NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: housing

  • MIL-OSI Africa: McKenzie unveils R6.3 billion budget to boost local talent in sports and arts

    Source: Government of South Africa

    Sport, Arts and Culture Minister Gayton McKenzie has tabled a R6.3 billion budget this morning that he believes will help unlock local talent in both the sports, and arts and culture sectors.

    “Change is difficult, but it’s necessary… Access and opportunity matter, and even the greatest of talents need that opportunity. That is why, to invest in all our talent, both in sport, and arts and culture, as well as preserving our heritage, the department has a budget of R6.3 billion for the 2025/26 financial year,” McKenzie said on Tuesday in Parliament. 

    Under Programme 2, Recreation Development and Sport Promotion, the Minister announced that the department will allocate R1.281 billion. 

    To continue supporting sports in the country, McKenzie said R98.5 million will be allocated toward federation support.

    “One of the biggest changes coming for our federations will be the provision of an office building for them to share, as many have been running their sports out of the boots of their cars.” 

    WATCH | 

    [embedded content]

    To support and develop local talent, the department has allocated over R627 million through the conditional grant for this financial year. 

    According to the Minister, funding will be used for the purchase of equipment and attire for schools, clubs and hubs, as well as for training individuals in coaching, technical officiating, administration courses, and employment opportunities.

    Repatriation

    Under Programme 4, Heritage Promotion and Preservation, the department has allocated R2.787 billion, which includes R1.6 billion for the construction, maintenance, upgrading, and operation of valued libraries.

    “Following the success of our inaugural programme to return the remains of South African fallen heroes from Zimbabwe and Zambia last year, we shall continue to repatriate the human remains of freedom fighters who fell outside the country during the struggle.

    “I am told that there could still be 5 000 bodies that need to be returned, and we should not rest until they are home.” 

    READ | Government, judiciary reaffirm commitment to justice

    The Minister said they are currently negotiating with Scottish authorities to repatriate the remains of Khoi and San ancestors from the University of Glasgow’s Hunterian Museum by September 2025. 

    He also mentioned that government is nearing the conclusion of the reburial process for 58 ancestral remains from the Northern Cape.

    This effort is guided by the Northern Cape Reburial Task Team, which includes representatives from the Nama, Griqua, Korana, and San communities.

    Museums

    The ministry is also driving a campaign, under the theme: “Reimagining South African Heritage for a New Era”, which is aimed at making museums relevant to a new, curious generation, ultimately increasing visitor numbers.

    “One of the first projects we are focusing on is Robben Island, which is undergoing a major revamp and facelift.”

    Creative arts

    Under Programme 3, focused on Arts and Culture Promotion and Development, his department is allocating R1.725 billion. 

    To enhance skills and transform the cultural and creative industries, he stated that they will continue to recruit and place approximately 300 young people. 

    This initiative aims to improve their chances of gaining employment and becoming self-employed in creative fields.

    Sector clusters

    He announced that the interim boards for the 17 sector clusters within the cultural and creative industry are now fully operational. 

    These boards are responsible for organising their respective sectors, promoting collaboration, and addressing challenges such as copyright protection, fair labour practices, and equitable distribution of funding. 

    According to the Minister, they will receive a total budget of R34 million to support their operations.

    “We understand the frustration of our creatives. For the past 30 years and the years before that, they have not seen their lives change for the better.”

    In support of the preservation and development of the Khoi and San languages, the N|uu language in particular, the department is setting aside R2 million for a targeted call for proposals to preserve these languages. – SAnews.gov.za

    MIL OSI Africa –

    July 16, 2025
  • MIL-OSI Analysis: How women are trapped in years of homelessness that often begin in their teens

    Source: The Conversation – Canada – By Mary Vaccaro, Lecturer in Social Work, McMaster University

    Many women without children in their care who become homeless in Canada remain homeless for many years. Yet their experiences remain misunderstood and largely ignored because of the ways we define and measure homelessness in Canada.

    I have worked in the women’s emergency shelter system in Hamilton, Ont., since 2012. I have met many women who have been navigating homelessness for years — with no permanent solution to their housing crisis. For my PhD in social work, I interviewed 21 women who had experienced homelessness for a year or longer in Hamilton. I asked them about their experiences, and through art-based activities, about their ideas for housing and support.

    What I learned in the interviews, combined with existing research, highlights a hidden crisis. Within our current system resides a profound human cost that manages, instead of resolves, homelessness.

    Many women who experience homelessness do so for far longer than the federal government’s definition of chronic homelessness, which is six consecutive months or 18 months over three years. Research from the United Kingdom that focuses on long-term and unresolved homelessness for women found that the ways women experience homelessness is to “go around in circles” without having their housing or support needs met.

    Among the women I spoke with, more than half had been experiencing homelessness for 10 years or longer. Six of the the women said they have never had a safe place of their own to live for the entirety of their adult lives.

    All of the women who participated in this project accessed the services offered by the homeless serving sector, including shelters and outreach workers, designed to resolve their homelessness. Yet none of these women were able to have their housing and support needs met.

    This means their experience of homelessness has persisted for years, and even decades.

    Homelessness often starts in their teens

    More than half of the participants I spoke with first experienced homelessness before they turned 18. Their primary route into youth homelessness was gender-based violence. They ran away from home when they were teenaged girls to escape violence and became caught in a cycle of events that include: hospitalization, incarceration, staying in youth shelters, living in group homes and unsafe places.

    The Pan-Canadian Women’s Housing and Homelessness Survey, as well as a study on Toronto youth, echo what the women I spoke with told me. Studies from the United States also confirm similar patterns — homelessness begins early in life for a majority of women, and is often followed by a chronic, chaotic churn of precarious housing and homelessness situations.

    The women in my study described a frustrating and exhausting cycle of going among institutions such as hospitals, jails, emergency shelters, drop-in programs and transitional housing programs. They had all spent periods of time living outdoors, in encampments, in motels, with unsafe people and in other precarious and temporary housing arrangements. This phenomena is well-documented in existing Canadian research.

    Better definitions, better data

    The Canadian government defines those who have been homeless and using shelters for more than 180 days a year as experiencing “acute chronicity.”

    Another term used by the federal government for individuals who have accessed shelters at least once in each of the last three years is “prolonged instability.”

    People who meet one or both of these criteria are considered to have the highest housing needs in the country.

    According to recent federal data, women and gender-diverse people across Canada experience slightly higher rates of acute chronicity than men (13.4 per cent for men, 15.4 per cent for women, and 13.9 per cent for gender-diverse people). But the real numbers for women are likely much higher due to under-reporting.

    Research shows women remain invisible to official systems during periods of homelessness. For example, the available data relies solely on information about emergency shelter usage. It does not capture experiences of homelessness that occur outside of the shelter system.

    Women are less likely than their male counterparts to access shelters and other formal supports. Instead, they rely on precarious, unsafe and temporary housing arrangements to navigate homelessness.

    In Canada, there are also fewer emergency women-specific shelter beds than for men

    Rethinking responses to long-term homelessness

    For the women I spoke with, the official 180 days or three years that makes someone officially chronically homeless in Canada does not even begin to describe the length and complexity of their experiences of homelessness.

    They described wanting to live in supportive, gender-specific housing programs that foster community and care. Highly supportive housing typically integrates health and social services and a range of other support services. This type of integrated housing does exist across Canada — examples are the Block Line Supportive Housing Program operated by YWCA Kitchener-Waterloo and the Women’s Building (Alpha House) in Calgary — but there is not enough of it.

    The current measurements from the government of Canada fall short of capturing the complexity of the homeless experience for many Canadian women.

    Government officials must therefore not only rethink their definitions of those in the most housing need, they must develop responsive housing solutions to meet the needs of women who have been homeless for many years.

    Mary Vaccaro consults for YWCA Hamilton. She receives funding from the Social Sciences and Humanities Research Council of Canada.

    – ref. How women are trapped in years of homelessness that often begin in their teens – https://theconversation.com/how-women-are-trapped-in-years-of-homelessness-that-often-begin-in-their-teens-259239

    MIL OSI Analysis –

    July 16, 2025
  • MIL-OSI Security: Defendants Sentenced for Trafficking Methamphetamine in Middle Georgia

    Source: US FBI

    Investigation Began Following 11-Kilo Meth Seizure in Macon; Fentanyl Mixtures Seized

    MACON, Ga. – Four defendants involved in a methamphetamine trafficking conspiracy in Macon responsible for pushing kilogram quantities of the illegal drug into the community were sentenced to federal prison today for their crimes.

    Denzelle Diangelo Willis, 34, of Macon, was sentenced to serve 278 months in prison to be followed by five years of supervised release. Willis previously pleaded guilty to one count of conspiracy to possess with intent to distribute methamphetamine on March 24.

    James Richard Fuller, 33, of Macon, was sentenced to serve 181 months in prison to be followed by five years of supervised release. Fuller previously pleaded guilty to one count of possession with intent to distribute methamphetamine on March 24.

    Julio Cesar Mendez, aka “Migo,” 29, of Macon, was sentenced to serve 135 months in prison to be followed by five years of supervised release. Mendez previously pleaded guilty to one count of distribution of methamphetamine on March 24.

    Deion Jocoley Howard, 31, of Macon, was sentenced to serve 53 months in prison to be followed by five years of supervised release. Howard previously pleaded guilty to one count of conspiracy to possess with intent to distribute methamphetamine on March 24.                         

    The sentencing hearings occurred on July 10 before U.S. District Judge Marc Treadwell. There is no parole in the federal system.

    “All those associated with these criminal organizations pushing large quantities of the most deadly and addictive drugs into the Middle District of Georgia will find their cases in federal court,” said U.S. Attorney William R. “Will” Keyes. “Our office is working closely with our local, state and federal law enforcement partners to make our communities safer.”

    “This case represents the continued commitment of the DEA to identify and hold accountable those who engage in the distribution of dangerous drugs,” said Jae W. Chung, the Acting Special Agent in Charge of the DEA Atlanta Division. “These defendants had total disregard for their actions that far too often have tragic consequences.”

    According to court documents and statements made in court, Drug Enforcement Administration (DEA) agents, with assistance from the Bibb, Peach and Monroe County Sheriff’s Offices, began investigating a drug trafficking organization operating in Macon in November 2022, after FBI agents seized nearly eleven kilograms of methamphetamine resulting from a separate investigation into Julian Coker’s drug trafficking organization (for more information about this case, please visit https://www.justice.gov/usao-mdga/pr/leader-armed-drug-trafficking-organization-sentenced-28-years-prison). DEA agents learned that Willis and Mendez sold methamphetamine and heroin throughout the Macon area. Between February and March 2023, agents used Confidential Informants (CI) to conduct three methamphetamine buys from Mendez and two heroin buys from Willis; the substances were later tested and contained fentanyl.

    Using court-authorized wiretaps and surveillance, agents discovered Mendez maintained a stash house on Melbourne Street in Macon and supplied ounce quantities of methamphetamine and marijuana to a network of street-level dealers. Howard was a freelance illegal drug broker in Macon who facilitated drug transactions between mid-level dealers and upper-level suppliers. Howard connected Mendez with Willis’s methamphetamine supply. Willis obtained kilogram quantities of methamphetamine from a source in the Atlanta area for distribution in the Macon area. Fuller was Willis’s courier for resupply trips and deliveries to mid-level dealers.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs) and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The case was investigated by the DEA with assistance from the Bibb County Sheriff’s Office, the Monroe County Sheriff’s Office and the Peach County Sheriff’s Office.

    Criminal Chief Leah E. McEwen prosecuted the case for the Government.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI Africa: Select Committee on Education Notes Policy Framework on Internationalisation but Calls for More Information

    Source: APO


    .

    The Select Committee on Education, Sciences and Creative Industries has noted the Policy Framework on Internationalisation of universities as presented by the Department of Higher Education and Training on Tuesday.

    The Chairperson of the committee, Mr Makhi Feni, called on the department to provide updated statistical information, that will help the committee to act from an informed perspective on issues in the sector. He said: “We appreciate this initiative but we call on the department to ensure that it empowers black South Africans, the previously disadvantaged and other vulnerable groups.

    “Keeping up with international standards is ideal but such move must empower South Africans. We must not be swallowed up in convenient phrases, but we want South Africans to equally influence the world through research output that does not regurgitate international models.”

    Minister Nobuhle Nkabane led the departmental delegation in the meeting with the committee this morning. She informed the committee that the policy will serve as a guideline to South Africa’s institutions of higher education.

    Mr Feni said the policy is urgent and that in the era of indigenous knowledge systems and decolonised knowledge, we should be able to make conditions conducive for black South African scholars at home and abroad. “But in the absence of relevant and reliable information, we are unable to do anything. Even the swirling complaints about foreign nationals uprooting Black South Africans from their system will continue,” Mr Feni said.

    Mr Feni said the development of a policy framework must not be delayed as Black South Africans legitimately feel they are being substituted by foreign nationals. “There will be claims of xenophobia, when in fact this was something that could have easily been avoided.”

    Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

    MIL OSI Africa –

    July 16, 2025
  • NHAI releases second sustainability report, showcases green milestones

    Source: Government of India

    Source: Government of India (4)

    The National Highways Authority of India (NHAI) has released its second consecutive Sustainability Report for the financial year 2023–24, reaffirming its strong commitment towards environmental sustainability and responsible infrastructure development.

    The report, launched by Union Minister for Road Transport and Highways Nitin Gadkari, highlights NHAI’s integrated framework for Environmental, Social, and Governance (ESG) practices and its alignment with India’s global commitments under the Mission LiFE (Lifestyle for Environment) initiative and the vision of Hon’ble Prime Minister Shri Narendra Modi for a sustainable future.

    Despite a 20% rise in National Highway construction in FY 2023–24, NHAI has successfully reduced its Greenhouse Gas (GHG) Emissions Intensity from 1.0 MTCO2e/km to 0.8 MTCO2e/km, indicating a clear decoupling of construction growth from emissions.

    Promoting a circular economy remains central to NHAI’s efforts. In the reporting year, more than 631 lakh metric tonnes of recycled and reused materials — including fly ash, plastic waste, and reclaimed asphalt — were utilized in highway construction.

    Afforestation and plantation have also received a major push. Over 56 lakh saplings were planted in FY 2023–24 and 67.47 lakh saplings have already been planted in 2024–25, taking the total tree plantation count to over 4.69 crore since the rollout of the Green Highways Policy, 2015. This large-scale plantation has helped create substantial carbon sinks and enhanced the environmental balance along India’s highways.

    The report also documents NHAI’s conservation initiatives under the Amrit Sarovar Mission, with 467 water bodies rejuvenated across the country. These efforts have revitalised local water resources and supplied nearly 2.4 crore cubic metres of soil for road construction, yielding estimated savings of around ₹16,690 crore.

    Water use intensity in water-stressed regions has dropped by 74% compared to previous levels. Additionally, the authority has implemented best practices to mitigate the impact of highways on wildlife and minimise man-animal conflicts.

    On the social front, NHAI has reinforced inclusive and safe work practices. All direct employees and contract workers are now covered under the Occupational Health and Safety (OHS) Management Framework. The organisation also recorded zero instances of workplace discrimination, underlining its commitment to diversity and equity.

    Technology has played a crucial role in these achievements. The AI-driven Data Lake 3.0 platform has streamlined project management and helped resolve 155 conciliation claims, resulting in an estimated saving of about ₹25,680 crore. The widespread adoption of FASTag, with a penetration rate of 98.5%, has further reduced congestion at toll plazas, cutting vehicular emissions and the overall carbon footprint.

    July 16, 2025
  • NHAI releases second sustainability report, showcases green milestones

    Source: Government of India

    Source: Government of India (4)

    The National Highways Authority of India (NHAI) has released its second consecutive Sustainability Report for the financial year 2023–24, reaffirming its strong commitment towards environmental sustainability and responsible infrastructure development.

    The report, launched by Union Minister for Road Transport and Highways Nitin Gadkari, highlights NHAI’s integrated framework for Environmental, Social, and Governance (ESG) practices and its alignment with India’s global commitments under the Mission LiFE (Lifestyle for Environment) initiative and the vision of Hon’ble Prime Minister Shri Narendra Modi for a sustainable future.

