Category: GlobeNewswire

MIL-OSI: Announcement of Annual General Meeting of the Shareholders (“AGM”)

Source: GlobeNewswire (MIL-OSI)

The Company announces that the Annual General Meeting of the Shareholders (“AGM”) will be held at 10:30am on 14 November 2024 at its registered office First Floor, 10 Lefevre Street, St Peter Port, Guernsey GY1 2PE. A copy of the Notice of the AGM, Form of Proxy and Financial Statements are available on the Company’s website.

The MIL Network –

January 25, 2025
MIL-OSI: Lender Market Launches Groundbreaking AI Financial Advisor for Businesses, Revolutionizing Bookkeeping in Seconds

Source: GlobeNewswire (MIL-OSI)

TOMS RIVER, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) — In a major leap forward for business owners and entrepreneurs, Lender Market has unveiled its cutting-edge AI ﬁnancial advisor, designed to automate bookkeeping and ﬁnancial management in record time. This advanced system is capable of processing multiple bank statements and categorizing ﬁnancial data in just ﬁve seconds, a game- changing feature for businesses of all sizes.

A Breakthrough in Financial Efﬁciency

For many businesses, bookkeeping is often a time-consuming and complex task, requiring meticulous attention to detail to categorize income, expenses, and transactions. Lender Market’s new AI advisor changes this narrative by offering an unprecedented level of speed and accuracy. With the ability to instantly analyze bank statements across multiple accounts, the AI can efﬁciently categorize debits, credits, and expenditures into clear and actionable insights.

Unlike traditional bookkeeping methods, which can take hours or even days, this innovative tool delivers results in just ﬁve seconds. For businesses managing multiple accounts and transactions, this means saving valuable time and resources that can be reallocated to more strategic aspects of operations.

How It Works: An Intelligent Financial Advisor

The AI-powered ﬁnancial advisor by Lender Market doesn’t just perform basic categorization. It intelligently reads statements and understands the context of transactions, ensuring accurate classiﬁcation. By examining debits, credits, and transaction histories, it provides businesses with a holistic ﬁnancial picture at a glance.

The tool can handle complex ﬁnancial data from various sources, making it an essential asset for businesses that deal with multiple revenue streams or expenses. The AI automatically categorizes transactions into predeﬁned categories or custom tags, enabling detailed ﬁnancial tracking and reporting that can be tailored to speciﬁc business needs.

Empowering Businesses with Real-Time Insights

Beyond just bookkeeping, Lender Market’s AI offers deeper ﬁnancial insights that help business owners make informed decisions. By analyzing patterns in ﬁnancial data, it can identify potential cost savings, highlight areas for investment, and suggest ways to optimize cash ﬂow. This empowers businesses to manage their ﬁnances with greater precision and foresight.

With these real-time insights, business owners can maintain tighter control over their ﬁnancial health, identify growth opportunities, and avoid potential pitfalls. The AI can also be integrated with Lender Market’s lending platform, allowing businesses to receive personalized loan recommendations based on their ﬁnancial performance.

A Game-Changer for SMBs

This innovative solution is particularly valuable for small and medium-sized businesses (SMBs), where time and ﬁnancial resources are often stretched thin. SMB owners can now access the same level of ﬁnancial intelligence as larger corporations, without the need for a full-ﬂedged accounting team.

The AI advisor offers a user-friendly interface, ensuring that even those without ﬁnancial expertise can beneﬁt from its features. Business owners can simply upload their bank statements, and within seconds, they receive categorized ﬁnancial reports that are easy to understand and act upon.

The Future of Financial Management

Lender Market’s AI ﬁnancial advisor represents the future of ﬁnancial management for businesses. By streamlining bookkeeping processes and offering real-time ﬁnancial insights, it empowers businesses to focus on growth and innovation. As more companies turn to AI-powered solutions, Lender Market is at the forefront of this revolution, helping businesses navigate their ﬁnancial landscapes with conﬁdence and ease.

With this latest launch, Lender Market solidiﬁes its position as a leader in ﬁnancial technology, offering businesses the tools they need to succeed in an increasingly competitive market.

About Lender Market

Lender Market is a pioneering ﬁnancial technology platform that leverages AI to provide businesses with tailored ﬁnancial solutions, from bookkeeping and advisory services to lending recommendations. The platform’s goal is to empower businesses with smarter ﬁnancial tools, enabling them to grow sustainably and efﬁciently.

Says Eli Ofel the CEO and founder of lender market. Also founder of leaa health and 02 market the price comparison platform.

For more information on how Lender Market’s AI ﬁnancial advisor can transform your business’s ﬁnancial management, visit Lender Market’s website.

PR Contact Information Media Contact:

Contact Person: Eli Ofel

Phone Number: 732.808.3305

Email: Eli@lender.market

The MIL Network –

January 25, 2025
MIL-OSI: Montreux Capital Management Zug AG Acquires GC Partners Group, a Global Payments FX Provider

Source: GlobeNewswire (MIL-OSI)

LONDON, Oct. 24, 2024 (GLOBE NEWSWIRE) — Montreux Capital Management Zug AG (“Montreux”) is pleased to announce the acquisition of GC Partners Group Ltd (“GC Partners”), a specialist financial services provider in the foreign exchange and payments market.

The foreign exchange market is the largest and most liquid financial market in the world. With a daily trading volume exceeding $5 trillion, it is also the most actively traded market globally.

GC Partners, a celebrated firm with 20 years of service, has established a strong reputation in the industry for its customer-centric financial solutions tailored to meet client needs. Through their global network of offices, last year they transacted over USD$12.5 billion in foreign currency, providing quick, reliable, and secure solutions to clients around the globe. With offices in the UK, Hong Kong, Dubai, the Netherlands, Portugal, and Spain, GC Partners has a global presence that will complement Montreux’s existing operations.

“Through the acquisition, GC Partners will be able to accelerate their growth strategy, scale the business, and enhance their global payments infrastructure to complement their expertise in providing efficient and reliable solutions for over 150,000 clients to transfer money to more than 125 markets worldwide,” said Andrew Fundell, CEO of GC Partners.

One of GC Partners’ key strengths lies in its advanced platform, featuring portals designed for private, corporate, and investment clients. These portals provide an efficient, secure, and adaptable way for clients to transact globally. By leveraging GC Partners’ cutting-edge technology and expertise, Montreux aims to enhance its own capabilities and deliver even greater value to clients.

“We are pleased to announce the acquisition of GC Partners, a prominent player in the FX and payments market,” said Oliver Harris, CEO of Montreux. “This strategic move aligns with our vision to expand our presence in the financial services industry and positions us to capitalise on this growing market. Leveraging GC Partners’ expertise, we anticipate rapid global growth as we plan to treble the size of the business over the coming years.”

Contact Information:
GC Partners
info@gcpartners.co
https://www.gcpartners.co/

The MIL Network –

January 25, 2025

MIL-OSI: Southside Bancshares, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2024

Source: GlobeNewswire (MIL-OSI)

Third quarter net income of $20.5 million;
Third quarter earnings per diluted common share of $0.68;
Annualized return on third quarter average assets of 0.98%;
Annualized return on third quarter average tangible common equity of 13.69%⁽¹⁾; and
Nonperforming assets remain low at 0.09% of total assets.

TYLER, Texas, Oct. 24, 2024 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside” or the “Company”) (NASDAQ: SBSI) today reported its financial results for the quarter ended September 30, 2024. Southside reported net income of $20.5 million for the three months ended September 30, 2024, an increase of $2.1 million, or 11.2%, compared to $18.4 million for the same period in 2023. Earnings per diluted common share increased $0.08, or 13.3%, to $0.68 for the three months ended September 30, 2024, from $0.60 for the same period in 2023. The annualized return on average shareholders’ equity for the three months ended September 30, 2024, was 10.13%, compared to 9.50% for the same period in 2023. The annualized return on average assets was 0.98% for the three months ended September 30, 2024, compared to 0.93% for the same period in 2023.

“Third quarter financial results were highlighted by a linked quarter $1.86 million increase in net interest income, a linked quarter eight basis point increase in our net interest margin to 2.95%, earnings per share of $0.68, a 13.69% return on average tangible equity⁽¹⁾, and continued strong asset quality,” stated Lee R. Gibson, Chief Executive Officer of Southside. “During the quarter we sold $28 million of lower yielding municipal securities, unwound the related fair value swaps and recorded a loss of $1.9 million. The proceeds were reinvested in higher yielding agency mortgage-backed securities. In addition, we recorded an impairment charge of $868,000 on the sale of approximately $10 million of available for sale (“AFS”) municipal securities and the unwind of the related fair value swaps on October 1.”

Operating Results for the Three Months Ended September 30, 2024

Net income was $20.5 million for the three months ended September 30, 2024, compared to $18.4 million for the same period in 2023, an increase of $2.1 million, or 11.2%. Earnings per diluted common share were $0.68 and $0.60 for the three months ended September 30, 2024 and 2023, respectively. The increase in net income was a result of the increase in net interest income and the decrease in provision for credit losses, partially offset by the decrease in noninterest income and increases in noninterest expense and income tax expense. Annualized returns on average assets and average shareholders’ equity for the three months ended September 30, 2024 were 0.98% and 10.13%, respectively, compared to 0.93% and 9.50%, respectively, for the three months ended September 30, 2023. Our efficiency ratio and tax-equivalent efficiency ratio⁽¹⁾ were 53.94% and 51.90%, respectively, for the three months ended September 30, 2024, compared to 54.86% and 52.29%, respectively, for the three months ended September 30, 2023, and 54.90% and 52.71%, respectively, for the three months ended June 30, 2024.

Net interest income for the three months ended September 30, 2024 was $55.5 million, an increase of $2.2 million, or 4.1%, from the same period in 2023. The increase in net interest income was due to the increases in the average balance and the average yield of interest earning assets, partially offset by increases in the average rate paid on our interest bearing liabilities and average balance of our interest bearing liabilities. Linked quarter, net interest income increased $1.9 million, or 3.5%, compared to $53.6 million during the three months ended June 30, 2024, largely due to the increase in the average yield on our interest earning assets and the decrease in the average rate paid on our interest bearing liabilities, partially offset by the decrease in the average balance of interest earning assets.

Our net interest margin and tax-equivalent net interest margin⁽¹⁾ decreased to 2.82% and 2.95%, respectively, for the three months ended September 30, 2024, compared to 2.85% and 3.02%, respectively, for the same period in 2023. Linked quarter, net interest margin and tax-equivalent net interest margin⁽¹⁾ increased from 2.74% and 2.87%, respectively for the three months ended June 30, 2024.

Noninterest income was $8.2 million for the three months ended September 30, 2024, a decrease of $2.7 million, or 24.6%, compared to $10.8 million for the same period in 2023. The decrease was due to a net loss on sale of securities AFS and decreases in other noninterest income and deposit services income, partially offset by an increase in brokerage services income. On a linked quarter basis, noninterest income decreased $3.4 million, or 29.3%, compared to the three months ended June 30, 2024. The decrease was primarily due to an increase in net loss on sale of securities AFS and decreases in other noninterest income and bank owned life insurance income related to a $1.0 million death benefit realized in the second quarter of 2024. The decrease in other noninterest income for both periods was primarily due to an impairment charge of $868,000 on the sale of approximately $10 million of AFS municipal securities and the unwind of the related fair value swaps on October 1.

Noninterest expense increased $0.8 million, or 2.2%, to $36.3 million for the three months ended September 30, 2024, compared to $35.6 million for the same period in 2023, due to increases in salaries and employee benefits and software and data processing expense, partially offset by decreases in advertising, travel and entertainment expense, professional fees, net occupancy expense and amortization of intangibles. On a linked quarter basis, noninterest expense increased by $0.6 million, or 1.6%, compared to the three months ended June 30, 2024, due to increases in other noninterest expense, salaries and employee benefits expense and professional fees.

Income tax expense increased $1.3 million, or 40.7%, for the three months ended September 30, 2024, compared to the same period in 2023. On a linked quarter basis, income tax expense decreased $0.8 million, or 15.8%. Our effective tax rate (“ETR”) increased to 17.6% for the three months ended September 30, 2024, compared to 14.5% for the three months ended September 30, 2023, and increased slightly from 17.4% for the three months ended June 30, 2024. The higher ETR for the three months ended September 30, 2024 compared to the same period in 2023, was primarily due to a decrease in tax-exempt income as a percentage of pre-tax income.

Operating Results for the Nine Months Ended September 30, 2024

Net income was $66.7 million for the nine months ended September 30, 2024, compared to $69.4 million for the same period in 2023, a decrease of $2.7 million, or 3.8%. Earnings per diluted common share were $2.20 for the nine months ended September 30, 2024, compared to $2.24 for the same period in 2023, a decrease of 1.8%. The decrease in net income was primarily a result of the decrease in noninterest income and increases in noninterest expense and income tax expense, partially offset by the decrease in provision for credit losses and the increase in net interest income. Returns on average assets and average shareholders’ equity for the nine months ended September 30, 2024 were 1.06% and 11.19%, respectively, compared to 1.20% and 12.21%, respectively, for the nine months ended September 30, 2023. Our efficiency ratio and tax-equivalent efficiency ratio⁽¹⁾ were 55.56% and 53.35%, respectively, for the nine months ended September 30, 2024, compared to 53.99% and 51.44%, respectively, for the nine months ended September 30, 2023.

Net interest income was $162.4 million for the nine months ended September 30, 2024, compared to $160.5 million for the same period in 2023, an increase of $1.9 million, or 1.2%, due to increases in the average balance and the average yield of interest earning assets, partially offset by increases in the average rate paid on our interest bearing liabilities and average balance of our interest bearing liabilities.

Our net interest margin and tax-equivalent net interest margin⁽¹⁾ were 2.76% and 2.90%, respectively, for the nine months ended September 30, 2024, compared to 2.95% and 3.13%, respectively, for the same period in 2023.

Noninterest income was $29.5 million for the nine months ended September 30, 2024, a decrease of $3.9 million, or 11.6%, compared to $33.3 million for the same period in 2023. The decrease was due to decreases in the net gain on sale of equity securities, other noninterest income and deposit services income and a loss on sale of loans, partially offset by a decrease in net loss on sale of securities AFS and an increase in brokerage services income. The decrease in other noninterest income was primarily due to an impairment charge of $868,000 on the sale of approximately $10 million of AFS municipal securities and the unwind of the related fair value swaps on October 1.

Noninterest expense was $109.0 million for the nine months ended September 30, 2024, compared to $105.4 million for the same period in 2023, an increase of $3.6 million, or 3.4%. The increase was primarily due to increases in salaries and employee benefits and software and data processing expense, partially offset by decreases in professional fees, net occupancy expense, advertising, travel and entertainment expense, and amortization of intangibles.

Income tax expense increased $2.0 million, or 16.3%, for the nine months ended September 30, 2024, compared to the same period in 2023. Our ETR was approximately 17.6% and 15.0% for the nine months ended September 30, 2024 and 2023, respectively. The higher ETR for the nine months ended September 30, 2024, as compared to the same period in 2023, was primarily due to a decrease in tax-exempt income as a percentage of pre-tax income.

Balance Sheet Data

At September 30, 2024, Southside had $8.36 billion in total assets, compared to $8.28 billion at December 31, 2023 and $7.97 billion at September 30, 2023.

Loans at September 30, 2024 were $4.58 billion, an increase of $157.4 million, or 3.6%, compared to $4.42 billion at September 30, 2023. Linked quarter, loans decreased $11.3 million, or 0.2%, due to decreases of $50.2 million in commercial real estate loans, $14.9 million in municipal loans, $2.4 million in loans to individuals and $1.0 million in commercial loans. These decreases were partially offset by increases of $39.8 million in construction loans and $17.4 million in 1-4 family residential loans.

Securities at September 30, 2024 were $2.70 billion, an increase of $53.4 million, or 2.0%, compared to $2.64 billion at September 30, 2023. Linked quarter, securities decreased $15.1 million, or 0.6%, from $2.71 billion at June 30, 2024.

Deposits at September 30, 2024 were $6.44 billion, an increase of $86.1 million, or 1.4%, compared to $6.35 billion at September 30, 2023. Linked quarter, deposits decreased $60.2 million, or 0.9%, from $6.50 billion at June 30, 2024.

At September 30, 2024, we had 179,214 total deposit accounts with an average balance of $32,000. Our estimated uninsured deposits were 35.9% as of September 30, 2024. When excluding affiliate deposits (Southside-owned deposits) and public fund deposits (all collateralized), our total estimated deposits without insurance or collateral was 19.2% as of September 30, 2024. Our noninterest bearing deposits represent approximately 21.4% of total deposits. Linked quarter, our cost of interest bearing deposits remained consistent at 3.01%. Linked quarter, our cost of total deposits decreased one basis point from 2.39% in the prior quarter to 2.38%.

Our cost of interest bearing deposits increased 83 basis points, from 2.16% for the nine months ended September 30, 2023, to 2.99% for the nine months ended September 30, 2024. Our cost of total deposits increased 75 basis points, from 1.62% for the nine months ended September 30, 2023, to 2.37% for the nine months ended September 30, 2024.

