NewzIntel.com

Category: GlobeNewswire

  • MIL-OSI: Federal Home Loan Bank of Indianapolis Announces Fourth Quarter 2024 Dividends, Reports Earnings

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, Feb. 20, 2025 (GLOBE NEWSWIRE) — Today the Board of Directors of the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) declared its fourth quarter 2024 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 9.50% and 4.50%, respectively. The higher dividend rate on activity-based stock reflects the Board’s discretion under the Bank’s capital plan to reward members that use FHLBank Indianapolis in support of their liquidity needs.

    The dividends will be paid in cash on February 21, 2025.

    “I am proud that FHLBank Indianapolis delivered strong financial results in 2024, a reflection of our steadfast commitment to serving our members’ liquidity needs while maintaining the Bank’s financial strength and stability,” President and CEO Cindy Konich said.

    She added: “In addition to another strong dividend for our members, these results allowed us to invest at record levels in the communities our members serve, including an additional voluntary contribution of 7.5% of 2023 net earnings – bringing the total support of housing and community initiatives in 2024 to 17.5%. Building on the success of 2024, we look forward to continuing this support in 2025 at 17.5% of 2024 net earnings.”

    Earnings Highlights

    Net income, for the fourth quarter of 2024, was $67 million, a net decrease of $37 million compared to the corresponding quarter in the prior year. The decrease was primarily due to a significant increase in voluntary contributions to affordable housing and community investment programs and unrealized losses on qualifying fair-value hedging relationships.

    Net income, for the year ended December 31, 2024, was $342 million, a net decrease of $35 million compared to the prior year. The decrease was primarily due to a significant increase in voluntary contributions to affordable housing and community investment programs and net realized gains on the extinguishment of consolidated obligations in 2023 that did not occur in 2024. However, such decrease was partially offset by higher earnings on the portion of the Bank’s assets funded by its capital.1

    Affordable Housing Program Allocation

    The Bank’s Affordable Housing Program (“AHP”) provides grant funding to support housing for low- and moderate-income families in communities served by its Michigan and Indiana members. For the year ended December 31, 2024, AHP assessments2 totaled $40 million. Such required allocations will be available to the Bank’s members in 2025 to help address their communities’ affordable housing needs, including construction, rehabilitation, accessibility improvements and homebuyer down-payment assistance.

    In addition, as part of the Bank’s commitment to further support its AHP and additional affordable housing and community investment programs, the Bank voluntarily contributed additional funding in 2024 totaling $33 million. Additionally, the Bank made a supplemental voluntary contribution to its AHP totaling $4 million. As a result, voluntary contributions to housing and community investment programs in 2024 totaled $37 million, all of which have been recognized and reported in other expenses.

    The Bank’s combined required and voluntary allocations recognized in 2024 totaled $77 million, an increase of $29 million, or 60%, compared to the prior year.

    __________________

    1 FHLBank Indianapolis earns interest income on advances to and mortgage loans purchased from its Michigan and Indiana member financial institutions, as well as on long- and short-term investments. Net interest income is primarily determined by the size of the Bank’s balance sheet and the spread between the interest earned on its assets and the interest cost of funding with consolidated obligations. Because of the Bank’s inherent relatively low interest-rate spread, it has historically derived a substantial portion of its net interest income from deploying its interest-free capital in floating-rate assets.

    2 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.

    Condensed Statements of Income

    The following table presents unaudited condensed statements of income ($ amounts in millions):

        Three Months Ended
    December 31,    		   Year Ended
    December 31,
          2024     2023     2024     2023
    Interest income(a)   $ 989   $ 1,013   $ 4,130   $ 3,755
    Interest expense(a)     866     873     3,623     3,260
    Provision for credit losses     —     —     —     —
    Net interest income after provision for credit losses     123     140     507     495
    Other income(b)     6     7     32     46
    Other expenses(c)     54     31     157     120
    AHP assessments     8     12     40     44
                     
    Net income   $ 67   $ 104   $ 342   $ 377
    (a) Includes hedging gains (losses) and net interest settlements on fair-value hedge relationships. The Bank uses derivatives, specifically interest-rate swaps, to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations. These derivatives are designated as fair-value hedges and, therefore, changes in the estimated fair value of the derivative, and changes in the fair value of the hedged item that are attributable to the hedged risk, are recorded in net interest income.
    (b) Includes impact of purchase discount (premium) recorded through mark-to-market gains (losses) on trading securities and net interest
    settlements on derivatives hedging trading securities, while generally offsetting interest income on trading securities is included in
    interest income.
    (c) Includes voluntary contributions to the Bank’s AHP and other affordable housing, small business and community investment programs.
       

    Balance Sheet Highlights

    Total assets, at December 31, 2024, were $84.5 billion, a net increase of $7.9 billion, or 10%, from December 31, 2023, primarily due to an increase in advances and mortgage loans outstanding.

    Advances 3

    The carrying value of advances outstanding, at December 31, 2024, totaled $39.8 billion, a net increase of $4.3 billion, or 12%, from December 31, 2023. The par value of advances outstanding increased by 12% to $40.1 billion, which included a net increase in short-term advances of 54% and a net decrease in long-term advances of 4%. At December 31, 2024, based on contractual maturities, long-term advances composed 63% of advances outstanding, while short-term advances composed 37%.

    The par value of advances outstanding to depository institutions — comprising commercial banks, savings institutions and credit unions — increased by 18%, while advances outstanding to insurance companies increased by 1%. As a percent of total advances outstanding at par value at December 31, 2024, advances to commercial banks and savings institutions were 52% and advances to credit unions were 14%, resulting in total advances to depository institutions of 66%, while advances to insurance companies were 34%.

    In general, advances fluctuate in accordance with members’ funding needs, primarily determined by their deposit levels, mortgage pipelines, loan growth, investment opportunities, available collateral, other balance sheet strategies, and the cost of alternative funding options.

    Mortgage Loans Held for Portfolio 4

    Mortgage loans held for portfolio, at December 31, 2024, totaled $10.8 billion, a net increase of $2.2 billion, or 25%, from December 31, 2023, as the Bank’s purchases from its members significantly exceeded principal repayments by borrowers. Purchases of mortgage loans from members, for the year ended December 31, 2024, totaled $3.2 billion.

    In general, the Bank’s volume of mortgage loans purchased is affected by several factors, including interest rates, competition, the general level of housing and refinancing activity in the United States, consumer product preferences, the Bank’s balance sheet capacity and risk appetite, and regulatory considerations.

    Liquidity Investments 5

    Liquidity investments, at December 31, 2024, totaled $12.9 billion, a net increase of $759 million, or 6%, from December 31, 2023. The Bank’s liquidity remained well above regulatory requirements and continues to enable the Bank to be a reliable liquidity provider to its members.

    Cash and short-term investments increased by $271 million, or 2%, to $11.8 billion. The portion of U.S. Treasury obligations classified as trading securities increased by $488 million, or 81%, to $1.1 billion. As a result of this activity, cash and short-term investments represented 92% of the total liquidity investments at December 31, 2024, while U.S. Treasury obligations represented 8%.

    The total outstanding balance and composition of the Bank’s liquidity investments are influenced by its liquidity needs, regulatory requirements, actual and anticipated member advance activity, market conditions, and the availability of short-term investments at attractive interest rates, relative to the cost of funds.

    Other Investment Securities

    Other investment securities, which consist substantially of mortgage-backed securities and U.S. Treasury obligations classified as held-to-maturity or available-for-sale, at December 31, 2024, totaled $20.2 billion, a net increase of $738 million, or 4%, from December 31, 2023.

    Consolidated Obligations 6

    FHLBank Indianapolis’ consolidated obligations outstanding, at December 31, 2024, totaled $78.1 billion, a net increase of $7.0 billion, or 10%, from December 31, 2023, which reflected increased funding needs associated with the net increase in the Bank’s total assets.

    Capital 7

    Total capital, at December 31, 2024, was $4.2 billion, a net increase of $491 million, or 13%, from December 31, 2023. The net increase resulted primarily from issuances of capital stock to support advance activity and the growth in retained earnings.

    The Bank’s regulatory capital-to-assets ratio8, at December 31, 2024, was 5.44%, which exceeds all applicable regulatory capital requirements.

    __________________

    3 Advances are secured loans that the Bank provides to its member institutions.
    4 The Bank purchases mortgage loans from its members to support its housing mission, provide an additional source of liquidity to its members, and diversify its investments.
    5 The Bank’s liquidity investments consist of cash, interest-bearing deposits, securities purchased under agreements to resell, federal funds sold and U.S. Treasury obligations.
    6 The primary source of funds for FHLBank Indianapolis, and for the other FHLBanks, is the sale of FHLBanks’ consolidated obligations in the capital markets. FHLBank Indianapolis is the primary obligor for the payment of the principal and interest on the consolidated obligations issued on its behalf; additionally, it is jointly and severally liable with each of the other FHLBanks for all of the FHLBanks’ consolidated obligations outstanding.
    7 FHLBank Indianapolis is a cooperative whose member financial institutions and former members own all of its capital stock as a condition of membership and to support outstanding credit products.
    8 Total regulatory capital, which consists of capital stock, mandatorily redeemable capital stock and retained earnings, as a percentage of total assets.

    Condensed Statements of Condition

    The following table presents unaudited condensed statements of condition ($ amounts in millions):

        December 31, 2024   December 31, 2023
    Advances   $ 39,833     $ 35,562  
    Mortgage loans held for portfolio, net     10,796       8,614  
    Liquidity investments     12,911       12,152  
    Other investment securities(a)     20,189       19,451  
    Other assets     806       829  
             
    Total assets   $ 84,535     $ 76,608  
             
    Consolidated obligations   $ 78,085     $ 71,053  
    MRCS     363       369  
    Other liabilities     1,852       1,442  
    Total liabilities     80,300       72,864  
             
    Capital stock(b)     2,555       2,285  
    Retained earnings(c)     1,684       1,532  
    Accumulated other comprehensive income (loss)     (4 )     (73 )
    Total capital     4,235       3,744  
             
    Total liabilities and capital   $ 84,535     $ 76,608  
             
    Total regulatory capital(d)   $ 4,602     $ 4,186  
             
    Regulatory capital-to-assets ratio     5.44 %     5.46 %
    (a) Includes held-to-maturity and available-for-sale securities.
    (b) Putable by members at par value.
    (c) Includes restricted retained earnings, at December 31, 2024 and December 31, 2023, of $466 million and $398 million, respectively.
    (d) Consists of total capital less accumulated other comprehensive income plus mandatorily redeemable capital stock.
       

    All amounts referenced above are unaudited. More detailed information about FHLBank Indianapolis’ financial condition as of December 31, 2024, and its results for the year then ended, will be included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Bank’s Annual Report on Form 10-K.

    Safe Harbor Statement

    This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 concerning plans, objectives, goals, strategies, future events and performance. Forward-looking statements can be identified by words such as “will,” “believes,” “may,” “temporary,” “estimates,” and “expects” or the negative of these words or comparable terminology. Each forward-looking statement contained in this news release reflects FHLBank Indianapolis’ current beliefs and expectations. Actual results or performance may differ materially from what is expressed in any forward-looking statements.

    Any forward-looking statement contained in this news release speaks only as of the date on which it was made. FHLBank Indianapolis undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are referred to the documents filed by the Bank with the U.S. Securities and Exchange Commission (“SEC”), specifically reports on Form 10-K and Form 10-Q, which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov.

    Media Contact:
    Scott Thien
    Senior Corporate Communications Associate
    317-902-3103
    sthien@fhlbi.com

    Building Partnerships. Serving Communities.
    FHLBank Indianapolis is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com. Also, follow the Bank on LinkedIn, as well as Instagram and X at @FHLBankIndy. Please note that content the Bank shares on its website and social media is not incorporated by reference into any of its filings with the SEC unless, and only to the extent that, a filing by the Bank with the SEC expressly provides to the contrary.

    The MIL Network –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 20.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    20 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 20.02.2025

    Espoo, Finland – On 20 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,256,122 4.77
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,256,122 4.77

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 20 February 2025 was EUR 5,989,818. After the disclosed transactions, Nokia Corporation holds 254,445,785 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: NorthEast Community Bancorp, Inc. Announces Date of 2025 Annual Meeting of Stockholders

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., Feb. 20, 2025 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the holding company for NorthEast Community Bank, today announced that its annual meeting of stockholders will be held on Thursday, May 22, 2025.

    About NorthEast Community Bancorp

    NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

    Forward Looking Statement

    This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), the effect of the COVID-19 pandemic (including its impact on NorthEast Community Bank’s business operations and credit quality, on our customers and their ability to repay their loan obligations and on general economic and financial market conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

    CONTACT:      Kenneth A. Martinek
    Chairman and Chief Executive Officer
         
    PHONE:   (914) 684-2500
         

    The MIL Network –

  • MIL-OSI: Security Federal Announces Cash Dividend Increase

    Source: GlobeNewswire (MIL-OSI)

    AIKEN, S.C., Feb. 20, 2025 (GLOBE NEWSWIRE) — Security Federal Corporation, parent company of Security Federal Bank, is pleased to announce that a quarterly dividend of $0.15 per share will be paid on or about March 15, 2025, to shareholders of record as of February 28. 2025. This increased dividend represents an increase of $0.01, or 7.1%, over the previous regular quarterly dividend.   

    This is the one hundred thirty-seventh consecutive quarterly dividend to shareholders since the Bank’s conversion in October of 1987 from a mutual to a stock form of ownership. The dividend was declared as a result of the Bank’s continued profitability.

    Security Federal Bank has nineteen full-service branch locations in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank, and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.

    Security Federal Corporation common stock is traded on the Over-the-Counter Bulletin Board under the symbol SFDL.

