NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: Transport

  • MIL-OSI Asia-Pac: Alice Mak begins Sichuan visit

    Source: Hong Kong Information Services

    Secretary for Home & Youth Affairs Alice Mak today began a visit to Sichuan y touring the Shenshuping Base of the China Conservation & Research Centre for the Giant Panda (CCRCGP) and the Wolong Natural Museum in the Giant Panda National Park.

    She also attended the closing ceremony of the “2025 Youth Internship Programme at Wolong Region of Giant Panda National Park”, with 20 Hong Kong youths completing the programme.

    In the morning, Miss Mak visited the Shenshuping Base of the CCRCGP. Accompanied by Hong Kong youths participating in the internship programme, she toured the facilities at the centre, which were rebuilt with Hong Kong’s support.

    The interns, who served as guides, gave a detailed presentation about nature conservation and the work of caring for and rearing giant pandas.

    Miss Mak then visited the Wolong Natural Museum in the Giant Panda National Park, where the interns shared their experiences of ecological conservation work at the Wolong National Nature Reserve.

    The youth affairs chief attended the internship programme’s closing ceremony in the afternoon.

    In a speech, Miss Mak highlighted that the Home & Youth Affairs Bureau (HYAB) has collaborated with the Sichuan Wolong Nature Reserve Administration and the CCRCGP to organise the internship programme since 2017, adding that it provides Hong Kong youths with professional training and practical work experience in nature conservation and ecotourism.

    She thanked the Sichuan Provincial Bureau of Forestry & Grassland, the Wolong Nature Reserve Administration and the CCRCGP for their long-standing support for Hong Kong’s youth development, and enabling students to gain practical experience through the internships.

    Jointly organised by the HYAB and various Mainland official cultural, nature conservation and scientific research institutions, the HYAB Thematic Youth Internship Programmes to the Mainland comprise six internship programmes, providing over 110 specialised internship positions for Hong Kong youths.

    MIL OSI Asia Pacific News –

    July 18, 2025

  • MIL-OSI United Kingdom: Eight British soldiers of the Great War laid to rest in France

    Source: United Kingdom – Executive Government & Departments

    News story

    Eight British soldiers of the Great War laid to rest in France

    The remains of eight British soldiers, including four who have been identified by name, have been laid to rest today (16 July 2025) in France, more than 108 after they died in the First World War.

    The families watch on as the coffin is brought to the graveside. Crown Copyright

    The burial service, organised by the Ministry of Defence’s Joint Casualty and Compassionate Centre (JCCC), also known as the ‘War Detectives’, took place at the Commonwealth War Graves Commission’s (CWGC) Loos British Cemetery Extension, which was opened in September 2024. 

    The four identified soldiers were Corporal Alfred James Morrant and Private Henry Joseph Rycraft of the 11th Battalion The Essex Regiment, who were killed on 22 April 1917, and Private Arthur Albert Grayston and Private Lewis Ephraim Lambert of the 8th Battalion The Bedfordshire Regiment, who were killed on 19 April 1917. All four men had previously been commemorated on the Loos Memorial to the missing. 

    JCCC Caseworker, Rosie Barron said: 

    It has been an honour to have worked with The Royal Anglian Regiment and CWGC to organise the burial service today and to have had the Grayston and Morrant families present. Today we honour the memory of all of these men, whether named or unknown, and remember their comradeship and sacrifice.

    The remains were recovered during the construction of a new hospital on the outskirts of the city of Lens in northern France and were among many British and Canadian casualties recovered from the site. All four named soldiers were identified through DNA testing. Two of the unknown soldiers are also known to have belonged to The Essex Regiment. It is believed that all eight men were killed in April 1917 during the Battle of Arras. 

    The service was supported by serving soldiers from 2nd Battalion The Royal Anglian Regiment and was attended by Jennifer Strawn, the granddaughter of Private Grayston, and two great-great nephews of Corporal Morrant. 

    Members of the Grayston and Morrant families stand at the graveside with the military party. Crown copyright.

    Jennifer Strawn reflected on the service, and said:

    I think everyone did a great job and the day was perfect. I will always remember it.

    Paul Morrant said:

    The work of JCCC and CWGC is fantastic. The soldiers of The Royal Anglian Regiment were great as they honoured soldiers of The Essex and Bedfordshire Regiments. The the whole thing was a great experience.

    In a separate ceremony yesterday (15 July 2025), a rededication service took place for Lance Corporal Charles Madgwick at Lebucquière Communal Cemetery Extension. LCpl Madgwick was serving with 4th Battalion The Bedfordshire Regiment when he was killed on 24 March 1918 during the German Spring Offensive. His grave was identified after a researcher submitted a case to CWGC hoping to have found his final resting place. After further research by CWGC, the National Army Museum and JCCC, the identification was confirmed. 

    Both services were conducted by the Reverend Carl Stokes CF, Chaplain to Blandford Garrison.  Reverend Stokes said:

    It has been a tremendous privilege, as an Army Chaplain, to honour the eight fallen soldiers of the Bedfordshire and Essex Regiments by laying their remains to rest alongside their comrades in Commonwealth War Graves. For the four soldiers who have been identified, it is especially moving to see their names finally inscribed on their headstones. The other four will bear the poignant epitaphs ‘Known unto God’ or ‘A Soldier of the Great War.’ It has also been a great honour to share this moment with some of their family members and with soldiers from their legacy regiment, the Royal Anglian Regiment, who served as the honour guard and bearer party. More than a century later, their sacrifice is not forgotten. Their legacy—the freedom they helped secure—lives on.

    All the graves will now be cared for in perpetuity by CWGC. 

    CWGC Commemorations Casework Manager, David Royle, said: 

    Every year the work of the Commission continues; installing headstones to recently identified casualties like we had for Lance Corporal Madgwick yesterday, or by ensuring that recently recovered casualties are buried in one of our cemeteries. 

    For the eight soldiers buried today in the Loos British Cemetery Extension, we are extremely proud to have worked alongside the JCCC in identifying by name some of these casualties. Although it hasn’t been possible to identify them all, they have been buried with the same dignity and honour. Their service and sacrifice has not been forgotten, 108 years after their deaths.

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

    July 18, 2025

  • MIL-OSI USA: Study Highlights Higher Rates, Risk Factors for Non-Fatal Overdoses

    Source: US State of Connecticut

    A new opioid overdose study has identified several key risk factors associated with non-fatal overdoses, as well as a significantly higher overdose rate, drawing from a sample of people who use opioids in New Haven.

    This work was led by Md. Safaet Hossain Sujan, a Ph.D. student in the Department of Allied Health Sciences, alongside faculty Roman Shrestha, associate professor, and Michael Copenhaver, professor. The study was published in the Journal of Community Health.

    Shrestha and Copenhaver have years of experience working with people who use opioids, but they had never looked at non-fatal overdose rates in the population.

    In the past year, suspected non-fatal overdoses from opioids increased 39% in Connecticut, based on emergency room admissions data.

    “The opioid epidemic, as we know, is a huge public health issue, especially with synthetic opiates like fentanyl that have created even more worrying patterns,” Shrestha says.

    The researchers found that nearly half of the 199 participants had experienced a non-fatal overdose in their lifetime. This is significantly higher than the rate observed in previous studies, which found between 11 to 36% of their study population had experienced an overdose.

    The researchers hypothesize that the higher rate they observed could be due to a number of factors including ongoing polysubstance use patterns, socioeconomic challenges, homelessness, and lack of access to harm reduction services.

    Further, previous studies have taken place in opioid treatment centers where people are already connected to care. This study recruited participants from a syringe services program in New Haven.

    “Our study was done in a community-based syringe services program, and not everybody was accessing care, and that may be one of the factors [that could explain why] the rate was higher in this particular study,” Shrestha says.

    Doing this kind of study in a setting like a syringe services is critical as only about a quarter of people nationwide with opioid use disorder are accessing care with medications like methadone, which helps reduce opioid withdrawal symptoms. In this study, about a third of participants were involved in a drug treatment program. Nearly 80% reported they had experienced difficulty accessing addiction treatment services in the past year.

    The research team identified several important patterns related to non-fatal overdoses, including experiencing suicidal ideation, depressive symptoms, alcohol use disorder, and opioid dependence. Based on previous work with this population, the researchers also know that they experience high rates of domestic violence.

    “There are a lot of other concerning factors involved,” Copenhaver says. “So, it really makes it important to figure out how to handle the situation in the best way. We’re trying to get a grip on how to intervene effectively.”