Capital Resources and Liquidity

Our capital ratios and contingent liquidity sources remain solid. During the third quarter ended September 30, 2024, we did not purchase any common stock pursuant to our Stock Repurchase Plan. Under this plan, repurchases of our outstanding common stock may be carried out in open market purchases, privately negotiated transactions or pursuant to any trading plan that might be adopted in accordance with Rule 10b5-1 of The Securities Exchange Act of 1934, as amended. The Company has no obligation to repurchase any shares under the Stock Repurchase Plan and may modify, suspend or discontinue the plan at any time. We have not purchased any common stock pursuant to the Stock Repurchase Plan subsequent to September 30, 2024.

As of September 30, 2024, our total available contingent liquidity, net of current outstanding borrowings, was $2.23 billion, consisting of FHLB advances, Federal Reserve Discount Window and correspondent bank lines of credit.

Asset Quality

Nonperforming assets at September 30, 2024 were $7.7 million, or 0.09% of total assets, an increase of $3.3 million, or 74.8%, compared to $4.4 million, or 0.05% of total assets, at September 30, 2023. Linked quarter, nonperforming assets increased $0.7 million, or 10.7%, from $6.9 million at June 30, 2024 due primarily to an increase of $1.1 million, or 18.7%, in nonaccrual loans, partially offset by decreases of $0.1 million in restructured loans and $0.3 million in other real estate owned.

The allowance for loan losses totaled $44.3 million, or 0.97% of total loans, at September 30, 2024, compared to $42.4 million, or 0.92% of total loans, at June 30, 2024. The increase in the allowance as a percentage of total assets was primarily due to the increased economic concerns forecasted in the CECL model specific to office and multifamily markets in metro areas. The allowance for loan losses was $41.8 million, or 0.94% of total loans, at September 30, 2023.

For the three months ended September 30, 2024, we recorded a provision for credit losses for loans of $2.3 million, compared to a provision of $6.3 million for the three months ended September 30, 2023, and a reversal of provision of $0.9 million for the three months ended June 30, 2024. Net charge-offs were $0.4 million for the three months ended September 30, 2024, compared to net charge-offs of $0.9 million and $0.3 million for the three months ended September 30, 2023 and June 30, 2024, respectively. Net charge-offs were $1.0 million for the nine months ended September 30, 2024, compared to net charge-offs of $1.5 million for the nine months ended September 30, 2023.

We recorded a provision for credit losses on off-balance-sheet credit exposures of $0.1 million for the three months ended September 30, 2024, compared to $0.6 million and $0.4 million for the three months ended September 30, 2023 and June 30, 2024, respectively. We recorded a reversal of provision for credit losses for off-balance-sheet credit exposures of $0.6 million for the nine months ended September 30, 2024, compared to a provision for credit losses on off-balance-sheet credit exposures of $0.2 million for the nine months ended September 30, 2023. The balance of the allowance for off-balance-sheet credit exposures was $3.3 million and $3.9 million at September 30, 2024 and 2023, respectively, and is included in other liabilities.

Dividend

Southside Bancshares, Inc. declared a third quarter cash dividend of $0.36 per share on August 8, 2024, which was paid on September 5, 2024, to all shareholders of record as of August 22, 2024.

_______________

^{(1) Refer to “Non-GAAP Financial Measures” below and to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for more information and for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.}

Conference Call

Southside’s management team will host a conference call to discuss its third quarter ended September 30, 2024 financial results on Thursday, October 24, 2024 at 11:00 a.m. CDT. The conference call can be accessed by webcast, for listen-only mode, on the company website, https://investors.southside.com, under Events.

Those interested in participating in the question and answer session, or others who prefer to call-in, can register at https://register.vevent.com/register/BIe280e5ecbf444a68a5836f1e27caa8a9 to receive the dial-in number and unique code to access the conference call seamlessly. While not required, it is recommended that those wishing to participate, register 10 minutes prior to the conference call to ensure a more efficient registration process.

For those unable to attend the live event, a webcast recording will be available on the company website, https://investors.southside.com, for at least 30 days, beginning approximately two hours following the conference call.

Non-GAAP Financial Measures

Our accounting and reporting policies conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of our performance. These include the following fully taxable-equivalent measures (“FTE”): (i) Net interest income (FTE), (ii) net interest margin (FTE), (iii) net interest spread (FTE), and (iv) efficiency ratio (FTE), which include the effects of taxable-equivalent adjustments using a federal income tax rate of 21% to increase tax-exempt interest income to a tax-equivalent basis. Interest income earned on certain assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments.

Net interest income (FTE), net interest margin (FTE) and net interest spread (FTE). Net interest income (FTE) is a non-GAAP measure that adjusts for the tax-favored status of net interest income from certain loans and investments and is not permitted under GAAP in the consolidated statements of income. We believe this measure to be the preferred industry measurement of net interest income and that it enhances comparability of net interest income arising from taxable and tax-exempt sources. The most directly comparable financial measure calculated in accordance with GAAP is our net interest income. Net interest margin (FTE) is the ratio of net interest income (FTE) to average earning assets. The most directly comparable financial measure calculated in accordance with GAAP is our net interest margin. Net interest spread (FTE) is the difference in the average yield on average earning assets on a tax-equivalent basis and the average rate paid on average interest bearing liabilities. The most directly comparable financial measure calculated in accordance with GAAP is our net interest spread.

Efficiency ratio (FTE). The efficiency ratio (FTE) is a non-GAAP measure that provides a measure of productivity in the banking industry. This ratio is calculated to measure the cost of generating one dollar of revenue. The ratio is designed to reflect the percentage of one dollar which must be expended to generate that dollar of revenue. We calculate this ratio by dividing noninterest expense, excluding amortization expense on intangibles and certain nonrecurring expense by the sum of net interest income (FTE) and noninterest income, excluding net gain (loss) on sale of securities available for sale and certain nonrecurring impairments. The most directly comparable financial measure calculated in accordance with GAAP is our efficiency ratio.

These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. Whenever we present a non-GAAP financial measure in an SEC filing, we are also required to present the most directly comparable financial measure calculated and presented in accordance with GAAP and reconcile the differences between the non-GAAP financial measure and such comparable GAAP measure.

Management believes adjusting net interest income, net interest margin and net interest spread to a fully taxable-equivalent basis is a standard practice in the banking industry as these measures provide useful information to make peer comparisons. Tax-equivalent adjustments are reflected in the respective earning asset categories as listed in the “Average Balances with Average Yields and Rates” tables.

A reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company with approximately $8.36 billion in assets as of September 30, 2024, that owns 100% of Southside Bank. Southside Bank currently has 54 branches in Texas and operates a network of 73 ATMs/ITMs.

To learn more about Southside Bancshares, Inc., please visit our investor relations website at https://investors.southside.com. Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data. To receive email notification of company news, events and stock activity, please register on the website under Resources and Investor Email Alerts. Questions or comments may be directed to Lindsey Bailes at (903) 630-7965, or lindsey.bailes@southside.com.

Forward-Looking Statements

Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be “forward-looking statements” within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. These statements may include words such as “expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,” “could,” “should,” “may,” “might,” “will,” “would,” “seek,” “intend,” “probability,” “risk,” “goal,” “target,” “objective,” “plans,” “potential,” and similar expressions. Forward-looking statements are statements with respect to the Company’s beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company’s actual results to differ materially from the results discussed in the forward-looking statements. For example, benefits of the Share Repurchase Plan, trends in asset quality, capital, liquidity, the Company’s ability to sell nonperforming assets, expense reductions, planned operational efficiencies and earnings from growth and certain market risk disclosures, including the impact of interest rates and our expectations regarding rate increases, tax reform, inflation, the impacts related to or resulting from other economic factors are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future. Accordingly, our results could materially differ from those that have been estimated. The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of higher inflation levels, interest rate fluctuations and general economic and recessionary concerns, all of which could impact economic growth and could cause a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, our ability to manage liquidity in a rapidly changing and unpredictable market, labor shortages and changes in interest rates by the Federal Reserve.

Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, under “Part I – Item 1. Forward Looking Information” and “Part I – Item 1A. Risk Factors” and in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.


Southside Bancshares, Inc. Consolidated Financial Summary (Unaudited) (Dollars in thousands)

	As of
		2024									2023
	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
ASSETS
Cash and due from banks	$	130,147		$	114,283		$	96,744		$	122,021		$	105,601
Interest earning deposits		333,825			272,469			307,257			391,719			106,094
Federal funds sold		22,325			65,244			65,372			46,770			114,128
Securities available for sale, at estimated fair value		1,408,437			1,405,944			1,405,221			1,296,294			1,335,560
Securities held to maturity, at net carrying value		1,288,403			1,305,975			1,306,898			1,307,053			1,307,886
Total securities		2,696,840			2,711,919			2,712,119			2,603,347			2,643,446
Federal Home Loan Bank stock, at cost		40,291			32,991			27,958			11,936			12,778
Loans held for sale		768			1,352			756			10,894			1,382
Loans		4,578,048			4,589,365			4,577,368			4,524,510			4,420,633
Less: Allowance for loan losses		(44,276	)		(42,407	)		(43,557	)		(42,674	)		(41,760	)
Net loans		4,533,772			4,546,958			4,533,811			4,481,836			4,378,873
Premises & equipment, net		138,811			138,489			139,491			138,950			139,473
Goodwill		201,116			201,116			201,116			201,116			201,116
Other intangible assets, net		2,003			2,281			2,588			2,925			3,295
Bank owned life insurance		137,489			136,903			136,604			136,330			135,737
Other assets		124,876			133,697			130,047			137,070			130,545
Total assets	$	8,362,263		$	8,357,702		$	8,353,863		$	8,284,914		$	7,972,468

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest bearing deposits	$	1,377,022		$	1,366,924		$	1,358,827		$	1,390,407		$	1,431,285
Interest bearing deposits		5,058,680			5,129,008			5,186,933			5,159,274			4,918,286
Total deposits		6,435,702			6,495,932			6,545,760			6,549,681			6,349,571
Other borrowings and Federal Home Loan Bank borrowings		865,856			763,700			770,151			722,468			608,038
Subordinated notes, net of unamortized debt issuance costs		92,006			91,970			93,913			93,877			93,838
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,273			60,272			60,271			60,270			60,269
Other liabilities		103,172			144,858			95,846			85,330			132,157
Total liabilities		7,557,009			7,556,732			7,565,941			7,511,626			7,243,873
Shareholders’ equity		805,254			800,970			787,922			773,288			728,595
Total liabilities and shareholders’ equity	$	8,362,263		$	8,357,702		$	8,353,863		$	8,284,914		$	7,972,468


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars and shares in thousands, except per share data)

	Three Months Ended
		2024									2023
	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
Income Statement:
Total interest income	$	105,703		$	104,186		$	102,758		$	98,939		$	93,078
Total interest expense		50,239			50,578			49,410			44,454			39,805
Net interest income		55,464			53,608			53,348			54,485			53,273
Provision for (reversal of) credit losses		2,389			(485	)		58			2,281			6,987
Net interest income after provision for (reversal of) credit losses		53,075			54,093			53,290			52,204			46,286
Noninterest income
Deposit services		6,199			6,157			5,985			6,305			6,479
Net gain (loss) on sale of securities available for sale		(1,929	)		(563	)		(18	)		(10,386	)		11
Gain (loss) on sale of loans		115			220			(436	)		178			96
Trust fees		1,628			1,456			1,336			1,431			1,522
Bank owned life insurance		857			1,767			784			2,602			790
Brokerage services		1,068			1,081			1,014			944			760
Other		233			1,439			1,059			1,427			1,178
Total noninterest income		8,171			11,557			9,724			2,501			10,836
Noninterest expense
Salaries and employee benefits		22,233			21,984			23,113			21,152			21,241
Net occupancy		3,613			3,750			3,362			3,474			3,796
Advertising, travel & entertainment		734			795			950			1,127			1,062
ATM expense		412			368			325			318			358
Professional fees		1,206			1,075			1,154			1,315			1,472
Software and data processing		2,951			2,860			2,856			2,644			2,432
Communications		423			410			449			435			359
FDIC insurance		939			977			943			892			902
Amortization of intangibles		278			307			337			370			407
Other		3,543			3,239			3,392			3,456			3,524
Total noninterest expense		36,332			35,765			36,881			35,183			35,553
Income before income tax expense		24,914			29,885			26,133			19,522			21,569
Income tax expense		4,390			5,212			4,622			2,206			3,120
Net income	$	20,524		$	24,673		$	21,511		$	17,316		$	18,449

Common Share Data:
Weighted-average basic shares outstanding		30,286			30,280			30,262			30,235			30,502
Weighted-average diluted shares outstanding		30,370			30,312			30,305			30,276			30,543
Common shares outstanding end of period		30,308			30,261			30,284			30,249			30,338
Earnings per common share
Basic	$	0.68		$	0.81		$	0.71		$	0.57		$	0.60
Diluted		0.68			0.81			0.71			0.57			0.60
Book value per common share		26.57			26.47			26.02			25.56			24.02
Tangible book value per common share		19.87			19.75			19.29			18.82			17.28
Cash dividends paid per common share		0.36			0.36			0.36			0.37			0.35

Selected Performance Ratios:
Return on average assets		0.98	%		1.19	%		1.03	%		0.85	%		0.93	%
Return on average shareholders’ equity		10.13			12.46			11.02			9.31			9.50
Return on average tangible common equity ⁽¹⁾		13.69			16.90			15.07			13.10			13.17
Average yield on earning assets (FTE) ⁽¹⁾		5.51			5.45			5.38			5.30			5.15
Average rate on interest bearing liabilities		3.28			3.32			3.22			3.04			2.84
Net interest margin (FTE) ⁽¹⁾		2.95			2.87			2.86			2.99			3.02
Net interest spread (FTE) ⁽¹⁾		2.23			2.13			2.16			2.26			2.31
Average earning assets to average interest bearing liabilities		128.51			128.62			127.71			131.65			133.24
Noninterest expense to average total assets		1.73			1.72			1.77			1.73			1.79
Efficiency ratio (FTE) ⁽¹⁾		51.90			52.71			55.54			50.86			52.29

^{(1) Refer to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.}


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Three Months Ended
		2024									2023
	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
Nonperforming Assets:	$	7,656		$	6,918		$	7,979		$	4,001		$	4,381
Nonaccrual loans		7,254			6,110			7,709			3,889			4,316
Accruing loans past due more than 90 days		—			—			—			—			—
Restructured loans		—			145			151			13			15
Other real estate owned		388			648			119			99			50
Repossessed assets		14			15			—			—			—

Asset Quality Ratios:
Ratio of nonaccruing loans to:
Total loans		0.16	%		0.13	%		0.17	%		0.09	%		0.10	%
Ratio of nonperforming assets to:
Total assets		0.09			0.08			0.10			0.05			0.05
Total loans		0.17			0.15			0.17			0.09			0.10
Total loans and OREO		0.17			0.15			0.17			0.09			0.10
Ratio of allowance for loan losses to:
Nonaccruing loans		610.37			694.06			565.01			1,097.30			967.56
Nonperforming assets		578.32			613.00			545.90			1,066.58			953.21
Total loans		0.97			0.92			0.95			0.94			0.94
Net charge-offs (recoveries) to average loans outstanding		0.04			0.02			0.03			0.11			0.08

Capital Ratios:
Shareholders’ equity to total assets		9.63			9.58			9.43			9.33			9.14
Common equity tier 1 capital		13.07			12.72			12.43			12.28			12.27
Tier 1 risk-based capital		14.12			13.76			13.47			13.32			13.31
Total risk-based capital		16.59			16.16			15.92			15.73			15.71
Tier 1 leverage capital		9.61			9.40			9.22			9.39			9.61
Period end tangible equity to period end tangible assets ⁽¹⁾		7.38			7.33			7.17			7.04			6.75
Average shareholders’ equity to average total assets		9.67			9.52			9.35			9.13			9.76

^{(1) Refer to the “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.}


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Three Months Ended
		2024									2023
Loan Portfolio Composition	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
Real Estate Loans:
Construction	$	585,817		$	546,040		$	599,464		$	789,744		$	720,515
1-4 Family Residential		755,406			738,037			720,508			696,738			689,492
Commercial		2,422,612			2,472,771			2,413,345			2,168,451			2,117,306
Commercial Loans		358,854			359,807			358,053			366,893			385,816
Municipal Loans		402,041			416,986			427,225			441,168			441,512
Loans to Individuals		53,318			55,724			58,773			61,516			65,992
Total Loans	$	4,578,048		$	4,589,365		$	4,577,368		$	4,524,510		$	4,420,633

Summary of Changes in Allowances:
Allowance for Loan Losses
Balance at beginning of period	$	42,407		$	43,557		$	42,674		$	41,760		$	36,303
Loans charged-off		(773	)		(721	)		(634	)		(1,572	)		(1,262	)
Recoveries of loans charged-off		365			444			347			284			378
Net loans (charged-off) recovered		(408	)		(277	)		(287	)		(1,288	)		(884	)
Provision for (reversal of) loan losses		2,277			(873	)		1,170			2,202			6,341
Balance at end of period	$	44,276		$	42,407		$	43,557		$	42,674		$	41,760

Allowance for Off-Balance-Sheet Credit Exposures
Balance at beginning of period	$	3,208		$	2,820		$	3,932		$	3,853		$	3,207
Provision for (reversal of) off-balance-sheet credit exposures		112			388			(1,112	)		79			646
Balance at end of period	$	3,320		$	3,208		$	2,820		$	3,932		$	3,853
Total Allowance for Credit Losses	$	47,596		$	45,615		$	46,377		$	46,606		$	45,613


