Finance Archives - CorporatePRwire

Blockchain is booming again, and ETH and XRP holders are using AWG Crypto to supplement their income.

CorporatePRwire — Wed, 06 Aug 2025 10:09:06 +0000

Cardiff, Wales / CorporatePRwire / August 4, 2025 / AWG Crypto, a global leader in blockchain financial innovation, today officially announced the launch of its next-generation mobile cloud mining app, enabling users worldwide to embark on a journey of earning passive income from digital currencies without the need for mining equipment or technical expertise – all with just a smartphone.

Breaking down barriers and ushering in an era of mobile mining for all.
In the rapidly evolving digital economy, traditional cryptocurrency mining faces challenges due to high costs and high technical barriers. AWG Crypto addresses these challenges by cloudifying the mining process, eliminating the need for hardware investment and equipment maintenance, and enabling users to participate in mining anytime, anywhere.
This mobile-first cloud mining platform, with its intuitive interface and deep integration with blockchain technology, redefines how cryptocurrencies are used and invested, bringing mining mainstream.

Core Features

Fully Automated Cloud Mining: Once the contract is activated, mining will proceed automatically without any manual intervention.
Multi-Currency Profit Settlement: Supports BTC, ETH, XRP, DOGE, SOL, LTC, BCH, USDT, USDC, and more.
Eco-Friendly Computing Power: All cloud mining is powered by renewable energy, reducing our carbon footprint.
Bank-Grade Security: Integrated with McAfee® and Cloudflare® security systems.
Global Support: Service coverage in over 195 countries, with 24/7 multilingual customer service.

How to get started: Start earning money in just three easy steps.

Register:Sign up now to receive a $12 welcome bonus, plus a $0.60 daily login bonus.
Select Contract:Choose a mining plan that fits your budget and financial goals. AWG Crypto offers solutions for both beginners and advanced investors.(Click here to view more contract details)
Start earning:Once your contract is activated, AWG Crypto’s intelligent platform will do the rest – ensuring seamless, efficient mining operations to maximize your earnings.

Stable USD-pegged contracts with the flexibility of cryptocurrencies.
Although priced in USD for stability, users can deposit using top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Tether (USDT – ERC20 and TRC20), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), and Solana (SOL).
All deposits are instantly converted to USD, protecting investments from cryptocurrency price fluctuations. Withdrawals are converted to the user’s selected cryptocurrency, mitigating the risk of market volatility.

A Smart Mining Tool for Everyone

AWG Crypto’s mobile mining service is designed for global users from all backgrounds:

Newcomers to the cryptocurrency space
Professionals and freelancers seeking additional passive income
Students and young people looking to build digital assets
Home users and stay-at-home parents seeking a low-risk side hustle
Retirees seeking a low-maintenance investment option
Whether you’re a short-term prospector or a long-term investor, AWG Crypto offers a secure, convenient, and sustainable way to grow your assets.

About AWG Crypto
AWG Crypto is a global blockchain cloud mining platform dedicated to removing technical and financial barriers to cryptocurrency investment through convenient, eco-friendly, and fully automated mining solutions, enabling users worldwide to easily participate in the digital economy.
Join the new era of digital assets and transform your smartphone into a next-generation portable mining rig!

Visit https://awgcrypto.com to start your mobile mining journey now.

The post Blockchain is booming again, and ETH and XRP holders are using AWG Crypto to supplement their income. appeared first on CorporatePRwire.

First Commerce Bancorp, Inc. Reports Second Quarter and Year-to-Date 2025 Results

CorporatePRwire — Tue, 29 Jul 2025 19:17:18 +0000

First Commerce Bancorp, Inc. Reports Second Quarter and Year-to-Date 2025 Results

Lakewood, N.J./ July 29, 2025 / CorporatePRwire / First Commerce Bancorp, Inc. (the “Company”), (OTC: CMRB), the holding company for First Commerce Bank (the “Bank”), today reported net income of $1.3 million and $3.0 million for the three and six months ended June 30, 2025, respectively, as compared to $1.1 million and $2.2 million for the three and six months ended June 30, 2024, respectively. Basic earnings per common share for the three and six months ended June 30, 2025, were $0.07 and $0.15, respectively, compared to $0.05 and $0.10 for the three and six months ended June 30, 2024, respectively.

President & CEO Donald Mindiak commented, “We are encouraged by the balance sheet growth that we have achieved through the first six months of the year. Prudent loan underwriting, coupled with systematic investment portfolio activity has spearheaded growth in the loan portfolio of $137.1 million or 11.1% and $67.7 million or 60.4% growth in the investment portfolio during the semi-annual period ended June 30, 2025, while continuing to manage our liquidity and allowance levels at prudent levels. Funding for this growth has occurred through a combination of retail deposit growth as well as the usage of several wholesale funding sources. Since a material portion of the loan growth occurred late in the second quarter, we anticipate that the full operational effect of that growth will manifest itself in the operating statement through the balance of 2025. We are heartened by the incremental improvement of our profitability metrics and anticipate continued improvement through the end of the year. With a strong loan pipeline having solid credits at attractive spreads, we will continue to employ disciplined credit-risk management practices and conservative underwriting standards. Our goals remain steadfast in delivering exceptional customer service and growing franchise and shareholder value.”

Continuing, Mr. Mindiak remarked that, “Last quarter we reported that one large loan of $21.0 million was placed on non-accrual. We are pleased to report that this loan was successfully resolved in the second quarter, thereby improving our asset quality in the quarter. While a degree of uncertainty still exists due to the implementation of tariffs, as a community bank we have not seen any adverse effect on our credit quality.”

Financial Highlights

●

Total interest income increased by $1.9 million or 9.8% for the second quarter of 2025 compared to the second quarter of 2024 as a result of the growth in average interest-earning assets year over year.

●

Total interest expense increased by $648,000 or 5.7% for the second quarter of 2025 compared to the second quarter of 2024 as a result of the growth in interest-bearing liabilities.

●

Total loans increased by $137.1 million or 11.1% to $1.38 billion at June 30, 2025, compared to $1.24 billion at December 31, 2024.

●

Total deposits increased by $72.4 million or 6.2% to $1.25 billion at June 30, 2025, compared to $1.17 billion at December 31, 2024.

●

The annualized return on average total assets increased by three basis points to 0.33% at June 30, 2025, compared to 0.30% at June 30, 2024.

●

The annualized return on average shareholders’ equity increased by sixty-three basis points to 3.10% at June 30, 2025, compared to 2.47% at June 30, 2024.

●

Book value per common share increased by $0.32 to $8.51 at June 30, 2025, compared to $8.19 at June 30, 2024.

●

Net interest margin increased fourteen basis points on a linked quarter basis to 2.47% as of June 30, 2025, from 2.33% as of March 31, 2025, and increased nine basis points from 2.38% at June 30, 2024.

Balance Sheet Review

Total assets increased by $138.5 million or 8.9% to $1.69 billion at June 30, 2025, from $1.55 billion at December 31, 2024. The increase in total assets was primarily related to increases in total investment securities and total loans receivable, partially offset by a decrease in cash and cash equivalents during the six months ended June 30, 2025.

Total cash and cash equivalents decreased by $64.9 million or 49.0% to $67.6 million at June 30, 2025, from $132.5 million at December 31, 2024. This decrease was primarily due to funding of loan closings and the purchases of investment securities during the six months ended June 30, 2025.

Total investment securities increased by $67.7 million or 60.4% to $179.9 million at June 30, 2025, from $112.2 million at December 31, 2024. The increase in investment securities resulted primarily from $77.9 million in purchases of investment securities, partially offset by $1.3 million in redemptions and $8.9 million in investment securities amortization.

Total loans receivable, net of allowance for credit losses increased by $136.6 million or 11.2% to $1.36 billion at June 30, 2025, from $1.22 billion at December 31, 2024. Commercial mortgage loans, and construction loans increased $120.1 million and $23.3 million, respectively, partially offset by decreases in commercial loans, residential loans and home equity loans of $1.0 million, $3.6 million and $2.3 million, respectively. The allowance for credit losses increased by $464,000 to $15.2 million or 1.11% of gross loans at June 30, 2025, as compared to $14.8 million or 1.19% of gross loans at December 31, 2024.

Total deposits increased $72.4 million or 6.2% to $1.25 billion at June 30, 2025, from $1.17 billion at December 31, 2024. Within the components of total deposits, time deposits increased $49.3 million, savings deposits increased $21.1 million, NOW deposits increased $6.5 million, and non-interest-bearing demand deposits increased $13.9 million, partially offset by a decrease of $18.4 million in money market account deposits. As an augmentation to deposit growth, Federal Home Loan Bank advances increased by $62.5 million or 35.7% to $237.5 million at June 30, 2025 from $175.0 million at December 31, 2024 which assisted in the facilitation of the loan growth discussed previously.

