NewzIntel.com

Category: Agriculture

  • MIL-OSI USA: July 22nd, 2025 Heinrich Votes Against Republicans’ Legislation to Defund Public Broadcasting, Harm New Mexicans’ Safety

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich
    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.) stood firm for New Mexico families by voting against Senate Republicans’ rescissions package that cuts funding to local public radio and TV stations, which rural communities and Tribes rely on as their primary source of information during life-or-death emergencies like wildfires, flash floods, and other catastrophic natural disasters.
    “First, Republicans pushed through the largest Medicaid cut in American history. Now, they’ve slashed the only lifeline rural communities and Tribes rely on during life-or-death emergencies like wildfires and flash floods. Republicans’ cuts to local public radio and TV stations are reckless, dangerous, and put New Mexicans directly in harm’s way. All of this to bankroll massive tax giveaways for Trump’s billionaire donors,” said Heinrich, a member of the Senate Appropriations Committee.
    Below are the New Mexico radio and TV stations whose federal funding is now at risk thanks to Republicans’ rescissions bill:
    Radio
    KSHI-FM, Zuni
    KGLP-FM, Gallup
    KABR-FM, Alamo
    KSJE-FM, Farmington
    KENW-FM, Portales
    KCIE-FM, Dulce
    KTDB, Pine Hill
    KSFR-FM, Santa Fe
    KANW-FM, Albuquerque
    KHFM-FM (Albuquerque)
    KUNM-FM (Albuquerque)
    KRWG-FM, Las Cruces
    TV
    KENW-TV, Portales
    New Mexico PBS KNME-TV (Albuquerque)
    KRWG-TV (Las Cruces)
    During the Reconciliation votes, Senate Republicans blocked Heinrich’s efforts to:
    Protect Public Radio and TV
    Prohibit defunding public radio and television stations that primarily serve rural and Tribal communities.
    Prohibit defunding the Corporation for Public Broadcasting (CPB).
    Protect public radio and television stations that are partners in the Emergency Alert System.
    Protect access to children’s education programming through public television.
    Promote American Values and Counter the People’s Republica of China (PRC) and Russia Influence Globally
    Prevent cuts to funding that counters malign-PRC and Russian influence globally, including to counter Russian aggression in Ukraine.
    Ensure the United States can maintain our long tradition of providing life-saving aid, including food and medicine.
    Maintain the United States’s position as a global leader in humanitarian assistance.
    Combat child marriages and feed children around the world.
    Protect funding for child health, global health security, and to treat and prevent tuberculosis, malaria, and other diseases
    Protect funding for international organizations and life-saving programs, including UNICEF other large-scale humanitarian and hunger prevention programs.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Announces Another Trump Cabinet Member as Featured Speaker at Entrepreneur Expo

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), chair of the Senate Committee on Small Business and Entrepreneurship, announced that Environmental Protection Agency (EPA) Administrator Lee Zeldin will be a featured speaker at her upcoming Entrepreneur Expo.
    The third annual event, taking place at Iowa State University on Tuesday, August 12, will provide Iowa small businesses an unparalleled chance to learn about opportunities across the federal marketplace with networking and hands-on instruction.
    “Administrator Zeldin has been a champion for small businesses in Washington, and I have proudly worked with him to reform the harmful WOTUS rule and slash costly red tape,” said Ernst. “His work has empowered entrepreneurs to be able to spend less time sorting through a mountain of paperwork and more time on the shop floor, out in the fields, or serving their customers. His expertise will be invaluable to expo attendees, and I am excited to welcome him back to the great state of Iowa!”
    “Senator Ernst is a fierce advocate for Iowa small business owners and farmers. I am very excited to join her Entrepreneur Expo next month,” said Zeldin. “In the first six-months of the Trump Administration, we have been full steam ahead working hard to provide relief for Americans by protecting our precious environment while rolling back onerous regulations that have held back our economy. EPA’s goal is to get out of the way and make it easier, not harder, for American businesses to prosper. I look forward to meeting many hard working Iowans and am eager to solicit their feedback and input as we Power the Great American Comeback.”
    Click here to learn more and RSVP for the event.
    Background:
    Small Business Administration (SBA) Administrator Kelly Loeffler will also be a featured speaker at the expo.
    Last year, 40 federal and state entities came to Ernst’s Expo to connect with small businesses on opportunities in federal contracting and innovation programs.
    Hundreds of Iowans attended Ernst’s 2023 Expo, which featured 31 federal and state entities.

    MIL OSI USA News –

  • MIL-Evening Report: UK bans Gaza protest group – could the same thing happen in Australia?

    Source: The Conversation (Au and NZ) – By Shannon Bosch, Associate Professor (Law), Edith Cowan University

    More than 100 people were arrested in the United Kingdom on the weekend for supporting Palestine Action, a protest group that opposes Britain’s support of Israel.

    Palestine Action was recently proscribed as a terrorist organisation, placing it in the same category as Hamas, al-Qaeda and Islamic State.

    Many of those arrested were simply holding signs that read: “I oppose genocide, I support Palestine Action”. They were predominantly aged over 60.

    In recent weeks, an 83-year-old vicar, a former government lawyer and various pensioners have been taken into custody and could be jailed for up to 14 years if found guilty of belonging to the protest group.

    Simply holding a sign or wearing a T-shirt with the words “Palestine Action” could be punishable with a six-month jail term.

    The protesters say they refuse to be silenced:

    If we cannot speak freely about the genocide that is occurring […], if we cannot condemn those who are complicit in it […] then the right to freedom of expression has no meaning, and democracy and human rights in this country are dead.

    Police arresting protestors calling for the terrorism ban to be overturned.

    So what is Palestine Acton and why is “middle England” up in arms over its designation as a terrorist group?

    Activist network

    Palestine Action is a UK-based activist network founded in 2020 with the stated aim of “ending global participation in Israel’s genocidal and apartheid regime”.

    The group views the British government as complicit in Israeli war crimes in Gaza. It also aspires to halt UK arms exports through disruptive protests and vandalism.

    Members have generally targeted Israeli-linked businesses, such as defence company Elbit Systems, by damaging equipment or blocking entrances.

    Supporters include grassroots activists, civil liberties advocates, health professionals, clergy and prominent figures such as Pink Floyd musician Roger Waters.

    Serious concerns

    Palestine Action was officially proscribed in the UK on July 5, after campaigners sprayed paint into the engines of two Voyager aircraft at an air force base.

    The final vote was overwhelming: 385 MPs supported the ban, while just 26 opposed it.

    Under the Terrorism Act 2000, membership, support, or public endorsement of a proscribed group is a criminal offence punishable by sentences up to 14 years.

    The UK government argues the group’s actions exceeded legal protest and raised serious security concerns.

    Since then, scores of people have been searched and arrested at rallies in support of Palestine Acton.

    Blurring the lines

    Critics, including Amnesty International, civil liberties groups and The Guardian editorial board warn the ban blurs the line between non-violent civil disobedience and terrorism. They argue it also threatens democratic dissent through a statutory abuse of power.

    Counter-terrorism laws permit extraordinary interference in due process and other fundamental human rights protections. Consequently, they must always be used with the highest degree of restraint.

    The UK already had legislation in place to deal with criminal damage and violent disorder.

    United Nations legal and human rights experts have spoken out against treating the actions of protesters who damage property without the intent to injure people as terrorism:

    According to international standards, acts of protest that damage property, but are not intended to kill or injure people, should not be treated as terrorism.

    Abuse of power

    Designating Palestine Action as a terrorist organisation appears to be aimed at curtailing free expression, the assembly and association of those who support the protest action against Israel’s war on Gaza.

    Placing it in the same legal category as Hamas seems designed to reduce public sympathy for the group.

    Palestine Action is challenging its proscription in the UK High Court. Lawyers for the group argue the Joint Terrorism Analysis Centre has assessed the vast majority of its activities to be lawful:

    On nature and scale, the home secretary [Yvette Cooper] accepts that only three of Palestine Action’s at least 385 actions would meet the statutory definition of terrorism […] itself a dubious assessment.

    The lawyers further argue proscription was “repugnant” and an “authoritarian abuse of power”.

    Australian version?

    There are no indications from the intelligence community that any direct affiliate of Palestine Action (UK) operates in Australia.

    However, there are pro-Palestinian activist organisations, including a Palestine Action Group Sydney, which is part of the Australian Palestine Advocacy Network (APAN).

    Broader solidarity movements such as Students for Palestine, are active in protests on university campuses and against arms shipments to Israel.

    Domestic terrorism powers

    Traditional boundaries between “activism”, “extremism”, “hate-crime” and “terrorism” are rapidly blurring in Australia.

    The attorney general may list (“proscription” is a UK term) any organisation as a “terrorist organisation” if they are satisfied it is “advocating terrorism”. This would mean criminalising the expression of support, instruction, or praise of terrorist acts or offences.

    The latest addition to the 31-member list is Terrorgram, an online terrorism advocacy chatroom.

    Australia’s extensive definition of “terrorist act”, currently under review, expressly excludes

    advocacy, protest, dissent or industrial action and which is not intended to cause serious or life-endangering harm or death or to create a serious risk to the safety or health of the public.

    This suggests an Australian version of a Palestine Action undertaking similar conduct to its UK cousin would not meet the legal threshold for listing.

    However, the recent Terrorgram listing makes reference to advocacy for “attacks on minority groups, critical infrastructure and specific individuals”.

    This suggests the UK and Australian governments are becoming more aligned in interpreting “violent” protest to include violence against property, rather than just against people.

    Short of listing, a significant suite of investigative, coercive and preventative executive exists that could be deployed if a similar organisation appears in Australia.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. UK bans Gaza protest group – could the same thing happen in Australia? – https://theconversation.com/uk-bans-gaza-protest-group-could-the-same-thing-happen-in-australia-261562

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Chinese vice premier calls for strengthened agricultural production, poverty alleviation work

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

    Chinese vice premier calls for strengthened agricultural production, poverty alleviation work

    NANNING, July 22 — Chinese Vice Premier Liu Guozhong has urged efforts to strengthen China’s production of key agricultural products, and to consolidate and expand the achievements of the country’s poverty alleviation campaign continuously.

    Liu, who is also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in south China’s Guangxi Zhuang Autonomous Region which began on Sunday and ended on Tuesday.

    During his tour, Liu learned about rice production, the cultivation of sugar plants and the construction of high-standard farmland. He stressed the importance of harvesting early-season rice in a timely manner, of boosting late-season rice yields, of stabilizing the production of sugar plants, and of continuing high-standard farmland development.

    With the ongoing threat of typhoons and flooding, Liu urged immediate action to manage waterlogging and implement measures such as crop replanting to minimize damage.

    He emphasized the need for targeted poverty alleviation measures focusing on stable employment for migrant workers and people who have emerged from poverty. He also highlighted the importance of tapping local strengths to develop rural industries that boost farmers’ incomes.

    MIL OSI China News –

  • MIL-OSI USA: SBA Offers Relief to Arkansas Small Businesses, Private Nonprofits and Residents Affected by April Storms and Flooding

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Arkansas small businesses, private nonprofits and residents affected by severe storms, tornadoes and flooding occurring April 2‑22. The SBA issued a disaster declaration in response to a request received from Gov. Sarah Sanders on July 18.

    The disaster declaration includes the Arkansas counties of Cross, Hempstead, Lawrence and Little River.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”

    Interest rates are as low as 4% for businesses, 3.625% for nonprofits and 2.75% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is Sept. 22, 2025. The deadline to return economic injury applications April 22, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Federated Farmers Statement on Greenpeace

    Source: Federated Farmers

    Federated Farmers Statement: Greenpeace vandals must lose charitable status

    Federated Farmers is renewing its call for Greenpeace to be stripped of its charitable status immediately, following the extreme activist group’s latest illegal publicity stunt.

    “Greenpeace need to be held accountable for their repeated illegal activity and the spread of harmful misinformation,” Southland Federated Farmers president Jason Herrick says.
    “How can they be recognised as a charity when they’re breaking all kinds of laws trespassing on private property, vandalising public property, and intimidating the community?
    “Last night’s vandalism of the world-famous trout statue in Gore reinforces why these activists need to lose their status as a charity. I think it’s a total abuse of charitable status.”
    Herrick says Greenpeace’s vandalism of the statue and welcome sign is a shameless attempt to divide the small rural community and spread anti-farming propaganda.
    “These activists are total cowards who are slinking around in the shadows vandalising property under the cover of darkness,” Herrick says.
    “There’s a reason they’ve done this at night. They knew it was dodgy behaviour – and that they’d never get away with it in Gore during daylight hours.
    “We’re a tight-knit community down here in Southland. Farming plays a huge role in not only our local economy, but in our social fabric too.
    “There’s no way we’re going to put up with this nonsense. Greenpeace should hang their heads in shame.”
    In April, Federated Farmers called for the Government to immediately strip Greenpeace of its charitable status after the group’s illegal occupation of Port Taranaki.
    Charitable status in New Zealand is intended to support organisations that advance public benefit through education, relief of poverty, and other recognised charitable purposes.
    Under the Charities Act, organisations must operate for the public good and not primarily serve political or advocacy purposes.
    Herrick says he sees Greenpeace’s ongoing illegal activity as clear evidence that it no longer meets these criteria for charitable status.
    “There are plenty of amazing, honest charities doing fantastic work out there – but Greenpeace is not one of them.
    “It’s become little more than an extreme activist group that’s disrupting legitimate businesses and spreading harmful misinformation – repeatedly and deliberately.”
    Federated Farmers lodged a formal complaint with Charities Services in April, requesting a formal inquiry into Greenpeace’s conduct and eligibility for charitable status.
    A copy was also sent to Community and Voluntary Sector Minister Hon Louise Upston and Minister of Internal Affairs Hon Brooke van Velden.
    The complaint focuses on Greenpeace’s repeated involvement in premeditated unlawful protest activity.
    That includes the 2024 protest at Fonterra’s Te Rapa dairy factory where seven individuals were arrested, and last year’s occupation of Straterra’s Wellington office, where five were arrested during a staged lockdown.
    “We urge Charities Services to act decisively on our existing complaint and strip Greenpeace of its charitable status quickly,” Herrick says.
    “I can’t see any way they meet the requirements for registration under the Charities Act 2005.
    “Hardworking Kiwi taxpayers should not be forced to subsidise their illegal attacks and extremist political agendas through tax breaks for their donors.
    “Law-breaking groups cannot hide behind charitable privileges while threatening livelihoods with misinformation about farming.”
    Herrick says it’s not just Greenpeace that needs to be held accountable for how it’s operating as a charity.
    “I think Charities Services and the Government need to be held accountable too and answer some tough, but fair, questions about how this rort of the rules is being allowed to continue.
    “There is absolutely no way Greenpeace should be allowed to constantly break the law and still be recognised as a charity.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: Tiffany’s Legislation to Help Wabeno Small Business Clears House

    Source: United States House of Representatives – Representative Tom Tiffany (WI-07)

    WASHINGTON, DC –Today, Congressman Tom Tiffany’s (WI-07) Wabeno Economic Development Act passed the U.S. House of Representatives with overwhelming bipartisan support. H.R. 3937 will expedite the conveyance of 14 acres of land in the Chequamegon-Nicolet National Forest to Tony’s Wabeno Redi-Mix for fair market value.

    After years of not making progress with the U.S. Forest Service, Tony—the owner of Tony’s Wabeno Redi-Mix—turned to Congressman Tiffany’s office for help. His business is running out of nearby aggregate materials like stone, sand, and gravel, and they will exhaust supply in approximately 2 years. The adjacent parcel is critical for the business’s future and ability to stay in operation.

    “This conveyance will deliver long-term economic growth and protect local jobs for the people of Wabeno and Forest County,” said Congressman Tiffany. “It will ensure Tony’s Wabeno Redi-Mix stays open and continues serving the community for years to come.”

    Background:

    Tony’s Wabeno Redi-Mix has been serving the community for 25 years and currently employs 17 people. The company provides concrete for both contractors and homeowners across a 50-mile radius. Projects include large-scale work for the Forest County Potawatomi Community, local fire and rescue stations, town shops and offices, agricultural projects for local farmers, and residential construction and remodeling.

    Tony first began working with the Forest Service on this land exchange more than eight years ago. However, the agency made it clear the project was not a priority and lacked the resources to complete it. With much of Forest County under federal ownership as part of the Chequamegon-Nicolet National Forest, there is limited private land available for small business expansion.  

    This legislation is supported by the Wabeno Area Chamber of Commerce, the Forest County Economic Development Partnership, and the Town of Wabeno. Tom Tallier, Forest County Board Supervisor for District 8, offered key testimony in favor of the bill last year.

    You can view Rep. Tiffany’s comments on the House floor here, and Rep. Debbie Dingell’s (MI-06) floor statement of support here. You can read the full text of the bill here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Tiffany’s Legislation to Help Wabeno Small Business Clears House

    Source: United States House of Representatives – Representative Tom Tiffany (WI-07)

    WASHINGTON, DC –Today, Congressman Tom Tiffany’s (WI-07) Wabeno Economic Development Act passed the U.S. House of Representatives with overwhelming bipartisan support. H.R. 3937 will expedite the conveyance of 14 acres of land in the Chequamegon-Nicolet National Forest to Tony’s Wabeno Redi-Mix for fair market value.

    After years of not making progress with the U.S. Forest Service, Tony—the owner of Tony’s Wabeno Redi-Mix—turned to Congressman Tiffany’s office for help. His business is running out of nearby aggregate materials like stone, sand, and gravel, and they will exhaust supply in approximately 2 years. The adjacent parcel is critical for the business’s future and ability to stay in operation.

    “This conveyance will deliver long-term economic growth and protect local jobs for the people of Wabeno and Forest County,” said Congressman Tiffany. “It will ensure Tony’s Wabeno Redi-Mix stays open and continues serving the community for years to come.”

    Background:

    Tony’s Wabeno Redi-Mix has been serving the community for 25 years and currently employs 17 people. The company provides concrete for both contractors and homeowners across a 50-mile radius. Projects include large-scale work for the Forest County Potawatomi Community, local fire and rescue stations, town shops and offices, agricultural projects for local farmers, and residential construction and remodeling.

    Tony first began working with the Forest Service on this land exchange more than eight years ago. However, the agency made it clear the project was not a priority and lacked the resources to complete it. With much of Forest County under federal ownership as part of the Chequamegon-Nicolet National Forest, there is limited private land available for small business expansion.  

    This legislation is supported by the Wabeno Area Chamber of Commerce, the Forest County Economic Development Partnership, and the Town of Wabeno. Tom Tallier, Forest County Board Supervisor for District 8, offered key testimony in favor of the bill last year.

    You can view Rep. Tiffany’s comments on the House floor here, and Rep. Debbie Dingell’s (MI-06) floor statement of support here. You can read the full text of the bill here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: GOP Senator Reveals the ‘Dirty’ Secret to Trump’s Make America Healthy Again Movement

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington – U.S. Senator Roger Marshall, M.D. (R-Kansas) sat down with Fox News Digital to discuss the nearly 30 bipartisan bills he has proposed for his Make America Healthy Again (MAHA) legislative package. Senator Marshall is the chairman of the MAHA Caucus.
    Read the full article HERE or below:
    GOP Senator Reveals the ‘Dirty’ Secret to Trump’s Make America Healthy Again Movement
    Alex Miller
    Fox News Digital
    July 18, 2025
    For one lawmaker, the path to making Americans healthier starts in the dirt.
    Sen. Roger Marshall, R-Kan., has styled himself as an early adopter of the Make America Healthy Again movement, a political slogan born on the 2024 campaign trail that has since seen major companies tweak their products to nix artificial additives.
    But Marshall sees the initiative, commonly known as MAHA, as one that can start sooner than switching the oil in deep friers or swapping out high-fructose corn syrup for cane sugar in soda.
    He has his own four pillars of MAHA, which include dialing up efficiency in agriculture; healthier, more nutrient-rich food; affordable access to primary care healthcare; and addressing mental health challenges among young people.
    But it all starts below the surface with soil health.
    “Soil is a dirty topic, you know, pun intended,” Marshall told Fox News Digital in an interview.
    MAHA diehards and farmers are, at a surface level, at odds with one another, he said. For example, returning to an entirely organic food production process devoid of fertilizers would create healthier food, but also crank up the costs on consumers and strain farmland.
    Earlier in the week, Marshall held a roundtable with Agriculture Secretary Brooke Rollins and Secretary of Health and Human Services Robert F. Kennedy Jr. to try and bridge that gap.
    “Soil health seems to be the common ground,” he said. “So healthy soil meets healthy food meets healthy people. Rather than MAHA telling these farmers what you can and can’t do, we wanted to say, ‘What’s our goal here?’ If we have the same goals, then we’re going to figure this out. Well, the goal is healthy soil.”
    Getting those two in a room together, along with experts on regenerative agriculture, which is a more holistic approach to farming that targets soil health by restoring and enhancing ecosystems, is just a part of his plan.
    He also intends to drop a massive package of bills that is divided up into categories that echo his four pillars, including legislation geared toward health care, mental health, nutrition and agriculture.
    Among the nearly 30 bills and amendments in the package is one Marshall is particularly keen to see codified. The Plant Biostimulant Act would spur usage of organisms that can be placed into the soil and that latch onto the roots of plants that absorb nitrates and more water, he said.
    The bill ties in directly with his passion for regenerative agriculture, which uses fewer fertilizers, water and other status-quo farming techniques to produce healthier foods on more sustainable farmland, which, in turn, would yield a cheaper, more nutritious diet for Americans.
    “It’s growing more with less,” he said.
    Among the various, bipartisan pieces of legislation from both chambers are bills that would push mobile cancer screenings with grant funding, add mental health warnings for kids scrolling through social media, require more transparency in food ingredients, expansion of employer healthcare coverage for chronic diseases, and measures that would allow bleeding edge soil health technology and processes to be considered conservation practices and eligible for Farm Bill funding, among others.
    Most bills need to get 60 votes to pass in the Senate, Marshall noted, and that led to a desire to incorporate as many bipartisan measures in the package as possible. It’s also a topic that, in spite of the political polarization in Washington, “unites us, rather than divides us.”
    Still, with President Donald Trump in office, he sees the chance for the measures to pass as a kind of now or never moment.
    “We’re seeing a time in our lives where the incidence of cancer, the age of cancer, is growing younger and younger, the age of Alzheimer’s onset is growing younger and younger, and we believe it’s an inflammatory reaction to the food that we’re eating that leads to all that,” he said.
    “We think heart disease, hypertension, is really an inflammatory reaction… to the food we’re eating and the constantly high sugar levels in our blood system,” he continued. “So absolutely, I think, seize the moment. This is it.”

