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  • MIL-OSI USA: Grants Awarded to Support Veterans Facilities

    Source: US State of New York

    overnor Kathy Hochul today announced $1 million in grants to 16 veterans organizations across New York State through the third round of the Veterans’ Nonprofit Capital Program. These grants will support capital improvements to facilities that serve the state’s veterans, service members and their families.

    “Our veterans, who have courageously served to protect our country, need and deserve to have access to safe, quality facilities to gather with family and loved ones,” Governor Hochul said. “This investment will not only allow for critical infrastructure upgrades, but it will also allow veterans to come together and bond with their community and families.”

    The grants, administered by the Dormitory Authority of the State of New York (DASNY) in partnership with the Department of Veterans’ Services, provide reimbursement for capital improvement projects ranging from $25,000 to $75,000. Veterans organizations will use the funding for critical infrastructure upgrades including new roofs, HVAC systems, electrical improvements, ADA-compliant modifications and renovations to kitchens and common areas.

    Recipients are located across six regions: Capital Region (4), Central New York (1), Finger Lakes (4), Long Island (2), Mid-Hudson (1) and Western New York (4). Projects include roof replacements, parking lot reconstruction, generator installations and facility accessibility improvements. A list of awards is located here.

    Dormitory Authority of the State of New York President and CEO Robert J. Rodriguez said, “DASNY is proud to administer this program alongside our partners at the Department of Veterans’ Services, delivering on Governor Hochul’s continued commitment to supporting veterans. These capital improvements will help ensure that veterans have access to safe, modern facilities where they can gather, receive services, and maintain the important connections forged through their service to our nation.”

    New York State Department of Veterans’ Services General Counsel Jonathan Fishbein said, “Round three of the Veterans’ Nonprofit Capital Program was one of our strongest to date, both in the quality of applications received and in the range of services supported across the state. These grants are making a real difference on the ground. DVS remains deeply committed to ensuring that Veterans, Service Members, and Military Families in every corner of New York have access to strong, stable, and growing networks of support. Governor Hochul continues to deliver much-needed support for all who served.”

    The Veterans’ Nonprofit Capital Program provides funding for architecture, design, engineering, construction, reconstruction, rehabilitation or expansion of eligible facilities, and purchase of eligible furnishings or equipment. Since its inception, the program has awarded $4.6 million to veterans organizations statewide.

    About the NYS Department of Veterans’ Services

    The New York State Department of Veterans’ Services proudly serves New York’s Veterans, Service Members and Military Families, connecting them with benefits, services and support. All who served should contact the Department at 888-838-7697 or via its website — veterans.ny.gov — to meet in-person or virtually with an accredited Veterans Benefits Advisor to receive the benefits they have earned. Follow DVS on Facebook, Instagram, X and LinkedIn.

    About DASNY

    Founded in 1944, DASNY is New York State’s capital project development authority. It finances and constructs sustainable and resilient science, health and education institutions that help New York thrive. It is one of the largest issuers of tax-exempt bonds in the nation with an outstanding bond portfolio of approximately $60.1 billion as of March 31, 2025. DASNY is also a prolific public builder with a construction pipeline of approximately 1,000 projects valued at more than $13 billion as of March 31, 2025. To learn more about DASNY, visit www.dasny.org.

    MIL OSI USA News –

  • MIL-OSI USA: Grants Awarded to Support Veterans Facilities

    Source: US State of New York

    overnor Kathy Hochul today announced $1 million in grants to 16 veterans organizations across New York State through the third round of the Veterans’ Nonprofit Capital Program. These grants will support capital improvements to facilities that serve the state’s veterans, service members and their families.

    “Our veterans, who have courageously served to protect our country, need and deserve to have access to safe, quality facilities to gather with family and loved ones,” Governor Hochul said. “This investment will not only allow for critical infrastructure upgrades, but it will also allow veterans to come together and bond with their community and families.”

    The grants, administered by the Dormitory Authority of the State of New York (DASNY) in partnership with the Department of Veterans’ Services, provide reimbursement for capital improvement projects ranging from $25,000 to $75,000. Veterans organizations will use the funding for critical infrastructure upgrades including new roofs, HVAC systems, electrical improvements, ADA-compliant modifications and renovations to kitchens and common areas.

    Recipients are located across six regions: Capital Region (4), Central New York (1), Finger Lakes (4), Long Island (2), Mid-Hudson (1) and Western New York (4). Projects include roof replacements, parking lot reconstruction, generator installations and facility accessibility improvements. A list of awards is located here.

    Dormitory Authority of the State of New York President and CEO Robert J. Rodriguez said, “DASNY is proud to administer this program alongside our partners at the Department of Veterans’ Services, delivering on Governor Hochul’s continued commitment to supporting veterans. These capital improvements will help ensure that veterans have access to safe, modern facilities where they can gather, receive services, and maintain the important connections forged through their service to our nation.”

    New York State Department of Veterans’ Services General Counsel Jonathan Fishbein said, “Round three of the Veterans’ Nonprofit Capital Program was one of our strongest to date, both in the quality of applications received and in the range of services supported across the state. These grants are making a real difference on the ground. DVS remains deeply committed to ensuring that Veterans, Service Members, and Military Families in every corner of New York have access to strong, stable, and growing networks of support. Governor Hochul continues to deliver much-needed support for all who served.”

    The Veterans’ Nonprofit Capital Program provides funding for architecture, design, engineering, construction, reconstruction, rehabilitation or expansion of eligible facilities, and purchase of eligible furnishings or equipment. Since its inception, the program has awarded $4.6 million to veterans organizations statewide.

    About the NYS Department of Veterans’ Services

    The New York State Department of Veterans’ Services proudly serves New York’s Veterans, Service Members and Military Families, connecting them with benefits, services and support. All who served should contact the Department at 888-838-7697 or via its website — veterans.ny.gov — to meet in-person or virtually with an accredited Veterans Benefits Advisor to receive the benefits they have earned. Follow DVS on Facebook, Instagram, X and LinkedIn.

    About DASNY

    Founded in 1944, DASNY is New York State’s capital project development authority. It finances and constructs sustainable and resilient science, health and education institutions that help New York thrive. It is one of the largest issuers of tax-exempt bonds in the nation with an outstanding bond portfolio of approximately $60.1 billion as of March 31, 2025. DASNY is also a prolific public builder with a construction pipeline of approximately 1,000 projects valued at more than $13 billion as of March 31, 2025. To learn more about DASNY, visit www.dasny.org.

    MIL OSI USA News –

  • MIL-OSI: CAI Earns Top Score on 2025 Disability Index

    Source: GlobeNewswire (MIL-OSI)

    ALLENTOWN, Pa., July 15, 2025 (GLOBE NEWSWIRE) — CAI, a global services firm, today announced it earned the top score of 100 on the 2025 Disability Index® with the distinction of “Best Place to Work for Disability Inclusion” for the fifth consecutive year.

    The index is the leading independent, third-party resource for the annual, confidential benchmarking of disability inclusion policies and programs in business. Now trusted by over 70% of the Fortune 100 and nearly half of the Fortune 500, the tool helps companies determine data-driven actions that can achieve tangible business impact.

    “At CAI, our people are our greatest asset. We value and celebrate diverse perspectives, fostering an inclusive culture that drives innovation and excellence. We prioritize merit, performance, and experience, ensuring every team member is recognized and rewarded for their contributions,” said Tom Salvaggio, president and CEO at CAI. “By providing accessible growth opportunities and focusing on strengths and achievements, we create a dynamic workplace where everyone can thrive and make a meaningful impact.”

    “As we release this year’s Disability Index report, we celebrate the continued progress made by businesses around the world,” said Jill Houghton, president and CEO at Disability:IN. “Today, hundreds of the world’s leading companies are using this tool to benchmark and drive their disability inclusion efforts. Together, we are creating a global economy accelerated by disability inclusion.”

    In 2026, the index will evolve into a universal benchmark, enabling companies around the world to measure and address opportunities, as well as progress, in workplace culture, recruitment, infrastructure and more. The updated name supports these goals by promoting broader recognition and applicability across disparate regions and industries.

    To learn more about CAI’s culture, visit https://www.cai.io/about-us/belonging-and-impact

    To learn more about CAI Neurodiverse Solutions, visit https://www.cai.io/neurodiverse-solutions/overview

    To browse open jobs at CAI, visit https://careers.cai.io/us/en

    About CAI

    CAI is a global services firm with over 9,000 associates worldwide and a yearly revenue of $1.3 billion+. We have over 40 years of excellence in uniting talent and technology to power the possible for our clients, colleagues, and communities. As a privately held company, we have the freedom and focus to do what’s right—whatever it takes. Our tailor-made solutions create lasting results across the public and commercial sectors, and we are trailblazers in bringing neurodiversity to the enterprise.

    Learn how CAI powers the possible at www.cai.io

    Disability:IN

    Disability:IN is the leading nonprofit resource for business disability inclusion worldwide. With the world’s leading companies as partners, Disability:IN drives progress through initiatives, tools, and expertise that deliver long-term business impact. Are You IN?

    Contact:
    Madison Oler
    Sr. PR & Communications Specialist
    CAI
    Madison.oler@cai.io

    The MIL Network –

  • MIL-OSI: SoftServe Signs Strategic Collaboration Agreement with AWS to Deliver Cloud Migration, Modernization, and AI-Enabled Solutions for Enterprise Success

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, July 15, 2025 (GLOBE NEWSWIRE) — SoftServe, a premier IT consulting and digital services provider, today announced it has signed a strategic collaboration agreement (SCA) with Amazon Web Services, Inc. (AWS), with plans to amplify enterprise AI adoption for real-world applications through heightened integration of AWS services and cloud-native modernization.

    The newly signed SCA is a multi-year, innovative agreement encompassing co-developed solutions, enhanced investments, and strategic alignment to AWS priorities and client benefits, including:

    • Joint Go-To-Market (GTM) Strategies: Collaborating on GTM initiatives to bring these solutions to market faster and at a higher volume
    • Cloud-Native Transformation: Helping enterprises modernize legacy systems and migrate to AWS with greater speed, security, and efficiency using SAMP, or SoftServe’s Adaptive Modernization Platform (formerly SoftServe Application Modernization Platform), a proven accelerator that reduces timelines for cloud modernization projects through reusable AWS-native modules and Agentic AI to improve scalability, reliability, and developer velocity
    • Customer-Centric Innovation: Customizing scalable, AI-enabled solutions that address real-world challenges, such as helping ISVs accelerate SaaS adoption on AWS by automating multi-tenant provisioning and compliance readiness through AI-powered application modernization
    • Global Reach & Impact: Expanding delivery capabilities, expert access and certifications, and digital collaboration across North America and EMEA

    “Within our alliance with AWS, we deploy a differentiated approach that unifies migration, modernization, and AI adoption into a repeatable, scalable strategy,” said Volodymyr Semenyshyn, SoftServe’s Chief Revenue Officer (CRO). “This collaboration signals next-level advancement for key offerings like our highly customized self-service platform SAMP, which paves the way for reaching more measurable outcomes and faster time-to-value for our clients.”

    “This new cooperation unlocks a new level of joint execution between SoftServe and AWS,” said Darrin Griggy, SVP of Partnerships & Alliances at SoftServe. “Our aligned go-to-market strategies will accelerate solution delivery, expand market reach, and empower organizations to achieve complex migrations, optimize workloads, and operationalize AI with greater efficiency and security.”

    This collaboration underscores the value of SoftServe and AWS to provide flexibility and unlock greater business value for customers across industries. SoftServe is an AWS Premier Tier Services Partner with 12 AWS competencies and is an inaugural launch partner of the AWS Generative AI Competency and Data Foundation for Generative AI with AWS. Notable competencies obtained include Migration, DevOps, Big Data, SaaS, security, machine learning, as well as retail, financial services, healthcare, and more.

    With more than 700 AWS-certified experts, including two of the 274 AWS Ambassadors acclaimed worldwide, SoftServe enables clients to achieve business outcomes through cloud modernization, data platforms, and AI/ML transformation. For more information please visit this website.

    ABOUT SOFTSERVE
    SoftServe is a premier IT consulting and digital services provider. We expand the horizon of new technologies to solve today’s complex business challenges and achieve meaningful outcomes for our clients. Our boundless curiosity drives us to explore and reimagine the art of the possible. Clients confidently rely on SoftServe to architect and execute mature and innovative capabilities, such as digital engineering, data and analytics, cloud, and AI/ML.

    Our global reputation is gained from more than 30 years of experience delivering superior digital solutions at exceptional speed by top-tier engineering talent to enterprise industries, including high tech, financial services, healthcare, life sciences, retail, energy, and manufacturing. Visit our website, blog, LinkedIn, Facebook, and X (Twitter) pages for more information.

