MIL-OSI Security: FEDERAL CHARGES FILED AGAINST PENSACOLA MAN FOR ARMED DRUG TRAFFICKING

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

PENSACOLA, FLORIDA – Carlton Shoemaker, 51, of Pensacola, Florida, has been indicted in federal court for three counts of possessing with the intent to distribute controlled substances, one count of possession of a firearm in furtherance of a drug trafficking offense, and one count of possession of a firearm by a convicted felon. John P. Heekin, United States Attorney for the Northern District of Florida announced the charge.

Shoemaker appeared before United States Magistrate Judge Zachary C. Bolitho at the United States Courthouse in Pensacola, Florida on July 22, 2025.

If convicted on all counts, Shoemaker faces up to life imprisonment.

The case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Florida Department of Law Enforcement. The case is being prosecuted by Assistant United States Attorney Jessica S. Etherton.

An indictment is merely an allegation by a grand jury that a defendant has committed a violation of federal criminal law and is not evidence of guilt. All defendants are presumed innocent and entitled to a fair trial, during which it will be the government’s burden to prove guilt beyond a reasonable doubt at trial.

This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) 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 United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

MIL Security OSI –

July 24, 2025

MIL-OSI Security: Fleming Island Felon Sentenced To Six Years In Prison For Illegally Possessing A Firearm

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Jacksonville, Florida – U.S. District Judge Harvey E. Schlesinger has sentenced Jason Stewart Karst II (37, Fleming Island) to six years in federal prison for possessing a firearm as a convicted felon. Karst entered a guilty plea in March 2025.

According to court documents, in April 2024, agents with the Bureau of Alcohol, Tobacco, Firearms, and Explosives received a complaint from a local shooting range that Karst and another individual had been shooting fully automatic firearms at the range. Surveillance video from the range showed Karst firing a fully automatic gun as well as a separate gun that was equipped with a silencer. Agents obtained a search warrant for a home owned by Karst and executed the warrant on May 1, 2024. During the search, agents found five silencers, a privately manufactured firearm that was equipped with a machinegun conversion device, and a pistol that was also equipped with a machinegun conversion device inside a large safe. The guns matched the appearance of the ones used by Karst at the shooting range. In addition, while agents were executing the search warrant, Karst drove up to the house. During a search of Karst’s car, officers with the Jacksonville Sheriff’s Office found a white powdery substance, over 20 grams of marijuana, a scale, a pistol without a serial number, and keys to the safe.

Karst was previously convicted of multiple felonies, including two convictions for possession of marijuana with the intent to sell or deliver, possession of a controlled substance with the intent to sell or deliver, attempted use of a minor to deliver a controlled substance, and possession of a firearm by a convicted felon. Therefore, he is prohibited from possessing firearms or ammunition under federal law. Additionally, contrary to federal law, the machinegun conversion devices and silencers were not registered in the National Firearms Registration and Transfer Record—a database maintained by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives, Clay County Sheriff’s Office, and the Jacksonville Sheriff’s Office. It was prosecuted by Assistant United States Attorney Elisibeth Adams.

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

MIL Security OSI –

July 24, 2025

MIL-OSI Security: Lewiston Man Pleads Guilty to Illegally Possessing a Firearm

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

PORTLAND, Maine: A Lewiston man pleaded guilty on Tuesday in U.S. District Court in Portland to being a felon in possession of a firearm.

According to court records, in January 2025, Lewiston police officers stopped a vehicle operated by Kulmiye Abukar Idris, 35, for traffic violations. Officers searched the vehicle and found a handgun. Idris was prohibited from possessing a firearm because of his prior felony conviction for gross sexual assault.

Idris faces up to 15 years in prison, a $250,000 fine, and supervised release for three years. He will be sentenced after the completion of a presentence investigative report by the U.S. Probation Office. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The Bureau of Alcohol, Tobacco, Firearms and Explosives and Lewiston Police Department investigated the case, with assistance from the Androscoggin County District Attorney’s Office.

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

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MIL Security OSI –

July 24, 2025

MIL-OSI USA: Kean Honors U.S. Coast Guard Hero Scott Ruskan on House Floor

Source: US Representative Tom Kean, Jr. (NJ-07)

Contact: Riley Pingree

(July 23, 2025) WASHINGTON, D.C. —Yesterday, Congressman Tom Kean, Jr. (NJ-07) took to the House floor to recognize the heroic actions of U.S. Coast Guard Petty Officer and Rescue Swimmer Scott Ruskan, a native of Oxford, New Jersey in Warren County.

Petty Officer Ruskan demonstrated extraordinary bravery during the recent catastrophic flooding in Central Texas. As the only triage coordinator on the scene, he and his crew rescued 165 children and adults from rising floodwaters. This life-saving effort was Petty Officer Ruskan’s very first rescue mission since completing his rescue swimmer training.

“Scott Ruskan is a true American hero,” said Congressman Kean. “Not only did he answer the call to serve by enlisting in the U.S. Coast Guard, but he displayed incredible courage by risking his life to save others during a time of crisis. I am deeply grateful to Petty Officer Ruskan and to all the first responders and volunteers who put their lives on the line to protect their fellow Americans. We thank you for your service and sacrifice.”

You can watch Congressman Kean’s floor speech HERE.

Congressman Kean also had the opportunity to meet with Petty Officer Ruskan during a reception on Capitol Hill yesterday, held in his honor for his heroic efforts.

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MIL OSI USA News –

July 24, 2025

MIL-OSI USA: Kean Honors U.S. Coast Guard Hero Scott Ruskan on House Floor

Source: US Representative Tom Kean, Jr. (NJ-07)

Contact: Riley Pingree

(July 23, 2025) WASHINGTON, D.C. —Yesterday, Congressman Tom Kean, Jr. (NJ-07) took to the House floor to recognize the heroic actions of U.S. Coast Guard Petty Officer and Rescue Swimmer Scott Ruskan, a native of Oxford, New Jersey in Warren County.

Petty Officer Ruskan demonstrated extraordinary bravery during the recent catastrophic flooding in Central Texas. As the only triage coordinator on the scene, he and his crew rescued 165 children and adults from rising floodwaters. This life-saving effort was Petty Officer Ruskan’s very first rescue mission since completing his rescue swimmer training.

“Scott Ruskan is a true American hero,” said Congressman Kean. “Not only did he answer the call to serve by enlisting in the U.S. Coast Guard, but he displayed incredible courage by risking his life to save others during a time of crisis. I am deeply grateful to Petty Officer Ruskan and to all the first responders and volunteers who put their lives on the line to protect their fellow Americans. We thank you for your service and sacrifice.”

You can watch Congressman Kean’s floor speech HERE.

Congressman Kean also had the opportunity to meet with Petty Officer Ruskan during a reception on Capitol Hill yesterday, held in his honor for his heroic efforts.

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MIL OSI USA News –

July 24, 2025

MIL-OSI Canada: Saskatchewan Wildfire Update – July 23

Source: Government of Canada regional news

Released on July 23, 2025

As of 11:00 a.m. on Wednesday, July 23, there are 50 active wildfires in Saskatchewan. Of those active fires, four are categorized as contained, 14 are not contained, 14 are ongoing assessments and 18 are listed as protecting values.

Eleven communities are currently under an evacuation order: Resort Subdivision of Lac La Plonge, La Plonge Reserve, Northern Village of Beauval, Northern Hamlet of Jans Bay, Patuanak/English River First Nation, Montreal Lake Cree Nation, Northern Village of Pinehouse, Canoe Lake Cree First Nation/Canoe Narrows, Île-à-la-Crosse, Resort Subdivision of Cole Bay and Resort Subdivision of Little Amyot Lake.

A full list of evacuated communities can be found on the Active Evacuations webpage.

Any evacuees should register through the Sask Evac Web Application and then call 1-855-559-5502 between 8 a.m. and 5 p.m. to have their needs assessed for additional assistance. Individuals who need help registering through the application can call the 855 Line for assistance.

Evacuees supported by the Canadian Red Cross should call 1-800-863-6582.

Due to the wildfire conditions continuing to impact communities and individuals in northern Saskatchewan, Corrections, Policing and Public Safety Minister Tim McLeod sent a letter to the Federal Minister of Emergency Management and Community Resilience and Public Safety Eleanor Olszewski requesting the following resources to assist in the wildfire response efforts:

Type 3 fire personnel, up to 300, that could be utilized for wildfire mop up operations. Logistical support, lodging, food and transportation may be required for the deployed type 3 personnel.
Medium and intermediate helicopters for bucketing and crew movement.
Value Protection kits – sprinkler and hoses for structure protection in various communities.
Water tenders / water haulers for assisting with wildfire mop up and fire mitigation in various communities.

The latest wildfire information, an interactive fire ban map, frequently asked questions, fire risk maps and fire prevention tips can be found at saskpublicsafety.ca.

For more information, review the current fire bans and restrictions in provincial parks and recreation sites.

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For more information, contact:

MIL OSI Canada News –

July 24, 2025

MIL-OSI United Kingdom: The prolonged suffering will have irreversible consequences that will last generations: Joint statement on conflict and hunger in Gaza

Source: United Kingdom – Executive Government & Departments 3

Speech

The prolonged suffering will have irreversible consequences that will last generations: Joint statement on conflict and hunger in Gaza

A joint statement by the Permanent Missions to the UN of the Dominican Republic, Estonia, France, Germany, Guyana, Ireland, Mexico, the Kingdom of the Netherlands, Norway, Sierra Leone, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.

It is unacceptable that man-made and avoidable conflict-induced hunger continues to afflict civilians in Gaza. The prolonged suffering will have irreversible consequences that will last generations.

From the May IPC Special Snapshot, we know that the Gaza Strip is facing a critical risk of famine. The entire population is facing high levels of acute food insecurity, with 500,000 people facing starvation and more than 70,000 children set to require treatment for acute malnutrition.

The latest figures are even more disturbing, and we are witnessing increased deaths due to malnutrition. This follows sustained denial of essential humanitarian assistance to civilians by Israel.

To address this crisis, we call on all parties to fully comply with their obligations under international law, including international humanitarian law. In particular, we call on Israel as the occupying power to adhere to its obligations under international law and UN Security Council Resolution 2417. Israel must:

Lift its restrictions on humanitarian aid and facilitate immediate, safe, rapid, unhindered and sustained humanitarian access by the UN and humanitarian organisations that ensures relief supplies at scale to civilians in need throughout Gaza.
Facilitate the effective delivery of life-saving nutrition, health, water, sanitation and other essential services by the UN and humanitarian organisations, as well as the fuel needed to sustain them.
Protect objects necessary for food production and distribution and facilitate the restoration of essential commercial supplies and market systems at scale.
Urgently ensure the protection of civilians, including aid workers, UN and associated personnel, and medical personnel, and allow their unrestricted access.

We urge all parties to do everything to support efforts to reach agreement on a new ceasefire and hostage release deal. While humanitarian assistance is essential, the answer to conflict-induced hunger is peace.

We need to ensure accountability for actors who deliberately cause or prolong conflict-induced hunger in violation of international law. Using starvation of civilians as a method of warfare may constitute a war crime.

All Member States should use their influence to address conflict-driven hunger in Gaza and promote compliance by all parties to the conflict with international law.

We call for rapid and full implementation of humanitarian commitments made by Israel including the steps agreed between Israel and the EU to improve the humanitarian situation in Gaza. This is imperative. We will follow delivery measures by Israel closely.

We must all support the work of the UN-coordinated humanitarian system in Gaza led by OCHA. It is best equipped to ensure aid is delivered to civilians, apply established strong aid diversion prevention systems and adhere with humanitarian principles.

UNRWA remains crucial to the delivery of humanitarian aid and essential services, despite increasing restrictions and attacks.

The new Israel-approved aid delivery model is dangerous and is not operating in accordance with humanitarian principles. We condemn the killing of well over 800 Palestinians, including children, seeking water and food.

The 20 July incident where people came under Israeli fire beside a WFP convoy was terrible. Humanitarian action must be based on humanity, neutrality, impartiality and independence.

We condemn the heinous attack by Hamas on October 7 2023. Hamas must release all hostages unconditionally now.

Immediate action is needed to address this debilitating suffering.

Published 23 July 2025

MIL OSI United Kingdom –

July 24, 2025

MIL-OSI United Nations: UN condemns deadly Russian strikes on Ukrainian capital as civilian toll mounts

Source: United Nations 2-b

According to the UN Human Rights Monitoring Mission in Ukraine (HRMMU), more than 30 locations across seven districts of Kyiv were struck in what it described as “the deadliest attack” on the Ukrainian capital in nearly a year.

“Last night’s attack exemplifies the grave threat posed by the tactic of deploying missiles and large numbers of drones simultaneously into populated areas,” said Danielle Bell, Head of HRMMU.

Humanitarian Coordinator for Ukraine, Matthias Schmale, also strongly condemned the attacks, which extended to Odesa, Zaporizhzhia and other areas.

“The people of Ukraine should not have to take cover in shelters night after night,” he said. “Each day, the war takes a devastating toll on civilians.”

In the southern port city of Odesa, strikes reportedly injured several civilians and damaged a kindergarten and a centre for children with special needs – places where children should feel safe. In Zaporizhzhia, residential buildings were hit.

First responders and humanitarian agencies are already on the ground, providing emergency care and supplies while assessing further needs.

Human toll rising

The barrage included 440 long-range drones and 32 missiles launched by Russian forces, HRMMU noted in a news release citing information from Ukrainian authorities, of which 175 drones and 14 missiles targeted Kyiv.

It marked the fourth time this month that more than 400 munitions were fired in a single night – far surpassing the 544 total launched during the entire month of June 2024.

Even before this latest attack, the human toll of such tactics had been rising sharply. HRMMU had already verified at least 29 civilian deaths and 126 injuries from long-range weapons in June alone.

The overall civilian casualty count in the first five months of 2025 is nearly 50 per cent higher than in the same period last year.

Mr. Schmale reiterated that attacks on civilians and civilian infrastructure are prohibited under international humanitarian law.

“Civilians, including children, must never be a target,” he said. “We must not normalize the war.”

Refugee crisis deepens

Meanwhile, the broader humanitarian crisis continues to deepen. The intense conflict, now in its third year since Russia’s full-scale invasion, has driven more than 6.3 million Ukrainians to seek refuge across Europe.

Most are women, children, and older persons, many of whom rely on temporary protection directives extended by host countries like the European Union (EU) and Moldova, according to a report released on Tuesday by Office of the UN High Commissioner for Refugees (UNHCR).

Noting the volatile situation in Ukraine, the agency urged the respective governments to maintain legal status for refugees until conditions allow for safe, dignified, and sustainable returns.

MIL OSI United Nations News –

July 24, 2025

MIL-OSI USA: First Teen Tech Council for New York

Source: US State of New York

overnor Kathy Hochul and Secretary Hillary Rodham Clinton today announced the launch of the New York School (NYS) x #HalfTheStory Teen Tech Council, a groundbreaking statewide initiative placing teens at the forefront of educational innovation. This new advisory group will empower students to lead the conversation on digital wellness and support phone-free learning environments across New York State as schools across the state prepare to implement Governor Hochul’s nation-leading distraction-free learning law for the 2025-2026 school year

“Launching the Teen Tech Council will help make sure New York’s Distraction-Free Schools is successfully implemented,” Governor Hochul said. “I’m fired up to be working with #HalfTheStory, the Clinton Foundation, and all of you with you to usher in a generational shift — bringing back meaningful interactions during such formative years and securing a healthier future.”

Secretary Hillary Rodham Clinton said, “Here at the Clinton Foundation, we’re guided by our belief that putting people first — putting people’s concerns, needs and hopes first — is essential to creating a better world. That starts with you. As the largest state to adopt a phone-free policy in schools, New York has the opportunity to show the rest of the country what we can accomplish when we combine the capacity of government and nonprofits with the energy of smart young leaders.

#HalfTheStory Founder and Executive Director Larissa May said, “Teens are often left out of the conversation when it comes to the policies that shape their lives, and in this case, teens are the missing piece of the bell-to-bell movement. #HalfTheStory is committed to identifying the next generation of digital activists and powering the movement from the bottom up. We’re training these future leaders at scale to make NYC the model for the world—in and outside the classroom—to support student wellbeing and digital citizenship. Teen work makes the dream work.”

The inaugural Teen Tech Council Board Meeting was held on July 22, 2025, in New York City. Co-hosted by the Governor’s Office and the Clinton Foundation in partnership with #HalfTheStory — a nonprofit committed to strengthening young people’s relationship with technology — the event marks a pivotal step in reimagining how students engage with tech in and out of the classroom.

As an extension of #HalfTheStory’s Civics Academy, an annual summer program for teens that aims to educate and empower today’s youth to learn effective activism, storytelling, and leadership techniques essential for driving global and local change, the Teen Tech Council is launching as a scaled state initiative, with teens from across New York joining from their districts. Students will be nominated by teachers and peers to help schools successfully implement bell-to-bell policies and create a shared culture of digital wellness — one that extends beyond the classroom into play, connection, and creativity.

Teens can apply now to join NYS x #HalfTheStory Teen Tech Council — or teachers can nominate a star student to help shape the future at: halfthestoryproject.com/teen-tech-council.

The launch of the council underscores Governor Hochul’s continued commitment to working with young people to ensure an equitable and successful rollout of a distraction-free environment in schools statewide. The Distraction-Free Schools law signed by Governor Hochul requires bell-to-bell smartphone restrictions in K-12 school districts statewide, starting this fall for the 2025-2026 school year. This law is part of Governor Hochul’s nation-leading commitment to protecting youth mental health and promoting student success in the digital age, following her action last year to win a first-in-the-nation law to restrict addictive social media feeds for minors.

In accordance with the Distraction Free Learning Law, public school districts statewide must finalize and publish their distraction-free policy by August 1. The Governor also recently launched a website with a policy FAQ, toolkit and other key information about the State law as a resource for districts as they finalize their policy. The Governor also recently highlighted that nearly 150 school districts across New York have already submitted their distraction-free policy.

Governor Hochul’s bell-to-bell policy creates a statewide standard for distraction-free schools in New York including:

Prohibits unsanctioned use of smartphones and other internet-enabled personal devices on school grounds in K-12 schools for the entire school day (from “bell to bell”), including classroom time and other settings like lunch and study hall periods
Allows schools to develop their own plans for storing smartphones during the day — giving administrators and teachers the flexibility to do what works best for their buildings and students
Secures $13.5 million in funding to be made available for schools that need assistance in purchasing storage solutions to help them go distraction-free
Requires schools to give parents a way to contact their kids during the day when necessary
Requires teachers, parents and students to be consulted in developing the local policy
Prevents inequitable discipline

Governor Hochul’s policy allows authorized access to simple cellphones without internet capability, as well as internet-enabled devices officially provided by their school for classroom instruction, such as laptops or tablets used as part of lesson plans.

Additionally, the Governor’s policy includes several exemptions to smartphone restrictions, including for students who require access to an internet-enabled device to manage a medical condition, where required by a student’s Individualized Education Program (IEP), for academic purposes or for other legitimate purposes, such as translation, family caregiving and emergencies.

MIL OSI USA News –

July 24, 2025

MIL-OSI: CVB Financial Corp. Reports Earnings for the Second Quarter 2025

Source: GlobeNewswire (MIL-OSI)

Second Quarter 2025

Net Earnings of $50.6 million, or $0.36 per share
Return on Average Assets of 1.34%
Efficiency Ratio of 45.6%
Net Interest Margin of 3.31%

Ontario, CA, July 23, 2025 (GLOBE NEWSWIRE) — CVB Financial Corp. (NASDAQ:CVBF) and its subsidiary, Citizens Business Bank (the “Company”), announced earnings for the quarter ended June 30, 2025.

CVB Financial Corp. reported net income of $50.6 million for the quarter ended June 30, 2025, compared with $51.1 million for the first quarter of 2025 and $50.0 million for the second quarter of 2024. Diluted earnings per share were $0.36 for the second quarter, compared to $0.36 for the prior quarter and $0.36 for the same period last year.

For the second quarter of 2025, annualized return on average equity (“ROAE”) was 9.06%, annualized return on average tangible common equity (“ROATCE”) was 14.08%, and annualized return on average assets (“ROAA”) was 1.34%.

