Clinical development of ARD-101 for hyperphagia in Prader-Willi Syndrome (PWS) may resume

Aardvark will host a webcast to review available dataset from the terminated Phase 3 HERO trial and OLE trial on Friday, October 23, 2026, at 8:00 a.m. EST

SAN DIEGO, Oct. 22, 2026 (GLOBE NEWSWIRE) — Aardvark Therapeutics, Inc. (Aardvark or the Company) (Nasdaq: AARD), a clinical-stage biopharmaceutical company developing novel, small-molecule therapeutics designed to suppress hunger for the treatment of Prader-Willi Syndrome (PWS) and metabolic diseases, today announced that the U.S. Food and Drug Administration (FDA) has lifted the clinical hold on the Company’s Investigational New Drug application for ARD-101 for the treatment of hyperphagia in PWS.

“We are pleased that the FDA has lifted the clinical hold on ARD-101, allowing us to continue advancing our clinical development program,” said Tien Lee, M.D., Founder and Chief Executive Officer of Aardvark. “With strong alignment and collaboration with the FDA, we completed the work necessary to allow for the resumption of clinical studies. People living with PWS and their families continue to face profound unmet need, and we look forward to working with the FDA as we advance ARD-101.”

On February 27, 2026, Aardvark voluntarily paused dosing in the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial and its open-label extension (OLE) trial following reversible electrocardiogram (ECG) changes observed during routine safety monitoring in a separate study in healthy volunteers. In May 2026, the FDA placed a clinical hold on the HERO trial and OLE trial. In alignment with the FDA, the Company conducted a thorough ECG study in additional healthy volunteers and an in vitro cardiac sodium channel (NaV1.5) study. No cardiac events were observed in the recently completed ECG study at ARD-101 doses of 200 mg and 400 mg twice daily.

Aardvark plans to resume clinical development of ARD-101 in patients with PWS following additional anticipated engagement and alignment with the FDA on the Phase 3 trial design. As previously announced, Aardvark unblinded the data accumulated across both the HERO trial and OLE trial to assess the totality of available efficacy and safety data.

Conference Call and Webcast

The Company will host a live conference call and webcast for investors to discuss data from the terminated HERO and OLE trials tomorrow, October 23, 2026, at 8:00 AM ET. To access the live conference call, participants may register here. To access the live webcast and subsequent archived recording of this event, please visit the Investors section of Aardvark’s website.

About ARD-101

ARD-101 is an oral, small-molecule therapeutic designed to stimulate the release of gut-peptide hormones through activation of bitter taste receptors. ARD-101 is being developed as a treatment for hyperphagia associated with Prader-Willi Syndrome, a rare genetic disorder characterized by insatiable hunger.

About Aardvark Therapeutics, Inc.

Aardvark is a clinical-stage biopharmaceutical company developing novel, small-molecule therapeutics designed to suppress hunger for the treatment of Prader-Willi Syndrome (PWS) and metabolic diseases. Hunger, which is the discomfort from not having eaten recently, is a distinct neural signaling pathway separate from appetite, the reward-seeking desire for food. Our programs explore therapeutic applications in hunger-associated indications and potential complementary uses with anti-appetite therapies. For more information, visit www.aardvarktherapeutics.com.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements concerning: Aardvark’s business strategy, product candidates, the path forward for ARD-101, including the anticipated resumption of the clinical development of ARD-101 and any further engagement and alignment with the FDA prior to such resumption, as well as plans and objectives of management for future operations. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the risk that the FDA may not agree with Aardvark’s proposed Phase 3 program or may require additional studies; limitations in interpreting data from the HERO trial and its OLE trial, which were terminated early and were not powered to assess efficacy; the risk of unfavorable clinical trial results; the risk that results from earlier clinical trials and preclinical studies may not necessarily be predictive of future results; the risk that Aardvark may use its capital resources sooner than expected; and other risks and uncertainties, including the factors described under the “Risk Factors” section of Aardvark’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission on August 11, 2026. When evaluating Aardvark’s business and prospects, careful consideration should be given to these risks and uncertainties. Any forward-looking statements contained in this press release are based on the current expectations of Aardvark’s management team and speak only as of the date hereof, and Aardvark specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

Investor and Media Contact
Argot Partners
(212) 600-1902
Aardvark@Argotpartners.com 

RALEIGH, N.C., Oct. 22, 2026 (GLOBE NEWSWIRE) — Highwoods Properties, Inc. (NYSE:HIW) announces its Board of Directors has declared a cash dividend of $0.50 per share of common stock for the quarter ended September 30, 2026, which equates to an annualized dividend of $2.00 per share. This quarterly dividend is payable on December 8, 2026 to all holders of record as of November 16, 2026.

The Board also declared a cash dividend of $21.5625 per share of the Company’s 8 5/8% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on November 30, 2026 which is the next regularly scheduled dividend payment date, to all holders of record as of November 16, 2026.

About Highwoods
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh and Tampa. Our vision is to be a leader in the evolution of commercial real estate for the benefit of our customers, our communities and those who invest with us. Our mission is to create environments and experiences that inspire our teammates and our customers to achieve more together. We are in the work-placemaking business and believe that by creating exceptional environments and experiences, we can deliver greater value to our customers, their teammates and, in turn, our shareholders. For more information about Highwoods, please visit our website at www.highwoods.com.

Contact: Brendan Maiorana
  Executive Vice President and Chief Financial Officer
  brendan.maiorana@highwoods.com
  919-872-4924

ALEXANDRIA, Va., Oct. 22, 2026 (GLOBE NEWSWIRE) — Burke & Herbert Financial Services Corp. (the “Company” or “Burke & Herbert”) (Nasdaq: BHRB) reported financial results for the quarter ended September 30, 2026. In addition, at its meeting on October 22, 2026, the board of directors declared a $0.55 per share regular cash dividend to be paid on December 1, 2026, to shareholders of record as of the close of business on November 13, 2026.

From David P. Boyle, Company Chair and Chief Executive Officer

“Our third quarter results reflect disciplined execution and continued momentum across the Company. Core earnings were strong, asset quality remains consistent with our moderate risk profile, and we once again delivered top-quartile returns compared to our peers. We also completed a $100 million subordinated debt offering, further strengthening our capital position and providing additional financial flexibility to support profitable growth. Our team continues to execute well, and we remain focused on delivering long-term value for our shareholders, customers, employees, and communities.”

Q3 2026 Highlights

  • Financial results reflect a full quarter following the May 1, 2026, completion of the merger of LINKBANCORP, Inc. (“LNKB”), with and into Burke & Herbert and the merger of LINKBANK with and into Burke & Herbert Bank & Trust Company.
  • The Company reported net income applicable to common shares of $36.2 million for the quarter and diluted earnings per common share (“EPS”) of $1.78; excluding merger-related items and other related items, adjusted (non-GAAP1) operating net income applicable to common shares was $43.4 million for the quarter and adjusted (non-GAAP1) diluted EPS was $2.14.
  • For the quarter, the annualized return on average assets (“ROA”) was 1.30%, the annualized return on average common equity (“ROCE”) was 12.02%, and the annualized return on average tangible common equity (“ROATCE”) (non-GAAP1) was 14.14%.
  • On an adjusted basis (non-GAAP1), ROA was 1.57%, ROCE was 14.42%, and ROATCE was 16.96%.
  • Total shareholders’ equity was $1.2 billion and tangible common equity to tangible assets (non-GAAP1) was 8.77%, reflecting the Company’s strong capital position.
  • Ending total gross loans were $8.1 billion and ending total deposits were $9.0 billion; ending loan-to-deposit ratio was 90.0%. The net interest margin (non-GAAP1) was 4.21% for the three months ended September 30, 2026.
  • The balance sheet remains strong with ample liquidity. Total liquidity, including all available borrowing capacity with cash and cash equivalents, totaled $6.5 billion at the end of the third quarter.
  • The Company continues to be well-capitalized, ending the quarter with 12.03%2 Common Equity Tier 1 capital to risk-weighted assets, 15.45%2 Total risk-based capital to risk-weighted assets, and a leverage ratio of 10.43%.2

Results of Operations

Third Quarter 2026 compared to Second Quarter 2026

The Company reported third quarter 2026 net income applicable to common shares of $36.2 million, or $1.78 per diluted common share, compared to second quarter 2026 net income applicable to common shares of $9.3 million, or $0.50 per diluted common share.

  • Period-end total gross loans were $8.1 billion at September 30, 2026, an increase of $62.2 million from June 30, 2026. The Company originated $406.9 million of new, relationship-based loan commitments during the quarter.
  • Period-end total deposits were $9.0 billion at September 30, 2026, a decrease of $12.4 million from June 30, 2026. Brokered deposits totaled $120.7 million at September 30, 2026, which represented only 1.35% of total deposits.
  • Net interest income for the quarter was $105.0 million compared to $93.0 million in the prior quarter due to an increase in interest income of $17.7 million, which was partially offset by an increase in interest expense of $5.8 million, primarily due to the full quarter impact of LNKB.
  • Net interest margin on a fully taxable-equivalent basis (non-GAAP1) increased to 4.21% versus 4.15% in the second quarter of 2026, driven by growth in both the average balance on total loans and higher yields on total loans, partially offset by higher funding costs. The increase reflected a full quarter of LNKB results and a rising interest rate environment.
  • Accretion income on loans during the quarter was $9.3 million, and the amortization expense impact on interest expense was $1.5 million, or 30.4 bps of net interest margin on an annualized basis in the third quarter of 2026. In the prior quarter, accretion income on loans during the quarter was $9.3 million, and the amortization expense impact on interest expense was $1.5 million, or 34.0 bps of net interest margin on an annualized basis.
  • The cost of total deposits, including non-interest bearing deposits, was 1.83% in the third quarter of 2026, compared to 1.75% in the second quarter of 2026. The increase in the cost of deposits was mostly due to increases in both the average balance of total interest-bearing deposits and the rates paid on total interest-bearing deposits compared to the second quarter of 2026. The increase reflected a full quarter of LNKB results and a rising interest rate environment.
  • The Company recorded credit provision expense in the third quarter of 2026 of $1.5 million on loans and a recapture of credit loss expense of $0.8 million on unfunded commitments. The Company’s allowance for credit losses as of September 30, 2026, was $92.5 million, or 1.15% of total loans. Asset quality metrics remain within the Company’s moderate risk profile with adequate reserve coverage. Total delinquencies increased $4.9 million to $89.6 million during the quarter, and nonperforming loans increased $12.7 million to $108.0 million during the quarter; however, the increases were concentrated in a limited number of isolated credits and do not reflect broad-based deterioration in the loan portfolio. We do not currently expect these credits to result in material charge-offs, and nonperforming loans remain at 1.34% of total loans, below 1.60% a year ago.
  • Total non-interest income increased $873.0 thousand to $14.7 million in the third quarter of 2026, compared to $13.8 million in the second quarter of 2026. The second quarter included transactions related to LNKB resulting in a loss of $1.9 million offset by company-owned life insurance income. Despite the absence of these items, non-interest income increased due to an additional month of combined debit card income and higher fiduciary and wealth management income.
  • Non-interest expense for the third quarter of 2026 was $74.5 million compared to $93.5 million in the second quarter of 2026; adjusted non-interest expense for the third quarter of 2026 was $65.3 million compared to $61.1 million in the second quarter of 2026, the increase primarily due to the full quarter impact of LNKB.

Regulatory capital ratios2

The Company continues to be well-capitalized with capital ratios that are above regulatory requirements. As of September 30, 2026, our Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 12.03%2 and 15.45%2, respectively, and significantly above the well-capitalized requirements of 6.5% and 10%, respectively. The leverage ratio was 10.43%2 compared to a 5% level to be considered well-capitalized.

Burke & Herbert Bank & Trust Company (the “Bank”), the Company’s wholly-owned bank subsidiary, also continues to be well-capitalized with capital ratios that are above regulatory requirements. As of September 30, 2026, the Bank’s Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 13.36%2 and 14.35%,2 respectively, and significantly above the well-capitalized requirements. In addition, the Bank’s leverage ratio of 11.20%2 is considered to be well-capitalized.

For more information about the Company’s financial condition, including additional disclosures pertinent to recent events in the banking industry, please see our financial statements and supplemental information attached to this release.

About Burke & Herbert

Burke & Herbert Financial Services Corp. is the financial holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 100 branches across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia, Burke & Herbert Bank & Trust Company offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at investor.burkeandherbertbank.com.

Cautionary Note Regarding Forward-Looking Statements

This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to (or based on) the beliefs, goals, intentions, and expectations of Burke & Herbert regarding our: merger with LINKBANCORP, Inc., effective as of May 1, 2026, and the expected cost savings, synergies, returns, and other anticipated benefits from the integration of LNKB; revenues, earnings, earnings per share, loan production, asset quality, and capital levels, among other matters; estimates of the future costs and benefits of the actions we may take; assessments of expected losses on loans; assessments of interest rate and other market risks; ability to achieve financial and other strategic goals; and other statements that are not historical facts. Forward–looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “will,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time.

Additionally, forward–looking statements speak only as of the date they are made; Burke & Herbert does not assume any duty, and does not undertake, to update such forward–looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Furthermore, because forward–looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in or implied by such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Burke & Herbert. Such statements are based upon the current beliefs and expectations of the management of Burke & Herbert and are subject to significant risks and uncertainties outside of its control. Caution should be exercised against placing undue reliance on forward-looking statements.

The factors that could cause actual results to differ materially include the following: the possibility that the anticipated benefits of the merger will not be realized when expected or at all, including as a result of the impact of, or problems arising from (if any), the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and LNKB do business; costs or difficulties associated with newly developed or acquired operations; diversion of management’s attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate LNKB’s operations and those of Burke & Herbert; that the integration of LNKB may be more difficult, time-consuming or costly than expected; revenues following the merger may be lower than expected; Burke & Herbert’s success in executing its business plans and strategies and managing the risks involved in the foregoing; and risks related to the potential impact of global macroeconomic conditions and changes in general economic, political, and market factors on the merger or our operations, generally (either nationally or locally in the areas in which we conduct, or will conduct, business), including inflation, changes in interest rates, market volatility and monetary fluctuations, and changes in federal government policies and practices, including the impact with respect to spending on industries concentrated in our market area, as well as the impact from tariffs on the markets we serve; increased competition; changes in consumer confidence and demand for financial services, including changes in consumer borrowing, repayment, investment, and deposit practices; changes in asset quality and credit risk; our ability to control costs and expenses; adverse developments in borrower industries or declines in real estate values; changes in and compliance with federal and state laws and regulations that pertain to our business and capital levels; our ability to raise capital as needed; the impact, extent and timing of technological changes; emerging external focus among regulators and other officials related to risks in connection with the development and use of artificial intelligence; the effects of any cybersecurity breaches or events; the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts and tensions, or public health events (such as pandemics), and of governmental and societal responses thereto; and the other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Burke & Herbert’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026, and June 30, 2026, and other reports Burke & Herbert files with the SEC.

Burke & Herbert Financial Services Corp.
Consolidated Statements of Income (unaudited)
(In thousands)

    Three Months Ended   Nine Months Ended
    September 30,   June 30,   September 30,
    2026   2025   2026   2026   2025
Interest income                    
Taxable loans, including fees   $ 134,060     $ 95,132     $ 116,770     $ 338,913   $ 288,966  
Tax-exempt loans, including fees     63       47       55       158     136  
Taxable securities     10,271       9,062       11,329       31,358     27,852  
Tax-exempt securities     8,316       4,863       7,605       22,003     12,069  
Other interest income     2,014       2,105       1,228       4,735     4,830  
Total interest income     154,724       111,209       136,987       397,167     333,853  
Interest expense                    
Deposits     41,275       30,286       35,018       103,013     92,568  
Short-term borrowings     4,717       4,379       5,897       15,204     12,009  
Subordinated debt     3,677       2,748       2,990       8,936     8,207  
Other interest expense     39       26       40       113     79  
Total interest expense     49,708       37,439       43,945       127,266     112,863  
Net interest income     105,016       73,770       93,042       269,901     220,990  
                     
Credit loss expense (recapture) – loans and available-for-sale securities     1,493       574       (833 )     873     2,191  
Credit loss expense (recapture) – off-balance sheet credit exposures     (790 )     (312 )     2,212       1,221     (804 )
Total provision for credit losses     703       262       1,379       2,094     1,387  
Net interest income after credit loss expense     104,313       73,508       91,663       267,807     219,603  
                     
Non-interest income                    
Fiduciary and wealth management     3,347       2,664       3,100       9,674     7,532  
Service charges and fees     2,570       2,070       2,286       6,711     6,195  
Net gain (loss) on securities     89       212       (1,868 )     20     251  
Income from company-owned life insurance     2,078       1,152       3,207       6,764     5,327  
Bank debit and other card revenue     3,625       3,192       3,421       9,881     9,100  
Other non-interest income     3,013       2,295       3,703       8,374     6,080  
Total non-interest income     14,722       11,585       13,849       41,424     34,485  
                     
Non-interest expense                    
Salaries and wages     32,816       20,848       41,378       95,607     63,109  
Pensions and other employee benefits     6,229       4,429       5,787       17,386     13,632  
Occupancy     4,941       3,479       6,654       15,622     11,045  
Equipment rentals, depreciation and maintenance     5,385       3,908       6,934       16,507     12,092  
Core deposit intangible amortization     6,352       3,683       5,530       15,566     11,869  
ATM, card and network expense     1,799       1,200       1,389       4,322     3,646  
FDIC and other regulatory assessments     1,198       976       1,576       3,914     2,978  
Other operating     15,757       9,569       24,258       50,440     28,690  
Total non-interest expense     74,477       48,092       93,506       219,364     147,061  
Income before income taxes     44,558       37,001       12,006       89,867     107,027  
                     
Income tax expense     8,171       7,037       2,524       16,649     19,965  
Net income     36,387       29,964       9,482       73,218     87,062  
Preferred stock dividends     225       225       225       675     675  
Net income applicable to common shares   $ 36,162     $ 29,739     $ 9,257     $ 72,543   $ 86,387  
                     
Earnings per common share                    
Basic   $ 1.79     $ 1.98     $ 0.50     $ 4.05   $ 5.76  
Diluted     1.78       1.97       0.50       4.03     5.74  
                     

Burke & Herbert Financial Services Corp.
Consolidated Balance Sheets
(In thousands)

    September 30, 2026   December 31, 2025
    (Unaudited)   (Audited)
Assets        
Cash and due from banks   $ 101,308     $ 53,497  
Interest-earning deposits with banks     43,088       235,630  
Cash and cash equivalents     144,396       289,127  
Securities available-for-sale, at fair value     1,943,142       1,615,954  
Restricted stock, at cost     58,999       42,187  
Loans held-for-sale, at fair value     2,202       365  
Loans     8,061,967       5,387,676  
Allowance for credit losses     (92,473 )     (67,823 )
Net loans     7,969,494       5,319,853  
Other real estate owned     2,873       2,689  
Premises and equipment, net     148,370       136,809  
Accrued interest receivable     48,725       35,442  
Intangible assets     74,402       41,747  
Goodwill     118,345       34,149  
Company-owned life insurance     270,917       213,200  
Other assets     252,528       189,104  
Total Assets   $ 11,034,393     $ 7,920,626  
         
Liabilities and Shareholders’ Equity        
Liabilities        
Non-interest-bearing deposits   $ 2,015,942     $ 1,336,380  
Interest-bearing deposits     6,939,693       5,067,561  
Total deposits     8,955,635       6,403,941  
Short-term borrowings     525,000       450,000  
Subordinated debentures, net     233,935       70,222  
Subordinated debentures owed to unconsolidated subsidiary trusts     17,458       17,268  
Accrued interest and other liabilities     148,621       124,546  
Total Liabilities     9,880,649       7,065,977  
         
Shareholders’ Equity        
Preferred stock and surplus     10,413       10,413  
Common stock     10,382       7,800  
Common stock, additional paid-in capital     736,232       405,922  
Retained earnings     558,786       517,058  
Accumulated other comprehensive income (loss)     (134,485 )     (58,960 )
Treasury stock     (27,584 )     (27,584 )
Total Shareholders’ Equity     1,153,744       854,649  
Total Liabilities and Shareholders’ Equity   $ 11,034,393     $ 7,920,626  


Burke & Herbert Financial Services Corp.
Details of Net Interest Margin (unaudited)
For the three months ended

Details of Net Interest Margin – Yield Percentages
                   
  September 30   June 30   March 31   December 31   September 30
  2026   2026   2026   2025   2025
Interest-earning assets:
Loans:                  
Taxable loans 6.69 %   6.54 %   6.64 %   6.79 %   6.76 %
Tax-exempt loans 6.29     6.15     7.12     7.03     6.78  
Total loans 6.69     6.54     6.64     6.79     6.76  
Interest-earning deposits and fed funds sold 3.55     3.28     4.25     3.83     4.33  
Securities:                  
Taxable securities 3.97     4.23     3.78     3.78     3.86  
Tax-exempt securities 4.66     4.65     4.48     4.27     4.17  
Total securities 4.27     4.41     4.05     3.96     3.97  
Total interest-earning assets 6.17 %   6.06 %   5.97 %   6.06 %   6.11 %
                   
Interest-bearing liabilities:
Deposits:                  
Interest-bearing demand 2.07 %   1.96 %   1.98 %   2.07 %   2.18 %
Money market & savings 1.99     1.95     1.83     1.94     2.02  
Brokered CDs & time deposits 3.34     3.27     3.11     3.23     3.25  
Total interest-bearing deposits 2.36     2.25     2.16     2.28     2.37  
Borrowings:                  
Short-term borrowings 3.55     3.64     3.78     3.93     3.85  
Subordinated debt borrowings and other 9.49     9.16     10.46     10.62     9.49  
Total interest-bearing liabilities 2.59 %   2.51 %   2.44 %   2.54 %   2.63 %
                   
Taxable-equivalent net interest spread 3.58     3.55     3.53     3.52     3.48  
Benefit from use of non-interest-bearing deposits 0.63     0.60     0.56     0.59     0.60  
Taxable-equivalent net interest margin (non-GAAP1) 4.21 %   4.15 %   4.09 %   4.11 %   4.08 %


Burke & Herbert Financial Services Corp.
Details of Net Interest Margin (unaudited)
For the three months ended
(In thousands)

Details of Net Interest Margin – Average Balances
                   
  September 30   June 30   March 31   December 31   September 30
  2026   2026   2026   2025   2025
                   
Interest-earning assets:
Loans:                  
Taxable loans $ 7,951,809   $ 7,156,639   $ 5,380,967   $ 5,482,574   $ 5,584,315
Tax-exempt loans   5,047     4,497     2,903     3,159     3,511
Total loans   7,956,856     7,161,136     5,383,870     5,485,733     5,587,826
Interest-earning deposits and fed funds sold   118,138     69,525     70,361     222,990     100,445
Securities:                  
Taxable securities   1,123,098     1,137,512     1,128,486     1,031,603     1,034,136
Tax-exempt securities   896,752     830,459     696,580     623,417     586,129
Total securities   2,019,850     1,967,971     1,825,066     1,655,020     1,620,265
Total interest-earning assets $ 10,094,844   $ 9,198,632   $ 7,279,297   $ 7,363,743   $ 7,308,536
                   
Interest-bearing liabilities:
Deposits:                  
Interest-bearing demand $ 3,002,772   $ 2,706,931   $ 2,286,206   $ 2,315,064   $ 2,278,587
Money market & savings   2,223,150     2,106,402     1,675,034     1,705,028     1,660,401
Brokered CDs & time deposits   1,715,509     1,421,123     1,044,605     1,100,215     1,135,546
Total interest-bearing deposits   6,941,431     6,234,456     5,005,845     5,120,307     5,074,534
Borrowings:                  
Short-term borrowings   531,335     653,886     496,501     453,436     453,486
Subordinated debt borrowings and other   153,724     130,913     87,979     86,635     114,900
Total interest-bearing liabilities $ 7,626,490   $ 7,019,255   $ 5,590,325   $ 5,660,378   $ 5,642,920
                   
Non-interest-bearing deposits $ 2,029,261   $ 1,802,833   $ 1,332,090   $ 1,358,798   $ 1,338,188

  

Burke & Herbert Financial Services Corp.
Supplemental Information (unaudited)
As of or for the three months ended
(In thousands, except ratios and per share amounts)

  September 30   June 30   March 31   December 31   September 30
  2026   2026   2026   2025   2025
                   
Per common share information
Basic earnings $ 1.79     $ 0.50     $ 1.80     $ 2.00     $ 1.98  
Diluted earnings   1.78       0.50       1.79       1.98       1.97  
Cash dividends   0.55       0.55       0.55       0.55       0.55  
Book value per common share   56.62       59.10       56.77       56.18       54.02  
Tangible book value per common share (non-GAAP1)   47.07       49.23       51.83       51.13       48.72  
                   
Balance sheet-related (at period end, unless otherwise indicated)
Assets $ 11,034,393     $ 10,991,300     $ 7,927,711     $ 7,920,626     $ 7,889,037  
Average interest-earning assets   10,094,844       9,198,632       7,279,297       7,363,743       7,308,536  
Loans (gross)   8,061,967       7,999,765       5,404,667       5,387,676       5,559,479  
Loans (net)   7,969,494       7,905,295       5,336,712       5,319,853       5,491,875  
Securities, available-for-sale, at fair value   1,943,142       1,963,038       1,826,037       1,615,954       1,598,407  
Intangible assets   74,402       80,754       38,063       41,747       45,431  
Goodwill   118,345       118,345       36,253       34,149       34,149  
Non-interest-bearing deposits   2,015,942       2,058,076       1,367,050       1,336,380       1,358,250  
Interest-bearing deposits   6,939,693       6,910,006       4,965,215       5,067,561       5,053,802  
Deposits, total   8,955,635       8,968,082       6,332,265       6,403,941       6,412,052  
Brokered deposits   120,717       120,667       3,431       64,410       124,386  
Uninsured deposits   3,265,486       3,157,531       2,060,145       2,057,873       2,022,739  
Short-term borrowings   525,000       525,000       525,000       450,000       450,000  
Subordinated debt, net   233,935       152,183       88,841       87,490       86,110  
Unused borrowing capacity3   6,366,769       6,087,369       4,181,408       3,989,887       3,914,854  
Total equity   1,153,744       1,202,179       864,504       854,649       822,231  
Total common equity   1,143,331       1,191,766       854,091       844,236       811,818  
Accumulated other comprehensive income (loss)   (134,485 )     (59,637 )     (69,002 )     (58,960 )     (68,454 )
                   
Asset Quality                  
Provision for credit losses $ 703     $ 1,379     $ 12     $ 136     $ 262  
Net loan charge-offs (recoveries)   2,865       1,159       81       (84 )     226  
Allowance for credit losses   92,473       94,470       67,955       67,823       67,604  
Total delinquencies4   89,550       84,640       93,088       37,080       34,722  
Nonperforming loans5   107,980       95,308       78,559       74,236       89,051  


Burke & Herbert Financial Services Corp.
Supplemental Information (unaudited)
As of or for the three months ended
(In thousands, except ratios and per share amounts)

  September 30   June 30   March 31   December 31   September 30
  2026   2026   2026   2025   2025
Income statement
Interest income $ 154,724     $ 136,987     $ 105,456     $ 111,140     $ 111,209  
Interest expense   49,708       43,945       33,613       36,218       37,439  
Non-interest income   14,722       13,849       12,853       11,625       11,585  
Total revenue (non-GAAP1)   119,738       106,891       84,696       86,547       85,355  
Non-interest expense   74,477       93,506       51,381       48,500       48,092  
Pretax, pre-provision earnings (non-GAAP1)   45,261       13,385       33,315       38,047       37,263  
Provision for credit losses   703       1,379       12       136       262  
Income before income taxes   44,558       12,006       33,303       37,911       37,001  
Income tax expense   8,171       2,524       5,954       7,667       7,037  
Net income   36,387       9,482       27,349       30,244       29,964  
Preferred stock dividends   225       225       225       225       225  
Net income applicable to common shares $ 36,162     $ 9,257     $ 27,124     $ 30,019     $ 29,739  
                   
Ratios
Annualized return on average assets   1.30 %     0.37 %     1.39 %     1.49 %     1.50 %
Annualized return on average common equity   12.02       3.52       12.77       14.31       15.08  
Net interest margin (non-GAAP1)   4.21       4.15       4.09       4.11       4.08  
Efficiency ratio   62.20       87.48       60.67       56.03       56.34  
Loan-to-deposit ratio   90.02       89.20       85.35       84.13       86.70  
Consolidated Common Equity Tier 1 (CET1) capital ratio2   12.03       11.76       13.78       13.45       12.79  
Consolidated Total risk-based capital ratio2   15.45       14.42       16.52       16.17       15.44  
Consolidated Leverage ratio2   10.43       11.07       11.26       10.92       10.71  
Allowance coverage ratio   1.15       1.18       1.26       1.26       1.22  
Allowance for credit losses as a percentage of non-performing loans   85.64       99.12       86.50       91.36       75.92  
Non-performing loans as a percentage of total loans   1.34       1.19       1.45       1.38       1.60  
Non-performing assets as a percentage of total assets   1.00       0.89       1.03       0.97       1.16  
Net charge-offs (recoveries) to average loans (annualized) 14.3 bps   6.5 bps   0.6 bps   (0.6) bps   1.6 bps
                   


Burke & Herbert Financial Services Corp.
Non-GAAP Reconciliations (unaudited)
(In thousands, except ratios and per share amounts)

Operating net income, adjusted diluted EPS, and adjusted non-interest expense (non-GAAP1)
    For the three months ended
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Net income applicable to common shares   $ 36,162   $ 9,257   $ 27,124   $ 30,019   $ 29,739
Add back significant items (tax effected):                    
Merger-related     7,220     28,221     1,114     —     —
Total significant items     7,220     28,221     1,114     —     —
Operating net income   $ 43,382   $ 37,478   $ 28,238   $ 30,019   $ 29,739
                     
Weighted average dilutive shares     20,294,758     18,499,030     15,131,481     15,139,792     15,112,413
Adjusted diluted EPS   $ 2.14   $ 2.03   $ 1.87   $ 1.98   $ 1.97
                     
Non-interest expense   $ 74,477   $ 93,506   $ 51,381   $ 48,500   $ 48,092
Remove significant items:                    
Merger-related     9,139     32,387     1,410     —     —
Total significant items     9,139     32,387     1,410     —     —
Adjusted non-interest expense   $ 65,338   $ 61,119   $ 49,971   $ 48,500   $ 48,092

Operating net income is a non-GAAP measure that is derived from net income adjusted for significant items. The Company believes that operating net income is useful in periods with certain significant items such as merger-related expenses. The operating net income is more reflective of management’s ability to grow the business and manage expenses. Adjusted non-interest expense also removes these significant items, such as merger-related expenses. Management believes it represents a more normalized non-interest expense total for periods with identified significant items.

Total Revenue (non-GAAP1)
    For the three months ended
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Interest income   $ 154,724   $ 136,987   $ 105,456   $ 111,140   $ 111,209
Interest expense     49,708     43,945     33,613     36,218     37,439
Non-interest income     14,722     13,849     12,853     11,625     11,585
Total revenue (non-GAAP1)   $ 119,738   $ 106,891   $ 84,696   $ 86,547   $ 85,355

Total revenue is a non-GAAP measure and is derived from total interest income less total interest expense plus total non-interest income. We believe that total revenue is a useful tool to determine how the Company is managing its business and demonstrates how stable our revenue sources are from period to period.


Burke & Herbert Financial Services Corp.
Non-GAAP Reconciliations (unaudited)
(In thousands, except ratios and per share amounts)

Pretax, Pre-Provision Earnings (non-GAAP1)
    For the three months ended
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Income before income taxes   $ 44,558   $ 12,006   $ 33,303   $ 37,911   $ 37,001
Provision for credit losses     703     1,379     12     136     262
Pretax, pre-provision earnings (non-GAAP1)   $ 45,261   $ 13,385   $ 33,315   $ 38,047   $ 37,263

Pretax, pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and to exclude provision for credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for credit losses, which can vary significantly between periods.

Tangible Common Equity (non-GAAP1)
    As of
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Common shareholders’ equity   $ 1,143,331   $ 1,191,766   $ 854,091   $ 844,236   $ 811,818
Less:                    
Intangible assets     74,402     80,754     38,063     41,747     45,431
Goodwill     118,345     118,345     36,253     34,149     34,149
Tangible common equity (non-GAAP1)   $ 950,584   $ 992,667   $ 779,775   $ 768,340   $ 732,238
Shares outstanding at end of period     20,193,639     20,165,171     15,045,941     15,028,524     15,028,524
Tangible book value per common share (non-GAAP1)   $ 47.07   $ 49.23   $ 51.83   $ 51.13   $ 48.72

In management’s view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company’s use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution’s capital strength because they eliminate intangible assets from shareholders’ equity and retain the effect of accumulated other comprehensive income/(loss) in shareholders’ equity.

Tangible Common Assets (non-GAAP1)    
    As of
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Total assets   $ 11,034,393     $ 10,991,300     $ 7,927,711     $ 7,920,626     $ 7,889,037  
Less:                    
Intangible assets     74,402       80,754       38,063       41,747       45,431  
Goodwill     118,345       118,345       36,253       34,149       34,149  
Tangible assets (non-GAAP1)   $ 10,841,646     $ 10,792,201     $ 7,853,395     $ 7,844,730     $ 7,809,457  
                     
Tangible common equity / tangible assets (non-GAAP1)     8.77 %     9.20 %     9.93 %     9.79 %     9.38 %


Burke & Herbert Financial Services Corp.
Non-GAAP Reconciliations (unaudited)
(In thousands, except ratios and per share amounts)

In management’s view, tangible common assets measures complement tangible common equity measures and may be meaningful to the Company, as well as analysts and investors, in assessing balance sheet composition and leverage and in facilitating comparisons with peers. These non‑GAAP measures enhance transparency by eliminating intangible assets from total assets, thereby providing additional insight into the relationship between the Company’s tangible asset base and its tangible common equity.

Return and Adjusted Return on Average Tangible Common Equity and Average Assets (non-GAAP1)
    For the three months ended
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Average common shareholders’ equity   $ 1,193,226     $ 1,053,502     $ 861,274     $ 832,411     $ 782,577  
Average goodwill and other intangibles     (196,787 )     (159,202 )     (76,923 )     (79,338 )     (83,079 )
Average deferred tax liabilities on goodwill and other intangibles     18,204       19,635       8,602       9,382       9,787  
Average tangible common equity (non-GAAP1)   $ 1,014,643     $ 913,935     $ 792,953     $ 762,455     $ 709,285  
                     
Average total assets   $ 10,994,775     $ 10,010,483     $ 7,913,098     $ 7,979,528     $ 7,890,929  
Average goodwill and other intangibles     (196,787 )     (159,202 )     (76,923 )     (79,338 )     (83,079 )
Average deferred tax liabilities on goodwill and other intangibles     18,204       19,635       8,602       9,382       9,787  
Average tangible total assets (non-GAAP1)   $ 10,816,192     $ 9,870,916     $ 7,844,777     $ 7,909,572     $ 7,817,637  
                     
Net income applicable to common shareholders   $ 36,162     $ 9,257     $ 27,124     $ 30,019     $ 29,739  
                     
Operating net income applicable to common shareholders (non-GAAP1)   $ 43,382     $ 37,478     $ 28,238     $ 30,019     $ 29,739  
                     
Annualized return on average common equity     12.02 %     3.52 %     12.77 %     14.31 %     15.08 %
Annualized adjusted return on average common equity (non-GAAP1)     14.42       14.27       13.30       14.31       15.08  
Annualized return on average tangible common equity (non-GAAP1)     14.14       4.06       13.87       15.62       16.63  
Annualized adjusted return on average tangible common equity (non-GAAP1)     16.96       16.45       14.44       15.62       16.63  
Annualized return on average assets     1.30       0.37       1.39       1.49       1.50  
Annualized adjusted return on average assets (non-GAAP1)     1.57       1.50       1.45       1.49       1.50  

In management’s view, adjusted return on average common equity, return on average tangible common equity, adjusted return on average tangible common equity, and adjusted return on average assets are performance metrics that may be meaningful to the Company, as well as analysts and investors, in evaluating the Company’s profitability and efficiency in deploying capital and assets and in facilitating comparisons with peers. These non‑GAAP measures provide additional insight into the Company’s underlying operating performance by focusing on returns generated from common equity, tangible common equity, and total assets, as applicable.

The adjusted measures exclude the after‑tax effect of one‑time merger‑related expenses, which management believes enhances period‑to‑period comparability and provides a more representative view of the Company’s ongoing earnings performance. Return on average tangible common equity measures further isolate performance attributable to tangible capital by excluding the impact of intangible assets, while return on average assets reflects the Company’s effectiveness in generating earnings from its overall asset base. Management believes these measures, when considered together and alongside GAAP results, provide useful supplemental information for assessing profitability, capital efficiency, and operating trends.

Net Interest Margin & Taxable-Equivalent Net Interest Income (non-GAAP1)
    For the three months ended
    September 30   June 30   March 31   December 31   September 30
    2026   2026   2026   2025   2025
Net interest income   $ 105,016     $ 93,042     $ 71,843     $ 74,922     $ 73,770  
Taxable-equivalent adjustments     2,227       2,036       1,628       1,420       1,305  
Net interest income (Fully Taxable-Equivalent – FTE)   $ 107,243     $ 95,078     $ 73,471     $ 76,342     $ 75,075  
                     
Average interest-earning assets   $ 10,094,844     $ 9,198,632     $ 7,279,297     $ 7,363,743     $ 7,308,536  
Net interest margin (non-GAAP1)     4.21 %     4.15 %     4.09 %     4.11 %     4.08 %

The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use net interest income on a fully taxable-equivalent (FTE) basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. FTE net interest income is calculated by adding the tax benefit on certain financial interest earning assets, whose interest is tax-exempt, to total interest income then subtracting total interest expense. Management believes FTE net interest income is a standard practice in the banking industry, and when net interest income is adjusted on an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income and this adjustment is not permitted under GAAP. FTE net interest income is only used for calculating FTE net interest margin, which is calculated by annualizing FTE net interest income and then dividing by the average earning assets. The tax rate used for this adjustment is 21%. Net interest income shown elsewhere in this presentation is GAAP net interest income.

______

1 Non-GAAP financial measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors’ ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation tables in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measurements.
2 Ratios as of September 30, 2026, are estimated.
3 Includes Federal Home Loan Bank, Borrower-in-Custody (BIC), correspondent bank availability, and brokered deposit capacity.

4 Total delinquencies represent only accruing loans 30 days or more past due.
5 Includes non-accrual loans and loans 90 days past due and still accruing.

EL SEGUNDO, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) — Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™ (the “Company”), today announced it will report financial results for its third quarter ended September 26, 2026 on Wednesday, November 4, 2026 after market close.

The Company will host a conference call to discuss these results at 5:00 p.m. Eastern, 2:00 p.m. Pacific. Investors interested in participating in the live call can dial 412-902-4255.

There will be a simultaneous, live webcast available on the Investor Relations section of the Company’s website at www.beyondmeat.com. The webcast will also be archived.

About Beyond Meat

Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™, is a plant protein company offering a portfolio of plant-based products made with non-GMO ingredients, no added hormones or antibiotics, and 0mg of cholesterol per serving. Founded in 2009, Beyond Meat’s core products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. The company’s brand promise, Eat What You Love®, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based protein to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. Visit www.BeyondMeat.com and follow @BeyondMeat on Facebook, Instagram, Threads and LinkedIn.

Contacts

Media:

Melanie Daifotis

Melanie.daifotis@beyondmeat.com

Investors:

Raphael Gross

beyondmeat@icrinc.com

Annualized eGFR slope of -0.6 vs. -5.7 mL/min/1.73 m²/year for placebo, a 5.1 mL/min/1.73 m²/year treatment difference (p<0.001)

89% and 81% reductions in risk of confirmed ≥30% and ≥40% eGFR declines, respectively

Proteinuria reductions sustained through 104 weeks following transition to every-other-week dosing; favorable safety profile

BOSTON, Oct. 22, 2026 (GLOBE NEWSWIRE) — Vor Bio (Nasdaq: VOR), a clinical-stage biotechnology company transforming the treatment of autoimmune diseases, today announced final two-year results from the Phase 3 TELIGAN trial evaluating telitacicept in adults with IgA nephropathy (IgAN), conducted in China by its collaborator, RemeGen Co., Ltd (HKEX: 9995, SHA: 688331). TELIGAN met the Stage B primary endpoint, demonstrating a statistically significant difference in annualized estimated glomerular filtration rate (eGFR) slope through 104 weeks compared with placebo. The data were presented today in an oral presentation (TH-OR111) during the Featured High-Impact Clinical Trials plenary session at the American Society of Nephrology (ASN) Kidney Week 2026 in Denver, Colorado.

The 104-week findings build on the previously reported 39-week results, published in The New England Journal of Medicine in May 2026, and extend the evidence from proteinuria reduction to longer-term preservation of kidney function and reduced incidence of clinically relevant kidney disease progression events.

“At 104 weeks, TELIGAN demonstrated a substantial reduction in proteinuria and important evidence of durable kidney protection,” said Jean-Paul Kress, M.D., Chairman and Chief Executive Officer of Vor Bio. “An annualized eGFR slope approaching zero, lower rates of kidney function deterioration, and sustained proteinuria reductions following the transition to every-other-week dosing together reinforce the clinical potential of telitacicept. These findings add to the growing body of evidence supporting dual BAFF/APRIL inhibition as we continue to advance our global Phase 3 programs in myasthenia gravis and Sjögren’s disease.”

TELIGAN is a multicenter, randomized, double-blind, placebo-controlled Phase 3 trial that enrolled 318 adults with biopsy-confirmed IgAN receiving stable background supportive therapy. Patients were randomized 1:1 to telitacicept 240 mg or placebo. Treatment was administered subcutaneously once weekly through Week 39 (Stage A), followed by every-other-week dosing from Week 40 through Week 104 (Stage B). The Stage A primary endpoint assessed change in 24-hour urine protein-to-creatinine ratio (24h-UPCR) at Week 39; the Stage B primary endpoint assessed annualized eGFR slope through Week 104.

Key Findings from the Final 104-Week Analysis:

  • Kidney function preservation: Annualized eGFR slope through 104 weeks was -0.6 mL/min/1.73 m²/year (95% CI: -1.7 to 0.4) for telitacicept versus -5.7 mL/min/1.73 m²/year (95% CI: -7.0 to -4.5) for placebo, representing a between-group difference of 5.1 mL/min/1.73 m²/year (95% CI: 3.5 to 6.7; p<0.001).
  • Reduced kidney disease progression: Telitacicept was associated with an 89% lower risk of confirmed ≥30% eGFR decline (HR 0.11) and an 81% lower risk of confirmed ≥40% eGFR decline (HR 0.19) relative to placebo. No patient in the telitacicept group experienced a prespecified composite kidney failure endpoint event, compared with five in the placebo group, including two who required dialysis.
  • Durable proteinuria reduction: At Week 104, 24h-UPCR decreased 60.3% from baseline in the telitacicept group compared with a 0.9% increase in the placebo group, representing a reported placebo-adjusted reduction of 60.7%. At Week 104, 44.0% of telitacicept-treated patients achieved 24h-UPCR <0.5 g/g versus 8.2% in the placebo group. Reductions in proteinuria were maintained after the transition to every-other-week dosing.
  • Reduction in pathogenic IgA1: At Week 104, serum galactose-deficient IgA1 (Gd-IgA1) decreased 47.79% from baseline with telitacicept, compared with a 19.06% increase with placebo, consistent with the drug’s dual BAFF/APRIL mechanism.
  • Safety: Treatment-emergent adverse events occurred in 95.0% of telitacicept-treated patients and 89.3% of placebo-treated patients. Serious adverse events occurred in 8.2% versus 18.2%, respectively. Overall infections were reported in 67.3% of each group, and serious infections in 1.9% versus 4.4%. Injection-site reactions were more frequent with telitacicept (56.0% versus 18.9%), with most mild to moderate in severity.

In June 2026, telitacicept received conditional approval in China for the reduction of proteinuria in adults with primary IgAN at risk of disease progression. RemeGen is responsible for the development and commercialization of telitacicept in China, while Vor Bio holds exclusive rights to develop and commercialize telitacicept outside Greater China.

About IgA Nephropathy
IgA nephropathy (IgAN) is one of the most common primary glomerular diseases worldwide and a leading cause of chronic kidney disease. It is characterized by deposition of IgA-containing immune complexes in the kidneys, resulting in inflammation, proteinuria, hematuria, and progressive loss of kidney function. Overproduction of Gd-IgA1 is a central driver of IgAN, and despite available therapies, patients remain at risk of progression to kidney failure.

About Telitacicept
Telitacicept is a novel recombinant fusion protein designed to treat autoimmune diseases through dual inhibition of BLyS (BAFF) and APRIL – two cytokines essential to B cell and plasma cell survival. This dual-target mechanism reduces autoreactive B cells and autoantibody production, key drivers of autoimmune pathology.

Telitacicept is approved in China for systemic lupus erythematosus (SLE), rheumatoid arthritis (RA), generalized myasthenia gravis (gMG), IgA nephropathy (IgAN), and Sjögren’s disease (SjD).

Vor Bio is advancing telitacicept in global Phase 3 trials in gMG and SjD to support potential regulatory approvals in the United States, Europe, and Japan.

About Vor Bio
Vor Bio is a clinical-stage biotechnology company transforming the treatment of autoimmune diseases. The Company is focused on rapidly advancing telitacicept, a novel dual-target fusion protein, through Phase 3 clinical development and potential commercialization to address serious autoantibody-driven conditions worldwide. For more information visit www.vorbio.com. Vor Bio routinely posts information that may be important to investors in the “Investors” section of its website. The Company encourages investors to consult that section of its website regularly.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “design,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “should,” “update,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the therapeutic and clinical potential of telitacicept, including its potential benefits in IgAN and other autoimmune diseases, its potential to preserve kidney function and slow disease progression, and the durability of its effects; the potential of dual BAFF/APRIL inhibition; the conditional approval of telitacicept in China and any conversion to full approval; Vor Bio’s development and commercialization plans, including potential regulatory approvals in the United States, Europe, and Japan; and other statements that are not historical fact.

Vor Bio may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including that results from the TELIGAN trial, which RemeGen conducted solely in China, may not be predictive of results in other populations or in our ongoing or future clinical trials, and that the FDA and other regulators outside China may not accept data generated in China; that results of earlier clinical trials or analyses may not be predictive of future results, and that data presented at medical meetings may change following additional analysis or peer review; the risk of unexpected adverse events or safety findings; that conditional approvals in China may be withdrawn or not converted to full approval; our reliance on RemeGen, including for clinical data and the supply of telitacicept, and our ability to maintain our license with RemeGen; competition from other therapies, including other BAFF and/or APRIL inhibitors; that the data for our product candidates may not be sufficient for obtaining regulatory approval to commercialize products; we may not be able to execute our business plans, including meeting our planned clinical and regulatory milestones and timelines; and possible limitations of financial and other resources. The clinical trial results described in this press release are based on information reported by RemeGen; Vor Bio has not independently verified these data. These and other risks are described in greater detail under the caption “Risk Factors” included in Vor Bio’s most recent annual or quarterly report and in other reports it has filed or may file with the Securities and Exchange Commission.

Any forward-looking statements contained in this press release speak only as of the date hereof, and Vor Bio expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by law.

CONTACT: Media & Investor Contacts:
Carl Mauch
cmauch@vorbio.com

DALLAS, Oct. 22, 2026 (GLOBE NEWSWIRE) — BGSF, Inc. (NYSE: BGSF), a growing provider of workforce solutions for the specialized property management industry, today announces that it will release its fiscal 2026 third quarter results on Wednesday, November 4, 2026, after the market close. In conjunction with the release, management will host an earnings conference call, a live teleconference, and a webcast at 9:00 am ET on Thursday, November 5, 2026.

Interested participants may dial 1-800-715-9871 (Toll-Free) or 1-646-307-1963 (International) and ask to join the BGSF earnings call. A call replay will be available until Thursday, November 12, 2026. To access the replay, please dial 1-855-669-9658 (Toll-Free) or 1-412-317-0088 (International) and enter the access code 2453258. The live webcast is accessible in the investor relations section of the Company’s website at https://investor.bgsf.com/events-and-presentations/default.aspx.         

About BGSF 

BGSF provides best-in-class property management resources and solutions to growing apartment and luxury communities, as well as commercial properties, and was awarded Supplier Company of the Year by the National Apartment Association in recent years. Through its exclusive and semi-exclusive agreements with some of the largest property management companies in North America, BGSF offers differentiated advantages to clients, including trained talent and unique technological platforms that maximize efficiencies in the growing residential and commercial leased property industries. For more information on the Company and its services, please visit its website at www.bgsf.com.

CONTACT:
Latoya Johnson
ir@bgsf.com
972.692.2400

Source: BGSF, Inc.

ROSEMONT, Ill., Oct. 22, 2026 (GLOBE NEWSWIRE) — The Board of Directors of Wintrust Financial Corporation (“Wintrust” or the “Company”) (Nasdaq: WTFC) has approved a quarterly cash dividend of $0.55 per share of outstanding common stock. The dividend is payable on November 19, 2026, to shareholders of record as of November 5, 2026.

Additionally, the Company’s Board of Directors approved a cash dividend on outstanding shares of the Company’s 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F. The dividend is payable on January 15, 2027, to shareholders of record as of January 1, 2027.

About Wintrust

Wintrust is a financial holding company with $76.0 billion in assets whose common stock is traded on the Nasdaq Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Wintrust’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in Wintrust’s Annual Report on Form 10-K for the most recently ended fiscal year and in Wintrust’s subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.

FOR MORE INFORMATION CONTACT:
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Amy Yuhn, Executive Vice President, Communications
(847) 939-9591
Website address: www.wintrust.com

VERO BEACH, Fla., Oct. 22, 2026 (GLOBE NEWSWIRE) — Orchid Island Capital, Inc. (NYSE: ORC) (“Orchid” or the “Company”), a real estate investment trust (“REIT”), today announced results of operations for the three month period ended September 30, 2026.

Third Quarter 2026 Results

  • Net loss of $178.9 million, or $0.90 per common share, which consists of:
  • Net interest income of $59.1 million, or $0.30 per common share
  • Total expenses of $6.3 million, or $0.03 per common share
  • Net realized and unrealized losses of $231.7 million, or $1.17 per common share, on RMBS and derivative instruments, including net interest income on interest rate swaps
  • Third quarter dividends declared and paid of $0.30 per common share
  • Book value per common share of $6.02 at September 30, 2026
  • Total return of (12.47)%, comprised of $0.30 dividend per common share and $1.20 decrease in book value per common share, divided by beginning book value per common share

Other Financial Highlights

  • In the midst of very turbulent market conditions, Orchid maintained a strong liquidity position of $515.7 million in cash and cash equivalents and unpledged securities, or approximately 44% of stockholders’ equity as of September 30, 2026
  • Borrowing capacity in excess of September 30, 2026 outstanding repurchase agreement balances of $10.4 billion, spread across 33 active lenders
  • Repurchased approximately 4.95 million shares during the third quarter and approximately 1.67 million shares to date in October
  • Increased hedge coverage and extended hedge duration as market conditions deteriorated during the quarter and leverage increased
  • Company to discuss results on Friday, October 23, 2026, at 10:00 AM ET
  • Supplemental materials to be discussed on the call can be downloaded from the investor relations section of the Company’s website at https://ir.orchidislandcapital.com

Management Commentary

Commenting on the third quarter results, Robert E. Cauley, Chairman and Chief Executive Officer, said, “The third quarter of 2026 presented very challenging market conditions as we witnessed a significant increase in interest rates across the globe.  Benchmark U.S. treasury yields reached levels last seen in the early 2000s. The Agency RMBS market was particularly impacted and there was widespread deleveraging and forced selling, with implied interest rate volatility spiking higher as well. Going into the sell-off Orchid had hedge coverage at over 90% of our funding levels and a high coupon bias which proved beneficial as higher coupons generated better absolute returns – or less negative – during the period. To counteract the leverage ratio expansion as our book value declined, we opted to focus on our hedges by both increasing both the notional balances – to near 100% coverage – and duration of our hedges versus solely relying on asset sales. Secondly, we used a combination of modest asset sales – less than $400 million – and retaining our monthly pay-downs to limit the leverage expansion.  We took advantage of the depressed stock price to repurchase approximately 6.6 million shares to date since the end of the second quarter and did so strategically when the stock price was trading at a significant discount to our book value.  Throughout the quarter we were able to maintain ample liquidity.

“Our objective was to maximize our book value recovery potential if spreads recovered and/or rates decreased and to sustain the dividend. To the extent our funding levels increase as a result of Fed interest rate hikes, our higher coupon, low premium specified pools should provide enhanced income potential in a slow prepay environment – even more so with the majority of the portfolio now priced below par, allowing for discount accretion. Further buttressing our earnings potential is our nearly 100% hedge coverage. While the cost of our funding hedges has increased modestly with the expansion of the notional balance and duration of the hedge book, the asset yields will be higher across the entire portfolio, offset to some extent by the slight 6.7% reduction in the portfolio size we experienced. To the extent the market has fully stabilized now, we are quite comfortable with our positioning.”

Details of Third Quarter 2026 Results of Operations

The Company reported a net loss of $178.9 million for the three month period ended September 30, 2026, compared with net income of $72.1 million for the three month period ended September 30, 2025. Interest income on the portfolio in the third quarter was down approximately $0.1 million from the second quarter of 2026. The yield on our average Agency RMBS increased slightly from 5.74% in the second quarter of 2026 to 5.91% for the third quarter of 2026, and our repurchase agreement borrowing costs increased from 3.80% for the second quarter of 2026 to 3.92% for the third quarter of 2026. Book value decreased by $1.20 per share in the third quarter of 2026. The decrease in book value reflects our net loss of $0.90 per share and the dividend distribution of $0.30 per share. The Company recorded net realized and unrealized losses of $231.7 million on Agency RMBS assets and derivative instruments, including net interest income on interest rate swaps.

Prepayments

For the quarter ended September 30, 2026, Orchid received $306.0 million in scheduled and unscheduled principal repayments and prepayments, which equated to a 3-month constant prepayment rate (“CPR”) of approximately 8.4%. Prepayment rates on the two RMBS sub-portfolios were as follows (in CPR):

  Total
Three Months Ended Portfolio (%)
September 30, 2026 8.4
June 30, 2026 10.9
March 31, 2026 14.7
December 31, 2025 15.7
September 30, 2025 10.1
June 30, 2025 10.1
March 31, 2025 7.8
   

Portfolio

The following tables summarize certain characteristics of Orchid’s RMBS portfolio as of September 30, 2026 and December 31, 2025:

($ in thousands)                        
                    Weighted    
        Percentage           Average    
        of     Weighted     Maturity    
  Fair   Entire     Average     in   Longest
Asset Category Value   Portfolio     Coupon     Months   Maturity
September 30, 2026                        
Fixed Rate RMBS $ 10,655,685   99.9 %   5.53 %   334   1-Jun-56
Other   11,383   0.1 %   3.41 %   201   25-Jul-48
Total Mortgage Assets $ 10,667,068   100.0 %   5.51 %   333   1-Jun-56
December 31, 2025                        
Fixed Rate RMBS $ 10,615,570   99.9 %   5.67 %   341   1-Jan-56
Other   13,088   0.1 %   3.25 %   210   25-Jul-48
Total Mortgage Assets $ 10,628,658   100.0 %   5.64 %   340   1-Jan-56
                         

($ in thousands)                      
  September 30, 2026     December 31, 2025  
        Percentage of           Percentage of  
Agency Fair Value   Entire Portfolio     Fair Value   Entire Portfolio  
Fannie Mae $ 5,557,220   52.1 %   $ 5,675,461   53.4 %
Freddie Mac   5,109,848   47.9 %     4,953,197   46.6 %
Total Portfolio $ 10,667,068   100.0 %   $ 10,628,658   100.0 %
                       

As of September 30, 2026, the Company’s portfolio had an effective duration of 4.327, indicating that an interest rate increase of 1.0% would be expected to cause a 4.327% decrease in the value of the RMBS in the Company’s investment portfolio. This compares to an effective duration of 2.513 as of December 31, 2025, which indicated that an interest rate increase of 1.0% would be expected to cause a 2.513% decrease in the value of the RMBS in the Company’s investment portfolio. 

Financing, Leverage and Liquidity

As of September 30, 2026, the Company had outstanding repurchase obligations of approximately $10.4 billion with a net weighted average borrowing rate of 3.99%. These agreements were collateralized by RMBS with a fair value, including accrued interest, of approximately $10.7 billion and cash pledged to counterparties of approximately $130.0 million. The Company’s adjusted leverage ratio, defined as the balance of repurchase agreement liabilities divided by stockholders’ equity, at September 30, 2026 was 8.8 to 1. The Company’s economic leverage ratio, defined as the total liabilities, adjusted for net TBA positions, divided by stockholders’ equity, at September 30, 2026 was 8.6 to 1. At September 30, 2026, the Company’s liquidity was approximately $515.7 million consisting of cash and cash equivalents and unpledged securities. Below is a list of our outstanding borrowings under repurchase obligations at September 30, 2026.

($ in thousands)                    
              Weighted     Weighted
  Total         Average     Average
  Outstanding   % of     Borrowing     Maturity
Counterparty Balances   Total     Rate     in Days
Citigroup Global Markets Inc $ 466,497   4.49 %   4.00 %   20
Hidden Road Partners Civ US LLC   455,496   4.40 %   4.03 %   47
ABN AMRO Bank N.V.   447,423   4.32 %   3.98 %   19
StoneX Financial Inc.   438,071   4.23 %   4.00 %   23
Marex Capital Markets Inc.   436,606   4.21 %   4.00 %   29
ASL Capital Markets Inc.   433,149   4.18 %   3.99 %   20
South Street Securities, LLC   428,723   4.14 %   4.10 %   181
The Bank of Nova Scotia   423,924   4.09 %   3.99 %   16
J.P. Morgan Securities LLC   423,315   4.09 %   4.01 %   19
Banco Santander SA   402,148   3.88 %   3.85 %   13
Cantor Fitzgerald & Co   400,692   3.87 %   3.99 %   16
DV Securities, LLC Repo   396,961   3.83 %   3.92 %   10
Clear Street LLC   383,783   3.70 %   3.99 %   19
Daiwa Securities America Inc.   381,829   3.68 %   4.00 %   21
Wells Fargo Securities, LLC   371,748   3.59 %   3.99 %   1
Goldman, Sachs & Co   370,088   3.57 %   4.00 %   1
Brean Capital, LLC   346,653   3.35 %   3.99 %   20
ING Financial Markets LLC   340,561   3.29 %   3.97 %   14
RBC Capital Markets, LLC   328,157   3.17 %   4.02 %   16
TD Securities (USA) LLC   313,342   3.02 %   3.97 %   15
Mirae Asset Securities (USA) Inc.   278,527   2.69 %   3.99 %   21
Morgan Stanley & Co. LLC   277,755   2.68 %   4.00 %   29
MUFG Securities Canada, Ltd.   246,298   2.38 %   3.99 %   16
Mitsubishi UFJ Securities (USA), Inc.   226,333   2.18 %   4.00 %   19
Mesirow Financial, Inc.   221,428   2.14 %   3.99 %   18
Merrill Lynch, Pierce, Fenner & Smith   201,307   1.94 %   4.01 %   28
Nomura Securities International, Inc.   200,018   1.93 %   3.97 %   14
Natixis, New York Branch   176,921   1.71 %   4.01 %   16
Mizuho Securities USA LLC   171,766   1.66 %   3.99 %   16
Bank of Montreal   170,860   1.65 %   4.02 %   26
BNP Paribas Securities Corp.   150,098   1.45 %   4.01 %   26
Lucid Prime Fund, LLC   29,110   0.28 %   3.99 %   15
Canyon Partners, LLC   22,130   0.21 %   3.93 %   14
Total / Weighted Average $ 10,361,717   100.00 %   3.99 %   26
                     

Hedging

In connection with its interest rate risk management strategy, the Company economically hedges a portion of the cost of its repurchase agreement funding against a rise in interest rates by entering into derivative financial instrument contracts. The Company has not elected hedging treatment under U.S. generally accepted accounting principles (“GAAP”) in order to align the accounting treatment of its derivative instruments with the treatment of its portfolio assets under the fair value option election. As such, all gains or losses on these instruments are reflected in earnings for all periods presented. At September 30, 2026, such instruments were comprised of U.S. Treasury note (“T-Note”) and Secured Overnight Financing Rate (“SOFR”) futures contracts, interest rate swap agreements and to-be-announced (“TBA”) securities contracts.

The table below presents information related to the Company’s T-Note and SOFR futures contracts at September 30, 2026.

($ in thousands)                      
  Average   Weighted     Weighted        
  Contract   Average     Average        
  Notional   Entry     Effective     Open
Expiration Year Amount   Rate     Rate     Equity(1)
Treasury Note Futures Contracts (Short Positions)                      
December 2026 10-year T-Note futures (Dec 2026 – Dec 2036 Hedge Period)(2) $ 858,600   4.90 %   5.24 %   $ 17,763
December 2026 10-year Ultra futures (Dec 2026 – Dec 2036 Hedge Period)(3)   560,000   4.95 %   5.33 %     16,963
December 2026 30-year Ultra futures (Dec 2026 – Dec 2056 Hedge Period)(4)   150,000   5.69 %   5.75 %     1,313
SOFR Futures Contracts (Short Positions)                      
December 2026 3-Month SOFR futures (Sep 2026 – Dec 2026 Hedge Period) $ 97,500   3.27 %   3.97 %   $ 681
March 2027 3-Month SOFR futures (Dec 2026 – Mar 2027 Hedge Period)   97,500   3.22 %   4.30 %     1,056
June 2027 3-Month SOFR futures (Mar 2027 – Jun 2027 Hedge Period)   97,500   3.21 %   4.61 %     1,368
ERIS SOFR Swap Futures Contracts (Short Positions)(5)                      
December 2026 5-Year Term, 3.75% fixed rate, (Dec 2026 – Dec 2031 Hedge Period) $ 10,000   4.52 %   4.86 %   $ 145

(1) Open equity represents the cumulative gains (losses) recorded on open futures positions from inception.
(2) 10-Year T-Note futures contracts were valued at a price of $104.20 at September 30, 2026. The aggregate contract values of the short positions were $894.7 million at September 30, 2026.
(3) 10-Year Ultra futures contracts were valued at a price of $105.00 at September 30, 2026. The aggregate contract values of the short positions were $588.0 million at September 30, 2026.
(4) 30-Year T-Note Ultra futures contracts were valued at a price $103.59 at September 30, 2026. The contract value of the short position was $155.4 million at September 30, 2026.
(5) ERIS swap futures are exchange traded futures that replicate the cash flows of an underlying swap position.
   

The table below presents information related to the Company’s interest rate swap positions at September 30, 2026.

($ in thousands)                    
        Average            
        Fixed     Average     Average
  Notional   Pay     Receive     Maturity
  Amount   Rate     Rate     (Years)
Expiration > 1 to ≤ 5 years $ 5,292,800   3.47 %   3.90 %   2.9
Expiration > 5 years   2,571,400   3.97 %   3.90 %   8.3
  $ 7,864,200   3.63 %   3.90 %   4.7
                     

The following table summarizes our contracts to sell TBA securities as of September 30, 2026.

($ in thousands)        
  Notional      
  Amount     Net
  Long Cost Market Carrying
  (Short)(1) Basis(2) Value(3) Value(4)
September 30, 2026        
15-Year TBA securities:        
5.5%   100,000     99,703     98,523     (1,180 )
30-Year TBA securities:        
5.0%   (345,000 )   (331,555 )   (319,152 )   12,403  
6.0%   (70,000 )   (69,716 )   (68,453 )   1,263  
  $ (315,000 ) $ (301,568 ) $ (289,082 ) $ 12,486  

(1) Notional amount represents the par value (or principal balance) of the underlying Agency RMBS.
(2) Cost basis represents the forward price to be paid (received) for the underlying Agency RMBS.
(3) Market value represents the current market value of the TBA securities (or of the underlying Agency RMBS) as of period-end.
(4) Net carrying value represents the difference between the market value and the cost basis of the TBA securities as of period-end and is reported in derivative assets (liabilities) at fair value in our balance sheets.
   

Dividends

In addition to other requirements that must be satisfied to qualify as a REIT, we must pay annual dividends to our stockholders of at least 90% of our REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gains. We intend to pay regular monthly dividends to our stockholders and have declared the following dividends since our February 2013 IPO.

(in thousands, except per share data)
Year Per Share Amount   Total
2013 $ 6.975   $ 4,662
2014   10.800     22,643
2015   9.600     38,748
2016   8.400     41,388
2017   8.400     70,717
2018   5.350     55,814
2019   4.800     54,421
2020   3.950     53,570
2021   3.900     97,601
2022   2.475     87,906
2023   1.800     81,127
2024   1.440     96,309
2025   1.440     190,930
2026 – YTD(1)   1.060     208,033
Totals $ 70.390   $ 1,103,869

(1) On October 14, 2026, the Company declared a dividend of $0.10 per share to be paid on November 27, 2026. The effect of this dividend is included in the table above but is not reflected in the Company’s financial statements as of September 30, 2026.
   

Book Value Per Share

The Company’s book value per share at September 30, 2026 was $6.02. The Company computes book value per share by dividing total stockholders’ equity by the total number of shares outstanding of the Company’s common stock. At September 30, 2026, the Company’s stockholders’ equity was $1,171.8 million with 194,661,864 shares of common stock outstanding.

Stock Offerings

On June 11, 2024, we entered into an equity distribution agreement (the “June 2024 Equity Distribution Agreement”) with three sales agents pursuant to which we could offer and sell, from time to time, up to an aggregate amount of $250,000,000 of gross proceeds from the sales of shares of our common stock in transactions that were deemed to be “at the market” offerings and privately negotiated transactions. We issued a total of 30,513,253 shares under the June 2024 Equity Distribution Agreement for aggregate gross proceeds of approximately $250.0 million and net proceeds of approximately $245.8 million, after commissions and fees, prior to its termination in February 2025.

On February 24, 2025, we entered into an equity distribution agreement (the “February 2025 Equity Distribution Agreement”) with four sales agents pursuant to which we could offer and sell, from time to time, up to an aggregate amount of $350,000,000 of gross proceeds from the sales of shares of our common stock in transactions that were deemed to be “at the market” offerings and privately negotiated transactions. On July 28, 2025, the February 2025 Equity Distribution Agreement was amended to increase the aggregate amount of gross proceeds from the sales of shares that may be offered by $150,000,000 to a total of $500,000,000. We issued a total of 59,492,504 shares under the February 2025 Equity Distribution Agreement for aggregate gross proceeds of approximately $445.1 million and net proceeds of approximately $438.0 million, after commissions and fees, prior to its termination in October 2025.

On October 27, 2025, we entered into an equity distribution agreement (the “October 2025 Equity Distribution Agreement”) with four sales agents pursuant to which we may offer and sell, from time to time, up to an aggregate amount of $500,000,000 of gross proceeds from the sales of shares of our common stock in transactions that are deemed to be “at the market” offerings and privately negotiated transactions. From inception through September 30, 2026, we issued a total of 48,824,644 shares under the October 2025 Equity Distribution Agreement for aggregate gross proceeds of approximately $360.9 million, and net proceeds of approximately $355.2 million, after commissions and fees. For the nine months ended September 30, 2026, we issued a total of 18,558,681 shares under the October 2025 Equity Distribution Agreement for aggregate gross proceeds of approximately $137.7 million, and net proceeds of approximately $135.5 million, after commissions and fees. 

Stock Repurchase Program

On July 29, 2015, the Company’s Board of Directors authorized the repurchase of up to 400,000 shares of our common stock. The timing, manner, price and amount of any repurchases is determined by the Company in its discretion and is subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common stock and the program may be suspended or discontinued at the Company’s discretion without prior notice. On February 8, 2018, the Board of Directors approved an increase in the stock repurchase program for up to an additional 904,564 shares of the Company’s common stock. Coupled with the 156,751 shares remaining from the original 400,000 share authorization, the increased authorization brought the total authorization to 1,061,316 shares, representing 10% of the Company’s then outstanding share count. On December 9, 2021, the Board of Directors approved an increase in the number of shares of the Company’s common stock available in the stock repurchase program for up to an additional 3,372,399 shares, bringing the remaining authorization under the stock repurchase program to 3,539,861 shares, representing approximately 10% of the Company’s then outstanding shares of common stock. On October 12, 2022, the Board of Directors approved an increase in the number of shares of the Company’s common stock available in the stock repurchase program for up to an additional 4,300,000 shares, bringing the remaining authorization under the stock repurchase program to 6,183,601 shares, representing approximately 18% of the Company’s then outstanding shares of common stock. On June 22, 2026, the Board of Directors approved an increase in the number of shares of the Company’s common stock available in the stock repurchase program for up to an additional 25,000,000 shares, bringing the remaining authorization under the stock repurchase program to 26,612,580 shares, representing approximately 13.3% of the Company’s currently outstanding shares of common stock. This stock repurchase program has no termination date.

From the inception of the stock repurchase program through September 30, 2026, the Company repurchased a total of 12,310,506 shares at an aggregate cost of approximately $123.3 million, including commissions and fees, for a weighted average price of $10.02 per share. During the nine months ended September 30, 2026, the Company repurchased a total of 6,052,680 shares at an aggregate cost of approximately $38.5 million including commissions and fees, for a weighted average price of $6.36 per share. During the three months ended September 30, 2026, the Company repurchased a total of 4,946,123 shares at an aggregate cost of approximately $31.2 million including commissions and fees, for a weighted average price of $6.30 per share. Subsequent to September 30, 2026, the Company repurchased a total of 1,669,704 shares at an aggregate cost of approximately $8.4 million including commissions and fees, for a weighted average price of $5.05 per share. The remaining authorization under the stock repurchase program as of October 22, 2026 was 19,996,753 shares.

Earnings Conference Call Details

An earnings conference call and live audio webcast will be hosted Friday, October 23, 2026, at 10:00 AM ET. Participants can register and receive dial-in information at https://register-conf.media-server.com/register/BIfedea08824724a5a9237676385ec8a2e. A live audio webcast of the conference call can be accessed at https://edge.media-server.com/mmc/p/j9wajtqm or via the investor relations section of the Company’s website at https://ir.orchidislandcapital.com. An audio archive of the webcast will be available for 30 days after the call.

About Orchid Island Capital, Inc.

Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates, and CMOs issued by the GSEs, and (ii) structured Agency RMBS, such as IOs, IIOs and principal only securities, among other types of structured Agency RMBS. Orchid is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.

Forward Looking Statements

Statements herein relating to matters that are not historical facts, including, but not limited to statements regarding interest rates, inflation, liquidity, funding levels and spreads, prepayment speeds, portfolio composition, positioning and repositioning, hedging levels, leverage ratio, dividends, book value, investment and return opportunities, the supply and demand for Agency RMBS and the performance of the Agency RMBS sector generally, the effect of actual or expected actions of the U.S. government, including the Fed, market expectations, future opportunities and prospects of the Company, the stock repurchase program, and general economic conditions, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned that such forward-looking statements are based on information available at the time and on management’s good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward-looking statements. Important factors that could cause such differences are described in Orchid Island Capital, Inc.’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Orchid Island Capital, Inc. assumes no obligation to update forward-looking statements to reflect subsequent results, changes in assumptions or changes in other factors affecting forward-looking statements.

Summarized Financial Statements

The following is a summarized presentation of the unaudited balance sheets as of September 30, 2026, and December 31, 2025, and the unaudited quarterly statements of operations for the nine and three months ended September 30, 2026 and 2025. Amounts presented are subject to change.

ORCHID ISLAND CAPITAL, INC.
BALANCE SHEETS
($ in thousands, except per share data)
(Unaudited – Amounts Subject to Change)

    September 30, 2026   December 31, 2025
ASSETS:            
Mortgage-backed securities, at fair value   $ 10,667,068   $ 10,628,658
U.S. Treasury securities, available-for-sale     207,861     135,133
Cash, cash equivalents and restricted cash     613,968     724,561
Accrued interest receivable     53,076     49,127
Derivative assets, at fair value     20,703     9,253
Reverse repurchase agreements     460,471     128,613
Receivable for investment securities and TBA transactions     –     –
Other assets     860     648
Total Assets   $ 12,024,007   $ 11,675,993
             
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Repurchase agreements   $ 10,361,717   $ 10,115,466
Payable for investment securities and TBA transactions     –     1,519
Dividends payable     19,491     21,865
Derivative liabilities, at fair value     1,180     1,846
Accrued interest payable     19,491     31,397
Due to affiliates     1,667     1,661
Obligation to return securities borrowed under reverse repurchase agreements, at fair value     435,692     128,724
Other liabilities     12,933     1,567
Total Liabilities     10,852,171     10,304,045
Total Stockholders’ Equity     1,171,836     1,371,948
Total Liabilities and Stockholders’ Equity   $ 12,024,007   $ 11,675,993
Common shares outstanding     194,661,864     181,985,900
Book value per share   $ 6.02   $ 7.54
             

ORCHID ISLAND CAPITAL, INC.
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
($ in thousands, except per share data)
(Unaudited – Amounts Subject to Change)

    Nine Months Ended September 30,     Three Months Ended September 30,  
    2026     2025     2026     2025  
Interest income   $ 486,145     $ 281,813     $ 164,120     $ 108,434  
Interest expense     (309,976 )     (212,027 )     (104,986 )     (81,515 )
Net interest income     176,169       69,786       59,134       26,919  
Losses (gains) on RMBS and derivative contracts     (265,357 )     499       (231,719 )     50,600  
Net portfolio (loss) income     (89,188 )     70,285       (172,585 )     77,519  
Expenses     20,495       14,663       6,335       5,441  
Net (loss) income   $ (109,683 )   $ 55,622     $ (178,920 )   $ 72,078  
Other comprehensive income     (836 )     280       (280 )     94  
Comprehensive net   $ (110,519 )   $ 55,902     $ (179,200 )   $ 72,172  
                                 
Basic and diluted net (loss) income per share   $ (0.56 )   $ 0.48     $ (0.90 )   $ 0.53  
Weighted Average Shares Outstanding     195,970,255       115,574,062       198,454,916       136,368,958  
Dividends Declared Per Common Share:   $ 0.96     $ 1.08     $ 0.30     $ 0.36  
                                 

  Three Months Ended September 30,  
Key Balance Sheet Metrics 2026     2025  
Average RMBS(1) $ 11,103,616     $ 7,674,720  
Average repurchase agreements(1)   10,724,316       7,331,428  
Average stockholders’ equity(1)   1,306,547       999,025  
Adjusted leverage ratio(2) 8.8:1     7.4:1  
Economic leverage ratio(3) 8.6:1     7.4:1  
               
Key Performance Metrics              
Average yield on RMBS(4)   5.91 %     5.65 %
Average cost of funds(4)   3.92 %     4.45 %
Average economic cost of funds(5)   3.43 %     3.25 %
Average interest rate spread(6)   1.99 %     1.20 %
Average economic interest rate spread(7)   2.48 %     2.40 %

(1) Average RMBS, borrowings and stockholders’ equity balances are calculated using two data points, the beginning and ending balances.
(2) The adjusted leverage ratio is calculated by dividing ending repurchase agreement liabilities by ending stockholders’ equity. 
(3) The economic leverage ratio is calculated by dividing ending total liabilities, adjusted for net notional TBA positions and securities borrowed, by ending stockholders’ equity.
(4) Portfolio yields and costs of funds are calculated based on the average balances of the underlying investment portfolio/borrowings balances and are annualized for the quarterly periods presented.
(5) Represents the interest cost of our borrowings and the effect of derivative agreements attributed to the period related to hedging activities, divided by average borrowings.
(6) Average interest rate spread is calculated by subtracting average cost of funds from average yield on RMBS.
(7) Average economic interest rate spread is calculated by subtracting average economic cost of funds from average yield on RMBS.

CONTACT: CONTACT:
Orchid Island Capital, Inc.
Robert E. Cauley
Chairman and Chief Executive Officer
772-231-1400
https://ir.orchidislandcapital.com 

SALT LAKE CITY, Oct. 22, 2026 (GLOBE NEWSWIRE) — Health Catalyst, Inc. (“Health Catalyst”, Nasdaq: HCAT), a healthcare intelligence company designed to accelerate measurable improvement for health systems, will release its third quarter 2026 operating results on Thursday, November 5, 2026, after market close. In conjunction, the company will host a conference call to review the results at 5:00 pm ET on the same day.

Conference Call Details

The conference call can be accessed by dialing 800-274-8461 for U.S. participants, or 203-518-9814 for international participants, and referencing conference ID “HCATQ326.” A live audio webcast will be available online at https://ir.healthcatalyst.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

About Health Catalyst

Health Catalyst, Inc. (Nasdaq: HCAT) is a healthcare intelligence company designed to accelerate measurable improvement for health systems across cost, clinical, and consumer performance. Backed by deep domain expertise, proprietary AI-driven technology, and $2.8 billion in documented outcomes, Health Catalyst helps health systems move from data to confident, measurable action.

Health Catalyst Investor Relations Contact:

Stephanie St. Clair
Finance and Investor Relations, SVP
ir@healthcatalyst.com

Health Catalyst Media Contact:

Kay Blazar
VP, PR
SVM PR & Marketing
Healthcatalyst@SVMPR.com

  • Securities lawyer with over 25 years advising public companies and their boards, and a digital asset practitioner since 2015
  • Appointment adds public company securities and governance depth to the senior leadership team as Chief Executive Officer Alex Odagiu builds out the Company’s management team

LOUISVILLE, CO, Oct. 22, 2026 (GLOBE NEWSWIRE) — BNB Standard Corporation (Nasdaq: BNC) (“BNB Standard,” “BNC,” or the “Company”), a growth-oriented company focused on managing the world’s largest corporate treasury of BNB, today announced the appointment of Margaret Rosenfeld as Executive Vice President, Chief Strategy and Legal Officer. Ms. Rosenfeld will lead the Company’s legal, governance and regulatory strategy functions. She will report to Mr. Odagiu, whom the Company’s board of directors appointed Chief Executive Officer on October 19, 2026. Her appointment also coincides with the recent launch of the Company’s new website and treasury dashboard at www.bnbstandard.com, the first step in the Company’s effort to carry the BNB Standard, and an understanding of BNB, to institutional investors.

Ms. Rosenfeld has spent over 25 years advising public companies and their boards on securities regulation, capital markets, SEC reporting and M&A, including as an equity partner at K&L Gates. She began her career at Freshfields Bruckhaus Deringer and Paul, Weiss, Rifkind, Wharton & Garrison in Frankfurt, London and Tokyo, working on cross-border IPOs and financings and technology transactions, and has been ranked by Chambers USA and Best Lawyers in M&A and securities.

Her work in digital assets dates to 2015, when she founded one of the first blockchain practices at a U.S. law firm. She later co-led the global Digital Assets and Blockchain practice at K&L Gates. She has since served as the first Chief Legal Officer of four financial technology and digital asset platforms, most recently Everstake, a global staking infrastructure provider, where she represented the company before the SEC’s Crypto Task Force on non-custodial staking. She also served as an independent director of Gryphon Digital Mining during its Nasdaq reverse takeover process.

“We are building a leadership team that can run BNB Standard the way a Nasdaq company should be run. Margaret’s appointment is a big step toward it,” said Alex Odagiu, Chief Executive Officer of BNB Standard Corporation. “She has advised public company boards for her entire career and has worked in digital assets since 2015, as general counsel at crypto companies and in the boardrooms of public companies. As we work to grow BNB per share and build an operating business on BNB Chain, starting with our planned validator, we need that experience at the officer level.”

“BNB Standard has asked investors to judge it by what it publishes, and my job is to see that our disclosure and governance hold up to that every day,” said Ms. Rosenfeld. “BNB Chain is a global network, and regulators around the world are still writing the rules for digital assets. I will lead our regulatory strategy in every market where we operate, so the Company can work to grow its treasury and build its operating business with confidence. The BNB ecosystem deserves a public company that institutional investors can underwrite, and we intend to be that company.”

Ms. Rosenfeld holds a J.D. with highest honors from The George Washington University Law School, where she was elected to the Order of the Coif, and a B.A. summa cum laude from Rutgers University. She is admitted to practice in New York and North Carolina.

Inducement Grants

On October 21, 2026, the Compensation Committee of the Company’s Board of Directors (the “Board”) granted inducement awards of restricted stock units (“RSUs”) under the CEA Industries Inc. 2026 Inducement Plan (the “Inducement Plan”) to two newly hired employees as inducements material to their entering into employment with the Company. The Inducement Plan was approved by the Board without stockholder approval pursuant to, and in accordance with Nasdaq Listing Rule 5635(c)(4). Ms. Rosenfeld received an RSU award for 363,636 shares of the Company’s common stock, which vest as to 25% on July 27, 2027 and as to the remaining 75% in twelve substantially equal quarterly installments thereafter through July 27, 2030, subject to her continued service with the Company through each vesting date. Manuel Romero, the Company’s newly hired Controller, received an RSU award for 20,000 shares of the Company’s common stock, which vest as to 25% on September 30, 2027 and as to the remaining 75% in three equal annual installments beginning on September 30, 2028, , subject to his continued service with the Company through each vesting date. Each grant is subject to the terms and conditions of the Inducement Plan and the applicable RSU award agreement.

About BNB Standard Corporation

BNB Standard Corporation (Nasdaq: BNC) is a growth-oriented company that focuses on building category-leading businesses in consumer markets, including building and managing the world’s largest corporate treasury of BNB.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws, which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “project,” “target,” “estimate,” “anticipate,” “confidence,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. By their nature, forward-looking statements speak only as of the date they are made, are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. BNC’s expectations, beliefs and projections are expressed in good faith, and BNC believes there is a reasonable basis for them. However, there can be no assurance that BNC’s expectations, beliefs and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding Ms. Rosenfeld’s anticipated role and contributions, the vesting of the RSUs granted under the Inducement Plan, the Company’s leadership and management structure, including its plans to expand its senior leadership team, the Company’s plans to operate a validator on BNB Chain and to build an operating business on BNB Chain, the Company’s plans to educate institutional investors about the BNB ecosystem and its other future initiatives, the Company’s reporting on its BNB holdings and performance, the Company’s intended use of its website for disclosure purposes, the Company’s execution of its BNB digital asset treasury strategy, the Company’s ability to grow BNB per share, the Company’s strategy and engagement with the BNB community, the Company’s position as the world’s largest corporate BNB treasury, treasury management opportunities within the BNB ecosystem, the Company’s future financial results, share repurchases, strategy, plans, objectives, expectations (financial or otherwise) and growth potential and the Company’s ability to create stockholder value. BNC wishes to caution readers that these forward-looking statements may be affected by the risks and uncertainties in BNC’s business, as well as other important factors that may have affected and could in the future affect BNC’s actual results and could cause BNC’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of BNC. In evaluating these forward-looking statements, readers should consider various risk factors, which include, but are not limited to: BNC’s ability to manage its leadership transition and to attract, integrate and retain senior management; BNC’s ability to appoint an additional independent director within the deadlines under BNC’s cooperation agreement with YZiLabs; the outcome of the Company’s director searches; the accuracy, completeness and timeliness of information presented on BNC’s website; differences between Adjusted Net Asset Value and the most directly comparable GAAP measures; BNC’s ability to secure, maintain and protect its rights to use the BNB Standard name and related marks; market and community reception of the new name and brand; volatility in the market price of BNB and other digital assets; the concentration of BNC’s holdings in BNB and of its custody arrangements within the Binance ecosystem; BNC’s ability to establish and operate a validator on BNB Chain, including its selection of and reliance on a third-party infrastructure provider, the amount and variability of validator rewards, and the risk of slashing, downtime, custody or smart contract failure; collateral maintenance and repayment obligations under BNC’s master loan facility; the outcome of the litigation relating to BNC’s Asset Management Agreement (the “AMA”), BNC’s non-payment of accrued management fees, and the enforceability of the AMA’s liquidated damages provision; the previously disclosed material weakness in BNC’s internal control over financial reporting; BNC’s continued compliance with Nasdaq listing requirements; BNC’s ability to finance its current business and proposed future business, including the ability to finance the continued acquisition of BNB; evolving laws, regulations and accounting guidance applicable to digital assets; the future value and adoption of BNB; shareholder activism; and execution of the Company’s BNB digital asset treasury strategy.

Forward-looking statements are subject to numerous conditions and risks, many of which are beyond BNC’s control. In addition, these forward-looking statements and the information in this press release are qualified in their entirety by cautionary statements and risk factor disclosures contained in BNC’s filings with the SEC, including BNC’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and BNC’s subsequent filings with the SEC, as each may be amended or supplemented from time to time. Copies of BNC’s filings with the SEC are available on the SEC’s website at www.sec.gov. BNC undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release, except as required by law.

BNB Standard Corporation Media Inquiries:
bnc@cw8.co
BNB Standard Corporation Investor Relations:
james@haydenir.com

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.