Day: 1 February 2024

TAMPA, FL / ACCESSWIRE / February 1, 2024 / The Mosaic Company (NYSE:MOS) plans to release fourth quarter and full year 2023 earnings results on Wednesday, February 21, after close of trading on the New York Stock Exchange. The company will issue a news wire alert when earnings materials are publicly available on the company’s website.

On Thursday, February 22, beginning at 11:00 a.m. Eastern Time, the company will host a conference call to discuss the results and answer questions submitted via email. Phone lines will be opened to allow for additional questions. A webcast of the conference call can be accessed by visiting Mosaic’s website, and an audio replay of the call will be available on the website for up to one year from the time of the earnings call.

Conference Call Details:

Link to Webcast of the Conference Call:

https://investors.mosaicco.com/events-and-presentations/default.aspx

The Mosaic Company will participate in the Bank of America Global Agriculture and Materials Conference, February 28-29, 2024, in Fort Lauderdale, Florida.

About The Mosaic Company
The Mosaic Company is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

Contacts:

SOURCE: The Mosaic Company

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NORTHAMPTON, MA / ACCESSWIRE / February 1, 2024 / Case IH, a brand of CNH, recently capitalized on the Agricultural Engineering Innovation Forum at this year’s International Green Week in Berlin. At the Forum, CNH reinforced its role in resolving challenges in agriculture by assisting farmers in boosting productivity and profitability, whilst generating additional value and promoting resource conservation.

"Together with other well-known agritech businesses, we are seeking in-depth dialogue with consumers and decision-makers in politics and institutions at the Farm Experience in Hall 3.2 of International Green Week," says Marc-Peter Bormann, Managing Director of CNH Deutschland GmbH.

"Agricultural engineering plays a crucial role in promoting resource-efficient, productive, and profitable farming. However, the benefits of agritech extend beyond the agricultural sector, profoundly impacting society. We intend to spotlight this impact by providing concrete examples on this occasion."

Case IH showcased their technological prowess at the Forum by focusing on their tech that increases efficiency, uses smart sensors and artificial intelligence, and enhances digital connectedness. From their new baler automation system to the Farmall 75C, attending this event is a testament to CNH’s commitment to sustainable products and innovation for the future of farming.

Attending this event is a testament to CNH’s commitment to sustainable products and innovation for the future of farming

View additional multimedia and more ESG storytelling from CNH Industrial on 3blmedia.com.

Contact Info:
Spokesperson: CNH Industrial
Website: https://www.3blmedia.com/profiles/cnh-industrial
Email: info@3blmedia.com

SOURCE: CNH Industrial

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VANCOUVER, BC / ACCESSWIRE / February 1, 2024 / Victory Battery Metals (CSE:VR)(FWB:VR6)(OTC PINK:VRCFF) ("Victory" or the "Company") announced today that it has cancelled a total of 2,401,665 stock options, including 786,666 to insiders as they were no longer serving their purpose in aligning the interest of the holders with those of shareholders.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com

About Victory Battery Metals

VICTORY BATTERY METALS (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.

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

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds,corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost andplans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as"plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward- looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Battery Metals Corp.

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HUNTSVILLE, AL / ACCESSWIRE / February 1, 2024 / Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland"), a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state, and local levels, today announced that its Board of Directors declared a cash dividend for its fiscal first quarter of 2025 of $0.03 per share. The dividend will be paid on February 22, 2024, to stockholders of record as of February 15, 2024.

About Lakeland Industries, Inc.

We manufacture and sell a comprehensive line of industrial protective clothing and accessories for the industrial and public protective clothing market. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a network of over 2,000 global safety and industrial supply distributors. Our authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, such as fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mixture of end users directly, and to industrial distributors depending on the particular country and market. In addition to the United States, sales are made into more than 50 foreign countries, the majority of which were into China, the European Economic Community ("EEC"), Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Uruguay, Middle East and Southeast Asia.

For more information concerning Lakeland, please visit the Company online at www.lakeland.com.

Contacts:
Lakeland Industries, Inc.
256-600-1390
Roger Shannon
rdshannon@lakeland.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, which address Lakeland’s expectations of sources or uses for capital or which express the Company’s expectation for the future with respect to financial performance or operating strategies, including statements regarding payment of a quarterly dividend, can be identified as forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. As a result, there can be no assurance that Lakeland’s future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "can," "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which such statement is based, except as may be required by law.

SOURCE: Lakeland Industries, Inc.

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LAVAL, QC / ACCESSWIRE / February 1, 2024 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) today announced, as part of its ongoing commitment to board refreshment and board diversity, its nomination of two independent and diverse candidates to stand for election to its Board of Directors at the Company’s 2024 Annual Meeting of Shareholders: Christian A. Garcia, Former Executive Vice President and Chief Financial Officer of BrandSafway Industries, LLC, and Frank D. Lee, Chief Executive Officer of Pacira Biosciences, Inc.

In addition, Russel C. Robertson and Thomas W. Ross, Sr. will be retiring from the Board and will not stand for re-election at the Company’s 2024 Annual Meeting. They will, however, continue to serve on the Board of Bausch + Lomb Corporation. Messrs. Robertson and Ross have served as members of the Board since 2016. To fill the resulting committee vacancies, subject to the election of Messrs. Garcia and Lee to the Board, the Company expects that Mr. Garcia will serve as the Audit and Risk Committee chair and Mr. Lee will serve on the Talent and Compensation Committee. Mr. Lee is also expected to serve on the Science and Technology Committee.

"The nomination of these two new independent directors demonstrates Bausch Health’s ongoing commitment to refreshment, excellence and board diversity," John A. Paulson, Chairperson of the Bausch Health Board, said. "Additionally, I want to thank Russ and Tom, two long-term, valued members of our Board, who helped navigate the Company through periods of significant change. Their service to the Company has been greatly appreciated."

Bausch Health’s 2024 Annual Meeting has not yet been scheduled. Additional information regarding Messrs. Garcia and Lee, as well as the Company’s other director nominees, will be included in the Company’s proxy statement for its 2024 Annual Meeting, when available.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX:BHC) is a global diversified pharmaceutical company enriching lives through our relentless drive to deliver better health outcomes. We develop, manufacture and market a range of products, primarily in gastroenterology, hepatology, neurology, dermatology, medical aesthetic devices, international pharmaceuticals, and eye health, through our controlling interest in Bausch + Lomb. Our ambition is to be a globally integrated healthcare company, trusted and valued by patients, HCPs, employees and investors. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements

This news release may contain forward-looking statements about the future performance of Bausch Health which may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "subject to" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health’s overall business, including those more fully described in Bausch Health’s most recent annual report on Form 10-K and detailed from time to time in Bausch Health’s other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference.

Investor Contact:

ir@bauschhealth.com
(908) 541-2102
(877) 281-6642 (toll free)

Media Contacts:

Kevin Wiggins
corporate.communications@bauschhealth.com
(908) 541-3785

SOURCE: Bausch Health Companies Inc.

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BAKERSFIELD, CA / ACCESSWIRE / February 1, 2024 / Love Water has been invited to present at Integrous Communications Big Hearts, Big Ideas Virtual Investor Conference, which is being held virtually on February 13-15th, 2024.

Jake Sherley, Founder and President is scheduled to present on Tuesday, February 13, 2024 (1:30 PM EST).

The presentation will be webcast live and available for replay via the following link: https://www.webcaster4.com/Webcast/Page/3017/49817

Management will also be available for one-on-one meetings to be held throughout the conference and can be requested through the conference site.

To register for the event, Investors can go to the conference link: Big Hearts, Big Ideas Growth Virtual Conference

About Love Water

With amazing support from here in the US and abroad, and our amazing partners in the field, in our
short existence we have been able to provide over 500 communities, several schools and health
clinics, access to clean water through a major water source project. We have provided over 1,800
families with bio sand filters directly into their homes and have reached nearly 420,000 people with access to clean water through our various projects.

About the Integrous Big Hearts, Big Ideas Growth Conference

Welcome to the 2024 Integrous Big Hearts, Big Ideas Growth Virtual Conference, where the nexus of innovation, big investment ideas and charitable giving all converge in a dynamic digital space.

The focus of this conference is to present smaller market cap companies that we believe are poised to be much bigger due to innovation, positioning, and increased visibility.

At the same time, we want to demonstrate compassion and realize that while we can pursue profits in our portfolios, giving back pays dividends in ways that benefit humanity and society. We truly believe that the two do go hand in hand.

Step into the future with us at the 2024 Integrous Big Hearts, Big Ideas Growth Conference, an unparalleled gathering where the pulse of innovation harmonizes with the rhythm of investment and charitable giving on a virtual platform.

Our carefully curated agenda features thought leaders, industry pioneers, and visionaries who will share insights on the latest trends, disruptive technologies, and emerging market dynamics that are shaping the future.

The conference will consist of company presentations (Public, and a select few Private), 1×1’s, as well as presentations from some selected charities that we would like to highlight.

As we navigate the intersection of innovation, investment and giving, the conference aims to spark opportunities for growth. Join us in this digital format where ideas take flight, investments find purpose, and the future unfolds in real-time.

Welcome to a revolution in connectivity, where the 2024 Integrous Big Hearts, Big Ideas Growth Conference sets the stage for a new era of investment, inspiration, and progress.

For event information: Events@Integcom.us

Love Water Contact:

Founder and President
jake@lovewater.org

SOURCE: Love Water

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LAKEWOOD, NJ / ACCESSWIRE / February 1, 2024 / First Commerce Bancorp, Inc., (OTC PINK:CMRB), (the "Company"), today reported net income of $5.8 million and basic earnings per common share of $0.25 for the three months ended December 31, 2023, as compared to net income of $4.0 million and basic earnings per common share of $0.17 for the three months ended December 31, 2022. For the fiscal year ended December 31, 2023, net income was $13.8 million and basic earnings per common share of $0.58, as compared to net income of $16.6 million and basic earnings per common share of $0.70 for the fiscal year ended December 31, 2022.

The Company’s Board of Directors declared a quarterly cash dividend of $0.04 per common share payable on February 20, 2024 to shareholders of record on February 6, 2024.

Regarding the year-end financial results, President & CEO Donald Mindiak commented, "Despite a challenging year that saw material disruptions in the banking industry as a result of liquidity concerns, the failure of several mid-size regional financial institutions, an inverted yield curve and continuing inflation, First Commerce Bank stayed true to its mission of a measured balance sheet and loan growth through prudent loan underwriting consistent with our strong capital base. Funding for loan growth occurred through growth in both deposits and wholesale borrowings appropriately laddered. Net interest margin compression continues to be challenging, however our recently opened office in Jackson, New Jersey boasts deposits of over $20.0 million after only four months of being open."

He continued, "A continued evaluation of our CECL Model and a corresponding review of the qualitative and quantitative factors resulted in a reduction of our year-end Allowance for Credit Losses consistent with the risk profile of the Bank’s loan and investment portfolio. Diligent attention to non-interest expenses resulted in only a slight increase year-over-year and the management of this metric will continue to be engaged. Lastly, the Board and Management will continue to structure a balance sheet with a strong capital base, managing various forms of risk judiciously while generating competitive returns for our shareholders."

Financial Highlights

• Net interest margin decreased by 134 basis points to 2.51% for the fourth quarter of 2023 as compared to 3.85% for the fourth quarter of 2022 and decreased by 110 basis points to 2.92% at year-end 2023 as compared to 4.02% at year-end 2022.
• Total yield on interest earning assets increased by forty-three basis points to 5.43% for the fourth quarter of 2023 as compared to 5.00% for the fourth quarter of 2022 and increased by seventy-six basis points to 5.35% at year-end 2023 as compared to 4.59% at year-end 2022.
• Total cost of interest-bearing liabilities increased by 213 basis points to 3.78% for the fourth quarter of 2023 compared to 1.65% for the fourth quarter of 2022 and increased by 241 basis points to 3.25% at year-end 2023 as compared to 0.84% at year-end 2022.
• The efficiency ratio for the year ended December 31, 2023 was 66.97% as compared to 55.01% for the year ended December 31, 2022.
• Total loans receivable increased by $133.1 million or 11.9% to $1.25 billion at December 31, 2023, as compared to $1.1 billion at December 31, 2022.
• Total deposits increased by $71.3 million or 6.9% to $1.11 billion at December 31, 2023, as compared to $1.04 billion at December 31, 2022.
• The annualized return on average total assets was 0.99% at December 31, 2023 compared to 1.38% at December 31, 2022.
• The annualized return on average shareholders’ equity was 7.51% at December 31, 2023 compared to 9.28% at December 31, 2022.
• The book value per common share was $8.06 at December 31, 2023 compared to $7.58 at December 31, 2022.