    Despite a 20% rise in National Highway construction in FY 2023–24, NHAI has successfully reduced its Greenhouse Gas (GHG) Emissions Intensity from 1.0 MTCO2e/km to 0.8 MTCO2e/km, indicating a clear decoupling of construction growth from emissions.

    Promoting a circular economy remains central to NHAI’s efforts. In the reporting year, more than 631 lakh metric tonnes of recycled and reused materials — including fly ash, plastic waste, and reclaimed asphalt — were utilized in highway construction.

    Afforestation and plantation have also received a major push. Over 56 lakh saplings were planted in FY 2023–24 and 67.47 lakh saplings have already been planted in 2024–25, taking the total tree plantation count to over 4.69 crore since the rollout of the Green Highways Policy, 2015. This large-scale plantation has helped create substantial carbon sinks and enhanced the environmental balance along India’s highways.

    The report also documents NHAI’s conservation initiatives under the Amrit Sarovar Mission, with 467 water bodies rejuvenated across the country. These efforts have revitalised local water resources and supplied nearly 2.4 crore cubic metres of soil for road construction, yielding estimated savings of around ₹16,690 crore.

    Water use intensity in water-stressed regions has dropped by 74% compared to previous levels. Additionally, the authority has implemented best practices to mitigate the impact of highways on wildlife and minimise man-animal conflicts.

    On the social front, NHAI has reinforced inclusive and safe work practices. All direct employees and contract workers are now covered under the Occupational Health and Safety (OHS) Management Framework. The organisation also recorded zero instances of workplace discrimination, underlining its commitment to diversity and equity.

    Technology has played a crucial role in these achievements. The AI-driven Data Lake 3.0 platform has streamlined project management and helped resolve 155 conciliation claims, resulting in an estimated saving of about ₹25,680 crore. The widespread adoption of FASTag, with a penetration rate of 98.5%, has further reduced congestion at toll plazas, cutting vehicular emissions and the overall carbon footprint.

    July 16, 2025
  • MIL-OSI: White River Bancshares Co. Reports Net Income of $3.30 million, or $1.34 Per Diluted Share, in 2Q25; Results Driven by Loan Growth and Net Interest Margin Expansion

    Source: GlobeNewswire (MIL-OSI)

    FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to $3.30 million, or $1.34 per diluted share, in the second quarter of 2025, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024. The Company reported net income of $2.63 million, or $1.07 per diluted share, for the prior quarter. In the first six months of 2025, net income increased to $5.93 million, or $2.42 per diluted share, compared to $2.36 million, or $1.11 per diluted share, in the first six months of 2024. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.

    “We had a strong second quarter—the most profitable quarter we’ve ever had,” said Gary Head, Chairman and CEO. “We have been blessed to have incredible loan growth throughout the history of our company, and we build on that momentum quarter after quarter. Our Signature Bank family is the best group of bankers I’ve been associated with in my 43-year banking career. Their teamwork and commitment to excellence consistently go above and beyond expectations.”

    “As a community bank, expanding our deposit base to support new loan growth is critical,” said Scott Sandlin, Chief Strategy Officer. “Our Bank has made deposit gathering a primary focus, and our team has done an outstanding job—deepening relationships with existing clients while also bringing in new customers. As a result, total deposits increased 4.0% during the second quarter of 2025 and 23.2% year-over-year. At quarter end, demand and non-interest bearing accounts represented 18.7% of total deposits, and savings and interest-bearing transaction accounts represented 38.4% of total deposits. We will continue to actively seek more opportunities to grow deposits in the coming quarters to meet the increasing demand for loans.”

    Second Quarter 2025 Financial Highlights:

    • Net income for the second quarter of 2025 increased to $3.30 million, or $1.34 per diluted share, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024.
    • Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024.
    • Net interest margin (“NIM”) increased 31 basis points to 3.56% in the second quarter of 2025, compared to 3.25% in the second quarter of 2024.
    • The Company recorded an $800,000 provision for credit losses in the second quarter of 2025, compared to a $432,000 provision for credit losses in the second quarter of 2024.
    • Net loans increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024.
    • Nonperforming loans represented 0.03% of total loans at June 30, 2025, compared to 0.00% a year ago.
    • Total deposits increased $235.3 million, or 23.2%, year-over-year, to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024.
    • Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 70.10% of total deposits at June 30, 2025.
    • Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 a year ago.

    Income Statement

    In the second quarter of 2025, the Company generated a return on average assets of 0.94% and a return on average equity of 12.62%, compared to 0.79% and 10.64%, respectively, in the first quarter of 2025 and 0.63% and 8.26%, respectively, in the second quarter of 2024.

    “Our second quarter net interest margin expanded by 17 basis points from the previous quarter and 31 basis points year-over-year, driven by loan growth and increased yields on our interest-earning assets,” said Brant Ward, President. NIM was 3.56% in the second quarter of 2025, compared to 3.39% in the first quarter of 2025, and 3.25% in the second quarter of 2024. In the first six months of 2025, NIM expanded 37 basis points to 3.48%, compared to 3.11% in the first six months of 2024.

    Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 24.8% to $21.2 million in the second quarter of 2025, compared to $17.0 million in the second quarter of 2024, primarily attributable to the increase in loans. Total interest expense increased to $9.3 million in the second quarter of 2025, from $8.0 million in the second quarter of 2024, primarily due to an increase in deposit costs. In the first six months of 2025, net interest income increased 31.9% to $22.5 million, compared to $17.1 million in the first six months of 2024.

    Noninterest income increased 7.9% to $2.1 million in the second quarter of 2025, compared to $1.9 million in the second quarter of 2024. The increase was primarily due to an increase in secondary market fee income, which more than offset the decrease in wealth management fee income during the second quarter of 2025. In the first six months of 2025, noninterest income increased 14.5% to $4.0 million, compared to $3.5 million in the first six months of 2024.

    Noninterest expense was $8.9 million in the second quarter of 2025, compared to $8.1 million in the second quarter of 2024, as expenses have normalized following the investment in expanding the Company’s market presence over the past few years. In the first six months of the year, noninterest expense increased 6.0% to $17.4 million, compared to $16.4 million in the first six months of 2024.

    Balance Sheet

    Total assets increased 18.4% to $1.434 billion at June 30, 2025, from $1.211 billion at June 30, 2024, and increased 4.0% compared to $1.379 billion at March 31, 2025. Cash and cash equivalents totaled $25.6 million at June 30, 2025, compared to $49.5 million a year ago. Investment securities totaled $140.5 million at June 30, 2025, an increase from $115.5 million at June 30, 2024.

    Loans, net of allowance for credit losses, increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024, and increased 5.9% compared to $1.128 billion at March 31, 2025.

    Total deposits increased 23.2% to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024, and increased 4.0% compared to $1.201 billion at March 31, 2025. Demand and non-interest-bearing deposits decreased less than 1% compared to June 30, 2024, while savings and interest-bearing transaction accounts increased 37.6% compared to June 30, 2024.

    FHLB advances were $21.5 million at June 30, 2025, compared to $54.3 million at June 30, 2024, and $21.6 million at March 31, 2025. Total stockholders’ equity increased to $102.5 million at June 30, 2025, compared to $92.0 million at June 30, 2024, and $100.5 million at March 31, 2025. Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 at June 30, 2024, and $40.33 at March 31, 2025.

    Credit Quality

    Due to strong quarterly loan growth, the Company recorded an $800,000 provision for credit losses in the second quarter of 2025. This is compared to a $670,000 provision for credit losses in the first quarter of 2025, and a $432,000 provision for credit losses in the second quarter of 2024.

    There were $365,000 in nonperforming loans at June 30, 2025. This compared to $420,000 in nonperforming loans at March 31, 2025, and $32,000 in nonperforming loans at June 30, 2024. Nonperforming loans represented 0.03% of total loans on June 30, 2025, 0.04% of total loans on March 31, 2025, and 0.00% of total loans a year ago.

    “We remain conservative in building our credit loss reserves, continually reviewing our loan mix, assessing growth trends, and factoring in both regional and national economic conditions to ensure our allowance remains appropriately calibrated,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $14.0 million, or 1.16% of total loans, at June 30, 2025, compared to $13.3 million, or 1.17% of total loans, at March 31, 2025, and $12.4 million, or 1.25% of total loans, at June 30, 2024.

    Net loan recoveries were $11,000 in the second quarter of 2025. This compared to net loan charge-offs of $137,000 in the first quarter of 2025, and net loan charge-offs of $111,000 in the second quarter of 2024.

    Capital

    The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 11.69%, a Tier 1 ratio of 10.44%, and a Leverage ratio of 9.12% for the Bank at June 30, 2025.

    About White River Bancshares Company

    White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.  

    In the second quarter of 2025, the Signature Bank celebrated its 20-year anniversary of service to its Arkansas communities. In tandem with the celebration, the organization updated its mission statement:
    We are committed to being a trusted local bank for business owners, individuals, and families who seek personalized service from people they know. Our mission is to empower our customers to strengthen their connections through every interaction, ensuring that their dollars are reinvested locally to support the growth and prosperity of the community we share. We have a passion for preserving the traditions of community banking as we embrace the power of technology.

    About the Region

    White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

    The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

    The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

    The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $429,000 in May 2025, with an average of 97 days on the market. For Benton County, the average house sold for $461,000, with an average of 92 days on the market.

    Source:
    http://www.nwarealtors.org/market-statistics/

    Forward Looking Statements

    This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    Contact: Scott Sandlin, Chief Strategy Officer
      479-684-3754
       
    WHITE RIVER BANCSHARES COMPANY
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
                   
        For the Three Months Ended  
        June 30,   March 31,   June 30,  
          2025     2025     2024  
                   
    INTEREST INCOME              
    Loans, including fees   $ 19,611,698   $ 18,315,006   $ 15,763,452  
    Investment securities     1,431,773     1,258,571     1,083,415  
    Federal funds sold and other     175,917     232,978     162,250  
    Total interest income     21,219,388     19,806,555     17,009,117  
                   
    INTEREST EXPENSE              
    Deposits     8,538,199     8,312,455     7,106,512  
    Federal Home Loan Bank advances     296,860     393,057     448,263  
    Notes payable     477,735     475,425     398,017  
    Federal funds purchased and other     7,113     13,022     21,787  
    Total interest expense     9,319,907     9,193,959     7,974,579  
    NET INTEREST INCOME     11,899,481     10,612,596     9,034,538  
    Provision for credit losses     800,000     670,000     432,000  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     11,099,481     9,942,596     8,602,538  
                   
    NON-INTEREST INCOME              
    Service charges and fees on deposits     162,185     171,186     154,816  
    Wealth management fee income     994,100     1,017,829     1,065,553  
    Secondary market fee income     223,956     128,824     113,926  
    Bank owned-life insurance income     82,190     80,603     80,478  
    Gain on sales and write-downs of foreclosed assets     15,475     –     326  
    Other     616,667     544,141     527,064  
    TOTAL NON-INTEREST INCOME     2,094,573     1,942,583     1,942,163  
                   
    NON-INTEREST EXPENSE              
    Salaries and benefits     5,185,716     4,931,692     4,784,556  
    Occupancy and equipment     1,189,886     1,145,101     936,818  
    Data processing     857,198     858,115     704,080  
    Marketing and business development     609,549     397,137     473,618  
    Professional services     699,968     650,708     617,890  
    Amortization of other intangible assets     53,037     53,036     53,037  
    Other     326,224     393,498     494,203  
    TOTAL NON-INTEREST EXPENSE     8,921,578     8,429,287     8,064,202  
                   
    Income before income taxes     4,272,476     3,455,892     2,480,499  
    Income tax provision     974,775     826,085     631,462  
    NET INCOME   $ 3,297,701   $ 2,629,807   $ 1,849,037  
                   
    EARNINGS PER SHARE              
    Basic (1)   $ 1.35   $ 1.07   $ 0.81  
    Diluted (1)   $ 1.34   $ 1.07   $ 0.81  
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
           
    WHITE RIVER BANCSHARES COMPANY  
    CONSOLIDATED STATEMENTS OF INCOME  
    (Unaudited)  
                 
          Six Months Ended  
          June 30,  
          2025   2024  
                 
    INTEREST INCOME            
    Loans, including fees     $ 37,926,704   $ 30,758,374  
    Investment securities       2,690,344     2,012,455  
    Federal funds sold and other       408,895     258,404  
    Total Interest Income       41,025,943     33,029,233  
                 
    INTEREST EXPENSE            
    Deposits       16,850,654     14,091,305  
    Federal Home Loan Bank advances       689,917     968,582  
    Notes payable       953,160     796,034  
    Federal funds purchased and other       20,135     100,047  
    Total interest expense       18,513,866     15,955,968  
    NET INTEREST INCOME       22,512,077     17,073,265  
    Provision for credit losses       1,470,000     1,080,000  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES       21,042,077     15,993,265  
                 
    NON-INTEREST INCOME            
    Service charges and fees on deposits       333,371     305,165  
    Wealth management fee income       2,011,929     1,911,059  
    Secondary market fee income       352,780     170,990  
    Bank owned life insurance income       162,793     160,359  
    Gain on sales and write-downs of foreclosed assets       15,475     1,376  
    Other       1,160,808     976,319  
    TOTAL NON-INTEREST INCOME       4,037,156     3,525,268  
                 
    NON-INTEREST EXPENSE            
    Salaries and benefits       10,117,408     9,784,089  
    Occupancy and equipment       2,334,987     1,864,942  
    Data processing       1,715,313     1,494,649  
    Marketing and business development       1,006,686     937,315  
    Professional services       1,350,676     1,287,757  
    Amortization of intangible asset       106,073     106,073  
    Other       719,722     898,039  
    TOTAL NON-INTEREST EXPENSE       17,350,865     16,372,864  
                 
    Income before income taxes       7,728,368     3,145,669  
    Income tax provision       1,800,860     787,404  
    NET INCOME     $ 5,927,508   $ 2,358,265  
                 
    EARNINGS PER SHARE            
    Basic (1)     $ 2.42   $ 1.11  
    Diluted (1)     $ 2.42   $ 1.11  
                 
      (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                 
    WHITE RIVER BANCSHARES COMPANY  
    CONSOLIDATED BALANCE SHEETS  
    (Unaudited)  
                   
        June 30, 2025   March 31, 2025   June 30, 2024  
                   
    ASSETS                      
    Cash and cash equivalents   $ 25,604,276     $ 48,360,156     $ 49,495,763    
    Investment securities     140,544,711       134,968,153       115,526,915    
    Loans held for sale     2,442,642       874,009       997,907    
    Loans     1,208,102,220       1,141,369,199       994,754,063    
    Allowance for credit losses     (14,033,740 )     (13,347,855 )     (12,434,130 )  
    Net loans     1,194,068,480       1,128,021,344       982,319,933    
    Premises and equipment, net     37,411,490       35,647,835       30,442,837    
    Foreclosed assets held for sale     –       310,406       777,606    
    Accrued interest receivable     7,024,823       6,629,881       5,433,391    
    Bank owned life insurance     9,942,100       9,859,911       9,614,851    
    Deferred income taxes     4,522,795       4,220,559       4,788,942    
    Other investments     7,925,019       6,782,614       8,094,125    
    Intangible assets, net     1,697,167       1,750,204       1,909,313    
    Other assets     2,783,012       1,825,830       1,733,790    
    TOTAL ASSETS   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
                   
    LIABILITIES & STOCKHOLDERS’ EQUITY                      
    Deposits:              
    Demand and non-interest-bearing   $ 233,078,431     $ 231,331,391     $ 233,230,007    
    Savings and interest-bearing transaction accounts     479,532,136       456,733,576       348,391,562    
    Time deposits     536,591,123       512,882,444       432,248,979    
    Total deposits     1,249,201,690       1,200,947,411       1,013,870,548    
    Federal Home Loan Bank advances     21,518,084       21,593,143       54,314,495    
    Notes payable     26,159,110       26,141,832       26,090,002    
    Operating lease liability     21,918,414       20,029,714       15,930,503    
    Reserve for losses on unfunded commitments     1,603,000       1,478,000       1,433,000    
    Accrued interest payable     2,636,403       2,731,699       2,714,687    
    Other liabilities     8,433,777       5,798,159       4,745,292    
    TOTAL LIABILITIES     1,331,470,478       1,278,719,958       1,119,098,527    
                   