    Looking at demographic factors, the researchers found that older participants were less likely to experience an overdose. This may be because older people may be more likely to test their drug supply, the researchers say.

    The findings of this study highlight not only the need to increase the number of people able to access treatment, but also the need to address factors like mental health challenges in these settings.

    “Getting them into treatment may be the main intervention, because a lot of the factors could be addressed while they’re in treatment,” Copenhaver says. “Not everybody comes in with the same set of problems, but a lot of these do overlap with overdose issues.”

    The researchers are working on developing digital tools to help more people access interventions for opioid use disorder, in addition to working with people in-person to encourage them to enroll in treatment.

    “We want to make people aware of what is out there and how they can access those services, but making it a low-threshold model, making it easier for the users to access the services,” Shrestha says.

    This work relates to CAHNR’s Strategic Vision area focused on Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

    July 18, 2025

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

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

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

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

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

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

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    OTHER INDICTMENTS

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

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

    MIL Security OSI –

    July 18, 2025

  • MIL-OSI: Microchip Enters into Partnership Agreement with Delta Electronics on Silicon Carbide Solutions for the Future of Power Management

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., July 17, 2025 (GLOBE NEWSWIRE) — The growth of artificial intelligence (AI) and the electrification of everything are driving an ever-increasing demand for higher levels of power efficiency and reliability. Microchip Technology (Nasdaq: MCHP) today announces that under a new partnership agreement with Delta Electronics, Inc. (later referred to as “Delta Electronics”), a global leader in power management and smart green solutions, the companies will collaborate to use Microchip’s mSiC™ products and technology in Delta’s designs. The synergies between the companies aim to accelerate the development of innovative SiC solutions, energy-saving products and systems that enable a more sustainable future.

    “SiC is increasingly important in sustainable power solutions because of its wide-bandgap properties, which enable smaller and more efficient designs for high-voltage, high-power applications at a lower system cost,” said Clayton Pillion, vice president of Microchip’s high-power solutions business unit. “We look forward to forging an impactful path with Delta Electronics on innovating SiC solutions to meet the rising demand of the electrification of everything.”

    As a global leader in power management, Delta advances its core competence in high-efficiency power electronics and continuously evaluates and leverages next-generation technologies to enhance the energy efficiency of its products and solutions. Delta intends to leverage Microchip’s abundant experience and advanced technology in SiC and digital control to accelerate time to market of its solutions for high-growth market segments such as AI, mobility, automation and infrastructure.

    This agreement prioritizes the companies’ resources to validate Microchip’s mSiC solutions to fast-track implementation in Delta’s designs and programs. Other key advantages of the agreement are top-tier design support to include technical training, insight into R&D activities and early access to product samples.

    With over 20 years of experience in the development, design, manufacturing and support of SiC devices and power solutions, Microchip helps customers adopt SiC with ease, speed and confidence. Microchip’s mSiC products include SiC MOSFETS, diodes and gate drivers with standard, modified and custom options. To learn more about Microchip’s mSiC solutions, visit the web page.

    For more information about Delta Electronics, visit the company’s website.

    Resources

    High-res images available through Flickr or editorial contact (feel free to publish):

    About Microchip Technology:
    Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve over 100,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

    Note: The Microchip name and logo, the Microchip logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. mSiC is a trademark of Microchip Technology Inc. in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

    The MIL Network –

    July 18, 2025

  • MIL-OSI: Pacific Sun Packaging, a Subsidiary of PMGC Holdings, Announces Attendance at 2025 ITAD Summit to Showcase Custom Protective Packaging for Enterprise IT Hardware

    Source: GlobeNewswire (MIL-OSI)

    • Serving Data Centers, ITAD Firms, and OEMs with U.S.-Engineered, High-Precision Solutions
    • Showcasing U.S. designed Protective Packaging Built for Data Centers and Circular IT

    NEWPORT BEACH, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Pacific Sun Packaging Inc., a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), a leader in high-precision, component-specific packaging for IT and electronics hardware, is pleased to announce its participation in the 2025 ITAD Summit in Las Vegas, Nevada, marking the company’s first appearance at the event. The company will exhibit at Booth A07 on July 29 – 30, 2025 at The Bellagio, Las Vegas, NV

    Founded in 2011, Pacific Sun Packaging specializes in custom-engineered solutions to protect delicate IT components, including CPUs, DIMMs, SSDs, HDDs, and fiber-optic modules throughout storage, transport, and resale. The company’s solutions are widely used by OEMs, data centers, and ITAD firms requiring packaging that meets rigorous standards for ESD safety, dimensional precision, and supply chain durability.

    “As the ITAD and data center industries evolve, packaging needs have become more technical and more critical,” said Mike Kerzie, Chief Executive Officer at Pacific Sun Packaging. “We’re proud to bring our U.S.-made, enterprise-grade packaging solutions to the summit and support the circular IT economy.”

    The summit provides an opportunity for Pacific Sun to reconnect with its existing customer base primarily in data center operations and build relationships with new partners in the IT lifecycle management space. Known for its fast design cycles and scalable production, the company offers tailored packaging strategies that enhance resale value, reduce returns, and streamline integration.

    Visit Pacific Sun Packaging at Booth A07 to explore how precision-engineered packaging solutions can improve your asset protection strategy.

    About Pacific Sun Packaging Inc.

    Founded in 2011, Pacific Sun Packaging Inc. is a specialty packaging provider focused on high-precision, component-level packaging solutions for the electronics and information technology (IT) hardware industries. The company’s solutions are trusted by OEMs, distributors, and contract manufacturers across the semiconductor, data center, and networking supply chains. Headquartered in San Clemente, California, Pacific Sun delivers reliable, scalable packaging built in America.

    About PMGC Holdings Inc.

    PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC’s filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Relations Contact:

    IR@pmgcholdings.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: Aemetis India Appoints Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., July 17, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and biofuels company, announced today that its India subsidiary, Universal Biofuels, appointed Anjaneyulu Ganji as Chief Financial Officer, commencing responsibilities on July 17, 2025. 

    “The growing India economy has increased demand for energy, including biodiesel, ethanol, and compressed natural gas,” stated Sanjeev Duggal, Managing Director of Universal Biofuels. “To lead the expansion of Universal, we are very pleased to have a high-quality executive such as Anjan (Anjaneyulu Ganji) join the company as we increase existing production as well as finance and build new biofuels projects.” 

    “Having completed initial public offerings and other financings for growth companies in India, including an IPO for a large dairy business, I am confident that the growing market in India creates opportunities for production expansion and investments in new markets,” said Anjaneyulu Ganji, Chief Financial Officer of Universal Biofuels. “The leadership team at Aemetis has shown its ability to manage opportunities in India and has built an excellent reputation for biofuel product delivery and quality. I am excited to join the team and look forward to many successes as we expand the company.” 

    Mr. Ganji was the Group Chief Financial Officer of Dodla Dairy Limited, a company with $450 million per year of current revenue headquartered in Hyderabad, India. At Dodla Dairy, he led the strategy, finance, secretarial, tax, and treasury operations of a multinational operation with 14 manufacturing plants across five countries. Dodla Dairy was the second largest private dairy in India prior to undertaking an Initial Public Offering (IPO) in 2021, which Mr. Ganji successfully managed with 45 times over-subscriptions CFO.

    Mr. Ganji was also the Group CFO for Marengo Asia Healthcare and was Global Head of Accounting and Controlling at Maersk Line GmbH (GSC), in charge of global finance, accounts, and finance transformation for $40 billion Maersk Line, Maersk Oil, Seago and Sealine. Previously, he was a DGM and finance controller at the $700 million TATA Cummins Ltd, responsible for the finance and accounts function for the India Parts Distribution Center. 

    Based in Hyderabad since 2007, the Universal Biofuels subsidiary of Aemetis built, owns, and operates an 80 million gallon per year production facility on the East Coast of India producing high quality biodiesel and refined glycerin. Universal Biofuels is expanding biofuels production as well as diversifying into ethanol and renewable natural gas production facilities.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that lower fuel costs and reduce emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality biodiesel and refined glycerin. Aemetis is developing a carbon sequestration well project and a renewable diesel fuel and SAF biorefinery in Riverbank, California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, biodiesel and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations

    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com   

    The MIL Network –

    July 18, 2025

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: GigaCloud Technology Inc Brings Curated Showroom Spotlighting Strategic Brand Partnerships to 2025 Summer Las Vegas Market

    Source: GlobeNewswire (MIL-OSI)

    EL MONTE, Calif., July 17, 2025 (GLOBE NEWSWIRE) — GigaCloud Technology Inc. (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its participation in the upcoming Las Vegas Market, held from July 27 to 31 at the World Market Center.

