Market Signal Briefing

Key takeaways:

Institutional sentiment is shifting toward ETH as elite funds reallocate capital from Bitcoin to Ether ETFs.

BlackRock’s ETH ETF pairs secure staking with a low 0.25% fee, creating a major win for mainstream crypto access.

Dominance in the $20 billion real-world asset sector proves that big money prioritizes network security over low gas fees.

Ether (ETH) has failed to reclaim the $2,500 level since Jan. 31, leading traders to question what might spark sustainable bullish momentum. Investors are waiting for definitive signs of a favorable sentiment shift; meanwhile, three distinct events could signal the end of the bear cycle that bottomed at $1,744 on Feb. 6.

US-listed Ether spot ETFs daily net flows, USD. Source: CoinGlassAt first glance, the $327 million in net outflows from spot Ether exchange-traded funds (ETFs) in February is mildly concerning. The apparent lack of institutional appetite while ETH sits 60% below its all-time high could be seen as a lack of confidence in the $1,800 support level. However, these outflows represent less than 3% of the total assets under management for Ether ETFs.

Recent Ether ETF milestones may boost ETH's priceWhile investors currently focus almost exclusively on short-term flows, the magnitude of recent Ether ETF developments will eventually reflect positively on ETH price. In bearish markets, positive news is often ignored or downplayed, but strategic moves from the world’s largest asset managers can quickly flip investor risk perception.

The latest US Securities and Exchange Commission filings revealed on Monday that the Harvard endowment fund added an $87 million position in BlackRock’s iShares Ethereum Trust during the final quarter of 2025. Interestingly, this vote of confidence arrived as Harvard reduced its iShares Bitcoin Trust holdings to $266 million, down from $443 million in September 2025.

Latest notable iShares Ethereum Trust ETF holding changes. Source: MarketbeatIn parallel, BlackRock amended its Staked Ethereum ETF proposal on Tuesday to include an 18% retention of total staking rewards as service fees. While some market participants criticized the hefty fee, the ETF sponsor must compensate intermediaries like Coinbase for staking services. Moreover, the relatively low 0.25% expense ratio remains a net positive for the industry.

The final piece of evidence pointing to growing institutional adoption lies in real world asset (RWA) tokenization, a segment that has surpassed $20 billion in assets. Ethereum stands as the absolute leader, hosting offerings from BlackRock, JPMorgan, Fidelity, and Franklin Templeton. This intersection of blockchain applications and traditional finance could trigger sustainable demand for ETH.

RWA aggregate onchain market capitalization, USD. Source: DefiLlamaNearly half of the $13 billion in RWA deposits on Ethereum represent tokenized gold, though investments in US Treasurys, bonds, and money market funds grew to an impressive $5.2 billion. By comparison, the combined RWA listings on BNB Chain and Solana amount to $4.2 billion—a strong indicator that institutional money is less concerned with fees and more focused on security.

Even if RWA issuers currently focus on closed-end systems using exclusive decentralized finance pools or their own layer-2 networks, intermediaries will eventually find ways to connect with the broader Ethereum ecosystem. Crypto venture capital firm Dragonfly Capital’s latest $650 million funding round signals a strong appetite for tokenized stocks and private credit offerings.

Rather than backing layer-1 blockchains and consumer-focused applications, investors are directing capital toward RWA infrastructure, institutional custody, and trading platforms—a clear sign of market maturation. Although it is difficult to predict how long these shifts will take to impact Ether’s price, these events clearly indicate that a bounce back to $2,500 in the near term is feasible.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

BlackRock has updated its SEC filing for the proposed iShares Staked Ethereum Trust ETF, offering new details about how the fund plans to generate and manage staking income. The exchange-traded fund, expected to trade on the Nasdaq under the ticker ETHB, will incorporate Ethereum staking as a central strategy, setting it apart from BlackRock’s existing spot Ethereum ETF, ETHA.

According to the amended registration statement, the ETF will stake between 70% and 90% of its Ethereum holdings to earn staking rewards. A portion of ETH will remain liquid to support redemptions, operational expenses, and risk management needs. BlackRock disclosed that it will retain 18% of the total Ethereum staking rewards generated by the fund. In addition, the ETF will charge a 0.25% expense ratio.

The filing also outlines a 12-month sponsor fee waiver. After the waiver period, the sponsor fee will be reduced to 0.12% for the first $2.5 billion in net assets. This sponsor fee is calculated as an annual percentage of the fund’s net asset value (NAV), while the staking fee represents a share of the staking rewards earned. Any staking rewards received in ETH will increase the ETF’s NAV, and shareholders are expected to receive distributions at least quarterly after fees and expenses are deducted. Third-party staking service providers may apply additional costs.

The updated filing follows recent SEC guidance clarifying that staking rewards are treated as earned income rather than capital gains. BlackRock emphasizes that staking rewards remain taxable under current IRS rules and that staking operations will be structured to maintain grantor trust status. Coinbase Custody and Anchorage Digital are listed as potential custody and staking partners, although BlackRock may pause staking activities due to regulatory, security, or operational concerns.

Meanwhile, Ethereum’s price has remained volatile, trading at $1,966 at the time of writing, down more than 41% over the past month. On-chain data also shows BlackRock recently deposited 1,701 BTC worth $115.2 million and 22,661 ETH valued at $44.5 million into Coinbase Prime, highlighting continued institutional activity in the crypto market.

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The Ethereum network is currently “stuck in between narratives" at a time when ether prices have been trading within a reasonably tight range, according to analyst Callan Sarre.

The world’s second-most valuable digital currency has been fluctuating close to the $2,000 level for the last few weeks, according to Coinbase data from TradingView.

The cryptocurrency is facing some challenges, as Sarre articulated via email that “Ethereum feels stuck in between narratives right now, and the market hates being in between.”

“For the past few years, the story was simple. Scale would live on Layer 2s. The base layer would stay lean, secure, and decentralized,” he noted.

“That thesis attracted capital, developers, and serious infrastructure buildout. Today, Layer 2 networks process billions in weekly volume and have cut transaction costs by more than 90 percent compared to peak mainnet cycles. That part worked,” Sarre emphasized.

The market observer went on to elaborate on how the digital asset markets are underdoing shifts.

“What is changing is where the long term value accrues,” he stated. “The focus is shifting toward bringing zero knowledge technology and privacy closer to the base layer itself. For traders who built their models around the old roadmap, this feels like the ground moving. And markets tend to price confusion before they price clarity.”

Next, he highlighted the conflict between transparency and practical use of ether.

“Every Ethereum transaction today is fully visible,” he noted. “One hundred percent transparent. That works for crypto natives. It does not work for CFOs managing corporate treasuries or funds deploying nine figure positions.”

“No serious institution wants competitors tracking strategy in real time,” he claimed.

“This is not just a technical debate. It is about human behavior, incentives, and risk tolerance,” stated Sarre.

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“If Ethereum wants to attract institutional capital measured in trillions, privacy has to be built in, not layered on. The first protocol level privacy proposals will matter more than most traders realize.”

As for where the digital currency’s price will go next, analysts polled for this article appeared split in terms of their views.

Jacob Joseph, research analyst at CoinDesk Data, emphasized that ether prices could be heading lower soon enough.

“Ethereum is currently trading 60.2% below its all-time high, reflecting the broader drawdown across digital assets,” he noted via emailed comments.

“However, it remains premature to conclude that the downturn has fully played out, particularly as TradFi markets begin to show signs of weakness,” said Joseph. “Equity indices have recently started to wobble amid rising uncertainty, partly driven by elevated CAPEX from the Mag7 and broader macro headwinds.”

“A central challenge for Ethereum and blockchains is the disconnect between valuation and value accrual,” he emphasized. “Layer-1s generate revenue by selling blockspace, yet transaction fees must remain relatively low to sustain user adoption. The only sustainable way to bridge this gap is through exponential growth in on-chain activity - bringing more assets, applications, and financial infrastructure onto the network at scale.”

“Thus, from a fundamental perspective, the key developments to monitor include continued adoption of Ethereum for tokenizing real-world assets and deeper integration between traditional finance and decentralized finance,” noted Joseph. “BlackRock’s recent announcement that its tokenized fund, BUIDL, will be tradable on Uniswap - the largest decentralized exchange on Ethereum - marks a significant step in that direction and reinforces the broader Ethereum thesis. Additionally, Ethereum ETF net flows will be an important barometer of institutional sentiment, offering insight into whether traditional capital allocators are increasing or reducing exposure.”

Joel Valenzuela, an independent analyst who does business development for Dash, took a different view on the matter.

“What’s next for cryptocurrency is, to put it bluntly, revenue,” he stated via email. “We’re nearing the end of the era where all cryptocurrencies, including Ethereum, sustained their market price off of speculation of what the tech could one day deliver. That ‘one day’ has come.”

The market observer shed some light on how investors might approach this situation.

“I would suggest cryptocurrency investors monitor which blockchains are printing the largest volume of on-chain revenue compared to their current market cap, as well as any chains that appear to be on the horizon of a similar revenue breakthrough,” said Valenzuela.

Going forward, Jonatan Randin, senior market analyst at PrimeXBT, offered a bullish outlook.

“Ethereum’s been sitting around the $2,000 mark for much of early 2026, and there’s actually quite a lot on the horizon that could shift the direction from here,” he noted.

“The network had a huge 2025 in terms of development, shipping two major upgrades including the most feature-packed update in its history,

Ether has been trading largely range-bound recently. (Photo by Thomas Trutschel/Photothek via Getty Images)

Photothek via Getty Images

and the next one, Glamsterdam, is expected in the first half of this year,” Randin clarified via email. “That’s an important one to watch because it could tackle the fee revenue problem that’s been hanging over Ethereum, where Layer 2 networks have essentially been siphoning value away from the base layer.”

“On the institutional side, we’re also seeing something genuinely new,” he stated. “Grayscale started distributing staking rewards to U.S. Ethereum ETF holders in January, a first for any spot crypto product in the States, and BlackRock has filed for its own staked ETH fund. That changes what an Ethereum ETF actually is, it’s no longer just price exposure, it’s a yield-bearing product.”

“The other thing I’d encourage traders to keep a close eye on is how the derivatives market is reshaping the way these assets move,” he added. “The growth of options markets around spot ETFs has introduced dynamics like covered call selling and dealer hedging that didn’t exist a couple of years ago, and they're fundamentally changing the character of crypto price action.”

The U.S. dollar is heading for a weekly loss as bearish positioning hits record lows, but bitcoin's shifting correlation with the dollar index is complicating the usual bullish narrative for crypto. Bitcoin's Lack of Reaction to Weak Dollar Tests Historic Inverse Link The U.S.

In brief Bitcoin open interest has dropped 55% from its $94B all-time high, now sitting at roughly $44B The asset briefly bounced above $70,000 after a cooler-than-expected January CPI print, but was rejected at that level Analysts see cautious optimism emerging, with some suggesting patient dollar-cost averaging at current levels as a viable play Risk is coming off fast in Bitcoin’s derivatives market.

Total open interest has dropped to $44 billion from a peak above $94 billion in October 2025, a 55% decline and the steepest drawdown since April 2023, CoinGlass data shows.

Rising open interest typically signals fresh capital flowing into derivatives markets and increasing trader conviction. Declines, by contrast, suggest traders are cutting leverage and stepping back from speculative bets.

Experts attribute the risk-off mood to a number of catalysts, including a weaker U.S. dollar, foreign wars, a shaky Japanese bond market, and AI transformational risks to traditional tech company models.

Following a hotter-than-expected jobs report last week, which showed the U.S. economy added 130,000 jobs in January and dented expectations for further rate cuts, large-scale institutional selling has been especially pronounced.

"This was largely counteracting any positive positioning from entities that were still expressing a long-term positive directional view on Bitcoin, such as Strategy," analysts from crypto exchange Bitfinex told Decrypt.

While some on-chain metrics have flashed signs of a reprieve, Bitcoin has struggled to regain a solid foothold above $70,000 for nearly two weeks, coinciding with a loss in investor confidence across traditional equities, particularly tech stocks.

A cooler U.S. inflation reading in January triggered a wave of spot buying in Bitcoin and forced short sellers to unwind positions in perpetual futures markets, analysts said. 

Consumer price data, published Friday, rose 2.4% year over year, down from 2.7% in December, easing concerns that sticky inflation would delay interest-rate cuts.

The move briefly lifted Bitcoin above $70,000 over the weekend, even as derivatives traders reduced exposure. Open interest fell, and funding rates turned negative, signalling that the rally was driven by short covering and spot demand rather than new leveraged bets.

While Bitcoin has now retraced its “entire post-Trump-election ascent,” the tepid optimism doesn't mean investors are entirely out of the market, Aurelie Barthere, principal analyst at Nansen Research, told Decrypt.

"For those with the patience to hold long term and who believe favorable crypto regulations are likely to continue, albeit at a slower pace, this could be an acceptable level for patient, cautious dollar-cost averaging," she said.

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The upcoming release of the January FOMC minutes on February 18, 2026, is expected to trigger heightened volatility across the crypto market. Investors are closely watching the Federal Reserve’s policy signals, as any shift toward a hawkish or dovish stance could significantly impact Bitcoin price movements and broader digital asset sentiment.

Market reaction will largely depend on how the minutes reshape expectations for future interest rate cuts. Analysts note that the crypto market typically responds not just to the Fed’s wording but to how traders adjust their rate projections. If policymakers signal growing confidence in lowering inflation or express concerns about slowing economic growth, expectations for rate cuts in 2026 could increase. Such a dovish tilt would likely support Bitcoin and major altcoins, fueling a short-term recovery.

On the other hand, if the FOMC minutes emphasize patience and highlight upside risks to inflation, markets may push rate cut expectations further out. A hawkish tone suggesting rates will stay higher for longer could put pressure on risk assets, including cryptocurrencies. Analyst MANI recently outlined these two scenarios, warning that the minutes could increase short-term volatility and urging traders to manage risk carefully. The next Fed rate decision is scheduled for March 18.

Recent inflation data has added complexity to the outlook. The Consumer Price Index (CPI) rose 2.4% year-over-year in January, below the 2.5% forecast and marking its lowest level in over four years. While this strengthens the case for lower rates, strong labor market data has tempered dovish bets. Nonfarm payrolls increased by 130,000, pushing the probability of a March rate hold above 92%, according to CME FedWatch data.

With the federal funds rate currently between 3.5% and 3.75%, the January FOMC minutes will provide deeper insight into the Fed’s internal debate over inflation, economic growth, and the future path of interest rates—key drivers for the crypto market outlook.

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Gen's Agent Trust Hub will bring risk verification to skills.sh, protecting developers and users from unsafe AI skills

, /PRNewswire/ -- As AI agents evolve from assistants into autonomous digital actors capable of executing real-world tasks, Gen (NASDAQ: GEN) today announced a strategic partnership with Vercel to bring independent safety verification to the growing AI skills ecosystem at https://skills.sh/. Vercel's platform serves more than 6 million developers worldwide, and skills.sh – its open directory for reusable AI agent skills – serves as a discovery layer where developers can publish and install modular capabilities that extend what AI agents can do.

Gen and Vercel Partner to Bring Independent Safety Verification to the AI Skills Ecosystem Through this collaboration, Gen's Agent Trust Hub (ATH) will provide security verification and transparent risk ratings for skills published on the platform. Each skill will be evaluated and classified as Safe, Low Risk, High Risk, or Critical Risk, giving developers and users greater clarity before installing or executing agent capabilities.

"AI agents are becoming powerful digital actors," said Howie Xu, Chief AI & Innovation Officer at Gen. "Trust must be built into the ecosystem itself. By partnering with Vercel, we are embedding independent verification directly into the skills layer, helping innovation and safety scale together."

"Developers want to move quickly, and users want confidence," said Andrew Qu, Chief of Software at Vercel. "This partnership with Gen's Agent Trust Hub helps ensure that as AI capabilities grow, so does transparency."

Building Trust Into the Skills Layer
AI agents are no longer limited to generating responses. They browse the web, connect to APIs, access sensitive data, and trigger multi-step workflows autonomously. As their capabilities expand, so does the importance of understanding the security posture of the skills that power them.

Malicious or poorly designed skills can introduce vulnerabilities, expose data, or enable fraud without users realizing it. Until now, determining whether a skill was safe often relied on limited metadata or community reputation.

This partnership introduces independent, AI-driven verification directly into the discovery experience. Gen's Agent Trust Hub analyzes skills using advanced risk modeling and threat intelligence, powered by Gen Threat Labs, to detect security weaknesses, unsafe permissions, behavioral anomalies, and potential malicious intent. Each skill receives a clear verification classification:

Safe — Verified against security best practices Low Risk — Minor risk indicators detected High Risk — Significant security concerns identified Critical Risk — Severe or malicious behavior detected By embedding these ratings into the skills ecosystem itself, Gen and Vercel are making trust visible before risk becomes consequence.

From Vision to Infrastructure: Securing the Agentic Future
This integration signals growing ecosystem adoption of Gen's Agent Trust Hub as the trust layer for autonomous AI systems.

As AI transitions from assistive to autonomous, skills become the building blocks of capability. Ensuring those building blocks are secure is essential to responsible innovation. Where traditional cybersecurity protects devices and networks, Agent Trust Hub is designed to protect AI agents and the expanding ecosystems they depend on.

Through this partnership, Gen and Vercel are advancing a shared goal: making security an integrated part of the AI development lifecycle, not an afterthought. The integration of Agent Trust Hub into skills.sh represents another step toward establishing the trust infrastructure required for the agentic era.

About Gen
Gen (NASDAQ: GEN) is a global company dedicated to powering Digital Freedom through its trusted consumer brands including Norton, Avast, LifeLock, MoneyLion and more. The Gen family of consumer brands is rooted in providing financial empowerment and cyber safety for the first digital generations. Today, Gen empowers people to live their digital lives safely, privately and confidently for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy, identity protection and financial wellness to nearly 500 million users in more than 150 countries. Learn more at GenDigital.com.

About the Gen Threat Labs
Gen Threat Labs is the Cyber Safety research team within Gen, focused on uncovering and analyzing the latest digital threats and scams worldwide. Rooted in data, research, and technical expertise, the team identifies patterns and risks that shape the evolving cyber landscape. Their insights power the security technologies that protect people across Gen's portfolio of trusted brands, including Norton, Avast, LifeLock, and others.

Gen
Media Contact
Brittany Posey
[email protected]

SOURCE Gen Digital Inc.

IDEX Corporation (IEX) Citi's Global Industrial Tech & Mobility Conference 2026 February 17, 2026 2:40 PM EST

Company Participants

Eric Ashleman - CEO, President & Director
Sean Gillen - Senior VP & CFO

Conference Call Participants

Vladimir Bystricky - Citigroup Inc., Research Division

Presentation

Vladimir Bystricky
Citigroup Inc., Research Division

Good afternoon, everyone. Thanks for joining us. I'm Vlad Bystricky. I cover multis and E&Cs here at Citigroup with Team Kaplowitz. We're very excited to have IDEX joining us today, Eric Ashleman, CEO; and Sean Gillen, CFO. Eric has been CEO since December 2020 after becoming President and -- after becoming COO in 2015. And Sean recently joined IDEX as CFO just in January, coming over from serving 7 years as CFO at AAR Corp. So thanks very much, gentlemen, for being with us. We appreciate it.

Question-and-Answer Session

Vladimir Bystricky
Citigroup Inc., Research Division

Maybe I'll just start, Eric, you've talked over the past few quarters about IDEX' evolution through several phases over time and now being in Phase 3 of its evolution. So for those who are less familiar with IDEX, can you talk about what's changing at IDEX in Phase 3 and what inning of Phase 3 you think you're in?

Eric Ashleman
CEO, President & Director

Sure. So look, it's a wonderful public company story. We're not yet 40 years old. The first phase was kind of a loose holding company, so I don't spend as much time there. The second phase was when I started, was kind of 2010 to '20. So that decade, it's where we started to really drill down on 8020 more than anything else and really release the full potential of these great fundamental IDEX businesses. And so you saw a ton of margin expansion there. You saw some leaders developed. That's kind of where I rose up through the ranks and some people

Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Ardent Health (ARDT) To Contact Him Directly To Discuss Their Options

If you purchased or acquired Ardent Health securities between July 18, 2024 and November 12, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) --

What’s Happening?

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Ardent Health, Inc. (“Ardent Health” or the “Company”) (NYSE:ARDT) in the United States District Court for the Middle District of Tennessee on behalf of all persons and entities who purchased or otherwise acquired Ardent Health securities between July 18, 2024 and November 12, 2025, both dates inclusive (the “Class Period”).Investors have until March 9, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit. What are the Allegation Details?

According to the complaint, Ardent Health reported higher amounts of accounts receivable during the class period, and delayed recognizing losses on uncollectable accounts. Further, Ardent Health did not maintain professional malpractice liability insurance in amounts "sufficient to cover claims arising out of [its] operations[.]”Plaintiff alleges that on November 12, 2025, Ardent Health revealed a $43 million decrease in third quarter 2025 revenue due to revised determinations of accounts receivable collectability after the Company transitioned to a new revenue accounting system and from purported “recently completed hindsight evaluations of historical collection trends.” On this news, the price of Ardent Health stock fell $4.75 per share, or nearly 34%, from $14.05 per share on November 12, 2025, to close at $9.30 per share on November 13, 2025. What are the Next Steps?

If you purchased or otherwise acquired Ardent Health shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.
Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

The oil and natural gas company reported net income of $562 million, or 90 cents a share, compared with $639 million, or 98 cents a share, a year earlier.

SAN DIEGO--(BUSINESS WIRE)--Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced wireless connectivity solutions, today announced that it has granted inducement awards to new employees who recently joined the Company. The awards were granted on February 15, 2026, under Airgain's 2021 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Airgain as an inducement to join the company. The inducement awards to the new employees cons.

LIMA, Peru--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced 4Q25 results for production and volume sold.

Production per Metal

Three Months
Ended December 31,
2025

Year Ended
December 31,
2025

Year Ended
December 31,
2026 Guidance (1)

  Gold ounces produced

El Brocal

61.43%

5,862

21,102

15.0k - 17.0k

Orcopampa

100%

15,754

55,632

42.0k - 47.0k

Tambomayo

100%

4,870

15,842

5.0k - 6.0k

Julcani

100%

2,253

8,669

9.0k - 11.0k

La Zanja

100%

6,413

20,061

14.0k - 17.0k

San Gabriel

100%

0

0

48.0k - 55.0k

Total Direct Operations (2)

35,151

121,306

133.0k - 153.0k

Coimolache

40.094%

22,779

64,229

90.0k - 100.0k

Total incl. Associated (3)

42,023

138,919

163.3k - 186.5k

Silver ounces produced

El Brocal

61.43%

452,331

1,895,554

1.5M - 1.7M

Uchucchacua

100%

725,513

2,274,399

2.5M - 2.8M

Yumpag

100%

2,109,019

8,851,709

7.9M - 8.7M

Orcopampa

100%

2,897

18,358

-

Tambomayo

100%

386,429

1,119,821

0.2M - 0.3M

Julcani

100%

364,194

1,369,756

1.3M - 1.5M

La Zanja

100%

16,507

48,081

-

San Gabriel

100%

0

0

-

Total Direct Operations (2)

4,056,888

15,577,679

13.4M - 15.0M

Coimolache

40.094%

94,550

331,401

0.3M - 0.4M

Total incl. Associated (3)

3,920,333

14,979,436

12.9M - 14.5M

Lead metric tons produced

Uchucchacua

100%

5,299

16,050

17.0k - 19.0k

Tambomayo

100%

839

2,734

0.5k - 0.6k

Julcani

100%

205

679

-

Total Direct Operations (2)

6,343

19,464

17.5k - 19.6k

Zinc metric tons produced

Uchucchacua

100%

7,700

26,239

27.0k - 30.0k

Tambomayo

100%

781

2,781

0.8k - 1.0k

Total Direct Operations (2)

8,481

29,020

27.8k - 31.0k

Copper metric tons produced

El Brocal

61.43%

14,139

51,902

48.0k - 53.0k

Julcani

100%

111

459

-

Tambomayo

100%

33

84

-

Total Direct Operations (2)

14,283

52,445

48.0k - 53.0k

2026 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of February 2026. Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.
Volume Sold per Metal

Three Months Ended
December 31, 2025

Year Ended
December 31, 2025

  Gold ounces sold

El Brocal

3,031

11,499

Orcopampa

15,705

56,385

Tambomayo

4,390

14,238

Julcani

1,985

7,773

La Zanja

5,615

19,492

Total Direct Operations (1)

30,725

109,387

Coimolache

24,907

63,209

Total incl. Associated (2)

39,542

130,295

  Silver ounces sold

El Brocal

372,326

1,554,536

Uchucchacua

800,994

2,588,824

Yumpag

1,944,366

8,318,696

Orcopampa

2,418

20,029

Tambomayo

352,285

1,015,694

Julcani

343,479

1,300,621

La Zanja

21,133

89,310

Buenaventura Trading (3)

22,106

81,665

Total Direct Operations (1)

3,859,107

14,969,375

Coimolache

102,611

326,084

Total incl. Associated (2)

3,756,642

14,500,531

  Lead metric tons sold

Uchucchacua

4,693

14,987

Yumpag

97

231

Tambomayo

632

2,121

Julcani

178

603

Total Direct Operations (1)

5,600

17,941

  Zinc metric tons sold

Uchucchacua

6,081

21,835

Tambomayo

630

2,143

Julcani

2

2

Total Direct Operations (1)

6,713

23,980

  Copper metric tons sold

El Brocal

13,547

49,124

Tambomayo

121

404

Julcani

21

58

Buenaventura Trading (3)

2,259

8,843

Total Direct Operations (1)

15,949

58,429

Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of Buenaventura Trading, 61.43% of El Brocal and 40.094% of Coimolache. Buenaventura Trading is the vehicle through which Buenaventura purchases copper concentrate from Freeport, produced at Cerro Verde — a company in which Buenaventura holds a 19.58% stake. The concentrate is then sold on the spot market via Buenaventura Trading. Average realized prices(1)(2)

Three Months Ended
December 31, 2025

Year Ended
December 31, 2025

  Gold (US$/Oz)

4,214

3,547

Silver (US$/Oz)

58.55

41.87

Lead (US$/MT)

1,956

1,912

Zinc (US$/MT)

3,188

2,844

Copper (US$/MT)

11,241

10,071

Considers Buenaventura consolidated figures. Realized prices include both provisional sales and final adjustments for price changes. Commentary on Operations

Tambomayo: 2025 gold, silver, lead and zinc production were in line with the Company’s full year guidance.

2026 Guidance: Buenaventura expects gold, silver, lead, and zinc production at its Tambomayo operations to decrease relative to 2025. The Company expects an approximately 65% decrease in throughput for the year, as well as lower gold, silver, lead, and zinc grades as the mining sequence progresses into lower-grade areas at this asset.

Orcopampa: 2025 gold production exceeded revised guidance, driven primarily by higher-than-expected grades. The increase primarily reflects the Company’s success in reassessing areas previously classified as non‑mineable, which have since been safely brought into production through the application of Under Cut‑and‑Fill (UCF) and Over Cut‑and‑Fill (OCF) mining methods. 2025 silver production was in line with guidance.

2026 Guidance: In 2026, the Company will continue applying Under Cut‑and‑Fill (UCF) and Over Cut‑and‑Fill (OCF) mining methods, supporting the extension of mine life into 2026. Production guidance reflects an anticipated 20% year-over-year decrease in gold output, primarily due to lower gold grades expected in the mining areas scheduled for this year.

Coimolache: 2025 gold production exceeded full year 2025 guidance, primarily driven by higher volumes of processed ore and an accelerated percolation rate at the leach pad.

2026 Guidance: The Company expects a year‑over‑year increase in gold production, as 2026 will mark Coimolache’s first full 12 months of operations at full capacity following the receipt of all required permits.

Julcani: 2025 gold and silver production was in line with 2025 guidance.

2026 Guidance: The Company expects a year‑over‑year increase in gold production, while silver production is expected to remain consistent with 2025 levels. Throughput is projected to increase by approximately 10%, driven by a greater contribution of ore from the Achilla sector. In the Socorro sector, gold grades are expected to improve as the mining sequence advances into higher‑grade areas; however, silver grades in this sector are expected to decline.

Uchucchacua: 2025 silver, lead, and zinc production was in line with guidance for 2025.

2026 Guidance: Buenaventura anticipates a year-over-year increase in silver, lead, and zinc production, supported by an expected approximately 20% increase in throughput for 2026. The increase reflects ongoing operational optimization at Uchucchacua, where processing capacity is projected to increase to 2,500 tonnes per day (tpd) by year-end 2026, an increase from the current 2,000 tpd.

Yumpag: 2025 silver production exceeded guidance, reflecting higher than expected grades.

2026 Guidance: Buenaventura expects higher year‑over‑year ore volumes to be processed, supported by the mining extraction rate expansion requested in 2025, which would enable operations to reach 1,200 tonnes per day, subject to approval expected in the third quarter of 2026. This increase in volumes is anticipated to be partially offset by lower silver grades, resulting in a year‑over‑year decrease in silver production.

El Brocal: 2025 gold and silver production was in line with guidance for the year. 2025 copper production was below revised guidance, primarily due to delays in mine development. As a result, certain high‑grade stopes are now expected to be mined in the first quarter of 2026.

2026 Guidance: Buenaventura expects copper production to remain broadly consistent with 2025 levels as the underground mine ramp-up continues, partially offset by lower copper grades. The Company aims to maintain a stable average underground mining rate of 13,000 tonnes per day throughout the year. Gold and silver production at El Brocal is expected to decrease in 2026 due to lower grades.

La Zanja: 2025 gold and silver production was in line with guidance for the full year 2025.

2026 Guidance: Guidance reflects an anticipated 25% year‑over‑year decrease in gold production, primarily driven by the planned re-leaching sequence at the leach pad.

San Gabriel: 2025 gold production was below revised full year guidance, primarily due to delays in obtaining the required permits. While the first doré bar was produced during the year, the operation did not achieve commercial production in 2025.

2026 Guidance: Construction and mine development activities enabling the start of commercial production at San Gabriel have been completed. During 1Q26, Buenaventura will focus on completing the commissioning of the remaining components, primarily related to the filtered tailings plant, and on enhancing the ventilation system with additional equipment.

Regarding permitting and required approvals, San Gabriel received the initial operating permit. The Company expects to receive the definitive operating permit and water license in the coming weeks.

1Q26 production will primarily be sourced from existing stockpiles, while mining activities will progressively start in areas closer to the surface. These timing and mining area adjustments have impacted prior production estimates.

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).

The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).

(*) Operations wholly owned by Buenaventura.

Note on Forward-Looking Statements

This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.

More News From Compañía de Minas Buenaventura S.A.A.

NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces an investigation of potential breaches of fiduciary duties by the directors and officers of BlackRock, Inc. (NYSE: BLK). If you currently own shares of BlackRock stock, please visit the firm's website at https://rosenlegal.com/submit-form/?case_id=53546 for more information. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected]. Why Rosen Law: We enc.

If you purchased or acquired Fermi: (a) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s October 2025 initial public offering (“IPO” or the “Offering”); and/or (b) securities between October 1, 2025 and December 11, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

Click here to participate in the action.

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) --

What’s Happening?

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Fermi, Inc. (“Fermi” or the “Company”) (NASDAQ:FRMI) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Fermi: (a) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s October 2025 initial public offering (“IPO” or the “Offering”); and/or (b) securities between October 1, 2025 and December 11, 2025 , both dates inclusive (the “Class Period”).Investors have until March 6, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
What are the Allegation Details?

The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding Fermi’s business, operations, and prospects, including allegations that: (1) the Company overstated its tenant demand for its Project Matador campus; (2) the extent to which Project Matador would rely on a single tenant’s funding commitment to finance the construction of Project Matador; (3) there was a significant risk that that tenant would terminate its funding commitment; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. What are the Next Steps?

If you purchased or otherwise acquired Fermi shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

PASCAGOULA, Miss.--(BUSINESS WIRE)--Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income in the fourth quarter of $973 thousand, or $0.72 per share, compared with earnings of $2.262 million, or $1.70 per share, in the same period of the prior year. Gross income in the fourth quarter of 2025 totaled $14.39 million, an increase of 10.86% from the same quarter in the prior year. Balance sheet footings increased by 31.29% to $941.19 million during the 12 months ended December 31, 2025. Net loans retreated slightly to $445.54 million at December 31, 2025 from $464.36 million at the end of the same period in the prior year, a decrease of 4.05%. Total deposits increased 4.32% from the same period in the prior year, from $573.53 million to $598.28 million. Balance sheet growth, and the significant increase in interest expense related to borrowings resulted from a temporary balance sheet strategy employed in the second quarter. This strategy consisted of match-funding $200 million in variable rate Ginnie Mae guaranteed Home Equity Conversion Mortgage (HECM) mortgage-backed securities with monthly-repricing borrowings from the Federal Home Loan Bank of Dallas. This allowed the company to garner approximately an 80 basis points spread with virtually zero interest rate risk and no credit risk. Management intends to liquidate some or all of this position upon its merger with Farmers-Merchants Bank and Trust Company, which was announced during the fourth quarter of 2025.

Selected financial highlights:

Net loans declined by $18.82 million, or 4.05%, from December 31, 2024. The bulk of this was due to the planned payoff of two large transactional loans in the Mississippi River Bank brand. Interest income for the year totaled $46.14 million, compared to $39.58 million in 2024. The 23.96% increase is a result of increased interest on securities as a part of the previously mentioned balance sheet strategy, as well as continued improvement in overall loan yields through repricing of maturing loans in our banking brands. The company’s cost of deposits remains exceptionally low, totaling 0.49% during the fourth quarter, significantly below industry averages. Furthermore, the company saw deposit growth of $24.75 million, or 4.32%, during 2026. While overall cost of funds increased to 1.26% from 0.58% in the same period in the prior year, this increase is almost exclusively linked to the variable rate Federal Home Loan Bank borrowings that are funding the previously mentioned balance sheet strategy. Credit quality remained strong at year end. The ratio of loans past due 30-89 days totaled 0.87% of total loans at the end 2025, compared to 1.13% at the end of 2024. Accumulated Other Comprehensive Income (AOCI) mark-to-market losses in the securities portfolio decreased 29.05% to ($6.58 million) at the end of 2025 from ($9.27 million) at the end of 2024. This is especially significant given the previously mentioned balance sheet strategy, which more than doubled the company’s securities portfolio during 2026. “Top line performance continues to increase substantially, due to continued gains in loan yields along with growth in very low-interest deposits, and partially due to our HECM match-funded bond strategy,” remarked Casey Hill, the company’s Chief Financial Officer. He continued “While revenues saw significant improvement, keeping with the trends of recent years, those gains did not translate to our bottom line due to operational preparation and legal expenses associated with our pending acquisition of Farmers-Merchants Bank & Trust. However, upon consummation of that merger in the early second quarter of 2026, we expect to realize significant efficiencies and materially higher net income. FM Bank is already a very strong earner, and we will benefit from being able to more fully leverage operational capacities we’ve built in anticipation of growth across a larger base. We very much look forward to considerable positive movement in the shareholder value that will be created by the addition of the newest member of our Family of Brands.”

In the second quarter of the year, the company employed a carefully constructed balance sheet strategy to supplement earnings without taking on additional interest rate of credit risk, and without requiring additional capital. This was done by purchasing $200 million in floating rate Ginnie Mae guaranteed HECM Mortgage-Backed Securities. Those securities are variable rate and reprice at the beginning of each month. These securities were match funded with an equivalent amount of Federal Home Loan Bank advances, which are refunded monthly as the securities reprice. Management believes this structure virtually eliminates any interest rate risk, while the explicit payment guarantee of Ginnie Mae eliminates any credit risk. The net yield on the strategy is roughly 80 basis points.

“In addition to the upcoming merger, there were several other bright spots worth mentioning in the fourth quarter. Net income in the most recent quarter was the strongest of the year, with income continuing to accelerate as our ancillary brands, particularly Canvas Mortgage and Voyager Lending. Both have healthy pipelines and are pushing toward a framework that is not only profitable, but scalable as we continue adding to our Family of Brands. Indeed, 2026 is shaping up to be a very transformative year for our company, and one that we have been intentionally structuring around for quite some time,” Hill said.

“We have been intentional in using the strength of our balance sheet to build capacity for sustainable growth across our Family of Brands. That position of strength reflects the discipline and talent of our bankers and support teams, who have built low-cost funding, strong credit quality, and scalable infrastructure. As a result, we are now able to approach expanding our Family of Brands through mergers and acquisitions as a disciplined, repeatable line of business — pairing organic momentum with strategic expansion – like our partnership with FM Bank – to create long-term value for our shareholders and the communities we serve,” remarked Clayton Legear, President & CEO of the company.

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) is the parent company of Merchants & Marine Bank, a Mississippi chartered community bank serving the Gulf South region. Originally founded in 1899, Merchants & Marine Bank was reborn in 1932 during the middle of the worst economic disaster in the history of the United States: The Great Depression. More than eight decades later, Merchants & Marine Bank has grown from $25,000 to nearly $1 billion in assets. The Bank offers banking services to customers in Southern Mississippi and Coastal Alabama under its legacy Merchants & Marine Bank brand, and in Southern Louisiana through its Mississippi River Bank brand. It offers mortgage financing through its Canvas Mortgage brand, medical cannabis banking through its CannaFirst Financial brand, and access to government-guaranteed credit through its Voyager Lending brand. It provides bank operational, risk, finance, and support services through its Community of Resources bank services brand. For more information on Merchants & Marine Bancorp, Inc., visit https://mandmbank.com/investor-relations

Cautionary Statement Regarding Forward-Looking Statements

This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: (i) the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; (ii) slower economic growth rates or potential recession in the United States and our market areas; (iii) the impacts related to or resulting from uncertainty in the banking industry as a whole; (iv) increased competition for deposits among traditional and nontraditional financial services companies, and related changes in deposit customer behavior; (v) the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or further reductions in interest rates and a resulting decline in net interest income; (vi) the lingering inflationary pressures, and the risk of the resurgence of elevated levels of inflation, in the United States and our market areas; (vii) the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Federal Reserve; (viii) changes in unemployment rates in the United States and our market areas; (ix) adverse changes in customer spending, borrowing and savings habits; (x) declines in commercial real estate values and prices; (xi) a deterioration of the credit rating for U.S. long-term sovereign debt or the impact of uncertain or changing political conditions, including federal government shutdowns and uncertainty regarding United States fiscal debt, deficit and budget matters; (xii) cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; (xiii) severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of in the policies of the current U.S. presidential administration or Congress; (xiv) the impact of tariffs, sanctions and other trade policies of the U.S. and its global trading counterparts and the resulting impact on the Company and its customers; (xv) the maintenance and development of well-established and valued client relationships and referral source relationships; (xvi) acquisition or loss of key production personnel; (xvii) changes in tax laws; (xviii) the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; (xix) potential costs related to the impacts of climate change; (xx) current or future litigation, regulatory examinations or other legal and/or regulatory actions; (xxi) risks related to the Company's acquisitions generally, including disruption to current plans and operations; (xxiii) our ability to recognize the expected benefits and synergies of our completed acquisitions; and (xxiv) our ability to successfully complete the conversion of the core data processing systems of acquired banks into the core data processing system of the Bank. These forward-looking statements are based on current information and/or management's good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

Available Information

The Company maintains an Internet web site at www.mandmbank.com/investor-relations. The Company makes available, free of charge, on its web site the Company's annual reports, quarterly earnings reports, and other press releases. In addition, the OTC Markets Group maintains an Internet site that contains reports, proxy and information statements, and other information regarding the Company (at www.otcmarkets.com/stock/MNMB/overview).

The Company routinely posts important information for investors on its web site (under www.mandmbank.com and, more specifically, under the Investor Relations tab at www.mandmbank.com/investor-relations). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under the OTC Markets Group OTCQX Rules for U.S. Banks. Accordingly, investors should monitor the Company's web site, in addition to following the Company's press releases, OTC filings, public conference calls, presentations and webcasts.

The information contained on, or that may be accessed through, the Company's web site is not incorporated by reference into, and is not a part of, this press release.

Member FDIC

MERCHANTS & MARINE BANCORP, INC. CONSOLIDATED FINANCIALS (UNAUDITED) BALANCE SHEET   ASSETS December 31, 2025 December 31, 2024 TOTAL CASH & DUE FROM 76,606,248.59

33,405,683.13

  TOTAL SECURITIES 334,340,456.08

142,175,353.29

TOTAL FEDERAL FUNDS SOLD 16,051.54

56,908.14

  TOTAL LOANS 450,898,498.32

470,647,633.02

Begin Year Reserve for Loss (6,286,501.00

)

(7,684,072.00

)

Recoveries on Charge Off (471,344.41

)

(286,793.72

)

Charge Offs Current Year 1,932,968.54

2,067,164.41

Allowance-Current Year (536,772.14

)

(382,799.69

)

RESERVE FOR LOSSES ON LOANS (5,361,649.01

)

(6,286,501.00

)

NET LOANS 445,536,849.31

464,361,132.02

  NET FIXED ASSETS 37,996,499.16

30,715,628.87

  Other Real Estate -

-

Other Assets 46,695,512.10

46,148,412.91

TOTAL OTHER ASSETS 46,695,512.10

46,148,412.91

TOTAL ASSETS $

941,191,616.78

$

716,863,118.36

  LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Demand Deposits $

409,229,765.95

$

392,713,975.08

Public Funds 21,808,152.47

17,927,764.98

TOTAL DEMAND DEPOSITS 431,037,918.42

410,641,740.06

  Savings 115,493,243.99

109,268,070.25

C D's 42,926,423.84

44,156,218.05

I R A's 6,351,873.28

6,994,815.34

CDARS 2,473,002.44

2,469,878.34

TOTAL TIME & SAVINGS DEPOSITS 167,244,543.55

162,888,981.98

TOTAL DEPOSITS 598,282,461.97

573,530,722.04

  SECURITIES SOLD UNDER REPO & BORRROWINGS 201,000,000.00

4,336,218.44

  DIVIDENDS PAYABLE 731,685.90

731,685.90

  TOTAL OTHER LIABILITIES 10,130,198.54

12,214,293.28

  Stockholders' Equity Preferred Stock $

50,595,000.00

$

50,595,000.00

Common Stock 3,325,845.00

3,325,845.00

Earned Surplus 14,500,000.00

14,500,000.00

Undivided Profits 68,253,240.46

65,258,513.91

Current Profits 4,283,538.92

5,935,616.65

Total Unrealized Gain/Loss AFS (6,577,906.01

)

(9,271,626.86

)

Defined Benefit Pension FASB 158 (3,332,448.00

)

(4,293,150.00

)

TOTAL CAPITAL 131,047,270.37

126,050,198.70

  TOTAL LIABILITIES & CAPITAL $

941,191,616.78

$

716,863,118.36

MERCHANTS & MARINE BANCORP, INC. CONSOLIDATED FINANCIALS (UNAUDITED) INCOME STATEMENT ACCOUNT NAME TWELVE MONTHS
ENDED DEC 31, 2025 TWELVE MONTHS
ENDED DEC 31, 2024 Interest & Fees on Loans $

33,169,119.71

$

31,852,273.83

Interest on Securities Portfolio 11,858,424.33

7,227,200.13

Interest on Fed Funds & EBA 1,114,405.96

504,680.31

TOTAL INTEREST INCOME 46,141,950.00

39,584,154.27

  Total Service Charges 3,478,230.40

3,361,740.85

Total Miscellaneous Income 5,061,472.67

7,375,247.20

TOTAL NON INT INCOME 8,539,703.07

10,736,988.05

  Gains/(Losses) on Secs -

223,291.82

Gains/(Losses) on Sales REO -

823.47

Gains/(Losses) on Sale of Loans -

-

TOTAL INCOME 54,681,653.07

50,545,257.61

  TOTAL INT ON DEPOSITS 2,750,037.05

2,347,263.72

Int on Borrowings/Sec Sold Repo 5,898,264.73

1,775,366.06

TOTAL INT EXPENSE 8,648,301.78

4,122,629.78

  PROVISION-LOAN LOSS 557,745.31

391,992.69

  Salary & Employee Benefits 22,816,480.35

21,507,825.72

Total Premises Expense 6,331,144.76

8,479,657.92

FDIC, Sales and Franchise 573,297.90

535,006.53

Professional Fees 1,686,697.55

2,237,332.03

Miscellaneous Office Expense 973,209.08

835,149.05

Dues, Donations and Advertising 690,349.16

761,393.35

Checking, ATM/Debit Card Expenses 4,506,067.22

2,024,029.32

ORE Expenses 6,133.83

269.64

Total Miscellaneous Expense 2,928,178.66

2,617,354.93

TOTAL OTHER OPERATING 40,511,558.51

38,998,018.49

  FEDERAL & STATE INCOME TAXES 680,508.55

1,097,000.00

  TOTAL EXPENSES 50,398,114.15

44,609,640.96

NET INCOME $

4,283,538.92

$

5,935,616.65

Preferred Stock Dividends $

1,011,900.00

$

528,436.67

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $

3,271,638.92

$

5,407,179.98

More News From Merchants & Marine Bancorp, Inc.

A Palo Alto Networks logo is seen in this illustration taken August 18, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

Feb 17 (Reuters) - Palo Alto Networks (PANW.O), opens new tab trimmed its annual profit forecast on Tuesday, signaling rising costs from recent acquisitions to enhance AI capabilities, sending the cybersecurity company's shares down around 7% in extended trading.

The company announced on Tuesday the acquisition of Israeli cybersecurity startup Koi, following last July's purchase of CyberArk Software in its largest deal to date and the buyout of Chronosphere in November, as it steps up efforts to counter AI-driven cyber threats.

Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.

Palo Alto said acquisition-related costs jumped to $24 million in the second quarter, from $10 million a year earlier.

While acquisitions expand the total addressable market, the company has acknowledged the challenge of effectively integrating larger acquired companies, such as CyberArk, which require more reengineering and restructuring.

The company now expects adjusted profit per share of $3.65 to $3.70 for its fiscal 2026, down from its prior forecast of $3.80 to $3.90.

However, Palo Alto raised its annual revenue forecast to between $11.28 billion and $11.31 billion, compared with its earlier expectations of $10.50 billion to $10.54 billion.

Clients are stepping up investments in modernizing their security operations amid a wave of high-profile cyberattacks that have hit global companies, including F5 (FFIV.O), opens new tab and UnitedHealth Group (UNH.N), opens new tab.

The company said its quarterly and annual forecasts are inclusive of both CyberArk and Chronosphere acquisitions.

Palo Alto forecast third-quarter revenue of about $2.94 billion to $2.95 billion, above analysts' average estimate of $2.60 billion, according to data compiled by LSEG.

Its quarterly adjusted profit per share forecast of 78 cents to 80 cents was below estimates of 92 cents.

Revenue for the second quarter rose 15% to $2.59 billion, in line with estimates.

Adjusted profit per share of $1.03 beat estimates of 94 cents for the three months ended January 31.

Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona and Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AGNC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Trip.com Group Limited (NASDAQ: TCOM) resulting from allegations that Trip.com Group Limited may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Trip.com Group Limited securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=50668 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On January 14, 2026, Investing.com published an article entitled “Trip.com stock falls after Chinese regulators launch antitrust probe.” The article stated that Trip.com stock fell after “the Chinese travel service provider disclosed it is under investigation by China’s market regulator for potential antitrust violations.”

On this news, Trip.com American Depositary Shares (“ADS”) fell 17% on January 14, 2026.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Picard Medical, Inc. (“Picard” or the “Company”) (NYSE: PMI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Picard and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until April 3, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Picard securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

In the weeks leading up to October 23, 2025, Picard’s stock price surged from its IPO price of $4.00 per share to an all-time high of $13.68 per share, despite no fundamental news from the Company to justify such a spike. Investigations have since revealed that Picard’s stock was the subject of an illicit social-media-based promotion scheme that artificially inflated its price, in which impersonators claiming to be legitimate financial advisors touted Picard with sensational but baseless claims to create a buying frenzy among retail investors.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Danielle Peyton 
Pomerantz LLP 
[email protected] 
646-581-9980 ext. 7980

New York, New York--(Newsfile Corp. - February 17, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds all former stockholders of Smartsheet Inc. (NYSE: SMAR) in connection with the January 2025 sale (the "Merger" or "Buyout") of Smartsheet to affiliates of investment funds managed by affiliates of Blackstone Inc. (collectively "Blackstone"), investment funds managed by Vista Equity Partners Management, LLC ("Vista Equity Partners" or "Vista"), and Platinum Falcon B 2018 RSC Limited, an indirect wholly owned subsidiary of the Abu Dhabi Investment Authority, which participated as an indirect minority investor in Smartsheet ("Platinum Falcon," and together with Blackstone and Vista, the "Consortium"), of the important February 24, 2026 lead plaintiff deadline.

SO WHAT: If you are a former Smartsheet stockholder, you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Smartsheet class action, go to https://rosenlegal.com/submit-form/?case_id=49166 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 24, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The complaint alleges that in connection with Smartsheet's solicitation of stockholder approval of the Buyout, defendants issued and filed with the SEC a false and misleading Schedule 14A Proxy statement, as amended (the "Proxy"). Defendants used the Proxy to intentionally mischaracterize Smartsheet's financial success and performance during and in the context of Smartsheet's sales process. Specifically, defendants deliberately cast Smartsheet's quarterly earnings in a negative light in the Proxy, and emphasized a financial metric that it apparently made up just for the purposes of soliciting approval for the Buyout. Additionally, it was alleged that defendant Mark P. Mader failed to use reasonable care in the fulfillment of his disclosure duties.

To join the Smartsheet class action, go to https://rosenlegal.com/submit-form/?case_id=49166 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284166

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Plug Power Inc. (NASDAQ: PLUG) between January 17, 2025 and November 13, 2025, inclusive (the “Class Period”), of the important April 3, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Plug Power securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Plug Power class action, go to https://rosenlegal.com/submit-form/?case_id=1011 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 3, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants had materially overstated the likelihood that funds attributed to the U.S. Department of Energy’s Loan would ultimately become available to Plug Power, and/or that Plug Power would ultimately construct the hydrogen production facilities necessary to receive those funds; (2) as such, Plug Power was likely to pivot toward more modest projects with less commercial upside; and (3) as a result, Plug Power’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Plug Power class action, go to https://rosenlegal.com/submit-form/?case_id=1011 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

APi Group Corporation (APG) Citi's Global Industrial Tech & Mobility Conference 2026 February 17, 2026 1:00 PM EST

Company Participants

Russell Becker - CEO, President & Director
Glenn Jackola - Executive VP & CFO

Conference Call Participants

Andrew Kaplowitz - Citigroup Inc., Research Division
Andrew Kaplowitz - Citigroup Inc. Exchange Research

Presentation

Andrew Kaplowitz
Citigroup Inc., Research Division

I know we'll have a few stragglers coming in, but let's get started. Again, we're very excited to have APi Group with us today.

We've got Russ Becker, who is the CEO, President of APi Group; and David Jaco, who is the CFO. Russ, as I sort of make my way to you. Let me ask you kind of a softball question, like you've been CEO of a public company now for about 5 years, right? Like maybe biggest challenges and what you're most proud of so far? And then maybe it's a very unique business model, as you and I have talked about many times. So what keeps you ahead of the crowd. What keeps you differentiated?

Question-and-Answer Session

Russell Becker
CEO, President & Director

What am I most proud of survival.

Andrew Kaplowitz
Citigroup Inc., Research Division

That's why I won't ask you a question because I knew I get a colorful answer.

Russell Becker
CEO, President & Director

It's funny. We just were having a conversation like when we were privately held everybody talks about, I never want to be a public company CEO. I never want to be a public company CEO. I never want to be a public company CEO. And I've actually been having a lot of fun as a public company CEO. I think it's actually made me better at my job, and I feel like I'm a better CEO today than I was 5 or 6 years ago. And one of the biggest

ORLANDO, Fla.--(BUSINESS WIRE)--Falcon's Beyond Global, Inc. (Nasdaq: FBYD) (“Falcon's Beyond”, “Falcon's”, or the “Company”), a visionary leader in innovative and immersive storytelling today announced the appointment of Iraida Que De Vera to the Company's Board of Directors. Iraida Que De Vera is the Founder and CEO of Amor Maximus, a private family office and strategic advisory platform focused on real estate, capital stewardship, and multigenerational legacy planning. Iraida Que De Vera has.

Immunic Inc (NASDAQ:IMUX) said on Tuesday it has closed a previously disclosed private placement financing, raising $200 million upfront with the potential to secure up to an additional $200 million.

The New York-based biotechnology company issued just over 229 million pre-funded warrants at a price of $0.873 each, generating gross upfront proceeds of $200 million.

Under the terms of the securities purchase agreement, Immunic also issued warrants to purchase the same amount of shares of its common stock, or pre-funded warrants in lieu thereof, at an exercise price of $0.873 per share. If fully exercised, the warrants would provide up to an additional $200 million in gross proceeds.

The additional warrants will expire upon the earlier of 30 days after the public announcement of top-line data from the company’s Phase 3 ENSURE trials or in February 2031.

Immunic said it expects the upfront proceeds, together with its existing cash, cash equivalents and marketable securities, to fund operating and capital expenditures into late 2027.

The company plans to use the net proceeds to complete its Phase 3 ENSURE trials in relapsing multiple sclerosis, initiate a Phase 3 trial in primary progressive multiple sclerosis, and support its transition toward becoming a commercial-stage organization, as well as for other general corporate purposes.