Author: Newsdesk

AUSTIN, Texas, Jan. 26, 2026 (GLOBE NEWSWIRE) — via IBN – GridAI Technologies Corp. (NASDAQ: GRDX), a company operating at the intersection of artificial intelligence and energy infrastructure, has engaged IBN, a multifaceted financial news and publishing company serving private and public entities, to assist with its corporate communications strategy.

Following its acquisition of Grid AI Corp., GridAI Technologies is focused on enabling more flexible, resilient, and economically optimized electricity systems by coordinating generation, storage, and demand in real time through software-driven control. The company’s approach integrates with existing energy hardware, allowing large power users, specifically AI data center hyperscalers, as well as utilities and energy retailers, to manage increasingly volatile electricity loads without requiring extensive new physical infrastructure.

As power systems face increasing volatility driven by electrification, electric vehicles, and AI-driven computing, GridAI Technologies delivers intelligent energy-orchestration solutions designed to improve reliability, cost efficiency, and system flexibility. By enabling real-time coordination across distributed energy resources, the platform is positioned to support modern power environments facing dynamic demand and constrained infrastructure.

As part of the client-partner relationship, IBN will leverage its investor-focused distribution network, which includes over 5,000 key syndication outlets, various newsletters, social media channels, and wire services via InvestorWire, along with blogs and other outreach tools, to generate greater awareness for GridAI Technologies.

With over 20 years of experience assisting over 500 client partners and a sizable family of 75+ trusted brands, IBN has amassed a collective audience that includes millions of social media followers. This positions IBN to provide GridAI Technologies the solutions needed to reach a wide audience of investors, journalists, and the general public.

To learn more about GridAI Technologies, please visit the company’s corporate newsroom at https://ibn.fm/GRDX

About GridAI Technologies Corp.

GridAI Technologies Corp. is a publicly listed company on the Nasdaq. The company is a diversified technology and life sciences company advancing opportunities at the intersection of artificial intelligence and energy infrastructure following its acquisition of Grid AI Inc. In addition to its GridAI operations, the company (formerly Entero Therapeutics Inc.) continues to advance its late clinical-stage biopharmaceutical program focused on the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases.

For more information, visit the company’s website at https://Grid-AI.com

About IBN

IBN
 consists of financial brands introduced to the investment public over the course of 20+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Through our Dynamic Brand Portfolio (DBP), IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) Press Release Enhancement to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) total news coverage solutions.

For more information, please visit https://www.InvestorBrandNetwork.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

Corporate Communications

IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
[email protected]

EAU CLAIRE, Wis., Jan. 26, 2026 (GLOBE NEWSWIRE) — Citizens Community Bancorp, Inc. (the “Company”) (Nasdaq: CZWI), the parent company of Citizens Community Federal N.A. (the “Bank” or “CCFBank”), today reported earnings of $4.3 million and earnings per diluted share of $0.44 for the fourth quarter ended December 31, 2025, compared to $3.7 million and earnings per diluted share of $0.37 for the third quarter ended September 30, 2025, and $2.7 million and $0.27 earnings per diluted share for the quarter ended December 31, 2024, respectively. For the twelve months ended December 31, 2025, the Company reported earnings of $14.4 million and earnings per diluted share of $1.46 compared to the prior year period of $13.8 million and earnings per diluted share of $1.34.

The Company’s improved fourth quarter 2025 operating results reflected the following changes from the third quarter of 2025: (1) loan growth of $17.3 million, or 1.3% and deposit growth of $43.5 million, or 2.9%; (2) a decrease in net interest income of $0.1 million, largely due to a decrease of $0.4 million in the recognition of interest income in the third quarter from loan payoffs; (3) lower provision for credit losses of $0.2 million compared to a $0.7 million provision in the third quarter; (4) lower non-interest income of $0.3 million; (5) lower non-interest expense of $0.4 million; (6) lower tax expense of $0.2 million due to a lower effective tax rate realized through purchased tax credits; and (7) fewer shares outstanding due to the repurchase of approximately 250,000 shares during the quarter.

Book value per share improved to $19.54 at December 31, 2025, compared to $18.95 at September 30, 2025, and $17.94 at December 31, 2024. Tangible book value per share (non-GAAP)¹ was $16.23 at December 31, 2025, compared to $15.71 at September 30, 2025, and increased 10.5% from $14.69 at December 31, 2024, with dividends paid of 2.45% of the December 31, 2024 tangible book value. Since December 31, 2024, the Company has paid dividends to shareholders totaling $0.36 per share. For the fourth quarter of 2025, the increase in tangible book value was primarily due to the increase in net income in the quarter, along with the impact of lower unrealized losses on the available for sale investment portfolio. Stockholders’ equity as a percentage of total assets was 10.55% at December 31, 2025, compared to 10.82% at September 30, 2025, with the decline largely due to modest asset growth. Tangible common equity (“TCE”) as a percent of tangible assets (non-GAAP)¹ decreased to 8.92% at December 31, 2025, compared to 9.13% at September 30, 2025.

“We utilized our capital strength to enhance shareholder value early in the quarter by repurchasing approximately 250,000 shares at an average price less than tangible book value, and the Board voted to declare a quarterly dividend replacing the ‘thrift like’ annual dividend in prior years.” stated Stephen Bianchi, Chairman, President and Chief Executive Officer. “Loan growth returned in the quarter and the pipeline looked promising entering 2026. We remained focused on growing our customer base, and specifically deposits, as noted in the YOY growth of $44 million. With the improved quality of our deposit base and as loans originated during the pandemic come due for pricing adjustments, we anticipate continued NIM expansion which should result in stronger earnings.”

December 31, 2025, Highlights: 

