Tier 1 leverage ratio – Bank		9.30			9.21			9.32			9.33			9.42
Common tier 1 risk-based capital ratio – Bank		10.15			10.33			10.17			9.84			9.87
Tier 1 risk-based capital ratio – Bank		10.15			10.33			10.17			9.84			9.87
Total risk-based capital ratio – Bank		11.14	%		11.20	%		11.22	%		10.84	%		10.95	%
(1) See Non-GAAP reconciliation in the Appendix
(2) Annualized

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025			December 31, 2024			March 31, 2024
Interest income:
Loans and other finance receivables, including fees	$	36,549		$	37,229		$	35,339
Securities – taxable		1,693			1,684			1,251
Securities – tax-exempt		313			314			325
Cash and cash equivalents		613			801			300
Total interest income		39,168			40,028			37,215
Interest expense:
Deposits		16,868			18,341			17,392
Borrowings and subordinated debentures		2,524			2,388			3,214
Total interest expense		19,392			20,729			20,606
Net interest income		19,776			19,299			16,609
Provision for credit losses		5,212			3,572			2,866
Net interest income after provision for credit losses		14,564			15,727			13,743
Non-interest income:
Mortgage banking income		3,393			5,516			3,634
Wealth management income		1,535			1,527			1,317
SBA loan income		748			1,143			986
Earnings on investment in life insurance		222			224			207
Net (loss) gain on sale of MSRs		(52	)		3,992			—
Gain on sale of OREO		—			317			—
Net change in the fair value of derivative instruments		149			(146	)		75
Net change in the fair value of loans held-for-sale		102			(163	)		(2	)
Net change in the fair value of loans held-for-investment		170			(552	)		(175	)
Net (loss) gain on hedging activity		21			192			(19	)
Other		1,036			1,229			1,961
Total non-interest income		7,324			13,279			7,984
Non-interest expense:
Salaries and employee benefits		11,385			12,429			10,573
Occupancy and equipment		1,338			2,270			1,233
Professional fees		763			1,134			1,498
Data processing and software		1,479			1,553			1,532
Advertising and promotion		779			839			748
Pennsylvania bank shares tax		269			243			274
Other		2,730			2,943			2,316
Total non-interest expense		18,743			21,411			18,174
Income before income taxes		3,145			7,595			3,553
Income tax expense		746			1,995			877
Net income	$	2,399		$	5,600		$	2,676

Basic earnings per common share	$	0.21		$	0.50		$	0.24
Diluted earnings per common share	$	0.21		$	0.49		$	0.24

Basic weighted average shares outstanding		11,205			11,158			11,088
Diluted weighted average shares outstanding		11,446			11,375			11,201

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Assets:
Cash and due from banks	$	16,976		$	5,598		$	12,542		$	8,457		$	8,935
Interest-bearing deposits at other banks		113,620			21,864			19,805			15,601			14,092
Federal funds sold		629			—			—			—			—
Cash and cash equivalents		131,225			27,462			32,347			24,058			23,027
Securities available-for-sale, at fair value		185,221			174,304			171,568			159,141			150,996
Securities held-to-maturity, at amortized cost		32,720			33,771			33,833			35,089			35,157
Equity investments		2,126			2,086			2,166			2,088			2,092
Mortgage loans held for sale, at fair value		28,047			32,413			46,602			54,278			29,124
Loans and other finance receivables, net of fees and costs		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Allowance for credit losses		(20,827	)		(18,438	)		(21,965	)		(21,703	)		(23,171	)
Loans and other finance receivables, net of the allowance for credit losses		2,050,848			2,011,999			1,986,431			1,966,832			1,933,144
Restricted investment in bank stock		8,369			7,753			8,542			10,044			8,560
Bank premises and equipment, net		12,028			12,151			12,807			13,114			13,451
Bank owned life insurance		29,935			29,712			29,489			29,267			29,051
Accrued interest receivable		10,345			9,958			10,012			9,973			9,864
Other real estate owned		159			159			1,862			1,862			1,703
Deferred income taxes		5,136			4,669			3,537			3,950			4,339
Servicing assets		4,284			4,382			4,364			11,341			11,573
Servicing assets held for sale		—			—			6,609			—			—
Goodwill		899			899			899			899			899
Intangible assets		2,716			2,767			2,818			2,869			2,920
Other assets		24,528			31,382			33,835			26,779			37,023
Total assets	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923

Liabilities:
Deposits:
Non-interest bearing	$	323,485		$	240,858		$	237,207		$	224,040		$	220,581
Interest bearing
Interest checking		161,055			141,439			133,429			130,062			121,204
Money market and savings deposits		947,795			913,536			822,837			787,479			797,525
Time deposits		696,407			709,535			785,454			773,855			761,386
Total interest-bearing deposits		1,805,257			1,764,510			1,741,720			1,691,396			1,680,115
Total deposits		2,128,742			2,005,368			1,978,927			1,915,436			1,900,696
Borrowings		139,590			124,471			144,880			187,260			145,803
Subordinated debentures		49,761			49,743			49,928			49,897			49,867
Accrued interest payable		7,404			6,860			7,017			7,709			8,350
Other liabilities		29,823			27,903			39,519			28,900			28,271
Total liabilities		2,355,320			2,214,345			2,220,271			2,189,202			2,132,987

Stockholders’ equity:
Common stock		13,288			13,243			13,232			13,194			13,189
Surplus		81,724			81,545			81,002			80,639			80,487
Treasury stock		(26,079	)		(26,079	)		(26,079	)		(26,079	)		(26,079	)
Unearned common stock held by employee stock ownership plan		(1,006	)		(1,006	)		(1,204	)		(1,204	)		(1,204	)
Retained earnings		112,952			111,961			107,765			104,420			102,492
Accumulated other comprehensive loss		(7,613	)		(8,142	)		(7,266	)		(8,588	)		(8,949	)
Total stockholders’ equity		173,266			171,522			167,450			162,382			159,936
Total liabilities and stockholders’ equity	$	2,528,586		$	2,385,867		$	2,387,721		$	2,351,584		$	2,292,923

MERIDIAN CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND SEGMENT INFORMATION (Unaudited) (Dollar amounts and shares in thousands, except per share amounts)

	Three Months Ended
	March 31, 2025		December 31, 2024		September 30, 2024		June 30, 2024		March 31, 2024
Interest income	$	39,168	$	40,028	$	40,319	$	38,465	$	37,215
Interest expense		19,392		20,729		22,077		21,619		20,606
Net interest income		19,776		19,299		18,242		16,846		16,609
Provision for credit losses		5,212		3,572		2,282		2,680		2,866
Non-interest income		7,324		13,279		10,831		9,244		7,984
Non-interest expense		18,743		21,411		20,546		19,018		18,174
Income before income tax expense		3,145		7,595		6,245		4,392		3,553
Income tax expense		746		1,995		1,502		1,066		877
Net Income	$	2,399	$	5,600	$	4,743	$	3,326	$	2,676

Basic weighted average shares outstanding		11,205		11,158		11,110		11,096		11,088
Basic earnings per common share	$	0.21	$	0.50	$	0.43	$	0.30	$	0.24

Diluted weighted average shares outstanding		11,446		11,375		11,234		11,150		11,201
Diluted earnings per common share	$	0.21	$	0.49	$	0.42	$	0.30	$	0.24

	Segment Information
	Three Months Ended March 31, 2025												Three Months Ended March 31, 2024
(dollars in thousands)	Bank			Wealth			Mortgage			Total			Bank			Wealth			Mortgage			Total
Net interest income	$	19,706		$	9		$	61		$	19,776		$	16,592		$	(6	)	$	23		$	16,609
Provision for credit losses		5,212			—			—			5,212			2,866			—			—			2,866
Net interest income after provision		14,494			9			61			14,564			13,726			(6	)		23			13,743
Non-interest income		1,912			1,535			3,877			7,324			1,874			1,317			4,793			7,984
Non-interest expense		12,758			818			5,167			18,743			12,060			833			5,281			18,174
Income (loss) before income taxes	$	3,648		$	726		$	(1,229	)	$	3,145		$	3,540		$	478		$	(465	)	$	3,553
Efficiency ratio		59	%		53	%		131	%		69	%		65	%		64	%		110	%		74	%

MERIDIAN CORPORATION AND SUBSIDIARIES
APPENDIX: NON-GAAP MEASURES (Unaudited)
(Dollar amounts and shares in thousands, except per share amounts)

Meridian believes that non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts. The non-GAAP disclosure have limitations as an analytical tool, should not be viewed as a substitute for performance and financial condition measures determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of Meridian’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

	Pre-provision Net Revenue Reconciliation
	Three Months Ended
(Dollars in thousands, except per share data, Unaudited)	March 31, 2025		December 31, 2024		March 31, 2024
Income before income tax expense	$	3,145	$	7,595	$	3,553
Provision for credit losses		5,212		3,572		2,866
Pre-provision net revenue	$	8,357	$	11,167	$	6,419

	Pre-Provision Net Revenue Reconciliation
	Three Months Ended
(Dollars in thousands, except per share data, Unaudited)	March 31, 2025			December 31, 2024		March 31, 2024
Bank	$	8,860		$	8,205	$	6,406
Wealth		726			571		478
Mortgage		(1,229	)		2,391		(465	)
Pre-provision net revenue	$	8,357		$	11,167	$	6,419

	Allowance For Credit Losses (ACL) to Loans and Other Finance Receivables, Excluding and Loans at Fair Value
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Allowance for credit losses (GAAP)	$	20,827		$	18,438		$	21,965		$	21,703		$	23,171

Loans and other finance receivables (GAAP)		2,071,675			2,030,437			2,008,396			1,988,535			1,956,315
Less: Loans at fair value		(14,182	)		(14,501	)		(13,965	)		(12,900	)		(13,139	)
Loans and other finance receivables, excluding loans at fair value (non-GAAP)	$	2,057,493		$	2,015,936		$	1,994,431		$	1,975,635		$	1,943,176

ACL to loans and other finance receivables (GAAP)		1.01	%		0.91	%		1.09	%		1.09	%		1.18	%
ACL to loans and other finance receivables, excluding loans at fair value (non-GAAP)		1.01	%		0.91	%		1.10	%		1.10	%		1.19	%

	Tangible Common Equity Ratio Reconciliation – Corporation
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Total stockholders’ equity (GAAP)	$	173,266		$	171,522		$	167,450		$	162,382		$	159,936
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible common equity (non-GAAP)		169,651			167,856			163,733			158,614			156,117

Total assets (GAAP)		2,528,586			2,385,867			2,387,721			2,351,584			2,292,923
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible assets (non-GAAP)	$	2,524,971		$	2,382,201		$	2,384,004		$	2,347,816		$	2,289,104
Tangible common equity to tangible assets ratio – Corporation (non-GAAP)		6.72	%		7.05	%		6.87	%		6.76	%		6.82	%

	Tangible Common Equity Ratio Reconciliation – Bank
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Total stockholders’ equity (GAAP)	$	220,768		$	219,119		$	217,028		$	211,308		$	208,319
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible common equity (non-GAAP)		217,153			215,453			213,311			207,540			204,500

Total assets (GAAP)		2,525,029			2,382,014			2,385,994			2,349,600			2,292,894
Less: Goodwill and intangible assets		(3,615	)		(3,666	)		(3,717	)		(3,768	)		(3,819	)
Tangible assets (non-GAAP)	$	2,521,414		$	2,378,348		$	2,382,277		$	2,345,832		$	2,289,075
Tangible common equity to tangible assets ratio – Bank (non-GAAP)		8.61	%		9.06	%		8.95	%		8.85	%		8.93	%

	Tangible Book Value Reconciliation
	March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Book value per common share	$	15.35		$	15.26		$	14.91		$	14.51		$	14.30
Less: Impact of goodwill /intangible assets		0.32			0.33			0.33			0.34			0.34
Tangible book value per common share	$	15.03		$	14.93		$	14.58		$	14.17		$	13.96

The MIL Network –

April 26, 2025

MIL-OSI: DTE Completes Construction on Pine River Solar Park

Source: GlobeNewswire (MIL-OSI)

Detroit, April 25, 2025 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE), Michigan’s largest producer of and investor in renewable energy, announced that construction has been completed at Pine River Solar Park during a ribbon-cutting ceremony at the site today. Located in mid-Michigan’s Pine River Township, the 80-megawatt renewable energy development has more than 180,000 solar panels and will generate enough clean energy to power nearly 20,000 homes.

Pine River Solar is the second of DTE’s three new solar parks to be connected to the electric grid in 2025, and the company has five additional parks under construction. These projects are reflective of DTE’s customers’ demand for clean energy and are funded through the company’s voluntary CleanVision MIGreenPower, which is Michigan’s largest community solar program. This customer interest is also helping to fuel DTE’s progress toward its goal of achieving net zero carbon emissions and reaching Michigan’s new renewable energy standard of 60% by 2035.

“The completion of Pine River Solar will be another milestone in what has been DTE’s most active period of renewable development in its history,” said Matt Paul, president and chief operating officer, DTE Electric. “This is further evidence that DTE is the state’s leading investor and operator of renewable energy, and it also demonstrates DTE’s commitment to supporting economic development and thriving communities through local tax revenues that are improving the daily lives of our host communities’ residents.”

Since 2009, DTE’s investments in renewable energy have created an estimated 20,000 jobs in Michigan. Additionally, the new park will bring Gratiot County and Pine River Township significant added tax revenue over the life of the project, which can be used for roads, schools, first responders and other vital community services.