Balance Sheet Review

Total assets increased by $144.0 million or 11.1% to $1.44 billion at December 31, 2023 from $1.29 billion at December 31, 2022. The increase in total assets was primarily related to increases in total cash and cash equivalents and total loans, partially offset by decreases in total investment securities and other real estate owned ("OREO").

Total cash and cash equivalents increased by $19.1 million or 44.9% to $61.7 million at December 31, 2023 from $42.6 million at December 31, 2022. This increase was primarily due to an increase in total deposits.

Total loans receivable, net of allowance for credit losses, increased by $136.5 million or 12.4% to $1.24 billion at December 31, 2023 from $1.10 billion at December 31, 2022. This increase occurred primarily as a result of a $126.9 million increase in commercial mortgages, a $12.3 million increase in construction loans and a $384,000 increase in Small Business Administration loans, partially offset by a $4.6 million decrease in commercial loans and a $1.1 million decrease in home equity loans. The allowance for credit losses decreased by $3.3 million or 18.6% to $14.5 million or 1.16% of gross loans at December 31, 2023 as compared to $17.8 million or 1.59% of gross loans at December 31, 2022.

Total investment securities decreased by $10.6 million or 13.3% to $69.1 million at December 31, 2023 from $79.7 million at December 31, 2022. The decrease in investment securities resulted primarily from $10.3 million in total paydowns of investment securities and $5.1 million in maturities, partially offset by $4.8 million in purchases.

Total deposits increased by $71.3 million or 6.9% to $1.11 billion at December 31, 2023 from $1.04 billion at December 31, 2022. The increase in total deposits occurred primarily as a result of a $61.9 million increase in time deposits, a $70.0 million increase in brokered time deposits, a $19.0 million increase in money market deposits and a $5.9 million increase in interest bearing checking deposits, partially offset by decreases of $47.5 million in noninterest-bearing demand deposits, $35.7 million in savings deposits and a $2.3 million in NOW deposits as customers move into high-yielding deposit products.

Shareholders’ equity increased by $3.6 million or 2.0% to $184.0 million at December 31, 2023 from $180.4 million at December 31, 2022. The increase in shareholders’ equity was primarily attributable to an increase in retained earnings of $10.0 million and an increase of $433,000 in additional paid in capital as a result of the exercise of certain stock options, partially offset by $7.0 million in share repurchases and a decrease of $109,000 in accumulated other comprehensive loss. During the year 2023, the Company repurchased 1.0 million shares for approximately $7.0 million, or a weighted average price of $6.78 per share.

Three Months of Operations

Net interest income decreased by $3.0 million or 25.4% to $8.8 million for the three months ended December 31, 2023 from $11.8 million for the three months ended December 31, 2022. The decrease in net interest income was primarily due to a significant increase in the cost of interest-bearing liabilities.

Total interest income increased by $3.7 million or 24.0% to $19.0 million for the three months ended December 31, 2023 from $15.3 million for the three months ended December 31, 2022. Interest income on loans, including fees, increased $3.2 million or 22.5% to $17.7 million for the three months ended December 31, 2023 compared to $14.4 million for the three months December 31, 2022. The increase in interest income from loans, including fees, resulted primarily from an increase in the average balance of loans receivable of $165.2 million or 15.1% to $1.26 billion for the three months ended December 31, 2023 compared to $1.09 billion for the three months ended December 31, 2022 and an increase of thirty-three basis points in the average yield on loans to 5.56% for the three months ended December 31, 2023 compared to 5.23% for the same period in the prior year. Interest income on interest-bearing deposits with banks increased $327,000 or 121.0% to $598,000 for the three months ended December 31, 2023 as compared to $271,000 for the same period in the prior year. This increase resulted from a significantly higher average yield on interest-bearing deposits with banks of 4.83% for the three months ended December 31, 2023 compared to 3.09% for the same period in the prior year, and an increase of $14.4 million in average balances of interest-bearing deposits with banks year over year.

Total interest expense increased by $6.7 million or 189.3% to $10.2 million for the three months ended December 31, 2023 from $3.5 million for the three months ended December 31, 2022. The increase in interest expense occurred primarily as a result of a 213 basis points increase in the average cost of interest-bearing liabilities to 3.78% for the three months ended December 31, 2023 from 1.65% for the three months ended December 31, 2022 and an increase in average balance of interest-bearing liabilities of $225.1 million or 26.7%, to $1.07 billion for the three months ended December 31, 2023 from $844.6 million for the three months ended December 31, 2022. The increase in average balance of interest-bearing liabilities included a $160.6 million increase in average interest-bearing deposit liabilities and a $64.5 million increase in average wholesale borrowings for the three months ended December 31, 2023. The increase in the average cost of interest-bearing liabilities resulted primarily from a significant increase in market interest rates over the past several quarters. The increase in interest-bearing liabilities was primarily used to support loan growth.

During the fourth quarter of 2023, the Company recorded a $5.7 million benefit to the provision (benefit) for credit losses as compared to a $114,000 benefit for the same period in the prior year. Management has continued to evaluate the Current Expected Credit Losses ("CECL") model since its adoption in the beginning of the year 2023. Given Management’s fourth quarter evaluation of both quantitative and qualitative CECL model factors and experience with the model, the decision was made to reduce the level of qualitative factors within the CECL model. In addition, the loan portfolio and the unfunded commitments both declined in the fourth quarter of 2023 compared to the third quarter of 2023, which also contributed to the reduction in provision for credit losses. Finally, the CECL model is driven primarily by quantitative inputs and, as such, there was increased reliance on the quantitative factors rather than qualitative during 2023. Management believes that the allowance for credit losses on loans was appropriate at December 31, 2023 and 2022.

Net interest margin decreased by 134 basis points to 2.51% for the three months ended December 31, 2023 compared to 3.85% for the three months ended December 31, 2022. The decrease in the net interest margin is primarily attributable to a significant increase in the average cost of interest-bearing liabilities to 3.78% for the three months ended December 31, 2023 from 1.65% for the three months ended December 31, 2022 and an increase in the average balance of interest-bearing liabilities to $1.07 billion for the three months ended December 31, 2023 from $844.6 million for the three months ended December 31, 2022. These increases were partially offset by an increase in average balance of interest earning assets to $1.26 billion for the three months ended December 31, 2023 compared to $1.09 billion for the three months ended December 31, 2022 and an increase in the average yield of interest earning assets to 5.43% for the three months ended December 31, 2023 from 5.00% for the three months ended December 31, 2022.

Non-interest income increased by $95,000 or 23.1% to $506,000 for the three months ended December 31, 2023 from $411,000 for the three months ended December 31, 2022. The increase in total non-interest income resulted primarily from an increase in service charges and fees of $42,000 as a result of loan commitment fee income recorded in the fourth quarter of 2023. Income on bank owned life insurance increased $50,000 or 29.3% for the three months ended December 31, 2023 compared to the same period in the prior year as a result of an increase in interest rate.

Non-interest expense decreased by $151,000 or 2.1% to $7.0 million for the three months ended December 31, 2023 compared to $7.2 million for the three months ended December 31, 2022. Salaries and employee benefits increased by $213,000 or 5.3% to $4.2 million for the three months ended December 31, 2023 as compared to $4.0 million for the three months ended December 31, 2022. The increase in salaries and employee benefits resulted primarily due to additions to staff and separation cost. Occupancy and equipment expense increased by $125,000 or 16.0% to $909,000 for the three months ended December 31, 2023 from $784,000 for the three months ended December 31, 2022. The increase in occupancy and equipment expense was primarily due to addition of a new cloud-based software services to assist the Bank in improving the on-line banking experience. FDIC insurance assessment increased $203,000 or 414.7% to $252,000 for the three months ended December 31, 2023 as compared to $49,000 for the same period in the prior year as a result of an increase in the deposit insurance assessment rate. Data processing costs increased by $64,000 or 19.0% to $399,000 for the three months ended December 31, 2023 from $334,000 for the same period in the prior year. All of these increases were more than offset by a decrease in other operating expenses of $471,000 or 39.9% to $710,000 for the three months ended December 31, 2023 as compared to $1.2 million for the same period in the prior year, primarily due to reserve provided for unfunded loan commitments. The Bank had no gain/loss on other real estate owned in the fourth quarter of 2023 compared to a $230,000 loss on other real estate owned in the fourth quarter of 2022. All other variances within the other components of non-interest expenses were not material.

The income tax provision increased by $1.0 million or 90.4% to $2.1 million for the three months ended December 31, 2023 from $1.1 million for the three months ended December 31, 2022. The increase in the income tax provision resulted primarily from a significant increase in the pre-tax income and an increase in the state tax rate year over year.

Full Year of Operations

Net interest income decreased by $7.0 million or 15.0% to $39.4 million for the fiscal year ended December 31, 2023 from $46.4 million for the fiscal year ended December 31, 2022.

Total interest income increased by $19.1 million or 36.0% to $72.1 million for the fiscal year ended December 31, 2023 from $53.0 million for the fiscal year ended December 31, 2022. Interest income on loans, including fees, increased $17.1 million or 34.2% year over year resulting primarily from an increase in the average balance of loans receivable of $210.5 million or 20.9% to $1.2 billion for the fiscal year ended December 31, 2023 compared to $1.0 billion for the fiscal year ended December 31, 2022 and an increase of fifty-five basis points in the average yield on loans to 5.52% for the fiscal year ended December 31, 2023 from 4.97% for the fiscal year ended December 31, 2022. Fee income from loans decreased $913,000 for the fiscal year ended December 31, 2023 primarily due to declines in both prepayment penalty fees and Paycheck Protection Program fees of $685,000 and $505,000, respectively, partially offset by a net increase of $240,000 in commercial loan fees compared to the same period in the prior year.

Interest income on interest-bearing deposits with banks increased $1.6 million or 241.6% to $2.3 million for the fiscal year ended December 31, 2023 compared to $660,000 for the same period in the prior year. This increase resulted from a significantly higher average yield on interest-bearing deposits with banks of 4.58% for the fiscal year ended December 31, 2023 compared to 0.93% for the same period in the prior year, despite a decline of $21.9 million in average balances of interest-bearing deposits with banks year over year. Dividend income on Federal Home Loan Bank stock increased $382,000, or 642.9% to $442,000 for the fiscal year ended December 31, 2023 compared to $59,000 for the same period in the prior year. This increase was a result of an increase in dividend yield to 7.19% for the fiscal year ended December 31, 2023 compared to 3.44% for the same period in the prior year coupled with an increase in average balance of $4.3 million to $6.1 million compared to $1.7 million year over year. Interest income on investment securities totaled $2.2 for the year end December 31, 2023, almost unchanged when compared to $2.2 million for the fiscal year ended December 31, 2022. The average yield on investment securities declined two basis points to 2.88% for the fiscal year ended December 31, 2023 compared to 2.90% for the same period in the prior year.

Total interest expense increased by $26.1 million or 395.3% to $32.7 million for the fiscal year ended December 31, 2023 from $6.6 million for the fiscal year ended December 31, 2022. The increase in interest expense was primarily as a result of an increase in the average cost of interest-bearing liabilities of 241 basis points to 3.25% for the fiscal year ended December 31, 2023 from 0.84% for the fiscal year ended December 31, 2022, coupled with an increase in average balance of interest-bearing liabilities of $224.9 million or 28.8% to $1.01 billion for the fiscal year ended December 31, 2023 from $781.9 million for the fiscal year ended December 31, 2022. The average balance of interest-bearing liabilities included a $133.3 million increase in average interest-bearing deposit liabilities and a $91.5 million increase in average wholesale borrowings for the fiscal year ended December 31, 2023. The increase in the average cost of interest-bearing liabilities resulted primarily from a significant increase in market interest rates over the past few years as the Federal Reserve Board of Governors has systematically tightened short-term interest rates in an effort to combat inflation.

The Company recorded a $4.7 million benefit to the provision (benefit) for credit losses for the fiscal year ended December 31, 2023 as compared to a benefit of $358,000 for the fiscal year ended December 31, 2022. The increase in the benefit for credit losses was primarily due to the reduction in percentages of qualitative factors applied in estimating the provision (benefit) for credit losses which resulted in a benefit of $5.7 million recorded in the fourth quarter of 2023. Given Management’s fourth quarter evaluation of both quantitative and qualitative model factors and experience with the CECL model, the decision was made to reduce the level of qualitative factors within the CECL model. The CECL model is driven primarily by quantitative inputs and, as such, there was increased reliance on the quantitative factors than qualitative during 2023. Management believes that the allowance for credit losses on loans was appropriate at December 31, 2023 and 2022.

Net interest margin decreased by 110 basis points to 2.92% for the fiscal year ended December 31, 2023 compared to 4.02% for the fiscal year ended December 31, 2022. The decrease in the net interest margin is primarily attributable to a significant increase in the cost of interest-bearing liabilities and increase in the average balance of interest-bearing liabilities year over year, partially offset by an increase in the average balance of interest earning assets as well as an increase in average yield on average interest earning assets.

Non-interest income increased by $665,000 or 46.2% to $2.1 million for the fiscal year ended December 31, 2023 from $1.4 million for the fiscal year ended December 31, 2022. The increase in total non-interest income resulted primarily from an increase in Bank owned life insurance ("BOLI") income of $580,000 or 87.1% to $1.2 million for the fiscal year ended December 31, 2023 from $666,000 for the fiscal year ended December 31, 2022. The increase in BOLI income resulted from a one-time death benefit received on the Bank’s investment in BOLI. Service charges and fees increased $98,000 to $816,000 for the fiscal year ended December 31, 2023 compared to $718,000 for the same period in the prior year, primarily as a result of fees collected on loan commitments.

Non-interest expense increased by $1.5 million or 5.7% to $27.8 million for the fiscal year ended December 31, 2023 compared to $26.3 million for the fiscal year ended December 31, 2022. Salaries and employee benefits increased by $1.2 million or 7.4% to $17.2 million for the fiscal year ended December 31, 2023 compared to $16.0 million for the fiscal year ended December 31, 2022. The increase in salaries and employee benefits resulted primarily due to additions to staff year-over-year as well as increased employee incentive plan cost and employee health benefits cost. Occupancy and equipment expense increased by $185,000 or 5.5% to $3.6 million for the fiscal year ended December 31, 2023 compared to $3.4 million for the fiscal year ended December 31, 2022, as a result of a significant reduction in rental income during the year 2023 as compared to the year 2022, coupled with the addition of a new cloud-based software services to assist the Bank in improving the on-line banking experience. Advertising and marketing expense increased by $138,000 or 65.0% to $350,000 for the fiscal year ended December 31, 2023 from $212,000 for the fiscal year ended December 31, 2022, as a result of the Bank utilizing resources to build our brand and attract retail deposits. Professional fees increased by $428,000 or 25.9% to $2.1 million for the fiscal year ended December 31, 2023 from $1.7 million for the fiscal year ended December 31, 2022, as a result of increased fees related to the bank holding company reorganization application and the initiative to list on the Nasdaq Capital Market exchange. Data processing costs increased by $185,000 or 21.2% to $1.1 million for the fiscal year ended December 31, 2023 from $869,000 for the fiscal year ended December 31, 2022, primarily due to the overall growth of the Bank. FDIC assessment increased by $150,000 or 28.2% to $681,000 for the fiscal year ended December 31, 2023 from $531,000 for the fiscal year ended December 31, 2022, primarily due to an increase in the deposit insurance assessment rate in effect during the fourth quarter of 2023. These increases were partially offset by a $676,000 or 19.5% decrease in other expenses to $2.8 million for the fiscal year ended December 31, 2023 from $3.5 million for the same period in the prior year, primarily due to a significant decrease in miscellaneous loan expenses. Other expenses also include telephone, subscriptions, software maintenance and depreciation, office supplies and computer supplies. Loss on OREO totaled $59,000 for the fiscal year ended December 31, 2023, a decrease of $106,000 or $64.3% compared to $165,000 for the fiscal year ended December 31, 2022.

The income tax provision decreased by $619,000 or 11.7% to $4.7 million for the fiscal year ended December 31, 2023 from $5.3 million for the fiscal year ended December 31, 2022. The decrease in the income tax provision resulted primarily from a decrease in earnings before income taxes of $3.4 million or 15.7%, which included additional non-taxable income of $510,000 for the one-time death benefit from BOLI investment, to $18.4 million for the fiscal year ended December 31, 2023 from $21.9 million for the fiscal year ended December 31, 2022. The effective tax rate for the fiscal year ended December 31, 2023 was 25.3% as compared to 24.1% for the fiscal year ended December 31, 2022. The increase in effective tax rate resulted from an increase in the state tax rate year over year.

Asset Quality

The allowance for credit losses decreased by $3.3 million to $14.5 million or 1.16% of gross loans at December 31, 2023 from $17.8 million or 1.59% of gross loans at December 31, 2022. Changes in the allowance for credit losses are calculated and adjusted quarterly, relative to those identified parameters within CECL which include, but are not necessarily limited to: loan growth, expected credit losses, economic conditions and forecasts.

The Bank had non-accrual loans totaling $18.4 million or 1.47% of gross loans at December 31, 2023 as compared to $12.7 million or 1.14% of gross loans at December 31, 2022. Non-accrual loans increased by $5.7 million or 44.9% during the year ended December 31, 2023 and OREO balances decreased by $4.0 million or 100% to no OREO at December 31, 2023 from $4.0 million at December 31, 2022.

The allowance for credit losses was 78.8% of non-accrual loans at December 31, 2023, compared to 139.6% of non-accrual loans at December 31, 2022.

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, Montvale, 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 Bank 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; the effects of the recent turmoil in the banking industry (including the failures of two financial institutions); 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 and the impact of a potential shutdown of the federal government.

First Commerce Bancorp, Inc.
Consolidated Balance Sheets
(Unaudited)

First Commerce Bancorp, Inc.
Consolidated Statements of Income
For the three months ended December 31, 2023 and 2022
(Unaudited)

First Commerce Bancorp, Inc.
Consolidated Statements of Income
For the years ended December 31, 2023 and 2022
(Unaudited)

First Commerce Bancorp, Inc.
Net Interest Margin Analysis
(Unaudited)

First Commerce Bancorp, Inc.
Net Interest Margin Analysis
(Unaudited)

First Commerce Bancorp, Inc.
Selected Financial Data
(Unaudited)

SOURCE: First Commerce Bancorp, Inc.

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STEVENS POINT, WI / ACCESSWIRE / February 1, 2024 / Perceptive Solutions, Inc., maker of WoundZoom Wound Centric EMR and point of application app, today announces the launch of WoundZoom PRO, an advanced application that gives healthcare providers a more intelligent and efficient way to manage wound care across a variety of care settings with its non-contact three dimensional wound measurement technology and intuitive workflow application that can all be accessed on a clinician’s smart device.

"WoundZoom PRO exemplifies cutting-edge sophistication through its innovative AI algorithm, meticulously measuring the intricacies of wound topography to consistently identify and gauge the deepest point. The method of action is easy; requiring merely seconds of imaging to deliver unparalleled accuracy and a better patient experience. With a suite of refined features, the application seamlessly transforms any practice into a realm of optimized efficiency," said Mark Lacerte, President of Perceptive Solutions.

"At Perceptive, we cultivate an innovative culture committed to delivering superior solutions for healthcare professionals in wound care. Anchored by our four core user benefits, WoundZoom PRO exemplifies our dedication to excellence."

WoundZoom PRO is the latest HIPAA-compliant digital wound management solution by Perceptive. WoundZoom seamlessly integrates into the provider’s EHR through a cloud-based portal, which produces practice analytics and census reports on demand. The WoundZoom system is valued to elevating clinical and business outcomes.

The new solution is available for download on the Apple App Store with application access granted with a user license.

About Perceptive Solutions

Perceptive Solutions modernizes the practice of wound care with technology-enabled systems designed to increase clinical efficiency, improve care quality, and mitigate risk. Integrating smoothly with your EHR, WoundZoom utilizes intuitive diagnostic, AI, to capture accurate 2D and 3D images, automatically prompt and document appropriate actions, and create a continuous, standardized clinical record across shifts, floors, and facilities. For more information, visit https://perceptivesol.com.

Media Contact

Perceptive Solutions, Inc. is a privately-owned Software as a Service (SAAS) company with a focus on healthcare. The company’s product portfolio includes point-of-care mobile applications WoundZoom CORE®, WoundZoom PRO®, and the cloud-based WoundZoom Connect® clinical portal. Founded in 2012 as WoundZoom, Inc., the company was the first to market with a point-and-click wound measurement camera and assessment tool. The vision is to modernize the practice of wound care with technology-enabled systems designed to increase clinical efficiencies, improve care quality, and mitigate risk.

For more information, contact:

Conrad Klotz
Senior Director of Marketing
Perceptive Solutions, Inc.
Cklotz@perceptivesol.com
https://perceptivesol.com

Contact Information

Conrad Klotz
Senior Director of Marketing
cklotz@perceptivesol.com
561-248-7491

SOURCE: WoundZoom

View the original press release on newswire.com.

MIAMI, FL / ACCESSWIRE / February 1, 2024 / Cosmoprof North America Miami concluded its inaugural edition with resounding success, solidifying its position as the premier beauty launchpad. The event, held January 23-25, welcomed an impressive 19,000 visits representing 113 countries, alongside a diverse array of over 700 exhibitors from 40 countries.

Exhibitors at Cosmoprof North America Miami (representing categories in skin care, makeup, fragrance, hair care, nails, and the beauty supply chain) had the opportunity to showcase new products and launches, contributing to the event’s overall success. The dynamic show floor was a bustling hub for innovation, highlighting the latest trends and groundbreaking beauty solutions.

"The success of the first edition of Cosmoprof North America Miami is really a positive signal for the development strategy of the Cosmoprof network," declared Antonio Bruzzone, Chief Executive Officer of BolognaFiere Group. "As a global partner for business for all beauty stakeholders, our aim is to facilitate networking and commercial relationships; starting from today we can provide our global community two specific events dedicated to the US market, enriching the global offer of our international platform."

"As we celebrate the triumph of Cosmoprof North America’s expansion to Miami, the launch’s success reverberates into Las Vegas, solidifying both shows as vital hubs in the ongoing robust growth of the beauty industry in the United States," remarked Ed McNeill, Senior Vice President of USA Beauty. "With a shared objective, these events provide an unparalleled experience, nurturing innovation and fostering connections for all stakeholders."

"With the success at Cosmoprof North America Miami, we look forward to the sustained momentum at Cosmoprof North America Las Vegas in July," said the Professional Beauty Association’s Executive Director, Nina Daily. "These notable events underscore the power of collaboration and a collective vision dedicated to empowering beauty professionals, strategically shaping the future of the industry."

One of the distinctive features of the event was the presence of country pavilions, supported by foreign governments that recognized the pivotal role of creating exposure for their brands in the U.S. These pavilions, representing countries Brazil, China, Colombia, France, Germany, South Korea, Spain, and Turkey, added a global dimension to the event, fostering international collaboration and showcasing the beauty industry’s diversity.

HIGHLIGHTS

The Buyer Program and Collaboration with U.S.C.S.

The Buyer Program, an exclusive initiative by Cosmoprof facilitating impactful B2B networking between exhibitors and buyers, orchestrated a multitude of highly productive meetings. Notable participants in the Buyer Program comprised esteemed companies such as 1 Hotels, Blush-Bar, CVS Health, Icsitum, Nordstrom, Olivela, El Palacio de Hierro, Space NK, and Walmart Puerto Rico. Also, in collaboration with the U.S. Commercial Service, 175 delegates were registered from 17 countries, including Colombia, Ecuador, Ghana, Jamaica, and Mexico, fostering meaningful B2B engagements with exhibitors.

Education

CosmoTalks and Cosmopack Education sessions emerged as significant highlights of the show, with numerous sessions selling out before the event, underscoring the industry’s hunger for education. Topics ranging from "Beauty Business Start-Up: What You Must Know Before You Launch!" to "Revolutionizing Beauty: Unveiling the Secrets of New Product Innovation" and "The Lowdown on Environmentally Conscious Packaging" drew eager attendees seeking invaluable insights and expertise from speakers representing The Estée Lauder Companies, Shiseido, Ulta Beauty, Unilever, and more.

The Press Zone

Situated on the show floor, the Press Zone offered exhibitors an exclusive opportunity to establish one-on-one connections with influencers and prominent consumer and trade press figures from Allure, BeautyMatter, The Beauty Industry Report, CEW, Elle, Hola TV, NewBeauty, Real Simple, and Today.com.

Cosmoprof North America Miami proved to be a catalyst for industry professionals, providing a unique platform for networking, business expansion, and knowledge exchange. As the inaugural edition came to a close, the overwhelmingly positive response from both exhibitors and attendees affirmed the event’s success and marked the beginning of a new era for beauty innovation in the vibrant city of Miami Beach.

Rebeca Durán, International Manager of Stanpa, was really satisfied with the first edition of the exhibition: "Cosmoprof Miami went quite well for Spanish companies, and we are pleased with the outcome. A significant number of visitors came from Latin America, but there were also visits from [the] US and Canada. We’ll be participating [in the] next edition with a bigger Spanish pavilion, in representation of Beauty from Spain."

"The show was a great success for us," said exhibitor Steven Miller, Executive Vice President of Annie International Inc. "The show was busy from the moment doors opened the first day and continued throughout the whole show. We not only were able to meet with our existing established business partners but accomplished both of our goals. We met dozens of credible new prospects to partner with throughout all of Latin America."

Claudia Lloreda, Founder & General Manager of Blush-Bar, commented, "Our days at Cosmoprof were simply brilliant! We loved the CosmoTalks focusing on retail evolution, packaging sustainability, and driving innovation in product development." She added, "We met wonderful people and incredible brands, manufacturers, and packaging companies from all over the world. We came home energized, with many follow-ups to do, many emails to send, and so thankful that we were able to share in these special days with our beloved industry."

The second stop of the Cosmoprof Network for the US beauty community will be Las Vegas for the 21st edition of Cosmoprof North America Las Vegas at the Mandalay Bay Convention Center from July 23-25, 2024, with registration now open. The second edition of Cosmoprof North America Miami is scheduled to take place in Miami Beach, Florida, from January 21-23, 2025, further solidifying its role as a crucial platform for the beauty industry in the Americas.

Register now for Cosmoprof North America Las Vegas at www.cosmoprofnorthamerica.com/las-vegas/ and take advantage of early bird pricing through May 17th.

Plan your visit: www.cosmoprofnorthamerica.com/las-vegas/hotel-travel/.

For inquiries, please contact: pr@cosmoprofna.com.

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. We provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services, and actionable data solutions. We connect buyers and sellers across more than a dozen global verticals, including Boating, Pharmaceuticals, Food, Fashion and Infrastructure. As the world’s leading market-making company, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit: WWW.INFORMAMARKETS.COM.

BolognaFiere Group is the world’s leading trade show organizer in cosmetics, fashion, architecture, building, art, and culture. The Group has more than 80 international exhibitions within its portfolio, notably Cosmoprof Worldwide Bologna, the most important meeting point in the world for beauty professionals, established in 1967 and held in Bologna, Italy. For the 2023 edition, Cosmoprof registered more than 250,000 attendees from 153 countries in the world, and 2,984 exhibitors from 64 countries. Cosmoprof Worldwide Bologna 2024 is scheduled from March 21 to 24, 2024, in Bologna – Italy. Cosmoprof B2B format is constantly able to support companies and stakeholders in their business all over the world with specific tools and initiatives adapting to each market. The Cosmoprof platform extends throughout the entire world, with Cosmoprof North America, Cosmoprof CBE ASEAN, Cosmoprof India, and Cosmoprof Asia. In 2024, the Cosmoprof network is landing in Riyadh with Cosmoprof Arabia. For more information, please visit: WWW.COSMOPROF.COM.

The Professional Beauty Association (PBA) is dedicated to advocating and fighting for the rights and professionalism of the beauty industry, and is committed to the long-term success of beauty professionals and the businesses that employ and support them. As the largest and most inclusive trade organization representing the entire beauty industry, PBA advocates for legislation on behalf of the industry, including such things as fighting against deregulation. PBA also provides curated resources to empower members, including education, business tools and resources, curated healthcare and insurance options, exclusive events, charitable initiatives, scholarships, networking opportunities and proprietary reports and data. Members include manufacturers, distributors, salons, spas, schools, independent practitioners, students, and industry suppliers. For more information on membership, please visit: WWW.PROBEAUTY.ORG/JOIN.

SOURCE: Informa Markets – USA Beauty

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LONDON, UK / ACCESSWIRE / February 1, 2024 / Lambert House Consulting (LHC), also known as LHC bank, is proud to announce that it has recently received full authorisation to secure Bonds in the bridging market, making it one of the few UK institutions to have achieved this distinction. This authorisation opens a vast and ever-expanding market for LHC, as it now can make previously unavailable high-yield, fixed income bonds accessible to private investors.

In simple terms, LHC acts as an intermediary between the private investor and the bond issuer. It breaks down the bonds into smaller tranches and reissues them to the private investor, providing them with the opportunity to earn high returns in a fixed rate market. This investment avenue has gained immense popularity in today’s financial climate, with an exponentially growing influx of investment. In fact, it is expected that a significant amount of money will be shifting from variable rate products to this sector in 2024, until global markets stabilise.

Julian Rimmer, the head of the department at LHC bank responsible for this new endeavor, expressed his excitement about this opportunity. He described the ability to bridge between institutional and retail as refreshingly smooth, stating that he had never witnessed such a seamless movement before.

Rimmer believes that this milestone authorisation will have positive impacts on both LHC bank and its clients. By making the previously exclusive high-yield bonds accessible to private investors, LHC bank is providing an avenue for individuals to diversify their investment portfolios and potentially earn higher returns. This opens new doors for investors who have previously been unable to access these types of investments.

In addition, this development solidifies LHC’s position as a trusted and progressive financial institution. The full authorisation to trade in the bridging market demonstrates LHC’s commitment to innovation and its ability to adapt to evolving financial markets. By seeing the potential in the retail market and fulfilling the growing demand for high-yield fixed income bonds, LHC is carving out a unique space for itself within the financial industry.

Peter Smith LHC’s head of compliance said that success in obtaining full authorisation in the bridging market is a testament to their expertise and dedication to providing exceptional services to its clients. With the ability to connect private investors with issuers of high-yield bonds, LHC bank is facilitating growth, financial well-being, and investment opportunities for its clients. As the company looks towards the future, it is committed to maintaining its leadership position in the industry and serving the evolving needs of its clients in the most efficient and effective manner possible.

Media Contact

Organization: Lambert House Consulting Ltd
Contact Person: Sarah Wilson, press officer
Website: https://www.lhcbank.com/
Email: media@lhcbank.com
City: London
Country: United Kingdom

SOURCE: Lambert House consulting Ltd.

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HONG KONG / ACCESSWIRE / February 1, 2024 / The cryptocurrency trading platform Joy Universe (ju.com) officially announced to the public that Exor Digital Holdings Limited, a global player in the digital innovation and technology sector, has completed the full acquisition of the original Jubi digital trading platform. Exor Digital Holdings Limited now holds 100% ownership of Jubi and has undertaken a comprehensive restructuring and significant adjustments to key positions in its core departments, including technology development, brand expansion, customer service, and major client channels.

Founded in 2013, the Jubi trading platform was one of the earliest cryptocurrency exchanges globally. In 2015, it proudly claimed the top spot among the largest Chinese-language digital asset trading platforms, and in 2017, it maintained the highest global trading volume. In February 2020, Jubi was fully acquired by Singapore’s Uniweb Group and has served a total of 23 million digital asset trading users in hundreds of countries around the world. With a current valuation of $1.2 million USD for its domain, Ju.com, the acquiring company, Exor Digital Holdings Limited, has strong backing from traditional investment institutions, including those in Italy, and prominent players in the cryptocurrency field.

The announcement notes that the acquisition will facilitate the development of the encrypted digital ecosystem and bring a powerhouse to the global strategy of the platform. Post-acquisition, the Joy Universe Digital Asset Trading Platform will comprehensively upgrade its brand, technology, ecological development, user services, channel expansion, and artificial intelligence data services. It will also prioritize the development of DeFi infrastructure, Web3 digital entities, NFT asset applications and implementation, the encrypted entertainment sector, and the metaverse field.

Joy Universe introduces the slogan "Joy to the Universe," aiming to spread joy throughout the entire universe. The platform is dedicated to enhancing user experience, providing a convenient value interaction channel for high-quality digital industry projects, and upholding the brand’s mission of defending user trading freedom and asset privacy, among other brand upgrade strategies.

The major adjustments in the management and controlling aspects of Joy Universe, along with the comprehensive upgrade as we understand it, might be driven by the optimistic development trends and opportunities arising from Bitcoin’s ETF approval and the arrival of the era of the digital virtual economy. The acquisition event and the comprehensive brand upgrade for Jubi’s trading platform could potentially contribute to a revival of its status as the world’s former largest exchange, rejoining the competition among top-tier global exchanges. 2024 might witness a compelling drama in the cryptocurrency sector, with various contenders rising and competing, presenting an intriguing spectacle. We eagerly await further developments.

Our media will continue to actively track and report on the most significant events and important news in the global cryptocurrency domain.

Contact Details:

Website: https://www.jubi.fund/
Email : alex@jbex.com
Twitter: https://twitter.com/JBEXCOM

SOURCE: Jubi

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NEW YORK, NY / ACCESSWIRE / February 1, 2024 / ShelterZoom today announced a new partnership with TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem. This partnership will start by bringing two of ShelterZoom’s groundbreaking solutions, Document GPS and Spare Tire, to the extensive customer base built by TD SYNNEX over its decades of being a trusted leader in the industry. Document GPS is the first native email extension proven to securely share files using cutting-edge Single Source Of Truth® tokenization technology and Spare Tire is a healthcare-specific business continuity and cyber resilience solution, ensuring that EMR downtime is no longer an issue for healthcare organizations.

"TD SYNNEX is known for being at the forefront of groundbreaking technology and effortlessly bridging the gap between clients who need the most advanced tools for their business and the companies who provide them," said Chao Cheng-Shorland, CEO and co-founder of ShelterZoom. "We created Document GPS to bring an entirely new way of preventing cybersecurity attacks without the need for extensive infrastructure and a high cost of implementation. This innovation can replace the existing vulnerable paperclip and become the norm for sharing files via email since it greatly enhances security while maintaining the ease of use we are all familiar with. We have proved the effectiveness of this solution over the past several years at scales large and small. "

Cybersecurity breaches are occurring on a daily basis across every industry and every size of organization, with almost all cyberattacks originating from the email environment and a global estimated cost to companies reaching over $8 trillion in financial damages plus untold negative impacts on peoples’ lives and businesses. As these attacks become more sophisticated and more debilitating the world needs to approach cybersecurity differently. There are many tools which build stronger defenses against attacks, but very few which focus on strengthening the defenses of the digital content itself. Blockchain and tokenization technology has laid the groundwork for a new era of ownership over digital content and it is now perfectly timed to meet the growing demands of the market. Considering 91% of all cyber attacks come through emails and email attachments, Document GPS is rapidly becoming the underlying email attachment and email protection layer for organizations to combat cyber threats.

"TD SYNNEX is committed to uniting IT solutions that deliver business outcomes today and unlock growth for the future," said Cheryl Day, VP New Vendor Acquisition and Global Solutions at TD SYNNEX. "With ShelterZoom added to our vast portfolio of vendor partners, we’re able to enrich the breadth and depth of our offerings so customers can do great things with technology." 

About ShelterZoom

ShelterZoom is a pioneering cybersecurity, digital content ownership/control and business continuity SaaS company recognized as a market leader by Gartner in both 2022 and 2023. Unlike other solutions on the market, ShelterZoom’s patented Single Source Of Truth® technology introduced an entirely new way to address cybersecurity at its root cause, by building an organic protection layer inside content (through tokenization). This allows content and documents to defend themselves from the inside out against cyber threats. ShelterZoom’s next-generation suite of solutions have been fully integrated with Microsoft Outlook and Gmail to stop email attachment vulnerabilities causing data breaches and wire fraud as well as provide business continuity for healthcare during ransomware attacks and other cyber attacks, ensuring EMR downtime is not an issue.

The multiple award-winning Web3 SaaS company was founded in 2017 and serves enterprises of all sizes and industries, including healthcare, financial, government agencies, law firms, non-profits, academia, and real estate.

About TD SYNNEX

TD SYNNEX is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s 23,000 co-workers are dedicated to uniting compelling IT products, services and solutions from 2,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, AI, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com or follow us on LinkedIn, Facebook and Instagram.

Copyright 2024 TD SYNNEX Corporation. All rights reserved. TD SYNNEX, the TD SYNNEX Logo, and all other TD SYNNEX company, product and services names and slogans are trademarks of TD SYNNEX Corporation. Other names and trademarks are the property of their respective owners.

Contact Info:
Junard Pimienta
junard.pimienta@shelterzoom.com
1 (833) 781-7705

SOURCE: ShelterZoom Corp.

View the original press release on accesswire.com