    From its showroom at A610, the Company will showcase its signature product lines alongside a curated selection of partner products. Key highlights include:

    Christopher Knight Home Showcases Modern Take on Signature Collections

    The brand will present its signature product line focused on a more modern, consumer-driven aesthetic, delivering stylish, affordable furniture to today’s design-conscious shoppers.

    Collaboration with Purple®

    GigaCloud will be featured in Purple Innovation’s showroom at C1554. As an integrated partner, GigaCloud supports Purple through the Supplier Fulfilled Retailing® (SFR®) model, helping expand buyer reach through streamlined fulfillment operations. Attendees can see firsthand how GigaCloud’s solutions drive growth and efficiency for leading brands like Purple.

    Broader Expansion into Sleep Solutions

    As part of its growing footprint in sleep solutions, GigaCloud is now featuring new product offerings from key partners in its showroom:

    • Zinus – Featuring its new Dreamvibe line, designed for next-generation sleep comfort.
    • Nubba Sleep – An exclusive mattress line developed for the GigaCloud Marketplace.
    • Instant Comfort® – Presenting its collection of adjustable comfort smart beds.
    • House & Home – Spotlighting signature upholstered beds and bunkbeds.

    “We are thrilled to return to Las Vegas Market with an expanded product portfolio and an increasingly diverse partner network,” said Iman Schrock, President of GigaCloud. “As the B2B landscape continues to evolve, we remain committed to delivering solutions that simplify cross-border commerce, reduce partner costs, and enable scalable growth across the value chain.”

    Email hello@gigacloudtech.com to arrange a meeting or demo at GigaCloud’s showroom (Building A610) during Las Vegas Market, July 27-31.

    About Las Vegas Market

    Las Vegas Market is the premier home furnishings and gift market in the western U.S., presenting 3,500 brands across furniture, home décor, bedding and gift categories, in three permanent showroom buildings and a purpose-built exhibit hall. This dynamic market destination attracts buyers from all 50 states and more than 80 countries, offering unmatched opportunities for cross-category commerce among these industries. Owned and operated by ANDMORE℠, Las Vegas Market is held semi-annually at World Market Center Las Vegas. https://www.LasVegasMarket.com.

    About Purple 

    Purple, the leading premium mattress company with the #1 gel grid technology in the world, GelFlex® Grid, thoughtfully engineers products that make restorative sleep effortless for every kind of sleeper. The result of over 30 years of innovation and 150 issued patents in comfort technologies, Purple’s GelFlex Grid is the most significant advancement in mattresses in decades and is proven to reduce aches and pains. It instantly adapts as you move, balances temperature, relieves pressure, and offers support in all the right places. Purple products, including mattresses, pillows, cushions, frames, sheets and more, can be found online at Purple.com, in over 57 Purple stores and over 3,000 retailers nationwide. Less Pain. Better Sleep.

    About GigaCloud Technology Inc

    GigaCloud Technology Inc. is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.

    For investor and media inquiries, please contact:

    GigaCloud Technology Inc.
    Investor Relations
    ir@gigacloudtech.com

    PondelWilkinson, Inc.
    Laurie Berman (Investors) – lberman@pondel.com
    George Medici (Media) – gmedici@pondel.com

    The MIL Network –

    July 18, 2025

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

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

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

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

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

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

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

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

    STATEMENT OF INCOME

    Net Interest Income

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

    Net Interest Margin

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

    Provision for Credit Losses

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

    Noninterest Income

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

    Noninterest Expense

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

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

    Provision for Income Tax Expense

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

    STATEMENT OF FINANCIAL CONDITION

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

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

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

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

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

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

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

    Capital Ratios (2)

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

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

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

    CalPrivate Bank Announces Board of Directors Changes

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

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

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

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

    Non-GAAP Financial Measures

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

    Investor Relations Contacts

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

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

    Safe Harbor Paragraph

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

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

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

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

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

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

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

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

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

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

    The MIL Network –

    July 18, 2025

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

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter 2025 Highlights

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

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

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

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

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

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

    STATEMENT OF INCOME

    Net Interest Income

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

    Net Interest Margin

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

    Provision for Credit Losses

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

    Noninterest Income

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

    Noninterest Expense

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

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

    Provision for Income Tax Expense

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

    STATEMENT OF FINANCIAL CONDITION

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

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

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

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

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

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

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

    Capital Ratios (2)

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

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

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

    CalPrivate Bank Announces Board of Directors Changes

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

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

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

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

    Non-GAAP Financial Measures

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

    Investor Relations Contacts

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

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

    Safe Harbor Paragraph

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

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

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

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

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

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

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

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

    PRIVATE BANCORP OF AMERICA, INC.
    (Unaudited)

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

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

    The MIL Network –

    July 18, 2025

  • MIL-OSI: Aspen Aerogels, Inc. Schedules Second Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NORTHBOROUGH, Mass., July 17, 2025 (GLOBE NEWSWIRE) — Aspen Aerogels, Inc. (NYSE: ASPN) (“Aspen” or the “Company”) today announced that Don Young, President & Chief Executive Officer, and Ricardo C. Rodriguez, Chief Financial Officer & Treasurer, expect to discuss the Company’s financial results for the second quarter ended June 30, 2025, during a conference call scheduled for Thursday, August 7, 2025, at 8:30 a.m. ET. The Company also expects to release its quarterly financial results before the market opens on Thursday, August 7, 2025.

    Shareholders and other interested parties may participate in the conference call by dialing +1 (404) 975-4839 (domestic) or +1 (929) 526-1599 (international) and referencing conference ID “548576” a few minutes before 8:30 a.m. ET on Thursday, August 7, 2025. In addition, the conference call and an accompanying slide presentation will be available live as a listen-only webcast hosted on the Investors section of Aspen’s website, www.aerogel.com.

    A replay of the webcast will be available on the Investor Relations section of the Aspen website at www.aerogel.com, where it will remain available for approximately one year after the conference call.

    About Aspen Aerogels, Inc.
    Aspen is a technology leader in sustainability and electrification solutions. The Company’s aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, e-mobility and clean energy. Aspen’s PyroThin® products enable solutions to thermal runaway challenges within the electric vehicle (“EV”) market. The Company’s Cryogel® and Pyrogel® products are valued by the world’s largest energy infrastructure companies. Aspen’s strategy is to partner with world-class industry leaders to leverage its Aerogel Technology Platform® into additional high-value markets. Aspen is headquartered in Northborough, Mass. For more information, please visit www.aerogel.com.

    Investor Relations & Media Contacts:
    Neal Baranosky
    Phone: (508) 691-1111 x 8
    nbaranosky@aerogel.com

    Georg Venturatos / Patrick Hall
    Gateway Group
    ASPN@gateway-grp.com
    Phone: (949) 574-3860

    The MIL Network –

    July 18, 2025

  • MIL-OSI: New Survey Shows Shoppers Are Showing Up This Holiday Season — Even Amid Tariffs and Turmoil

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, July 17, 2025 (GLOBE NEWSWIRE) — Will tariffs deter holiday shoppers this year? Not according to a new consumer holiday shopping report from Salsify, the platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf. The company released its inaugural 2025 Consumer Holiday Shopping Report today and the message is clear: even amid ongoing economic and political turbulence, shoppers are showing up this season — but they’re skipping the old playbook. From AI-curated gift guides and the digital takeover of Black Friday to the surprising rise of alcohol gifting and the decline of social media’s shopping influence, consumers are rewriting the rules of the holiday season.

    In fact, spreading good cheer seems to be on everyone’s list with 75% of consumers saying they’ll spend the same or more on gifts this year, with Gen Z and millennials leading the charge. But it’s not just about how much they spend. It’s about how, why, and where they do it.

    “Shoppers aren’t letting inflation, tariffs, or global turmoil steal their holiday spirit,” said Dom Scarlett (she/her), Research Director at Salsify. “Black Friday is thriving, but not in-store. Gift discovery is shifting from social to search, video, and even AI. And more than ever, consumers are choosing brands that reflect who they are, not just what they want.”

    Black Friday Just Swiped Cyber Monday’s Crown

    Black Friday is back, and now it’s digital. A record 73% of shoppers plan to participate this year, outpacing Cyber Monday’s 61%. Only 11% say they’ll shop Black Friday exclusively in stores, while nearly one in four will toggle between in-person and online deals. Millennials (46%) and Gen X (42%) are fueling the shift toward mobile-first shopping from the couch.