“We’re pleased to have developed a business relationship with DTE that began with Pine River Wind back in 2019,” said Kevin Beeson, Pine River Township supervisor. “When the company more recently approached us with their solar plans, we were confident that both sides wanted a successful project. From early planning through construction and startup, DTE was a partner willing to revise plans to accommodate resident input and township demands. Pine River Solar will further solidify DTE as our community’s largest taxpayer. We value their commitment to our township, and we look forward to their continued success in the renewable energy world.”

DTE already generates enough clean energy from wind and solar projects to power more than 750,000 homes and plans to power the equivalent of nearly 6 million homes with renewable energy by 2042. The company’s MIGreenPower program has enrolled nearly 100,000 residential and 1,600 business customers, with plans to add more than 2,400 megawatts of new wind and solar to support those enrollments over the next 10 years.

About DTE Energy

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/dte_energy and facebook.com/dteenergy.

The MIL Network –

April 26, 2025

MIL-OSI: American Rebel CEO Andy Ross Harnesses Media Appearance on NBC-TV West Palm Beach Affiliate to Amplify Growth Strategy, Propel Brand Expansion and Launch American Rebel Light Beer in Florida

Source: GlobeNewswire (MIL-OSI)

From Song to Strategy: American Rebel’s CEO Andy Ross Shares the Brand’s Journey with Sunshine Spotlight Host Fiona Daghir Detailing the Journey of America’s Patriotic Brand to Becoming the Next Great American Success Story.

West Palm Beach, FL, April 25, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), is pleased to share its CEO Andy Ross’ TV interview on the NBC-TV affiliate in West Palm Beach, Florida – WPTV. Sunshine Spotlight host Fiona Daghir (instagram.com/fionadaghir) and Andy share the American Rebel origin story of how Andy’s song “American Rebel,” which appeared on Andy’s 2013 album Time to Fight, became the blueprint for the creation of American Rebel – America’s Patriotic Brand.

“I had incorporated music into my TV show Maximum Archery World Tour as early as 2010 and the song ‘American Rebel’ was my way of summing up my core values and way of life. When I shared the song and video cut with entrepreneur and businessman Corey Lambrecht, Corey said ‘that’s your brand. You need to build your brand around American Rebel and use this patriotic anthem as your mission and values statement.’ I had just had a similar conversation with my record producer Doug Grau. Doug had said that music artists needed to find other ways to monetize their music due to the file sharing phenomenon of the early 2000s. Corey and Doug both helped me start American Rebel in 2015 and we haven’t looked back. I wanted to see American Rebel beer, American Rebel motor oil, American Rebel grills, American Rebel tools. I want Susie to go up to mom and say ‘Mom, what’s Dad want for Father’s Day and she says honey, anything with American Rebel on it.’ We’re a lifestyle brand. Our first products were concealed carry backpacks and jackets, and then we launched American Rebel safes. In February 2022 we uplisted to NASDAQ under the AREB symbol and then we acquired our OEM safe manufacturer Champion Safe (championsafe.com). Champion has been around since 1999, and they manufacture and market our American Rebel safes in addition to their Champion and Superior brands. When an opportunity in the beer market presented itself, we decided to launch America’s Patriotic, God Fearing, Constitution Loving, National Anthem Singing, Stand Your Ground Beer, and the response has been amazing. Customers love what we stand for and they love the beer. American Rebel Light Beer is a premium domestic light lager with no corn syrup or rice extract to sweeten the beer like our competition. We use all natural ingredients. This produces a fuller flavored beer while still hitting the light beer profile – 100 calories and 3.2 carbs. People will gravitate to the marketing; but they’ll only continue as customers if they love the liquid.”

NBC WPTV interview can be found here: click here for interview

About American Rebel Light Beer

Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

About American Rebel Holdings, Inc.

American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com and americanrebelbeer.com. For investor information, visit americanrebelbeer.com/investor-relations.

American Rebel Holdings, Inc.
info@americanrebel.com

American Rebel Beverages, LLC
Todd Porter, President
tporter@americanrebelbeer.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. 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 publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
tporter@americanrebelbeer.com
info@americanrebel.com

Media Contact:
Matt Sheldon
Matt@PrecisionPR.co

Attachment

American Rebel Holdings Inc

The MIL Network –

April 26, 2025

MIL-OSI: ReversingLabs Delivers Most Comprehensive Support for CycloneDX xBOM

Source: GlobeNewswire (MIL-OSI)

CAMBRIDGE, Mass., April 25, 2025 (GLOBE NEWSWIRE) — ReversingLabs (RL), the trusted name in file and software security, today announced the launch of leading support for eXtended Bill of Materials (xBOM) capabilities with Spectra Assure™. Available now, these new features include the Cryptographic Bill of Materials (CBOM), Software-as-a-Service Bill of Materials (SaaSBOM), and Machine Learning Bill of Materials (ML-BOM), marking an industry first for fully compiled commercial software. This innovation provides both software producers and enterprise buyers with unprecedented visibility into the components, services, and risks hidden within today’s increasingly complex software ecosystems.

First-to-Market for Most Comprehensive Support for CycloneDX
OWASP CycloneDX is a full-stack Bill of Materials (BOM) standard that provides advanced supply chain capabilities for cyber risk reduction. CycloneDX is an international standard ratified by Ecma International as ECMA-424.

“CycloneDX elevates traditional SBOMs into a truly extensible, machine‑readable framework that captures critical supply chain metadata,” said Steve Springett, Chair of OWASP CycloneDX and Ecma TC54. “ReversingLabs Spectra Assure takes full advantage of these advanced specification features to deliver deep transparency and empower organizations to drive targeted risk reduction efforts.”

With the evolution of software supply chain security, traditional ingredient-only SBOMs lack context and do little to address emerging risks. The Spectra Assure SAFE report includes the most comprehensive SBOM and risk assessment of an application to identify malware, tampering, suspicious behaviors, and more. With expanded xBOM support, Spectra Assure now offers comprehensive inventories with actionable security assessments for cryptographic assets, SaaS dependencies, and machine learning models. Producers are further empowered with the ability to edit SBOM components and declare SaaS services and ML models. The ability to go beyond the SBOM is critical as businesses increasingly face challenges such as quantum computing threats, interconnected cloud services, and AI-driven vulnerabilities.

The new xBOM capabilities include the CBOM, ML-BOM, SaaSBOM, and the ability to declare and edit xBOM data.

“ReversingLabs is proud to lead the charge in redefining software transparency with our xBOM capabilities,” said Tomislav Peričin, Chief Software Architect and co-founder at RL. “By offering an unparalleled view into cryptographic assets, SaaS dependencies, and machine learning models, we empower our customers with the visibility and context to build and buy software with confidence.”

Prepares Businesses for AI and Quantum Computing Threats
As software becomes more intelligent and interconnected, organizations must go beyond traditional SBOMs to meet escalating transparency demands. The xBOM capabilities offered by Spectra Assure enable businesses to:

Prepare for Quantum Computing Threats: CBOM provides insight into cryptographic assets that could be exploited by quantum computing advancements.
Understand SaaS Dependencies: SaaSBOM ensures visibility into external services that software relies on, reducing risks from third-party integrations.
Gain AI Supply Chain Visibility: ML-BOM identifies potentially malicious open-source models before they can be integrated into your products or deployed into your organization.

Enables Regulatory Compliance
Support for these new xBOM capabilities will help both software producers and their enterprise buyers adhere to increasingly strict compliance mandates. These include:

NIST AI Risk Management Framework (AI RMF): ML-BOM helps assess, manage, and mitigate risks throughout the AI lifecycle.
EU AI Act: ML-BOM enables compliance with strict risk-based obligations for AI systems in high-impact sectors.
ISO/IEC 42001 – ML-BOM helps with the first international standard for AI management systems, covering governance, transparency, and operational controls.
NIST 1800 38b – CBOM facilitates the Post-Quantum Readiness through cryptographic discovery.
EU Digital Operational Resilience Act (DORA): Enables proprietary software from ICT third-party service providers to be properly analyzed prior to deployment.
EU Cyber Resilience Act (CRA): Enable software manufacturers to generate the most comprehensive SBOM/xBOM.

Replaces the Inherent Trust Model and Manual Questionnaires
Traditionally, enterprise buyers have been relatively powerless when it comes to software supply chain security. Despite the fact that it is their responsibility to ensure the security of the software they bring into their organization, they have lacked any real control mechanism. Instead, they have relied on an inherent trust model that leans on security questionnaires and incomplete visibility into software components, associated services, and now AI, ML, and cryptographic components.

With Spectra Assure, they can source this information without relying on their vendor. The Spectra Assure SAFE report provides a complete xBOM along with any critical risks – without the need for source code.

Eliminates Friction of Software Supply Chain Security and Acquisition
The lack of transparency into software components and risk slows the purchase and deployment of software, impacting both software producers and buyers.

“Our xBOM support represents a new dimension of transparency for software. With xBOM, publishers can declare, and consumers can verify, software safety claims. This is a game changer for the software industry,” continued Peričin. “As a software vendor, I’m all too familiar with questionnaires and spreadsheets requested by security and procurement teams, which provide no real visibility into the real risk of an application. xBOM support expands Spectra Assure’s ability to quickly provide all the critical analysis and insights, eliminating the need for filling out questionnaires and time-consuming back and forth.”

Additional Information
For more information about the new xBOM capabilities in ReversingLabs Spectra Assure click here, schedule a demo, attend our webinar Beyond the SBOM: Welcome CycloneDX xBOM or meet with us at RSAC 2025, April 28 – May 1, 2025, San Francisco, Moscone Center, Booth N-4428.

About ReversingLabs
ReversingLabs is the trusted name in file and software security. We provide the modern cybersecurity platform to verify and deliver safe binaries. Trusted by the Fortune 500 and leading cybersecurity vendors, RL Spectra Core powers the software supply chain and file security insights, tracking over 422 billion searchable files with the ability to deconstruct full software binaries in seconds to minutes. Only ReversingLabs provides that final exam to determine whether a single file or full software binary presents a risk to your organization and your customers.

Media Contact
Doug Fraim
Guyer Group
Doug@Guyergroup.com

The MIL Network –

April 26, 2025

MIL-OSI: 114 Million Reasons to Keep Moving Forward on Industry-Led Standard for Secure Data Sharing

Source: GlobeNewswire (MIL-OSI)

SALT LAKE CITY, April 25, 2025 (GLOBE NEWSWIRE) — The Financial Data Exchange (FDX) is pleased to report that the use of standardized APIs to enable secure, permissioned data sharing continues to grow. According to a recent survey, roughly 114 million customer connections are now happening through APIs aligned to the FDX standard.

This represents a remarkable 50% increase from the comparable figure of 76 million a year ago, and a sizable jump from 96 million just 6 months ago.

Here’s what this means for the industry:

More and more consumers are connecting their financial accounts with third-party apps and services.
More and more institutions are seeing benefits from building standardized, FDX-aligned API integrations to protect their customers’ sensitive financial data.
The FDX API standard is solidly rooted as the leading method in North America for building APIs to enable safe, user-permissioned connections.
Industry-led standard-setting and collaboration at FDX is helping companies to improve interoperability when they integrate. Achieving this level of adoption wouldn’t be possible without many organizations working together at FDX to create and evolve standards that meet the needs of the industry.
Amid a shifting regulatory environment, API adoption continues to move forward as more firms see benefits for their customers.
There’s still more work ahead. Tens of millions of consumers and small businesses in North America are still sharing financial data through methods that require sharing login credentials with third parties and may offer less customer control. FDX remains committed to making it easier for companies of all sizes to build interoperable, secure integrations in the months ahead.

“Hitting 114 million customers connections reflects both the scale of FDX’s impact and the power of industry-led collaboration to drive interoperability,” said Kevin Feltes, CEO of FDX.

The data reflects findings from FDX’s Spring 2025 Adoption Metrics Survey.

About FDX
Financial Data Exchange (FDX) is a non-profit organization operating in the US and Canada that is dedicated to unifying the ﬁnancial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data. FDX empowers users through its commitment to the development, growth, and industry-wide adoption of the FDX API, according to the principles of control, access, transparency, traceability, and security. Membership is open to financial institutions, fintech companies, financial data aggregators, consumer advocacy groups, payment networks and other industry stakeholders. For more information and to join, visit www.financialdataexchange.org.

Contact Info:
Porche Matthews
Marketing Manager
pmatthews@financialdataexchange.org

The MIL Network –

April 26, 2025

MIL-OSI: Approval of Convertible Loan Note Amendments

Source: GlobeNewswire (MIL-OSI)

Global InterConnection Group announces the Approval of Convertible Loan Note Amendments following Agreement of the Atlantic SuperConnection Spin-Out and Supporting Right of First Refusal Process. Please see the full press release attached.

Attachment

Right of First Refusal for CLN investment

The MIL Network –

April 26, 2025

MIL-OSI: Advantage Solutions Announces Date for its First Quarter 2025 Financial Results and Conference Call

Source: GlobeNewswire (MIL-OSI)

ST. LOUIS, April 25, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) announced today that it will release financial results for the first quarter at 7 a.m. EDT on May 12, 2025, followed by a conference call at 8:30 a.m. EDT on the same day.

The conference call can be accessed live over the phone by dialing 1-800-267-6316, or for international callers, 1-203-518-9783. The conference ID is ADVQ1. Approximately three hours after the call, a replay will be available by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode is 11158789. The replay recording will be available until May 19, 2025.