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Tuberville Joins Kudlow to Highlight President Trump’s Wins in First Six Months in Office

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined Larry Kudlow on Fox Business Network to highlight some of President Trump’s many wins since taking office six months ago, including historic tax cuts, increased military recruitment, protecting female athletes, securing the southern border, and making our food healthier.

    Excerpts from the interview can be found below and the full interview can be viewed on YouTube or Rumble.

    KUDLOW: “So Senator Tuberville, I think one of the themes here—this is something we’ve talked about. Victor Davis Hanson has been writing about this. The experts were wrong. Trump got this stuff done. In particular, the southern border—which is virtually flat now, virtually empty—no crossings. We didn’t need new legislation, right? Remember that push? We just needed somebody who was tough enough to enforce the laws. Let’s start with that one, okay? Immigration. How about that? Maybe his greatest achievement.”

    TUBERVILLE: “Well, you’re exactly right and one of the repercussions of the immigration stoppage of keeping very few illegals coming to our country—we’re saving $40 billion dollars to this point in this budget. $40 billion dollars. And that’s going to count up. We could not afford for Kamala Harris to win this election because it would have been a disaster, just for the immigration alone, which would [have] just stair-stepped everything to becoming a disaster when it come to the economy.”

    KUDLOW: “And you know Senator, the Democrats have to be crazy and just out of their minds to oppose this, okay? They’re still defend[ing]—and they’re still in the business of defending sanctuary cities and of defending the worst of the worst criminals. And we just had this awful shooting of a border agent in New York City. And DHS secretary Kristi Noem correctly just blasted New York City Democrats. They got a mayor—the Socialist mayor, Communist mayor, whatever he is—Mamdani the Commie. He wants to keep ICE agents out. He wants to keep Netanyahu out. He wants to keep Trump out. I mean, how can the Democrats be so stupid? I call them experts. They’re really just deep state people who arejust on the wrong side of all these issues.”

    TUBERVILLE: “Well, the wrong side, and that’s the only side they can reach to, Larry, for votes. They have to have votes, and they’re looking for somewhere to get votes. This sanctuary city nonsense—it’s unlawful. People are going to get hurt more and more when you hang out in these sanctuary cities. But all they’re doing is pushing socialism, and all socialism is just—it’s communism without a gun, at the end of the day. And so, we need to understand the direction this country’s going if the Democrats have an opportunity to get a leg back into this country in terms of leadership. That’s not going to happen. As you just said, I was at that dinner in the White House Friday night when President Trump was going through all those wins that we’ve had. It’s just amazing to me that it takes so long to go through them, our dinner got cold. But at the end of the day, it was so fun to listen to all that. It’s just amazing what he’s done in six months.”

    KUDLOW: “So the experts were wrong, tariffs are not inflationary, real wages are actually going up, the stock market is now hitting new record highs. I believe today, both the NASDAQ and the SMP hit new record highs. But here’s one for you, which I think is very important: in six months, military recruitment—new military recruitment—Pete Hegseth, Defense Secretary, Donald Trump, President of the United States and Commander in Chief—new military recruitment has gone sky high, record levels. What do you make of that, Senator?”

    TUBERVILLE: “Well, I’ll tell you why, people—these young men and women—are feeling good about our country again. They’re not being told that they’re woke, and they need to be social justice warriors. They’re doing it for the right thing. They’re doing it to protect our country. But it’s also a great way to get an education. It’s a great job. But it wasn’t sold that way by the Democrats. It was sold by the Democrats as ‘Hey, be part of a basically a clown show,’ and that’s what it was turning into. I’m on Armed Services. I’ve never seen anything like the recruiting that was going on. The books that our generals were telling our troops to read, whether it was on ships or in in some of these camps—it’s just amazing to me the direction where we were going.”

    KUDLOW: “Well, here’s another one then. We obliterated Iran, but the deep state experts said, ‘No. No. No. If we hit Iran, it would cause a massive blow-up and war throughout the Middle East and the rest of the world.’ What I don’t see is any of that stuff. In fact, we’re—I guess, we’re at a ceasefire, de facto, if not de jure. But the point is he obliterated the Iran nuclear program. None of them under the Bidens or the Obamas or anybody else had the backbone, I’ll call it, to do such a thing. You know what I mean? Here—tough wins, okay? Tough always wins.”

    TUBERVILLE: “Yep. President Trump’s a peacemaker. He understands sometimes you have to take the tough decision. Don’t listen to everybody else around you. Go by your instincts. He understood that, hey, there is no possible way we can allow Iran to have a nuclear weapon. And if they’re getting this close as his experts were telling him, we’ve got to do something. And so go in, go out. He set them back probably a year and a half, two years. They can always build back. But who’s to say we won’t go back in there in two years and destroy it again? And it’s cost them a trillion dollars to build this infrastructure up. […]”

    KUDLOW: “Here’s another one: no men in women’s sports. How about that? Commonsense, you wouldn’t have thought. This was like a major battle—a major battle. This was like the Democrats’ last stand, but no men in women’s sports.”

    TUBERVILLE: “Yeah. Of course, I’ve been on this ever since it started. This was my first vote when I got here four years ago. And there’s [been] no Democrats in four years vote on any of my bills about no men and women sports. It’s absolutely insane what they’ve tried to do. And it’s an attack on women. And it doesn’t—I don’t understand this. I must be talking to people from a different planet sometimes when they talk about [how] they need the opportunity to do whatever they want to do. No, they don’t. Men and women have separate identities in terms of physical ability, and they need to be separate in sports and that’s the reason we’ve had it this way for 249 years.”

    KUDLOW: “How about this one? I didn’t put it in my riff, but alright, fancy colleges and universities—no more antisemitism. No more racism. No more affirmative action. And if you don’t play ball, you’re gonna lose your grants, your federal grants. Now that is a tough President doing the right thing. Is he not?”

    TUBERVILLE: “Exactly. Our education is going to hell in a handbasket. And here’s the reason why: it’s become a business, Larry. It’s become a business of making money and doing things to where they can pay their presidents $2 or $3 million dollars each and have their private planes. It’s really gone overboard. But let me give you one: 35-40% of the companies in this country have cut out this poison that we’re putting in our food. And of all the people I talk to, this is one of the major wins that President Trump’s had. We don’t talk about it enough. I’m having dinner with Dr. Oz and some of the people of MAHA tonight, and it’s gonna be a celebration of making a lot of progress in just a short period of time and cleaning up our food.”

    KUDLOW: “Well, I love that. Look, we had Bobby Kennedy on the show. He was absolutely terrific. I gotta stop eating ice cream because they’re always weird dyes. I can’t do that anymore. I’m gonna stick to my—” 

    TUBERVILLE: “Eat vanilla. Eat vanilla, Larry.”

    KUDLOW: “I don’t know. Even vanilla, I can’t be sure anymore. He really shook everybody up. But finally, Senator—and this is a tragedy. Today a Border Patrol agent got shot in New York City. I think people, alright. Kristi Noem—DHS Secretary Noem—is blasting this as part of the New York City problem. This is part of the sanctuary city problem. This is part of the blue city Democratic problem. This is Mamdani the Commie problem. He’s gonna make it worse. I mean, this poor guy got shot for no good reason. Now, this stuff has gotta stop.”

    TUBERVILLE: “It really does have to stop. And again, law enforcement, Customs and Border Patrol, whoever is in authority—protect yourself. President Trump has given them authority to protect themself. It’s unfortunate this young person got shot and shot in the face [is] my understanding. Hope he’s fine. But again, this is not gonna be the end of it, Larry. It’s gonna get worse and worse as we go from here. But they have to protect themselves, give them the right to shoot back if they shoot at them…”

    KUDLOW: “And so, let me ask you. I mean, Democrats defunding the police again. I haven’t heard that this is what Mamdani the Commie wants to do. Defund the police, put social workers in their place. By the way, he’s got a clone who just got the Democratic nomination for mayor out in Minneapolis, unbelievable to me. How can they actually argue that? You got your Mayor Bass. You got your Governor Newsom. You got all these people, okay? They may not come out for defund the police, but they don’t want any law and order when it comes to chasing the worst of the worst of the illegal criminals who should be deported. I mean, honestly, this is the Democratic position. I think I saw poll today. The Democratic Party has an approval rating, Senator, of 19%. How about those apples? 19%.”

    TUBERVILLE: “It’s gonna get worse. Can you imagine [in] Minneapolis, and Chicago, and Detroit, and New York, San Francisco, LA—social workers being the police? What uniform are they gonna wear, first of all? And then are they gonna be armed? It will be a total disaster and it’s a disaster waiting to happen. But [radical Democrats] believe in this. I don’t understand it, but it’ll all get straightened out at the end of the day. They’re not gonna win any of the elections coming up [that] they think they’re gonna win. And President Trump’s gonna keep hammering them every day in terms of making sure we take this social justice nonsense out of everything that we do.”

    KUDLOW: “Yes, sir. Yes, sir. Absolutely. Senator Tommy Tuberville, as always, sir, thank you for your wisdom.”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville, Cruz Introduce Bill Targeting Funders of Violent Interstate Protests

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Ted Cruz (R-TX) in introducing the Stop Financial Underwriting of Nefarious Demonstrations and Extremist Riots (Stop FUNDERs) Act. The legislation would add rioting to the list of Racketeer Influenced and Corrupt Organizations Act (RICO) predicate offenses, giving the U.S. Department of Justice authority to use the full suite of RICO tools against entities who fund or coordinate violent interstate riots, such as the ones recently seen in Los Angeles, California.

    “77 million Americans voted for President Trump and his America First policy agenda – and that includes arresting and deporting illegal aliens,” said Senator Tuberville.“Democrats don’t like that – so they are rioting in the streets and violently attacking law enforcement officers. This cannot stand. My colleagues and I are introducing a bill to make sure the Department of Justice has the tools it needs to go after anti-American terrorist groups and their funders who are protecting illegal rapists, murderers, and criminals. We have to cut these violent riots off at the source. The adults are back in charge, and law and order will prevail.”

    “Every American has the right to freedom of speech and peaceful protest, but not to commit violence,” said Senator Cruz.“Domestic NGOs and foreign adversaries fund and use riots in the United States to undermine the security and prosperity of Americans. My legislation will give the Department of Justice the tools it needs to hold them accountable, and I urge colleagues to pass it expeditiously.”

    U.S. Senators Bill Hagerty (R-TN), Mike Lee (R-UT), Thom Tillis (R-NC), John Cornyn (R-TX), and Josh Hawley (R-MO) also joined the legislation. U.S. Representative Beth Van Duyne (R-TX-24) introduced companion legislation in the U.S. House of Representatives.

    This bill is supported by Heritage Action and National Right to Work Committee.

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville Speaks with Pentagon Nominees During SASC Hearing

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) spoke with Vice Admiral Frank Bradley, President Trump’s nominee to be Admiral and Commander of U.S. Special Operations Command (SOCOM) and Lt. Gen. Dagvin Anderson, President Trump’s nominee to be General and Commander of U.S. Africa Command (AFRICOM) during their Senate Armed Services Committee (SASC) nomination hearing. They discussed SOCOM’s military operations in Panama and Latin America to combat narco-terrorism and secure our southern border, along with the strategic need for having a military presence in Africa.

    Read Sen. Tuberville’s remarks below or on YouTube or Rumble.

    TUBERVILLE: “Thank you, Mr. Chairman. Good morning.

    Thanks [to] both of you. Thanks for what you’ve done for our country over your careers—you and your family. What a sacrifice it’s been, but you’ve done an outstanding job.

    ON SOCOM EFFORTS TO COMBAT NARCO-TERRORISTS:

    “Admiral, I think [for] far too long, we’ve had our eyes on other things and not on our hemisphere—whether it’s illegal migrants, drugs, or both. So, what is [the] Special Operations community doing to assist the militaries and governments in our hemisphere like Panama to combat narco-terrorists?”

    BRADLEY: “Senator, in my current capacity, I’m not privy to all of the activities that SOCOM is engaged in, in the Southern Hemisphere. But in listening and watching General Fenton and his leadership over these last three years, I know that the partnerships that our teams have been engaging in and developing remain critical to being able to help them build capacity, to be able to defend themselves, but also to provide security locally, which, of course, helps to prevent and secure our Southern border as well.”

    TUBERVILLE: “Yeah, I’m sure you’re up on the point of the Darién Gap and the problems that’s caused over the years, and relationship with our Special Ops, down in that area—training people—that will probably be in your forte going forward. What’s your thoughts about cooperation activities with Latin America as [you’re] going into this job?”

    BRADLEY: “Yes, sir. I think as the counterterrorism fight informs us, it is far better to find the root of the problem well away from our borders than it is to have to defend them internal to the United States. And so, if confirmed, making it a priority to provide assistance to all of our combatant commanders as far forward as possible, and with those partnered forces to help them to be able to secure their own territory.”

    ON AMERICAN MILITARY PRESENCE IN AFRICA:

    TUBERVILLE: “Yeah, and we and we have problems all over the world. But if we don’t watch our back door, then we’re gonna [really have] problems within our country, which we already have. General, I think we need to be reinforcing our military presence in Africa. Unfortunately, under the previous administration, we seemed like we were doing just the opposite. Niger—you and I talked about this in a meeting in my office—the vacuum that was caused there. China, Russia, Iran, were all too happy to feel the things that we were doing there. What’s your assessment of our withdrawal from Airbase 201? And have we learned from these lessons? And your thoughts about maybe the future there?”

    ANDERSON: “Senator, I appreciate that question and there was a significant investment that went into that airbase. It was in a key area for us to be able to monitor the threat. So, the loss of that is one that we have to find creative ways to continue to get the indicators and warnings of what the terrorists are doing in that area. I think we also have to understand that there is some volatility across the continent. So how do we make smart investments with the partners that we can continue to sustain. I will say that the relationships that we built in Niger with the military over several decades are still there. There is—when the time is right—I believe there will be an opportunity, but that time will have to be determined. And if confirmed, I’ll look at what that is.”

    TUBERVILLE: “Yeah. After your confirmation, I guess, by telling committee and people even watching at home—why do we need to have [a] presence in Africa? What [are] your thoughts?”

    ANDERSON: “So, Africa is key to any strategy. It’s just on strategic terrain. It’s just the waterways that it forms between the Strait of Gibraltar all the way down to the Suez Canal and the Red Sea. It [has] critical minerals and resources that are on the continent that we need for the future economy. Both China and Russia see their strategies going through the continent, and they are going to engage there and so we can cede that ground or we can compete in that ground. And I think we have a very powerful tool to compete with. As Admiral Bradley mentioned, nobody brings more credibility to the counterterrorism fight than the U.S. As a matter of fact, when we rescued that hostage in Niger, the next morning [there was an] influential blogger that posted, ‘The Americans came like the lion in the night. They killed their enemies and rescued their own.’ No other nation on Earth could do that.And that is a powerful symbol across the continent and around the world of what our military and what the United States is capable of. And I do think that some level of engagement in Africa does matter. I’d agree it’s an economy of force, but a small investment goes a long way so that we don’t have a strategic surprise that then distracts the United States from focusing on the rising threats in the Pacific and other areas.”

    TUBERVILLE: “Thank you. Thanks Mr. Chairman.”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Tuberville Joins the Chris Salcedo Show to Discuss Ways to Expose the Deep State and Protect Law Enforcement

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined Newsmax’s Chris Salcedo Show to discuss DNI Tulsi Gabbard’s recent report exposing the FBI’s involvement in covering up then-Secretary of State Hillary Clinton’s mishandling of classified information. Sen. Tuberville and Salcedo also discussed the Senate’s effort to continue advancing President Trump’s America First policy agenda as well as the Radical Democrat Socialist Party’s violence against law enforcement.

    Excerpts from the interview can be found below and the full interview can be viewed on YouTube or Rumble.

    SALCEDO: “Senator Tommy Tuberville. Senator, it’s always good to see you. DNI Gabbard releases revelations about Obama, Comey, Brennan, and that gang. Now, we learn that James Comey’s FBI rigged the Hillary Clinton investigation so we would never know how badly she damaged our national security when they didn’t probe those crucial thumb drives. Senator, where is your party’s push for accountability?”

    TUBERVILE: “Well, thanks for having me on, Chris. What a colossal cover up this has been. I got here right after Joe Biden took office, and it has been a disaster of […] most Republicans watching this go down. It is a huge cover up.

    They’ve tried to push a narrative that, basically, they wanna change our country [into] something that it’s not. They wanted to take all the ability of us as Republicans, as Americans, to try to keep our country going in the right direction. But the mainstream media, the Democrats, and a few Republicans have pushed this narrative of ‘let’s do it the right way. Let’s make sure we’re doing the right thing.’ It has been something that I’ve been shocked at since I’ve been here. And now we’re finally seeing things start to leak out, the truth of really what happened.

    The American people are going to find out. It is going to be fun up here to watch all this start taking a narrative, a true narrative, of what really happened of the Democrats trying to change this country into a socialist-communist country for the last four years. These people need to lawyer up, and they need to find out what it’s really like to be under the gun. Putting their hand up, testifying in front of people all over this country because it’s gonna be much-watched as we look at all this narrative being brought forward.”

    SALCEDO: “Well, Senator, you know, getting real Americans put into prosecutorial positions would help bring this accountability to these lawless Democrats. There are a number of confirmations for U.S. Attorney backed up in the United States Senate right now. Some have been waiting for months. Has leader Thune committed to you that this backlog will be done away with before the August recess?”

    TUBERVILLE: “Well, we’ve talked about that. We’re trying to catch up. The problem, Chris, is the Democrats are playing four corners of basketball here. Slow play. They don’t get back anytime.

    It’s a lot of fundamental errors that have happened, not just from here in the Senate, but also the White House. We have to have some firepower. We have to be able to fight back. But at the end of the day, we’re gonna get this done, even if we have to stay up here weekends through August. The Democrats don’t think that we’ll stay up here and work. Guess what? We’ll stay up here and work. We’ll have enough people up here to get a quorum to make sure that we push the agenda. And if they don’t wanna take a vacation, we don’t have to take one.”

    SALCEDO: “Wow. I think you’re breaking some news right there. ‘The Senate actually works.’ That’s some big news, Senator. Look, over the weekend, an off-duty CBP officer was shot in the face by an illegal alien suspect. In Wisconsin, an illegal alien was finally arrested by ICE after he allegedly decapitated a woman and stored her body three months after a nut job Illinois judge let him walk free on those gruesome charges. And then there’s Hunter Biden. He’s upset with Americans for trying to stop illegal immigration and the effort to deport illegal aliens.” […]

    TUBERVILLE: “This is coming from somebody that’s never had a job, Joe Biden’s son. He’s lived off his dad for many, many years. And so whatever you get from him, you can take [with] a grain of salt. Again, but he’s coming back even at his Democrat team, the members that have actually pushed everything towards the Republicans. But 800% surge of assault on our law enforcement officers in this country. Our justice system, Chris, is in shambles.