    The MIL Network –

  • MIL-OSI: CleanChoice Energy Welcomes Christopher Smith as New Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, July 15, 2025 (GLOBE NEWSWIRE) — CleanChoice Energy (“CleanChoice”), the first 100% green company in the U.S. to provide ‘farm-to-table’ renewable energy by owning clean and reliable generation assets and supplying only clean energy to consumers, has named Christopher Smith as its new Chief Financial Officer (CFO).

    This news comes amidst a year of exciting transition for CleanChoice. Over the past 12 months, CleanChoice has interconnected its first solar project in Pennsylvania and announced three additional solar projects located in the northeast United States, while also continuing to grow its retail business. Smith will be a driving force in helping CleanChoice achieve its growth objectives as the company continues its evolution into both a supplier and generator of clean energy.

    “Chris brings deep capital-markets expertise and a track record of building top-flight finance teams at scale in energy businesses,” said Tom Matzzie, Founder & CEO of CleanChoice. “His appointment underscores our readiness to navigate evolving markets and to structure financing that earns investor trust—supporting CleanChoice’s commitment to responsible, resilient, sustainable growth.”

    “As CleanChoice Energy enters a new phase of growth, Chris brings the expertise and insight to help us traverse a changing industry,” Matzzie continued. “The United States is at a turning point. It faces both a critical need for not only more, but also cost effective and sustainable energy – seemingly everywhere and all at once – while customers demand not only a real choice but also a trusted partner in managing their energy future.”

    Smith has experience in building high performing finance teams and high quality businesses and will complement an already strong bench. Over the past two decades, Smith has held senior roles across top tier public and private organizations with a focus on growth and navigating complex challenges. Smith played a pivotal role in successfully growing Hannon Armstrong, and he served in key leadership roles at organizations such as Constellation Energy Commodities Group and Bank of America Merrill Lynch, among others. His background includes SEC reporting, investor relations, and significant capital markets expertise.

    “CleanChoice completely aligns with my passion to help companies grow in smart, sustainable ways,” noted Smith. “It’s all about the customer. CleanChoice is well positioned to expand upon its already considerable growth realized over the last decade not in spite of current challenges, but thanks to them. The new frontier of energy is here—we have the tools and technology to help customers lower costs, address sustainability goals, and improve reliability, and I’m eager to demonstrate to current and future customers, stakeholders and investors that clean energy is smart energy.”

    Finally, Matzzie added, “I’m thankful to John Burke for his support and leadership over the last nine years as Chief Financial Officer and I look forward to continuing to work with him in his new role as Chief Commercial Officer, in which he will architect and manage our growing wholesale and risk management platform.”

    For more information about CleanChoice Energy, visit www.cleanchoiceenergy.com.

    ABOUT CLEANCHOICE ENERGY
    CleanChoice Energy is one of the leading 100% renewable energy suppliers in the U.S. providing ‘farm-to-table’ clean energy providing consumers with alternative ways to access clean energy. CleanChoice has redefined cleantech, making it easy for people to live cleaner lives with pollution-free, renewable energy for their homes and businesses. Founded in 2012, CleanChoice has become one of the fastest-growing businesses in America, as ranked on the Inc 5000 and Deloitte’s Technology Fast 500™. CleanChoice Energy is majority-owned by Funds managed by True Green Capital Management LLC. For more information or to become a clean energy customer, visit CleanChoiceEnergy.com.

    Media Contact:

    Debbie Ehrman
    FINN Partners
    CleanChoiceEnergy@finnpartners.com

    Kate Colarulli
    Chief Strategy Officer
    Mobile: +1 202 380 8936
    kate.colarulli@cleanchoice.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0abfacd9-ec3b-41c6-a137-aa0a28169644

    The MIL Network –

  • MIL-OSI: BVNK & Bitwave Announce Partnership to Enable Real-Time Stablecoin Payments for Enterprise Finance

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, July 15, 2025 (GLOBE NEWSWIRE) — BVNK, a global provider of stablecoin-native payment infrastructure announced a strategic partnership with Bitwave, the leading enterprise digital asset finance platform. The integration will empower enterprise finance teams to send and receive stablecoin invoice payments with compliance, security, and speed.

    Together, BVNK and Bitwave are redefining what’s possible for modern finance operations by embedding stablecoin wallets with Bitwave’s SOC-compliant tax, accounting and compliance platform.

    “For many finance teams, adopting stablecoins has been held back by operational and reporting complexity. Our integration with Bitwave bridges that gap, making it easier for businesses to move between traditional finance operations and stablecoin payments,” said Jesse Hemson-Struthers, CEO and Co-Founder of BVNK.

    As more businesses explore stablecoins for treasury and payments, these kinds of solutions will be key.”

    Unlocking Stablecoin Payments for the Enterprise

    BVNK delivers stablecoin-native infrastructure for global financial services, powering the flexibility and control enterprises need to modernize their payment operations.

    Through this integration, Bitwave customers will gain access to BVNK’s embedded stablecoin wallets to:

    • Pay invoices in USD, settle in stablecoins
    • Accept payments in stablecoins, receive fiat
    • Simplify reconciliation and automate GAAP/IFRS reporting
    • Access automated workflows for simplified tax, accounting, and compliance

    This capability allows finance teams to take advantage of the speed and efficiency of blockchain-based payments without sacrificing audit-readiness or security.

    “Businesses are ready for stablecoin payments. What they’ve been missing is a safe, reliable way to use them in daily operations,” said Pat White, CEO and Co-Founder of Bitwave.

    “BVNK delivers exactly that for our customers—offering speed, compliance, and flexibility without adding operational complexity.”

    Meeting the Moment for Digital Finance

    As global businesses continue to explore digital assets for treasury operations, cross-border payments, and financial innovation, this collaboration represents a major step forward in enterprise-grade stablecoin adoption.

    By bringing stablecoin-native infrastructure into Bitwave’s accounting and finance stack, the partnership enables finance teams to:

    • Accelerate settlement cycles
    • Modernize treasury operations
    • Eliminate the complexity of manual financial reporting workflows

    “Moving money onchain shouldn’t be complicated,” added Pat White. “This is how digital assets go mainstream.”

    To get started, request a demo with Bitwave today.

    About BVNK

    BVNK builds stablecoin-native infrastructure to power global financial services. Our platform enables businesses to move value instantly across borders and networks. With global licensing and Tier 1 bank partnerships, we facilitate billions in transactions for enterprises like Worldpay, Deel and Rapyd. Visit bvnk.com for more information.

    About Bitwave

    Bitwave is the leading digital asset subledger and on-chain finance platform for businesses. Built for enterprises and institutions, Bitwave simplifies digital asset tax, accounting, and payment workflows for global finance teams – all with a comprehensive, audit-ready platform. Trusted by Fortune 100 leaders, Bitwave delivers the reliability, security, and control demanded by today’s leading finance teams.

    Bitwave enables the digital asset economy with scalable financial operations.

    Visit bitwave.io for more.

    Media Contact:
    Amy Kalnoki
    Co-Founder & COO, Bitwave
    marketing@bitwave.io

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d3ca5522-5929-4a4b-aef5-9989825cf2f5

    The MIL Network –

  • MIL-OSI Russia: What Flowers Say: New Exhibition at the School of Design

    Translation. Region: Russian Federal

    Source: State University “Higher School of Economics” –

    An important disclaimer is at the bottom of this article.

    HSE ART GALLERY in partnership with the platform Artz. Vork continues the cycle of group exhibition projects from the “Big Themes” series, rethinking fundamental ideas and offering new interpretations of timeless concepts. This time, the theme of the exhibition was flowers – their images, symbolism and meanings.

    Flowers are traditionally associated with transience: they do not live long, quickly fade, and disappear almost without a trace. Therefore, flora in art often becomes an image of memory, loss, something that slips away but continues to exist. Alexandra Lurye, Maria Panina, Anna Stavinozhenko, and Alina Kerimova work in this vein. In the context of the climate and political crisis, flora is increasingly acquiring features of vulnerability and anxiety — as in the works of Anastasia Kovaleva, Alexandra Zamurueva, and Polina Filippova. Some artists — Irina Afanasyeva and Galya Fadeeva — radically rethink the very idea of the “language of flowers,” rejecting established symbols in favor of new ways of expression. When we talk about flowers, we most often imagine something living, fragile, tangible. But what happens when flora loses its materiality and turns into a digital image? This question is asked by Masha Rogova, Dariella, and Olga Filina. Flowers at the exhibition become a reason for a conversation about identity, personal history and deep self-reflection — in the works of Inga Tatarshao, Ekaterina Ivanitskaya and Marya Dmitrieva. Separately, the exhibition presents “Flower Horoscope” — a fantasy digital project by the art group Agey Tomesh.

    One of the conceptual lines of the exhibition is the metaphorical convergence of the phenomena of herbarium and collecting. To collect a herbarium and to collect art means to touch time. In both cases, it is about choosing, selecting and preserving what can disappear. However, in the post-digital era, when the boundaries between the physical and the virtual are increasingly blurred, a new form of interaction with art is emerging – phygital collecting, combining the material (physical) and the digital (digital). Being part of the exhibition program Biennale of private collections, the project invites us to reflect on the nature of phygital collecting. This format became the basis of the platform Artz. Vork, where viewers can find all the works on display — add a memorable piece to their digital collection and purchase a print based on it. The Flower Horoscope is an archaic system of symbolic classification found in cultural layers of the supposed pre-continental period. Unlike astrological systems based on observation of stellar movement, this model correlates human individuality with phenological cycles — the flowering time of plants, seasonal weather changes, and the migration of fauna.

    Each day of the modern calendar year corresponds to a certain type of ancient plant (usually a flower), supposedly possessing its own “character” or behavioral metaphor. It is believed that a person born on this day inherits the qualities attributed to “his” plant, as well as its supposed role in the natural-social structure.

    Choose a flower

    Art group Agey Tomesh, Dariella, Ira Afanasyeva, Marya Dmitrieva, Alexandra Zamurueva, Ekaterina Ivanitskaya, Alina Kerimova, Anastasia Kovaleva, Alexandra Lurye, Maria Panina, Masha Rogova, Anna Stavinozhenko, Inga Tatarshao, Galya Fadeeva, Olga Filina, Polina Filippova.

    HSE ART GALLERY in the Vinzavod Contemporary Art Center4th Syromyatnichesky Lane, 1/8с6 (entrance C8, floor 2)

    Gallery opening hours: Tuesday–Sunday | 12:00–20:00Free admission by prior arrangementregistration

    Director of HSE ART GALLERY: Vassa Pyrkova Curator of HSE ART GALLERY: Ilya Kronchev-IvanovProducers: Anna Aravina, Polina Saratovskaya, Anastasia Shabashova, Elena KirpuGraphic design: HSE DESIGN LAB

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

    .

    MIL OSI Russia News –

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

    Source: Government of South Africa

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

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

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

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

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

    WATCH | 

    [embedded content]

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

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

    Repatriation

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

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

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

    READ | Government, judiciary reaffirm commitment to justice

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

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

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

    Museums

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

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

    Creative arts

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

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

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

    Sector clusters

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

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

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

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

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

    MIL OSI Africa –

  • MIL-OSI Security: SOUTHERN STAR ’25: 27th Special Operations Wing projects power with partners in Chile

    Source: United States SOUTHERN COMMAND

    SANTIAGO, Chile — From the sunbaked airstrips of Antofagasta to the bustling port of Valparaíso and the icy channels of Punta Arenas, elite troops from six nations dove into SOUTHERN STAR ’25, Latin America’s premier multinational special operations exercise. Designed around a simulated United Nations stabilization mandate, the event brings together special forces from Chile, the United States, Spain, Argentina, Colombia, and Paraguay, with ten additional nations participating as observers.

    MIL Security OSI –

  • MIL-OSI Security: Panamanian and U.S. medical experts change lives aboard the USNS Comfort

    Source: United States SOUTHERN COMMAND

    For three years, Jesús, a local bus driver from Colón, wore a cap to hide the large, painful scars on his ears. The disfigurement was a lingering reminder of a devastating vehicle accident that changed his life. This week aboard the Mercy-class hospital ship USNS Comfort (T-AH 20), he received reconstructive surgery that marked a new beginning, thanks to a combined team of U.S. and Panamanian medical professionals.

    MIL Security OSI –

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

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

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

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

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

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

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

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

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

    Homelessness often starts in their teens

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

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

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

    Better definitions, better data

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

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

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

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

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

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

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

    Rethinking responses to long-term homelessness

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

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

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

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

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

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

    MIL OSI Analysis –

  • MIL-OSI Security: Defendants Sentenced for Trafficking Methamphetamine in Middle Georgia

    Source: US FBI

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL Security OSI –

  • MIL-OSI Security: Former Troup County Payroll Manager Charged with Embezzling Over $500,000 in Government Funds

    Source: US FBI

    NEWNAN, Ga. – Wesleigh Gaddy, 35, of Hogansville, Ga., appeared in federal court today on a charge of theft from a program receiving federal funds.                                                                                          

    “Gaddy allegedly stole more than half a million taxpayer dollars by exploiting the personal information of dozens of former Troup County employees,” said U.S. Attorney Theodore S. Hertzberg. “Such corruption is outrageous, and our office is committed to prosecuting anyone who manipulates a position of public service for unlawful private benefit.”

