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Category: GlobeNewswire

  • MIL-OSI: Thomasville Bancshares, Inc. Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    THOMASVILLE, Ga., Oct. 28, 2024 (GLOBE NEWSWIRE) — Thomasville Bancshares, Inc. (OTC PINK: THVB), the parent company of Thomasville National Bank and TNB Financial Services, today announced financial results for the quarter ended September 30, 2024.

    Third Quarter 2024 Highlights

    • Net Income for the quarter of $9,386,870 compared to $8,467,575 for the same period last year, an increase of 11%.
    • YTD Net Income of $28,950,864 compared to $26,162,967 for the same period in 2023, an increase of 11%.
    • Earnings per share for the first nine months were $4.53 (basic) and $4.36 (diluted).
    • YTD Return on Average Assets of 2.21% and Return on Average Tangible Equity of 24.28%.
    • Total Assets of $1.816 billion, an increase of $241 million over the same period in 2023.
    • Loans grew to $1.514 billion, an increase of $150 million or 11% year-over-year.
    • Deposits grew to $1.573 billion, an increase of $220 million or 16% year-over-year.
    • Regulatory Capital was $167 million or 9.26% of assets. During the third quarter the company paid a $6.9 million cash dividend ($1.05 per share).
    • TNB Financial, provider of trust and investment services, now has client assets over $4.7 billion.

    Stephen H. Cheney, Chairman and CEO, said “We are pleased to report our strong financial performance for the third quarter ended September 30, 2024. We believe that our Bank is well positioned to continue this strong performance through the remainder of 2024 and beyond.”

    About Thomasville Bancshares, Inc., and Thomasville National Bank

    Thomasville Bancshares, Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today the Bank has total assets of over $1.8 billion. TNB was the #1 ranked bank in Georgia in overall performance (2023 GBA Bank Performance Report) and was recently recognized by American Banker magazine as one of the Top 200 Community Banks in the country, ranked 7th in the nation based upon three years average return on shareholders’ equity. The Bank’s trust and investment division, TNB Financial Services, has client assets over $4.7 billion under advisement and provides financial planning, investments, trust, brokerage, and other related financial services. TNBFS has offices located in Georgia, Florida, South Carolina, Illinois, and Ohio. The Company is headquartered in Thomasville, Georgia and has over 800 local shareholders. Thomasville National Bank is Member FDIC and an Equal Housing Lender. For more information, visit online at www.tnbank.com. 

    The MIL Network –

  • MIL-OSI: Form 8.3 – [ECKOH PLC – 25 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ECKOH PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 25 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 20,172,436 6.9424    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 20,172,436 6.9424    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    10p ORDINARY SALE 280,730 41.375p
    10p ORDINARY SALE 14,345 42.05p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 25 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 25 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 10,006,374 1.2632    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 10,006,374 1.2632    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY SALE 9,000 92.2p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: RegEd Advances its Market-Leading Compliance and Registration Management Solutions to Ensure the Industry’s Seamless Transition to FINRA’s New API Platform

    Source: GlobeNewswire (MIL-OSI)

    Raleigh, NC, Oct. 28, 2024 (GLOBE NEWSWIRE) — RegEd, the leading provider of compliance and RegTech solutions for the financial services industry, today announced significant enhancements to its industry-leading suite of compliance and registration management solutions. These advancements will enable firms to transition without disruption to FINRA’s new API platform ahead of the sunset of its Web EFT application on April 30, 2025, while realizing additional efficiency and effectiveness across a range of critical rep compliance processes.

    As FINRA’s largest customer and the highest volume filer on Web EFT, RegEd has partnered directly with FINRA to develop an innovative and robust technology solution in preparation for the change. The enhanced solutions will integrate directly with FINRA’s API platform and deliver significant value to RegEd’s more than 550 securities clients, who represent a majority of registered representatives in the financial services industry. As the most widely adopted compliance and registration management solution provider, trusted by an unparalleled client base of leading firms, RegEd will again set the course for the industry at large with this latest innovation.

    “RegEd’s commitment to innovation and client success over more than 20 years is exemplified by our proactive approach to regulatory and industry changes like FINRA’s API transition,” said Frank Brienzi, CEO of RegEd. “The enhancements to our platform ensure that our clients can navigate this change smoothly, efficiently and with the utmost confidence in our ability to guide them through uncertainty.”

    Real-time and near real-time FINRA processing on the RegEd platform represents a major step forward in compliance and registration management, ensuring that firms can maintain compliance with the latest regulatory requirements while further optimizing operational efficiency.

    “These advancements will result in near immediate FINRA data processing, which will deliver substantial additional value across RegEd’s suite of solutions, the breadth of which is unmatched in our industry” said Ethan Floyd, Chief Product Officer of RegEd. “This will drive new levels of efficiency in Xchange Registration Management, Outside Business Activities, FINRA Registration Profiles, Annual Renewals, and several other RegEd modules, to amplify the return on investment for our clients in the securities business.”

    For more information about RegEd and its enhanced compliance and registration management solutions, please visit www.RegEd.com.

    About RegEd

    RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

    Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

    Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

    The MIL Network –

  • MIL-OSI: Correction to the Stock Exchange Release: QPR Software Plc’s Financial Reporting in 2025

    Source: GlobeNewswire (MIL-OSI)

    QPR SOFTWARE PLC        STOCK EXCHANGE RELEASE         October 28, 2024, at 6:00 p.m. EET

    Correction to the stock exchange release: On Friday, October 25, 2024, QPR Software Plc published a release regarding the financial calendar for 2025, which included the planned publication dates for financial reports. Both the Finnish and English versions of the release contained an error in the weekday for the annual report publication. The corrected release is provided in full below.

    In this stock exchange release, QPR Software Plc presents its financial calendar for 2025, including the planned publication dates for financial reports.

    QPR will publish three interim reports in 2025:

    • Interim Report for January–March 2025 on Thursday, April 24, 2025
    • Half-year Financial Report for January–June 2025 on Friday, July 18, 2025
    • Interim Report for January–September 2025 on Friday, October 31, 2025

    QPR Software’s financial statement bulletin, activity report, audit report, and report on the corporate governance system for the financial year 2024 will be published on Friday, February 14, 2025.

    The annual report for 2024 will be published on Thursday, April 3, 2025.

    QPR’s Annual General Meeting for 2025 is planned to be held on Wednesday, June 18, 2025. The Board of Directors convenes the Annual General Meeting with a invitation to be published later.

    For further information:

    Heikki Veijola

    Chief Executive Officer

    QPR Software Plc

    Tel. +358 40 922 6029

    QPR Software in Brief

    QPR Software (Nasdaq Helsinki) is a leading player in the Digital Twin of an Organization (DTO) use case and one of the most advanced process mining software companies in the world. The company innovates, develops, and delivers software for analyzing, monitoring, and modeling organizational operations. Additionally, QPR provides consulting services to ensure its customers derive full benefits from the software and associated methodologies.

    www.qpr.com

    DISTRIBUTION

    Nasdaq Helsinki

    Key medias

    www.qpr.com

    The MIL Network –

  • MIL-OSI: GraniteShares Announces Reverse Split of NVD

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — GraniteShares has announced it will execute a reverse share split for one of its ETFs. The total market value of the shares outstanding will not be affected as a result of the transaction.

    Reverse split will be executed on GraniteShares 2x Short NVDA Daily ETF.

    After the close of the markets on November 01, 2024 (the “Payable Date”), the Fund will effect a reverse split of its issued and outstanding shares as follows:

    Please note the CUSIP change, effective November 04, 2024:

    As a result of the reverse split, every twenty-five shares of the Fund will be exchanged for one share of the Fund. Accordingly, the total number of the issued and outstanding shares for the Fund will decrease by the approximate percentage indicated above. In addition, the per share net asset value (“NAV”) and next day’s opening market price will be approximately twenty-five-times higher for the Fund. Shares of the Fund will begin trading on the NASDAQ Stock Market. (the “NASDAQ”) on a split-adjusted basis on November 04, 2024.

    The next day’s opening market value of the Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical one-for- twenty-five reverse split anticipated for the Fund:

    1-for-25 Reverse Split 

    Period # of Shares Owned Hypothetical NAV Total Market Value
    Pre-Reverse Split 1,000 $ 1 $ 1,000
    Post-Reverse Split 40 $ 25 $ 1,000

    Redemption of Fractional Shares and Tax Consequences of the Reverse Split

    As a result of the reverse split, a shareholder of the Fund’s shares potentially could hold a fractional share. However, fractional shares cannot trade on the NASDAQ. Thus, the Fund will redeem for cash a shareholder’s fractional shares at the Fund’s split-adjusted NAV as of the Effective Date. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.

    The GraniteShares ETF Trust’s transfer agent will notify the Depository Trust Company (“DTC”) of the reverse split and instruct DTC to adjust each shareholder’s investment(s) accordingly. DTC is the registered owner of the Fund’s shares and maintains a record of the Fund’s record owners.

    All GraniteShares leveraged and inverse ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee these ETFs will meet their objective.

    About GraniteShares

    GraniteShares is an independent ETF issuer headquartered in New York City.

    GraniteShares current ETF offering is presented below:

    ETF NAME   TICKER     UNDERLYING STOCK   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares 2x Long AAPL Daily ETF     AAPB     Apple Inc.     0.99%/1.15 %
    GraniteShares 2x Long AMD Daily ETF     AMDL     Advanced Micro Devices, Inc.     0.99%/1.15 %
    GraniteShares 1x Short AMD Daily ETF     AMDS     Advanced Micro Devices, Inc.     0.99%/1.15 %
    GraniteShares 2x Long AMZN Daily ETF     AMZZ     Amazon.com, Inc.     0.99%/1.15 %
    GraniteShares 2x Long BABA Daily ETF     BABX     Alibaba Group Holding Limited     0.99%/1.15 %
    GraniteShares 2x Long COIN Daily ETF     CONL     Coinbase Global Inc     0.99%/1.15 %
    GraniteShares 1x Short COIN Daily ETF     CONI     Coinbase Global Inc     1.30%/1.50 %
    GraniteShares 2x Long META Daily ETF     FBL     Meta Platforms Inc     0.99%/1.15 %
    GraniteShares 2x Long MSFT Daily ETF     MSFL     Microsoft Corp     0.99%/1.15 %
    GraniteShares 2x Long NVDA Daily ETF     NVDL     Nvidia Corporation     0.99%/1.15 %
    GraniteShares 2x Short NVDA Daily ETF     NVD     Nvidia Corporation     1.30%/1.50 %
    GraniteShares 2x Long PLTR Daily ETF     PTIR     Palantir technologies Inc     0.99%/1.15 %
    GraniteShares 1.25x Long TSLA Daily ETF     TSL     Tesla Inc     0.99%/1.15 %
    GraniteShares 2x Long TSLA Daily ETF     TSLR     Tesla Inc     0.95%/0.95 %
    GraniteShares 2x Short TSLA Daily ETF     TSDD     Tesla Inc     0.95%/0.95 %
    GraniteShares 2x Long UBER Daily ETF     UBRL     Uber Technologies Inc     0.99%/1.15 %
    ETF NAME   TICKER     EXPOSURE   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares Gold Trust     BAR     Gold     0.17 %
    GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF     COMB     Broad Commodities     0.25 %
    GraniteShares HIPS US High Income ETF     HIPS     High Income     0.70%/1.99 %
    GraniteShares Platinum Trust     PLTM     Platinum     0.50 %
    GraniteShares Nasdaq Select Disruptors ETF     DRUP     U.S. Large Cap     0.60 %

    Gregory FCA for GraniteShares
    Kathleen Elicker, 484-889-6597
    graniteshares@gregoryfca.com

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

    The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.