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Nine Months Ended
	September 30,
		2024			2023
Income Statement:
Total interest income	$	312,647		$	260,802
Total interest expense		150,227			100,260
Net interest income		162,420			160,542
Provision for (reversal of) credit losses		1,962			6,873
Net interest income after provision for (reversal of) credit losses		160,458			153,669
Noninterest income
Deposit services		18,341			19,192
Net gain (loss) on sale of securities available for sale		(2,510	)		(5,590	)
Net gain on sale of equity securities		—			5,058
Gain (loss) on sale of loans		(101	)		385
Trust fees		4,420			4,479
Bank owned life insurance		3,408			3,221
Brokerage services		3,163			2,361
Other		2,731			4,227
Total noninterest income		29,452			33,333
Noninterest expense
Salaries and employee benefits		67,330			64,473
Net occupancy		10,725			11,220
Advertising, travel & entertainment		2,479			2,966
ATM expense		1,105			1,033
Professional fees		3,435			4,036
Software and data processing		8,667			6,751
Communications		1,282			1,034
FDIC insurance		2,859			2,666
Amortization of intangibles		922			1,327
Other		10,174			9,889
Total noninterest expense		108,978			105,395
Income before income tax expense		80,932			81,607
Income tax expense		14,224			12,231
Net income	$	66,708		$	69,376
Common Share Data:
Weighted-average basic shares outstanding		30,276			30,862
Weighted-average diluted shares outstanding		30,332			30,916
Common shares outstanding end of period		30,308			30,338
Earnings per common share
Basic	$	2.20		$	2.25
Diluted		2.20			2.24
Book value per common share		26.57			24.02
Tangible book value per common share		19.87			17.28
Cash dividends paid per common share		1.08			1.05

Selected Performance Ratios:
Return on average assets		1.06	%		1.20	%
Return on average shareholders’ equity		11.19			12.21
Return on average tangible common equity ⁽¹⁾		15.20			16.98
Average yield on earning assets (FTE) ⁽¹⁾		5.45			4.97
Average rate on interest bearing liabilities		3.27			2.49
Net interest margin (FTE) ⁽¹⁾		2.90			3.13
Net interest spread (FTE) ⁽¹⁾		2.18			2.48
Average earning assets to average interest bearing liabilities		128.28			134.94
Noninterest expense to average total assets		1.74			1.84
Efficiency ratio (FTE) ⁽¹⁾		53.35			51.44


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Nine Months Ended
	September 30,
		2024			2023
Nonperforming Assets:	$	7,656		$	4,381
Nonaccrual loans		7,254			4,316
Accruing loans past due more than 90 days		—			—
Restructured loans		—			15
Other real estate owned		388			50
Repossessed assets		14			—

Asset Quality Ratios:
Ratio of nonaccruing loans to:
Total loans		0.16	%		0.10	%
Ratio of nonperforming assets to:
Total assets		0.09			0.05
Total loans		0.17			0.10
Total loans and OREO		0.17			0.10
Ratio of allowance for loan losses to:
Nonaccruing loans		610.37			967.56
Nonperforming assets		578.32			953.21
Total loans		0.97			0.94
Net charge-offs (recoveries) to average loans outstanding		0.03			0.05

Capital Ratios:
Shareholders’ equity to total assets		9.63			9.14
Common equity tier 1 capital		13.07			12.27
Tier 1 risk-based capital		14.12			13.31
Total risk-based capital		16.59			15.71
Tier 1 leverage capital		9.61			9.61
Period end tangible equity to period end tangible assets ⁽¹⁾		7.38			6.75
Average shareholders’ equity to average total assets		9.51			9.81


Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Nine Months Ended
	September 30,
Loan Portfolio Composition		2024			2023
Real Estate Loans:
Construction	$	585,817		$	720,515
1-4 Family Residential		755,406			689,492
Commercial		2,422,612			2,117,306
Commercial Loans		358,854			385,816
Municipal Loans		402,041			441,512
Loans to Individuals		53,318			65,992
Total Loans	$	4,578,048		$	4,420,633

Summary of Changes in Allowances:
Allowance for Loan Losses
Balance at beginning of period	$	42,674		$	36,515
Loans charged-off		(2,128	)		(2,632	)
Recoveries of loans charged-off		1,156			1,170
Net loans (charged-off) recovered		(972	)		(1,462	)
Provision for (reversal of) loan losses		2,574			6,707
Balance at end of period	$	44,276		$	41,760

Allowance for Off-Balance-Sheet Credit Exposures
Balance at beginning of period	$	3,932		$	3,687
Provision for (reversal of) off-balance-sheet credit exposures		(612	)		166
Balance at end of period	$	3,320		$	3,853
Total Allowance for Credit Losses	$	47,596		$	45,613

The tables that follow show average earning assets and interest bearing liabilities together with the average yield on the earning assets and the average rate of the interest bearing liabilities for the periods presented. The interest and related yields presented are on a fully taxable-equivalent basis and are therefore non-GAAP measures. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for more information.

Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	September 30, 2024							June 30, 2024
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
ASSETS
Loans ⁽¹⁾	$	4,613,028		$	72,493	6.25	%	$	4,595,980		$	70,293	6.15	%
Loans held for sale		871			11	5.02	%		1,489			24	6.48	%
Securities:
Taxable investment securities ⁽²⁾		791,914			7,150	3.59	%		783,856			7,009	3.60	%
Tax-exempt investment securities ⁽²⁾		1,174,445			11,825	4.01	%		1,254,097			12,761	4.09	%
Mortgage-backed and related securities ⁽²⁾		886,325			11,976	5.38	%		830,504			11,084	5.37	%
Total securities		2,852,684			30,951	4.32	%		2,868,457			30,854	4.33	%
Federal Home Loan Bank stock, at cost, and equity investments		41,159			582	5.63	%		40,467			573	5.69	%
Interest earning deposits		281,313			3,798	5.37	%		300,047			4,105	5.50	%
Federal funds sold		33,971			488	5.71	%		75,479			1,021	5.44	%
Total earning assets		7,823,026			108,323	5.51	%		7,881,919			106,870	5.45	%
Cash and due from banks		100,578							110,102
Accrued interest and other assets		455,091							424,323
Less: Allowance for loan losses		(42,581	)						(43,738	)
Total assets	$	8,336,114						$	8,372,606
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	598,116			1,490	0.99	%	$	604,753			1,454	0.97	%
Certificates of deposit		1,087,613			12,647	4.63	%		1,020,099			11,630	4.59	%
Interest bearing demand accounts		3,409,911			24,395	2.85	%		3,513,068			25,382	2.91	%
Total interest bearing deposits		5,095,640			38,532	3.01	%		5,137,920			38,466	3.01	%
Federal Home Loan Bank borrowings		618,708			6,488	4.17	%		606,851			6,455	4.28	%
Subordinated notes, net of unamortized debt issuance costs		91,988			937	4.05	%		92,017			936	4.09	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,273			1,180	7.79	%		60,271			1,171	7.81	%
Repurchase agreements		83,297			899	4.29	%		88,007			955	4.36	%
Other borrowings		137,482			2,203	6.37	%		143,169			2,595	7.29	%
Total interest bearing liabilities		6,087,388			50,239	3.28	%		6,128,235			50,578	3.32	%
Noninterest bearing deposits		1,344,165							1,346,274
Accrued expenses and other liabilities		98,331							101,399
Total liabilities		7,529,884							7,575,908
Shareholders’ equity		806,230							796,698
Total liabilities and shareholders’ equity	$	8,336,114						$	8,372,606
Net interest income (FTE)				$	58,084						$	56,292
Net interest margin (FTE)						2.95	%						2.87	%
Net interest spread (FTE)						2.23	%						2.13	%

^{(1) Interest on loans includes net fees on loans that are not material in amount.}
^{(2) For the purpose of calculating the average yield, the average balance of securities is presented at historical cost.}

^{Note: As of September 30, 2024 and June 30, 2024, loans totaling $7.3 million and $6.1 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.}


Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	March 31, 2024							December 31, 2023
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
ASSETS
Loans ⁽¹⁾	$	4,559,602		$	68,849	6.07	%	$	4,473,618		$	67,886	6.02	%
Loans held for sale		8,834			18	0.82	%		1,858			27	5.77	%
Securities:
Taxable investment securities ⁽²⁾		780,423			6,967	3.59	%		852,023			7,970	3.71	%
Tax-exempt investment securities ⁽²⁾		1,285,922			13,168	4.12	%		1,456,187			15,688	4.27	%
Mortgage-backed and related securities ⁽²⁾		764,713			10,119	5.32	%		581,548			6,865	4.68	%
Total securities		2,831,058			30,254	4.30	%		2,889,758			30,523	4.19	%
Federal Home Loan Bank stock, at cost, and equity investments		40,063			333	3.34	%		24,674			296	4.76	%
Interest earning deposits		380,181			5,202	5.50	%		150,763			2,054	5.41	%
Federal funds sold		62,599			838	5.38	%		93,149			1,286	5.48	%
Total earning assets		7,882,337			105,494	5.38	%		7,633,820			102,072	5.30	%
Cash and due from banks		114,379							110,380
Accrued interest and other assets		441,783							374,120
Less: Allowance for loan losses		(42,973	)						(41,822	)
Total assets	$	8,395,526						$	8,076,498
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	604,529			1,424	0.95	%	$	610,453			1,432	0.93	%
Certificates of deposit		941,947			10,341	4.42	%		910,759			9,691	4.22	%
Interest bearing demand accounts		3,634,936			26,433	2.92	%		3,469,120			24,498	2.80	%
Total interest bearing deposits		5,181,412			38,198	2.97	%		4,990,332			35,621	2.83	%
Federal Home Loan Bank borrowings		607,033			5,950	3.94	%		262,709			1,430	2.16	%
Subordinated notes, net of unamortized debt issuance costs		93,895			956	4.10	%		93,859			965	4.08	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,270			1,175	7.84	%		60,269			1,195	7.87	%
Repurchase agreements		92,177			967	4.22	%		96,622			1,008	4.14	%
Other borrowings		137,287			2,164	6.34	%		294,683			4,235	5.70	%
Total interest bearing liabilities		6,172,074			49,410	3.22	%		5,798,474			44,454	3.04	%
Noninterest bearing deposits		1,338,384							1,424,961
Accrued expenses and other liabilities		100,014							115,388
Total liabilities		7,610,472							7,338,823
Shareholders’ equity		785,054							737,675
Total liabilities and shareholders’ equity	$	8,395,526						$	8,076,498
Net interest income (FTE)				$	56,084						$	57,618
Net interest margin (FTE)						2.86	%						2.99	%
Net interest spread (FTE)						2.16	%						2.26	%

^{Note: As of March 31, 2024 and December 31, 2023, loans totaling $7.7 million and $3.9 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.}


Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	September 30, 2023
	Average Balance			Interest		Average Yield/Rate
ASSETS
Loans ⁽¹⁾	$	4,396,184		$	64,758	5.84	%
Loans held for sale		1,537			26	6.71	%
Securities:
Taxable investment securities ⁽²⁾		912,789			8,731	3.79	%
Tax-exempt investment securities ⁽²⁾		1,510,044			16,232	4.26	%
Mortgage-backed and related securities ⁽²⁾		442,908			4,426	3.96	%
Total securities		2,865,741			29,389	4.07	%
Federal Home Loan Bank stock, at cost, and equity investments		22,363			265	4.70	%
Interest earning deposits		37,891			535	5.60	%
Federal funds sold		94,441			1,253	5.26	%
Total earning assets		7,418,157			96,226	5.15	%
Cash and due from banks		106,348
Accrued interest and other assets		400,850
Less: Allowance for loan losses		(36,493	)
Total assets	$	7,888,862
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	622,246			1,458	0.93	%
Certificates of deposit		949,894			9,443	3.94	%
Interest bearing demand accounts		3,189,048			20,050	2.49	%
Total interest bearing deposits		4,761,188			30,951	2.58	%
Federal Home Loan Bank borrowings		230,184			1,174	2.02	%
Subordinated notes, net of unamortized debt issuance costs		93,817			962	4.07	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,268			1,178	7.75	%
Repurchase agreements		104,070			1,048	4.00	%
Other borrowings		317,913			4,492	5.61	%
Total interest bearing liabilities		5,567,440			39,805	2.84	%
Noninterest bearing deposits		1,441,738
Accrued expenses and other liabilities		109,490
Total liabilities		7,118,668
Shareholders’ equity		770,194
Total liabilities and shareholders’ equity	$	7,888,862
Net interest income (FTE)				$	56,421
Net interest margin (FTE)						3.02	%
Net interest spread (FTE)						2.31	%

^{Note: As of September 30, 2023, loans totaling $4.3 million were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.}


Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Nine Months Ended
	September 30, 2024							September 30, 2023
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
ASSETS
Loans ⁽¹⁾	$	4,589,621		$	211,635	6.16	%	$	4,241,676		$	179,545	5.66	%
Loans held for sale		3,721			53	1.90	%		1,620			69	5.69	%
Securities:
Taxable investment securities ⁽²⁾		785,422			21,126	3.59	%		843,846			23,216	3.68	%
Tax-exempt investment securities ⁽²⁾		1,237,884			37,754	4.07	%		1,587,656			48,880	4.12	%
Mortgage-backed and related securities ⁽²⁾		827,396			33,179	5.36	%		433,335			12,585	3.88	%
Total securities		2,850,702			92,059	4.31	%		2,864,837			84,681	3.95	%
Federal Home Loan Bank stock, at cost, and equity investments		40,565			1,488	4.90	%		25,071			889	4.74	%
Interest earning deposits		320,371			13,105	5.46	%		60,623			2,310	5.09	%
Federal funds sold		57,265			2,347	5.47	%		75,499			2,838	5.03	%
Total earning assets		7,862,245			320,687	5.45	%		7,269,326			270,332	4.97	%
Cash and due from banks		108,325							105,885
Accrued interest and other assets		440,340							406,160
Less: Allowance for loan losses		(43,096	)						(36,564	)
Total assets	$	8,367,814						$	7,744,807
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	602,450			4,368	0.97	%	$	645,415			4,201	0.87	%
Certificates of deposit		1,016,812			34,618	4.55	%		845,851			21,215	3.35	%
Interest bearing demand accounts		3,518,906			76,210	2.89	%		3,005,449			47,120	2.10	%
Total interest bearing deposits		5,138,168			115,196	2.99	%		4,496,715			72,536	2.16	%
Federal Home Loan Bank borrowings		610,893			18,893	4.13	%		281,260			5,347	2.54	%
Subordinated notes, net of unamortized debt issuance costs		92,631			2,829	4.08	%		96,753			2,955	4.08	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,271			3,526	7.81	%		60,266			3,309	7.34	%
Repurchase agreements		87,811			2,821	4.29	%		89,282			2,423	3.63	%
Other borrowings		139,306			6,962	6.68	%		362,684			13,690	5.05	%
Total interest bearing liabilities		6,129,080			150,227	3.27	%		5,386,960			100,260	2.49	%
Noninterest bearing deposits		1,342,945							1,506,431
Accrued expenses and other liabilities		99,758							91,784
Total liabilities		7,571,783							6,985,175
Shareholders’ equity		796,031							759,632
Total liabilities and shareholders’ equity	$	8,367,814						$	7,744,807
Net interest income (FTE)				$	170,460						$	170,072
Net interest margin (FTE)						2.90	%						3.13	%
Net interest spread (FTE)						2.18	%						2.48	%

^{Note: As of September 30, 2024 and 2023, loans totaling $7.3 million and $4.3 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.}

The following tables set forth the reconciliation of return on average common equity to return on average tangible common equity, book value per share to tangible book value per share, net interest income to net interest income adjusted to a fully taxable-equivalent basis assuming a 21% marginal tax rate for interest earned on tax-exempt assets such as municipal loans and investment securities, along with the calculation of total revenue, adjusted noninterest expense, efficiency ratio (FTE), net interest margin (FTE) and net interest spread (FTE) for the applicable periods presented.


