NewzIntel.com

Category: Natural Disasters

  • MIL-OSI USA: Padilla Condemns Republicans’ Rescission of Billions in Public Broadcast and Foreign Aid Funding

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Condemns Republicans’ Rescission of Billions in Public Broadcast and Foreign Aid Funding

    WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) issued the following statement slamming Republicans’ narrow passage of President Trump’s $9 billion rescissions package to revoke Congressionally appropriated funding for public broadcasting and foreign aid:
    “On the heels of giving away $4.5 trillion in tax breaks to corporations and billionaires, Donald Trump and Republicans in Congress are now claiming we can’t afford essential public broadcasting services and important foreign aid programs. 
    “Republicans’ cuts to public broadcasting will put lives at risk by undermining the last line for lifesaving emergency alerts in so many communities across the country, just days after the devastating floods in Texas. At the same time, their cuts to foreign aid will end low-cost, high-impact programs while undermining U.S. national security, creating a vacuum in global leadership that China and Russia are more than happy to fill.  
    “All these funds were negotiated and approved in a good-faith and bipartisan manner. By breaking those commitments, Republicans have made it exponentially harder for themselves to seek and secure the support they’ll need from Democrats to fund the government later this year.”

    MIL OSI USA News –

  • MIL-OSI: ILUS Provides Update on Disclosure Status and OTC Markets Listing

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, July 17, 2025 (GLOBE NEWSWIRE) — Ilustrato Pictures International Inc. (OTC: ILUS) (“ILUS” or the “Company”), a mergers and acquisitions company focused on acquiring and scaling businesses in the public safety and industrial sectors, today provided an update regarding the status of its financial disclosures and listing position on the OTC Markets.

    As previously communicated to shareholders, ILUS consolidates multiple subsidiaries, including publicly traded companies, within its financial reporting. As a result, any downstream delays, such as audit transitions, accounting changes, or filing delays at the subsidiary level, have a direct impact on ILUS’s ability to complete its consolidations and audits in a timely manner.

    Over the past two years, ILUS has managed a significant number of moving parts, including new acquisitions, divestitures, a complex acquisition unwind, and the mid-period sale of its subsidiary Quality Industrial to a Nasdaq-listed company. These events, combined with a change in auditors and the need to address legacy SEC comments on historical filings, have unfortunately delayed the ILUS’s 2024 audited financial statements.

    ILUS is actively working with its audit team and is in discussions with the SEC to cure prior comments through its upcoming financial disclosures. Based on professional guidance, ILUS has been advised not to file unaudited interim financials, but instead to file fully audited financials when complete. While this is the correct regulatory approach, it creates a short-term conflict with OTC Markets rules, which prohibit companies from having multiple overdue filings. As a result, ILUS may be temporarily moved to the OTC Expert Market until the updated filings are submitted.

    ILUS is targeting completion of its filings before the beginning of Q4 and reiterates that any such OTC downgrade would be temporary and procedural.

    Management is evaluating the potential filing of a Form S-1 registration statement with the SEC, either shortly after or concurrently with those filings. ILUS may also submit a listing application to Nasdaq, given its view that remaining on the OTC Markets provides limited value to shareholders and has become a constraint on long-term growth.

    “Disappointingly, we found ourselves in a perfect storm,” said CEO Nicolas Link. “We were navigating multiple acquisitions, some of which came with inherited accounting issues, while also addressing our own outstanding SEC comments. During this period, we changed auditors, unwound a prior acquisition that required reinstated financials, and completed the sale of a subsidiary mid-period, forcing us to halt consolidation partway through the year. All of this created a highly complex and resource-intensive audit environment. We couldn’t begin the parent-level audit work until the downstream issues were resolved, which only occurred a few months ago. Now, the team is fully focused on completing the process, and it’s our top priority.”

    “Filing a registration statement and pursuing a Nasdaq application is a significant task, but one we’ve successfully managed several times within the group. While it may take time to clear comments and become effective, it’s an essential step. We cannot stay on the OTC indefinitely; it offers little strategic value and imposes costs without benefit. It’s time to complete this chapter, resolve SEC matters once and for all, and give management the ability to fully execute our 2026 roadmap and unlock the value we’ve worked hard to build.”

    If necessary, ILUS will also file the appropriate forms to return to its previous OTC tier immediately following its updated filings. Regardless of the path, ILUS confirms it will not remain on the OTC Expert Market longer than necessary and intends to operate either on the main OTC tier or a national exchange as soon as possible.

    ILUS is working diligently to complete the required audits and filings and will continue to provide shareholders with updates as progress is made.

    For further information on ILUS, please see its communication channels:
    Website: https://ilus-group.com
    X: @ILUS_INTL
    YouTube: @ILUSInternational
    Email: IR@Ilus-Group.com
    Source: ILUS

    Forward-Looking Statement

    Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls, and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Website: https://ilus-group.com X: @ILUS_INTL

    The MIL Network –

  • MIL-OSI Analysis: When grief involves trauma − a social worker explains how to support survivors of the recent floods and other devastating losses

    Source: The Conversation – USA (3) – By Liza Barros-Lane, Assistant Professor of Social Work, University of Houston-Downtown

    Rain falls over a makeshift memorial for flood victims along the Guadalupe River on July 13, 2025, in Kerrville, Texas. AP Photo/Eric Gay

    The July 4, 2025, floods in Kerr County, Texas, swept away children and entire families, leaving horror in their wake. Days later, flash floods struck Ruidoso, New Mexico, killing three people, including two young children.

    These are not just devastating losses. When death is sudden, violent, or when a body is never recovered, grief gets tangled up with trauma.

    In these situations, people don’t only grieve the death. They struggle with the terror of how it happened, the unanswered questions and the shock etched into their bodies.

    I’m a social work professor, grief researcher and the founder of The Young Widowhood Project, a research initiative aimed at expanding scholarship and public understanding of premature spousal loss.

    I was widowed when I was 36. In July 2020, my husband, Brent, went missing after testing a small, flat-bottomed fishing boat called a Jon boat. His body was recovered two days later, but I never saw his remains.

    Both my personal loss and professional work have shown me how trauma changes the grieving process and what kind of support actually helps.

    To understand how trauma can complicate grief, it’s important to first understand how people typically respond to loss.

    Grief isn’t a set of stages

    Many people still think of grief through the lens of psychiatrist Dr. Elisabeth Kübler-Ross’ five stages of grief, popularized in the early 1970s: denial, anger, bargaining, depression and acceptance.

    But in fact, this model was originally designed for people facing their own deaths, not for mourners. In the absence of accessible grief research in the 1960s, it became a leading framework for understanding the grieving process – even though it wasn’t meant for that.

    Despite this misapplication, the stages model has shaped cultural expectations: namely, that grief ends once people reach the “acceptance” stage. But research doesn’t support this idea. Trying to force grief into this model can cause real harm, leaving mourners feeling they’re grieving “wrong.”

    In reality, mourning is often lifelong. Most people go through an acute period of overwhelming pain right after the loss. This is usually followed by integrated grief, where the pain softens but the loss is still part of everyday life, returning in waves.

    Although grief is unique to each person and relationship, researchers have found that mourners often strive to a) make sense of the death; b) adjust to a world without their loved one; c) form an ongoing connection with their deceased loved one in new ways; and d) figure out who they are without their loved one.

    It’s difficult and at times disorienting work, but most people find ways to carry their grief and keep living.

    Julia Mora embraces her granddaughter, Isla Meyer, during a vigil for Texas flood victims on July 11, 2025.
    AP Photo/Gerald Herbert

    When grief and trauma collide

    However, some losses carry an extra layer of pain, confusion and trauma.

    Sudden, unexpected, accidental, violent or deeply tragic deaths – like those experienced during the recent floods – can lead to what researchers call traumatic bereavement: grief that is disrupted by the traumatic nature of the death.

    People experiencing traumatic bereavement often endure a longer and more intense acute grief period. They may be haunted by disturbing images, nightmares or relentless thoughts about how their loved one died or suffered. Many wrestle with dread, spiritual disorientation and a shattered sense of safety in the world.

    Some of these deaths are also considered “ambiguous” – unclear or unconfirmed loss – such as when a body is never recovered or is too damaged to view. Without physical confirmation, mourners often feel stuck in disbelief and helplessness.

    This was true in my case. Not seeing my husband’s body left a part of me suspended between knowing and not knowing. I knew he had died but couldn’t fully believe it, no matter how much I lived with the reality of his absence. For a long time, I caught myself repeating these words every morning: “Brent is dead. Brent is dead.”

    In many cases, these reactions aren’t short term. Many people affected by traumatic loss remain overwhelmed and sometimes physically and emotionally impaired for years. Symptoms may taper over time, but they rarely disappear entirely.

    Supporting mourners

    Traumatic bereavement can feel unbearable. Many mourners struggle with intense, long-lasting reactions that can leave them feeling helpless, altered or even unrecognizable to themselves. They may appear withdrawn, forgetful or emotionally drained because their systems are overwhelmed. Coping can look messy or self-destructive, but these are often survival strategies, not conscious choices. I’ve also seen how those same struggles become more survivable when mourners don’t have to carry them alone. If you’re supporting someone through traumatic loss, here are three ways to help.

    • Make space for the horror. Listen without flinching. Acknowledge the full weight of what happened and how terrifying and unjust the loss was. This means saying things like, “This should never have happened,” or “What you went through is beyond words.” It means staying present when the mourner speaks about what haunts them. Let them know they don’t have to carry this alone. You may feel the urge to say something hopeful such as, “At least the body was recovered,” but there is no silver lining in these cases. Instead, say: “There’s nothing I can say to fix this, but I’m not going anywhere.”

    • Help them find others who can understand. Trauma can be isolating. Mourners often feel uniquely overwhelmed or confused. Support groups, peer companions and therapists trained in treating grief and trauma can offer the kind of recognition and validation that even the most devoted friend may not be able to provide.

    • Take care of yourself, too. Being present for someone in deep grief takes energy, especially if you were personally affected by the loss. Stay connected to replenishing people, practices and routines. If you don’t, you may begin to experience trauma, too. Taking care of yourself will help you remain grounded so that you can show up.

    I believe supporting someone through traumatic bereavement is one of the most meaningful things you can do. You don’t need perfect words or a plan. What sustains them won’t be advice or solutions, but your simple, powerful act of staying.

    Liza Barros-Lane does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. When grief involves trauma − a social worker explains how to support survivors of the recent floods and other devastating losses – https://theconversation.com/when-grief-involves-trauma-a-social-worker-explains-how-to-support-survivors-of-the-recent-floods-and-other-devastating-losses-260908

    MIL OSI Analysis –

  • MIL-OSI Africa: Committee on Electricity Warns Against Job Losses as a Result of Just Energy Transition Plan

    Source: APO – Report:

    .

    The Portfolio Committee on Electricity and Energy expressed its concern over potential job losses as a result of the Just Energy Transition (JET) plan when it received a briefing from Eskom on the revised plan, decoupled from the decommissioning of plants.

    The Eskom JET strategy has been decoupled from the decommissioning schedule to ensure independence from plant operations. Eskom’s plan promotes the optimal use of the existing coal fleet while rolling out clean energy capacity to ensure security of supply and energy sustainability.

    The committee engaged with the power utility on its R400 billion debt burden along with limited government support, as the fiscus cannot keep funding Eskom in the way it has in the past. Also, due to the inflated cost of electricity, the entity has declining energy sales, escalating municipal debt and less than cost-reflective tariffs.

    The committee demanded an explanation from Eskom on how it plans to secure the substantial assistance and sustained funding required for the entire JET, including the estimated R257 billion for a minimum emission standards compliance and the 14,000 km of grid expansion needed by 2034.

    Eskom said that it has a commitment to reduce emissions by 40% by 2030. Regarding minimisation of any disruption that might occur, Eskom said that the transition not only includes sustainability but also energy security and affordability.

    The power utility stated that in its communication, it has been indicating that coal is not an issue. But to manage the transition, the entity uses technology to make it safe to reduce emissions. The committee heard that Eskom will not shut down coal-powered stations for the sake of shutdown and disrupt the economy but, where it is possible, coal will be used as optimally and efficiently as possible within the ambit of the commitments made.

    Regarding the strategies that are being implemented to mitigate the risks of funding delays and the impact of the US withdrawal from the International Partners Group, Eskom said the dynamics and changes from the US have changed how the power entity traditionally views funding. However, Eskom believes that change comes with opportunity.

    Eskom told the committee that the entity also engaged with the World Bank to source funding from various international funders. The committee heard that funders are aware of their five-year project from the discussions already undertaken.

    Regarding job losses due to the closure of the coal power stations and the JET plan, Eskom told the committee that it wants to grow the economy on all fronts, while continuously using all the available resources to meet emission targets. The committee noted the difficulties arising from the decommissioning of power stations, which include job losses and economic and social impacts.

    The committee expressed its appreciation to Eskom for stabilising the grid and avoiding loadshedding for a sustained period. The committee told Eskom that nuclear energy is probably the safest and cleanest energy source available. Members of the committee advised Eskom about the possibility of considering the new technology of using nuclear waste stored at fire pits for generating electricity.

    – on behalf of Republic of South Africa: The Parliament.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Striking images highlight impact of public interruption to military training

    Source: United Kingdom – Government Statements

    News story

    Striking images highlight impact of public interruption to military training

    The new campaign turns the table on the issue of public interruptions to military training exercises

    Soldiers take over a hair salon in a new safety campaign. MOD Crown Copyright.

    Soldiers sprinting through a salon, abseiling into gyms and crawling through offices feature in a striking new campaign by the Ministry of Defence, turning the tables on the issue of public interruptions to military training exercises.  

    The new photo campaign features thought-provoking images of soldiers unexpectedly interrupting civilians at work, highlighting the disruption this would cause.  

    Aldershot was chosen for the campaign following continued disruptions to training exercises by members of the public straying onto the training area. These incursions force critical military training exercises to be paused or even cancelled, impacting how our personnel can be prepared for potential deployments. 

    While some areas of the MOD estate are accessible to the public at certain times, it is primarily an area for essential military training. It is vital that our Armed Forces can carry out training exercises uninterrupted, now more than ever after the government announced a move to ‘warfighting readiness’ in the recently published Strategic Defence Review.  

    The photo series is part of the MOD’s Respect the Range campaign to warn of the potential dangers of accessing military land when and where not permitted. 

    An office is interrupted by training soldiers in the campaign. MOD Crown Copyright.

    Lt Col Jens Gronn, Defence Training Estate Regional Commander for the South East, said: 

    Military training areas are workplaces for our Armed Forces where they develop the vital skills they need to keep our nation safe. As the UK moves towards enhanced warfighting readiness, it’s more important than ever that training exercises can proceed without disruption.  We welcome responsible public access but ask visitors to respect this critical training and steer clear of any military activity for everyone’s safety.

    Members of the public can access military land, but only when and where permitted to do so, and are asked to follow these guidelines:  

    • If you come across military training, stay at least 100m away and never touch military equipment or kit.  

    • Risks to the public include pyrotechnics and ammunition, fast-moving military vehicles with limited visibility, deep water with hidden dangers and legacy unexploded ordnance.  

    • Observe all signs and information and always conform to instructions from MOD personnel.  

    • Be aware that training can be happening at all times of the day and night; just because you can’t see it, doesn’t mean it’s not happening  

    • Keep dogs under close control, always in sight and pick up after them.  

    • Never touch any military debris and report it to the Ops room on 01429 483405 for safe removal.  

    • Do not light fires or use BBQs, and dispose of cigarettes and litter responsibly.  

    • If you encounter a wildfire don’t attempt to put it out yourself – call 999 and ask for the fire and rescue service. 

    For further information visit: https://www.gov.uk/guidance/safe-access  

    The campaign shows a gym class interrupted by training soldiers. MOD Crown Copyright.

    This year’s hot weather has increased the risk of wildfires on the MOD estate. These can also interrupt military training and pose a risk to Armed Forces personnel and the public. The MOD is working closely with Hampshire and Isle of Wight Fire and Rescue Service and asking the public to help support critical military training by acting responsibly to reduce the risk of wildfires on the MOD estate in the South East.  

    A spokesperson from Hampshire & Isle of Wight Fire and Rescue Service said:  

    It is important that we all work together to help prevent fires, keep our communities safe and to protect our countryside. To help prevent wildfires this summer we’d ask the public not to light fires or use BBQs, and to dispose of cigarettes and litter responsibly.

    If you encounter a wildfire don’t attempt to put it out yourself – call 999 and ask for the fire and rescue service.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Gaza war: UN officials warn of unspeakable conditions as children bear the brunt

    Source: United Nations 2

    Tom Fletcher, the UN Emergency Relief Coordinator, said there was no “vocabulary” left to adequately describe conditions on the ground.

    “Food is running out. Those seeking it risk being shot. People are dying trying to feed their families. Field hospitals receive dead bodies, and medical workers hear stories firsthand from the injured – day after day after day,” he said.

    Starvation rates among children reached their highest levels in June, with more than 5,800 girls and boys diagnosed as acutely malnourished.

    “Last week, amid this hunger crisis, children and women were killed in a strike while waiting for the food supplements to keep them alive.”

    UN Emergency Relief Coordinator Tom Fletcher briefs the Security Council

    A classroom full of children, lost every day

    UNICEF’s Executive Director Catherine Russell told ambassadors that an average of 28 children are killed in Gaza every day – “the equivalent of an entire classroom.”

    Over the past 21 months, more than 17,000 children have been killed and 33,000 injured across Gaza.

    Many of those children, she said, were struck “as they line up for lifesaving humanitarian aid – further proof that there is no safe place for civilians anywhere in Gaza.”

    “Children are not political actors. They do not start conflicts, and they are powerless to stop them. But they suffer greatly, and they wonder why the world has failed them,” she added.

    “And make no mistake, we have failed them.”

    Critical infrastructure collapse

    Gaza’s health system “is shattered,” Mr. Fletcher reported – only 17 of 36 hospitals and 63 of 170 primary health centres are even partially functioning; shortages mean up to five babies share one incubator.

    Seventy per cent of essential medicines are out of stock, half of all medical equipment is damaged, pregnant women are giving birth without care, women and girls manage their periods without basic supplies.

    Meanwhile, water production capacity has plummeted leaving the entire enclave (95 per cent) facing water insecurity.

    “With clean water increasingly difficult to access, children have little choice but to drink contaminated water,” Ms. Russell said, noting that this is increasing the risk of disease outbreaks.

    UNICEF Executive Director Catherine Russell briefs the Security Council

    Aid impeded, fuel at trickle levels

    Mr. Fletcher further described the scale of challenges to moving something as simple as a bag of flour into Gaza.

    He noted multiple layers of approvals that Israel requires, scanning, re‑loading, multiple handoffs, damaged roads, delays at holding points, insecurity and desperate civilians grabbing supplies off trucks.

    Last week – after almost 130 days – some fuel entered Gaza, as Israeli authorities agreed to allow two trucks in per day, five days a week. However, petrol – fuel for ambulances and other critical services – has not been permitted.