Interested investors and other parties may also listen to a simultaneous conference call webcast by logging onto the Investor Relations section of the Advantage Solutions website at ir.youradv.com/. The online replay will be available for a limited time shortly following the call.

About Advantage Solutions

Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit youradv.com.

Investor Contacts:
Ruben Mella
investorrelations@youradv.com

Media Contacts:
Peter Frost
press@youradv.com

The MIL Network –

April 26, 2025

MIL-OSI: Credit Agricole Nord de France – Resultats Financiers au 31 Mars 2025

Source: GlobeNewswire (MIL-OSI)

Lille, le 25 avril 2025

Résultats financiers au 31 Mars 2025
du Crédit Agricole Mutuel Nord de France

Mars 2025

Mars 2024

Variation

Activité :
Encours de collecte globale	38 929 M€	37 777 M€	3,05%
Encours de crédit*	28 728 M€	28 703 M€	0,09%

*Résultats sociaux :**
Produit Net Bancaire	136,7 M€	141,4 M€	-3,36%
Résultat Brut d’Exploitation	32,5 M€	42,9 M€	-24,15%
Résultat Net	20,6 M€	22,9 M€	-9,88%

Résultats consolidés IFRS :
Produit Net Bancaire	153,1 M€	149,4 M€	2,46%
Résultat Brut d’Exploitation	36,0 M€	38,0 M€	-5,27%
Résultat Net Part du Groupe	17,2 M€	13,9 M€	23,70%

Structure financière :
Bilan consolidé	38 558 M€	38 235 M€**	0,84%
Ratio CET1 Bâle 3	28,80%***	28,62%	0,18 pts
Ratio de liquidité LCR 1 mois****	123,14%	136,62%	-13,48 pts
Ratio Crédit Collecte (yc Greenlease)	124,07%	125,60%	-1,53 pts

Le Conseil d’Administration a arrêté, lors de sa séance du 25 Avril 2025, les Comptes sociaux et consolidés du Crédit Agricole Nord de France au 31 Mars 2025.

Activité commerciale

Depuis le 1^er janvier, près de 17 800 clients ont rejoint la Caisse Régionale, portant le total de clients à plus d’1,15 million.

Les réalisations de crédit progressent de 9,5 % par rapport à 2024, pour s’établir à 0,9 Mrd€ sur le 1^er trimestre 2025. Les encours de crédit s’établissent ainsi à 28,7 Mrds€, en légère progression de 0,1% avec des réalisations de crédits habitat qui progressent de façon marquée de 50,2 % par rapport à 2024.

L’encours d’épargne progresse de 3,1 % sur 12 mois, pour s’établir à 38,9 Mrds€. Cette épargne continue à être portée par la hausse des livrets A (+9,1%) et des dépôts à terme (+9,3%) qui s’élèvent désormais respectivement à 3,9 Mrds€ et à 4,3 Mrds€. Le coût global de la collecte se stabilise alors que le rendement des encours de crédit progresse, permettant un redressement de la marge d’intermédiation après deux années de dégradation liée à la forte hausse des taux de 2022 et 2023.

L’activité Assurances se maintient à un niveau élevé, avec un nombre de contrats d’assurance de biens et de personnes qui progresse de 38 000 contrats, soit une hausse de 5,8% sur un an.

Résultat social

Le Produit Net Bancaire de la Caisse Régionale, à 136,7 M€, est en baisse de -3,4%. Ce résultat est impacté par des opérations de restructuration de dettes et de gestion d’excédents de liquidité ayant pour objectif d’optimiser la structure financière de la Caisse régionale pour les prochaines années. Hormis ces effets exceptionnels, la marge d’intermédiation continue de se redresser et la dynamique de l’activité commerciale permet une progression de 8 % de nos commissions.

Les charges générales d’exploitation affichent une hausse de 5,7%. Cette évolution est directement liée à la progression de nos activités et au développement des outils digitaux. La poursuite de l’optimisation de nos process doit permettre une compensation progressive de ces hausses durant l’année 2025.

La Caisse Régionale affiche un coût du risque en baisse de 10,1 M€, à -8,1 M€. Après une année 2024 qui a vu une hausse sensible du risque sur le marché des entreprises et des professionnels, la banque reste vigilante sur le niveau de provisionnement de ses encours.

Le résultat net social intègre une reprise du FRBG (Fonds pour Risques Bancaires Généraux) de 4 M€ comme en 2024.

Il s’établit à 20,6 M€, stable sur un an hormis la comptabilisation d’une anticipation de la surtaxe d’impôt sur les sociétés à hauteur de 2,5 M€ à fin mars.

Résultat consolidé

Le résultat net consolidé du Groupe Crédit Agricole Nord de France s’élève à 17,2 M€, en hausse de 23,7% sur un an, en lien principalement avec l’évolution du coût du risque de la Caisse Régionale et la neutralisation du FRBG.

La contribution des Pôles métiers au résultat net consolidé s’établit comme suit :

Pôle Bancassurance : 17,3 M€ contre 12,7 M€ au 31 Mars 2024,
Pôle Capital Investissement : – 0,8 M€ contre 1,0 M€ au 31 Mars 2024,
Pôle Foncière : 1,1 M€ contre 1,2 M€ au 31 Mars 2024,
Pôle Immobilier : – 0,4 M€ contre – 0,6 M€ au 31 Mars 2024,
Pôle Innovation : 0 M€ contre – 0,4 M€ au 31 Mars 2024.

CCI Nord de France

Le Certificat coopératif d’investissement a clôturé à 17,25 € au 31 mars 2025, en hausse de 42,5% depuis le 31 mars 2024.

Perspectives

Le début d’année 2025 est marqué par une montée des incertitudes économiques et géopolitiques impactant l’évolution des taux. Cette situation pourrait affecter le coût de la collecte et le rendement de nos crédits mais les fondamentaux de la marge d’intermédiation restent aujourd’hui bien orientés. Malgré cet environnement incertain, la région affiche une reprise économique sur la fin du trimestre : le Crédit Agricole Nord de France accompagne ce développement tout en restant vigilant sur la maitrise de son niveau de risque. L’ambition de trajectoire de résultat de la Caisse Régionale est maintenue.

* Encours intégrant les titrisations de crédits habitat. Résultats financiers Comptes sociaux hors véhicules de titrisation.
** Bilan d’ouverture au 31 décembre 2024
***Ratio CET1 au 31 Décembre 2024

*** *Ratio Liquidity Coverage Ratio (LCR) : moyennes sur 12 mois glissants des ratios LCR fin de mois

Attachment

Communiqué Résultats Financiers au 31 mars 2025

The MIL Network –

April 26, 2025

MIL-OSI: Penns Woods Bancorp, Inc. Reports First Quarter 2025 Earnings

Source: GlobeNewswire (MIL-OSI)

WILLIAMSPORT, Pa., April 25, 2025 (GLOBE NEWSWIRE) — Penns Woods Bancorp, Inc. (NASDAQ: PWOD)

Penns Woods Bancorp, Inc. achieved net income of $7.4 million for the three months ended March 31, 2025, resulting in basic earnings per share of $0.97 and diluted earnings per share of $0.95.

Highlights

Net income, as reported under generally accepted accounting principles (GAAP), for the three months ended March 31, 2025 was $7.4 million, compared $3.8 million for the same period of 2024. Results for the three months ended March 31, 2025 compared to 2024 were impacted by an increase in net interest income of $2.4 million, as the net interest margin expanded. The three month period ended March 31, 2025 has been impacted by after-tax merger related expenses of $948,000 resulting from the announced acquisition of the company by Northwest Bancshares, Inc. The disposal of assets related to two former branch properties resulted in a one time after-tax loss of $261,000 for the three month period ended March 31, 2024.
The allowance for credit losses was impacted for the three months ended March 31, 2025 by a negative provision for credit losses of $3.0 million, compared to a provision for credit losses of $138,000 for the 2024 period. The recognition of a negative provision for credit losses for the 2025 period was due primarily to a recovery on a commercial loan of $1.3 million. The recovery, coupled with a decline in the historical loss rates over the look back period, reduced the probability of default and loss given default applied to the loan portfolio when determining the level of the allowance for credit losses.
Basic and diluted earnings per share for the three months ended March 31, 2025 were $0.97 and $0.95, respectively. This compares to basic and diluted earnings per share of $0.51 for the three month period ended March 31, 2024.
Annualized return on average assets was 1.31% for the three months ended March 31, 2025, compared to 0.69% for the corresponding period of 2024.
Annualized return on average equity was 14.76% for the three months ended March 31, 2025, compared to 8.03% for the corresponding period of 2024.

Net Income

Net income from core operations (“core earnings”), which is a non-GAAP measure of net income excluding net securities gains or losses and merger expenses, was $8.1 million for the three months ended March 31, 2025 compared to $3.8 million for the same period of 2024. Core earnings per share (non-GAAP) for the three months ended March 31, 2025 were basic $1.06 and diluted $1.04. Basic and diluted core earnings per share for the same period of 2024 were $0.51. Annualized core return on average assets and core return on average equity (non-GAAP) were 1.43% and 16.15%, respectively, for the three months ended March 31, 2025, compared to 0.69% and 8.09% for the corresponding period of 2024. A reconciliation of the non-GAAP financial measures of core earnings, core return on assets, core return on equity, core earnings per share and tangible book value per share to the comparable GAAP financial measures is included at the end of this press release.

Net Interest Margin

The net interest margin for the three months ended March 31, 2025 was 3.13% compared to 2.69% for the corresponding period of 2024. The increase in the net interest margin for the three month period was driven by an increase in the rate collected on interest-earning assets of 38 basis points (“bps”). The overall market conditions over the periods resulted in increases to the yield on the earnings asset portfolio and a decrease in the rate paid on interest-bearing deposits. Driving the increase in the yield and interest income on the earning assets portfolio was the repricing of legacy assets, portfolio growth, and the recognition of $223,000 in interest from a recovery on a commercial loan. The average loan portfolio balance increased $41.8 million for the three month period ended March 31, 2025 compared to the same period of 2024 as the average yield on the portfolio increased 40 bps, resulting in an increase in taxable equivalent interest income of $2.2 million for the period. The three month period ended March 31, 2025 was impacted by an increase of 30 bps in the yield earned on the securities portfolio as legacy securities matured, which offset the impact of a decrease in average securities balance of $15.0 million. Short-term borrowings decreased leading to a decrease of $949,000 in expense for the three month period ended March 31, 2025 compared to the same period of 2024. The rate paid on interest-bearing deposits increased 4 bps, or $781,000, in expense for the three month period ended March 31, 2025 compared to the corresponding period of 2024 due to the rate environment, an increase in competition for deposits, increased utilization of brokered deposits, and a migration of deposit balances from core deposits to higher rate time deposits. The average balance of time deposits increased $99.9 million from the three month period ended March 31, 2024 to 2025 as the rate paid on the funds decreased 9 bps. In addition, brokered deposits have been utilized to assist with funding the loan portfolio growth and contributed to the increase in time deposit balances, while lowering the reliance on higher cost short-term borrowings.

Assets

Total assets increased to $2.3 billion at March 31, 2025, an increase of $42.1 million compared to March 31, 2024. Net loans increased $43.3 million to $1.9 billion at March 31, 2025 compared to March 31, 2024, as continued emphasis was placed on commercial loan growth and indirect auto lending. The investment portfolio decreased $14.3 million from March 31, 2024 to March 31, 2025 as the portfolio cash flow is being utilized to fund loan growth. Short-term and long-term borrowings decreased $28.3 million and $47.2 million, respectively, from March 31, 2024 to March 31, 2025 as deposit growth allowed for a reduction in total borrowings.

Non-performing Loans

The ratio of non-performing loans to total loans ratio increased to 0.53% at March 31, 2025 from 0.43% at March 31, 2024, as non-performing loans increased to $10.0 million at March 31, 2025 from $8.0 million at March 31, 2024. The majority of non-performing loans involve loans that are either in a secured position and have sureties with a strong underlying financial position or have been classified as individually evaluated loans that have a specific allocation recorded within the allowance for credit losses. Net loan recoveries of $957,000 for the three months ended March 31, 2025, impacted the allowance for credit losses, which was 0.54% of total loans at March 31, 2025 compared to 0.62% at March 31, 2024. Exposure to non-owner occupied office space is minimal at $13.7 million at March 31, 2025 with none of these loans being delinquent.

Deposits

Deposits increased $105.4 million to $1.7 billion at March 31, 2025 compared to March 31, 2024. Noninterest-bearing deposits decreased $5.7 million to $465.8 million at March 31, 2025 compared to March 31, 2024. Core deposits increased $3.6 million with growth in money market accounts offsetting a decline in savings and NOW accounts. Core deposit gathering efforts remained focused on increasing the utilization of electronic (internet and mobile) deposit banking by our customers. Core deposits have remained stable at $1.2 billion over the past five quarters. Interest-bearing deposits increased $111.1 million from March 31, 2024 to March 31, 2025 due to growth in the time deposit portfolio of $50.6 million as customers sought a higher rate of interest. Brokered deposit balances increased $51.2 million to $177.0 million at March 31, 2025 as this funding source was utilized to supplement funding loan portfolio growth, while reducing the need to draw upon available borrowing lines. A campaign to attract time deposits with a maturity of five to twenty-four months commenced during the latter part of 2022 and has continued throughout 2024 and 2025.

