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Business Wire
37 minutes ago
- Business
- Business Wire
Freedom Holding Corp. Reports First Quarter Fiscal Year 2026 Financial Results
NEW YORK--(BUSINESS WIRE)--Freedom Holding Corp. (the 'Company') (NASDAQ: FRHC), a multinational diversified financial services holding company with a presence in 22 countries, today announced financial results for the first quarter of fiscal year 2026 ended June 30, 2025. Highlights during the quarter include the following: $533.4 million in total revenue, net, versus $455 million for the quarter ended June 30, 2024, a 17% increase Net income of $30.4 million, or $0.50 per diluted share, $0.51 per basic share Total assets of $9.7 billion Total customers across segments rose to 5.3 million at June 30, 2025 Added to the Russell 3000 ® Index on June 27, 2025 S&P Global Ratings revised its outlook to Positive from Stable and affirms Credit Ratings for Freedom KZ, Freedom EU, Freedom Global, and Freedom Bank KZ Fiscal First Quarter 2026 Financial Highlights: The Company recognized total revenue, net of $533.4 million in the fiscal 2026 first quarter, an increase of 17% from $455 million in the comparable prior-year period. Revenue rose at the brokerage, banking, and insurance segments. Insurance premiums earned, net of reinsurance rose by 18% to $153.3 million from last year's first quarter and the Company realized a net gain on trading securities of $45.6 million compared to a net loss of $52.1 million in last year's fiscal first quarter. The Company had a net gain on derivatives of $15.5 million in the fiscal 2026 first quarter, an increase of 24% from $12.5 million in last year's first quarter due to revaluation of currency swaps. The Company's total expense was approximately $492.9 million in fiscal 2026 first quarter as compared to $413.4 million in last year's first quarter. Net income was $30.4 million for the fiscal 2026 first quarter compared to $34.4 million in the first quarter of fiscal 2025. Basic and diluted earnings per share were $0.51 and $0.50, respectively, compared to $0.58 and $0.57 per share, respectively, in last year's first quarter. Weighted average common shares outstanding used to compute basic and diluted earnings per share for the quarter ended June 30, 2025 were 59.9 million and 61.1 million, respectively, and 59.3 million and 60.3 million, respectively, for the quarter ended June 30, 2024. Total assets were $9.7 billion on June 30, 2025, compared to $9.9 billion as of the fiscal 2025 year ended March 31, 2025. Continuing the Growth and Evolution of our Business Model 'Our results for the fiscal 2026 first quarter reflect the continuing growth and evolution of our business model,' said Timur Turlov, the Company's founder and chief executive officer. 'We have expanded our product portfolio, embraced the digital transformation of our platform, and strengthened our market presence. We are also elevating our profile in the investment community, as reflected by our inclusion in the Russell 3000® Index on June 27, 2025. We remain ever-grateful for the dedication and hard work of our 10,054 employees in 231 offices around the world.' Mr. Turlov noted the Company's success in transforming into a one-stop shop, multi-point financial ecosystem that allows clients to manage their diverse financial needs in partnership with a single, trusted provider. He continued, 'Our commitment to providing the highest level of client service and accountability, including the continuing success of our Super App, has allowed us to expand our client base to more than 5.3 million across our three primary segments, representing a nearly 5% increase from March 31, 2025. Our strong financial position will support our growth objectives for fiscal 2026, with a focus on continuing our investments in digital infrastructure and AI to build out the Freedom services portfolio.' Additional Fiscal First Quarter 2026 highlights Brokerage: Revenue increased to $176.3 million from $174.9 million, driven by increases in fee and commission income, net gain on trading securities, and interest income, partially offset by a decrease in net (loss)/gain on foreign exchange operations and lower other income. Total retail brokerage clients rose to 725,000 as of June 30, 2025 compared to 683,000 as of March 31, 2025. Brokerage services were offered at 44 offices as of June 30, 2025. Banking: Revenue increased by 60% to $146.2 million from $91.2 million, driven primarily by an increase of net gain in trading securities, partially offset by lower commission income, which was primarily driven by active use by customers of a cashback-based loyalty program. The loyalty program is leveraged to effectively reduce transaction costs for customers by supporting our customer base expansion and increasing engagement across the ecosystem. Total banking clients rose to 2,927,000 as of June 30, 2025, up from 2,515,000 as of March 31, 2025. Banking services were offered at 30 offices as of June 30, 2025. Insurance: Revenue rose by 18% to $174.0 million from $147.3 million, driven by improved insurance premiums earned, net of reinsurance from written insurance premiums due to the expansion of the Company's insurance operations such as pension annuity and accident insurance. Total insurance clients rose to 1,396,000 as of June 30, 2025, from 1,170,000 as of March 31, 2025. Insurance services were offered at 57 offices as of June 30, 2025. Other Segments: Revenue declined to $36.9 million from $41.6 million as additional lifestyle benefits were added for customers as we invest in and develop the telecom business as part our long-term strategic planning. Acquisition of Astel Group Ltd On April 30, 2025, the Company acquired 100% interest in Astel Group Ltd. Astel Group Ltd. is a provider of digital solutions and telecommunications services, and ranks among the largest telecom operators in Kazakhstan. Astel Group Ltd provides advanced IT solutions including information security and cloud services. The purpose of the acquisition of Astel Group Ltd was to use the acquired assets and licenses to develop our telecommunications business. As of April 30, 2025, the date of the acquisition of Astel Group Ltd, the fair value of net assets of Astel Group Ltd was $20.6 million. The total purchase price was $22.3 million. About Freedom Holding Corp. Freedom Holding Corp., a Nevada corporation, is a diversified financial services holding company conducting securities brokerage, investment research, investment counseling, securities dealing, commercial banking and insurance products through its subsidiaries, operating under the name Freedom Finance in Europe and Central Asia, and Freedom Capital Markets in the United States. Through its subsidiaries, Freedom Holding Corp. employs more than 10,054 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, International Trading System Limited, Armenia Stock Exchange, Kyrgyz Stock Exchange, the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange. Freedom Holding Corp.'s common shares are registered under the United States Securities Exchange Act of 1934 and are traded under the symbol FRHC on the Nasdaq Capital Market, operated by Nasdaq, Inc. The Company has its main market of operations in Kazakhstan and has operations through its subsidiaries in 22 countries. To learn more about Freedom Holding Corp., visit Cautionary Note Regarding Forward-Looking Statements This release contains "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. All forward-looking statements are subject to uncertainty and changes in circumstances. In some cases, forward-looking statements can be identified by terminology such as "expect," "new," "plan," "seek," and "will," or the negative of such terms or other comparable terminology and include statements relating to our plans, intentions and expectations including our plans to enter the telecommunications market, our expectations with respect to further years and other non-historical statements. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include economic, business, and regulatory risks and other factors including those identified in the Company's periodic and current reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Website Disclosure Freedom Holding Corp. intends to use its website, as a means for disclosing material non-public information and for complying with U.S. Securities and Exchange Commission Regulation FD and other disclosure obligation. FREEDOM HOLDING CORP. (All amounts in thousands of United States dollars, unless otherwise stated) Three Months Ended June 30, 2025 2024 Revenue: Fee and commission income $ 107,642 $ 115,489 Net gain/(loss) on trading securities 45,602 (52,102 ) Interest income 198,571 226,004 Insurance premiums earned, net of reinsurance 153,257 129,408 Net (loss)/ gain on foreign exchange operations (12,893 ) 8,089 Net gain on derivatives 15,459 12,494 Sales of goods and services 17,224 5,220 Other income 8,561 10,397 TOTAL REVENUE, NET $ 533,423 $ 454,999 Expense: Fee and commission expense $ 84,871 $ 80,147 Interest expense 113,410 145,718 Insurance claims incurred, net of reinsurance 80,285 47,309 Payroll and bonuses 93,101 57,524 Professional services 13,024 7,268 Stock compensation expense 23,054 10,615 Advertising and sponsorship expense (including for the three months ended $5,513 and $2,045 from related parties) 24,463 21,896 General and administrative expense 41,975 40,410 Allowance for/(recovery of) expected credit losses 4,822 (1,770 ) Cost of sales 13,903 4,284 TOTAL EXPENSE $ 492,908 $ 413,401 INCOME BEFORE INCOME TAX 40,515 41,598 Income tax expense (10,119 ) (7,339 ) NET INCOME $ 30,396 $ 34,259 Less: Net loss attributable to non-controlling interest in subsidiary — (141 ) NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 30,396 $ 34,400 OTHER COMPREHENSIVE INCOME Change in unrealized gain on investments available-for-sale, net of tax effect 2,998 3,374 Reclassification adjustment for net realized loss/(gain) on available-for-sale investments disposed of in the period, net of tax effect 174 (18 ) Foreign currency translation adjustments (41,804 ) (65,811 ) OTHER COMPREHENSIVE LOSS (38,632 ) (62,455 ) $ (8,236 ) $ (28,196 ) — (141 ) $ (8,236 ) $ (28,055 ) EARNINGS PER COMMON SHARE (In U.S. dollars): Earnings per common share - basic 0.51 0.58 Earnings per common share - diluted 0.50 0.57 Weighted average number of shares (basic) 59,853,479 59,258,085 Weighted average number of shares (diluted) 61,057,627 60,255,593 Expand
Business Wire
28-07-2025
- Business
- Business Wire
Chain Bridge Bancorp, Inc. Reports Second Quarter 2025 Financial Results
MCLEAN, Va.--(BUSINESS WIRE)-- Chain Bridge Bancorp, Inc. (NYSE: CBNA) (the 'Company'), the holding company for Chain Bridge Bank, N.A. (the 'Bank'), today announced financial results for the second quarter of 2025 and the six months ended June 30, 2025. Peter G. Fitzgerald, Chairman of Chain Bridge Bancorp, Inc., commented: 'The second quarter began with deposit outflows from political organization accounts, as described in our first quarter earnings release. Deposits then increased by $179.8 million from April 16 through June 30, ending the quarter at $1.3 billion. The Company reported net income of $4.6 million, or $0.70 per basic and diluted share, for the quarter. On June 30, FTSE Russell added Chain Bridge Bancorp, Inc. to the Russell 3000 ® Index, among others, as part of the indices' annual reconstitution.' Second Quarter 2025 Financial Highlights (Three Months Ended June 30, 2025): Consolidated Net Income: $4.6 million Earnings Per Share: $0.70 per basic and diluted common share outstanding Return on Average Equity: 11.93% (on an annualized basis) Return on Average Assets: 1.30% (on an annualized basis) Book Value Per Share: $23.92 Year-to-Date 2025 Financial Highlights (Six Months Ended June 30, 2025): Consolidated Net Income: $10.2 million Earnings Per Share: $1.55 per basic and diluted common share outstanding Return on Average Equity: 13.61% (on an annualized basis) Return on Average Assets: 1.37% (on an annualized basis) Financial Performance For the quarter ended June 30, 2025, the Company reported net income of $4.6 million, compared to $5.6 million for the quarter ended March 31, 2025 and $5.8 million for the quarter ended June 30, 2024. Earnings per share ('EPS') was $0.70 for the quarter ended June 30, 2025, compared to $0.85 for the quarter ended March 31, 2025 and $1.27 for the quarter ended June 30, 2024. The sequential decline in net income was primarily attributable to lower interest income following deposit outflows from political organization accounts early in the second quarter. These outflows occurred after elevated deposit inflows during the first quarter of 2025, the size and timing of which differed from prior post-election periods. See the section titled 'Political Deposit Trends' for more information. During the first quarter, excess balances were held in interest-bearing reserves at the Federal Reserve and short-term U.S. Treasury securities. As these balances declined, interest income adjusted accordingly. Total consolidated deposits were $1.3 billion as of June 30, 2025, compared to $1.6 billion at March 31, 2025. IntraFi Cash Service ® (ICS ®) One-Way Sell ® deposits increased to $121.2 million from $93.2 million in the prior quarter. As discussed further under 'Political Deposit Trends,' deposit balances declined due to significant deposit outflows across six political organization clients early in the quarter, which were partially offset by increases in deposits during the latter portion of the quarter. Compared to the second quarter of 2024, net income was $1.2 million lower, due primarily to a reduction in deposit placement services income, driven by a shift of One-Way Sell ® deposits onto the balance sheet, and lower overall deposit levels, reflecting the comparison of a non-election year to elevated deposit activity during the 2024 federal election cycle. Net income increased to $10.2 million for the six months ended June 30, 2025, from $9.7 million for the same period in 2024, driven by a $6.3 million increase in net interest income. Higher average deposit balances, particularly in the first quarter of 2025, supported growth in the investment securities portfolio, and increased cash held at the Federal Reserve. These increases were partially offset by a $2.8 million decrease in noninterest income, due to changes in One-Way Sell ® deposit activity and increased use of reciprocal ICS ® deposits, as well as a $3.0 million increase in noninterest expenses primarily related to operating as a public company. Earnings per share for the first half of 2025 were $1.55, compared to $2.13 for the same period in 2024. The year-over-year decline in EPS was due to the increase in shares outstanding following the Company's initial public offering ('IPO') in October 2024, through which it issued 1,992,897 shares of Class A common stock. Book Value Per Share As of June 30, 2025, book value per share ('BVPS') was $23.92, compared to $21.98 at December 31, 2024 and $20.57 at June 30, 2024. During the first six months of 2025, stockholders' equity increased by $12.7 million, driven primarily by earnings. The increase also reflected a $2.5 million reduction in accumulated other comprehensive loss, resulting from an increase in the fair value of the available-for-sale investment securities portfolio, net of tax. This improvement was attributable to fluctuations in market interest rates during the first six months of 2025, as well as the effects of existing securities converging toward their par values. The year-over-year increase in stockholders' equity of $63.0 million was due to $21.4 million in earnings retained during the period, $36.5 million in net proceeds from the Company's IPO in October 2024 and the related over-allotment exercise in November 2024, and a $5.0 million reduction in accumulated other comprehensive loss attributable to improvements in the fair value of available-for-sale investment securities, net of tax. These additions, which augmented the Company's BVPS, were partially offset by the issuance of 1,992,897 shares of Class A common stock in conjunction with the IPO, and resulted in a net increase to BVPS from $20.57 at June 30, 2024 to $23.92 at June 30, 2025. Interest Income and Net Interest Margin Net interest income for the second quarter of 2025 was $11.8 million, compared to $13.8 million in the first quarter of 2025 and $10.6 million in the second quarter of 2024. The net interest margin was 3.39% in the second quarter of 2025, compared to 3.56% in the first quarter of 2025 and 3.43% in the second quarter of 2024. The decline in net interest income and net interest margin from the preceding quarter was primarily driven by a reduction in average balances held in interest-bearing deposits at other banks, particularly at the Federal Reserve, following outflows from political organization deposit accounts early in the quarter. In the prior quarter, these accounts had contributed meaningfully to interest income, as their temporarily elevated balances were invested in liquid, interest-earning instruments such as Federal Reserve balances and short-term U.S. Treasury securities. As those balances normalized, interest income declined accordingly. An increase in the average size and yield of the investment securities portfolio, which was partially offset by a decrease in the average balance and yield of interest-bearing deposits held in other banks, caused net interest income to increase from $10.6 million during the three months ended June 30, 2024 to $11.8 million during the same period of 2025. Despite improvements in the yield of the investment securities portfolio, the 100 basis point reduction of the Federal Reserve's interest on reserves rate ultimately contributed to a decline in the net interest margin from 3.43% during the three months ended June 30, 2024 to 3.39% during the same period in 2025. During the six months ended June 30, 2025 the Company reported increases in both net interest income and net interest margin compared to the same period in 2024. Net interest income for the six months ended June 30, 2025 was $25.6 million, with a net interest margin of 3.48%, compared to $19.4 million and 3.30%, respectively, during the six months ended June 30, 2024. The increase was primarily attributable to the Company's reinvestment of maturing securities into higher-yielding taxable investment securities, and to the deployment of higher first-quarter 2025 deposit balances — largely from political organization clients — into interest bearing deposits at the Federal Reserve and short-term investment securities. Noninterest Income Noninterest income for the second quarter of 2025 was $828 thousand, compared to $695 thousand in the first quarter of 2025 and $2.6 million for the second quarter of 2024. For the six months ended June 30, 2025, noninterest income was $1.5 million, compared to $4.3 million during the same period in 2024. The year-over-year changes compared to the three and six months ended June 30, 2024 were primarily due to lower deposit placement services income from One-Way Sell ® deposits placed through the ICS ® network. The changes reflect an increase in the Bank's capital levels following the Company's IPO, which permitted a greater portion of deposits to be retained on the balance sheet as reciprocal deposits, as well as the shifts in the composition and activity of the Bank's political organization deposit base. Changes in One-Way Sell ® balances were consistent with typical seasonal patterns associated with federal election cycles. Noninterest Expenses Total noninterest expense for the second quarter of 2025 was $7.2 million, compared to $7.6 million in the first quarter of 2025 and $6.0 million in the second quarter of 2024. For the six months ended June 30, 2025, noninterest expense was $14.7 million, compared to $11.7 million during the same period in 2024. The increases in noninterest expense compared to three and six months ended June 30, 2024 were primarily attributable to higher salaries, as well as increased professional services and insurance expenses, reflecting the Company's expanding operations and the infrastructure required to support its public company operations. While salaries and employee benefits expense decreased $278 thousand between the first and second quarters of 2025, contributing to the overall decline in noninterest expense, this change was attributable to the timing of vacancies and incentive compensation accruals, and does not reflect a reduction in the Company's overall workforce. Balance Sheet & Related Highlights As of June 30, 2025: Total assets were $1.4 billion, consistent with levels reported as of December 31, 2024 and June 30, 2024. Total deposits were $1.3 billion, compared to $1.2 billion as of December 31, 2024, and $1.3 billion as of June 30, 2024. Total ICS ® One-Way Sell ® deposits were $121.2 million, compared to $63.3 million as of December 31, 2024, and $499.2 million as of June 30, 2024. Interest-bearing reserves held at the Federal Reserve were $364.8 million, compared to $406.7 million as of December 31, 2024 and $471.2 million as of June 30, 2024. Total loans held for investment, net of the allowance for credit losses, were $283.6 million, compared to $308.8 million as of December 31, 2024, and $300.4 million as of June 30, 2024. The loan-to-deposit ratio was 22.45% compared to 25.09% as of December 31, 2024, and 23.42% as of June 30, 2024. The ratio of non-performing assets to total assets remained at 0.00%, unchanged from December 31, 2024 and June 30, 2024. Liquidity As of June 30, 2025, the Company's liquidity ratio was 88.21%, compared to 89.14% at March 31, 2025 and 82.64% at June 30, 2024. The liquidity ratio is calculated as the sum of cash and cash equivalents plus unpledged securities classified as investment grade, divided by total liabilities. Cash, cash equivalents, and unpledged securities totaled $1.1 billion, $1.4 billion and $1.1 billion, respectively, at June 30, 2025, March 31, 2025 and June 30, 2024. Capital As of June 30, 2025, the Company's tangible common equity to tangible total assets ratio was 10.86%, compared to 8.77% at March 31, 2025 and 6.66% at June 30, 2024. The ratio, which is calculated in accordance with GAAP, represents the ratio of common equity to total assets. The Company did not have any goodwill or other intangible assets for the periods presented. The quarter-over-quarter change in this ratio reflects a $281.8 million decline in total assets, as well as the increase in total equity in the second quarter of 2025, arising from retained earnings and a reduction in accumulated other comprehensive loss. In addition to retained earnings growth and a reduction of accumulated other comprehensive loss, the year-over-year increase reflects the net proceeds raised through the IPO and the subsequent partial exercise of the underwriters' over-allotment option. As of June 30, 2025, the Company reported a Tier 1 leverage ratio of 11.45%, a Tier 1 risk-based capital ratio of 43.48%, and a total risk-based capital ratio of 44.64%. As of March 31, 2025, the Company reported a Tier 1 leverage ratio of 9.88%, a Tier 1 risk-based capital ratio of 40.24% and a total risk-based capital ratio of 41.43%. As of June 30, 2024, the Company's Tier 1 leverage ratio stood at 8.30%, the Tier 1 risk-based capital ratio at 26.27% and the total risk-based capital ratio at 27.42%. The quarter-over-quarter increases reflect the reduction in total assets associated with deposit outflows experienced early in the second quarter, as well as additional equity provided by earnings. In addition to a year's accretion of earnings to capital and a reduction in the unrealized fair value loss attributed to the available for sale bond portfolio, the year-over-year increases reflect the equity raised through the IPO and the subsequent partial exercise of the underwriters' over-allotment option. Trust & Wealth Department As of June 30, 2025, the Trust & Wealth Department oversaw total assets under administration ('AUA') of $445.4 million, which included $158.1 million in assets under management ('AUM') and $287.3 million in assets under custody ('AUC'). This compares to $409.4 million in AUA as of March 31, 2025, which included $137.8 million in AUM and $271.6 million in AUC. As of June 30, 2024, AUA stood at $364.0 million, including $98.0 million in AUM and $266.0 million in AUC. The increases in AUA from both the prior quarter and prior year primarily reflect account growth, asset inflows, and the impact of market performance. AUA are not captured on the consolidated balance sheets. Trust and wealth management income, which has increased commensurately with changes in AUA, was $305 thousand in the second quarter of 2025, compared to $270 thousand in the first quarter of 2025 and $239 thousand in the second quarter of 2024. Political Deposit Trends As of June 30, 2025, total consolidated deposits were $1.3 billion, compared to $1.6 billion as of March 31, 2025. During the first quarter of 2025, the Company experienced a material increase in deposits from certain political organization clients, primarily attributable to a post-election surge in deposits following the November 2024 federal elections. At March 31, 2025, three political organization accounts each held more than 5% of total consolidated deposits. In aggregate, those three accounts totaled $472.0 million and represented 30.1% of consolidated total deposits. Although political organization balances have historically tended to rebuild gradually in the quarters following a federal election, the timing and concentration of deposit inflows during the first quarter of 2025 differed from prior cycles. The Company treated these inflows as potentially temporary and maintained the balances in cash reserves held at the Federal Reserve and short-term U.S. Treasury securities that matured during the quarter. On April 15, 2025, the Company experienced outflows of approximately $506.5 million across six political organization accounts, including the three that exceeded the 5% threshold at March 31, 2025. Following these outflows, total consolidated deposits were $1.1 billion at the close of that day. The resulting reduction in average balances contributed to the quarter-over-quarter decrease in net interest income. Despite early-second quarter outflows, deposit levels increased during the remainder of the quarter. Total consolidated deposits rose by $179.8 million between April 15, 2025 and June 30, 2025, ending the quarter at $1.3 billion. As of June 30, 2025, two political organization accounts individually exceeded 5% of total consolidated deposits. For additional information regarding the risks associated with our political organization deposits and deposit concentrations, see the risk factors described under the headings 'Our deposits are concentrated in political organizations' and 'Our deposit base is concentrated among a small number of clients' in Part I, Item 1A ('Risk Factors') in the Company's Annual Report on Form 10-K for the year ended December 31, 2024. About Chain Bridge Bancorp, Inc.: Chain Bridge Bancorp, Inc., a Delaware corporation, is the registered bank holding company for Chain Bridge Bank, National Association. Chain Bridge Bancorp, Inc. is regulated and supervised by the Federal Reserve under the Bank Holding Company Act of 1956, as amended. Chain Bridge Bank, National Association is a national banking association, chartered under the National Bank Act, and is subject to primary regulation, supervision, and examination by the Office of the Comptroller of the Currency. Chain Bridge Bank, National Association is a member of the Federal Deposit Insurance Corporation and provides banking, trust, and wealth management services. For more information, please visit our investor relations website at Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements involve risks and uncertainties. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and, in each case, their negative or other variations or comparable terminology and expressions. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by law. Forward-looking statements include, among other things, statements relating to: (i) changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks or similar organizations, including the effects of United States federal government spending and tariffs; (ii) the level of, or changes in the level of, interest rates and inflation, including the effects on our net interest income, noninterest income, and the market value of our investment and loan portfolios; (iii) the level and composition of our deposits, including our ability to attract and retain, and the seasonality of, client deposits, including those in the ICS ® network, as well as the amount and timing of deposit inflows and outflows and the concentration of our deposits; (iv) our future net interest margin, net interest income, net income, and return on equity; (v) our political organization clients' fundraising and disbursement activities; (vi) the level and composition of our loan portfolio, including our ability to maintain the credit quality of our loan portfolio; (vii) current and future business, economic and market conditions in the United States generally or in the Washington, D.C. metropolitan area in particular; (viii) the effects of disruptions or instability in the financial system, including as a result of the failure of a financial institution or other participants in it, or geopolitical instability, including war, terrorist attacks, pandemics and man-made and natural disasters; (ix) the impact of, and changes, in applicable laws, regulations, regulatory expectations and accounting standards and policies; (x) our likelihood of success in, and the impact of, legal, regulatory or other actions, investigations or proceedings related to our business; (xi) adverse publicity or reputational harm to us, our senior officers, directors, employees or clients; (xii) our ability to effectively execute our growth plans or other initiatives; (xiii) changes in demand for our products and services; (xiv) our levels of, and access to, sources of liquidity and capital; (xv) the ability to attract and retain essential personnel or changes in our essential personnel; (xvi) our ability to effectively compete with banks, nonbank financial institutions, and financial technology firms and the effects of competition in the financial services industry on our business; (xvii) the effectiveness of our risk management and internal disclosure controls and procedures; (xviii) any failure or interruption of our information and technology systems, including any components provided by a third party; (xix) our ability to identify and address cybersecurity threats and breaches; (xx) our ability to keep pace with technological changes; (xxi) our ability to receive dividends from the Bank and satisfy our obligations as they become due; (xxii) the incremental costs of operating as a public company; (xxiii) our ability to meet our obligations as a public company, including our obligation under Section 404 of the Sarbanes-Oxley Act; and (xxiv) the effect of our dual-class structure and the concentrated ownership of our Class B common stock, including beneficial ownership of our shares by members of the Fitzgerald Family. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including the risks described in the 'Risk Factors' section of the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2024, available at the Securities and Exchange Commission's website ( (unaudited) As of or For the Three Months Ended As of or For the Six Months Ended Key Performance Indicators Net income $ 4,584 $ 5,607 $ 5,805 $ 10,191 $ 9,722 Return on average assets 1 1.30 % 1.43 % 1.87 % 1.37 % 1.64 % Return on average risk-weighted assets 1,2 4.79 % 5.74 % 5.77 % 5.28 % 4.81 % Return on average equity 1 11.93 % 15.39 % 25.82 % 13.61 % 22.20 % Yield on average interest-earning assets 1,3 3.67 % 3.79 % 3.73 % 3.73 % 3.61 % Cost of funds 1,4 0.31 % 0.25 % 0.32 % 0.28 % 0.33 % Net interest margin 1,5 3.39 % 3.56 % 3.43 % 3.48 % 3.30 % Efficiency ratio 6 56.71 % 52.06 % 45.48 % 54.22 % 49.68 % Balance Sheet and Other Highlights Total assets $ 1,445,127 $ 1,726,860 $ 1,412,017 $ 1,445,127 $ 1,412,017 Interest-bearing reserves held at the Federal Reserve 7 364,841 620,270 471,170 364,841 471,170 Total debt securities 8 758,497 774,605 600,739 758,497 600,739 U.S. Treasury securities 8 426,193 437,950 244,246 426,193 244,246 Total gross loans 9 287,813 302,002 305,305 287,813 305,305 Total deposits 1,281,915 1,568,392 1,303,340 1,281,915 1,303,340 ICS ® One-Way Sell ® Deposits Total ICS ® One-Way Sell ® Deposits 10 $ 121,171 $ 93,189 $ 499,247 $ 121,171 $ 499,247 Fiduciary Assets Trust & Wealth Department: Total assets under administration (AUA) $ 445,364 $ 409,389 $ 364,020 $ 445,364 $ 364,020 Assets under management (AUM) 158,082 137,823 98,035 158,082 98,035 Assets under custody (AUC) 287,282 271,566 265,985 287,282 265,985 Liquidity & Asset Quality Metrics Liquidity ratio 11 88.21 % 89.14 % 82.64 % 88.21 % 82.64 % Loan-to-deposit ratio 22.45 % 19.26 % 23.42 % 22.45 % 23.42 % Non-performing assets to total assets — % — % — % — % — % Net charge offs (recoveries) / average loans outstanding — % — % — % — % — % Allowance for credit losses on loans to gross loans outstanding 1.46 % 1.48 % 1.42 % 1.46 % 1.42 % Allowance for credit losses on held to maturity securities /gross held to maturity securities 0.05 % 0.06 % 0.08 % 0.05 % 0.08 % 1 Ratios for interim periods are presented on an annualized basis. 2 Return on average risk-weighted assets is calculated as net income divided by average risk-weighted assets. Average risk-weighted assets are calculated using the last two quarter ends with respect to the three-month periods presented, and the last three quarter ends with respect to the six-month periods presented. 3 Yield on average interest-earning assets is calculated as total interest and dividend income divided by average interest-earning assets. 4 Cost of funds is calculated as total interest expense divided by the sum of average total interest-bearing liabilities and average demand deposits. 5 Net interest margin is net interest income expressed as a percentage of average interest-earning assets. 6 Efficiency ratio is calculated as non-interest expense divided by the sum of net interest income and non-interest income. 7 Included in 'interest-bearing deposits in other banks' on the consolidated balance sheets. 8 Total debt securities and U.S. Treasury securities are calculated as the sum of securities available for sale (AFS) and securities held to maturity (HTM). AFS securities are reported at fair value, and held to maturity securities are reported at carrying value, net of allowance for credit losses. 9 Includes loans held for sale. 10 IntraFi Cash Service (ICS ®) One-Way Sell ® are deposits placed at other banks through the ICS ® network. One-Way Sell ® deposits are not included in the total deposits on the Company's consolidated balance sheets. The Bank has the flexibility, subject to the terms and conditions of the IntraFi Participating Institution Agreement, to convert these One-Way Sell ® deposits into reciprocal deposits which would then appear on the Company's consolidated balance sheets. 11 Liquidity ratio is calculated as the sum of cash and cash equivalents and unpledged investment grade securities, expressed as a percentage of total liabilities. Chain Bridge Bancorp, Inc. and Subsidiary Consolidated Financial Highlights (Dollars in thousands, except per share data) (unaudited) As of or For the Three Months Ended As of or For the Six Months Ended June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Capital Information 12 Tangible common equity to tangible total assets ratio 13 10.86 % 8.77 % 6.66 % 10.86 % 6.66 % Tier 1 capital $ 162,682 $ 158,098 $ 104,736 $ 162,683 $ 104,736 Tier 1 leverage ratio 11.45 % 9.88 % 8.30 % 11.45 % 8.30 % Tier 1 risk-based capital ratio 43.48 % 40.24 % 26.27 % 43.48 % 26.27 % Total regulatory capital $ 167,019 $ 162,748 $ 109,321 $ 167,019 $ 109,321 Total risk-based regulatory capital ratio 44.64 % 41.43 % 27.42 % 44.64 % 27.42 % Double leverage ratio 14 91.50 % 91.41 % 110.56 % 91.50 % 110.56 % Chain Bridge Bancorp, Inc. Share Information (as adjusted for Reclassification) 15 Number of shares outstanding 6,561,817 6,561,817 4,568,920 6,561,817 4,568,920 Class A number of shares outstanding 3,143,846 3,119,317 — 3,143,846 — Class B number of shares outstanding 3,417,971 3,442,500 4,568,920 3,417,971 4,568,920 Book value per share $ 23.92 $ 23.09 $ 20.57 $ 23.92 $ 20.57 Earnings per share, basic and diluted $ 0.70 $ 0.85 $ 1.27 $ 1.55 $ 2.13 Expand 12 Company-level capital information is calculated in accordance with banking regulatory accounting principles specified by regulatory agencies for supervisory reporting purposes. 13 The ratio of tangible common equity to tangible total assets is calculated in accordance with GAAP and represents common equity divided by total assets. The Company did not have any goodwill or other intangible assets for the periods presented. 14 Double leverage ratio represents Chain Bridge Bancorp, Inc.'s investment in Chain Bridge Bank, N.A. divided by Chain Bridge Bancorp, Inc.'s consolidated equity. 15 On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, par value $1.00 per share into 170 shares of Class B Common Stock (the "Reclassification"). Historical share information is presented on an as adjusted basis giving effect to the Reclassification. The number of basic and diluted weighted average shares used in computing earnings per share are the same because there are no potentially dilutive instruments. Expand Chain Bridge Bancorp, Inc. and Subsidiary Consolidated Balance Sheets (Dollars in thousands, except per share data) (unaudited) June 30, 2025 December 31, 2024 16 June 30, 2024 Assets Cash and due from banks $ 11,586 $ 3,056 $ 13,503 Interest-bearing deposits in other banks 365,678 407,683 474,522 Total cash and cash equivalents 377,264 410,739 488,025 Securities available for sale, at fair value 469,292 358,329 292,770 Securities held to maturity, at carrying value, net of allowance for credit losses of $144, $202, and $248 respectively (fair value of $274,066, $278,951 and $282,208, respectively) 289,205 300,451 307,969 Equity securities, at fair value 532 515 505 Restricted securities, at cost 3,383 2,886 2,736 Loans held for sale — 316 590 Loans, net of allowance for credit losses of $4,193, $4,514 and $4,337, respectively 283,620 308,773 300,378 Premises and equipment, net of accumulated depreciation of $7,523, $7,285, and $7,042, respectively 11,858 9,587 9,706 Accrued interest receivable 5,357 4,231 4,438 Other assets 4,616 5,297 4,900 Total assets $ 1,445,127 $ 1,401,124 $ 1,412,017 Liabilities and stockholders' equity Liabilities Deposits: Noninterest-bearing $ 894,968 $ 913,379 $ 1,078,145 Savings, interest-bearing checking and money market accounts 376,961 324,845 213,124 Time, $250 and over 5,032 6,510 6,559 Other time 4,954 5,201 5,512 Total deposits 1,281,915 1,249,935 1,303,340 Short-term borrowings — — 10,000 Accrued interest payable 82 46 91 Accrued expenses and other liabilities 6,182 6,897 4,593 Total liabilities 1,288,179 1,256,878 1,318,024 Commitments and contingencies Stockholders' equity Preferred Stock: 17 No par value, 10,000,000 shares authorized, no shares issued and outstanding — — — Class A Common Stock: 17 $0.01 par value, 20,000,000 shares authorized, 3,143,846, 3,049,447, and no shares issued and outstanding, respectively 31 30 — Class B Common Stock: 17 $0.01 par value, 10,000,000 shares authorized, 3,417,971, 3,512,370, and 4,568,920 shares issued and outstanding, respectively 34 35 46 Additional paid-in capital 74,785 74,785 38,276 Retained earnings 87,832 77,641 66,414 Accumulated other comprehensive loss (5,734 ) (8,245 ) (10,743 ) Total stockholders' equity 156,948 144,246 93,993 Total liabilities and stockholders' equity $ 1,445,127 $ 1,401,124 $ 1,412,017 Expand 16 Derived from audited financial statements. 17 On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, into 170 shares of Class B Common Stock (the 'Reclassification'). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Historical share information is presented on an as adjusted basis giving effect to the Reclassification. All shares and balances from previously held common stock are reflected in Class B Common Stock. Expand Chain Bridge Bancorp, Inc. and Subsidiary Consolidated Statements of Income (Dollars in thousands, except per share data) (unaudited) Three Months Ended Six Months Ended June 30, 2025 March 31, 2025 June 30, 2025 June 30, 2024 Interest and dividend income Interest and fees on loans $ 3,356 $ 3,589 $ 3,391 $ 6,945 $ 6,671 Interest and dividends on securities, taxable 5,274 4,607 2,872 9,881 5,738 Interest on securities, tax-exempt 279 282 285 561 579 Interest on interest-bearing deposits in banks 3,856 6,263 4,943 10,119 8,202 Total interest and dividend income 12,765 14,741 11,491 27,506 21,190 Interest expense Interest on deposits 971 893 815 1,864 1,623 Interest on short-term borrowings — — 102 — 201 Total interest expense 971 893 917 1,864 1,824 Net interest income 11,794 13,848 10,574 25,642 19,366 Provision for (recapture of) credit losses Provision for (recapture of) loan credit losses (283 ) (38 ) 13 (321 ) 18 Provision for (recapture of) securities credit losses (31 ) (27 ) (111 ) (58 ) (310 ) Total provision for (recapture of) credit losses (314 ) (65 ) (98 ) (379 ) (292 ) Net interest income after provision for (recapture of) credit losses 12,108 13,913 10,672 26,021 19,658 Noninterest income Trust and wealth management 305 270 239 575 426 Service charges on accounts 261 240 321 501 632 Deposit placement services 159 133 2,031 292 3,153 Gain on sale of mortgage loans 14 13 12 27 12 Other income 89 39 27 128 55 Total noninterest income 828 695 2,630 1,523 4,278 Noninterest expenses Salaries and employee benefits 4,130 4,408 3,788 8,538 7,273 Professional services 801 893 483 1,694 948 Data processing and communication expenses 733 666 664 1,399 1,259 State franchise taxes 349 351 148 700 351 Occupancy and equipment expenses 258 251 237 509 512 FDIC and regulatory assessments 202 228 155 430 348 Insurance expenses 153 149 60 302 120 Directors fees 144 146 171 290 332 Other operating expenses 389 479 299 868 603 Total noninterest expenses 7,159 7,571 6,005 14,730 11,746 Net income before taxes 5,777 7,037 7,297 12,814 12,190 Income tax expense 1,193 1,430 1,492 2,623 2,468 Net income $ 4,584 $ 5,607 $ 5,805 $ 10,191 $ 9,722 Earnings per common share, basic and diluted - Class A and Class B 18 $ 0.70 $ 0.85 $ 1.27 $ 1.55 $ 2.13 Weighted average common shares outstanding, basic and diluted - Class A 18 3,125,918 3,088,810 — 3,107,466 — Weighted average common shares outstanding, basic and diluted - Class B 18 3,435,899 3,473,007 4,568,920 3,454,351 4,568,791 Expand 18 Share information presented prior to the Reclassification date of October 3, 2024 gives effect to the Reclassification and attributes all earnings to Class B shares because no Class A shares were outstanding prior to the Reclassification. The number of basic and diluted shares are the same because there are no potentially dilutive instruments. Except in regard to voting and conversion rights, the rights of Class A Common Stock and Class B Common Stock are identical, and the classes rank equally and share ratably with regard to all other matters. Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock. Expand The following tables show the average outstanding balance of each principal category of our assets, liabilities and stockholders' equity, together with the average yields on our interest-earning assets and the average costs of our interest-bearing liabilities for the periods indicated. Such yields and costs are calculated by dividing the annualized income or expense by the average daily balances of the corresponding assets or liabilities for the same period. Chain Bridge Bancorp, Inc. and Subsidiary Average Balance Sheets, Interest, and Yields/Costs (continued) (unaudited) Six months ended June 30, 2025 2024 ($ in thousands) Average balance Interest Average yield/cost Average balance Interest Average yield/cost Assets: Interest-earning assets: Interest-bearing deposits in other banks $ 455,516 $ 10,119 4.48 % $ 300,347 $ 8,202 5.49 % Investment securities, taxable 19 665,902 9,881 2.99 % 512,174 5,738 2.25 % Investment securities, tax-exempt 1 63,487 561 1.78 % 64,106 579 1.82 % Loans 301,666 6,945 4.64 % 303,022 6,671 4.43 % Total interest-earning assets 1,486,571 27,506 3.73 % 1,179,649 21,190 3.61 % Less allowance for credit losses (4,680 ) (4,676 ) Noninterest-earning assets 20,493 15,445 Total assets $ 1,502,384 $ 1,190,418 Liabilities and Stockholders' Equity Interest-bearing liabilities: Savings, interest-bearing checking and money market $ 338,454 $ 1,719 1.02 % $ 228,616 $ 1,406 1.24 % Time deposits 10,927 145 2.67 % 14,934 217 2.92 % Short term borrowings 2 4 — 5.35 % 5,110 201 7.91 % Total interest-bearing liabilities 349,385 1,864 1.08 % 248,660 1,824 1.48 % Non-interest-bearing liabilities: Demand deposits 995,388 848,719 Other liabilities 6,621 4,976 Total liabilities 1,351,394 1,102,355 Stockholders' equity 150,990 88,063 Total liabilities and stockholders' equity $ 1,502,384 $ 1,190,418 Net interest income $ 25,642 $ 19,366 Net interest margin 3.48 % 3.30 % Expand 19 Average balances for securities transferred from AFS to HTM at fair value are shown at carrying value. Average balances for AFS are shown at fair value, and all other HTM bonds are shown at amortized cost. 20 The yield for short term borrowings reflects interest expense incurred during the period. The amount of interest expense was less than our rounding threshold and is therefore displayed as $0. Expand
Yahoo
01-07-2025
- Business
- Yahoo
Ohio Valley Banc Corp. Joins Russell 3000 Index
GALLIPOLIS, Ohio, July 1, 2025 /PRNewswire/ -- Ohio Valley Banc Corp. [Nasdaq: OVBC] was added as a member of the broad-market Russell 3000® Index, effective after the US market opened June 30 as part of the 2025 Russell indexes' reconstitution. Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means Ohio Valley Banc Corp. is also included in the small-cap Russell 2000® Index as well as appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell Index mutual funds are required to own the shares of the member companies' stock. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. Fiona Bassett, CEO of FTSE Russell, an LSEG business, comments: "The Russell indexes have continuously adapted to the evolving dynamic US economy, and it's crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain accurate representation of the market. The transition to a semi-annual reconstitution frequency from 2026 will ensure our indexes continue to represent the market and maintain the purpose of the index as a profitable benchmark." Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The company owns The Ohio Valley Bank Company, with 17 offices in Ohio and West Virginia, and Loan Central, Inc., with six consumer finance offices in Ohio. Learn more about Ohio Valley Banc Corp. at Contact: Bryna Butler, 740-578-3400, bsbutler@ View original content to download multimedia: SOURCE Ohio Valley Banc Corp.
Yahoo
01-07-2025
- Business
- Yahoo
The Arena Group Joins Russell 2000® Index
NEW YORK, July 01, 2025--(BUSINESS WIRE)--The Arena Group Holdings, Inc. (NYSE American: AREN) ("Arena"), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more, today announced it has been added as a member of the Russell 2000® Index, effective as of June 30, 2025 as part of the 2025 Russell U.S. Indexes reconstitution. Membership in the Russell 2000® Index reflects inclusion in the broader Russell 3000® Index, which captures the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization. Companies are also included in the appropriate growth and value style indexes as well. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. "Being added to the Russell 2000® Index reflects the tangible progress we've made in strengthening our business and delivering shareholder value," said Paul Edmondson, CEO of The Arena Group. "Our inclusion is the result of growth in our market capitalization – driven by improved profitability and the momentum we've built through investing in our brands and adopting a more efficient, performance-based publishing model that is generating results. We believe this milestone will help broaden our visibility among investors as we continue to execute." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, approximately $10.6 trillion in assets are benchmarked against the Russell U.S. indexes which belong to FTSE Russell, the global index provider. For more information on the Russell 2000® and 3000® Indexes and the Russell indexes reconstitution, visit the FTSE Russell website at About The Arena Group The Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more to build their businesses. The company aggregates content across a diverse portfolio of brands, reaching over 100 million users monthly. Visit us at and discover how we are revolutionizing the world of digital media. Forward Looking Statements This press release includes statements that constitute forward-looking statements. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, and include, for example, statements related to the Company's anticipated future expenses and investments, business strategy and plans, expectations relating to its industry, market conditions and market trends and growth, market position and potential market opportunities, and objectives for future operations. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the ability of the Company to expand its verticals; the Company's ability to grow its subscribers; the Company's ability to grow its advertising revenue; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that the Company could take to reduce operating costs; the remaining effects of the COVID-19 pandemic and impact on the demand for the Company products; the inability of the Company to sustain profitable sales growth; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by the Company in its public filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. View source version on Contacts Investor Relations Contact Rob Fink, FNK IRaren@ 646.809.4048The Arena Group Contact Steve Janissec-sjanisse@ 404.574.9206 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
01-07-2025
- Business
- Business Wire
The Arena Group Joins Russell 2000 ® Index
NEW YORK--(BUSINESS WIRE)-- The Arena Group Holdings, Inc. (NYSE American: AREN) ('Arena'), a technology platform and media company home to hundreds of media brands, including TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more, today announced it has been added as a member of the Russell 2000 ® Index, effective as of June 30, 2025 as part of the 2025 Russell U.S. Indexes reconstitution. Membership in the Russell 2000 ® Index reflects inclusion in the broader Russell 3000 ® Index, which captures the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization. Companies are also included in the appropriate growth and value style indexes as well. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. 'Being added to the Russell 2000 ® Index reflects the tangible progress we've made in strengthening our business and delivering shareholder value,' said Paul Edmondson, CEO of The Arena Group. 'Our inclusion is the result of growth in our market capitalization – driven by improved profitability and the momentum we've built through investing in our brands and adopting a more efficient, performance-based publishing model that is generating results. We believe this milestone will help broaden our visibility among investors as we continue to execute.' Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, approximately $10.6 trillion in assets are benchmarked against the Russell U.S. indexes which belong to FTSE Russell, the global index provider. For more information on the Russell 2000 ® and 3000 ® Indexes and the Russell indexes reconstitution, visit the FTSE Russell website at About The Arena Group The Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like TheStreet, Parade, Men's Journal, Athlon Sports, Surfer, Powder and more to build their businesses. The company aggregates content across a diverse portfolio of brands, reaching over 100 million users monthly. Visit us at and discover how we are revolutionizing the world of digital media. Forward Looking Statements This press release includes statements that constitute forward-looking statements. Forward-looking statements may be identified by the use of words such as 'forecast,' 'guidance,' 'plan,' 'estimate,' 'will,' 'would,' 'project,' 'maintain,' 'intend,' 'expect,' 'anticipate,' 'prospect,' 'strategy,' 'future,' 'likely,' 'may,' 'should,' 'believe,' 'continue,' 'opportunity,' 'potential,' and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, and include, for example, statements related to the Company's anticipated future expenses and investments, business strategy and plans, expectations relating to its industry, market conditions and market trends and growth, market position and potential market opportunities, and objectives for future operations. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the ability of the Company to expand its verticals; the Company's ability to grow its subscribers; the Company's ability to grow its advertising revenue; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that the Company could take to reduce operating costs; the remaining effects of the COVID-19 pandemic and impact on the demand for the Company products; the inability of the Company to sustain profitable sales growth; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by the Company in its public filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