    Stockholders’ equity:              
    Common stock (1)     24,876       24,882       24,698    
    Surplus (1)     102,893,483       102,784,831       102,457,705    
    Retained earnings (accumulated deficit)     6,787,654       4,714,375       (2,484,500 )  
    Treasury stock, at cost     (1,284,359 )     (1,265,731 )     (1,132,905 )  
    Accumulated other comprehensive loss     (5,925,617 )     (5,727,413 )     (6,828,152 )  
    TOTAL STOCKHOLDERS’ EQUITY     102,496,037       100,530,944       92,036,846    
                   
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                   
    WHITE RIVER BANCSHARES COMPANY
    SUPPLEMENTAL INFORMATION
                   
        (Unaudited)  
        Three Months Ended  
        June 30,   March 31,   June 30,  
                   
    FOR THE PERIOD              
    Net income   $ 3,297,701     $ 2,629,807     $ 1,849,037    
    Net income before taxes     4,272,476       3,455,892       2,480,499    
    Dividends declared per share (1)     0.50       –       0.50    
                   
                   
    PERIOD END BALANCE              
    Total assets   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
    Total investments     140,544,711       134,968,153       115,526,915    
    Total loans, net     1,194,068,480       1,128,021,344       982,319,933    
    Allowance for credit losses     (14,033,740 )     (13,347,855 )     (12,434,131 )  
    Total deposits     1,249,201,690       1,200,947,411       1,013,870,548    
    Stockholders’ equity     102,496,037       100,530,944       92,036,846    
                   
                   
    RATIO ANALYSIS              
    Return on average assets (annualized)     0.94 %     0.79 %     0.63 %  
    Return on average equity (annualized)     12.62 %     10.64 %     8.26 %  
    Net loans/Deposits     95.59 %     93.93 %     96.89 %  
    Total Stockholders’ Equity/Total assets     7.15 %     7.29 %     7.60 %  
    Net loan losses/Total loans     -0.00 %     0.01 %     0.01 %  
    Uninsured & unpledged deposits     32.37 %     31.00 %     31.21 %  
                   
                   
    PER SHARE DATA              
    Shares outstanding (1)     2,448,246       2,449,317       2,435,700    
    Weighted average shares outstanding (1)     2,448,734       2,446,747       2,291,316    
    Diluted weighted average shares outstanding (1)     2,454,485       2,451,161       2,291,316    
    Basic earnings (1)   $ 1.35     $ 1.07     $ 0.81    
    Diluted earnings (1)     1.34       1.07       0.81    
    Book value (1)     41.87       41.04       37.79    
    Tangible book value (1)     41.17       40.33       37.00    
                   
                   
    ASSET QUALITY              
    Net (recoveries) charge-offs   $ (10,889 )   $ 136,970     $ 110,968    
    Classified assets     402,406       853,745       1,090,758    
    Nonperforming loans     364,853       419,985       32,054    
    Nonperforming assets     364,853       730,391       809,660    
    Total nonperforming loans/Total loans     0.03 %     0.04 %     0.00 %  
    Total nonperforming loans/Total assets     0.03 %     0.03 %     0.00 %  
    Total nonperforming assets/Total assets     0.03 %     0.05 %     0.07 %  
    Allowance for credit losses/Total loans     1.16 %     1.17 %     1.25 %  
                   
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                   
    WHITE RIVER BANCSHARES COMPANY  
    INTEREST INCOME AND EXPENSE  
    (Unaudited)  
                                           
        Three Months Ended  
        June 30,   March 31,   June 30,  
          2025       2025       2024    
        Average       Average   Average       Average   Average       Average  
        Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate  
                                           
    Interest-earning assets:                                      
    Federal funds sold and other   $ 15,102,485   $ 175,917   4.67 %   $ 23,287,989   $ 232,978   4.06 %   $ 11,798,448   $ 162,250   5.53 %  
    Investment securities available-for-sale (1)     138,229,178     1,289,470   3.74 %     133,405,472     1,208,821   3.67 %     114,427,481     941,900   3.31 %  
    Loans receivable     1,169,591,045     19,611,698   6.73 %     1,106,648,533     18,315,006   6.71 %     973,396,880     15,763,452   6.51 %  
    Total interest-earning assets     1,322,922,708   $ 21,077,085   6.39 %     1,263,341,994   $ 19,756,805   6.34 %     1,099,622,809   $ 16,867,602   6.17 %  
    Noninterest-earning assets     81,927,528             81,821,189             74,503,352          
    Total assets   $ 1,404,850,236           $ 1,345,163,183           $ 1,174,126,161          
    Interest-bearing liabilities:                                      
    Interest-bearing deposits   $ 985,435,006   $ 8,538,199   3.48 %   $ 937,669,969   $ 8,312,455   3.60 %   $ 770,303,642   $ 7,106,512   3.71 %  
    FHLB advances and federal funds purchased     26,552,308     303,973   4.59 %     36,654,930     406,079   4.49 %     40,440,625     470,050   4.67 %  
    Notes payable     26,150,819     477,735   7.33 %     26,131,761     475,425   7.38 %     25,506,601     398,017   6.28 %  
    Total interest-bearing liabilities     1,038,138,133   $ 9,319,907   3.60 %     1,000,456,660   $ 9,193,959   3.73 %     836,250,868   $ 7,974,579   3.84 %  
    Noninterest-bearing liabilities     261,876,451             244,466,979             247,820,333          
    Total liabilities     1,300,014,584             1,244,923,639             1,084,071,201          
    Stockholders’ equity     104,835,652             100,239,544             90,054,960          
    Total liabilities and stockholders’ equity   $ 1,404,850,236           $ 1,345,163,183           $ 1,174,126,161          
    Net interest-earning assets   $ 284,784,575           $ 262,885,334           $ 263,371,941          
    Net interest spread       $ 11,757,178   2.79 %       $ 10,562,846   2.61 %       $ 8,893,023   2.33 %  
    Net interest margin           3.56 %           3.39 %           3.25 %  
                                           
    (1 ) Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).      
                                           
    WHITE RIVER BANCSHARES COMPANY  
    INTEREST INCOME AND EXPENSE  
    (Unaudited)  
                               
        Six Months Ended June 30,  
          2025       2024    
        Average       Average   Average       Average  
        Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate  
                               
    Interest-earning assets:                          
    Federal funds sold and other   $ 19,172,625   $ 408,895   4.30 %   $ 10,071,062   $ 258,404   5.16 %  
    Investment securities available-for-sale (1)     135,830,651     2,498,291   3.71 %     114,434,010     1,842,786   3.24 %  
    Loans receivable     1,138,293,665     37,926,704   6.72 %     967,102,566     30,758,374   6.40 %  
    Total interest-earning assets     1,293,296,941   $ 40,833,890   6.37 %     1,091,607,638   $ 32,859,564   6.05 %  
    Noninterest-earning assets     81,874,656             72,612,145          
    Total assets   $ 1,375,171,597           $ 1,164,219,783          
    Interest-bearing liabilities:                          
    Interest-bearing deposits   $ 961,684,434   $ 16,850,654   3.53 %   $ 766,601,621   $ 14,091,305   3.70 %  
    FHLB advances and federal funds purchased     31,575,711     710,052   4.53 %     45,594,923     1,068,629   4.71 %  
    Notes payable     26,141,343     953,160   7.35 %     25,500,463     796,034   6.28 %  
    Total interest-bearing liabilities     1,019,401,488   $ 18,513,866   3.66 %     837,697,007   $ 15,955,968   3.83 %  
    Noninterest-bearing liabilities     253,207,317             240,831,655          
    Total liabilities     1,272,608,805             1,078,528,662          
    Stockholders’ equity     102,562,792             85,691,121          
    Total liabilities and stockholders’ equity   $ 1,375,171,597           $ 1,164,219,783          
    Net interest-earning assets   $ 273,895,453           $ 253,910,631          
    Net interest spread       $ 22,320,024   2.70 %       $ 16,903,596   2.22 %  
    Net interest margin           3.48 %           3.11 %  
                               
    (1 )   Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).
                               

    The MIL Network –

    July 16, 2025
  • MIL-OSI: White River Bancshares Co. Reports Net Income of $3.30 million, or $1.34 Per Diluted Share, in 2Q25; Results Driven by Loan Growth and Net Interest Margin Expansion

    Source: GlobeNewswire (MIL-OSI)

    FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to $3.30 million, or $1.34 per diluted share, in the second quarter of 2025, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024. The Company reported net income of $2.63 million, or $1.07 per diluted share, for the prior quarter. In the first six months of 2025, net income increased to $5.93 million, or $2.42 per diluted share, compared to $2.36 million, or $1.11 per diluted share, in the first six months of 2024. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.

    “We had a strong second quarter—the most profitable quarter we’ve ever had,” said Gary Head, Chairman and CEO. “We have been blessed to have incredible loan growth throughout the history of our company, and we build on that momentum quarter after quarter. Our Signature Bank family is the best group of bankers I’ve been associated with in my 43-year banking career. Their teamwork and commitment to excellence consistently go above and beyond expectations.”

    “As a community bank, expanding our deposit base to support new loan growth is critical,” said Scott Sandlin, Chief Strategy Officer. “Our Bank has made deposit gathering a primary focus, and our team has done an outstanding job—deepening relationships with existing clients while also bringing in new customers. As a result, total deposits increased 4.0% during the second quarter of 2025 and 23.2% year-over-year. At quarter end, demand and non-interest bearing accounts represented 18.7% of total deposits, and savings and interest-bearing transaction accounts represented 38.4% of total deposits. We will continue to actively seek more opportunities to grow deposits in the coming quarters to meet the increasing demand for loans.”

    Second Quarter 2025 Financial Highlights:

    • Net income for the second quarter of 2025 increased to $3.30 million, or $1.34 per diluted share, compared to $1.85 million, or $0.81 per diluted share, in the second quarter of 2024.
    • Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024.
    • Net interest margin (“NIM”) increased 31 basis points to 3.56% in the second quarter of 2025, compared to 3.25% in the second quarter of 2024.
    • The Company recorded an $800,000 provision for credit losses in the second quarter of 2025, compared to a $432,000 provision for credit losses in the second quarter of 2024.
    • Net loans increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024.
    • Nonperforming loans represented 0.03% of total loans at June 30, 2025, compared to 0.00% a year ago.
    • Total deposits increased $235.3 million, or 23.2%, year-over-year, to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024.
    • Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 70.10% of total deposits at June 30, 2025.
    • Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 a year ago.

    Income Statement

    In the second quarter of 2025, the Company generated a return on average assets of 0.94% and a return on average equity of 12.62%, compared to 0.79% and 10.64%, respectively, in the first quarter of 2025 and 0.63% and 8.26%, respectively, in the second quarter of 2024.

    “Our second quarter net interest margin expanded by 17 basis points from the previous quarter and 31 basis points year-over-year, driven by loan growth and increased yields on our interest-earning assets,” said Brant Ward, President. NIM was 3.56% in the second quarter of 2025, compared to 3.39% in the first quarter of 2025, and 3.25% in the second quarter of 2024. In the first six months of 2025, NIM expanded 37 basis points to 3.48%, compared to 3.11% in the first six months of 2024.

    Net interest income increased 31.7% to $11.9 million in the second quarter of 2025, compared to $9.0 million in the second quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 24.8% to $21.2 million in the second quarter of 2025, compared to $17.0 million in the second quarter of 2024, primarily attributable to the increase in loans. Total interest expense increased to $9.3 million in the second quarter of 2025, from $8.0 million in the second quarter of 2024, primarily due to an increase in deposit costs. In the first six months of 2025, net interest income increased 31.9% to $22.5 million, compared to $17.1 million in the first six months of 2024.

    Noninterest income increased 7.9% to $2.1 million in the second quarter of 2025, compared to $1.9 million in the second quarter of 2024. The increase was primarily due to an increase in secondary market fee income, which more than offset the decrease in wealth management fee income during the second quarter of 2025. In the first six months of 2025, noninterest income increased 14.5% to $4.0 million, compared to $3.5 million in the first six months of 2024.

    Noninterest expense was $8.9 million in the second quarter of 2025, compared to $8.1 million in the second quarter of 2024, as expenses have normalized following the investment in expanding the Company’s market presence over the past few years. In the first six months of the year, noninterest expense increased 6.0% to $17.4 million, compared to $16.4 million in the first six months of 2024.

    Balance Sheet

    Total assets increased 18.4% to $1.434 billion at June 30, 2025, from $1.211 billion at June 30, 2024, and increased 4.0% compared to $1.379 billion at March 31, 2025. Cash and cash equivalents totaled $25.6 million at June 30, 2025, compared to $49.5 million a year ago. Investment securities totaled $140.5 million at June 30, 2025, an increase from $115.5 million at June 30, 2024.

    Loans, net of allowance for credit losses, increased 21.6% to $1.194 billion at June 30, 2025, compared to $982.3 million at June 30, 2024, and increased 5.9% compared to $1.128 billion at March 31, 2025.

    Total deposits increased 23.2% to $1.249 billion at June 30, 2025, compared to $1.014 billion at June 30, 2024, and increased 4.0% compared to $1.201 billion at March 31, 2025. Demand and non-interest-bearing deposits decreased less than 1% compared to June 30, 2024, while savings and interest-bearing transaction accounts increased 37.6% compared to June 30, 2024.

    FHLB advances were $21.5 million at June 30, 2025, compared to $54.3 million at June 30, 2024, and $21.6 million at March 31, 2025. Total stockholders’ equity increased to $102.5 million at June 30, 2025, compared to $92.0 million at June 30, 2024, and $100.5 million at March 31, 2025. Tangible book value per common share was $41.17 at June 30, 2025, compared to $37.00 at June 30, 2024, and $40.33 at March 31, 2025.

    Credit Quality

    Due to strong quarterly loan growth, the Company recorded an $800,000 provision for credit losses in the second quarter of 2025. This is compared to a $670,000 provision for credit losses in the first quarter of 2025, and a $432,000 provision for credit losses in the second quarter of 2024.

    There were $365,000 in nonperforming loans at June 30, 2025. This compared to $420,000 in nonperforming loans at March 31, 2025, and $32,000 in nonperforming loans at June 30, 2024. Nonperforming loans represented 0.03% of total loans on June 30, 2025, 0.04% of total loans on March 31, 2025, and 0.00% of total loans a year ago.

    “We remain conservative in building our credit loss reserves, continually reviewing our loan mix, assessing growth trends, and factoring in both regional and national economic conditions to ensure our allowance remains appropriately calibrated,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $14.0 million, or 1.16% of total loans, at June 30, 2025, compared to $13.3 million, or 1.17% of total loans, at March 31, 2025, and $12.4 million, or 1.25% of total loans, at June 30, 2024.

    Net loan recoveries were $11,000 in the second quarter of 2025. This compared to net loan charge-offs of $137,000 in the first quarter of 2025, and net loan charge-offs of $111,000 in the second quarter of 2024.

    Capital

    The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 11.69%, a Tier 1 ratio of 10.44%, and a Leverage ratio of 9.12% for the Bank at June 30, 2025.

    About White River Bancshares Company

    White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.  

    In the second quarter of 2025, the Signature Bank celebrated its 20-year anniversary of service to its Arkansas communities. In tandem with the celebration, the organization updated its mission statement:
    We are committed to being a trusted local bank for business owners, individuals, and families who seek personalized service from people they know. Our mission is to empower our customers to strengthen their connections through every interaction, ensuring that their dollars are reinvested locally to support the growth and prosperity of the community we share. We have a passion for preserving the traditions of community banking as we embrace the power of technology.

    About the Region

    White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

    The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

    The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

    The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $429,000 in May 2025, with an average of 97 days on the market. For Benton County, the average house sold for $461,000, with an average of 92 days on the market.