Southside Bancshares, Inc. Non-GAAP Reconciliation (Unaudited) (Dollars and shares in thousands, except per share data)

	Three Months Ended															Nine Months Ended
		2024									2023						2024			2023
	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,			Sep 30,			Sep 30,
Reconciliation of return on average common equity to return on average tangible common equity:
Net income	$	20,524		$	24,673		$	21,511		$	17,316		$	18,449		$	66,708		$	69,376
After-tax amortization expense		220			243			266			292			322			728			1,048
Adjusted net income available to common shareholders	$	20,744		$	24,916		$	21,777		$	17,608		$	18,771		$	67,436		$	70,424

Average shareholders’ equity	$	806,230		$	796,698		$	785,054		$	737,675		$	770,194		$	796,031		$	759,632
Less: Average intangibles for the period		(203,288	)		(203,581	)		(203,910	)		(204,267	)		(204,658	)		(203,592	)		(205,096	)
Average tangible shareholders’ equity	$	602,942		$	593,117		$	581,144		$	533,408		$	565,536		$	592,439		$	554,536

Return on average tangible common equity		13.69	%		16.90	%		15.07	%		13.10	%		13.17	%		15.20	%		16.98	%

Reconciliation of book value per share to tangible book value per share:
Common equity at end of period	$	805,254		$	800,970		$	787,922		$	773,288		$	728,595		$	805,254		$	728,595
Less: Intangible assets at end of period		(203,119	)		(203,397	)		(203,704	)		(204,041	)		(204,411	)		(203,119	)		(204,411	)
Tangible common shareholders’ equity at end of period	$	602,135		$	597,573		$	584,218		$	569,247		$	524,184		$	602,135		$	524,184

Total assets at end of period	$	8,362,263		$	8,357,702		$	8,353,863		$	8,284,914		$	7,972,468		$	8,362,263		$	7,972,468
Less: Intangible assets at end of period		(203,119	)		(203,397	)		(203,704	)		(204,041	)		(204,411	)		(203,119	)		(204,411	)
Tangible assets at end of period	$	8,159,144		$	8,154,305		$	8,150,159		$	8,080,873		$	7,768,057		$	8,159,144		$	7,768,057

Period end tangible equity to period end tangible assets		7.38	%		7.33	%		7.17	%		7.04	%		6.75	%		7.38	%		6.75	%

Common shares outstanding end of period		30,308			30,261			30,284			30,249			30,338			30,308			30,338
Tangible book value per common share	$	19.87		$	19.75		$	19.29		$	18.82		$	17.28		$	19.87		$	17.28

Reconciliation of efficiency ratio to efficiency ratio (FTE), net interest margin to net interest margin (FTE) and net interest spread to net interest spread (FTE):
Net interest income (GAAP)	$	55,464		$	53,608		$	53,348		$	54,485		$	53,273		$	162,420		$	160,542
Tax-equivalent adjustments:
Loans		608			633			656			680			674			1,897			2,044
Tax-exempt investment securities		2,012			2,051			2,080			2,453			2,474			6,143			7,486
Net interest income (FTE) ⁽¹⁾		58,084			56,292			56,084			57,618			56,421			170,460			170,072
Noninterest income		8,171			11,557			9,724			2,501			10,836			29,452			33,333
Nonrecurring income ⁽²⁾		2,797			(576	)		18			8,376			(11	)		2,239			(1,006	)
Total revenue	$	69,052		$	67,273		$	65,826		$	68,495		$	67,246		$	202,151		$	202,399

Noninterest expense	$	36,332		$	35,765		$	36,881		$	35,183		$	35,553		$	108,978		$	105,395
Pre-tax amortization expense		(278	)		(307	)		(337	)		(370	)		(407	)		(922	)		(1,327	)
Nonrecurring expense ⁽³⁾		(219	)		2			17			22			17			(200	)		56
Adjusted noninterest expense	$	35,835		$	35,460		$	36,561		$	34,835		$	35,163		$	107,856		$	104,124

Efficiency ratio		53.94	%		54.90	%		57.95	%		53.30	%		54.86	%		55.56	%		53.99	%
Efficiency ratio (FTE) ⁽¹⁾		51.90	%		52.71	%		55.54	%		50.86	%		52.29	%		53.35	%		51.44	%

Average earning assets	$	7,823,026		$	7,881,919		$	7,882,337		$	7,633,820		$	7,418,157		$	7,862,245		$	7,269,326

Net interest margin		2.82	%		2.74	%		2.72	%		2.83	%		2.85	%		2.76	%		2.95	%
Net interest margin (FTE) ⁽¹⁾		2.95	%		2.87	%		2.86	%		2.99	%		3.02	%		2.90	%		3.13	%

Net interest spread		2.10	%		2.00	%		2.02	%		2.10	%		2.14	%		2.04	%		2.31	%
Net interest spread (FTE) ⁽¹⁾		2.23	%		2.13	%		2.16	%		2.26	%		2.31	%		2.18	%		2.48	%

^{(1)   These amounts are presented on a fully taxable-equivalent basis and are non-GAAP measures.}
^{(2)   These adjustments may include net gain or loss on sale of securities available for sale, net gain on sale of equity securities, BOLI income related to death benefits realized and other investment income or loss in the periods where applicable.}
^{(3)   These adjustments may include foreclosure expenses and branch closure expenses, in the periods where applicable.}

The MIL Network –

January 25, 2025

MIL-OSI: Equifax Canada Champions Financial Inclusion for Newcomers to Canada with the Launch of Global Consumer Credit File

Source: GlobeNewswire (MIL-OSI)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Equifax Canada has launched the Global Consumer Credit File, an innovative solution designed to empower lenders to make more confident credit lending decisions for newcomers to Canada. The solution creates a calibrated credit score using newcomers’ credit histories from their countries of origin. The platform offers lenders and newcomers to Canada a seamless and secure means to access global credit data which is essential in obtaining services such as housing, credit cards, and mobile phone contracts.

Immigration to Canada continues to grow, with the country on track to welcome 500,000 new immigrants annually by 2025. Many of these newcomers will arrive with credit histories that often go unseen by Canadian financial institutions. People who are new to Canada often have a thin credit file (generally defined as having 2 or less credit lines) with little to no credit history because their credit file from their country of origin may not carry over to Canada. Without a more robust credit file, newcomers may face greater challenges in navigating the Canadian financial economy such as accessing credit cards or mortgages with favourable rates or renting an apartment. Having a credit score allows newcomers to Canada to gain access to greater financial opportunities.

Robust Credit Bureau data from around the world
The Global Consumer Credit File allows newcomers to leverage their global credit profiles when they apply for the credit necessary to build their financial lives in Canada. It offers a seamless and secure way of connecting financial data within Equifax Consumer Credit bureaus worldwide to create a calibrated score and helping to give financial visibility to individuals who are new to Canada. With this trusted information, lenders can make more informed decisions and help to expand credit access for newcomers based in part upon information gained from their international credit histories. The Global Consumer Credit File will launch with credit information from India, with plans to expand the service for newcomers from Brazil, Argentina, and Chile over the coming months, and a future roadmap that includes 18 countries total.

“At Equifax Canada, we are committed to supporting the Canadian financial ecosystem to help provide more inclusive financial opportunities that move people forward,” said Sue Hutchison, President and CEO of Equifax Canada. “Newcomers to Canada bring a wealth of talent and ambition to this country, and we are proud to play a role in helping them gain access to the credit they need to thrive. The Global Consumer Credit File allows us to empower these individuals from day one, helping them establish their financial roots and contribute to Canada’s vibrant economy.”

Canada’s immigration strategy is a cornerstone of its economic growth. Equifax Canada is set to support this growth by providing lenders with access to trusted global data, expanding credit opportunities, and fostering a more inclusive financial landscape for all Canadians.

“Financial inclusion is about more than just credit access,” added Hutchison. “It’s about creating opportunities for everyone to succeed and contribute to the economy. Equifax is proud to lead the charge in ensuring that newcomers have the tools they need to build a strong financial future here in Canada.”

By reducing barriers to financial access, the Global Consumer Credit File can help newcomers to Canada realize their full potential from the moment they arrive, along with those already in Canada, ensuring that they can thrive both financially and personally.

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

Contact:

Andrew Findlater
SELECT Public Relations
afindlater@selectpr.ca
(647) 444-1197

Angie Andich
Equifax Canada Media Relations
MediaRelationsCanada@equifax.com

The MIL Network –

January 25, 2025
MIL-OSI: AppFolio Unveils FolioSpace™ to Transform the Resident Experience and Help Customers Build Thriving Communities, Acquires LiveEasy to Accelerate its Vision
Source: GlobeNewswire (MIL-OSI)

FolioSpace gives AppFolio property management customers new ways to deliver exceptional value and experiences to their residents

AppFolio acquires LiveEasy to integrate convenient moving and home services into FolioSpace

SANTA BARBARA, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — AppFolio (NASDAQ: APPF), the technology leader powering the future of the real estate industry, today unveiled FolioSpace™, a next-generation resident experience that redefines how property managers and renters connect throughout the entire resident journey. FolioSpace will enable AppFolio’s 20,000 property management customers to create a unified and elevated experience for the millions of residents they serve — from application through renewal.

To accelerate its resident vision, on October 22, 2024 AppFolio acquired all of the outstanding shares of LiveEasy, a concierge platform providing moving and home services. By vertically integrating LiveEasy and offering its services as part of FolioSpace Resident Onboarding, AppFolio will reduce the stress of moving, deliver increased convenience, and save renters time and money.

FolioSpace: Reimagining How Property Managers Engage with Residents

A recent AppFolio survey reveals residents expect timely communication, on-demand digital experiences, and support during the move-in process. However, traditional resident management approaches often fall short, limiting operational efficiency and resident satisfaction. Meeting these expectations is critical for property managers to gain an edge in an increasingly competitive market.

FolioSpace reimagines how property managers engage with residents by bringing the entire resident journey into one application. By streamlining tasks and communication, FolioSpace replaces traditional manual processes with intuitive digital workflows, including:
- Resident Application & Screening: A seamless application and approval process for applicants while providing property managers the data they need to select trusted residents and protect themselves from fraud.
- Resident Onboarding: A configurable digital checklist to streamline leasing and welcome new residents, plus with LiveEasy, access to savings and dedicated support in setting up their utilities, internet and cable, and moving services.
- Resident Services Marketplace: A collection of essential services to improve residents’ living experience, while also creating value for property managers.
- Resident Inbox: A reimagined inbox gives residents a central location to communicate with their property managers for everything from maintenance requests to leasing questions. Property managers can use AppFolio Realm-X Messages, which leverages the power of genAI, to help them sort through, act on, and respond to routine resident communications.
“We envision a world where living in communities feels magical and effortless, freeing people to thrive,” said Chris Womack, Chief Growth Officer of AppFolio. “By welcoming LiveEasy and enhancing AppFolio’s one powerful platform through FolioSpace, we are taking an important step on our journey of delivering exceptional value and experiences to our property management customers and the residents they serve.”

“LiveEasy’s mission is to provide surprisingly simple moving and living experiences that combine technology and human touch for renters and homeowners,” said Venkatesh Ganapathy, CEO of LiveEasy. “With AppFolio’s commitment to innovation and expansive footprint, we believe this combination will propel that mission and enable us to exceed the expectations of both current and new customers.”

For More Information
- Learn more about FolioSpace
- Register for FUTURE Conference next week in San Diego to attend sessions focused on the resident experience:
  - “The Resident Experience Revolution: Leveraging Tech to Enhance Engagement and Retention”
  - “First Impressions Count: Revolutionizing Resident Onboarding with Digital Excellence”
  - “Stand Out from the Competition: 2024 Renter Preferences Research Insights”
- Watch the FUTURE opening mainstage event broadcast on LinkedIn Live on Tuesday, October 29 at 9:00am PT.
The transition to FolioSpace will be seamless for existing users of AppFolio’s current Resident Portal, requiring no new download or account creation. AppFolio will proactively work with customers to jointly bring the new experience to residents.

Additional Acquisition Information

LiveEasy is the trade name of Move EZ, Inc., which AppFolio acquired via merger for approximately $80 million, subject to customary adjustments.

About AppFolio

AppFolio is the technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com.

About LiveEasy

LiveEasy is the country’s most comprehensive home services platform. LiveEasy partners with a range of businesses, including property management, brokerage, mortgage, home inspection, insurance, and more. Its turnkey solution enables businesses to customize, brand, and embed home services solutions into their workflows so they can offer a true end-to-end moving and home services solution to renters and homeowners. For more information about LiveEasy, visit liveeasy.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements that are not statements of historical fact contained in this press release, and can be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “future,” “predicts,” “projects,” “target,” “seeks,” “contemplates,” “should,” “will,” “would” or similar expressions and the negatives of those expressions. In particular, forward-looking statements contained in this press release include statements relating to the potential benefits and effect of the FolioSpace resident application and the acquisition of LiveEasy and their impact on AppFolio’s plans, objectives, expectations and capabilities.

Forward-looking statements represent AppFolio’s current beliefs and expectations based on information currently available and speak only as of the date the statement is made. Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors that may cause AppFolio’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks, uncertainties and other factors that may cause actual results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements include AppFolio’s ability to successfully launch the FolioSpace resident application and integrate the LiveEasy business, AppFolio’s ability to implement its plans, objectives and expectations with respect to the FolioSpace resident application and the LiveEasy business, negative effects of the announcement of the FolioSpace resident application and/or the Live Easy acquisition on AppFolio’s business operations, operating results or share price, and unknown liabilities associated with the acquisition as well as those risks, uncertainties and other factors described in the section entitled “Risk Factors” in AppFolio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 1, 2024, and the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in AppFolio’s most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as well as in its other filings with the SEC. You should read this press release with the understanding that AppFolio’s actual future results may be materially different from the results expressed or implied by these forward-looking statements.

AppFolio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca49f9fd-edcc-4d48-b939-91518d73ceee

The MIL Network –
January 25, 2025
MIL-OSI: Microsegmentation Trailblazer Illumio Achieves ISO 27001 Certification

Source: GlobeNewswire (MIL-OSI)

SUNNYVALE, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Illumio, Inc., the Zero Trust Segmentation (ZTS) company, today announced it has achieved ISO/IEC 27001:2022 (ISO 27001) certification. This certification represents Illumio’s continued commitment to meeting the highest levels of global security standards. Certification was issued by Schellman Compliance LLC following an extensive audit of Illumio’s ZTS platform, which includes Illumio Core^®, Illumio Endpoint^®, Illumio CloudSecure^® and Illumio for Microsoft Azure Firewall.

“Illumio is committed to prioritizing data security for our customers, partners and suppliers. Achieving ISO certification right after our recent FedRAMP authorization exemplifies our ongoing commitment to excellence and security,” said Ben Verghese, Chief Technology Officer at Illumio. “By following a structured framework and constantly advancing our practices, we ensure sensitive data is well-protected, building continued trust and a safer tomorrow.”

ISO 27001, from the International Organization for Standardization, is a globally recognized standard for the establishment and certification of an information security management system (ISMS). ISO 27001 certification shows that Illumio’s services align with internationally recognized best practices for information security management and security controls. Illumio extended their ISO 27001 certification to include the ISO/IEC 27701:2019 (ISO 27701) standard, demonstrating that the company’s services align with internationally recognized best practices for privacy information management system (PIMS) in the role of a personally identifiable information (PII) processor.

Illumio is purpose-built to prevent lateral movement by attackers once they breach an organization. The Illumio ZTS platform enables organizations to identify security gaps in real-time and contain attacks across cloud, data center, and endpoint environments. Combined with the power of AI, the ZTS platform simplifies the creation of security policies and enhances segmentation controls, equipping teams to isolate breaches by reducing and restricting lateral movement either proactively or in response to an attack.

To learn more about Illumio’s commitment to security, visit here for a complete list of certifications or read The Forrester Wave™: Microsegmentation Solutions, Q3 2024 report.

About Illumio
Illumio, the most comprehensive Zero Trust solution for ransomware and breach containment, protects organizations from cyber disasters and enables operational resilience without complexity. By visualizing traffic flows and automatically setting segmentation policies, the Illumio Zero Trust Segmentation Platform reduces unnecessary lateral movement across the multi-cloud and hybrid infrastructure, protecting critical resources and preventing the spread of cyberattacks.

Contact Information
comms-team@illumio.com

The MIL Network –

January 25, 2025
MIL-OSI: New Asia Holdings Inc (NAHD) Announces Shareholder Update
Source: GlobeNewswire (MIL-OSI)

Electra, Oct. 23, 2024 (GLOBE NEWSWIRE) — New Asia Holdings Inc./Olenox Corp. (NAHD” or the Company) (OTCQB: NAHD), announces a shareholder update.

Corporate Developments

The company continues to work on its consolidated audited financials and expects to be completed and filed by the end of November and is on target to complete and file them by then.

New Asia has also been working in the background with its capital stock to meet the OTC market requirement of a 10% public float by reducing the outstanding shares. The company was removed from OTCQB in mid-August for not having 10% of its stock in the public float. The company now meets those requirements and currently has 12.7 percent of its outstanding shares in the float.

Olenox is a fully integrated energy company that produces responsible energy products both traditional and renewable. Our continued focus on carbon footprint reduction and streamlined oil and gas production not only benefits the environment and local communities but also add value to Olenox bottom line.

The company continues as well to work towards our green initiative to produce carbon-neutral products as well as integrate solar and other renewable technologies into our daily oil and gas production operations.

Acquisitions

On August 13^th, 2024, New Asia announced it had purchased 162 miles of Texas pipeline from Taylor Consulting. The company is currently looking to bring the pipeline back into production and working with the anchor customer to renew takeoff agreements. An existing agreement is in place for 55,000 MCF per month and the company is looking at several other projects that could be attached to the pipeline including power generation and bitcoin mining operations.

On August 8^th, 2024, New Asia/Olenox announced that its wholly owned Olenox Kansas has been selected to operate 181 natural gas wells in the Bradshaw portion of the Giant Hugoton Field in Kansas. The company continues to bring on production and is working towards the goal of having half the field in production by Q1 2025. The company to date has brought back 32 wells into production and is now working on abandoning 3 wells to meet the contract requirements for the year.

New Asia/Olenox continues to work on several other acquisitions and is in the final stages of purchase negotiations with 2 of the 4 currently under consideration.