Shareholders’ Equity

Shareholders’ equity increased $18.5 million to $212.0 million at March 31, 2025 compared to March 31, 2024. Accumulated other comprehensive loss of $3.5 million at March 31, 2025 decreased from a loss of $9.2 million at March 31, 2024 as a result of a decrease in net unrealized loss on available for sale securities to $2.8 million at March 31, 2025 from a net unrealized loss of $6.4 million at March 31, 2024, coupled with a decrease in loss of $2.0 million in the defined benefit plan obligation. The current level of shareholders’ equity equates to a book value per share of $27.85 at March 31, 2025 compared to $25.72 at March 31, 2024, and an equity to asset ratio of 9.41% at March 31, 2025 and 8.76% at March 31, 2024. Tangible book value per share (a non-GAAP measure) increased to $25.67 at March 31, 2025 compared to $23.50 at March 31, 2024. Dividends declared for the three months ended March 31, 2025 and 2024 were $0.32 per share.

Penns Woods Bancorp, Inc. is the parent company of Jersey Shore State Bank, which operates sixteen branch offices providing financial services in Lycoming, Clinton, Centre, Montour, Union, and Blair Counties, and Luzerne Bank, which operates eight branch offices providing financial services in Luzerne County, and United Insurance Solutions, LLC, which offers insurance products. Investment and insurance products are offered through Jersey Shore State Bank’s subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group.

NOTE: This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Management uses the non-GAAP measure of net income from core operations in its analysis of the company’s performance. This measure, as used by the Company, adjusts net income determined in accordance with GAAP to exclude the effects of special items, including significant gains or losses that are unusual in nature such as net securities gains and losses. Because these certain items and their impact on the Company’s performance are difficult to predict, management believes presentation of financial measures excluding the impact of such items provides useful supplemental information in evaluating the operating results of the Company’s core businesses. These disclosures should not be viewed as a substitute for net income determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

This press release may contain certain “forward-looking statements” including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact. The Company cautions readers that the following important factors, among others, may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein: (i) the effect of changes in laws and regulations, including federal and state banking laws and regulations, and the associated costs of compliance with such laws and regulations either currently or in the future as applicable; (ii) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as by the Financial Accounting Standards Board, or of changes in the Company’s organization, compensation and benefit plans; (iii) the effect on the Company’s competitive position within its market area of the increasing consolidation within the banking and financial services industries, including the increased competition from larger regional and out-of-state banking organizations as well as non-bank providers of various financial services; (iv) the effect of changes in interest rates; (v) the effects of health emergencies, including the spread of infectious diseases or pandemics; (vi) the effect of changes in the business cycle and downturns in the local, regional or national economies; or (vii) any potential adverse events or developments resulting from the merger agreement, dated December 16, 2024, between Penns Woods Bancorp, Inc. and Northwest Bancshares, Inc., including, without limitation, any event, change, or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement or the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or to successfully integrate the business and operations of Jersey Shore State Bank and Luzerne Bank with those of Northwest Savings Bank after closing. For a list of other factors which could affect the Company’s results, see the Company’s filings with the Securities and Exchange Commission, including “Item 1A. Risk Factors,” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

Previous press releases and additional information can be obtained from the Company’s website at www.pwod.com.

Contact:	Richard A. Grafmyre, Chief Executive Officer
	110 Reynolds Street
	Williamsport, PA 17702
	570-322-1111	e-mail: pwod@pwod.com

PENNS WOODS BANCORP, INC. CONSOLIDATED BALANCE SHEET (UNAUDITED)

	March 31,
(In Thousands, Except Share and Per Share Data)		2025			2024		% Change
ASSETS:
Noninterest-bearing cash	$	26,604		$	23,488		13.27	%
Interest-bearing balances in other financial institutions		10,841			9,055		19.72	%
Total cash and cash equivalents		37,445			32,543		15.06	%

Investment debt securities, available for sale, at fair value		175,721			187,245		(6.15	)%
Investment equity securities, at fair value		1,128			1,112		1.44	%
Restricted investment in bank stock		20,613			23,420		(11.99	)%
Loans held for sale		2,583			3,360		(23.13	)%
Loans		1,897,376			1,855,347		2.27	%
Allowance for credit losses		(10,236	)		(11,542	)	(11.32	)%
Loans, net		1,887,140			1,843,805		2.35	%
Premises and equipment, net		27,441			28,970		(5.28	)%
Accrued interest receivable		10,871			11,344		(4.17	)%
Bank-owned life insurance		45,982			32,853		39.96	%
Investment in limited partnerships		6,466			7,515		(13.96	)%
Goodwill		16,450			16,450		—	%
Intangibles		82			184		(55.43	)%
Operating lease right of use asset		2,761			2,922		(5.51	)%
Deferred tax asset		2,067			4,546		(54.53	)%
Other assets		15,485			13,847		11.83	%
TOTAL ASSETS	$	2,252,235		$	2,210,116		1.91	%

LIABILITIES:
Interest-bearing deposits	$	1,258,188		$	1,147,111		9.68	%
Noninterest-bearing deposits		465,766			471,451		(1.21	)%
Total deposits		1,723,954			1,618,562		6.51	%

Short-term borrowings		82,910			111,208		(25.45	)%
Long-term borrowings		214,542			261,770		(18.04	)%
Accrued interest payable		3,908			4,174		(6.37	)%
Operating lease liability		2,841			2,987		(4.89	)%
Other liabilities		12,057			17,898		(32.63	)%
TOTAL LIABILITIES		2,040,212			2,016,599		1.17	%

SHAREHOLDERS’ EQUITY:
Preferred stock, no par value, 3,000,000 shares authorized; no shares issued		—			—		n/a
Common stock, par value $5.55, 22,500,000 shares authorized; 8,124,439 and 8,035,597 shares issued; 7,614,214 and 7,525,372 shares outstanding		45,134			44,641		1.10	%
Additional paid-in capital		62,931			62,215		1.15	%
Retained earnings		120,261			108,642		10.69	%
Accumulated other comprehensive loss:
Net unrealized loss on available for sale securities		(2,762	)		(6,425	)	57.01	%
Defined benefit plan		(726	)		(2,741	)	73.51	%
Treasury stock at cost, 510,225 shares		(12,815	)		(12,815	)	—	%
TOTAL SHAREHOLDERS’ EQUITY		212,023			193,517		9.56	%
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	2,252,235		$	2,210,116		1.91	%

PENNS WOODS BANCORP, INC. CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)

	Three Months Ended March 31,
(In Thousands, Except Share and Per Share Data)		2025			2024		% Change
INTEREST AND DIVIDEND INCOME:
Loans including fees	$	26,014		$	23,860		9.03	%
Investment securities:
Taxable		1,723			1,594		8.09	%
Tax-exempt		60			97		(38.14	)%
Dividend and other interest income		581			679		(14.43	)%
TOTAL INTEREST AND DIVIDEND INCOME		28,378			26,230		8.19	%

INTEREST EXPENSE:
Deposits		8,744			7,963		9.81	%
Short-term borrowings		1,056			2,005		(47.33	)%
Long-term borrowings		2,438			2,516		(3.10	)%
TOTAL INTEREST EXPENSE		12,238			12,484		(1.97	)%

NET INTEREST INCOME		16,140			13,746		17.42	%

(RECOVERY) PROVISION FOR CREDIT LOSSES		(2,969	)		138		(2,251.45	)%

NET INTEREST INCOME AFTER (RECOVERY) PROVISION OF CREDIT LOSSES		19,109			13,608		40.42	%

NON-INTEREST INCOME:
Service charges		483			515		(6.21	)%
Net debt securities gains (losses), available for sale		305			(23	)	1,426.09	%
Net equity securities gains (losses)		17			(10	)	270.00	%
Bank-owned life insurance		301			463		(34.99	)%
Gain on sale of loans		408			305		33.77	%
Insurance commissions		152			153		(0.65	)%
Brokerage commissions		167			186		(10.22	)%
Loan broker income		252			222		13.51	%
Debit card income		308			329		(6.38	)%
Other		175			322		(45.65	)%
TOTAL NON-INTEREST INCOME		2,568			2,462		4.31	%

NON-INTEREST EXPENSE:
Salaries and employee benefits		6,483			6,422		0.95	%
Occupancy		874			905		(3.43	)%
Furniture and equipment		997			939		6.18	%
Software amortization		419			190		120.53	%
Pennsylvania shares tax		413			320		29.06	%
Professional fees		505			552		(8.51	)%
Federal Deposit Insurance Corporation deposit insurance		397			359		10.58	%
Marketing		47			71		(33.80	)%
Intangible amortization		25			26		(3.85	)%
Merger expense		1,093			—		n/a
Other		1,341			1,839		(27.08	)%
TOTAL NON-INTEREST EXPENSE		12,594			11,623		8.35	%
INCOME BEFORE INCOME TAX PROVISION		9,083			4,447		104.25	%
INCOME TAX PROVISION		1,716			639		168.54	%
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS’	$	7,367		$	3,808		93.46	%
EARNINGS PER SHARE – BASIC	$	0.97		$	0.51		90.20	%
EARNINGS PER SHARE – DILUTED	$	0.95		$	0.51		86.27	%
WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC		7,589,592			7,512,520		1.03	%
WEIGHTED AVERAGE SHARES OUTSTANDING – DILUTED		7,728,688			7,512,520		2.88	%

PENNS WOODS BANCORP, INC. AVERAGE BALANCES AND INTEREST RATES (UNAUDITED)

	Three Months Ended
	March 31, 2025						March 31, 2024
(Dollars in Thousands)	Average Balance (1)		Interest		Average Rate		Average Balance (1)		Interest		Average Rate
ASSETS:
Tax-exempt loans (3)	$	68,615	$	556	3.28	%	$	69,349	$	463	2.69	%
All other loans		1,824,502		25,575	5.68	%		1,781,962		23,494	5.30	%
Total loans (2)		1,893,117		26,131	5.60	%		1,851,311		23,957	5.20	%

Taxable securities		191,040		2,188	4.64	%		200,275		2,144	4.35	%
Tax-exempt securities (3)		10,751		76	2.87	%		16,529		123	3.03	%
Total securities		201,791		2,264	4.55	%		216,804		2,267	4.25	%

Interest-bearing balances in other financial institutions		14,699		116	3.20	%		10,199		129	5.09	%

Total interest-earning assets		2,109,607		28,511	5.48	%		2,078,314		26,353	5.10	%

Other assets		138,990						130,958

TOTAL ASSETS	$	2,248,597					$	2,209,272

LIABILITIES AND SHAREHOLDERS’ EQUITY:
Savings	$	209,025		234	0.45	%	$	218,722		268	0.49	%
Super Now deposits		208,537		904	1.76	%		215,870		1,084	2.02	%
Money market deposits		317,306		2,468	3.15	%		292,707		2,359	3.24	%
Time deposits		507,085		5,138	4.11	%		407,169		4,252	4.20	%
Total interest-bearing deposits		1,241,953		8,744	2.86	%		1,134,468		7,963	2.82	%

Short-term borrowings		95,339		1,056	4.49	%		144,350		2,005	5.59	%
Long-term borrowings		230,682		2,438	4.29	%		259,697		2,516	3.90	%
Total borrowings		326,021		3,494	4.35	%		404,047		4,521	4.50	%

Total interest-bearing liabilities		1,567,974		12,238	3.17	%		1,538,515		12,484	3.26	%

Demand deposits		449,384						451,877
Other liabilities		31,524						29,260
Shareholders’ equity		199,715						189,620

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	2,248,597					$	2,209,272
Interest rate spread (3)					2.31	%					1.84	%
Net interest income/margin (3)			$	16,273	3.13	%			$	13,869	2.69	%

_1.	_{Information on this table has been calculated using average daily balance sheets to obtain average balances.}
_2.	_{Non-accrual loans have been included with loans for the purpose of analyzing net interest earnings.}
_3.	_{Income and rates on fully taxable equivalent basis include an adjustment for the difference between annual income from tax-exempt obligations and the taxable equivalent of such income at the standard tax rate of 21%}

	Three Months Ended March 31,
		2025		2024
Total interest income	$	28,378	$	26,230
Total interest expense		12,238		12,484
Net interest income (GAAP)		16,140		13,746
Tax equivalent adjustment		133		123
Net interest income (fully taxable equivalent) (non-GAAP)	$	16,273	$	13,869

(Dollars in Thousands, Except Per Share Data, Unaudited)	Quarter Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Operating Data
Net income	$	7,367		$	3,741		$	4,801		$	5,390		$	3,808
Net interest income		16,140			15,563			15,056			14,515			13,746
(Recovery) provision for credit losses		(2,969	)		420			740			(1,177	)		138
Net security gains (losses)		322			(44	)		36			(19	)		(33	)
Non-interest income, excluding net security gains (losses)		2,246			2,754			2,385			2,044			2,495
Non-interest expense		12,594			12,980			10,884			10,996			11,623

Performance Statistics
Net interest margin		3.13	%		2.98	%		2.88	%		2.83	%		2.69	%
Annualized cost of total deposits		2.07	%		2.22	%		2.27	%		2.14	%		2.01	%
Annualized non-interest income to average assets		0.46	%		0.48	%		0.43	%		0.37	%		0.45	%
Annualized non-interest expense to average assets		2.24	%		2.32	%		1.95	%		1.98	%		2.10	%
Annualized return on average assets		1.31	%		0.67	%		0.86	%		0.97	%		0.69	%
Annualized return on average equity		14.76	%		7.28	%		9.60	%		11.12	%		8.03	%
Annualized net loan (recoveries) charge-offs to average loans	(0.20		)%		0.05	%		0.07	%	(0.09		)%		0.08	%
Net (recoveries) charge-offs		(957	)		228			328			(396	)		380
Efficiency ratio		68.36	%		70.73	%		62.26	%		66.25	%		71.41	%