    Source:
    http://www.nwarealtors.org/market-statistics/

    Forward Looking Statements

    This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    Contact: Scott Sandlin, Chief Strategy Officer
      479-684-3754
       
    WHITE RIVER BANCSHARES COMPANY
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
                   
        For the Three Months Ended  
        June 30,   March 31,   June 30,  
          2025     2025     2024  
                   
    INTEREST INCOME              
    Loans, including fees   $ 19,611,698   $ 18,315,006   $ 15,763,452  
    Investment securities     1,431,773     1,258,571     1,083,415  
    Federal funds sold and other     175,917     232,978     162,250  
    Total interest income     21,219,388     19,806,555     17,009,117  
                   
    INTEREST EXPENSE              
    Deposits     8,538,199     8,312,455     7,106,512  
    Federal Home Loan Bank advances     296,860     393,057     448,263  
    Notes payable     477,735     475,425     398,017  
    Federal funds purchased and other     7,113     13,022     21,787  
    Total interest expense     9,319,907     9,193,959     7,974,579  
    NET INTEREST INCOME     11,899,481     10,612,596     9,034,538  
    Provision for credit losses     800,000     670,000     432,000  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     11,099,481     9,942,596     8,602,538  
                   
    NON-INTEREST INCOME              
    Service charges and fees on deposits     162,185     171,186     154,816  
    Wealth management fee income     994,100     1,017,829     1,065,553  
    Secondary market fee income     223,956     128,824     113,926  
    Bank owned-life insurance income     82,190     80,603     80,478  
    Gain on sales and write-downs of foreclosed assets     15,475     –     326  
    Other     616,667     544,141     527,064  
    TOTAL NON-INTEREST INCOME     2,094,573     1,942,583     1,942,163  
                   
    NON-INTEREST EXPENSE              
    Salaries and benefits     5,185,716     4,931,692     4,784,556  
    Occupancy and equipment     1,189,886     1,145,101     936,818  
    Data processing     857,198     858,115     704,080  
    Marketing and business development     609,549     397,137     473,618  
    Professional services     699,968     650,708     617,890  
    Amortization of other intangible assets     53,037     53,036     53,037  
    Other     326,224     393,498     494,203  
    TOTAL NON-INTEREST EXPENSE     8,921,578     8,429,287     8,064,202  
                   
    Income before income taxes     4,272,476     3,455,892     2,480,499  
    Income tax provision     974,775     826,085     631,462  
    NET INCOME   $ 3,297,701   $ 2,629,807   $ 1,849,037  
                   
    EARNINGS PER SHARE              
    Basic (1)   $ 1.35   $ 1.07   $ 0.81  
    Diluted (1)   $ 1.34   $ 1.07   $ 0.81  
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
           
    WHITE RIVER BANCSHARES COMPANY  
    CONSOLIDATED STATEMENTS OF INCOME  
    (Unaudited)  
                 
          Six Months Ended  
          June 30,  
          2025   2024  
                 
    INTEREST INCOME            
    Loans, including fees     $ 37,926,704   $ 30,758,374  
    Investment securities       2,690,344     2,012,455  
    Federal funds sold and other       408,895     258,404  
    Total Interest Income       41,025,943     33,029,233  
                 
    INTEREST EXPENSE            
    Deposits       16,850,654     14,091,305  
    Federal Home Loan Bank advances       689,917     968,582  
    Notes payable       953,160     796,034  
    Federal funds purchased and other       20,135     100,047  
    Total interest expense       18,513,866     15,955,968  
    NET INTEREST INCOME       22,512,077     17,073,265  
    Provision for credit losses       1,470,000     1,080,000  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES       21,042,077     15,993,265  
                 
    NON-INTEREST INCOME            
    Service charges and fees on deposits       333,371     305,165  
    Wealth management fee income       2,011,929     1,911,059  
    Secondary market fee income       352,780     170,990  
    Bank owned life insurance income       162,793     160,359  
    Gain on sales and write-downs of foreclosed assets       15,475     1,376  
    Other       1,160,808     976,319  
    TOTAL NON-INTEREST INCOME       4,037,156     3,525,268  
                 
    NON-INTEREST EXPENSE            
    Salaries and benefits       10,117,408     9,784,089  
    Occupancy and equipment       2,334,987     1,864,942  
    Data processing       1,715,313     1,494,649  
    Marketing and business development       1,006,686     937,315  
    Professional services       1,350,676     1,287,757  
    Amortization of intangible asset       106,073     106,073  
    Other       719,722     898,039  
    TOTAL NON-INTEREST EXPENSE       17,350,865     16,372,864  
                 
    Income before income taxes       7,728,368     3,145,669  
    Income tax provision       1,800,860     787,404  
    NET INCOME     $ 5,927,508   $ 2,358,265  
                 
    EARNINGS PER SHARE            
    Basic (1)     $ 2.42   $ 1.11  
    Diluted (1)     $ 2.42   $ 1.11  
                 
      (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                 
    WHITE RIVER BANCSHARES COMPANY  
    CONSOLIDATED BALANCE SHEETS  
    (Unaudited)  
                   
        June 30, 2025   March 31, 2025   June 30, 2024  
                   
    ASSETS                      
    Cash and cash equivalents   $ 25,604,276     $ 48,360,156     $ 49,495,763    
    Investment securities     140,544,711       134,968,153       115,526,915    
    Loans held for sale     2,442,642       874,009       997,907    
    Loans     1,208,102,220       1,141,369,199       994,754,063    
    Allowance for credit losses     (14,033,740 )     (13,347,855 )     (12,434,130 )  
    Net loans     1,194,068,480       1,128,021,344       982,319,933    
    Premises and equipment, net     37,411,490       35,647,835       30,442,837    
    Foreclosed assets held for sale     –       310,406       777,606    
    Accrued interest receivable     7,024,823       6,629,881       5,433,391    
    Bank owned life insurance     9,942,100       9,859,911       9,614,851    
    Deferred income taxes     4,522,795       4,220,559       4,788,942    
    Other investments     7,925,019       6,782,614       8,094,125    
    Intangible assets, net     1,697,167       1,750,204       1,909,313    
    Other assets     2,783,012       1,825,830       1,733,790    
    TOTAL ASSETS   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
                   
    LIABILITIES & STOCKHOLDERS’ EQUITY                      
    Deposits:              
    Demand and non-interest-bearing   $ 233,078,431     $ 231,331,391     $ 233,230,007    
    Savings and interest-bearing transaction accounts     479,532,136       456,733,576       348,391,562    
    Time deposits     536,591,123       512,882,444       432,248,979    
    Total deposits     1,249,201,690       1,200,947,411       1,013,870,548    
    Federal Home Loan Bank advances     21,518,084       21,593,143       54,314,495    
    Notes payable     26,159,110       26,141,832       26,090,002    
    Operating lease liability     21,918,414       20,029,714       15,930,503    
    Reserve for losses on unfunded commitments     1,603,000       1,478,000       1,433,000    
    Accrued interest payable     2,636,403       2,731,699       2,714,687    
    Other liabilities     8,433,777       5,798,159       4,745,292    
    TOTAL LIABILITIES     1,331,470,478       1,278,719,958       1,119,098,527    
                   
    Stockholders’ equity:              
    Common stock (1)     24,876       24,882       24,698    
    Surplus (1)     102,893,483       102,784,831       102,457,705    
    Retained earnings (accumulated deficit)     6,787,654       4,714,375       (2,484,500 )  
    Treasury stock, at cost     (1,284,359 )     (1,265,731 )     (1,132,905 )  
    Accumulated other comprehensive loss     (5,925,617 )     (5,727,413 )     (6,828,152 )  
    TOTAL STOCKHOLDERS’ EQUITY     102,496,037       100,530,944       92,036,846    
                   
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                   
    WHITE RIVER BANCSHARES COMPANY
    SUPPLEMENTAL INFORMATION
                   
        (Unaudited)  
        Three Months Ended  
        June 30,   March 31,   June 30,  
                   
    FOR THE PERIOD              
    Net income   $ 3,297,701     $ 2,629,807     $ 1,849,037    
    Net income before taxes     4,272,476       3,455,892       2,480,499    
    Dividends declared per share (1)     0.50       –       0.50    
                   
                   
    PERIOD END BALANCE              
    Total assets   $ 1,433,966,515     $ 1,379,250,902     $ 1,211,135,373    
    Total investments     140,544,711       134,968,153       115,526,915    
    Total loans, net     1,194,068,480       1,128,021,344       982,319,933    
    Allowance for credit losses     (14,033,740 )     (13,347,855 )     (12,434,131 )  
    Total deposits     1,249,201,690       1,200,947,411       1,013,870,548    
    Stockholders’ equity     102,496,037       100,530,944       92,036,846    
                   
                   
    RATIO ANALYSIS              
    Return on average assets (annualized)     0.94 %     0.79 %     0.63 %  
    Return on average equity (annualized)     12.62 %     10.64 %     8.26 %  
    Net loans/Deposits     95.59 %     93.93 %     96.89 %  
    Total Stockholders’ Equity/Total assets     7.15 %     7.29 %     7.60 %  
    Net loan losses/Total loans     -0.00 %     0.01 %     0.01 %  
    Uninsured & unpledged deposits     32.37 %     31.00 %     31.21 %  
                   
                   
    PER SHARE DATA              
    Shares outstanding (1)     2,448,246       2,449,317       2,435,700    
    Weighted average shares outstanding (1)     2,448,734       2,446,747       2,291,316    
    Diluted weighted average shares outstanding (1)     2,454,485       2,451,161       2,291,316    
    Basic earnings (1)   $ 1.35     $ 1.07     $ 0.81    
    Diluted earnings (1)     1.34       1.07       0.81    
    Book value (1)     41.87       41.04       37.79    
    Tangible book value (1)     41.17       40.33       37.00    
                   
                   
    ASSET QUALITY              
    Net (recoveries) charge-offs   $ (10,889 )   $ 136,970     $ 110,968    
    Classified assets     402,406       853,745       1,090,758    
    Nonperforming loans     364,853       419,985       32,054    
    Nonperforming assets     364,853       730,391       809,660    
    Total nonperforming loans/Total loans     0.03 %     0.04 %     0.00 %  
    Total nonperforming loans/Total assets     0.03 %     0.03 %     0.00 %  
    Total nonperforming assets/Total assets     0.03 %     0.05 %     0.07 %  
    Allowance for credit losses/Total loans     1.16 %     1.17 %     1.25 %  
                   
                   
    (1 ) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024.  
                   
    WHITE RIVER BANCSHARES COMPANY  
    INTEREST INCOME AND EXPENSE  
    (Unaudited)  
                                           
        Three Months Ended  
        June 30,   March 31,   June 30,  
          2025       2025       2024    
        Average       Average   Average       Average   Average       Average  
        Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate  
                                           
    Interest-earning assets:                                      
    Federal funds sold and other   $ 15,102,485   $ 175,917   4.67 %   $ 23,287,989   $ 232,978   4.06 %   $ 11,798,448   $ 162,250   5.53 %  
    Investment securities available-for-sale (1)     138,229,178     1,289,470   3.74 %     133,405,472     1,208,821   3.67 %     114,427,481     941,900   3.31 %  
    Loans receivable     1,169,591,045     19,611,698   6.73 %     1,106,648,533     18,315,006   6.71 %     973,396,880     15,763,452   6.51 %  
    Total interest-earning assets     1,322,922,708   $ 21,077,085   6.39 %     1,263,341,994   $ 19,756,805   6.34 %     1,099,622,809   $ 16,867,602   6.17 %  
    Noninterest-earning assets     81,927,528             81,821,189             74,503,352          
    Total assets   $ 1,404,850,236           $ 1,345,163,183           $ 1,174,126,161          
    Interest-bearing liabilities:                                      
    Interest-bearing deposits   $ 985,435,006   $ 8,538,199   3.48 %   $ 937,669,969   $ 8,312,455   3.60 %   $ 770,303,642   $ 7,106,512   3.71 %  
    FHLB advances and federal funds purchased     26,552,308     303,973   4.59 %     36,654,930     406,079   4.49 %     40,440,625     470,050   4.67 %  
    Notes payable     26,150,819     477,735   7.33 %     26,131,761     475,425   7.38 %     25,506,601     398,017   6.28 %  
    Total interest-bearing liabilities     1,038,138,133   $ 9,319,907   3.60 %     1,000,456,660   $ 9,193,959   3.73 %     836,250,868   $ 7,974,579   3.84 %  
    Noninterest-bearing liabilities     261,876,451             244,466,979             247,820,333          
    Total liabilities     1,300,014,584             1,244,923,639             1,084,071,201          
    Stockholders’ equity     104,835,652             100,239,544             90,054,960          
    Total liabilities and stockholders’ equity   $ 1,404,850,236           $ 1,345,163,183           $ 1,174,126,161          
    Net interest-earning assets   $ 284,784,575           $ 262,885,334           $ 263,371,941          
    Net interest spread       $ 11,757,178   2.79 %       $ 10,562,846   2.61 %       $ 8,893,023   2.33 %  
    Net interest margin           3.56 %           3.39 %           3.25 %  
                                           
    (1 ) Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).      
                                           
    WHITE RIVER BANCSHARES COMPANY  
    INTEREST INCOME AND EXPENSE  
    (Unaudited)  
                               
        Six Months Ended June 30,  
          2025       2024    
        Average       Average   Average       Average  
        Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate  
                               
    Interest-earning assets:                          
    Federal funds sold and other   $ 19,172,625   $ 408,895   4.30 %   $ 10,071,062   $ 258,404   5.16 %  
    Investment securities available-for-sale (1)     135,830,651     2,498,291   3.71 %     114,434,010     1,842,786   3.24 %  
    Loans receivable     1,138,293,665     37,926,704   6.72 %     967,102,566     30,758,374   6.40 %  
    Total interest-earning assets     1,293,296,941   $ 40,833,890   6.37 %     1,091,607,638   $ 32,859,564   6.05 %  
    Noninterest-earning assets     81,874,656             72,612,145          
    Total assets   $ 1,375,171,597           $ 1,164,219,783          
    Interest-bearing liabilities:                          
    Interest-bearing deposits   $ 961,684,434   $ 16,850,654   3.53 %   $ 766,601,621   $ 14,091,305   3.70 %  
    FHLB advances and federal funds purchased     31,575,711     710,052   4.53 %     45,594,923     1,068,629   4.71 %  
    Notes payable     26,141,343     953,160   7.35 %     25,500,463     796,034   6.28 %  
    Total interest-bearing liabilities     1,019,401,488   $ 18,513,866   3.66 %     837,697,007   $ 15,955,968   3.83 %  
    Noninterest-bearing liabilities     253,207,317             240,831,655          
    Total liabilities     1,272,608,805             1,078,528,662          
    Stockholders’ equity     102,562,792             85,691,121          
    Total liabilities and stockholders’ equity   $ 1,375,171,597           $ 1,164,219,783          
    Net interest-earning assets   $ 273,895,453           $ 253,910,631          
    Net interest spread       $ 22,320,024   2.70 %       $ 16,903,596   2.22 %  
    Net interest margin           3.48 %           3.11 %  
                               
    (1 )   Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).
                               

    The MIL Network –

    July 16, 2025
  • MIL-OSI: Plastno Expands Eco-Friendly Cleaning Product Line and Launches AI-Powered Cleaning Assistant App

    Source: GlobeNewswire (MIL-OSI)

    New York, July 15, 2025 (GLOBE NEWSWIRE) — Plastno, a growing leader in sustainable home products, has announced a major expansion of its cleaning product line alongside the debut of Plastnofy, an AI-powered house cleaning app. This dual development reinforces the company’s mission to help households reduce plastic waste by cleaning sustainably, while being safe, effective, and affordable.

    Plastno’s zero waste cleaning kit features compostable bags, cleaning refills, sponge towels, and biodegradable sponges.

    Initially recognized for their compostable and biodegradable garbage bags, Plastno has since expanded its lineup to include sponge towels, biodegradable sponges, reusable spray bottles, and dissolvable cleaning refills. These additions further support a zero-waste cleaning approach for everyday consumers who want to reduce their environmental impact without sacrificing cleanliness or convenience.

    Plastno’s cleaning supplies are available through a convenient cleaning product subscription model. Customers can choose to receive eco-friendly items on a recurring schedule, helping them stay stocked while minimizing excess packaging and unnecessary store trips.

    “With the addition of products like soaked sponge refills and plastic-free packaging, we’re helping customers take a smarter, long-term approach to cleaning,” said Julian Silva, spokesperson for Plastno. “These new items are part of a complete system designed to reduce waste while supporting healthier home environments”.