    Between 19 May and 14 July, just 1,633 aid trucks – about 62 per cent of loads submitted for clearance – entered Gaza, far below the average of 630 daily truckloads moved during the previous ceasefire, Mr. Fletcher said.

    Appeals to Israel, Hamas – and the Council

    Both officials pressed for immediate, safe, sustained, demilitarised humanitarian access through all available crossings, consistent fuel flows, protection of civilians at distribution points, and restoration of the UN‑led aid pipeline that briefly functioned during earlier pauses in fighting.

    They also reiterated the UN’s call for the immediate and unconditional release of all hostages held in Gaza and called on all parties – including Hamas and other armed groups – to respect international humanitarian law.

    Mr. Fletcher asked the Security Council to assess whether Israel, as the occupying power, is meeting its obligations to ensure food and medical supplies reach civilians.

    “We hold all parties to the standards of international law in this conflict. We don’t have to choose – and in fact, we must not choose – between demanding the end to the starvation of civilians in Gaza and demanding the unconditional release of all the hostages,” he said.

    “We must reject antisemitism – we must fight it with every fibre of our DNA. But we must also hold Israel to the same principles and laws as all other States.”

    MIL OSI United Nations News –

  • MIL-OSI USA: NIST’s Alex Maranghides Receives Service to America Medal

    Source: US Government research organizations

    Alexander Maranghides examines the charred remains of a window frame after an experiment. Data from this series of tests was used to support NIST’s Hazard Mitigation Methodology.
     

    Credit: NIST

    Alexander Maranghides of the National Institute of Standards and Technology (NIST) was named a 2025 Samuel J. Heyman Service to America Medal honoree for his groundbreaking research on protecting people and buildings from wildfires. The award recognizes Maranghides for 25 years of work investigating devastating wildfires in the United States and creating actionable guidelines on how to save lives and property in future fires.

    The medal is awarded by the Partnership for Public Service, a nonprofit organization that recognizes federal employees for exemplary work in making America “better, safer, and stronger.” These prestigious awards are commonly known as “Sammies” and are widely considered to be the public service equivalent of the Oscars. Only around 30 honorees are selected each year out of two million federal employees.

    “For more than two decades, Alex has demonstrated an unmatched ability to identify the most important lessons from wildfires,” said Joannie Chin, director of NIST’s Engineering Laboratory. “He then uses a variety of tools to convey these lessons to state and local officials in ways that they can understand the problem and develop solutions tailored to protect their communities.”

    NIST fire protection engineer Alex Maranghides with his Service to America medal. 

    Credit: Courtesy of A. Maranghides

    Many important questions emerge after a wildfire destroys a community. Why did one house survive unscathed while its neighbors burned to the ground? Did emergency warnings reach people in time for them to evacuate? What caused the fire to spread? Answering each of these questions could save lives in the next wildfire, but finding those answers is a serious undertaking. Maranghides’ most recent investigation, the 2018 Camp Fire in California, involved interviewing hundreds of firefighters, creating detailed minute-to-minute maps of the disaster, and running full-scale laboratory experiments. The final report is more than 1,000 pages long.

    But Maranghides and his collaborators went further than simply describing what happened; they took the lessons they learned to people who need to hear them, condensing decades of research into practical advice. Community outreach was a critical component of the team’s two biggest projects: Hazard Mitigation Methodology (HMM) and Evacuation and Sheltering Considerations — Assessment, Planning, and Execution (ESCAPE). “Those two programs are the most important work I’ve done over my career,” explained Maranghides.

    HMM contains clear guidance and instructions for how to prevent a wildfire from spreading. It includes advice such as how to prevent embers from getting in your attic and how far a woodpile should be kept from other houses. ESCAPE is a practical guide for how to prepare for wildfire sheltering and evacuation. It describes how emergency planners can prepare lifesaving decisions ahead of time and take simple steps to prepare refuge areas as a last resort if evacuation becomes impossible.

    Both programs are beginning to be implemented in communities with a high risk of fire. As wildfires increase in frequency and severity, Maranghides’ research and outreach will save lives.

    This research is part of NIST’s longstanding effort to understand and prepare communities for natural hazards such as hurricanes, earthquakes and tornadoes. NIST researchers Marc Levitan and Long Phan received a Sammie award last year for helping to create the first building codes for tornadoes. As a leader in researching natural hazards, NIST helps ensure a more resilient nation.

    Samuel J. Heyman Service to America honorees are chosen by a selection committee composed of leaders from government, business, charitable organizations, academia, entertainment and media. For further information, visit the Service to America website.

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Becca Balint to Chair Progressive Caucus Task Force to End Corporate Greed

    Source: United States House of Representatives – Congresswoman Becca Balint (VT-AL)

    Rep. Becca Balint to Chair Progressive Caucus Task Force to End Corporate Greed

    “Corporate greed is at the root of so many of the struggles working people face. It’s time we take back power over our rigged economy and fight back against the greed that makes everything harder for the rest of us.”

    Washington, July 16, 2025

    Today, Rep. Becca Balint (VT-AL) launched a Progressive Caucus Task Force to end corporate greed. Rep. Balint’s Task Force is one of four that will be focused on advancing a slate of policy proposals to set a vision for the Democratic agenda that puts the needs of working people first. 

    “I came to Congress to unrig a system that makes it so hard for so many Americans to get a fair shot,” said Rep. Becca Balint. “And today, I’m fired up to launch the Ending Corporate Greed Task Force alongside my colleagues to do the real work necessary to build an America that gives people a real chance at an easier life. Corporate greed is at the root of so many of the struggles working people face. It’s time we take back power over our rigged economy and fight back against the greed that makes everything harder for the rest of us. Because we have a vision for a reality where we can all afford to make rent, have affordable health care, get paid fair wages, and get an education without crippling debt.”

    The four Task Forces—focused on lowering costs, ending corporate greed, fighting corruption, and securing better pay and benefits—are part of a broader effort by the Progressive Caucus to define a Democratic governing agenda that is clear, popular, easy to understand, and quickly delivers material benefits to working people. The other task forces launched today by the Caucus will be led by the following Members: 

    • Rep. Omar, Promoting Peace & Security
    • Rep. Min, Fighting Corruption
    • Rep. Johnson, Fighting Corruption (Vice Chair)
    • Rep. Ansari, Lowering Costs
    • Rep. Randall, Better Pay and Benefits

    Watch her remarks on the announcement here. 

    MIL OSI USA News –

  • MIL-OSI: Champion Safe Company Accelerates Market Growth with Strategic Dealer Expansion in Colorado

    Source: GlobeNewswire (MIL-OSI)

    New Leadership at Champion Safe, a Division of American Rebel Holdings, Inc. (NASDAQ: AREB), Crystallizes Strategic Vision for Market Share Growth Across Patriotic-Branded Divisions

    PROVO, UT, July 17, 2025 (GLOBE NEWSWIRE) — Champion Safe Company (www.championsafe.com), a leading manufacturer of high-security safes and proud subsidiary of American Rebel Holdings, Inc. (NASDAQ: AREB), America’s Patriotic Brand, proudly announces its newest dealer partnership with Seaworth Safe Sales, a trusted and respected retailer serving Colorado’s Front Range for decades.

    The move marks a powerful expansion into the Rocky Mountain market, one of the fastest-growing regions for premium safe demand driven by outdoor lifestyles, responsible firearm ownership, and regulated cannabis storage. Seaworth brings deep regional expertise and customer trust, making them an ideal partner for Champion’s next growth chapter.

    “The Seaworth partnership is a strong validation of our brand momentum,” said Tom Mihalek, CEO of Champion Safe Company. “A six-figure, two-truckload opening order isn’t just a purchase—it’s a commitment to what Champion now stands for: precision, performance, and market readiness. The Seaworth deal isn’t just another dealer activation—it’s a strategic signal that leading dealers like Seaworth believe in what we’re building. And we’re ready to continue to earn that trust every day.”

    Since Mihalek took the reins in early 2024, Champion has focused intensely on product optimization and SKU rationalization, dialing in the safes customers actually want and cutting the noise. Supported by improved internal analytics, enhanced dealer feedback loops, and refined regional data, Champion is now delivering smarter product mixes tailored to each market segment, customer profile and consumer demand—streamlining inventory and improving sell-through rates.

    Seaworth is the latest to tap into that momentum, joining a growing roster of respected dealers embracing Champion’s reengineered path forward.

    A little over one year into Tom Mihalek’s leadership the disciplined approach is paying off: new dealer activations are rising, existing dealers are increasing their orders, and Champion is regaining ground as a leader in American-made secure storage.

    Champion still focuses on quality but American made craftsmanship as All Champion safe models are made from 100% American-made, high-strength steel and equally as important We build all of our own safes. No China-Build imports Lifetime warranty on everything we build.

    “We’re proud to have Seaworth Safe Sales on board,” said Jon Minder, Vice President of Sales & Marketing at Champion Safe. “Their decision to partner with us reinforces the value of our recent product enhancements, dealer-first approach, and unwavering commitment to American craftsmanship—qualities today’s customers truly demand.”

    Champion Safe Company is well-positioned to grab market share and drive revenue growth, supported by better tools, better information, and better products. As American Rebel Holdings continues its expansion across safes, apparel, and beverages, the mission remains the same: help Americans protect what they value most—with gear they can trust.

    Contact: ir@americanrebel.com

    About Champion Safe Company

    Champion Safe Company has been at the forefront of safe manufacturing for over 25 years, offering a range of high-quality safes designed for ultimate security and fire protection. With a commitment to craftsmanship and innovation, Champion Safes are trusted by homeowners, gun owners, and businesses across the nation. To learn more, visit: championsafe.com

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) designs, manufactures, and markets branded safes, personal protection products, apparel, and patriotic beverages. The Company continues to evolve as a multi-industry lifestyle brand aligned with American values. Learn more at americanrebel.com and americanrebelbeer.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of dealer expansion, actual revenues for fiscal 2025, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    The MIL Network –

  • MIL-OSI Security: Kansas man Indicted on Drug Trafficking and Firearms Charges

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

    KANSAS CITY, KAN.– A federal grand jury in Kansas City, Kansas, returned an indictment charging a Kansas man on drug trafficking and illegal firearms offenses.

    According to court documents, Marquis V. Bridgeman, 26, of Kansas City, Kansas, is charged with two counts of felon in possession of a firearm, one count of possession of a machinegun, one count of possession with intent to distribute 40 grams or more of fentanyl, one count of possession with intent to distribute cocaine, and one count of possession of a firearm in furtherance of a drug trafficking crime. 

    The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) and the Kansas Highway Patrol are investigating the case.

    Assistant U.S. Attorney David Zabel is prosecuting the case.

    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).

    OTHER INDICTMENTS

    Jaylen Stallworth, 24, of Wylie, Texas, was indicted on one count of possession of a firearm by a convicted felon. The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) is investigating the case. Assistant U.S. Attorney Jabari Wamble is prosecuting the case.
     

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

    MIL Security OSI –

  • MIL-OSI: Private Bancorp of America, Inc. Announces Strong Net Income and Earnings Per Share for Second Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

    • Net income for the second quarter of 2025 was $10.4 million, compared to $10.6 million in the prior quarter and $7.8 million in the second quarter of 2024. Net income increased 33.5% year over year
    • Net income for the second quarter of 2025 represents a return on average assets of 1.69% and a return on average tangible common equity of 17.44%
    • Diluted earnings per share for the second quarter of 2025 was $1.77, compared to $1.80 in the prior quarter and $1.35 in the second quarter of 2024
    • Core deposits were $2.07 billion as of June 30, 2025, an increase of $22.0 million or 1.1% from March 31, 2025. Core deposits increased $327.6 million or 18.8% year over year. Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million or 1.3% from March 31, 2025, which included a reduction in brokered deposits of $51.2 million. Total deposits increased 8.1% year over year
    • Total cost of deposits was 2.08% for the second quarter of 2025, a decrease from 2.22% in the prior quarter and 2.67% in the second quarter of 2024, an improvement of 6.4% quarter over quarter and 22.3% year over year. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025. Total cost of funding sources was 2.14% for the second quarter of 2025, a decrease from 2.29% in the prior quarter and 2.78% in the second quarter of 2024
    • Loans held-for-investment (“HFI”) totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% from March 31, 2025. Loans HFI increased 5.1% year over year
    • Net interest margin was 4.94% for the second quarter of 2025, compared to 4.61% in the prior quarter and 4.48% in the second quarter of 2024
    • Provision for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million for the prior quarter and $2.1 million for the second quarter of 2024. The allowance for loan losses was 1.35% of loans HFI as of June 30, 2025 compared to 1.27% at March 31, 2025
    • As of June 30, 2025, criticized loans totaled $58.2 million, or 2.79% of total loans, up from $40.8 million, or 1.96% of total loans, in the prior quarter
    • Tangible book value per share was $42.20 as of June 30, 2025, an increase of $1.91 since March 31, 2025 primarily as a result of strong earnings. Tangible book value per share increased 4.7% quarter-over-quarter and 21.8% year over year.

    LA JOLLA, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the second fiscal quarter ended June 30, 2025. The Company reported net income of $10.4 million, or $1.77 per diluted share, for the second quarter of 2025, compared to $10.6 million, or $1.80 per diluted share, in the prior quarter, and $7.8 million, or $1.35 per diluted share, in the second quarter of 2024.

    Rick Sowers, President and CEO of the Company and the Bank stated, “Earnings continue to be strong as a result of improvement in our deposit base and funding costs as well as an industry leading net interest margin.  Although 2025 has been a slower year for loan growth due to economic uncertainty and what we view as unreasonable market loan pricing, we are adding new Relationships across our footprint by delivering Distinctively Different Service and providing Clients with customized Solutions that meet their individual needs. We have onboarded 8 new Relationship focused Team Members this quarter, with more in the pipeline.  We are strong believers in the Southern California market, as demonstrated by our new Santa Barbara County office in Montecito, which we anticipate opening in the third quarter.”

    Sowers added, “The Bank’s superior financial performance and industry leading service metrics continue to be recognized by industry publications and our Clients. This recognition reinforces our strategic thinking and our dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value: 

    • Top 20 Community Banks in the US for 2025 by American Banker with assets between $2B and $10B in assets and #2 in California
    • #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets in 2024
    • #1 SBA 504 Community Bank Lender in the United States
    • #10 Best U.S. Bank by Bank Director’s RankingBanking®
    • Client Net Promoter Score of 81 (World Class)
    • Bauer 5 Star Rating
    • 2025 Best 50 OTCQX

    “Management has continued to focus on providing clients with a differentiated superior banking experience while producing industry leading shareholder value creation. Client surveys validate superior service levels while financial results remain in the top tier of banks nationally. Outstanding net interest margin and superior efficiency ratios confirm both the bank’s unique client relationship strategy, calculated decision making, and the effective operating systems that have resulted from our continuous improvement focus through project management, product evaluation, and technology implementation programs. In preparation for a less certain general economic environment, we have continued to invest in people and technology. We expanded our geographic footprint into Santa Barbara County and added relationship managers throughout Southern California, and management is preparing for and evaluating a wave of newer technologies including AI and risk management tools. In addition, our Team takes pride in continuing to commit their time and the bank’s financial support for non-profits in the communities we serve, in gratitude for these organizations’ outstanding work to strengthen their communities by improving the lives of those they serve,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank.

    STATEMENT OF INCOME

    Net Interest Income

    Net interest income for the second quarter of 2025 totaled $30.1 million, an increase of $2.4 million or 8.6% from the prior quarter and an increase of $5.4 million or 22.1% from the second quarter of 2024. The increase from the prior quarter was due to a $1.7 million increase in interest income, which included $0.7 million of nonaccrual interest recognized on loans that were fully satisfied through a foreclosure, and a $0.7 million decrease in interest expense, resulting from a 19 basis point reduction in the cost of interest-bearing liabilities, primarily driven by a 14 basis point decrease in the cost of total deposits.

    Net Interest Margin

    Net interest margin for the second quarter of 2025 was 4.94%, compared to 4.61% for the prior quarter and 4.48% in the second quarter of 2024. The 33 basis point increase in net interest margin from the prior quarter was primarily due to a higher average yield on loans, which included the effect of an 11 basis point increase in net interest margin due to nonaccrual interest recognized on loans that were fully satisfied through foreclosure, and a decrease in the cost of total funding sources. The yield on interest-earning assets was 6.89% for the second quarter of 2025 compared to 6.70% for the prior quarter, and the cost of interest-bearing liabilities was 2.95% for the second quarter of 2025 compared to 3.14% in the prior quarter. The cost of total deposits was 2.08% for the second quarter of 2025 compared to 2.22% in the prior quarter. The cost of core deposits, which excludes brokered deposits, was 1.94% in the second quarter of 2025 compared to 1.99% in the prior quarter and 2.28% for the second quarter of 2024. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025.

    Provision for Credit Losses

    Provision expense for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million in the prior quarter and $2.1 million in the second quarter of 2024. The provision expense for loans HFI for the second quarter of 2025 was $1.7 million, primarily reflecting a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. This was offset by a $0.4 million reversal for unfunded commitments due to increased line of credit utilization that resulted in lower unfunded commitment balances. For more details, please refer to the “Asset Quality” section below.

    Noninterest Income

    Noninterest income was $1.7 million for the second quarter of 2025, compared to $1.6 million in the prior quarter and $1.5 million in the second quarter of 2024. U.S. Small Business Administration (“SBA”) loan sales for the second quarter of 2025 were $9.5 million with a 10.01% average trade premium resulting in a net gain on sale of $523 thousand, compared with $8.3 million with a 10.86% average trade premium resulting in a net gain on sale of $469 thousand in the prior quarter.

    Noninterest Expense

    Noninterest expense was $15.7 million for the second quarter of 2025, compared to $14.1 million in the prior quarter and $13.0 million in the second quarter of 2024. The increase in noninterest expense from the prior quarter is primarily due to higher compensation and benefits costs from continued hiring, including a team of bankers in Montecito, as well as elevated professional services expenses related to expanded loan portfolio reviews performed during the quarter as we proactively manage credit risk and the transition to a new Chief Credit Officer. The efficiency ratio was 49.27% for the second quarter of 2025 compared to 47.90% in the prior quarter and 49.46% in the second quarter of 2024. The slight increase in the efficiency ratio from the prior quarter was due to the increase in noninterest expense.

    The Company remains committed to making investments in the business, including technology, marketing, and staffing. Inflationary pressures and low unemployment continue to have an impact on rising wages as well as increased costs related to third party service providers, which we proactively monitor and manage.

    Provision for Income Tax Expense

    Provision for income tax expense was $4.4 million for the second quarter of 2025, compared to $4.4 million for the prior quarter. The effective tax rate for the second quarter of 2025 was 29.7%, compared to 29.5% in the prior quarter and 29.5% in the second quarter of 2024.