    Judges taking people that are arrested, letting them go in the front door, go out the back door. That is stopping as we speak, but we have to continue to push that. Again, the Democrats pushed a lot of these judges out in the last few years. They’re overwhelmed all over the country of being very lax on crime. But if we don’t take our neighborhoods back and our streets back, we do not have a country […] but we’ve gotta protect our law enforcement people. They get up every day, ICE, Border Patrol. They get up every day, put a badge on, a gun on their side, and not knowing whether they’re gonna come back or not.

    President Trump gave them authority, and they need to take that authority. That [if they’re] shot at, they need to shoot back. We need to take advantage of what’s going on right now and make sure we take our streets back because the Democrats […] could[n’t] care less about that. They want their voters to vote for them, that’s the voters for the Democratic Party. These people are breaking all these laws all over the country.” […]

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI Canada: Minister Sidhu discusses trade priorities and opportunities with counterparts and business leaders in British Columbia

    Source: Government of Canada News (2)

    July 22, 2025 – Vancouver, British Columbia – Global Affairs Canada

    The Honourable Maninder Sidhu, Minister of International Trade, was in British Columbia (B.C.) from July 17 to 21, to meet with provincial and industry leaders, as well as Trade Commissioner Service (TCS) clients in the defence, aerospace and agriculture sectors.

    During a keynote address at a Surrey Board of Trade event, Minister Sidhu outlined Canada’s economic priorities, including strengthening and diversifying trade relationships worldwide. He spoke about the significance of the Government of Canada’s Team Canada Trade Missions, a key initiative under the Indo-Pacific Strategy that helps Canadian businesses export to new international markets.

    The minister also met with his newly appointed B.C. counterpart, the Minister of Jobs and Economic Growth, Ravi Kahlon. They explored collaboration opportunities between the federal and provincial governments to create market connections for Canadian companies, including through Canada’s TCS. Following their meeting, Minister Kahlon joined Minister Sidhu at a round-table discussion with Business Council of British Columbia members, where they shared Canada’s and B.C.’s priorities for continued growth in the energy sector.

    While in the Vancouver area, Minister Sidhu toured the Port of Vancouver and saw first-hand how the harbour contributes to Canada’s international supply chain, facilitating the flow of exports to Asia and connections to essential goods from around the world. He also visited OSI Maritime Systems Ltd., a successful TCS partner, where he gained valuable insights into the unique export challenges faced by Canadian defence companies. The Minister then met with Tamara Vrooman, President and CEO of the Vancouver International Airport to discuss key priorities, including cargo capacity and enhancing international connectivity.

    In Kitimat, he visited LNG Canada, the country’s first export-oriented liquefied natural gas facility, where he learned about the company’s exports to Asia. As a world leader in the energy sector, Canada is a partner of choice for clean energy solutions and is ready to become a conventional and clean energy superpower.

    Minister Sidhu concluded his visit to B.C. in Kelowna. He participated in a discussion with business leaders at the Kelowna Chamber of Commerce, where he highlighted the role the TCS can play to help B.C. companies reach new export markets. While in Kelowna, the minister also visited Anodyne Electronics Manufacturing, Hillcrest Farms, and KF Aerospace, local businesses, to gain insights into their experiences, discuss challenges they face, and explore how the TCS can support them.

    MIL OSI Canada News –

  • MIL-OSI USA: Rep. Andrea Salinas Introduces Legislation to Level the Playing Field for the Cider Industry

    Source: US Representative Andrea Salinas (OR-06)

    Today, U.S. Representative Andrea Salinas (OR-06), introduced the Bubble Tax Modernization Act, which would lower the tax rate for lower-alcohol wine, cider, and mead made with fruit.

    Washington, D.C. – Today, U.S. Representative Andrea Salinas (OR-06), introduced the Bubble Tax Modernization Act, which would lower the tax rate for lower-alcohol wine, cider, and mead made with fruit.

    Despite the popularity of bubbly beverages, the carbonation tax–colloquially called the ‘bubble tax’ on fruit wine, fruit cider, and fruit mead makes carbonating these agricultural products at sparkling levels cost prohibitive. Most craft beverage entrepreneurs can’t afford to carbonate these products at the level the market wants. The result is that an important American agricultural sector is falling flat.

    “Oregon has some of the highest quality fruit in the country, but red tape in our tax code makes it nearly impossible to use these products to make the fruited wines, ciders, and meads that people want,” said Rep. Salinas. “My bill levels the playing field for the cider industry and makes it more affordable to produce the sparkling, fruited drinks consumers want.”

    “Cidermakers should not be limited to just pears and apples in order to avoid a massive, unnecessary tax hike on their products,” said Rep. Van Orden. “This bill works for everyone – farmers, cidermakers, and consumers – by allowing any type of fruit to be added to cider and taxed at the standard rate.”

    Currently, the tax code dictates that if a sparkling cider, wine, or mead is made with fruits other than apples and pears, then it can only be minimally carbonated, often to the point that it tastes flat to most consumers. If cidermakers want to carbonate their fruited drinks to the same level as other, non-fruited ciders, taxes on these fruited ciders triple. Rep. Salinas’ legislation allows cidermakers to create and carbonate fruited beverages without this higher tax burden, granting them more freedom to produce drinks to match public demand.

    “The Bubble Tax Modernization Act is a critical, overdue fix that will finally bring fairness to how cider is taxed in the U.S.,” said Monica Cohen, CEO of the American Cider Association. “It eliminates outdated penalties on carbonated, fruit-forward ciders and gives small cidermakers the freedom to innovate without being punished. This bill supports American agriculture, strengthens rural economies, and helps keep cider accessible to consumers. It’s common-sense legislation and we applaud Representatives Salinas and Van Orden for moving this forward.”

    “The Pacific Northwest is home to some of the most innovative and orchard-driven cider producers in the country. Yet outdated federal tax rules have unfairly penalized craft cideries and restricted innovation and expansion into the fruited cider category,” said Emily Ritchie, Executive Director of the Northwest Cider Association. “The Bubble Tax Modernization Act is a common-sense update that will allow our producers to grow, hire more local workers, and invest back into our rural communities and vibrant apple and pear orchards. This is a crucial step toward fairness and opportunity for the Northwest cider industry.” 

    “New York’s cider industry has become a national leader—thanks to the innovation, resilience, and agricultural roots of our cider producers. But outdated carbonation tax thresholds are holding us back,” said Scott Ramsey, Executive Director of the New York Cider Association. “The Bubble Tax Modernization Act represents a long-overdue step toward fairness for cider makers in New York and across the country. By leveling the playing field, this bill will empower our producers to expand their offerings, hire more local workers, and reinvest in the rural communities and orchards that fuel our economy. We’re proud to support this effort to strengthen one of New York’s most dynamic and agricultural industries.”

    The Bubble Tax Modernization Act is endorsed by the American Cider Association, Northwest Cider Association, North Carolina Cider Association, New York Cider Association, and Pennsylvania Cider Guild.

    To read the full text of this legislation, click here. 

    ###

    MIL OSI USA News –

  • MIL-OSI: FS Bancorp, Inc. Reports Second Quarter Net Income of $7.7 Million or $0.99 Per Diluted Share and Declares 50th Consecutive Quarterly Cash Dividend in Addition to a Special Dividend 

    Source: GlobeNewswire (MIL-OSI)

    MOUNTLAKE TERRACE, Wash., July 22, 2025 (GLOBE NEWSWIRE) — FS Bancorp, Inc. (NASDAQ: FSBW) (the “Company”), the holding company for 1st Security Bank of Washington (the “Bank”) today reported 2025 second quarter net income of $7.7 million, or $0.99 per diluted share, compared to $9.0 million, or $1.13 per diluted share, for the comparable quarter one year ago. For the six months ended June 30, 2025, net income was $15.7 million, or $1.99 per diluted share, compared to net income of $17.4 million, or $2.20 per diluted share, for the comparable six-month period in 2024.

    “We are proud of the balance sheet growth this quarter driven by solid loan demand. Additionally, our share repurchase activity reflects our continued confidence and commitment to delivering long-term value to our shareholders,” stated Phillip Whittington, CFO.

    “We are pleased to announce that our Board of Directors has approved our 50th consecutive quarterly cash dividend of $0.28 per common share, demonstrating our continued commitment to delivering value to our shareholders. In recognition of this milestone, the Board also approved a special dividend of $0.22 per common share. Both dividends will be paid on August 21, 2025, to shareholders of record as of August 7, 2025,” noted Matthew Mullet, President.

    2025 Second Quarter Highlights

    • Net income was $7.7 million for the second quarter of 2025, compared to $8.0 million for the previous quarter, and $9.0 million for the comparable quarter one year ago;
    • Total deposits decreased $61.8 million, or 2.4%, to $2.55 billion at June 30, 2025, primarily due to a decrease of $59.1 million in brokered deposits, compared to $2.62 billion at March 31, 2025, and increased $170.6 million, or 7.2%, from $2.38 billion at June 30, 2024.  Noninterest-bearing deposits were $654.1 million at June 30, 2025, $676.7 million at March 31, 2025, and $623.3 million at June 30, 2024;
    • Borrowings increased $165.5 million, or 240.5% to $234.3 million at June 30, 2025, compared to $68.8 million at March 31, 2025, and increased $52.4 million, or 28.8%, from $181.9 million at June 30, 2024;
    • Loans receivable, net increased $81.2 million, or 3.2%, to $2.58 billion at June 30, 2025, compared to $2.50 billion at March 31, 2025, and increased $125.1 million, or 5.1%, from $2.46 billion at June 30, 2024;
    • Consumer loans were $606.3 million at June 30, 2025, a decrease of $2.6 million, or 0.4%, from $608.9 million in the previous quarter, and a decrease of $35.4 million, or 5.5%, from $641.7 million in the comparable quarter one year ago. During the three months ended June 30, 2025, consumer loan originations included 82.5% of home improvement loans originated with a Fair Isaac Corporation (“FICO”) score above 720;
    • Repurchased 132,282 shares of the Company’s common stock in the second quarter of 2025 at an average price of $38.92 per share with $725,000 remaining for future purchases under the existing share repurchase plan at June 30, 2025. In addition, as previously announced on July 9, 2025, the Board approved a new share repurchase plan authorizing the repurchase of up to $5.0 million in shares of the Company’s outstanding common stock;
    • Book value per share increased $0.43 to $39.55 at June 30, 2025, compared to $39.12 at March 31, 2025, and increased $2.40 from $37.15 at June 30, 2024.  Tangible book value per share (non-GAAP financial measure) increased $0.50 to $37.46 at June 30, 2025, compared to $36.96 at March 31, 2025, and increased $2.80 from $34.66 at June 30, 2024. See, “Non-GAAP Financial Measures;”
    • Segment reporting in the second quarter of 2025 reflected net income of $7.4 million for the Commercial and Consumer Banking segment and $351,000 for the Home Lending segment, compared to net income of $7.8 million and $242,000 in the prior quarter, and net income of $8.0 million and $1.0 million in the second quarter of 2024, respectively; and
    • Regulatory capital ratios at the Bank were 14.1% for total risk-based capital and 11.2% for Tier 1 leverage capital at June 30, 2025, compared to 14.4% for total risk-based capital and 11.3% for Tier 1 leverage capital at March 31, 2025.

    Segment Reporting

    The Company operates through two reportable segments: Commercial and Consumer Banking and Home Lending. The Commercial and Consumer Banking segment provides diversified financial products and services to our commercial and consumer customers. These products and services include deposit products; residential, consumer, business and commercial real estate lending and cash management services. This segment also manages the Bank’s investment portfolio and other assets. The Home Lending segment originates one-to-four-family residential mortgage loans primarily for sale in the secondary markets as well as loans held for investment.

    The tables below provide a summary of segment reporting at or for the three and six months ended June 30, 2025 and 2024 (dollars in thousands):

        At or For the Three Months Ended June 30, 2025  
    Condensed income statement:   Commercial and Consumer Banking     Home Lending     Total  
    Net interest income(1)   $ 29,179     $ 2,933     $ 32,112  
    Provision for credit losses     (1,849 )     (172 )     (2,021 )
    Noninterest income(2)     2,297       2,873       5,170  
    Noninterest expense(3)     (20,313 )     (5,189 )     (25,502 )
    Income before provision for income taxes     9,314       445       9,759  
    Provision for income taxes     (1,937 )     (94 )     (2,031 )
    Net income   $ 7,377     $ 351     $ 7,728  
    Total average assets for period ended   $ 2,466,917     $ 649,443     $ 3,116,360  
    Full-time employees (“FTEs”)     452       115       567  
        At or Three Months Ended June 30, 2024
    Condensed income statement:   Commercial and Consumer Banking   Home Lending   Total
    Net interest income(1)   $ 28,051     $ 2,350     $ 30,401  
    (Provision) recovery for credit losses     (1,214 )     137       (1,077 )
    Noninterest income(2)     2,269       3,599       5,868  
    Noninterest expense(3)     (19,043 )     (4,814 )     (23,857 )
    Income before provision for income taxes     10,063       1,272       11,335  
    Provision for income taxes     (2,113 )     (263 )     (2,376 )
    Net income   $ 7,950     $ 1,009     $ 8,959  
    Total average assets for period ended   $ 2,359,741     $ 588,090     $ 2,947,831  
    FTEs     450       121       571  
        At or For the Six Months Ended June 30, 2025  
    Condensed income statement:   Commercial and Consumer Banking     Home Lending     Total  
    Net interest income(1)   $ 57,586     $ 5,507     $ 63,093  
    Provision for credit losses     (3,170 )     (443 )     (3,613 )
    Noninterest income(2)     4,542       5,754       10,296  
    Noninterest expense(3)     (40,489 )     (10,067 )     (50,556 )
    Income before provision for income taxes     18,469       751       19,220  
    Provision for income taxes     (3,314 )     (157 )     (3,471 )
    Net income   $ 15,155     $ 594     $ 15,749  
    Total average assets for period ended   $ 2,440,654     $ 634,013     $ 3,074,667  
    FTEs     452       115       567  
        At or For the Six Months Ended June 30, 2024  
    Condensed income statement:   Commercial and Consumer Banking     Home Lending     Total  
    Net interest income(1)   $ 56,137     $ 4,610     $ 60,747  
    Provision for credit losses     (2,465 )     (11 )     (2,476 )
    Noninterest income(2)     4,662       6,317       10,979  
    Noninterest expense(3)     (38,051 )     (9,335 )     (47,386 )
    Income before provision for income taxes     20,283       1,581       21,864  
    Provision for income taxes     (4,182 )     (326 )     (4,508 )
    Net income   $ 16,101     $ 1,255     $ 17,356  
    Total average assets for period ended   $ 2,380,803     $ 572,386     $ 2,953,189  
    FTEs     450       121       571  

    __________________________

    (1)   Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets and, if the segment has excess liabilities, interest credits for providing funding to the other segment. The cost of liabilities includes interest expense on segment liabilities and, if the segment does not have enough liabilities to fund its assets, a funding charge based on the cost of assigned liabilities to fund segment assets.
    (2)   Noninterest income includes activity from certain residential mortgage loans that were initially originated for sale and measured at fair value and subsequently transferred to loans held for investment. Gains and losses from changes in fair value for these loans are reported in earnings as a component of noninterest income. For the three and six months ended June 30, 2025, the Company recorded a net increase in fair value of $3,000 and $266,000, respectively, compared to a net increase in fair value of $184,000 and $186,000, respectively for the three and six months ended June 30, 2024. As of June 30, 2025 and 2024, there were $13.2 million and $13.9 million, respectively, in residential mortgage loans recorded at fair value as they were previously transferred from loans held for sale to loans held for investment.
    (3)   Noninterest expense includes allocated overhead expense from general corporate activities. Allocation is determined based on a combination of segment assets and FTEs.  For the three and six months ended June 30, 2025 and 2024, the Home Lending segment included allocated overhead expenses of $1.8 million and $3.7 million, compared to $1.5 million and $3.0 million, respectively.
         

    Asset Summary

    The following table presents the components and changes in total assets as of the dates indicated.

    ASSETS                           Linked Quarter     Prior Year  
    (Dollars in thousands)   June 30,     March 31,     June 30,     Change     Quarter Change  
        2025     2025     2024     $     %     $     %  
    Cash and due from banks   $ 15,168     $ 18,657     $ 20,005     $ (3,489 )     (19 )%   $ (4,837 )     (24 )%
    Interest-bearing deposits at other financial institutions     18,027       44,084       13,006       (26,057 )     (59 )     5,021       39  
    Total cash and cash equivalents     33,195       62,741       33,011       (29,546 )     (47 )     184       1  
    Certificates of deposit at other financial institutions     248       1,234       12,707       (986 )     (80 )     (12,459 )     (98 )
    Securities available-for-sale, at fair value     302,692       291,133       221,182       11,559       4       81,510       37  
    Securities held-to-maturity, net     31,562       10,434       8,455       21,128       202       23,107       273  
    Loans held for sale, at fair value     53,630       31,038       53,811       22,592       73       (181 )     —  
    Loans receivable, net     2,582,272       2,501,117       2,457,184       81,155       3       125,088       5  
    Accrued interest receivable     14,270       14,406       13,792       (136 )     (1 )     478       3  
    Premises and equipment, net     30,098       29,451       29,999       647       2       99       —  
    Operating lease right-of-use     7,969       4,979       5,784       2,990       60       2,185       38  
    Federal Home Loan Bank stock, at cost     11,579       5,256       10,322       6,323       120       1,257       12  
    Deferred tax asset, net     7,782       7,009       4,590       773       11       3,192       70  
    Bank owned life insurance (“BOLI”), net     38,262       38,778       38,201       (516 )     (1 )     61       —  
    MSRs, held at the lower of cost or fair value     8,652       8,926       9,352       (274 )     (3 )     (700 )     (7 )
    Goodwill     3,592       3,592       3,592       —       —       —       —  
    Core deposit intangible, net     12,071       12,879       15,483       (808 )     (6 )     (3,412 )     (22 )
    Other assets     38,139       43,105       23,912       (4,966 )     (12 )     14,227       59  
    TOTAL ASSETS   $ 3,176,013     $ 3,066,078     $ 2,941,377     $ 109,935       4 %   $ 234,636       8 %
                                                             

    The increase in total assets reflects the Company’s continued focus on balance sheet growth through loan origination and selective investment activity, funded by a combination of on-balance sheet liquidity and borrowings.