Technology

Olenox continues to develop its technologies and is pushing its downhole tooling forward. Modifications were needed for both the Plasma pulse tool and the ultra-sonic tool to meet industry standards in Texas and the company will begin to use the technology in our field in the coming months.

About Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
- Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
- Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
- Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company’s competitors.

Safe Harbor Statement: Certain statements and information included in this release may constitute “forward-looking statements” as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, estimates and expectations is contained in the Company’s SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

The MIL Network –
January 25, 2025
MIL-OSI: Sapphire Technologies and CCYS Partner to Drive Energy Efficiency in Asia’s Natural Gas Sector

Source: GlobeNewswire (MIL-OSI)

CERRITOS, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Sapphire Technologies, a developer of energy recovery systems for hydrogen and natural gas industrial applications, is expanding into new markets in Asia through a partnership with CCYS, a leading Chinese enterprise in green energy recovery. As carbon emissions are projected to peak in China by 2030, the partnership seeks to reverse that trajectory. Sapphire’s advanced FreeSpin® In-line Turboexpander technology will be integrated into key infrastructure projects. This cutting-edge technology captures and converts wasted pressure energy into clean electricity, improving the efficiency of natural gas use and supporting China’s broader emissions reduction objectives.

BP projects that China’s natural gas consumption will rise to 550 billion cubic meters by 2030, up from approximately 395 billion cubic meters in 2023, increasing its global energy share from 6% to over 10%. If the available natural gas pressure in China (1.6-4.0 MPa) is fully utilized using Sapphire’s FreeSpin® In-line Turboexpander, it could recover 13 million MWh of pressure energy, enabling the installation of at least 1,517.7 MW of power generation capacity. This advancement would contribute to annual CO2 reductions of up to 12 million tons.

“Our partnership with CCYS marks an exciting step forward for both companies as we work together to meet China’s growing demand for sustainable energy solutions,” said Freddie Sarhan, CEO of Sapphire Technologies. “By leveraging our turboexpander technology, we are expanding into new markets and helping enhance the efficiency of natural gas operations all while contributing to the country’s environmental goals.”

“This partnership allows us to leverage Sapphire Technologies’ energy recovery systems to significantly improve the efficiency of our infrastructure projects,” said Changgang Guo, CEO of CCYS. “With this advanced technology, we are now able to capture and repurpose energy that would otherwise be wasted, directly supporting China’s transition to a greener, more sustainable energy landscape.”

This partnership will initially focus on deploying Sapphire’s technology across multiple projects in China’s natural gas sector, including energy recovery systems at gas city gate stations, and LNG regasification facilities. Notable projects include those with Beijing Gas and Heating Engineering Design Institute, CNPC Lanzhou Petrochemical Equipment Company, and ENN Energy. Overall, this collaboration sets the stage for broader implementation of Sapphire’s solutions, helping drive China’s move toward a more energy-efficient future.

About Sapphire Technologies
Sapphire Technologies is driving global decarbonization through developing and manufacturing energy recovery systems that harness the power of gas expansion to produce reliable and clean electricity. Sapphire Technologies’ systems are designed to convert energy wasted in pressure reduction processes into electric power without interrupting operations. By recovering this wasted pressure energy, Sapphire Technologies helps customers maximize efficiencies, improve productivity, reduce carbon emissions, offset electrical costs and achieve substantial financial returns. For additional information visit: https://www.sapphiretechnologies.com.

About CCYS
Over the past decade, CCYS has focused on the R&D, production, sales, and service of thermal insulation products. In 2023, the company expanded a new branch company, CCYS(Beijing), to focus on green energy recovery, leveraging advanced technologies in the Oil & Gas, hydrogen, air, and CO2 sectors. It now specializes in pressure energy recovery and waste heat recovery, continually enhancing the efficient closed-loop utilization of zero-carbon electricity and cooling energy across these areas to help meet the “China 3060” Carbon Peak/Neutral target. For additional information, please visit: http://www.ccysnh.com/

Media Contact:
Kite Hill PR
Lara Schembri Sant
lara@kitehillpr.com

The MIL Network –

January 25, 2025
MIL-OSI: A majority of Canadian HR professionals cite workplace harassment as a growing concern, but 28% lack prevention policies
Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) — Traliant, a leader in online compliance training, today announced its new workplace study, “Canadian Culture Check: A report on the state of workplace harassment in Canada.” Compiled from a survey of over 1,000 HR professionals in Canada, the study assesses how organizations are approaching harassment prevention. Most notably, the survey revealed that while a majority of HR professionals (61%) feel workplace harassment is a growing issue in their organization, more than a quarter (28%) of organizations do not have a comprehensive workplace harassment prevention policy that meets all legal requirements.

Canadian law requires that employers in all provinces and territories, along with federally regulated employers, provide harassment and workplace violence prevention training to all employees. However, the report reveals that the current programs and processes in place may not fully address the entire spectrum of government training mandates, putting organizations at compliance risk and perpetuating cultures of misconduct.

“Effectively addressing workplace harassment requires a dual strategy of empowering employees to actively foster workplace respect and ensuring compliance with Canada’s provincial and federal requirements,” said Michael Johnson, Chief Strategy Officer at Traliant. “Our study identifies critical areas where Canadian HR professionals can enhance current harassment prevention programs to create lasting, impactful change on company culture.”

The report uncovered additional gaps and potential liabilities in how Canadian HR professionals are approaching harassment prevention, including:
- 26% of organizations are putting themselves at risk by not providing harassment prevention training to all employees and all levels.
- 28% of Canadian HR professionals are not providing training to employees at a frequency of least every two years as recommended by case law.
- 52% of respondents said their workplace harassment reporting processes were not clear or standardized, preventing employees from coming forward and allowing harassing behavior to continue and escalate.
Casey Heck, Senior Vice President of Human Resources at Traliant, added, “With a heightened awareness of the need to address workplace harassment and violence, it’s crucial for HR professionals to effectively support all employees and managers with training to create a safe and positive work environment.”

For complete survey findings and details, read the full report here.

Methodology
The independent market research firm Researchscape conducted this survey. Respondents were 1,000 HR professionals in Canada, from organizations ranging from 50 to 1,000+ employees. The survey was conducted in September 2024.

About Traliant
Traliant, a leader in compliance training, is on a mission to help make workplaces better, for everyone. Committed to a customer promise of “compliance you can trust, training you will love,” Traliant delivers continuously compliant online courses, backed by an unparalleled in-house legal team, with engaging, story-based training designed to create truly enjoyable learning experiences.

Traliant supports over 14,000 organizations worldwide with a library of curated essential courses to broaden employee perspectives, achieve compliance and elevate workplace culture, including sexual harassment training, diversity training, code of conduct training, and many more.

Backed by PSG, a leading growth equity firm, Traliant holds a coveted position on Inc.’s 5000 fastest-growing private companies in America for four consecutive years, along with numerous awards for its products and workplace culture. For more information, visit http://www.traliant.com and follow us on LinkedIn.

Contact
Reagan Bennet
traliant@v2comms.com

The MIL Network –
January 25, 2025
MIL-OSI: Usio to Host Third Quarter Fiscal 2024 Conference Call to Discuss Results and Provide Company Update on November 6, 2024

Source: GlobeNewswire (MIL-OSI)

SAN ANTONIO, Oct. 23, 2024 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq:USIO), a leading FinTech that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions, today announced it will release third quarter fiscal 2024 financial results for the period ended September 30, 2024, after the market closes on Wednesday, November 6, 2024.

Usio’s management will host a conference call the same day, November 6, 2024, beginning at 4:30 p.m. Eastern time to review financial results and provide a business update. Following management’s formal remarks, there will be a question-and-answer session.

To listen to the conference call, interested parties within the U.S. should call 1-844-883-3890. International callers should call 1-412-317-9246. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company’s website at https://usio.com/events-2/.

A replay of the call will be available approximately one hour after the end of the call through November 20, 2024. The replay can be accessed via the Company’s website or by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international). The replay conference playback code is: 7062327.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, integrated software vendors and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services clients through its unique payment facilitation platform as a service. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the card issuing sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas.

Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.

FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief, and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2023. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Contact

Paul Manley
Senior Vice President, Investor Relations
paul.manley@usio.com
612-834-1804

The MIL Network –

January 25, 2025
MIL-OSI: ibex Ranked #2 in Forbes America’s Best Employers for Tech Workers List

Source: GlobeNewswire (MIL-OSI)

WASHINGTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced it has been ranked at No. 2 on the 2024 Forbes list of America’s Best Employers for Tech Workers, placing it ahead of global tech industry giants.

To create the list, Forbes surveyed more than 25,000 tech workers in the United States employed at companies across all sectors with at least 1,000 people. Survey respondents were asked how likely they would be to recommend their current employer, their previous employer, and companies they knew through peers in their industry, or through friends or family who worked there. Respondents assessed their companies’ general work environment and topics like career development, salary, image, diversity, openness and technological prowess.

“We are thrilled to be recognized by Forbes as one of America’s top employers for tech workers,” said ibex Chief Technology Officer Andy Wilkens. “This ranking is a testament to our tech-led strategy combined with an unwavering commitment to employee success and well-being. ibex has been a pioneer in leveraging technology and AI to enable our global team to deliver the best CX for our clients. We recently introduced the ibex Wave iX solutions suite, which harnesses the power of Gen AI to deliver next-generation customer experiences for top global brands.”

ibex Wave iX seamlessly integrates innovative AI-powered solutions with ibex’s industry-best talent to facilitate advanced, hyper-personalized, and intelligent interactions that cultivate stronger connections between brands and their customers.

“From comprehensive benefits and career growth opportunities to our innovative employee engagement programs, we strive to create an environment where top tech talent can thrive and make a real impact,” said ibex Chief People Officer Paul Inson. “ibex is deeply committed to providing cutting-edge technology, tools and training to support career growth and development. We are proud that 85 percent of our frontline leaders began their careers as agents within the company, demonstrating the opportunity for career advancement across the organization.”

Another key aspect of ibex’s outstanding workplace is the company’s commitment to listening to employee feedback. ibex conducts its annual iVoice employee survey to gather input from its workforce, and more importantly, takes concrete actions based on that feedback. ibex also conducts quarterly employee pulse surveys, ensuring that the company remains closely attuned to its team’s evolving needs and expectations.

For more information about ibex and career opportunities, visit www.ibex.co.

About ibex
ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

ibex Media Contact:
Dan Burris
daniel.burris@ibex.co

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e704c285-850f-4151-afdc-753676638fd8

The MIL Network –

January 25, 2025
MIL-OSI: AvidXchange Announces Winners of the Inaugural Change Maker Awards
Source: GlobeNewswire (MIL-OSI)

CHARLOTTE, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) — AvidXchange, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the winners of the inaugural Change Maker Awards, recognizing individuals who have driven innovative and transformative change in the AP industry.

Change Makers:
For this award program, AvidXchange honors those who embodied being a “change maker,” or someone who facilitates or brings about change in their AP department through innovative processes, automated procedures or other creative solutions.
- Alexis Bates, Director of Construction and Development Accounting, Robert High Development: In response to the demand for faster, more secure subcontractor payments, Alexis spearheaded the implementation of AvidXchange’s end-to-end AP automation solution built for construction. The payment process is now more streamlined, saving her company over $100,000 annually in hard costs like check stock and postage and eliminating the need to hire additional staff due to increased efficiency. Additionally, with a more robust approval process, her team has experienced fewer errors and implemented a stronger system for checks and balances.
- Ella Hu, Corporate Accountant, HH Red Stone: Ella played a key role in implementing AvidXchange’s payment automation solution, replacing manual processes that were prone to errors and delays. The adoption of a more efficient process resulted in annual savings of $45,000 and reduced payment processing time from 14 days to just 5. Ella’s efforts also led to a 30% increase in supplier satisfaction, as suppliers now receive more timely payments with clearer status updates.
- Farzana Sarpas, Staff Accountant – Development Accounting, Rancho Mission Viejo: Farzana led the implementation of AvidXchange’s end-to-end AP automation solution built for construction. She played a key role in integrating an innovative system that utilizes a newly created company portal designed to automatically import, code, and route invoices to AvidXchange, fully automating the AP process and saving approximately 40 hours each week. In addition to eliminating a variety of time-consuming tasks, Farzana created personalized virtual trainings and user guide manuals for her company and suppliers, ensuring a seamless transition to the new AP software.
- Ja’Net Penn, Accounting Manager, Peak Property Management: Under Ja’Net’s innovative leadership, Peak Property successfully transitioned to a fully automated, paperless AP process with AvidXchange. This shift reduced invoice approval times by 30% and improved customer retention, allowing the company to focus on stable revenue streams rather than new client acquisition costs. Ja’Net also introduced a key KPI to track unapproved invoices, increasing accountability in the approval process and improving relationships with suppliers and property owners, with on-time payments reaching 95%.
- Kelly Brummer, Controller AVP, Premier Bank: Kelly’s efforts to modernize the accounts payable and expense reimbursement processes with AvidXchange had a transformative impact on Premier Bank, resulting in annual savings of approximately $79,000. Administrative tasks for all employees were reduced from 40 hours per week to just 10, freeing up valuable time for the finance team to focus on more strategic work. Her CFO praised her for driving a more efficient and delivering a seamless experience for the team.
- Shannon Powers, Manager of HRIS & AP, Energo: Shannon implemented enhanced workflows within AvidXchange’s invoice automation solution, reducing invoice approval time to under 24 hours. The streamlined process has also improved accuracy, with error rates now nearly “non-existent”. Reporting now takes just 15 minutes, down from an hour, increasing operational efficiency and saving on payroll costs. Shannon implemented enhanced workflows within AvidXchange’s invoice automation solution, reducing invoice approval time to under 24 hours. The streamlined process has also improved accuracy, with error rates now nearly “non-existent.” Reporting now takes just 15 minutes, down from an hour, increasing operational efficiency and saving on payroll costs.
“Innovation in accounts payable goes beyond improving processes—it’s about making change that has a lasting impact on both financial and operational success,” said Michael Praeger, Co-Founder, Chairman, and Chief Executive Officer of AvidXchange. “Our inaugural class of Change Makers embodies this forward-thinking mindset, and we are proud to honor these individuals whose bold contributions will continue to shape the future of our industry.”

In recognition of their outstanding contributions to the accounts payable industry, each winner will be showcased on the iconic Nasdaq Tower, as well as have $1,000 donated to the charity of their choice on behalf of AvidXchange.

Nominations for the 2025 Change Maker Awards will open in August 2025.

To learn more, visit avidxchange.com/awards.

About AvidXchange
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,000 businesses and it has made payments to more than 1.2 million supplier customers of its buyers over the past five years. To learn more about how AvidXchange is transforming the way companies pay their bills, visit avidxchange.com.

Contact:
Kevin Logan
Manager, Corporate Communications
pr@avidxchange.com

The MIL Network –
January 25, 2025
MIL-OSI: Fortinet Report Finds Nearly 70% of Organizations Say Their Employees Lack Fundamental Security Awareness
Source: GlobeNewswire (MIL-OSI)

SUNNYVALE, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) —

John Maddison, Chief Marketing Officer at Fortinet
“As threat actors harness new technologies like AI to augment the sophistication of their attacks, it’s increasingly crucial that employees serve as a robust first line of defense. Fortinet’s new research underscores the importance of creating a culture of cybersecurity and the need to deploy organization-wide security awareness and training. These findings reinforce the importance of our award-winning Security Awareness and Training service for enterprises, including the free educational version available at no cost to primary and secondary schools around the world, and its role in strengthening cyber resilience.”

News Summary
Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today released its annual 2024 Security Awareness and Training Global Research Report, highlighting the crucial role a cyber-aware workforce plays in managing and mitigating organizational risk.

Key findings from the global report include:
- As malicious actors use AI to increase the volume and velocity of their attacks, leaders believe these threats will be harder for their employees to spot. More than 60% of respondents expect more employees to fall victim to attacks in which cybercriminals use AI. However, the good news is that most respondents (80%) also say enterprise-wide knowledge of AI-augmented attacks has made their organizations more open to implementing security awareness and training.
- Employees can be an organization’s first line of defense, but leaders are increasingly worried that their employees lack security awareness. Nearly 70% of those surveyed believe their employees lack critical cybersecurity knowledge, up from 56% in 2023.
- Leaders recognize the importance of security awareness training but believe specific attributes make some training programs more effective than others. Three-quarters of leaders say they plan their security awareness campaigns, delivering content monthly (34%) or quarterly (47%). Executives also point to high-quality content playing a leading role in the success or failure of the program.
The Latest Threats That Employees Must Battle
One prominent way cybercriminals use AI is to make phishing schemes more believable and harder to detect. Because phishing targets individual users directly, organizations are heavily focused on teaching employees how to recognize and avoid falling victim to these attacks.
- End-users remain attractive targets. More than 80% of organizations faced attacks last year, such as malware, phishing, and password attacks that directly targeted individuals.
- As attacks evolve, security awareness and training will only become more vital. Nearly all (96%) of those surveyed say their leadership team supports employee security awareness training.
- Nearly all respondents (98%) say phishing prevention is a component of their training programs and plans. Other top training priorities include data security (48%) and privacy (41%).
Employees Can Serve as a Strong First Line of Defense against Attacks
While security and IT teams are crucial to safeguarding organizations against cyberthreats, an enterprise’s employees also play an important role in preventing breaches.
- Employees are open to cybersecurity awareness and training opportunities. Most leaders (86%) say their employees positively view security awareness and training.
- Organizations see positive results when they implement security and awareness training programs. An overwhelming majority of leaders (89%) say their organization saw at least some improvement in its security posture after security awareness and training were implemented. Not a single respondent claimed to see no improvement.
Cyber Awareness Training Is Vital, but Not All Programs Are Created Equal
Most organizations are motivated to introduce security awareness and training based on their experience of being breached or knowledge of threats in their industry or sector. Almost all decision-makers (96%) say their leadership team supports implementing training to raise employees’ cybersecurity awareness.