    In addition to expanding its product range, Plastno has launched Plastnofy, the first AI-powered house cleaning app focused on sustainable practices. Plastnofy uses visual task management and smart reminders to help users plan and carry out household chores more effectively. It can track supply levels and recommend eco-conscious routines.

    “Plastnofy is more than just a digital checklist. It’s a practical guide that helps people clean more efficiently while using fewer resources,” Silva added. “Families and individuals alike can benefit from the structure and support it provides.”

    The app is especially useful for customers looking to streamline their routine while staying committed to environmentally friendly choices. Its recommendations are designed to work hand-in-hand with Plastno’s product ecosystem, from compostable trash bags and biodegradable sponges to cleaning refills and reusable bottles.

    As more consumers seek out zero-waste cleaning products and sustainable home solutions, Plastno aims to meet that demand with innovation, accessibility, and a strong commitment to environmental responsibility. The company continues to build tools that encourage thoughtful, consistent cleaning practices rooted in simplicity and long-term impact.

    For additional details about Plastno’s expanded product line, visit https://plastno.com. To learn more about the Plastnofy cleaning assistant app, visit https://plastnofy.com.

    The MIL Network –

    July 16, 2025
  • MIL-OSI: Plastno Expands Eco-Friendly Cleaning Product Line and Launches AI-Powered Cleaning Assistant App

    Source: GlobeNewswire (MIL-OSI)

    New York, July 15, 2025 (GLOBE NEWSWIRE) — Plastno, a growing leader in sustainable home products, has announced a major expansion of its cleaning product line alongside the debut of Plastnofy, an AI-powered house cleaning app. This dual development reinforces the company’s mission to help households reduce plastic waste by cleaning sustainably, while being safe, effective, and affordable.

    Plastno’s zero waste cleaning kit features compostable bags, cleaning refills, sponge towels, and biodegradable sponges.

    Initially recognized for their compostable and biodegradable garbage bags, Plastno has since expanded its lineup to include sponge towels, biodegradable sponges, reusable spray bottles, and dissolvable cleaning refills. These additions further support a zero-waste cleaning approach for everyday consumers who want to reduce their environmental impact without sacrificing cleanliness or convenience.

    Plastno’s cleaning supplies are available through a convenient cleaning product subscription model. Customers can choose to receive eco-friendly items on a recurring schedule, helping them stay stocked while minimizing excess packaging and unnecessary store trips.

    “With the addition of products like soaked sponge refills and plastic-free packaging, we’re helping customers take a smarter, long-term approach to cleaning,” said Julian Silva, spokesperson for Plastno. “These new items are part of a complete system designed to reduce waste while supporting healthier home environments”.

    In addition to expanding its product range, Plastno has launched Plastnofy, the first AI-powered house cleaning app focused on sustainable practices. Plastnofy uses visual task management and smart reminders to help users plan and carry out household chores more effectively. It can track supply levels and recommend eco-conscious routines.

    “Plastnofy is more than just a digital checklist. It’s a practical guide that helps people clean more efficiently while using fewer resources,” Silva added. “Families and individuals alike can benefit from the structure and support it provides.”

    The app is especially useful for customers looking to streamline their routine while staying committed to environmentally friendly choices. Its recommendations are designed to work hand-in-hand with Plastno’s product ecosystem, from compostable trash bags and biodegradable sponges to cleaning refills and reusable bottles.

    As more consumers seek out zero-waste cleaning products and sustainable home solutions, Plastno aims to meet that demand with innovation, accessibility, and a strong commitment to environmental responsibility. The company continues to build tools that encourage thoughtful, consistent cleaning practices rooted in simplicity and long-term impact.

    For additional details about Plastno’s expanded product line, visit https://plastno.com. To learn more about the Plastnofy cleaning assistant app, visit https://plastnofy.com.

    The MIL Network –

    July 16, 2025
  • MIL-OSI Africa: World Youth Skills Day: For Jenny Ambukiyenyi Onya, Artificial Intelligence (AI) is transforming African women livestock farmers’ herds into a source of finance

    Source: APO

    A dirt road in Kenya. Heavy heat shimmers over the surrounding savannah. A loan officer approaches a herd of cattle and pulls out a smartphone. Standing next to the owner, a woman with a proud yet cautious gaze, he photographs an animal. Hundreds of miles away, an artificial intelligence algorithm transforms that animal into a bankable asset.

    This scene illustrates the quiet revolution led by Jenny Ambukiyenyi Onya. A young Congolese engineer, she is tackling a paradox that traps millions of women living in rural areas in precarious conditions. The challenge is staggering. Sub-Saharan Africa has around 200 million smallholder farmers, a significant proportion of whom raise livestock. Women account for up to 60 percent of these farmers, representing an economic force of 80-120 million rural female livestock keepers.

    Yet, this force remains virtually invisible to the financial system. Studies conducted by the Food and Agriculture Organization of the United Nations (FAO) show that women receive only 10 percent of smallholder-targeted loans and barely 1 percent of all agricultural loans. The result? An estimated between 70-115 million women are effectively excluded from formal financing.

    Their livestock is their savings account. But without a reliable way to document their herds, how can they prove ownership of 10 cows? Traditional methods, such as ear tags, are fragile and easy to falsify, making verification by a banker nearly impossible and turning a woman’s most valuable asset into an invalid guarantee.

    “It was by combining these two realities – a need for reliability in the field and in-house technical expertise – that the idea emerged: why not apply AI to recognizing assets such as livestock?” explains Jenny.

    Her solution, Halisi Livestock, works like facial recognition for animals. “A loan officer can take a photo of a cow’s face using a simple smartphone,” she explains. “Using biometric recognition algorithms, our AI analyses each animal’s unique features and generates a digital identity that cannot be falsified.”

    This innovation is the key to unlocking financing. First, the digital identity provides farmers with a reliable, indisputable way to count and value their herds. Next, the digital inventory serves as irrefutable proof of ownership, transforming a moving asset into a verifiable guarantee. Finally, this collateral, which can be verified remotely, gives financial institutions the confidence to approve loans.

    “For a financial institution, it is no longer a rough estimate, but concrete and reliable data. We are no longer talking about an ‘informal’ profile, but a digital asset that is registered, verified, and integrated into a structured portfolio,” summarizes Jenny. Trust, built on data, finally opens the doors to credit.

    The transition from promising innovation to large-scale solution was achieved thanks to the “Enhancing Women Entrepreneurship for Africa” programme, supported by Affirmative Finance Action for Women in Africa (AFAWA) (https://apo-opa.co/4nKHta9), the African Development Bank’s initiative for financing women in Africa. “Joining the programme marked a turning point in our journey,” Jenny acknowledges. “The support provided allowed us to benefit from strategic guidance to strengthen our vision and above all, to refine our product in order to achieve a better fit between the product and the market.” Thanks to this support, the company she founded, Neotex.ai, has rolled out its services in new rural areas in Kenya, registering more than 1,250 head of livestock and proving the viability of its model.

    Beyond facilitating access to loans, Jenny Ambukiyenyi Onya’s vision is to redefine the role of rural economies in Africa. She believes technology makes the livestock sector “visible, measurable and able to be modelled” for investors and policymakers.

    Her message is twofold. She calls on financial institutions to invest “in high-potential local economies, often led by women.” To young African women dreaming of innovating, she offers her own journey as proof. “Dare to create. Even in sectors where you are not expected to. If I can build disruptive solutions from a cell phone and a herd of cows, you too can reinvent what no one has yet dared to imagine.”

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Editor’s note:
    15 July 2025 marks the 10th anniversary of the United Nations World Youth Skills Day. This year’s theme focuses on empowering young people through artificial intelligence and digital skills.

    About the African Development Bank Group: 
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    Media files

    .

    MIL OSI Africa –

    July 16, 2025
  • MIL-OSI Economics: Great to see how San Francisco is equipping its employees with Microsoft 365 Copilot Chat. Thank you, Daniel Lurie for leading the way!

    Source: Microsoft

    Headline: Great to see how San Francisco is equipping its employees with Microsoft 365 Copilot Chat. Thank you, Daniel Lurie for leading the way!

    Today we officially gave AI technology to 30,000 city employees, giving them tools to better serve the people of San Francisco. San Francisco is the global home of AI, and now, we’re putting that innovation to work for the people of this city. Microsoft 365 Copilot Chat is powered by OpenAI’s GPT-4o gives our city workers a powerful, secure new tool to save time and work more effectively. AI is transforming every aspect of our city and our world—and my administration is building a government that reflects the innovative spirit of our city.

    MIL OSI Economics –

    July 16, 2025
  • MIL-OSI United Kingdom: Mayor encourages greater collaboration between London and Lagos’ multi-billion creative economies as he meets creative leaders in Nigeria

    Source: Mayor of London

    The Mayor of London, Sadiq Khan, is today celebrating the impact of London and Lagos’s multi-billion creative economies and the cultural ties between the two capitals.

    The Mayor is highlighting the huge impact of the creative economies and encouraging even greater collaboration as part of his trade mission to Africa, banging the drum for London as a place to invest and strengthening ties with countries across the continent.

    Today, the Mayor will join with leading figures from the city’s art and entertainment businesses to celebrate creative links and forge new partnerships. The Lagos Canvas event has been organised with media powerhouse Mo Abudu and brings together people from across Nigeria’s film industry Nollywood, Afrobeat music scene, fashion and entertainment.

    Lagos Canvas will include a live music performance by Rising Afro-soul talent Konstance, fashion curated by House of Zeta and featuring designers Hertunba and Wannifuga, art curated by Soto Gallery and featuring visual artist Johnson Uwadinma and multimedia artist Obi Nwaegbe, and films curated by EbonyLife Films, including clips by leading film directors Jade Osiberu and Kayode Kasum.

    Later this year a London edition of Lagos Canvas is also being planned with the support of the Lagos State Government to bring together outstanding talent across music, fashion, film and art to celebrate the spirit of Lagos on an international stage.

    Culture is the beating heart of London, defining how the capital is seen around the world and generating more than £63bn for the economy, having significantly surpassed pre-pandemic levels. It also supports one in five jobs in the capital.

    The African continent has had a significant influence on London’s creative industries, including art, fashion and music. Afrobeat is currently one of London’s most popular music genres, and in 2023 Burna Boy became the first artist from the African continent to headline a stadium show in the UK, returning to play there again last year.

    Lagos’s creative industries are also thriving with the capital rated as Africa’s top city for creative economy performance thanks to its incredible music, film, fashion and design scenes. Nigeria’s film industry is renowned with Nollywood the second largest global film industry in terms of production.

    Across Nigeria the creative industry contributes approximately $5.6 billion to the nation’s GDP, with the creative sector the country’s second-largest employer. Nigeria’s Government aims for the country’s creative economy to generate $100 billion by 2030 and Sadiq wants London to create even closer ties and long-term partnerships to help drive our economies, unite communities and inspire young people.

    London and Lagos have globally influential creative sectors and there has been a growing collaboration and cultural exchange between the capitals. This includes the Guest Artists Space (G.A.S.) Foundation and Yinka Shonibare Foundation which were established by artist Yinka Shonibare to provide artistic residences in Lagos and opportunities for collaboration with those in the UK, the South London Gallery which has hosted exhibitions including one celebrating the links between Lagos and Peckham, and the Tiwani Contemporary which has galleries in both cities. In March London hosted the launch of a new Creative Industries Technical Working Group that aims to deepen creative ties between the UK and Nigeria and boost innovation.

    The Mayor of London, Sadiq Khan, said: “London and Lagos are two of the most culturally dynamic cities in the world, with our music, film, fashion, design and digital creativity leading the way.

    “I’m proud that across both capitals you can feel the influence of our long-standing and deeply-rooted connection, and as both of our creative industries thrive I want to see even closer collaboration.

    “That’s why I’m delighted to join with the very best of Lagos’s art and entertainment business today. By working together to showcase our creativity, develop new partnerships and learn from each other, we can drive our economies forward, unite our communities and inspire young people.”

    Mo Abudu, CEO, EbonyLife Group, said: “We are truly delighted to be co-hosting this special evening alongside the Mayor of London right here at EbonyLife Place in Lagos. It reflects the growing global recognition of the creative industry as a powerful driver of cultural and economic exchange. With Canvas Lagos, we are building bridges between Lagos and London — two vibrant cities bound by innovation, resilience, and an abundance of creative talent.”

    MIL OSI United Kingdom –

    July 16, 2025
  • MIL-OSI: ESET and Amwins Partner to Offer Best-in-Class Cyber Insurance to Companies Across the US

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, July 15, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity, and Amwins, a leading distributor of specialty insurance products, today announced a partnership to bridge the gap between cyber insurance requirements and applicants’ cybersecurity technology and processes. In collaboration with ESET, Amwins clients will receive exclusive discounts on ESET’s top-tier MDR solution to help businesses maintain security and compliance for cyber insurance.

    “As a leading global specialty insurance distributor, we are delighted to partner with ESET,” said David Lewison, Executive Vice President and National Professional Lines Practice Leader, Amwins. “ESET’s consistent global performance, achievements in third-party testing, and recent recognition as the Best Ransomware Remediation Solution by the SC Awards make them a great MDR choice for our clients.”

    “Providing value-added resources from top service providers, like ESET, matter,” said Jason White, Executive Vice President and Professional Lines Broker, Amwins. “Whether our clients are entering the market for the first time or facing a challenging renewal, Amwins is here to help them become a better risk and secure the best coverage and terms possible.”

    Covering a client’s complete resource requirements from cyber insurance approval and renewal to cybersecurity controls, the ESET/Amwins partnership provides an exclusive, discounted offer for fully managed Extended Detection and Response with ESET PROTECT MDR. By combining cyber risk and insurance assessments with competitive products and services across the spectrum, ESET and Amwins solve the longstanding problem of how to bring the right cybersecurity expertise directly into the insurance discussion.

    “We are proud to partner with Amwins, a top global cyber insurance distributor, to provide exceptional solutions that help companies stay ahead of cyber threats and zero-day attacks, while helping to ensure they are not denied insurance coverage,” said Ryan Grant, Country Manager, US & Canada, for ESET North America. “Businesses choosing ESET benefit from 30 years of leading malware identification and incident response expertise, developed from protecting millions of customers and thousands of companies globally. This collaboration marks a significant step forward for ESET in the cyber insurance industry, delivering unmatched value and guidance for our mutual clients.”

    ESET offers award-winning multi-layered solutions to help businesses of all sizes prevent, detect, and respond to cyber threats. With 24/7 threat management service for any organization, and using AI and human expertise for premium ransomware protection without in-house security specialists, ESET MDR is a fully managed, standalone cybersecurity solution, providing continuous threat monitoring and automated response. Actively detecting, investigating, and neutralizing cyber threats before they escalate, ESET MDR delivers comprehensive security across endpoints, cloud applications, email, mobile devices, and networks achieving industry-leading protection without the need for in-house security specialists and eliminate data-organization bottlenecks that can hinder effective detection and response.

    To learn more about the ESET and Amwins partnership visit https://www.eset.com/us/insurance/amwins/. 

    About Amwins
    Amwins is the largest independent wholesale distributor of specialty insurance products in the U.S., dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefits, and administrative services. Based in Charlotte, N.C., the company operates through more than 138 offices globally and handles premium placements in excess of $44.5 billion annually.

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

    The MIL Network –

    July 16, 2025
  • MIL-OSI United Kingdom: Mayor heads historic trade mission to Africa to drive trade, investment and cultural links

    Source: Mayor of London

    • Sadiq is first Mayor of London to lead trade mission to Africa
    • Mayor will visit Nigeria, Ghana and South Africa to boost trade and growth and further develop cultural links
    • Mayor to visit four cities in five days – Lagos, Accra, Johannesburg and Cape Town  
    • Trade between UK and Africa worth £50bn
    • The Mayor says that over the next decade there are ‘huge opportunities’ to deepen partnerships between London and African nations.

    Sadiq Khan will this week become the first Mayor of London to lead a trade mission to Africa, banging the drum for the capital as a place to invest and strengthening ties with countries across the continent.

    Sadiq will visit Lagos in Nigeria, Accra in Ghana, and Johannesburg and Cape Town in South Africa – four cities in five days – to boost trade links with London and build on extensive connections between the region and the capital’s growing African diaspora.

    Alongside the visit, the Mayor’s growth agency London & Partners will host a trade delegation of 27 London-based companies that are looking to grow their business and access opportunities in this dynamic and important region of the world.  

    The bilateral trade relationship between Africa and London has shown consistent growth over recent years, despite global challenges. More businesses from London expand into Africa than from any other city globally and the UK stands as one of Africa’s significant trading partners. With trade between the UK and Africa worth £50bn in 2024* and UK exports up six per cent year on year, the Mayor is hoping that his visit will contribute to future economic growth both in London and the cities he visits.

    The visit also helps to celebrate London’s cultural links and history with the African continent. Londoners of African heritage have played, and continue to play, a huge part of life in the capital, from food and music, to art and culture and sport. Nigeria is the eighth most common country of birth for Londoners, with the country among the top 10 fastest growing populations in London, and Ghana in the top 30 fastest growing between 2001 and 2021. Last month London hosted the football Unity Cup, which saw Ghana and Nigeria go head-to-head in a semi-final at Brentford’s stadium. 

    New analysis from Dealroom has ranked Lagos as the world’s top emerging tech hub.** In Lagos, the Mayor will attend a flagship tech event hosted by London and Partners, the growth agency for London, where he will encourage Nigerian tech businesses to invest in London.

     Just last week, Guaranty Trust Holding Company Plc (GTCO) became the first Nigerian banking entity to list all of its shares directly on the London Stock Exchange, highlighting the close economic ties that already exist between London and the African continent.

    Africa’s Creative Vibrancy Index ranks Lagos as the top city for creative economy performance and the Mayor will also host a major culture and creative industries reception to celebrate the status of Lagos and London as cultural and creative industry powerhouses. This will also look to encourage even greater ties between the creative industry ecosystems in both cities – from the arts to music and film.

    Trade between the UK and Ghana stood at around £1.4 billion in 2024. In Accra, the Mayor will deliver a speech on innovation and entrepreneurship to students at the University of Ghana, hosted by Imperial College London. Imperial is the first UK university to have a permanent base solely focused on science and technology in Africa, building on the rapid increase in the number of scientific advancements and breakthroughs by researchers from Imperial working with scientists in Ghana in recent years. He will also launch the British High Commission’s new business campaign that will promote trade between the two cities.

    In Johannesburg, the Mayor will commemorate Mandela Day – an annual international day in honour of Nelson Mandela, celebrated each year on 18 July, Mandela’s birthday. Nelson Mandela made a number of visits to London during his lifetime, including a state visit in 1996 by invitation of Queen Elizabeth II, and speaking in Trafalgar Square in 2005 in support of the Make Poverty History Campaign. His impact on South Africa, the UK and the wider world is celebrated by a statue in Parliament Square, and last year the Mayor provided funding to support the first cultural centre and museum dedicated to the history of the Anti-Apartheid Movement in Britain.

    Finally, the Mayor will visit Cape Town where he will join London businesses from his trade delegation who are seeking new opportunities in Africa. He will attend London & Partners’ London x Cape Town Tech Summit, which will bring together London and South Africa’s dynamic tech sectors, developing opportunities for collaboration between the two cities in driving innovation, attracting investment and scaling transformative technologies. He will also take part in events marking the huge role sport can play in supporting communities, both in London and in Africa.

    The Mayor of London, Sadiq Khan, said: “I am delighted to be visiting Africa this week – the first visit of its kind by a Mayor of London – to bang the drum for the capital and further develop the strong ties between our countries.

    “Africa has the world’s fastest growing populations, and is seeing major economic growth across many of its economies. Over the next decade there are huge opportunities to deepen partnerships with London. I will be working tirelessly throughout this visit to drive trade and investment across critical sectors including finance, education, health, tech creative and sustainability.

    “Londoners of African heritage have played, and continue to play, a huge role in making London the greatest city in the world, and this trip is an opportunity to celebrate our shared heritage, history and culture with the African continent – as we build a better and fairer city for everyone.”  

    Laura Citron, CEO of London & Partners, said: “London is one of the best places in the world to build a business. But it doesn’t thrive in isolation. Its strength comes from global connections. Markets like Nigeria, South Africa and Kenya offer real opportunities for growth. These trade missions focus on building strong partnerships between London and some of the most important emerging business hubs in the region. London is home to important African diaspora communities, which are a great strength in our diverse city.”

    Lord Collins of Highbury, UK Minister for Africa said: “Sir Sadiq’s visit marks an exciting moment for the UK’s relationship with countries across Africa, and is a strong demonstration of our commitment to deepening our ties with the continent. 

     

    “Strengthening our trade, investment, and cultural ties is not only vital for shared economic growth, but also for fostering long-term partnerships that are rooted in respect and open up opportunities for all.”

    Dr Lloyd Anderson, the Acting Regional Director for Sub Saharan at the British Council, said: “On behalf of the British Council in Sub Saharan Africa, I am delighted to welcome Mayor Sadiq Khan on his historic trade mission to this vibrant continent. The visit will not only strengthen the bonds between London and Africa, but showcase the immense potential for trade, investment and cultural programmes.

    “Given Africa’s dynamic economies and diverse cultures, there are precedented opportunities for collaborations that celebrate our shared heritage and drive innovation across sectors such as creative industries and education. I look forward to witnessing the fruitful partnerships that will emerge from this mission, enhancing not only economic ties but also the cultural connections that enrich both London and Africa.”

    Jonny Baxter, British Deputy High Commissioner in Lagos, said: “The Mayor of London’s visit underscores the UK Government’s commitment to strengthening economic and cultural ties with Nigeria. From trade to fintech and fashion, our collaboration is driving innovation and growth.

    “Through the UK-Nigeria Enhanced Trade and Investment Partnership, we’re committed to unlocking new opportunities that benefit both our economies, and this visit is a powerful step forward in that journey of inclusive growth.”

    Antony Phillipson, British High Commissioner to South Africa, said: “The Mayor of London’s visit marks a significant moment in deepening the economic ties between South Africa and London, with a focus on trade, innovation, and cultural links. His engagements in Cape Town show the tangible benefits of collaboration to drive inclusive, sustainable growth for both our economies.”

    Orla Browne, Head of Insights at Dealroom, said: “Lagos is the world’s top emerging tech hub in our 2025 ‘Rising Stars’ ranking — and for good reason. Its tech ecosystem has grown 11-fold in enterprise value since 2017 to $15B, produced five unicorns like Flutterwave and OPay, and attracted significant foreign investment. In the context of a low-income national economy, Lagos shows how tech can be a powerful driver of economic growth.”

    Tom Attenborough, Head of International Primary Markets, London Stock Exchange Group, said; “The London Stock Exchange has been a consistent funding partner – both to Governments and to the wider African economy – with more than 90% of the bonds issued by African Sovereigns currently listed on our markets and more than 100 companies from 20 African countries with a market capitalisation of $110bn listed here. London’s capital markets continue to play actively in directing financing to opportunities that support economic development across Africa.”

    Olu Alake, CEO of The Africa Centre, London UK, said: “The Africa Centre warmly welcomes The Mayor of London’s trade mission to Nigeria, Ghana and South Africa as part of his office’s focus on Africa. For over 60 years, we have had the pleasure of fostering meaningful engagements and innovative partnerships between the United Kingdom and the African continent. Mayor Khan’s visit represents a timely and strategic opportunity to deepen economic, cultural and innovation ties with the continent in a spirit of genuine partnership. We stand ready to support all efforts that will advance inclusive growth and mutual prosperity.”

    London-based businesses in Africa as part of London & Partners trade delegation include fintech company Abound who specialise in AI-powered lending.

    Michelle He, Co-Founder and COO of Abound said: “We’re excited to take part in this historic trade mission to Africa. We’ve already partnered with one African unicorn, LemFi, and are excited to continue to grow our presence in what is becoming such an important fintech hub.”

    MIL OSI United Kingdom –

    July 16, 2025
  • MIL-OSI Africa: Murqub District youth: “Transitional periods must come to an end”

    Source: APO


    .

    Twenty-two young men and women from Murqub District and the surrounding area joined UNSMIL officials in an online consultation Monday to share their thoughts on the Advisory Committee’s proposals to take Libya to elections and unify state institutions.  

    “The transitional phases have resulted in a loss of trust from the public in the institutions,” said one participant. “All options have pros and cons, but the national dialogue must be linked to the electoral track,” they added. 

    Participants were briefed on the four options put forward by the Advisory Committee in May. As outlined in the  Executive Summary of the Advisory Committee’s report,  the options include:    

    1. Holding simultaneous presidential and parliamentary elections, then adopt a constitution;    

    2. Holding parliamentary elections followed by adopting a permanent constitution, followed by presidential elections;    

    3. Adopting a permanent constitution before national elections; or    

    4. Dissolving existing institutions and forming a new dialogue forum that appoints an executive and selects a 60-member constituent assembly to adopt a temporary constitution and electoral laws for national elections.  

    Many of the participants favoured option four; however, others discussed the importance of holding presidential elections and stressed the need for a constitution. Others said Libya already had one dialogue forum and a referendum would be needed to launch a second. 

    “The government must be elected by the people,” said one participant, noting that some of the current leaders have been in power seven years. “Transitional governments must end.” 

    Many participants raised their frustration with those who have acted as spoilers in the past to prevent elections. They highlighted that this would likely happen again and that the UN Security Council needed to be more robust with sanctions to prevent this. 

    “Option four with amendments is the best option,” said another participant, adding that there needed to be strict conditions such as timeframes and limited tasks. 

    A youth council member from Al Khums highlighted the need for transitional justice, reparations and fact finding, saying that very little has been achieved on national reconciliation. Without this, they said, the country would be unable to move forward. 

    “Preventing hate speech and educating the public to build a political culture should be something that UNSMIL focuses on in partnership with the media,” said another participant, with others agreeing that hate speech has a damaging effect on society and political discussion. 

    All participants were encouraged to complete UNSMIL’s poll requesting formal feedback from the public on the political process to ensure that their voices were heard. 

    Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).

    MIL OSI Africa –

    July 16, 2025
  • MIL-OSI Security: A Message From the United States Attorney to the Residents of Ruidoso, New Mexico: Combating Disaster-Related Fraud

    Source: US FBI

    ALBUQUERQUE – The recent flooding in Ruidoso, New Mexico, has brought devastating loss and hardship to our community. Lives have been lost, homes and businesses have been destroyed, and many families are facing an uncertain future. In the midst of this tragedy, we have witnessed countless acts of generosity and resilience as neighbors, volunteers, and organizations step forward to help those in need.

    Unfortunately, history teaches us that disasters like this also attract individuals seeking to exploit the situation for personal gain. Fraudulent activity undermines recovery efforts and diverts critical resources away from genuine victims.

    Past disasters have shown that fraud can take many forms, including:

    • Individuals not affected by the flooding who attempt to claim disaster benefits.
    • The creation of fraudulent charities or the diversion of donations intended for legitimate relief organizations.
    • Fraudulent applications for rebuilding grants and loans, such as those offered by the U.S. Department of Housing and Urban Development and the U.S. Small Business Administration.

    Our office has zero tolerance for those who seek to steal from disaster victims or misuse funds meant for recovery. We have established a Disaster Fraud Working Group, which includes the U.S. Attorney’s Office, FBI, Department of Homeland Security, Secret Service, HUD, SBA, Postal Inspectors, Internal Revenue Service, and U.S. Marshals Service. This group is actively reviewing potential cases and will work closely with the New Mexico Department of Justice, local and tribal law enforcement, and community partners to ensure that fraudsters are brought to justice.

    Anyone considering disaster-related fraud should be aware that federal law—specifically, 18 United States Code, Section 1040—provides for penalties of up to 30 years in federal prison.

    We urge the public to remain vigilant. If you observe suspicious activity or suspect fraud, please report it immediately. The National Disaster Fraud Hotline is available toll-free at (866) 720-5721, or you may email disaster@leo.gov. The hotline operates 24/7.

    Together, we can protect our community and ensure that help reaches those who truly need it.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI United Kingdom: Mayor welcomes biggest ever funding settlement for affordable housebuilding in the capital as huge win for Londoners

    Source: Mayor of London

    The Mayor of London, Sadiq Khan, has today hailed the package of changes announced by the UK Government – including the biggest and longest funding settlement that the capital has ever received for affordable and social housebuilding – as a huge win for all Londoners.

    MIL OSI United Kingdom –

    July 16, 2025
  • MIL-OSI United Kingdom: Mayor of London launches a next-generation city data platform to unlock the power of data for Londoners

    Source: Mayor of London

    • Mayor of London launches new cutting-edge Data for London Library to make it easier to use data to benefit Londoners and London and power smarter AI-enabled public services
    • The Library is a key step in improving data sharing across the city – which is essential to the AI, data and infrastructure London will need to power the next generation of public services – by connecting datasets held by organisations across the capital
    • Launched during London Data Week, a 50+ festival delivered by the Greater London Authority,  London Councils and the Alan Turing Institute, this delivers a manifesto commitment to bring forward new data services that support city priorities and ensure the digital and AI revolution serves Londoners and their needs

    The Mayor of London, Sadiq Khan, has launched the Data for London Library, a cutting-edge new platform that will transform how London collects, shares and uses data to improve public services, unlock growth and create a more inclusive, sustainable city.

    Launched during the biggest ever London Data Week, the Library is part of the Mayor’s ambitious Data for London programme and marks a major milestone in the evolution of London’s data infrastructure. It will replace the London Datastore, which was first launched in 2010 and at the time was one of the world’s earliest and most innovative open data platforms.

    The Library aims to be the definitive catalogue of place data for London – including environment, buildings, and demographics – creating a single, vital resource for researchers and data users seeking rich contextual insight for data services and projects. It takes an innovative approach by connecting, not collecting, datasets held by key London partners starting with Transport for London, the Department of Health and Social Care as well as Barnet, Brent, Camden, and Redbridge councils, and the Office for National Statistics. This collaborative working helps build London’s data infrastructure while acknowledging London’s breadth and large number of organisations that keep the city running.   

    Over its 15-year history, the previous London Datastore, which the Library will replace, pioneered new ways of making public data accessible and useful to communities, policymakers and innovators. The Data for London Library builds on that legacy, offering more than 5,100 datasets, faster search tools, and improved discoverability to make it easier for everyone – from citizens to researchers to startups – to find and use trusted data that benefits Londoners.

    Data from the London Datastore has been used to: 

    • Improve air quality by collating data from air quality sensors across London to help map and predict air pollution episodes. This enables us to issue pollution alerts for Londoners, helping people with health conditions sensitive to pollution live healthier lives as part of the Breath London project.
    • Support Net Zero by providing energy efficiency data for all London homes in a transparent, shareable way through the London Building Stock Model. This helps councils to identify and prioritise homes that need retrofitting and is a key tool to support the delivery of the Mayor’s Warmer Homes London programme with London Councils.
    • Tackle rough sleeping by publishing quarterly and annual CHAIN reports based on data collected by outreach teams and services across London. These reports provide strategic insights into rough sleeping trends, supporting public understanding and helping the Mayor, councils, and charities work toward the goal of ending rough sleeping in London by 2030.

    By making it easier to find and use data held across the city, in one place, the Library becomes core infrastructure for the current AI revolution by addressing a key challenge facing innovators – discovering where datasets are. Better access to datasets enables better insights to enable preventative services, new digital or data tools to support public service productivity and opportunities for innovators across public, private, research and civil society. London’s approach to building the new data platform will be made available for other UK cities and regions to adopt.  

    London is Europe’s largest technology hub – the second largest in the world – and now firmly established as a leading player on the global stage due to the way it uses data to improve services, education, research and innovation to benefit communities across the capital. London is also at the forefront of AI research and top three globally for venture capital investment into this technology. 

    The recently published London Growth Plan identifies huge opportunities to turbocharge the capital’s economy by harnessing the potential of rapidly growing tech sectors such as AI. The Data for London programme will help to support this by improving city data sharing, increasing collaboration, developing public trust, boosting Londoners’ digital skills and leading modern connectivity.   

    Theo Blackwell MBE, Chief Digital Officer for London, said: “London is great at collaboration and the new Data for London Library is rooted in partnership. We’ve been working closely with the data community, the London Office of Technology and Innovation, local authorities in London and other data providers in the city to prioritise the features and improve the user experience.”

    “This is just the beginning, we are only going one way – there is no global trend towards less data. AI systems of the future are heavily dependent on the quality and quantity of the data they are trained on, so our focus now is to build more data sources into the Data for London Library and to make it easier to navigate complex data sharing agreements to benefit the city’s strategic position as the vanguard of the data and AI revolution. This is how we can build a better, fairer, more prosperous London for everyone.”

    Eddie Copeland, Director at the London Office of Technology & Innovation, said: “Successfully tackling many of the biggest issues we face in the capital, from climate change to tackling homelessness, depends on bringing together data from many different sources. The Data for London Library and platform will provide a huge boost for our ability to join up, analyse and act upon data at a truly London scale to benefit Londoners.” 

    Director of the Open Data Institute and Data for London Advisory Board Member Stuart Coleman said: “At the ODI, we advocate for practical, well-governed data infrastructure that makes it easier for people to access, use and share data. The Data for London Library shows how the public sector can take steps to make datasets more discoverable and usable. By opening up access to data from across the capital, it offers a pragmatic model that others can learn from. As the National Data Library develops, examples like this can help demonstrate what works in practice, particularly when it comes to improving interoperability, making data AI-ready, and building on existing foundations rather than starting from scratch.”

    Dr Cosmina Dorobantu, Data for London Advisory Board member and Senior Advisor and Visiting Professor in Practice at the LSE Data Science Institute, said: “As a member of the Mayor’s Data for London Board and someone who is helping to build a world-leading institute for AI and the social sciences here in London, within the London School of Economics and Political Science, I am tremendously excited to see the launch of the Data for London Library. Today’s launch is an important first step towards making the vast amounts of data collected in London more accessible, and towards increasing the data maturity of contributing organisations. The foundations that the team behind the Data for London Library have built are essential for creating the invaluable data resources that businesses, researchers, and policymakers need to build a better, more prosperous, and more equitable city.”

    Muniya Barua, Deputy Chief Executive at BusinessLDN, said: “The launch of the new Data for London Library marks a significant milestone in the capital’s ambitious growth plans. It puts a wealth of up-to-the-minute public and private sector data at the fingertips of businesses and policymakers which can be used to drive innovation and transform the lives of Londoners. Having long championed the transformative potential of data sharing, we now look to the Mayor’s spatial strategy, the London Plan, to ensure it supports the development of critical infrastructure – from data centres to improved broadband connectivity – which will enable the benefits of this new platform to be maximised and London to lead the way in AI and other cutting-edge technologies.”

    MIL OSI United Kingdom –

    July 16, 2025
  • MIL-OSI Security: U.S. Forces Conduct Additional Strike Targeting ISIS-Somalia

    Source: United States AFRICOM

    In coordination with the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted an airstrike against ISIS-Somalia on July 13, 2025.

    The airstrike occurred southeast of Bossaso, Puntland, in Northeastern Somalia.

    AFRICOM, alongside the Federal Government of Somalia and Somali Armed Forces, continues to take action to degrade ISIS-Somalia’s ability to plan and conduct attacks that threaten the U.S. homeland, our forces, and our citizens abroad.

    Specific details about units and assets will not be released to ensure continued operations security.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI Security: U.S. Forces Conduct Additional Strike Targeting ISIS-Somalia

    Source: United States AFRICOM

    In coordination with the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted an airstrike against ISIS-Somalia on July 13, 2025.

    The airstrike occurred southeast of Bossaso, Puntland, in Northeastern Somalia.

    AFRICOM, alongside the Federal Government of Somalia and Somali Armed Forces, continues to take action to degrade ISIS-Somalia’s ability to plan and conduct attacks that threaten the U.S. homeland, our forces, and our citizens abroad.

    Specific details about units and assets will not be released to ensure continued operations security.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI Security: U.S. Forces Conduct Additional Strike Targeting ISIS-Somalia

    Source: United States AFRICOM

    In coordination with the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted an airstrike against ISIS-Somalia on July 13, 2025.

    The airstrike occurred southeast of Bossaso, Puntland, in Northeastern Somalia.

    AFRICOM, alongside the Federal Government of Somalia and Somali Armed Forces, continues to take action to degrade ISIS-Somalia’s ability to plan and conduct attacks that threaten the U.S. homeland, our forces, and our citizens abroad.

    Specific details about units and assets will not be released to ensure continued operations security.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI Security: U.S. Forces Conduct Additional Strike Targeting ISIS-Somalia

    Source: United States AFRICOM

    In coordination with the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted an airstrike against ISIS-Somalia on July 13, 2025.

    The airstrike occurred southeast of Bossaso, Puntland, in Northeastern Somalia.

    AFRICOM, alongside the Federal Government of Somalia and Somali Armed Forces, continues to take action to degrade ISIS-Somalia’s ability to plan and conduct attacks that threaten the U.S. homeland, our forces, and our citizens abroad.

    Specific details about units and assets will not be released to ensure continued operations security.

    MIL Security OSI –

    July 16, 2025
  • MIL-OSI United Nations: Gaza: 875 people confirmed dead trying to source food in recent weeks

    Source: United Nations 4

    “As of 13 July, we have recorded 875 people killed in Gaza while trying to get food; 674 of them were killed in the vicinity of GHF sites,” said Thameen Al-Kheetan, OHCHR spokesperson, referencing the US-Israeli run private organization which has bypassed regular humanitarian operations.

    The remaining 201 victims were killed while seeking food “on the routes of aid convoys or near aid convoys” run by the UN or UN-partners still operating in the war-shattered enclave, Mr. Al-Kheetan told journalists in Geneva.

    Killings linked to the controversial US and Israeli-backed aid hubs began shortly after they started operating in southern Gaza on 27 May, bypassing the UN and other established NGOs.

    The latest deadly incident happened at around 9am on Monday 14 July, when reports indicated that the Israeli military shelled and fired towards Palestinians seeking food at the GHF site in As Shakoush area, northwestern Rafah.

    According to OHCHR, two Palestinians were killed and at least nine others were injured. Some of the casualties were transported to the International Committee of the Red Cross (ICRC) hospital in Rafah. On Saturday medics there received more than 130 patients, the “overwhelming majority” suffering from gunshot wounds and “all responsive individuals” reporting they were attempting to access food distribution sites.

    Deadly hunger

    The UN agency for Palestinian refugees, UNRWA, expressed deep concerns about the continuing killing of civilians trying to access food, while deadly malnutrition spreads among children.

    “Our teams on the ground – UNRWA teams and other United Nations teams – have spoken to survivors of these killings, these starving children included, who were shot at while on their way to pick up very little food,” said Juliette Touma, UNRWA Director of Communications.

    Speaking via video from Amman, Ms. Touma insisted that the near-total Israeli blockade of Gaza has led to babies dying of the effects of severe acute malnutrition.

    “We’ve been banned from bringing in any humanitarian assistance into Gaza for more than four months now,” she said, before pointing to a “significant increase” in child malnutrition since the Israeli blockade began on 2 March.

    Ms. Touma added: “We have 6,000 trucks waiting in places like Egypt, like Jordan; it’s from Jordan to the Gaza Strip it’s a three-hour drive, right?”

    In addition to food supplies, these UN trucks contain other vital if basic supplies including bars of soap. “Medicine and food are going to soon expire if we’re not able to get those supplies to people in Gaza who need it most, among them one million children who are half of the population of the Gaza Strip,” Ms. Touma continued.

    West Bank: ‘Silent war is surging’

    Meanwhile in the occupied West Bank including East Jerusalem, Palestinians continue to be killed in violence allegedly linked to Israeli settlers and security forces, UN agencies said.

    According to OHCHR, two-year-old Laila Khatib was shot in the head by Israeli security forces on 25 January while she was inside her house in Ash-Shuhada village, in Jenin.

    On 3 July, 61-year-old Walid Badir was shot and killed by Israeli security forces, reportedly while he was cycling back home from prayers, passing through the outskirts of the Nur Shams camp, the UN rights office continued, pointing to intensifying “killings, attacks and harassment of Palestinians in past weeks.

    “This includes the demolition of hundreds of homes and forced mass displacement of Palestinians,” OHCHR’s Mr. Al-Kheetan noted, with some 30,000 Palestinians forcibly displaced since the launch of Israel’s operation “Iron Wall” in the north of the occupied West Bank earlier this year.

    “We should recall that international law is very clear about this in terms of the obligations of the occupying power,” he said. “Bringing about a permanent demographic change inside the occupied territory may amount to a war crime and is tantamount to ethnic cleansing.”

    “We continue to have a silent war that is surging, where heavy restrictions on movement continue, where poverty is increasing as people are cut off from their livelihoods and unemployment soars,” said UNRWA’s Ms. Touma.

    With its current focus on the northern occupied West Bank, the Israeli military operation has impacted the refugee camps of Jenin, Tulkarem and Nur Shams.

    “It is causing the largest population displacement of the Palestinians in the West Bank since 1967,” Ms. Touma continued.

    MIL OSI United Nations News –

    July 16, 2025
  • MIL-OSI: Aurigo Software Launches Primus, AI-powered Capital Planning Solution for Private Facility Owners

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, July 15, 2025 (GLOBE NEWSWIRE) — Aurigo Software, the leading provider of capital planning and construction management software for capital owners, has announced the launch of Aurigo Primus, an AI-powered capital planning solution tailored for healthcare, manufacturing, retail, and data center development. Primus is purpose-built to support high-impact, upstream decision-making that drives long-term investment. By connecting planning with construction and leveraging real-time project data, Primus delivers greater visibility and ensures continuous improvement in future planning cycles.

    The global capital expenditure market is projected to grow from $727.81 billion in 2024 to $767.84 billion in 2025, reaching $2.47 trillion by 2033 at a compound annual growth rate of 5.5%. Facility owners are under immense pressure to deploy capital effectively, yet many continue to face challenges due to outdated or siloed data, manual processes, and fragmented workflows. These inefficiencies often result in delayed decisions, missed opportunities, and a lack of clarity across programs.

    “For years, we’ve helped governments plan over $450 billion in infrastructure by helping them identify the right projects, justifying them with data, and getting them approved,” said Balaji Sreenivasan, CEO and founder of Aurigo Software. “With Primus, we’re bringing that same capability to a wider audience, enabling them to score projects, compare scenarios, quantify ROI, build out multi-year cashflows, and get to a yes, more confidently.”

    The Aurigo Primus Plan platform helps facility owners make smarter investments by providing a standardized framework for capturing and evaluating opportunities that align with business goals. It offers comprehensive financial tools to forecast costs, assess risks, and manage budgets effectively. AI-driven scenario planning enables users to prioritize projects, model cash flows, and optimize funding strategies. Real-time alerts and intelligent monitoring keep portfolio plans aligned with actual field data, ensuring decisions stay accurate and up-to-date.

    With Primus, you can:

    • Maximize ROI and cut capital waste by funding the right projects
    • Accelerate planning cycles through automated workflows and AI-guided insights
    • Gain full financial visibility by aligning teams and centralizing data
    • Reduce risk with real-time visibility into portfolio health, cost drivers, and schedule impacts

    “Facility owners are often navigating complex and high-stakes capital decisions while relying on legacy software and outdated processes,” said Pete Olds, Vice President of Professional Services and Customer Success at Aurigo Software. “Primus is built to support the strategic needs of capital planning leaders, giving FP&A professionals, department heads, and operational managers the visibility and control they need to drive better outcomes, faster.”

    Aurigo’s customers include some of the largest infrastructure and facilities owners in North America, spanning federal and state agencies, departments of transportation, and water authorities. Building on this success, the company’s latest platform—Primus—is now available to owners in sectors such as data centers, healthcare, manufacturing, retail, and warehousing. In 2025, Aurigo plans to expand the platform with additional AI-powered products to offer end-to-end solutions that transform how capital programs are planned, built, and delivered.

    About Aurigo Software

    Aurigo builds software that helps build the world. Aurigo provides modern, cloud-based solutions for capital infrastructure and private owners to help them plan with confidence and build with quality. With more than $450 billion of capital programs under management, Aurigo’s solutions are trusted by over 300 customers in transportation, water and utilities, healthcare, higher education, and the government, with over 40,000 projects across North America. Aurigo helps capital program executives make better decisions based on proprietary artificial intelligence and machine learning technology. Aurigo is a privately held U.S. corporation headquartered in Austin, Texas, with global offices in Canada and India. Learn more at www.aurigo.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1687f8dd-2b6f-40d1-a22f-7c5cf3596e0a

    The MIL Network –

    July 16, 2025
  • MIL-OSI: Orion180 Launches FLEX Home Insurance In Massachusetts

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Fla., July 15, 2025 (GLOBE NEWSWIRE) — Orion180 Insurance, a leading provider of flexible, customer-centric homeowners and flood insurance solutions, today announced the launch of its FLEX Home Insurance product in nine eastern counties of Massachusetts. FLEX provides fully customizable coverage, allowing homeowners to adjust protections and deductibles to align with their individual risk preferences and financial goals.

    Massachusetts homeowners, particularly those in coastal counties, have faced mounting insurance challenges in recent years. Bay State premiums surged 15% between 2022 and 2023, and the State currently ranks fifth in the nation for homeowners insurance non-renewals, according to the U.S. Senate Budget Committee. Orion180’s FLEX product directly addresses these concerns through robust, customizable coverage without coastal restrictions, a rare offering in today’s constrained market.

    “Our mission is to bring smarter, more accessible insurance solutions to underserved communities,” said Ken Gregg, CEO of Orion180. “Massachusetts homeowners have faced higher premiums and fewer options due to the increasing threat of weather-related events. FLEX delivers tailored protection, transparent pricing, and peace of mind. Agents and homeowners can feel at ease because we have a 0% state abandonment rate and stand firmly behind the markets we serve.”

    Key Benefits of FLEX Home Insurance:

    • Flexible Coverage Customization: Homeowners can tailor core coverages and perils to align with their specific risk tolerance and financial needs.
    • No Coastal Restrictions: FLEX supports coastal counties with no distance-based pricing exclusions or restrictions.
    • Variable Deductibles and Copays: Policyholders can select from a range of deductible levels and copay percentages to optimize both short-term costs and long-term value.
    • Claims-free Reward: Eligible homeowners may earn a bonus of up to 100% of their first-year premium based on the duration of their claims-free history.
    • Significant Discounts: Eligible homeowners can access significant savings via senior discounts, tree-free yards, military/first responder, and more.

    FLEX Home Insurance is available now through select Massachusetts insurance agents in Essex, Plymouth, Middlesex, Barnstable, Suffolk, Dukes, Norfolk, Nantucket, and Bristol counties.

    To learn more about Orion180 FLEX Home Insurance, visit https://orion180.com/flex/.

    About Orion180 Insurance
    Orion180 Insurance is a technology-driven and customer-centric insurance brand that combines proprietary technology, real-time data, and straightforward underwriting practices to provide a seamless and premier insurance experience. Orion180 operates through Orion180 Insurance Co., a surplus lines insurance company serving Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Texas, Colorado (Flood only), Tennessee (Flood only), Illinois (Flood only) and Arizona, and Orion180 Select Insurance Co., an admitted insurance company offering coverage in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina, and Ohio. With its proprietary MY180 platform and third-party integrations, Orion180 offers unmatched efficiency and innovation, fulfilling its vision of becoming the global leader in insurance solutions while maintaining its mission to deliver superior customer experiences and a comprehensive suite of products. Connect with Orion180 on X, LinkedIn, Facebook, Instagram, TruthSocial, and YouTube. For more information, visit www.Orion180.com.

    Media Contact:
    Ross Blume
    Fusion PR
    Orion180@fusionpr.com

    The MIL Network –

    July 16, 2025
  • MIL-OSI United Kingdom: West and East Midlands move into drought

    Source: United Kingdom – Government Statements

    Press release

    West and East Midlands move into drought

    Following the driest spring in 132 years, Environment Agency steps up operational response.

    EA officers rescuing fish from a dried up River Redlake in Shropshire

    The Environment Agency has declared drought status for the West Midlands and East Midlands following the driest spring in 132 years. 

    The Environment Agency announced the change in status today, 15th July 2025. Following declining river flows and groundwater levels with some river flows in the regions at their lowest for June since 1976. 

    The decision sees the regulator stepping up its operational response in the West Midlands and the East Midlands. While making sure water companies deliver the actions agreed in their drought plans. 

    The announcement comes as the National Drought Group meets to discuss next steps, with people being asked to play their part and use water wisely.

    West Midlands and East Midlands follow other regions that have moved into drought recently, including the north-west of England and Yorkshire. 

    Matt Gable, Regional Incident Lead at the Environment Agency, said: 

    Against a backdrop of a changing climate, this change of status recognises the impact prolonged dry weather is having on water resources and the environment. 

    In the Midlands, we are taking action to reduce that impact and to oversee the actions water companies need to take to secure public water supplies. 

    We are also encouraging people to play their part through the rest of the summer period by noting the small steps we can all take to save water.

    In the Midlands, river levels are already low with some river flows in the region at their lowest for June since 1976. The River Severn catchment received only two-thirds of the rainfall it normally does in June, while the Trent catchment fared worse, with only 37% of its long-term average for June. 

    Teams are out on the ground actively monitoring river levels, with staff working with the water sector to ensure there is enough water for the people and the environment.  Staff are also supporting farmers and abstractors with advice on how to manage abstraction during prolonged dry weather and low flows.  Fisheries teams are responding where necessary to protect fish which are struggling due to reduced oxygen or moving them if the river has dried up.

    The Environment Agency expects and will ensure that water companies follow their drought management plans. Water companies need to step up their work to fix leaks and adjust their operations to conserve water.  

    The public is being asked to think about how they use water at home and in the garden, and to comply with any local restrictions. The less water you use at the home, the more water there is in your local environment.  Recreational water users are being asked to remain vigilant and report any environmental issues they see, such as fish in distress, acting as important eyes and ears on the ground.  

    Read more about how the Environment Agency is responding to dry weather in the Midlands here: Managing the impacts of drought in the Midlands – Creating a better place

    Read more about drought here: Drought explained – Creating a better place.

    Background information

    • A decision to declare drought is taken based on reservoir levels, river flows, groundwater levels, how dry soils are, environmental incidents and water resources position along with consideration of the long-term weather forecasts. These are based on Environment Agency Area classifications. 

    • Temporary Use Bans (TUBs) are a decision for the water companies and must be made in line with their drought plans. Read more here: Why do we have hosepipe bans?

    Map of Environment Agency areas

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

    July 16, 2025
  • MIL-OSI Russia: Shandong Province Launches Integrated Warehouse-Transportation-Trade Service for China-Europe Rail Freight Transportation

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 15 (Xinhua) — Two special trains on the China-Europe international rail freight route arrived one after another at the Multimodal Transport Center of the China-SCO Regional Economic and Trade Cooperation Demonstration Zone (hereinafter referred to as the China-SCO Demonstration Zone), delivering more than 3,100 tons of feed wheat flour from Kazakhstan to Shandong Province, east China. After unloading, the goods were stored in a warehouse in the national logistics hub park for China-Europe trains in Qingdao, east China, marking the official opening of the warehouse-shipment-trade integrated service for goods transported along the aforementioned China-Europe routes.

    According to the Qingdao Daily newspaper, the “warehouse-transportation-trade” format in the context of international China-Europe rail freight transportation implies the close integration of three links – warehousing, transportation and trade – into a single, highly efficient and coordinated trade and logistics ecosystem within the framework of the operation of the aforementioned trains. Such an integrated service allows for the optimization of resource allocation, reduction of intermediate links and significant improvement of overall operational efficiency.

    According to a representative of Shandong Hi-Speed Group, the company has currently developed a comprehensive solution for the entire process in the format of “warehouse-transportation-trade” for a customer of feed wheat flour from Kazakhstan, taking into account customer needs.

    Zang Yuanqi, an official with the China-SCO Demonstration Zone Management Committee, said the zone will give full play to its public good character, accelerate the construction of the Qingdao hub, and develop and strengthen new business models such as the integration of transportation and trade to accurately and efficiently serve the country’s foreign trade enterprises. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

    July 16, 2025
  • MIL-OSI Analysis: How 17M Americans enrolled in Medicaid and ACA plans could lose their health insurance by 2034

    Source: The Conversation – USA (3) – By Simon F. Haeder, Associate Professor of Public Health, Texas A&M University

    The millions of people losing insurance include many who get coverage through the ACA marketplace. sesame/DigitalVision Vectors via Getty Images

    The big tax and spending package President Donald Trump signed into law on July 4, 2025, will cut government spending on health care by more than US$1 trillion over the next decade.

    Because the final version of the legislation moved swiftly through the Senate and the House, estimates regarding the number of people likely to lose their health insurance coverage were incomplete when Congress approved it by razor-thin margins. Nearly 12 million Americans could lose their health insurance coverage by 2034 due to this legislation, according to the nonpartisan Congressional Budget Office.

    However, the number of people losing their insurance by 2034 could be even higher, totaling more than 17 million. That’s largely because it’s likely that at least 5 million Americans who currently have Affordable Care Act marketplace health insurance will lose their coverage once subsidies that help fund those policies expire at the end of 2025. And very few Republicans have said they support renewing the subsidies.

    In addition, regulations the Trump administration introduced earlier in the year will further increase the number of people losing their ACA marketplace coverage.

    As a public health professor, I see these changes, which will be phased in over several years, as the first step in a reversal of the expansion of access to health care that began with the ACA’s passage in 2010. About 25.3 million Americans lacked insurance in 2023, down sharply from 46.5 million when President Barack Obama signed the ACA into law. All told, the changes in the works could eliminate three-quarters of the progress the U.S. has made in reducing the number of uninsured Americans following the Affordable Care Act.

    Millions will lose their Medicaid coverage

    The biggest number of people becoming uninsured will be Americans enrolled in Medicaid, which currently covers more than 78 million people.

    An estimated 5 million will eventually lose Medicaid coverage due to new work requirements that will go into effect nationally by 2027.

    Work requirements target people eligible for Medicaid through the Affordable Care Act’s expansion. They tend to have slightly higher incomes than other people enrolled in the program.

    Medicaid applicants who are between 19 and 64 years old will need to certify they are working at least 80 hours a month or spending that much time engaged in comparable activities, such as community service.

    When these rules have been introduced to other safety net programs, most people lost their benefits due to administrative hassles, not because they weren’t logging enough hours on the job. Experts like me expect to see that occur with Medicaid too.

    Other increases in the paperwork required to enroll in and remain enrolled in Medicaid will render more than 2 million more people uninsured, the CBO estimates.

    And an additional 1.4 million would lose coverage because they may not meet new citizenship or immigration requirements.

    In total, these changes to Medicaid would lead to more than 8 million people becoming uninsured by 2034.

    Many of those who aren’t kicked out of Medicaid would also face new copayments of up to US$35 for appointments and procedures – making them less likely to seek care, even if they still have health insurance.

    The new policies also make it harder for states to pay for Medicaid, which is run by the federal government and the states. They do so by limiting the taxes states charge medical providers, which are used to fund the states’ share of Medicaid funding. With less funding, some states may try to reduce enrollment or cut benefits, such as home-based health care, in the future.

    Losing Medicaid coverage may leave millions of low-income Americans without insurance coverage, with no affordable alternatives for health care. Historically, the people who are most likely to lose their benefits are low-income people of color or immigrants who do not speak English well.

    A supporter of the Affordable Care Act stands in front of the Supreme Court building on Nov. 10, 2020.
    Samuel Corum/Getty Images

    ACA marketplace policies may cost far more

    The new law will also make it harder for the more than 24 million Americans who currently get health insurance through Affordable Care Act marketplace plans to remain insured.

    For one, it will be much harder for Americans to purchase insurance coverage and qualify for subsidies for 2026.

    These changes come on the heels of regulations from the Trump administration that the Congressional Budget Office estimates will lead to almost 1 million people losing their coverage through the ACA marketplace. This includes reducing spending on outreach and enrollment.

    What’s more, increased subsidies in place since 2021 are set to expire at the end of the year. Given Republican opposition, it seems unlikely that those subsidies will be extended.

    Not extending the subsidies alone could mean premiums will increase by more than 75% in 2026. Once premiums get that unaffordable, an additional 4.2 million Americans could lose coverage, the Congressional Budget Office estimates.

    With more political uncertainty and reduced enrollment, more private insurers may also withdraw from the ACA market. Large insurance companies such as Aetna, Cigna and UnitedHealth have already raised concerns about the ACA market’s viability.

    Should they exit, there would be fewer choices and higher premiums for people getting their insurance this way. It could also mean that some counties could have no ACA plans offered at all.

    Ramifications for the uninsured and rural hospitals

    When people lose their health insurance, they inevitably end up in worse health and their medical debts can mount. Because medical treatments usually work better when diagnoses are made early, people who end up uninsured may die sooner than if they’d still had coverage.

    Having to struggle to pay the kinds of high medical bills people without insurance face takes a physical, mental and financial toll, not just on people who become uninsured but also their families and friends. It also harms medical providers that don’t get reimbursed for their care.

    Public health scholars like me have no doubt that many hospitals and other health care providers will have to make tough choices. Some will close. Others will offer fewer services and fire health care workers. Emergency room wait times will increase for everyone, not just people who lose their health insurance due to changes in Trump’s tax and spending package.

    Rural hospitals play a crucial role in health care access.

    Rural hospitals, which were already facing a funding crisis, will experience some of the most acute financial pressure. By one estimate, more than 300 hospitals are at risk of closing.

    Children’s hospitals and hospitals located in low-income urban areas also disproportionately rely on Medicaid and will struggle to keep their doors open.

    Republicans tried to protect rural hospitals by designating $50 billion in the legislative package for them over 10 years. But this funding comes nowhere near the $155 billion in losses KFF expects those health care providers to incur due to Medicaid cuts. Also, the funding comes with a number of restrictions that could further limit its effectiveness.

    What’s next

    Some Republicans, including Sens. Mike Crapo and Ron Johnson, have already indicated that more health care policy changes could be coming in another large legislative package.

    They could include some of the harsher provisions that were left out of the final version of the legislation Congress approved. Republicans may, for example, try to roll back the ACA’s Medicaid expansion.

    Moving forward, spending on Medicare, the insurance program that primarily covers Americans 65 and older, could decline too. Without any further action, the CBO says that the law could trigger an estimated $500 billion in mandatory Medicare cuts from 2026 to 2034 because of the trillions of dollars in new federal debt the law creates.

    Trump has repeatedly promised not to cut Medicare or Medicaid. And yet, it’s possible that the Trump administration will issue executive orders that further reduce what the federal government spends on health care – and roll back the coverage gains the Affordable Care Act brought about.

    Portions of this article first appeared in a related piece published on June 13, 2025.

    Simon F. Haeder has previously received funding from the Centers for Medicare and Medicaid Services, the Pennsylvania Insurance Department, and the Robert Wood Johnson Foundation for unrelated projects.

    – ref. How 17M Americans enrolled in Medicaid and ACA plans could lose their health insurance by 2034 – https://theconversation.com/how-17m-americans-enrolled-in-medicaid-and-aca-plans-could-lose-their-health-insurance-by-2034-260664

    MIL OSI Analysis –

    July 16, 2025
  • MIL-OSI Canada: More support for builders will unlock more new homes in Metro Vancouver

    Source: Government of Canada regional news

    Government has made regulatory changes that protect homebuilders’ projects from increases in Metro Vancouver Regional District development cost charges, freeing up hundreds of millions of dollars in capital to invest in additional new homes.

    Eligible projects now will be protected from increases to development cost charges for 24 months instead of the previous 12. This will help to ensure that homebuilders, future homebuyers, renters and tradespeople in Metro Vancouver will have more certainty that housing projects, which are planned or under construction, will continue to be built.

    “There’s no question that global financial uncertainty and rising costs of goods and skilled labour have challenged the housing market in cities all over the world,” said Ravi Kahlon, Minister of Housing and Municipal Affairs. “In B.C., we’re looking for new ways every day to make sure people can live in homes they can afford. That’s why we’re taking more steps to ensure major housing projects in our biggest region have the financial certainty they need to succeed.”

    The change supports the Metro Vancouver Regional District’s eligibility for $250 million in federal infrastructure funding, while granting eligible homebuilders an extra year to access the lower development cost charge rates. Using federal funding in this way ensures that Metro Vancouver can continue to upgrade critical infrastructure without increasing costs for residents or future homebuyers.

    “Metro Vancouver is committed to supporting the delivery of more affordable and diverse housing options across the region,” said Mike Hurley, chair, board of directors, Metro Vancouver. “Development cost charges are essential for funding the critical housing enabling infrastructure and aligning to the commitment of growth paying for growth — such as water, wastewater treatment, and parks — that keeps our region livable, while balancing affordability. Allowing more time to continue paying 2024 rates offers developers more financial certainty for eligible developments, which can help to advance housing, support local jobs, and stimulate the economy.”

    This builds on recent changes to another provincial regulation to further reduce the cost of delivering new homes for people by allowing B.C. homebuilders to delay paying 75% of development fees as long as four years or until occupancy, whichever comes first. 

    The Province is doing its part to reduce barriers, support housing development and encourage developers to take  advantage of these changes to help ensure the benefits are felt by future homeowners. These measures are part of B.C.’s work to help deliver more homes and address key infrastructure needs during uncertain financial times.

    Quotes:

    Anne McMullin, president and CEO, Urban Development Institute –

    “Extending the instream protection period for Metro Vancouver’s DCC increase is a meaningful step that reflects the realities of today’s development environment. Current high-cost conditions have placed significant pressure on project viability, and without this change, many projects would not have been able to proceed. This change demonstrates a practical understanding of the barriers facing the industry and helps ease some of the immediate pressure on projects, so they can move forward.”

    Duncan Wlodarczak, chief of staff, Onni Group –

    “This protection will help ensure our existing project pipeline can continue with less uncertainty. This means we can keep working to build more housing people need. Minister Kahlon and the Province have demonstrated an openness in these uncertain economic times to have productive conversations on steps they can take to provide relief to homebuilders. We look forward to making projects more viable, activate much needed economic activity, and deliver the necessary housing needed in the region.”

    Rick Ilich, CEO, Townline –

    “Bold moves like today’s announcement bring cost clarity for every project that is in the queue for building permits. Minister Kahlon understands that the cost of delivery of new housing is a major obstacle in cities achieving mandated housing supply. For companies like Townline, this added certainty supports the viability of projects in our pipeline and helps protect thousands of jobs across the region. Coupled with deferring DCC and ACC payments, it delivers timely support for much-needed housing delivery.”

    Colin Bosa, CEO, Bosa Properties –

    “This extension of DCC protection to 24 months is a positive step for housing development in Metro Vancouver, improving our collective ability to move forward and support more housing and construction activity across the region. We look forward to continued collaboration with all levels of government to address broader housing challenges and deliver more homes for British Columbians.”

    Quick Facts:

    • An order-in-council will bring into force provisions of the Miscellaneous Statutes Amendment Act, 2025 (Bill 13), which received royal assent on May 29, 2025.
    • Homebuilders who submitted an application before March 22, 2024, and were issued permits between March 23, 2025, and March 22, 2026, will benefit from having lower development cost charge rates than new projects.
    • As part of the federal government’s funding agreement toward the Iona Island Wastewater Treatment Plant project, the governments of Canada and British Columbia negotiated terms that better support communities throughout the province.
    • This change applies only to Metro Vancouver Regional District, Greater Vancouver Water District, and Greater Vancouver Sewerage and Drainage District development cost charges bylaws currently in effect.

    Learn More:

    Information about the development cost charges can be found here:
    https://www2.gov.bc.ca/gov/content/governments/local-governments/finance/local-government-development-financing/development-cost-charges

    To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for people in British Columbia, visit: 
    https://strongerbc.gov.bc.ca/housing/

    Information about Bill 13 – 2025, Miscellaneous Statutes Amendment Act, 2025 can be found here:
    https://www.leg.bc.ca/parliamentary-business/overview/43rd-parliament/1st-session/bills/1st_read/gov13-1.htm

    MIL OSI Canada News –

    July 16, 2025
←Previous Page
1 … 100 101 102 103 104 … 1,471
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress