NewzIntel.com

Category: Transport

  • MIL-OSI: Par Pacific, Mitsubishi, and ENEOS to Establish Joint Venture for Renewable Fuels in Hawaii

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON and TOKYO, July 21, 2025 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (including its subsidiaries and affiliates, “Par Pacific”), Mitsubishi Corporation (“Mitsubishi”), and ENEOS Corporation (“ENEOS”) today announced the signing of definitive agreements to establish Hawaii Renewables, LLC (“Hawaii Renewables”), a joint venture to produce renewable fuels at Par Pacific’s refinery in Kapolei Hawaii. Mitsubishi and ENEOS will form Alohi Renewable Energy, LLC, which will acquire a 36.5% equity stake in Hawaii Renewables in exchange for cash consideration of $100 million. Par Pacific will retain the remaining interest and lead the project’s execution and operations through its affiliate, Par Hawaii Refining, LLC. The project’s attractive capital cost, along with its operating and distribution cost advantages, are key differentiators.

    Hawaii Renewables will leverage Par Pacific’s existing refining and logistics infrastructure and Lutros, LLC’s new and advantaged pretreatment technology. Construction is currently underway, and the facility is expected to be completed and operational by the end of the year. Once fully operational, Hawaii Renewables will be the state’s largest renewable fuels manufacturing facility and is expected to produce approximately 61 million gallons per year of renewable diesel (“RD”), sustainable aviation fuel (“SAF”), renewable naphtha and low carbon liquified petroleum gases.

    The facility is designed to produce up to 60% SAF as a first step toward decarbonizing Hawaii’s significant air travel market, with flexibility to process diverse feedstocks and shift yields to RD based on market conditions. These renewable fuels will contribute to reducing greenhouse gas emissions while providing reliable transportation and utility fuels to Hawaii consumers.

    This strategic partnership will combine Par Pacific’s advantaged West Coast and Pacific asset base and operational capabilities with Mitsubishi’s global integrated business, including access to Mitsubishi’s Petro-Diamond Inc. Terminal in Long Beach, California and global feedstock procurement expertise. As Japan’s leading energy company, ENEOS will strengthen the partnership by leveraging its historical success in fuel refining and trading across Asia-Pacific and North America.

    “We are thrilled to partner with Mitsubishi and ENEOS through the formation of this strategic joint venture,” said Will Monteleone, Par Pacific’s President & Chief Executive Officer. “Creating the Hawaii Renewables joint venture brings together the best of our three organizations and yields additional scale and expertise across feedstock origination, commercial optimization, and market access throughout the Pacific Basin.”

    “We are so honored to partner with Par Pacific in the renewable fuels business,” said Masaru Saito, Group CEO, Environmental Energy Group, Mitsubishi Corporation. “We view this partnership as an important step for our SAF initiative, supporting aviation sector decarbonization across Hawaii and beyond through our feedstock procurement and renewable fuels sales expertise.”

    “We anticipate this project will deliver a stable supply of energy and contribute to a carbon-neutral society,” said Marcus Echigoya, Senior Vice President, Managing Executive Officer, ENEOS Corporation. “ENEOS aims to contribute to this initiative by utilizing our deep experience in fuel refining and marketing, with an emphasis on enhancing Hawaii Renewable’s feedstock procurement capabilities.”

    The closing of the joint venture transaction is subject to customary closing conditions and regulatory approvals. Lazard served as financial advisor to Par Pacific on this transaction.

    About Par Pacific
    Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. 

    About Mitsubishi Corporation
    Mitsubishi Corporation is a global integrated business enterprise that develops and operates business together with its offices and subsidiaries worldwide. MC has eight Business Groups that operate across virtually every industry: Environmental Energy, Material Solution, Mineral Resources, Urban Development and Infrastructure, Mobility, Food Industry, Smart-Life Creation, and Power Solution.

    About ENEOS Corporation
    ENEOS Group is Japan’s leading energy company with manufacturing and sales facilities throughout the world. ENEOS has developed businesses in the refining and marketing of petroleum products, petrochemical products, and lubricants. While fulfilling our responsibility of providing a stable supply of energy and materials both now and in the future, we will realize a carbon neutral society through energy transition. This is also a great challenge for mankind, and we, the ENEOS Group, will maximize our corporate value by steadily taking on the challenge.

    Forward-Looking Statements
    This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about Par Pacific’s plans to invest in renewable fuels production. There can be no assurances that Par Pacific will be successful in its renewable fuels production efforts, which are subject to various risks and uncertainties. We cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. We do not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. We further expressly disclaim any written or oral statements made by a third party regarding the subject matter of this news release.

    Par Pacific Contacts
    Investors:
    Ashimi Patel
    VP, Investor Relations & Sustainability
    +1 (832) 916-3355
    apatel@parpacific.com

    Media Inquiries:
    Marc Inouye
    Director, Government & Public Affairs
    +1 (808) 203-2344
    minouye@parpacific.com

    Mitsubishi Corporation Contacts
    Media Inquiries:
    Telephone: +81-3-3210-2171

    ENEOS Contacts
    Media Inquiries:
    pr@eneos.com

    The MIL Network –

  • MIL-Evening Report: A popular sweetener could be damaging your brain’s defences, says recent study

    Source: The Conversation (Au and NZ) – By Havovi Chichger, Professor, Biomedical Science, Anglia Ruskin University

    Found in everything from protein bars to energy drinks, erythritol has long been considered a safe alternative to sugar. But new research suggests this widely used sweetener may be quietly undermining one of the body’s most crucial protective barriers – with potentially serious consequences for heart health and stroke risk.

    A recent study from the University of Colorado suggests erythritol may damage cells in the blood-brain barrier, the brain’s security system that keeps out harmful substances while letting in nutrients. The findings add troubling new detail to previous observational studies that have linked erythritol consumption to increased rates of heart attack and stroke.

    In the new study, researchers exposed blood-brain barrier cells to levels of erythritol typically found after drinking a soft drink sweetened with the compound. They saw a chain reaction of cell damage that could make the brain more vulnerable to blood clots – a leading cause of stroke.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Erythritol triggered what scientists call oxidative stress, flooding cells with harmful, highly reactive molecules known as free radicals, while simultaneously reducing the body’s natural antioxidant defences. This double assault damaged the cells’ ability to function properly, and in some cases killed them outright.

    But perhaps more concerning was erythritol’s effect on the blood vessels’ ability to regulate blood flow. Healthy blood vessels act like traffic controllers, widening when organs need more blood – during exercise, for instance – and tightening when less is required. They achieve this delicate balance through two key molecules: nitric oxide, which relaxes blood vessels, and endothelin-1, which constricts them.

    The study found that erythritol disrupted this critical system, reducing nitric oxide production while ramping up endothelin-1. The result would be blood vessels that remain dangerously constricted, potentially starving the brain of oxygen and nutrients. This imbalance is a known warning sign of ischaemic stroke – the type caused by blood clots blocking vessels in the brain.

    Even more alarming, erythritol appeared to sabotage the body’s natural defence against blood clots. Normally, when clots form in blood vessels, cells release a “clot buster” called tissue plasminogen activator that dissolves the blockage before it can cause a stroke. But the sweetener blocked this protective mechanism, potentially leaving clots free to wreak havoc.

    The laboratory findings align with troubling evidence from human studies. Several large-scale observational studies have found that people who regularly consume erythritol face significantly higher risks of cardiovascular disease, including heart attacks and strokes. One major study tracking thousands of participants found that those with the highest blood levels of erythritol were roughly twice as likely to experience a major cardiac event.

    However, the research does have limitations. The experiments were conducted on isolated cells in laboratory dishes rather than complete blood vessels, which means the cells may not behave exactly as they would in the human body. Scientists acknowledge that more sophisticated testing – using advanced “blood vessel on a chip” systems that better mimic real physiology – will be needed to confirm these effects.

    The findings are particularly significant because erythritol occupies a unique position in the sweetener landscape. Unlike artificial sweeteners such as aspartame or sucralose, erythritol is technically a sugar alcohol – a naturally occurring compound that the body produces in small amounts. This classification helped it avoid inclusion in recent World Health Organization guidelines that discouraged the use of artificial sweeteners for weight control.

    Erythritol has also gained popularity among food manufacturers because it behaves more like sugar than other alternatives. While sucralose is 320 times sweeter than sugar, erythritol provides only about 80% of sugar’s sweetness, making it easier to use in recipes without creating an overpowering taste. It’s now found in thousands of products, especially in many “sugar-free” and “keto-friendly” foods.

    Erythritol can be found in many keto-friendly products, such a protein bars.
    Stockah/Shutterstock.com

    Trade-off

    Regulatory agencies, including the European Food Standards Agency and the US Food and Drug Administration, have approved erythritol as safe for consumption. But the new research adds to a growing body of evidence suggesting that even “natural” sugar alternatives may carry unexpected health risks.

    For consumers, the findings raise difficult questions about the trade-offs involved in sugar substitution. Sweeteners like erythritol can be valuable tools for weight management and diabetes prevention, helping people reduce calories and control blood sugar spikes. But if regular consumption potentially weakens the brain’s protective barriers and increases cardiovascular risk, the benefits may come at a significant cost.

    The research underscores a broader challenge in nutritional science: understanding the long-term effects of relatively new food additives that have become ubiquitous in the modern diet. While erythritol may help people avoid the immediate harms of excess sugar consumption, its effect on the blood-brain barrier suggests that frequent use could be quietly compromising brain protection over time.

    As scientists continue to investigate these concerning links, consumers may want to reconsider their relationship with this seemingly innocent sweetener – and perhaps question whether any sugar substitute additive is truly without risk.

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

    – ref. A popular sweetener could be damaging your brain’s defences, says recent study – https://theconversation.com/a-popular-sweetener-could-be-damaging-your-brains-defences-says-recent-study-261500

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Africa’s minerals are being bartered for security: why it’s a bad idea

    Source: The Conversation (Au and NZ) – By Hanri Mostert, SARChI Chair for Mineral Law in Africa, University of Cape Town

    A US-brokered peace deal between the Democratic Republic of Congo (DRC) and Rwanda binds the two African nations to a worrying arrangement: one where a country signs away its mineral resources to a superpower in return for opaque assurances of security.

    The peace deal, signed in June 2025, aims to end three decades of conflict between the DRC and Rwanda.

    A key part of the agreement binds both nations to developing a regional economic integration framework. This arrangement would expand cooperation between the two states, the US government and American investors on “transparent, formalized end-to-end mineral chains”.

    Despite its immense mineral wealth, the DRC is among the five poorest countries in the world. It has been seeking US investment in its mineral sector.

    The US has in turn touted a potential multi-billion-dollar investment programme to anchor its mineral supply chains in the traumatised and poor territory.

    The peace that the June 2025 deal promises, therefore, hinges on chaining mineral supply to the US in exchange for Washington’s powerful – but vaguely formulated – military oversight.

    The peace agreement further establishes a joint oversight committee – with representatives from the African Union, Qatar and the US – to receive complaints and resolve disputes between the DRC and Rwanda.

    But beyond the joint oversight committee, the peace deal creates no specific security obligations for the US.

    The relationship between the DRC and Rwanda has been marred by war and tension since the bloody First (1996-1997) and Second (1998-2003) Congo wars. At the heart of much of this conflict is the DRC’s mineral wealth. It has fuelled competition, exploitation and armed violence.

    This latest peace deal introduces a resources-for-security arrangement. Such deals aren’t new in Africa. They first emerged in the early 2000s as resources-for-infrastructure transactions. Here, a foreign state would agree to build economic and social infrastructure (roads, ports, airports, hospitals) in an African state. In exchange, it would get a major stake in a government-owned mining company. Or gain preferential access to the host country’s minerals.

    We have studied mineral law and governance in Africa for more than 20 years. The question that emerges now is whether a US-brokered resources-for-security agreement will help the DRC benefit from its resources.

    Based on our research on mining, development and sustainability, we believe this is unlikely.

    This is because resources-for-security is the latest version of a resource-bartering approach that China and Russia pioneered in countries such as Angola, the Central African Republic and the DRC.

    Resource bartering in Africa has eroded the sovereignty and bargaining power of mineral-rich nations such as the DRC and Angola.

    Further, resources-for-security deals are less transparent and more complicated than prior resource bartering agreements.

    DRC’s security gaps

    The DRC is endowed with major deposits of critical minerals like cobalt, copper, lithium, manganese and tantalum. These are the building blocks for 21st century technologies: artificial intelligence, electric vehicles, wind energy and military security hardware. Rwanda has less mineral wealth than its neighbour, but is the world’s third-largest producer of tantalum, used in electronics, aerospace and medical devices.

    For almost 30 years, minerals have fuelled conflict and severe violence, especially in eastern DRC. Tungsten, tantalum and gold (referred to as 3TG) finance and drive conflict as government forces and an estimated 130 armed groups vie for control over lucrative mining sites. Several reports and studies have implicated the DRC’s neighbours – Rwanda and Uganda – in supporting the illegal extraction of 3TG in this region.

    The DRC government has failed to extend security over its vast (2.3 million square kilometres) and diverse territory (109 million people, representing 250 ethnic groups). Limited resources, logistical challenges and corruption have weakened its armed forces.

    This context makes the United States’ military backing enormously attractive. But our research shows there are traps.

    What states risk losing

    Resources-for-infrastructure and resources-for-security deals generally offer African nations short-term stability, financing or global goodwill. However, the costs are often long-term because of an erosion of sovereign control.

    Here’s how this happens:

    Examples of loss or near-loss of sovereignty from these sorts of deals abound in Africa.

    For instance, Angola’s US$2 billion oil-backed loan from China Eximbank in 2004. This was repayable in monthly deliveries of oil, with revenues directed to Chinese-controlled accounts. The loan’s design deprived Angolan authorities of decision-making power over that income stream even before the oil was extracted.

    These deals also fragment accountability. They often span multiple ministries (such as defence, mining and trade), avoiding robust oversight or accountability. Fragmentation makes resource sectors vulnerable to elite capture. Powerful insiders can manipulate agreements for private gain.

    In the DRC, this has created a violent kleptocracy, where resource wealth is systematically diverted away from popular benefit.

    Finally, there is the risk of re-entrenching extractive trauma. Communities displaced for mining and environmental degradation in many countries across Africa illustrate the long-standing harm to livelihoods, health and social cohesion.

    These are not new problems. But where extraction is tied to security or infrastructure, such damage risks becoming permanent features, not temporary costs.

    What needs to change

    Critical minerals are “critical” because they’re hard to mine or substitute. Additionally, their supply chains are strategically vulnerable and politically exposed. Whoever controls these minerals controls the future. Africa must make sure it doesn’t trade that future away.

    In a world being reshaped by global interests in critical minerals, African states must not underestimate the strategic value of their mineral resources. They hold considerable leverage.

    But leverage only works if it is wielded strategically. This means:

    • investing in institutional strength and legal capacity to negotiate better deals

    • demanding local value creation and addition

    • requiring transparency and parliamentary oversight for minerals-related agreements

    • refusing deals that bypass human rights, environmental or sovereignty standards.

    Africa has the resources. It must hold on to the power they wield.

    Hanri Mostert receives funding from the National Research Foundation (NRF) of South Africa. She is a member of the Expropriation Expert Group and a steering committee member of the International Bar Association’s (IBA) Academic Advisory Group (AAG) in the Sector for Energy, Environmental, Resources and Infrastructure Law (SEERIL).

    Tracy-Lynn Field receives funding from the Claude Leon Foundation. She is a non-executive director of the Wildlife and Environment Society of South Africa.

    – ref. Africa’s minerals are being bartered for security: why it’s a bad idea – https://theconversation.com/africas-minerals-are-being-bartered-for-security-why-its-a-bad-idea-260594

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Could Rupert Murdoch bring down Donald Trump? A court case threatens more than just their relationship

    Source: The Conversation (Au and NZ) – By Andrew Dodd, Professor of Journalism, Director of the Centre for Advancing Journalism, The University of Melbourne

    If Rupert Murdoch becomes a white knight standing up to a rampantly bullying US president, the world has moved into the upside-down.

    This is, after all, the media mogul whose US television network, Fox News, actively supported Donald Trump’s Big Lie about the 2020 presidential election result and paid out a US$787 million (about A$1.2 billion) lawsuit for doing so.

    It is also the network that supplied several members of Trump’s inner circle, including former Fox host, now controversial Defense Secretary, Pete Hegseth.

    But that is where we are after Trump filed a writ on July 18 after Murdoch’s financial newspaper, The Wall Street Journal, published an article about a hand-drawn card Trump is alleged to have sent to sex offender Jeffrey Epstein in 2003. The newspaper reported:

    A pair of small arcs denotes the woman’s breasts, and the future president’s signature is a squiggly “Donald” below her waist, mimicking pubic hair.

    The Journal said it has seen the letter but did not republish it. The letter allegedly concluded:

    Happy Birthday – and may every day be another wonderful secret.

    The card was apparently Trump’s contribution to a birthday album compiled for Epstein by the latter’s partner Ghislaine Maxwell, who is serving a 20-year sentence after being found guilty of sex trafficking in 2021.

    Trump was furious. He told his Truth Social audience he had warned Murdoch the letter was fake. He wrote, “Mr Murdoch stated that he would take care of it but obviously did not have the power to do so,” referring to Murdoch handing leadership of News Corporation to his eldest son Lachlan in 2023.



    Read more:
    How Rupert Murdoch helped create a monster – the era of Trumpism – and then lost control of it

    Trump is being pincered. On one side, The Wall Street Journal is a respected newspaper that speaks to literate, wealthy Americans who remain deeply sceptical about Trump’s radical initiative on tariffs, which it described in an editorial as “the dumbest trade war in history”.

    On the other side is the conspiracy theory-thirsty MAGA base who have been told for years that there was a massive conspiracy around Epstein’s apparent suicide in 2019 that included the so-called deep state, Democrat elites and, no doubt, the Clintons.

    Trump, who loves pro wrestling as well as adopting its garish theatrics, might characterise his lawsuit against Murdoch as a smackdown to rival Hulk Hogan vs Andre the Giant in the 1980s.

    To adopt wrestling argot, though, it is a rare battle between two heels.

    A friendship of powerful convenience

    Murdoch and Trump’s relationship is longstanding but convoluted. The key to understanding it is that both men are ruthlessly transactional.

    Exposure in Murdoch’s New York Post in the 1980s and ‘90s was crucial to building Trump’s reputation.

    Not that Murdoch particularly likes Trump. Yes, Murdoch attended his second inauguration, albeit in a back row behind the newly favoured big tech media moguls. He was also seen sitting in the Oval Office a few days later looking quite at home.

    But this was pure power-display politics, not the behaviour of a friend.

    Murdoch joined Trump in the Oval Office in February 2025.
    Anna Moneymaker/Getty

    Remember Murdoch’s derision on hearing Trump was considering standing for office before the 2016 election, and his promotion of Ron De Santis in the primaries before Trump’s second term. Murdoch’s political hero has always been Ronald Reagan. Trump has laid waste to the Republican Party of Reagan.

    Murdoch knows what the rest of sane America knows: Trump is downright weird, if not dangerous. This, of course, only makes Murdoch’s complicity in Trump’s rise to power, and Fox News’ continued boosterism of Trump, all the more appalling.

    But, in keeping with Murdoch’s relationship to power throughout his career, what he helps make, he also helps destroy. Perhaps now it’s Trump’s turn to be unmade. As a former Murdoch lieutenant told The Financial Times over the weekend:

    he’s testing out: Is Trump losing his base? And where do I need to be to stay in the heart of the base?

    And here is Murdoch’s great advantage, and his looming threat.

    A double-edged sword

    The advantage comes with the scope of Murdoch’s media empire, which operates like a federation of different mastheads, each with their own market and aspirations. While Fox News panders to the MAGA base, and The New York Post juices its New York audience, The Wall Street Journal speaks, and listens, to business. Each audience has different needs, meaning they’re often presented with the same news in very different ways, or sometimes different news entirely.

    Like a federation, though, News Corp uses its various operations to drive the type of change that affects all its markets.

    It might work like this. The Wall Street Journal breaks a story that’s so shocking it begins to chip away at MAGA’s unquestioning loyalty of Trump. This process is, of course, willingly aided by the rest of the media. The resulting groundswell eventually allows Fox News and the Post to tentatively follow their audiences into questioning, and then perhaps criticising, Trump.

    Fox News audiences could slowly begin to question Trump, or abandon the network entirely.
    NurPhoto/Getty

    The threat is that before that groundswell builds, Murdoch is seriously vulnerable to criticism from a still dominant Trump, who can turn conspiracy-prone audiences away from Fox News with just a social media post. Trump has already been busy doing just that, saying he is looking forward to getting Murdoch onto the witness stand for his lawsuit.

    If the Fox audience decides it’s the proprietor who’s behind this denigration of Trump, they may decide to boycott their own favoured media channel, even though Fox’s programming hasn’t yet started questioning Trump.

    The Murdochs’ fear of audience backlash was a major factor in Fox’s promulgation of the Big Lie after Trump’s defeat in 2020. The fear their audience might defect to Newsmax or some other right-wing media outfit is just as real today.

    History littered with fakery

    We also need to consider that Trump might be right. What if the letter is a fake?

    Murdoch has form when it comes to high-profile exposés that turn out to be fiction. Who can forget the Hitler Diaries in 1983, which we now know Murdoch knew were fake before he published.

    Think also of the Pauline Hanson photos, allegedly of her posing in lingerie, all of which were quickly proved to be fake after they were published by Murdoch’s Australian tabloids in 2009.

    There was also The Sun’s despicable and wilfully wrong campaign against Elton John in 1987 and the same paper’s continued denigration of the people of Liverpool following the Hillsborough stadium disaster in 1989.

    But while Murdoch’s News Corp has a history of confection and fakery, the Wall Street Journal has a reputation for straight reportage, albeit through a conservative lens. Since Murdoch bought it in 2007, it has been engaged in its own internal battle for editorial standards.

    Media rolling over

    What Trump won’t get from Murdoch is the same acquiescence he’s enjoyed from America’s ABC and CBS networks, which have both handed over tens of millions of dollars in defamation settlements following dubious claims by Trump about the nature of their coverage.



    Read more:
    ABC’s and CBS’s settlements with Trump are a dangerous step toward the commander in chief becoming the editor-in-chief

    In December 2024, ABC’s owner Disney settled and agreed to pay US$15 million (A$23 million) to Trump’s presidential library. The president sued after a presenter said Trump was found guilty of raping E. Jean Carroll.

    Trump had actually been found guilty by a jury in a civil trial of sexually abusing and defaming Carroll and was ordered to pay her US$5 million (A$7.6 million).

    CBS’ parent company, Paramount, did similarly after being sued by the president, agreeing in early July to settle and pay US$16 million (A$24.5 million) to Trump’s library. This was despite earlier saying the case was “completely without merit”.

    Beware the legal microscope

    From Trump’s viewpoint, two prominent media companies have been cowed. But his campaign against critical media doesn’t stop there.

    Last week, congress passed a bill cancelling federal funding for the country’s two public-service media outlets, the Public Broadcasting Service (PBS) and National Public Radio (NPR).

    Also last week, CBS announced the cancellation of Stephen Colbert’s stridently critical comedy show, although CBS claims this is just a cost-cutting exercise and not about appeasing a bully in the White House.

    Presuming the reported birthday letter is real, Murdoch will not bend so easily. And that’s when it will be important to pay attention, because at some point Trump’s lawyers will advise him about the dangers of depositions and discovery: the legal processes that force parties to a dispute to reveal what they have and what they know.

    If the Epstein files do implicate Trump, the legal fight won’t last long and the media campaign against him will only intensify.

    Right now we have the spectre of Murdoch joining that other disaffected mogul, Elon Musk, in a moral crusade against Trump, the man they both helped make. The implications are head-spinning.

    As global bullies, the three of them probably deserve each other. But we, the public, surely deserve better than any of them.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Could Rupert Murdoch bring down Donald Trump? A court case threatens more than just their relationship – https://theconversation.com/could-rupert-murdoch-bring-down-donald-trump-a-court-case-threatens-more-than-just-their-relationship-261532

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Pharmac continues to engage with consumers

    Source: New Zealand Government

    Associate Education Minister David Seymour welcomes the establishment of Pharmac’s new consumer working group to help Pharmac help reset how it works with health consumers.

    “For many New Zealanders, funding for pharmaceuticals is life or death, or the difference between a life of pain and suffering or living freely,” Mr Seymour says.  

    “My expectation is that Pharmac should have good processes to ensure that people with an illness, their carers and family, can provide input to decision-making processes. This is part of the ACT-National Coalition Agreement. 

    “Pharmac hosted a Consumer Engagement Workshop in March. Patients and advocates voiced their hopes at resetting the patient – Pharmac relationship. Pharmac published a report on the findings from the workshop. 

    “The report recommended that the Board invite workshop participants, in association with the wider consumer-patient representative community, to select a working group. The group would work with Pharmac’s Board and management to reset the relationship between Pharmac and the consumer/representative community. 

    “The patient advocacy community selected Dr Malcolm Mulholland to lead the consumer working group. He has worked with consumers to select the other members of the working group. These members represent patients with a wide range of health conditions. They are named at the end of this release.”

    “We’ve waited a long time for this opportunity. The work that Pharmac does is vitally important for the health of patients and their families, and this is why getting Pharmac to work as well as it can, will be the focus of the working group,” Dr Mulholland says.

    “The consumer working group met for the first time yesterday to confirm the approach for the reset programme and agree the first set of actions. I look forward to hearing about their progress,” Mr Seymour says. 

    “I’m pleased to see the Board take the opportunity to continue to prioritise expanding opportunities and access for patients and their families by expanding access to more medicines for more groups. 

    “The working group reflects our commitment to a more adaptable and patient-centred approach. It follows my letters of expectations, the consumer engagement workshop, last year’s Medicines Summit, and the acceptance of Patient Voice Aotearoa’s White Paper as actions to achieve this. 

    “The Government is doing its part. Last year we allocated Pharmac its largest ever budget of $6.294 billion over four years, and a $604 million uplift to give Pharmac the financial support it needs to carry out its functions – negotiating the best deals for medicine for New Zealanders.” 

    The consumer working group members are:

    1. Dr Malcolm Mulholland MNZM – Patient Voice Aotearoa
    2. Libby Burgess MNZM – Breast Cancer Aotearoa Coalition
    3. Tim Edmonds – Leukaemia and Blood Cancer NZ
    4. Chris Higgins – Rare Disorders NZ
    5. Francesca Holloway – Arthritis NZ
    6. Trent Lash – Heartbeats Charitable Trust
    7. Gerard Rushton – The Meningitis Foundation
    8. Rachel Smalley MNZM – The Medicine Gap
    9. Tracy Tierney – Epilepsy NZ
    10. Deon York – Haemophilia NZ

    MIL OSI New Zealand News –

  • MIL-OSI USA: ICE Buffalo removes several violent criminal aliens from US

    Source: US Immigration and Customs Enforcement

    July 21, 2025Buffalo, NY, United StatesEnforcement and Removal

    BUFFALO, N.Y. — U.S. Immigration and Customs Enforcement Buffalo officers are on the streets every day, bravely executing the agency’s mission to locate, arrest and remove egregious criminal aliens from the United States in line with the president’s policy of “worst first.”

    “I’m extraordinarily proud of our officers who, despite a record increase in assaults against them, continue to selflessly dedicate themselves to protecting public safety and national security,” said ICE Enforcement and Removal Operations Buffalo acting Deputy Field Office Director James T. Bausch. “These violent criminals can no longer pose a threat to anyone in our country.”

    Between July 11 and July 17, ICE Buffalo removed the following criminal aliens with felony convictions and pending charges: 

    • Jesus Flores-Flores, a 49-year-old citizen of Mexico convicted of manslaughter, assault and criminal mischief.
    • Gerber Rosil-Galdamez, a 41-year-old citizen of Guatemala convicted of rape and sexual abuse.  
    • Ivan Fidencio Juarez-Rivera, a 42-year-old citizen of Mexico with convictions for domestic violence, assault, burglary, driving while intoxicated and illegal reentry.
    • Cristian Josue Pena-Contreras, a 21-year-old citizen of Honduras whose criminal history includes 13 convictions for receiving stolen property, larceny and larceny of a motor vehicle.
    • Jostin Javier Cabrera-Ruiz, an 18-year-old citizen of Ecuador whose criminal history includes pending charges for robbery, criminal mischief, criminal possession stolen property, possession of credit card, grand larceny, menacing, criminal possession of weapon and petit larceny.
    • Marlon Ganesh Beerbhajan, a 48-year-old citizen of Guyana pending charges for unlawful imprisonment and forcible touching.

    Learn more about ERO Buffalo’s mission to preserve public safety on X at @EROBuffalo.

    MIL OSI USA News –

  • MIL-OSI: Arizona Sonoran to Present at the Metals & Mining Virtual Investor Conference July 23

    Source: GlobeNewswire (MIL-OSI)

    CASA GRANDE, Ariz. and TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer, today announces that George Ogilvie, President, CEO and Director, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23, 2025.

    DATE: July 23
    TIME: 12:30 pm ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: July 28

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights:

    • Well-funded with recent C$57.6 million financings (June 20, 2025, July 10, 2025)
    • Advancing to PFS in 2025
    • Brownfield open pit project with significant in place infrastructure
    • Lower-risk copper cathode developer on private land in Arizona


    Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

    About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
    ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    For more information:
    Alison Dwoskin, Director, Investor Relations
    647-233-4348
    adwoskin@arizonasonoran.com

    George Ogilvie, President, CEO and Director
    416-723-0458
    gogilvie@arizonasonoran.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    Cautionary Statements regarding Forward-Looking Statements and Other Matters
    Forward-Looking Statements 
    All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and ” “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipated”, “become”, “believe”, “continuing”, “developer”, “emerging”, “forward”, “generational”, “long-term”, “looking”, “may”, “objective”, “ongoing”, “PEA”, “PFS”, “potential”, “pre-feasibility”, “preliminary”, “project”, “projected”, “proposes”, “provide”, “risk”, “study”, ”subject to”, and “will”, “or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect.  Forward-looking statements include those relating to the Company’s presentation at the Metals & Mining Virtual Investor Conference on July 23, 2025; the Company being well-funded, the ongoing pre-feasibility study (or PFS) in respect of the Cactus Project and the timing thereof); the 2024 PEA and results thereof (including risk, economic returns, operating costs, production, and proposal of a generational open pit copper mine); and the Company’s strategic and other objectives (including development of the Cactus Project, becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders, and any other continuing or future successes). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements.  The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the “2024 PEA Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) disclosed for the year ended December 31, 2024 and filed for quarter(s) already ended in 2025 (collectively, the “2024-25 Financial Disclosure”), and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company’s business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure, all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    Preliminary Economic Assessments
    The Preliminary Economic Assessment (or “2024 PEA”) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project’s potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company’s press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    The MIL Network –

  • MIL-OSI: Arizona Sonoran to Present at the Metals & Mining Virtual Investor Conference July 23

    Source: GlobeNewswire (MIL-OSI)

    CASA GRANDE, Ariz. and TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer, today announces that George Ogilvie, President, CEO and Director, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23, 2025.