Per Share Data
Basic earnings per share	$	0.97		$	0.50		$	0.64		$	0.72		$	0.51
Diluted earnings per share		0.95			0.49			0.64			0.72			0.51
Dividend declared per share		0.32			0.32			0.32			0.32			0.32
Book value		27.85			27.16			26.96			26.13			25.72
Tangible book value (Non-GAAP)		25.67			24.97			24.77			23.93			23.50
Common stock price:
High		31.90			34.06			23.98			21.08			22.64
Low		27.61			23.74			19.29			17.17			18.44
Close		27.91			30.39			23.79			20.55			19.41
Weighted average common shares:
Basic		7,590			7,555			7,544			7,529			7,513
Fully Diluted		7,729			7,693			7,544			7,529			7,513
End-of-period common shares:
Issued		8,124			8,067			8,065			8,052			8,036
Treasury		(510	)		(510	)		(510	)		(510	)		(510	)

(Dollars in Thousands, Unaudited)	Quarter Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Financial Condition Data:
General
Total assets	$	2,252,235		$	2,232,338		$	2,259,250		$	2,234,617		$	2,210,116
Loans, net		1,887,140			1,865,230			1,863,586			1,855,054			1,843,805
Goodwill		16,450			16,450			16,450			16,450			16,450
Intangibles		82			107			133			158			184
Total deposits		1,723,954			1,706,081			1,700,321			1,648,093			1,618,562
Noninterest-bearing		465,766			456,936			452,922			461,092			471,451
Savings		211,136			208,340			211,560			218,354			220,932
NOW		203,191			212,687			218,279			209,906			208,073
Money Market		323,869			308,977			321,614			320,101			299,916
Time Deposits		342,983			340,844			328,294			310,187			292,372
Brokered Deposits		177,009			178,297			167,652			128,453			125,818
Total interest-bearing deposits		1,258,188			1,249,145			1,247,399			1,187,001			1,147,111

Core deposits*		1,203,962			1,186,940			1,204,375			1,209,453			1,200,372
Shareholders’ equity		212,023			205,231			203,694			197,087			193,517

Asset Quality
Non-performing loans	$	9,987		$	8,904		$	7,940		$	6,784		$	7,958
Non-performing loans to total assets		0.44	%		0.40	%		0.35	%		0.30	%		0.36	%
Allowance for credit losses on loans		10,236			11,848			11,588			11,234			11,542
Allowance for credit losses on loans to total loans		0.54	%		0.63	%		0.62	%		0.60	%		0.62	%
Allowance for credit losses on loans to non-performing loans		102.49	%		133.06	%		145.94	%		165.60	%		145.04	%
Non-performing loans to total loans		0.53	%		0.47	%		0.42	%		0.36	%		0.43	%

Capitalization
Shareholders’ equity to total assets		9.41	%		9.19	%		9.02	%		8.82	%		8.76	%

* Core deposits are defined as total deposits less time deposits and brokered deposits.

Reconciliation of GAAP and Non-GAAP Financial Measures (UNAUDITED)

	Three Months Ended March 31,
(Dollars in Thousands, Except Per Share Data, Unaudited)		2025			2024
GAAP net income	$	7,367		$	3,808
Net securities (gains) losses, net of tax		(254	)		26
Merger expenses, net of tax		948			—
Non-GAAP core earnings	$	8,061		$	3,834

	Three Months Ended March 31,
		2025			2024
Return on average assets (ROA)		1.31	%		0.69	%
Net securities (gains) losses, net of tax	(0.04		)%		—	%
Merger expenses, net of tax		0.16	%		—	%
Non-GAAP core ROA		1.43	%		0.69	%

	Three Months Ended March 31,
		2025			2024
Return on average equity (ROE)		14.76	%		8.03	%
Net securities (gains) losses, net of tax	(0.51		)%		0.06	%
Merger expenses, net of tax		1.90	%		—	%
Non-GAAP core ROE		16.15	%		8.09	%

	Three Months Ended March 31,
		2025			2024
Basic earnings per share (EPS)	$	0.97		$	0.51
Net securities (gains) losses, net of tax		(0.03	)		—
Merger expenses, net of tax		0.12			—
Non-GAAP basic core EPS	$	1.06		$	0.51

	Three Months Ended March 31,
		2025			2024
Diluted EPS	$	0.95		$	0.51
Net securities (gains) losses, net of tax		(0.03	)		—
Merger expenses, net of tax		0.12			—
Non-GAAP diluted core EPS	$	1.04		$	0.51

(Dollars in Thousands, Except Share and Per Share Data, Unaudited)	Quarter Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Total shareholders’ equity	$	212,023		$	205,231		$	203,694		$	197,087		$	193,517
Goodwill		(16,450	)		(16,450	)		(16,450	)		(16,450	)		(16,450	)
Intangibles		(82	)		(107	)		(133	)		(158	)		(184	)
Tangible shareholders’ equity	$	195,491		$	188,674		$	187,111		$	180,479		$	176,883

Shares outstanding		7,614,214			7,556,743			7,554,488			7,541,474			7,525,372

Book value per share	$	27.85		$	27.16		$	26.96		$	26.13		$	25.72
Tangible book value per share (Non-GAAP)	$	25.67		$	24.97		$	24.77		$	23.93		$	23.50

The MIL Network –

April 26, 2025

MIL-OSI: Federal Home Loan Bank of Des Moines Announces First Quarter 2025 Financial Results, Declares Dividend

Source: GlobeNewswire (MIL-OSI)

DES MOINES, Iowa, April 25, 2025 (GLOBE NEWSWIRE) —

First Quarter 2025 Highlights

Net income of $205 million
Affordable Housing Program (AHP) assessments of $23 million
Voluntary community and housing contributions of $12 million
Advances totaled $93.8 billion
Mortgage loans held for portfolio, net totaled $12.3 billion
Letters of credit totaled $19.2 billion
Retained earnings totaled $3.6 billion

Dividend

The Board of Directors approved a first quarter 2025 dividend to be paid at an annualized rate of 9.75% on average activity-based stock and 6.00% on average membership stock, unchanged from the prior quarter. The Federal Home Loan Bank of Des Moines (the Bank) expects to make dividend payments totaling $135 million on May 13, 2025.

Liquidity Mission

The Bank provides liquidity to its members to support the housing, business, and economic development needs of the communities they serve. Members pledge collateral to access our core liquidity products of advances, letters of credit, and purchased mortgage loans under the Mortgage Partnership Finance^® Program. During the first quarter of 2025, advance balances averaged $100.2 billion, and purchased mortgage loan balances averaged $12.0 billion. The liquidity provided through these products allows our members to:

meet mortgage and other loan demand in their communities when deposits alone are insufficient;
originate mortgage loans without holding them on their balance sheet; and
reduce interest rate risk by structuring advances to match their assets.

In addition, the Bank provides a reliable source of contingent liquidity for its members. During the first quarter of 2025, the Bank held an average of $27.9 billion of short-term assets as a source of liquidity for this purpose.

Affordable Housing and Community Impact

The Bank’s housing and community development programs are central to its mission by providing reliable liquidity and funding to help its members build strong communities and support their housing affordability needs. The Bank contributes 10% of its net income each year to its AHP, a grant program that supports the creation, preservation, or purchase of affordable housing. This program includes a competitive AHP and two down payment assistance products called Home$tart and the Native American Homeownership Initiative. During the first quarter of 2025, the Bank accrued statutory AHP assessments of $23 million and voluntarily accrued $1 million, to be awarded in 2026 through this program.

In addition to its AHP, the Bank offers its members voluntary programs to further its housing mission. During the first quarter of 2025, the Bank recorded a total of $12 million in voluntary community and housing contributions, including the voluntary AHP contribution. Through its voluntary programs, the Bank:

provided $18 million in 0% rate advances to members that originated or purchased mortgage loans from a Habitat for Humanity^® affiliate and recorded $4 million in subsidy expense;
funded $14 million of loans with an interest rate lower than the current market rate under the Mortgage Rate Relief program, which provided $1 million in grants to those seeking affordable homeownership; and
recorded a $6 million contribution to its Member Impact Fund to match member donations to local housing and community development organizations during the first quarter of 2025.

Financial Results Discussion

Net Income – For the three months ended March 31, 2025, the Bank recorded net income of $205 million compared to $274 million for the same period in 2024.

Net Interest Income – For the three months ended March 31, 2025, the Bank recorded net interest income of $248 million, a decrease of $101 million when compared to the same period in 2024. The decrease was due to the yield on interest-earning assets declining at a quicker pace than the cost of interest-bearing liabilities driven by a decline in longer-term advances, decreases in market value adjustments on the Bank’s fair value hedge relationships, and changes in interest rates, which also reduced earnings on invested capital.

Net Interest Spread and Margin – Net interest spread and margin were 0.32 percent and 0.59 percent for the three months ended March 31, 2025, decreases of 0.11 percent and 0.15 percent when compared to the same period in 2024. The declines in net interest spread and margin were driven by the decrease in net interest income discussed above. The Bank’s cost of funds does not include net interest settlements on economic hedges, which are recorded in other income (loss). As a result, net interest spread and margin do not reflect the full impact of the Bank’s funding and hedging strategies and may experience volatility as interest rates change.

Other Income (Loss) – For the three months ended March 31, 2025, the Bank recorded other income of $41 million, an increase of $37 million when compared to the same period in 2024, primarily due to the net changes in fair value on the Bank’s trading securities, fair value option instruments, and economic derivatives.

Other Expense – For the three months ended March 31, 2025, the Bank recorded other expense of $61 million, an increase of $11 million when compared to the same period in 2024, primarily driven by an increase in voluntary community and housing contributions of $12 million.

Assets – The Bank’s total assets increased to $167.5 billion at March 31, 2025, from $165.3 billion at December 31, 2024, driven primarily by an increase in investments, offset in part by a decline in advances. Investments increased primarily due to an increase in short-term investments, mainly federal funds sold and securities purchased under agreements to resell, as well as the purchase of agency mortgage-backed securities. Advances decreased $6.2 billion due mainly to a decline in borrowings by depository institution members, offset in part by an increase in borrowings by insurance companies.

Capital – Total capital decreased to $9.3 billion at March 31, 2025, from $9.5 billion at December 31, 2024, primarily due to a decrease in activity-based capital stock resulting from a decline in advance balances.

Federal Home Loan Bank of Des Moines Financial Highlights (preliminary and unaudited) *Dollars in millions*
Selected Balance Sheet Items	March 31, 2025			December 31, 2024
Advances	$	93,790		$	99,951
Investments		60,775			52,032
Mortgage loans held for portfolio, net		12,263			11,896
Total assets		167,471			165,253
Consolidated obligations		155,838			153,251
Capital stock – Class B putable		5,730			5,989
Retained earnings		3,558			3,491
Total capital		9,329			9,451
Total regulatory capital¹		9,297			9,489
Regulatory capital ratio		5.55	%		5.74	%
1 Total regulatory capital includes capital stock, mandatorily redeemable capital stock, and retained earnings. The regulatory capital ratio is calculated as regulatory capital as a percentage of period end assets.

	For the Three Months Ended
	March 31,
Operating Results		2025			2024
Net interest income	$	248		$	349
Provision (reversal) for credit losses on mortgage loans		—			(1	)
Other income (loss)		41			4
Other expense		61			50
Affordable Housing Program assessments		23			30
Net income	$	205		$	274
Performance Ratios
Net interest spread		0.32	%		0.43	%
Net interest margin		0.59			0.74
Return on average equity (annualized)		8.56			11.36
Return on average assets (annualized)		0.48			0.57

The financial results reported in this earnings release for the first quarter of 2025 are preliminary until the Bank announces unaudited financial results in its First Quarter 2025 Form 10-Q filed with the Securities and Exchange Commission, expected to be available next month at www.fhlbdm.com and www.sec.gov.

The Bank is a member-owned cooperative whose mission is to be a reliable provider of funding, liquidity, and services for its members so that they can meet the housing, business, and economic development needs of the communities they serve. The Bank is wholly owned by nearly 1,250 members, including commercial banks, savings institutions, credit unions, insurance companies, and community development financial institutions. The Bank serves Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the U.S. Pacific territories of American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. The Bank is one of 11 regional banks that make up the Federal Home Loan Bank System.

Statements contained in this announcement, including statements describing the objectives, projections, estimates, or future predictions in the Bank’s operations, may be forward-looking statements. These statements may be identified by the use of forward-looking terminology, such as believes, projects, expects, anticipates, estimates, intends, strategy, plan, could, should, may, and will or their negatives or other variations on these terms. By their nature, forward-looking statements involve risk or uncertainty, and actual results could differ materially from those expressed or implied or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. As a result, you are cautioned not to place undue reliance on such statements. A detailed discussion of the more important risks and uncertainties that could cause actual results and events to differ from such forward-looking statements can be found in the “Risk Factors” section of the Bank’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. These forward-looking statements apply only as of the date they are made, and the Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact: Amber Pringnitz
515.412.2306
apringnitz@fhlbdm.com

The MIL Network –

April 26, 2025

MIL-OSI: SiriusPoint Welcomes AM Best Outlook Revision to ‘Positive’ from ‘Stable’

Source: GlobeNewswire (MIL-OSI)

HAMILTON, Bermuda, April 25, 2025 (GLOBE NEWSWIRE) — AM Best has revised the outlook of the rated operating subsidiaries of SiriusPoint Ltd (“SiriusPoint” or “the Company”) (Bermuda) [NYSE: SPNT] to Positive from Stable, citing the Company’s “very strong balance sheet”.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of SiriusPoint’s rated operating subsidiaries. Additionally, the rating agency has affirmed the Long-Term ICR of “bbb-” (Good) of SiriusPoint.