    PRINCIPAL FUND RISKS (see the Prospectus for more information)

    GraniteShares Leveraged Long and Inverse Daily ETFs are not suitable for all investors. The funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the fund magnifies the performance of the underlying security. The volatility of the underlying security may affect the fund return as much as, or more than, the return of the underlying security. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments, should not buy the Funds. The Funds are designed to be utilized only by traders and sophisticated investors who understand the potential consequences of seeking daily inverse and/or leveraged investment results, understand the risks associated with the use of leverage and/or short sales and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Funds will lose money even if the underlying stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Funds track the price of a single stock rather than an index, eliminating the benefits of diversification that most mutual funds and exchange-traded funds offer. Although the Funds will be listed and traded on an exchange, an investment in a Fund may not be suitable for every investor. The Funds pose risks that are unique and complex.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

    THE FUNDS ARE DISTRIBUTED BY ALPS DISTRIBIUTORS, INC. GRANITESHRES IS NOT AFFILIATED WITH ALPS DISTRIBUTORS, INC

    The MIL Network –

  • MIL-OSI: Rising Star: Kommunitas Takes Home Emerging Launchpad of the Year Award

    Source: GlobeNewswire (MIL-OSI)

    JAKARTA, Indonesia, Oct. 28, 2024 (GLOBE NEWSWIRE) —  Kommunitas, a decentralized launchpad renowned for its focus on fairness and transparency, has been awarded the Emerging Launchpad of the Year at the India Blockchain Summit 2024. This recognition highlights Kommunitas’ innovative efforts in supporting early-stage blockchain projects, providing a trusted and inclusive environment for decentralized finance (DeFi) development.

    In 2024, Kommunitas made significant strides, supporting a wide range of blockchain projects through its decentralized launchpad. The platform has gained trust within the industry by focusing on inclusivity, transparency, and creating equal opportunities for both large and small investors alike. The India Blockchain Summit, which drew over 5,000 attendees, recognized these contributions, positioning Kommunitas as a leader in the decentralized finance movement.

    While Robby Jeo, CEO of Kommunitas, was unable to attend the event, Ashish Kumar Jain, Chief Information Officer (CIO) of Kommunitas, stepped in to accept the award on his behalf. Jain expressed the company’s appreciation for the recognition, noting the team’s collective dedication to driving blockchain innovation and fostering a transparent, community-driven ecosystem.

    Despite being unable to attend the event in person, Robby Jeo, CEO of Kommunitas, shared his thoughts on the recognition:

    “We are deeply honored to receive the Emerging Launchpad of the Year award. This achievement reflects the dedication and hard work of our entire team, along with the steadfast support of our community. I would like to offer my sincere thanks to the India Blockchain Summit organizers and everyone who has been part of our journey. We are excited to continue shaping the future of decentralized finance, empowering both projects and investors moving forward.”

    The Emerging Launchpad of the Year award positions Kommunitas as a key player in the blockchain and DeFi space, with significant innovations on the horizon that are expected to transform how decentralized projects are launched. As the platform continues to evolve, it remains focused on fostering inclusivity, transparency, and providing opportunities for blockchain projects and investors alike.

    About Kommunitas
    Kommunitas is a decentralized blockchain launchpad that connects blockchain projects with global investors through a fair, transparent, and inclusive platform. As a leader in decentralized finance, Kommunitas provides accessible solutions that empower both startups and investors in the growing blockchain ecosystem.

    Contact Information:
    Robby Jeo, CEO
    Email: bizdev@kommunitas.net
    Website: www.kommunitas.net

    Disclaimer: This content is provided by “kommunitas”. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e80a97c9-4884-496a-b00b-9c4bdb9a9603

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fcb2f6a6-da21-4307-bce4-e7aee769f77a

    The MIL Network –

  • MIL-OSI: Rubis: Transactions carried out within the framework of the share buyback programme (excluding transactions within the liquidity agreement) – 21 to 25 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Paris, 28 October 2024, 06:00pm
      

    Issuer Name: Rubis (LEI: 969500MGFIKUGLTC9742)
    Category of securities: Ordinary shares (ISIN: FR0013269123)
    Period: From 21 to 25 October 2024

    In accordance with the authorisation granted by the Ordinary Shareholders’ Meeting held on 11 June 2024 to implement a share buyback programme, the Company operated, between 21 and 25 October 2024, the purchases of its own shares in view of their cancelation presented below.

    Aggregate presentation per day and per market

    Name of issuer Identification code of issuer (Legal Entity Identifier) Day of transaction Identification code of financial instrument Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares * Market (MIC Code)
    RUBIS 969500MGFIKUGLTC9742 21/10/2024 FR0013269123 1,926 24.8716 AQEU
    RUBIS 969500MGFIKUGLTC9742 21/10/2024 FR0013269123 18,222 25.0016 CEUX
    RUBIS 969500MGFIKUGLTC9742 21/10/2024 FR0013269123 236 24.9000 TQEX
    RUBIS 969500MGFIKUGLTC9742 21/10/2024 FR0013269123 32,134 25.0057 XPAR
    RUBIS 969500MGFIKUGLTC9742 22/10/2024 FR0013269123 1,934 24.9800 AQEU
    RUBIS 969500MGFIKUGLTC9742 22/10/2024 FR0013269123 17,445 24.7951 CEUX
    RUBIS 969500MGFIKUGLTC9742 22/10/2024 FR0013269123 2,082 24.9595 TQEX
    RUBIS 969500MGFIKUGLTC9742 22/10/2024 FR0013269123 32,115 24.8554 XPAR
    RUBIS 969500MGFIKUGLTC9742 23/10/2024 FR0013269123 2,000 24.8600 AQEU
    RUBIS 969500MGFIKUGLTC9742 23/10/2024 FR0013269123 19,645 24.8445 CEUX
    RUBIS 969500MGFIKUGLTC9742 23/10/2024 FR0013269123 2,185 24.8602 TQEX
    RUBIS 969500MGFIKUGLTC9742 23/10/2024 FR0013269123 35,343 24.8299 XPAR
    RUBIS 969500MGFIKUGLTC9742 24/10/2024 FR0013269123 2,000 24.9800 AQEU
    RUBIS 969500MGFIKUGLTC9742 24/10/2024 FR0013269123 18,500 25.0168 CEUX
    RUBIS 969500MGFIKUGLTC9742 24/10/2024 FR0013269123 2,000 24.9800 TQEX
    RUBIS 969500MGFIKUGLTC9742 24/10/2024 FR0013269123 36,000 25.0313 XPAR
    RUBIS 969500MGFIKUGLTC9742 25/10/2024 FR0013269123 2,000 24.9800 AQEU
    RUBIS 969500MGFIKUGLTC9742 25/10/2024 FR0013269123 19,000 24.8760 CEUX
    RUBIS 969500MGFIKUGLTC9742 25/10/2024 FR0013269123 3,000 24.9200 TQEX
    RUBIS 969500MGFIKUGLTC9742 25/10/2024 FR0013269123 28,469 24.9479 XPAR
    * Four-digit rounding after the decimal TOTAL 276,236 24.9247  

    Detailed presentation per transaction

    Detailed information on the transactions carried out from 21 to 25 October 2024 is available on the Company’s website (www.rubis.fr) in the section “Investors – Regulated information – Share buyback programme”.

      Contact
      RUBIS – Legal Department
      Tel. : + 33 (0)1 44 17 95 95

    Attachment

    The MIL Network –

  • MIL-OSI: StoneX Expands with IIBX Membership, New Offices in Pune and Bengaluru, India

    Source: GlobeNewswire (MIL-OSI)

    BENGALURU, India, Oct. 28, 2024 (GLOBE NEWSWIRE) — StoneX Group Inc., a Nasdaq-listed Fortune 100 financial services firm, has announced the opening of its new offices in Pune and Bengaluru, with a collective capacity of 800 seats. This marks a significant expansion of its operations in India, and is part of StoneX’s strategy to leverage India’s deep talent pool.

    Since establishing its Global Capability Centre in India in 2019, StoneX has experienced remarkable growth, and now employs over 550 staff in-country, contributing to its global workforce of more than 4,300 employees.

    Greg Kallinikos, APAC CEO, StoneX, emphasised India’s pivotal role in the Group’s technological advancements. “India has consistently been at the forefront of technological innovation across various sectors, making it a natural choice for expanding our technology and support operations. The robust talent pool in the financial services sector has been another point of attraction in establishing our Global Capability Centres in Bangalore and Pune“, Kallinikos stated.

    Abbey Perkins, Chief Information Officer, StoneX, reiterated the company’s commitment to the Indian market. “This is a growing firm. We are a hiring firm, and our commitment to this market is strong“, Perkins said.

    Manu Dhir, General Manager, StoneX India, highlighted the company’s journey and future aspirations. “We started in India with one technology team for our Global Payments business, and have now matured into a cross-functional Global Capability Centre. We have been growing rapidly in terms of headcount numbers: almost 40% year-on-year. We offer substantial career growth opportunities, including leadership roles to our employees, and are also focused on recruiting top talent from local universities“, Dhir explained.

    GIFT City
    In addition to strengthening its Global Capability Centre presence in India, StoneX has established an office in GIFT City (Gujarat International Finance Tec-City) to facilitate trading in precious metals. StoneX successfully commenced operations in June 2024, trading in precious metals on the IIBX (India International Bullion Exchange), becoming the first international entity to be a trading and self-clearing member on IIBX.

    About StoneX Group Inc.:
    StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service and deep expertise. The company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune 100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its 4,300+ employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 retail accounts, from more than 80 offices spread across six continents.

    For more information please contact:
    Manu Dhir, General Manager, SNEX Technology Services Private Limited
    Manu.dhir@stonex.com
    www.stonex.com
    NASDAQ: SNEX

    The MIL Network –

  • MIL-OSI: Fresche Solutions Introduces AI-Celerate to Power the IBM i Community on Their Enterprise AI Journeys

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 28, 2024 (GLOBE NEWSWIRE) — Fresche Solutions (“Fresche”, “Company”), a global leader in IBM i management and modernization, proudly introduces AI-Celerate, a 12-week strategic advisory framework to enable organizations to design an enterprise AI technology roadmap tailored for IBM i systems and beyond.

    This groundbreaking advisory service propels business transformation through the strategic adoption of artificial intelligence. AI-Celerate centers on personalized AI assessments, strategies, and roadmaps that resonate with each organization’s unique needs and digital ambitions.

    “AI has become a transformative force, and many businesses strive to integrate it effectively and measure ROI,” stated Joe Zarrehparvar, CEO of Fresche Solutions. “With experience serving over 2500 customers globally, our team at Fresche understands the market dynamics and challenges IBM i organizations face in adopting AI into their business processes. AI thrives on data and IBM i environments provide exactly that – rich, historical data that help drive meaningful AI initiatives. We’ve already seen considerable engagement from our customers on how to strategically use their IBM i’s vast data to power their AI engine. AI-Celerate guides executives through AI adoption complexities, prioritizing alignment with each customer’s unique technology roadmap and digital transformation goals. I am confident this momentum will continue to grow,” added Zarrehparvar.

    “IBM i serves as a robust and versatile foundation for AI applications, offering unmatched stability and flexibility for integration. While consistent, high-quality data is essential for AI success. IBM i’s architecture provides the reliability and security needed to maintain data integrity and ensure businesses can confidently scale AI initiatives,” said Monica Sanchez, VP, Strategic Transformation, Fresche Solutions. “This combination of advanced data handling, security, and performance positions AI and IBM i as a powerful pairing that can transform how businesses operate, compete, and innovate,” stated Sanchez.

    AI-Celerate is a proprietary strategic advisory framework for Enterprise AI, from discovery and business case to adoption of a technology roadmap. It empowers informed decision-making and ensures successful AI integration to pave the way for future growth.

    On November 19th, the Company is set to introduce AI-Celerate with a live webinar featuring Chris Koppe, SVP, Strategic Advisory Services and Monica Sanchez, VP, Strategic Transformation. Register here to save your seat and be part of this exclusive session.

    For a deep dive on how to accelerate your organization’s Enterprise AI journey, don’t miss our white paper, Enterprise AI for IBM i: Craft an AI Transformation Strategy for Growth.

    ABOUT FRESCHE SOLUTIONS 
    Pioneers in IT modernization, Fresche manages, modernizes, and maximizes the value of IBM i business critical systems. Our winning IP and proven solutions in Modernization, Cloud, Software and Application Services, and Strategy have earned the trust of global leaders from 2500+ companies. Transform your IT challenges into future growth and innovation with Fresche Solutions. Learn more at www.freschesolutions.com.

