Core Insights - Safe Harbor Financial has closed a $1,500,000 secured credit facility for a Missouri-based cannabis operator, marking the second tranche of a $5,000,000 loan funding package aimed at refinancing senior debt across four retail dispensaries in Missouri [1][2] - The company emphasizes its commitment to providing competitive market interest rates and favorable loan terms, enabling cannabis businesses to manage debt effectively and focus on growth [2][3] - Safe Harbor Financial has facilitated over $25 billion in deposit transactions for cannabis-related businesses across more than 41 states and territories, showcasing its leadership in the cannabis financial services sector [4] Company Overview - Safe Harbor Financial is a fintech leader that provides financial services and credit facilities specifically tailored for the regulated cannabis industry [1][4] - The company offers compliance, monitoring, and validation services to financial institutions, ensuring accountability and transparency while meeting regulatory obligations [4] - Safe Harbor aims to expand access to capital for cannabis businesses, addressing the historical banking challenges faced by the industry [3][4]

Core Insights - Safe Harbor Financial has entered into a Letter Agreement with Partner Colorado Credit Union to temporarily pause principal payments due in February and March 2025, while discussing potential modifications to their Senior Secured Promissory Note [1][2] - The temporary pause is expected to improve Safe Harbor's liquidity by approximately $510,000 [2] - Safe Harbor has facilitated over $25 billion in deposit transactions for cannabis-related businesses across more than 41 states and U.S. territories over the past decade [2] Company Overview - Safe Harbor Financial is a fintech leader providing financial services and credit facilities to the regulated cannabis industry [1] - The company offers compliance, monitoring, and validation services to financial institutions, ensuring accountability and transparency in cannabis-related banking [2] - Safe Harbor aims to foster long-term partnerships and drive growth in local economies while adhering to Bank Secrecy Act obligations [2]

Core Viewpoint - Safe Harbor Financial announces the retirement of CEO Sundie Seefried in 30 days, with Terry Mendez appointed as co-CEO and set to become CEO upon Seefried's retirement, reflecting a strategic succession plan aimed at long-term growth and maximizing shareholder value [1][2][4]. Company Transition - Sundie Seefried will serve as co-CEO during the transition period and will remain on the Board of Directors post-retirement [2]. - Terry Mendez has signed a three-year executive employment agreement and will work closely with the leadership team to drive innovation and growth [3][4]. Leadership Experience - Terry Mendez brings extensive experience in strategic planning and operational transformation, having previously led turnaround efforts in the cannabis industry and served in senior roles at major firms [4]. Company Background - Safe Harbor is a pioneer in providing banking and financial services to the cannabis industry, having facilitated over $25 billion in deposit transactions across 41 states and territories over the past decade [5].

Core Insights - Safe Harbor Financial has achieved a significant milestone by processing over $25 billion in cannabis-related funds, marking its 10th anniversary and underscoring its leadership in the regulated cannabis financial services sector [1][4]. - The company has established itself as a pioneer in providing secure and compliant financial solutions tailored for the cannabis industry, serving clients across nearly 40 states and U.S. territories [2][4]. - Safe Harbor's commitment to compliance, transparency, and innovation has positioned it as a trusted partner for cannabis businesses, enabling them to operate confidently within a heavily regulated environment [3][4]. Company Overview - Founded in 2015, Safe Harbor Financial specializes in offering compliance, monitoring, and validation services to financial institutions, focusing on cannabis, hemp, CBD, and ancillary operators [4]. - The company implements high standards of accountability and risk mitigation measures while adhering to the Bank Secrecy Act and FinCEN guidance [4]. - Safe Harbor's robust suite of financial products has facilitated over $25 billion in deposit transactions, reflecting its strategic focus on scaling operations and expanding services [3][4].

Core Insights - Safe Harbor Financial has announced a four-year extension and modification of its commercial alliance agreement with Partner Colorado Credit Union, which eliminates a $1.2 million indemnity liability from its balance sheet as of September 30, 2024, effective January 1, 2025 [1][2] - The updated agreement simplifies business processes, aligns expenses with income, and reduces exposure to contingent liability on the loan portfolio, enhancing financial performance and shareholder value [2] Company Overview - Safe Harbor is a leading service provider offering compliance, monitoring, and validation services to financial institutions in the cannabis industry, facilitating traditional banking services for cannabis, hemp, CBD, and ancillary operators [3] - Over the past eight years, Safe Harbor has facilitated more than $23 billion in deposit transactions across 41 states and U.S. territories with regulated cannabis markets [3]

Financial Data and Key Metrics Changes - Net income increased by 147% year-over-year to $354,000 compared to a net loss of $748,000 for the same period last year [7] - Loan interest income rose by 48% year-over-year for the third quarter and by 143.5% for the nine months [7] - Total revenue for the third quarter decreased by 19.6% to $3.5 million from $4.3 million in the prior year [20] - Total revenue for the nine months decreased by 11.6% to $11.6 million from $13.1 million in the prior year [20] - Operating expenses decreased by 13% year-over-year for the third quarter and by 66% for the nine months [8][22] Business Line Data and Key Metrics Changes - Revenue from deposit activity and onboarding decreased by 26% to $1.6 million for the third quarter [20] - Investment income for the third quarter decreased by approximately 60% to $475,000 [21] - Loan interest income for the third quarter grew by 48% to $1.3 million [21] Market Data and Key Metrics Changes - The cannabis market is expected to reach $33.6 billion in 2024 with a CAGR growth rate of 12.1% from 2024 through 2030 [12] - 24 states have legalized adult-use cannabis and 38 states have legalized medicinal use, indicating a growing market [11] Company Strategy and Development Direction - The company is focusing on expanding its customer base and delivering best-in-class service while developing innovative offerings [19] - Safe Harbor is adapting its platform to meet the demands of cannabis-related businesses and is looking to acquire account portfolios from banks exiting the business [19] - The company is making competitive changes to attract incoming cannabis entities, including adjusting fees and offering competitive pricing [13] Management's Comments on Operating Environment and Future Outlook - Management noted headwinds in the cannabis sector, including pricing pressures and increased competition, but still managed to increase net income and cash flow [9] - The company is optimistic about the potential for cannabis industry growth following the recent elections and upcoming regulatory changes [16][18] - Management believes that reclassification of cannabis could strengthen the balance sheets of customers and improve the company's position in the market [18] Other Important Information - The company reported cash and cash equivalents of $5.9 million as of September 30, 2024, compared to $4.9 million at the end of 2023 [25] - The company expects full-year revenue for 2024 to be in the range of $15 million to $15.5 million [25] Q&A Session Summary - The call concluded without a detailed Q&A session, as the operator thanked participants and indicated the next update would be in March [26][27]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 001-40524 86-2409612 (Commission File Number) (IRS Employer Identification No.) Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Class A Common Stock, $0.0001 par value per shareSHFS The Nasdaq Stock Market LLC Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share SHFSW The Nasdaq Stock Market LLC FORM 8-K CURRENT REPORT Pursuant ...

--Net Income increased to $0.4 million in the third quarter of 2024 --Loan Interest Income increased 48% and 143.5% year-over-year for three and nine months ended September 30, 2024, respectively --Operating Expenses decreased 13.2% versus Q3 2023 and by 66.4% for the nine-month period in 2024 GOLDEN, Colo., Nov. 12, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ 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: 001-40524 SHF Holdings, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |---------------------------- ...

GOLDEN, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a/ Safe Harbor Financial ("Safe Harbor") (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced that it will report financial results for the third quarter of 2024 ended September 30, 2024 on Tuesday, November 12, 2024, after the close of the market. Safe Harbor will host a conference call and webcast at 4:30p.m. ET / 1:30p.m. PT on November 12, 2024, to dis ...