Stockholders’ equity decreased by $1.3 million or 0.7% to $171.0 million at June 30, 2025, from $172.3 million at December 31, 2024. The decrease in stockholders’ equity was primarily due to $5.7 million in repurchases of common stock, offset by increases of $3.0 million in retained earnings and $1.6 million in additional paid-in-capital. During the six months ended June 30, 2025, the Company repurchased 904,000 shares for approximately $5.6 million, or a weighted average price of approximately $6.23 per share.

Three Months of Operations

Net interest income increased by $1.3 million or 15.6% to $9.6 million for the three months ended June 30, 2025, from $8.3 million for the three months ended June 30, 2024. The increase in net interest income was primarily due to an increase in total interest income of $1.9 million as a result of an increase in average interest earning assets, partially offset by an increase in total interest expense of $648,000 as a result of an increase in average interest-bearing liabilities.

Total interest income increased by $1.9 million or 9.8% to $21.7 million for the three months ended June 30, 2025, from $19.8 million for the three months ended June 30, 2024. Interest income on loans, including fees, increased $462,000 or 2.6% to $18.4 million for the three months ended June 30, 2025, as compared to $18.0 million for the three months ended June 30, 2024. The increase in interest income on loans, including fees, resulted primarily from an increase in the average balance of loans receivable of $42.9 million or 3.4% to $1.29 billion for the three months ended June 30, 2025, as compared to $1.25 billion for the three months ended June 30, 2024. Average yield on loans receivable was 5.71% for the three months ended June 30, 2025, decreasing seven basis points year over year. Interest income on investment securities increased by $1.6 million or 224.4% to $2.3 million for the three months ended June 30, 2025, as compared to $712,000 for the same period in the prior year, as a result of purchasing and replacing paydowns of investment securities with higher yielding investment securities. The average balance of investment securities portfolio increased by $103.3 million or 134.7% to $180.0 million for the three months ended June 30, 2025, as compared to $76.7 million for the same period in the prior year. The average yield on investment securities increased by 142 basis points to 5.13% for the three months ended June 30, 2025, as compared to 3.71% for the same period in the prior year. Interest income on interest-bearing deposits with other banks decreased by $117,000 or 12.3% to $828,000 for the three months ended June 30, 2025, as compared to $945,000 for the same period in the prior year. This decrease resulted primarily from a decline in average yield of eighty-four basis points to 4.19% for the three months ended June 30, 2025, as compared to 5.03% for the same period in the prior year. The average balance of interest-bearing deposits with banks increased by $3.8 million or 5.1% to $79.3 million for the three months ended June 30, 2025, as compared to $75.5 million for the same period in the prior year.

Total interest expense increased by $648,000 or 5.7% to $12.1 million for the three months ended June 30, 2025, from $11.5 million for the three months ended June 30, 2024. The increase in interest expense occurred primarily as a result of an increase in average balance of interest-bearing liabilities of $138.1 million or 12.4%, to $1.25 billion for the three months ended June 30, 2025, from $1.12 billion for the three months ended June 30, 2024. Despite the increase in average balance of interest-bearing liabilities, the average cost of interest-bearing liabilities decreased to 3.87% for the three months ended June 30, 2025, as compared to 4.12% for the three months ended June 30, 2024. The increase in average balance of interest-bearing liabilities included a $85.5 million increase in average interest-bearing deposit liabilities and a $52.6 million increase in average wholesale borrowings for the three months ended June 30, 2025. The increase in interest-bearing liabilities was primarily used to facilitate asset growth and maintain an increased level of liquidity consistent with regulatory guidance.

During the second quarter of 2025, the Company recorded a $712,000 provision for credit losses as compared to a $300,000 provision for credit losses for the same period in the prior year. The increase in provision for credit losses for the second quarter of 2025, was primarily due to the increase in gross loans and management’s evaluation of both quantitative and qualitative factors which impact the CECL model calculations. The Company recorded a $401,000 provision for credit losses on loans, a $271,000 provision for credit losses for unfunded commitments and a $40,000 provision for credit losses on corporate securities held-to-maturity. Management believes that the allowance for credit losses on loans and investment securities at June 30, 2025, and 2024 were appropriate.

Net interest margin increased by nine basis points to 2.47% for the three months ended June 30, 2025, compared to 2.38% for the three months ended June 30, 2024. The increase in the net interest margin was primarily due to a decrease in the average cost of interest-bearing liabilities to 3.87% for the three months ended June 30, 2025 from 4.12% for the three months ended June 30, 2024, partially offset by a slight decrease in the yield on average earning assets of six basis points to 5.58% for the three months ended June 30, 2025 from 5.64% for the three months ended June 30, 2024.

Non-interest income increased by $24,000 or 4.3% to $586,000 for the three months ended June 30, 2025, from $562,000 for the three months ended June 30, 2024. The increase in total non-interest income resulted primarily from an increase in service charges and fees of $60,000, partially offset by a decrease of $44,000 in other income.

Non-interest expense increased by $576,000 or 8.0% to $7.8 million for the three months ended June 30, 2025, compared to $7.2 million for the three months ended June 30, 2024. Salaries and employee benefits increased by $194,000 or 4.3% to $4.7 million for the three months ended June 30, 2025, as compared to $4.5 million for the three months ended June 30, 2024. The increase in salaries and employee benefits resulted primarily due to a slight increase in headcount necessary to assist in the growth of the Bank and annual merit increases, partially offset by a decrease in health insurance costs year over year. Occupancy and equipment expense increased by $171,000 or 18.7% to $1.1 million for the three months ended June 30, 2025, as compared to $913,000 for the three months ended June 30, 2024, primarily due to additional lease expense related to the Company leasing additional office space to relocate its corporate offices. Advertising and marketing expense decreased by $38,000 or 34.5% to $74,000 for the three months ended June 30, 2025, as compared to $112,000 for the three months ended June 30, 2024, as a result of reduction in marketing consultant services. Professional fees decreased $47,000 or 9.7% to $427,000 for the three months ended June 30, 2025 as compared to $474,000 for the three months ended June 30, 2024 , primarily due to a reduction in audit and consulting fees. Data processing expense increased by $33,000 or 10.9% to $333,000 for the three months ended June 30, 2025, compared to $300,000 for the three months ended June 30, 2024, primarily as a result of adding new services and annual cost increases. FDIC insurance assessment increased $92,000 or 52.6% to $267,000, for the three months ended June 30, 2025, from $175,000 for the three months ended June 30, 2024, as a result of an increase in the assessment rate. Other operating expenses increased by $171,000 or 22.2% to $940,000 for the three months ended June 30, 2025, from $769,000 for the three months ended June 30, 2024, primarily due to increases in various components of other operating expenses. Other operating expenses are primarily comprised of loan related expenses, dues and subscriptions, digital banking expenses, sponsorships, training and education, postage, meals and entertainment, software maintenance and depreciation, and miscellaneous expenses. Management’s focus continues to remain on prudently managing its operating expenses, while executing on our organic growth initiative.

The income tax provision increased by $98,000 or 33.9% to $385,000 for the three months ended June 30, 2025, from $287,000 for the three months ended June 30, 2024. The increase in the income tax provision resulted primarily from an increase in the pre-tax income year over year of $334,000 or 24.3% to $1.7 million for the three months ended June 30, 2025 from $1.4 million for the three months ended June 30, 2024. The effective tax rate for the quarter ended June 30, 2025, was 22.5% compared to 20.9% for the quarter ended June 30, 2024. The effective tax yield for the quarter ended June 30, 2024, was impacted by a reduction in New York state tax apportionment.

Six Months of Operations

Net interest income increased by $1.7 million or 10.1% to $18.3 million for the six months ended June 30, 2025, from $16.6 million for the six months ended June 30, 2024. The increase in net interest income was primarily due to an increase in total interest income of $3.4 million as a result of an increase in average interest earning assets, partially offset by an increase in total interest expense of $1.7 million as a result of an increase in average interest-bearing liabilities.

Total interest income increased by $3.4 million or 8.6% to $42.2 million for the six months ended June 30, 2025, from $38.8 million for the six months ended June 30, 2024. Interest income on loans, including fees, increased $172,000 or 0.5% to $35.8 million for the six months ended June 30, 2025, as compared to $35.6 million for the six months ended June 30, 2024. The increase in interest income on loans, including fees, resulted primarily from an increase in the average balance of loans receivable of $16.7 million or 1.3% to $1.27 billion for the six months ended June 30, 2025, as compared to $1.25 billion for the six months ended June 30, 2024. Average yield on loans receivable was 5.69% for the six months ended June 30, 2025, a decrease of three basis points year over year. Interest income on interest-bearing deposits with other banks increased by $222,000 or 13.9% to $1.8 million for the six months ended June 30, 2025, as compared to $1.6 million for the same period in the prior year. This increase resulted from a higher average balance of interest-bearing deposits with banks of $23.7 million or 36.6% to $88.5 million for the six months ended June 30, 2025, as compared to $64.8 million for the same period in the prior year. Interest income on investment securities increased by $2.9 million or 227.1% to $4.2 million for the six months ended June 30, 2025, as compared to $1.3 million for the same period in the prior year, as a result of purchasing and replacing paydowns of investment securities with higher yielding investment securities. The average balance of the investment securities portfolio increased by $92.7 million or 126.5% to $165.9 million for the six months ended June 30, 2025, as compared to $73.2 million for the same period in the prior year. The average yield on investment securities increased by 154 basis points to 5.02% for the six months ended June 30, 2025, as compared to 3.48% for the same period in the prior year. Dividend income on FHLB stock increased by $66,000 or 19.4% to $406,000 for the six months ended June 30, 2025, as compared to $340,000 for the same period in the prior year, primarily as a result of an increase in average balance of restricted stock of $2.0 million or 25.1% to $10.2 million for the six months ended June 30, 2025, as compared to $8.1 million for the same period in the prior year.

Total interest expense increased by $1.7 million or 7.5% to $23.9 million for the six months ended June 30, 2025, from $22.3 million for the six months ended June 30, 2024. The increase in interest expense occurred primarily as a result of an increase in average balance of interest-bearing liabilities of $128.5 million or 11.7%, to $1.23 billion for the six months ended June 30, 2025, from $1.10 billion for the six months ended June 30, 2024. Despite the increase in the average balance of interest-bearing liabilities, the average cost of interest-bearing liabilities decreased to 3.93% for the six months ended June 30, 2025, as compared to 4.07% for the six months ended June 30, 2024. The increase in average balance of interest-bearing liabilities included an $85.5 million increase in average interest-bearing deposit liabilities and a $43.0 million increase in average wholesale borrowings for the six months ended June 30, 2025. The increase in interest-bearing liabilities was primarily used to maintain an increased level of liquidity consistent with regulatory guidance and support the loan growth.

During the six months ended June 30, 2025, the Company recorded $795,000 provision for credit losses as compared to $308,000 provision for credit losses for the same period in the prior year. Based on the results of the CECL model and management’s evaluation of both quantitative and qualitative factors as well as the loan growth for the six months ended June 30, 2025, the Company recorded a provision for loan losses of $414,000 on loans, a $290,000 provision for credit losses for unfunded commitments and a $91,000 provision for credit losses on corporate securities held-to-maturity. Based upon the aforementioned analyses, management believes that the allowance for credit losses on loans and investment securities at June 30, 2025, and 2024 were appropriate.

Net interest margin for the six months ended June 30, 2025, was 2.40% compared to 2.39% for the six months ended June 30, 2024. The average yield on interest-earning assets declined 4 basis points to 5.55% for the six months ended June 30, 2025, as compared to 5.59% for the same period in the prior year. Average cost of interest-bearing liabilities declined fourteen basis points to 3.93% from 4.07% for the same period in the prior year, despite an increase in the average balance of interest-bearing liabilities of $128.5 million or 11.7% to $1.23 billion for the six months ended June 30, 2025, from $1.10 billion six months ended June 30, 2024.

Non-interest income increased by $895,000 or 82.5% to $2.0 million for the six months ended June 30, 2025, from $1.1 million for the six months ended June 30, 2024. The increase in total non-interest income resulted primarily from an increase in other income of $719,000 as a result of a non-recurring gain of $778,000 on the sale of a Company owned property recorded in the first quarter of 2025. Excluding this non-recurring gain, other income would have decreased $59,000 when compared to the same period in the prior year. Service charges and fees increased by $162,000 or 38.6% to $582,000 for the six months ended June 30, 2025, from $420,000 for the same period in the prior year, primarily due to an increase in loan fees of $56,000 and an increase in deposit accounts fees of $102,000.

Non-interest expense increased by $1.2 million or 8.4% to $15.7 million for the six months ended June 30, 2025, compared to $14.4 million for the six months ended June 30, 2024. Salaries and employee benefits increased by $432,000 or 4.8% to $9.4 million for the six months ended June 30, 2025, as compared to $9.0 million for the six months ended June 30, 2024. The increase in salaries and employee benefits resulted primarily due to a slight increase in headcount necessary to assist in the growth of the Bank and annual merit increases, partially offset by a decrease in health insurance costs year over year. Occupancy and equipment expense increased by $416,000 or 22.8% to $2.2 million for the six months ended June 30, 2025, as compared to $1.8 million for the six months ended June 30, 2024, primarily due to additional lease expense related to the Company leasing additional office space to relocate its corporate offices. Advertising and marketing expense decreased by $61,000 or 32.2% to $129,000 for the six months ended June 30, 2025, as compared to $190,000 for the six months ended June 30, 2024, as a result of reduction in marketing consultant services. Data processing expense increased by $90,000 or 15.4% to $675,000 for the six months ended June 30, 2025, compared to $585,000 for the six months ended June 30, 2024, primarily as a result of adding new services and annual cost increases. FDIC insurance assessment increased $118,000 or 31.9% to $488,000 for the six months ended June 30, 2025, from $370,000 for the six months ended June 30, 2024, as a result of an increase in the assessment rate. Other operating expenses increased by $253,000 or 16.6% to $1.8 million for the six months ended June 30, 2025, from $1.5 million for the six months ended June 30, 2024, primarily due to minor increases in various components of other operating expenses. Other operating expenses are primarily comprised of loan related expenses, communications, dues and subscriptions, digital banking expenses, sponsorships, training and education, postage, meals and entertainment, software maintenance and depreciation, and miscellaneous expenses. Management’s focus continues to remain on prudently managing its operating expenses while executing on our organic growth initiative.

The income tax provision increased by $120,000 or 17.9% to $788,000 for the six months ended June 30, 2025, from $668,000 for the six months ended June 30, 2024. This increase in the income tax provision resulted primarily from an increase in the pre-tax income of $873,000 or 30.0% to $3.8 million for the six months ended June 30, 2025 from $2.9 million for the six months ended June 30, 2024 year over year. In addition, the effective tax yield declined year over year as a result of a reduction in New York state tax apportionment. The effective tax rate for the six months ended June 30, 2025, was 20.8% compared to 22.9% for the same period in the prior year.

Asset Quality

The allowance for credit losses increased by $464,000 or 3.1% to $15.2 million or 1.11% of gross loans at June 30, 2025, as compared to $14.8 million or 1.19% of gross loans at December 31, 2024, and $14.9 million or 1.18% at June 30, 2024. During the first six months of 2025, the Company added a $414,000 provision to the allowance for credit losses and had net recoveries of $50,000. Based on the results of the CECL model and management’s evaluation of both quantitative and qualitative factors during the six months ended June 30, 2025, changes in the allowance for credit losses were adjusted accordingly.

The Bank had non-accrual loans totaling $17.9 million or 1.30% of gross loans at June 30, 2025, as compared to $16.6 million or 1.34% of gross loans at December 31, 2024, and $37.9 million or 3.02% of gross loans at March 31, 2025. Non-accrual loans decreased by $20.0 million from March 31, 2025, as a result of one commercial real estate loan in the amount of approximately $21.0 million which was resolved and placed on accrual status during the second quarter of 2025. The allowance for credit losses was 85.0% of non-accrual loans at June 30, 2025, compared to 88.7%, at December 31, 2024, and 39.1% at March 31, 2025.

About First Commerce Bancorp, Inc.

First Commerce Bancorp, Inc, is a financial services organization headquartered in Lakewood, New Jersey. The Bank, the Company’s wholly owned subsidiary, provides businesses and individuals a wide range of loans, deposit products and retail and commercial banking services through its branch network located in Allentown, Bordentown, Closter, Englewood, Fairfield, Freehold, Jackson, Lakewood, Robbinsville and Teaneck, New Jersey. For more information, please go to www.firstcommercebk.com.

Forward-Looking Statements

This release, like many written and oral communications presented by First Commerce Bancorp Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.

In addition to the factors previously disclosed in prior Company communications and those identified elsewhere, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the impact of changes in interest rates and in the credit quality and strength of underlying collateral and the effect of such changes on the market value of First Commerce Bank’s investment securities portfolio; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which First Commerce Bank operates and in which its loans are concentrated, including the effects of declines in housing market values; inflation; customer acceptance of the Bank’s products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with certain corporate initiatives; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and actions of governmental agencies and legislative and regulatory actions and reforms.

First Commerce Bancorp, Inc.

Consolidated Statements of Financial Condition

(Unaudited)

							June 30, 2025 vs.
							December 31, 2024
*(dollars in thousands, except percentages and share data)*	June 30, 2025			December 31, 2024			Amount			%
Assets
Cash and cash equivalents:
Cash on hand	$	2,354		$	1,790		$	564			31.5	%
Interest-bearing deposits in other banks		65,272			130,690			(65,418	)		-50.1	%
Total cash and cash equivalents		67,626			132,480			(64,854	)		-49.0	%
Investment securities:
Available-for-sale, at fair value		26,605			300			26,305			8770.5	%
Held-to-maturity (“HTM”), at amortized cost		153,614			112,107			41,507			37.0	%
Less: Allowance for credit losses – HTM securities		(290	)		(198	)		(92	)		46.2	%
Held-to-maturity, net of allowance for credit losses		153,324			111,909			41,415			37.0	%
Total investment securities		179,929			112,209			67,720			60.4	%
Restricted stock		12,204			9,348			2,856			30.5	%
Loans receivable		1,376,116			1,239,031			137,085			11.1	%
Less: Allowance for credit losses		(15,220	)		(14,756	)		(464	)		3.1	%
Net loans receivable		1,360,896			1,224,275			136,621			11.2	%
Premises and equipment, net		10,452			17,059			(6,607	)		-38.7	%
Right-of-use asset		17,583			16,085			1,498			9.3	%
Accrued interest receivable		6,645			5,829			816			14.0	%
Bank owned life insurance		27,196			26,711			485			1.8	%
Deferred tax asset, net		3,283			3,076			207			6.7	%
Other assets		3,828			4,053			(225	)		-5.5	%
Total assets	$	1,689,642		$	1,551,125		$	138,517			8.9	%
Liabilities and Stockholders’ Equity
Liabilities
Deposits:
Non-interest bearing	$	171,617		$	157,684		$	13,933			8.8	%
Interest-bearing		1,075,741			1,017,254			58,487			5.7	%
Total Deposits		1,247,358			1,174,938			72,420			6.2	%
Borrowings		237,500			175,000			62,500			35.7	%
Accrued interest payable		1,918			1,913			5			0.3	%
Lease liability		18,982			16,773			2,209			13.2	%
Other liabilities		12,884			10,232			2,652			25.9	%
Total liabilities		1,518,642			1,378,856			139,786			10.1	%
Commitments and contingencies		–			–			–			–
Stockholders’ equity
Preferred stock; authorized 5,000,000 shares; none issued		–			–			–			N/A
Common stock, par value of $0; 30,000,000 authorized		–			–			–			N/A
Additional paid-in capital		91,154			89,557			1,597			1.8	%
Retained earnings		107,963			104,965			2,998			2.9	%
Treasury stock		(27,925	)		(22,253	)		(5,672	)		25.5	%
Accumulated other comprehensive loss		(192	)		–			(192	)		N/A
Total stockholders’ equity		171,000			172,269			(1,269	)		-0.7	%
Total liabilities and stockholders’ equity	$	1,689,642		$	1,551,125		$	138,517			8.9	%

Shares issued		24,459,830			23,995,390
Shares outstanding		20,096,480			20,536,214
Treasury shares		4,363,350			3,459,176

First Commerce Bancorp, Inc.

Consolidated Statements of Income

For the three months ended June 30, 2025 and 2024

(Unaudited)

		Three Months Ended					Variance
*(dollars in thousands, except percentages and share data)*	June 30, 2025		June 30, 2024			Amount			%
Interest and Dividend Income
Loans, including fees	$	18,415	$	17,953		$	462			2.6	%
Investment securities:
Available-for-sale		414		64			350			548.5	%
Held-to-maturity		1,896		648			1,248			192.3	%
Interest-bearing deposits with other banks		828		945			(117	)		-12.3	%
Restricted stock dividends		186		183			3			1.7	%
Total interest and dividend income		21,739		19,793			1,946			9.8	%
Interest expense:
Deposits		9,842		9,539			303			3.2	%
Borrowings		2,257		1,912			345			18.0	%
Total interest expense		12,099		11,451			648			5.7	%
Net interest income		9,640		8,342			1,298			15.6	%
Provision for credit losses		401		260			141			54.4	%
Provision for (reversal of) unfunded commitments for credit losses		271		(5	)		276			-5344.8	%
Provision for credit losses – HTM securities		40		45			(5	)		-11.9	%
Total provision for credit losses		712		300			412			137.4	%
Net interest income after provision for (reversal of) credit losses		8,928		8,042			886			11.0	%
Non-interest Income:
Service charges and fees		289		229			60			26.3	%
Bank owned life insurance income		244		236			8			3.6	%
Other income		53		97			(44	)		-45.6	%
Total non-interest income		586		562			24			4.3	%
Non-Interest Expenses:
Salaries and employee benefits		4,681		4,487			194			4.3	%
Occupancy and equipment expense		1,084		913			171			18.7	%
Advertising and marketing		74		112			(38	)		-34.5	%
Professional fees		427		474			(47	)		-9.7	%
Data processing expense		333		300			33			10.9	%
FDIC insurance assessment		267		175			92			52.6	%
Other operating expenses		940		769			171			22.2	%
Total non-interest expenses		7,806		7,230			576			8.0	%
Income before income taxes		1,708		1,374			334			24.3	%
Income tax provision		385		287			98			33.9	%
Net income	$	1,323	$	1,087		$	236			21.8	%

Earnings per common share – Basic	$	0.07	$	0.05		$	0.02			31.1	%
Earnings per common share – Diluted		0.07		0.05			0.02			32.7	%
Weighted average shares outstanding – Basic		20,095		21,641			(1,546	)		-7.1	%
Weighted average shares outstanding – Diluted		20,095		21,898			(1,803	)		-8.2	%

First Commerce Bancorp, Inc.

Consolidated Statements of Income

For the six months ended June 30, 2025 and 2024

(Unaudited)

	Six Months Ended					Variance
*(dollars in thousands, except percentages and share data)*	June 30, 2025		June 30, 2024			Amount			%
Interest and Dividend Income
Loans, including fees	$	35,803	$	35,631		$	172			0.5	%
Investment securities:
Available-for-sale		597		132			465			352.6	%
Held-to-maturity		3,570		1,142			2,428			212.7	%
Interest-bearing deposits with other banks		1,821		1,599			222			13.9	%
Restricted stock dividends		406		340			66			19.5	%
Total interest and dividend income		42,197		38,844			3,353			8.6	%
Interest expense:
Deposits		19,573		18,591			982			5.3	%
Borrowings		4,363		3,671			692			18.9	%
Total interest expense		23,936		22,262			1,674			7.5	%
Net interest income		18,261		16,582			1,679			10.1	%
Provision for credit losses		414		384			30			7.9	%
Provision for (reversal of) unfunded commitments for credit losses		290		(124	)		414			-333.7	%
Provision for credit losses – HTM securities		91		48			43			89.0	%
Total provision for credit losses		795		308			487			158.4	%
Net interest income after provision for (reversal of) credit losses		17,466		16,274			1,192			7.3	%
Non-interest Income:
Service charges and fees		582		420			162			38.6	%
Bank owned life insurance income		484		470			14			3.0	%
Other income		914		195			719			367.9	%
Total non-interest income		1,980		1,085			895			82.5	%
Non-Interest Expenses:
Salaries and employee benefits		9,421		8,989			432			4.8	%
Occupancy and equipment expense		2,241		1,825			416			22.8	%
Advertising and marketing		129		190			(61	)		-32.2	%
Professional fees		936		970			(34	)		-3.5	%
Data processing expense		675		585			90			15.4	%
FDIC insurance assessment		488		370			118			31.9	%
Other operating expenses		1,771		1,518			253			16.6	%
Total non-interest expenses		15,661		14,447			1,214			8.4	%
Income before income taxes		3,785		2,912			873			30.0	%
Income tax provision		788		668			120			17.9	%
Net income	$	2,997	$	2,244		$	753			33.6	%

Earnings per common share – Basic	$	0.15	$	0.10		$	0.05			45.9	%
Earnings per common share – Diluted		0.15		0.10			0.05			47.6	%
Weighted average shares outstanding – Basic		20,242		22,121			(1,879	)		-8.5	%
Weighted average shares outstanding – Diluted		20,243		22,377			(2,134	)		-9.5	%

First Commerce Bancorp, Inc.

Net Interest Margin Analysis

(Unaudited)

	Three months ended June 30, 2025								Three months ended June 30, 2024
	Average					Average			Average					Average
(dollars in thousands)	Balance			Interest		Yield/Cost			Balance			Interest		Yield/Cost
Assets:
Interest-earning assets:
Interest-bearing deposits in other banks	$	79,350		$	828		4.19	%	$	75,520		$	945		5.03	%
Investment securities:
Available-for-sale		26,726			414		6.20	%		8,515			64		3.01	%
Held-to-maturity		153,307			1,896		4.95	%		68,194			648		3.80	%
Total investment securities		180,033			2,310		5.13	%		76,709			712		3.71	%
Restricted stock		10,886			186		6.82	%		8,474			183		8.64	%
Loans receivable:
Consumer loans		978			4		1.74	%		469			2		1.72	%
Home equity loans		2,176			48		8.88	%		2,965			60		8.13	%
Construction loans		116,684			2,334		7.91	%		110,515			2,423		8.67	%
Commercial loans		45,798			915		7.90	%		34,825			647		7.35	%
Commercial mortgage loans		1,095,592			14,628		5.28	%		1,060,086			14,166		5.29	%
Residential mortgage loans		10,223			121		4.76	%		14,618			179		4.92	%
SBA loans		21,095			365		6.84	%		26,147			476		7.21	%
Total loans receivable		1,292,546			18,415		5.71	%		1,249,625			17,953		5.78	%
Total interest-earning assets		1,562,815			21,739		5.58	%		1,410,328			19,793		5.64	%
Non-interest-earning assets:
Allowance for credit losses		(14,826	)							(14,452	)
Cash on hand		2,042								1,959
Other assets		67,098								60,030
Total non-interest-earning assets		54,314								47,537
Total assets	$	1,617,129							$	1,457,865
Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Interest-bearing checking accounts	$	77,441		$	424		2.19	%	$	48,715		$	198		1.63	%
NOW accounts		5,908			44		2.95	%		43,133			378		3.52	%
Money market accounts		252,446			2,052		3.26	%		228,306			2,042		3.60	%
Savings accounts		52,577			317		2.42	%		27,184			26		0.38	%
Certificates of deposit		494,811			5,091		4.13	%		495,512			5,461		4.43	%
Brokered CDs		163,238			1,914		4.70	%		118,037			1,434		4.89	%
Borrowings		208,291			2,257		4.35	%		155,720			1,912		4.94	%
Total interest-bearing liabilities		1,254,712		$	12,099		3.87	%		1,116,607		$	11,451		4.12	%
Non-interest-bearing liabilities:
Demand deposits		160,087								142,030
Other liabilities		30,927								22,003
Total non-interest bearing liabilities		191,014								164,033
Stockholders’ equity		171,403								177,225
Total liabilities and stockholders’ equity	$	1,617,129							$	1,457,865
Net interest spread							1.71	%							1.52	%
Net interest margin				$	9,640		2.47	%				$	8,342		2.38	%

First Commerce Bancorp, Inc.

Net Interest Margin Analysis

(Unaudited)

	Six months ended June 30, 2025								Six months ended June 30, 2024
	Average					Average			Average					Average
(dollars in thousands)	Balance			Interest		Yield/Cost			Balance			Interest		Yield/Cost
Assets:
Interest-earning assets:
Interest-bearing deposits	$	88,528		$	1,821		4.15	%	$	64,829		$	1,599		4.96	%
Investment securities:
Available -for-sale		19,241			597		6.20	%		8,784			132		3.00	%
Held-to-maturity		146,658			3,570		4.87	%		64,462			1,142		3.54	%
Total investment securities		165,899			4,167		5.02	%		73,246			1,274		3.48	%
Restricted stock		10,164			406		7.99	%		8,126			340		8.37	%
Loans:
Consumer loans		930			11		2.41	%		421			4		1.91	%
Home equity loans		2,279			98		8.70	%		2,957			119		8.09	%
Construction loans		110,870			4,391		7.88	%		112,958			4,952		8.67	%
Commercial loans		44,375			1,759		7.89	%		35,509			1,382		7.70	%
Commercial mortgage loans		1,077,946			28,565		5.27	%		1,058,072			27,832		5.20	%
Residential mortgage loans		10,906			258		4.76	%		14,746			353		4.84	%
SBA loans		21,112			721		6.80	%		27,092			989		7.22	%
Total loans		1,268,418			35,803		5.69	%		1,251,755			35,631		5.72	%
Total interest-earning assets		1,533,009			42,197		5.55	%		1,397,956			38,844		5.59	%
Non-interest-earning assets:
Allowance for credit losses		(14,813	)							(14,469	)
Cash and due from bank		1,985								1,932
Other assets		67,523								59,983
Total non-interest-earning assets		54,695								47,446
Total assets	$	1,587,704							$	1,445,402
Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Interest-bearing checking accounts	$	77,410		$	828		2.16	%	$	51,071		$	422		1.66	%
NOW accounts		7,261			105		2.93	%		40,613			700		3.47	%
Money market accounts		255,268			4,159		3.29	%		219,353			3,790		3.47	%
Savings accounts		46,059			511		2.24	%		28,165			55		0.39	%
Certificates of deposit		490,578			10,217		4.20	%		500,886			10,927		4.39	%
Brokered CDs		159,120			3,753		4.76	%		110,125			2,697		4.92	%
Borrowings		192,671			4,363		4.57	%		149,637			3,671		4.93	%
Total interest-bearing liabilities		1,228,367		$	23,936		3.93	%		1,099,850		$	22,262		4.07	%
Non-interest-bearing liabilities:
Demand deposits		157,283								142,677
Other liabilities		30,066								22,647
Total non-interest bearing liabilities		187,349								165,324
Stockholders’ equity		171,988								180,228
Total liabilities and stockholders’ equity	$	1,587,704							$	1,445,402
Net interest spread							1.62	%							1.52	%
Net interest margin				$	18,261		2.40	%				$	16,582		2.39	%

First Commerce Bancorp, Inc.

Selected Financial Data

(Unaudited)

	As of and for the quarters ended
(In thousands, except per share data)	6/30/2025			3/31/2025			12/31/2024			9/30/2024			6/30/2024
Summary earnings:
Interest income	$	21,739		$	20,458		$	19,672		$	20,149		$	19,793
Interest expense		12,099			11,837			11,706			11,785			11,451
Net interest income		9,640			8,621			7,966			8,364			8,342
Provision for (reversal of) credit losses		712			83			(55	)		54			300
Net interest income after provision for (reversal of) credit losses		8,928			8,538			8,021			8,310			8,042
Non-interest income		586			1,394			412			582			562
Non-interest expense		7,806			7,855			7,117			7,524			7,230
Income before income tax expense		1,708			2,077			1,316			1,368			1,374
Income tax expense		385			403			167			240			287
Net income	$	1,323		$	1,674		$	1,149		$	1,128		$	1,087
Per share data:
Earnings per share – basic	$	0.07		$	0.08		$	0.06		$	0.05		$	0.05
Earnings per share – diluted		0.07			0.08			0.06			0.05			0.05
Cash dividends declared		–			–			–			–			–
Book value at period end		8.51			8.47			8.39			8.31			8.19
Shares outstanding at period end		20,096			20,130			20,536			20,780			21,489
Basic weighted average shares outstanding		20,095			20,392			20,552			21,164			21,641
Fully diluted weighted average shares outstanding		20,095			20,435			20,612			21,387			21,898
Balance sheet data (at period end):
Total assets	$	1,689,642		$	1,581,983		$	1,551,125		$	1,476,252		$	1,467,517
Investment securities, available-for-sale		26,605			26,789			300			7,748			8,338
Investment securities, held-to-maturity		153,324			151,009			111,909			73,977			74,109
Total loans		1,376,116			1,256,247			1,239,031			1,262,481			1,260,236
Allowance for credit losses		(15,220	)		(14,834	)		(14,756	)		(14,869	)		(14,922	)
Total deposits		1,247,358			1,202,079			1,174,938			1,097,165			1,107,159
Stockholders’ equity		171,000			170,422			172,269			172,642			175,933
Common cash dividends		–			–			–			–			–
Selected performance ratios:
Return on average total assets		0.33	%		0.44	%		0.31	%		0.31	%		0.30	%
Return on average stockholders’ equity		3.10	%		3.93	%		2.65	%		2.56	%		2.47	%
Dividend payout ratio		N/A			N/A			N/A			N/A			N/A
Average yield on earning assets		5.58	%		5.52	%		5.43	%		5.66	%		5.64	%
Average cost of funding liabilities		3.87	%		3.99	%		4.08	%		4.18	%		4.12	%
Net interest margin		2.47	%		2.33	%		2.20	%		2.35	%		2.38	%
Efficiency ratio		76.33	%		78.43	%		84.95	%		84.10	%		81.19	%
Non-interest income to average assets		0.15	%		0.36	%		0.11	%		0.16	%		0.16	%
Non-interest expenses to average assets		1.94	%		2.04	%		1.90	%		2.04	%		1.99	%
Asset quality ratios:
Non-performing loans to total loans		1.30	%		3.02	%		1.34	%		1.15	%		1.21	%
Non-performing assets to total assets		1.06	%		2.40	%		1.07	%		0.98	%		1.04	%
Allowance for credit losses to non-performing loans		84.97	%		39.12	%		88.71	%		102.67	%		97.76	%
Allowance for credit losses to total loans		1.11	%		1.18	%		1.19	%		1.18	%		1.18	%
Net recoveries (charge-offs) to average loans		0.02	%		0.02	%		-0.01	%		-0.03	%		0.01	%
Liquidity and capital ratios:
Net loans to deposits		109.10	%		103.27	%		104.20	%		113.71	%		112.48	%
Average loans to average deposits		107.13	%		105.49	%		111.83	%		114.54	%		113.30	%
Total stockholders’ equity to total assets		10.12	%		10.77	%		11.11	%		11.69	%		11.99	%
Total capital to risk-weighted assets		12.53	%		13.29	%		14.45	%		14.30	%		14.67	%
Tier 1 capital to risk-weighted assets		11.44	%		12.16	%		13.26	%		13.13	%		13.48	%
Common equity tier 1 capital ratio to risk-weighted assets		11.44	%		12.16	%		13.26	%		13.13	%		13.48	%
Tier 1 leverage ratio		10.59	%		10.74	%		11.56	%		11.80	%		12.08	%

Source: First Commerce Bancorp, Inc.

Contact:

Donald Mindiak

President and Chief Executive Officer

dmindiak@firstcommercebk.com

The post First Commerce Bancorp, Inc. Reports Second Quarter and Year-to-Date 2025 Results appeared first on CorporatePRwire.

TMA Chicago Midwest Chapter Announces First-Ever Symposium on High-Dollar Company Restructurings

CorporatePRwire — Wed, 09 Jul 2025 20:02:44 +0000

Association Focused on Business Improvement Offering Afternoon Program Focused on Industry’s Largest Deals on July 22, 2025

Chicago, IL / CorporatePRwire / July 9, 2025 – The Turnaround Management Association’s Chicago Midwest Chapter, focused on operational and financial turnarounds of businesses of all sizes, announces today it will stage its inaugural Large Cap Symposium on Thursday, July 22 from 2:00-7:30 Central Time. In the context of restructuring, “large cap” refers to large capitalization companies — defined as firms with over one billon dollars in annual revenue.

This exclusive conference, dedicated to understanding the issues unique to large cap restructurings, will feature four dynamic panel discussions with chairs of practice groups and top-tier professionals from leading firms in law, restructuring, lending, investment banking, and transactions. The conference is expected to attract a large number of attendees from legal, financial, and consulting backgrounds who work with distressed companies.

Members of the press requesting interviews about the event should contact Katlyn Weiler at TMAChicago@turnaround.org. Those interested in attending the symposium can register for this program by visiting the program website.

Highlights include:

Expert panels on the special considerations of large cap restructuring engagements
A special interview with Judge Michael Slade, United States Bankruptcy Court, Northern District of Illinois, offering a judicial perspective on these cases
Cocktails and networking to close out the afternoon

David Levy, the 2025 TMA Chicago/Midwest Chapter President, and a full-time professional with Keen-Summit Capital Partners and Summit Investment Management, sums up the program as “a remarkable opportunity to connect with elite restructuring industry professionals while gaining unique insights into very large deals.” Levy continued, “the event is open to members and non-members and we welcome professionals from all backgrounds to see what the TMA Chicago Midwest has to offer.”

Confirmed speakers and panel topics include:

Panel 1: Unique Considerations for Large Cap Restructurings

Moderator: Nathan Cook, Head of U.S. Financial Advisory, Teneo

Panelists:

John Castellano, Americas Co-Leader, Turnaround & Restructuring, AlixPartners
Dan Hugo, Senior Managing Director, FTI Consulting
Doug Spelfogel, Co-Chair Bankruptcy and Restructuring Practice, Jenner & Block
James H.M. Sprayragen, Vice Chairman, Hilco Global

Panel 2: Liability Management Exercise Overview

Moderator: Briana Richards, EY Americas Restructuring Leader, EY Parthenon

Panelists:

Andrew Hede, Head of Turnaround & Restructuring Practice, Accordion
Scott Meyerson, Managing Director, Restructuring & Liability Management, Lazard
Brian Whittman, Managing Director, Restructuring, Alvarez & Marsal

Panel 3: Insights into Distressed Finance and M&A Mega Deals

Moderator: Mychal Harrison, US Turnaround and Restructuring Lead, KPMG

Panelists:

Jack Butler, Chief Executive Officer, Birch Lake
David Hales, Managing Director, Portfolio Group, Monroe Capital
John Lyons, Partner, DLA
Ron Meisler, Partner, Corporate Restructuring, Skadden

Panel 4: Interview with Judge Michael Slade, United States Bankruptcy Court, Northern District of Illinois

Moderated by Ross Kwasteniet, Partner, Restructuring Group, Kirkland & Ellis

Cocktails and Networking with heavy hors d’oeuvres immediately following the program.

About TMA Chicago/Midwest

TMA Chicago/Midwest is a chapter of the Turnaround Management Association (TMA), the most professionally diverse organization in the corporate restructuring, renewal, and corporate health space. Established in 1988, TMA has nearly 10,000 members in 54 chapters worldwide, including 34 North American chapters. Members include turnaround practitioners, attorneys, accountants, advisors, liquidators, consultants, as well as academic, government employees, and members of the judiciary. TMA is about more than just turnaround. TMA members are a professional community that seeks to strengthen the global economy by working to save distressed businesses, assist management to navigate off-plan events, and help healthy companies avoid similar pitfalls.

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BSTR Miner Free Cloud Mining App Sees Explosive Growth in Popularity among BTC, ETH and XRP Users

CorporatePRwire — Wed, 25 Jun 2025 13:32:39 +0000

London, UK / CorporatePRwire / June 23, 2025 / British company BSTR Miner reports a surge in user adoption now that its free cloud mining app is available to users worldwide. Designed to support mining of top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP), the app quickly attracted more than 100,000 new users within the first month of its launch. The momentum reflects the growing demand for easy-to-use mining tools that allow users to explore the potential of passive crypto income without investing in expensive mining equipment or complex technical setups. A BSTR Miner spokesperson said: “We created BSTR Miner with a clear goal in mind: to provide a way for everyday people to tap into the potential of top digital assets such as BTC, ETH and XRP from their mobile devices.”

Key Features Driving Growth

Free Mobile Mining: Users can start mining selected cryptocurrencies directly from their smartphone or browser without having to purchase hardware.

Supports multiple cryptocurrencies: In addition to BTC, ETH, and XRP, users can also mine DOGE, LTC, SOL, and stablecoins such as USDT and USDC.

User-friendly interface: The application is built simply to provide a quick start for beginners and provides an intuitive dashboard to manage contracts.

Flexible cloud mining contracts: Daily settlement contracts provide users with the potential to receive continuous rewards, and the principal is automatically returned at the end of each term.

Safe withdrawals: Once the minimum balance threshold is reached, funds can be withdrawn to a personal wallet.

The following data illustrates the potential returns you can get.

After the purchase is successful, the contract will be mined and users can get potential returns the next day. When the account balance reaches $100, you can withdraw to your personal crypto wallet at any time. The platform interface is simple and intuitive, making it easy for even cryptocurrency novices to participate. The platform supports settlement of mainstream digital assets such as XRP, DOGE, BTC, ETH, LTC, BCH, SOL, USDC and USDT, providing users with a flexible and convenient way to manage their returns.

Continued Global Expansion
Following the initial success of the app, BSTR Miner plans to further expand its reach in emerging cryptocurrency markets such as Asia, Africa and Latin America. New regional partnerships and multi-language support are expected to be launched later this year.

About BSTR Miner
Founded in 2019, BSTR Miner is a global cloud mining platform that aims to make cryptocurrency mining simple, secure and convenient. Users from all backgrounds can easily get started without any technical expertise and unlock the potential for passive income through the platform’s streamlined mining services.

Website: https://www.bstrminer.com

Email: info@bstrminer.com

Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice or trading recommendations. Cryptocurrency mining and staking involve risks and may result in loss of funds. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

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Avanza Capital Holdings Backs Texas Performing Arts to Support Cultural Innovation and Young Talent at The University of Texas at Austin

CorporatePRwire — Tue, 27 May 2025 11:29:51 +0000

NEW YORK CITY, NY / CorporatePRwire / May 20, 2025 / Avanza Capital Holdings, a leading alternative private credit firm, today announced its proud support of Texas Performing Arts (TPA), the renowned live performance division of The University of Texas at Austin. As one of the most active university based arts organizations in the country, TPA is central to the cultural and educational life of the region presenting Broadway tours, national artists, international talent, and new works across music, theater, and dance.

This donation underscores Avanza Capital’s commitment to enriching communities through strategic philanthropy, while aligning with its broader mission to empower visionaries who are using their platforms to foster growth, creativity, and opportunity.

“As a firm committed to cultivating impact that extends beyond finance, we are honored to support Texas Performing Arts,” said Frank Scarso, CEO of Avanza Capital Holdings. “Their influence on campus, across Austin, and nationally reflects the type of dynamic leadership and innovation that aligns with our values.”

Texas Performing Arts operates premier venues on the UT Austin campus including the iconic Bass Concert Hall, the city’s largest theater and serves more than 20,000 students annually through its expansive education programs. TPA also acts as a national incubator for new productions, giving voice to emerging and established artists alike.

In a statement on Avanza’s donation with a key advocate of TPA’s mission, Anthony DeBenedictis, Managing Partner of Avanza Capital Holdings, added:

“At Avanza Capital, we believe in empowering individuals and institutions that create lasting impact. We are proud to support one of our lending partners a visionary technologist turned celebrated recording artist whose life’s work bridges innovation and artistry. His commitment to nurturing young talent through the performing arts exemplifies the kind of purpose driven leadership we stand behind.”

The individual referenced, an acclaimed vocalist and former IBM Fellow, recently garnered national acclaim for his tribute album Sinatra My Way, produced with the Nelson Riddle Orchestra. His dual legacy in technology and music reflects a lifelong mission to inspire and support future generations of performers, especially those nurtured through programs like Texas Performing Arts.

About Avanza Capital:

Meet The Team – Avanza Capital Holdings LLC

Avanza Capital Holdings is a premier provider of private alternative financing solutions for accredited lenders. Specializing in high-yield, short-duration fixed income strategies, the firm creates and manages diversified portfolios of small to medium sized business strategies, offering monthly principal and interest distributions. Avanza is committed to delivering consistent, risk adjusted returns through disciplined underwriting and institutional grade due diligence. The firm is overseen by top-tier general counsel, including lifelong partnerships with nationally recognized outside general counsel, ensuring strict regulatory compliance and legal oversight across all portfolio operations.

Avanza Capital’s Very Own Michael Henry Gains Momentum in Bid …

Anthony C. Varbero – America’s Top 50 Lawyer -Securities Law

About Texas Performing Arts

Texas Performing Arts: Homepage

TPA to Host Heller Awards for Young Artists Beginning in 2026

Texas Performing Arts is the performing arts center of The University of Texas at Austin and a national leader in university-based arts presentation and production. Through world-class programming and deep educational engagement, TPA transforms lives by creating, presenting, and connecting people through live performance.

Media Contact:

40 Wall Street, New York, NY 28th Fl 10005
Avanza Capital Holdings

Frank Scarso
CEO
frank@avanza.nyc
212-320-0532

Anthony DeBenedictis
Managing Partner/Chief Strategic Officer
anthony@avanza.nyc
914-536-7565

https://avanza.nyc/in-the-news/

Disclaimer

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, financial instruments, or investment advisory services. Past performance is not indicative of future results, and no guarantees of returns are made. Avanza Capital Holdings is not a registered investment advisor, Hedge fund or SEC filing and nothing in this release should be construed as financial, legal, or tax advice. Prospective lenders should conduct their own due diligence and consult with independent legal and financial professionals before participating as an accredited lending partner. The outside general counsel for Avanza Capital Holdings provides legal oversight and regulatory guidance and is not responsible for the overall activity, actions, or financial outcomes in connection with the business relationships between Avanza Capital and its respective lending partners. General counsel conducts legal services as an outside entity to and for Avanza Capital Holdings and is not directly employed by Avanza Capital and acts solely as “Outside General Counsel.”

SOURCE: Avanza Capital Holdings

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DB Investing Partners with the ENTERTAINER to Help Clients Save Money Daily Across the UAE and Saudi Arabia.

CorporatePRwire — Thu, 17 Apr 2025 18:37:53 +0000

Dubai, UAE / CorporatePRwire / April 17, 2025 — DB Investing, the award-winning, multi-regulated financial platform, is proud to announce its latest strategic partnership with the ENTERTAINER, the region’s most trusted lifestyle savings app. This collaboration represents a powerful step forward in DB Investing’s mission to deliver value beyond the trading screen—helping clients grow their wealth and save more in their everyday lives.

Through this exclusive partnership, all DB Investing clients in the UAE and Saudi Arabia will receive complimentary, 6 months access to GCC product through the ENTERTAINER lifestyle app, unlocking thousands of offers across restaurants, leisure, travel, beauty, fitness, and more. These benefits are typically reserved for paid subscribers, but DB Investing clients will now enjoy them for free—without any membership cost. “We believe that investing in our clients’ financial wellness means more than just offering advanced trading tools and multi-asset access,” said Gennaro Lanza, CEO of DB Investing. “With the rising cost of living, saving money on daily activities is more important than ever. Partnering with the ENTERTAINER allows us to help our clients enjoy life’s best moments—without overspending.”

This partnership is part of a larger client-first strategy at DB Investing. In recent months, the company has: Expanded its regulatory footprint with new licenses from ESCA (UAE) and Fintrac (Canada). Strengthened its presence across Dubai, Seychelles, Cyprus, Malta, Nigeria, Egypt, and Saudi Arabia. Earned over 10 prestigious international awards, including recognition as one of the Top 50 CEOs in Financial Markets for 2024. Now, with this collaboration, DB Investing continues to lead by example—proving that investing smartly and living smartly can go hand in hand. Whether it’s enjoying a night out, taking the family to brunch, or booking a staycation, DB Investing clients now have more ways to stretch their money, while continuing to grow their investments.

About DB Investing:

DB Investing is a global trading platform offering access to over 10,000 instruments, including real stocks, ETFs, bonds, and crypto. Regulated in the UAE, Seychelles, and Canada, DB Investing is redefining what it means to be a modern brokerage—with a strong focus on technology, education, and client empowerment.

About the ENTERTAINER business

The ENTERTAINER business offers customized loyalty and rewards opportunities to over 250 businesses globally. We enable businesses to tailor their loyalty and rewards programs to serve their customers and staff. Whether driving customer acquisition, improving staff retention or increasing omnichannel data-driven engagement, the ENTERTAINER business delivers tangible ROI in addition to invaluable analytics and insights.

The post DB Investing Partners with the ENTERTAINER to Help Clients Save Money Daily Across the UAE and Saudi Arabia. appeared first on CorporatePRwire.

DB GROUP HOLDING APPOINTS SYED NOUFEL TO ITS BOARD OF DIRECTORS

CorporatePRwire — Fri, 11 Apr 2025 16:49:03 +0000

DUBAI, UNITED ARAB EMIRATES, April 11, 2025 – ( CorporatePRwire) — DB Group Holding is pleased to announce the appointment of Syed Noufel to its Board of Directors, a strategic addition that reflects the group’s accelerated focus on international expansion, institutional collaboration, and forward-thinking investments across emerging and established markets.

As a privately held investment group registered under the Abu Dhabi Global Market (ADGM) – the UAE’s leading international financial centre – DB Holding operates a growing portfolio of financial, technological, and real estate ventures. With active operations in the UAE, Seychelles, Cyprus, Egypt, Saudi Arabia, and Malta, and upcoming offices in Latin America and Asia, DB Holding is on a mission to become a global force in investment and financial innovation.

The group’s flagship subsidiary, DB Investing, is a multi-licensed online brokerage firm regulated by the Securities and Commodities Authority (SCA) in the UAE and the Financial Services Authority (FSA) in the Seychelles, along with an MSB license in Canada from Fintrac. In 2024, DB Investing also earned its ESCA license in Dubai and continued its evolution into a holistic investment platform offering access to over 10,000 instruments including stocks, ETFs, bonds, and cryptocurrencies. With a track record of growth and a commitment to regulatory transparency, DB Group Holding has positioned itself as a next-generation investment partner bridging global capital with future-ready solutions.

The appointment of Syed Noufel comes at a pivotal moment. A highly respected executive with deep expertise in cross-border M&A, strategic partnerships, and government relations, Syed has built an impressive career leading regional expansion strategies, managing international corporate portfolios, and supporting high-impact public sector initiatives across the GCC, Southeast Asia, and Africa.

Known for his ability to translate visionary ideas into scalable results, Syed is admired for his bold, outcome-oriented leadership and his expansive global network of diplomatic, governmental, and institutional stakeholders. He has worked closely with multinational corporations, sovereign entities, and global investors, bringing together the right people, capital, and vision to drive transformation.

In his new role as Board Director, Syed will contribute to shaping DB Holding’s strategic roadmap, with a particular focus on:
– Forging high-level partnerships with sovereign funds, institutional investors, and regulatory bodies
– Accelerating entry into new high-growth markets in Asia, Latin America, and Africa
– Advising on sustainable investment frameworks and regional diversification strategies
– Guiding M&A activity and long-term value creation initiatives

Most recently, Syed Noufel played a pivotal role in supporting the African Group of Ambassadors and Chargés dAffaires of the UAE—a distinguished coalition representing 37 African nations—by offering strategic guidance to the Organising Committee of Africa Day 2025.

His instrumental contribution to this high-level initiative not only reinforces his diplomatic stature and professional credibility but also reflects his unwavering commitment to fostering meaningful international collaboration and unity

A Statement from DB Holding CEO, Gennaro Lanza:
“Syed Noufel’s appointment is more than a strategic move—it’s a signal of our ambition. We are not just scaling geographically; we are building institutional trust, opening new gateways, and partnering with key decision-makers globally. Syed brings the kind of global insight, strategic foresight, and leadership strength that aligns perfectly with the vision of DB Holding. We are thrilled to welcome him to the Board.”

About DB Holding:
DB Group Holding is a global investment group headquartered in the UAE and registered under Abu Dhabi Global Market (ADGM). Through its flagship company, DB Investing, and a network of regulated financial entities, DB Holding is redefining the future of global investing. With operations in the UAE, Seychelles, Cyprus, Egypt, Saudi Arabia, and Malta, and expansion planned into Asia and Latin America, the group remains committed to responsible growth, innovation, and financial empowerment. DB Holding has earned over 10 industry awards and continues to be recognized for its leadership in digital transformation and financial services excellence.

DB Group Holding
marketing@dbinvesting.com

SOURCE: DB Group Holding

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GOLD SPONSOR – Avanza Capital Holdings Supports The GRACE Foundation

CorporatePRwire — Mon, 07 Apr 2025 19:27:21 +0000

Staten Island, NY / CorporatePRwire / April 7, 2025 — Avanza Capital Holdings is proud to support The GRACE Foundation and its unwavering commitment to enhancing the lives of individuals and families affected by Autism Spectrum Disorder (ASD).

As a Gold Sponsor, Avanza Capital Holdings has made a significant donation to The GRACE Foundation to help further its vital mission of embracing, educating, and empowering individuals living with ASD. This contribution reflects Avanza’s unwavering belief in creating meaningful impact through education, community integration, and comprehensive support services.

“At Avanza, we believe in building strong, resilient communities—and that starts with supporting organizations that do the same,” said Frank Scarso, CEO of Avanza Capital Holdings. “The GRACE Foundation exemplifies what it means to uplift and empower, and we are honored to stand alongside them in their mission.”

Founded in 2000 by four dedicated parents around a kitchen table, The GRACE Foundation has grown into a vibrant, multi-faceted organization providing innovative and progressive programs to individuals affected by ASD. Its wide range of services includes Community Habilitation, In-Home and Site-Based Respite, Performing Arts, Social Skills workshops, Music and Movement programs, and a Day Habilitation Without Walls initiative.

GRACE empowers its participants through a holistic approach that encourages artistic expression, physical activity, life skills development, and enhanced communication—all while fostering dignity, confidence, and a strong sense of belonging. To make a donation, please visit: https://graceofny.org/

“GRACE is not just a service provider—it’s a family,” said Christine Scarso, President at Avanza Capital Holdings. “We are deeply moved by their story, their mission, and their daily impact. Supporting GRACE is an investment in lives, futures, and a more inclusive tomorrow.”

Avanza Capital Holdings is proud to champion this cause and remains committed to supporting organizations that elevate and empower underserved communities.

Frank Scarso – CEO

Christine Scarso – President

Avanza Capital Holdings | press@avanzacapitalholdings.com

Media Contact

Anthony DeBenedictis
Managing Partner/Chief Strategic Officer
E: anthony@avanza.nyc
P: 914-536-7565

https://avanza.nyc/

Disclosure

This article is for informational purposes only and should not be considered an offer to sell or a solicitation of an offer to buy any securities or capital allocation products. Any capital allocation decisions should be made based on individual financial objectives, risk tolerance, and consultation with professional advisors. Avanza Capital Holdings does not provide tax, legal, or capital allocation advice. Past performance is not indicative of future results. All capital allocation strategies involve risk, including the potential loss of principal.

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Duhani Capital Announces Enhanced Trading Solutions and Commitment to Client Success

CorporatePRwire — Sat, 15 Mar 2025 11:50:19 +0000

Duhani Capital, a leading online trading platform, has announced a series of strategic initiatives and platform enhancements designed to empower traders worldwide. With a steadfast commitment to security, transparency, and excellence, Duhani Capital continues to innovate, providing clients with unparalleled trading experiences

Introducing Enhanced Trading Platforms

To cater to the diverse needs of modern traders, Duhani Capital has upgraded its suite of trading platforms:

WebTrader: This browser-based platform requires no installation, allowing traders to access global markets seamlessly from any device. With an intuitive interface and advanced trading tools, WebTrader ensures efficient trade execution and management.
MetaTrader 5 (MT5): Recognized globally for its robust features, MT5 is now fully integrated with Duhani Capital. Traders can benefit from comprehensive market analysis tools, algorithmic trading capabilities, and a user-friendly interface. Detailed guides are available to assist clients in maximizing the platform’s potential.

Diverse Account Types Tailored for Every Trader

Understanding that each trader has unique requirements, Duhani Capital offers a range of account types:

Micro Account: Suitable for beginners, this account features spreads as low as 1.2 pips, no commission, swap-free options, and no minimum deposit requirement. It also offers leverage up to 1:1000 for Forex trading.
Standard Account: Designed for intermediate traders, it provides similar benefits to the Micro Account, ensuring a seamless transition as traders gain experience.
Professional Account: For seasoned traders, this account offers spreads starting at 0.6 pips, no commission, swap-free options, and a minimum deposit of $1,000. It also includes leverage up to 1:1000 for Forex trading.

Each account type is crafted to align with traders’ goals, ensuring flexibility and optimal trading conditions.

Commitment to Secure and Regulated Trading

Duhani Capital’s partnership with Financial Master Management Ltd. and possession of a Master Financial Dealer License underscores its dedication to providing a secure and compliant trading environment. Clients can engage in trading within a framework designed to align with regulatory standards for security and compliance.

Stable Spreads and Cost-Effective Trading

Duhani Capital provides stable spreads, enabling more predictable performance. The platform also eliminates hidden fees, including zero overnight and administrative charges, allowing traders to maximize their returns without unexpected costs.

User-Friendly Interface and Advanced Tools

The platform’s intuitive design ensures that both novice and experienced traders can navigate the system with ease. Advanced trading tools, real-time market data, and customizable interfaces empower clients to make informed decisions swiftly.

Educational Resources and Support

Duhani Capital provides educational resources such as tutorials, webinars, and market analyses to support informed trading decisions. A support team is available 24/5 to assist with inquiries, offering guidance on market trends and strategies.

Global Market Access

Clients of Duhani Capital can access a wide range of financial instruments, including Forex, commodities, indices, and cryptocurrencies. This extensive market access allows traders to diversify their portfolios and capitalize on global market opportunities.

Looking Ahead

Duhani Capital remains dedicated to continuous improvement and innovation. Future plans include the introduction of new trading instruments, enhanced analytical tools, and expanded educational content to further support traders in achieving their financial goals.

About Duhani Capital:

Duhani Capital is a premier online trading platform offering clients access to global financial markets. With a focus on security, transparency, and excellence, the company provides cutting-edge trading solutions tailored to meet the diverse needs of its clientele. Through continuous innovation and a client-centric approach, Duhani Capital empowers traders to navigate the financial markets with confidence.

https://duhanicapital.com/

Contact Information

Ali Yılmaz
CEO of Duhani Capital
ali.yilmaz@duhanicapital.com

https://duhanicapital.com/

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Aryza Group Launches Aryza Control into the Canadian Market

CorporatePRwire — Tue, 18 Feb 2025 15:29:32 +0000

TORONTO, CANADA, February 18, 2025 – (CorporatePRwire) — Aryza, a leading provider of financial SaaS solutions, has announced the launch of Aryza Control, an advanced platform designed to help businesses optimise the management of external collection partners in the Canadian market.

Aryza Control’s centralised platform offers a comprehensive reporting and benchmarking solution that provides complete visibility into an organisation’s collections portfolio. This holistic view heightens cooperation between businesses and their collection partners, enhancing case management strategies, improving recovery rates and simplifying operations.

With Aryza Control, organisations can strengthen their credit management processes for both B2B and B2C clients. The platform delivers powerful data analysis and reporting capabilities, creating a uniform view of case data that facilitates more effective collaboration and strategic decision-making across the collections lifecycle.

Key features include built-in security compliant with ISAE 3402 Type II and ISO 27001 standards, and full adherence with GDPR. The solution also enables businesses to manage the entire outsourcing process efficiently and provides Corporate Social Responsibility monitoring on debt collection agencies to ensure compliance.

Brent Reuter, General Manager of North America at Aryza, commented, “The launch in Canada underscores our commitment to helping businesses augment their collections management strategies. By providing a solution that improves transparency and collaboration, Aryza Control empowers our clients to build stronger partnerships and achieve improved performance in their operations.”

About Aryza

Aryza is a provider of end-to-end, mission-critical automation software to business customers in regulated industries, focused on the lending, credit, debt recovery and insolvency sectors. Aryza’s solutions automate a wide range of back and middle office activities including customer data collection, administration, and payment processing, covering every stage of the debt cycle. Its scalable technology platform is capable of meeting high volume, high complexity needs and helps customers significantly increase efficiency while ensuring compliance with local legislation. Aryza’s solutions are underpinned by unrivalled expertise and powerful data and are designed to have a positive impact on the financial health and wellbeing of our customer’s customers around the world. Since its foundation in 2002, the business has grown rapidly. Today it has global operations across four continents.

For more information visit https://www.aryza.com/

Media Contact:

Ellen Oliver
ellen.oliver@aryza.com

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