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  • MIL-OSI USA: SCHUMER: STANDING AT ALTON’S RESTAURANT IN CHEEKTOWAGA WITH EGG & GROCERY PRICES RISING DUE TO BIRD FLU OUTBREAK CALLS ON FEDS TO SURGE ‘BIOSECURITY’ AND GET ALL HANDS ON DECK TO HELP FARMS CONTAIN…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Egg Prices Already Increased $2 Per Dozen In Last Two Months And Could Get Worse If New Admin Doesn’t Surge Efforts To Beat Bird Flu; Farmers Do Not Have Resources To Contain Bird Flu Alone, Says Feds Must Ramp Up Efforts NOW Before Prices Climb Higher
    With Millions Of Birds Impacted Last Month, And More Bird Flu Being Found In NY Just Last Week, Schumer Says Biosecurity And Increased Fed Response Is Key To Isolate & Contain Bird Flu And Lower Grocery Costs
    Schumer: With New Admin, We Can’t Afford To Scramble To Keep Bird Flu Mitigation Going—Or Egg & All Grocery Prices Could Surge
    Amid the increasing price of eggs in Western NY and across Upstate New York amid the bird flu outbreak, U.S. Senator Chuck Schumer today stood at Cheektowaga’s beloved Alton’s Restaurant and called on HHS and the USDA to surge funding and get all hands on deck for coordinated federal response to stop the spread causing sky-rocketing egg prices and lower costs for families, diners, and local bakeries.
    “Alton’s has been a staple in Western New York for over 40 years, but recently restaurants like Alton’s and families in Buffalo have been shell-shocked by higher egg and grocery prices. Egg prices are skyrocketing because of bird flu, driving costs up for families, farms, diners, and small businesses. In November, a dozen eggs cost about $4 in NY which is already high, but now the average is nearly $6, and with bird flu getting worse this problem could quickly spiral into a crisis,” said Senator Schumer. “Last year I secured millions to help contain this disease and we need the new administration to surge biosecurity efforts to beat back bird flu. We need a robust, coordinated federal response to crack down on bird flu and I am committed to working in a bipartisan way with the new administration to get grocery prices lower and that starts with getting a handle on bird flu. The health of our livestock, our restaurants, and Western NY families’ wallets depend on it.”
    For decades, Alton’s has been a beloved cornerstone of Western New York’s culinary scene, serving hearty Greek-American comfort food for breakfast, lunch, and dinner. Since opening its doors in 1982, the Cheektowaga-based restaurant, owned by Milton Koutsandreas, has built a loyal following with its warm atmosphere and home-cooked meals. However, like many local businesses across the region, Alton’s has felt the strain of rising costs, particularly the significant increase in egg prices. Just a few months ago they were able to get 30 dozen eggs for $50 a case, and now the diner is seeing prices climb to $180 a case.
    Some grocery stores are limiting the number of egg cartons consumers can purchase, and the price of eggs in New York State has increased from $4.23 in November to $6.10 as of January 10 according to the U.S. Department of Agriculture. Roughly 8% of egg supply has been affected by the avian flu nationwide, and experts say prices could increase an additional 20% in 2025 if the bird flu keeps spreading.
    Schumer added, “I’ll be pushing for more federal resources in the upcoming budget bill to stop the bird flu, and the feds need to continue prioritizing biosecurity, get all hands on deck for containing bird flu. This will give farmers the resources to isolate, sanitize, and purchase the protective equipment they need.”
    More than 20 million egg-laying chickens died last quarter because of bird flu, and last week Long Island’s last commercial duck farm was forced to kill thousands of ducks after health officials detected cases of bird flu, forcing the farm to cease operations. An outbreak in Georgia last week showed how the virus can spread, and Schumer highlighted the need for federal coordination to prevent further spread and support farms in New York and across the country. With infections across the country, there have been fewer eggs available, and decreased supply has led to increasing prices at grocery stores.
    “As a restaurant manager, I know firsthand how crucial affordable ingredients are to keeping our business running and our customers happy. Eggs are a staple in so many of the dishes we serve, and rising prices significantly affect our costs and prices – something we always try to avoid,” said Alton’s Restaurant General Manager Audrea Arricale. “I want to thank Senator Chuck Schumer for taking the issue of excessively high food costs seriously.”
    “Stable egg prices are critical for the success of Cheektowaga’s local businesses, especially restaurants and grocery stores, which are already navigating the challenges of inflation,” said Cheektowaga Chamber of Commerce President and CEO James Burns. “Senator Schumer’s push to strengthen biosecurity and support farmers in fighting bird flu is essential to keeping costs down for both businesses and families in our community.”
    “I thank Senator Schumer for standing up for basic, common sense public health efforts. As the COVID-19 pandemic showed, we need everyone, from global partners and academia to local health departments in the fight together against illnesses like H5N1 highly pathogenic avian flu, which is a looming threat to the public’s health, our economy and our food security,” said Erie County Executive Mark Poloncarz.
    “I thank Senator Schumer for his efforts to advance a practical solution to an issue that has a concrete impact on all of us. Resources are already in the federal budget and should be expended to address the issue,” said Cheektowaga Town Supervisor Brian Nowak.
    Schumer said that the federal government must invest in biosecurity efforts including isolation, sanitation, and more personal protective equipment (PPE). The senator called on the U.S. Department of Agriculture (USDA), U.S. Department of Health and Human Services (HHS), Centers for Disease Control and Prevention, and National Institutes of Health, among other federal agencies, to engage in a coordinated federal response to manage this bird flu outbreak. HHS invested $300+ million dollars before the new administration took office and the USDA has said that preparedness is the key to keeping Americans healthy and our country safe. Schumer said that as Congress continues to negotiate the Farm Bill, which regulates the federal budget for agricultural-related programs, the new Congress and the new administration must continue to prioritize investing in helping farms detect and contain bird flu.
    “The bottom-line here is that we do not want farmers, the feds, or consumers at the grocery store to scramble with this threat of bird flu sustaining into 2025. We want to try and keep grocery prices in check, and that means keeping the new Congress and the new administration laser-focused on ending this latest bird flu outbreak,” said Schumer.
    Under the Biden administration, the CDC made plans to award approximately $111 million in funding to enhance our ability to monitor the bird flu at the local, state and national levels, including $103 million to increase monitoring of individuals exposed to infected animals, testing, and outreach to high-risk populations (such as livestock workers) and $8 million to manufacture, store, and distribute influenza diagnostic test kits for virologic surveillance. The NIH made plans to award approximately $11 million in funding for additional research into potential medical countermeasures for the bird flu.

    MIL OSI USA News –

  • MIL-OSI USA: SCHUMER: STANDING AT ROCHESTER’S JINES RESTAURANT WITH EGG & GROCERY PRICES RISING DUE TO BIRD FLU OUTBREAK CALLS ON FEDS TO SURGE ‘BIOSECURITY’ AND GET ALL HANDS ON DECK TO HELP FARMS CONTAIN BIRD…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Schumer Says Egg Prices Already Increased $2 Per Dozen In Last Two Months And Could Get Worse If New Admin Doesn’t Surge Efforts To Beat Bird Flu; Farmers Do Not Have Resources To Contain Bird Flu Alone, Says Feds Must Ramp Up Efforts NOW Before Prices Climb Higher
    With Millions Of Birds Impacted Last Month, And More Bird Flu Being Found In NY Just Last Week, Schumer Says Biosecurity And Increased Fed Response Is Key To Isolate & Contain Bird Flu And Lower Grocery Costs
    Schumer: With New Admin, We Can’t Afford To Scramble To Keep Bird Flu Mitigation Going—Or Egg & All Grocery Prices Could Surge
    Amid the increasing price of eggs in the Rochester-Finger Lakes region and across Upstate New York, U.S. Senator Chuck Schumer today stood at Rochester’s beloved Jines Restaurant and called on HHS and the USDA to surge funding and get all hands on deck for coordinated federal response to stop the spread causing sky-rocketing egg prices and lower costs for families, diners, and local bakeries.
    “Everyone in Rochester has eaten at Jines at some point, but diners like Jines and families in Rochester have been shell-shocked by higher egg and grocery prices. Egg prices are skyrocketing because of bird flu, driving costs up for families, farms, diners, and small businesses. In November, a dozen eggs cost about $4 in NY which is already high, but now the average is nearly $6, and with bird flu getting worse this problem could quickly spiral into a crisis,” said Senator Schumer. “Last year I secured millions to help contain this disease and we need the new administration to surge biosecurity efforts to beat back bird flu. We need a robust, coordinated federal response to crack down on bird flu and I am committed to working in a bipartisan way with the new administration to get grocery prices lower and that starts with getting a handle on bird flu. The health of our livestock, our restaurants, and Rochester families’ wallets depend on it.”
    Jines Restaurant serves thousands of eggs per week, and says the cost of egg cases has increased at unprecedented rates since the start of the avian flu. The restaurant is used to a dozen eggs costing $1.50 a dozen, but now sees prices at $6.50 a dozen and above. With the price of eggs continuing to rise steeply in Rochester and across the country, local diners like Jines are being forced to decide between absorbing the costs and raising prices for customers.
    Some grocery stores are limiting the number of egg cartons consumers can purchase, and the price of eggs in New York State has increased from $4.23 in November to $6.10 as of January 10 according to the U.S. Department of Agriculture. Roughly 8% of egg supply has been affected by the avian flu nationwide, and experts say prices could increase an additional 20% in 2025 if the bird flu keeps spreading.
    Schumer added, “I’ll be pushing for more federal resources in the upcoming budget bill to stop the bird flu, and the feds need to continue prioritizing biosecurity, get all hands on deck for containing bird flu. This will give farmers the resources to isolate, sanitize, and purchase the protective equipment they need.”
    More than 20 million egg-laying chickens died last quarter because of bird flu, and last week Long Island’s last commercial duck farm was forced to kill thousands of ducks after health officials detected cases of bird flu, forcing the farm to cease operations. An outbreak in Georgia last week showed how the virus can spread, and Schumer highlighted the need for federal coordination to prevent further spread and support farms in New York and across the country. With infections across the country, there have been fewer eggs available, and decreased supply has led to increasing prices at grocery stores.
    Peter Gines, Jines Restaurant Owner said, “Eggs are used in nearly every dish that we serve and when you need thousands of eggs a week, every cost increase multiplies quickly.  As a small business owner, and on behalf of our employees and customers, we appreciate Senator Schumer’s attention to addressing this issue.”
    Schumer said that the federal government must invest in biosecurity efforts including isolation, sanitation, and more personal protective equipment (PPE). The senator called on the U.S. Department of Agriculture (USDA), U.S. Department of Health and Human Services (HHS), Centers for Disease Control and Prevention, and National Institutes of Health, among other federal agencies, to engage in a coordinated federal response to manage this bird flu outbreak. HHS invested $300+ million dollars before the new administration took office and the USDA has said that preparedness is the key to keeping Americans healthy and our country safe. Schumer said that as Congress continues to negotiate the Farm Bill, which regulates the federal budget for agricultural-related programs, the new Congress and the new administration must continue to prioritize investing in helping farms detect and contain bird flu.
    “The bottom-line here is that we do not want farmers, the feds, or consumers at the grocery store to scramble with this threat of bird flu sustaining into 2025. We want to try and keep grocery prices in check, and that means keeping the new Congress and the new administration laser-focused on ending this latest bird flu outbreak,” said Schumer.
    Under the Biden administration, the CDC made plans to award approximately $111 million in funding to enhance our ability to monitor the bird flu at the local, state and national levels, including $103 million to increase monitoring of individuals exposed to infected animals, testing, and outreach to high-risk populations (such as livestock workers) and $8 million to manufacture, store, and distribute influenza diagnostic test kits for virologic surveillance. The NIH made plans to award approximately $11 million in funding for additional research into potential medical countermeasures for the bird flu.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: AI sensors on fridges and kettles helping vulnerable people to live independently

    Source: United Kingdom – Executive Government & Departments 2

    Councils are leveraging AI and technology to enhance public services, save money, and improve living standards, aligning with government plans for £45 billion in efficiency savings under the Plan for Change.

    10 records of how local councils use AI to help local residents and save money.

    • From estimating budgets and improving care, to getting people new bins more quickly, new records reveal how councils are using AI and tech to help local residents and save money
    • Follows government announcing plans to put technology to work across public services, targeting £45 billion in efficiency savings
    • Innovations demonstrate the potential for AI and technology to improving public services and living standards, delivering on Plan for Change

    Local councils are picking up the AI mantle to help unleash this revolutionary technology across the UK – to turbocharge the Plan for Change and deliver a decade of national renewal.

    The latest transparency data – published by the Department for Science, Innovation and Technology (DSIT) – shows that councils are wasting no time in putting the weight of the public sector behind AI and finding new and innovative ways to make it work for working people.

    It shows that AI is being used to identify when a pensioner has had a fall, to stop people fall into rent arrears, to map which houses need loft insulation, to give people bigger bins, and – instead of taking people’s jobs – to help them find work in social care.

    The publication of records follows the Technology Secretary setting out a blueprint for how his department will help the public sector use technology to transform public services, targeting £45 billion in potential productivity savings.

    The plan will see a new team, housed in the Department for Science, Innovation and Technology (DSIT), cut across barriers to join up public services, including those provided by local councils, so people do not have to tell dozens of organisations the same thing.

    The team will first start by looking at services used by people with long term health conditions across organisations like the NHS, Department for Work and Pensions, local councils and more.

    As the digital centre of government, the Department for Science, Innovation and Technology (DSIT) will champion innovation, like that shown by the London Borough of Sutton, and help to spread it around the country so it can be used to improve public services and drive the Government’s Plan for Change.

    Speaking from a trip to see the Tech Enabled Care solution in Sutton, AI and Digital Government Minister Feryal Clark said:

    AI has immense potential to make our lives easier and improve public service. The technology we are together sharing with the public today includes shining examples of innovation that does everything from speeding up crucial applications for bigger bins, to helping people live independently.

    Being transparent with the detail of how we are putting AI to work in public services is crucial to our plans to use technology to improve public services, which is a key part of our Plan for Change.

    Other initiatives include AI-enabled fridge sensors and connected kettles are being used to detect changes in the daily routines of vulnerable people that could indicate a decline in health and ultimately lead to a fall, thanks to technology used by the London Borough of Sutton.

    Helping people who would otherwise need additional care, the technology uses sensors to spot changes in behaviour, like missed meals, a skipped cup of tea or whether a door has been left open for too long, before AI analysis is used to detect whether something might be wrong. An alert is then sent to close family members or carers so they can stop by to check on how they are and offer additional support if needed.

    Details of the technology, which was developed by Loughborough tech company The Access Group and Medequip Connect, have been released today alongside nine other public sector organisations setting out how they use AI and algorithmic tools. 

    Councillor Marian James, Lead Member for People Services at the London Borough of Sutton said:

    Research shows that people live well for longer when they can maintain their sense of independence and dignity by remaining in their own home. That’s why we are using the latest digital technology to enable our residents to continue living their lives independently within the comfort of their own home, but with the peace of mind that support is available when they need it. 

    The pressures facing our adult social care services show no sign of easing, so I’m proud the Council is taking this forward-thinking approach to find solutions that will reduce the pressure on the system, as well as being beneficial for our residents.

    Among the records published today, West Berkshire Council also shared how it is using technology to help residents get a bigger black bin more quickly, if they are eligible.

    A tool, built entirely in-house by the council, takes in information from an online application form, like the number of people living in a home, and the number of children in nappies, to automatically rule out people who might not be eligible for a bigger bin.

    Though, people whose applications are declined can still appeal the crucial decision, and have a human quickly look at their request. By speeding up the processing of requests, it makes sure families with newborns can get a bigger bin to handle the increased waste much more quickly.

    Other records published today detail chatbots used to help people apply for social care qualifications in Wales, and algorithmic tools to help councils more accurately predict the cost of adult care, so they can better manage their budgets.

    Minister of State for Care, Stephen Kinnock said:

    Around a third of adults over 65 will have at least one fall a year. This can be devastating and doesn’t just risk broken bones, but a loss of confidence and independence in older people.

    I am determined that we harness cutting-edge technology to protect them – and this groundbreaking AI will help to stop accidents before they happen and cut down on hospital visits.

    Our Plan for Change will drive forward this kind of innovation, transform the NHS, and ensure people can live safely and independently.

    Andy Sparkes, Managing Director, Local Government, The Access Group, said:

    We’re delighted to support Sutton Council’s ambitious approach to AI and technology-enabled care, which offers a personalised service that enables individuals to live independently for longer.

    AI and machine learning have the potential to enable all local authorities to shift their approach to care from the traditional reactive model to a more proactive approach that allows for early intervention. By scaling these proven examples of success, councils can reduce the pressure on current services and empower residents to remain in their homes for as long as possible.

    Notes to editors

    Full list of transparency records in this bundle.

    Dorset City Council

    Formulate for Adult Care – estimates financially sustainable personal budgets for adults with eligible care and support needs.

    Camden Council

    RentSense AI Tool Pilot – analyses council housing tenants’ rent transactions to prioritise arrears cases for management.

    Ealing Council

    Adult Social Care Annual Financial Expenditure Forecast – forecasts annual adult social care expenditure more accurately to make it easier for services to allocate budgets.

    Greater London Authority

    London Building Stock Model 2 – predicts missing information about London’s properties to help inform housing improvement programmes and decisions that reduce carbon emissions and energy bills.

    London Borough of Sutton

    Access Assure, Technology Enabled Care (TEC) – helps residents live independently by monitoring their data and alerting carers and family/friends where necessary.

    Social Care Wales

    Qualifications Chatbot – helps anyone with an interest in social care qualifications find appropriate qualification and information to work in the social care, early years, and childcare sector in Wales.

    Warwickshire County Council

    Domestic EPC Estimates – estimates domestic energy performance certificates (EPC) of households that have a missing EPC to help support better outcomes for citizens.

    West Berkshire Council

    Apply for a Larger Rubbish Bin – assesses whether applicants for a larger household waste container meet the minimum threshold set out in the council’s policy to provide a faster, improved service.

    London Borough of Barnet

    Ami Chatbot – a chatbot on the council’s website to provide better customer experience.

    Bristol City Council

    Not in Education, Employment, or Training (NEET) – assesses the risk of an individual becoming NEET to enable safeguarding professionals deliver timely and targeted interventions and support.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Readout: Foreign Secretary meeting with US Secretary of State

    Source: United Kingdom – Executive Government & Departments 3

    Foreign Secretary call with US Secretary of State Marco Rubio: 27 January 2025 

    Foreign Secretary David Lammy spoke with United States Secretary of State Marco Rubio today.  