    The MIL Network –

  • MIL-OSI: Sidero Labs Continues Channel Growth with TrueFullstaq to Provide Secure and Simple Kubernetes Solutions

    Source: GlobeNewswire (MIL-OSI)

    GOLETA, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) — Sidero Labs, delivering solutions that reduce friction in managing Kubernetes and containerized applications, today announced a strategic partnership with TrueFullstaq, a leading European cloud native solutions provider. The partnership, which brings simplified and secure Kubernetes deployments to organizations across Europe, marks a significant milestone in Sidero Labs’ global channel expansion and growing presence in the European market.

    As enterprises increasingly shift toward on-premises and edge computing environments to conserve resources and reduce costs, the demand for more simplified Kubernetes management is growing quickly. Through this partnership, European organizations gain access to Talos Linux, Sidero’s built-for-Kubernetes operating system, and Omni, the SaaS platform for Kubernetes deployments and operations, all supported by TrueFullstaq’s extensive implementation expertise and EU-based support.

    “Our partnership with TrueFullstaq is an important part of our global channel expansion, particularly in the European market where we’re seeing accelerating demand for solutions that can simplify Kubernetes operations without impacting application performance,” said Sean Saperstein, Sales and Partner Lead, Sidero Labs. “TrueFullstaq’s reputation for cloud native expertise speaks for itself; they are a perfect fit to ensure businesses can take full advantage of Talos Linux and Omni. Businesses navigating the complexities of managing and scaling Kubernetes across diverse environments will find a lot of value in the enterprise-grade support and optimization that TrueFullstaq delivers.”

    Sidero’s partnership with TrueFullstaq directly addresses critical challenges for European businesses, including Kubernetes expertise scarcity, cloud native security concerns amid stringent compliance mandates, and the need for consistent management across cloud, edge, and on-premises environments. Talos Linux and Omni, combined with TrueFullstaq’s implementation and support, enable organizations to:

    • Deploy and manage thousands of Kubernetes clusters with minimal operational complexity
    • Ensure consistent security through Talos Linux’s immutable, API-driven architecture
    • Simplify edge computing deployments with automated lifecycle management
    • Access dedicated support from Europe-based cloud native experts

    “Together with Sidero Labs, we’re empowering businesses to scale faster and operate smarter in a cloud native world,” said Chris Baars, CCO, TrueFullstaq. “By becoming a Tier 1 reseller partner, we bring together Sidero Labs’ innovative technology with our deep expertise in cloud native implementations, providing European organizations with a powerful solution for their Kubernetes journey.”

    About Sidero Labs

    Founded in 2019, Sidero Labs, Inc., the creator of Talos Linux and Omni, focuses on bringing simplicity and security to bare-metal and edge Kubernetes. By delivering scalable API-driven management for Kubernetes clusters in any environment, Talos Linux and Omni are making on-prem infrastructures secure by default, easier to use, and more reliable to operate. Talos Linux is a minimal, immutable, and API-managed operating system designed specifically for running Kubernetes. Omni is a SaaS platform that enables enterprise Kubernetes management across bare metal, data centers, cloud, and edge environments. Together, these tools are trusted by hundreds of companies and help manage tens of thousands of clusters worldwide. Learn more at siderolabs.com.

    About TrueFullstaq

    TrueFullstaq combines cloud native consultancy with managed services. With this approach, TrueFullstaq supports organizations throughout their entire cloud native journey. From advice and design, migration and implementation, to setting up, maintaining and optimizing a scalable and secure custom infrastructure.

    TrueFullstaq is part of The Digital Neighborhood
    The Digital Neighborhood is your destination for Microsoft, cloud and AI expertise. With more than 1500 consultants, engineers and specialists across seven countries, The Digital Neighborhood offers a seamless and integrated AI approach to support its 2400 customers in their business transformation. The tech community consists of TrueFullstaq, Pink Elephant, Iquality, 2Foqus, Active Professionals, Cmotions, Focus Enterprise Solutions, GAC Business Solutions, ABC E BUSINESS, Consit, Delegate, Projectum and Sulava. From its headquarters in Amsterdam, The Digital Neighborhood is committed to helping clients realize their digital ambitions and be ready for the future, under the motto ‘work with one of us and you can count on all of us’.
    Visit www.truefullstaq.com.

    Sidero Labs Contact
    Kyle Peterson
    kyle@clementpeterson.com

    The MIL Network –

  • MIL-OSI: Blackharbor BD Announces $500 Million Funding Capacity for Gas, Diesel, Oil Sectors and Luxury Home Builders

    Source: GlobeNewswire (MIL-OSI)

    Los Angeles, CA, Feb. 20, 2025 (GLOBE NEWSWIRE) — Blackharbor Build and Design (Blackharbor BD), a leading investment and funding partner based in California, proudly announces its capacity to fund up to $500 million in the gas, diesel, and oil sectors, as well as luxury home building projects across the United States and globally.

    This significant financial capacity underscores Blackharbor BD’s commitment to driving growth and innovation within critical energy industries and the high-end real estate market. The company offers strategic financial solutions, including project financing, equity investments, and capital structuring, to fuel energy infrastructure expansion and support premium residential developments.

    “Our $500 million funding capacity reflects our strong financial foundation and our vision to support key industries that are essential for economic growth. We are excited to partner with businesses in the gas, diesel, and oil sectors, as well as luxury home builders, to bring ambitious projects to life,” said [Zane Richardson], [CEO] of Blackharbor BD.

    The $500 million funding initiative is expected to support multiple large-scale projects, including:

    • Expanding refinery and distribution facilities for gas, diesel, and oil.
    • Financing new pipeline construction projects to enhance fuel transportation capabilities.
    • Supporting the construction of high-end residential communities and luxury estates.

    Projected allocations include 60% of the funding directed towards energy infrastructure initiatives and 40% dedicated to luxury real estate projects. Blackharbor BD estimates that its investments will generate over 2,000 jobs across construction, engineering, and project management sectors.

    Additionally, Blackharbor BD offers advisory services, including risk management, market analysis, and financial modeling, ensuring successful project execution. The company prioritizes sustainable investment practices, integrating technologies that reduce carbon emissions in energy projects and partnering with eco-conscious developers in luxury real estate.

    “Our investment strategy is rooted in creating long-term value for our partners and the communities we serve. We take pride in offering tailored financial solutions that meet the unique needs of each project while driving innovation and sustainability,” added Richardson.

    Industry leaders, developers, and stakeholders are invited to explore partnership opportunities and leverage Blackharbor BD’s extensive financial resources. For inquiries, visit www.blackharborbd.com or contact partnerships@blackharborbd.com

    About Blackharbor BD:
    Blackharbor BD is a premier investment and funding partner based in California, specializing in providing financial solutions to the energy and real estate sectors. With a commitment to excellence and innovation, Blackharbor BD empowers businesses to achieve their growth ambitions through strategic investments and funding support.

    The MIL Network –

  • MIL-OSI: Willis Lease Finance Corporation Exercises Options for 30 CFM LEAP Engines

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), a leading lessor of commercial aircraft engines and provider of global aviation service operations, has announced that it has exercised existing purchase rights for 30 new LEAP engines from CFM International, the 50-50 joint company between GE Aerospace and Safran Aircraft Engines. The purchase, pursuant to an option in a 2019 order, will include LEAP-1A engines for Airbus A320neo family aircraft, as well as LEAP-1B engines for Boeing 737 MAX aircraft, with delivery dates to be determined. With the addition of these engines to the WLFC portfolio, the Company will be able to offer even more flexible support to operators of these popular engine and aircraft types.

    “We are proud to announce our investment in 30 additional state-of-the-art LEAP engines, an important milestone that reinforces our vision to help our customers connect the world through sustainable flight by providing advanced and efficient solutions,” said Austin C. Willis, WLFC’s Chief Executive Officer.

    Willis Lease Finance Corporation

    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and health epidemics; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

     CONTACT:  Lynn Mailliard Kohler
      Director, Global Corporate Communications
      lkohler@willislease.com
      415.328.4798

    The MIL Network –

  • MIL-OSI: Federal Home Loan Bank of New York Announces Full-Year and Fourth Quarter 2024 Operating Highlights

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of New York (“FHLBNY”) today released its unaudited financial highlights for the quarter and year ended December 31, 2024. 

    The FHLBNY’s net income for 2024 was $738.5 million, a decrease of $12.6 million, or 1.7%, from record net income of $751.1 million for 2023. Net interest income for the year was $986.8 million, a decrease of $8.5 million, or 0.9%, from a record $995.3 million for 2023. Higher market interest rates and continued large earning asset balances contributed to strong net interest income. Yield on assets increased to 5.34% for 2024 from 5.14% in 2023. Other income increased by $35.5 million, to $112.6 million in 2024, mainly due to net unrealized fair value gains on derivatives and hedged items including trading securities held for liquidity purposes. The FHLBNY’s return on average equity (“ROE”) for 2024 was 8.49%, compared to ROE of 9.11% for 2023. Non-interest expense increased by $42.9 million, driven by an increase in voluntary contributions to the FHLBNY’s housing and community development support activities, as well as an increase in compensation and benefits driven by headcount additions and technology-related expenses.

    In the fourth quarter of 2024, the FHLBNY earned $153.3 million in net income, a decrease of $1.6 million, or 1.1%, from net income of $154.9 million for the fourth quarter of 2023. Net interest income for the quarter was $236.9 million, a decrease of $11.5 million, or 4.6%, from $248.4 million in the fourth quarter last year. Yield on assets decreased to 4.91% for the fourth quarter of 2024, from 5.45% for the fourth quarter 2023, reflecting changes in market interest rates. Member borrowings held steady during the period, with average advances balances, at par, of $105.2 billion for the fourth quarter of 2024, compared to $104.7 billion for the fourth quarter of 2023. Other income increased by $18.0 million, to $24.4 million in the fourth quarter of 2024 from $6.4 million in the fourth quarter last year, primarily due to net unrealized fair value gains on derivatives and hedged items including trading securities held for liquidity purposes. Non-interest expense increased by $7.7 million, driven by the same factors as for the full year: voluntary contributions, headcount additions and technology-related expenses. The FHLBNY’s ROE for the fourth quarter of 2024 was 6.80%, compared to ROE of 7.76% for the fourth quarter of 2023. 

    “Throughout 2024, the Federal Home Loan Bank of New York’s continued focus on executing on our foundational liquidity mission in a safe and sound manner and serving the needs of our members and community partners drove our strong performance, resulting in our second-highest annual income and record contributions to our housing and economic development programs and products,” said Randolph C. Snook, president and CEO of the FHLBNY.

    As of December 31, 2024, total assets were $160.3 billion, an increase of $2.0 billion, or 1.2%, from total assets of $158.3 billion as of December 31, 2023. As of December 31, 2024, advances were $105.8 billion, a decrease of $3.1 billion, or 2.8%, from $108.9 billion as of December 31, 2023. Average advances balances, at par, were $110.3 billion in 2024, $1.4 billion or 1.2% lower than the average advances balance level of $111.7 billion in 2023.

    As of December 31, 2024, total capital was $8.4 billion, an increase of $0.2 billion from total capital of $8.2 billion at December 31, 2023. The FHLBNY’s retained earnings increased during 2024 by $0.2 billion to $2.5 billion as of December 31, 2024, of which approximately $1.3 billion is unrestricted retained earnings and $1.2 billion is restricted retained earnings. At December 31, 2024, the FHLBNY was in compliance with its regulatory capital ratios and liquidity requirements.

    The FHLBNY allocated $82.1 million from its 2024 earnings for its Affordable Housing Program, an annual statutory grant program that supports the creation and preservation of affordable housing. In addition, the FHLBNY made $47.7 million in voluntary housing and community development grants and contributions in 2024, including an additional voluntary contribution to the Affordable Housing Program of $22.9 million to support its housing programs for 2025.

    The FHLBNY will publish its 2024 audited financial results in its Form 10-K filing with the U.S. Securities and Exchange Commission, which is expected to be filed on or about March 21, 2025.

               
    Selected Balance Sheet Items (dollars in millions)     
      December 31,   December 31,    
      2024   2023   Change
               
    Advances $ 105,838     $ 108,890     $ (3,052 )
    Mortgage loans held for portfolio   2,345       2,180       165  
    Mortgage-backed securities   19,397       19,582       (185 )
    Liquidity assets   30,344       25,340       5,004  
    Total assets $ 160,300     $ 158,333     $ 1,967  
               
    Consolidated obligations $ 148,411     $ 145,476     $ 2,935  
    Capital stock   6,014       6,050       (36 )
    Unrestricted retained earnings   1,286       1,277       9  
    Restricted retained earnings   1,209       1,061       148  
    Accumulated other comprehensive income   (100 )     (143 )     43  
    Total capital $ 8,410     $ 8,245     $ 165  
               
    Capital-to-assets ratio (GAAP)   5.25 %     5.21 %    
    Capital-to-assets ratio (Regulatory)   5.31 %     5.30 %    
               
    Operating Results (dollars in millions)               
      Quarter Ended December 31,       Year Ended December 31,      
      2024   2023 Change   2024   2023
    		   Change  
                                 
    Total interest income $ 2,002.6     $ 2,136.3     $ (133.7 )   $ 8,918.6     $ 8,400.4     $ 518.2    
    Total interest expense   1,765.7       1,887.9       (122.2 )     7,931.8       7,405.1       526.7    
    Net interest income   236.9       248.4       (11.5 )     986.8       995.3       (8.5 )  
    Provision (Reversal) for credit losses   0.5       (0.1 )     0.6       (0.2 )     1.7       (1.9 )  
    Net interest income after provision for credit losses   236.4       248.5       (12.1 )     987.0       993.6       (6.6 )  
    Non-interest income (loss)   24.4       6.4       18.0       112.6       77.1       35.5    
    Non-interest expense   90.5       82.8       7.7       279.0       236.1       42.9    
    Affordable Housing Program assessments   17.0       17.2       (0.2 )     82.1       83.5       (1.4 )  
    Net income $ 153.3     $ 154.9     $ (1.6 )   $ 738.5     $ 751.1     $ (12.6 )  
                                                     
    Return on average equity   6.80 %     7.76 %             8.49 %     9.11 %          
    Return on average assets   0.37 %     0.39 %             0.44 %     0.46 %          
    Net interest margin   0.58 %     0.63 %             0.59 %     0.61 %          
                                                     

    Federal Home Loan Bank of New York
    The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of December 31, 2024, the FHLBNY serves 341 member institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
    This report may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected,” “expects,” “may,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.