• Quarterly earnings were $4.3 million, or $0.44 per diluted share for the quarter ended December 31, 2025, an increase compared to earnings of $3.7 million, or $0.37 per diluted share for the quarter ended September 30, 2025, and an increase from $2.7 million, or $0.27 per diluted share for the quarter ended December 31, 2024.
• For the twelve months ended December 31, 2025, earnings were $14.4 million or $1.46 per diluted share compared to $13.8 million or $1.34 per diluted share for the twelve-month period ending December 31, 2024. The increase in earnings for the twelve-month period primarily relates to the increase in net interest income, partially offset by provisions for credit losses for the most recent twelve-month period versus negative provisions for credit losses during the twelve-month period ending December 31, 2024.
• Net interest income decreased $0.1 million to $13.1 million for the current quarter ended December 31, 2025, from $13.2 million for the quarter ended September 30, 2025, and increased from $11.7 million for the quarter ended December 31, 2024. The decrease in net interest income from the third quarter of 2025 was primarily due to a net decrease of $0.4 million, or 8 basis points (“bps”), related to loan payoffs in the third quarter of nonperforming loans and payoffs of loans with purchase accretion.
• The net interest margin decreased 5 bps to 3.15% for the quarter ended December 31, 2025, compared to the quarter ended September 30, 2025, and increased 36 bps from the quarter ended December 31, 2024. The decrease in net interest margin from lower loan payoffs discussed above, was partially offset by lower deposit costs, or an increase in the net interest margin of 6 bps. The growth in lower yielding interest-bearing cash also decreased the net interest margin by 3 bps.
• The provision for credit losses was $0.20 million for the quarter ended December 31, 2025, compared to a provision for credit losses of $0.65 million for the third quarter, and a negative provision for credit losses of $0.45 million during the quarter ended December 31, 2024. Factors affecting the December 31, 2025, provision for credit losses include: (1) the impact of loan growth; and (2) decreases in delinquent loans offset by increases of reserves on impaired loans. The allowance for credit losses on loans was $22.4 million or 141% of total nonperforming loans and 1.67% of total loans.
• Non-interest income decreased by $0.3 million in the fourth quarter of 2025 to $2.7 million from $3.0 million the prior quarter, and increased $0.7 million from $2.0 million in the fourth quarter of 2024. The decrease in the fourth quarter of 2025, from the third quarter of 2025, was primarily due to lower gains on sale of loans, partially offset by net gains on equity securities. The increase of non-interest income in the fourth quarter of 2025, from the fourth quarter of 2024, was primarily due to higher gains on sale of loans and net gains on equity securities.
• Non-interest expense decreased $0.4 million to $10.7 million from $11.1 million for the previous quarter and decreased $0.1 million from $10.8 million for the fourth quarter of 2024. The decrease in non-interest expense compared to the linked quarter was largely due to lower compensation items, primarily due to lower medical costs on the Company’s self-insured medial plan and lower data processing expense from improved negotiations with the service provider. The $0.1 million decrease from the fourth quarter of 2024, was largely due to lower data processing expenses.
• The effective tax rate was 12.6% for the quarter ended December 31, 2025, compared to 18.8% for the quarter ended September 30, 2025, and 19.5% for the quarter ended December 31, 2024. The decrease in the effective tax rate in the fourth quarter of 2025 was largely due to the full year impact of a new tax credit investment which partially funded in the fourth quarter of 2025, with final funding in 2026.
• Loans receivable increased $17.3 million during the fourth quarter ended December 31, 2025, to $1.340 billion compared to the prior quarter end. The increase was largely due to a growth in new multi-family and C&I loan originations from the third quarter.
• Nonperforming assets were flat at $16.7 million at December 31, 2025 and at September 30, 2025, respectively.
• Special mention loans increased $11.6 million to $24.5 million at December 31, 2025, from $12.9 million at September 30, 2025. The increase was largely due to two separate commercial real estate relationships totaling $6 million and $5 million, each.
• Substandard loans increased $0.1 million to $21.4 million at December 31, 2025, from September 30, 2025.
• Total deposits increased $43.5 million during the quarter ended December 31, 2025, to $1.524 billion. This was largely due to growth in retail consumer deposits of $33.9 million and seasonal growth in public deposits of $12.1 million.
• The efficiency ratio was 68% for the quarter ended December 31, 2025, compared to 67% for the quarter ended September 30, 2025.
• On January 22, 2026, the Board of Directors approved a quarterly dividend of $0.105 per share. The quarterly dividend, subject to future Board approvals, is intended to replace the Company’s former annual dividend. The dividend will be payable on February 20, 2026, to shareholders of record on February 6, 2026.
• On July 24, 2025, the Board of Directors authorized a new 5% common stock buyback authorization, or 499 thousand shares. The Company repurchased approximately 250 thousand shares during the quarter ended December 31, 2025, at an average price of $15.99 per share. Approximately 113 thousand shares remained available to purchase under this authorization as of December 31, 2025.

Balance Sheet and Asset Quality

Total assets increased by $54.8 million during the quarter to $1.782 billion at December 31, 2025.

Cash and cash equivalents increased $36.4 million as interest-bearing cash increased due to cash provided by deposit increases, partially offset by loan growth.

The on-balance sheet liquidity ratio, which is defined as the fair market value of available for sale (“AFS”) and held to maturity (“HTM”) securities that are not pledged and cash on deposit with other financial institutions, was 14.8% of total assets at December 31, 2025, compared to 13.4% at September 30, 2025. On-balance sheet liquidity, collateralized new borrowing capacity, and uncommitted federal funds borrowing availability was $792 million, or 243%, of uninsured and uncollateralized deposits at December 31, 2025, and $741 million, or 267% at September 30, 2025.

AFS securities decreased $3.5 million during the quarter ended December 31, 2025, to $134.1 million from $137.6 million at September 30, 2025. The decrease was largely related to corporate debt security redemptions of $5.0 million, and principal repayments of $2.5 million, partially offset by purchases of new corporate debt securities of $3 million and a decrease in the unrealized loss on AFS securities of $1.0 million.

HTM securities decreased $1.3 million to $80.2 million during the quarter ended December 31, 2025, from $81.5 million at September 30, 2025, due to principal repayments.

Loans receivable increased $17.3 million during the fourth quarter ended December 31, 2025, to $1.340 billion compared to the prior quarter end as loan growth was realized in multi-family loans and C&I loans.

The office loan portfolio consisting of seventy-one loans totaled $32 million at December 31, 2025, compared to seventy-one loans totaling $26 million at September 30, 2025. Criticized loans in the office loan portfolio for the quarter ended December 31, 2025, totaled $0.2 million, compared to $0.2 million at September 30, 2025, and there have been no charge-offs in the trailing twelve months.

The allowance for credit losses on loans increased by $0.2 million to $22.4 million at December 31, 2025, representing 1.67% of total loans receivable compared to 1.68% of total loans receivable at September 30, 2025. The provision for credit losses was $0.20 million for the quarter ended December 31, 2025, compared to a provision for credit losses of $0.65 million for the quarter ended September 30, 2025, and a negative provision for credit losses of $0.45 million for the quarter ended December 31, 2024. Factors affecting the December 31, 2025, provision for credit losses include: (1) the impact of loan growth; and (2) decreases in delinquent loans offset by increases of reserves on impaired loans.

Allowance for Credit Losses (“ACL”) – Loans Percentage
(in thousands, except ratios)

		December 31, 2025				September 30, 2025				June 30, 2025				December 31, 2024
Loans, end of period		$	1,340,325			$	1,323,010			$	1,345,620			$	1,368,981
Allowance for credit losses – Loans		$	22,401			$	22,182			$	21,347			$	20,549
ACL – Loans as a percentage of loans, end of period			1.67	%			1.68	%			1.59	%			1.50	%

In addition to the ACL – Loans, the Company has established an ACL – Unfunded Commitments of $0.490 million at December 31, 2025, $0.493 million at September 30, 2025, and $0.334 million at December 31, 2024, classified in other liabilities on the consolidated balance sheets.

Allowance for Credit Losses – Unfunded Commitments:

(in thousands)

		December 31, 2025 and Three Months Ended				December 31, 2024 and Three Months Ended				December 31, 2025 and Twelve Months Ended				December 31, 2024 and Twelve Months Ended
ACL – Unfunded commitments – beginning of period		$	493			$	460			$	334			$	1,250
Additions (reductions) to ACL – Unfunded commitments via provision for credit losses charged to operations			(3	)			(126	)			156				(916	)
ACL – Unfunded commitments – end of period		$	490			$	334			$	490			$	334

Nonperforming assets were flat at $16.7 million at December 31, 2025 and at September 30, 2025, respectively.

Special mention loans increased $11.6 million to $24.5 million at December 31, 2025, from $12.9 million at September 30, 2025. The increase was largely due to two separate commercial real estate relationships totaling $6 million and $5 million, each.

Substandard loans increased $0.1 million to $21.4 million at December 31, 2025, from September 30, 2025.

		(in thousands)
		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Special mention loan balances		$	24,473			$	12,920			$	23,201			$	14,990			$	8,480
Substandard loan balances			21,388				21,310				17,922				19,591				18,891
Criticized loans, end of period		$	45,861			$	34,230			$	41,123			$	34,581			$	27,371

Deposit Portfolio Composition

(in thousands)

		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Consumer deposits		$	889,109			$	855,226			$	856,467			$	861,746			$	852,083
Commercial deposits			422,605				423,662				406,608				423,654				412,355
Public deposits			187,777				175,689				190,933				211,261				190,460
Wholesale deposits			24,608				25,977				24,408				26,993				33,250
Total deposits		$	1,524,099			$	1,480,554			$	1,478,416			$	1,523,654			$	1,488,148

At December 31, 2025, the deposit portfolio composition was largely unchanged from the prior quarter at 58% consumer, 28% commercial, 12% public, and 2% wholesale deposits.