AM Best said the revision of the outlook to Positive from Stable reflects SiriusPoint’s improved balance sheet strength following actions taken by management including the derisking of the investment portfolio, reduction in catastrophe exposure, and the recent buy-back of shares and warrants previously held by CM Bermuda Ltd.

“This outlook revision is a reflection of our journey towards stability, underwriting profitability, and becoming a best-in-class insurer and reinsurer,” said Scott Egan, Chief Executive Officer of SiriusPoint. “This is further recognition of SiriusPoint’s achievements and the work we have done to reshape our future. I am proud of the team at SiriusPoint who have worked with dedication and commitment to improve our company profile, balance sheet strength, and underwriting performance.”

In a press release issued today, AM Best said: “The ratings reflect SiriusPoint’s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.”

The rating agency added: “AM Best expects that the group will maintain its risk-adjusted capitalization comfortably at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by prudent capital management, effective underwriting exposure management and positive operating results.”

The financial strength rating of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed with the outlooks revised to positive from stable for the following subsidiaries of SiriusPoint:

SiriusPoint America Insurance Company
SiriusPoint Bermuda Insurance Company Ltd.
SiriusPoint International Insurance Corporation (publ)
SiriusPoint Specialty Insurance Corporation

AM Best’s revised outlook for SiriusPoint comes just one month after Fitch Ratings announced it had affirmed the ratings of SiriusPoint, including its Long-Term Issuer Default Rating at ‘BBB’, its senior debt rating at ‘BBB-‘ and its Insurer Financial Strength (IFS) rating at ‘A-‘ (Strong) of SiriusPoint’s subsidiaries. It has also revised the Company’s Outlook to Positive from Stable.

Click here for full details in AM Best’s press release.

Contacts

Investor Relations
Liam Blackledge, SiriusPoint
Liam.Blackledge@siriuspt.com
+44 203 772 3082

Media
Sarah Hills, Rein4ce
sarah.hills@rein4ce.co.uk
+44 7718 882011

About SiriusPoint

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators within our Insurance & Services segment. With over $2.6 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s.

FORWARD-LOOKING STATEMENTS

We make statements in this press release that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving return on investment and difficulty in liquidating the investment; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties; and other risk factors described in SiriusPoint’s Annual Report on Form 10-K for the period ended December 31, 2024.

Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events, or other circumstances after the date of this press release.

The MIL Network –

April 26, 2025

MIL-OSI: World Trading Tournament (WTT) Partners with AIMS Group to Expand Global Trading Engagement

Source: GlobeNewswire (MIL-OSI)

HOCKESSIN, Del., April 25, 2025 (GLOBE NEWSWIRE) — The World Trading Tournament (WTT), a leading platform for global trading competitions, today announced a strategic partnership with AIMS Group, a renowned financial brokerage known for its cutting-edge trading execution, clearing services, and technical support across 17 countries.

WTT and AIMS Group: A Powerful Partnership for Global Trading

This collaboration aims to elevate the trading experience by enhancing accessibility to trading tools and fostering skill-based competitions on a global scale.

Through this partnership, WTT continues to build on its mission of empowering traders with opportunities to compete in fair, transparent, and skill-focused trading environments.

“AIMS Group’s commitment to transparency, reliable trading conditions, and exceptional service perfectly aligns with WTT’s vision of creating a global platform that helps traders enhance their skills in a competitive, educational setting,” said Mr. Arthur, CEO of WTT.

The strategic collaboration will leverage AIMS Group’s advanced infrastructure to provide seamless trade execution and broader market access. Known for its sponsorships with leading sports organizations such as Tottenham Hotspur FC and the ASEAN Football Federation U23, AIMS Group’s role in this partnership extends beyond financial services, reinforcing its dedication to supporting the global trading community.

“At AIMS Group, we are focused on providing traders with the tools and resources necessary for success in an increasingly competitive market,” said Mr. Aaron Chang, CEO of AIMS Group. “Partnering with WTT gives us the opportunity to nurture the next generation of traders by supporting their education and creating new competition formats that push the boundaries of trading excellence.”

The partnership is set to bring new innovations to WTT participants, including enhanced competition features, educational content, and access to AIMS Group’s global resources. By working together, WTT and AIMS Group aim to provide a more dynamic and inclusive platform for traders worldwide.

WTT & AIMS Group: A Winning Partnership

About AIMS Group

AIMS Group is a global financial brokerage providing institutional-grade trading services to retail and institutional clients across 17 countries. With a strong emphasis on transparency, technology, and client service, AIMS Group plays an active role in shaping the future of global trading practices.

About World Trading Tournament (WTT)

The World Trading Tournament (WTT) is an international platform that hosts annual, gamified trading events. It brings together traders, financial institutions, retail investors, and fintech communities from around the globe, creating a space for networking, innovation, and learning. WTT’s mission is to foster a competitive yet educational environment where traders can hone their skills and expand their knowledge.

Media Contact:
Clement Metz
World Trading Tournament
admin@worldtradingtournament.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/eacb29c2-bc3f-4ca8-9013-d182923268b2

https://www.globenewswire.com/NewsRoom/AttachmentNg/42f36fe3-cdf1-4cb8-993d-518f6179eefb

The MIL Network –

April 26, 2025

MIL-OSI: BTCC Exchange Achieves Remarkable Growth in Q1 2025: Record Trading Volume of $815 Billion, Strengthened User Protection, and More User-Centric Initiatives

Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, April 25, 2025 (GLOBE NEWSWIRE) — BTCC, the world’s longest-serving crypto exchange, announced outstanding growth for the first quarter of 2025, with total trading volume reaching $815 billion. The exchange revealed a remarkable surge in trading activity, service expansion, and strengthened commitments to user security.

71% Surge in Futures Trading Propels Q1 Performance

In the first quarter of 2025, BTCC achieved remarkable growth with total futures trading volume reaching $720 billion, representing a 71% quarter-over-quarter increase. Spot trading volume grew to $95 billion, up 54% from the previous quarter. The exchange has listed a variety of popular coins, including PI, TRUMP, and AI16Z, to meet the needs of diverse traders seeking innovative and trending cryptocurrencies in the market.

The user base also showed impressive growth, surpassing the 7 million milestone and reaching 7.04 million registered users by the end of Q1 2025. This achievement reflects the growing trust in BTCC as a reliable platform and its expanding global footprint.

$15M Risk Reserve Fund Safeguards 280,000 Traders

BTCC has reinforced its commitment to user asset security by adding $4.3 million to its Risk Reserve Fund in Q1, which brings the cumulative total to over $15 million. This protective measure has already assisted approximately 280,000 users in the first quarter of this year, offering comprehensive coverage for negative balance accounts during extreme market volatility and compensating traders impacted by system failures.

“In today’s volatile global market, characterized by geopolitical conflicts and macroeconomic uncertainties, crypto assets face unprecedented opportunities and challenges,” said Alex, Head of Operations at BTCC.

“For our users, this is a time of both challenges and opportunities. We are proud of our Q1 data, which reflects our commitment to protecting users’ funds and building trust. Our mission is to serve as a stable anchor during market fluctuations, actively reducing risks while fostering a community built on trust and reliability.”

Prioritizing User-Centric Initiatives

Beyond strengthening user protection, BTCC implemented campaigns and service enhancements during Q1 2025. The exchange distributed 5 million USDT in rewards through targeted campaigns designed for diverse user segments, including new users, longtime users, beginners, and advanced traders.

The VIP program was also revamped in the first quarter to cater to high-volume traders. Upgrades included more competitive fee structures, the introduction of VIP Status Protection Periods, substantial upgrade rewards, exclusive luxury experiences, and more.

The exchange further demonstrated its commitment to corporate social responsibility through active participation in various charitable initiatives, such as collaborations with Red Eagle Foundation, reinforcing its dedication to giving back to communities worldwide.

TOKEN2049 Sponsorship and Proof of Reserves on Horizon

Looking ahead, BTCC will participate as a gold sponsor at TOKEN2049, one of the industry’s premier events that will take place on April 30 and May 1 in Dubai. Additionally, the exchange plans to announce its Proof of Reserves (PoR) soon, which will further enhance transparency and security for its users.

To strengthen its market position, BTCC is exploring strategic sponsorship opportunities aimed at increasing brand visibility in key regions. As BTCC enhances its services while prioritizing user protection, the platform is well-equipped to thrive in the next quarter, backed by a strong user base and record trading volumes.

About BTCC Exchange

Founded in 2011, BTCC is a leading global cryptocurrency exchange with the vision to make crypto trading reliable and accessible to everyone. With a strong presence in over 100 countries and regions and a user base of over 7.04 million, BTCC continues to deliver innovation, security, and an unmatched user experience in the cryptocurrency world.

Official website: https://www.btcc.com/en-US

X: https://x.com/BTCCexchange

Contact: press@btcc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d8297f8-6ef6-49ac-a893-c262a0573c71

The MIL Network –

April 26, 2025

MIL-OSI: BexBack Revolutionizes Crypto Trading with 100x Leverage, No KYC, and Exclusive Bonuses

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, April 25, 2025 (GLOBE NEWSWIRE) — BexBack, a rapidly expanding cryptocurrency derivatives platform, is setting new standards in the crypto trading industry. Since its launch in May 2024, BexBack has attracted over 500,000 registered users worldwide by offering features that appeal to both novice traders and seasoned investors. With its innovative offerings, including 100x leverage, no KYC requirements, and a variety of generous bonuses, BexBack is reshaping the landscape for crypto futures traders.

100x Leverage: A Game-Changer in Crypto Trading

At the core of BexBack’s appeal is its powerful 100x leverage, which allows traders to open larger positions with less capital. Whether the market is volatile or stable, this leverage amplifies potential profits, allowing traders to make the most out of even small price movements. This level of leverage can open the door for higher gains—turning an average trade into a potentially lucrative one. For example, with 100x leverage, a $1,000 trade can control $100,000 in value, giving traders the chance to earn massive profits in a fraction of the time.

No KYC: Trade Anonymously and Efficiently

Unlike many other platforms, BexBack operates with no KYC (Know Your Customer) requirements, providing a seamless, anonymous trading experience. This unique feature enables users to trade crypto without going through lengthy identity verification processes, making it an ideal choice for those who prefer privacy and simplicity in their trading activities.

Generous Bonuses for All Users

BexBack’s bonus structure is designed to maximize trader opportunities:

100% Deposit Bonus – When users deposit funds, they receive a 100% deposit bonus, which can be used to open larger positions and increase potential profits. This bonus cannot be withdrawn but provides additional margin for traders to mitigate risks and enhance their trading strategies.
$50 Welcome Bonus – New users who complete their first trade (open and close a position) are eligible for a $50 welcome bonus. This bonus can be used to offset losses or to trade further, providing users with the opportunity to get started without worrying about the initial cost of trading.
Affiliate Program – BexBack also offers an affiliate program where users can earn up to 50% of their referrals’ trading fees, providing a passive income stream for active traders and affiliates.

Key Features and Advantages of BexBack:

No Slippage: BexBack guarantees no slippage, meaning that trades are executed at the price you see, regardless of market fluctuations. This is a critical feature for traders who require precision and reliability when executing trades.
Global Accessibility: BexBack is available in multiple countries and accepts users from regions including the United States, Canada, and Europe.
Comprehensive Trading Tools: The platform offers a variety of tools, including a demo account with 10 BTC and $1,000,000 in virtual funds to help traders familiarize themselves with the platform risk-free.
24/7 Customer Support: BexBack offers round-the-clock customer service to assist users with any questions or issues they may encounter.

Why Choose BexBack?

BexBack is designed for traders who are looking to take advantage of high leverage, low fees, and maximum control over their trades. By offering a simple yet powerful platform, along with exceptional customer support and a wide range of financial incentives, BexBack is positioned as a leader in the competitive crypto trading market.

With its powerful features, commitment to user satisfaction, and constant innovation, BexBack is poised to be the go-to platform for crypto futures trading in 2025 and beyond.

About BexBack

BexBack is a cryptocurrency derivatives exchange platform that offers high-leverage crypto futures trading with no KYC requirements. Headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina, BexBack provides a seamless, anonymous trading experience for its global user base. Trusted by over 500,000 traders worldwide, the platform continues to grow by offering its users attractive bonuses, cutting-edge technology, and low-cost trading solutions.

For more information about BexBack and to start trading today, visit www.bexback.com.

Website: www.bexback.com

Contact: business@bexback.com

Contact:
Amanda
business@bexback.com

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/777151c3-1d82-4a51-908c-73307ede7db7

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f4a280a-211f-4fd4-98c8-151a50d2ac28

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12713dbb-635d-470b-b7f2-5f9abc76a97c

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01351182-873c-4e92-9665-3f8d6b048cd5

The MIL Network –

April 26, 2025

MIL-OSI: Kevin Vilkin Joins Business Executives for National Security (BENS)

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, April 25, 2025 (GLOBE NEWSWIRE) — Kevin Vilkin, co-founder of Emergent Strategic Partners, has been accepted as a member of Business Executives for National Security (BENS), a national nonprofit network of business leaders committed to supporting U.S. security initiatives. Through BENS, Vilkin will collaborate with fellow executives and government leaders to provide innovative private-sector solutions that enhance national security and resilience.

