UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 22, 2026 Life360, Inc. (Exact name of registrant as specified in its charter) Delaware 001-42120 26-0197666 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 1900 South Norfolk Street, Suite 310 Sa ...

https://files.reportify.cc/media/production/N FOR IMMEDIATE RELEASE CONTACTS: Lara E. Ramsey, President and CEO Lora M. Jones, Treasurer & CFO (540) 951-6250 lramsey@nbbank.com (540) 951-6238 ljones@nbbank.com EXHIBIT 99.1 National Bankshares, Inc. Reports Results for the Three and Twelve Months Ended December 31, 2025 BLACKSBURG, VA., January 22, 2026 -- National Bankshares, Inc. ("the Company") (Nasdaq: NKSH), parent company of The National Bank of Blacksburg ("the Bank") and National Bankshares Financial ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14920 McCORMICK & COMPANY, INCORPORATED (Exact name of registrant as specified in its charter) | | Maryland | | 52-0408290 | | --- | ...

Acquisition and Ownership - McCormick completed the purchase of an additional 25% ownership interest in McCormick de Mexico for $750 million, increasing its ownership to 75%[12]. - The company anticipates continued growth opportunities in the Mexican market and Latin America following the acquisition of McCormick de Mexico[12]. - The company acquired an additional 25% ownership in McCormick de Mexico on January 2, 2026, which may present financial and operational challenges[69]. Financial Performance - In 2025, net sales increased by 1.7% to $6,840.3 million compared to $6,723.7 million in 2024, with organic sales growth of 1.9%[152]. - Operating income for 2025 was $1,070.8 million, reflecting a 1.0% increase from $1,060.3 million in 2024, while adjusted operating income rose by 2.3% to $1,094.0 million[140]. - Diluted earnings per share in 2025 was $2.93, a slight increase from $2.92 in 2024, with adjusted diluted earnings per share rising to $3.00 from $2.95, representing a 1.7% increase[142]. - Net income for 2025 was $789.4 million, with adjusted net income of $807.1 million, marking a 1.4% increase compared to the previous year[183]. - The effective tax rate for 2026 is estimated to be 24.0%, up from 21.5% in 2025[150]. Segment Performance - In 2025, the Consumer segment contributed approximately 58% of consolidated net sales and 67% of consolidated operating income, while the Flavor Solutions segment contributed approximately 42% of consolidated net sales and 33% of consolidated operating income[14]. - Consumer segment net sales rose by 2.6% to $3,950.3 million in 2025, driven by a 2.1% increase in volume and product mix[169]. - Flavor Solutions segment net sales increased by 0.5% to $2,890.0 million in 2025, with favorable pricing contributing 1.3% to sales growth[174]. - Segment operating income for the Consumer segment decreased by $5.4 million to $734.9 million, resulting in a margin decline to 18.6%[173]. - Segment operating income for the Flavor Solutions segment increased by $29.6 million to $359.1 million, with an operating margin improvement to 12.4%[178]. Market Presence and Sales - Approximately two-thirds of Consumer segment sales are from spices, seasonings, condiments, and sauces, with McCormick being a global brand leader in these categories[15]. - Sales to Wal-Mart Stores, Inc. accounted for approximately 12% of consolidated sales in 2025, while sales to PepsiCo, Inc. accounted for approximately 12% in 2025 and 13% in both 2024 and 2023[24]. - Approximately 39% of sales in fiscal year 2025 were from non-U.S. operations, indicating significant international market presence[38]. - The company generated approximately 39% of its sales from international markets in fiscal year 2025[103]. - McCormick's products are sold in approximately 150 countries and territories, showcasing a broad global reach[15]. Cost and Pricing Challenges - The company faces risks related to its ability to drive revenue growth and manage inflationary pressures on product costs[40]. - The company is exposed to fluctuations in raw material prices, particularly for key ingredients like dairy products, pepper, and soybean oil, which could negatively impact financial results[53]. - The company has experienced inflation in commodity and supply chain costs, including raw materials, packaging, labor, and transportation, and expects inflation to continue at a similar level in 2026 as in 2025[61]. - Increased competition in the food industry may necessitate price reductions, potentially impacting profitability during economic uncertainty[63]. - The rising popularity of private label products poses a risk to the company's brand relevance and market share[46]. Operational and Supply Chain Risks - Disruptions in the supply chain due to geopolitical tensions, natural disasters, or pandemics could impair the company's ability to manufacture and sell products[58]. - The company has implemented supply chain management initiatives to offset cost pressures, but these may not be sufficient to prevent reductions in sales volume[57]. - Labor shortages and increased turnover rates could lead to higher costs, including overtime and increased wage rates, negatively impacting the company's operations[60]. - The company is committed to maintaining high-quality standards, but any breach in quality assurance could lead to significant reputational damage and financial loss[48]. Strategic Initiatives and Future Outlook - The company is focused on product innovation and customer engagement to drive growth in highly competitive markets[30]. - The company is implementing a multi-year business transformation initiative to enhance global processes and reduce costs, including a new enterprise resource planning (ERP) system[96]. - The company expects net sales growth of 13% to 17% in 2026, driven by the acquisition of a controlling interest in McCormick de Mexico, contributing 11% to 13% of this growth[148]. - Adjusted operating income for 2026 is projected to increase by 16% to 20%, reflecting recovery in gross margin and cost savings from the CCI program[149]. - The company plans to increase brand marketing investments in 2026 by low to mid-teens percentages, including impacts from the recent acquisition[149]. Financial Management and Capital Structure - As of November 30, 2025, the company reported approximately $5.3 billion in goodwill and $3.0 billion in other indefinite-lived intangible assets, which are subject to impairment testing[70]. - The company's total indebtedness is approximately $4.0 billion as of November 30, 2025, which could increase debt service obligations and limit borrowing capacity[86]. - The company plans to maintain a prudent capital structure to support growth objectives, utilizing a mix of equity and debt financing[193]. - The company has $1.7 billion of earnings from non-U.S. subsidiaries considered indefinitely reinvested as of November 30, 2025[210]. Cybersecurity and Compliance - The company has implemented a risk-based, multilayered approach to cybersecurity, with significant resources devoted to managing threats[107]. - The company has not experienced any material cybersecurity threats or incidents to date, but acknowledges the potential for future risks[113]. - The company is actively engaged in monitoring and improving its cybersecurity and data privacy program, with oversight from the Board and Audit Committee[114]. - The company is subject to evolving data privacy laws, including GDPR and CCPA, which create compliance obligations and potential financial penalties[100]. - The company faces potential litigation related to privacy and data security, which could adversely affect its reputation and financial condition[102].

Company Structure and Operations - As of November 30, 2024, the company reorganized its operating segments, selling the North America Flooring business and forming the Building Adhesive Solutions segment[14]. - The company has sales offices and manufacturing plants in 24 countries outside the United States, with satellite sales offices in another 9 countries as of November 29, 2025[15]. - The company employs approximately 7,100 employees in 44 countries, with about 2,500 based in the U.S.[23]. Environmental Compliance and Sustainability - The company estimates expenditures to comply with environmental regulations over the next two years to be approximately $22.6 million, including $2.6 million of capital expenditures[42]. - The company focuses on developing adhesives and sealants to support customers' sustainability programs in response to changing consumer demand[41]. - The company maintains a strong environmental, health, and safety program to ensure workplace safety and compliance with regulations[24]. Research and Development - The company invests significantly in research and development to create new adhesive technology platforms and enhance product performance[39]. Customer Relationships and Revenue - The company has cultivated strong relationships with diverse customers, with no single customer accounting for more than 10% of consolidated net revenue[20]. - Approximately 56% of net revenue was generated outside the United States in 2025, indicating significant international exposure[233]. Financial Risks and Market Conditions - The company is exposed to market risks from changes in interest rates, foreign currency rates, and prices of raw materials, which could negatively affect financial performance[230]. - Unfavorable economic conditions may adversely impact sales volumes, pricing levels, and profitability, particularly during recessionary periods[231]. - A hypothetical one percent change in cost of sales due to foreign currency rate changes would have resulted in a change in net income of approximately $9.1 million or $0.17 per diluted share[236]. - The purchase of raw materials is the largest expenditure for the company, with a hypothetical one percent change in raw material costs resulting in a change in net income of approximately $12.6 million or $0.23 per diluted share[238]. - The annual impact on interest expense of a one-percentage point interest rate change on the outstanding balance of variable rate debt would have resulted in a change in net income of approximately $6.6 million or $0.12 per diluted share[232]. Risk Management Strategies - The company aims to balance non-functional currency denominated assets to liabilities to minimize foreign exchange impacts[234]. - Strategic sourcing agreements are in place to manage raw material price changes, limiting increases to supplier feedstock costs[238]. - The company does not enter into speculative positions with regard to derivative instruments to manage foreign currency exchange rate fluctuations[235]. - The principal raw materials include resins, polymers, and synthetic rubbers, with efforts to avoid sole source supplier arrangements[237]. Competitive Factors - The company’s competitive factors include product performance, supply assurance, technical service, quality, price, and customer service[18]. - The company is subject to various privacy and data protection laws, including the EU's General Data Protection Regulation (GDPR), which may impact operations[45].

Financial Performance - Revenue for Q4 2025 was $143.8 million, a 1.5% increase from $141.7 million in Q3 2025[4] - Operating income for Q4 2025 was $40.3 million, resulting in an operating margin of 28.0%, down from 34.5% in Q3 2025[4][8] - Net income attributable to common stockholders for Q4 2025 was $34.9 million, with diluted earnings per share of $0.68[4] - Total revenue for Q4 2025 was $143.8 million, representing a 1.5% increase from Q3 2025 and a 2.9% increase from Q4 2024[21] - Net income attributable to common stockholders for Q4 2025 was $34.9 million, a decrease of 16.4% compared to Q3 2025 and a decrease of 23.9% compared to Q4 2024[21] - Total revenue for the year ended December 31, 2025, was $556.1 million, reflecting a 7.5% increase from $517.4 million in 2024[23] - Operating income for the year ended December 31, 2025, was $177.7 million, a 2.8% increase from $172.9 million in 2024[23] - Earnings per share (EPS) for Q4 2025 was $0.68, down 16.4% from $0.81 in Q3 2025 and down 24.4% from $0.90 in Q4 2024[21] - Diluted earnings per share (EPS) for the year ended December 31, 2025, was $2.97, unchanged from the previous year[34] Assets Under Management (AUM) - Assets under management (AUM) at December 31, 2025, were $90.5 billion, a decrease of 0.4% from $90.9 billion at September 30, 2025[12] - Average AUM increased to $90,751 million, reflecting a 1.1% rise from $89,738 million in the previous quarter[25] - Total assets under management at the end of the period were $12.04 billion, up 6.7% from $11.29 billion[26] - Assets under management (AUM) increased to $20,843 million, representing an 8.2% growth year-over-year[28] - Assets under management (AUM) increased to $90,544 million at the end of December 2025, a 5.5% increase from $85,814 million in December 2024[32] Inflows and Outflows - Net inflows for Q4 2025 totaled $1.2 billion, contributing to the overall AUM despite market depreciation[12] - Total inflows for the quarter were $5,790 million, compared to $3,962 million in the prior quarter, representing a significant increase[25] - Net inflows for the quarter were $1,207 million, up from $233 million in the previous quarter, indicating strong demand[25] - Total inflows for the year ended December 31, 2025, were $18,200 million, compared to $17,948 million in 2024[32] - Net inflows for the total AUM were $1,531 million for the year ended December 31, 2025, compared to a net outflow of $171 million in the previous year[32] Expenses - Total expenses for Q4 2025 were $103.5 million, an increase of 11.5% from $92.8 million in Q3 2025[4] - Employee compensation and benefits decreased by 2.0% to $56.1 million in Q4 2025 compared to Q3 2025[7] - Total expenses for Q4 2025 were $103.5 million, an increase of 11.5% from Q3 2025 and an increase of 14.4% from Q4 2024[21] - The company incurred $10.814 million in fund launch and rights offering costs in Q4 2025[38] Market Performance - The company reported a foreign currency loss of $991,000 in Q4 2025, compared to a gain of $859,000 in Q3 2025[21] - The company experienced market appreciation of $6,063 million for the total AUM in 2025, compared to $5,420 million in 2024[32] - Market depreciation for the quarter was $685 million, contrasting with a market appreciation of $2,355 million in the prior quarter[25] Future Outlook - The company expects to see continued growth in revenue and operating income in the upcoming quarters, driven by strategic market expansions and new product launches[38] - The lease for the prior headquarters is set to expire in January 2024, which may lead to cost savings in future periods[39]

Financial Performance - Net income available to common shareholders for Q4 2025 was $11.1 million, a 49.9% increase from $7.4 million in Q4 2024[2] - Revenue for Q4 2025 reached $38.2 million, up 2.3% from Q3 2025[1] - Net interest income for the fiscal year 2025 was $76.5 million, a 30.2% increase from $58.7 million in 2024[7] - Net income attributable to the Company for the twelve months ended December 31, 2025, was $37.8 million, up 37.4% from $27.5 million in 2024[17] - Earnings per common share for the twelve months ended December 31, 2025, was $3.20, up from $2.30 in 2024, reflecting a growth of 39.1%[17] Asset and Loan Growth - Total assets increased to $2.25 billion, a 5.0% rise from $2.14 billion at the end of 2024[10] - Total loans grew to $2.04 billion, an 8.9% increase from $1.87 billion at the end of 2024[10] - Net loans rose to $2,000.6 million at December 31, 2025, compared to $1,835.6 million at December 31, 2024, reflecting a growth of 9.0%[16] - Total deposits rose to $1.80 billion, a 7.8% increase from $1.63 billion at the end of 2024[10] Credit Quality - Provision for credit losses increased to $2.5 million for the fiscal year 2025, up from $0.7 million in 2024[7] - Nonperforming loans decreased to $10.8 million, representing 0.53% of total loans, down from 0.62% in 2024[10] - Non-accrual loans decreased to $10.8 million as of December 31, 2025, from $11.8 million in 2024, showing an improvement in asset quality[19] - The allowance for credit losses increased to $34.6 million as of December 31, 2025, from $32.6 million in 2024, with the allowance to total loans ratio at 1.70%[19] Operational Efficiency - The efficiency ratio decreased to 33.39% for the three months ended December 31, 2025, down from 40.88% in 2024, indicating improved operational efficiency[18] - Return on average assets improved to 2.04% for the three months ended December 31, 2025, compared to 1.41% in 2024[18] Tax and Equity - The effective tax rate for the year ended December 31, 2025, was 23.5%, compared to 24.2% for the same period in 2024[9] - Total equity increased to $324.5 million at December 31, 2025, up from $300.1 million at December 31, 2024, representing an increase of $24.4 million or 8.1%[14] - Total borrowings decreased by $44.9 million to $143.4 million as of December 31, 2025, from $188.3 million at December 31, 2024[14] Non-Interest Income - Non-interest income decreased to $3.4 million for the fiscal year 2025, a 20.8% decline from $4.3 million in 2024[7]