    “Misappropriating public funds is a betrayal of the public trust and authorities granted with a role of public service,” said FBI Atlanta Special Agent in Charge Paul Brown. “The FBI is committed to holding those accountable who abuse this trust and their position for their own gain.”

    “As a public servant, Gaddy used her entrusted position to steal the identities of county employees to access taxpayers’ money for her benefit,” said Special Agent in Charge Demetrius Hardeman, IRS Criminal Investigation, Atlanta Field Office. “IRS Criminal Investigation special agents will continue investigating public officials and servants who steal from the taxpayers they are supposed to serve.”

    According to U.S. Attorney Hertzberg, the charges, and other information presented in court: In April 2025, a Troup County Sheriff’s Office deputy reported a discrepancy with his paycheck to the Troup County Board of Commissioners, which manages Troup County’s finances and is a recipient of federal funding. Specifically, the deputy noted that an employee portal showed several direct deposit payments were made to him when he did not work for the county and never received those payments.

    A review of the county’s payroll data showed that, between March 2023 and May 2025, while Wesleigh Gaddy was Troup County’s payroll specialist, hundreds of payments, totaling more than $500,000, were withdrawn from county funds for the purported benefit of more than 75 former Troup County employees. But those funds were directed to only three banking accounts, and none of the employees worked for the county at the time of the payments. The complaint filed on July 3, 2025 alleges that Gaddy controlled at least one of the recipient accounts and that, when interviewed by law enforcement, Gaddy admitted to stealing funds from Troup County’s payroll and sending the money to her own accounts.

    Members of the public are reminded that the complaint only contains charges. The defendant is presumed innocent of the charges, and it will be the government’s burden to prove the defendant’s guilt beyond a reasonable doubt at trial.

    This case is being investigated by the Federal Bureau of Investigation, Georgia Bureau of Investigation, and Internal Revenue Service Criminal Investigation. The Coweta Judicial Circuit District Attorney’s Office referred the case to the U.S. Attorney’s Office for federal investigation.

    Assistant United States Attorneys Bethany L. Rupert and Garrett Bradford are prosecuting the case.

    For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6185. The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.

    MIL Security OSI –

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

    Source: APO


    .

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

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

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

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

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

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

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

    MIL OSI Africa –

  • MIL-OSI Canada: Minister Champagne to participate in G20 and G7 Finance Ministers and Central Bank Governors’ Meetings in South Africa

    Source: Government of Canada News

    July 15, 2025

    The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, will participate in G20 and G7 Finance Ministers and Central Bank Governors’ (FMCBG) Meetings, in Durban, South Africa, from July 17 to 18. 

    Prior to the Meetings, during a short stay in Cape Town, the Minister will meet with local businesses and government officials with an eye to advance bilateral partnerships, economic development and innovation collaboration.

    In Durban, the Minister, together with Tiff Macklem, Governor of the Bank of Canada, will chair the fourth G7 FMCBG Meeting under Canada’s G7 Presidency. The agenda builds on the important progress made by Finance Ministers and Central Bank Governors at the G7 in Banff and the shared steps Canada and its partners are taking together to reduce ongoing trade and economic policy uncertainty.

    G7 Ministers and Governors will also discuss Russia’s illegal and unjust war against Ukraine, as well as actions to improve supply chain resilience Australia and South Korea have been invited to join the discussion on supply chains.

    The G20 FMCBG Meetings will focus on the global economy and on issues related to the international financial architecture, international taxation and ways to improve longer-term growth prospects in Africa and across the G20. 

    MIL OSI Canada News –

  • MIL-OSI: Broadcom Ships Tomahawk Ultra: Reimagining the Ethernet Switch for HPC and AI Scale-up

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., July 15, 2025 (GLOBE NEWSWIRE) — Broadcom Inc. (NASDAQ:AVGO), a global leader in semiconductor and infrastructure software solutions, today announced the shipment of its breakthrough Ethernet switch — the Tomahawk Ultra. Engineered to transform the Ethernet switch for high-performance computing (HPC) and AI workloads, Tomahawk Ultra delivers industry-leading ultra-low latency, massive throughput, and lossless networking.

    “Tomahawk Ultra is a testament to innovation, involving a multi-year effort by hundreds of engineers who reimagined every aspect of the Ethernet switch,” said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. “This highlights Broadcom’s commitment to invest in advancing Ethernet for high-performance networking and AI scale-up.”

    Shattering Myths, Redefining Performance

    Built from the ground up to meet the extreme demands of HPC environments and tightly coupled AI clusters, Tomahawk Ultra redefines what an Ethernet switch can deliver. Long perceived as higher-latency and lossy, Ethernet takes on a new role:

    • Ultra-low latency: Achieves 250ns switch latency at full 51.2 Tbps throughput.
    • High performance: Delivers line-rate switching performance even at minimum packet sizes of 64 bytes, supporting up to 77 billion packets per second.
    • Adaptable, optimized Ethernet headers: Reduces header overhead from 46 bytes down to as low as 10 bytes, while maintaining full Ethernet compliance —boosting network efficiency and enabling flexible, application-specific optimizations.
    • Lossless fabric: Implements Link Layer Retry (LLR) and Credit-Based Flow Control (CBFC) to eliminate packet loss and ensure reliability.

    “AI and HPC workloads are converging into tightly coupled accelerator clusters that demand supercomputer-class latency — critical for inference, reliability, and in-network intelligence from the fabric itself,” said Kunjan Sobhani, lead semiconductor analyst, Bloomberg Intelligence. “Demonstrating that open-standards Ethernet can now deliver sub-microsecond switching, lossless transport, and on-chip collectives marks a pivotal step toward meeting those demands of an AI scale-up stack — projected to be double digit billions in a few years.”

    Built for HPC and AI Scale-Up

    Tomahawk Ultra is optimized for the tightly coupled, low-latency communication patterns found in both high-performance computing systems and AI clusters. With ultra-low latency switching and adaptable optimized Ethernet headers, it provides predictable, high-efficiency performance for large-scale simulations, scientific computing, and synchronized AI model training and inference.

    When deployed with Scale-Up Ethernet (SUE specification available to the public here), Tomahawk Ultra enables sub-400ns XPU-to-XPU communication latency, including the switch transit time — setting a new benchmark for tightly synchronized AI compute at scale.

    By reducing Ethernet header overhead from 46 bytes to just 10 bytes, while maintaining full Ethernet compliance, Tomahawk Ultra dramatically improves network efficiency. This optimized header is adaptable per application, offering both flexibility and performance gains across diverse HPC and AI workloads.

    Tomahawk Ultra incorporates lossless fabric technology that eliminates packet drops during high-volume data transfer. Incorporating LLR, the switch detects link errors using Forward Error Correction and automatically retransmits packets, avoiding drops at the wire level. Simultaneously, CBFC prevents buffer overflows that traditionally caused packet loss. Together, these mechanisms create a truly lossless Ethernet fabric, delivering the level of reliability demanded by today’s most data-intensive workloads.

    Tomahawk Ultra also accelerates performance through In-Network Collectives solving one of the most persistent bottlenecks in AI and machine learning workloads. Rather than burdening XPUs with collective operations like AllReduce, Broadcast, or AllGather, Tomahawk Ultra executes these directly within the switch chip. This can reduce job completion time and improve utilization of expensive compute resources. Importantly, this capability is endpoint-agnostic, enabling immediate adoption across a wide range of system architectures and vendor ecosystems.

    Designed with innovations in topology-aware routing to support advanced HPC topologies including Dragonfly, Mesh and Torus, Tomahawk Ultra is also compliant with the UEC standard and embraces the openness and rich ecosystem of Ethernet networking.

    Introducing SUE-Lite

    As part of Broadcom’s Ethernet-forward strategy for AI scale-up, the company has introduced SUE-Lite — an optimized version of the SUE specification tailored for power and area-sensitive accelerator applications. SUE-Lite retains the key low-latency and lossless characteristics of full SUE, while further reducing the silicon footprint and power consumption of Ethernet interfaces on AI XPUs and CPUs.

    This lightweight variant enables easier integration of standards-compliant Ethernet fabrics in AI platforms, promoting broader adoption of Ethernet as the interconnect of choice in scale-up architectures.

    Platform for AI Scale-Up and HPC Scale-Out

    Together with the 102.4 Tbps Tomahawk 6, Tomahawk Ultra forms the foundation of a unified Ethernet architecture: enabling scale-up Ethernet for AI, and scale-out Ethernet for HPC and distributed workloads.

    Now Shipping

    Tomahawk Ultra is 100% pin-compatible with Tomahawk 5, ensuring a very fast time-to-market. It is shipping now for deployment in rack-scale AI training clusters and supercomputing environments. To learn more about the Broadcom Tomahawk Ultra family click here. Explore the full Scale-Up/Scale-Out media kit for resources and insights into Broadcom’s scalable solutions here.

    About Broadcom
    Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

    Broadcom, the pulse logo, and Connecting everything are among the trademarks of Broadcom. The term “Broadcom” refers to Broadcom Inc., and/or its subsidiaries. Other trademarks are the property of their respective owners.

    Press Contact:
    Jon Piazza
    Global Communications
    press.relations@broadcom.com
    Telephone: +1 310 498 5254

    Industry Quotes

    Michael KT Lee, Senior Vice President, Research and Development Center, Accton
    “Networking needs within an XPU node are as critical as those between nodes. With 51.2 Tbps Ethernet switching, 250-ns latency, credit-based flow control, and configurable optimized header, the Tomahawk Ultra is a perfect solution for building high-bandwidth, high-reliability, high-efficiency, and low-latency lossless systems ready for scale-up AI and HPC applications. Accton is excited to embrace the launch and collaborate closely with Broadcom to bring the Tomahawk Ultra solutions to the market.”

    Forrest Norrod, Executive Vice President and General Manager, Data Center Solutions Group, AMD
    “Low latency is essential to unleashing the full potential of AI — from reducing training times to powering real-time inference. By combining Broadcom’s new Tomahawk Ultra switch with AMD Instinct™ GPUs and EPYC™ processors, we’re enabling high-performance, standards-based Ethernet solutions for AI infrastructure. Together, we’re advancing an open ecosystem that brings our vision of AI everywhere, for everyone, closer to reality.”

    Simon Capper, Principal Engineer for AI networking, Arista Networks
    “Arista appreciates the combination of ultra-low latency and scale-Up Ethernet innovations of Tomahawk Ultra for AI networking. Once again Broadcom is setting the pace in the AI and the switch industry.”

    Shekar Ayyar, Chairman and CEO, Arrcus
    “The launch of Broadcom’s Tomahawk Ultra marks a groundbreaking advancement in Ethernet innovation, particularly for AI and HPC scale-up environments. With ultra-low latency and a lossless fabric, it significantly accelerates job completion times — critical for modern AI workloads. At Arrcus, we’re proud to champion an open, standards-based networking ecosystem. Combined with our high-performance ArcOS network operating system, customers can unlock scalable infrastructure that is both flexible and future-ready.”

    Wangson Wang, General Manager of Data Networks Infrastructure, Delta Electronics
    “Delta Electronics is constantly looking ahead, and we’re thrilled to confirm that our 51.2T Ethernet switch platform is ready to harness the full power of Broadcom’s Tomahawk Ultra chip. We see Tomahawk Ultra as a game-changer for AI scale-up and HPC. The collaboration between Delta and Broadcom demonstrates our dedication to pushing the boundaries of what is possible in Data Center network infrastructure. Building on the success of Delta’s current 800G switches, the newly launched Tomahawk Ultra chips enable us to deliver advanced solutions that offer not only unmatched performance and efficiency, but also high reliability and scalability for the most demanding network workloads — supporting rapid AI/ML network deployments for our customers.”

    Praveen Jain, Senior Vice President and General Manager, AI Clusters and Cloud Ready Data Center, HPE Networking
    “HPE is committed to delivering open, high-performance and easy-to-manage Ethernet-based solutions for the modern data center. We commend Broadcom on its new offering, and its ultra-low latency, high throughput and support for in-network collectives align perfectly with what today’s workloads demand. It reflects our shared vision for building the most advanced and open data center infrastructure solutions with operational simplicity at its core.”

    Saurabh Kulkarni, Vice President, AI Technical Product Management, Intel
    “Broadcom’s Tomahawk Ultra Series with its high throughput and ultra-low latency enables all-to-all connectivity across up to 64 Intel® Gaudi® 3 AI accelerators per rack with total HBM bandwidth of 76.8TB/s, capable of scaling the connectivity across multiple racks. This rack-level bandwidth unlocks new possibilities for training and real-time inference of the most complex LLMs, redefining industry SLAs. Through our collaboration with Broadcom, Intel is showcasing the open architecture and modular design advantage and full capability of our rack scale platform built for large-scale, global AI deployments.”

    Vincent Lin, General Manager, Inventec EBG
    “Inventec congratulates Broadcom on the launch of Tomahawk Ultra Ethernet switch, which significantly enhances the efficiency and sustainability of AI solutions by delivering the industry’s lowest switch latency, 250 nanoseconds, and leading power efficiency with 800W at 51.2T performance. At Inventec, our vision is to develop cutting-edge artificial intelligence products that drive sustainable change for humanity and the environment through close partnership with Broadcom to deliver high-performance, scalable solutions, supporting customers’ evolving AI and high-performance computing needs.”

    Kiyo Oishi, CEO, IPI
    “The Tomahawk Ultra represents a bold leap forward in AI workloads and HPC clusters, delivering an unmatched combination of bandwidth, latency, and cutting-edge features like In-Network Collectives and scale-up Ethernet. By leveraging non-proprietary Ethernet, the Tomahawk Ultra will empower customers to scale their data intensive applications with unparalleled performance, efficiency, and reliability — paving the way for groundbreaking innovations in data-intensive computing.”

    Andrew Qu, CEO, Micas Networks
    “Broadcom’s Tomahawk Ultra is a major step forward for scale-up Ethernet in AI and HPC. With 250ns latency, 51.2 Tbps switching, and advanced features like Link Layer Retry, In-Network Collectives, and the AI Fabric Header, it delivers the performance, reliability, and efficiency our customers need for AI at scale. Thanks to pin compatibility with Tomahawk 5, Micas can rapidly bring Tomahawk Ultra-based systems to market, enabling seamless upgrades to meet the demands of next-generation AI infrastructure.”

    Anshul Sadana, Founder and CEO, Nexthop AI
    “With Tomahawk Ultra, Broadcom has driven AI Networking to a new level, allowing us to enable a new generation of low latency and lossless scale-up Ethernet solutions. Along with Nexthop SONiC, we now offer some of the most efficient scale-up and UEC compatible scale-out Ethernet solutions for the world’s largest hyperscalers.”

    Mike Yang, President, Quanta Cloud Technology
    “At QCT, we are committed to delivering next-generation AI and HPC infrastructure that meets the demands of extreme scale, performance, and efficiency. Broadcom’s Tomahawk Ultra Ethernet switch is a game-changer for the AI era, enabling 51.2 Tbps of switching capacity with ultra-low 250ns latency to dramatically accelerate AI training and inferencing workloads. We are excited to continue collaborating with Broadcom to push the next frontier of AI with Ethernet-based infrastructure.”

    Vincent Ho, CEO of UfiSpace
    “The Tomahawk Ultra delivers high performance and full pin-to-pin compatibility with Tomahawk 5. This seamless upgrade path shortens our development cycle for next-generation platforms, and we’re excited to integrate it into our upcoming solutions.”

    Robert CL Lin, President of Enterprise and Networking Business Group, Wistron
    “Broadcom’s Tomahawk Ultra sets a new benchmark in Open Ethernet for AI and HPC. Designed for GPU scale-up, the Tomahawk Ultra achieves 250ns latency at 51.2 Tbps, supporting 64B line-rate switching and lossless fabrics. This innovation represents a significant step forward for the industry. Wistron is seamlessly aligning these scalable AI systems, and the Tomahawk Ultra solution offering.”

    Johnson Hsu, Senior Vice President and General Manager, WNC
    “We’re proud to partner with Broadcom on the innovative Tomahawk Ultra. Purpose-built for the demands of AI and HPC, this advanced platform combines high performance with open Ethernet flexibility — enabling our customers to deploy scalable, reliable, and future-ready networks.”

    The MIL Network –

  • MIL-OSI: Broadcom Ships Tomahawk Ultra: Reimagining the Ethernet Switch for HPC and AI Scale-up

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., July 15, 2025 (GLOBE NEWSWIRE) — Broadcom Inc. (NASDAQ:AVGO), a global leader in semiconductor and infrastructure software solutions, today announced the shipment of its breakthrough Ethernet switch — the Tomahawk Ultra. Engineered to transform the Ethernet switch for high-performance computing (HPC) and AI workloads, Tomahawk Ultra delivers industry-leading ultra-low latency, massive throughput, and lossless networking.

    “Tomahawk Ultra is a testament to innovation, involving a multi-year effort by hundreds of engineers who reimagined every aspect of the Ethernet switch,” said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. “This highlights Broadcom’s commitment to invest in advancing Ethernet for high-performance networking and AI scale-up.”

    Shattering Myths, Redefining Performance

    Built from the ground up to meet the extreme demands of HPC environments and tightly coupled AI clusters, Tomahawk Ultra redefines what an Ethernet switch can deliver. Long perceived as higher-latency and lossy, Ethernet takes on a new role:

    • Ultra-low latency: Achieves 250ns switch latency at full 51.2 Tbps throughput.
    • High performance: Delivers line-rate switching performance even at minimum packet sizes of 64 bytes, supporting up to 77 billion packets per second.
    • Adaptable, optimized Ethernet headers: Reduces header overhead from 46 bytes down to as low as 10 bytes, while maintaining full Ethernet compliance —boosting network efficiency and enabling flexible, application-specific optimizations.
    • Lossless fabric: Implements Link Layer Retry (LLR) and Credit-Based Flow Control (CBFC) to eliminate packet loss and ensure reliability.

    “AI and HPC workloads are converging into tightly coupled accelerator clusters that demand supercomputer-class latency — critical for inference, reliability, and in-network intelligence from the fabric itself,” said Kunjan Sobhani, lead semiconductor analyst, Bloomberg Intelligence. “Demonstrating that open-standards Ethernet can now deliver sub-microsecond switching, lossless transport, and on-chip collectives marks a pivotal step toward meeting those demands of an AI scale-up stack — projected to be double digit billions in a few years.”

    Built for HPC and AI Scale-Up

    Tomahawk Ultra is optimized for the tightly coupled, low-latency communication patterns found in both high-performance computing systems and AI clusters. With ultra-low latency switching and adaptable optimized Ethernet headers, it provides predictable, high-efficiency performance for large-scale simulations, scientific computing, and synchronized AI model training and inference.

    When deployed with Scale-Up Ethernet (SUE specification available to the public here), Tomahawk Ultra enables sub-400ns XPU-to-XPU communication latency, including the switch transit time — setting a new benchmark for tightly synchronized AI compute at scale.

    By reducing Ethernet header overhead from 46 bytes to just 10 bytes, while maintaining full Ethernet compliance, Tomahawk Ultra dramatically improves network efficiency. This optimized header is adaptable per application, offering both flexibility and performance gains across diverse HPC and AI workloads.

    Tomahawk Ultra incorporates lossless fabric technology that eliminates packet drops during high-volume data transfer. Incorporating LLR, the switch detects link errors using Forward Error Correction and automatically retransmits packets, avoiding drops at the wire level. Simultaneously, CBFC prevents buffer overflows that traditionally caused packet loss. Together, these mechanisms create a truly lossless Ethernet fabric, delivering the level of reliability demanded by today’s most data-intensive workloads.

    Tomahawk Ultra also accelerates performance through In-Network Collectives solving one of the most persistent bottlenecks in AI and machine learning workloads. Rather than burdening XPUs with collective operations like AllReduce, Broadcast, or AllGather, Tomahawk Ultra executes these directly within the switch chip. This can reduce job completion time and improve utilization of expensive compute resources. Importantly, this capability is endpoint-agnostic, enabling immediate adoption across a wide range of system architectures and vendor ecosystems.

    Designed with innovations in topology-aware routing to support advanced HPC topologies including Dragonfly, Mesh and Torus, Tomahawk Ultra is also compliant with the UEC standard and embraces the openness and rich ecosystem of Ethernet networking.

    Introducing SUE-Lite

    As part of Broadcom’s Ethernet-forward strategy for AI scale-up, the company has introduced SUE-Lite — an optimized version of the SUE specification tailored for power and area-sensitive accelerator applications. SUE-Lite retains the key low-latency and lossless characteristics of full SUE, while further reducing the silicon footprint and power consumption of Ethernet interfaces on AI XPUs and CPUs.

    This lightweight variant enables easier integration of standards-compliant Ethernet fabrics in AI platforms, promoting broader adoption of Ethernet as the interconnect of choice in scale-up architectures.

    Platform for AI Scale-Up and HPC Scale-Out

    Together with the 102.4 Tbps Tomahawk 6, Tomahawk Ultra forms the foundation of a unified Ethernet architecture: enabling scale-up Ethernet for AI, and scale-out Ethernet for HPC and distributed workloads.

    Now Shipping

    Tomahawk Ultra is 100% pin-compatible with Tomahawk 5, ensuring a very fast time-to-market. It is shipping now for deployment in rack-scale AI training clusters and supercomputing environments. To learn more about the Broadcom Tomahawk Ultra family click here. Explore the full Scale-Up/Scale-Out media kit for resources and insights into Broadcom’s scalable solutions here.

    About Broadcom
    Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

    Broadcom, the pulse logo, and Connecting everything are among the trademarks of Broadcom. The term “Broadcom” refers to Broadcom Inc., and/or its subsidiaries. Other trademarks are the property of their respective owners.

    Press Contact:
    Jon Piazza
    Global Communications
    press.relations@broadcom.com
    Telephone: +1 310 498 5254

    Industry Quotes

    Michael KT Lee, Senior Vice President, Research and Development Center, Accton
    “Networking needs within an XPU node are as critical as those between nodes. With 51.2 Tbps Ethernet switching, 250-ns latency, credit-based flow control, and configurable optimized header, the Tomahawk Ultra is a perfect solution for building high-bandwidth, high-reliability, high-efficiency, and low-latency lossless systems ready for scale-up AI and HPC applications. Accton is excited to embrace the launch and collaborate closely with Broadcom to bring the Tomahawk Ultra solutions to the market.”

    Forrest Norrod, Executive Vice President and General Manager, Data Center Solutions Group, AMD
    “Low latency is essential to unleashing the full potential of AI — from reducing training times to powering real-time inference. By combining Broadcom’s new Tomahawk Ultra switch with AMD Instinct™ GPUs and EPYC™ processors, we’re enabling high-performance, standards-based Ethernet solutions for AI infrastructure. Together, we’re advancing an open ecosystem that brings our vision of AI everywhere, for everyone, closer to reality.”

    Simon Capper, Principal Engineer for AI networking, Arista Networks
    “Arista appreciates the combination of ultra-low latency and scale-Up Ethernet innovations of Tomahawk Ultra for AI networking. Once again Broadcom is setting the pace in the AI and the switch industry.”

    Shekar Ayyar, Chairman and CEO, Arrcus
    “The launch of Broadcom’s Tomahawk Ultra marks a groundbreaking advancement in Ethernet innovation, particularly for AI and HPC scale-up environments. With ultra-low latency and a lossless fabric, it significantly accelerates job completion times — critical for modern AI workloads. At Arrcus, we’re proud to champion an open, standards-based networking ecosystem. Combined with our high-performance ArcOS network operating system, customers can unlock scalable infrastructure that is both flexible and future-ready.”

    Wangson Wang, General Manager of Data Networks Infrastructure, Delta Electronics
    “Delta Electronics is constantly looking ahead, and we’re thrilled to confirm that our 51.2T Ethernet switch platform is ready to harness the full power of Broadcom’s Tomahawk Ultra chip. We see Tomahawk Ultra as a game-changer for AI scale-up and HPC. The collaboration between Delta and Broadcom demonstrates our dedication to pushing the boundaries of what is possible in Data Center network infrastructure. Building on the success of Delta’s current 800G switches, the newly launched Tomahawk Ultra chips enable us to deliver advanced solutions that offer not only unmatched performance and efficiency, but also high reliability and scalability for the most demanding network workloads — supporting rapid AI/ML network deployments for our customers.”

    Praveen Jain, Senior Vice President and General Manager, AI Clusters and Cloud Ready Data Center, HPE Networking
    “HPE is committed to delivering open, high-performance and easy-to-manage Ethernet-based solutions for the modern data center. We commend Broadcom on its new offering, and its ultra-low latency, high throughput and support for in-network collectives align perfectly with what today’s workloads demand. It reflects our shared vision for building the most advanced and open data center infrastructure solutions with operational simplicity at its core.”

    Saurabh Kulkarni, Vice President, AI Technical Product Management, Intel
    “Broadcom’s Tomahawk Ultra Series with its high throughput and ultra-low latency enables all-to-all connectivity across up to 64 Intel® Gaudi® 3 AI accelerators per rack with total HBM bandwidth of 76.8TB/s, capable of scaling the connectivity across multiple racks. This rack-level bandwidth unlocks new possibilities for training and real-time inference of the most complex LLMs, redefining industry SLAs. Through our collaboration with Broadcom, Intel is showcasing the open architecture and modular design advantage and full capability of our rack scale platform built for large-scale, global AI deployments.”