    STATEMENT OF FINANCIAL CONDITION

    As of June 30, 2025, total assets were $2.45 billion, a decrease of $28.0 million since March 31, 2025. The decrease in assets from the prior quarter was primarily due to lower cash and due from banks, partially offset by higher investment securities and loans receivable. Our total cash and due from banks decreased to $140.6 million as of June 30, 2025, a decrease of $77.9 million or 35.6% since March 31, 2025, primarily due to purchases of investment securities and a decrease in brokered deposits and borrowings. Investment securities available-for-sale (“AFS”) were $188.8 million as of June 30, 2025, an increase of $32.5 million or 20.8% since March 31, 2025, primarily as a result of new securities purchased. As of June 30, 2025, the net unrealized loss on the AFS investment securities portfolio, which is comprised mostly of US Treasury and Government Agency debt, was $9.0 million (pre-tax) compared to a loss of $10.1 million (pre-tax) as of March 31, 2025. The average duration of the Bank’s AFS portfolio is 3.9 years. The Company has no held-to-maturity securities. Loans HFI totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% since March 31, 2025, primarily due to growth in investor owned commercial real estate (“CRE”) and SBA loans, partially offset by decreased construction and commercial and industrial (“C&I”) loan balances.

    Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million since March 31, 2025. During the quarter, core deposits increased by $22.0 million, which was driven by a $19.6 million increase in interest-bearing core deposits (including balances in the IntraFi ICS and CDARS programs) and a $2.4 million increase in noninterest-bearing core deposits. The deposit mix has continued to shift due to short-term interest rates remaining elevated compared to recent years. Noninterest-bearing deposits represent 29.0% of total core deposits. Offsetting the increase to total deposits from core deposits, brokered deposits decreased by $51.2 million. Uninsured deposits, net of collateralized and fiduciary deposit accounts, represent 50.6% of total deposits as of June 30, 2025.

    As of June 30, 2025, total available liquidity was $2.1 billion or 194.5% of uninsured deposits, net of collateralized and fiduciary deposit accounts. Total available liquidity is comprised of $321 million of on-balance sheet liquidity (cash and investment securities) and $1.8 billion of unused borrowing capacity.

    Asset Quality and Allowance for Credit Losses (“ACL”)

    As of June 30, 2025, the allowance for loan losses was $28.2 million or 1.35% of loans HFI, compared to $26.4 million or 1.27% of loans HFI as of March 31, 2025. The increase in the coverage ratio from March 31, 2025 is due primarily to a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. The Company continues to have strong credit metrics and its nonperforming assets are 0.66% of total assets as of June 30, 2025 compared to 0.63% as of March 31, 2025. The reserve for unfunded commitments was $0.9 million as of June 30, 2025, compared to $1.3 million as of March 31, 2025. The decrease in the reserve for unfunded commitments was due to lower unfunded commitment balances (driven by higher credit line usage). Given the credit quality of the loan portfolio, management believes we are sufficiently reserved.

    At June 30, 2025 and March 31, 2025, there were no doubtful credits and classified assets were $36.2 million and $27.8 million, respectively. Total classified assets consisted of 26 loans as of June 30, 2025, which included 17 loans totaling $22.5 million secured by real estate with total specific reserves of $1.1 million and a weighted average LTV of 56.6%. The remaining 9 loans were $13.7 million of commercial and industrial loans, one of which was an unsecured loan on nonaccrual status with a carrying value of $1.5 million and a specific reserve of $1.0 million (the loan is recorded net of a $1.1 million partial charge off recorded in the first quarter of 2025).

    The Bank’s loan portfolio does include assets that are in the affected areas of Los Angeles devastated by wildfires. Of these loans, two relationships with loan balances totaling $34.1 million have been placed on payment deferral.  However, based on assessments performed to date, management does not believe there is a material impact to the financial statements.

    Capital Ratios (2)

    The Bank’s capital ratios were in excess of the levels established for “well capitalized” institutions and are as follows:

      June 30, 2025 (2) March 31, 2025
    CalPrivate Bank    
    Tier I leverage ratio 10.70% 10.35%
    Tier I risk-based capital ratio 12.12% 11.75%
    Total risk-based capital ratio 13.37% 13.00%
         

    (2) June 30, 2025 capital ratios are preliminary and subject to change.

    CalPrivate Bank Announces Board of Directors Changes

    During the second quarter, Thomas Wornham and Richard Smith concluded their service on the Bank’s Board of Directors. The Bank extends its sincere gratitude to Mr. Wornham and Mr. Smith for their contributions and dedication during their tenure. Neither individual served on the Company’s Board of Directors. Mr. Smith continues his business development activities for the Bank.

    About Private Bancorp of America, Inc. (OTCQX: PBAM)

    PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and coming soon, Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior funding Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely-held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost 3x higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs,  cross border banking, and innovative, unique technologies that drive enhanced  client performance. CalPrivate Bank has been recognized by Bank Director’s RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.

    CalPrivate Bank’s website is www.calprivate.bank.

    Non-GAAP Financial Measures

    This press release contains certain non-GAAP financial measures in addition to results presented in accordance with GAAP, including efficiency ratio, pretax pre-provision net revenue, average tangible common equity and return on average tangible common equity. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s results of operations and financial condition and to enhance investors’ overall understanding of such results of operations and financial condition, to permit investors to effectively analyze financial trends of our business activities, and to enhance comparability with peers across the financial services sector. These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures prepared in accordance with GAAP and should be read in conjunction with the Company’s GAAP financial information. A reconciliation of the most comparable GAAP financial measures to non-GAAP financial measures is included in the accompanying financial tables.

    Investor Relations Contacts

    Rick Sowers
    President and Chief Executive Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (424) 303-4894

    Cory Stewart
    Executive Vice President and Chief Financial Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (206) 293-3669

    Safe Harbor Paragraph

    This communication contains expressions of expectations, both implied and explicit, that are “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we believe in good faith the assumptions and bases supporting our forward-looking statements to be reasonable, there can be no assurance that those assumptions and bases will prove accurate.

                     
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED BALANCE SHEET
    (Unaudited)
    (Dollars in thousands)
                     
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024
    Assets                
    Cash and due from banks $ 26,215     $ 34,720     $ 13,545  
    Interest-bearing deposits in other financial institutions   14,715       16,155       12,502  
    Interest-bearing deposits at Federal Reserve Bank   99,689       167,606       132,330  
    Total cash and due from banks   140,619       218,481       158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,097  
    Investment debt securities available for sale   188,821       156,346       121,725  
    Loans held for sale   8,826       2,066       –  
    Loans, net of deferred fees and costs and unaccreted discounts   2,081,063       2,078,653       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       1,953,129  
    Federal Home Loan Bank stock, at cost   10,652       9,586       9,586  
    Operating lease right of use assets   7,254       6,383       4,719  
    Premises and equipment, net   2,213       2,432       2,207  
    Servicing assets, net   1,964       1,993       2,164  
    Accrued interest receivable   8,624       8,148       7,906  
    Other assets   28,752       21,009       21,774  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,285,684  
                     
    Liabilities and Shareholders’ Equity                
    Liabilities                
    Noninterest bearing $ 601,473     $ 599,095     $ 557,055  
    Interest bearing   1,561,407       1,593,014       1,444,671  
    Total deposits   2,162,880       2,192,109       2,001,726  
    FHLB borrowings   11,000       16,000       48,000  
    Other borrowings   17,972       17,970       17,965  
    Accrued interest payable and other liabilities   16,089       21,559       16,551  
    Total liabilities   2,207,941       2,247,638       2,084,242  
                     
    Shareholders’ equity                
    Common stock   76,398       76,156       74,636  
    Additional paid-in capital   4,009       3,712       3,717  
    Retained earnings   172,849       162,462       132,179  
    Accumulated other comprehensive (loss) income, net   (6,317 )     (7,095 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,285,684  
                           
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (Dollars in thousands, except per share amounts)
               
      For the three months ended     Year to Date  
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024
    Interest Income                            
    Loans $ 38,004     $ 36,565     $ 35,538     $ 74,569     $ 68,544  
    Investment securities   1,800       1,505       1,090       3,305       2,069  
    Deposits in other financial institutions   2,184       2,198       2,034       4,382       3,833  
    Total interest income   41,988       40,268       38,662       82,256       74,446  
                                 
    Interest Expense                            
    Deposits   11,376       11,899       13,040       23,275       25,170  
    Borrowings   499       637       952       1,136       1,838  
    Total interest expense   11,875       12,536       13,992       24,411       27,008  
                                 
    Net interest income   30,113       27,732       24,670       57,845       47,438  
    Provision for credit losses   1,293       299       2,136       1,592       2,369  
    Net interest income after provision for credit losses   28,820       27,433       22,534       56,253       45,069  
                                 
    Noninterest income:                            
    Service charges on deposit accounts   591       557       430       1,148       818  
    Net gain on sale of loans   523       469       661       992       1,342  
    Other noninterest income   616       587       447       1,203       804  
    Total noninterest income   1,730       1,613       1,538       3,343       2,964  
                                 
    Noninterest expense:                            
    Compensation and employee benefits   10,319       9,748       8,836       20,067       17,697  
    Occupancy and equipment   840       844       822       1,684       1,592  
    Data processing   1,396       1,326       1,183       2,722       2,241  
    Professional services   939       508       424       1,447       912  
    Other expenses   2,195       1,629       1,697       3,824       3,303  
    Total noninterest expense   15,689       14,055       12,962       29,744       25,745  
    Income before provision for income taxes   14,861       14,991       11,110       29,852       22,288  
    Provision for income taxes   4,412       4,429       3,283       8,841       6,577  
    Net income $ 10,449     $ 10,562     $ 7,827     $ 21,011     $ 15,711  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 7,761     $ 20,834     $ 15,595  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.36     $ 3.63     $ 2.74  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.35     $ 3.57     $ 2.71  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,702,938       5,744,836       5,688,135  
    Diluted average shares outstanding   5,837,537       5,826,229       5,762,616       5,830,897       5,755,250  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
                                                                           
      For the three months ended 
      Jun 30, 2025    Mar 31, 2025    Jun 30, 2024 
      Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate     
    Interest-Earnings Assets                                                                      
    Deposits in other financial institutions $ 191,701     $ 2,184       4.57 %   $ 202,907     $ 2,198       4.39 %   $ 152,563     $ 2,034       5.36 %
    Investment securities   182,772       1,800       3.94 %     157,747       1,505       3.82 %     123,876       1,090       3.52 %
    Loans, including LHFS   2,069,415       38,004       7.37 %     2,078,588       36,565       7.13 %     1,939,746       35,538       7.37 %
    Total interest-earning assets   2,443,888       41,988       6.89 %     2,439,242       40,268       6.70 %     2,216,185       38,662       7.02 %
    Noninterest-earning assets   43,336                       28,536                       25,675                  
    Total Assets $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Interest-Bearing Liabilities                                                                      
    Interest bearing DDA, excluding brokered   242,929       814       1.34 %     244,301       970       1.61 %     130,361       463       1.43 %
    Savings & MMA, excluding brokered   1,002,820       7,130       2.85 %     955,259       6,830       2.90 %     845,856       7,354       3.50 %
    Time deposits, excluding brokered   218,900       2,097       3.84 %     196,375       1,956       4.04 %     164,714       1,690       4.13 %
    Total deposits, excluding brokered   1,464,649       10,041       2.75 %     1,395,935       9,756       2.83 %     1,140,931       9,507       3.35 %
    Total brokered deposits   120,935       1,335       4.43 %     183,059       2,143       4.75 %     284,290       3,533       5.00 %
    Total Interest-Bearing Deposits   1,585,584       11,376       2.88 %     1,578,994       11,899       3.06 %     1,425,221       13,040       3.68 %
                                                                           
    FHLB advances   12,868       139       4.33 %     24,122       272       4.57 %     47,373       581       4.93 %
    Other borrowings   17,973       360       8.03 %     17,981       365       8.23 %     17,966       371       8.31 %
    Total Interest-Bearing Liabilities   1,616,425       11,875       2.95 %     1,621,097       12,536       3.14 %     1,490,560       13,992       3.78 %
                                                                           
    Noninterest-bearing deposits   609,760                       594,408                       535,878                  
    Total Funding Sources   2,226,185       11,875       2.14 %     2,215,505       12,536       2.29 %     2,026,438       13,992       2.78 %
                                                                           
    Noninterest-bearing liabilities   18,804                       21,542                       16,334                  
    Shareholders’ equity   242,235                       230,731                       199,088                  
                                                                           
    Total Liabilities and Shareholders’ Equity $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Net interest income/spread         $ 30,113       4.75 %           $ 27,732       4.41 %           $ 24,670       4.24 %
    Net interest margin                   4.94 %                     4.61 %                     4.48 %
                                                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
         
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
      Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		  
    Interest-Earnings Assets:                                  
    Deposits in other financial institutions $ 197,273     $ 4,382       4.48 %   $ 144,037     $ 3,833       5.35 %
    Investment securities   170,328       3,305       3.88 %     121,783       2,069       3.40 %
    Loans   2,073,976       74,569       7.25 %     1,904,028       68,544       7.24 %
    Total interest-earning assets   2,441,577       82,256       6.79 %     2,169,848       74,446       6.90 %
    Noninterest-earning assets   35,977                   25,571              
    Total Assets $ 2,477,554                 $ 2,195,419              
                                       
    Interest-Bearing Liabilities                                  
    Interest bearing DDA, excluding brokered   243,611       1,784       1.48 %     120,100       904       1.51 %
    Savings & MMA, excluding brokered   979,170       13,960       2.88 %     805,813       13,775       3.44 %
    Time deposits, excluding brokered   207,699       4,053       3.94 %     160,208       3,273       4.11 %
    Total deposits, excluding brokered   1,430,480       19,797       2.79 %     1,086,121       17,952       3.32 %
    Total brokered deposits   151,825       3,478       4.62 %     286,088       7,218       5.07 %
    Total Interest-Bearing Deposits   1,582,305       23,275       2.97 %     1,372,209       25,170       3.69 %
                                       
    FHLB advances   18,464       411       4.49 %     48,653       1,195       4.94 %
    Other borrowings   17,977       725       8.13 %     17,964       643       7.20 %
    Total Interest-Bearing Liabilities   1,618,746       24,411       3.04 %     1,438,826       27,008       3.77 %
                                       
    Noninterest-bearing deposits   602,126                   544,709              
    Total Funding Sources   2,220,872       24,411       2.22 %     1,983,535       27,008       2.74 %
                                       
    Noninterest-bearing liabilities   20,165                   17,176              
    Shareholders’ equity   236,517                   194,708              
                                       
    Total Liabilities and Shareholders’ Equity $ 2,477,554                 $ 2,195,419              
                                       
    Net interest income/spread       $ 57,845       4.57 %         $ 47,438       4.16 %
    Net interest margin               4.78 %                 4.40 %
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Balance Sheets
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                                 
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Assets                            
    Cash and due from banks $ 140,619     $ 218,481     $ 163,876     $ 207,174     $ 158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,189       4,124       4,097  
    Investment securities   188,821       156,346       145,238       141,100       121,725  
    Loans held for sale   8,826       2,066       3,008       2,040       –  
    Total loans held-for-investment   2,081,063       2,078,653       2,085,149       2,012,457       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (27,267 )     (26,594 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       2,057,882       1,985,863       1,953,129  
    Operating lease right of use assets   7,254       6,383       6,819       4,344       4,719  
    Premises and equipment, net   2,213       2,432       2,335       2,345       2,207  
    Other assets and interest receivable   49,992       40,736       40,664       39,383       41,430  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Liabilities and Shareholders’ Equity                            
    Liabilities                            
    Noninterest Bearing $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest Bearing   1,561,407       1,593,014       1,581,054       1,522,839       1,444,671  
    Total Deposits   2,162,880       2,192,109       2,134,459       2,107,131       2,001,726  
    Borrowings   28,972       33,970       45,969       45,967       65,965  
    Accrued interest payable and other liabilities   16,089       21,559       20,049       19,062       16,551  
    Total liabilities   2,207,941       2,247,638       2,200,477       2,172,160       2,084,242  
    Shareholders’ equity                            
    Common stock   76,398       76,156       75,377       74,688       74,636  
    Additional paid-in capital   4,009       3,712       4,393       4,271       3,717  
    Retained earnings   172,849       162,462       152,252       141,623       132,179  
    Accumulated other comprehensive (loss) income   (6,317 )     (7,095 )     (8,488 )     (6,369 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       223,534       214,213       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Book value per common share $ 42.54     $ 40.63     $ 38.76     $ 37.21     $ 35.03  
    Tangible book value per common share (1) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

     
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Statements of Income
    (Unaudited)
    (Dollars in thousands, except per share amounts)
         
      For the three months ended  
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Interest income $ 41,988     $ 40,268     $ 40,430     $ 40,018     $ 38,662  
    Interest expense   11,875       12,536       13,023       14,311       13,992  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Provision for credit losses   1,293       299       17       304       2,136  
    Net interest income after provision for credit losses   28,820       27,433       27,390       25,403       22,534  
                                 
    Service charges on deposit accounts   591       557       558       504       430  
    Net gain on sale of loans   523       469       932       587       661  
    Other noninterest income   616       587       456       343       447  
    Total noninterest income   1,730       1,613       1,946       1,434       1,538  
                                 
    Compensation and employee benefits   10,319       9,748       9,539       9,422       8,836  
    Occupancy and equipment   840       844       847       818       822  
    Data processing   1,396       1,326       1,195       1,238       1,183  
    Professional services   939       508       573       252       424  
    Other expenses   2,195       1,629       2,036       1,695       1,697  
    Total noninterest expense   15,689       14,055       14,190       13,425       12,962  
                                 
    Income before provision for income taxes   14,861       14,991       15,146       13,412       11,110  
    Income taxes   4,412       4,429       4,488       3,959       3,283  
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 10,573     $ 9,373     $ 7,761  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.85     $ 1.64     $ 1.36  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.82     $ 1.63     $ 1.35  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,716,291       5,707,723       5,702,938  
    Diluted average shares outstanding   5,837,537       5,826,229       5,813,197       5,767,401       5,762,616  
                                           
      Performance Ratios
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    ROAA   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    ROAE   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    ROATCE (1)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
    Net interest margin   4.94 %     4.61 %     4.67 %     4.44 %     4.48 %
    Net interest spread   4.75 %     4.41 %     4.44 %     4.20 %     4.24 %
    Efficiency ratio (1)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
    Noninterest expense / average assets   2.53 %     2.31 %     2.39 %     2.29 %     2.32 %

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

     
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
       
      Selected Quarterly Average Balances
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total assets $ 2,487,224     $ 2,467,778     $ 2,359,950     $ 2,328,399     $ 2,241,860  
    Earning assets $ 2,443,888     $ 2,439,242     $ 2,334,999     $ 2,303,537     $ 2,216,185  
    Total loans, including loans held for sale $ 2,069,415     $ 2,078,588     $ 2,036,178     $ 1,989,748     $ 1,939,746  
    Total deposits $ 2,195,344     $ 2,173,402     $ 2,071,050     $ 2,047,197     $ 1,961,099  
    Total shareholders’ equity $ 242,235     $ 230,731     $ 219,963     $ 208,889     $ 199,088  
                                           