    Retailer Insight: Cyber Monday is no longer the peak. Retailers should treat Black Friday as the digital centerpiece and focus on app-based early access, flash sales, and omnichannel execution.

    AI Gift Guides Are the New Holiday Hero

    Half of all shoppers say AI tools, like chatbots and curated gift suggestions, would improve their holiday experience. Thirteen percent of millennials and 11% of Gen Z are already using AI to shop, making it more influential than blogs, podcasts, or print ads. For younger consumers, AI is more than a novelty, it’s expected.

    Sixty-three percent of millennials and 56% of Gen Z believe AI makes shopping easier and more personalized. Gen Z shoppers are also more likely to use voice assistants or chatbots for gift-finding help.

    Retailer Insight: Shoppers are asking AI what to buy. To show up in those results, brands must optimize product data for AI-powered search and recommendation engines.

    From TikTok to TV: Shoppers Are Changing the Channel

    Social media’s role in holiday discovery is fading. This year, only 28% of shoppers say it’s their go-to channel for finding gifts, down from 35% in 2024. In contrast, search engines (58%), online marketplaces (48%), and retailer websites (43%) now dominate the discovery landscape. Even traditional formats like TV and streaming video ads are resonating, influencing 12% of Gen X and 10% of millennials — outpacing blogs (7%) and podcasts (4%).

    TikTok and Instagram now rank lower than marketplace ads (38%) and email campaigns (34%) in their influence on gift discovery.

    Retailer Insight: Discovery is fragmenting. Shoppers are searching, streaming, and scrolling — but not necessarily where brands expect them to. Rebalance investments accordingly – return on retail media investments are dependent on quality product content.

    Boozy Gifts Take the Lead as Electronics Surge Stateside
    Alcohol is having a moment. This season, 36% of shoppers plan to gift beer, wine, or spirits, surpassing toys at 33%, pet products at 16%, and home improvement items at 19%. The trend is especially strong in the UK, where 46% plan to gift alcohol, compared to 25% in the U.S.

    Gen X leads the charge, followed by millennials. Domestic spirits and ready-to-drink cocktails are especially popular. With tariffs expected on imported liquor, prices may rise or availability may shrink by December.

    Fashion and apparel (54%), beauty and personal care (47%), and electronics (42%) remain among the top categories. But regional preferences stand out. U.S. shoppers are nearly twice as likely as their U.K. counterparts to gift electronics, while U.K. consumers favor food and drink.

    Retailer Insight: Booze has gone from bar cart to gift list. With global pricing pressures looming, now is the time to secure domestic supply and use creative messaging and bundling. Electronics brands should lean into U.S. demand, while U.K. retailers can win with premium food and beverage offerings.

    Shoppers Are Putting Their Money Where Their Values Are

    More than ever, shoppers are prioritizing meaning over markdowns. Sixty-one percent of consumers say they would pay more for holiday gifts from brands that reflect their values. That figure spikes to 75% for Gen Z, but the shift spans generations, even 50% of boomers say they’re willing to spend more on mission-aligned brands.

    Top value drivers include sustainability, ethical sourcing, social impact, and transparency.

    Retailer Insight: Shoppers are choosing gifts that reflect their identity. Don’t just say what you sell — show what you stand for.

    For more insights on the survey methodology and to download the full 2025 Consumer Holiday Shopping Report, visit here.

    About Salsify
    Salsify helps thousands of brand manufacturers, distributors, and retailers in over 140 countries collaborate to make every product experience matter. The company’s Product Experience Management (PXM) platform enables organizations to centralize all of their product content, connect to the commerce ecosystem, and automate business processes in order to deliver the best possible product experiences across every selling destination.

    Learn how the world’s largest brands, including Mars, L’Oreal, Coca-Cola, Bosch, and ASICS, as well as retailers and distributors, such as DoorDash, E.Leclerc, Carrefour, Metro, and Intermarché, use Salsify every day to drive efficiency, power growth, and lead the digital shelf. For more information, please visit: www.salsify.com.

    Media contact:
    Carolyn Adams
    carolyn@bluerunpr.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI: CareCloud Launches AI-Driven, Fully Integrated Dermatology EHR to Streamline Workflows and Enhance Patient Care

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., July 17, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO) (“CareCloud” or the “Company”), a leader in healthcare technology and generative AI solutions for medical practices and health systems nationwide, today announced the launch of its fully integrated, AI-driven dermatology EHR, designed to streamline clinical workflows and collections, while enhancing patient engagement and improving financial outcomes for dermatology practices.

    “Our fully integrated, AI-driven dermatology EHR empowers practices with modern tools that are developed for the unique practice workflows and needs of busy dermatology groups, and designed to enhance their efficiency, accuracy, and financial performance,” said Hadi Chaudhry, Co-CEO of CareCloud. “With dermatology services representing a $9 billion segment of the U.S. healthcare market, there’s a clear need for smarter, more efficient technology. By replacing outdated, fragmented systems, with our fully integrated AI-driven system, we are helping dermatologists streamline workflows and focus more on patient care.”

    “CareCloud’s Dermatology EHR provides many operational benefits,” said Dr. Neil Houston, dermatologist at Integrated Dermatology of Brookline. “The system helps reduce administrative time, streamline patient documentation, and improve billing efficiency—all of which contribute to my stronger overall practice performance.”

    CareCloud’s Dermatology EHR combines AI-driven documentation, advanced image management, and seamless integration with practice management, RCM, and telehealth into a single cloud-based platform. By eliminating outdated, fragmented systems, it reduces administrative burdens, enhances efficiency, and accelerates revenue from patient intake to final reimbursement. Scalable and secure, it adapts to the needs of solo practitioners, group practices, and multi-location clinics. With dermatology services representing an estimated $9 billion segment of the U.S. healthcare market in 2024, CareCloud’s AI-driven Dermatology EHR and RCM platform is well-positioned to support this growing specialty.

    Key Features of CareCloud’s End-to-End Dermatology EHR include:

    AI-Powered Charting & Customizable Templates – Reduce documentation time with customized, AI-driven dermatology templates for acne, eczema, psoriasis, melanoma, and more.
    Advanced Image Management & Annotation – Seamlessly upload, track, and annotate high-resolution images within patient records.
    Integrated Telehealth & Patient Portal – Enhance patient engagement with virtual consultations, online scheduling, and secure messaging.
    Optimized Billing & Revenue Cycle Management (RCM) – Maximize reimbursements with dermatology-specific coding, automated claim scrubbing, and cosmetic procedure billing.
    Seamless Interoperability – Connect with labs, pharmacies, and third-party systems for a unified practice experience.
    End-to-End Integration with CareCloud’s Ecosystem – A single platform that integrates EHR, practice management, RCM, analytics, and compliance tools to optimize the entire patient journey.

    Availability & Demo
    CareCloud Dermatology EHR is now available for dermatology providers nationwide. To learn more or schedule a personalized demo, visit carecloud.com/specialties/dermatology or contact 1-877-342-7517.

    About CareCloud
    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    For additional information, please visit our website at carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.

    Disclaimer
    This press release is for information purposes only and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

    Forward-Looking Statements
    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, and the expected results from the integration of our acquisitions. Past operational or stock price performance is not an indication of future performance.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network –

    July 18, 2025

  • MIL-OSI Europe: Commission decides to refer THE NETHERLANDS to the Court of Justice of the European Union for failing to comply with EU rules on the competitive award of rail public transport contracts

    Source: European Commission

    European Commission Press release Brussels, 17 July, 2025.  Today, the European Commission decided to refer the Netherlands to the Court of Justice for failing to correctly apply Regulation (EC) No. 1370/2007 on public passenger transport by road and rail.

    MIL OSI Europe News –

    July 18, 2025

  • MIL-OSI Analysis: Babies born with DNA from three people hailed as breakthrough – but questions remain

    Source: The Conversation – UK – By Cathy Herbrand, Professor of Medical and Family Sociology, De Montfort University

    Ten years after the UK became the first country to legalise mitochondrial donation, the first results from the use of these high-profile reproductive technologies – designed to prevent passing on genetic disorders – have finally been published.

    So far, eight children have been born, all reportedly healthy, thanks to the long-term efforts of scientists and doctors in Newcastle, England. Should this be a cause for excitement, disappointment or concern? Perhaps, I would suggest, it could be a bit of all three.

    The New England Journal of Medicine has published two papers on a groundbreaking fertility treatment that could prevent devastating inherited diseases. The technique, called mitochondrial donation, was used to help 22 women who carry faulty genes that would otherwise pass serious genetic disorders – such as Leigh syndrome – to their children. These disorders affect the body’s ability to produce energy at the cellular level and can cause severe disability or death in babies.

    The technique, developed by the Newcastle team, involves creating an embryo using DNA from three people: nuclear DNA from the intended mother and father, and healthy mitochondrial DNA from a donor egg. During the parliamentary debates leading up to The Human Fertilisation and Embryology (Mitochondrial Donation) Regulations in 2015, there were concerns about the effectiveness of the procedure and its potential side effects.

    The announcement that this technology has led to the birth of eight apparently healthy children therefore marks a major scientific achievement for the UK, which has been widely praised by numerous scientists and patient support groups. However, these results should not detract from some important questions they also raise.

    First, why has it taken so long for any updates on the application of this technology, including its outcomes and its limitations, to be made public? Especially given the significant public financial investment made into its development.

    In a country positioning itself as a leader in the governance and practice of reproductive and genomic medicine, transparency should be a central principle. Transparency not only supports the progress of other research teams but also keeps the public and patients well informed.

    Second, what is the significance of these results? While eight babies were born using this technology, this figure contrasts starkly with the predicted number of 150 babies per year likely to be born using the technique.

    The Human Fertilisation and Embryology Authority, the UK regulator in this area, has approved 32 applications since 2017 when the Newcastle team obtained its licence, but the technique was used with only 22 of them, resulting in eight babies. Does this constitute sufficiently robust data to prove the effectiveness of the technology and was it worth the considerable efforts and investments over almost two decades of campaigning, debate and research?

    As I wrote when this law was passed, officials should have been more realistic about how many people this treatment could actually help. By overestimating the number of patients who might benefit, they risked giving false hope to families who wouldn’t be eligible for the procedure.

    The safety question

    Third, is it safe enough? In two of the eight cases, the babies showed higher levels of maternal mitochondrial DNA, meaning the risk of developing a mitochondrial disorder cannot be ruled out. This potential for a “reversal” – where the faulty mitochondria reassert themselves – was also highlighted in a recent study conducted in Greece involving patients who used the technique to treat infertility problems.

    As a result, the technology is no longer framed by the Newcastle team as a way to prevent the transmission of mitochondrial disorders, but rather to reduce the risk. But is the risk reduction enough to justify offering the technique to more patients? And what will the risk of reassertion mean for the children born through it and their parents, who may live with the continuing uncertainty that the condition could emerge later in life?

    As some experts have suggested, it may be worth testing this technology on women who have fertility problems but don’t carry mitochondrial diseases. This would help doctors better understand the risks of the faulty mitochondria coming back, before using the technique only on women who could pass these serious genetic conditions to their children.

    This leads to a fourth question. What has been the patient experience with this technology? It would be valuable to know how many people applied for mitochondrial donation, why some were not approved, and, among those 32 approved cases, why only 22 proceeded with treatment.

    It also raises important questions about how patients who were either unable to access the technology, or for whom it was ultimately unsuccessful feel, particularly after investing significant time, effort and hope in the process. How do they come to terms with not having the healthy biological child they had been offered?

    This is not to say we shouldn’t celebrate these births and what they represent for the UK in terms of scientific achievement. The birth of eight healthy children represents a genuine scientific breakthrough that families affected by mitochondrial diseases have waited decades to see. However, some important questions remain unanswered, and more evidence is needed and it should be communicated in a timely manner to make conclusions about the long-term use of the technology.

    Breakthroughs come with responsibilities. If the UK wants to maintain its position as a leader in reproductive medicine, it must be more transparent about both the successes and limitations of this technology. The families still waiting to have the procedure – and those who may never receive it – deserve nothing less than complete honesty about what this treatment can and cannot deliver.

    Cathy Herbrand receives funding from the Economic and Social Research Council.

    – ref. Babies born with DNA from three people hailed as breakthrough – but questions remain – https://theconversation.com/babies-born-with-dna-from-three-people-hailed-as-breakthrough-but-questions-remain-261385

    MIL OSI Analysis –

    July 18, 2025

  • MIL-OSI United Kingdom: Measles advice17 July 2025 Public Health is urging Islanders to check they are up to date with their MMR vaccine schedule following the death of a child from measles in the UK. Measles is highly contagious. It can infect anyone… Read more

    Source: Channel Islands – Jersey

    17 July 2025

    Public Health is urging Islanders to check they are up to date with their MMR vaccine schedule following the death of a child from measles in the UK. 

    Measles is highly contagious. It can infect anyone at any age but can be particularly dangerous for those who are immunocompromised, pregnant, or very young. Islanders who are travelling abroad this year and those who will be going to university in September are also encouraged to get vaccinated against the disease.

    Islanders experiencing the below symptoms are urged to contact their doctor’s surgery by phone before getting healthcare advice in person. Typical symptoms include: 

    • cold-like symptoms, such as a runny nose, sneezing, and a cough, 
    • sore, red eyes that may be sensitive to light 
    • a high temperature (fever) 
    • a red-brown blotchy rash will appear after a few days. This usually starts on the face spreading to the rest of the body.

    Health Protection Nurse Advisor, Emma Baker, said: “The MMR vaccine is the safest and most effective way to protect yourself against measles, mumps, and rubella. The vaccine is given routinely in two doses to children by the time they are three years and four months. While Jersey has reassuring MMR vaccination coverage, we know a small number of Islanders have not had both doses. This puts them at risk, so I encourage all Islanders to make sure that they and their children are fully vaccinated.

    “Measles is circulating in parts of the UK and Europe, so please before you travel, we are calling all parents and guardians to make sure their children are up to date with their two MMR doses. Islanders who are unsure if they or their child have been fully vaccinated should contact their GP surgery or the Childhood Immunisations Team on 443741.”​​​

    MIL OSI United Kingdom –

    July 18, 2025

  • MIL-OSI United Kingdom: Jersey Crematorium services to temporarily relocate from Monday 1 September17 July 2025 From Monday 1 September, multi-faith and all non-religious funeral services held at Jersey Crematorium will be temporarily relocated from the existing Westmount Road location to the Members’ Room at… Read more

    Source: Channel Islands – Jersey

    17 July 2025

    From Monday 1 September, multi-faith and all non-religious funeral services held at Jersey Crematorium will be temporarily relocated from the existing Westmount Road location to the Members’ Room at the Royal Jersey Agricultural & Horticultural Society, RJA&HS, in Trinity. 

    Given the crematorium’s immediate proximity to the new Acute Hospital’s construction site, the temporary move is necessary to ensure services can continue to be conducted with dignity and respect during the most potentially impactful phases of the build. 

    Cremations, interments, and the use of the Garden of Remembrance will remain at the existing Westmount location, with the office and rose gardens open as usual. 

    Some minor works to the RJA&HS Members’ Room, which are being carried out by nine local contractors and suppliers, are underway in advance of the relocation to ensure services can continue with the same dignity and functionality as they do at the current crematorium site.

    Services at the RJA&HS will be held four days per week, similar to the current schedule, with the new temporary facility offering: 

    • up to 50 parking spaces, including accessible parking 
    • capacity for services to hold up to 100 mourners in the Members’ Room 
    • accessibility for wheelchair users and accessible for hearse and funeral cars 
    • exclusive use of the space, allowing mourners the same level of privacy that the current facility provides 
    • a private, off-road area for mourners to gather privately before and after services 
    • a location within a 15-minute drive of the crematorium. 

    The Government of Jersey will continue to engage closely with stakeholders and the public throughout the relocation and transition period, and a public awareness campaign to support the relocation will launch next month. 

    The Minister for Health and Social Services, Deputy Tom Binet, said: “Ensuring that Islanders can continue to say goodbye to loved ones in a respectful and dignified environment has been a key priority throughout the planning of the new Acute Hospital. The relocation of services to the RJA&HS site allows us to maintain that dignity once construction starts at Overdale in the months ahead, given the very close proximity of the crematorium to the building site.”

    The Minister for Infrastructure, Connétable Andy Jehan, said: “I would like to thank crematorium staff, the Crematorium User Group, and the RJA&HS for their collaboration, and I’m pleased that local contractors are playing a central role in delivering this important refurbishment work for the Island. 

    “I would like to emphasise that, while the service aspect of the funeral proceedings will be temporarily relocated, interments, cremations and the use of the Garden of Remembrance will remain at the existing Westmount location.”​

    MIL OSI United Kingdom –

    July 18, 2025

  • MIL-OSI United Kingdom: Giant avian clean-up job is moa than meets the eye

    Source: City of Leeds

    The skeletal remains of a giant bird which last walked the earth more than 500 years ago have been given a clean bill of health by museum curators in Leeds.