According to this year’s survey, 97% of leaders think increased employee awareness would strengthen the organization’s cybersecurity posture. Yet respondents also agree that there are key attributes of training programs that are important for effectiveness.
- Engaging content is paramount. While 86% of decision-makers say they are satisfied with their current security awareness and training solution, the biggest complaint was a lack of engaging content among those not satisfied.
- Consider the time commitment required. Avoid training fatigue by considering the amount of time required from learners. Demanding too much time from employees can overburden them. Between 1.1 and 2.0 hours is the most common time proposed, with three hours as the average.
Develop a Cyber-Aware Workforce with the Fortinet Security Awareness and Training Service
One breach incident alone has significant repercussions for a business. It is vital to build a three-pronged defense strategy that includes security awareness and training for all employees, technical cybersecurity skills for IT and security staff, and advanced security solutions for the network.

Beyond teaching individuals what to do when they encounter threats, awareness and training lay the foundation for creating a culture of cybersecurity throughout the organization. Fortinet offers its Security Awareness and Training service to businesses that want to develop a cyber-aware workforce. Designed by the Fortinet Training Institute’s world-class trainers, this service covers a broad range of topics, offers content customization opportunities, and reinforces learnings with periodic reminders and checks. Organizations using the service also have access to a variety of dashboards to track learner progress and reporting to address cyber insurance and compliance needs.

About the Fortinet Cyber Awareness Survey:
- The survey was conducted among more than 1,850 executive-level and management-level professionals from 29 different countries at organizations with security awareness and training.
- Survey respondents came from a range of industries, including manufacturing (17%), financial services (13%), and technology and professional services (11%).
Additional Resources
- Learn more about Fortinet’s free cybersecurity training, which includes broad cyber awareness and product training. As part of the Fortinet Training Advancement Agenda (TAA), the Fortinet Training Institute also provides training and certification through the Network Security Expert (NSE) Certification, Academic Partner, and Education Outreach programs.
- Visit fortinet.com/trust to learn more about Fortinet innovation, collaboration partners, product security processes, and enterprise-grade products.
- Learn more about Fortinet’s commitment to product security and integrity, including its responsible product development and vulnerability disclosure approach and policies.
- Learn more about FortiGuard Labs threat intelligence and research and Outbreak Alerts, which provide timely steps to mitigate breaking cybersecurity attacks.
- Learn more about Fortinet’s FortiGuard Security Services portfolio.
- Read about how Fortinet customers are securing their organizations.
- Follow Fortinet on X, LinkedIn, Facebook, and Instagram. Subscribe to Fortinet on our blog or YouTube.
About Fortinet
Fortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including CERTs, government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

Copyright © 2024 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSEC, FortiSIEM, FortiSMS, FortiSOAR, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

The MIL Network –
January 25, 2025
MIL-OSI: White & Associates Insurance Selects Tarmika to Simplify Commercial Lines Remarketing

Source: GlobeNewswire (MIL-OSI)

Chicago, IL., Oct. 23, 2024 (GLOBE NEWSWIRE) — Applied Systems® today announced that White & Associates Insurance has selected Tarmika, the industry’s leading commercial lines quoting tool, to remain competitive amid challenging market conditions. Tarmika will provide White & Associates Insurance’s agents with a snapshot of carrier appetites for standard commercial lines in one place to help agents stay on top of rapid appetite changes and remove the friction of rekeying data and switching between multiple carrier platforms, allowing for more accounts to be remarketed more quickly.

“Constantly changing carrier appetites due to today’s hard market have made it imperative for our agents to remarket nearly all our commercial lines clients annually, which has increased the pressure on our staff,” said Cate Robertson, Vice President, Marketing & Training, White & Associates Insurance. “We chose Tarmika because its single-entry capabilities will speed up the commercial quoting process, empowering our people to successfully provide clients with the attention they deserve during renewals regardless of market conditions.”

Tarmika is a single-entry commercial lines quoting application that enables agencies to simultaneously quote multiple small commercial markets, through their Direct and Market Access carrier appointments. Directly integrated with Applied Epic and EZLynx, agents can easily pass key risk data points between applications to streamline the quoting process in Tarmika while tracking activities and important quoting details directly in the management system. By enabling agents to collect and store data, find in-appetite markets, quote and submit to multiple insurers or MGAs in a single workflow, agents create a simpler, more connected commercial lines quoting experience that improves productivity and speed to market.

“The insurance industry is entering a new normal where rates are accelerating at a decelerate rate, leaving agencies looking for smarter ways to approach remarketing,” Raghav Tanna, Senior Vice President, Product Management, Commercial Lines, Applied Systems. “By selecting Tarmika, White & Associates Insurance will be able to streamline risk data entry for quicker access to markets, saving staff time and freeing up resources to focus on more strategic initiatives.”

# # #

The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

About White & Associates Insurance
Established in 1976, White & Associates Insurance is a locally owned and operated insurance agency with 12 locations in West Tennessee, Missouri and Arkansas. White & Associates strives to provide a “doing more” approach to all aspects of operation, including enhancing employee job satisfaction, providing clients with innovative insurance packages and improving the communities in which they serve.

The MIL Network –

January 25, 2025
MIL-OSI: LEARN selects Nokia to deploy new high-capacity network to foster research and education in Texas
Source: GlobeNewswire (MIL-OSI)

Press Release
LEARN selects Nokia to deploy new high-capacity network to foster research and education in Texas
- Multi-year agreement sets Nokia as a key collaborator for LEARN’s high-capacity IP/MPLS network to meet growing capacity demands supporting research and education purposes.
- Enables high-speed access to foster scientific discovery and pedagogical developments in the state.
- Nokia industry-leading IP routing technology delivers 400G interfaces today with ability to seamlessly upgrade to 800G in the future.
23 October 2024
Dallas, Texas – Nokia today announced its collaboration with The Lonestar Education and Research Network (LEARN), the statewide Research and Education Network for the state of Texas, to upgrade LEARN’s existing packet platform. The collaboration is part of LEARN’s strategic NextGen Network initiative, which aims to replace routers across the LEARN backbone and modernize the existing statewide network, significantly advancing the network’s infrastructure and the ability to serve its members. Nokia’s solution will enhance the levels of scalability, security, and reliability over a 400GE backbone, as part of a broad project redesign led by LEARN to serve its more than 300 organizations that directly or indirectly rely upon its network.

The collaboration with Nokia represents a significant milestone as LEARN celebrates the upcoming 20^th anniversary of its passage of first light. The relationship with Nokia highlights LEARN’s commitment to providing advanced, high-performance networking technology solutions for research and education. The next generation of the network will meet the highest performance and reliability standards, benefiting LEARN members by enhancing network performance, ensuring seamless integration, providing future-proof technology, increasing operational efficiency, and improving network reliability and resiliency.

The LEARN network spans over 3,200 fiber route miles, serving over 300 direct and affiliate member organizations throughout Texas, including public and private higher education institutions, colleges, and K–12 public schools. The enhanced IP/MPLS core network from Nokia delivers the performance, scale, and speed that are required to support cloud-hosted applications, compute-intensive processing, and the exchange of massive data sets required by LEARN Member Institutions.

Kerry Mobley, President and CEO of LEARN, said: “LEARN is looking ahead to ensure we continue to meet the evolving demands of research, education, and collaboration for years to come. As network traffic increases due to technological advancements, we are committed to providing scalable and resilient services to support the needs of our members. Partnering with Nokia to help modernize our next-gen network allows us to implement cutting-edge, future-ready solutions that enhance our ability to empower the research and education communities across Texas.”

Matt Young, Head of Enterprise Sales for North America at Nokia, said: “Research and Education networks like LEARN are experiencing unprecedented data growth with advancements in cloud and AI, which is compounded by the compute intensive processing and exchange of huge data sets within their communities. Our leadership in networking technologies and the extensive experience providing some of the highest performance networks on the planet have allowed us to gain momentum in the market, providing our customer with a robust network infrastructure with enhanced scalability, security, and reliability. We are pleased to be a part of LEARN’s network evolution project as they help foster scientific research, collaboration and innovation in Texas.”

Resources and additional information
The Nokia IP/MPLS platform leverages in-house developed leading-edge FP5 network processing silicon and is designed to scale in support of the most demanding workloads. A layer of network protection is integrated directly into the chipset, ensuring the integrity of research data as security threats – such as DDoS attacks and data breaches – grow in size and severity. Innovations in power consumption deliver a 75 percent reduction in energy use over earlier routing chipsets.

National/regional research and education networks (NRENs) are non-commercial networks created for the advancement of knowledge. They demand performance, sometimes on the edge of what is commercially practical. They require unusual bandwidth capacity, scalability, flexibility, and data security without the constraints often found in commercial service offerings. Advances in photonic transport and switching, combined with IP routing and open software control, bring NRENs the ability to better serve their communities with a powerful communications infrastructure that will further education, scientific and industrial research, commerce, and overall quality of life – fostering collaboration among institutions.

Webpage: IP networks
Webpage: Advance discoveries with future-ready research and education networks
Product page: EVPN: a powerful foundation for network services and infrastructure

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.

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

About LEARN

The Lonestar Education and Research Network (LEARN) is a consortium of 43 organizations in Texas, including public and private higher education institutions, colleges, the National Oceanic and Atmospheric Administration (NOAA), K-12 public schools, and research organizations. LEARN provides high-speed networking & technology services to support education, research, healthcare, and government communities.

Media inquiries
Nokia Press Office
Email: Press.Services@nokia.com

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The MIL Network –
January 25, 2025
MIL-OSI: Micron SSDs Qualified for Recommended Vendor List on NVIDIA GB200 NVL72

Source: GlobeNewswire (MIL-OSI)

BOISE, Idaho, Oct. 23, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU), today announced that its 9550 PCIe Gen5 E1.S data center SSDs have been added to the NVIDIA recommended vendor list (RVL) for the NVIDIA GB200 NVL72 system and its derivatives.

The GB200 NVL72 uses the GB200 Grace Blackwell Superchip to deliver rack-scale, energy-efficient AI infrastructure. The enablement of PCIe Gen5 storage in the system makes the Micron 9550 SSD an ideal fit for optimizing performance and power efficiency in AI workloads like large-scale training of AI models, real-time trillion-parameter language model inference and high-performance computing (HPC) tasks.

Micron 9550 delivers world-class AI workload performance and power efficiency:

Compared with other industry offerings, the 9550 SSD delivers up to 34% higher throughput for NVIDIA Magnum IO ^™ GPUDirect ^® (GDS) and up to 33% faster workload completion times in graph neural network (GNN) training with Big Accelerator Memory (BaM).¹ The Micron 9550 SSD saves energy and sets new sustainability benchmarks by consuming 81% less SSD energy per 1TB transferred than other SSD offerings with NVIDIA Magnum IO GDS and up to 43% lower SSD power in GNN training with BaM.¹

“Micron’s memory and storage products play a critical role in meeting the growing requirements of demanding AI workloads from the data center to the edge,” said Jeremy Werner, corporate vice president and general manager of Micron’s Storage Business Unit. “By integrating the Micron 9550 SSD on the GB200 NVL72, server companies can integrate a high-performance, energy-efficient Gen5 data center storage solution into their AI server systems.”

“Ultra-fast and energy-efficient NVMe storage is crucial to the NVIDIA GB200 NVL72 rack-scale design,” said Keith Morris, vice president of Product Management at NVIDIA. “The Micron 9550 SSD can be integrated by our solution partners into their systems based on the GB200 NVL72 reference architecture to enable higher performance and efficiency.”

In addition to the Micron 9550 PRO PCIe Gen5 3.84TB, 7.68TB, and 15.36TB E1.S SSDs, the Micron 7450 PRO 3.84TB E1.S and 1.92TB M.2 SSDs have also been listed on the same NVIDIA RVL. Micron is working closely with server ODMs and OEMs to qualify the Micron 9550 and 7450 SSDs into their NVIDIA GB200 NVL72 solutions.

The NVIDIA GB200 Grace Blackwell Superchip will also ship with Micron’s LPDDR5X memory to provide a unique combination of high capacity, low power and enhanced RAS (reliability, availability and serviceability) capabilities for AI server infrastructure.

For more information, visit these additional resources:

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron^® and Crucial^® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2024 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Micron Media Relations Contact
Kelly Sasso
Micron Technology, Inc.
+1 (208) 340-2410
ksasso@micron.com

¹ Competitive comparisons with performance-focused 1 DWPD 7TB SSDs from Kioxia and Samsung available in the market and as tested in Micron labs.

The MIL Network –

January 25, 2025
MIL-OSI: Alation Launches Season 3 of Data Radicals Podcast to Spotlight Data and AI’s Impact on Business and Society
Source: GlobeNewswire (MIL-OSI)

REDWOOD CITY, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today announced the launch of Season 3 of the Data Radicals podcast. The new season, hosted by Satyen Sangani, Alation’s CEO and co-founder, focuses on AI’s transformative power to unlock business value, featuring firsthand accounts and practical insights from leaders and practitioners implementing AI in their organizations. This season will explore how organizations leverage trusted data and AI to drive innovation and realize new business opportunities.

Data Radicals has become a go-to resource for business leaders seeking insights into AI, data governance, and building data-driven cultures. Available on Apple Podcasts, Spotify, and Alation.com/podcast, Season 3 delivers in-depth conversations with industry visionaries tackling the most pressing data problems in business today. This season’s guests include Dr. Geraldine Wong (CDO of GXS Bank), Stewart Bond (Research VP of IDC), Jeremy Kahn (AI Editor at Fortune), Chris Wiggins (Chief Data Scientist at the New York Times), Dr. Raza Habib (CEO and co-founder of Humanloop), and Tom Davenport (author of All-in on AI), who explore how AI use cases drive smarter decision-making, maximize business value from data initiatives, and reshape industries while creating societal change.

“AI has unlocked extraordinary potential for organizations to reimagine how they use data,” said Satyen Sangani, host of Data Radicals and CEO of Alation. “This season, we explore how AI enables businesses to innovate and disrupt industries and the critical role of trusted data in fueling AI. We’re thrilled to hear from leaders driving AI’s accessibility, trust, and transformative impact. Season 3 will cover the most cutting-edge topics in data and AI, from practical applications like AI-powered chatbots and fraud detection in banking to realizing tangible value from AI initiatives.”

“I applaud Data Radicals for helping to highlight both the opportunities and the risks AI presents,” said Jeremy Kahn, AI Editor at Fortune and author of the book Mastering AI: A Survival Guide to Our Superpowered Future. “We desperately need public education and discussions like those Data Radicals if we are to hope to avoid AI’s dangers and realize its positive potential. It was a pleasure to be on the podcast to help advance this vital conversation.”

“Being a guest on Data Radicals was truly enjoyable,” said Wendy Batchelder, Senior Vice President and Chief Data Officer at Centene. “As a leader who has navigated many of the same data and AI challenges other executives face, it was an honor to discuss the critical role of trusted data in driving organizational innovation. We explored the importance of breaking down silos, understanding organizational dynamics, and the pivotal role data governance and DE&I play in creating impactful business outcomes.”

Upcoming guests for season three of Data Radicals include:
- Dr. Geraldine Wong, Chief Data Officer at GXS Bank
- Stewart Bond, Senior Vice President, Data Integration and Intelligence Software Research at IDC
- Jeremy Kahn, AI Editor at Fortune
- Chris Wiggins, Chief Data Scientist at The New York Times
- Dr. Raza Habib, CEO and co-founder of Humanloop
- Tom Davenport, Distinguished Professor of Information Technology and Management at Babson College, author of All-in on AI, and contributor to Harvard Business Review
Tune into Data Radicals to stay at the forefront of data and AI innovation and discover how these technologies drive business value and reshape the world. Episode one of Season 3, featuring Dr. Geraldine Wong, Chief Data Officer at GXS Bank, is available today anywhere you listen to podcasts.

Sign up for the Data Radicals newsletter here.

See new episodes at alation.com/podcast.

About Alation
Alation is the data intelligence company. Nearly 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analytics, cloud transformation, data governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit www.alation.com.

Media Contact
Lauren Lloyd
Director, Corporate Communications
541-490-6115
lauren.lloyd@alation.com

The MIL Network –
January 25, 2025
MIL-OSI: Americans Commonly Choose Top of Wallet Credit Cards Based on Loyalty and Rewards, According to CORA Group Survey
Source: GlobeNewswire (MIL-OSI)

WARMINSTER, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) — CORA Group (“CORA”), an operating portfolio of Jonas Software, a subsidiary of Constellation Software Inc., today shared results from its recent survey conducted online by The Harris Poll. More than 2,000 U.S. adults were surveyed on their card preferences and usage related to loyalty and rewards.