    Media Contact:  
    Aneta Ranstoller 
    VP, Marketing 
    Fresche Solutions Inc. 
    aneta.ranstoller@freschesolutions.com 
    +1 800 361 6782 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87800e5d-241a-4405-acb4-0a14645dc66e

    The MIL Network –

  • MIL-OSI: Skyward Specialty Announces Time Change for Third Quarter Earnings Call on Wednesday, October 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) (“Skyward Specialty” or “the Company”) today announced a time change of its previously announced third quarter earnings call. The conference call and webcast will still be held on Wednesday, October 30, but will now begin at 9:30 a.m. EDT, rather than the previously scheduled time of 8:30 a.m EDT.

    As previously communicated, Skyward Specialty will issue its third quarter 2024 earnings results after the market closes on Tuesday, October 29. The earnings results will be available on the Company website at investors.skywardinsurance.com/ under Quarterly Results.

    Investors may access the live audio webcast via the link on the Company’s investor site at investors.skywardinsurance.com/ under Events & Presentations. Additionally, investors can access the earnings call via conference call by registering via the conference link. Users will receive dial-in information and a unique PIN to join the call upon registering.

    A webcast replay will be available two hours following the call in the same location on the Company’s investor website.

    About Skyward Specialty

    Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions — Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.

    Skyward Specialty’s subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A (Excellent) with a stable outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.

    For investor relations information contact:

    Natalie Schoolcraft
    nschoolcraft@skywardinsurance.com
    614-494-4988

    The MIL Network –

  • MIL-OSI: Coface SA: Fitch affirms Coface AA- rating, with ‘stable’ outlook

    Source: GlobeNewswire (MIL-OSI)

    Fitch affirms Coface AA- rating, with ‘stable’ outlook

    Paris, 28 October 2024 – 18.45

    The rating agency Fitch affirmed today Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.

    Fitch has also affirmed Coface SA’s Long-Term Issuer Default Rating (IDR) at ‘A+’, with a stable outlook.

    The rating action reflects “Coface’s very strong company profile and capitalisation, as well as a strong profitability through the cycle”. The stable outlook reflects Fitch’s view that “Coface continues to maintain sufficient rating headroom to withstand weaker macro-economic conditions and rising corporate default risk over the next 12-24 months”.

    In Fitch’s press release, the rating agency recognises Coface’s “very strong, well established and geographically diversified franchise in the global trade credit insurance sector”. Fitch highlights also that “factoring, information services and other fee-based activities enhance Coface’s business diversification”.

    Fitch views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.

    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

    2024 FINANCIAL CALENDAR
    9M-2024 results: 5 November 2024 (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 recognised 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 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion.

    www.coface.com

    COFACE SA is quoted in Compartment A of Euronext Paris
    Code ISIN: FR0010667147 / Mnémonique: 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 2022 Universal Registration Document filed with AMF on 6 April 2023 under the number D.23-0244 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: Orezone Provides Notice of Q3-2024 Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone”) will announce its third quarter 2024 results on November 5, 2024, after market close. A conference call and audio webcast to discuss the results will take place on November 6, 2024, at 8:00 am PT (11:00 am ET).

    Webcast

    Conference Call
    Toll-free in U.S. and Canada: 1-800-715-9871
    International callers: +646-307-1963
    Event ID: 9776163

    About Orezone Gold Corporation

    Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

    The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

    Patrick Downey
    President and Chief Executive Officer

    Vanessa Pickering
    Manager, Investor Relations

    Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945 8977 or visit the Company’s website at www.orezone.com.

    The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

    The MIL Network –

  • MIL-OSI: NorthEast Community Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024 compared to net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023. In addition, the Company generated net income of $36.9 million, or $2.81 per basic share and $2.78 per diluted share, for the nine months ended September 30, 2024 compared to net income of $34.2 million, or $2.42 per basic share and $2.41 per diluted share, for the nine months ended September 30, 2023.

    Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report another quarter of strong earnings due to the strong performance of our loan portfolio.   Despite the challenging high interest rate environment during 2023 that continued into most of 2024, offset by a reduction in interest rates towards the end of the third quarter of 2024, loan demand remained strong with originations and outstanding commitments remaining robust. As has been in the past, construction lending in high demand-high absorption areas continues to be our focus.”

    Highlights for the three months and nine months ended September 30, 2024 are as follows:

    • Performance metrics continue to be strong with a return on average total assets ratio of 2.62%, a return on average shareholders’ equity ratio of 16.48%, and an efficiency ratio of 36.04% for the three months ended September 30, 2024. For the nine months ended September 30, 2024, the Company generated a return on average total assets ratio of 2.61%, a return on average shareholders’ equity ratio of 16.55%, and an efficiency ratio of 36.37%.
    • Net interest income increased by $1.2 million and $5.5 million, or 4.6% and 7.7%, respectively, for the three months and nine months ended September 30, 2024 compared to the same periods in 2023.
    • Our commitments, loans-in-process, and standby letters of credit outstanding totaled $659.0 million at September 30, 2024 compared to $719.6 million at December 31, 2023.

    Balance Sheet Summary

    Total assets increased $203.8 million, or 11.6%, to $2.0 billion at September 30, 2024, from $1.8 billion at December 31, 2023. The increase in assets was primarily due to an increase in net loans of $173.6 million and an increase in cash and cash equivalents of $29.1 million.

    Cash and cash equivalents increased $29.1 million, or 42.4%, to $97.8 million at September 30, 2024 from $68.7 million at December 31, 2023. The increase in cash and cash equivalents was a result of an increase in deposits of $228.0 million, partially offset by a decrease in borrowings of $57.0 million, an increase of $173.6 million in net loans, and stock repurchases of $2.4 million.

    Equity securities increased $2.4 million, or 13.5%, to $20.5 million at September 30, 2024 from $18.1 million at December 31, 2023. The increase in equity securities was attributable to the purchase of $2.0 million in equity securities during the third quarter of 2024 and market appreciation of $445,000 due to market interest rate volatility during the nine months ended September 30, 2024.

    Securities held-to-maturity decreased $799,000, or 5.0%, to $15.1 million at September 30, 2024 from $15.9 million at December 31, 2023 due to $810,000 in maturities and pay-downs of various investment securities, partially offset by a decrease of $10,000 in the allowance for credit losses for held-to-maturity securities.

    Loans, net of the allowance for credit losses, increased $173.6 million, or 11.0%, to $1.8 billion at September 30, 2024 from $1.6 billion at December 31, 2023. The increase in loans, net of the allowance for credit losses, was primarily due to loan originations of $569.2 million during the nine months ended September 30, 2024, consisting primarily of $499.7 million in construction loans with respect to which approximately 34.1% of the funds were disbursed at loan closings, with the remaining funds to be disbursed over the terms of the construction loans. In addition, during the nine months ended September 30, 2024, we originated $44.7 million in commercial and industrial loans, $14.0 million in non-residential loans, $4.2 million in multi-family loans, and $600,000 in mixed-use loans.

    Loan originations during the nine months ended September 30, 2024 resulted in a net increase of $148.8 million in construction loans, $14.4 million in commercial and industrial loans, $9.2 million in non-residential loans, $3.6 million in multi-family loans, and $788,000 in consumer loans. The increase in our loan portfolio was partially offset by decreases of $1.7 million in residential loans and $1.2 million in mixed-use loans, coupled with normal pay-downs and principal reductions.

    The allowance for credit losses related to loans decreased to $4.8 million as of September 30, 2024 from $5.1 million as of December 31, 2023. The decrease in the allowance for credit losses related to loans was due to a credit to the provision for credit losses totaling $145,000 and charge-offs of $115,000.  

    Premises and equipment decreased $507,000, or 2.0%, to $24.9 million at September 30, 2024 from $25.5 million at December 31, 2023 primarily due to the depreciation of fixed assets.

    Investments in Federal Home Loan Bank stock decreased $217,000, or 23.4%, to $712,000 at September 30, 2024 from $929,000 at December 31, 2023. The decrease was due primarily to the mandatory redemption of Federal Home Loan Bank stock totaling $315,000 in connection with the maturity of $7.0 million in advances in 2024, offset by purchases of Federal Home Loan Bank stock totaling $98,000 due to the growth of our mortgage loan portfolio.

    Bank owned life insurance (“BOLI”) increased $486,000, or 1.9%, to $25.6 million at September 30, 2024 from $25.1 million at December 31, 2023 due to increases in the BOLI cash value.

    Accrued interest receivable increased $1.2 million, or 9.4%, to $13.5 million at September 30, 2024 from $12.3 million at December 31, 2023 due to an increase in the loan portfolio.

    Real estate owned decreased $478,000, or 32.8%, to $978,000 at September 30, 2024 from $1.5 million at December 31, 2023 due to a charge-off of $478,000 resulting from a decrease in the estimated fair value of the foreclosed property.

    Right of use assets — operating decreased $422,000, or 9.2%, to $4.1 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

    Other assets decreased $548,000, or 6.8%, to $7.5 million at September 30, 2024 from $8.0 million at December 31, 2023 due to decreases in tax assets of $671,000, prepaid expenses of $56,000, miscellaneous assets of $4,000, and securities receivables of $1,000, partially offset by increase in suspense accounts of $184,000.

    Total deposits increased $228.0 million, or 16.3%, to $1.6 billion at September 30, 2024 from $1.4 billion at December 31, 2023. The increase in deposits was primarily due to the Bank offering competitive interest rates to attract deposits. This resulted in a shift in deposits whereby certificates of deposit increased $230.5 million, or 30.3%, and NOW/money market accounts increased $83.5 million, or 57.4%, partially offset by decreases in savings account balances of $53.4 million, or 27.7%, and non-interest bearing demand deposits of $32.6 million, or 10.9%.

    Federal Home Loan Bank advances decreased $7.0 million, or 50.0%, to $7.0 million at September 30, 2024 from $14.0 million at December 31, 2023 due to the maturity of borrowings in 2024. Federal Reserve Bank borrowings of $50.0 million at December 31, 2023 were paid-off during the nine months ended September 30, 2024.

    Advance payments by borrowers for taxes and insurance increased $442,000, or 21.9%, to $2.5 million at September 30, 2024 from $2.0 million at December 31, 2023 due primarily to accumulation of real estate tax payments by borrowers.

    Lease liability – operating decreased $384,000, or 8.3%, to $4.2 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

    Accounts payable and accrued expenses increased $2.4 million, or 17.8%, to $16.0 million at September 30, 2024 from $13.6 million at December 31, 2023 due primarily to increases in dividends payable of $3.2 million and deferred compensation of $395,000, partially offset by a decrease in accrued expense of $810,000. The allowance for credit losses for off-balance sheet commitments decreased $130,000, or 12.5%, to $908,000 at September 30, 2024 from $1.0 million at December 31, 2023.

    Stockholders’ equity increased $30.3 million, or 10.8% to $309.6 million at September 30, 2024, from $279.3 million at December 31, 2023. The increase in stockholders’ equity was due to net income of $36.9 million for the nine months ended September 30, 2024, the amortization expense of $1.4 million relating to restricted stock and stock options granted under the Company’s 2022 Equity Incentive Plan, a reduction of $652,000 in unearned employee stock ownership plan shares coupled with an increase of $532,000 in earned employee stock ownership plan shares, an exercise of stock options totaling $14,000, and $10,000 in other comprehensive income, partially offset by stock repurchases totaling $2.5 million and dividends paid and declared of $6.7 million.

    Results of Operations for the Three Months Ended September 30, 2024 and 2023

    Net Interest Income

    Net interest income was $26.3 million for the three months ended September 30, 2024, as compared to $25.1 million for the three months ended September 30, 2023. The increase in net interest income of $1.2 million, or 4.6%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

    The increase in interest income is attributable to increases in the average balances of loans, interest-bearing deposits, and investment securities, partially offset by a decrease in the average balances of FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases in 2023 that continued until September 2024.

    The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the three months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to an increase in the average balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the average balances on our savings and club deposits.

    Total interest and dividend income increased $6.0 million, or 17.2%, to $41.2 million for the three months ended September 30, 2024 from $35.1 million for the three months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $282.6 million, or 18.0%, to $1.9 billion for the three months ended September 30, 2024 from $1.6 billion for the three months ended September 30, 2023, partially offset by a decrease in the yield on interest earning assets by 6 basis points from 8.95% for the three months ended September 30, 2023 to 8.89% for the three months ended September 30, 2024.

