Market Newsdesk

April 23, 2025 10:11 am

Nexalin Technology Announces Completion of Phases One Through Five of its Virtual Clinic and Digital Ecosystem for HALO™ Clinical Research and Patient Management

AI-Powered Platform Now Fully Operational to Support Data Capture, Remote Monitoring, and Virtual Treatment with HALO™

HOUSTON, TX, April 23, 2025 (GLOBE NEWSWIRE) — Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the “Company” or “Nexalin”), the leader in Deep Intracranial Frequency Stimulation (DIFS™) of the brain, today announced the successful completion and launch of phases one through five of its proprietary virtual clinic and digital research ecosystem. The launch of Nexalin’s virtual clinic took place this week at the University of California, San Diego (UCSD) to support patient recruitment in the recently announced TBI / PTSD military study. This virtual platform will manage the real-time data capture, remote monitoring, and clinical oversight of its HALO™ headset in both research and patient treatment settings. Additionally, this virtual system will allow civilian and military patients to receive treatment in the privacy of their home while the system monitors and validates compliance with clinical research protocols.

With this fully operational AI-integrated system, Nexalin has established a comprehensive digital infrastructure to manage clinical research, track patient progress, and optimize treatment delivery—all within a secure, cloud-based environment. This milestone builds upon phase one of the virtual clinic, announced in December 2024, which introduced key components such as the Electronic Data Capture (EDC) platform and Patient Monitoring System (PMS). Now, with the completion of phases one through five, Nexalin has significantly advanced its capabilities for fully remote research studies and streamlined patient care using its non-invasive DIFS™ technology.

Key Features of Nexalin’s Virtual Clinic and Digital Ecosystem:

AI-Powered Electronic Data Capture (EDC): Secure, real-time collection and analysis of clinical data from HALO™ headset users to ensure adherence and efficacy tracking.
Remote Patient Monitoring System (PMS): Allows clinicians to oversee treatment sessions, adjust protocols, and provide real-time feedback through an interactive mobile app.
Telemedicine Integration: Enables seamless communication between patients and medical teams, supporting virtual treatment and clinical trial participation.
Cloud-Based Compliance Management: Ensures regulatory compliance and secure data storage for clinical trials and eventual commercial deployment.

Mark White, CEO of Nexalin Technology, commented, “The successful completion of phases one through five of our virtual clinic marks a major milestone for Nexalin. With this fully integrated AI-powered platform, we can now facilitate clinical research on the HALO™ device while preparing for broader patient adoption. By creating a seamless digital environment for treatment oversight and research data collection, we are advancing clinical science and improving accessibility to our non-invasive frequency-based treatment options.”

As Nexalin’s HALO™ headset continues clinical evaluation, the expanded digital ecosystem provides research institutions, healthcare providers, and future patients with a fully integrated, technology-driven approach to treatment. The system plays a critical role in managing ongoing clinical studies evaluating the effectiveness of HALO™ for mental health disorders, traumatic brain injury (TBI), addiction, and neurodegenerative conditions.

David Owens, CMO of Nexalin Technology, added, “With this digital ecosystem fully operational, we have built a strong foundation for the future of clinical research and patient care. The combination of DIFS™ technology with a robust AI-powered virtual clinic allows us to remotely monitor treatment adherence, track patient outcomes, and optimize protocols—all while providing convenience and accessibility. This achievement moves us closer to providing innovative, non-invasive treatment solutions to those who need them most.”

The successful completion of phases one through five of Nexalin’s virtual clinic infrastructure positions the Company to further expand research collaborations, advance regulatory approvals, and accelerate commercialization efforts for HALO™ and future DIFS™ technology applications.

For more information about Nexalin Technology and its innovative digital treatment ecosystem, visit www.nexalin.com.

About Nexalin Technology, Inc.

Nexalin designs and develops innovative neurostimulation products to uniquely help combat the ongoing global mental health epidemic. All of Nexalin’s products are non-invasive and undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp neurostimulation device has been approved in China, Brazil, and Oman. Additional information about the Company is available at: https://nexalin.com/.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements,” These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward-looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Report on Form 10-K for the year ended December 31, 2024, and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC’s website,

www.sec.gov

. Such forward-looking statements are made as of the date hereof and may become outdated over time. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Crescendo Communications, LLC
Tel: (212) 671-1020
Email: [email protected]

April 23, 2025 10:11 am

SEALSQ Presents Quantum AI “QAI” Framework at United Nations Alliance of Civilizations Event

Geneva, Switzerland, April 23, 2025 (GLOBE NEWSWIRE) —

Video of Carlos Moreira’s presentation at the UN

https://www.youtube.com/watch?v=OwztXzHBALk

SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, announced the introduction of a revolutionary Quantum AI (QAI) Framework at the United Nations Alliance of Civilizations (UNAOC) “AI for One Humanity” event in Geneva, a pivotal moment in the evolution of digital technology. This announcement marks a significant milestone in the global effort to align the exponential advances in quantum computing and AI with fundamental human rights, ethical governance, and digital trust.

SEALSQ, a global leader in the development of post-quantum hardware and software security solutions, has been pioneering technologies that anticipate the imminent risks posed by quantum computers. These powerful machines, still in their early stages, hold the potential to render today’s encryption obsolete. SEALSQ’s vision is clear: ensure the security and integrity of digital infrastructure in a world where quantum capabilities and AI are rapidly converging. The QAI Framework introduced at the UNAOC gathering is a testament to that commitment.

The QAI Framework is the result of SEALSQ’s multi-disciplinary efforts to combine the strength of post-quantum cryptography (PQC) with the adaptability and intelligence of AI. This hybrid approach is designed to secure critical infrastructures, digital identities, and sensitive communications from future threats while enhancing system efficiency, responsiveness, and resilience. The integration of AI enables real-time decision-making, cryptographic optimization, and anomaly detection, improving the robustness of cybersecurity operations at all levels — from data centers to satellites.

Speaking at the UNAOC event, Carlos Moreira, CEO of SEALSQ, emphasized the transformative nature of this initiative. He noted, “We are entering the era of intelligence, where AI and quantum computing are reshaping the limits of human capability. With QAI, we are not just securing technology. We are securing humanity’s right to a safe and inclusive digital future.”

SEALSQ’s QAI Framework incorporates post-quantum encryption algorithms recently standardized by the U.S. National Institute of Standards and Technology (NIST), such as CRYSTALS-Kyber and CRYSTALS-Dilithium. These algorithms are built to resist attacks from both classical and quantum adversaries. What makes QAI unique is its capacity to use AI techniques to dynamically fine-tune cryptographic parameters, improving speed and performance without compromising security. This is particularly relevant given that many PQC algorithms require larger key sizes and have higher computational demands than traditional cryptography. Through AI-driven optimization, QAI helps organizations navigate the trade-offs of PQC adoption while preparing for the quantum future.

Beyond its technical capabilities, QAI is rooted in a principled vision for ethical and responsible AI. The framework ensures that all deployed AI systems are developed in accordance with internationally recognized human rights standards. It emphasizes transparency, non-discrimination, and the primacy of individual dignity in automated decision-making. SEALSQ, in alignment with the vision of UNAOC, believes that technology must enhance, not diminish our shared humanity. The QAI initiative reflects a strong belief that ethical technology is not just desirable, but necessary, as societies grapple with the influence of increasingly autonomous systems.

SEALSQ also highlighted the strategic urgency of quantum preparedness. Global governments, including those of the United States, the European Union, and China, are rapidly investing in quantum technologies and establishing standards for PQC. The NSA, NIST, and CISA in the U.S. have issued detailed migration plans urging organizations to adopt post-quantum security immediately, warning that data encrypted today may be harvested and decrypted in the near future once quantum computers mature. In Europe, the EU Commission has issued a formal recommendation for PQC adoption across member states to safeguard the digital single market. Meanwhile, China continues to advance quantum communication networks and computing capabilities at a pace that raises concerns about geopolitical imbalances in cryptographic sovereignty.

This quantum arms race reinforces the need for interoperable, globally coordinated solutions like SEALSQ’s QAI. By designing systems that are compatible with international standards and that incorporate ethical AI practices, SEALSQ is contributing to a digital ecosystem where security, sovereignty, and trust coexist.

Carlos Moreira concluded his remarks at the UNAOC event with a powerful reminder, “We stand at a crossroads, facing an uncertain but exciting future. The tools we develop today will shape how we live tomorrow. With QAI, we are creating not just secure technology, but a model of cooperation, equity, and foresight. A model where humans remain at the center of intelligence.”

The QAI Framework is already being integrated into SEALSQ’s broader ecosystem of secure semiconductors, IoT platforms, digital identity tools, and satellite communications systems. The company’s close collaboration with WISeKey and its strategic involvement in the HUMAN-AI-T initiative illustrate its long-term commitment to advancing secure, ethical, and inclusive technologies.

As the world enters a new era defined by the convergence of AI and quantum computing, initiatives like SEALSQ’s QAI Framework provide a pathway toward a secure digital civilization, one where technology serves humanity, not the other way around.

About SEALSQ:

SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.

SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.

For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

SEALSQ Corp.
Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
[email protected]

SEALSQ Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611
[email protected]

April 23, 2025 10:10 am

SAIHEAT Limited Initially Covered by uSMART Securities

SINGAPORE, April 23, 2025 (GLOBE NEWSWIRE) — SAIHEAT Limited (“SAIHEAT” or the “Company”) (NASDAQ: SAIH, SAITW), announced that the Company has been covered by uSMART Securities for launching an initial equity research report coverage on March 26, 2025.

Click Here
to view the full equity research report.