Financial Performance - Fourth quarter net income for 2025 was $75.3 million, or $1.52 per diluted share, compared to $34.3 million, or $0.69 per diluted share in the third quarter[3]. - Operating net income for the fourth quarter was $84.4 million, or $1.70 per diluted share, up from $77.4 million, or $1.55 per diluted share in the prior quarter[3]. - Net income for Q4 2025 was $75,335, reflecting a 119.88% increase from Q4 2024[29]. - Basic earnings per share for Q4 2025 were $1.52, up 120.29% from $0.69 in Q4 2024[30]. - Operating net income (Non-GAAP) for Q4 2025 was $84,357, a 64.12% increase from Q4 2024[30]. - Total revenue for the year ended December 31, 2025, was $857,520,000, representing a 24.4% increase from $689,743,000 in 2024[50]. Income and Expenses - Net interest income increased by $9.2 million, or 4.5%, to $212.5 million in the fourth quarter compared to $203.3 million in the prior quarter[9]. - Noninterest income for the fourth quarter was $41.4 million, an increase of $1.0 million, or 2.6%, from the prior quarter[9]. - Noninterest expense decreased by $6.5 million, or 4.0%, to $154.4 million in the fourth quarter, driven by a reduction in merger and acquisition expenses[10]. - Total noninterest expenses decreased by 4.02% to $154,370 in Q4 2025 compared to Q3 2025[29]. - The company incurred merger and acquisition expenses of $12,348,000 in Q4 2025, down from $23,893,000 in Q3 2025[50]. Asset Quality - Nonperforming loans decreased to $83.6 million, representing 0.45% of total loans, down from 0.47% in the prior quarter[13]. - The fourth quarter provision for credit losses decreased to $4.8 million, compared to $38.5 million in the prior quarter[13]. - Nonperforming loans totaled $83,557 thousand, down from $86,597 thousand, indicating improved asset quality[35]. - Total nonperforming assets decreased to $85,657 thousand from $88,697 thousand, showing a positive trend in asset management[35]. Capital and Ratios - Return on average assets and return on average common equity for the fourth quarter were 1.20% and 8.38%, respectively, compared to 0.55% and 3.82% in the prior quarter[5]. - The common equity tier 1 capital ratio stood at 12.85%, slightly up from 12.84% in the previous quarter[37]. - The efficiency ratio (GAAP) increased to 61.79%, compared to 58.92% in the prior quarter, indicating higher operational costs[34]. - The efficiency ratio (GAAP) improved to 60.79% in Q4 2025 from 65.99% in Q3 2025, indicating better cost management[51]. Loans and Deposits - Total loans increased by $51.3 million, or 0.3%, to $18.5 billion at December 31, 2025, from the third quarter[7]. - Total deposits decreased by 0.83% from September 30, 2025, to $20,126,790,000, but increased by 31.50% compared to December 31, 2024[27]. - Total loans reached $18,503,777 thousand in 2025, up from $14,508,378 thousand in 2024, representing a year-over-year growth of 27.4%[47]. - Total deposits increased to $20,126,790 thousand in 2025, compared to $15,305,978 thousand in 2024, marking a growth of 31.0%[47]. Interest Income and Margin - Total interest income for Q4 2025 reached $297,535, a 37.54% increase compared to Q4 2024[29]. - Net interest income after provision for credit losses increased to $207,736, a 51.45% rise compared to Q4 2024[29]. - The net interest margin (FTE) improved to 3.77% in Q4 2025, up from 3.33% in Q4 2024[31]. - The interest rate spread improved to 3.07% for the quarter ended December 31, 2025, compared to 2.87% in the previous quarter[40]. - The average yield on interest-earning assets was 5.27% for the quarter ended December 31, 2025, compared to 5.24% in the previous quarter[40]. Growth and Trends - The Company reported a 3.78% increase in retained earnings from September 30, 2025, to $1,269,113,000, and an 8.22% increase year-over-year[28]. - The tangible common equity ratio is calculated by dividing tangible common equity by tangible assets, providing insight into capital adequacy compared to industry peers[23]. - The total assets of the company reached $24,912,896 thousand in 2025, up from $19,373,565 thousand in 2024, reflecting a growth of 28.7%[48]. - Tangible common equity increased to $2,341,542 thousand in 2025 from $1,995,764 thousand in 2024, a growth of 17.3%[48].

Financial Performance - Associated Banc-Corp reported record annual net income available to common equity of $463 million, or $2.77 per common share for 2025, compared to $112 million, or $0.72 per common share for 2024[1]. - The company achieved record net interest income of $1.2 billion, reflecting a 15% increase from 2024, with a net interest margin of 3.03%[12]. - Noninterest income for 2025 was $286 million, significantly impacted by nonrecurring items from a balance sheet repositioning[15]. - Full year 2025 noninterest expense was $856 million, a 5% increase from 2024, with personnel expenses rising by $34 million[20]. - Net income for Q4 2025 was $137,129,000, a turnaround from a loss of $161,615,000 in Q4 2024, with year-to-date net income of $474,777,000[35]. - Earnings per common share for Q4 2025 was $0.81, compared to a loss of $1.04 in Q4 2024, with year-to-date earnings of $2.79[35]. - The corporation's return on average tangible common equity (ROATCE) improved to 12.31% from previous periods, indicating enhanced profitability[56]. Loan and Deposit Growth - Total period end loans reached $31.2 billion, a 5% increase from 2024, while total period end deposits were $35.6 billion, up 3% from the previous year[4]. - The bank's loans increased by $211.7 million to $31.2 billion compared to the previous quarter, reflecting a year-over-year growth of $1.4 billion[33]. - Total deposits rose by $670.8 million to $35.6 billion, marking a significant increase of $904.2 million year-over-year[33]. - Total loans increased to $30.59 billion in 2025, up from $29.70 billion in 2024, reflecting a growth of 3.0%[40]. - Total deposits rose by 2% quarter-over-quarter to $35,552,608, compared to $34,881,853[42]. Credit Quality and Provision for Losses - The provision for credit losses for 2025 was $54 million, down from $85 million in the prior year, indicating improved credit quality[25]. - Provision for credit losses decreased by 59% to $6,998,000 in Q4 2025, resulting in a year-to-date reduction of 36% to $53,996,000[35]. - The provision for loan losses decreased significantly by 87% to $2,000 from $15,000 in the previous quarter[45]. - Nonaccrual loans decreased by 5% to $100,428 from 106,179 in the previous quarter[46]. - The allowance for credit losses on loans to total loans ratio remained stable at 1.35%[46]. Capital and Regulatory Ratios - The company's CET1 capital ratio stood at 10.49% as of December 31, 2025, exceeding Basel III regulatory benchmarks[26]. - Common equity Tier 1 capital ratio improved to 10.49% in Q4 2025, compared to 10.33% in Q4 2024, showing a 1.55% increase[48]. - Stockholders' equity increased by $107.0 million to $5.0 billion, reflecting strong capital management strategies[33]. - Total risk-weighted assets reached $35.13 billion as of December 31, 2025, up from $34.69 billion a year earlier, representing a 1.27% increase[48]. Future Expectations - For 2026, the company expects total period end loan growth of 5% to 6% and total deposit growth of 5% to 6%, excluding the impact of the acquisition of American National Corporation[6][11]. - The company anticipates total net interest income growth of 5.5% to 6.5% in 2026, excluding the acquisition impact[14]. - The expected annual effective tax rate for 2026 is projected to be between 19% and 21%[24]. Strategic Transactions - The company is actively pursuing a proposed transaction with American National Bank, which may impact future operations and financial performance[30]. - The corporation announced a definitive agreement to acquire American National, incurring nonrecurring costs associated with the acquisition[55]. Operational Efficiency - Management emphasizes the importance of non-GAAP financial measures to provide a clearer understanding of ongoing operations and earnings adequacy[31]. - The efficiency ratio improved to 56.29% in Q4 2025, down from 67.64% in Q4 2024, indicating a 16.67% improvement[48].

DIVIDEND DECLARED The Board of Directors of the Company voted to declare a cash dividend of $0.32 per share to shareholders of record at the close of business on February 20, 2026, payable on March 20, 2026. This dividend equates to a 4.12% annualized yield based on the $31.05 closing share price of the Company's common stock on December 31, 2025, the last trading day of the fourth quarter 2025. Exhibit 99.1 Graphic Bar Harbor Bankshares Reports Fourth Quarter 2025 Results; Declares Dividend BAR HARBOR, MAI ...