    DATE: July 23
    TIME: 12:30 pm ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: July 28

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights:

    • Well-funded with recent C$57.6 million financings (June 20, 2025, July 10, 2025)
    • Advancing to PFS in 2025
    • Brownfield open pit project with significant in place infrastructure
    • Lower-risk copper cathode developer on private land in Arizona


    Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.

    About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com)
    ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    For more information:
    Alison Dwoskin, Director, Investor Relations
    647-233-4348
    adwoskin@arizonasonoran.com

    George Ogilvie, President, CEO and Director
    416-723-0458
    gogilvie@arizonasonoran.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    Cautionary Statements regarding Forward-Looking Statements and Other Matters
    Forward-Looking Statements 
    All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and ” “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipated”, “become”, “believe”, “continuing”, “developer”, “emerging”, “forward”, “generational”, “long-term”, “looking”, “may”, “objective”, “ongoing”, “PEA”, “PFS”, “potential”, “pre-feasibility”, “preliminary”, “project”, “projected”, “proposes”, “provide”, “risk”, “study”, ”subject to”, and “will”, “or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect.  Forward-looking statements include those relating to the Company’s presentation at the Metals & Mining Virtual Investor Conference on July 23, 2025; the Company being well-funded, the ongoing pre-feasibility study (or PFS) in respect of the Cactus Project and the timing thereof); the 2024 PEA and results thereof (including risk, economic returns, operating costs, production, and proposal of a generational open pit copper mine); and the Company’s strategic and other objectives (including development of the Cactus Project, becoming a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders, and any other continuing or future successes). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements.  The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the technical report for the Cactus Project filed on August 27, 2024 (the “2024 PEA Technical Report”), the Company’s Annual Information Form dated March 27, 2025 (the “AIF”), Management’s Discussion and Analysis (together with the accompanying financial statements) disclosed for the year ended December 31, 2024 and filed for quarter(s) already ended in 2025 (collectively, the “2024-25 Financial Disclosure”), and the Company’s other applicable public disclosure (collectively, “Company Disclosure”), all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the “Risk Factors” in the AIF, and the risks, uncertainties, contingencies and other factors identified in the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company’s business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure, all available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    Preliminary Economic Assessments
    The Preliminary Economic Assessment (or “2024 PEA”) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project’s potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company’s press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.

    The MIL Network –

  • MIL-OSI: ServisFirst Bancshares, Inc. Announces Results For Second Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    BIRMINGHAM, Ala., July 21, 2025 (GLOBE NEWSWIRE) — ServisFirst Bancshares, Inc. (NYSE: SFBS), today announced earnings and operating results for the quarter ended June 30, 2025.

    Second Quarter 2025 Highlights:

    • Diluted earnings per share of $1.12 for the quarter. Adjusted diluted earnings per share of $1.21, up 27% from the second quarter of 2024.
    • Net interest margin improved to 3.10% in the second quarter from 2.92% in the first quarter. Adjusted net interest margin was 3.06% in the second quarter.
    • Loans grew by $346 million, or 11% annualized, during the quarter.
    • Book value per share of $31.52, up 14% from the second quarter of 2024 and 16% annualized, from the first quarter of 2025.
    • Liquidity remains strong with $1.7 billion in cash and cash equivalent assets, 10% of our total assets, and no FHLB advances or brokered deposits.
    • Consolidated common equity tier 1 capital to risk-weighted assets increased from 10.93% to 11.38% year-over-year.
    • Return on average common stockholder’s equity of 14.56%. Adjusted return on average common stockholders’ equity increased from 14.08% to 15.63% year-over-year.

    Tom Broughton, Chairman, President, and CEO, said, “We were pleased with the loan growth in the quarter, combined with the improved environment for banks like ServisFirst.”

    David Sparacio, CFO, said, “The net interest margin continues to improve and we see continued asset repricing, which we believe will lead to higher net interest margins over the next 24 months”

    * This press release includes certain non-GAAP financial measures: adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted net interest margin, adjusted return on average assets, adjusted return on average common stockholders’ equity, adjusted efficiency ratio, tangible common stockholders’ equity, total tangible assets, tangible book value per share, and tangible common equity to total tangible assets. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”

    FINANCIAL SUMMARY (UNAUDITED)                                    
    (in Thousands except share and per share amounts)   Period Ending June 30, 2025   Period Ending March 31, 2025   % Change From Period Ending March 31, 2025 to Period Ending June 30, 2025   Period Ending June 30, 2024   % Change From Period Ending June 30, 2024 to Period Ending June 30, 2025
    QUARTERLY OPERATING RESULTS                                    
    Net Income   $ 61,424     $ 63,224     (2.8 )%   $ 52,136     17.8 %
    Net Income Available to Common Stockholders   $ 61,393     $ 63,224     (2.9 )%   $ 52,105     17.8 %
    Diluted Earnings Per Share   $ 1.12     $ 1.16     (3.4 )%   $ 0.95     17.9 %
    Return on Average Assets     1.40 %     1.45 %           1.34 %      
    Return on Average Common Stockholders’ Equity     14.56 %     15.63 %           14.08 %      
    Average Diluted Shares Outstanding     54,664,480       54,656,630             54,608,679        
                                         
    Adjusted Net Income, net of tax*   $ 66,133     $ 63,224     4.6 %   $ 52,136     26.8 %
    Adjusted Net Income Available to Common Stockholders, net of tax*   $ 66,102     $ 63,224     4.6 %   $ 52,105     26.9 %
    Adjusted Diluted Earnings Per Share, net of tax*   $ 1.21     $ 1.16     4.4 %   $ 0.95     27.5 %
    Adjusted Return on Average Assets, net of tax*     1.50 %     1.45 %           1.34 %      
    Adjusted Return on Average Common Stockholders’ Equity, net of tax*     15.68 %     15.63 %           14.08 %      
                                         
                                         
                                         
    YEAR-TO-DATE OPERATING RESULTS                                    
    Net Income   $ 124,648                   $ 102,162     22.0 %
    Net Income Available to Common Stockholders   $ 124,617                   $ 102,131     22.0 %
    Diluted Earnings Per Share   $ 2.28                   $ 1.87     21.9 %
    Return on Average Assets     1.42 %                   1.30 %      
    Return on Average Common Stockholders’ Equity     15.08 %                   13.96 %      
    Average Diluted Shares Outstanding     54,660,577                     54,602,032        
                                         
    Adjusted Net Income, net of tax*   $ 129,357                   $ 103,509     25.0 %
    Adjusted Net Income Available to Common Stockholders, net of tax*   $ 129,326                   $ 103,478     25.0 %
    Adjusted Diluted Earnings Per Share, net of tax*   $ 2.36                   $ 1.89        
    Adjusted Return on Average Assets, net of tax*     1.48 %                   1.31 %      
    Adjusted Return on Average Common Stockholders’ Equity, net of tax*     15.65 %                   14.15 %      
                                         
    BALANCE SHEET                                    
    Total Assets   $ 17,378,628     $ 18,636,766     (6.8 )%   $ 16,049,812     8.3 %
    Loans     13,232,560       12,886,831     2.7 %     12,332,780     7.3 %
    Non-interest-bearing Demand Deposits     2,632,058       2,647,577     (0.6 )%     2,475,415     6.3 %
    Total Deposits     13,862,319       14,429,061     (3.9 )%     13,259,392     4.5 %
    Stockholders’ Equity     1,721,783       1,668,900     3.2 %     1,510,576     14.0 %


    DETAILED FINANCIALS

    ServisFirst Bancshares, Inc. reported net income and net income available to common stockholders of $61.4 million for the quarter ended June 30, 2025, compared to net income and net income available to common stockholders of $63.2 million for the first quarter of 2025 and net income and net income available to common stockholders of $52.1 million for the second quarter of 2024. Basic and diluted earnings per common share were both $1.12 in the second quarter of 2025, compared to $1.16 for both in the first quarter of 2025 and $0.96 and $0.95, respectively, in the second quarter of 2024.

    Annualized return on average assets was 1.40% and annualized return on average common stockholders’ equity was 14.56% for the second quarter of 2025, compared to 1.34% and 14.08%, respectively, for the second quarter of 2024.

    Net interest income was $131.7 million for the second quarter of 2025, compared to $123.6 million for the first quarter of 2025 and $105.9 million for the second quarter of 2024. The net interest margin in the second quarter of 2025 was 3.10% compared to 2.92% in the first quarter of 2025 and 2.79% in the second quarter of 2024. Loan yields were 6.37% during the second quarter of 2025 compared to 6.28% during the first quarter of 2025 and 6.48% during the second quarter of 2024. Investment yields were 3.37% during the second quarter of 2025 compared to 3.31% during the first quarter of 2025 and 3.33% during the second quarter of 2024. Average interest-bearing deposit rates were 3.33% during the second quarter of 2025, compared to 3.40% during the first quarter of 2025 and 4.09% during the second quarter of 2024. During the quarter, we reversed a $2.3 million accrual related to a legal matter, which had been recorded in interest expense. Average federal funds purchased rates were 4.49% during the second quarter of 2025, compared to 4.50% during the first quarter of 2025 and 5.50% during the second quarter of 2024.

    Average loans for the second quarter of 2025 were $13.01 billion, an increase of $302.0 million, or 9.5% annualized, from average loans of $12.71 billion for the first quarter of 2025, and an increase of $947.1 million, or 7.9%, from average loans of $12.06 billion for the second quarter of 2024. Ending total loans for the second quarter of 2025 were $13.23 billion, an increase of $345.7 million, or 10.8% annualized, from $12.89 billion for the first quarter of 2025, and an increase of $899.8 million, or 7.3%, from $12.33 billion for the second quarter of 2024.

    Average total deposits for the second quarter of 2025 were $13.90 billion, an increase of $5.8 million, or 0.2% annualized, from average total deposits of $13.89 billion for the first quarter of 2025, and an increase of $1.03 billion, or 8.0%, from average total deposits of $12.86 billion for the second quarter of 2024. Ending total deposits for the second quarter of 2025 were $13.86 billion, a decrease of $566.7 million, or 15.8% annualized, from $14.43 billion for the first quarter of 2025, and an increase of $602.9 million, or 4.5%, from $13.26 billion for the second quarter of 2024.

    Non-performing assets to total assets were 0.42% for the second quarter of 2025, compared to 0.40% for the first quarter of 2025 and 0.23% for the second quarter of 2024. The majority of the year-over-year increase in non-performing assets was attributable to two relationships, both of which are secured by real estate. Annualized net charge-offs to average loans were 0.20% for the second quarter of 2025, compared to 0.19% for the first quarter of 2025 and 0.10% for the second quarter of 2024. During the second quarter of 2025, we charged off $4.9 million on a loan that had not been previously impaired. The allowance for credit losses as a percentage of total loans at June 30, 2025, March 31, 2025, and June 30, 2024, was 1.28%, 1.28%, and 1.28%, respectively. We recorded a $11.4 million provision for loan losses in the second quarter of 2025 compared to $6.5 million in the first quarter of 2025, and $5.4 million in the second quarter of 2024. Higher loan growth and increased net charge-offs during the second quarter of 2025 contributed to the increase in provision for loan losses.

    Non-interest income decreased $8.5 million, or 95.3%, to $421,000 for the second quarter of 2025 from $8.9 million in the second quarter of 2024, and decreased $7.9 million, or 94.9%, on a linked quarter basis. Service charges on deposit accounts increased $378,000, or 16.5%, to $2.7 million for the second quarter of 2025 from $2.3 million in the second quarter of 2024, and increased $113,000, or 4.4%, on a linked quarter basis. Mortgage banking revenue decreased $56,000, or 4.1%, to $1.3 million for the second quarter of 2025 from $1.4 million in the second quarter of 2024, and increased $710,000, or 115.8%, on a linked quarter basis. Net credit card income decreased $214,000, or 9.2%, to $2.1 million for the second quarter of 2025 from $2.3 million in the second quarter of 2024, and increased $151,000, or 7.7%, on a linked quarter basis. In the second quarter of 2025, we recognized an $8.6 million loss on the sale of available-for-sale debt securities as part of a portfolio restructuring. Bank-owned life insurance (“BOLI”) income increased $68,000, or 3.3%, to $2.1 million for the second quarter of 2025 from $2.1 million in the second quarter of 2024, and decreased $11,000, or 0.5%, on a linked quarter basis. Other operating income decreased $83,000, or 10.0%, to $745,000 for the second quarter of 2025 from $828,000 in the second quarter of 2024, and decreased $256,000, or 25.6%, on a linked quarter basis.

    Non-interest expense increased $1.4 million, or 3.2%, to $44.2 million for the second quarter of 2025 from $42.8 million in the second quarter of 2024, and decreased $1.9 million, or 4.1%, on a linked quarter basis. Salary and benefit expense decreased $1.6 million, or 6.8%, to $22.6 million for the second quarter of 2025 from $24.2 million in the second quarter of 2024, and decreased $303,000, or 1.3%, on a linked quarter basis. The number of full-time equivalent (“FTE”) employees increased by 34, or 5.44%, to 659 at June 30, 2025 compared to 625 at June 30, 2024, and increased by 23, or 3.61%, from the end of the first quarter of 2025. Equipment and occupancy expense decreased $44,000, or 1.2%, to $3.5 million for the second quarter of 2025 from $3.6 million in the second quarter of 2024, and decreased $199,000, or 5.3%, on a linked quarter basis. Third party processing and other services expense increased $540,000, or 7.2%, to $8.0 million for the second quarter of 2025 from $7.5 million in the second quarter of 2024, and increased $267,000, or 3.5%, on a linked quarter basis. Professional services expense increased $163,000, or 9.4%, to $1.9 million for the second quarter of 2025 from $1.7 million in the second quarter of 2024, and decreased $29,000, or 1.5%, on a linked quarter basis. FDIC and other regulatory assessments increased $551,000, or 25.0%, to $2.8 million for the second quarter of 2025 from $2.2 million in the second quarter of 2024, and decreased $101,000, or 3.5%, on a linked quarter basis. Other operating expenses increased $1.8 million, or 49.5%, to $5.4 million for the second quarter of 2025 from $3.6 million in the second quarter of 2024, and decreased $1.5 million, or 22.0%, on a linked quarter basis. The efficiency ratio was 33.46% during the second quarter of 2025 compared to 37.31% during the second quarter of 2024 and 34.97% during the first quarter of 2025. The adjusted efficiency ratio was 31.94% in the second quarter of 2025.

    Income tax expense increased $725,000, or 5.0%, to $15.2 million in the second quarter of 2025, compared to $14.5 million in the second quarter of 2024. Our effective tax rate was 19.82% for the second quarter of 2025 compared to 21.71% for the second quarter of 2024. We recognized a reduction in provision for income taxes resulting from excess tax benefits from the exercise and vesting of stock options and restricted stock during the second quarters of 2025 and 2024 of $2.1 million and $396,000, respectively.

    About ServisFirst Bancshares, Inc.

    ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank, ServisFirst Bancshares, Inc. provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, and Virginia. We also operate a loan production office in Florida. Through the ServisFirst Bank, we originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions.

    ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbancshares.com.

    Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. The words “believe,” “expect,” “anticipate,” “project,” “plan,” “intend,” “will,” “could,” “would,” “might” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst Bancshares, Inc., are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.’s senior management and involve risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including, but not limited to: general economic conditions, especially in the credit markets and in the Southeast; the impact of tariffs and trade wars on general economic conditions, the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes as a result of our reclassification as a large financial institution by the FDIC; changes in our loan portfolio and the deposit base; possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, the Federal Reserve policies in connection with continued or re-emerging inflationary pressures and the ability of the U.S. Congress to increase the U.S. statutory debt limit as needed; computer hacking or cyber-attacks resulting in unauthorized access to confidential or proprietary information; substantial, unexpected or prolonged changes in the level or cost of liquidity; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and the value of collateral; the effect of natural disasters, such as hurricanes and tornados, in our geographic markets; and increased competition from both banks and non-bank financial institutions. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-looking Statements” and “Risk Factors” in our most recent Annual Report on Form 10-K, in our Quarterly Reports on Form 10-Q for fiscal year 2025, and our other SEC filings. If one or more of the assumptions forming the basis of our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained herein. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. ServisFirst Bancshares, Inc. assumes no obligation to update or revise any forward-looking statements that are made from time to time.

    More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at www.servisfirstbancshares.com or by calling (205) 949-0302.

    Contact: ServisFirst Bank
    Davis Mange (205) 949-3420
    dmange@servisfirstbank.com

    SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)                                  
    (In thousands except share and per share data)                                        
        2nd Quarter 2025   1st Quarter 2025   4th Quarter 2024   3rd Quarter 2024   2nd Quarter 2024
    CONSOLIDATED STATEMENT OF INCOME                                        
    Interest income   $ 246,635     $ 241,096     $ 243,892     $ 247,979     $ 227,540  
    Interest expense     114,948       117,543       120,724       132,858       121,665  
    Net interest income     131,687       123,553       123,168       115,121       105,875  
    Provision for credit losses     11,296       6,630       5,704       5,659       5,353  
    Net interest income after provision for credit losses     120,391       116,923       117,464       109,462       100,522  
    Non-interest income     421       8,277       8,803       8,549       8,891  
    Non-interest expense     44,204       46,107       46,896       45,632       42,818  
    Income before income tax     76,608       79,093       79,371       72,379       66,595  
    Provision for income tax     15,184       15,869       14,198       12,472       14,459  
    Net income     61,424       63,224       65,173       59,907       52,136  
    Preferred stock dividends     31       –       31       –       31  
    Net income available to common stockholders   $ 61,393     $ 63,224     $ 65,142     $ 59,907     $ 52,105  
    Earnings per share – basic   $ 1.12     $ 1.16     $ 1.19     $ 1.10     $ 0.96  
    Earnings per share – diluted   $ 1.12     $ 1.16     $ 1.19     $ 1.10     $ 0.95  
    Average diluted shares outstanding     54,664,480       54,656,630       54,649,808       54,642,582       54,608,679  
                                             
    CONSOLIDATED BALANCE SHEET DATA                                        
    Total assets   $ 17,378,628     $ 18,636,766     $ 17,351,643     $ 16,449,178     $ 16,049,812  
    Loans     13,232,560       12,886,831       12,605,836       12,338,226       12,332,780  
    Debt securities     1,914,503       1,905,550       1,876,253       1,867,587       1,941,641  
    Non-interest-bearing demand deposits     2,632,058       2,647,577       2,619,687       2,576,329       2,475,415  
    Total deposits     13,862,319       14,429,061       13,543,459       13,146,529       13,259,392  
    Borrowings     64,747       64,745       64,743       64,741       64,739  
    Stockholders’ equity     1,721,783       1,668,900       1,616,772       1,570,269       1,510,576  
                                             
    Shares outstanding     54,618,545       54,601,217       54,569,427       54,551,543       54,521,479  
    Book value per share   $ 31.52     $ 30.57     $ 29.63     $ 28.79     $ 27.71  
    Tangible book value per share (1)   $ 31.27     $ 30.32     $ 29.38     $ 28.54     $ 27.46  
                                             
    SELECTED FINANCIAL RATIOS (Annualized)                                        
    Net interest margin     3.10 %     2.92 %     2.96 %     2.84 %     2.79 %
    Return on average assets     1.40 %     1.45 %     1.52 %     1.43 %     1.34 %
    Return on average common stockholders’ equity     14.56 %     15.63 %     16.29 %     15.55 %     14.08 %
    Efficiency ratio     33.46 %     34.97 %     35.54 %     36.90 %     37.31 %
    Non-interest expense to average earning assets     1.04 %     1.09 %     1.13 %     1.13 %     1.13 %
                                             
    CAPITAL RATIOS (2)                                        
    Common equity tier 1 capital to risk-weighted assets     11.38 %     11.48 %     11.42 %     11.25 %     10.93 %
    Tier 1 capital to risk-weighted assets     11.38 %     11.48 %     11.42 %     11.25 %     10.93 %
    Total capital to risk-weighted assets     12.81 %     12.93 %     12.90 %     12.77 %     12.43 %
    Tier 1 capital to average assets     9.78 %     9.48 %     9.59 %     9.54 %     9.81 %
    Tangible common equity to total tangible assets (1)     9.84 %     8.89 %     9.25 %     9.47 %     9.33 %
                                             
    (1) This press release contains certain non-GAAP financial measures. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”
    (2) Regulatory capital ratios for most recent period are preliminary.


    GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures

    This press release contains certain non-GAAP financial measures, including adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average common stockholders’ equity, and adjusted efficiency ratio. We recorded a one-time expense of $7.2 million in the fourth quarter of 2023 associated with the FDIC’s special assessment to recapitalize the Deposit Insurance Fund following bank failures in the spring of 2023. This assessment was updated in the first quarter of 2024 resulting in additional expense of $1.8 million. We recognized an $8.6 million loss on sale of available-for-sale debt securities in non-interest income during the second quarter of 2025 as a result of restructuring the portfolio. We reversed a $2.3 million legal reserve from interest expense during the second quarter of 2025. These adjustments to our results are unusual, or infrequent, in nature and are not considered to be part of our non-interest expense, non-interest income and interest expense run rates, respectively. Each of adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average common stockholders’ equity and adjusted efficiency ratio excludes the impact of these items, net of tax, and are all considered non-GAAP financial measures. This press release also contains the non-GAAP financial measures of tangible common stockholders’ equity, total tangible assets, tangible book value per share and tangible common equity to total tangible assets, each of which excludes goodwill associated with our acquisition of Metro Bancshares, Inc. in January 2015.

    We believe these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, we acknowledge that these non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies, including those in our industry, use. The following reconciliation table provides a more detailed analysis of the non-GAAP financial measures as of and for the comparative periods presented in this press release. Dollars are in thousands, except share and per share data.

        At June 30,
    2025    		   At March 31,
    2025    		   At December 31,
    2024    		   At September 30,
    2024    		   At June 30,
    2024
    Book value per share – GAAP   $ 31.52     $ 30.56     $ 29.63     $ 28.79     $ 27.71  
    Total common stockholders’ equity – GAAP     1,721,783       1,668,900       1,616,772       1,570,269       1,570,994  
    Adjustment for Goodwill     (13,615 )     (13,615 )     (13,615 )     (13,615 )     (13,615 )
    Tangible common stockholders’ equity – non-GAAP   $ 1,708,168     $ 1,655,285     $ 1,603,157     $ 1,556,654     $ 1,557,379  
    Tangible book value per share – non-GAAP   $ 31.27     $ 30.31     $ 29.38     $ 28.54     $ 27.46  
                                             
    Stockholders’ equity to total assets – GAAP     9.91 %     8.95 %     9.32 %     9.55 %     9.55 %
    Total assets – GAAP   $ 17,378,628     $ 18,636,766     $ 17,351,643     $ 16,449,178     $ 16,448,582  
    Adjustment for Goodwill     (13,615 )     (13,615 )     (13,615 )     (13,615 )     (13,615 )
    Total tangible assets – non-GAAP   $ 17,365,013     $ 18,623,151     $ 17,338,028     $ 16,435,563     $ 16,434,967  
    Tangible common equity to total tangible assets – non-GAAP     9.84 %     8.89 %     9.25 %     9.47 %     9.48 %
        Three Months Ended June 30, 2025   Three Months Ended March 31, 2025   Three Months Ended June 30, 2024   Six Months Ended June 30, 2025   Six Months Ended June 30, 2024
    Net income – GAAP   $ 61,424     $ 63,224     $ 52,136     $ 124,648     $ 102,162  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       1,799  
    Legal matter accrual reversal     (2,276 )     –       –       (2,276 )     –  
    Loss on marketable securities     8,563       –       –       8,563       –  
    Tax on adjustments     (1,578 )     –       –       (1,578 )     (452 )
    Adjusted net income – non-GAAP   $ 66,133     $ 63,224     $ 52,136     $ 129,357     $ 103,509  
                                       
    Net income available to common stockholders – GAAP   $ 61,393     $ 63,224     $ 52,105     $ 124,617     $ 102,131  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       1,799  
    Legal matter accrual reversal     (2,276 )     –       –       (2,276 )     –  
    Loss on marketable securities     8,563       –       –       8,563       –  
    Tax on adjustments     (1,578 )     –       –       (1,578 )     (452 )
    Adjusted net income available to common stockholders – non-GAAP   $ 66,102     $ 63,224     $ 52,105     $ 129,326     $ 103,478  
                                       
    Diluted earnings per share – GAAP   $ 1.12     $ 1.16     $ 0.95     $ 2.28     $ 1.87  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       0.03  
    Legal matter accrual reversal     (0.04 )     –       –       (0.05 )     –  
    Loss on marketable securities     0.16       –       –       0.16       –  
    Tax on adjustments     (0.03 )     –       –       (0.03 )     (0.01 )
    Adjusted diluted earnings per share – non-GAAP   $ 1.21     $ 1.16     $ 0.95     $ 2.36     $ 1.89  
                                       
    Net interest income, on a fully taxable-equivalent basis   $ 131,777                     $ 255,394        
    Adjustments:                                  
    Legal matter accrual reversal     (2,276 )                     (2,276 )      
    Tax on adjustments     571                       571        
    Adjusted net interest income, on a fully taxable-equivalent basis   $ 130,072                     $ 253,689        
                                       
    Net interest margin-GAAP     3.10 %                     3.01 %      
    Average earning assets     17,076,353                       17,132,710        
    Adjusted net interest margin-non-GAAP     3.06 %                     2.99 %      
                                       
    Return on average assets – GAAP     1.40 %     1.45 %     1.34 %     1.42 %     1.30 %
    Net income available to common stockholders – GAAP   $ 61,393     $ 63,224     $ 52,105     $ 124,617     $ 102,131  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       1,799  
    Legal matter accrual reversal     (2,276 )     –       –       (2,276 )     –  
    Loss on marketable securities     8,563       –       –       8,563       –  
    Tax on adjustments     (1,578 )     –       –       (1,578 )     (452 )
    Adjusted net income available to common stockholders – non-GAAP   $ 66,102     $ 63,224     $ 52,105     $ 129,326     $ 103,478  
    Average assets – GAAP   $ 17,626,503     $ 17,710,148     $ 15,697,538     $ 17,668,094     $ 15,827,894  
    Adjusted return on average assets – non-GAAP     1.50 %     1.45 %     1.34 %     1.48 %     1.31 %
                                       
    Return on average common stockholders’ equity – GAAP     14.56 %     15.63 %     14.08 %     15.08 %     13.96 %
    Net income available to common stockholders – GAAP   $ 61,393     $ 63,224     $ 52,105     $ 124,617     $ 102,131  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       1,799  
    Legal matter accrual reversal     (2,276 )     –       –       (2,276 )     –  
    Loss on marketable securities     8,563       –       –       8,563       –  
    Tax on adjustments     (1,578 )     –       –       (1,578 )     (452 )
    Adjusted net income available to common stockholders – non-GAAP   $ 66,102     $ 63,224     $ 52,105     $ 129,326     $ 103,478  
    Average common stockholders’ equity – GAAP   $ 1,690,855     $ 1,640,949     $ 1,488,429     $ 1,666,039     $ 1,471,048  
    Adjusted return on average common stockholders’ equity non-GAAP     15.68 %     15.63 %     14.08 %     15.65 %     14.15 %
                                       
    Efficiency ratio     33.46 %     34.97 %     37.31 %     34.22 %     39.42 %
    Net interest income – GAAP   $ 131,687     $ 123,553     $ 105,875     $ 255,240     $ 208,370  
    Adjustments:                                  
    Legal matter accrual reversal     (2,276 )     –       –       (2,276 )     –  
    Adjusted net interest income – non-GAAP   $ 129,411     $ 123,553     $ 105,875     $ 252,964     $ 208,370  
    Total non-interest income – GAAP     421       8,277       8,891       8,698       17,704  
    Adjustments:                                  
    Loss on marketable securities     8,563       –       –       8,563       –  
    Adjusted non-interest income – non-GAAP   $ 8,984     $ 8,277     $ 8,891     $ 17,261     $ 17,704  
    Adjusted net interest income and non-interest income – non-GAAP     138,395       131,830       114,766       270,225       226,074  
    Non-interest expense – GAAP   $ 44,204     $ 46,107     $ 42,818     $ 90,311     $ 89,121  
    Adjustments:                                  
    FDIC special assessment     –       –       –       –       1,799  
    Adjusted non-interest expense – non-GAAP   $ 44,204     $ 46,107     $ 42,818     $ 90,311     $ 87,322  
    Adjusted efficiency ratio – non-GAAP     31.94 %     34.97 %     37.31 %     33.42 %     38.63 %
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)                  
    (Dollars in thousands)                  
        June 30, 2025   June 30, 2024   % Change
    ASSETS                  
    Cash and due from banks   $ 140,659     $ 135,711     4 %
    Interest-bearing balances due from depository institutions     1,236,485       1,129,922     9 %
    Federal funds sold and securities purchased with agreement to resell     333,760       11,132     2,898 %
    Cash and cash equivalents     1,710,904       1,276,765     34 %
    Available for sale debt securities, at fair value     1,227,851       1,174,386     5 %
    Held to maturity debt securities (fair value of $639,455 and $785,270, respectively)     686,652       767,255     (11 )%
    Restricted equity securities     12,156       11,300     8 %
    Mortgage loans held for sale     22,131       11,174     98 %
    Loans     13,232,560       12,332,780     7 %
    Less allowance for credit losses     (169,959 )     (158,092 )   8 %
    Loans, net     13,062,601       12,174,688     7 %
    Premises and equipment, net     59,993       59,200     1 %
    Goodwill     13,615       13,615     – %
    Other assets     582,725       561,429     4 %
    Total assets   $ 17,378,628     $ 16,049,812     8 %
    LIABILITIES AND STOCKHOLDERS’ EQUITY                  
    Liabilities:                  
    Deposits:                  
    Non-interest-bearing demand   $ 2,632,058     $ 2,475,415     6 %
    Interest-bearing     11,230,261       10,783,977     4 %
    Total deposits     13,862,319       13,259,392     5 %
    Federal funds purchased     1,599,135       1,097,154     46 %
    Other borrowings     64,747       64,739     – %
    Other liabilities     130,644       117,951     11 %
    Total liabilities     15,656,845       14,539,236     8 %
    Stockholders’ equity:                  
    Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at June 30, 2025 and June 30, 2024     –       –     – %
    Common stock, par value $0.001 per share; 200,000,000 shares authorized; 54,618,545 shares issued and outstanding at June 30, 2025, and 54,521,479 shares issued and outstanding at June 30, 2024     54       54     – %
    Additional paid-in capital     236,716       234,495     1 %
    Retained earnings     1,500,767       1,322,048     14 %
    Accumulated other comprehensive loss     (16,254 )     (46,521 )   (65 )%
    Total stockholders’ equity attributable to ServisFirst Bancshares, Inc.     1,721,283       1,510,076     14 %
    Noncontrolling interest     500       500     – %
    Total stockholders’ equity     1,721,783       1,510,576     14 %
    Total liabilities and stockholders’ equity   $ 17,378,628     $ 16,049,812     8 %
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)                      
    (In thousands except per share data)                            
        Three Months Ended June 30,   Six Months Ended June 30,
        2025   2024   2025   2024
    Interest income:                            
    Interest and fees on loans   $ 206,521     $ 194,300     $ 403,457     $ 381,278  
    Taxable securities     16,562       16,158       32,585       32,137  
    Nontaxable securities     5       9       11       18  
    Federal funds sold and securities purchased with agreement to resell     1,592       538       1,612       1,079  
    Other interest and dividends     21,955       16,535       50,066       39,738  
    Total interest income     246,635       227,540       487,731       454,250  
    Interest expense:                            
    Deposits     93,488       104,671       188,233       208,737  
    Borrowed funds     21,460       16,994       44,258       37,143  
    Total interest expense     114,948       121,665       232,491       245,880  
    Net interest income     131,687       105,875       255,240       208,370  
    Provision for credit losses     11,296       5,353       17,926       9,721  
    Net interest income after provision for credit losses     120,391       100,522       237,314       198,649  
    Non-interest income:                            
    Service charges on deposit accounts     2,671       2,293       5,229       4,443  
    Mortgage banking     1,323       1,379       1,936       2,057  
    Credit card income     2,119       2,333       4,087       4,488  
    Securities losses     (8,563 )     –       (8,563 )     –  
    Bank-owned life insurance income     2,126       2,058       4,263       5,289  
    Other operating income     745       828       1,746       1,427  
    Total non-interest income     421       8,891       8,698       17,704  
    Non-interest expense:                            
    Salaries and employee benefits     22,576       24,213       45,455       47,199  
    Equipment and occupancy expense     3,523       3,567       7,245       7,124  
    Third party processing and other services     8,005       7,465       15,743       14,631  
    Professional services     1,904       1,741       3,837       3,205  
    FDIC and other regulatory assessments     2,753       2,202       5,607       6,107  
    Other real estate owned expense     27       7       60       37  
    Other operating expense     5,416       3,623       12,364       10,818  
    Total non-interest expense     44,204       42,818       90,311       89,121  
    Income before income tax     76,608       66,595       155,701       127,232  
    Provision for income tax     15,184       14,459       31,053       25,070  
    Net income     61,424       52,136       124,648       102,162  
    Dividends on preferred stock     31       31       31       31  
    Net income available to common stockholders   $ 61,393     $ 52,105     $ 124,617     $ 102,131  
    Basic earnings per common share   $ 1.12     $ 0.96     $ 2.28     $ 1.87  
    Diluted earnings per common share   $ 1.12     $ 0.95     $ 2.28     $ 1.87  
    LOANS BY TYPE (UNAUDITED)                                        
    (In thousands)                                        
                                             