      Loan Balances by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Commercial Real Estate (CRE):                            
    Investor owned $ 604,073     $ 577,512     $ 572,659     $ 560,481     $ 566,314  
    Owner occupied   223,558       228,232       223,442       221,364       216,876  
    Multifamily   160,902       163,218       162,330       175,387       177,390  
    Secured by single family   197,100       200,650       198,579       190,738       181,744  
    Land and construction   51,669       70,293       62,638       68,186       58,109  
    SBA secured by real estate   407,148       402,524       401,990       395,646       388,271  
    Total CRE   1,644,450       1,642,429       1,621,638       1,611,802       1,588,704  
    Commercial business:                            
    Commercial and industrial   404,489       417,258       441,182       383,874       378,161  
    SBA non-real estate secured   30,183       17,004       20,205       15,101       10,758  
    Total commercial business   434,672       434,262       461,387       398,975       388,919  
    Consumer   1,941       1,962       2,124       1,680       2,097  
    Total loans held for investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
                                           
      Deposits by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Noninterest-bearing DDA $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest-bearing DDA, excluding brokered   251,701       257,720       251,594       182,268       156,253  
    Savings & MMA, excluding brokered   990,798       981,491       887,740       920,219       861,508  
    Time deposits, excluding brokered   227,129       210,845       201,851       186,583       168,664  
    Total deposits, excluding brokered   2,071,101       2,049,151       1,894,590       1,873,362       1,743,480  
    Total brokered deposits   91,779       142,958       239,869       233,769       258,246  
    Total deposits $ 2,162,880     $ 2,192,109     $ 2,134,459     $ 2,107,131     $ 2,001,726  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
         
      Rollforward of Allowance for Credit Losses
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Allowance for loan losses:                            
    Beginning balance $ 26,437     $ 27,267     $ 26,594     $ 26,591     $ 24,693  
    Provision for loan losses   1,741       460       673       3       1,994  
    Net (charge-offs) recoveries   –       (1,290 )     –       –       (96 )
    Ending balance   28,178       26,437       27,267       26,594       26,591  
    Reserve for unfunded commitments   899       1,348       1,509       2,165       1,865  
    Total allowance for credit losses $ 29,077     $ 27,785     $ 28,776     $ 28,759     $ 28,456  
                                           
      Asset Quality
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total loans held-for-investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
    Allowance for loan losses $ (28,178 )   $ (26,437 )   $ (27,267 )   $ (26,594 )   $ (26,591 )
    30-89 day past due loans $ 4,842     $ 2,399     $ 1,952     $ –     $ –  
    90+ day past due loans $ 2,850     $ 13,223     $ 11,512     $ 11,512     $ 2,500  
    Nonaccrual loans $ 7,716     $ 15,565     $ 11,512     $ 11,512     $ 2,500  
    Other real estate owned (OREO) $ 8,568     $ –     $ –     $ –     $ –  
    NPAs / Total assets   0.66 %     0.63 %     0.47 %     0.48 %     0.11 %
    NPLs / Total loans held-for-investment   0.37 %     0.75 %     0.55 %     0.57 %     0.13 %
    Net quarterly charge-offs (recoveries) $ –     $ 1,290     $ –     $ –     $ 96  
    Net charge-offs (recoveries) /avg loans (annualized)   0.00 %     0.25 %     0.00 %     0.00 %     0.02 %
    Allowance for loan losses to loans HFI   1.35 %     1.27 %     1.31 %     1.32 %     1.34 %
    Allowance for loan losses to nonaccrual loans   365.19 %     169.85 %     236.86 %     231.01 %     1063.64 %
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

    The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, pretax pre-provision net revenue, average tangible common equity, and return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.

         
      GAAP to Non-GAAP Reconciliation
      (Dollars in thousands)
                                 
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Efficiency Ratio                            
    Noninterest expense $ 15,689     $ 14,055     $ 14,190     $ 13,425     $ 12,962  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Efficiency ratio (non-GAAP)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
                                 
    Pretax pre-provision net revenue                            
    Net interest income $ 30,113     $ 27,732     $ 27,407     $ 25,707     $ 24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Less: Noninterest expense   15,689       14,055       14,190       13,425       12,962  
    Pretax pre-provision net revenue (non-GAAP) $ 16,154     $ 15,290     $ 15,163     $ 13,716     $ 13,246  
                                 
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity                            
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Average assets   2,487,224       2,467,778       2,359,950       2,328,399       2,241,860  
    Average shareholders’ equity   242,235       230,731       219,963       208,889       199,088  
    Less: Average intangible assets   1,953       2,098       2,028       2,051       2,163  
    Average tangible common equity (non-GAAP)   240,282       228,633       217,935       206,838       196,925  
                                 
    Return on average assets   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    Return on average equity   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    Return on average tangible common equity (non-GAAP)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
                                 
    Tangible book value per share                            
    Total equity   246,939       235,235       223,534       214,213       201,442  
    Less: Total intangible assets   1,964       1,993       2,087       2,006       2,164  
    Total tangible equity   244,975       233,242       221,447       212,207       199,278  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  
    Tangible book value per share (non-GAAP) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

    The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, adjusted efficiency ratio, pretax pre-provision net revenue, average tangible common equity, adjusted return on average assets, return on average tangible common equity and adjusted return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.

         
      GAAP to Non-GAAP Reconciliation  
      (Dollars in thousands)  
               
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
    Efficiency Ratio          
    Noninterest expense $ 29,744     $ 25,745  
    Net interest income   57,845       47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Efficiency ratio (non-GAAP)   48.61 %     51.08 %
               
    Pretax pre-provision net revenue          
    Net interest income $ 57,845     $ 47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Less: Noninterest expense   29,744       25,745  
    Pretax pre-provision net revenue (non-GAAP) $ 31,444     $ 24,657  
               
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity          
    Net income $ 21,011     $ 15,711  
    Average assets   2,477,554       2,195,419  
    Average shareholders’ equity   236,517       194,708  
    Less: Average intangible assets   2,025       2,185  
    Average tangible common equity (non-GAAP)   234,492       192,523  
               
    Return on average assets   1.71 %     1.44 %
    Return on average equity   17.91 %     16.23 %
    Return on average tangible common equity (non-GAAP)   18.07 %     16.41 %
                   

    The MIL Network –

  • MIL-OSI: Private Bancorp of America, Inc. Announces Strong Net Income and Earnings Per Share for Second Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

    • Net income for the second quarter of 2025 was $10.4 million, compared to $10.6 million in the prior quarter and $7.8 million in the second quarter of 2024. Net income increased 33.5% year over year
    • Net income for the second quarter of 2025 represents a return on average assets of 1.69% and a return on average tangible common equity of 17.44%
    • Diluted earnings per share for the second quarter of 2025 was $1.77, compared to $1.80 in the prior quarter and $1.35 in the second quarter of 2024
    • Core deposits were $2.07 billion as of June 30, 2025, an increase of $22.0 million or 1.1% from March 31, 2025. Core deposits increased $327.6 million or 18.8% year over year. Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million or 1.3% from March 31, 2025, which included a reduction in brokered deposits of $51.2 million. Total deposits increased 8.1% year over year
    • Total cost of deposits was 2.08% for the second quarter of 2025, a decrease from 2.22% in the prior quarter and 2.67% in the second quarter of 2024, an improvement of 6.4% quarter over quarter and 22.3% year over year. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025. Total cost of funding sources was 2.14% for the second quarter of 2025, a decrease from 2.29% in the prior quarter and 2.78% in the second quarter of 2024
    • Loans held-for-investment (“HFI”) totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% from March 31, 2025. Loans HFI increased 5.1% year over year
    • Net interest margin was 4.94% for the second quarter of 2025, compared to 4.61% in the prior quarter and 4.48% in the second quarter of 2024
    • Provision for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million for the prior quarter and $2.1 million for the second quarter of 2024. The allowance for loan losses was 1.35% of loans HFI as of June 30, 2025 compared to 1.27% at March 31, 2025
    • As of June 30, 2025, criticized loans totaled $58.2 million, or 2.79% of total loans, up from $40.8 million, or 1.96% of total loans, in the prior quarter
    • Tangible book value per share was $42.20 as of June 30, 2025, an increase of $1.91 since March 31, 2025 primarily as a result of strong earnings. Tangible book value per share increased 4.7% quarter-over-quarter and 21.8% year over year.

    LA JOLLA, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX: PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the second fiscal quarter ended June 30, 2025. The Company reported net income of $10.4 million, or $1.77 per diluted share, for the second quarter of 2025, compared to $10.6 million, or $1.80 per diluted share, in the prior quarter, and $7.8 million, or $1.35 per diluted share, in the second quarter of 2024.

    Rick Sowers, President and CEO of the Company and the Bank stated, “Earnings continue to be strong as a result of improvement in our deposit base and funding costs as well as an industry leading net interest margin.  Although 2025 has been a slower year for loan growth due to economic uncertainty and what we view as unreasonable market loan pricing, we are adding new Relationships across our footprint by delivering Distinctively Different Service and providing Clients with customized Solutions that meet their individual needs. We have onboarded 8 new Relationship focused Team Members this quarter, with more in the pipeline.  We are strong believers in the Southern California market, as demonstrated by our new Santa Barbara County office in Montecito, which we anticipate opening in the third quarter.”

    Sowers added, “The Bank’s superior financial performance and industry leading service metrics continue to be recognized by industry publications and our Clients. This recognition reinforces our strategic thinking and our dedication to excellence, innovation, delivering Client-focused banking solutions and enhancing shareholder value: 

    • Top 20 Community Banks in the US for 2025 by American Banker with assets between $2B and $10B in assets and #2 in California
    • #1 for both Return on Assets (ROA) and Return on Equity (ROE) among banks with less than $5 billion in assets in 2024
    • #1 SBA 504 Community Bank Lender in the United States
    • #10 Best U.S. Bank by Bank Director’s RankingBanking®
    • Client Net Promoter Score of 81 (World Class)
    • Bauer 5 Star Rating
    • 2025 Best 50 OTCQX

    “Management has continued to focus on providing clients with a differentiated superior banking experience while producing industry leading shareholder value creation. Client surveys validate superior service levels while financial results remain in the top tier of banks nationally. Outstanding net interest margin and superior efficiency ratios confirm both the bank’s unique client relationship strategy, calculated decision making, and the effective operating systems that have resulted from our continuous improvement focus through project management, product evaluation, and technology implementation programs. In preparation for a less certain general economic environment, we have continued to invest in people and technology. We expanded our geographic footprint into Santa Barbara County and added relationship managers throughout Southern California, and management is preparing for and evaluating a wave of newer technologies including AI and risk management tools. In addition, our Team takes pride in continuing to commit their time and the bank’s financial support for non-profits in the communities we serve, in gratitude for these organizations’ outstanding work to strengthen their communities by improving the lives of those they serve,” said Selwyn Isakow, Chairman of the Board of the Company and the Bank.

    STATEMENT OF INCOME

    Net Interest Income

    Net interest income for the second quarter of 2025 totaled $30.1 million, an increase of $2.4 million or 8.6% from the prior quarter and an increase of $5.4 million or 22.1% from the second quarter of 2024. The increase from the prior quarter was due to a $1.7 million increase in interest income, which included $0.7 million of nonaccrual interest recognized on loans that were fully satisfied through a foreclosure, and a $0.7 million decrease in interest expense, resulting from a 19 basis point reduction in the cost of interest-bearing liabilities, primarily driven by a 14 basis point decrease in the cost of total deposits.

    Net Interest Margin

    Net interest margin for the second quarter of 2025 was 4.94%, compared to 4.61% for the prior quarter and 4.48% in the second quarter of 2024. The 33 basis point increase in net interest margin from the prior quarter was primarily due to a higher average yield on loans, which included the effect of an 11 basis point increase in net interest margin due to nonaccrual interest recognized on loans that were fully satisfied through foreclosure, and a decrease in the cost of total funding sources. The yield on interest-earning assets was 6.89% for the second quarter of 2025 compared to 6.70% for the prior quarter, and the cost of interest-bearing liabilities was 2.95% for the second quarter of 2025 compared to 3.14% in the prior quarter. The cost of total deposits was 2.08% for the second quarter of 2025 compared to 2.22% in the prior quarter. The cost of core deposits, which excludes brokered deposits, was 1.94% in the second quarter of 2025 compared to 1.99% in the prior quarter and 2.28% for the second quarter of 2024. The spot rate for total deposits was 2.04% as of June 30, 2025, compared to 2.11% at March 31, 2025.

    Provision for Credit Losses

    Provision expense for credit losses for the second quarter of 2025 was $1.3 million, compared to $0.3 million in the prior quarter and $2.1 million in the second quarter of 2024. The provision expense for loans HFI for the second quarter of 2025 was $1.7 million, primarily reflecting a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. This was offset by a $0.4 million reversal for unfunded commitments due to increased line of credit utilization that resulted in lower unfunded commitment balances. For more details, please refer to the “Asset Quality” section below.

    Noninterest Income

    Noninterest income was $1.7 million for the second quarter of 2025, compared to $1.6 million in the prior quarter and $1.5 million in the second quarter of 2024. U.S. Small Business Administration (“SBA”) loan sales for the second quarter of 2025 were $9.5 million with a 10.01% average trade premium resulting in a net gain on sale of $523 thousand, compared with $8.3 million with a 10.86% average trade premium resulting in a net gain on sale of $469 thousand in the prior quarter.

    Noninterest Expense

    Noninterest expense was $15.7 million for the second quarter of 2025, compared to $14.1 million in the prior quarter and $13.0 million in the second quarter of 2024. The increase in noninterest expense from the prior quarter is primarily due to higher compensation and benefits costs from continued hiring, including a team of bankers in Montecito, as well as elevated professional services expenses related to expanded loan portfolio reviews performed during the quarter as we proactively manage credit risk and the transition to a new Chief Credit Officer. The efficiency ratio was 49.27% for the second quarter of 2025 compared to 47.90% in the prior quarter and 49.46% in the second quarter of 2024. The slight increase in the efficiency ratio from the prior quarter was due to the increase in noninterest expense.

    The Company remains committed to making investments in the business, including technology, marketing, and staffing. Inflationary pressures and low unemployment continue to have an impact on rising wages as well as increased costs related to third party service providers, which we proactively monitor and manage.

    Provision for Income Tax Expense

    Provision for income tax expense was $4.4 million for the second quarter of 2025, compared to $4.4 million for the prior quarter. The effective tax rate for the second quarter of 2025 was 29.7%, compared to 29.5% in the prior quarter and 29.5% in the second quarter of 2024.

    STATEMENT OF FINANCIAL CONDITION

    As of June 30, 2025, total assets were $2.45 billion, a decrease of $28.0 million since March 31, 2025. The decrease in assets from the prior quarter was primarily due to lower cash and due from banks, partially offset by higher investment securities and loans receivable. Our total cash and due from banks decreased to $140.6 million as of June 30, 2025, a decrease of $77.9 million or 35.6% since March 31, 2025, primarily due to purchases of investment securities and a decrease in brokered deposits and borrowings. Investment securities available-for-sale (“AFS”) were $188.8 million as of June 30, 2025, an increase of $32.5 million or 20.8% since March 31, 2025, primarily as a result of new securities purchased. As of June 30, 2025, the net unrealized loss on the AFS investment securities portfolio, which is comprised mostly of US Treasury and Government Agency debt, was $9.0 million (pre-tax) compared to a loss of $10.1 million (pre-tax) as of March 31, 2025. The average duration of the Bank’s AFS portfolio is 3.9 years. The Company has no held-to-maturity securities. Loans HFI totaled $2.08 billion as of June 30, 2025, an increase of $2.4 million or 0.1% since March 31, 2025, primarily due to growth in investor owned commercial real estate (“CRE”) and SBA loans, partially offset by decreased construction and commercial and industrial (“C&I”) loan balances.

    Total deposits were $2.16 billion as of June 30, 2025, a decrease of $29.2 million since March 31, 2025. During the quarter, core deposits increased by $22.0 million, which was driven by a $19.6 million increase in interest-bearing core deposits (including balances in the IntraFi ICS and CDARS programs) and a $2.4 million increase in noninterest-bearing core deposits. The deposit mix has continued to shift due to short-term interest rates remaining elevated compared to recent years. Noninterest-bearing deposits represent 29.0% of total core deposits. Offsetting the increase to total deposits from core deposits, brokered deposits decreased by $51.2 million. Uninsured deposits, net of collateralized and fiduciary deposit accounts, represent 50.6% of total deposits as of June 30, 2025.

    As of June 30, 2025, total available liquidity was $2.1 billion or 194.5% of uninsured deposits, net of collateralized and fiduciary deposit accounts. Total available liquidity is comprised of $321 million of on-balance sheet liquidity (cash and investment securities) and $1.8 billion of unused borrowing capacity.

    Asset Quality and Allowance for Credit Losses (“ACL”)

    As of June 30, 2025, the allowance for loan losses was $28.2 million or 1.35% of loans HFI, compared to $26.4 million or 1.27% of loans HFI as of March 31, 2025. The increase in the coverage ratio from March 31, 2025 is due primarily to a $1.1 million increase in the specific reserve for a nonaccrual loan, as well as quarterly adjustments to CECL model inputs stemming from changes in loan risk ratings and a weakening economic outlook for Southern California. The Company continues to have strong credit metrics and its nonperforming assets are 0.66% of total assets as of June 30, 2025 compared to 0.63% as of March 31, 2025. The reserve for unfunded commitments was $0.9 million as of June 30, 2025, compared to $1.3 million as of March 31, 2025. The decrease in the reserve for unfunded commitments was due to lower unfunded commitment balances (driven by higher credit line usage). Given the credit quality of the loan portfolio, management believes we are sufficiently reserved.

    At June 30, 2025 and March 31, 2025, there were no doubtful credits and classified assets were $36.2 million and $27.8 million, respectively. Total classified assets consisted of 26 loans as of June 30, 2025, which included 17 loans totaling $22.5 million secured by real estate with total specific reserves of $1.1 million and a weighted average LTV of 56.6%. The remaining 9 loans were $13.7 million of commercial and industrial loans, one of which was an unsecured loan on nonaccrual status with a carrying value of $1.5 million and a specific reserve of $1.0 million (the loan is recorded net of a $1.1 million partial charge off recorded in the first quarter of 2025).

    The Bank’s loan portfolio does include assets that are in the affected areas of Los Angeles devastated by wildfires. Of these loans, two relationships with loan balances totaling $34.1 million have been placed on payment deferral.  However, based on assessments performed to date, management does not believe there is a material impact to the financial statements.