                                                                Prior  
    LOAN PORTFOLIO                                                   Linked     Year  
    (Dollars in thousands)                                                   Quarter     Quarter  
    COMMERCIAL REAL ESTATE   June 30, 2025     March 31, 2025     June 30, 2024     $     $  
    (“CRE”) LOANS   Amount     Percent     Amount     Percent     Amount     Percent     Change     Change  
    CRE owner occupied   $ 180,250       6.8 %   $ 164,911       6.5 %   $ 177,723       7.1 %   $ 15,339     $ 2,527  
    CRE non-owner occupied     171,979       6.6       174,188       6.9       181,681       7.3       (2,209 )     (9,702 )
    Commercial and speculative construction and development     300,723       11.5       288,978       11.4       220,793       8.9       11,745       79,930  
    Multi-family     263,185       10.1       244,940       9.7       239,675       9.6       18,245       23,510  
    Total CRE loans     916,137       35.0       873,017       34.5       819,872       32.9       43,120       96,265  
                                                                     
    RESIDENTIAL REAL ESTATE LOANS                                                                
    One-to-four-family (excludes HFS)     639,881       24.4       637,299       25.2       588,966       23.7       2,582       50,915  
    Home equity     85,613       3.3       73,846       2.9       73,749       3.0       11,767       11,864  
    Residential custom construction     54,024       2.1       48,810       1.9       53,416       2.1       5,214       608  
    Total residential real estate loans     779,518       29.8       759,955       30.0       716,131       28.8       19,563       63,387  
                                                                     
    CONSUMER LOANS                                                                
    Indirect home improvement     530,375       20.3       532,038       21.0       563,621       22.6       (1,663 )     (33,246 )
    Marine     72,765       2.8       73,737       2.9       74,627       3.0       (972 )     (1,862 )
    Other consumer     3,151       0.1       3,118       0.1       3,440       0.1       33       (289 )
    Total consumer loans     606,291       23.2       608,893       24.0       641,688       25.7       (2,602 )     (35,397 )
                                                                     
    COMMERCIAL BUSINESS LOANS                                                                
    Commercial and industrial (“C&I”)     294,563       11.3       274,956       10.9       285,183       11.6       19,607       9,380  
    Warehouse lending     17,952       0.7       15,949       0.6       25,548       1.0       2,003       (7,596 )
    Total commercial business loans     312,515       12.0       290,905       11.5       310,731       12.6       21,610       1,784  
    Total loans receivable, gross     2,614,461       100.0 %     2,532,770       100.0 %     2,488,422       100.0 %     81,691       126,039  
                                                                     
    Allowance for credit losses on loans     (32,189 )             (31,653 )             (31,238 )             (536 )     (951 )
    Total loans receivable, net   $ 2,582,272             $ 2,501,117             $ 2,457,184             $ 81,155     $ 125,088  
                                                                     

    The composition of CRE loans at the dates indicated were as follows:

    (Dollars in thousands)   June 30, 2025     March 31, 2025     June 30, 2024  
    CRE by Type:   Amount     Amount     Amount  
    CRE non-owner occupied:                        
    Office   $ 39,141     $ 39,406     $ 41,380  
    Retail     38,652       35,520       37,507  
    Hospitality/restaurant     26,489       27,377       28,314  
    Self-storage     19,075       19,092       19,141  
    Mixed use     18,387       18,868       18,062  
    Industrial     14,444       15,033       17,163  
    Senior housing/assisted living     7,448       7,506       7,675  
    Other     3,670       6,579       6,847  
    Land     2,206       2,314       3,021  
    Education/worship     2,467       2,493       2,571  
    Total CRE non-owner occupied     171,979       174,188       181,681  
    CRE owner occupied:                        
    Industrial     77,419       66,618       63,970  
    Office     40,156       40,447       41,978  
    Retail     19,470       20,535       20,885  
    Other     9,483       8,529       8,354  
    Hospitality/restaurant     7,230       7,306       10,800  
    Automobile related     7,215       7,266       8,200  
    Mixed use     5,548       5,579       5,680  
    Agriculture     4,652       3,990       3,639  
    Education/worship     4,630       4,641       4,610  
    Car wash     4,447       —       9,607  
    Total CRE owner occupied     180,250       164,911       177,723  
    Total   $ 352,229     $ 339,099     $ 359,404  
                             

    The following table includes CRE loans repricing or maturing within the next two years, excluding loans that reprice simultaneously with changes to the prime rate:

                                                              Current
    (Dollars in                                                         Weighted
    thousands)   For the Quarter Ended       Average
    CRE by type:   Sep 30, 2025   Dec 31, 2025   Mar 31, 2026   Jun 30, 2026   Sep 30, 2026   Dec 31, 2026   Mar 31, 2027   Jun 30, 2027   Total   Rate
    Agriculture   $ 716   $ 314   $ 178   $ 265   $ 287   $ —   $ —   $ —   $ 1,760   6.28 %
    Apartment     —     13,679     1,128     13,788     9,747     7,062     4,117     —     49,521   4.96 %
    Hotel / hospitality     2,393     —     113     1,243     —     —     103     —     3,852   5.26 %
    Industrial     —     10,002     976     586     1,578     —     13,412     263     26,817   5.12 %
    Mixed use     241     —     7,101     —     —     379     —     —     7,721   8.14 %
    Office     15,015     6,055     515     1,629     554     7,695     2,857     1,213     35,533   5.50 %
    Other     1,921     240     884     —     —     1,485     —     3,515     8,045   4.80 %
    Retail     1,020     —     421     3,448     —     3,399     3,027     2,801     14,116   4.26 %
    Education/worship     1,314     —     —     —     2,467     —     —     —     3,781   5.18 %
    Senior housing and assisted living     —     —     2,142     —     —     —     —     1,372     3,514   4.76 %
    Total   $ 22,620   $ 30,290   $ 13,458   $ 20,959   $ 14,633   $ 20,020   $ 23,516   $ 9,164   $ 154,660   5.22 %
                                                                 

    The composition of construction loans at the dates indicated were as follows:

    (Dollars in thousands)   June 30, 2025     March 31, 2025     June 30, 2024  
    Construction Types:   Amount     Percent     Amount     Percent     Amount     Percent  
    Commercial construction – retail   $ 8,447       2.4 %   $ 8,157       2.4 %   $ 8,698       3.2 %
    Commercial construction – office     9,083       2.6       6,487       1.9       4,737       1.7  
    Commercial construction – self storage     16,553       4.7       16,012       4.7       10,000       3.6  
    Commercial construction – hotel     3,673       1.0       402       0.1       7,807       2.8  
    Multi-family     23,119       6.5       31,275       9.3       30,960       11.3  
    Custom construction – single family residential and single family manufactured residential     45,570       12.8       41,143       12.2       46,106       16.8  
    Custom construction – land, lot and acquisition and development     8,454       2.4       7,667       2.3       7,310       2.7  
    Speculative residential construction – vertical     200,375       56.5       186,042       55.1       131,294       47.9  
    Speculative residential construction – land, lot and acquisition and development     39,473       11.1       40,603       12.0       27,297       10.0  
    Total   $ 354,747       100.0 %   $ 337,788       100.0 %   $ 274,209       100.0 %
                                                     

    Originations of one-to-four-family loans to purchase and refinance a home for the periods indicated were as follows:

    (Dollars in                                                 Prior Year  
    thousands)   For the Three Months Ended     Linked Quarter   Quarter  
        June 30, 2025     March 31, 2025     June 30, 2024     $   %   $     %  
        Amount   Percent     Amount   Percent     Amount   Percent     Change   Change   Change     Change  
    Purchase   $ 170,854   85.7 %   $ 120,719   83.0 %   $ 193,715   92.3 %   $ 50,135   41.5   $ (22,861 )   (11.8 )%
    Refinance     28,470   14.3       24,677   17.0       16,173   7.7       3,793   15.4     12,297     76.0 %
    Total   $ 199,324   100.0 %   $ 145,396   100.0 %   $ 209,888   100.0 %   $ 53,928   37.1   $ (10,564 )   (5.0 )%
    (Dollars in thousands)   For the Six Months Ended June 30,            
        2025     2024            
        Amount   Percent     Amount   Percent     $ Change   % Change  
    Purchase   $ 290,737   84.3 %   $ 329,292   90.5 %   $ (38,555 )   (11.7 ) %
    Refinance     53,983   15.7       34,545   9.5       19,438     56.3   %
    Total   $ 344,720   100.0 %   $ 363,837   100.0 %   $ (19,117 )   (5.3 ) %
                                             

    During the quarter ended June 30, 2025, the Company sold $127.1 million of one-to-four-family loans compared to $91.9 million during the previous quarter and $164.5 million during the same quarter one year ago. The increase in the volume of loans sold during the current quarter compared to the prior quarter was primarily due to seasonal factors, including the spring homebuying season. This increased demand for homes generally results in a higher volume of loan originations and, consequently, more loans available for sale. Gross margins on home loan sales decreased to 3.06% for the quarter ended June 30, 2025, compared to 3.26% in the previous quarter and increased from 2.96% in the same quarter one year ago. Gross margins are defined as the margin on loans sold (cash sales) without the impact of deferred costs.

    Liabilities and Equity Summary

    The following table summarizes the components and changes in deposits, borrowings, equity, and book value per common share at the dates indicated.

    (Dollars in thousands)                                                   Linked     Prior Year  
    Deposits   June 30, 2025     March 31, 2025     June 30, 2024     Quarter     Quarter  
    Transactional deposits:   Amount     Percent     Amount     Percent     Amount     Percent     $ Change     $ Change  
    Noninterest-bearing checking   $ 643,573       25.2 %   $ 659,417       25.2 %   $ 613,137       25.7 %   $ (15,844 )   $ 30,436  
    Interest-bearing checking:                                                                
    Retail deposits     181,240       7.1       171,396       6.6       166,839       7.0       9,844       14,401  
    Brokered deposits     30,020       1.2       30,073       1.1       —       —       (53 )     30,020  
    Total interest-bearing checking     211,260       8.3       201,469       7.7       166,839       7.0       9,791       44,421  
    Escrow accounts related to mortgages serviced(1)     10,496       0.4       17,289       0.7       10,212       0.4       (6,793 )     284  
    Subtotal     865,329       33.9       878,175       33.6       790,188       33.1       (12,846 )     75,141  
    Savings and money market:                                                                
    Savings     159,601       6.3       160,332       6.1       151,398       6.4       (731 )     8,203  
    Money market:                                                                
    Retail deposits     350,548       13.6       343,098       13.1       339,946       14.2       7,450       10,602  
    Brokered deposits     251       0.1       251       —       4,049       0.2       —       (3,798 )
    Total money market     350,799       13.7       343,349       13.1       343,995       14.4       7,450       6,804  
    Subtotal     510,400       20.0       503,681       19.2       495,393       20.8       6,719       15,007  
    Certificates of deposit:                                                                
    Retail CDs     891,355       34.9       881,630       33.7       823,866       34.6       9,725       67,489  
    Nonretail CDs:                                                                
    Online CDs     3,423       0.1       9,354       0.4       9,354       0.4       (5,931 )     (5,931 )
    Public CDs     2,114       0.1       2,440       0.1       2,983       0.1       (326 )     (869 )
    Brokered CDs     280,754       11.0       339,871       13.0       261,019       11.0       (59,117 )     19,735  
    Total nonretail CDs     286,291       11.2       351,665       13.5       273,356       11.5       (65,374 )     12,935  
    Subtotal     1,177,646       46.1       1,233,295       47.2       1,097,222       46.1       (55,649 )     80,424  
    Total deposits   $ 2,553,375       100.0 %   $ 2,615,151       100.0 %   $ 2,382,803       100.0 %   $ (61,776 )   $ 170,572  
    Borrowings(2)   $ 234,305             $ 68,805             $ 181,895             $ 165,500     $ 52,410  
    Equity   $ 297,203             $ 298,840             $ 284,026             $ (1,637 )   $ 13,177  
    Book value per common share   $ 39.55             $ 39.12             $ 37.15             $ 0.43     $ 2.40  

    __________________________

    (1)   Primarily noninterest-bearing accounts based on applicable state law.
    (2)   Comprised of FHLB advances and Federal Reserve Bank borrowings.
         

    At June 30, 2025, the Bank had uninsured deposits of approximately $677.2 million, compared to approximately $679.4 million at March 31, 2025, and $586.6 million at June 30, 2024.  The uninsured amounts are estimates based on the methodologies and assumptions used for the Bank’s regulatory reporting requirements.

    In reference to the table above, the linked quarter decrease in stockholders’ equity at June 30, 2025, compared to March 31, 2025, was primarily due to share repurchases of $5.1 million, cash dividends paid of $2.1 million, and $525,000 in equity award compensation, partially offset by net income of $7.7 million. Stockholders’ equity was also impacted by a decline in unrealized fair value on securities available for sale of $1.2 million, net of tax, and fair value and cash flow hedges of $1.6 million, net of tax, reflecting changes in market interest rates during the quarter, resulting in a $2.8 million decrease in accumulated other comprehensive loss, net of tax.

    The Bank is considered “well capitalized” under the capital requirement established by the Federal Deposit Insurance Corporation (“FDIC”) and the Company exceeded all regulatory capital requirements. At June 30, 2025, capital ratios presented for the Bank and the Company were as follows:

        At June 30, 2025
        Bank   Company
    Total risk-based capital (to risk-weighted assets)   14.07 %   14.16 %
    Tier 1 leverage capital (to average assets)   11.18 %   9.65 %
    CET 1 capital (to risk-weighted assets)   12.82 %   11.07 %
                 

    Credit Quality

    The following table summarizes the changes in the ACL on loans, nonperforming loans, and substandard loans at the dates indicated.

    ACL ON LOANS   June 30,     March 31,     June 30,     Linked     Prior Year  
    (Dollars in thousands)   2025     2025     2024     Quarter     Quarter  
        Amount     Amount     Amount     $ Change     $ Change  
    Beginning ACL balance   $ (31,653 )   $ (31,870 )   $ (31,479 )   $ 217     $ (174 )
    Provision     (1,715 )     (1,505 )     (1,001 )     (210 )     (714 )
    Charge-offs                                        
    Indirect     1,555       1,579       825       (24 )     730  
    Marine     43       20       157       23       (114 )
    Other     42       37       33       5       9  
    Commercial business     —       433       733       (433 )     (733 )
    Subtotal     1,640       2,069       1,748       (429 )     (108 )
    Recoveries                                        
    Indirect     (330 )     (340 )     (307 )     10       (23 )
    Marine     (54 )     (3 )     (110 )     (51 )     56  
    Other     (7 )     (4 )     (4 )     (3 )     (3 )
    Commercial business     (70 )     —       (85 )     (70 )     15  
    Subtotal     (461 )     (347 )     (506 )     (114 )     45  
    Ending ACL balance   $ (32,189 )   $ (31,653 )   $ (31,238 )   $ (536 )   $ (951 )
    NONPERFORMING LOANS   June 30,   March 31,   June 30,   Linked   Prior Year
    (Dollars in thousands)   2025   2025   2024   Quarter   Quarter
    CRE LOANS   Amount   Amount   Amount   $ Change   $ Change
    CRE   $ 2,046   $ 1,196   $ 1,116   $ 850     $ 930  
    Commercial and speculative construction and development     9,083     6,487     4,737     2,596       4,346  
    Total CRE loans     11,129     7,683     5,853     3,446       5,276  
                                   
    RESIDENTIAL REAL ESTATE LOANS                              
    One-to-four-family (excludes HFS)     1,809     1,134     170     675       1,639  
    Home equity     251     252     156     (1 )     95  
    Total residential real estate loans     2,060     1,386     326     674       1,734  
                                   
    CONSUMER LOANS                              
    Indirect home improvement     3,365     2,821     2,319     544       1,046  
    Marine     567     648     327     (81 )     240  
    Other consumer     13     1     6     12       7  
    Total consumer loans     3,945     3,470     2,652     475       1,293  
                                   
    COMMERCIAL BUSINESS LOANS                              
    C&I     1,862     1,932     2,575     (70 )     (713 )
    Total nonperforming loans   $ 18,996   $ 14,471   $ 11,406   $ 4,525     $ 7,590  
                                       

    The increase in nonaccrual loans during the period was partly driven by a single commercial construction loan, which remains in active development. Ongoing construction disbursements on this loan contributed to a $2.6 million increase from the prior quarter and a $4.3 million increase compared to the same period last year. Increases in consumer loan delinquencies also contributed to the overall rise in nonaccrual loans between the periods. 

    CRITICIZED LOANS   June 30,   March 31,   June 30,   Linked   Prior Year
    (Dollars in thousands)   2025   2025   2024   Quarter   Quarter
    CRE LOANS   Amount   Amount   Amount   $ Change   $ Change
    CRE   $ 2,046   $ 2,040   $ 3,926   $ 6     $ (1,880 )
    Commercial and speculative construction and development     9,083     6,487     4,737     2,596       4,346  
    Total CRE loans     11,129     8,527     8,663     2,602       2,466  
                                   
    RESIDENTIAL REAL ESTATE LOANS                              
    One-to-four-family (excludes HFS)     4,383     3,728     2,854     655       1,529  
    Home equity     251     252     156     (1 )     95  
    Total residential real estate loans     4,634     3,980     3,010     654       1,624  
                                   
    CONSUMER LOANS                              
    Indirect home improvement     3,365     2,821     2,319     544       1,046  
    Marine     567     649     327     (82 )     240  
    Other consumer     13     1     6     12       7  
    Total consumer loans     3,945     3,471     2,652     474       1,293  
                                   
    COMMERCIAL BUSINESS LOANS                              
    C&I     5,220     7,524     9,954     (2,304 )     (4,734 )
    Total criticized loans   $ 24,928   $ 23,502   $ 24,279   $ 1,426     $ 649  
                                       

    Operating Results

    Net interest income increased $1.7 million to $32.1 million for the three months ended June 30, 2025, from $30.4 million for the three months ended June 30, 2024, primarily due to an increase in total interest income of $2.8 million, partially offset by an increase in interest expense of $1.1 million. The $2.8 million increase in total interest income was primarily due to an increase of $2.6 million in interest income on loans receivable, including fees, primarily as a result of net loan growth. The $1.1 million increase in total interest expense was primarily the result of higher average balances of deposits and borrowings to fund asset growth.

    For the six months ended June 30, 2025, net interest income increased $2.3 million to $63.1 million, from $60.7 million for the six months ended June 30, 2024, with a $4.7 million increase in total interest income, partially offset by a $2.3 million increase in interest expense for the same reasons mentioned above. 

    NIM (annualized) increased one basis point to 4.30% for the three months ended June 30, 2025, from 4.29% for the same period in the prior year and increased four basis points from 4.27% to 4.31% for the six months ended June 30, 2025. The change in NIM for the three and six months ended June 30, 2025, compared to the same period in 2024, reflects the increased yields on interest-earning assets, as a result of loan growth and repricing activity. The improvement also reflects a favorable shift in the asset mix and disciplined management of deposit and funding costs. 

    The average total cost of funds, including noninterest-bearing checking, increased one basis point to 2.39% for the three months ended June 30, 2025, from 2.38% for the three months ended June 30, 2024. This increase was predominantly due to higher average balances in borrowings. The average cost of funds increased eight basis points to 2.38% for the six months ended June 30, 2025, from 2.30% for the six months ended June 30, 2024, primarily for the same reason noted above as well as growth in the deposit mix from the prior year. 

    For the three and six months ended June 30, 2025, the provision for credit losses on loans was $2.0 million and $3.6 million, compared to $1.1 million and $2.5 million for the three and six months ended June 30, 2024, respectively. The provision for credit losses on loans reflects net loan growth and an increase in net charge-off activity.

    During the three months ended June 30, 2025, net charge-offs decreased $63,000 to $1.2 million, compared to the same period the prior year. During the six months ended June 30, 2025, net charge-offs increased $184,000, to $2.9 million, compared to $2.7 million during the six months ended June 30, 2024. The increase was primarily due to a $1.2 million increase in net charge-offs on indirect home improvement loans, partially offset by a $693,000 decrease in net charge-offs on commercial business loans and a $271,000 decrease in net charge-offs on marine loans. Management attributes the increase in net charge-offs for the current six month period to continued volatile economic conditions.

    Total noninterest income decreased $698,000 to $5.2 million for the three months ended June 30, 2025, from $5.9 million for the three months ended June 30, 2024. The decrease primarily reflects a $491,000 decrease in gain on sale of loans, primarily due to a decrease of loans available for sale, a $156,000 decrease in service charges and fee income and a $151,000 decrease in gain on sale of investment securities due to no sales activity in the current quarter compared to the same period last year. Total noninterest income decreased $683,000, to $10.3 million, for the six months ended June 30, 2025, from $11.0 million for the six months ended June 30, 2024. This decrease was primarily the result of a $629,000 decrease in gain on sale of loans, a $464,000 decrease in service charges and fee income, and a net decrease of $368,000 from no activity in gain on sales of MSRs and loss on sale of investment securities compared to an $8.2 million net gain on sale of MSRs, offset by the $7.8 million loss on sale of investment securities that occurred in the first half of 2024. These decreases in total noninterest income were partially offset by a $755,000 increase in other noninterest income as result of sales of nonmarketable equity securities at a $312,000 gain, bank owned life insurance proceeds of $195,000, and a $101,000 increase in brokered loans fees.

    Total noninterest expense was $25.5 million for the three months ended June 30, 2025, compared to $23.9 million for the three months ended June 30, 2024.  The $1.6 million increase was primarily due to a $710,000 increase in salaries and benefits, primarily due to competitive wage adjustments, a $305,000 increase in operations expense, and a $267,000 increase in professional and board fees.  Total noninterest expense increased $3.2 million to $50.6 million for the six months ended June 30, 2025, compared to $47.4 million for the six months ended June 30, 2024. Increases during the six month period ended June 30, 2025, compared to the same period last year included $1.7 million in salaries and benefits, $742,000 in operations expense, and $531,000 in professional and board fees.

    About FS Bancorp

    FS Bancorp, Inc., a Washington corporation, is the holding company for 1st Security Bank of Washington. The Bank offers a range of loan and deposit services primarily to small- and middle-market businesses and individuals in Washington and Oregon.  It operates through 27 bank branches, one headquarters office that provides loans and deposit services, and loan production offices in various suburban communities in the greater Puget Sound area, the Kennewick-Pasco-Richland metropolitan area of Washington, also known as the Tri-Cities, and in Vancouver, Washington. Additionally, the Bank services home mortgage customers across the Northwest, focusing on markets in Washington State including the Puget Sound, Tri-Cities, and Vancouver.