        2nd quarter 2025   1st quarter 2025   4th quarter 2024   3rd quarter 2024   2nd quarter 2024
    Commercial, financial and agricultural   $ 2,952,028     $ 2,924,533     $ 2,869,894     $ 2,793,989     $ 2,935,577  
    Real estate – construction     1,735,405       1,599,410       1,489,306       1,439,648       1,510,677  
    Real estate – mortgage:                                        
    Owner-occupied commercial     2,557,711       2,543,819       2,547,143       2,441,687       2,399,644  
    1-4 family mortgage     1,561,461       1,494,189       1,444,623       1,409,981       1,350,428  
    Non-owner occupied commercial     4,338,697       4,259,566       4,181,243       4,190,935       4,072,007  
    Subtotal: Real estate – mortgage     8,457,869       8,297,574       8,173,009       8,042,603       7,822,079  
    Consumer     87,258       65,314       73,627       61,986       64,447  
    Total loans   $ 13,232,560     $ 12,886,831     $ 12,605,836     $ 12,338,226     $ 12,332,780  
    SUMMARY OF CREDIT LOSS EXPERIENCE (UNAUDITED)                                
    (Dollars in thousands)                                  
        2nd quarter 2025   1st quarter 2025   4th quarter 2024   3rd quarter 2024   2nd quarter 2024
    Allowance for credit losses:                                        
    Beginning balance   $ 165,034     $ 164,458     $ 160,755     $ 158,092     $ 155,892  
    Loans charged off:                                        
    Commercial, financial and agricultural     6,849       2,415       3,899       3,020       3,355  
    Real estate – construction     –       46       –       –       –  
    Real estate – mortgage     581       3,571       560       252       119  
    Consumer     72       60       211       155       108  
    Total charge offs     7,502       6,092       4,670       3,427       3,582  
    Recoveries:                                        
    Commercial, financial and agricultural     959       171       1,801       616       406  
    Real estate – construction     –       –       –       –       8  
    Real estate – mortgage     1       –       23       2       –  
    Consumer     58       27       151       37       15  
    Total recoveries     1,018       198       1,975       655       429  
    Net charge-offs     6,484       5,894       2,695       2,772       3,153  
    Provision for loan losses     11,409       6,470       6,398       5,435       5,353  
    Ending balance   $ 169,959     $ 165,034     $ 164,458     $ 160,755     $ 158,092  
                                             
    Allowance for credit losses to total loans     1.28 %     1.28 %     1.30 %     1.30 %     1.28 %
                                             
    Allowance for credit losses to total average loans     1.31 %     1.30 %     1.32 %     1.30 %     1.31 %
    Net charge-offs to total average loans     0.20 %     0.19 %     0.09 %     0.09 %     0.10 %
                                             
    Provision for credit losses to total average loans     0.35 %     0.21 %     0.21 %     0.17 %     0.18 %
    Nonperforming assets:                                        
    Nonaccrual loans   $ 68,619     $ 73,793     $ 39,501     $ 37,075     $ 33,454  
    Loans 90+ days past due and accruing     3,549       111       2,965       2,093       1,482  
    Other real estate owned and repossessed assets     311       756       2,531       2,723       1,458  
    Total   $ 72,479     $ 74,660     $ 44,997     $ 41,891     $ 36,394  
                                             
    Nonperforming loans to total loans     0.55 %     0.57 %     0.34 %     0.32 %     0.28 %
    Nonperforming assets to total assets     0.42 %     0.40 %     0.26 %     0.25 %     0.23 %
    Nonperforming assets to earning assets     0.43 %     0.41 %     0.26 %     0.26 %     0.23 %
    Allowance for credit losses to nonaccrual loans     247.69 %     223.64 %     416.34 %     433.59 %     472.57 %
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)                        
    (In thousands except per share data)                        
        2nd Quarter 2025   1st Quarter 2025   4th Quarter 2024   3rd Quarter 2024   2nd Quarter 2024
    Interest income:                                      
    Interest and fees on loans   $ 206,521     $ 196,936     $ 200,875     $ 205,952     $ 194,300  
    Taxable securities     16,562       16,023       16,905       17,493       16,158  
    Nontaxable securities     5       6       6       7       9  
    Federal funds sold with agreement to     1,592       20       18       31       538  
    Other interest and dividends     21,955       28,111       26,088       24,496       16,535  
    Total interest income     246,635       241,096       243,892       247,979       227,540  
    Interest expense:                                      
    Deposits     93,488       94,745       98,702       113,211       104,671  
    Borrowed funds     21,460       22,798       22,022       19,647       16,994  
    Total interest expense     114,948       117,543       120,724       132,858       121,665  
    Net interest income     131,687       123,553       123,168       115,121       105,875  
    Provision for credit losses     11,296       6,630       5,704       5,659       5,353  
    Net interest income after provision for credit losses     120,391       116,923       117,464       109,462       100,522  
    Non-interest income:                                      
    Service charges on deposit accounts     2,671       2,558       2,650       2,341       2,293  
    Mortgage banking     1,323       613       1,513       1,352       1,379  
    Credit card income     2,119       1,968       1,867       1,925       2,333  
    Securities losses     (8,563 )     –       –       –       –  
    Bank-owned life insurance income     2,126       2,137       2,131       2,113       2,058  
    Other operating income     745       1,001       642       818       828  
    Total non-interest income     421       8,277       8,803       8,549       8,891  
    Non-interest expense:                                      
    Salaries and employee benefits     22,576       22,879       24,062       25,057       24,213  
    Equipment and occupancy expense     3,523       3,722       3,600       3,795       3,567  
    Third party processing and other services     8,005       7,738       8,515       8,035       7,465  
    Professional services     1,904       1,933       1,981       1,715       1,741  
    FDIC and other regulatory assessments     2,753       2,854       2,225       2,355       2,202  
    Other real estate owned expense     27       33       58       103       7  
    Other operating expense     5,416       6,948       6,455       4,572       3,623  
    Total non-interest expense     44,204       46,107       46,896       45,632       42,818  
    Income before income tax     76,608       79,093       79,371       72,379       66,595  
    Provision for income tax     15,184       15,869       14,198       12,472       14,459  
    Net income     61,424       63,224       65,173       59,907       52,136  
    Dividends on preferred stock     31       –       31       –       31  
        Net income available to common
        stockholders    		   $ 61,393     $ 63,224     $ 65,142     $ 59,907     $ 52,105  
    Basic earnings per common share   $ 1.12     $ 1.16     $ 1.19     $ 1.10     $ 0.96  
    Diluted earnings per common share   $ 1.12     $ 1.16     $ 1.19     $ 1.10     $ 0.95  
    AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)
    ON A FULLY TAXABLE-EQUIVALENT BASIS
    (Dollars in thousands)
                                                                 
        2nd Quarter 2025   1st Quarter 2025   4th Quarter 2024   3rd Quarter 2024   2nd Quarter 2024
        Average Balance   Yield / Rate   Average Balance   Yield / Rate   Average Balance   Yield / Rate   Average Balance   Yield / Rate   Average Balance   Yield / Rate
    Assets:                                                            
    Interest-earning assets:                                                            
    Loans, net of unearned income (1)                                                            
    Taxable   $ 12,979,759     6.37 %   $ 12,683,077     6.29 %   $ 12,414,065     6.43 %   $ 12,351,073     6.63 %   $ 12,045,743     6.48 %
    Tax-exempt (2)     30,346     5.51       25,044     4.94       13,198     1.57       15,584     1.86       17,230     2.08  
    Total loans, net of unearned income     13,010,105     6.37       12,708,121     6.28       12,427,263     6.43       12,366,657     6.62       12,062,973     6.48  
    Mortgage loans held for sale     11,739     5.23       6,731     4.76       9,642     5.36       10,674     3.80       6,761     6.13  
    Debt securities:                                                            
    Taxable     1,965,089     3.37       1,934,739     3.31       1,932,547     3.49       1,955,632     3.57       1,936,818     3.33  
    Tax-exempt (2)     492     4.88       589     5.43       606     5.28       815     4.42       1,209     3.64  
    Total securities (3)     1,965,581     3.37       1,935,328     3.31       1,933,153     3.49       1,956,447     3.57       1,938,027     3.33  
    Federal funds sold and securities purchased with agreement to resell     124,303     5.14       1,670     4.86       1,596     4.49       2,106     5.86       38,475     5.62  
    Restricted equity securities     12,146     6.64       11,461     7.43       11,290     6.80       11,290     7.36       11,290     7.16  
    Interest-bearing balances with banks     1,952,479     4.47       2,526,382     4.48       2,143,474     4.81       1,775,192     5.46       1,183,482     5.57  
    Total interest-earning assets   $ 17,076,353     5.80 %   $ 17,189,693     5.69 %   $ 16,526,418     5.87 %   $ 16,122,366     6.12 %   $ 15,241,008     6.01 %
    Non-interest-earning assets:                                                            
    Cash and due from banks     109,506             108,540             103,494             103,539             96,646        
    Net premises and equipment     59,944             59,633             60,708             60,607             59,653        
    Allowance for credit losses, accrued interest and other assets     380,700             352,282             346,763             340,621             300,521        
    Total assets   $ 17,626,503           $ 17,710,148           $ 17,037,383           $ 16,627,133           $ 15,697,828        
                                                                 
    Interest-bearing liabilities:                                                            
    Interest-bearing deposits:                                                            
    Checking (4)   $ 2,222,000     1.78 %   $ 2,461,900     2.38 %   $ 2,353,439     2.61 %   $ 2,318,384     2.97 %   $ 2,227,527     2.85 %
    Savings     101,506     1.63       101,996     1.61       102,858     1.52       102,627     1.76       105,955     1.71  
    Money market     7,616,747     3.67       7,363,163     3.61       7,067,265     3.86       7,321,503     4.45       6,810,799     4.46  
    Time deposits     1,321,404     4.09       1,361,558     4.24       1,286,754     4.45       1,197,650     4.52       1,157,528     4.47  
    Total interest-bearing deposits     11,261,657     3.33       11,288,617     3.40       10,810,316     3.63       10,940,164     4.12       10,301,809     4.09  
    Federal funds purchased     1,855,860     4.49       1,994,766     4.50       1,767,749     4.80       1,391,118     5.42       1,193,190     5.50  
    Other borrowings     64,750     4.26       64,750     4.30       64,738     4.22       64,738     4.22       64,738     4.27  
    Total interest-bearing liabilities   $ 13,182,267     3.50 %   $ 13,348,133     3.57 %   $ 12,642,803     3.80 %   $ 12,396,020     4.26 %   $ 11,559,737     4.23 %
    Non-interest-bearing liabilities:                                                            
    Non-interest-bearing checking     2,633,552             2,600,775             2,672,875             2,575,575             2,560,245        
    Other liabilities     119,829             120,291             130,457             122,455             89,418        
    Stockholders’ equity     1,716,232             1,670,402             1,624,084             1,574,902             1,536,013        
    Accumulated other comprehensive loss     (25,377 )           (29,453 )           (32,836 )           (41,819 )           (47,584 )      
    Total liabilities and stockholders’ equity   $ 17,626,503           $ 17,710,148           $ 17,037,383           $ 16,627,133           $ 15,697,828        
    Net interest spread         2.30 %         2.12 %         2.07 %         1.86 %         1.78 %
    Net interest margin         3.10 %         2.92 %         2.96 %         2.84 %         2.79 %
                                                                 
    (1) Average loans include nonaccrual loans in all periods. Loan fees of $4,430, $3,764, $4,460, $3,949, and $3,317 are included in interest income in the second quarter of 2025, first quarter of 2025, fourth quarter of 2024, third quarter of 2024, and second quarter of 2024, respectively.
    (2) Interest income and yields are presented on a fully taxable equivalent basis using a tax rate of 21%.
    (3) Unrealized losses on debt securities of $(36,381), $(41,970), $(46,652), $(58,802), and $(66,663) for the second quarter of 2025, first quarter of 2025, fourth quarter of 2024, third quarter of 2024, and second quarter of 2024, respectively, are excluded from the yield calculation.
    (4) Includes impact of reversal of a $2.3 million accrual related to a legal matter. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”

    The MIL Network –

  • MIL-OSI: Tactile Medical to Release Second Quarter of Fiscal Year 2025 Financial Results on August 4, 2025

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, July 21, 2025 (GLOBE NEWSWIRE) — Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that second quarter of fiscal year 2025 financial results will be released after the market closes on Monday, August 4, 2025.

    Management will host a conference call with a question and answer session at 5:00 p.m. Eastern Time on August 4, 2025, to discuss the results of the quarter. Those who would like to participate may dial 877-407-3088 (201-389-0927 for international callers) and provide access code 13754589. A live webcast of the call will also be provided on the investor relations section of the Company’s website at investors.tactilemedical.com.

    For those unable to participate, a replay of the call will be available for two weeks at 877-660-6853 (201-612-7415 for international callers); access code 13754589. The webcast will be archived at investors.tactilemedical.com.

    About Tactile Systems Technology, Inc. (DBA Tactile Medical)

    Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease by helping them live better and care for themselves at home. Tactile Medical collaborates with clinicians to expand clinical evidence, raise awareness, increase access to care, reduce overall healthcare costs and improve the quality of life for tens of thousands of patients each year.

    Investor Inquiries:
    Sam Bentzinger
    Gilmartin Group
    investorrelations@tactilemedical.com

    The MIL Network –

  • MIL-OSI: CarGurus To Report Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 21, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the quarter ended June 30, 2025, after the close of the market on August 7, 2025.

    CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on August 7, 2025. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at https://investors.cargurus.com.

    An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on August 7, 2025, until 11:59 p.m. Eastern Time on August 21, 2025, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13754096. In addition, an archived webcast will be available on the Investors section of the company’s website at https://investors.cargurus.com.

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1

    In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.

    Investor Contact:
    Kirndeep Singh
    Vice President, Head of Investor Relations
    investors@cargurus.com

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    The MIL Network –

  • MIL-OSI: CarGurus To Report Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 21, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the quarter ended June 30, 2025, after the close of the market on August 7, 2025.

    CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on August 7, 2025. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at https://investors.cargurus.com.

    An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on August 7, 2025, until 11:59 p.m. Eastern Time on August 21, 2025, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13754096. In addition, an archived webcast will be available on the Investors section of the company’s website at https://investors.cargurus.com.

    About CarGurus, Inc.

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.1

    In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners.

    1Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.

    Investor Contact:
    Kirndeep Singh
    Vice President, Head of Investor Relations
    investors@cargurus.com

    Media Contact:
    Maggie Meluzio
    Director, Public Relations & External Communications
    pr@cargurus.com

    The MIL Network –

  • MIL-OSI Canada: Tribunal Terminates Inquiry—Corrosion-resistant Steel Sheet from Türkiye

    Source: Government of Canada News

    Ottawa, Ontario, July 21, 2025—The Canadian International Trade Tribunal today terminated its final injury inquiry to determine whether the dumping of corrosion-resistant steel sheet, originating in or exported from the Republic of Türkiye, by Borçelik Çelik Sanayi Ticaret, has injured Canadian producers. The Tribunal’s inquiry was required by law as a result of the initiation of a dumping investigation by the Canada Border Services Agency (CBSA).

    On July 16, 2025, the CBSA determined that there had been no dumping and terminated its dumping investigation. Therefore, the Tribunal will not continue its final injury inquiry.

    The Tribunal is an independent quasi-judicial body that reports to Parliament through the Minister of Finance. It hears cases on dumped and subsidized imports, safeguard complaints, complaints about federal government procurement and appeals of customs and excise tax rulings. When requested by the federal government, the Tribunal also provides advice on other economic, trade and tariff matters.

    MIL OSI Canada News –

  • MIL-OSI USA: ICMYI: Estes Joins Washington Watch with Tony Perkins

    Source: United States House of Representatives – Congressman Ron Estes (R-Kansas)

    U.S. Congressman Ron Estes (R-Kansas) joined Washington Watch with Tony Perkins with guest host Jody Hice to discuss the rescissions package, federal spending and provisions within the One Big, Beautiful Bill that will help Kansans and Americans, and more. Watch the interview on YouTube.

    On the rescissions package:

    “Obviously there’s a lot of work we need to do. One out of five dollars that the government spends is borrowed, so we’ve got a lot of things we need to look at. As you said, the rescissions package here was the first time in decades that a president has requested that discretionary spending be pulled back. That, ‘Hey, we don’t need to spend everything that was appropriated a year or longer ago, and focus on specific areas.’

    “If you look through what’s in that rescissions package, the things that we were particularly pulling out, things like funding for NPR. They wanted to fund drag queen programs for children and programs talking about animals need to have their own pronouns … PBS had programs talking about white privilege. 

    “We all heard earlier this year all of the horror stories coming out of USAID in terms of the money that was being wasted around the world. Things like $3 million for electric vehicles in Vietnam and $70,000 for a Diversity, Equity, and Inclusion musical in Ireland. I don’t know why Ireland would want to have a DEI musical, but, if they do, the Irish taxpayers ought to pay for it and not American taxpayers. 

    “It’s great to do this rescissions package. [I was] glad to hear Speaker Johnson reiterate today that we need to be doing more of this as we look at all of the discretionary spending that comes out of the federal government, and what do we do going forward. We’ve got a lot of work to do, not just on a discretionary side with rescissions, but obviously some of those automatic spending programs as well.”

    On other areas of the federal government that may be right for rescissions:

    “When we look across the discretionary course, the spending has grown so great since before Covid. If you look at going back to I believe 2019, our tax revenue has gone up. It’s gone up 46% or so, so we’ve got a lot more tax revenue coming in after we passed the Tax Cuts and Jobs Act in 2017. 

    “What we’ve seen is spending’s gone up 70%. Some of that was temporary spending, or should have been temporary spending in Covid, but now it’s gotten baked in and it’s continued on grant programs and other areas across multiple programs. We’ve got so many programs at the federal level that are redundant. You may have four or five different programs in two or three different agencies that are designed to target the same issue. So we’ve got lots of areas to look at that. 

    “DOGE did a great effort earlier this year in identifying some of those areas, but we need to have a constant look at that in terms of where do we spend money, where should we be spending money, and does it make sense to spend dollars at this point, particularly when we’re borrowing one out of five dollars that’s being spent.”

    On the tone of Democrats’ messaging to their voter base:

    “[Democrats] really are [tone deaf.] They don’t have a positive message. They don’t have something that they want America to be for. Basically the Democrat party has become a party of socialists. They’re looking at, ‘How can they make the government spend and dictate what other people do?’ 

    “For example, we look at the One Big, Beautiful Bill, I could talk about so many great provisions there. But their message out of the One Big, Beautiful Bill, that they oppose, is because they wanted to make sure that illegal immigrants got Medicaid. They wanted to make sure that people didn’t have to work at all for the Medicaid dollars that would be given to them to provide for their healthcare, [for] even as little as 20 hours a week, working in a job or getting an education or even in a volunteer role. And so, as they get more strident trying to talk against commonsense things, the American public is turning against them. 

    “When you look at the polling data that’s out there right now, of all Americans, [there is] 72% opposition to Democrats and the positions they’re taking in Congress. Even among Democrats, there’s a majority, 52% of Democrats are not happy that Democrats in Congress are not doing what should be done for America.”

    On Congressman Estes’ op-ed on the One Big, Beautiful Bill:

    “We talk a lot about the One Big, Beautiful Bill. There’s just so much positive things in there. A lot of it was centered around the tax provisions that we needed to extend after 2017, that were going to expire this year, and the results of provisions around border security and defense. But if you really peel some of the layers back and look at some of the details, there’s a whole lot of pro-family and pro-life provisions in there. 

    “What we really wanted to do is make sure that, for example, Medicaid funding was used not by Planned Parenthood to provide abortions. I mean we should have Medicaid to actually help people preserve and protect life and not end it. We wanted to make sure that families could raise their children … So we focused on increasing the Child Tax Credit for families and indexing it for inflation. We increased a tax credit for adoption for people to adopt families. That’s so important now when we see the birth rate dropping down to 11.7% per thousand. We need to have a continual growth in population to make sure that America continues to grow. 

    “You look at provisions like employer-funded childcare provisions. We wanted to make sure those were available. Permanent family and medical leave to help people who maybe have a temporary illness or an issue with their family. We wanted to make sure after these disastrous years of Bidenflation that people were able to raise their families and have the income to provide for their family.”

    MIL OSI USA News –

  • MIL-OSI USA: Huffman Demands Answers from President Trump Over Mishandling of Grand Canyon Wildfire

    Source: United States House of Representatives – Congressman Jared Huffman Representing the 2nd District of California

    Huffman also calls for independent investigation, accountability over catastrophic wildfire response

    July 21, 2025

    Washington, D.C. – Today, Natural Resources Ranking Member Jared Huffman (D-Calif.) wrote to President Trump demanding answers on the catastrophic federal response to the Dragon Bravo Fire, which has torn through the North Rim of Grand Canyon National Park. 

    The blaze, which ignited on July 4, was allowed to burn under “managed fire” protocols for days despite record-high heat, extreme drought, and volatile conditions — ultimately destroying the historic Grand Canyon Lodge and other irreplaceable park infrastructure. 

    In a letter sent to President Trump today, Huffman made clear that the consequences of this failure fall squarely on the President and his top officials.

    “As you have insisted in many, many other cases, the ultimate responsibility for policy decisions lies with you and your appointees, not with career civil servants,” Huffman wrote. “Yet incredibly, we have not heard anything from you, or from Secretaries Burgum and Rollins about this massive fire and the destruction it has wrought [on] one of America’s most iconic national parks.”

    Huffman pointed to the administration’s top-down proposal to consolidate all federal wildfire response under the Department of the Interior as a cause for alarm.

    He wrote: “While managed fire practices are a necessary tool in many circumstances… it appears they were clearly the wrong approach in this case given the exceptionally hot, dry, and volatile conditions on the ground.”

    In the letter, Huffman calls for detailed documentation and internal communications related to the fire, as well as answers to five key questions about when federal leadership was notified, how frequently they were updated, and whether firefighting resources were requested or withheld.

    “Rebuilding infrastructure at the North Rim will take years and cost hundreds of millions of dollars. There is a clear need to examine the decision-making process to understand how this was allowed to happen.”

    Huffman also sent a letter to the Office of Inspector General of the Interior and Agriculture Departments urging an independent investigation into the administration’s failure. He raised concerns about political interference and called for a full accounting of who knew what, when — and why the fire was allowed to burn in such a high-risk environment.

    Ranking Member Huffman requested a full response from the administration by Monday, August 4, 2025.

    Read the full letter to the President here.

    Read the full letter to the OIG here.

    ###

    Previous Article

    MIL OSI USA News –

  • MIL-OSI USA: ICE Rio Grande Valley investigation results in the sentencing of convicted human smuggler for possessing images of sexual assaults of young children

    Source: US Immigration and Customs Enforcement

    McALLEN, Texas — A south Texas man was sentenced to 20 years for possessing images of sexual assaults of prepubescent children following an investigation conducted by U.S. Immigration and Customs Enforcement Homeland Security Investigations Rio Grande Valley Child Exploitation Task Force with assistance from U.S. Border Patrol, Raymondville Police Department and Willacy County Sheriff’s Office.

    Jose Rodriguez Jr, 44, from Lyford, Texas, was sentenced July 16 by U.S. District Judge Drew Tipton to 240 months. At the hearing, the court heard additional information detailing Rodriguez’s prior conviction of aggravated sexual assault of a child. In handing down the prison term, the court noted Rodriguez’s conduct in that case, which involved tying up his 9-year-old victim before attempting to sexually assault her and tying up an 8-year-old witness, was a consideration for an upward departure. The court also heard Rodriguez downloaded child pornography files on 20 separate occasions, beginning only six months after he was released from his 13-year sentence for the aggravated sexual assault of a child conviction. The court noted the need to protect the public from Rodriguez’s crimes and highlighted that Rodriguez had a complete lack of remorse for his actions.

    “Homeland Security Investigations remains unwavering in its mission to protect children from exploitation. This 240-month sentence demonstrates the severe consequences for those who engage in child pornography crimes. HSI will continue to work with our partners to ensure offenders are brought to justice and vulnerable victims are safeguarded,” said ICE HSI Rio Grande Valley Deputy Special Agent in Charge Mark Lippa.

    “Those who sexually assault children, possess child sexual abuse material, or smuggle human beings like some sort of commodity, are all imbued with a common trait:  total disdain for the inherent value and dignity of a human being. The defendant here had a history of doing all three,” said U.S. Attorney Nicholas J. Ganjei. “Fortunately, SDTX prosecutors were successful in advocating for the maximum possible sentence in this case, that of 20 years, so Mr. Rodriguez will now have two decades to reflect on his conduct. I thank the jury for their time and attention in this important case.”

    The jury deliberated for approximately 15 minutes before finding Jose Rodriguez Jr. guilty after a one-day trial April 15.

    According to court documents, Rodriguez was further ordered to pay restitution to known victims and will serve the rest of his life on supervised release following the completion of his prison term. During that time, he will have to comply with numerous requirements designed to restrict his access to children and the internet. Rodriguez will also be ordered to register as a sex offender.

    Law enforcement originally arrested Rodriguez Aug. 12, 2024, in connection with an alien transportation event. At that time, they seized his phone and discovered over 150 images and videos of child sexual abuse material.

    During the trial, the jury heard testimony and evidence regarding the multiple images and videos of child sexual abuse material downloaded and stored on Rodriguez’s phone over multiple months. The evidence included numerous files depicting the sexual assaults of prepubescent children.

    The defense attempted to convince the jury that a virus downloaded the child sexual abuse material onto his phone. However, evidence showed that Rodriguez had over 100 user accounts on the phone linked to him and that the child sexual abuse material was downloaded on 20 separate occasions from April through August of 2024.

    The jury also heard from a computer forensic expert who rendered an opinion that the pattern of activity indicated intentional downloading.

    Rodriguez was charged in a separate case for the human smuggling event and later pleaded guilty. He was sentenced to 16 months in prison and two years of supervised release in that case.  

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

    Assistant U.S. Attorneys Devin Walker and Jose Garcia from the Southern District of Texas prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI Security: Operation targeting human trafficking and money laundering: 13 arrests in Romania and Netherlands

    Source: Eurojust

    Starting in 2020, the group, led by two family members, used ‘loverboy’ techniques to target vulnerable Romanian women, who were coerced into prostitution in the Netherlands under direct supervision of the criminal group.

    To maintain total control over the lives of their victims, the suspects lived with them. In some cases, members of the group used physical and psychological force against the women to prevent them from escaping the situation.

    © DIICOT Poliția Românăas

    The sexual exploitation generated significant illegal proceeds for the criminal group, which were laundered through relatives and close friends. These individuals either transported large sums of cash or moved the money through financial institutions.

    Eurojust coordinated the international investigation. After the Romanian authorities approached Eurojust for support in early 2024, several meetings were organised with the Dutch authorities. During these meetings, information about the criminal group was exchanged. To enable the authorities to work together effectively and exchange information and evidence in real time, Eurojust set up a joint investigation team in January 2025.

    Together with Eurojust, the authorities organised an action day early this month to detain the suspects and gather more evidence through house searches. In the Netherlands, six suspects were arrested and four houses were searched. During actions in Romania, four suspects were arrested based on European Arrest Warrants from the Netherlands and three suspects were put under judicial control. Additionally, 18 houses were searched and a car, weapons and cash were seized.

    Eight of the arrested suspects remain in pre-trial detention.

    The following authorities carried out the operation:

    • Romania: Prosecution Office attached to the High Court of Cassation and Justice- Directorate for Investigating Organised Crime and Terrorism –Ploiesti Territorial Service; Police Inspectorate Prahova-Criminal Investigation Service; Brigade for Combating Organised Crime Ploiesti
    • Netherlands: Public Prosecutor’s Office Amsterdam

    MIL Security OSI –

  • MIL-OSI Security: Alleged perpetrator of sending thousands of threatening emails to schools in Czech Republic, Slovakia and Latvia apprehended

    Source: Eurojust

    Eurojust has assisted the authorities in the Czech Republic, Slovakia and Latvia with the apprehension of the alleged perpetrator who was responsible for sending thousands of emails in September last year threatening schools with explosions. The mass threats, which were also sent to other educational institutions and leisure centres, caused major public concern and led to the suspension of classes at the beginning of the school year.

    Eurojust supported the national authorities involved by setting up a joint investigation team (JIT) dedicated to the case, as well as providing additional cross-border judicial support.

    The alleged perpetrator also used the social network Telegram to spread his threats. He was apprehended in the Ukrainian city of Dnipro last week but was released pending potential further steps to be taken by the authorities.

    © Dnipropetrovsk Regional Prosecutor’s Office

    Given the mass scale of the threats at the same time across three countries, the police authorities involved coordinated their investigations, assisted by the setting up of the JIT. The joint investigative efforts, using the cybercrime expertise of the police, led to the identification of an alleged perpetrator, operating from the Ukrainian city of Dnipro.

    With the participation of Czech and Slovak police officers, a joint action took place in Dnipro last week, during which the alleged perpetrator was apprehended and one individual was questioned. Furthermore, two locations were searched, which led to the seizure of computer equipment.

    Thanks to the good and close cooperation of all the authorities concerned, the operation was successfully carried out under extremely difficult circumstances, very close to the frontline of the war in Ukraine, with Ukrainian, Czech and Slovak officers exposed to heavy risks.

    Eurojust offered support not only through the establishment of the JIT but also by organising a coordination meeting to prepare for the joint action day in Ukraine. The operation was carried out at the request of and by the following authorities:

    • Czech Republic: High Public Prosecutor’s Office in Prague; National Counterterrorism, Extremism and Cybercrime Agency (NCTEKK)
    • Latvia: Rīga Pārdaugava Prosecution Office; 1st Unit of Cybercrime Enforcement Department of the Central Criminal Police Department of the State Police
    • Slovakia: General Prosecutor´s Office of the Slovak Republic; Police Department West, Anti-Crime Unit, Bureau for Combating Organized Crime of the Presidium of the Police Corps (Police ACU); Counter Terrorism Centre, Presidium of the Police Corps
    • Ukraine: Dnipropetrovsk regional Prosecutor’s Office; Main Department of National Police in Dnipropetrovsk region; Division for Combating Cybercrime in Dnipropetrovsk region of the Cyber Police Department of National Police of Ukraine

    MIL Security OSI –

  • MIL-OSI: 1st Security Bank Announces the Promotion of May-Ling Sowell, effective July 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    MOUNTLAKE TERRACE, Wash., July 21, 2025 (GLOBE NEWSWIRE) — FS Bancorp, Inc. (NASDAQ: FSBW), the holding company for 1st Security Bank of Washington (“1st Security” or “Bank”) announced the promotion of May-Ling Sowell to the position of Chief Compliance Officer, SVP.

    May-Ling became 1st Security Bank’s Compliance Officer in November 2006 after previously working for the Bank as a private consultant. Her career in banking spans over three decades and in 2012 she obtained her Certified Regulatory Compliance Manager designation.

    Prior to joining the Bank, she held similar positions with several local community banks and spent two years operating her own consulting business. In her new role, May-Ling is responsible for and leads a team of employees who support the Bank’s regulatory compliance system, security, and internal compliance training.

    When not at her desk, you’ll find May-Ling reading a mystery novel or camping with her family. She also enjoys spending lots of time with her grandchildren.

    About 1st Security Bank of Washington
    1st Security Bank, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty-seven branches across Washington and Oregon, with mortgage services at each branch as well as lending offices in the Pacific Northwest. For more information visit 1st Security Bank’s website at www.fsbwa.com.

    Note Regarding Forward Looking Statements
    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as “may,” “expected,” “anticipate”, “continue,” or other comparable words. In addition, all statements other than statements of historical facts that address activities that 1st Security expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to review the Securities and Exchange Commission reports of FS Bancorp, particularly its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.

    MEDIA CONTACT
    Camberly Gilmartin
    AVP, Marketing Manager, 1st Security Bank
    camberly.gilmartin@fsbwa.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a10de675-7beb-4756-a99d-b326f5c9398a

    The MIL Network –

  • MIL-OSI USA: Kamlager-Dove, Los Angeles Leaders Sound the Alarm: Defunding Planned Parenthood Would Lead to a Public Health Crisis

    Source: United States House of Representatives – Congresswoman Sydney Kamlager California (37th District)

    LOS ANGELES, CA – Today, Congresswoman Sydney Kamlager-Dove (CA-37), Board Co-Chair of Planned Parenthood L.A., led leaders from across Los Angeles County, including L.A. County Supervisor Holly J. Mitchell and Director of L.A. County Public Health, Dr. Barbara Ferrer, in sounding the alarm on the looming public health crisis that would be triggered by federal defunding of Planned Parenthood. A livestream of the press conference is available here.

    Earlier this month, President Trump signed a budget reconciliation bill that includes a provision to “defund” Planned Parenthood health centers nationwide. Planned Parenthood Federation of America (PPFA) filed a lawsuit challenging the law and its unconstitutional, politically motivated attack on local health centers’ ability to provide care. A federal judge issued a temporary restraining order that is set to expire today.

    “We refuse to stand by while the Trump Administration dismantles our health care system and further erodes our reproductive rights,” said Rep. Sydney Kamlager-Dove, Planned Parenthood Los Angles Board Co-Chair. “Because they couldn’t eradicate abortion through Dobbs, they snuck a backdoor abortion ban into their Big Ugly Bill to target providers and threaten their ability to offer care. Make no mistake, California will remain a beacon of reproductive freedom. We will not be intimidated, we will not be silenced, and we will continue to fight—for Planned Parenthood, for providers, and for every patient who depends on them.”

    “Stripping Medicaid funding from Planned Parenthood doesn’t just threaten clinics, it threatens people. Forcing clinics to shut down is a direct assault on the health and well-being of Black and Brown communities, low-income families, and others for whom Planned Parenthood is their only source of health care,” said L.A. County Supervisor, Holly Mitchell.
     
    “Planned Parenthood plays a vital role in advancing health equity across Los Angeles County. With 24 health centers serving over 260,000 patient visits each year, many in communities that have long been medically underserved, Planned Parenthood serves as a trusted, valued, and essential health care provider,” said Dr. Barbara Ferrer, Director of Los Angeles County’s Department of Public Health.  “By singling out Planned Parenthood, the federal government is disrupting the delivery of high-quality medicine and the primacy of the provider-patient relationship for thousands of people across Los Angeles. Sadly, this short-sited politically motivated move by the federal government will deepen longstanding health inequities and threaten the well-being of so many.”
     
    “Losing access to Planned Parenthood health centers would be not just be a disaster for public health, but also for the young people, women and families who rely on our services to determine the course of their own futures. My message to every Planned Parenthood Los Angeles patient is this: Our doors stay open, and care continues. We’ve been honored to serve this community for 60 years – and we have no intention of going anywhere,” said Sue Dunlap, President and CEO of Planned Parenthood Los Angeles.

    Like any other health care provider, Planned Parenthood is reimbursed for services provided to patients. Defunding means that Planned Parenthood health centers will not receive federal reimbursement for care provided to patients who use Medicaid for their health coverage. More than 80% of Planned Parenthood’s patients in California rely on Medi-Cal, the state Medicaid program, to access birth control, cancer screenings, STI testing and treatment, and more.

    Sadly, we already know where federal defunding of Planned Parenthood will lead. Cancers will go undetected, the STI crisis will worsen, wellness exams and preventative care will substantially decline, and it will be harder than ever for people to access birth control.

    Moreover, people will forgo essential health care and instead turn to already overcrowded emergency rooms for what could have been routine appointments. These are real concerns in Los Angeles, where stark health inequities and stubborn gaps in reproductive health access persist.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Defense News in Brief: Gerald R. Ford Carrier Strike Group and ESPS Canarias (F86) Transit Strait of Gibraltar

    Source: United States Navy

    MEDITERRANEAN SEA – The United States’ newest and world’s largest aircraft carrier USS Gerald R. Ford (CVN 78), Arleigh Burke-class guided-missile destroyers USS Winston S. Churchill (DDG 81) and USS Bainbridge (DDG 96), all assigned to Gerald R. Ford Carrier Strike Group (GRFCSG), transited the Strait of Gibraltar with Spanish Navy Santa Maria-class ESPS Canarias (F86), and fast combat support ship USNS Supply (T-AOE-6), July 19, 2025.

    MIL Security OSI –

  • MIL-OSI Canada: Regrowing Alberta’s Forests

    Source: Government of Canada News

    July 21, 2025
    Calgary, Alberta
    Natural Resources Canada

    The Government of Canada, together with Indigenous communities, private and non-profit sector leaders, and provincial partners, is taking action to regenerate Alberta’s forests — protecting clean air and preserving the province’s vast natural landscapes for generations to come.

    Today, Corey Hogan, Parliamentary Secretary to the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources, announced, in collaboration with Project Forest, The Carbon Farmer and FIND Biomass Inc, a joint investment of over $125 million for four projects that will plant 12 million trees and restore critical habitat for species at risk throughout Alberta, such as caribou.

    Investments will help to create and restore biodiverse forests and wildlife habitat and sequester carbon while creating seasonal and full-time jobs for surrounding communities in Alberta. We are not just planting trees — we are building a stronger, healthier and more-resilient Canada.

    MIL OSI Canada News –

  • MIL-OSI Canada: Backgrounder: Regrowing Alberta’s Forests

    Source: Government of Canada News

    On July 21 2025, Corey Hogan, Parliamentary Secretary to the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources, announced a joint investment of over $125 million for four projects that will plant 12 million trees and restore critical habitats for species at risk throughout Alberta.

    Under Canada’s 2 Billion Trees (2BT) Program, the following projects are receiving funding:

    Project name: Alberta Afforestation
    Recipient: The Carbon Farmer
    Location: Peace Country, Alberta
    Funding amount: $13,797,079
    Description: The Carbon Farmer is spearheading a new initiative — Alberta Afforestation — to plant trees across Alberta’s Peace Country, transforming previously cleared agricultural lands into thriving forests on private properties. Working with local farmers and surrounding forest communities, this project will plant over six million trees, create numerous seasonal and full-time jobs for farmers and local professionals, increase wildlife habitat and sequester carbon.

    Project name: Rewilding Canada: Planting Diverse Forests in Partnership with First Nations, Conservation Groups and Research Institutions
    Recipient: Project Forest
    Location: various sites, Alberta
    Funding amount: $2,933,621
    Description: This project aims to transform former agricultural lands into biodiverse forests. By restoring these landscapes, the initiative will deliver a wide range of benefits to Indigenous communities, including:

    • one million new trees planted on various sites across Alberta, including the Siksika Nation reserve;
    • improved soil health, increased biodiversity and restoration of wildlife habitats, including Elk habitats; 
    • support for Indigenous land stewardship, reclamation of cultural heritage and preservation of Indigenous Knowledge; 
    • 10–15 jobs annually in remote communities; and 
    • training opportunities for youth through a partnership with the University of Alberta.

    Project name: High Yield Afforestation
    Recipient: First Indigenous Biomass Future Inc.
    Location: Cardiff, Alberta
    Funding amount: $558,968
    Description:  First Indigenous Biomass Inc., an Indigenous-owned company, is driving forward its project, which is set to plant over 100,000 trees across 65 hectares near Cardiff, revitalizing the land and contributing to long-term environmental and community resilience. The project will:

    • establish a new forest;
    • create jobs for Indigenous women and youth; and
    •  sequester carbon.

    Project name: Caribou Habitat Recovery Program
    Recipient: Government of Alberta
    Location: various sites, Alberta
    Funding amount: $83,718,501
    Description: Through a new agreement between Canada and Alberta, the province is expanding its Caribou Habitat Recovery Program — taking action to reduce habitat fragmentation and support the long-term recovery of caribou populations across Alberta. This expansion will: 

    • plant nearly five million new trees by 2030; 
    • restore vegetation within the 15 caribou ranges in the province; 
    • increase forest resiliency and wildlife diversity and protect species at risk; 
    • create jobs and training opportunities for rural and Indigenous communities; and 
    • support local cultural and spiritual activities, including food collection.

    MIL OSI Canada News –

  • MIL-OSI USA: Rep. Norcross Hosts More Than 100 Federal, State, and Local Services at 8th Annual Constituent Services Fair

    Source: United States House of Representatives – Congressman Donald Norcross (1st District of New Jersey)

    CHERRY HILL, NJ — Today, Congressman Donald Norcross (NJ-01) hosted representatives from more than 100 federal, state, and local agencies and nonprofits at Camden County College for his 8th Annual Constituent Services Fair. Hundreds of constituents who need assistance on issues ranging from federal programs like Medicare to local rent relief attended. 

    “My annual Constituent Services Fair acts as a one stop shop for South Jerseyans who are in need of assistance. The Constituent Services Fair serves as a reminder that my office is available all year round for help with a wide array of issues ranging from passport renewals to VA benefits,” said Congressman Donald Norcross. “With our breakout sessions on Medicare, Social Security, and homebuying, we connect people directly with resources to help them access basic needs like healthcare, housing assistance, and so much more. If you or someone you know is in need of help, don’t hesitate to contact our office at (856) 427-7000. I’m honored to serve you.” 

    During the fair, Congressman Norcross and his staff hosted breakout sessions on Medicare, Social Security, and Homebuyer Assistance, and answered questions from constituents about these programs. Representatives from Medicare and Medicaid Services, Philadelphia Passport Agency, U.S. Small Business Administration, Camden County Office of Economic Opportunity, New Jersey Board of Public Utilities, Camden and Gloucester County Health Departments, and South Jersey Legal Services were also in attendance.  

    Congressman Donald Norcross and his staff are available to help constituents with issues related to veterans benefits, housing assistance, Medicare and healthcare services, immigration, the Small Business Administration, Social Security, IRS, and senior services. If you have a question or are in need of help with a problem related to these agencies, please contact our office at (856) 427-7000 or visit our website at norcross.house.gov.  

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    MIL OSI USA News –

  • MIL-OSI USA: House Appropriations Approves Bill Including Cline Funding For I-81 Improvements

    Source: United States House of Representatives – Congressman Ben Cline (VA-06)

    House Appropriations Approves Bill Including Cline Funding For I-81 Improvements

    Washington, D.C. – Congressman Ben Cline (R-VA) announced today that the Fiscal Year 2026 Transportation, Housing and Urban Development (THUD) bill passed by the House Appropriations Committee includes $17 million for improvements to Interstate 81. This funding, which Cline requested and supported as a member of the Appropriations Committee, will support key upgrades and potential widening along the corridor, which runs directly through Virginia’s Sixth District and is one of the most heavily traveled highways in the region.

    The I-81 Corridor handles an enormous volume of freight and passenger traffic. Each year, more than 12 million commercial trucks travel along the interstate, moving over $300 billion in goods. As traffic increases, so does the need to modernize the highway to support on-time delivery and reduce disruptions that hurt both local businesses and national commerce.

    “I hear from constituents daily about the dangerous conditions on I-81,” said Congressman Cline. “This funding will help reduce congestion, improve safety, and make the highway more efficient for the millions who rely on it. I’m proud to deliver these federal dollars for our communities, along the 1-81 corridor.”

    Originally built over 50 years ago, I-81 has not kept up with growing traffic and freight demands. A 2018 state report identified urgent needs along the corridor, and while Virginia has taken important steps to address them, additional federal investment is necessary.

    Travel delays are becoming more frequent and unpredictable, impacting both freight movement and personal travel. To help fix this, Virginia’s Interstate 81 Corridor Improvement Program (CIP) includes plans to widen the road from two to three lanes in critical sections. These upgrades will reduce congestion, create more room for emergency response vehicles, and lower the risk of crashes by allowing more space for vehicles to maneuver.