    Vincent Lin, General Manager, Inventec EBG
    “Inventec congratulates Broadcom on the launch of Tomahawk Ultra Ethernet switch, which significantly enhances the efficiency and sustainability of AI solutions by delivering the industry’s lowest switch latency, 250 nanoseconds, and leading power efficiency with 800W at 51.2T performance. At Inventec, our vision is to develop cutting-edge artificial intelligence products that drive sustainable change for humanity and the environment through close partnership with Broadcom to deliver high-performance, scalable solutions, supporting customers’ evolving AI and high-performance computing needs.”

    Kiyo Oishi, CEO, IPI
    “The Tomahawk Ultra represents a bold leap forward in AI workloads and HPC clusters, delivering an unmatched combination of bandwidth, latency, and cutting-edge features like In-Network Collectives and scale-up Ethernet. By leveraging non-proprietary Ethernet, the Tomahawk Ultra will empower customers to scale their data intensive applications with unparalleled performance, efficiency, and reliability — paving the way for groundbreaking innovations in data-intensive computing.”

    Andrew Qu, CEO, Micas Networks
    “Broadcom’s Tomahawk Ultra is a major step forward for scale-up Ethernet in AI and HPC. With 250ns latency, 51.2 Tbps switching, and advanced features like Link Layer Retry, In-Network Collectives, and the AI Fabric Header, it delivers the performance, reliability, and efficiency our customers need for AI at scale. Thanks to pin compatibility with Tomahawk 5, Micas can rapidly bring Tomahawk Ultra-based systems to market, enabling seamless upgrades to meet the demands of next-generation AI infrastructure.”

    Anshul Sadana, Founder and CEO, Nexthop AI
    “With Tomahawk Ultra, Broadcom has driven AI Networking to a new level, allowing us to enable a new generation of low latency and lossless scale-up Ethernet solutions. Along with Nexthop SONiC, we now offer some of the most efficient scale-up and UEC compatible scale-out Ethernet solutions for the world’s largest hyperscalers.”

    Mike Yang, President, Quanta Cloud Technology
    “At QCT, we are committed to delivering next-generation AI and HPC infrastructure that meets the demands of extreme scale, performance, and efficiency. Broadcom’s Tomahawk Ultra Ethernet switch is a game-changer for the AI era, enabling 51.2 Tbps of switching capacity with ultra-low 250ns latency to dramatically accelerate AI training and inferencing workloads. We are excited to continue collaborating with Broadcom to push the next frontier of AI with Ethernet-based infrastructure.”

    Vincent Ho, CEO of UfiSpace
    “The Tomahawk Ultra delivers high performance and full pin-to-pin compatibility with Tomahawk 5. This seamless upgrade path shortens our development cycle for next-generation platforms, and we’re excited to integrate it into our upcoming solutions.”

    Robert CL Lin, President of Enterprise and Networking Business Group, Wistron
    “Broadcom’s Tomahawk Ultra sets a new benchmark in Open Ethernet for AI and HPC. Designed for GPU scale-up, the Tomahawk Ultra achieves 250ns latency at 51.2 Tbps, supporting 64B line-rate switching and lossless fabrics. This innovation represents a significant step forward for the industry. Wistron is seamlessly aligning these scalable AI systems, and the Tomahawk Ultra solution offering.”

    Johnson Hsu, Senior Vice President and General Manager, WNC
    “We’re proud to partner with Broadcom on the innovative Tomahawk Ultra. Purpose-built for the demands of AI and HPC, this advanced platform combines high performance with open Ethernet flexibility — enabling our customers to deploy scalable, reliable, and future-ready networks.”

    The MIL Network –

  • MIL-OSI: Broadcom Ships Tomahawk Ultra: Reimagining the Ethernet Switch for HPC and AI Scale-up

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., July 15, 2025 (GLOBE NEWSWIRE) — Broadcom Inc. (NASDAQ:AVGO), a global leader in semiconductor and infrastructure software solutions, today announced the shipment of its breakthrough Ethernet switch — the Tomahawk Ultra. Engineered to transform the Ethernet switch for high-performance computing (HPC) and AI workloads, Tomahawk Ultra delivers industry-leading ultra-low latency, massive throughput, and lossless networking.

    “Tomahawk Ultra is a testament to innovation, involving a multi-year effort by hundreds of engineers who reimagined every aspect of the Ethernet switch,” said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. “This highlights Broadcom’s commitment to invest in advancing Ethernet for high-performance networking and AI scale-up.”

    Shattering Myths, Redefining Performance

    Built from the ground up to meet the extreme demands of HPC environments and tightly coupled AI clusters, Tomahawk Ultra redefines what an Ethernet switch can deliver. Long perceived as higher-latency and lossy, Ethernet takes on a new role:

    • Ultra-low latency: Achieves 250ns switch latency at full 51.2 Tbps throughput.
    • High performance: Delivers line-rate switching performance even at minimum packet sizes of 64 bytes, supporting up to 77 billion packets per second.
    • Adaptable, optimized Ethernet headers: Reduces header overhead from 46 bytes down to as low as 10 bytes, while maintaining full Ethernet compliance —boosting network efficiency and enabling flexible, application-specific optimizations.
    • Lossless fabric: Implements Link Layer Retry (LLR) and Credit-Based Flow Control (CBFC) to eliminate packet loss and ensure reliability.

    “AI and HPC workloads are converging into tightly coupled accelerator clusters that demand supercomputer-class latency — critical for inference, reliability, and in-network intelligence from the fabric itself,” said Kunjan Sobhani, lead semiconductor analyst, Bloomberg Intelligence. “Demonstrating that open-standards Ethernet can now deliver sub-microsecond switching, lossless transport, and on-chip collectives marks a pivotal step toward meeting those demands of an AI scale-up stack — projected to be double digit billions in a few years.”

    Built for HPC and AI Scale-Up

    Tomahawk Ultra is optimized for the tightly coupled, low-latency communication patterns found in both high-performance computing systems and AI clusters. With ultra-low latency switching and adaptable optimized Ethernet headers, it provides predictable, high-efficiency performance for large-scale simulations, scientific computing, and synchronized AI model training and inference.

    When deployed with Scale-Up Ethernet (SUE specification available to the public here), Tomahawk Ultra enables sub-400ns XPU-to-XPU communication latency, including the switch transit time — setting a new benchmark for tightly synchronized AI compute at scale.

    By reducing Ethernet header overhead from 46 bytes to just 10 bytes, while maintaining full Ethernet compliance, Tomahawk Ultra dramatically improves network efficiency. This optimized header is adaptable per application, offering both flexibility and performance gains across diverse HPC and AI workloads.

    Tomahawk Ultra incorporates lossless fabric technology that eliminates packet drops during high-volume data transfer. Incorporating LLR, the switch detects link errors using Forward Error Correction and automatically retransmits packets, avoiding drops at the wire level. Simultaneously, CBFC prevents buffer overflows that traditionally caused packet loss. Together, these mechanisms create a truly lossless Ethernet fabric, delivering the level of reliability demanded by today’s most data-intensive workloads.

    Tomahawk Ultra also accelerates performance through In-Network Collectives solving one of the most persistent bottlenecks in AI and machine learning workloads. Rather than burdening XPUs with collective operations like AllReduce, Broadcast, or AllGather, Tomahawk Ultra executes these directly within the switch chip. This can reduce job completion time and improve utilization of expensive compute resources. Importantly, this capability is endpoint-agnostic, enabling immediate adoption across a wide range of system architectures and vendor ecosystems.

    Designed with innovations in topology-aware routing to support advanced HPC topologies including Dragonfly, Mesh and Torus, Tomahawk Ultra is also compliant with the UEC standard and embraces the openness and rich ecosystem of Ethernet networking.

    Introducing SUE-Lite

    As part of Broadcom’s Ethernet-forward strategy for AI scale-up, the company has introduced SUE-Lite — an optimized version of the SUE specification tailored for power and area-sensitive accelerator applications. SUE-Lite retains the key low-latency and lossless characteristics of full SUE, while further reducing the silicon footprint and power consumption of Ethernet interfaces on AI XPUs and CPUs.

    This lightweight variant enables easier integration of standards-compliant Ethernet fabrics in AI platforms, promoting broader adoption of Ethernet as the interconnect of choice in scale-up architectures.

    Platform for AI Scale-Up and HPC Scale-Out

    Together with the 102.4 Tbps Tomahawk 6, Tomahawk Ultra forms the foundation of a unified Ethernet architecture: enabling scale-up Ethernet for AI, and scale-out Ethernet for HPC and distributed workloads.

    Now Shipping

    Tomahawk Ultra is 100% pin-compatible with Tomahawk 5, ensuring a very fast time-to-market. It is shipping now for deployment in rack-scale AI training clusters and supercomputing environments. To learn more about the Broadcom Tomahawk Ultra family click here. Explore the full Scale-Up/Scale-Out media kit for resources and insights into Broadcom’s scalable solutions here.

    About Broadcom
    Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

    Broadcom, the pulse logo, and Connecting everything are among the trademarks of Broadcom. The term “Broadcom” refers to Broadcom Inc., and/or its subsidiaries. Other trademarks are the property of their respective owners.

    Press Contact:
    Jon Piazza
    Global Communications
    press.relations@broadcom.com
    Telephone: +1 310 498 5254

    Industry Quotes

    Michael KT Lee, Senior Vice President, Research and Development Center, Accton
    “Networking needs within an XPU node are as critical as those between nodes. With 51.2 Tbps Ethernet switching, 250-ns latency, credit-based flow control, and configurable optimized header, the Tomahawk Ultra is a perfect solution for building high-bandwidth, high-reliability, high-efficiency, and low-latency lossless systems ready for scale-up AI and HPC applications. Accton is excited to embrace the launch and collaborate closely with Broadcom to bring the Tomahawk Ultra solutions to the market.”

    Forrest Norrod, Executive Vice President and General Manager, Data Center Solutions Group, AMD
    “Low latency is essential to unleashing the full potential of AI — from reducing training times to powering real-time inference. By combining Broadcom’s new Tomahawk Ultra switch with AMD Instinct™ GPUs and EPYC™ processors, we’re enabling high-performance, standards-based Ethernet solutions for AI infrastructure. Together, we’re advancing an open ecosystem that brings our vision of AI everywhere, for everyone, closer to reality.”

    Simon Capper, Principal Engineer for AI networking, Arista Networks
    “Arista appreciates the combination of ultra-low latency and scale-Up Ethernet innovations of Tomahawk Ultra for AI networking. Once again Broadcom is setting the pace in the AI and the switch industry.”

    Shekar Ayyar, Chairman and CEO, Arrcus
    “The launch of Broadcom’s Tomahawk Ultra marks a groundbreaking advancement in Ethernet innovation, particularly for AI and HPC scale-up environments. With ultra-low latency and a lossless fabric, it significantly accelerates job completion times — critical for modern AI workloads. At Arrcus, we’re proud to champion an open, standards-based networking ecosystem. Combined with our high-performance ArcOS network operating system, customers can unlock scalable infrastructure that is both flexible and future-ready.”

    Wangson Wang, General Manager of Data Networks Infrastructure, Delta Electronics
    “Delta Electronics is constantly looking ahead, and we’re thrilled to confirm that our 51.2T Ethernet switch platform is ready to harness the full power of Broadcom’s Tomahawk Ultra chip. We see Tomahawk Ultra as a game-changer for AI scale-up and HPC. The collaboration between Delta and Broadcom demonstrates our dedication to pushing the boundaries of what is possible in Data Center network infrastructure. Building on the success of Delta’s current 800G switches, the newly launched Tomahawk Ultra chips enable us to deliver advanced solutions that offer not only unmatched performance and efficiency, but also high reliability and scalability for the most demanding network workloads — supporting rapid AI/ML network deployments for our customers.”

    Praveen Jain, Senior Vice President and General Manager, AI Clusters and Cloud Ready Data Center, HPE Networking
    “HPE is committed to delivering open, high-performance and easy-to-manage Ethernet-based solutions for the modern data center. We commend Broadcom on its new offering, and its ultra-low latency, high throughput and support for in-network collectives align perfectly with what today’s workloads demand. It reflects our shared vision for building the most advanced and open data center infrastructure solutions with operational simplicity at its core.”

    Saurabh Kulkarni, Vice President, AI Technical Product Management, Intel
    “Broadcom’s Tomahawk Ultra Series with its high throughput and ultra-low latency enables all-to-all connectivity across up to 64 Intel® Gaudi® 3 AI accelerators per rack with total HBM bandwidth of 76.8TB/s, capable of scaling the connectivity across multiple racks. This rack-level bandwidth unlocks new possibilities for training and real-time inference of the most complex LLMs, redefining industry SLAs. Through our collaboration with Broadcom, Intel is showcasing the open architecture and modular design advantage and full capability of our rack scale platform built for large-scale, global AI deployments.”

