Market Newsdesk

April 22, 2025 6:06 am

BEN Launches “iSKYE” AI Platform

WILMINGTON, Del., April 22, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (BEN) (Nasdaq: BNAI), a global innovator in AI-driven customer engagement solutions, announces the Generally Available (GA) release of its iSKYE platform to enable businesses to quickly deploy and scale customized AI solutions with enterprise grade security, flexibility and control.

Why

iSKYE

? Transforming AI Integration and Scalability for Businesses

iSKYE is a new approach to AI Agent development by combining industry-specific training, robust full-stack platform, and scalable deployment. It enables businesses to regain control of their AI projects, build secure, relevant engagement solutions, and accelerate time to value. Whether it’s sharing healthcare information or receiving relevant offers from favorite brands, BEN’s new iSKYE platform individualizes each engagement vs. LLMs delivering generic responses.

“Businesses are quickly learning that sole reliance on large language models (LLMs) is not sufficient to ensure appropriate engagement with the users,” said Paul Chang, CEO of Brand Engagement Network. “LLMs are important components of GenAI but they are prone to hallucinations and inappropriate responses. iSKYE is the result of BEN’s multi-year effort to evolve a set of orchestrated AI modules from its original SKYE AI Agents⁽¹⁾ into a robust turnkey GenAI platform. iSKYE provides businesses with the ability for its users to have personalized and natural dialogue with the AI Agents while injecting process control and management to the interactions.”

Key platform features include:

Proprietary, Industry-Specific Design –
iSKYE leverages several AI modules, industry-specific datasets to fine-tune its model, optimized Retrieval-Augmented Generation (RAG) architecture, and most importantly, to mitigate hallucinations. This novel architecture facilitates injection of business rules in the response generation process to ensure proper procedures, protocols, and adherence to business processes.
Small Footprint for Cost-Effective Deployment –
iSKYE’s small footprint architecture allows for more efficient deployment with lower infrastructure and operational costs. It can run on CPUs, reducing energy consumption while maintaining performance and scalability, making AI more accessible without compromising user experience.
Scalable, Adaptable Architecture for Seamless Integration –
iSKYE integrates with existing workflows and legacy enterprise systems, supporting high-precision, industry-specific applications across sectors like healthcare, finance, and automotive. Its scalable design allows AI solutions to evolve alongside business needs, automating routine tasks to support teams and improve operational efficiency.
Fully Customizable AI Agent – With iSKYE’s built-in graphics studio, businesses can design lifelike 3D AI avatars tailored to their exact needs. From appearance, to gestures, to speech tone, every agent feature is configurable to align with brand goals and deliver a personalized customer experience.
Enterprise-Grade Security and Compliance –
iSKYE’s closed-loop system ensures HIPAA and SOC2 compliance on U.S.-based cloud servers. The platform supports on-premise deployment and even offline usage, providing businesses assurance on data security and regulatory compliance.

Looking ahead, BEN plans to expand the iSKYE platform with additional industry-specific solutions, white-label offerings, OEM partnerships, and plug-in modules to further enhance its flexibility and functionality. We believe these innovations will help businesses unlock ever greater potential and drive more impactful AI-driven engagement across various sectors.

⁽¹⁾
SKYE
AI Agents
were developed by
Deep Machine Lab (DMLAB)
, which
was acquired by BEN in 2023.

About Brand Engagement Network (BEN)

Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement by delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based and on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

Forward-Looking Statements

Certain statements in this communication are “forward-looking statements” within the meaning of federal securities laws. They are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect, among other things, BEN’s current expectations, assumptions, plans, strategies, and anticipated results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.

There are a number of risks, uncertainties and conditions that may cause BEN’s actual results to differ materially from those expressed or implied by these forward-looking statements, including but not limited to the risk factors described in Part I, Item 1A of Risk Factors in BEN’s Annual Report on Form 10-K for the year ended December 31, 2023 and the other risk factors identified from time to time in the BEN’s other filings with the Securities and Exchange Commission (the “SEC”). Filings with the SEC are available on the SEC’s website at http://www.sec.gov.

Many of these circumstances are beyond BEN’s ability to control or predict. These forward-looking statements necessarily involve assumptions on BEN’s part. These forward-looking statements may include words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “project,” “should,” “may,” “will,” “might,” “could,” “would,” or similar expressions. All forward-looking statements attributable to the Company or persons acting on BEN’s behalf are expressly qualified in their entirety by the cautionary statements that appear throughout this communication. Furthermore, undue reliance should not be placed on forward-looking statements, which are based on the information currently available to the Company and speak only as of the date they are made. BEN disclaims any intention or obligation to update or revise publicly any forward-looking statements.

Media Contact
Amy Rouyer
P: 503-367-7596
E: [email protected]

Investor Relations

Susan Xu
P: 778-323-0959
E: [email protected]

April 22, 2025 6:06 am

Danaher Reports First Quarter 2025 Results

PR Newswire

WASHINGTON
, April 22, 2025 /PRNewswire/ — Danaher Corporation (NYSE: DHR) (the “Company”) today announced results for the quarter ended March 28, 2025.

Key First Quarter 2025 Results

Net earnings were $1.0 billion, or $1.32 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.88.
Revenues decreased 1.0% to $5.7 billion and non-GAAP core revenue was flat year-over-year.
Operating cash flow was $1.3 billion and non-GAAP free cash flow was $1.1 billion.

Rainer M. Blair, President and Chief Executive Officer, stated, “Revenue, earnings, and cash flow exceeded our expectations in the first quarter–highlighted by continued momentum in bioprocessing and better-than-expected respiratory demand in our molecular diagnostics business. Our team also continued to execute very well, leveraging the Danaher Business System to accelerate innovation, drive share gains, and deliver meaningful productivity improvements.”

Blair continued, “While the macro backdrop has become more dynamic since the start of the year, it’s in times like these that Danaher’s positioning and capabilities truly stand out. We believe that the combination of our team’s DBS-driven execution, resilient portfolio and strong balance sheet will continue to differentiate Danaher in 2025 and beyond.”

Second Quarter and Full Year 2025 Outlook

The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines. In addition, we do not reconcile forecasted adjusted diluted net earnings per common share (or components thereof) to the comparable GAAP measure because of the difficulty in estimating the other components (in addition to the items identified in the prior sentence) that would be reflected in any forecasted GAAP diluted net earnings per common share, such as investment gains and losses and discrete tax items.

For the second quarter 2025, the Company anticipates that non-GAAP core revenue will grow low-single digits year-over-year. For full year 2025, there is no change to the Company’s expectation that non-GAAP core revenue will grow approximately 3% year-over-year. The Company is also initiating full year adjusted diluted net earnings per common share guidance in the range of $7.60 to $7.75.

Conference Call and Webcast Information

Danaher will discuss its first quarter results and financial guidance for the second quarter and full year 2025 during its investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the “Investors” section of Danaher’s website, www.danaher.com, under the subheading “Events & Presentations.” A replay of the webcast will be available in the same section of Danaher’s website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.

The conference call can be accessed by dialing 800-245-3047 within the U.S. or by dialing +1 203-518-9765 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher’s earnings conference call (Conference ID: DHRQ125). A replay of the conference call will be available shortly after the conclusion of the call and until May 6, 2025. You can access the replay dial-in information on the “Investors” section of Danaher’s website under the subheading “Events & Presentations.”

ABOUT DANAHER

Danaher is a leading global life sciences and diagnostics innovator, committed to accelerating the power of science and technology to improve human health. Our businesses partner closely with customers to solve many of the most important health challenges impacting patients around the world. Danaher’s advanced science and technology – and proven ability to innovate – help enable faster, more accurate diagnoses and help reduce the time and cost needed to sustainably discover, develop and deliver life-changing therapies. Focused on scientific excellence, innovation and continuous improvement, our approximately 63,000 associates worldwide help ensure that Danaher is improving quality of life for billions of people today, while setting the foundation for a healthier, more sustainable tomorrow. Explore more at www.danaher.com.

NON-GAAP MEASURES AND SUPPLEMENTAL MATERIALS

In addition to the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. Calculations of these measures, explanations of what these measures represent and the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

In addition, our Quarterly Report on Form 10-Q for the first quarter of 2025, this earnings release, the slide presentation accompanying the related earnings call, non-GAAP reconciliations and a note containing details of historical and anticipated, future financial performance have been posted to the “Investors” section of Danaher’s website (www.danaher.com).

FORWARD-LOOKING STATEMENTS

Statements in this release that are not strictly historical, including the statements regarding the Company’s anticipated financial results for the second quarter and full year 2025, momentum in the bioprocessing business, the Company’s positioning for the future and anticipated differentiation and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are “forward-looking” statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things: the impact of tariffs and related actions recently implemented by the U.S. and other countries, the impact of our debt obligations on our operations and liquidity, deterioration of or instability in the global economy, the markets we serve and the financial markets, uncertainties with respect to the development, deployment, and use of artificial intelligence in our business and products, the impact of global health crises, uncertainties relating to national laws or policies, including laws or policies to protect or promote domestic interests and/or address foreign competition, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including rules relating to off-label marketing and other regulations relating to medical devices and the healthcare industry), the results of our clinical trials and perceptions thereof, our ability to effectively address cost reductions and other changes in the healthcare industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments, our ability to integrate the businesses we acquire and achieve the anticipated growth, synergies and other benefits of such acquisitions, contingent liabilities and other risks relating to acquisitions, investments, strategic relationships and divestitures (including tax-related and other contingent liabilities relating to past and future IPOs, split-offs or spin-offs), security breaches or other disruptions of our information technology systems or violations of data privacy laws, the impact of our restructuring activities on our ability to grow, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, changes in tax laws applicable to multinational companies, litigation, regulatory proceedings and other contingent liabilities including intellectual property and environmental, health and safety matters, the rights of the United States government with respect to our production capacity in times of national emergency or with respect to intellectual property/production capacity developed using government funding, risks relating to product, service or software defects, product liability and recalls, risks relating to our manufacturing operations, the impact of climate change, legal or regulatory measures to address climate change and other sustainability topics and our ability to address regulatory requirements or stakeholder expectations relating to climate change and other sustainability topics, risks relating to fluctuations in the cost and availability of the supplies we use (including commodities) and labor we need for our operations, our relationships with and the performance of our channel partners, uncertainties relating to collaboration arrangements with third-parties, the impact of deregulation on demand for our products and services, labor matters and our ability to recruit, retain and motivate talented employees, U.S. and non-U.S. economic, political, geopolitical, legal, compliance, social and business factors (including the impact of elections, regulatory changes or uncertainty and military conflicts), disruptions and other impacts relating to man-made and natural disasters, inflation and the impact of our By-law exclusive forum provisions. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2024 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2025. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

DANAHER CORPORATION AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS ($ and shares in millions, except per share amounts) (unaudited)

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Sales	$ 5,741	$ 5,796
Cost of sales	(2,230)	(2,309)
Gross profit	3,511	3,487
Operating costs:
Selling, general and administrative expenses	(1,858)	(1,807)
Research and development expenses	(379)	(368)
Operating profit	1,274	1,312
Nonoperating income (expense):
Other income (expense), net	(79)	(36)
Interest expense	(72)	(65)
Interest income	6	60
Earnings before income taxes	1,129	1,271
Income taxes	(175)	(183)
Net earnings	$ 954	$ 1,088
Net earnings per common share:
Basic	$ 1.33	$ 1.47
Diluted	$ 1.32	$ 1.45
Average common stock and common equivalent shares outstanding:
Basic	716.3	740.6
Diluted	720.8	748.6

This information is presented for reference only. A complete copy of Danaher’s Form 10-Q financial statements is available on the Company’s website (www.danaher.com).

DANAHER CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

Diluted Net Earnings Per Common Share and Adjusted Diluted Net Earnings Per Common Share

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Diluted Net Earnings Per Common Share (GAAP)	$ 1.32	$ 1.45
Amortization of acquisition-related intangible assets^A	0.57	0.54
Fair value net (gains) losses on investments^B	0.12	0.05
Impairments^C	0.02	—
Gain on a product line disposition^D	(0.01)	—
Acquisition-related items^E	—	0.03
Tax effect of the above adjustments^F	(0.13)	(0.11)
Discrete tax adjustments^G	(0.01)	(0.05)
Rounding	—	0.01
Adjusted Diluted Net Earnings Per Common Share (Non-GAAP)	$ 1.88	$ 1.92

	Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
^A	Amortization of acquisition-related intangible assets in the following historical periods ($ in millions) (only the pretax amounts set forth below are reflected in the amortization line item above):

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Pretax	$ 410	$ 407
After-tax	340	336

^B	Net (gains) losses on the Company’s equity and limited partnership investments recorded in the following historical periods ($ in millions) (only the pretax amounts set forth below are reflected in the fair value net (gains) losses on investments line above):

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Pretax	$ 90	$ 37
After-tax	68	28

^C	Impairment charges related to a facility in the Biotechnology segment recorded in the three-month period ended March 28, 2025 ($15 million pretax as reported in this line item, $11 million after-tax).