Key findings from the survey include:
- Loyalty and rewards lead in influencing which credit card Americans use to pay (55%), followed by convenience (40%), and credit limit (37%).
  - Brand loyalty (17%) is one of the lowest considerations.
  - Baby Boomers (ages 60-78) are the most likely to be influenced by loyalty and rewards programs, followed by Gen X (ages 44-59), Millennials (ages 28-43), and lastly Gen Z (ages 18-27). (Baby boomers 64%; Gen X 56%; 52% Millennials; 40% Gen Z.)
- Nearly three quarters of Americans (73%) cite rewards-related factors (i.e., ability to earn, redemption options, sign-up bonus, percent earned) as considerations when opening a new credit card compared to factors like interest rates (47%), security and fraud protection (44%), user experience (31%), existing relationship with issuer (22%), and status (19%).
- Earning points or miles on purchases is one of the most appealing credit card benefits to 45% of Americans.
This data demonstrate how comprehensive loyalty management solutions can increase share of wallet, transaction frequency, and customer spending. “These findings underscore the importance of offering consumers relevant loyalty and rewards programs,” said Denis Bronsan, portfolio manager at CORA. “Rewards are viewed as a form of currency, their value plays a crucial role in payments — they actively shape purchasing decisions, spending habits, and brand loyalty.”

Aligned with this trend, CORA’s recent acquisition of Carlson Marketing Solutions further expands its global portfolio, adding enterprise-level loyalty program management. The acquisition enhances the company’s ability to efficiently manage complex transactions while delivering greater personalization, program value, and targeted customer experiences.

Survey Method
This survey was conducted online within the United States by The Harris Poll on behalf of CORA Group from September 24-26, 2024 among 2,088 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact George Chalmers.

About CORA Group
CORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 30 independent software brands worldwide. Our roots in construction and food service have expanded to include debt collection & recovery, wine/spirits, moving/storage, loyalty, legal, and long-term care verticals. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services. CORA Group operates as one of the primary operating groups under Jonas Software, a subsidiary of Constellation Software Inc. This relationship reinforces CORA’s commitment to delivering industry-leading solutions and benefiting from the extensive resources and support provided by Jonas Software and Constellation Software Inc.

MEDIA CONTACT:
George Chalmers
Associate Director, M&A Corporate Development
george.chalmers@thecoragroup.com
https://thecoragroup.com

The MIL Network –
January 25, 2025
MIL-OSI: c/side Selected for TechCrunch Disrupt 2024 Startup Battlefield, Will Showcase AI-Driven Solution for Securing Vulnerable Third-Party Web Scripts

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) — c/side, a cybersecurity company with tools for monitoring, optimizing, and securing vulnerable browser-side third-party scripts, today announced its participation in TechCrunch’s upcoming Startup Battlefield 2024. Selected from thousands of startup applicants, c/side will demo its innovative AI-driven solution to a rapidly accelerating web security threat vector as part of TechCrunch Disrupt, held October 28-30 in San Francisco.

c/side is also co-hosting a social + learning event for the cybersecurity community at Disrupt alongside two other AI-centric security startups, FireTail and Socket, at the offices of Uncork Capital (a c/side investor). The event will be at 6:30pm on October 30th, the final day of Disrupt.

Founded earlier this year by cybersecurity expert Simon Wijckmans, c/side addresses one of the most challenging and consequential risks to business’ client-side web security. The company’s advanced proxy service and AI-driven threat detection engine offer a comprehensive toolkit to identify and neutralize malicious scripts in real-time—significantly enhancing website security and performance.

Accelerated growth following recent venture funding

c/side’s selection for TechCrunch’s Startup Battlefield follows the company’s successful $6 million seed funding round, led by Uncork Capital with participation from Mantis VC, Scribble Ventures, Roar Ventures, and PrimeSet. The round brings c/side’s total funding to $7.7 million since launching a few months ago, underscoring the criticality of c/side’s solution and the confidence investors have in its innovative approach.

“Startup Battlefield selection is a tremendous honor and a validation of our mission to secure the browser supply chain,” said Wijckmans, founder and CEO, c/side. “Recent high-profile attacks have highlighted the urgency of our work. At Disrupt, we look forward to showcasing how our AI-powered solution is making web security more accessible and effective for businesses of all sizes.”

Addressing a critical security gap

c/side’s technology tackles the growing threat of browser supply chain attacks, where malicious actors exploit vulnerabilities in third-party scripts to redirect website visitors, steal sensitive information, or manipulate website content. The company’s solution not only bolsters security but also simplifies compliance with stringent industry regulations like PCI DSS 4.0.

Experience c/side at TechCrunch Disrupt

Attendees of TechCrunch Disrupt at Moscone West in San Francisco are invited to see c/side’s technology in action. The c/side team will demonstrate how their solution revolutionizes client-side security, offering unparalleled protection against this sophisticated threat vector. c/side’s free tier is also now fully operational and available—anyone can sign up and begin securing their site in minutes. Business, Enterprise, and Partner tiers are in development; those interested can contact c/side here.

About c/side

c/side is a forward-thinking cybersecurity startup focused on browser-side detection and protection. Led by industry expert Simon Wijckmans, c/side is pioneering technologies to shield against sophisticated cyber threats, ensuring unparalleled security standards for users across the web.

Contact
Kyle Peterson
kyle@clementpeterson.com

The MIL Network –

January 25, 2025
MIL-OSI: Sarmayacar latest initiative Climaventures Fund Secures $15 Million Anchor Commitment from Green Climate Fund to Accelerate Climate-Tech Innovation in Pakistan

Source: GlobeNewswire (MIL-OSI)

Lahore, Pakistan, Oct. 23, 2024 (GLOBE NEWSWIRE) — Venture capital firm Sarmayacar is today announcing it has successfully secured $15m for its new Climaventures Fund from the Green Climate Fund (GCF), marking a significant milestone in the growth of Pakistan’s climate-tech ecosystem. This GCF funding will play an anchoring role in the new fund that Sarmayacar is targeting to have a hard cap of $40 million. An additional $10 million has been allocated to an affiliated venture accelerator program run by the National Rural Support Programme (NRSP) to support even earlier-stage climate-tech startups with a similar thesis. The final approval from the GCF Board, following its meeting in Songdo, South Korea, highlights the growing global interest in addressing Pakistan’s critical climate challenges with scalable, impactful solutions.

With this capital, the Sarmayacar Climaventures Fund will focus on empowering local startups in critical sectors such as renewable energy, electric mobility and sustainable agriculture. These ventures will receive both financial backing and strategic guidance to help accelerate their growth and environmental impact. By strengthening Pakistan’s climate-tech landscape, Sarmayacar aims to position the country as a key player in regional sustainability efforts while attracting international investment into climate-focused ventures.

Sarmayacar CEO and founder Rabeel Warraich with General Partner Bernhard Klemen

Sarmayacar, founded in 2018 as Pakistan’s first institutional venture capital firm, has been instrumental in advancing the country’s startup ecosystem. Its initial $25 million tech-focused fund, anchored by the International Finance Corporation (IFC), catalysed over $800 million in venture capital investments into Pakistani startups, and supported high-growth ventures across sectors such as fintech, e-commerce, healthtech, and logistics. Led by CEO and Founder, Rabeel Warraich and General Partner, Dr. Bernhard Klemen, the firm is now leveraging its experience and market-knowledge to address Pakistan’s climate challenges through its Climaventures Fund.

“Addressing Pakistan’s climate emergency requires an approach that fosters entrepreneurial innovation,” said Rabeel Warraich, CEO and Founder of Sarmayacar. “Our new climate fund – a first for Pakistan – will back founders building localised, scalable climate solutions for the country. We hope to spawn an entire climate venture ecosystem by leveraging our experience and connectivity in the country and beyond.”

Sarmayacar’s latest initiative taps into the global momentum behind climate-tech investment. According to the Climate Policy Initiative’s Global Landscape of Climate Finance 2023 report, global climate finance averaged $1.27 trillion annually in 2021-2022, nearly doubling from previous years. This surge underscores the urgent need to scale climate solutions globally. In Pakistan, where climate challenges are particularly acute, the Sarmayacar Climaventures Fund aims to back startups that contribute to the country’s broader environmental goals, driving both impact and sustainable growth. Despite contributing only 0.9% to global greenhouse gas emissions, Pakistan ranks as the 8th most vulnerable country to climate change, according to the Global Climate Risk Index.

Dr. Bernhard Klemen, General Partner at Sarmayacar added, “Since launching Pakistan’s first VC fund in 2018, Sarmayacar has built a track record of identifying and supporting market-transforming startups in the country. With this new climate-themed fund, we plan to replicate the playbook of our first fund and invest in commercially attractive opportunities that can also create significant impact. There is already an actionable pipeline which we hope to capitalise on with the support of reputable and like-minded partners like the GCF.”

The Green Climate Fund’s endorsement underscores the critical role that venture capital must play in addressing climate change, particularly in emerging markets. The fund will also help mobilise additional private capital, de-risking early-stage climate ventures and attracting further investment from global institutions.

Looking ahead, Sarmayacar aims to position Pakistan as a leader in climate-tech innovation, driving scalable solutions to tackle pressing climate challenges. With the Sarmayacar Climaventures Fund, the firm is committed to supporting the next generation of climate-tech entrepreneurs, ensuring they have the resources and expertise to succeed both locally and globally. By continuing to attract capital and fostering impactful ventures, Sarmayacar is helping to shape a more sustainable future for Pakistan and beyond.

Ends

Notes to the editor
Media images can be found here.

About Sarmayacar
Sarmayacar is Pakistan’s first institutional venture capital firm, backing early-stage tech startups across a variety of sectors. Since its inception, Sarmayacar has supported high-growth ventures with a focus on driving innovation and sustainable growth in Pakistan’s startup ecosystem.
For more information, please visit www.sarmayacar.com

About GCF
The Green Climate Fund is a global initiative established under the United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries reduce their greenhouse gas emissions and adapt to the impacts of climate change. GCF invests in low-emission, climate-resilient projects across various sectors, mobilising public and private sector resources to support climate action. For more information, please visit www.greenclimate.fund

The MIL Network –

January 25, 2025
MIL-OSI: TGS ASA rated ‘BB-‘ from S&P

Source: GlobeNewswire (MIL-OSI)

OSLO, Norway (23 October 2024) – TGS ASA, a leading provider of energy data and intelligence is assigned a ‘BB-‘ rating from S&P with stable outlook. S&P’s rating on TGS ASA reflects the company’s conservative financial policies and relatively strong credit measures after the transformative acquisition of PGS.

S&P is raising their issuer credit rating on TGS Newco (formerly PGS ASA) and its USD 450 million senior secured notes by three and two notches respectively, from ‘B-‘ to ‘BB-‘ and from ‘B’ to ‘BB-‘ with stable outlook.

The upgrade by S&P follows the upgrade by Moody’s from a B2 to a Ba3 rating as announced on 26 September 2024.

S&P’s press release announcing the rating action is available on their home page https://www.spglobal.com/.

For more information, visit TGS.com or contact:

Bård Stenberg
IR & Communication
Mobile: +47 992 45 235
investor@tgs.com

About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

The MIL Network –

January 25, 2025
MIL-OSI: Cloudbeds unveils industry’s first ‘smart hospitality engine’, powered by causal and multimodal AI
Source: GlobeNewswire (MIL-OSI)

San Diego, CA, Oct. 23, 2024 (GLOBE NEWSWIRE) — Cloudbeds has today revealed plans to become the world’s first property management system (PMS) to connect every facet of hotel operations into a single intelligence network, powered by causal and multimodal AI.

Unveiled at Cloudbeds’ Passport User Conference on October 23, the technology provider’s first-of-its-kind ‘smart hospitality engine’, Cloudbeds Intelligence, will sit at the core of its platform, empowering hoteliers with real-time insights and actionable recommendations across their entire operations.

The innovative platform layer harnesses multimodal AI, which integrates and processes multiple types of data including images and text, and causal AI, which identifies the cause-and-effect relationships within data, to enable accurate and informed decision-making to drive unified commercial strategies for hoteliers. By allowing hotels to better understand and react to price elasticity in the market, the model is projected to increase RevPAR by up to 15% and boost occupancy rates by up to 10%, while maintaining efficient workflows with existing hotel staff.

Cloudbeds Intelligence marks a breakthrough in eliminating the traditional silos of hotel management, empowering properties to take specific, data-backed actions across every function of their business – including revenue management, marketing, operations, and guest experience.

Adam Harris, Co-Founder and CEO of Cloudbeds, said: “Today, we’re redefining the standards for decision-making in hospitality. We’re not just giving hoteliers data-driven insights; we’re enabling them to take precise actions that deliver a unified, commercial strategy – from setting dynamic room rates to launching targeted marketing campaigns. Cloudbeds Intelligence will unlock new revenue potential for hoteliers across every aspect of their business.”

Amit Popat, Head of Machine Learning at Cloudbeds, added: “What Cloudbeds Intelligence does is far beyond traditional forecasting. By bringing together data from every department of the property and combining it with our rich data lake of forward-looking demand signals such as competitor rates, search data, events and holidays, Cloudbeds Intelligence can unlock the cause-and-effect relationships affecting not only the property’s revenue strategy, but also marketing, operations and guest experience. And more importantly – it can help pick the optimum combination of strategies to drive the property’s profitability. Whether it’s mitigating cancellations with predictive marketing suggestions or personalizing guest experience with tailored upsell recommendations, our supercharged platform will help hoteliers take the best actions to meet their goals. This level of decision intelligence simply hasn’t been available until now.”

By leveraging rich datasets from Cloudbeds and its partners, Cloudbeds Intelligence will empower hoteliers to take actionable steps to boost revenue, optimize their operations, and improve guest satisfaction.

Some of the capabilities Cloudbeds Intelligence will enable include:
- Unified revenue management and marketing: Hotels will be able to set optimal rates based on forward-looking demand signals and deploy targeted promotions to mitigate cancellations. If forecasted occupancy drops, the platform will not only suggest adjusting rates but also activate a marketing campaign with curated audience segmentation to attract last-minute bookings.
- Data-driven upselling and personalization: Cloudbeds Intelligence will enable hyper-personalized guest experiences by accurately predicting preferences and delivering highly targeted offers to guests, ensuring that hoteliers seize every upselling opportunity.
- Empowering staff: The new multimodal AI layer will equip the team with real-time search across their property’s unstructured training data on operational guidelines and guest preferences, including text content such as manuals, guest special requests and reviews, and also their property’s image library. This reduces staff onboarding time and improves service consistency.
To learn more about how Cloudbeds Intelligence will usher in a new era of decision making in hospitality, visit cloudbeds.com/ai.

ENDS

About Cloudbeds

Cloudbeds is the leading platform redefining the concept of PMS for the hospitality industry, serving tens of thousands of properties in more than 150 countries worldwide. Built from the ground up to be masterfully unified and scalable, the award-winning Cloudbeds Platform brings together built-in and integrated solutions that modernize hotel operations, distribution, guest experience, and data & analytics.

Founded in 2012, Cloudbeds has been named a top PMS, Hotel Management System and Channel Manager (2021-2024) by Hotel Tech Report, World’s Best Hotel PMS Solutions Provider (2022) by World Travel Awards, and recognized in Deloitte’s Technology Fast 500 in 2023. For more information, visit www.cloudbeds.com.

Attachment
- Introducing Cloudbeds Intelligence
The MIL Network –
January 25, 2025
MIL-OSI: Pay still drives employee attraction and retention, but current pay programs fall short

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) — About half of global employers report they are effectively delivering on each of the six individual core objectives of pay programs, despite pay being the most commonly cited reason employees join and stay with an employer. This is according to the 2024 Pay Effectiveness and Design Survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company.

The survey found that of the six core objectives related to pay program effectiveness — driving employee attraction, driving employee retention, promoting fair compensation among employees, promoting competitive compensation compared to employees at other organizations, aligning with business strategy, and rewarding employees for current-year performance — about half of employers report that they are effective at two of these objectives and fewer than half are effective at each of the other four.

Yet, related research shows that 48% of employees cite pay as one of the main drivers for attraction and retention — the most commonly cited factor for both, and more than half of employees (56%) would consider another job offer for better pay.

This disconnect is likely in part due to changes that have affected the nature of work over the past several years. Labor market conditions, such as talent shortages, generational shifts, and new work models, have contributed as well as socio-economic trends like the global pandemic and high inflation.

In addition to these external factors, lack of communication internally impacts overall pay effectiveness. Fewer than one in four say they are effective at communicating how employee pay is determined. Moreover, over half of employers (58%) think that salary compression is an issue and a similar percentage think it will be a problem in the next few years.

“Organizations likely haven’t been able to focus on the factors that drive pay program effectiveness for the past few years given the recent dynamics of the labor market,” said Lori Wisper, Managing Director and Work & Rewards Global Solutions Leader, WTW. “As current economic conditions have eased the labor market pressures, companies should take the opportunity to make the necessary changes to address those factors. Companies should start with updating their compensation philosophy, because it is critical for pay program effectiveness and can contribute to improved retention of key talent, employee productivity, and financial performance.”