    The Foreign Secretary congratulated Secretary Rubio on his appointment as Secretary of State and the pair discussed their shared links to the Caribbean, with the Foreign Secretary’s family ties to Guyana and Secretary Rubio’s family links to Cuba. 

    They both welcomed the opportunity for the UK and the US to work together in alignment to address on shared challenges including the situation in the Middle East, Russia’s illegal war in Ukraine, the challenges posed by China and the need for Indo-Pacific security.  

    The pair said they looked forward to working together and to meeting in person soon.

    Updates to this page

    Published 27 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Centre of Excellence to shape the future of disability employment

    Source: Ministers for Social Services

    The Albanese Labor Government is committed to an inclusive Australia where everybody has the opportunity for secure, fairly paid work – including people with disability.

    The unemployment rate for people with disability has remained stubbornly high for the past three decades and Labor has been acting to implement a range of changes to help shift this.

    To further assist, our Government has awarded $22.1 million to the Swinburne University of Technology and its consortium partners to realise our election commitment for a Disability Employment Centre of Excellence.

    The consortium includes representatives from peak disability and capacity building organisations, including Inclusion Australia, Family Advocacy, Disability Employment Australia, National Disability Services and the University of Melbourne.

    The Centre of Excellence will improve job outcomes for people with disability seeking to find and keep a job, by strengthening the capacity of employment service providers to deliver quality employment services and supports to people with disability and employers.

    Service providers will have centralised access to evidence-based best-practice resources developed by the Centre of Excellence. The resources will be specialised, innovative and drive quality practice.

    Minister for Social Services, Amanda Rishworth, said the Centre will bring together lived experience and expertise from across the disability community and beyond, including researchers, advocates, peak bodies, employers and service providers.

    “In order to deliver real change to disability employment in Australia, we need evidence of effective service approaches and what works to reduce the barriers preventing the participation of people with disability in the workforce,” Minister Rishworth said.

    “The Centre will collect and translate this evidence into best-practice resources to help support all employment service providers improve the services they deliver to people with disability and employers.

    “The establishment of the Centre of Excellence is a cornerstone of the Government’s package of reforms to disability employment, and it will help support the beginning of the new specialist disability employment program which commences this year,” Minister Rishworth said.

    Professor Karen Hapgood, Deputy Vice-Chancellor of Research at Swinburne University said the partnership will help shape a fairer, more inclusive future for disability employment.

    “Swinburne University of Technology is excited to work with the Commonwealth Government, our partners and stakeholders across the sector to lead change and increase the employment of people with disability in Australia,” Professor Hapgood said.

    “Our vision for the Centre of Excellence is to provide best-practice, evidence-based information that can bring people and technology together for a better world.

    “By harnessing the collective expertise, knowledge and resources of those with lived experience, their families, researchers, service providers, employers and industry bodies, we can help providers improve employment outcomes for people with disability.”

    The Centre of Excellence will commence in March 2025 and be funded for a period of four years to 2027-28.

    More information about the Centre of Excellence is available on the Department of Social Services website at www.dss.gov.au/disability-employment-reforms/disability-employment-centre-excellence

    MIL OSI News –

  • MIL-OSI USA: Landmarks Lit Yellow for Holocaust Remembrance Day

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    MIL OSI USA News –

  • MIL-OSI China: What to watch about China’s Spring Festival travel rush

    Source: People’s Republic of China – State Council News

    BEIJING, Jan. 24 — Chunyun, the world’s largest annual human migration, officially kicked off on Jan. 14 in China ahead of the Spring Festival. Authorities predict travel volumes will hit new highs during the 40-day travel rush.

    The latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, spotlighted key trends shaping this year’s travel season, including record-breaking travel numbers, booming tourism, transformative technologies, the rise of electric vehicles and a surge in inbound travel.

    TRAVEL PEAK

    The annual travel frenzy is driven by the movement of people working, studying or living far from their hometowns as they head back to celebrate China’s most important festival.

    It is estimated that 9 billion passenger trips will be made, with car journeys accounting for 80 percent. Railway trips are projected to surpass 510 million, while air passenger volume will likely exceed 90 million.

    Faced with such a massive travel demand, transportation systems are undergoing their annual tests. “Safety remains our top priority,” Wang Xiuchun, an official of the Ministry of Transport, said on the show.

    Rail and aviation authorities have deployed robust safety measures to ensure secure and efficient operations, including addressing weather-related challenges and improving risk prevention.

    TOURISM TAKING OFF

    While family reunions remained the primary reason for travel, tourism saw a notable surge this year.

    Wang predicted a 25-percent increase in travel for leisure purposes. Popular destinations include tropical hotspots like Hainan and Yunnan, as well as winter wonderlands in Heilongjiang, Jilin and Xinjiang, said Shang Kejia, an official of the Civil Aviation Administration of China.

    Local tourism authorities are seizing the opportunity to attract visitors with unique offerings. Guangzhou’s Flower City Square is holding a spectacular lantern festival, while Tianjin’s cruise market is already bustling with holiday travelers. Harbin, the host of the 9th Asian Winter Games, is blending winter sports with holiday festivities, a combination that is a real boost to the ice-and-snow economy.

    “The way people celebrate the Chinese Lunar New Year is becoming more diverse and enriched, reflecting changing travel habits,” said Shang.

    TECHNOLOGY RESHAPING TRAVEL

    Technology has also reshaped the Spring Festival migration. Online purchases now account for over 93 percent of railway ticket sales, said Zhu Wenzhong from China State Railway Group Co., Ltd.

    As of 9 a.m. Tuesday, 12306, the railway booking platform, had sold 235 million tickets since Dec. 31. Travelers no longer need paper tickets, as ID cards grant seamless access to trains. The app also offers a wide range of additional services like hotel bookings, car rentals and food delivery.

    Beyond ticketing, innovations like smart inspection robots, drone-assisted traffic monitoring, and highway ice warning systems are also helping ensure safer and smoother journeys.

    RISE OF ELECTRIC VEHICLES

    New energy vehicles (NEVs) are joining the chunyun in growing numbers.

    NEVs accounted for 15.9 percent of road trips during the National Day holiday in October last year, and their share is expected to rise further this Spring Festival, experts said.

    To meet the rising charging demand, the country has accelerated the construction of charging infrastructure. By the end of 2024, 98 percent of highway service areas had charging facilities, with 35,000 charging stations in place. “Aside from a few remote, high-altitude areas, nearly all service areas now offer charging options,” said Hua Lei, an official with the Ministry of Transport.

    In 2024, China’s NEV production and sales hit record highs, exceeding 12.8 million units, which solidified the country’s position as the global NEV leader for a tenth consecutive year.

    CHINA TRAVEL

    Another notable highlight this year is the surge in inbound tourism. According to preliminary statistics, ticket bookings for inbound flights during the chunyun period surged 47 percent year on year, Shang said.

    “China Travel” has become a trending topic, globally. In 2024, 64.88 million foreign visitors traveled to the country, an 82.9 percent increase from the previous year. In particular, visa-free entries involved 20.12 million visits, more than double that of 2023.

    China’s commitment to opening-up is driving this tourism boom.

    Expanded visa policies, such as mutual visa waivers with 25 countries, unilateral visa-free policies for 38 countries, and transit visa exemptions for 54 countries, are making it easier for tourists to explore China.

    Additionally, improvements in payment systems, accommodations and public transport also ensure foreign visitors can fully enjoy China’s cultural and technological charms, experts said.

    MIL OSI China News –

  • MIL-OSI China: Chinese medical team provides free health checkups to rural community in South Sudan

    Source: People’s Republic of China – State Council News

    Chinese medical team provides free health checkups to rural community in South Sudan

    JUBA, Jan. 27 — The 12th batch of the Chinese medical team recently visited Juba Nabari, a local village north of Juba, the capital of South Sudan, to provide free medical checkups and treatment to hundreds of ailing patients.

    Fauzia Lotombiko, a 50-year-old mother of eight, was one of several patients who braved the sweltering heat to seek treatment under a mango shed. The Chinese doctors provided Lotombiko with medication to regulate her blood pressure and relieve some back pain.

    Since 2014, Lotombiko has endured immense back pain after a fall, and her condition worsened when she was later diagnosed with high blood pressure. This condition has robbed her of the ability to do normal chores and forced her to stay at home.

    “The arrival of the Chinese doctors in my home village gave me hope of recovery. In addition to giving me essential medicines, they also gave me advice,” Lotombiko said Saturday.

    James Jada, 41, brought his daughter to the Chinese medical team. He said he had given up trying to find proper treatment for her severe flu and cough, which had been going on since last November.

    Jada said he was hopeful that his daughter’s condition would improve with the medication he was given to treat her. The doctors did a complete physical exam on Jada’s daughter before recommending the medication.

    “I thank the Chinese doctors for taking care of my daughter. I hope that my daughter’s condition will improve, and I believe that healing is not instantaneous, but a process,” said Jada.

    Pierina Abraham Norah, a 50-year-old woman who suffered from severe back and joint pain, was visited at home by Chinese doctors to assess her condition. She thanked the Chinese doctors for their compassion for the needy in her community.

    Natalie Kon Justine, Abraham’s son, who organized the arrival of the Chinese medical team to conduct outreaches in his village, commended them for reducing the burden of disease in his community.

    “This village has a good number of health clinics, but they are very expensive, and many citizens cannot easily afford the cost of treatment at these private health facilities around here,” Justine said. “This medical outreach has eased the burden of treatment for many families because the medicines provided by the Chinese doctors are effective.”

    Du Changyong, leader of the 12th batch of the Chinese medical team, said the visit to Juba Nabari was aimed at implementing the outcomes of the 2024 Beijing Summit of the Forum on China-Africa Cooperation and the program of “100 Medical Teams in 1,000 Villages” to provide medical services to people at the grassroots level.

    According to Du, the 12th batch of the Chinese medical team arrived in South Sudan in September 2024, and they have already served 6,300 outpatients, carried out 64 surgical operations, and treated 441 patients in critical condition. The team has also provided traditional Chinese medicine treatment to 1,200 patients, carried out laboratory tests on 850 patients, provided image testing to 800 patients, and introduced the new medical technology used at the Juba Teaching Hospital.

    In early December 2024, the 12th batch of the Chinese medical team provided medical outreach services to hundreds of patients in Lobonok town on the outskirts of Juba.

    MIL OSI China News –

  • MIL-OSI China: Local power supply bureau carries out inspection, maintenance work in Liupanshui, China’s Guizhou

    Source: People’s Republic of China – State Council News

    Local power supply bureau carries out inspection, maintenance work in Liupanshui, China’s Guizhou

    Updated: January 28, 2025 07:41 Xinhua
    Staff members of local power supply bureau check power lines in Liupanshui City, southwest China’s Guizhou Province, Jan. 26, 2025. In case of power disruption due to continuous snowfall, local power supply bureau carried out an urgent inspection and maintenance work to ensure the safe and stable operation of local power grid. [Photo/Xinhua]
    Staff members of local power supply bureau patrol in Liupanshui City, southwest China’s Guizhou Province, Jan. 26, 2025. [Photo/Xinhua]
    Staff members of local power supply bureau check power lines in Liupanshui City, southwest China’s Guizhou Province, Jan. 26, 2025. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 26, 2025 shows staff members of local power supply bureau on their way to a check point in Liupanshui City, southwest China’s Guizhou Province. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 26, 2025 shows staff members of local power supply bureau on their way to a check point in Liupanshui City, southwest China’s Guizhou Province. [Photo/Xinhua]
    Staff members of local power supply bureau patrol in Liupanshui City, southwest China’s Guizhou Province, Jan. 26, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI New Zealand: Second arrest over Middlemore firearms incident

    Source: New Zealand Police (National News)

    A second person has appeared in court over a firearms incident at Middlemore Hospital earlier this month.

    An investigation has been ongoing since 4 January, when a firearm was allegedly fired from a vehicle.

    Detective Inspector Shaun Vickers says the Counties Manukau Offender Prevention Team executed a search warrant late last week.

    “At a Manurewa address, a 23-year-old man was located by our staff and arrested,” he says.

    “The investigation team have laid a number of serious charges against this man.”

    He has been charged with committing a dangerous act with intent to cause grievous bodily harm, and commission of an offense with a firearm.

    The 23-year-old appeared in the Manukau District Court over the weekend and will reappear today.

    Two arrests have now been made in the investigation.

    Police are not ruling out further arrests or charges being made, Detective Inspector Vickers says.

    ENDS.

    Jarred Williamson/NZ Police
     

    MIL OSI New Zealand News –

  • MIL-OSI Australia: New data shows Albanese Labor Government’s early childhood education plan is working for families and educators

    Source: Australian Ministers for Education

    New data released today shows families across Australia have saved up to $2,768 since childcare subsidies came into effect in 2023, as the Albanese Labor Government shores up the early childhood education workforce and moves towards universal childcare.

    The data, provided by the Department of Education, shows an Australian family on an income of $120,000 a year paying the average quarterly fee for 30 hours childcare per week has saved approximately $2,768 since September 2023.

    This is real cost of living relief, going back into the pockets of Australian families.  

    This comes on top of new data released by Jobs and Skills Australia showing workforce vacancy rates in the early education and care sector have plummeted over the last 12 months, with internet vacancy rates down 22 per cent since December 2023.

    The decrease coincides with the Albanese Labor Government’s commitment last year to fund a 15 per cent wage increase over two years for ECEC workers.

    In addition, Goodstart, the biggest ECEC employer in Australia, says completed job applications have increased by 35 per cent year-on-year and expressions of interest are up 50-60 per cent.

    More than 50 per cent of services have now applied for Labor’s Worker Retention Payment.

    The Worker Retention Payment supports pay rises for up to 200,000 ECEC workers, recognising the important work they do and helping with cost-of-living pressures.

    Pay rises of 10 per cent above the award rate started hitting the pay packets of eligible ECEC workers in December, with a further 5 per cent increase due in December this year.

    The wage increase will support early education and care providers to give their employees a pay boost, helping to retain the existing workforce and attract new workers to the sector.

    We know Building Australia’s Future is about more than bricks and mortar. It’s about investing in people, in skills and education.

    That’s why the Albanese Labor Government is committed to establishing a $1 billion Building Early Education Fund from July 2025 and guaranteeing every child access to at least three days of high-quality early education as critical next steps to building a universal early education and care system.

    Quotes attributable to Minister for Education Jason Clare:

    “We have cut the cost of child care for more than 1 million families. The next step is fixing the pay of some of the most important workers in this country.

    “This shows our 15 per cent pay rise for early educators is working. Applications are up and job vacancies are down.

    “If we win the next election, we will build more centres where they are needed in the outer suburbs and the regions and guarantee every child who needs it three days of subsidised early education so they start school ready to learn.”

    Quotes attributable to Minister for Early Childhood Education Anne Aly:

    “Properly valuing the early childhood education and care workforce is crucial to attracting and retaining workers and vital to achieving the quality universal early learning sector Australian families deserve.

    “We’re boosting the wages of early childhood education workers, while relieving cost of living pressures on Australian families.

    “I urge all eligible early learning services to sign up to this important initiative, so their hardworking staff get the full benefit of this wage increase.”

    MIL OSI News –

  • MIL-OSI USA: New Report Highlights Transformational First Year of Colorado Universal Preschool, Reaching Nearly 70% of Eligible Four-Year-Olds

    Source: US State of Colorado

    DENVER — The Colorado Universal Preschool Annual Report, submitted to the Colorado Legislature as part of SMART Act requirements, highlights how the program’s inaugural year transformed early childhood education by providing high-quality, voluntary preschool to every child in the year before kindergarten. Read the report here. 

    “Free preschool is saving Colorado families an average of $6,100 every single year and helping our kids get the best possible start in life. This report shows that we are reaching the vast majority of young learners and we are committed to continue serving even more students,” said Governor Jared Polis. 

    In its first year, Colorado Universal Preschool served 43,479 children, reaching nearly 69% of the state’s eligible four-year-olds—a milestone that positions Colorado among the top states for preschool access nationwide. 

    “This success underscores Colorado’s commitment to children and families,” said Dr. Lisa Roy, Executive Director of CDEC. “Universal preschool is strengthening families and providing a solid foundation for our youngest learners to thrive.” 

    Key Wins for Colorado Families Enrolled in Colorado Universal Preschool in 2023-24:

    • Lowering Families’ Costs: The program saved families an average of $6,100 annually on preschool expenses, providing critical financial relief for other costs. 
    • Expanding Family Choice: With more than 1,900 providers statewide, families had the flexibility to choose from community-based, school-based, and home-based preschool settings. 
    • Serving Diverse Needs: Nearly 50% of children came from low-income households, with over 11,000 children also classified as being multilingual, experiencing ‘homelessness’, or having a disability. 
    • Strengthening the Sector: The program distributed $239.4 million to providers, enhancing sustainability and incentivizing sector growth. 

    “The impact of Colorado’s Universal Preschool program is profound,” said Michael Gaal, Superintendent of Colorado Springs School District 11. “District 11 is proud to be the largest provider of Universal Preschool serving more than 1000 preschoolers in El Paso County, with 31 of our 33 elementary schools offering the program. By investing in early childhood education, Colorado is setting the foundation for success. This program will not only benefit our students today, but its impact will continue to be felt for years to come.” 

    The report outlines ongoing challenges, including provider shortages in certain regions and workforce gaps. In response, the program has expanded full-day preschool (30 hours/week) for children in poverty and is launching a Provider Resource Bank to improve quality and accessibility statewide.

     “Colorado Universal Preschool is building a national model of excellence while addressing local needs,” Dr. Roy added. “We look forward to partnering with families, providers, and communities to create even greater opportunities for Colorado’s children.” 

    Apply Now for The 2025-26 School Year Submit an application by February 5, 2025 to be included in the first family-to-provider matching round. Learn more, explore preschool options, and apply online at UPK.Colorado.Gov. 

    Assistance is available: 

    💻Visit: Help.Upk.Colorado.Gov 

    📧Email: universalpreschool@state.co.us 

    📲Call: 303-866-5223 (Monday–Friday, 8 a.m.–8 p.m. MST). Interpreters available in 100+ languages.