Company Highlights:

SAIH: A Hybrid Computing Provider and Energy Infrastructure Play at the Forefront of AI Acceleration

SAIHEAT is a computing and energy operator providing bitcoin (BTC) and AI computing services, in addition to liquid cooling and modular nuclear power solutions. As an emerging AI and BTC computing provider, SAIHEAT is capitalizing on the exponential growth in computing demand driven by efficiency innovations. Large language models such as DeepSeek V3, leveraging Mixture of Experts architecture (671 billion parameters, 37 billion activated) and R1-Zero reinforcement learning, have achieved 10-14 times efficiency gains. According to Jevons Paradox, these improvements, by lowering entry barriers (input costs of $0.27 per 1 million tokens), will catalyze even greater computing demand. SAIHEAT has built a customer base of small and medium-scale computing clients across Southeast Asia and North America, strengthening its competitive position in the computing infrastructure upgrade cycle through an integrated computing-energy model. In digital assets, the Company employs a dual-track strategy of self-operated and hosted services at its U.S. Marietta facility (106 PH/s) and Mexico’s La Pachuca operations (44 PH/s).
As a pioneer in data center liquid cooling solutions, SAIHEAT leverages its dual product line (A/B Series) strategy and Advanced Computing Center Ecosystem (ACCE) to capture critical opportunities driven by AI computing expansion. A Series products cover 30-384kW power range for AI data centers, while B Series products excel in BTC mining with 80% noise reduction. The Company integrates liquid cooling technology, heat recovery, and Small Modular Reactor (SMR) innovations to redefine data center infrastructure standards. With hyperscale cloud providers’ CapEx projected to reach $336 billion (increase of 32% year-on-year) by 2025, SAIHEAT is well-positioned to benefit from AI infrastructure expansion.
SAIHEAT’s differentiation manifests in four key dimensions: (1) innovative containerized AI computing solution enabling rapid 3-6 month deployment, offering flexible customization for small to medium-scale AI computing demands of 5-20 servers (40-160 GPUs); (2) proprietary liquid cooling technology supporting 40kW to over 200kW power ranges, leading the response to rapidly increasing AI GPU power requirements (from 400W to 1200W); leveraging 5 years of application-specific integrated circuit cooling experience, the Company has validated 10kW per rack cooling capacity, significantly outperforming traditional air cooling’s 15-20kW limit; (3) innovative three-tier thermal system (WITBOX liquid cooling servers, HEATBOX waste heat conversion and USERBOX application solutions) achieving 97% thermal efficiency, optimizing power usage effectiveness to 1.05, supporting 49-80°C heating range, generating 0.97kWh heat energy per 1kWh computing power, creating an “electricity computing-heat” business cycle; and (4) addressing U.S. grid supply-demand (S/D) imbalance (5 times demand growth to 128GW over five years, with only 19% grid connection rate for new 85GW capacity requirement) through OpenSMR initiative and OrbitBTC solar innovation.
SAIHEAT, an emerging computing and energy infrastructure operator is dedicated to advancing sustainable augmented intelligence,. Despite its current modest revenue scale, the Company’s innovative containerized IDC solution (3-6 month rapid deployment) and strategic global footprint across North America and Singapore enable efficient response to surging AI/BTC computing and liquid cooling demands while addressing L-T power S/D imbalances in clean energy transition.
Valuation: Based on financial year 2025E P/S multiple of 4 times, SAIHEAT represents a unique investment opportunity in data center infrastructure innovation and clean energy transition. uSMART initiated coverage with a Buy rating and $25.87 Price Target (FY2025E P/S=4x, FY2026E P/S=1.5x, FY2026E EV/EBITDA=23.1x, P/E=55.2x), supported by four key factors: (1) the Company’s first-mover advantage in capturing accelerating AI computing demand through rapid deployment capabilities and global presence; (2) strong pricing power through its ACCE (WITBOX, HEATBOX, USERBOX) amid structural S/D imbalance in data center infrastructure; (3) significant revenue growth potential from major client expansion, projecting 3-4 times growth over next 2-3 years with revenue forecasts of $5.45 million, $10.62 million and $28.15 million for financial years 2024E, 2025E and 2026E and EBITDA turning positive in financial year 2026E (negative $4.67 million, negative $0.19 million and positive $1.85 million in financial years 2024E, 2025E and 2026E); (4) and sustainable competitive advantage in data center infrastructure and clean energy transition through the integration of computing services, liquid cooling technology, waste heat recovery, and SMR energy innovation.

Investment Thesis: Click Here to view full Research Report and Investment Thesis.

About SAIHEAT

SAIHEAT Limited (NASDAQ: SAIH, SAITW) is a computing and energy operator dedicated to accelerating the realization of Sustainable Augmented Intelligence. Its computing division offers BTC joint computing power and AI cloud computing services, while its energy division provides liquid-cooled computing centers and small modular nuclear products.

Formerly known as SAI.TECH Global Corporation, SAIHEAT became a publicly traded company on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation in May 2022. For more information on SAIHEAT, please visit https://www.saiheat.com .

Safe Harbor Statement

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements include, but not limited to, statements concerning SAIHEAT’s operations, financial performance, and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. SAIHEAT cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic, and social conditions around the world including those discussed in SAIHEAT’s Form 20-F under the headings “Risk Factors”, “Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and SAIHEAT specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

Media Contact:

[email protected]

Investor Relations Contact:

[email protected]

WFS Investor Relations Inc.
Janice Wang
Email: [email protected]
Phone: +86 13811768599
+1 628 283 9214

April 23, 2025 10:10 am

John Marshall Bancorp, Inc. Reports Margin Expansion Drives 20% Increase in Net Interest Income, Balance Sheet Remains Source of Strength

John Marshall Bancorp, Inc. Reports Margin Expansion Drives 20% Increase in Net Interest Income, Balance Sheet Remains Source of Strength

RESTON, Va.–(BUSINESS WIRE)–
John Marshall Bancorp, Inc. (Nasdaq: JMSB) (the “Company”), parent company of John Marshall Bank (the “Bank”), reported net income of $4.8 million for the quarter ended March 31, 2025 compared to $4.2 million for the quarter ended March 31, 2024, an increase of $606 thousand or 14.4%. Diluted earnings per share were $0.34 for the quarter ended March 31, 2025 compared to $0.30 for the quarter ended March 31, 2024, an increase of 13.3%. For the quarter ended December 31, 2024, reported net income was $4.8 million or $0.33 per diluted share.

Selected Highlights

Earnings Accelerating – Pre-tax, pre-provision earnings (Non-GAAP) for the three months ended March 31, 2025 was $6.4 million, representing an increase of $1.7 million or 37.0% when compared to the three months ended March 31, 2024. Refer to “Explanation of Non-GAAP Measures” and the “Reconciliation of Certain Non-GAAP Financial Measures” table for further details about financial measures used in this release that were determined by methods other than in accordance with GAAP.

Significant Increase in Net Interest Income and Margin – For the three months ended March 31, 2025, the Company reported net interest income of $14.1 million, a $2.4 million or 20.0% increase over the $11.7 million reported for the three months ended March 31, 2024. The increase in net interest income was driven by growth in net interest margin. Net interest margin increased 47 basis points from 2.11% for the three months ended March 31, 2024 to 2.58% for the three months ended March 31, 2025.

Focused on Core Funding Growth – The Company remains focused on driving value through core funding growth. Non-interest bearing demand deposits grew 8.2% from March 31, 2024 to March 31, 2025. Non-interest bearing demand deposits increased from 21.3% of total deposits as of March 31, 2024 to 22.8% as of March 31, 2025. The Company decreased its wholesale funding sources by 8.8% from March 31, 2024 to March 31, 2025.

Excellent Asset Quality – As of March 31, 2025 the Company had no loans greater than 30 days past due, no non-accrual loans and no other real estate owned assets. The Company recorded no net charge-offs during the first quarter of 2025. The Company had zero loans classified as substandard as of March 31, 2025.

Robust Capitalization – Each of the Bank’s regulatory capital ratios remained well in excess of the regulatory well-capitalized thresholds as of March 31, 2025. The Company’s capitalization positions it well for organic growth, potential acquisitions, share repurchases or cash dividends.

Growing Book Value per Share – Book value per share increased from $16.51 as of March 31, 2024 to $17.72 as of March 31, 2025, a 7.3% increase. When factoring in the $0.25 cash dividend per share paid in July 2024, the book value per share return was 8.8%.

20% Annual Cash Dividend Increase – On April 22, 2025, the Company declared an annual cash dividend of $0.30 per outstanding share of common stock. The dividend will be payable on July 7, 2025 to shareholders of record as of the close of business on June 27, 2025. This per share amount equates to a 20.0% increase over the 2024 annual cash dividend and marks the third consecutive increase in the annual cash dividend per share.

Chris Bergstrom, President and Chief Executive Officer, commented, “Despite a quarter marked by economic volatility, John Marshall Bank continued to expand margin, increase earnings and book loan commitments that are prudently underwritten. In the first quarter of 2025, the Company produced $96.5 million in loan commitments; our strongest first quarter since 2022. In March alone, we booked over $46 million in commitments. The overlay of tariffs and government efficiency initiatives have restrained borrowing by business owners and individuals. We believe that our commitment activity will translate into loan growth once greater economic clarity is realized. The Washington, DC metropolitan statistical area, is one of the most vibrant and resilient metro areas in the country and the percentage of Federal employees that are not in defense or security positions, by our estimates, represents about 4% of the workforce. In addition to solid demographic underpinnings, banking consolidation continues in the Washington, DC area dislocating both customers and experienced bankers. Our balance sheet, represented by our strong capitalization and excellent asset quality, is a source of strength that we intend to use to grow our customer base, attract qualified bankers, increase core funding, grow loans sensibly and continue to drive earnings growth.”

Balance Sheet, Liquidity and Credit Quality

Total assets were $2.27 billion at March 31, 2025, $2.23 billion at December 31, 2024, and $2.25 billion at March 31, 2024. Total assets have increased $37.5 million or 1.7% since December 31, 2024 and increased $20.6 million or 0.9% since March 31, 2024.

Total loans, net of unearned income, increased $44.5 million or 2.4% to $1.87 billion at March 31, 2025, compared to $1.83 billion at March 31, 2024 and decreased $1.7 million during the quarter ended March 31, 2025 or 0.1% from December 31, 2024. The increase in loans from March 31, 2024, was primarily attributable to growth in the investor real estate loan and the construction & development loan portfolios, partially offset by a decrease in the commercial owner-occupied real estate loan portfolio. Refer to the Loan, Deposit and Borrowing table for further information.

The carrying value of the Company’s fixed income securities portfolio was $215.6 million at March 31, 2025, $222.3 million at December 31, 2024 and $253.4 million at March 31, 2024. The decrease in carrying value of the Company’s fixed income securities portfolio since March 31, 2024 was primarily attributable to maturities and the amortization of the portfolio. As of March 31, 2025, 95.3% of our bond portfolio carried the implied guarantee of the United States government or one of its agencies. At March 31, 2025, 63% of the fixed income portfolio was invested in amortizing bonds, which provides the Company with a source of steady cash flow. At March 31, 2025, the fixed income portfolio had an estimated weighted average life of 4.2 years. The available-for-sale portfolio comprised approximately 60% of the fixed income securities portfolio and had a weighted average life of 3.1 years at March 31, 2025. The held-to-maturity portfolio comprised approximately 40% of the fixed income securities portfolio and had a weighted average life of 5.8 years at March 31, 2025.

The Company’s balance sheet remains highly liquid. The Company’s liquidity position, defined as the sum of cash, unencumbered securities and available secured borrowing capacity, totaled $786.9 million as of March 31, 2025 compared to $727.3 million as of December 31, 2024 and represented 34.5% and 32.5% of total assets, respectively. In addition to available secured borrowing capacity, the Bank had available federal funds lines of $110.0 million at March 31, 2025.

Total deposits were $1.92 billion at March 31, 2025, $1.89 billion at December 31, 2024 and $1.90 billion at March 31, 2024. During the quarter, total deposits increased $29.8 million or 1.6% when compared to December 31, 2024. Deposits increased $21.2 million or 1.1% when compared to March 31, 2024. The Bank reduced costlier time deposits by $64.7 million since March 31, 2024. As further detailed in the tables included in this release, core funding sources have increased $35.2 million and wholesale funding sources have decreased $34.2 million since March 31, 2024. As of March 31, 2025, the Company had $660.8 million of deposits that were not insured or not collateralized compared to $627.1 million at March 31, 2024.

On September 3, 2024, the Company paid off its $77.0 million Bank Term Funding Program (“BTFP”) advance and concurrently secured three Federal Home Loan Bank (“FHLB”) advances totaling $56.0 million. The FHLB advances have a weighted average fixed interest rate of 4.01% compared to 4.76% for the retired BTFP advance. Total borrowings as of March 31, 2025 consisted of subordinated debt totaling $24.8 million and the FHLB advances.

Shareholders’ equity increased $18.4 million or 7.8% to $253.0 million at March 31, 2025 compared to $234.6 million at March 31, 2024. Book value per share was $17.72 as of March 31, 2025 compared to $16.51 as of March 31, 2024, an increase of 7.3%. The year-over-year change in book value per share was primarily due to the Company’s earnings over the previous twelve months and a decrease in accumulated other comprehensive loss. This increase was partially offset by increased cash dividends paid and increased share count from shareholder option exercises and restricted share award issuances. The decrease in accumulated other comprehensive loss was attributable to decreases in unrealized losses on our available-for-sale investment portfolio due to market value increases.

The Bank’s capital ratios remained well above regulatory thresholds for well-capitalized banks. As of March 31, 2025, the Bank’s total risk-based capital ratio was 16.5%, compared to 16.1% at March 31, 2024 and 16.2% at December 31, 2024. As outlined below, the Bank would continue to remain well above regulatory thresholds for well-capitalized banks at March 31, 2025 in the hypothetical scenario where the entire bond portfolio was sold at fair market value and any losses realized (Non-GAAP). Refer to “Explanation of Non-GAAP Measures” and the “Reconciliation of Certain Non-GAAP Financial Measures” table for further details about financial measures used in this release that were determined by methods other than in accordance with GAAP.


Bank Regulatory Capital Ratios (As Reported)
	Well-Capitalized Threshold		March 31, 2025		December 31, 2024		March 31, 2024
Total risk-based capital ratio	10.0	%	16.5	%	16.2	%	16.1	%
Tier 1 risk-based capital ratio	8.0	%	15.4	%	15.2	%	15.1	%
Common equity tier 1 ratio	6.5	%	15.4	%	15.2	%	15.1	%
Leverage ratio	5.0	%	12.6	%	12.4	%	11.8	%


Adjusted Bank Regulatory Capital Ratios (Hypothetical Scenario of Selling All Bonds at Fair Market Value – Non-GAAP)
	Well-Capitalized Threshold		March 31, 2025		December 31, 2024		March 31, 2024
Adjusted total risk-based capital ratio	10.0	%	15.7	%	15.3	%	15.0	%
Adjusted tier 1 risk-based capital ratio	8.0	%	14.6	%	14.2	%	14.0	%
Adjusted common equity tier 1 ratio	6.5	%	14.6	%	14.2	%	14.0	%
Adjusted leverage ratio	5.0	%	11.8	%	11.5	%	10.8	%

The Company recorded no charge-offs during the first quarter of 2025, the fourth quarter of 2024 or the first quarter of 2024. As of March 31, 2025, the Company had no loans greater than 30 days past due, no non-accrual loans and no other real estate owned assets.

At March 31, 2025, the allowance for loan credit losses was $18.8 million or 1.01% of outstanding loans, net of unearned income, compared to $18.7 million or 1.02% of outstanding loans, net of unearned income, at March 31, 2024. The decrease in the allowance as a percentage of outstanding loans, net of unearned income, resulted from changes in the Company’s loss driver analysis and assumptions, changes in the composition of the loan portfolio, and considerations of qualitative factors combined with the continued strong credit performance of our loan portfolio segments.

At March 31, 2025, the allowance for credit losses on unfunded loan commitments was $1.1 million compared to $1.1 million at December 31, 2024.

The Company did not have an allowance for credit losses on held-to-maturity securities as of March 31, 2025 or December 31, 2024. As of March 31, 2025, 93.4% of our held-to-maturity portfolio carried the implied guarantee of the United States Government or one of its agencies.

The Company’s owner occupied and non-owner occupied CRE portfolios continue to be of sound credit quality. The following table provides a detailed breakout of the two aforementioned segments as of March 31, 2025, demonstrating their strong debt-service-coverage and loan-to-value ratios.


Commercial Real Estate
	Owner Occupied							Non-owner Occupied
Asset Class	Weighted Average Loan-to-Value⁽¹⁾		Weighted Average Debt Service Coverage Ratio⁽²⁾		Number of Total Loans		Principal Balance⁽³⁾(Dollars in thousands)	Weighted Average Loan-to-Value⁽¹⁾		Weighted Average Debt Service Coverage Ratio⁽²⁾		Number of Total Loans		Principal Balance⁽³⁾(Dollars in thousands)
Warehouse & Industrial	49.4	%	3.3	x	54	$	68,271	50.4	%	2.6	x	45	$	114,251
Office	57.1	%	3.7	x	134		80,839	47.6	%	2.0	x	55		113,936
Retail	58.1	%	2.9	x	41		71,634	49.9	%	1.9	x	146		456,058
Church	26.9	%	2.7	x	17		29,484	– –		– –		– –		– –
Hotel/Motel	– –		– –		– –		– –	59.1	%	1.5	x	10		53,030
Other⁽⁴⁾	37.0	%	3.5	x	36		67,787	53.0	%	1.9	x	8		21,728
Total					282	$	318,015					264	$	759,003

(1)		Loan-to-value is determined at origination date and is divided by principal balance as of March 31, 2025.
(2)		The debt service coverage ratio (“DSCR”) is calculated from the primary source of repayment for the loan. Owner occupied DSCR’s are derived from cash flows from the owner occupant’s business, property and their guarantors, while non-owner occupied DSCR’s are derived from the net operating income of the property.
(3)		Principal balance excludes deferred fees or costs.
(4)		Other asset class is primarily comprised of schools, daycares and country clubs.

The following charts provide geographic detail and stated maturity summaries for the Company’s non-owner occupied office portfolio as of March 31, 2025:


Non-owner occupied office: Geography
Geography	Commitment (in 000s)	Percentage
Virginia	$78,608	65.7%
Maryland	$34,580	28.9%
DC	$5,922	5.0%
Other	$460	0.4%
Total	$119,570	100.0%


Non-owner occupied office: Maturity
Maturity Year	Commitment (in 000s)	Percentage
2025	$19.310	16.2%
2026	$5,877	4.9%
2027	$700	0.6%
2028	$19,032	15.9%
2029+	$74,651	62.4%
Total	$119,570	100.0%

Income Statement Review

The Company reported net income of $4.8 million for the first quarter of 2025, an increase of $606 thousand or 14.4% when compared to the first quarter of 2024. Pre-tax, pre provision earnings (Non-GAAP) were $6.4 million for the three months ended March 31, 2025, a 37.0% increase compared to the $4.6 million reported for the three months ended March 31, 2024.

Net interest income for the first quarter of 2025 increased $2.4 million or 20.0% compared to the first quarter of 2024, driven primarily by the increase in loan yields, reduction in the average balance of maturing deposits and borrowings, and the increase in the average balance of loans. The annualized net interest margin and tax-equivalent net interest margin (Non-GAAP) for the three months ended March 31, 2025 were 2.58% and 2.58%, as compared to 2.02% and 2.09%, respectively, for the same period in the prior year.

The yield on interest earning assets was 4.99% for the first quarter of 2025 compared to 4.83% for the same period in 2024. The increase in yield on interest earning assets was primarily due to higher yields on the Company’s commercial real estate portfolio. The cost of interest-bearing liabilities was 3.48% for the first quarter of 2025 compared to 3.81% for the same quarter in the prior year. The decrease in the cost of interest-bearing liabilities was primarily due to the decrease in the cost of non-maturing deposits, retail time deposits and borrowing costs.

The Company recorded a $170 thousand provision for credit losses for the first quarter of 2025 compared to a recovery of provision for credit losses of $776 thousand for the first quarter of 2024.

Non-interest income was $505 thousand for the first quarter of 2025 compared to $818 thousand for the first quarter of 2024. The $313 thousand decrease in non-interest income was primarily attributable to a decrease of $100 thousand due to unfavorable mark-to-market adjustments on investments related to the Company’s nonqualified deferred compensation plan (“NQDC”), a $97 thousand decrease in gains recorded on the sale of the guaranteed portion of SBA 7(a) loans due to decreased sale activity, a $64 thousand decrease in swap fee income and a $39 thousand decrease in insurance commissions.

Non-interest expense increased $324 thousand or 4.1% during the first quarter of 2025 compared to the first quarter of 2024 primarily as a result of an increase in salary and employee benefit expense. The $289 thousand or 6.0% increase in salary and employee benefit expense stemmed from the hiring of additional personnel. The Company hired three business development officers during the three months ended March 31, 2025. The Company’s occupancy expense decreased $44 thousand or 9.8% when comparing the three months ended March 31, 2025 to the same period in 2024. The decrease resulted from relocating a branch to a lower cost and more favorable location. Furniture and equipment expenses increased $19 thousand or 6.4% for the three months ended March 31, 2025 versus the comparable quarter a year ago. The increase resulted from investment in and maintenance of technology. Other expenses for the three months ended March 31, 2025 increased $60 thousand or 2.5% when compared to the three months ended March 31, 2024. Increases primarily in data processing and marketing were partially offset by a reduction in professional fees.

For the three months ended March 31, 2025, annualized non-interest expense to average assets was 1.50% compared to 1.41% for the three months ended March 31 2024. The increase was primarily due to lower average assets when comparing the two periods. For the three months ended March 31, 2025, the efficiency ratio was 56.5% compared to 63.1% for the three months ended March 31, 2024. This decrease was primarily due to an increase in net interest income.

Explanation of Non-GAAP Financial Measures

This release contains financial information determined by methods other than in accordance with GAAP. Management believes that the supplemental Non-GAAP information provides a better comparison of period-to-period operating performance and unrealized losses in the Company’s bond portfolio on the Bank’s regulatory capital ratios. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. Non-GAAP measures used in this release consist of the following:

Tax-equivalent net interest margin reflects adjustments for differences in tax treatment of interest income sources;
Adjusted Bank regulatory capital ratios in the hypothetical scenario where the entire bond portfolio was sold at fair market value and any losses realized; and
Pre-tax, pre-provision earnings excludes income tax expense and the provision for (recovery of) credit losses.

These disclosures should not be viewed as a substitute for, or more important than, financial results in accordance with GAAP, nor are they necessarily comparable to Non-GAAP performance measures which may be presented by other companies. Please refer to the Reconciliation of Certain Non-GAAP Financial Measures table and Average Balance Sheets, Interest and Rates tables for the respective periods for a reconciliation of these Non-GAAP measures to the most directly comparable GAAP measure.

About John Marshall Bancorp, Inc.

John Marshall Bancorp, Inc. is the bank holding company for John Marshall Bank. The Bank is headquartered in Reston, Virginia with eight full-service branches located in Alexandria, Arlington, Loudoun, Prince William, Reston, and Tysons, Virginia, as well as Rockville, Maryland, and Washington, D.C. The Bank is dedicated to providing exceptional value, personalized service and convenience to local businesses and professionals in the Washington, D.C. Metropolitan area. The Bank offers a comprehensive line of sophisticated banking products and services that rival those of the largest banks along with experienced staff to help achieve customers’ financial goals. Dedicated relationship managers serve as direct points-of-contact, providing subject matter expertise in a variety of niche industries including charter and private schools, government contractors, health services, nonprofits and associations, professional services, property management companies and title companies. Learn more at www.johnmarshallbank.com.

Cautionary Note Regarding Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,” “view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and the Bank include, but are not limited to, the following: the concentration of our business in the Washington, D.C. metropolitan area and the effect of changes in the economic, political and environmental conditions on this market, including reduction in spending by the U.S. Government; adequacy of our allowance for loan credit losses; allowance for unfunded commitments credit losses, and allowance for credit losses associated with our held-to-maturity and available-for-sale securities portfolios; deterioration of our asset quality; future performance of our loan portfolio with respect to recently originated loans; the level of prepayments on loans and mortgage-backed securities; liquidity, interest rate and operational risks associated with our business; changes in our financial condition or results of operations that reduce capital; our ability to maintain existing deposit relationships or attract new deposit relationships; changes in consumer spending, borrowing and savings habits; inflation and changes in interest rates that may reduce our margins or reduce the fair value of financial instruments; changes in the monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; additional risks related to new lines of business, products, product enhancements or services; increased competition with other financial institutions and fintech companies; adverse changes in the securities markets; changes in the financial condition or future prospects of issuers of securities that we own; our ability to maintain an effective risk management framework; changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory structure and in regulatory fees and capital requirements; compliance with legislative or regulatory requirements; results of examination of us by our regulators, including the possibility that our regulators may require us to increase our allowance for credit losses or to write-down assets or take similar actions; potential claims, damages, and fines related to litigation or government actions; the effectiveness of our internal controls over financial reporting and our ability to remediate any future material weakness in our internal controls over financial reporting; geopolitical conditions, including trade restrictions and tariffs, and acts or threats of terrorism and/or military conflicts, or actions taken by the U.S. or other governments in response to trade restrictions and tariffs, and acts or threats of terrorism and/or military conflicts, negatively impacting business and economic conditions in the U.S. and abroad; the effects of weather-related or natural disasters, which may negatively affect our operations and/or our loan portfolio and increase our cost of conducting business; public health events (such as the COVID-19 pandemic) and governmental and societal responses thereto; technological risks and developments, and cyber threats, attacks, or events; changes in accounting policies and practices; our ability to successfully capitalize on growth opportunities; our ability to retain key employees; deteriorating economic conditions, either nationally or in our market area, including higher unemployment and lower real estate values; implications of our status as a smaller reporting company and as an emerging growth company; and other factors discussed in the Company’s reports (such as our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.


John Marshall Bancorp, Inc.

Financial Highlights (Unaudited)
(Dollar amounts in thousands, except per share data)

	At or For the Three Months Ended
		March 31,
	2025			2024
*Selected Balance Sheet Data*
Cash and cash equivalents	$	169,060		$	153,016
Total investment securities		226,163			261,341
Loans, net of unearned income		1,870,472			1,825,931
Allowance for loan credit losses		18,826			18,671
Total assets		2,272,432			2,251,837
Non-interest bearing demand deposits		437,822			404,669
Interest bearing deposits		1,484,353			1,496,321
Total deposits		1,922,175			1,900,990
Federal Home Loan Bank advances		56,000			– –
Federal Reserve Bank borrowings		– –			77,000
Shareholders’ equity		252,958			234,550

*Summary Results of Operations*
Interest income	$	27,305		$	26,919
Interest expense		13,208			15,175
Net interest income		14,097			11,744
Provision for (recovery of) credit losses		170			(776)
Net interest income after provision for (recovery of) credit losses		13,927			12,520
Non-interest income		505			818
Non-interest expense		8,248			7,924
Income before income taxes		6,184			5,414
Net income		4,810			4,204

*Per Share Data and Shares Outstanding*
Earnings per share – basic	$	0.34		$	0.30
Earnings per share – diluted	$	0.34		$	0.30
Book value per share	$	17.72		$	16.51
Weighted average common shares (basic)		14,223,046			14,130,986
Weighted average common shares (diluted)		14,241,114			14,181,254
Common shares outstanding at end of period		14,275,885			14,209,606

*Performance Ratios*
Return on average assets (annualized)		0.87	%		0.75	%
Return on average equity (annualized)		7.76	%		7.23	%
Net interest margin		2.58	%		2.11	%
Tax-equivalent net interest margin (Non-GAAP)⁽¹⁾		2.58	%		2.11	%
Non-interest income as a percentage of average assets (annualized)		0.09	%		0.15	%
Non-interest expense to average assets (annualized)		1.50	%		1.41	%
Efficiency ratio		56.5	%		63.1	%

*Asset Quality*
Non-performing assets to total assets		– –	%		– –	%
Non-performing loans to total loans		– –	%		– –	%
Allowance for loan credit losses to non-performing loans		N/M			N/M
Allowance for loan credit losses to total loans		1.01	%		1.02	%
Net charge-offs to average loans (annualized)		– –	%		– –	%

Loans 30-89 days past due and accruing interest	$	– –		$	– –
90 days past due and still accruing interest		– –			– –
Non-accrual loans		– –			– –
Other real estate owned		– –			– –
Non-performing assets⁽²⁾		– –			– –

*Capital Ratios (Bank Level)*
Equity / assets		11.9	%		11.3	%
Total risk-based capital ratio		16.5	%		16.1	%
Tier 1 risk-based capital ratio		15.4	%		15.1	%
Common equity tier 1 ratio		15.4	%		15.1	%
Leverage ratio		12.6	%		11.8	%

*Other Information*
Number of full time equivalent employees		136			132
# Full service branch offices		8			8

____________________
(1)		Non-GAAP financial measure. Refer to “Average Balance, Interest and Rates table” for further details.
(2)		Non-performing assets consist of non-accrual loans, loans 90 days or more past due and still accruing interest and other real estate owned.


John Marshall Bancorp, Inc.

Consolidated Balance Sheets
(Dollar amounts in thousands, except per share data)

										% Change
	March 31,			December 31,			March 31,			Last Three		Year Over
	2025			2024			2024			Months		Year
Assets	(Unaudited)			*			(Unaudited)
Cash and due from banks	$	10,541		$	5,945		$	5,696		77.3	%	85.1	%
Interest-bearing deposits in banks		158,519			116,524			147,320		36.0	%	7.6	%
Securities available-for-sale, at fair value		124,469			130,257			158,757		(4.4	)%	(21.6	)%
Securities held-to-maturity at amortized cost, fair value of $77,455, $76,270, and $77,995 at 3/31/2025, 12/31/2024, and 3/31/2024, respectively.		91,172			92,009			94,662		(0.9	)%	(3.7	)%
Restricted securities, at cost		7,634			7,634			4,962		– –	%	53.8	%
Equity securities, at fair value		2,888			2,832			2,960		2.0	%	(2.4	)%
Loans, net of unearned income		1,870,472			1,872,173			1,825,931		(0.1	)%	2.4	%
Allowance for loan credit losses		(18,826	)		(18,715	)		(18,671	)	0.6	%	0.8	%
Net loans		1,851,646			1,853,458			1,807,260		(0.1	)%	2.5	%
Bank premises and equipment, net		1,484			1,318			1,244		12.6	%	19.3	%
Accrued interest receivable		5,902			5,996			6,410		(1.6	)%	(7.9	)%
Right of use assets		4,752			5,013			3,872		(5.2	)%	22.7	%
Other assets		13,425			13,961			18,694		(3.8	)%	(28.2	)%
Total assets	$	2,272,432		$	2,234,947		$	2,251,837		1.7	%	0.9	%

Liabilities and Shareholders’ Equity

Liabilities
Deposits:
Non-interest bearing demand deposits	$	437,822		$	433,288		$	404,669		1.0	%	8.2	%
Interest-bearing demand deposits		705,386			705,097			644,580		0.0	%	9.4	%
Savings deposits		42,583			44,367			50,664		(4.0	)%	(16.0	)%
Time deposits		736,384			709,663			801,077		3.8	%	(8.1	)%
Total deposits		1,922,175			1,892,415			1,900,990		1.6	%	1.1	%
Federal Home Loan Bank advances		56,000			56,000			– –		– –	%	N/M
Federal Reserve Bank borrowings		– –			– –			77,000		N/M		(100.0	)%
Subordinated debt, net		24,812			24,791			24,729		0.1	%	0.3	%
Accrued interest payable		2,072			2,394			2,949		(13.5	)%	(29.7	)%
Lease liabilities		5,101			5,369			4,141		(5.0	)%	23.2	%
Other liabilities		9,314			7,364			7,478		26.5	%	24.6	%
Total liabilities		2,019,474			1,988,333			2,017,287		1.6	%	0.1	%

Shareholders’ Equity
Preferred stock, par value $0.01 per share; authorized 1,000,000 shares; none issued		– –			– –			– –		N/M		N/M
Common stock, nonvoting, par value $0.01 per share; authorized 1,000,000 shares; none issued		– –			– –			– –		N/M		N/M
Common stock, voting, par value $0.01 per share; authorized 30,000,000 shares; issued and outstanding, 14,275,885 at 3/31/25 including 50,419 unvested shares, issued and outstanding, 14,269,469 at 12/31/2024 including 54,388 unvested shares, and issued and outstanding, 14,209,606 at 3/31/2024 including 45,929 unvested shares		142			142			142		– –	%	– –	%
Additional paid-in capital		97,310			97,173			96,469		0.1	%	0.9	%
Retained earnings		164,761			159,951			150,592		3.0	%	9.4	%
Accumulated other comprehensive loss		(9,255	)		(10,652	)		(12,653	)	(13.1	)%	(26.9	)%
Total shareholders’ equity		252,958			246,614			234,550		2.6	%	7.8	%
Total liabilities and shareholders’ equity	$	2,272,432		$	2,234,947		$	2,251,837		1.7	%	0.9	%

* Derived from audited consolidated financial statements.


John Marshall Bancorp, Inc.

Consolidated Statements of Income
(Dollar amounts in thousands, except per share data)

	Three Months Ended
	March 31,
	2025			2024			% Change
	(Unaudited)			(Unaudited)
Interest and Dividend Income
Interest and fees on loans	$	24,807		$	23,623		5.0	%
Interest on investment securities, taxable		1,032			1,269		(18.7	)%
Interest on investment securities, tax-exempt		9			9		0.0	%
Dividends		123			82		50.0	%
Interest on deposits in other banks		1,334			1,936		(31.1	)%
Total interest and dividend income		27,305			26,919		1.4	%

Interest Expense
Deposits		12,300			13,931		(11.7	)%
Federal funds purchased		– –			2		(100.0	)%
Federal Home Loan Bank advances		559			– –		N/M
Federal Reserve Bank borrowings		– –			893		(100.0	)%
Subordinated debt		349			349		—	%
Total interest expense		13,208			15,175		(13.0	)%

Net interest income		14,097			11,744		20.0	%

Provision for (recovery of) Credit Losses		170			(776	)	(121.9	)%

Net interest income after provision for (recovery of) credit losses		13,927			12,520		11.2	%

Non-interest Income
Service charges on deposit accounts		82			88		(6.8	)%
Other service charges and fees		153			149		2.7	%
Insurance commissions		213			252		(15.5	)%
Gain on sale of government guaranteed loans		36			133		(72.9	)%
Non-qualified deferred compensation plan asset gains, net		24			124		(80.6	)%
Other income (loss)		(3	)		72		(104.2	)%
Total non-interest income		505			818		(38.3	)%

Non-interest Expenses
Salaries and employee benefits		5,099			4,810		6.0	%
Occupancy expense of premises		407			451		(9.8	)%
Furniture and equipment expenses		316			297		6.4	%
Other expenses		2,426			2,366		2.5	%
Total non-interest expenses		8,248			7,924		4.1	%

Income before income taxes		6,184			5,414		14.2	%

Income Tax Expense		1,374			1,210		13.6	%

Net income	$	4,810		$	4,204		14.4	%

Earnings Per Share
Basic	$	0.34		$	0.30		13.3	%
Diluted	$	0.34		$	0.30		13.3	%


John Marshall Bancorp, Inc.

Historical Trends – Quarterly Financial Data (Unaudited)
(Dollar amounts in thousands, except per share data)

	2025				2024
	March 31			December 31			September 30			June 30				March 31
Profitability for the Quarter:
Interest income	$	27,305		$	27,995		$	28,428		$	26,791		$	26,919
Interest expense		13,208			13,929			15,272			14,710			15,175
Net interest income		14,097			14,066			13,156			12,081			11,744
Provision for (recovery of) credit losses		170			298			400			(292	)		(776	)
Non-interest income		505			281			617			555			818
Non-interest expenses		8,248			7,945			8,031			7,909			7,924
Income before income taxes		6,184			6,104			5,342			5,019			5,414
Income tax expense		1,374			1,328			1,107			1,114			1,210
Net income	$	4,810		$	4,776		$	4,235		$	3,905		$	4,204

Financial Performance:
Return on average assets (annualized)		0.87	%		0.85	%		0.73	%		0.70	%		0.75	%
Return on average equity (annualized)		7.76	%		7.71	%		7.00	%		6.68	%		7.23	%
Net interest margin		2.58	%		2.52	%		2.30	%		2.19	%		2.11	%
Tax-equivalent net interest margin (Non-GAAP)		2.58	%		2.52	%		2.30	%		2.19	%		2.11	%
Non-interest income as a percentage of average assets (annualized)		0.09	%		0.05	%		0.11	%		0.10	%		0.15	%
Non-interest expense to average assets (annualized)		1.50	%		1.41	%		1.39	%		1.42	%		1.41	%
Efficiency ratio		56.5	%		55.4	%		58.3	%		62.6	%		63.1	%

Per Share Data:
Earnings per share – basic	$	0.34		$	0.34		$	0.30		$	0.27		$	0.30
Earnings per share – diluted	$	0.34		$	0.33		$	0.30		$	0.27		$	0.30
Book value per share	$	17.72		$	17.28		$	17.07		$	16.54		$	16.51
Dividends declared per share	$	– –		$	– –		$	– –		$	0.25		$	– –
Weighted average common shares (basic)		14,223,046			14,196,309			14,187,691			14,173,245			14,130,986
Weighted average common shares (diluted)		14,241,114			14,224,287			14,214,586			14,200,171			14,181,254
Common shares outstanding at end of period		14,275,885			14,269,469			14,238,677			14,229,853			14,209,606

Non-interest Income:
Service charges on deposit accounts	$	82		$	89		$	84		$	88		$	88
Other service charges and fees		153			181			160			165			149
Insurance commissions		213			59			64			40			252
Gain on sale of government guaranteed loans		36			11			160			216			133
Non-qualified deferred compensation plan asset gains (losses), net		24			(62	)		139			35			124
Other income (loss)		(3	)		3			10			11			72
Total non-interest income	$	505		$	281		$	617		$	555		$	818

Non-interest Expenses:
Salaries and employee benefits	$	5,099		$	4,658		$	4,897		$	4,875		$	4,810
Occupancy expense of premises		407			417			444			448			451
Furniture and equipment expenses		316			319			304			301			297
Other expenses		2,426			2,551			2,386			2,285			2,366
Total non-interest expenses	$	8,248		$	7,945		$	8,031		$	7,909		$	7,924

Balance Sheets at Quarter End:
Total loans, net of unearned income	$	1,870,472		$	1,872,173		$	1,842,598		$	1,827,187		$	1,825,931
Allowance for loan credit losses		(18,826	)		(18,715	)		(18,481	)		(18,433	)		(18,671	)
Investment securities		226,163			232,732			247,840			249,582			261,341
Interest-earning assets		2,255,154			2,221,429			2,259,501			2,249,350			2,234,592
Total assets		2,272,432			2,234,947			2,274,363			2,269,757			2,251,837
Total deposits		1,922,175			1,892,415			1,936,150			1,912,840			1,900,990
Total interest-bearing liabilities		1,565,165			1,539,918			1,544,498			1,577,420			1,598,050
Total shareholders’ equity		252,958			246,614			243,118			235,346			234,550

Quarterly Average Balance Sheets:
Total loans, net of unearned income	$	1,868,303		$	1,838,526		$	1,818,472		$	1,810,722		$	1,835,966
Investment securities		231,479			243,329			249,354			255,940			270,760
Interest-earning assets		2,220,730			2,223,725			2,277,427			2,222,658			2,247,620
Total assets		2,233,627			2,238,062			2,292,385			2,239,261			2,264,544
Total deposits		1,884,969			1,893,976			1,939,601			1,883,010			1,914,173
Total interest-bearing liabilities		1,540,974			1,532,452			1,573,631			1,551,953			1,600,197
Total shareholders’ equity		251,425			246,525			240,609			235,136			233,952

Financial Measures:
Average equity to average assets		11.3	%		11.0	%		10.5	%		10.5	%		10.3	%
Investment securities to earning assets		10.0	%		10.5	%		11.0	%		11.1	%		11.7	%
Loans to earning assets		82.9	%		84.3	%		81.5	%		81.2	%		81.7	%
Loans to assets		82.3	%		83.8	%		81.0	%		80.5	%		81.1	%
Loans to deposits		97.3	%		98.9	%		95.2	%		95.5	%		96.1	%

Capital Ratios (Bank Level):
Equity / assets		11.9	%		11.9	%		11.6	%		11.4	%		11.3	%
Total risk-based capital ratio		16.5	%		16.2	%		16.3	%		16.4	%		16.1	%
Tier 1 risk-based capital ratio		15.4	%		15.2	%		15.3	%		15.4	%		15.1	%
Common equity tier 1 ratio		15.4	%		15.2	%		15.3	%		15.4	%		15.1	%
Leverage ratio		12.6	%		12.4	%		11.9	%		12.2	%		11.8	%


John Marshall Bancorp, Inc.

Loan, Deposit and Borrowing Detail (Unaudited)
(Dollar amounts in thousands)

	2025					2024
	March 31					December 31					September 30					June 30					March 31
Loans		$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total
Commercial business loans	$	46,479		2.5	%	$	47,612		2.5	%	$	39,741		2.2	%	$	41,806		2.3	%	$	42,779		2.3	%
Commercial PPP loans		124		0.0	%		124		0.0	%		126		0.0	%		127		0.0	%		129		0.0	%
Commercial owner-occupied real estate loans		318,087		17.1	%		329,222		17.6	%		343,906		18.7	%		349,644		19.2	%		356,335		19.6	%
Total business loans		364,690		19.6	%		376,958		20.2	%		383,773		20.9	%		391,577		21.5	%		399,243		21.9	%

Investor real estate loans		759,002		40.7	%		757,173		40.5	%		726,771		39.5	%		722,419		39.6	%		692,418		38.0	%
Construction & development loans		173,270		9.3	%		164,988		8.8	%		161,466		8.8	%		138,744		7.6	%		151,476		8.3	%
Multi-family loans		95,556		5.1	%		94,695		5.1	%		91,426		5.0	%		91,925		5.1	%		94,719		5.2	%
Total commercial real estate loans		1,027,828		55.1	%		1,016,856		54.4	%		979,663		53.3	%		953,088		52.3	%		938,613		51.5	%

Residential mortgage loans		472,747		25.3	%		472,932		25.3	%		473,787		25.8	%		476,764		26.2	%		482,254		26.5	%
Consumer loans		809		0.0	%		906		0.0	%		877		0.0	%		876		0.0	%		772		0.1	%
Total loans	$	1,866,074		100.0	%	$	1,867,652		100.0	%	$	1,838,100		100.0	%	$	1,822,305		100.0	%	$	1,820,882		100.0	%
Less: Allowance for loan credit losses		(18,826	)				(18,715	)				(18,481	)				(18,433	)				(18,671	)
Net deferred loan costs (fees)		4,398					4,521					4,498					4,882					5,049
Net loans	$	1,851,646				$	1,853,458				$	1,824,117				$	1,808,754				$	1,807,260


	2025					2024
	March 31					December 31					September 30					June 30					March 31
Deposits		$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total
Non-interest bearing demand deposits	$	437,822		22.8	%	$	433,288		22.9	%	$	472,422		24.4	%	$	437,169		22.8	%	$	404,669		21.3	%
Interest-bearing demand deposits:
NOW accounts⁽¹⁾		355,752		18.5	%		355,840		18.8	%		324,660		16.8	%		321,702		16.8	%		318,445		16.8	%
Money market accounts⁽¹⁾		349,634		18.2	%		349,257		18.5	%		360,725		18.6	%		346,249		18.1	%		326,135		17.1	%
Savings accounts		42,583		2.2	%		44,367		2.3	%		43,779		2.3	%		45,884		2.4	%		50,664		2.7	%
Certificates of deposit
$250,000 or more		322,630		16.8	%		315,549		16.7	%		334,591		17.3	%		339,908		17.8	%		355,766		18.7	%
Less than $250,000		79,305		4.1	%		83,060		4.4	%		86,932		4.5	%		91,258		4.8	%		99,694		5.2	%
QwickRate® certificates of deposit		249		0.0	%		249		0.0	%		4,119		0.2	%		4,119		0.2	%		5,117		0.3	%
IntraFi® certificates of deposit		36,522		1.9	%		34,288		1.8	%		32,801		1.7	%		32,922		1.7	%		34,443		1.8	%
Brokered deposits		297,678		15.5	%		276,517		14.6	%		276,121		14.2	%		293,629		15.4	%		306,057		16.1	%
Total deposits	$	1,922,175		100.0	%	$	1,892,415		100.0	%	$	1,936,150		100.0	%	$	1,912,840		100.0	%	$	1,900,990		100.0	%

Borrowings
Federal Home Loan Bank advances		56,000		69.3	%		56,000		69.3	%		56,000		69.3	%		– –		0.0	%		– –		0.0	%
Federal Reserve Bank borrowings		– –		0.0	%		– –		0.0	%		– –		0.0	%		77,000		75.7	%		77,000		75.7	%
Subordinated debt, net		24,812		30.7	%		24,791		30.7	%		24,770		30.7	%		24,749		24.3	%		24,729		24.3	%
Total borrowings	$	80,812		100.0	%	$	80,791		100.0	%	$	80,770		100.0	%	$	101,749		100.0	%	$	101,729		100.0	%

Total deposits and borrowings	$	2,002,987				$	1,973,206				$	2,016,920				$	2,014,589				$	2,002,719

Core customer funding sources ⁽²⁾	$	1,624,248		82.1	%	$	1,615,649		82.9	%	$	1,655,910		83.1	%	$	1,615,092		81.2	%	$	1,589,816		80.4	%
Wholesale funding sources ⁽³⁾		353,927		17.9	%		332,766		17.1	%		336,240		16.9	%		374,748		18.8	%		388,174		19.6	%
Total funding sources	$	1,978,175		100.0	%	$	1,948,415		100.0	%	$	1,992,150		100.0	%	$	1,989,840		100.0	%	$	1,977,990		100.0	%

____________________
(1)		Includes IntraFi^® accounts.
(2)		Includes reciprocal IntraFi Demand^®, IntraFi Money Market^® and IntraFi CD^® deposits, which are maintained by customers.
(3)		Consists of QwickRate^® certificates of deposit, brokered deposits, federal funds purchased, Federal Home Loan Bank advances and Federal Reserve Bank borrowings.


John Marshall Bancorp, Inc.

Average Balance Sheets, Interest and Rates (unaudited)
(Dollar amounts in thousands)

	Three Months Ended March 31, 2025						Three Months Ended March 31, 2024
			Interest Income /		Average				Interest Income /		Average
*(Dollars in thousands)*	Average Balance		Expense		Rate		Average Balance		Expense		Rate
Assets:
Securities:
Taxable	$	230,100	$	1,155	2.04	%	$	269,380	$	1,351	2.02	%
Tax-exempt⁽¹⁾		1,379		11	3.24	%		1,380		11	3.21	%
Total securities	$	231,479	$	1,166	2.04	%	$	270,760	$	1,362	2.02	%
Loans, net of unearned income⁽²⁾:
Taxable		1,851,627		24,679	5.41	%		1,813,528		23,458	5.20	%
Tax-exempt⁽¹⁾		16,676		162	3.94	%		22,438		209	3.75	%
Total loans, net of unearned income	$	1,868,303	$	24,841	5.39	%	$	1,835,966	$	23,667	5.18	%
Interest-bearing deposits in other banks	$	120,948	$	1,334	4.47	%	$	140,894	$	1,936	5.53	%
Total interest-earning assets	$	2,220,730	$	27,341	4.99	%	$	2,247,620	$	26,965	4.83	%
Total non-interest earning assets		13,031						16,924
Total assets	$	2,233,761					$	2,264,544
Liabilities & Shareholders’ Equity:
Interest-bearing deposits
NOW accounts	$	357,206		2,127	2.41	%	$	313,478	$	2,199	2.82	%
Money market accounts		339,248		2,281	2.73	%		324,753		2,576	3.19	%
Savings accounts		43,062		104	0.98	%		53,064		175	1.33	%
Time deposits		720,658		7,788	4.38	%		808,845		8,981	4.47	%
Total interest-bearing deposits	$	1,460,174	$	12,300	3.42	%	$	1,500,140	$	13,931	3.73	%
Federal funds purchased		—		—	N/M			110		2	7.31	%
Subordinated debt		24,799		349	5.71	%		24,716		349	5.68	%
Federal Reserve Bank borrowings		—		—	N/M	%		75,231		893	4.77	%
Federal Home Loan Bank advances		56,001		559	4.05	%		—		—	NM	%
Total interest-bearing liabilities	$	1,540,974	$	13,208	3.48	%	$	1,600,197	$	15,175	3.81	%
Demand deposits		424,795						414,033
Other liabilities		16,433						16,362
Total liabilities	$	1,982,202					$	2,030,592
Shareholders’ equity	$	251,559					$	233,952
Total liabilities and shareholders’ equity	$	2,233,761					$	2,264,544

Tax-equivalent net interest income and spread (Non-GAAP)⁽¹⁾			$	14,133	1.51	%			$	11,790	1.02	%
Less: tax-equivalent adjustment				36						46
Net interest income and spread (GAAP)			$	14,097	1.51	%			$	11,744	1.02	%

Interest income/earning assets					4.99	%					4.83	%
Interest expense/earning assets					2.41	%					2.72	%
Net interest margin					2.58	%					2.11	%

Tax-equivalent interest income/earning assets (Non-GAAP)⁽¹⁾					4.99	%					4.83	%
Interest expense/earning assets					2.41	%					2.72	%
Tax-equivalent net interest margin (Non-GAAP)⁽³⁾					2.58	%					2.11	%

____________________
(1)		Tax-equivalent income and related measures have been adjusted using the federal statutory tax rate of 21%. The annualized taxable-equivalent adjustments utilized in the above table to compute yields aggregated to $36 thousand and $46 thousand for the three months ended March 31, 2025 and March 31, 2024, respectively.
(2)		The Company did not have any loans on non-accrual as of March 31, 2025 and March 31, 2024.
(3)		Tax-equivalent net interest margin adjusts for differences in tax treatment of interest income sources. The entire tax-equivalent adjustment is attributable to interest income on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the tax-equivalent components.


John Marshall Bancorp, Inc.

Reconciliation of Certain Non-GAAP Financial Measures (unaudited)
(Dollar amounts in thousands)
	As of
	March 31, 2025			December 31, 2024				March 31, 2024
Regulatory Ratios (Bank)
Total risk-based capital (GAAP)	$	300,729		$	295,119		$	286,038
Less: Unrealized losses on available-for-sale securities, net of tax benefit⁽¹⁾		9,328			10,732			12,781
Less: Unrealized losses on held-to-maturity securities, net of tax benefit⁽¹⁾		10,836			12,353			13,040
Adjusted total risk-based capital, excluding unrealized losses on available-for-sale and held-to-maturity securities, net of tax benefit (Non-GAAP)	$	280,565		$	272,034		$	260,217

Tier 1 capital (GAAP)	$	281,335		$	276,468		$	267,795
Less: Unrealized losses on available-for-sale securities, net of tax benefit⁽¹⁾		9,328			10,732			12,781
Less: Unrealized losses on held-to-maturity securities, net of tax benefit⁽¹⁾		10,836			12,353			13,040
Adjusted tier 1 capital, excluding unrealized losses on available-for-sale and held-to-maturity securities, net of tax benefit (Non-GAAP)	$	261,171		$	253,383		$	241,974

Risk weighted assets (GAAP)	$	1,822,248		$	1,819,888		$	1,774,474
Less: Risk weighted available-for-sale securities		19,154			19,623			23,356
Less: Risk weighted held-to-maturity securities		16,320			16,462			16,934
Adjusted risk weighted assets, excluding available-for-sale and held-to-maturity securities (Non-GAAP)	$	1,786,774		$	1,783,803		$	1,734,184

Total average assets for leverage ratio (GAAP)	$	2,230,821		$	2,235,952		$	2,262,501
Less: Unrealized losses on available-for-sale securities, net of tax benefit⁽¹⁾		9,328			10,732			12,781
Less: Unrealized losses on held-to-maturity securities, net of tax benefit⁽¹⁾		10,836			12,353			13,040
Adjusted total average assets for leverage ratio, excluding available-for-sale and held-to-maturity securities (Non-GAAP)	$	2,210,657		$	2,212,867		$	2,236,680

Total risk-based capital ratio⁽²⁾
Total risk-based capital ratio (GAAP)		16.5	%		16.2	%		16.1	%
Adjusted total risk-based capital ratio (Non-GAAP) ⁽³⁾		15.7	%		15.3	%		15.0	%

Tier 1 capital ratio⁽⁴⁾
Tier 1 risk-based capital ratio (GAAP)		15.4	%		15.2	%		15.1	%
Adjusted tier 1 risk-based capital ratio (Non-GAAP) ⁽⁵⁾		14.6	%		14.2	%		14.0	%

Common equity tier 1 ratio⁽⁶⁾
Common equity tier 1 ratio (GAAP)		15.4	%		15.2	%		15.1	%
Adjusted common equity tier 1 ratio (Non-GAAP) ⁽⁷⁾		14.6	%		14.2	%		14.0	%

Leverage ratio⁽⁸⁾
Leverage ratio (GAAP)		12.6	%		12.4	%		11.8	%
Adjusted leverage ratio (Non-GAAP) ⁽⁹⁾		11.8	%		11.5	%		10.8	%

____________________
(1)		Includes tax benefit calculated using the federal statutory tax rate of 21%.
(2)		The total risk-based capital ratio is calculated by dividing total risk-based capital by risk weighted assets.
(3)		The adjusted total risk-based capital ratio is calculated by dividing adjusted total risk-based capital by adjusted risk weighted assets.
(4)		The tier 1 capital ratio is calculated by dividing tier 1 capital by risk weighted assets.
(5)		The adjusted tier 1 capital ratio is calculated by dividing adjusted tier 1 capital by adjusted risk weighted assets.
(6)		The common equity tier 1 ratio is calculated by dividing tier 1 capital by risk weighted assets.
(7)		The adjusted common equity tier 1 ratio is calculated by dividing adjusted tier 1 capital by adjusted risk weighted assets.
(8)		The leverage ratio is calculated by dividing tier 1 capital by total average assets for leverage ratio.
(9)		The adjusted leverage ratio is calculated by dividing adjusted tier 1 capital by adjusted total average assets for leverage ratio.


John Marshall Bancorp, Inc.

Reconciliation of Certain Non-GAAP Financial Measures (unaudited)
(Dollar amounts in thousands, except per share data)

	For the Three Months Ended
		March 31, 2025		December 31, 2024		March 31, 2024
Pre-tax, pre-provision earnings (Non-GAAP)
Income before income taxes	$	6,184	$	6,104	$	5,414
Adjustment: Provision for (recovery of) credit losses		170		298		(776	)
Pre-tax, pre-provision earnings (Non-GAAP)⁽¹⁾	$	6,354	$	6,402	$	4,638

(1) Pre-tax, pre-provision earnings is calculated by adjusting income before taxes for provision for (recovery of) credit losses.

Category: Earnings

View source version on businesswire.com: https://www.businesswire.com/news/home/20250423016848/en/

Christopher W. Bergstrom, (703) 584-0840

Kent D. Carstater, (703) 289-5922

KEYWORDS: United States North America District of Columbia Virginia

INDUSTRY KEYWORDS: Banking Professional Services Finance

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April 23, 2025 10:10 am

ZipRecruiter Study Finds Expectations and Reality Collide for the Graduating Class of 2025

ZipRecruiter Study Finds Expectations and Reality Collide for the Graduating Class of 2025

Annual Grad Survey reveals insights into recent and rising grads’ job search experience, pay expectations, job preferences, and the future job market

SANTA MONICA, Calif.–(BUSINESS WIRE)–ZipRecruiter®, a leading online employment marketplace, released its annual grad report, The Graduate Divide: Expectations vs. Reality for the Class of 2025. Based on a dual survey of rising and recent college graduates, the report reveals that graduates’ expectations often clash with reality—especially when it comes to the job search experience, pay, job preferences, and views of the future job market.

The job search and salary realities:

Graduates found the job search took longer than they expected. 82% of rising grads are expecting to start working within three monthsof graduating, however, only 77% of recent grads accomplished that, and 5% are still searching for their first job.

Graduates found salaries didn’t meet expectations, with 42% of recent grads reporting they couldn’t secure the pay they wanted.

Rising graduates expect to make six figures ($101,500 on average), but the majority may fall short. The average starting salary for recent grads surveyed was $68,400.

Rising grads want jobs with flexibility, but recent grads report they are hard to come by. 90% of rising grads say schedule flexibility is very important to them but according to recent grads, they’ll be hard pressed to land such a role as only 29% report having very flexible jobs.

“Navigating the transition from campus to career can be a challenge for new grads, especially given the unpredictable market this class is stepping into. The grads who will come out ahead are those who start their search early, stay open to different paths, and keep at it, even if things don’t go exactly as planned,” said Ian Siegel, ZipRecruiter Co-Founder and CEO. “Remember, your first job isn’t your final destination—it’s just the beginning of your journey.”

Other report highlights include:

Nursing and allied health topped the charts as the most useful majors based on an in-depth analysis of three stages of the college experience – major selection, job search, and job outcomes.

Male grads’ salaries are outpacing their female counterparts, with men earning $72,700 per year and women earning $67,500 right out of the gate, on average.

Internships aren’t converting into full-time employment like they once did, with only 9.7% of recent grads saying an internship or apprenticeship helped them land a job—compared to nearly 40% of rising grads who believe it will be their ticket to full-time work.

AI is a looming concern for grads, with 47% of new grads and 46% of rising grads believing their field has or will have fewer jobs due to AI.

Industries hiring the most entry-level roles for recent grads include nursing, special education, and electronics engineering.

To view the full report, including additional data insights and methodology, please visit: ziprecruiter-research.org/annual-grad-report

About ZipRecruiter

ZipRecruiter® (NYSE: ZIP) is a leading online employment marketplace that actively connects people to their next great opportunity. ZipRecruiter’s powerful matching technology improves the job search experience for job seekers and helps businesses of all sizes find and hire the right candidates quickly. ZipRecruiter has been the #1 rated job search app on iOS & Android for the past eight years¹ and is rated the #1 employment job site by G2.² For more information, visit www.ziprecruiter.com.

1 Based on job seeker app ratings, during the period of January 2017 to January 2025 from AppFollow for ZipRecruiter, CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster.

2 Based on G2 satisfaction ratings as of January 10, 2025.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250423793564/en/

Media Contact

Claire Walsh, Press Relations

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Apps/Applications Technology Human Resources Consulting Professional Services Software Internet Generation Z Data Analytics Consumer

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Posted on April 23, 2025 10:10 am
Perella Weinberg to Announce First Quarter 2025 Financial Results and to Host Conference Call on May 2, 2025

NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — Perella Weinberg Partners (NASDAQ:PWP), a leading global independent advisory firm, today announced that it plans to release its financial results for the first quarter 2025 on Friday, May 2, 2025, before the market opens.

Conference Call and Webcast
Management will host a conference call and webcast to review Perella Weinberg’s results on the same day at 9:00AM ET. A webcast of the conference call will be available to the public on a listen-only basis and can be accessed through the Investors section of the Company’s website at https://investors.pwpartners.com.

The conference call can also be accessed by the following dial-in information:

Domestic: (800) 267-6316

International: (203) 518-9783

Conference ID: PWPQ125

Replay
A replay of the call will also be available two hours after the live call through May 9, 2025. To access the replay, dial (800) 756-0554 (Domestic) or (402) 220-7213 (International). The replay can also be accessed on the Investors section of the Company’s website at https://investors.pwpartners.com.

About Perella Weinberg
Perella Weinberg is a leading global independent advisory firm, providing strategic and financial advice to a broad client base, including corporations, financial sponsors, governments, and sovereign wealth funds. The Firm offers a wide range of advisory services to clients in some of the most active industry sectors and global markets. With approximately 700 employees, Perella Weinberg currently maintains offices in New York, London, Houston, Los Angeles, San Francisco, Paris, Chicago, Munich, Denver, and Calgary.

Contacts

For Perella Weinberg Investor Relations: [email protected]
For Perella Weinberg Media: [email protected]

Posted on April 23, 2025 10:10 am
GoDaddy Agency: A New Way to Help Digital Consultants Grow

PR Newswire

New partner program provides agencies with exclusive access to GoDaddy’s small business base

TEMPE, Ariz.
, April 23, 2025 /PRNewswire/ — GoDaddy (NYSE: GDDY) today announced the launch of GoDaddy Agency, a new partner program connecting digital agencies with small and mid-sized business leads and access to comprehensive tools, services and support to grow their client offerings.

With millions of entrepreneurs already using GoDaddy’s tools, GoDaddy Agency is positioned as a strategic referral partner for digital agencies looking to scale their business efficiently through a steady stream of qualified leads.

Freelance, web developer, web design and digital marketing consulting agencies in the U.S. can all take advantage of GoDaddy Agency to grow their client base and revenue—once part of the exclusive GoDaddy Agency program, they will be matched with small and mid-sized business customers interested in receiving professional support.

GoDaddy Agency also helps such agency partners succeed by providing the tools, support, and insights they need to more efficiently and cost effectively build websites, manage digital marketing campaigns, launch online stores, and run client projects—empowering agencies to win more work and deliver better results.

“This program is designed to build meaningful connections between small businesses and the agency experts who can help bring their vision to life,” said Joseph Palumbo, Go-to-Market and Agency Programs Director at GoDaddy. “By supporting both sides of the relationship – small businesses seeking services and design experts ready to deliver them – we’re fostering ongoing partnerships built for mutual growth.”

Built to Help Agencies Grow

The GoDaddy Agency program gives agency partners digital benefits to help their businesses:

Earn up to 20% commission on new client purchases made through a unique referral link.

Get matched with prospective clients based on their agency’s strengths, focus areas and growth goals.

Access premium WordPress tools and expert support to resolve issues quickly and deliver on related projects.

Gain exposure through co-branded marketing campaigns and joint initiatives for top-performing partners.

Get expert guidance from a dedicated Agency Success Manager to navigate GoDaddy’s extensive product portfolio and receive personalized recommendations to the solutions best suited for them.

Connecting Real Agencies to Real Leads

While others offer basic partner programs, GoDaddy Agency provides agencies with real, qualified small and mid-sized business customer referrals, many of whom have already expressed interest through GoDaddy’s Web Design Services team. This sets GoDaddy Agency apart from other programs. GoDaddy customers represent a variety of businesses spanning across products and services, meaning agencies can engage with different potential customers throughout the year as their business needs and goals shift.

Tailored Support for Today’s Agencies

In a Promethean Research study conducted last year on how digital agencies grow, 68% of agencies said they are focused on growing their business by expanding service offerings, and 67% cited referrals for new clients as a key growth indicator. GoDaddy Agency directly supports both goals with a growing portfolio of tools that help agency partners deepen value for existing clients and win new ones.

To apply to be a part of GoDaddy Agency, agencies can visit here.

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company’s AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

Source: GoDaddy Inc.

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SOURCE GoDaddy Inc.

Posted on April 23, 2025 10:10 am
Julio Manso set to join Associated Bank as Chief Human Resources Officer

PR Newswire

GREEN BAY, Wis.
, April 23, 2025 /PRNewswire/ — Associated Banc-Corp (NYSE: ASB) (“Associated”) today announced that Julio Manso will succeed Angie DeWitt as its chief human resources officer effective June 2, 2025. Associated announced DeWitt’s plans to retire as CHRO earlier today, and she will remain with Associated for a period of time after her retirement as CHRO to assure a successful transition to Manso.

Manso, 57, joins Associated from KeyBank, N.A., where he has served as executive vice president, human resources since November 2020. Prior to that, he served in various human resources senior leadership roles at JPMorgan Chase & Company from April 2016 to October 2020.

In his role, Manso will report directly to Associated Bank President and CEO Andy Harmening and will be responsible for all human resources functions, including succession planning, talent management, change management, recruitment, culture development, organizational and performance management, training and development, internal communications, and total rewards. He will be based in Milwaukee.

“Julio’s vision, strategic acumen and commitment to empowering teams makes him an ideal choice for this critical role,” said Harmening. “His deep expertise and forward-thinking leadership in people strategy is a perfect match for our culture that supports growth, belonging and innovation across every level of our organization.”

Manso holds a Master of Science in Industrial-Organizational Psychology from Kansas State University; an MBA from the University of Pittsburgh; and a Bachelor of Arts in Economics from the University of Western Ontario. Active in the community, he has served on the board and president’s council of Big Brothers Big Sisters of South Texas.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $43 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota and Missouri. The company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Media Contact

Andrea Kozek

VP/Senior Manager, Associated Bank
920/491-7518
[email protected]

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SOURCE Associated Banc-Corp

Posted on April 23, 2025 10:09 am
FranklinCovey Partners With Bestselling Authors, James Patterson And Dr. Patrick Leddin, To Equip Leaders To Navigate Disruption, Based On Their Highly Anticipated Book, Disrupt Everything

FranklinCovey Partners With Bestselling Authors, James Patterson And Dr. Patrick Leddin, To Equip Leaders To Navigate Disruption, Based On Their Highly Anticipated Book, Disrupt Everything

New Solution Will Launch In The Fall Of 2025, With Keynotes Available Now To Guide Organizations Through The Disruption They Are Experiencing Today

SALT LAKE CITY–(BUSINESS WIRE)–FranklinCovey (NYSE: FC), one of the largest and most trusted leadership companies in the world, today announced it is partnering with bestselling authors James Patterson and Dr. Patrick Leddin, PhD to equip leaders to navigate disruption, based on their highly anticipated book, Disrupt Everything: Every Leader, Team Member, and Family Needs to Disrupt. Grow. Change. Triumph.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250422902017/en/

Upcoming Book, “Disrupt Everything,” launches September 29, 2025, with FranklinCovey’s course launching Fall of 2025. Leddin is available now for keynotes.

Together, they will develop a course that will launch in the Fall of 2025, with keynotes from Leddin available now to guide organizations through the disruptions they are experiencing today. The keynotes help leaders and teams discover their role in navigating change, make informed choices to leverage disruption, adopt behaviors of successful disruptors, and drive growth and reveal opportunities. They will hear real-world examples of organizations and individuals to inspire them to turn disruption into a force for good, and they will learn the practical tools they need to embrace disruption, foster innovation, and achieve extraordinary results.

To book a Disrupt Everything keynote with Dr. Patrick Leddin, please visit here.

Patterson, the world’s bestselling author, is making his first business book debut with Leddin, a Wall Street Journal bestselling author. In Disrupt Everything, the authors tackle one of today’s most pressing challenges: Disruption. Imagine a workplace where every leader and team member doesn’t just endure disruption—but thrives because of it. Disrupt Everythinglays the foundation for creating teams of disruptors and, ultimately, organizations of disruptors who are resilient, innovative, and equipped to navigate the toughest challenges.

Paul Walker, FranklinCovey CEO, said, “We could not be more delighted to partner with James Patterson and Dr. Patrick Leddin to create the new solution. It will further strengthen our FranklinCovey All Access Pass^®, which already includes solutions for navigating uncertainty. In an unprecedented age of disruption, both the course and keynotes will equip leaders and teams with vital skills they need to confidently step up and embrace disruption using it to their advantage.”

James Patterson is the most popular storyteller of our time. He has written more than 200 novels since 1976, has had more than 114 New York Times bestselling novels, and holds The New York Times record for most #1 New York Times bestsellers by a single author—67—which is also a Guinness World Record. His books have sold more than 425 million copies worldwide.

Patterson said, “I am thrilled to partner with FranklinCovey to develop a course with them on such a timely topic. Disruption isn’t on the horizon, it’s already here, from AI to economic uncertainty, to the way COVID reshaped our world. Disruption is not the enemy. It presents a great opportunity for extraordinary success, one that everyone should be taking advantage of right now.”

Leddin is the author of The 5-Week Leadership Challenge and is a FranklinCovey Senior Advisor on Culture and Leadership. He is also the host of the popular, weekly FranklinCovey podcast, C-Suite Conversations with Dr. Patrick Leddin. He was an Associate Professor and Associate Director of the Practice of Business Studies at Vanderbilt University where he taught Corporate Strategy and Crisis Leadership. He led The Disruption Project at the university, where he studied how people ranging from household names to unsung heroes succeed in the face of disruption, having conducted over 350 interviews with positive disruptors from around the world. Leddin uses his research from the project as real-world, relatable stories and case studies to move readers and audiences to disrupt.

“I’m honored to be delivering keynotes on disruption to organizations who need immediate guidance and direction on how to use it to actually thrive, and to be partnering in creating the new course with the FranklinCovey team,” said Leddin. “Disruption is everywhere. We’ve never seen anything like it in our lifetimes. Positive disruption will be the most powerful force for success we will ever encounter. Advancement—for individuals, teams, and organizations—requires the ability to discern, take intentional action, and collaborate effectively, whether you’re facing disruption or driving it.”

The course will equip people at every level of the organization to recognize their role, take bold action, and become a positive force for disruption and progress. It will:

Activate the Positive Disruptor Within

Explore four fundamental truths about disruption.

Define the fire that drives them—and their team.

Select the most effective role in response to any disruption.

Ignite Team Strengths for Impact

Identify and leverage individual and team strengths through 16 key behaviors.

Contribute their unique value while trusting others to do the same.

Collaborate to spark innovation and generate fresh solutions.

Expand Impact for Greater Success

Chart a personal path toward positive disruption, while ensuring alignment with the team and organization.

Learn from both success and failure to shape future action.

Plan how to apply course lessons to a real-world disruption.

Course participants will learn how to lead themselves and others confidently, respond effectively to unexpected change, and transform disruption into an engine for growth and long-term success.

About FranklinCovey

FranklinCovey (NYSE: FC) is one of the largest and most trusted leadership companies in the world, with directly owned and licensee partner offices providing professional services in over 160 countries and territories. The Company transforms organizations by partnering with clients to build leaders, teams, and cultures that get breakthrough results through collective action, which leads to a more engaging work experience for their people. Available through the FranklinCovey All Access Pass, FranklinCovey’s best-in-class content, solutions, experts, technology, and metrics seamlessly integrate to ensure lasting behavior change at scale. Solutions are available in multiple delivery modalities in more than 20 languages.

This approach to leadership and organizational change has been tested and refined by working with tens of thousands of teams and organizations over the past 30 years. Clients have included organizations in the Fortune 100, Fortune 500 and thousands of small and mid-sized businesses, numerous government entities, and educational institutions. To learn more, visit www.franklincovey.com and enjoy exclusive content across FranklinCovey’s social media channels at: LinkedIn, Facebook, Twitter, Instagram, and YouTube.

About James Patterson

James Patterson, the world’s bestselling author, is the most popular storyteller of our time. He has written more than 200 novels since 1976, has had more than 114 New York Times bestselling novels, and holds The New York Times record for most #1 New York Times bestsellers by a single author—67—which is also a Guinness World Record. His books have sold more than 425 million copies worldwide. He is the creator of unforgettable characters and series, including Alex Cross, the Women’s Murder Club, Jane Smith, and Maximum Ride, and of breathtaking true stories about the Kennedys, John Lennon, and Tiger Woods, as well as our military heroes, police officers, and ER nurses. Patterson has coauthored #1 bestselling novels withBill Clinton, Dolly Parton, Michael Crichton, and now adds Dr. Patrick Leddin as his latest co-author on Disrupt Everything: Every Leader, Team Member, and Family Needs to Disrupt. Grow. Change. Triumph. He has told the story of his own life in James Patterson by James Patterson and receivedan Edgar Award, ten Emmy Awards, the Literarian Award from the National Book Foundation, and the National Humanities Medal.

About Dr. Patrick Leddin

Dr. Patrick Leddin, PhD is the Wall Street Journal bestselling author of The 5-Week Leadership Challenge, and is a FranklinCovey Senior Advisor on Culture and Leadership. He is also the host of the popular, weekly FranklinCovey podcast, C-Suite Conversations with Dr. Patrick Leddin. He was an Associate Professor and Associate Director of the Practice of Business Studies at Vanderbilt University where he taught Corporate Strategy, Negotiation, Advanced Marketing, and Crisis Leadership. He led The Disruption Project at the university, where he studied how people ranging from household names to unsung heroes succeed in the face of disruption, having conducted over 350 interviews with positive disruptors from around the world. As the co-author with James Patterson in the new book, Disrupt Everything: Every Leader, Team Member, and Family Needs to Disrupt. Grow. Change. Triumph., Leddin uses his research from the project as real world, relatable stories, and case studies to move its readers to disrupt.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250422902017/en/

Press Contact: FranklinCovey Co., Debra Lund, 801-244-4474, [email protected]

KEYWORDS: United States North America Utah

INDUSTRY KEYWORDS: Thought Leadership Other Professional Services Other Communications Publishing Continuing Human Resources Finance Books Consulting Education Communications General Entertainment Business Professional Services Entertainment

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Upcoming Book, “Disrupt Everything,” launches September 29, 2025, with FranklinCovey’s course launching Fall of 2025. Leddin is available now for keynotes.

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Posted on April 23, 2025 10:09 am
One in Three Americans Caught Flat-Footed on Financial Preparedness, TD Bank Report Reveals

One in Three Americans Caught Flat-Footed on Financial Preparedness, TD Bank Report Reveals

Report Finds Medical Emergencies and Retirement Preparedness Are Top-of-Mind

CHERRY HILL, N.J.–(BUSINESS WIRE)–
As today’s world is faced with ongoing challenges and unexpected obstacles, including those in the financial industry, how financially prepared are consumers?

Forty-four percent of Americans report they think about their financial preparedness every single day, yet 36% of Americans say they are not confident they have enough savings to cover unexpected bills. These significant findings are broken down in TD Bank’s inaugural Financial Preparedness Report, Consumer Index where more than 5,000 U.S. adults were surveyed to examine their financial challenges, saving habits, and the actions they are taking to improve their financial health.

“With ongoing economic concerns top-of-mind for consumers, preparation is key to better ensure that you’re well-positioned in any climate,” said Allison Robinson, Head of Retail Distribution at TD Bank. “We aim to provide our customers with the guidance they need to help them achieve their financial goals, and the TD Consumer Index highlights some of the most pressing topics concerning consumers today.”

The Consumer Index covers a range of consumer behaviors including three standout categories: healthcare, retirement, and homeownership. In the coming weeks, the Financial Preparedness Report will release its Small Business Index.

Is Health and Wellness “Weighing” You Down Financially?

Americans see illness or an unwelcome visit to the Emergency Room as the most critical time to be financially prepared, with seven in ten (70%) ranking it among their top three priorities for financial readiness. A majority (72%) of Americans have been impacted by unexpected bills, with 59% of these respondents having gone into debt as a result. Additionally, 33% had to reallocate part of their savings to cover costs. Despite acknowledging the significance of healthcare expenses, only half said they are prepared to cover those costs.

Are You Ready for Life’s Next Chapter? Better Plan Accordingly

Saving for retirement is important for an overwhelming majority of consumers (88% of respondents), yet almost half don’t feel ready for it (47%). That unease likely stems from respondents not setting aside monthly income for retirement (31%) or not using retirement accounts like a 401K or Roth IRA (56%), and shockingly, 15% do not have retirement savings at all.

Is Homeownership Holding Up the “American Dream?”

Homeownership is a solid foundation for building wealth and diversifying financial preparedness. Ninety percent of Americans believe owning a home is part of the American Dream, but is that dream out of reach? One-third of respondents who do not currently own a home have a negative outlook on their ability to purchase. Across all respondents, the top factors influencing homebuying decisions are affordability (55%), the cost of borrowing (32%), and concerns about economic uncertainty or job stability (29%).

What Can Financial Guidance Do for You?

Eighty-one percent of Americans have taken steps to improve overall financial health, with the majority of respondents (55%) already reducing spending or creating a budget. Most (78%) indicated they use at least one resource to keep up with their budget, with banking and budgeting apps topping the list. Additionally, 41% of respondents either use or would consider using a financial planner or advisor to help with their financial preparedness. Those who currently work with an advisor are much more likely to feel prepared for unexpected car (72%) or home (69%) maintenance costs, as well as unforeseen medical expenses (66%).

“Everyone has a unique financial journey so starting with a personalized plan that covers your immediate needs and future goals is recommended,” said Andrew Stuart, Head of U.S. Consumer Products, Auto Finance and Wealth at TD Bank. “It’s important for consumers to understand their current financial position, as well as their short and long-term goals, and what products and services can help them to be better prepared financially for whatever lies ahead.”

Survey Methodology

This CARAVAN survey was conducted by Big Village among a sample of 5,013 U.S. adults ages 18 and older. This survey was live on February 19 – March 3, 2025. Market-specific interviews were conducted in Boston (N=502), New York City (N=501), Philadelphia (N=502), Charlotte (N=502), and Miami/South Florida (N=502), with the remaining N=2,504 interviews completed among adults across the rest of the United States.

About Big Village Insights

Big Village Insights is a global research and analytics business uncovering not just the ‘what’ but the ‘why’ behind customer behavior, supporting clients’ insights needs with agile tools, CX research, branding, product innovation, data & analytics, and more. Big Village Insights is part of Bright Mountain Media. Find out more at https://big-village.com.

About TD Bank, America’s Most Convenient Bank^®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth^®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.

TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com/us.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250423622205/en/

Media Contact

PJ Brovak

Sr. Corporate Communications Manager, TD Bank

[email protected]

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: Finance Banking Professional Services Asset Management Fintech

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