    Vincent Lin, General Manager, Inventec EBG
    “Inventec congratulates Broadcom on the launch of Tomahawk Ultra Ethernet switch, which significantly enhances the efficiency and sustainability of AI solutions by delivering the industry’s lowest switch latency, 250 nanoseconds, and leading power efficiency with 800W at 51.2T performance. At Inventec, our vision is to develop cutting-edge artificial intelligence products that drive sustainable change for humanity and the environment through close partnership with Broadcom to deliver high-performance, scalable solutions, supporting customers’ evolving AI and high-performance computing needs.”

    Kiyo Oishi, CEO, IPI
    “The Tomahawk Ultra represents a bold leap forward in AI workloads and HPC clusters, delivering an unmatched combination of bandwidth, latency, and cutting-edge features like In-Network Collectives and scale-up Ethernet. By leveraging non-proprietary Ethernet, the Tomahawk Ultra will empower customers to scale their data intensive applications with unparalleled performance, efficiency, and reliability — paving the way for groundbreaking innovations in data-intensive computing.”

    Andrew Qu, CEO, Micas Networks
    “Broadcom’s Tomahawk Ultra is a major step forward for scale-up Ethernet in AI and HPC. With 250ns latency, 51.2 Tbps switching, and advanced features like Link Layer Retry, In-Network Collectives, and the AI Fabric Header, it delivers the performance, reliability, and efficiency our customers need for AI at scale. Thanks to pin compatibility with Tomahawk 5, Micas can rapidly bring Tomahawk Ultra-based systems to market, enabling seamless upgrades to meet the demands of next-generation AI infrastructure.”

    Anshul Sadana, Founder and CEO, Nexthop AI
    “With Tomahawk Ultra, Broadcom has driven AI Networking to a new level, allowing us to enable a new generation of low latency and lossless scale-up Ethernet solutions. Along with Nexthop SONiC, we now offer some of the most efficient scale-up and UEC compatible scale-out Ethernet solutions for the world’s largest hyperscalers.”

    Mike Yang, President, Quanta Cloud Technology
    “At QCT, we are committed to delivering next-generation AI and HPC infrastructure that meets the demands of extreme scale, performance, and efficiency. Broadcom’s Tomahawk Ultra Ethernet switch is a game-changer for the AI era, enabling 51.2 Tbps of switching capacity with ultra-low 250ns latency to dramatically accelerate AI training and inferencing workloads. We are excited to continue collaborating with Broadcom to push the next frontier of AI with Ethernet-based infrastructure.”

    Vincent Ho, CEO of UfiSpace
    “The Tomahawk Ultra delivers high performance and full pin-to-pin compatibility with Tomahawk 5. This seamless upgrade path shortens our development cycle for next-generation platforms, and we’re excited to integrate it into our upcoming solutions.”

    Robert CL Lin, President of Enterprise and Networking Business Group, Wistron
    “Broadcom’s Tomahawk Ultra sets a new benchmark in Open Ethernet for AI and HPC. Designed for GPU scale-up, the Tomahawk Ultra achieves 250ns latency at 51.2 Tbps, supporting 64B line-rate switching and lossless fabrics. This innovation represents a significant step forward for the industry. Wistron is seamlessly aligning these scalable AI systems, and the Tomahawk Ultra solution offering.”

    Johnson Hsu, Senior Vice President and General Manager, WNC
    “We’re proud to partner with Broadcom on the innovative Tomahawk Ultra. Purpose-built for the demands of AI and HPC, this advanced platform combines high performance with open Ethernet flexibility — enabling our customers to deploy scalable, reliable, and future-ready networks.”

    The MIL Network –

  • MIL-OSI: Broadcom Ships Tomahawk Ultra: Reimagining the Ethernet Switch for HPC and AI Scale-up

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., July 15, 2025 (GLOBE NEWSWIRE) — Broadcom Inc. (NASDAQ:AVGO), a global leader in semiconductor and infrastructure software solutions, today announced the shipment of its breakthrough Ethernet switch — the Tomahawk Ultra. Engineered to transform the Ethernet switch for high-performance computing (HPC) and AI workloads, Tomahawk Ultra delivers industry-leading ultra-low latency, massive throughput, and lossless networking.

    “Tomahawk Ultra is a testament to innovation, involving a multi-year effort by hundreds of engineers who reimagined every aspect of the Ethernet switch,” said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. “This highlights Broadcom’s commitment to invest in advancing Ethernet for high-performance networking and AI scale-up.”

    Shattering Myths, Redefining Performance

    Built from the ground up to meet the extreme demands of HPC environments and tightly coupled AI clusters, Tomahawk Ultra redefines what an Ethernet switch can deliver. Long perceived as higher-latency and lossy, Ethernet takes on a new role:

    • Ultra-low latency: Achieves 250ns switch latency at full 51.2 Tbps throughput.
    • High performance: Delivers line-rate switching performance even at minimum packet sizes of 64 bytes, supporting up to 77 billion packets per second.
    • Adaptable, optimized Ethernet headers: Reduces header overhead from 46 bytes down to as low as 10 bytes, while maintaining full Ethernet compliance —boosting network efficiency and enabling flexible, application-specific optimizations.
    • Lossless fabric: Implements Link Layer Retry (LLR) and Credit-Based Flow Control (CBFC) to eliminate packet loss and ensure reliability.

    “AI and HPC workloads are converging into tightly coupled accelerator clusters that demand supercomputer-class latency — critical for inference, reliability, and in-network intelligence from the fabric itself,” said Kunjan Sobhani, lead semiconductor analyst, Bloomberg Intelligence. “Demonstrating that open-standards Ethernet can now deliver sub-microsecond switching, lossless transport, and on-chip collectives marks a pivotal step toward meeting those demands of an AI scale-up stack — projected to be double digit billions in a few years.”

    Built for HPC and AI Scale-Up

    Tomahawk Ultra is optimized for the tightly coupled, low-latency communication patterns found in both high-performance computing systems and AI clusters. With ultra-low latency switching and adaptable optimized Ethernet headers, it provides predictable, high-efficiency performance for large-scale simulations, scientific computing, and synchronized AI model training and inference.

    When deployed with Scale-Up Ethernet (SUE specification available to the public here), Tomahawk Ultra enables sub-400ns XPU-to-XPU communication latency, including the switch transit time — setting a new benchmark for tightly synchronized AI compute at scale.

    By reducing Ethernet header overhead from 46 bytes to just 10 bytes, while maintaining full Ethernet compliance, Tomahawk Ultra dramatically improves network efficiency. This optimized header is adaptable per application, offering both flexibility and performance gains across diverse HPC and AI workloads.

    Tomahawk Ultra incorporates lossless fabric technology that eliminates packet drops during high-volume data transfer. Incorporating LLR, the switch detects link errors using Forward Error Correction and automatically retransmits packets, avoiding drops at the wire level. Simultaneously, CBFC prevents buffer overflows that traditionally caused packet loss. Together, these mechanisms create a truly lossless Ethernet fabric, delivering the level of reliability demanded by today’s most data-intensive workloads.

    Tomahawk Ultra also accelerates performance through In-Network Collectives solving one of the most persistent bottlenecks in AI and machine learning workloads. Rather than burdening XPUs with collective operations like AllReduce, Broadcast, or AllGather, Tomahawk Ultra executes these directly within the switch chip. This can reduce job completion time and improve utilization of expensive compute resources. Importantly, this capability is endpoint-agnostic, enabling immediate adoption across a wide range of system architectures and vendor ecosystems.

    Designed with innovations in topology-aware routing to support advanced HPC topologies including Dragonfly, Mesh and Torus, Tomahawk Ultra is also compliant with the UEC standard and embraces the openness and rich ecosystem of Ethernet networking.

    Introducing SUE-Lite

    As part of Broadcom’s Ethernet-forward strategy for AI scale-up, the company has introduced SUE-Lite — an optimized version of the SUE specification tailored for power and area-sensitive accelerator applications. SUE-Lite retains the key low-latency and lossless characteristics of full SUE, while further reducing the silicon footprint and power consumption of Ethernet interfaces on AI XPUs and CPUs.

    This lightweight variant enables easier integration of standards-compliant Ethernet fabrics in AI platforms, promoting broader adoption of Ethernet as the interconnect of choice in scale-up architectures.

    Platform for AI Scale-Up and HPC Scale-Out

    Together with the 102.4 Tbps Tomahawk 6, Tomahawk Ultra forms the foundation of a unified Ethernet architecture: enabling scale-up Ethernet for AI, and scale-out Ethernet for HPC and distributed workloads.

    Now Shipping

    Tomahawk Ultra is 100% pin-compatible with Tomahawk 5, ensuring a very fast time-to-market. It is shipping now for deployment in rack-scale AI training clusters and supercomputing environments. To learn more about the Broadcom Tomahawk Ultra family click here. Explore the full Scale-Up/Scale-Out media kit for resources and insights into Broadcom’s scalable solutions here.

    About Broadcom
    Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

    Broadcom, the pulse logo, and Connecting everything are among the trademarks of Broadcom. The term “Broadcom” refers to Broadcom Inc., and/or its subsidiaries. Other trademarks are the property of their respective owners.

    Press Contact:
    Jon Piazza
    Global Communications
    press.relations@broadcom.com
    Telephone: +1 310 498 5254

    Industry Quotes

    Michael KT Lee, Senior Vice President, Research and Development Center, Accton
    “Networking needs within an XPU node are as critical as those between nodes. With 51.2 Tbps Ethernet switching, 250-ns latency, credit-based flow control, and configurable optimized header, the Tomahawk Ultra is a perfect solution for building high-bandwidth, high-reliability, high-efficiency, and low-latency lossless systems ready for scale-up AI and HPC applications. Accton is excited to embrace the launch and collaborate closely with Broadcom to bring the Tomahawk Ultra solutions to the market.”

    Forrest Norrod, Executive Vice President and General Manager, Data Center Solutions Group, AMD
    “Low latency is essential to unleashing the full potential of AI — from reducing training times to powering real-time inference. By combining Broadcom’s new Tomahawk Ultra switch with AMD Instinct™ GPUs and EPYC™ processors, we’re enabling high-performance, standards-based Ethernet solutions for AI infrastructure. Together, we’re advancing an open ecosystem that brings our vision of AI everywhere, for everyone, closer to reality.”

    Simon Capper, Principal Engineer for AI networking, Arista Networks
    “Arista appreciates the combination of ultra-low latency and scale-Up Ethernet innovations of Tomahawk Ultra for AI networking. Once again Broadcom is setting the pace in the AI and the switch industry.”

    Shekar Ayyar, Chairman and CEO, Arrcus
    “The launch of Broadcom’s Tomahawk Ultra marks a groundbreaking advancement in Ethernet innovation, particularly for AI and HPC scale-up environments. With ultra-low latency and a lossless fabric, it significantly accelerates job completion times — critical for modern AI workloads. At Arrcus, we’re proud to champion an open, standards-based networking ecosystem. Combined with our high-performance ArcOS network operating system, customers can unlock scalable infrastructure that is both flexible and future-ready.”

    Wangson Wang, General Manager of Data Networks Infrastructure, Delta Electronics
    “Delta Electronics is constantly looking ahead, and we’re thrilled to confirm that our 51.2T Ethernet switch platform is ready to harness the full power of Broadcom’s Tomahawk Ultra chip. We see Tomahawk Ultra as a game-changer for AI scale-up and HPC. The collaboration between Delta and Broadcom demonstrates our dedication to pushing the boundaries of what is possible in Data Center network infrastructure. Building on the success of Delta’s current 800G switches, the newly launched Tomahawk Ultra chips enable us to deliver advanced solutions that offer not only unmatched performance and efficiency, but also high reliability and scalability for the most demanding network workloads — supporting rapid AI/ML network deployments for our customers.”

    Praveen Jain, Senior Vice President and General Manager, AI Clusters and Cloud Ready Data Center, HPE Networking
    “HPE is committed to delivering open, high-performance and easy-to-manage Ethernet-based solutions for the modern data center. We commend Broadcom on its new offering, and its ultra-low latency, high throughput and support for in-network collectives align perfectly with what today’s workloads demand. It reflects our shared vision for building the most advanced and open data center infrastructure solutions with operational simplicity at its core.”

    Saurabh Kulkarni, Vice President, AI Technical Product Management, Intel
    “Broadcom’s Tomahawk Ultra Series with its high throughput and ultra-low latency enables all-to-all connectivity across up to 64 Intel® Gaudi® 3 AI accelerators per rack with total HBM bandwidth of 76.8TB/s, capable of scaling the connectivity across multiple racks. This rack-level bandwidth unlocks new possibilities for training and real-time inference of the most complex LLMs, redefining industry SLAs. Through our collaboration with Broadcom, Intel is showcasing the open architecture and modular design advantage and full capability of our rack scale platform built for large-scale, global AI deployments.”

    Vincent Lin, General Manager, Inventec EBG
    “Inventec congratulates Broadcom on the launch of Tomahawk Ultra Ethernet switch, which significantly enhances the efficiency and sustainability of AI solutions by delivering the industry’s lowest switch latency, 250 nanoseconds, and leading power efficiency with 800W at 51.2T performance. At Inventec, our vision is to develop cutting-edge artificial intelligence products that drive sustainable change for humanity and the environment through close partnership with Broadcom to deliver high-performance, scalable solutions, supporting customers’ evolving AI and high-performance computing needs.”

    Kiyo Oishi, CEO, IPI
    “The Tomahawk Ultra represents a bold leap forward in AI workloads and HPC clusters, delivering an unmatched combination of bandwidth, latency, and cutting-edge features like In-Network Collectives and scale-up Ethernet. By leveraging non-proprietary Ethernet, the Tomahawk Ultra will empower customers to scale their data intensive applications with unparalleled performance, efficiency, and reliability — paving the way for groundbreaking innovations in data-intensive computing.”

    Andrew Qu, CEO, Micas Networks
    “Broadcom’s Tomahawk Ultra is a major step forward for scale-up Ethernet in AI and HPC. With 250ns latency, 51.2 Tbps switching, and advanced features like Link Layer Retry, In-Network Collectives, and the AI Fabric Header, it delivers the performance, reliability, and efficiency our customers need for AI at scale. Thanks to pin compatibility with Tomahawk 5, Micas can rapidly bring Tomahawk Ultra-based systems to market, enabling seamless upgrades to meet the demands of next-generation AI infrastructure.”

    Anshul Sadana, Founder and CEO, Nexthop AI
    “With Tomahawk Ultra, Broadcom has driven AI Networking to a new level, allowing us to enable a new generation of low latency and lossless scale-up Ethernet solutions. Along with Nexthop SONiC, we now offer some of the most efficient scale-up and UEC compatible scale-out Ethernet solutions for the world’s largest hyperscalers.”

    Mike Yang, President, Quanta Cloud Technology
    “At QCT, we are committed to delivering next-generation AI and HPC infrastructure that meets the demands of extreme scale, performance, and efficiency. Broadcom’s Tomahawk Ultra Ethernet switch is a game-changer for the AI era, enabling 51.2 Tbps of switching capacity with ultra-low 250ns latency to dramatically accelerate AI training and inferencing workloads. We are excited to continue collaborating with Broadcom to push the next frontier of AI with Ethernet-based infrastructure.”

    Vincent Ho, CEO of UfiSpace
    “The Tomahawk Ultra delivers high performance and full pin-to-pin compatibility with Tomahawk 5. This seamless upgrade path shortens our development cycle for next-generation platforms, and we’re excited to integrate it into our upcoming solutions.”

    Robert CL Lin, President of Enterprise and Networking Business Group, Wistron
    “Broadcom’s Tomahawk Ultra sets a new benchmark in Open Ethernet for AI and HPC. Designed for GPU scale-up, the Tomahawk Ultra achieves 250ns latency at 51.2 Tbps, supporting 64B line-rate switching and lossless fabrics. This innovation represents a significant step forward for the industry. Wistron is seamlessly aligning these scalable AI systems, and the Tomahawk Ultra solution offering.”

    Johnson Hsu, Senior Vice President and General Manager, WNC
    “We’re proud to partner with Broadcom on the innovative Tomahawk Ultra. Purpose-built for the demands of AI and HPC, this advanced platform combines high performance with open Ethernet flexibility — enabling our customers to deploy scalable, reliable, and future-ready networks.”

    The MIL Network –

  • NHAI releases second sustainability report, showcases green milestones

    Source: Government of India

    Source: Government of India (4)

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

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

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

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

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

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

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

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

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

  • NHAI releases second sustainability report, showcases green milestones

    Source: Government of India

    Source: Government of India (4)

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

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

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

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

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

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

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

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

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

  • MIL-OSI United Kingdom: Mayor of London issues high pollution alert

    Source: Mayor of London

    City Hall has triggered a ‘high’ air pollution alert in London tomorrow (Saturday 21 June) as sunny and hot weather with temperatures above 30C are forecast, which is expected to create ‘High’ ozone levels as the strong and prolonged heat and sunshine reacts with any present pollution.

    Imperial College London forecasters advised City Hall to issue the alert, with air flow from mainland Europe expected to bring in additional pollutants from urban and industrial sources.

    City Hall issues alerts to Londoners, schools and local boroughs when moderate, high or very high air pollution is forecast. High air pollution alerts are also displayed at public locations across London, including all bus stop countdown signs, as well as on the Underground.

    The Deputy Mayor for Environment and Energy, Mete Coban said: “London’s toxic air is responsible for around 4,000 premature deaths in the capital each year, which is why the Mayor has done everything in his power to tackle it, including launching the world’s largest clean air zone.

    “We are urging Londoners to look after themselves in this pollution alert during the hot weather, stop their engines idling, and refrain from burning wood or garden waste – all of which contribute to high levels of pollution. This is particularly important in order to protect those who are most vulnerable as we continue working to build a safer and greener London for all.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Research Guides in Focus – Intellectual Property Law: A Beginner’s Guide

    Source: US Global Legal Monitor

    The Law Library of Congress is pleased to announce the publication of the new research guide, Intellectual Property Law: A Beginner’s Guide. This guide provides an overview of resources for researching patent, copyright, and trademark law.

    The guide begins with a general explanation of intellectual property, followed by print and online resources for further learning about the subject. There are also tabs for resources specific to patent, copyright, and trademark law. For each area of intellectual property law, we have gathered secondary sources, statutes, regulations, treaties, databases for searching records, case law sources, lists of organizations that can assist with applications for protection, and other online resources.

    We hope that this guide will be a valuable resource for researchers seeking to learn more about intellectual property laws, researchers searching for existing patent, copyright, and trademark records, and researchers who want to learn about the processes to apply for protection for their intellectual property. As always, we encourage researchers who have further questions, comments, or feedback about this guide to reach out to us through Ask a Librarian.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI USA: Hoyle, Wyden, Merkley, Salinas, Dexter Announce $5.15 Million for Airports Across Oregon

    Source: US Representative Val Hoyle (OR-04)

    July 15, 2025

    Federal funds coming to airports in Aurora, Portland, Newport, Salem, John Day and Brookings.

    For Immediate Release: July 15, 2025 

    WASHINGTON, D.C.  – Yesterday, U.S. Representative Val Hoyle along with, U.S. Senators Ron Wyden and Jeff Merkley, and Reps. Andrea Salinas and Maxine Dexter announced $5.15 million combined in federal infrastructure investments at airports in Newport, Brookings, Aurora, Portland, Salem, and John Day.

    “Reliable, modern airport infrastructure is essential for the safety and economic vitality of our coastal communities,” said Rep. Hoyle. “These grants provide almost $750,000 in federal funding for the Newport and Brookings airports to input a new weather monitoring system, lighting upgrades, and essential safety equipment that will improve operations for pilots, emergency responders, and travelers alike. These investments are a win for public safety, regional connectivity, and the long-term resilience of Oregon’s South Coast.”

    “Airports big and small are critical to keeping communities across the state connected and prepared to respond to natural disasters that include wildfires, winter weather and more,” Senator Wyden said. “These federal investments will help bolster local economies, improveservice and enhance safety. I applaud these investments and will continue to fight for similar investments for Oregon airports in the future.”

    “Oregon’s regional airports serve as vital hubs for our communities and economies – supporting local businesses, connecting travelers to world-class recreational opportunities, and providing essential lifelines during natural disasters,” Senator Merkley said. “This federal funding will allow Oregon regional airports to make critical infrastructure improvements that will benefit our communities and economy.? I’ll fight to protect the efficiency and safety of Oregon’s airports and the folks who rely on them for business, travel, and so much more.”?

    “As the Willamette Valley continues to grow and economic opportunities expand, we must ensure Oregon has alternative and safe transportation routes,” said Rep. Salinas. “I’m proud to have helped secure this federal grant funding, which will improve the structural integrity of the tarmac so that the airport can continue safely serving our local community for years to come.”

    “Investments in airport infrastructure are investments in public safety, regional resilience, and economic vitality,” said Rep. Dexter. “Portland was recently named the top airport in the nation and this funding will only further help keep Oregonians safe and our communities connected.” 

    The $5.15 million in grants from the Federal Aviation Administration will be distributed as follows:

    • $696,721 to Portland International to rebuild 550 feet of existing east curtain wall in the main terminal entrance, including six revolving doors. 

    • $244,500 to McNary Field in Salem to rehabilitate 1,350 feet of existing paved taxiway to maintain its structural integrity and to extend its useful life.

    • $99,286 to Brookings Airport to install a new airport rotating beacon to enhance safety, rebuild a precision approach path indicator system and runway end identifier lights, and acquire and install a new wind cone navigational aid.

    “We are thankful to be awarded an FAA grant to help fund a vital upgrade of the automated weather observing system (AWOS) at Newport Municipal Airport. Weather conditions on the Oregon coast can change within minutes, and it is essential that our airport is able to continue to provide accurate data and information that keeps pilots and passengers safe on their journey to and from Newport. We are also grateful for the continued support of our Oregon legislators in helping us to secure funding for critical infrastructure and safety projects and equipment to support the needs of our community and the over 2 million annual visitors to Newport,” said Nina Vetter, Newport City Manager.

    Wyden, Merkley, Hoyle, Salinas and Dexter have all consistently supported airport infrastructure across Oregon. In June, Wyden, Merkley and Hoyle announced $9.7 million for rural airports across Oregon, in addition to another $1 million for airports on the Oregon Coast and Willamette Valley including Brookings and Aurora. In May, the Oregon delegation announced $22 million for airport infrastructure investments across the state. In September 2024, Wyden and Merkley announced $10 million in federal grants for airports in Medford and Prineville. In July 2024, Merkley, Wyden and Hoyle announced $17 million from the federal Airport Improvement Program for airports across Oregon.

    A web version of the release is here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Hoyle, Wyden, Merkley, Salinas, Dexter Announce $5.15 Million for Airports Across Oregon

    Source: US Representative Val Hoyle (OR-04)

    July 15, 2025

    Federal funds coming to airports in Aurora, Portland, Newport, Salem, John Day and Brookings.

    For Immediate Release: July 15, 2025 

    WASHINGTON, D.C.  – Yesterday, U.S. Representative Val Hoyle along with, U.S. Senators Ron Wyden and Jeff Merkley, and Reps. Andrea Salinas and Maxine Dexter announced $5.15 million combined in federal infrastructure investments at airports in Newport, Brookings, Aurora, Portland, Salem, and John Day.

    “Reliable, modern airport infrastructure is essential for the safety and economic vitality of our coastal communities,” said Rep. Hoyle. “These grants provide almost $750,000 in federal funding for the Newport and Brookings airports to input a new weather monitoring system, lighting upgrades, and essential safety equipment that will improve operations for pilots, emergency responders, and travelers alike. These investments are a win for public safety, regional connectivity, and the long-term resilience of Oregon’s South Coast.”

    “Airports big and small are critical to keeping communities across the state connected and prepared to respond to natural disasters that include wildfires, winter weather and more,” Senator Wyden said. “These federal investments will help bolster local economies, improveservice and enhance safety. I applaud these investments and will continue to fight for similar investments for Oregon airports in the future.”

    “Oregon’s regional airports serve as vital hubs for our communities and economies – supporting local businesses, connecting travelers to world-class recreational opportunities, and providing essential lifelines during natural disasters,” Senator Merkley said. “This federal funding will allow Oregon regional airports to make critical infrastructure improvements that will benefit our communities and economy.? I’ll fight to protect the efficiency and safety of Oregon’s airports and the folks who rely on them for business, travel, and so much more.”?

    “As the Willamette Valley continues to grow and economic opportunities expand, we must ensure Oregon has alternative and safe transportation routes,” said Rep. Salinas. “I’m proud to have helped secure this federal grant funding, which will improve the structural integrity of the tarmac so that the airport can continue safely serving our local community for years to come.”

    “Investments in airport infrastructure are investments in public safety, regional resilience, and economic vitality,” said Rep. Dexter. “Portland was recently named the top airport in the nation and this funding will only further help keep Oregonians safe and our communities connected.” 

    The $5.15 million in grants from the Federal Aviation Administration will be distributed as follows:

    • $696,721 to Portland International to rebuild 550 feet of existing east curtain wall in the main terminal entrance, including six revolving doors. 

    • $244,500 to McNary Field in Salem to rehabilitate 1,350 feet of existing paved taxiway to maintain its structural integrity and to extend its useful life.

    • $99,286 to Brookings Airport to install a new airport rotating beacon to enhance safety, rebuild a precision approach path indicator system and runway end identifier lights, and acquire and install a new wind cone navigational aid.

    “We are thankful to be awarded an FAA grant to help fund a vital upgrade of the automated weather observing system (AWOS) at Newport Municipal Airport. Weather conditions on the Oregon coast can change within minutes, and it is essential that our airport is able to continue to provide accurate data and information that keeps pilots and passengers safe on their journey to and from Newport. We are also grateful for the continued support of our Oregon legislators in helping us to secure funding for critical infrastructure and safety projects and equipment to support the needs of our community and the over 2 million annual visitors to Newport,” said Nina Vetter, Newport City Manager.