    Interest expense increased $4.9 million, or 48.9%, to $14.9 million for the three months ended September 30, 2024 from $10.0 million for the three months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 59 basis points from 3.86% for the three months ended September 30, 2023 to 4.45% for the three months ended September 30, 2024 and an increase in average interest bearing liabilities of  $301.8 million, or 29.1%, to $1.3 billion for the three months ended September 30, 2024 from $1.0 billion for the three months ended September 30, 2023.

    Our net interest margin decreased 72 basis points, or 11.3%, to 5.68% for the three months ended September 30, 2024 compared to 6.40% for the three months ended September 30, 2023. The decrease in the net interest margin was due to the increase in the cost of interest-bearing liabilities outpacing the increase in the yield on interest-earning assets.

    Credit Loss Expense

    The Company recorded a provision for credit loss of $105,000 for the three months ended September 30, 2024 compared to a provision for credit loss of $156,000 for the three months ended September 30, 2023. The credit loss expense of $105,000 for the three months ended September 30, 2024 was comprised of a credit loss expense for off-balance sheet commitments of $105,000 primarily attributable to an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments. The credit loss expense of $156,000 for the three months ended September 30, 2023 was comprised of credit loss for loans of $438,000, partially offset by credit loss expense reduction for off-balance sheet commitments of $278,000 and credit loss expense reduction for held-to-maturity securities of $4,000.

    With respect to the allowance for credit losses for loans, we charged-off $82,000 during the three months ended September 30, 2024 as compared to charge-offs of $71,000 during the three months ended September 30, 2023. These charge-offs during the three months ended September 30, 2024 and 2023 were against various unpaid overdrafts in our demand deposit accounts.

    We recorded no recoveries from previously charged-off loans during the three months ended September 30, 2024 and 2023.

    Non-Interest Income

    Non-interest income for the three months ended September 30, 2024 was $1.3 million compared to non-interest income of $221,000 for the three months ended September 30, 2023. The increase of $1.1 million, or 510.4%, in total non-interest income was primarily due to increases of $977,000 in unrealized gain on equity securities, $225,000 in other loan fees and service charges, $26,000 in miscellaneous other non-interest income, and $14,000 in BOLI income, partially offset by a decrease of $114,000 in investment advisory fees.

    The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 compared to an unrealized loss of $430,000 on equity securities during the three months ended September 30, 2023. The unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 was due to market interest rate volatility during the quarter ended September 30, 2024.

    The increase of $225,000 in other loan fees and service charges was due to an increase of $210,000 in other loan fees and loan servicing fees and an increase of $15,000 in ATM/debit card/ACH fees.

    The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

    Non-Interest Expense

    Non-interest expense increased $1.0 million, or 11.7%, to $10.0 million for the three months ended September 30, 2024 from $8.9 million for the three months ended September 30, 2023. The increase resulted primarily from increases of $477,000 in real estate owned expense, $435,000 in salaries and employee benefits, $119,000 in occupancy expense, and $112,000 in outside data processing expense, partially offset by decreases of $53,000 in equipment expense, $39,000 in other operating expense, and $5,000 in advertising expense.

    Income Taxes

    We recorded income tax expense of $4.9 million and $4.4 million for the three months ended September 30, 2024 and 2023, respectively. For the three months ended September 30, 2024, we had approximately $203,000 in tax exempt income, compared to approximately $187,000 in tax exempt income for the three months ended September 30, 2023. Our effective income tax rates were 27.8% and 27.3% for the three months ended September 30, 2024 and 2023, respectively.

    Results of Operations for the Nine Months Ended September 30, 2024 and 2023

    Net Interest Income

    Net interest income was $77.5 million for the nine months ended September 30, 2024 as compared to $72.0 million for the nine months ended September 30, 2023. The increase in net interest income of $5.5 million, or 7.7%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

    The increase in interest income is attributable to increases in loans and interest-bearing deposits, partially offset by decreases in investment securities and FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases during 2023 that continued until September 2024.

    The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the nine months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to increases in the balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the balances of our savings and club deposits.

    Total interest and dividend income increased $24.2 million, or 25.4%, to $119.5 million for the nine months ended September 30, 2024 from $95.4 million for the nine months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $332.7 million, or 22.7%, to $1.8 billion for the nine months ended September 30, 2024 from $1.5 billion for the nine months ended September 30, 2023 and an increase in the yield on interest earning assets by 19 basis points from 8.66% for the nine months ended September 30, 2023 to 8.85% for the nine months ended September 30, 2024.

    Interest expense increased $18.7 million, or 79.9%, to $42.0 million for the nine months ended September 30, 2024 from $23.4 million for the nine months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 101 basis points from 3.35% for the nine months ended September 30, 2023 to 4.36% for the nine months ended September 30, 2024, and an increase in average interest bearing liabilities of $355.6 million, or 38.2%, to $1.3 billion for the nine months ended September 30, 2024 from $931.5 million for the nine months ended September 30, 2023.

    Net interest margin decreased 80 basis points, or 12.2%, for the nine months ended September 30, 2024 to 5.74% compared to 6.54% for the nine months ended September 30, 2023.

    Credit Loss Expense

    The Company recorded a credit loss expense reduction totaling $286,000 for the nine months ended September 30, 2024 compared to a credit loss expense totaling $767,000 for the nine months ended September 30, 2023. The credit loss expense reduction of $286,000 for the nine months ended September 30, 2024 was comprised of a credit loss expense reduction for loans of $145,000, a credit loss expense reduction for off-balance sheet commitments of $130,000, and a credit loss expense reduction for held-to-maturity investment securities of $11,000. The credit loss expense reduction for loans of $145,000 for the nine months ended September 30, 2024 was primarily attributed to favorable trends in the economy.   The credit loss expense reduction for off-balance sheet commitments of $130,000 for the nine months ended September 30, 2024 was primarily attributed to a reduction of $69.1 million in the level of off-balance sheet commitments, partially offset by an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments during the quarter ended September 30, 2024.

    The credit loss expense of $767,000 for the nine months ended September 30, 2023 was comprised of credit loss expense for loans of $1.2 million, partially offset by a credit loss expense reduction for off-balance sheet commitments of $395,000 and credit loss expense reduction for held-to-maturity investment securities of $1,000.

    We charged-off $115,000 during the nine months ended September 30, 2024 as compared to charge-offs of $285,000 during the nine months ended September 30, 2023. The charge-offs of $115,000 during the nine months ended September 30, 2024 were against various unpaid overdrafts in our demand deposit accounts. The charge-offs of $285,000 during the nine months ended September 30, 2023 were comprised of a charge-off of $159,000 related to three performing construction loans on the same project whereby we sold the loans to a third-party subsequent to June 30, 2023 at a loss of $159,000. The remaining charge-offs of $126,000 for the 2023 period were against various unpaid overdrafts in our demand deposit accounts.

    We recorded no recoveries from previously charged-off loans during the nine months ended September 30, 2024 and 2023.

    Non-Interest Income

    Non-interest income for the nine months ended September 30, 2024 was $2.6 million compared to non-interest income of $2.4 million for the nine months ended September 30, 2023. The increase of $277,000, or 11.8%, in total non-interest income was primarily due to increases of $772,000 in unrealized gains on equity securities, $196,000 in other loan fees and service charges, and $23,000 in miscellaneous other non-interest income, offset by decreases of $371,000 in BOLI income and $343,000 in investment advisory fees.

    The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $445,000 on equity securities during the nine months ended September 30, 2024 compared to an unrealized loss of $327,000 on equity securities during the nine months ended September 30, 2023. The unrealized gain of $445,000 on equity securities during the 2024 period was due to market interest rate volatility during the nine months ended September 30, 2024.

    The increase of $196,000 in other loan fees and service charges was due to increases of $164,000 in other loan fees and loan servicing fees, $27,000 in ATM/debit card/ACH fees, and $5,000 in savings account fees.

    The decrease in BOLI income was primarily due to two death claims totaling $1.8 million on BOLI policies that resulted in additional BOLI income of $404,000 in the nine months ended September 30, 2023. The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

    Non-Interest Expense

    Non-interest expense increased $3.2 million, or 12.1%, to $29.1 million for the nine months ended September 30, 2024 from $26.0 million for the nine months ended September 30, 2023. The increase resulted primarily from increases of $1.7 million in salaries and employee benefits, $800,000 in other operating expense, $475,000 in real estate owned expense, $286,000 in outside data processing expense, and $226,000 in occupancy expense, partially offset by decreases of $183,000 in equipment expense and $110,000 in advertising expense.

    Income Taxes

    We recorded income tax expense of $14.4 million and $13.4 million for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, we had approximately $597,000 in tax exempt income, compared to approximately $956,000 in tax exempt income for the nine months ended September 30, 2023. The decrease in tax exempt income was due to two death claims totaling $1.8 million on BOLI policies during the nine months ended September 30, 2023. Our effective income tax rates were 28.1% and 28.2% for the nine months ended September 30, 2024 and 2023, respectively.

    Asset Quality

    Non-performing assets were $5.4 million at September 30, 2024 compared to $5.8 million at December 31, 2023. At September 30, 2024 and December 31, 2023, we had two non-performing construction loans totaling $4.4 million secured by the same project located in the Bronx, New York. We successfully foreclosed on these two loans on October 21, 2024 and the balances were transferred to foreclosed real estate. The other non-performing assets consisted of one foreclosed property at September 30, 2024 and December 31, 2023. Our ratio of non-performing assets to total assets remained low at 0.27% at September 30, 2024 as compared to 0.33% at December 31, 2023.

    The Company’s allowance for credit losses related to loans was $4.8 million, or 0.27% of total loans as of September 30, 2024, compared to $5.1 million, or 0.32% of total loans, as of December 31, 2023. Based on a review of the loans that were in the loan portfolio at September 30, 2024, management believes that the allowance for credit losses related to loans is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.

    In addition, at September 30, 2024, the Company’s allowance for credit losses related to off-balance sheet commitments totaled $908,000 and the allowance for credit losses related to held-to-maturity debt securities totaled $126,000.

    Capital

    The Company’s total stockholders’ equity to assets ratio was 15.73% as of September 30, 2024.   At September 30, 2024, the Company had the ability to borrow $832.1 million from the Federal Reserve Bank of New York, $14.8 million from the Federal Home Loan Bank of New York and $8.0 million from Atlantic Community Bankers Bank.

    The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of September 30, 2024, the Bank had a tier 1 leverage capital ratio of 14.76% and a total risk-based capital ratio of 14.04%.

    The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or 10%, of the Company’s issued and outstanding common stock. The cost of the stock repurchase program totaled $23.0 million, including commission costs and Federal excise taxes.   Of the total shares repurchased under this program, 957,275 of such shares were repurchased during 2023 at a total cost of $13.7 million, including commission costs and Federal excise taxes.

    The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or 10%, of the Company’s issued and outstanding common stock. As of September 30, 2024, the Company had repurchased 1,091,174 shares of common stock under its second repurchase program, at a cost of $17.2 million, including commission costs and Federal excise taxes.