    MIL OSI USA News –

  • MIL-OSI Security: Chief Engineer of Vessel Guilty of Obstruction and Violating Ship Pollution Prevention Laws Sentenced to 3 Months Imprisonment

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA – United States Attorney Duane A. Evans announced that FEI WANG “WANG,” age 38, pled guilty on January 24, 2025 to violating the Act to Prevent Pollution from Ships (APPS) and for obstructing proceedings, and was sentenced during the same proceeding to 3 months in prison, 3 years of supervised release and payment of a $200 mandatory special assessment fee.

    WANG, a Chinese national, was the Chief Engineer of the M/V ASL Singapore, a Chinese-owned bulk carrier registered in Liberia and engaged in trade in the United States. The ASL Singapore arrived in New Orleans on February 26, 2024.  The U.S. Coast Guard conducted an inspection, which included review of the vessel’s Oil Record Books.  In his plea, WANG acknowledged presenting these books to the Coast Guard knowing they contained fraudulent entries and omitted information about discharging oily bilge water directly overboard before arriving in the United States. The falsified logs were intended to conceal the fact that since at least October 2023, when WANG boarded the vessel, the crew had dumped oily bilge water overboard directly from the bilge holding tank and was not complying with international treaties regulating oil pollution from ships.

    According to court documents and statements, the crew used a portable pump and flexible hose—a so-called “magic pipe”—to dispose of oily bilge water in violation of MARPOL (the International Convention for the Prevention of Pollution from Ships), and without the use of the appropriate pollution prevention equipment and monitoring.  This was done prior to WANG  boarding the vessel and continued while he was Chief Engineer, in charge of all engine room operations.  The vessel’s Oily Water Separator was never properly used during WANG’s time as Chief Engineer.

    “Today’s sentencing highlights the commitment of the Coast Guard Investigative Service (CGIS) to hold individuals accountable for violations of MARPOL, particularly in cases involving the discharge of oily waste,” stated Damon J. Youmans, Special Agent in Charge, U.S. Department of Homeland Security, Coast Guard Investigative Service, Gulf Field Office. “CGIS will continue to collaborate with our partners from the Department of Justice’s Environmental Crimes Division, the U.S. Attorney’s Office, and the United States Coast Guard, Sector New Orleans to enforce environmental laws and investigate these offenses.”

    The Coast Guard Investigative Service and the EPA Criminal Investigations Division investigated the case with assistance from U.S. Coast Guard Sector New Orleans. Assistant U.S. Attorneys Christine M. Calogero of the General Crimes Unit, and G. Dall Kammer, Chief of the General Crimes Unit, are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Fort Pierce man sentenced to 20 years for production of child sexual abuse material

    Source: Office of United States Attorneys

    MIAMI – On Jan. 23, U.S. District Judge Robin L. Rosenberg sentenced Blaine Korbin Hulten, to 20 years imprisonment, followed by 25 years of supervised release for production of child sexual abuse material (CSAM).

    According to court record, Hulten, 24, of Fort Pierce, Fla., admitted to having sex with a 13-year-old minor and a 16-year-old minor, and to recording the sex act with the 16-year-old victim.  Corroborating his confession, his social media records contained conversations with both minor victims, as well as evidence that Hulten was aware both victims were under the age of 18.  Social media records also showed that Hulten distributed the recording of his 16-year-old victim using the social media platform.

    Acting U.S. Attorney Michael S. Davis for the Southern District of Florida, Acting Special Agent in Charge José R. Figueroa Homeland Security Investigations (HSI) Miami Field Office, and John Budensiek, Martin County Sheriff, made the announcement.

    HSI Fort Pierce and Martin County Sheriff’s Office investigated the case. Assistant United States Attorney Christopher Hudock prosecuted this case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse, launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.projectsafechildhood.gov.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov under case number 22-cr-14027.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Joplin Man Sentenced to Life in Prison for Kidnapping That Resulted in Torture, Death of Victim

    Source: Office of United States Attorneys

    SPRINGFIELD, Mo. – A Joplin, Mo., man was sentenced in federal court today for his role in a kidnapping conspiracy that resulted in the torture and death of the victim, as well as another conspiracy to kidnap a woman who was rescued from his attack at a Neosho, Mo., hotel room.

    Freddie Lewis Tilton, also known as “Ol’ Boy,” 52, of Joplin, Mo., was sentenced by U.S. District Judge M. Douglas Harpool to life in federal prison without parole.

    Tilton pleaded guilty on Sept. 19, 2023, to his role in a kidnapping conspiracy that resulted in the torture and death of the victim, as well as two counts of being a felon in possession of firearms. The court sentenced Tilton to one term of life in prison and two terms of 10 years in prison, to be served concurrently, in this case.

    In a separate case involving a second victim, Tilton was found guilty at trial on Sept. 17, 2024, of one count of conspiracy to commit kidnapping, one count of kidnapping, and one count of stalking. The court sentenced Tilton to two terms of 30 years in prison and one term of 10 years in prison, to be served concurrently to the sentence in the first case, for a total sentence of life in prison.

    Tilton pleaded guilty to participating in a conspiracy to kidnap the victim, identified as “M.H.,” in July 2020. Tilton is among six defendants who pleaded guilty and have been sentenced in this case. James B. Gibson, also known as “Gibby,” 42, of Neosho, was sentenced to 30 years in federal prison without parole. Lawrence William Vaughan, also known as “Scary Larry,” 53, of Neosho, was sentenced to 25 years in federal prison without parole. Amy Kay Thomas, 41, of Webb City, Mo., was sentenced to 20 years in federal prison without parole. Carla Jo Ward, 50, of Joplin, was sentenced to 10 years in federal prison without parole. Russell Eugene Hurtt, also known as “Uncle,” 53, of Greenwood, Mo., was sentenced to seven years in federal prison without parole.

    Tilton offered Ward and Vaughan $5,000 each to locate and secure M.H. for him. Ward picked up M.H., whom she knew was being sought by Tilton, and took him to Vaughan’s residence.

    Tilton, Thomas, and Gibson arrived at Vaughan’s residence in the early morning hours of July 15, 2020. They bound M.H.’s hands with handcuffs, and duct tape was placed around his mouth and other parts of his body. Gibson, Thomas, and others assaulted M.H. for a period of time. M.H. was cut, beaten, and shot at. Gibson burned M.H. with a blowtorch. Tilton fatally shot M.H. in the head. Thomas and others cleaned up the blood and damage created during the assault and shooting of M.H. They wrapped M.H.’s body in plastic wrap and Thomas, Tilton, and Gibson transported it to Hurtt’s property.

    Law enforcement officers executed a search warrant at Hurtt’s property on July 28, 2020, based on information that a deceased body was located on the acreage. When officers attempted to contact the occupants of the residence, Tilton fired multiple shots from inside the residence at the officers. Tilton was apprehended.

    Officers found M.H.’s body on the property. Officers searched the residence and found a Rigarmi .25-caliber pistol, an Ithaca .22-caliber rifle, a Remington .22-caliber rifle without a serial number, a Harrington and Richardson 12-gauge shotgun, a Ruger 9mm handgun, and a Taurus 9mm handgun without a serial number.

    Under federal law, it is illegal for anyone who has been convicted of a felony to be in possession of any firearm or ammunition. Tilton has two prior felony convictions for burglary, two prior felony convictions for larceny of an automobile, and prior felony convictions for stealing, possession of a controlled substance, burglary of an automobile, possession of a chemical with intent to manufacture, receiving stolen property, unlawful use of a weapon, theft and tampering.

    In a separate case that involved another kidnapping a few days after M.H.’s death, before Tilton was apprehended by law enforcement, Tilton and co-defendant Alvin Dale Boyer, 39, of Rogers, Arkansas, conspired to kidnap the second victim, identified in court documents as “S.T.” Boyer also was found guilty at trial on Sept. 17, 2024, of his role in the kidnapping conspiracy and one count of kidnapping and is scheduled to be sentenced on Feb. 25, 2025.

    An employee at Boonslick Lodge in Neosho called police at approximately 11:46 p.m. on July 19, 2020, to report that a woman was being choked and dragged into a room. A police officer knocked on the door of the room, and S.T., bloody and injured, opened the door and ran out of the room. Tilton jumped out the back window and escaped.

    Boyer had rented a room at the motel and invited S.T. to the motel to spend time with him.  Unknown to S.T., Boyer had rented the motel room for Tilton and Tilton was waiting in the room for her.  S.T. had an ex parte order of protection against Tilton. When S.T. entered the room, she was assaulted by Tilton.  S.T. was observed on video surveillance struggling to get out of the room, but she was dragged back in by Tilton.  Tilton struck S.T. repeatedly with a firearm and his fist.  Tilton attempted to shoot S.T., but the gun jammed.  S.T. was assaulted inside the room by Tilton for more than eight minutes before law enforcement arrived.

    Tilton escaped out of a window of the motel room with a handgun. Tilton attempted to climb down a vertical rain gutter, but fell to the ground as the guttering broke then ran away.

    Officers searched the motel room and found numerous indications that a violent, physical assault had taken place inside the room. In addition to blood on the room floor and door, officers found a chair with rope and zip ties attached, more nylon rope and zip ties, duct tape, a pair of pliers, a blowtorch and lighter fluid, a butane torch, drop cloths, plastic gloves, a Taurus 9mm handgun, and a Kimber .223-caliber semi-automatic rifle.

    S.T. was transported to a hospital for treatment of her injuries.

    These cases are being prosecuted by Assistant U.S. Attorney Ami Harshad Miller. They were investigated by the FBI, Newton County Sheriff’s Office, and the Neosho, Mo., Police Department.

    MIL Security OSI –

  • MIL-OSI Security: Rapid City Man Sentenced to 30 Years in Federal Prison for Conspiracy to Distribute a Controlled Substance Resulting in Death

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Karen E. Schreier has sentenced a Rapid City, South Dakota, man convicted of Conspiracy to Distribute a Controlled Substance Resulting in Death.

    Curtis Cummings, age 39, was sentenced to 30 years in federal prison, followed by five years of supervised release, restitution, and a $100 special assessment to the Federal Crime Victims Fund.

    Cummings was indicted by a federal grand jury in June 2023. He was found guilty following a three-day jury trial on November 7, 2024.

    The conviction arose from a conspiracy to distribute fentanyl operating in Rapid City, South Dakota. Cummings and his wife, Katey McGruder, obtained large amounts of fentanyl from a source in Colorado on a weekly basis. They would bring the fentanyl back to their Rapid City home where it was further distributed by Christina Sanchez and other conspirators. On April 26, 2022, Cummings and McGruder provided fentanyl to Sanchez, who provided the fentanyl to Wyatt Nygaard. Nygaard then provided the fentanyl to the victim who overdosed and died in the parking lot of a convenience store within minutes of ingesting the fentanyl.

    This case was investigated by the Unified Narcotics Enforcement Team (UNET). UNET is comprised of law enforcement from the Pennington County Sheriff’s Office, Rapid City Police Department, South Dakota Division of Criminal Investigation, South Dakota Highway Patrol, and the South Dakota National Guard.

    Assistant U.S. Attorneys Meghan Dilges and Edward Tarbay prosecuted the case. Nygaard was previously sentenced to over 23 years in federal prison. McGruder and Sanchez were previously sentenced to 20 years each of federal imprisonment.

    Cummings was immediately remanded to the custody of the U.S. Marshals Service following his sentencing.  

    MIL Security OSI –

  • MIL-OSI Security: Missouri Man Admits Transporting Minor for Sex

    Source: Office of United States Attorneys

    ST. LOUIS – A Missouri man has pleaded guilty and admitted transporting a minor across state lines for sex.

    Scott M. Arnold-Micke, 48, pleaded guilty to one count of transportation of a minor to engage in a criminal sex act. He admitted in his plea agreement that in 2021, he took the 17-year-old victim to Chicago, where they used drugs and engaged in sexual acts. Arnold-Micke met the victim that summer and began engaging in drug usage with the victim on an almost daily basis after Arnold-Micke moved from Sullivan, Missouri to Rolla, Missouri.

    Arnold-Micke is scheduled to be sentenced April 30. Both the U.S. Attorney’s office and Arnold-Micke’s lawyers have agreed to recommend 230 months in prison.

    The case was investigated by the FBI, the Rolla Police Department, and the Phelps County Sheriff’s Department.  Assistant U.S. Attorney Dianna Edwards is prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and the Department of Justice Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: Martin Woman Sentenced to Federal Prison for Stealing Funds from a Tribal Organization

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Karen E. Schreier has sentenced a Martin, South Dakota, woman convicted of Larceny. The sentencing took place on January 24, 2025.

    Madonna Peterson, age 59, was sentenced to 12 months and one day in federal prison, followed by one year of supervised release, and ordered to pay a $100 special assessment to the Federal Crime Victims Fund and $150,000 in restitution to Wild Horse Butte Community Development Corporation (WHB).

    Peterson was indicted on one count of Larceny and one count of Embezzlement and Theft from an Indian Tribal Organization by a federal grand jury in February 2023. She pleaded guilty on September 30, 2024.

    Between 2014 and July 2021, while employed as the Chief Financial Officer for the Wild Horse Butte Community Development Corporation, Peterson wrote herself checks she was not entitled to and submitted fraudulent reimbursement requests to WHB for travel that she did not take and for supplies that she did not purchase. Peterson then used the stolen funds for personal gain, including gambling at various casinos.

    This case was investigated by the FBI and the U.S. Department of Justice Office of the Inspector General. Assistant U.S. Attorney Benjamin Patterson prosecuted the case.

    Peterson was ordered to self-surrender on February 18, 2025, to begin serving her prison term.   

    MIL Security OSI –

  • MIL-OSI Security: North Dakota Man Sentenced to Federal Prison for 15 Years for Illegally Possessing a Firearm and Tampering with a Witness

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Karen E. Schreier has sentenced a Bismarck, North Dakota, man convicted of Possession of a Firearm by a Prohibited Person and Tampering with a Witness. The sentencing took place on January 24, 2025.

    Henry Damon Smith, Jr., 41, was sentenced to 15 years in federal prison, followed by five years of supervised release on the firearm charge, and three years in federal prison, followed by three years of supervised release on the tampering charge. The sentences were ordered to run concurrently. Smith was also ordered to pay a $200 special assessment to the Federal Crime Victims Fund.

    Smith was indicted for Possession of a Firearm by a Prohibited Person by a federal grand jury in December 2023. He pleaded guilty on November 4, 2024.

    The case stemmed from a Rapid City Police Department officer finding Smith with a firearm in Rapid City. Smith is federally prohibited from owning and possessing firearms because he has previous felony convictions, including crimes of domestic violence and assault on law enforcement. After being arrested, Smith attempted to avoid the charges by convincing a witness to claim responsibility for the firearm.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Rapid City Police Department. Assistant U.S. Attorney Anna Lindrooth prosecuted the case.

    Smith was immediately remanded to the custody of the U.S. Marshals Service.

     

    MIL Security OSI –

  • MIL-OSI: SOUTHERN MISSOURI BANCORP REPORTS PRELIMINARY RESULTS FOR SECOND QUARTER OF FISCAL 2025; DECLARES QUARTERLY DIVIDEND OF $0.23 PER COMMON SHARE; CONFERENCE CALL SCHEDULED FOR TUESDAY, JANUARY 28, AT 9:30 AM CENTRAL TIME

    Source: GlobeNewswire (MIL-OSI)

    Poplar Bluff, Missouri, Jan. 27, 2025 (GLOBE NEWSWIRE) —

    Southern Missouri Bancorp, Inc. (“Company”) (NASDAQ: SMBC), the parent corporation of Southern Bank (“Bank”), today announced preliminary net income for the second quarter of fiscal 2025 of $14.7 million, an increase of $2.5 million, or 20.2%, as compared to the same period of the prior fiscal year. The increase was attributable to increases in net interest income and noninterest income, partially offset by increases in noninterest expense, income taxes, and provision for credit losses. Preliminary net income was $1.30 per fully diluted common share for the second quarter of fiscal 2025, an increase of $0.23 as compared to the $1.07 per fully diluted common share reported for the same period of the prior fiscal year.

    Highlights for the second quarter of fiscal 2025:

    • Earnings per common share (diluted) were $1.30, up $0.23, or 21.5%, as compared to the same quarter a year ago, and up $0.20, or 18.2% from the first quarter of fiscal 2025, the linked quarter.
    • Annualized return on average assets (“ROAA”) was 1.21%, while annualized return on average common equity was 11.5%, as compared to 1.07% and 10.6%, respectively, in the same quarter a year ago, and 1.07% and 10.0%, respectively, in the first quarter of fiscal 2025, the linked quarter.
    • Net interest margin for the quarter was 3.36%, as compared to 3.25% reported for the year ago period, and 3.37% reported for the first quarter of fiscal 2025, the linked quarter. Net interest income increased $3.7 million, or 10.6% compared to the same quarter a year ago, and increased $1.5 million, or 4.0%, from the first quarter of fiscal 2025, the linked quarter.
    • Noninterest income was up 21.7% for the quarter, as compared to the same quarter a year ago, primarily as a result of losses realized on sale of available-for-sale (AFS) securities in the prior comparable quarter, and down 4.3% from the first quarter of fiscal 2025, the linked quarter.
    • Gross loan balances as of December 31, 2024, increased by $60.5 million, or 1.5%, as compared to September 30, 2024, and by $295.1 million, or 7.9%, as compared to December 31, 2023.
    • Cash equivalent balances as of December 31, 2024, increased by $70.5 million as compared to September 30, 2024, but decreased by $71.0 million as compared to December 31, 2023.
    • Deposit balances increased by $170.5 million, or 4.2%, as compared to September 30, 2024, and by $225.1 million, or 5.6%, as compared to December 31, 2023. The increase compared to the linked quarter was primarily due to seasonal inflows of deposits from agricultural and public unit depositors.
    • Tangible book value per share was $38.91, having increased by $4.26, or 12.3%, as compared to December 31, 2023.
    • The current period effective tax rate was 23.7%, as compared to 20.6% in the same quarter of the prior fiscal year. The effective tax rate for the December 31, 2024, quarter was elevated due a $380,000 adjustment of tax accruals attributable to completed merger activity.

    Dividend Declared:

    The Board of Directors, on January 21, 2025, declared a quarterly cash dividend on common stock of $0.23, payable February 28, 2025, to stockholders of record at the close of business on February 14, 2025, marking the 123rd consecutive quarterly dividend since the inception of the Company. The Board of Directors and management believe the payment of a quarterly cash dividend enhances stockholder value and demonstrates our commitment to and confidence in our future prospects.

    Conference Call:

    The Company will host a conference call to review the information provided in this press release on Tuesday, January 28, 2025, at 9:30 a.m., central time. The call will be available live to interested parties by calling 1-833-470-1428 in the United States and from all other locations. Participants should use participant access code 230612. Telephone playback will be available beginning one hour following the conclusion of the call through February 1, 2025. The playback may be accessed by dialing 1-866-813-9403, and using the conference passcode 279309.

    Balance Sheet Summary:

    The Company experienced balance sheet growth in the first six months of fiscal 2025, with total assets of $4.9 billion at December 31, 2024, reflecting an increase of $303.4 million, or 6.6%, as compared to June 30, 2024. Growth primarily reflected increases in net loans receivable, cash and cash equivalents, and AFS securities.

    Cash and cash equivalents were a combined $146.1 million at December 31, 2024, an increase of $84.7 million, or 137.9%, as compared to June 30, 2024. The increase was primarily the result of strong deposit generation that outpaced loan growth and AFS securities purchases during the period. AFS securities were $468.1 million at December 31, 2024, up $40.2 million, or 9.4%, as compared to June 30, 2024.

    Loans, net of the allowance for credit losses (ACL), were $4.0 billion at December 31, 2024, increasing by $175.0 million, or 4.6%, as compared to June 30, 2024. The Company noted growth primarily in drawn construction, 1-4 family residential, commercial and industrial, agricultural production loan draws, owner occupied commercial real estate, and agriculture real estate loan balances. This was somewhat offset by a decrease in loans secured by non-owner occupied commercial real estate, multi-family property, and consumer loans. The table below illustrates changes in loan balances by type over recent periods:

                                             
    Summary Loan Data as of:      Dec. 31,        Sep. 30,        June 30,        Mar. 31,        Dec. 31,  
       (dollars in thousands)   2024     2024     2024     2024     2023  
                                             
    1-4 residential real estate   $ 967,196     $ 942,916     $ 925,397     $ 903,371     $ 893,940  
    Non-owner occupied commercial real estate     882,484       903,678       899,770       898,911       863,426  
    Owner occupied commercial real estate     435,392       438,030       427,476       412,958       403,109  
    Multi-family real estate     376,081       371,177       384,564       417,106       380,632  
    Construction and land development     393,388       351,481       290,541       268,315       298,290  
    Agriculture real estate     239,912       239,787       232,520       233,853       238,093  
    Total loans secured by real estate     3,294,453       3,247,069       3,160,268       3,134,514       3,077,490  
                                             
    Commercial and industrial     484,799       457,018       450,147       436,093       443,532  
    Agriculture production     188,284       200,215       175,968       139,533       146,254  
    Consumer     56,017       58,735       59,671       56,506       57,771  
    All other loans     3,628       3,699       3,981       4,799       7,106  
    Total loans     4,027,181       3,966,736       3,850,035       3,771,445       3,732,153  
                                             
    Deferred loan fees, net     (202 )      (218 )     (232 )     (251 )     (263 )
    Gross loans     4,026,979       3,966,518       3,849,803       3,771,194       3,731,890  
    Allowance for credit losses     (54,740 )     (54,437 )     (52,516 )      (51,336 )     (50,084 )
    Net loans   $ 3,972,239     $ 3,912,081     $ 3,797,287     $ 3,719,858     $ 3,681,806  
       

    Loans anticipated to fund in the next 90 days totaled $172.5 million at December 31, 2024, as compared to $168.0 million at September 30, 2024, and $140.5 million at December 31, 2023.

    The Bank’s concentration in non-owner occupied commercial real estate, as defined for regulatory purposes, is estimated at 316.9% of Tier 1 capital and ACL at December 31, 2024, as compared to 317.5% as of June 30, 2024, with these loans representing 41.0% of gross loans at December 31, 2024. Multi-family residential real estate, hospitality (hotels/restaurants), care facilities, retail stand-alone, and strip centers are the most common collateral types within the non-owner occupied commercial real estate loan portfolio. The multi-family residential real estate loan portfolio commonly includes loans collateralized by properties currently in the low-income housing tax credit (LIHTC) program or that have exited the program. The hospitality and retail stand-alone segments include primarily franchised businesses; care facilities consisting mainly of skilled nursing and assisted living centers; and strip centers, which can be defined as non-mall shopping centers with a variety of tenants. Non-owner-occupied office property types included 33 loans totaling $24.2 million, or 0.60% of gross loans at December 31, 2024, none of which were adversely classified, and are generally comprised of smaller spaces with diverse tenants. The Company continues to monitor its commercial real estate concentration and the individual segments closely.

    Nonperforming loans (NPLs) were $8.3 million, or 0.21% of gross loans, at December 31, 2024, as compared to $6.7 million, or 0.17% of gross loans at June 30, 2024. Nonperforming assets (NPAs) were $10.8 million, or 0.22% of total assets, at December 31, 2024, as compared to $10.6 million, or 0.23% of total assets, at June 30, 2024. The rise in the total dollar of NPAs reflects an increase in NPLs, which was largely offset by a reduction in other real estate owned due to property sales. The increase in NPLs was primarily attributable to the addition of three unrelated loans collateralized by single-family residential property, totaling $1.4 million.

    Our ACL at December 31, 2024, totaled $54.7 million, representing 1.36% of gross loans and 659% of NPLs, as compared to an ACL of $52.5 million, representing 1.36% of gross loans and 786% of NPLs, at June 30, 2024. The Company has estimated its expected credit losses as of December 31, 2024, under ASC 326-20, and management believes the ACL as of that date was adequate based on that estimate. There remains, however, significant uncertainty as borrowers adjust to relatively high market interest rates, although the Federal Reserve has reduced short-term rates somewhat during this fiscal year. Qualitative adjustments in the Company’s ACL model were increased compared to June 30, 2024, due to various factors that are relevant to determining expected collectability of credit. The Company decreased the allowance attributable to classified hotel loans that have been slow to recover from the COVID-19 pandemic due to updated collateral appraisals, which provided a more favorable assessment than the Company’s prior period estimates. Additionally, provision for credit loss (PCL) was required due to loan growth in the second quarter of fiscal year 2025. As a percentage of average loans outstanding, the Company recorded net charge offs of 0.02% (annualized) during the current period, as compared to 0.10% for the same period of the prior fiscal year.

    Total liabilities were $4.4 billion at December 31, 2024, an increase of $279.7 million, or 6.8%, as compared to June 30, 2024.

    Deposits were $4.2 billion at December 31, 2024, an increase of $267.6 million, or 6.8%, as compared to June 30, 2024. The deposit portfolio saw year-to-date increases primarily in certificates of deposit and savings accounts, as customers continued to move balances into high yield savings accounts and special rate time deposits in the relatively high rate environment. Public unit balances totaled $565.9 million at December 31, 2024, a decrease of $28.7 million compared to June 30, 2024, but an increase of $55.4 million, as compared to $510.5 million at September 30, 2024. Public unit balances increased compared to September 30, 2024, the linked quarter, due to seasonal inflows, but decreased year-to-date due to the loss of a large local public unit depositor. Brokered deposits totaled $254.0 million at December 31, 2024, an increase of $80.3 million as compared to June 30, 2024, but a decrease of $19.1 million compared to September 30, 2024, the linked quarter. Year-to-date, the Company increased brokered deposits due to more attractive pricing for brokered certificates of deposit relative to local market rates and the need to meet seasonal loan demand, and to build on-balance sheet liquidity. The average loan-to-deposit ratio for the second quarter of fiscal 2025 was 96.4%, as compared to 96.3% for the quarter ended June 30, 2024, and 94.3% for the same period of the prior fiscal year. The loan-to-deposit ratio at period end December 31, 2024, was 95.6%. The table below illustrates changes in deposit balances by type over recent periods:

                                   
    Summary Deposit Data as of:      Dec. 31,      Sep. 30,      June 30,      Mar. 31,      Dec. 31,
    (dollars in thousands)   2024   2024   2024   2024   2023
                                   
    Non-interest bearing deposits   $ 514,199   $ 503,209   $ 514,107   $ 525,959   $ 534,194
    NOW accounts     1,211,402     1,128,917     1,239,663     1,300,358     1,304,371
    MMDAs – non-brokered     347,271     320,252     334,774     359,569     378,578
    Brokered MMDAs     3,018     12,058     2,025     10,084     20,560
    Savings accounts     573,291     556,030     517,084     455,212     372,824
    Total nonmaturity deposits     2,649,181     2,520,466     2,607,653     2,651,182     2,610,527
                                   
    Certificates of deposit – non-brokered     1,310,421     1,258,583     1,163,650     1,158,063     1,194,993
    Brokered certificates of deposit     251,025     261,093     171,756     176,867     179,980
    Total certificates of deposit     1,561,446     1,519,676     1,335,406     1,334,930     1,374,973
                                   
    Total deposits   $ 4,210,627   $ 4,040,142   $ 3,943,059   $ 3,986,112   $ 3,985,500
                                   
    Public unit nonmaturity accounts   $ 482,406   $ 447,638   $ 541,445   $ 572,631   $ 544,873
    Public unit certificates of deposit     83,506     62,882     53,144     51,834     49,237
    Total public unit deposits   $ 565,912   $ 510,520   $ 594,589   $ 624,465   $ 594,110
     

    FHLB advances were $107.1 million at December 31, 2024, an increase of $5.0 million, or 4.9%, as compared to June 30, 2024.

    The Company’s stockholders’ equity was $512.4 million at December 31, 2024, an increase of $23.6 million, or 4.8%, as compared to June 30, 2024. The increase was attributable primarily to earnings retained after cash dividends paid, in combination with a $1.0 million reduction in accumulated other comprehensive losses (AOCL) as the market value of the Company’s investments appreciated due to the decrease in market interest rates. The AOCL totaled $16.4 million at December 31, 2024 compared $17.5 million at June 30, 2024. The Company does not hold any securities classified as held-to-maturity.

    Quarterly Income Statement Summary:

    The Company’s net interest income for the three-month period ended December 31, 2024, was $38.1 million, an increase of $3.7 million, or 10.6%, as compared to the same period of the prior fiscal year. The increase was attributable to a 6.7% increase in the average balance of interest-earning assets and an 11-basis point increase in the net interest margin, from 3.25% to 3.36%, as the 32-basis point increase in the yield on interest-earning assets was partially offset by a 22-basis point increase in cost of interest-bearing liabilities.

    Loan discount accretion and deposit premium amortization related to the May 2020 acquisition of Central Federal Savings & Loan Association, the February 2022 merger of FortuneBank, and the January 2023 acquisition of Citizens Bank & Trust resulted in $987,000 in net interest income for the three-month period ended December 31, 2024, as compared to $1.5 million in net interest income for the same period a year ago. Combined, this component of net interest income contributed nine basis points to net interest margin in the three-month period ended December 31, 2024, compared to 14 basis points during the same period of the prior fiscal year, and as compared to a nine basis point contribution in the linked quarter, ended September 30, 2024, when the net interest margin was 3.37%.

    The Company recorded a PCL of $932,000 in the three-month period ended December 31, 2024, as compared to a PCL of $900,000 in the same period of the prior fiscal year. The current period PCL was the result of a $501,000 provision attributable to the ACL for loan balances outstanding and a $431,000 provision attributable to the allowance for off-balance sheet credit exposures.

    The Company’s noninterest income for the three-month period ended December 31, 2024, was $6.9 million, an increase of $1.2 million, or 21.7%, as compared to the same period of the prior fiscal year. The increase was primarily attributable to the Company’s realization of a $682,000 loss on sale of AFS securities in the year-ago period, as well as increases in deposit account charges and related fees, other loan fees, and wealth management fees. These increases were partially offset by lower net realized gains on sale of loans, which were primarily driven by a reduction in gains on sale of Small Business Administration (SBA) loans, and lower loan late charges.

    Noninterest expense for the three-month period ended December 31, 2024, was $24.9 million, an increase of $1.0 million, or 4.3%, as compared to the same period of the prior fiscal year. The increase was attributable primarily to increases in compensation and benefits, legal and professional fees, other noninterest expense, and occupancy expenses. The increase in compensation and benefits expense was primarily due to a trend increase in employee headcount, as well as annual merit increases. Legal and professional fees were elevated due to consulting fees tied to internal projects, recruiter costs, and the settlement of a legal matter. Other noninterest expense increased due to increased expenses associated with SBA loans and costs for employee travel and training. Lastly, occupancy and equipment expenses increased primarily due to depreciation on recent capitalized expenditures, including buildings, equipment, and signage. Partially offsetting these increases from the prior year period are lower data processing and telecommunication expenses, and a reduction in intangible amortization, as the core deposit intangible recognized in an older merger was fully amortized in the prior quarter.

    The efficiency ratio for the three-month period ended December 31, 2024, was 55.3%, as compared to 58.5% in the same period of the prior fiscal year. The change was attributable to net interest income and noninterest income growing faster than operating expenses.

    The income tax provision for the three-month period ended December 31, 2024, was $4.5 million, an increase of $1.4 million, or 43.3%, as compared to the same period of the prior fiscal year. The current period effective tax rate was 23.7%, as compared to 20.6% in the same quarter of the prior fiscal year. The effective tax rate for the December 31, 2024, quarter was elevated due to an adjustment of tax accruals attributable to completed merger & acquisition activity.

    Forward-Looking Information:

    Except for the historical information contained herein, the matters discussed in this press release may be deemed to be forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from the forward-looking statements, including: potential adverse impacts to the economic conditions in the Company’s local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, expected cost savings, synergies and other benefits from our merger and acquisition activities might not be realized to the extent expected, within the anticipated time frames, or at all, and costs or difficulties relating to integration matters, including but not limited to customer and employee retention and labor shortages, might be greater than expected and goodwill impairment charges might be incurred; the strength of the United States economy in general and the strength of local economies in which we conduct operations; fluctuations in interest rates and the possibility of a recession; monetary and fiscal policies of the FRB and the U.S. Government and other governmental initiatives affecting the financial services industry; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors’ products and services; fluctuations in real estate values in both residential and commercial real estate markets, as well as agricultural business conditions; demand for loans and deposits; legislative or regulatory changes that adversely affect our business; changes in accounting principles, policies, or guidelines; results of regulatory examinations, including the possibility that a regulator may, among other things, require an increase in our reserve for credit losses or write-down of assets; the impact of technological changes; and our success at managing the risks involved in the foregoing. Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed might not occur, and you should not put undue reliance on any forward-looking statements.

    Southern Missouri Bancorp, Inc.
    UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION
     
                                     
    Summary Balance Sheet Data as of:      Dec. 31,      Sep. 30,      June 30,      Mar. 31,      Dec. 31,  
    (dollars in thousands, except per share data)   2024   2024   2024   2024   2023  
                                     
    Cash equivalents and time deposits   $ 146,078   $ 75,591   $ 61,395   $ 168,763   $ 217,090  
    Available for sale (AFS) securities     468,060     420,209     427,903     433,689     417,406  
    FHLB/FRB membership stock     18,099     18,064     17,802     17,734     18,023  
    Loans receivable, gross     4,026,979     3,966,518     3,849,803     3,771,194     3,731,890  
    Allowance for credit losses     54,740     54,437     52,516     51,336     50,084  
    Loans receivable, net     3,972,239     3,912,081     3,797,287     3,719,858     3,681,806  
    Bank-owned life insurance     74,643     74,119     73,601     73,101     72,618  
    Intangible assets     75,399     76,340     77,232     78,049     79,088  
    Premises and equipment     96,418     96,087     95,952     95,801     94,519  
    Other assets     56,738     56,709     53,144     59,997     62,952  
    Total assets   $ 4,907,674   $ 4,729,200   $ 4,604,316   $ 4,646,992   $ 4,643,502  
                                     
    Interest-bearing deposits   $ 3,696,428   $ 3,536,933   $ 3,428,952   $ 3,437,420   $ 3,451,306  
    Noninterest-bearing deposits     514,199     503,209     514,107     548,692     534,194  
    Securities sold under agreements to repurchase     15,000     15,000     9,398     9,398     9,398  
    FHLB advances     107,070     107,069     102,050     102,043     113,036  
    Other liabilities     39,424     38,191     37,905     46,712     42,256  
    Subordinated debt     23,182     23,169     23,156     23,143     23,130  
    Total liabilities     4,395,303     4,223,571     4,115,568     4,167,408     4,173,320  
                                     
    Total stockholders’ equity     512,371     505,629     488,748     479,584     470,182  
                                     
    Total liabilities and stockholders’ equity   $ 4,907,674   $ 4,729,200   $ 4,604,316   $ 4,646,992   $ 4,643,502  
                                     
    Equity to assets ratio     10.44 %     10.69 %     10.61 %     10.32 %     10.13 %
                                     
    Common shares outstanding     11,277,167     11,277,167     11,277,737     11,366,094     11,336,462  
    Less: Restricted common shares not vested     46,653     56,553     57,956     57,956     49,676  
    Common shares for book value determination     11,230,514     11,220,614     11,219,781     11,308,138     11,286,786  
                                     
    Book value per common share   $ 45.62   $ 45.06   $ 43.56   $ 42.41   $ 41.66  
    Less: Intangible assets per common share     6.71     6.80     6.88     6.90     7.01  
    Tangible book value per common share (1)     38.91     38.26     36.68     35.51     34.65  
    Closing market price     57.37     56.49     45.01     43.71     53.39  
                                     

    (1)   Non-GAAP financial measure.

                                     
    Nonperforming asset data as of:      Dec. 31,      Sep. 30,      June 30,      Mar. 31,      Dec. 31,  
    (dollars in thousands)   2024   2024   2024   2024   2023  
                                     
    Nonaccrual loans   $ 8,309   $ 8,206   $ 6,680   $ 7,329   $ 5,922  
    Accruing loans 90 days or more past due     —     —     —     81     —  
    Total nonperforming loans     8,309     8,206     6,680     7,410     5,922  
    Other real estate owned (OREO)     2,423     3,842     3,865     3,791     3,814  
    Personal property repossessed     37     21     23     60     40  
    Total nonperforming assets   $ 10,769   $ 12,069   $ 10,568   $ 11,261   $ 9,776  
                                     
    Total nonperforming assets to total assets     0.22 %     0.26 %     0.23 %     0.24 %     0.21 %  
    Total nonperforming loans to gross loans     0.21 %     0.21 %     0.17 %     0.20 %     0.16 %  
    Allowance for credit losses to nonperforming loans     658.80 %     663.38 %     786.17 %     692.79 %     845.73 %  
    Allowance for credit losses to gross loans     1.36 %     1.37 %     1.36 %     1.36 %     1.34 %  
                                     
    Performing modifications to borrowers experiencing financial difficulty   $ 24,083   $ 24,340   $ 24,602   $ 24,848   $ 24,237  
                                     
                                   
        For the three-month period ended
    Quarterly Summary Income Statement Data:   Dec. 31,      Sep. 30,      June 30,      Mar. 31,      Dec. 31,
    (dollars in thousands, except per share data)      2024   2024   2024   2024   2023
                                   
    Interest income:                                   
    Cash equivalents   $ 784   $ 78   $ 541   $ 2,587   $ 1,178
    AFS securities and membership stock     5,558     5,547     5,677     5,486     5,261
    Loans receivable     63,082     61,753     58,449     55,952     55,137
    Total interest income     69,424     67,378     64,667     64,025     61,576
    Interest expense:                              
    Deposits     29,538     28,796     27,999     27,893     25,445
    Securities sold under agreements to repurchase     226     160     125     128     126
    FHLB advances     1,099     1,326     1,015     1,060     1,079
    Subordinated debt     418     435     433     435     440
    Total interest expense     31,281     30,717     29,572     29,516     27,090
    Net interest income     38,143     36,661     35,095     34,509     34,486
    Provision for credit losses     932     2,159     900     900     900
    Noninterest income:                              
    Deposit account charges and related fees     2,237     2,184     1,978     1,847     1,784
    Bank card interchange income     1,301     1,499     1,770     1,301     1,329
    Loan late charges     —     —     170     150     146
    Loan servicing fees     232     286     494     267     285
    Other loan fees     944     1,063     617     757     644
    Net realized gains on sale of loans     133     361     97     99     304
    Net realized losses on sale of AFS securities     —     —     —     (807     (682
    Earnings on bank owned life insurance     522     517     498     483     472
    Insurance brokerage commissions     300     287     331     312     310
    Wealth management fees     843     730     838     866     668
    Other noninterest income     353     247     974     309     380
    Total noninterest income     6,865     7,174     7,767     5,584     5,640
    Noninterest expense:                              
    Compensation and benefits     13,737     14,397     13,894     13,750     12,961
    Occupancy and equipment, net     3,585     3,689     3,790     3,623     3,478
    Data processing expense     2,224     2,171     1,929     2,349     2,382
    Telecommunications expense     354     428     468     464     465
    Deposit insurance premiums     588     472     638     677     598
    Legal and professional fees     619     1,208     516     412     387
    Advertising     442     546     640     622     392
    Postage and office supplies     283     306     308     344     283
    Intangible amortization     897     897     1,018     1,018     1,018
    Foreclosed property expenses     73     12     52     60     44
    Other noninterest expense     2,074     1,715     1,749     1,730     1,852
    Total noninterest expense     24,876     25,841     25,002     25,049     23,860
    Net income before income taxes     19,200     15,835     16,960     14,144     15,366
    Income taxes     4,547     3,377     3,430     2,837     3,173
    Net income     14,653     12,458     13,530     11,307     12,193
    Less: Distributed and undistributed earnings allocated                              
    to participating securities     61     62     69     58     53
    Net income available to common shareholders   $ 14,592   $ 12,396   $ 13,461   $ 11,249   $ 12,140
                                   
    Basic earnings per common share   $ 1.30   $ 1.10   $ 1.19   $ 1.00   $ 1.08
    Diluted earnings per common share     1.30     1.10     1.19     0.99     1.07
    Dividends per common share     0.23     0.23     0.21     0.21     0.21
    Average common shares outstanding:                              
    Basic     11,231,000     11,221,000     11,276,000     11,302,000     11,287,000
    Diluted     11,260,000     11,240,000     11,283,000     11,313,000     11,301,000
                                   
                                     
        For the three-month period ended  
    Quarterly Average Balance Sheet Data:   Dec. 31,      Sep. 30,      June 30,      Mar. 31,      Dec. 31,  
    (dollars in thousands)      2024   2024   2024   2024   2023  
                                     
    Interest-bearing cash equivalents   $ 64,976   $ 5,547   $ 39,432   $ 182,427   $ 89,123  
    AFS securities and membership stock     479,633     460,187     476,198     472,904     468,498  
    Loans receivable, gross     3,989,643     3,889,740     3,809,209     3,726,631     3,691,586  
    Total interest-earning assets     4,534,252     4,355,474     4,324,839     4,381,962     4,249,207  
    Other assets     291,217     283,056     285,956     291,591     301,415  
    Total assets   $ 4,825,469   $ 4,638,530   $ 4,610,795   $ 4,673,553   $ 4,550,622  
                                     
    Interest-bearing deposits   $ 3,615,767   $ 3,416,752   $ 3,417,360   $ 3,488,104   $ 3,341,221  
    Securities sold under agreements to repurchase     15,000     12,321     9,398     9,398     9,398  
    FHLB advances     107,054     123,723     102,757     111,830     113,519  
    Subordinated debt     23,175     23,162     23,149     23,137     23,124  
    Total interest-bearing liabilities     3,760,996     3,575,958     3,552,664     3,632,469     3,487,262  
    Noninterest-bearing deposits     524,878     531,946     539,637     532,075     572,101  
    Other noninterest-bearing liabilities     31,442     33,737     35,198     33,902     31,807  
    Total liabilities     4,317,316     4,141,641     4,127,499     4,198,446     4,091,170  
                                     
    Total stockholders’ equity     508,153     496,889     483,296     475,107     459,452  
                                     
    Total liabilities and stockholders’ equity   $ 4,825,469   $ 4,638,530   $ 4,610,795   $ 4,673,553   $ 4,550,622  
                                     
    Return on average assets     1.21 %     1.07 %     1.17 %     0.97 %     1.07 %
    Return on average common stockholders’ equity     11.5 %     10.0 %     11.2 %     9.5 %     10.6 %
                                     
    Net interest margin     3.36 %     3.37 %     3.25 %     3.15 %     3.25 %
    Net interest spread     2.79 %     2.75 %     2.65 %     2.59 %     2.69 %
                                     
    Efficiency ratio     55.3 %     59.0 %     58.3 %     61.2 %     58.5 %

    The MIL Network –

  • MIL-OSI: Five Star Bancorp Announces Quarterly and Annual Results

    Source: GlobeNewswire (MIL-OSI)

    RANCHO CORDOVA, Calif., Jan. 27, 2025 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), today reported net income of $13.3 million for the three months ended December 31, 2024, as compared to $10.9 million for the three months ended September 30, 2024 and $10.8 million for the three months ended December 31, 2023. Net income for the year ended December 31, 2024 was $45.7 million, as compared to $47.7 million for the year ended December 31, 2023.

    Financial and Other Highlights

    Performance highlights and other developments for the Company for the periods noted below included the following:

      Three months ended
    (in thousands, except per share and share data) December 31, 2024   September 30, 2024   December 31, 2023
    Return on average assets (“ROAA”)   1.31 %     1.18 %     1.26 %
    Return on average equity (“ROAE”)   13.48 %     11.31 %     15.45 %
    Pre-tax income $ 19,367     $ 15,241     $ 15,151  
    Pre-tax, pre-provision income(1) $ 20,667     $ 17,991     $ 15,951  
    Net income $ 13,317     $ 10,941     $ 10,799  
    Basic earnings per common share $ 0.63     $ 0.52     $ 0.63  
    Diluted earnings per common share $ 0.63     $ 0.52     $ 0.63  
    Weighted average basic common shares outstanding   21,182,143       21,182,143       17,175,445  
    Weighted average diluted common shares outstanding   21,235,318       21,232,758       17,193,114  
    Shares outstanding at end of period   21,319,083       21,319,583       17,256,989  
      Year ended
    (in thousands, except per share and share data) December 31, 2024   December 31, 2023
    ROAA   1.23 %     1.44 %
    ROAE   12.72 %     17.85 %
    Pre-tax income $ 64,721     $ 66,616  
    Pre-tax, pre-provision income(1) $ 71,671     $ 70,616  
    Net income $ 45,671     $ 47,734  
    Basic earnings per common share $ 2.26     $ 2.78  
    Diluted earnings per common share $ 2.26     $ 2.78  
    Weighted average basic common shares outstanding   20,154,385       17,166,592  
    Weighted average diluted common shares outstanding   20,205,440       17,187,969  
    Shares outstanding at end of period   21,319,083       17,256,989  
                   

    (1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

    James E. Beckwith, President and Chief Executive Officer, commented:

    “While we focus on the future and maintaining a position of distinction and respect in the markets we serve, we proudly look back at 2024 as another outstanding year of achievement. We experienced consistent, strong financial performance with year-over-year growth in loans and deposits, a consistent shareholder dividend, and stable net interest margin. We also continued our successful execution of our San Francisco market expansion and now have 27 employees in the San Francisco Bay Area who contributed $229.5 million in deposits from June 5, 2023 to December 31, 2024. We have managed expenses and executed on conservative underwriting practices, which are foundational to our success.

    Five Star Bank consistently executes on client and community-focused initiatives, and in 2024, we received a Super Premier rating from Findley Reports, an IDC Superior rating, and a Bauer Financial rating of 5 stars (out of five). We were also awarded the prestigious 2023 Raymond James Community Bankers Cup, were among S&P Global Market Intelligence’s 2023 Top 20 Best-Performing Community banks in the nation (with assets between $3 billion and $10 billion), and were ranked fifth on the 2024 Bank Director Magazine (RankingBanking) Best U.S. Banks with assets less than $5 billion. We also received the Greater Sacramento Economic Council’s Sustainability Award recognizing a company that has supported industry growth in the Greater Sacramento region.

    In 2024, our senior leadership was recognized by the Sacramento Business Journal with a C-Suite Award, a Women Who Mean Business honor, a 40 Under 40 recognition, and placement on the Power 100 list. Our senior leadership was also recognized on the San Francisco Business Times’ Newsmaker 100 list, as part of the Independent Community Bankers of America’s 40 Under 40: Emerging Community Bank Leaders, among the Association of Latino Professionals for America’s 50 Most Powerful Latinas, and with a National Association of Women Business Owners’ Sacramento Valley Outstanding Women Leaders’ Executive Woman award.

    Being recognized as community leaders ensures Five Star Bank remains top of mind in the markets we serve as we continue to build-out our market presence. I am humbled and proud of our team’s accomplishments and look forward to the future.”

    Financial highlights included the following:

    • The San Francisco Bay Area team, which increased from 24 to 27 employees during the three months ended December 31, 2024, generated deposit balances totaling $229.5 million at December 31, 2024, an increase of $40.4 million from September 30, 2024.
    • Cash and cash equivalents were $352.3 million, representing 9.90% of total deposits at December 31, 2024, as compared to 7.38% at September 30, 2024.
    • Total deposits increased by $158.0 million, or 4.65%, during the three months ended December 31, 2024, due to increases in both non-wholesale and wholesale deposits, which the Company defines as brokered deposits and public time deposits. During the three months ended December 31, 2024, non-wholesale deposits increased by $8.0 million, or 0.27%, and wholesale deposits increased by $150.0 million, or 36.59%.
    • Consistent, disciplined management of expenses contributed to our efficiency ratio of 41.21% for the three months ended December 31, 2024, as compared to 43.37% for the three months ended September 30, 2024.
    • For the three months ended December 31, 2024, net interest margin was 3.36%, as compared to 3.37% for the three months ended September 30, 2024 and 3.19% for the three months ended December 31, 2023. For the year ended December 31, 2024, net interest margin was 3.32%, as compared to 3.42% for the year ended December 31, 2023. The effective Federal Funds rate fell to 4.33% as of December 31, 2024 from 4.83% as of September 30, 2024 and 5.33% as of December 31, 2023.
    • Other comprehensive loss was $2.6 million during the three months ended December 31, 2024. Unrealized losses, net of tax effect, on available-for-sale securities were $12.4 million as of December 31, 2024. Total carrying value of held-to-maturity and available-for-sale securities represented 0.07% and 2.48% of total interest-earning assets, respectively, as of December 31, 2024.
    • The Company’s common equity Tier 1 capital ratio was 11.02% and 10.93% as of December 31, 2024 and September 30, 2024, respectively. The Bank continues to meet all requirements to be considered “well-capitalized” under applicable regulatory guidelines.
    • Loan and deposit growth in the three and twelve months ended December 31, 2024 was as follows:
    (in thousands) December 31, 2024   September 30, 2024   $ Change   % Change
    Loans held for investment $ 3,532,686   $ 3,460,565   $ 72,121   2.08 %
    Non-interest-bearing deposits   922,629     906,939     15,690   1.73 %
    Interest-bearing deposits   2,635,365     2,493,040     142,325   5.71 %
                   
    (in thousands) December 31, 2024   December 31, 2023   $ Change   % Change
    Loans held for investment $ 3,532,686   $ 3,081,719   $ 450,967   14.63 %
    Non-interest-bearing deposits   922,629     831,101     91,528   11.01 %
    Interest-bearing deposits   2,635,365     2,195,795     439,570   20.02 %
                           
    • The ratio of nonperforming loans to loans held for investment at period end decreased from 0.06% at December 31, 2023 to 0.05% at December 31, 2024.
    • The Company’s Board of Directors declared, and the Company subsequently paid, a cash dividend of $0.20 per share during the three months ended December 31, 2024. The Company’s Board of Directors subsequently declared another cash dividend of $0.20 per share on January 16, 2025, which the Company expects to pay on February 10, 2025 to shareholders of record as of February 3, 2025.

    Summary Results

    Three months ended December 31, 2024, as compared to three months ended September 30, 2024

    The Company’s net income was $13.3 million for the three months ended December 31, 2024, as compared to $10.9 million for the three months ended September 30, 2024. Net interest income increased by $3.1 million, primarily due to an increase in interest income driven by a larger average balance of interest-earning assets, partially offset by an increase in interest expense due to a larger average balance of deposits, as compared to September 30, 2024. The provision for credit losses decreased by $1.5 million, reflecting adjustments to expectations for credit losses based on economic trends and forecasts in the three months ended December 31, 2024 compared to the three months ended September 30, 2024. Non-interest income increased by $0.3 million, primarily due to income received on equity investments in venture-backed funds during the three months ended December 31, 2024, combined with a loss from equity investments in venture-backed funds during the three months ended September 30, 2024. Non-interest expense increased by $0.7 million, primarily due to: (i) increased salaries and employee benefits mainly resulting from increased loan production driving higher commissions expense period-over-period; and (ii) increased advertising and promotional expenses due to a larger number of events sponsored and attended period-over-period.

    Three months ended December 31, 2024, as compared to three months ended December 31, 2023

    The Company’s net income was $13.3 million for the three months ended December 31, 2024, as compared to $10.8 million for the three months ended December 31, 2023. Net interest income increased by $6.8 million, primarily due to an increase in interest income driven by higher average balances and yields on loans, partially offset by an increase in interest expense due to higher average balances and rates on deposits. The provision for credit losses increased by $0.5 million, reflecting adjustments to expectations for credit losses based on economic trends and forecasts in the three months ended December 31, 2024 compared to the three months ended December 31, 2023. Non-interest income decreased by $0.3 million, primarily due to lower swap referral and rate lock fees during the three months ended December 31, 2024 compared to the same quarter of the prior year. Non-interest expense increased by $1.8 million with an increase in salaries and employee benefits related to the Company’s expansion into the San Francisco Bay Area as the leading driver.

    Year ended December 31, 2024, as compared to year ended December 31, 2023

    The Company’s net income was $45.7 million for the year ended December 31, 2024, as compared to $47.7 million for the year ended December 31, 2023. Net interest income increased by $8.8 million, primarily due to an increase in interest income driven by higher average balances and yields on loans, partially offset by an increase in interest expense due to higher average balances and rates on deposits. The provision for credit losses increased by $3.0 million, or 73.75%, as loan originations in the year ended December 31, 2024 were almost double those for the year ended December 31, 2023. Non-interest income decreased by $1.1 million, primarily due to lower income received on equity investments in venture-backed funds during the year ended December 31, 2024 than during the year ended December 31, 2023. Non-interest expense increased by $6.7 million with an increase in salaries and employee benefits related to the Company’s expansion into the San Francisco Bay Area as the leading driver.

    The following is a summary of the components of the Company’s operating results and performance ratios for the periods indicated:

        Three months ended        
    (in thousands, except per share data)   December 31, 2024   September 30, 2024   $ Change   % Change
    Selected operating data:                
    Net interest income   $ 33,489     $ 30,386     $ 3,103     10.21 %
    Provision for credit losses     1,300       2,750       (1,450 )   (52.73) %
    Non-interest income     1,666       1,381       285     20.64 %
    Non-interest expense     14,488       13,776       712     5.17 %
    Pre-tax income     19,367       15,241       4,126     27.07 %
    Provision for income taxes     6,050       4,300       1,750     40.70 %
    Net income   $ 13,317     $ 10,941     $ 2,376     21.72 %
    Earnings per common share:                
    Basic   $ 0.63     $ 0.52     $ 0.11     21.15 %
    Diluted   $ 0.63     $ 0.52     $ 0.11     21.15 %
    Performance and other financial ratios:                
    ROAA     1.31 %     1.18 %        
    ROAE     13.48 %     11.31 %        
    Net interest margin     3.36 %     3.37 %        
    Cost of funds     2.65 %     2.72 %        
    Efficiency ratio     41.21 %     43.37 %        
        Three months ended        
    (in thousands, except per share data)   December 31, 2024   December 31, 2023   $ Change   % Change
    Selected operating data:                
    Net interest income   $ 33,489     $ 26,678     $ 6,811     25.53 %
    Provision for credit losses     1,300       800       500     62.50 %
    Non-interest income     1,666       1,936       (270 )   (13.95) %
    Non-interest expense     14,488       12,663       1,825     14.41 %
    Pre-tax income     19,367       15,151       4,216     27.83 %
    Provision for income taxes     6,050       4,352       1,698     39.02 %
    Net income   $ 13,317     $ 10,799     $ 2,518     23.32 %
    Earnings per common share:                
    Basic   $ 0.63     $ 0.63     $ —     — %
    Diluted   $ 0.63     $ 0.63     $ —     — %
    Performance and other financial ratios:                
    ROAA     1.31 %     1.26 %        
    ROAE     13.48 %     15.45 %        
    Net interest margin     3.36 %     3.19 %        
    Cost of funds     2.65 %     2.50 %        
    Efficiency ratio     41.21 %     44.25 %        
                             
        Year ended        
    (in thousands, except per share data)   December 31, 2024   December 31, 2023   $ Change   % Change
    Selected operating data:                
    Net interest income   $ 119,711     $ 110,880     $ 8,831     7.96 %
    Provision for credit losses     6,950       4,000       2,950     73.75 %
    Non-interest income     6,453       7,511       (1,058 )   (14.09) %
    Non-interest expense     54,493       47,775       6,718     14.06 %
    Pre-tax income     64,721       66,616       (1,895 )   (2.84) %
    Provision for income taxes     19,050       18,882       168     0.89 %
    Net income   $ 45,671     $ 47,734     $ (2,063 )   (4.32) %
    Earnings per common share:                
    Basic   $ 2.26     $ 2.78     $ (0.52 )   (18.71) %
    Diluted   $ 2.26     $ 2.78     $ (0.52 )   (18.71) %
    Performance and other financial ratios:                
    ROAA     1.23 %     1.44 %        
    ROAE     12.72 %     17.85 %        
    Net interest margin     3.32 %     3.42 %        
    Cost of funds     2.64 %     2.10 %        
    Efficiency ratio     43.19 %     40.35 %        


    Balance Sheet Summary

    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Selected financial condition data:                
    Total assets   $ 4,053,278   $ 3,593,125   $ 460,153     12.81 %
    Cash and cash equivalents     352,343     321,576     30,767     9.57 %
    Total loans held for investment     3,532,686     3,081,719     450,967     14.63 %
    Total investments     100,914     111,160     (10,246 )   (9.22) %
    Total liabilities     3,656,654     3,307,351     349,303     10.56 %
    Total deposits     3,557,994     3,026,896     531,098     17.55 %
    Subordinated notes, net     73,895     73,749     146     0.20 %
    Total shareholders’ equity     396,624     285,774     110,850     38.79 %
                               
    • Insured and collateralized deposits were approximately $2.4 billion, representing 66.92% of total deposits as of December 31, 2024. Net uninsured and uncollateralized deposits were approximately $1.2 billion as of December 31, 2024.
    • Commercial and consumer deposit accounts constituted 77.00% of total deposits. Deposit relationships of greater than $5 million represented 61.13% of total deposits and had an average age of approximately 9.28 years as of December 31, 2024.
    • Cash and cash equivalents as of December 31, 2024 were $352.3 million, representing 9.90% of total deposits at December 31, 2024, as compared to 10.62% as of December 31, 2023.
    • Total liquidity (consisting of cash and cash equivalents and unused and immediately available borrowing capacity as set forth below) was approximately $1.9 billion as of December 31, 2024.
        December 31, 2024
    (in thousands)   Line of Credit   Letters of Credit Issued   Borrowings   Available
    Federal Home Loan Bank of San Francisco (“FHLB”) advances   $ 1,212,209   $ 701,500   $ —   $ 510,709
    Federal Reserve Discount Window     862,136     —     —     862,136
    Correspondent bank lines of credit     175,000     —     —     175,000
    Cash and cash equivalents     —     —     —     352,343
    Total   $ 2,249,345   $ 701,500   $ —   $ 1,900,188

    The increase in total assets from December 31, 2023 to December 31, 2024 was primarily due to a $451.0 million increase in total loans held for investment and a $30.8 million increase in cash and cash equivalents, partially offset by a $10.2 million decrease in investments. The $451.0 million increase in total loans held for investment between December 31, 2023 and December 31, 2024 was the result of $1.1 billion in loan originations, partially offset by $263.0 million and $423.0 million in loan payoffs and paydowns, respectively. The $451.0 million increase in total loans held for investment included $281.4 million in purchased loans within the consumer concentration of the loan portfolio. The $30.8 million increase in cash and cash equivalents primarily resulted from net cash inflows related to financing and operating activities of $425.7 million and $52.3 million, respectively, partially offset by net cash outflows related to investing activities of $447.3 million.

    The increase in total liabilities from December 31, 2023 to December 31, 2024 was primarily attributable to an increase in deposits of $531.1 million, partially offset by a decrease in other borrowings of $170.0 million. The $531.1 million increase in deposits was largely due to increases in money market, time, and non-interest-bearing demand deposits of $242.9 million, $203.6 million, and $91.5 million, respectively, partially offset by decreases in interest-bearing demand and savings deposits of $5.1 million and $1.8 million, respectively.

    The increase in total shareholders’ equity from December 31, 2023 to December 31, 2024 was primarily a result of $80.9 million of additional common stock issued during the year and net income recognized of $45.7 million, partially offset by $16.2 million in cash dividends paid during the period.

    Net Interest Income and Net Interest Margin

    The following is a summary of the components of net interest income for the periods indicated:

        Three months ended        
    (in thousands)   December 31, 2024   September 30, 2024   $ Change   % Change
    Interest and fee income   $ 57,745     $ 52,667     $ 5,078   9.64 %
    Interest expense     24,256       22,281       1,975   8.86 %
    Net interest income   $ 33,489     $ 30,386     $ 3,103   10.21 %
    Net interest margin     3.36 %     3.37 %        
                     
        Three months ended        
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Interest and fee income   $ 57,745     $ 46,180     $ 11,565   25.04 %
    Interest expense     24,256       19,502       4,754   24.38 %
    Net interest income   $ 33,489     $ 26,678     $ 6,811   25.53 %
    Net interest margin     3.36 %     3.19 %        
                     
        Year ended        
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Interest and fee income   $ 206,951     $ 174,382     $ 32,569   18.68 %
    Interest expense     87,240       63,502       23,738   37.38 %
    Net interest income   $ 119,711     $ 110,880     $ 8,831   7.96 %
    Net interest margin     3.32 %     3.42 %        

    The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:

        Three months ended
        December 31, 2024   September 30, 2024   December 31, 2023
    (in thousands)   Average Balance   Interest Income/Expense   Yield/Rate   Average Balance   Interest Income/Expense   Yield/Rate   Average Balance   Interest Income/Expense   Yield/Rate
    Assets                                    
    Interest-earning deposits in banks   $ 363,828   $ 4,335   4.74 %   $ 126,266   $ 1,657   5.22 %   $ 157,775   $ 2,100   5.28 %
    Investment securities     103,930     607   2.33 %     106,256     620   2.32 %     106,483     651   2.43 %
    Loans held for investment and sale     3,498,109     52,803   6.01 %     3,354,050     50,390   5.98 %     3,055,042     43,429   5.64 %
    Total interest-earning assets     3,965,867     57,745   5.79 %     3,586,572     52,667   5.84 %     3,319,300     46,180   5.52 %
    Interest receivable and other assets, net     91,736             91,965             80,360        
    Total assets   $ 4,057,603           $ 3,678,537           $ 3,399,660        
                                         
    Liabilities and shareholders’ equity                                    
    Interest-bearing transaction accounts   $ 298,518   $ 1,249   1.66 %   $ 302,188   $ 1,237   1.63 %   $ 291,967   $ 1,091   1.48 %
    Savings accounts     127,298     887   2.77 %     124,851     979   3.12 %     130,915     891   2.70 %
    Money market accounts     1,596,116     13,520   3.37 %     1,578,244     14,688   3.70 %     1,347,111     10,824   3.19 %
    Time accounts     617,596     7,438   4.79 %     326,640     4,172   5.08 %     417,434     5,322   5.06 %
    Subordinated notes and other borrowings     73,872     1,162   6.25 %     76,988     1,205   6.23 %     88,401     1,374   6.16 %
    Total interest-bearing liabilities     2,713,400     24,256   3.56 %     2,408,911     22,281   3.68 %     2,275,828     19,502   3.40 %
    Demand accounts     921,881             852,872             821,651        
    Interest payable and other liabilities     29,234             32,062             24,886        
    Shareholders’ equity     393,088             384,692             277,295        
    Total liabilities & shareholders’ equity   $ 4,057,603           $ 3,678,537           $ 3,399,660        
                                         
    Net interest spread           2.23 %           2.16 %           2.12 %
    Net interest income/margin       $ 33,489   3.36 %       $ 30,386   3.37 %       $ 26,678   3.19 %

    Net interest income during the three months ended December 31, 2024 increased $3.1 million, or 10.21%, to $33.5 million compared to $30.4 million during the three months ended September 30, 2024. Net interest margin totaled 3.36% for the three months ended December 31, 2024, a decrease of one basis point compared to the prior quarter. The increase in net interest income is primarily attributable to an additional $5.1 million in interest income due to a $379.3 million, or 10.58%, increase in the average balance of interest-earning assets during the three months ended December 31, 2024 compared to the prior quarter. The increase in interest income was partially offset by a $2.0 million increase in deposit interest expense due to a $376.6 million, or 11.83%, increase in the average balance of deposits during the three months ended December 31, 2024 compared to the prior quarter.

    As compared to the three months ended December 31, 2023, net interest income increased $6.8 million, or 25.53%, to $33.5 million compared to $26.7 million. Net interest margin totaled 3.36% for the three months ended December 31, 2024, an increase of 17 basis points compared to the same quarter of the prior year. The increase in net interest income is primarily attributable to an additional $9.4 million in loan interest income due to a $443.1 million, or 14.50%, increase in the average balance of loans and a 37 basis point improvement in the average yield on loans during the three months ended December 31, 2024 compared to the same quarter of the prior year. The increase in interest income was partially offset by a $5.0 million increase in deposit interest expense due to a $552.3 million, or 18.36%, increase in the average balance of deposits and a 19 basis point increase in the average cost of deposits during the three months ended December 31, 2024 compared to the same quarter of the prior year.

    The following table shows the components of net interest income and net interest margin for the annual periods indicated:

        Year ended
        December 31, 2024   December 31, 2023
    (in thousands)   Average Balance   Interest Income/Expense   Yield/Rate   Average Balance   Interest Income/Expense   Yield/Rate
    Assets                        
    Interest-earning deposits in banks   $ 218,156   $ 11,080   5.08 %   $ 184,103   $ 9,069   4.93 %
    Investment securities     106,289     2,530   2.38 %     113,515     2,600   2.29 %
    Loans held for investment and sale     3,283,874     193,341   5.89 %     2,947,603     162,713   5.52 %
    Total interest-earning assets     3,608,319     206,951   5.74 %     3,245,221     174,382   5.37 %
    Interest receivable and other assets, net     90,061             75,741        
    Total assets   $ 3,698,380           $ 3,320,962        
                             
    Liabilities and shareholders’ equity                        
    Interest-bearing transaction accounts   $ 298,137   $ 4,716   1.58 %   $ 312,944   $ 3,321   1.06 %
    Savings accounts     124,208     3,584   2.89 %     140,060     3,073   2.19 %
    Money market accounts     1,533,405     53,750   3.51 %     1,263,539     33,932   2.69 %
    Time accounts     412,007     20,348   4.94 %     372,557     17,535   4.71 %
    Subordinated notes and other borrowings     77,335     4,842   6.26 %     93,279     5,641   6.05 %
    Total interest-bearing liabilities     2,445,092     87,240   3.57 %     2,182,379     63,502   2.91 %
    Demand accounts     858,789             844,057        
    Interest payable and other liabilities     35,331             27,127        
    Shareholders’ equity     359,168             267,399        
    Total liabilities & shareholders’ equity   $ 3,698,380           $ 3,320,962        
                             
    Net interest spread           2.17 %           2.46 %
    Net interest income/margin       $ 119,711   3.32 %       $ 110,880   3.42 %

    Net interest income during the year ended December 31, 2024 increased $8.8 million, or 7.96%, to $119.7 million compared to $110.9 million during the year ended December 31, 2023. Net interest margin totaled 3.32% for the year ended December 31, 2024, a decrease of 10 basis points compared to the prior year. The increase in net interest income is primarily attributable to an additional $30.6 million in loan interest income due to a $336.3 million, or 11.41%, increase in the average balance of loans and a 37 basis point improvement in the average yield on loans as compared to the prior year. The increase in interest income was partially offset by an additional $24.5 million in deposit interest expense due to a $293.4 million, or 10.00%, increase in the average balance of deposits and a 58 basis point increase in the average cost of deposits compared to the prior year.

    Loans by Type

    The following table provides loan balances, excluding deferred loan fees, by type as of December 31, 2024:

    (in thousands)    
    Real estate:    
    Commercial   $ 2,857,173  
    Commercial land and development     3,849  
    Commercial construction     111,318  
    Residential construction     4,561  
    Residential     32,774  
    Farmland     47,241  
    Commercial:    
    Secured     170,548  
    Unsecured     27,558  
    Consumer and other     279,584  
    Net deferred loan fees     (1,920 )
    Total loans held for investment   $ 3,532,686  


    Interest-bearing Deposits

    The following table provides interest-bearing deposit balances by type as of December 31, 2024:

    (in thousands)    
    Interest-bearing demand accounts   $ 315,217
    Money market accounts     1,525,293
    Savings accounts     124,702
    Time accounts     670,153
    Total interest-bearing deposits   $ 2,635,365


    Asset Quality

    Allowance for Credit Losses

    At December 31, 2024, the Company’s allowance for credit losses was $37.8 million, as compared to $34.4 million at December 31, 2023. The $3.4 million increase in the allowance is due to a $7.5 million provision for credit losses recorded during the twelve months ended December 31, 2024, partially offset by net charge-offs of $4.1 million, mainly attributable to commercial and industrial loans, during the same period.

    The Company’s ratio of nonperforming loans to loans held for investment decreased from 0.06% at December 31, 2023 to 0.05% at December 31, 2024. Loans designated as watch increased from $39.6 million to $123.4 million between December 31, 2023 and December 31, 2024. Loans designated as substandard increased from $2.0 million to $2.6 million between December 31, 2023 and December 31, 2024. There were no loans with doubtful risk grades at December 31, 2024 or December 31, 2023.

    A summary of the allowance for credit losses by loan class is as follows:

        December 31, 2024   December 31, 2023
    (in thousands)   Amount   % of Total   Amount   % of Total
    Real estate:                
    Commercial   $ 25,864   68.44 %   $ 29,015   84.27 %
    Commercial land and development     78   0.21 %     178   0.52 %
    Commercial construction     2,268   6.00 %     718   2.08 %
    Residential construction     64   0.17 %     89   0.26 %
    Residential     270   0.71 %     151   0.44 %
    Farmland     607   1.61 %     399   1.16 %
          29,151   77.14 %     30,550   88.73 %
    Commercial:                
    Secured     5,866   15.52 %     3,314   9.62 %
    Unsecured     278   0.74 %     189   0.55 %
          6,144   16.26 %     3,503   10.17 %
    Consumer and other     2,496   6.60 %     378   1.10 %
    Total allowance for credit losses   $ 37,791   100.00 %   $ 34,431   100.00 %

    The ratio of allowance for credit losses to loans held for investment was 1.07% at December 31, 2024, as compared to 1.12% at December 31, 2023.

    Non-interest Income

    The following table presents the key components of non-interest income for the periods indicated:

        Three months ended        
    (in thousands)   December 31, 2024   September 30, 2024   $ Change   % Change
    Service charges on deposit accounts   $ 179   $ 165   $ 14     8.48 %
    Gain on sale of loans     150     306     (156 )   (50.98) %
    Loan-related fees     400     406     (6 )   (1.48) %
    FHLB stock dividends     332     327     5     1.53 %
    Earnings on bank-owned life insurance     182     162     20     12.35 %
    Other income     423     15     408     2,720.00 %
    Total non-interest income   $ 1,666   $ 1,381   $ 285     20.64 %


    Gain on sale of loans.     The decrease related primarily to an overall decline in the volume of loans sold during the three months ended December 31, 2024 compared to the three months ended September 30, 2024. During the three months ended December 31, 2024, approximately $2.0 million of loans were sold with an effective yield of 7.60%, as compared to approximately $4.4 million of loans sold with an effective yield of 7.03% during the three months ended September 30, 2024.

    Other income. The increase resulted primarily from $0.3 million of income received on equity investments in venture-backed funds during the three months ended December 31, 2024, combined with a $0.1 million loss from equity investments in venture-backed funds during the three months ended September 30, 2024.

    The following table presents the key components of non-interest income for the periods indicated:

        Three months ended      
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Service charges on deposit accounts   $ 179   $ 165     $ 14     8.48 %
    Net gain (loss) on sale of securities     —     (167 )     167     (100.00) %
    Gain on sale of loans     150     317       (167 )   (52.68) %
    Loan-related fees     400     667       (267 )   (40.03) %
    FHLB stock dividends     332     314       18     5.73 %
    Earnings on bank-owned life insurance     182     155       27     17.42 %
    Other income     423     485       (62 )   (12.78) %
    Total non-interest income   $ 1,666   $ 1,936     $ (270 )   (13.95) %


    Net gain (loss) on sale of securities.     The decrease in the net loss on sale of securities related to the sale of two municipal securities with a par value of approximately $0.8 million for a loss of approximately $0.2 million during the three months ended December 31, 2023, with no sales occurring during the three months ended December 31, 2024.

    Gain on sale of loans. The decrease resulted from an overall decline in the volume of loans sold during the three months ended December 31, 2024, as compared to the three months ended December 31, 2023. During the three months ended December 31, 2024, approximately $2.0 million of loans were sold with an effective yield of 7.60%, as compared to approximately $5.9 million of loans sold with an effective yield of 5.41% during the three months ended December 31, 2023.

    Loan-related fees. The decrease resulted from the recognition of $0.2 million lower rate lock fees and $0.1 million lower swap referral fees during the three months ended December 31, 2024 than the three months ended December 31, 2023.

    Non-interest income for the periods indicated:

        Year ended      
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Service charges on deposit accounts   $ 721   $ 575     $ 146     25.39 %
    Net gain (loss) on sale of securities     —     (167 )     167     (100.00) %
    Gain on sale of loans     1,274     1,952       (678 )   (34.73) %
    Loan-related fees     1,605     1,719       (114 )   (6.63) %
    FHLB stock dividends     1,320     970       350     36.08 %
    Earnings on bank-owned life insurance     644     510       134     26.27 %
    Other income     889     1,952       (1,063 )   (54.46) %
    Total non-interest income   $ 6,453   $ 7,511     $ (1,058 )   (14.09) %


    Service charges on deposit accounts.     The increase resulted primarily from a $0.2 million increase in wire transfer fees recognized, partially offset by a small decrease in other fees recognized during the year ended December 31, 2024 compared to the year ended December 31, 2023.

    Net gain (loss) on sale of securities. The decrease in the net loss on sale of securities resulted from the sale of two municipal securities with a par value of approximately $0.8 million for a loss of approximately $0.2 million during the year ended December 31, 2023, with no sales occurring during the year ended December 31, 2024.

    Gain on sale of loans. The decrease related primarily to an overall decline in the volume of loans sold during the year ended December 31, 2024 compared to the year ended December 31, 2023. During the year ended December 31, 2024, approximately $18.3 million of loans were sold with an effective yield of 6.96%, as compared to approximately $36.5 million of loans sold with an effective yield of 5.35% during the year ended December 31, 2023.

    Loan-related fees. The decrease was primarily a result of a $0.2 million net decrease in income earned from the credit card program, partially offset by a small increase in loan fee income earned on various loan types and services.

    FHLB stock dividends. The increase primarily relates to a 50 basis point increase in the annualized dividend rate earned year-over-year, while the average shares outstanding remained consistent.

    Earnings on bank-owned life insurance. The increase was primarily due to additional policies purchased between December 31, 2024 and December 31, 2023.

    Other income. The decrease resulted primarily from $0.5 million in income received on equity investments in venture-backed funds during the year ended December 31, 2024, as compared to $1.7 million in income received on equity investments in venture-back funds during the year ended December 31, 2023.

    Non-interest Expense

    The following table presents the key components of non-interest expense for the periods indicated:

        Three months ended        
    (in thousands)   December 31, 2024   September 30, 2024   $ Change   % Change
    Salaries and employee benefits   $ 8,360   $ 7,969   $ 391     4.91 %
    Occupancy and equipment     649     626     23     3.67 %
    Data processing and software     1,369     1,327     42     3.17 %
    Federal Deposit Insurance Corporation (“FDIC”) insurance     440     405     35     8.64 %
    Professional services     774     830     (56 )   (6.75) %
    Advertising and promotional     752     584     168     28.77 %
    Loan-related expenses     321     292     29     9.93 %
    Other operating expenses     1,823     1,743     80     4.59 %
    Total non-interest expense   $ 14,488   $ 13,776   $ 712     5.17 %


    Salaries and employee benefits.     The increase was primarily a result of: (i) a $0.1 million increase in salaries, benefits, and bonus expense; and (ii) a $0.5 million increase in commissions expense due to higher loan production, net of purchased consumer loans. These increases were partially offset by a $0.2 million increase in loan origination costs due to higher loan production, net of purchased consumer loans, period-over-period.

    Advertising and promotional. The increase was primarily due to the timing of events sponsored and attended during the three months ended December 31, 2024 compared to the three months ended September 30, 2024.

    The following table presents the key components of non-interest expense for the periods indicated:

        Three months ended        
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Salaries and employee benefits   $ 8,360   $ 7,182   $ 1,178   16.40 %
    Occupancy and equipment     649     583     66   11.32 %
    Data processing and software     1,369     1,110     259   23.33 %
    FDIC insurance     440     370     70   18.92 %
    Professional services     774     658     116   17.63 %
    Advertising and promotional     752     717     35   4.88 %
    Loan-related expenses     321     268     53   19.78 %
    Other operating expenses     1,823     1,775     48   2.70 %
    Total non-interest expense   $ 14,488   $ 12,663   $ 1,825   14.41 %


    Salaries and employee benefits.     The increase was primarily a result of: (i) a $1.0 million increase in salaries, benefits, and bonus expense, of which approximately $0.8 million related to employees hired to support expansion into the San Francisco Bay Area; and (ii) a $0.7 million increase in commissions expense due to higher loan production, net of purchased consumer loans. These increases were partially offset by a $0.5 million increase in loan origination costs due to higher loan production, net of purchased consumer loans, period-over-period.

    Data processing and software. The increase was primarily due to: (i) increased usage of our digital banking platform; (ii) higher transaction volumes related to the increased number of loan and deposit accounts; and (iii) an increased number of licenses required for new users on our loan origination and documentation system.

    Professional services. The increase was primarily due to increased audit and examination fees for services provided for the three months ended December 31, 2024 compared to the three months ended December 31, 2023.

    The following table presents the key components of non-interest expense for the periods indicated:

        Year ended        
    (in thousands)   December 31, 2024   December 31, 2023   $ Change   % Change
    Salaries and employee benefits   $ 31,709   $ 27,097   $ 4,612   17.02 %
    Occupancy and equipment     2,547     2,218     329   14.83 %
    Data processing and software     5,088     4,015     1,073   26.72 %
    FDIC insurance     1,635     1,557     78   5.01 %
    Professional services     3,078     2,575     503   19.53 %
    Advertising and promotional     2,411     2,403     8   0.33 %
    Loan-related expenses     1,207     1,192     15   1.26 %
    Other operating expenses     6,818     6,718     100   1.49 %
    Total non-interest expense   $ 54,493   $ 47,775   $ 6,718   14.06 %


    Salaries and employee benefits.     The increase was the result of: (i) a $3.5 million increase in salaries, benefits, and bonus, of which approximately $3.3 million related to employees hired to support expansion into the San Francisco Bay Area; and (ii) a $1.4 million increase in commissions paid, primarily to employees in the San Francisco Bay Area. The increase was partially offset by a $0.3 million increase in loan origination costs due to higher loan production, net of purchased consumer loans, period-over-period.

    Occupancy and equipment. The increase related to rent expense for the San Francisco branch office and a new office lease to support back office staff during the year ended December 31, 2024, which did not exist for the full year ended December 31, 2023.

    Data processing and software. The increase related to: (i) increased usage of our digital banking platform; (ii) higher transaction volumes related to the increased number of loan and deposit accounts; and (iii) an increased number of licenses required for new users on our loan origination and documentation system.

    Professional services. The increase was due to an increase in audit, IT support, and other consulting fees for services provided for the year ended December 31, 2024 compared to the year ended December 31, 2023.

    Other operating expenses. The increase is primarily related to a $0.2 million increase in IntraFi Network fees resulting from an overall increase in balances carried in the network, partially offset by a $0.1 million decrease in conference and training expenses.

    Provision for Income Taxes

    Three months ended December 31, 2024, as compared to the three months ended September 30, 2024

    Provision for income taxes for the quarter ended December 31, 2024 increased by $1.8 million, or 40.70%, to $6.1 million, as compared to $4.3 million for the quarter ended September 30, 2024, which was primarily due to: (i) the increase in taxable income recognized during the three months ended December 31, 2024; and (ii) a $0.6 million provision to return true-up recorded during the three months ended December 31, 2024 related primarily to the timing of recognition of low income housing tax credits, which did not occur during the three months ended September 30, 2024. The effective tax rate was 31.24% and 28.21% for the three months ended December 31, 2024 and September 30, 2024, respectively.

    Three months ended December 31, 2024, as compared to the three months ended December 31, 2023

    Provision for income taxes increased by $1.7 million, or 39.02%, to $6.1 million for the three months ended December 31, 2024, as compared to $4.4 million for the three months ended December 31, 2023. This increase is due to: (i) the increase in taxable income for the three months ended December 31, 2024 compared to the three months ended December 31, 2023; and (ii) a $0.6 million provision to return true-up recorded during the three months ended December 31, 2024 related primarily to the timing of recognition of low income housing tax credits, which did not occur during the three months ended December 31, 2023. The effective tax rate was 31.24% and 28.72% for the three months ended December 31, 2024 and December 31, 2023, respectively.

    Year ended December 31, 2024, as compared to the year ended December 31, 2023

    Provision for income taxes increased by $0.2 million, or 0.89%, to $19.1 million for the year ended December 31, 2024, as compared to $18.9 million for the year ended December 31, 2023. This increase is due to a $0.6 million provision to return true-up recorded during the year ended December 31, 2024, partially offset by a decline in taxable income year-over-year. The effective tax rate was 29.43% and 28.34% for the years ended December 31, 2024 and December 31, 2023, respectively.

    Webcast Details

    Five Star Bancorp will host a live webcast for analysts and investors on Tuesday, January 28, 2025, at 1:00 pm ET (10:00 am PT), to discuss its fourth quarter and annual financial results. To view the live webcast, visit the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. The webcast will be archived on the Company’s website for a period of 90 days.

    About Five Star Bancorp

    Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, in each case under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

    The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

    Condensed Financial Data (Unaudited)

        Three months ended
    (in thousands, except per share and share data)   December 31, 2024   September 30, 2024   December 31, 2023
    Revenue and Expense Data            
    Interest and fee income   $ 57,745     $ 52,667     $ 46,180  
    Interest expense     24,256       22,281       19,502  
    Net interest income     33,489       30,386       26,678  
    Provision for credit losses     1,300       2,750       800  
    Net interest income after provision     32,189       27,636       25,878  
    Non-interest income:            
    Service charges on deposit accounts     179       165       165  
    Net gain (loss) on sale of securities     —       —       (167 )
    Gain on sale of loans     150       306       317  
    Loan-related fees     400       406       667  
    FHLB stock dividends     332       327       314  
    Earnings on bank-owned life insurance     182       162       155  
    Other income     423       15       485  
    Total non-interest income     1,666       1,381       1,936  
    Non-interest expense:            
    Salaries and employee benefits     8,360       7,969       7,182  
    Occupancy and equipment     649       626       583  
    Data processing and software     1,369       1,327       1,110  
    FDIC insurance     440       405       370  
    Professional services     774       830       658  
    Advertising and promotional     752       584       717  
    Loan-related expenses     321       292       268  
    Other operating expenses     1,823       1,743       1,775  
    Total non-interest expense     14,488       13,776       12,663  
    Income before provision for income taxes     19,367       15,241       15,151  
    Provision for income taxes     6,050       4,300       4,352  
    Net income   $ 13,317     $ 10,941     $ 10,799  
                 
    Comprehensive Income            
    Net income   $ 13,317     $ 10,941     $ 10,799  
    Net unrealized holding (loss) gain on securities available-for-sale during the period     (3,747 )     3,549       5,744  
    Reclassification for net loss on sale of securities included in net income     —       —       167  
    Less: Income tax (benefit) expense related to other comprehensive (loss) income     (1,108 )     1,049       1,747  
    Other comprehensive (loss) income     (2,639 )     2,500       4,164  
    Total comprehensive income   $ 10,678     $ 13,441     $ 14,963  
                 
    Share and Per Share Data            
    Earnings per common share:            
    Basic   $ 0.63     $ 0.52     $ 0.63  
    Diluted   $ 0.63     $ 0.52     $ 0.63  
    Book value per share   $ 18.60     $ 18.29     $ 16.56  
    Tangible book value per share(1)   $ 18.60     $ 18.29     $ 16.56  
    Weighted average basic common shares outstanding     21,182,143       21,182,143       17,175,445  
    Weighted average diluted common shares outstanding     21,235,318       21,232,758       17,193,114  
    Shares outstanding at end of period     21,319,083       21,319,583       17,256,989  
                 
    Credit Quality            
    Allowance for credit losses to period end nonperforming loans     2,101.78 %     2,041.44 %     1,752.70 %
    Nonperforming loans to loans held for investment     0.05 %     0.05 %     0.06 %
    Nonperforming assets to total assets     0.05 %     0.05 %     0.05 %
    Nonperforming loans plus performing loan modifications to loans held for investment     0.05 %     0.05 %     0.06 %
                 
    Selected Financial Ratios            
    ROAA     1.31 %     1.18 %     1.26 %
    ROAE     13.48 %     11.31 %     15.45 %
    Net interest margin     3.36 %     3.37 %     3.19 %
    Loan to deposit     99.38 %     101.87 %     102.19 %


    (1)     See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

        Year ended
    (in thousands, except per share and share data)   December 31, 2024   December 31, 2023
    Revenue and Expense Data        
    Interest and fee income   $ 206,951     $ 174,382  
    Interest expense     87,240       63,502  
    Net interest income     119,711       110,880  
    Provision for credit losses     6,950       4,000  
    Net interest income after provision     112,761       106,880  
    Non-interest income:        
    Service charges on deposit accounts     721       575  
    Net gain (loss) on sale of securities     —       (167 )
    Gain on sale of loans     1,274       1,952  
    Loan-related fees     1,605       1,719  
    FHLB stock dividends     1,320       970  
    Earnings on bank-owned life insurance     644       510  
    Other income     889       1,952  
    Total non-interest income     6,453       7,511  
    Non-interest expense:        
    Salaries and employee benefits     31,709       27,097  
    Occupancy and equipment     2,547       2,218  
    Data processing and software     5,088       4,015  
    FDIC insurance     1,635       1,557  
    Professional services     3,078       2,575  
    Advertising and promotional     2,411       2,403  
    Loan-related expenses     1,207       1,192  
    Other operating expenses     6,818       6,718  
    Total non-interest expense     54,493       47,775  
    Income before provision for income taxes     64,721       66,616  
    Provision for income taxes     19,050       18,882  
    Net income   $ 45,671     $ 47,734  
             
    Comprehensive Income        
    Net income   $ 45,671     $ 47,734  
    Net unrealized holding (loss) gain on securities available-for-sale during the period     (858 )     2,228  
    Reclassification for net loss on sale of securities included in net income     —       167  
    Less: Income tax (benefit) expense related to other comprehensive (loss) income     (254 )     708  
    Other comprehensive (loss) income     (604 )     1,687  
    Total comprehensive income   $ 45,067     $ 49,421  
             
    Share and Per Share Data        
    Earnings per common share:        
    Basic   $ 2.26     $ 2.78  
    Diluted   $ 2.26     $ 2.78  
    Book value per share   $ 18.60     $ 16.56  
    Tangible book value per share(1)   $ 18.60     $ 16.56  
    Weighted average basic common shares outstanding     20,154,385       17,166,592  
    Weighted average diluted common shares outstanding     20,205,440       17,187,969  
    Shares outstanding at end of period     21,319,083       17,256,989  
             
    Credit Quality        
    Allowance for credit losses to period end nonperforming loans     2,101.78 %     1,752.70 %
    Nonperforming loans to loans held for investment     0.05 %     0.06 %
    Nonperforming assets to total assets     0.05 %     0.05 %
    Nonperforming loans plus performing loan modifications to loans held for investment     0.05 %     0.06 %
             
    Selected Financial Ratios        
    ROAA     1.23 %     1.44 %
    ROAE     12.72 %     17.85 %
    Net interest margin     3.32 %     3.42 %
    Loan to deposit     99.38 %     102.19 %
                     

    (1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

    (in thousands)   December 31, 2024   September 30, 2024   December 31, 2023
    Balance Sheet Data            
    Cash and due from financial institutions   $ 33,882     $ 44,531     $ 26,986  
    Interest-bearing deposits in banks     318,461       206,321       294,590  
    Time deposits in banks     4,121       4,118       5,858  
    Securities – available-for-sale, at fair value     98,194       104,238       108,083  
    Securities – held-to-maturity, at amortized cost     2,720       2,720       3,077  
    Loans held for sale     3,247       2,910       11,464  
    Loans held for investment     3,532,686       3,460,565       3,081,719  
    Allowance for credit losses     (37,791 )     (37,583 )     (34,431 )
    Loans held for investment, net of allowance for credit losses     3,494,895       3,422,982       3,047,288  
    FHLB stock     15,000       15,000       15,000  
    Operating leases, right-of-use asset     6,245       6,590       5,284  
    Premises and equipment, net     1,584       1,657       1,623  
    Bank-owned life insurance     19,375       19,192       17,180  
    Interest receivable and other assets     55,554       56,745       56,692  
    Total assets   $ 4,053,278     $ 3,887,004     $ 3,593,125  
                 
    Non-interest-bearing deposits   $ 922,629     $ 906,939     $ 831,101  
    Interest-bearing deposits     2,635,365       2,493,040       2,195,795  
    Total deposits     3,557,994       3,399,979       3,026,896  
    Subordinated notes, net     73,895       73,859       73,749  
    Other borrowings     —       —       170,000  
    Operating lease liability     6,857       7,101       5,603  
    Interest payable and other liabilities     17,908       16,135       31,103  
    Total liabilities     3,656,654       3,497,074       3,307,351  
                 
    Common stock     302,531       302,251       220,505  
    Retained earnings     106,464       97,411       77,036  
    Accumulated other comprehensive loss, net of taxes     (12,371 )     (9,732 )     (11,767 )
    Total shareholders’ equity     396,624       389,930       285,774  
    Total liabilities and shareholders’ equity   $ 4,053,278     $ 3,887,004     $ 3,593,125  
                 
    Quarterly Average Balance Data            
    Average loans held for investment and sale   $ 3,498,109     $ 3,354,050     $ 3,055,042  
    Average interest-earning assets     3,965,867       3,586,572       3,319,300  
    Average total assets     4,057,603       3,678,537       3,399,660  
    Average deposits     3,561,409       3,184,795       3,009,078  
    Average total equity     393,088       384,692       277,295  
                 
    Capital Ratios            
    Total shareholders’ equity to total assets     9.79 %     10.03 %     7.95 %
    Tangible shareholders’ equity to tangible assets(1)     9.79 %     10.03 %     7.95 %
    Total capital (to risk-weighted assets)     13.99 %     13.94 %     12.30 %
    Tier 1 capital (to risk-weighted assets)     11.02 %     10.93 %     9.07 %
    Common equity Tier 1 capital (to risk-weighted assets)     11.02 %     10.93 %     9.07 %
    Tier 1 leverage ratio     10.05 %     10.83 %     8.73 %
                             

    (1) See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

    Non-GAAP Reconciliation (Unaudited)

    The Company uses financial information in its analysis of the Company’s performance that is not in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP. Additionally, these non-GAAP measures are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons.

    Tangible shareholders’ equity to tangible assets is defined as total equity less goodwill and other intangible assets, divided by total assets less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholders’ equity to total assets. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible shareholders’ equity to tangible assets is the same as total shareholders’ equity to total assets at the end of each of the periods indicated.

    Tangible book value per share is defined as total shareholders’ equity less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of the period. The most directly comparable GAAP financial measure is book value per share. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible book value per share is the same as book value per share at the end of each of the periods indicated.

    Pre-tax, pre-provision income is defined as pre-tax income plus provision for credit losses. The most directly comparable GAAP financial measure is pre-tax income.

    The following reconciliation tables provide a more detailed analysis of this non-GAAP financial measure:

        Three months ended
    (in thousands)   December 31, 2024   September 30, 2024   December 31, 2023
    Pre-tax, pre-provision income            
    Pre-tax income   $ 19,367   $ 15,241   $ 15,151
    Add: provision for credit losses     1,300     2,750     800
    Pre-tax, pre-provision income   $ 20,667   $ 17,991   $ 15,951
        Year ended
    (in thousands)   December 31, 2024   December 31, 2023
    Pre-tax, pre-provision income        
    Pre-tax income   $ 64,721   $ 66,616
    Add: provision for credit losses     6,950     4,000
    Pre-tax, pre-provision income   $ 71,671   $ 70,616


    Investor Contact:
    Heather C. Luck, Chief Financial Officer
    Five Star Bancorp
    (916) 626-5008
    hluck@fivestarbank.com

    Media Contact:
    Shelley R. Wetton, Chief Marketing Officer
    Five Star Bancorp
    (916) 284-7827
    swetton@fivestarbank.com

    The MIL Network –

  • MIL-OSI USA: Welch Commemorates International Holocaust Remembrance Day, 80 Years Since the Liberation of Auschwitz-Birkenau 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) today released the following statement on International Holocaust Remembrance Day, 80 years since the liberation of the Auschwitz concentration camp: 
    “As we mark International Holocaust Remembrance Day, 80 years since the liberation of Auschwitz, we grieve the six million Jews and millions of other innocent victims murdered at the hands of Nazi regime and those who enabled their hate. We pay respect to the victims and survivors and recognize the incredible bravery of all who fought against unspeakable evils and horrific injustice. As antisemitism rises and survivors of the Holocaust’s terror become fewer, we must honor their legacy by keeping our vow to never forget, and by rejecting hate, always.” 

    MIL OSI USA News –

  • MIL-OSI USA: Welch Convenes Businesses, State Officials to Talk Trump’s Tariffs Threats and the Impact on Vermont’s Local Economy, Hardworking Families 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    ST. ALBANS, VT – Today, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, convened Vermont businesses and state and local leaders for a roundtable discussion on President Trump’s threats to reignite a trade war with Canada and other U.S. trade allies by imposing dramatic tariffs on goods imported from Canada. Senator Welch advocated for a ‘Do No Harm’ policy approach and warned against imposing tariffs that get passed on to the consumer—Vermont families. 
    “We saw the harmful impact of the Trump Tariffs during his first term, and we can’t accept a return to that chaotic trade policy. Canada is Vermont’s biggest trading partner, and one of our most important allies nationally. Our trade relationship needs to be strong, because the success of hardworking families, businesses, farms, and manufacturers depends on it,” said Senator Welch. “President Trump’s plans are still unknown, but what we do know today is that a trade war is not the answer. We need a ‘Do No Harm’ policy. This is about jobs, and this is about the consistency Vermont businesses deserve. I’ll advocate in Washington for Vermonters, and push for open markets, which are necessary to keep our economy strong.”  
    Senator Welch was joined by leaders in the technology, agriculture, energy, services, construction and manufacturing industries. Participants talked about the importance of Canada as an economic partner for Vermont’s local communities, and how the proposed Trump Tariffs could be detrimental to the state’s businesses, farms, and manufacturers, leading to higher costs for hardworking families.  
    View photos from the event below:  
    Sen. Welch was joined today by the Vermont Chamber of Commerce; the Vermont Association of General Contractors; Manufacturing Solutions, Inc.; H20 Innovation; A.N. Deringer, Inc.; Poulin Grain; Green Mountain Power; Vermont State Treasurer Mike Pieciak; Brett Long, Deputy Commissioner, Vermont Department of Economic Development; and Tim Smith, Mayor, St. Albans. 
    Attendees at the roundtable spoke about the impact of the tariffs on their businesses and their concerns regarding President Trump’s rhetoric regarding trade since taking office last week. In many cases, Vermont manufacturers buy inputs from Canada to manufacture into products. However, the ability of Vermont’s small manufacturing businesses to absorb a 25% increase in costs on parts or raw materials is limited. If President Trump follows through on his threats of a 25% tariff on Canada and Mexico, Vermonters could see higher homebuilding costs, increased costs of grain for farmers, more expensive equipment for maple producers, and costlier electricity.   
    The tariffs could also further exacerbate inequalities found within the current U.S. tax system. As trade wars accelerate, some families—especially those with young children—end up being disproportionately impacted by high tariffs, as the U.S. imports 97% of clothing, and infant formulas are hit by tariffs of 17.5%. 

    MIL OSI USA News –

  • MIL-OSI United Nations: Security Council: International Criminal Court Prosecutor to Give Semi-Annual Briefing on Situation in Sudan

    Source: United Nations General Assembly and Security Council

    Meetings Coverage

    9851st Meeting (PM)

    (The full summary of the meeting will be available later.)

    Karim Asad Ahmad Khan, International Criminal Court (ICC) Prosecutor, briefs members this afternoon on ICC’s Darfur-related work and provides an update on its recent judicial activities.

    Follow the proceedings live at https://press.un.org/en/live

    …

    For information media. Not an official record.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Darfur: ICC Prosecutor urges immediate action to address atrocities

    Source: United Nations 4

    By Vibhu Mishra

    Peace and Security

    The Prosecutor of the International Criminal Court (ICC) on Monday called on the UN Security Council to act decisively to address the worsening atrocities in Sudan’s Darfur region.

    Briefing ambassadors, Karim Khan highlighted the urgent need for justice and accountability as violence and humanitarian suffering escalate.

    “Criminality is accelerating in Darfur. Civilians are being targeted, women and girls are subjected to sexual violence, and entire communities are left in destruction,” he said.

    “This is not just an assessment; it is a hard-edged analysis based on verified evidence.”

    Violence in Darfur has displaced thousands of families and devastated the region, with vital civilian infrastructure attacked, civilians killed and communities suffering from famine and disease.

    Deepening crisis

    The gravity of the situation in the wider region was underscored by UN Secretary-General António Guterres, who condemned a 24 January attack on the Saudi Teaching Hospital in El Fasher, North Darfur.

    At least 70 patients and their relatives were reportedly killed, and dozens more injured.

    “This appalling attack which affected the only functioning hospital in Darfur’s largest city comes after more than 21 months of war have left much of Sudan’s health care system in tatters,” Stéphane Dujarric, Spokesperson for the Secretary-General, said in a statement.

    The Secretary-General reiterated that international humanitarian law mandates the protection of medical facilities and personnel and that the deliberate targeting of such facilities may constitute a war crime.

    He also renewed his call for an immediate cessation of hostilities and a sustainable, inclusive political dialogue to end the conflict.

    Echoes of past crimes

    Mr. Khan urged the 15-member Council to recommit to the principles outlined in resolution 1593, adopted 20 years ago, which referred the situation in Darfur to the ICC.

    “We hear those echoes that gave rise to the original referral,” he said, warning that a new generation is suffering the same atrocities endured by their parents.

    The ICC Prosecutor announced that his office is preparing applications for new arrest warrants tied to alleged crimes committed in West Darfur.

    He emphasised that these applications would only proceed with robust evidence to ensure a realistic prospect of conviction, reinforcing the ICC’s commitment to justice for victims.

    Mr. Khan also stressed the need for greater cooperation in transferring ICC fugitives, including former President Omar al-Bashir and other high-ranking officials accused of war crimes and crimes against humanity.

    Deja vu

    The ICC Prosecutor also painted a grim picture of Darfur’s humanitarian and security landscape.

    “The same communities targeted 20 years ago are suffering today, with crimes being used as weapons of war,” Mr. Khan stated, stressing that such acts violate international humanitarian law and demanded an immediate halt to the violence.

    The trial of Ali Kushayb

    Mr. Khan also highlighted the significance of the ICC trial of Ali Muhammad Ali Abd-Al-Rahman, also known as Ali Kushayb, addressing crimes committed in 2003 and 2004.

    This trial has shown the people of Darfur that they are not forgotten and “not airbrushed out of public consciousness” he said, highlighting the efforts made by Darfuris themselves to ensure justice and accountability.

    Mr. Khan concluded by emphasising the moral and legal responsibility of the international community to deliver justice.

    “The people of Darfur are in danger, and they have a right to justice. It is time to deliver on the promise of resolution 1593,” he said.

    “It is time for us collectively to join hands and deliver on that promise to prevent this constant cycle of despair that generations of Darfuris have suffered.”

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Have you seen Thomas Basire?

    Source: New Zealand Police (National News)

    Attribute to Detective Senior Sergeant Martin Todd

    Police are asking for the public’s help to locate a Hutt Valley man who has been missing for two months.

    Thomas Basire, 28, was last seen near the Ewen Bridge on Railway Ave, walking on the stop bank towards Petone on 24 November 2024.

    Tom was wearing a red long-sleeved sweatshirt, black trousers and black sneakers at the time of his disappearance.

    Today, Police have a specialist search team conducting a search of the Hutt River and riverbank.

    It is out of character for Tom to not be in contact with his family, especially to miss seeing his family on his birthday in December.

    Both Police and Tom’s family have serious concerns for his wellbeing and would like to know he is safe.

    If you have any information on Tom’s whereabouts, please update us online now or call 105, quoting reference number 241213/6143.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Australia: A plan for Central Coast maternity services

    Source: New South Wales Premiere

    Published: 28 January 2025

    Statement by: Minister for the Central Coast

    Last week the Member for The Entrance, the Member for Gosford, a representative for the Member for Swansea and I met with executives from the Central Coast Local Health District (CCLHD), the NSW Ministry of Health and Minister for Health Ryan Park’s office to express the concerns of the Central Coast community about maternity service provision on the Coast.

    The CCLHD is developing a Clinical Services Plan for Women, Children and Families on the Central Coast which addresses both the closure of Gosford Private Hospital’s maternity services and the region’s projected population growth.

    It’s important to note there is no reduction in public maternity services on the Central Coast and expectant mothers wishing to have their birth on the Coast will be able to do so.

    Gosford Hospital provides 24-hour midwifery, obstetric, anaesthetic, and paediatric support including a Special Care Nursery to support the maternity needs of the Central Coast community.

    Wyong Hospital also continues to provide care through the Midwifery Group Practice and Gosford outreach Midwife-led Antenatal Clinic.

    In late 2023, the CCLHD introduced a Midwifery Group Practice Homebirth Service to provide local women with more choice about where they give birth.

    We were advised the CCLHD is actively recruiting specialist maternity clinician staff.

    I look forward to viewing the Clinical Services Plan which is being developed to ensure the maternity needs of the Central Coast community continue to be met.

    MIL OSI News –

  • MIL-OSI Security: Yukon — Superintendent Lindsay Ellis is appointed as Commanding Officer of the Yukon RCMP

    Source: Royal Canadian Mounted Police

    This is a joint news release between the Government of Yukon and the Yukon Royal Canadian Mounted Police.

    The Commissioner of the RCMP, Mike Duheme, has appointed Superintendent Lindsay Ellis to the role of Commanding Officer of the Yukon. This change takes effect immediately and brings Superintendent Ellis to the rank of Chief Superintendent.

    Both the Government of Yukon and the RCMP would like to extend their congratulations to Chief Superintendent Ellis on her new role.

    Chief Superintendent Ellis has a rich history of policing in the Yukon for over 12 years and was promoted to Superintendent in 2022 as the Criminal Operations Officer of M Division. During this time, her focus on public safety, modernization of policing services for frontline and specialized units and increased policing accountability has strengthened and enhanced policing across the territory.

    Chief Superintendent Ellis has fostered genuine relationships with Yukon First Nations and diverse groups while promoting collaboration, inclusion and communication across business lines. Her work, relationships and dedication to policing in the territory has resulted in great success under Criminal Operations and the Division increasing Yukoners’ trust in the RCMP.

    Chief Superintendent Ellis has been acting as the Commanding Officer of the Yukon RCMP since September 2024.

    The Government of Yukon and the RCMP would also like to thank Chief Superintendent Scott Sheppard for his many outstanding years of service as the Commanding Officer of the Yukon.

    “I would like to congratulate Chief Superintendent Lindsay Ellis. This appointment recognizes her exceptional work ethic, forward-thinking approach to policing services and outstanding leadership in the Yukon. Chief Superintendent Lindsay Ellis is an example of the important and vital role women have in the RCMP and she is the first female Commanding Officer for the M Division of the Yukon RCMP. I also extend my sincere gratitude to Chief Superintendent Scott Sheppard for his many years of service.” – Minister of Justice Tracy-Anne McPhee

    “I am deeply honoured and grateful for the opportunity to lead M Division in delivering policing in the Yukon as the new Commanding Officer. During my 12 years serving in the Yukon, I have been proud to promote the work of our amazing RCMP employees while developing strong, sustainable and transferable relationships with our communities, partners and stakeholders to improve public safety outcomes. I am equally as proud of our advancements to the reconciliation journey through ongoing genuine and honest effort, action and leadership to support safe and healthy Yukon First Nations. As the new leader of the RCMP in the Yukon, I look forward to continuing to provide modern policing services unique to Yukon community needs. I extend my heartfelt appreciation to Chief Superintendent Scott Sheppard for his progressive and strong leadership, and my best wishes for his retirement that he will be enjoying as a Yukoner. Thank you to the employees of “Mighty M” as we continue to promote a positive, resilient and adaptive workplace as the National and the Territorial Police Service. Thank you, merci, Mäshi Cho, Shä̀w níthän, Gunalchéesh and Souga Sinla.” – Commanding Officer of the Yukon RCMP Chief Superintendent Ellis

    “It is my pleasure to announce that Chief Superintendent Lindsay Ellis has been appointed as the Commanding Officer of the RCMP in the Yukon. Chief Superintendent Ellis has served Canadians for 24 years with 12 of those years dedicated to improving public safety for Yukoners. I am confident that Chief Superintendent Lindsay Ellis will be an exceptional leader for the RCMP in the Yukon.”- Commissioner of the RCMP Mike Duheme

    Quick facts:

    Chief Superintendent Ellis Lindsay is the first female and 41st Commanding Officer for the M Division of the Yukon RCMP.

    The Commissioner of the RCMP has authority per the RCMP Act to appoint a Commanding Officer.

    MIL Security OSI –

  • MIL-OSI Security: Two Memphis Men Sentenced to Federal Prison for Possession of Machineguns

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Memphis, TN – Jermaine Brown, 19, and Alvin McGee, 23, both of Memphis, have each been sentenced to federal prison for possession of a machinegun. Acting United States Attorney Reagan Fondren, announced the sentences today.

    According to the information presented in court, on July 10, 2023, Memphis Police Department officers observed Brown and McGee driving in a stolen Hyundai Sonata through the Kensington Manor apartment complex and attempted to stop the vehicle. When the vehicle reached a dead end, the driver, Jermaine Brown, and front passenger, Alvin McGee, both jumped out of the moving vehicle, which crashed into a dumpster. Brown had a Glock .40 caliber pistol with an attached Machinegun Conversion Device (commonly referred to as a “switch”) that was loaded with 17 rounds.  Brown threw the machinegun after a short foot pursuit.  McGee had a Radical Firearms AR-15 style .223 caliber rifle with approximately 60 rounds and a “drop-in auto sear,” which turns the rifle into a machinegun, and he also fled from the police.  Officers apprehended McGee quickly.  

    Brown and McGee were indicted in December 2023 for possession of machineguns.

    On July 12, 2024, Brown pled guilty before Senior United States District Judge Jon Phipps McCalla and was sentenced on November 8, 2024 to 27 months in federal prison, to be followed by three years of supervised release.

    On October 18, 2024, McGee pled guilty before Judge McCalla and was sentenced on January 24, 2025 to 41 months in federal prison, to be followed by three years of supervised release.

    There is no parole in the federal system.  

    This case was investigated by the Memphis Police Department and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).

    Assistant United States Attorney Greg Wagner prosecuted this case on behalf of the government. Acting United States Attorney Fondren thanked the law enforcement partners who assisted in this case.

    ###

    For more information, please contact the Media Relations Team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.

    MIL Security OSI –

  • MIL-Evening Report: PNG media policy ‘new era journalism’ draft law ready, says Masiu

    NBC News in Port Moresby

    Papua New Guinea’s cabinet has officially given the green light to the PNG media policy, which will soon be presented to Parliament for formal enactment.

    Minister for Information and Communication Technology (ICT) Timothy Masiu believes this policy will address ongoing concerns about sensationalism, ethical standards, and the portrayal of violence in the media.

    In an interview with NBC News in Port Moresby, Masiu outlined the urgent need for a shift in the nation’s media practices.

    PNG’s Information and Communication Technology Minister Timothy Masiu . . . “It’s time for Papua New Guinea’s media to evolve and reflect the values that truly define us.” Image: NBC News

    “We must be more responsible in how we report and portray the issues that matter most to our country. It’s time for Papua New Guinea’s media to evolve and reflect the values that truly define us,” he said.

    “Sensational headlines, graphic images of violence, and depictions of suffering do nothing to build our national identity. They only hurt our reputation globally.”

    Minister Masiu said the policy aimed to regulate sensitive contents and shift towards “more constructive and informative” coverage.

    According to Masiu, the policy’s long-term goal was to protect the public from harmful content while empowering journalists to play a positive role in nation-building.

    “This policy isn’t about stifling press freedom. It’s about ensuring that media in Papua New Guinea serves the public good by upholding the highest standards of integrity and professionalism,” Masiu said.

    Meanwhile, the policy also acknowledged the media’s significant influence on public opinion and its role in national development.

    Masiu added that once the policy was passed into law, it would become a guiding framework for media institutions across the nation, laying the foundation for a new era of journalism in Papua New Guinea.

    Republished from NBC News.

    Persistent criticism
     Pacific Media Watch reports that the draft media policy law and consultation process have been controversial and faced persistent criticisms from journalists, the PNG Media Council (MCPNG) and Transparency international PNG.

    Version 5 of the policy is here, but it is not clear whether that is the version Masiu says is ready.

    PNG dropped 32 places to 91st out of 180 countries in the 2024 RSF World Press Freedom Index and the Paris-based world press freedom watchdog RSF called on the Marape government to withdraw the draft law in February 2023.

    Civicus references an incident last August when a PNG journalist was barred from a press briefing by the visiting Indonesian president-elect Prabowo Subianto and said this came “amid growing concern about the government’s plan to regulate the press under its so-called media development policy”.

    MIL OSI Analysis – EveningReport.nz –