Deposit Composition By Type

(in thousands)

		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Non-interest-bearing demand deposits		$	264,394			$	262,535			$	260,248			$	253,343			$	252,656
Interest-bearing demand deposits			367,958				360,475				366,481				386,302				355,750
Savings accounts			151,525				157,317				159,340				167,614				159,821
Money market accounts			392,900				354,290				357,518				370,741				369,534
Certificate accounts			347,322				345,937				334,829				345,654				350,387
Total deposits		$	1,524,099			$	1,480,554			$	1,478,416			$	1,523,654			$	1,488,148

Uninsured and uncollateralized deposits were $323.5 million, or 21% of total deposits at December 31, 2025, and $277.7 million, or 19% of total deposits at September 30, 2025. Uninsured deposits alone at December 31, 2025, were $478.4 million, or 31% of total deposits and $421.5 million, or 28% of total deposits at September 30, 2025.

Federal Home Loan Bank advances remained at $0 at December 31, 2025, and at September 30, 2025, and decreased $5.0 million from December 31, 2024.

The Company repurchased approximately 250 thousand shares at an average all in price of $15.99 per share during the quarter ended December 31, 2025. There remained approximately 113 thousand shares available to repurchase under the current buyback authorization plan as of December 31, 2025. This share repurchase authorization does not oblige the Company to repurchase any shares of its common stock.

Review of Operations

Net interest income decreased $0.1 million to $13.1 million for the current quarter ended December 31, 2025, from $13.2 million for the quarter ended September 30, 2025, and increased from $11.7 million for the quarter ended December 31, 2024. The decrease in net interest income from the third quarter of 2025 was primarily due to a net decrease of $0.4 million, or 8 bps, related to loan payoffs in the third quarter of nonperforming loans and payoffs of loans with purchase accretion. Lower liability costs improved net interest income $0.3 million, or an increase in the net interest margin of 6 bps. This benefit was partially offset by the impact of lower net interest margin on the increase in interest-bearing cash, or 3 bps.

Net interest income and net interest margin analysis:

(in thousands, except yields and rates)

		Three months ended
		December 31, 2025							September 30, 2025							June 30, 2025							March 31, 2025							December 31, 2024
		Net Interest Income				Net Interest Margin			Net Interest Income				Net Interest Margin			Net Interest Income				Net Interest Margin			Net Interest Income				Net Interest Margin			Net Interest Income				Net Interest Margin
As reported		$	13,065			3.15	%		$	13,214			3.20	%		$	13,311			3.27	%		$	11,594			2.85	%		$	11,708			2.79	%
Less scheduled accretion for PCD loans			(5	)		—	%			(17	)		—	%			(23	)		(0.01	)%			(36	)		(0.01	)%			(42	)		(0.01	)%
Less paid loan accretion for PCD loans			—			—	%			(133	)		(0.03	)%			(416	)		(0.10	)%			—			—	%			—			—	%
Less scheduled accretion interest			—			—	%			(30	)		(0.01	)%			(33	)		(0.01	)%			(33	)		(0.01	)%			(33	)		(0.01	)%
Without loan purchase accretion		$	13,060			3.15	%		$	13,034			3.16	%		$	12,839			3.15	%		$	11,525			2.83	%		$	11,633			2.77	%

The table below shows the impact of certificate, loan and securities contractual fixed rate maturing and repricing.

Portfolio Contractual Repricing:

(in millions, except yields)

		Q1 2026				Q2 2026				Q3 2026				Q4 2026				Q1 2027				Q2 2027				Q3 2027				Q4 2027
Maturing Certificate Accounts:
Contractual Balance		$	136			$	101			$	67			$	26			$	14			$	—			$	—			$	—
Contractual Interest Rate			4.02	%			3.83	%			3.86	%			3.70	%			3.62	%			—	%			—	%			—	%
Maturing or Repricing Loans:
Contractual Balance		$	22			$	83			$	110			$	101			$	59			$	62			$	43			$	71
Contractual Interest Rate			5.37	%			6.11	%			3.67	%			4.00	%			4.22	%			4.29	%			4.29	%			5.33	%
Maturing or Repricing Securities:
Contractual Balance		$	2			$	7			$	7			$	3			$	3			$	—			$	4			$	—
Contractual Interest Rate			3.72	%			3.57	%			3.44	%			3.27	%			3.31	%			—	%			5.93	%			—	%

Non-interest income decreased by $0.3 million in the fourth quarter of 2025, to $2.7 million from $3.0 million the prior quarter and increased $0.7 million from $2.0 million in the fourth quarter of 2024. The decrease in the fourth quarter of 2025 from the third quarter of 2025 was primarily due to lower gains on sale of loans, partially offset by net gains on equity securities. The increase of non-interest income in the fourth quarter of 2025 from the fourth quarter of 2024 was primarily due to higher gains on sale of loans and net gains on equity securities.

Non-interest expense decreased $0.4 million to $10.7 million from $11.1 million for the previous quarter and decreased $0.1 million from $10.8 million for the fourth quarter of 2024. The decrease in non-interest expense compared to the linked quarter was largely due to lower compensation items, primarily due to lower medical costs on the Company’s self-insured medial plan, and lower data processing expenses. The decrease from the fourth quarter of 2024 was largely due to lower data processing expenses.

Provision for income taxes was $0.6 million in the fourth quarter of 2025 compared to $0.9 million in the third quarter of 2025. The effective tax rate was 12.6% for the quarter ended December 31, 2025, 18.8% for the quarter ended September 30, 2025, and 19.5% for the quarter ended December 31, 2024. The decrease in the effective tax rate in the fourth quarter of 2025 was largely due to the full year impact of a newly purchased tax credit investment which partially funded in the fourth quarter of 2025, with final funding in 2026. The expected additional funding of this tax credit is expected to lower the Company’s effective tax rate from statutory levels quarterly in 2026, although at a smaller magnitude from the full year impact in the fourth quarter of 2025.

Certain items previously reported may be reclassified for consistency with the current presentation. These financial results are preliminary until the Form 10-K is filed in March 2026.

About the Company

Citizens Community Bancorp, Inc. (NASDAQ: “CZWI”) is the holding company of the Bank, a national bank based in Altoona, Wisconsin, currently serving customers primarily in Wisconsin and Minnesota through 21 branch locations. Its primary markets include the Chippewa Valley Region in Wisconsin, the Twin Cities and Mankato markets in Minnesota, and various rural communities around these areas. The Bank offers traditional community banking services to businesses, ag operators and consumers, including residential mortgage loans.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this release are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “estimates,” “intend,” “may,” “on pace,” “preliminary,” “planned,” “potential,” “should,” “will,” “would” or the negative of those terms or other words of similar meaning. Such forward-looking statements in this release are inherently subject to many uncertainties arising in the operations and business environment of the Company and the Bank. These uncertainties include: conditions in the financial markets and economic conditions generally; the impact of inflation on our business and our customers; geopolitical tensions, including current or anticipated impact of military conflicts; higher lending risks associated with our commercial and agricultural banking activities; future pandemics (including new variants of COVID-19); cybersecurity risks; adverse impacts on the regional banking industry and the business environment in which the Company and the Bank operate; interest rate risk; lending risk; changes in the fair value or ratings downgrades of our securities; the sufficiency of allowance for credit losses; competitive pressures among depository and other financial institutions; disintermediation risk; our ability to maintain our reputation; our ability to maintain or increase our market share; our ability to realize the benefits of net deferred tax assets; our ability to obtain needed liquidity; our ability to raise capital needed to fund growth or meet regulatory requirements; our ability to attract and retain key personnel; our ability to keep pace with technological change; prevalence of fraud and other financial crimes; the possibility that our internal controls and procedures could fail or be circumvented; our ability to successfully execute our acquisition growth strategy; risks posed by acquisitions and other expansion opportunities, including difficulties and delays in integrating the acquired business operations or fully realizing the cost savings and other benefits; restrictions on our ability to pay dividends; the potential volatility of our stock price; accounting standards for credit losses; legislative or regulatory changes or actions, or significant litigation, adversely affecting the Company or Bank; public company reporting obligations; changes in federal or state tax laws; and changes in accounting principles, policies or guidelines and their impact on financial performance. Stockholders, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Such uncertainties and other risks that may affect the Company’s performance are discussed further in Part I, Item 1A, “Risk Factors,” in the Company’s Form 10-K, for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 13, 2025, and the Company’s subsequent filings with the SEC. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this news release or to update them to reflect events or circumstances occurring after the date of this release.