    Wyden, Merkley, Hoyle, Salinas and Dexter have all consistently supported airport infrastructure across Oregon. In June, Wyden, Merkley and Hoyle announced $9.7 million for rural airports across Oregon, in addition to another $1 million for airports on the Oregon Coast and Willamette Valley including Brookings and Aurora. In May, the Oregon delegation announced $22 million for airport infrastructure investments across the state. In September 2024, Wyden and Merkley announced $10 million in federal grants for airports in Medford and Prineville. In July 2024, Merkley, Wyden and Hoyle announced $17 million from the federal Airport Improvement Program for airports across Oregon.

    A web version of the release is here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Hoyle, Wyden, Merkley, Salinas, Dexter Announce $5.15 Million for Airports Across Oregon

    Source: US Representative Val Hoyle (OR-04)

    July 15, 2025

    Federal funds coming to airports in Aurora, Portland, Newport, Salem, John Day and Brookings.

    For Immediate Release: July 15, 2025 

    WASHINGTON, D.C.  – Yesterday, U.S. Representative Val Hoyle along with, U.S. Senators Ron Wyden and Jeff Merkley, and Reps. Andrea Salinas and Maxine Dexter announced $5.15 million combined in federal infrastructure investments at airports in Newport, Brookings, Aurora, Portland, Salem, and John Day.

    “Reliable, modern airport infrastructure is essential for the safety and economic vitality of our coastal communities,” said Rep. Hoyle. “These grants provide almost $750,000 in federal funding for the Newport and Brookings airports to input a new weather monitoring system, lighting upgrades, and essential safety equipment that will improve operations for pilots, emergency responders, and travelers alike. These investments are a win for public safety, regional connectivity, and the long-term resilience of Oregon’s South Coast.”

    “Airports big and small are critical to keeping communities across the state connected and prepared to respond to natural disasters that include wildfires, winter weather and more,” Senator Wyden said. “These federal investments will help bolster local economies, improveservice and enhance safety. I applaud these investments and will continue to fight for similar investments for Oregon airports in the future.”

    “Oregon’s regional airports serve as vital hubs for our communities and economies – supporting local businesses, connecting travelers to world-class recreational opportunities, and providing essential lifelines during natural disasters,” Senator Merkley said. “This federal funding will allow Oregon regional airports to make critical infrastructure improvements that will benefit our communities and economy.? I’ll fight to protect the efficiency and safety of Oregon’s airports and the folks who rely on them for business, travel, and so much more.”?

    “As the Willamette Valley continues to grow and economic opportunities expand, we must ensure Oregon has alternative and safe transportation routes,” said Rep. Salinas. “I’m proud to have helped secure this federal grant funding, which will improve the structural integrity of the tarmac so that the airport can continue safely serving our local community for years to come.”

    “Investments in airport infrastructure are investments in public safety, regional resilience, and economic vitality,” said Rep. Dexter. “Portland was recently named the top airport in the nation and this funding will only further help keep Oregonians safe and our communities connected.” 

    The $5.15 million in grants from the Federal Aviation Administration will be distributed as follows:

    • $696,721 to Portland International to rebuild 550 feet of existing east curtain wall in the main terminal entrance, including six revolving doors. 

    • $244,500 to McNary Field in Salem to rehabilitate 1,350 feet of existing paved taxiway to maintain its structural integrity and to extend its useful life.

    • $99,286 to Brookings Airport to install a new airport rotating beacon to enhance safety, rebuild a precision approach path indicator system and runway end identifier lights, and acquire and install a new wind cone navigational aid.

    “We are thankful to be awarded an FAA grant to help fund a vital upgrade of the automated weather observing system (AWOS) at Newport Municipal Airport. Weather conditions on the Oregon coast can change within minutes, and it is essential that our airport is able to continue to provide accurate data and information that keeps pilots and passengers safe on their journey to and from Newport. We are also grateful for the continued support of our Oregon legislators in helping us to secure funding for critical infrastructure and safety projects and equipment to support the needs of our community and the over 2 million annual visitors to Newport,” said Nina Vetter, Newport City Manager.

    Wyden, Merkley, Hoyle, Salinas and Dexter have all consistently supported airport infrastructure across Oregon. In June, Wyden, Merkley and Hoyle announced $9.7 million for rural airports across Oregon, in addition to another $1 million for airports on the Oregon Coast and Willamette Valley including Brookings and Aurora. In May, the Oregon delegation announced $22 million for airport infrastructure investments across the state. In September 2024, Wyden and Merkley announced $10 million in federal grants for airports in Medford and Prineville. In July 2024, Merkley, Wyden and Hoyle announced $17 million from the federal Airport Improvement Program for airports across Oregon.

    A web version of the release is here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Strickland Tackles Extreme Heat and Modernizes Transit Corridors 

    Source: United States House of Representatives – Congresswoman Marilyn Strickland (WA-10)

    Washington, D.C. – Today, Congresswoman Marilyn Strickland (WA-10) and Congressman Mike Lawler (NY-17) introduced the Cool Corridors Act of 2025. The bipartisan legislation focuses on mitigating extreme heat in urban areas by investing in tree canopies and shade infrastructure along transit corridors, sidewalks, bus stops, school zones, and underserved neighborhoods. 

    “As temperatures climb and heatwaves become more severe, we must ensure our communities are equipped to stay cool, safe, and livable,” said Strickland. “My bill promotes smart investments to improve public health, improve our infrastructure, make our communities more walkable and resilient.” 

    “In the Lower Hudson Valley, extreme heat causes serious damage to our roads, sidewalks, and public spaces, impacting families’ daily routines and expenses during the hottest months of the year. This bill will cool down our streets and transit corridors, helping protect our infrastructure and create safer, more comfortable neighborhoods for everyone. By investing in public works projects now, we will save taxpayers’ money in the long run and improve the quality of life for our communities,” said Congressman Mike Lawler (NY-17), Co-Chair of the Extreme Heat Caucus. 

    “At Trust for Public Land, we know that access to nature isn’t a luxury — it’s a lifeline. That’s why we support this effort to reauthorize the Healthy Streets Program,” said Dr. Carrie Besnette Hauser, President and CEO of Trust for Public Land. “Through our work with communities across the country, we’ve witnessed the transformative power of trees, and how planting them in urban and rural neighborhoods alike results in added shade along with cleaner air, improved health outcomes, more local jobs, and documented protection from extreme temperatures and climate events.” 

    “Extreme heat is now the deadliest weather-related hazard in the U.S., and it’s only getting worse. Trees are one of our most effective defenses—especially in the places where people are most exposed, like sidewalks, transit corridors, and bus stops. The Cool Corridors Act delivers smart, science-based investments in shade where people need it most. It’s a practical, proven way to protect public health and create safer, more connected neighborhoods. Led by Representatives Strickland and Rep. Lawler, this is bipartisan leadership turning down the temperature on extreme heat. We thank them for the coolest legislation of the summer and for championing life-saving, locally driven solutions that communities urgently need,” said Joel Pannell, Vice President of Urban Policy, American Forests. 

    The Cool Corridors Act aims to improve public health outcomes by addressing urban heat islands, reducing air and noise pollution, and decreasing stormwater runoff. Additionally, it promotes local workforce development through urban forestry job training, preserves existing roadside vegetation, and strengthens long-term maintenance and climate resilience strategies.  

    The bill also calls for interagency coordination across the Departments of Transportation, Energy, Agriculture, Housing and Urban Development, and the Environmental Protection Agency. It ensures accountability through community engagement and robust data reporting on environmental and public health outcomes. 

    House Co-Sponsors include: Rep. Eleanor Holmes Norton (DC), Rep. Alma Adams (NC-12), Rep. Shri Thanedar (MI-13), Rep. Dina Titus (NV-01), Rep. Doris Matsui (CA-07), Rep. Emanuel Cleaver (MO-05), Rep. Steven Cohen (TN-09), Rep. Greg Stanton (AZ-04), Rep. Yassamin Ansari (AZ-03), Rep. Sylvia Garcia (TX-29), Rep. Mary Gay Scanlon (PA-05), Rep. Raul Ruiz (CA-25), Rep. Timothy Kennedy (NY-26), Josh Harder (CA-09). 

    You can read the full legislation here. 

    Congresswoman Marilyn Strickland (WA-10) serves on the House Armed Services Committee and the House Transportation and Infrastructure Committee. She is Whip of the New Democrat Coalition, Secretary of the Congressional Black Caucus, and is one of the first Korean-American women elected to Congress. 

    ###

    MIL OSI USA News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Second Quarter 2025 Financial Highlights:

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

    Income Statement

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

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

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

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

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

    Balance Sheet

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

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

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

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

    Credit Quality

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

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

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

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

    Capital

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

    About White River Bancshares Company

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

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

    About the Region

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

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

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

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

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

    Forward Looking Statements

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Second Quarter 2025 Financial Highlights:

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

    Income Statement

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

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

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

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

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

    Balance Sheet

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

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

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

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

    Credit Quality

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

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

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

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

    Capital

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

    About White River Bancshares Company

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

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

    About the Region

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

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

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

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

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

    Forward Looking Statements

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

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

    The MIL Network –

  • MIL-OSI USA: Funding Crisis Leaves Defense Lawyers Working Without Pay

    Source: United States Courts

    The program that pays court-appointed private attorneys to represent indigent federal criminal defendants has run out of money, starting the clock on a painful three-month delay in paying these attorneys and their related service providers for constitutionally mandated legal work. 

    The funding crisis has prompted concern throughout the federal Judiciary that many of these private lawyers, known as panel attorneys, could decline new cases. That could leave defendants, even those on death row, without adequate representation.

    Judge Amy St. Eve, chair of the Judicial Conference’s Budget Committee, said, “The right of a criminal defendant to effective counsel regardless of the defendant’s economic status is guaranteed under our Constitution and the Criminal Justice Act. That fundamental right is at risk because we ran out of funding on July 3 to pay the private practice attorneys appointed to represent federal defendants.” 

    Panel attorneys are paid from funds appropriated by Congress to the Judicial Branch’s Defender Services program. Payments to panel attorneys have been suspended during previous congressional budget crises, but rarely for more than a few weeks in a single fiscal year.

    “These attorneys will not be paid until October 1 for the work they have done and for the work that we continue to ask them to do, unless the Judiciary receives supplemental funding from Congress before then,” St. Eve said. 

    Over 90 percent of defendants in federal criminal cases have court-appointed counsel, because they cannot afford their own lawyer. Nationwide, federal defenders’ organizations handle about 60 percent of publicly financed cases. The remaining 40 percent are assigned to private, qualified defense lawyers who agree to serve on a court’s Criminal Justice Act (CJA) panel.

    The continuing resolution to fund the government for fiscal year 2025 passed by Congress in March froze all Judicial Branch funding at the FY 2024 level, which resulted in panel attorney funding running out unusually early. Because of the hard freeze funding level, funding is not available within other Judiciary accounts to address the funding gap. 

    The Judiciary has been in communication with congressional appropriators about the need for $116 million in supplemental funding to mitigate these payment deferrals and avert a continuing crisis. 

    During recent congressional testimony, St. Eve said, “These disruptions in panel attorney payments negatively affect our panel attorneys, potentially reducing their willingness to accept future appointments and jeopardizing the ability to provide necessary and timely representation.”

    There are more than 12,000 private panel attorneys throughout the country who accept CJA assignments annually. About 85 percent of them work for small firms or are solo practitioners who can ill afford long delays in payments for their work. Significant amounts of work affected by the funding freeze have already been performed.

    Some of the attorneys “continue to work but are not getting paid, which obviously is a tremendous hardship, especially for small firms and solo practitioners,” said Judge Cathy Seibel, who chairs the Judicial Conference’s Defender Services Committee.

    The funding shortfall also affects specialists employed by the defense to help effectively present their clients’ cases, such as investigators, interpreters, and expert witnesses. Many of those vital roles may go unfilled for three months, with unpredictable consequences for the criminal justice system.

    For example, in the District of North Dakota, several long-tenured CJA attorneys recently resigned from the panel. The concern among many federal courts is that attorneys will decline appointments and trials will have to be postponed, leaving some defendants detained for longer than necessary or even compromising criminal cases if requirements under the Speedy Trial Act cannot be met.

    The work can’t simply be turned over to federal defender organizations across the country because those offices are already seriously understaffed. Federal defender offices have been under a hiring freeze for 17 of the past 24 months because of tight budgets from Congress. Many defender offices are experiencing increased burnout among employees working excessive overtime.

    Panel attorneys are paid an hourly rate of $175 in non-capital cases, and, in capital cases, a maximum hourly rate of $223, which are significantly lower than market rate. The rates include both attorney compensation and office overhead, such as rent, supplies, and equipment.

    Keep updated on the evolving situation. 

    MIL OSI USA News –