Real Estate Portfolio - As of December 31, 2025, the company owned 471 single-family rental properties, primarily located in Illinois and Maryland[35]. - The company targets middle-market multi-family apartment communities located in secondary and tertiary markets for its investments[37]. - The multi-family investment portfolio consists of credit-oriented investments, including preferred equity investments and cross-collateralized mezzanine lending investments[37]. - As of December 31, 2025, 100% of the company's Mezzanine Lending assets were structured as preferred equity investments[40]. - The company has consolidated its cross-collateralized mezzanine lending investment, owning approximately 27% common equity interest and $144.1 million of preferred equity interests in the entity[41]. Financial Performance - As of December 31, 2025, the company had approximately $12.6 billion in total assets, an increase from approximately $9.2 billion as of December 31, 2024[404]. - The investment securities portfolio included $8.8 billion in total investment securities as of December 31, 2025, compared to $5.7 billion as of December 31, 2024[405][407]. - The fair value of Agency RMBS increased to $6.6 billion as of December 31, 2025, from $3.1 billion as of December 31, 2024[406][407]. - The weighted average yield on investment securities was 5.82% as of December 31, 2025, compared to 5.94% as of December 31, 2024[406][407]. - The company reported a cumulative deficit of $1.41 billion as of December 31, 2025, an improvement from a deficit of $1.43 billion in 2024[461]. Leverage and Debt - The company's maximum leverage ratios are 15:1 for liquid Agency securities, between 1:1 and 4:1 for illiquid assets, and 8:1 for residential loans, with a target total debt leverage ratio not exceeding 6:1[45]. - The company’s recourse leverage ratio was approximately 5.0 to 1 as of December 31, 2025, and the portfolio recourse leverage ratio was approximately 4.7 to 1[46]. - The company had total contractual obligations of approximately $7.34 billion as of December 31, 2025, including projected interest payments[497]. - The company had $100.0 million in 2026 Senior Notes outstanding, bearing interest at 5.75% per year, maturing on April 30, 2026[477]. - The company had $60.0 million in 2029 Senior Notes outstanding, bearing interest at 9.125% per year, maturing on July 1, 2029[478]. Risk Management - The company employs derivative instruments, including interest rate swaps and TBAs, as part of its risk management strategy to manage exposure to interest rates and market conditions[52]. - The company primarily uses interest rate swaps to hedge variable cash flows associated with its variable-rate borrowings[54]. - The company utilizes model-based risk analysis to evaluate the sensitivity of its assets and liabilities to changes in interest rates and other market factors[58]. - The company may be required to enter into interest rate cap contracts related to variable-rate mortgages, impacting its liquidity[486]. Employee and Operations - As of December 31, 2025, the company had 221 full-time employees, with 160 (72%) directly engaged in operations[60]. - The company has adopted a Code of Business Conduct and Ethics applicable to its executive officers and employees[74]. - The company incurs significant ongoing costs to comply with various laws and regulations, although these have not had a material adverse effect on its business[62]. - The company’s operations are subject to supervision and regulation by governmental authorities, impacting lending activities and consumer protections[61]. Investment Strategy - The company may invest in other multi-family investments and structured investments based on market conditions while maintaining its REIT qualification[44]. - The company relies on exemptions from registration as an investment company under the Investment Company Act, requiring at least 55% of its assets to be qualifying real estate assets[67]. - The company has a preferred equity investment in a Consolidated VIE valued at $17,344 as of December 31, 2025, with a weighted average preferred return rate of 13.86%[440]. - The business purpose rental loan strategy accounted for $1.57 billion in fair value with a weighted average coupon of 7.05% as of December 31, 2025[418]. Cash Flow and Financing Activities - The company generated net cash flows from operating activities totaling $134.0 million during the year ended December 31, 2025[468]. - Net cash flows used in investing activities were $2.9 billion, primarily due to purchases of investment securities and residential loans[469]. - Net cash flows provided by financing activities were $2.8 billion, mainly from proceeds received from repurchase agreements and warehouse facilities[472]. - The company may utilize debt securities offerings as a source of liquidity, in addition to equity offerings[487]. Stockholder Equity and Repurchase Programs - The company's stockholders' equity increased to $1.43 billion as of December 31, 2025, compared to $1.39 billion in 2024, marking an increase of approximately 2.0%[461]. - The preferred stock repurchase program approved in March 2023 allows for repurchases of up to $100.0 million, with $97.6 million remaining available as of December 31, 2025[488]. - The common stock repurchase program was increased to $246.0 million in March 2023, with $188.2 million remaining available as of December 31, 2025[489]. - The company repurchased 231,200 shares of its common stock for a total cost of approximately $1.5 million, representing an average repurchase price of $6.50 per common share[489].

Business Operations and Strategy - The Company sold its industrial motors and generators businesses for $444.0 million on April 30, 2024, which represented the substantial majority of the Industrial Systems operating segment[24]. - The total purchase price for the acquisition of Altra was $5.1 billion, completed on March 27, 2023, which is expected to generate significant revenue and cost synergies[26]. - The Company operates in three segments: Automation & Motion Control, Industrial Powertrain Solutions, and Power Efficiency Solutions, each serving diverse markets[17]. - The Company plans to leverage its strong free cash flows to enhance growth and raise shareholder returns, maintaining a long track record of strong free cash flow generation[30]. - The Company aims to double its new product vitality in the medium term, focusing on serving secular growth markets and enhancing energy efficiency[23]. - The Company is focused on improving business durability by increasing the consistency of sales performance and targeting markets with secular growth tailwinds[23]. - The Company emphasizes innovation through research and development, targeting energy efficiency and smart product solutions to gain market share[34]. - The company is expanding into new markets, which requires significant investment and carries risks related to demand fluctuations and supply chain disruptions[99]. - The company plans to continue making acquisitions as part of its growth strategy, but successful integration and realization of anticipated benefits are uncertain[110]. Financial Performance - The company reported annual net sales of $5.9 billion for the year ended December 31, 2025, compared to $6.0 billion for the year ended December 31, 2024, reflecting a slight decrease[174]. - Net sales for 2025 were $5,934.5 million, a decrease of $99.3 million, or 1.6%, compared to 2024, primarily due to divestitures impacting sales by 2.8%[195]. - Gross profit for 2025 increased by $26.8 million, or 1.2%, driven by a $41.9 million increase in Industrial Powertrain Solutions and a $26.8 million increase in Power Efficiency Solutions[195]. - Operating expenses for 2025 totaled $1,537.0 million, a decrease of $24.0 million, or 1.5%, primarily due to the impact of divestitures[195]. - Cash flow provided by operating activities was $990.8 million in 2025, an increase of $381.4 million from 2024, driven by cash proceeds from the sale of receivables[203]. - Cash flow used in investing activities was $71.0 million in 2025, compared to cash flow provided by investing activities of $275.4 million in 2024, mainly due to proceeds from the sale of the industrial motors and generators businesses in 2024[205]. - Cash flow used in financing activities decreased to $814.1 million in 2025 from $1,095.8 million in 2024, with net debt repayments of $709.4 million in 2025, down by $228.9 million compared to 2024[207]. - The effective tax rate for 2025 was 20.3%, consistent with the effective tax rate for 2024 of 20.0%[199]. Workforce and Training - As of December 31, 2025, the company employed approximately 29,200 associates worldwide, with about 28,700 being full-time[42]. - In 2025, 99.6% of global employees completed training on the company's Code of Business Conduct and Ethics[46]. - The company has a structured annual goal-setting process for associates, linking performance to pay through evaluations and coaching[45]. - The company conducted a global associate engagement survey in 2025 and executed a robust action plan in response[47]. Environmental and Social Responsibility - The company aims to achieve carbon neutrality across its absolute Scope 1 and 2 emissions by 2032[49]. - The company is focused on innovation and product design to increase overall energy efficiency and reduce Scope 3 emissions associated with product use[49]. - The company allocated $1.1 million to charitable organizations across the US, Mexico, and Canada in 2025[48]. - The company has committed to achieving absolute Scope 1 and Scope 2 carbon emission neutrality by 2032 and aims for net zero across all scopes in the long term[80]. Risks and Challenges - The company is dependent on a limited number of suppliers for key materials, which may affect its business and results of operations[57]. - The volatility in prices and availability of raw materials such as steel, copper, and rare earth magnets may adversely affect gross margins[58]. - A significant portion of revenue is dependent on several key OEM customers and distributors, and any loss or reduction in purchases could materially affect the business[62]. - The company faces demand uncertainty as many orders are placed through purchase orders rather than long-term contracts, leading to unpredictable revenue patterns[63]. - The company relies on estimated demand forecasts, and inaccuracies in these forecasts could adversely affect revenue and financial condition[69]. - The introduction of evolving technologies, particularly in AI and machine learning, poses risks related to compliance, security, and competitive disadvantage[61]. - Climate change and related regulations could disrupt operations and increase costs, impacting the overall business strategy[76]. - The company is subject to various financial covenants that could limit its ability to borrow additional funds or take advantage of business opportunities[75]. - The company’s performance is vulnerable to general economic conditions, which could affect its ability to service debt and fund liquidity needs[72]. - The company is exposed to risks from commodity, currency, and interest rate fluctuations, which may adversely impact financial performance[117]. - Foreign currency fluctuations could affect revenues and operating costs, as net assets and earnings from foreign subsidiaries are translated into US Dollars[118]. - The company is subject to various tax laws and regulations, and claims from taxing authorities could adversely impact operating results and financial position[119]. - Required cash contributions to pension plans may increase, impacting cash available for other obligations and overall financial condition[120]. - The company faces significant pressure from customers to reduce costs, which could adversely affect gross margins if cost savings are not generated[100]. - Unfavorable changes in political and regulatory climates in countries where the company operates could materially affect its financial condition and cash flows[102]. - The company faces risks related to labor disputes, which could disrupt operations and increase labor costs if unionized workers engage in strikes or work stoppages[106]. - Integration costs and challenges from past and future acquisitions, such as the Altra Transaction, could adversely affect future results and the market price of the company's common stock[107][108]. Cybersecurity and Compliance - Operations are highly dependent on IT infrastructure, and any failures or breaches could significantly impact business operations and revenue[82]. - Cybersecurity threats are increasing, and the company may face unauthorized disclosures of information, leading to financial liability and reputational damage[83]. - The company has established a comprehensive cybersecurity program to manage risks and protect information systems[142][150]. - Cybersecurity threats have not materially affected the company to date, but the threat environment is increasingly challenging[153]. - The company is subject to various domestic and foreign laws regarding improper payments and data privacy, which could lead to civil or criminal penalties[132][133]. - Compliance with evolving data privacy laws, including GDPR, may increase operational costs and expose the company to significant fines for non-compliance[134]. - The company is subject to environmental laws that could impose significant costs and liabilities for non-compliance[136][138]. Corporate Governance and Financial Management - The company maintains a flexible global manufacturing presence, which aids in navigating geopolitical and supply chain disruptions[23]. - The company has approximately $4.8 billion in aggregate debt outstanding as of December 31, 2025, which includes debt from the Altra Transaction[73]. - The company has a share repurchase program authorized for up to $500 million, with $145 million remaining available as of December 31, 2025[164]. - The company did not repurchase any shares during 2025, but purchased 332,439 shares for $50 million in 2024[164]. - The company maintained a current ratio of 2.1:1 as of December 31, 2025, down from 2.3:1 in 2024, indicating a decrease in short-term liquidity[208]. - The company repatriated approximately $457.4 million of foreign cash in 2025 to support debt repayment, with $429.7 million of cash held by foreign subsidiaries available for domestic operations if needed[208]. - The company had no borrowings under the 2025 Term Facility as of December 31, 2025, but borrowed $850.0 million on February 12, 2026, to refinance the 2026 Senior Notes[210]. - The company had $1,500.0 million of available borrowing capacity under the 2025 Revolving Facility as of December 31, 2025, with a non-use fee applicable on the unused amount[211]. - The company plans to use cash generated from operations to fund interest obligations and reduce debt principal over time[213]. - The company had $1,100.0 million of 2026 Senior Notes maturing on February 16, 2026, which were refinanced through the 2025 Term Facility[212].

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 December 31, 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: 001-37352 Virtu Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0420206 (State or other jurisdiction ...

Financial Performance - Citigroup reported net income of $14.3 billion, or $6.99 per share, in 2025, compared to $12.7 billion, or $5.94 per share, in the prior year, reflecting a 12.6% increase in net income[37]. - Citigroup's net income for 2025 was $16.1 billion, or $7.97 per share, representing a 13% increase from the prior year[38]. - Citigroup's net income attributable to common shareholders increased to $14,306 million in 2025, compared to $12,682 million in 2024, marking a growth of 12.8%[68]. - Net income from continuing operations was $14.455 billion, reflecting a 13% increase compared to 2024, with notable growth in Banking and Wealth segments[90]. - Net income for 2025 reached $1.49 billion, representing a 49% increase compared to 2024[150]. - Net income increased by 124% to $3.1 billion[168]. - Net loss for 2025 was $4.5 billion, compared to a net loss of $2.4 billion in 2024, representing an increase of 83%[197]. Revenue Growth - Revenues for Citigroup in 2025 were $85.2 billion, a 6% increase year-over-year, driven by an 11% rise in net interest income[39]. - Total revenues, net of interest expense, rose to $85,225 million in 2025, up 5.6% from $80,722 million in 2024[68]. - Total revenues increased by 32% to $8.215 billion, driven by growth in Investment Banking and Corporate Lending[134]. - Total revenues increased by 14% to $8.56 billion, driven by growth in Citigold, the Private Bank, and Wealth at Work[151]. - Total revenues decreased by 41% to $4.4 billion in 2025, driven by lower revenues in Corporate/Other and Legacy Franchises[197]. Operational Metrics - Average loans increased by 5% to $716 billion in 2025, primarily due to growth in Markets, USPB, and Services[40]. - Average deposits rose by 4% to approximately $1.4 trillion, mainly driven by an increase in Services[41]. - Average loans across business lines increased to $93 billion, a 9% rise from the previous year, with TTS loans specifically growing by 10%[97]. - Average loans decreased to $82 billion, a 7% decline compared to 2024[130]. - Average mortgage loans increased by 14% to $49 billion[171]. Expenses and Provisions - Operating expenses were $55.1 billion, up 3% from the previous year, influenced by higher compensation and technology investments[42]. - Total operating expenses increased by 7% to $14.08 billion, primarily due to higher compensation and benefits[122]. - Provisions for credit losses were $10.3 billion, reflecting net credit losses of $9.1 billion, a 1% increase from the prior year[44]. - Provisions for credit losses were $720 million, reflecting a net ACL build of $636 million and net credit losses of $84 million[138]. - Provisions for credit losses were $1.5 billion, reflecting a 24% increase in net credit losses to $1.2 billion, driven by higher consumer lending volume[203]. Capital and Equity - The Common Equity Tier 1 (CET1) Capital ratio was 13.2% as of December 31, 2025, down from 13.6% the previous year[47]. - Citigroup's balance sheet overview indicates a strong capital position, supporting ongoing investments and strategic initiatives[14]. - Common equity increased by $1.5 billion, or 1%, to $14.3 billion, driven by $14.3 billion in net income and a $1.7 billion increase from the 25% Banamex equity interest sale[86]. - The company completed the sale of 25% of Banamex's outstanding common shares, increasing stockholders' equity by approximately $1.7 billion[182]. Strategic Initiatives - The company made significant progress on its strategic priorities in 2025 and early 2026, indicating improved business performance[37]. - Citigroup's transformation strategy aims to position the company as a leader in wealth management and a valued personal bank in the U.S.[10]. - The divestiture of Banamex remains a strategic priority, with plans for an IPO and additional private sales[180]. - The company has exited nine markets as part of its strategic refresh, including substantial wind-downs in China and Russia[194]. Market Presence - The company is focused on expanding its market presence in nearly 160 countries and jurisdictions, enhancing its global footprint[9]. - Citigroup's transformation-related expenses increased by 14% to approximately $3.3 billion in 2025, driven by investments in data and controls[56]. Efficiency Metrics - The efficiency ratio improved to 64.7% in 2025, down from 66.4% in 2024, indicating better cost management[71]. - The efficiency ratio improved to 51%, down from 54% in 2024, indicating better cost management[95]. - Efficiency ratio improved to 54%, down from 72% in the previous year[134]. - Efficiency ratio improved to 76%, down from 85% in the previous year[150].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the Fiscal Year Ended December 31, 2025 or o 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 001-35662 ___________________________________________ Washington, D.C. 20549 ___________________________________________ FORM 10-K ___________________________________________ x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange ...

Financial Position - As of December 31, 2025, the Company's total assets were $8.3 billion, total loans were $6.8 billion, total deposits were $7.4 billion, and stockholders' equity was $743.1 million[17]. - As of December 31, 2025, the Company had a total loan portfolio of $6.7 billion, with 98.6% consisting of commercial real estate (CRE) and commercial and industrial (C&I) loans[149]. - The Company's minimum required capital conservation buffer was at 2.5% of risk-weighted assets as of December 31, 2025[105]. - The capital standards require a common equity Tier 1 capital ratio of at least 4.5%, a Tier 1 capital ratio of at least 6%, and a total capital to risk-weighted assets ratio of at least 8%[102]. - The Company maintains a zero loss expectation for nearly all of its held-to-maturity (HTM) securities portfolio as of December 31, 2025[67]. Loan Portfolio and Industry Focus - The Company focuses on middle-market businesses with annual revenues of $5 million to $400 million and real estate entrepreneurs with a net worth of $50 million or more[20][24]. - At December 31, 2025, 43.1% of the Company's real estate loan portfolio, amounting to $2.5 billion, consisted of loans to the healthcare industry, primarily for nursing and residential care facilities[36]. - At December 31, 2025, $302.9 million, or 34.7% of the Company's C&I loan portfolio, was allocated to the healthcare industry, with $212.3 million, or 70.1%, specifically for nursing and residential care facilities[44]. - The Company intends to continue emphasizing CRE and C&I lending, which involves higher risks due to the dependence on the successful operation of the underlying properties or businesses[149]. - The Company is required to comply with heightened risk management practices for its CRE portfolio due to regulatory focus, which could impact loan originations and profitability[151]. Funding and Deposits - The Company has a diversified funding strategy, generating stable deposits through various services, including corporate cash management and tailored financial solutions for government entities[29]. - The Company generates deposits from various sources, including traditional commercial banking products and tailored financial solutions for government entities[71]. - The Company has established deposit concentration thresholds to minimize reliance on any single depositor base[71]. - The Company has developed a strong deposit franchise through long-standing client relationships and a commitment to tailored banking solutions[29]. Regulatory Environment - The Company is subject to extensive regulation and supervision by the NYDFS and FRB, with compliance requirements impacting its operations[86]. - The Company is required to file periodic reports and is subject to periodic examination by the NYDFS and FRB[121]. - The federal banking agencies have increased regulatory scrutiny of the BSA and anti-money laundering programs maintained by financial institutions[128]. - The Company is subject to the rules of Visa, Mastercard, and other payment networks, which could impose fines for non-compliance[131]. - Compliance with the Dodd-Frank Act has resulted in additional operating burdens that may adversely affect the Company's financial condition and growth prospects[211]. Operational Risks - The Company faces operational risks related to its reliance on technology systems, which are essential for processing transactions and managing business operations[173]. - Cybersecurity threats could lead to financial losses and damage to the company's reputation, despite ongoing investments in security measures[176]. - The Company maintains internal controls and insurance to mitigate operational risks, but failures could materially affect its business and financial results[184]. - The unexpected loss of key personnel could adversely affect the Company's business due to their skills and industry experience, potentially leading to increased compensation costs to retain employees[185][187]. Employee and Corporate Culture - As of December 31, 2025, the Company employed 326 full-time employees and 2 part-time employees, reflecting a net increase of 35 employees, or approximately 10.6% from the prior year[73]. - The Company has been recognized as a Great Place to Work-Certified®️ in 2025, reflecting its commitment to employee engagement and community service[79]. - The Company is focused on integrating talent and culture into its long-term corporate strategy to mitigate risk and create shareholder value[74]. Economic and Market Risks - A downturn in economic conditions could lead to higher loan delinquencies and charge-offs, adversely affecting net income and financial condition[160]. - The company's loan portfolio is significantly affected by local economic conditions, particularly in New York, which could increase rates of delinquencies and defaults[164]. - Changes in monetary policy by the Federal Reserve may adversely affect net interest income and profitability, with interest rates remaining elevated[165]. - Inflation risk may decrease the value of assets and increase non-interest expenses, negatively impacting the company's financial condition[159]. Strategic Initiatives - The Company plans to open a new banking center in West Palm Beach, Florida, in the second quarter of 2026, expanding its physical footprint[21]. - The Company aims to differentiate itself through excellent service, competitive products, and timely lending decisions, focusing on underserved markets[25]. - The Company aims to convert lending clients into full retail clients to expand its retail presence[49]. - The Company is making significant investments in digital infrastructure and information technology systems for its digital transformation, which could adversely impact its business if unsuccessful[182]. Compliance and Legal Matters - The Company exited the crypto-asset business in 2023 and the GPG BaaS business in 2024[47]. - The Company exited its GPG BaaS business in 2024 and recorded a $10 million regulatory reserve related to an investigation by the Attorney General of Washington[212]. - Legislative and regulatory changes may increase costs and impact the Company's ability to offer new products and services, affecting overall profitability[214].

Commission file number 001-34096 Dime Community Bancshares, Inc. (Exact name of registrant as specified in its charter) | New York | 11-2934195 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification number) | | 898 Veterans Memorial Highway, Suite 560, Hauppauge, NY | 11788 | | (Address of principal executive offices) | (Zip Code) | Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT P ...

Table of Contents 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 December 28, 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 1-15295 TELEDYNE TECHNOLOGIES INCORPORATED (Exact name of registrant as specified in its charter) Delaware 25-1843385 ( ...

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 December 31, 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 001-42436 MOUNTAIN LAKE ACQUISITION CORP. (Exact name of Registrant as specified in its Charter) Cayman Islands 98-1796213 (State or othe ...

FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December 31, 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 001-42436 MOUNTAIN LAKE ACQUISITION CORP. (Exact name of Registrant as specified in its Charter) Cayman Islands 98-1796213 (State or othe ...