BENS leverages the expertise of top business minds to address complex security challenges, fostering strategic partnerships between the private sector and government agencies. Vilkin’s experience in forging impactful collaborations aligns with BENS’ mission, positioning him to contribute valuable insights on sustainable innovation, business growth, and economic security.

“BENS is excited to have Kevin as a member,” said General Timothy M. Ray, Retired United States Air Force Four-Star General, and President and Chief Executive Officer of BENS. “Right now—as our Nation must adapt and react to an increasingly complex threat environment—our defense and national security partners need to know how to adopt and scale innovation; not just buy it. So, Kevin’s experience and expertise is exactly what we need to make sure BENS provides the best support, at exactly the right time, to those keeping our Nation safe.”

“It is an honor to join BENS and contribute to its mission of leveraging business expertise to strengthen national security,” said Vilkin. “I look forward to working alongside leaders from both the public and private sectors to drive meaningful impact and innovation.”

About Kevin Vilkin

Before launching Emergent, Vilkin founded and successfully exited his first business—a music events company—at the age of 21, helping shape the careers of global artists such as Mumford & Sons and The Zac Brown Band. He founded the Vanguard Program for Summit Series, connecting the world’s most influential leaders, including Richard Branson, Ray Dalio, and Jeff Bezos.

Vilkin currently serves as a Senior Advisor to Redaptive, ID.me, and GoodLeap. He sits on the Board of Directors at Conservation International, is a member of Business Executives for National Security (BENS), and has been recognized as a Milken Young Leaders Circle and Forbes 30 Under 30 honoree. Additionally, he previously served as a Senior Advisor to TPG Growth.

About Emergent Strategic Partners

Emergent develops strategic partnerships that scale sustainable innovations for large enterprises. By connecting leading companies with emerging businesses, Emergent drives cost efficiencies and revenue growth while providing family offices with access to high-potential investment opportunities. Emergent partners’ impact includes $2.2B in revenue generated, $2.8B in enterprise value created, and $1.3B in capital raised.

Media Contact:
Paul Orszag
Emergent Strategic Partners
porszag@esp.co
(661) 803-6617

The MIL Network –

April 26, 2025

MIL-OSI: Sagtec Global to Announce Fiscal Year 2024 Financial Results on April 30, 2025

Source: GlobeNewswire (MIL-OSI)

KUALA LUMPUR, Malaysia, April 25, 2025 (GLOBE NEWSWIRE) — Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec” or the “Company”), today announced that it will release its financial results for fiscal year 2024, ended December 31, 2024, before markets open on April 30, 2025. Sagtec’s management team will hold an earnings call at 08:00 a.m. Eastern Time on April 30, 2025, to discuss the Company’s financial and business outlook.

What: Sagtec Global Limited Announces Fiscal Year 2024 Financial Results and Q&A Webcast When: Wednesday, April 30, 2025
Time: 8:00 a.m. Eastern Time / 8:00 p.m. Malaysia Time
Webcast: Registration link: https://edge.media-server.com/mmc/p/yemp8vxy

Approximately 24 hours after the Q&A session, an archived version will be available on the Company’s website for approximately twelve months thereafter.

“We are excited and look forward to sharing the progress and growth our company has experienced during the fiscal year 2024 with our investors,” said Kevin Ng, Chairman, Executive Director and Chief Executive Officer of Sagtec.

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/.

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 –

April 26, 2025

MIL-OSI: Maris-Tech to Unveil Diamond Ultra at DEFEA 2025: Advanced 360° 3D Situational Awareness Platform for AFVs

Source: GlobeNewswire (MIL-OSI)

Live Demos of Diamond Ultra and Tactical Edge AI Solutions at Hall 2, Stand C12

Rehovot, Israel, April 25, 2025 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”)- based edge computing technology, today announced that it will be participating in the upcoming DEFEA 2025 exhibition, taking place on May 6–8, 2025, at the Metropolitan Expo in Athens, Greece. Maris-Tech will present its latest AI-based edge computing video intelligence solutions at Hall 2, Stand C12, including live demonstrations of its new situational awareness platform, Diamond Ultra.

Diamond Ultra provides 360° 3D situational awareness and advanced airborne threat protection, integrating up to 11 HD and SD camera inputs. Powered by dual AI acceleration, Diamond Ultra enables real-time monitoring across all cameras simultaneously, delivering instant alerts on potential threats. Designed for mission-critical environments, Diamond Ultra enhances threat detection and response for urban and open terrain combat, supporting armored fighting vehicles (“AFVs”), observation posts, and various defense and surveillance applications.

Visitors will see this high-performance platform in action and explore additional solutions like Opal, Coral, and Jupiter Drones. Built to perform in high-risk environments, Maris-Tech’s solutions combine ultra-low latency streaming, AI-powered threat classification, and ruggedized form factors optimized for defense and homeland security (“HLS”) applications.

“We invite defense professionals to experience our 360° 3D situational awareness platform – Diamond Ultra – first hand, as well as explore our full suite of solutions at our booth,” said Israel Bar, Chief Executive Officer of Maris-Tech. “Our products are designed to deliver mission-critical insights where every second counts, ensuring defense teams are equipped with precise, actionable intelligence.”

Attendees can book a face-to-face meeting with the Maris-Tech’s team in advance by emailing sales@maris-tech.com.

About Maris-Tech Ltd.

Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, HLS, and communication industries. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

For more information, visit https://www.maris-tech.com/

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, the Company is using forward-looking statements when it is discussing the Company’s presentation and demonstration of its new AI-based platform, Diamond Ultra, and additional solutions like Opal, Coral, and Jupiter Drones at the DEFEA 2025 and future benefits of the Company’s products including mission-critical insights ensuring defense teams are equipped with precise, actionable intelligence. The Company’s 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. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: its ability to successfully market its products and services, including in the United States; the acceptance of its products and services by customers; its continued ability to pay operating costs and ability to meet demand for its products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; its ability to successfully develop new products and services; its success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; its ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations:

Nir Bussy, CFO
Tel: +972-72-2424022
Nir@maris-tech.com

The MIL Network –

April 26, 2025

MIL-OSI: XRP News: Investors Rush Into XenDex Presale As Momentum Builds Across the Ripple Ecosystem

Source: GlobeNewswire (MIL-OSI)

SYDNEY, April 25, 2025 (GLOBE NEWSWIRE) — The XRP Ledger is heating up, and XenDex is at the center of the storm. As one of the most advanced decentralized finance platforms to launch on XRPL, XenDex is capturing major attention from both retail investors and whales, and its $XDX presale is moving fast.

Within days of going live, XenDex has already surpassed key early milestones, filling a significant portion of its soft cap and igniting serious interest across the XRP community. As excitement surrounding Ripple’s expanding DeFi capabilities grows, many now view XenDex as the project leading XRP’s transition into full-featured decentralized finance.

Join $XDX Presale Round

Why the XenDex Presale Is Gaining Traction

XenDex is the first cross-chain DEX on the XRP Ledger with AI-powered copy trading, non-custodial lending & borrowing, staking, and DAO governance, all wrapped in a sleek, beginner-friendly user experience.

Here’s why investors are flocking to XenDex:

Cross-Chain Trading – Seamless asset swaps across chains
AI Copy Trading – Follow and mimic elite trader strategies in real-time
Lending & Borrowing – Borrow and lend your XRP native tokens or XDX tokens to earn rewards
Governance – $XDX holders vote on listings, upgrades, and protocol changes
Staking & Farming – Earn passive income while providing liquidity to our pool.

Presale Details

With early traction accelerating and limited token supply, the window to participate is closing quickly:

Token: $XDX
Exchange Rate: 1 XRP = 10 XDX
Minimum Buy: 150 XRP (1,500 XDX)
Soft Cap: 30,000 XRP
Presale Link: https://xendex.net/presale

Tokens will be automatically airdropped after the presale ends.

XenDex Is More Than Just a DEX — It’s a DeFi Gateway for XRP

While others are waiting on exchange listings or hoping for market momentum, XenDex is already building and delivering. The platform isn’t just another trading interface, it’s an infrastructure layer for next-gen projects launching on XRPL.

Buy $XDX Token On Presale

$XDX token holders get early access to premium opportunities, powered by a smart, secure, AI-integrated exchange.

Momentum is growing. Listings are coming. And the presale won’t stay open forever.

Whether you’re an XRP holder, a DeFi enthusiast, or a smart investor looking for the next breakout project — this is your moment.

Follow Us Below:

Website: https://xendex.net
Presale: https://xendex.net/presale
Telegram: https://t.me/xendexcommunity
Twitter/X: https://x.com/xendex_xrp
Docs: https://xdxdocs.gitbook.io

Contact:
Frank Richards
Frank@xendex.net

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/42ea91e1-bade-4267-a658-565872e57372

The MIL Network –

April 26, 2025

MIL-OSI: BloFin Launches Mastercard Crypto Card Enabling Secure and Effortless Payments

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, April 25, 2025 (GLOBE NEWSWIRE) — BloFin, a global leading cryptocurrency exchange, is proud to announce the official launch of the BloFin Card. The BloFin Card, now available as a virtual offering, enables select users to integrate digital assets into global online payment scenarios. It is accessible via both web and mobile platforms within the BloFin ecosystem.

BloFin Launches the BloFin Card — Bringing Crypto into Everyday Payments

The BloFin Card offers users a streamlined way to incorporate digital assets into their everyday spending. Built on secure infrastructure with advanced protection protocols, the BloFin Card ensures user confidence with every transaction. Integrated across both web and mobile interfaces, it allows users to manage their card and monitor usage with ease from any device within the BloFin ecosystem. Though not yet publicly introduced, the card has been made available by invitation to a limited group of VIP users. A phased rollout is underway, with broader access expected to follow.

The BloFin Card marks an essential step in expanding the real-world usability of digital assets. In addition to the current virtual card, a physical card version will be introduced soon, providing users with greater flexibility in payment scenarios.

Further updates will be available on www.blofin.com.

Keep Building: Rapid Growth and Innovation of BloFin 2025

As of 2025, BloFin continues to lead in product evolution and user-focused infrastructure. From launching Sub-Accounts to becoming one of the first four global exchanges to introduce the Unified Trading Account (UTA), BloFin is setting new standards for flexibility, performance, and accessibility in the digital asset space.
In celebration of its latest milestones and global expansion, BloFin — Title Sponsor of TOKEN204 Dubai — is hosting the Whales Rave Side Event, bringing together top-tier partners, traders, builders, and creators from around the world.

Follow us X（Twitter）｜Instagram ｜Telegram｜YouTube

About BloFin

BloFin is a top-tier cryptocurrency exchange that specializes in futures trading. The platform offers 480+ USDT-M perpetual pairs, spot trading, copy trading, API access, unified account management, and advanced sub-account solutions. Committed to security and compliance, BloFin integrates Fireblocks and Chainalysis to ensure robust asset protection. By partnering with top affiliates, BloFin delivers scalable trading solutions, efficient fund management, and enhanced flexibility for professional traders. As the constant sponsor of TOKEN2049, BloFin continues to expand its global presence, reinforcing its position as the place “WHERE WHALES ARE MADE.” For more information, visit BloFin’s official website at https://www.blofin.com.

Contact:
Annio W
annio@blofin.io

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

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

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/80fe29b8-af67-4e95-a97d-c0f00119c7aa

https://www.globenewswire.com/NewsRoom/AttachmentNg/c341298b-64e2-4e80-8d3f-d381e9f0ad86

https://www.globenewswire.com/NewsRoom/AttachmentNg/be8f1149-079e-44e2-9194-e74eb7df0bdc

The MIL Network –

April 26, 2025

MIL-OSI: OTCQX Best 50 Virtual Investor Conference: Presentations Now Available for Online Viewing

Source: GlobeNewswire (MIL-OSI)

NEW YORK, April 25, 2025 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the OTCQX Best 50 Virtual Investor Conference, held April 24^th are now available for online viewing.

REGISTER AND VIEW PRESENTATIONS HERE

The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.

Select companies are accepting 1×1 management meeting requests through April 29^th.

April 24^th

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

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.

Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

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

The MIL Network –

April 26, 2025

MIL-OSI: Prospect Park Announces Full Revocation of Cease Trade Order

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, April 25, 2025 (GLOBE NEWSWIRE) — Prospect Park Capital Corp. (the “Company”) is pleased to announce that the failure-to-file cease trade order (the “FFCTO”) issued by the Ontario Securities Commission (the “OSC”) has been revoked.

The FFCTO was issued by the OSC on February 3, 2023 as a result of the Company’s failure to file its ‎annual financial statements, related management discussion and analysis (“MD&A”) and certifications for the year ended September 30, 2022‎, as required by National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) and National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings. The Company applied to the OSC for full revocation of the FFCTO and the order granting the same was issued effective April 24, 2025.