    Forward-Looking Statements

    When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management’s current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements, include but are not limited to, the following: adverse impacts to 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, including, without limitation, as a result of employment levels; labor shortages, the effects of inflation, recessionary pressures or slowing economic growth; changes in interest rates and the duration of such changes, including actions by the Federal Reserve, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and monetary and fiscal policy responses thereto and their impact on consumer and business behavior; geopolitical developments and international conflicts including but not limited to tensions or instability in Eastern Europe, the Middle east, and Asia, or the imposition of new or increased tariffs and trade restrictions, which may disrupt financial markets, global supply chains, energy prices, or economic activity in specific industry sectors; the effects of a federal government shutdown, debt ceiling standoff, or other fiscal policy uncertainty; increased competitive pressures, including repricing and competitors’ pricing initiatives, and their impact on our market position, loan, and deposit products; adverse changes in the securities markets, the Company’s ability to execute its plans to grow its residential construction lending, mortgage banking, and warehouse lending operations, and the geographic expansion of its indirect home improvement lending; challenges arising from expanding into new geographic markets, products, or services; secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market; volatility in the mortgage industry; fluctuations in deposits; liquidity issues, including our ability to borrow funds or raise additional capital, if necessary; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; the ability to adapt to rapid technological changes, including advancements in artificial intelligence, digital banking, and cybersecurity; legislation or regulatory changes, including but not limited to shifts in capital requirements, banking regulation, tax laws, or consumer protection laws; vulnerabilities  in information systems or third-party service providers, including disruptions, breaches, or attacks; environmental, social and governance goals; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events on our business; and other factors described in the Company’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed with or furnished to the SEC which are available on its website at www.fsbwa.com and on the SEC’s website at www.sec.gov.

    Any of the forward-looking statements that the Company makes in this press release and in the other public statements are based upon management’s beliefs and assumptions at the time they are made and may turn out to be incorrect because of the inaccurate assumptions the Company might make, because of the factors illustrated above or because of other factors that cannot be foreseen by the Company. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

     
    FS BANCORP, INC. AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands) (Unaudited)
                                         
                                Linked     Prior Year  
        June 30,     March 31,     June 30,     Quarter     Quarter  
    ASSETS   2025     2025     2024     % Change     % Change  
    Cash and due from banks   $ 15,168     $ 18,657     $ 20,005       (19 )     (24 )
    Interest-bearing deposits at other financial institutions     18,027       44,084       13,006       (59 )     39  
    Total cash and cash equivalents     33,195       62,741       33,011       (47 )     1  
    Certificates of deposit at other financial institutions     248       1,234       12,707       (80 )     (98 )
    Securities available-for-sale, at fair value     302,692       291,133       221,182       4       37  
    Securities held-to-maturity, net     31,562       10,434       8,455       202       273  
    Loans held for sale, at fair value     53,630       31,038       53,811       73       —  
    Loans receivable, net     2,582,272       2,501,117       2,457,184       3       5  
    Accrued interest receivable     14,270       14,406       13,792       (1 )     3  
    Premises and equipment, net     30,098       29,451       29,999       2       —  
    Operating lease right-of-use     7,969       4,979       5,784       60       38  
    Federal Home Loan Bank stock, at cost     11,579       5,256       10,322       120       12  
    Deferred tax asset, net     7,782       7,009       4,590       11       70  
    Bank owned life insurance (“BOLI”), net     38,262       38,778       38,201       (1 )     —  
    MSRs, held at the lower of cost or fair value     8,652       8,926       9,352       (3 )     (7 )
    Goodwill     3,592       3,592       3,592       —       —  
    Core deposit intangible, net     12,071       12,879       15,483       (6 )     (22 )
    Other assets     38,139       43,105       23,912       (12 )     59  
    TOTAL ASSETS   $ 3,176,013     $ 3,066,078     $ 2,941,377       4       8  
    LIABILITIES                                        
    Deposits:                                        
    Noninterest-bearing accounts   $ 654,069     $ 676,706     $ 623,349       (3 )     5  
    Interest-bearing accounts     1,899,306       1,938,445       1,759,454       (2 )     8  
    Total deposits     2,553,375       2,615,151       2,382,803       (2 )     7  
    Borrowings     234,305       68,805       181,895       241       29  
    Subordinated notes:                                        
    Principal amount     50,000       50,000       50,000       —       —  
    Unamortized debt issuance costs     (373 )     (389 )     (439 )     (4 )     (15 )
    Total subordinated notes less unamortized debt issuance costs     49,627       49,611       49,561       —       —  
    Operating lease liability     8,138       5,149       5,979       58       36  
    Other liabilities     33,365       28,522       37,113       17       (10 )
    Total liabilities     2,878,810       2,767,238       2,657,351       4       8  
    COMMITMENTS AND CONTINGENCIES                                        
    STOCKHOLDERS’ EQUITY                                        
    Preferred stock, $.01 par value; 5,000,000 shares authorized; none issued or outstanding     —       —       —       —       —  
    Common stock, $.01 par value; 45,000,000 shares authorized; 7,618,543 shares issued and outstanding at June 30, 2025, 7,742,907 at March 31, 2025, and 7,742,607 at June 30, 2024     76       77       77       (1 )     (1 )
    Additional paid-in capital     48,418       52,806       55,834       (8 )     (13 )
    Retained earnings     268,509       262,945       243,651       2       10  
    Accumulated other comprehensive loss, net of tax     (19,800 )     (16,988 )     (15,536 )     17       27  
    Total stockholders’ equity     297,203       298,840       284,026       (1 )     5  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 3,176,013     $ 3,066,078     $ 2,941,377       4       8  
                                             
     
    FS BANCORP, INC. AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME
    (Dollars in thousands, except per share amounts) (Unaudited)
                       
        Three Months Ended     Linked     Prior Year  
        June 30,     March 31,     June 30,     Quarter     Quarter  
    INTEREST INCOME   2025     2025     2024     % Change     % Change  
    Loans receivable, including fees   $ 45,038     $ 43,303     $ 42,406       4       6  
    Interest and dividends on investment securities, cash and cash equivalents, and certificates of deposit at other financial institutions     3,665       3,485       3,534       5       4  
    Total interest and dividend income     48,703       46,788       45,940       4       6  
    INTEREST EXPENSE                                        
    Deposits     14,520       13,058       13,252       11       10  
    Borrowings     1,585       2,263       1,801       (30 )     (12 )
    Subordinated notes     486       485       486       —       —  
    Total interest expense     16,591       15,806       15,539       5       7  
    NET INTEREST INCOME     32,112       30,982       30,401       4       6  
    PROVISION FOR CREDIT LOSSES     2,021       1,592       1,077       27       88  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     30,091       29,390       29,324       2       3  
    NONINTEREST INCOME                                        
    Service charges and fee income     2,323       2,244       2,479       4       (6 )
    Gain on sale of loans     1,972       1,700       2,463       16       (20 )
    Gain on sale of investment securities, net     —       —       151       NM       NM  
    Earnings on cash surrender value of BOLI     254       250       242       2       5  
    Other noninterest income     621       932       533       (33 )     17  
    Total noninterest income     5,170       5,126       5,868       1       (12 )
    NONINTEREST EXPENSE                                        
    Salaries and benefits     14,088       14,533       13,378       (3 )     5  
    Operations     3,824       3,445       3,519       11       9  
    Occupancy     1,780       1,717       1,669       4       7  
    Data processing     2,137       2,045       2,058       4       4  
    Loan costs     719       548       653       31       10  
    Professional and board fees     1,155       1,186       888       (3 )     30  
    FDIC insurance     554       538       450       3       23  
    Marketing and advertising     398       221       377       80       6  
    Amortization of core deposit intangible     809       831       919       (3 )     (12 )
    Impairment (recovery) of servicing rights     38       (9 )     (54 )     (522 )     (170 )
    Total noninterest expense     25,502       25,055       23,857       2       7  
    INCOME BEFORE PROVISION FOR INCOME TAXES     9,759       9,461       11,335       3       (14 )
    PROVISION FOR INCOME TAXES     2,031       1,440       2,376       41       (15 )
    NET INCOME   $ 7,728     $ 8,021     $ 8,959       (4 )     (14 )
    Basic earnings per share   $ 1.00     $ 1.02     $ 1.15       (2 )     (13 )
    Diluted earnings per share   $ 0.99     $ 1.01     $ 1.13       (2 )     (12 )
                                             
     
    FS BANCORP, INC. AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME
    (Dollars in thousands, except per share amounts) (Unaudited)
                 
        Six Months Ended     Year  
        June 30,     June 30,     Over Year  
    INTEREST INCOME   2025     2024     % Change  
    Loans receivable, including fees   $ 88,340     $ 83,403       6  
    Interest and dividends on investment securities, cash and cash equivalents, and certificates of deposit at other financial institutions     7,150       7,417       (4 )
    Total interest and dividend income     95,490       90,820       5  
    INTEREST EXPENSE                        
    Deposits     27,578       26,134       6  
    Borrowings     3,848       2,968       30  
    Subordinated note     971       971       —  
    Total interest expense     32,397       30,073       8  
    NET INTEREST INCOME     63,093       60,747       4  
    PROVISION FOR CREDIT LOSSES     3,613       2,476       46  
    NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     59,480       58,271       2  
    NONINTEREST INCOME                        
    Service charges and fee income     4,567       5,031       (9 )
    Gain on sale of loans     3,672       4,301       (15 )
    Gain on sale of MSRs     —       8,215       NM  
    Loss on sale of investment securities, net     —       (7,847 )     NM  
    Earnings on cash surrender value of BOLI     505       482       5  
    Other noninterest income     1,552       797       95  
    Total noninterest income     10,296       10,979       (6 )
    NONINTEREST EXPENSE                        
    Salaries and benefits     28,621       26,935       6  
    Operations     7,269       6,527       11  
    Occupancy     3,496       3,374       4  
    Data processing     4,182       4,016       4  
    Loan costs     1,267       1,238       2  
    Professional and board fees     2,342       1,811       29  
    FDIC insurance     1,092       982       11  
    Marketing and advertising     619       604       2  
    Amortization of core deposit intangible     1,639       1,860       (12 )
    Impairment of servicing rights     29       39       (26 )
    Total noninterest expense     50,556       47,386       7  
    INCOME BEFORE PROVISION FOR INCOME TAXES     19,220       21,864       (12 )
    PROVISION FOR INCOME TAXES     3,471       4,508       (23 )
    NET INCOME   $ 15,749     $ 17,356       (9 )
    Basic earnings per share   $ 2.02     $ 2.23       (9 )
    Diluted earnings per share   $ 1.99     $ 2.20       (10 )
                             

    KEY FINANCIAL RATIOS AND DATA (Unaudited)

        At or For the Three Months Ended  
        June 30,     March 31,     June 30,  
    PERFORMANCE RATIOS:   2025     2025     2024  
    Return on assets (ratio of net income to average total assets)(1)     0.99 %     1.07 %     1.22 %
    Return on equity (ratio of net income to average total stockholders’ equity)(1)     10.29       10.80       12.72  
    Yield on average interest-earning assets(1)     6.52       6.53       6.48  
    Average total cost of funds(1)     2.39       2.38       2.38  
    Interest rate spread information – average during period     4.13       4.15       4.10  
    Net interest margin(1)     4.30       4.32       4.29  
    Operating expense to average total assets(1)     3.28       3.35       3.26  
    Average interest-earning assets to average interest-bearing liabilities(1)     140.98       142.94       143.64  
    Efficiency ratio(2)     68.40       69.39       65.78  
    Common equity ratio (ratio of stockholders’ equity to total assets)     9.36       9.75       9.66  
    Tangible common equity ratio(3)     8.91       9.26       9.07  
        For the Six Months Ended  
        June 30,     June 30,  
    PERFORMANCE RATIOS:   2025     2024  
    Return on assets (ratio of net income to average total assets)     1.03 %     1.18 %
    Return on equity (ratio of net income to average total stockholders’ equity)     10.55       12.51  
    Yield on average interest-earning assets     6.52       6.39  
    Average total cost of funds     2.38       2.30  
    Interest rate spread information – average during period     4.14       4.09  
    Net interest margin     4.31       4.27  
    Operating expense to average total assets     3.32       3.23  
    Average interest-earning assets to average interest-bearing liabilities     141.93       144.07  
    Efficiency ratio(2)     68.89       66.07  
        June 30,     March 31,     June 30,  
    ASSET QUALITY RATIOS AND DATA:   2025     2025     2024  
    Nonperforming assets to total assets at end of period(4)     0.60 %     0.47 %     0.39 %
    Nonperforming loans to total gross loans (excluding loans HFS)(5)     0.73       0.57       0.46  
    Allowance for credit losses – loans to nonperforming loans(5)     168.89       219.08       273.95  
    Allowance for credit losses – loans to total gross loans (excluding loans HFS)     1.23       1.25       1.26  
        At or For the Three Months Ended    
        June 30,       March 31,       June 30,    
    PER COMMON SHARE DATA:   2025       2025       2024    
    Basic earnings per share   $ 1.00       $ 1.02       $ 1.15    
    Diluted earnings per share   $ 0.99       $ 1.01       $ 1.13    
    Weighted average basic shares outstanding     7,580,576         7,695,320         7,688,246    
    Weighted average diluted shares outstanding     7,698,173         7,805,728         7,796,253    
    Common shares outstanding at end of period     7,515,480   (6)     7,639,844   (7)     7,644,463   (8)
    Book value per share using common shares outstanding   $ 39.55       $ 39.12       $ 37.15    
    Tangible book value per share using common shares outstanding(9)   $ 37.46       $ 36.96       $ 34.66    

    __________________________

    (1)   Annualized.
    (2)   Total noninterest expense as a percentage of net interest income and total noninterest income.
    (3)   Represents a non-GAAP financial measure.  For a reconciliation to the most comparable GAAP financial measure, see “Non-GAAP Financial Measures” below.
    (4)   Nonperforming assets consist of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), foreclosed real estate and other repossessed assets.
    (5)   Nonperforming loans consist of nonaccruing loans and accruing loans 90 days or more past due.
    (6)   Common shares were calculated using shares outstanding of 7,618,543 at June 30, 2025, less 103,063 unvested restricted stock shares.
    (7)   Common shares were calculated using shares outstanding of 7,742,907 at March 31, 2025, less 103,063 unvested restricted stock shares.
    (8)   Common shares were calculated using shares outstanding of 7,742,607 at June 30, 2024, less 98,144 unvested restricted stock shares.
    (9)   Tangible book value per share using outstanding common shares excludes intangible assets. This ratio represents a non-GAAP financial measure. See “Non-GAAP Financial Measures” below.
         
    (Dollars in thousands)   For the Three Months Ended June 30,     For the Six Months Ended June 30,     QTR Over QTR     YTD Over YTD  
    Average Balances   2025     2024     2025     2024     $ Change     $ Change  
    Assets                                                
    Loans receivable, net(1)   $ 2,612,959     $ 2,511,326     $ 2,586,598     $ 2,487,964     $ 101,633     $ 98,634  
    Securities available-for-sale, at amortized cost     332,705       283,422       321,622       307,417       49,283       14,205  
    Securities held-to-maturity     21,401       8,500       15,063       8,500       12,901       6,563  
    Interest-bearing deposits and certificates of deposit at other financial institutions     8,775       41,613       10,353       50,563       (32,838 )     (40,210 )
    FHLB stock, at cost     19,502       7,040       17,840       4,607       12,462       13,233  
    Total interest-earning assets     2,995,342       2,851,901       2,951,476       2,859,051       143,441       92,425  
    Noninterest-earning assets     121,018       95,930       123,191       94,138       25,088       29,053  
    Total assets   $ 3,116,360     $ 2,947,831     $ 3,074,667     $ 2,953,189     $ 168,529     $ 121,478  
    Liabilities                                                
    Interest-bearing deposit accounts   $ 1,924,586     $ 1,794,966     $ 1,845,534     $ 1,813,865     $ 129,620     $ 31,669  
    Borrowings     150,492       140,964       184,377       121,057       9,528       63,320  
    Subordinated notes     49,617       49,550       49,608       49,542       67       66  
    Total interest-bearing liabilities     2,124,695       1,985,480       2,079,519       1,984,464       139,215       95,055  
    Noninterest-bearing deposit accounts     657,820       637,345       660,805       647,214       20,475       13,591  
    Other noninterest-bearing liabilities     32,700       41,785       33,218       42,516       (9,085 )     (9,298 )
    Total liabilities   $ 2,815,215     $ 2,664,610     $ 2,773,542     $ 2,674,194     $ 150,605     $ 99,348  

    __________________________

    (1)   Includes loans HFS.
         

    Non-GAAP Financial Measures:

    In addition to financial results presented in accordance with generally accepted accounting principles utilized in the United States (“GAAP”), this earnings release presents non-GAAP financial measures that include tangible book value per share, and tangible common equity ratio. Management believes that providing the Company’s tangible book value per share and tangible common equity ratio is consistent with the capital treatment utilized by the investment community, which excludes intangible assets from the calculation of risk-based capital ratios and facilitates comparison of the quality and composition of the Company’s capital over time and to its competitors. Where applicable, the Company has also presented comparable GAAP information.

    These non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. They should not be considered in isolation or as a substitute for total stockholders’ equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

    Reconciliation of the GAAP book value per share and common equity ratio and the non-GAAP tangible book value per share and tangible common equity ratio is presented below.

    (Dollars in thousands, except share and per share amounts)   June 30,   March 31,   June 30,  
    Tangible Book Value Per Share:   2025   2025   2024  
    Stockholders’ equity (GAAP)   $ 297,203     $ 298,840     $ 284,026    
    Less: goodwill and core deposit intangible, net     (15,663 )     (16,471 )     (19,075 )  
    Tangible common stockholders’ equity (non-GAAP)   $ 281,540     $ 282,369     $ 264,951    
                         
    Common shares outstanding at end of period     7,515,480   (1)   7,639,844   (2)   7,644,463   (3)
                         
    Book value per share (GAAP)   $ 39.55     $ 39.12     $ 37.15    
    Tangible book value per share (non-GAAP)   $ 37.46     $ 36.96     $ 34.66    
                         
    Tangible Common Equity Ratio:                    
    Total assets (GAAP)   $ 3,176,013     $ 3,066,078     $ 2,941,377    
    Less: goodwill and core deposit intangible assets     (15,663 )     (16,471 )     (19,075 )  
    Tangible assets (non-GAAP)   $ 3,160,350     $ 3,049,607     $ 2,922,302    
                         
    Common equity ratio (GAAP)     9.36   %   9.75   %   9.66   %
    Tangible common equity ratio (non-GAAP)     8.91       9.26       9.07    

    _________________________

    (1)   Common shares were calculated using shares outstanding of 7,618,543 at June 30, 2025, less 103,063 unvested restricted stock shares.
    (2)   Common shares were calculated using shares outstanding of 7,742,907 at March 31, 2025, less 103,063 unvested restricted stock shares.
    (3)   Common shares were calculated using shares outstanding of 7,742,607 at June 30, 2024, less 98,144 unvested restricted stock shares.
         

    Contacts:
    Joseph C. Adams,
    Chief Executive Officer
    Matthew D. Mullet,
    President
    Phillip D. Whittington,
    Chief Financial Officer

    (425) 771-5299
    www.FSBWA.com

    The MIL Network –

  • MIL-Evening Report: Kneecap’s stance on Gaza extends a long history of the Irish supporting other oppressed peoples

    Source: The Conversation (Au and NZ) – By Ciara Smart, PhD Graduand in Australasian Irish History, University of Tasmania

    Love them or hate them, there’s no doubt Irish hip-hop trio Kneecap are having a moment.

    Their music – delivered in a powerful fusion of English and Irish – is known for its gritty lyrics about party drugs and working-class life in post-Troubles Ireland. More recently, the group has made headlines for its outspoken support for the Palestinian people.

    British police have charged member Liam Óg Ó hAnnaidh (known by his stage name Mo Chara) with a terrorism offence. Ó hAnnaidh was charged in May, after being accused of displaying a Hezbollah flag at a London concert in November.

    But this isn’t the first time an Irish republican group has courted controversy for backing other oppressed peoples. This has been happening for almost two centuries.

    Unsanitised and vocal support

    Ireland is composed of 32 counties. Twenty-six are in the Republic of Ireland, while six are part of the United Kingdom in Northern Ireland. When the British government withdrew from most of Ireland in 1921, the Irish Free State was largely Catholic, while Northern Ireland was more heavily Protestant. But these divisions are becoming increasingly irrelevant.

    While Ireland is still split across two nations, public support for Irish unity remains strong, particularly among citizens of the Republic.

    Kneecap’s members are from Belfast, the capital of Northern Ireland. They are also fierce republicans, which means they want to see Ireland united as one nation. One of their most popular songs, Get Your Brits Out, calls for the British state’s withdrawal from Northern Ireland.

    The group has experienced a meteoric rise in recent years, helped by a semi-autobiographical film released last year.

    They have reclaimed the term “Fenian”, often used as an anti-Irish slur. Their decision to rap in Irish is also a cultural milestone, as the language was suppressed in Northern Ireland for most of the 20th century, only achieving official language status in 2022.

    Despite being undeniable provocateurs, they claim they aren’t
    interested in reigniting Catholic-Protestant conflict. They celebrate the similarities between both groups, rather than highlight their differences.

    Ó hAnnaidh’s alleged terrorism offence came after he waved a Hezbollah flag at a London gig and chanted “Up Hamas, up Hezbollah”. Both Hamas and Hezbollah are considered terrorist groups in Britain. He will face court on August 20.

    Irish-Māori solidarity

    Kneecap is carrying on a long tradition of Irish groups who faced controversy for denouncing the oppressive acts of powerful states.

    In the 19th century, several Irish nationalist groups expressed solidarity with other colonised peoples, especially Māori in Aotearoa New Zealand. Groups such as the Irish Republican Brotherhood (whose members were called Fenians) arguably saw Māori and Irish as co-victims of a tyrannical state.

    Irish nationalist newspapers often wrote sympathetically about the colonisation of New Zealand, and tried to inspire Ireland to resist British subjugation, like Māori seemed to be doing.

    This painting by Kennett Watkins, The Death of Von Tempsky at Te Ngutu o Te Manu (circa 1893), portrays conflict in 1868 between armed constabulary and Māori forces.
    Wikimedia

    In July 1864, the Fenian newspaper The Irish People stressed British hypocrisy. It wrote, “savages we call [Māori], using the arrogant language of civilisation, but, honestly, they deserve to be characterised by a much better word”.

    It also scoffed at the “unconquerable propensity of the Anglo-Saxon to plunder the lands of other people – a propensity which manifests itself most strikingly alike in Ireland and New Zealand”.

    Similarly, in December 1868, the nationalist newspaper The Nation contrasted “valiant” Māori with “terrified” British. It sarcastically described Māori as “rebels (men fighting for their own rights on their own soil)” and mocked the British forces as “valiant men who could bully a priest”.

    The article finished on a sombre note: “Mere valour will in the end go down before the force of numbers and the cunning of diplomacy”.

    Rumours of a secret rebellion

    Other Irish leaders, such as the nationalist Michael Davitt, saw inspirational parallels between the nonviolent campaign of Charles Stewart Parnell, the 19th century leader of the Irish Home Rule movement, and Māori leader Te Whiti-o-Rongomai.

    In Ireland, Parnell encouraged poor tenant farmers to pause rent payments to their British landlords. In New Zealand, Te Whiti encouraged Māori to dismantle colonially-constructed fences and plough the land for themselves. Both were arrested in 1881 within three weeks of each other.

    The ‘No Rent Manifesto’ was issued on 18 October 1881, by Parnell and others of the Irish National Land League while in Kilmainham Jail.
    National Library of Ireland

    So strong was the sense of kinship between Irish and Māori that, in the 1860s, there were persistent rumours of a joint Irish-Māori rebellion reported in the media and even New Zealand’s parliament.

    In March, 1869, the conservative New Zealand newspaper Daily Southern Cross reported a large number of Māori “have decided on joining the Fenian Brotherhood, and have adopted the green flag as their national emblem”.

    Later that year, the paper reported the supposed Fenians told a Māori resistance group that, “like the Maori, they hate the British rule, and are prepared to make common cause […] to overthrow that rule in New Zealand”.

    However, these rumours were probably no more than a conspiracy fuelled by racist anti-Irish paranoia.

    Actions and outcomes

    Any tangible results of cross-cultural sympathy from 19th century Irish nationalists were mixed, at best. My ongoing research shows solidarity with Māori was partly motivated by humanitarian motives, but was also often used to make a point about Ireland.

    Identifying with another oppressed peoples within the context of a corrupt empire was a powerful way to argue for improved political recognition within Ireland. Irish nationalists generally didn’t do much other than declare their sympathy.

    Kneecap, on the other hand, seems willing to bear the legal and financial consequences of being vocal about human rights abuses in Gaza. Some of their shows have been cancelled, and funding providers have withdrawn.

    While curated rebellion can be lucrative in show-business, Kneecap says the controversy following them is a distraction. They insist the world should focus squarely on Gaza instead.

    Ciara Smart does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Kneecap’s stance on Gaza extends a long history of the Irish supporting other oppressed peoples – https://theconversation.com/kneecaps-stance-on-gaza-extends-a-long-history-of-the-irish-supporting-other-oppressed-peoples-261261

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Middlefield Banc Corp. Reports 2025 Six-Month Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIDDLEFIELD, Ohio, July 22, 2025 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ: MBCN) today reported financial results for the six months ended June 30, 2025.

    2025 Second-Quarter Financial Highlights (on a year-over-year basis):

      ● Earnings per share increased 46.2% year-over-year to $0.76 per diluted share
      ● Asset quality improved from the 2024 fourth quarter with nonperforming assets to total assets decreasing by 32 basis points to 1.30%
      ● Net interest margin expanded 37 basis points to 3.88% and increased 19 basis points from the 2025 first quarter
      ● Total loans increased $84.2 million, or 5.6% to a record $1.58 billion
      ● Total assets increased $96.2 million, or 5.3% to a record $1.92 billion
      ● Book value increased 4.3% to $26.74 from $25.63 per share, while tangible book value(1) increased 6.1% to $21.60 from $20.37 per share

     (1) See non-GAAP reconciliation under the section “GAAP to Non-GAAP Reconciliations”

    “The second quarter of 2025 was another strong quarter of growth, profitability and value creation for Middlefield,” stated Ronald L. Zimmerly, Jr., President and Chief Executive Officer. “Total loans have increased at an 8.2% annualized rate since the beginning of the year to a record $1.58 billion, asset quality continued to improve sequentially, and our net interest margin for the second quarter of 2025 expanded 37 basis points year-over-year to 3.88%.  These results led to strong growth in profitability during the quarter.  Net income also benefited from a $1.2 million net gain on the exchange of real estate associated with the relocation of our Westerville, Ohio branch.  Relocating our Westerville office is a great opportunity, supported by favorable demographics and underscores our multi-year strategy to expand our presence in the Central Ohio region. We expect our new Westerville branch to open in the second half of 2025.”

    “I am pleased by the strong start to 2025 and the direction we are headed.  We remain focused on investing in our platform, which includes upgrades to our technology infrastructure, adding new, experienced commercial bankers, and pursuing opportunities to expand Middlefield across our compelling Ohio markets.  As a result of these efforts and the contributions of our high-performing team, we expect additional loan and core deposit growth to benefit profitability throughout the remainder of 2025,” concluded Mr. Zimmerly.

    Income Statement
    Net interest income for the 2025 second quarter increased 15.6% to $17.4 million, compared to $15.1 million for the 2024 second quarter. The net interest margin for the 2025 second quarter was 3.88%, compared to 3.51% for the same period of 2024. Net interest income for the six months ended June 30, 2025, increased 11.6% to $33.5 million, compared to $30.1 million for the same period last year. The increase was primarily due to strong loan growth, a decrease in FHLB advances, and an overall decline in rates for deposits. Net interest margin for the six months ended June 30, 2025, was 3.79%, compared to 3.53% last year. 

    Noninterest income for the 2025 second quarter was $3.1 million, compared to $1.8 million for the same period the previous year. For the six months ended June 30, 2025, noninterest income increased $1.5 million to $5.0 million, compared to $3.6 million for the same period in 2024.  In April 2025, Middlefield completed an exchange of real estate with the City of Westerville, Ohio for a parcel of land that had a fair value of $1.5 million. In exchange, Middlefield transferred land and a building with related furnishings associated with its current branch located in Westerville, Ohio. The transferred branch had a net book value of $221,000. The exchange of real estate transaction resulted in a one-time, non-cash gain of $1.2 million.

    For the 2025 second quarter, noninterest expense was $13.7 million, compared to $11.9 million for the 2024 second quarter. Noninterest expense for the six months ended June 30, 2025, was $25.8 million, compared to $23.9 million for the same period in 2024. Noninterest expense for the 2025 second quarter included a $700,000 loss associated with recording a separate property located in Westerville, Ohio as held for sale.     

    Net income for the 2025 second quarter was $6.2 million, or $0.76 per diluted share, compared to $4.2 million, or $0.52 per diluted share, for the same period last year. Net income for the six months ended June 30, 2025, was $11.0 million, or $1.36 per diluted share, compared to $8.3 million, or $1.03 per diluted share, for the same period last year. 

    For the 2025 second quarter, pre-tax, pre-provision net income was $6.9 million, compared to $4.9 million for the same period of 2024. For the six months ended June 30, 2025, pre-tax, pre-provision net income was $12.7 million, compared to $9.7 million for the same period last year.  (See non-GAAP reconciliation under the section “GAAP to Non-GAAP Reconciliations”.)

    Balance Sheet
    Total assets at June 30, 2025, increased 5.3% to a record $1.92 billion, compared to $1.83 billion at June 30, 2024. Total loans at June 30, 2025, were a record $1.58 billion, compared to $1.50 billion at June 30, 2024. The 5.6% year-over-year increase in total loans was primarily due to higher home equity lines of credit, commercial and industrial loans, residential real estate loans, non-owner occupied, and owner occupied loans, partially offset by a reduction in construction and other loans and multifamily loans.

    The investment securities available-for-sale portfolio was $161.1 million at June 30, 2025, compared with $166.4 million at June 30, 2024.

    Total liabilities at June 30, 2025, increased 5.4% to $1.71 billion, compared to $1.62 billion at June 30, 2024. Total deposits at June 30, 2025, were $1.59 billion, compared to $1.47 billion at June 30, 2024. The 8.4% year-over-year increase in deposits was primarily due to growth in money market and interest-bearing demand deposits, partially offset by declines in savings deposit accounts. Noninterest-bearing demand deposits were 24.2% of total deposits at June 30, 2025, compared to 26.3% at June 30, 2024. At June 30, 2025, the Company had brokered deposits of $165.1 million, compared to $86.5 million at June 30, 2024.

    Michael C. Ranttila, Chief Financial Officer, stated, “Middlefield’s highly profitable financial model, disciplined loan pricing, and strong liquidity levels provides us with the flexibility to support both loan and operational growth. We continue to monitor our funding mix to support our loan portfolio at a reasonable cost, and such actions contributed to a seven-basis point reduction in our cost of funds since the beginning of the year.  Throughout the second half of 2025, we are focused on growing core deposits by improving the mix of commercial and industrial loans and growing treasury management relationships.”

    Middlefield’s CRE portfolio included the following categories at June 30, 2025:

    (Dollar amounts in thousands)   Balance     Percent of
    CRE Portfolio    		     Percent of
    Loan Portfolio    		     Weighted Average
    Loan-to-Value    		  
                                     
    Multi-Family   $ 79,497       11.7 %     5.0 %     64.7 %
    Owner Occupied                                
    Real Estate and Rental and Leasing     56,806       8.3 %     3.6 %     55.6 %
    Other Services (except Public Administration)     40,734       6.0 %     2.6 %     58.2 %
    Manufacturing     17,919       2.6 %     1.1 %     44.4 %
    Agriculture, Forestry, Fishing and Hunting     12,318       1.8 %     0.8 %     36.3 %
    Educational Services     11,844       1.7 %     0.7 %     50.1 %
    Other     57,024       8.3 %     3.6 %     54.1 %
    Total Owner Occupied   $ 196,645       28.7 %     12.4 %        
    Non-Owner Occupied                                
    Real Estate and Rental and Leasing     333,645       49.0 %     21.1 %     54.8 %
    Accommodation and Food Services     40,430       5.9 %     2.6 %     57.0 %
    Health Care and Social Assistance     19,456       2.9 %     1.2 %     65.9 %
    Manufacturing     7,412       1.1 %     0.5 %     46.7 %
    Other     4,089       0.7 %     0.3 %     76.4 %
    Total Non-Owner Occupied   $ 405,032       59.6 %     25.7 %        
    Total CRE   $ 681,174       100.0 %     43.1 %        


    Stockholders’ Equity and Dividends
    At June 30, 2025, stockholders’ equity was $216.1 million, compared to $206.8 million at June 30, 2024. The 4.5% year-over-year increase in stockholders’ equity was primarily from higher retained earnings, partially offset by an increase in the unrealized losses on the available-for-sale investment portfolio. On a per-share basis, shareholders’ equity at June 30, 2025, was $26.74, compared to $25.63 at June 30, 2024.

    At June 30, 2025, tangible stockholders’ equity(1) was $174.6 million, compared to $164.3 million at June 30, 2024. On a per-share basis, tangible stockholders’ equity(1) was $21.60 at June 30, 2025, compared to $20.37 at June 30, 2024. (1)See non-GAAP reconciliation under the section “GAAP to Non-GAAP Reconciliations”.

    For the six months ended June 30, 2025, the Company declared cash dividends of $0.42 per share, totaling $3.4 million. Beginning in the first quarter of 2025, the Company increased the quarterly cash dividend by $0.01, or 5% from the previous year’s $0.20 per share quarterly cash dividend.  

    For the six months ended June 30, 2025, the Company did not repurchase any shares of its common stock.  

    At June 30, 2025, the Company’s equity-to-assets ratio was 11.23%, compared to 11.31% at June 30, 2024.

    Asset Quality
    For the six months ended June 30, 2025, the Company recorded a recovery of credit losses of $411,000, compared to a recovery of credit losses of $49,000 for the same period of 2024.  

    Net recoveries were $227,000, or (0.03%) of average loans, annualized, for the six months ended June 30, 2025, compared to net recoveries of $97,000, or (0.01%) of average loans, annualized, for the same period of 2024.      

    Nonperforming loans at June 30, 2025, were $25.1 million, compared to $16.0 million at June 30, 2024. The year-over-year increase in nonperforming assets was primarily due to a $12.0 million loan moved to nonaccrual in the 2024 third quarter. The allowance for credit losses at June 30, 2025, stood at $22.3 million, or 1.41% of total loans, compared to $21.8 million, or 1.46% of total loans at June 30, 2024. The increase in the allowance for credit losses was mainly from changes in projected loss drivers, prepayment assumptions, curtailment expectations over the reasonable and supportable forecast period, and geographic footprint of unemployment data, as well as an overall increase in total loans.

    Mr. Ranttila continued, “Asset quality demonstrates the success of our disciplined approach to credit quality and risk management, as nonperforming assets to total assets have improved to 1.30% at June 30, 2025, compared to 1.56% at March 31, 2025, and 1.62% at December 31, 2024.  Over the past six months, non-performing assets declined by $4.9 million from $30.0 million at December 31, 2024, primarily as a result of the successful payoff of one previously disclosed non-accruing loan.  In addition, reductions in the reserve against individually analyzed loans as well as the reserve for unfunded commitments drove a $506,000 recovery for credit losses in the second quarter. We continue to expect stable economic activity across our Central, Western and Northeast Ohio markets that will support loan demand and asset quality throughout 2025.” 

    About Middlefield Banc Corp.
    Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.92 billion at June 30, 2025. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

    Additional information is available at www.middlefieldbank.bank

    NON-GAAP FINANCIAL MEASURES
    This press release includes disclosure of Middlefield Banc Corp.’s tangible book value per share, return on average tangible equity, and pre-tax, pre-provision for loan losses income, which are financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts required to be disclosed by GAAP. Middlefield Banc Corp. believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and Middlefield Banc Corp.’s marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP. The reconciliations of non-GAAP financial measures are included in the following Consolidated Financial Highlights tables below.

    FORWARD-LOOKING STATEMENTS
    This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are several important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

    MIDDLEFIELD BANC CORP.
    Consolidated Selected Financial Highlights
    (Dollar amounts in thousands, unaudited)

        June 30,     March 31,     December 31,     September 30,     June 30,  
    Balance Sheets (period end)   2025     2025     2024     2024     2024  
    ASSETS                                        
    Cash and due from banks   $ 59,145     $ 56,150     $ 46,037     $ 61,851     $ 50,496  
    Federal funds sold     13,701       10,720       9,755       12,022       1,762  
    Cash and cash equivalents     72,846       66,870       55,792       73,873       52,258  
    Investment securities available for sale, at fair value     161,116       165,014       165,802       169,895       166,424  
    Other investments     1,014       1,021       855       895       881  
    Loans held for sale     152       –       –       249       –  
    Loans:                                        
    Commercial real estate:                                        
    Owner occupied     196,645       185,412       181,447       187,313       182,809  
    Non-owner occupied     405,032       413,621       412,291       407,159       385,648  
    Multifamily     79,497       88,737       89,849       94,798       86,951  
    Residential real estate     357,217       351,274       353,442       345,748       337,121  
    Commercial and industrial     257,519       235,547       229,034       213,172       234,702  
    Home equity lines of credit     156,297       147,154       143,379       137,761       131,047  
    Construction and other     123,531       122,653       103,608       111,550       132,530  
    Consumer installment     6,187       5,951       6,564       7,030       6,896  
    Total loans     1,581,925       1,550,349       1,519,614       1,504,531       1,497,704  
    Less allowance for credit losses     22,335       22,401       22,447       22,526       21,795  
    Net loans     1,559,590       1,527,948       1,497,167       1,482,005       1,475,909  
    Premises and equipment, net     20,304       20,494       20,565       20,528       20,744  
    Premises and equipment held for sale     1,015       –       –       –       –  
    Goodwill     36,356       36,356       36,356       36,356       36,356  
    Core deposit intangibles     5,112       5,362       5,611       5,869       6,126  
    Bank-owned life insurance     35,102       34,866       35,259       35,049       34,802  
    Accrued interest receivable and other assets     31,762       30,425       35,952       32,916       34,686  
    TOTAL ASSETS   $ 1,924,369     $ 1,888,356     $ 1,853,359     $ 1,857,635     $ 1,828,186  
        June 30,     March 31,     December 31,     September 30,     June 30,  
        2025     2025     2024     2024     2024  
    LIABILITIES                                        
    Deposits:                                        
    Noninterest-bearing demand   $ 386,248     $ 369,492     $ 377,875     $ 390,933     $ 387,024  
    Interest-bearing demand     221,146       222,953       208,291       218,002       206,542  
    Money market     466,935       481,664       414,074       376,619       355,630  
    Savings     184,534       189,943       197,749       199,984       192,472  
    Time     334,755       275,673       247,704       327,231       327,876  
    Total deposits     1,593,618       1,539,725       1,445,693       1,512,769       1,469,544  
    Federal Home Loan Bank advances     89,000       110,000       172,400       106,000       125,000  
    Other borrowings     11,557       11,609       11,660       11,711       11,762  
    Accrued interest payable and other liabilities     14,142       13,229       13,044       16,450       15,092  
    TOTAL LIABILITIES     1,708,317       1,674,563       1,642,797       1,646,930       1,621,398  
    STOCKHOLDERS’ EQUITY                                        
    Common stock, no par value; 25,000,000 shares authorized, 9,960,503 shares issued, 8,081,193 shares outstanding as of June 30, 2025     162,195       162,195       161,999       161,916       161,823  
    Additional paid-in capital     811       515       246       108       –  
    Retained earnings     116,892       112,432       109,299       106,067       105,342  
    Accumulated other comprehensive loss     (22,937 )     (20,440 )     (20,073 )     (16,477 )     (19,468 )
    Treasury stock, at cost; 1,879,310 shares as of June 30, 2025     (40,909 )     (40,909 )     (40,909 )     (40,909 )     (40,909 )
    TOTAL STOCKHOLDERS’ EQUITY     216,052       213,793       210,562       210,705       206,788  
                                             
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 1,924,369     $ 1,888,356     $ 1,853,359     $ 1,857,635     $ 1,828,186  


    MIDDLEFIELD BANC CORP.
    Consolidated Selected Financial Highlights
    (Dollar amounts in thousands, unaudited)

        For the Three Months Ended     For the Six Months Ended  
        June 30,     March 31,     December 31,     September 30,     June 30,     June 30,     June 30,  
    Statements of Income   2025     2025     2024     2024     2024     2025     2024  
                                                             
    INTEREST AND DIVIDEND INCOME                                                        
    Interest and fees on loans   $ 25,122     $ 23,387     $ 23,308     $ 23,441     $ 23,422     $ 48,509     $ 45,817  
    Interest-earning deposits in other institutions     325       291       320       348       386       616       823  
    Federal funds sold     120       155       151       143       122       275       274  
    Investment securities:                                                        
    Taxable interest     526       530       528       528       505       1,056       972  
    Tax-exempt interest     960       960       961       962       966       1,920       1,938  
    Dividends on stock     183       150       170       191       198       333       387  
    Total interest and dividend income     27,236       25,473       25,438       25,613       25,599       52,709       50,211  
    INTEREST EXPENSE                                                        
    Deposits     8,789       7,885       8,582       8,792       8,423       16,674       15,889  
    Short-term borrowings     870       1,347       1,128       1,575       1,920       2,217       3,913  
    Other borrowings     140       143       173       173       173       283       357  
    Total interest expense     9,799       9,375       9,883       10,540       10,516       19,174       20,159  
    NET INTEREST INCOME     17,437       16,098       15,555       15,073       15,083       33,535       30,052  
    Provision for (recovery of) credit losses     (506 )     95       (177 )     2,234       87       (411 )     (49 )
    NET INTEREST INCOME AFTER PROVISION                                                        
    FOR (RECOVERY OF) CREDIT LOSSES     17,943       16,003       15,732       12,839       14,996       33,946       30,101  
    NONINTEREST INCOME                                                        
    Service charges on deposit accounts     1,061       989       1,068       959       971       2,050       1,880  
    Gain (Loss) on equity securities     (7 )     (34 )     56       14       (27 )     (41 )     (79 )
    Earnings on bank-owned life insurance     230       493       230       246       227       723       454  
    Gain on sale of loans     39       24       64       56       69       63       79  
    Revenue from investment services     310       268       237       206       269       578       473  
    Gain on exchange of real estate     1,229       –       –       –       –       1,229       –  
    Gross rental income     –       –       –       –       –       –       67  
    Other income     216       204       259       262       251       420       682  
    Total noninterest income     3,078       1,944       1,914       1,743       1,760       5,022       3,556  
                                                             
    NONINTEREST EXPENSE                                                        
    Salaries and employee benefits     6,734       6,557       5,996       6,201       6,111       13,291       12,444  
    Occupancy expense     667       687       596       627       601       1,354       1,153  
    Equipment expense     248       225       221       203       261       473       501  
    Data processing costs     1,273       1,271       1,174       1,214       1,135       2,544       2,417  
    Ohio state franchise tax     399       399       390       399       397       798       794  
    Federal deposit insurance expense     267       267       293       255       256       534       507  
    Professional fees     521       598       611       539       557       1,119       1,115  
    Advertising expense     451       364       371       283       508       815       927  
    Software amortization expense     95       90       83       74       21       185       43  
    Core deposit intangible amortization     250       249       258       257       258       499       516  
    Loss on premises and equipment held for sale     693       –       –       –       –       693       –  
    Gross other real estate owned expenses     –       –       –       –       –       –       99  
    Other expense     2,053       1,486       1,810       1,819       1,797       3,539       3,351  
    Total noninterest expense     13,651       12,193       11,803       11,871       11,902       25,844       23,867  
                                                             
    Income before income taxes     7,370       5,754       5,843       2,711       4,854       13,124       9,790  
    Income taxes     1,213       924       995       371       690       2,137       1,459  
                                                             
    NET INCOME   $ 6,157     $ 4,830     $ 4,848     $ 2,340     $ 4,164     $ 10,987     $ 8,331  
                                                             
    PTPP (1)   $ 6,864     $ 5,849     $ 5,666     $ 4,945     $ 4,941     $ 12,713     $ 9,741  
    (1)  See section “GAAP to Non-GAAP Reconciliations” for the reconciliation of GAAP performance measures to non-GAAP measures.