David Brager, President and Chief Executive Officer of Citizens Business Bank, commented, “Citizens Business Bank’s performance in the second quarter demonstrates our continued financial strength and focus on our vision of serving the comprehensive financial needs of small to medium sized businesses and their owners. Our consistent financial performance is highlighted by our 193 consecutive quarters, or more than 48 years, of profitability, and our 143 consecutive quarters of paying cash dividends. I would like to thank our customers and associates for their continuing commitment and loyalty.”

Additional Highlights for the Second Quarter of 2025

Pre-provision / pretax income increased from $67.5 million in the first quarter of 2025 to $68.8 million
Cost of funds decreased to 1.03% from 1.04% in the first quarter of 2025
Deposits and customer repos grew by $123 million from the end of the first quarter of 2025
Loans decreased by $5 million from the end of the first quarter 2025
TCE Ratio of 10.0% & CET1 Ratio of 16.5%

INCOME STATEMENT HIGHLIGHTS

	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
	(Dollars in thousands, except per share amounts)
Net interest income	$	111,608		$	110,444		$	110,849		$	222,052		$	223,310
Recapture of (provision for) credit losses		–			2,000			–			2,000			–
Noninterest income		14,744			16,229			14,424			30,973			28,537
Noninterest expense		(57,557	)		(59,144	)		(56,497	)		(116,701	)		(116,268	)
Income taxes		(18,231	)		(18,425	)		(18,741	)		(36,656	)		(36,945	)
Net earnings	$	50,564		$	51,104		$	50,035		$	101,668		$	98,634
Earnings per common share:
Basic	$	0.36		$	0.37		$	0.36		$	0.72		$	0.71
Diluted	$	0.36		$	0.36		$	0.36		$	0.72		$	0.71

NIM		3.31	%		3.31	%		3.05	%		3.31	%		3.07	%
ROAA		1.34	%		1.37	%		1.24	%		1.35	%		1.22	%
ROAE		9.06	%		9.31	%		9.57	%		9.18	%		9.44	%
ROATCE		14.08	%		14.51	%		15.51	%		14.29	%		15.32	%
Efficiency ratio		45.55	%		46.69	%		45.10	%		46.12	%		46.17	%

Net Interest Income
Net interest income was $111.6 million for the second quarter of 2025, representing a $1.2 million, or 1.1%, increase from the first quarter of 2025, and a $0.8 million, or 0.7%, increase from the second quarter of 2024. Interest income increased by $1.2 million, or 0.84%, from the first quarter, while interest expense remained the same at $32.6 million in the second quarter of 2025.

The increase in net interest income of $0.8 million, or 0.7%, compared to the second quarter of 2024 was the net result of a $15.6 million decline in interest expense, that exceeded the $14.9 million decline in interest income. The decrease in interest expense was the result of a $1.19 billion decrease in average interest-bearing liabilities compared to the second quarter of 2024. The decline in interest-bearing liabilities was driven by a decrease in borrowings that resulted from the early redemptions of Bank Term Funding Program (“BTFP”) advances in the third quarter of 2024. The decrease in interest income was the result of a $1.11 billion decrease in average interest-earning assets, that coincided with the Company’s deleveraging strategy in the second half of 2024 resulting in the Company’s borrowings declining by $1.34 billion.

Net Interest Margin
Our tax equivalent net interest margin was 3.31% for the second quarter of 2025, compared to 3.31% for the first quarter of 2025 and 3.05% for the second quarter of 2024. The yield on our interest-earning assets for the second quarter of 2025 remained unchanged, at 4.28%, compared to the prior quarter, while our cost of funds decreased slightly to 1.03% for the second quarter of 2025, from 1.04% in the prior quarter. Loan yields remained unchanged for the second quarter of 2025 at 5.22%. The slight decrease in our cost of funds was primarily due to a two-basis point decrease in our cost of deposits, from .86% to .84%. The decrease in cost of deposits was partially offset by an increase in the average balance and cost of customer repurchase agreements. For the second quarter of 2025 average customer repurchase agreements were $376.6 million at a cost of 1.66%, compared to $317.3 million and 1.24% for the prior quarter.

Net interest margin for the second quarter of 2025 increased by 26-basis points compared to the second quarter of 2024, primarily as a result of 35-basis point decrease in cost of funds, to 1.03% for the second quarter of 2025, from 1.38% in the same quarter of last year. The decrease in cost of funds was primarily due to a $1.34 billion decline in average borrowings, which had an average cost of 4.79% in the second quarter of 2024. For the second quarter of 2025, the Company had average deposits and customer repurchase agreements of $12.18 billion, at an average cost of 0.87%, and average borrowings of $508.2 million, at an average cost of 4.61%, compared to the second quarter of 2024 in which borrowings averaged $1.85 billion, at an average cost of 4.79%, and average deposits and customer repurchase agreements of $12.17 billion had an average cost of 0.87%. The decrease in cost of funds, exceeded the modest decrease in interest earning asset yields from 4.37% for the second quarter of 2024 to 4.28% in the second quarter of 2025. The decrease in earning asset yields was impacted by a decrease in loan yields from 5.26% for the second quarter of 2024 to 5.22% for the second quarter of 2025, and a decrease in investment securities yields to 2.62% in the second quarter of 2025, from 2.71% for the second quarter of 2024. The decrease in investment yields was primarily the result of a $2.8 million decrease in the positive interest spread on pay-fixed swaps.

Earning Assets and Deposits
Average earning assets increased by $1.7 million compared to the first quarter of 2025 and declined by $1.12 billion when compared to the second quarter of 2024. The average balance in funds held at the Federal Reserve increased by $170.5 million in the second quarter of 2025 compared to the first quarter of 2025, while average loans decreased by $112.6 million and average investment securities decreased by $61.3 for the same period. Compared to the second quarter of 2024, the decrease in average earning assets was due to decreases of $376.7 million in average loans, $359.5 million in average investment securities, and $372.1 million in funds held at the Federal Reserve. The average balance on noninterest-bearing deposits increased by $45.3 million, or 0.65%, from the first quarter of 2025 and the average balance on interest-bearing deposits and customer repurchase agreements decreased by $51.2 million from the same period. Compared to the second quarter of 2024, the average balance on total deposits and customer repurchase agreements increased by $14.9 million, or 0.12%. On average, noninterest-bearing deposits were 60.47% of total deposits during the most recent quarter, compared to 59.92% for the first quarter of 2025 and 60.13% for the second quarter of 2024.

SELECTED FINANCIAL HIGHLIGHTS	Three Months Ended
	June 30, 2025					March 31, 2025					June 30, 2024
	(Dollars in thousands)
Yield on average investment securities (TE)	2.62%					2.63%					2.71%
Yield on average loans	5.22%					5.22%					5.26%
Yield on average earning assets (TE)	4.28%					4.28%					4.37%
Cost of deposits	0.84%					0.86%					0.88%
Cost of funds	1.03%					1.04%					1.38%
Net interest margin (TE)	3.31%					3.31%					3.05%

*Average Earning Asset Mix*	Avg		% of Total			Avg		% of Total			Avg		% of Total
Total investment securities	$	4,847,415		35.75	%	$	4,908,718		36.21	%	$	5,206,959		35.49	%
Interest-earning deposits with other institutions		337,929		2.49	%		162,389		1.20	%		716,916		4.89	%
Loans		8,354,898		61.63	%		8,467,465		62.46	%		8,731,587		59.51	%
Total interest-earning assets		13,558,254					13,556,584					14,673,474

Provision for Credit Losses
There was no provision for credit losses in the second quarter of 2025, compared to a $2.0 million recapture of provision for credit losses in the first quarter of 2025 and no provision in the second quarter of 2024. Net charge-offs for the second quarter of 2025 were $249,000 compared to net recoveries of $130,000 in the prior quarter. Allowance for credit losses represented 0.93% of gross loans at June 30, 2025 compared to 0.94% at March 31, 2025.

Noninterest Income
Noninterest income was $14.7 million for the second quarter of 2025, compared with $16.2 million for the first quarter of 2025 and $14.4 million for the second quarter of 2024. Noninterest income decreased in the second quarter of 2025 compared to the first quarter primarily due to a $2.2 million gain recognized during the first quarter of 2025 on the sale of four OREO properties. Excluding gains, noninterest income grew by approximately $700,000, including a $397,000 increase of income from Bank Owned Life Insurance (“BOLI”). BOLI income also increased in the second quarter of 2025 compared to the second quarter of 2024 by $285,000. Compared to the first quarter of 2025, Trust and investment services income grew by $304,000, or 8.9%, while growing by $287,000, or 8.4% over the second quarter of 2024.

Noninterest Expense
Noninterest expense for the second quarter of 2025 was $57.6 million, compared to $59.1 million for the first quarter of 2025 and $56.5 million for the second quarter of 2024. Noninterest expense decreased in the second quarter of 2025 compared to the first quarter of 2025 primarily due to a $500,000 provision for unfunded loan commitments in the first quarter of 2025 and a $1.5 million decrease in salaries and benefits. The decrease in staff expense was primarily due to higher payroll taxes in the first quarter, resulting in a $1.2 million decrease in the second quarter of 2025.

The year-over-year increase in noninterest expense of $1.1 million, includes the impact of a $500,000 expense reduction in the second quarter of 2024 related to a decrease in reserves for unfunded loan commitments and a $603,000 increase in regulatory assessment expenses. The increase in regulatory assessment expenses in the second quarter of 2025 was due to a $700,000 reduction of an FDIC special assessment accrual in the second quarter of 2024. As a percentage of average assets, noninterest expense was 1.52% for the second quarter of 2025, compared to 1.58% for the first quarter of 2025 and 1.40% for the second quarter of 2024. The efficiency ratio for the second quarter of 2025 was 45.6%, compared to 46.7% for the first quarter of 2025 and 45.1% for the second quarter of 2024.

Income Taxes
Our effective tax rate for the quarter ended June 30, 2025 was 26.50%, compared with 26.50% for the first quarter of 2025, and 27.25% for the same period of 2024. Our estimated annual effective tax rate can vary depending upon the level of tax-advantaged income from municipal securities and BOLI, as well as available tax credits.

BALANCE SHEET HIGHLIGHTS

Assets
The Company reported total assets of $15.41 billion at June 30, 2025. This represented an increase of $157.5 million, or 1.03%, from total assets of $15.26 billion at March 31, 2025. The increase in assets included a $202.5 million increase in interest-earning balances due from the Federal Reserve, offset by a $80.7 million decrease in investment securities, and a $5.1 million decrease in total loans.

Total assets increased by $260.5 million, or 1.72%, from total assets of $15.15 billion at December 31, 2024. The increase in assets included a $492.8 million increase in interest-earning balances due from the Federal Reserve, offset by a $108.2 million decrease in investment securities, and a $175.8 million decrease in net loans.

Total assets at June 30, 2025 decreased by $737.4 million, or 4.57%, from total assets of $16.15 billion at June 30, 2024. The decrease in assets was primarily due to a decrease of $362.1 million in investment securities, a decrease of $318.6 million in net loans and a $126.2 million decrease in interest-earning balances due from the Federal Reserve.

Investment Securities
Total investment securities were $4.81 billion at June 30, 2025, a decrease of $80.7 million, or 1.65% from the prior quarter end, a decrease of $108.2 million, or 2.20% from $4.92 billion at December 31, 2024, and a decrease of $362.1 million, or 7.00%, from $5.18 billion at June 30, 2024.

At June 30, 2025, investment securities held-to-maturity (“HTM”) totaled $2.33 billion, a decrease of $31.9 million, or 1.35% from prior quarter end, a decrease of $52.4 million, or 2.20% from December 31, 2024, and a decrease of $102.7 million, or 4.22%, from June 30, 2024.

At June 30, 2025, investment securities available-for-sale (“AFS”) totaled $2.49 billion, inclusive of a pre-tax net unrealized loss of $363.7 million. AFS securities decreased by $48.8 million, or 1.92% from the prior quarter end, decreased by $55.8 million, or 2.20% from December 31, 2024, and decreased by $259.5 million, or 9.45%, from $2.75 billion at June 30, 2024. The pre-tax unrealized loss decreased by $24.7 million from the end of the prior quarter, while decreasing $84 million from December 31, 2024 and decreasing by $124.2 million from June 30, 2024.

Loans
Total loans and leases, at amortized cost, of $8.36 billion at June 30, 2025 decreased by $5.1 million, or 0.06%, from March 31, 2025. The quarter-over quarter decrease in loans included decreases of $29.9 million in commercial and industrial loans, and $18.1 million in dairy and livestock loans, partially offset by increases of $26.8 million in commercial real estate loans and $18.9 million in single-family residential (“SFR”) mortgage loans.

Total loans and leases, at amortized cost, decreased by $177.9 million, or 2.08%, from December 31, 2024. The decrease includes decreases of $186.0 million in dairy and livestock loans and $12.8 million in commercial and industrial loans, offset by increases of $19.3 million in SFR mortgage loans and $10.0 million in commercial real estate loans.

Total loans and leases, at amortized cost, decreased by $323.3 million, or 3.72%, from June 30, 2024. The decrease included decreases of $147.5 million in commercial real estate loans, $116.8 million in dairy & livestock loans and agribusiness loans, $43.8 million in commercial and industrial loans, and $34.6 million in construction loans, offset by an increase of $20.8 million in SFR mortgage loans.

Asset Quality
During the second quarter of 2025, we experienced credit charge-offs of $429,000 and total recoveries of $180,000, resulting in net charge-offs of $249,000. The allowance for credit losses (“ACL”) totaled $78.0 million at June 30, 2025, compared to $78.3 million at March 31, 2025 and $82.8 million at June 30, 2024. At June 30, 2025, ACL as a percentage of total loans and leases outstanding was 0.93%. This compares to 0.94% at March 31, 2025 and December 31, 2024 and 0.95% at June 30, 2024.

Nonperforming loans, defined as nonaccrual loans, including modified loans on nonaccrual, plus loans 90 days past due and accruing interest, and nonperforming assets, defined as nonperforming plus OREO, are highlighted below.

Nonperforming Assets and Delinquency Trends	June 30,			March 31,			June 30,
	2025			2025			2024
Nonperforming loans	(Dollars in thousands)
Commercial real estate	$	24,379		$	24,379		$	21,908
SBA		1,265			1,024			337
Commercial and industrial		265			173			2,712
Dairy & livestock and agribusiness		60			60			–
Total	$	25,969		$	25,636		$	24,957
% of Total loans		0.31	%		0.31	%		0.29	%

OREO
Commercial real estate	$	661		$	495		$	–
SFR mortgage		–			–			647
Total	$	661		$	495		$	647

Total nonperforming assets	$	26,630		$	26,131		$	25,604
% of Nonperforming assets to total assets		0.17	%		0.17	%		0.16	%

Past due 30-89 days (accruing)
Commercial real estate	$	–		$	–		$	43
SBA		3,419			718			–
Commercial and industrial		–			–			103
Total	$	3,419		$	718		$	146
% of Total loans		0.04	%		0.01	%		0.00	%
Total nonperforming, OREO, and past due	$	30,049		$	26,849		$	25,750

Classified Loans	$	73,422		$	94,169		$	124,728

The $499,000 increase in nonperforming assets from March 31, 2025 was primarily due to the addition of one nonperforming SBA loan in the amount of $620,000. Classified loans are loans that are graded “substandard” or worse. Classified loans decreased $20.7 million quarter-over-quarter, primarily due to a decrease of $19.9 million in classified commercial real estate loans.

Deposits & Customer Repurchase Agreements
Deposits of $11.98 billion and customer repurchase agreements of $404.2 million totaled $12.39 billion at June 30, 2025. This represented a net increase of $122.9 million compared to $12.27 billion at March 31, 2025. Total deposits and customer repurchase agreements increased by $179 million compared to December 31, 2024 and increased $329.8 million, or 2.74% when compared to $12.06 billion at June 30, 2024.

Noninterest-bearing deposits were $7.25 billion at June 30, 2025, an increase of $62.9 million, or 0.87%, when compared to $7.18 billion at March 31, 2025. Noninterest-bearing deposits increased by $210.0 million, or 2.98%, when compared to $7.04 billion at December 31, 2024, and increased by $157.0 million, or 2.21% when compared to $7.09 billion at June 30, 2024. At June 30, 2025, noninterest-bearing deposits were 60.47% of total deposits, compared to 59.92% at March 31, 2025, 58.90% at December 31, 2024 and 60.13% at June 30, 2024.

Borrowings
As of June 30, 2025, total borrowings consisted of $500 million of FHLB advances. The FHLB advances include $300 million, at an average cost of approximately 4.73%, maturing in May of 2026, and $200 million, at a cost of 4.27% maturing in May of 2027. Total borrowings decreased by $1.3 billion from June 30, 2024. The $1.8 billion of borrowings at June 30, 2024 consisted of $500 million of FHLB advances and $1.3 billion from the Federal Reserve’s Bank Term Funding Program, at a cost of 4.76%, all of which were redeemed before the end of 2024.

Capital
The Company’s total equity was $2.24 billion at June 30, 2025. This represented an overall increase of $54.0 million from total equity of $2.19 billion at December 31, 2024. Increases to equity included $101.7 million in net earnings and a $43.9 million increase in other comprehensive income that were partially offset by $55.6 million in cash dividends. During the first half of 2025, we repurchased, under our stock repurchase plan, 2,063,564 shares of common stock, at an average repurchase price of $18.15, totaling $37.5 million. Our tangible book value per share at June 30, 2025 was $10.64.

Our capital ratios under the revised capital framework referred to as Basel III remain well-above regulatory standards.

		CVB Financial Corp. Consolidated
Capital Ratios	Minimum Required Plus Capital Conservation Buffer	June 30, 2025	December 31, 2024	June 30, 2024

Tier 1 leverage capital ratio	4.0%	11.8%	11.5%	10.5%
Common equity Tier 1 capital ratio	7.0%	16.5%	16.2%	15.3%
Tier 1 risk-based capital ratio	8.5%	16.5%	16.2%	15.3%
Total risk-based capital ratio	10.5%	17.3%	17.1%	16.1%

Tangible common equity ratio		10.0%	9.8%	8.7%

CitizensTrust
As of June 30, 2025 CitizensTrust had approximately $5.0 billion in assets under management and administration, including $3.54 billion in assets under management. Revenues were $3.7 million for the second quarter of 2025, compared to $3.4 million in the first quarter of 2025 and $3.4 million for the second quarter of 2024. CitizensTrust provides trust, investment and brokerage related services, as well as financial, estate and business succession planning.

Corporate Overview
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with more than $15 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services with more than 60 banking centers and three trust office locations serving California.

Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.

Conference Call
Management will hold a conference call at 7:30 a.m. PDT/10:30 a.m. EDT on Thursday, July 24, 2025, to discuss the Company’s second quarter 2025 financial results. The conference call can be accessed live by registering at: https://register-conf.media-server.com/register/BIe2ad85fddf3443dbacab8109594ab423

The conference call will also be simultaneously webcast over the Internet; please visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab to access the call from the site. Please access the website 15 minutes prior to the call to download any necessary audio software. This webcast will be recorded and available for replay on the Company’s website approximately two hours after the conclusion of the conference call and will be available on the website for approximately 12 months.

Safe Harbor
Certain statements set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will likely result”, “aims”, “anticipates”, “believes”, “could”, “estimates”, “expects”, “hopes”, “intends”, “may”, “plans”, “projects”, “seeks”, “should”, “will,” “strategy”, “possibility”, and variations of these words and similar expressions help to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results or performance to differ materially from those projected. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies, goals and statements about the Company’s outlook regarding revenue and asset growth, financial performance and profitability, capital and liquidity levels, loan and deposit levels, growth and retention, yields and returns, loan diversification and credit management, stockholder value creation, tax rates, the impact of business, economic, or political developments, the impact of monetary, fiscal and trade policies, and the impact of acquisitions we have made or may make. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company, and there can be no assurance that future developments affecting the Company will be the same as those anticipated by management. The Company cautions readers that a number of important factors, in addition to those set forth below, could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements.

General risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct business; the effects of, and changes in, immigration, trade, tariff, monetary, and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the effect of acquisitions we have made or may make, including, without limitation, the failure to obtain the necessary regulatory approvals, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target and key personnel into our operations; the timely development of competitive products and services and the acceptance of these products and services by new and existing customers; the impact of changes in financial services policies, laws, and regulations, including those concerning banking, taxes, securities, and insurance, and the application thereof by regulatory agencies; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; the transition away from USD LIBOR and uncertainties regarding potential alternative reference rates, including SOFR; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; possible credit related impairments or declines in the fair value of loans and securities held by us; possible impairment charges to goodwill on our balance sheet; changes in customer spending, borrowing, and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; periodic fluctuations in commercial or residential real estate prices or values; our ability to attract or retain deposits or to access government or private lending facilities and other sources of liquidity; the possibility that we may reduce or discontinue the payment of dividends on our common stock; changes in the financial performance and/or condition of our borrowers; changes in the competitive environment among financial and bank holding companies and other financial service providers; technological changes in banking and financial services; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, and/or military conflicts, which could impact business and economic conditions in the United States and abroad; catastrophic events or natural disasters, including earthquakes, drought, climate change or extreme weather events that may affect our assets, communications or computer services, customers, employees or third party vendors; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including on our asset credit quality, business operations, and employees, as well as the impact on general economic and financial market conditions; cybersecurity threats and fraud and the costs of defending against them, including the costs of compliance with legislation or regulations to combat fraud and cybersecurity threats; our ability to recruit and retain key executives, board members and other employees, and our ability to comply with federal and state in employment laws and regulations; ongoing or unanticipated regulatory or legal proceedings or outcomes; and our ability to manage the risks involved in the foregoing.

Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s 2024 Annual Report on Form 10-K filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).

The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

Non-GAAP Financial Measures — Certain financial information provided in this earnings release has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and is presented on a non-GAAP basis. Investors and analysts should refer to the reconciliations included in this earnings release and should consider the Company’s non-GAAP measures in addition to, not as a substitute for or as superior to, measures prepared in accordance with GAAP. These measures may or may not be comparable to similarly titled measures used by other companies.

Contact: David A. Brager
President and Chief
Executive Officer
(909) 980-4030

CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)


	June 30, 2025			December 31, 2024			June 30, 2024
Assets
Cash and due from banks	$	195,063		$	153,875		$	174,454
Interest-earning balances due from Federal Reserve		543,573			50,823			669,740
Total cash and cash equivalents		738,636			204,698			844,194
Interest-earning balances due from depository institutions		11,004			480			7,345
Investment securities available-for-sale		2,486,306			2,542,115			2,745,796
Investment securities held-to-maturity		2,327,230			2,379,668			2,429,886
Total investment securities		4,813,536			4,921,783			5,175,682
Investment in stock of Federal Home Loan Bank (FHLB)		18,012			18,012			18,012
Loans and lease finance receivables		8,358,501			8,536,432			8,681,846
Allowance for credit losses		(78,003	)		(80,122	)		(82,786	)
Net loans and lease finance receivables		8,280,498			8,456,310			8,599,060
Premises and equipment, net		26,606			27,543			43,232
Bank owned life insurance (BOLI)		320,596			316,248			314,329
Intangibles		7,657			9,967			12,416
Goodwill		765,822			765,822			765,822
Other assets		431,763			432,792			371,403
Total assets	$	15,414,130		$	15,153,655		$	16,151,495
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Noninterest-bearing	$	7,247,128		$	7,037,096		$	7,090,095
Investment checking		483,793			551,305			515,930
Savings and money market		3,669,912			3,786,387			3,409,320
Time deposits		583,990			573,593			774,980
Total deposits		11,984,823			11,948,381			11,790,325
Customer repurchase agreements		404,154			261,887			268,826
Other borrowings		500,000			500,000			1,800,000
Other liabilities		284,831			257,071			179,917
Total liabilities		13,173,808			12,967,339			14,039,068
Stockholders’ Equity
Stockholders’ equity		2,508,454			2,498,380			2,446,755
Accumulated other comprehensive loss, net of tax		(268,132	)		(312,064	)		(334,328	)
Total stockholders’ equity		2,240,322			2,186,316			2,112,427
Total liabilities and stockholders’ equity	$	15,414,130		$	15,153,655		$	16,151,495

CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEETS
(Unaudited)
(Dollars in thousands)

	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Assets
Cash and due from banks	$	154,785		$	154,328		$	162,724		$	154,557		$	162,387
Interest-earning balances due from Federal Reserve		331,956			161,432			704,023			247,165			568,722
Total cash and cash equivalents		486,741			315,760			866,747			401,722			731,109
Interest-earning balances due from depository institutions		5,973			957			12,893			3,479			11,786
Investment securities available-for-sale		2,505,601			2,539,211			2,764,096			2,522,313			2,832,097
Investment securities held-to-maturity		2,341,814			2,369,507			2,442,863			2,355,584			2,450,237
Total investment securities		4,847,415			4,908,718			5,206,959			4,877,897			5,282,334
Investment in stock of FHLB		18,012			18,012			18,012			18,012			18,012
Loans and lease finance receivables		8,354,898			8,467,465			8,731,587			8,410,871			8,778,083
Allowance for credit losses		(78,259	)		(80,113	)		(82,815	)		(79,181	)		(84,283	)
Net loans and lease finance receivables		8,276,639			8,387,352			8,648,772			8,331,690			8,693,800
Premises and equipment, net		26,982			27,408			43,624			27,194			44,002
Bank owned life insurance (BOLI)		319,582			316,643			312,645			318,121			311,127
Intangibles		8,232			9,518			13,258			8,872			13,922
Goodwill		765,822			765,822			765,822			765,822			765,822
Other assets		427,776			419,116			390,834			423,469			370,575
Total assets	$	15,183,174		$	15,169,306		$	16,279,566		$	15,176,278		$	16,242,489
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Noninterest-bearing	$	7,051,702		$	7,006,357		$	7,153,315		$	7,029,156		$	7,168,016
Interest-bearing		4,755,828			4,866,318			4,728,864			4,810,767			4,591,500
Total deposits		11,807,530			11,872,675			11,882,179			11,839,923			11,759,516
Customer repurchase agreements		376,629			317,322			287,128			347,140			298,200
Other borrowings		508,159			513,078			1,850,330			510,605			1,921,154
Other liabilities		252,908			239,283			157,463			246,132			162,953
Total liabilities		12,945,226			12,942,358			14,177,100			12,943,800			14,141,823
Stockholders’ Equity
Stockholders’ equity		2,518,282			2,523,923			2,456,945			2,521,086			2,444,510
Accumulated other comprehensive loss, net of tax		(280,334	)		(296,975	)		(354,479	)		(288,608	)		(343,844	)
Total stockholders’ equity		2,237,948			2,226,948			2,102,466			2,232,478			2,100,666
Total liabilities and stockholders’ equity	$	15,183,174		$	15,169,306		$	16,279,566		$	15,176,278		$	16,242,489

CVB FINANCIAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(Dollars in thousands, except per share amounts)

	Three Months Ended								Six Months Ended
	June 30, 2025		March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Interest income:
Loans and leases, including fees	$	108,845	$	109,071		$	114,200		$	217,916		$	230,549
Investment securities:
Investment securities available-for-sale		18,299		18,734			21,225			37,033			42,671
Investment securities held-to-maturity		12,886		13,021			13,445			25,907			26,847
Total investment income		31,185		31,755			34,670			62,940			69,518
Dividends from FHLB stock		411		379			377			790			796
Interest-earning deposits with other institutions		3,768		1,797			9,825			5,565			15,898
Total interest income		144,209		143,002			159,072			287,211			316,761
Interest expense:
Deposits		24,829		25,322			25,979			50,151			47,345
Borrowings and customer repurchase agreements		7,401		6,800			22,244			14,201			46,106
Other		371		436			–			807			–
Total interest expense		32,601		32,558			48,223			65,159			93,451
Net interest income before (recapture of) provision for credit losses		111,608		110,444			110,849			222,052			223,310
(Recapture of) provision for credit losses		–		(2,000	)		–			(2,000	)		–
Net interest income after (recapture of) provision for credit losses		111,608		112,444			110,849			224,052			223,310
Noninterest income:
Service charges on deposit accounts		4,959		4,908			5,117			9,867			10,153
Trust and investment services		3,716		3,411			3,428			7,127			6,652
Gain on OREO, net		6		2,183			–			2,189			–
Other		6,063		5,727			5,879			11,790			11,732
Total noninterest income		14,744		16,229			14,424			30,973			28,537
Noninterest expense:
Salaries and employee benefits		34,999		36,477			35,426			71,476			71,827
Occupancy and equipment		6,106		5,998			5,772			12,104			11,337
Professional services		2,191		2,081			2,726			4,272			4,981
Computer software expense		4,410		4,221			3,949			8,631			7,474
Marketing and promotion		1,817		1,988			1,956			3,805			3,586
Amortization of intangible assets		1,155		1,155			1,437			2,310			2,875
Provision for (recapture of) unfunded loan commitments		–		500			(500	)		500			(500	)
Other		6,879		6,724			5,731			13,603			14,688
Total noninterest expense		57,557		59,144			56,497			116,701			116,268
Earnings before income taxes		68,795		69,529			68,776			138,324			135,579
Income taxes		18,231		18,425			18,741			36,656			36,945
Net earnings	$	50,564	$	51,104		$	50,035		$	101,668		$	98,634

Basic earnings per common share	$	0.36	$	0.37		$	0.36		$	0.72		$	0.71
Diluted earnings per common share	$	0.36	$	0.36		$	0.36		$	0.72		$	0.71
Cash dividends declared per common share	$	0.20	$	0.20		$	0.20		$	0.20		$	0.40

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share amounts)

	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Interest income – tax equivalent (TE)	$	144,729		$	143,525		$	159,607		$	288,253		$	317,835
Interest expense		32,601			32,558			48,223			65,159			93,451
Net interest income – (TE)	$	112,128		$	110,967		$	111,384		$	223,094		$	224,384

Return on average assets, annualized		1.34	%		1.37	%		1.24	%		1.35	%		1.22	%
Return on average equity, annualized		9.06	%		9.31	%		9.57	%		9.18	%		9.44	%
Efficiency ratio [1]		45.55	%		46.69	%		45.10	%		46.12	%		46.17	%
Noninterest expense to average assets, annualized		1.52	%		1.58	%		1.40	%		1.55	%		1.44	%
Yield on average loans		5.22	%		5.22	%		5.26	%		5.22	%		5.28	%
Yield on average earning assets (TE)		4.28	%		4.28	%		4.37	%		4.28	%		4.36	%
Cost of deposits		0.84	%		0.86	%		0.88	%		0.85	%		0.81	%
Cost of deposits and customer repurchase agreements		0.87	%		0.87	%		0.87	%		0.87	%		0.80	%
Cost of funds		1.03	%		1.04	%		1.38	%		1.03	%		1.34	%
Net interest margin (TE)		3.31	%		3.31	%		3.05	%		3.31	%		3.07	%
[1] Noninterest expense divided by net interest income before provision for credit losses plus noninterest income.

Tangible Common Equity Ratio (TCE) [2]
CVB Financial Corp. Consolidated		10.02	%		10.04	%		8.68	%
Citizens Business Bank		9.86	%		9.92	%		8.57	%
[2] (Capital – [GW+Intangibles])/(Total Assets – [GW+Intangibles])

Weighted average shares outstanding
Basic		139,297,604			138,973,996			138,583,510			139,824,075			138,419,379
Diluted		139,471,147			139,294,401			138,669,058			140,098,174			138,561,481
Dividends declared	$	27,703		$	27,853		$	28,018		$	55,556		$	55,904
Dividend payout ratio [3]		54.79	%		54.50	%		56.00	%		54.64	%		56.68	%
[3] Dividends declared on common stock divided by net earnings.

Number of shares outstanding – (end of period)		137,825,465			139,089,612			139,677,162
Book value per share	$	16.25		$	16.02		$	15.12
Tangible book value per share	$	10.64		$	10.45		$	9.55

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share amounts)

	Three Months Ended
	June 30, 2025			December 31, 2024			June 30, 2024
Nonperforming assets:
Nonaccrual loans	$	25,969		$	27,795		$	24,957
Other real estate owned (OREO), net		661			19,303			647
Total nonperforming assets	$	26,630		$	47,098		$	25,604
Loan modifications to borrowers experiencing financial difficulty	$	9,529		$	6,467		$	26,363

Percentage of nonperforming assets to total loans outstanding and OREO		0.32	%		0.55	%		0.29	%
Percentage of nonperforming assets to total assets		0.17	%		0.31	%		0.16	%
Allowance for credit losses to nonperforming assets		292.91	%		170.12	%		323.33	%

	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Allowance for credit losses:
Beginning balance	$	78,252		$	80,122		$	82,817		$	80,122		$	86,842
Total charge-offs		(429	)		(40	)		(51	)		(469	)		(4,318	)
Total recoveries on loans previously charged-off		180			170			20			350			262
Net recoveries (charge-offs)		(249	)		130			(31	)		(119	)		(4,056	)
(Recapture of) provision for credit losses		–			(2,000	)		–			(2,000	)		–
Allowance for credit losses at end of period	$	78,003		$	78,252		$	82,786		$	78,003		$	82,786

Net recoveries (charge-offs) to average loans		-0.003	%		0.002	%	-0.000		%		-0.001	%		-0.046	%

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in millions)

Allowance for Credit Losses by Loan Type
	June 30, 2025				December 31, 2024				June 30, 2024
	Allowance For Credit Losses		Allowance as a % of Total Loans by Respective Loan Type		Allowance For Credit Losses		Allowance as a % of Total Loans by Respective Loan Type		Allowance For Credit Losses		Allowance as a % of Total Loans by Respective Loan Type

Commercial real estate	$	64.5		0.99%	$	66.2		1.02%	$	69.4		1.04%
Construction		0.2		1.36%		0.3		1.94%		0.8		1.51%
SBA		3.1		1.13%		2.6		0.96%		2.5		0.93%
Commercial and industrial		6.4		0.70%		6.1		0.66%		5.1		0.53%
Dairy & livestock and agribusiness		2.6		1.09%		3.6		0.86%		3.8		1.08%
Municipal lease finance receivables		0.2		0.35%		0.2		0.31%		0.2		0.26%
SFR mortgage		0.5		0.17%		0.5		0.16%		0.5		0.19%
Consumer and other loans		0.5		1.03%		0.6		1.04%		0.5		1.07%

Total	$	78.0		0.93%	$	80.1		0.94%	$	82.8		0.95%

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share amounts)

Quarterly Common Stock Price
	2025					2024						2023
Quarter End	High		Low			High			Low			High			Low
March 31,	$	21.71	$	18.22		$	20.45		$	15.95		$	25.98		$	16.34
June 30,	$	20.15	$	16.01		$	17.91		$	15.71		$	16.89		$	10.66
September 30,	$	–	$	–		$	20.29		$	16.08		$	19.66		$	12.89
December 31,	$	–	$	–		$	24.58		$	17.20		$	21.77		$	14.62

Quarterly Consolidated Statements of Earnings
			Q2			Q1			Q4			Q3			Q2
			2025			2025			2024			2024			2024
Interest income
Loans and leases, including fees			$	108,845		$	109,071		$	110,277		$	114,929		$	114,200
Investment securities and other				35,364			33,931			37,322			50,823			44,872
Total interest income				144,209			143,002			147,599			165,752			159,072
Interest expense
Deposits				24,829			25,322			28,317			29,821			25,979
Borrowings and customer repurchase agreements				7,401			6,800			8,291			22,312			22,244
Other				371			436			573			–			–
Total interest expense				32,601			32,558			37,181			52,133			48,223

Net interest income before (recapture of) provision for credit losses				111,608			110,444			110,418			113,619			110,849
(Recapture of) provision for credit losses				–			(2,000	)		(3,000	)		–			–
Net interest income after (recapture of) provision for credit losses				111,608			112,444			113,418			113,619			110,849

Noninterest income				14,744			16,229			13,103			12,834			14,424
Noninterest expense				57,557			59,144			58,480			58,835			56,497
Earnings before income taxes				68,795			69,529			68,041			67,618			68,776
Income taxes				18,231			18,425			17,183			16,394			18,741
Net earnings			$	50,564		$	51,104		$	50,858		$	51,224		$	50,035

Effective tax rate				26.50	%		26.50	%		25.25	%		24.25	%		27.25	%

Basic earnings per common share			$	0.36		$	0.37		$	0.36		$	0.37		$	0.36
Diluted earnings per common share			$	0.36		$	0.36		$	0.36		$	0.37		$	0.36

Cash dividends declared per common share			$	0.20		$	0.20		$	0.20		$	0.20		$	0.20

Cash dividends declared			$	27,703		$	27,853		$	27,978		$	27,977		$	28,018

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands)

Loan Portfolio by Type
	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024

Commercial real estate	$	6,517,415		$	6,490,604		$	6,507,452		$	6,618,637		$	6,664,925
Construction		17,658			15,706			16,082			14,755			52,227
SBA		271,735			271,844			273,013			272,001			267,938
SBA – PPP		85			179			774			1,255			1,757
Commercial and industrial		912,427			942,301			925,178			936,489			956,184
Dairy & livestock and agribusiness		233,772			252,532			419,904			342,445			350,562
Municipal lease finance receivables		63,652			65,203			66,114			67,585			70,889
SFR mortgage		288,435			269,493			269,172			267,181			267,593
Consumer and other loans		53,322			55,770			58,743			52,217			49,771
Gross loans, at amortized cost		8,358,501			8,363,632			8,536,432			8,572,565			8,681,846
Allowance for credit losses		(78,003	)		(78,252	)		(80,122	)		(82,942	)		(82,786	)
Net loans	$	8,280,498		$	8,285,380		$	8,456,310		$	8,489,623		$	8,599,060


Deposit Composition by Type and Customer Repurchase Agreements
	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024

Noninterest-bearing	$	7,247,128		$	7,184,267		$	7,037,096		$	7,136,824		$	7,090,095
Investment checking		483,793			533,220			551,305			504,028			515,930
Savings and money market		3,669,912			3,710,612			3,786,387			3,745,707			3,409,320
Time deposits		583,990			561,822			573,593			685,930			774,980
Total deposits		11,984,823			11,989,921			11,948,381			12,072,489			11,790,325

Customer repurchase agreements		404,154			276,163			261,887			394,515			268,826
Total deposits and customer repurchase agreements	$	12,388,977		$	12,266,084		$	12,210,268		$	12,467,004		$	12,059,151

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands)
Nonperforming Assets and Delinquency Trends
	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024
Nonperforming loans
Commercial real estate	$	24,379		$	24,379		$	25,866		$	18,794		$	21,908
SBA		1,265			1,024			1,529			151			337
Commercial and industrial		265			173			340			2,825			2,712
Dairy & livestock and agribusiness		60			60			60			143			–
Total	$	25,969		$	25,636		$	27,795		$	21,913		$	24,957
% of Total loans		0.31	%		0.31	%		0.33	%		0.26	%		0.29	%

Past due 30-89 days (accruing)
Commercial real estate	$	–		$	–		$	–		$	30,701		$	43
SBA		3,419			718			88			–			–
Commercial and industrial		–			–			399			64			103
Total	$	3,419		$	718		$	487		$	30,765		$	146
% of Total loans		0.04	%		0.01	%		0.01	%		0.36	%		0.00	%

OREO
Commercial real estate	$	661		$	495		$	18,656		$	–		$	–
SFR mortgage		–			–			647			647			647
Total	$	661		$	495		$	19,303		$	647		$	647
Total nonperforming, past due, and OREO	$	30,049		$	26,849		$	47,585		$	53,325		$	25,750
% of Total loans		0.36	%		0.32	%		0.56	%		0.62	%		0.30	%

CVB FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)

Regulatory Capital Ratios
	Minimum Required	CVB Financial Corp. Consolidated
Capital Ratios	Plus Capital Conservation Buffer	June 30, 2025	December 31, 2024	June 30, 2024

Tier 1 leverage capital ratio	4.0%	11.8%	11.5%	10.5%
Common equity Tier 1 capital ratio	7.0%	16.5%	16.2%	15.3%
Tier 1 risk-based capital ratio	8.5%	16.5%	16.2%	15.3%
Total risk-based capital ratio	10.5%	17.3%	17.1%	16.1%

Tangible common equity ratio		10.0%	9.8%	8.7%

Tangible Book Value Reconciliations (Non-GAAP)

The tangible book value per share is a Non-GAAP disclosure. The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. The following is a reconciliation of tangible book value to the Company stockholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share.