    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.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. 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), 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, decreases in deposit levels necessitating increased borrowing to fund loans and securities, 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, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, 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
       
    NORTHEAST COMMUNITY BANCORP, INC.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (Unaudited)
     
      September 30,   December 31,
      2024   2023
      (In thousands, except share
      and per share amounts)
    ASSETS          
    Cash and amounts due from depository institutions $ 16,023     $ 13,394  
    Interest-bearing deposits   81,766       55,277  
    Total cash and cash equivalents   97,789       68,671  
    Certificates of deposit   100       100  
    Equity securities   20,547       18,102  
    Securities held-to-maturity (net of allowance for credit losses of $126 and $136, respectively)   15,061       15,860  
    Loans receivable   1,760,504       1,586,721  
    Deferred loan (fees) costs, net   (245 )     176  
    Allowance for credit losses   (4,833 )     (5,093 )
    Net loans   1,755,426       1,581,804  
    Premises and equipment, net   24,945       25,452  
    Investments in restricted stock, at cost   712       929  
    Bank owned life insurance   25,568       25,082  
    Accrued interest receivable   13,463       12,311  
    Real estate owned   978       1,456  
    Property held for investment   1,380       1,407  
    Right of Use Assets – Operating   4,144       4,566  
    Right of Use Assets – Financing   348       351  
    Other assets   7,496       8,044  
    Total assets $ 1,967,957     $ 1,764,135  
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Liabilities:          
    Deposits:          
    Non-interest bearing $ 267,592     $ 300,184  
    Interest bearing   1,360,475       1,099,852  
    Total deposits   1,628,067       1,400,036  
    Advance payments by borrowers for taxes and insurance   2,462       2,020  
    Borrowings   7,000       64,000  
    Lease Liability – Operating   4,241       4,625  
    Lease Liability – Financing   599       571  
    Accounts payable and accrued expenses   15,965       13,558  
    Total liabilities   1,658,334       1,484,810  
               
    Stockholders’ equity:          
    Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding $ —     $ —  
    Common stock, $0.01 par value; 75,000,000 shares authorized; 14,020,602 shares and 14,144,856 shares outstanding, respectively   140       142  
    Additional paid-in capital   109,368       109,924  
    Unearned Employee Stock Ownership Plan (“ESOP”) shares   (5,911 )     (6,563 )
    Retained earnings   205,699       175,505  
    Accumulated other comprehensive income   327       317  
    Total stockholders’ equity   309,623       279,325  
    Total liabilities and stockholders’ equity $ 1,967,957     $ 1,764,135  
               
    NORTHEAST COMMUNITY BANCORP, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
     
      Three Months Ended September 30,   Nine Months Ended September 30,
      2024   2023   2024   2023
                  (In thousands, except per share amounts)
    INTEREST INCOME:                      
    Loans $ 39,484   $ 33,757     $ 114,821     $ 91,826  
    Interest-earning deposits   1,472     1,181       4,058       2,886  
    Securities   227     199       662       650  
    Total Interest Income   41,183     35,137       119,541       95,362  
    INTEREST EXPENSE:                      
    Deposits   14,630     9,889       40,459       23,050  
    Borrowings   257     109       1,559       299  
    Financing lease   10     10       29       28  
    Total Interest Expense   14,897     10,008       42,047       23,377  
    Net Interest Income   26,286     25,129       77,494       71,985  
    Provision for (reversal of) credit loss   105     156       (286 )     767  
    Net Interest Income after Provision for (Reversal of) Credit Loss   26,181     24,973       77,780       71,218  
    NON-INTEREST INCOME:                      
    Other loan fees and service charges   589     364       1,613       1,417  
    Earnings on bank owned life insurance   167     153       486       857  
    Investment advisory fees   –     114       –       343  
    Unrealized gain (loss) on equity securities   547     (430 )     445       (327 )
    Other   46     20       90       67  
    Total Non-Interest Income   1,349     221       2,634       2,357  
    NON-INTEREST EXPENSES:                      
    Salaries and employee benefits   5,135     4,700       15,738       14,079  
    Occupancy expense   735     616       2,116       1,890  
    Equipment   187     240       661       844  
    Outside data processing   681     569       1,924       1,638  
    Advertising   128     133       310       420  
    Real estate owned expense   488     11       527       52  
    Other   2,607     2,646       7,864       7,064  
    Total Non-Interest Expenses   9,961     8,915       29,140       25,987  
    INCOME BEFORE PROVISION FOR INCOME TAXES   17,569     16,279       51,274       47,588  
    PROVISION FOR INCOME TAXES   4,883     4,436       14,416       13,413  
    NET INCOME $ 12,686   $ 11,843     $ 36,858     $ 34,175  
                           
    NORTHEAST COMMUNITY BANCORP, INC.
    SELECTED CONSOLIDATED FINANCIAL DATA
    (Unaudited)
     
      Three Months Ended September 30,   Nine Months Ended September 30,
      2024   2023   2024   2023
      (In thousands, except per share amounts)   (In thousands, except per share amounts)
    Per share data:                      
    Earnings per share – basic $ 0.97     $ 0.80     $ 2.81     $ 2.42  
    Earnings per share – diluted   0.95       0.80       2.78       2.41  
    Weighted average shares outstanding – basic   13,075       14,743       13,108       14,143  
    Weighted average shares outstanding – diluted   13,417       14,822       13,279       14,192  
    Performance ratios/data:                      
    Return on average total assets   2.62 %     2.87 %     2.61 %     2.95 %
    Return on average shareholders’ equity   16.48 %     17.26 %     16.55 %     16.95 %
    Net interest income $ 26,286     $ 25,129     $ 77,494     $ 71,985  
    Net interest margin   5.68 %     6.40 %     5.74 %     6.54 %
    Efficiency ratio   36.04 %     35.17 %     36.37 %     34.96 %
    Net charge-off ratio   0.02 %     0.02 %     0.01 %     0.03 %
                           
    Loan portfolio composition:               September 30, 2024     December 31, 2023
    One-to-four family             $ 3,507     $ 5,252  
    Multi-family               202,516       198,927  
    Mixed-use               28,399       29,643  
    Total residential real estate               234,422       233,822  
    Non-residential real estate               30,312       21,130  
    Construction               1,368,222       1,219,413  
    Commercial and industrial               125,520       111,116  
    Consumer               2,028       1,240  
    Gross loans               1,760,504       1,586,721  
    Deferred loan (fees) costs, net               (245 )     176  
    Total loans             $ 1,760,259     $ 1,586,897  
    Asset quality data:                      
    Loans past due over 90 days and still accruing             $ –     $ –  
    Non-accrual loans               4,413       4,385  
    OREO property               978       1,456  
    Total non-performing assets             $ 5,391     $ 5,841  
                           
    Allowance for credit losses to total loans               0.27 %     0.32 %
    Allowance for credit losses to non-performing loans               109.52 %     116.15 %
    Non-performing loans to total loans               0.25 %     0.28 %
    Non-performing assets to total assets               0.27 %     0.33 %
                           
    Bank’s Regulatory Capital ratios:                      
    Total capital to risk-weighted assets               14.04 %     14.11 %
    Common equity tier 1 capital to risk-weighted assets               13.76 %     13.78 %
    Tier 1 capital to risk-weighted assets               13.76 %     13.78 %
    Tier 1 leverage ratio               14.76 %     16.21 %
                               
    NORTHEAST COMMUNITY BANCORP, INC.
    NET INTEREST MARGIN ANALYSIS
    (Unaudited)
     
      Three Months Ended September 30, 2024   Three Months Ended September 30, 2023
      Average   Interest   Average   Average   Interest   Average
      Balance   and dividend   Yield   Balance   and dividend   Yield
      (In thousands, except yield/cost information)   (In thousands, except yield/cost information)
    Loan receivable gross $ 1,717,875     $ 39,484     9.19 %   $ 1,446,946     $ 33,757     9.33 %
    Securities   34,920       212     2.43 %     33,754       181     2.14 %
    Federal Home Loan Bank stock   712       15     8.43 %     929       18     7.75 %
    Other interest-earning assets   98,903       1,472     5.95 %     88,156       1,181     5.36 %
    Total interest-earning assets   1,852,410       41,183     8.89 %     1,569,785       35,137     8.95 %
    Allowance for credit losses   (4,914 )                 (4,404 )            
    Non-interest-earning assets   90,313                   85,133              
    Total assets $ 1,937,809                 $ 1,650,514              
                                       
    Interest-bearing demand deposit $ 228,975     $ 2,423     4.23 %   $ 78,768     $ 522     2.65 %
    Savings and club accounts   140,047       848     2.42 %     235,613       1,624     2.76 %
    Certificates of deposit   946,290       11,359     4.80 %     707,142       7,743     4.38 %
    Total interest-bearing deposits   1,315,312       14,630     4.45 %     1,021,523       9,889     3.87 %
    Borrowed money   23,603       267     4.52 %     15,631       119     3.05 %
    Total interest-bearing liabilities   1,338,915       14,897     4.45 %     1,037,154       10,008     3.86 %
    Non-interest-bearing demand deposit   271,207                   322,213              
    Other non-interest-bearing liabilities   19,758                   16,694              
    Total liabilities   1,629,880                   1,376,061              
    Equity   307,929                   274,453              
    Total liabilities and equity $ 1,937,809                 $ 1,650,514              
                                       
    Net interest income / interest spread       $ 26,286     4.44 %         $ 25,129     5.09 %
    Net interest rate margin               5.68 %                 6.40 %
    Net interest earning assets $ 513,495                 $ 532,631              
    Average interest-earning assets                                  
    to interest-bearing liabilities   138.35 %                 151.36 %            
                                           
    NORTHEAST COMMUNITY BANCORP, INC.
    NET INTEREST MARGIN ANALYSIS
    (Unaudited)
     
      Nine Months Ended September 30, 2024   Nine Months Ended September 30, 2023
      Average   Interest   Average   Average   Interest   Average
      Balance   and dividend   Yield   Balance   and dividend   Yield
      (In thousands, except yield/cost information)   (In thousands, except yield/cost information)
    Loan receivable gross $ 1,672,582     $ 114,821     9.15 %   $ 1,353,446     $ 91,826     9.05 %
    Securities   34,071       607     2.38 %     39,375       589     1.99 %
    Federal Home Loan Bank stock   752       55     9.75 %     1,002       61     8.12 %
    Other interest-earning assets   93,417       4,058     5.79 %     74,308       2,886     5.18 %
    Total interest-earning assets   1,800,822       119,541     8.85 %     1,468,131       95,362     8.66 %
    Allowance for credit losses   (4,977 )                 (4,640 )            
    Non-interest-earning assets   90,087                   83,200              
    Total assets $ 1,885,932                 $ 1,546,691              
                                       
    Interest-bearing demand deposit $ 202,097     $ 6,300     4.16 %   $ 84,920     $ 1,433     2.25 %
    Savings and club accounts   160,296       3,032     2.52 %     262,977       5,373     2.72 %
    Certificates of deposit   880,741       31,127     4.71 %     567,378       16,244     3.82 %
    Total interest-bearing deposits   1,243,134       40,459     4.34 %     915,275       23,050     3.36 %
    Borrowed money   43,916       1,588     4.82 %     16,216       327     2.69 %
    Total interest-bearing liabilities   1,287,050       42,047     4.36 %     931,491       23,377     3.35 %
    Non-interest-bearing demand deposit   282,786                   329,993              
    Other non-interest-bearing liabilities   19,163                   16,373              
    Total liabilities   1,588,999                   1,277,857              
    Equity   296,933                   268,834              
    Total liabilities and equity $ 1,885,932                 $ 1,546,691              
                                       
    Net interest income / interest spread       $ 77,494     4.49 %         $ 71,985     5.31 %
    Net interest rate margin               5.74 %                 6.54 %
    Net interest earning assets $ 513,772                 $ 536,640              
    Average interest-earning assets                                  
    to interest-bearing liabilities   139.92 %                 157.61 %            

    The MIL Network –

  • MIL-OSI: John Nicola’s Visionary Impact Earns Hall of Fame Induction in B.C.

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, BC, Oct. 28, 2024 (GLOBE NEWSWIRE) — Nicola Wealth Management Ltd. (Nicola Wealth) is proud to announce that John Nicola, Chairman, Chief Executive Officer and founder of Nicola Wealth, will be inducted into the Business Laureates of British Columbia (BLBC) Hall of Fame. The award recognizes Mr. Nicola’s contributions to the province and Canada’s business communities and highlights his innovative approach to wealth management.

    The BLBC Hall of Fame was established by JA British Columbia (JABC) in 2005 to honour business leaders whose efforts have shaped the province and country. The Hall of Fame celebrates the lasting legacy these leaders leave for future generations.

    Since founding Nicola Wealth in 1994, John Nicola has been the driving force behind the firm’s remarkable evolution from a boutique practice into one of Canada’s fastest-growing private investment counsels. Under his visionary leadership, Nicola Wealth expanded from $80 million to a current total of over $16.4 billion in assets under management. His innovative approach to diversified investment strategies has influenced the financial planning landscape for many high-net-worth and ultra-high-net-worth individuals in Canada.