    MIDDLEFIELD BANC CORP.
    Consolidated Selected Financial Highlights
    (Dollar amounts in thousands, except per share and share amounts, unaudited)

        For the Three Months Ended     For the Six Months Ended  
        June 30,     March 31,     December 31,     September 30,     June 30,     June 30,     June 30,  
        2025     2025     2024     2024     2024     2025     2024  
    Per common share data                                                        
    Net income per common share – basic   $ 0.76     $ 0.60     $ 0.60     $ 0.29     $ 0.52     $ 1.36     $ 1.04  
    Net income per common share – diluted   $ 0.76     $ 0.60     $ 0.60     $ 0.29     $ 0.52     $ 1.36     $ 1.03  
    Dividends declared per share   $ 0.21     $ 0.21     $ 0.20     $ 0.20     $ 0.20     $ 0.42     $ 0.40  
    Book value per share (period end)   $ 26.74     $ 26.46     $ 26.08     $ 26.11     $ 25.63     $ 26.74     $ 25.63  
    Tangible book value per share (period end) (1) (2)   $ 21.60     $ 21.29     $ 20.88     $ 20.87     $ 20.37     $ 21.60     $ 20.37  
    Dividends declared   $ 1,697     $ 1,697     $ 1,616     $ 1,615     $ 1,613     $ 3,394     $ 3,226  
    Dividend yield     2.80 %     3.05 %     2.84 %     2.76 %     3.34 %     2.81 %     3.34 %
    Dividend payout ratio     27.56 %     35.13 %     33.33 %     69.02 %     38.74 %     30.89 %     38.72 %
    Average shares outstanding – basic     8,081,193       8,078,805       8,071,905       8,071,032       8,067,144       8,080,006       8,079,174  
    Average shares outstanding – diluted     8,113,572       8,097,545       8,092,357       8,086,872       8,072,499       8,107,066       8,084,529  
    Period ending shares outstanding     8,081,193       8,081,193       8,073,708       8,071,032       8,067,144       8,081,193       8,067,144  
                                                             
    Selected ratios                                                        
    Return on average assets (Annualized)     1.29 %     1.04 %     1.04 %     0.50 %     0.91 %     1.17 %     0.91 %
    Return on average equity (Annualized)     11.53 %     9.22 %     9.19 %     4.45 %     8.15 %     10.39 %     8.16 %
    Return on average tangible common equity (1) (3)     14.31 %     11.48 %     11.50 %     5.58 %     10.29 %     12.92 %     10.30 %
    Efficiency (4)     64.49 %     65.22 %     65.05 %     67.93 %     67.97 %     64.83 %     68.32 %
    Equity to assets at period end     11.23 %     11.32 %     11.36 %     11.34 %     11.31 %     11.23 %     11.31 %
    Noninterest expense to average assets     0.72 %     0.65 %     0.63 %     0.66 %     0.64 %     1.36 %     1.30 %
    (1)  See section “GAAP to Non-GAAP Reconciliations” for the reconciliation of GAAP performance measures to non-GAAP measures.
    (2)  Calculated by dividing tangible common equity by shares outstanding.
    (3)  Calculated by dividing annualized net income for each period by average tangible common equity.
    (4)  The efficiency ratio is calculated by dividing noninterest expense less amortization of intangibles by the sum of net interest income on a fully taxable equivalent basis plus noninterest income.
        For the Three Months Ended     For the Six Months Ended  
        June 30,     March 31,     December 31,     September 30,     June 30,     June 30,     June 30,  
    Yields   2025     2025     2024     2024     2024     2025     2024  
    Interest-earning assets:                                                        
    Loans receivable (1)     6.40 %     6.17 %     6.12 %     6.19 %     6.27 %     6.29 %     6.19 %
    Investment securities (1) (2)     3.64 %     3.69 %     3.63 %     3.62 %     3.59 %     3.67 %     3.56 %
    Interest-earning deposits with other banks     4.13 %     3.57 %     4.23 %     4.27 %     4.59 %     3.84 %     4.74 %
    Total interest-earning assets     6.03 %     5.81 %     5.78 %     5.84 %     5.92 %     5.92 %     5.85 %
    Deposits:                                                        
    Interest-bearing demand deposits     2.49 %     2.13 %     2.07 %     2.16 %     1.93 %     2.31 %     1.90 %
    Money market deposits     3.53 %     3.38 %     3.81 %     3.93 %     3.95 %     3.46 %     3.88 %
    Savings deposits     0.86 %     0.82 %     0.75 %     0.71 %     0.64 %     0.84 %     0.61 %
    Certificates of deposit     3.66 %     3.93 %     4.21 %     4.49 %     4.57 %     3.79 %     4.32 %
    Total interest-bearing deposits     2.95 %     2.82 %     3.05 %     3.17 %     3.15 %     2.89 %     3.02 %
    Non-Deposit Funding:                                                        
    Borrowings     4.54 %     4.58 %     4.93 %     5.54 %     5.60 %     4.56 %     5.60 %
    Total interest-bearing liabilities     3.06 %     3.01 %     3.21 %     3.41 %     3.45 %     3.04 %     3.34 %
    Cost of deposits     2.21 %     2.10 %     2.24 %     2.33 %     2.30 %     2.16 %     2.19 %
    Cost of funds     2.34 %     2.30 %     2.41 %     2.58 %     2.61 %     2.32 %     2.52 %
    Net interest margin (3)     3.88 %     3.69 %     3.56 %     3.46 %     3.51 %     3.79 %     3.53 %
    (1)  Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were determined using an effective tax rate of 21%.
    (2)  Yield is calculated on the basis of amortized cost.
    (3)  Net interest margin represents net interest income as a percentage of average interest-earning assets.


    MIDDLEFIELD BANC CORP.
    Consolidated Selected Financial Highlights
    (unaudited)

        For the Three Months Ended  
        June 30,     March 31,     December 31,     September 30,     June 30,  
    Asset quality data   2025     2025     2024     2024     2024  
    (Dollar amounts in thousands, unaudited)                                        
    Nonperforming assets (1)   $ 25,052     $ 29,550     $ 29,984     $ 30,078     $ 15,961  
                                             
    Allowance for credit losses   $ 22,335     $ 22,401     $ 22,447     $ 22,526     $ 21,795  
    Allowance for credit losses/total loans     1.41 %     1.44 %     1.48 %     1.50 %     1.46 %
    Net charge-offs (recoveries):                                        
    Quarter-to-date   $ (18 )   $ (209 )   $ 151     $ 1,382     $ (29 )
    Year-to-date     (227 )     (209 )     1,436       1,285       (97 )
    Net charge-offs (recoveries) to average loans, annualized:                                        
    Quarter-to-date     (0.00 %)     (0.06 %)     0.04 %     0.36 %     (0.01 %)
    Year-to-date     (0.03 %)     (0.06 %)     0.10 %     0.11 %     (0.01 %)
                                             
    Nonperforming loans/total loans     1.58 %     1.91 %     1.97 %     2.00 %     1.07 %
    Allowance for credit losses/nonperforming loans     89.15 %     75.81 %     74.86 %     74.89 %     136.55 %
    Nonperforming assets/total assets     1.30 %     1.56 %     1.62 %     1.62 %     0.87 %
    (1) Nonperforming assets consist of nonperforming loans.


    MIDDLEFIELD BANC CORP.
    GAAP to Non-GAAP Reconciliations

    Reconciliation of Common Stockholders’ Equity to Tangible Common Equity   For the Three Months Ended  
    (Dollar amounts in thousands, unaudited)   June 30,     March 31,     December 31,     September 30,     June 30,  
        2025     2025     2024     2024     2024  
                                             
    Stockholders’ equity   $ 216,052     $ 213,793     $ 210,562     $ 210,705     $ 206,788  
    Less goodwill and other intangibles     41,468       41,718       41,967       42,225       42,482  
    Tangible common equity   $ 174,584     $ 172,075     $ 168,595     $ 168,480     $ 164,306  
                                             
    Shares outstanding     8,081,193       8,081,193       8,073,708       8,071,032       8,067,144  
    Tangible book value per share   $ 21.60     $ 21.29     $ 20.88     $ 20.87     $ 20.37  

    Reconciliation of Average Equity to Return on Average Tangible Common Equity    		   For the Three Months Ended     For the Six Months Ended  
                                                             
        June 30,     March 31,     December 31,     September 30,     June 30,     June 30,     June 30,  
        2025     2025     2024     2024     2024     2025     2024  
                                                             
    Average stockholders’ equity   $ 214,144     $ 212,465     $ 209,864     $ 209,096     $ 205,379     $ 213,235     $ 205,330  
    Less average goodwill and other intangibles     41,589       41,839       42,092       42,350       42,607       41,714       42,609  
    Average tangible common equity   $ 172,555     $ 170,626     $ 167,772     $ 166,746     $ 162,772     $ 171,521     $ 162,721  
                                                             
    Net income   $ 6,157     $ 4,830     $ 4,848     $ 2,340     $ 4,164     $ 10,987     $ 8,331  
    Return on average tangible common equity (annualized)     14.31 %     11.48 %     11.50 %     5.58 %     10.29 %     12.92 %     10.30 %

    Reconciliation of Pre-Tax Pre-Provision Income (PTPP)    		   For the Three Months Ended     For the Six Months Ended  
                                                             
        June 30,     March 31,     December 31,     September 30,     June 30,     June 30,     June 30,  
        2025     2025     2024     2024     2024     2025     2024  
                                                             
    Net income   $ 6,157     $ 4,830     $ 4,848     $ 2,340     $ 4,164     $ 10,987     $ 8,331  
    Add income taxes     1,213       924       995       371       690       2,137       1,459  
    Add provision for (recovery of) credit losses     (506 )     95       (177 )     2,234       87       (411 )     (49 )
    PTPP   $ 6,864     $ 5,849     $ 5,666     $ 4,945     $ 4,941     $ 12,713     $ 9,741  


    MIDDLEFIELD BANC CORP.
    Average Balance Sheets
    (Dollar amounts in thousands, unaudited)

        For the Three Months Ended  
        June 30,     June 30,  
        2025     2024  
        Average             Average     Average             Average  
        Balance     Interest     Yield/Cost     Balance     Interest     Yield/Cost  
    Interest-earning assets:                                                
    Loans receivable (1)   $ 1,576,050     $ 25,122       6.40 %   $ 1,503,440     $ 23,422       6.27 %
    Investment securities (1) (2)     191,619       1,486       3.64 %     191,752       1,471       3.62 %
    Interest-earning deposits with other banks (3)     61,012       628       4.13 %     61,891       706       4.59 %
    Total interest-earning assets     1,828,681       27,236       6.03 %     1,757,083       25,599       5.93 %
    Noninterest-earning assets     79,414                       86,431                  
    Total assets   $ 1,908,095                     $ 1,843,514                  
    Interest-bearing liabilities:                                                
    Interest-bearing demand deposits   $ 217,859     $ 1,353       2.49 %   $ 209,965     $ 1,009       1.93 %
    Money market deposits     489,525       4,313       3.53 %     337,937       3,320       3.95 %
    Savings deposits     188,999       404       0.86 %     192,577       305       0.64 %
    Certificates of deposit     297,727       2,719       3.66 %     333,542       3,789       4.57 %
    Short-term borrowings     77,666       870       4.49 %     138,656       1,920       5.57 %
    Other borrowings     11,588       140       4.85 %     11,791       173       5.90 %
    Total interest-bearing liabilities     1,283,364       9,799       3.06 %     1,224,468       10,516       3.45 %
    Noninterest-bearing liabilities:                                                
    Noninterest-bearing demand deposits     397,493                       396,626                  
    Other liabilities     13,094                       17,042                  
    Stockholders’ equity     214,144                       205,379                  
    Total liabilities and stockholders’ equity   $ 1,908,095                     $ 1,843,514                  
    Net interest income           $ 17,437                     $ 15,083          
    Interest rate spread (4)                     2.97 %                     2.48 %
    Net interest margin (5)                     3.88 %                     3.52 %
    Ratio of average interest-earning assets to average interest-bearing liabilities                     142.49 %                     143.50 %
    (1) Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $266 and  $289 for the three months ended June 30, 2025 and 2024, respectively.
    (2) Yield is calculated on the basis of amortized cost.
    (3) Includes dividends received on restricted stock.
    (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities.
    (5) Net interest margin represents net interest income as a percentage of average interest-earning assets.
        For the Three Months Ended  
        June 30,     March 31,  
        2025     2025  
        Average             Average     Average             Average  
        Balance     Interest     Yield/Cost     Balance     Interest     Yield/Cost  
    Interest-earning assets:                                                
    Loans receivable (1)   $ 1,576,050     $ 25,122       6.40 %   $ 1,537,337     $ 23,387       6.17 %
    Investment securities (1) (2)     191,619       1,486       3.64 %     191,996       1,490       3.69 %
    Interest-earning deposits with other banks (3)     61,012       628       4.13 %     67,661       596       3.57 %
    Total interest-earning assets     1,828,681       27,236       6.03 %     1,796,994       25,473       5.81 %
    Noninterest-earning assets     79,414                       84,542                  
    Total assets   $ 1,908,095                     $ 1,881,536                  
    Interest-bearing liabilities:                                                
    Interest-bearing demand deposits   $ 217,859     $ 1,353       2.49 %   $ 220,192     $ 1,154       2.13 %
    Money market deposits     489,525       4,313       3.53 %     458,446       3,816       3.38 %
    Savings deposits     188,999       404       0.86 %     192,931       388       0.82 %
    Certificates of deposit     297,727       2,719       3.66 %     261,006       2,527       3.93 %
    Short-term borrowings     77,666       870       4.49 %     120,238       1,347       4.54 %
    Other borrowings     11,588       140       4.85 %     11,639       143       4.98 %
    Total interest-bearing liabilities     1,283,364       9,799       3.06 %     1,264,452       9,375       3.01 %
    Noninterest-bearing liabilities:                                                
    Noninterest-bearing demand deposits     397,493                       390,354                  
    Other liabilities     13,094                       14,265                  
    Stockholders’ equity     214,144                       212,465                  
    Total liabilities and stockholders’ equity   $ 1,908,095                     $ 1,881,536                  
    Net interest income           $ 17,437                     $ 16,098          
    Interest rate spread (4)                     2.97 %                     2.80 %
    Net interest margin (5)                     3.88 %                     3.69 %
    Ratio of average interest-earning assets to average interest-bearing liabilities                     142.49 %                     142.12 %
    (1)  Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $266 and $272 for the three months ended June 30, 2025 and March 31, 2025, respectively.
    (2) Yield is calculated on the basis of amortized cost.
    (3) Includes dividends received on restricted stock.
    (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities.
    (5) Net interest margin represents net interest income as a percentage of average interest-earning assets.
        For the Six Months Ended  
        June 30,     June 30,  
        2025     2024  
        Average             Average     Average             Average  
        Balance     Interest     Yield/Cost     Balance     Interest     Yield/Cost  
    Interest-earning assets:                                                
    Loans receivable (1)   $ 1,556,693     $ 48,509       6.29 %   $ 1,489,992     $ 45,817       6.19 %
    Investment securities (1) (2)     191,807       2,976       3.67 %     191,801       2,910       3.59 %
    Interest-earning deposits with other banks (3)     64,336       1,224       3.84 %     63,015       1,484       4.74 %
    Total interest-earning assets     1,812,836       52,709       5.92 %     1,744,808       50,211       5.85 %
    Noninterest-earning assets     81,979                       88,291                  
    Total assets   $ 1,894,815                     $ 1,833,099                  
    Interest-bearing liabilities:                                                
    Interest-bearing demand deposits   $ 219,026     $ 2,506       2.31 %   $ 210,487     $ 1,986       1.90 %
    Money market deposits     473,985       8,130       3.46 %     318,208       6,147       3.88 %
    Savings deposits     190,965       792       0.84 %     196,828       594       0.61 %
    Certificates of deposit     279,366       5,246       3.79 %     333,706       7,162       4.32 %
    Short-term borrowings     98,952       2,217       4.52 %     141,507       3,913       5.56 %
    Other borrowings     11,614       283       4.91 %     11,815       357       6.08 %
    Total interest-bearing liabilities     1,273,908       19,174       3.04 %     1,212,551       20,159       3.34 %
    Noninterest-bearing liabilities:                                                
    Noninterest-bearing demand deposits     393,923                       398,417                  
    Other liabilities     13,749                       16,801                  
    Stockholders’ equity     213,235                       205,330                  
    Total liabilities and stockholders’ equity   $ 1,894,815                     $ 1,833,099                  
    Net interest income           $ 33,535                     $ 30,052          
    Interest rate spread (4)                     2.88 %                     2.51 %
    Net interest margin (5)                     3.79 %                     3.53 %
    Ratio of average interest-earning assets to average interest-bearing liabilities                     142.31 %                     143.90 %
    (1)  Tax-equivalent adjustments to calculate the yield on tax-exempt securities and loans were $538 and $570 for the six months ended June 30, 2025 and June 30, 2024, respectively.
    (2) Yield is calculated on the basis of amortized cost.
    (3) Includes dividends received on restricted stock.
    (4) Interest rate spread represents the difference between the average yield on interest-earning assets and the average cost of interest-bearing liabilities.
    (5) Net interest margin represents net interest income as a percentage of average interest-earning assets.
       
    Company Contact: Investor and Media Contact:
    Ronald L. Zimmerly, Jr.
    President and Chief Executive Officer
    Middlefield Banc Corp.
    (419) 673-1217
    rzimmerly@middlefieldbank.com     		 Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com 

    The MIL Network –

  • MIL-OSI USA: Crapo Statement at Executive Session to Consider USTR, Treasury Nominations

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.—U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at an executive session to consider the nominations of Joseph Barloon to be a Deputy United States Trade Representative (USTR) and Brian Morrissey, Jr. to be General Counsel for the Department of the Treasury.
    As prepared for delivery:
    “We meet today to consider favorably reporting the nominations of Joe Barloon, who is nominated to serve as Deputy USTR and Ambassador to the World Trade Organization (WTO) and Brian Morrissey, who is nominated to serve as the General Counsel of the Treasury Department.
    “The meeting this morning will provide members with the opportunity to make remarks on the nominees. Following statements, we will recess briefly then proceed to our nominations hearing this morning. Later today, we will notify members of the time and location of the vote on Mr. Barloon and Mr. Morrissey.
    “During his hearing, Mr. Barloon discussed his plan to work in good faith with WTO Members to advance the interests of the United States. Importantly, based on his prior tenure as General Counsel to the U.S. Trade Representative, Mr. Barloon understands the critical role the WTO plays in ensuring market access for our farmers and businesses of all types. If confirmed, Mr. Barloon will work to restore U.S. leadership at the WTO.
    “Building on prior Treasury Department experience, Mr. Morrissey is well-suited to provide critical legal and policy advice to the Secretary and other senior Department officials. He is exceptionally qualified for the position, and his nomination received bipartisan support from Treasury General Counsels dating back to 1977. I was encouraged to hear that he will prioritize a close working relationship with Congress to ensure that the Department effectively implements all laws Congress sends to it.
    “I will vote in favor of both nominations and I encourage all of my colleagues on the Committee to do the same.”
     

    MIL OSI USA News –

  • MIL-OSI USA: Finance Committee Advances USTR, Treasury Nominations

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–The U.S. Senate Finance Committee today advanced the nominations of Joseph Barloon to be a Deputy United States Trade Representative (USTR) and Brian Morrissey, Jr., to be General Counsel for the Department of the Treasury, each by a vote of 14-13. Following the vote, Chairman Mike Crapo (R-Idaho) issued the statement below:
    “Each of the nominees advanced by the Committee today will bring vital experience to their respective roles. Mr. Barloon will work to advance the Unites States’ trade interests at the World Trade Organization as the Administration reestablishes U.S. leadership and will be an incredible advocate for American businesses and farmers. Mr. Morrissey is well-suited to provide critical legal and policy advice to the Secretary and other Treasury officials, and has made it clear he will work closely with Congress to ensure the Department effectively implements all laws. I look forward to each nominee’s confirmation by the full Senate.”
    Executive session information can be found here.
    Read Chairman Crapo’s full statement at the nomination hearing here, and his statement at the executive session here.
     

    MIL OSI USA News –

  • MIL-OSI USA: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

    Source: US State of North Dakota

    Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

    “The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

    “Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

    “By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

    After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

    According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

    Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

    Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

    Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

    The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

    After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

    The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office. 

    Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

    MIL OSI USA News –

  • MIL-OSI Security: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

    Source: United States Attorneys General

    Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

    “The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

    “Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

    “By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

    After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

    According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

    Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

    Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

    Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

    The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

    After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

    The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office. 

    Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

    MIL Security OSI –

  • MIL-OSI Africa: Fostering Digital Villages Initiative showcases innovation at agricultural shows in Zimbabwe

    Source: APO

    The Food and Agriculture Organization of the United Nations (FAO) in collaboration with the Mhondoro-Ngezi District Agricultural Show Society, successfully hosted a ‘Digital Fair’ in the Mashonaland West Province in Zimbabwe. The Digital Fair was held under the auspices of the Fostering Digital Villages Initiative (FDiVi).

    This strategic blending of digital innovation with traditional agricultural exhibitions marks a significant step in Zimbabwe’s journey towards agrifood systems transformation as it showcases tools and services that significantly improves the efficiency and effectiveness of agricultural practices.

    The event served as a dynamic platform to introduce digital service providers to rural communities, enabling farmers, youth, and local leaders to explore and evaluate digital tools tailored for agricultural productivity and rural development. The digital fair is part of the broader global FAO Digital Villages Initiative, which aims to transform agrifood systems in rural Malawi, Rwanda, and Zimbabwe using effective digital technologies, including artificial intelligence.

    Digital Fairs are platforms for raising awareness as well as conduits for digital literacy for rural communities on one hand and rural market entry points for digital service providers, innovators and entrepreneurs.

    “Collaborating with Agricultural Show Societies is a step in the right direction. The success of the digital fair in the Mhondoro-Ngezi where we partnered the Mhondoro-Ngezi District Agricultural Society sets the stage for future integration of digital fairs into national and sub-national agricultural shows, amplifying outreach and fostering inclusive access to innovation,” said Patrice Talla, FAO Subregional Coordinator for Southern Africa and Representative to Zimbabwe.

    “This approach aligns with Zimbabwe’s broader goals for sustainable agriculture, youth empowerment, and rural development, and is more sustainable,” added Talla.

    “The Venice Digital Fair has been overwhelmingly welcomed by the Mhondoro-Ngezi farmers, extension staff and stakeholders, with a lot of interest shown on the services that were being exhibited. We wish to continue to synchronize our future agricultural shows with these digital fairs as this has shown a positive impact on attendance, knowledge sharing and exchange.” said Spiwe Goto an extension officer with the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development.

    The digital fair brought together a wide range of stakeholders, including Government officials; digital service providers; local traditional leaders and community members; and youth organizations, rural development groups, and digital champions.

    “I have learnt a lot through being part of this initiative. Digital innovation isn’t just for urban centres. It’s for every farmer, every youth, and every rural entrepreneur ready to grow. We’re building bridges between technology and tradition,” Maria Chinyoka a Digital Champion trained under the FDiVi project who is also the Kushinga farmer group leader.

    The Digital Fair delivered tangible results, reinforcing the value of integrating digital innovation into Zimbabwe’s agrifood systems. The digital fair contributed to increased awareness of digital tools among rural stakeholders, showcasing their potential to drive agricultural productivity and rural transformation. It also strengthened engagement between digital innovators and grassroots communities, fostering collaboration and knowledge exchange.

    “These series of Fairs are a vital bridge between us as digital innovators and grassroot communities that we often overlook in tech-driven agriculture” said Tafadzwa Chikwereti (Co-founder of eAgro).

    “As a financial institution, we witnessed opportunities for our company to penetrate the under-banked community. We will be partnering with local agents to offer our micro-finance services,” Kanukai Madende the Managing Director of Village Finance.

    The digital fair enhanced the visibility of digital solutions within sub-national agricultural platforms, laying the groundwork for broader adoption and policy integration. FAO remains committed to supporting Zimbabwe’s digital transformation journey, ensuring that no community is left behind in the pursuit of modern, resilient, and inclusive agrifood systems.

    Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Africa: Strengthening vulnerability analysis to tackle food insecurity in Southern Africa

    Source: APO

    Food insecurity in Southern Africa is worsening, driven by erratic weather patterns, pest outbreaks, and economic shocks. An estimated 46.3 million people across seven countries -Botswana, the Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, South Africa and Tanzania— are projected to fate acute food insecurity during the 20205/26 consumption period. As shocks intensify, timely and harmonized vulnerability assessments remain critical to inform early action, response planning, and policy development.

    To this end, representatives from 11 Southern African Development Community  (SADC) Member States, joined by regional and international partners including the Food and Agriculture Organization of the United Nations (FAO), World Food Programme (WFP), Famine Early Warning Systems Network (FEWS NET), and the Integrated Food Security Phase Classification (IPC) Regional Support Unit, gathered virtually from 14 to 16 July 2025 for the Annual Dissemination Forum of the SADC Regional Vulnerability Assessment and Analysis (RVAA) Programme. The event was followed by the 29th Steering Committee meeting on 17 July 2025.

    Despite data collection and budgetary challenges, seven Member States successfully completed their national assessments and presented findings at the forum. These findings contributed to the finalization of the 2025 Regional Synthesis Report on the State of Food and Nutrition Security in SADC, validated by the Regional Vulnerability Assessment Committee (RVAC).

    The report highlights a concerning uptick in food insecurity, particularly in the Democratic Republic of Congo, Mozambique and low-income urban areas, underscoring the compounded impact of the 2024 El Niño-induced drought, ongoing conflict, and high food prices. At the same time, the region experienced normal to above-normal rainfall in many areas during the 2024/25 season, supporting a modest recovery in cereal production and grazing conditions, particularly in countries like Tanzania, Lesotho and Eswatini.

    FAO’s technical support and way forward

    As a long-standing partner of the RVAA system, FAO continues to support Member States in enhancing the quality and use of vulnerability assessments. This includes contributing technical expertise to the Regional Vulnerability Assessment Committee, promoting alignment with IPC frameworks, and strengthening links between data and early action.

    Looking ahead, FAO will continue engaging with SADC Member States and partners to improve the quality and coverage of vulnerability assessments across the region. This includes supporting harmonization of tools and methodologies, promoting digital data collection systems, and fostering cross-country learning and peer-to-peer exchange. FAO is committed to working alongside the SADC Secretariat to strengthen the institutional sustainability of the RVAA programme and integrate early warning into broader disaster risk management systems.

    The outcomes of the 29th Steering Committee meeting reaffirm the urgency of accelerating investment in regional food security analysis. The Committee called for renewed efforts to mobilize resources for the upcoming landscape analysis of existing national frameworks, which will inform the development of a harmonized vulnerability assessment framework for the SADC region by 2026. FAO will remain a key technical partner in this process, offering expertise to ensure that the proposed framework is scalable, inclusive, and responsive to the complex drivers of vulnerability facing Southern Africa today.

    Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Russia: Vice Premier of China’s State Council calls for proper work on agricultural production, consolidation of poverty alleviation gains

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    NANNING, July 22 (Xinhua) — Chinese Vice Premier Liu Guozhong on Tuesday called for properly implementing the production of grain and other major agricultural products in China and continuously consolidating and expanding the achievements of the nationwide poverty alleviation campaign.

    Liu Guozhong, also a member of the Political Bureau of the CPC Central Committee, made the remarks during an inspection tour of Guangxi Zhuang Autonomous Region (south China) from July 20 to 22.

    During the trip, Liu Guozhong studied the situation of rice production, sugar crop cultivation and the development of high-standard farmland on the spot.

    Touching upon the pressing issue of typhoons, floods and other natural disasters, the Vice Premier called for measures such as emergency floodwater drainage, replanting and reseeding crops on damaged lands, making efforts to reduce losses in the agricultural sector.

    Liu Guozhong stressed the need for targeted implementation of measures to support the poor, paying special attention to stabilizing the employment of rural migrant workers and people who have escaped poverty, as well as developing rural industries with local specific advantages that improve the well-being of farmers. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA News: Fact Sheet: The United States and Indonesia Reach Historic Trade Deal

    Source: US Whitehouse

    DELIVERING ON RECIPROCAL TRADE: President Donald J. Trump announced a landmark trade deal with Indonesia that will provide Americans with market access in Indonesia once considered impossible and unlock major breakthroughs for America’s manufacturing, agriculture, and digital sectors.

    • Under this deal, Indonesia will pay the United States a reciprocal tariff rate of 19%.
    • The key terms of the U.S.-Indonesia Agreement on Reciprocal Trade will include:
      • Eliminating Tariff Barriers: Indonesia will eliminate tariff barriers, on a preferential basis, on over 99% of U.S. products exported to Indonesia across all sectors, including for all agricultural products, health products, seafood, information and communications technology, automotive products, and chemicals, which will create commercially meaningful market access opportunities for the full range of U.S. exports, supporting high-quality American jobs.
      • Breaking Down Non-Tariff Barriers for U.S. Industrial Exports: Indonesia will address a range of non-tariff barriers, including by: (1) exempting U.S. companies and originating goods from local content requirements; (2) accepting vehicles built to U.S. federal motor vehicle safety and emissions standards; (3) accepting FDA certificates and prior marketing authorizations for medical devices and pharmaceuticals; (4) exempting U.S. exports of cosmetics, medical devices, and other manufactured goods from burdensome certification and labeling requirements; (5) removing import restrictions or licensing requirements on U.S. remanufactured goods and their parts; (6) eliminating pre-shipment inspection or verification requirements on imports of U.S. goods; (7) adopting and implementing good regulatory practices; (8) taking steps to resolve many long-standing intellectual property issues identified in USTR’s Special 301 Report; and (9) addressing U.S. concerns with conformity assessment procedures.
      • Breaking Down Non-Tariff Barriers for U.S. Agriculture Exports: Indonesia will address and prevent barriers to U.S. agricultural products in the Indonesian market, including by: (1) exempting U.S. food and agricultural products from all of Indonesia’s import licensing regimes including its commodity balance policy; (2) ensuring transparency and fairness with respect to geographical indications (GIs) including meats and cheeses; (3) providing permanent Fresh Food of Plant Origin (FFPO) designation for all applicable U.S. plant products; and (4) recognizing U.S. regulatory oversight, including listing of all U.S. meat, poultry, and dairy facilities and accepting certificates issued by U.S. regulatory authorities.
      • Strengthening Rules of Origin: The United States and Indonesia will negotiate facilitative rules of origin that ensure that the benefits from the agreement accrue to the United States and Indonesia, not third-countries.
      • Removing Barriers for Digital Trade: The United States and Indonesia will finalize commitments on digital trade, services, and investment. Indonesia has committed to eliminate existing HTS tariff lines on “intangible products” and suspend related requirements on import declarations; support a permanent moratorium on customs duties on electronic transmissions at the World Trade Organization (WTO) immediately and without conditions; and take effective actions to implement the Joint Initiative on Services Domestic Regulation, including submitting its revised Specific Commitments for certification by the WTO. Indonesia will provide certainty regarding the ability to move personal data out of its territory to the United States through recognition of the United States as a country or jurisdiction that provides adequate data protection under Indonesia’s law. American companies have sought these reforms for years.
      • Aligning on Economic Security: Indonesia has committed to join the Global Forum on Steel Excess Capacity and take effective actions to address global excess capacity in the steel sector and its impacts. The United States and Indonesia are committed to strengthening cooperation to increase supply chain resilience. This includes addressing duty evasion and cooperating on export controls and investment security. Indonesia will remove restrictions on exports to the United States for all industrial commodities, including critical minerals.
      • Improving Labor Standards: Indonesia has committed to adopt and implement a forced labor import ban and remove provisions that restrict workers and unions from exercising freedom of association and collective bargaining rights.
      • Notching Commercial Deals: The United States and Indonesia take note of commercial deals in the areas of agriculture, aerospace, and energy, which will further increase U.S. exports to Indonesia.
    • President Trump has delivered a forward-looking and tough trade deal that will benefit American workers, exporters, farmers, and digital innovators—this deal is what winning looks and will feel like for all Americans.

    A DEFINED PATH FORWARD: In the coming weeks, the United States and Indonesia will memorialize the Agreement on Reciprocal Trade in order to lock in benefits for American businesses and workers.

    • The United States currently runs its fifteenth largest goods trade deficit with Indonesia.
      • The U.S. total goods trade deficit with Indonesia was $17.9 billion in 2024.
      • Before this deal, Indonesia’s simple average applied tariff was 8% while the U.S. average applied tariff was 3.3%. 

    LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.

    • On April 2, President Trump declared a national emergency in response to the large and persistent U.S. goods trade deficit caused by a lack of reciprocity in our bilateral trade relationships, unfair tariff and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.
    • President Trump continues to advance the economic and national security interests of the American people by removing tariff and non-tariff barriers and expanding market access for American exporters.
    • Today’s announcement shows that America can defend its domestic production and strengthen its defense industrial base while obtaining expansive market access with our trading partners.

    MIL OSI USA News –

  • MIL-OSI USA: Griffith Announces Over $2.6 Million to Wise County Public Service Authority for Water System Improvements

    Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)

    The U.S. Department of Agriculture (USDA) Rural Development has awarded the Wise County Public Service Authority, based in Wise, Virginia, a $1,905,000 grant and a $791,000 loan. The funding supports the final phase of constructing water system improvements. U.S. Congressman Morgan Griffith (R-VA) issued the following statement:

    “The Wise County Public Service Authority is dedicated to making needed improvements to the County’s water infrastructure.

    “These funds for more than $2.6 million helps the Service Authority deliver a reliable water system to Wise County citizens.” 

    BACKGROUND

    These funds were made available through the Water and Waste Disposal Loan & Grant program.

    According to USDA Rural Development, this project will address pressure fluctuations and reduced water storage and flow capacities.

    In August 2023, Congressman Griffith announced nearly $4.8 million to the Wise County Public Service Authority for water system improvements.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Griffith Announces $3,032,736 USDA Rural Development Grant to SWVA Biochar LLC

    Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)

    The U.S. Department of Agriculture (USDA) Rural Development has awarded SWVA Biochar LLC, based in Floyd County, Virginia, a $3,032,736 grant. The funding supports the purchase of a site for an additional facility in Floyd County. U.S. Congressman Morgan Griffith (R-VA) issued the following statement:

    “Biochar is a unique type of charcoal that improves soil fertility, yielding immense dividends for farmers.

    “This grant for more than $3 million helps SWVA Biochar continue producing local biochar and expand its operations in Floyd County.”

    BACKGROUND

    This grant was made available through the Fertilizer Production Expansion Program (FPEP). 

    According to USDA Rural Development, FPEP grants are provided to boost manufacturing and processing of fertilizer and nutrient alternatives and their availability in the United States.

    Biochar is black carbon produced from biomass sources, such as manure or agricultural waste, that can improve soil fertility.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Disaster Relief to Indiana Small Businesses, Private Nonprofits and Residents Affected by Flooding

    Source: United States Small Business Administration

    ATLANTA–The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Indiana small businesses, private nonprofits, and residents affected by the flooding occurring June 28-July 2, 2025. The SBA issued a disaster declaration in response to a request received from Gov. Mike Braun on July 11, 2025.

    The disaster declaration covers the counties of Daviess, Dubois, Greene, Knox, Martin and Pike which are eligible for both Physical Damage Loans and Economic Injury Disaster Loans (EIDLs) from the SBA.  

    Small businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.  

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.  

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    SBA’s EIDL program is available to small businesses, small agricultural cooperatives and private nonprofit (PNP) organizations with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    Beginning, Wednesday, July 23, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center in the county of Daviess to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    The DLOC hours of operation are listed below:

    Disaster Loan Outreach Center (DLOC)

    Daviess County

    Odon Community Center

    311 Park Street

    Odon, Indiana 47562

    Opening: Wednesday, July 23, 10 a.m. to 5 p.m.

    Hours:  Monday – Friday, 8 a.m. to 5 p.m.

    Saturday, 10 a.m. to 2 p.m.

    Closed: Sunday

    Permanently Closing: July 31 at 4 p.m.

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Sept. 16, 2025. The deadline to return economic injury applications is April 20, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Huffman Introduces Bill to Protect Small Farmers and Producers

    Source: United States House of Representatives – Congressman Jared Huffman Representing the 2nd District of California

    July 22, 2025

    Washington, D.C. – Today, Representative Jared Huffman (CA-02) re-introduced legislation that would enshrine the right for small cannabis producers to ship and sell their products directly to consumers. This bill, the Small and Homestead Independent Producers (SHIP) Act, would enable small farmers and producers to operate their businesses within and across state lines. The legislation is specifically targeted to support the smallest family farmers and help them sustain their businesses under a larger federal legalization law.

    “Larger, commercialized cannabis operators are infiltrating the market and squeezing out our local farmers in the process,” said Rep. Jared Huffman. “So when the antiquated federal prohibition on cannabis finally gets repealed, we need to have substantial legislation ready to help these small businesses survive. My legislation would ensure that folks can ship their products straight to consumers, which would both help expand small businesses and ensure farmers stay afloat. When full legalization is guaranteed, we must commit to not leaving our smallest family-farmers behind.”

    “Nearly 15 years into the experiment of state-level cannabis legalization, the cracks in the system are clear: small and craft producers are being pushed to the margins, safe access for consumers and patients is shrinking, and the industry is consolidating into the hands of a few,” said Ross Gordon, Co-Founder at National Craft Cannabis Coalition and Policy Analyst at Origins Council. “Without direct-to-consumer shipping, federal cannabis legalization risks reinforcing these failures instead of correcting them. The SHIP Act is a make-or-break policy for the future of small cannabis businesses in California and across the country.”

     “Our state’s DTC framework helps support nearly 1,700 cultivators in a state of 1.2 million people,” said Mark Barnett, Co-Founder at National Craft Cannabis Coalition and Policy Director at Maine Craft Cannabis Association. “Without these opportunities, quality in the legal market will suffer, and consumers will look elsewhere. The SHIP Act would guarantee that small farmers have a pathway to participate in one of the country’s most promising new economic frontiers.”

    “The regulation of cannabis has, unfortunately, not equated to adequate access,” said Frederika McClary Easley, President of the Minority Cannabis Business Association (MCBA). “Many patients and consumers navigate plant deserts that have been created due to municipal opt-outs and zoning restrictions. The SHIP Act will help to address this while prioritizing access for small craft producers, which in turn positively impacts their success and sustainability. MCBA is proud to support this piece of federal legislation that recognizes the importance of craft growing and small businesses as the bedrock of this burgeoning industry.”

    This bill is co-sponsored by Representative Val Hoyle.

    It is endorsed by National Craft Cannabis Coalition, Minority Cannabis Business Association, National Cannabis Industry Association, Drug Policy Alliance, Parabola Center, Marijuana Justice, Veterans Cannabis Coalition, Origins Council, Washington Sun & Craft Growers Association, Vermont Growers Association, Maine Craft Cannabis Association, Humboldt County Growers Alliance, Mendocino Cannabis Alliance, Trinity County Agricultural Alliance, and the Central California Cannabis Club.

    Full text of this legislation can be found here.

    ###

    Previous Article

    MIL OSI USA News –