    CONTACT: Brian Finnegan
    (212) 441-6877
    brian.finnegan@fhlbny.com

    The MIL Network –

  • MIL-OSI: Suzy Unveils Suzy Speaks: A New Era In Conversational Research

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) — Suzy, the leading end-to-end consumer insights platform, today announced the launch of Suzy Speaks, a groundbreaking voice-driven research methodology designed to revolutionize the way brands gather consumer insights. With AI-moderated conversations, Suzy Speaks enables brands to capture rich qualitative insights at quantitative scale.

    “The future of consumer research is voice-driven,” said Matt Britton, Founder & CEO of Suzy. “Consumers, especially Gen Z, expect seamless, natural interactions, and brands need agile, scalable solutions to keep pace. With Suzy Speaks, we’re not just modernizing research—we’re pioneering a new era of real-time, conversational insights.”

    Suzy Speaks seamlessly integrates with the research brands are already conducting, enabling faster iteration and deeper insights. With AI-moderated conversations, customers can explore sensitive or confidential topics more effectively while ensuring responses come from verified, real people. The AI moderator automatically probes, clarifies, and analyzes data in real-time, dramatically reducing the time and cost typically associated with traditional qualitative research.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    Expanding AI-Powered Research Capabilities

    Suzy Speaks is part of a broader suite of AI-powered innovations that Suzy offers designed to simplify and accelerate research workflows:

    • AI Summaries: Automatically generate executive summaries that highlight key themes across all research types, including surveys, monadic tests, video and text open-ends, and Suzy Live interviews and focus groups.
    • AI Screener Generation: Dynamically generate screening questions based on category, brand, product usage, and research objectives—automatically programmed into ready-to-launch survey drafts.
    • AI Heatmapping: Drive stronger consumer connections and higher conversions by measuring exactly what’s capturing their attention. AI heatmapping leverages a predictive algorithm based on data from over 1MM eye tracking studies. Test digital assets, ads, packaging, and in-store environments, giving you the results you need at a fraction of the cost–and in a fraction of the time.

    “AI isn’t just enhancing our research tools—it’s fundamentally reshaping them,” said Laima Widmer, SVP, Market Research at Suzy. “By freeing consumers from rigid questionnaires and capturing their experiences in an authentic, organic way, AI democratizes market research and unlocks insights once lost in the noise. This isn’t some distant future—it’s our new reality in the making.”

    Suzy Unveils Bold Rebrand Alongside Suzy Speaks Launch

    Suzy is unveiling a bold new brand identity and website redesign, reinforcing its mission to fuel innovation and growth for its customers. The refresh introduces a modern look and dynamic tone that reflect Suzy’s role in helping brands move faster, think bigger, and stay ahead in an evolving market. At the core of the new identity is the “spark”—a symbol of the breakthrough moments Suzy creates, inspiring action and innovation.

    About Suzy
    Founded in 2018, Suzy is changing the way research gets done by integrating quantitative analysis, qualitative analysis, and high quality audiences into a single connected research cloud. Suzy enables teams to conduct iterative, efficient research with agency-quality rigor at a fraction of the cost of traditional market research. Suzy has been recognized on Forbes’ list of America’s Best Startup Employers in 2022, Inc. Magazine’s list of Best Workplaces of 2022 & 2023, Inc. Magazine’s Top 5000 list in 2024, GRIT’s Top 50 Most Innovative Supplier in Market Research and a Top 25 Innovator in 2024 by the Insights Association. Suzy has raised over $100 million in venture capital funding from investors that include Bertelsmann Digital Media Investments, Foundry Group, H.I.G. Capital, Rho Ventures, North Atlantic Capital, Tribeca Venture Partners, Triangle Peak Partners, and Kevin Durant’s 35 Ventures. Learn more at www.suzy.com.

    Contact Info:
    Melissa Dunn
    EVP, Marketing & Communications
    Suzy, Inc.
    917-969-8200
    melissa.dunn@suzy.com

    The MIL Network –

  • MIL-OSI: Alectra Inc. employees unite with compassion to raise $200,000 for United Way’s food security programs

    Source: GlobeNewswire (MIL-OSI)

    MISSISSAUGA, Ontario, Feb. 20, 2025 (GLOBE NEWSWIRE) — Alectra employees united to raise a total of $48,000 through regular payroll deductions to support the United Way’s food insecurity programs. Alectra made an additional corporate contribution of approximately $152,000, bringing the total donation amount to $200,000.

    “Alectra employees came together with an inspiring spirit of compassion to improve the lives of individuals and families in need,” said Brian Bentz, President and Chief Executive Officer, Alectra Inc. “The funds raised will play a crucial role in addressing food insecurity in our communities, and we’re grateful to continuously support all the impactful programs led by the United Way.”

    These funds have been distributed across the United Way catchment area, encompassing the Greater Toronto Area, Halton and Hamilton, Simcoe Muskoka, Wellington Dufferin, and the Niagara region.

    “United Way Greater Toronto supports 23 food security programs that strengthen local food systems and build inclusive communities,” said Scott Kuipers, Manager, Corporate Donor Relations, United Way. “When you give to United Way, you’re supporting solutions like food production, distribution, and capacity-building programs that meet the immediate and long-term needs of our neighbours.”

    United Way Greater Toronto’s strategic investments support on-the-ground solutions that have proven to be effective in food distribution, food production, and capacity building. Often, these agencies not only offer immediate access to food, but coordinated and wraparound supports necessary for food security. For example, United Way-funded programs such as Unison Health and Community Centre’s Green Markets project provide affordable fresh produce for at least 800 households in northwest Toronto. These programs not only address immediate food needs but also foster community connections through workshops on healthy eating and waste reduction.

    “Without flexible United Way funding there would not have been any way to provide food to hundreds of families in this past year,” said Shobha Adore, Executive Director at Braeburn Neighbourhood Place. “UWGT recognized the importance of finding a way to feed families with a good, fair staffing model and supported us 100 per cent.”

    Since 2016, Alectra has been supporting the United Way and has donated over 2 million dollars through its AlectraCARES Community Support Program. To learn more about Alectra’s community support, visit: alectra.com/about-community-support

    About Alectra’s Family of Companies

    Serving more than one million homes and businesses in Ontario’s Greater Golden Horseshoe area, Alectra Utilities is now the largest municipally-owned electric utility in Canada, based on the total number of customers served. We contribute to the economic growth and vibrancy of the 17 communities we serve by investing in essential energy infrastructure, delivering a safe and reliable supply of electricity, and providing innovative energy solutions.

    Twitter: https://twitter.com/alectranews

    Facebook: https://www.facebook.com/alectranews/

    Instagram: https://www.instagram.com/alectranews/?hl=en

    LinkedIn: https://www.linkedin.com/company/16178435/admin/

    Bluesky: https://bsky.app/profile/alectranews.bsky.social 

    YouTube: https://www.youtube.com/alectranews

    Media Contact:

    Ashley Trgachef, Media Spokesperson
    ashley.trgachef@alectrautilities.com | Telephone: 416.402.5469 | 24/7 Media Line: 1.833.MEDIA-LN

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5103e749-1e68-4368-9972-ec108cc84a85

    The MIL Network –

  • MIL-OSI: Breker RISC-V SystemVIP Deployed across 15 Commercial RISC-V Projects for Advanced Core and SoC Verification

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) — Breker Verification Systems today confirmed its RISC-V SystemVIP library components and test suite synthesis product portfolio is deployed in more than 15 commercial RISC-V semiconductor design projects, while its RISC-V products are used in several large-scale academic projects.

    Large, complex application processor projects that range from data center, automotive and AI accelerator to consumer device applications rely on Breker’s RISC-V CoreAssurance™, SoCReady™ and Cache Coherency SystemVIPs across the RISC-V core and SoC verification stack. Breker executives are heading working groups in the evolving RISC-V International certification program.

    “Breker Verification Systems’ products provide significant advantages on top of standard verification solutions, especially for the most challenging verification problems,” affirms Ty Garibay, President of Condor Computing. “Applying these approaches to RISC-V processor design was a natural extension, and leveraging this technology in the development of our high-performance CPU IP is already paying dividends.”

    Breker’s test suite synthesis solution and SystemVIP library allow for enhanced verification coverage while significantly reducing test development time for complex scenarios. The verification of processor cores that leverage the RISC-V Open Instruction Set Architecture (ISA) requires testing specialized, unique scenarios. Breker’s RISC-V synthesized SystemVIPs make use of AI Planning Algorithms, cross-test multiplication and concurrent, multi-threaded scheduling provide rigorous testing from randomized instructions to unique coherency, paging and other complex system integration validation.

    “MIPS RISC-V cores represent the state-of-the-art in advanced application processor solutions,” notes Steve Mullinnix, Senior Director, Design Verification, MIPS. “Working with Breker, we are able to verify complex, compounded scenarios unique to these devices quickly and efficiently.”

    Breker is cooperating with academic institutions including Harvey Mudd College in Claremont, Calif., and Oklahoma University, developers of the Wally open-source processor core, and ETH Zurich in Zurich, Switzerland, that produced the Ariane processor core. Breker has provided application-level tests for these institutions while collaborating on next-generation verification environments.

    “Breker is at the forefront of RISC-V verification,” comments David Harris, the Harvey S. Mudd Professor of Engineering Design. “It’s first-rate SystemVIP synthesis platform is a breakthrough verification tool and an effective problem-solver for our RISC-V programs.”

    Additionally, executives from Breker are leading two working groups within RISC-V International’s Certification Steering Committee to develop a program to provide a quality stamp based on extensive, independent architectural testing.

    “The rate of adoption of our tools is remarkable and supports our belief that test suite synthesis is a must have tool for every RISC-V design project,” says David Kelf, Breker’s Chief Executive Officer. “Our efforts to build more features will continue as will our willingness to partner with leading project groups and industry organizations helping to cement the RISC-V ISA place across the semiconductor industry.”

    Breker’s RISC-V CoreAssurance, SoCReady and SystemVIP
    Breker unveiled RISC-V CoreAssurance, SoCReady and SystemVIP in June 2024, along with a complete range of tests for the entire RISC-V core verification stack. Starting with randomized instruction generation and microarchitectural scenarios, SystemVIP includes unique tests that check all integrity levels ensuring the smooth application of the core into an SoC, regardless of architecture, and the evaluation of possible performance and power bottlenecks and functional issues.

    The SystemVIP can be extended for custom RISC-V instructions to be fully incorporated into the complete test suite crossed with other tests. It is self-checking and incorporates debug and coverage analysis solutions and can be ported across simulation, emulation, prototyping, post-silicon and virtual platform environments.

    Breker’s SystemVIP is used for a variety of complex RISC-V core designs, including system coherency in a multicore SoC integrity test sets, high-coverage core test, power domain switching, hardware security access rules and automated packet generation

    Breker at DVCon U.S. February 24-27 in San Jose
    Breker will exhibit and demonstrate its RISC-V CoreAssurance and SoCReady SystemVIP and Trek Test Suite Synthesis solutions at DVCon U.S. February 24-26 at the DoubleTree Hotel in San Jose, Calif.

    It will present a workshop titled “Complex Verification Example: RISC-V MMU Verification of Virtualization and Hypervisor Operation for CPU and SOC platforms” Monday, February 24, from 3:30 p.m. until 5 p.m. in the Oak Room.

    To arrange a demonstration or private meeting, send email to info@brekersystems.com.

    About Breker Verification Systems
    Breker Verification Systems solves complex semiconductor challenges across the functional verification process from streamlining UVM-based testbench composition to execution for IP block verification, significantly enhancing SoC integration and firmware verification with automated solutions that provide test content portability and reuse. Breker solutions easily layer into existing environments and operate across simulation, emulation and prototyping, and post-silicon execution platforms. Its Trek family is production-proven at leading semiconductor companies worldwide and enables design managers and verification engineers to realize measurable productivity gains, speed coverage closure and easy verification knowledge reuse. As a leader in the development of the Accellera Portable Stimulus Standard (PSS), privately held Breker has a reputation for dramatically reducing verification schedules in advanced development environments. Case studies that feature Altera (now Intel), Analog Devices, Broadcom, IBM and other companies leveraging Breker’s solutions are available on the Breker website.

    Engage with Breker at:
    Website: www.brekersystems.com
    Twitter: @BrekerSystems
    LinkedIn: https://www.linkedin.com/company/breker-verification-systems/
    Facebook: https://www.facebook.com/BrekerSystems/

    TrekSoC, TrekSoC-Si, TrekBox and SoC Scenario Modeling are registered trademark of Breker Verification Systems. Breker Verification Systems acknowledges trademarks or registered trademarks of other organizations for their respective products.

    For more information, contact:
    Nanette Collins
    Public Relations for Breker Verification Systems
    nanette@nvc.com

    The MIL Network –

  • MIL-OSI: C&F Financial Corporation Announces Increase in Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., Feb. 20, 2025 (GLOBE NEWSWIRE) — The board of directors of C&F Financial Corporation (NASDAQ:CFFI) (the Corporation) has declared a regular cash dividend of 46 cents per share, which is payable April 1, 2025 to shareholders of record on March 14, 2025. This dividend represents a 5 percent increase over the prior quarter’s dividend amount of 44 cents per share.

    The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.  

    About C&F

    C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company is a regional finance company purchasing automobile, marine and recreational vehicle loans primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

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

    Contact:     Jason Long
    Chief Financial Officer and Secretary
    (804) 843-2360
         

    The MIL Network –

  • MIL-OSI: Saudi Arabia Clinical Trials Market Report Insight On Active Clinical Trials By Indication Phase

    Source: GlobeNewswire (MIL-OSI)

    Delhi, Feb. 20, 2025 (GLOBE NEWSWIRE) — Saudi Arabia Clinical Trials Market, Ongoing Clinical Trials By Company, Indication, Phase & Regulations Insight 2025 Report Highlights:

    • Saudi Arabia Clinical Trials Market Opportunity: US$ 200 Million
    • Comprehensive Insight On Clinical Trials Studies In Saudi Arabia : > 400 Studies
    • Clinical Trials Studies By Indication, Phase & Sponsor
    • Regulatory Framework & Clinical Trials Guidelines
    • Insight On Domestic CRO Operating In Saudi Arabia: 15 CRO
    • Overview On Existing Healthcare Infrastructure & Medical Professionals Like Doctors, Dentist, Nurses

    Download Report: https://www.kuickresearch.com/report-saudi-arabia-clinical-trials-market

    Saudi Arabia’s clinical trial landscape is rapidly evolving, positioning the country as an emerging hub for research and development in the Middle East. With a strong regulatory framework, expanding healthcare infrastructure, and an increasing focus on innovation, Saudi Arabia is determined to play a more significant role in the global clinical trials ecosystem. The country is making concerted efforts to attract pharmaceutical companies, researchers, and investors to establish a robust presence in the global clinical trial landscape, capitalizing on the opportunities presented by a well-regulated and high-potential healthcare market.

    One of the driving forces behind this ambition is the growing recognition of Saudi Arabia’s strategic position as a gateway to the region’s emerging healthcare markets. With a highly centralized healthcare system, the country provides easy access to a well-established network of hospitals and research centers, such as the King Abdullah International Medical Research Center (KAIMRC), King Faisal Specialist Hospital & Research Centre, King Fahad Medical City, and King Khalid University Hospital. These institutions are at the forefront of clinical research and play a pivotal role in conducting trials. Their state-of-the-art facilities and research capabilities make them attractive partners for international pharmaceutical companies looking to expand their clinical trial operations in the Middle East.

    Saudi Arabia is increasingly becoming a key player in various therapeutic areas, particularly oncology, endocrinology/metabolism, cardiology, and infectious diseases. These areas are among the most studied in the country, driven by both local healthcare needs and global demand for innovative treatments. Oncology, in particular, has seen substantial research efforts due to the rising incidence of cancer in the region, prompting pharmaceutical companies to sponsor a significant number of studies. The focus on endocrinology/metabolism and cardiology aligns with the country’s efforts to tackle the growing prevalence of chronic diseases, such as diabetes and cardiovascular conditions. Additionally, Saudi Arabia’s strategic location in the Middle East allows it to be a key player in research related to infectious diseases, which are particularly relevant in the context of global public health crises.

    The Saudi government’s continued investment in healthcare infrastructure and the presence of world-class research facilities have fueled an impressive surge in clinical trials. The Ministry of National Guard-Health Affairs (MNG-HA), which oversees some of the country’s most advanced hospitals and research centers, is leading the charge in facilitating clinical research. MNG-HA hospitals are equipped with extensive patient databases, providing an invaluable resource for clinical trial recruitment. The country’s ongoing national initiative to consolidate patient databases and streamline access to these resources is positioning Saudi Arabia as an attractive destination for clinical trials. In particular, KAIMRC’s stem cell registry and biobank are noteworthy, offering a comprehensive repository of biological samples that could prove to be a goldmine for pharmaceutical companies interested in conducting trials with diverse and high-quality participant pools.

    Despite the country’s rapid progress in clinical trials, there are still challenges to overcome, particularly in terms of commercialization and patenting. While academic research and clinical studies are thriving, the translation of these efforts into patents and commercialized products remains limited. Saudi Arabia has made strides in strengthening intellectual property laws and fostering innovation, but the process of patenting and bringing research to market has been slower than anticipated. However, efforts are underway to address this gap, with the government prioritizing initiatives that support the commercialization of research and the growth of the biopharmaceutical sector.

    Overall, Saudi Arabia’s clinical trial landscape is full of promise. The country’s strategic investments in healthcare infrastructure, research, and patient databases make it an attractive destination for global pharmaceutical companies. As the regulatory framework continues to evolve and the nation’s commitment to clinical research grows, Saudi Arabia is on track to become a key player in the global clinical trials market. With a focus on expanding clinical research in areas such as oncology, cardiology, and infectious diseases, the country has the potential to significantly contribute to global healthcare advancements in the coming years.

    The MIL Network –

  • MIL-OSI: Net Asset Value(s) as at 31 January 2025

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA / VTAS)
    January 2025 monthly report

    NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES

    Guernsey, February 20th, 2025

    AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for January 2025. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).

    Performance and Portfolio Activity

    Dear Investors,

    Volta Finance started 2025 on a positive note as net performance reached +1.7% in January while Financial Half Year net performance for Volta settled at 11.4%. Both our investments in CLO Debt and CLO Equity performed positively over the course of the month, benefiting from positive market conditions for risky assets.

    In broader economic news, the Federal Reserve decided to keep interest rates unchanged for the first time since it started cutting rates last September. This has led markets to expect that the easing cycle might resume in 2026. In Europe, the eurozone economy showed no growth despite anticipations of a +0.1pp expansion, and Christine Lagarde announced a 25 basis points cut in key European Central Bank interest rates. Although largely backed by the data divergence with the US, it is interesting to note the striking difference in terms of monetary path between the US and the European Union as we anticipate further cuts in Europe.

    Credit markets tightened significantly this month, although we noted heightened volatility in line with broader macro headlines around mid-month. In Europe, High Yield indices were roughly 20bps tighter while US CDX High-Yield tightened by 11bps. On the Loan side, Euro Loans prices increased by about 40cts up to 98.41% (Morningstar European Leveraged Loan Index), while US Loans rose by 28cts to 97.61%.

    The primary CLO markets started strong this year, especially in Europe with New Issue volumes up 120% vs. Jan 24 (down 21% in the US vs. Jan 24). In terms of performance, CLO markets performed in line with US High Yield at +1.4% over the month and better than Global Loans +0.9%. In line with all major rating agencies that expect Loan default rates to go down in 2025 we remain constructive on the CLO asset class and the performance of the underlying loan portfolios this year.

    CLO Equity distributions remained healthy in January, although as expressed earlier, the spread compression in the Loan market has slightly lowered these distributions. Over the last 6 month period, the cashflow generation was c. €27m equivalent of interests and coupons, representing c.19% of January’s NAV on an annualized basis, compared to c. €30m equivalent of interest and coupons received 6 months ago. Refinancing or Resetting CLO liabilities will continue to be a key focus for us in 2025.

    Regarding our portfolio activities, we took profits on a US Mezzanine position as the market was risk-on (c. USD 7mm nominal) while another USD 3mm of US CLO mezzanine debt redeemed at face value.

    Over the month, Volta’s CLO Equity tranches returned a 3% performance** while CLO Debt tranches returned +1.6% performance**, cash representing c.9.0% of NAV. The fund being c.21% exposed to USD, the recent currency moves had a negative impact of -0.1% on the overall performance.

    As of end of January 2025, Volta’s NAV was €279.0m, i.e. €7.63 per share.

    *It should be noted that approximately 0.16% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.05% as at 31 December 2024, 0.11% as at 30 September 2024.

    ** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

    CONTACTS

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A, Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    Attachment

    The MIL Network –

  • MIL-OSI: Haffner Energy and ATOBA Energy collaborate to unlock the SAF value chain and scale the market

    Source: GlobeNewswire (MIL-OSI)

    This strategic partnership secures long-term offtake agreements, unlocking financing and accelerating the scale-up of SAF production.               

     

    Vitry-le-François, France / Lyon, France (February 20, 2025, 6:00pm CEST)

    Haffner Energy, a leading solid biomass-to-clean fuels solutions provider, and ATOBA Energy, a SAF aggregator committed to unlocking the Sustainable Aviation Fuel (SAF) value chain by solving the financial dilemma between producers and final offtakers, are joining forces to accelerate the development of SAF projects and facilitate their financing, they announced today.

    France-based Haffner Energy relies on its 31-year experience to design, manufacture, supply, license, and operate proprietary disruptive clean fuels solutions, including critical technology for SAF production, using all types of biomass residues wet or dry, such as agricultural and municipal waste. The company has already announced the development of a couple of SAF projects, notably Paris-Vatry SAF in France, where full scale production is expected to be reached by 2030 when the next stage of the European SAF mandate kicks in. Partnering with SAF aggregator ATOBA will significantly enhance SAF offtake then.

    “We are particularly excited about this partnership with ATOBA, as it will facilitate the financing of our SAF projects, starting with Paris-Vatry. One of the most crucial challenges in securing financing for SAF production facilities is the ability to obtain offtake contracts that guarantee the purchase of SAF at a stable, price for periods exceeding five years. The key advantage provided by ATOBA is that it offers this guarantee while significantly reducing risks and commitments for airline clients. This will facilitate and accelerate their engagement in SAF procurement. As such, it is a win-win model for all stakeholders and we are extremely pleased that ATOBA has identified us as a strategic and unique player in the SAF ecosystem”, said Haffner Energy co-founder and CEO Philippe Haffner.

    Indeed, the SAF market is facing challenges in expanding at the rate demanded by environmental needs and regulatory mandates. While producers need long-term, stable pricing contracts to amortize their investments, airlines seek assurance of optimum market prices in the context of a still-immature industry with diverse competing technologies. This conflict of expectations currently hinders the development of SAF production projects, and ATOBA’s unique business model brings the solution.

    “We are delighted to launch an offtake agreement with Haffner Energy, a company that has demonstrated for decades the quality and robustness of its biomass transformation technological and industrial solutions. Haffner Energy plays a key role in unlocking second-generation feedstocks, which are essential for both Alcohol-to-Jet and Gas Fischer-Tropsch SAF pathways. At ATOBA, we strongly believe that a variety of technologies and pathways are required to meet our aviation decarbonization targets, as the best production route and feedstock depend on the specific regional characteristics. Having Haffner Energy in our portfolio of SAF producers is an essential brick in our aggregation strategy, reinforcing our ability to provide diversified, reliable, and scalable SAF solutions to the market”, highlighted ATOBA Energy co-founder and CEO Arnaud Namer.

    Also based in France, ATOBA uniquely unlocks the SAF financial stalemate through its upstream and downstream SAF offtake portfolio management. By offtaking from diversified producers and technologies like Haffner Energy, ATOBA mitigates technological and pricing risks associated with the various SAF production pathways, and enables the closing of long-term offtake agreements among airlines, jet-fuel distributors, SAF producers, and financial institutions, which are essential for scaling the industry.

     

    About Haffner Energy

    Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Logo Blue ATOBA Energy – small Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biochar. A family-owned company co-founded 32 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. Further information is available at www.haffner-energy.com.

     

    About ATOBA Energy

    ATOBA is the midstream Sustainable Aviation Fuel (SAF) aggregator focused on accelerating the aviation industry’s energy transition through solving the financial dilemma between airlines and producers. ATOBA provides long-term SAF contracts to airlines and jet-fuel resellers at optimized market SAF pricing indexes. The company brings high security and competitiveness to the SAF supply chain for its airline partners via offtake from diversified producers and technologies, as well as best-in-class sector expertise. Simultaneously, ATOBA’s aggregation strategy allows the SAF industry to scale by providing producers with long-term offtake agreements that support their Final Investment Decisions for their  SAF production plants. Further information is available at www.atoba.energy

     

    Media relations

    Haffner Energy laetitia.mailhes@haffner-energy.com  tel. +33 (0)6 07 12 96 76

     ATOBA Energy press@atoba.energy  tel. +33 (0)6 11 65 92 74

    Investor relations

    Haffner Energy investisseurs@haffner-energy.com 

    ATOBA Energy investors@atoba.energy tel. +1 310 874 7871    

     

    Attachment

    The MIL Network –

  • MIL-OSI: Coface : 2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Source: GlobeNewswire (MIL-OSI)

    2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Paris, 20 February 2025 – 17.35

    • Turnover: €1,845m, down -0.6% at constant FX and perimeter and down -1.3% on a reported basis
      • Trade credit insurance revenue decreased by -2.2% at constant exchange rates, with slightly positive customer activity in Q4-24
      • Client retention is still high at 92.3% but down slightly from 2023 records; pricing remained negative at -1.4%, in line with historical trends
      • Business information once again recorded double-digit growth (+16.3% at constant FX); factoring stabilised at +0.3% with solid growth in Q4-24
    • Net loss ratio at 35.2%, improved by 2.5 ppts; net combined ratio at 65.5%, up 1.2 ppt
      • Gross loss ratio at 33.4%, improved by 2.4 ppts with still high opening year reserving and high reserve releases
      • Net cost ratio increased by 3.6 ppts to 30.2%, reflecting slightly lower revenues and continued investment, in line with our strategy
      • Net combined ratio in Q4-24 at 68.7%, up 9.7 ppts due to a higher net cost ratio and a very low combined ratio in Q4-23 (59.0%)
    • Net income (group share) of €261.1m, up +8.6%, of which €53.4m in Q4-24, the highest annual figure since the adoption of IFRS 17. Annualised RoATE1at 13.9%
    • Coface continues to be backed by a solid balance sheet:
      • Estimated solvency ratio at ~196%2, above the upper end of target range (155% to 175%)
      • Proposal to distribute3 a dividend per share of €1.40 representing an 80% pay-out ratio
      • Earnings per share reached €1.75
    • Coface signed the acquisition of Cedar Rose, strengthening its capabilities in information services in the Middle East and Africa
    • Gonzague Noël has been appointed as Group Chief Operating Officer (COO)

    Unless otherwise indicated, change comparisons refer to the results as at 31 December 2023

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “2024 was marked by the launch of our Power the Core strategic plan which is deliberately focused on innovation.
    In an environment characterised by weak economic growth, a decrease of our clients’ activity and an increase in the number of bankruptcies, the discipline of our underwriting enabled us to contain the increase in the combined ratio, which rose moderately to 65.5%. Finally, we benefited from the repositioning of our investment portfolio to achieve a return on average tangible equity of 13.9%, above our mid-cycle targets. The net income of €261m marked the highest level since the transition to IFRS 17.
    All these achievements would not have been possible without the engagement of our employees.
    These good results and solid solvency ratio of 196% allow us to propose the payment of a dividend of €1.40 per share to the Shareholders’ meeting.”

    Key figures at 31 December 2024

    The Board of Directors of COFACE SA approved the consolidated financial statements at 31 December 2024 at its meeting of 20 February 2025. The Audit Committee at its meeting on 18 February 2025 also previously reviewed them. Accounts are non-audited, certification is in progress.

    Income statements items in €m 2023 2024 Variation % ex. FX*
    Insurance revenue 1,559.1 1,512.9 (3.0)% (2.2)%
    Services revenue 309.2 331.9 +7.4% +7.4%
    REVENUE 1,868.2 1,844.8 (1.3)% (0.6)%
    UNDERWRITING INCOME/LOSS AFTER REINSURANCE 395.4 368.7 (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs 12.4 91.7 638.0% 595.7%
    Insurance Finance Expenses (40.0) (42.5) 6.4% 12.9%
    CURRENT OPERATING INCOME 367.9 417.9 +13.6% +12.8%
    Other operating income / expenses (5.0) (8.6) 74.5% 74.2%
    OPERATING INCOME 362.9 409.2 +12.8% +12.0%
    NET INCOME (GROUP SHARE) 240.5 261.1 +8.6% +6.3%
             
    Key ratios 2023 2024 Variation
    Loss ratio net of reinsurance 37.7% 35.2% (2.5)% ppts
    Cost ratio net of reinsurance 26.6% 30.2% 3.6% ppts
    COMBINED RATIO NET OF REINSURANCE 64.3% 65.5% 1.2% ppt
             
    Balance sheet items in €m 2023 2024 Variation
    Total equity (group share) 2,050.8 2,193.6 +7.0%
    Solvency ratio 199% 196%1         -3 ppt

    * Also excludes scope impact

    1This estimated solvency ratio constitutes a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    1.   Turnover

    In 2024, Coface recorded a consolidated turnover of €1,844.8 million, down by -0.6% at constant FX and perimeter compared to 2023. As reported (at current FX and perimeter), turnover was down -1.3%.

    Revenue from insurance activities (including bonding and Single Risk) fell -2.2% at constant FX and perimeter, although the year ended on a slightly more positive note (Q4-24 revenue from insurance activities rose +3.7% and total revenue increased +4.3%). Client retention remains high at 92.3% (but down from the record level in 2023), in a competitive market where Coface implemented risk mitigation plans that impacted renewals at the beginning of the year. New business rose to €126m, up €9m compared to 2023 driven by an increase in demand and the positive effects of investments for growth, mainly in the mid-market segment.

    Client activity grew modestly at 0.5%, below the historical average with an improvement in Q4-24 (+0.4%). Over the year, the decline in activity in the metals sector, with lower prices, partially offset the positive trend in the agri-food sector. The price effect remained negative at -1.4% in 2024 (vs. -1.9% in 2023), in line with long-term trends.

    Turnover from non-insurance activities was up +8.2% compared to 2023. Factoring turnover stabilised at +0.3% with a positive Q4-24 that reversed the full-year trend. Information services turnover rose +16.3%. Fee and commission income (debt collection commissions) increased by +19.6%, from a low base, due to the increase in claims to be collected and investments made in third-party debt collection. Commissions were up +6.6%.

    Total revenue – in €m
    (by country of invoicing)    		 2023 2024 Variation % ex. FX4
    Northern Europe 379.6 362.2 (4.6)% (4.6)%
    Western Europe 380.1 391.8 +3.1% +0.4%
    Central & Eastern Europe 177.1 173.8 (1.9)% (3.2)%
    Mediterranean & Africa 526.3 538.5 +2.3% +5.6%
    North America 171.8 176.6 +2.7% (6.4)%
    Latin America 100.3 77.7 (22.5)% +4.0%
    Asia-Pacific 133.1 124.3 (6.6)% (7.1)%
    Total Group 1,868.2 1,844.8 (1.3)% (0.6)%

    In Northern Europe, turnover was down by -4.6% at constant and current FX, due to the selective non-renewal of some loss-making policies at the beginning of the year, despite the stabilisation of client activity in Q4-24.

    In Western Europe, turnover increased by +0.4% at constant FX (+3.1% at current FX and perimeter following the integration of certain African countries in the first half of the year) thanks to a sharp increase in information services sales (+30.3%) combined with a better Q4-24 in credit insurance under the effect of significant business catch-up.

    In Central and Eastern Europe, turnover fell -3.2% at constant FX (-1.9% at current FX) due to the decline in client activity, which weighed on credit insurance, despite a high client retention rate. Factoring was down -1.0% at constant exchange rates.

    In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.6% at constant FX and +2.3% at current FX driven by robust sales in credit insurance and services and a stronger economic environment.

    In North America, turnover was down -6.4% at constant FX but increased by +2.7% at current FX due to the integration of Mexico in this scope. The region saw a slowdown in client activity despite higher retention and a fairly strong economic environment.

    In Latin America, turnover rose +4.0% at constant FX but fell -22.5% at current FX. The region is benefiting from a recovery in client activity after 2023 was dominated by risk prevention actions. However, the transfer of Mexico to the North America region had a negative impact.

    In Asia-Pacific, turnover decreased by -7.1% at constant FX and -6.6% at current FX. This lower turnover was due to a slowdown in client activity that robust sales were unable to offset and selective non-renewal of certain policies.

    2.   Result

    • Combined ratio

    The annual combined ratio net of reinsurance was 65.5% in 2024, up 1.2 ppt year on year.

    (i)  Loss ratio

    The gross loss ratio stood at 33.4%, a 2.4 ppts improvement on the previous year. This improvement reflects both the gradual normalisation of the loss experience, offset by rising reserve releases. The amount of claims recorded is now higher than in 2019. The total number of claims decreased, offset by an increase in the number of mid-sized claims.

    The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, reflects the increase in the claims frequency. Strict management of past claims enabled the Group to record 51.9 ppts of recoveries.

    The net loss ratio improved to 35.2%, down 2.5 ppts compared to 2023.

    (ii)  Cost ratio

    Coface is pursuing a strict cost management policy and is continuing to invest, in line with its Power the Core strategic plan. As a result, over the full year 2024, costs rose by +5.5% at constant FX and perimeter, and by +5.3% at current FX.

    The cost ratio before reinsurance was 33.7%, up 2.2 ppts year on year. This rise was mainly due to the decline in revenues (1.0 ppt), embedded cost inflation (1.5 ppt) and ongoing investments (1.5 ppt). In contrast, the improved product mix (information services, debt collection and fee and commission income) had a positive effect. High reinsurance commissions explain the remainder of the variation.

    • Financial result

    Net financial income for 2024 was €91.7m, up sharply compared to 2023. This figure includes capital gains of +€11.4m, which more than offset negative market value adjustments on investments of -€2.9m. The FX effect remained slightly negative at -€2.7m but improved significantly compared to 2023, which was marked by the accounting effect of IAS 29 (hyperinflation) in Turkey and Argentina as well as the sharp devaluation of the Argentine peso.

    The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX impact) was €96.6m, of which €25.7m in Q4-24. The accounting yield5, excluding capital gains and fair value effect, was 2.9% for 2024. The yield on new investments made year-to-date was 4.1% and fell in Q4-24 in line with the trend in market rates.

    Insurance Finance Expenses (IFE) stood at €42.5m (€40.0m in 2023).

    • Operating income and net income

    Operating income amounted to €409.2m in 2024, up +12.0% at constant FX.

    The effective tax rate was 29% for the year (vs. 27% in 2023), including the impact of Pillar 2 (global minimum tax).

    In total, net income (group share) was €261.1m, up +8.6% compared to 2023.

    3.   Shareholders’ equity

    At 31 December 2024, Group shareholders’ equity stood at €2,193.6m, up €142.8m or +7.0% (€2,050.8m at 31 December 2023).

    These changes are mainly due to the positive net income of €261.1m and the dividend payment of -€194.3m. Other items include changes in unrealised capital gains for €72.0m.

    The annualised return on average tangible equity (RoATE) was 13.9%, up 0.5 ppt mainly due to the improvement in financial income, which more than offset the decrease in underwriting income (decline in net premiums and slight increase in the combined ratio).

    The solvency ratio reached 196%6, representing a decrease of 3 ppts compared to FY-23. It remains well above the upper end of the target range (155%-175%).

    Coface will propose €1.40 dividend per share at the Shareholders’ meeting, corresponding to a payout ratio of 80%7, in line with its capital management policy.

    4.   Outlook

    Once again, the global economy experienced modest growth in 2024 (2.7%), in line with Coface’s forecasts and still driven being by the United States. The electoral calendar, which involved an unprecedented number of countries, delivered generally unsurprising outcomes, with some exceptions.

    For 2025, Coface is forecasting growth identical to that of 2024 at 2.7%. Further downgrades to European growth are likely to be offset by the good performance of the United States, while political risk remains. Donald Trump’s return to power seems to have been welcomed by economic circles so far, raising hopes of deregulation, which is stimulating in the short term but often carries longer-term risks. The announced introduction of tariffs for many countries is also a destabilising factor for global trade.

    Against this backdrop, Coface is anticipating a continued rise in bankruptcies, as businesses are caught between depleted levels of cheap financing and sluggish growth. Coface and its teams will continue to support their clients in this still uncertain environment.

    At the end of 2024, client activity finally posted a slightly positive performance after several quarters of decline. This slight rebound may give hope that the post-Covid decline in client activity has come to an end. In 2025, Coface will continue to implement its Power the Core strategic plan, which aims to develop a leading global ecosystem in credit risk management.

    5.   Governance evolution

    In the Executive Committee:

    • As of February 1st, 2025, Carole Lytton leads the Specialties Businesses, in addition to her role as General Secretary. She takes over from Antonio Marchitelli who decided to leave and take another appointment outside Coface after many years of dedication to the Group.
    • As of February 3rd, Gonzague Noël has been appointed as Group Chief Operating Officer (COO). He takes over Declan Daly, joins the Group executive committee and reports to Xavier Durand, Coface CEO.

    Conference call for financial analysts

    Coface’s results for FY-2024 will be discussed with financial analysts during the conference call on Thursday, 20 February 2025 at 18.00 (Paris time). Dial one of the following numbers:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/Investors/financial-results-and-reports

    Income statements items in €m
    Quarterly figures    		 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24   % %
    ex. FX*
    Insurance revenue 395.3 407.8 384.7 371.3 378.6 375.6 375.9 382.7   +3.1% +3.7%
    Other revenue 79.8 76.8 73.4 79.2 85.0 83.4 78.0 85.5   +8.0% +7.6%
    REVENUE 475.1 484.5 458.1 450.4 463.7 459.1 453.8 468.3   +4.0% +4.3%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 103.5 91.2 105.4 100.3 94.7 88.8 84.9   (19.5)% (17.9)%
    Investment income, net of management expenses, excluding finance costs (2.6) 4.0 13.0 (2.0) 17.9 22.8 19.0 31.9   (1667)% (1568)%
    Insurance Finance Expenses (2.4) (12.3) (15.4) (9.9) (11.4) (6.7) (7.3) (17.1)   +73.3% +77.9%
    CURRENT OPERATING INCOME 90.4 95.2 88.9 93.5 106.8 110.9 100.5 99.7   +6.7% +7.9%
    Other operating income / expenses (0.3) (0.4) (0.2) (4.0) (0.1) (0.5) (2.6) (5.5)   +38.3% +36.4%
    OPERATING INCOME 90.0 94.8 88.6 89.5 106.8 110.4 97.9 94.2   +5.2% +6.6%
    NET INCOME (GROUP SHARE) 61.2 67.7 60.9 50.8 68.4 73.8 65.4 53.4   +5.1% +4.9%
    Income tax rate 25.5% 21.9% 24.2% 36.0% 27.2% 26.8% 25.5% 36.2%   +0.2 ppt

    Appendices

    Quarterly results

    Cumulated results*

    Income statements items in €m
    Cumulated figures    		 Q1-23 H1-23 9M-23 2023 Q1-24 H1-24 9M-24 2024   % %
    ex. FX*
    Insurance revenue 395.3 803.1 1,187.8 1,559.1 378.6 754.3 1,130.2 1,512.9   (3.0)% (2.2)%
    Other revenue 79.8 156.6 230.0 309.2 85.0 168.5 246.4 331.9   +7.4% +7.4%
    REVENUE 475.1 959.7 1,417.8 1,868.2 463.7 922.7 1,376.6 1,844.8   (1.3)% (0.6)%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 198.8 290.0 395.4 100.3 195.0 283.8 368.7   (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs (2.6) 1.4 14.5 12.4 17.9 40.8 59.8 91.7   +638.0% +595.7%
    Insurance Finance Expenses (2.4) (14.7) (30.1) (40.0) (11.4) (18.1) (25.4) (42.5)   +6.4% +12.9%
    CURRENT OPERATING INCOME 90.4 185.5 274.4 367.9 106.8 217.7 318.2 417.9   +13.6% +12.8%
    Other operating income / expenses (0.3) (0.7) (0.9) (5.0) (0.1) (0.5) (3.1) (8.6)   +74.5% +74.2%
    OPERATING INCOME 90.0 184.8 273.4 362.9 106.8 217.2 315.1 409.2   +12.8% +12.0%
    NET INCOME (GROUP SHARE) 61.2 128.8 189.7 240.5 68.4 142.3 207.7 261.1   +8.6% +6.3%
    Income tax rate 25.5% 23.7% 23.8% 26.8% 27.2% 27.0% 26.5% 28.7%   +1.9 ppt  

    * Also excludes scope impact

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    1RoATE = Return on average tangible equity
    2This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    3The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.
    4 Also excludes scope impact
    5 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.
    6 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    7 The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.

    Attachment

    The MIL Network –

  • MIL-OSI: Coface appoints Gonzague Noël as Group Chief Operating Officer

    Source: GlobeNewswire (MIL-OSI)

    Coface appoints Gonzague Noël as Group Chief Operating Officer

    Paris, 20 February 2024 – 17.35

    Coface announces the appointment of Gonzague Noël as Group Chief Operating Officer. This change is effective as of 3 February 2025. Based in Paris, Gonzague reports to Xavier Durand, Chief Executive Officer of Coface. He replaces Declan Daly, who is pursuing his career outside the Group.

    Previously, Gonzague was Head of Global Business Administration & Strategic Initiatives at HSBC CIB, where he was responsible for optimizing resources and improving efficiency.

    He began his career at GE Healthcare in 2001 before holding various management positions within GE Corporate and GE Capital, overseeing strategic projects, M&A operations and operational transformations in Europe, Asia and America.

    With more than 20 years of international experience, Gonzague brings to Coface solid strategic and operational expertise in the management of large-scale transformation projects.
    Gonzague holds a Master of science (MSc) from Emlyon Business School.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    The MIL Network –

  • MIL-OSI: COFACE SA: Yves Charbonneau joins the Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    COFACE SA: Yves Charbonneau joins the Board of Directors

    Paris, 20 February 2025 – 17.35

    At its meeting on February 20, 2025, the Board of Directors of COFACE SA co-opted Yves Charbonneau, Senior Vice-President at Arch Insurance Company Ltd (Canada), as a non-independent director at the Board of Directors of COFACE SA.

    He replaces Nicolas Papadopoulo, who is stepping down from the Board of directors to concentrate on his current professional responsibilities at Arch.

    The composition of Coface’s Board of Directors remains otherwise unchanged. It counts 10 members, 6 women and 4 men, the majority (6) of whom are independent directors.

    ————————

    Biography

    Yves Charbonneau was appointed Senior Vice-President at Arch Insurance Company Ltd (Canada) in January 2024. He was previously a Senior Advisor within the same group in the United States.

    He joined Arch in February 2006 and spent almost 12 years as Chief Actuary and Chief Risk Officer.

    Yves Charbonneau holds a bachelor’s degree in mathematics (statistics) from the Montreal University. He is also a FCIA (Fellowship from the Canadian Institute of Actuaries) & FCAS (Fellowship from the Casualty Actuarial Society) fellow.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    The MIL Network –

  • MIL-OSI: Slide Launches Next-Generation BCDR Solution Purpose-Built for MSPs

    Source: GlobeNewswire (MIL-OSI)

    NORWALK, Conn., Feb. 20, 2025 (GLOBE NEWSWIRE) — Slide, the modern, security-first Business Continuity & Disaster Recovery (BCDR) solution purpose-built for Managed Service Providers (MSPs), officially launches today. Backed by industry veterans, Slide is transforming BCDR by addressing critical gaps left by outdated technology, inflexible pricing models, and subpar support.

    Co-founded by Austin McChord, Founder & former CEO of Datto, and Michael Fass, former General Counsel & Chief People Officer at Datto, Slide is setting a new standard in modern backup solutions for MSPs with a focus on security, product innovation, and exceptional support.

    “BCDR for MSPs has been long overdue for reinvention. At Slide, we’ve built a modern solution from scratch—free of legacy constraints—giving MSPs the security, performance, and pricing flexibility they need to grow their business into the future,” said Austin McChord, Co-Founder and Chairman of Slide.

    Slide sets a new standard in BCDR for MSPs by building on four foundational pillars to set it apart from legacy backup providers.

    A Product-First Company – Slide was designed from scratch from a clean-room code base and zero legacy technical debt. Every dollar earned is reinvested into continuous product development and improvement of Slide’s technology platform—one that MSPs can rely on for the next decade and beyond.

    Security-First Architecture – Data security isn’t an afterthought. It is built into Slide’s DNA. In an era of rising cyber threats, Slide is the only BCDR provider that offers native data encryption by default both in transit and at rest with no data storage penalty. Encryption is a critical component in protecting end customers’ data from ransomware, breaches, and insider threats.

    Unmatched Direct-to-Tech Support – Support is at the core of Slide. Direct-to-tech support ensures MSPs have immediate access to engineers via phone, chat, and email. From white-glove onboarding to concierge support, Slide has your back when it matters most.

    Channel-First Business Model – Slide is 100% channel-focused. Exclusively committed to the MSP community and ecosystem, ensuring MSP partners have a solution they can trust—without conflicts of interest. This mindset translates all the way through to a no commitment pricing model to give MSPs maximum flexibility.

    “MSPs deserve a BCDR solution that is snappy, modern, powerful and easy to use along with world class support and flexible pricing. Slide was built for MSPs, and we’re a backup company at our core. We started with the hardest problem to solve—a robust, appliance-based backup solution to back up on-prem workloads. But this is just the beginning, more products are on the way,” said Michael Fass, Co-Founder and CEO of Slide.

    “We’re thrilled to be a Slide launch partner. It has handled our toughest backup and recovery scenarios with ease. The user-friendly interface is fast and intuitive, saving our technicians valuable time. The Slide Z1 is compact yet incredibly powerful, outperforming all our existing backup devices. We’re excited to bring Slide to our customers and elevate our service offerings,” said Brendan Cosgrove, COO, TeamLogic IT.

    The Slide Z1 appliance is engineered for simplicity and reliability, offering:

    • Modern architecture – Built from scratch with a clean-room code base and no legacy technical debt.
    • Extreme performance – NVMe based appliance and cloud servers to deliver unprecedented speed and efficiency.
    • Comprehensive security – Mandatory, native encryption with no data storage penalty, ensuring data protection without sacrificing performance or space.
    • Powerful recovery options – Instant virtualization, block-level backups, file restores, and image exports.

    “Slide has already proven its value across multiple clients. With a recent client’s file server failure, their world-class support had us connected to an expert within minutes. We quickly restored operations with a local VM on the Z1, and over the next 72 hours, Slide stayed in close contact to ensure a seamless redeployment. From start to finish, they had our back—we knew we had a partner we could count on,” said Charles Love, Head of Operations, ShowTech Solutions.

    At launch, Slide delivers a robust feature set designed to maximize efficiency and security. An industry-first feature, Active Reclaim, which optimizes storage by automatically identifying and reclaiming unused space, delivers significant space savings to client backups. Additionally, Slide is committed to deep integrations with industry-leading platforms, ensuring seamless workflows for MSPs. Key partnerships include ScalePad’s Backup Radar, enabling automated backup monitoring and compliance, and Timus Networks, a next-generation Secure Access Service Edge (SASE) provider, strengthening MSPs’ cybersecurity offerings.

    “At ScalePad, we’re thrilled to partner with Slide as one of the first integrations they’ve chosen. Integrating Backup Radar with Slide presents a unique opportunity to push BCDR automation to the next level, giving MSPs the insight they need to ensure every backup is monitored, secure and recoverable when it matters most. Slide’s open API provides deep access to a wide range of functions, allowing us to create the most advanced Backup Radar integration yet. The result is a seamless, intuitive experience that MSPs can trust to reduce risk and increase efficiency – for you and your customers. We’re excited about the partnership and the opportunity it offers for MSPs,” said ScalePad CEO, Chris Day.

    “The MSP community matters so much to me, and I couldn’t be more excited to be back with a new BCDR solution that should raise the bar for everyone. With Slide, we’re delivering a fresh, modern, secure BCDR, designed for MSPs to thrive for the next decade and beyond. The most fun part is that this is just the beginning. I can’t wait to be a part of Slide’s impact of empowering MSPs to grow and succeed,” said McChord.

    The Slide Z1 appliance is available immediately in capacities ranging from 1TB to 16TB and the Slide R1 rackmount appliance configurable up to 64 TB. For more information, please visit slide.tech or contact sales@slide.tech.

    About Slide
    Slide is a modern, security-first Business Continuity & Disaster Recovery (BCDR) company built exclusively for Managed Service Providers (MSP). Founded by Austin McChord (Datto Founder & former CEO) and Michael Fass (former Datto General Counsel & Chief People Officer), Slide is led by a team of industry veterans with deep expertise in backup, disaster recovery, and cybersecurity. Built from scratch, from a clean-room code base, free from legacy technical debt, to deliver the MSP-centric backup and recovery platform of the future. By focusing on security, performance, and simplicity, Slide provides a powerful, cost-effective, and easy-to-use solution that ensures MSPs can protect their clients’ data without the constraints of outdated technology, restrictive pricing models and subpar support. Based in Norwalk, Connecticut, Slide is backed by Outsiders Fund. For more information, visit slide.tech and follow Slide on LinkedIn.

    Media Contact
    media@slide.tech

    The MIL Network –

  • MIL-OSI: Tai Software Carrier Performance Audit Feature Helps Freight Brokers Optimize Relationships and Reduce Risk

    Source: GlobeNewswire (MIL-OSI)

    HUNTINGTON BEACH, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) — Tai Software, a leading provider of Transportation Management Systems (TMS) for freight brokers, has launched Carrier Scorecards, an advanced feature designed to help brokers assess and improve carrier relationships and reduce the risk of fraud through data-driven performance audits.

    Carrier Scorecards provide a structured approach to evaluate carriers based on key performance indicators (KPIs) such as punctuality, responsiveness, and overall customer satisfaction. Using tailored audit questions, brokers gain specific insights into each carrier’s performance. These insights help them make more informed decisions when selecting carriers for future shipments.

    “Powerful relationships drive our industry. We developed Carrier Scorecards to give brokers a tool to refine their carrier relationships based on concrete performance data,” said Daniel Ely, Product Chief Officer. “Leveraging these insights is a broker’s best strategic step toward providing exceptional customer experiences and building sustainable, long-term partnerships.”

    Key Features of Carrier Scorecards

    • Carrier Performance Audits: Brokers create customized audit questions to evaluate carriers on KPIs that align with their business objectives. Following every shipment, brokers use these audits to gather feedback from customers.
    • Carrier Score Calculation: Each audit response contributes to an overall carrier rating on a 1 to 5-star scale. These scores are calculated based on question categories and response frequency, giving brokers an accurate and real-time view of carrier reliability.
    • Total and Individual Service Scores: Carriers receive both an overall score and specific scores for pickup and delivery. Each audit question also receives a separate score, allowing for a detailed performance breakdown.
    • Scorecard Availability: Each carrier’s scorecard is readily accessible in their profile, along with the number of audits completed, providing an easily accessible performance history.
    • Filter Scores by Date: Brokers can view carrier scores for a specified date range, allowing for more focused performance tracking during specific periods.

    Here’s an example of how powerful Carrier Scorecards can be for a broker. The scorecards will report both on-time and late deliveries. If a broker notices a pattern of late deliveries from a certain carrier, they have the choice to address the issue directly with that carrier or consider other carrier options for critical shipments in the future.

    Carrier Scorecards empower freight brokers to make strategic data-driven carrier selections that reduce operational risks, enhance service quality, and drive business growth. This feature is now available to all users as part of Tai’s commitment to advancing efficiency and scalability for all freight brokers.

    About Tai
    Tai Software is a fully integrated freight management platform that drives efficiency and growth for brokers. Tai TMS automates operations for both Full Truckload (FTL) and Less-than-Truckload (LTL) shipments, integrating seamlessly with major carriers and technology partners. With over 500 tool integrations and more than 20 years of industry innovation, freight brokers trust Tai TMS to simplify their processes and focus on strategic business growth. To learn more about Tai Software, visit www.taisoftware.com.

    Please contact Vanessa Galvis, Marketing Director, at vanessa.galvis@tai-software.com.

    The MIL Network –

  • MIL-OSI: Overland AI Opens New Factory for Manufacturing Advanced Ground Autonomy at Scale

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Feb. 20, 2025 (GLOBE NEWSWIRE) — Overland AI, a leader in autonomous ground systems, announced the opening of the Overland AI Factory in South Seattle. Congressman Adam Smith, representing Washington’s Ninth Congressional District, visited yesterday for a ribbon-cutting ceremony and tour of the facility, which will significantly enhance the company’s in-house manufacturing and production of autonomous ground vehicles at scale.

    Congressman Adam Smith participating in a ribbon-cutting ceremony at the Overland AI Factory (South Seattle)

    The Overland AI Factory is designed for end-to-end development and rapid production of both crewed and uncrewed ground vehicles, integrating sophisticated tooling and scalable workflows. The facility will serve as a hub for Overland AI-designed platforms and the precision upfitting of commercial off-the-shelf (COTS) vehicles, enabling mission-ready adaptability for defense and national security applications.

    “I’m honored to attend the ribbon-cutting ceremony of this new Overland AI Factory,” said Congressman Adam Smith. “By investing in local talent and resources, Overland AI is fostering innovation and creating job opportunities in the Ninth Congressional District to support our national security.”

    The Congressman touring Overland AI’s new facility with co-founders Stephanie Bonk (President) and Greg Okopal (Chief Operating Officer)

    Located in Seattle’s industrial corridor, Overland AI’s new Factory accelerates the development of ground vehicles powered by OverDrive. With differentiated capabilities like GPS-denied operation and multi-robot coordination, OverDrive-enhanced vehicles are supporting tactical operators today across the U.S. Army, Marine Corps, and Special Operations Command. The Factory’s strategic location near Joint Base Lewis-McChord, key military airports, and major seaports streamlines defense logistics and the rapid deployment of mission-ready autonomous systems for mission partners.

    “This facility marks a new chapter for Overland AI and the future of autonomous ground systems,” said Greg Okopal, co-founder and chief operating officer of Overland AI. “By bringing manufacturing in-house, we are now offering our partners an integrated solution, from remote operator to effect on the battlefield.”

    “The Overland AI Factory cements the region’s role as a hub for defense technology and manufacturing,” said Byron Boots, co-founder and chief executive officer of Overland AI. “This opening reinforces our commitment to advancing ground autonomy for national security.”

    For more information, visit https://www.overland.ai.

    About Overland AI
    Founded in 2022 and headquartered in Seattle, Washington, Overland AI is powering ground operations for modern defense. The company leverages over a decade of advanced research in robotics and machine learning, as well as a field-test forward ethos, to deliver advanced autonomy for unit commanders. Hazardous missions in austere and electronically denied environments demand that this technology is reliable and resilient. Overland AI’s autonomy kit and OverDrive stack enable ground vehicles to navigate off-road without GPS or direct operator control, while its OverWatch C2 provides commanders with precisely coordinated capabilities that are vital for complex missions to succeed. Overland AI is developing these capabilities and putting them into the hands of tactical operators today.

    Media Contact
    Kristen Hoff
    kristen@firecrackerpr.com
    Firecracker PR
    1-888-317-4687 ext. 702

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/00a4379a-11e2-4231-8453-8a80fb2055bb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/266e9ad0-4d9b-41bb-9635-03772d2718a1

    The MIL Network –

  • MIL-OSI: Orocidin and Syngene Partner to Accelerate Biotech Innovation

    Source: GlobeNewswire (MIL-OSI)

    BEVERLY HILLS, California, Feb. 20, 2025 (GLOBE NEWSWIRE) — Orocidin A/S (“Orocidin”), a subsidiary of Nordicus Partners Corporation (OTCQB: NORD) (“Nordicus” or the “Company”), a financial consulting company specializing in supporting Nordic and U.S. life sciences companies in establishing themselves in the U.S. market, announces a strategic partnership with Syngene International Limited (“Syngene”),

    Syngene’s mission is to work as an extension of its client’s team. Together the teams solve the complex challenges associated with GMP peptide development programs using cutting-edge technology and scalable solutions, while maintaining the highest quality standards. Syngene’s capabilities enable efficient and scalable manufacturing with reduced lead times, ensuring the most robust and streamlined supply chain for future commercialization.

    “We are very impressed with Syngene’s professionalism, commitment to scientific excellence, and ability to deliver high-quality work on time,” said Allan Wehnert, CEO & Founder of Orocidin. “This partnership secures access to highly skilled scientists and state-of-the-art facilities ensuring the development and progress of Orocidin’s QR-01.”

    Alex Del Priore, Senior Vice President – Development & Manufacturing Services, Syngene International Ltd added: “We are delighted to partner with Orocidin in advancing their peptide programs. With a shared focus on speed, scale, and supply chain security, Syngene is well positioned to help biotech companies like Oricidin bring new drugs to market faster and more reliably.”

    For further information, contact:
    Mr. Henrik Rouf
    Chief Executive Officer
    hr@nordicuspartners.com
    Tel +1 310 666 0750

    Investor Relations
    Jonathan Paterson
    Harbor Access Investor Relations
    Jonathan.Paterson@Harbor-Access.com
    Tel +1 475 477 9401

    About Orocidin
    Orocidin’s mission is to develop the preferred treatment against aggressive periodontitis. Our innovative therapeutic agent, QR-01, distinguishes itself through its unique ability to provide treatment of both inflammation and bacterial infection.

    About Syngene
    Syngene International Ltd. is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. Syngene’s more than 5600 scientists offer both skills and the capacity to deliver great science, robust data security, and world class manufacturing, at speed, to improve time-to-market and lower the cost of innovation. With 2.2 Mn sq. ft of specialized discovery, development, and manufacturing facilities, Syngene works with biotech companies pursuing leading-edge science as well as multinationals, including BMS, GSK, Zoetis and Merck KGaA. For more details, visit www.syngeneintl.com For the Company’s latest Environmental, Social, and Governance (ESG) report, visit https://esgreport.syngeneintl.com.

    About Nordicus Partners Corporation
    Nordicus Partners Corporation is the only U.S. publicly traded business accelerator and holding company for Nordic life sciences companies. Leveraging decades of combined management experience in domestic and global corporate sectors, Nordicus excels in corporate finance activities including business and market development, growth strategies, talent acquisition, partnership building, capital raising, and facilitating company acquisitions and sales. In 2024, Nordicus acquired 100% of Orocidin A/S, a Danish preclinical-stage biotech company developing next-generation therapies for periodontitis and 100% of Bio-Convert ApS, a Danish preclinical-stage biotech company dedicated to revolutionizing the treatment of oral leukoplakia. For more information about Nordicus, please visit: www.nordicuspartners.com, and follow us on LinkedIn, X, Threads and BlueSky.

    Cautionary Note Regarding Forward-Looking Statements:
    This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

    The MIL Network –

  • MIL-OSI: TAB Bank Fuels Growth for Farmers with $5 Million Financing Deal for Finance Company Specializing in Agriculture

    Source: GlobeNewswire (MIL-OSI)

    OGDEN, Utah, Feb. 20, 2025 (GLOBE NEWSWIRE) — TAB Bank closed a $5 million Lender Finance facility with a Nevada-based company specializing in factoring financing for farmers, agricultural businesses and fresh produce exporters in Mexico. This partnership enables the agriculture finance company to expand its operations and empower small- to mid-size growers globally by supporting their funding needs.

    Built by growers for growers, the company provides a financial solution tailored to the next generation of agricultural businesses. With payment cycles spanning 30 to 90 days, growers face critical liquidity challenges. The platform bridges this gap by advancing up to 96% of a grower’s sales within 24 hours. This solution delivers fast, flexible and reliable funding that improves cash flow, reduces financial risks and saves time.

    “Small profit margins and complex international transactions create significant hurdles for growers looking to secure their receivables. Our new client and their financial solutions alleviate those pressures, allowing growers to focus on growing their businesses,” said Jerry Clinton, Managing Director of Corporate Underwriting at TAB Bank. “TAB Bank is happy to extend that same opportunity to this innovative company—providing the capital they need to scale their business and continue their mission of supporting the agricultural community worldwide.”

    TAB Bank offers tailored financial solutions to help businesses thrive in competitive markets. TAB Bank provides companies nationwide with bold financial solutions that lift and empower, from working capital facilities to term loans and equipment financing.

    About TAB Bank
    At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to making financial success accessible to everyone through our innovative banking products. Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience. 

    For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

    Contact Information:
    Trevor Morris
    Director of Marketing
    801-624-5172
    trevor.morris@tabbank.com

    The MIL Network –

  • MIL-OSI: Federal Home Loan Bank of Atlanta Announces Preliminary Fourth Quarter and Annual 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 20, 2025 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter and year ended December 31, 2024. All numbers reported below for 2024 are approximate until the Bank announces audited financial results in its Form 10-K, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about March 7, 2025.

    Fourth Quarter 2024 Operating Results

    • Net interest income for the fourth quarter of 2024 was $250 million, an increase of $9 million, compared to net interest income of $241 million for the same period in 2023. The increase in net interest income was primarily related to a decrease in interest rates between the comparative quarters which impacted expense from interest-bearing liabilities more than the income from interest-earning assets, partially offset by a decrease in average advance balances.
    • The average advance balances were $96.1 billion and $111.4 billion for the fourth quarter of 2024 and 2023, respectively.
    • Net income for the fourth quarter of 2024 was $176 million, an increase of $2 million, compared to net income of $174 million for the same period in 2023. The Bank had $16 million of voluntary housing contribution expense during the fourth quarter of 2024, compared to $12 million during the same period in 2023.
    • The net yield on interest-earnings assets for the fourth quarter of 2024 was 67 basis points, an increase of nine basis points, compared to 58 basis points for the same period in 2023. Many of the Bank’s assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the fourth quarter of 2024 was 4.68 percent compared to 5.32 percent for the same period in 2023.
    • The Bank’s fourth quarter of 2024 performance resulted in an annualized return on average equity (ROE) of 8.36 percent as compared to 7.83 percent for the same period in 2023. The increase in ROE was primarily due a decrease in the average total capital outstanding during the fourth quarter of 2024 compared to the same period in 2023.

    Annual 2024 Operating Results

    • Net interest income for the year ended December 31, 2024 was $966 million, an increase of $77 million, compared to net interest income of $889 million for the same period in 2023. The increase in net interest income was primarily related to an increase in interest rates during the year which impacted income from interest-earning assets more than the expense from interest-bearing liabilities, partially offset by a decrease in average advance balances.
    • The average advance balances were $98.8 billion and $125.4 billion for the year ended December 31, 2024 and 2023, respectively.
    • Net income for the year ended December 31, 2024 was $697 million, an increase of $48 million, compared to net income of $649 million for the same period in 2023. The increase in net income was primarily due to a $77 million increase in net interest income. Additionally, during 2024 the Bank had $49 million of voluntary housing contributions expense, compared to $19 million during 2023.
    • The net yield on interest-earnings assets for the year ended December 31, 2024 was 64 basis points, an increase of 14 basis points, compared to 50 basis points for the same period in 2023. The year-to-date average daily SOFR as of December 31, 2024 was 5.15 percent compared to 5.01 percent for the same period in 2023.
    • The Bank’s 2024 performance resulted in an annualized return on average equity (ROE) of 8.31 percent as compared to 7.43 percent for the same period in 2023. The increase in ROE was primarily due to the increase in net income during the year.

    Financial Condition Highlights

    • Total assets were $147.1 billion as of December 31, 2024, a decrease of $5.3 billion from December 31, 2023.
    • Advances outstanding were $85.8 billion as of December 31, 2024, a decrease of $10.8 billion from December 31, 2023.
    • Total capital was $7.9 billion as of December 31, 2024, a decrease of $183 million from December 31, 2023. Retained earnings increased to $2.8 billion as of December 31, 2024, compared to $2.5 billion as of December 31, 2023.
    • As of December 31, 2024, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.

    Reliable Source of Liquidity

    • For 2024, the Bank originated a total of $311.4 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.

    Commitment to Affordable Housing and Community Development

    • The Bank is required and commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $72 million for the 2023 statutory Affordable Housing Program (AHP) assessment available for funding in 2024. As of December 31, 2024, the Bank has accrued $77 million to its AHP pool of funds that will be available to the Bank’s members and their communities in 2025 for funding of eligible projects.
    • During the year ended December 31, 2024, the Bank made an additional $49 million of voluntary housing and community investment contributions. This consisted of $15 million of additional voluntary housing contributions to the Bank’s AHP Homeownership Set-aside Program, $8 million of additional voluntary housing contributions to the Bank’s AHP General Fund, $20 million of voluntary contributions to the Bank’s Workforce Housing Plus+ Program, and $6 million of voluntary contributions to the Bank’s Heirs’ Property Family Wealth Protection Fund.
    • In 2025, the Bank has voluntarily committed an additional five percent of its 2024 income before assessments, equal to $41 million, to further support the affordable housing and community development needs of its communities. This will result in a total commitment by the Bank to support affordable housing and community development needs of $118 million in 2025.
    • Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.
     
     
    Federal Home Loan Bank of Atlanta
    Financial Highlights
    (Preliminary and unaudited)
    (Dollars in millions)
     
        As of December 31,
    Statements of Condition  2024    2023
      Advances $         85,829       $         96,608    
      Investments           60,084                 54,207    
      Mortgage loans held for portfolio, net           89                 103    
      Total assets           147,091                 152,370    
      Total consolidated obligations, net           135,851                 141,572    
      Total capital stock           5,148                 5,597    
      Retained earnings           2,785                 2,524    
      Accumulated other comprehensive loss           —                 (5 )  
      Total capital           7,933                 8,116    
      Capital-to-assets ratio (GAAP)           5.39   %             5.33   %
      Capital-to-assets ratio (Regulatory)           5.39   %             5.33   %
        Three Months Ended December 31,   Years Ended December 31,
    Operating Results and Performance Ratios  2024    2023    2024    2023
      Net interest income $         250       $         241       $         966       $         889    
      Standby letters of credit fees           4                 4                 17                 10    
      Other income (loss)           2                 (1 )               6                 (5 )  
      Total noninterest expense (1)           61                 51                 215                 173    
      Affordable Housing Program assessment           19                 19                 77                 72    
      Net income           176                 174                 697                 649    
      Return on average assets           0.46   %             0.41   %             0.45   %             0.36   %
      Return on average equity           8.36   %             7.83   %             8.31   %             7.43   %
    __________
    (1) Total noninterest expense includes voluntary housing and community investment contributions of $16 million and $12 million for the three months ended December 31, 2024 and 2023, respectively, and $49 million and $19 million for the years ended December 31, 2024 and 2023, respectively.
       

    Additional financial information concerning the Bank’s results of operations for the most recently completed year ended December 31, 2024, will be available in the Bank’s Form 10-K that the Bank expects to file with the SEC on or about March 7, 2025 and will be available at www.fhlbatl.com and on www.sec.gov.

    About Federal Home Loan Bank of Atlanta

    FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System). Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

    For more information, visit our website at www.fhlbatl.com.

    To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; future economic, liquidity and market conditions (including in the housing market and banking industry); changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, climate, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; changes to the Bank’s voluntary housing program and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank’s results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

    The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements.

    CONTACT: Sheryl Touchton
    Federal Home Loan Bank of Atlanta
    stouchton@fhlbatl.com
    404.716.4296

    The MIL Network –

  • MIL-OSI: Commercial National Financial Corporation Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    ITHACA, Mich., Feb. 20, 2025 (GLOBE NEWSWIRE) — Commercial National Financial Corporation (Pink Sheets: CEFC) announced that the Board of Directors declared a regular quarterly cash dividend of 14 cents per share. The dividend is payable April 1, 2025 to shareholders of record on March 14, 2025.   Based on a recent closing price of $10.95 per share, the annualized dividend yield is 5.11%.

    Contact:
    Benjamin Ogle
    CFO
    (989) 875-5562

    The MIL Network –

  • MIL-OSI: Bitget’s CEO Gracy Chen Joins Consensus Hong Kong 2025

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 20, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company will be attending Consensus 2025, set to be held in Hong Kong, scheduled from February 18 to 20 at the Hong Kong Convention & Exhibition Centre. Consensus’ expansion into Hong Kong highlights Asia’s growth as a global powerhouse for Web3, with millions of crypto users, blockchain developers, and industry leaders. Serving as the most influential crypto event, Hong Kong sees itself strategically positioned as a pivotal digital assets hub, uniting East and West for pivotal conversations and plans that will define what’s next for the future of technology.

    Bitget CEO, Gracy Chen, will be a distinguished speaker at the event, sharing her insights on a panel titled ‘Beyond Trading: How Crypto is Shaping the Market‘ on the Mainstage on Wednesday, 19 February, at 2:30 PM HKT. Since assuming the role of CEO in May 2024, Gracy has been instrumental in driving Bitget’s global strategy, leading to a fourfold increase in the company’s user base and establishing strategic partnerships, including collaborations with big names like Lionel Messi and LALIGA. Her leadership has propelled Bitget into the ranks of the top global exchanges. 

    “One trend that I observed is the integration of centralized exchange and decentralized exchange. All of the strongest exchanges have put a lot of resources into building their DEX service, not just focusing on the CEX service. In 2024, we saw great growth in our DEX, Bitget Wallet, which hit 45 million users,” said Gracy Chen, CEO at Bitget. “For trash time in the market, it is the best time to be more focused on our own product and really create value for our targeted users and community. That’s probably how we survived in the last bear market.”

    On February 18th, Bitget held the BGB Builders Night, an exclusive event celebrating BGB’s all-time high. The event promises networking with fellow BGB holders, industry influencers, and project founders and was opened by Bitget CEO Gracy, who shed light on Bitget’s future developments. Attendees engaged with key members of the BGB and Bitget Wallet teams, participated in the ‘BGB Hunt’ for a chance to win $BGB, and exchanged ideas with Bitget CEO, Gracy. 

    Participation in Consensus Hong Kong 2025 shows Bitget’s dedication to creating a collaborative environment to drive innovation within the crypto community. This event will convene the industry’s brightest minds, serving as a launchpad for meaningful discussions, networking, and the forging of partnerships that will influence the trajectory of the digital asset landscape.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, users can contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, users can refer to the Terms of Use.

    Contact

    Simran Alphonso

    media@bitget.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/961f8995-8b0c-4f27-8793-17ca12645372

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c97f743b-d88d-41ef-b337-8668848a682b

    The MIL Network –

  • MIL-OSI: Highlander Silver Announces Upsize of Bought Deal Private Placement to C$28 Million

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Highlander Silver Corp. (CSE: HSLV; “Highlander Silver” or the “Company”) is pleased to announce that due to strong institutional investor demand, it has entered into an agreement with Ventum Financial Corp. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), to increase the size of the previously announced bought deal private placement from $25,000,080 to $28,000,000 (the “Offering”).

    Pursuant to the amended terms, the Offering will consist of 20,000,000 common shares (the “Shares”) of the Company at a price of $1.40 per Share (the “Offering Price”) for aggregate gross proceeds of $28,000,000, excluding any additional proceeds raised from the exercise of the Underwriters’ Option (defined below).

    The Company intends to use the net proceeds from the Offering to fund the advancement of exploration activities at the Company’s San Luis gold-silver project in Peru, as well as for working capital and general corporate purposes.

    The Company has agreed to grant the Underwriters an option (the “Underwriters’ Option”) which will allow the Underwriters to purchase up to an additional 15% of the Shares, on the same terms as the Offering. The Underwriters’ Option may be exercised in whole or in part up to 48 hours prior to the closing date of the Offering (as defined below).

    The Offering is scheduled to close on March 11, 2025 (the “Closing Date”), or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.

    The Shares (including any Shares issued pursuant to the Underwriters’ Option) will be offered on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws, in all provinces of Canada, except Québec, and will be subject to a statutory hold period of four months and one day from the Closing Date.

    This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    About Highlander Silver

    Highlander Silver is advancing a portfolio of silver exploration and development assets in the Americas, including the bonanza grade San Luis gold-silver project that is located adjacent to the Pierina mine in Central Peru. Highlander Silver is backed by the Augusta Group, which boasts an exceptional track record of value creation totaling over $4.5B in exit transactions, and supported by strategic shareholders, the Lundin Family and Eric Sprott. The Company is listed on the Canadian Securities Exchange (“CSE”) under the ticker symbol HSLV. Additional information about Highlander Silver and its mineral projects can be viewed on the Company’s SEDAR+ profile at (www.sedarplus.ca) and its website at www.highlandersilver.com.

    Neither the CSE nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this news release.

    For further information, please contact:

    Arun Lamba, Vice President Corporate Development
    Email: alamba@highlandersilver.com

    Cautionary Notes and Forward-looking Statements

    Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the Offering, including statements with respect to the completion of the Offering and the anticipated closing date thereof; the expected receipt of regulatory and other approvals relating to the Offering; participants in the Offering; the expected proceeds of the Offering and the anticipated use of the net proceeds therefrom; the future exploration plans of the Company, timing of future exploration, anticipated results of exploration and potential mineralization of the Company’s mineral projects. Such forward looking information or statements can be identified by the use of words such as “believes”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of precious and base metals, accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.

    Highlander Silver is advancing a portfolio of silver exploration and development assets in the Americas, including the bonanza grade San Luis gold-silver project that is located adjacent to the Pierina mine in Central Peru. Highlander Silver is backed by the Augusta Group, which boasts an exceptional track record of value creation totaling over $4.5B in exit transactions, and supported by strategic shareholders, the Lundin Family and Eric Sprott. The Company is listed on the Canadian Securities Exchange (“CSE”) under the ticker symbol HSLV. Additional information about Highlander Silver and its mineral projects can be viewed on the Company’s SEDAR+ profile at (www.sedarplus.ca) and its website at www.highlandersilver.com.

    The MIL Network –

  • MIL-OSI: Asure Introduces Luna, the Industry’s First AI Agent for Payroll & HR

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software and services, today announced the introduction of Luna, a groundbreaking AI Agent designed to enhance payroll and HR management. Unlike traditional generative AI chatbots, Luna is an advanced AI agent that understands Asure’s suite of products, serves as an industry expert, and most importantly, can take action on behalf of both employees through self-service and business owners and administrators. Luna enhances payroll and HR tasks, making them more seamless for businesses and their employees.

    “Luna is not just an AI chatbot that provides answers—she gets things done,” said Pat Goepel, Chairman and CEO of Asure. “With Luna, employees can simply ask for help, and she will take care of the rest—whether it’s updating personal details, changing benefits elections, or helping navigate changes in tax and labor laws. Luna makes payroll and HR frictionless.”

    Luna: AI That Works for You

    Employees often struggle with knowing what HR and payroll updates are necessary when life changes occur. Luna removes that complexity by guiding employees through key decisions and making the necessary changes for them.

    For example, if an employee gets married and needs to update their last name, address, and benefits elections, they may not know every detail that requires updating. Luna assists by guiding the employee through the necessary changes and helping facilitate updates across payroll and HR systems, reducing administrative burden and improving efficiency for both employees and employers.

    A Game-Changer for Businesses

    Luna is built to help businesses stay compliant with evolving regulations while reducing administrative burden. By empowering employees to handle their HR and payroll needs through simple voice or text commands, Luna minimizes the need for HR teams to process routine requests, allowing them to focus on strategic initiatives that drive business growth.

    “With Luna, we are introducing a new way to simplify payroll and HR, and we look forward to refining and expanding her functionality throughout 2025,” said Goepel. “She enhances the employee experience while helping businesses streamline operations, reduce compliance risks, and save time. It’s a win-win.”

    About Asure

    Asure (NASDAQ: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit www.asuresoftware.com. 

    Media Contact:
    Patrick McKillop
    Vice President, Investor Relations
    Asure
    patrick.mckillop@asuresoftware.com
    617-335-5058

    The MIL Network –

  • MIL-OSI: FBS Analysts Explore AI’s Growing Role in Trading

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — FBS, a leading global broker, has released an in-depth analysis of how artificial intelligence (AI) is reshaping the trading landscape. The report highlights AI’s growing role in improving efficiency, accuracy, and data-driven decision making. 

    AI Reshaping Trading Strategies

    According to FBS analysts, one of the most significant developments is the rise of AI-powered trading assistants. These tools process large volumes of real-time market data, identifying trends and patterns that may go unnoticed by traders. By leveraging AI-driven insights, traders can optimize their strategies and improve market timing. A 2024 market report shows that traders using AI-powered assistants improved their entry and exit point accuracy by 45% in highly volatile markets.

    AI-driven systems also enable real-time sentiment analysis by scanning financial news and social media to evaluate market dynamics. A global survey conducted by TradingTech Insights in 2024 found that 75% of retail traders utilizing AI-assisted analysis increased transaction accuracy by 50%.

    The Rise of AI in Algorithmic Trading

    FBS analysts note that AI is revolutionizing algorithmic trading by moving beyond traditional rule-based strategies. Unlike conventional automated trading systems, AI models dynamically adjust trading strategies by continuously analyzing historical and live market data. Bloomberg Intelligence estimates that AI-powered systems accounted for 68% of trade flow on major exchanges like NASDAQ and the London Stock Exchange in 2024.

    Predictive analytics, another key AI-driven innovation, allows traders to forecast market trends by analyzing price movements, sentiment indicators, and macroeconomic factors. According to a PwC study, hedge funds incorporating AI-driven predictive analytics achieved returns 23% higher than those relying solely on traditional models.

    FBS highlights that AI has significantly increased accessibility to advanced trading tools. Between 2020 and 2024, the number of retail traders using AI-powered platforms rose by 120%, enabling individual traders to access sophisticated analytics once reserved for institutional investors.

    As AI technology evolves, FBS has recently introduced the FBS AI Assistant, a next-generation tool designed to support traders in making informed decisions. The FBS AI Assistant simplifies complex data, transforming complicated chart patterns into clear, easy-to-read reports. By leveraging AI-driven insights, traders can validate their strategies, minimize human error, and make informed decisions faster.

    Users can stay ahead with AI-powered trading and explore the FBS AI Assistant. 

    To get full insights, readers can visit here.

    About FBS

    FBS is a global brand that unites several independent brokerage companies under the licenses of FSC (Belize), CySEC (Cyprus), and ASIC (Australia). With 16 years of experience and over 100 international awards, FBS is steadily developing as one of the market’s most trusted brokers. Today, FBS serves over 27 000 000 traders and more than 700 000 partners around the globe. 

    Disclaimer

    This material does not constitute a call to trade, trading advice, or recommendation and is intended for informational purposes only. 

    AI-generated analysis is not financial advice. Users must always conduct their own research before trading.

    Contact

    The FBS Press Office

    FBS

    press@fbs.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5282fa0-aefa-44eb-951f-52e3e4904b95

    The MIL Network –

  • MIL-OSI: Kajeet Launches Pilot of Kajeet Transit™

    Source: GlobeNewswire (MIL-OSI)

    MCLEAN, Va., Feb. 20, 2025 (GLOBE NEWSWIRE) — Kajeet, a leader in managed IoT connectivity solutions, has launched Kajeet Transit™, a rider engagement solution designed to enhance public transit experiences through secure rider Wi-Fi, digital signage, and targeted advertising opportunities. In collaboration with Long Beach Transit, the pilot program debuted across 25 buses in January 2025, delivering a new level of convenience, communication, and connectivity for passengers.

    Since the launch last month, over 2000 unique riders have logged into the system, demonstrating the solution’s ability to engage transit users effectively. Kajeet Transit empowers transit agencies with:

    • Rider Wi-Fi with Captive Portal – A secure, branded internet access point for passengers.
    • Passenger Information Display System – Dynamic visual communication channels for route-specific service updates, public announcements, and advertising.
    • Kajeet-Enabled Cellular Router – Secure, managed connectivity powered by Sentinel™, ensuring reliable performance.

    Beyond enhancing the rider experience, the solution drives revenue opportunities for transit agencies by enabling local and national advertising through Kajeet’s integrated advertising platform. The captive portal also supports direct rider engagement, allowing transit agencies to build active databases for ongoing communication.

    “Public transit is evolving, and riders expect seamless connectivity,” said Scott Langley, VP of Enterprise Sales at Kajeet. “With Kajeet Transit, we’re providing a turnkey platform that enhances both the rider experience and the transit agency’s ability to communicate effectively. The success of this pilot with Long Beach Transit underscores the impact of smart transit solutions.”

    Long Beach Transit is at the forefront of enhancing public transit through technology, leveraging the solution to improve communication with riders.

    According to Mike Gold, Executive Director/VP, Customer Relations and Communications at Long Beach Transit, “Kajeet and Long Beach Transit are collaborating to enhance the customer experience onboard our buses. The Kajeet Transit solution offers seamless connectivity for all customers, giving them another reason to ride the bus! The early results of the pilot show strong adoption and I am excited to expand the program.”

    As transit agencies nationwide seek innovative solutions to increase ridership and improve services, Kajeet’s technology provides a scalable, secure, and cost-effective way to modernize public transportation.

    For more information on Kajeet Transit, visit https://www.kajeet.com/industries/transportation

    About Kajeet

    Kajeet provides optimized IoT connectivity, software and hardware solutions that deliver safe, reliable, and controlled internet connectivity to nearly 3,000 businesses, schools and districts, state, and local governments. Kajeet’s private network solutions simplify private wireless to allow customers to design, install and manage their own private wireless networks. Kajeet’s award-winning management platform, Sentinel®, includes visibility into real-time data usage, policy control management, custom content filters for added security, and multi-network flexibility. To learn more, visit kajeet.com

    Media Contact: Linda Jennings, Director of Corporate Communications

    Phone: 248-521-3606

    Email: ljennings@kajeet.com

    A video accompanying this release is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/971f587c-f539-4c41-87c1-aa92fe003551

    The MIL Network –