^D	Gain on a product line disposition in the three-month period ended March 28, 2025 ($9 million pretax as reported in this line item, $7 million after-tax).

^E	Costs incurred for the fair value adjustment to inventory related to the acquisition of Abcam plc for the three-month period ended March 29, 2024 ($25 million pretax as reported in this line item, $19 million after-tax).

^F	This line item reflects the aggregate tax effect of all nontax adjustments reflected in the preceding line items of the table. In addition, the footnotes above indicate the after-tax amount of each individual adjustment item. Danaher estimates the tax effect of each adjustment item by applying Danaher’s overall estimated effective tax rate to the pretax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.

^G	Discrete tax adjustments and other tax-related adjustments for the three-month period ended March 28, 2025, include the impact of net discrete tax benefits of $10 million related primarily to changes in estimates of prior year tax filing positions, release of reserves for uncertain tax positions due to the expiration of statutes of limitation and excess tax benefits from stock-based compensation, net of charges related to changes in estimates associated with prior period uncertain tax positions. Discrete tax adjustments and other tax-related adjustments for the three-month period ended March 29, 2024, include the impact of net discrete tax benefits of $36 million due principally to excess tax benefits from stock-based compensation, release of reserves for uncertain tax positions due to the expiration of statutes of limitation and changes in estimates associated with prior period uncertain tax positions.

Sales (Decline) Growth by Segment and Core Sales Growth (Decline) by Segment

	% Change Three-Month Period Ended March 28, 2025 vs. Comparable 2024 Period
		Segments
	Total Company	Biotechnology	Life Sciences	Diagnostics
Total sales (decline) growth (GAAP)	(1.0) %	6.0 %	(3.5) %	(3.0) %
Impact of:
Acquisitions/divestitures	(0.5) %	— %	(2.0) %	0.5 %
Currency exchange rates	1.5 %	1.0 %	1.5 %	1.0 %
Core sales growth (decline) (non-GAAP)	— %	7.0 %	(4.0) %	(1.5) %

Forecasted Core Sales Growth and Adjusted Diluted Net Earnings Per Common Share

	% Change Three- Month Period Ending June 27, 2025 vs. Comparable 2024 Period	% Change Year Ending December 1, 2025 vs. Comparable 2024 Period
Core sales growth (non-GAAP)	+Low-single digit	~3.0%

Year Ending

December 31, 2025

Adjusted diluted net earnings per common share (non-GAAP)

$7.60 – $7.75

Cash Flow and Free Cash Flow ($ in millions)

	Three-Month Period Ended
	March 28, 2025	March 29, 2024
Total Cash Flow:
Net cash provided by operating activities (GAAP)	$ 1,299	$ 1,739
Total cash used in investing activities (GAAP)	$ (242)	$ (321)
Total cash used in financing activities (GAAP)	$ (1,255)	$ (133)

Free Cash Flow:
Net cash provided by operating activities (GAAP)	$ 1,299	$ 1,739
Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP)	(245)	(291)
Plus: proceeds from sales of property, plant & equipment (capital disposals) (GAAP)	6	—
Free cash flow (non-GAAP)	$ 1,060	$ 1,448

We define free cash flow as operating cash flows, less payments for additions to property, plant and equipment (“capital expenditures”) plus the proceeds from sales of plant, property and equipment (“capital disposals”).

Statement Regarding Non-GAAP Measures

Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Danaher Corporation’s (“Danaher” or the “Company”) results that, when reconciled to the corresponding GAAP measure, help our investors:

with respect to Adjusted Diluted Net Earnings Per Common Share, understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers;
with respect to core sales, identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers; and
with respect to free cash flow (the “FCF Measure”), understand Danaher’s ability to generate cash without external financings, strengthen its balance sheet, invest in its business and grow its business through acquisitions and other strategic opportunities (although a limitation of free cash flow is that it does not take into account the Company’s debt service requirements and other non-discretionary expenditures, and as a result the entire free cash flow amount is not necessarily available for discretionary expenditures).

Management uses the non-GAAP measures referenced above to measure the Company’s operating and financial performance, and uses core sales and non-GAAP measures similar to Adjusted Diluted Net Earnings Per Common Share and the FCF Measure in the Company’s executive compensation program.

The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:

With respect to Adjusted Diluted Net Earnings Per Common Share:
- Amortization of Intangible Assets: We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity we do not acquire businesses on a predictable cycle, and the amount of an acquisition’s purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe however that it is important for investors to understand that such intangible assets contribute to sales generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized.
- Restructuring Charges: We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Danaher Business System. Because these restructuring plans are incremental to the core activities that arise in the ordinary course of our business and we believe are not indicative of Danaher’s ongoing operating costs in a given period, we exclude these costs to facilitate a more consistent comparison of operating results over time.
- Other Adjustments: With respect to the other items excluded from Adjusted Diluted Net Earnings Per Common Share, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Danaher’s commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to core sales, (1) we exclude the impact of currency translation because it is not under management’s control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to the FCF Measure, we deduct payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to demonstrate the amount of operating cash flow for the period that remains after accounting for the Company’s capital expenditure requirements.

The Company provides forecasted sales only on a non-GAAP core revenue basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines. The Company does not reconcile forecasted adjusted diluted net earnings per common share (or components thereof) to the comparable GAAP measure because of the difficulty in estimating the other components (in addition to items identified in the prior sentence) that would be reflected in any forecasted GAAP diluted net earnings per common share, such as investment gains and losses and discrete tax items.

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SOURCE Danaher Corporation

April 22, 2025 6:06 am

High Tide Announces Change of Auditors

PR Newswire

CALGARY, AB
, April 22, 2025 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announces that it has changed its auditor from Ernst & Young LLP, Chartered Professional Accountants (the “Predecessor Auditor“) to Davidson & Company LLP, Chartered Professional Accountants (the “Successor Auditor“) effective April 17, 2025. The Predecessor Auditor resigned effective April 17, 2025, at the Company’s request, and the Company’s board of directors, upon the audit committee’s recommendation, appointed the Successor Auditor to fill the resulting vacancy until the close of the next annual meeting of the Company’s shareholders.

The change of auditor notice required pursuant to National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102“) and associated material have been filed on SEDAR+ (www.sedarplus.ca) under the Company’s profile within the prescribed time period. There were no reservations or modified opinions in any auditor’s reports nor any reportable events as defined in NI 51-102 in connection with the audits by the Predecessor Auditor of the Company’s most recently completed financial year or any subsequent period.

ABOUT HIGH TIDE

High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world’s most powerful plant and is the second-largest cannabis retailer globally by store count¹. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:

Bricks & Mortar Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 196 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in the world.

Retail Innovation: Fastendr™ is a unique and fully automated technology that employs retail kiosks to facilitate a better buying experience through browsing, ordering and pickup.

Consumption Accessories: High Tide operates a suite of leading accessory e-commerce platforms across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.

Brands: High Tide’s industry-leading and consumer-facing brand roster includes Queen of Bud™, Cabana Cannabis Co™, Daily High Club™, Vodka Glass™, Puff Puff Pass™, Dopezilla™, Atomik™, Hue™, Evolution™ and more.

CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.

Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.

Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.

High Tide consistently moves ahead of the currents, having been named one of Canada’s Top Growing Companies by the Globe and Mail’s Report on Business in 2024 for the fourth consecutive year and was recognized as a top 50 company by the TSX Venture Exchange in 2022, 2024 and 2025. High Tide was also ranked number one in the retail category on the Financial Times list of Americas’ Fastest Growing Companies for 2023. To discover the full impact of High Tide, visit www.hightideinc.com. For investment performance, don’t miss the High Tide profile pages on SEDAR+ and EDGAR.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

____________________________
¹ As reported by ATB Capital Markets based on store counts as of February 6, 2025

CONTACT INFORMATION

Media Inquiries

Carter Brownlee

Communications and Public Affairs Advisor

High Tide Inc.

[email protected]

403-770-3080

Investor Inquiries

Vahan Ajamian

Capital Markets Advisor

High Tide Inc.

[email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking information” and “forward-looking statements within the meaning of applicable securities legislation. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: the approval of the shareholders at the annual meeting. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including but not limited to the risk factors discussed under the heading “Non-Exhaustive List of Risk Factors” in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE High Tide Inc.

April 22, 2025 6:06 am

America’s Top Eco-Friendly Cities for Car-Free Transit

PR Newswire

New ranking from Local Logic and Realtor.com^® reveals the best cities for walking, biking, and commuting without a car; the Northeast and California’s Bay Area lead the way with Hoboken, N.J.; Cambridge, Mass.; and Berkeley, Calif., at the top

AUSTIN, Texas
, April 22, 2025 /PRNewswire/ — How we navigate our cities plays a big role in sustainability — but not every place makes it easy to go car-free. Today, Realtor.com^® and location intelligence company Local Logic unveiled a new ranking of America’s Top Eco-Friendly Cities for Car-Free Transit, highlighting the places where walking, biking, and public transit are not only viable, but widely used. Leading the list are Hoboken, N.J., Cambridge, Mass., and Brookline, Mass., with the most top-ranked cities found in the Northeast and California’s Bay Area.

The full list in rank order includes: Hoboken, NJ; Cambridge, Mass.; Brookline, Mass.; Berkeley, Calif.; Washington, D.C.; San Francisco; Somerville, Mass.; Boston; Seattle; Arlington, Va.; Emeryville, Calif.; Chicago; Minneapolis; and Culver City, Calif.

“Where we live shapes how we live — and in the case of these top eco-friendly cities, we see that an environment oriented to walking, biking and public transit means a greater share of residents can get to work without a car,” said Danielle Hale, chief economist at Realtor.com^®. “Those who want to live more sustainably by forgoing a commute by car, will find that places like Hoboken, N.J., and Cambridge, Mass., make it easier to do so because they prioritize walkability, transit and thoughtful design. Thriving home values in these markets likely reflect easy access to jobs, culture and a high quality of life.”

To create the ranking, Local Logic analyzed U.S. Census data on car-free commuters, combining it with their proprietary Location Scores for walkability, bikeability, and public transit access. These scores, derived from billions of data points related to local infrastructure and amenities, offer a detailed snapshot of how a neighborhood functions and feels. Realtor.com^® is the only major portal to integrate Local Logic’s 18 location scores on every for-sale and rental listing on the site, giving consumers deeper insights into the community beyond just property details as they shop for their next home.

“How we move through our cities is deeply tied to sustainability, but it also reflects the everyday choices people make about how they want to live,” said Vincent-Charles Hodder, CEO and co-founder of Local Logic. “By combining billions of data points on infrastructure and amenities, our Location Scores uncover the trends shaping cities and help people understand what it’s really like to live in a given city or neighborhood. Whether someone is prioritizing car-free commuting, access to green space, or simply finding a lifestyle that fits, our goal is to provide the insights that make those decisions easier and more informed.”

The 10 Most Eco-Friendly Transit Cities in the U.S. and What Sets Them Apart

1. Hoboken, N.J.
Topping the list is Hoboken, where nearly 80% of residents commute to work without a car. Commuters benefit from the city’s dense, walkable grid and direct access to PATH trains, ferries, and buses into Manhattan. Hoboken was one of the first U.S. cities to launch a citywide bike-share program.

2. Cambridge, Mass.

Cambridge is a long-time leader in smart city planning. The city has invested heavily in bike infrastructure — including separated bike lanes on major roads like Massachusetts Avenue — and offers easy access to multiple MBTA Red Line stations, making car-free commuting a natural choice for most residents.

3. Brookline, Mass.
Just outside Boston, Brookline is well-connected by transit and easy to navigate on foot. With multiple Green Line branches running through the town and a long-standing focus on mixed-use zoning near transit stops, Brookline makes it easy for residents to live, shop, and commute without needing a car.

4. Berkeley, Calif.

Sustainability has long been part of Berkeley’s identity — and that’s reflected in how people get around. A legacy of progressive urban policy, the city’s strong cycling culture, walkable neighborhoods, and BART access make it easy to commute without a car, while initiatives like slow streets programs, bike boulevards, and transit-priority corridors further support active, low-impact transportation.

5. Washington D.C.
The nation’s capital continues to lead on livability, with nearly two-thirds of residents commuting car-free. In addition to Metro access and bike-share options like Capital Bikeshare, D.C. is one of the few U.S. cities with a Vision Zero plan aimed at eliminating traffic fatalities through safer, more walkable streets.

6. San Francisco

Despite its famous hills, San Francisco remains one of the country’s most transit- and pedestrian-friendly cities. A long-standing transit-first policy, paired with dense, mixed-use neighborhoods and extensive Muni and BART coverage, supports car-free living. Plus, recent investments, such as car-free Market Street, show the city’s continued push to prioritize people over vehicles.

7. Somerville, Mass.

Somerville continues to invest in active transportation and people-first streets with clear results. As one of the densest cities in New England, it benefits from compact blocks, strong T access, and bike infrastructure, like the Somerville Community Path, that make getting around without a car easy.

8. Boston
With nearly 58% of locals commuting without a car, Boston shows that older cities can still lead on modern mobility. In addition to strong MBTA coverage, the city’s Go Boston 2030 plan has prioritized equitable, car-free options — from protected bike lanes on corridors like Commonwealth Avenue to redesigned intersections that improve safety for people walking and biking.

9. Seattle

Seattle’s growing transit network and active transportation efforts are making a difference — over half of residents now commute without driving. The city’s expansion of its Link light rail system and investment in projects like the Seattle Bicycle Master Plan have reshaped how people move through the city, especially in rapidly growing areas such as Capitol Hill and the University District.

10. Arlington, Va.
Just across the Potomac River from D.C., Arlington punches above its weight for sustainable commuting. Its “urban villages” strategy focuses on growth around Metro stations like Clarendon and Ballston, creating dense, walkable hubs that support nearly half of residents commuting by foot, bike or transit.

Top Eco-Friendly Transit Cities: By the Numbers

Rank	City	Median List Price	Days on Market	% of residents who don’t drive to work	Cycling- Friendliness Score	Pedestrian- Friendliness Score	Transit- Friendliness Score
1	Hoboken, NJ	$785,000	17	78.4 %	7.0	10.0	8.6
2	Cambridge, Mass.	$1,410,000	25	72.8 %	8.8	10.0	8.2
3	Brookline, Mass.	$2,550,000	20	65.3 %	7.2	9.4	7.4
4	Berkeley, Calif.	$1,295,000	18	64.4 %	7.4	8.4	7.2
5	Washington, D.C.	$600,000	43	63.5 %	7.6	8.8	8.4
6	San Francisco	$1,197,500	52	62.0 %	6.6	10.0	10.0
7	Somerville, Mass.	$1,074,500	24	61.2 %	7.8	9.4	7.4
8	Boston, Mass.	$1,099,000	39	57.9 %	7.4	9.6	8.6
9	Seattle	$750,000	32	52.7 %	6.2	7.8	7.0
10	Arlington, Va.	$774,930	23	49.7 %	6.2	7.2	6.8
11	Emeryville, Calif.	$485,000	36	49.5 %	7.4	8.2	7.8
12	Chicago	$354,900	36	44.1 %	6.6	8.4	7.0
13	Minneapolis	$335,000	37	36.6 %	7.4	6.8	7.0
14	Culver City, Calif.	$1,349,000	38	27.3 %	6.8	7.6	7.6

About Realtor.com^®Realtor.com^® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com^® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com^® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.

About Local Logic

Local Logic is a leading location intelligence company whose mission is to improve every real estate decision, from consumers seeking a neighborhood that aligns with their lifestyle to investors aiming to pinpoint the best locations for development or local governments striving to build more sustainable cities through better urban planning. Our extensive dataset of over 100 billion data points provides unparalleled insights and analytics that have influenced billions of dollars worth of real estate transactions and continuously help more than 18 million monthly users across 8,000 websites in the US and Canada make better-informed decisions. Learn more at locallogic.co.

Media contact:
Sara Wiskerchen, [email protected]

View original content:https://www.prnewswire.com/news-releases/americas-top-eco-friendly-cities-for-car-free-transit-302434019.html

SOURCE Realtor.com

April 22, 2025 6:05 am

PEOPLES BANCORP INC. ANNOUNCES FIRST QUARTER 2025 RESULTS

PR Newswire

MARIETTA, Ohio
, April 22, 2025 /PRNewswire/ — Peoples Bancorp Inc. (“Peoples”) (NASDAQ: PEBO) today announced results for the quarter ended March 31, 2025. Net income totaled $24.3 million for the first quarter of 2025, representing earnings per diluted common share of $0.68. In comparison, Peoples reported net income of $26.9 million, representing earnings per diluted common share of $0.76, for the fourth quarter of 2024 and net income of $29.6 million, representing earnings per diluted common share of $0.84, for the first quarter of 2024.

“We are pleased with our results for the first quarter of 2025. Although net interest margin decreased three basis points during the quarter, on a core basis, excluding accretion income, net interest margin expanded by three basis points,” said Tyler Wilcox, President and Chief Executive Officer. “We continue to remain committed to our focus on providing consistent results and driving shareholder value.”

Statement of Operations Summary:

Net interest income for the first quarter of 2025 decreased $1.3 million, or 1%, when compared to the linked quarter driven by lower accretion income.
- Net interest margin decreased to 4.12% for the first quarter of 2025, compared to 4.15% for the linked quarter, driven by lower accretion income.
- Accretion income, net of amortization expense, contributed 17 basis points to margin for the first quarter, down 6 basis points from the 23 basis points of accretion income, net of amortization expense, recognized in the linked quarter.
Peoples recorded a provision for credit losses of $10.2 million for the first quarter of 2025, compared to a provision for credit losses of $6.3 million for the fourth quarter of 2024.
- The provision for credit losses was primarily driven by net charge-offs, and negatively impacted earnings per diluted common share by $0.22 for the first quarter of 2025 and $0.13 for the fourth quarter of 2024.
Total non-interest income, excluding net gains and losses, increased $0.6 million, or 2%, for the first quarter of 2025 compared to the linked quarter.
- The increase was driven by an increase in insurance income due to seasonal-performance-based commissions paid in the first quarter of each year.
Total non-interest expense for the first quarter of 2025 increased $0.3 million compared to the linked quarter.
- The increase was the result of increased salaries and employee benefit costs due to anticipated annual expenses that occur in the first quarter of each year.
- The efficiency ratio for the first quarter of 2025 was 60.7%, compared to 59.6% for the linked quarter.

Balance Sheet Summary:

Period-end total loan and lease balances at March 31, 2025 increased $70.5 million, or 4% annualized, compared to at December 31, 2024.
- The increase was driven by growth in commercial real estate loans and residential real estate loans, partially offset by decreases in leases and construction loans.
Key asset quality metrics improved during the first quarter of 2025.
- Criticized loans decreased $14.4 million, or 22 basis points as a percent of total loans, compared to at December 31, 2024, driven by commercial loan upgrades and paydowns.
- Classified loans decreased $4.8 million, or 8 basis points as a percent of total loans, compared to at December 31, 2024, driven by commercial loan paydowns and upgrades.
Period-end total deposit balances at March 31, 2025 increased $144.5 million, or 2%, compared to at December 31, 2024.
- The increase in deposits was driven by growth in money market deposit accounts and governmental deposit accounts, which was driven by seasonality.
- Total loan balances were 83% and 84% of total deposit balances at March 31, 2025 and at December 31, 2024, respectively.

Net Interest Income

Net interest income was $85.3 million for the first quarter of 2025 and decreased $1.3 million when compared to the linked quarter. Net interest margin was 4.12% for the first quarter of 2025, compared to 4.15% for the linked quarter. The decrease in net interest income and margin was primarily driven by a decrease in accretion income, net of amortization, from acquisitions.

Net interest income for the first quarter of 2025 decreased $1.4 million, or 2%, compared to the first quarter of 2024. Net interest margin decreased 14 basis points when compared to the first quarter of 2024. The decrease in net interest income and net interest margin compared to the first quarter of 2024 was driven by lower accretion income.

Accretion income, net of amortization expense, from acquisitions was $3.5 million for the first quarter of 2025, $4.9 million for the linked quarter and $6.5 million for the first quarter of 2024, which added 17 basis points, 23 basis points and 32 basis points, respectively, to net interest margin. The decrease in accretion income for the first quarter of 2025 when compared to the linked quarter and the first quarter of 2024 was driven by fewer payoffs.

Provision for Credit Losses:

The provision for credit losses was $10.2 million for the first quarter of 2025, compared to $6.3 million for the linked quarter and $6.1 million for the first quarter of 2024. The provision for credit losses for the first quarter of 2025 and fourth quarter of 2024 was primarily driven by net charge-offs. The provision for credit losses for the first quarter of 2024 was driven by (i) net charge-offs, (ii) a deterioration in macro-economic conditions used within the current expected credit losses (“CECL”) model, (iii) an increase of reserves on individually analyzed loans, and (iv) loan growth.

The provision for credit losses recorded represents the amount needed to maintain the appropriate level of the allowance for credit losses based on management’s quarterly estimates. The provision for credit losses negatively impacted earnings per diluted common share by $0.22 for the first quarter of 2025, $0.13 for the fourth quarter of 2024, and $0.14 for the first quarter of 2024.

For additional information on net charge-offs, credit trends and the allowance for credit losses, see the “Asset Quality” section below.

Net Gains and Losses:

Net gains and losses include gains and losses on investment securities, asset disposals and other transactions, which are included in total non-interest income on the Consolidated Statements of Income. The net loss for the first quarter of 2025 was $0.4 million, compared to a net loss of $1.7 million for the linked quarter, and a net loss of $0.3 million for the first quarter of 2024. The net losses for both the first quarter of 2025 and of 2024 were driven by a $0.3 million loss on repossessed assets in each quarter. The net loss for the linked quarter was primarily driven by a $1.2 million write-down of an other real estate owned (“OREO”) property, which was acquired in a prior merger.

Total Non-interest Income, Excluding Net Gains and Losses:

Total non-interest income, excluding net gains and losses, for the first quarter of 2025 increased $0.6 million compared to the linked quarter. The increase in non-interest income, excluding net gains and losses, was primarily impacted by an increase of $1.5 million in insurance income due to seasonal performance-based commissions being paid in the first quarter of each year, partially offset by decreases in deposit account service charges and electronic banking income of $0.5 million and $0.4 million, respectively. Total non-interest income, excluding net gains and losses, for the first quarter of 2025 was 24% of total revenue (defined as net interest income plus total non-interest income excluding net gains and losses) consistent with the linked quarter.

Compared to the first quarter of 2024, total non-interest income, excluding net gains and losses, increased $1.3 million, due to additional operating lease income of $1.4 million and trust and investment income of $0.4 million, offset by a decrease of $0.4 million in both insurance income and bank owned life insurance income (“BOLI”).

Total Non-interest Expense:

Total non-interest expense increased $0.3 million for the first quarter of 2025, compared to the linked quarter. The increase in total non-interest expense was primarily due to an increase of $2.3 million in salaries and employee benefit costs, which was driven by annual merit increases, $1.3 million in stock-based compensation expenses attributable to forfeiture rate true-up on stock vested during the first quarter along with up-front expense on stock grants to certain retirement-eligible employees, and $0.7 million in health savings account (“HSA”) contributions, partially offset by a decrease of $1.3 million in other non-interest expense, driven by a reduction in acquisition-related expenses, coupled with decreases in amortization of other intangible assets and marketing expense.

Compared to the first quarter of 2024, total non-interest expense increased $2.3 million, or 3%. The increase in total non-interest expense was primarily driven by increases of $1.2 million in data processing and software expense, $0.9 million in salaries and employee benefit costs, which were driven by higher sales-based incentive and medical costs, and $0.9 million in other non-interest expense, which was driven by increased postage costs, partially offset by a decrease of $0.7 million in net occupancy and equipment expense.

The efficiency ratio for the first quarter of 2025 was 60.7%, compared to 59.6% for the linked quarter and 58.1% for the first quarter of 2024. The efficiency ratio increased compared to the linked quarter mainly as the result of higher non-interest expense, which was driven by annual expenses that occur in the first quarter of each year. The efficiency ratio increased for the first quarter of 2025 compared to the first quarter of 2024 due to higher non-interest expense. Peoples continues to focus on controlling expenses, while recognizing necessary costs in order to continue growing the business.

Income Tax Expense:

Peoples recorded income tax expense of $7.0 million with an effective tax rate of 22.4% for the first quarter of 2025, compared to income tax expense of $7.9 million with an effective tax rate of 22.7% for the linked quarter and income tax expense of $8.3 million with an effective tax rate of 21.8% for the first quarter of 2024. The decrease in income tax expense when compared to the prior quarter and to the first quarter of 2024 was primarily due to lower net income.

Investment Securities and Liquidity:

Peoples’ investment portfolio primarily consists of available-for-sale investment securities reported at fair value and held-to-maturity investment securities reported at amortized cost. The available-for-sale investment securities balance at March 31, 2025 decreased $9.9 million when compared to at December 31, 2024, and decreased $42.8 million when compared to at March 31, 2024. The balances of unrealized losses, net of tax, on available-for-sale investment securities recognized within accumulated other comprehensive loss were $96.6 million, $111.8 million, and $111.8 million at March 31, 2025, at December 31, 2024, and at March 31, 2024, respectively. The decrease in accumulated other comprehensive loss was the result of the changes in the market value of available-for-sale investment securities during the period and were driven by changes in market interest rates. At March 31, 2025, Peoples’ investment securities represented approximately 20.3% of total assets, compared to 20.7% at December 31, 2024, and 20.1% at March 31, 2024.

The held-to-maturity investment securities balance at March 31, 2025 decreased $21.3 million when compared to at December 31, 2024 and increased $74.0 million when compared to at March 31, 2024. The decrease when compared to at December 31, 2024 was primarily driven by principal payments. The increase when compared to March 31, 2024, was primarily driven by purchases of higher yielding, longer duration securities booked as held-to-maturity. The balances of net unrealized losses on held-to-maturity investment securities were $70.2 million, $82.3 million, and $77.4 million at March 31, 2025, at December 31, 2024, and at March 31, 2024, respectively.

The effective duration of the investment portfolio as of March 31, 2025 was approximately 6.36 years. The duration of Peoples’ investments is managed as part of its Asset Liability Management program, and has the potential to impact both liquidity and capital, as mismatches in duration may require a liquidation of investment securities at market prices to meet funding needs. These assets are one component of Peoples’ liquidity profile.

Peoples maintains a number of liquid and liquefiable assets, borrowing capacity, and other sources of liquidity to ensure the availability of funds. At March 31, 2025, Peoples had liquid and liquefiable assets totaling $723.7 million, which included (i) cash and cash equivalents, (ii) unpledged government and agency investment securities and (iii) unpledged non-agency investment securities that could be liquidated. At March 31, 2025, Peoples had a total borrowing capacity of $1.1 billion available through the Federal Home Loan Bank (“FHLB”), the Federal Reserve Bank (“FRB”), and federal funds. Additionally, at March 31, 2025, Peoples had other contingent sources of liquidity totaling $3.9 billion. Cash and cash equivalents decreased $30.7 million when compared to December 31, 2024 due to timing of deposit inflows and loan outflows as of December 31, 2024.

Loans and Leases:

The period-end total loan and lease balances at March 31, 2025 increased $70.5 million, or 4% annualized, compared to at December 31, 2024. The increase in the period-end total loan and lease balances was driven by increases of $74.5 million of other commercial real estate loans and $13.1 million of residential real estate loans, partially offset by decreases of $11.1 million in leases and $9.3 million of construction loans.

The period-end total loan and lease balances at March 31, 2025 increased $225.7 million, or 4%, compared to at March 31, 2024, primarily driven by growth in our commercial and industrial loans, residential real estate loans, and indirect consumer loans of $129.2 million, $66.3 million, and $30.0 million respectively. These were partially offset by a decrease in leases of $27.2 million, primarily driven by our North Star Leasing business.

Quarterly average total loan balances increased $113.2 million, or 2%, compared to the linked quarter. The increase in average total loan balances when compared to the linked quarter was primarily the result of increases of (i) $76.5 million in commercial and industrial loans, (ii) $46.3 million in residential real estate loans, and (iii) $35.1 million in other commercial real estate loans, partially offset by decreases of $18.0 million, $17.5 million, and $11.7 million in premium finance loans, leases, and construction loans, respectively.

Compared to the first quarter of 2024, quarterly average loan balances in the current quarter increased $187.3 million, or 3%. The increase was driven by growth of (i) $132.9 million in commercial and industrial loans, (ii) $48.8 million in premium finance loans, and (iii) $25.1 million in residential real estate loans, partially offset by a decrease of $26.3 million in construction loans.

Asset Quality:

Key asset quality metrics improved through the first quarter of 2025. Delinquency trends remained stable as loans considered current comprised 98.5%, 98.7%, and 98.7% of the loan portfolio at March 31, 2025, at December 31, 2024, and at March 31, 2024, respectively. Total nonperforming assets at March 31, 2025 decreased $3.1 million, or 6%, compared to at December 31, 2024, and decreased $0.4 million, or 1%, compared to at March 31, 2024. The decrease in nonperforming assets compared to the linked quarter was primarily driven by the reduction in the amount of premium finance loans greater than 90 days administratively delinquent and decreases in nonaccrual other commercial real estate loans and commercial and industrial loans. The decrease in nonperforming assets compared to at March 31, 2024, was impacted by the decrease of the amount of leases greater than 90 days administratively delinquent. Nonperforming assets as a percent of total loans and OREO was 0.71% at March 31, 2025, compared to 0.77% at December 31, 2024, and 0.74% at March 31, 2024.

Criticized loans, which are those categorized as special mention, substandard or doubtful, decreased $14.4 million, or 6%, compared to at December 31, 2024, and decreased $29.7 million, or 12%, compared to at March 31, 2024. As a percent of total loans, criticized loans were 3.53% at March 31, 2025, compared to 3.80% at December 31, 2024, and 4.14% at March 31, 2024. The decrease in the amount of criticized loans compared to at December 31, 2024 was primarily driven by commercial loan upgrades and payoffs. Compared to at March 31, 2024, the decrease in the amount of criticized loans was primarily driven by commercial loan upgrades.

Classified loans, which are those categorized as substandard or doubtful, decreased $4.8 million, or 4%, compared to at December 31, 2024, and decreased $23.5 million, or 16%, compared to at March 31, 2024. As a percent of total loans, classified loans were 1.93% at March 31, 2025, compared to 2.03% at December 31, 2024, and 2.38% at March 31, 2024. The decrease in classified loans compared to at December 31, 2024 was primarily driven by commercial loan paydowns and upgrades. The decrease in classified loans when compared to at March 31, 2024, was primarily driven by commercial loan paydowns and upgrades.

Annualized net charge-offs were 0.52% of average total loans for the first quarter of 2025, compared to 0.61% for the linked quarter, and 0.22% for the first quarter of 2024. The decrease relative to the linked quarter was driven by a decrease in charge-offs on leases originated by our North Star Leasing business, which comprised 31 basis points of the first quarter net charge-off rate and 49 basis points of the linked quarter net charge-off rate. The increase in net charge-offs during the first quarter of 2025 versus the prior year first quarter was primarily attributable to an increase in charge-offs on leases originated by our North Star Leasing business.

At March 31, 2025, the allowance for credit losses increased $1.9 million when compared to December 31, 2024, and increased $0.4 million when compared to at March 31, 2024. The increase in the allowance for credit losses at March 31, 2025 when compared to at December 31, 2024 was primarily due to (i) a deterioration of macro-economic conditions used within the CECL model, (ii) an increase of reserves on individually analyzed loans and (iii) loan growth. The increase in the allowance balance at March 31, 2025 when compared to March 31, 2024 was driven by loan growth and a slight increase of reserves on individually analyzed loans. The ratio of the allowance for credit losses as a percent of total loans was 1.01% at March 31, 2025, compared to 1.00% at December 31, 2024, and 1.05% at March 31, 2024. The ratio of allowance for credit losses as a percentage of non-performing loans increased to 163.77% at March 31, 2025 compared to 148.13% at December 31, 2024, and 166.11% at March 31, 2024.

Deposits:

As of March 31, 2025, period-end total deposits increased $144.5 million compared to at December 31, 2024, which was primarily driven by increases of $89.1 million in money market deposit accounts, $58.6 million in governmental deposit accounts, and $44.6 million in retail certificates of deposits, partially offset by a decrease of $96.0 million in brokered deposits. The increase in governmental deposit accounts was due to the seasonality of those balances, and the increase in retail certificates of deposits was due to current specials being offered. The decrease in brokered deposit accounts was due to a strategic shift to other funding sources at lower rates.

Compared to March 31, 2024, period-end deposit balances increased $408.2 million, or 6%. The increase was driven by increases of $285.6 million in retail certificates of deposits, $107.4 million in money market deposit accounts, and $57.9 million of non-interest bearing deposits, partially offset by decreases of $24.5 million and $21.6 million in brokered deposits and interest-bearing deposits, respectively. The increase in retail certificates of deposits was driven by special promotional rate offerings over the past year.

The percentages of retail deposit balances and commercial deposit balances of the total deposit balance were 76% and 24%, respectively, at March 31, 2025, 79% and 21%, respectively, at December 31, 2024, and 76% and 24%, respectively, at March 31, 2024.

Uninsured deposits were 27%, 26%, and 28% of total deposits at March 31, 2025, at December 31, 2024, and at March 31, 2024, respectively. Uninsured amounts are estimated based on the portion of customer account balances that exceeded the FDIC limit of $250,000. Peoples pledges investment securities against certain governmental deposit accounts, which collateralized $725.5 million, or 35%, $656.9 million, or 33%, and $865.6 million, or 42%, of the uninsured deposit balances at March 31, 2025, at December 31, 2024, and at March 31, 2024, respectively.

Average deposit balances during the first quarter of 2025 increased $84.1 million, or 1%, when compared to the linked quarter, and increased $445.6 million, or 6%, when compared to the first quarter of 2024. The increase over the linked quarter was driven by increases of $55.7 million in brokered deposits, $35.1 million in retail certificates of deposits, and $21.7 million in money market deposit accounts, which were partially offset by decreases of $29.9 million and $18.0 million in governmental deposit accounts and non-interest bearing deposit accounts, respectively. Total demand deposit accounts comprised 34%, 34%, and 35% of total deposits at March 31, 2025, at December 31, 2024 and at March 31, 2024, respectively.

Stockholders’ Equity:

Total stockholders’ equity at March 31, 2025 increased $26.2 million, or 2%, compared to at December 31, 2024. This change was primarily driven by net income of $24.3 million and a decrease of $14.7 million in accumulated other comprehensive loss during the quarter, partially offset by dividends paid of $14.2 million. The decrease in accumulated other comprehensive loss was the result of the changes in the market value of available-for-sale investment securities during the period.

Total stockholders’ equity at March 31, 2025 increased $75.8 million, or 7%, compared to at March 31, 2024, which was due to net income of $112.0 million for the last twelve months and a decrease in other comprehensive loss of $13.2 million, partially offset by dividends paid of $56.8 million.

Peoples Bancorp Inc. (“Peoples”, Nasdaq: PEBO) is a diversified financial services holding company and makes available a complete line of banking, trust and investment, insurance and premium financing solutions through its subsidiaries. Headquartered in Marietta, Ohio since 1902, Peoples has established a heritage of financial stability, growth and community impact. Peoples had $9.2 billion in total assets as of March 31, 2025, and 147 locations, including 128 full-service bank branches in Ohio, West Virginia, Kentucky, Virginia, Washington D.C., and Maryland. Peoples’ vision is to be the Best Community Bank in America.

Peoples is a member of the Russell 3000 index of United States (“U.S.”) publicly-traded companies. Peoples offers services through Peoples Bank (which includes the divisions of Peoples Investment Services, Peoples Premium Finance and North Star Leasing), Peoples Insurance Agency, LLC, and Vantage Financial, LLC.

Conference Call to Discuss Earnings:
Peoples will conduct a facilitated conference call to discuss first quarter 2025 results of operations on April 22, 2025, at 11:00 a.m., Eastern Time, with members of Peoples’ executive management participating. Analysts, media and individual investors are invited to participate in the conference call by calling (866) 890-9285. A simultaneous webcast of the conference call audio and earnings conference call presentation will be available online via the “Investor Relations” section of Peoples’ website, www.peoplesbancorp.com. Participants are encouraged to call or sign in at least 15 minutes prior to the scheduled conference call time to ensure participation and, if required, to download and install the necessary software. A replay of the call will be available on Peoples’ website in the “Investor Relations” section for one year.

Use of Non-US GAAP Financial Measures:
This news release contains financial information and performance measures determined by methods other than those in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Management uses these “non-US GAAP” financial measures in its analysis of Peoples’ performance and the efficiency of its operations. Management believes that these non-US GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods and peers. These disclosures should not be viewed as substitutes for financial measures determined in accordance with US GAAP, nor are they necessarily comparable to non-US GAAP performance measures that may be presented by other companies. Below is a listing of the non-US GAAP financial measures used in this news release:

Core non-interest expense is a non-US GAAP financial measure since it excludes the impact of acquisition-related expense.
The efficiency ratio is calculated as total non-interest expense (less amortization of other intangible assets) as a percentage of fully tax-equivalent net interest income plus total non-interest income, excluding net gains and losses. This ratio is a non-US GAAP financial measure since it excludes amortization of other intangible assets and all gains and losses included in earnings, and uses fully tax-equivalent net interest income.
Tangible assets, tangible equity, the tangible equity to tangible assets ratio and tangible book value per common share are non-US GAAP financial measures since they exclude the impact of goodwill and other intangible assets acquired through acquisitions on both total stockholders’ equity and total assets.
Total non-interest income, excluding net gains and losses, is a non-US GAAP financial measure since it excludes all gains and losses included in earnings.
Pre-provision net revenue is defined as net interest income plus total non-interest income, excluding net gains and losses, minus total non-interest expense. This measure is a non-US GAAP financial measure since it excludes the provision for (recovery of) credit losses and all gains and losses included in net income.
Return on average tangible equity is calculated as annualized net income (less the after-tax impact of amortization of other intangible assets) divided by average tangible equity. This measure is a non-US GAAP financial measure since it excludes the after-tax impact of amortization of other intangible assets from net income and the impact of average goodwill and other average intangible assets acquired through acquisitions on average stockholders’ equity.

A reconciliation of these non-US GAAP financial measures to the most directly comparable US GAAP financial measures is included at the end of this news release under the caption of “Non-US GAAP Financial Measures (Unaudited).”

Safe Harbor Statement:
Certain statements made in this news release regarding Peoples’ financial condition, results of operations, plans, objectives, future performance and business, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by the fact they are not historical facts and include words such as “anticipate,” “estimate,” “may,” “feel,” “expect,” “believe,” “plan,” “will,” “will likely,” “would,” “should,” “could,” “project,” “goal,” “target,” “potential,” “seek,” “intend,” “continue,” “remain,” and similar expressions.

These forward-looking statements reflect management’s current expectations based on all information available to management and its knowledge of Peoples’ business and operations. Additionally, Peoples’ financial condition, results of operations, plans, objectives, future performance and business are subject to risks and uncertainties that may cause actual results to differ materially. These factors include, but are not limited to:

(1)	the effects of interest rate policies, changes in the interest rate environment due to economic conditions and/or the fiscal and monetary policy measures undertaken by the U.S. government and the Federal Reserve Board, including changes in the Federal Funds Target Rate, in response to such economic conditions, which may adversely impact interest rates, the interest rate yield curve, interest margins, loan demand and interest rate sensitivity;
(2)	the effects of inflationary pressures on borrowers’ liquidity and ability to repay;
(3)	the success, impact, and timing of the implementation of Peoples’ business strategies and Peoples’ ability to manage strategic initiatives, including the interest rate policies of the Federal Reserve Board, the completion and successful integration of acquisitions, and the expansion of commercial and consumer lending activities;
(4)	competitive pressures among financial institutions, or from non-financial institutions, which may increase significantly, including product and pricing pressures, which can in turn impact Peoples’ credit spreads, changes to third-party relationships and revenues, changes in the manner of providing services, customer acquisition and retention pressures, and Peoples’ ability to attract, develop and retain qualified professionals;
(5)	uncertainty regarding the nature, timing, cost, and effect of legislative or regulatory changes or actions, or deposit insurance premium levels, promulgated and to be promulgated by governmental and regulatory agencies, including the Ohio Division of Financial Institutions, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Consumer Financial Protection Bureau, which may subject Peoples, its subsidiaries, or acquired companies to a variety of new and more stringent legal and regulatory requirements;
(6)	the effects of easing restrictions on participants in the financial services industry;
(7)	current and future local, regional, national and international economic conditions (including the impact of persistent inflation, supply chain issues or labor shortages, supply-demand imbalances affecting local real estate prices, high unemployment rates in the local or regional economies in which Peoples operates and/or the U.S. economy generally, an increasing federal government budget deficit, the failure of the federal government to raise the federal debt ceiling, potential or imposed tariffs, a U.S. withdrawal from or significant renegotiation of trade agreements, trade wars and other changes in trade regulations, changes in the relationship of the U.S. and U.S. global trading partners), and changes in the federal, state, and local governmental policy and the impact these conditions may have on Peoples, Peoples’ customers and Peoples’ counterparties, and Peoples’ assessment of the impact, which may be different than anticipated;
(8)	Peoples may issue equity securities in connection with future acquisitions, which could cause ownership and economic dilution to Peoples’ current shareholders;
(9)	changes in prepayment speeds, loan originations, levels of nonperforming assets, delinquent loans, charge-offs, and customer and other counterparties’ performance and creditworthiness generally, which may be less favorable than expected in light of recent inflationary pressures and continued elevated interest rates, and may adversely impact the amount of interest income generated;
(10)	Peoples may have more credit risk and higher credit losses to the extent there are loan concentrations by location or industry of borrowers or collateral;
(11)	future credit quality and performance, including expectations regarding future credit losses and the allowance for credit losses;
(12)	changes in accounting standards, policies, estimates or procedures may adversely affect Peoples’ reported financial condition or results of operations;
(13)	the impact of assumptions, estimates and inputs used within models, which may vary materially from actual outcomes, including under the CECL model;
(14)	adverse changes in the conditions and trends in the financial markets, including recent inflationary pressures: and the impacts of potential or imposed tariffs on markets, which may adversely affect the fair value of securities within Peoples’ investment portfolio, the interest rate sensitivity of Peoples’ consolidated balance sheet, and the income generated by Peoples’ trust and investment activities;
(15)	the volatility from quarter to quarter of mortgage banking income, whether due to interest rates, demand, the fair value of mortgage loans, or other factors;
(16)	Peoples’ ability to receive dividends from Peoples’ subsidiaries;
(17)	Peoples’ ability to maintain required capital levels and adequate sources of funding and liquidity;
(18)	the impact of larger or similar-sized financial institutions encountering problems, such as the failure in 2024 of Republic First Bank, and closures in 2023 of Silicon Valley Bank in California, Signature Bank in New York and First Republic Bank in California, which may adversely affect the banking industry and/or Peoples’ business generation and retention, funding and liquidity, including Peoples’ continued ability to grow deposits or maintain adequate deposit levels, and may further result in potential increased regulatory requirements, increased reputational risk and potential impacts to macroeconomic conditions;
(19)	Peoples’ ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks, including those of Peoples’ third-party vendors and other service providers, which may prove inadequate, and could adversely affect customer confidence in Peoples and/or result in Peoples incurring a financial loss;
(20)	any misappropriation of the confidential information which Peoples possesses could have an adverse impact on Peoples’ business and could result in regulatory actions, litigation and other adverse effects;
(21)	Peoples’ ability to anticipate and respond to technological changes, and Peoples’ reliance on, and the potential failure of, a number of third-party vendors to perform as expected, including Peoples’ primary core banking system provider, which can impact Peoples’ ability to respond to customer needs and meet competitive demands;
(22)	operational issues stemming from and/or capital spending necessitated by the potential need to adapt to industry changes in information technology systems on which Peoples and Peoples’ subsidiaries are highly dependent;
(23)	changes in consumer spending, borrowing and saving habits, whether due to changes in retail distribution strategies, consumer preferences and behavior, changes in business and economic conditions, legislative or regulatory initiatives, or other factors, which may be different than anticipated;
(24)	the adequacy of Peoples’ internal controls and risk management program in the event of changes in strategic, reputational, market, economic, operational, cybersecurity, compliance, legal, asset/liability repricing, liquidity, credit and interest rate risks associated with Peoples’ business;
(25)	the impact on Peoples’ businesses, personnel, facilities or systems of losses related to acts of fraud, theft, misappropriation or violence;
(26)	the impact on Peoples’ businesses, as well as on the risks described above, of various domestic or international widespread natural or other disasters including severe weather events, pandemics, cybersecurity attacks, system failures, civil unrest, military or terrorist activities or international conflicts (including Russia’s war in Ukraine and the ongoing conflicts in the Middle East);
(27)	the potential deterioration of the U.S. economy due to financial, political or other shocks;
(28)	the potential influence on the U.S. financial markets and economy from the effects of climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs;
(29)	the impact on Peoples’ businesses and operating results of any costs associated with obtaining rights in intellectual property claimed by others and adequately protecting Peoples’ intellectual property;
(30)	risks and uncertainties associated with Peoples’ entry into new geographic markets and risks resulting from Peoples’ inexperience in these new geographic markets;
(31)	changes in laws or regulations imposed by Peoples’ regulators impacting Peoples’ capital actions, including dividend payments and share repurchases;
(32)	the vulnerability of Peoples’ network and online banking portals, and the systems of parties with whom Peoples contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches;
(33)	regulatory and legal matters, including the failure to resolve any outstanding matters on a timely basis and the potential of new regulatory matters, litigation, or other legal actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;
(34)	Peoples’ business may be adversely affected by increased political and regulatory scrutiny of corporate environmental, social and governance (“ESG”) practices;
(35)	the effect of a fall in stock market prices on the asset and wealth management business; and
(36)	other risk factors relating to the banking industry or Peoples as detailed from time to time in Peoples’ reports filed with the Securities and Exchange Commission (the “SEC”), including those risk factors included in the disclosures under the heading “ITEM 1A. RISK FACTORS” of Peoples’ Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Peoples encourages readers of this news release to understand forward-looking statements to be strategic objectives rather than absolute targets of future performance. Peoples undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by applicable legal requirements. Copies of documents filed with the SEC are available free of charge at the SEC’s website at http://www.sec.gov and/or from Peoples’ website – www.peoplesbancorp.com under the “Investor Relations” section.

As required by U.S. GAAP, Peoples is required to evaluate the impact of subsequent events through the issuance date of its March 31, 2025 consolidated financial statements as part of its Quarterly Report on Form 10-Q to be filed with the SEC. Accordingly, subsequent events could occur that may cause Peoples to update its critical accounting estimates and/or to revise its financial information from the estimates and information contained in this news release.

PER COMMON SHARE DATA AND SELECTED RATIOS (Unaudited)
	At or For the Three Months Ended
	March 31,	December 31,	March 31,
	2025	2024	2024
PER COMMON SHARE:
Earnings per common share:
Basic	$ 0.69	$ 0.77	$ 0.85
Diluted	0.68	0.76	0.84
Cash dividends declared per common share	0.40	0.40	0.39
Book value per common share (a)	31.90	31.26	29.93
Tangible book value per common share (a)(b)	20.68	19.94	18.39
Closing price of common shares at end of period	$ 29.66	$ 31.69	$ 29.61

SELECTED RATIOS:
Return on average stockholders’ equity (c)	8.79 %	9.56 %	11.30 %
Return on average tangible equity (c)(d)	14.66 %	16.15 %	19.91 %
Return on average assets (c)	1.07 %	1.17 %	1.32 %
Efficiency ratio (e)(f)	60.68 %	59.57 %	58.06 %
Net interest margin (c)(f)	4.12 %	4.15 %	4.26 %
Dividend payout ratio (g)	58.46 %	52.79 %	46.46 %


(a)	Data presented as of the end of the period indicated.
(b)	Tangible book value per common share represents a non-US GAAP financial measure since it excludes the balance sheet impact of goodwill and other intangible assets acquired through acquisitions on stockholders’ equity. Additional information regarding the calculation of this ratio is included at the end of this news release under the caption of “Non-US GAAP Financial Measures (Unaudited).”
(c)	Ratios are presented on an annualized basis.
(d)	Return on average tangible equity represents a non-US GAAP financial measure since it excludes the after-tax impact of amortization of other intangible assets from net income and it excludes the balance sheet impact of average goodwill and other intangible assets acquired through acquisitions on average stockholders’ equity. Additional information regarding the calculation of this ratio is included at the end of this news release under the caption of “Non-US GAAP Financial Measures (Unaudited).”
(e)	The efficiency ratio is defined as total non-interest expense (less amortization of other intangible assets) as a percentage of fully tax-equivalent net interest income plus total non-interest income (excluding all gains and losses). This ratio represents a non-US GAAP financial measure since it excludes amortization of other intangible assets, and all gains and losses included in earnings, and uses fully tax-equivalent net interest income. Additional information regarding the calculation of this ratio is included at the end of this news release under the caption of “Non-US GAAP Financial Measures (Unaudited).”
(f)	Interest income and yields are presented on a fully tax-equivalent basis, using a 21% statutory federal corporate income tax rate.
(g)	This ratio is calculated based on dividends declared during the period divided by net income for the period.

CONSOLIDATED STATEMENTS OF INCOME
	Three Months Ended
	March 31,	December 31,	March 31,
	2025	2024	2024
(Dollars in thousands, except per share data)	(Unaudited)	(Unaudited)	(Unaudited)
Total interest income	$ 124,542	$ 128,793	$ 127,593
Total interest expense	39,287	42,257	40,953
Net interest income	85,255	86,536	86,640
Provision for credit losses	10,190	6,267	6,102
Net interest income after provision for credit losses	75,065	80,269	80,538

Non-interest income:
Insurance income	6,054	4,523	6,498
Electronic banking income	5,885	6,267	6,046
Trust and investment income	5,061	5,033	4,599
Deposit account service charges	4,015	4,502	4,223
Lease income	3,446	3,200	2,016
Bank owned life insurance income	1,133	1,219	1,500
Mortgage banking income	396	173	321
Net (loss) gain on investment securities	(2)	12	(1)
Net loss on asset disposals and other transactions	(361)	(1,746)	(341)
Other non-interest income	1,472	1,906	918
Total non-interest income	27,099	25,089	25,779

Non-interest expense:
Salaries and employee benefit costs	39,821	37,499	38,893
Data processing and software expense	7,005	6,598	5,769
Net occupancy and equipment expense	5,612	5,821	6,283
Professional fees	3,087	3,311	2,967
Amortization of other intangible assets	2,213	2,800	2,788
Electronic banking expense	2,025	1,982	1,781
FDIC insurance expense	1,251	1,251	1,186
Other loan expenses	1,119	857	1,076
Operating lease expense	985	1,102	639
Franchise tax expense	929	664	881
Marketing expense	903	1,206	1,056
Communication expense	734	796	799
Travel and entertainment expense	500	723	608
Other non-interest expense	4,603	5,893	3,739
Total non-interest expense	70,787	70,503	68,465
Income before income taxes	31,377	34,855	37,852
Income tax expense	7,041	7,925	8,268
Net income	$ 24,336	$ 26,930	$ 29,584
CONSOLIDATED STATEMENTS OF INCOME (Cont.)
	Three Months Ended
	March 31,	December 31,	March 31,
	2025	2024	2024
(Dollars in thousands, except per share data)	(Unaudited)	(Unaudited)	(Unaudited)
PER COMMON SHARE DATA:
Net income available to common shareholders	$ 24,336	$ 26,930	$ 29,584
Less: Dividends paid on unvested common shares	210	212	143
Less: Undistributed income allocated to unvested common shares	37	48	64
Net earnings allocated to common shareholders	$ 24,089	$ 26,670	$ 29,377

Weighted-average common shares outstanding	34,895,723	34,819,062	34,740,349
Effect of potentially dilutive common shares	401,412	453,003	311,461
Total weighted-average diluted common shares outstanding	35,297,135	35,272,065	35,051,810

Earnings per common share – basic	$ 0.69	$ 0.77	$ 0.85
Earnings per common share – diluted	$ 0.68	$ 0.76	$ 0.84
Cash dividends declared per common share	$ 0.40	$ 0.40	$ 0.39

Weighted-average common shares outstanding – basic	34,895,723	34,819,062	34,740,349
Weighted-average common shares outstanding – diluted	35,297,135	35,272,065	35,051,810
Common shares outstanding at the end of period	35,669,100	35,563,590	35,480,918

CONSOLIDATED BALANCE SHEETS
	March 31,	December 31,
	2025	2024
(Dollars in thousands)	(Unaudited)
Assets
Cash and cash equivalents:
Cash and due from banks	$ 126,307	$ 108,721
Interest-bearing deposits in other banks	60,671	108,943
Total cash and cash equivalents	186,978	217,664
Available-for-sale investment securities, at fair value (amortized cost of
$1,199,676 at March 31, 2025 and $1,229,382 at December 31, 2024) (a)	1,073,674	1,083,555
Held-to-maturity investment securities, at amortized cost (fair value of
$683,315 at March 31, 2025 and $692,499 at December 31, 2024) (a)	753,466	774,800
Other investment securities, at cost	51,322	60,132
Total investment securities (a)	1,878,462	1,918,487
Loans and leases, net of deferred fees and costs (b)	6,428,526	6,358,003
Allowance for credit losses	(65,232)	(63,348)
Net loans and leases	6,363,294	6,294,655
Loans held for sale	2,407	2,348
Bank premises and equipment, net of accumulated depreciation	103,847	103,669
Bank owned life insurance	144,843	143,710
Goodwill	363,199	363,199
Other intangible assets	36,900	39,223
Other assets	166,070	171,292
Total assets	$ 9,246,000	$ 9,254,247
Liabilities
Deposits:
Non-interest-bearing	$ 1,526,285	$ 1,507,661
Interest-bearing	6,208,464	6,082,544
Total deposits	7,734,749	7,590,205
Short-term borrowings	19,228	193,474
Long-term borrowings	237,000	238,073
Accrued expenses and other liabilities	117,202	120,905
Total liabilities	$ 8,108,179	$ 8,142,657

Stockholders’ Equity
Preferred shares, no par value, 50,000 shares authorized, no shares issued at March 31, 2025 or at December 31, 2024	—	—
Common shares, no par value, 50,000,000 shares authorized, 36,795,107 shares issued at March 31, 2025 and 36,782,601 shares issued at December 31, 2024, including shares in treasury	866,416	866,844
Retained earnings	398,218	388,109
Accumulated other comprehensive loss, net of deferred income taxes	(95,691)	(110,385)
Treasury stock, at cost, 1,220,262 common shares at March 31, 2025 and 1,311,175 common shares at December 31, 2024	(31,122)	(32,978)
Total stockholders’ equity	1,137,821	1,111,590
Total liabilities and stockholders’ equity	$ 9,246,000	$ 9,254,247

(a)	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, for both March 31, 2025 and December 31, 2024.
(b)	Also referred to throughout this document as “total loans” and “loans held for investment.”

SELECTED FINANCIAL INFORMATION (Unaudited)

	March 31,	December 31,	September 30,	June 30,	March 31,
(Dollars in thousands)	2025	2024	2024	2024	2024
Loan Portfolio
Construction	$ 319,104	$ 328,388	$ 320,094	$ 340,601	$ 314,687
Commercial real estate, other	2,230,538	2,156,013	2,180,491	2,195,979	2,243,780
Commercial and industrial	1,343,827	1,347,645	1,250,152	1,258,063	1,214,615
Premium finance	264,080	269,435	286,983	293,349	238,962
Leases	395,454	406,598	433,009	430,651	422,694
Residential real estate	848,168	835,101	777,542	789,344	781,888
Home equity lines of credit	235,409	232,661	233,109	227,608	221,079
Consumer, indirect	680,260	669,857	677,056	675,054	650,228
Consumer, direct	110,639	111,052	112,198	113,655	113,588
Deposit account overdrafts	1,047	1,253	1,205	1,067	1,306
Total loans and leases	$ 6,428,526	$ 6,358,003	$ 6,271,839	$ 6,325,371	$ 6,202,827
Total acquired loans and leases (a)	$ 1,511,704	$ 1,557,728	$ 1,585,552	$ 1,686,784	$ 1,757,169
Total originated loans and leases	$ 4,916,822	$ 4,800,275	$ 4,686,287	$ 4,638,587	$ 4,445,658
Total Investment Securities	$ 1,878,462	$ 1,918,487	$ 1,829,995	$ 1,883,865	$ 1,858,911
Deposit Balances
Non-interest-bearing deposits (b)	$ 1,526,285	$ 1,507,661	$ 1,453,441	$ 1,472,697	$ 1,468,363
Interest-bearing deposits:
Interest-bearing demand accounts (b)	1,086,112	1,085,152	1,065,912	1,083,512	1,107,712
Retail certificates of deposit	1,965,978	1,921,415	1,884,139	1,812,874	1,680,413
Money market deposit accounts	967,331	878,254	894,690	869,159	859,961
Governmental deposit accounts	834,409	775,782	824,136	766,337	825,170
Savings accounts	895,677	866,959	864,935	880,542	901,493
Brokered deposits	458,957	554,982	495,904	412,653	483,444
Total interest-bearing deposits	$ 6,208,464	$ 6,082,544	$ 6,029,716	$ 5,825,077	$ 5,858,193
Total deposits	$ 7,734,749	$ 7,590,205	$ 7,483,157	$ 7,297,774	$ 7,326,556
Total demand deposits (b)	$ 2,612,397	$ 2,592,813	$ 2,519,353	$ 2,556,209	$ 2,576,075
Asset Quality
Nonperforming assets (NPAs):
Loans 90+ days past due and accruing	$ 4,206	$ 8,637	$ 27,578	$ 7,592	$ 7,662
Nonaccrual loans	35,626	34,129	34,807	33,669	31,361
Total nonperforming loans (NPLs) (f)	39,832	42,766	62,385	41,261	39,023
Other real estate owned (OREO)	5,980	6,170	7,397	7,409	7,238
Total NPAs (f)	$ 45,812	$ 48,936	$ 69,782	$ 48,670	$ 46,261
Criticized loans (c)	$ 226,883	$ 241,302	$ 237,627	$ 239,943	$ 256,565
Classified loans (d)	123,988	128,815	133,241	120,180	147,518
Allowance for credit losses as a percent of NPLs (f)	163.77 %	148.13 %	106.82 %	160.56 %	166.11 %
NPLs as a percent of total loans (f)	0.62 %	0.67 %	0.99 %	0.65 %	0.63 %
NPAs as a percent of total assets (f)	0.50 %	0.53 %	0.76 %	0.53 %	0.50 %
NPAs as a percent of total loans and OREO (f)	0.71 %	0.77 %	1.11 %	0.77 %	0.74 %
Criticized loans as a percent of total loans (c)	3.53 %	3.80 %	3.79 %	3.79 %	4.14 %
Classified loans as a percent of total loans (d)	1.93 %	2.03 %	2.12 %	1.90 %	2.38 %
Allowance for credit losses as a percent of total loans	1.01 %	1.00 %	1.06 %	1.05 %	1.05 %
Total demand deposits as a percent of total deposits (b)	33.77 %	34.16 %	33.67 %	35.03 %	35.16 %
Capital Information (e)(g)(i)
Common equity tier 1 capital ratio (h)	12.09 %	11.95 %	11.80 %	11.74 %	11.69 %
Tier 1 risk-based capital ratio	12.53 %	12.39 %	12.24 %	12.18 %	12.14 %
Total risk-based capital ratio (tier 1 and tier 2)	13.78 %	13.58 %	13.42 %	13.44 %	13.40 %
Leverage ratio	9.81 %	9.73 %	9.59 %	9.29 %	9.16 %
Common equity tier 1 capital	$ 845,200	$ 833,128	$ 821,192	$ 799,710	$ 780,018
Tier 1 capital	876,245	863,974	851,823	830,126	810,219
Total capital (tier 1 and tier 2)	963,170	946,724	933,679	916,073	894,663
Total risk-weighted assets	$ 6,991,360	$ 6,971,490	$ 6,958,225	$ 6,814,149	$ 6,674,196
Total stockholders’ equity to total assets	12.31 %	12.01 %	12.31 %	11.68 %	11.46 %
Tangible equity to tangible assets (j)	8.34 %	8.01 %	8.25 %	7.61 %	7.37 %


(a)	Includes all loans and leases acquired and purchased in 2012 and thereafter.
(b)	The sum of non-interest-bearing deposits and interest-bearing demand accounts is considered total demand deposits.
(c)	Includes loans categorized as special mention, substandard, or doubtful.
(d)	Includes loans categorized as substandard or doubtful.
(e)	Data presented as of the end of the period indicated.
(f)	Nonperforming loans include loans 90+ days past due and accruing, renegotiated loans and nonaccrual loans. Nonperforming assets include nonperforming loans and OREO.
(g)	March 31, 2025 data based on preliminary analysis and subject to revision.
(h)	Peoples’ capital conservation buffer was 5.78% at March 31, 2025, 5.58% at December 31, 2024, 5.44% at September 30, 2024, 5.42% at June 30, 2024, 5.40% and at March 31, 2024, compared to required capital conservation buffer of 2.50%
(i)	Peoples has adopted the five-year transition to phase in the impact of the adoption of CECL on regulatory capital ratios.
(j)	This ratio represents a non-US GAAP financial measure since it excludes the balance sheet impact of intangible assets acquired through acquisitions on both total stockholders’ equity and total assets. Additional information regarding the calculation of this ratio is included at the end of this news release under the caption of “Non-US GAAP Financial Measures (Unaudited).”

PROVISION FOR (RECOVERY OF) CREDIT LOSSES INFORMATION
	Three Months Ended
	March 31,	December 31,	March 31,
	2025	2024	2024
(Dollars in thousands)	(Unaudited)	(Unaudited)	(Unaudited)
Provision for credit losses
Provision for credit losses	$ 10,035	$ 6,014	$ 5,834
Provision for checking account overdrafts	155	253	268
Total provision for credit losses	$ 10,190	$ 6,267	$ 6,102

Net Charge-Offs
Gross charge-offs	$ 8,760	$ 10,040	$ 3,874
Recoveries	639	454	554
Net charge-offs	$ 8,121	$ 9,586	$ 3,320

Net Charge-Offs (Recoveries) by Type
Construction	$ —	$ —	$ —
Commercial real estate, other	211	195	129
Commercial and industrial	374	78	228
Premium finance	65	51	46
Leases	5,409	7,619	1,058
Residential real estate	93	99	(3)
Home equity lines of credit	—	—	(7)
Consumer, indirect	1,656	1,153	1,390
Consumer, direct	135	142	217
Deposit account overdrafts	178	249	262
Total net charge-offs	$ 8,121	$ 9,586	$ 3,320

As a percent of average total loans (annualized)	0.52 %	0.61 %	0.22 %

SUPPLEMENTAL INFORMATION (Unaudited)
	March 31,	December 31,	September 30,	June 30,	March 31,
(Dollars in thousands)	2025	2024	2024	2024	2024

Trust assets under administration and management	$ 2,037,992	$ 2,061,267	$ 2,124,320	$ 2,071,832	$ 2,061,402
Brokerage assets under administration and management	1,626,768	1,614,189	1,608,368	1,567,775	1,530,954
Mortgage loans serviced for others	337,279	346,189	347,719	341,298	348,937
Employees (full-time equivalent)	1,460	1,479	1,496	1,489	1,498

CONSOLIDATED AVERAGE BALANCE SHEETS AND NET INTEREST INCOME (Unaudited)
	Three Months Ended
	March 31, 2025			December 31, 2024			March 31, 2024
(Dollars in thousands)	Balance	Income/ Expense	Yield/ Cost	Balance	Income/ Expense	Yield/ Cost	Balance	Income/ Expense	Yield/ Cost
Assets
Short-term investments	$ 88,919	$ 900	4.10 %	$ 123,303	$ 1,432	4.62 %	$ 142,381	$ 1,922	5.44 %
Investment securities (a)(b)	1,897,035	16,598	3.50 %	1,910,266	16,353	3.42 %	1,832,599	15,235	3.33 %
Loans (b)(c):
Construction	313,130	5,572	7.12 %	324,856	6,139	7.39 %	339,448	6,404	7.48 %
Commercial real estate, other	2,069,134	33,260	6.43 %	2,034,083	34,776	6.69 %	2,076,219	37,242	7.12 %
Commercial and industrial	1,336,133	23,332	6.98 %	1,259,636	23,467	7.29 %	1,203,196	23,515	7.75 %
Premium finance	259,241	5,585	8.62 %	277,219	5,772	8.15 %	210,405	4,564	8.60 %
Leases	395,161	10,198	10.32 %	412,686	11,528	10.93 %	409,870	12,067	11.68 %
Residential real estate (d)	956,049	12,215	5.11 %	909,719	12,125	5.33 %	930,989	11,322	4.86 %
Home equity lines of credit	233,522	4,382	7.61 %	234,189	4,669	7.93 %	216,743	4,297	8.00 %
Consumer, indirect	674,211	10,548	6.34 %	670,470	10,590	6.28 %	656,244	9,281	5.70 %
Consumer, direct	117,881	2,234	7.69 %	118,370	2,229	7.49 %	124,091	2,098	6.82 %
Total loans	6,354,462	107,326	6.77 %	6,241,228	111,295	7.01 %	6,167,205	110,790	7.15 %
Allowance for credit losses	(63,060)			(65,798)			(61,236)
Net loans	6,291,402			6,175,430			6,105,969
Total earning assets	8,277,356	124,824	6.04 %	8,208,999	129,080	6.20 %	8,080,949	127,947	6.31 %

Goodwill and other intangible assets	401,344			402,930			410,719
Other assets	516,767			534,128			529,983
Total assets	$ 9,195,467			$ 9,146,057			$ 9,021,651

Liabilities and Equity
Interest-bearing deposits:
Savings accounts	$ 879,301	$ 250	0.12 %	$ 862,257	$ 209	0.10 %	$ 905,713	$ 226	0.10 %
Governmental deposit accounts	781,782	4,652	2.41 %	811,633	5,233	2.56 %	763,899	5,084	2.68 %
Interest-bearing demand accounts	1,083,999	490	0.18 %	1,081,591	580	0.21 %	1,109,033	452	0.16 %
Money market deposit accounts	914,076	5,291	2.35 %	892,370	5,518	2.46 %	784,759	4,888	2.51 %
Retail certificates of deposit	1,939,364	18,434	3.85 %	1,904,274	20,037	4.19 %	1,582,426	15,900	4.05 %
Brokered deposits (e)	564,660	6,046	4.34 %	508,944	5,568	4.35 %	568,996	5,900	4.17 %
Total interest-bearing deposits	6,163,182	35,163	2.31 %	6,061,069	37,145	2.44 %	5,714,826	32,450	2.28 %
Short-term borrowings (e)	56,564	508	3.63 %	92,472	1,088	4.70 %	388,830	5,037	5.19 %
Long-term borrowings	237,100	3,615	6.13 %	237,835	4,025	6.69 %	230,274	3,466	6.04 %
Total borrowed funds	293,664	4,123	5.65 %	330,307	5,113	6.13 %	619,104	8,503	5.50 %
Total interest-bearing liabilities	6,456,846	39,286	2.47 %	6,391,376	42,258	2.63 %	6,333,930	40,953	2.60 %

Non-interest-bearing deposits	1,498,964			1,516,933			1,501,738
Other liabilities	116,797			117,151			133,202
Total liabilities	8,072,607			8,025,460			7,968,870
Stockholders’ equity	1,122,860			1,120,597			1,052,781
Total liabilities and stockholders’ equity	$ 9,195,467			$ 9,146,057			$ 9,021,651

Net interest income/spread (b)		$ 85,538	3.57 %		$ 86,822	3.57 %		$ 86,994	3.71 %
Net interest margin (b)			4.12 %			4.15 %			4.26 %


(a)	Average balances are based on carrying value.
(b)	Interest income and yields are presented on a fully tax-equivalent basis, using a 21% statutory federal corporate income tax rate.
(c)	Average balances include nonaccrual and impaired loans. Interest income includes interest earned and received on nonaccrual loans prior to the loans being placed on nonaccrual status. Loan fees included in interest income were immaterial for all periods presented.
(d)	Loans held for sale are included in the average loan balance listed. Related interest income on loans originated for sale prior to the loan being sold is included in loan interest income.
(e)	Interest related to interest rate swap transactions is included, as appropriate to the transaction, in interest expense on short-term FHLB advances and interest expense on brokered deposits for the periods presented in which FHLB advances and brokered deposits were being utilized.

NON-US GAAP FINANCIAL MEASURES (Unaudited)
The following non-US GAAP financial measures used by Peoples provide information useful to investors in understanding Peoples’ operating performance and trends, and facilitate comparisons with the performance of Peoples’ peers. The following tables summarize the non-US GAAP financial measures derived from amounts reported in Peoples’ consolidated financial statements:
	Three Months Ended
	March 31,	December 31,	March 31,
(Dollars in thousands)	2025	2024	2024

Efficiency ratio:
Total non-interest expense	$ 70,787	$ 70,503	$ 68,465
Less: amortization of other intangible assets	2,213	2,800	2,788
Adjusted total non-interest expense	68,574	67,703	65,677

Total non-interest income	27,099	25,089	25,779
Less: net gain (loss) on investment securities	(2)	12	(1)
Less: net loss on asset disposals and other transactions	(361)	(1,746)	(341)
Total non-interest income, excluding net gains and losses	27,462	26,823	26,121

Net interest income	85,255	86,536	86,640
Add: fully tax-equivalent adjustment (a)	283	286	354
Net interest income on a fully tax-equivalent basis	85,538	86,822	86,994

Adjusted revenue	$ 113,000	$ 113,645	$ 113,115

Efficiency ratio	60.68 %	59.57 %	58.06 %

(a) Tax effect is calculated using a 21% statutory federal corporate income tax rate.

NON-US GAAP FINANCIAL MEASURES (Unaudited) — (Continued)
	At or For the Three Months Ended
	March 31,	December 31,	September 30,	June 30,	March 31,
(Dollars in thousands, except per share data)	2025	2024	2024	2024	2024

Tangible equity:
Total stockholders’ equity	$ 1,137,821	$ 1,111,590	$ 1,124,972	$ 1,077,833	$ 1,062,002
Less: goodwill and other intangible assets	400,099	402,422	403,922	406,417	409,285
Tangible equity	$ 737,722	$ 709,168	$ 721,050	$ 671,416	$ 652,717

Tangible assets:
Total assets	$ 9,246,000	$ 9,254,247	$ 9,140,471	$ 9,226,461	$ 9,270,774
Less: goodwill and other intangible assets	400,099	402,422	403,922	406,417	409,285
Tangible assets	$ 8,845,901	$ 8,851,825	$ 8,736,549	$ 8,820,044	$ 8,861,489

Tangible book value per common share:
Tangible equity	$ 737,722	$ 709,168	$ 721,050	$ 671,416	$ 652,717
Common shares outstanding	35,669,100	35,563,590	35,538,607	35,498,977	35,486,234

Tangible book value per common share	$ 20.68	$ 19.94	$ 20.29	$ 18.91	$ 18.39

Tangible equity to tangible assets ratio:
Tangible equity	$ 737,722	$ 709,168	$ 721,050	$ 671,416	$ 652,717
Tangible assets	$ 8,845,901	$ 8,851,825	$ 8,736,549	$ 8,820,044	$ 8,861,489

Tangible equity to tangible assets	8.34 %	8.01 %	8.25 %	7.61 %	7.37 %

	Three Months Ended
	March 31,	December 31,	March 31,
(Dollars in thousands)	2025	2024	2024

Pre-provision net revenue:
Income before income taxes	$ 31,377	$ 34,855	$ 37,852
Add: provision for credit losses	10,190	6,267	6,102
Add: net loss on OREO	—	1,228	—
Add: net loss on investment securities	2	—	1
Add: net loss on other assets	330	458	309
Add: net loss on other transactions	51	60	32
Less: net gain on OREO	20	—	—
Less: net gain on investment securities	—	12	—
Pre-provision net revenue	$ 41,930	$ 42,856	$ 44,296

NON-US GAAP FINANCIAL MEASURES (Unaudited) — (Continued)
	Three Months Ended
	March 31,	December 31,	March 31,
*(Dollars in thousands)*	2025	2024	2024

Annualized net income adjusted for non-core items:
Net income	$ 24,336	$ 26,930	$ 29,584
Add: net loss on investment securities	2	—	1
Less: tax effect of net loss on investment securities (a)	—	—	—
Less: net gain on investment securities	—	12	—
Add: tax effect of net gain on investment securities (a)	—	3	—
Add: net loss on asset disposals and other transactions	361	1,746	341
Less: tax effect of net loss on asset disposals and other transactions (a)	76	367	72
Add: acquisition-related expenses (benefit)	—	1,144	(84)
Less: tax effect of acquisition-related expenses (benefit) (a)	—	240	(18)
Net income adjusted for non-core items	$ 24,623	$ 29,204	$ 29,788

Days in the period	90	92	91
Days in the year	365	366	366
Annualized net income	$ 98,696	$ 107,135	$ 118,986
Annualized net income adjusted for non-core items	$ 99,860	$ 116,181	$ 119,807
Return on average assets:
Annualized net income	$ 98,696	$ 107,135	$ 118,986
Total average assets	$ 9,195,467	$ 9,146,057	$ 9,021,651
Return on average assets	1.07 %	1.17 %	1.32 %
Return on average assets adjusted for non-core items:
Annualized net income adjusted for non-core items	$ 99,860	$ 116,181	$ 119,807
Total average assets	$ 9,195,467	$ 9,146,057	$ 9,021,651
Return on average assets adjusted for non-core items	1.09 %	1.27 %	1.33 %

(a) Tax effect is calculated using a 21% statutory federal corporate income tax rate.

NON-US GAAP FINANCIAL MEASURES (Unaudited) — (Continued)
	For the Three Months Ended
	March 31,	December 31,	March 31,
(Dollars in thousands)	2025	2024	2024

Annualized net income excluding amortization of other intangible assets:
Net income	$ 24,336	$ 26,930	$ 29,584
Add: amortization of other intangible assets	2,213	2,800	2,788
Less: tax effect of amortization of other intangible assets (a)	465	588	585
Net income excluding amortization of other intangible assets	$ 26,084	$ 29,142	$ 31,787

Days in the period	90	92	91
Days in the year	365	366	366
Annualized net income	$ 98,696	$ 107,135	$ 118,986
Annualized net income excluding amortization of other intangible assets	$ 105,785	$ 115,934	$ 127,847

Average tangible equity:
Total average stockholders’ equity	$ 1,122,860	$ 1,120,597	$ 1,052,781
Less: average goodwill and other intangible assets	401,344	402,930	410,719
Average tangible equity	$ 721,516	$ 717,667	$ 642,062

Return on average stockholders’ equity ratio:
Annualized net income	$ 98,696	$ 107,135	$ 118,986
Average stockholders’ equity	$ 1,122,860	$ 1,120,597	$ 1,052,781

Return on average stockholders’ equity	8.79 %	9.56 %	11.30 %

Return on average tangible equity ratio:
Annualized net income excluding amortization of other intangible assets	$ 105,785	$ 115,934	$ 127,847
Average tangible equity	$ 721,516	$ 717,667	$ 642,062

Return on average tangible equity	14.66 %	16.15 %	19.91 %

(a) Tax effect is calculated using a 21% statutory federal corporate income tax rate.

View original content:https://www.prnewswire.com/news-releases/peoples-bancorp-inc-announces-first-quarter-2025-results-302433615.html

SOURCE Peoples Bancorp Inc.

April 22, 2025 6:05 am

Synchrony Reports First Quarter 2025 Results; Company also Announces Quarterly Common Stock Dividend of $0.30 Per Share and Approval of a $2.5 Billion Share Repurchase Program

PR Newswire

Company also declares preferred stock dividends

STAMFORD, Conn.
, April 22, 2025 /PRNewswire/ — Synchrony Financial (NYSE: SYF) today announced first quarter 2025 results for the period ending March 31, 2025. The Earnings Release and presentation can be found on the company’s Investor Relations website at https://investors.synchrony.com/financial-information/financial-results.

Today at 8:00 a.m. Eastern Time, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain business drivers. The conference call can be accessed via an audio webcast through the Investor Relations website at www.investors.synchrony.com, under Events and Presentations. A replay will also be available on the website.

The Company also announced that its Board of Directors (the “Board”) declared a quarterly cash dividend of $0.30 per share of common stock, a 20% increase to the quarterly common stock dividend. The dividend is payable on May 15, 2025 to holders of record at the close of business on May 5, 2025. The Board also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”) and 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”). Each outstanding share of the Series A Preferred Stock and Series B Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share. The dividends of approximately $14.06 per share on the Series A Preferred Stock (equivalent to $0.351563 per outstanding depositary share) and approximately $20.63 per share on the Series B Preferred Stock (equivalent to $0.515625 per outstanding depositary share) are payable on May 15, 2025 to holders of record at the close of business on May 5, 2025.

Additionally, the Company announced that the Board approved a share repurchase program of up to $2.5 billion, commencing in the second quarter of 2025 through June 30, 2026. As of March 31, 2025, the Company had completed its prior share repurchase program.

About Synchrony
Synchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country’s most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country’s #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit www.synchrony.com.

Contact
Investor Relations
Kathryn Miller
(203) 585-6291
[email protected]

Media Relations
Tyler Allen
(551) 370-2902
[email protected]

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SOURCE Synchrony Financial

April 22, 2025 6:05 am

HUYA Inc. to Report First Quarter 2025 Financial Results on Tuesday, May 13, 2025

PR Newswire

-Earnings Webinar Scheduled for 8:00 a.m. ET on May 13, 2025–

GUANGZHOU, China
, April 22, 2025 /PRNewswire/ — HUYA Inc. (“Huya” or the “Company”) (NYSE: HUYA), a leading game live streaming platform in China, today announced that it will report its first quarter 2025 unaudited financial results on Tuesday, May 13, 2025, before the open of U.S. markets.

The Company’s management will host a Tencent Meeting Webinar at 8:00 a.m. U.S. Eastern Time on May 13, 2025 (8:00 p.m.Beijing/Hong Kong time on May 13, 2025), to review and discuss the Company’s business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration

Chinese Mainland^[1]:	https://meeting.tencent.com/dw/ETSDHTEFiC2G
International:	https://voovmeeting.com/dw/ETSDHTEFiC2G

A live webcast of the webinar will be accessible at https://ir.huya.com, and a replay of the webcast will be available following the session.

[1] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People’s Republic of China, and Taiwan.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China. As a technology-driven company, Huya offers rich and dynamic content across games, e-sports, and other entertainment genres where it has cultivated a large, highly engaged, interactive, immersive community of game enthusiasts. Building on its success in game live streaming and through close collaboration with game companies, e-sports tournament organizers, broadcasters and talent agencies, Huya is expanding its presence in the game industry, both domestically and internationally. By providing more innovative game-related services, the Company is committed to meeting the evolving needs of game enthusiasts, content creators, and industry partners.

For more information, please visit: https://ir.huya.com.

For investor and media inquiries, please contact:

In China:

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: [email protected]

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: [email protected]

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

View original content:https://www.prnewswire.com/news-releases/huya-inc-to-report-first-quarter-2025-financial-results-on-tuesday-may-13-2025-302434234.html

SOURCE HUYA Inc.

April 22, 2025 6:05 am

DXC Announces AI Workbench; Ferrovial to Serve as Anchor Client

PR Newswire

DXC’s AI Workbench combines industry and AI expertise to scale outcomes for global customers

ASHBURN, Va.
, April 22, 2025 /PRNewswire/ – DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, introduced today DXC AI Workbench, a generative AI offering which combines consulting, engineering, and secure enterprise services to help businesses worldwide integrate and scale responsible AI into their operations. Ferrovial (NASDAQ: FER), a leading global infrastructure company, is already using AI Workbench to enhance operations for its 24,000 employees. With more than 30 AI agents making real-time decisions, Ferrovial is improving efficiency and safety measures across its business.

DXC helps clients across industries find scalable solutions to meet their unique challenges, so they can move fast. With its new AI Workbench offering, DXC is delivering a pre-built scalable solution with necessary safeguards and governance for secure deployment.

“AI isn’t a plug-and-play solution—leveraging GenAI securely and in compliance with regulations requires human due diligence, customization, and the right skill sets,” said Howard Boville, President, DXC Consulting & Engineering Services – Powered by AI. “We’re helping clients, such as Ferrovial, build and implement AI solutions throughout their operations to drive outcomes at scale and unlock opportunities to innovate.“

“By working with DXC, we’ve unlocked new levels of operational efficiency and reduced risks,” said Dimitris Bountolos, Chief Information and Innovation Officer (CIIO) of Ferrovial. “The ability to integrate AI into our core business processes has revolutionized how we reduce operational costs, manage knowledge, and make decisions, providing us with a competitive edge in the industry.”

Ferrovial is leveraging DXC’s industry and AI expertise to build and deploy AI-powered solutions across a wide range of business functions. With over 30 specialized AI agents deployed on a cloud-based AI platform running on Microsoft Azure, Ferrovial is now able to optimize field operations, elevate safety measures, manage business knowledge, analyze competition, and assess regulatory impacts. The platform’s seamless integration with Ferrovial’s back-office systems, such as Workday, ServiceNow, Microsoft Teams, and Ferrovial’s custom apps, has accelerated automation and data-driven decision-making across its global operations.

With deep industry expertise, DXC is uniquely positioned to help organizations adopt and scale AI solutions to drive real business outcomes.

For more on DXC Consulting & Engineering Services, visit here.

About DXC Technology

DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private, and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.

About Ferrovial

Ferrovial is one of the world’s leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 25,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of Spain’s blue-chip IBEX 35 index. It is also included in globally recognised sustainability indices such as the Dow Jones Best in Class Index (former Dow Jones Sustainability Index), and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dxc-announces-ai-workbench-ferrovial-to-serve-as-anchor-client-302431883.html

SOURCE DXC Technology Company

April 22, 2025 6:04 am

Corsair Gaming to Report First Quarter 2025 Financial Results on May 6

Corsair Gaming to Report First Quarter 2025 Financial Results on May 6

MILPITAS, Calif.–(BUSINESS WIRE)–
Corsair Gaming, Inc. (Nasdaq: CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, today announced it will release its first quarter 2025 results and financial outlook after the Nasdaq close on Tuesday, May 6, 2025, with its management hosting a conference call to discuss results at 2:00 p.m. Pacific Time that same day.

The 2:00 p.m. Pacific Time conference call will be accessible on Corsair’s Investor Relations website at https://ir.corsair.com, or by dialing 1-844-676-2245 (USA) or 1-412-634-6652 (International) with conference ID 10198678. A replay will be available approximately 3 hours after the live call ends on Corsair’s Investor Relations website, or through May 13, 2025 by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International), with passcode 10198678.

About Corsair Gaming

Corsair (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance products and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best. Corsair also sells products under its Fanatec brand, the leading end-to-end premium Sim Racing product line; Elgato brand, which provides premium studio equipment and accessories for content creators; SCUF Gaming brand, which builds custom-designed controllers for competitive gamers; Drop, the leading community-driven mechanical keyboard brand; and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250422047023/en/

Investor Relations Contact:

Ronald van Veen

[email protected]

510-578-1407

Media Contact:

Timothy Biba

[email protected]

203-428-3222

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Entertainment Consumer Electronics Technology Audio/Video Software Electronic Games Hardware

MEDIA:

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April 22, 2025 6:04 am

Personalis and Academic Partners to Present Latest Data on Ultrasensitive ctDNA Test for Residual Cancer and Recurrence Detection

Personalis and Academic Partners to Present Latest Data on Ultrasensitive ctDNA Test for Residual Cancer and Recurrence Detection

FREMONT, Calif.–(BUSINESS WIRE)–Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, announced today that two oral presentations and a poster presentation featuring data for the company’s NeXT Personal^® ultrasensitive ctDNA assay for residual and recurrent cancer detection will be presented at the American Association for Cancer Research (AACR) Annual Meeting April 25-30, 2025 in Chicago, Illinois.

“Our collaborators are excited to present new data, including initial results from the VICTORI study where NeXT Personal is being used to identify residual and recurrent colorectal cancer in patients. With a more sensitive test, our goal is to improve patient outcomes by finding and treating colorectal cancer recurrence earlier. We are also thrilled that NeXT Personal results from the TRACERx collaboration, one of the largest ctDNA studies in early-stage lung cancer, will be presented at the meeting,” said Dr. Richard Chen, Chief Medical Officer and Executive Vice President, R&D at Personalis.

The two oral presentations are:

Oral Presentation: Detection of post-surgical minimal residual disease (MRD) in colorectal cancer; preliminary results from the VICTORI study

Time: April 28, 2025, 3:35 PM – 3:50 PM

Location: Room S105 – McCormick Place South (Level 1)

Presenter: Emma Titmuss, BC Cancer, Vancouver, BC, Canada

Oral Presentation: Ultrasensitive MRD detection: Results from TRACERx

Time: April 28, 2025, 12:35 PM – 12:55 PM

Location: Room S100 BC (Grand Ballroom BC) – McCormick Place South (Level 1)

Presenter: Charles Swanton, The Francis Crick Institute, London, United Kingdom

Additionally, a poster presentation detailing results from clinical NeXT Personal testing across >15 different cancer types will be presented:

Poster Presentation: Impact of an ultrasensitive ctDNA test on MRD detection in real world clinical patient testing

Time: April 29, 2025, 9:00 AM – 12:00 PM

Location: Section 29, poster 4549

Presenter: Rachel Marty Pyke, Personalis, Inc., Fremont, CA

About Personalis, Inc.

At Personalis, we are transforming the active management of cancer through breakthrough personalized testing. We aim to drive a new paradigm for cancer management, guiding care throughout the patient journey. Our highly sensitive assays combine tumor-and-normal profiling with proprietary algorithms to deliver advanced insights even as cancer evolves over time. Our products are designed to detect minimal residual disease (MRD) and recurrence at the earliest timepoints, enable selection of targeted therapies based on ultra-comprehensive genomic profiling, and enhance biomarker strategy for drug development. Personalis is based in Fremont, California. To learn more, visit www.personalis.com and connect with us on LinkedIn and X (Twitter).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical are “forward-looking statements” within the meaning of U.S. securities laws, including statements relating to the attributes, advantages, sensitivity, clinical relevance or importance of the NeXT Personal test. Such forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements, including the risks, uncertainties and other factors that relate to the ability of NeXT Personal to detect small traces of ctDNA, detect residual or recurrent cancer early (including detection earlier than standard of care imaging), monitor a patient’s response to therapy, accurately predict clinical outcomes for cancer patients, or impact cancer care or management (including for escalation or de-escalation of treatment), or to the clinical adoption or use of, or the ability of Personalis to obtain Medicare coverage or reimbursement for, the NeXT Personal test, or to the sufficiency of the publication and study results described in this press release to support such adoption, use, coverage or reimbursement. These and other potential risks and uncertainties that could cause actual results to differ materially from the results predicted in these forward-looking statements are described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Personalis’ Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (SEC) on February 27, 2025. All information provided in this release is as of the date of this press release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Personalis undertakes no duty to update this information unless required by law.

Not affiliated with or endorsed by AACR.

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KEYWORDS: United States North America California Illinois

INDUSTRY KEYWORDS: Oncology Health Genetics Clinical Trials Research Science

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