Category: Intelligence Agencies

  • MIL-OSI Security: FBI’s 2024 Internet Crime Complaint Center Report Released

    Source: Federal Bureau of Investigation FBI Crime News (b)

    EXINGTON, SC—The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) has released its latest annual report. The 2024 Internet Crime Report combines information from 859,532 complaints of suspected Internet crime and details reported losses exceeding $16 billion—a 33% increase in losses from 2023.

    According to the 2024 report, South Carolina ranked 22 out of all states in the number of complaints received by the public. South Carolinians reported $146 million in losses, a $27 million increase from the prior year. As a group, people 60 and older submitted the greatest number of complaints and suffered the most severe financial losses at $58.5 million.

    The top three cyber crimes in South Carolina, by number of complaints, reported by victims in 2024 were: Extortion (1,384), phishing/spoofing (1,259), and personal data breaches (924).

    The top three cyber crimes in South Carolina reported by financial losses were: Business e-mail compromises ($40.8 million), up from $30.6 million in 2023; investment fraud ($38.4 million), down from $42.5 million the previous year; and confidence/romance scams ($15.1 million), up from $11.3 million in 2023.

    “Cyber crime remains a serious and growing threat to South Carolinians, with victims losing millions of dollars annually,” said Reid Davis, Acting Special Agent in Charge of the FBI Columbia field office. “The FBI is fully committed to identifying and bringing cybercriminals to justice and empowering the public with the critical tools and awareness. One effort is our outreach to South Carolina seniors where we engage with groups about current online threats and provide them with security measures they can take to stay ahead of the evolving cyber landscape.”

    To promote public awareness, the IC3 produces an annual report to aggregate and highlight the data provided by the public. The quality of the data is a direct reflection of the information the public provides through the IC3 website. The IC3 standardizes the data by categorizing each complaint and analyzes the data to identify and forecast trends in Internet crime. The annual report helps the FBI develop effective relationships with industry partners and share information for investigative and intelligence purposes for law enforcement and public awareness.

    The IC3, which was established in May 2000, houses nine million complaints from the public in its database and continues to encourage anyone who thinks they’ve been the victim of a cyber-enabled crime, regardless of dollar loss, to file a complaint through the IC3 website. The more comprehensive complaints the FBI receives, the more effective it will be in helping law enforcement gain a more accurate picture of the extent and nature of Internet-facilitated crimes.

    The FBI recommends that everyone frequently review consumer and industry alerts published by the IC3. If you or your business are a victim of an Internet crime, immediately notify all financial institutions involved in the relevant transactions, submit a complaint to www.ic3.gov, contact your nearest FBI field office, and contact local law enforcement.

    Learn more about the history of IC3 by listening to this previously released podcast: FBI podcast episode “Inside the FBI: IC3 Turns 20.”

    The full 2024 Internet Crime Report can be found here

    MIL Security OSI

  • MIL-OSI Security: Thoreau Woman Pleads Guilty to Involuntary Manslaughter in Fatal Drunk Driving Incident on Navajo Nation

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Thoreau woman has pleaded guilty to involuntary manslaughter after driving while intoxicated and fatally striking John Doe with her vehicle following an altercation.

    According to court records, on the morning of May 28, 2023, Nora Abeita, 50, an enrolled member of the Navajo Nation, and several others, including the victim, John Doe, consumed alcohol together. After an altercation with John Doe, Abeita attempted to leave the residence with a friend. While driving away, Abeita struck John Doe with their vehicle. She did not immediately realize she had run over him until alerted by others. John Doe died from his injuries.

    Abeita’s blood alcohol concentration was measured at .16 approximately five hours after the incident—more than double the legal limit in both New Mexico and the Navajo Nation.

    At sentencing, Abeita faces up to eight years in prison. Upon her release from prison, Abeita will be subject to up to three years of supervised release.

    U.S. Attorney Ryan G. Ellison and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Navajo Nation Department of Public Safety investigated this case with assistance from the Navajo Nation Police Department and the Gallup Resident Agency of the FBI Albuquerque Field Office. Assistant United States Attorney Nicholas J. Marshall is prosecuting the case.

    MIL Security OSI

  • MIL-OSI Security: Zuni Man Sentenced for Armed Standoff and Shootout with Law Enforcement

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Zuni Pueblo man has been sentenced to 12 years in prison following an armed standoff with law enforcement.

    There is no parole in the federal system.

    According to court documents, on July 6, 2024, law enforcement responded to a disturbance at a residence in Zuni, where Eric Bowannie, 28, barricaded himself inside his home and fired multiple rounds at responding Zuni Police Department officers. During the incident, Bowannie charged an officer with an ax, retrieved a shotgun and a rifle, and repeatedly fired at officers positioned outside the residence. FBI agents arrived on scene and also came under fire as they attempted to negotiate a peaceful surrender.

    After a prolonged standoff and multiple exchanges of gunfire, Bowannie attempted to flee the area but was apprehended by local law enforcement without further incident. A subsequent search of the property recovered 57 spent casings and five spent shotgun shells.

    On November 13, 2024, Bowannie pleaded guilty to assault with a dangerous weapon and to using, carrying, and brandishing a firearm during a crime of violence.

    Upon his release from prison, Bowannie will be subject to three years of supervised release.

    U.S. Attorney Ryan Ellison and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Gallup Resident Agency of the FBI Albuquerque Field Office investigated this case with assistance from the Zuni Police Department. U.S. Attorney Ryan Ellison and Assistant United States Attorney Kirk Williams are prosecuting the case. 

    MIL Security OSI

  • MIL-OSI USA: What They’re Saying: Support Grows for Hickenlooper’s Bipartisan Fix Our Forests Act

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper

    Hickenlooper’s Fix Our Forests Act will help reduce wildfire risk for Colorado communities and speed up mitigation projects while maintaining environmental safeguards and encouraging local involvement

    WASHINGTON – U.S. Senators John Hickenlooper, John Curtis, Alex Padilla, and Tim Sheehy announced growing support from state officials, community leaders, and environmental organizations for the bipartisan Fix Our Forests Act. The bill works to strengthen wildfire resilience by improving forest management, supporting fire-safe communities, and streamlining approvals for projects that protect communities and ecosystems from extreme wildfires.

    The comprehensive bill reflects months of bipartisan negotiations to find consensus on how to accelerate forest management projects, promote safe and responsible prescribed fire treatments, expand public input in assessments of wildfire resilience needs, and enhance collaboration between federal agencies, states, tribes, and stakeholders.

    The Fix Our Forests Act is supported by Colorado Governor Jared Polis, Utah Governor Spencer Cox, California Governor Gavin Newsom, Colorado Department of Natural Resources, Colorado State Forest Service, ColoradoDivision of Fire Prevention and Control, The Nature Conservancy, Environmental Defense Fund, National Wildlife Federation, National Audubon Society, Theodore Roosevelt Conservation Partnership, Bipartisan Policy Center Action, International Association of Fire Chiefs, Alliance for Wildfire Resilience, Citizens’ Climate Lobby, Federation of American Scientists, American Property Casualty Insurance Association (APCIA), Association of Firetech Innovation (AFI), Hispanics Enjoying Camping, Hunting, and the Outdoors (HECHO), Wildfire Alliance, Tall Timbers, Rural Voices for Conservation Coalition, The Stewardship Project, Megafire Action, Property and Environment Research Center (PERC), National Association of State Foresters (NASF), Congressional Sportsmen’s Foundation, Arnold Ventures, Berkshire Hathaway Energy, American Forests, National Wild Turkey Federation (NWTF), Utah Department of Natural Resources, California Department of Forestry and Fire Protection (CAL FIRE), Utah Farm Bureau Federation, California Natural Resources Agency, and Climate & Wildfire Institute.

    WHAT THEY’RE SAYING:

    “I applaud the bipartisan work and leadership of the Senate sponsors of this bill, including Colorado’s Senator Hickenlooper, in crafting a bill that will make Colorado communities safer amidst the urgent and growing wildfire crisis in the West. From supporting responsible and expedited on-the-ground fuel reductions, to bolstering the use and development of the latest wildfire satellite monitoring technology which compliments Colorado’s national leadership in the aerospace sector, and to investing in stewardship practices for local communities to be better prepared for wildfires and reforestation efforts with the state nursery to improve our ability to recover – this bill makes major strides in addressing the country’s wildfire risk and will support Colorado’s continued leadership in wildfire preparedness, response and recovery,” said Colorado Governor Jared Polis.

    “Extreme risk of catastrophic wildfires across the West demands urgent action,” said California Governor Gavin Newsom. “In California, we’re fast-tracking projects by streamlining state requirements and using more fuel breaks and prescribed fire. The Fix Our Forests Act is a step forward that will build on this progress — enabling good projects to happen faster on federal lands. I’m appreciative of Senator Padilla and the bipartisan team of Senators who crafted a balanced solution that will both protect communities and improve the health of our forests.”

    “A century of fire suppression and decades of reduced forest management have left us with overgrown, unhealthy forests that are more vulnerable to disease and catastrophic wildfire,” said Utah Governor Spencer Cox. “The Fix Our Forest Act, along with the tools provided by President Trump’s executive order, will help us actively manage our forests—protecting our watersheds, improving wildlife habitat, reducing wildfire risk, and providing the timber we need to build strong homes and neighborhoods.”

    “We applaud the efforts made by Senator Hickenlooper in the Fix Our Forests Act to provide federal, state, and local partners with the tools needed to address wildfire mitigation in the most vulnerable areas in Colorado. Wildfires do not abide by our political boundaries. But here in Colorado we have built strong coordination among federal, state, local land managers and stakeholders to help reduce the impact of wildfires on our critical infrastructure and landscapes,” said Dan Gibbs, Executive Director, Colorado Department of Natural Resources. “We appreciate that this legislation builds upon this important collaboration and draws on existing agreements, such as Shared Stewardship, which will help strengthen our intergovernmental partnerships as we prepare for the next Colorado mega-fire.”

    “Forests are central to our way of life in Colorado. They support world-class outdoor recreation and a vital water supply that more than 40 million Americans rely upon. I am grateful to Senator John Hickenlooper for his work on the bipartisan Fix Our Forests Act,” said Matt McCombs, Colorado State Forester and Director of the Colorado State Forest Service. “This critical legislation will bolster our shared stewardship ethic in Colorado and enhance our ability as a state to improve forest health, protect lives, communities and water supplies from wildfire, and ensure that the forests that define Colorado endure for generations to come.”

    “First of all, thanks to Senators Hickenlooper, Curtis, Sheehy, and Padilla for their leadership in moving all this forward! Having spent so many hours working on the Wildfire Mitigation and Management Commission, it is refreshing to see so many of the recommendations moving forward!” said Mike Morgan, Director of the Colorado Division of Fire Prevention and Control.“Colorado has taken a very aggressive approach in addressing the wildfire challenges we face and we are pleased to see these efforts at the federal level taking a more holistic look at the challenges we all face and in support of the Commission’s recommendations. This bipartisan effort will serve Colorado and America well! I fully support this effort and I am happy to help in any way that would be helpful.”

    “TNC appreciates the serious undertaking of Senators Curtis, Hickenlooper, Sheehy, and Padilla to build on legislation targeted at preventing more catastrophic wildfires through improved forest and fuels management and expanded use of prescribed fire. TNC has been working to restore beneficial fire and improve the resilience of forest systems on the ground for more than 60 years. Every year, wildfires continue to grow deadlier and more devastating to communities and the environment, and we remain concerned that the significant cuts to the Forest Service workforce will impede work to protect people and nature from these wildfire risks.  We support this legislative effort aimed at improving the forest management process to better address catastrophic wildfires,” said Kameran Onley, managing director of North America policy and government relations, The Nature Conservancy.

    “For many Americans, catastrophic wildfires are a very real and growing threat to their homes and lives,” said Environmental Defense Fund Executive Director Amanda Leland. “The U.S. Forest Service needs new tools and more resources now to prevent and control these wildfires, and with the right funding, this bipartisan proposal will help. Protecting people and nature from catastrophic wildfire requires both a robust, science-based plan of forest management and the resources to implement it.”

    “As the megafire crisis grows larger and more severe with each fire season, we need policy solutions that reflect the urgency and scale of the problem. Senators Curtis, Hickenlooper, Padilla and Sheehy have negotiated a Senate companion to the Fix Our Forests Act that will move the federal government towards a science-based, strategic approach to addressing megafires. We look forward to working with the sponsors to advance this bill and enact the most transformative wildfire and land management law in a generation—since the Healthy Forest Restoration Act of 2003, if not the National Forest Management Act of 1976,” said Matt Weiner, CEO of Megafire Action.

    “We are thrilled to see the Fix Our Forests Act introduced in the Senate through a bipartisan cooperation between Senators Curtis, Hickenlooper, Padilla, and Sheehy. The bill greatly expands upon the version that passed the House, adding critical details to support wildfire risk reduction in the built environment and provisions for mitigating the health impacts of smoke to communities while promoting expanded use of prescribed fire,”said Annie Schmidt and Tyson Bertone-Riggs, Managing Directors, Alliance for Wildfire Resilience. “Covering a third of the recommendations of the Wildland Fire Mitigation and Management Commission, this bill is a significant step forward in wildfire policy and, coupled with sufficient funding and staffing to realize the proposed tools and programs, will make a real difference in our nation’s experience with wildfire.”

    “I thank Senators Hickenlooper, Padilla, Curtis, and Sheehy for introducing this bipartisan legislation,” said Fire Chief Josh Waldo, President and Board Chair of the International Association of Fire Chiefs. “As we saw in January’s fires in Los Angeles, the nation faces a serious and growing risk from fires in the wildland urban interface (WUI). This legislation will enact many of the recommendations of the Wildland Fire Mitigation and Management Commission. It also will improve coordination of federal wildland fire preparedness efforts; promote the use of prescribed fires and other preventative measures to prevent WUI fires; and promote the development of new technologies to help local fire departments. We look forward to working with the bill’s sponsors to pass this legislation.”

    “Our national forests provide essential wildlife habitat, store carbon, and supply communities across the nation with clean air and water. These vital landscapes are under threat and must be proactively stewarded if they are to survive the changing climate, rapidly intensifying wildfires, and past management missteps. The bipartisan Fix Our Forests Act will help increase the pace and scale of evidence-backed forest management, including the use of beneficial prescribed fire and the restoration of white oak forests. But we must have a robust and talented federal workforce in place for it to succeed,” said Abby Tinsley, vice president for conservation policy at the National Wildlife Federation. “We will work with Senators Hickenlooper, Padilla, Sheehy, Curtis, and Chairman Westerman in the House to strengthen and advance this important conversation.”

    “The health of our nation’s forests is dependent on the rivers, streams, and wetlands that sustain them. Actively conserving and restoring these critical aquatic resources is an important tool that can be used to mitigate the impacts of wildfire and drought, among other threats,” said Alicia Marrs, director of western water for the National Wildlife Federation. “We’re encouraged to see language in the bipartisan Fix Our Forests Act that recognizes the wildfire benefits of aquatic restoration. We look forward to continuing to work with leaders from both sides of the aisle to elevate these common sense and cost-effective approaches to forest and water management for all Americans.”

    “Wildfires grow more intense and destructive each year, leaving behind immense devastation for our forests, wildlife, and communities,” said Marshall Johnson, chief conservation officer at the National Audubon Society.“The bipartisan Fix Our Forests Act represents an important step in reducing wildfire risks across forested landscapes. Audubon thanks Senators Hickenlooper, Curtis, Padilla, and Sheehy for working together to craft a bill that sets the stage for improved forest management, and we urge Congress to dedicate the resources necessary to ensure federal agencies are well-equipped to reduce wildfire risks, steward our forestlands, and protect wildlife habitat.”

    “The growing frequency and severity of wildfires pose a tremendous threat to the health of our forests and the safety of countless communities. The Fix Our Forests Act takes important steps to mitigate wildfires, improve forest health, and protect local communities. We appreciate this thoughtful, bipartisan effort led by Senators Curtis, Hickenlooper, Sheehy, and Padilla to advance this important legislation,” said Jennifer Tyler, VP of Government Affairs at Citizens’ Climate Lobby.

    “The declining health of our National Forests and the fish and wildlife habitat that they provide is a concern for America’s hunters and anglers,”said Joel Pedersen, president and CEO of the Theodore Roosevelt Conservation Partnership. “TRCP applauds the leadership of Senators Curtis, Sheehy, Hickenlooper, and Padilla for introducing the bipartisan Fix Our Forests Act in the Senate and urges Congress to advance these important forest management provisions and to accompany them with adequate resources and capacity to carry out on-the-ground work.”   

    “HECHO enthusiastically applauds the impressive bipartisan leadership behind the Senate’s Fix Our Forests Act. At a time when cooperation is more important than ever, these Senators are putting forward real, thoughtful solutions to reduce wildfire risk while engaging local and rural communities. This legislation is a critical step toward actively managing our forests to protect public lands, watersheds, and the communities that depend on them. By expediting emergency authorities in high-risk firesheds —and through the creation of the Wildfire Intelligence Center—this effort has the potential to significantly reduce catastrophic wildfires and strengthen prediction and response, particularly in fire-prone states like Arizona, New Mexico, Colorado, Nevada, and Utah. It’s a shining example of the kind of balanced, forward-looking leadership we need to protect our natural landscapes and communities,” said Camilla Simon, Executive Director of Hispanics Enjoying Camping, Hunting, and the Outdoors (HECHO).

    “BPC Action applauds the bipartisan leadership of Sens. Curtis (R-UT), Hickenlooper (D-CO), Sheehy (R-MT), and Padilla (D-CA) on the introduction of the Fix Our Forests Act. By streamlining and improving forest and hazardous fuels management activities on public and Tribal lands, this legislation will help reduce wildfire risks, improve forest health, and protect communities in fire-prone areas. The Fix Our Forests Act also delivers substantial economic and environmental benefits by addressing critical needs to enhance the domestic supply chain of seeds and advance biochar commercialization,” said Michele Stockwell, President of Bipartisan Policy Center Action (BPC Action).

    “The Senate’s bipartisan Fix Our Forest Act is a critical step toward restoring forest health and reducing catastrophic wildfire risk. This bipartisan legislation tackles the root causes of catastrophic wildfires by fixing the Cottonwood decision, reforming litigation standards, expanding categorical exclusions up to 10,000 acres, and boosting restoration capacity through long-term stewardship contracts and extended Good Neighbor Authority. Healthy forests require active stewardship—not bureaucratic delay. We thank Senators Hickenlooper, Sheehy, Padilla, and Curtis for bringing forward this bill, and we urge swift passage of this much-needed legislation,” said Brian Yabolnski, CEO of The Property and Environment Research Center (PERC).

    “Wildfires continue to ravage communities igniting homes, businesses, and infrastructure. APCIA commends Senators Curtis, Hickenlooper, Sheehy, and Padilla for their bipartisan leadership of the Fix Our Forests Act. The bill would improve fire assessment and prediction for wildland areas and communities to improve response, reduce hazardous fuels, enable greater vegetation management by utilities in federal rights-of-way to prevent fires, and create a community wildfire risk reduction program to support fire-resistant building methods, codes, and standards, promote ignition-resistant materials, defensible space, and other measures to reduce risk,” said David A. Sampson, President & CEO of APCIA

    “The Fix Our Forests Act streamlines collaboration between the National Wild Turkey Federation, the USDA Forest Service, and other partners, cutting red tape to accelerate urgent forest restoration and management on federal lands,” said Matt Lindler, NWTF Director of Government Affairs. “This bill ensures we can better manage and conserve vital natural resources for wildlife, hunters and anglers. We are grateful to see the Senate introduce this critical piece of legislation and await the signature from the president.”   

    “There is no time to waste in restoring and reforesting the forests that work every day to be the lungs of our nation,” said Brian Kittler, Chief Program Officer-Resilient Forests. “More than ever before successful and timely forest restoration will require strengthened coordination across federal, state, and tribal governments together with non-profit organizations. This bill prioritizes a complementary series of actions that will accelerate wildfire resilience and community resilience including ensuring post-fire reforestation is implemented quickly and with the best available science.”

    “The science is clear: tackling the wildfire crisis requires better forest management, increasing the use of prescribed fire, and investing in and deploying the next generation of wildfire technologies. The Fix Our Forests Act will get this urgently needed work done. Now is the time for the Senate to build on the bipartisan leadership demonstrated by the sponsors and pass this bill,” said James Campbell, Wildfire Policy Specialist at the Federation of American Scientists.

    “CWI commends Senator Curtis, Senator Hickenlooper, Senator Sheehy, and Senator Padilla for their bipartisan efforts to meaningfully address the wildfire crisis. The Fix Our Forests Act is an important step towards accelerating proven solutions to reduce catastrophic fire risk, improve forest and ecosystem health, and safeguard our local communities,” said Marissa Christiansen, Executive Director at the Climate and Wildfire Institute.“We are pleased to see many recommendations from the Wildland Fire Mitigation and Management Commission Report included in the updated legislation, including a directive to establish the Wildfire Intelligence Center to serve as the national hub for wildfire data, prediction, and response. We look forward to working with the bill’s sponsors to help accelerate solutions to the wildfire crisis by incorporating the best available science, data, and management principles into commonsense policy reform and decision-making.”

    “AFI supports the Fix Our Forests Act and calls on the United States Senate to pass it with the urgency the $100 billion a year wildfire crisis warrants from our elected officials,” said Bill Clerico, Founding Chair of AFI and Managing Partner of Convective Capital. “AFI is particularly supportive of the legislation’s inclusion of a Wildfire Intelligence Center, a long-overdue step to better integrate and coordinate wildfire response efforts and invest in cutting-edge technology. Our country’s wildfire response efforts are antiquated and are leaving us ill-prepared for this growing crisis. FOFA is a critical step to refining our wildfire response efforts and protecting our communities.”

    “State forestry agencies play a lead role not only in managing and protecting over 550 million acres of state and private forests, but also working to improve the health and resiliency of federal lands through cross-boundary partnerships nationwide. State Foresters are also responsible for wildfire protection on more than 1.5 billion acres and, in collaboration with local fire departments, responding to 80 percent of the nation’s wildland fires,” said Jay Farrell, Executive Director of the NASF. “NASF applauds the bipartisan work of Senators Sheehy, Curtis, Hickenlooper, and Padilla to chart a path forward to greatly enhance wildfire management and recovery efforts and stem the tide of disastrous wildfires that threaten our nation’s forests and the livelihood of communities that depend on them. We recognize that many of the improvements made in the Fix Our Forests Act are nuanced and look forward to continuing our work with Congress to ensure its landmark reforms become law.”

    “The poor health of our federal forests exacerbates the wildfires that negatively impact wildlife habitat, sportsmen’s access, and communities across the country, and comprehensive reforms are needed to actively treat hazardous fuels efficiently and at scale to increase forest resiliency to severe wildfires, insects, and disease,” said John Culclasure, Senior Director of Forest Policy at the Congressional Sportsmen’s Foundation. “We are grateful for the bipartisan leadership of Congressional Sportsmen’s Caucus Members Senators Curtis, Hickenlooper, Padilla, and Sheehy for introducing the Fix Our Forests Act to improve forest management through strengthened authorities, collaborative tools, and improved processes. We look forward to working with the bill sponsors to advance the legislation quickly as we approach wildfire season.”

    “Arnold Ventures praises the bipartisan introduction of the Fix Our Forests Act, an evidence-based, constructive proposal to cut red tape and prevent catastrophic forest fires. We applaud Senators John Curtis (R‑UT), John Hickenlooper (D‑CO), Tim Sheehy (R‑MT), and Alex Padilla (D‑CA) for their work to craft and introduce this important and necessary legislation. We encourage all Senators to support and ultimately pass the Fix Our Forests Act,” said Charlie Anderson, Executive Vice President for infrastructure at Arnold Ventures. “AV also thanks Reps. Bruce Westerman (R‑AR) and Scott Peters (D‑CA) for championing this vital work in the House of Representatives. We are heartened by the collaborative work across party lines in both chambers to support thoughtful, bipartisan policy that will save lives and property.”

    “Berkshire Hathaway Energy applauds the Senate introduction of the Fix Our Forests Act and thanks the bipartisan group of Senators who worked together to move it forward. The bill’s provisions would improve forest management activities on federal and tribal lands in common-sense ways, improving their resilience to wildfire,” said Scott Thon, President and CEO of Berkshire Hathaway Energy. “Passage and enactment of these provisions would be a step to help prevent catastrophic wildfires and lessen their environmental damage. Berkshire Hathaway Energy recognizes the growing threat of wildfires affects everyone and requires holistic solutions with businesses, governments and key stakeholders working together to design and implement constructive, enduring solutions.”

    Our forests face serious threats, and this bipartisan bill is a vital step forward in addressing complex forest health challenges,” said Joel Ferry, Executive Director of the Utah Department of Natural Resources. “It gives land managers the tools to proactively reduce wildfire risk, protect critical watersheds, and restore forest ecosystems through stronger collaboration.”

    “The bipartisan Fix Our Forests Act provides much-needed tools that will move the needle and improve our work to mitigate wildfires,” said CAL FIRE Director and Fire Chief Joe Tyler. “This bill will bring California’s use of cutting-edge technology to the rest of the country. The proposed Wildfire Intelligence Center will advance the kind of predictive services, monitoring, and early detection work already happening at California’s Wildfire Forecast and Threat Intelligence Integration Center.”

    “Utah’s farmers and ranchers applaud Senator Curtis’ sponsorship of the ‘Fix Our Forests Act’, which will enhance forest health, reduce wildfire risks, and protect vital watersheds. We are particularly encouraged by provisions promoting locally-led restoration efforts, targeted grazing as a wildfire mitigation tool, and watershed protection strategies,” said ValJay Rigby, Utah Farm Bureau Federation President. “The Utah Farm Bureau appreciates the bill’s emphasis on active forest management and increasing the pace and scale of treatment projects to address catastrophic wildfire risks. The ‘Fix Our Forests Act’ represents a significant step toward healthier forests and safer communities.”

    BACKGROUND:

    The West has long been prone to wildfires, but climate change, prolonged drought, and the buildup of dry fuels have increasingly intensified these fires and extended fire seasons. Wildfires today are more catastrophic – growing larger, spreading faster, and burning more land than ever before.

    Colorado has seen four of the five largest fires in our state’s history since 2018. The 2021 Marshall fire was Colorado’s most destructive on record, burning over 1,000 homes. The Cameron Peak and East Troublesome fires in 2020 together burned more than 400,000 acres, the two largest fires in the state’s history. Nationwide, total acres burned rose from 2.7 million in 2023 to nearly 9 million in 2024, a 231% increase.

    Forest health challenges are also increasing in frequency and severity due to climate stressors like drought and fire, and biological threats like invasive species – all of which the West is particularly vulnerable to. From 2001 to 2019, total U.S. forest area declined by 2.3%, with the Intermountain West experiencing the largest losses by area.

    To address these challenges, the Fix Our Forests Act would:

    • Establish new and updated programs to reduce wildfire risks across large, high-priority “firesheds,” with an emphasis on cross-boundary collaboration.
    • Streamline and expand tools for forest health projects (e.g., stewardship contracting, Good Neighbor Agreements) and provide faster processes for certain hazardous fuels treatments.
    • Create a single interagency program to help communities in the wildland-urban interface build and retrofit with wildfire-resistant measures, while simplifying and consolidating grant applications.
    • Boost reforestation with the inclusion of Hickenlooper’s Reforestation, Nurseries, and Genetic Resources (RNGR) Support Act to support reforestation capacity of state, tribal, and private nurseries.
    • Strengthen coordination efforts across agencies through a new Wildfire Intelligence Center with the inclusion of Hickenlooper’s bipartisan Wildfire Intelligence Collaboration and Coordination Act of 2025, which would streamline federal response and create a whole-of-government approach to combating wildfires.
    • Support prescribed fire activities on both federal and non-federal lands – prioritizing large, cross-boundary projects, strengthening the prescribed fire workforce, and facilitating coordination on air quality protections.
    • Expand research and demonstration initiatives – including biochar projects and the Community Wildfire Defense Research Program – to test and deploy cutting-edge wildfire prevention, detection, and mitigation technologies.
    • Enable watershed protection and restoration projects to include adjacent non-federal lands; establish new programs for white oak restoration; and clarify policies to reduce wildfire-related litigation and expedite forest health treatments.

    A one-pager can be found here, and a section-by-section can be found here.

    The Fix Our Forests Act was originally introduced in the House of Representatives by Representatives Bruce Westerman and Scott Peters.

    Hickenlooper has been an active supporter of wildfire resilience, including sponsorship of legislation to restore land management agency staffing and pushback on the firings of the federal employees that support wildfire resilience on our public lands. The Fix Our Forests Act provides the tools necessary to accelerate wildfire resilience, which will work alongside Hickenlooper’s sustained efforts for the funding and staffing necessary for land management efforts.

    MIL OSI USA News

  • MIL-OSI Security: FBI Releases Annual Internet Crime Report

    Source: Federal Bureau of Investigation FBI Crime News (b)

    The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) has released its latest annual report. The 2024 Internet Crime Report combines information from 859,532 complaints of suspected internet crime and details reported losses exceeding $16 billion—a 33% increase in losses from 2023.

    The top three cyber crimes, by number of complaints reported by victims in 2024, were phishing/spoofing, extortion, and personal data breaches. Victims of investment fraud, specifically those involving cryptocurrency, reported the most losses—totaling over $6.5 billion.

    According to the 2024 report, the most complaints were received from California, Texas, and Florida. As a group, people over the age of 60 suffered the most losses at nearly $5 billion and submitted the greatest number of complaints.

    “Reporting is one of the first and most important steps in fighting crime so law enforcement can use this information to combat a variety of frauds and scams,” said FBI Director, Kash Patel. “The IC3, which is celebrating its 25th anniversary this year, is only as successful as the reports it receives; that’s why it’s imperative that the public immediately report suspected cyber-enabled criminal activity to the FBI.”

    To promote public awareness, the IC3 produces an annual report to aggregate and highlight the data provided by the general public. The quality of the data is a direct reflection of the information the public provides through the IC3 website. The IC3 standardizes the data by categorizing each complaint and analyzes the data to identify and forecast trends in internet crime. The annual report helps the FBI develop effective relationships with industry partners and share information for investigative and intelligence purposes for law enforcement and public awareness.

    The IC3, which was established in May 2000, houses nine million complaints from the public in its database and continues to encourage anyone who thinks they’ve been the victim of a cyber-enabled crime, regardless of dollar loss, to file a complaint through the IC3 website. The more comprehensive complaints the FBI receives, the more effective it will be in helping law enforcement gain a more accurate picture of the extent and nature of internet-facilitated crimes.

    The FBI recommends that everyone frequently review consumer and industry alerts published by the IC3. If you or your business are a victim of an internet crime, immediately notify all financial institutions involved in the relevant transactions, submit a complaint to www.ic3.gov, contact your nearest FBI field office, and contact local law enforcement.

    Learn more about the history of IC3 by listening to this previously released FBI podcast episode: Inside the FBI: IC3 Turns 20.

    The full 2024 Internet Crime Report can be found here: ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

    MIL Security OSI

  • MIL-OSI Security: St. Louis Man Admits Bank Robbery and Attempted Bank Robbery

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ST. LOUIS – A St. Louis man admitted robbing a St. Louis bank in 2024 and trying to rob the same bank three months later.

    Isaac Perry, 39, pleaded guilty in U.S. District Court to one count of bank robbery and one count of attempted bank robbery. He admitted entering a bank on Loughborough Avenue in south St. Louis on June 25, 2024, and handing a note to a bank employee. The note read, “I nee[d] you to hand over 10,000 in cash if not it aint gone end good please.” Perry drew a red heart around the word “please.” He left the bank with about $340.

    On Oct. 3, 2024, Perry returned, and again handed a note to a bank employee. The note said, “This is a stick up I need you to give me 6,000 dollars in all hundreds in make it quick.” The note had another heart. The bank employee told Perry that she had activated an alarm and police were on the way.  Perry fled the bank but was identified in photos of the robbery that were released to the public.

    Perry is scheduled to be sentenced on July 29. Each charge carries a potential penalty of up to 20 years in prison, a $250,000 fine or both prison and a fine.

    The FBI and the St. Louis Metropolitan Police Department investigated the case. Assistant U.S. Attorney Nichole Frankenberg is prosecuting the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI

  • MIL-OSI Video: Director of Kansas City Bureau of Investigation Describes Role of JTTF

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Tony Mattivi, director of the Kansas City Bureau of Investigation, describes the role of FBI Kansas City’s Joint Terrorism Task Force.

    More at: https://www.fbi.gov/news/stories/celebrating-45-years-of-fbi-joint-terrorism-task-forces
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    MIL OSI Video

  • MIL-OSI Video: Retired Special Agent Describes Role of FBI Kansas City JTTF

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Retired Special Agent Dana Kreeger, who served on the Kansas City Joint Terrorism Task Force (JTTF), describes the role of the JTTF.

    More at: https://www.fbi.gov/news/stories/celebrating-45-years-of-fbi-joint-terrorism-task-forces
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    MIL OSI Video

  • MIL-OSI Video: Kansas City Detective Describes Role of FBI Joint Terrorism Task Force

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Vince Kingston, a detective of the Kansas City, Kansas Police Department and a task force officer on the FBI Kansas City Joint Terrorism Task Force (JTTF), describes the role of the JTTF.

    More at: https://www.fbi.gov/news/stories/celebrating-45-years-of-fbi-joint-terrorism-task-forces
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    MIL OSI Video

  • MIL-OSI Video: Special Agent Jake Foiles Discusses Role of Joint Terrorism Task Force

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Special Agent Jake Foiles, supervisor of the FBI Kansas City Joint Terrorism Task Force (JTTF) discusses the role of the JTTF.

    More at: https://www.fbi.gov/news/stories/celebrating-45-years-of-fbi-joint-terrorism-task-forces
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    MIL OSI Video

  • MIL-OSI Video: Retired Detective Barry Berglund Describes Role of FBI Kansas City JTTF

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Barry Berglund, a retired detective of the Kansas City, Missouri Police Department and a task force officer on the FBI Kansas City Joint Terrorism Task Force (JTTF), describes the role of the JTTF.

    More at: https://www.fbi.gov/news/stories/celebrating-45-years-of-fbi-joint-terrorism-task-forces
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    MIL OSI Video

  • MIL-OSI Security: Illegal alien sentenced in multimillion-dollar elder fraud ring

    Source: Office of United States Attorneys

    HOUSTON – The second ringleader in an international fraud scheme victimizing the elderly has been ordered to prison, announced U.S. Attorney Nicholas J. Ganjei for the Southern District of Texas (SDTX).

    Hardik Jayantilal Patel, 37, illegally resided in Lexington, Kentucky. He pleaded guilty Dec. 1, 2023.

    U.S. District Judge Andrew S. Hanen has now sentenced Patel to serve 46 months in federal prison to be immediately followed by three years of supervised release. Patel will also pay a combined $3,203,478 in restitution to 85 identified victims. In handing down the sentence, Judge Hanen noted the large number of victims and the significant harm Patel and his conspirators caused. Not a U.S. citizen, Patel is expected to face removal proceedings following the sentence.

    “We have an obligation to protect our seniors from the predations of scammers,” said Ganjei. “SDTX will tirelessly pursue those that seek to profit by swindling the elderly.”

    From March through November 2019, Patel led a team of domestic money mules aka “runners.” They laundered money tied to telemarketing fraud schemes originating from call centers in India. Most victims were elderly.

    Scammers pretended to work for the U.S. government and claimed the victims were under investigation. They claimed the only way to clear their name was to send cash by mail. Runners in the United States would then pick up the packages and launder the cash.

    At least three runners worked under Patel in 2019. He also collaborated with an associate, Sohil Usmangani Vahora, who managed his own team of four runners. Together, they coordinated efforts to launder fraud proceeds.

    Runners under both Patel and Vahora picked up hundreds of packages between 2019 and 2020 nationwide. These packages contained millions of dollars in cash that victims in multiple states had sent.

    Patel was the last of seven to be sentenced in related cases in the SDTX. Vahora, 40, Des Plaines, Illinois, received more than 15 years in prison and was ordered to pay over $3.5 million in restitution.

    Zaheen Malvi, 30, Heber Springs, Arkansas, initially worked as a runner in the scheme. He later assisted Vahora in managing two other individuals involved in the operation. He received a 54-month sentence and was ordered to pay more than $1.6 million in restitution.

    Dhirenkumar Patel, 33, Richmond, Kentucky, was a runner who worked for Patel. He was ordered to serve 18 months in prison and pay $225,221 in restitution to his victims.

    Three other runners received sentences ranging from 29-60 months.

    With the exception of Vahora, who was a legal permanent resident, Patel and his co-conspirators were all illegally in the country when they committed their crimes.

    Patel will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    The Social Security Administration – Office of Inspector General (SSA-OIG), Treasury Inspector General for Tax Administration, U.S. Postal Inspection Service and Immigration and Customs Enforcement – Homeland Security Investigations conducted the investigation with the assistance of the FBI, Kentucky State Police and police departments in Heber Springs, Arkansas, and Frankfort, Kentucky. Assistant U.S. Attorneys Stephanie Bauman and Kate Suh are prosecuting the case. 

    The SSA and its OIG consistently warns people of similar scams. Protect yourself! 

    MIL Security OSI

  • MIL-OSI USA: Former CIA Official Pleads Guilty to Acting as a Foreign Agent and Mishandling Classified Materials

    Source: US State of California

    Dale Britt Bendler, 68, of Miami, Florida, pleaded guilty today to, while being a public official at the Central Intelligence Agency (CIA), acting as a foreign agent required to register under the Foreign Agents Registration Act and removing classified material, classified up to the SECRET//NOFORN level, from authorized locations without authority and with the intent to retain such material at an unauthorized location.

    As described in the plea agreement, starting in 2014, Bendler began working as a full-time contractor at the CIA with a Top Secret/Sensitive Compartmented Information (TS/SCI) security clearance. Before he was a CIA contractor, Bendler spent over 30 years working for the CIA as an intelligence officer and retired as a member of the Senior Intelligence Service in 2014. Beginning in July 2017 and continuing through at least July 2020, while a full-time CIA contractor and TS/SCI clearance holder, Bendler worked with a U.S. lobbying firm and engaged in unauthorized and hidden lobbying and public relations activities on behalf of foreign national clients. As described in the plea agreement, Bendler’s undisclosed lobbying activities included an attempt to use his position and access at the CIA to influence a foreign government’s embezzlement investigation of one of Bendler’s foreign national clients and a separate attempt to use his position and access at the CIA to influence the U.S. government’s decision as to whether to grant a U.S. visa to another of Bendler’s clients, who was alleged to be associated with terrorism financing. In exchange for his unauthorized outside activities, Bendler was paid hundreds of thousands of dollars.

    During the course of Bendler’s unauthorized lobbying and public relations activities, Bendler also abused his access to CIA resources and personnel by, among other things, searching classified CIA systems for any information related to his private lobbying clients, improperly storing and disclosing non-public, sensitive, and classified U.S. government information to people not authorized to receive such information, and lying to the CIA and the FBI about his status as a foreign agent and his unauthorized lobbying and public relations activities. The CIA terminated Bendler’s contract and access in September 2020.

    In addition to pleading guilty, Bendler consented to the forfeiture of $85,000. Bendler faces a maximum penalty of seven years in prison – two years for acting as a foreign agent while being a public official and five years for mishandling classified material. Bendler is scheduled to be sentenced on July 16.

    Sue Bai, head of the Justice Department’s National Security Division, U.S. Attorney Erik S. Siebert for the Eastern District of Virginia, Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division and Assistant Director in Charge Steven J. Jensen of the FBI Washington Field Office made the announcement.

    The FBI’s Washington Field Office investigated the case.

    Trial Attorney Adam P. Barry and Senior Trial Attorney Heather M. Schmidt of the National Security Division’s Counterintelligence and Export Control Section and Assistant U.S. Attorney Gordon D. Kromberg of the U.S. Attorney’s Office for the Eastern District of Virginia are prosecuting the case. Chief Jennifer Kennedy Gellie of the Counterintelligence and Export Control Section provided substantial assistance in this investigation in her prior role as a trial attorney. 

    MIL OSI USA News

  • MIL-OSI Security: Former CIA Official Pleads Guilty to Acting as a Foreign Agent and Mishandling Classified Materials

    Source: United States Attorneys General 7

    Dale Britt Bendler, 68, of Miami, Florida, pleaded guilty today to, while being a public official at the Central Intelligence Agency (CIA), acting as a foreign agent required to register under the Foreign Agents Registration Act and removing classified material, classified up to the SECRET//NOFORN level, from authorized locations without authority and with the intent to retain such material at an unauthorized location.

    As described in the plea agreement, starting in 2014, Bendler began working as a full-time contractor at the CIA with a Top Secret/Sensitive Compartmented Information (TS/SCI) security clearance. Before he was a CIA contractor, Bendler spent over 30 years working for the CIA as an intelligence officer and retired as a member of the Senior Intelligence Service in 2014. Beginning in July 2017 and continuing through at least July 2020, while a full-time CIA contractor and TS/SCI clearance holder, Bendler worked with a U.S. lobbying firm and engaged in unauthorized and hidden lobbying and public relations activities on behalf of foreign national clients. As described in the plea agreement, Bendler’s undisclosed lobbying activities included an attempt to use his position and access at the CIA to influence a foreign government’s embezzlement investigation of one of Bendler’s foreign national clients and a separate attempt to use his position and access at the CIA to influence the U.S. government’s decision as to whether to grant a U.S. visa to another of Bendler’s clients, who was alleged to be associated with terrorism financing. In exchange for his unauthorized outside activities, Bendler was paid hundreds of thousands of dollars.

    During the course of Bendler’s unauthorized lobbying and public relations activities, Bendler also abused his access to CIA resources and personnel by, among other things, searching classified CIA systems for any information related to his private lobbying clients, improperly storing and disclosing non-public, sensitive, and classified U.S. government information to people not authorized to receive such information, and lying to the CIA and the FBI about his status as a foreign agent and his unauthorized lobbying and public relations activities. The CIA terminated Bendler’s contract and access in September 2020.

    In addition to pleading guilty, Bendler consented to the forfeiture of $85,000. Bendler faces a maximum penalty of seven years in prison – two years for acting as a foreign agent while being a public official and five years for mishandling classified material. Bendler is scheduled to be sentenced on July 16.

    Sue Bai, head of the Justice Department’s National Security Division, U.S. Attorney Erik S. Siebert for the Eastern District of Virginia, Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division and Assistant Director in Charge Steven J. Jensen of the FBI Washington Field Office made the announcement.

    The FBI’s Washington Field Office investigated the case.

    Trial Attorney Adam P. Barry and Senior Trial Attorney Heather M. Schmidt of the National Security Division’s Counterintelligence and Export Control Section and Assistant U.S. Attorney Gordon D. Kromberg of the U.S. Attorney’s Office for the Eastern District of Virginia are prosecuting the case. Chief Jennifer Kennedy Gellie of the Counterintelligence and Export Control Section provided substantial assistance in this investigation in her prior role as a trial attorney. 

    MIL Security OSI

  • MIL-OSI: PFM CRYPTO Introduces One-Click Asset Management, Popularizing Crypto Earnings for 9.2 Million Users

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 23, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s price fluctuates between $80,000 and $90,000, investors are asking a critical question: Can crypto assets still reliably generate profits? PFM CRYPTO, a leading global crypto asset management service with data centers across 20 countries, including the UK, the United States, and Iceland, has announced its latest quarterly performance report. The findings reveal how the company is helping millions of users achieve stable returns through a simple, one-click crypto asset management solution.

    Survivorship bias in the crypto market: 
    As of the first quarter of 2025, about 69% of global cryptocurrency investors have achieved profitability. ​This data comes from the “2025 Cryptocurrency Adoption and Consumer Sentiment Report” released by Security. Although this data is exciting, among the profitable groups, more than 80% are long-term investors with a holding period of more than 2 years, while the loss rate of short-term traders who chase ups and downs is as high as 67%.

    Although the crypto market continues to fluctuate, PFM CRYPTO still achieved positive results in the first quarter:
    – Florida data center officially put into use (there are 20 data centers in the world).
    – Iceland data center alone has achieved 565 BTC, 1436 ETH, and other crypto assets output.
    – Created $410 million in crypto asset appreciation for millions of users.

    “We are pleased to announce a series of very positive results. Our impressive cost optimization structure has achieved results even in the face of price fluctuations in the cryptocurrency market.” PFM CRYPTO’s Chief Operating Officer said: “Our goal is to provide users with crypto asset services with zero technical barriers. By optimizing the distributed computing power architecture and green energy layout, users can still enjoy transparent and stable returns even during market fluctuations.”

    What is PFM CRYPTO’s crypto asset upgrade package?
    – No expensive equipment or professional skills are required. With just one click of hosting, PFM CRYPTO’s remote computing power can start serving you.
    – All packages will generate electronic contracts, and users can easily understand the benefits of each package.
    – Only a few platforms can achieve true 0 handling fees, and PFM CRYPTO has done it. All deposits and withdrawals are free of charge.

     
    PFMcrypto Offers $10 Bitcoin Bonus for New Users
    Nothing is more important than asset security, and PFM CRYPTO knows this. Key safeguards include:

    • Multi-layer cold storage
    • Two-factor authentication
    • Smart contract-driven operations
    • KYC compliance in multiple regions

    PFM CRYPTO’s approach has earned it a 4.7/5 user satisfaction score, with over 1.4 million verified reviews and the top spot in Blockchain Analytics Group’s April 2025 rankings.

    How to start PFM CRYPTO?
    – Register an account, which usually takes only one minute. Register now to get a $10 new user bonus.
    – Contract plans include 1 day, 2 days, 5 days, 10 days, etc. Choose the plan that suits you.
    – Start with one click, and the income will be credited to your account on time every day.

    PFM CRYPTO has been independently rated as the top free platform for earning Bitcoin, thanks to its user-first features, verified returns, and global accessibility. Here’s what sets it apart:

    • Free $10 Bitcoin Bonus: New users receive $10 in BTC upon registration—no deposit or wallet connection required.
    • Flexible Earning Plans: Choose short-term contracts of 1, 3, or 5 days, ideal for testing and scaling.
    • Fast, Fee-Free Withdrawals: All payouts are processed within 1–5 minutes, with no withdrawal or maintenance fees.
    • Advanced Security Protocols: The platform uses cold wallet storage, 2FA, and blockchain-based electronic contracts to ensure safety and transparency.

    The Future of Free Bitcoin Earnings Starts Now
    As more people seek alternative income sources, PFM CRYPTO positions itself as the best free crypto asset management platform in 2025. Whether new to crypto or expanding the portfolio, PFM CRYPTO provides a low-risk, high-potential entry point into Bitcoin.
    Start earning today—register now at pfmcrypto.net and claim a $10 bonus.

    Media Contact:

    Amelia Elspeth
    PFM CRYPTO
    info@pfmcrypto.net
    https://pfmcrypto.net/

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9980ebd0-dea1-4aa7-88a1-4443b0251f7c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fa150a23-a784-405e-99ef-31afeae0541e

    The MIL Network

  • MIL-OSI Security: Marathon County Woman Sentenced to Six Years for Conspiring to Traffic Methamphetamine

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Mercadys A. Perkins is the first defendant sentenced from trafficking organization

    MADISON, WIS. – Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin, announced that Mercadys A. Perkins, 32, Weston, Wisconsin, was sentenced today by U.S. District Judge William M. Conley to 6 years in federal prison for conspiring to distribute 50 grams or more of methamphetamine. The prison term will be followed by 5 years of supervised release. Perkins pleaded guilty to this charge on January 21, 2025.

    In early 2024, investigators with the Central Wisconsin Narcotics Task Force began investigating a group of individuals who were distributing large quantities of methamphetamine in the Marathon County area. Perkins was identified as a distributor for the group.

    In March and April of 2024, Perkins sold methamphetamine three times to an informant, the largest sale being 230 grams. On April 16, 2024, task force officers executed a search warrant at Perkins’s residence in Weston. Officers found over 300 grams of methamphetamine, over $2,000 in cash, drug ledgers, and other drug trafficking paraphernalia during the search. Perkins later admitted to trafficking large quantities of methamphetamine.

    Further investigation revealed that between February 18, 2024, and April 12, 2024, a co-conspirator provided Perkins and another individual approximately 16 pounds of methamphetamine and 6 ounces of cocaine intended for further distribution.

    At the time of these events, Perkins was serving a term of state probation for a methamphetamine possession conviction and was out on bond on four open state cases, three of which involved methamphetamine trafficking. Her state probation was revoked, and she was sentenced to 2 years in state prison, which she is currently serving. Judge Conley ordered the federal sentence to run concurrently with the remainder of Perkins’ state prison sentence.

    At sentencing, Judge Conley said Perkins participated with her co-defendants to distribute significant quantities of methamphetamine in an around Marathon County. He said he weighed this serious conduct against some mitigating factors including her profound drug addiction.

    Three others were charged in connection with this drug trafficking conspiracy. Co-defendants Joshua Lake, Jessica Colby, and Dustin Brunker have all pleaded guilty and are scheduled to be sentenced in the coming weeks.

    The charge against Perkins was the result of an investigation conducted by the Federal Bureau of Investigation’s Central Wisconsin Narcotics Task Force comprised of investigators from the FBI, Wisconsin State Patrol, Wisconsin Department of Criminal Investigation, Lincoln County Sheriff’s Office, Marathon County Sheriff’s Office, Portage County Sheriff’s Office, Mountain Bay Police Department, Wausau Police Department and the Wisconsin National Guard Counter Drug Program. The ATF Madison Crime Gun Task Force also assisted with the case. The ATF Madison Crime Gun Task Force consists of federal agents from ATF and Task Force Officers from state and local agencies throughout the Western District of Wisconsin. The Marathon County District Attorney’s Office also assisted with the investigation. Assistant U.S. Attorney Steven P. Anderson prosecuted this case. 

    MIL Security OSI

  • MIL-OSI Security: Serhat Gumrukcu Convicted of Murder-for-Hire

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Burlington, Vermont – The United States Attorney for the District of Vermont announced that earlier today, after a five-week trial before Chief United States District Judge Christina Reiss, a federal jury convicted Serhat Gumrukcu, 42, of Los Angeles, California, of murder-for-hire, conspiracy to commit murder-for-hire, and conspiracy to commit wire fraud. Gumrukcu remains in jail pending sentencing, which has not been scheduled. Gumrukcu has been held in custody since his arrest in May of 2022.

    According to court records and evidence presented at trial, Gumrukcu solicited the murder of Gregory Davis due to Davis’s threats of legal action related to Gumrukcu’s role in a failed oil commodities transaction.  Gumrukcu’s conviction for wire fraud stemmed from his fraudulent activities in relation to this failed oil deal.  Gumrukcu was particularly motivated to silence Davis due to his negotiations of a multi-million-dollar biotech merger involving Gumrukcu’s alleged discovery of a cure for HIV.  Gumrukcu relied on his close friend, Berk Eratay, to arrange through a second intermediary, Aaron Ethridge, the hiring of a hitman to kill Davis.  Ethridge recruited Jerry Banks for the hitman role, who on January 6, 2018, posed as a Deputy U.S. Marshal, and abducted Davis from his Danville, Vermont home.  On January 7, 2018, Davis’s deceased body was located in a snowbank a short distance from his home.  Investigators quickly discovered emails and messaging indicating the tension between Gumrukcu and Davis over the failed oil deal, resulting in Gumrukcu being interviewed twice by the Federal Bureau of Investigation.  Gumrukcu made false statements during each interview.  Cellphone location information, purchase records, banking documentation, emails, and messaging discovered during the investigation led to the identification of the four conspirators who caused the kidnapping and death of Davis.
      
    Based on the jury’s verdict, Gumrukcu faces a statutorily mandated sentence of life imprisonment.
     
    “Serhat Gumrukcu tried to hide his role in the murder of Greg Davis by paying one man to pay another man to pay the hitman, who shot and killed Greg Davis on a January night in Vermont. Uncovering Gumrukcu’s responsibility for this murder involved years of determined investigation by the men and women of Vermont’s United States Attorney’s Office, working closely with the FBI and the Vermont State Police,” stated Acting United States Attorney Michael P. Drescher. “Holding Gumrukcu responsible for this murder also required the work of an extraordinarily talented trial team, consisting of Assistant United States Attorneys Paul Van de Graaf and Zachary Stendig, with tremendous courtroom support from Erin Thompson-Moran and Karen Arena-Leene.” Drescher also thanked the numerous law enforcement entities across the country who worked to identify Banks as the hired hitman, Ethridge and Eratay as middlemen, and Gumrukcu as the financier and benefactor of the murder scheme.

    FBI Special Agent in Charge, Craig L. Tremaroli stated, “Serhat Gumrukcu is a ruthless criminal whose greed drove him to order the death of his own business partner. Today, our thoughts are with Gregory Davis’s family. We are proud to have brought them justice and are incredibly grateful to our partners at the United States Attorney’s Office, and all our law enforcement partners across the country who assisted with this complex investigation.”

    “We join our federal partners in thanking the members of the jury for their careful deliberations and verdict convicting Serhat Gumrukcu of all charges,” said Col. Matthew T. Birmingham, director of the Vermont State Police. “The jury’s determination of guilt reflects the diligent police work and the copious evidence collected during what would become one of the most sweeping, comprehensive and complex investigations in Vermont State Police history. Starting on the day more than seven years ago that Gregory Davis’s body was discovered on a snowy, remote road in Barnet, the state police, along with our investigative partners including the FBI, focused on identifying those responsible for his senseless killing and bringing them to justice. We hope that with today’s verdict, Mr. Davis’s family may be able to find a small measure of comfort knowing the person who bore ultimate responsibility has been held accountable.”

    At trial, Assistant U.S. Attorneys Paul J. Van de Graaf and Zachary Stendig represented the government, with supported from Karen Arena-Leene and Erin Thompson-Moran.  Gumrukcu was represented by Susan K. Marcus, Esq., and Ethan A. Balogh, Esq. 

    MIL Security OSI

  • MIL-OSI Security: Ohio Man Sentenced to 35 Years in Prison for Possessing Fentanyl and Cocaine with Intent to Distribute

    Source: Office of United States Attorneys

    Officers called to investigate possible break-in instead found drugs with a street value of more than $30K

    CLEVELAND – Jamill H. McDonald, 43, of Mayfield Heights, Ohio, has been sentenced to 35 years in prison by U.S. District Judge John R. Adams, after a federal jury found him guilty of possessing distribution quantities of fentanyl and cocaine.

    According to court documents, on Oct. 18, 2023, McDonald contacted law enforcement to report that someone was breaking into his apartment. When officers arrived, McDonald granted them entry into his residence. The defendant showed officers his cellphone to view the video footage from his external security camera. The videos showed a male attempting to break into McDonald’s apartment. Officers did not find any other occupants inside the defendant’s apartment. However, as officers continued to check the apartment for signs of intrusion, they found a package in one of the bedrooms which they suspected contained narcotics. The defendant was shown the package in question, and he then informed officers that he had never seen the package before and did not know what they contained. The defendant was subsequently detained by the officers.

    During a search warrant execution of the defendant’s residence, authorities confiscated a number of suspicious items from the kitchen. They found baggies filled with various amounts of either marijuana or white powder, and a scale with residue. In the defendant’s bedroom, officers recovered three cellphones, a box with two large packages containing white powder, and two men’s jackets. In one jacket, investigators found three additional baggies that contained suspected narcotic pills. In the other jacket investigators found $10,200 cash.

    Laboratory tests conducted on the suspected narcotics found in McDonald’s residence were confirmed to be fentanyl, cocaine, and heroin. Collectively, the seized drugs weighed in at approximately 1 kilogram of cocaine, and 310 grams of fentanyl and heroin and calculated to have a street value of more than $30,000.

    During the investigation, authorities discovered that McDonald had at least two prior felony convictions of either a crime of violence or controlled substance offenses. Because of the defendant’s significant criminal history, Judge Adams designated him as a career offender, therefore making him eligible to receive an enhanced penalty at sentencing.

    This case was investigated by the FBI and the Mayfield Heights Police Department. The case was prosecuted by Assistant U.S. Attorney Yasmine Makridis for the Northern District of Ohio.

    MIL Security OSI

  • MIL-OSI Security: Three Pittsburgh Residents Charged in Superseding Indictment with Conspiracy, Defacing and Damaging Religious Property, Making False Statements, and Possession of Destructive Devices

    Source: Office of United States Attorneys

    PITTSBURGH, Pa. – A federal grand jury in Pittsburgh returned a Superseding Indictment against three residents of the Pittsburgh area on charges of conspiracy, defacing and damaging a religious building, making false statements in a matter within the jurisdiction of the Executive branch of the United States, and possession of destructive devices, Acting United States Attorney Troy Rivetti announced today.

    The nine-count Superseding Indictment named Mohamad Hamad, 23, of Coraopolis, Tayla A. Lubit, 24, of Pittsburgh, and Micaiah Collins, 22, of Pittsburgh, as defendants. Hamad and Lubit were previously indicted for their roles in defacing Jewish religious property with pro-Palestinian and anti-Zionist graffiti (read the Indictment news release here).

    According to the Superseding Indictment, Hamad enlisted with the United States Air Force, Pennsylvania Air National Guard (PAANG) in 2023. Hamad was assigned to the 171st Maintenance Squadron of the PAANG, stationed in Moon Township, Pennsylvania, near the Pittsburgh International Airport. The 171st Maintenance Squadron is a part of the 171st Air Refueling Wing, the primary mission of which is to provide in-flight refueling to Department of Defense (DoD) and North Atlantic Treaty Organization (NATO) aircraft.

    In connection with his enlistment, Hamad sought a Top-Secret security clearance. The Defense Counterintelligence and Security Agency (DCSA) investigated Hamad to determine if he should be granted that clearance. Hamad had three in-person interviews as part of his background investigation and, as alleged in the Superseding Indictment, made a series of false statements as part of that process.

    The Superseding Indictment also alleges that, during this same time period, Collins conspired with Hamad to manufacture and possess a destructive device, and discussed the potential uses for the devices that they were building and testing. After Hamad and Collins detonated a device, Hamad built additional destructive devices, including two pipe bombs, and detonated those as well.

    “As alleged in the Superseding Indictment, Mohamad Hamad lied about his loyalty to the United States, among other false statements, in an attempt to obtain a Top-Secret security clearance,” said Acting U.S. Attorney Rivetti. “During that time, he openly expressed support for Lebanon, Hezbollah, and Hamas. In addition to his previously charged role in defacing Jewish religious property, he also conspired with others named in this Superseding Indictment to manufacture and detonate destructive devices. Our office remains resolute in its commitment to working alongside federal, state, and local law enforcement partners to investigate crimes like these and to safeguard both the Jewish community and the public at large.”

    “Protecting the American people is spelled out in the Mission of the FBI. That includes all our communities,” said FBI Pittsburgh Special Agent in Charge Kevin Rojek. “The FBI and our partners are committed to investigating and prosecuting individuals who reportedly choose to lie about being loyal to this country and instead engage in dangerous, menacing, and illegal activities.”

    The law provides for a maximum total sentence of, for Hamad, 10 years in prison and a $250,000 fine; for Collins, five years in prison and a $250,000 fine; and for Lubit, one year in prison and a $100,000 fine. Under the federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

    Assistant United States Attorneys Nicole Vasquez Schmitt and Carolyn J. Bloch are prosecuting this case on behalf of the government, with assistance from the Department of Justice National Security Division, Trial Attorney Jennifer Levy.

    The Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Pittsburgh Bureau of Police conducted the investigation leading to the Superseding Indictment.

    A Superseding Indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.

    MIL Security OSI

  • MIL-OSI Security: Union County Teacher Admits to Producing Child Pornography

    Source: Office of United States Attorneys

    NEWARK, N.J. – A Union County, New Jersey, man who was employed as a New Jersey high school teacher, admitted to producing child pornography, U.S. Attorney Alina Habba announced.

    Michael Hamilton, 53, pleaded guilty before U.S. District Judge Christine P. O’Hearn in Camden federal court to one count of producing child pornography.

    According to documents filed in this case and statements made in court:

    Hamilton admitted to meeting a minor victim and engaging in sexual conduct with that victim, which Hamilton recorded on video. Law enforcement seized a copy of that video during the search of his home in October 2023. Hamilton also admitted to receiving and possessing sexually explicit messages, pictures, and videos of two other minor victims.

    The charge of production of child pornography carries a mandatory minimum penalty of 15 years in prison and a maximum potential penalty of 30 years in prison and a $250,000 fine.  Sentencing is scheduled for September 9, 2025.

    U.S. Attorney Habba credited FBI Newark’s Child Exploitation and Human Trafficking Task Force, under the direction of Acting Special Agent in Charge Terence G. Reilly, with the investigation.  U.S. Attorney Habba also thanked the Springfield Police Department and the Union County Prosecutor’s Office.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and the Child Exploitation and Obscenity Section (CEOS) in the Justice Department’s Criminal Division, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit: https://www.justice.gov/psc.

    The government is represented by Rebecca Sussman and Robert Taj Moore of the Narcotics/OCDETF Unit in Newark.

                                                                           ###

    Defense counsel: Randy Davenport, Esq.

    MIL Security OSI

  • MIL-OSI Security: Russell Laffitte Pleads Guilty to Conspiracy, Wire Fraud, Bank Fraud, and Misapplying Bank Funds

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    CHARLESTON, S.C. — Former banker Russell Lucius Laffitte, 54, of Estill, has pleaded guilty in federal court to conspiracy to commit wire fraud and bank fraud; wire fraud; bank fraud; and three counts of misapplication of bank funds.

    “Russell Laffitte and Alex Murdaugh abused their positions of power to victimize people who trusted them,” said Ben Garner, Chief of the U.S. Attorney’s Office Criminal Division. “As of today, both have pleaded guilty and accepted responsibility for their crimes in federal court. We appreciate the exhaustive work of our partners at the FBI, SLED, and South Carolina Attorney General’s Office to ensure justice for Laffitte and Murdaugh’s victims.”

    Laffitte was an officer and executive at Palmetto State Bank in Hampton, South Carolina. His co-conspirator, Alex Murdaugh, was a personal injury attorney at a law firm in Hampton.

    As part of his guilty plea, Laffitte admitted that he agreed to serve as conservator and personal representative for several of Murdaugh’s clients, knowing that he would personally profit from doing so. Beginning in 2011, Laffitte began extending himself and Murdaugh loans from conservator accounts Laffitte was charged with managing. Laffitte did not disclose the loans to the conservatees, despite owing them a fiduciary duty.

    Around that time, Murdaugh devised a scheme to obtain money belonging to his clients. In furtherance of the scheme, Murdaugh directed law firm employees to make clients’ checks payable to Palmetto State Bank. The checks were drawn on the law firm’s client trust account, identified the clients on the memo lines, and corresponded to amounts set forth in the clients’ disbursement sheets.

    As to two of Murdaugh’s clients, Laffitte—their conservator—saw their disbursement sheets and knew that the bank was supposed to receive their settlement funds. Murdaugh presented the clients’ checks to Laffitte and directed that they be used for Murdaugh’s personal benefit, including to pay off loans Laffitte had extended from conservator accounts. Laffitte negotiated nine separate transactions for Murdaugh’s benefit, knowing that the funds belonged to the clients.

    Laffitte also aided and abetted the structuring of transactions from a second check belonging to one of the clients, disbursing the funds at Murdaugh’s direction and for Murdaugh’s personal benefit.

    As to a third client of Murdaugh’s, Laffitte negotiated 12 separate transactions, disbursing $1,325,000 in client settlement funds for Murdaugh’s benefit. Despite knowing they were client funds, Laffitte allowed Murdaugh to use the funds to repay Murdaugh’s personal loans, repay loans Laffitte extended from a conservator account, purchase vehicles and equipment, and receive cash back. Laffitte also deposited some of the funds into Murdaugh’s personal account.

    Laffitte received $75,000 in conservator fees and $35,000 in personal representative fees from these three clients. He intentionally failed to report this income on his tax returns, knowing that he could hide the income because the fee checks were drafted to Palmetto State Bank rather than to him personally. Laffitte also structured transactions to avoid reporting requirements and intentionally failed to file suspicious activity reports.

    In 2015, Laffitte misapplied bank funds by extending over $284,000 from a line of credit that was supposed to be for farming to repay Murdaugh’s remaining loans from the conservatorship.

    Laffitte also misapplied bank funds on two other occasions. In July 2021, he extended Murdaugh a $750,000 loan for the stated purpose of beach house renovations. But Laffitte authorized a $350,000 wire transfer to an attorney and then transferred $400,000 of “loan proceeds” to Murdaugh’s account to cover over $367,000 in overdraft, knowing that these funds had nothing to do with beach house renovations.

    In October 2021, the law firm uncovered that Murdaugh had stolen from clients. Laffitte knew he had negotiated stolen checks at Murdaugh’s direction despite knowing the funds did not belong to Murdaugh. Laffitte then paid the law firm $680,000 in bank funds without the knowledge or consent of the full bank Board of Directors or Executive Committee in an attempt to settle the matter with the law firm.

    A federal jury previously convicted Laffitte of these same six charges in 2022. His conviction was overturned by the Fourth Circuit Court of Appeals in late 2024.

    Under the terms of the plea agreement, Laffitte agrees to pay $3,555,884.80 in criminal restitution before sentencing. Laffitte also agrees that his guilty plea prohibits him from controlling or participating in the conduct of any federally insured bank or credit union, and he cannot serve as a director or officer of any such bank or credit union without permission.

    If Laffitte complies with the plea agreement’s terms, the parties agree that the appropriate sentence is five years in prison, and the Government agrees not to file any additional related charges against Laffitte.

    United States District Judge Richard M. Gergel accepted the guilty plea and will impose a sentence at a later date.

    The case was investigated by the FBI Columbia Field Office and South Carolina Law Enforcement Division. Assistant U.S. Attorneys Emily Limehouse, Kathleen Stoughton, and Winston Holliday are prosecuting this case.

    ###

    MIL Security OSI

  • MIL-OSI Security: Houston Man Sentenced to Federal Prison for Smith County ATM Burglaries

    Source: Federal Bureau of Investigation (FBI) State Crime News

    TYLER, Texas – A Houston man has been sentenced to prison for federal violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    Julius Lawan Lockett, Jr., 30, pleaded guilty to conspiracy to commit bank theft and was sentenced to 14 months in federal prison and ordered to pay restitution of $243,540.85 and forfeiture of $79,850 by U.S. District Judge J. Campbell Barker on April 17, 2025.

    According to information presented in court, Lockett conspired with others to burglarize ATMs (automated teller machines) in the Smith County area.  On March 28, 2021, Lockett and Jermone Christopher Mayes, Jr., drove from Houston to Tyler to steal U.S. currency from ATMs in the area.  Using a Ford F-250 truck which had been stolen in Smith County, they attached chains to the truck and to an ATM at Chase Bank at South Southwest Loop 323 in Tyler.  The ATM was pulled open and approximately $159,700 was stolen.

    On January 29, 2025, Mayes was sentenced to 33 months in federal prison for his role in the conspiracy.

    This case was investigated by the FBI and the Tyler Police Department and prosecuted by Assistant U.S. Attorney Alan R. Jackson.

     

    ###

    MIL Security OSI

  • MIL-OSI Security: Texarkana Federal Inmate Sentenced in Prison Methamphetamine Conspiracy

    Source: Federal Bureau of Investigation (FBI) State Crime News

    TEXARKANA, Texas – A federal inmate man has been sentenced to additional time in federal prison for drug trafficking violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    Jimmy Barrientos, 38, of Grand Prairie, pleaded guilty to conspiracy to distribute methamphetamine in prison and was sentenced to 100 months in federal prison by U.S. District Judge Robert W. Schroeder, III, on April 15, 2025.

    According to information presented in court, Barrientos, an inmate at the Federal Correctional Institution (FCI) in Texarkana, instructed Catherine Gamez to bring methamphetamine with her during prisoner visitation.  On September 25, 2022, Gamez brought a portion of a condom containing approximately 20 grams of actual methamphetamine into the federal prison when she came to visit Barrientos.  Once Gamez entered the visitation room, she hid the condom containing methamphetamine in the soap dispenser in the restroom of the visitation room at the prison. FCI personnel recovered the condom from the soap dispenser and provided it to federal law enforcement.  Gamez pleaded guilty to the same offense in 2024 and is awaiting sentencing.

    This case was investigated by the FBI’s Texarkana Field Office and prosecuted by Assistant U.S. Attorney James Noble.

    ###

    MIL Security OSI

  • MIL-OSI: Coop Pank held an investor webinar to introduce unaudited results of Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    On Wednesday, 23 April 2025 at 9 am (EET), Coop Pank held an investor webinar, where the Chairman of the Board Margus Rink and the Chief Financial Officer Paavo Truu introduced the bank’s unaudited financial results of First Quarter of 2025. Webinar was held in Estonian language. 

    Coop Pank would like to thank all participants. Webinar recording is available here:
    https://youtu.be/pWHBsVjOwUI

    Coop Pank’s report for unaudited results of Q1 2025 and the presentation is available here:
    https://view.news.eu.nasdaq.com/view?id=bbb5642fa5392e27df29e013b9455d65a&lang=en

    Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking has reached 213,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti comprising 320 stores.

    Additional information:
    Katre Tatrik
    Communication Manager
    Tel: +372 5151 859
    E-mail: katre.tatrik@cooppank.ee

    The MIL Network

  • MIL-OSI: Amplify Announces Intention to Further Adjourn Special Meeting of Stockholders

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 23, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today announced that it intends to open and immediately adjourn its reconvened Special Meeting of Stockholders (the “Special Meeting”) relating to the Company’s proposed merger with Juniper Capital’s upstream Rocky Mountain portfolio companies. There will be no voting or other matters conducted at the meeting on April 23, 2025, and the Company intends to reconvene the Special Meeting on May 1, 2025 at 8:00 a.m. Central Time (and the adjourned meeting will be held virtually via the internet at www.cesonlineservices.com/ampysm_vm). The record date for the Special Meeting, March 3, 2025, is unchanged and applies to the reconvened Special Meeting.

    The Special Meeting will be adjourned to allow for further time to solicit proxies from the Company’s stockholders and provide stockholders with additional time to vote in order to facilitate broader participation.

    In order to virtually attend the Special Meeting, you must register in advance at www.cesonlineservices.com/ampysm_vm prior to April 30, 2025 at 8:00 a.m. Central Time. Please note, if you previously registered for the Special Meeting, you do not need to register again. You will not be able to attend the Special Meeting physically in person. Stockholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the reconvened Special Meeting. For stockholders who have not yet cast their votes, we urge them to vote their shares now, so they can be tabulated prior to the reconvened Special Meeting. For more information on how to vote, please call the Company’s proxy solicitor, Sodali & Co, on their toll-free number (800) 662-5200 or email AMPY@investor.sodali.com.

    The Company’s Board of Directors unanimously recommends that you vote FOR the proposals identified in the Company’s definitive proxy statement for the Special Meeting.

    About Amplify Energy
    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.

    Forward-Looking Statements
    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected timing of the adjourned Special Meeting. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.
    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.
    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com  

    Sodali & Co.

    Michael Verrechia / Eric Kamback / Christopher Rice
    (800) 662-5200
    AMPY@investor.sodali.com  

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network

  • MIL-OSI: Hanover Bancorp, Inc. Reports First Quarter 2025 Results Highlighted by Accelerated Margin Expansion, Improved Credit Quality Metrics & Successful Core Banking System Conversion

    Source: GlobeNewswire (MIL-OSI)

    First Quarter Performance Highlights

    • Net Income: Net income for the quarter ended March 31, 2025 totaled $1.5 million or $0.20 per diluted share (including Series A preferred shares). Adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) increased to $4.1 million or $0.55 per diluted share for the quarter ended March 31, 2025.
    • Net Interest Income: Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $0.8 million or 5.95% from the quarter ended December 31, 2024 and $1.7 million, or 13.10% from the quarter ended March 31, 2024.
    • Net Interest Margin Expansion: The Company’s net interest margin during the quarter ended March 31, 2025 increased to 2.68% from 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024.
    • Strong Liquidity Position: At March 31, 2025, undrawn liquidity sources, which include cash and unencumbered securities and secured and unsecured funding capacity, totaled $679.0 million, or approximately 322% of uninsured deposit balances. Insured and collateralized deposits, which include municipal deposits, accounted for approximately 89% of total deposits at March 31, 2025.
    • Demand Deposits: Demand deposits increased $12.6 million or 6.23% from March 31, 2024 and $3.9 million or 1.85% from December 31, 2024.
    • Loan Diversification Strategy: The Company continues to actively manage its Multi-Family and Commercial Real Estate portfolios which resulted in a reduction in the commercial real estate concentration ratio to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024. The Company continues to focus loan growth primarily in residential loan products originated for sale to specific buyers in the secondary market, C&I and SBA loans. The Company will selectively explore Commercial Real Estate opportunities with an emphasis on relationship based Commercial Real Estate lending.
    • Asset Quality: At March 31, 2025, the Bank’s asset quality improved with non-performing loans decreasing 28.5% to $11.7 million, representing 0.60% of the total loan portfolio, while the allowance for credit losses increased to 1.17% of total loans.
    • Tangible Book Value Per Share: Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.
    • Technology & Rebranding: The Company completed its core processing system conversion to FIS Horizon in February 2025. This conversion, coupled with our recently revealed refreshed corporate logo, exemplifies our momentum towards a more technologically advanced, modern and digitally forward-thinking bank.
    • Quarterly Cash Dividend: The Company’s Board of Directors approved a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

    MINEOLA, N.Y., April 23, 2025 (GLOBE NEWSWIRE) — Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter ended March 31, 2025 and the declaration of a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

    Earnings Summary for the Quarter Ended March 31, 2025

    The Company reported net income for the quarter ended March 31, 2025 of $1.5 million or $0.20 per diluted share (including Series A preferred shares), versus $4.1 million or $0.55 per diluted share (including Series A preferred shares) in the quarter ended March 31, 2024. The Company recorded adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) of $4.1 million or $0.55 per diluted share in the quarter ended March 31, 2025, versus net income of $4.1 million or $0.55 per diluted share in the comparable 2024 quarter (which included no adjustments). Returns on average assets, average stockholders’ equity and average tangible equity were 0.27%, 3.11% and 3.45%, respectively, for the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, for the comparable quarter of 2024. Adjusted (non-GAAP) returns, exclusive of core system conversion expenses on average assets, average stockholders’ equity and average tangible equity were 0.73%, 8.36% and 9.27%, respectively, in the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, in the comparable quarter of 2024.

    While net interest income and non-interest income increased during the quarter ended March 31, 2025 compared to the quarter ended March 31, 2024, these were partially offset by increases in provision for credit losses and non-interest expenses, particularly compensation and benefits and the one-time core system conversion expenses. The increase in compensation and benefits expense in the first quarter of 2025 versus the comparable 2024 quarter was primarily related to lower deferred loan origination costs partially offset by lower incentive compensation expense resulting from reduced lending activity. The Company’s effective tax rate decreased to 13.8% in the first quarter of 2025 from 24.9% both in the linked quarter and the comparable 2024 quarter due to the tax impact of the windfall benefit from expiring stock options that were exercised and vested restricted stock. We expect a normalized run rate of 25.0% for the remainder of the year.

    Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $1.7 million, or 13.10% from the comparable 2024 quarter due to improvement of the Company’s net interest margin to 2.68% in the 2025 quarter from 2.41% in the comparable 2024 quarter. The yield on interest earning assets decreased to 6.01% in the 2025 quarter from 6.03% in the comparable 2024 quarter, a decrease of 2 basis points that was partially offset by a 32 basis point decrease in the cost of interest-bearing liabilities to 4.01% in 2025 from 4.33% in the first quarter of 2024. Net interest income on a linked quarter basis increased $0.8 million or 5.95%, due to a 15 basis point increase in net interest margin resulting from a 23 basis point decrease in cost of interest-bearing liabilities, partially offset by a 5 basis point decrease on yield on interest earning assets. The increase in the net interest margin was a result of the late 2024 reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

    Michael P. Puorro, Chairman and Chief Executive Officer, commented on the Company’s quarterly results: “We are pleased with our first quarter performance which reflected sizable improvements in Net Interest Income and Net Interest Margin that drove stronger adjusted ROTE and ROA for the period. Specifically, NII increased from $13.8 million to $14.6 million and NIM from 2.53% to 2.68%, resulting in adjusted ROTE of 9.27% and ROA of 0.73%, confirming a trend away from the restrictive environment of the last couple of years. Building on this positive momentum were improved credit metrics and the completion of our core banking system conversion, a significant achievement that is expected to deliver tangible operational efficiencies and customer benefits while enhancing our commitment to digital banking. In addition to the core banking system conversion, we recently announced our new logo which is representative of our focus on innovation and a digital forward strategy. Moving forward, we remain committed to disciplined development of our core business verticals which include niche residential, SBA and C&I lending. Further, we look forward to a more favorable banking environment and the upcoming potential qualification for the Russell 2000, which should increase institutional ownership and enhance the liquidity of our stock.”

    Balance Sheet Highlights

    Total assets at March 31, 2025 were $2.29 billion versus $2.31 billion at December 31, 2024. Total securities available for sale at March 31, 2025 were $93.2 million, an increase of $9.4 million from December 31, 2024, primarily driven by growth in collateralized mortgage obligations, collateralized loan obligations and corporate bonds.

    Total deposits at March 31, 2025 were $1.94 billion, a decrease of $17.8 million or 0.91%, compared to $1.95 billion at December 31, 2024. Total deposits increased $19.2 million or 1.00% from March 31, 2024. Demand deposits increased $12.6 million or 6.23% from March 31, 2024. Our loan to deposit ratio improved to 101% at March 31, 2025 from 102% at December 31, 2024.

    The Company had $517.1 million in total municipal deposits at March 31, 2025, at a weighted average rate of 3.71% versus $509.3 million at a weighted average rate of 3.72% at December 31, 2024 and $576.3 million at a weighted average rate of 4.65% at March 31, 2024. The Company’s municipal deposit program is built on long-standing relationships developed in the local marketplace. This core deposit business will continue to provide a stable source of funding for the Company’s lending products at costs lower than those of consumer deposits and market-based borrowings. The Company continues to broaden its municipal deposit base and currently services 40 customer relationships.

    Total borrowings at March 31, 2025 were $107.8 million, with a weighted average rate and term of 4.11% and 20 months, respectively. At March 31, 2025 and December 31, 2024, the Company had $107.8 million of term FHLB advances outstanding. The Company had no FHLB overnight borrowings outstanding at March 31, 2025 and December 31, 2024. The Company had no borrowings outstanding under lines of credit with correspondent banks at March 31, 2025 and December 31, 2024.

    Stockholders’ equity was $196.6 million at both March 31, 2025 and December 31, 2024. Retained earnings increased by $0.8 million due primarily to net income of $1.5 million for the quarter ended March 31, 2025, which was offset by $0.7 million of dividends declared. The accumulated other comprehensive loss at March 31, 2025 was 0.71% of total equity and was comprised of a $0.9 million after tax net unrealized loss on the investment portfolio and a $0.5 million after tax net unrealized loss on derivatives. Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.

    Loan Portfolio

    For the three months ended March 31, 2025, the Bank’s loan portfolio decreased $24.9 million to $1.96 billion from December 31, 2024. The decrease resulted primarily from the ongoing management of our commercial real estate and multifamily loan concentrations. At March 31, 2025, the Company’s residential loan portfolio (including home equity) amounted to $733.6 million, with an average loan balance of $486 thousand and a weighted average loan-to-value ratio of 57%. Commercial real estate (including construction) and multifamily loans totaled $1.06 billion at March 31, 2025, with an average loan balance of $1.5 million and a weighted average loan-to-value ratio of 59%. As will be discussed below, approximately 37% of the multifamily portfolio is subject to rent regulation. The Company’s commercial real estate concentration ratio continues to improve, decreasing to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024, with loans secured by office space accounting for 2.23% of the total loan portfolio and totaling $43.8 million at March 31, 2025. The Company’s loan pipeline with executed term sheets at March 31, 2025 is approximately $255.0 million, with approximately 92% being niche-residential, conventional C&I and SBA lending opportunities.

    The Bank remains focused on expanding its core verticals and continues to originate loans for its portfolio and for sale in the secondary market under its residential flow origination program. Of the $48.8 million in closed residential loans originated in the quarter ended March 31, 2025, $27.6 million were originated for the Bank’s portfolio and reflected a weighted average yield of 6.64% before origination and other fees, which average 50-100 bps per loan, and a weighted average LTV of 58%. The remaining $21.2 million of closed loans were originated for sale in the secondary market. During the quarter ended March 31, 2025, the Company sold $18.3 million of residential loans under its flow origination program and recorded gains on sale of loans held-for-sale of $0.4 million with a premium of 2.38%.

    During the quarters ended March 31, 2025 and 2024, the Company sold approximately $23.4 million and $26.7 million, respectively, in government guaranteed SBA loans and recorded gains on sale of loans held-for-sale of $1.9 million and $2.5 million, respectively. SBA loan originations and gains on sale were lower due to a combination of factors, including: lower than expected loan sale premiums due, we believe, to first quarter market turmoil; delays in loan closings resulting from the impact of administrative changes to SBA Standard Operating Procedures; and the inability of certain loans to close because of delays by state regulatory agencies in issuing permit approvals to certain borrowers. As we enter the second quarter of 2025, we expect to navigate these factors and to increase the volume of origination and loan sale activity throughout the year. The Bank concluded the first quarter of 2025 with C&I loan originations of approximately $16.8 million. Based on its existing pipeline, the Bank expects C&I lending and deposit activity to grow as the year progresses.

    Commercial Real Estate Statistics

    A significant portion of the Bank’s commercial real estate portfolio consists of loans secured by Multi-Family and CRE-Investor owned real estate that are predominantly subject to fixed interest rates for an initial period of 5 years. The Bank’s exposure to Land/Construction loans is minor at $8.0 million, all at floating interest rates. As shown below, 31% of the loan balances in these combined portfolios will either have a rate reset or mature in 2025 and 2026, with another 56% with rate resets or maturing in 2027.

    Multi-Family Market Rent Portfolio Fixed Rate Reset/Maturity Schedule   Multi-Family Stabilized Rent Portfolio Fixed Rate Reset/Maturity Schedule
    Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate   Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate
                                                     
    2025   10   $ 16,321   $ 1,632   4.45 %   2025   10   $ 17,025   $ 1,703   5.03 %
    2026   36     117,886     3,275   3.66 %   2026   20     42,549     2,127   3.67 %
    2027   70     174,601     2,494   4.29 %   2027   53     123,668     2,333   4.22 %
    2028   16     21,382     1,336   6.20 %   2028   13     10,914     839   7.17 %
    2029   6     4,929     821   7.70 %   2029   4     4,328     1,082   6.38 %
    2030+   2     171     85   6.00 %   2030+   4     1,129     282   6.02 %
    Fixed Rate   140     335,290     2,395   4.61 %   Fixed Rate   104     199,613     1,919   4.39 %
    Floating Rate   2     749     375   9.50 %   Floating Rate             %
    Total   142   $ 336,039   $ 2,366   4.26 %   Total   104   $ 199,613   $ 1,919   4.39 %
    CRE Investor Portfolio Fixed Rate Reset/Maturity Schedule
    Calendar Period   # Loans   Total O/S ($000’s omitted)   Avg O/S ($000’s omitted)   Avg Interest Rate
                           
    2025   29   $ 23,092   $ 796   6.13 %
    2026   33     41,668     1,263   4.84 %
    2027   90     162,557     1,806   5.03 %
    2028   30     31,763     1,059   6.64 %
    2029   4     2,353     588   7.03 %
    2030+   13     7,967     613   6.49 %
    Fixed Rate   199     269,400     1,354   5.35 %
    Floating Rate   5     19,074     3,815   8.73 %
    Total CRE-Inv.   204   $ 288,474   $ 1,414   5.57 %

    Rental breakdown of Multi-Family portfolio

    The table below segments our portfolio of loans secured by Multi-Family properties based on rental terms and location. As shown below, 63% of the combined portfolio is secured by properties subject to free market rental terms, which is the dominant tenant type. Both the Market Rent and Stabilized Rent segments of our portfolio present very similar average borrower profiles. The portfolio is primarily located in the New York City boroughs of Brooklyn, the Bronx and Queens.

    Multi-Family Loan Portfolio – Loans by Rent Type
    Rent Type   # of Notes   Outstanding Loan Balance   % of Total Multi-Family   Avg Loan Size   LTV   Current DSCR   Avg # of Units  
            ($000’s omitted)         ($000’s omitted)                
                                           
    Market   142   $ 336,039   63 % $ 2,366   61.5 % 1.41   11  
    Location                                      
    Manhattan   7   $ 10,299   2 % $ 1,471   49.6 % 1.88   14  
    Other NYC   93   $ 244,552   46 % $ 2,630   61.2 % 1.40   9  
    Outside NYC   42   $ 81,188   15 % $ 1,933   64.2 % 1.36   13  
                                           
    Stabilized   104   $ 199,613   37 % $ 1,919   62.1 % 1.42   12  
    Location                                      
    Manhattan   6   $ 8,843   2 % $ 1,474   44.2 % 1.58   17  
    Other NYC   86   $ 171,852   32 % $ 1,998   62.8 % 1.41   11  
    Outside NYC   12   $ 18,918   3 % $ 1,576   64.1 % 1.49   16  


    Office Property Exposure

    The Bank’s exposure to the Office market is minor. Loans secured by office space accounted for 2.23% of the total loan portfolio with a total balance of $43.8 million, of which less than 1% is located in Manhattan. The pool has a 2.32x weighted average DSCR, a 53% weighted average LTV and less than $353,000 of exposure in Manhattan.

    Asset Quality and Allowance for Credit Losses

    At March 31, 2025, the Bank’s asset quality metrics improved with non-performing loans totaling $11.7 million compared to non-performing loans of $16.4 million at December 31, 2024, a decrease of $4.7 million. This decrease resulted primarily from the contracted sale of non-performing loans totaling $5.0 million, net of a $0.3 million charge-off, during the quarter. At March 31, 2025 non-performing loans were 0.60% of total loans outstanding versus 0.82% at December 31, 2024.

    During the first quarter of 2025, the Bank recorded a provision for credit losses expense of $0.6 million. The March 31, 2025 allowance for credit losses was $22.9 million versus $22.8 million at December 31, 2024. The allowance for credit losses as a percentage of total loans was 1.17% at March 31, 2025 and 1.15% at December 31, 2024.

    Net Interest Margin

    The Bank’s net interest margin increased to 2.68% for the quarter ended March 31, 2025 compared to 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024 due to the recent reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

    About Hanover Community Bank and Hanover Bancorp, Inc.

    Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover offers a complete suite of consumer, commercial, and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey, with a new branch opening in Port Jefferson, New York in mid 2025.

    Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at www.hanoverbank.com.

    Non-GAAP Disclosure

    This discussion, including the financial statements attached thereto, includes non-GAAP financial measures which include the Company’s adjusted net income, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, tangible common equity (“TCE”) ratio, TCE, tangible assets, tangible book value per share, return on average tangible equity and efficiency ratio. A non-GAAP financial measure is a numerical measure of historical or future performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company’s operating results and trends in addition to the results measured in accordance with GAAP, and provides greater comparability across time periods. While management uses non-GAAP financial measures in its analysis of the Company’s performance, this information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP. The Company’s non-GAAP financial measures may not be comparable to similarly titled measures used by other financial institutions.

    With respect to the calculations of and reconciliations of adjusted net income, TCE, tangible assets, TCE ratio and tangible book value per share, reconciliations to the most comparable U.S. GAAP measures are provided in the tables that follow.

    Forward-Looking Statements

    This release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “should,” “plan,” “estimate,” “predict,” “continue,” and “potential” or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hanover Bancorp, Inc. Any or all of the forward-looking statements in this release and in any other public statements made by Hanover Bancorp, Inc. may turn out to be incorrect. They can be affected by inaccurate assumptions that Hanover Bancorp, Inc. might make or by known or unknown risks and uncertainties, including those discussed in our Annual Report on Form 10-K under Item 1A – Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission. Further, the adverse effect of health emergencies or natural disasters on the Company, its customers, and the communities where it operates may adversely affect the Company’s business, results of operations and financial condition for an indefinite period of time. Consequently, no forward-looking statement can be guaranteed. Hanover Bancorp, Inc. does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

    Investor and Press Contact:
    Lance P. Burke
    Chief Financial Officer
    (516) 548-8500

                 
    HANOVER BANCORP, INC.            
    STATEMENTS OF CONDITION (unaudited)            
    (dollars in thousands)            
                   
                   
        March 31,   December 31,   March 31,  
          2025       2024       2024    
    Assets              
    Cash and cash equivalents $ 160,234     $ 162,857     $ 136,481    
    Securities-available for sale, at fair value   93,197       83,755       92,709    
    Investments-held to maturity   3,671       3,758       3,973    
    Loans held for sale   16,306       12,404       7,641    
                   
    Loans, net of deferred loan fees and costs   1,960,674       1,985,524       2,005,515    
    Less: allowance for credit losses   (22,925 )     (22,779 )     (19,873 )  
    Loans, net   1,937,749       1,962,745       1,985,642    
                   
    Goodwill     19,168       19,168       19,168    
    Premises & fixed assets   14,511       15,337       15,648    
    Operating lease assets   8,484       8,337       9,336    
    Other assets   38,207       43,749       36,910    
      Assets $ 2,291,527     $ 2,312,110     $ 2,307,508    
                   
    Liabilities and stockholders’ equity            
    Core deposits $ 1,418,209     $ 1,456,513     $ 1,453,035    
    Time deposits   518,229       497,770       464,227    
    Total deposits   1,936,438       1,954,283       1,917,262    
                   
    Borrowings   107,805       107,805       148,953    
    Subordinated debentures   24,702       24,689       24,648    
    Operating lease liabilities   9,144       9,025       10,039    
    Other liabilities   16,795       19,670       17,063    
      Liabilities   2,094,884       2,115,472       2,117,965    
                   
    Stockholders’ equity   196,643       196,638       189,543    
      Liabilities and stockholders’ equity $ 2,291,527     $ 2,312,110     $ 2,307,508    
                   
             
    HANOVER BANCORP, INC.        
    CONSOLIDATED STATEMENTS OF INCOME (unaudited)      
    (dollars in thousands, except per share data)        
             
      Three Months Ended  
      3/31/2025   3/31/2024  
             
    Interest income $ 32,837   $ 32,432  
    Interest expense   18,208     19,497  
    Net interest income   14,629     12,935  
    Provision for credit losses   600     300  
    Net interest income after provision for credit losses   14,029     12,635  
             
    Loan servicing and fee income   1,081     913  
    Service charges on deposit accounts   117     96  
    Gain on sale of loans held-for-sale   2,352     2,506  
    Other operating income   182     61  
    Non-interest income   3,732     3,576  
             
    Compensation and benefits   7,232     5,562  
    Conversion expenses   3,180      
    Occupancy and equipment   1,836     1,770  
    Data processing   593     518  
    Professional fees   787     818  
    Federal deposit insurance premiums   337     318  
    Other operating expenses   2,031     1,818  
    Non-interest expense   15,996     10,804  
             
    Income before income taxes   1,765     5,407  
    Income tax expense   244     1,346  
             
    Net income $ 1,521   $ 4,061  
             
    Earnings per share (“EPS”):(1)        
    Basic $ 0.20   $ 0.55  
    Diluted $ 0.20   $ 0.55  
             
    Average shares outstanding for basic EPS (1)(2)   7,463,537     7,376,227  
    Average shares outstanding for diluted EPS (1)(2)   7,469,489     7,420,926  
             
    (1) Calculation includes common stock and Series A preferred stock.      
    (2) Average shares outstanding before subtracting participating securities.      
             
                         
    HANOVER BANCORP, INC.                    
    CONSOLIDATED STATEMENTS OF INCOME (unaudited)                  
    QUARTERLY TREND                    
    (dollars in thousands, except per share data)                    
                         
      Three Months Ended  
      3/31/2025   12/31/2024   9/30/2024   6/30/2024   3/31/2024  
                         
    Interest income $ 32,837   $ 33,057   $ 34,113   $ 33,420   $ 32,432  
    Interest expense   18,208     19,249     21,011     20,173     19,497  
    Net interest income   14,629     13,808     13,102     13,247     12,935  
    Provision for credit losses   600     400     200     4,040     300  
    Net interest income after provision for credit losses   14,029     13,408     12,902     9,207     12,635  
                         
    Loan servicing and fee income   1,081     981     960     836     913  
    Service charges on deposit accounts   117     136     123     114     96  
    Gain on sale of loans held-for-sale   2,352     3,014     2,834     2,586     2,506  
    Gain on sale of investments       27         4      
    Other operating income   182     29     37     82     61  
    Non-interest income   3,732     4,187     3,954     3,622     3,576  
                         
    Compensation and benefits   7,232     6,699     6,840     6,499     5,562  
    Conversion expenses   3,180                  
    Occupancy and equipment   1,836     1,810     1,799     1,843     1,770  
    Data processing   593     536     547     495     518  
    Professional fees   787     782     762     717     818  
    Federal deposit insurance premiums   337     375     360     365     318  
    Other operating expenses   2,031     2,198     1,930     1,751     1,818  
    Non-interest expense   15,996     12,400     12,238     11,670     10,804  
                         
    Income before income taxes   1,765     5,195     4,618     1,159     5,407  
    Income tax expense   244     1,293     1,079     315     1,346  
                         
    Net income $ 1,521   $ 3,902   $ 3,539   $ 844   $ 4,061  
                         
    Earnings per share (“EPS”):(1)                    
    Basic $ 0.20   $ 0.53   $ 0.48   $ 0.11   $ 0.55  
    Diluted $ 0.20   $ 0.52   $ 0.48   $ 0.11   $ 0.55  
                         
    Average shares outstanding for basic EPS (1)(2)   7,463,537     7,427,583     7,411,064     7,399,816     7,376,227  
    Average shares outstanding for diluted EPS (1)(2)   7,469,489     7,456,471     7,436,068     7,449,110     7,420,926  
                         
    (1) Calculation includes common stock and Series A preferred stock.
    (2) Average shares outstanding before subtracting participating securities.
                         
             
    HANOVER BANCORP, INC.        
    CONSOLIDATED NON-GAAP FINANCIAL INFORMATION (1)(unaudited)  
    (dollars in thousands, except per share data)        
             
      Three Months Ended  
      3/31/2025   3/31/2024  
             
    ADJUSTED NET INCOME:        
    Net income, as reported $ 1,521     $ 4,061    
    Adjustments:        
    Conversion expenses   3,180          
    Total adjustments, before income taxes   3,180          
    Adjustment for reported effective income tax rate   608          
    Total adjustments, after income taxes   2,572          
    Adjusted net income $ 4,093     $ 4,061    
    Basic earnings per share – adjusted $ 0.55     $ 0.55    
    Diluted earnings per share – adjusted $ 0.55     $ 0.55    
             
    ADJUSTED OPERATING EFFICIENCY RATIO:        
    Operating efficiency ratio, as reported   87.12 %     65.44 %  
    Adjustments:        
    Conversion expenses   -17.32 %     0.00 %  
    Adjusted operating efficiency ratio   69.80 %     65.44 %  
             
    ADJUSTED RETURN ON AVERAGE ASSETS   0.73 %     0.74 %  
    ADJUSTED RETURN ON AVERAGE EQUITY   8.36 %     8.70 %  
    ADJUSTED RETURN ON AVERAGE TANGIBLE EQUITY   9.27 %     9.71 %  
             
    (1) A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.
             
             
    HANOVER BANCORP, INC.        
    SELECTED FINANCIAL DATA (unaudited)      
    (dollars in thousands)        
             
             
      Three Months Ended  
      3/31/2025   3/31/2024  
    Profitability:        
    Return on average assets   0.27 %     0.74 %  
    Return on average equity (1)   3.11 %     8.70 %  
    Return on average tangible equity (1)   3.45 %     9.71 %  
    Pre-provision net revenue to average assets   0.42 %     1.03 %  
    Yield on average interest-earning assets   6.01 %     6.03 %  
    Cost of average interest-bearing liabilities   4.01 %     4.33 %  
    Net interest rate spread (2)   2.00 %     1.70 %  
    Net interest margin (3)   2.68 %     2.41 %  
    Non-interest expense to average assets   2.85 %     1.96 %  
    Operating efficiency ratio (4)   87.12 %     65.44 %  
             
    Average balances:        
    Interest-earning assets $ 2,217,107     $ 2,162,835    
    Interest-bearing liabilities   1,842,073       1,810,397    
    Loans   1,989,796       1,984,075    
    Deposits   1,919,436       1,842,642    
    Borrowings   133,665       162,427    
             
             
    (1) Includes common stock and Series A preferred stock.      
    (2) Represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
    (3) Represents net interest income divided by average interest-earning assets.  
    (4) Represents non-interest expense divided by the sum of net interest income and non-interest income.
             
    HANOVER BANCORP, INC.                  
    SELECTED FINANCIAL DATA (unaudited)                  
    (dollars in thousands, except share and per share data)                
                       
      At or For the Three Months Ended    
      3/31/2025   12/31/2024   9/30/2024   6/30/2024    
    Asset quality:                  
    Provision for credit losses – loans (1) $ 600   $ 400   $ 200   $ 3,850    
    Net (charge-offs)/recoveries   (454   (1,027   (438   (79  
    Allowance for credit losses   22,925     22,779     23,406     23,644    
    Allowance for credit losses to total loans (2)   1.17 %     1.15 %     1.17 %     1.17 %    
    Non-performing loans $ 11,697   $ 16,368   $ 15,365   $ 15,828    
    Non-performing loans/total loans   0.60 %     0.82 %     0.77 %     0.79 %    
    Non-performing loans/total assets   0.51 %     0.71 %     0.66 %     0.68 %    
    Allowance for credit losses/non-performing loans   195.99 %     139.17 %     152.33 %     149.38 %    
                       
    Capital (Bank only):                  
    Tier 1 Capital $ 201,925   $ 201,744   $ 198,196   $ 195,703    
    Tier 1 leverage ratio   8.95 %     9.13 %     8.85 %     8.89 %    
    Common equity tier 1 capital ratio   13.37 %     13.32 %     12.99 %     12.78 %    
    Tier 1 risk based capital ratio   13.37 %     13.32 %     12.99 %     12.78 %    
    Total risk based capital ratio   14.62 %     14.58 %     14.24 %     14.21 %    
                       
    Equity data:                  
    Shares outstanding (3)   7,503,731     7,427,127     7,428,366     7,402,163    
    Stockholders’ equity $ 196,643   $ 196,638   $ 192,339   $ 190,072    
    Book value per share (3)   26.21     26.48     25.89     25.68    
    Tangible common equity (3)   177,239     177,220     172,906     170,625    
    Tangible book value per share (3)   23.62     23.86     23.28     23.05    
    Tangible common equity (“TCE”) ratio (3)   7.80 %     7.73 %     7.49 %     7.38 %    
                       
    (1) Excludes $0, $0, $0 and $190 thousand provision for credit losses on unfunded commitments for the quarters ended 3/31/25, 12/31/24, 9/30/24 and 6/30/24, respectively.  
    (2) Calculation excludes loans held for sale.    
    (3) Includes common stock and Series A preferred stock.    
                       
                     
    HANOVER BANCORP, INC.                
    STATISTICAL SUMMARY                
    QUARTERLY TREND                
    (unaudited, dollars in thousands, except share data)              
                       
        3/31/2025   12/31/2024   9/30/2024   6/30/2024  
                       
    Loan distribution (1):                
    Residential mortgages $ 708,649     $ 702,832     $ 719,037     $ 733,040    
    Multifamily     535,429       550,570       557,634       562,503    
    Commercial real estate   520,808       536,288       529,948       549,725    
    Commercial & industrial   170,442       168,909       171,899       139,209    
    Home equity   24,914       26,422       26,825       27,992    
    Consumer     432       503       470       485    
                       
    Total loans $ 1,960,674     $ 1,985,524     $ 2,005,813     $ 2,012,954    
                       
    Sequential quarter growth rate   -1.25 %     -1.01 %     -0.35 %     0.37 %  
                       
    CRE concentration ratio   369 %     385 %     397 %     403 %  
                       
    Loans sold during the quarter $ 46,649     $ 53,499     $ 43,537     $ 35,302    
                       
    Funding distribution:                
    Demand   $ 215,569     $ 211,656     $ 206,327     $ 199,835    
    N.O.W.     698,297       692,890       621,880       661,998    
    Savings     46,275       48,885       53,024       44,821    
    Money market   458,068       503,082       572,213       571,170    
    Total core deposits   1,418,209       1,456,513       1,453,444       1,477,824    
    Time     518,229       497,770       504,100       464,105    
    Total deposits   1,936,438       1,954,283       1,957,544       1,941,929    
    Borrowings   107,805       107,805       125,805       148,953    
    Subordinated debentures   24,702       24,689       24,675       24,662    
                       
    Total funding sources $ 2,068,945     $ 2,086,777     $ 2,108,024     $ 2,115,544    
                       
    Sequential quarter growth rate – total deposits   -0.91 %     -0.17 %     0.80 %     1.29 %  
                       
    Period-end core deposits/total deposits ratio   73.24 %     74.53 %     74.25 %     76.10 %  
                       
    Period-end demand deposits/total deposits ratio   11.13 %     10.83 %     10.54 %     10.29 %  
                       
    (1) Excluding loans held for sale                
                       
                         
    HANOVER BANCORP, INC.                    
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (1)(unaudited)          
    (dollars in thousands, except share and per share amounts)              
                         
                         
      3/31/2025   12/31/2024   9/30/2024   6/30/2024   3/31/2024  
    Tangible common equity                    
    Total equity (2) $ 196,643     $ 196,638     $ 192,339     $ 190,072     $ 189,543    
    Less: goodwill   (19,168 )     (19,168 )     (19,168 )     (19,168 )     (19,168 )  
    Less: core deposit intangible   (236 )     (250 )     (265 )     (279 )     (295 )  
    Tangible common equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
                         
    Tangible common equity (“TCE”) ratio                  
    Tangible common equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
    Total assets   2,291,527       2,312,110       2,327,814       2,331,098       2,307,508    
    Less: goodwill   (19,168 )     (19,168 )     (19,168 )     (19,168 )     (19,168 )  
    Less: core deposit intangible   (236 )     (250 )     (265 )     (279 )     (295 )  
    Tangible assets $ 2,272,123     $ 2,292,692     $ 2,308,381     $ 2,311,651     $ 2,288,045    
    TCE ratio (2)   7.80 %     7.73 %     7.49 %     7.38 %     7.43 %  
                         
    Tangible book value per share                    
    Tangible equity (2) $ 177,239     $ 177,220     $ 172,906     $ 170,625     $ 170,080    
    Shares outstanding (2)   7,503,731       7,427,127       7,428,366       7,402,163       7,392,412    
    Tangible book value per share (2) $ 23.62     $ 23.86     $ 23.28     $ 23.05     $ 23.01    
                         
    (1) A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.  
                         
    (2) Includes common stock and Series A preferred stock.  
       
                             
    HANOVER BANCORP, INC.      
    NET INTEREST INCOME ANALYSIS      
    For the Three Months Ended March 31, 2025 and 2024      
    (unaudited, dollars in thousands)      
                             
                             
        2025       2024    
      Average       Average   Average       Average  
      Balance   Interest   Yield/Cost Balance   Interest   Yield/Cost  
                             
    Assets:                        
    Interest-earning assets:                        
    Loans $ 1,989,796   $ 29,984   6.11 %   $ 1,984,075   $ 29,737   6.03 %  
    Investment securities   85,839     1,186   5.60 %     94,845     1,457   6.18 %  
    Interest-earning cash   133,458     1,482   4.50 %     74,672     1,014   5.46 %  
    FHLB stock and other investments   8,014     185   9.36 %     9,243     224   9.75 %  
    Total interest-earning assets   2,217,107     32,837   6.01 %     2,162,835     32,432   6.03 %  
    Non interest-earning assets:                        
    Cash and due from banks   9,504             7,945          
    Other assets   49,695             49,941          
    Total assets $ 2,276,306           $ 2,220,721          
                             
    Liabilities and stockholders’ equity:                        
    Interest-bearing liabilities:                        
    Savings, N.O.W. and money market deposits $ 1,217,429   $ 11,455   3.82 %   $ 1,161,191   $ 12,933   4.48 %  
    Time deposits   490,979     5,320   4.39 %     486,779     4,962   4.10 %  
    Total savings and time deposits   1,708,408     16,775   3.98 %     1,647,970     17,895   4.37 %  
    Borrowings   108,972     1,107   4.12 %     137,788     1,276   3.72 %  
    Subordinated debentures   24,693     326   5.35 %     24,639     326   5.32 %  
    Total interest-bearing liabilities   1,842,073     18,208   4.01 %     1,810,397     19,497   4.33 %  
    Demand deposits   211,028             194,672          
    Other liabilities   24,726             27,959          
    Total liabilities   2,077,827             2,033,028          
    Stockholders’ equity   198,479             187,693          
    Total liabilities & stockholders’ equity $ 2,276,306           $ 2,220,721          
    Net interest rate spread         2.00 %           1.70 %  
    Net interest income/margin     $ 14,629   2.68 %       $ 12,935   2.41 %  
                             

    The MIL Network

  • MIL-OSI USA: Guatemalan alien illegally residing in the US and convicted of sexual battery indicted for fraudulently obtaining custody of an unaccompanied alien child in the United States, following ICE, joint law enforcement partner investigation

    Source: US Immigration and Customs Enforcement

    WASHINGTON — A federal grand jury indicted an illegal alien, April 17, for his alleged role in smuggling an unaccompanied alien child to the United States and for allegedly submitting a sponsorship application with false statements to the Department of Health and Human Services’ Office of Refugee Resettlement to gain custody of the minor after she entered the United States, following a U.S. Immigration and Customs Enforcement, FBI, investigation.

    “This case is a testament to ICE’s commitment to hold predators accountable for the harm they inflict on children,” said ICE acting Director Todd Lyons. “We are making every effort to ensure the safety of children released to sponsors across the United States. This is vital work and through their victim centered approach, ICE Homeland Security Investigations special agents are perfectly positioned to uncover any similar crimes by predatory sponsors.”

    “The prior administration’s border policies created an environment that enabled human trafficking and allowed bad actors to take advantage of at-risk children,” said Attorney General Pamela Bondi. “We are committed to protecting children from the scourge of human trafficking and will not rest until we deliver justice for those who suffered during the border crisis.”

    According to the indictment, Juan Tiul Xi, 26, a Guatemalan national illegally residing in Cleveland, illegally entered the United States in 2023. Thereafter, Tiul Xi allegedly encouraged and induced a 14-year-old Guatemalan girl to illegally enter the United States and to use the identity of Tiul Xi’s sister as her alias. As a UAC, the Guatemalan girl was placed in the care and custody of ORR. As alleged, Tiul Xi then falsely stated on documents submitted to ORR when he applied to sponsor and obtain custody of the girl that he was the UAC’s brother and that her alias was her actual name. ORR relied on Tiul Xi’s alleged false statements when, on or about Sept. 5, 2023, ORR released the UAC to Tiul Xi’s care.

    Tiul Xi is charged with one count of encouraging or inducing illegal entry for financial gain, one count of making a false, fictitious, or fraudulent statement, and one count of aggravated identity theft. If convicted, he faces a maximum penalty of 10 years in prison on the illegal entry count, a maximum penalty of five years in prison on the false statement count, and a mandatory consecutive penalty of two years in prison on the aggravated identity theft count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    “The Office of Refugee Resettlement is committed to continuing vital policy changes that promote the safety and welfare of unaccompanied alien children related into the Unites States,” said ORR Acting Director Angie M. Salazar. “We have significantly increased sponsor vetting with the wellbeing of the child at the core of our process. We hope that our commitment is evident by our collaboration with law enforcement to right previous wrongs and help bring these crimes to light.”

    The indictment is the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA, a partnership with the Department of Homeland Security, has been elevated and expanded by the Attorney General with a mandate to target cartels and other transnational criminal organizations to eliminate human smuggling and trafficking networks operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia that impact public safety and the security of our borders. JTFA currently comprises detailees from U.S. Attorneys’ Offices along the southwest border. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Money Laundering and Asset Recovery Section, the Office of Enforcement Operations, and the Office of International Affairs, among others. JTFA also relies on substantial law enforcement investment from DHS, FBI, DEA, and other partners. To date, JTFA’s work has resulted in more than 360 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 325 U.S. convictions; more than 270 significant jail sentences imposed; and forfeitures of substantial assets.

    The ICE HSI and FBI Cleveland field offices are jointly investigating with assistance from HSI’s Attaché team in Guatemala. Additionally, HSI’s Center for Countering Human Trafficking in Washington, D.C. and ORR have provided valuable assistance.

    Senior Trial Attorney Christian Levesque of the Criminal Division’s Human Rights and Special Prosecutions Section, Joint Task Force Alpha detailee/Trial Attorney Spencer M. Perry of the Criminal Division’s Fraud Section, and Acting U.S. Attorney Carol Skutnik and Criminal Division Chief Michael L. Collyer for the Northern District of Ohio are prosecuting the case, with assistance from HRSP Analyst/Latin America Specialist Joanna Crandall.

    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 other transnational criminal organizations, and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Project Safe Neighborhood.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    Individuals across the world can report suspicious criminal activity to the ICE Tip Line at 866-DHS-2-ICE, 24 hours a day, seven days a week. Highly trained specialists take reports from both the public and law enforcement agencies on more than 400 laws enforced by ICE.

    MIL OSI USA News

  • MIL-OSI: Check Point Software Reports 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, April 23, 2025 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the quarter ended March 31st, 2025.

    First Quarter 2025 Financial Highlights:

    • Cash Flow from Operations: $421 million, a 17 percent increase year over year
    • Calculated Billings* reached $553 million, a 7 percent increase year over year
    • Remaining Performance Obligation (RPO)**: $2.4 billion, an 11 percent increase year over year
    • Total Revenues: $638 million, a 7 percent increase year over year
    • Products & Licenses Revenues: $114 million, a 14 percent increase year over year
    • Security Subscriptions Revenues: $291 million, a 10 percent increase year over year
    • GAAP Operating Income: $196 million, representing 31 percent of total revenues
    • Non-GAAP Operating Income: $259 million, representing 41 percent of total revenues
    • GAAP EPS: $1.71, a 7 percent increase year over year
    • Non-GAAP EPS: $2.21, a 9 percent increase year over year

    “The first quarter results have provided a solid foundation to expand upon as we progress through the year.  Strong demand for our Quantum Force appliances, fueled by refresh cycles and new projects delivered double-digit year-over-year growth in products and licenses revenues,” stated CEO Nadav Zafrir. “The AI-driven Infinity Platform, featuring a Hybrid Mesh Architecture, continues to resonate with customers and delivered another quarter of impressive double-digit year-over-year growth.”

    For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see below “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

    Conference Call & Video Cast Information
    Check Point will host a conference call with the investment community on April 23, 2025, at 8:30 AM ET/5:30 AM PT. To listen to the live videocast or replay, please visit the website www.checkpoint.com/ir.

    Second Quarter 2025 Investor Conference Participation Schedule

    • Barclays Americas Select Franchise Conference 2025
      May 6, 2025, London, UK – Fireside Chat & 1×1’s
    • J.P. Morgan 53rd Annual Technology, Media, and Telecom Conference
      May 13-15, 2025, Boston, MA – Fireside Chat & 1×1’s
    • Oppenheimer 26th Annual Israeli Conference
      May 18, 2025, Tel Aviv, Israel – Fireside Chat & 1×1’s
    • TD Cowen 53rd Annual TMT Conference
      May 28, 2025, NY, NY – Fireside Chat & 1×1’s
    • Jefferies Software Summit
      May 29, 2025, Newport Coast, CA – Fireside Chat &1×1’s
    • Stifel 2025 Cross Sector 1×1 Conference
      June 3, 2025, Boston, MA – 1×1’s
    • Baird 2025 Global Consumer, Technology & Services Conference
      June 4, 2025, SF, CA – 1×1’s
    • Bank of America Merrill Lynch 2025 Global Technology Conference
      June 5, 2025, SF, CA – Fireside Chat & 1×1’s
    • TD Cowen 2nd Annual Corporate Access Day
      June 17, 2025, Toronto, Canada – 1×1’s

    Members of Check Point’s management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company’s web site. To hear these presentations and access the most updated information please visit the company’s web site at www.checkpoint.com/ir. The schedule is subject to change.

    Follow Check Point via:
    Twitter: http://www.twitter.com/checkpointsw
    Facebook: https://www.facebook.com/checkpointsoftware
    Blog: http://blog.checkpoint.com
    YouTube: http://www.youtube.com/user/CPGlobal
    LinkedIn: https://www.linkedin.com/company/check-point-software-technologies

    About Check Point Software Technologies Ltd.
    Check Point Software Technologies Ltd. (http://www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.

    Legal Notice Regarding Forward-Looking Statements
    This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, expectations regarding our products and solutions, and our participation in investor conferences and other events during the second quarter of 2025. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; appointments and departures of our executive officers; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

    Use of Non-GAAP Financial Information
    In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.

    * Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period.

    ** Remaining Performance Obligation (RPO) is a measure that represents the total value of non-cancellable contracted products and/or services that are yet to be recognized as Revenue as of March 31, 2025.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONSOLIDATED STATEMENT OF INCOME
     
    (Unaudited, in millions, except per share amounts)
     
      Three Months Ended
      March 31,
      2025   2024
    Revenues:      
    Products and licenses $ 114.1   $ 100.3
    Security subscriptions   290.6     263.4
    Total revenues from products and security subscriptions   404.7     363.7
    Software updates, maintenance and services   233.1     235.1
    Total revenues   637.8     598.8
           
    Operating expenses:      
    Cost of products and licenses   23.0     19.9
    Cost of security subscriptions   21.4     16.5
    Total cost of products and security subscriptions   44.4     36.4
    Cost of Software updates and maintenance   32.1     28.7
    Amortization of technology   7.6     5.8
    Total cost of revenues   84.1     70.9
           
    Research and development   102.1     99.2
    Selling and marketing   225.4     206.2
    General and administrative   30.7     28.6
    Total operating expenses   442.3     404.9
           
    Operating income   195.5     193.9
    Financial income, net   27.3     22.6
    Income before taxes on income   222.8     216.5
    Taxes on income   31.9     32.6
    Net income $ 190.9   $ 183.9
    Basic earnings per share $ 1.77   $ 1.64
    Number of shares used in computing basic earnings per share   107.9     112.3
    Diluted earnings per share $ 1.71   $ 1.60
    Number of shares used in computing diluted earnings per share   111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED FINANCIAL METRICS
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
        2025   2024
             
    Revenues   $ 637.8   $ 598.8
    Non-GAAP operating income     258.6     252.0
    Non-GAAP net income     246.2     234.5
    Non-GAAP diluted earnings per share   $ 2.21   $ 2.04
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
          2025       2024  
             
    GAAP operating income   $ 195.5     $ 193.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Non-GAAP operating income   $ 258.6     $ 252.0  
             
    GAAP net income   $ 190.9     $ 183.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Taxes on the above items (3)     (7.8 )     (7.5 )
    Non-GAAP net income   $ 246.2     $ 234.5  
             
    GAAP diluted earnings per share   $ 1.71     $ 1.60  
    Stock-based compensation (1)     0.37       0.36  
    Amortization of intangible assets and acquisition related expenses (2) (*)     0.2       0.15  
    Taxes on the above items (3)     (0.07 )     (0.07 )
    Non-GAAP diluted earnings per share   $ 2.21     $ 2.04  
             
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4       115.2  
             
    (1) Stock-based compensation:        
    Cost of products and licenses   $ 0.1     $ 0.1  
    Cost of software updates and maintenance     2.1       2.2  
    Research and development     14.7       14.7  
    Selling and marketing     14.6       15.9  
    General and administrative     9.7       8.7  
          41.2       41.6  
             
    (2) Amortization of intangible assets and acquisition related expenses (*):        
    Amortization of technology-cost of revenues     7.6       5.8  
    Research and development     1.5       1.6  
    Selling and marketing     12.8       9.1  
          21.9       16.5  

    (3) Taxes on the above items

        (7.8 )     (7.5 )
    Total, net   $ 55.3     $ 50.6  
     

    (*) While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired companies is reflected in the measures and the acquired assets contribute to revenue generation.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONDENSED CONSOLIDATED BALANCE SHEET DATA

    (In millions)

    ASSETS

     
          March 31,   December 31,
          2025
    (Unaudited)
      2024
    (Audited)
    Current assets:          
    Cash and cash equivalents     $ 450.2   $ 506.2
    Marketable securities and short-term deposits       1,012.0     865.7
    Trade receivables, net       399.7     728.8
    Prepaid expenses and other current assets       94.5     92.7
    Total current assets       1,956.4     2,193.4
               
    Long-term assets:          
    Marketable securities       1,469.8     1,411.9
    Property and equipment, net       83.0     80.8
    Deferred tax asset, net       80.6     74.7
    Goodwill and other intangible assets, net       1,877.9     1,897.1
    Other assets       90.2     96.6
    Total long-term assets       3,601.5     3,561.1
               
    Total assets     $ 5,557.9   $ 5,754.5
    LIABILITIES AND SHAREHOLDERS’ EQUITY
     
    Current liabilities:          
    Deferred revenues     $ 1,389.8     $ 1,471.3  
    Trade payables and other accrued liabilities       394.8       472.9  
    Total current liabilities       1,784.6       1,944.2  
               
    Long-term liabilities:          
    Long-term deferred revenues       525.6       529.0  
    Income tax accrual       467.4       459.6  
    Other long-term liabilities       31.8       32.3  
    Total long-term liabilities       1,024.8       1,020.9  
               
    Total liabilities       2,809.4       2,965.1  
               
    Shareholders’ equity:          
    Share capital       0.8       0.8  
    Additional paid-in capital       3,125.5       3,049.5  
    Treasury shares at cost       (14,579.6 )     (14,264.4 )
    Accumulated other comprehensive gain       (2.9 )     (10.3 )
    Retained earnings       14,204.7       14,013.8  
    Total shareholders’ equity       2,748.5       2,789.4  
    Total liabilities and shareholders’ equity     $ 5,557.9     $ 5,754.5  
    Total cash and cash equivalents, marketable securities, and short-term deposits     $ 2,932.0     $ 2,783.8  
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED CONSOLIDATED CASH FLOW DATA
     
    (Unaudited, in millions)
     
      Three Months Ended
      March 31,
        2025       2024  
    Cash flow from operating activities:      
    Net income $ 190.9     $ 183.9  
    Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation of property and equipment   5.2       7.3  
    Amortization of intangible assets   19.2       13.5  
    Stock-based compensation   41.2       41.6  
    Realized loss on marketable securities   0.1        
    Decrease in trade and other receivables, net   329.4       265.4  
    Decrease in deferred revenues, trade payables and other accrued liabilities   (142.1 )     (140.6 )
    Deferred income taxes, net   (22.8 )     (10.1 )
    Net cash provided by operating activities   421.1       361.0  
           
    Cash flow from investing activities:      
    Investment in property and equipment   (7.4 )     (6.5 )
    Net cash used in investing activities   (7.4 )     (6.5 )
           
    Cash flow from financing activities:      
    Proceeds from issuance of shares upon exercise of options   46.0       45.6  
    Purchase of treasury shares   (325.0 )     (325.0 )
    Payments related to shares withheld for taxes   (1.5 )     (1.1 )
    Net cash used in financing activities   (280.5 )     (280.5 )
           
    Unrealized gain on marketable securities, net   15.0       1.6  
           
    Increase in cash and cash equivalents, marketable securities, and short-term deposits   148.2       75.6  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the beginning of the period   2,783.8       2,959.7  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the end of the period $ 2,932.0     $ 3,035.3  

    The MIL Network

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q1-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1-25 Revenue of € 144.1 Million and Net Income of € 31.5 Million
    Orders of € 131.9 Million Up 8.2% vs. Q4-24

    DUIVEN, The Netherlands, April 23, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the first quarter ended March 31, 2025.

    Key Highlights

    • Revenue of € 144.1 million, down 6.1% vs. Q4-24 due primarily to lower shipments for high-end mobile applications. Vs. Q1-24, down 1.5% due to lower shipments for mobile and automotive applications partially offset by strong growth in hybrid bonding and other AI related computing applications
    • Orders of € 131.9 million up 8.2% vs. Q4-24 primarily due to increased bookings by Asian subcontractors for AI related data center applications. Up 3.3% vs. Q1-24 due to higher bookings for hybrid bonding and other advanced computing applications  
    • Gross margin of 63.6% decreased by 0.4 points vs. Q4-24 and 3.6 points vs. Q1-24 due primarily to a less favorable product mix and, to a lesser extent, adverse net forex influences
    • Net income of € 31.5 million decreased 46.9% vs. Q4-24 primarily due to the absence of an € 18.2 million net tax benefit recognized in Q4-24, lower revenue and higher consulting costs. Down 7.4% vs. Q1-24 primarily due to lower revenue and gross margins partially offset by an 8.9% decrease in operating expenses. Similarly, Besi’s net margin declined to 21.9% vs. 38.6% in Q4-24 and 23.2% in Q1-24
    • Ex share-based incentive compensation and tax benefits, Besi’s adjusted net income (net margin) was € 35.9 million (24.9%) in Q1-25 vs. € 43.2 million (28.2%) in Q4-24 and € 49.5 million (33.8%) in Q1-24
    • Net cash of € 159.4 million increased € 15.6 million, or 10.8%, vs. Q4-24

    Outlook   

    • Revenue expected to be flat (plus or minus 10%) vs. € 144.1 million reported in Q1-25
    • Gross margin expected to range between 62-64% vs. 63.6% realized in Q1-25
    • Operating expenses expected to decrease 0-10% vs. € 52.5 million in Q1-25
    (€ millions, except EPS) Q1-2025 Q4-2024 Δ Q1-2024 Δ
    Revenue 144.1 153.4 -6.1% 146.3 -1.5%
    Orders 131.9 121.9 +8.2% 127.7 +3.3%
    Gross Margin 63.6% 64.0% -0.4 67.2% -3.6
    Operating Income 39.3 50.6 -22.3% 40.7 -3.4%
    EBITDA 46.6 58.0 -19.7% 47.5 -1.9%
    Net Income* 31.5 59.3 -46.9% 34.0 -7.4%
    Net Margin* 21.9 38.6% -16.7 23.2% -1.3
    EPS (basic) 0.40 0.75 -46.7% 0.44 -9.1%
    EPS (diluted) 0.40 0.74 -45.9% 0.44 -9.1%
    Net Cash and Deposits 159.4 143.8 +10.8% 180.9 -11.9%

    * Excluding share-based compensation expense and an € 18.2 million net tax benefit recognized in Q4-24, Besi’s adjusted net income (net margin) would have been € 35.9 million (24.9%), € 43.2 million (28.2%) and € 49.5 million (33.8%) in Q1-25, Q4-24 and Q1-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported solid first quarter results and important new advanced packaging orders in a challenging market environment. Revenue of € 144.1 million was down 1.5% versus Q1-24 due to ongoing weakness in mobile and automotive end user markets partially offset by strong revenue growth from hybrid bonding and other AI related computing applications. In contrast, orders increased 3.3% versus Q1-24 and 8.2% versus Q4-24 due primarily to increased bookings by Asian subcontractors for AI related data center applications which more than offset weakness in mobile, automotive and Chinese end user markets.

    Of note, significant progress was made on Besi’s wafer level assembly agenda this quarter as we received hybrid bonding orders from two leading memory producers for HBM 4 applications as well as follow-on orders from a leading Asian foundry for logic applications. Further, important announcements were made by two leading semiconductor producers with respect to future hybrid bonding applications such as ASICs and co packaged optics. In addition, a leading US logic manufacturer successfully began production of AI related logic devices utilizing Besi’s hybrid bonders in integrated production lines.

    Besi’s profitability in Q1-25 remained at attractive levels despite ongoing weakness in mainstream assembly markets and expanded R&D investment in next generation assembly solutions for AI applications. Net income of € 31.5 million decreased 7.4% vs. Q1-24 primarily due to lower revenue and gross margins realized partially offset by an 8.9% decrease in operating expenses. Our gross margin has trended toward the lower end of our target range over the past three quarters due primarily to a less favorable product mix, particularly with respect to high-end smartphones, and net forex headwinds beginning in the second half of 2024 from adverse movements in some of our principal transaction currencies versus the euro. In addition, cash flow generation remains very positive with net cash at quarter end increasing 10.8% vs. Q4-24 to reach € 159.4 million.

    On April 14, Applied Materials announced a 9% ownership position in Besi. Besi and Applied Materials have been successfully collaborating since 2020 to co-develop the industry’s first fully integrated equipment solution for die-based hybrid bonding. The collaboration brings together Applied’s expertise in front-end wafer and chip processing with Besi’s leadership position in bonding accuracy and speed. We view their shareholding as a strategic, long-term investment and a further validation of our wafer level assembly technology and strategy.

    Our business development this year reflects the contrasting growth trends seen in the assembly equipment market between AI and mainstream applications. The timing and trajectory of a mainstream assembly upturn is more difficult to predict now given new tariff uncertainties. However, demand for advanced packaging for AI applications remains strong given upcoming new device introductions and use cases planned in the 2026-2028 time period. We continue to assess the potential impact of tariffs on Besi’s customers, supply chain and end user markets. For Q2-25, we forecast that revenue will be flat plus or minus 10% versus Q1-25 with gross margins in a range of 62%-64%. In addition, aggregate operating expenses are forecast to decrease 0-10% versus Q1-25 primarily due to a reduction in strategic consulting costs.”

    Share Repurchase Activity
    During the quarter, Besi repurchased approximately 187,000 of its ordinary shares at an average price of € 117.95 per share for a total of € 22.1 million. Cumulatively, as of March 31, 2025, a total of € 51.4 million has been purchased under the current € 100 million share repurchase plan at an average price of € 114.64 per share. As of March 31, 2025, Besi held approximately 2.0 million shares in treasury equal to 2.5% of its shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.
    Important Dates  
    •  Annual General Meeting of Shareholders April 23, 2025
    •  Investor Day/Amsterdam June 12, 2025
    •  Publication Q2/semi-annual results July 24, 2025
    •  Publication Q3/nine-month results October 23, 2025
    •  Publication Q4/full year results February 2026
       
    Dividend Information*  
    •  Proposed ex-dividend date April 25, 2025
    •  Proposed record date April 28, 2025
    •  Proposed payment of 2024 dividend Starting May 2, 2025
       

    * Subject to approval at Besi’s AGM on April 23, 2025

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance      
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
     
    (€ thousands, except share and per share data) Three Months Ended
    March 31,
    (unaudited)
      2025 2024
         
    Revenue 144,145 146,314
    Cost of sales 52,423 48,043
         
    Gross profit 91,722 98,271
         
    Selling, general and administrative expenses 32,958 39,641
    Research and development expenses 19,502 17,919
         
    Total operating expenses 52,460 57,560
         
    Operating income 39,262 40,711
         
    Financial expense, net 2,959 589
         
    Income before taxes 36,303 40,122
         
    Income tax expense 4,797 6,143
         
    Net income 31,506 33,979
         
    Net income per share – basic 0.40 0.44
    Net income per share – diluted 0.40 0.44
         
    Number of shares used in computing per share amounts:    
    – basic 79,228,071 77,181,326
    – diluted 1 81,522,177 82,106,146

    _____________________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) March
    31, 2025
    (unaudited)
    December
    31, 2024
    (audited)
    ASSETS    
         
    Cash and cash equivalents 405,736 342,319
    Deposits 280,000 330,000
    Trade receivables 170,440 181,862
    Inventories 103,836 103,285
    Other current assets 46,099 40,927
         
    Total current assets 1,006,111 998,393
         
    Property, plant and equipment 42,868 44,773
    Right of use assets 15,161 15,726
    Goodwill 45,610 46,010
    Other intangible assets 98,622 96,677
    Deferred tax assets 29,240 31,567
    Other non-current assets 1,347 1,330
         
    Total non-current assets 232,848 236,083
         
    Total assets 1,238,959 1,234,476
         
         
         
    Bank overdraft 840 776
    Current portion of long-term debt 2,042
    Trade payables 46,598 52,630
    Other current liabilities 111,170 111,531
         
    Total current liabilities 158,608 166,979
         
    Long-term debt 525,493 525,653
    Lease liabilities 11,770 12,350
    Deferred tax liabilities 10,416 10,320
    Other non-current liabilities 19,328 17,910
         
    Total non-current liabilities 567,007 566,233
         
    Total equity 513,344 501,264
         
    Total liabilities and equity 1,238,959 1,234,476
    Consolidated Cash Flow Statements
     
    (€ thousands) Three Months Ended March 31,
    (unaudited)
     
      2025   2024  
         
    Cash flows from operating activities:    
         
    Income before income tax 36,303   40,122  
         
    Depreciation and amortization 7,307   6,813  
    Share based payment expense 4,441   16,900  
    Financial expense, net 2,959   589  
         
    Changes in working capital (2,113 ) (3,251 )
    Interest (paid) received (2,887 ) 1,169  
    Income tax (paid) received (1,575 ) (2,089 )
         
    Net cash provided by operating activities 44,435   60,253  
         
    Cash flows from investing activities:    
    Capital expenditures (1,733 ) (5,650 )
    Capitalized development expenses (6,737 ) (4,663 )
    Repayments of (investments in) deposits 50,000   10,000  
         
    Net cash provided by (used in) investing activities 41,530   (313 )
         
    Cash flows from financing activities:    
    Proceeds from bank lines of credit 64    
    Payments of lease liabilities (1,114 ) (1,043 )
    Purchase of treasury shares (22,064 ) (14,779 )
         
    Net cash provided by (used in) financing activities (23,114 ) (15,822 )
         
    Net increase (decrease) in cash and cash equivalents 62,851   44,118  
    Effect of changes in exchange rates on cash and cash equivalents 566   (542 )
    Cash and cash equivalents at beginning of the period 342,319   188,477  
         
    Cash and cash equivalents at end of the period 405,736   232,053  
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
     
    REVENUE Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 40.5   28 % 42.8   28 % 45.5   29 % 57.5   38 % 58.5   40 %
    Asia Pacific (excl. China) 56.3   39 % 53.5   35 % 51.6   33 % 54.1   36 % 43.6   30 %
    EU / USA / Other 47.3   33 % 57.1   37 % 59.5   38 % 39.6   26 % 44.2   30 %
                         
    Total 144.1   100 % 153.4   100 % 156.6   100 % 151.2   100 % 146.3   100 %
                         
    ORDERS Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 39.7   30 % 40.4   33 % 45.4   30 % 43.3   23 % 51.1   40 %
    Asia Pacific (excl. China) 51.7   39 % 38.8   32 % 69.3   46 % 72.0   39 % 45.0   35 %
    EU / USA / Other 40.5   31 % 42.7   35 % 37.1   24 % 69.9   38 % 31.6   25 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    Per customer type:                    
    IDM 48.1   36 % 61.2   50 % 84.5   56 % 122.4   66 % 53.5   42 %
    Foundries/Subcontractors 83.8   64 % 60.7   50 % 67.3   44 % 62.8   34 % 74.2   58 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    HEADCOUNT Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                         
    Fixed staff (FTE) 1,820   88 % 1,812   93 % 1,807   87 % 1,783   86 % 1,760   88 %
    Temporary staff (FTE) 251   12 % 134   7 % 271   13 % 279   14 % 236   12 %
                         
    Total 2,071   100 % 1,946   100 % 2,078   100 % 2,062   100 % 1,996   100 %
                         
    OTHER FINANCIAL DATA Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Gross profit 91.7   63.6 % 98.2   64.0 % 101.2   64.7 % 98.3   65.0 % 98.3   67.2 %
                         
                         
    Selling, general and admin expenses:                    
    As reported 33.0   22.9 % 28.6   18.6 % 27.3   17.4 % 30.5   20.2 % 39.6   27.1 %
    Share-based compensation expense (4.4 ) -3.1 % (2.9 ) -1.8 % (3.4 ) -2.1 % (6.9 ) -4.6 % (16.9 ) -11.6 %
                         
    SG&A expenses as adjusted 28.6   19.8 % 25.7   16.8 % 23.9   15.3 % 23.6   15.6 % 22.7   15.5 %
                         
                         
    Research and development expenses:                    
    As reported 19.5   13.5 % 19.0   12.4 % 18.9   12.1 % 18.5   12.2 % 17.9   12.2 %
    Capitalization of R&D charges 6.7   4.6 % 5.4   3.5 % 4.4   2.8 % 4.9   3.2 % 4.7   3.2 %
    Amortization of intangibles (3.7 ) -2.5 % (3.9 ) -2.5 % (3.9 ) -2.5 % (3.6 ) -2.3 % (3.6 ) -2.4 %
                         
    R&D expenses as adjusted 22.5   15.6 % 20.5   13.4 % 19.4   12.4 % 19.8   13.1 % 19.0   13.0 %
                         
                         
    Financial expense (income), net:                    
    Interest income (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net (0.1 )   0.9     (0.8 )   0.5     0.2    
                         
    Total 3.0     3.9     1.6     1.0     0.6    
                         
                         
    Operating income (as % of net sales) 39.3   27.2 % 50.6   33.0 % 55.1   35.2 % 49.3   32.6 % 40.7   27.8 %
                         
    EBITDA (as % of net sales) 46.6   32.3 % 58.0   37.8 % 62.4   39.8 % 56.2   37.2 % 47.5   32.5 %
                         
    Net income (as % of net sales) 31.5   21.9 % 59.3   38.6 % 46.8   29.9 % 41.9   27.7 % 34.0   23.2 %
                         
    Effective tax rate 13.2 %   -27.0 %   12.6 %   13.0 %   15.3 %  
                         
                         
    Income per share                    
    Basic 0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.74     0.59     0.53     0.44    
                         
    Average shares outstanding (basic) 79,228,071   79,402,192   79,630,787   79,281,533   77,181,326  
                         
    Shares repurchased                    
    Amount 22.1     22.4     27.8     14.8     14.8    
    Number of shares 186,869   198,450   230,807   105,042   101,049  
                         
                         
    Gross cash 685.7     672.3     637.4     257.2     447.1    
                         
    Net cash 159.4     143.8     110.7     74.4     180.9    
                         

    The MIL Network

  • MIL-OSI: Best Crypto Casinos 2025: JACKBIT | Rated Top Bitcoin Casino with NO KYC

    Source: GlobeNewswire (MIL-OSI)

    LARNACA, Cyprus, April 22, 2025 (GLOBE NEWSWIRE) — Crypto casino is booming in 2025, but not all platforms are equal. After reviewing dozens, JACKBIT Casino stands out for its top bonuses, newest games, fast sign-up, and no-KYC policy. In this guide, we cover its pros and cons, welcome offers, and what makes it a top crypto casino this year.

    >>CLAIM FREE SPINS & RAKEBACK BONUS at JACKBIT CASINO !<<

    Discover the Best Bitcoin Casino with Free Spins in 2025: JACKBIT Casino

    What makes JACKBIT stand out from the crowd? It’s more than just its sleek user interface or its massive library of 7,000+ casino games, or free spins. JACKBIT delivers a truly next-level crypto gambling experience—with

    instant deposits and withdrawals, zero KYC requirements, and a VIP system that pays back up to 30% in rakeback. As one of the leading bitcoin casinos, JACKBIT ensures user safety and a positive gambling experience, making it a top choice for responsible gamblers.

    Throw in $10,000 in weekly giveaways, 10,000 free spins every week, BTC 10 weekly cashback, and access to the most advanced crypto sportsbook on the market, and JACKBIT becomes more than just a casino—it’s a crypto-powered entertainment hub.

    CLICK HERE TO GET 30% RAKEBACK BONUS + 100 FREE SPINS + NO KYC

    Why We Chose JACKBIT as the Top Online Bitcoin Casino

    >Jackbit Bitcoin Casino Bonus (2025)

    JACKBIT is raising the bar in 2025 with one of the most rewarding crypto casino bonus lineups around:

    Welcome Bonus: 30% Rakeback + 100 Free Spins Wager Free + No KYC

    • 30% Rakeback on Losses
    • 100 Free Spins on First Deposit
    • No KYC Required to Play or Withdraw
    • $10,000 in Weekly Cash Giveaways
    • 10,000 Free Spins Given Away Weekly

    Whether you’re a casual player or a seasoned high roller, JACKBIT’s top bitcoin gambling sites promotions deliver real value. The rakeback system ensures you get up to 30% of your losses back, automatically credited to your account. It’s a rare feature that rewards consistent play and loyalty.

    Plus, the ongoing giveaways offer serious value, with thousands of dollars in cash and free spins distributed every single week. JACKBIT doesn’t just claim to be rewarding—it proves it, week after week.

    How to Join JACKBIT Bitcoin Casino: A Step-by-Step Guide

    Getting started with JACKBIT Casino is quick, easy, and completely hassle-free—even for players in the U.S. With no KYC requirements, you can dive into the action instantly, without uploading any personal documents. Follow these simple steps to join:

    Step 1: Visit the Official JACKBIT Bitcoin Casino

    Head straight to the JACKBIT crypto Casino sign-up page and click the “Sign Up” button in the top right corner to begin.

    Step 2: Set Up Your Account

    Fill out the short registration form with the following details:

    • Your email address
    • A strong password
    • Your country of residence
    • Preferred currency (crypto and fiat options available)

    Agree to the terms and conditions, then click “Create Account.”

    Step 3: Fund Your Account

    Once registered, go to the “Wallet” section to make your first deposit. JACKBIT supports a variety of payment methods like:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Tether (USDT)
    • And more payment methods

    Pro Tip: Don’t forget to claim your 30% Rakeback + 100 Free Spins welcome bonus with your first deposit!

    Step 4: Start Playing

    With your account funded, you’re ready to explore JACKBIT’s full range of games. Jump into:

    • Thousands of online slots
    • Live dealer tables
    • The industry-leading crypto sportsbook

    Whether you’re here to spin, bet, or win big—JACKBIT Bitcoin casino delivers from the very first click.

    Why Crypto Casinos

    Crypto casinos have revolutionized the online gaming industry by offering a unique and exciting way to play casino games using cryptocurrencies like Bitcoin, Ethereum, and Litecoin. These casinos provide a secure, transparent, and fair gaming experience, making them a popular choice among players. With the rise of crypto casinos, players can now enjoy a wide range of games, including slots, table games, live dealer games, and more, all from the comfort of their own homes.

    One of the key advantages of crypto casinos is the enhanced security they offer. Transactions made with cryptocurrencies are encrypted and decentralized, reducing the risk of fraud and ensuring that players’ funds are safe. Additionally, the use of blockchain technology allows for provably fair gaming, where players can verify the fairness of each game outcome.

    Crypto casinos also offer a level of anonymity that traditional online casinos cannot match. Players can register and play without providing personal information, thanks to the no KYC (Know Your Customer) requirements. This makes the gaming experience more private and secure.

    In summary, crypto casinos combine the thrill of online gaming with the benefits of cryptocurrency, providing a modern and innovative way to enjoy casino games. Whether you’re a fan of slots, table games, or live dealer games, crypto casinos offer a diverse and exciting gaming experience.

    Getting Started with Crypto Casinos

    Getting started with crypto casinos is easy and straightforward. To begin, players need to choose a reputable and trustworthy crypto casino that offers a wide range of games and accepts their preferred cryptocurrency. Once they have selected a casino, they can create an account and make a deposit using their cryptocurrency wallet.

    Many crypto casinos offer generous welcome bonuses, free spins, and other promotions to new players, making it an excellent way to start their gaming journey. These bonuses can significantly boost your initial bankroll, giving you more opportunities to explore the casino’s game offerings.

    Here’s a step-by-step guide to getting started with crypto casinos:

    1. Choose a Reputable Crypto Casino: Look for a casino with a good reputation, a wide range of games, and positive player reviews. Ensure that the casino supports your preferred cryptocurrency.
    2. Create an Account: Register by providing basic information such as your email address and creating a strong password. Some casinos may also ask for your country of residence and preferred currency.
    3. Make a Deposit: Go to the casino’s wallet section and make a deposit using your cryptocurrency wallet. Most crypto casinos support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Tether.
    4. Claim Your Welcome Bonus: Don’t forget to claim your welcome bonus, which may include free spins and deposit bonuses. These bonuses can give you a great start and increase your chances of winning.
    5. Start Playing: With your account funded and your bonus claimed, you’re ready to start playing. Explore the casino’s game library, which may include slots, table games, live dealer games, and more.

    By following these steps, you can easily get started with crypto casinos and enjoy a thrilling and rewarding gaming experience.

    Best Ways to Play at JACKBIT Bitcoin Casino

    Whether you’re a crypto-savvy high roller or a casual gamer looking for quick fun, JACKBIT bitcoin casino offers countless ways to play. A key promotional feature is the reload bonus, which encourages both new and returning players to keep engaging with the platform. Here’s how to maximize your gaming experience:

    JACKBIT provides various promotional offers, including a generous deposit bonus that matches a percentage of your initial deposit. This significantly increases your available gaming funds and enhances your overall engagement with the platform.

    1. Explore the 7,000+ casino games

    JACKBIT hosts one of the largest game collections online, offering a wide variety of crypto gambling games—including:

    • Top-tier slots from providers like Pragmatic Play, Nolimit City, and Hacksaw Gaming
    • Live casino tables with real dealers for blackjack, roulette, baccarat, and game shows
    • Bitcoin blackjack for enhanced player experience with faster transactions, lower fees, and added privacy
    • Crypto crash and instant games like Aviator and Plinko for fast-paced action

    Pro Tip: Use the search bar or filters to discover hidden gems and new releases.

    Playing games on JACKBIT allows users to engage with various types of online casino platforms, making it easy to enjoy activities like bingo and traditional slot games using cryptocurrencies.

    2. Take Advantage of Rakeback, Bonuses & Free Spins

    One of the most significant advantages of playing at crypto casinos is the opportunity to take advantage of rakeback, bonuses, and free spins. Rakeback is a reward program that gives players a percentage of their losses back, while bonuses and free spins provide players with extra funds to play with.

    Many crypto casinos offer generous welcome bonuses, reload bonuses, and other promotions to keep players engaged and entertained. For example, a welcome bonus might include a percentage match on your first deposit, along with free spins on popular slot games. Reload bonuses, on the other hand, offer additional funds on subsequent deposits, ensuring that players always have something to look forward to. Additionally, joining a VIP club can provide exclusive benefits such as unique bonuses, cashback deals, and personalized rewards for high-stakes players, elevating the gaming experience.

    Free spins are another popular promotion, giving players the chance to spin the reels of selected slot games without using their own funds. These spins can lead to significant winnings, making them a favorite among players.

    To make the most of these bonuses and promotions, it’s essential to read the terms and conditions carefully. Pay attention to wagering requirements, which dictate how many times you need to play through the bonus before you can withdraw any winnings. By understanding these requirements, you can maximize your gaming experience and increase your chances of winning.

    JACKBIT’s bonus system is built for longevity. Maximize your returns with:

    • Up to 30% rakeback on your gameplay losses
    • 100 free spins on your first deposit
    • $10,000 weekly giveaways
    • 10,000 free spins given away weekly

    These free spin offers are part of promotional incentives designed to enhance your gaming experience. It is important to understand the wagering requirement attached to these bonuses to fully benefit from them.

    DON’T JUST PLAY—GET REWARDED WHILE YOU PLAY

    3. Play Anytime, Anywhere

    JACKBIT is fully optimized for mobile gaming. Whether you’re using a phone or tablet, you’ll get:

    • Lightning-fast loading speeds
    • Smooth navigation
    • Full access to games, promotions, and payments

    Perfect for crypto betting on the go. Top Bitcoin gambling sites are also adapting to mobile trends, ensuring functionality and user-friendliness across devices.

    4. Dive Into the Crypto Sportsbook

    Bet on 140+ sports and thousands of live events every month with JACKBIT’s top-tier sportsbook, one of the leading betting sites offering a range of features for users. Highlights include:

    • 82,000+ live events monthly
    • 4,500+ betting types
    • 75,000+ pre-match events

    Great for sports bettors who want fast, crypto-friendly bets and a variety of betting options.

    5. Stay Anonymous, Stay in Control

    Thanks to no KYC requirements, JACKBIT bitcoin casino lets you play anonymously. Enjoy:

    • Instant registration
    • Fast deposits & instant withdrawals
    • Total control over your data

    Perfect for privacy-first players.

    Why JACKBIT Stands Out as the Best Crypto Casino with Minimum Deposits and Withdrawals

    JACKBIT has earned its reputation as the best crypto casino due to its extensive range of casino games, including live casino games, video poker games, and classic table games. Among bitcoin gambling platforms, JACKBIT bitcoin casino site stands out for offering an authentic casino experience with competitive odds, ensuring that players have the best chance to win big. The Bitcoin casino offers a user-friendly interface and seamless navigation, making it easy for players to access their favorite games and enjoy a thrilling gaming experience.

    The Bitcoin casino’s commitment to innovation is evident in its incorporation of cutting-edge technology, providing players with a visually stunning and immersive gaming environment. Many Bitcoin casinos, including JACKBIT, offer regular promotions and bonuses, such as free spins and deposit bonuses, to keep the excitement alive and reward loyal players.

    JACKBIT Bitcoin Casino Pros & Cons

    Pros:

    • 30% Rakeback on All Bets (welcome bonus)
    • 100 Free Spins on First Deposit
    • $10,000 + 10,000 Free Spins Weekly
    • Best Crypto Sportsbook in 2025
    • 7,000+ Casino Games
    • No KYC Policy
    • Fast Crypto Withdrawals
    • Top VIP Program

    Cons:

    • Not available in some restricted countries (use a VPN for access)

    Accepted Payment Methods at Jackbit online casino

    Cryptocurrencies

    Jackbit online casino supports a wide array of cryptocurrencies for both deposits and withdrawals, including:​

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Tether (USDT)
    • Binance Coin (BNB)
    • USD Coin (USDC)
    • Tron (TRX)
    • Dogecoin (DOGE)
    • Litecoin (LTC)
    • Ripple (XRP)
    • Bitcoin Cash (BCH)
    • Monero (XMR)
    • Dash (DASH)
    • Solana (SOL)
    • Cardano (ADA)
    • Polygon (MATIC)
    • Shiba Inu (SHIB)
    • Chainlink (LINK)
    • Dai (DAI)
    • BUSD​

    These cryptocurrencies can be used for both deposits and withdrawals, providing flexibility for crypto enthusiasts. ​

    Traditional Payment Methods

    While Jackbit is primarily a crypto-focused platform, it also accepts Visa and Mastercard for deposits. However, withdrawals are typically processed through cryptocurrencies. ​

    Transaction Details

    • Deposit Processing Time: Instant for both crypto and card deposits.
    • Withdrawal Processing Time: Typically within 1 hour; however, in some cases, it may take up to one business day.
    • Minimum Deposit: Varies by cryptocurrency; for example, the minimum deposit is approximately $50.
    • Minimum Withdrawal: Depends on the selected cryptocurrency.
    • Withdrawal Limits: Up to €25,000 per week and €50,000 per month.
    • Fees: Jackbit does not charge fees for crypto deposits. ​

    ️ Verification Requirements

    Jackbit operates with a non-mandatory KYC policy, allowing players to deposit and play without immediate identity verification. However, for large withdrawals or if suspicious activity is detected, the casino may request verification documents. ​

    Currency Exchange

    For players preferring fiat currencies, Jackbit offers the option to purchase cryptocurrencies directly through the platform using Visa or Mastercard, facilitating easy conversion from EUR, USD, or CAD to your chosen crypto. ​

    Jackbit crypto Casino’s diverse payment options, swift transaction times, and user-friendly policies make it a convenient choice for both crypto enthusiasts and traditional players.

    Best Games at JACKBIT crypto Casino

    JACKBIT crypto Casino boasts a world-class collection of over 7,000 games—from high-volatility slots to immersive live dealer tables and crypto-exclusive titles. Whether you’re chasing big wins or just spinning for fun, here are the best games to try at JACKBIT:

    Top Online Slots

    If you’re into spinning reels, JACKBIT crypto casino delivers premium slots with stunning graphics, thrilling bonus features, and enticing progressive jackpots. Some of the fan favorites include:

    • Sweet Bonanza (Pragmatic Play) – Candy-themed chaos with tumbling wins and free spins.
    • Wanted Dead or a Wild (Hacksaw Gaming) – A wild-west, high-volatility slot with massive win potential.
    • Gates of Olympus (Pragmatic Play) – Multipliers rain from the gods in this legendary hit.
    • Book of Dead (Play’n GO) – A classic Egyptian-themed slot with big RTP and bonus rounds + 100 free spins available.
    • The Dog House Megaways (Pragmatic Play) – Cute pups, sticky wilds, and explosive payouts.
    • Jammin’ Jars (Push Gaming) – Funky fruit, cluster wins, and exciting bonus features.

    Pro Tip: Look for “Bonus Buy” slots to fast-track your way into free spins and features.

    Best Live Casino Games

    Powered by Evolution, Pragmatic Live, and other top providers, JACKBIT’s live casino gives you the real-deal Vegas vibe—without ever leaving your screen.

    • Lightning Roulette – A thrilling twist on classic roulette with huge multipliers.
    • Blackjack VIP – For high rollers who want fast-paced action and high limits.
    • Crazy Time & Monopoly Live – Game-show-style live games with massive multipliers and interactive fun.
    • Baccarat Squeeze – For fans of high-stakes drama and slow-reveal tension.

    All live dealer games are crypto-friendly and fully mobile-optimized.

    Crash & Instant Games

    For players who like fast-paced, high-risk thrills, JACKBIT offers instant and crash games that pay out in seconds:

    • Aviator – Watch the plane soar—cash out before it crashes!
    • Plinko – Drop the ball and hope for a big multiplier.
    • Dice & Mines – Simple yet addictive games with customizable risk.

    These games are perfect for crypto players looking to flip coins fast.

    Crypto Sportsbook Games

    If sports betting is your game, JACKBIT’s sportsbook is one of the most complete on the crypto scene:

    • 82,000+ live monthly events
    • 4,500+ bet types across 140+ sports
    • Esports, live stats, and instant crypto payouts

    Great for betting on everything from Premier League to CS:GO.

    Crypto Casino Software Providers

    Crypto casino software providers play a crucial role in the online gaming industry by developing and supplying games to crypto casinos. Some of the top crypto casino software providers include Pragmatic Play, Evolution Gaming, and Hacksaw Gaming. These providers offer a wide range of games, including slots, table games, and live dealer games, all of which are designed to provide a fair and exciting gaming experience.

    Pragmatic Play is known for its high-quality slots and innovative game features. Their games often come with stunning graphics, engaging themes, and exciting bonus rounds. Popular titles from Pragmatic Play include “Sweet Bonanza” and “The Dog House Megaways.”

    Evolution Gaming is a leader in live dealer games, offering an authentic casino experience with real dealers and high-definition streaming. Their games include classics like blackjack, roulette, and baccarat, as well as unique game-show-style titles like “Crazy Time” and “Monopoly Live.”

    Hacksaw Gaming is another top provider, known for its creative and high-volatility slots. Games like “Wanted Dead or a Wild” offer thrilling gameplay and the potential for massive wins.

    These software providers ensure that crypto casinos offer a diverse and exciting gaming experience, with something for every type of player. Whether you prefer spinning the reels of a slot game or enjoying the thrill of live dealer games, these providers have you covered.

    A Leader in Bitcoin Gambling sites with Live Dealer Games, free spins & Customer Support

    As a leading crypto casino, JACKBIT stands out among BTC gambling sites by providing a seamless experience for both deposits and withdrawals as well as free spins. With instant deposits and withdrawals, players can enjoy their winnings without delay.

    The Bitcoin gambling sites also offer a generous welcome bonus, live casino games, and BTC 30% weekly cashback, making it an attractive choice for both new and seasoned players. JACKBIT crypto casino supports a wide variety of cryptocurrencies, including BTC and ETH, ensuring that players can easily manage their funds using their preferred digital currency rather than other bitcoin gambling sites.

    JACKBIT’s commitment to security is unwavering, with advanced encryption technology and robust security measures in place to protect players’ personal and financial information.

    Additionally, JACKBIT is KYC VPN friendly, allowing players to maintain anonymity and privacy while enjoying a seamless gaming experience without restrictions. The crypto gambling site’s dedication to providing a safe and secure gaming environment has earned it a loyal following among crypto enthusiasts.

    A Trusted Name in Bitcoin Online Gambling Sites with Multiple Trending Casino Games

    When it comes to choosing a trusted crypto gambling site, there are many options to consider. However, not all sites are created equal, and some stand out from the rest due to their reputation, game selection, and player experience.

    Trusted Bitcoin casino sites offer a wide range of games, from slots and table games to live dealer games and sports betting. These sites are known for their fair play, secure transactions, and excellent customer support.

    For example, a top Bitcoin gambling site might offer thousands of slot games with instant deposits and withdrawals from leading providers like Pragmatic Play and Evolution Gaming. These games come with exciting themes, high-quality graphics, and the potential for big wins. Table games like blackjack, roulette, and baccarat are also popular, providing a classic casino experience.

    Live dealer games bring the excitement of a real casino to your screen, with professional dealers and interactive gameplay. Sports betting is another popular option, allowing players to bet on their favorite sports and events with competitive odds.

    In summary, trusted Bitcoin gambling sites offer a comprehensive and enjoyable gaming experience, with a wide range of games and features to suit every player. Whether you’re a fan of slots, table games, live dealer games, or sports betting, these sites provide a secure and exciting way to enjoy online gambling.

    A Trusted Name in Sports betting & Bitcoin casino with trending casino games & with a Bitcoin Casino bonus including instant deposits and withdrawals

    JACKBIT crypto casino has become synonymous with trust and reliability in the online gambling space. As one of the many Bitcoin gambling sites, it offers a cryptocurrency-based gambling experience with extensive game libraries, enticing promotions, and user-friendly features. Bitcoin casino sites like JACKBIT provide advantages such as instant withdrawals, a diverse array of gaming options, and generous bonuses, all specifically tailored for players using cryptocurrencies. The Bitcoin casino is known for its provably fair games, ensuring fair play for all users. Additionally, JACKBIT’s customer support is top-notch, providing assistance whenever needed. The casino’s support team is available 24/7, ready to assist players with any questions or concerns they may have.

    JACKBIT’s crypto casino transparency and commitment to fair play have made it a favorite among players seeking a reputable and trustworthy online casino. The Bitcoin casino offers an extensive library of crypto casino games, including popular titles from leading providers, and ensures that players always have access to the latest and greatest in online gaming.

    A Diverse Online Casino Game

    From sports betting to bitcoin slots, JACKBIT crypto casino caters to all types of players. The Bitcoin casino features a wide array of games from top providers like Pragmatic Play and Evolution Gaming. Whether you’re a fan of jackpot slots, enjoy the simplicity of dice games, or prefer the thrill of live dealer games, JACKBIT has something for all casino enthusiasts. The casino’s diverse selection of games, including exciting jackpot games, ensures that players never run out of options, with new titles added regularly to keep the gaming experience fresh and exciting.

    JACKBIT’s sports betting platform offers competitive odds and a wide range of betting options, allowing sports enthusiasts to place bets on their favorite teams and events. Additionally, platforms like Mega Dice feature an extensive range of over 4,000 casino games and a robust sportsbook, making it an appealing choice for both casino enthusiasts and sports bettors.

    The crypto casino’s live dealer games provide an authentic casino experience, with real dealers and interactive gameplay that brings the excitement of a brick-and-mortar casino to the comfort of your home.

    Promotions and Deposit Bonuses of Best Crypto Casino Online

    Best crypto casinos are known for their enticing promotions and bonuses, designed to attract new players and keep existing ones engaged. These can range from generous welcome bonuses to exciting free spins and loyalty programs. For instance, some crypto casinos offer a welcome bonus of up to 1 BTC, along with 50 free spins on popular slot games. This gives new players a substantial boost to start their gaming journey.

    In addition to the welcome bonuses, players can also benefit from deposit bonuses, which can match a percentage of their deposits, sometimes up to 100%. Reload bonuses are another popular promotion, offering players additional funds on subsequent deposits. Weekly free spins, free bets, and other ongoing promotions keep the excitement alive, providing players with more opportunities to win big. These bonuses not only enhance the gaming experience but also increase the chances of hitting those coveted jackpots.

    Security, Safety & Customer Support

    Security and safety are paramount in the world of crypto casinos. These platforms employ advanced encryption technology to safeguard player data and ensure that all transactions are secure. This means that your personal and financial information is protected at all times. Additionally, crypto casinos use provably fair algorithms to guarantee that games are fair and random, providing a level playing field for all players.

    Many crypto & Bitcoin gambling sites are licensed and regulated by reputable authorities, such as the Curacao Gaming Authority. This ensures that they operate in a fair and transparent manner, adhering to strict standards of conduct. Players can also enhance their security by using VPNs, adding an extra layer of protection to their gaming experience. With these measures in place, players can enjoy their favorite games with confidence, knowing that their safety is a top priority.

    Mobile Gaming

    Mobile gaming has become a cornerstone of the crypto casino experience, allowing players to access their favorite games from anywhere, at any time. Many best crypto casinos have developed mobile-friendly websites and apps that are optimized for use on smartphones and tablets. This means you can enjoy seamless gameplay, whether you’re at home or on the go.

    With mobile devices, players can easily deposit and withdraw funds, play games, and participate in promotions, all with a few taps on their screens. The convenience and accessibility of mobile device gaming have made crypto casinos more appealing than ever. Whether you’re waiting for a bus or relaxing at home, you can dive into the exciting world of crypto casino gaming whenever you want.

    Final Words on Best Bitcoin Gambling Sites No KYC VPN Friendly

    JACKBIT’s recognition as the best bitcoin casino online for 2025 is a testament to its dedication to providing a superior gaming experience. As one of the best crypto casinos, JACKBIT excels in software quality, game variety, bonuses, and user experience.

    With its robust selection of games, secure payment methods, and exceptional customer service, JACKBIT is set to continue leading the crypto casino industry rather than many Bitcoin casinos in the industry. Whether you’re a seasoned gambler or new to the world of crypto gambling, JACKBIT is the perfect platform to explore the exciting world of the best crypto gambling sites. The casino’s commitment to innovation within the crypto gambling space, security, and player satisfaction ensures that it remains at the forefront of the online gambling industry.

    FAQ about Best Crypto gambling Sites with NO KYC, VPN Friendly

    What makes JACKBIT the best crypto casino?

    JACKBIT offers a comprehensive selection of casino games, including live casino games and online casino games, along with secure and instant deposits, free spins, casino games, and withdrawal options. As a leading Bitcoin online gambling site, JACKBIT’s reputation for fair play and generous bonuses, such as free spins, further enhances its appeal.

    JACKBIT’s cutting-edge technology and user-friendly interface make it a top choice for players seeking an exceptional gaming experience, especially those interested in playing games like bingo and traditional slot games using cryptocurrencies.

    Can I play sports betting on JACKBIT Bitcoin casino?

    Yes, JACKBIT provides a robust sports betting platform, allowing players to place bets on a wide range of sports events with competitive odds. The platform offers various betting options, catering to both casual bettors and seasoned sports enthusiasts. JACKBIT’s sports betting section is designed to provide an engaging and rewarding experience for all players.

    Are there live dealer games available at this crypto casino?

    Absolutely, JACKBIT features an exciting array of live dealer games that bring the authentic casino experience directly to your screen. Players can interact with real dealers and enjoy the thrill of live gaming from the comfort of their own homes. The live dealer games & dice games at JACKBIT are powered by top providers, ensuring high-quality streaming and immersive gameplay.

    Is JACKBIT a reliable platform for online gambling & provably fair games?

    Yes, JACKBIT is renowned for its reliability and trustworthiness in the online gambling industry, offering provably fair games and excellent customer support. The casino’s commitment to security and transparency ensures that players can enjoy their gaming experience with peace of mind. JACKBIT’s reputation as a trusted name in online gambling has made it a popular choice among players worldwide.

    Can I find JACKBIT on bitcoin gambling sites with instant deposits and withdrawals?

    Yes, JACKBIT is prominently featured on many top crypto gambling sites as a leading choice for crypto casino gaming. The casino’s stellar reputation and wide range of gaming options make it a preferred platform for players seeking a top-tier crypto gambling experience. JACKBIT’s presence on reputable bitcoin gambling sites further solidifies its status as a leading player in the industry.

    What sets JACKBIT apart from the best crypto gambling sites?

    JACKBIT stands out among the best crypto gambling sites due to its extensive range of dice games, attractive bonuses, and user-friendly interface. The platform supports a variety of cryptocurrencies, offers innovative incentives, and ensures low transaction fees, making it an appealing choice for players. JACKBIT’s commitment to providing a secure and enjoyable gambling experience, along with features like instant withdrawal for transaction efficiency, makes it a top contender in the crypto gambling market.

    Types of Crypto Casino Games

    Crypto casino games come in a variety of forms, catering to different player preferences and offering a unique twist on traditional casino gaming. The most common types include slots, table games, live dealer games, and specialty games like Crash and Plinko.

    Slots are a staple in any crypto casino, offering a range of themes, mechanics, and betting limits. From classic fruit machines to modern video slots with intricate storylines and bonus features, there’s something for every slot enthusiast. Popular titles often come from renowned providers like Pragmatic Play and Hacksaw Gaming, ensuring high-quality graphics and engaging gameplay.

    Table games such as blackjack, roulette, and baccarat provide a more traditional casino experience. These games are perfect for players who enjoy strategy and skill-based gaming. Crypto casinos often offer multiple variations of these classic games, catering to both beginners and seasoned players.

    Live dealer games offer an immersive experience with real-time interaction with professional dealers. Powered by top providers like Evolution Gaming, these games bring the excitement of a brick-and-mortar casino to your screen. Players can enjoy live blackjack, roulette, baccarat, and even game-show-style titles like Crazy Time and Monopoly Live.

    Specialty games like Crash and Plinko add a unique twist to the traditional casino experience. These games are fast-paced and often involve simple mechanics with high-risk, high-reward potential. For example, in Crash, players must cash out before a multiplier crashes, while Plinko involves dropping a ball to land on a high multiplier.

    With the rise of crypto casinos, players can now enjoy these games with the added benefits of cryptocurrency, including fast transactions, anonymity, and provably fair gaming. This diverse selection ensures that every player can find something to enjoy, making crypto casinos a popular choice for online gaming enthusiasts.

    Bitcoin Online Gambling

    Bitcoin online gambling has surged in popularity, offering players a secure, fast, and anonymous way to enjoy their favorite casino games. Bitcoin casinos provide a wide range of games, including slots, table games, and live dealer games, all of which can be played using Bitcoin.

    One of the primary advantages of Bitcoin online gambling is the speed of transactions. Deposits and withdrawals are processed almost instantly, allowing players to access their funds without delay. This is a significant improvement over traditional payment methods, which can take several days to process.

    Security is another major benefit. Bitcoin transactions are encrypted and decentralized, reducing the risk of fraud and ensuring that players’ funds are safe. Additionally, Bitcoin casinos often employ advanced security measures, such as two-factor authentication and SSL encryption, to protect players’ personal and financial information.

    Anonymity is a key feature of Bitcoin online gambling. Players can register and play without providing personal information, thanks to the no KYC (Know Your Customer) requirements. This makes the gaming experience more private and secure, appealing to players who value their privacy.

    Bitcoin casinos also offer generous welcome bonuses, reload bonuses, and other promotions to attract new players. These bonuses can significantly boost your initial bankroll, giving you more opportunities to explore the casino’s game offerings. For example, a welcome bonus might include a percentage match on your first deposit, along with free spins on popular slot games.

    In summary, Bitcoin online gambling provides a more convenient, secure, and rewarding gaming experience. With fast deposits and withdrawals, low transaction fees, and increased security, it’s no wonder that more players are turning to Bitcoin casinos for their online gaming needs.

    A Trusted Name in Sports betting & Bitcoin casino with trending casino games & with a Bitcoin Casino bonus including instant deposits and withdrawals

    Comparison of Gambling Sites

    When comparing gambling sites, several factors come into play, including the range of games, bonuses and promotions, payment methods, and customer support. The best Bitcoin gambling sites excel in these areas, providing a comprehensive and enjoyable gaming experience.

    Range of Games: The best gambling sites offer a wide variety of games, including slots, table games, and live dealer games. A diverse game library ensures that players have plenty of options to choose from, catering to different preferences and skill levels. Look for sites that feature games from top providers like Pragmatic Play, Evolution Gaming, and Hacksaw Gaming.

    Bonuses and Promotions: Generous bonuses and promotions are a hallmark of top gambling sites. These can include welcome bonuses, reload bonuses, free spins, and loyalty programs. Bonuses not only enhance the gaming experience but also increase the chances of winning. It’s important to read the terms and conditions, especially the wagering requirements, to fully benefit from these offers.

    Payment Methods: A variety of payment methods is crucial for a seamless gaming experience. The best Bitcoin gambling sites support multiple cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, as well as traditional payment methods like credit cards and bank transfers. Fast deposits and withdrawals, with low transaction fees, are essential for player satisfaction.

    Customer Support: Reliable customer support is a key factor in choosing a gambling site. The best sites offer 24/7 support through multiple contact options, including live chat, email, and phone. Prompt and helpful customer service ensures that any issues or questions are resolved quickly, enhancing the overall gaming experience.

    Reputation: A strong reputation is built on positive player reviews and high ratings. Trusted gambling sites are licensed and regulated by reputable authorities, ensuring fair play and transparency. Look for sites with a proven track record of reliability and trustworthiness.

    By considering these factors, players can make an informed decision when choosing a gambling site that meets their needs and provides a secure and enjoyable gaming experience.

    Email: support@jackbit.com

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    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

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