    As the organization has grown, so too has its dedication to making a positive impact. John’s legacy of “sharing the pie” exemplifies how visionary leadership, entrepreneurial spirit, and a commitment to mentorship and philanthropy can not only transform businesses but also enrich lives and inspire future generations.

    “It is a great honour to receive this recognition from the Business Laureates of B.C. Hall of Fame,” said Mr. Nicola. “This award reflects the incredible work of the entire Nicola Wealth team, whose commitment to innovation and excellence drives our success. As I shift my focus from daily operations to mentoring the next generation of leaders, I am excited about the opportunities ahead. Together, we will continue to make a positive impact in our community.”

    Chris Nicola, President of Nicola Wealth, added, “John’s vision and leadership have established a unique and better way for clients to grow and protect their wealth, create a legacy, and make a meaningful social impact. I am committed to continuing to build on this foundation to further elevate the standard of wealth management in Canada.”

    “John Nicola’s induction is a testament to his leadership and dedication to both business excellence and community impact,” said Wendi Campbell, JA British Columbia President and CEO. “His achievements have shaped the business landscape in B.C. and inspired future generations of leaders.” 

    Mr. Nicola will be inducted at the 2025 BLBC Hall of Fame Gala Dinner & Ceremonies in May. The event will bring together industry leaders, dignitaries and the business community to celebrate the achievements and legacies of these inductees.

    About Nicola Wealth 

    Nicola Wealth is an independent wealth management firm dedicated to serving the complex needs of high-net-worth individuals, families, and institutions. Today, the firm manages over $16.4 billion in assets for clients across Canada, with advisors in BC, Alberta and Ontario. Nicola Wealth delivers a level of diversification; building upon a foundation of publicly traded securities, providing access to a wide range of private asset classes including hard asset real estate, private equity, private debt, commercial mortgages and more.  For more information, please visit www.nicolawealth.com.   

    About the Business Laureates of British Columbia Hall of Fame

    The Business Laureates of British Columbia Hall of Fame was created by JA British Columbia in 2005 to honour the lifetime achievements of outstanding B.C. business leaders whose efforts have shaped our province and country. Nominations are open to the public to ensure B.C.’s diverse business community is represented and the broadest group of nominees is put forward. Laureates have demonstrated vision, leadership, integrity and legacy throughout their lifetime, and the Hall of Fame stands as a testament to the positive legacy they leave behind for future generations of business leaders. 

    For more information about the Business Laureates of British Columbia Hall of Fame and this year’s inductees, please visit the official website at https://businesslaureatesbc.jabc.ca/.

    The MIL Network –

  • MIL-OSI: Why $MAD is Positioned to Become the Next Big Meme Coin, and How MAD TAP Will Accelerate Its Growth

    Source: GlobeNewswire (MIL-OSI)

    Dubai, UAE, Oct. 28, 2024 (GLOBE NEWSWIRE) — In the rapidly evolving world of meme coins, where viral narratives and community-driven hype reign supreme, standing out from the crowd requires more than just a catchy name or fleeting trends. $MAD (Memes After Dark), a meme coin making waves in the crypto community, has emerged as a frontrunner in a crowded space. With a unique blend of strong storytelling, strategic partnerships, and an innovative ecosystem, $MAD is primed to reach the upper echelons of the meme coin landscape. One of the key drivers of this growth will be the launch of MAD TAP, an app that is poised to revolutionize the project and elevate it to new heights.

    The Cult-Like Community Behind $MAD

    The rise of meme coins often hinges on community loyalty, and $MAD has built a fanbase that’s more like a movement. From Twitter to Telegram, the $MAD community boasts an active and loyal group of supporters, often likened to a cult following. With over 96% of holders being diamond hands—a staggering figure for any crypto project—this is not just another speculative coin. The community’s devotion has been key to the project’s remarkable growth, including a jump from a $600K to a $42M market cap in a matter of days.

    This strong foundation is built on compelling storytelling, a well-executed narrative that intertwines humor, culture, and community values. The project doesn’t just ride the meme wave; it defines it. By appealing to both seasoned crypto enthusiasts and the broader public through entertaining and engaging content, $MAD has established itself as more than just another “pump and dump” meme coin. It is creating lasting value and a sense of identity within its ecosystem.

    The Power of MAD TAP: Bringing Utility to the Meme Coin Space

    While the meme coin market is often characterized by speculation, $MAD is taking a different approach by integrating real-world utilities into its ecosystem. MAD TAP is the flagship application that will serve as a game-changer for the project. In a space where most meme coins lack functional utility, MAD TAP is set to become a key differentiator.

    MAD TAP is not just a feature; it’s a strategic tool that will allow $MAD to transition from hype-driven growth to sustainable expansion. The app will provide users with real-world rewards, game economies, and utilities, expanding the $MAD ecosystem and giving holders tangible reasons to stay engaged. This utility adds a layer of depth that is often missing from meme coins, offering a degen-friendly space for collaboration and interaction that extends beyond the token itself.

    With multi-language support, including major Asian languages like Chinese and Korean, MAD TAP is set to open the doors for massive expansion into Asian markets. Following $MAD’s presence at Token2049 in Singapore, rumors are swirling that the project will aggressively expand in the region. This move could unlock significant liquidity and drive further adoption, making $MAD a truly global phenomenon.

    Strategic Partnerships and Upcoming CEX Listings

    $MAD has already secured high-profile partnerships with key players in the crypto ecosystem, further boosting its credibility. The project’s presence in large-scale events and massive Twitter Spaces with influential figures have solidified its standing in the broader community. These partnerships are not just for show—they reflect a long-term vision for growth and integration.

    Adding to the bullish sentiment, upcoming CEX listings are expected to give $MAD a significant boost. With these listings, $MAD will gain access to a broader range of investors, increased liquidity, and greater visibility. This is crucial as the meme coin market matures and transitions from niche communities to mainstream adoption.

    The Pokémon Connection: Building an IP for Mass Appeal

    One of the most intriguing aspects of $MAD is its potential to become the next Pokémon of the crypto world. The team has even brought a Pokémon advisor on board, signaling that the project is aiming for mainstream success far beyond the typical meme coin trajectory. This is not about short-term gains; $MAD is building an intellectual property (IP) that resonates emotionally with its community, similar to how Pokémon captured the imaginations of generations.

    This combination of viral meme culture, real utility, and mainstream appeal positions $MAD as a project with staying power. As the team continues to develop its ecosystem and roll out features like MAD TAP, it’s clear that $MAD has the potential to break out from the meme coin mold and evolve into a major player in the crypto space.

    Conclusion: The Road Ahead for $MAD

    $MAD is more than just a meme coin—it’s a project with a strong community, real-world utilities, and a vision for the future. The launch of MAD TAP will unlock new possibilities, expanding the ecosystem, increasing user engagement, and opening doors to new markets. With its strategic approach and dedicated following, $MAD is positioning itself to become the next blue-chip meme coin, and possibly, a cultural icon in the crypto world.

    As the project continues to grow and gain momentum, it’s clear that $MAD is not just riding the meme wave—it’s shaping the future of it.

    Website | Twitter | Telegram | Instagram | TikTok | DEXScreener | CoinMarketCap | CoinGecko

    MAD Token

    https://www.mad.vip

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. 

    The MIL Network –

  • MIL-OSI: Lambent Executives to Co-Present with NSU Florida on Occupancy Analytics and Operational Excellence

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Executives from occupancy analytics software company Lambent are partnering with NSU Florida to highlight how businesses and higher education institutions are using occupancy analytics to maximize operational excellence.

    Lambent CEO Richard Scannell and Campus Technology Advisor/Sales Director Sue Wohlford Bork will be joined by Daniel Alfonso, Vice President of Facilities Management and Safety at NSU Florida at two different events in the next two weeks—SRAPPA (Southeast Region Association of Physical Plant Administrators) and Tradeline’s Space Strategies 2024.  

    The sessions will examine the role of occupancy analytics in revolutionizing operational excellence across real estate and facilities management, and the resulting cost reductions, adaptability improvements, and energy efficiencies. The presenters will share NSU Florida’s own experience integrating occupancy data with its Building Automation Systems (BAS) and the opportunities that created for data-driven space discussions and the improved management of hybrid workplaces. They will also discuss the transformational potential of predictive occupancy analytics in developing operational strategies, anticipating space usage trends and aligning resources to quickly adapt to those shifts.

    The session will be presented at two separate conferences:
    SRAPPA (Southeast Region Association of Physical Plant Administrators)

    • Chattanooga, TN
    • Wed. Oct. 30th  @ 2:25 PM

    Speakers:

    Sue Bork
    Campus Technology Advisor to Higher Education Institutions
    Lambent    		 Daniel Alfonso
    Vice President of Facilities Management and Safety
    NSU Florida
       

    Tradeline Space Strategies 2024

    • Scottsdale, AZ
    • Mon. Nov. 11th @ 2:20 PM and Tue.  Nov. 12th @ 1:45 PM

    Speakers: 

    Richard Scannell
    CEO
    Lambent    		 Daniel Alfonso
    Vice President of Facilities Management and Safety
    NSU Florida
       

    About Lambent
    Lambent is an occupancy analytics software company helping corporate and higher ed campuses optimize space utilization, facilities operations and real estate investments. Its SaaS platform, Lambent Spaces, leverages existing data sources such as Wi-Fi and sensors to provide anonymous and predictive analytics to inform decisions related to utilization, workplace experiences, planning, scheduling, and maintenance. The software delivers actionable intelligence so facilities professionals and space planners can make better use of the spaces they have. For more information, visit https://lambentspaces.com/.

    The MIL Network –

  • MIL-OSI: Extraordinary Experiences Cultivate Loyal Brand Advocates

    Source: GlobeNewswire (MIL-OSI)

    Solidifi releases results from its Annual 2024 Consumer Mortgage Experience Survey(1)and the Solidifi 2024 Future Plans of Homeowners Survey(2)

    BUFFALO, N.Y. and DENVER, Oct. 28, 2024 (GLOBE NEWSWIRE) — The sixth annual national survey(1) commissioned by Solidifi U.S. Inc. (“Solidifi”) revealed pent-up demand for home purchases remains strong even amid uncertain market conditions. The 2024 results offer valuable insights on how to make homeownership more accessible for borrowers as the market shifts and how to create extraordinary experiences and cultivate loyal brand advocates to drive future business.

    “The findings show that during times of uncertainty, brand loyalty strengthens as consumers seek stability in their financial decisions,” said Solidifi President Loren Cooke. “The leading factor in lender choice continues to be a strong lending relationship. As a majority of consumers face increasing affordability issues, their propensity to bundle services with lenders also increases. And, this year more than ever, consumers are acting on their positive experiences – driving repeat and referral business.”

    This year, the survey also introduced the mortgage industry’s Net Promoter Score (NPS), which received a solid 53 – well above the 30+ NPS benchmark for the financial services sector. “Interestingly, Gen Z consumers rated the industry lower, with a 34 NPS compared to all other demographics whose scores were in the 50’s. This suggests an opportunity to engage younger generations by focusing on transparency and building meaningful connections,” added Cooke. “Across generations, providing extraordinary experiences instills trust within the lender’s customer base and consumers become more likely to continue to expand existing relationships,” Cooke concluded.

    In addition to the Annual 2024 Consumer Mortgage Experience Survey(1), Solidifi also conducted the 2024 Future Plans of Homeowners Survey(2) to explore how market conditions influence borrowers’ future real estate plans. The Solidifi 2024 Future Plans Survey revealed that while affordability issues remain prevalent, borrowers are increasingly researching options and adjusting expectations. Despite rising costs, homeownership continues to be seen as a pathway to generational wealth, with 60% of respondents planning to purchase a home within the next three to five years.

    “Though higher interest rates have left many borrowers hesitant, the intent to buy remains strong. The median timeframe for future purchases is now around 2.25 years,” noted Cooke. “Exurb migration is outpacing urban growth as consumers seek more space, affordability, and better quality of life – trends particularly notable in underserved markets.”

    For future borrowers, the rising cost of homeownership and a feeling of not being prepared are the largest barriers to entry. This year, borrowers faced greater difficulty with down payments; credit score challenges were on the rise, and many were increasingly motivated by the need to access cash for life events. Lenders are addressing this by offering special programs to overcome barriers to homeownership and rising housing costs. In 2024, borrowers were more informed about the special programs available to help reduce their costs in anticipation of their next move.

    “Consistent with results from the past five years, borrowers continue to prioritize in-person interactions for both appraisals and closings,” said Cooke. “Across all generations, face-to-face engagement continues to be preferred due to the trust and care it fosters during what is the most significant financial transaction in a person’s life. However, there are opportunities to raise awareness, encourage adoption, and increase acceptance of digital tools throughout the process to provide the efficient, transparent and personalized experience consumers want.”

    Results indicated that 82% of respondents prefer an in-person closing though Gen Z is most open to hybrid closing processes at 39%. Of the 82% who prefer face-to-face interactions: 56% prefer a paper process, 19% prefer in-person with fully electronic documents, and 25% prefer an in-person hybrid process. The top reasons for preferring face-to-face interactions are trust and the ability to get immediate answers during such a significant transaction.

    “Results point to a direct relationship between offering convenience, transparency and flexibility, and a higher customer satisfaction,” said Cooke. “Providing an extraordinary experience including proactive communication throughout the transaction, convenient scheduling options, offering closing options and meeting expectations will result in happy customers, every time.”

    To download the full survey results, visit: go.solidifi.com/2024mortgageexperiencesurvey.

    [1]
    In the Solidifi 2024 Consumer Mortgage Experience Survey, Market Street Research surveyed 1,000+ residential borrowers 18 years of age or older in the United States who purchased, refinanced or closed on a home equity loan or line of credit within the last two years. Panelists included a mix of those who purchased a home, refinanced or obtained a home equity loan or line of credit with approximately 49% closing within the past year, and 51% closing one to two years ago.

    [2]
    In the Solidifi 2024 Future Plans of Homeowners Survey, Market Street Research, surveyed 1,100+ residential borrowers 18 years of age or older in the United States who are a current homeowner or intend on owning a home at some point in the future. 56% of respondents currently own a home, 10% previously owned a home and 34% have never owned a home. Panelists included a mix of future buyers across the U.S. and those in underserved markets.

    Both surveys were fielded by Snap Surveys, and the panels were sourced by Dynata. Fielding was executed July 2024.

    About Solidifi
    Solidifi is a leading network management services provider for the residential lending industry. Our platform combines proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending services. We are a leading independent provider of residential real estate appraisals and title, and settlement services. Our clients include top 100 mortgage lenders in the U.S. Solidifi is a wholly-owned subsidiary of Real Matters (TSX: REAL). Visit www.solidifi.com for more information and stay connected with our latest news on LinkedIn.

    For more information:
    Jennie Craig
    Vice President, Marketing
    jlcraig@solidifi.com
    832.236.3392

    Solidifi and the Solidifi logo are trademarks of Real Matters and/or its subsidiaries. All other trademarks are the property of their respective owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0d1d0e2-8767-4632-a822-15904de0041d

    The MIL Network –

  • MIL-OSI: Red Cat to Supply FlightWave Edge 130 Blue Systems to Royal Australian Navy

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, Oct. 28, 2024 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced a new contract and order for 12 of its FlightWave Edge 130 Blue system from the Royal Australian Navy. The contract was secured through Criterion Solutions Pty Ltd., an Australian-based distributor of intelligence, surveillance, reconnaissance and information technology solutions.

    FlightWave, an industry-leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.

    “Our mission is to equip warfighters around the globe with cutting-edge sUAS technology. The Edge 130 Blue, with its advanced long-range surveillance and reconnaissance capabilities, offers a significant advantage in maritime and other challenging environments,” stated Jeff Thompson, CEO of Red Cat. “We are excited to expand our partnership with the Australian defense forces through this initial tranche of Edge 130 units. Their investment in small ISR and precision strike drones is vital for enhancing security and stability in the Indo-Pacific region.”

    The Edge 130 Blue is a UAS-certified military-grade tricopter for long-range mapping, inspection, surveillance, and reconnaissance needs. Designed specifically for government and military applications, the Edge 130 Blue can be assembled and hand-launched in just one minute by a single user to capture high-accuracy aerial imagery with medium-range autonomy. Weighing in at only 1200g, the Edge has a 60+ minute flight time in forward mode, an industry-leading endurance among all other Blue UAS-approved drones available.

    Earlier this month, Red Cat introduced its ARACHNID™ family of unmanned intelligence, surveillance, and reconnaissance (ISR) and precision strike systems at AUSA 2024 Annual Meeting and Exposition in Washington D.C. As part of its ongoing innovation, Red Cat’s product roadmap includes TRICHON™, which will build upon the FlightWave Edge 130 Blue.

    About Red Cat, Inc.
    Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a bleeding-edge Family of ISR and Precision Strike Systems including the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class, the Edge 130 Blue Tricopter for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

    About FlightWave
    FlightWave Aerospace Systems Corporation is an industry leading manufacturer of dual-use VTOL drones, sensors and software solutions located in Santa Monica, CA. FlightWave designs and manufactures the Edge 130 VTOL drone and payload cameras for the commercial, defense, security, and intelligence markets. The fully-autonomous Edge 130 sUAS has the best flight endurance in the industry and with AI edge compute capabilities, provides superior aerial data capture to both the commercial and defense markets.

    Forward-Looking Statements 
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law. 

    Contacts:

    INVESTORS:
    E-mail: Investors@redcat.red

    NEWS MEDIA: 
    Indicate Media
    Phone: (347) 880-2895
    Email: peter@indicatemedia.com

    The MIL Network –

  • MIL-OSI: EXL Enterprise AI Platform accelerates generative AI development for clients with NVIDIA AI software

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, announces the launch of its EXL Enterprise AI Platform, a new technology hub designed to support the rapid-scale development and integration of GenAI solutions into client workflows.

    Developed on the NVIDIA AI Enterprise software platform, the EXL Enterprise AI Platform makes it possible to rapidly deploy specialized industry solutions to transform enterprise workflows. It is designed to not only support the creation of new solutions, but also execute and scale their integration into client ecosystems through EXL’s robust data, AI tooling and engineering capabilities.

    The first capabilities launched on the EXL Enterprise AI Platform are the recently announced EXL Insurance Large Language Model (LLM), XTRAKTO.AI, an intelligent document processing solution, a Smart Agent Assist solution, which uses advanced data and AI technologies to transform contact center operations, and Code Harbor™, a GenAI-powered coding solution that is used to modernize legacy applications to current programming languages. By bringing these and other pioneering GenAI solutions together on a single platform, EXL is making it easier for clients to incorporate AI into existing workflows and business processes.

    “The biggest challenges enterprises are facing when it comes to extracting the full value of GenAI solutions are balancing cost, accuracy and latency. It’s not just about having the newest, biggest LLM or the most innovative point solution – businesses need accurate, fast, reliable solutions with a modular architecture that can be implemented cost-effectively and continue to update as technology evolves,” said Anand “Andy” Logani, EXL’s executive vice president and chief digital officer. “At EXL, we have the right mix of data and AI and industry expertise to scale new GenAI capabilities and help our clients integrate them seamlessly into their existing workflows.”

    “Generative AI is creating unprecedented opportunities for enterprises to boost productivity and drive innovation,” said John Fanelli, vice president, Enterprise Software at NVIDIA. “With NVIDIA AI Enterprise software, the EXL Enterprise AI Platform helps enable businesses to rapidly develop and deploy custom generative AI solutions for industry-specific use cases, code and languages as their needs evolve.”

    The solutions on the EXL Enterprise AI Platform are developed using NVIDIA AI models and NVIDIA AI Enterprise software, including the NVIDIA NeMo framework and NVIDIA NIM microservices, which allows them to be rapidly customized and deployed for clients across industries, geographies and languages.

    EXL is also integrating NIM microservices in the EXL Enterprise AI Platform to power existing EXL platforms such as Medconnection, which supports insurance claims and medical underwriting claims processing, and the LifePRO™ digital suite, an insurance underwriting automation tool.

    About EXL

    EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit http://www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    © 2024 ExlService Holdings, Inc. All rights reserved. For more information go to www.exlservice.com/legal-disclaimer

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Bitfarms Schedules Third Quarter 2024 Conference Call on November 12th, 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Ontario and BROSSARD, Québec, Oct. 25, 2024 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin data center company, will report its third quarter 2024 financial results on Tuesday, November 12th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q3 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.

    The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated data centers with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 12 operating Bitcoin data centers and two under development situated in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com

    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact:

    Québec: Tact
    Louis-Martin Leclerc
    +1 418-693-2425
    lmleclerc@tactconseil.ca

    The MIL Network –

  • MIL-OSI: MCQ Markets To Host Exclusive Webinar on October 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 25, 2024 (GLOBE NEWSWIRE) — MCQ Markets, an emerging platform in the luxury asset investment space, is pleased to announce a webinar event featuring a corporate development update and a fireside chat with CEO Curt Hopkins. The event will take place on October 31, 2024, at 11:00 AM (ET).

    In this exclusive webinar, Curt Hopkins will provide insights into the latest developments at MCQ Markets, including recent growth initiatives, product innovations, and key strategic priorities for 2025. Following the corporate update, attendees will have the opportunity to engage in a live Q&A session during the fireside chat with the CEO, offering a unique opportunity to hear directly from an industry leader.

    The webinar is open to investors, clients, partners, and industry professionals, providing a platform for direct dialogue and deeper engagement with MCQ Markets.

    Event Details:

    “We’re excited to share our progress with our stakeholders and explore the exciting future ahead for MCQ Markets. This event represents a key opportunity for our community to stay informed and connected with the strategic direction of our company,” said Curt Hopkins, CEO of MCQ Markets.

    To register for the webinar, please visit the link above. Space is limited, so early registration is encouraged.

    About MCQ Markets

    MCQ Markets is redefining luxury asset ownership by making exotic automobiles attainable through its innovative fractional ownership model. The platform serves both passionate enthusiasts and seasoned investors, democratizing luxury ownership and allowing more individuals to invest in assets that were previously out of reach. For more information, please visit: https://www.mcqmarkets.com/

    Investments contain a high degree of risk. You should carefully review the MCQ Markets offering circular before deciding to invest, a copy of which is available on the Securities and Exchange Commission’s website, linked here: https://www.sec.gov/Archives/edgar/data/2025795/000149315224023512/partiiandiii.htm.

    Contact Information:

    MCQ Markets Media Contact
    Email: press@mcqmarkets.com

    The MIL Network –

  • MIL-OSI: DTE Energy begins operating its largest solar park, Sauk Solar

    Source: GlobeNewswire (MIL-OSI)

    Detroit, Oct. 25, 2024 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE), Michigan’s largest producer of and investor in renewable energy, today announced that its largest solar park, Sauk Solar, is now operational. Located in central Michigan’s Branch County, the 150-megawatt solar park has nearly 347,000 solar panels and generates enough clean energy to power approximately 40,000 homes. 

    Sauk Solar is more than three times the size of DTE’s second largest solar park in Lapeer. It is also the first of six new solar parks to come online as DTE continues to build renewable energy projects to meet customer demand for more clean energy through its CleanVision MIGreenPower program. Sauk Solar, and the other five parks under construction, are funded by customers who are voluntarily enrolled in MIGreenPower. These new solar parks represent significant advancement toward the company’s goal of achieving net zero carbon emissions and reaching Michigan’s new renewable energy standard of 60% by 2035. 

    “As our largest solar park yet, Sauk Solar is a major accomplishment for DTE and all the teams that made it happen – but it’s also the first in a series of new solar developments that will have a major impact on the state of Michigan as a whole,” said Matt Paul, president and chief operating officer, DTE Electric. “Building out these parks is not only a critical step in ending our use of coal by 2032, but it will also help us meet our sustainability goals and deliver the clean, Michigan-made renewable energy our customers want. We thank the leaders and residents of Union Township, Branch County and Union City for helping make the new park a reality, so together we can strengthen local economies and build a cleaner energy future for generations to come.” 

    Sauk Solar created more than 350 local jobs during construction. Since 2009, the company’s investment in renewable energy has created an estimated 20,000 jobs in Michigan. Additionally, Sauk Solar will bring Branch County millions of dollars in added tax revenue over the life of the project, funding which can be used for roads, schools, first responders and other vital community services. 

    “DTE has been a great partner to work with,” said Bud Norman, Branch County administrator and controller. “It’s been exciting to collaborate with DTE on this knowing we’re not only creating a cleaner world for our kids and grandkids, but also bringing real, lasting change to our local economy.” 

    DTE already generates enough clean energy from wind and solar to power more than 750,000 homes and plans to power approximately 5.5 million homes with renewable energy by 2042. The company’s MIGreenPower program, one of the largest voluntary renewable energy programs in the country, is helping accelerate this clean energy transformation. MIGreenPower has nearly 100,000 residential and 1,900 business customers enrolled, and DTE plans to add more than 2,400 megawatts of new wind and solar to support those enrollments over the next 10 years. 

    About DTE Energy 

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

    The MIL Network –

  • MIL-OSI: CORRECTION — North Dallas Bank & Trust Co. Announces Third Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    In a release issued earlier today under the same headline by North Dallas Bank & Trust Co., (OTC: NODB) please note that the word “Second” in the headline should instead read “Third”. The release follows:

    DALLAS, Oct. 25, 2024 (GLOBE NEWSWIRE) — NDBT (North Dallas Bank & Trust Co.), an independent community bank established in 1961, today announced net earnings for three months of $502,493 or $0.20 per share, and net earnings for nine months of $2,186,955 or $0.85 per share, for the periods ending September 30, 2024.

    Earnings were prepared internally without review by the company’s independent accountants. Financial results are the results of past performance, events and market conditions, and are not a guarantee for future results. Any forward-looking implications derived from this information may differ materially from actual results.

    Further information about the earning and financial performance is available from Glenn Henry, Chief Financial Officer, by contacting NDBT.

    ABOUT NDBT
    Founded in 1961, NDBT (North Dallas Bank & Trust Co.) is an independent community bank with five banking centers located in Dallas, Addison, Frisco, Las Colinas, and Plano. Headquartered on the corner of Preston Road and LBJ at 12900 Preston Road in Dallas, NDBT is dedicated to helping people make smarter choices in business and life by offering authentic banking solutions, wealth management, and innovative online banking tools. NDBT is Member FDIC and an Equal Housing Lender. For more information, call 972.716.7100, or visit online at www.ndbt.com.

    NORTH DALLAS BANK & TRUST CO.
    12900 PRESTON ROAD
    DALLAS, TEXAS
                   
    FINANCIAL HIGHLIGHTS Three Months Ended   Nine Months Ended
      September 30   September 30
    Income Statement 2024   2023   2024   2023
                   
    Interest Income 19,690,721     16,080,200     57,809,406     45,415,030  
    Interest Expense 11,417,563     8,497,071     32,759,175     19,553,246  
    Net Interest Income 8,273,158     7,583,129     25,050,231     25,861,784  
                   
    Provision for Loan Losses 0     0     (440,000 )   (450,000 )
    Noninterest Income 1,546,280     1,947,351     4,384,215     4,659,259  
    Noninterest Expenses (9,302,724 )   (8,767,533 )   (26,524,077 )   (25,989,503 )
    Income Before Taxes & Extraordinary 516,714     762,947     2,470,369     4,081,540  
                   
    Income Tax (14,221 )   (95,021 )   (258,414 )   (679,355 )
    Income Tax Prior Period (25,000 )   0     (25,000 )   0  
    Net Income 502,493     667,926     2,186,955     3,402,185  
                   
    Earnings per Share 0.20     0.26     0.85     1.32  
                   
              Nine Month Average
      As of September 30   Ended September 30
    Balance Sheet 2024   2023   2024   2023
                   
    Total Assets 1,867,355,555     1,728,752,439     1,819,265,389     1,697,914,626  
    Total Loans 1,211,656,001     1,133,317,827     1,206,729,021     1,057,729,435  
    Deposits 1,543,618,454     1,468,335,323     1,503,472,762     1,472,027,210  
    Stockholders’ Equity 170,479,567     160,495,368     166,294,611     160,534,861  
                   
    (Prepared internally without review by
    our independent accountants)
                   

    Media Contact:
    Brian C. Jensen
    972-716-7124
    brian.jensen@ndbt.com

    The MIL Network –

  • MIL-OSI: SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Mergers and Looming Votes of AFBI, ARC and VSTO

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Affinity Bancshares, Inc. (Nasdaq: AFBI), relating to its proposed merger with Atlanta Postal Credit Union (“APCU”). Under the terms of the agreement, APCU will pay Affinity an aggregate amount estimated to provide Affinity with sufficient cash to pay Affinity shareholders approximately $22.40 – $22.60 per share.

      ACT NOW. The Shareholder Vote is scheduled for November 4, 2024.

      Click here for more information https://monteverdelaw.com/case/affinity-bancshares-inc/. It is free and there is no cost or obligation to you.

    • ARC Document Solutions, Inc. (NYSE: ARC), relating to its proposed merger with TechPrint Holdings, LLC. Under the terms of the agreement, ARC shareholders are expected to receive $3.40 in cash per share they own.

      DON’T MISS YOUR CHANCE. The Shareholder Vote is scheduled for November 21, 2024.

      Click here for more information: https://monteverdelaw.com/case/arc-document-solutions-inc/. It is free and there is no cost or obligation to you.

    • Vista Outdoor Inc. (NYSE: VSTO), relating to its proposed merger with Revelyst, Inc. Under the terms of the agreement, Vista shareholders will receive $25.75 in cash per share of Vista stock they own.

      ACT AS SOON AS POSSIBLE. The Shareholder Vote is scheduled for November 25, 2024.

      Click here for more information https://monteverdelaw.com/case/vista-outdoor-inc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: Advantage Solutions Announces Date for its 3Q’24 Financial Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, Oct. 25, 2024 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) announced today that its third-quarter financial results will be released at 7 a.m. ET on November 7, 2024, followed by a conference call at 8:30 a.m. ET on the same day.

    The conference call can be accessed live over the phone by dialing 1-800-343-4136 or for international callers, 1-203-518-9843. The conference ID is ADVQ3. Three hours after the call, a replay will be available by dialing 1-844-512-2921 or, for international callers, 1-412-317-6671. The passcode is 11156956. The replay recording will be available until November 14, 2024.

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

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

    Investor Contacts: 
    Ruben Mella
    ruben.mella@youradv.com    

    Media Contacts: 
    Peter Frost
    press@youradv.com    

    The MIL Network –

  • MIL-OSI: Fundbox Selected as an Inc.com B2B Power Partner for Leadership in Embedded Capital

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 25, 2024 (GLOBE NEWSWIRE) — Fundbox, a leading embedded capital platform for SMBs, is excited to announce its selection as an Inc.com B2B Power Partner. This recognition underscores Fundbox’s commitment to empowering the SMB economy by meeting the working capital needs of small businesses, primarily through embedded experiences in the tools they use every day. The prestigious list honors B2B organizations across the country that have proven track records supporting small businesses.

    Every company on the Inc. Power Partner award list received top marks from clients for being instrumental in helping small businesses. “This is our definitive listing of vendors and suppliers who have demonstrated excellence in serving small and midsize customers,” says Inc. editor in chief Mike Hofman. “As part of the vetting process, our team of editors, researchers and reporters gathered information on companies’ products and services, assessed their reputation as captured in online comments and forums, and collected customer testimonials to ensure that the sales pitch matches the actual client experience. In every case, we spoke to founders who were happy to attest to a vendor’s genuine commitment to a mutually beneficial business partnership. We’re happy to be the conduit for that positive word of mouth.”

    Fundbox’s cross-platform data sharing and cutting-edge underwriting technology enable SMB platforms to offer capital to their customers within their workflows. “At Fundbox, we believe that working capital should be as accessible as the tools SMBs already rely on,” said Anchit Singh, Chief Business Officer at Fundbox. “Being recognized as a B2B Power Partner affirms our mission to empower the SMB economy through seamless access to credit through our partners’ platforms. We are honored to be selected as a trusted partner to SMBs.”

    To view the complete list, go to: https://www.inc.com/power-partner-awards/2024

    The November 2024 Issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning October 29, 2024.

    About Fundbox
    Fundbox is the pioneer of embedded working capital solutions for SMBs, leading the charge in best-in-class embedded finance offerings since 2015. Fundbox empowers the small business economy by offering fast, simple access to working capital through the digital tools businesses already use. Fundbox has partnered with leading SMB platforms to help over 125,000 small businesses unlock growth with fast, simple access to over $5B of capital.

    For press inquiries, please contact pr@fundbox.com

    About Inc.
    Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.

    The MIL Network –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 25.10.2024

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    25 October 2024 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 25.10.2024

    Espoo, Finland – On 25 October 2024 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 1,349,626 4.42
    CEUX 445,115 4.41
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,794,741 4.42

    * Rounded to two decimals

    On 25 January 2024, Nokia announced that its Board of Directors is initiating a share buyback program to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The first phase of the share buyback program started on 20 March 2024. On 19 July 2024, Nokia decided to accelerate the share buybacks by increasing the number of shares to be repurchased during the year 2024. The post-increase 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 22 July 2024 and end by 31 December 2024 with a maximum aggregate purchase price of EUR 600 million for all purchases during 2024.

    Total cost of transactions executed on 25 October 2024 was EUR 7,926,474. After the disclosed transactions, Nokia Corporation holds 185,625,881 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.

    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 40 803 4080
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: Silvercrest Asset Management (SAMG) to Announce Third Quarter 2024 Results and Host Investor Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) — Silvercrest Asset Management Group Inc. (NASDAQ: SAMG) announced today it will host a teleconference at 8:30 am Eastern Time on November 1, 2024, to discuss the company’s financial results for the third quarter ended September 30, 2024. A news release containing the results will be issued before the open of the U.S. equity markets and will be available on http://ir.silvercrestgroup.com/.

    Chairman, Chief Executive Officer and President Richard R. Hough III and Chief Financial Officer Scott A. Gerard will review the quarterly results during the call. Immediately after the prepared remarks, there will be a question and answer session for analysts and institutional investors.

    Analysts, institutional investors and the general public may listen to the call by dialing 1-844-836-8743 or for international callers please dial 1-412-317-5723.  A live, listen-only webcast will also be available via the investor relations section of www.silvercrestgroup.com.  An archived replay of the call will be available after the completion of the live call on the Investor Relations page of the Silvercrest website at http://ir.silvercrestgroup.com/.

    About Silvercrest
    Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser. With offices in New York, Boston, Virginia, New Jersey, California and Wisconsin, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. As of June 30, 2024, the firm reported assets under management of $33.4 billion.

    Contact: Richard Hough
    212-649-0601
    rhough@silvercrestgroup.com

    The MIL Network –

  • MIL-OSI: TeraWulf Inc. Announces Closing of $500 Million 2.75% Convertible Senior Notes Offering

    Source: GlobeNewswire (MIL-OSI)

    EASTON, Md., Oct. 25, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today completed its previously announced offering of 2.75% Convertible Senior Notes due 2030 (the “Convertible Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of notes sold in the offering was $500 million, which includes $75 million aggregate principal amount of notes issued pursuant to an option to purchase additional notes granted to the initial purchasers.

    In conjunction with the issuance of the Convertible Notes, the Company entered into capped call transactions with a cap price of $12.80 (representing a premium of 100% over the last reported sale price) and repurchased $115 million of the Company’s common stock.

    The table below illustrates the potential net dilution expectations from the overall transaction.

    The net proceeds from the sale of the Convertible Notes were approximately $487.1 million after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by the Company. The Company expects to use $60 million of the net proceeds to pay the cost of the capped call transactions, $115 million to repurchase shares of its common stock and the remainder for general corporate purposes, which may include working capital, strategic acquisitions, expansion of data center infrastructure to support high-performance computing activities and expansion of existing assets.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com

    Media:
    media@terawulf.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6dc9f0ea-cb8a-4910-9e05-daa4d5422db6

    The MIL Network –