¹
Non-GAAP Financial Measures

This press release contains non-GAAP financial measures, such as tangible book value, tangible book value per share, tangible common equity as a percent of tangible assets and return on average tangible common equity, which management believes may be helpful in understanding the Company’s results of operations or financial position and comparing results over different periods.

Tangible book value, tangible book value per share, tangible common equity as a percentage of tangible assets and return on average tangible common equity are non-GAAP measures that eliminate the impact of goodwill and intangible assets on our financial position. Management believes these measures are useful in assessing the strength of our financial position.

Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other banks and financial institutions.

Contact: Steve Bianchi, CEO
(715)-836-9994

(CZWI-ER)

CITIZENS COMMUNITY BANCORP, INC. Consolidated Balance Sheets (in thousands, except share data)
		December 31, 2025 (unaudited)				September 30, 2025 (unaudited)				June 30, 2025 (unaudited)				December 31, 2024 (audited)
Assets
Cash and cash equivalents		$	118,853			$	82,431			$	67,454			$	50,172
Securities available for sale “AFS”			134,103				137,639				134,773				142,851
Securities held to maturity “HTM”			80,210				81,526				83,029				85,504
Equity investments			5,840				5,675				5,741				4,702
Other investments			12,506				12,370				12,379				12,500
Loans receivable			1,340,325				1,323,010				1,345,620				1,368,981
Allowance for credit losses			(22,401	)			(22,182	)			(21,347	)			(20,549	)
Loans receivable, net			1,317,924				1,300,828				1,324,273				1,348,432
Loans held for sale			4,954				5,346				6,063				1,329
Mortgage servicing rights, net			3,494				3,532				3,548				3,663
Office properties and equipment, net			16,357				16,244				16,357				17,075
Accrued interest receivable			6,126				6,159				6,123				5,653
Intangible assets			395				508				621				979
Goodwill			31,498				31,498				31,498				31,498
Foreclosed and repossessed assets, net			857				911				895				915
Bank owned life insurance (“BOLI”)			26,908				26,700				26,494				26,102
Other assets			21,730				15,620				15,916				17,144
TOTAL ASSETS		$	1,781,755			$	1,726,987			$	1,735,164			$	1,748,519
Liabilities and Stockholders’ Equity
Liabilities:
Deposits		$	1,524,099			$	1,480,554			$	1,478,416			$	1,488,148
Federal Home Loan Bank (“FHLB”) advances			—				—				—				5,000
Other borrowings			51,804				46,762				61,722				61,606
Other liabilities			17,913				12,856				11,564				14,681
Total liabilities			1,593,816				1,540,172				1,551,702				1,569,435
Stockholders’ Equity:
Common stock — $0.01 par value, authorized 30,000,000; 9,617,245, 9,856,745, 9,991,997, and 9,981,996 shares issued and outstanding, respectively			96				99				100				100
Additional paid-in capital			110,315				113,030				114,537				114,564
Retained earnings			89,995				86,913				83,709				80,840
Accumulated other comprehensive loss			(12,467	)			(13,227	)			(14,884	)			(16,420	)
Total stockholders’ equity			187,939				186,815				183,462				179,084
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	1,781,755			$	1,726,987			$	1,735,164			$	1,748,519

CITIZENS COMMUNITY BANCORP, INC. Consolidated Statements of Operations (in thousands, except per share data)
		Three Months Ended												Twelve Months Ended
		December 31, 2025 (unaudited)				September 30, 2025 (unaudited)				December 31, 2024 (unaudited)				December 31, 2025 (unaudited)				December 31, 2024 (audited)
Interest and dividend income:
Interest and fees on loans		$	19,034			$	19,759			$	19,534			$	77,500			$	79,738
Interest on cash and investments			2,737				2,495				2,427				10,130				9,877
Total interest and dividend income			21,771				22,254				21,961				87,630				89,615
Interest expense:
Interest on deposits			7,998				8,220				9,273				33,102				37,985
Interest on FHLB borrowed funds			—				1				65				13				1,281
Interest on other borrowed funds			708				819				915				3,331				3,875
Total interest expense			8,706				9,040				10,253				36,446				43,141
Net interest income before provision for credit losses			13,065				13,214				11,708				51,184				46,474
Provision (provision reversal) for credit losses			200				650				(450	)			1,950				(3,175	)
Net interest income after provision for credit losses			12,865				12,564				12,158				49,234				49,649
Non-interest income:
Service charges on deposit accounts			459				449				450				1,763				1,924
Interchange income			539				565				550				2,186				2,247
Loan servicing income			593				649				520				2,366				2,271
Gain on sale of loans			514				992				218				2,925				2,216
Loan fees and service charges			146				173				292				676				996
Net gains (losses) on equity securities			191				(66	)			(287	)			234				(856	)
Bank Owned Life Insurance (BOLI) death benefit			—				—				—				—				184
Other			250				260				266				993				1,125
Total non-interest income			2,692				3,022				2,009				11,143				10,107
Non-interest expense:
Compensation and related benefits			5,929				6,341				5,840				23,875				22,741
Occupancy			1,226				1,266				1,217				4,975				5,159
Data processing			1,492				1,811				1,743				6,775				6,530
Amortization of intangible assets			113				113				179				584				715
Mortgage servicing rights expense, net			172				161				107				621				534
Advertising, marketing and public relations			344				201				218				906				793
FDIC premium assessment			189				195				192				773				798
Professional services			478				359				514				1,777				1,763
Losses (gains) on repossessed assets, net			33				(4	)			247				33				294
Other			696				608				552				2,617				2,979
Total non-interest expense			10,672				11,051				10,809				42,936				42,306
Income before provision for income taxes			4,885				4,535				3,358				17,441				17,450
Provision for income taxes			614				853				656				3,021				3,699
Net income attributable to common stockholders		$	4,271			$	3,682			$	2,702			$	14,420			$	13,751
Per share information:
Basic earnings		$	0.44			$	0.37			$	0.27			$	1.46			$	1.34
Diluted earnings		$	0.44			$	0.37			$	0.27			$	1.46			$	1.34
Cash dividends paid		$	—			$	—			$	—			$	0.36			$	0.32
Book value per share at end of period		$	19.54			$	18.95			$	17.94			$	19.54			$	17.94
Tangible book value per share at end of period (non-GAAP)		$	16.23			$	15.71			$	14.69			$	16.23			$	14.69

Loan Composition
(in thousands)

		December 31, 2025				September 30, 2025				June 30, 2025				December 31, 2024
Total Loans:
Commercial/Agricultural real estate:
Commercial real estate		$	683,108			$	683,931			$	693,382			$	709,018
Agricultural real estate			69,136				64,096				69,237				73,130
Multi-family real estate			245,688				237,191				238,953				220,805
Construction and land development			75,767				74,789				70,477				78,489
C&I/Agricultural operating:
Commercial and industrial			105,907				101,700				109,202				115,657
Agricultural operating			33,375				30,085				31,876				31,000
Residential mortgage:
Residential mortgage			122,025				125,198				125,818				132,341
Purchased HELOC loans			1,739				1,979				2,368				2,956
Consumer installment:
Originated indirect paper			2,224				2,567				2,959				3,970
Other consumer			3,997				4,155				4,275				5,012
Gross loans		$	1,342,966			$	1,325,691			$	1,348,547			$	1,372,378
Unearned net deferred fees and costs and loans in process			(2,528	)			(2,563	)			(2,629	)			(2,547	)
Unamortized discount on acquired loans			(113	)			(118	)			(298	)			(850	)
Total loans receivable		$	1,340,325			$	1,323,010			$	1,345,620			$	1,368,981

Nonperforming Assets

Loan Balances at Amortized Cost
(in thousands, except ratios)

		December 31, 2025				September 30, 2025				June 30, 2025				December 31, 2024
Nonperforming assets:
Nonaccrual loans
Commercial real estate		$	4,652			$	4,592			$	5,013			$	4,594
Agricultural real estate			464				220				5,447				6,222
Multi-family real estate			8,970				8,970				—				—
Construction and land development			—				—				—				103
Commercial and industrial (“C&I”)			1,282				1,312				600				597
Agricultural operating			—				—				—				793
Residential mortgage			485				520				549				858
Consumer installment			—				—				—				1
Total nonaccrual loans		$	15,853			$	15,614			$	11,609			$	13,168
Accruing loans past due 90 days or more			1				136				521				186
Total nonperforming loans (“NPLs”) at amortized cost			15,854				15,750				12,130				13,354
Foreclosed and repossessed assets, net			857				911				895				915
Total nonperforming assets (“NPAs”)		$	16,711			$	16,661			$	13,025			$	14,269
Loans, end of period		$	1,340,325			$	1,323,010			$	1,345,620			$	1,368,981
Total assets, end of period		$	1,781,755			$	1,726,987			$	1,735,164			$	1,748,519
Ratios:
NPLs to total loans			1.18	%			1.19	%			0.90	%			0.98	%
NPAs to total assets			0.94	%			0.96	%			0.75	%			0.82	%

Average Balances, Interest Yields and Rates
(in thousands, except yields and rates)

		Three Months Ended December 31, 2025											Three Months Ended September 30, 2025											Three Months Ended December 31, 2024
		Average Balance				Interest Income/ Expense				Average Yield/ Rate			Average Balance				Interest Income/ Expense				Average Yield/ Rate			Average Balance				Interest Income/ Expense				Average Yield/ Rate
Average interest earning assets:
Cash and cash equivalents		$	84,678			$	842			3.94	%		$	62,395			$	693			4.41	%		$	26,197			$	327			4.97	%
Loans receivable			1,329,456				19,034			5.68	%			1,342,635				19,759			5.84	%			1,396,854				19,534			5.56	%
Investment securities			218,205				1,739			3.16	%			220,213				1,738			3.13	%			235,268				1,940			3.28	%
Other investments			12,390				156			5.00	%			12,373				64			2.05	%			12,318				160			5.17	%
Total interest earning assets		$	1,644,729			$	21,771			5.25	%		$	1,637,616			$	22,254			5.39	%		$	1,670,637			$	21,961			5.23	%
Average interest-bearing liabilities:
Savings accounts		$	152,852			$	287			0.74	%		$	158,905			$	306			0.76	%		$	162,501			$	383			0.94	%
Demand deposits			360,867				1,797			1.98	%			376,145				2,061			2.17	%			346,411				1,891			2.17	%
Money market accounts			372,984				2,514			2.67	%			358,956				2,512			2.78	%			351,566				2,720			3.08	%
CD’s			346,975				3,400			3.89	%			339,566				3,341			3.90	%			374,087				4,279			4.55	%
Total deposits		$	1,233,678			$	7,998			2.57	%		$	1,233,572			$	8,220			2.64	%		$	1,234,565			$	9,273			2.99	%
FHLB advances and other borrowings			50,941				708			5.51	%			54,389				820			5.98	%			72,431				980			5.38	%
Total interest-bearing liabilities		$	1,284,619			$	8,706			2.69	%		$	1,287,961			$	9,040			2.78	%		$	1,306,996			$	10,253			3.12	%
Net interest income						$	13,065										$	13,214										$	11,708
Interest rate spread										2.56	%										2.61	%										2.11	%
Net interest margin										3.15	%										3.20	%										2.79	%
Average interest earning assets to average interest-bearing liabilities										1.28											1.27											1.28

		Twelve Months Ended December 31, 2025											Twelve Months Ended December 31, 2024
		Average Balance				Interest Income/ Expense				Average Yield/ Rate			Average Balance				Interest Income/ Expense				Average Yield/ Rate
Average interest earning assets:
Cash and cash equivalents		$	59,930			$	2,553			4.26	%		$	20,864			$	1,150			5.51	%
Loans receivable			1,347,088				77,500			5.75	%			1,430,631				79,738			5.57	%
Investment securities			222,528				7,020			3.15	%			238,851				7,977			3.34	%
Other investments			12,415				557			4.49	%			12,816				750			5.85	%
Total interest earning assets		$	1,641,961			$	87,630			5.34	%		$	1,703,162			$	89,615			5.26	%
Average interest-bearing liabilities:
Savings accounts		$	159,860			$	1,335			0.84	%		$	171,069			$	1,684			0.98	%
Demand deposits			372,972				7,876			2.11	%			353,107				8,083			2.29	%
Money market accounts			364,727				10,071			2.76	%			371,909				11,725			3.15	%
CD’s			343,311				13,820			4.03	%			366,634				16,493			4.50	%
Total deposits		$	1,240,870			$	33,102			2.67	%		$	1,262,719			$	37,985			3.01	%
FHLB advances and other borrowings			57,890				3,344			5.78	%			99,731				5,156			5.17	%
Total interest-bearing liabilities		$	1,298,760			$	36,446			2.81	%		$	1,362,450			$	43,141			3.17	%
Net interest income						$	51,184										$	46,474
Interest rate spread										2.53	%										2.09	%
Net interest margin										3.12	%										2.73	%
Average interest earning assets to average interest bearing liabilities										1.26											1.25

Wholesale Deposits

(in thousands)

		Quarter Ended
		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Brokered certificate accounts		$	—			$	—			$	—			$	5,489			$	14,123
Brokered money market accounts			5,168				5,131				5,092				5,053				5,002
Third party originated reciprocal deposits			19,440				20,846				19,316				16,451				14,125
Total		$	24,608			$	25,977			$	24,408			$	26,993			$	33,250

Key Financial Metric Ratios:

		Three Months Ended									Twelve Months Ended
		December 31, 2025			September 30, 2025			December 31, 2024			December 31, 2025			December 31, 2024
Ratios based on net income:
Return on average assets (annualized)		0.97	%		0.84	%		0.61	%		0.82	%		0.76	%
Return on average equity (annualized)		9.05	%		7.90	%		6.00	%		7.89	%		7.84	%
Return on average tangible common equity1 (annualized)		11.16	%		9.80	%		7.72	%		9.89	%		10.03	%
Efficiency ratio		68	%		67	%		76	%		68	%		72	%
Net interest margin with loan purchase accretion		3.15	%		3.20	%		2.79	%		3.12	%		2.73	%
Net interest margin without loan purchase accretion		3.15	%		3.16	%		2.77	%		3.07	%		2.69	%

Reconciliation of Return on Average Assets
(in thousands, except ratios)

		Three Months Ended												Twelve Months Ended
		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
GAAP earnings after income taxes		$	4,271			$	3,682			$	2,702			$	14,420			$	13,751
Average assets		$	1,751,360			$	1,735,752			$	1,771,351			$	1,749,437			$	1,808,256
Return on average assets (annualized)			0.97	%			0.84	%			0.61	%			0.82	%			0.76	%

Reconciliation of Return on Average Equity
(in thousands, except ratios)

		Three Months Ended												Twelve Months Ended
		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
GAAP earnings after income taxes		$	4,271			$	3,682			$	2,702			$	14,420			$	13,751
Average equity		$	187,270			$	184,822			$	179,242			$	182,877			$	175,475
Return on average equity (annualized)			9.05	%			7.90	%			6.00	%			7.89	%			7.84	%

Reconciliation of Return on Average Tangible Common Equity (non-GAAP)
(in thousands, except ratios)

		Three Months Ended												Twelve Months Ended
		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Total stockholders’ equity		$	187,939			$	186,815			$	179,084			$	187,939			$	179,084
Less: Goodwill			(31,498	)			(31,498	)			(31,498	)			(31,498	)			(31,498	)
Less: Intangible assets			(395	)			(508	)			(979	)			(395	)			(979	)
Tangible common equity (non-GAAP)		$	156,046			$	154,809			$	146,607			$	156,046			$	146,607
Average tangible common equity (non-GAAP)		$	155,320			$	152,759			$	146,676			$	150,722			$	142,641
GAAP earnings after income taxes			4,271				3,682				2,702				14,420				13,751
Amortization of intangible assets, net of tax			99				92				144				483				563
Tangible net income		$	4,370			$	3,774			$	2,846			$	14,903			$	14,314
Return on average tangible common equity (annualized)			11.16	%			9.80	%			7.72	%			9.89	%			10.03	%

Reconciliation of Efficiency Ratio
(in thousands, except ratios)

		Three Months Ended												Twelve Months Ended
		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Non-interest expense (GAAP)		$	10,672			$	11,051			$	10,809			$	42,936			$	42,306
Less amortization of intangibles			(113	)			(113	)			(179	)			(584	)			(715	)
Efficiency ratio numerator (GAAP)		$	10,559			$	10,938			$	10,630			$	42,352			$	41,591
Non-interest income		$	2,692			$	3,022			$	2,009			$	11,143			$	10,107
Add back net losses on debt and equity securities			—				(66	)			(287	)			—				(856	)
Subtract net gains on debt and equity securities			191				—				—				234				—
Net interest income			13,065				13,214				11,708				51,184				46,474
Efficiency ratio denominator (GAAP)		$	15,566			$	16,302			$	14,004			$	62,093			$	57,437
Efficiency ratio (GAAP)			68	%			67	%			76	%			68	%			72	%

Pre-Provision Net Revenue (PPNR)

(in thousands, except yields and rates)

		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Pre-tax income		$	4,885			$	4,535			$	4,047			$	3,974			$	3,358
Add back provision for credit losses			200				650				1,350				—				—
Subtract provision reversal for credit losses			—				—				—				(250	)			(450	)
Pre-Provision Net Revenue		$	5,085			$	5,185			$	5,397			$	3,724			$	2,908

Reconciliation of tangible book value per share (non-GAAP)
(in thousands, except per share data)

Tangible book value per share at end of period		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Total stockholders’ equity		$	187,939			$	186,815			$	183,462			$	180,051			$	179,084
Less: Goodwill			(31,498	)			(31,498	)			(31,498	)			(31,498	)			(31,498	)
Less: Intangible assets			(395	)			(508	)			(621	)			(800	)			(979	)
Tangible common equity (non-GAAP)		$	156,046			$	154,809			$	151,343			$	147,753			$	146,607
Ending common shares outstanding			9,617,245				9,856,745				9,991,997				9,989,536				9,981,996
Book value per share		$	19.54			$	18.95			$	18.36			$	18.02			$	17.94
Tangible book value per share (non-GAAP)		$	16.23			$	15.71			$	15.15			$	14.79			$	14.69

Reconciliation of tangible common equity as a percent of tangible assets (non-GAAP)
(in thousands, except ratios)

Tangible common equity as a percent of tangible assets at end of period		December 31, 2025				September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024
Total stockholders’ equity		$	187,939			$	186,815			$	183,462			$	180,051			$	179,084
Less: Goodwill			(31,498	)			(31,498	)			(31,498	)			(31,498	)		$	(31,498	)
Less: Intangible assets			(395	)			(508	)			(621	)			(800	)		$	(979	)
Tangible common equity (non-GAAP)		$	156,046			$	154,809			$	151,343			$	147,753			$	146,607
Total Assets		$	1,781,755			$	1,726,987			$	1,735,164			$	1,779,963			$	1,748,519
Less: Goodwill			(31,498	)			(31,498	)			(31,498	)			(31,498	)			(31,498	)
Less: Intangible assets			(395	)			(508	)			(621	)			(800	)			(979	)
Tangible Assets (non-GAAP)		$	1,749,862			$	1,694,981			$	1,703,045			$	1,747,665			$	1,716,042
Total stockholders’ equity to total assets ratio			10.55	%			10.82	%			10.57	%			10.12	%			10.24	%
Tangible common equity as a percent of tangible assets (non-GAAP)			8.92	%			9.13	%			8.89	%			8.45	%			8.54	%

<sub>¹

Tangible book value, tangible book value per share, tangible common equity as a percent of tangible assets and return on tangible common equity are non-GAAP measures that management believes enhance investors’ ability to understand the Company’s financial position. For a detailed reconciliation of GAAP to non-GAAP results, see the accompanying financial table “Reconciliation of tangible book value per share (non-GAAP)”, “Reconciliation of tangible common equity as a percent of tangible assets (non-GAAP)”, and “Reconciliation of return on average tangible common equity)”.</sub>

HAUPPAUGE, N.Y., Jan. 26, 2026 (GLOBE NEWSWIRE) — AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW), a designer, developer, and manufacturer of state-of-the-art signal processing components for global communications infrastructure, including 5G/6G Open RAN, satellite and quantum computing systems, today announced that it has entered into securities purchase agreements with certain institutional investors to purchase 2,230,000 Units at an offering price of Four dollars and Five and a half cents ($4.055) per Unit, in a registered direct offering. Each Unit consisted of one share of common stock, one Series A right to purchase one share of common stock at $5.00, and one Series B right to purchase one share of common stock at $6.00.

The gross proceeds to the Company from the registered direct offering are estimated to be approximately $9,042,650 million before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about January 27, 2026, subject to the satisfaction of customary closing conditions.

Moody Capital Solutions, Inc. is acting as the sole placement agent in connection with the offering.

The Securities are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-288863), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 4, 2025. The offering will be made only by means of a prospectus supplement that forms a part of such registration statement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the Securities offered in the registered direct offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov.

About AmpliTech Group

AmpliTech Group, Inc., comprising five divisions, AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services, is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and ORAN 5G network solutions. Serving global markets including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation. For more information, please visit www.amplitechgroup.com

Forward-Looking Statements

All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, statements regarding the completion of the offering. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those contained in the forward-looking statements, including risks regarding the Company’s ability to satisfy closing conditions related to the offering, risks related to market conditions, and other risks described in the Company’s filings with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Contacts:

Corporate Social Media

X: @AmpliTechAMPG
Instagram: @AmpliTechAMPG
Facebook: AmpliTechInc
LinkedIn: AmpliTech Group Inc

Company Contact:

Jorge Flores
Tel: 631-521-7831
[email protected]

Investor Relations Contact:

Kirin Smith
PCG Advisory, Inc.
[email protected]

WEST HOLLYWOOD, Calif. and PETAH TIKVA, Israel, Jan. 26, 2026 (GLOBE NEWSWIRE) — VisionWave Holdings, Inc. (Nasdaq: VWAV) (“VisionWave”) and SaverOne 2014 Ltd. (Nasdaq: SVRE) (“SaverOne”) today jointly announced that they have entered into a definitive strategic Exchange Agreement to develop a RF-based defense and security technology platform.

The transaction includes $7.0 million in staged equity consideration payable to SaverOne, and is structured to provide for a three-stage equity exchange and strategic collaboration between the two companies.

Under the agreement, VisionWave may acquire approximately 51% of SaverOne on a fully diluted basis, subject to milestone achievement, regulatory approvals, and customary closing conditions. VisionWave will be authorized to appoint one director to SaverOne’s Board at the initial investment stage, and subject to meeting the specified development milestones, to appoint one additional director upon completion of each investment stage. SaverOne will serve as the core operating platform for specified RF-based defense and security applications, supported by a non-exclusive global license to VisionWave’s proprietary RF sensing and analytics technologies for defense and homeland-security use.

Immediate Expansion of VRU Platform

VisionWave and SaverOne intend to integrate VisionWave RF Technologies into SaverOne’s existing VRU (Vulnerable Road User) platform, integrating RF sensing and AI-driven analytics designed to address concealed, obscured, and non-line-of-sight threats.

Management currently estimates that an RF-enhanced, commercially deployable solution addressing identified concealed-threat scenarios could be demonstrated during the 2026 calendar year, subject to continued development, testing, and validation. The expanded platform is intended to assist in environments where optical and LiDAR-only sensing systems face inherent limitations, including occlusion, cluttered terrain, adverse weather, and complex infrastructure settings.

Unified RF Defense and Security Platform

The strategic collaboration seeks to develop an RF defense platform combining VisionWave’s RF sensing, imaging, and AI-based decision technologies with SaverOne’s established engineering, system integration, and commercialization capabilities.

The platform is aiming to support a range of defense and security applications, including:

• Detection of concealed or obscured threats
• Counter-UAS and drone sensing
• Perimeter and infrastructure protection
• Battlefield and tactical situational awareness
• RF-based threat classification in complex environments

The goal of the platform is intended to complement existing sensing architectures and support deployment across military, homeland-security, and critical-infrastructure environments, subject to technical feasibility and applicable regulations.

Governance and Board Approval

The transaction was unanimously approved by both VisionWave’s and SaverOne’s Boards of Directors following receipt and consideration of an independent fairness opinions and valuation analysis from BDO Consulting Group, which concluded that the transaction is fair, from a financial point of view, to VisionWave, SaverOne and their stockholders. The entire transaction is subject to the approval of SaverOne’s shareholders.

Leadership Commentary

“This transaction is designed to develop a focused RF defense platform with the goal of operating where traditional sensing technologies reach their limits,” said Douglas Davis, Executive Chairman of VisionWave Holdings. “By integrating RF capabilities into SaverOne’s VRU platform w, we believe the collaboration may result in solutions addressing threats that are currently hidden from view.”

Ori Gilboha SaverOne’s CEO added, “The agreement positions SaverOne as the operational center for a scalable RF-based defense platform, combining engineering infrastructure with VisionWave’s sensing technologies to address evolving security challenges.”

About VisionWave Holdings, Inc.

VisionWave Holdings, Inc. (Nasdaq: VWAV) is focused on advanced sensing, autonomy, and AI-driven systems for defense and security applications. VisionWave develops proprietary radio-frequency sensing, computational acceleration, and decision-support technologies intended to enhance situational awareness and time-critical response across complex operational environments.

About SaverOne 2014 Ltd.

SaverOne is a technology company that designs, develops, and commercializes OEM and aftermarket solutions and technologies to lower the risk of and prevent vehicle accidents.

SaverOne’s advanced solutions for saving lives on the road are powered by a patented AI technology that detects, locates and analyzes cell phone RF signals. The combination of proprietary hardware, software and algorithms serves as a blueprint for our innovative product lines.

SaverOne’s initial product line is a suite of solutions that saves lives by preventing car accidents resulting from distraction from using mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.

Learn more at https://saver.one/

Forward-Looking Statements

This joint press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the potential acquisition of a 51% interest in SaverOne by VisionWave, the achievement of operational and commercial milestones, the anticipated timing of technology demonstrations, the expected capabilities of the integrated RF platform and the obtaining of all regulatory and corporate approvals. Actual results may differ materially from those projected due to a number of risks and uncertainties, including: (i) the failure to satisfy closing conditions or obtain required regulatory and shareholder approvals; (ii) the inability of the parties to achieve the specific technical milestones required for Stage 2 and Stage 3 closings; (iii) the risk that the license to VisionWave RF Technologies may not result in commercially viable products; and (iv) the impact of the Value Protection Mechanism on share dilution. Forward-looking statements speak only as of the date they are made, and neither company undertakes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.  

VWAV – Investor Contact:

[email protected]

Website:

https://www.vwav.inc

SVRE – International Investor Relations Contact:

Ehud Helft
+1 212 378 8040
[email protected]

International Investor Relations Contact for SaverOne:

Ehud Helft 
+1 212 378 8040
[email protected]

HOUSTON, Texas and SACRAMENTO, California, Jan. 26, 2026 (GLOBE NEWSWIRE) — XCF Global, Inc. (“XCF”) (Nasdaq: SAFX), a key player in decarbonizing the aviation industry through sustainable aviation fuel (“SAF”), and DevvStream Corp. (Nasdaq: DEVS) (“DevvStream”), a leading carbon management and environmental-asset monetization firm, today announced that they have agreed to a binding term sheet to combine Southern Energy Renewables Inc. (“Southern”) (together, the “Parties”) in a three-party merger.

If the Parties are able to successfully negotiate a definitive agreement, the Parties believe the combined entity will form an integrated platform of complementary assets, with the opportunity to deploy a disciplined and proprietary environmental attribute and credit generation strategy across North America and emerging markets. The binding term sheet establishes a framework for collaboration and mutual understanding among the Parties.

The proposed transaction is intended to reinforce the development of a low-carbon fuels platform designed to accelerate SAF via HEFA, e-methanol, e-methanol-to-jet fuel pathways, expand domestic production capacity, and integrate environmental-attribute monetization into a unified customer offering. As part of the evaluation and negotiation of the definitive transaction agreement, the Parties plan to explore opportunities for integrating small modular reactor (“SMR”) nuclear power with electro-sustainable aviation fuel (“eSAF”), AI data center power, and associated environmental attribute structures.

Entry into definitive transaction agreements is subject to review and approval by the Boards of Directors of the respective companies. As part of the binding term sheet, an investor has agreed to purchase shares of XCF to fund near-term operations and, critically, to complete targeted upgrades and modifications at XCF’s New Rise Reno refinery. These funds are intended to be used to:

• complete required mechanical, electrical, and process upgrades,
• procure catalyst, utilities, and supporting infrastructure,
• finalize commissioning and reliability improvements, and
• conduct certain shareholder relations activities related to the updates and modifications at XCF’s New Rise Reno refinery.

The ultimate objective of the incremental funding is to bring the New Rise Reno facility into sustained commercial production and support the ramp-up of SAF output.

Chris Cooper, Chief Executive Officer of XCF commented: “We are excited to formalize a proposed final structure with DevvStream and Southern on what we believe will be a very accretive and excellent opportunity. We believe this combination has the potential to further validate the value XCF brings to the SAF industry while increasing shareholder value and providing alternative clean fuel opportunities. If consummated, this merger has the potential to solidify our footprint in North America as the supreme SAF producer.”

Sunny Trinh, Chief Executive Officer of DevvStream commented: “We believe the next phase of SAF adoption will favor U.S.-based platforms that can move quickly, operate at scale, and better integrate environmental attributes into the fuel value chain to support project economics and customer confidence. If progressed, this merger would bring together complementary strengths—XCF’s scale and speed-to-market, Southern’s biomass feedstock focus, and DevvStream’s environmental-asset capabilities—with the shared objective of building a globally competitive low-carbon fuels platform grounded in real operating execution.”

Jay Patel, Chief Executive Officer of Southern Energy Renewables added: “Southern’s approach is centered on sustainable biomass feedstocks and scalable fuel pathways, and we see meaningful potential in combining that focus with XCF’s production footprint and ability to accelerate commercialization. Subject to completing the necessary documentation, and approvals, we believe this collaboration could create a U.S.-based platform that can compete globally.”

About XCF Global, Inc.

XCF Global, Inc. (“XCF”) (Nasdaq: SAFX) is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry’s transition to net-zero emissions. Our flagship facility, New Rise Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.

To learn more, visit www.xcf.global.

About DevvStream

DevvStream (Nasdaq: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates.

About Southern Energy Renewables

Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.

Contact

Greg Savarese
[email protected]

[email protected]

408.365.4348

Additional Information and Where to Find It

In connection with the proposed business combination transaction among DevvStream, Southern, and Sierra Merger Sub, Inc., DevvStream expects that XCF will prepare and file relevant materials with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the “Proxy Statements/Prospectus”) in connection with the proposed business combination transaction. A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream’s investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab “Financials” on the “Investors” page of the XCF’s website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF’s Investor Relations Department at [email protected] and (ii) DevvStream will be available free of charge under the tab “Financials” on the “Investor Relations” page of DevvStream’s website at www.devvstream.com/investors/ or by contacting DevvStream’s Investor Relations Department at [email protected].

Participants in the Solicitation

DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream’s and XCF’s stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, file with the SEC on October 31, 2025, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream’s proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding the binding term sheet, the proposed transactions contemplated thereby, the anticipated structure, timing and conditions of the proposed transaction, the anticipated completion of the plant conversion specified in the binding term sheet for the proposed transaction, the achievement of specified financial and operational milestones (including annualized blended fuel product revenues in excess of $1.0 billion and minimum annualized EBITDA of $100 million), the anticipated issuance of state-supported bonds by Southern, the valuation the parties are aiming to achieve following the consummation of the proposed transaction, and the expected benefits of the proposed transaction. All statements, other than statements of historical facts, are forward-looking statements, including statements regarding the expected timing, structure and terms of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected or targeted benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by words such as “aim,” “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “plan,” “could,” “would,” “project,” “predict,” “continue,” “target,” “objective,” “goal,” “designed,” or the negatives of these words or other similar expressions that concern XCF’s, DevvStream’s,or Southern’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion specified in the term sheet for the proposed transaction is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds contemplated by the term sheet, which depend in significant part on XCF’s business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the risk that negotiations among the parties relating to the term sheet or any contemplated definitive agreements are delayed, modified, suspended or terminated, including as a result of alleged breaches or differing interpretations of the binding provisions of the term sheet; (7) the inability of the parties to agree on mutually acceptable definitive agreements or to satisfy or waive the closing conditions contemplated by the term sheet; (8) the occurrence of events, changes or other circumstances that could give rise to the termination of the term sheet or any related negotiations, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the binding provisions of the term sheet; (9) the outcome of any legal proceedings that may be instituted against XCF, DEVS, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (10) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party’s satisfaction therewith; (11) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the term sheet, including the risk that, in the event the proposed transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (12) changes to the structure, timing or terms of any proposed transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (13) the risk that required regulatory, governmental, stock exchange or stockholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (14) the risk that the announcement of the term sheet or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of XCF, DEVS or Southern; (15) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (16) costs, expenses and management distraction associated with the term sheet, negotiations, potential litigation and any contemplated transactions; (17) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties’ businesses; and (18) other economic, business, competitive, operational or financial factors beyond management’s control, including those set forth in (i) XCF’s filings with the SEC, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF made or will make with the SEC in the future and (ii) DevvStream’s Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream’s profile at www.sedarplus.ca.

Although the binding term sheet provides that certain provisions are binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the negotiation, execution and delivery of definitive agreements and the satisfaction or waiver of applicable closing conditions, and the binding term sheet may be terminated in accordance with its terms. There can be no assurance that any definitive agreements will be entered into or that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes.

Any forward-looking statements speak only as of the date of this communication. Neither DevvStream, XCF, Southern or EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on DevvStream’s website at www.devvstream.com/investors/ or XCF’s website at www.xcf.global/investor-relations should be deemed to constitute an update or re-affirmation of these statements as of any future date.

NEW YORK, Jan. 26, 2026 (GLOBE NEWSWIRE) — Aeries Technology, Inc. (NASDAQ: AERT), a global leader in AI-enabled value creation, business transformation and Global Capability Center (GCC) delivery for private equity (PE) portfolio companies, today announced a strategic partnership with Michael Page, a leading global recruitment firm with deep expertise in mid-to-senior-level talent acquisition. The partnership creates mutual value, as Aeries benefits from Michael Page’s specialist talent acquisition networks, world-class network and proven processes, while Michael Page gains access to Aeries’ GCC advisory services, which include entity setup, compliance, management and delivery.

The strategic collaboration functions as a reciprocal value exchange. Aeries will leverage Michael Page’s proven recruitment processes to provide enterprise clients with faster access to vetted talent across engineering, finance, IT and business operations, enabling clients to scale their operations with greater efficiency. Simultaneously, Michael Page will integrate Aeries’ GCC advisory services into its own client offerings, providing a turnkey solution for organizations looking to establish and scale operations in India.

“This partnership creates a powerful synergy that benefits the clients of both organizations,” said Sachin Aghor, Chief Delivery Officer at Aeries Technology. “By gaining access to Michael Page’s talent acquisition expertise, we enhance our ability to scale high-quality teams for our clients. In turn, Michael Page can now offer our specialized GCC advisory and operational management services to their client base, providing them with a clearer path to successful global execution.”

“We are pleased to partner with Aeries Technology as GCC expansion continues across India,” said Andrew Simoes, Associate Director at Michael Page. “Our focus remains on specialist recruitment, and this partnership allows us to work more closely with Aeries on engagements where talent and GCC operations intersect. It gives us a clearer understanding of the broader execution landscape while we continue delivering high-quality hiring solutions to our clients.”

The partnership addresses growing demand for India-based GCC capability and accelerates time to productivity, revenue capture and client satisfaction for enterprise customers. Analysts project India’s GCC market to reach approximately $110 billion by 2030, supported by leadership talent availability and scalable operating models. Together, Aeries and Michael Page are positioned to capture opportunities across the full spectrum of GCC requirements, from talent acquisition to operational delivery.

About Aeries Technology 

Aeries Technology (NASDAQ: AERT) is a global leader in AI-enabled value creation, business transformation and Global Capability Center (GCC) delivery for private equity (PE) portfolio companies, supporting scalable, technology-driven execution. Founded in 2012, its commitment to workforce development has earned it the Great Place to Work Certification for three consecutive years. For more information, visit www.aeriestechnology.com.

About Michael Page 

Michael Page is a leading global recruitment firm specializing in permanent, contract and temporary placements for mid-to-senior-level roles. With more than 40 years of experience and a network of offices across 37 countries, Michael Page connects top talent with organizations seeking specialized professionals. The firm combines global reach with local market expertise to deliver consultative recruitment solutions across industries and functional disciplines. For more information, visit http://www.michaelpage.co.in.

Media Contact

[email protected]