    Capital Ratios (2)

    The Bank’s capital ratios were in excess of the levels established for “well capitalized” institutions and are as follows:

      June 30, 2025 (2) March 31, 2025
    CalPrivate Bank    
    Tier I leverage ratio 10.70% 10.35%
    Tier I risk-based capital ratio 12.12% 11.75%
    Total risk-based capital ratio 13.37% 13.00%
         

    (2) June 30, 2025 capital ratios are preliminary and subject to change.

    CalPrivate Bank Announces Board of Directors Changes

    During the second quarter, Thomas Wornham and Richard Smith concluded their service on the Bank’s Board of Directors. The Bank extends its sincere gratitude to Mr. Wornham and Mr. Smith for their contributions and dedication during their tenure. Neither individual served on the Company’s Board of Directors. Mr. Smith continues his business development activities for the Bank.

    About Private Bancorp of America, Inc. (OTCQX: PBAM)

    PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and coming soon, Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior funding Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely-held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost 3x higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs,  cross border banking, and innovative, unique technologies that drive enhanced  client performance. CalPrivate Bank has been recognized by Bank Director’s RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.

    CalPrivate Bank’s website is www.calprivate.bank.

    Non-GAAP Financial Measures

    This press release contains certain non-GAAP financial measures in addition to results presented in accordance with GAAP, including efficiency ratio, pretax pre-provision net revenue, average tangible common equity and return on average tangible common equity. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s results of operations and financial condition and to enhance investors’ overall understanding of such results of operations and financial condition, to permit investors to effectively analyze financial trends of our business activities, and to enhance comparability with peers across the financial services sector. These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures prepared in accordance with GAAP and should be read in conjunction with the Company’s GAAP financial information. A reconciliation of the most comparable GAAP financial measures to non-GAAP financial measures is included in the accompanying financial tables.

    Investor Relations Contacts

    Rick Sowers
    President and Chief Executive Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (424) 303-4894

    Cory Stewart
    Executive Vice President and Chief Financial Officer
    Private Bancorp of America, Inc., and CalPrivate Bank
    (206) 293-3669

    Safe Harbor Paragraph

    This communication contains expressions of expectations, both implied and explicit, that are “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we believe in good faith the assumptions and bases supporting our forward-looking statements to be reasonable, there can be no assurance that those assumptions and bases will prove accurate.

                     
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED BALANCE SHEET
    (Unaudited)
    (Dollars in thousands)
                     
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024
    Assets                
    Cash and due from banks $ 26,215     $ 34,720     $ 13,545  
    Interest-bearing deposits in other financial institutions   14,715       16,155       12,502  
    Interest-bearing deposits at Federal Reserve Bank   99,689       167,606       132,330  
    Total cash and due from banks   140,619       218,481       158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,097  
    Investment debt securities available for sale   188,821       156,346       121,725  
    Loans held for sale   8,826       2,066       –  
    Loans, net of deferred fees and costs and unaccreted discounts   2,081,063       2,078,653       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       1,953,129  
    Federal Home Loan Bank stock, at cost   10,652       9,586       9,586  
    Operating lease right of use assets   7,254       6,383       4,719  
    Premises and equipment, net   2,213       2,432       2,207  
    Servicing assets, net   1,964       1,993       2,164  
    Accrued interest receivable   8,624       8,148       7,906  
    Other assets   28,752       21,009       21,774  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,285,684  
                     
    Liabilities and Shareholders’ Equity                
    Liabilities                
    Noninterest bearing $ 601,473     $ 599,095     $ 557,055  
    Interest bearing   1,561,407       1,593,014       1,444,671  
    Total deposits   2,162,880       2,192,109       2,001,726  
    FHLB borrowings   11,000       16,000       48,000  
    Other borrowings   17,972       17,970       17,965  
    Accrued interest payable and other liabilities   16,089       21,559       16,551  
    Total liabilities   2,207,941       2,247,638       2,084,242  
                     
    Shareholders’ equity                
    Common stock   76,398       76,156       74,636  
    Additional paid-in capital   4,009       3,712       3,717  
    Retained earnings   172,849       162,462       132,179  
    Accumulated other comprehensive (loss) income, net   (6,317 )     (7,095 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,285,684  
                           
    PRIVATE BANCORP OF AMERICA, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (Dollars in thousands, except per share amounts)
               
      For the three months ended     Year to Date  
      Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024
    Interest Income                            
    Loans $ 38,004     $ 36,565     $ 35,538     $ 74,569     $ 68,544  
    Investment securities   1,800       1,505       1,090       3,305       2,069  
    Deposits in other financial institutions   2,184       2,198       2,034       4,382       3,833  
    Total interest income   41,988       40,268       38,662       82,256       74,446  
                                 
    Interest Expense                            
    Deposits   11,376       11,899       13,040       23,275       25,170  
    Borrowings   499       637       952       1,136       1,838  
    Total interest expense   11,875       12,536       13,992       24,411       27,008  
                                 
    Net interest income   30,113       27,732       24,670       57,845       47,438  
    Provision for credit losses   1,293       299       2,136       1,592       2,369  
    Net interest income after provision for credit losses   28,820       27,433       22,534       56,253       45,069  
                                 
    Noninterest income:                            
    Service charges on deposit accounts   591       557       430       1,148       818  
    Net gain on sale of loans   523       469       661       992       1,342  
    Other noninterest income   616       587       447       1,203       804  
    Total noninterest income   1,730       1,613       1,538       3,343       2,964  
                                 
    Noninterest expense:                            
    Compensation and employee benefits   10,319       9,748       8,836       20,067       17,697  
    Occupancy and equipment   840       844       822       1,684       1,592  
    Data processing   1,396       1,326       1,183       2,722       2,241  
    Professional services   939       508       424       1,447       912  
    Other expenses   2,195       1,629       1,697       3,824       3,303  
    Total noninterest expense   15,689       14,055       12,962       29,744       25,745  
    Income before provision for income taxes   14,861       14,991       11,110       29,852       22,288  
    Provision for income taxes   4,412       4,429       3,283       8,841       6,577  
    Net income $ 10,449     $ 10,562     $ 7,827     $ 21,011     $ 15,711  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 7,761     $ 20,834     $ 15,595  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.36     $ 3.63     $ 2.74  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.35     $ 3.57     $ 2.71  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,702,938       5,744,836       5,688,135  
    Diluted average shares outstanding   5,837,537       5,826,229       5,762,616       5,830,897       5,755,250  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
                                                                           
      For the three months ended 
      Jun 30, 2025    Mar 31, 2025    Jun 30, 2024 
      Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate         		   Average
    Balance         		   Interest    Average
    Yield/Rate     
    Interest-Earnings Assets                                                                      
    Deposits in other financial institutions $ 191,701     $ 2,184       4.57 %   $ 202,907     $ 2,198       4.39 %   $ 152,563     $ 2,034       5.36 %
    Investment securities   182,772       1,800       3.94 %     157,747       1,505       3.82 %     123,876       1,090       3.52 %
    Loans, including LHFS   2,069,415       38,004       7.37 %     2,078,588       36,565       7.13 %     1,939,746       35,538       7.37 %
    Total interest-earning assets   2,443,888       41,988       6.89 %     2,439,242       40,268       6.70 %     2,216,185       38,662       7.02 %
    Noninterest-earning assets   43,336                       28,536                       25,675                  
    Total Assets $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Interest-Bearing Liabilities                                                                      
    Interest bearing DDA, excluding brokered   242,929       814       1.34 %     244,301       970       1.61 %     130,361       463       1.43 %
    Savings & MMA, excluding brokered   1,002,820       7,130       2.85 %     955,259       6,830       2.90 %     845,856       7,354       3.50 %
    Time deposits, excluding brokered   218,900       2,097       3.84 %     196,375       1,956       4.04 %     164,714       1,690       4.13 %
    Total deposits, excluding brokered   1,464,649       10,041       2.75 %     1,395,935       9,756       2.83 %     1,140,931       9,507       3.35 %
    Total brokered deposits   120,935       1,335       4.43 %     183,059       2,143       4.75 %     284,290       3,533       5.00 %
    Total Interest-Bearing Deposits   1,585,584       11,376       2.88 %     1,578,994       11,899       3.06 %     1,425,221       13,040       3.68 %
                                                                           
    FHLB advances   12,868       139       4.33 %     24,122       272       4.57 %     47,373       581       4.93 %
    Other borrowings   17,973       360       8.03 %     17,981       365       8.23 %     17,966       371       8.31 %
    Total Interest-Bearing Liabilities   1,616,425       11,875       2.95 %     1,621,097       12,536       3.14 %     1,490,560       13,992       3.78 %
                                                                           
    Noninterest-bearing deposits   609,760                       594,408                       535,878                  
    Total Funding Sources   2,226,185       11,875       2.14 %     2,215,505       12,536       2.29 %     2,026,438       13,992       2.78 %
                                                                           
    Noninterest-bearing liabilities   18,804                       21,542                       16,334                  
    Shareholders’ equity   242,235                       230,731                       199,088                  
                                                                           
    Total Liabilities and Shareholders’ Equity $ 2,487,224                     $ 2,467,778                     $ 2,241,860                  
                                                                           
    Net interest income/spread         $ 30,113       4.75 %           $ 27,732       4.41 %           $ 24,670       4.24 %
    Net interest margin                   4.94 %                     4.61 %                     4.48 %
                                                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Consolidated average balance sheet, interest, yield and rates
    (Unaudited)
    (Dollars in thousands)
         
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
      Average
    Balance    		     Interest     Average
    Yield/Rate    		     Average
    Balance    		     Interest     Average
    Yield/Rate    		  
    Interest-Earnings Assets:                                  
    Deposits in other financial institutions $ 197,273     $ 4,382       4.48 %   $ 144,037     $ 3,833       5.35 %
    Investment securities   170,328       3,305       3.88 %     121,783       2,069       3.40 %
    Loans   2,073,976       74,569       7.25 %     1,904,028       68,544       7.24 %
    Total interest-earning assets   2,441,577       82,256       6.79 %     2,169,848       74,446       6.90 %
    Noninterest-earning assets   35,977                   25,571              
    Total Assets $ 2,477,554                 $ 2,195,419              
                                       
    Interest-Bearing Liabilities                                  
    Interest bearing DDA, excluding brokered   243,611       1,784       1.48 %     120,100       904       1.51 %
    Savings & MMA, excluding brokered   979,170       13,960       2.88 %     805,813       13,775       3.44 %
    Time deposits, excluding brokered   207,699       4,053       3.94 %     160,208       3,273       4.11 %
    Total deposits, excluding brokered   1,430,480       19,797       2.79 %     1,086,121       17,952       3.32 %
    Total brokered deposits   151,825       3,478       4.62 %     286,088       7,218       5.07 %
    Total Interest-Bearing Deposits   1,582,305       23,275       2.97 %     1,372,209       25,170       3.69 %
                                       
    FHLB advances   18,464       411       4.49 %     48,653       1,195       4.94 %
    Other borrowings   17,977       725       8.13 %     17,964       643       7.20 %
    Total Interest-Bearing Liabilities   1,618,746       24,411       3.04 %     1,438,826       27,008       3.77 %
                                       
    Noninterest-bearing deposits   602,126                   544,709              
    Total Funding Sources   2,220,872       24,411       2.22 %     1,983,535       27,008       2.74 %
                                       
    Noninterest-bearing liabilities   20,165                   17,176              
    Shareholders’ equity   236,517                   194,708              
                                       
    Total Liabilities and Shareholders’ Equity $ 2,477,554                 $ 2,195,419              
                                       
    Net interest income/spread       $ 57,845       4.57 %         $ 47,438       4.16 %
    Net interest margin               4.78 %                 4.40 %
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Balance Sheets
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                                 
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Assets                            
    Cash and due from banks $ 140,619     $ 218,481     $ 163,876     $ 207,174     $ 158,377  
    Interest-bearing time deposits with other institutions   4,270       4,213       4,189       4,124       4,097  
    Investment securities   188,821       156,346       145,238       141,100       121,725  
    Loans held for sale   8,826       2,066       3,008       2,040       –  
    Total loans held-for-investment   2,081,063       2,078,653       2,085,149       2,012,457       1,979,720  
    Allowance for loan losses   (28,178 )     (26,437 )     (27,267 )     (26,594 )     (26,591 )
    Loans held-for-investment, net of allowance   2,052,885       2,052,216       2,057,882       1,985,863       1,953,129  
    Operating lease right of use assets   7,254       6,383       6,819       4,344       4,719  
    Premises and equipment, net   2,213       2,432       2,335       2,345       2,207  
    Other assets and interest receivable   49,992       40,736       40,664       39,383       41,430  
    Total assets $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Liabilities and Shareholders’ Equity                            
    Liabilities                            
    Noninterest Bearing $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest Bearing   1,561,407       1,593,014       1,581,054       1,522,839       1,444,671  
    Total Deposits   2,162,880       2,192,109       2,134,459       2,107,131       2,001,726  
    Borrowings   28,972       33,970       45,969       45,967       65,965  
    Accrued interest payable and other liabilities   16,089       21,559       20,049       19,062       16,551  
    Total liabilities   2,207,941       2,247,638       2,200,477       2,172,160       2,084,242  
    Shareholders’ equity                            
    Common stock   76,398       76,156       75,377       74,688       74,636  
    Additional paid-in capital   4,009       3,712       4,393       4,271       3,717  
    Retained earnings   172,849       162,462       152,252       141,623       132,179  
    Accumulated other comprehensive (loss) income   (6,317 )     (7,095 )     (8,488 )     (6,369 )     (9,090 )
    Total shareholders’ equity   246,939       235,235       223,534       214,213       201,442  
    Total liabilities and shareholders’ equity $ 2,454,880     $ 2,482,873     $ 2,424,011     $ 2,386,373     $ 2,285,684  
                                 
    Book value per common share $ 42.54     $ 40.63     $ 38.76     $ 37.21     $ 35.03  
    Tangible book value per common share (1) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

     
    PRIVATE BANCORP OF AMERICA, INC.
    Condensed Statements of Income
    (Unaudited)
    (Dollars in thousands, except per share amounts)
         
      For the three months ended  
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Interest income $ 41,988     $ 40,268     $ 40,430     $ 40,018     $ 38,662  
    Interest expense   11,875       12,536       13,023       14,311       13,992  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Provision for credit losses   1,293       299       17       304       2,136  
    Net interest income after provision for credit losses   28,820       27,433       27,390       25,403       22,534  
                                 
    Service charges on deposit accounts   591       557       558       504       430  
    Net gain on sale of loans   523       469       932       587       661  
    Other noninterest income   616       587       456       343       447  
    Total noninterest income   1,730       1,613       1,946       1,434       1,538  
                                 
    Compensation and employee benefits   10,319       9,748       9,539       9,422       8,836  
    Occupancy and equipment   840       844       847       818       822  
    Data processing   1,396       1,326       1,195       1,238       1,183  
    Professional services   939       508       573       252       424  
    Other expenses   2,195       1,629       2,036       1,695       1,697  
    Total noninterest expense   15,689       14,055       14,190       13,425       12,962  
                                 
    Income before provision for income taxes   14,861       14,991       15,146       13,412       11,110  
    Income taxes   4,412       4,429       4,488       3,959       3,283  
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Net income available to common shareholders $ 10,361     $ 10,482     $ 10,573     $ 9,373     $ 7,761  
                                 
    Earnings per share                            
    Basic earnings per share $ 1.80     $ 1.83     $ 1.85     $ 1.64     $ 1.36  
    Diluted earnings per share $ 1.77     $ 1.80     $ 1.82     $ 1.63     $ 1.35  
                                 
    Average shares outstanding   5,754,872       5,734,688       5,716,291       5,707,723       5,702,938  
    Diluted average shares outstanding   5,837,537       5,826,229       5,813,197       5,767,401       5,762,616  
                                           
      Performance Ratios
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    ROAA   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    ROAE   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    ROATCE (1)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
    Net interest margin   4.94 %     4.61 %     4.67 %     4.44 %     4.48 %
    Net interest spread   4.75 %     4.41 %     4.44 %     4.20 %     4.24 %
    Efficiency ratio (1)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
    Noninterest expense / average assets   2.53 %     2.31 %     2.39 %     2.29 %     2.32 %

    (1) Non-GAAP measure. See GAAP to non-GAAP Reconciliation table.

     
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
       
      Selected Quarterly Average Balances
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total assets $ 2,487,224     $ 2,467,778     $ 2,359,950     $ 2,328,399     $ 2,241,860  
    Earning assets $ 2,443,888     $ 2,439,242     $ 2,334,999     $ 2,303,537     $ 2,216,185  
    Total loans, including loans held for sale $ 2,069,415     $ 2,078,588     $ 2,036,178     $ 1,989,748     $ 1,939,746  
    Total deposits $ 2,195,344     $ 2,173,402     $ 2,071,050     $ 2,047,197     $ 1,961,099  
    Total shareholders’ equity $ 242,235     $ 230,731     $ 219,963     $ 208,889     $ 199,088  
                                           
      Loan Balances by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Commercial Real Estate (CRE):                            
    Investor owned $ 604,073     $ 577,512     $ 572,659     $ 560,481     $ 566,314  
    Owner occupied   223,558       228,232       223,442       221,364       216,876  
    Multifamily   160,902       163,218       162,330       175,387       177,390  
    Secured by single family   197,100       200,650       198,579       190,738       181,744  
    Land and construction   51,669       70,293       62,638       68,186       58,109  
    SBA secured by real estate   407,148       402,524       401,990       395,646       388,271  
    Total CRE   1,644,450       1,642,429       1,621,638       1,611,802       1,588,704  
    Commercial business:                            
    Commercial and industrial   404,489       417,258       441,182       383,874       378,161  
    SBA non-real estate secured   30,183       17,004       20,205       15,101       10,758  
    Total commercial business   434,672       434,262       461,387       398,975       388,919  
    Consumer   1,941       1,962       2,124       1,680       2,097  
    Total loans held for investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
                                           
      Deposits by Type
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Noninterest-bearing DDA $ 601,473     $ 599,095     $ 553,405     $ 584,292     $ 557,055  
    Interest-bearing DDA, excluding brokered   251,701       257,720       251,594       182,268       156,253  
    Savings & MMA, excluding brokered   990,798       981,491       887,740       920,219       861,508  
    Time deposits, excluding brokered   227,129       210,845       201,851       186,583       168,664  
    Total deposits, excluding brokered   2,071,101       2,049,151       1,894,590       1,873,362       1,743,480  
    Total brokered deposits   91,779       142,958       239,869       233,769       258,246  
    Total deposits $ 2,162,880     $ 2,192,109     $ 2,134,459     $ 2,107,131     $ 2,001,726  
                                           
    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)
         
      Rollforward of Allowance for Credit Losses
      (Dollars in thousands)
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Allowance for loan losses:                            
    Beginning balance $ 26,437     $ 27,267     $ 26,594     $ 26,591     $ 24,693  
    Provision for loan losses   1,741       460       673       3       1,994  
    Net (charge-offs) recoveries   –       (1,290 )     –       –       (96 )
    Ending balance   28,178       26,437       27,267       26,594       26,591  
    Reserve for unfunded commitments   899       1,348       1,509       2,165       1,865  
    Total allowance for credit losses $ 29,077     $ 27,785     $ 28,776     $ 28,759     $ 28,456  
                                           
      Asset Quality
      (Dollars in thousands)
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Total loans held-for-investment $ 2,081,063     $ 2,078,653     $ 2,085,149     $ 2,012,457     $ 1,979,720  
    Allowance for loan losses $ (28,178 )   $ (26,437 )   $ (27,267 )   $ (26,594 )   $ (26,591 )
    30-89 day past due loans $ 4,842     $ 2,399     $ 1,952     $ –     $ –  
    90+ day past due loans $ 2,850     $ 13,223     $ 11,512     $ 11,512     $ 2,500  
    Nonaccrual loans $ 7,716     $ 15,565     $ 11,512     $ 11,512     $ 2,500  
    Other real estate owned (OREO) $ 8,568     $ –     $ –     $ –     $ –  
    NPAs / Total assets   0.66 %     0.63 %     0.47 %     0.48 %     0.11 %
    NPLs / Total loans held-for-investment   0.37 %     0.75 %     0.55 %     0.57 %     0.13 %
    Net quarterly charge-offs (recoveries) $ –     $ 1,290     $ –     $ –     $ 96  
    Net charge-offs (recoveries) /avg loans (annualized)   0.00 %     0.25 %     0.00 %     0.00 %     0.02 %
    Allowance for loan losses to loans HFI   1.35 %     1.27 %     1.31 %     1.32 %     1.34 %
    Allowance for loan losses to nonaccrual loans   365.19 %     169.85 %     236.86 %     231.01 %     1063.64 %
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

    The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, pretax pre-provision net revenue, average tangible common equity, and return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.

         
      GAAP to Non-GAAP Reconciliation
      (Dollars in thousands)
                                 
      For the three months ended
      Jun 30, 2025   Mar 31, 2025   Dec 31, 2024   Sep 30, 2024   Jun 30, 2024
    Efficiency Ratio                            
    Noninterest expense $ 15,689     $ 14,055     $ 14,190     $ 13,425     $ 12,962  
    Net interest income   30,113       27,732       27,407       25,707       24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Efficiency ratio (non-GAAP)   49.27 %     47.90 %     48.34 %     49.46 %     49.46 %
                                 
    Pretax pre-provision net revenue                            
    Net interest income $ 30,113     $ 27,732     $ 27,407     $ 25,707     $ 24,670  
    Noninterest income   1,730       1,613       1,946       1,434       1,538  
    Total net interest income and noninterest income   31,843       29,345       29,353       27,141       26,208  
    Less: Noninterest expense   15,689       14,055       14,190       13,425       12,962  
    Pretax pre-provision net revenue (non-GAAP) $ 16,154     $ 15,290     $ 15,163     $ 13,716     $ 13,246  
                                 
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity                            
    Net income $ 10,449     $ 10,562     $ 10,658     $ 9,453     $ 7,827  
    Average assets   2,487,224       2,467,778       2,359,950       2,328,399       2,241,860  
    Average shareholders’ equity   242,235       230,731       219,963       208,889       199,088  
    Less: Average intangible assets   1,953       2,098       2,028       2,051       2,163  
    Average tangible common equity (non-GAAP)   240,282       228,633       217,935       206,838       196,925  
                                 
    Return on average assets   1.69 %     1.74 %     1.80 %     1.62 %     1.40 %
    Return on average equity   17.30 %     18.56 %     19.28 %     18.00 %     15.81 %
    Return on average tangible common equity (non-GAAP)   17.44 %     18.74 %     19.46 %     18.18 %     15.99 %
                                 
    Tangible book value per share                            
    Total equity   246,939       235,235       223,534       214,213       201,442  
    Less: Total intangible assets   1,964       1,993       2,087       2,006       2,164  
    Total tangible equity   244,975       233,242       221,447       212,207       199,278  
    Shares outstanding   5,805,286       5,789,306       5,766,810       5,756,207       5,751,143  
    Tangible book value per share (non-GAAP) $ 42.20     $ 40.29     $ 38.40     $ 36.87     $ 34.65  
                                           

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

    The following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: efficiency ratio, adjusted efficiency ratio, pretax pre-provision net revenue, average tangible common equity, adjusted return on average assets, return on average tangible common equity and adjusted return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should not be considered a substitute of the GAAP measures.

         
      GAAP to Non-GAAP Reconciliation  
      (Dollars in thousands)  
               
      Year to Date  
      Jun 30, 2025     Jun 30, 2024  
    Efficiency Ratio          
    Noninterest expense $ 29,744     $ 25,745  
    Net interest income   57,845       47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Efficiency ratio (non-GAAP)   48.61 %     51.08 %
               
    Pretax pre-provision net revenue          
    Net interest income $ 57,845     $ 47,438  
    Noninterest income   3,343       2,964  
    Total net interest income and noninterest income   61,188       50,402  
    Less: Noninterest expense   29,744       25,745  
    Pretax pre-provision net revenue (non-GAAP) $ 31,444     $ 24,657  
               
    Return and Adjusted Return on Average Assets, Average Equity, Average Tangible Equity          
    Net income $ 21,011     $ 15,711  
    Average assets   2,477,554       2,195,419  
    Average shareholders’ equity   236,517       194,708  
    Less: Average intangible assets   2,025       2,185  
    Average tangible common equity (non-GAAP)   234,492       192,523  
               
    Return on average assets   1.71 %     1.44 %
    Return on average equity   17.91 %     16.23 %
    Return on average tangible common equity (non-GAAP)   18.07 %     16.41 %
                   

    The MIL Network –

  • MIL-OSI Europe: Written question – Inadequate management of EU funds for fire prevention – E-002833/2025

    Source: European Parliament

    Question for written answer  E-002833/2025
    to the Commission
    Rule 144
    Galato Alexandraki (ECR)

    According to a 2024 report by the European Court of Auditors, forest fires in the EU have tripled in frequency compared to the 2006-2010 period, destroying 5 250 square kilometres per year. Despite increased funding, the EU is failing to prevent an escalation of this phenomenon, owing to a lack of targeted and sustainable use of funds.

    The ECA points to cases of inappropriate allocation of funding, where outdated maps were used or priority was given to areas without real risk. In Greece – where last year, for example, wildfires burned an area three times the historical average – the list of vulnerable areas is based on data from 1979, while EUR 470 million was made available through the Recovery and Resilience Facility without guarantees for a lasting impact.

    In view of the above, can the Commission say:

    • 1.How does it intend to ensure that EU funds for forest fire prevention are directed to areas in real need and on the basis of updated maps?
    • 2.What steps will it take to ensure the sustainability and long-term effectiveness of the measures financed?
    • 3.Does it consider it acceptable to use data as old as that used by Greece for such critical environmental projects?

    Submitted: 11.7.2025

    Last updated: 17 July 2025

    MIL OSI Europe News –

  • MIL-OSI United Nations: El Salvador: Community-led mangrove restoration through Green Life Insurance

    Source: UNISDR Disaster Risk Reduction

    This case study was collected through a Call for Good Practices on Reducing Risk across SDG Transitions, launched by the UNDRR Focal Points Group in 2024.

    SDGs addressed: 13 | 14 | 15 | 8 | 5 | 10

    Coastal Barra de Santiago has lost 60 % of its mangroves in 50 years. The Green Life Insurance initiative, driven by Davivienda Seguros and the ARISE leader FUNDEMAS, channels part of each policy premium into community restoration. With technical support from GIZ and permits from the Ministry of Environment & Natural Resources (MARN), residents-led by the women’s association AMBAS-have restored 8 ha and planted 26 200 mangroves, sequestering 1 892 t CO₂ and improving habitat across the 11 500-ha Ramsar site.

    Innovation & Success Factors

    • Finance-nature link – insurance premiums fund measurable ecological gains.
    • Women-centred governance empowers AMBAS (60 % female workforce) and secures local buy-in.
    • Outcome-based payments tie funding to survival rates and canopy growth.

    Key impacts

    • Disaster-risk reduction – mangroves buffer storm surge, erosion and flooding.
    • Livelihoods – 70 families receive paid restoration work and nursery jobs.
    • Carbon storage – 1 892 t CO₂ captured.
    • Biodiversity – habitat revived for fish, birds and turtles; fish stocks rising.
    • Replication pipeline – plan to restore 10 ha more and replicate model in Honduras & Costa Rica.

    Lessons learned for replication or adaptation

    1. Community ownership sustains effort; locals plan, plant and monitor.
    2. Tying finance to ecological metrics secures long-term funding.
    3. Public-private-community governance speeds permits and aligns incentives.
    4. Gender focus increases impact and ensures broad social acceptance.
    5. Baseline & monitoring data from GIZ proved vital for adaptive management.

    Other resources / Explore further

    Organisations involved

    • Private sector: Davivienda Seguros (insurer & funder)
    • UN system: UNDRR via ARISE Private Sector Alliance
    • National NGO: FUNDEMAS (ARISE El Salvador leader)
    • Government: Ministry of Environment & Natural Resources (permits)
    • Technical partner: GIZ (capacity-building, biodiversity monitoring)
    • Community group: Asociación de Mujeres de la Barra de Santiago (AMBAS)

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Costa Rica: Multi-hazard probabilistic risk assessment for resilience

    Source: UNISDR Disaster Risk Reduction

    This case study was collected through a Call for Good Practices on Reducing Risk across SDG Transitions, launched by the UN DRR Focal Points Group in 2024.

    SDGs addressed: 2 | 4 | 6

    Costa Rica is exposed to earthquakes, floods, hurricanes and landslides. Historically, risk studies focused on direct physical losses, leaving indirect economic impacts invisible. In 2022-23 the National Commission for Emergencies (CNE), UNDRR and technical contractor ERN International completed an 18-month probabilistic, multi-hazard risk assessment-the first of its kind at national scale in the region. Through multi-sector data sharing and stakeholder workshops, the project produced validated loss curves for infrastructure, housing, water and sanitation, capturing supply-chain and public-service disruptions. The results now inform resilient-investment decisions and new disaster-risk-financing instruments.

    Innovation & Success Factors

    • Indirect-loss modelling revealed macro-economic ripple effects previously overlooked.
    • Peril-agnostic methodology-the same framework can add hurricanes or landslides when data mature.
    • Risk-literacy workshops turned complex outputs into decision-ready information for ministries and insurers.

    Key impacts

    • Authoritative national loss curves for earthquakes & floods (direct + indirect).
    • Financial innovation – data underpin risk-transfer tools (e.g., catastrophe bonds, Global Shield discussions).
    • Policy leverage – evidence feeds new regulations for resilient infrastructure and DRR financing.
    • Capacity built – 80+ officials, academics and private-sector actors trained in probabilistic analysis.
    • Replication path – same arithmetic can down-scale to provincial level, subject to data availability.

    Lessons learned for replication or adaptation

    1. Include indirect impacts to expose hidden vulnerabilities.
    2. Organised national datasets accelerate modelling.
    3. Embed capacity-building for sustained use and updates.
    4. Engage finance stakeholders early so risk data translate into investment criteria.
    5. Start with high-impact hazards, expand incrementally as data improve.

    Organisations involved

    • Lead UN entity: UNDRR
    • National lead: National Commission for Emergencies (CNE)
    • Technical partner: ERN International
    • Advisory group: RSTAG members in Costa Rica

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Homa Bay leads the way in inclusive disaster resilience planning

    Source: UNISDR Disaster Risk Reduction

    In a major step toward enhancing inclusive disaster resilience, the County Government of Homa Bay, Kenya, hosted a four-day Multi-Stakeholder Workshop on inclusive disaster risk reduction (DRR) from 26-30 May 2025. The event was organized in collaboration with the United Nations Office for Disaster Risk Reduction (UNDRR) Regional Office for Africa, under the project “Strengthening Early Warning and Early Action in Kenya” funded by the Italian Agency for Development Cooperation (AICS). 

    The workshop brought together 55 participants, including representatives from local government departments, national agencies, organizations of persons with disabilities (OPDs), and community-based organizations (CBOs). The gathering provided a valuable platform that focused on integrating the needs and perspectives of at-risk populations including persons with disabilities into DRR strategies and early warning systems. 

    Addressing Critical Gaps Through Collaboration 

    The workshop revealed key opportunities to strengthen the county’s disaster preparedness. Through participatory assessments, the workshop identified several areas for improvement, including the need for better coordination mechanisms, more inclusive early warning systems, and stronger integration of gender and disability perspectives in disaster planning. 

    While Homa Bay has a solid policy foundation such as the County Emergency and Disaster Management Act and active participation in the Making Cities Resilient 2030 (MCR2030) initiative, the assessments showed clear opportunities to make these systems more inclusive and effective. 

    “New hazards are emerging-beyond floods and droughts we now face strange, extreme weather events. We must explore innovative, cost-effective ways to strengthen preparedness. One shilling spent on preparedness will save hundreds in response. We must shift our investments from response to resilience,” said Najib Abdi, the technical lead for disaster risk management at the Council of Governors. 

    Making Early Warnings Accessible 

    A highlight of the workshop was the focus on strengthening multi-hazard early warning systems. Kenya recently launched the Early Warnings for All (EW4ALL) initiative, and Homa Bay County was recognized as a pioneer in county-level implementation. 

    “Early warning systems save lives, but only if the warnings reach everyone. We learned that we need to think differently about how we communicate risks – using local languages, accessible formats, and trusted community networks, ” Col (Rtd) David Samoei, MBS, Director NDOC. 

    The county’s Climate Information Center already supports over 200,000 farmers with agro-advisories and early warning information. The workshop explored ways to expand this system to reach more vulnerable populations, including women, persons with disabilities, and rural communities who may have limited access to traditional communication channels. 

    “At the Public Health Directorate, we rely on disease surveillance systems and historical data to anticipate outbreaks like cholera and measles. Our risk reduction efforts focus on improving water supply, sanitation, and vaccination coverage to prevent such health emergencies before they occur,” said James Kabaka, County Public Health Officer 

    A Model for Inclusive Resilience 

    One of the workshop’s achievements was bringing together diverse stakeholders who are often overlooked in the disaster planning processes. Representatives from OPDs, and CBOs worked alongside government officials to identify barriers and solutions. The assessments revealed that persons with disabilities face significant challenges during disaster events, from inaccessible evacuation routes to lack of appropriate communication during emergencies. Similarly, women’s leadership potential and traditional knowledge are often underutilized in disaster preparedness and response. 

    Building Forward: From Assessment to Action 

    The workshop concluded with the development of actions addressing identified gaps through coordinated, multi-sectoral approaches. Priority areas include the establishment of dedicated coordination mechanisms for inclusive DRR and development of disaggregated data systems to better understand community vulnerabilities. Key initiatives also focus on strengthening infrastructure accessibility through universal design standards, integrating traditional and indigenous knowledge into formal early warning systems, and building capacity among government staff and first responders on inclusive practices. 

    “We often develop comprehensive plans but fail to integrate them into our County Intergrated Development Plans and Annual Development Plans leaving them unfunded. We also haven’t properly analysed trigger points for different hazards – when exactly should we activate emergency responses? These are two critical gaps we need to address, ” Willy Bolo, Ag. Director Economic Planning & Budget 

    A Foundation for Regional Learning 

    This training builds on efforts in resilience building work previously established through the GIZ Resilience Initiative Africa (RIA). The workshop’s participatory approach and comprehensive assessments provide a replicable model for other counties seeking to strengthen their disaster resilience through inclusive, multi-stakeholder collaboration. “This was not just a technical workshop-it was a call to action. Disaster risk reduction is a system of protection, prevention, and preparedness that must be embedded in everything we do. I am committing to strengthen interdepartmental coordination so that disaster risk is integrated into all health planning and service delivery mechanisms,” said Grace Osewe, County Executive Committee Member for Public Health and Medical Services.

    MIL OSI United Nations News –

  • MIL-OSI USA: DHS Statement on Capture of Violent Extremist Involved in Prairieland Attack on ICE Agents

    Source: US Federal Emergency Management Agency

    Headline: DHS Statement on Capture of Violent Extremist Involved in Prairieland Attack on ICE Agents

    Song, a former U

    S

    Marine Corps reservist, joined a violent group of at least 10 individuals in opening fire on officers at the federal facility just after 10:30 p

    m

    on Independence Day

    He is charged with three counts of attempted murder of federal agents and three counts of discharging a firearm during a crime of violence

    His capture brings the total number of arrests in the attack to 14

    Image

    “On Independence Day, as Americans were celebrating our freedoms, a group of violent extremists attempted to assassinate federal officers protecting us from violent criminals,” said Assistant Secretary Tricia McLaughlin

    “Song’s arrest sends a clear message: under President Trump and Secretary Noem, if you lay a hand on an ICE agent, you will NOT walk free

    We will not forget, and we will not rest until every attacker is in custody

    ” 

    The Prairieland Detention Center, which housed more than 1,000 illegal aliens on the night of the attack, includes detainees with convictions for rape, child molestation, murder, kidnapping, arson, human trafficking, and terrorism

    Nearly 50 known members of MS-13, Tren de Aragua, and other transnational gangs were among the detainees, in addition to 13 Known or Suspected Terrorists (KSTs)

    This is just the latest in a disturbing pattern of politically motivated violence targeting DHS personnel

    Last week, ICE officers conducting enforcement operations in San Francisco were assaulted by violent protestors

    In June, rioters stormed an ICE field office in Portland

    ICE agents are now facing an 830% increase in assaults against them

    DHS and its law enforcement partners continue working around the clock to identify, arrest, and prosecute anyone involved in the July 4 ambush or other coordinated attacks against federal officers

     
    ###

    MIL OSI USA News –

  • MIL-OSI USA: DHS Statement on Capture of Violent Extremist Involved in Prairieland Attack on ICE Agents

    Source: US Federal Emergency Management Agency

    Headline: DHS Statement on Capture of Violent Extremist Involved in Prairieland Attack on ICE Agents

    Song, a former U

    S

    Marine Corps reservist, joined a violent group of at least 10 individuals in opening fire on officers at the federal facility just after 10:30 p

    m

    on Independence Day

    He is charged with three counts of attempted murder of federal agents and three counts of discharging a firearm during a crime of violence

    His capture brings the total number of arrests in the attack to 14

    Image

    “On Independence Day, as Americans were celebrating our freedoms, a group of violent extremists attempted to assassinate federal officers protecting us from violent criminals,” said Assistant Secretary Tricia McLaughlin

    “Song’s arrest sends a clear message: under President Trump and Secretary Noem, if you lay a hand on an ICE agent, you will NOT walk free

    We will not forget, and we will not rest until every attacker is in custody

    ” 

    The Prairieland Detention Center, which housed more than 1,000 illegal aliens on the night of the attack, includes detainees with convictions for rape, child molestation, murder, kidnapping, arson, human trafficking, and terrorism

    Nearly 50 known members of MS-13, Tren de Aragua, and other transnational gangs were among the detainees, in addition to 13 Known or Suspected Terrorists (KSTs)

    This is just the latest in a disturbing pattern of politically motivated violence targeting DHS personnel

    Last week, ICE officers conducting enforcement operations in San Francisco were assaulted by violent protestors

    In June, rioters stormed an ICE field office in Portland

    ICE agents are now facing an 830% increase in assaults against them

    DHS and its law enforcement partners continue working around the clock to identify, arrest, and prosecute anyone involved in the July 4 ambush or other coordinated attacks against federal officers

     
    ###

    MIL OSI USA News –

  • MIL-OSI USA: Wildfire Smoke Billows Over Northern California

    Source: NASA

    Several large wildland fires burned in Northern California in mid-July 2025 amid exceptional heat and low humidity. Notable blazes included the Green and Butler fires, visible in images captured by the OLI (Operational Land Imager) on the Landsat 8 satellite on July 13.
    On July 1, lightning ignited the Green fire north of the Pit River arm of Shasta Lake. By the date Landsat acquired these images, the blaze had grown to 10,334 acres (4,182 hectares), according to the U.S. Forest Service. The wide view above shows smoke billowing south, contributing to unhealthy air quality around the lake and in communities along the Sacramento River from Redding to Anderson, according to the interagency air quality monitoring tool AirNow. The second image below shows a detailed view of the active fire area; bright orange indicates the infrared signature of actively burning fires.

    Meanwhile, approximately 120 kilometers (75 miles) to the northwest, the Butler fire was burning in the Six Rivers National Forest east of Orleans. When Landsat 8 captured this image (below) on July 13, the blaze had burned 7,203 acres, according to the U.S. Forest Service. Smoke plumes billowed toward the west over Orleans and had also wafted over regions east of the blaze. NASA’s TEMPO (Tropospheric Emissions: Monitoring of Pollution) sensor also observed nitrogen dioxide air pollution from the fire throughout the day.

    The weather conditions around the time of these images were favorable for fire, according to U.S. Forest Service reports, with temperatures climbing over 100 degrees Fahrenheit and humidity dropping below 20 percent. By mid-week, conditions improved somewhat as temperatures dropped below 100 degrees and humidity increased slightly.
    As of July 16, the fires had expanded to 15,438 acres (Green) and 9,191 acres (Butler) and were 13 percent and zero percent contained, respectively. Evacuation orders and warnings persisted in several zones in Shasta County near the Green fire and expanded to include several new zones, such as the area around Forks of Salmon, near the Butler fire.
    These fires and others can be tracked using NASA tools such as the Fire Information for Resource Management System (FIRMS), Worldview, and the Fire Events Explorer.
    NASA Earth Observatory images by Lauren Dauphin, using Landsat data from the U.S. Geological Survey. Story by Kathryn Hansen.

    MIL OSI USA News –

  • MIL-OSI USA: Wildfire Smoke Billows Over Northern California

    Source: NASA

    Several large wildland fires burned in Northern California in mid-July 2025 amid exceptional heat and low humidity. Notable blazes included the Green and Butler fires, visible in images captured by the OLI (Operational Land Imager) on the Landsat 8 satellite on July 13.
    On July 1, lightning ignited the Green fire north of the Pit River arm of Shasta Lake. By the date Landsat acquired these images, the blaze had grown to 10,334 acres (4,182 hectares), according to the U.S. Forest Service. The wide view above shows smoke billowing south, contributing to unhealthy air quality around the lake and in communities along the Sacramento River from Redding to Anderson, according to the interagency air quality monitoring tool AirNow. The second image below shows a detailed view of the active fire area; bright orange indicates the infrared signature of actively burning fires.

    Meanwhile, approximately 120 kilometers (75 miles) to the northwest, the Butler fire was burning in the Six Rivers National Forest east of Orleans. When Landsat 8 captured this image (below) on July 13, the blaze had burned 7,203 acres, according to the U.S. Forest Service. Smoke plumes billowed toward the west over Orleans and had also wafted over regions east of the blaze. NASA’s TEMPO (Tropospheric Emissions: Monitoring of Pollution) sensor also observed nitrogen dioxide air pollution from the fire throughout the day.

    The weather conditions around the time of these images were favorable for fire, according to U.S. Forest Service reports, with temperatures climbing over 100 degrees Fahrenheit and humidity dropping below 20 percent. By mid-week, conditions improved somewhat as temperatures dropped below 100 degrees and humidity increased slightly.
    As of July 16, the fires had expanded to 15,438 acres (Green) and 9,191 acres (Butler) and were 13 percent and zero percent contained, respectively. Evacuation orders and warnings persisted in several zones in Shasta County near the Green fire and expanded to include several new zones, such as the area around Forks of Salmon, near the Butler fire.
    These fires and others can be tracked using NASA tools such as the Fire Information for Resource Management System (FIRMS), Worldview, and the Fire Events Explorer.
    NASA Earth Observatory images by Lauren Dauphin, using Landsat data from the U.S. Geological Survey. Story by Kathryn Hansen.

    MIL OSI USA News –

  • MIL-OSI USA: NASA’s Chandra Finds Baby Exoplanet is Shrinking

    Source: NASA

    A star is unleashing a barrage of X-rays that is causing a closely-orbiting, young planet to wither away an astonishing rate, according to a new study using data from NASA’s Chandra X-ray Observatory and described in our latest press release. A team of researchers has determined that this planet will go from the size of Jupiter down to a small, barren world.
    This graphic provides a visual representation of what astronomers think is happening around the star (known as TOI 1227) and a planet that is orbiting it at a fraction the distance between Mercury and the Sun. This “baby” planet, called TOI 1227 b, is just about 8 million years old, about a thousand times younger than our Sun. The main panel is an artist’s concept that shows the Jupiter-sized planet (lower left) around TOI 1227, which is a faint red star. Powerful X-rays from the star’s surface are tearing away the atmosphere of the planet, represented by the blue tail. The star’s X-rays may eventually completely remove the atmosphere.
    The team used new Chandra data — seen in the inset — to measure the amounts of X-rays from TOI 1227 that are striking the planet. Using computer models of the effects of these X-rays, they concluded they will have a transformative effect, rapidly stripping away the planet’s atmosphere. They estimate that the planet is losing a mass equivalent to a full Earth’s atmosphere about every 200 years.
    The researchers used different sets of data to estimate the age of TOI 1227 b. One method exploits measurements of how TOI 1227 b’s host star moves through space in comparison to nearby populations of stars with known ages. A second method compared the brightness and surface temperature of the star with theoretical models of evolving stars. The very young age of TOI 1227 b makes it the second youngest planet ever to be observed passing in front of its host star (a so-called transit). Previously the planet had been estimated by others to be about 11 million years old.
    Of all the exoplanets astronomers have found with ages less than 50 million years, TOI 1227 b stands out for having the longest year and the host planet with the lowest mass. These properties, and the high dose of X-rays it is receiving, make it an outstanding target for future observations.
    A paper describing these results has been accepted publication in The Astrophysical Journal and a preprint is available here. The authors of the paper are Attila Varga (Rochester Institute of Technology), Joel Kastner (Rochester Institute of Technology), Alexander Binks (University of Tubingen, Germany), Hans Moritz Guenther (Massachusetts Institute of Technology), and Simon J. Murphy (University of New South Wales Canberra in Australia).
    NASA’s Marshall Space Flight Center in Huntsville, Alabama, manages the Chandra program. The Smithsonian Astrophysical Observatory’s Chandra X-ray Center controls science operations from Cambridge, Massachusetts, and flight operations from Burlington, Massachusetts.

    Learn more about the Chandra X-ray Observatory and its mission here:

    chandra

    https://chandra.si.edu

    This release features an artist’s illustration of a Jupiter-sized planet closely orbiting a faint red star. An inset image, showing the star in X-ray light from Chandra, is superimposed on top of the illustration at our upper left corner.
    At our upper right, the red star is illustrated as a ball made of intense fire. The planet, slightly smaller than the star, is shown at our lower left. Powerful X-rays from the star are tearing away the atmosphere of the planet, causing wisps of material to flow away from the planet’s surface in the opposite direction from the star. This gives the planet a slight resemblance to a comet, complete with a tail.
    X-ray data from Chandra, presented in the inset image, shows the star as a small purple orb on a black background. Astronomers used the Chandra data to measure the amount of X-rays striking the planet from the star. They estimate that the planet is losing a mass equivalent to a full Earth’s atmosphere about every 200 years, causing it to ultimately shrink from the size of Jupiter down to a small, barren world.

    Megan WatzkeChandra X-ray CenterCambridge, Mass.617-496-7998mwatzke@cfa.harvard.edu
    Corinne BeckingerMarshall Space Flight Center, Huntsville, Alabama256-544-0034corinne.m.beckinger@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: NASA to Preview Advanced US-India Radar Mission Ahead of Launch

    Source: NASA

    NASA will host a news conference at 12 p.m. EDT Monday, July 21, to discuss the upcoming NISAR (NASA-ISRO Synthetic Aperture Radar) mission.
    The Earth-observing satellite, a first-of-its-kind collaboration between NASA and ISRO (Indian Space Research Organisation), carries an advanced radar system that will help protect communities by providing a dynamic, three-dimensional view of Earth in unprecedented detail and detecting the movement of land and ice surfaces down to the centimeter.
    The NISAR mission will lift off from ISRO’s Satish Dhawan Space Centre in Sriharikota, on India’s southeastern coast. Launch is targeted for no earlier than late July.
    NASA’s Jet Propulsion Laboratory in Southern California will stream the briefing live on its X, Facebook, and YouTube channels. Learn how to watch NASA content through a variety of platforms, including social media.
    Participants in the news conference include:

    Nicky Fox, associate administrator, Science Mission Directorate, NASA Headquarters
    Karen St. Germain, director, Earth Science Division, NASA Headquarters
    Wendy Edelstein, deputy project manager, NISAR, NASA JPL
    Paul Rosen, project scientist, NISAR, NASA JPL

    To ask questions by phone, members of the media must RSVP no later than two hours before the start of the event to: rexana.v.vizza@jpl.nasa.gov. NASA’s media accreditation policy is available online. Questions can be asked on social media during the briefing using #AskNISAR.
    With its two radar instruments — an S-band system provided by ISRO and an L-band system provided by NASA — NISAR will use a technique known as synthetic aperture radar (SAR) to scan nearly all the planet’s land and ice surfaces twice every 12 days. Each system’s signal is sensitive to different sizes of features on Earth’s surface, and each specializes in measuring different attributes, such as moisture content, surface roughness, and motion.
    These capabilities will help scientists better understand processes involved in natural hazards and catastrophic events, such as earthquakes, volcanic eruptions, land subsidence, and landslides.
    Additionally, NISAR’s cloud penetrating ability will aid urgent responses to communities during weather disasters such as hurricanes, storm surge, and flooding. The detailed maps the mission creates also will provide information on both gradual and sudden changes occurring on Earth’s land and ice surfaces.
    Managed by Caltech for NASA, JPL leads the U.S. component of the NISAR project and provided the L-band SAR. NASA JPL also provided the radar reflector antenna, the deployable boom, a high-rate communication subsystem for science data, GPS receivers, a solid-state recorder, and payload data subsystem. NASA’s Goddard Space Flight Center in Greenbelt, Maryland, manages the Near Space Network, which will receive NISAR’s L-band data.
    Multiple ISRO centers have contributed to NISAR. The Space Applications Centre is providing the mission’s S-band SAR. The U R Rao Satellite Centre provided the spacecraft bus. The rocket is from Vikram Sarabhai Space Centre, launch services are through Satish Dhawan Space Centre, and satellite mission operations are by the ISRO Telemetry Tracking and Command Network. The National Remote Sensing Centre is responsible for S-band data reception, operational products generation, and dissemination.
    To learn more about NISAR, visit:
    https://nisar.jpl.nasa.gov
    -end-
    Karen Fox / Elizabeth VlockHeadquarters, Washington202-358-1600karen.c.fox@nasa.gov / elizabeth.a.vlock@nasa.gov
    Andrew Wang / Scott HulmeJet Propulsion Laboratory, Pasadena, Calif.626-379-6874 / 818-653-9131andrew.wang@jpl.nasa.gov / scott.d.hulme@jpl.nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom calls on Trump to end Los Angeles militarization, shares community resources

    Source: US State of California 2

    Jul 16, 2025

    What you need to know: Governor Newsom visited local businesses in the Los Angeles area that have been impacted by the federal government’s indiscriminate immigration raids, called on Trump to end his deployment of soldiers, and shared new “know your rights” resources with the community.

    LOS ANGELES – Providing support to local communities impacted by federal immigration enforcement actions, Governor Gavin Newsom today met with business owners and faith leaders in the Los Angeles area.

    Enough is enough – Stephen Miller and Trump’s chaos campaign needs to end now. They are violating constitutional rights, terrorizing neighborhoods and businesses, and targeting people because of their skin color and the language they speak. These heartless and cruel actions have real consequences for our economy and society.

    Governor Gavin Newsom

    Visiting with community members

    Governor Newsom met with local restaurant owners of Cuernavaca’s Grill in the City of Bell to discuss the economic impact these indiscriminate immigration actions have had on their small business.

    The Governor then stopped by a church in Downey that recently was targeted by federal immigration agents. 

    Economic impact of this cruel policy

    Trump’s actions have a chilling effect – the state’s economy is likely to contract later this year due to fallout from global tariffs and immigration raids in Los Angeles and other cities that have rattled key sectors, including construction, hospitality, and agriculture, according to a UCLA Anderson forecast.

    Mass deportations in California could slash $275 billion from the state’s economy and eliminate $23 billion in annual tax revenue. The loss of immigrant labor would delay projects (including rebuilding Los Angeles after the wildfires), reduce food supply, and drive up costs.

    Undocumented immigrants contributed $8.5 billion in state and local taxes in 2022 — a number that would rise to $10.3 billion if these taxpayers could apply to work lawfully.

    New resource for community 

    Trump’s militarization of Los Angeles has also led to increasingly concerning tactics by federal immigration enforcement, including violating the law and people’s constitutional rights. Families are being terrorized by the broad enforcement efforts targeting Latino neighborhoods, harming U.S. citizens, and racially profiling families and workers. That’s why it’s important to remember the following if you are affected by a federal immigration action:

    • You can observe and record public immigration arrests, but stay calm and at a safe distance to avoid risk to yourself and others.
    • Do not interfere or argue with federal agents. Physical obstruction or verbal escalation can put your safety at risk and may lead to criminal charges.
    • Agents don’t need a judge-signed warrant to arrest someone in public — but do need one to enter non-public areas of private property.
    • Prepare yourself and your family in case you are arrested. Memorize the phone numbers of your family members and your lawyer. Make emergency plans if you have children or take medication. 

    For more information on helpful community resources, the Governor’s Office has released new factsheets here in English and here in Spanish.

    End the militarization of LA now

    For over a month, about 4,000 National Guard members have been serving as political pawns for the President in Los Angeles, pulled away from their families, communities, and civilian jobs. While half are just now beginning to demobilize, many remain without a clear mission, direction, or a timeline for returning to their communities. California urges Trump and the Department of Defense to end this theatrical deployment and send all remaining guardsmembers home immediately.

    The federal government can enforce immigration laws and keep us safe without violating our rights, terrorizing entire communities, breaking the law, disrupting the economy, and raising costs for families. 

    Recent news

    Jul 16, 2025

    News What you need to know: Residents impacted by the Eaton and Palisades fires have an opportunity to help directly shape the next steps of rebuilding their communities. The first phase of the engagement with fire survivors has led to a series of early actions guided…

    Jul 16, 2025

    News What you need to know: On July 17, the LGBTQ support option on the 988 Suicide & Crisis Lifeline will end thanks to the Trump administration – but California is stepping up and doubling down on life-saving support for young gay people in crisis.  LOS…

    Jul 16, 2025

    News LOS ANGELES COUNTY — Governor Gavin Newsom will hold a media availability to speak on the federal government’s demobilization of 2,000 National Guard members, as well as the effect of immigration raids on immigrant communities across California.WHEN: Wednesday,…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom invites LA Fire survivors to continue shaping rebuilding efforts through Engaged California

    Source: US State of California 2

    Jul 16, 2025

    What you need to know: Residents impacted by the Eaton and Palisades fires have an opportunity to help directly shape the next steps of rebuilding their communities. The first phase of the engagement with fire survivors has led to a series of early actions guided by residents’ input, including streamlined permitting technology for local communities.

    LOS ANGELES – Today, Governor Gavin Newsom is urging anyone who was affected by the LA fires in January to sign up for the Engaged California platform and use their voice to shape the rebuilding of their community. This call to action is for anyone who has lived or worked in, or was impacted by the evacuation zones in the path of the Eaton and Palisades fires.

    “Recovery isn’t something that happens to you, it happens with you. The feedback generated from the Engaged California process is reflective of residents’ experiences and is needed for leaders to understand their vision for rebuilding the future. Engaged California is designed to build trust and understanding of what actions need to be taken. I am very grateful to everyone who has participated so far. We are just getting started.”

    Governor Gavin Newsom

    After signing up, individuals affected by the evacuation zones will be invited to the program’s platform to share ideas on rebuilding Altadena and the Palisades, weighing choices that can guide recovery in both the short and long term.

    “Engaged California has given us valuable insight into how people are feeling in a moment of unimaginable tragedy,” said California Government Operations Secretary Nick Maduros. “This next step will be pivotal for us to listen and learn about how rebuilding should look according to those who experienced it firsthand.”

    You spoke. We listened.

    Engaged California was piloted as part of the administration’s response to the fire recovery, and nearly 8,000 people have signed up. It marks the first time California has used a dedicated, open digital tool to gather wildfire survivor input at this scale

    Launching in February, participants began to share comments as they prioritized topics for wildfire recovery from mid-March through May 16. Residents were asked to weigh in on 10 recovery topics, including housing and infrastructure, emotional well-being, and wildfire prevention.

    “This is a significant milestone in a brand-new program for the State of California,” said Office of Data and Innovation Director Jeffery Marino. “The voices of Californians impacted by the fires are being heard by their government and used to make data-driven decisions. This early action shows it is possible to have a two-way conversation between Californians and their government that results in meaningful, impactful outcomes.” 

    Early actions

    Here are a few examples of the early actions taken that deliver on what survivors said they need

    Provide clear and affordable rebuilding pathways

    Residents said they want an easier permit process and less red tape for rebuilding.

    ✅ Action taken: The state launched Archistar, a new artificial intelligence-driven software tool to aid Los Angeles City and County in accelerating the approval process for rebuilding permits. This week marked the beta launch of the new AI permitting tool made possible by a partnership between the state and philanthropic partners, including LA Rises. The tool aims to fast-track the approval process for rebuilding permits to help Angelenos get back into their homes following the Eaton and Palisades fires. 

    ✅ Action taken: Launched the CalAssist Mortgage Fund to assist homeowners whose homes were destroyed or left uninhabitable.

    Mental health

    Residents expressed a need for mental health support.

    ✅ Action taken: There are many resources available now on the ca.gov/lafires recovery website, including immediate assistance, ongoing support, and care for all age groups and language needs. Yesterday, the Governor also announced a new public outreach campaign with LA Rises, which will connect and support impacted Angelenos with key resources and share stories of community efforts to recover and rebuild for the long term in the aftermath of the Eaton and Palisades fires.

    Efficient, effective, and engaged

    Since the start of his administration in 2019, Governor Newsom has made efficiency and engagement a top priority, implementing new technologies and practices that make government more efficient and responsive to the people it serves. In 2019, the Governor established the Office of Data Innovation to help advance this important work and yesterday announced a new effort through the California Breakthrough Project —  which brings together innovators and leaders from the Golden State’s top tech companies to help guide this work

    As the birthplace of the tech industry, California is at the forefront in the study and implementation of AI in government. In 2023, Governor Newsom issued an executive order directing the state to utilize Generative AI technologies to improve state services and help solve important issues. Since that time, the state has integrated AI and other efficiency solutions to make state government work faster and even more effectively.

    Engaged California is a bold, new state program that elevates the voices of survivors through a digital platform. They opt in and share their thoughts while connecting with other people in their communities on topics that are important to them. The comments are anonymous and will remain anonymous. You can read all comments in full here.

    To get involved in the rebuilding conversation, visit engaged.ca.gov and sign up. 

    Press releases, Recent news

    Recent news

    Jul 16, 2025

    News What you need to know: On July 17, the LGBTQ support option on the 988 Suicide & Crisis Lifeline will end thanks to the Trump administration – but California is stepping up and doubling down on life-saving support for young gay people in crisis.  LOS…

    Jul 16, 2025

    News LOS ANGELES COUNTY — Governor Gavin Newsom will hold a media availability to speak on the federal government’s demobilization of 2,000 National Guard members, as well as the effect of immigration raids on immigrant communities across California.WHEN: Wednesday,…

    Jul 15, 2025

    News What you need to know: Productions filmed in California are raking in the nominations in this year’s Emmy bids.  SACRAMENTO –  Today, the nominees for the 77th Emmy Awards were announced, with California-based television productions securing at least 104…

    MIL OSI USA News –

  • Syria’s Sharaa vows to protect Druze rights as ceasefire holds

    Source: Government of India

    Source: Government of India (4)

    Syrian leader Ahmed al-Sharaa accused Israel of trying to fracture Syria and promised to protect its Druze minority on Thursday, after U.S. intervention helped end deadly fighting between government forces and Druze fighters in the south.

    Overnight, the Islamist-led government’s troops withdrew from the predominantly Druze city of Sweida, where scores of people have been killed in days of conflict.

    One local journalist said he’d counted more than 60 bodies in the streets of Sweida on Thursday morning. Ryan Marouf of Suwayda24 told Reuters he had found a family of 12 people killed in one house, including women and an elderly man. “People are looking for bodies,” he said in a voice recording.

    Violence in Syria escalated sharply on Wednesday as Israel launched airstrikes in Damascus,while also hitting government forces in the south, demanding they withdraw and saying Israel aimed to protect Syrian Druze -part of asmall but influential minority that also has followers in Lebanon and Israel.

    Israel, which bombed Syria frequently under the rule of ousted President Bashar al-Assad, has struck the country repeatedly this year, describing its new leaders as barely disguised jihadists and saying it will not allow them to deploy forces in areas of southern Syria near its border.

    Addressing Syrians on Thursday, interim President Sharaa accused Israel of seeking to “dismantle the unity of our people”, saying it had “consistently targeted our stability and created discord among us since the fall of the former regime”.

    Sharaa, who was commander of an al Qaeda faction before cutting ties with the group in 2016, said protecting Druze citizens and their rights was “our priority” and rejected any attempt to drag them into the hands of an “external party”.

    He also vowed to hold to account those who committed violations against “our Druze people”.

    The Syrian Network for Human Rights said it had documented 193 dead in four days of fighting, among them medical personnel, women and children.

    The Network’s head Fadel Abdulghany told Reuters the figure included cases of field executions by both sides, Syrians killed by Israeli strikes and others killed in clashes but that it would take time to break down the figures for each category.

    A Reuters reporter saw government fighters loot and burn homes during this week’s violence, including just before they departed Sweida overnight. Fighters also shaved off the moustaches of Druze men.

    Moustaches are worn by Druze sheikhs and many other Druze men as a symbol of religious and cultural identity with spiritual significance.

    U.S. Secretary of State Marco Rubio said late on Wednesday the United States had engaged all the parties involved and that steps had been agreed that would end “this troubling and horrifying situation”.

    Sharaa credited U.S. Arab and Turkish mediation for saving “the region from an uncertain fate”. A Turkish security source said Ankara played a crucial role in securing the ceasefire.

    The violence has underlined the challenges that Sharaa faces in stabilizing Syria and exerting centralised rule over the country, despite his warming ties with the United States and his administration’s evolving security contacts with Israel.

    Sharaa faces challenges to stitch Syria back together in the face of deep misgivings from groups that fear Islamist rule. In March, mass killings of members of the Alawite minority exacerbated the mistrust. The Druze follow a religion that is an offshoot of Islam.

    ISRAELI STRIKES

    Israel’s airstrikes on Wednesday blew up part of Syria’s defence ministry and hit near the presidential palace as it vowed to destroy government forces attacking Druze in southern Syria.

    “We will not allow southern Syria to become a terror stronghold,” said Eyal Zamir, Israel’s military chief of staff.

    The United Nations Security Council will meet on Thursday to address the conflict, diplomats said.

    “The council must condemn the barbaric crimes committed against innocent civilians on Syrian soil,” said Israel’s ambassador to the U.N., Danny Danon. “Israel will continue to act resolutely against any terrorist threat on its borders, anywhere and at any time.”

    Scores of Israeli Druze broke through the border fence on Wednesday, linking up with Druze on the Syrian side.

    Israeli Prime Minister Benjamin Netanyahu urged Israeli Druze citizens not to cross the border. The Israeli military said it was working to safely return civilians who had crossed.

    (Reuters)

  • South Korea lashed by heavy rain, four dead and more than 1,000 evacuated

    Source: Government of India

    Source: Government of India (4)

    Four people died and more than 1,000 have been evacuated in South Korea after the country was lashed by torrential rain on Thursday, the safety ministry said.

    A driver was killed after a 10-metre-high (33 ft) roadside wall collapsed on top of a moving vehicle on Wednesday in Osan, some 44 kilometres (27 miles) south of Seoul, fire agency officials said.

    Another person was found with no heartbeat in a flooded car in Seosan, South Chungcheong province, and could not be revived.

    As of 5 p.m. (0800 GMT), some parts of the South Chungcheong region further south of the capital had seen more than 400 millimetres (15.7 inches) of rain since Wednesday, the Ministry of the Interior and Safety said.

    The downpours resulted in record rainfall in the area and more wet weather was forecast for Thursday night, the Korea Meteorological Administration said.

    Landslide alerts were raised to the highest level for several regions including Chungcheong as the heavy rains continued, according to the Korea Forest Service.

    In the city of Gwangju, some 267 kilometres (166 miles) south of Seoul, 87 roads and 38 buildings were submerged within about two hours after torrential rain warnings were issued, according to the Yonhap News Agency.

    Some 403 schools were closed and 166 reported property damage from the heavy rain on Thursday, the Ministry of Education said.

    (Reuters)

  • MIL-OSI Security: Defense News in Brief: JBSA Airmen bring help, hope to flood-stricken Hill Country communities

    Source: United States Airforce

    Members of the 33rd Cyberspace Operations Squadron, 59th Medical Wing and 502d Air Base Wing assisted with flood relief operations in the Texas Hill Country, supporting efforts in the communities of Ingram and Hunt.

    INGRAM, Texas (AFNS) —  In a display of service and compassion, members of the 33rd Cyberspace Operations Squadron, 59th Medical Wing and 502nd Air Base Wing assisted on July 11 with flood relief operations in the Texas Hill Country, supporting efforts in the communities of Ingram and Hunt.

    One team assembled at City West Church in Kerrville, partnering with Mercy Chefs to organize and distribute hot meals. Three additional groups were dispatched to Hunt to assist with debris removal and participate in search and recovery operations in flood-damaged areas.

    “We partnered with Heroes for Humanity, the Mexican National Fire Department, and local rescue teams, including K-9 units, to help bring closure to families in the wake of this tragedy,” said Master Sgt. Nicholas Galbraith, 33rd Cyberspace Operations Squadron flight chief.

    “It was incredibly moving to see our Airmen volunteer their personal time to come out and serve. Efforts like this strengthen our bonds, not just within the unit, but with the community,” Galbraith said. “Our presence matters. We want these families to know they’re not alone, and that the Air Force is here for them, standing alongside them during their time of loss.”

    The response was part of a broader effort following the catastrophic flash floods that struck the Texas Hill Country on July 4-5. According to news reports, 130 people died, including 103 in Kerr County alone, with around 160 others still missing.

    At the direction of Galbraith, Joint Base San Antonio mobilized volunteers from across multiple units to assist in the recovery and support efforts.

    At City West Church, JBSA personnel partnered with Mercy Chefs, a nonprofit organization specializing in feeding disaster victims and first responders. The Airmen worked side by side with civilian volunteers to prep meals, organize donations, and provide emotional and spiritual care to anyone who needed it.

    “Mercy Chefs was founded nearly 20 years ago in the aftermath of Hurricane Katrina,” said Gary LeBlanc, CEO and founder of the organization. “We provide high-quality, chef-prepared meals to victims, volunteers and first responders, both across the country and around the world.”

    LeBlanc said his team had been vacationing and picnicking over the holiday when they saw the flooding and immediately mobilized.

    “We were able to deploy quickly and got our first meals out by Saturday night, most of which went directly to the rescue teams that had started responding on Friday,” LeBlanc said.

    The arrival of Air Force personnel on Friday provided a significant boost to their efforts.

    “When the Air Force came in today, it was a game changer,” LeBlanc said. “They were incredibly sharp, followed instructions, were proactive, and immediately integrated into the operation. It was an amazing lift for us. We prepared nearly 4,000 meals just today.”

    “We saw people truly struggling as they worked to recover and heal,” said Maj. Todd Leathermon, chaplain with the 59th Medical Wing. “There was a clear need, and this gave us a chance to use the skills we’ve gained both through Air Force training and our ministry experience before joining the military. Whether it’s providing spiritual and emotional support, helping prepare meals, or simply being present, we’re here to care for them.”

    Meanwhile, in Hunt, three JBSA-led teams entered flood-damaged zones to help clear debris and aid in search and recovery efforts.

    “I’ve always wanted to join special forces, and this is great experience for me as I plan to cross-train in that field,” said Staff Sgt. Roberto Castro, with the 426th Cyberspace Operations Squadron. “I’ve been through several hurricanes so I understand how devastating they can be. I just thought, why not help out where I can?”

    Though the tasks varied — from chopping vegetables to hauling debris — the heart behind the mission remained the same.

    Throughout the day, chaplains remained available to volunteers and locals, ready to offer a listening ear or a quiet moment of spiritual care.

    “It’s been incredible to see all levels of government come together from our local law enforcement, military members, and even our brethren from Mexican emergency services to help bring closure to families,” said Master Sgt. James Newcomb, superintendent of cyber support operations. “For me, it’s meaningful because this is my duty. As military members, it’s our job to give back to the community — to help, serve, protect, support and defend the American people.” 

    MIL Security OSI –

  • MIL-OSI United Kingdom: Villagers at flood risk in Pett receive new flood warning service

    Source: United Kingdom – Executive Government & Departments

    Press release

    Villagers at flood risk in Pett receive new flood warning service

    59 properties in Pett, in East Sussex, to benefit. Households urged to register for new, more targeted service.

    The Marsham Sewer, which will benefit from a new flood warning service.

    The Environment Agency has announced a new flood warning service to 59 householders in Pett for the Marsham Sewer, a drainage channel, or ditch, that flows eastwards through the parish.

    Pett is at risk of flooding from both the sea and the Marsham Sewer. The village has a flood warning service which covered the coastal risk, but not for the risk from the sewer.

    But a new flood warning service area has now been created by targeting groups of households where, during periods of flood-risk, the chances of flooding might be greater than the larger surrounding area. This will make the flood warnings they receive more targeted and enable the homeowners to take the steps they need to respond in good time. 

    Flood warnings tell people about an imminent risk of flooding to their home or business and helps people make informed decisions about how to respond. There are three types of warning – flood alert, flood warning and severe flood warning. Each warning type is triggered by particular weather, river or sea conditions which cause flooding.

    Householders are encouraged to prepare if they receive a flood alert, which could mean packing a bag that includes medicines, insurance documents and anything else they wouldn’t want to lose if flooding were to take place.

    A flood warning calls on people to act now which means turning off gas, water and electricity and moving family and pets to safety.

    A severe flood warning means you are in immediate danger and to follow advice from emergency services.

    Henry Bethell, Environment Agency flood resilience team leader for Kent, said:

    We know the devastating impact that flooding can have, which is why protecting people and communities is our top priority. However, the climate emergency means we cannot prevent all flooding – so we’re working to make communities resilient to future flooding.

    We want to ensure that everyone has as much time as possible to prepare for flooding, which is why we’re pleased that people in Pett will now be able to receive our free flood warning service for the Marsham Sewer.

    Home and business owners will be automatically enrolled to the flood warning service via their mobile network. However, to get the most benefit out of the service the Environment Agency is encouraging people to register directly with them by calling Floodline on 0345 988 1188, or visiting www.gov.uk/sign-up-for-flood-warnings where they can register preferred contact details. 

    Background:

    • 6.3 million properties in England are at risk of flooding.
    • With climate change projections, 8 million properties could be at risk of flooding by mid-century.
    • The average cost of flood damage to a home is £30,000.
    • The average cost of flooding to a business is £82,000.
    • If you are flooded, temporary accommodation costs on average £10,000.
    • If you are flooded you are likely to be out of your home for an average of 5 months.
    • Know what to do when you receive a flood warning and download a personal flood plan – www.gov.uk/guidance/flood-alerts-and-warnings-what-they-are-and-what-to-do.

    All Environment Agency news releases, both area and national, can be found under Announcements at www.gov.uk/government/organisations/environment-agency.

    Follow us on Twitter, now known as X: @envagencyse

    Contact us:

    Journalists only: 0800 141 2743 or communications_se@environment-agency.gov.uk.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Materials for the Government meeting on July 17, 2025.

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    The following issues are planned to be considered at the meeting:

    1. On the allocation of budgetary allocations to the Ministry of Industry and Trade of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of one-time financial assistance in the form of a subsidy from the federal budget to the budget of the Republic of Tatarstan

    The draft order is aimed at providing financial support for the implementation of the investment project “Complex for the production of large-tonnage LNG compressor units” in the single-industry town of Zelenodolsk.

    2. On the allocation of budgetary allocations to Rosaviatsia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing subsidies from the federal budget to Russian airports

    The draft order is aimed at partial reimbursement of expenses for ordinary activities and interest on credit agreements or loan agreements during the period of introduction of the temporary flight restriction regime to airports in the southern and central parts of Russia for December 2024 – June 2025.

    3. On the allocation of budgetary allocations to the Ministry of Transport of Russia in 2025 from the reserve fund of the Government of the Russian Federation within the framework of the state program of the Russian Federation “Development of the transport system”

    The funds are needed to implement the project “Construction of the Bagaevsky hydroelectric complex on the Don River. Objects of the 2nd stage (main period).”

    4. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing another inter-budget transfer from the federal budget to the budget of the Orenburg Region

    The draft order is aimed at reimbursing the regional budget for the costs incurred in financial support for the implementation of social support measures for citizens whose residential premises were lost and/or damaged as a result of the emergency caused by the spring floods of 2024.

    5. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of a subsidy from the federal budget within the framework of the federal project “Assistance to the development of infrastructure of the constituent entities of the Russian Federation (municipalities)” to the budget of the Saratov region for the purpose of implementing the project “Bank protection of the Volgograd reservoir on the section from the first berth to the solarium “Zaton” city of Saratov (stages 2, 3)”

    The adoption of the draft order will ensure the creation of a full-fledged coastal protection belt and the use of the embankment as a center of public and cultural activity in Saratov.

    6. On the allocation of budgetary appropriations from the reserve fund of the Government of the Russian Federation to the Ministry of Economic Development of Russia in 2025

    The draft order is aimed at providing the Federal Corporation for the Development of Small and Medium-Sized Entrepreneurship joint-stock company with a subsidy from the federal budget for the implementation of projects aimed at developing special economic zones and single-industry municipalities of the Russian Federation (single-industry towns).

    Moscow, July 16, 2025

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Government meeting (2025, No. 24).

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    1. On the allocation of budgetary allocations to the Ministry of Industry and Trade of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of one-time financial assistance in the form of a subsidy from the federal budget to the budget of the Republic of Tatarstan

    The draft order is aimed at providing financial support for the implementation of the investment project “Complex for the production of large-tonnage LNG compressor units” in the single-industry town of Zelenodolsk.

    2. On the allocation of budgetary allocations to Rosaviatsia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing subsidies from the federal budget to Russian airports

    The draft order is aimed at partial reimbursement of expenses for ordinary activities and interest on credit agreements or loan agreements during the period of introduction of the temporary flight restriction regime to airports in the southern and central parts of Russia for December 2024 – June 2025.

    3. On the allocation of budgetary allocations to the Ministry of Transport of Russia in 2025 from the reserve fund of the Government of the Russian Federation within the framework of the state program of the Russian Federation “Development of the transport system”

    The funds are needed to implement the project “Construction of the Bagaevsky hydroelectric complex on the Don River. Objects of the 2nd stage (main period).”

    4. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing another inter-budget transfer from the federal budget to the budget of the Orenburg Region

    The draft order is aimed at reimbursing the regional budget for the costs incurred in financial support for the implementation of social support measures for citizens whose residential premises were lost and/or damaged as a result of the emergency caused by the spring floods of 2024.

    5. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of a subsidy from the federal budget within the framework of the federal project “Assistance to the development of infrastructure of the constituent entities of the Russian Federation (municipalities)” to the budget of the Saratov region for the purpose of implementing the project “Bank protection of the Volgograd reservoir on the section from the first berth to the solarium “Zaton” city of Saratov (stages 2, 3)”

    The adoption of the draft order will ensure the creation of a full-fledged coastal protection belt and the use of the embankment as a center of public and cultural activity in Saratov.

    6. On the allocation of budgetary appropriations from the reserve fund of the Government of the Russian Federation to the Ministry of Economic Development of Russia in 2025

    The draft order is aimed at providing the Federal Corporation for the Development of Small and Medium-Sized Entrepreneurship joint-stock company with a subsidy from the federal budget for the implementation of projects aimed at developing special economic zones and single-industry municipalities of the Russian Federation (single-industry towns).

    Moscow, July 16, 2025

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

    MIL OSI Russia News –