    “I-81 is essential to our region’s economy,” Cline continued. “Whether it’s commuters, families, or truck drivers moving goods through the Valley, Virginians deserve a safer and more reliable interstate. I’ll keep working toward real solutions to make that happen.”

    Congressman Ben Cline represents the Sixth Congressional District of Virginia. He previously was an attorney in private practice and served both as an assistant prosecutor and a Member of the Virginia House of Delegates. Cline and his wife, Elizabeth, live in Botetourt County with their two children.

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    MIL OSI USA News –

  • MIL-OSI USA: 5 Things to Know About Powerful New U.S.-India Satellite, NISAR

    Source: NASA

    Data from NISAR will map changes to Earth’s surface, helping improve crop management, natural hazard monitoring, and tracking of sea ice and glaciers.
    A new U.S.-India satellite called NISAR (NASA-ISRO Synthetic Aperture Radar) will provide high-resolution data enabling scientists to comprehensively monitor the planet’s land and ice surfaces like never before, building a detailed record of how they shift over time. Hailed as a critical part of a pioneering year for U.S.-India civil space cooperation by President Trump and Prime Minister Modi during their visit in Washington in February, the NISAR launch will advance U.S.-India cooperation and benefit the U.S. in the areas of disaster response and agriculture.
    As the first joint satellite mission between NASA and the Indian Space Research Organisation (ISRO), NISAR marks a new chapter in the growing collaboration between the two space agencies. Years in the making, the launch of NISAR builds on a strong heritage of successful programs, including Chandrayaan-1 and the recent Axiom Mission 4, which saw ISRO and NASA astronauts living and working together aboard the International Space Station for the first time.
    The information NISAR provides will help decision-makers, communities, and scientists monitor agricultural fields, refine understanding of natural hazards such as landslides and earthquakes, and help teams prepare for and respond to disasters like hurricanes, floods, and volcanic eruptions. The satellite will also provide key global observations of changes to ice sheets, glaciers, and permafrost, as well as forests and wetlands.
    The NISAR mission is slated to launch no earlier than July 30 from Satish Dhawan Space Centre on India’s southeastern coast aboard an ISRO Geosynchronous Satellite Launch Vehicle.
    Here are five things to know about NISAR:
    1. The NISAR satellite will provide a 3D view of Earth’s land and ice.
    Two synthetic aperture radars (SARs) aboard NISAR will detect changes in the planet’s surface down to fractions of an inch. The spacecraft will bounce microwave signals off Earth’s surface and receive the return signals on a radar antenna reflector measuring 39 feet (12 meters) across. The satellite’s ability to “see” through clouds and light rain, day and night, will enable data users to continuously monitor earthquake- and landslide-prone areas and determine how quickly glaciers and ice sheets are changing. It also will offer unprecedented coverage of Antarctica, information that will help with studying how the continent’s ice sheet changes over time.
    2. Data from NISAR will provide critical insights to help governments and decision-makers plan for natural and human-caused hazards.
    Earthquakes, volcanoes, and aging infrastructure can pose risks to lives and property. Able to see subtle changes in Earth’s surface, NISAR can help with hazard-monitoring efforts and potentially give decision-makers more time to prepare for a possible disaster. For earthquakes, NISAR will provide insights into which parts of a fault slowly move without producing quakes and which are locked together and could potentially slip. The satellite will be able to monitor the area around thousands of volcanoes, detecting land movement that could be a precursor to an eruption. When it comes to infrastructure such as levees, aqueducts, and dams, NISAR data collected over time can help managers detect if nearby land motion could jeopardize key structures, and then assess the integrity of those facilities.
    3. The most advanced radar system ever launched as part of a NASA or ISRO mission, NISAR will generate more data on a daily basis than any previous Earth satellite from either agency.
    About the length of a pickup truck, NISAR’s main body contains a dual-radar payload — an L-band system with a 10-inch (25-centimeter) wavelength and an S-band system with a 4-inch (10-centimeter) wavelength. Each system is sensitive to land and ice features of different sizes and specializes in detecting certain attributes, such as moisture content, surface roughness, and motion. By including both radars on one spacecraft — a first — NISAR will be more capable than previous SAR missions. These two radars, one from NASA and one from ISRO, and the data they will produce, exemplify how collaboration between spacefaring allies can achieve more than either would alone.

    The radars will generate about 80 terabytes of data products per day over the course of NISAR’s prime mission. That’s roughly enough data to fill about 150 512-gigabyte hard drives each day. The information will be processed, stored, and distributed via the cloud — and accessible to all.

    4. The NISAR mission will help monitor ecosystems around the world.
    The mission’s two radars will monitor Earth’s land and ice-covered surfaces twice every 12 days. Their near-comprehensive coverage will include areas not previously covered by other Earth-observing radar satellites with such frequency. The NISAR satellite’s L-band radar penetrates deep into forest canopies, providing insights into forest structure, while the S-band radar is ideal for monitoring crops. The NISAR data will help researchers assess how forests, wetlands, agricultural areas, and permafrost change over time.
    5. The NISAR mission marks the first collaboration between NASA and ISRO on a project of this scale and marks the next step in a long line of Earth-observing SAR missions.
    The NISAR satellite features components developed on opposite sides of the planet by engineers from ISRO and NASA’s Jet Propulsion Laboratory working together. The S-band radar was built at ISRO’s Space Applications Centre in Ahmedabad, while JPL built the L-band radar in Southern California. After engineers from JPL and ISRO integrated NISAR’s instruments with a modified ISRO I3K spacecraft bus and tested the satellite, ISRO transported NISAR to Satish Dhawan Space Centre in May 2025 to prepare it for launch.
    The SAR technique was invented in the U.S. in 1952 and now countries around the globe have SAR satellites for a variety of missions. NASA first used the technique with a space-based satellite in 1978 on the ocean-observing Seasat, which included the first spaceborne SAR instrument for scientific observations. In 2012, ISRO began launching SAR missions starting with Radar Imaging Satellite (RISAT-1), followed by RISAT-1A in 2022, to support a wide range of applications in India.
    More About NISAR
    Managed by Caltech in Pasadena, JPL leads the U.S. component of the project and provided the L-band SAR. 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 manages the Near Space Network, which will receive NISAR’s L-band data.
    The ISRO Space Applications Centre is providing the mission’s S-band SAR. The U R Rao Satellite Centre is providing 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/

    News Media Contacts
    Andrew Wang / Jane J. LeeJet Propulsion Laboratory, Pasadena, Calif.626-379-6874 / 626-491-1943andrew.wang@jpl.nasa.gov / jane.j.lee@jpl.nasa.gov
    2025-090

    MIL OSI USA News –

  • MIL-OSI USA: Hours to Change at Disaster Recovery Centers in Tennessee

    Source: US Federal Emergency Management Agency

    Headline: Hours to Change at Disaster Recovery Centers in Tennessee

    Hours to Change at Disaster Recovery Centers in Tennessee

    Middle and Western Tennesseans who experienced damage from the April 2-24 severe storms can get in-person assistance at FEMA Disaster Recovery Centers

    The deadline to apply for assistance is Aug

    19

    Money is available for survivors who need help covering uninsured costs for things like rental expenses, home repairs, vehicle damage, medical expenses, moving and storage, and reimbursement for temporary housing

    Homeowners, renters, students, self-employed, ranchers and farmers in Cheatham, Davidson, Dickson, Dyer, Hardeman, McNairy, Montgomery, Obion and Wilson counties can apply for FEMA assistance

    Disaster Recovery CenterHours: Beginning Monday, July 21 centers are open:9 a

    m

    to 6 p

    m

    Monday – Friday9 a

    m

    to 2 p

    m

    SaturdayClosed SundayLOCATIONS:Dyer County: Bogota Community Center, 78 Sandy Lane, Bogota, TN 38007Hardeman County: Safehaven Storm Shelter, 530 Madison Ave W

    , Grand Junction, TN 38039McNairy County: Latta Theatre, 205 W

    Court Ave

    , Selmer, TN 38375Montgomery County: Montgomery County Library, 350 Pageant Lane, Clarksville, TN 37040Obion County: Obion County Library, 1221 E

    Reelfoot Ave

    , Union City, TN 38261How to Apply for FEMA AssistanceApply online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call the FEMA Helpline at 800-621-3362

    In-person help is available at any Disaster Recovery Center for submitting applications, getting updates and asking questions

    Find a center here: DRC Locator (fema

    gov)

    Video: What to Expect Before Applying for FEMA Assistance | ASL | SpanishVideo: Next Steps After Applying for FEMA Assistance  | ASL | Spanish
    kwei

    nwaogu
    Mon, 07/21/2025 – 13:22

    MIL OSI USA News –

  • MIL-OSI Security: Leader of National Catalytic Converter Theft Ring Pleads Guilty and Admits to Selling Stolen Goods for More Than $600M

    Source: United States Attorneys General

    A New Jersey man pleaded guilty today in federal court in the Northern District of Oklahoma to leading a multi-state operation that stole thousands of catalytic converters from private vehicles and sold them on a secondary market for millions of dollars, based on the value of the precious metals that the converters contain. 

    Navin Khanna, 41, of Holmdel, New Jersey, pleaded guilty to one count of conspiracy to receive, possess, and dispose of stolen goods in interstate commerce and five counts of money laundering regarding his participation in the stolen goods scheme.

    “The defendant made $600 million and financed his ostentatious lifestyle by buying and selling stolen goods,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Today’s guilty plea demonstrates our commitment to taking the profit out of crime. Sophisticated criminal schemes may afford you luxury cars and homes in the short term but will cost you a federal felony conviction in the long term.”

    “Khanna’s theft ring took advantage of hard-working citizens in the Northern District of Oklahoma by stealing catalytic converters, rendering the vehicle unusable,” said U.S. Attorney Clint Johnson for the Northern District of Oklahoma. “I would like to thank the Tulsa Police Department and our law enforcement partners for their tireless efforts in bringing this senseless crime to justice.”

    According to court documents and statements made in court, Khanna admitted to being the owner and operator of New Jersey-based D.G. Auto Parts, a criminal enterprise that bought and sold auto parts across the country. From May 2020 through October 2022, Khanna conspired with others to purchase and transport large quantities of stolen catalytic converters from Oklahoma, Texas, and other states to New Jersey. Khanna admitted to receiving more than $600 million by reselling the stolen catalytic converters to a metal refinery that extracted the precious metals.

    In response to a drastic increase in catalytic converter thefts throughout Tulsa in 2020, the Tulsa Police Department initiated an investigation that soon uncovered a national criminal enterprise. During the investigation, search warrants were executed in Oklahoma, Texas, California, New Jersey and New York. Khanna was indicted by federal grand juries in the Northern District of Oklahoma and the Eastern District of California. Over twenty individuals throughout the country have been charged for their role in the conspiracy. Khanna’s 13 co-defendants in the Northern District of Oklahoma have pleaded guilty for their participation in the criminal scheme and are awaiting sentencing.

    As part of his plea agreement, Khanna agreed to forfeit almost $4 million in cash, 11 luxury vehicles — including a Lamborghini, two Mercedes AMGs, two Ferraris, a McLaren, a Porsche, a Ford F650 Truck, and a BMW M3 — real estate properties, high-end jewelry, gold bars, and over 200 pallets of catalytic converters, all seized by law enforcement during the execution of search warrants at Khanna’s properties. Khanna’s co-defendants have agreed to forfeit more than $3.2 million, including more than $250,000 from multiple bank accounts; two lots of land located in Oklahoma, cars, and stolen catalytic converters seized during the investigation.

    The U.S. Attorney’s Office for the Northern District of Oklahoma has agreed that Khanna’s sentencing will be transferred to the Eastern District of California, where he awaits further prosecution for related crimes.

    Khanna faces a maximum penalty of 168 to 210 months in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement Homeland Security Investigations (HSI) led the investigation. IRS-Criminal Investigations, the Tulsa Police Department, the Oklahoma Attorney General’s Office, the Tulsa County Sheriff’s Office, the Oklahoma Highway Patrol, the Wagoner County Sheriff’s Office, and the Wyandotte Nation Police Department contributed to the investigation.

    Trial Attorney César S. Rivera-Giraud of the Criminal Division’s Violent Crime and Racketeering Section (VCRS) and Assistant U.S. Attorneys Reagan Reininger and David Nasar for the Northern District of Oklahoma are prosecuting the case. Assistant U.S. Attorney Veronica M.A. Alegría for the Eastern District of California assisted in the prosecution of the case and is prosecuting Khanna and others there.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations 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 Neighborhoods (PSN). 

    MIL Security OSI –

  • MIL-OSI Security: Eye Consultants of Pennsylvania, PC Agrees To Pay $790,000.00 To Settle False Claims Act Allegations

    Source: Office of United States Attorneys

    HARRISBURG, PA —The United States Attorney’s Office for the Middle District of Pennsylvania announced that Eye Consultants of Pennsylvania, PC (ECOP) has agreed to pay $790,000.00 to resolve False Claims Act allegations of civil liability for submitting claims to Medicare for Evaluation & Management (E&M) services that violated Medicare rules and regulations.

    According to the Acting United States Attorney John C. Gurganus, between September 1, 2018, and April 7, 2025, ECOP submitted claims to Medicare Part B for E&M services on the same date of service for beneficiaries receiving bilateral eye injections in violation of the applicable Medicare rules and regulations.

    “The United States Attorney’s Office in the Middle District of Pennsylvania is dedicated to working with its law enforcement partners to zealously investigate allegations of the submission of unsupported claims to federal healthcare programs,” said Acting United States Attorney John C. Gurganus. “Improperly billing federal healthcare programs increases the costs of these taxpayer-funded programs.  Settlements like this one are an important part of the fight against fraud, waste and abuse.”

    “Providers who participate in the Medicare program must abide by the program’s rules when submitting claims,” said Maureen Dixon, Special Agent in Charge of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG is committed to protecting the integrity of the Medicare program and maintaining the trust of the people it serves. We will continue to work with the United States Attorney’s Office and other law enforcement partners to address allegations brought under the False Claims Act.”

    This matter was handled by the Department of Health and Human Services, Office of Inspector General (HHS-OIG), and Assistant U.S. Attorney Tamara Haken of the Affirmative Civil Enforcement Unit of the U.S. Attorney’s Office for the Middle District of Pennsylvania.

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    MIL Security OSI –

  • MIL-OSI Security: Foster Man Admits to Downloading and Storing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    PROVIDENCE – A Foster man previously convicted and incarcerated for sharing sexually explicit photographs online with a person he believed to be a 13-year-old girl with whom he also attempted to meet near her middle school to engage in sex today pleaded guilty to a charge of receipt of child pornography, announced Acting United States Attorney Sara Miron Bloom.

    John Q. Adams, 36, admitted that on January 13, 2021, he downloaded and stored an explicit video file depicting child sexual abuse material involving two adult males and a prepubescent female. Further investigation determined that Adams had downloaded and stored approximately 112 images and 49 videos of child sexual abuse material.

    Adams is scheduled to be sentenced on October 21, 2025. The sentence imposed will be determined by a federal district judge after consideration of the U.S. Sentencing Guidelines and other statutory factors.

    The case is being prosecuted by Assistant United States Attorney Denise M. Barton.

    The matter was investigated by Homeland Security Investigations and the Rhode Island State Police Internet Crimes Against Children Task Force.

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

    To report suspected online child sexual exploitation and/or abuse, call the Know2Protect Tipline at 1-833-591-KNOW (5669) or visit the NCMEC CyberTipline® at https://report.cybertip.org/

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    MIL Security OSI –