The Company has filed the following continuous disclosure documents:

Audited annual financial statements, accompanying MD&As and related certificates for the years ended September 30, 2022, 2023 and 2024;
Unaudited interim financial statements, accompanying MD&As and related certificates for the interim periods ended December 31, 2022, March 31, 2023, June 30, 2023, December 31, 2023, March 31, 2024, June 30, 2024, and December 31, 2024;
Executive compensation disclosure in accordance with Form 51-102F6 for the years ended September 30, 2022, 2023 and 2024;
Audit committee disclosure in accordance with Form 52-110F2 for the years ended September 30, 2022, 2023 and 2024 ‎(this disclosure was included in the applicable annual MD&A); ‎and
Corporate governance disclosure required by Form 58-101F2 for the years ended September 30, 2022, 2023 and 2024 ‎(this disclosure was included in the applicable annual MD&A).

As a result, the Company has now filed all continuous disclosure required by the OSC, and the Company has given the following undertakings to the OSC:

The Company will hold an annual general meeting of its shareholders on or before July 24, 2025 (the “Meeting”).
The Company will include a schedule of investment portfolio or similar disclosure in its annual and interim financial statements and certain financial and non-financial disclosure about private company investees within the Company’s portfolio that represent 10% or more of the Company’s assets, subject to certain exclusions, in its annual and interim MD&A.
While the Company is reasonably construed as an “income trust” or “issuer in this policy” pursuant to section 1.2 of National Policy 41-201 – Income Trusts and Other Indirect Offerings with respect to each non-reporting issuer entity in which the Company has an equity investment (each, an “Investee”) where (i) such Investee’s financial statements are not consolidated with those of the financial statements ‎of the Company, and (ii) either (A) the Company’s annual EBITDA received from such Investee during the ‎applicable fiscal year is more than 33.33% of the Company’s total annual consolidated EBITDA during ‎that fiscal year, or (B) the assets of such Investee as at the end of the applicable fiscal year represent ‎more than 33.33% of the Company’s total consolidated assets as at the end of such fiscal year, the Company will file on its SEDAR+ profile (i) annual audited financial statements and related management’s discussion and analysis in respect of the applicable Investee(s), and (ii) an annual certificate concurrently with providing the financial statements referenced in (i) above, that it has complied with the above undertakings.

The Company has also amended and restated By-Law No. 1, which the Company will seek shareholder confirmation at the Meeting, and the directors of the Company have amended its investment policy, a copy of which has been filed on SEDAR+ (www.sedarplus.com).

The Company is continuing its operations as an investment corporation with the objective of enhancing shareholder value, and further intends to continue building its portfolio of investments.

In addition, the Company will be applying to the Canadian Securities Exchange for a reinstatement of the listing of its common shares that were delisted on July 30, 2024, subject to satisfaction of all necessary listing requirements. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved or the timing thereof.

For more information please contact:

James Greig
Chief Executive Officer
Prospect Park Capital Corp.
Tel: (778) 788-2745

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information relates to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing and completion of a shareholders’ meeting; the Company being able to comply with undertakings; the Company continuing to build its portfolio of investments; and the timing and completion of a reinstatement of the listing of its common shares on the Canadian Securities Exchange.

Such statements reflect the ‎Company’s current views and ‎intentions with respect to future events, and ‎current information ‎available to the Company, and ‎are subject to certain risks, uncertainties and ‎assumptions‎, including, without limitation, the Company having necessary capital, and Investees complying with requests, contractual or otherwise, to provide certain information or documents to the Company.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the failure of the Company to receive the required corporate and regulatory approvals, access to capital, negotiation and completion of new acquisitions, as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.com.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking statements are expressly qualified in its entirety by this cautionary statement. The forward-looking statements included in this news release is made as of the date of this news release. The Company does not undertake to update any forward-looking statement referred to herein, except in accordance with applicable securities laws.

The MIL Network –

April 26, 2025

MIL-OSI: Års- och hållbarhetsredovisning för verksamhetsåret 2024

Source: GlobeNewswire (MIL-OSI)

2025-04-25 15:00 PRESSRELEASE

Års- och hållbarhetsredovisning för verksamhetsåret 2024

SSCP Lager Bidco AB (Publ) publicerar idag års- och hållbarhetsredovisning för verksamhetsåret 2024 på sin webbplats www.logent.se, där den kan laddas ner som pdf-version.

För mer information kontakta:

Andrzej Kulik, CFO, telefonnummer: +46 738 156 700, andrzej.kulik@logent.se eller Joel Engström, CEO, telefonnummer: +46 734 36 36 29, joel.engstrom@logent.se

Om Logent:

Logent är en heltäckande och oberoende logistikpartner, med nordisk bas och med globala nätverk. Vi har ett brett serviceutbud och skapar värde till våra kunder genom garanterade kostnads- och kvalitetsförbättringar.

Våra tjänster omfattar Lager- och Produktionslogistik, Transport Management, Tullhantering, Hamnverksamhet samt Bemanningstjänster. Detta gör att Logent från starten 2006 har vuxit till en omsättning på ca 2,2 mdr SEK, sysselsätter ca 2 800 personer

Denna information är sådan information som SSCP Lager BidCo AB (publ) är skyldigt att offentliggöra enligt lagen om värdepappersmarknaden. Informationen lämnades för offentliggörande den 25-04-2025 at 15:00 CET/CEST.

This information is of the type that SSCP Lager BidCo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation, the Swedish Securities Markets Act and the Swedish Financial Instruments Trading Act. The information was submitted for publication through the agency of the contact persons set out above, on 25-04-2025 at 15:00 CET/CEST.

Attachments

The MIL Network –

April 26, 2025

MIL-OSI: Conifers.ai Taps Former RSA, Cylance and McAfee Leaders for Its Board of Directors

Source: GlobeNewswire (MIL-OSI)

DALLAS, April 25, 2025 (GLOBE NEWSWIRE) — Conifers.ai, the agentic AI platform designed to transform security operations, today announced the appointment of three new board members, Chairman Art Coviello of SYN Ventures, David Johnson of TLG Holding and Ryan Permeh of SYN Ventures. These industry veterans bring decades of experience in business strategy, M&A and technology leadership to their positions as advisors for the already fast-growing cybersecurity startup.

This announcement follows the company’s recent $25 million funding round led by SYN Ventures and Picus Capital. Since emerging from stealth in January of this year, Conifers has experienced rapid success, more than doubling its headcount to meet growing demand. Additionally, it has expanded its headquarters in Dallas, TX, and is actively hiring for a variety of roles.

“The increasing need for both greater quality and efficiency in security operations, as well as delivering measurable, strategic results, underscores the importance of providing advanced SOC security solutions that directly address our customers’ pain points,” said Tom Findling, Co-founder and CEO of Conifers. “We’re seeing significant demand for our unique approach, which is transforming security operations for both the enterprise and security service providers through advanced AI, disruptive pricing, and a staged implementation model. The extensive expertise these new advisors offer will be invaluable to our growth and long-term success.”

New board members include:

Art Coviello
Managing Partner & IC Chairman for Flagship Funds, SYN Ventures
Art Coviello has been a central figure within the information security industry for more than 25 years. Most notably, Coviello served as President and CEO of RSA and following RSA’s acquisition by EMC (for $2.1B) as an Executive Vice President of EMC and head of its Security Division. Since stepping down from RSA in 2015 Coviello has been an active investor and advisor in the technology industry, guiding many startups as a private investor and currently as a Managing Partner of SYN Ventures.

David Johnson
Senior Partner/Member of Investment Committee, TLG Holding
David Johnson is a globally recognized corporate strategist and expert in M&A and related integration, having successfully completed more than 120 acquisitions representing more than $40B of equity investment, divestitures, and venture capital investments. Johnson co-founded TLG Capital Partners, after having joined the Blackstone Group where he was a Senior Advisor and Senior Managing Director. While at Blackstone, Johnson led the firm’s technology sector where he was responsible for numerous domestic and international acquisitions in Cyber Security, Cloud Solutions, IT Services, Consulting and Outsourcing.

Ryan Permeh
Operating Partner at SYN Ventures
Ryan Permeh was previously the Co-Founder and Chief Scientist of Cylance, acquired by Blackberry for $1.4b in 2020. He led the architecture behind Cylance’s mathematical engine and groundbreaking approach to security. Permeh has been in the security industry for over 20 years and has a long history in both offensive and defensive security. Prior to co-founding Cylance, he served as Chief Scientist for McAfee, focused on technology strategy, and as a Distinguished Engineer at eEye Digital Security, focused on building security assessment tools.

“Conifers’ approach to leveraging AI in cybersecurity is innovative, solving complex challenges SecOps teams face as a result of escalating threats, and directly addressing pain points in the industry while increasing value for the customer,” said Coviello. “As their growth accelerates, I look forward to contributing to their strategic vision and business objectives to help make them successful in the market as they scale.”

To learn more about the Conifers platform and its leadership team, visit the website.

About Conifers.ai
Conifers.ai is transforming security operations centers (SOCs) with its AI-native Conifers CognitiveSOC™ platform, enabling enterprises and managed security service providers (MSSPs) to achieve SOC excellence. By leveraging agentic AI, Conifers empowers security teams to investigate complex, multi-tier incidents at scale with confidence, efficiency, and accuracy. Led by seasoned industry veterans and supported by SYN Ventures, Conifers is committed to addressing critical SecOps challenges through innovative solutions that enhance operational effectiveness, advanced investigation reasoning, and decision-making capabilities. With its unique staged implementation framework and patent-pending architecture, Conifers.ai builds trust in AI adoption, delivering measurable ROI and business impact. Learn more at https://www.conifers.ai or on LinkedIn and X.

Media Contact
Geena Pickering
Look Left Marketing
conifers@lookleftmarketing.com

The MIL Network –

April 26, 2025

MIL-OSI: TRILLION ENERGY ANNOUNCES 2024 YEAR-END RESERVE REPORT

Source: GlobeNewswire (MIL-OSI)

Vancouver, B.C. , April 25, 2025 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide a summary and highlights of its December 31, 2024, year-end reserve report.

Reserve Report Highlights

Net present value 10% (NPV10%) of total proved plus probable natural gas and oil reserves is USD $363.6 million* net to Trillion, which represents USD $2.98 per common share***
Total proved plus probable conventional natural gas reserves increased to 62.3 Bcf*, up from 55.8 Bcf* (2023), a 12% increase from 2023.
NPV10% of total proved reserves decreased to USD $106.8* million from US$ 134.3* million (2023), a decrease of 20% from 2023.
NPV10% of total proved plus probable plus possible reserves is USD $630.1 million net to Trillion.
Total proved plus probable oil reserves of 247 Mbbl of oil for the Cendere oil field compared to 240 Mbbl in 2023.

*Net Trillion’s 49% interest before income tax and after royalty
*** basic common shares

Reserve Report Summary

Trillion 49% interest, before income taxes and after royalties

	Light and Medium				Conventional				Oil
	Crude Oil				Natural Gas				Equivalent
	(Mbbl)	(Mbbl)			(Bcf)	(Bcf)			(Mboe)	(Mboe)
	Dec. 31	Dec. 31	%		Dec. 31	Dec. 31	%		Dec. 31	Dec. 31	%
	2024	2023	Change		2024	2023	Change		2024	2023	Change
Total Proved	202	186	8.6	%	19.5	18.0	8.3	%	3,454	3,183	8.5	%
Total Probable	45	54	-16.7	%	42.8	37.8	13.2	%	7,182	6,349	13.1	%
Total Proved Plus Probable	247	240	2.9	%	62.3	55.8	11.6	%	10,636	9,531	11.6	%
Total Possible	41	52	-21.2	%	46.3	40.8	13.5	%	7,751	6,859	13.0	%
Total PPP	288	292	-1.4	%	108.6	96.6	12.4	%	18,387	16,390	12.2	%

Net Present Value of Trillion Interest, before income taxes and after royalties

	NPV – 10%
	Before Income Tax
	(US$M)		(US$M)
	Dec. 31		Dec. 31		%
		2024		2023	Change
Total Proved	$	106.8	$	134.3	-20.5	%
Total Probable	$	256.8	$	286.2	-10.3	%
Total Proved Plus Probable	$	363.6	$	420.5	-13.5	%
Total Possible	$	266.5	$	292.2	-8.8	%
Total PPP	$	630.1	$	712.7	-11.6	%

* The decline in valuation is primarily due to lower forecast gas prices used in the 2024 GLJ evaluation compared to 2023.

About the Reserves Evaluation

For the year ended December 31, 2024, the Company’s reserves were evaluated by GLJ Ltd. (“GLJ“), in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook maintained by the Society of Petroleum Evaluation Engineers (Calgary Chapter) (“COGEH”) and National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and are based on the Company’s 2024 year-end estimated reserves as evaluated by GLJ in their report dated April 4, 2025, with an effective date of December 31, 2024 (the “Reserves Report“). GLJ is an independent qualified reserves evaluator as defined in NI 51-101. Additional reserves information as required under NI 51-101 will be included in the Company’s statement of reserves data and other oil and gas information on Form 51-101F1, which is expected to be filed on SEDAR+ by April 29, 2025. See “Advisory Note Regarding Oil and Gas Information” section in the “Advisories”, at the end of this news release.

About the Company

Trillion Energy is focused on natural gas production for Europe and Turkey with natural gas assets in Turkiye and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property. More information may be found on www.sedarplus.ca and our website.

Contact
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company’s ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.

These statements are not guaranteeing of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedarplus.ca, including the most recently filed Annual Report on Form 20-F and subsequent filings for the first quarter of 2024. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedarplus.ca, and or request a copy of our reserves report effective December 31, 2024.

The MIL Network –

April 26, 2025

Category: GlobeNewswire