	June 30, 2025			December 31, 2024			June 30, 2024
	(Dollars in thousands, except per share amounts)

Stockholders’ equity	$	2,240,322		$	2,186,316		$	2,112,427
Less: Goodwill		(765,822	)		(765,822	)		(765,822	)
Less: Intangible assets		(7,657	)		(9,967	)		(12,416	)
Tangible book value	$	1,466,843		$	1,410,527		$	1,334,189
Common shares issued and outstanding		137,825,465			139,689,686			139,677,162
Tangible book value per share	$	10.64		$	10.10		$	9.55

Return on Average Tangible Common Equity Reconciliations (Non-GAAP)

The return on average tangible common equity is a non-GAAP disclosure. The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company’s performance. The following is a reconciliation of net income, adjusted for tax-effected amortization of intangibles, to net income computed in accordance with GAAP; a reconciliation of average tangible common equity to the Company’s average stockholders’ equity computed in accordance with GAAP; as well as a calculation of return on average tangible common equity.

	Three Months Ended									Six Months Ended
	June 30,			March 31,			June 30,			June 30,			June 30,
	2025			2025			2024			2025			2024
	(Dollars in thousands)

Net Income	$	50,564		$	51,104		$	50,035		$	101,668		$	98,634
Add: Amortization of intangible assets		1,155			1,155			1,437			2,310			2,875
Less: Tax effect of amortization of intangible assets (1)		(341	)		(341	)		(425	)		(683	)		(850	)
Tangible net income	$	51,378		$	51,918		$	51,047		$	103,295		$	100,659

Average stockholders’ equity	$	2,237,948		$	2,226,948		$	2,102,466		$	2,232,478		$	2,100,666
Less: Average goodwill		(765,822	)		(765,822	)		(765,822	)		(765,822	)		(765,822	)
Less: Average intangible assets		(8,232	)		(9,518	)		(13,258	)		(8,872	)		(13,922	)
Average tangible common equity	$	1,463,894		$	1,451,608		$	1,323,386		$	1,457,784		$	1,320,922

Return on average equity, annualized (2)		9.06	%		9.31	%		9.57	%		9.18	%		9.44	%
Return on average tangible common equity, annualized (2)		14.08	%		14.51	%		15.51	%		14.29	%		15.32	%

(1) Tax effected at respective statutory rates.
(2) Annualized where applicable.

The MIL Network –

July 24, 2025

MIL-OSI USA: Warren Secures Key Commitments from Social Security Chief to Protect Americans’ Benefits

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren

July 23, 2025

Bisignano agrees to independent investigation into data and metrics, no Schedule F, and more

Bisignano admits responsibility for inaccurate email about Big Beautiful Bill, says doesn’t know whether White House Office of General Counsel (OGC) reviewed before SSA sent to all beneficiaries

Washington, D.C. – Today, U.S. Senator Elizabeth Warren (D-Mass.), a leader of the Senate Democrats’ Social Security War Room, secured key commitments and admissions from Social Security Administration (SSA) Commissioner Frank Bisignano during a private meeting. The commitments relate to data and metrics, staffing, paper checks, and more. She also pressed Bisignano for information on his politicization of the SSA.

“It’s my job as a United States Senator to conduct oversight, ask tough questions, and get real answers for the American people. The commitments I secured in today’s meeting with Commissioner Bisignano will make it easier for people to get their checks and get help with their benefits,” said Senator Warren. “I’ll keep pressing on these issues and fighting to protect Americans’ Social Security.”

Senator Warren secured the following commitments and admissions from Commissioner Bisignano:

Commissioner Bisignano agreed to an independent IG investigation of Social Security service data and metrics. Recent reporting highlighted that under Bisignano’s watch, SSA has removed key service metrics, such as call wait times, from its website. An investigation from Senator Warren’s office revealed that the remaining metrics appear to be inaccurate and misleading. In the meeting with Senator Warren, Commissioner Bisignano agreed to an independent audit of both the collecting and reporting of data. He also committed that specific data will be publicly reported, such as the number of dropped calls, how often calls are transferred to incorrect departments, and what percentage of callers actually resolve their issue over the phone.

Commissioner Bisignano committed that SSA will not shift workers to Schedule F. Previous Acting SSA Commissioner Leland Dudek publicly called for entire SSA offices to be converted to Schedule F, which would, in effect, make it easier for leadership to fire workers with little cause. In today’s meeting, Senator Warren secured a commitment from Commissioner Bisignano to change course and not shift SSA workers to Schedule F. However, Senator Warren was concerned that Bisignano confirmed SSA has no plans to hire back workers who have been gutted from the agency — even amid reported capacity issues.

Commissioner Bisignano admitted he was responsible for the inaccurate SSA email about Donald Trump’s Big Beautiful Bill that went out to all beneficiaries, that his team had discussed the email with the White House, and that he was not sure whether the SSA’s Office of General Counsel (OGC) had reviewed it. Immediately following Congressional Republicans passing Donald Trump’s “Big Beautiful Bill,” SSA sent an inaccurate email to all beneficiaries with inaccurate information about benefits they could expect as a result of the bill. After receiving backlash, SSA quietly added a few lines at the bottom of the online version of their press release and sent out no correction email to beneficiaries.In the meeting with Senator Warren, Commissioner Bisignano revealed that his team at SSA was responsible for the initial email. He confirmed that it was discussed with the White House, but admitted that he didn’t know whether it had been run by SSA’s Office of General Counsel (OGC) before it was sent out to all beneficiaries. When Senator Warren asked whether he planned to send out a correction to all beneficiaries given the inaccurate and misleading information provided to them about their benefits, Bisignano said he did not know why they had not initially sent out a correction but believed the email had “aged” and did not require a follow-up.

Commissioner Bisignano committed not to entirely remove the option for beneficiaries to receive paper checks, backtracking on the agency’s own recent announcement to “stop issuing” them. SSA recently announced that it would stop issuing paper checks, which would significantly disrupt services for some of the most vulnerable Americans. In the meeting with Senator Warren, Commissioner Bisignano backtracked, confirming that paper checks will remain an option for beneficiaries who need them.

Senate Dems’ Social Security War Room is a coordinated effort to fight back against the Trump administration’s attack on Americans’ Social Security. The War Room coordinates messaging across the Senate Democratic Caucus and external stakeholders; encourages grassroots engagement by providing opportunities for Americans to share what Social Security means to them; and educates Senate staff, the American public, and stakeholders about Republicans’ agenda and their continued cuts to Americans’ Social Security services and benefits.

MIL OSI USA News –

July 24, 2025

MIL-OSI USA: Smoke and Wildfires Impacting Road Safety Across Oregon

Source: US State of Oregon

strong>SALEM, Ore. – As wildfires continue to impact parts of Oregon, Governor Tina Kotek has declared a State of Emergency, effective July 16, 2025, through December 31, 2025. Travelers are urged to use extra caution on the roads and know the conditions in the areas they are traveling to. Smoke can severely reduce visibility and create dangerous driving conditions. In some areas, wildfire activity has led to road closures or detours. The Oregon Department of Transportation (ODOT), Oregon Department of Emergency Management (OEM), and Oregon Department of Environmental Quality (DEQ) are working together to keep Oregonians safe—and they’re asking the public to do their part before hitting the road.

“If you’re planning a road trip this summer, make sure your car is ready,” OEM spokesperson, Erin Zysett said. “Start your trip with a full tank of gas or electric charge, check your tires and air conditioner, and know your route. Conditions can change quickly during wildfire season.”

OEM urges travelers to carry a well-stocked emergency car kit in case they become stranded or delayed. Your kit should include:

Jumper cables
Flares or a reflective triangle
Flashlight and extra batteries
First aid kit
Blanket
Map or printed directions
Cell phone and car charger
Backup power supply
Hand-crank Weather Radio
N95 mask (to help filter smoky air)
Plastic sheeting and duct tape (to shelter in place if needed)
Wet wipes, garbage bags, and toilet paper for sanitation
Whistle to signal for help
Water and non-perishable snacks
Cash or traveler’s checks
Portable shovel

“Smoke affects visibility as well as air quality and can lead to sudden changes in driving conditions,” said Chris Varley, DEQ Spokesperson. “If visibility is poor or the air is hazardous, consider delaying your trip. Your safety comes first. If you must drive in smokey conditions, close all the windows and direct the car’s air system to recirculate to help reduce the amount of smoke entering the car.”

Before You Go:

MIL OSI USA News –

July 24, 2025

MIL-Evening Report: As seas rise and fish decline, this Fijian village is finding new ways to adapt

Source: The Conversation (Au and NZ) – By Celia McMichael, Professor in Geography, The University of Melbourne

Celia McMichael, CC BY-NC-ND

In the village of Nagigi, Fiji, the ocean isn’t just a resource – it’s part of the community’s identity. But in recent years, villagers have seen the sea behave differently. Tides are pushing inland. Once abundant, fish are now harder to find. Sandy beaches and coconut trees have been washed away.

Like many coastal communities, including those across the Pacific Islands region, this village is now under real pressure from climate change and declining fish stocks. Methods of fishing are no longer guaranteed, while extreme weather and coastal erosion threaten homes and land. As one villager told us:

we can’t find fish easily, not compared to previous times […] some fish species we used to see before are no longer around.

When stories like this get publicity, they’re often framed as a story of loss. Pacific Islanders can be portrayed as passive victims of climate change.

But Nagigi’s experience isn’t just about vulnerability. As our new research shows, it’s about the actions people are taking to cope with the changes already here. In response to falling fish numbers and to diversify livelihoods, women leaders launched a new aquaculture project, and they have replanted mangroves to slow the advance of the sea.

Adaptation is uneven. Many people don’t want to or can’t leave their homes. But as climate change intensifies, change will be unavoidable. Nagigi’s experience points to the importance of communities working collectively to respond to threats.

Unwelcome change is here

The communities we focus on, Nagigi village (population 630) and Bia-I-Cake settlement (population 60), are located on Savusavu Bay in Vanua Levu, Fiji’s second largest island. Fishing and marine resources are central to their livelihoods and food security.

In 2021 and 2023, we ran group discussions (known as talanoa) and interviews to find out about changes seen and adaptations made.

Nagigi residents have noticed unwelcome changes in recent years. As one woman told us:

sometimes the sea is coming further onto the land, so there’s a lot of sea intrusion into the plantations, flooding even on land where it never used to be

Tides are pushing ashore in Nagigi, threatening infrastructure.
Celia McMichael, CC BY-NC-ND

In 2016, the devastating Tropical Cyclone Winston destroyed homes and forced some Nagigi residents to move inland to customary mataqali land owned by their clan.

As one resident said:

our relocation was smooth because […] we just moved to our own land, our mataqali land.

But some residents didn’t have access to this land, while others weren’t willing to move away from the coast. One man told us:

leave us here. I think if I don’t smell or hear the ocean for one day I would be devastated.

Adaptation is happening

One striking aspect of adaptation in Nagigi has been the leadership of women, particularly in the small Bia-I-Cake settlement.

In recent years, the Bia-I-Cake Women’s Cooperative has launched a small-scale aquaculture project to farm tilapia and carp to tackle falling fish stocks in the ocean, tackle rising food insecurity and create new livelihoods.

Women in the cooperative have built fish ponds, learned how to rear fish to a good size and began selling the fish, including by live streaming the sale. The project was supported by a small grant from the United Nations Development Programme and the Women’s Fund Fiji.

Recently, the cooperative’s women have moved into mangrove replanting to slow coastal erosion and built a greenhouse to farm new crops.

As one woman told us, these efforts show women “have the capacity to build a sustainable, secure and thriving community”.

The community’s responses draw on traditional social structures and values, such as respect for Vanua – the Fijian and Pacific concept of how land, sea, people, customs and spiritual beliefs are interconnected – as well as stewardship of natural resources and collective decision-making through clans and elders, both women and men.

Nagigi residents have moved to temporarily close some customary fishing grounds to give fish populations a chance to recover. The village is also considering declaring a locally-managed marine area (known as a tabu). This is a response to climate impacts as well as damage to reefs, pollution and overfishing.

For generations, village residents have protected local ecosystems which in turn support the village. But what is new is how these practices are being strengthened and formalised to respond to new challenges.

A women’s cooperative have built aquaculture ponds to raise and sell fish.
Celia McMichael, CC BY-NC-ND

Adaptation is uneven

While adaptation is producing some successes, it is unevenly spread. Not everyone has access to customary land for relocation and not every household can afford to rebuild damaged homes.

What Nagigi teaches us, though, is the importance of local adaptation. Villagers have demonstrated how a community can anticipate risks, respond to change and threats, recover from damage and take advantage of new opportunities.

Small communities are not just passive sites of loss. They are collectives of strength, agency and ingenuity. As adaptation efforts scale up across the Pacific, it is important to recognise and support local initiatives such as those in Nagigi.

Sharing effective adaptation methods can give ideas and hope to other communities under real pressure from climate change and other threats.

Many communities are doing their best to adapt often undertaking community-led adaptation, even despite the limited access Pacific nations have to global climate finance.

Nagigi’s example shows unwelcome climatic and environmental changes are already arriving. But it’s also about finding ways to live well amid uncertainty and escalating risk by using place, tradition and community.

The authors acknowledge the support of the people of Nagigi and Bia-I-Cake, and especially the Bia-I-Cake Women’s Cooperative, for sharing their time and insights.

Celia McMichael receives funding from the Australian Research Council (ARC).

Merewalesi Yee does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. As seas rise and fish decline, this Fijian village is finding new ways to adapt – https://theconversation.com/as-seas-rise-and-fish-decline-this-fijian-village-is-finding-new-ways-to-adapt-261573

MIL OSI Analysis – EveningReport.nz –

July 24, 2025

MIL-Evening Report: From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds

Source: The Conversation (Au and NZ) – By Gabriel Crowley, Adjunct Associate Professor in Geography, University of Adelaide

JJ Harrison/Wikimedia, CC BY

Picture this. A small, rainbow-coloured chick emerges from its nest for the first time. It stretches its wings and prepares to take flight. But before the fledgling’s life in the wild has begun, a sharp-beaked predator swoops in, leaving nothing but a tiny skeleton.

This is the sad scenario playing out on Cape York Peninsula, new analysis shows. There, trees are invading the open, grassy habitat of the endangered golden-shouldered parrot (Psephotellus chrysopterygius). The trees give cover to predators – meaning they can lie in wait, before striking the adult birds and their young.

The golden-shouldered parrot is endangered, now found in just 5% of its original range. The new findings suggest more work is needed to restore grassland habitat to its former open state, to ensure the parrots’ survival.

A vanishing species

The initial decline of the golden-shouldered parrot was likely caused by a loss of food plants and degradation of the termite mounds in which it nests. Birds that remained in two small areas in central Cape York Peninsula faced other issues.

In the 1990s, researchers began studying the parrot on Artemis Station, to better understand why numbers were declining. A new suspect was identified: native woody plants, such as the broad-leaved tea-tree (Melaleuca viridiflora), which had crept into the birds’ grassy habitat.

The change was largely due to overgrazing, which reduced fuel loads and led to fewer fires. This allowed the woodland trees to overtake the grasslands. But exactly how were these trees affecting the survival of the golden-shouldered parrot? New research by my colleagues and I set out to answer this question.

The above image shows the three phases of woodland invading the parrots’ habitat. Left, a few scattered trees establish around the nesting mound. Centre, tea trees emerge from the grass layer. Right, dense thickets of tea trees shade out the termite mounds.
Gabriel Crowley

Counting eggs, nest by nest

We monitored 108 termite-mound nests over three years, tracking the success of 555 eggs. We visited each nest every few days to record whether chicks successfully fledged (grew strong enough to leave the nest) or died.

We also counted the number of trees around the nests, and recorded signs of interference from predators.

So what did we find? The proportion of nests that produced a fledgling from every egg decreased in proportion to the number of trees around the nest. The percentage of eggs, chicks and adults that were killed or disappeared from a nest also increased in line with tree numbers.

That’s because the trees bring different predators – and places for them to hide.

We suspected reptiles were the main predators. This was due to scratches on the nests and disappearance of eggs without any other signs of damage. While the exact species of reptile predator was hard to pinpoint, we know tree snake numbers increase as woodlands encroach.

However, of all predators, we found butcherbird numbers increased most strongly as trees crept in. Butcherbirds tear prey apart with their strong, hooked beaks. Trees close to the nests give butcherbirds cover, enabling them to wait for adults or their young to emerge.

Tragically, we found skulls of chicks pierced by the butcherbirds’ sharp bills. In one case, the shredded flesh of a bird was wedged atop a termite mound.

Butcherbirds have strong, hooked beaks, which they use to tear apart prey.
Conservation Partners

Parrots successfully fledged from just over half of the 555 eggs we monitored.

In the most dense woodlands, the number of birds that successfully fledged was just one-third of the rate needed to maintain the golden-shouldered parrot’s population.

Adult birds were lost from one-third of the nests we studied. This is especially troubling. Modelling from similar tropical birds shows this rate of adult deaths can push a species towards extinction.

Unusually, golden-shouldered parrots nest in termite mounds.
Peter Valentine

Restoring the parrots’ grassland home

The world’s grassland habitats are under threat. This has devastating consequences for species that depend on them – including the golden-shouldered parrot.

Our findings show Cape York’s grasslands should be maintained and restored to ensure the survival of the golden-shouldered parrot. Much work is needed to ensure the species avoids the fate of its closest relative, the paradise parrot, which is presumed extinct.

Work is already underway. Golden-shouldered parrot habitat in national parks and on Indigenous-owned land has been destocked, and more traditional Indigenous fire regimes reinstated. This will help maintain open grasslands and reverse early woodland encroachment. Such work is also being undertaken at the study site on Artemis Station.

Where woody plant invasion is more advanced, more intensive methods have been deployed. At the study site, this includes using chainsaws and brush-cutters to clear trees, before the stump is poisoned.

Where woody vegetation is well established, trees must be felled to help restore grassland habitat.
Conservation Partners

Other measures include installing electric fences to keep out reptiles, reseeding grasslands with food plants and providing feeding stations in seasons when food is scarce.

Land managers across Cape York have also been provided guidelines for managing woodland encroachment.

These efforts must be sustained in the long-term, to ensure the golden-shouldered parrot can return to its former range.

Gabriel Crowley undertook the work cited in this article with Susan Shephard (Artemis Station), Stephen Garnett (Charles Darwin University and Conservation Partners) and Stephen Murphy (Conservation Partners). Funding was provided by the Queensland and federal governments, Gulf Savannah NRM and WWF Australia. Gabriel has provided advice on golden-shouldered parrots and their habitat to the Olkola Aboriginal Corporation, Conservation Partners and Bush Heritage Australia as a volunteer and/or consultant. She is a volunteer for Helen Haines MP (Member for Indi).

– ref. From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds – https://theconversation.com/from-grasslands-to-killing-fields-why-trees-are-bad-news-for-one-of-australias-most-stunning-birds-259898

MIL OSI Analysis – EveningReport.nz –

July 24, 2025

MIL-OSI USA: Congressman Valadao Urges DOT to Reinvest $4 Billion from High-Speed Rail to Infrastructure Improvements

Source: United States House of Representatives – Congressman David G. Valadao (California)

It’s been over 10 years since the California High-Speed Rail Authority began construction, and after wasting billions of taxpayer dollars, missing numerous deadlines, and forcing the Central Valley to suffer due to neglect, they have zero miles of operational track to show for it.

WASHINGTON – Congressman David Valadao (CA-22) joined Reps. Vince Fong (CA-20), Ken Calvert (CA-41), Darrell Issa (CA-48), Tom McClintock (CA-05), Doug LaMalfa (CA-01), Young Kim (CA-40), Jay Obernolte (CA-23), and Kevin Kiley (CA-03) to send Department of Transportation (DOT) Secretary Sean Duffy a letter applauding the Federal Railroad Administration’s decision to terminate funding for California’s High-Speed Rail project. The letter urges DOT to redirect the $4 billion in recovered federal funds to critical infrastructure priorities across California.

“It’s been over 10 years since the California High-Speed Rail Authority began construction, and after wasting billions of taxpayer dollars, missing numerous deadlines, and forcing the Central Valley to suffer due to neglect, they have zero miles of operational track to show for it,” said Congressman Valadao. “This project has been overfunded and grossly mismanaged from the start, and it’s past time we refocus our efforts and resources on infrastructure projects our region needs.”

The letter recommends funds be redirected to:

Expanding State Route 99, Interstate 15, Interstate 5, Interstate 395, Interstate 80, and State Route 65.
Supporting repairs on roadways designated as farm-to-market roads.
Shifting State Route 152 and modify a bridge on Interstate 5 to accommodate for needed reservoir capacity improvements.
Improving a bypass on State Route 70.
Repairing roads damaged by the Los Angeles wildfires.
Supporting infrastructure improvements needed for the 2028 Olympics.

Read the full letter here.

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MIL OSI USA News –

July 24, 2025

MIL-OSI Russia: Thailand downgrades diplomatic ties with Cambodia after border mine incident, Phnom Penh denies allegations

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

BANGKOK/PHNOM PENH, July 23 (Xinhua) — Thailand downgraded its diplomatic ties with Cambodia on Wednesday after a landmine incident in a border area injured Thai soldiers, with the Cambodian side rejecting Thailand’s accusations.

Acting Thai Prime Minister Phumtham Vechayachai ordered the downgrading of diplomatic relations, the recall of the Thai ambassador to Cambodia and the expulsion of the Cambodian ambassador, according to a statement released by the Prime Minister’s Office.

“Thailand will continue to consider the level of bilateral relations with Cambodia,” the document says.

In addition, Phumtham Vechayachai instructed the country’s Ministry of Foreign Affairs to send a note of protest to Cambodia in connection with the incident.

Five soldiers were injured in a mine explosion while patrolling the border area, including one with serious leg injuries, the Thai army said. Three Thai soldiers were also injured in a similar mine explosion near the disputed area last week.

Thai officials said the mines had been planted only recently and accused Cambodia of violating the Anti-Personnel Mine Ban Convention (Ottawa Convention).

The situation on the Thai-Cambodian border remains tense since a brief exchange of fire between the two sides in the disputed border area in late May left a Cambodian soldier dead.

Cambodia on Wednesday rejected Thai allegations that Thai troops were injured in a landmine explosion, saying the incident occurred because the Thai side deviated from mutually agreed patrol routes.

As Deputy Secretary of State and spokesperson for the Cambodian Ministry of Defense Lieutenant General Mali Socheata indicated, the defense ministry completely rejects the baseless accusations made by the Thai side in connection with the injury of five Thai soldiers due to a mine explosion on July 23.

“Cambodia has repeatedly reminded the Thai side of the presence of large numbers of uncleared mines and explosive remnants of war in these areas and called on the Thai side to avoid violating mutually agreed patrol routes as stipulated in the 2000 memorandum of understanding,” the spokesperson said in a statement.

Mali Socheata added that the Ministry of Defence and the Royal Cambodian Armed Forces reaffirm their full support for the Cambodian government’s position on resolving the border issue with Thailand through peaceful means and based on international law. –0–

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

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MIL OSI Russia News –

July 24, 2025

MIL-OSI Security: Lake County Convicted Felon Pleads Guilty To Illegally Possessing A Firearm

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Ocala, Florida – United States Attorney Gregory W. Kehoe announces that Gregory Coleman III (28, Leesburg) has entered a guilty plea to an indictment charging him with one count of possession of a firearm affecting commerce by a convicted felon. Coleman faces a maximum penalty of 15 years in federal prison. A sentencing date has not yet been set. A federal grand jury indicted Coleman on December 12, 2023.

According to the court records, Coleman has been convicted of four state felonies, including aggravated assault on a law enforcement officer, resisting law enforcement with violence, fleeing or attempting to elude law enforcement, and possession of cocaine. Following these convictions, on November 4, 2023, Coleman sold a firearm to a confidential source who was working in cooperation with federal agents. Coleman told the source he had more firearms but wanted to keep them for himself. As a convicted felon, Coleman is prohibited from possessing firearms or ammunition under federal law.

This case is being investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Eustis Police Department. It is being prosecuted by Assistant United States Attorney Hannah Nowalk Watson.

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

MIL Security OSI –

July 24, 2025

MIL-OSI Security: Birmingham Man Sentenced to 36 Years in Prison on Gun and Drug Charges

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

BIRMINGHAM, Ala. – A federal judge has sentenced a Birmingham man for possessing a machine gun in furtherance of a drug trafficking crime and drug trafficking, announced U.S. Attorney Prim F. Escalona.

U.S. District Court Judge Madeline H. Haikala sentenced Frederick Leonard Temple, Jr., also known as “Cutt” and “Cutthroat,” 35, to 432 months in prison. In February, Temple was convicted by a jury of possession of a machine gun, two counts of distribution of fentanyl, possession with intent to distribute methamphetamine and fentanyl, and possession of a machine gun in furtherance of a drug-trafficking crime.

“This sentence sends a clear message that violent, criminal conduct like Defendant Temple’s will not be tolerated,” said U.S. Attorney Escalona. “I commend our law enforcement partners and prosecutors for their unwavering commitment to ensuring Temple was brought to justice.”

“Today’s sentencing illustrates the continuous commitment that the ATF shares with our state, local, and federal law-enforcement partners to combat the illegal possession of firearms, fight violent crime, and remove narcotics from the streets,” said ATF Special Acting Agent in Charge Jason Stankiewicz. “We will continue to utilize all of our resources in an effort to maintain public safety in the communities that we serve.”

According to evidence presented at trial, Temple distributed fentanyl on two separate occasions. On January 26, 2022, members of the Shelby County Drug Enforcement Task Force and officers from the Birmingham Police Department executed a search warrant at Temple’s residence. During the search, officers found drugs and firearms in a rear bedroom where an infant was located. The search of the residence resulted in the seizure of 14 firearms, including a Glock 9 mm pistol equipped with a machine gun-conversion device commonly referred to as a “Glock switch,” several high-capacity firearm magazines, including 100- and 50-round drum magazines, and a large amount of various ammunition, as well as fentanyl, methamphetamine, six digital scales of various sizes, and other drug paraphernalia.

The Bureau of Alcohol, Tobacco, Firearms, and Explosives investigated the case along with the Shelby County Sheriff’s Office and Birmingham Police Department. Assistant U.S. Attorneys Kristy M. Peoples and Alan Kirk prosecuted the case.

MIL Security OSI –

July 24, 2025

MIL-OSI Security: Rapid City Man Sentenced to 2½ Years in Federal Prison for Illegally Possessing a Firearm as a Felon

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

RAPID CITY – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Camela C. Theeler has sentenced a Rapid City man convicted of Possession of a Firearm by a Prohibited Person. The sentencing took place on July 21, 2025.

William Janis, 25, was sentenced to two years and six months in federal prison, followed by three years of supervised release, and ordered to pay a $100 special assessment to the Federal Crime Victims Fund. This sentence was ordered to run consecutively to a state custody sentence Janis is serving for a prior drug conviction.

Janis was indicted for Possession of a Firearm by a Prohibited Person by a federal grand jury in February 2025. He pleaded guilty on April 28, 2025.

In December 2024, Janis was contacted by law enforcement officers after he was seen yelling outside an apartment complex in Rapid City and trying to gain access inside. Officers learned Janis had an active warrant, and he was subsequently arrested. After being arrested, Janis informed officers he had a firearm in his waistband. Officers located and seized a 9mm pistol. Janis had previously been convicted of a felony, was on parole for a felony drug conviction, and knew he was also prohibited from possessing firearms pursuant to his parole agreement.

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). Through PSN, the District of South Dakota seeks to bring together all levels of law enforcement and the communities they serve to reduce gun violence and make our neighborhoods safer for everyone.

This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Rapid City Police Department. Supervisory Assistant U.S. Attorney Benjamin Patterson prosecuted the case.

Janis was immediately remanded to the custody of the U.S. Marshals Service.

MIL Security OSI –

July 24, 2025

MIL-OSI Security: FEDERAL JURY CONVICTS PANAMA CITY FELON OF DRUG TRAFFICKING AND ILLEGAL FIREARMS CHARGES

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

PENSACOLA, FLORIDA – Jarrel Daniel Rivaz, 35, of Panama City, was found guilty by a federal jury of possession with intent to distribute 500 grams or more of cocaine and marijuana, possession of a firearm in furtherance of drug trafficking, and possession of a firearm and ammunition by a convicted felon on Tuesday morning, July 22, 2025. The verdict was announced by John P. Heekin, United States Attorney for the Northern District of Florida.

U.S. Attorney Heekin said: “Fulfilling the promise of President Donald J. Trump and Attorney General Pam Bondi to Take Back America from violent criminals and drug traffickers requires close collaboration between our federal, state, and local law enforcement partners like we saw in this case. I am deeply appreciative of the outstanding work of the Bay County Sheriff’s Office and the ATF to get this criminal off our streets, and my office will continue to aggressively prosecute these cases to keep our communities safe from the predations of drug traffickers like this defendant.”

Evidence admitted at trial established that on December 21, 2023, during a search warrant executed at the defendant’s house in Panama City, law enforcement found and seized over 900 grams of cocaine, a large quantity of marijuana, two firearms, and ammunition. One of the firearms was found loaded in a locked shed in the same bag as some of the marijuana. Rivaz had previously been convicted of a felony drug trafficking offense in New York under the name “Gerald Walker.”

Sentencing is scheduled for October 16, 2025, at 10 a.m. in Pensacola before United States District Judge T. Kent Wetherell II. Rivaz faces a minimum mandatory term of 10 years’ imprisonment and a maximum possible sentence of life.

The verdict was the result of a joint investigation by the Bay County Sheriff’s Office and the Bureau of Alcohol, Tobacco, Firearms and Explosives. The case is being prosecuted by Assistant United States Attorneys Ward Narramore and Alicia Forbes.

This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) 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 United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

MIL Security OSI –

July 24, 2025

MIL-OSI: American Coastal Insurance Corporation Schedules Second Quarter Financial Results and Conference Call

Source: GlobeNewswire (MIL-OSI)

ST. PETERSBURG, Fla., July 23, 2025 (GLOBE NEWSWIRE) — American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that it expects to release its financial results for the second quarter ended June 30, 2025, on Wednesday, August 6, 2025, after the close of the market, and will conduct its quarterly conference call at 5:00 p.m. ET.

The conference call will include live remarks followed by a question and answer (Q&A) session. Interested parties are invited to participate in the conference call and should dial-in 10 minutes before the conference call is scheduled to begin.

Second Quarter 2025 Conference Call Details:
Wednesday, August 6, 2025 – 5:00 p.m. ET

Participant Dial-In Numbers:

United States:	877-445-9755
International:	201-493-6744

To listen to the conference call via webcast, please visit the Company website and click on the webcast link at the top of the page or click here. The webcast will be archived and accessible for approximately 30 days following the call.

About American Coastal Insurance Corporation:
American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, and apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating of “A”, Exceptional’ from Demotech, and maintains an “A-” insurance financial strength rating with a Positive outlook by Kroll. ACIC maintains a ‘BBB-’ issuer rating with a Positive outlook by Kroll.

Contact Information:
Alexander Baty
Vice President, Finance & Investor Relations, American Coastal Insurance Corporation
investorrelations@amcoastal.com
(727) 425-8076

Karin Daly
Investor Relations, Vice President, The Equity Group
kdaly@theequitygroup.com
(212) 836-9623

The MIL Network –

July 24, 2025

MIL-OSI USA: Rep. Andrea Salinas Leads Colleagues in Letter Opposing Trump Administration’s Attacks on the Forest Service

Source: US Representative Andrea Salinas (OR-06)

Washington, D.C. – Today, U.S. Representative Andrea Salinas (OR-06), joined by ten of her colleagues on the House Agriculture Committee, sent a letter to President Trump highlighting the harm his administration has done to the U.S. Forest Service.

The letter demonstrates that the Trump administration’s actions – which include firing thousands of fire-qualified personnel, slashing funding, and moving forward an ill-conceived reorganization plan – will undermine wildfire preparedness and response across the country. The letter calls on President Trump to reverse course to undo the damage his administration has already caused.

Click here or see below for the full letter:

Dear President Trump,

As we move deeper into wildfire season, we write to express our grave concern regarding your administration’s sustained attacks on the U.S. Forest Service (USFS). Widespread staff reductions, irresponsible budget proposals, and harmful organizational changes undermine the agency’s ability to effectively manage public lands, mitigate the risk of extreme wildfire, and protect the safety of communities across the country.

In early 2025, USFS undertook large-scale staffing reductions. More than 3,400 probationary employees were terminated, and thousands more departed under early retirement and separation incentives. The agency lost qualified wildfire response staff, as well as personnel specializing in fuels and forest management. These staff also conducted essential forest restoration work in the wake of wildfires to help critical ecosystems recover quickly and effectively. The loss of this expertise directly impairs the agency’s ability to reduce wildfire risk and respond effectively when fires occur moving forward. Despite what DOGE may claim, these employees were not part of some imagined bureaucratic fraud, they were dedicated public servants working to protect our public lands and our communities.

In recent months your administration has advanced plans to shift many wildland fire responsibilities away from USFS and into a new entity housed within the Department of the Interior. This proposal has raised serious concerns among experts in fire response and forest management who warn it would create unnecessary disruption, fragment coordination, and delay urgently needed fuels reduction treatments during a time of escalating wildfire threats. For instance, the National Association of Forest Service Retirees has raised concerns that such an entity would take billions of dollars and many years to establish, even if done in an effective manner that preserves federal firefighting capabilities and minimizes chaos. There is also concern that such a new entity would ignore the critical role rank-and-file USFS workers play in fire preparedness and response and the inherent connection between wildfire and ongoing forest health and management. Moreover, as we move away from having a definable fire season and towards year-round risk of severe fire behavior, it is hard to imagine reorganizing our nation’s federal wildland firefighting responsibilities without creating unnecessary confusion and stress while attempting to protect vulnerable communities.

Unfortunately, based on your administration’s track record, these concerns are well founded. From the chaotic mass firings of USFS personnel and the disruption caused by DOGE’s unfounded allegations of “waste, fraud, and abuse,” to the implementation of ill-conceived funding freezes and issuance of repetitive and vague Executive Orders, your Administration has repeatedly demonstrated an inability to execute complex plans efficiently or in good faith. It should come as no surprise, then, that your budget request included no funding to assist with any reorganization effort – nor did it request funds to replace the loss of personnel critical to the USFS’s wildfire preparedness and response capabilities.

We would be remiss not to also mention our concern with the USFS budget proposal for Fiscal Year 2026. Slashing support for state, tribal, and private forestry programs that provide technical and financial assistance to landowners and resource managers to help sustain the nation’s forests and grasslands, protect communities from wildland fire, and restore forest ecosystems is downright dangerous. For example, eliminating funding for the Forest Service’s Collaborative Forest Landscape Restoration program, one of the agency’s most popular and effective programs, will actively hinder our ability to reduce the risk of catastrophic wildfire and support economic revitalization in rural communities.

The USFS is also currently withholding funding from critical state, tribal, and private forestry programs, which are essential to preparing for and responding to wildfire on non-federal lands. We are deeply concerned by reports that program funding is being redirected to pay for the unauthorized and ill-conceived Deferred Resignation Program (DRP). Reallocating funding from its congressionally authorized purpose in order to pay employees to not work is an absurd, illegal, and irresponsible use of taxpayer dollars. If additional resources are desired to pursue DRP or other reorganization efforts, USFS should formally request and justify the need for these resources.

Moving forward, we urge you to direct USFS to rectify the harm it has already done to wildfire preparedness and response. That means re-hiring or replacing terminated employees and resuming the distribution of state, tribal, and private forestry grants. It also means dropping ill-conceived reorganization plans until meaningful planning has occurred and required funds have been secured.

The wildfire crisis is not going away. We should work together to reverse the dangerous course USFS is on, and bolster our wildfire preparedness and response capacity through collaborative, interagency efforts with a proven track record of success. Failure to do so will have catastrophic consequences.

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MIL OSI USA News –

July 24, 2025

MIL-OSI Security: Defense News in Brief: U.S.-Philippine Airmen strengthen ties during Cope Thunder 25-2

Source: United States Airforce

PACAF participated in Cope Thunder 25-2, a unique platform that integrates U.S. and Philippine Air Forces and enhances interoperability through bilateral fighter training, subject matter expert exchanges and key leadership engagements.

CLARK AIR BASE, Philippines (AFNS) —

U.S. Pacific Air Forces and Philippine Air Force members participated in Cope Thunder 25-2, a bilateral training conducted across multiple locations in the Philippines. The exercise aimed to strengthen partnerships and support the Philippine Air Force’s modernization efforts, promoting regional and global stability.

Established in the Philippines in 1976, Cope Thunder provides a unique platform to integrate U.S. and Philippine Air Forces and enhance interoperability through bilateral fighter training, subject matter expert exchanges and key leadership engagements. Cope Thunder 25-2 also marked the first time a U.S. Air Force F-35A Lightning II squadron has deployed to the Philippines.

“It’s obvious that this isn’t a relationship that’s simply on paper,” said Lt. Col. Bryan Mussler, 421st Mission Generation Force Element commander. “We’ve been integrating with them for a long time, and their mentality and approach to operations is very similar to ours.”

Subject matter expert exchanges during the exercise enabled U.S. and Philippine Airmen in similar career fields to share best practices and effective techniques aimed at improving day-to-day operations for both forces. These exchanges included maintenance, firefighting, airfield operations, electromagnetic warfare and basic fighter manoeuvres with U.S. and Philippine pilots flying side by side.

U.S. Air Force maintainers, assigned to the 421st Mission Generation Force Element, depart the flightline after conducting preflight operations on an F-35A Lightning II during Cope Thunder 25-2 at Clark Air Base, Philippines, July 7, 2025. The exercise enhances interoperability between the U.S. Air Force and the Philippine Air Force and supported the Armed Forces of the Philippines’ modernization efforts. (U.S. Air Force photo by Airman 1st Class Aden Brown)

U.S. Air Force Staff Sgt. Arnaldo Puente Mendez, 421st Mission Generation Force Element aerospace ground equipment maintainer, briefs Philippine Air Force airmen on a self-generating nitrogen servicing cart during Cope Thunder 25-2 at Clark Air Base, Philippines, July 9, 2025. During the subject matter expert exchange, U.S. Airmen provided valuable insight into equipment used for aircraft maintenance, supporting Armed Forces of the Philippines’ modernization efforts. (U.S. Air Force photo by Airman 1st Class Aden Brown)

U.S. Air Force Capt. Tyler Rico, second to the left, and Capt. Toney Fisher, right, 421st Mission Generation Force Element F-35A pilots, coordinate flight plans with Philippine Air Force pilots during the Cope Thunder 25-2 exercise at Clark Air Base, Philippines, July 7, 2025. The training conducted between the U.S. and Philippine Air Force strengthens both the ability to respond together for potential future crises, contingencies and natural disasters. (U.S. Air Force photo by Airman 1st Class Aden Brown) (Image blurred for operational security)

“We worked closely with the PAF pilots, and it was clear they are professional and highly capable aviators that employ their weapon systems with skill and precision,” said Capt. Tobey Fisher, 421st Mission Generation Force Element F-35A instructor pilot. “Additionally, this exercise afforded the 421st MGFE the opportunity to operate at a remote airfield with minimal support.”

The F-35A maintenance team supported Cope Thunder 25-2 with a lean, agile team, operating with roughly one-third of the personnel they typically have at their home station.

“It’s really cool to see such a small team come here and execute the mission,” said Maj. Clinton Bialcak, 421st Fighter Generation Squadron commander, referring to executing the F-35 maintenance mission. “I think everyone in the region, in the world and in the Department of Defense sees that we can do it and they can rely on us.”

The U.S. Air Force’s participation reflects ongoing efforts to strengthen coordination with regional allies and partners.

MIL Security OSI –

July 24, 2025

MIL-OSI USA: Senator Marshall: This is the Greatest Betrayal of American Trust in My Lifetime

US Senate News:

Source: United States Senator for Kansas Roger Marshall

Senator Marshall Joins The Joe Pags Show to Discuss DNI’s Russia Report
Washington – On Wednesday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Joe Pags on the Joe Pags Show to discuss Medicaid and rural hospitals, the MAHA agenda, what needs to be done to help improve American healthcare outcomes, and what will happen to the perpetrators identified in DNI Tulsi Gabbard’s recent report about the Russia misinformation scandal.

Click HERE or on the image above to watch Senator Marshall’s full interview.
On the challenges facing rural hospitals:
“This is one of my favorite topics. You know, I practiced medicine for 25 years in one of these rural hospitals. I helped run the hospital, delivered a baby every day in one of these hospitals for 25 years. You know, the challenge right now for rural hospitals is the rural economy. We have many counties that have lost half their population. They’re all moving to big, wonderful cities like Kansas City and Wichita. So the rural economy is really struggling. Only 5% of Medicaid dollars ever make it to rural America. So yes, 60% of rural hospitals are really struggling.
And enter the One Big, Beautiful Bill – we try to help the rural economy by helping out with crop insurance, reference prices, doubling the death tax, and some of those types of business tax issues as well. So I think it’s the economy, right?”
On Democrat misinformation regarding Medicaid and rural hospitals:“Joe, I think the left controls 90% of the message. They control the national media; it is that simple. But I came to Washington, DC, to save healthcare, and I think that we’ve saved Medicaid. For now, we’ve saved it. We put it back on solid financial footing so that Medicaid is there for those who need it the most. For senior citizens in nursing homes, for people with disabilities, for pregnant women, for children.
“No one’s going to lose Medicaid unless they’re on it illegally, and there are 2 million people on it illegally right now. 2 million people getting it from two states right now. And then, the only other people that will lose their Medicaid are people that refuse to work. And all we’re asking is people work for 20 hours a week. When did having a job, when was that considered punishment? Why is that a bad thing?
“I’m going to give you one more stat, Joe, is that 20 years ago, there was only 7 million healthy people on Medicaid. Today, there’s 34 million healthy people on Medicaid. Let’s help those people find a job. Let’s give them education. Let’s help give them a hand up, and not a handout.”
On the importance of verifying people’s status for Medicaid:
“So this would be Medicaid expansion as you know it. So, Medicaid expansion gives Medicaid to healthy people that are above the poverty line. And then they stopped really doing any types of checks and balances on people. People could just walk in and say, I don’t have a job, I’m not making any money, they would never verify it. But we had the technology data actually verify those things pretty easily, and then we would just check things once a year. So I understand, look, I want to help medicate people out, I want to make sure no one goes to bed hungry, but this idea of just checking people once a year, not verifying their story, is just dishonest.”
On improving the quality of VA care:
“So Joe, again, what’s important to me: my dad served, my brother served, I served, my son is serving everyone. Every generation of my family, someone has served. I want to make sure that we fulfill the promise we made to veterans, but it’s been done inefficiently. It’s amazing, when President Trump 45 was in office, the wait times went down for our veterans, the care was going up, and the patient satisfaction was going up.
“But under Joe Biden, they hired more and more administrator-type of people. And now President Trump went in there and said, ‘we don’t want all this bloated administration.’ There’s hundreds of billions of dollars that we’re increasing every year for veterans. We want to make sure it’s patient interfacing. So it’s the counselors, it’s the nurses, it’s the physical therapists. Those are the people we want. We don’t want more and more bureaucrats setting up here in the VA, here in Washington, DC.”
On what might replace Obamacare:
“Absolutely, and we’ve had these conversations. My big three themes for fixing health care when I came here was anything that makes health care more transparent, anything that promotes innovation, and anything that makes patients consumers again, would drive down the cost of health care. And President Trump already has issued many executive orders on the transparency part of this that are coming to fruition as well… making hospitals show you what they’re going to charge you for if you need an MRI, make that imaging center share with you what it’s going to cost so consumers can shop more.
“So our big thrust of legislation this semester, as I call it, is we dropped a big transparency bill, which in many cases is codifying what President Trump’s executive orders are. And then there’s an issue called prior authorization, where Medicare Advantage companies, especially, are trying to prevent patients from getting the care they need.
“So I was recently with the White House and Dr. Oz, and Secretary Kennedy, putting some more rules around what they can and can’t do as far as withholding health care. So, absolutely, those conversations that went on since day one, and I’m very proud to work beside Dr. Oz, Dr. McCary, over in FDA, as well as Secretary Kennedy.”
On healthcare cost transparency and medical monopolies:
“Joe, I’m not sure if I have a great answer. I can certainly tell you that I believe that insurance companies and big hospitals wrote the ACA. And they knew exactly what they were doing. Through the years, increased regulations have led to monopolies. So, you think about healthcare in each community. There’s one hospital; there’s usually one or two insurance companies that control 80% of the market in the entire state as well. So, through the years, these monopolies have allowed them to do it more.
“So, physicians would like to own hospitals. Hospitals can own physicians, but physicians cannot own hospitals. We would like to come back in and have more competition, but that was outlawed by the ACA as well. So, whenever there’s overregulation, that’s going to lead to consolidation of the industry and get them more and more free rein.”
On the job that HHS Secretary Kennedy is doing thus far:
“Well, I think we’re just getting started again. The backdrop of this is 60% of Americans have a chronic disease. We’re spending 90% of our healthcare dollars on those chronic diseases, think heart disease, hypertension, obesity, diabetes, Alzheimer’s, cancer, and anxiety. Those seven diseases are taking up 90% of [the] dollars [spent]. We think that there’s a significant nutritional component to all those. I think that we’re going to find that alzheimers is type three diabetes.
“So, what can we do nutritionally to prevent those as well as treat them. So I’ve worked, obviously, I’ve grown up in agriculture, so I’ve had a foot in agriculture my whole life, a foot in healthcare since I was 23 or so, I started medical school, I guess.
“So, as I listened to MAHA, I listened to the American farmers, and said: Where do we meet? How do we get healthy food? Well, I think it starts with healthy soil. It’s kind of a dirty topic, if you will, but that’s the focus. That’s what we’re working with, Secretary Kennedy and Secretary Rollins at Agriculture, who’s doing an incredible job, is trying to work with our farmers to make healthier soil, which is going to lead to healthy food and healthy people. And by the way, American farmers are doing so many great things already in this area.
“So, I’ve been sharing with Secretary Kennedy best practices where we’re growing more with less. We’re decreasing by 90% the amount of fertilizer and pesticides that are leaving our field. We’re decreasing the amount that we’re putting on by 60% through modern-day agriculture practices. So, we’re working on this transition to get everybody practicing this regenerative agriculture.”
On DNI Gabbard’s Russia misinformation report:
“Joe, this is certainly new information to me. This White House meeting, with documentation of that meeting, adds Joe Biden’s name to being in that meeting as well. And I think what that document shows is this is the greatest betrayal of American trust in my lifetime. And you’re out there, your listeners right now, you’re sitting there thinking, well, the Democrats lied to us about COVID. They lied to us about Joe Biden’s health. And here’s his Royal Highness Barack Obama, that he lied to us as well and really organized this fraud, of what happened in this, Russia, Russia, Russia hoax.
“And certainly the FISA court abuse, we knew all about that, but this is news to me that we can actually trace this all the way back to it to one Oval Office meeting, and they absolutely contradicted what the intelligence community was saying. I think that’s accurate.”
On what will happen to the perpetrators of the hoax:
“Yeah, Joe, I think it’s all the above. Certainly, we need the Justice Department to go full speed ahead and do whatever they can do. And meanwhile, the House and the Senate both have investigative committees. James Comer leads that over on the House side, and Rand Paul here on the Senate side. Ron Johnson also has a subcommittee that can focus on this as well. So, all of this needs to happen. Congress’s job is to expose everything and then let the Justice Department prosecute.
“But regardless of where it goes, Joe, I think the story here, to me, is this betrayal of American trust as a physician. One of the first things I learned is that once you lose your reputation, you never get it back. And Americans don’t trust the federal government right now, and why would they right? So, I’m trying to work day and night to help restore that trust, but I think the Democrats just keep digging and digging a hole further and deeper. You know, the first thing you need to do when you’re in a hole is to stop digging. And here they are again, once again, in a deep, deep hole.”
On the American right wanting to see arrests:
“Joe, I sure hope so. I just want to tell you, you sound like my wife. You sound like my mom and dad. They say why isn’t somebody in handcuffs? Everything Hillary Clinton did to erase those emails. And the FISA court abuse. I’m not satisfied. You know, the judges should have paid the price for that. Everyone involved in that food chain of the FISA court abuse should have been fired at a minimum. And maybe one person went to jail, as I recall that.
“So here we are. This is the next chapter of the FISA court abuse, and I think that’s what gives this story legs is… you dove into that story. I dove into that story, saying, my gosh, how did they do this? How did they fall for this, I mean, without orchestrating it? I sure hope so. I’m not a person to overpromise and underdeliver. I do think that Pam Bondi is serious. She would love to throw someone in jail. And I have a feeling Tulsi Gabbard would as well.”

MIL OSI USA News –

July 24, 2025

MIL-OSI: United Fire Group, Inc. announces its second quarter 2025 earnings call

Source: GlobeNewswire (MIL-OSI)

CEDAR RAPIDS, Iowa, July 23, 2025 (GLOBE NEWSWIRE) — United Fire Group, Inc. (Nasdaq: UFCS) (UFG) announced today that its second quarter 2025 earnings results will be released after the market closes on Tuesday, August 5, 2025. An earnings call will be held on Wednesday, August 6, 2025, at 9 a.m. CT to allow securities analysts, shareholders and other interested parties the opportunity to hear management discuss the company’s second quarter 2025 results.

Teleconference: Dial-in information for the call is toll-free 1-844-492-3723 (international 1-412-542-4184). Participants should request to join the United Fire Group call. The event will be archived and available for digital replay through August 13, 2025. The replay access information is toll-free 1-877-344-7529 (international 1-412-317-0088); access code no. 5978627.

Webcast: A webcast of the teleconference can be accessed at https://ir.ufginsurance.com/events-and-presentations/ or https://event.choruscall.com/mediaframe/webcast.html?webcastid=R1wjMA18. The archived audio webcast will be available for one year.

Transcript: A transcript of the teleconference will be available on the company’s website soon after the completion of the teleconference.

About UFG:

Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance. The company is licensed as a property and casualty insurer in 50 states and the District of Columbia, and is represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of “A-” (Excellent) for members of the United Fire & Casualty Group. For more information about UFG, visit www.ufginsurance.com.

Contact: Investor relations at ir@unitedfiregroup.com.

The MIL Network –

July 24, 2025

MIL-OSI: United Fire Group, Inc. announces its second quarter 2025 earnings call

Source: GlobeNewswire (MIL-OSI)

CEDAR RAPIDS, Iowa, July 23, 2025 (GLOBE NEWSWIRE) — United Fire Group, Inc. (Nasdaq: UFCS) (UFG) announced today that its second quarter 2025 earnings results will be released after the market closes on Tuesday, August 5, 2025. An earnings call will be held on Wednesday, August 6, 2025, at 9 a.m. CT to allow securities analysts, shareholders and other interested parties the opportunity to hear management discuss the company’s second quarter 2025 results.

Teleconference: Dial-in information for the call is toll-free 1-844-492-3723 (international 1-412-542-4184). Participants should request to join the United Fire Group call. The event will be archived and available for digital replay through August 13, 2025. The replay access information is toll-free 1-877-344-7529 (international 1-412-317-0088); access code no. 5978627.

Webcast: A webcast of the teleconference can be accessed at https://ir.ufginsurance.com/events-and-presentations/ or https://event.choruscall.com/mediaframe/webcast.html?webcastid=R1wjMA18. The archived audio webcast will be available for one year.

Transcript: A transcript of the teleconference will be available on the company’s website soon after the completion of the teleconference.

About UFG:

Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance. The company is licensed as a property and casualty insurer in 50 states and the District of Columbia, and is represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of “A-” (Excellent) for members of the United Fire & Casualty Group. For more information about UFG, visit www.ufginsurance.com.

Contact: Investor relations at ir@unitedfiregroup.com.

The MIL Network –

July 24, 2025

MIL-OSI: QCR Holdings, Inc. Announces Net Income of $29.0 Million for the Second Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

Second Quarter 2025 Highlights

Net income of $29.0 million, or $1.71 per diluted share
Adjusted net income¹of $29.4 million, or $1.73 per diluted share
NIM TEY¹expanded four basis points to 3.46%
Adjusted ROAA¹of 1.29% annualized
Capital markets revenue growth of 51% on a linked-quarter basis
Nonperforming assets declined $5.5 million, or 11%
Tangible book value per share¹grew $1.64, or 13% annualized
TCE/TA ratio¹improved 22 basis points to 9.92%

MOLINE, Ill., July 23, 2025 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced quarterly net income of $29.0 million and diluted earnings per share (“EPS”) of $1.71 for the second quarter of 2025, compared to net income of $25.8 million and diluted EPS of $1.52 for the first quarter of 2025.

Adjusted net income¹ and adjusted diluted EPS¹ for the second quarter of 2025 were $29.4 million and $1.73, respectively, for the first quarter of 2025 compared to $26.0 million and $1.53, respectively, for the first quarter of 2025 and $29.3 million, and $1.73 respectively for the second quarter of 2024.

	For the Quarter Ended
	June 30,		March 31,		June 30,
$ in millions (except per share data)	2025		2025		2024
Net Income	$	29.0	$	25.8	$	29.1
Diluted EPS	$	1.71	$	1.52	$	1.72
Adjusted Net Income¹	$	29.4	$	26.0	$	29.3
Adjusted Diluted EPS¹	$	1.73	$	1.53	$	1.73

“We delivered strong second quarter results highlighted by a significant increase in net interest income from the previous quarter, driven by both net interest margin expansion and strong loan growth, as well as improved capital markets revenue, and disciplined noninterest expense management,” said Todd Gipple, President and Chief Executive Officer. “These robust results led to continued capital accretion and a substantial increase in tangible book value per share¹.”

Significant Net Interest Income Growth as Margin Expansion Continues

Net interest income for the second quarter of 2025 totaled $62.1 million, an increase of $2.1 million, or 14% annualized, from the first quarter of 2025, driven by strong earning asset growth, expanded yield on loans and investments, and lower cost of funds. Net interest margin (“NIM”) was 2.97% and NIM on a tax-equivalent yield (“TEY”) basis¹ was 3.46% for the second quarter, as compared to 2.95% and 3.42% for the prior quarter, respectively.

“Our NIM TEY¹ increased four basis points from the first quarter of 2025, which was at the top of our guidance range,” said Nick Anderson, Chief Financial Officer. “Looking ahead, we anticipate continued margin expansion and are guiding to an increase in third quarter NIM TEY¹ in a range from static to an increase of four basis points, assuming no Federal Reserve rate cuts,” added Mr. Anderson.

Improving Noninterest Income Driven by Capital Markets Revenue

Noninterest income for the second quarter of 2025 was $22.1 million, up from $16.9 million in the first quarter of 2025. The Company generated $9.9 million of capital markets revenue in the second quarter of 2025 compared to $6.5 million in the prior quarter. Wealth management revenue totaled $4.6 million, representing a slight decline from the first quarter of 2025. However, it increased $332 thousand or 8% compared to the second quarter of 2024 and rose 23% year-to-date on an annualized basis compared to the same period in 2024.

“During the second quarter of 2025 we saw improved low-income housing tax credit (“LIHTC”) lending activity compared to the first quarter as clients adjusted to the current environment. This increased activity drove 51% growth in our capital markets revenue. The sustained, long-term demand for affordable housing continues to support our LIHTC lending and related capital markets revenue. Our pipeline continues to improve as clients adapt to the evolving market conditions,” said Mr. Gipple.

“Given the strengthened pipeline, we are reaffirming our guidance for Capital Markets revenue to be in a range of $50 to $60 million for the next four quarters. In addition, we are also providing guidance over a shorter horizon and expect capital markets revenue for the third quarter to be fully back to a more normalized level and in a range of $13 to $16 million for the quarter,” added Mr. Gipple.

Disciplined Noninterest Expense Management

Noninterest expense for the second quarter of 2025 totaled $49.6 million compared to $46.5 million for the first quarter of 2025 and $49.9 million for the second quarter of 2024. The $3.1 million linked-quarter increase was primarily due to higher capital markets revenue and strong loan growth resulting in an improved return on average assets which drove higher variable compensation. Professional and data processing expenses also increased and were related to the Company’s digital transformation.

“While expenses increased compared to the first quarter, we held noninterest expense under the low end of our guidance range of $50 to $53 million, highlighting our expense flexibility,” said Mr. Anderson. “Noninterest expense remains well managed, down 9% year to date on an annualized basis compared to the same period in 2024. The Company’s efficiency ratio¹ was 58.9% in the second quarter. For the third quarter of 2025, we expect noninterest expense to be in the range of $52 to $55, million which includes certain costs associated with our digital transformation and assumes both capital markets revenue and loan growth are within our guidance range,” added Mr. Anderson.

Strong Loan Growth

In the second quarter of 2025, the Company’s total loans and leases held for investment grew by $102.6 million, to $6.9 billion. “Loan growth was 8% annualized when adding back the impact from the planned runoff of m2 Equipment Finance loans and leases. Second quarter loan growth was driven by both our LIHTC and traditional lending businesses. Our pipeline is strong, and we anticipate loan demand to increase as clients continue to adapt to current market conditions,” stated Mr. Gipple. “We continue to be optimistic about solid loan growth for the remainder of the year and are guiding to gross loan growth in a range of 8% to 10% in the second half of the year,” added Mr. Gipple.

Maintaining Core Deposit Strength

Following the robust deposit growth of $276.2 million, or 16% annualized, in the first quarter of 2025, the majority of those balances were retained throughout the second quarter. Total deposits declined slightly by $19.0 million, or 1% annualized from the first quarter, while average deposit balances increased $72.0 million. Year-to-date, core deposits have increased by $311 million, or 9% annualized.

Asset Quality Remains Excellent

The nonperforming assets (“NPAs”) to total assets ratio was 0.46% as of June 30, 2025, down seven basis points from the prior quarter. NPAs totaled $42.7 million at the end of the second quarter of 2025, a $5.5 million, or 11% decrease from the prior quarter.

Total criticized loans increased by $9.3 million on a linked-quarter basis. The ratio of criticized loans to total loans and leases as of June 30, 2025, increased to 2.16% as compared to 2.06% as of March 31, 2025. Despite the 10 basis point increase, the criticized loan ratio remains well below the Company’s long-term historical average.

The Company recorded a total provision for credit losses of $4.0 million during the quarter, which was down slightly from $4.2 million in the prior quarter. Net charge-offs were $6.3 million during the second quarter of 2025, an increase of $2.1 million from the prior quarter primarily due to the charge-off of loans that had previously been fully reserved. The allowance for credit losses to total loans held for investment was 1.28% for the second quarter.

Strong Tangible Book Value and Regulatory Capital Growth

The Company’s tangible book value per share¹ increased by $1.64, or 13% annualized, during the second quarter of 2025 due to the combination of strong earnings and a modest dividend.

As of June 30, 2025, the Company’s tangible common equity to tangible assets ratio (“TCE”)¹ increased 22 basis points to 9.92%. The improvement in TCE¹ was driven by strong earnings during the quarter. The total risk-based capital ratio increased to 14.26% and the common equity tier 1 ratio increased to 10.43% due to solid earnings growth during the quarter. By comparison, these ratios were 9.70%, 14.18%, and 10.27%, respectively, as of March 31, 2025. The Company remains focused on growing its regulatory capital.

Conference Call Details
The Company will host an earnings call/webcast tomorrow, July 24, 2025, at 10:00 a.m. Central Time. Dial-in information for the call is toll-free: 888-346-9286 (international 412-317-5253). Participants should request to join the QCR Holdings, Inc. call. The event will be available for replay through July 31, 2025. The replay access information is 877-344-7529 (international 412-317-0088); access code 8414968. A webcast of the teleconference can be accessed on the Company’s News and Events page at www.qcrh.com. An archived version of the webcast will be available at the same location shortly after the live event has ended.

About Us
QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, and Guaranty Bank, based in Springfield, Missouri, was acquired by the Company in 2018. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. The Company has 36 locations in Iowa, Missouri, and Illinois. As of June 30, 2025, the Company had $9.2 billion in assets, $6.9 billion in loans and $7.3 billion in deposits. For additional information, please visit the Company’s website at www.qcrh.com.

Endnotes

¹Adjusted non-GAAP measurements of financial performance exclude non-core and/or nonrecurring income and expense items that management believes are not reflective of the anticipated future operation of the Company’s business. The Company believes these adjusted measurements provide a better comparison for analysis and may provide a better indicator of future performance. See GAAP to non-GAAP reconciliations.

Special Note Concerning Forward-Looking Statements. This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets, including effects of inflationary pressures, the threat or implementation of tariffs, trade wars and changes to immigration policy; (ii) changes in, and the interpretation and prioritization of, local, state and federal laws, regulations and governmental policies (including those concerning the Company’s general business); (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the FASB, the Securities and Exchange Commission (the “SEC”) or the PCAOB; (v) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vi) increased competition in the financial services sector, including from non-bank competitors such as credit unions, fintech companies, and digital asset service providers and the inability to attract new customers; (vii) rapid technological changes implemented by us and our third-party vendors, including the development and implementation of tools incorporating artificial intelligence; (viii) unexpected results of acquisitions, including failure to realize the anticipated benefits of the acquisitions and the possibility that transaction and integration costs may be greater than anticipated; (ix) the loss of key executives and employees, talent shortages and employee turnover; (x) changes in consumer spending; (xi) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiii) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xiv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xv) the overall health of the local and national real estate market; (xvi) the ability to maintain an adequate level of allowance for credit losses on loans; (xvii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xviii) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xix) the level of non-performing assets on our balance sheet; (xx) interruptions involving our information technology and communications systems or third-party servicers; (xxi) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxii) changes in the interest rates and repayment rates of the Company’s assets; (xxiii) the effectiveness of the Company’s risk management framework, and (xxiv) the ability of the Company to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the SEC.

Contact:
Nick W. Anderson
Chief Financial Officer
(309) 743-7707
nanderson@qcrh.com

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

		As of
		June 30,			March 31,			December 31,			September 30,			June 30,
			2025			2025			2024			2024			2024

		(dollars in thousands)

	CONDENSED BALANCE SHEET

	Cash and due from banks	$	104,769		$	98,994		$	91,732		$	103,840		$	92,173
	Federal funds sold and interest-bearing deposits		145,704			225,716			170,592			159,159			102,262
	Securities, net of allowance for credit losses		1,263,452			1,220,717			1,200,435			1,146,046			1,033,199
	Loans receivable held for sale (1)		1,162			2,025			2,143			167,047			246,124
	Loans/leases receivable held for investment		6,923,762			6,821,142			6,782,261			6,661,755			6,608,262
	Allowance for credit losses		(88,732	)		(90,354	)		(89,841	)		(86,321	)		(87,706	)
	Intangibles		9,738			10,400			11,061			11,751			12,441
	Goodwill		138,595			138,595			138,595			138,596			139,027
	Derivatives		184,982			180,997			186,781			261,913			194,354
	Other assets		558,899			544,547			532,271			524,779			531,855
	Total assets	$	9,242,331		$	9,152,779		$	9,026,030		$	9,088,565		$	8,871,991

	Total deposits	$	7,318,353		$	7,337,390		$	7,061,187		$	6,984,633		$	6,764,667
	Total borrowings		509,359			429,921			569,532			660,344			768,671
	Derivatives		209,505			206,925			214,823			285,769			221,798
	Other liabilities		154,560			155,796			183,101			181,199			180,536
	Total stockholders’ equity		1,050,554			1,022,747			997,387			976,620			936,319
	Total liabilities and stockholders’ equity	$	9,242,331		$	9,152,779		$	9,026,030		$	9,088,565		$	8,871,991

	ANALYSIS OF LOAN PORTFOLIO
	Loan/lease mix: (2)
	Commercial and industrial – revolving	$	380,029		$	388,479		$	387,991		$	387,409		$	362,115
	Commercial and industrial – other		1,180,859			1,231,198			1,295,961			1,321,053			1,370,561
	Commercial and industrial – other – LIHTC		194,830			212,921			218,971			89,028			92,637
	Total commercial and industrial		1,755,718			1,832,598			1,902,923			1,797,490			1,825,313
	Commercial real estate, owner occupied		593,675			599,488			605,993			622,072			633,596
	Commercial real estate, non-owner occupied		1,036,049			1,040,281			1,077,852			1,103,694			1,082,457
	Construction and land development		454,022			403,001			395,557			342,335			331,454
	Construction and land development – LIHTC		1,075,000			1,016,207			917,986			913,841			750,894
	Multi-family		301,432			289,782			303,662			324,090			329,239
	Multi-family – LIHTC		950,331			888,517			828,448			973,682			1,148,244
	Direct financing leases		12,880			14,773			17,076			19,241			25,808
	1-4 family real estate		592,253			592,127			588,179			587,512			583,542
	Consumer		153,564			146,393			146,728			144,845			143,839
	Total loans/leases	$	6,924,924		$	6,823,167		$	6,784,404		$	6,828,802		$	6,854,386
	Less allowance for credit losses		88,732			90,354			89,841			86,321			87,706
	Net loans/leases	$	6,836,192		$	6,732,813		$	6,694,563		$	6,742,481		$	6,766,680


	ANALYSIS OF SECURITIES PORTFOLIO
	Securities mix:
	U.S. government sponsored agency securities	$	14,267		$	17,487		$	20,591		$	18,621		$	20,101
	Municipal securities		1,033,642			1,003,985			971,567			965,810			885,046
	Residential mortgage-backed and related securities		58,864			43,194			50,042			53,488			54,708
	Asset backed securities		6,684			7,764			9,224			10,455			12,721
	Other securities		67,358			66,105			65,745			39,190			38,464
	Trading securities (3)		82,900			82,445			83,529			58,685			22,362
	Total securities	$	1,263,715		$	1,220,980		$	1,200,698		$	1,146,249		$	1,033,402
	Less allowance for credit losses		263			263			263			203			203
	Net securities	$	1,263,452		$	1,220,717		$	1,200,435		$	1,146,046		$	1,033,199

	ANALYSIS OF DEPOSITS
	Deposit mix:
	Noninterest-bearing demand deposits	$	952,032		$	963,851		$	921,160		$	969,348		$	956,445
	Interest-bearing demand deposits		5,087,783			5,119,601			4,828,216			4,715,087			4,644,918
	Time deposits		974,341			951,606			953,496			942,847			859,593
	Brokered deposits		304,197			302,332			358,315			357,351			303,711
	Total deposits	$	7,318,353		$	7,337,390		$	7,061,187		$	6,984,633		$	6,764,667

	ANALYSIS OF BORROWINGS
	Borrowings mix:
	Term FHLB advances	$	145,383		$	145,383		$	145,383		$	145,383		$	135,000
	Overnight FHLB advances		80,000			–			140,000			230,000			350,000
	Other short-term borrowings		1,350			2,050			1,800			2,750			1,600
	Subordinated notes		233,701			233,595			233,489			233,383			233,276
	Junior subordinated debentures		48,925			48,893			48,860			48,828			48,795
	Total borrowings	$	509,359		$	429,921		$	569,532		$	660,344		$	768,671

(1)	Loans with a fair value of $0 million, $0 million, $0 million, $165.9 million and $243.2 million have been identified for securitization and are included in LHFS at June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, respectively.
(2)	Loan categories with significant LIHTC loan balances have been broken out separately. Total LIHTC balances within the loan/lease portfolio were $2.3 billion at June 30, 2025.
(3)	Trading securities consisted of retained beneficial interests acquired in conjunction with Freddie Mac securitizations completed by the Company.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

	For the Quarter Ended
	June 30,		March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024		2024

	(dollars in thousands, except per share data)

INCOME STATEMENT
Interest income	$	120,247	$	116,673		$	121,642		$	125,420		$	119,746
Interest expense		58,165		56,687			60,438			65,698			63,583
Net interest income		62,082		59,986			61,204			59,722			56,163
Provision for credit losses		4,043		4,234			5,149			3,484			5,496
Net interest income after provision for credit losses	$	58,039	$	55,752		$	56,055		$	56,238		$	50,667


Trust fees (1)	$	3,395	$	3,686		$	3,456		$	3,270		$	3,103
Investment advisory and management fees (1)		1,254		1,254			1,320			1,229			1,214
Deposit service fees		2,187		2,183			2,228			2,294			1,986
Gains on sales of residential real estate loans, net		556		297			734			385			540
Gains on sales of government guaranteed portions of loans, net		40		61			49			–			12
Capital markets revenue		9,869		6,516			20,552			16,290			17,758
Earnings on bank-owned life insurance		998		524			797			814			2,964
Debit card fees		1,648		1,488			1,555			1,575			1,571
Correspondent banking fees		699		614			560			507			510
Loan related fee income		1,096		898			950			949			962
Fair value gain (loss) on derivatives and trading securities		230		(1,007	)		(1,781	)		(886	)		51
Other		143		378			205			730			218
Total noninterest income	$	22,115	$	16,892		$	30,625		$	27,157		$	30,889


Salaries and employee benefits	$	28,474	$	27,364		$	33,610		$	31,637		$	31,079
Occupancy and equipment expense		6,837		6,455			6,354			6,168			6,377
Professional and data processing fees		6,089		5,144			5,480			4,457			4,823
Restructuring expense		–		–			–			1,954			–
FDIC insurance, other insurance and regulatory fees		1,960		1,970			1,934			1,711			1,854
Loan/lease expense		407		381			513			587			151
Net cost of (income from) and gains/losses on operations of other real estate		50		(9	)		23			(42	)		28
Advertising and marketing		1,746		1,613			1,886			2,124			1,565
Communication and data connectivity		274		290			345			333			318
Supplies		252		207			252			278			259
Bank service charges		720		596			635			603			622
Correspondent banking expense		314		329			328			325			363
Intangibles amortization		661		661			691			690			690
Goodwill impairment		–		–			–			431			–
Payment card processing		547		594			516			785			706
Trust expense		413		357			381			395			379
Other		839		587			551			1,129			674
Total noninterest expense	$	49,583	$	46,539		$	53,499		$	53,565		$	49,888

Net income before income taxes	$	30,571	$	26,105		$	33,181		$	29,830		$	31,668
Federal and state income tax expense		1,552		308			2,956			2,045			2,554
Net income	$	29,019	$	25,797		$	30,225		$	27,785		$	29,114

Basic EPS	$	1.71	$	1.53		$	1.80		$	1.65		$	1.73
Diluted EPS	$	1.71	$	1.52		$	1.77		$	1.64		$	1.72


Weighted average common shares outstanding		16,928,542		16,900,785			16,871,652			16,846,200			16,814,814
Weighted average common and common equivalent shares outstanding		17,006,282		17,013,992			17,024,481			16,982,400			16,921,854

(1) Trust fees and investment advisory and management fees when combined are referred to as wealth management revenue.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

	For the Six Months Ended
	June 30,			June 30,
		2025			2024

	(dollars in thousands, except per share data)

INCOME STATEMENT
Interest income	$	236,920		$	234,795
Interest expense		114,852			123,933
Net interest income		122,068			110,862
Provision for credit losses		8,277			8,465
Net interest income after provision for credit losses	$	113,791		$	102,397


Trust fees	$	7,081		$	6,302
Investment advisory and management fees		2,508			2,315
Deposit service fees		4,370			4,008
Gains on sales of residential real estate loans, net		853			922
Gains on sales of government guaranteed portions of loans, net		101			36
Capital markets revenue		16,385			34,215
Earnings on bank-owned life insurance		1,522			3,832
Debit card fees		3,136			3,037
Correspondent banking fees		1,313			1,022
Loan related fee income		1,994			1,798
Fair value loss on derivatives and trading securities		(777	)		(112	)
Other		521			372
Total noninterest income	$	39,007		$	57,747


Salaries and employee benefits	$	55,838		$	62,939
Occupancy and equipment expense		13,292			12,891
Professional and data processing fees		11,233			9,436
FDIC insurance, other insurance and regulatory fees		3,930			3,799
Loan/lease expense		788			529
Net cost of (income from) and gains/losses on operations of other real estate		41			(2	)
Advertising and marketing		3,359			3,048
Communication and data connectivity		564			719
Supplies		459			534
Bank service charges		1,316			1,190
Correspondent banking expense		643			668
Intangibles amortization		1,322			1,380
Payment card processing		1,141			1,352
Trust expense		770			804
Other		1,426			1,291
Total noninterest expense	$	96,122		$	100,578

Net income before income taxes	$	56,676		$	59,566
Federal and state income tax expense		1,860			3,726
Net income	$	54,816		$	55,840

Basic EPS	$	3.24		$	3.32
Diluted EPS	$	3.22		$	3.30


Weighted average common shares outstanding		16,914,663			16,799,081
Weighted average common and common equivalent shares outstanding		17,010,136			16,916,264

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

			As of and for the Quarter Ended															For the Six Months Ended
			June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
				2025			2025			2024			2024			2024			2025			2024

			(dollars in thousands, except per share data)

		COMMON SHARE DATA
		Common shares outstanding		16,934,698			16,920,363			16,882,045			16,861,108			16,824,985
		Book value per common share (1)	$	62.04		$	60.44		$	59.08		$	57.92		$	55.65
		Tangible book value per common share (Non-GAAP) (2)	$	53.28		$	51.64		$	50.21		$	49.00		$	46.65
		Closing stock price	$	67.90		$	71.32		$	80.64		$	74.03		$	60.00
		Market capitalization	$	1,149,866		$	1,206,760		$	1,361,368		$	1,248,228		$	1,009,499
		Market price / book value		109.45	%		117.99	%		136.49	%		127.81	%		107.82	%
		Market price / tangible book value		127.45	%		138.11	%		160.59	%		151.07	%		128.62	%
		Earnings per common share (basic) LTM (3)	$	6.69		$	6.71		$	6.77		$	6.93		$	6.78
		Price earnings ratio LTM (3)	10.15 x			10.63 x			11.91 x			10.68 x			8.85 x
		TCE / TA (Non-GAAP) (4)		9.92	%		9.70	%		9.55	%		9.24	%		9.00	%


		CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
		Beginning balance	$	1,022,747		$	997,387		$	976,620		$	936,319		$	907,342
		Net income		29,019			25,797			30,225			27,785			29,114
		Other comprehensive income (loss), net of tax		(1,671	)		404			(9,628	)		12,057			(368	)
		Common stock cash dividends declared		(1,016	)		(1,015	)		(1,013	)		(1,012	)		(1,008	)
		Other (5)		1,475			174			1,183			1,471			1,239
		Ending balance	$	1,050,554		$	1,022,747		$	997,387		$	976,620		$	936,319


		REGULATORY CAPITAL RATIOS (6):
		Total risk-based capital ratio		14.26	%		14.18	%		14.10	%		13.87	%		14.21	%
		Tier 1 risk-based capital ratio		10.96	%		10.81	%		10.57	%		10.33	%		10.49	%
		Tier 1 leverage capital ratio		11.22	%		11.06	%		10.73	%		10.50	%		10.40	%
		Common equity tier 1 ratio		10.43	%		10.27	%		10.03	%		9.79	%		9.92	%


		KEY PERFORMANCE RATIOS AND OTHER METRICS
		Return on average assets (annualized)		1.27	%		1.14	%		1.34	%		1.24	%		1.33	%		1.21	%		1.30	%
		Return on average total equity (annualized)		11.15	%		10.14	%		12.15	%		11.55	%		12.63	%		10.65	%		12.32	%
		Net interest margin		2.97	%		2.95	%		2.95	%		2.90	%		2.82	%		2.95	%		2.82	%
		Net interest margin (TEY) (Non-GAAP)(7)		3.46	%		3.42	%		3.43	%		3.37	%		3.27	%		3.45	%		3.26	%
		Efficiency ratio (Non-GAAP) (8)		58.89	%		60.54	%		58.26	%		61.65	%		57.31	%		59.68	%		59.65	%
		Gross loans/leases held for investment / total assets		74.91	%		74.53	%		75.14	%		73.30	%		74.48	%		74.91	%		74.48	%
		Gross loans/leases held for investment / total deposits		94.61	%		92.96	%		96.05	%		95.38	%		97.69	%		94.61	%		97.69	%
		Effective tax rate		5.08	%		1.18	%		8.91	%		6.86	%		8.06	%		3.28	%		6.26	%
		Full-time equivalent employees (9)		1,001			972			980			976			988			1,001			988


		AVERAGE BALANCES
		Assets	$	9,155,473		$	9,015,439		$	9,050,280		$	8,968,653		$	8,776,002		$	9,085,843		$	8,663,429
		Loans/leases		6,881,731			6,790,312			6,839,153			6,840,527			6,779,075			6,836,274			6,688,844
		Deposits		7,218,540			7,146,286			7,109,567			6,858,196			6,687,188			7,182,612			6,641,324
		Total stockholders’ equity		1,041,428			1,017,487			995,012			962,302			921,986			1,029,524			912,679

(1	)	Includes accumulated other comprehensive income (loss).
(2	)	Includes accumulated other comprehensive income (loss) and excludes intangible assets. See GAAP to Non-GAAP reconciliations.
(3	)	LTM : Last twelve months.
(4	)	TCE / TCA : tangible common equity / total tangible assets. See GAAP to non-GAAP reconciliations.
(5	)	Includes mostly common stock issued for options exercised and the employee stock purchase plan, as well as stock-based compensation.
(6	)	(6) Ratios for the current quarter are subject to change upon final calculation for regulatory filings due after earnings release.
(7	)	TEY : Tax equivalent yield. See GAAP to Non-GAAP reconciliations.
(8	)	See GAAP to Non-GAAP reconciliations.
(9	)	The increase in full-time equivalent employees in the second quarter of 2025 includes 21 summer interns.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

		ANALYSIS OF NET INTEREST INCOME AND MARGIN

			For the Quarter Ended
			June 30, 2025						March 31, 2025						June 30, 2024
			Average Balance		Interest Earned or Paid		Average Yield or Cost		Average Balance		Interest Earned or Paid		Average Yield or Cost		Average Balance		Interest Earned or Paid		Average Yield or Cost

			(dollars in thousands)

		Fed funds sold	$	14,285	$	159	4.40	%	$	9,009	$	99	4.40	%	$	13,065	$	183	5.54	%
		Interest-bearing deposits at financial institutions		151,898		1,634	4.31	%		166,897		1,804	4.38	%		80,998		1,139	5.66	%
		Investment securities – taxable		401,657		4,805	4.79	%		400,779		4,588	4.59	%		377,747		4,286	4.53	%
		Investment securities – nontaxable (1)		893,753		12,872	5.76	%		843,476		11,722	5.57	%		704,761		9,462	5.37	%
		Restricted investment securities		34,037		622	7.23	%		30,562		534	6.99	%		43,398		869	7.92	%
		Loans (1)		6,881,731		110,245	6.43	%		6,790,312		107,439	6.42	%		6,779,075		112,719	6.69	%
		Total earning assets (1)	$	8,377,361	$	130,337	6.24	%	$	8,241,035	$	126,186	6.20	%	$	7,999,044	$	128,658	6.46	%

		Interest-bearing deposits	$	5,080,367	$	38,604	3.05	%	$	5,005,853	$	37,698	3.05	%	$	4,649,625	$	40,924	3.54	%
		Time deposits		1,193,035		12,409	4.17	%		1,204,593		12,690	4.27	%		1,091,870		12,128	4.47	%
		Short-term borrowings		1,420		15	4.23	%		1,839		18	3.97	%		1,622		21	5.18	%
		Federal Home Loan Bank advances		250,603		2,853	4.50	%		177,883		1,996	4.49	%		464,231		6,238	5.32	%
		Subordinated debentures		233,631		3,599	6.16	%		233,525		3,601	6.17	%		233,207		3,582	6.14	%
		Junior subordinated debentures		48,904		685	5.54	%		48,871		684	5.60	%		48,774		688	5.58	%
		Total interest-bearing liabilities	$	6,807,960	$	58,165	3.42	%	$	6,672,564	$	56,687	3.44	%	$	6,489,329	$	63,581	3.93	%

		Net interest income (1)			$	72,172					$	69,499					$	65,077
		Net interest margin (2)					2.97	%					2.95	%					2.82	%
		Net interest margin (TEY) (Non-GAAP) (1) (2) (3)					3.46	%					3.42	%					3.27	%
		Adjusted net interest margin (TEY) (Non-GAAP) (1) (2) (3)					3.45	%					3.41	%					3.26	%
		Cost of funds (4)					3.01	%					3.02	%					3.43	%


			For the Six Months Ended
			June 30, 2025						June 30, 2024
			Average Balance		Interest Earned or Paid		Average Yield or Cost		Average Balance		Interest Earned or Paid		Average Yield or Cost

			(dollars in thousands)

		Fed funds sold	$	11,662	$	258	4.40	%	$	16,510	$	452	5.41	%
		Interest-bearing deposits at financial institutions		159,356		3,438	4.35	%		86,277		2,339	5.45	%
		Investment securities – taxable		401,220		9,393	4.69	%		375,644		8,546	4.54	%
		Investment securities – nontaxable (1)		868,754		24,594	5.67	%		695,365		18,813	5.41	%
		Restricted investment securities		32,309		1,156	7.12	%		40,742		1,543	7.49	%
		Loans (1)		6,836,274		217,684	6.42	%		6,688,844		220,392	6.63	%
		Total earning assets (1)	$	8,309,575	$	256,523	6.22	%	$	7,903,382	$	252,085	6.41	%

		Interest-bearing deposits	$	5,041,914	$	76,302	3.05	%	$	4,589,479	$	80,027	3.51	%
		Time deposits		1,198,782		25,098	4.22	%		1,099,746		24,473	4.48	%
		Short-term borrowings		1,629		33	4.05	%		1,688		44	5.19	%
		Federal Home Loan Bank advances		214,444		4,849	4.50	%		409,725		10,977	5.30	%
		Subordinated debentures		233,579		7,201	6.17	%		233,154		7,062	6.06	%
		Junior subordinated debentures		48,888		1,369	5.57	%		48,758		1,381	5.60	%
		Total interest-bearing liabilities	$	6,739,236	$	114,852	3.43	%	$	6,382,550	$	123,964	3.90	%

		Net interest income (1)			$	141,671					$	128,121
		Net interest margin (2)					2.95	%					2.82	%
		Net interest margin (TEY) (Non-GAAP) (1) (2) (3)					3.45	%					3.26	%
		Adjusted net interest margin (TEY) (Non-GAAP) (1) (2) (3)					3.44	%					3.24	%
		Cost of funds (4)					3.01	%					3.39	%


(1	)	Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.
(2	)	See “Select Financial Data – Subsidiaries” for a breakdown of amortization/accretion included in net interest margin for each period presented.
(3	)	TEY : Tax equivalent yield. See GAAP to Non-GAAP reconciliations.
(4	)	Cost of funds includes the effect of noninterest-bearing deposits.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

			As of
			June 30,			March 31,			December 31,			September 30,			June 30,
				2025			2025			2024			2024			2024

			(dollars in thousands, except per share data)

		ROLLFORWARD OF ALLOWANCE FOR CREDIT LOSSES ON LOANS/LEASES
		Beginning balance	$	90,354		$	89,841		$	86,321		$	87,706		$	84,470
		Change in ACL for transfer of loans to LHFS		–			–			93			(1,812	)		498
		Credit loss expense		4,667			4,743			6,832			3,828			4,343
		Loans/leases charged off		(6,490	)		(4,944	)		(4,787	)		(3,871	)		(1,751	)
		Recoveries on loans/leases previously charged off		201			714			1,382			470			146
		Ending balance	$	88,732		$	90,354		$	89,841		$	86,321		$	87,706


		NONPERFORMING ASSETS
		Nonaccrual loans/leases	$	42,482		$	47,259		$	40,080		$	33,480		$	33,546
		Accruing loans/leases past due 90 days or more		7			356			4,270			1,298			87
		Total nonperforming loans/leases		42,489			47,615			44,350			34,778			33,633
		Other real estate owned		62			402			661			369			369
		Other repossessed assets		113			122			543			542			512
		Total nonperforming assets	$	42,664		$	48,139		$	45,554		$	35,689		$	34,514


		ASSET QUALITY RATIOS
		Nonperforming assets / total assets		0.46	%		0.53	%		0.50	%		0.39	%		0.39	%
		ACL for loans and leases / total loans/leases held for investment		1.28	%		1.32	%		1.32	%		1.30	%		1.33	%
		ACL for loans and leases / nonperforming loans/leases		208.84	%		189.76	%		202.57	%		248.21	%		260.77	%
		Net charge-offs as a % of average loans/leases		0.09	%		0.06	%		0.05	%		0.05	%		0.02	%



		INTERNALLY ASSIGNED RISK RATING (1)
		Special mention	$	68,621		$	55,327		$	73,636		$	80,121		$	85,096
		Substandard (2)		81,040			85,033			84,930			70,022			80,345
		Doubtful (2)		–			–			–			–			–
		Total Criticized loans (3)	$	149,661		$	140,360		$	158,566		$	150,143		$	165,441

		Classified loans as a % of total loans/leases (2)		1.17	%		1.25	%		1.25	%		1.03	%		1.17	%
		Total Criticized loans as a % of total loans/leases (3)		2.16	%		2.06	%		2.34	%		2.20	%		2.41	%

(1	)	Amounts exclude the government guaranteed portion, if any. The Company assigns internal risk ratings of Pass for the government guaranteed portion.
(2	)	Classified loans are defined as loans with internally assigned risk ratings of 10 or 11, regardless of performance, and include loans identified as Substandard or Doubtful.
(3	)	Total Criticized loans are defined as loans with internally assigned risk ratings of 9, 10, or 11 , regardless of performance, and include loans identified as Special Mention, Substandard, or Doubtful.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

			For the Quarter Ended									For the Year Ended
			June 30,			March 31,			June 30,			June 30,			June 30,
		SELECT FINANCIAL DATA – SUBSIDIARIES		2025			2025			2024			2025			2024
			(dollars in thousands)

		TOTAL ASSETS
		Quad City Bank and Trust (1)	$	2,662,450		$	2,777,634		$	2,559,049
		m2 Equipment Finance, LLC		242,722			276,096			359,012
		Cedar Rapids Bank and Trust		2,664,293			2,617,143			2,428,267
		Community State Bank		1,605,966			1,583,646			1,531,109
		Guaranty Bank		2,365,944			2,331,944			2,369,754

		TOTAL DEPOSITS
		Quad City Bank and Trust (1)	$	2,309,942		$	2,397,047		$	2,100,520
		Cedar Rapids Bank and Trust		1,884,370			1,883,952			1,721,564
		Community State Bank		1,272,296			1,238,307			1,188,551
		Guaranty Bank		1,866,749			1,840,774			1,791,448

		TOTAL LOANS & LEASES
		Quad City Bank and Trust (1)	$	2,032,168		$	2,041,181		$	2,107,605
		m2 Equipment Finance, LLC		250,019			284,983			363,897
		Cedar Rapids Bank and Trust		1,852,316			1,790,065			1,736,438
		Community State Bank		1,206,735			1,197,005			1,162,686
		Guaranty Bank		1,833,706			1,794,915			1,847,658

		TOTAL LOANS & LEASES / TOTAL DEPOSITS
		Quad City Bank and Trust (1)		88	%		85	%		100	%
		Cedar Rapids Bank and Trust		98	%		95	%		101	%
		Community State Bank		95	%		97	%		98	%
		Guaranty Bank		98	%		98	%		103	%


		TOTAL LOANS & LEASES / TOTAL ASSETS
		Quad City Bank and Trust (1)		76	%		73	%		82	%
		Cedar Rapids Bank and Trust		70	%		68	%		72	%
		Community State Bank		75	%		76	%		76	%
		Guaranty Bank		78	%		77	%		78	%

		ACL ON LOANS/LEASES HELD FOR INVESTMENT AS A PERCENTAGE OF LOANS/LEASES HELD FOR INVESTMENT
		Quad City Bank and Trust (1)		1.32	%		1.44	%		1.43	%
		m2 Equipment Finance, LLC		4.26	%		4.37	%		3.86	%
		Cedar Rapids Bank and Trust		1.35	%		1.38	%		1.38	%
		Community State Bank		1.09	%		1.08	%		1.08	%
		Guaranty Bank		1.29	%		1.30	%		1.13	%

		RETURN ON AVERAGE ASSETS (ANNUALIZED)
		Quad City Bank and Trust (1)		1.24	%		1.31	%		0.88	%		1.28	%		0.84	%
		Cedar Rapids Bank and Trust		2.36	%		2.14	%		2.94	%		2.25	%		3.01	%
		Community State Bank		1.31	%		1.07	%		1.26	%		1.19	%		1.25	%
		Guaranty Bank		0.85	%		0.72	%		1.42	%		0.79	%		1.15	%

		NET INTEREST MARGIN PERCENTAGE (2)
		Quad City Bank and Trust (1)		3.45	%		3.45	%		3.39	%		3.45	%		3.35	%
		Cedar Rapids Bank and Trust		3.99	%		4.00	%		3.75	%		4.00	%		3.76	%
		Community State Bank		3.87	%		3.78	%		3.72	%		3.83	%		3.74	%
		Guaranty Bank (3)		3.11	%		3.05	%		2.99	%		3.08	%		2.99	%

		ACQUISITION-RELATED AMORTIZATION/ACCRETION INCLUDED IN NET
		INTEREST MARGIN, NET
		Community State Bank	$	(1	)	$	(1	)	$	(1	)	$	(2	)	$	(2	)
		Guaranty Bank		118			218			301			336			697
		QCR Holdings, Inc. (4)		(33	)		(33	)		(32	)		(66	)		(64	)

(1	)	Quad City Bank and Trust amounts include m2 Equipment Finance, LLC, as this entity is wholly-owned and consolidated with the Bank. m2 Equipment Finance, LLC is also presented separately for certain (applicable) measurements.
(2	)	Includes nontaxable securities and loans. Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.
(3	)	Guaranty Bank’s net interest margin percentage includes various purchase accounting adjustments. Excluding those adjustments, net interest margin (Non-GAAP) would have been 2.86% for the quarter ended June 30, 2025, 2.91% for the quarter ended March 31, 2025 and 2.86% for the quarter ended June 30, 2024.
(4	)	Relates to the trust preferred securities acquired as part of the Guaranty Bank acquisition in 2017 and the Community National Bank acquisition in 2013.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

			As of
			June 30,			March 31,			December 31,			September 30,			June 30,
		GAAP TO NON-GAAP RECONCILIATIONS		2025			2025			2024			2024			2024
			(dollars in thousands, except per share data)
		TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS RATIO (1)

		Stockholders’ equity (GAAP)	$	1,050,554		$	1,022,747		$	997,387		$	976,620		$	936,319
		Less: Intangible assets		148,333			148,995			149,657			150,347			151,468
		Tangible common equity (non-GAAP)	$	902,221		$	873,752		$	847,730		$	826,273		$	784,851

		Total assets (GAAP)	$	9,242,331		$	9,152,779		$	9,026,030		$	9,088,565		$	8,871,991
		Less: Intangible assets		148,333			148,995			149,657			150,347			151,468
		Tangible assets (non-GAAP)	$	9,093,998		$	9,003,784		$	8,876,373		$	8,938,218		$	8,720,523

		Tangible common equity to tangible assets ratio (non-GAAP)		9.92	%		9.70	%		9.55	%		9.24	%		9.00	%



(1	)	This ratio is a non-GAAP financial measure. The Company’s management believes that this measurement is important to many investors in the marketplace who are interested in changes period-to-period in common equity. In compliance with applicable rules of the SEC, this non-GAAP measure is reconciled to stockholders’ equity and total assets, which are the most directly comparable GAAP financial measures.

QCR Holdings, Inc.
Consolidated Financial Highlights
(Unaudited)

		GAAP TO NON-GAAP RECONCILIATIONS	For the Quarter Ended															For the Six Months Ended
			June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
		ADJUSTED NET INCOME (1)		2025			2025			2024			2024			2024			2025			2024
			(dollars in thousands, except per share data)

		Net income (GAAP)	$	29,019		$	25,797		$	30,225		$	27,785		$	29,114		$	54,816		$	55,840

		Less non-core items (post-tax) (2):
		Income:
		Fair value loss on derivatives, net		(397	)		(156	)		(2,594	)		(542	)		(145	)		(553	)		(288	)
		Total non-core income (non-GAAP)	$	(397	)	$	(156	)	$	(2,594	)	$	(542	)	$	(145	)	$	(553	)	$	(288	)

		Expense:
		Goodwill impairment		–			–			–			431			–			–			–
		Restructuring expense		–			–			–			1,544			–			–			–
		Total non-core expense (non-GAAP)	$	–		$	–		$	–		$	1,975		$	–		$	–		$	–


		Adjusted net income (non-GAAP) (1)	$	29,416		$	25,953		$	32,819		$	30,302		$	29,259		$	55,369		$	56,128

		ADJUSTED EARNINGS PER COMMON SHARE (1)

		Adjusted net income (non-GAAP) (from above)	$	29,416		$	25,953		$	32,819		$	30,302		$	29,259		$	55,369		$	56,128

		Weighted average common shares outstanding		16,928,542			16,900,785			16,871,652			16,846,200			16,814,814			16,914,663			16,799,081
		Weighted average common and common equivalent shares outstanding		17,006,282			17,013,992			17,024,481			16,982,400			16,921,854			17,010,136			16,916,264

		Adjusted earnings per common share (non-GAAP):
		Basic	$	1.74		$	1.54		$	1.95		$	1.80		$	1.74		$	3.27		$	3.34
		Diluted	$	1.73		$	1.53		$	1.93		$	1.78		$	1.73		$	3.26		$	3.32

		ADJUSTED RETURN ON AVERAGE ASSETS AND AVERAGE EQUITY (1)

		Adjusted net income (non-GAAP) (from above)	$	29,416		$	25,953		$	32,819		$	30,302		$	29,259		$	55,369		$	56,128

		Average Assets	$	9,155,473		$	9,015,439		$	9,050,280		$	8,968,653		$	8,776,002		$	9,085,843		$	8,663,429

		Adjusted return on average assets (annualized) (non-GAAP)		1.29	%		1.15	%		1.45	%		1.35	%		1.33	%		1.22	%		1.30	%
		Adjusted return on average equity (annualized) (non-GAAP)		11.30	%		10.20	%		13.19	%		12.60	%		12.69	%		10.76	%		12.30	%

		NET INTEREST MARGIN (TEY) (3)

		Net interest income (GAAP)	$	62,082		$	59,986		$	61,204		$	59,722		$	56,163		$	122,068		$	110,862
		Plus: Tax equivalent adjustment (4)		10,090			9,513			9,698			9,544			8,914			19,603			17,259
		Net interest income – tax equivalent (non-GAAP)	$	72,172		$	69,499		$	70,902		$	69,266		$	65,077		$	141,671		$	128,121
		Less: Acquisition accounting net accretion		84			184			471			463			268			268			631
		Adjusted net interest income	$	72,088		$	69,315		$	70,431		$	68,803		$	64,809		$	141,403		$	127,490

		Average earning assets	$	8,377,361		$	8,241,035		$	8,241,190		$	8,183,196		$	7,999,044		$	8,309,575		$	7,903,382

		Net interest margin (GAAP)		2.97	%		2.95	%		2.95	%		2.90	%		2.82	%		2.97	%		2.82	%
		Net interest margin (TEY) (non-GAAP)		3.46	%		3.42	%		3.43	%		3.37	%		3.27	%		3.45	%		3.26	%
		Adjusted net interest margin (TEY) (non-GAAP)		3.45	%		3.41	%		3.40	%		3.34	%		3.26	%		3.44	%		3.24	%

		EFFICIENCY RATIO (5)

		Noninterest expense (GAAP)	$	49,583		$	46,539		$	53,499		$	53,565		$	49,888		$	96,122		$	100,578

		Net interest income (GAAP)	$	62,082		$	59,986		$	61,204		$	59,722		$	56,163		$	122,068		$	110,862
		Noninterest income (GAAP)		22,115			16,892			30,625			27,157			30,889			39,007			57,747
		Total income	$	84,197		$	76,878		$	91,829		$	86,879		$	87,052		$	161,075		$	168,609

		Efficiency ratio (noninterest expense/total income) (non-GAAP)		58.89	%		60.54	%		58.26	%		61.65	%		57.31	%		59.68	%		59.65	%
		Adjusted efficiency ratio (core noninterest expense/core total income) (non-GAAP)		58.54	%		60.38	%		56.25	%		58.45	%		57.19	%		59.42	%		59.52	%


(1	)	Adjusted net income, adjusted earnings per common share, adjusted return on average assets and average equity are non-GAAP financial measures. The Company’s management believes that these measurements are important to investors as they exclude non-core or non-recurring income and expense items, therefore, they provide a more realistic run-rate for future periods. In compliance with applicable rules of the SEC, these non-GAAP measures are reconciled to net income, which is the most directly comparable GAAP financial measure.
(2	)	Non-core or non-recurring items (post-tax) are calculated using an estimated effective federal tax rate of 21% with the exception of goodwill impairment which is not deductible for tax.
(3	)	Interest earned and yields on nontaxable securities and loans are determined on a tax equivalent basis using a 21% effective federal tax rate.
(4	)	Net interest margin (TEY) is a non-GAAP financial measure. The Company’s management utilizes this measurement to take into account the tax benefit associated with certain loans and securities. It is also standard industry practice to measure net interest margin using tax-equivalent measures. In compliance with applicable rules of the SEC, this non-GAAP measure is reconciled to net interest income, which is the most directly comparable GAAP financial measure. In addition, the Company calculates net interest margin without the impact of acquisition accounting net accretion as this can fluctuate and it’s difficult to provide a more realistic run-rate for future periods.
(5	)	Efficiency ratio is a non-GAAP measure. The Company’s management utilizes this ratio to compare to industry peers. The ratio is used to calculate overhead as a percentage of revenue. In compliance with the applicable rules of the SEC, this non-GAAP measure is reconciled to noninterest expense, net interest income and noninterest income, which are the most directly comparable GAAP financial measures.

The MIL Network –

July 24, 2025

MIL-OSI: QCR Holdings, Inc. Announces Net Income of $29.0 Million for the Second Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

Second Quarter 2025 Highlights

Net income of $29.0 million, or $1.71 per diluted share
Adjusted net income¹of $29.4 million, or $1.73 per diluted share
NIM TEY¹expanded four basis points to 3.46%
Adjusted ROAA¹of 1.29% annualized
Capital markets revenue growth of 51% on a linked-quarter basis
Nonperforming assets declined $5.5 million, or 11%
Tangible book value per share¹grew $1.64, or 13% annualized
TCE/TA ratio¹improved 22 basis points to 9.92%

MOLINE, Ill., July 23, 2025 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) (the “Company”) today announced quarterly net income of $29.0 million and diluted earnings per share (“EPS”) of $1.71 for the second quarter of 2025, compared to net income of $25.8 million and diluted EPS of $1.52 for the first quarter of 2025.

Adjusted net income¹ and adjusted diluted EPS¹ for the second quarter of 2025 were $29.4 million and $1.73, respectively, for the first quarter of 2025 compared to $26.0 million and $1.53, respectively, for the first quarter of 2025 and $29.3 million, and $1.73 respectively for the second quarter of 2024.

	For the Quarter Ended
	June 30,		March 31,		June 30,
$ in millions (except per share data)	2025		2025		2024
Net Income	$	29.0	$	25.8	$	29.1
Diluted EPS	$	1.71	$	1.52	$	1.72
Adjusted Net Income¹	$	29.4	$	26.0	$	29.3
Adjusted Diluted EPS¹	$	1.73	$	1.53	$	1.73