    The incredibly rare and complete bones of the heavy-footed moa, a huge flightless bird which once roamed parts of New Zealand, were carefully cleaned by experts at Leeds City Museum this week.

    Each of the skeleton’s delicate bones was meticulously inspected for any signs of dust and deterioration during the condition check.

    Driven to extinction by hunting and deforestation around 570 years ago, the remarkable species was one of the largest birds which ever existed, standing almost six feet tall and weighing more than 300 lbs.

    Named for its distinctive and enormous feet, the specimen on display in Leeds came to the city in 1868, when it was acquired by the then curator of the Leeds Philosophical and Literary Society Henry Denny.

    At that time the skeleton was known to be the only example of the species in the country outside the British Museum in London.

    Like many objects in the Leeds collection, it was damaged in 1941 after Philosophical Hall (the city’s museum), where it was originally on display, was bombed during World War II.

    In 2011, curators rediscovered the bird’s bones and after a full restoration, they were put on display in Leeds City Museum’s Collectors Cabinet.

    Clare Brown, Leeds Museums and Galleries’ curator of natural sciences, said: “The moa is a truly historic specimen which really captures the imagination and brings a completely different world inhabited by extinct and bizarre giants to life.

    “It’s also a tangible example of the potentially devastating impact which changing habitats, climates and hunting can have on fragile species and the ecosystems they live in. This was a species which walked the earth for thousands of years, but which completely disappeared within in a relatively short time of interacting with humans.

    “Having animals like this on display is not only a fascinating glimpse into a bygone era, it’s a thought-provoking reminder of our responsibility to do what we can to protect the natural world both now and in the future.”

    The moa is one of a number of extinct species on display at the museum including a dodo and giant Irish elk.

    Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said: “Having such an impressive collection of objects on display which capture the astonishing diversity of the animal kingdom both past and present can really help visitors understand our role in the natural world.

    “It’s important that these historic specimens are preserved and conserved for future generations to see, enjoy and be inspired by.”

    For more information about Leeds City Museum, please visit: Leeds City Museum | Leeds Museums and Galleries | Days out and exhibitions

    ENDS

    MIL OSI United Kingdom –

    July 18, 2025

  • Future in motion: India’s new dawn, powered by a new generation

    Source: Government of India

    Source: Government of India (2)

    ndia’s growth story is a story of youthful ascent. The country’s demographic dividend is at the core of the fastest-growing major economy in the world. It is expected to play a significant role in India’s promising economic future, when the global economy is projected to slow down. The world’s most populous nation, India is also the youngest among the major economies, with a median age of around 28 years.

    A McKinsey assessment, published in July 2024, puts the median age of the population in India at 27.6 years, a full decade younger than the citizens of most other major economies. Apart from contributing to increased productivity, the demographic dividend has the potential to transform the growth story on a positive social scale. If the nation’s productivity is harnessed well with the demographic advantage it has, and the working-age population base is properly skilled and productively employed, millions could be lifted not only above the poverty line but also be economically empowered.

    “In India, as with other G-20 economies, economic growth and business innovations will be critical to future economic inclusion; in fact, these levers could erase more than 90 percent of the empowerment gap. To put that in human terms, accelerated economic growth and business-led innovation alone could lift about 700 million people above the threshold by 2030,” says the report.

    What is the line of economic empowerment? As defined by the McKinsey Global Institute, being economically empowered means having a decent economic condition that affords a nutritious meal, good education and healthcare, a house that is owned with water and sanitation, and access to energy sources such as a power connection and means of transportation.

    Being economically empowered means having the value addition that life needs, going beyond the economic inclusion threshold. With a minimum of $12 per day in PPP terms, a person, after fulfilling their needs to sustain a good lifestyle, can also save money, meaning they are a level above the risk of falling into the poverty cycle again. The report said that globally there were 4.7 billion people (or 60% of the world’s population) not economically empowered as per this benchmark.

    Harnessing the demographic dividend is a calculated task, demanding sustained investment in education and the promotion of industrial collaboration, together with a thriving skilling system. The foundational ingredients of this requirement prime the nation for an era of unprecedented human-led growth.

    According to the Ministry of Skill Development and Entrepreneurship, 65% of India’s population is under 35 years of age, and the country has seen a significant positive change in the last decade in the headcount ratio available for employability. Before 2014, the country had 33.9% employable final- or pre-final-year students. This increased by over 17% to 51.3% in 2024.

    The current government in the country is focused on harnessing this demographic dividend, creating a pool of skilled and talented youth to support its national and industrial growth on India’s journey of outstanding economic growth.

    With an aim to become a developed country by 2047, the 100th year of its independence, with an economy crossing the $30 trillion mark in real GDP terms, the focus is on creating millions of trained and skilled youth ready for different industrial sectors. Many flagship training initiatives have been launched for this, including the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) scheme, Jan Shikshan Sansthan (JSS), and National Apprenticeship Promotion Scheme (NAPS), under the Skill India Mission (SIM), creating millions of trained and skilled youth so far.

    To put it in absolute numbers, over 60 million Indians have been empowered through various government initiatives, says data from the Ministry of Skill Development and Entrepreneurship, the Government of India. PMKVY has trained over 16 million youth across different sectors including advanced emerging training fields like AI, Robotics, and IoT. Last year, in October, another flagship scheme was launched, known as the Prime Minister’s Internship Scheme (PMIS). Under the scheme, one crore youth will be given paid internships of 12 months in India’s top 500 companies over five years.

    Also, a young population base as the core of economic growth will have a dual advantage. An assessment published by EY in April 2023 on India’s demographic dividend deciphers this potential advantage. A young population base means more hands to be trained and skilled. A young population base also means a more consumption-based headcount, a factor that is good for markets and the overall economy. Consumption grows. Economy grows.

    By 2030, India’s working-age population, among the major economies, will be the highest in the world, at 68.9% of its total population say the assessment. The country, then, will have 1.04 billion working-age people. It is, and will remain, the largest provider of human resources in the world, with the largest pool of STEM graduates (STEM: science, technology, engineering and mathematics), says the assessment. And it is an ever-widening pool, with an average annual addition of 2.14 million STEM graduates. India is also the country with the largest number of female STEM graduates. Earlier, the Western world dominated in having STEM graduates. Now it is the turn of emerging economies led by India.

    WorldSkills International, a Netherlands-based not-for-profit organisation with 80 member countries, conducts the WorldSkills Competition every two years with participants under the age of 23. It is the largest skill competition in the world.

    Over 50 skills under six sectors are the main focus areas – construction and building technology, transportation and logistics, manufacturing and engineering technology, information and communication technology, creative arts and fashion, and social and personal services. The outcome of the competition tests vocational excellence and sets a benchmark for high performance, and India’s position has seen a consistent improvement in its overall score tally on the overall points scorecard, from 16th in 2013 to fifth in 2024.

    The roadmap to the $30 trillion target runs directly through India’s burgeoning urban centres. The 2024-25 annual report from the NITI Aayog notes that cities already function as the nation’s primary economic engines, generating between 70% and 80% of the entire national output. Cities are hubs of industrial clusters, housing small-, medium- and large-sized industries, run by manpower engaged directly and indirectly.

    To further amplify this growth tool, or “making city regions growth hubs that can unlock their full potential” as the annual report says, the government launched the Growth Hub (G-Hub) initiative in 2023. “The Growth Hub (G-Hub) initiative aims to redefine urban planning for liveability and sustainability with pilot projects launched in Surat, Mumbai, Varanasi, and Visakhapatnam and blueprints approved for Surat and Mumbai,” the annual report adds. An increase in productivity means more skilled hands at work.

    As one of the most important tools to drive India’s growth, the pool of the country’s skilled youth completes the growth curve of its resilient economy, solid macroeconomic fundamentals, and vast domestic market. While external shocks will inevitably arise, the direction of the journey points firmly upward.

    July 18, 2025

  • MIL-OSI Russia: Shanghai Port Car Exports Exceed 1.27 Million Units in 1H25

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    SHANGHAI, July 17 (Xinhua) — Automobile exports via Shanghai Port exceeded 1.27 million units in the first half of 2025, up 13 percent year on year and accounting for 36.7 percent of China’s total automobile exports during the period, data from Shanghai Customs showed.

    The volume of automobile exports from Shanghai Port increased from 379 thousand units in 2020 to 2.39 million units in 2024, with an average annual growth rate of 58.4%.