Among companies that have updated their compensation philosophy in the last five years, the most commonly cited reasons for those changes are to enhance attraction or retention (69%) and to enhance the employee experience (51%). Other reasons include ongoing or regularly scheduled review and refresh (47%), building employee understanding (45%), and enhancing pay transparency (44%).

“With salary-increase season approaching, it’s an ideal time for companies to assess how their pay programs support values, ensure they align with the business strategy, and start improving the effectiveness of these programs to future-proof their workforce,” added Wisper.

About the survey

The 2024 Pay Effectiveness and Design Survey was conducted from May to June of 2024. Nearly 1,900 companies, representing more than 30 million employees across 65 countries, responded. In the U.S., 332 organizations responded.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media contacts:

Ileana Feoli
Ileana.feoli@wtwco.com

Stacy Bronstein
stacy.bronstein@wtwco.com

The MIL Network –

January 25, 2025
MIL-OSI: Surfshark introduces a free data leak-checking tool during Cybersecurity Awareness Month

Source: GlobeNewswire (MIL-OSI)

Surfshark is launching a new, free online Data Leak Checker, offering users an easy way to monitor the safety of their personal information in recognition of Cybersecurity Awareness Month this October. Powered by Surfshark Alert, this tool allows users to check if their personal data has been compromised in a data leak by simply entering their email address. It is designed to ensure that the entered email is not used for any marketing purposes.

The new Data Leak Checker features comprehensive scanning capabilities, allowing users to enter their email addresses to examine multiple sources for potential database and malware-related leaks. This tool continuously monitors the web to proactively ensure the security of users’ personal information across various platforms and detects instances where their data might have been compromised.

Upon completion of the scan, users receive a report divided into two key areas: database breaches and malware attacks. The database breaches section identifies large breached domains and compromised databases that may have included the user’s information. Meanwhile, the malware attacks section highlights potential vulnerabilities of the user’s email address due to malware activities on their device.

The database breach report shows the largest breached domains and compromised databases that user information was part of. For security reasons, some data may be hidden. However, complete and detailed information about the leak will be visible in Surfshark Alert.

“Globally, approximately 18 billion user accounts have been leaked over the last 20 years, according to Surfshark’s Global Data Breach Statistics. As we launch the Data Leak Checker, we stress the importance of knowing exactly where and how your data may have been compromised. Understanding breach details can empower individuals to take informed actions to protect their personal information and prevent further damage. This tool is simple and accessible for everyone, regardless of their level of technical expertise,” said Kornelija Vanage, Alert Product Owner at Surfshark.

If users discover that their data has been leaked online, it’s crucial to act quickly to mitigate potential damage. First, they should change the passwords for all affected accounts, ensuring each new password is strong and unique. They might consider using a password manager to help generate and store passwords securely. Additionally, enabling two-factor authentication (2FA) on all accounts that offer it can add an extra layer of security.

Users should then monitor their accounts for suspicious activity, such as unauthorized transactions or login attempts, and report any anomalies to the respective service providers. It’s important for users to be vigilant about phishing attempts, as attackers may use leaked information to craft convincing scams. Investing in tools that monitor data safety is also advised.

NOTES TO EDITORS Surfshark is a cybersecurity company focused on developing humanized privacy and security solutions. The Surfshark One suite includes one of the very few VPNs audited by independent security experts, an officially certified antivirus, a private search tool, and a data leak alert system. Surfshark ranks 47th in the Financial Times 1000: Europe’s Fastest Growing Companies list and is recognized as the Tech Advisor’s Editor’s Choice for 2024. For a closer look at Surfshark in 2023, visit our annual wrap-up.

The MIL Network –

January 25, 2025
MIL-OSI: Epsilon Energy Ltd. Schedules Third Quarter 2024 Earnings Release and Conference Call

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today announced that it will issue its third quarter 2024 earnings release on Wednesday, November 06, 2024 after the market close and host a conference call to discuss its financial and operating results on Thursday, November 7, 2024 at 2:00 p.m. Central Time (3:00 p.m. Eastern Time).

Interested parties in the United States and Canada may participate toll-free by dialing (833) 816-1385. International parties may participate by dialing (412) 317-0478. Participants should ask to be joined to the “Epsilon Energy Third Quarter 2024 Earnings Conference Call.”

A webcast can be viewed at: : https://event.choruscall.com/mediaframe/webcast.html?webcastid=S0pmngFY. A webcast replay will be available on the Company’s website (www.epsilonenergyltd.com) following the call.

About Epsilon

Epsilon Energy Ltd. is a North American onshore natural gas and oil production and gathering company with assets in Pennsylvania, Texas, New Mexico, and Oklahoma.

Contact Information:

281-670-0002

Jason Stabell
Chief Executive Officer
Jason.Stabell@EpsilonEnergyLTD.com

Andrew Williamson
Chief Financial Officer
Andrew.Williamson@EpsilonEnergyLTD.com

The MIL Network –

January 25, 2025
MIL-OSI: Craft Appoints Technology and Supply Chain Luminaries to Advisory Board
Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) — Craft, the supply chain resilience company, is proud to announce the launch of its Advisory Board with appointments of senior leaders and industry luminaries with deep technology, procurement, and supply chain experience across key global market sectors. Craft’s advisory board will provide strategic guidance and support to enhance Craft’s supply chain resilience offerings, advance its market position and help drive continued growth and innovation.

Craft’s Advisory Board members include:
- Chris Caine: President of the Center for Global Enterprise and former vice president at IBM
- Karen Evans: Managing director at the Cyber Readiness Institute and former chief information officer at Department of Homeland Security
- Mike Corbo: Former chief supply chain officer at Colgate-Palmolive, member of the board of directors at WK Kellogg Co
- Roger Goulart: Executive vice president of alliances and business development at Coupa, former vice president of alliances at SuccessFactors, Salesforce and Okta
- Sasha Pailet Koff: Former senior vice president, supply chain data analytics and automation at Dell Technologies and serves as co-chair of the Digital Supply Chain Institute (DSCI). Former vice president, supply chain technology at Johnson & Johnson
- Elvire Régnier-Lussier: Former global vice president at Unilever, former chief purchasing officer at L’OCCITANE Group, and serves as ambassador of the UNESCO chair towards a culture of economic peace
“Today marks a significant milestone for Craft — it underscores our dedication to leadership in supply chain resilience and to our commitment in helping customers address key challenges across a wide spectrum of risk domains including foreign influence, cybersecurity vulnerability, financial stability, ESG, and regulatory compliance,” said Ilya Levtov, CEO of Craft. “The advisory board’s extensive leadership and global management experience will serve as a valuable resource as Craft moves into its next phase of growth. We are honored to welcome such a distinguished group of industry leaders and look forward to advancing the industry together.”

“Advanced technologies like AI are reshaping supply chain operations. With this comes tremendous opportunity to impact procurement strategies and resilience. Craft is well positioned to lead the future of supplier risk management by providing advanced technologies that deliver the strongest data foundation, risk monitoring, and collaborative workspace to gain greater visibility into supplier risk and optimize value chain strategies across teams,” said Sasha Pailet Koff, newly appointed Craft advisory board member. “With Craft’s insight and emerging solutions, procurement and supply chain teams will have the potential to evolve into strategic partners, enhancing resilience across the entire enterprise. I’m thrilled to work with Craft and my fellow advisory board members to help shape this new era of modern supplier risk management.”

Craft is the intelligent supply chain resilience platform that enables organizations to know your suppliers, protect against disruptions; and optimize supply chain strategies. With Craft organizations can confidently navigate regulatory environments, uphold ethics, and drive business continuity and growth.

For more information about Craft.co and its new Advisory Board, please visit www.craft.co or contact press@craft.co .

About Craft.co
Craft illuminates the path to global supply chain resilience. It empowers businesses to strengthen their supplier networks and supply chains with the industry’s most reliable and comprehensive data fabric and advanced risk mitigation engine. Craft’s user-friendly platform offers 360-degree visibility to explore and evaluate supplier networks, AI-driven insights to detect and mitigate disruptions, and collaborative tools to enhance supply chain strategies. Procurement and supply chain professionals can confidently navigate regulatory environments, adhere to ethical standards, and ensure business continuity. Headquartered in San Francisco, CA, Craft assists commercial and governmental organizations worldwide in creating more resilient supply chains. For more information about Craft, visit www.craft.co.

The MIL Network –
January 25, 2025
MIL-OSI: myStylus Introduces Gen3 AI-powered writing tool

Source: GlobeNewswire (MIL-OSI)

NICOSIA, Cyprus, Oct. 23, 2024 (GLOBE NEWSWIRE) — myStylus, a pioneering leader in AI-driven writing and research tools, has announced the release of Gen3, an innovative AI companion that revolutionizes the essay-writing process.

Known for its advanced solutions in intelligent writing, myStylus is at the forefront of enhancing academic and professional writing experiences through AI, ensuring users achieve precision, credibility, and creativity in their work.

As a powerful platform tailored to students, researchers, and writers, Stylus offers users access to multiple AI language models and tools. Gen3 brings a suite of enhancements designed to make writing faster, more accurate, and fully aligned with academic standards.

“Gen3 represents a significant leap forward in AI writing technology,” stated a spokesperson for myStylus. “With features like our proprietary reference analysis method and improved citation accuracy, we are setting new standards in academic integrity and efficiency.”

Gen3 introduces several groundbreaking features that redefine the writing experience. Among the most notable is myStylus’s proprietary method of reference analysis, which enables a deeper understanding of document content and citation relevance. By taking just 10 to 30 seconds per document, this innovation ensures that users’ references are meticulously analyzed, delivering a high level of academic rigor and accuracy.

In addition, Gen3 offers enhanced reference search capabilities, leveraging a refined algorithm that employs a collection of neural networks to rank and rerank retrieved academic articles. This upgraded search functionality allows users to access an expanded database of credible academic sources, ensuring the highest standards of research quality. Validation processes have also been incorporated to confirm the accuracy and discoverability of uploaded PDFs.

The professional team at myStylus has been working to identify how to develop papers that do not trigger AI detection programs, and the group’s thorough analysis of prior documents has helped identify processes that can work when producing new content.

Gen3 optimizes the writing process through its multi-stage text generation system, which includes an automatic outline generator and summary. This feature enables users to preview the structure of their papers, ensuring clarity and coherence from the outset.

Furthermore, Gen3 offers unparalleled direct citation accuracy, providing precise page numbers for all references to streamline verification and maintain consistency across documents—an innovation unique to myStylus in the AI writing landscape.

In addition to these groundbreaking features, Gen3 includes AI tools that enhance every step of the writing process. Users benefit from AI-powered chat research that adapts to each user’s writing style and document requirements, step-by-step writing flow that simplifies essay writing by breaking it into manageable steps, and personalized smart editing whereby the platform tailors editing suggestions to align with each user’s unique writing style.

For those seeking additional functionalities, mystylus.ai also offers tools such as AI Humanaizer, Paper Grader, Paraphraser, and AI Detector, which further streamline and enhance the writing experience.

Stylus stands out from other AI solutions like ChatGPT by prioritizing original content, coherence, and formatting. It provides automatic access to reliable academic sources, allowing users to focus on writing rather than searching for references. Additionally, myStylus’s advanced plagiarism detection ensures the originality of every piece, reinforcing its commitment to academic integrity and quality.

The myStylus Gen3 platform is intended to be extremely valuable to a wide range of users, particularly students, researchers, and academic writers. Students in high school, college, and graduate schools will find the approach useful for producing essays, research papers, and dissertations.

Students may swiftly locate and validate sources using Gen3’s comprehensive reference analysis, ensuring they use reputable information to back their views. Researchers in academia will also benefit from the enhanced reference search and citation accuracy tools. Gen3 makes it simple to find relevant studies, arrange them, and properly reference them. This saves time and guarantees that their work satisfies the high standards of scholarly publishing.

Writers, journalists, and corporate staff will benefit from the optimization of the text generation process. Gen3’s ability to quickly generate outlines and summaries enables them to efficiently prepare and draft complicated documents, ranging from reports to proposals, while ensuring proper citations.

Finally, myStylus Gen3 provides a reliable solution for anyone wishing to expedite their writing process while retaining high levels of accuracy and professionalism.

mystylus.ai offers a range of subscription plans to meet different user needs, from a Free plan with basic features to a comprehensive Annual plan that includes unlimited access to all tools. Priced at $19.95 per month, the Monthly plan also provides full access to features like AI Text Editing, Paraphrasing, and Proofreading.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f79b732-56d5-4432-86d4-0bb77035c038

The MIL Network –

January 25, 2025
MIL-OSI: Agence France Locale: Fitch maintains AFL’s”AA-“ rating with a negative outlook
Source: GlobeNewswire (MIL-OSI)

Lyon, October 23^th, 2024

–
Fitch maintains AFL’s”AA-“ rating
with a negative outlook
–

Following the revision of France’s outlook to “negative”, Fitch Ratings confirmed AFL’s “AA-” rating, yet with a negative outlook.

At the beginning of September 2024, Fitch Ratings has for the first time granted AFL, the bank for local authorities, a “AA-” long-term rating and a “F1+” short-term rating, with a stable outlook, equivalent to that of the French State.

Following Fitch Ratings’ decision on October 11, 2024 to maintain the Sovereign’s rating at AA- but to revise the outlook (from stable to negative), the rating agency also revised the outlook for all local authorities and agencies with a rating equivalent to that of the French State, including AFL.

Besides, AFL maintains S&P’s “AA-” rating with a stable outlook.

AFL credit rating at 23 October 2024

Rating/Rating agency Fitch Ratings Standard & Poor’s

Long term AA-, negative outlook AA-, stable outlook

Short-term rating F1+, negative outlook A-1+, stable outlook

About AFL

“The Company’s mission is to embody a responsible finance to strengthen the local world’s empowerment so as to better deliver the present and future needs of its inhabitants.”

By creating our bank, the first one that we own and manage, we, French local authorities, have decided to act to deepen decentralization. Our bank, Agence France Locale (AFL), is not a financial institution similar to any other. Created by and for local authorities, it aims to strengthen our freedom, our ability to develop projects and our responsibility as local public actors. Its culture of prudence spares us from the dangers of complexity and its governance from downward slides of conflicts of interest. The main objective is to provide local world with an access to cost-efficient resources, under total transparency. The principles of solidarity and equity drive us. We are convinced that together we go further. We decided that our institution would be agile, addressing all types of local authorities, from the largest regions to the smallest municipalities. We see profit as a means to maximize public spending, not as an end goal. Through AFL, we support a local world committed to take up social, economic, and environmental challenges. AFL strengthens our empowerment: to carry out projects in our territories, today and tomorrow, to the benefits of the inhabitants. We are proud to have a bank whose development is like us, even more responsible and sustainable. We are Agence France Locale.

Attachment
- CP Fitch – Negative outlook
The MIL Network –
January 25, 2025
MIL-OSI: Bitget Wallet Integrates ApeChain for Enhanced DApp and Meme Coin Trading

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Oct. 23, 2024 (GLOBE NEWSWIRE) — Bitget Wallet is thrilled to announce its integration with the ApeChain mainnet, the native blockchain of the Bored Ape Yacht Club. This collaboration opens exciting opportunities for users to engage with the ApeChain ecosystem, enhancing DApp interactions and meme coin trading experiences.

With the Bitget Wallet browser extension and mobile app, users can effortlessly switch to the ApeChain network without complex manual setups. This simplifies coin additions, enables seamless transfers, and provides straightforward access to decentralized exchanges (DEXs) for trading. Looking ahead, Bitget Wallet plans to introduce popular meme coin swap functionality and real-time market data for ApeChain, further enriching the trading experience.

Integrating ApeChain lowers the barrier to entry for users eager to explore this vibrant ecosystem and discover trending meme coins. With the ability to quickly tap into market hotspots and seize breakout opportunities, Bitget Wallet becomes an essential tool for savvy traders. Additionally, a dedicated section for ApeChain DApps has been added to the Bitget Wallet’s “Discover” tab, allowing users to connect easily with various decentralized applications and access innovative projects within the ecosystem.

In just 12 hours since its launch, ApeChain has recorded over 360,000 transactions, generating 495.17 APE in transaction fees, demonstrating its significant market potential. As the ApeChain ecosystem evolves, Bitget Wallet remains committed to enhancing its platform with more functionalities and services related to ApeChain, ensuring users receive the best possible trading experience.

“With BAYC’s launch of ApeChain, we’re witnessing a pivotal shift in the crypto landscape,” said Alvin Kan, COO of Bitget Wallet. “As the NFT market faces declining interest, meme coins are emerging as the new frontier of crypto trading, much like NFTs did in their prime. This surge in meme coin popularity is attracting new investors and reshaping market sentiment. Bitget Wallet is dedicated to supporting the ApeChain ecosystem by providing seamless access to its DApps and facilitating meme coin trading, ensuring our users remain at the forefront of this dynamic environment.”

About Bitget Wallet

Bitget Wallet stands as one of the world’s leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 500,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.

For more information, visit: Website | Twitter | Telegram | Discord

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a5b7a4d-7b1b-4398-92c6-2a323c11ff16

The MIL Network –

January 25, 2025

Rating/Rating agency	Fitch Ratings	Standard & Poor’s
Long term	AA-, negative outlook	AA-, stable outlook
Short-term rating	F1+, negative outlook	A-1+, stable outlook