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NORFOLK, Va., Jan. 27, 2021 /PRNewswire/ — Norfolk Southern Corporation (NYSE: NSC) today reported fourth-quarter and full-year 2020 financial results.

Fourth-quarter net income was $671 million, diluted earnings per share were $2.64, and the operating ratio improved to an all-time quarterly record of 61.8%. Full-year net income was $2.0 billion, diluted earnings per share were $7.84 and the operating ratio was 69.3%. During the first quarter of 2020, Norfolk Southern reported a $385 million non-cash locomotive rationalization charge, and in the third quarter of 2020 reported a $99 million non-cash investment impairment charge. Excluding these non-cash charges, adjusted full-year net income was $2.4 billion, adjusted diluted earnings per share were $9.25, and the adjusted operating ratio improved to 64.4% versus the record of 64.7% set in 2019.

“During a year of unprecedented market disruption and uncertainty, the Norfolk Southern team delivered record productivity levels while providing safe and reliable freight solutions for our customers,” said James A. Squires, Norfolk Southern chairman, president and CEO. “As we take stock of what we achieved in 2020 while managing both the pandemic and energy market challenges, including the successful idling of four additional hump operations while driving productivity to record levels, we see much more opportunity ahead. We have set the stage to drive further efficiency and profitable growth in 2021 through our precision scheduled railroading operating plan, which will deliver long-term value for both our shareholders and customers.” 

Fourth-quarter summary

• Railway operating revenues of $2.6 billion decreased 4% compared with fourth-quarter 2019, driven by a 1% decline in volume, lower fuel surcharges, and differing business mix.
• Railway operating expenses were $1.6 billion, a decrease of 8%, or $139 million, compared with the same period last year. Lower fuel costs, compensation and benefits, and purchased services were partially offset by lower gains on property sales. 
• Income from railway operations was $1.0 billion, an increase of 2%, or $22 million, year-over-year. The railway operating ratio was 61.8%, an all-time record.

2020 summary

• Railway operating revenues of $9.8 billion declined 13% as volume was down 12% year-over-year, reflecting declines in all major commodity categories driven by the global pandemic.
• Railway operating expenses of $6.8 billion decreased $520 million, or 7%, compared with last year. Lower fuel costs, compensation and benefits, purchased services, and materials costs were partially offset by a $385 million non-cash locomotive rationalization charge as well as a $99 million non-cash impairment charge related to an equity-method investment. 
• Excluding the non-cash locomotive rationalization and investment impairment charges, adjusted operating expenses declined by $1.0 billion, or 14%, compared to last year.
• Income from railway operations was $3.0 billion and the operating ratio was 69.3%.
• Excluding the non-cash locomotive rationalization and investment impairment charges, adjusted income from railway operations was $3.5 billion, while the adjusted operating ratio improved to 64.4% versus the record of 64.7% set in 2019.

About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,300 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern is a major transporter of industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials. In addition, the railroad operates the most extensive intermodal network in the East and is a principal carrier of coal, automobiles, and automotive parts.

Non-GAAP Financial Measures

This news release includes certain non-GAAP financial measures. Reconciliation of these non-GAAP financial measures is provided in the table below, entitled “Reconciliation of Non-GAAP Financial Measures.”

Forward-looking statements

This news release contains forward-looking statements that may be identified by the use of words like “believe,” “expect,” “anticipate,” “estimate,” “plan,” “consider,” “project,” and similar references to the future. Forward-looking statements reflect our good-faith evaluation of information currently available. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to our annual and quarterly reports filed with the SEC for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.

Reconciliation of Non-GAAP Financial Measures

Information included within this filing includes non-GAAP financial measures, as defined by SEC Regulation G. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with U.S. generally accepted accounting principles (GAAP).

GAAP financial results are adjusted to exclude the effects of a non-cash charge in the first quarter of 2020 related to the sale of 703 locomotives. The introduction of precision scheduled railroading in 2019 continues to provide significant benefits to the network operations and resulted in excess capacity resulting in the sale of these locomotives. GAAP financial results are also adjusted to exclude the effects of an impairment charge in the third quarter of 2020 related to an equity method investment. The income tax effects on the non-GAAP adjustments were calculated based on the applicable tax rates to which the non-GAAP adjustments relate. 

Norfolk Southern believes that these non-GAAP financial measures provide valuable information regarding its earnings and business trends by excluding specific items that it believes are not indicative of the ongoing operating results of its business, providing a useful way for investors to make a comparison of our performance over time and against other companies in our industry by excluding the effects of the locomotive and impairment charges.  These non-GAAP financial measures are being provided as supplemental information to Norfolk Southern’s GAAP financial measures, and Norfolk Southern believes these measures provide investors with additional meaningful financial information regarding our operational performance. Norfolk Southern also uses these non-GAAP measures as supplemental measures to evaluate its business and performance. 

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SOURCE Norfolk Southern Corporation

TEL AVIV, Israel, Jan. 27, 2021 /PRNewswire/ — ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, today announced it has been included in Bloomberg’s 2021 Gender-Equality Index (GEI). The GEI brings transparency to gender-related practices and policies at publicly listed companies and increases the breadth of environmental, social, governance (ESG) data available to investors.  It also allows investors to assess company performance and compare across industry peer groups. 

“We’re pleased to be one of the 380 companies included in Bloomberg’s 2021 Gender-Equality Index,” said Ilana Fahima, ICL’s Chief People Officer. “As a company, ICL strives to promote equality at all of our facilities worldwide. We are also committed to ongoing transparency and to developing a diverse and inclusive workforce.”

“The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data investors are demanding today,” said Peter T. Grauer, chairman of Bloomberg. “Their commitment to disclosure is making the business case for inclusion and driving transparency in the markets.” 

About ICL

ICL Group LTD is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.

For more information, visit ICL’s website at www.icl-group.com.

To access ICL’s interactive Corporate Social Responsibility report, please click here.

You can also learn more about ICL on Facebook, LinkedIn and Instagram.

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SOURCE ICL

BENTONVILLE, Ark. and PURCHASE, N.Y. and STAMFORD, Conn., Jan. 27, 2021 /PRNewswire/ — Sam’s Club, (NYSE: WMT), a leading membership warehouse club, Synchrony, (NYSE: SYF), a premier consumer financial services company, and Mastercard, (NYSE: MA) a global technology company in the payments industry, announced today a new Sam’s Club Mastercard rewards program that provides additional value for cardholders – from expanded rewards to digital enhancements. The card program is an essential tool for all Sam’s Club Plus members that helps maximize savings and delivers on the evolving consumer shopping habits.

Sam’s Club, Synchrony, and Mastercard will give Plus members a total of up to 5% back on eligible Sam’s Club purchases.

Here’s how it works: Plus members using their Sam’s Club Mastercard earn 3% back on purchases in-club; they earn an additional 2% back from their Plus membership for a total of up to 5%. (Each program is independently operated and managed*). That is more value than any other credit card can consistently offer at Sam’s Club. For Plus members looking to make their money go further, there’s no better credit card in the market today.

Cardmembers can take advantage of these new benefits and features:

• More value: 3 + 2 = 5:
  Plus members earn 3% back on eligible purchases when shopping in-club or digitally through Sam’s Club when they use their Sam’s Club Mastercard and another 2% back from their Plus membership, for a total of up to 5% rewards on eligible purchases.
• Savings: For everyday eligible purchases, the credit card offers an industry leading 5% cash back on fuel anywhere (up to $6,000), 3% cash back on dining and takeout, and 1% cash back on all other eligible purchases.
• Less contact: As consumers look for ways to transact without touching cash, cards, or keypads, Synchrony has enabled Sam’s Club with contact-free technology, including the integration of payments capabilities into Sam’s Club Scan & Go patented solution, both in-club and at the pump.
• Mobile first: Sam’s Club cardholders can easily make purchases, track spending, check and pay balances, and securely manage and freeze accounts via the Sam’s Club mobile app enabled by the Synchrony plug-in (‘SyPi’).
• Digitized rewards: No more paper checks! Rewards are automatically loaded onto membership cards and can be used for future purchases made both online and in club, or exchanged for cash back.
• Applying made easy: Members can apply for the Sam’s Club Mastercard in club and via digital channels including the member service desk, at the point of sale (including Scan & Go), the Sam’s Club mobile app, SamsClub.com, via text message, and self-checkout enabled with Synchrony’s patent-pending dApply technology, API’s, and the Synchrony plug-in (‘SyPi’).

“We are always looking for ways to give our members a better experience, including ways to help them save money and earn rewards.  This new Sam’s Club Mastercard rewards program builds upon Sam’s Club as an essential business during the pandemic where we saw sales increasing by millions of transactions per week. Now more than ever, our members need savings. They now have a new tool in their toolkit to make their money go further,” said Tony Rogers, senior vice president and chief member officer, Sam’s Club. 

“The new Sam’s Club Mastercard rewards program is for members who want to make the most out of every club visit – just by buying things they need to purchase every day,” said Tom Quindlen, executive vice president and CEO of Retail Card, Synchrony. “Our nearly three-decade relationship rooted in co-innovation, continues to help provide cardholders with the benefits they deserve and the products they need.”

“Mastercard believes in putting the customer at the center and helping them find the most value in the products and services they use every day,” said Kush Saxena, executive vice president, U.S. Merchants and Acceptance, Mastercard. “The Sam’s Club Mastercard rewards program provides a competitive value proposition, unlocking the expanded benefits and instant savings consumers deserve on their everyday spend needs.”

Cardholders can access rewards digitally each February. The rewards can be received as cash back and can be used in any Sam’s Club in the U.S or online. 

New cardholder benefits go into effect Jan. 27, 2021. The new credit card design will become available in March 2021.

About Sam’s Club
Sam’s Club®, a division of Walmart Inc. (NYSE: WMT), is a leading membership warehouse club offering superior products, savings and services to millions of members in nearly 600 clubs in the U.S. and Puerto Rico. Now in its 38th year, Sam’s Club continues to redefine warehouse shopping with its highly curated assortment of high-quality fresh food and Member’s Mark items, in addition to market leading technologies and services like Scan & Go, Curbside Pickup and home delivery service in select markets. To learn more about Sam’s Club, visit the Sam’s Club Newsroom, shop at SamsClub.com, and interact with Sam’s Club on Twitter, Facebook and Instagram.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers.

Synchrony is changing what’s possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.

For more information, visit www.synchrony.com and Twitter: @Synchrony.

About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Footnotes:

*Cash Rewards are only available for Sam’s Club Plus Members for in-club purchases with any form of payment. Sam’s Club Plus Members get 2% back on qualifying pre-tax purchases with a maximum reward of $500 per 12-month membership period. Cash Rewards are awarded annually about 2 months prior to renewal date and loaded onto the membership card for use in club, on SamsClub.com or redeemable for cash. A member can accumulate a Maximum Balance of $2,000 in earned Cash Rewards on a membership card, at which point accrual of Cash Rewards stops until the Maximum Balance is reduced. Cash Rewards are not earned for purchases made during the time of Maximum Balance. Restrictions apply. Visit SamsClub.com/CashRewards for exclusions, program details and terms and conditions.

**Sam’s Club® Mastercard® cardholders earn Cash Back Rewards on eligible net purchases (less credits, returns, taxes and adjustments) made with their Sam’s Club® Mastercard® account. Rewards percentages depend on the type of purchase made. Cash Back Rewards are not earned on the following purchases or transactions at Sam’s Club or SamsClub.com: cash advances, tobacco and smoking related products (including electronic cigarettes), prescription purchases, reloading or purchase of prepaid cards, gift cards (including third party gift cards), or any cash equivalents. Maximum of $5,000 in Cash Back Rewards can be earned in a calendar year. Eligible Purchases on multiple Card Accounts for the same Sam’s Club member, including business and personal accounts, will be aggregated in determining the $5,000 maximum Cash Back per year. Cash Back Rewards are issued starting each February for the Cash Back earned during the previous calendar year. Cash Back Rewards are forfeited if the Sam’s Club® Mastercard® account is not in good standing (i.e., is delinquent) or if the Sam’s Club Membership terminates or lapses. Cash Back Rewards will be automatically loaded onto your Sam’s Club membership and may be redeemed only at a Sam’s Club location or at SamsClub.com. See the “How to Earn Cash Back with your Sam’s Club® Mastercard®” rewards program terms or visit SamsClub.com/sams/images/MasterCard_CashBack.pdf for details. The Sam’s Club Mastercard is issued by Synchrony Bank pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. 

***Rewards are subject to each program’s terms, including different maximum rewards and payout dates. Learn more at SamsClub.com/Credit and SamsClub.com/Terms. 

Media Contacts:

Meggan Kring

Sam’s Club Corporate Communications 
515-710-6692
[email protected]

Nicole Ward

AVP, external relations, Synchrony
203-564-6938
@NWardsays
[email protected]

Margaret Williams

Mastercard Communications  
914-249-2926
[email protected]

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SOURCE Synchrony

EXTON, Pa., Jan. 27, 2021 /PRNewswire/ — First Resource Bank (OTCQX: FRSB) announced financial results for the three months and year ended December 31, 2020.

Highlights through the year ended December 31, 2020 included:

• Net income grew 40%
• Total interest income grew 8%, while total interest expense declined 14%
• Non-interest bearing deposits grew 97%
• Total deposits grew 33%
• Total loans grew 21%
• $58.8 million of Paycheck Protection Loans completed, $23.2 million were forgiven to date
• Subordinated debt offering was completed totaling $6 million
• Total assets increased 26%, ending the year at $424 million
• Nonperforming assets to total assets improved by 79%
• 98.7% of loans that were modified due to the pandemic have returned to a regular payment schedule
• First Resource Bank was named Best Bank in Chester County by readers of the Daily Local News for the fourth consecutive year

Glenn B. Marshall, CEO, stated, “2020 was uniquely challenging in many ways and the First Resource Bank team stepped up at a critical time to directly help our customer base and the broader community. Our active participation in the Paycheck Protection Program (PPP) in 2020 was an opportunity to directly help many impacted small businesses and First Resource Bank has already begun active participation in the critical second round of PPP loans in 2021. Working with a community bank has never been more important and many small businesses have come to that realization allowing us the opportunity to win their business. I am extremely grateful for the new banking relationships we were able to develop in 2020 and thrilled by our ability to grow our business exponentially while continuing to exceed customers’ expectations.”

Net income for the quarter ended December 31, 2020 was $1,118,435, which compares to $815,406 for the previous quarter and $628,299 for the fourth quarter of the prior year. This was the most profitable quarter in the Bank’s history, aided by fee recognition as PPP loans were forgiven. Net income for the year ended December 31, 2020 was $3,250,967, a 40% increase as compared to the prior year.

Total interest income grew 10% when comparing the fourth quarter to the third quarter of 2020. This increase was driven by fees recognized in association with PPP loan forgiveness during the fourth quarter.

Total interest income rose 14% from $3,987,832 for the three months ended December 31, 2019 to $4,544,389 for the three months ended December 31, 2020. This increase was the result of 21% loan growth when comparing December 31, 2020 to a year prior, partially mitigated by a 34 basis point decline in loan yields when comparing the fourth quarter of 2019 to the fourth quarter of 2020. This loan yield decline is a result of lower yielding PPP loans booked in the second and third quarters of 2020 and the impact of the Federal Reserve 150 basis point rate cuts in March 2020, partially offset by fees recognized in association with PPP loan forgiveness during the fourth quarter. Total interest income was $16,654,083 for the year ended December 31, 2020, an 8% increase over the prior year.

Total interest expense decreased 3% when comparing the fourth quarter to the third quarter of 2020. This decrease was driven by a 16 basis point decrease in the cost of deposits during the quarter, partially offset by an increase in interest expense on subordinated debt. Interest expense on deposits continues to be actively managed to lower costs.

Total interest expense decreased 26% from $1,116,149 for the three months ended December 31, 2019 to $825,984 for the three months ended December 31, 2020. The vast majority of this decreased expense was related to a 71 basis point decrease in the cost of money market accounts and a 67 basis point decrease in the cost of certificates of deposit, year over year. Overall interest expense was also mitigated by strong growth in non-interest bearing deposits, which increased 97% when comparing December 31, 2020 to the year prior.  Total interest expense for the year ended December 31, 2020 was $3,690,514, a 14% decrease over the prior year.

Net interest income was $3,718,405 for the quarter ended December 31, 2020 as compared to $3,291,422 for the previous quarter, an improvement of 13%.  The net interest margin increased 16 basis points from 3.53% for the quarter ended September 30, 2020 to 3.69% for the quarter ended December 31, 2020. The overall yield on interest earning assets increased 7 basis points during the fourth quarter led by a 52 basis point increase in loan yields to 5.18%. The cost of interest bearing deposits decreased 16 basis points during the fourth quarter to 0.90%, with the majority of that decrease attributed to lower cost money market accounts and certificates of deposit.

Net interest income for the year ended December 31, 2020 was $12,963,569, a 17% improvement over net interest income of $11,113,630 for the year ended December 31, 2019. This growth was driven by a 9% increase in loan interest income and a 19% decline in deposit interest expense.

The provision for loan losses increased from $129,894 for the three months ended September 30, 2020 to $229,538 for the three months ended December 31, 2020. The provision for loan losses increased from $66,628 for the three months ended December 31, 2019, to $229,538 for the three months ended December 31, 2020. The provision for loan losses decreased from $786,129 for the year ended December 31, 2019 to $554,510 for the year ended December 31, 2020.

The allowance for loan losses to total loans was 0.86% at December 31, 2020 as compared to 0.78% at September 30, 2020 and 0.90% at December 31, 2019. Excluding PPP loans, which are 100% guaranteed by the SBA, the allowance for loan losses to total loans was 0.95% at December 31, 2020 and 0.93% at September 30, 2020. Non-performing assets consisted of non-performing loans of $382 thousand at December 31, 2020, a 73% decrease from the prior quarter. Non-performing assets to total assets decreased from 0.35% at September 30, 2020 to 0.09% at December 31, 2020.

Marshall noted, “Credit quality at December 31, 2020 is as good as it has been since 2007. I am thrilled with the progress made this year in resolving problem loans while ensuring that underwriting stays strong to avoid new problems in the future.”

Non-interest income for the quarter ended December 31, 2020 was $224,391, as compared to $136,863 for the previous quarter and $219,674 for the fourth quarter of the prior year. Swap referral fee income received in the fourth quarter of 2020 was $69,000, as compared to none in the third quarter of 2020 and $81,500 in the fourth quarter of 2019.

Non-interest income for the year ended December 31, 2020 was $781,794 as compared to $865,195 for the prior year. Swap referral fee income of $244,100 was received in 2020 as compared to $302,760 in 2019. There were no gains on sales of SBA loans in 2020 as compared to $24,463 in 2019.

Non-interest expense increased $30 thousand, or 1%, in the three months ended December 31, 2020 as compared to the prior quarter. The increase was primarily due to an increase in salaries and benefits, data processing, and other costs, partially offset by a decrease in occupancy costs. Non-interest expense increased $70 thousand, or 3%, when comparing the fourth quarter of 2020 to the fourth quarter of 2019. This increase was primarily attributed to an increase in salaries and benefits and advertising costs, partially offset by a decrease in other expenses.

Non-interest expense increased $827 thousand, or 10%, in the year ended December 31, 2020 as compared to the prior year. This increase was due to higher salaries and benefits expense associated with a higher headcount and higher occupancy costs.

President and Chief Financial Officer, Lauren C. Ranalli, stated, “Non-interest expenses are closely monitored at all times and the increase in employees in 2020 was critical to our growth and success. Non-interest expense to total assets has improved throughout 2020 and consistently remains better than our peers.”

Deposits grew a net $28.0 million, or 9%, from $330.1 million at September 30, 2020 to $358.0 million at December 31, 2020. During the fourth quarter, non-interest bearing deposits increased $18.2 million, or 22%, from $81.7 million at September 30, 2020 to $99.9 million at December 31, 2020. Interest-bearing checking balances increased $993 thousand, or 4%, from $22.7 million at September 30, 2020 to $23.7 million at December 31, 2020. Money market deposits increased $12.1 million, or 9%, from $128.4 million at September 30, 2020 to $140.5 million at December 31, 2020. Certificates of deposit decreased $3.3 million, or 3%, from $97.3 million at September 30, 2020 to $93.9 million at December 31, 2020.

The deposit portfolio grew $88.2 million, or 33%, during the year ended December 31, 2020, with a $61.2 million increase in total checking balances and a $38.0 million increase in money market balances, partially offset by an $11.0 million decline in certificates of deposit balances. Checking balances represented 35% of total deposits at December 31, 2020, a significant increase from 23% at December 31, 2019.

Ranalli noted, “Checking deposit growth in 2020 was tremendous and that allowed us to be less dependent on higher cost forms of funding such as money markets and certificates of deposit. We embraced the opportunity to grow deposit relationships with PPP customers that were new to the Bank and were successful in doing so. Our customer service excellence is paramount in everything we do as evidenced by our Best Bank in Chester County accolades for the last four consecutive years.”

The loan portfolio decreased $8.0 million, or 2%, during the fourth quarter from $347.0 million at September 30, 2020 to $338.9 million at December 31, 2020, with strong growth in commercial real estate and construction loans offset by a decline in commercial loans due to SBA Paycheck Protection Program loan payoffs. Year-to-date net loan growth in 2020 was $58.7 million, or 21%, with the majority of that growth in commercial business loans as a result of the SBA’s Paycheck Protection Program and commercial real estate loans. Commercial construction loans consist primarily of suburban residential construction which declined 15% in 2020 due to strong demand in local residential housing markets that caused the construction project cycle to be accelerated creating less outstanding loan balances and faster payoffs. Residential inventory has been extremely limited in 2020 causing these construction projects to sell quickly. 

The following table illustrates the composition of the loan portfolio:

Total stockholder’s equity increased $1.1 million, or 4%, from $30.3 million at September 30, 2020 to $31.5 million at December 31, 2020, primarily due to net income generated, partially offset by a decline in the unrealized gain/loss position of the investment portfolio. During the quarter ended December 31, 2020, book value per share grew 39 cents, or 4%, to $11.32.

Total assets increased $29.1 million, or 7% during the fourth quarter of 2020, with growth in investments primarily funded by deposit growth. Total assets increased $88 million, or 26% during the year ended December 31, 2020, with growth in loans and cash funded by deposit growth.

About First Resource Bank

First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank with three full-service branches, serving the banking needs of businesses, professionals and individuals in the Delaware Valley. The Bank offers a full range of deposit and credit services with a high level of personalized service. First Resource Bank also offers a broad range of traditional financial services and products, competitively priced and delivered in a responsive manner to small businesses, professionals and residents in the local market. For additional information visit our website at www.firstresourcebank.com. Member FDIC.

This press release contains statements that are not of historical facts and may pertain to future operating results or events or management’s expectations regarding those results or events.  These are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934.  These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts.  When used in this press release, the words “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, or words of similar meaning, or future or conditional verbs, such as “will”, “would”, “should”, “could”, or “may” are generally intended to identify forward-looking statements.  These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are either beyond our control or not reasonably capable of predicting at this time.  In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking statements.  Readers of this press release are accordingly cautioned not to place undue reliance on forward-looking statements.  First Resource Bank disclaims any intent or obligation to update publicly any of the forward-looking statements herein, whether in response to new information, future events or otherwise. 

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SOURCE First Resource Bank

NEW YORK, Jan. 27, 2021 /PRNewswire/ — Meredith Corporation‘s (NYSE: MDP) PEOPLE, the No. 1 brand in the United States celebrating popular culture, is introducing a new quarterly publication focused exclusively on all things Royal. The Spring 2021 premiere issue of “PEOPLE Royals” hits newsstands nationwide on March 5 for 12 weeks. The tag line “majesty, glamour, inspiration,” displayed on the inaugural cover, will tout Princess Kate as “Kate the Great: How the Future Queen Is Defining Herself.” The 100-page premium publication’s newsstand price will be $12.99 US/$15.99Canada and will also be available via annual subscription (four issues; $20) or two-year subscription (eight issues; $30) at https://peopleroyals.com/launch/. Each cover story will focus on a different member of the Royal family and will offer a rich look into his or her untold story — from Royal mom of three Princess Kate and future King Prince Williamto American Royals Meghan Markleand Prince Harry, and more.

Features will include a first-person essay, What Tea-Time Means to Me, written by Duchess of YorkSarah Ferguson. Spilling the Royal Tea will separate fact from fiction regarding stories about the Royals. The Royal Jewels will take readers inside the world’s ultimate collection of dazzling tiaras and glittery accessories, each with its own fascinating backstory. That Time I Met Royalty will feature an interview with actress Rita Wilson about her encounter with Princess Diana, and Written in the Stars, from Princess Diana‘s astrologer, Debbie Frank, will offer a personal glimpse of what readers’ own fairytales may hold. Recipes from the Palace and style and beauty secrets will be shared in Live Like a Royal. And it’s not only the British Royal family that will be featured in “PEOPLE Royals”; the premiere issue will also feature an exclusive interview with Prince Albert of Monaco, who talks about his life in quarantine during the pandemic.

Designed to usher readers behind palace walls, “PEOPLE Royals” will showcase glamorous new photos and inside stories they haven’t seen or read elsewhere — from lavish celebrations and cocktails fit for a Queen to the luxurious lifestyles of the world’s real-life princes, princesses, kings, and queens. With a chic, modern design and expert insights that only the editors of PEOPLE can provide, the quarterly perfect-bound publication will be a coveted collectible for Royals fans.

“PEOPLE has reported on the Royals since its debut in 1974 and has established itself as the leading authority on Royals,” says Dan Wakeford, Editor in Chief, PEOPLE. “We felt it was only natural to launch a stand-alone beautifully crafted quarterly magazine, which will inspire and entertain with deep stories and lush photography.” 

Adds Doug Olson, President and General Manager, Meredith Magazines, “Readers count on PEOPLE as the trusted authority to provide the most accurate and comprehensive Royals coverage. ‘PEOPLE Royals’ is the latest addition to Meredith’s successful stable of quarterly publications and I have no doubt it will be received positively by Royals enthusiasts.”

PEOPLE also teamed up again with The CW Network for two upcoming one-hour documentary specials focused on the Royals. The first, “PEOPLE Presents: Harry & Meghan’s American Dream,” is set to air Tuesday, March 30 at 9pm ET/PT, and the second, “PEOPLE Presents: William & Kate’s Royal Anniversary,” is set to air Thursday, April 29, at 8pm ET/PT. These documentary specials are an informative and entertaining chronological re-telling of the “fab four” that will feature archival footage with animation, graphics, fun explainer pods, and expert commentary from PEOPLE’s Royals team. The TV specials are the latest in a partnership with The CW Network that began last year with the broadcast of the two-hour documentary, “PEOPLE Presents Harry & Meghan: A Royal Rebellion.“

PEOPLE’s vast audience has had an insatiable appetite for the Royals over the years. In fact, Princess Diana appeared on the cover of PEOPLE more than any other subject in the brand’s history. William and Kate’s wedding in 2011 and Harry and Meghan’s wedding in 2018 remain among the best-selling issues. One of PEOPLE’s most popular digital verticals is dedicated to the Royals at https://people.com/royals/, which satisfies readers’ interest in up-to-the-minute, 24/7 content.

In 2017 PEOPLE partnered with ABC on “The Story of Diana,” a two-night television event that marked the 20^th anniversary of Princess Diana’s tragic passing at 36 years old. The documentary debuted to impressive ratings and won the two-hour timeslot over two consecutive nights, which led to another two-night ABC documentary the following year called “PEOPLE Presents the Royals.” And back in 1997, PEOPLE purchased at Christie’s auction in New York one of Princess Diana’s famous Jacques Azagury dresses, which was subsequently donated to the New-York Historical Society in 2015 and is now a part of the museum’s permanent collection.

ABOUT PEOPLE


Meredith Corporation’s (NYSE: MDP) PEOPLE revolutionized personality journalism when it launched as a weekly in 1974 with a mission to celebrate extraordinary people doing ordinary things and ordinary people doing extraordinary things.  Ubiquitous and still at the center of pop culture more than 46 years later, the PEOPLE brand is accessible across all media and platforms (print, digital, video, OTT, mobile, social) bringing more than 100 million consumers a unique mix of breaking entertainment news, exclusive photos, video, unparalleled access to the red carpet, celebrities, and in-depth reporting on the most compelling newsmakers of our time. An essential component of PEOPLE’s editorial vision remains human interest stories, which touch and often mirror the lives of our passionate audience. ComScore ranks the PEOPLE/Entertainment Weekly Digital Network No. 1 in the entertainment news category. PeopleTV, the advertiser-supported OTT streaming service from PEOPLE and Entertainment Weekly that launched in 2016, features original series and specials focusing on celebrity, red carpet, pop culture, lifestyle and human-interest stories. PEOPLE is an award-winning 24/7 news organization headquartered in NYC with reporters worldwide. For more information visit PEOPLE.com and follow @people on Twitter and Instagram, @peoplemag on Facebook, and the PEOPLE channel on YouTube and on Snapchat’s Discover.

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SOURCE PEOPLE

COLUMBUS, Ohio, Jan. 27, 2021 /PRNewswire/ — American Electric Power (Nasdaq: AEP) is recognized in the 2021 Bloomberg Gender-Equality Index (GEI), which highlights companies dedicated to reporting gender-related data and advancing women’s equality. This is the third consecutive year AEP has been included in the index.

The GEI is a modified market capitalization-weighted index that tracks the performance of public companies committed to transparency in gender data reporting. This year’s GEI is based upon scoring in five metrics: female leadership and talent pipeline; equal pay and gender pay parity; inclusive culture; sexual harassment policies; and pro-women brand. AEP was included for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars. The index includes 380 companies from 11 industries headquartered across 44 countries and regions.

“AEP is pleased to be recognized again for our ongoing commitment to gender equality and data transparency,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. “Diversity, equity and inclusion are key parts of our business strategy. AEP continually examines the best ways to support and empower women in the workplace, while also acting as a catalyst for change in our communities.”

AEP is an active participant in several equality and diversity initiatives including Paradigm for Parity, the CEO Action for Diversity & Inclusion pledge and the Columbus Commitment: Achieving Pay Equity. In 2020, AEP also was named one of the Best Employers for Women by Forbes.

Learn more about AEP’s diversity, equity and inclusion strategy.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s approximately 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,300 megawatts of renewable energy. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

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SOURCE American Electric Power

ZURICH, Jan. 27, 2021 /PRNewswire/ — Industry leaders Constellium and Novelis announced today the launch of Alumobility, a non-profit organization focused on providing innovative implementation-ready solutions to advance the adoption of aluminum automotive body sheet. This global ecosystem of the leading aluminum producers and downstream technology partners will drive value for automakers and consumers by helping to fulfill the promise of a lighter, more efficient, more sustainable mobility future. Through collaborative technical projects and thought leadership, as well as working in partnership with global automotive manufacturers, Alumobility will help further develop smarter, lighter, safer, and more sustainable vehicles.

Automakers continue to rely on lightweight, high-strength, sustainable aluminum to shape the future of mobility. To further their efforts, Alumobility has already developed technical studies that address the next-generation aluminum door and an all-aluminum structural B-pillar. The resulting design solutions underscore that aluminum can effectively compete with other materials for mass production vehicles at an attractive cost to manufacturers.

“Alumobility is a collaboration of organizations to enthusiastically innovate and demonstrate the advantages of aluminum auto body sheet in vehicle applications,” said Pierre Labat, President of Alumobility and Vice President, Global Automotive at Novelis. “Our global ecosystem approach is focused on action and leverages the best minds in our industry to support OEMs and deliver aluminum-enabled mobility.”

Alumobility represents a commitment of collaboration to further advance the technical capabilities of automotive aluminum body sheet in order to compete with other materials in next-generation vehicle design.

“Aluminum offers the promise of a stronger, more collaborative, more sustainable mobility future,” said Jack Clark, Vice President of Alumobility and Constellium’s Senior Vice President of Manufacturing and Chief Technical Officer. “The technical work published by Alumobility will reinforce the vital role of lightweight, sustainable aluminum, particularly for electric vehicles, while increasing recycling and reducing carbon emissions throughout the lifecycle.”

An executive director, who will be named in the coming weeks, will lead the organization, which is governed by a board of directors representing member companies.

Alumobility will include additional member companies with downstream expertise, such as joining, forming, and other specialized manufacturing processes that actively contribute to increasing the adoption of aluminum auto body sheet. Members will be required to contribute unique technical expertise and support Alumobility marketing initiatives. All resulting work will be available upon request. The independent member companies will not share commercial or production resources.

About Alumobility
Alumobility is a global ecosystem of the world’s leading aluminum and downstream technology partners that supports automotive manufacturers in creating lighter, safer, smarter and more sustainable vehicles. The non-profit association was founded to focus on implementation-ready technical solutions to advance the adoption of aluminum automotive body sheet. Working in partnership with global automakers, Alumobility will help fulfill the promise of a lighter, more efficient, more sustainable mobility future. For more information, visit alumobility.com.

About Constellium
Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €5.9 billion of revenue in 2019. For more information, visit constellium.com.

About Novelis
Novelis Inc. is driven by its purpose to shape a sustainable world together. As a global leader in innovative products and services and the world’s largest recycler of aluminum, we partner with customers in the aerospace, automotive, beverage can and specialties industries to deliver solutions that maximize the benefits of lightweight aluminum throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit novelis.com.

Media Contacts:

Stacie Tong

[email protected]

+1 248 207 8842

Matt Bianco

[email protected]

+1 404 713 5627

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SOURCE Alumobility

MONETT, Mo., Jan. 27, 2021 /PRNewswire/ — Jack Henry & Associates, Inc.^® (NASDAQ: JKHY) a leading provider of technology solutions and payment processing services primarily for the financial services industry, announced today that it will host a live Webcast of its second quarter fiscal year 2021 earnings conference call on February 9, 2021.  The press release announcing second quarter earnings will be issued after market close on February 8, 2021.

The live Webcast, which will begin at 7:45 a.m. Central (8:45 a.m. Eastern), can be accessed on the Jack Henry Web site at www.jackhenry.com.  Please log on 10 minutes prior to the beginning of the call.  An archived replay of the quarterly earnings call will be available on www.jackhenry.com approximately one hour after the live call.   

About Jack Henry & Associates, Inc.

Jack Henry (NASDAQ: JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,700 clients nationwide through three divisions: Jack Henry Banking^® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar^® provides industry-leading solutions to credit unions of all sizes; and ProfitStars^® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com. 

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SOURCE Jack Henry & Associates, Inc.

LITTLE FALLS, N.J., Jan. 27, 2021 /PRNewswire/ — Bantec, Inc. (OTCPINK: BANT) (“Bantec” or the “Company”), Bantec, Inc., a product and services company, announces that it will be launch an Exposure Response Mobile Service to combat COVID-19 flair ups occurring in all work and residential settings. 

Michael Bannon, Bantec’s Chairman and CEO stated: “In response to the federal and state guidelines for properly protecting employees in the workplace after an employee tests positive for COVID, Bantec Sanitizing is proud to announce Exposure Response, a rapid response mobile COVID disinfecting service.  Conversations with noted employment attorney Ayesha Hamilton, Esq., of the Hamilton Law Firm in Princeton, NJ, helped Bantec identify this need. Ayesha advises: “State and federal guidelines mandate that employers “deep clean” their workplace after an employee tests positive for COVID-19 prior to allowing employees back into the facility.”

Exposure Response will provide a mobile service which will sanitize a workplace using CleanSmart products and protocols and/or provide products and training which will allow employers to effectively sanitize their facilities post exposure.

Bantec intends to launch this mobile service in early February 2021.  

Sanitizing process being performed at Chem Flowtronics, our strategic partner, and ventilator supplier.  www.chemflowtronics.com

Link to Exposure Response Sanitizing Video: https://youtu.be/2Vay2B5J3jw

About Bantec Sanitizing

Bantec Sanitizing, a division of Bantec, provides a variety of products and services to help facility managers, safety professionals, and maintenance personnel combat a multitude of airborne and surface hazards.

Bantec Sanitizing: www.bantec.store

About Bantec 

Bantec, Inc, a product and services company, through its subsidiaries and divisions sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments, and the US government. Our difference that matters consists of establishing lifelong customer and supplier friendships, responding immediately to our customers’ needs, and providing products and services through a highly technically trained, motivated, and incentivized workforce.

Forward-Looking Statements

Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses, or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes” or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.

Contacts:  

Michael Bannon

Chairman & CEO
[email protected]
(203) 220-2296

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SOURCE Bantec, Inc.

HENDERSON, Nev., Jan. 27, 2021 /PRNewswire/ — Gen2 Technologies Inc. (the “Company”) (OTC:BRKK) is pleased to inform its shareholders that its launch of the Iris Media Platform is seeing strong initial demand for sign-ups with targeted content providers. 

The cutting-edge Iris Media Platform – described in more detail in a whitepaper located at www.brkgen2.com – has begun marketing to content providers across collegiate and professional sports along with social media and traditional celebrities worldwide. A key selling point of this platform, which is similar in intended scope and function to a streaming YouTube / YouTube Premium service, will be the breadth and depth of take-up by parties willing to offer compelling content via Gen2’s proprietary Iris cameras. We are pleased to announce that within a short period of marketing the platform, the company has entered into discussions with a number of entities both collegiate and professional and has signed up initial participation in the program.

Matthew Moretti, Associate A.D. for Communications at Jacksonville University, stated, “We are pleased to become part of this cutting-edge media initiative. Gen2 Technologies’ Iris Platform can help us better reach an audience that is looking to access new and compelling digital sports content.”

Furthermore, management has put forth the Iris Media Platform for discussion with a global leader in advertising and marketing and looks forward to exploring opportunities as progress is made over the course of 1H 2021 in preparing for a 2H 2021 infrastructure and commercial rollout. We believe that we have a proposition with significant appeal to content providers, consumers, and advertisers – powered by our proprietary IP. More updates will be forthcoming as we move further into execution mode and look to ramp into our full hardware and service deployment.

For further queries, please feel free to email our IR at: [email protected]

BRK Inc./Gen2 Technologies Inc. (OTC PINK: BRKK), established in 2008, BRK/Gen2 is the next generation in live-action broadcasting technology. We are a full-service provider geared to professional leagues and athletes, whether it be traditional sports, extreme sports or esports, and that will allow fans to watch them in action from  perspectives that do not exist today. Our niche is that we are a second screen content provider that does not pose a threat to first screen media but rather we provide the opportunity to pioneer complimentary content and campaigns. In addition to the above, Gen2 technology is being developed for applications in security, law enforcement and other industrial verticals.

The foregoing contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as “will,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “is targeting,” “may,” “should,” ”poised,” and other similar words or expressions. Forward-looking statements are made based upon management’s current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.’s website, http://www.brkgen2.com does not constitute a part of this release.

Contact:
[email protected] 
brkgen2.com 
(702) 572-5080

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SOURCE Gen2 Technologies Inc.