    Exports via the Haitong International Automobile Terminal, located in Shanghai’s Waigaoqiao Port Area, reached 715,000 units in the first six months of this year, up 13.7 percent year on year. Export routes now cover 131 countries and regions around the world.

    Efficient logistics and simplified cargo clearance were key factors in the growth of automobile exports, Shanghai Customs said. -0-

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

    .

    MIL OSI Russia News –

    July 18, 2025

  • MIL-OSI United Nations: Programme management officer

    Source: UNISDR Disaster Risk Reduction

    Org. Setting and Reporting

    Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 140 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyzes action and increases global awareness to reduce disaster risk working with UN Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community.

    This position is located in the UNDRR Office in Bonn, Germany. The Programme Officer will report to the Head of the UNDRR Bonn Office under the overall guidance of the Chief, Risk Knowledge, Monitoring and Capacity-Development Branch.

    Responsibilities

    Within delegated authority, the incumbent will be responsible for the following duties: – 

    • Develops, implements and evaluates assigned systems programmes/projects of significant importance for the Department; monitors and analyses programme/project development and implementation; reviews relevant documents and reports; identifies problems and issues to be addressed and initiates corrective actions; liaises with relevant parties; ensures follow-up actions. In particular, oversees and supports the management and updating of the online monitoring system to track progress in the implementation of the Sendai Framework for Disaster Risk Reduction. Tracks and monitors project progress against plan, requirements, quality measures, standard processes; liaises with users on all aspects and during all phases.
    • Provides expert advice on complex systems analysis and design; identifies the need for new systems (or modifications to existing systems) or responds to requests from users; develops plans for feasibility assessment, requirements specification, design, development and implementation, including project plans, schedules, time and cost estimates, metrics and performance measures. –
    • Provides expert advice and coordinates the roll-out of the Disaster Tracking System in all Member States, liaising with the concerned regional offices. Keeps abreast of developments in the field and determines the need for testing and evaluating new products and technologies. –
    • Leads and coordinates the official reporting on Sendai Framework and SDGs, among others, and organizes and prepares written outputs, e.g. draft background papers, analysis, sections of reports and studies, inputs to publications, technical reports, including advance analytics using AI-based tools.
    • Develops, implements and monitors application of standards and guidelines. Oversees the preparation of technical and user documentation for systems; prepares training materials and detailed technical presentations including technical guidelines to support the reporting against the indicators to assess progress towards the targets of Sendai Framework, as recommended by the open-ended intergovernmental expert working group on indicators and terminology. Works in close collaboration with the UNDRR Global Education and Training Institute (GETI) in Incheon and contributes to the development of training modules on Sendai Framework Monitoring Process. Collaborates and coordinates closely with UNDRR Regional Offices in support of strengthening the capacity of Member States to use the online Sendai Framework Monitoring system and their ability to report against the indicators. –
    • Provides substantive backstopping to consultative and other meetings, conferences, etc., to include proposing agenda topics, identifying participants, preparation of documents and presentations, etc. –
    • Participates in planning and preparation of the budget, work program and spending plan of the Section and of the Branch. Contributes to activities related to budget funding (programme/project preparation and submissions, progress reports, financial statements, etc.) and prepares related documents/reports (pledging, work programme, programme budget, etc.). Develops cost proposals for contractual services, oversees the technical evaluation of proposals received and manages the contract service. Provides professional leadership and work direction to assigned project team, and/or mentor and supervises the work of new/junior officers, contract staff, etc. – Performs other duties as required.

    Competencies

    Professionalism: Knowledge and understanding of theories, concepts and approaches relevant to particular sector, functional area or other specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently. 

    Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable. 

    Client Orientation: Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view; establishes and maintains productive partnerships with clients by gaining their trust and respect; identifies clients’ needs and matches them to appropriate solutions; monitors ongoing developments inside and outside the clients’ environment to keep informed and anticipate problems; keeps clients informed of progress or setbacks in projects; meets timeline for delivery of products or services to client.

    Education

    An advanced university degree (Master’s degree or equivalent degree) in social sciences, management, economics, statistics or a related field is required. A first-level degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

    Work experience

    • A minimum of seven years of progressively responsible experience in project planning, implementation and monitoring or a related area is required.
    • Experience in disaster risk assessment and monitoring, and disaster risk reduction is required.
    • Experience in data management and statistics is desirable.

    Languages

    English and French are the working languages of the United Nations Secretariat. For the position advertised, fluency in English is required. Knowledge of French is desirable. Knowledge of another UN official language is desirable.

    Assessment

    Evaluation of qualified candidates may include an assessment exercise which will be followed by a competency-based interview.

    Special notice

    The appointment or assignment and renewal thereof are subject to the availability of the post or funds, budgetary approval or extension of the mandate. At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered.

    United Nations Considerations

    According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General. Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

    No Fee

    THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

    MIL OSI United Nations News –

    July 18, 2025

  • MIL-OSI Asia-Pac: Oyster Bay Station works suspended

    Source: Hong Kong Information Services

    The Government said today that foundation works at the proposed MTR Corporation (MTRC) Oyster Bay Station project on Lantau Island were suspended on Tuesday, after “upheaving” of more than 20mm was recorded at five nearby monitoring checkpoints.

    The upheaving was recorded during precautionary grouting works for socketed steel H-piles. The monitoring checkpoints were installed in accordance with the MTRC’s required railway protection procedures.

    These procedures are intended to facilitate monitoring of settlement data at nearby projects, thereby ensuring the structural safety of railway facilities and the railway’s safe operation.

    On Tuesday, upheaving of 22 to 48 mm was recorded at five monitoring checkpoints installed on a section of the MTRC’s Tung Chung Line railway tracks near Siu Ho Wan Depot, exceeding the pre-set 20mm trigger level for suspension of works.

    The relevant works were thus suspended on the same day, according to established procedures.

    The Buildings Department (BD) and the Electrical & Mechanical Services Department (EMSD) deployed staff to inspect the affected railway tracks at midnight that day.

    The BD confirmed that the supports for the railway tracks are structurally safe.

    The EMSD has reviewed the monitoring data and assessment report submitted by the MTRC in relation to the railway’s safe operation. It agreed with the assessment report and confirmed that the railway’s condition fulfils operational safety requirements.

    The upheaving has not affected the structural safety of railway facilities or the safe operation of the railway.

    The BD, the EMSD and the MTRC will continue to closely monitor the situation to ensure the structural safety of railway facilities and the railway’s safe operation.

    The BD and the MTRC have requested the registered building professionals responsible for the project to formulate mitigation measures and adopt a construction method that would alleviate possible effects on railway facilities.

    Upon receipt of proposed mitigation measures or amendment plans and of an application for resumption of works, the BD will rigorously scrutinise these.

    Meanwhile, the EMSD has requested that the MTRC implement stringent monitoring measures to ensure the railway’s safe operation.

    When the application for resumption of works has been approved, it will be announced to the public.

    MIL OSI Asia Pacific News –

    July 18, 2025

  • MIL-OSI Asia-Pac: Tender for re-opening of 3-year HKD HKSAR Institutional Government Bonds to be held on July 23

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
    The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (July 17) that a tender of 3-year HKD Institutional Government Bonds (Bonds) through the re-opening of existing 3-year Government Bond issue 03GB2804001 under the Infrastructure Bond Programme will be held on Wednesday, July 23, 2025, for settlement on Thursday, July 24, 2025.
     
    An additional amount of HK$2.0 billion of the outstanding 3-year Bonds (issue no. 03GB2804001) will be on offer. The Bonds will mature on April 25, 2028 and will carry interest at the rate of 2.76 per cent per annum payable semi-annually in arrear. The Indicative Pricings of the Bonds on July 17, 2025 are 101.77 with an annualised yield of 2.109 per cent.
     
    Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
     
    Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
     
    HKSAR Institutional Government Bonds Tender Information

    Tender information of re-opening of 3-year HKD HKSAR Institutional Government Bonds:
     

    Issue Number : 03GB2804001
    Stock Code : 4291 (HKGB 2.76 2804)
    Tender Date and Time : Wednesday, July 23, 2025
    9.30am to 10.30am
    Issue and Settlement Date : Thursday, July 24, 2025
    Amount on Offer : HK$2.0 billion
    Maturity : 3 years
    Remaining maturity : Approximately 2.76 years
    Maturity Date : Tuesday, April 25, 2028
    Interest Rate : 2.76 per cent p.a. payable semi-annually in arrear
    Interest Payment Dates : April 25 and October 25 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website.
    Method of Tender : Competitive tender
    Tender Amount : Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list.

    The accrued interest to be paid by successful bidders on the issue date (July 24, 2025) for the tender amount is HK$340.27 per minimum denomination of HK$50,000.

    (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).
    Other Details : Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers.
    Expected commencement date of dealing on
    the Stock Exchange
    of Hong Kong Limited    		 : The tender amount is fully fungible with the existing 03GB2804001 (Stock code: 4291) listed on the Stock Exchange of Hong Kong.
    Use of Proceeds : The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website.

    MIL OSI Asia Pacific News –

    July 18, 2025

  • MIL-OSI Asia-Pac: Appeal for information on missing woman in Wong Tai Sin (with photos)

    Source: Hong Kong Government special administrative region – 4

    Police today (July 17) appealed to the public for information on a woman who went missing in Wong Tai Sin.

    Kwok Oi-kwan, aged 18, went missing after she was last seen in a shopping mall on Junction Road, Wong Tai Sin on July 14 afternoon. Her family then made a report to Police.

    She is about 1.7 metres tall, 55 kilograms in weight and of medium build. She has a long face with yellow complexion, long black hair with a ponytail and a mole on left chin. She was last seen wearing a light blue shirt, black pants, white shoes, a pair of black glasses and carrying a red backpack.

    Anyone who knows the whereabouts of the missing woman or may have seen her is urged to contact the Regional Missing Persons Unit of Kowloon West on 3661 8036 or 9020 6542 or email to rmpu-kw@police.gov.hk, or contact any police station.

    MIL OSI Asia Pacific News –

    July 18, 2025

  • MIL-OSI Asia-Pac: SHYA visits Sichuan (with photos)

    Source: Hong Kong Government special administrative region – 4

    The Secretary for Home and Youth Affairs, Miss Alice Mak, began her visit to Sichuan today (July 17). She visited the Shenshuping Base of the China Conservation and Research Centre for the Giant Panda (CCRCGP) and the Wolong Natural Museum of the Giant Panda National Park. She also attended the closing ceremony of the 2025 Youth Internship Programme at Wolong Region of Giant Panda National Park.
     
    In the morning, Miss Mak visited the Shenshuping Base of the CCRCGP. Accompanied by the Hong Kong youth participating in the internship programme, she toured the facilities and the panda base which were rebuilt with Hong Kong’s support. The interns, who served as guides, gave a detailed presentation about nature conservation and the caring and rearing of giant pandas. Miss Mak then visited the Wolong Natural Museum of the Giant Panda National Park, where the interns shared with her their work experiences and the natural ecological conservation work of the Wolong National Nature Reserve.
     
    In the afternoon, Miss Mak attended the closing ceremony of the 2025 Youth Internship Programme at Wolong Region of Giant Panda National Park, witnessing 20 Hong Kong youth successfully completing their internship journeys. In her speech, Miss Mak said that the Home and Youth Affairs Bureau (HYAB) has collaborated with the Sichuan Wolong Nature Reserve Administration and the CCRCGP to organise the internship programme since 2017, providing Hong Kong youth with professional training and practical work experiences in nature conservation and ecotourism. She expressed gratitude to the Sichuan Provincial Bureau of Forestry and Grassland, the Wolong Nature Reserve Administration and the CCRCGP for their long-standing support towards Hong Kong youth development, enabling students to gain practical experience through their internships.
     
    Jointly organised by the HYAB and various Mainland official cultural, nature conservation and scientific research institutions, the HYAB Thematic Youth Internship Programmes to the Mainland, offers six internship programmes, providing over 110 specialised internship positions for Hong Kong youth. Among them, the six-week Youth Internship Programme at Wolong Region of Giant Panda National Park is one of the programmes where interns will be guided by experts and scholars in the Wolong National Nature Reserve in Sichuan, and take on roles such as field researchers, ecotour guides, museum docents, giant panda education ambassadors and ecological education promotion experts.
     
    Miss Mak will continue her visit to Sichuan tomorrow.

                                    

    MIL OSI Asia Pacific News –

    July 18, 2025

  • MIL-OSI Asia-Pac: Hong Kong’s COVID-19 activity declines to low level and private doctors will no longer be provided with free COVID-19 drugs

    Source: Hong Kong Government special administrative region – 4

    The Centre for Health Protection (CHP) of the Department of Health (DH) today (July 17) said that the recent periodic upsurge of COVID-19 in Hong Kong has ended, with relevant indicators declining to the low levels recorded before April this year. In view of the fact that COVID-19 has been managed in the same way as an upper respiratory tract illness and in response to the significant decrease in the demand for COVID-19 oral antiviral drugs, the special arrangement of providing free oral antiviral drugs to private doctors for prescribing to eligible patients, which has been in place during the pandemic, will be discontinued on July 29. The Government reminded the private doctors to make their own arrangements with the relevant drug dealer if they intend to provide patients with locally registered COVID-19 oral antiviral drugs. Meanwhile, the public medical service will continue to prescribe COVID-19 oral antiviral drugs to patients with clinical needs in accordance with the arrangement for general drugs.
     
    End of COVID-19’s periodic upsurge

    There was a drastic upsurge in the level of COVID-19 activity in Hong Kong since April of this year, reaching its peak in mid-May. According to the latest surveillance data (as of the week ending July 12), all indicators of COVID-19 activity have dropped back to the low levels recorded before April. For sewage surveillance, the per capita viral load of SARS-CoV-2 virus decreased from around 770 000 copy/litre in mid-May to around 140 000 copy/litre in the most recent week; the percentage of respiratory samples tested positive for the SARS-CoV-2 virus also dropped from a peak of 13.80 per cent to 2.53 per cent in the most recent week. 
     
    COVID-19 oral antiviral drugs
     
    COVID-19 has become a common respiratory viral infection. For the general public, symptoms of SARS-CoV-2 infections are generally mild. Meanwhile, the monthly average number of treatment courses of COVID-19 oral antiviral drugs prescribed by private doctors to eligible COVID-19 confirmed patients this year has dropped significantly compared to the past two years. Taking into account the above factors, the Government will end the special arrangement on July 29. This arrangement provided private doctors with free COVID-19 oral antiviral drugs for prescribing to eligible patients during the pandemic. Private doctors can still provide free prescriptions to eligible COVID-19 confirmed patients on or before July 28.
     
    The Government reminded private doctors that if they intend to provide patients with COVID-19 oral antiviral drug registered in Hong Kong, they can order them directly from the drug dealer, prescribe the drug to patients and charge them. Members of the public with clinical needs may continue to make appointments for general out-patient clinic (GOPC) services through the GOPC Telephone Appointment System or the “Book GOPC” function on the Hospital Authority’s (HA) one-stop mobile application “HA Go”. GOPCs under the HA will continue to prescribe the relevant drugs to eligible COVID-19 confirmed patients with clinical needs according to their treatment guidelines. For more details of the GOPC services, please visit the GOPC website: www.ha.org.hk/goto/gopc/en.
     
    During the COVID-19 pandemic, the Government has been providing two COVID-19 oral antiviral drugs, procured by the HA, to private doctors for free prescription to eligible COVID-19 confirmed patients with clinical needs since April 2022. This arrangement was intended to mobilise all available healthcare manpower, including private doctors, for anti-epidemic support during the raging epidemic. Private doctors who have registered with the Electronic Health Record Sharing System could request the provision of the COVID-19 oral antiviral drugs via a dedicated online platform. They must follow the relevant treatment guidelines set out by the HA and are not allowed to charge their patients any fees for the COVID-19 oral antiviral drugs. As of June 30 this year, approximately 200 000 treatment courses were prescribed by private doctors to eligible COVID-19 confirmed patients for free.
     
    Severe COVID-19 cases primarily affect the elderly, the children and individuals with underlying illnesses. Scientific data has conclusively proven that the COVID-19 vaccine is effective in minimising the risk of severe disease or death. Members of the public who have not received the initial dose of the COVID-19 vaccine (including infants and children) should get vaccinated timely. Those at high risk should receive a booster dose as soon as possible. For more information on COVID-19 vaccination, please visit COVID-19 Vaccination Programme webpage. Although the periodic upsurge of COVID-19 has ended, there has been an upward trend in local influenza activity in Hong Kong recently. Members of the public should remain vigilant and maintain stringent personal, environmental and hand hygiene at all times.

    MIL OSI Asia Pacific News –

    July 18, 2025
←Previous Page
1 … 147 148 149 150 151 … 2,663
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress